RBI may keep repo rate unchanged at 6% in April policy review

There is a clear consensus that the six-member monetary policy committee of the Reserve Bank of India (RBI) would keep the repo rate unchanged at 6 per cent next week.

This is an emergent view, which was missing in previous polls undertaken by the newspaper. Surely, any change in rates or stance is not expected in the first bi-monthly monetary policy review for 2018-19 on April 4-5. But the inflation trajectory has surprised many and stagnant growth could compel the RBI to go for a rate cut, according to some economists.

The consumer price index (CPI)-based inflation in February came at 4.4 per cent, below the RBI’s March projection of 5.1 per cent. The inflation rate is likely to fall further in March. The sharper-than-anticipated fall in prices opens up the space for the central bank to cut rates, especially at a time when growth is not expected to pick up sharply.

Soumya Kanti Ghosh, group chief economist of SBI Group, expects the inflation rate to fall to 3.5 per cent. This gives the central bank the chance to be more accommodative and offer a 25 basis point rate cut this calendar year, he added.

But only two of the 15 people polled mentioned about a rate cut. Among those who offered a clear view, six expect at least a 25 basis point hike in the coming months, and four said there would be a prolonged pause.

In is February policy, the central bank revised its inflation outlook upward at 5.1 per cent for the March quarter, higher than its earlier forecast of 4.3-4.7 per cent in the second half of 2017-18. In the first half of 2018-19, retail inflation would be in the range of 5.1-5.6 per cent, but may cool down to 4.5-4.6 per cent in the second half, according to the earlier projection.

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CAPITALSTARS - Vedanta hit by up to $600 million charge for Goa iron ore unit closure

London-listed Vedanta Resources said on Thursday it would likely record an impairment charge of up to $600 million following the closure of its iron ore business in Goa.

In February, the Supreme Court quashed all iron ore mining permits and mining was ordered stopped from March 16 in Goa, one of the country's top producing states for the material used in steel.

Billionaire Anil Agarwal's Vedanta Resources, the state's biggest ore miner, said there could be a likely impairment of $500-600 million net of taxes, or $700-$800 million gross of taxes, on this account.

Court action against illegal mining shut the Goa industry for more than two years from 2012, prior to which Goa had exported about 50 million tonnes a year. The Supreme Court later limited production in the state to 20 million tonnes a year.

The latest ban would affect not only Vedanta but also several small unlisted companies run by local families.

Vedanta Ltd is expected to produce around 5.5 million tonnes of Goa ore in the fiscal year ending March 31. India's ore production was 192 million tonnes last fiscal year.

Shares of Vedanta Resources were up 1.7 percent at 1524 GMT.

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RBI slaps Rs 58.9 crore fine on ICICI Bank for failure to meet disclosure norms on sale of securities

The Reserve Bank of India, in a rare move, has imposed a penalty of Rs 58.9 crore on ICICI Bank, the country's biggest private bank and the third biggest overall, for failure to adhere to rules on sale of bonds in the held-to-maturity (HTM) category.

"The Reserve Bank of India (RBI) has imposed through an order dated March 26, 2018, a monetary penalty of ₹589 million on ICICI Bank Limited (the bank) for non-compliance with directions issued by RBI on direct sale of securities from its HTM portfolio and specified disclosure in this regard," RBI said in a statement on its website on Thursday.

This penalty has been imposed in exercise of powers vested in RBI taking into account failure of the bank to adhere to the aforesaid directions/guidelines issued by RBI.

This comes a day after ICICI Bank clarified its stance on its loan exposure to Videocon Group and conflict of interest relating to loans to the bank's CEO and MD Chanda Kochhar's husband's firm NuPower Renewables.

The banking regulator did not elaborate on how ICICI Bank failed to comply with its norms.

Banks need to disclose the amount of securities they keep under the HTM segment under which the papers are held until maturity and cannot be used for intra-day trading.

At present, RBI allows banks to sell securities from HTM subject to certain limits and disclosure rules.

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CAPITALSTARS ROCKING PERFORMANCE OF THE DAY - 28 MAR 2018

STOCK FUTURES:

FUTURES INTRADAY:

SELL BHARTI AIRTEL FUT 1 TGT

BUY CESC FUT 1 TGT

PREMIUM FUTURES:

BUY WIPRO FUT 1 TGT ALMOST

NIFTY FUTURES:

INDEX OPTION CALL

OPTION

BUY MARUTI CALL 9000 SL TRIGGERED

OPTION PREMIUM

BUY TATASTEEL  560 PUT ON HOLD FOR TOMORROW

STOCK CASH

STOCK CASH INTRADAY

buy NIITLTD IN CASH 1 TGT

buy MUHTOOTFIN IN CASH 1 TGT

STOCK CASH  PREMIUM:

BUY EDELWEISS IN CASH 1 TGT

BUY PNC INFRA ON HOLD FOR MONDAY  

STOCK SUPER CASH PREMIUM

BUY MCDOWELL IN CASH ON HOLD FOR TOMORROW

EQUITY KING CALL

BUY MUHTOOTFIN FUT BOOKED 50% AND HOLD

OPTION STRATEGY

                                                                                             

HNI CASH CALL

BUY M&M FIN IN CASH BOOKED 50% AND HOLD FOR TOMORROW

HNI FUTURE CALL

BUY UPL FUT BOOKED FULL PROFIT

BUY MARUTI APRIL FUT ALMOST FINAL TGT   

HNI option CALL

CPE  FUTURE CALL

BUY BATAINDIA FUT BOOKED FULL PROFIT

BUY BIOCON FUT BOOKED MOST OF  PROFIT

BUY   DIVIS LAB FUT ON HOLD FOR TOMORROW

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CAPITALSTARS ROCKING PERFORMANCE OF THE DAY - 27 MAR 2018

STOCK FUTURES:

FUTURES INTRADAY:

BUY CAPF FUT SECOND TGT

SELL BHARTI AIRTEL FUT SECOND TGT

PREMIUM FUTURES:

BUY HINDPETRO FUT 1 TGT

BUY IBULHSGFIN FUT ON HOLD FOR TOMORROW  

BUY BPCL  FUT SL TRIGGREED

NIFTY FUTURES:

INDEX OPTION CALL

OPTION

BUY HINDUNILVR CALL 1320 SECOND TGT

BUY TATAMOTOR 330 CALL SECOND TGT almost    

OPTION PREMIUM

BUY HDFC 1800 MARCH CALL 1^ST TGT  

STOCK CASH

STOCK CASH INTRADAY

buy RBLBANK IN CASH SECOND TGT

buy JMFINACIL IN CASH HIGH  134.85 NR SECOND TGT

BUY UPL IN CASH BOOKED FULL NR  739-740

STOCK CASH  PREMIUM:

BUY SHOBHA IN CASH 1  TGT 

BUY JMFINACIL IN CASH 1  TGT  

STOCK SUPER CASH PREMIUM

BUY DISHTV IN CASH FINAL TGT  

BUY LICHSGFIN IN CASH SECOND TGT AND HOLD  

BUY PNB HSGFIN IN CASH FINAL TGT

BUY MCDOWELL IN CASH ON HOLD FOR TOMORROW

EQUITY KING CALL

SELL WIPRO FUT SL TRIGGERED  

BUY TCS FUTURE APRIL ALMOST FINAL TGT

BUY RBLBANK FUT ALMOST FINAL TGT  

OPTION STRATEGY

BUY HINDUNILEVER CALL 1320 call BOOKED FULL NR  15.50

BUY INDUSIND BANK  CALL 1740 FINAL TGT   

                                                                                             

HNI CASH CALL

BUY BATAINDIA IN CASH BOOKED 50% AND HOLD  

BUY M&M FIN IN CASH ON HOLD FOR TOMORROW

HNI FUTURE CALL

BUY BATAINDIA FUT FINAL TGT YESTERDAY CALL

BUY UPL FUT ON HOLD FOR TOMORROW  

HNI option CALL

BUY CESC 940 CALL MARCH SL TRIGGERED…

CPE  FUTURE CALL

BUY JUBLFOOD FUT BOOKED FULL PROFIT  

BUY BATAINDIA FUT BOOKED 50% AND HOLD

BUY BIOCON FUT ON HOLD FOR TOMORROW

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CAPITALSTARS ROCKING PERFORMANCE OF THE DAY - 26 MAR 2018

STOCK FUTURES:

FUTURES INTRADAY:

SELL GAILINDIA SL TRIGGERED  

BUY CADILAHC FUT FINAL TGT ALMOST

BUY JUBLFOOD FUT SECOND TGT

PREMIUM FUTURES:

SELL BPCL FUT SL TRIGGERED ‘

BUY SBIN FUT SECOND TGT

BUY JUBLFOOD FUT HOLD FOR TOMORROW.

NIFTY FUTURES:

SELL BANKNIFTY FUT SL TRIGGERED   

INDEX OPTION CALL

BUY BANKNIFTY 23800 PUT SL TRIGGERED

OPTION

BUY LICHSGFIN CALL 520 FINAL TGT

BUY TCS CALL 2800 NEAR COST EXIT   

OPTION PREMIUM

BUY HDFC 1800 MARCH CALL NEAR CMP AROUND 29 TG 35,38,45 SL 15.25 ON HOLD FOR TOMORROW

BUY CESC 940 MARCH CALL NEAR CMP AROUND 15 TO 16 TG 21,23,27 SL 6 FINAL TGT ACHIEVED

STOCK CASH

STOCK CASH INTRADAY

buy BATAINDIA IN CASH ALMOST FINAL TGT     

buy EXIDE IND IN CASH 2 TGT ALMOST

SELL AXIS BANK IN CASH EXIT  NR 502

BUY GODREJCP IN CASH SL  TRIGGERED

STOCK CASH  PREMIUM:

BUY ENGINERSIN IN CASH FINAL TGT

BUY ADANIENT IN CASH SECOND TG

SELL WIPRO IN CASH COST EXIT..

BUY BHARTI INFRATEL  1 TGT  

STOCK SUPER CASH PREMIUM

BUY MARICO IN CASH SECOND TGT AND HOLD

BUY DISHTV IN CASH 1 TGT AND HOLD

BUY LICHSGFIN IN CASH FIRST TGT AND HOLD

BUY PNB HSGFIN IN CASH FIRST TGT AND HOLD

  

EQUITY KING CALL

SELL WIPRO FUT ON HOLD

BUY TCS FUTURE APRIL ON HOLD FOR TOMORROW

OPTION STRATEGY

BUY ZEEL 580 CALL BOOKED NR  7.45

BUY HINDUNILEVER CALL 1320 call on hold for tomorrow

BUY MARUTI CALL 9000 SL TRIGGRED  

BUY INDUSIND BANK  CALL 1740 BOOKED 50% AND HOLD  

BUY HDFCBANK CALL 1880 BOOKED 50% AND HOLD

                                                                                     

HNI CASH CALL

BUY BATAINDIA IN CASH ON HOLD FOR TOMORROW

HNI FUTURE CALL

BUY BATAINDIA FUT ALMOST FINAL TGT

HNI option CALL

BUY SBIN PUT 230 SL TRIGGERED

BUY CESC 940 CALL MARCH ON HOLD FOR TOMORROW.

CPE  FUTURE CALL

SELL YESBANK FUT SL TRIGGERED

BUY JUBLFOOD FUT BOOKED 50% AND HOLD

BUY BATAINDIA FUT ON HOLD FOR TOMORROW

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Wall Street nosedives as investors flee on trade war fears

Wall Street tumbled on Friday with more than 1,000 points knocked off the Dow in two days as investors, increasingly nervous about a potential US trade war with China, shied away from risk ahead of the weekend and sought shelter from further losses.

In a volatile session, the S&P 500 came within a hair of its 200-day moving average, a key technical level. The benchmark index also nudged closer to its February low, which marked a correction, ending 9.9 percent lower than its January 26 record.

The Dow Jones Industrial Average fell 424.69 points, or 1.77 percent, to 23,533.2, the S&P 500 lost 55.43 points, or 2.10 percent, to 2,588.26 after hitting an intraday low that was barely above its 200-day moving average of 2585.22.

The Nasdaq Composite dropped 174.01 points, or 2.43 percent, to 6,992.67.

For the week, the Dow was down 5.67 percent, the S&P 500 was down 5.95 percent and the Nasdaq was down 6.54 percent, marking their biggest weekly percentage falls since January 2016.

The Dow was down 11.6 percent since its Jan. 26 high, and hit its lowest close since confirming a correction in February.

The Cboe Volatility Index, the most widely followed barometer of expected near-term volatility in the S&P 500, finished up 1.53 points at 24.87, its highest close since February 13.

The S&P’s financial sector was the S&P’s biggest percentage loser, at 3 percent, after a volatile session in which it was whip-sawed by volatile Treasury yields.

The semiconductor sector took a fall after Micron Technology’s quarterly report stoked fears about falling NAND prices. The Philadelphia Semiconductor index  slumped 3.3 percent.

Declining issues outnumbered advancing ones on the NYSE by a 3.96-to-1 ratio; on Nasdaq, a 3.72-to-1 ratio favored decliners.

The S&P 500 posted two new 52-week highs and 42 new lows; the Nasdaq Composite recorded 23 new highs and 93 new lows.

Volume on US exchanges was 8.11 billion shares, above the 7.3 billion average for the last 20 trading days.

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CAPITALSTARS ROCKING PERFORMANCE OF THE DAY - 23 MAR 2018

STOCK FUTURES:

  

FUTURES INTRADAY:

SELL AXIS BANK FUT 2 TGT

SELL SBI FUT SECOND TGT  

PREMIUM FUTURES:

SELL ENGINERSIN FUT 1 TGT  

NIFTY FUTURES:

INDEX OPTION CALL

BUY BANKNIFTY  23800 PUT 1 TGT

BUY NIFTY 9950 CALL 1 TGT

OPTION

BUY JINDALSTEL 210 PUT FINAL TGT  

OPTION PREMIUM

BUY BHARTI AIRTEL CALL 400 SL TRIGGERED  

BUY SBIN PUT 240 FINAL TGT YESTERDAY CALL

BUY AXIS BANK  50 PUT SL TRIGGERED  

STOCK CASH

STOCK CASH INTRADAY

buy MARICO  IN CASH SECOND TGT    

buy INDUSIND BANK IN CASH 1 TGT BOOKED

BUY MANAPURAM IN CASH  1 TGT

STOCK CASH  PREMIUM:

BUY MARICO IN CASH 1 TGT BOOKED  

BUY SUNTECK IN CASH ON HOLD FOR TOMORROW

BUY BHARTI INFRATEL  ON HOLD FOR TOMORROW

STOCK SUPER CASH PREMIUM

BUY MARICO IN CASH ON HOLD FOR TOMORROW

BUY DISHTV IN CASH ON HOLD FOR TOMORROW  

EQUITY KING CALL

BUY HCL TECH FUT FINAL TGT

OPTION STRATEGY

BUY ZEEL 580 CALL ON HOLD FOR TOMORROW

BUY HINDUNILEVER CALL 1320 call on hold for tomorrow

BUY MARUTI CALL 9000 ON HOLD FOR TOMORROW

BUY INDUSIND BANK  CALL 1740 ON HOLD FOR TOMORROW

BUY POWERGRID CALL 200 SL TRIGGERED  

                                                                                             

HNI CASH CALL

BUY JUBLFOOD IN CASH BOOKED FULL PROFIT 

HNI FUTURE CALL

BUY INDUSIND BANK FUT BOOKED FULL POSITION NR 1747

SELL CEAT  FUT FINAL TGT

HNI option CALL

BUY JUBLFOOD 2300 CALL SL TRIGGERED

BUY SBIN PUT 230 ON HOLD FOR TOMORROW

CPE  FUTURE CALL

SELL JET AIRWAYS FUT BOOKED FULL PROFIT

SELL YESBANK FUT ON HOLD FOR TOMORROW

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CAPITALSTARS INVESTMENT ADVISER: SEBI REGISTRATION NUMBER: INA000001647

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