DAILY REPORT 09 th OCT. 2015 YOUR MINTVISORY Call us at +91-731-6642300 Global markets at a glance European shares closed higher on Thursday as auto stocks gained, but investors remained wary about the global eco- nomic outlook and the upcoming earnings season. The pan- European FTSEurofirst 300 index closed up 0.26%. The euro zone's blue-chip Euro STOXX 50 index was little changed. Asian stocks marched higher on Friday, following a positive lead from Wall Street, fueled by dovish signals from the US Fed minutes. The Nikkei closed down 1% on Thursday, snapping a six-session winning streak, after taking a hit from weak machinery orders data and profit-taking. The Nikkei 225, Japan's benchmark index, opened up 0.8% at 18,281.51, recovering some of Thursday's losses. Chinese stocks continue to be in focus, after the Shanghai Composite surged 3 percent on Thursday in a catch-up rally post a week-long holiday. The market's performance on Friday was far less impressive, with the index rising just 0.2 percent in early trade. Hong Kong stocks, on the other hand, logged solid gains at the start of trade, with the Hang Seng Index up 1.5 percent after being hit by profit taking a day earlier. In the US, the Dow Jones Industrial Average closed above 17,000 for the first time since Aug. 19, gaining almost 1 percent and ending the session 138 points higher at 17050.75. The S&P 500 closed up almost 1% at 2,013.43 and the Nasdaq up 0.4% at 4,810.79. The rises came as in- vestors digested the Fed's September meeting minutes. Previous day Roundup The market lost ground for first time in last seven trading sessions due to profit booking in private banks, FMCG, oil and select pharma stocks. However, metals stocks bucked the trend. The Sensex fell 190.04pts or 0.70% to 26845.81 after rallying more than 1400pts in previous six consecutive sessions. The Nifty declined 48.05pts or 0.59% to 8129.35. The BSE Midcap index underperformed benchmarks, losing 1%. Overall it was a consolidation ahead of Sept quarter earnings that will begin on Monday with Infosys numbers. Index stats The Market was side-ways in last session. The sartorial indi- ces performed as follow; Consumer Durables [up 2754pts], Capital Goods [down 88.58pts], PSU [down 8.65pts], FMCG [down 83.22Pts], Realty [down 7.26pts], Power [down 9.23pts], Auto [down 96.37Pts], Healthcare [down 182.95Pts], IT [down 22.10pts], Metals [up 23.86pts], TECK [down 24.33pts], Oil& Gas [down 77.59 pts]. World Indices Index Value % Change D J l 17050.75 +0.82 S&P 500 2013.43 +0.88 NASDAQ 4810.79 +0.41 FTSE 100 6374.82 +0.61 Nikkei 225 18282.06 +0.78 Hong Kong 22712.84 +1.60 Top Gainers Company CMP Change % Chg ULTRACEMCO 2,816.00 62.50 2.27 ADANIPORTS 321.30 6.75 2.15 VEDL 92.65 1.90 2.09 TATASTEEL 240.70 3.90 1.65 ASIANPAINT 874.95 9.90 1.14 Top Losers Company CMP Change % Chg GAIL 304.20 8.85 -2.83 RELIANCE 892.40 21.40 -2.34 ITC 339.85 7.40 -2.13 KOTAKBANK 650.00 10.50 -1.59 YESBANK 725.35 10.40 -1.41 Stocks at 52 Week’s HIGH Symbol Prev. Close Change %Chg GRANULES 155.80 2.05 1.33 JINDALPOLY 491.00 19.45 4.12 PGEL 190.00 3.05 1.63 RUSHIL 228.20 30.10 15.19 Indian Indices Company CMP Change % Chg NIFTY 8129.35 -48.05 -0.59 SENSEX 26845.81 -190.04 -0.70 Stocks at 52 Week’s LOW Symbol Prev. Close Change %Chg VAIBHAVGBL 363.50 4.60 1.28 - -
Transcript
DAILY REPORT
09th
OCT. 2015
YOUR MINTVISORY Call us at +91-731-6642300
Global markets at a glance
European shares closed higher on Thursday as auto stocks gained, but investors remained wary about the global eco-nomic outlook and the upcoming earnings season. The pan-European FTSEurofirst 300 index closed up 0.26%. The euro zone's blue-chip Euro STOXX 50 index was little changed.
Asian stocks marched higher on Friday, following a positive lead from Wall Street, fueled by dovish signals from the US Fed minutes. The Nikkei closed down 1% on Thursday, snapping a six-session winning streak, after taking a hit from weak machinery orders data and profit-taking. The Nikkei 225, Japan's benchmark index, opened up 0.8% at 18,281.51, recovering some of Thursday's losses.
Chinese stocks continue to be in focus, after the Shanghai Composite surged 3 percent on Thursday in a catch-up rally post a week-long holiday. The market's performance on Friday was far less impressive, with the index rising just 0.2 percent in early trade. Hong Kong stocks, on the other hand, logged solid gains at the start of trade, with the Hang Seng Index up 1.5 percent after being hit by profit taking a day earlier.
In the US, the Dow Jones Industrial Average closed above 17,000 for the first time since Aug. 19, gaining almost 1 percent and ending the session 138 points higher at 17050.75. The S&P 500 closed up almost 1% at 2,013.43 and the Nasdaq up 0.4% at 4,810.79. The rises came as in-vestors digested the Fed's September meeting minutes.
Previous day Roundup
The market lost ground for first time in last seven trading sessions due to profit booking in private banks, FMCG, oil and select pharma stocks. However, metals stocks bucked the trend. The Sensex fell 190.04pts or 0.70% to 26845.81 after rallying more than 1400pts in previous six consecutive sessions. The Nifty declined 48.05pts or 0.59% to 8129.35. The BSE Midcap index underperformed benchmarks, losing 1%. Overall it was a consolidation ahead of Sept quarter earnings that will begin on Monday with Infosys numbers.
Index stats
The Market was side-ways in last session. The sartorial indi-ces performed as follow; Consumer Durables [up 2754pts], Capital Goods [down 88.58pts], PSU [down 8.65pts], FMCG [down 83.22Pts], Realty [down 7.26pts], Power [down 9.23pts], Auto [down 96.37Pts], Healthcare [down 182.95Pts], IT [down 22.10pts], Metals [up 23.86pts], TECK [down 24.33pts], Oil& Gas [down 77.59 pts].
After a weakness in market RUSHIL DECOR made new high of 232.45 while ti finished with 15% gain with record vol-ume in this year while it also cross 218.70 resistance on closing basis where in 2012 it given huge bullrun so we advise to buy it above 232.50 for target of 240 250 260 use stop loss of 222 MACRO NEWS Bombay HC rules in favour of Vodafone in Rs 8500cr tax
case Moody's assigns lowest investment grade rating to M&M Rajasthan govt not satisfied with 15% royalty from Cairn Cipla ties up with Serum Institute to sell vaccines in
South Africa Steel consumption declines 5.2%, output down 1.3% Private equity sector hots up, record deals worth $14
billion signed in January-September Moody's assigns lowest investment grade rating to M&M Green panel nod import of coal with higher ash content Mangalore Refinery and Petrochemicals plans to set up
LNG Terminal at Mangalore port Apollo’s clinic arm plans to raise up to Rs 500 crore from
PE cos Torrent Pharma board approves Zyg Pharma's amalga-
mation RelInfra plans to exit cement business, puts unit on block Vedanta urges Centre for reasonable tax regime Fortis owned SRL Diagnostics plans `1250 cr share sale Aurobindo Pharma set to raise $300mn via QIP Vedanta
eyes solar energy biz, plans to create 500MW capacity CARE cuts ratings Hindalco’s NCDs worth `6000 cr to AA
from AA+ GMR - DIAL keen on bond issue to repay bank loans Bharti Airtel Launches Wi-Fi App 'Airtel Hangout' FIPB To
Consider 11 FDI Proposals On October 19 Power Grid Grid Conductors To Mfg Aluminium Alloy
After given positive bounce in last expiry RELINFRA faced resistance at 371 at last session it finished around 360 which is 55DMA while Stochastic in over bought zone and RSI also create channel line so we can see pattern breakdown on EOD as well as RSI for that we advise to sell it around 367-370 use stop loss of 377 for target of 361-355-345.
2. TECHM [FUTURE]
Since Index is moving in fix range for that it IT share also traded subdued whole week TECHM move in range of 580 to 560, at last session it finished flat around 565 so it will be still good to sell around 570-575 use stop loss of 586 for target of 560-540-520.
STOCKS IN NEWS Crompton Greaves to sell stake in CG Lucy Switchgear
to its JV partner for Rs 40.2 crore IOC will not ink long-term LNG price deals RCom completes due diligence for merger with MTS Plan to invest around Rs 7500cr over next 3 years:
M&M Rajesh Exports gets order worth Rs 1,360 crore from
UAE IndusInd Bank Q2 profit, NII growth may be over 26% Jubilant Life gets USFDA nod for Indomethacin capsules NIFTY FUTURE
Nifty Future in last trading session remained range bound. It hardly traded 70 points along the day. As Nifty is respecting the resistance around 8200 since last three session it may continue it tomorrow. So for tomorrow we advise you to sell Bank nifty Future around 8190 for the targets of 8070 and 7950 with strict stop loss of 8380
NCDEX ROUNDUP Following a sharp spurt in the prices of pulses in ready mar-kets, the govt of Maharashtra is proposing to announce stock limits and is also planning to set up a price monitoring cell. The arrivals of Kharif pulses are about to start but local markets have been witnessing very good demand over last few weeks. Tur daal is quoting quoted around Rs 170 per kg in retail markets, up from Rs 80 per kg year ago. Similarly, Urad daal is quoted around Rs 130 per kg as compared to Rs 90 per kg year ago. Vegetables are steadily slipping out of the common man’s plate, due to skyrocketing prices. Since the monsoon started about three months ago, prices of vegetables jumped by upto 157 per cent. prices of almost all vegetables had shot up sharply on lower arrivals. For example, pointed gourd (parval) has seen a price rise of 157 per cent to trade in the range of Rs 3,000 to Rs 3,600 a quintal on Thursday, as against Rs 1,000 to Rs 1,400 a quintal three weeks ago. Other vegetables like bitter gourd, brinjal and cauliflower firmed up by upto 78 per cent since September 16. An attack of whitefly and diseases like leaf curve virus on the cotton crop in North India has taken an ugly shape. Yields have fallen sharply, with allegedly spurious pesticide supply worsening the situation, even sparking farmer sui-cides. At a time when the cotton market in general has been down for over a year, it has brought to light the need for an improved variety of genetically modified cotton. Farmers in Punjab and Haryana have launched an agitation, as half their cotton crop is estimated to have been lost, with in-tense spending on pesticides having aggravated the situa-tion.
BUY USD/INR OCT ABOVE 65.4 TARGET 65.53 65.68 SL BE-
LOW 65.2
SELL USD/INR OCT BELOW 65.24 TARGET 65.11 64.96 SL
ABOVE 65.44
EUR/IND
BUY EUR/INR OCT ABOVE 73.52 TARGET 73.67 73.87 SL BE-
LOW 73.32
SELL EUR/INR OCT BELOW 73.83 TARGET 73.68 73.48 SL
ABOVE 74.03
CURRENCY MARKET UPDATES:
The Indian rupee fell by 11 paise to end at 65.06 against the US dollar today on fresh demand for the American cur-rency from banks and importers amidst a decline in equity markets. The local currency opened lower at 65.14 as against yesterday’s closing level of 64.95 at the Interbank Forex market on initial dollar demand. It hovered in a range of 65.18 and 65.03 during the day before settling lower by 11 paise, or 0.17 per cent, at 65.06. The domestic currency had gained 46 paise or 0.70 per cent yesterday.
Not much movement was seen in the USD/INR pair. The rupee traded range- bound as investors preferred to be cautious in an uncertain market. In forward market today, premium for dollar ended lower on good receiving's from exporters.
The rupee dropped further against the pound sterling to finish at 99.59 from 99.41 yesterday and fell against the euro to 73.37 from 73.13 in the previous session. It also fell against the Japanese currency to settle at 54.28 per 100 yen from 54.08 in the earlier session.
The dollar index was traded down by 0.37 per cent against a basket of six currencies. The US dollar bounced back against a basket of currencies on Thursday, reversing off a three week low seen earlier in the day, after data showed that the number of people who filed for unemployment assistance in the U.S. fell more than expected last week. The Department of Labor said the number of individuals filing for initial jobless benefits in the week ending October 3 fell by 13,000 to 263,000 from the previous week's downwardly revised total of 276,000.
In New York, the dollar strengthened against the yen yes-terday after the Bank of Japan left its program of asset pur-chases unchanged at the close of its two-day policy meet. However, the dollar was moderately lower against the yen in directionless Asian trade today, with a weaker Nikkei Stock Average prompting buying of the Japanese currency. Japanese core machinery orders fell at a faster pace than expected for the third straight sequential decline amid con-cerns over an economic slowdown in China.
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TIME REPORT PERIOD ACTUAL CONSENSUS
FORECAST PREVIOUS
MONDAY, OCT. 05
10 AM ISM NONMANUFACTURING INDEX SEPT. 57.5% 59.0%
TUESDAY, OCT. 06
8:30 AM TRADE DEFICIT AUG. -$48.1 BLN -$41.9 BLN
WEDNESDAY, OCT. 07
3 PM CONSUMER CREDIT AUG. -- $19 BLN
THURSDAY, OCT. 08
8:30 AM WEEKLY JOBLESS CLAIMS OCT. 3 271,000 277,000
