Positive Opening on D-Street; Oil, Aviation, Auto stocks in focus

Indian Indices:

Indian equity benchmarks may see gap up opening on Thursday, tracking firm cues from Asian peers. SGX Nifty is trading 24.00 points higher.

Sensex, Nifty to open on a positive note. The indices to open on a positive note. The landmark decision by the Organization of the Petroleum Exporting Countries to cut production has fueled a sharp rally in oil prices, which rose almost 10% to skyrocket near the $50 a barrel mark.

Banking stocks are regaining momentum. At the macro level, the second quarter of this fiscal year saw GDP growth at 7.3% (yoy), higher than the reading of 7.1% during the prior quarter. Lower interest rates are yet to translate into any meaningful shift in the private investment cycle.

Indian shares dropped on Thursday, as a fall in the rupee to a near record low dented sentiment at a time when investors are already worried about how demonetization will affect economic growth. The S&P BSE Sensex and CNX Nifty fell 0.74%-0.84%.

Nifty powers its way above 8,200 with ease as value buying coupled with short covering drove stocks higher. The pessimism of the last 10 days has given way to expectations of faster resolution of cash disruption with near term weakness being an opportunity to buy. Banks led the way as lower bond yields indicated a rate cut by the central bank on the cards next week. For today expect energy, metals & IT stocks to rally even as banks, Pharma & FMCG see profit booking.

Global Market:

Asian markets opened in the green with the Japanese 'Nikkei" leading from the front as US/Yen hit 114.5 the highest in the last 10 months. This saw Japanese exporters lead gains along with commodity stocks from other Asian indices. The Dow Jones hit new intra session highs but gave up gains on profit booking near the close.

U.S. stocks were mixed after the close on Wednesday, as gains in the Oil & Gas, Basic Materials and Financials sectors led shares higher while losses in the Utilities, Telecoms and Consumer Goods sectors led shares lower.

Major Headlines of the day:

SBI: Competition Commission has approved the merger of Bharatiya Mahila Bank with the State Bank of India.

Delhi HC refuses to stay connectivity fund levy on airlines and to hear airlines body plea on fund levy on Dec 21.

RBL Bank launches Aadhaar-based disbursement of micro loans also RBL Bank gets in-principle nod to start ops from GIFT City.

Punjab National Bank: Punjab National Bank has cut the marginal cost of funds based lending rate (MCLR) by 0.05-0.10 percentage points for December across maturities of various tenors.

Trend in FII flows:The FIIs were net buyers of Rs -434.42 Cr in the cash segment on Wednesday while the DIIs were net sellers of Rs 676.68 Cr, as per the provisional figures.

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Lupin up 2% on USFDA nod for Nuvigil that improves wakefulness

Lupin shares climbed nearly 2 percent intraday Wednesday after receiving approval from the US health regulator for Nuvigil tablets that improves wakefulness.

"US subsidiary Lupin Pharmaceuticals Inc has received approval for its Armodafinil tablets 50 mg, 150 mg, 200 mg and 250 mg from the United States Food & Drug Administration," the pharma major said, adding it will commence promoting the product in US shortly.

Nuvigil tablets had US sales of USD 515.6 million, according to IMS MAT report of September 2016.

Lupin had filed this drug from its Goa plant that was cleared and received Establishment Inspection Report in November from USFDA.

Analysts say Lupin could generate sales of USD 20-23 million and profit of USD 10-12 million from Nuvigil drug.

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Flat opening on Dalal Street on weak global cues

Indian Indices:

The Indian markets are likely to open on subdued note, tracking a mostly bearish trend across markets in Asia ahead of key global events such as the meeting of OPEC member to discuss possible output cuts, US GDP data and Italy's referendum. SGX Nifty is trading 3.00 points higher.

Shares of Tata Power and NFL will be in focus today as the companies unveil their earnings data for the September 2016 quarter.

The movement of the rupee, which hit a record low, will also influence sentiment on Dalal Street

Indian shares edged up on Monday, as stronger Asian shares and gains in oil retailing firms offset falls in lenders after the central bank temporarily hiked the cash reserve ratio to absorb the surge in deposits from the country's demonetisation drive. The S&P BSE Sensex and CNX Nifty rose 0.13%-0.16% each

The 30-share benchmark index closed trade at 26350.17, up by 33.83 points or by 0.13%, and the NSE Nifty ended at 8126.9, up by 12.6 points or by 0.16%.

Global Market:

Japanese markets slipped on Tuesday in a mostly lower Asian trading session, despite the release of government data hinting at a stabilization in domestic demand.

U.S. stocks closed lower on Monday as investors found few reasons to keep pushing shares higher following an extended rally that took major indexes to a string of records and lifted major indexes for three straight weeks.

European shares fell on Monday, weighed down by a drop in banks which were led lower by Italian lenders which hit their lowest point since end-September on continued worries over a cash call at troubled lender Monte dei Paschi.

Major Headlines of the day:

Reliance Jio crosses 50 million subscriber mark in 83 days

Infosys looks to take payments bank solution global

Tata Steel UK selling Speciality business to Liberty

Trend in FII flows: The FIIs were net buyers of Rs -1436.40 Cr in the cash segment on Monday  while the DIIs were net sellers of Rs 1233.79 Cr, as per the provisional figures.

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Nifty rangebound, Midcap outperforms; liquor, aviation stocks up

The market has opened weak as the Sensex is down 118.97 points or 0.4 percent at 26197.37. The Nifty is down 39.25 points or 0.5 percent at 8075.05. About 437 shares have advanced, 396 shares declined, and 45 shares are unchanged.

Cipla, Asian Paints, Hero MotoCorp, Wipro and Adani Ports are top gainers while SBI, Axis Bank, ICICI Bank, ONGC and GAIL are losers in the Sensex. Banks are under pressure as Reserve Bank of India has asked banks to maintain an incremental cash reserve ratio of 100 percent, the  move is estimated to suck out around Rs 3.24 lakh crore of excess liquidity from the system and will be applicable on deposits between September 16 and November 11 fortnights. Bonds and bank stock will take a hit in trade today.

The Indian rupee opened marginally higher at 68.42 per dollar on Monday versus 68.46 Friday.

"Positive cues from global as well as domestic equity market will help the rupee to trade with a positive bias. The trading range for the USD-INR pair will be 68.20-68.80/dollar."

The dollar fell against major rivals on Friday as investors took advantage of a pullback in US bond yields and a holiday-shortened week to consolidate gains that have propelled the currency to a nearly 14-year peak.

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Nifty struggles below 8000 ahead of F&O expiry; Asian Paints up

The market has opened weak with the rupee at 9-month low hitting record closing low at 68.80 per dollar. The Sensex is down 52.80 points or 0.2 percent at 25999.01 and the Nifty is down 58.75 points or 0.7 percent at 7974.55. About 285 shares have advanced, 326 shares declined, and 43 shares are unchanged.

Wipro, Coal India and ONGC are gainers while SBI, Hero, Cipla, BHEL and Axis Bank are losers in the Sensex.

The Indian rupee opened at fresh 9-month low at 68.74 per dollar on Thursday. It has slipped 18 paise versus previous close 68.56.

The rupee is near to its record closing low of 68.85 per dollar, which it has tested on August 28, 2013.

"Dollar rally across the board is continuing. December US Fed rate hike is now certain. While rupee has weakened sharply against dollar, it has in fact strengthened against currencies like euro and yen."

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Sensex, Nifty rangebound; Cap Goods, Metals indices up

Equity benchmarks wiped out early gains with the Nifty breaking 8000 level on profit booking. Banking & financials, auto and FMCG stocks were under pressure while healthcare, technology and metals stocks gained.

Boosted by strong global cues, the market opened firm Wednesday. The Sensex is up 152.47 points or 0.6 percent at 26113.25, and the Nifty up 48.90 points or 0.6 percent at 8051.20. About 423 shares have advanced, 79 shares declined, and 20 shares are unchanged.

L&T, GAIL, Wipro, Adani Ports and Cipla are gainers while Dr Reddy's Labs and Bajaj Auto are losers in the Sensex. Wockhardt is down around 3 percent post US FDA warning letter.

The Indian rupee has touched 8-month low in early trade. It has opened at 68.36 against the US dollar, down 11 paise compared with previous settlement at 68.25 a dollar.

The dollar resumed its uptrend helped by a surge in US existing home sales last month that further cemented expectations not only of a Federal Reserve interest rate hike in December, but also of further tightening next year.

Among global markets, Asian stocks crept to one-week highs as investors tried to share in the exuberance of Wall Street, where the three main indices seized record peaks for a second straight session.

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Nifty may open gap up led by strong global cues

Indian Indices:

The S&P BSE Sensex is trading at 25,928, up 163 points, while NSE Nifty is trading at 7,989, up 60 points. Nifty continues to see foreign selling dominate proceedings with fear being the dominant theme. The perception of sharp slowdown in the economy on the back of demonetization is leading to short term pain with ETF selling exaggerating the visible fall out. For today, expect bounce back from extremely oversold zone as PCR (put call ratio) trading @ 0.7 indicates pessimism at a high with call writing overdone. Banks, energy & IT should lead the pullback with FMCG & Infra being laggards for today.

Asian markets excluding Japan all traded in the green as an earthquake in Japan & threats of a Tsunami break out kept the Japanese index flat to marginally negative. This after oil hit a new 4 week high along with the Dow Jones, Nasdaq & the S&P index rising in tandem. The risk on trade is back in action as globally bullishness resurfaces with Japan & the US indices in

Global Market:

Asian stocks rose on Tuesday in the wake of solid gains in U.S. markets overnight, while the Japanese yen briefly strengthened after a powerful earthquake rocked northern Japan.

US stocks climbed to close at a record and European equity markets also moved higher as a jump in oil prices helped spur gains in the energy sector.

NEW YORK All three major U.S. stock indexes set record closing highs on Monday, extending their post-election rally as energy and other commodity-related shares gained and Facebook led a jump in technology.

Major Headlines of the day:

L&T: The company will announce its Q2 numbers today.

IRB Infra: The company will announce its Q2 numbers today.

All cargo Logistics: The company will announce its Q2 numbers today.

Trend in FII flows:The FIIs were net buyers of Rs -1310.82 Cr in the cash segment on Monday  while the DIIs were net sellers of Rs 1211.01 Cr, as per the provisional figures.

UPCOMING RESULTS: ALLCARGO, LT, IRB, BRILA CORP.

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Bearish start on domestic and global turmoil.

Indian Indices:

Indian shares are likely to witness a bearish opening as the global cues look unsupportive with SGX Nifty trading 13.50 points lower. Indian equity benchmarks are likely to see a bearish start on Monday as the sharp sell-off in the past five trading sessions has created disappointment at existing levels.

Gains in the SGX Nifty Index Futures for November delivery which were trading at 8,093.5, up by 15.5 points or 0.19 per cent at 10:18 AM Singapore time, signal that the Sensex may open higher today. Volatility is expected to remain high this week at the domestic bourses as traders continue to assess the impact of demonetisation of higher value currency notes on Asia’s third biggest economy, while the expiry of the October futures & options (F&O) contracts also influences sentiment. News related to demonetization and Parliamentary proceedings will be keenly watched. Continued disruptions in the Parliament session and adverse impact on liquidity due to demonetization may weigh on sentiment at Dalal Street. Moreover, jitters over a looming US Federal Reserve interest rate hike could also impact foreign capital flows into Indian equities. Shares of Larsen & Toubro will be in focus this week as the company reveals its September quarter earnings.

Global Market:

Major Asian stocks rose today even as bets of a Fed rate hike in December rose while oil prices jumped as Russian President Vladimir Putin expressed hopes over a deal to freeze output.

New US President Donald Trump’s vow to step up fiscal stimulus has fuelled speculation of faster Fed monetary tightening as higher infrastructure spending spurs inflation.

Traders took comfort from the news that German Chancellor Angela Merkel is running for a fourth term. Shanghai Composite and Hang Seng advanced, while Nikkei 225 rose as a weaker yen bolstered the lure for exporter stocks. Wall Street ended lower on Friday as drug companies and consumer shares fell while a US leading index rose a modest 0.1 per cent in October.

Major Headlines of the day:

Alembic Pharma gets USFDA approval for Telmisartan and Amlodipine Tablets

Lupin receives USFDA nod for Losartan potassium

Cadila receives USFDA nod for Metrodinazole tablets

Trend in FII flows:The FIIs were net buyers of Rs -926.32 Cr in the cash segment on FRIDAY while the DIIs were net sellers of Rs 1143.44 Cr, as per the provisional figures.

UPCOMING RESULTS: INDIACEM, SIMPLEX, FINATECH, SOBHA, SUYAJYOTI.

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Sensex, Nifty marginally lower; Sun Pharma, ONGC, NTPC rally

Equity benchmarks remained marginally lower with the Nifty struggling below 8100 level, weighed by technology, FMCG and banks stocks.

ITC, TCS, Tata Motors, HUL, Dr Reddy's Labs and Wipro slipped 1-1.5 percent whereas Reliance Industries, Sun Pharma, ONGC and NTPC gained 1-2.5 percent.

The market has opened flat with the Nifty below 8100. Teh 50-share index is up 17.60 points or 0.2 percent at 8097.55 while the Sensex is up 8.05 points or 0.03% at 26235.67.

BHEL, Wipro, Bharti, Adani and Axis Bank are top gainers while Tata Motors, ITC, Tata Steel, Cipla and L&T are losers in the Sensex.

The Indian rupee declined in the early trade on Friday. It has opened lower by 18 paise at 68 per dollar versus 67.82 Thursday.

The rupee hit 68 mark per dollar for the first time since June 27, 2016. Bhaskar Panda of HDFC Bank said, "The dollar index had touched 13.5-year high before retreating. The USD-INR pair is expected to trade in a range of 67.80- 68/dollar."

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Positive opening seen on D-Street

Indian Indices:

Indian makets are likely to witness a positive opening in trade today. SGX Nifty is trading 25.00 points up.

Shares of Petronet LNG and Deepak Fertilisers and Petrochemicals Corporation will be in focus as these companies reveal their September quarter earnings

The Indian markets closed today's session on a flat note. The BSE Sensex fell 0.02% and CNX Nifty was up by 0.04%.

The 30—share BSE SENSEX closed at 26,298.69, down by 5.94 points or by 0.02% and the NSE Nifty ended at 8,111.6, up by 3.15 points or by 0.04%.

Global Market:

Asian markets were hit by fresh volatility Thursday as uncertainty permeates trading floors after Donald Trump's shock election win, while the dollar pushed back up on expectations of a US interest rate hike.

European shares fell on Wednesday, weighed down by a pull-back in banking stocks, while German chemical group Bayer slumped after a costly bond issue.

Stocks closed mixed Wednesday as the Dow broke a seven-day winning streak and a rebound in oil prices stalled.

Major Headlines of the day:

Cipla plans to get more aggressive in US, UK

Jet Airways unveils winter sale; fares start at Rs1099

Wipro begins monetising from its intra-preneurship projects.

 

Trend in FII flows: The FIIs were net buyers of Rs -1957.04 Cr in the cash segment on Wednesday  while the DIIs were net sellers of Rs 2344.31 Cr, as per the provisional figures.

UPCOMING RESULTS:

PETRONET, INFIBEAM, ASTRALPOLY, DEEPAK FERT.

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Market set to open higher on global cues

Indian Indices:

Indian markets are likely to witness a gap up opening tracking a positive trend across most Asian markets and a bullish finish at Wall Street. SGX Nifty is trading 103.50 points higher.

Shares of Voltas and Engineers India will be in focus as these companies reveal their September quarter earnings

During the day’s trade, the BSE Sensex touched intraday high of 26809.61 and intraday low of 26253.63, while the NSE Nifty touched intraday high of 8288.55 and intraday low of 8093.2

The 30-share benchmark index closed trading at 26304.63, down by 514.19 points or by 1.92%, and the NSE Nifty ended at 8108.45, down by 187.85 points or by 2.26%.

Global Market:

Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 0.2 percent in early trade on Wednesday, bouncing back from a four-month low touched the previous day.

European shares edged up on Tuesday helped by a surge in crude oil prices and a rebound in utilities, while telecoms equipment maker Nokia slumped on a disappointing earnings outlook update.

U.S. stocks closed higher on Tuesday, lifted by a sharp rally in energy stocks, while the technology sector rebounded after a post-election sell-off.

Major Headlines of the day:

Welspun takes Rs 501-crore hit over Egyptian cotton issue

Reliance Group launches IoT services venture 'UNLIMIT'

Maruti to set up manufacturing institute in Gujarat

   

Trend in FII flows: The FIIs were net buyers of Rs -2353.82 Cr in the cash segment on Tuesday  while the DIIs were net sellers of Rs 104.83 Cr, as per the provisional figures.

UPCOMING RESULTS: IGL, VOLTAS, RAMCO, SCI, ENGINERSIN.

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INDIAN EQUITY MARKET OUTLOOK - 15 Nov 2016

Sensex plunges 400 pts; Mid & Smallcap crack 4-5%, SBI zooms

Equity benchmarks remained under pressure with the Sensex shedding 343.46 points or 1.28 percent to 26475.36, weighed by auto, infra, metals and telecom. HDFC was the leading contributor to index fall, down 4.5 percent.

The market has fallen sharply in opening dragged by index heavyweights. The Sensex is down 327.91 points or 1.2 percent at 26490.91, and the Nifty down 96.50 points or 1.2 percent at 8199.80. About 446 shares advanced, 598 shares declined, and 71 shares are unchanged.

The Indian rupee declined in the early trade. It has opened lower by 37 paise at 67.62 per dollar versus 67.25 Friday.

The dollar rose to an 11-month high against a basket of major currencies, in step with a jump in US bond yields as traders bet fiscal and trade policies under a Donald Trump administration would stoke inflation.

The US dollar scaled an eleven-month peak on Tuesday and Treasury yields extended their rise as investors braced for higher inflation in the United States amid expectations of fiscally expansionary polices under Donald Trump's presidency.

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Bearish opening on the cards on mixed Asian cues trend; IIP data eyed

Indian Indices:

Indian markets are likely to witness a gap down opening on Friday tracking a mixed trend across markets. SGX Nifty is trading 124.50 points lower.

Shares of Tata Steel, Andhra Bank, Bank of Baroda, Dhanlaxmi Bank, BPCL, Indian Overseas Bank, Jet Airways, M&M and Suzlon Energy will be in focus today as these companies reveal their September quarter earnings.

Investors will also keep watch on September IIP data today which may offer fresh cues over the health of Asia’s third biggest economy.

Indian markets share continued to maintain a firm trend with bank shares gaining the most after the demonetisation move by the government. The S&P BSE Sensex and CNX Nifty rose 0.97%-1.11% each

On Thursday (November 10, 2016), 30-share benchmark index closed trading at 27517.68, rose by 265.15 points or by 0.97%, and the NSE Nifty ended at 8525.75, gained by 93.75 points or by 1.11%.

Global Market:

Asian shares dipped while the dollar strengthened broadly on Friday as U.S. bond yields soared on expectations U.S. President-elect Donald Trump's policies would stoke inflation.

European shares ended slightly lower on Thursday as expectations of fiscal stimulus from U.S. President-elect Donald Trump boosted government bond yields, prompting losses among utilities which more than outweighed stronger financial stocks.

US banking sector shares on Thursday surged to levels not seen since the midst of the 2008 financial crisis, pushing the Dow to an all-time high, while technology shares sank as Wall Street rearranged its bets to benefit from Donald Trump's presidency.

Major Headlines of the day:

Biocon profit at Rs147 cr, revenue up 21%

Infosys Foundation gives Rs 6.5 crore to astrophysics centre

Shoppers Stop shuts two stores in Maharashtra

Sun Pharma Q2 net up over two-fold at Rs2,235 cr      

Trend in FII flows: The FIIs were net buyers of Rs -733.49 Cr in the cash segment on Thursday  while the DIIs were net sellers of Rs 639.19 Cr, as per the provisional figures.

UPCOMING RESULTS:

SRF,SBIN, APOLLOHOSP, ANDHRABANK, PATELENG, IOB,ALKEM, RPOWER, ,BANKBARODA, NATCOPHARM, LOVABLE, LAMBODHARA, TATASTEEL, VADILALIND, VIP, JETAIRWAYS, BPCL, MOIL, RAJESHEXPO, M&M,SUNTV.

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