Indian Indices: Asian markets opened
in the green as overnight US cues prompted buying in equities with Dow Jones
scaling another fresh high. The return of risk on trade is seeing stocks
& indices touch fresh highs with the Brazilian 'Bovespa' leading from the
front. The Index has given returns of over 15% YTD (year to date) & over
66% on a yearly basis.
Nifty scales 8900 for the 1st time in 5 months with Bank Nifty closing
@ 20860 which is the highest all time closing high recorded. The left out
feeling is seeing huge pent up buying which is keeping indices overbought
with any fall being brought into. Oil &gas, banks, auto's& financials
are contributing to the gains while IT stocks saw profit booking after a
heady rally in the last week.
The BSE
Sensex is currently trading at 28611.63, down by 49.95 points or 0.17% after
trading in a range of 28603.41 and 28726.10. There were 14 stocks advancing
against 16 stocks declining on the index. The broader indices were trading in
green; the BSE Mid cap index was up by 0.22%, while Small cap index was up by
0.24%.The CNX Nifty
is currently trading at 8868.75, down by 10.45 points or 0.12% after trading
in a range of 8865.25 and 8897.15. There were 26 stocks advancing against 25
stocks declining on the index.
|
MARKET
INDICATORS
|
·
|
|
Group ATopGainers
|
|
|
Company
|
Price (Rs)
|
% chg
|
Reliance
|
1168.60
|
7.38
|
Goderejpor
|
373.80
|
5.10
|
Rajeshexpo
|
522.15
|
4.37
|
KTKbank
|
126.25
|
3.15
|
Group ATopLosers
|
|
|
Marksans
|
48.90
|
-3.65
|
Titan
|
443.00
|
-3.12
|
BEL
|
1521.00
|
-2.44
|
GPPL
|
159.30
|
-2.18
|
|
|
|
|
|
|
|
Market
Statistics
|
|
|
|
BSE
|
NSE
|
Advances
|
1357
|
771
|
Declines
|
1054
|
717
|
|
|
|
|
|
|
|
Technical view: Nifty will now attempt the previous high of 8968 hit
in September 2016 which will act as resistance while support now emerges
closer to 8840 which was the earlier resistance. Bank Nifty is in blue sky
territory with new highs being seen & will attempt 21200 while support
now comes around 20576.
|
INDEX
PERFORMANCE
|
|
|
Indices
|
Support
|
Resistanes
|
Sensex
|
28638
|
28925
|
Nifty
|
8872
|
8955
|
|
|
|
|
|
|
|
Trading
ideas :INDIACEM (Buy
above Rs 173, for target of Rs 182, SL at Rs 168): Stock has broken out
from a cup and handle pattern, which has aided India Cement resume its prior
uptrend. The breakout has been accompanied with impressive volumes. Other
oscillators also indicate that the current momentum would extend. We advise
to Buy INDIACEM above Rs 173, Stop Loss at Rs 168 and Target of Rs 182.
Derivative
Snippets: Markets
traded with a positive bias, as the index call option writers continue to
cover their short positions for the third straight day. Nifty 8800 CE to 9000
CE strikes witnessed massive short covering.
FIIs were net sellers in cash market segment to the
tune of Rs. 1435 crores.
FII’s
index future long/short ratio at 2.2x vs 2.5x with an addition of ~22K short
contracts.
The Fiscal Responsibility
and Budget Management (FRBM) committee has suggested setting up of
a fiscal council to oversee and verify the credibility of the
government’s Budget numbers and fiscal targets for any given year.
|
|
Nifty Movers: The top gainers on Nifty were Reliance Industries up
by 7.22%, Axis Bank up by 2.31%, Coal India up by 2.14%, BhartiInfratel up by
2.10% and Bosch up by 1.99%.
On the flip
side, Infosys down by 1.78%, NTPC down by 1.25%, TCS down by 1.05%, Tata
Steel down by 0.91% and Eicher Motors down by 0.82% were the top losers.
|
Top
Sectoral& Stock Screening: The top gainers
on the Sensex were Reliance Industries up by 7.28%, Axis Bank up by 2.19%,
Coal India up by 2.05%, BhartiAirtel up by 1.91% and Asian Paints up by
1.81%. On the flip side, Infosys down by 1.59%, NTPC down by 1.16%, TCS down
by 0.96%, Tata Steel down by 0.76% and GAIL India down by 0.73% were the top
losers.
|
|
On the global front: On the global front, Asian shares were trading
mostly in green, joining a record-setting night for world markets as
investors cheered upbeat factory activity in Europe and solid earnings on
Wall Street. China’s home price growth slowed for the fourth straight month
as demand cooled further in the biggest cities, signaling government curbs to
defuse a bubble in the sector were starting to pay dividends.
|
Global Signals: The Asian markets
were trading mostly in green; FTSE Bursa Malaysia KLCI increased 0.76 points
or 0.04% to 1,707.31, KOSPI Index increased 3.01 points or 0.14% to 2,105.94,
Taiwan Weighted increased 18.19 points or 0.19% to 9,782.12 and Hang Seng
increased 207.54 points or 0.87% to 24,171.17.On the other hand, Nikkei 225
decreased 11.38 points or 0.06% to 19,370.06, Jakarta Composite decreased 6.5
points or 0.12% to 5,334.49 and Shanghai Composite decreased 4.4 points or
0.14% to 3,248.93.
|
|