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IPO- BSE Limited issue opens on 23rd January

21. January 2017 Sharetipsinfo Stock Market Research (0)

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The issue opens on January 23, 2017 and closes on January 25, 2017

BSE Limited is the owner and operator of the Bombay Stock Exchange (BSE), India's largest stock exchange by number of companies listed. The BSE was established in 1875 as the first stock exchange in Asia. Today, the BSE has more than 5,000 companies listed on it - the highest in any exchange around the world. The world's two leading global exchanges, Deutsche Bourse and Singapore Exchange are strategic partners in BSE Limited.

The issue opens on January 23, 2017 and closes on January 25, 2017

Details of the BSE IPO

Issuer: BSE Limited

Issue opening date: January 23, 2017

Issue closing date: January 25, 2017

Price band: Rs805 to Rs806 per share

Lot size: 18 equity shares and in multiple thereafter

Issue size: Rs1,241.89 crore to Rs1,243.43 crore

Issue allocation: QIB - 50%; NIB - 15%; Retail - 35%

Mode of payment: ASBA is mandatory (cheques will not be accepted)

GCBRLMs: Edelweiss Financial Services Ltd, Axis Capital Ltd, Jefferies India Pvt Ltd and Nomura Financial Advisory and Securities (India) Pvt Ltd

BRLM: Motilal Oswal Investment Advisors Pvt Ltd, SBI Capital Markets Ltd and SMC Capitals Ltd

Registrar: Karvy Computershare Pvt Ltd

Listing: Proposed to be listed on the National Stock Exchange

Company’s competitive strengths

Strong brand equity with a track record of innovation
Diversified and integrated business model; active relationship with market participants
State-of-the-art infrastructure and technology
Financial strength and diversified sources of revenue
About the company
BSE Limited is the owner and operator of the BSE, India's largest stock exchange by number of companies listed. The BSE was established in 1875 as the first stock exchange in Asia. The BSE is one of India's leading exchange groups. Today, the BSE has more than 5,000 companies listed on it - the highest in any exchange around the world. The companies listed on the BSE command a total market capitalisation of $1.64 trillion as of September 30, 2015. The world’s two leading global exchanges, Deutsche Bourse and Singapore Exchange, are strategic partners in BSE Limited.
The BSE offers trading in Equity, Debt, Derivatives, Mutual Funds and SME Equity. The S&P BSE Sensex is India's most widely tracked stock market benchmark. The BSE also offer services such as Risk Management, Clearing, Settlement, Market Data services, IT services & solutions, and licensing index products like the S&P BSE Sensex. The BSE also provides depository services through its arm Central Depository Services Ltd (CDSL).
Objects of the issue
- To achieve the benefits of listing the equity shares on NSE and;
- For the sale of equity shares by the selling shareholders.
FAQs on IPO
1. What is an IPO or public issue?
An initial public offering (IPO)/public issue is when an unlisted company makes either a fresh issue of securities or an offer for sale of its existing securities or both for the first time to the public. This paves the way for listing and trading of the issuer’s securities.
The shares are initially issued in the primary market at an offering price determined by the lead manager(s)/the merchant banker(s) to the IPO.
The primary market consists of a syndicate of investment banks and broker dealers that the lead managers assemble and that allocate shares to institutional, high net worth individuals (HNI) and individual/retail investors.
2. What is a price band?
As far as IPOs are concerned, a price band is a value-setting method whereby a seller indicates an upper and lower cost range, between which the buyers/investors are able to place their bids. The price band's floor and cap provide guidance to the buyers.
3. Who decides the price band?
It is up to the company to decide on the IPO price or the price band, in consultation with the lead managers.
The basis of IPO price is disclosed in the offer document. The issuer is required to disclose in detail about the qualitative and quantitative factors justifying the IPO price.
4. How is the IPO price determined?
The IPO price is normally based on such factors as the company’s financials, products and services, income stream as well as the demand for the shares and current market conditions.
The lead managers must determine a fair offering price, which takes into consideration the need for the company to raise capital while offering the new issue at a price which represents a fair value of the shares.
5. What is a Red Herring Prospectus?
A Red Herring Prospectus (RHP) is a document submitted by a company (issuer) as part of a public offering or an IPO of securities (either stocks or bonds).
6. Who is a retail investor as far as IPO is concerned?
A retail individual investor means an investor who applies or bids for securities of or for a value of not more than Rs 2,00,000.
7. Can a retail investor also bid in a book-built IPO?
Yes. He can bid in a book-built IPO for a value not more than Rs 2,00,000. Any bid made in excess of this will be considered in the HNI category.
8. Can bids in a book-built IPO be changed/revised?
Yes. Investors can change or revise the quantity or price in the bid using the form for changing/revising the bid that is available along with the application form. However, the entire process of changing or revising the bids shall be completed before the IPO closes.
9. How can investors know the number of shares allotted to them?
In case of fixed price issues, investors are intimated about the CAN/Refund order within 10 days of the closure of the IPO.
In case of book built IPOs, the basis of allotment is finalised by the book-running lead managers within two weeks from the closure of the issue. The registrar then ensures that the demat credit or refund as applicable is completed within 6 working days of the closure of the issue.
10. Which are the reliable sources for me to get information about response to IPOs?
In the case of book-built issues, the exchanges (Bombay Stock Exchange/National Stock Exchange) display the data regarding the bids obtained (on a consolidated basis between both these exchanges).
The data regarding the bids is also available category-wise.
11. How do I know if I am allotted shares? And by what timeframe will I get a refund if I am not allotted?
Investors are entitled to receive a Confirmatory Allotment Note (CAN) in case they have been allotted shares within 6 working days from the closure of a book Built issue. The registrar has to ensure that the demat credit or refund as applicable is completed within 6 working days of the closure of the book-built issue.
The lead managers also publish an advertisement at least in an English national daily with wide circulation, one Hindi national paper and a regional language daily circulated at the place where registered office of the issuer company is situated.
12. How long will it take after the issue for the shares to get listed?
The listing on the stock exchanges is done within seven days from the finalisation of the issue.
Ideally, it would be around three weeks after the closure of the book-built issue.
In case of fixed price issue, it would be around 10 days after closure of the issue.

Global cues turn subdued with all eyes on Trump swearing in & Federal Reserve outlook on rates!!

20. January 2017 Rohit Stock Market Research (0)

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Major headlines:

· Government to infuse Rs 1894 cr in SBI.

· BhartiAirtel plans to raise funds via debentures bonds

· Mahindra & Mahindra acquires 75% stake in Turkish company

INDEX PERFORMANCE
*Indices*	*Support*	*Resistanes*
*Sensex*	*8389*	*8488*
*Nifty*	*27380*	*27504*

Indian Indices: Asian indices opened weak with overnight US weakness playing out as all eyes now focus on President Trump swearing in & the rhetoric of raising rates by the Federal Reserve.US$ gave up early gains as profit booking re emerged ahead of the 20th January big event. Oil & Gold prices remained subdued while stocks sold off a bit more as investors raised cash.

Nifty continues to trade range bound above 8400 with corporate results seeing stock specific reaction even as the broader market remains in a tight range. With Nifty trading above 8400 & Bank Nifty above 19000 we could see today the highest weekly close in over 2 months which could see further 'short' covering next week with 4 days to go for January derivative expiry.

The BSE Sensex is currently trading at 27201.63, down by 106.97 points or 0.39% after trading in a range of 27176.32 and 27264.41. There were 10 stocks advancing against 20 stocks declining on the index.The broader indices were trading in red; the BSE Mid cap index was down by 0.19%, while Small cap index was down by 0.05%.The CNX Nifty is currently trading at 8407.20, down by 27.90 points or 0.33% after trading in a range of 8397.05 and 8423.65. There were 19 stocks advancing against 32 stocks declining on the index.

MARKET INDICATORS			·
*Group ATopGainers*
*Company*	Price (Rs)	% chg
*RTNPower*	7.30	5.64
*Havells*	400.80	3.78
*GPPl*	140.70	3.61
*Suzlon*	17.67	2.97
*Group ATopLosers*
*Axisbank*	457.20	-5.48
*Muthootfin*	296.25	-2.81
*Cyient*	464.35	-2.73
*IIFL*	275.00	-2.59

Market Statistics
	BSE	NSE
*Advances*	*994*	*1168*
*Declines*	*1160*	*307*

Technical view: Nifty now finds support around 8370 while 8440 continues to see resistance on the upside. Bank Nifty also needs to close over 19250 while 19000 will act as strong support.

Market Sentiment:

The market breadth on BSE was negative in the ratio of 994:1160, while 143 scrips remained unchanged.

Trading ideas :GAIL Limited (Buy above Rs 465 for target of Rs 482, SL at Rs 456.5): The stock has broken out from a classic rising channel pattern which indicates a beginning of a bullish phase for the stock. Other momentum oscillators indicate strength in the current up move. Impressive expansion in trading volumes accompanied with piercing of previous peaks further accentuates out bullish stance on the stock.

MacroeconomicFront: The Indian Government has said that it is now going to introduce a new Aadhaar-based digital payment system for the common man soon. Commenting on the issue, IT Minister Ravi Shankar Prasad said, “This unique payment initiative will be based on the thumb impression, verified through the Aadhaar identification for safety and security of the easier payment system for the common man.

Corporate Snippets:

Reliance Industries ltd has written down Rs 395.70 bn in value of its oil and gas assets including the flagging KG D6 block and US shale gas projects, in view of change in accounting policy.

Idea Cellular has filled a plea against the telecom regulator with the Telecom Disputes Settlement Appellate Tribunal and sought quashing of Reliance Jioinfocomm’s Happy New Year offer, mirroring market leader BhartiAirtel’s complaint filed late last year.

Havells India is looking at mid sized acquisition focusing on emerging markets even as it plans to expand its domestic presense by foraying into the personal grooming space.

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Top Sectoral& Stock Screening: The top gaining sectoral indices on the BSE were FMCG up by 0.21% and Realty up by 0.04%, while Bankex down by 0.76%, IT down by 0.61%, Oil & Gas down by 0.58%, PSU down by 0.53% and Power down by 0.50% were the losing indices on BSE.

Nifty Movers:The top gainers on Nifty were Idea Cellular up by 3.03%, BhartiAirtel up by 2.27%, Yes Bank up by 1.82%, Cipla up by 1.32% and Grasim Industries up by 1.09%. On the flip side, Axis Bank down by 5.69%, Tata Motors - DVR down by 1.97%, ICICI Bank down by 1.85%, BhartiInfratel down by 1.47% and Power Grid down by 1.04% were the top losers.

On the global front: On the global front, Asian shares were trading mostly in red, even as China’s fourth-quarter economic growth beat expectations and Federal Reserve Chair Janet Yellen took a less hawkish policy stance. China’s economy grew a faster-than-expected 6.8 percent in the fourth quarter, boosted by higher government spending and record bank lending, giving it a solid tailwind heading into what is expected to be a turbulent 2017.

Global Signals: The Asian markets were trading mostly in red; Hang Seng decreased 157.25 points or 0.68% to 22,892.71, Jakarta Composite decreased 31.3 points or 0.59% to 5,267.65, KOSPI Index decreased 3.82 points or 0.18% to 2,068.97 and FTSE Bursa Malaysia KLCI decreased 1.26 points or 0.08% to 1,665.25.On the other hand, Taiwan Weighted increased 17.39 points or 0.19% to 9,335.51, Shanghai Composite increased 18.69 points or 0.6% to 3,119.99 and Nikkei 225 increased 71.44 points or 0.37% to 19,143.69.

Pull back rally in US$ with bond yields rising sharply as Federal Reserve indicates higher rates as economy on stronger footing!!

19. January 2017 Rohit Stock Market Research (0)

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Major headlines:

· All aircrafts complaint with noise standard requirments:

· FIMI seeks abolition of export duty on low grade iron

· Strong domestic demand to help Indian companies

INDEX PERFORMANCE
*Indices*	*Support*	*Resistanes*
*Sensex*	*8389*	*8488*
*Nifty*	*27380*	*27504*

Indian Indices: Asian markets saw a sharp rebound led by the Japanese 'Nikkei" index as weakness in Yen saw stocks bounce back sharply. Overnight Janet Yellen talked up the bond yields by indicating rate hikes to be on the cards as growth returns. Gold prices fell after a solid 7 day rally while oil prices remained weak.

Nifty saw a sharp intraday reversal after scaling 8460 in the morning session. Profit booking closer to the 100 DMA saw most stocks give up gains despite both local & foreign investors being buyers. Volatility ahead of the January expiry due next Wednesday may rise as markets digest the huge rally this month. For today expect test of 8500 on the cards as 8400 holds as strong support on the Nifty.

The BSE Sensex is currently trading at 27276.67, up by 19.03 points or 0.07% after trading in a range of 27219.89 and 27296.86. There were 17 stocks advancing against 13 stocks declining on the index.The broader indices were trading in green; the BSE Mid cap index gained 0.26%, while Small cap index was up by 0.21%.The CNX Nifty is currently trading at 8417.90, up by 0.90 points or 0.01% after trading in a range of 8405.95 and 8427.90. There were 24 stocks advancing against 27 stocks declining on the index.

MARKET INDICATORS			·
*Group ATopGainers*
*Company*	Price (Rs)	% chg
*Hindcopper*	67.50	3.69
*TTKPrestig*	5993.85	3.65
*Vrllog*	300.60	3.37
*Tatacomm*	691.35	2.60
*Group ATopLosers*
*KPIT*	139.75	-3.59
*Deltacorp*	129.20	-2.38
*Balkrisind*	1151.15	-2.05
*CEAT ltd*	1186.50	-1.90

Market Statistics
	BSE	NSE
*Advances*	*1308*	*1168*
*Declines*	*567*	*307*

Technical view: Nifty finds strong resistance around 8460 which if crossed can see Nifty test 8520 in the next 2 days. Bank Nifty also has made a 'higher top, higher bottom' pattern & can extend the rally upto 19500 with 19050 being the key support.

Market Sentiment:

The market breadth indicating the overall health of the market was strong, with 1,072 shares gaining and 910 shares declining, while a total of 125 shares were unchanged.

Trading ideas: Sonata Software (Buy above Rs 214 for target of Rs 225, SL at Rs 208.5): The stock has shown impressive momentum in the past two days. Sonata broke out from a double bottom pattern on Monday followed by a break out above its previous all time peak of Rs 209.7. This move has been accompanied with expansion in trading volumes too. On analysing weekly chart, Sonata has also broken out from a consolidation channel pattern breakout indicating a larger move is on the card.

MacroeconomicFront: Small businesses in the country maintain a positive outlook for the future in terms of business confidence and employment growth, a joint report by Facebook, OECD and World Bank said as per the PTI report. Amongst the businesses surveyed, 48 per cent of the small and medium enterprises (SMEs) are positive about the current state, while 62 per cent are positive about the future.

Corporate Snippets: Reliance Industries and Russian petrochemical giant Sibur have signed an agreement to set up South Asia’s first buty rubber halogenation unit at jammnagar in Gujarat.

Cipla said its subsidiary GoldencrossPharma has entered into a pact to sell its entire stake in four M propack to shriji Polymers for a consideration of up to Rs 192 mn.

Zee Entertainment Enterprises Ltd has signed a deal for four television series with the international content distributor, Eccho Rights.

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Top Sectoral& Stock Screening: The top gaining sectoral indices on the BSE were Oil & Gas up by 1.10%, Consumer Durables up by 0.72%, PSU up by 0.34%, FMCG up by 0.31% and Capital Goods was up by 0.23%, while Metal down by 0.73%, Bankex down by 0.42%, Power down by 0.17% and IT was down by 0.01% were the few losing indices on BSE.

Nifty Movers:The top gainers on Nifty were Idea Cellular up by 2.37%, BPCL up by 1.70%, Tata Motors up by 1.58%, Tata Motors - DVR up by 1.49% and BhartiAirtel up by 1.19%. On the flip side, Hindalco down by 1.58%, Ultratech Cement down by 1.16%, Axis Bank down by 1.14%, Tata Steel down by 1.04% and Indusind Bank down by 0.84% were the top losers.

On the global front: On the global front, Asian markets were trading mostly in red at this point of time tailing weak overnight cues from Wall Street, though the Japanese market has bounced back with yen falling against the dollar after Janet Yellen said the American economy is strong enough to warrant higher interest rates. The US markets showed a lackluster trade and ended mixed in last session, mainly due to uncertainty about President-elect Donald Trump's policies ahead of his inauguration on Friday.

Global Signals:Asian markets were trading mostly in red; Hang Seng declined 136.27 points or 0.59% to 22,961.99, Taiwan Weighted shed 15.82 points or 0.17% to 9,326.15, Shanghai Composite slipped 1.81 points or 0.06% to 3,111.20, FTSE Bursa Malaysia KLCI dipped 1.26 points or 0.08% to 1,663.76 and KOSPI Index was down by 0.1 points or 0% to 2,070.44.On the flip side, Jakarta Composite rose 7.49 points or 0.14% to 5,302.27 and Nikkei 225 was up by 134.58 points or 0.71% to 19,028.95.

Global markets head for consolidation as trepidation over recent rally & UK Pound weakness see profit booking

16. January 2017 Rohit Stock Market Research (0)

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Major headlines:

· Moody’s reaffirms yes bank’s rating at Baa 3/ P-3

· Oil prices edge up on weaker dollar expected crude output cuts

· Government may increase FDI limit to 49% in print media sector

INDEX PERFORMANCE
*Indices*	*Support*	*Resistanes*
*Sensex*	*8338*	*8430*
*Nifty*	*27020*	*27295*

Indian Indices: Asian markets opened weak after the UK pound tumbled sharply & hurt sentiment as the UK Prime Minister indicated a 'hard brexit' coming soon. That coupled with the recent rally in equities globally saw profit booking emerge strongly as investors sold stock & raised cash. Gold prices rallied while US bond yields fell along with the US$.

Nifty seems to hit resistance around the 100 DMA placed @ 8441 with profit booking emerging after the stellar rally of last 2 weeks. With expiry due next week expect consolidation this week with 8350-8450 being the range. For today expect profit booking in metals, auto & commodities while banks, financials & materials could head higher.

The BSE Sensex is currently trading at 27275.98, up by 37.92 points or 0.14% after trading in a range of 27172.68 and 27301.38. There were 16 stocks advancing against 14 stocks declining on the index. The broader indices were trading in green; the BSE Mid cap index was up by 0.35%, while Small cap index was up by 0.50%.

The CNX Nifty is currently trading at 8403.90, up by 3.55 points or 0.04% after trading in a range of 8374.40 and 8414.95. There were 30 stocks advancing against 21 stocks declining on the index.

MARKET INDICATORS			·
*Group ATopGainers*
*Company*	Price (Rs)	% chg
*DEN*	86.70	7.37
*DLF*	130.20	4.90
*HDIL*	65.20	4.24
*Hindzinc*	286.65	3.48
*Group ATopLosers*
*DBcorp*	361.565	-3.97
*Network 18*	35.95	-2.18
*ICRA*	3960	-2.15
*Cox & Kings*	622.45	-1.91

Market Statistics
	BSE	NSE
*Advances*	*920*	*1168*
*Declines*	*1230*	*307*

Technical view: Nifty finds strong support around 8320 while 8441 continues to act as strong resistance. Bank Nifty has been the steady outperformer with 18441 acting as strong support while 19058 which is the 100 DMA will act as strong resistance.

Market Sentiment:

The market breadth on BSE was negative in the ratio of 920:1230, while 129 scrips remained unchanged.

Trading ideas: ITC (Buy above Rs 251 for target of Rs 246.5, SL at Rs 260): The stock has showing tremendous strength in the past week. ITC has also recovered sharply after finding support around its 100-DMA. If the stock manages to close above Rs251 then we expect a rising wedge pattern breakout which would take the stock higher towards the Rs258-260 mark in short term.

MacroeconomicFront: The Indian Government has said that it is considering a proposal to increase foreign direct investment (FDI) limit in print media sector to 49 per cent from 26 per cent at present. Currently, the FDI policy permits 26 per cent foreign direct investment in the publishing of newspapers and periodicals dealing with news and current affairs through government approval route.

Corporate Snippets:Lupin has launched its generic version of morphine sulfate ER tablets used for the management of servere pain in the US market.

HERO MOTOCORP forayed into the Argetinian market with the global launch of its 125 CC bike new Glamour as part its aggressive global expansion plans.

Tata Steelhas offered to pay hundreds of millions of pounds to its pension scheme to release a guarantee the fund holds over its Dutch assets, as the Indian firm moves closer to merging its European assets with Germany's ThyssenKrupp.

Top Sectoral& Stock Screening: The top gaining sectoral indices on the BSE were Realty up by 2.25%, Consumer Durables up by 1.30%, Metal up by 1.13%, Bankex up by 0.35% and Capital Goods up by 0.32%, while IT down by 0.75%, TECK down by 0.47%, Oil & Gas down by 0.09% and FMCG down by 0.07% were the losing indices on BSE.

Nifty Movers: The top gainers on Nifty were Adani Ports & Special Economic Zone up by 2.26%, Tata Steel up by 2.23%, Idea Cellular up by 1.53%, Zee Entertainment up by 1.39% and Tata Motors up by 1.20%. On the flip side, HCL Tech down by 1.83%, Eicher Motors down by 1.67%, Infosys down by 1.64%, Tech Mahindra down by 0.86% and Sun Pharma down by 0.84% were the top losers.

On the global front: On the global front, Asian shares were trading mostly in red, on worries UK Prime Minister Theresa May might signal plans for a ‘hard Brexit’ in her speech on Tuesday. The Bank of Japan raised its economic assessment for three of the country’s nine regions in a quarterly report, saying that most areas were seeing a moderate economic recovery.

Global Signals: The Asian markets were trading mostly in red; Hang Seng decreased 242.75 points or 1.06% to 22,694.63, Nikkei 225 decreased 154.01 points or 0.8% to 19,133.27, Taiwan Weighted decreased 84.65 points or 0.9% to 9,294.18, Shanghai Composite decreased 43.83 points or 1.41% to 3,068.93, KOSPI Index decreased 14.71 points or 0.71% to 2,062.08 and FTSE Bursa Malaysia KLCI decreased 5.72 points or 0.34% to 1,666.78.On the other hand, Jakarta Composite increased 4.47 points or 0.08% to 5,277.45.

WEEKLY NIFTY TRADING VIEW FOR THE WEEK JAN16, 2016–JAN22, 2016

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Events to watch this week

December US core retail sales flat
China reports 2016 export drop
US small business optimism soars
World Bank projects modest 2017 growth uptick

The Week ahead:

US financial markets are closed for Martin Luther King Jr. Day on Monday, 16 January
The World Economic Forum in Davos begins on Tuesday, 17 January
The European Union reports consumer price data on Wednesday, 18 January
The United States reports consumer price data on Wednesday, 18 January
The European Central Bank holds a rate-setting meeting on Thursday, 19 January
China reports retail sales and gross domestic product figures on Friday, 20 January

For the week,Global equities extended gains this week as US financial firms kicked off the Q4 earning season with solid results. US 10-year Treasury note yields were steady at 2.42%. West Texas Intermediate crude dipped to $53 a barrel from $53.90 a week ago, and Global Brent crude dropped to $56 a barrel from $56.90. The Chicago Board Options Exchange Volatility Index (VIX) was steady at 11.20.

NIFTY- 8,400.35
CRUDE OIL-Rs 3,586barrel
GOLD-Rs 28,385 gram
Rs/$-Rs 68.16

MARKET ROUND UP

The market edged higher last week, backed by positive global cues. The Sensex crossed the psychologically important 27,000 level. India's industrial production surged at 13-months high pace of 5.7% in November 2016 over November 2015, snapping 1.8% fall recorded in October 2016. The manufacturing sector's production jumped 5.5%, while mining output rebounded 3.9% after three months of decline, contributing to the increase in industrial production. The data was released by the government after market hours on Thursday, 12 January 2017.In the week ended Friday, 13 January 2017, the Sensex rose 478.83 points or 1.79% to settle at 27,238.06. The Nifty 50 index rose 156.55 points or 1.90% to settle at 8,400.35.

The BSE Mid-Cap index gained 317.31 points or 2.58% to settle at 12,639.03. The BSE Small-Cap index 249.52 points or 2.01% to settle at 12,689.85. Both these indices outperformed the Sensex.

Macro Economic Front:

On the Economic Front,Finance Minister ArunJaitley, in his address on the second day of vibrant Gujarat Global Investors Summit on Wednesday, 11 January 2017, on demonetization, said that difficult decisions initially pass through difficult phases as historic decisions have temporary pain attached to them.

Stressing the implementation of the Goods and Services Tax (GST), Jaitley said that most of the issues have been resolved, few critical issues are left which will be resolved in the next few weeks. He further added that GST Council is deliberative democracy in action and the impact of both GST and demonetization will be felt this year.

Major Action &Announcement:

Tata Steel was top gainer in the Sensex pack last week. The stock rose 6.36% to Rs 446.40 last week after the company announced that its total sales rose 27.45% to 29.94 lakh tonne in Q3 December 2016 over Q3 December 2015. The growth in sales was enabled by higher sales in the automotive segment, branded products and value-added products & scaling up of sales in new segments. The announcement was made during market hours on Monday, 9 January 2017.

Auto major Tata Motors rose 3.38% to Rs 514.65. Tata Motors Group's global wholesales rose 4% to 95,081 units in December 2016 over December 2015. The announcement was made after market hours on Tuesday, 10 January 2017. Tata Motors' subsidiary Jaguar Land Rover reported 12% rise in total retail sales to 55,375 units in December 2016 over December 2015. The announcement was made during market hours on 9 January 2017.

Software major TCS fell 1.38% to Rs 2,252. The company's consolidated net profit rose 2.9% to Rs 6778 crore on 1.5% increase in revenue to Rs 29735 crore in Q3 December 2016 over Q2 September 2016. The result was announced after market hours on Thursday, 12 January 2017. The results are as per International Financial Reporting Standards (IFRS).

Infosys' consolidated net profit rose 2.8% to Rs 3708 crore on 0.2% fall in revenue to Rs 17273 crore in Q3 December 2016 over Q2 September 2016. The consolidated net profit rose 1.5% to $547 million on 1.4% fall in revenue to $2551 million in Q3 December 2016 over Q2 September 2016. The results are as per International Financial Reporting Standards (IFRS).

State-run NTPC advanced 4.36% to Rs 171.05 after the company signed a non-binding memorandum of understanding (MoU) with Rajasthan RajyaVidyutUtpadan and Rajasthan UrjaVikas Nigam for take-over of Chhabra thermal power plant stage-I (4x 250 MW) and stage-II (2x660 MW) of Rajasthan UrjaVikas Nigam. The announcement was made during market hours on Thursday, 12 January 2017.

US President-elect Donald Trump said in his first press conference late Wednesday, 11 January 2017 that pharmaceutical companies were getting away with murder with respect to drug pricing and promised a complete turnaround, making healthcare less expensive and better. He said that US is the largest buyer of drugs in the world, and yet, the country does not bid properly, prioritising bringing back drug industries back to the US. He added that US firms would start bidding and save billions. Trump also said he would repeal and replace Obamacarethe country's existing affordable healthcare legislation-shortly after price approvals, which could impact pharma companies.

Global Front:

In Overseas Markets,investors will look forward to the policies and actions of US President-elect Donald Trump, whose focus is on creating jobs and increasing spending in the US. If Trump's policies run into headwinds, then the domestic market may witness heightened volatility. China Q4 Gross Domestic Product (GDP) data for December 2016 will be announced on Monday, 16 January 2017. China's Industrial Production data for December 2016 will be announced on Monday, 16 January 2017.

UK Consumer Price Index (CPI) data for for December 2016 will be announced on Tuesday, 17 January 2017.

Global Economic News:

US holiday sales disappoint
US retail sales rose 0.6% in December, but were flat when excluding automobile and gasoline sales.

China’s 2016 exports fall
Exports from China fell for a second year amid persistent weakness in global trade. The possibility of disagreements with the United States over trade does not brighten the outlook for 2017. In 2016, exports fell 7.7% while imports slid 5.5%. There were some bright spots discernible, suggesting domestic demand is improving. Record amounts of oil, iron ore, copper and soybeans were imported in 2016.

Outlook upbeat for small businesses
The National Federation of Independent Businesses termed the jump in its small business optimism indicator “stratospheric” as the number of business owners who expect better business conditions jumped 38 points. The index rose to 105.8, its highest level since 2004. The increased optimism is leading to more business activity, such as capital investment, according to the group.

Global economy to expand 2.7% says World Bank
Despite stagnant global trade, subdued investment and heightened policy uncertainty, the World Bank expects global growth to expand at a 2.7% rate in 2017, up from 2.3% in 2016, a post-crisis low. Hoped- for fiscal stimulus from the US could generate fast growth, the bank said, though it cautioned that trade protection could have adverse effects.

Pace of US stimulus questioned
President-elect Donald Trump held a press conference this week but did not lay out a clear timeline or framework for the tax cuts and regulatory reforms he campaigned on. Markets are growing concerned that stimulus could come later than expected or be smaller in size than first envisioned. Trump did say that the Affordable Care Act would be repealed and replaced “essentially simultaneously.” The president-elect said that he would place his business interests in a trust and transfer control of his company to his two adult sons.

GLOBAL CORPORATE NEWS

BOE’s Carney: Brexit no longer biggest risk to stability
Bank of England governor Mark Carney said this week that Brexit is no longer the biggest single risk to financial stability in the United Kingdom. That’s a dramatic change in tune from the nation’s top central banker. Before the referendum in June, Carney warned of severe economic consequences if Britons voted to leave the European Union. Now, Carney says that the bank will very likely revise its economic forecast higher next month. The EU, Carney said, has more to lose from a “hard” Brexit than the UK.

NEW 52-WEEK HIGH BSE (A):

Adani Power	37.30
BEML	1245..00
NLINDIA	94.50

NEW 52-WEEK LOWS BSE (A):

RCOM

31.05

MAJOR WEEKLY GAINERS IN BSE A CATEGORY:

beml LTD	21.50
NLC INDIA	14.19
GUJMINERAL DEV	13.97

MAJOR WEEKLY LOSERS IN BSE A CATEGORY:

OIL INDIA LTD	-26.42
CADILA HEALTHCARE	-7.99
RELAINCE COMMU	-7.10

Eyes will be set on the certain US economic data releases are:

Monday (16 Jan)
All Markets Closed
Tuesday(17 Jan)
Week Bill Anouncement& Month Bill Auction

Wednesday(18 Jan)
Consumer Price Index &MBA Mortgage Applications
Thursday(19 Jan)
Jobless Claims& Natural Gas Report
Friday(20 Jan)
No Major Data

Fundamental Pick of the week:

BUY Tata power Ltd For Target Rs. 88.00

The stock rose to two and half month closing high post giving break-out from “Symmetrical Triangle” pattern.We believe the stock will surge in the near-term, as (i) substantial rise in volume on the break-out day and (ii) gradual rise in RSI & MACD post their positive cross-over is signaling strength in the stock and in favor of probable rebound.On the higher side, the stock will initially face resistance around prior swing high and monthly moving average thereafter.

Recommendation

Long position can be initiated in Rs79.50-79 range for target of Rs88 with a strict stop loss of Rs76.

Indian Market Outlook:

The Nifty opened higher and ended the trading session on a positive note. It is approaching significant resistance levels. The 20 Week Moving Average (WMA) and the 50% retracement of the fall from 8968 to 7893 are converging at around 8430. It would be interesting to see if the bears manage to defend the crucial resistance level of 8430 or not. If the Nifty breaks and sustains above 8430, then a move towards 8510-8560 is likely. However, the Index is losing momentum on the upside. The hourly momentum indicator is already showing a negative divergence and has also given a negative crossover. Therefore, some caution needs to be maintained while initiating fresh long positions. The bulls will gain momentum if the Nifty breaks and sustains above 8430. The Index is interestingly poised at this moment. It continues to make higher top and higher bottom, indicating that the current uptrend can persist in the near term. Traders holding long positions in the Nifty should trail stop loss, as the momentum is weakening.

TECHNICAL VIEW:

S3	S2	S1	NIFTY	R1	R2	R3
8,265	8,315	8,361	8,400.35	8,449	8,499	8,540

Conclusion:

Nifty continue its uptrend now range of 8430-8435 is very important zone of resistance,crossing the same rally can extend towards 8600. Taking resistance in zone we can see downmove towards 8250. High made today was 8417 and low 8382 and close at 8407. As we have weekly closing tomorrow so bulls will be happy to close above the gann resistance zone as shown in below chart,bears will be happy to close below 8380. Close above 8440 can see next round of upmove towards 8555/8598. Bears below 8370 can move back towards 8270-8250 range.

Happy Investing…..

Nifty ends above 8400, Sensex up over 100 pts:

12. January 2017 Rohit Stock Market Research (0)

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Major headlines

· India rubber prices jump to 2-1/2 year high:Tyre makers fall

· 8 NBFCs surrender their certificate of registration to RBI

· India, US ink agreement on cyber security cooperation

INDEX PERFORMANCE
*Index*	*Close*	*% Chg*
*Sensex*	*27,247.16*	*0.39*
*Nifty*	*8,407.20*	*0.32*

Indian Indices: Indian benchmark indices continued to trade in tight band with a gain of over quarter a percent in late afternoon session, led by IT stocks on hopes that U.S. President-elect Donald Trump may not proceed with stringent visa rules. Sentiments remained upbeat with Finance Minister ArunJaitley’s statement that the implementation of the Goods and Services Tax (GST), coupled with a digitised economy ushered in by demonetisation, will make India’s economy look much cleaner and bigger. On sectoral front, pharma sector stocks came under pressure with U.S. President Trump’s statement that the pharmaceutical companies are getting away with murder in what they charge the government for medicines, and promised that would change in his first presser.

On the global front, European markets were trading in red as U.S. President-elect Donald Trump's first press conference since winning the election proved to be a dampener for investors looking for clues on his tax and international trade policies. Asian markets were trading mostly in green.

The BSE Sensex is currently shut up at 27247.16, up by 106.75 points or 0.39% after trading in a range of 27166.69 and 27278.93. There were 16 stocks advancing against 14 stocks declining on the index.The broader indices were trading mixed; the BSE Mid cap index was up by 0.05%, while Small cap index was down by 0.14%.

The CNX Nifty is currently closed at 8407.20, up by 26.55 points or 0.32% after trading in a range of 8382.30 and 8417.20. There were 23 stocks advancing against 28 stocks declining on the index.

*MARKET INDICATORS*			·
*Top Movers (Group A)*
*Company*	Cmp	% chg
*Gainers*
*NHPC*	29.90	9.12
*NLINDIA*	91.50	8.93
*SJVN*	32.30	7.49
*AIAENG*	1401.00	6.67
*Losers*
*OIL*	348.15	-3.81
*Jubilant*	679.30	-3.80
*IDEA*	72.20	-3.22
*PVR*	1183.35	-3.04

*Market Statistics*
	*BSE*	*NSE*
*Advances*	1397	648
*Declines*	1190	811

Market Sentiment:

The market breadth on BSE was positive in the ratio of 1397: 1190, while 159 scrips remained unchanged.

Crporate Front:

Eight NBFCs have surrendered the certificate of registration granted to them by the Reserve Bank of India. The Reserve Bank of India, in exercise of the powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their Certificate of Registration.

Macroeconomic front:

The Ministry of Labour and Employment has extended the deadline by three months for companies and other commercial establishments to get registered with the Employees Provident Fund Organisation, reported PTI.

On the global front:

On the global front, European markets were trading in red as market participants waiting for clues on U.S. President-elect Donald Trump's tax policies and spending plans in the first news conference since winning office, to be held later today. Asian markets were trading mostly in green. Back home, in scrip specific development, IPCA Laboratories edged higher on the buzz of completing redemption of 2 formulation plants and SpiceJet gained after company clocked the highest industry OTP (On-time performance) at Delhi airport for December 2016.

Commodity Updates:

*Commodity Prices (MCX):*
*Commodity*	Rs	*% Chang*
*Gold*	*28480.00*	*0.64*
*Silver*	*41232.00*	*0.55*
*Crude oil*	*3580.00*	*-0.25*
*Natural Gas*	*226.40*	*1.48*
*Alluminium*	*121.20*	*1.38*
*Copper*	*398.95*	*1.45*

Top Sectoral& Stock Screening:The top gaining sectoral indices on the BSE were Power up by 3.08%, IT up by 1.45%, Capital Goods up by 1.38%, TECK up by 1.13% and PSU up by 1.08%, while FMCG down by 0.73%, Auto down by 0.34%, Metal down by 0.17% and Consumer Durables down by 0.02% were the top losing indices on BSE.

Top Nifty Movers:The top gainers on Nifty were NTPC up by 5.35%, Power Grid up by 4.16%, Tata Power up by 3.12%, Larsen & Toubro up by 2.66% and Infosys up by 2.21%. On the flip side, Idea Cellular down by 3.55%, Lupin down by 1.88%, AurobindoPharma down by 1.82%, Dr. Reddys Lab down by 1.54% and Coal India down by 1.53% were the top losers.

Global Signals:

Asian markets were trading mostly in green; FTSE Bursa Malaysia KLCI increased 4.27 points or 0.25% to 1,679.48, Jakarta Composite increased 6.62 points or 0.12% to 5,307.85, KOSPI Index increased 11.97 points or 0.58% to 2,087.14, Taiwan Weighted increased 16.82 points or 0.18% to 9,392.68 and Nikkei 225 increased 230.9 points or 1.23% to 18,996.37. On the flip side, Hang Seng decreased 106.33 points or 0.46% to 22,829.02 and Shanghai Composite decreased 17.46 points or 0.56% to 3,119.29.

All European markets were trading in red; Germany’s DAX decreased 70.13 points or 0.6% to 11,576.04, France’s CAC decreased 29.64 points or 0.61% to 4,859.07 and UK’s FTSE 100 decreased 23.96 points or 0.33% to 7,266.53.

President Trump speech ignites equities even as US$ sees selling with Oil rising sharply

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Major headlines:

· Government hopeful of achieving disinvestment target

· Demonestisation to have positive impact next fiscal

· Key Indian equity indices open higher

INDEX PERFORMANCE
*Indices*	*Support*	*Resistanes*
*Sensex*	*8338*	*8430*
*Nifty*	*27020*	*27295*

Asian markets traded in the green ex Japan where the 'Nikkei' index was down almost 1% after the yen rallied against the US$. OIl prices saw a sharp pullback with the greenback seeing selling while bond yields also traded flat. President Trump sounded cautious on Pharma& biotech & vowed to bring back jobs to the US which should be ominous warning to global Pharma& IT outsourcing.

Nifty crossed the 200 DMA in style with 8400 being within reach today. Banks lead the from the front with the Bank Nifty gaining almost 2.25%.Metals were the other big outperformer with the Metal index up over 4%.For today expect consolidation around 8400 on the Nifty while mid caps should see more action & participation.

The BSE Sensex is currently trading at 27239.03, up by 98.62 points or 0.36% after trading in a range of 27166.69 and 27278.93. There were 16 stocks advancing against 14 stocks declining on the index. The broader indices were trading in green; the BSE Mid cap index was up by 0.01%, while Small cap index was up by 0.02%. The CNX Nifty is currently trading at 8404.15, up by 23.50 points or 0.28% after trading in a range of 8382.30 and 8417.20. There were 24 stocks advancing against 27 stocks declining on the index.

MARKET INDICATORS			·
*Group ATopGainers*
*Company*	Price (Rs)	% chg
*Power grid*	198.50	4.61
*MMTC*	72.50	4.54
*Godrejprop*	336.00	3.72
*Cyient*	510.00	3.64
*Group ATopLosers*
*OIL*	346.30	-4.32
*Jubilant*	684.00	-3.14
*IDEA*	72.75	-2.48
*SRTRANSFI*	942.00	-2.56

Market Statistics
	BSE	NSE
*Advances*	*1052*	*1168*
*Declines*	*1152*	*307*

Technical view: Nifty will now find support around 8289 which is the 200DMA while resistance now comes @ 8446 which is the 100 DMA. Bank Nifty now finds support @ 18258 which isn the 200 DMA while the 100 DMA @ 19068 will act as resistance.

Market Sentiment:

The market breadth on BSE was negative in the ratio of 1052:1152, while 116 scrips remained unchanged.

Trading ideas IBREALEST (Buy above Rs 82.5 for target of Rs 86.5, SL at Rs 80.5): Stock has given a flag breakout on daily charts, after consolidating for the past 4 trading sessions between Rs 78.5 and Rs 81.5. The momentum seen in yesterday's trade along with stock sustaining above its 200-DMA would augur well in near term. On daily chart, stock looks a perfect price volume breakout candidate. We advise to Buy IBREALEST above Rs 82.5, stop loss at Rs 80.5 and Target of Rs 86.5.

MacroeconomicFront: According to sources, the first-ever policy to set the tone for water management in the Indian Railways is likely to be finalised by the end of this month. Commenting on the issue, Additional Member, Mechanical, K Swaminathan told the media, "We are rolling out a water policy by the end of this month which will set the tone for water management in the Indian Railways."

Corporate Snippets:

Lupin has received final approval from the US health regulator to market its Desoximetasone cream, used for treatment of skin disease, in the American market.

MRF Ltd said it will invest around Rs 45 bn in a phased manner over a period of ten years to set up a manufacturing unit in Gujarat.

Royal Orchid Hotels has acquired Amartara Hospitality by buying additional 24.9% stake in it.

NTPC’s board has approved an investment of Rs 10.53 bnDulanga coal mining project with rated production of 7 mtpa.

Top Sectoral& Stock Screening: The top gaining sectoral indices on the BSE were Power up by 2.09%, IT up by 1.20%, Capital Goods up by 0.98%, PSU up by 0.98% and TECK up by 0.94%, while Metal down by 0.83%, FMCG down by 0.33%, Realty down by 0.18% and Consumer Durables down by 0.06% were the losing indices on BSE.

Nifty Movers:The top gainers on Nifty were Power Grid up by 4.74%, NTPC up by 2.71%, Infosys up by 2.23%, Tata Power up by 2.21% and Tech Mahindra up by 1.96%. On the flip side, Idea Cellular down by 2.08%, Coal India down by 1.56%, AurobindoPharma down by 1.50%, IndusInd Bank down by 1.44% and BHEL down by 1.20% were the top losers.

On the global front:On the global front, Asian shares were trading mostly in green, with investors eyeing the first full press conference by President-elect Donald Trump since the November election. Trump has vowed to label China a currency manipulator on his first day in office and has threatened to slap huge tariffs on imports from China. Hong Kong shares extended their recent rally into a fifth successive day as investors brushed off another loss on Wall Street.

Global Signals:The Asian markets were trading mostly in green; FTSE Bursa Malaysia KLCI increased 3.52 points or 0.21% to 1,678.73, KOSPI Index increased 3.64 points or 0.18% to 2,078.81, Shanghai Composite increased 3.77 points or 0.12% to 3,140.52, Jakarta Composite increased 11.71 points or 0.22% to 5,312.95 and Taiwan Weighted increased 69.03 points or 0.74% to 9,414.77.On the other hand, Nikkei 225 decreased 188.43 points or 0.97% to 19,176.24 and Hang Seng decreased 90.05 points or 0.39% to 22,845.30.

Nifty ends at 8289, Sensex jumps 173 pts: auto rally

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Major headlines

· India’s December domestic passenger vehicle sales down 1.36%

· India’s fuel demand rose 4.3 percent Y/Y in December

· Reforms, Policy effectiveness to decide India rating

Indian Indices: Indian equity indices maintained the upbeat mood in late afternoon session and extended their gains on the back of healthy buying in Metal, Oil & Gas and Consumer Durables stocks. Sentiments got support with Moody’s report which maintained positive outlook on India and said beyond the short-term negative impact on growth, demonetisation has the potential to raise government revenues and provide some fiscal space to support growth if required. Positive opening in European market too aided the sentiments. European markets were trading in green despite concerns over the Italian banking system and the implementation of an OPEC deal. Back home, buying in Tata Motors and Tata Steel too supported the markets uptrend. Tata Motors was trading higher after the company’s arm reported 12% rise in December retail sales. Tata steel was trading in green after company reported 27% jump in Q3FY17 sales to 2.9 MT.

The BSE Sensex is currently trading at 26885.20, up by 158.65 points or 0.59% after trading in a range of 26804.17 and 26914.95. There were 24 stocks advancing against 6 stocks declining on the index.The broader indices were trading in green; the BSE Mid cap index was up by 0.35%, while Small cap index was up by 0.59%.

The CNX Nifty is currently closed at 8236.05, up by -7.75 points or 0.09% after trading in a range of 8227.75 and 8263.00. There were 27 stocks advancing against 24 stocks declining on the index.

Market Sentiment:

The market breadth on BSE was positive in the ratio of 1397: 1190, while 159 scrips remained unchanged.

Crporate Front:

Government’s capacity to implement reforms and policy effectiveness will decide India’s rating going forward, Moody’s Investors Service said. The US-based agency said that ongoing implementation of reforms is likely to boost India’s medium-term growth.

Macroeconomic front:

Ministries of environment and textiles will soon meet to find long-term as well as short-term solutions to the challenges being faced by domestic handicrafts exporters, said the media report. A meeting to resolve the issues of Indian handicrafts exporters will soon be convened, Textiles Minister SmritiIrani has said.

On the global front:

On the global front, European markets were trading mostly in red, as investors remained on sidelines ahead of fresh data from the euro zone and volatility in oil markets. Asian markets were trading mostly in red. Back home, value buying in Realty, Auto and FMCG stocks also supported the markets.

Commodity Updates:

*Commodity Prices (MCX):*
*Commodity*	Rs	*% Chang*
*Gold*	*28062.00*	*0.04*
*Silver*	*40630.00*	*-0.14*
*Crude oil*	*3567.00*	*-0.2*
*Natural Gas*	*215.50*	*1.32*
*Alluminium*	*118.45*	*0.85*
*Copper*	*387.25*	*1.12*

Top Sectoral& Stock Screening:The top gaining sectoral indices on the BSE were Metal up by 0.96%, Oil & Gas up by 0.94%, Consumer Durables up by 0.88%, Auto up by 0.78% and FMCG up by 0.69% , while Realty down by 0.42% was the sole losing index on BSE.

Top Nifty Movers:The top gainers on Nifty were Hindalco up by 3.77%, Adani Ports &Special up by 3.00%, Tata Motors up by 2.58%, Asian Paints up by 1.82% and Tata Motors - DVR up by 1.68%. On the flip side, Axis Bank down by 1.12%, Grasim Industries down by 1.06%, Ambuja Cement down by 0.66%, HDFC down by 0.65% and Indusind Bank down by 0.63% were the top losers.

Global Signals:

Asian markets were trading mostly in red; Nikkei 225 decreased 152.89 points or 0.79% to 19,301.44, Jakarta Composite decreased 12.35 points or 0.23% to 5,304.02, Shanghai Composite decreased 9.56 points or 0.3% to 3,161.67, KOSPI Index decreased 3.66 points or 0.18% to 2,045.12 and FTSE Bursa Malaysia KLCI decreased 0.46 points or 0.03% to 1,667.44. On the flip side, Taiwan Weighted increased 7.22 points or 0.08% to 9,349.64 and Hang Seng increased 186.16 points or 0.83% to 22,744.85.

All European markets were trading in green; France’s CAC increased 8.73 points or 0.18% to 4,896.30, UK’s FTSE 100 increased 13.63 points or 0.19% to 7,251.40 and Germany’s DAX increased 26.98 points or 0.23% to 11,590.97.

Global indices in consolidation as Chinese Yuan sees huge volatility with US$ seeing profit booking on every rally

9. January 2017 Rohit Stock Market Research (0)

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Major headlines:

· Asset deterioration a challenge for Indian banks.

· Money has lost secrecy post demonetization

· Key Indian equity indices open in green

INDEX PERFORMANCE
*Indices*	*Support*	*Resistanes*
*Sensex*	*26454*	*26725*
*Nifty*	*8138*	*8215*

Indian Indices: Asian markets opened flat to positive as US$ volatility versus Chinese yuan saw currency moves dominate recent market behaviour. The US$ is witnessing profit booking at every rally while the Chinese yuan had a very strong rally from oversold levels. The Dow Jones also hit 19999.63 as positive jobs report saw the US$ strengthen with equities jumping.

Nifty failed to cross the 200 DMA @ first attempt & late hour profit booking saw Nifty retreat to close below 8250. Bank Nifty however saw huge short covering & closed above its 200 DMA on value buying. For today expect another day of consolidation even as bulls make another attempt to cross 8280-8300 for Nifty to resume further uptrend. Weakness in IT stocks was the main culprit for Nifty under performance which saw banks being the best performing sector in rotation.

The BSE Sensex is currently trading at 26737.88, down by 21.35 points or 0.08% after trading in a range of 26720.09 and 26860.88. There were 12 stocks advancing against 18 stocks declining on the index.The broader indices were trading in green; the BSE Mid cap index was up by 0.24%, while Small cap index was up by 0.43%.The CNX Nifty is currently trading at 8237.15, down by 6.65 points or 0.08% after trading in a range of 8233.45 and 8263.00. There were 23 stocks advancing against 28 stocks declining on the index.

MARKET INDICATORS			·
*Group ATopGainers*
*Company*	Price (Rs)	% chg
*BEML*	1135.15	14.7
*MMTC*	68.30	9.72
*Fortis*	203.10	5.62
*KPIT*	140.70	4.45
*Group ATopLosers*
*Cadila*	367.55	-3.10
*DRreddy*	3072.05	-2.80
*HCC*	40.90	-1.68
*PIIND*	827.10	-1.50

Market Statistics
	BSE	NSE
*Advances*	*1131*	*1168*
*Declines*	*1047*	*307*

Technical view: Nifty will find support around 8181 which was the low for last 3 days while 8280 will act as first resistance. Bank Nifty now finds strong support @ 18000 while 18350 will act as resistance.

Market Sentiment:

The market breadth on BSE was positive in the ratio of 1354:828, while 98 scrips remained unchanged.

Trading ideas :YESBANK (Buy above Rs 1250 for target of Rs 1300, SL at Rs 1224): Stock has witnessed a double bottom breakout on daily charts post the two days smart rally. Near term trend turned positive for the stock on close above both its 50 and 100 DMA in last weeks trade. Price volume breakout would lead to sustained momentum for the stock in coming sessions. We advise to Buy YESBANK above Rs 1250, stop loss at Rs 1224 and Target of Rs 1300.

MacroeconomicFront: Finance Minister ArunJaitley has said that the colour of funds has not changed by merely depositing them in banks as the money has now lost its 'anonymity' and can be identified with the owner. Commenting on the issue, Finance Minister ArunJaitley told the media, "When 86 per cent of a country's currency, constituting 12.2 per cent of its GDP, is squeezed out of the market and sought to be replaced by a new currency.

Corporate Snippets:SpiceJet is expected to order at least 92 Boeing Co 737 jetliners, as it looks to bolster its presence in the world's fastest growing aerospace market.

SBIwill take the lead among state-run lenders to launch branch less banking. The latest launch from the lender - SBI Digi Bank will have a financial superstore, a market place and end to end digitisation for all products and services.

Pokarna Ltd has announced Pokarna Engineered Stone Ltd, its wholly-owned subsidiary, has partnered Swedish home furnishing products retailer IKEA in India, to serve as its exclusive quartz surfaces supplier and installation partner.

Top Sectoral& Stock Screening: The top gaining sectoral indices on the BSE were FMCG up by 0.65%, Realty up by 0.33%, Capital Goods up by 0.22%, Bankex up by 0.21% and Metal up by 0.14%, while Oil & Gas down by 0.52%, Power down by 0.45%, Consumer Durables down by 0.35%, PSU down by 0.19% and Auto down by 0.17% were the losing indices on BSE.

Nifty Movers:The top gainers on Nifty were AurobindoPharma up by 1.65%, HCL Tech up by 1.56%, Eicher Motors up by 1.51%, Idea Cellular up by 1.51% and ITC up by 1.17%. On the flip side, Dr. Reddy’s Lab down by 2.22%, BPCL down by 1.56%, Mahindra & Mahindra down by 1.37%, Coal India down by 1.31% and ACC down by 1.26% were the top losers.

On the global front: On the global front, Asian shares were trading mixed, as investors focused on policymaker remarks later this week for direction. Chinese Vice Finance Minister Zhu Guangyao said that the country is confident to have reached an economic growth of 6.7 percent in 2016, within a targeted range set earlier in the year. China, which had been aiming for a 6.5-7 percent economic growth for 2016, boosted government spending, saw a housing rally and record high levels of bank lending last year.

Global Signals:The Asian markets were trading mixed; KOSPI Index increased 3.22 points or 0.16% to 2,052.34, Shanghai Composite increased 14.96 points or 0.47% to 3,169.28 and Hang Seng increased 39.55 points or 0.18% to 22,542.56. On the other hand, Taiwan Weighted decreased 34.71 points or 0.37% to 9,337.51, Jakarta Composite decreased 22.68 points or 0.42% to 5,324.34 and FTSE Bursa Malaysia KLCI decreased 4.36 points or 0.26% to 1,671.13.

WEEKLY NIFTY TRADING VIEW FOR THE WEEK JAN09, 2016–JAN15, 2016

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Events to watch this week

US adds 156,000 jobs, wages up most since 2009
Yuan volatility causes concern amid tight liquidity
Global growth uptick persisted in December
2016 US auto sales set record

The Week ahead:

The eurozone releases unemployment figures on Monday, 9 January
The minutes of the December meeting of the ECB Governing Council are released on Thursday, 12 January
China releases December trade figures on Friday, 13 January
US retail sales figures for December are reported on Friday, 13 January

For the week,Global equities extended gains this week amid upbeat economic data and continued hopes for US fiscal stimulus. So far, US markets continue to hold just below record levels, with the 20,000 mark in the Dow Jones Industrial Average yet to be breached as of this writing, though the FTSE 100 set all-time highs this week. Ten-year US Treasury note yields fell to 2.40% from a pre-Christmas level of 2.53%. Oil prices firmed modestly, with West Texas Intermediate crude rising to $53.90 from $53.25 before the holidays. Global Brent rose to $56.90 from $55.80. The Chicago Board Options Exchange Volatility Index (VIX) was little changed at 11.45.

NIFTY- 8,243.80
CRUDE OIL-Rs 3,678barrel
GOLD-Rs 27,875/10 gram
Rs/$-Rs 67.96

MARKET ROUND UP

Key benchmark indices logged small gains in first week of calendar year 2017. Key indices edged lower in three out of five trading sessions during the week. Gains were triggered as buying of equities by domestic institutional investors outpaced selling by foreign portfolio investors. The S&P BSE Small and Mid-Cap indices outperformed the Sensex during the week.

In the week ended Friday, 6 January 2017, the Sensex rose 132.77 points or 0.5% to settle at 26,759.23. The Nifty 50 index rose 58 points or 0.71% to settle at 8,243.80.

The BSE Mid-Cap index gained 290.38 points or 2.41% to settle at 12,321.72. The BSE Small-Cap index gained 394.20 points or 3.27% to settle at 12,440.33. Both these indices outperformed the Sensex.

Macro Economic Front:

On the Economic Front,manufacturing PMI in India fell to 49.60 in December 2016 from 52.30 in November. A reading above 50 indicates economic expansion, while a reading below 50 points toward contraction. The reading pointed to the first contraction since December 2015, as output, new orders and new export orders fell amid cash shortages in the economy. Data was announced during trading hours on Monday, 2 January 2017.

Major Action &Announcement:

Wipro fell 0.86%. The company announced that its Digital TV Middleware solution has successfully enabled Hisense 4K TVs in Japan. Hisense Co. is a multinational white goods, brown goods and electronics manufacturer. The Wipro solution supports Hisense 4k TV product features ISDB-T/S Broadcast and HD-PVR to enable a premium viewing experience for customers. The announcement was made before market hours on Thursday, 5 January 2017.

According to reports, the new bill would require workers on the H-1B visa pay a minimum of $100,000, up from $60,000 currently. The bill also removes the Master's degree exemption to the cap on the number of visas available, as per reports. The bill comes after companies such as Disney and Southern California Edison have come under fire for outsourcing their IT operations to Indian companies.

Sun Pharmaceutical Industriesrose 1.78%. The company announced successful phase 3 confirmatory clinical trial results for Seciera (cyclosporine A, 0.09% ophthalmic solution), for the treatment of dry eye disease. Seciera is a patented, novel, proprietary nanomicellar formulation of cyclosporine A 0.09%. It is a clear, preservative-free, aqueous solution. Seciera is being developed by Ocular Technologies, a company recently acquired by Sun Pharma. Following this acquisition, Sun Pharma owns exclusive, worldwide rights to Secier and is developing it to commercialize for global markets including US, Europe, and Japan, as well as several emerging markets.

Tata Motors gained 5.61%. The company's British luxury unit Jaguar Land Rover (JLR) reported a 30% jump in retail sales in US in December 2016. JLR on Wednesday, 4 January 2017, announced its US retail sales for the month of December 2016. JLR's US sales rose 30% to 12,573 units in December 2016 over December 2015. Jaguar sales jumped 259% to 4,294 units in December 2016 over December 2015. Land Rover sales declined 2% to 8,279 units in December 2016 over December 2015.

Maruti Suzuki India rose 5.45%. The company said its total sales fell 1% to 1.17 lakh units in December 2016 over December 2015. The company announced the monthly sales volume on Sunday, 1 January 2017.

Mahindra & Mahindra (M&M) rose 3.49%. The company said its total tractor sales rose 9% to 14,047 units in December 2016 over December 2015. The company's total auto sales declined 4% to 36,363 units in December 2016 over December 2015. The company announced the monthly sales volume during market hours on Monday, 2 January 2017.

Global Front:

In Overseas Markets,China's Caixin Manufacturing Purchasing Managers' index (PMI) rose 51.9, compared to 50.9 in November on the back of increased demand. A reading above 50 represents expansion in a sector, whereas a reading below 50 represents contraction. The private manufacturing survey results come after figures at the weekend showed China's official PMI fell to 51.4 in December.

Activity in China's service sector expanded at a faster pace in December, a private gauge showed on Thursday, 5 January 2016, adding to recent signs of firmness in China's economy. The Caixin China services purchasing managers' index rose to 53.4 in December from 53.1 in November, Caixin Media Co. and research firm Markit said. A reading above 50 indicates a month-to-month expansion, while a reading below that points to a contraction.

Global Economic News:

December US payrolls solid but unspectacular
The United States added 156,000 new jobs in December while the unemployment rate edged up to 4.7%. A 2.9% annual rise in average hourly earnings was the most attention-grabbing aspect of Friday’s report. It was the largest yearly gain in wages since 2009. Rising wages, unless offset by gains in worker productivity, could negatively impact corporate earnings down the road. Wage increases may also keep the US Federal Reserve on guard for additional rate hikes in the months ahead. The US reported a wider trade deficit on Friday, with a fall in exports likely to trim economic growth estimates for the fourth quarter. The deficit expanded to $45.2 billion in November, a nine-month high, from $42.4 billion in October.

Global growth rebound continues
Solid purchasing managers’ surveys from December were reported early this week, suggesting that the uptick in global growth seen in recent months continued through year-end. The US reported its 91st consecutive month of manufacturing growth, with the Institute for Supply management index rising to 54.7 from 53.2. The United Kingdom’s manufacturing purchasing managers' index rose to 56.1, the highest in two and a half years, despite the looming specter of Article 50 being invoked later this year.

US auto sales set record
Global auto manufacturers sold a record-setting 17.55 million new cars and light trucks in the US in 2016, according to research firm Autodata. Sixty percent of the sales were classified as light trucks since SUVs fall into that category. In 2015, 17.48 million units were sold, 56% of them light trucks.

Australian trade returns to surplus
For the first time in nearly three years, Australia recorded a trade surplus in November. Rebounding commodity prices helped lift the trade account into the black, and the data suggest that the economy might avoid a technical recession after shrinking by 0.5% in Q3.

Unhappy holidays for many US retailers
Many US retailers struggled this holiday season as sales continued to migrate to the Internet. Two notable cases were Macy’s and Sears, traditional anchor tenants of US shopping malls, which each announced the closure of more than 100 stores. Additionally, Sears announced the sale of its iconic Craftsman tool brand to Stanley Black & Decker for $900 million.

GLOBAL CORPORATE NEWS

China forced to defend yuan amid outflows
It was a wild week for China’s yuan. On Thursday, overnight offshore deposit rates were ratcheted up to 80% in an attempt to squeeze out speculative short positions in the currency. That move set off a frantic short-covering rally, but the rally was largely reversed on Friday. In a further attempt to keep funds from leaving China, the government introduced additional capital controls effective 1 January and encouraged state-owned enterprises to sell foreign currencies. China is believed to be trying to stabilize the currency in advance of US president-elect Donald Trump’s inauguration on 20 January.

NEW 52-WEEK HIGH BSE (A):

COROMANDEL	319.00
EIDPARRY	289.20
IOC	355.00

NEW 52-WEEK LOWS BSE (A):

DIVISLAB

735.50

MAJOR WEEKLY GAINERS IN BSE A CATEGORY:

JPAssociates	10.39
MMTC ltd	62.25
Unitech	4.64

MAJOR WEEKLY LOSERS IN BSE A CATEGORY:

jsw steel	89.21
mphasis ltd	-6.99
lic housing	-6.23

Eyes will be set on the certain US economic data releases are:

Monday (09 Jan)
Consumer Credit
Tuesday(10 Jan)
NFIB Small Business & Wholesale Trade

Wednesday(11 Jan)
MBA Mortgage Applications
Thursday(12 Jan)
Jobless Claims
Friday(13 Jan)
Retail Sales

Fundamental Pick of the week:

BUY Tata Motors Ltd For Target Rs. 600.00

TATAMOTORS is a well know Indian MNC and a flagship company of the Tata Group. After acquiring Jaguar Land Rover, it gained global recognition as well.Technically, it is a sound stock and is on recovery mode after retracing 50% as per Fibonacci levels of the rise 265-598 levels.

We firmly believe; it has potential to outperform its peers as well as broader markets. Hence, we advocate buying this stock in range 480-490 with 440 stop loss for 600 targets.

Recommendation

Buy Tata Motors Ltd @ 480-490 Stoploss 440 Target 600 CMP 498

Indian Market Outlook:

Nifty ended marginally lower in the passing month, tracking mixed global cues and not so favorable domestic factors. After marginal bounce in the first week, it maintained its negative tone for most part of the month; however, recovery in final week of the calendar year significantly trimmed the losses. Finally, it settled at 8185.80; down by nearly half a percent.

It rebounded after retesting the crucial support mark of 7900, raising hope of sustainable recovery in January month.

TECHNICAL VIEW:

S3	S2	S1	NIFTY	R1	R2	R3
8,140	8,175	8,215	8,243.80	8,288	8,335	8,390

Technically, charts are in the favor of rebound but a lot depends upon the upcoming earning season. On the daily chart, the Nifty is trading above the 20- day moving average (DMA) and the 40-DMA, ie 8121 and 8195, respectively. The momentum indicator is positive on the daily chart.

On the hourly chart, the Nifty is trading between the 20-hour moving averages (HMA) and the 40-HMA, ie 8246 and 8208, respectively. The hourly momentum indicator has turned positive. The market breadth was negative, with 639 advances and 962 declines on the National Stock Exchange.

Conclusion:

Nifty has immediate hurdle at 8300 and requires participation from the banking space for further recovery. Meanwhile, stock specific movement, especially in the cash segment, is offering ample trading opportunities and we expect this trend to continue ahead also. So, traders should plan their positions keeping in mind the above factors.