Oil Cools, Rupee On Fire, Market Admires

Oil Cools, Rupee On Fire, Market Admires

Our Analysis

Bulls took charge this week in D-Street as Sensex crossed 36K & Nifty 10,900 mark, heavyweights like HDFC, HDBK, INFY, TCS, Kotak Bank & M&M helped the market to trade higher. Oil prices slipped lower after the United States reported a 10th straight weekly gain in commercial crude reserves amid record output. , The Indian rupee strengthened against the U.S. dollar. The home currency trading below 70 Mark. The volatility in the domestic market will continue and the equity risk premium will expand a little bit. "Crude is cooling off. Bond yields at 7.6% is another major positive. But given the evolving political scenario next one, the one-and-a-half week is something which will be very crucial.

This Week's Market Highlights:

Benchmark Indices:

1. The benchmark indices started the week on a strong note as Sensex surged 1.07 percent & Nifty above 10,600. as rupee recovered
2. Among sectors, financials, automobiles, consumption, and IT names were in the green, while investors sold metals and pharmaceuticals segments. Nifty Midcap index underperformed benchmarks but closed with gains of around 0.2 percent.
3. On Tuesday Indian equity benchmarks rebounded from day's low. Sensex Index jumped 175 points from day's low and the NSE Nifty 50 Index hovered around 10,650.
4. On Wednesday Indian equity benchmarks ended higher for the third day, NSE Nifty 50 Index ended at 10,728.85.
5. On Thursday Indian equity benchmarks rallied for the fourth day to end near a two-month high, The Sensex closed up 453.46 points or 1.27% at 36170.41, and the Nifty up 129.80 points or 1.21% at 10858.70.
6. Ten out of eleven sectoral gauges compiled by NSE advanced led by the NSE Nifty Financial Services Index's 1.93 percent gain. On the flipside, the NSE Nifty IT Index was the top sectoral loser, down 0.78 percent.
7. On Friday, It was a good start to the December series Sensex opened higher by over 130 points.

Broader Index & Global Market:

- This week broader market Nifty midcap & smallcap index traded lower as compared to benchmark indices. On sectoral space, IT, FMCG, media, energy & Nitybank index outperformed the market while Metal, pharma index was trading in the red.

- This week US market traded higher, followed by the Asian market, before the G20 Summit. The Wall street were closely hearing the commentary of Fed Chairman Jerome Powell rate hike concern, Uk Tension mounting over the point of No Deal Brexit; Britain out of its four-decade membership of the EU.

Movers & Shakers

Vip Industries on the back of strong result rallied more than 15%, Company has posted 30%(YoY) growth in its consolidated revenue at Rs 4.02 billion, aided by healthy 35% YoY domestic volume growth. The consolidated net profit grew 35% at Rs 492 million on YoY basis. Ebitda margins expanded 87 basis points (bps) to 12.7% on strong sales growth. The company's recent initiatives to capture the shift in consumer preference from the unorganized to organized segment and increasing focus on institutional sales will augur well for its brands in the long term.

Shares of YES Bank slumped over 14 percent in a weak as Moody's Investors Service downgraded its foreign currency borrowings (FCBs) by two notches to non-investment grade yesterday on the back of a series of resignations from the Board. The resignations, when seen in conjunction with RBI's September directive to restrict the term of the bank's MD & CEO Rana Kapoor till January 31, 2019, have raised concerns over corporate governance, the rating agency said. The agency also changed the outlook to negative from stable. Moody's has downgraded foreign currency issuer rating to 'Ba1' from 'Baa3', and also the bank's baseline credit assessment (BCA) and adjusted BCA to 'ba2' from 'ba1'.

Key Market Drivers

U.S. Gross Domestic Product (GDP) QoQ reported 3.5% lower than the expectation of 3.6%. The S&P BSE Sensex will include HCL Technologies and Bajaj Finance from Dec. 24 in the index latest rejig. The two companies will replace Wipro and Adani Ports and Special Economic Zone

Bonds are expected to maintain gains as 100 billion rupees of debt purchase by RBI via OMO on Thursday as part of its November plan. The central bank will also buy up to Rs 40,000 crore of bonds through its open-market operations next month and which Scotiabank described as being supportive of a local asset.
In his speech Wednesday to the Economic Club of New York, Powell said the Feds benchmark interest rate was just below the broad range of estimates of the level that would be neutral for the economy that is, neither speeding up nor slowing down growth. Powell's remarks on the economy and monetary policy were seen as keeping the Fed on track to raise interest rates in December.

Event Watch

Presidents Donald Trump and Xi Jinping plan to meet at the G-20 summit in Argentina that kicks off on Friday 30/11/2018

Results of State election will be declared on December 11.

India Fiscal Deficit for April-Oct

India GDP for September quarter.

Stocks To Watch

Escort Ltd. is on the upside while Meghmani Ltd. is on the downside.

Share Market News 29-November-2018


Strong end to November series, Nifty above 10,850; Sensex clocks 36K

Indian equity benchmarks extended gains for the third day. The Sensex was up by 269.12 points or 0.75% at 35986.07, while the Nifty was higher by 67.10 points or 0.63% at 10796.00. The rupee had opened at 70.09 per US dollar, a three-month high for the currency. The market was tilted in favor of buyers. Ten out of 11 sectoral gauges compiled by NSE advanced, led by the NSE Nifty Metal Indexs 1.15 percent gain. On the flipside, NSE Nifty IT Index was the only sectoral loser, down 0.21 percent.

In the afternoon session, Indian equity benchmarks extended gains for the fourth day and traded at day's high. Sensex Index rose as much as 0.97 percent to 36,062.99 and the NSE Nifty 50 Index rose as much as 1 percent to 10,820.15. Metal, Media, FMCG index were traded higher while IT, Power index remained lower. Broader market Nifty MIdcap 100 was trading Higher up by 43.40 pts. The rupee was trading below 70 per US dollar.

In the last hour of trade, Benchmark indices continue to trade strong Sensex up by 450.2 points, and the Nifty up 129.50 points or 1.20% at 10858.50. Indian equity benchmarks rallied for the fourth day to end near a two-month high, Ten out of eleven sectoral gauges compiled by NSE advanced led by the NSE Nifty Financial Services Index's 1.93 percent gain. On the flipside, the NSE Nifty IT Index was the top sectoral loser, down 0.78 percent. The Sensex closed up 453.46 points or 1.27% at 36170.41, and the Nifty up 129.80 points or 1.21% at 10858.70.

Top Gainers

BAJFINANCE by 4.25% to Rs. 2,515.00, KOTAKBANK by 4.20% to Rs 1,209.00,BAJAJ-AUTO by 4.16% to Rs.2712.10, HINDALCO by 4.07% to Rs.224.85, M&M by 3.63% to Rs. 775.60.

Top Losers

HCLTECH by -2.50% to Rs. 1,017.00, POWERGRID by -2.22% to Rs 180.20, ONGC by -1.26% to Rs.141.00, TECHM by -1.25% to Rs. 688.80, NTPC by -0.94% to Rs. 142.10 .

Analysis Of Top Gainer And Loser

BAJFINANCE is the top gainer in today's market as HSBC initiated coverage on Bajaj Finance with a buy rating, Company witnessed high buying interest in today's trade up by 4.25%.

HCLTECH is the top loser in today's market as the Company has seen the profit booking at higher levels, After a 3 days continuous positive streak.

Key Market News

U.S. Gross Domestic Product (GDP) QoQ reported 3.5% lower than the expectation of 3.6%.Tension mounting in the UK over the concern of 'No Deal Brexit'; Britain out of its four-decade membership of the EU.U.S. Crude Oil Inventories posted a rise of 3.577M, Fore casted 0.769, It implies weaker demand and is bearish for crude prices.In his speech Wednesday to the Economic Club of New York, Powell said the Feds benchmark interest rate was just below the broad range of estimates of the level that would be neutral for the economy that is, neither speeding up nor slowing down growth. Powells remarks on the economy and monetary policy were seen as keeping the Fed on track to raise interest rates in December.

Bonds are expected to maintain gains as 100 billion rupees of debt purchase by RBI via OMO on Thursday as part of its November plan. The central bank will also buy up to Rs 40,000 crore of bonds through its open-market operations next month and which Scotiabank described as being supportive of local assets. The yield on the 10-year government paper fell nine basis points to 7.64 percent on Wednesday, its lowest since May 9 as hopes of slower inflation due to oil prices and expectations that the central bank will pause in its rate tightening cycle bolstered buying.

Stocks To Watch

TITAN is on the upside while ONGC is on the downside.

TITAN is currently quoting at Rs.929.00, up by Rs.6.05 or 0.66% from its previous closing of Rs.922.95 on the NSE. The scrip opened at Rs.929.05 & has touched a high & low of Rs.933.90 and Rs.913.00 respectively. So far 19,91,914(NSE) shares were traded on the counter. The current market cap of the company is Rs 82,555.24 Crore. The NSE/BSE group stock has touched a 52 week high of Rs. 999.70 on 18-APR-18 & a 52 week low of Rs.732.30 on 09-Oct-2018.

ONGC is currently quoting at Rs.141.00, down by Rs.-1.80 or -1.26% from its previous closing of Rs.142.80 on the NSE. The scrip opened at Rs.143.90 & has touched a high & low of Rs.143.90 and Rs.137.65 respectively. So far 2,89,91,042 (NSE) shares were traded on the counter. The current market cap of the company is Rs.1,80,627.79Crore. The BSE/NSE group stock has touched a 52 week high of Rs.212.85 on 25-JAN-2018 & a 52 week low of Rs 137.65 on 29-NOV-2018.

Share Market News 27-November-2018


Sensex advances for 2nd day, add 159 pts; Nifty50 shy of 10,700; VIX eases 11%

It is a flat start for the market on Tuesday morning, with the Nifty holding 10,600. Sensex is up 6.72 points or 0.02% at 35360.80, while the Nifty is lower by 8.90 points or 0.08% at 10619.70. The market breadth is positive as 282 shares advanced, against a decline of 135 shares, while 38 shares were unchanged. Among sectors, IT and pharma were trading in the green, while metals have continued to be weak. The Nifty Midcap index was trading flat.

In the afternoon session, Indian equity benchmarks traded volatile after fluctuating between gains and losses in the early trade. Sensex Index traded at 35,367 and the NSE Nifty 50 Index traded at 10,624.10. Energy, reality, IT index traded higher while Metal, pharma, Media index remained lower. Broader market Nifty MIdcap 100 was trading above 17,400 Mark.

In the last hour, Indian equity benchmarks rebounded from day's low. Sensex Index jumped 175 points from day's low and the NSE Nifty 50 Index hovered around 10,650. Indian equity benchmarks ended higher for the second day, A rally among PSU banks, energy names as well as IT boosted the market. On the flipside, the NSE Nifty Pharma Index was the top sectoral loser, down 1.33 percent. In the broader market, the Nifty Midcap index ended over half a percent higher.

Top Gainers

INFY by 3.15% to Rs.641.00, BAJAJFINSV by 3.00% to Rs 5910.00,GAIL by 2.71% to Rs.349.00, TCS by 2.65% to Rs.1,895.00, BPCL by 2.43% to Rs. 335.30.

Top Losers

HEROMOTOCO by -3.84% to Rs.2,958.00, SUNPHARMA by -3.81% to Rs.491.30, YESBANK by -3.03% to Rs.182.20, BHARTIARTL by -2.39% to Rs. 326.55, WIPRO by -1.93% to Rs. 312.30 .

Analysis Of Top Gainer And Loser

INFY is the top gainer in today's market, Credit rating companies have given a positive commentary, The buying was seen in today's trade, Company surge more than 3%

HEROMOTOCO was the top loser in today's market, Company has seen some profit booking from higher levels, As the stock fell more than 3%.

Key Market News

Presidents Donald Trump and Xi Jinping plan to meet at the G-20 summit in Argentina that kicks off on Friday. Japan's Manufacturing Purchasing Managers' Index (PMI) reported 51.8, Forecasted 53.0. A lower than expected reading should be taken as negative/bearish for the JPY. Japan Corporate Services Price Index (CSPI) declared 1.3%,forecasted 1.2% MoM. A higher than expected reading can be taken as positive/bullish for the JPY. Singapore Industrial Production MoM posted 2.0% forecasted 1.6 %. A higher than expected reading can be taken as positive/bullish for the SGD.

Natural rubber production rose 8 percent to 67,000 tonnes during last month, while imports increased 63 percent to over 62,000 tonnes, according to Rubber Board's provisional data. Production stood at 62,000 tonnes in October 2017. Natural rubber consumption also rose to 1.02 lakh tonnes last month from 89,000 tonnes in the same month last year. Spot maize prices have risen 7.6% over the past fortnight, driving end-users including poultry and livestock feed manufacturers to panic stocking. Feed manufacturers are heading towards Chindwada in Madhya Pradesh, the only place in the country where maize availability is currently comfortable.

Stocks To Watch

Escort is on the upside while Vedanta is on the downside.

Escort is currently quoting at Rs.691.00, up by Rs.19.30 or 2.87% from its previous closing of Rs.671.70 on the NSE. The scrip opened at Rs.670.00 & has touched a high & low of Rs.693.00 and Rs.664.00 respectively. So far 23,40,093(NSE) shares were traded on the counter. The current market cap of the company is Rs 8,438.19 Crore. The NSE/BSE group stock has touched a 52 week high of Rs. 1,017.70 on 02-May-18 & a 52 week low of Rs.541.00 on 8-Oct-2018.

Vedanta is currently quoting at Rs.194.75, down by Rs.-1.05 or -0.54% from its previous closing of Rs.195.80 on the NSE. The scrip opened at Rs.193.85 & has touched a high & low of Rs.199.70 and Rs.190.20respectively. So far 2,10,61,915 (NSE) shares were traded on the counter. The current market cap of the company is Rs.72,54.09 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.355.70 on 29-Jan-2018 & a 52 week low of Rs 190.20 on 27-Nov-2018.

Share Market News 26-November-2018


Sensex Closes 373 Points Higher, Nifty Above 10,600; FMCG, Banks Leads Rally

Indian equity benchmarks opened higher, halting their three-day sell off. The S&P BSE Sensex Index rose as much as 0.58 percent to 35,184 and the NSE Nifty 50 Index rose as much as 0.55 percent to 10,584.95 .Ten out of 11 sectoral gauges compiled by NSE advanced, led by the NSE Nifty Media index's 0.86 percent gain. On the flip side, the NSE nifty IT Index was the only sectorial loser, down 0.4 percent.

In the afternoon session, Indian equity benchmarks witnessed a volatile trade after a strong open as Sensex traded at 34,932 and the NSE Nifty 50 traded at 10,502. Selling pressure continued in IT sector followed by Pharma, metals & PSU bank. Nifty Midcap 100 was trading down 77.5 points at 17,269.

In the last hour of trade bulls took control on D-street as Sensex surged 300 points & Nifty above 10,600 Mark. The market closed on a strong note,thanks to a sharp rally among consumption names in the last couple of hours Among sectors, financials, automobiles, consumption, and IT names were in the green, while investors sold metals and pharmaceuticals segments. In the broader markets, Nifty Midcap index under performed benchmarks, but closed with gains of around 0.2 percent.The S&P BSE Sensex Index closed 1.07 percent higher at 35,334.08 while the NSE Nifty 50 Index ended at 10,628.60, up 0.97 percent.

Top Gainers

HERMOTOCO by 6.11% to Rs.3,096.10, WIPRO by 4.04% to Rs 319.50,HUL by 3.87% to Rs.1,740.00, AXISBANK by 2.90% to Rs.632.35, ASIANPAINT by 2.67% to Rs. 1,349.55.

Top Losers

ONGC by -3.45% to Rs.147.00, SUNPHARMA by -2.83% to Rs.511.05, YESBANK by -1.97% to Rs.191.70, VEDL by -1.93% to Rs.195.75, COALINDIA by -1.79% to Rs. 252.05 .

Analysis Of Top Gainer And Loser

HERMOTOCO is the top gainer in today's market after it informed Hero Cycles has entered into a strategic alliance with Japans Yamaha Motor Co Ltd and Mitsui & Co for technology, manufacturing and marketing of electric bicycles.The first product for India to roll out from this alliance would be a high-end electric-mountain bike (E-MTB) under the Hero brand, the company said in a statement.The partnership has been formed with a forward looking plan which includes development of new e-mobility products jointly by Hero and Yamaha, with go-to-market sales, distribution and marketing support by Mitsui & Co.Ltd,

ONGC was the top losser in today's market Ongc has been ordered to pay about Rs 242 crore to the Mumbai Port Trust (MbPT) as wharfage compensation for the transportation of crude oil through the two pipelines the company had laid within the limits of the state-run port.

Key Market News

The trade ministry said in the order dated November 22 that the government will give a subsidy of 5 per cent for non-basmati rice export for the period of four month to March 15,2019.Indias rice exports during April-September dropped 9.6 % from a year earlier to 5.8MT,as leading buyer bangladesh reduced purchases due to bumper local harvest.

The review by the Board for Financial Supervision of the RBI, improving performance of the banks and recovery due to Insolvency and Bankruptcy Code give hope that three-four banks could move out of PCA by the end of March 2019,Banks have made recovery of Rs 36,551 crore during the first quarter, registering a 49 percent growth over the last fiscal.At the same time, operating profit has risen by 11.5 percent, while losses fell 73.5 percent on quarter on quarter basis, they said, adding asset quality has been addressed through falling NPA slippage.

The S&P BSE Sensex will include HCL Technologies and Bajaj Finance from Dec. 24 in the indexs latest rejig. The two companies will replace Wipro and Adani Ports and Special Economic Zone. The Congress on Sunday, 25 November, expelled its 28 leaders in Rajasthan, including nine former MLAs and an ex-Union minister, for filing nominations against the party's official candidates.The action was initiated on the direction of state Congress chief Sachin Pilot.

Stocks To Watch

Reliance industries. is on the upside while Sunpharma is on the downside.

Reliance industries is currently quoting at Rs.1,109.75, up by Rs.6.91 or 0.63% from its previous closing of Rs.1,102.85 on the NSE. The scrip opened at Rs.1,109.00 & has touched a high & low of Rs.1,117.50 and Rs.1,097.40 respectively. So far 63,86,556(NSE) shares were traded on the counter. The current market cap of the company is Rs 7,03,322.58 Crore. The NSE/BSE group stock has touched a 52 week high of Rs. 1,329.00 on 29-Aug-18 & a 52 week low of Rs.862.65 on 18-dec-2017.

Sun Pharma is currently quoting at Rs.511.05, down by Rs.-14.90 or -2.83% from its previous closing of Rs.525.95 on the NSE. The scrip opened at Rs.527.00 & has touched a high & low of Rs.528.15 and Rs.506.40 respectively. So far 51,89,244 (NSE) shares were traded on the counter. The current market cap of the company is Rs.1,22,518.49 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.679.30 on 06-SEP-2018 & a 52 week low of Rs 435.00 on 22-May-2018.

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