Markets Up With RBI Rate Cut Hopes, Expect It To Be Higher Ahead Too
Jan 25, 2017 | 19:16 PM IST
Jan 25, 2017 | 19:16 PM IST
Our Analysis
This week the Indian share market witnessed a roller-coaster ride. Strong buying was seen with each dip which kept the market above the psychological mark of 11500. The bulls took the charge on D-street from the Feb 19th and registered a gain of over 9 percent, The secret superstar has been the Bank-Nifty, with 13.5 percent gains and recorded the fresh all-time high.
In the March series, nifty rose by 778 points or 7.2 percent after breaking the 20 weeks of consolidation, If we talk about the Financial year 2018-19 Nifty has almost provided the return of 13 percent. Once again FII were the net buyer which helped the benchmark indices and bank nifty to reach newer highs, FII invested dominantly in the leading private bank stocks. However, the auto sector was reeling under selling pressure with production cut announced by major auto companies. The Reality sector was the most trending sector in March series which has registered 11 percent + gains.
In the coming days, the mega event to look out would be the RBI monetary policy committee meet among others. RBI is likely to go for a follow-up repo cut by 25 bps. The recent action in Bank Nifty is also indicating this. Apart from this, investors should also keep an eye on the important set of data demonstrating the economic condition of India, like fiscal deficit data and infrastructure output data. Other than that, the country's fourth-quarter data for external debt and current account as well as auto sales figure and Nikkei manufacturing PMI for the month of March will grab the attention.
This Weeks Market Highlights:
Benchmark Indices:
1)Indian share market indices ended lower as they remained under pressure throughout on Monday with Nifty finished around 11,350 marks.
2), Nifty was down 102.60 points at 11,354.30. All sectoral gauge closed in red led by auto, bank, metal, FMCG, infra, IT and pharma.
3)On Tuesday, Indian share market indices rebounded sharply to day's highs in afternoon trade, led by gains in banking and energy stocks. The Sensex rallied 424.50 and the Nifty50 climbed 1.14 percent to 11,483.30.
4)Among Sector compiled by NSE ended higher, led by the Nifty PSU bank Indexs 3.13 percent gain. While, the Nifty IT Index was the only sectoral loser, down 0.39 percent.
5) On Wednesday, Indian share market indices closed the volatile day in negative territory, Erased all its morning gains in the later part of the day. The Sensex declined by 100.53 points at 38,132.88, while Nifty drop by 38.30 points at 11,445.
6) On Thursday, Bulls took control on Dalal Street and pushed the Nifty above 11,550 on the March expiry day. The Sensex was up 412.84 points at 38,545.72, while Nifty is up 136.50 points at 11,581.50.
7) On Friday, Indian share market started strong for the April F&O series with Nifty above 11,600 level.
Broader Index & Global Market:
- Globally, In the US market, the concern was raised about the imminent slowdown in the global economy as us bond yield curve inverted for the first time after 2017. In the Asian region, Profits of China Industrial firms posted the biggest fall in the post-global financial crisis era in the first two months of the year.
- In the broader market, The Mid-cap and Small-cap was standing tall with the benchmark indices, The value-based buying was seen in all counter of the market.
Movers & Shakers
Shares of the REC surged more than 7 percent in a week after Power Finance Corporation stated that it had acquired a 52.63 percent stake of the share capital of REC, worth Rs 14,500 crore from the government and became the holding company and the promoter of REC.
Key Market Drivers
- The government had exceeded its disinvestment target for the current fiscal by Rs 5,000 crore, taking the total proceeds to Rs 85,000 crore.
- 5.5% of dip In Gold import during April-Feb stood to $29.5 bn.
- Sebi modifies commissions, disclosure norms for MF industry.
- US 10-year bond yield hits 2017 low.
- Though the Australian Bureau of Meteorology along with other global weather forecasting agencies have predicted a 60-70 percent chance of El Nino this year, state-run India Meteorological Department (IMD) said its study of global models shows that there is little chance of a strong El Nino in 2019.
- Former run Governor Raghuram Rajan on weekday expressed doubts over Indian economy growing at 7%. once, not enough jobs were being created and same the current cloud over the gross domestic product numbers should be cleared by appointing an impartial body to seem at the information.
- In an address to the nation, PM Modi said India has destroyed a live satellite in earth's lower orbit under Mission Shakti. India is the fourth country after the US, Russia, and China to achieve so, PM said.
- Bank credit remained stable at ~14.5% at 95.53 trillion for the fortnight ended March 15. Deposits growth inched up in double-digit at 10.03% at 122.26 trillion
- U.S. Crude Oil Inventories reported 2.800M, forecasted -1.100M.
Event Watch
- US GDP Annualized QoQ
- Japan CPI YoY
- UK GDP YoY
- Nikkei Japan PMI Mfg
- Caixin China PMI Mfg
International:
-
Domestic:
- Nikkei India PMI Mfg.
- RBI monetary policy committee meet
- Nikkei India PMI Services
- India Fiscal Deficit
Stocks To Watch
Aurobindo Pharma, BEML On Upside while Tech Mahindra & Bharti Infratel on Downside.
Share Market News 28-March-2019
Nifty Clocks Best F&O Expiry In Four Months Banks Outperform
Indian share market started positively with Nifty above the 11,450 level. the Sensex was up 36.12 points or 0.09% at 38169, and the Nifty up 10.50 points or 0.09% at 11455.50. Among sector compiled by NSE advanced, led by the Nifty Realty Indexs 0.9 percent gain. While, the Nifty Pharma Index was the top sectoral loser, down 0.14 percent. The Indian rupee opened lower by 24 paise at 69.11 per dollar on Thursday versus previous close 68.87.
In the afternoon session, the Indian share market index was trading higher, Nifty was hovering around 11500 Mark. , The Sensex was Up by 151.37 points or 0.40% at 38,284.25 and the Nifty was up by 49.65 points or 0.43% at 11,494.70. Among sector Media, reality & IT were trading in the green, While, Metal & Energy was trading in the red. In a Broder Market, NSE mid-cap was Up by 0.43% and smallcap indices were trading Higher by 0.60%, respectively.
Indian Share market Update in the last hour of trade, Nifty was trading at 11500 Mark. Bulls took control on Dalal Street and pushed the Nifty above 11,550 on the March expiry day. The Sensex was up 412.84 points at 38,545.72, while Nifty is up 136.50 points at 11,581.50. Among Sector compiled by NSE ended higher, led by the Nifty PSU Bank Indexs 3.6 percent advance. While, the Nifty Metal Index was the only sectoral loser, down 0.28 percent. In the broader Market Update, the NSE MidCap Index was up by 1.03 percent and the NSE SmallCap Index was higher by 0.94 percent. Nifty closed with a gain of 778 points and it was the highest expiry-to-expiry gains since January 2015 series. Benchmark indices outperformed the broader indices in the expiry day supported by banks and IT. Bank nifty propelled to a new high in expectation of a rate cut from RBI next week and recapitalization of banks. Besides, the slid in Indias 10-year bond yield further raised the possibility of a rate cut. Global economic growth concerns and the Feds dovish view on rates will give a positive impetus to emerging markets like India.
Top Gainers
IBULHSGFIN by 9.01% to Rs 818.00. ,ZEEL by 4.83% to Rs 443.50,ADANIPORTS by 4.01% to Rs 381.00,HCLTECH by 4.01% to Rs 1,085.00,UPL by 3.56% to Rs 934.00.
Top Losers
HINDALCO By -2.19% to Rs 203.10, ONGC by -2.09% to Rs 156.75, TATASTEEL by -2.09% to Rs 505.00,DRREDDY by -1.52% to Rs 2,723.00.,POWERGRID by -1.35% to Rs.197.50.
Analysis Of Top Gainer And Loser
IBULHSGFIN is the top gainer in today's market session As The Reserve Bank of India is widely expected to cut rates next week to boost growth.
HINDALCO is the top loser in today's market, after the continuous bull run in Market, In todays trade, the company witnessed profit booking from a higher level. The stock was down by 2.19%
Key Market News
- Bank credit remained stable at ~14.5% at 95.53 trillion for the fortnight ended March 15. Deposits growth inched up in double-digit at 10.03% at 122.26 trillion.
- The finance ministry has given its nod to line up a precious metals board to bring clarity on how the new comprehensive gold policy is going to be enforced.
- Foreign portfolio investors (FPIs) bought Rs 1,481 crore worth of domestic stocks on Wednesday, DIIs were net sellers to the tune of Rs 135 crore.
- U.S. Crude Oil Inventories reported 2.800M, forecasted -1.100M.
Stocks To Watch
ITC is on the upside while EXIDE is on the downside.
ITC is currently quoting at Rs.301.00 up by Rs 7.90 or 2.70% from its previous closing of Rs.293.10 on the NSE. The scrip opened at Rs.294.10 & has touched a high & low of Rs.302.00 and Rs. 293.00. respectively. So far 1,77,52,3806(NSE) shares were traded on the counter. The current market cap of the company is Rs 3,67,758.95Cr. The NSE/BSE group stock has touched a 52 week high of Rs.322.95 on 03-SEP-2018 & a 52 week low of Rs.254.35 on 28-MAR-2018.
EXIDE is currently quoting at Rs.221.00 down by Rs.-5.35 or -2.36% from its previous closing of Rs.226.35 on the NSE. The scrip opened at Rs.226.00 & has touched a high & low of Rs.228.60 and Rs.220.00 respectively. So far 38,97,132(NSE) shares were traded on the counter. The current market cap of the company is Rs 18,802.00Cr. The BSE/NSE group stock has touched a 52 week high of Rs 304.70 on 24-AUG-2018 & a 52 week low of Rs 194.30 on 20-FEB-2019.
Share Market News 27-March-2019
Despite Bank Nifty At A Record High, Nifty ends below 11,450
Indian share market started strong with Nifty above the 11,500 level, led by gains in banking stocks. The Sensex was up 171.44 points at 38404.85, while Nifty was up 40.50 points at 11523.80. All the sectoral gauges compiled by NSE advanced, led by the NSE Nifty Media Indexs 0.76 percent. Nifty Bank has reported a record high with index trading above 30000 level. The Indian rupee opened lower against the U.S. dollar. The home currency depreciated as much as 0.23 percent to 69.01 against the greenback.
In the afternoon session, the Indian share market index was trading above 11500 Mark. , The Sensex was Up by 121.57 points or 0.32% at 38,354.98 and the Nifty was up by 31.50 points or 0.27% at 11,514.75. Among sector Media, Banks & Fmcg were trading in the green, While, reality & Energy was trading in the red. In a Broder Market, NSE mid-cap was Up by 0.27% and smallcap indices were trading Higher by 0.67%, respectively.
Indian Share market Update in the last hour of trade, D-street witnessed a sharp decline, Nifty was trading at 11435 Mark. Indian share market indices closed the volatile day in negative territory, Erased all its morning gains in the later part of the day. The Sensex was down 100.53 points at 38,132.88, while Nifty was down 38.30 points at 11,445. Among Sector compiled by NSE fell, led by the NSE Nifty Pharma Indexs 1.04 percent fall. While, the NSE Nifty PSU Bank Index was the top sectoral gainer, up 1.59 percent. In the broader Market Update, the NSE MidCap Index was up by 0.52 percent and the NSE SmallCap Index was higher by 1.24 percent. Nifty is trying hard to stay above the 11,500 level. Majority of the indices showed weakness except for Nifty Media and Nifty Bank. Nifty Bank scaled a new peak led by heavy gains in YES Bank, IndusInd Bank, IDFCFirst Bank, and RBL Bank.
Top Gainers
YESBANK by 5.87% to Rs 268.60. ,INDUSINDBK by 5.68% to Rs 1,812.00,IBULHSGFIN by 2.78% to Rs 750.00,JSWSTEEL by 1.71% to Rs 286.15,SBIN by 1.48% to Rs 308.00.
Top Losers
HINDPETRO By -2.82% to Rs 269.25, NTPC by -2.70% to Rs 137.00, TATAMOTORS by -1.94% to Rs 169.75,BHARTIARTL by -1.89% to Rs 321.60.,EICHERMOT by -1.67% to Rs.21,024.00.
Analysis Of Top Gainer And Loser
YESBANK is the top gainer in today's market session As Leading solution providers of unified communications, Karix Mobile, has announced their association with Yes Bank to power the Banks recent app-less banking roll-out. This platform permits affirmative Bank to deliver a set of services to its customers over the mobile browser mistreatment progressive web-app technology.
HINDPETRO is the top loser in today's market, As oil marketing companies have exceeded their capital expenditure targets for the current fiscal, having spent heavily on refinery upgrades, pipelines, and marketing infrastructure, The company has witnessed selling pressure in todays trade.
Key Market News
- Though the Australian Bureau of Meteorology along with other global weather forecasting agencies have predicted a 60-70 percent chance of El Nino this year, state-run India Meteorological Department (IMD) said its study of global models shows that there is little chance of a strong El Nino in 2019.
- Punjab is targeting a $30 billion investment for its industrial enterprise programme next year, building on its success of having already topped $5.6 billion to date, a state official has said.
- Former run Governor Raghuram Rajan on weekday expressed doubts over Indian economy growing at 7%once, not enough jobs were being created and aforesaid the present cloud over the GDP numbers should be cleared by appointing an impartial body to seem at the information.
- In an address to the nation, PM Modi said India has destroyed a live satellite in earth's lower orbit under Mission Shakti. India is the fourth country after the US, Russia, and China to achieve so, PM said.
- Foreign portfolio investors (FPIs) bought Rs 999.02 crore worth of domestic stocks on Tuesday, DIIs were net sellers to the tune of Rs 197 crore.
Stocks To Watch
MGL is on the upside while LUPIN is on the downside.
MGL is currently quoting at Rs.1034.05 up by Rs 34.30 or 3.43% from its previous closing of Rs.999.75 on the NSE. The scrip opened at Rs.1003.00 & has touched a high & low of Rs.1045.00 and Rs. 990.00. respectively. So far 10,05,466(NSE) shares were traded on the counter. The current market cap of the company is Rs 10,075,83Cr. The NSE/BSE group stock has touched a 52 week high of Rs.1045.00 on 27-MAR-2019 & a 52 week low of Rs.756.00 on 11-OCT-2018.
LUPIN is currently quoting at Rs.723.95 down by Rs.-10.85 or -1.48% from its previous closing of Rs.734.80 on the NSE. The scrip opened at Rs.735.50 & has touched a high & low of Rs.740.85 and Rs.722.30 respectively. So far 18,81,343(NSE) shares were traded on the counter. The current market cap of the company is Rs 32,794.48Cr. The BSE/NSE group stock has touched a 52 week high of Rs 986.10 on 10-SEP-2018 & a 52 week low of Rs 722.30 on 27-MAR-2018.
Share Market News 26-March-2019
Last Hour Rally in Banks, RIL lift Nifty above 11,400, midcaps outperform
Indian share market opened higher after declined for two consecutive trading sessions The benchmark indices were led by the gains in Reliance Industries Ltd. and ICICI Bank Ltd. The Sensex rose 51.28 points to 37,860.19 and the Nifty50 gained 31.90 points at 11,386.20. Among sector compiled by NSE advanced, led by the Nifty Realty Indexs 0.94 percent gain. While, the Nifty IT Index was the only sectoral loser, down 0.97 percent. The Indian rupee opened higher against the U.S. dollar. The home currency appreciated as much as 0.1 percent to 68.90 against the greenback.
In the afternoon session, the Indian share market index was trading higher. Reliance was standing strong with the gain of 1.80%, The Sensex was Up by 94.20 points or 0.25% at 37,903.11 and the Nifty was up by 27.15 points or 0.24% at 11,381.40. Among sector Energy, reality & PSU Bank were trading in green, While, IT, Auto were trading in the red. In a Broder Market, NSE mid-cap was Up by 0.57% and smallcap indices were trading Higher by 0.76%, respectively.
Indian Share market Update in the last hour of trade, Nifty was trading at days high above 11400 Mark. Indian share market indices rebounded sharply to day's highs in afternoon trade, led by gains in banking and energy stocks. The Sensex rallied 424.50 points or 1.12 percent to 38,233.41 and the Nifty50 climbed 129 points or 1.14 percent to 11,483.30. Among Sector compiled by NSE ended higher, led by the Nifty PSU bank Indexs 3.13 percent gain. While, the Nifty IT Index was the only sectoral loser, down 0.39 percent. The broader Market Update, the NSE MidCap Index was up by 1.14 percent and the NSE SmallCap Index was higher by 1.16 percent. There seems to be enough appetite to put money to work in good Indian companies with robust fundamentals. With fourth-quarter earnings season just around the corner, Dalal Street participants will watch earnings trajectory closely for the rally to sustain or gather steam. As an important benchmark indices move toward life high, broader markets still offer a lot of opportunities to accumulate good quality businesses at reasonable valuations.
Top Gainers
NTPC by 3.99% to Rs 140.75. ,SBIN by 3.67% to Rs 304.80,VEDL by 3.57% to Rs 174.25,RELIANCE by 3.36% to Rs 1,369.00,BAJFINANCE by 3.17% to Rs 2,940.00.
Top Losers
TECHM By -2.53% to Rs 769.65, IOC by -1.46% to Rs 161.95, UPL by -1.07% to Rs 902.95,INFY by -1.01% to Rs 727.80.,WIPRO by -0.60% to Rs.254.95.
Analysis Of Top Gainer And Loser
NTPC is the top gainer in today's market session As Four new plants of state-owned NTPC worth $5 billion to begin generation in six days.
TECHM is the top loser in today's market, Rs 1,956-crore share buyback will open for subscription on Monday. The IT major intends to buy back up to 2.06 crore shares at Rs 950 a share. The offer will close on April 5
Key Market News
- The U.S.-China trade war poses the biggest risk to global stability and fiscal stabilization is needed to respond to economic shocks in Europe, IMF First Deputy Managing Director David Lipton said on Monday.
- Food inflation likely to go up to 2% in FY20: Report.
- Sebi modifies commissions, disclosure norms for MF industry.
- Foreign portfolio investors (FPIs) bought Rs 150.40 crore worth of domestic stocks on Monday, DIIs were net sellers to the tune of Rs 12.52 crore.
- US 10-year bond yield hits 2017 low.
Stocks To Watch
ICICIBANK is on the upside while WIPRO is on the downside.
ICICIBANK is currently quoting at Rs.394.70up by Rs 11.20 or 2.92% from its previous closing of Rs.383.50 on the NSE. The scrip opened at Rs.384.95 & has touched a high & low of Rs.395.50 and Rs. 383.40. respectively. So far 1,40,63,632(NSE) shares were traded on the counter. The current market cap of the company is Rs 2,53,973.61Cr. The NSE/BSE group stock has touched a 52 week high of Rs.400.95 on 19-MAR-2019 & a 52 week low of Rs.256.50 on 16-JUL-2018.
WIPRO is currently quoting at Rs.254.95 down by Rs.-1.55 or -0.60% from its previous closing of Rs.256.60 on the NSE. The scrip opened at Rs.257.10 & has touched a high & low of Rs.258.60 and Rs.253.40 respectively. So far 38,50,516(NSE) shares were traded on the counter. The current market cap of the company is Rs 1,53,833.69Cr. The BSE/NSE group stock has touched a 52 week high of Rs 291.72 on 26-FEB-2019 & a 52 week low of Rs 190.13 on 06-JUN-2018.
Share Market News 25-March-2019
Sensex tanks 300 pts, Nifty drops below 11,400 amid global selloff; banks lead to decline.
Indian share market started Negative, with Nifty below 11,400 level, tracking a selloff in other global markets as fears lingered over a global economic slowdown. the Sensex was down 323.35 points at 37841.26, while Nifty was down 92 points at 11,364.90. All sectoral gauges compiled by NSE declined, led by PSU bank, pharma, metal, auto, FMCG and energy. Sentiment has been dented from Friday itself after the Fitch Ratings cut India's GDP growth forecast for the next financial year to 6.8 percent from its previous estimate of 7 percent, citing weaker than expected momentum in the economy.
In the afternoon session, the Indian share market index, Nifty was trading at days low. The Sensex was down by 405.14 points or 1.06% at 37,759.47 and the Nifty was down by 117.85 points or 1.03% at 11,339.05. All sectors were trading in red led by PSU bank, Metal, Fmcg & reality. In a Broder Market, NSE mid-cap was down by 0.70% and smallcap indices were trading lower by 1.53%, respectively.
Nifty Update in the last hour of trade, Nifty was trading at 11320.55. Indian share market indices ended lower as they remained under pressure throughout on Monday with Nifty finished around 11,350 marks. the Sensex was down 355.70 points at 37,808.91, while Nifty was down 102.60 points at 11,354.30. All sectoral indices ended in red led by auto, PSU bank, metal, FMCG, infra, IT and pharma. The broader Market Update, the NSE MidCap Index was down by 0.69 percent and the NSE SmallCap Index was lower by 1.54 percent. The Indian rupee erased early losses and trading at day's high at 68.84 per dollar versus Friday's close 68.95. The market reacted to the news of heightened risk of a global slowdown. We feel the pressure would subside on the local front, at least in the short run, due to scheduled derivatives expiry and upcoming general elections.
Top Gainers
IOC by 4.52% to Rs 164.15. ,ONGC by 4.36% to Rs 159.00, HINDPETRO by 2.48% to Rs 275.00,COALINDIA by 2.26% to Rs 237.20,POWERGRID by 1.59% to Rs 201.65.
Top Losers
ZEEL By -4.28% to Rs 416.25, INFRATEL by -3.53% to Rs 304.95, VEDL by -3.28% to Rs 168.20,JSWSTEEL by -3.08% to Rs 276.95.,TATAMOTORS by -2.51% to Rs.171.00.
Analysis Of Top Gainer And Loser
IOC is the top gainer in today's market session after Consortium of Indian oil refiners acquired 100 percent stake in Abu Dhabi Onshore Block 1.
ZEEL is the top loser in today's market, Japanese electronics and entertainment giant Sony Corp. is in advanced talks to shop for a stake in Subhash Chandra-controlled Zee Entertainment Enterprises Ltd (ZEEL) and form a strategic partnership.
Key Market News
- The government had exceeded its disinvestment target for the current fiscal by Rs 5,000 crore, taking the total proceeds to Rs 85,000 crore.
- Foreign portfolio investors (FPIs) bought Rs 1,374.57 crore worth of domestic stocks on Friday, DIIs were net sellers to the tune of Rs 675.37 crore.
- Sebi has sought-after powers to conduct an examination of books of accounts of listed firms for dispute of any securities law and additionally to require objection action against the fraudsters. Besides, Sebi has planned an important penalty for fixing, destroying, mutilating, concealing or falsifying records and documents or other tangible objects with an intent to obstruct, impede or influence a legal investigation.
- Govt exceeds disinvestment target this fiscal, payoff bits Rs 85,000 Cr.
- The value of merger and acquisition deals in February slumped 34 percent to USD 1.24 billion, YoY.
- Gold imports dip 5.5% during April-Feb to $29.5 bn.
Stocks To Watch
BHEL is on the upside while LUPIN is on the downside.
BHEL is currently quoting at Rs.69.20 up by Rs 1.65 or 2.44% from its previous closing of Rs.67.55 on the NSE. The scrip opened at Rs.67.10 & has touched a high & low of Rs.70.10 and Rs. 66.55. respectively. So far 2,61,23,052(NSE) shares were traded on the counter. The current market cap of the company is Rs 24,095.88Cr. The NSE/BSE group stock has touched a 52 week high of Rs.91.15 on 12-APR-2018 & a 52 week low of Rs.56.20 on 05-FEB-2019.
LUPIN is currently quoting at Rs. 731.00 down by Rs.-12.20 or -1.64% from its previous closing of Rs.743.20 on the NSE. The scrip opened at Rs.743.80 & has touched a high & low of Rs.745.95 and Rs.727.00 respectively. So far 25,22,436(NSE) shares were traded on the counter. The current market cap of the company is Rs 32,990.55Cr. The BSE/NSE group stock has touched a 52 week high of Rs 986.10 on 10-SEP-2018 & a 52 week low of Rs 723.65 on 15-MAY-2018.
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