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SENSEX ENDS AT RECORD HIGH NIFTY CLOSES ABOVE 10K FOR FIRST TIME EVER

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Indian Indices: Indian equity benchmarks traded range-bound in late afternoon session, with Nifty trading around 10,000 mark. Buying in Metal, Realty and Energy stocks along with better earnings result, kept the markets up. Sentiments remained upbeat with report that the government approved an addition of 7.47 lakh new registration applications under the Goods and Services Tax (GST) regime. 

Besides, the report stating that a team of officers, led by the commerce secretary, is holding detailed consultations with states to clear the bottlenecks that are hampering exports, also added some optimism. 

However, traders remained on sidelines ahead of the July derivatives contract expiry tomorrow and the outcome from the Federal Reserve meet later in the day.Gangwar further said that the GST would positively impact the country’s business environment and help the domestic sectors become more competitive.The Minister of State for Finance also said that following the GST implementation, the government will soon come up with an anti-profiteering authority which will help to ensure the benefit of tax reduction is passed on to consumers.

The BSE Sensex is currently closed at 32,382.46 up by 154.19 points or 0.48% after trading in a range of 32226.08 and 32413.63. There were 24 stocks advancing against 7 stocks declining on the index.The broader indices were trading in green; the BSE Mid cap index was up by 0.17%, while Small cap index was up by 0.34%.

The CNX Nifty is currently shut up at 10020, up by 56.10 points or 0.56% after trading in a range of 9965.95 and 10010.80.

MARKET INDICATORS

·           

 

Top Movers (Group A)

 

 

Company

Cmp

% chg

Gainers

 

 

Get&D

392.90

19.99

Sparc

359.85

9.18

Jindalstel

151.55

8.37

MMTC

61.60

6.39

Losers

 

 

Renuka

20.29

-6.45

Lakshvilas

183.35

-6.02

Sreinfra

124.30

-3.42

Orientbank

151.60

-3.35

INDEX PERFORANCE

 

 

Index

Close

% Chg

Sensex

32,382.46

0.48

Nifty

10,020.65

0.56

 

Crporate Front:The Goa Government has said that the first phase of Goa's upcoming Mopa international airport will be operational by May 2020. Commenting on the issue, Chief Minister ManoharParrikar told the media, "GMR Goa International Airport Limited (GGIAL) has already started pre-construction work and, as per concession agreement.


 

Macroeconomic front: Leading bourse Bombay Stock Exchange said that it has joined hands with Egyptian Exchange (EGX) for cooperation in exchange of information across business areas. In a statement, EGX Executive Chairman Mohamed Omran said that the exchange aims to cross list and trade securities that would provide new investment alternatives to investors in both markets.

On the global front: On the global front, European markets were trading in green as investors geared up for a rate decision from the US Federal Reserve and continued to digest earnings reports. Asian markets were also trading in green. Back home, in scrip specific development, Indraprastha Gas (IGL) gained after the company revised the selling prices of Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) in NCT of Delhi, Noida, Greater Noida and Ghaziabad. This step has been taken by the company in order to offset the overall impact on its costs after transition to GST regime.


Commodity Updates:

Commodity Prices (MCX):

Commodity

Rs

% Chang

Gold

28333.00

-0.51

Silver

37984.00

-0.8

Crude oil

3117.00

0.87

Natural Gas

189.70

0.05

Alluminium

123.85

-0.08

Copper

407.50

0.37

Top Sectoral& Stock Screening:The top gaining sectoral indices on the BSE were Metal up by 1.69%, Realty up by 0.92%, Energy up by 0.78%, Utilities up by 0.77% and Healthcare up by 0.66%, while Telecom down by 0.51%, TECK down by 0.47% and IT down by 0.30% were the losing indices on BSE.

Top Nifty Movers:The top gainers on Nifty were Vedanta up by 2.75%, Tata Steel up by 2.56%, Sun Pharma up by 2.13%, IndusInd Bank up by 2.10% and Eicher Motors up by 1.96%. On the flip side, Axis Bank down by 3.03%, Asian Paints down by 1.75%, Zee Entertainment down by 1.60%, ACC down by 1.47% and HCL Tech. down by 1.23% were the top losers.

 

Global Signals:

Asian markets were trading mostly in green; FTSE Bursa Malaysia KLCI increased 1.36 points or 0.08% to 1,764.70, Shanghai Composite increased 3.99 points or 0.12% to 3,247.68, Hang Seng increased 88.97 points or 0.33% to 26,941.02 and Nikkei 225 increased 94.96 points or 0.48% to 20,050.16. On the flip side, Taiwan Weighted decreased 44.04 points or 0.42% to 10,419.11, Jakarta Composite decreased 22.6 points or 0.39% to 5,790.93 and KOSPI Index decreased 5.39 points or 0.22% to 2,434.51.

All European markets were trading in green; France’s CAC increased 35.27 points or 0.68% to 5,196.35, UK’s FTSE 100 increased 46.83 points or 0.63% to 7,481.65 and Germany’s DAX increased 49.01 points or 0.4% to 12,313.32.

 

 

US Dollar rallies from oversold territory as oil advances along with bond yields. S&P index hits fresh all time highs as markets bounce back after 3 days consolidation.

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Indian Indices: Asian indices opened firm with the Japanese 'Nikkei' leading gains as US Dollar strength bode well for the Japanese Yen and exporters. Oil rally witnessed gains across the board for energy stocks as markets globally rebound after consolidation.


Nifty hit 10000 and saw profit booking as markets digested an important milestone. Sentiment seems upbeat as Rupee, bonds and earnings till now all seem in consensus with flows being the main driver for stock prices. For today expect positive opening followed by a volatile session as expiry of derivative contracts tomorrow puts pressure on rollovers.


The BSE Sensex is currently trading at 32319.22, up by 90.95 points or 0.28% after trading in a range of 32226.08 and 32320.01. There were 20 stocks advancing against 11 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index was up by 0.54%, while Small cap index was up by 0.80%.

The CNX Nifty is currently trading at 9992.50, up by 27.95 points or 0.28% after trading in a range of 9965.95 and 9993.45. There were 31 stocks advancing against 20 stocks declining on the index.

MARKET INDICATORS

·           

 

Group ATopGainers

 

 

Company

Price (Rs)

% chg

Get&D

392.90

19.99

Sparc

354.40

7.52

JPAssociat

28.70

6.69

Jindalstel

146.85

5.01

Group ATopLosers

 

 

Lakshvilas

189.20

-3.02

Pidilitind

802.95

-3.01

Idea

95.30

-2.56

Axisbank

533.15

-2.11

INDEX PERFORMANCE

 

 

Indices

Support

Resistanes

Sensex

32225

32535

Nifty

9950

10045

 

 

Technical view: Nifty finds support around 9930 while 10000 will act as initial resistance on the upside. Bank Nifty also finds resistance at 24650 while 24250 will act as strong support.


 

 

Union Bank of India (UNIONBANK) (Buy Above 161.25 with Stop Loss at 158 for Target of 167): After consolidating for over nine weeks, the stock has given a breakout on daily chart.  The price breakout has been accompanied with smart uptick in volumes. Other oscillators also indicate that the current momentum is here to stay. We expect UNIONBANK to carry forward the momentum and rally towards the 167 levels in the near term.


EconomicSnippets      

The inter-ministerial group (IMG) set up to address the financial stress in the telecom sector has prepared a draft report recommending steps to benefit the industry.

India's edible oil imports are set to fall for the first time in six years as a surge in local oilseed output cuts into overseas purchases, but intake needs to fall further to fortify the health of the market, the head of a leading importer said.


Unichem Laboratories has received approval from the US health regulator for losartan potassium and hydrochlorothiazide tablets, used in the treatment of hypertension and reduction in risk of strokes in patients with hypertension. (HBL)


 Piramal Financesaid it has sanctioned Rs 400 crore through its vertical - Emerging Corporate Lending (ECL) to fund emerging and mid-market businesses.


 

Nifty Movers: The top gainers on Nifty were GAIL India up by 2.91%, Vedanta up by 2.81%, Tata Steel up by 2.08%, Eicher Motors up by 1.69% and Reliance Industries up by 1.64%. On the flip side, Zee Entertainment down by 1.98%, Axis Bank down by 1.80%, Asian Paints down by 1.75%, BhartiInfratel down by 1.46% and ACC down by 1.14% were the top losers.

Top Sectoral& Stock Screening:The top gaining sectoral indices on the BSE were Metal up by 1.71%, Realty up by 1.55%, Utilities up by 1.19%, Energy up by 1.01% and Oil & Gas up by 0.86%, while Telecom down by 0.54%, TECK down by 0.36% and IT down by 0.16% were the only losing indices on BSE.

 

 

 

On the global front: On the global front, Asian markets were trading mostly in red, as investors awaited the Federal Reserve’s policy decision later in the day for more clues on its tightening plans. China’s securities regulator said that it will regulate and expand access to capital markets for all types of investors, while also encouraging more long-term institutional participation.

Global Signals:The Asian markets were trading mostly in red; Taiwan Weighted decreased 41.13 points or 0.39% to 10,422.02, KOSPI Index decreased 8.14 points or 0.33% to 2,431.76, Shanghai Composite decreased 6.86 points or 0.21% to 3,236.83 and FTSE Bursa Malaysia KLCI decreased 0.42 points or 0.02% to 1,762.92.On the other hand, Jakarta Composite increased 6.99 points or 0.12% to 5,820.52, Hang Seng increased 43.5 points or 0.16% to 26,895.55 and Nikkei 225 increased 90.56 points or 0.45% to 20,045.76.

 


Markets consolidate ahead of earnings as liquidity reigns supreme with all falls being bought. US Dollar sees pullback with oil also regaining lost ground while bond yields climb higher.

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Indian Indices: Asian indices opened on a mixed note with most indices trading marginally in the green as the US Dollar saw a smart pullback which saw the Japanese Yen weaken. This week expect more earning related plays as global investors rotate market in the emerging market basket with China seeing strong inflows in the last month.


Nifty came within striking distance of 10000 as Reliance, ITC and HDFC Bank saw strong buying lift the index to near 5 digit levels. Metals and Pharma stocks saw profit booking while Banks, FMCG and Energy stocks led the Nifty higher. For today expect mid-caps will continue to witness more action as large caps take a breather at 10000. 


The BSE Sensex is currently trading at 32266.69, up by 20.82 points or 0.06% after trading in a range of 32209.68 and 32374.30. There were 13 stocks advancing against 18 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index was up by 0.33%, while Small cap index was up by 0.05%.

The CNX Nifty is currently trading at 9969.20, up by 2.80 points or 0.03% after trading in a range of 9954.70 and 10011.30. There were 20 stocks advancing against 31 stocks declining on the index.

MARKET INDICATORS

·           

 

Group ATopGainers

 

 

Company

Price (Rs)

% chg

Renuka

21.13

8.75

ABFRL

181.70

4.46

IDEA

96.20

4.74

Tatacomm

675.00

4.23

Group ATopLosers

 

 

Fconsumer

42.35

-4.19

Strtech

223.10

-3.67

Videoind

25.20

-3.08

J&KBank

87.90

-2.98

INDEX PERFORMANCE

 

 

Indices

Support

Resistanes

Sensex

32225

32535

Nifty

9950

10045

 

Technical view: Nifty finds strong support around 9900 while 10000 will act as resistance on the upside. Bank Nifty also finds strong support around 24200 while 24550 will act as resistance on the upside.


 

MCX (Buy Above 1166 with Stop Loss at 1126 for Target of 1245): After consolidating for over ten months, the stock has finally given a breakout from a Declining Channel on daily as well as weekly charts. The price breakout has been accompanied with smart uptick in volumes. Other oscillators also indicate that the current momentum is here to stay. We expect MCX to carry forward the momentum and rally towards the Rs 1245 levels in the near term.


EconomicSnippets      

The IMF said global gross domestic product would grow 3.5% in 2017 and 3.6% in 2018, unchanged from estimates issued in April. (ET)


Finance Minister ArunJaitley introduced a bill in LokSabha to amend the Banking Regulation Act 1949.

Godrej Consumer Products foray into the Rs 1,200 crore-professional hair care segment and aims to capture at least 10% of market share in the next two and a half years. (ET)

IndiGoand Jet Airways have introduced additional flights to Doha and Mumbai on a daily basis from Calicut International airport. (Livemint).


Nifty Movers: The top gainers on Nifty were Indiabulls Housing up by 2.54%, BhartiInfratel up by 2.36%, Vedanta up by 1.78%, Hero MotoCorp up by 1.42% and TCS up by 0.88%.
On the flip side, Zee Entertainment down by 1.78%, HCL Tech down by 1.74%, Tata Motors down by 1.51%, Eicher Motors down by 1.50% and Tata Motors - DVR down by 1.02% were the top losers.

Top Sectoral& Stock Screening:The top gaining sectoral indices on the BSE were Telecom up by 1.50%, Metal up by 0.46%, Bankex up by 0.40%, Basic Materials up by 0.37% and TECK up by 0.33%, while Capital Goods down by 0.48%, Industrials down by 0.41%, Energy down by 0.29%, Oil & Gas down by 0.22% and FMCG down by 0.20% were the top losing indices on BSE.

 

 

On the global front: On the global front, Asian markets were trading mostly in red. China’s economy is likely to grow at an annual rate of around 6.7 percent in the second half of 2017, slowing slightly from the first half of the year, the State Information Center (SIC) said. It forecast full-year growth in the world’s second largest economy of around 6.8 percent.

Global Signals:The Asian markets were trading mostly in red; Jakarta Composite decreased 14.83 points or 0.26% to 5,786.75, Nikkei 225 decreased 10.47 points or 0.05% to 19,965.20, Hang Seng decreased 10 points or 0.04% to 26,836.83, Shanghai Composite decreased 5.16 points or 0.16% to 3,245.44, KOSPI Index decreased 2.62 points or 0.11% to 2,448.91 and Taiwan Weighted decreased 0.49 points to 10,460.79.On the other hand, FTSE Bursa Malaysia KLCI increased 0.5 points or 0.03% to 1,762.49.

 

SENSEX CLOSES 124 PTS HIGHER, NIFTY HOLDS 9900 BUT MIDCAP UNDERPERFORMS

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Indian Indices: Indian equity benchmarks traded flat in late afternoon session, as anxiety spread among the investors with Asian Development Bank's (ADB) statement that the goods and services tax is expected to boost growth in the medium term, however there may be some teething pains as firms adjust to the new system. Besides, Finance Minister ArunJaitley said that the government is considering to change the country's financial year to January-December from April-March. Meanwhile, index heavyweight BhartiAirtel fell over 2% after MukeshAmbani launched Jio Phone in RIL's 40th AGM while Idea Cellular also tumbled. 

 However, the markets erased their most of losses in noon deals with taking support from the private report that strong import growth in June points to continued recovery in India's domestic demand and also indicating that economic expansion will accelerate from the April-June quarter. Besides, investors' sentiments were buoyed by earnings results. Meanwhile, foreign investment in Indian real estate sector jumped more than two-fold at $7.6 billion during 2014-16 period compared with the previous three years.

The BSE Sensex is currently trading at 31891.78, down by 12.62 points or 0.04% after trading in a range of 31808.93 and 32062.23. There were 12 stocks advancing against 19 stocks declining on the index.The broader indices were trading in red; the BSE Mid cap index was down by 0.21%, while Small cap index was down by 0.31%.

The CNX Nifty is currently trading at 9867.50, down by 5.80 points or 0.06% after trading in a range of 9838.00 and 9919.85. There were 21 stocks advancing against 30 stocks declining on the index.

MARKET INDICATORS

·           

 

Top Movers (Group A)

 

 

Company

Cmp

% chg

Gainers

 

 

Renuka

19.30

16.83

JPAssociat

26.60

15.40

Fretail

436.40

10.75

Stertech

222.15

7.45

Losers

 

 

Dishtv

78.00

-5.85

DHFL

458.45

-3.80

Atul

2298.60

-3.78

Suntv

798.80

-3.50

INDEX PERFORANCE

 

 

Index

Close

% Chg

Sensex

32028.89

0.39

Nifty

9915.25

0.42

 

Crporate Front: The Cabinet approved the 'Modified Implementation Strategy' of BharatNet project for providing broadband connectivity to all gram panchayats by March 2019, according to an official source as per PTI report. "The Cabinet has approved the modified implementation Strategy of BharatNet towards realisation of vision of digital India," the media report said quoting the source.


 

Macroeconomic front: Finance Minister ArunJaitley on Friday told lawmakers that the government is considering to change the country's financial year to January-December from April-March. "The matter of changing financial year is under consideration," Jaitley told lawmakers in a written reply to the lower house of parliament.

 

On the global front: On the global front, European markets were trading in green, supported by a surge in global stocks, as investors awaited a rate decision by the European Central Bank (ECB). Asian markets were also trading in green. Back home, in scrip specific development, ABB India jumped higher after the company reported 13% orders growth in Q2FY18 and 20% orders growth in H1 ending June 30, 2017.


Commodity Updates:

Commodity Prices (MCX):

Commodity

Rs

% Chang

Gold

28353.00

0.08

Silver

37937.00

0.15

Crude oil

3039.00

0.07

Natural Gas

194.30

-1.22

Alluminium

122.95

0.53

Copper

390.85

0.93

Top Sectoral& Stock Screening:The top gaining sectoral indices on the BSE were Energy up by 1.49%, IT up by 1.19%, Consumer Durables up by 0.71%, TECK up by 0.60% and Oil & Gas up by 0.29%, while Telecom down by 1.89%, Realty down by 1.44%, Metal down by 0.98%, Power down by 0.94% and Capital Goods down by 0.86% were the top losing indices on BSE.

Top Nifty Movers:The top gainers on Nifty were Wipro up by 6.78%, Reliance Industries up by 2.95%, HCL Tech. up by 1.93%, Coal India up by 1.63% and Zee Entertainment up by 1.20%. On the flip side, BhartiAirtel down by 3.03%, Lupin down by 2.28%, Indiabulls Housing Finance down by 2.17%, Vedanta down by 1.76% and NTPC down by 1.57% were the top losers.

 

Global Signals:

Asian markets were trading mostly in red; Taiwan Weighted decreased 62.66 points or 0.6% to 10,436.70, Jakarta Composite decreased 51.36 points or 0.88% to 5,773.85, Nikkei 225 decreased 44.84 points or 0.22% to 20,099.75, Hang Seng decreased 34.12 points or 0.13% to 26,706.09 and Shanghai Composite decreased 6.88 points or 0.21% to 3,237.98. On the flip side, FTSE Bursa Malaysia KLCI increased 1.51 points or 0.09% to 1,757.14 and KOSPI Index increased 8.22 points or 0.34% to 2,450.06.

All European markets were trading in green; France’s CAC increased 4.31 points or 0.08% to 5,203.53, UK’s FTSE 100 increased 13.48 points or 0.18% to 7,501.35 and Germany’s DAX increased 15.96 points or 0.13% to 12,463.21.

 

 

Euro hits 23 month high versus US Dollar while VIX (volatility index) sinks to recent lows as markets resilient against most political news. Oil retraces recent gains while Gold sees protection buying as yields fall on US treasuries.

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Indian Indices: Asian indices opened flat to marginally weak as US indices closed flat after digesting most political news. With weekend blues ahead expect a range bound day today with currency related plays in stocks/sector.


Nifty saw selling above 9900 for another session as profit booking by local funds dominated proceedings. Mid-cap stocks and the broader market saw selling while large caps saw selective buying in private banks. For today expect 9900 to be the fulcrum point with selling above and buying below in tranches as weekend blues keeps market range bound. 


The BSE Sensex is currently trading at 32037.23, up by 132.83 points or 0.42% after trading in a range of 31931.34 and 32062.23. There were 16 stocks advancing against 15 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index was up by 0.19%, while Small cap index was up by 0.31%.

The CNX Nifty is currently trading at 9911.35, up by 38.05 points or 0.39% after trading in a range of 9878.80 and 9919.85. There were 27 stocks advancing against 24 stocks declining on the index.

MARKET INDICATORS

·           

 

Group ATopGainers

 

 

Company

Price (Rs)

% chg

Strtech

241.70

16.90

JPassociat

25.05

8.68

Wipro

286.85

6.64

IFCI

27.75

5.92

Group ATopLosers

 

 

Appltd

540.55

-3.14

Lupin

1140.00

-2.23

Jublfood

1268.80

-2.27

Bhartiartl

410.90

-2.11

INDEX PERFORMANCE

 

 

Indices

Support

Resistanes

Sensex

31825

32135

Nifty

9850

9945

 

Technical view: Nifty finds strong support around 9850 while 9935 will act as resistance on the upside. Bank Nifty finds strong support around 24000 while 24350 will act as resistance on the upside.


 

Liberty Shoes (Buy Above 207 with Stop Loss at 202 for Target of 215): The stock has been consolidating for over twelve weeks and has finally had broken out from a consolidation phase on the daily as well as the weekly charts. The price outburst has been accompanied with smart uptick in volumes. Other oscillators also indicate that the current momentum is here to stay.


EconomicSnippets      

The Cabinet cleared a 15% hike in salaries for public sector company employees. (ET)


India is expected to achieve the projected growth rate of 7.4 per cent in 2017 and further up 7.6 per cent next year on strong consumption demand, with South Asia leading the growth chart in Asia and the Pacific, an ADB supplement report said.


The RBI will submit a fresh proposal to the government for introducing a new liquidity management tool as it grapples with strong foreign inflows. (BS)


China intends to unilaterally change the status of the tri-junction with Bhutan, which poses a challenge to India's security, External Affairs Minister SushmaSwaraj said.


Nifty Movers: The top gainers on Nifty were Wipro up by 7.11%, Reliance Industries up by 3.28%, Coal India up by 2.23%, HCL Tech up by 1.82% and Zee Entertainment up by 1.33%.  On the flip side, Lupin down by 2.53%, BhartiAirtel down by 2.04%, Cipla down by 1.54%, Power Grid down by 1.01% and Indiabulls Housing down by 0.99% were the top losers.

 

Top Sectoral& Stock Screening:The top gaining sectoral indices on the BSE were Energy up by 1.96%, IT up by 1.51%, TECK up by 1.12%, Oil & Gas up by 0.90% and Consumer Durables up by 0.86%, while Telecom down by 0.83%, Realty down by 0.42%, Healthcare down by 0.37%, Power down by 0.12% and Metal down by 0.05% were the top losing indices on BSE.

 

 

On the global front: On the global front, Asian shares were trading mostly in red, taking a breather from recent climbs. Hong Kong’s Hang Seng Index was down, with shares still hovering near highs not seen in two years. The market opened on an upbeat note Friday but retreated shortly after on profit taking. Hong Kong has risen for the last nine days.

Global Signals:The Asian markets were trading mostly in red; Taiwan Weighted decreased 52.08 points or 0.5% to 10,447.28, Nikkei 225 decreased 35.73 points or 0.18% to 20,108.86, Hang Seng decreased 34.43 points or 0.13% to 26,705.78, Jakarta Composite decreased 31.64 points or 0.54% to 5,793.57, Shanghai Composite decreased 6.7 points or 0.21% to 3,238.17 and FTSE Bursa Malaysia KLCI decreased 2.06 points or 0.12% to 1,753.57.On the other hand, KOSPI Index increased 4.22 points or 0.17% to 2,446.06.

 

US indices rally for another day even as Trump reforms seem untenable till 2018. Globally equity rally seems unstoppable with all negative news being ignored as power of liquidity buys every fall.

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Indian Indices: Asian indices opened in the green as overnight most US indices hit new highs with the power of liquidity ignoring all negative news. The market will watch for monetary policy action from the BOJ(Bank of Japan) & the ECB today which will indicate the way forward for equities & fixed income.


Nifty recovered most of the losses of Tuesday with a smart pullback which took the Nifty back to 9900.Bank Nifty hit new highs as financials, metals &Pharma powered the Nifty back with gusto. For today new highs on the Nifty are on the cards with stock specific action as results season plays out with heavyweights Reliance, Kotak Bank & Bajaj Auto declaring results today.


The BSE Sensex is currently trading at 31974.67, up by 19.32 points or 0.06% after trading in a range of 31928.01 and 32057.12. There were 13 stocks advancing against 18 stocks declining on the index. The broader indices were trading mixed; the BSE Mid cap index was down by 0.12%, while Small cap index was up by 0.27%.

The CNX Nifty is currently trading at 9897.10, down by 2.50 points or 0.03% after trading in a range of 9888.55 and 9922.55. There were 20 stocks advancing against 31 stocks declining on the index..

MARKET INDICATORS

·           

 

Group ATopGainers

 

 

Company

Price (Rs)

% chg

Strtech

194.20

12.71

Justdial

386.15

8.94

Renuka

16.33

8.79

GPPL

147.85

3.36

Group ATopLosers

 

 

Canbk

353.90

-4.61

Videoind

24.85

-4.97

Wabag

641.40

-4.26

MRPL

126.65

-3.14

INDEX PERFORMANCE

 

 

Indices

Support

Resistanes

Sensex

31680

31950

Nifty

9765

9850

 

Technical view: Nifty finds support around 9850 which was the resistance yesterday while 9930 will act as resistance on the upside. Bank Nifty now finds strong support around 24000 while 24350 will act as resistance on the upside.


 

Britannia (Buy Above 3810 with SL at 3750 for Target of 3930): It is a solid trending stock and after consolidating for over four months Britannia has broken out from an Ascending Triangle pattern on the daily charts. The breakout has been accompanied with credible uptick in traded volumes. The stock has also convincingly bounced from its 21-DMA which further accentuates our bullish stance on the stock.


EconomicSnippets      

CBEC Chairperson VanajaSarna has said that the government has taken a corrective measure and compensation cess hike will not result in rise in cigarette prices.

Import of coking coal from Canada is likely to rise in future keeping pace with the increase in steelmaking capacity in India, the Steel Ministry said in a statement.  

The parliamentary panel on finance is likely to finalise its report on demonetisation of high value currency notes on July 20.

The government may impose anti- dumping duty of up to USD 266 per tonne on a certain type of rubber, used in items like footwear and conveyor belts, from EU, Korea and Thailand.


Nifty Movers:  The top gainers on Nifty were Axis Bank up by 2.92%, ONGC up by 2.33%, Ambuja Cement up by 2.04%, Kotak Mahindra Bank up by 1.62% and Coal India up by 1.20%. On the flip side, Tata Steel down by 1.86%, BhartiInfratel down by 1.22%, Hero MotoCorp down by 1.10%, Infosys down by 1.06% and Asian Paints down by 1.04% were the top losers.

Top Sectoral& Stock Screening:The top gaining sectoral indices on the BSE were Realty up by 0.62%, Bankex up by 0.56%, Energy up by 0.30%, Capital Goods up by 0.29% and Power up by 0.21%, while IT down by 0.56%, Metal down by 0.45%, TECK down by 0.42%, Auto down by 0.32% and Healthcare down by 0.21% were the top losing indices on BSE.

 

 

On the global front:On the global front, Asian shares were trading mostly in green. The Bank of Japan kept monetary policy steady and pushed back again the timing for achieving its 2 percent inflation target, reinforcing expectations it will lag well behind major global central banks in dialing back its massive stimulus programme.

Global Signals:The Asian markets were trading mostly in green; Shanghai Composite increased 7.09 points or 0.22% to 3,238.07, KOSPI Index increased 7.21 points or 0.3% to 2,437.15, Jakarta Composite increased 9.29 points or 0.16% to 5,815.98, Hang Seng increased 67.04 points or 0.25% to 26,739.20 and Nikkei 225 increased 123.54 points or 0.62% to 20,144.40. On the other hand, Taiwan Weighted decreased 9.6 points or 0.09% to 10,496.50 and FTSE Bursa Malaysia KLCI decreased 2 points or 0.11% to 1,755.27.

 

Hindustan Unilever Research report exclusively prepared by Sharetipsinfo

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Company Overview:

Hindustan Unilever Limited (HUL) is India's largest Fast Moving Consumer Goods company with a heritage of over 80 years in India. On any given day, nine out of ten Indian households use our products to feel good, look good and get more out of life – giving us a unique opportunity to build a brighter future.With over 35 brands spanning 20 distinct categories such as soaps, detergents, shampoos, skin care, toothpastes, deodorants, cosmetics, tea, coffee, packaged foods, ice cream, and water purifiers, the Company is a part of the everyday life of millions of consumers across India. Its portfolio includes leading household brands such as Lux, Lifebuoy, Surf Excel, Rin, Wheel, Fair & Lovely, Pond’s, Vaseline, Lakmé, Dove, Clinic Plus, Sunsilk, Pepsodent, Closeup, Axe, Brooke Bond, Bru, Knorr, Kissan, Kwality Wall’s and Pureit.

HUL works to create a better future every day and helps people feel good, look good and get more out of life with brands and services that are good for them and good for others.

The Company has about 18,000 employees and has a net sales of INR 33895 crores (financial year 2016-17). HUL is a subsidiary of Unilever, one of the world’s leading suppliers of Food, Home Care, Personal Care and Refreshment products with sales in over 190 countries and an annual sales turnover of €52.7 billion in 2016. Unilever has over 67% shareholding in HUL.

Key Points:

Strong improvement in margins:

* Strong quarter on profitability: Revenue grew by 4.9% yoy to Rs85.3bn, led by price hikes; EBITDA grew by 14.1% yoy to Rs18.7bn while APAT grew by 14.9% yoy to Rs12.9bn.

* Volume growth was flat, impacted by thinning of trade pipeline (CSD channel worst hit). If CSD channel was normal, volume growth would have been 2% yoy. Expect sales to normalize in the next few months. Rural growth revival is expected to be gradual.

* Gross margin expanded by 80bps to 52.1%, led by premiumisation and price increases. EBITDA margin came in strong at 21.9%, up 180bps yoy (similar to pre-2004 level). EBITDA margin was aided by lower other expenditure and reduced ad spends.

* We believe HUL is moving into a phase of strong earnings growth, driven by expansion in margins. We upgrade our earnings estimates by 0.5%/2% for FY18E/FY19E and estimate 18.9% CAGR in EPS for FY17-19E. We believe strong earnings would re-rate the stock and maintain ACCUMULATE rating. We assign a P/E of 45x and arrive at a target price of Rs1,250.

 Revenue growth steady while margin performance strong

HUL’s Q1FY18 result was ahead of our expectations on profitability front. Key highlights were: 1) Revenue at Rs85.3bn grew by 4.9% yoy with underlying volume growth flat. Domestic business witnessed a healthy growth of 6% yoy, 2) EBITDA at Rs18.7bn grew by 14.1% yoy, while gross margin was healthy at 52.1% (+80bps), aided by better mix and price. EBITDA margin increased by 180bps yoy to 21.9% on the back of prudent cost management across every line item of P&L and 3) APAT grew by 14.9% yoy to Rs12.9bn.

Volumes marred by CSD, expect things to normalize in H2FY18

Volume got impacted, as trade pipeline in Personal Care and Foods segments contracted due to destocking ahead of GST rollout, with CSD channel being the worst hit. Had CSD channel sales been normal, volume growth would have been 2% yoy. Even in the first half of July, the CSD channel continued to be affected, the same is likely to normalise in few weeks. The company expects overall channel to normalize in the next few months. Rural growth was in line with urban growth, and uptick in rural growth is expected to be gradual. After successful launch of Lever Ayush brand in South India, the company will now roll it out nationally.

Outlook and valuation:

We believe that HUL is gradually moving into a phase of strong earnings growth, driven by margin expansion. We have revised our estimates to factor in lower revenue growth, as the company passed on the benefit of GST and increased our margin estimates to factor in a 300bps improvement in margin during FY17-19E. We have our earnings estimates by 0.5%/2% for FY18E/FY19E. We maintain our ACCUMULATE rating with a price target of Rs1,250.

Mothersonsumi Research report by sharetipsinfo

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Company Overview:

MSSL is a flagship company of the SamvardhanaMothersonGroup . MSSL, along with its subsidiaries and joint ventures, is one of the top manufacturers of automotive wiring harnesses and mirrors for passenger cars and a leading supplier of plastic components and modules to the automotive industry globally. The company operates over 230 facilities spread across 33 countries.

Broadly, MSSL’s products can be classified into three categories – modules and polymer products (under SMP), rear view mirrors (under SMR) and wiring harnesses. The company’s product portfolio spans across a wide array of products, including wiring harnesses, mirrors for passenger cars, injectionmoulded products, modules including dashboards, door trims, bumpers, blow-moulded components, liquid silicone rubber-moulded components, injection-moulding tools, extruded rubber products, precision machined metal components and waste recycling systems.

MSSL supplies to most of the leading auto OEMs in the domestic as well as global markets. Some of the company’s key clients include Volkswagen AG, Daimler, Ford, BMW, Maruti Suzuki and Renault Nissan.

Key Points:

MSSL to outpace industry growth; Aims at $18 billion revenue by FY2020:

MothersonSumi Systems Limited (MSSL) has given a revenue target of $18 billion for FY2020, indicating almost triple of revenues from $6.5 billion in FY2017. MSSL has indicated that half of the growth (about $6 billion) would come through organic growth opportunities. The company has identified opportunities across its product range – wiring harnesses (complex wiring systems to comply with stringent emission norms), mirrors (camera-based rear view systems and digital mirrors with greater field of vision) and polymers (lightweight foam plastics and increased sensor technology in bumpers) – all of which would significantly enhance the company’s topline. Further MSSL’s subsidiaries – SamvardhanaMothersonPeguform (SMP) and SamvardhanaMothersonReflectec (SMR) – reported a combined order book of Euro12.9 billion as of March 2017 (includes Euro4 billion of new orders), which highlights consumer confidence and provides topline growth visibility. Apart from organic growth, MSSL also highlighted inorganic growth opportunities ($5 billion-6 billion), which would significantly boost the company’s topline going ahead.

PKC’s acquisition to fuel growth; Open up huge cross-selling opportunities:

MSSL recently completed the acquisition of PKC Group (PKC) by purchasing 93.75% shares for a consideration of Euro571 million (Rs.4,150crore). PKC is the leading supplier of wiring harnesses to the commercial vehicle (CV) industry (commanding 62% and 43% market share in the US and Europe heavy-duty truck market, respectively; and 31% and 23% market share in the US and Europe medium-duty truck market, respectively). As per MSSL, the acquisition is complementary as PKC supplies to the CV segment, while MSSL predominantly is a passenger vehicle (PV) wiring harness provider. Acquisition of PKC would enable MSSL to become a full-fledged wiring harness solutions provider (catering to both the PV and CV segments). Further, PKC is exploring opportunities to almost double its topline to Euro1.4 billion by 2018 (as compared to Euro0.84 billion in 2016) by enhancing its presence in the Asian truck market (particularly China) and entering new segments such as railways and aerospace wiring harness. Further, MSSL is targeting to cross-sell (mirrors and polymer products) to PKC’s existing customers (such as MAN, Paccar, Volvo and Ford).

Focus to improve margins; Targets ROCE of 40% by FY2020:

SMP and SMR have opened up several new plants in the past three to four years to cater to increasing customer requirements. The plants have now reached optimum utilisation levels, giving benefits of operating leverage, which would improve margins. Additionally, MSSL’s focus on value-added products in wake of the stricter emission and enhanced safety norms is likely to augment margins (MSSL has indicated that new order wins offer better margins). MSSL is also targeting to significantly enhance PKC’s performance by improving operational efficiencies and incorporating best manufacturing practices. MSSL is targeting to augment PKC’s ROCE from 7-8% currently to about 40% by FY2020 (MSSL’s wiring harness division ex. PKC generates ROCE of 40%). We expect MSSL’s consolidated margins to improve from 10% in FY2017 to 11.4% in FY2019.

Key risks:

MSSL derives about 85% of its revenue from exports, which are predominantly Euro denominated. Any adverse movement in the currency would impact the company’s performance.

Outlook and valuation:

On a robust growth path; Expect 15-18% upside in the next 6-8 months:

MSSL is likely to post 24% and 36% growth in its topline and bottom line, respectively, over FY2017- 2019, which is amongst the fastest in the auto ancillary space. MSSL is well placed to outpace the auto industry’s growth through increasing content per vehicle and opening up cross-selling opportunities through PKC’s acquisition. Moreover, with increasing valueadded products and improved performance by PKC, we expect MSSL’s return on equity (ROE) to improve significantly from about 18.8% in FY2017 to 22.4% in FY2019. MSSL is a quality auto ancillary company having a diversified product and customer profile with a proven track record of outpacing the industry’s growth and successful improvement in the performance of its subsidiaries.

At the CMP of Rs.318, MSSL is trading at 32.4x FY2018E and 22.4x FY2019E earnings, respectively. We have a positive view on the stock and expect 15-18% upside over the next six to eight months.

US indices hit fresh all time highs as oil prices continue pullback with energy stocks joining the rally. US Dollar hits September lows as bearish bets mount on the currency with bond yields also seeing some weakness.

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Indian Indices: Asian indices opened in the green for another day with most indices now trading at fresh highs. With US Dollar weakness most ETF flows are gathering further momentum with Asian indices seeing strong inflows into equity markets. Despite overbought conditions the trend seems strongly upwards as liquidity surges to highest levels in 2017.


Nifty hit 9900 before closing marginally lower as profit booking set in late on Friday. For today expect a strong start above 9900 with profit taking again expected in second half as local mutual funds book profit. Corporate results will be the key as large cap stocks report earnings this week. For today PSU banks and Gas utilities could see upside while profit booking could emerge in Metals and FMCG counters.


The BSE Sensex is currently trading at 32119.87, up by 99.12 points or 0.31% after trading in a range of 32053.98 and 32128.36. There were 20 stocks advancing against 11 stocks declining on the index. The broader indices were trading in green; the BSE Mid cap index was up by 0.03%, while Small cap index was up by 0.17%.

The CNX Nifty is currently trading at 9917.40, up by 31.05 points or 0.31% after trading in a range of 9894.70 and 9920.30. There were 33 stocks advancing against 18 stocks declining on the index.

MARKET INDICATORS

·           

 

Group ATopGainers

 

 

Company

Price (Rs)

% chg

JPassociat

22.15

6.75

Unitech

8.13

6.27

Sreinfra

119.60

4.68

Wipro

268.45

3.45

Group ATopLosers

 

 

Fortis

151.35

-7.09

Videoind

28.90

-4.93`

KTKBank

160.0

-3.30

Religare

113.40

-3.24

INDEX PERFORMANCE

 

 

Indices

Support

Resistanes

Sensex

31680

31950

Nifty

9765

9850

 

Technical view: Nifty finds strong support around 9850 while 9935 will act as resistance on the upside. Bank Nifty finds support around 23750 while 24100 will act as initial resistance on the upside.


 

Canara Bank (Buy Above 368 with Stop Loss 362 at for Target of 380): The stock has been consolidating for over four trading sessions and has finally broken out from a Flag pattern on the daily charts. The price outburst has been accompanied with impressive rise in volumes. Other oscillators also indicate that the current momentum is here to stay.


EconomicSnippets      

The market regulator, the Securities and Exchange Board of India (SEBI) and Finance Ministry are in discussions for extending the deadline for unwinding naked position through Participatory note (P-notes).

According to the Commercial Taxes department, “the different procedures for different auction centres is inadmissible” after the launch of the GST Act, which is a unified tax rate applicable across the country.According to the Commercial Taxes department, “the different procedures for different auction centres is inadmissible” after the launch of the GST Act, which is a unified tax rate applicable across the country.

Lower inflation in food articles, manufacturing and fuel cooled India's wholesale inflation to 0.9% in June from 2.17% in May. For decades, many Indians have escaped tax and legitimised their money stashed abroad by staying 182 days out of the country every year and declaring themselves as ‘non-resident’.


Nifty Movers: The top gainers on Nifty were Wipro up by 3.41%, Vedanta up by 1.89%, Mahindra & Mahindra up by 1.70%, Infosys up by 1.67% and Adani Ports & Special Economic Zone up by 1.56%.  On the flip side, ITC down by 2.36%, GAIL India down by 0.97%, AurobindoPharma down by 0.87%, Indian Oil Corporation down by 0.80% and Coal India down by 0.46% were the top losers.

Top Sectoral& Stock Screening:The top gaining sectoral indices on the BSE were IT up by 1.31%, TECK up by 1.06%, Metal up by 0.79%, Basic Materials up by 0.77% and Utilities up by 0.60%, while FMCG down by 1.25% and Realty down by 0.01% were the only losing indices on BSE.

 

 

On the global front: On the global front, Asian shares were trading mostly in green. China reported better-than-expected trade data for June, suggesting the economy is holding up well thanks to firmer global demand, despite a cooling property market at home amid a financial crackdown that has put firms under pressure.

Global Signals:The Asian markets were trading mostly in green; FTSE Bursa Malaysia KLCI increased 0.22 points or 0.01% to 1,755.22, Taiwan Weighted increased 1.34 points or 0.01% to 10,445.25, Jakarta Composite increased 1.55 points or 0.03% to 5,833.34, KOSPI Index increased 9.07 points or 0.38% to 2,423.70 and Hang Seng increased 132.43 points or 0.5% to 26,521.66. On the other hand, Shanghai Composite decreased 14 points or 0.43% to 3,208.42. Tokyo Stock Exchange was closed on account of National holiday.

 

SENSEX, NIFTY CLOSE LOWER AFTER RANGEBOUND TRADE; INFOSYS LOSSES SHINE

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Indian Indices: Indian equity markets traded on a lackluster note throughout the day and ended the session with modest cut. The equity benchmarks continued its bullish run in early deals with Nifty touching a new peak of 9,900 mark for the first time ever. However, the markets, failed to hold on to their gains and entered into red terrain, breaching their respective crucial levels, as traders remained concerned with disappointing earnings by the Tata Consultancy Services, India’s largest software services exporter whose quarterly profit fell 10 percent sequentially, while revenues declined 0.2 percent. Separately, global IT research firm Gartner further lowered its 2017 IT spending growth estimate to 2.4 percent from the 2.7 percent earlier on worries on digitization. The firm had first predicted for a 3 percent growth in worldwide IT spends, which got revised down to 2.7 percent in January this year. The downward revision in growth estimates comes amid growing anxieties over the future of the IT industry, with concerns surrounding automation and rising protectionism that is being blamed for job losses in the country.

The BSE Sensex ended at 32000.11, down by 37.27 points or 0.12% after trading in a range of 31897.87 and 32109.75. There were 13 stocks advancing against 18 stocks declining on the index. The broader indices ended mixed; the BSE Mid cap index was up by 0.20%, while Small cap index was down by 0.39%.

The CNX Nifty ended at 9886.70, down by 5.00 points or 0.05% after trading in a range of 9845.45 and 9913.30. There were 23 stocks advancing against 28 stocks declining on the index.

MARKET INDICATORS

·           

 

Top Movers (Group A)

 

 

Company

Cmp

% chg

Gainers

 

 

Unitech

7.65

9.44

Biocon

399.20

8.88

Religare

117.20

8.57

Trent

261.70

5.33

Losers

 

 

Videoind

30.40

-4.85

Naukri

1002.45

-4.08

Sintex

32.90

-3.66

Prestige

265.70

-3.10

INDEX PERFORANCE

 

 

Index

Close

% Chg

Sensex

32,020.75

-0.05

Nifty

9,886.35

-0.05

 

Crporate Front: The government has extended the deadline for listed PSUs to achieve the minimum 25 per cent public shareholding norm by a year to August 2018, a finance ministry order said. The deadline has been extended to avoid bunching of share sale offers from state-owned firms and the government gets to decide on the opportune time to divest stake in any PSU, including the blue chip ones.

 

Macroeconomic front: The government has nominated Subhash Chandra Garg, Secretary in the Department of Economic Affairs in the Ministry of Finance, to replace Shaktikanta Das as the Director on the Central Board of Directors of the RBI.
The nomination came into effect from July 12, the Reserve Bank of India said in a statement here on Friday. Das superannuated as the Economic Affairs Secretary on May 31 after an extended term.

 

On the global front: On the global front, Asian markets closed mostly in green. Japan’s government raised its growth forecasts for private consumption, capital expenditure, and housing investment for the current fiscal year as domestic demand gathers strength. South Korea’s central bank held its policy rate at a record-low 1.25 percent for a 13th straight month, a widely expected decision as policy makers seek to boost subdued private consumption and keep any thoughts of tightening off the table for now

Commodity Updates:

Commodity Prices (MCX):

Commodity

Rs

% Chang

Gold

27845.00

0.03

Silver

36563.00

-0.07

Crude oil

2995.00

1.05

Natural Gas

192.00

-0.1

Alluminium

123.30

-0.08

Copper

381.30

0.12

Top Sectoral& Stock Screening:The top gaining sectoral indices on the BSE were Healthcare up by 0.89%, Utilities up by 0.78%, Telecom up by 0.48%, Power up by 0.33% and PSU up by 0.28%, while Realty down by 0.73%, Capital Goods down by 0.64%, Industrials down by 0.63%, IT down by 0.56% and Metal down by 0.55% were the top losing indices on BSE.

Top Nifty Movers:The top gainers on Nifty were AurobindoPharma up by 5.06%, ACC up by 2.20%, GAIL India up by 1.94%, Kotak Mahindra Bank up by 1.73% and NTPC up by 1.37%. On the flip side, Indian Oil Corporation down by 2.26%, TCS down by 2.01%, Coal India down by 1.77%, Tata Motors - DVR down by 1.66% and Wipro down by 1.46% were the top losers.

 

Global Signals:

Asian markets were trading mostly in green; FTSE Bursa Malaysia KLCI increased 0.15 points or 0.01% to 1,753.93, Shanghai Composite increased 4.25 points or 0.13% to 3,222.42, KOSPI Index increased 5.14 points or 0.21% to 2,414.63, Nikkei 225 increased 19.05 points or 0.09% to 20,118.86 and Hang Seng increased 43.06 points or 0.16% to 26,389.23. On the flip side, Jakarta Composite decreased 22.07 points or 0.38% to 5,807.97 and Taiwan Weighted decreased 16.24 points or 0.16% to 10,443.91.

European markets were mostly trading in red; UK’s FTSE 100 decreased 7.29 points or 0.1% to 7,406.15 and Germany’s DAX decreased 1.23 points or 0.01% to 12,640.10. On the flip side, France’s CAC increased 7.48 points or 0.14% to 5,242.88.

 

 

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