Tuesday, November 15, 2022

15th November 2022

 


Market Outlook: US markets ended lower as investors reacted to comments from Fed officials on future policy direction. Crude oil prices have fallen more than 3.5% after OPEC slashed its global oil demand outlook for a second consecutive month. SGX Nifty is indicating a positive start for Indian markets inline with Asian markets and US futures. On domestic front, CPI inflation eases to 3-month low of 6.77% in Oct, mainly due to softening food prices. From past few days, FIIs have remained as net buyers and bought amounting over 13k crore so far in this month. We remain positive on markets and expect the ongoing momentum to continue with sector and stock specific action.

 

Actionable: Buy Ambuja Cements, Mind tree, CDSL.

 

Global market:


DOW:   -211

SGX NIFTY:   +50   (prev. close 18377)


NIFTY 50 : 18329

Sensex : 61624

 

Institution:

FII:                +  1089    Cr

DII:                +  47        Cr


NSE:

Advances:  1668 / Declines:  1948


Currency:

Dollar: $ 81.26

Dollar Index: 107.01

 

Commodity:

Gold: $1772  per ounce

Crude: $92.93  per barrel

 

Bonds:

10 year US bond rate: 3.86

10 year Indian Bond rate: 7.29


Derivative:

PCR: 0.93

VIX:  14.91


Results Update:


Above estimates: KNR Constructions, Strides Pharma, Abbott India, AIA Engineering, Syrma SGS


Inline estimates: ONGC, Biocon, Apollo Tyres, Jyoti labs


Below estimates: Grasim Industries, Bharat Forge, Balkrishna Industries, Lux Industries, NMDC


Updates:


Today is the last day to buy Motherson Sumi Wiring India Ltd to be eligible for Bonus Issue (2:5).

 

Balkrishna Industries - Company withdraws its FY23 volume guidance of 3.2-3.2 lakh MT due to challenging macro environment.

 

Paytm - Paytm lock-in for Pre-IPO investors ends which is nearly 86% of the shareholding.

 

Larsen & Toubro Infotech - LTI and Mindtree both have got clearances from NCLT to operate as a single company from November 14. Record Date is fixed as 24th November for determining eligible shareholders in the amalgamation. All shareholders of Mindtree will be issued shares of LTI in the ratio of 73 shares of LTI for every 100 shares of Mindtree.


Adani Enterprises - SEBI approves Adani’s open offer for 26% shares of NDTV.

 

Biocon - Company's board approved proposals to raise funds through issuance of NCD worth $250 million (Rs.2,024.61 crore) and commercial papers worth $275 million (Rs.2,227.07 crore).

 

Securities in Ban: BHEL, GNFC, PNB, SUN TV.


Derivative View: Immediate Max Call OI is at 19000 and 18500 and max Put OI is at 18000 and 17500. Option data suggests an immediate trading range in between 18100 to 18600 zone.

Sunday, November 13, 2022

Next week market outlook from 14/11/2022 to 19/11/2022from from


·       In the coming week investors will be watching a spate of economic data, including US retail sales numbers on Wednesday, for more clues on whether the Fed's monetary policy tightening is cooling the economy. On the domestic front, Indian Retail Inflation data (CPI) will be announced on Monday which will be important for the market while most of the quarterly results have almost announced.

·       Expects rally to continue in the domestic equity on optimism that cooler-than-expected US inflation will lead to smaller rate hike by the US Federal Reserve and on China’s move to loosen its Covid Zero policies. On the domestic front, USDINR fell sharply to close 2-month low at below 81 indicated aggressive FIIs buying interest (FIIIs net buyers nearly Rs7k this week). Moreover, strong macro data - October PMI reported 6-month high to above 55, 4-month high September IIP data, stable oil price, impressive quarterly results and strong GST collection, will be positive for the market sentiment. Expect beaten down metal (China to relax zero covid policy stance) and IT stocks (global IT Major Index Nasdaq gained 7% this week) will be big positive for next week

·       The domestic market joined the global run as markets across the world cheered the lower-than-expected US inflation data and this was one of the best week in the stock market history. Indian bourses ended on record supported by strong domestic macro data and blessing by US inflation data which has fallen to significantly lower than estimated level along with core inflation number.

·       Global market witnessed biggest gains (between 3-8% and S&P 500 close to 4000 mark psychological level) in over two years after the US Inflation for October has come in at 7.7% (expectation at 7.9%) against previous month was at 8.2%. Core Inflation fell to 6.3% while expectation was 6.5%. US Dow Jones climbed up over 1300 points or 3.5% and Nasdaq Composite skyrocket by 7% against the previous week close. A slowdown in US inflation could mean the Federal Reserve won’t have to be so aggressive about raising interest rates. Market expect that the US Fed to raise rates again next month but by a smaller margin of one-half percentage point after a series of 0.75 percentage-point increases. US 10-Year (3.80% from 4.2%) and 2-year bond yield declined by 10% on a single day while Dollar Index fell to 4-month low to below low to below 106.

 

Weekly Update (Week on Week)

 

·       A sharp recovery in the rupee and unabated foreign capital inflows further bolstered sentiment. Sensex zoomed  845 points or 1.40% to settle at 61,795 -- surpassing its previous closing peak of 61,765 hit on October 18, 2021. Likewise, the broader Nifty rallied 233 points or 1.3% cent to finish at 18,350. This week, there was rally in PSU Bank, IT and Metal stocks.

·       Banking stocks witnessing major gainers this week led by HDFC twins and PSU Bank. Nifty PSU Bank Index soared by 6% after announced strong Q2 results. PSU Bank Index surged by 28% just one month. Nifty Metal Index gained by 2% on expectation of improve demand after China announced to partially remove covid lock down and US Dollar Index fell to 3-month low. Nifty IT Index advance 2% due to attractive valuation and Global IT Major Index Nasdaq Composite spiked by 7%. However, Nifty Pharma Index slipped 3% due to poor quarterly results announcement. Nifty Auto Index slipped by 2% after auto major Tata Motor reported lower than expected Q2 results

 

Short Term Buy

 

·       Cochin Shipyard, National Aluminium, Adani Ports, HDFC, Bank of India, SAIL, Tata Steel, Zomato, BoB, LTTS, Coforge

 

Long Term Buy

 

·       Axis Bank, Hindalco, LIC India, Infosys, TCS, SBI, Zee Entertainment, Reliance Industries, HAL, Patanjali Foods, Indian Hotel

 

Technical Levels

 

·       Nifty index has formed a Bullish candle on daily and weekly frame and has been forming higher lows from the last six weeks. Now, it has to hold above 18300 zones, for an up move towards 18500 then 18600 zones whereas supports are placed at 18188 and 18088 zones.

·       Bank Nifty has formed a Doji candle on daily frame and a Bullish candle on weekly frame. Now it has to hold above 41840 zones for an up move towards 42500 and 42750 zones whereas supports are placed at 41750 and 41500 zones.

 

Global Market Update

 

·       US, Europe and Asian markets gained between 3-8% this week.  The tech-heavy Nasdaq Composite rose 8% this week to notch its biggest weekly gain since March on optimism that a slower-than-expected US inflation print will lead to smaller rate hikes by US Fed. Moreover, expectation that the China to relax zero covid policy stance will be back in global demand. US Inflation for October has come in at 7.7% (expectation at 7.9%) against previous month was at 8.2%. Core Inflation fell to 6.3% while expectation was 6.5%. Cooler-than-expected US inflation data set the stage for a slowdown in aggressive interest-rate hikes resulted US 10-Year and 2-year bond yield corrected 10% from the peak and Dollar Index fell to 3-month low.

 

Commodity

 

·       Gold surged 5% to 3-month high at $1771/ounce following tweaks to China’s Covid-19 rules, the US inflation print, and weakness in the dollar, and events next week will shape whether gains hold or wither.

·       Brent Crude advance 2% to $96/bbl following China's announcement that it would relax some of its hardline Covid-19 restrictions, including shortening its quarantine requirements for international travelers by two days. Market expectation global demand will improve after China announced to partially lifted covid lockdown.

 

FIIs and DIIs

 

·       FIIs were net buyers Rs6330cr

·       DIIs were net sellers Rs2255cr

 

Results

 

·       Monday – Aarti Industries, Abbott India, Bharat Forge, Biocon, CESC, FDC, Grasim, GM Infra (Airport), Greaves Cotton, HUDCO, Indiabull Housing, IRCTC, IOL Chemical, Kaveri Seed, KNR Construction, LUX Industries, Mazda, Munjal Auto, Mishra Dhatu, NMDC, NBCC, ONGC, Parag Milk, SpiceJet, Sobha, Star Cement, Stovec, Uttam Sugar

·       Tuesday – Rajesh Exports

 

Corporate Action

 

·       Monday – PFC Dividend Rs5, EPL Rs2.15, Compuage Infocom Right issue 8:25 at a premium Rs18

·       Tuesday – Aegis Logistic Dividend Rs2, P&G Rs15, Coal India Rs15, Amaraja Batteries Rs2.90

·       Wednesday -  Motherson Aumi Wiring Bonus 2:5, Computer Age Manage Rs8.50

·       Thursday – Dhanuka Agritech Share Buy-Back, PDC Dividend Rs2.50, Oriental Carbon Rs7.

 

Global Data

 

·       US – Tuesday – Empire Manufacturing, Food, Manufacturing and commodities. Wednesday – MBA Mortgage Application, Retail sales data, Industrial Production Data, NAHB Housing Data. Thursday – Housing Starts, Initial Jobless Data. Friday – Existing Home sales Data

·       Europe – Monday - House Price Data, Economy Survey (UK), Economy Survey (Germany), Economy Survey (France). Tuesday – Whole Price Index (Germany), CPI, Unemployment Rate (France), Payroll, Employment Rate, Jobless Claims (UK). Wednesday – CPI, Retail Sales (UK). Friday – Retail sales, Consumer Confidence (UK)

·       China – Tuesday - Industrial Production, Industrial Production. Wednesday – New Home Sales

·       India – Monday – WPI, CPI, Exports & Import.


Wednesday, November 9, 2022

Global Market Update

  US Stocks Slightly Lower With Midterms Still Undecided… European Stocks Drop as Inflation Jitters Keep Buyers Cautious


·       US stocks marginally lower with midterm elections still being decided but as an expected "red wave" of Republican victories failed to materialize. Although many races were still too close to call, the emerging consensus among investors was that Congress was heading for more gridlock. Dow Jones slipped over quarter percent

·       European stocks fell for the first time in four days as investors turned cautious ahead of key US inflation data that could provide further clues on the course of monetary policy tightening. UK, France and Germany Index declined half percent each.

·       Oil fell 1% to below $95/bbl amid a challenging Chinese demand outlook and after an industry report pointed to rising US inventories.

·       Gold steadied  at $1709/ounce after jumping the most in a month as investors look to this week’s US inflation readings for hints on the precious metal’s direction.

·       FIIs were net buyers Rs387cr while DIIs were net sellers Rs1060cr

Tuesday, April 21, 2015

Corporate stories on 21/04/2015




21:06 | Swamy preparing to move court against SpiceJet deal
20:48 | SpiceJet opens advance bookings up to March 2016
20:22 | Soon, all life-saving drugs may become affordable
19:52 | Ramco Systems net profit down 49% in Q4
19:50 | Smart city project: Japanese tech firm NEC wants to partner at least 20 cities
19:26 | Conglomerates miss the boat as new-age businesses rise
19:16 | Lanco Infra completes Udupi plant sale to Adani Power
18:56 | StitchWood.com to raise Rs 4.5 crore in funding
18:52 | Freshdesk Gets $50 mn Funding From Tiger, Accel, Google Cap
18:50 | Uncertainties cloud earnings visibility of key power players
18:24 | AirAsia sets up Delhi base, will launch flights from May 21
18:20 | PFC to raise upto Rs 60,000 cr in FY16
18:18 | Indian Hotels to make profits in 2 years: Rakesh Sarna
18:18 | Indian Hotels open to putting a bid for Taj Mansingh
17:21 | Daiichi to exit Sun Pharma
17:14 | Mylan says will invest $ 5-billion in Andhra Pradesh
17:12 | The real reason why Reliance stock has taken a beating despite strong earnings
15:32 | Carzonrent buys startup Ridingo; aims Rs 6K cr sales in 5 yrs
14:45 | ONGC to take over Tapti field facilities
14:16 | GoAir seeks Airbus instructors as 35 pilots resign
14:06 | Mylan invests $5 bn more in Andhra Pradesh
13:57 | Data analytics can help retailers know consumer behaviour
13:57 | Hyundai launches new Elantra sedan priced at Rs 17.94 lakh
13:57 | Aegis gets 5-acre land to develop new port at Kandla
13:57 | BHEL commissions 250-mw thermal power plant in Gujarat
13:49 | Govt could likely sell 5% stake in Coal India in FY16, too
09:14 | RIL to shut down few retail outlets

Wednesday, April 15, 2015

Corporate Stories 15/04/2015




20:42 | Mumbai airport sells Mallya jet to scrap dealer
20:32 | Assocham seeks 25% cut in iron ore prices by NMDC
20:10 | Steel, oil turnaround to lift Essar group's fortunes
19:56 | Bosch lifts lockout at Jaipur plant
19:24 | SoftBank may put more money into Snapdeal
19:22 | SBI Card begins valuation exercise as partner GECaps plans exit
19:22 | Cleartrip pulls out of Internet.Org, supports net neutrality
19:10 | Lower court grants bail to Deccan Chronicle promoters
19:08 | Brocade Communications commits $300 mn addl investment in India
18:52 | Indian e-commerce sector to turn operating profitable by 2020: report
18:26 | RIL preview: Record Q4 results in the offing
18:22 | India Inc invests $2.27 bn overseas in March, down 59%
18:02 | Foreign investors can buy up to 49% in Eicher Motors
17:36 | Tata group starts online grocery service in Mumbai
17:36 | We'll start our e-commerce venture this year: Shashwat Goenka
17:32 | Uber spreading wings in India by rolling out attractive offers
17:10 | Hyderabad HC rejects bail to Deccan Chronicle promoters
17:04 | Dell says bullish on India's e-commerce sector
16:56 | Coal India gets few takers for imported coal in maiden year
16:07 | GST expected to overhaul distribution setup
16:06 | Over 8 mn Indians to book hotels online by 2016 says Google report
15:35 | Tech Mahindra teams up with Comverse, to take on Israeli engineers
15:22 | PE Electronics eyes 10% in TV mkt with Philips brand by 2016
15:07 | State Bank of Travancore raises Rs 474 cr via rights issue
15:06 | Govt, realty players on same page on TDR utilisation in Mumbai
15:00 | Aurobindo to launch Cefixime oral suspension in the US, gets final approval
14:07 | GSM mobile operators add 8.2 mn subscribers in March: COAI
13:58 | Sugar industry worse off after two years of partial decontrol
13:57 | Walmart India appoints Pankaj More as Technology Head
13:42 | BHEL, Russian firm ink pact for power plant in Kazakhstan
13:15 | Grocery delivery app PepperTap to expand to 10 more cities
13:14 | Grofers to raise $35 million from Tiger Global and Sequoia Capital
13:13 | Metro Cash & Carry to open 4th wholesale store in Bengaluru
13:07 | Aurobindo gets USFDA nod to sell antibiotic oral suspension
12:32 | Strides Arcolab gets USFDA nod for bowel cleansing medicine
12:23 | India may take WTO action against EU over drug clinical trials: GVK

Monday, April 13, 2015

Corporate stories on 13/04/2015




20:47 | Surya Roshni targets three-fold hike in fan sales
20:24 | ICRA downgrades loan ratings for 2 GMR power projects to default grade
20:13 | Airlines get free hand to charge on additional facilities
20:06 | Customer to drag Flipkart to court over fake speaker
19:42 | Avia was bought by Ashok Leyland's associate company in UAE
19:42 | Naveen Jindal & family under ED radar
19:20 | Satyam's Raju files appeal against his conviction
19:14 | Companies, personnel in coal scam under ED scanner
19:10 | New NGT order might further hit construction schedules at Noida Extn
19:08 | DGCA proposes psychological screening of pilots
17:36 | Renault India expects sales to double compared to 2014
17:30 | Educomp may hive off overseas businesses
16:58 | RBI cleared repatriation of Grosvenor House loan, says Sahara
15:22 | Govt lines up 12 PSUs for stake sale, to raise Rs 41000 cr
15:13 | Havells gears up for smart city projects
14:37 | Essar Power commissions the first unit of 120 Mw Paradip power plant
14:32 | Indsil Hydro suspends smelting ops on weak market conditions
14:32 | BHEL commissions 600-MW thermal unit in Chhattisgarh
14:22 | Essar Power commissions 1st unit of 120 MW Paradip Power Plant
14:14 | Indian PSUs to invest another $6 bn in Mozambique: Oil Min
13:59 | Madras HC asks CCI not to pass any order against Hyundai till it gives its final order
13:42 | Specialty food chain Godrej Nature's Basket ties up with Amazon India
13:42 | Infosys to re-engineer Finacle, revamp compensation structure
13:22 | ONGC, others to invest $6 bn in Mozambique
10:42 | Sahara supports Sebi's claim to bring back $13 million from company jet sale
10:29 | Further Coal India share sale possible: FinMin official
09:03 | ICRA downgrades GMR Group's loan ratings to default grade