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US markets manage to end with marginal gains even as Brazil enters fresh crisis with markets tanking over 10%.

19. May 2017 Rohit Stock Market Research (0)

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Indian Indices: Asian indices opened flat to mildly positive after seeing a huge selloff on Thursday. The undertone remains weak as weekend blues will see caution prevail as emerging markets could be under pressure due to Brazilian crisis. The selloff in Brazilian bonds and equities could see collateral damage spill over to other emerging markets as index re-balancing takes place by large institutional investors.

Nifty finally succumbed to global cues and closed down almost 100 points as selloff in Banks, Metals and Industrials gathered momentum. The Rupee which has been an outperformer in emerging markets also fell sharply to close @ 64.88 almost down 70 paise. For today expect mild bouts of pullback with mid caps witnessing selling on rallies as investors book profits.

The BSE Sensex is currently trading at 30634.70, up by 199.91 points or 0.66% after trading in a range of 30539.65 and 30712.35. There were 19 stocks advancing against 11 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index was up by 0.75%, while Small cap index was up by 1.02%.

The CNX Nifty is currently trading at 9483.35, up by 53.90 points or 0.57% after trading in a range of 9465.15 and 9505.75. There were 32 stocks advancing against 19 stocks declining on the index.

MARKET INDICATORS			·
*Group ATopGainers*
*Company*	Price (Rs)	% chg
*GMDCLTD*	135.30	6.54
*CESC*	867.10	4.50
*ITC*	289.50	4.12
*Colpal*	1014.75	3.61
*Group ATopLosers*
*UPL*	766.70	-6.09
*Suntv*	820.90	-5.92
*Unitdspr*	1966.95	-3.68
*OFSS*	3675.75	-2.53

INDEX PERFORMANCE
*Indices*	*Support*	*Resistanes*
*Sensex*	*30430*	*30660*
*Nifty*	*9475*	*9535*

Technical view: Nifty will find support around 9370 while yesterday's high of 9489 will act as resistance on the upside. Bank Nifty also finds support around 22550 while 22834 which was yesterday's high will act as resistance on the upside.

Colpal (BUY Above 981 with Stop Loss at 965 for Target of 1020): The stock has been witnessing selling pressure in the past four weeks. However, Colpal has reached its crucial support of 100-DMA and is showing signs of a reversal. Even momentum oscillators are making an attempt to reverse from the oversold zone indicating a meaningful bounce from here.

Derivative Snippets

In the last trading session, markets tumbled as around 90% of stocks in Nifty50 index closed in red. Nifty and Bank Nifty OTM call option strikes added fresh short positions while put option strikes added fresh long position with rise in implied volatility, indicating further pain for market going forward.

FIIs were net sellers in cash market segment to the tune of Rs 361 Cr.

FIIs index future long short ratio at 1.9x. Long positions to the tune of ~26k contracts were created in Index put options.

Nifty Movers: The top gainers on Nifty were ITC up by 5.15%, Bank of Baroda up by 2.72%, Yes Bank up by 2.57%, Grasim Industries up by 2.32% and Hindustan Unilever up by 2.10%. On the flip side, Asian Paints down by 1.28%, TCS down by 1.20%, Wipro down by 1.18%, Eicher Motors down by 1.10% and Infosys down by 1.05% were the top losers.

Top Sectoral& Stock Screening: The gaining sectoral indices on the BSE were FMCG up by 3.44%, Realty up by 1.88%, Power up by 1.55%, Telecom up by 1.25% and Metal up by 1.21%, while IT down by 0.77%, TECK down by 0.43% and Consumer Durables down by 0.06% were the only losing indices on BSE.

On the global front: On the global front, Asian shares were trading mostly in green, amid political turmoil in Brazil. Indonesia’s central bank governor said its policy stance remained neutral and that it was monitoring global risks ranging from the big chance of a rate hike in the United States in June to tension in the Korean peninsula. At a policy meeting, Bank Indonesia kept its benchmark interest rate unchanged at 4.75 percent, saying its decision was consistent with its efforts to maintain stability at a time of recovery for Southeast Asia’s largest economy.

Global Signals:The Asian markets were trading mostly in green; FTSE Bursa Malaysia KLCI increased 3.23 points or 0.18% to 1,770.40, KOSPI Index increased 4.19 points or 0.18% to 2,291.01, Jakarta Composite increased 22.12 points or 0.39% to 5,667.57, Nikkei 225 increased 28.78 points or 0.15% to 19,582.64 and Hang Seng increased 82.54 points or 0.33% to 25,219.06.

On the other hand, Taiwan Weighted decreased 16.26 points or 0.16% to 9,953.19 and Shanghai Composite decreased 1.29 points or 0.04% to 3,088.85.

SENSEX CLOSES OVER 200 POINTS LOWER, NIFTY BELOW 9500; IT STOCKS GAIN

18. May 2017 Rohit Stock Market Research (0)

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Indian Indices: The Indian equity benchmarks continued their sluggish trade in late afternoon session, tracking bearish global cues and heavy selling pressure in Consumer Durables, Realty and Basic Materials stocks. Investors remained cautious over the ongoing two-day Good and Services Tax (GST) Council's meet, which will finalise tax slabs on services and commodities in the country. Some concerns also came with India Ratings and Research’s report that corporate and small & medium enterprise (SME) loans aggregating to Rs 2.60 lakh crore, which is 3.2 percent of total bank credit, could potentially be recognized as stressed loans by FY19.

It further noted that Indian banks are sitting on unrecognized stressed loans worth of Rs 7.7 lakh crore. It also pegs stressed corporate and SME debt at 22 percent of total bank credit. Meanwhile, the railways will launch shortly its redesigned e-tendering system with more user-friendly new features to facilitate digital participation of over 60,000 vendors.

The BSE Sensex is currently closed at 30434.79, down by 223.98 points or 0.73% after trading in a range of 30436.56 and 30575.83. There were 10 stocks advancing against 19 stocks declining on the index, while 1 stock remained unchanged.

The broader indices were trading in red; the BSE Mid cap index was down by 1.25%, while Small cap index was down by 0.94%.

The CNX Nifty is currently shut down at 9429.45, down by 96.30 points or 1.01% after trading in a range of 9445.25 and 9489.10. There were 11 stocks advancing against 40 stocks declining on the index.

*MARKET INDICATORS*			·
*Top Movers (Group A)*
*Company*	Cmp	% chg
*Gainers*
*JPassociat*	12.99	4.42
*Wipro*	523.60	3.47
*Cumminsin*	1052.55	3.45
*TCS*	2534.10	3.38
*Losers*
*CESC*	829.80	-15.10
*IDBI*	70.00	-7.77
*JSWSteel*	191.40	-7.38
*BhartFin*	725.80	-6.91

INDEX PERFORANCE
*Index*	*Close*	*% Chg*
*Sensex*	*30,434.79*	*-0.73*
*Nifty*	*9,429.45*	*-1.01*

Crporate Front:

Regrob, a top real estate brokerage company in India, announced the launch of its 21st branch in Vijayawada Andhra Pradesh. "With every new branch, the roots of Regrob are growing deeper and stronger in the industry", said CEO Vivek Raman.Rated as the easiest state to do business, Andhara Pradesh is now a new home for Regrob, a company with the second highest market share in the technology based real-estate brokerage sector.

Macroeconomic front:

The Union Cabinet has approved the signing and ratifying of an agreement between India and Tajikistan on cooperation and sharing of intelligence in the area of Customs. The agreement will help in availability of information for the prevention and investigation of Customs offences, an official statement said.

On the global front:

On the global front, European markets were trading in red as mounting political uncertainty in the U.S. exacerbated concerns among investors as to whether President Donald Trump would be able to deliver on key pro-growth policies. Asian markets were also trading in red. Back home, in scrip specific development, Hindustan Copper traded jubilantly after the company received an approval on fund raising plan.

The board has recommended issues of fresh equity shares through Further Public Offer (FPO) or Institutional Placement Programme (IIP) or Qualified Institutional Placement (QIP) or a combination of the routes as per extend guidelines, to a extend of 9.25 crore equity shares (10% of existing paid up equity capital).

Commodity Updates:

*Commodity Prices (MCX):*
*Commodity*	Rs	*% Chang*
*Gold*	*28895.00*	*0.96*
*Silver*	*39176.00*	*-0.06*
*Crude oil*	*3128.00*	*-0.89*
*Natural Gas*	*206.90*	*1.07*
*Alluminium*	*123.70*	*0.0*
*Copper*	*359.10*	*-1.12*

Top Sectoral& Stock Screening:The top gainers on the Sensex were TCS up by 3.47%, Wipro up by 2.89%, Lupin up by 1.54%, Infosys up by 0.98% and ICICI Bank up by 0.90%. On the flip side, Mahindra & Mahindra down by 1.76%, Tata Motors down by 1.69%, Larsen & Toubro down by 1.68%, Hindustan Unilever down by 1.41% and Reliance Industries down by 1.29% were the top losers.

Top Nifty Movers:The top gainers on Nifty were TCS up by 3.21%, Wipro up by 2.20%, Lupin up by 1.37%, Adani Ports & SEZ up by 1.10% and Infosys up by 0.94%. On the flip side, Yes Bank down by 3.06%, Ultratech Cement down by 2.71%, BhartiInfratel down by 2.47%, Hindalco down by 2.44% and Grasim Industries down by 2.42% were the top losers.

Global Signals:

Asian markets were trading mostly in red; Nikkei 225 decreased 261.02 points or 1.32% to 19,553.86, Hang Seng decreased 157.11 points or 0.62% to 25,136.52, Taiwan Weighted decreased 44.22 points or 0.44% to 9,969.45, Shanghai Composite decreased 14.3 points or 0.46% to 3,090.14, FTSE Bursa Malaysia KLCI decreased 10.91 points or 0.61% to 1,764.74 and KOSPI Index decreased 6.26 points or 0.27% to 2,286.82. On the flip side, Jakarta Composite increased 19.3 points or 0.34% to 5,634.79.

All the European markets were trading in red; Germany’s DAX decreased 67.72 points or 0.54% to 12,563.89, UK’s FTSE 100 decreased 59.09 points or 0.79% to 7,444.38 and France’s CAC decreased 34.33 points or 0.65% to 5,283.56.

US indices record huge 350 plus point fall as Trump policies are in danger of execution. US Dollar falls along with bond yields while gold hits a 3 month high.

18. May 2017 Rohit Stock Market Research (0)

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Indian Indices: Asian indices opened in red with the Japanese 'Nikkei" falling over 350 points as stronger ‘Yen’ hurt exporters. With US bond yields falling by 2.22% there was a scramble to buy bonds as ‘risk off’ trade gathered momentum after the Trump/Comey rhetoric saw negative overtones. Globally, markets are perched atop huge highs and any correction will be sharp as paper profits turn to actual.

Nifty refused to correct as all intraday dips are turning to be buying opportunities. Today may be different and if the crucial support gets broken during the day then it will lead to profit booking as overbought market likely to witness sharper than expected corrections. Mid-caps are seeing huge profit booking and could be susceptible today as leveraged players exit long positions.

The BSE Sensex is currently trading at 30500.82, down by 157.95 points or 0.52% after trading in a range of 30436.56 and 30567.82. There were 6 stocks advancing against 24 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index declined by 1.01%, while Small cap index was down by 0.86%.

The CNX Nifty is currently trading at 9465.60, down by 60.15 points or 0.63% after trading in a range of 9448.75 and 9489.10. There were 9 stocks advancing against 42 stocks declining on the index.

MARKET INDICATORS			·
*Group ATopGainers*
*Company*	Price (Rs)	% chg
*Hindcopper*	70.30	5.32
*MRPL*	139.40	3.18
*Wipro*	520.55	2.87
*Edelweiss*	183.00	2.21
*Group ATopLosers*
*JKLakshmi*	481.25	-6.57
*Network18*	49.25	-4.74
*DEN*	97.75	-4.07
*Unitech*	5.79	-3.98

INDEX PERFORMANCE
*Indices*	*Support*	*Resistanes*
*Sensex*	*30430*	*30660*
*Nifty*	*9475*	*9535*

Technical view: Nifty will see support initially around 9450 which was the previous resistance and if that is broken then 9370 can be tested, while 9550 on the upside will act as resistance. Bank Nifty will see 23000 act as resistance on the upside while 22550 will act as support.

Ashok Leyland (Buy Above 88.5 with Stop Loss at 86 for Target of 93): After consolidating for over six weeks, the stock has finally broken out from a double bottom pattern on the daily charts. The price outburst has been accompanied with smart uptick in volumes. Ashok Leyland has also closed above its long term 200-DMA further accentuating our bullish stance on the stock.

Derivative Snippets

In the last trading session, markets traded in a narrow range for almost entire day. Nifty 9500 PE added fresh open interest to the tune of ~15 lakhs shares making 9500 as strong resistance level going forward.

FIIs were net sellers in cash market segment to the tune of Rs 731 Cr.FIIs index future long short ratio at 1.9x v/s 2x.

Cabinet OKs policy to auction coal linkages to power producers

Skymet says monsoon to hit Kerala May 29; IMD sees onset on May 30

GST plan enters last stage; Council meets to decide on tax rates

Nifty Movers: The top gainers on Nifty were Bank of Baroda up by 0.99%, TCS up by 0.97%, Tech Mahindra up by 0.93%, Wipro up by 0.86% and Sun Pharma up by 0.48%. On the flip side, Hindalco down by 2.62%, Yes Bank down by 2.56%, Axis Bank down by 1.65%, Indiabulls Housing down by 1.54% and Ambuja Cement down by 1.40% were the top losers.

Top Sectoral& Stock Screening: The only gaining sectoral indices on the BSE were IT up by 0.40% and TECK up by 0.25%, while Realty down by 2.07%, Metal down by 1.31%, Industrials down by 1.24%, Basic Materials down by 1.22%, Capital Goods down by 1.21% were the top losing indices on BSE.

On the global front: On the global front, Global cues too remained somber with most of the Asian counters were trading in red at this point of time. The Japanese market was down by over a percent as the yen strengthened against the dollar. The US markets slumped in the last session and the tech-heavy Nasdaq which has been on a record breaking spree pulled back well off its record closing high.

Global Signals:Asian markets were trading mostly in red; Nikkei 225 declined 316.94 points or 1.6% to 19,497.94, Hang Seng slipped 59.29 points or 0.23% to 25,234.34, Taiwan Weighted decreased 51.84 points or 0.52% to 9,961.83, KOSPI Index shed 10.6 points or 0.46% to 2,282.48, FTSE Bursa Malaysia KLCI fell 9.52 points or 0.54% to 1,766.13 and Shanghai Composite was down by 5.84 points or 0.19% to 3,098.60. On the flip side, Jakarta Composite was up by 9.38 points or 0.17% to 5,624.88.

SENSEX, NIFTY MANAGE TO END SESSION AT A RECORD CLOSING HIGH, TATA GROUP COS GAIN

17. May 2017 Rohit Stock Market Research (0)

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Indian Indices: Reversing initial losses, Indian equity benchmarks added gains in late afternoon session to hover near intraday highs, as investors remained optimistic ahead of the two-day Good and Services Tax (GST) Council's meet that is scheduled to start on Thursday and healthy buying in metal, realty and automobile stocks also buoyed investors' sentiments.

Some support also came with the report that India has overtaken the US to be at second place in this year's 'Renewable energy country attractiveness index' released by EY and this is primarily due to a combination of strong government support and increasingly attractive economics.

Meanwhile, power stocks gained traction after the CCEA approved a new coal linkage policy to ensure adequate supply of the fuel to power plants through reverse auction. Shares of some steel companies were trading higher with India Ratings and Research’s report that the National Steel Policy 2017 announced by the Ministry of Steel will give a boost to the struggling Indian steel industry and is betting on higher spending on infrastructure and construction sector through government initiatives to push steel demand and increase utilization.

The BSE Sensex is currently closed at 30658.77, up by 76.17 points or 0.25% after trading in a range of 30519.14 and 30692.45. There were 20 stocks advancing against 10 stocks declining on the index. The broader indices were trading mixed; the BSE Mid cap index was up by 0.17%, while Small cap index was down by 0.04%.

The CNX Nifty is currently shut up at 9525.75, up by 13.50 points or 0.14% after trading in a range of 9486.10 and 9529.30. There were 28 stocks advancing against 23 stocks declining on the index.

*MARKET INDICATORS*			·
*Top Movers (Group A)*
*Company*	Cmp	% chg
*Gainers*
*Tata Steel*	493.35	7.95
*Ceatltd*	1832.45	7.85
*Sobha*	429.60	4.28
*Welcorp*	94.25	4.66
*Losers*
*Edelweiss*	179.05	-5.66
*PNB*	165.05	-5.44
*Religare*	182.95	-4.56
*Network18*	51.50	-4.28

INDEX PERFORANCE
*Index*	*Close*	*% Chg*
*Sensex*	*30,658.77*	*0.25*
*Nifty*	*9,525.75*	*0.14*

Crporate Front:

Pharmaceutical and petrochemical industries can help India and Belgium to diversify their bilateral trade beyond the diamond sector, the country's Secretary of State for Foreign Trade Pieter De Crem has said."Bilateral trade between India and Belgium is already strong. This is mainly thanks to the diamond sector and trade between Mumbai and Antwerp. I believe there is scope for diversifying to other sectors," De Crem told IANS on a recent visit to India.

Macroeconomic front:The Medium and Heavy Commercial Vehicle (MHCV) segment posted a 55 per cent yoy and 73 per cent mom decline in domestic sales volumes in April 2017, which is disconcerting and reflective of the possible MHCV industry downturn, says India Ratings and Research (Ind-Ra). MHCV sales volumes traditionally have displayed a sharp month on month decline in the month of April, due to highest annual sales usually registered in the month of March.

On the global front:

On the global front, European markets were trading in red as investors reacted to fresh corporate earnings and ongoing political uncertainty in the US. Asian markets were also trading in red. Back home, in scrip specific development, Dr. Reddy’s Laboratories traded higher after the company received approval from the U.S. Food and Drug Administration (USFDA) to launch Doxorubicin Hydrochloride Liposome Injection, a therapeutic equivalent generic version of Doxil (doxorubicin hydrochloride liposome injection), for intravenous use, in the United States market.

Commodity Updates:

*Commodity Prices (MCX):*
*Commodity*	Rs	*% Chang*
*Gold*	*28345.00*	*0.89*
*Silver*	*39131.00*	*1.00*
*Crude oil*	*3124.00*	*0.03*
*Natural Gas*	*206.90*	*0.29*
*Alluminium*	*123.55*	*0.08*
*Copper*	*362.10*	*-0.1*

Top Sectoral& Stock Screening:The top gaining sectoral indices on the BSE were Metal up by 2.51%, Basic Materials up by 0.65%, Realty up by 0.49%, Auto up by 0.40% and Power up by 0.38%, while Consumer Durables down by 0.91%, IT down by 0.34%, Healthcare down by 0.23%, TECK down by 0.23%, and Oil & Gas down by 0.05% were the top losing indices on BSE.

Top Nifty Movers:The top gainers on Nifty were Tata Steel up by 8.64%, Indiabulls Housing Finance up by 2.96%, ICICI Bank up by 2.08%, Tata Power up by 1.73% and Tata Motors up by 1.67%. On the flip side, Tech Mahindra down by 2.54%, Bosch down by 1.69%, ACC down by 1.47%, Yes Bank down by 1.38% and Adani Ports & SEZ down by 1.38% were the top losers.

Global Signals:

All Asian markets were trading in red; Nikkei 225 decreased 104.94 points or 0.53% to 19,814.88, Hang Seng decreased 42.31 points or 0.17% to 25,293.63, Jakarta Composite decreased 25.8 points or 0.46% to 5,621.20, Taiwan Weighted decreased 17.82 points or 0.18% to 10,013.67, Shanghai Composite decreased 8.52 points or 0.27% to 3,104.44, FTSE Bursa Malaysia KLCI decreased 5.82 points or 0.33% to 1,772.33 and KOSPI Index decreased 2.25 points or 0.1% to 2,293.08.

European markets were trading mostly in red; Germany’s DAX decreased 22.26 points or 0.17% to 12,782.27 and France’s CAC decreased 13.96 points or 0.26% to 5,392.14. On the flip side, UK’s FTSE 100 increased 6.15 points or 0.08% to 7,528.18.

US indices close flat as political rhetoric sees sentiment turn cautious. Global markets consolidate as US Dollar weakens further with emerging market currencies seeing big gains.

17. May 2017 Rohit Stock Market Research (0)

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Indian Indices: Asian indices opened weak as profit booking seems on the cards after the heady run of the past few weeks. US Dollar weakness saw strength in most Asian currencies, which boosted sentiments with positive inflows into equities. There could be some more consolidation as US political rhetoric takes centre stage, which could see some more profit booking on rallies.

Nifty crossed 9500 led by Auto, Banks and FMCG as foreign flows and left out feeling witness huge buying chase stocks. With most sideline sitters also jumping in the fray expect another final bout of irrational exuberance as Nifty moves into extremely overbought zone. For today expect Tata Steel to lead from the front after posting excellent results last evening, while mid-cap housing and financials could be under pressure from profit booking.

The BSE Sensex is currently trading at 30599.56, up by 16.96 points or 0.06% after trading in a range of 30519.14 and 30642.94. There were 17 stocks advancing against 13 stocks declining on the index. The broader indices were trading in green; the BSE Mid cap index was up by 0.24%, while Small cap index was up by 0.10%.

The CNX Nifty is currently trading at 9507.50, down by 4.75 points or 0.05% after trading in a range of 9489.70 and 9521.00. There were 24 stocks advancing against 27 stocks declining on the index.

MARKET INDICATORS			·
*Group ATopGainers*
*Company*	Price (Rs)	% chg
*Tata Steel*	492.85	7.84
*RTNPower*	8.89	5.58
*Sobha*	433.00	5.11
*Monsanto*	2919.45	5.18
*Group ATopLosers*
*Shreecem*	18926.40	-5.11
*Edelweiss*	181.65	-4.29
*PNB*	167.65	-3.95
*Religare*	184.70	-3.65

INDEX PERFORMANCE
*Indices*	*Support*	*Resistanes*
*Sensex*	*30430*	*30660*
*Nifty*	*9475*	*9535*

Technical view: Nifty finds strong support around 9450 which was the previous support while 9600 will act as resistance on the upside. Bank Nifty will also find support now around 22750 while 23100 will act as resistance on the upside.

SBI (Buy Above 308 with Stop Loss at 301 for Target of 320): After consolidating for the past six weeks, the stock has finally broken out from a symmetrical triangle pattern on the daily charts. The price outburst has been accompanied with credible rise in volumes too. In addition, other momentum oscillators also indicate than the upswing is likely to extend, which further accentuates our bullish stance on the stock.

Derivative Snippets

In the last trading session, Nifty, Bank Nifty, Mid-cap Index closed on record highs. Nifty closed above 9500 level for the first time ever as huge short covering was witnessed in 9500 CE strike. Nifty ATM/OTM put option strikes continue to remain under selling pressure. Nifty 9600 CE added fresh long positions, indicating a further up move. Bank Nifty 22500 CE added fresh long positions to the tune ~95k shares.

FIIs were net buyers in cash market segment to the tune of Rs 858 Cr.

FIIs index future long short ratio at 2x.

Nifty Movers: The top gainers on Nifty were Tata Steel up by 5.32%, Indiabulls Housing up by 2.89%, ICICI Bank up by 1.49%, BhartiAirtel up by 1.10% and Mahindra & Mahindra up by 1.04%. On the flip side, Tech Mahindra down by 2.59%, Yes Bank down by 1.38%, ACC down by 1.31%, Bosch down by 1.23% and Wipro down by 1.23% were the top losers.

Top Sectoral& Stock Screening: The top gaining sectoral indices on the BSE were Metal up by 1.75%, Power up by 0.61%, Telecom up by 0.55%, Utilities up by 0.53% and Realty up by 0.49%, while Consumer Durables down by 0.77%, IT down by 0.55%, FMCG down by 0.38%, TECK down by 0.33% and Healthcare down by 0.16% were the losing indices on BSE.

On the global front: On the global front, Asian shares were trading in red, on the continued chaotic US political situation weighing on expectations for economic policies favoring tax cuts and higher spending. Japanese stocks dropped after the dollar eased against the yen on weak US economic data, while financials stocks underperformed hit by lower US yields.

Global Signals:The Asian markets were trading in red; Nikkei 225 decreased 109.98 points or 0.55% to 19,809.84, Hang Seng decreased 42.16 points or 0.17% to 25,293.78, Taiwan Weighted decreased 34.27 points or 0.34% to 9,997.22, Jakarta Composite decreased 22.05 points or 0.39% to 5,624.95, FTSE Bursa Malaysia KLCI decreased 6.67 points or 0.38% to 1,771.48, KOSPI Index decreased 3.33 points or 0.15% to 2,292.00 and Shanghai Composite decreased 2.45 points or 0.08% to 3,110.52.

US indices close flat as political rhetoric sees sentiment turn cautious. Global markets consolidate as US Dollar weakens further with emerging market currencies seeing big gains.

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Indian Indices: Asian indices opened weak as profit booking seems on the cards after the heady run of the past few weeks. US Dollar weakness saw strength in most Asian currencies, which boosted sentiments with positive inflows into equities. There could be some more consolidation as US political rhetoric takes centre stage, which could see some more profit booking on rallies.

Nifty crossed 9500 led by Auto, Banks and FMCG as foreign flows and left out feeling witness huge buying chase stocks. With most sideline sitters also jumping in the fray expect another final bout of irrational exuberance as Nifty moves into extremely overbought zone. For today expect Tata Steel to lead from the front after posting excellent results last evening, while mid-cap housing and financials could be under pressure from profit booking.

The BSE Sensex is currently trading at 30599.56, up by 16.96 points or 0.06% after trading in a range of 30519.14 and 30642.94. There were 17 stocks advancing against 13 stocks declining on the index. The broader indices were trading in green; the BSE Mid cap index was up by 0.24%, while Small cap index was up by 0.10%.

The CNX Nifty is currently trading at 9507.50, down by 4.75 points or 0.05% after trading in a range of 9489.70 and 9521.00. There were 24 stocks advancing against 27 stocks declining on the index.

MARKET INDICATORS			·
*Group ATopGainers*
*Company*	Price (Rs)	% chg
*Tata Steel*	492.85	7.84
*RTNPower*	8.89	5.58
*Sobha*	433.00	5.11
*Monsanto*	2919.45	5.18
*Group ATopLosers*
*Shreecem*	18926.40	-5.11
*Edelweiss*	181.65	-4.29
*PNB*	167.65	-3.95
*Religare*	184.70	-3.65

INDEX PERFORMANCE
*Indices*	*Support*	*Resistanes*
*Sensex*	*30430*	*30660*
*Nifty*	*9475*	*9535*

Technical view: Nifty finds strong support around 9450 which was the previous support while 9600 will act as resistance on the upside. Bank Nifty will also find support now around 22750 while 23100 will act as resistance on the upside.

SBI (Buy Above 308 with Stop Loss at 301 for Target of 320): After consolidating for the past six weeks, the stock has finally broken out from a symmetrical triangle pattern on the daily charts. The price outburst has been accompanied with credible rise in volumes too. In addition, other momentum oscillators also indicate than the upswing is likely to extend, which further accentuates our bullish stance on the stock.

Derivative Snippets

In the last trading session, Nifty, Bank Nifty, Mid-cap Index closed on record highs. Nifty closed above 9500 level for the first time ever as huge short covering was witnessed in 9500 CE strike. Nifty ATM/OTM put option strikes continue to remain under selling pressure. Nifty 9600 CE added fresh long positions, indicating a further up move. Bank Nifty 22500 CE added fresh long positions to the tune ~95k shares.

FIIs were net buyers in cash market segment to the tune of Rs 858 Cr.

FIIs index future long short ratio at 2x.

Nifty Movers: The top gainers on Nifty were Tata Steel up by 5.32%, Indiabulls Housing up by 2.89%, ICICI Bank up by 1.49%, BhartiAirtel up by 1.10% and Mahindra & Mahindra up by 1.04%. On the flip side, Tech Mahindra down by 2.59%, Yes Bank down by 1.38%, ACC down by 1.31%, Bosch down by 1.23% and Wipro down by 1.23% were the top losers.

Top Sectoral& Stock Screening: The top gaining sectoral indices on the BSE were Metal up by 1.75%, Power up by 0.61%, Telecom up by 0.55%, Utilities up by 0.53% and Realty up by 0.49%, while Consumer Durables down by 0.77%, IT down by 0.55%, FMCG down by 0.38%, TECK down by 0.33% and Healthcare down by 0.16% were the losing indices on BSE.

On the global front: On the global front, Asian shares were trading in red, on the continued chaotic US political situation weighing on expectations for economic policies favoring tax cuts and higher spending. Japanese stocks dropped after the dollar eased against the yen on weak US economic data, while financials stocks underperformed hit by lower US yields.

Global Signals:The Asian markets were trading in red; Nikkei 225 decreased 109.98 points or 0.55% to 19,809.84, Hang Seng decreased 42.16 points or 0.17% to 25,293.78, Taiwan Weighted decreased 34.27 points or 0.34% to 9,997.22, Jakarta Composite decreased 22.05 points or 0.39% to 5,624.95, FTSE Bursa Malaysia KLCI decreased 6.67 points or 0.38% to 1,771.48, KOSPI Index decreased 3.33 points or 0.15% to 2,292.00 and Shanghai Composite decreased 2.45 points or 0.08% to 3,110.52.

BULLS LIFT MARKET TO NEW CLOSING HIGH; NIFTY ABVOE 9500, SENSEX GAINS 260 PTS

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Indian Indices: Indian equity benchmarks extended their previous session gain as investors remained bullish about the prospects of a good monsoon. The benchmark indices -- BSE Sensex touched fresh all-time intra-day high of 30,590.71, while the NSE index Nifty touched a new peak of 9,517.20 in trade. The equity benchmarks made a positive start in early deals as traders took support from industry body FICCI’s latest Economic Outlook Survey which pegged India’s gross domestic product (GDP) growth at around 7.4 percent for the fiscal year 2017-18. The survey was conducted during March and April 2017 and recorded a median GDP group forecast of 7.4 percent for the current fiscal year, with a minimum and maximum level of 7 percent and 7.6 percent respectively. The pick-up in overall GDP growth will also be supported by an improvement in industry and services sector growth. Some support also came with the report that India’s monsoon rains are expected to arrive on the southern Kerala coast on May 30, two days ahead of schedule. India looks likely to receive higher monsoon rainfall than previously forecast as concern over the El Nino weather condition has eased.

The BSE Sensex ended at 30587.36, up by 265.24 points or 0.87% after trading in a range of 30363.37 and 30590.71. There were 22 stocks advancing against 8 stocks declining on the index. The broader indices ended in green; the BSE Mid cap index was up by 0.27%, while Small cap index was up by 0.36%.

The CNX Nifty ended at 9509.70, up by 64.30 points or 0.68% after trading in a range of 9456.35 and 9517.20. There were 36 stocks advancing against 15 stocks declining on the index

*MARKET INDICATORS*			·
*Top Movers (Group A)*
*Company*	Cmp	% chg
*Gainers*
*Unitech*	6.19	11.13
*J&KBank*	88.65	8.71
*KEC*	247.95	7.31
*Indhotel*	144.35	5.17
*Losers*
*CholaFin*	1016.95	-3.10
*IL&Fstrans*	114.20	-2.89
*Godrejcp*	1876.05	-2.61
*Bharatfin*	790.85	-2.36

INDEX PERFORANCE
*Index*	*Close*	*% Chg*
*Sensex*	*30,582.60*	*0.86*
*Nifty*	*9,512.25*	*0.71*

Crporate Front:

The Indian Government has said that it is planning to build multimodal logistic parks at 15 places across the country with an investment of Rs 33,000 crore. As per reports, the National Highways Authority of India (NHAI) inked a pact with the Tamil Nadu government for one such park. The NHAI signed anMoU with the Tamil Nadu Industrial Development Corporation Ltd (TIDCO) in New Delhi today, for the development of a multimodal logistics park in the Ponneri Industrial Node area near Kamarajar Port in Tamil Nadu.

Macroeconomic front:The Reserve Bank of India today fixed the reference rate of the rupee at 64.0758 against the US dollar and 70.5539 for the euro. The corresponding rates were 64.1188 and 70.1332, previously. According to an RBI statement, the exchange rates for the pound and the yen against the rupee were 82.7795 and 56.52 per 100 yens, respectively, based on reference rates for the dollar and cross-currency quotes at noon.

On the global front:

On the global front, European markets were trading in green, as investors look beyond global cybersecurity threats and the latest North Korean missile test. Asian markets were also trading in green. Back home, in scrip specific development, Fortune Financial Services (India) edged higher after the company acquired 49,00,000 equity shares of Rs 10 each fully paid of ITI Gilts (earlier known as Crest Debt Capital Markets). The Company was already holding 51% of the paid up capital of ITI Gilts and now on acquisition of these 49,00,000 equity shares, ITI Gilts has become a wholly owned subsidiary of the company.

Commodity Updates:

*Commodity Prices (MCX):*
*Commodity*	Rs	*% Chang*
*Gold*	*28028.00*	*0.33*
*Silver*	*38672.00*	*0.44*
*Crude oil*	*3153.00*	*0.13*
*Natural Gas*	*215.50*	*0.23*
*Alluminium*	*122.70*	*0.37*
*Copper*	*360.30*	*-0.35*

Top Sectoral& Stock Screening:The top gaining sectoral indices on the BSE were Telecom up by 1.90%, TECK up by 1.10%, IT up by 1.06%, FMCG up by 1.02% and Auto up by 0.99%, while Metal down by 0.61% was the sole loser on BSE.

Top Nifty Movers:The top gainers on Nifty were Hero MotoCorp up by 3.06%, ACC up by 2.86%, TCS up by 2.54%, BhartiAirtel up by 2.43% and Bank of Baroda up by 2.33%. On the flip side, Kotak Mahindra Bank down by 1.65%, Indiabulls Housing down by 1.10%, ONGC down by 0.88%, Mahindra & Mahindra down by 0.84% and Zee Entertainment down by 0.84% were the top losers.

Global Signals:

Asian markets were trading mostly in red; Hang Seng decreased 35.65 points or 0.14% to 25,335.94, Jakarta Composite decreased 22.57 points or 0.4% to 5,666.30, Taiwan Weighted decreased 5.33 points or 0.05% to 10,031.49 and FTSE Bursa Malaysia KLCI decreased 4.19 points or 0.24% to 1,774.46. On the flip side, KOSPI Index increased 4.68 points or 0.2% to 2,295.33, Shanghai Composite increased 22.74 points or 0.74% to 3,112.96 and Nikkei 225 increased 49.97 points or 0.25% to 19,919.82.

European markets were trading mixed; UK’s FTSE 100 increased 22.68 points or 0.3% to 7,477.05 and Germany’s DAX increased 7.96 points or 0.06% to 12,815.00. On the flip side, France’s CAC decreased 19.89 points or 0.37% to 5,397.51.

Auto Sector -Research Report-Sharetipsnfo

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Sector Overview:

The big getting bigger – category leaders reinforce their dominance

* Demonetization puts brakes on growth of passenger cars and motorcycles.

* Value continues to migrate toward scooters and SUVs, driven by changing customer preferences.

* Uptrading in 2Ws/4Ws continues, as reflected in the increasing share of premium motorcycles and PVs priced more than ~INR800k.

* Category leaders getting stronger as competition hurts second/third ranked players more.

We took a deep dive into granular data on the Indian 2W/PV industry, observing continuance of bigger trends in FY17, along with increased dominance of category leaders in both 2W and 4Ws. While demonetization had stalled a revival, there are early signs of a 2W export market recovery. Key highlights:

Sector Growth Outlook:

Demonetization puts brakes on recovery, especially of 2Ws

Demonetization had stalled the recovery in the auto sector, primarily impacting the 2W segment due to its higher exposure to the rural market and lower financing penetration. Between November 2016 and March 2017, while PV volume growth slowed to 6% (v/s +11% over Apr-Oct 2016), 2W volumes fell 6% (v/s +16% over Apr- Oct 2016). However, we note that normalcy has been restored in PVs (volumes up ~10% in March 2017) and 2Ws have recovered to record flat YoY growth.

Value migration toward scooters/SUVs continues

The structural trend of customers preferring scooters in 2Ws and SUVs in 4Ws continued in FY17. Scooters’ share increased to ~31.8% of 2W volumes (+120bp YoY). Similarly, SUVs continued to grow faster than the PV industry (32% growth in UVs v/s +9.2% in domestic PVs), increasing its share to 24.8% of domestic PVs (+420bp YoY).

Premiumization continues in both 2Ws/4Ws

The trend of premiumization continued in both 2Ws and 4Ws, with customers upgrading to relatively premium products. In 2Ws, motorcycles >150cc grew by 22%, driving up the share of premium 2Ws by 190bp to 15.4% of domestic 2W volumes. In PVs, volumes of vehicles priced INR800k & above grew ~22% YoY, translating into a higher share of products priced INR800k & above to 41% (+100bp).

Investment Rationals:

The big getting bigger: Category leaders gaining further dominance

Category leaders further strengthened their dominance in FY17, despite intensifying competition . In the executive segment, HMCL’s market share improved to 72% (v/s 61% three years back), despite the entry of TVS Victor. In scooters, HMSI’s market share expanded to ~57% (+170bp YoY), at expense of HMCL (-220bp) and TVS (- 60bp). In PVs, MSIL gained market share for the fifth consecutive year (since Manesar issue), now commanding ~47.4% share of the domestic PV industry.

New launches drive PV industry growth

FY17 domestic PV volumes grew 9.2% to 3.05m units, driven by ~30% growth in UVs and ~4% in cars. New products (including ramp-up of last year’s launches) drove entire growth, with 185% share of incremental volumes. The key volume drivers were Brezza, Baleno, Tiago, Kwid and Ignis.

2W exports showing signs of recovery; other players eating into market share of Bajaj Auto

After a prolonged period of weakness since 2HFY16, 2W exports are showing signs of recovery with ~12.5% growth in 4QFY17 (v/s -6% in FY17). With all the relevant players focusing on exports, the share of Bajaj Auto has reduced 660bp to ~52% of 2W exports (motorcycle export share shrunk by 580bp to 60%). HMSI gained the most, with a 400bp increase in exports share to ~12%.

Conclusion:

Valuation and view

We prefer 4Ws over 2Ws/CVs due to stronger volume growth and a stable competitive environment. Our top picks are Tata Motors, Maruti Suzuki and Amara Raja. We also believe that MM is an attractive play on a rural market recovery.

Global indices consolidate as gold rises with North Korean missile test, while US data indicates Federal Reserve on track to raise rates in June.

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Indian Indices: Asian indices opened mildly with losses as North Korea conducting missile test over the weekend witnessed sentiment turn weak. This even as US data indicates the Federal Reserve would raise rates in June, which has seen the bond yields rise to over 2.42% on the US 10 year bond. This week should see some caution initially with any dip being a chance to buy as the global bull market remains intact.

Nifty hit 9450 and reacted sharply during midsession to close around 9400 with foreign buying being matched by local selling. Banks both Private and PSU bore the brunt of selling while Auto, Realty and select IT saw fresh buying. For today expect mixed reaction on the index while stock/sector outperformance may continue as local profit booking gathers momentum.

The BSE Sensex is currently trading at 30317.57, up by 129.42 points or 0.43% after trading in a range of 30273.62 and 30357.96. There were 22 stocks advancing against 8 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index was up by 1.03%, while Small cap index was up by 0.74%.

The CNX Nifty is currently trading at 9442.25, up by 41.35 points or 0.44% after trading in a range of 9423.10 and 9445.35. There were 34 stocks advancing against 17 stocks declining on the index.

MARKET INDICATORS			·
*Group ATopGainers*
*Company*	Price (Rs)	% chg
*Pel*	2925.00	12.09
*Net Work18*	52.25	7.29
*CUB*	183.00	5.48
*CGPower*	96.10	5.43
*Group ATopLosers*
*Idea*	85.50	-7.04
*UCOBank*	39.30	-5.42
*Titan*	477.00	-3.54
*Glenmark*	731.80	-3.63

INDEX PERFORMANCE
*Indices*	*Support*	*Resistanes*
*Sensex*	*30065*	*30350*
*Nifty*	*9355*	*9436*

Technical view: Nifty found strong support around 9372, which was Friday's low and will act as initial support on the downside while 9450 will act as resistance on the upside. Bank Nifty also finds strong support around 22550 while 22800 will now act as resistance on the upside.

MothersonSumi (BUY Above 415 with Stop Loss at 407 for Target of 430): The stock has been in a solid uptrend for the past five months. On analysing the daily chart, Motherson was stuck in a narrow trading range for the past two weeks; however, the stock has finally broken out from this gestation period and has given a continuation pattern breakout. The price outburst has been accompanied with increase in volumes, which further accentuates out bullish stance on the stock.

Derivative Snippets

Infosys has deferred salary hikes for employees to July and even later in case of senior executives as the Indian tech industry struggles to cope with uncertain environment and visa-related issues in key markets like the US.

In the last trading session, markets closed on a negative note dragged by banking stocks. Nifty ATM/OTM call and put option strikes saw short selling, indicating of a trading range between 9300-9500. Bank Nifty 23000 CE saw some unwinding of long positions, making 23000 levels as an important resistance for the index.

FIIs were net buyers in cash market segment to the tune of Rs 842 Cr.FIIs index future long short ratio at 2 x v/s 2.3x.

Nifty Movers: The top gainers on Nifty were Hindalco up by 3.82%, Tata Steel up by 2.61%, Dr. Reddy’s Lab up by 2.32%, Ultratech Cement up by 1.92% and Kotak Mahindra Bank up by 1.90%. On the flip side, Infosys down by 1.47%, BhartiInfratel down by 1.45%, AurobindoPharma down by 0.99%, Eicher Motors down by 0.66% and Wipro down by 0.60% were the top losers.

Top Sectoral& Stock Screening: The top gaining sectoral indices on the BSE were Metal up by 1.79%, Basic Materials up by 1.65%, Realty up by 1.28%, Bankex up by 0.94% and Utilities up by 0.84%, while Consumer Durables down by 1.02%, Telecom down by 0.85%, IT down by 0.70% and TECK down by 0.66% were the losing indices on BSE.

On the global front: On the global front, Asian shares were trading mostly in green, despite headwinds from a weekend missile test by North Korea and concerns over further spread of ransomwarecyberattacks globally. China’s factory output and fixed asset investment growth cooled more than expected in April, adding to signs that momentum in the world’s second-biggest economy is slowing from a strong start in the first quarter.

Global Signals:The Asian markets were trading mostly in green; KOSPI Index increased 1.89 points or 0.08% to 2,287.91, Shanghai Composite increased 7.84 points or 0.25% to 3,091.35, Taiwan Weighted increased 35.68 points or 0.36% to 10,022.50 and Hang Seng increased 149.17 points or 0.59% to 25,305.51.On the other hand, Nikkei 225 decreased 34.46 points or 0.17% to 19,849.44, Jakarta Composite decreased 15.74 points or 0.28% to 5,659.47 and FTSE Bursa Malaysia KLCI decreased 2.2 points or 0.12% to 1,773.67.

US stocks recover intraday losses as Oil hits 6 month lows, undertone remains cautious as all eyes on jobs data due today with yields rising despite weakness in commodities.

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Indian Indices: Asian indices opened flat as most markets recovered intraday losses yesterday and will trade with caution ahead of the jobs data from the US and weakness in energy stocks. With the Japanese 'Nikkiei' closed for holidays the other markets are seeing huge divergences with the Chinese index losing ground while South Korea and India hitting new highs daily.

Nifty saw a strong break above 9350 with PSU banks and large corporate lenders leading even while commodity stocks lead the decline. Foreign investors selling continues to be a dampener with now 'euphoric' local mutual funds buying sending mid and small cap stocks into extremely stretched valuation zones. For today, expect Nifty to settle around all time highs while mid-cap stocks to continue to outperform with financials being the clear outperformers.

The BSE Sensex is currently trading at 29977.95, down by 148.26 points or 0.49% after trading in a range of 29972.13 and 30176.55. There were 10 stocks advancing against 20 stocks declining on the index. The broader indices were trading in red; the BSE Mid cap index declined 0.23%, while Small cap index was down by 0.07%.

The CNX Nifty is currently trading at 9319.65, down by 40.25 points or 0.43% after trading in a range of 9317.05 and 9377.10. There were 17 stocks advancing against 34 stocks declining on the index.

MARKET INDICATORS			·
*Group ATopGainers*
*Company*	Price (Rs)	% chg
*Federalbnk*	119.35	6.18
*Canbk*	409.35	5.22
*CentralBak*	115.60	5.14
*Finolexind*	577.00	4.30
*Group ATopLosers*
*HCC*	43.80	-5.71
*Tatacomm*	668.05	-5.20
*Vedl*	222.00	-4.50
*Hindalco*	185.70	-3.48

INDEX PERFORMANCE
*Indices*	*Support*	*Resistanes*
*Sensex*	*29940*	*30151*
*Nifty*	*9320*	*9365*

Technical view: Nifty now finds strong support around 9300 while 9400 will be the first resistance on the upside. Bank Nifty is in blue sky territory and can see 23000 where there will be resistance, while 22500 will act as strong support on the downside.

Pidilite Industries (BUY Above 740 for Target of 760, Stop Loss at 725): The stock has broken out from a consolidation phase on the daily chart. The breakout has been accompanied with smart increase in volumes. Other oscillators are indicating that the current momentum is likely to prolong. We advise to Buy Pidilite for Target of Rs 760. Keep strict Stop Loss at Rs 725.

Derivative Snippets

Baba Ramdev-led Patanjali clocked a turnover of Rs 10,561 crore in 2016-17 and intends to become the largest Swadeshi company in the next 1-2 years. It aims to double its turnover and will invest about Rs 5,000 crore in setting up five new plants.

In the last trading session, markets continued to surge higher as ICICI Bank shimmered. Nifty Bank Future continued to form long positions as the open interest surged higher along with rising cost of carry. Huge short selling was witnessed in Nifty Bank 22500 monthly expiry put option strike along with long formation in 23000 call option strike, indicating of a continuation of this up trend.

FIIs were net sellers in cash market segment to the tune of Rs 601 Cr.FII’s index future long/short ratio at 4.3x vs 5x.

Nifty Movers: The top gainers on Nifty were Asian Paints up by 1.62%, Eicher Motors up by 1.27%, Indiabulls Housing up by 1.11%, Adani Ports up by 1.09% and Coal India up by 1.09%. On the flip side, Hindalco down by 4.13%, GAIL India down by 2.12%, ONGC down by 2.01%, Infosys down by 1.29% and Larsen & Toubro down by 1.27% were the top losers.

Top Sectoral& Stock Screening: The few gaining sectoral indices on the BSE were Consumer Durables up by 1.14%, Consumer Disc up by 0.17%, Bankex up by 0.05% and Energy up by 0.04%, while Metal down by 1.75%, Basic Materials down by 1.03%, FMCG down by 0.91%, Capital Goods down by 0.88% and Utilities was down by 0.74% were the top losing indices on BSE.

On the global front: On the global front, Asian markets were exhibiting mixed trend, with the Chinese market sliding for the fourth consecutive day, approaching near a level that would wipe out all of this year’s gains. The US markets remained in consolidation mood and made another flat closing in the last session.

Global Signals: Asian markets were trading mixed; FTSE Bursa Malaysia KLCI rose 3.2 points or 0.18% to 1,761.87, Jakarta Composite increased 8.73 points or 0.15% to 5,678.17 and KOSPI Index was up by 21.57 points or 0.97% to 2,241.24.

On the flip side, Hang Seng declined 287.03 points or 1.16% to 24,396.85, Taiwan Weighted decreased 47.02 points or 0.47% to 9,920.62 and Shanghai Composite was down by 21.27 points or 0.68% to 3,106.10.

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