Thursday, January 7, 2016
Tuesday, January 5, 2016
MARKET OUTLOOK
The Nifty Bank index traded with a negative bias in yesterday's trading session and ended the day with losses of 0.34%. The Private sector index heavyweights are showing signs of consolidation with negative bias whereas the PSU banking space is continuously forming 'Lower Tops Lower Bottoms' with no signs of reversal yet. We believe the near term weakness would continue in the PSU space and hence one needs to keep a stock specific approach within the sector.
The immediate support for the Nifty Bank index is placed around 16420 and 16200 and with the individual stocks showing weakness, the index could test these support levels in near term. The immediate resistance for the index is seen around 16800 and 16900.
The immediate support for the Nifty Bank index is placed around 16420 and 16200 and with the individual stocks showing weakness, the index could test these support levels in near term. The immediate resistance for the index is seen around 16800 and 16900.
RBI likely intervened to curb rupee fall - traders
Indian state-owned banks were likely selling dollars on behalf of the Reserve Bank of India (RBI) to cap losses for the local currency, three FX traders told Reuters.
The Indian rupee had fallen to an over two-week low of 66.6625 to the dollar earlier in the session, tracking weak local shares and dollar demand from oil importers.
At 0945 GMT, the Indian rupee was little changed at 66.60/61 compared with 66.61/66.62 previous close.
The Indian rupee had fallen to an over two-week low of 66.6625 to the dollar earlier in the session, tracking weak local shares and dollar demand from oil importers.
At 0945 GMT, the Indian rupee was little changed at 66.60/61 compared with 66.61/66.62 previous close.
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Sensex choppy after China sell-off, earnings awaited
Indian stock markets swung between small gains and small losses on Tuesday as some blue chips recovered from steep falls in the previous session, but overall market sentiment remained cautious due to continued worries about China's markets.
Indian shares fell more than 2 percent on Monday, with the broader NSE Nifty posting its biggest single-day percentage fall in over four months, after Chinese shares posted steep falls on the back of weak economic data.
The caution over global markets comes at a time when domestic investors are concerned about the weak state of India's corporate earnings.
UBS said corporate earnings consensus for FY16, FY17 and FY18 still looked optimistic, and expected about an 8 percent cut to earnings forecasts this year.
Tata Consultancy Services will kick start the earning season on Jan. 12.
"After the fall yesterday there is some amount of caution that traders are exercising," said Deven Choksey, managing director at KR Choksey Securities.
The Nifty was up 0.13 percent at 0734 GMT while the benchmark BSE index was trading 0.07 percent higher.
Gains were led by blue-chips stocks that fell on Monday. Reliance Industries rose 1.3 percent after falling 2 percent in the previous session.
Larsen & Toubro rose 0.76 percent after losing 2.6 percent on Monday.
But Mahindra and Mahindra trimmed gains to trade 0.6 percent lower after the Supreme Court upheld a December ruling that temporarily banned the sale of large diesel cars in New Delhi. The stock rose as much as 2.37 percent earlier.
Shares in Apollo Hospitals fell as much as 1.22 percent on media reports that income tax officials had conducted raids on some of its offices.
Indian shares fell more than 2 percent on Monday, with the broader NSE Nifty posting its biggest single-day percentage fall in over four months, after Chinese shares posted steep falls on the back of weak economic data.
The caution over global markets comes at a time when domestic investors are concerned about the weak state of India's corporate earnings.
UBS said corporate earnings consensus for FY16, FY17 and FY18 still looked optimistic, and expected about an 8 percent cut to earnings forecasts this year.
Tata Consultancy Services will kick start the earning season on Jan. 12.
"After the fall yesterday there is some amount of caution that traders are exercising," said Deven Choksey, managing director at KR Choksey Securities.
The Nifty was up 0.13 percent at 0734 GMT while the benchmark BSE index was trading 0.07 percent higher.
Gains were led by blue-chips stocks that fell on Monday. Reliance Industries rose 1.3 percent after falling 2 percent in the previous session.
Larsen & Toubro rose 0.76 percent after losing 2.6 percent on Monday.
But Mahindra and Mahindra trimmed gains to trade 0.6 percent lower after the Supreme Court upheld a December ruling that temporarily banned the sale of large diesel cars in New Delhi. The stock rose as much as 2.37 percent earlier.
Shares in Apollo Hospitals fell as much as 1.22 percent on media reports that income tax officials had conducted raids on some of its offices.
Monday, January 4, 2016
Sensex hits near 2-week low on China sell-off
India's stock markets fell nearly 2 percent on Monday to their lowest level in nearly two weeks after Chinese equities lost 7 percent, prompting exchanges in China to halt trading for the first time.
China's benchmark CSI300 share index tumbled 7 percent on the first session of 2016 after weak factory activity surveys soured hopes that the world's second-largest economy will enter the new year on better footing, and selling intensified throughout the day.
India's volatility gauge rose over 16 percent, its highest since Sept. 1.
"The correction in the market in China should not be a cause of worry because it has moved up without any fundamental backing (in 2015). The bigger concern is global deflationary pressures are rising," said G Chokkalingam, founder of Equinomics, a Mumbai-based research and fund advisory firm.
The broader NSE Nifty was trading 1.74 percent lower at 0712 GMT after falling as much as 1.88 percent earlier to its lowest level since Dec. 22.
The benchmark BSE Sensex was down 1.69 percent after falling as much as 1.85 percent earlier. The index touched its lowest level since Dec. 22.
All sectors were in the red with financial and bank stocks leading the fall.
China's benchmark CSI300 share index tumbled 7 percent on the first session of 2016 after weak factory activity surveys soured hopes that the world's second-largest economy will enter the new year on better footing, and selling intensified throughout the day.
India's volatility gauge rose over 16 percent, its highest since Sept. 1.
"The correction in the market in China should not be a cause of worry because it has moved up without any fundamental backing (in 2015). The bigger concern is global deflationary pressures are rising," said G Chokkalingam, founder of Equinomics, a Mumbai-based research and fund advisory firm.
The broader NSE Nifty was trading 1.74 percent lower at 0712 GMT after falling as much as 1.88 percent earlier to its lowest level since Dec. 22.
The benchmark BSE Sensex was down 1.69 percent after falling as much as 1.85 percent earlier. The index touched its lowest level since Dec. 22.
All sectors were in the red with financial and bank stocks leading the fall.
Sunday, January 3, 2016
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TOP PICKS FOR 2016
TOP PICKS 2016
SMC Global -2016 top stock picks
Sr No Company Name
1 Reliance Industries (RIL),
2 Zee Entertainment,
3 Tata Power,
4 Biocon,
5 Dewan Housing Finance Limited (DHFL),
6 D B Corp,
7 Sintex Inds,
8 Kalpataru Power,
9 Essel Propack,
10 Suprajit Engineering
IndiaNivesh Securities -2016 top stock picks
Sr No Company Name
1 Aurobindo Pharma,
2 Camlin Fine Sciences,
3 Capital First,
4 Force Motors,
5 KPR Mills,
6 Majesco,
7 Nesco
Motilal Oswal Securities
Sr No Company Name
1 SBI,
2 ICICI BANK,
3 BPCL,
4 Interglobe Aviation (Indigo),
5 Bharat Forge,
6 Ashok Leyland,
7 DHFL,
8 Inox Wind,
9 Vinati Organics and
10 Granules India
Cholamandalam Securities -2016 top stock picks
1 Company Name
2 HCL Technologies,
3 Lakshmi Vilas Bank,
4 Lumax Industries,
5 PI Industries,
Nomura
1 Company Name
2 Maruti Suzuki,
3 Axis Bank,
4 Container Corporation of India,
5 HCL Tech
Creadit Suisse
1 Company Name
2 Maruti Suzuki,
3 Axis Bank,
4 Container Corporation of India,
5 HCL Tech
6 SBI and
7 Bharti Airtel
HDFC Sec
1 Company Name
2 Bajaj Electrical
3 Biocon
4 GIC Housing
5 Texmaco Rail
6 TV Today
7 Walchandnagar Ind
Edelweiss :Best Stocks for 2016
1 Dalmia Bharat
2 Jamna Auto Industries Ltd.
3 Natco Pharma
4 Siyaram Silk Mills Ltd.
5 United Spirits Ltd.
Religare – Top Pick 2016
1) Amara Raja Batteries Ltd
2) Britannia Industries Ltd
3) Century Plyboards (India) Ltd
4) Somany Ceramics Ltd
Porinju Veliyath
Indian Hotels
Biocon
Tata Global Beverages
Anant Raj
S P Tulsian – 2016 top picks
MCX
BF Utilities
AIA Engineering
Hydro S&S
Prakash Diwan – 2016 top picks
Plastiblends
Deccan Gold
Dion Global
Chartered Logistics
Ambareesh Baliga – 2016 top picks
HT Media
Engineers India
Jain Irrigation
Gabriel India
ICICI Securities -Market Strategy 2016 -Top picks
Bajaj Finserv (BAFINS) Target Price: | 2308(19% upside)
Jagran Prakashan (JAGPRA) Target Price: | 193 (22% upside)
Jet Airways (JETAIR) Target Price: | 790 (26% upside)
Greaves Cotton (GREAVES) Target Price: | 180 (28% upside)
Mahindra & Mahindra (MAHMAH) Target Price: | 1470 (17% upside)
Somany Ceramics (SPLIND) Target Price: | 465(24% upside)
Ashoka Buildcon (ASHBUI) Target Price: | 240 (17% upside)
VA Tech Wabag (VATWAB) Target Price: | 830 (19% upside)
SMC Global -2016 top stock picks
Sr No Company Name
1 Reliance Industries (RIL),
2 Zee Entertainment,
3 Tata Power,
4 Biocon,
5 Dewan Housing Finance Limited (DHFL),
6 D B Corp,
7 Sintex Inds,
8 Kalpataru Power,
9 Essel Propack,
10 Suprajit Engineering
IndiaNivesh Securities -2016 top stock picks
Sr No Company Name
1 Aurobindo Pharma,
2 Camlin Fine Sciences,
3 Capital First,
4 Force Motors,
5 KPR Mills,
6 Majesco,
7 Nesco
Motilal Oswal Securities
Sr No Company Name
1 SBI,
2 ICICI BANK,
3 BPCL,
4 Interglobe Aviation (Indigo),
5 Bharat Forge,
6 Ashok Leyland,
7 DHFL,
8 Inox Wind,
9 Vinati Organics and
10 Granules India
Cholamandalam Securities -2016 top stock picks
1 Company Name
2 HCL Technologies,
3 Lakshmi Vilas Bank,
4 Lumax Industries,
5 PI Industries,
Nomura
1 Company Name
2 Maruti Suzuki,
3 Axis Bank,
4 Container Corporation of India,
5 HCL Tech
Creadit Suisse
1 Company Name
2 Maruti Suzuki,
3 Axis Bank,
4 Container Corporation of India,
5 HCL Tech
6 SBI and
7 Bharti Airtel
HDFC Sec
1 Company Name
2 Bajaj Electrical
3 Biocon
4 GIC Housing
5 Texmaco Rail
6 TV Today
7 Walchandnagar Ind
Edelweiss :Best Stocks for 2016
1 Dalmia Bharat
2 Jamna Auto Industries Ltd.
3 Natco Pharma
4 Siyaram Silk Mills Ltd.
5 United Spirits Ltd.
Religare – Top Pick 2016
1) Amara Raja Batteries Ltd
2) Britannia Industries Ltd
3) Century Plyboards (India) Ltd
4) Somany Ceramics Ltd
Porinju Veliyath
Indian Hotels
Biocon
Tata Global Beverages
Anant Raj
S P Tulsian – 2016 top picks
MCX
BF Utilities
AIA Engineering
Hydro S&S
Prakash Diwan – 2016 top picks
Plastiblends
Deccan Gold
Dion Global
Chartered Logistics
Ambareesh Baliga – 2016 top picks
HT Media
Engineers India
Jain Irrigation
Gabriel India
ICICI Securities -Market Strategy 2016 -Top picks
Bajaj Finserv (BAFINS) Target Price: | 2308(19% upside)
Jagran Prakashan (JAGPRA) Target Price: | 193 (22% upside)
Jet Airways (JETAIR) Target Price: | 790 (26% upside)
Greaves Cotton (GREAVES) Target Price: | 180 (28% upside)
Mahindra & Mahindra (MAHMAH) Target Price: | 1470 (17% upside)
Somany Ceramics (SPLIND) Target Price: | 465(24% upside)
Ashoka Buildcon (ASHBUI) Target Price: | 240 (17% upside)
VA Tech Wabag (VATWAB) Target Price: | 830 (19% upside)
Friday, January 1, 2016
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INDIA FASTEST GROWING ECONOMY
India has emerged as the world's fastest growing economy despite a global economic slowdown and four droughts, the government's Chief Economic Adviser Arvind Subramanian said on Friday.
"Despite declining global demand & 4 droughts, fastest growing economy," he tweeted.
In a series of tweets, the CEA went on to list other major government successes like improvement in spending on agriculture, fiscal consolidation at central and state levels and improvement in indirect tax efficiency.
"Despite declining global demand & 4 droughts, fastest growing economy," he tweeted.
In a series of tweets, the CEA went on to list other major government successes like improvement in spending on agriculture, fiscal consolidation at central and state levels and improvement in indirect tax efficiency.
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STOCK IN NEWS
- China December factory activity shrinks, more stimulus needed in 2016
- IOC to cut diesel, petrol prices from Friday
- India will soon allow duty-free imports of 500,000 T corn - sources
- Cadila Healthcare shares plunge after FDA warns of violations
- India's fiscal deficit reaches 87 pct of full-year target in November
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