Our Analysis
Better than expected WPI inflation data, Corporate earnings especially IT giant TCS & higher metal commodity prices helped Indian market to rally for 9th successive days before banking stocks break the rally. Stocks of metal & aluminium rallied due to positive global cues & expected to rally further before earnings while IT stocks will be in focus as IT giant TCS gave a strong earnings kick. The market will remain volatile as investors will wait for more corporate earnings but sector like Metal & Steel, IT, Auto and Realty will continue to see strong buying. Also, banking stocks will be in focus as more banks will present Q4 earnings.
This Weeks Market Highlights:
Benchmark Indices:
1. The benchmark indices continued to rally for the 8th successive day.
2. Sensex rose over 100 points & Nifty closed above 10,500 levels.
3. HDFC group, FMCG, Pharma & realty led the rally.
4. On Tuesday, the market posted highest winning rally over 3 years, as Nifty inched towards 10,550 levels.
5. On Wednesday, Equity market snapped 9 days winning streak due to selling pressure in banks but Nifty able hold 10,500 levels.
6. On Thursday, equity indices closed higher as Sensex rose nearly 100 points while above 10,550 levels, backed by Metal, IT & FMCG stocks.
7. On Friday, the market traded mildly lower due to weakness in global stocks.
Sectoral Index:
- This week broader market continued to outperform frontliners & if earnings continue to be on the better side then more buying will be seen as good stocks are available at discounted price.
- Nifty IT, Metal & FMCG index rallied further this week, backed by global positive cues, while higher Brent crude oil prices hurt OMCs.
Movers & Shakers
Shares of metal giant Hindalco rose over 10% this week as aluminium prices surged to highest in almost 7 years on Thursday. LME aluminium climbed as far as $2,664.50 a tonne, highest since August 2011. Also, the US sanctions against Russian aluminium producer Rusal will provide more opportunities for the company. The current upswing in LME integrated aluminium price is likely to benefit integrated players like Hindalco.
Shares of Oil retailer & marketing company BPCL tumbled over 10% this week as Brent Crude Oil prices surged to ~$74/bbl as OPEC, Russia and other producers continue its production cut stance in 2018. Reuters reported on Wednesday that top oil exporter Saudi Arabia would be happy to see crude rise to USD 80 or even USD 100 a barrel, which was seen as a sign that Riyadh will seek no changes to an OPEC supply-cutting deal that was introduced in 2017 to boost prices.
Key Market Drivers
Indias annual wholesale price index (WPI)-based inflation slightly eased in March, helped by a fall in food prices, government data showed on Monday. Annual wholesale price inflation last month eased to 2.47% from a year earlier, a shade lower than a provisional 2.48% rise in February. Wholesale food prices in March fell 0.07% year-on-year, compared with a 0.07% rise a month earlier, data showed.
Indias monsoon rains, that water half of the countrys cultivated land, are expected to be normal for the third straight year. India will receive 97% of the long-period average rainfall this year, according to the Indian Meteorological Department. We feel that India is going to experience a third successive normal monsoon, KJ Ramesh, director general of meteorology at the IMD said in a media conference. There is a very less probability of deficit monsoon..
Event Watch
Indias Forex Reserves (USD) will be presented on April 27th, 2018. International reserves are used to settle the balance of payments deficit between countries.
Q4FY18- HDFC Bank, Wipro, Axis Bank, Yes Bank, Biocon, IDFC Bank, Bharat Financial, ICICI Prudential, M&M Financial, RBL bank, Tata Elxsi.
Global:- ECB Interest Decision will be on April 26th, 2018. US GDP (QoQ) will be presented on April 27th, 2018.
Stocks To Watch
TCS Ltd. is on the upside while Eveready Industries is on the downside.
Share Market News 19-April-2018
Market Back On Winning Streak, Nifty Above 10,550; Metals Shine
The Benchmark indices rebounded on Thursday as Sensex rose over 100 points & Nifty above 10,550, followed a positive lead from global stocks. The equity market continued to trade higher, amid volatility as Sensex was up 80 points while Nifty traded above 10,500 levels. Nifty Metal index extended gains, was up 4% & IT also rose over 1% while OMCs was down to 5%. Nifty midcap rose.4%.
In the afternoon session, equity benchmark continued to trade mildly higher as Sensex was up 80 points while Nifty hold above 10,550, despite higher crude oil prices. Nifty Metal, FMCG & IT index led the market while OMCs & selected banks & financial copped gains. Nifty midcap also traded higher.
In last hour of trade market traded higher as Sensex rose over 50 points while Nifty above 10,550 above. The market closed higher despite crude oil prices, backed by Metal, IT & FMCG stocks led by Metal Index, was up by 4.52%. Nifty midcap index was up by 133 points. Sensex closed 95.61 points up at 34,427.29, Nifty up by 39.10 points at 10,565.30.
Top Gainers
Hindalco by 8.81% to Rs.264.20, VEDL by 6.65% to Rs.310.45, Tata Steel by 3.29% to Rs.610.40, Yes Bank by 2.89% to Rs.318.50, Bharti Airtel by 2.64% to Rs.394.40.
Top Losers
BPCL by -7.11% to Rs.376.40, HindPetro by -5.62% to Rs.3021.65, IOC by -4.09% to Rs.158.20, Titan by -2.57% to Rs.952.00, HDFC by -0.89% to Rs.1,861.00.
Analysis Of Top Gainer And Loser
Hindalco is the top gainer in today's market as aluminium prices surged 5% to highest in almost 7 years on Thursday. LME aluminium climbed as far as $2,664.50 a tonne, highest since August 2011.
BPCL is the top loser in today's market as Brent crude oil futures hit USD 74 a barrel after a decline in US crude inventories and top exporter Saudi Arabia is expected to keep withholding supply to prop up the market.
Key Market News
India, which has recovered from disruptions caused by demonetisation and the rollout of the GST, must fully implement the new nationwide indirect tax to avoid tax revenue underperformance resulting in cuts to capital expenditures, the IMF said today. In its Fiscal Monitor report titled 'Capitalising on Good times', the IMF said that relatively buoyant revenues supported by base-broadening efforts and lower capital expenditures were offset by higher spending (including higher compensation to states for the rollout of the GST) and lower profit transfers from the Reserve Bank of India due to costs incurred during the demonetisation.
The International Monetary Fund (IMF) said that Indias combined gross debt, including that of the central and state governments, is set to decline by almost nine percentage points to 61.4% of gross domestic product (GDP) by 2023-24. What will support a gradual decline in the debt-to-GDP ratio is both a gradual reduction in overall deficit as well as continued high nominal GDP growth, said Andreas Bauer, IMF senior resident representative for India.
Stocks To Watch
Hindustan Copper Ltd. is on the upside while is BPCL on the downside.
HindCopper is currently trading at Rs.80, up by Rs.8.60 or 12.04% from its previous closing of Rs.71.40 on the NSE. The scrip opened at Rs.72.90 & has touched a high & low of Rs.82.05 and Rs.72.60 respectively. So far 2,73,96,298 (NSE) shares were traded on the counter. The current market cap of the company is Rs.7,369.36 Crore. The NSE/BSE group stock has touched a 52 week high of Rs.110.50 on 07-November-2017 & a 52 week low of Rs.56.55 on 27-September-2017.
BPCL is currently trading at Rs.376.40, down by Rs.28.80 or 7.11% from its previous closing of Rs.405.20 on the NSE. The scrip opened at Rs.396 & has touched a high and low of Rs.397.85 & Rs.375.35 respectively. So far 1,59,39,417 (NSE) shares were traded on the counter. The current market cap of the company is Rs.81,900.14 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.551.55 on 30-October-2017 and a 52 week low of Rs.375.35 on 19-April-2018.
Share Market News 18-April-2018
Market Snapped 9 Days Winning Streak; Bank Nifty Down
The Benchmark indices opened higher on Wednesday as Sensex rose 100 points & Nifty above 10,550, followed positive from global stocks. The equity market traded near days high as rose 80 points while Nifty inched towards 10,600 levels, amid positive global cues. Among sectoral index Nifty FMCG & Media rose over 1.5% while Auto, Bank traded under pressure. Nifty midcap traded mildly higher.
In the afternoon session, equity benchmark extended gains as Sensex was up 120 points while Nifty traded near 10,600 levels on hopes of strong earnings growth. Nifty FMCG, Media & Realty index led the rally while Auto, Bank & Financial sectors were under pressure. Nifty midcap also traded higher.
In last hour of trade market erased gains as Sensex was down by 80 points while Nifty traded below 10,550 levels. The market closed lower for the first time in last 10 days, dragged by banks. Nifty FMCG & Media index was up over 1.5% while Bank & financials, Pharma traded in red. Nifty midcap index closed mildly lower. Sensex closed 63.38 points down at 34,331.68, Nifty down by 22.50 points at 10,526.20.
Top Gainers
ITC by 3.33% to Rs.276.50, Wipro by 2.90% to Rs.290.00, Ultratech Cement by 2.29% to Rs.4,007, ZEEL by 2.22% to Rs.588.25, GAIL by 2.01% to Rs.332.20.
Top Losers
HindPetro by -3.03% to Rs.320.05, Axis Bank by -2.76% to Rs.517.70, Titan by -1.98% to Rs.977,80, Lupin by -1.75% to Rs.790.95, Tech Mahindra by -1.54% to Rs.658.00.
Analysis Of Top Gainer And Loser
ITC is the top gainer in today's market as normal monsoon prediction & rural demand growth is expected to be higher, will lead to good January-March 2018 numbers.
HindPetro is the top loser in today's market as oil & marketing companies are continued to tumble ahead of OPEC meeting later this week.
Key Market News
The International Monetary Fund (IMF) has maintained its forecast for Indias economic growth at 7.4% in 2018-19, which will again make the country the fastest-growing large economy after losing this tag to China by a close margin in 2017-18. For 2019-20, the IMF has projected India to grow at 7.8%. By comparison, the Chinese economy is expected to slow down to 6.4% in 2019, down from 6.6% in 2018. India is likely to have grown 6.7% in 2017-18, the IMF said. In fact, the IMF projection for 2017-18 is a tad higher than 6.6%, pegged by the second advance estimates by the Central Statistics Office. China grew 6.9% in 2017.
India increased highway award target after handing out contracts for record length in the previous fiscal year. The Ministry of Road Transport & Highways set a target of awarding over 20K kms. length of national highways in the year through March 2019, according to its statement. Thats 25% more than the previous fiscal year. The ministry is making all-out efforts for improving and strengthening the highways network in the country, Nitin Gadkari, the minister in charge, said in the statement.
Stocks To Watch
Taj GVK Hotels & Resorts Ltd. is on the upside while is D B Realty Ltd. on the downside.
Taj GVK is currently trading at Rs.235.00, up by Rs.24.25 or 11.51% from its previous closing of Rs.210.75 on the NSE. The scrip opened at Rs.215.00 & has touched a high & low of Rs.248.00 and Rs.213.05 respectively. So far 43,08,678 (NSE) shares were traded on the counter. The current market cap of the company is Rs.1,461.57 Crore. The NSE/BSE group stock has touched a 52 week high of Rs.248.00 on 18-April-2018 & a 52 week low of Rs.145.55 on 23-May-2017.
D B Realty is currently trading at Rs.60.40, down by Rs.4.90 or 7.50% from its previous closing of Rs.65.30 on the NSE. The scrip opened at Rs.65.50 & has touched a high and low of Rs.65.70 & Rs.59.50 respectively. So far 11,56,622 (NSE) shares were traded on the counter. The current market cap of the company is Rs.1,466.85 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.86.00 on 11-January-2018 and a 52 week low of Rs.32.15 on 11-August-2017.
Share Market News 17-April-2018
Sensex & Nifty Post Longest Winning Rally Over 3 Years
The Benchmark indices opened mildly higher on Tuesday with Sensex was up by 70 points & Nifty nearly 10,550, amid positive global cues. The equity market continued to trade with mild gains as Sensex was up 60 points while Nifty traded near 10,550 level amid consolidation. Nifty Metal, Realty & FMCG index traded higher while Auto & Pharma traded under pressure. The Nifty Midcap index continued to outperform frontliners, rose 0.4%.
In the afternoon session, equity benchmark continued to trade in a range as Sensex was up 40 points while Nifty traded below 10,550 levels, as investors await more corporate earnings. FMCG, Realty & Metal stocks traded higher while Technology, Auto & Pharma stocks traded lower while Nifty midcap traded flat.
In the last hour of trade, the market continued to trade higher as Sensex was up nearly 100 points while Nifty traded above 10,550 levels. The market managed to end near days high. Nifty FMCG & Realty index lead to rally while selected banks, Pharma, IT, traded lower. Nifty midcap index was up 26 points. Sensex closed 89.63 points up at 34,395.06, Nifty up by 20.35 points at 10,548.70.
Top Gainers
Power Grid by 2.86% to Rs.204.90, Hindustan Unilever by 2.18% to Rs.1,450.50, Titan by 2.18% to Rs.999.00, Bharti Airtel by 1.55% to Rs.382.20, ICICI Bank by 1.50% to Rs.291.90.
Top Losers
Infratel by -1.93% to Rs.333.50, Axis Bank by -1.83% to Rs.532.45, Wipro by -1.60% to Rs.285.25, Sun Pharma by -1.23% to Rs.513.00, Adani Ports by -1.03% to Rs.383.50.
Analysis Of Top Gainer And Loser
Power Grid is the top gainer in today's market as around 83% of the analysts have given a buy rating on the stock.
VEDL is the top loser in today's market as some selling pressure was seen in the stock.
Key Market News
Monsoon this year is expected to be normal for the third straight year. India will receive 97% of the long-period average rainfall this year, according to the Indian Meteorological Department. We feel that India is going to experience a third successive normal monsoon, KJ Ramesh, director general of meteorology at the IMD said in a media conference. There is a very less probability of deficit monsoon.. Between 96% & 104% of the long period average is considered a normal monsoon, and the margin of error is 5%. IMD said that it will come out with its next forecast in June and release an assessment of the onset of monsoon in Kerala on May 15.
India needs to create 8.1 million jobs a year to maintain its employment rate, said a World Bank report which projected the country's growth to accelerate to 7.3% in the current financial year. More than 1.8 million young people will reach working age every month in South Asia through 2025 and the good news is that economic growth is creating jobs in the region, said Martin Rama, World Bank South Asia Region Chief Economist.
Stocks To Watch
EIH Ltd. is on the upside while is Welspun India Ltd. on the downside.
EIH is currently trading at Rs.203.00, up by Rs.31.00 or 18.02% from its previous closing of Rs.172.00 on the NSE. The scrip opened at Rs.173.65 & has touched a high & low of Rs.206.40 and Rs.171.10 respectively. So far 36,64,475 (NSE) shares were traded on the counter. The current market cap of the company is Rs.11,505.69 Crore. The NSE/BSE group stock has touched a 52 week high of Rs.231.60 on 16-January-2018 & a 52 week low of Rs.122.80 on 17-April-2017.
Welspun India is currently trading at Rs.52.60, down by Rs.2.60 or 4.71% from its previous closing of Rs.55.20 on the NSE. The scrip opened at Rs.55.10 & has touched a high and low of Rs.55.15 & Rs.51.50 respectively. So far 25,84,821 (NSE) shares were traded on the counter. The current market cap of the company is Rs.5,274.81 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.99.70 on 03-May-2017 and a 52 week low of Rs.51.50 on 17-April-2018.
Share Market News 16-April-2018
Market Rose For 8th Day In A Row; Nifty Above 10,500 levels
The Benchmark indices opened lower with Sensex fell over 200 points & Nifty below 10,450 levels, followed the negative lead from global stocks. The equity market recouped more than half the losses but remained under pressure as Sensex was down over 80 points while Nifty traded above 10,450 levels. among sectoral indices Pharma, FMCG & Realty traded higher while IT, PSU Bank & Auto declined. Nifty midcap traded on a flat note.
In the afternoon session, equity benchmark recovered all the losses as Sensex was up over 50 points while Nifty reclaimed 10,500 levels, backed HDFC group stocks & ITC. Nifty Realty, Pharma, FMCG rose over 1% with Banks & financials also traded higher while IT & PSU bank declined. Nifty midcap was up over .50%.
In last hour of trade market remained positive as Sensex rose over 100 points & Nifty traded above 10,500 levels. The market closed in the green for 8th consecutive sessions. Nifty Realty, FMCG, Pharma rose over 1%, Financials & Pvt. bank also traded higher while IT & PSU bank declined. Nifty midcap was up .80%. Sensex closed 112.78 points up at 34,305.43, Nifty up by 47.75 points at 10,528.35.
Top Gainers
Cipla by 5.32% to Rs.585.05, Grasim by 2.90% to Rs.1,094.45, Hero Motocorp by 2.18% to Rs.3,807.00, UPL by 2.08% to Rs.762.65, NTPC by 2.05% to Rs.174.45.
Top Losers
Tata Motors by -4.78% to Rs.340.00, Infosys by -3.15% to Rs.1,134.50, Wipro by -1.65% to Rs.289.30, SBIN by -0.78% to Rs.249.00, Titan by -0.72% to Rs.980.00.
Analysis Of Top Gainer And Loser
HCL Tech is the top gainer in today's market as Rupee continued to shed to hit a fresh 5-month low due to a surge in crude oil prices & geopolitical tension. Also, Q4 earnings are expected to be on the better side.
VEDL is the top loser in today's market as companys iron ore production in Goa fell 58% to 1.5 million tonne in January-March due to lower demand for low-grade ore & closure of mining operations in the state.
Key Market News
Indias annual wholesale price index (WPI) based inflation slightly eased in March, helped by a fall in food prices, government data showed on Monday. Annual wholesale price inflation last month eased to 2.47% from a year earlier, a shade lower than a provisional 2.48% rise in February. Wholesale food prices in March fell 0.07% year-on-year, compared with a 0.07% rise a month earlier, data showed.
The Reserve Bank of India (RBI) may relax some of the stringent norms for treatment of bad loans that it announced in February without diluting their spirit, said two officials aware of the development. The finance ministry has made a case for providing some relief, especially for small and medium enterprises, given that the tighter rules could force defaulters into rapid bankruptcy, which could dent jobs generation, they said. The one-day, non-performing asset (NPA) classification norm may be extended to 30 days and the requirement that a resolution plan has to be approved by all lenders could be lowered to 75%, they said. This will mean that only if any amount is due for more than 30 days will it be considered a default.
Stocks To Watch
Indiabulls Venture Ltd. is on the upside while is Bhansali Engineering Polymers Ltd. on the downside.
IBV is currently trading at Rs.380.80, up by Rs.63.45 or 19.99% from its previous closing of Rs.317.35 on the NSE. The scrip opened at Rs.313.50 & has touched a high & low of Rs.380.80 and Rs.310.00 respectively. So far 2,53,36,342 (NSE) shares were traded on the counter. The current market cap of the company is Rs.16,828.55 Crore. The NSE/BSE group stock has touched a 52 week high of Rs.380.80 on 16-April-2018 & a 52 week low of Rs.83.00 on 13-April-2017.
BEPL is currently trading at Rs.193.05, down by Rs.13.65 or 6.60% from its previous closing of Rs.206.70 on the NSE. The scrip opened at Rs.195.00 & has touched a high and low of Rs.203.90 & Rs.188.20 respectively. So far 34,34,396 (NSE) shares were traded on the counter. The current market cap of the company is Rs.3,214.42 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.224.50 on 10-April-2018 and a 52 week low of Rs.35.35 on 05-May-2017.
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