DAILY REPORT 08 th JUNE 2016 YOUR MINTVISORY Call us at +91-731-6642300 Global markets at a glance Asian shares held near six-week highs on Wednesday, on a brightening outlook in the energy sector and hopes that the US Federal Reserve will not raise interest rates in the coming months after a disappointingly weak US jobs re- port. MSCI's broadest index of Asia-Pacific shares outside Japan was flat after hitting a near six-week high the previ- ous day. Japan's Nikkei was also flat. On Wall Street, the US S&P 500 Index rose 0.1 percent to 2,112, less than 20 points away from its record closing high marked in May last year. The gains were led by 2.1 percent gains in energy shares as oil prices jumped more than 1 percent to hit 2016 highs on expectations of domestic stockpile draws and worries about supply shortfalls from attacks on Nigeria's oil industry. The 10-year US Treasuries yield fell back to 1.713 percent, testing strong support at around 1.70%. In Europe, German bond yields hit a record low of 0.045 percent on Tuesday as investors sought a safe haven ahead of Britain's referendum on EU membership. European shares touched a one-week high on Tuesday af- ter Federal Reserve Chair Janet Yellen pushed back expec- tations for a rate increase without raising concerns over the strength of the world's largest economy. Yellen's re- marks late on Monday followed Friday's dismal monthly jobs report, which increased jitters over the ability of the U.S. economy to absorb a rate hike as early as June Previous day Roundup Indian shares closed higher on Tuesday after the country's central bank kept key rates unchanged, but said it would remain "accommodative" as it keeps a watch on inflation levels. The broader Nifty closed 0.8 percent higher at 8,266.45, after touching its highest since Oct. 26. The benchmark Sensex ended up 0.87 percent at 27,009.67, breaching the 27,000 mark for the first time since Oct. 29. Both indexes had ended lower on Monday. Index stats The Market was very volatile in last session. The sartorial indices performed as follow; Consumer Durables [up 177.10pts], Capital Goods [up 178.15pts], PSU [up 69.08pts], FMCG [up 110.82Pts], Realty [up 24.18pts], Power [up 11.47pts], Auto [up 91.56pts], Healthcare [up 67.27pts], IT [down 4.32pts], Metals [up 104.68Pts], TECK [dwon 2.86pts], Oil& Gas [down 12.98pts]. World Indices Index Value % Change DJI 17913.00 -0.11 S&P500 2107.75 -0.12 NASDAQ 6250.00 -0.29 FTSE100 6284.53 -0.18 NIKKEI 16621.98 -0.32 HANG SENG 21227.11 -0.47 Top Gainers Company CMP Change % Chg SBIN 210.15 11.15 5.66 ICICIBANK 254.50 11.00 4.52 ULTRACEMCO 3,336.50 109.20 3.38 HINDALCO 109.65 2.80 2.62 AMBUJACEM 234.75 5.85 2.56 Top Losers Company CMP Change % Chg BPCL 975.30 18.995 -1.91 INDUSINDBK 1,108.10 13.65 -1.22 TATAPOWER 73.35 0.85 -1.15 AUROPHARMA 771.90 7.25 -0.93 INFY 1,256.00 10.75 -0.85 Stocks at 52 Week’s HIGH Symbol Prev. Close Change %Chg ASIANPAINT 1,031.60 5.30 0.52 BIOCON 724.00 -2.30 -0.32 GRUH 283.50 -1.55 -0.54 HEIDELBERG 112.00 5.15 4.82 KOTAKBANK 769.15 3.90 0.51 KPIT 186.80 10.00 5.66 RUSHIL 417.85 -4.95 -1.17 Indian Indices Company CMP Change % Chg NIFTY 8266.45 +65.40 +0.80 SENSEX 27009.67 +232.22 +0.87 Stocks at 52 Week’s LOW Symbol Prev. Close Change %Chg PUNJLLOYD 17.80 -0.25 -1.39 TREEHOUSE 48.60 -1.85 -3.67 VIMALOIL 40.40 -0.70 -1.70
Transcript
DAILY REPORT 08
th JUNE 2016
YOUR MINTVISORY Call us at +91-731-6642300
Global markets at a glance
Asian shares held near six-week highs on Wednesday, on a
brightening outlook in the energy sector and hopes that
the US Federal Reserve will not raise interest rates in the
coming months after a disappointingly weak US jobs re-
port. MSCI's broadest index of Asia-Pacific shares outside
Japan was flat after hitting a near six-week high the previ-
ous day. Japan's Nikkei was also flat.
On Wall Street, the US S&P 500 Index rose 0.1 percent to
2,112, less than 20 points away from its record closing high
marked in May last year. The gains were led by 2.1 percent
gains in energy shares as oil prices jumped more than 1
percent to hit 2016 highs on expectations of domestic
stockpile draws and worries about supply shortfalls from
attacks on Nigeria's oil industry. The 10-year US Treasuries
yield fell back to 1.713 percent, testing strong support at
around 1.70%. In Europe, German bond yields hit a record
low of 0.045 percent on Tuesday as investors sought a safe
haven ahead of Britain's referendum on EU membership.
European shares touched a one-week high on Tuesday af-
ter Federal Reserve Chair Janet Yellen pushed back expec-
tations for a rate increase without raising concerns over
the strength of the world's largest economy. Yellen's re-
marks late on Monday followed Friday's dismal monthly
jobs report, which increased jitters over the ability of the
U.S. economy to absorb a rate hike as early as June
Previous day Roundup
Indian shares closed higher on Tuesday after the country's
central bank kept key rates unchanged, but said it would
remain "accommodative" as it keeps a watch on inflation
levels. The broader Nifty closed 0.8 percent higher at
8,266.45, after touching its highest since Oct. 26. The
benchmark Sensex ended up 0.87 percent at 27,009.67,
breaching the 27,000 mark for the first time since Oct. 29.
Both indexes had ended lower on Monday.
Index stats
The Market was very volatile in last session. The sartorial
indices performed as follow; Consumer Durables [up
On the daily chart of SUNPHARMA, it get reversal from the support level of 711 in yesterday's session rose with good volume thus it seems a good buy opportunity for the day above yesterdays high . So we advise to buy it above 742 for the targets of 752 756 with stop loss below 732. MACRO NEWS HDFC Bank slashes two-year MCLR rate to 9.20% effec-
tive June 7 IRDAI proposes norms for selling insurance through e-
commerce Mallya case: DRT advises bks to coordinate recovery of
Rs 2k cr FDI inflows jumped 42% since June 2014: Nirmala World Bank slashes global growth forecast to 2.4% MOIL, NMDC To Buy Back 25% Of Paid-up Capital From
Govt Telecom commission sticks to a 3% spectrum usage
charge (SUC) on future spectrum across all spectrum bands Current SUC is 4-6% on all bands except 2300 MHZ (BWA) on which we pay 1%
Apex consumer panel slaps penalty of 12% per annum on DLF to be given to 50 buyers
Wipro Buyback opens on Jun 17th, Closes on June 30th YES BANK: Shareholders Approve Raising Up To $1 Bn
Via Issue Of Shares, Securities ONGC Videsh plans to raise more than $1 billion to refi-
nance a bridge loan RCom – Aircel merger likely to be comleted by end of
June ICRA Upgrades Credit Ratings for Long Term Loans &
NCDs on Ramco Cements Debt Recovery Tribunal advises SBI to consider option of
adjusting Rs 2000 cr deposited by Mallya in High Court
Last trading session ICICIBANK future show good strength and close near day high with bullish candlestick in daily chart. since last session it rose with rising OI in long side and last day stock cross major resistance level. We may see sharp rise for that it will be good to buy around 244-245 for the target of 249-255 with SL of 240. 2. HINDALCO [FUTURE]
Last trading session HINDALCO future opened gape UP and show long build up at lower level at full day and made a high of 110.75 and close near day high with bullish candlestick in daily chart. We may see sharp rise for that it will be good to buy above 110.80 for the target of 112-114 with SL of 108.
STOCKS IN NEWS Bharat Forge arm Alstom Bharat Forge to supply Steam
Turbine Generators to NTPC’s Telangana Power Plant Bank of Baroda Hikes 1-Year MCLR From 9.30% To
9.40% w.e.f June 7 Pfizer gets waiver of clinical trials for its breast cancer
drug Piramal Enterprises board meeting on Jun 10 to Con-
sider`300 Cr worth fund raising via NCDs Strides Shasun completes Acquisition of Controlling
Stake in Universal Corp, Kenya NIFTY FUTURE
NIFTY in last trading session opened with flattish note before RBI credit policy but after RBI credit policy nifty move uside and made a high of 8318.90 and Nifty cross 8300 level first time in 2016 and closed with a bullish candlestick in daily chart. so we advise you to buy Nifty around 8250-8260 for the targets of 8315-8350 with strict stop loss of 8200.
COMMODITY ROUNDUP Oil prices stood steady near their highest level in about eight months, helped by industry data showing a larger-than-expected drawdown in US crude inventories and wor-ries about attacks on Nigeria's oil industry. London Brent crude for August delivery was down 2 cents at $51.42 a bar-rel by 0108 GMT, after settling up 89 cents on Tuesday. It earlier touched $51.55, the highest since October 12. NY-MEX crude for July delivery was up 4 cents at $50.40 a bar-rel, after closing up 67 cents on Tuesday to settle above $50 for the first time since last July. US commercial crude inven-tories fell by 3.6 million barrels last week, data from indus-try group American Petroleum Institute showed on Tuesday after the market settlement, compared with expectations for a 2.7 million barrel draw according to a revised Reuters poll. The US EIA will issue official inventory numbers at 1430 GMT on Wednesday. Gold tumbled today as heavy gains in last few sessions trig-gered profit selling amid supportive equities. Stocks surged in Europe on strong economic cues and COMEX Gold ex-tended a drop after hitting its two week high above $1250 per ounce levels yesterday. The metal currently trades at $1240.65 per ounce, down 0.54% on the day. MCX Gold fu-tures are trading at Rs 29235 per 10 grams, down 0.73% on the day. COMEX Gold jumped from lows near $1200 per ounce last week as a weak nonfarm report weakened the US dollar and commodities traded on a sound footing. COMEX Gold had surged nearly 3% after an extremely weak US nonfarm payrolls data that ensured that a summer rate hike talks are no longer a major play for the markets. The US added just 38000 new jobs in May and hiring in the prior two months was also weaker than originally reported. Copper futures slid lower on Tuesday, with both MCX and COMEX copper futures slipping from four-week highs, even as the US dollar continued to show weakness in the after-math of last Friday's jobs report. The health of the labor market one of the key economic conditions that the Fed will base its rate hike decisions on, the bad jobs report thwarted expectations for a June rate hike. This pressured the US cur-rency, and sparked a big rally in dollar-denominated. The main union at South32 Ltd.'s Cerro Matoso, the world's sec-ond-biggest ferro-nickel mine, said it will press ahead with plans to strike starting June 14. Supply disruptions are ex-pected t0 benefit Nickel and Copper. Meanwhile, Indian Copper is showing sharp selloff. The prices of Copper de-pleted to Rs 306.75 per kg, down 2.2%. The prices tested a high of Rs 313.65 per kg and a low of Rs 306.30 per kg.
SELL CORIANDER JULY BELOW 6930 TARGET 6885 6785 SL
ABOVE 6995
BUY GUARGUM JULY ABOVE 5410 TARGET 5460 5530 SL
BELOW 5350
Rising for the second straight day, cardamom pricesspurted by 3.79% to Rs 836 per kg in futures trade as participants engaged in expanding their positions, taking positive cues from spot market on strong domestic as well as export de-mand. At MCX cardamom for delivery in June surged by Rs 30.50 or 3.79% to Rs 836 per kg in a business turnover of 509 lots. On similar lines, the spice for delivery in far-month July contracts traded higher by Rs 24.30 or 3.00% to Rs 835.60 per kg in 781 lots. Traders enlarged positions on the back of surging domestic and exports demand in the spot market against restricted supplies from producing regions mainly kept cardamom prices higher at futures trade. Most sugar companies’ share prices hit a new 52-week high on Monday, after a sharp rise in the sweetener’s price in global markets. Falling production in India this crushing sea-son has narrowed the estimate of carryover stocks for the next season and analysts expect a rally in sugar prices. The share of Dharani Sugars jumped by 20 per cent on Monday, to close at Rs 56.30. Uttam Sugar and DCM Shriram rose 10.6 per cent and 7.2 per cent to Rs 60.25 and 159.35, re-spectively. Other sugar stocks also jumped. The markets remain favourable, with an expected global deficit of a little over four million tonnes. And, output in India is expected to remain below 25.2 mt, an over 10 per cent decline from last year’s 28.3 mt. Bargain buying was seen in jeera market due to of strong export demand from China and Bangladesh. The sources stated that Bangladesh government has removed import duties from jeera which raises the exporter's inquiries in local mandi. Moreover, strong export orders from china due to limited stocks have also added gains in jeera physical market. The NCDEX June Jeera futures increased by 0.19 percent to close at Rs 15900 per quintal.
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TIME REPORT PERIOD ACTUAL CONSENSUS
FORECAST PREVIOUS
MONDAY, JUNE 06
NONE SCHEDULED
TUESDAY, JUNE 07
8:30 AM PRODUCTIVITY 1Q -0.7% -1.0%
8:30 AM UNIT LABOR COSTS 1Q 3.9% 4.1%
3 PM CONSUMER CREDIT APRIL -- $30 BLN
WEDNESDAY, JUNE 08
10 AM JOB OPENINGS APRIL -- 5.8 MLN
10 AM QUARTERLY REPORT ON SERVICES 1Q
THURSDAY, JUNE 09
8:30 AM WEEKLY JOBLESS CLAIMS JUNE 4 274,000 267,000
