Weekly Wrap - Nifty & Stock Market Updates

 Nifty gains 1.2%; Feb IIP at 9-month low; Infy Q4 nos eyed
The euphoria of pre-election rally helped the Nifty gain 1.2 percent during the truncated week. The index crossed another milestone of 6800 level, but it could not sustain that level due to profit taking in last trading session.

          Banks, capital goods and metals stocks pushed the index 81.95 points higher to close at 6776.30 for the week while the Sensex surged 269.46 points to 22628.96. Both have seen historic highs at 6819.05 and 22792.49, respectively.
According to experts, the market still has more steam left to go past 7000 level on the Nifty and 23000 on the Sensex. It has already priced in 225 seats that are likely to get by BJP-led NDA government but it has not factored in 250+ yet, experts believe.
Stocks in Action-

 Among the sectoral indices, BSE Bank, Power, Capital Goods, Metals and Realty indices gained 2-3 percent. Pharma and Auto climbed over a percent but IT fell half a percent.

     Drug maker Sun Pharmaceutical Industries was the biggest gainer among Nifty 50, surging 10 percent after the company on Monday said it would buy Ranbaxy for total equity value of USD 3.2 billion.
Week Ahead-

 Infosys, DCB Bank, IndusInd Bank, Mindtree, TCS, HCL Technologies, Wipro, Reliance Industries and Persistent Systems will announce their January-March quarter earnings.

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Stock Market Live

Indian equity markets witnessed a gap up on Monday. However profit booking at higher levels took the leading indices down by about 1% in the afternoon session. By the end of the day we saw some recovery in market and nifty managed to close at 6089. Nifty on daily charts has formed Bearish engulfing pattern and RSI is showing negative divergence. This suggest market is has formed short term top and may see some weakness ahead. However there are some positive points as well nifty has hold on to levels of 6080 on closing basis as well hold on to lows of hanging man which was formed on 11th October, 2013. This correction is healthy and trend will reverse only if nifty breaks 5960 on closing. So buying on dips would be best strategy.  For intraday nifty has resistance around levels of 6120-6175. On downside support for nifty is around 6040-5990.

National Aluminium Company’s alumina exports in the first half of FY14 vaulted 50 per cent from a year ago, mainly on account of the capacity expansion undertaken by the company. In the six months to September, Nalco exported 638,000 tonnes of alumina compared with 425,000 tonnes in the same period of fiscal 2012-13, the company said recently. The jump was largely because the company has expanded production capacity. We expect the scrip to move upwards in near term. 

Mindtree’s net profit rose by 77.8% to Rs 128.7 crore for the September quarter on the back of a strong growth in manufacturing and retail vertical. Revenues for the reported quarter grew 29.2% to Rs 769.5 crore from Rs 595.3 crore in the same period last fiscal.

Heidelberg Cement India today reported a Rs 28.35 crore loss for the July-September quarter on higher finance costs and depreciation expenses. The company, a subsidiary of German building material major Heidelberg Cement, had clocked Rs 7.5 crore net profit in the same quarter last fiscal.

Bajaj Holdings & Investments has posted a net profit after tax of Rs. 484.12 crore for the quarter ended September 30, 2013 as compared to Rs. 485.64 crore for the quarter ended September 30, 2012. Total Income has increased from Rs. 506.43 crore for the quarter ended September 30, 2012 to Rs. 508.36 crore for the quarter ended September 30, 2013.

Buoyed by a strong demand for outsourcing services, Tata Consultancy Services (TCS) would hire 5,000 people more than its initial target of 45,000 this fiscal. 

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Stock Market News Today

Indian markets are expected to open largely flat tracking flat to negative opening in most of the Asian markets as data out over the weekend showed a surprise drop in Chinese exports in September. In addition, August IIP data (for India) released on Friday came in at paltry 0.6% vs 2.8% in July.
US markets moved mostly higher on Friday benefiting from signs that lawmakers in Washington are making progress toward resolving the latest fiscal crisis and House Republicans were proposing a deal that would avert default and end the 11-day-old government shutdown. On the economic front, Thomson Reuters and the University of Michigan released a report showing that US consumer sentiment has continued to deteriorate in the month of October with index coming in at 75.2 compared to the September reading of 77.5. Meanwhile, European markets also ended higher on Friday on optimism that a deal on the debt-ceiling may be soon reached in the US, as the partial government shutdown enters the 11th day.
Indian markets sharply on Friday, with IT and realty stocks leading the rally, after Infosys reported healthy set of earnings results and capital market regulator SEBI issued draft regulations for setting up real estate investment trusts to increase the depth of India's real estate market in the country.

Economic and Corporate Developments

- The Reserve Bank of India's (RBI) net dollar sales in the forex spot market was $2.46 billion in August — when the rupee touched an all-time low of 68.85 against the dollar during intraday trades — compared with $5.9- billion in July. According to RBI data released on Thursday, it sold $3.1- billion and bought $324 million in August.
- The finance ministry pegs the current account deficit (CAD) at 3.7 per cent of gross domestic product (GDP) for the current financial year, but a survey by the Federation of Indian Chambers of Commerce and Industry (FICCI) projected it to be four per cent. This is high since many analysts peg the CAD at less than that forecast by the ministry.
- The Reserve Bank of India (RBI) has granted permission to banks to borrow from international/multilateral financial institutions for a limited period of up to November 30, said RBI on Thursday. RBI also said such borrowings should be for the purpose of general banking business and not for capital augmentation. According to the central bank, such borrowings shall be eligible for the concessional swap facility of RBI.

Result Review 

Reliance Industries (CMP: Rs.863/ TP: - Rs.953/ Upside: 10%)

Reliance Industries Ltd. (RIL) is scheduled to announce its 2QFY2014 results today. We expect the company's top line to increase by 6.4% yoy to Rs.96,117cr due to higher petrochemical prices during the quarter and INR depreciation against the US$. We expect the company's operating margin to contract by 95bp yoy to 7.7% due to lower gas production. The company's bottom-line is expected to increase by only 2.7% yoy to Rs.5,555cr. We maintain our Accumulate rating on the stock.

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Stock Market Watch

Many companies with over-average rural exposure fare better in stock market

      India Inc's rural champions have probably never had it so good. The best monsoon in 15 years has erased bad memories of last year's drought and kindled hopes of a turnaround in demand for key products. At a time when the rest of India Incis either groaning under heavy debt or struggling to sell in a sluggish market, companies with heavy rural focus are literally licking their lips in anticipation of a surge in demand in India's villages and towns. Already, two-wheeler sales are inching up, tractor sales are booming and banks are hiring employees in far-flung regions, hoping to benefit from a monsoon that has increased the kharif area by 5% and water reservoir levels by 15%. 

       Deutsche Bank says in a report that years of above-average rainfall have increased rural prosperity and stock markets have responded by pushing up prices of companies with a strong rural presence. But there is an interesting divergence here. Companies with above-normal exposure to rural areas are doing much better than those with an equal split of urban and rural or with less than average rural presence. So, an M&M Financial, with 80% of income from rural areas, is outperforming Bajaj Finance and Shriram Transport; Emami and ITCBSE -0.65 % are outperforming Hindustan Unilever, Hero's traditional rural strength is helping its stock race past Bajaj Auto.

Stock Market Tips For Today 04-10-2013

BUY ASTRAZENECA PHARMA (LCP 896.3) ABOVE 903 TG-910-920
BUY FINTECH (LCP-159.55) ABOVE 161 TG-164-168

     
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Stock Market Outlook – Stock Market News By Money CapitalHeight

Indian market closed at one-month high Thursday with the benchmark indices rising 2 percent. The BSE Sensexrose 381.94 points to close at 19676.06 after hitting an intraday high of 19723.51. The NSE Nifty soared 118.40 points to finish at 5935.10.All eyes will be on Narayan Murthy's return and commentary from him as earnings season officially kicks starts with IT major Infosys reporting April-June numbers today. According to a CNBC-TV18 poll, it is expected to be a muted first quarter with dollar revenue seen flat at USD 1957 million while profits may dip 3 percent. Further margin  pressure is seen. FY14 dollar revenue guidance could be maintained at 6-10 percent.

Stock Market Outlook:

NIFTY TREND: CONSOLIDATE

NIFTY SPOT LEVELS

SUPP 1: 5870 ; SUPP 2: 5775

RES 1: 5975 ; RES 2: 6070

BANK NIFTY TREND: CONSOLIDATE

BANK NIFTY FUTURE LEVELS

SUPP 1: 11590 ; SUPP 2: 11310

RES 1: 11770 ; RES 2: 11990

Stocks to be in focus today:

·   In the latest on strike at Bajaj Auto 's Chakan plant in Pune, there is a tripartite meeting in between the Chief Labour Commissioner, Bajaj Auto management and workers.

·   Agency reports indicate that Coal India 's arm has signed two fuel supply pacts with NTPC . Sources say that the arm will supply 2.3 mt coal per year and the fuel supply pact with ntpc supports 1,000 mw capacity.

·   Zuari Agro has further upped its stake in Mangalore Chemicals . It has bought an additional 2.5 percent stake at nearly Rs 68 a share. It's total stake is at 16 percent from 13.5 percent.

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Stock Market Trends - Stock Market News & Updates

Stock Tips are majorly related to, or are regarding news update on national Stock exchange, live Nifty statistics, stock charts, gainers and losers, etc. The Share tips help the investors and traders to make informed decisions by making careful observations on NSE market movements. By availing the NSE tips, the investors again benefit significantly by getting NSE market's whole picture.

The market opens on strong note climbing on global cues. The Sensex opens up 235.62 points 19529.74 while the Nifty is up 76.55 points at 5893.25.  About 276 shares have advanced, 36 shares declined, and 18 shares are unchanged. Asian shares climbed to a three-week high on Federal Reserve Chairman Ben Bernanke assurance that highly accommodative monetary policy is needed now. Indian rupee appreciated further in early trade Thursday, opening with 34 paise gains at 59.32 per dollar as against previous day's closing value of 59.66.

Today’s Stock Market Trends:

·  Indian markets ended lower. Nifty,Sensex down by 0.72% & 0.75% respectively.

·  Asia-Pacific markets mix; Nikkei down by 0.391% and Hang Seng up by 1.06%.

·  Wall St up. French Ind Production -0.4% (m/m). German final CPI 0.1% (m/m).

Indian markets ended in red. PSU OMCs edged lower on higher crude oil price. Nikkei falls as dismal China data raise growth concerns. China's exports and imports both unexpectedly declined in June. Nifty down by 42 pts, closed at 5816. Sensex down by 145 pts, closed at 19294. Dow Futures down by 8 pts. Europe markets are down.

The domestic currency has been gaining for the third consecutive day today after hitting a record low of 61.21 per dollar Monday. The euro spiked to 1.30 to the dollar. Meanwhile, the dollar index slumped to sub 83 levels post dovish comments from fed chief, Ben Bernanke. Mohan Shenoi of Kotak Mahindra Bank feels dovish comments by Bernanke and indication in FOMC minutes that further improvement in the labour market outlook is needed for tapering asset purchases has led to dollar weakness.

                        Money CapitalHeight is an ISO 9001-2011 Registered Company. We are a leading Stock Advisory Company, having a strong hold in providing most authentic and accurate Stock Tips & Commodity Tips.

For 2 Days Free Stock Tips, Live stock calls, stock market recommendation, stock technical view, stock market strategy, stock market planning  please visit our site at www.capitalheight.com/freetrial.php  or please call our 24/7 Customer Care Support us at  +91 9993066624,  0731 – 4295900.