Saturday, 19 May 2018

The Indian rupee has seen massive depreciation against the US dollar since February when a heavy sell-off was witnessed in the domestic equities following the global trend while the home currency has breached the peak levels of 66, 67 and 68 per US dollar in the last one-and-half-month only.

Earlier on Tuesday this week, the rupee crossed the level of 68 apiece US dollar, falling by 56 paise in a single day possibly on the back of FPI’s selling pressure, the continuous surge in crude oil prices coupled with the cliffhanger outcome of Karnataka Elections 2018. During the day when Karnataka Assembly elections results have been announced, the rupee’s movement was mostly in sync with the trends of results. 

Surprisingly, just a day after rupee crossed 68 per US dollar mark, it made a sharp recovery of as much as 27 paise after touching a fresh 16-month high of 68.15 on Wednesday. Earlier on Tuesday this week, the rupee dropped 56 paise to close at 68.07 against US dollar versus a close of 67.51 on Monday.

SBI Q4FY18 Result Expectation:

  • NII – Rs 18,756cr, up ~19% yoy, due to higher loan growth, projected domestic credit pickup could lend support to NII growth.
  • PPOP – Rs12,610cr, decline of ~3.5% yoy, due to expected higher operating expenses and lower other income.
  • PAT – Rs1,051cr, decline of ~72% yoy, profit growth is likely to decline yoy due to higher NPA provisions and lower treasury income.

Friday, 18 May 2018

Sensex, Nifty Bank dip 150 pts; Bajaj Finance, Britannia, HUL hit 52-week highs on NSE 

The Sensex and Nifty Bank indices fell more than 100 points while the Nifty Midcap index underperformed frontliners, falling over half a percent.
FMCG stocks continued to support the market as ITC and HUL gained over a percent each while all other sectoral indices are in the red.
More than 110 stocks hit 52-week low with cuts in names such as ACC, Bank of Baroda, Oriental Bank of Commerce etc.
Bajaj Finance, Britannia Industries, Colgate PalmoliveNSE 2.71 % (India), Firstsource Solutions, Hindustan Unilever and Mphasis hit 52-week highs on NSE in Friday's trade, defying negative market sentiment. 
On the other hand, ACC, Bank of BarodaNSE -2.38 %, Bharti AirtelNSE -1.58 %, CEAT and Central Bank of India hit 52-week lows on NSE in Friday's trade. 
Trade deficit in Apr’18 remained elevated at $13.7 billion, but the overall trade activity remained tepid. Growth in exports and imports remained low at 5.2 percent YoY and 4.6 percent YoY, respectively. Capital Goods and commodity-oriented sectors gained momentum while consumption-oriented sectors continued to languish. Consumption-oriented imports reflected similar trend as that in Consumer Durables production, pointing to overall weakness in consumption.
The Nifty PSU Bank index was trading 0.70 per cent down at 2,688 around 10:20 am on Friday with all components in the red. Bank of Baroda (down 1.92 per cent), Syndicate Bank (down 1 per cent) and Union Bank of India (down 1 per cent) were the top losers in the PSU bank index.

Private bank stocks were trading mixed during the early trade on Friday. However, losses in ICICI Bank (down 1.72 per cent), IDFC Bank (down 0.83 per cent), HDFC Bank (down 0.81 per cent) and Axis Bank (down 0.53 per cent) were keeping the sectoral index down.

Thursday, 17 May 2018

Sensex falls 100 pts, Power stocks trade mixed; Reliance Power surges 7% 

The market consolidates, trading mildly higher as all sectoral indices are in the green barring metals.
The Nifty50 is hovering around 10,750 levels while the Nifty Midcap index is up fourth of a percent.
The market breadth remains strong as about two shares gained for every share falling on the BSE.
he market erased opening gains to trade mildly lower, dragged by HDFC, Reliance Industries, Infosys and metals stocks. The Nifty50 is trading below 10,750 levels.
Hindalco, Cipla, Tata Steel, BPCL are top losers among Nifty50, down up to 4 percent while Titan Company and Bharti Infratel gained more than a percent.
Shares of Reliance PowerNSE 8.71 % (up 6.75 per cent), Reliance Infrastructure (up 3.54 per cent), Adani Transmission (up 2.97 per cent) and Torrent Power (up 2.88 per cent) were the top gainers among the power stocks. 
Benchmark BSE Sensex was 109 points down at 35,278, while the NSE Nifty50 index was down 29 points at 10,712. 
In the Sensex index, 11 stocks were trading up, while 20 stocks were down. 
Tata Motors, with a gain of over 2 per cent, was leading the pack of Sensex gainers. 
Tata Steel saw profit booking after opening higher as it reported a consolidated net profit of Rs 14,688 crore for the March quarter, as against a loss of Rs 1,168 crore in the same quarter last year, benefiting from a one-time gain of Rs 11,376.14 crore from the restructuring of its UK business' pension scheme.
The Indian rupee extended opening gains, trading 18 paise higher at 67.61 against the US dollar.
The 30-share BSE Sensex is off its opening high, rising 51.85 points to 35,439.73 while the 50-share NSE Nifty gained 18.70 points at 10,759.80.
The market breadth was positive as about two shares gained for every share falling on the BSE.

Tuesday, 15 May 2018

Nifty likely to open lower; ITC, JSW Steel, Tata Steel to be in focus

Indian Indices:                           

The market is likely to open sharply lower on Wednesday, tracking global weakness. The Nifty50 closed down 4.70 points at 10,801.90 on Tuesday. The SGX Nifty futures also indicated weak opening for the market as it was trading down 67.50 points at 10,758 on the Singaporean Stock Exchange. US stocks dropped sharply on Tuesday after Home Depot reported quarterly sales that fell short of Wall Street's expectations and interest rates breached new highs,

Global Market:

Asian markets- Asian markets are lower today as Japanese and Hong Kong shares fall. The Nikkei 225 is off 0.38% while the Hang Seng is down 0.54%. The Shanghai Composite is not trading.

US Markets: The Dow Jones industrial average fell 193 points to close at 24,706.41 while the S&P 500 declined 0.7 percent to 2,711.45 and the Nasdaq composite dropped 0.8 percent to 7,351.63.

European markets- European markets finished mixed as of the most recent closing prices. The CAC 40 gained 0.23% and the FTSE 100 rose 0.16%. The DAX lost 0.06%.

Major Headlines of the day:

Tata Steel’s resolution plan for Bhushan Steel approved
NTPC to take over power projects in Bihar.
Britannia Industries Q4 profit rises 25%.
PNB posts record Rs13,417 crore loss.
Allahabad Bank divests CEO of all powers.

Trend in FII flows:-  The FIIs were Net Value of Rs -518.47 the cash segment TUESDAY while the DIIs were Net Value of Rs 531.33 as per the provisional figures.


Securities in Ban For Trade Date 16-MAY-2018 :-


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Monday, 14 May 2018

CS OPENING BELL: 15 may 2018

NIFTY SPOT UP 58 @ 10865
SENSEX UP 236  @ 35796


RES2: 11070
RES 1:10950


RES 2: 27005
RES 1: 26950
SUP1: 26304
SUP2: 25935

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Gold buoyed by waning yields, but prices are backing under $1,320 as bulls pause -  

Gold kicked off the new week lifting into 1,322.00 as the US Dollar backs away from recent highs and US Treasury yields relax, but gold fiends couldn't get the wheels turning and the precious metal is sinking back to last week's close and back under 1,320. Gold caught a bit of a relief rally recently after getting hammered by a scorching run up the charts by the Greenback which propped up on broad market expectations of a fourth rate hike from the US Fed this year, coupled with US Treasury yields marching higher as well, with the 10 year Treasury yield crossing the key 3% mark recently. Bonds have waivered recently and a slight slip in wages and income growth within the US economy has tempered market expectations of too many more rate hikes from the Fed this year, and Gold has been able to recover some of its lost footing as a result.

 Secondary aluminium alloy export prices to go up on tightened supply - 

China’s secondary aluminium exports prices are likely to rise further in the short term as the month-long operation suspension of China Certification and Inspection Group (CCIC) at North America in May would significantly slash aluminium scrap imports from the US and shrink secondary aluminium exports as a result, SMM believes. The authority began to impose broad-based inspections on all scrap materials imported from the US from May 4 and put CCIC’s operations at North America under A-level risk alert for one month. This in effect means China would not be able to import scrap from the US due to a lack of CCIC certificate for one month.

Nickel price to be pressured by lower nickel sulphate prices - 

SMM takes a bearish outlook on nickel prices in May and June as optimism from nickel sulphate for the battery industry weakened. Whether pressure will emerge from the nickel pig iron (NPI) side in the stainless steel industry remains to be seen. The price gap between China's battery-grade nickel sulphate in nickel content and nickel cathode will continue to narrow in May. The gap was once narrowed to 15,000 yuan/mt in early May as nickel sulphate prices declined due to fewer purchases from ternary precursor plants. The lower profits of ternary precursor plants than that of nickel sulphate producers also accounted for the drop in nickel sulphate prices.

Oil Prices Recede On Opposition Against Iran Sanctions, Surge In U.S. Drilling -

 Oil prices on Monday morning in Asia receded from last week’s multi-year highs as resistance emerged in Europe and Asia to U.S. sanctions against major crude exporter Iran, while a relentless climb in U.S. drilling activity pointed to further increases in output.Germany has said it will protect its companies from U.S. sanctions, and Iran has said French oil giant Total has yet to pull out of its fields. Meanwhile, China seems ready to fill the void created by the U.S. Still, oil prices remained near more than three-year-highs reached last week as traders expect Iran’s oil exports to fall significantly once U.S. sanctions bite later this year. Around a million barrels of oil a day is likely to disappear, threatening to tip the oil market into undersupply. The sanctions come amid an oil market that has already been tightening due to rising demand in Asia and efforts led by top exporter Saudi Arabia and top producer Russia to withhold oil supplies and prop up prices.

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Thursday, 10 May 2018


NIFTY SPOT UP 21 @ 10737
SENSEX DOWN 2  @ 35245


RES2: 10875
RES 1:10810


RES 2: 26420
RES 1: 26320
SUP1: 26000
SUP2: 25900

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