Rupee slide to weaken equity return; weak rupee keep the market volatile

The broader market doesn't like a weak rupee. Historically, stock market returns have been poor in the year when the Indian currency has depreciated against the dollar and vice versa.

 The rupee is down 7.1 per cent against the dollar since January and the benchmark BSE Sensex index is up only 2.8 per cent during the period, sharply down from the 17 per cent rise in the same period last year.


The Indian market remained volatile during the week due to the F&O expiry with Nifty able to end above 10,700 on the back of last day (Friday) bounce back.

Rising crude price, depreciating rupee and volatile global market has put pressure on the Indian market. Rupee has crossed 69 per dollar mark during the week and ended at 68.47. Crude prices also jumped to a three-year high.

For the week, Nifty shed 107 points (down 1 percent) at 10,714.3 and Sensex was down 266.12 points (0.74 percent) at 35,423.48.

Foreign investors stayed net sellers, while domestic institutions were buyers in the last week.

India's volatility index (India VIX) rose 7.6 percent last week, while S&P BSE smallcap index declined 3 percent, S&P BSE Midcap down 2.4 percent, and the largecap index shed 1 percent.

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Capitalstars Opening Bell : 29 june 2018

Capitalstars financial research

CS OPENING BELL:

NIFTY SPOT UP 39@ 10,628
SENSEX SPOT UP 112@ 35150
BANK NIFTY FUTURES SPOT UP 113@ 26,352


CS NIFTY FUTURES (JUNE ) OVERVIEW

TREND BEARISH
RES2: 10840
RES 1:10710
SUP1:10550
SUP2:10410


CS BANK NIFTY FUTURES (JUNE ) OVERVIEW

TREND BEARISH
RES 2: 26880
RES 1: 26620
SUP1: 26200
SUP2: 25900

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Capitalstars Opening bell : 28 june 2018

capitalstars financial research

CS OPENING BELL:

NIFTY SPOT DOWN 21@ 10,650
SENSEX SPOT DOWN 30.70@ 35186
BANK NIFTY FUTURES SPOT DOWN 35@ 26,356


CS NIFTY FUTURES (JUNE ) OVERVIEW

TREND BEARISH
RES2: 10780
RES 1:10710
SUP1:10580
SUP2:10530


CS BANK NIFTY FUTURES (JUNE ) OVERVIEW

TREND BEARISH
RES 2: 26830
RES 1: 26620
SUP1: 26200
SUP2: 25900


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Capitalstars Opening Bell : 27 june 2018

CS OPENING BELL:

NIFTY SPOT DOWN 6@ 10,763

SENSEX SPOT UP 5@ 35495

BANK NIFTY FUTURES SPOT DOWN 58 @ 26,550

CS NIFTY FUTURES (JUNE ) OVERVIEW

TREND BEARISH

RES2: 10880

RES 1:10810

SUP1:10690

SUP2:10585

CS BANK NIFTY FUTURES (JUNE ) OVERVIEW

TREND BEARISH

RES 2: 27060

RES 1: 26800

SUP1: 26400

SUP2: 26100

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Capitalstars Opening Bell : 26 june 2018

CS OPENING BELL:

NIFTY SPOT DOWN 23@ 10,737

SENSEX SPOT DOWN 72@ 35397

BANK NIFTY FUTURES SPOT DOWN 114 @ 26,495

CS NIFTY FUTURES (JUNE ) OVERVIEW

TREND BEARISH

RES2: 10880

RES 1:10810

SUP1:10690

SUP2:10585

CS BANK NIFTY FUTURES (JUNE ) OVERVIEW

TREND BEARISH

RES 2: 27060

RES 1: 26800

SUP1: 26400

SUP2: 26100

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Sensex down over 100 points, Nifty gives up 10,800; Asian shares slip on trade worries

Shares of Symphony gained 4 percent as company is going to acquire 95 percent stake in Climate Technologies Pty.
The company has entered into a share sale agreement to effectively purchase 95 percent equity stake in Climate Technologies Pty through a new incorporated subsidiary company Symphony AU Pty, Australia.

The acquisition will be executed at a valuation range of A$ 40-44 million (Rs 201 crore - Rs 22I crore) depending on the achievement of FY18F EBITDA (June ended), company said in release.

Further, the valuation is subject to change based on customary closing conditions. The company plans to finance the acquisition through a judicious mix of debt and internal cash accruals, it added.

  Shares of ICICI Bank lost around 2 percent in the morning trade as investors turned cautious of another whistleblower complaint against it.The stock has touched an intraday high of Rs 300.20 and an intraday low of Rs 295.45.

TOKYO (Reuters) - Asian shares fell on Monday on escalating trade tensions between the United States and major economies while oil prices gave up some of their hefty gains made after major oil producers agreed to a modest increase in production.

S&P500 mini futures eased as much as 0.6 percent in early trade while MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.25 percent. Japan's Nikkei lost 0.4 percent.

The falls were triggered by a report from the Wall Street Journal that U.S. President Donald Trump plans to bar many Chinese companies from investing in U.S. technology firms and block additional technology exports to China.

The reduction in reserves, the third by the central bank this year, had been widely anticipated by investors and is aimed to accelerate the pace of debt-for-equity swaps and spur lending to smaller firms.Following the move, the CSI300 Index of mainland Chinese shares rose 0.1 percent in early trade.

On the other hand, the index of global auto manufacturers, which shed 4.7 percent last week, remained soft.Trump threatened to impose a 20 percent tariff on Friday on all imports of EU-assembled cars, a month after his administration launched an investigation into whether auto imports posed a national security threat.

A senior European Commission official said on Saturday that the European Union will respond to any U.S. move to raise tariffs on cars made in the bloc.

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Nifty forms 'Bullish Engulfing' pattern; stock falls 25% post Q4 results

The late rally in banking & financials helped the the 50-share NSE Nifty recoup all its losses seen in the previous session and closed strongly above 10,800 levels on Friday, forming a 'Bullish Engulfing' pattern on the daily chart and a Doji type of candle on the weekly scale.

The index also rebounded sharply from close to its support levels of 10,700 levels.A bullish engulfing pattern is made up of two candles and is formed when a small black candle is followed by a large bullish candle that completely engulfs the previous day’s candle.

The Nifty50, after opening at 10,742.70, traded lower in the morning to hit day's low of 10,710.45, but recouped all those losses in afternoon and then turned strong in the last hour of trade to hit an intraday high of 10,837. It ended at 10,821.90, higher by 80.80 points from the last close.

Growth in the Chemicals and Polymers business (CPB) segment was on the back of healthy pricing and volume growth in the refrigerants business. The company also filed a patent for a drop in substitute for R-22 along with the DMF for Dymel’s HFC 134A pharma. Specialty chemical business remained subdued due to lower demand from the agrochemical segment with the overall outlook likely to improve only by the end of the calendar year,” analyst at Edelweiss Broking said in result update.

The brokerage firm believes the growth from dedicated plants and deferred orders in specialty chemicals business would drive growth in FY19 in wake of a delayed AgChem cycle recovery with capacity expansion in refrigerants to bolster growth in FY20.

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Capitalstars opening bell : 22 june 2018

CS OPENING BELL:

NIFTY SPOT DOWN 16@ 10,722

SENSEX SPOT DOWN 30@ 35401

BANK NIFTY FUTURES SPOT DOWN 10 @ 26,464

CS NIFTY FUTURES (JUNE ) OVERVIEW

TREND BEARISH

RES2: 10875

RES 1:10810

SUP1:10640

SUP2:10585

CS BANK NIFTY FUTURES (JUNE ) OVERVIEW

TREND BEARISH

RES 2: 27060

RES 1: 26800

SUP1: 26400

SUP2: 26210

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Sensex consolidates amid global trade war fears; stock surges 50% from 52-week low

The market remained rangebound as investors monitor developments over trade tariffs between the world's largest economies US and China.

Index heavyweights Reliance Industries, Infosys, ICICI Bank and HDFC continued to support the market while FMCG and select banks stocks are under pressureThe sectoral trend remained mixed with the PSU Bank index falling over a percent.

The Nifty continues to remain in a range - the broader range for the overall direction of the markets is about 350 points. The support is at 10,550 and the resistance is at 10,900. We are vacillating within this range since the beginning of this month.

From a trading perspective the trimmed version of this range would be 10,700 - 10,850, a 150 points. This is usually not really a task for the index. However, these are testing times and a trader must be cautious on these levels being respected.

The good news however is that a one sided move would be expected if either levels are crossed which would then promise a delightful trade.

The company has a strong financial profile reflected in robust debt protection metrics and gearing of less than 1 times. The company is approaching the end of its large capex plan in its petrochemical & refining and telecom segments. This capital expenditure is mainly to strengthen its refinery and petrochemicals business and in the pan-India telecom and broadband services through Reliance Jio Infocomm, it added.

“RIL’s capex of USD 18.5 billion in Refining and Chemicals is nearing completion. Some projects are already operational, and will boost EBITDA in the core business over FY17-20E. During the last five years, high capex in Telecom and Core business has dragged RIL's free cash flow. Rising dividend payouts are likely hereon. Jio continues to gain 4G subscriber share, making us constructive on the business,” HDFC Securities said in Q4FY18 results update. The brokerage firm maintains ‘buy’ rating on the stock with 12 month SOTP-based target price of Rs 1,178.

The 30-share BSE Sensex rose 23.19 points to 35,570.52 and the 50-share NSE Nifty gained 4.20 points at 10,776.20.The market breadth is in favour of declines as about 1,069 shares slipped against 823 advancing shares on the BSE.

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Capitalstars Opening Bell : 20 june 2018

CS OPENING BELL

NIFTY SPOT UP 40 @ 10751

SENSEX SPOT UP 115 @ 35402

BANK NIFTY FUTURES SPOT UP 67 @ 26324

CS NIFTY FUTURES (JUNE ) OVERVIEW

TREND BEARISH

RES2: 10875

RES 1:10810

SUP1:10640

SUP2:10585

CS BANK NIFTY FUTURES (JUNE ) OVERVIEW

TREND BEARISH

RES 2: 26590

RES 1: 26400

SUP1: 26100

SUP2: 25900

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CS CLOSING BELL: 19 JUN 2018

CS CLOSING BELL:

NIFTY SPOT DOWN 89@10710

SENSEX DOWN  261@ 35286

BANK NIFTY FUTURES DOWN 128@ 26258

HAPPY TRADING!!!!!!!!!!!

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Hindustan Zinc fall 3-4%; ICICI Bank jumps 2%; IT index rallies 24% in CY18

Nifty midcap was trading lower but individual stocks are buzzing with Bata India up 2 percent followed by Mcleod Russel India.The broader indices are trading on a negative note this Monday morning with the Nifty down 22 points at 10,795 and the Sensex is trading lower by 65 points at 35,557.

Metal stocks were the biggest losers as Tata Steel, Jindal Steel & Power, JSW Steel, Hindalco Industries and Hindustan Zinc were down up to 3 percent.From the real estate space, Unitech, HDIL, Indiabulls Real Estate, Phoenix Mills and Sobha were the top losers.

The top gainers among Nifty constituents were HPCL, ICICI Bank, IOC, BPCL and HCL Tech.The most actively traded stocks on the NSE were Tata Consultancy Services, ICICI Bank, Dr Reddy's Labs, Infosys and Strides Shasun.

Bajaj Finance, Bharat Financial Inclusion, Jubilant Foodworks and Page Industries were the few stocks that hit fresh 52-week highs in the morning trade.On the other hand, 34 stocks hit a new 52-week low. These include ICRA, Bharti Infratel, IOB, Manpasand Beverages, MRPL, Tata Power and Vedanta among others.

The breadth of the market favoured declines, with 529 stocks advancing, 1035 declining and 492 remaining unchanged. On BSE, 681 stocks advanced, 1134 declined and 82 remained unchanged.

TCS hit a new high of Rs 1,871, up 1.6% on Monday, extending its Friday’s 2.7% gain the BSE after the company’s board approved a proposal to buy back up to 76 million equity shares worth about Rs 160 billion. The buyback price has been fixed at Rs 2,100 a share, a 14 per cent premium over its Friday’s closing price of Rs 1,841 market price. The promoters’ holding in the company now stands at 71.92%.Infosys, too, hit a new high of Rs 1,291, up 0.8%, extending its previous day’s 3.3% gain on the BSE.

At 09:38 am; the S&P BSE Index up 0.1% at 13,965, hit a record high of 14,071 in intra-day trade today. On comparison, the S&P BSE Sensex was trading 0.09% lower at 35,586 points.

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Dr Reddy's Lab rises 6%; Infosys up 3%; India proposes retaliatory tariffs on 30 US products

In the banking space, ICICI Bank was down 1.31 percent at USD 8.28 and HDFC Bank was up 0.38 percent at USD 101.96.Indian ADRs ended mostly higher on Friday. In the IT space, Infosys rose 3.14 percent at USD 18.73 and Wipro added 1.89 percent at USD 4.85.

India has now submitted a revised list of 30 items including motorcycle, certain iron and steel goods, boric acid and lentils to the WTO on which it proposes to raise customs duty by up to 50 per cent.

The revision is being provided to adjust the products and the tariff rates in accordance with India's rights reserved vid its notification to the Council for Trade in Goods contained in the WTO document of 18 May 2018.

The other items include chickpeas, fresh apple, walnut, refined palmolein, motorcycle with engine capacity over 800 cc, diagnostic reagents and threaded nuts.

India has also dragged the US to the World Trade Organisations dispute settlement mechanism over the imposition of import duties on steel and aluminium.

India's exports of steel and aluminium products to America stood at about $1.5 billion every year. Its exports to the US in 2016-17 stood at $42.21 billion, while imports were $22.3 billion.

In the banking space, ICICI Bank was down 1.31 percent at USD 8.28 and HDFC Bank was up 0.38 percent at USD 101.96.In the other sectors, Tata Motors shed 0.76 percent at USD 22.15 and Dr Reddy's Laboratories gained 6.18 percent at USD 35.06.

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                     www.capitalstars.com/equity/

Reliance Industries, Bajaj Finance, Jubilant FoodWorks hit new highs;UPL gains 3%

Shares of Reliance Industries, Bajaj Finance, United Breweries, Page Industries, Jubilant FoodWorks and Sundram Fasteners from the S&P BSE500 index hit their respective new highs in intra-day trade in otherwise subdued market.

Jubilant FoodWorks was up 2% to Rs 2,765, surpassing its previous high of Rs 2,748 touched on May 28, 2018, ahead of 1:1 bonus issue. The stock has rallied 54% thus far in CY18.

Thus far in the current calendar year 2018 (CY18), all these stocks have outperformed the market by gaining by upto 54%, as compared to 4.6% rise in the S&P BSE Sensex.

Jubilant FoodWorks has fixed Saturday, June 23, 2018 as the record date, for the purpose of determining the list of equity shareholders of the Company, who will be entitled for issue and allotment of bonus equity shares. The stock will turn ex-bonus on Thursday, June 21, 2018.

The theme around favourable demographics, rising disposable income and low per capita beer consumption continues to attract global beer companies in India. From a regulatory perspective, the worst appears to be over with fading of highway ban and stable state excise policies that would create a favourable consumer pricing scenario and assist overall volume growth. In addition to the same, formalisation of the sector (corporation model) would benefit large players like UBL, analyst at ICICI Securities said in result update. The brokerage firm maintains BUY rating on the stock with a revised target price of Rs 1330.

Shares of UPL gained around 3 percent in the morning trade on Friday after Deutsche Bank reiterated its buy call on the stock with a target of Rs 890 apiece.

The stock has lost 3 percent in the past one month, while in the past three days, it has gained over 2 percent. At 11:01 hrs UPL was quoting at Rs 704.00, up Rs 19.30, or 2.82 percent, on the BSE. It touched an intraday high of Rs 705.55 and an intraday low of Rs 686.65.

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Indian rupee opens at 67.54 per dollar; gains 10 paise; Indices trade lower as Fed raises rate

The Indian rupee gained in the opening trade on Thursday. It has opened higher by 10 paise at 67.54  per dollar versus 67.64 yesterday.

The Fed dropped its pledge to keep rates low enough to stimulate the economy “for some time” and signaled it would tolerate inflation above its 2% target at least through 2020.

The USD-INR pair after opening higher came under pressure in the latter half of the session as the dollar fell against its major crosses. Volatility for the dollar was confined to a narrow range ahead of the FOMC policy statement that was released last evening. The Fed chairman, in line with expectation, raised rates by 25bps and officials projected to raise rates twice more this year.

Benchmark indices  trade  lower after US Federal Reserve raised interest rates and took a more hawkish tone in forecasting a slightly faster pace of tightening for the rest of the year, while concerns about US-China trade frictions also might keep investors on edge. 

Back home, India's current account deficit (CAD) rose to $13 billion (Rs 878 billion and 1.9 per cent of gross domestic product, or GDP) in the fourth and final quarter (Q4 of 2017-18), compared to $2.6 billion (Rs 176 billion and 0.4 per cent of GDP) in the same period of 2016 -17.

The Fed has raised rates seven times since late 2015 on the back of the economy's continuing expansion and solid job growth, rendering the language of its previous policy statements outdated.

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Bharat Forge gains 2%, acquires 35% stake; D-Mart hit fresh 52-week high

The company has entered into an investment agreement with Tevva Motor, Bharat Forge International, UK and existing shareholders of Tevva.

Share price of Bharat Forge rose 2 percent intraday Wednesday as company acquired stake in UK based company.

Tevva provides electric power train solutions for commercial vehicles & buses in the 7.5 - 14 T weight category. This is soon to be extended for the development of new commercial vehicles, especially trucks and buses.

Pursuant to agreement, the company has acquired 34.53 percent and Bharat Forge International, UK, a wholly owned subsidiary of company has acquired 0.73 percent stake in Tevva, aggregating to combined stake of 35.26 percent.

Nifty infra was up in the morning trade led by Interglobe Aviation, Bharat Heavy Electricals, Reliance Communications and PTC India.

Bank Nifty was marginally trading in the positive territory helped by gains from ICICI Bank, HDFC Bank and IndusInd Bank.

The top gainers among Nifty constituents were Sun Pharma, Dr Reddy's Labs, Lupin, Titan Company and Tata Consultancy Services.

Avenue Supermarts, GSK Pharma, Infosys, Quess Corp and Tata Elxsi were the few stocks that hit fresh 52-week highs in the morning trade.

On the other hand, 25 stocks hit a new 52-week low. These include Kwality and Videocon Industries among others.

The breadth of the market favoured advances, with 1012 stocks advancing, 524 declining and 509 remaining unchanged. On BSE, 1089 stocks advanced, 482 declined and 58 remained unchanged.

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Capitalstars Opening Bell : 12 june 2018

CS OPENING BELL:

NIFTY SPOT UP 7 @ 10795

SENSEX UP 14 @ 35496

BANK NIFTY FUTURES DOWN 17 @ 26460

CS NIFTY FUTURES (JUNE ) OVERVIEW

TREND BULLISH

RES2: 10920

RES 1:10875

SUP1:10725

SUP2:10640

CS BANK NIFTY FUTURES (JUNE ) OVERVIEW

TREND BULLISH

RES 2: 26925

RES 1: 26765

SUP1: 26320

SUP2: 26130

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