|
Indian
Indices: Asian indices opened in the green with most indices trading higher as
Friday's US jobs data improves sentiment. The rise in bond yields however is
the near term risk as danger of higher cost of carry would see unwinding of
carry trades hurt equity markets globally.
Nifty saw a flat close on Friday spurred by fresh bout of buying in
heavyweight Reliance, which singlehandedly spurred the Nifty out of losses.
Foreign investors continue to book profit even as local funds buy any fall
aggressively. For today expect another day of consolidation with select mid
cap sector outperformance continuing.
In its ‘Q1 FY18 Results Outlook,’ CRISIL said that
the growth in the sectors, accounting for 61% of the market capitalisation of
companies listed on the National Stock Exchange, was hemmed in by factors
such as a rise in input costs, an appreciating rupee and output cuts ahead of
the GST regime rollout from July 1.
The BSE
Sensex is currently trading at 31568.26, up by 207.63 points or 0.66% after
trading in a range of 31471.41 and 31602.50. There were 26 stocks advancing
against 5 stocks declining on the index.
The broader
indices were trading in green; the BSE Mid cap index was up by 0.36%, while
Small cap index was up by 0.56%.
|
|
MARKET
INDICATORS
|
·
|
|
|
Group ATopGainers
|
|
|
|
Company
|
Price (Rs)
|
% chg
|
|
Unitech
|
8.38
|
7.16
|
|
Rcom
|
24.00
|
5.49
|
|
PNB
|
150.20
|
4.20
|
|
Videoind
|
27.65
|
4.93
|
|
Group ATopLosers
|
|
|
|
Shriramcit
|
1024.70
|
-6.05
|
|
Biocon
|
322.10
|
-4.44
|
|
IDFC
|
58.00
|
-3.17
|
|
Mindtree
|
528.00
|
-2.09
|
|
|
|
|
|
|
|
|
INDEX
PERFORMANCE
|
|
|
|
Indices
|
Support
|
Resistanes
|
|
Sensex
|
31070
|
31315
|
|
Nifty
|
9565
|
9645
|
|
|
|
|
|
|
|
|
Technical view: Nifty finds strong support around 9600 while 9700
will act as resistance on the upside. Bank Nifty also finds support around
23250 while 23650 will act as resistance.
|
|
|
|
Prestige (Buy Above 282 with Stop Loss at 275 for
Target of 298): After consolidating for over five weeks, the stock has broken
out from a classic Cup and Handle pattern on the daily charts. The
price breakout has been accompanied with smart uptick in volumes. Other
oscillators also indicate that the current momentum is here to stay. We
expect Prestige to surge higher towards its potential target of Rs 298 in
near term.
EconomicSnippets
The
G20 Summit began on Friday in this port city as world leaders
assembled to discuss fight against terrorism and ways to improve open trade
while Prime Minister NarendraModi met his counterparts from the BRICS bloc.
(BS)
The
Finance Ministry on Friday said that education will become cheaper
with the goods and services tax (GST) and instead some items such as school
bags have now become cheaper.
The
finance ministry is likely to approve aRs 2,500 crore package for the leather
and footwear industry, a move that is expected to boost exports, generate
employment and make the sector competitive globally.
The
Jammu and Kashmir legislative assembly passed the state GST Bill 2017 amid
boycott by opposition, making it the last state of the country to join the
new tax regime.
|
|
|
Nifty Movers: The top gaining sectoral indices on the BSE were
Telecom up by 2.22%, TECK up by 1.65%, IT up by 1.59%, Realty up by 1.27% and
PSU up by 1.03%, while Consumer Durables down by 0.21% and FMCG down by 0.10%
were the only losing indices on BSE.
|
Top Sectoral& Stock Screening:The top gaining sectoral indices on the BSE were Telecom up by 2.22%,
TECK up by 1.65%, IT up by 1.59%, Realty up by 1.27% and PSU up by 1.03%,
while Consumer Durables down by 0.21% and FMCG down by 0.10% were the only
losing indices on BSE.
|
|
|
On the global front: On the global front, Asian shares were trading
mostly in green, lifted by Wall Street’s strong performance on Friday.
China’s producer price inflation was unchanged in June and remained well off
highs seen earlier this year, amid lingering oversupply issues in the steel
sector and as signs of economic weakness weighed on the outlook for prices.
|
Global Signals:The Asian markets
were trading mostly in green; Taiwan Weighted increased 0.64 points or 0.01% to
10,297.89, KOSPI Index increased 5.32 points or 0.22% to 2,385.19, Nikkei 225
increased 129.13 points or 0.65% to 20,058.22 and Hang
Seng increased 265.71 points or 1.05% to 25,606.56.On the other hand, Jakarta
Composite decreased 15.4 points or 0.26% to 5,799.39, Shanghai Composite
decreased 7.09 points or 0.22% to 3,210.87 and FTSE Bursa Malaysia KLCI
decreased 3.11 points or 0.18% to 1,756.82.
|
|