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Sensex, Nifty end higher ahead of March F&O expiry; Banks soar

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Indian Indices: Indian equity benchmarks continue to maintain the upbeat trend in late afternoon session as positive global cues along with strong rupee against dollar, buoyed investors’ sentiments. Traders remained optimistic with the Care ratings’ report that it expects GDP growth to accelerate to 8 percent next financial year as against 7.1 percent in this year as per the latest CSO estimate and added that the monsoon will be the only domestic risk factor which may scupper this. Sentiments also got some lift with the report that Finance Minister ArunJaitley moved the Central Goods and Services Tax (CGST) Bill, 2017, along with three other GST Bills for consideration and passage in the LokSabha. However, up-side remained capped ahead of the near month March 2017 derivatives contract expiry on Thursday.

The BSE Sensex is currently closed at 29,531.43 up by 121.91 points or 0.41% after trading in a range of 29439.42 and 29535.04. There were 18 stocks advancing against 12 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index was up by 0.41%, while Small cap index was up by 0.47%.

The CNX Nifty is currently shut up at 9143.80 up by 43.00 points or 0.47% after trading in a range of 9109.10 and 9140.10. There were 35 stocks advancing against 16 stocks declining on the index.

MARKET INDICATORS

·           

 

Top Movers (Group A)

 

 

Company

Cmp

% chg

Gainers

 

 

Dishman

301.50

8.38

GRUH

408.00

9.99

Edelweiss

157.25

7.71

Muthootfin

377.40

7.52

Losers

 

 

Bharatfin

804.154

-3.63

NLCIndia

104.55

-3.55

Unitech

5.43

-3.21

SREINFRA

82.95

-3.04

INDEX PERFORMANCE

 

 

Index

Close

% Chg

Sensex

29,531.43

0.41

Nifty

9,143.80

0.47

Crporate Front: Foreign investors are set for their biggest monthly purchases of Indian equities in four years in March, but analysts expect inflows to moderate after a major overhaul of tax rules kicks in on April 1.Market participants estimate about one-third of the inflows of $3.6 billion seen this month - the biggest since February 2013 - were linked to buying ahead of the implementation of the General Anti-Avoidance Rules (GAAR).

 

Macroeconomic front:

Finance Minister ArunJaitley said that the tax rates will be kept at the current levels so as not to have any inflationary impact, reported PTI. Introducing four bills to give effect to the Goods and Services Tax (GST), Jaitley said the legislations will have to be passed by Parliament and one by each of the state assemblies to turn India into one market with a single tax rate.

 

On the global front:

On the global front, European markets were trading in green, on Wednesday, as investors looked to London and Brussels and the start of Britain's much-anticipated Brexit proceedings. Back home, in scrip specific development, Kalpataru Power Transmission (KPTL) edged higher after the company secured new orders exceeding Rs 1200 crore and Talwalkars Better Value Fitness (TBVF) surged after the company inaugurated its 10 Zorba - renaissance studios.

Commodity Updates:

Commodity Prices (MCX):

Commodity

Rs

% Chang

Gold

28674.00

-0.6

Silver

422118.00

-0.64

Crude oil

3165.00

-0.06

Natural Gas

208.80

0.88

Alluminium

125.40

-0.52

Copper

382.65

-0.65

Top Sectoral& Stock Screening:The top gaining sectoral indices on the BSE were Telecom up by 1.46%, Bankex up by 0.77%, Capital Goods up by 0.77%, PSU up by 0.75% and Metal up by 0.74%, while Realty down by 0.36%, Healthcare down by 0.24%, Oil & Gas down by 0.16% were the top losing indices on BSE.

Top Nifty Movers:The top gainers on Nifty were BhartiInfratel up by 4.90%, SBI up by 2.46%, Eicher Motors up by 1.88%, Hindalco up by 1.74% and HCL Tech up by 1.64%. On the flip side, Grasim Industries down by 0.91%, Sun Pharma down by 0.90%, Mahindra & Mahindra down by 0.83%, Kotak Mahindra Bank down by 0.62% and AurobindoPharma down by 0.59% were the top losers.

 

Global Signals:

Asian markets were trading mostly in green; KOSPI Index increased 3.67 points or 0.17% to 2,166.98, Nikkei 225 increased 14.61 points or 0.08% to 19,217.48, Jakarta Composite increased 34.72 points or 0.63% to 5,575.92 and Hang Seng increased 46.18 points or 0.19% to 24,392.05. On the flip side, Taiwan Weighted decreased 20.2 points or 0.2% to 9,856.25, Shanghai Composite decreased 11.63 points or 0.36% to 3,241.31 and FTSE Bursa Malaysia KLCI decreased 5.41 points or 0.31% to 1,749.01.

All European markets were trading in green; UK’s FTSE 100 increased 12.37 points or 0.17% to 7,355.79, France’s CAC increased 18.58 points or 0.37% to 5,064.78 and Germany’s DAX increased 71.94 points or 0.59% to 12,221.36.

 

US indices bounce back with Dow Jones having best rally in over 3 weeks as Oil trades over US $ 48. Bond yields rise as US March confidence data jumps sharply.

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Indian Indices: Asian indices are set for another good day after Dow Jones clocked a 150 point rally overnight. The indices were in oversold zone and a bounce was on the cards, which got the necessary fillip from the US confidence data, which showed the highest reading since 2000.


Nifty saw strong foreign buying, the best in the last 6 months that lifted the index to 9100. With expiry of derivative contracts tomorrow expect bulls to strive higher in the opening session as short covering sees Nifty test 9150. For today expect buying in Metals, Banks and Infra to continue even as Pharma and IT will witness profit booking.  


The BSE Sensex is currently trading at 29474.05, up by 64.53 points or 0.22% after trading in a range of 29439.42 and 29494.44. There were 18 stocks advancing against 12 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index was up by 0.15%, while Small cap index was up by 0.40%.

The CNX Nifty is currently trading at 9119.60, up by 18.80 points or 0.21% after trading in a range of 9109.10 and 9134.05. There were 33 stocks advancing against 18 stocks declining on the index.

MARKET INDICATORS

·           

 

Group ATopGainers

 

 

Company

Price (Rs)

% chg

Dishman

306.00

9.99

Cox&Kings

220.60

5.60

SCI

72.90

5.27

CentralBk

103.20

4.77

Group ATopLosers

 

 

Hindzinc

291.50

-2.35

Sadhav

300.00

-2.26

KEC

189.30

-2.25

Fincables

504.00

-1.44

INDEX PERFORMANCE

 

 

Indices

Support

Resistanes

Sensex

29326

29525

Nifty

9090

9130

 

Technical view: Nifty will find strong support around 9080, which was yesterday's low and face resistance around 9170 on the upside. Bank Nifty finds support around 21145, which was yesterday's low and faces resistance @ 21350, which was the swing top of last week.


 

Zee Entertainment (Buy above 531, for Target of 550, Stop Loss at 521.5): The stock has witnessed a swift move and has smoothly broken out from a Symmetrical Triangle pattern indicating a typical continuation of its previous uptrend. The price outburst has also been accompanied with smart volume uptick. Other momentum oscillators also indicate strength in the current up move.


Derivative Snippets: In the last trading session, markets ended the trading session on a positive note, as PSU banks continued to surge higher. Long Build up was seen in Bank Nifty future along with the short covering of ITM/ATM call options, indicating of a continuation of this rally up to the resistance zone of 21500 levels.

FIIs were net buyers in cash market segment to the tune of Rs 6415 crore.

FII’s index future long/short ratio at 2.7x vs3.2x, with a significant creation of fresh long and shorts positions to the tune of ~34k and ~12K contracts.

Nifty Movers: The top gainers on Nifty were BhartiInfratel up by 3.44%, Tata Power up by 2.14%, Asian Paints up by 1.51%, SBI up by 1.24% and Larsen & Toubro up by 1.21%.
On the flip side, Adani Ports & Special Economic Zone down by 1.06%, AurobindoPharma down by 0.62%, Kotak Mahindra Bank down by 0.58%, Mahindra & Mahindra down by 0.57% and Reliance Industries down by 0.49% were the top losers.

Top Sectoral& Stock Screening:  The top gaining sectoral indices on the BSE were Telecom up by 1.08%, Capital Goods up by 0.73%, Industrials up by 0.47%, Consumer Durables up by 0.47% and Basic Materials up by 0.42%, while Oil & Gas down by 0.29%, Energy down by 0.22% and Healthcare down by 0.04% were the few losers on BSE.

 

 

 

 

On the global front: On the global front, Asian shares were trading mostly in green, taking a cue from Wall Street overnight. Bank of Japan board member Takehiro Sato said labor market reform and other measures to boost Japan’s growth potential must accompany monetary easing to raise the country’s low long-term inflation expectations. Japanese retail sales were effectively flat in February as consumers cut back on food and durable goods after employers offered the lowest spring wage increases in four years.

 

Global Signals:The Asian markets were trading mostly in green; KOSPI Index increased 2.85 points or 0.13% to 2,166.16, Shanghai Composite increased 4.6 points or 0.14% to 3,257.55, Nikkei 225 increased 8.51 points or 0.04% to 19,211.38, Hang Seng increased 34.51 points or 0.14% to 24,380.38 and Jakarta Composite increased 41.32 points or 0.75% to 5,582.52.

On the other hand, Taiwan Weighted decreased 32.22 points or 0.33% to 9,844.23 and FTSE Bursa Malaysia KLCI decreased 3.79 points or 0.22% to 1,750.63.

 

Investor brefing Hindustan unilever ltd.-Research report-Sharetipsinfo

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Text Box: Company Overview:

 

Hindustan Unilever Limited is engaged in fast-moving consumer goods business comprising home and personal care, foods and refreshments. The Company's segments are Soaps and Detergents, which includes soaps, detergent bars, detergent powders, detergent liquids and scourers; Personal Products, which includes products in categories of oral care, skin care (excluding soaps), hair care, deodorants, talcum powder, color cosmetics and salon services; Beverages, which includes tea and coffee; Packaged Foods, which includes branded staples (atta, salt and bread), culinary products (tomato-based products, fruit-based products and soups) and frozen desserts, and Others that includes exports, chemicals, water business and infant care products. The Others segment also includes export sale of marine and leather products. Its brands include Lux, Surf excel, Rin, Wheel, Fair & Lovely, Pond's, Vaseline, Lakme, Dove, Clinic Plus, Sunsilk, Axe, Brooke Bond, Bru, Knorr, Kissan, Kwality Wall's and Pureit.

 

Business Growth :

 

Input inflation to improve the sales growth;

HUL is seeing gradual recovery in demand with wholesale channel is yet to normalize. However, the company is expecting improvement in growth driven by revival in rural demand. GST will not have any impact on volumes as inventory levels already low

* Company continues to focus on new products/categories like Ayush (Ayurveda) & Baby products and is also investing towards market development (~25% of sales) where the penetration levels. No down-trading was witnessed in the DeMon period

* Sustained premiumisation trend across categories is encouraging with a focus on sustained improvement in margins. We believe input inflation will improve the value/volume mix which was impacted in the recent past with growth mainly driven by volumes. We retain our estimates and maintain ACCUMULATE with target of Rs 950.

 

INVESTMENT ARGUMENT:

Recovery is gradual; expects to gain momentum

HUL is seeing gradual recovery in demand with wholesale channel is yet to normalize and green shoots which were visible pre-DeMon has taken a pause. However, the company is expecting improvement in growth driven by revival in rural demand and indicated that GST will not have any impact on volumes as company has been focusing on keeping inventory levels low at the wholesale channel since last one year. Focus has been on improving the direct reach (3mn outlets) through technology (data analytics) and better assortment at the retail outlets. Revival in rural will be driven by good monsoons and increase spend on rural by the government.


Premiumisation continues; Focus on new products & innovation

No down-trading by the consumer witnessed during the DeMon period although shift towards lower unit packs (LUP) was visible across categories. Company continues to focus on new products/categories like Ayush (Ayurveda) & Baby products and is also investing towards market development (~25% of sales) where the penetration levels are significantly low like fabric conditioner, fabric liquid, liquid dish wash, body wash, green tea etc. Categories with low penetration are witnessing strong double digit growth. 

Financial Result:

 

Income Statement

Particulars

Dec-16

Sep-16

June-16

Revenue

8317.94

8480.26

8128.18

Other Income

82.44

252.83

107.59

Total Income

8400.38

8733.09

8235.77

Expenditure

-6809.45

-7057.40

-6421.52

Interest

-4.56

-4.94

-5.95

PBDT

1586.37

1670.75

1808.30

Depreciation

-100.0

-94.50

-93.29

PBT

1486.17

1576.25

1715.01

Tax

-448.24

-480.65

-541.11

Net Profit

1037.93

1095.60

1173.90

Equity

216.43

216.43

216.43

 

Highlights the fact:

 

1)HUL is seeing gradual recovery in demand with wholesale channel is yet to normalize and green shoots .

2)Company continues to focus on new products/categories like Ayush (Ayurveda) & Baby products.

3)GST will not have any impact on volumes as inventory levels already low.

4)Reduction in promotion and calibrated price hikes covers up the increase in input cost.

5) Categories with low penetration are witnessing strong double digit growth. 

 

Technically View:

The stock is currently trading above 50 days and 100 days, moving average that is all about good bullish& uptrend signal on daily base. RSI &MFI is present at 57 and 75respectivally, which is side ways& showing the uptrend formation for the short term period. The stock is currently in uptrend and now somemore upside is expecting with major support is found 870level. MACD line is greaterthen signal line 10 day Avg Volume is very high.

 

 

VALUATION & OUTLOOK:

 

Sustained premiumisation trend across categories is encouraging with a focus on sustained improvement in margins. We believe input inflation will improve the value/volume mix which was impacted in the recent past with growth mainly driven by volumes. Reduction in promotion and calibrated price hikes covers up the increase in input cost. We retain our estimates and maintain ACCUMULATE with a target price of Rs 950.

 

CONCLUSION:

 

Hindunilever accumulate with the stop loss would be below Rs 870and  would buy on any dip, it could be Rs 890. If it were to cross Rs 905, then also buy, that is going to be upward formation and the  target would be Rs 950 but the short-term target remains around Rs 950.

 

 

Sensex ends 172 pts higher, Nifty at 9100; Axis Bank up 3%

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Indian Indices: Indian equity benchmarks continued their firm trade in late afternoon session on the back of positive cues from European counterparts and healthy buying in Telecom, Banking and Metal stocks. Hopes of timely implementation of goods and services tax (GST) and sustained foreign fund inflows also boosted the domestic sentiments. 

Investors remained optimistic with the private report that manufacturing improved in March after a three month decline, while various government measures are likely to push up activity in the infrastructure sector going forward. The yearly SBI Composite Index bounced back to above 50-mark level to 50.3 after 3-months of decline. Besides, the monthly index has also improved to 53.3 in March, from 49.2 in February. Some support also came with Revenue Secretary HasmukhAdhia’s statement that GST will not only usher in a transparent tax system thereby reducing cascading of taxes, but will also result in reduction of prices for consumers and broaden the tax base in the country.

The BSE Sensex is currently closed at 29,409.52, up by 172.37 points or 0.59% after trading in a range of 29301.22 and 29442.18. There were 21 stocks advancing against 9 stocks declining on the index.The broader indices were trading in green; the BSE Mid cap index was up by 0.71%, while Small cap index was up by 0.75%.

The CNX Nifty is currently shut up at 9,100.80 up by 55.60 points or 0.61% after trading in a range of 9080.80 and 9109.75. There were 39 stocks advancing against 12 stocks declining on the index.

MARKET INDICATORS

·           

 

Top Movers (Group A)

 

 

Company

Cmp

% chg

Gainers

 

 

Dishman

278.20

19.99

Srtransfin

1076.00

5.50

Fincables

511.35

4.29

JKLakshmi

451.85

3.86

Losers

 

 

JKTYRE

130.80

-3.25

Centralban

98.50

-3.76

DBCORP

368.80

-3.07

Apollotyre

203.90

-3.18

INDEX PERFORMANCE

 

 

Index

Close

% Chg

Sensex

29,409.52

0.59

Nifty

9,100.80

0.61

Crporate Front: In a response to allegations raised in some newspapers regarding LED bulb distribution, Energy Efficiency Services Limited (EESL) a company under the administrative control of Ministry of Power has strongly refuted the claims, stating it is false, misleading and devoid of any facts. Dismissing the allegations, EESL has stated that LED bulbs are procured by the company in the most transparent and professional manner.

 

 

Macroeconomic front: The Department of Industrial Policy and Promotion (DIPP) and global think-tank OECD are jointly organising a seminar to assess India's FDI regime and find ways to further improve the ease of doing business, reported PTI. The international seminar on April 5 is also aimed at analysing the business climate of the country to further facilitate domestic as well as foreign investments.

 

On the global front:

On the global front, European markets were trading in green as financial services stocks and car-makers edged higher against a backdrop of rising oil prices. Besides, investors moved on from health-care disappointment. Asian markets were also trading in green. Back home, in scrip specific development, Bank of Baroda traded higher after the bank entered into memorandum of understanding (MOU) with Jain Irrigation Systems, with an objective to finance the Micro Irrigation systems i.e. drip and sprinkler irrigation sold by the company through the network of Bank of Baroda branches across the country.

Commodity Updates:

Commodity Prices (MCX):

Commodity

Rs

% Chang

Gold

28786.00

-0.07

Silver

42080.00

-0.1

Crude oil

3146.00

1.09

Natural Gas

201.80

-1.61

Alluminium

125.15

0.04

Copper

379.10

0.04

Top Sectoral& Stock Screening:The top gaining sectoral indices on the BSE were Telecom up by 0.98%, Metal up by 0.75%, Bankex up by 0.75%, Basic Materials up by 0.74% and TECK up by 0.66%, while Oil & Gas down by 0.35% and Energy down by 0.31% were the only losing indices on BSE.

Top Nifty Movers:The top gainers on Nifty were Axis Bank up by 2.51%, Tata Motors - DVR up by 2.03%, HDFC up by 1.95%, Zee Entertainment up by 1.81% and BhartiInfratel up by 1.76%. On the flip side, Tech Mahindra down by 2.94%, ONGC down by 0.98%, Hero MotoCorp down by 0.70%, GAIL India down by 0.53% and Kotak Mahindra Bank down by 0.46% were the top losers.

 

Global Signals:

Asian markets were trading mostly in green; FTSE Bursa Malaysia KLCI increased 5.35 points or 0.31% to 1,750.30, KOSPI Index increased 7.65 points or 0.35% to 2,163.31, Hang Seng increased 152.17 points or 0.63% to 24,345.87 and Nikkei 225 increased 217.28 points or 1.14% to 19,202.87. On the flip side, Shanghai Composite decreased 14.01 points or 0.43% to 3,252.95 and Taiwan Weighted decreased 0.32 points or 0% to 9,876.45.

European markets were trading mostly in green; UK’s FTSE 100 increased 0.86 points or 0.01% to 7,294.36 and Germany’s DAX increased 62.85 points or 0.52% to 12,058.92. On the flip side, France’s CAC decreased 5.37 points or 0.11% to 5,012.06.

 

 

Global markets bounce back as US stocks recover early losses to close lower as US Dollar and bond yields also rise.

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Indian Indices: Asian indices opened in the green with the Japanese 'Nikkei" jumping almost 250 points on opening bell. The overnight recovery in the US indices bought some cheer as most indices looked oversold in the near term. The Dow Jones however closed lower for the 8th consecutive session and a bounce back is on the cards for this week.


In the last session, Nifty followed global cues from opening bell and closed lower even though last hour buying by foreign investors saw some recovery. For today expect 9100 to be tested as foreign flows remain strong along with Rupee strength will see the Indian equity outperform in the near term. With expiry of derivative contracts on Thursday higher volatility will be the theme for next few days.


The BSE Sensex is currently trading at 29427.55, up by 190.40 points or 0.65% after trading in a range of 29301.22 and 29442.18. There were 25 stocks advancing against 5 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index was up by 0.69%, while Small cap index was up by 0.82%.

The CNX Nifty is currently trading at 9109.40, up by 64.20 points or 0.71% after trading in a range of 9080.80 and 9109.75. There were 42 stocks advancing against 9 stocks declining on the index.

MARKET INDICATORS

·           

 

Group ATopGainers

 

 

Company

Price (Rs)

% chg

Dishman

278.20

19.99

M&Mfin

337.45

5.37

Edelweiss

144.40

5.09

SCI

70.80

4.81

Group ATopLosers

 

 

KEC

195.35

-6.31

NLCINDIA

105.80

-3.73

Idea

87.65

-3.52

Tatacapital

480.00

-2.68

INDEX PERFORMANCE

 

 

Indices

Support

Resistanes

Sensex

29385

29585

Nifty

9090

9150

 

Technical view: Nifty will face resistance @ 9119 on the upside while 9025 which was yesterday's low will act as support on the downside. Bank Nifty also finds resistance around 21350 while 20980 will act as strong support on the downside.


 

FINCABLES (Buy above 492, for Target of 526, Stop Loss at 475): Fincables has broken out on weekly charts from a classic inverse head and shoulder pattern. The breakout is accompanied by surge in traded volumes in yesterday's trade, with a confirmation on the hourly charts too. Momentum oscillators suggest strength in the current price outburst indicating further upside in the coming days. We advise to Buy Fincables above Rs 492, Stop Loss at Rs 475 and Target of Rs 526.

Derivative Snippets:

In the last trading session, Nifty hovered around 9050 level and remained sluggish throughout the day. Nifty 9100CE strike saw fresh short selling as open interest surged by ~17 lakh shares. Short covering was witnessed in Nifty 9100PE, making 9100 level as a ceiling for Nifty in March F&O series.

FIIs were net buyers in cash market segment to the tune of Rs 578 crore.

FII’s index future long/short ratio at 3.2x vs 3.5x, with creation of fresh shorts to the tune of ~12K contracts

Nifty Movers: The top gainers on Nifty were HCL Technologies up by 2.09%, Tata Motors - DVR up by 2.03%, Axis Bank up by 1.87%, BhartiInfratel up by 1.81% and Tata Motors up by 1.70%. On the flip side, Tech Mahindra down by 1.88%, ONGC down by 1.14%, GAIL India down by 0.93%, Grasim Industries down by 0.51% and Coal India down by 0.41% were the top losers.

Top Sectoral& Stock Screening:  The gaining sectoral indices on the BSE were Consumer Durables up by 0.50%, IT up by 0.19% and TECK up by 0.07%, while Metal down by 1.62%, Energy down by 1.45%, Oil & Gas down by 0.86%, Telecom down by 0.71% and Healthcare down by 0.65% were the losing indices on BSE.

 

 

On the global front: On the global front, Asian shares were trading mostly in green, as investors shrugged off the disappointment from the current US administration’s ability to push through legislation to repeal and replace the Obama-era health-care law.

 

Global Signals: The Asian markets were trading mostly in green; KOSPI Index increased 3.33 points or 0.15% to 2,158.99, FTSE Bursa Malaysia KLCI increased 4.69 points or 0.27% to 1,749.64, Hang Seng increased 133.2 points or 0.55% to 24,326.90 and Nikkei 225 increased 188.21 points or 0.99% to 19,173.80.

On the other hand, Taiwan Weighted decreased 30.64 points or 0.31% to 9,846.13 and Shanghai Composite decreased 11.2 points or 0.34% to 3,255.75.Jakarta Stock Exchange is closed on account of ‘Hindu Saka New Year’ holiday.

 

Sensex closes off day’s low, Nifty above 9050; ITC, HDFC, Infosys support

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Indian Indices: Indian equity indices extended their gains and were hovering near the highest point of the day in late afternoon session, on continued buying by investors in Banking, PSU, and Utilities stocks. Sentiments remained optimistic with Finance Minister ArunJaitley’s statement that the government is keen to roll out the GST on July 1 and other aspects like bringing petroleum and land under its ambit will be considered after the first year of implementation of the new system of indirect tax collection. The GST bill will be introduced in Parliament next week. 

Meanwhile, the government has exempted FIIs from taxation of indirect transfers of Indian assets made after 2011 but has left prior period cases open for interpretation. On sectoral front, stocks of some public sector undertakings (PSU) were trading in green with the Nifty PSU Bank index gaining more than 4% with the private report that Finance Minister ArunJaitley.

The BSE Sensex is currently closed at 29,233.44 down by 187.96 points or 0.64% after trading in a range of 29163.54 and 29420.70. There were 6 stocks advancing against 24 stocks declining on the index.The broader indices were trading in red; the BSE Mid cap index was down by 0.34%, while Small cap index was down by 0.13%.

The CNX Nifty is currently shut down at 9045.20, down by 62.80 points or 0.69% after trading in a range of 9024.65 and 9094.85. There were 12 stocks advancing against 39 stocks declining on the index.

MARKET INDICATORS

·           

 

Top Movers (Group A)

 

 

Company

Cmp

% chg

Gainers

 

 

Finacables

493.70

5.99

Sintex

104.70

4.86

PNB

146.75

3.86

GVKPIIL

6.01

3.26

Losers

 

 

KEC

193.90

-7.00

NLCIndia

105.40

-4.09

JSWSteel

179.85

-3.75

IDEA

87.70

-3.47

INDEX PERFORMANCE

 

 

Index

Close

% Chg

Sensex

29,233.44

-0.64

Nifty

9,045.20

-0.69

Crporate Front:

India's finance minister ArunJaitley paved the way for landmark tax reforms on Monday, introducing four bills on the goods and services tax (GST) in the lower house of parliament. The legislation, which has broad support and is expected to pass parliament with ease, is part of the biggest tax reform thegovernment has undertaken since India's independence in 1947.

 

 

Macroeconomic front: State-run Indian Renewable Energy Development Agency (IREDA) has said that it will sanction Rs 13,000 crore for clean energy projects next fiscal in the country, vying for around 20 per cent of the loan market share.As per reports, with the government aiming at adding around 15 to 16 GW of clean energy projects, including solar and wind, there would be total credit market size of around Rs 65,000 crore.

On the global front:

On the global front, European markets were trading in red as investors adopted a cautious tone on the back of U.S. President Donald Trump's surprise failure to deliver swift health-care reform. Asian markets were also trading in red. Back home, in scrip specific development, Dr. Reddy's Laboratories traded higher after the company entered into an exclusive distribution agreement with Integra LifeSciences Holdings Corporation. Under the agreement, Dr. Reddy's will market and distribute DuraGen Plus and SuturableDuraGen Dural Regeneration Matrices for use in patients in India.

Commodity Updates:

Commodity Prices (MCX):

Commodity

Rs

% Chang

Gold

28905.00

0.39

Silver

41787.00

0.62

Crude oil

3108.00

-1.08

Natural Gas

203.10

1.4

Alluminium

124.95

-0.95

Copper

372.80

-2.09

Top Sectoral& Stock Screening:The sole gaining sectoral index on the BSE was Consumer Durables up by 0.43%, while Metal down by 2.69%, Energy down by 1.70%, Oil & Gas down by 1.03%, Telecom down by 0.95% and Basic Materials down by 0.95% were the losing indices on BSE.

Top Nifty Movers:The top gainers on Nifty were Bank of Baroda up by 1.98%, Indusind Bank up by 1.20%, SBI up by 1.10%, BHEL up by 0.72% and Dr. Reddy’s Lab up by 0.51%. On the flip side, Idea Cellular down by 3.41%, Tata Steel down by 3.27%, Hindalco down by 2.87%, Reliance Industries down by 2.82% and AurobindoPharma down by 2.49% were the top losers..

 

 

Global Signals:

Asian markets were trading mostly in red; Nikkei 225 decreased 276.94 points or 1.44% to 18,985.59, Hang Seng decreased 164.57 points or 0.68% to 24,193.70, Jakarta Composite decreased 31.76 points or 0.57% to 5,535.37, Taiwan Weighted decreased 26.21 points or 0.26% to 9,876.77, KOSPI Index decreased 13.29 points or 0.61% to 2,155.66 and Shanghai Composite decreased 2.49 points or 0.08% to 3,266.96. On the flip side, FTSE Bursa Malaysia KLCI increased 0.77 points or 0.04% to 1,746.52.

All European markets were trading in red; Germany’s DAX decreased 109.81 points or 0.91% to 11,954.46, UK’s FTSE 100 decreased 75.4 points or 1.03% to 7,261.42 and France’s CAC decreased 44.9 points or 0.89% to 4,976.00.

 

 

Global markets in correction mode as US indices turn south. Oil weakness, fall in bond yields and US Dollar softness adds to equity weakness.

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Indian Indices: Asian markets opened on a weak note with the Japanese 'Nikkei' down over 300 points as US Dollar weakness witnessed a stronger Yen. Oil weakness coupled with uncertainty on the health bill in the US saw profit booking in the US indices now turn ugly as stocks sold off further.


Nifty managed to hold 9100 by the skin of its teeth, which indicates the markets looking top heavy and susceptible to profit booking. Nifty will see Reliance hold the key as SEBI decision to ban derivative contracts for 1 year will have a sentiment negative, which however will be used by long term investors as an opportunity to buy Metals, Commodities and Energy stocks. The markets might see selling while Pharma and FMCG may see defensive buying for today. 


The BSE Sensex is currently trading at 29258.66, down by 162.74 points or 0.55% after trading in a range of 29247.56 and 29420.70. There were 7 stocks advancing against 23 stocks declining on the index.

The broader indices were trading mixed; the BSE Mid cap index was down by 0.13%, while Small cap index was up by 0.10%.

The CNX Nifty is currently trading at 9055.55, down by 52.45 points or 0.58% after trading in a range of 9047.95 and 9094.85. There were 11 stocks advancing against 40 stocks declining on the index.

MARKET INDICATORS

·           

 

Group ATopGainers

 

 

Company

Price (Rs)

% chg

Wabag

698.75

4.35

Fincables

483.00

3.69

GVKPIL

6.03

3.44

Gati

144.10

3.04

Group ATopLosers

 

 

KEC

195.35

-6.31

NLCINDIA

105.80

-3.73

Idea

87.65

-3.52

Tatacapital

480.00

-2.68

INDEX PERFORMANCE

 

 

Indices

Support

Resistanes

Sensex

29385

29585

Nifty

9090

9150

 

Technical view: Nifty will face resistance around 9133, which was Friday's high while 9030-9040 will act as resistance on the downside. Bank Nifty faces resistance around 21250 with 20800 acting as support as PSU banks continue to see buying on declines.


 

Federal Bank (Buy above 90, for Target of 96, Stop Loss at 87): After being stuck in a narrow trading range for past 3 weeks, the stock has broken out from an Ascending Triangle pattern on the daily chart. Federal Bank has maintained its higher lows and has finally surpassed its previous peak resuming its higher high cycle too. The breakout has also been accompanied with rise in volumes confirming the price outburst.

 

Derivative Snippets:

In the last trading session, Nifty ended on a lackluster note. Nifty Bank index surged higher as PSU Bank stocks shimmered. Huge short covering was seen in Nifty Bank 21000CE strike, indicating a likely close above 21000 level for Nifty Bank index in this F&O expiry series. Nifty ATM/OTM call/put option strikes were under selling pressure throughout the day.

FIIs were net buyers in cash market segment to the tune of Rs 543 crore.

FII’s index future long/short ratio at 3.5x.

Nifty Movers: The top gainers on Nifty were Bank of Baroda up by 1.24%, Infosys up by 0.85%, BhartiInfratel up by 0.60%, Power Grid up by 0.59% and SBI up by 0.45%.

On the flip side, Idea Cellular down by 3.14%, Reliance Industries down by 2.34%, Coal India down by 2.30%, Tata Steel down by 2.27% and Hindalco down by 1.90% were the top losers.

Top Sectoral& Stock Screening:  The gaining sectoral indices on the BSE were Consumer Durables up by 0.50%, IT up by 0.19% and TECK up by 0.07%, while Metal down by 1.62%, Energy down by 1.45%, Oil & Gas down by 0.86%, Telecom down by 0.71% and Healthcare down by 0.65% were the losing indices on BSE.

 

 

On the global front: On the global front, Asian shares were trading mostly in red, after US President Donald Trump suffered a legislative defeat last Friday when Republican leaders pulled a bill to overhaul the US health care system with the dollar weaker and gold prices up. The Bank of Korea (BOK) survey showed that South Korean manufacturers are expected to spend more on capital investment this year than they did last year, although those expenditures will be conservative and mostly geared towards maintaining facilities than expansion.

Global Signals:The Asian markets were trading mostly in red; Nikkei 225 decreased 282.42 points or 1.47% to 18,980.11, Hang Seng decreased 81.99 points or 0.34% to 24,276.28, Taiwan Weighted decreased 29.03 points or 0.29% to 9,873.95, Jakarta Composite decreased 19.88 points or 0.36% to 5,547.26 and KOSPI Index decreased 13.55 points or 0.62% to 2,155.40.

On the other hand, FTSE Bursa Malaysia KLCI increased 3.49 points or 0.2% to 1,749.24 and Shanghai Composite increased 4.69 points or 0.14% to 3,274.14.

 

US indices close flat as caution on health care policy implementation sees markets turn wary

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Indian Indices: Asian indices opened on a mixed to positive note as lower oil prices prompted buying in financials. With the US indices seeing profit booking with a weaker US Dollar, emerging markets in Asia will see inflows as investors chase higher returns. The Japanese 'Nikkei" could see more gains as positive data on manufacturing should see equities do well.

Nifty bounced sharply to close near 9100 as foreign investors bought aggressively. 


With oil prices headed lower and the Government actively looking to meet disinvestment targets, it should see the fiscal and current account deficit at the lowest in recent times. Dividend stripping in most cash rich PSU would be the order of the day as Government shores up its balance sheet before March 31.


The BSE Sensex is currently trading at 29469.38, up by 137.22 points or 0.47% after trading in a range of 29350.17 and 29500.19. There were 20 stocks advancing against 9 stocks declining, while 1 stock remained unchanged on the index.

The broader indices were trading in green; the BSE Mid cap index was up by 0.46%, while Small cap index was up by 0.74%.

The CNX Nifty is currently trading at 9065.35, up by 34.90 points or 0.39% after trading in a range of 9048.60 and 9076.35. There were 38 stocks advancing against 13 stocks declining on the index.

MARKET INDICATORS

·           

 

Group ATopGainers

 

 

Company

Price (Rs)

% chg

KEC

202.70

6.35

RECltd

174.60

4.86

Wabag

650.95

4.52

Bankbaroda

168.10

3.67

Group ATopLosers

 

 

Sadbhav

315.00

-2.01

Enginersin

146.40

-1.58

TVSMotor

426.05

-1.54

Eichermot

24217.10

-1.32

INDEX PERFORMANCE

 

 

Indices

Support

Resistanes

Sensex

29385

29585

Nifty

9090

9150

 

Technical view: Nifty will attempt 9119 and if crossed will see resistance around 9150, while 9070 will act as strong support on the downside. Bank Nifty was clearly a struggler with 20700 now acting as key support while 21200 will act as resistance on the upside.


 

Trading ideas: MPHASIS (Buy above 602, for Target of 630, Stop Loss at 587): Mphasis is in a higher top higher bottom formation on weekly charts since mid November 2016. Post the uptrend, the stock on daily charts consolidated for three weeks and has broken out from a continuation pattern. The breakout comes with decent uptick in volume too. We advise to Buy Mphasis above Rs 602, Stop Loss at Rs 587 and Target of Rs 630.

 

Derivative Snippets:

Nifty continue to hold the psychological support of 9000 in yesterday’s trading session. Short selling was witnessed throughout all the OTM Nifty put strikes. Nifty 9000PE adds ~7.3 lakh shares in open interest. Marginal hint of short covering was seen in Nifty 9100, 9200 call option strikes.

FIIs were net buyers in cash market segment to the tune of Rs 1094 crore.

FII’s index future long/short ratio at 3.5x vs 3.6x.


Nifty Movers: The top gainers on Nifty were Bank of Baroda up by 3.45%, ICICI Bank up by 3.03%, SBI up by 2.33%, GAIL India up by 1.33% and Yes Bank up by 1.13%.
On the flip side, BPCL down by 1.27%, Tech Mahindra down by 0.92%, Grasim Industries down by 0.78%, ONGC down by 0.70% and Zee Entertainment down by 0.60% were the top losers.

Top Sectoral& Stock Screening:  The top gainers on the Sensex were ICICI Bank up by 3.01%, SBI up by 2.33%, GAIL India up by 1.27%, Power Grid up by 0.98% and ITC up by 0.95%. On the flip side, ONGC down by 0.52%, TCS down by 0.32%, Maruti Suzuki down by 0.21%, Lupin down by 0.18% and Cipla down by 0.18% were the top losers.

 

 

 

On the global front: On the global front, Asian shares were trading mostly in red, as investors eyed US political developments on a healthcare bill that is seen as a litmus test of President Donald Trump’s ability to get ambitious tax and spending plans passed as well. Bank of Japan Governor Haruhiko Kuroda said there is no reason to withdraw the bank’s massive monetary stimulus now as inflation remains distant from its 2 percent target.

Global Signals:The Asian markets were trading mostly in red; Taiwan Weighted decreased 36.23 points or 0.36% to 9,894.51, Hang Seng decreased 33.67 points or 0.14% to 24,294.03, Jakarta Composite decreased 6.25 points or 0.11% to 5,557.51, KOSPI Index decreased 4.64 points or 0.21% to 2,168.08 and Shanghai Composite decreased 3.58 points or 0.11% to 3,244.97.

On the other hand, FTSE Bursa Malaysia KLCI increased 0.44 points or 0.03% to 1,747.44 and Nikkei 225 increased 159.36 points or 0.83% to 19,244.67.

 

US stocks sell off as Trump led rally sees signs of fatigue. Oil prices weaken, bond yields also decline

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Indian Indices: Asian indices saw big cuts with the Japanese 'Nikkei' falling over 300 points after the Dow Jones had its biggest fall since President Trump got elected. US Dollar weakness, coupled with sell off in Banks and Energy saw the Brazilian 'Bovespa' index lead the losers with a fall of over 3%.


Nifty will also see opening below 9100 as foreign flows start to ebb even as domestic funds book profit aggressively. Bank stocks witnessed selling with Pharma being the big party pooper as Dr Reddy hit nearly 3 year lows after strong FDA observations. For today expect the euphoria over the 100% return in the new IPO to die down as the near term overbought market sees correction.   


The BSE Sensex is currently trading at 29236.90, down by 248.55 points or 0.84% after trading in a range of 29219.59 and 29341.41. There were 2 stocks advancing against 28 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index was down by 1.07%, while Small cap index was down by 0.63%.

The CNX Nifty is currently trading at 9042.95, down by 78.55 points or 0.86% after trading in a range of 9036.15 and 9072.90. There were 4 stocks advancing against 46 stocks declining, while 1 stock remained unchanged on the index.

MARKET INDICATORS

·           

 

Group ATopGainers

 

 

Company

Price (Rs)

% chg

Deltacorp

180.35

6.62

Sobha

337.80

6.38

NLINDIA

116.15

4.69

GMDCLTD

118.20

4.38

Group ATopLosers

 

 

RTNPower

7.63

-3.54

BEL

154.00

-3.39

Titan

448.25

-3.33

IIFL

375.90

-3.19

INDEX PERFORMANCE

 

 

Indices

Support

Resistanes

Sensex

29385

29585

Nifty

9090

9150

 

Technical view: Nifty did see a breach of 9119 intraday and that will today act as initial resistance on the upside while 9050 should act as strong support. Bank Nifty also broke the swing bottom of 21042, which will now act as resistance on the upside while 20850 will act as support.


 

Trading ideas :RECLTD (Buy above 167.5, for Target of 172, Stop Loss at 165.5): Stock last week broke out from a rising trend line on daily charts connecting previous two peaks. Stock couldn't convert the breakout with follow up buying and instead retested the trend line on the daily charts. In yesterday's trade REC witnessed smart recovery in second half with increase in traded volumes. This accentuates our bullish stance on the stock. We advise to Buy REC above Rs 167.5, Stop Loss at Rs 165.5 and Target of Rs 172.


Derivative Snippets: Nifty remains resilient as support level of 9100 holds for the 4 thday in a row. Index ATM/OTM call and put option strikes continue to remain under selling pressure as a long weekend before the March F&O nears.

D-Mart shimmered all day along, posting 117% gains on debut.

FIIs were net buyers in cash market segment to the tune of Rs 1663 crore.

FII’s index future long/short ratio at 3.3x.

Nifty Movers: The top gainers on Nifty were Axis Bank up by 1.72%, HCL Technologies up by 0.67%, Idea Cellular up by 0.11% and Power Grid up by 0.10%.

On the flip side, Hindalco down by 2.95%, BhartiAirtel down by 2.60%, BHEL down by 2.49%, Tata Motors down by 1.94% and Ultratech Cement down by 1.92% were the top losers.

Top Sectoral& Stock Screening:  The losing sectoral indices on the BSE were Metal down by 1.71%, Consumer Durables down by 1.65%, Telecom down by 1.59%, Basic Materials down by 1.32% and Auto down by 1.29%, while there were no gainers.

The top gainers on the Sensex were Axis Bank up by 1.68% and Power Grid up by 0.05%.

 

 

 On the global front: On the global front, Asian shares were trading in red, as growing doubts about US President Donald Trump’s economic growth agenda prompted investors to dump risky assets and to rush to safe havens such as gold and government bonds.

 

Global Signals:The Asian markets were trading in red; Nikkei 225 decreased 366.24 points or 1.88% to 19,089.64, Hang Seng decreased 355.79 points or 1.45% to 24,237.33, Taiwan Weighted decreased 68.68 points or 0.69% to 9,903.81, Jakarta Composite decreased 30.07 points or 0.54% to 5,513.03, Shanghai Composite decreased 25 points or 0.77% to 3,236.61, FTSE Bursa Malaysia KLCI decreased 15.08 points or 0.86% to 1,739.59 and KOSPI Index decreased 12.21 points or 0.56% to 2,166.17.

 

Global markets in consolidation mode as oil weakness hurts energy stocks, even as Japanese yen strengthens against the US Dollar.

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Indian Indices: Asian indices opened flat with the Japanese 'Nikkei' losing over 130 points as Yen strengthens. With drop in oil prices, exporters face the brunt as energy stocks decline. Consolidation for this week could be the theme as markets digest the recent gains.


Nifty faced selling pressure from opening bell and closed below the 9150 mark as domestic profit booking was the order of the day. With a big IPO listing today expect market focus on stock/sector to continue as indices may remain range bound. For today expect IT, Auto and Metals to be under pressure with FMCG and Pharma stocks witnessing buying,


The BSE Sensex is currently trading at 29483.12, down by 35.62 points or 0.12% after trading in a range of 29458.03 and 29585.05. There were 12 stocks advancing against 18 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index was down by 0.58%, while Small cap index was down by 0.27%.

The CNX Nifty is currently trading at 9116.90, down by 9.95 points or 0.11% after trading in a range of 9107.90 and 9147.75. There were 20 stocks advancing against 31 stocks declining on the index.

MARKET INDICATORS

·           

 

Group ATopGainers

 

 

Company

Price (Rs)

% chg

NLCIndia

104.10

7.57

JKlakshmi

455.00

5.72

Cox & Kings

207.95

2.51

Repcohome

689.00

2.02

Group ATopLosers

 

 

Divislab

650.00

-17.79

Idea

90.75

-7.02

Drreddy

2630.

-4.10

Axisbank

489.50

-2.94

INDEX PERFORMANCE

 

 

Indices

Support

Resistanes

Sensex

29559

29780

Nifty

9130

9205

 

Technical view: Nifty finds strong support around 9080 with 9218 acting as resistance on the upside. Bank Nifty also faces resistance @ 21350 on the upside with 21042 acting as first support, followed by 20850 on the downside.


 

Trading ideas :BFUTILITIE (Buy above 417, for Target of 435, SL at 407): Stock has broken out of a symmetrical triangle pattern on daily charts. The breakout is witnessed post the stock making a good base with spurt in volumes. Oscillators indicate strength in the current momentum to continue. We advise to Buy BF Utilities above Rs 417, Stop Loss at Rs 407 and Target of Rs 435.


Derivative Snippets: Markets consolidate and trade with a negative bias in the last trading session. Index ATM/OTM call and put option strikes were under selling pressure as markets traded in a narrow range throughout the day.

Idea 90PE(March 30 Expiry) saw a huge build-up of long positions with rising implied volatility, indicating a continued selling pressure throughout this F&O series.

FIIs were net buyers in cash market segment to the tune of Rs 57 crore.

FII’s index future long/short ratio at 3.3x vs 3.1x.

Nifty Movers: The top gainers on Nifty were Idea Cellular up by 3.33%, Grasim Industries up by 1.74%, BhartiInfratel up by 1.42%, HCL Tech up by 1.40% and Tech Mahindra was up by 0.84%. On the flip side, Infosys down by 1.99%, ICICI Bank down by 1.94%, Axis Bank down by 1.42%, TCS down by 1.29% and Tata Steel was down by 1.28% were the top losers.

Top Sectoral& Stock Screening:  The top gainers on the Sensex were Lupin up by 0.84%, Adani Ports &Special up by 0.74%, Cipla up by 0.59%, ONGC up by 0.58% and Hero MotoCorp was up by 0.44%. On the flip side, ICICI Bank down by 1.96%, Infosys down by 1.92%, Axis Bank down by 1.40%, TCS down by 1.27% and Tata Steel was down by 1.19% were the top losers.

 

 

 

On the global front: On the global front, Asian shares were trading mostly in green, while the dollar and US bond yields were on the back foot on the prospect of a less-hawkish Federal Reserve policy trajectory. Japan’s Nikkei was trading in red weighed by financial stocks, which were hurt by lower US yields and exporter stocks, which fell on the yen’s gains against the dollar.

 

Global Signals:The Asian markets were trading mostly in green; FTSE Bursa Malaysia KLCI increased 3.36 points or 0.19% to 1,752.77, Shanghai Composite increased 8.08 points or 0.25% to 3,258.88, Jakarta Composite increased 12.44 points or 0.22% to 5,546.43, KOSPI Index increased 21.73 points or 1.01% to 2,178.74, Taiwan Weighted increased 49.58 points or 0.5% to 9,962.55 and Hang Seng increased 50.74 points or 0.21% to 24,552.73.On the other hand, Nikkei 225 decreased 67.29 points or 0.34% to 19,454.30.

 

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