CS CLOSING BELL:
NIFTY SPOT DOWN
89@10710
SENSEX DOWN 261@
35286
BANK NIFTY FUTURES
DOWN 128@ 26258
Tuesday, 19 June 2018
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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Saturday, 16 June 2018
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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Friday, 15 June 2018
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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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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Thursday, 14 June 2018
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.
Wednesday, 13 June 2018
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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