Market Live By CapitalStars 01/July/2019

Nifty likely to open flat.

The Nifty50 is expected to open flat-to-higher on Monday tracking Asian markets which were trading higher after the United States and China agreed on Saturday to restart trade talks. On Friday, Wall Street advanced with the S&P 500 and the Dow closing the book on their best June in generations. The S&P 500 had its best June since 1955. The Dow posted its biggest June percentage gain since 1938, the waning days of the Great Depression, said a Reuters report. Oil prices rose more than USD 1 a barrel on Monday after Saudi Arabia, Russia, Iraq backed an extension of supply cuts for another six to nine months ahead of an OPEC meeting this week, added the report. Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 9.5 points or 0.08 percent. Nifty futures were trading around 11,847-level on the Singaporean Exchange.

Global Market:

Asian Markets: Shares in China are higher today as the Shanghai Composite gains 2.14%. The stock markets in Tokyo and Hong Kong are closed at this time.

US Markets: North and South American markets finished mixed as of the most recent closing prices. The S&P 500 gained 0.58% and the Bovespa rose 0.24%. The IPC lost 0.36%.

European Markets: European markets finished broadly higher on Friday with shares in Germany leading the region. The DAX is up 1.04% while France's CAC 40 is up 0.83% and London's FTSE 100 is up 0.31%.

Major Headlines of the day:

Rupee stands at 68.90 per dollar.

PwC quits as auditor for Everready Industries Singhi & Co has replaced PwC as auditor of the company.

Reliance Home Finance extends maturities on NCDs of Rs400cr by 4 months RHFL has already monetised over Rs5,000cr of retail assets and will continue to do so to meet its debt servicing obligations.

UPL completes purchase of Costa Rica-based Industrias Bioquim We would now like to inform that the transaction has closed on June 27, 2019. This acquisition has been made through a subsidiary of UPL Corporation Ltd, the international arm of UPL Ltd, the company added.

Trend in FII flows:- The FIIs were Net Value of Rs -513.91 segment while the DIIs were Net Value of 182.40 the provisional figures.

Securities in Ban For Trade Date 01-JULY-2019

DHFL

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Opening Bell By CapitalStars 01/July/2019

CS NIFTY FUTURES (JUL) OVERVIEW

TREND BEARISH

RES 2: 12100

RES 1: 11990

SUP 1: 11700

SUP 2: 11610

CS BANK NIFTY FUTURES (JUL) OVERVIEW

TREND BEARISH 

RES 2: 31720

RES 1: 31500

SUP 1: 31000

SUP 2: 30810

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Nifty records worst fall since October 2018; over 22 stocks fall 20-50% in June

The index finally closed 52.70 points lower at 11,788. The index closed below its 5-day EMA, 20-EMA, as well as 13-EMA which does not augur well for the bulls.

The Nifty50, which had hit a record high of 12,103 on June 3, failed to keep the momentum going and closed with losses of 1.12 percent in June. The index recorded its worst fall since October 2018 when it fell by nearly 5 percent.

The index moved in a range and retested its crucial 50-days exponential moving average (EMA) for seven consecutive days in a row before bouncing back towards 11,900 levels. However, selling pressure at higher levels pushed the index below 11,800.

The index finally closed 52.70 points lower at 11,788. The index closed below its 5-day EMA, 20-EMA, as well as 13-EMA which does not augur well for the bulls.

The S&P BSE Sensex might have lost a little over 300 points or 0.8 percent in June, but the real carnage was seen in the broader market space. The S&P BSE Midcap and the S&P BSE Smallcap index fell 4.2 percent and about 2 percent respectively for the month of June.

More than 70 percent of the stocks or 356 in the S&P BSE 500 index gave negative returns in the same period. As many as 21 stocks in the 356 stocks fell 20-50 percent which include names like Jet Airways, Jain Irrigations, Reliance Infra, Reliance Capital, PC Jeweller, Reliance Power, and Reliance Communications, etc. among others.

Most of the stocks mentioned in the list are value traps, and investors should not try to catch the falling knife, suggest experts.

“The mentioned stocks are certainly not value buys, but definitely Value Traps. Investors misunderstand the meaning of value to something which is available cheap,” Lovelesh Sharma, Head of Research – Epic Research, told Moneycontrol.

“This is not right since it is manifested through biases that an investor develops while looking at prices, when the price falls to an extent of say more than 50 percent. In an established bullish trend, a Value stock or Value buy would certainly be in tandem or likely to outperform its peers or the index,” he said.

Sharma further added that, even if there is any price drop or say correction in value buy, it should be an outcome of a slowdown in that sector. But, here the stocks that we are seeing are debt-ridden, have compliance and governance issues, and some of them are now going through NCLT.

Most of the stocks which fell double digits in the S&P BSE 500 index also hit their respective 52-week low. As many as 88 stocks in the S&P BSE 500 index hit their fresh 52-week low which includes names like YES Bank, Reliance Infra, SPARC, Indiabulls Housing Finance, IDFC, BOSCH, Biocon, Andhra Bank, Indiabulls Ventures, Wockhardt, etc. among others.

As many as 13 stocks fell 50-70 percent in June which include names like Eros International, Cox & Kings, Sintex Industries, High Ground Enterprise, Jet Airways, Omkar Speciality, and McLeod Russel India Ltd.

“The smallcap space has been in pressure for a while and, in recent months, it has been oscillating in a range. If we observe closely, the stocks which have fallen more than 20 percent are mostly those which are affected with huge debt or corporate governance issues,” said Sharma.

The market breadth has been a concern for the market especially at a time when benchmark indices hit fresh record highs. Nearly 300 stocks in the BSE500 stocks are trading below their long-term moving average (200-DMA) in June.

They include marquee names like ITC, Maruti Suzuki, Asian Paints, Hindustan Zinc, IndusInd Bank, Avenue Supermarts, Tech Mahindra and Dabur India, among others.

Experts feel that there is a possibility that we might have hit an intermediate top in June, and a breakout above the recent top of 12,103 on the Nifty and 40,312 on the Sensex recorded in June is still some time away.

“The current anatomy of the market structure is fractured; a high number of stocks are trading below 200 EMAs. Budgets are indeed important to set the right policy initiatives for the economy,” Umesh Mehta, Head of Research – SAMCO Securities, told Moneycontrol.

“However, the mood of the street is not positive and therefore policy initiatives, if any, will not be immediately reflected in the stock prices. Therefore, we believe the market might have achieved an immediate top and a breakout above the recent is not likely to happen in near term,” he said.

Source: https:// www.moneycontrol.com /news/business/stocks/nifty-records-worst-fall-since-october-2018-over-22-stocks-fall-20-50-in-june-4151321.html

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Corporate News By CapitalStars 28/Jun/2019

Airtel shuts down 3G network in Kolkata

In one of the first phase-outs of 3G technology globally, Bharti Airtel announced the shutdown of its 3G network in Kolkata. Airtel mobile broadband services in the city will now be available on high-speed 4G. 

Airtel has reframed the 900 MHz band spectrum being used for 3G to further strengthen its 4G network. The Company is deploying state-of-the-art L900 technology in the 900 MHz band to complement its 4G services in the 2300 Mhz and 1800 Mhz bands.

With L900, Airtel smartphone customers will enjoy improved 4G availability inside buildings - homes, offices and malls. It will also result in wider availability of Airtel 4G and superior network experience across Kolkata.

Wipro agrees to sell remaining 11% stake in WAISL for Rs55 lakh

Wipro said in the filing post market hours on Thursday that it has exited its joint venture WAISL by selling its 11% shareholding to Antariksh Softtech for Rs55 lakh.

WAISL, which was originally a Joint Venture (JV) between Wipro Limited (74%) and Delhi International Airport Limited (DIAL) (26%), provides various IT Services at Indira Gandhi International Airport, New Delhi, the company said in the press note.

Cox & Kings defaults on short-term debt repayment; trades at 52-week low

Shares of Cox & Kings touched 10% lower circuit at Rs36.45 on the BSE today. Cox & Kings said it has defaulted on the payment of commercial papers due to cash flow mismatch and a situation exacerbated by rating downgrade.

The company said it has defaulted on repayment of unsecured commercial paper. Out of the aggregate amount of Rs200cr, Rs50cr has been paid and the balance amount of Rs150cr has not been paid, the company said in the filing post market hours on Thursday.

Glenmark gets USFDA approval for Ezetimibe and Simvastatin

Glenmark Pharmaceuticals Inc., USA (Glenmark) has been granted final approval by the United States Food & Drug Administration (USFDA) for Ezetimibe and Simvastatin Tablets, 10 mg/10 mg, 10 mg/20 mg, 10 mg/40 mg, and 10 mg/80 mg, a generic version of Vytorin Tablets, 10 mg/10 mg, 10 mg/20 mg, 10 mg/40 mg, and 10 mg/80 mg, of MSD International GmbH. 

In addition to these internal filings, Glenmark continues to identify and explore external development partnerships to supplement and accelerate the growth of its existing pipeline and portfolio. 

According to IQVIA sales data for the 12-month period ending April 2019, the Vytorin Tablets market achieved annual sales of approximately $92.4 million, the company said in the filing.

Power Grid to consider fund raising

Shares of Power Grid Corporation of India Ltd were trading flat at Rs208.45 on the BSE. The company said in the filing that the board of directors of the company is scheduled to meet on July 03, 2019.

Further, the board to consider and approve amongst other items of Agenda, an agenda to raise funds up to ~Rs10,000cr, from domestic market through issue of secured I unsecured, non-convertible, non-cumulative / cumulative, redeemable, taxable / tax-free Debentures / Bonds under Private Placement during the Financial Year 2020-21 in upto 20 tranches / offers, the company said in the filing.

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Closing Bell By CapitalStars

DAILY NIFTY SMART MOVERS 

SCRIPTS PRICE PRE. CLOSE CHANGE (%) CHANGE (Rs.) VOLUME

Apollo Hospital Ent.

1362.95 1312.95 3.81 50.00 68.62

PNB

79.80 78.00 2.31 1.80 2788.45

HDFC Life Insurance

464.50 455.15 2.05 9.35 255.59

GAIL India

311.90 307.15 1.55 4.75 283.20

Crompt.Greaves Cons.

232.60 229.20 1.48 3.40 10.25

DAILY NIFTY TOP LAGGARDS

SCRIPTS PRICE PRE. CLOSE CHANGE (%) CHANGE (Rs.) VOLUME

Yes Bank

108.60 112.40 -3.38 -3.80 4504.12

Mah & Mah Finl. Serv

386.60 399.70 -3.28 -13.10 59.05

Indiabulls Housing

607.40 627.40 -3.19 -20.00 758.32

Bharti Infratel

266.90 274.45 -2.75 -7.55 87.24

Tata Motors - DVR

79.55 81.80 -2.75 -2.25 170.61

BEST CALL OF THE DAY (FINAL TG )

FUTURE INTRADAY 

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Market Live By CapitalStars 28/Jun/2019

Nifty likely to open higher.

The Nifty50 is likely to open higher on Friday tracking Asian markets which were trading higher as investors clung on to hopes that a meeting between U.S. President Donald Trump and Chinese President Xi Jinping this weekend could lead to an easing of trade tensions. The S&P 500 and the Nasdaq closed higher in a broad-based rally on Thursday as investors looked to the G20 summit in Osaka, said a Reuters report. The benchmark S&P 500 snapped its four-day losing streak, closing within 1% of its all-time high, reached a week ago. Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 15 points or 0.13 percent. Nifty futures were trading around 11,907-level on the Singaporean Exchange. The S&P BSE Sensex slipped 5 points to 39,586 while the Nifty50 closed 6 points lower at 11,841 on Thursday.

Global Market:

Asian Markets: Asian markets are lower today as Chinese and Hong Kong shares fall. The Shanghai Composite is off 1.04% while the Hang Seng is down 0.61%. The Nikkei 225 is not trading.

US Markets: North and South American markets finished mixed as of the most recent closing prices. The S&P 500 gained 0.38% and the Bovespa rose 0.04%. The IPC lost 1.09%.

European Markets: European markets finished mixed as of the most recent closing prices. The DAX gained 0.21%, while the FTSE 100 led the CAC 40 lower. They fell 0.19% and 0.13% respectively.

Major Headlines of the day:

Rupee stands at 69.01 per dollar.

Axis Bank to consider $1.3 bn share sale: Media reports The bank plans to seek board approval for the sale as early as next month, the people said, asking not to be identified as the information is private, media report added.

Sunteck Realty to build an expansive portfolio in commercial & retail properties over next 4 years Sunteck is exploring opportunities in the western suburbs of Mumbai to grow this retail & commercial portfolio.

Jubilant Foodworks rises as Citi expect 14% upside, maintains buy The share touched its 52-week high Rs 1,575.00 and 52-week low Rs 982.00 on 28 August, 2018 and 26 October, 2018, respectively.

Trend in FII flows:- The FIIs were Net Value of Rs -0.71 segment while the DIIs were Net Value of 196.57 the provisional figures.

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For more details call on 9977499927 or visit our website www.capitalstars.com

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Opening Bell By CapitalStars 28/Jun/2019

CS NIFTY FUTURES (JUL) OVERVIEW

TREND BEARISH

RES 2: 12100

RES 1: 11980

SUP 1: 11720

SUP 2: 11600

CS BANK NIFTY FUTURES (JUL) OVERVIEW

TREND BEARISH 

RES 2: 31780

RES 1: 31500

SUP 1: 31000

SUP 2: 30820

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CORPORATE NEWS By CapitalStars 27/Jun/2019

Adani Ports raises $750mn via overseas bonds

Adani Ports And Special Economic Zone Ltd. on Wednesday launched a $750mn offshore bond sale to repay existing loans and finance capital expenditure, as per media reports.

The funds are planned to be used for capital expenditure, including on-lending to subsidiaries to meet their capital expenditure needs, and for repaying existing debt. The fixed rate unsecured notes shall be listed on the Singapore Exchange.

The US dollar-denominated bonds are priced at a mark-up of 265 basis points over the 10-year US benchmark yield," according to a LiveMint report.

Sunteck Realty to build an expansive portfolio in commercial & retail properties over next 4 years

Sunteck Realty Ltd, India Premium Real Estate Developer is gearing to create a large portfolio with an investment of Rs5,000cr in commercial and retail properties over the next 4 years.

This well planned strategic growth in the Commercial and Retail Real Estate Market will set a benchmark trend.

Having successfully established its presence across all the segments from ultra Uber luxury to aspirational luxury residential segment at Bandra Kurla Complex(BKC), Oshiwara District Centre(ODC) and Naigaon, Sunteck is now focussing on building a premium commercial and retail portfolio of 3 mn sq ft (approx.) in ODC,1.5 to 2 mn sq ft (approx.) in and around BKC, and 1 mn sq ft(approx.) in Naigaon. Thus a total of over 6 mn sq ft(approx.).

Sun Pharma enters into a license agreement with China Medical System Holdings

Sun Pharmaceutical Industries Ltd. announced that one of its wholly owned subsidiaries has entered into a licensing agreement with a subsidiary of China Medical System Holdings Ltd. (CMS) for the development and commercialization of Tildrakizumab, an innovative biologic product, for psoriasis and psoriatic arthritis in Greater China (including Mainland China, Hong Kong Special Administrative Region, Macao Special Administrative Region and Taiwan).

Under terms of the license agreement, CMS will pay Sun Pharma an initial upfront payment, regulatory and sales milestone payments, and royalties on net sales, the terms of which are confidential. CMS will be responsible for development, regulatory filings and commercialization of the product in China. The initial tenure of the agreement shall be 15 years from the first commercial sale of Tildrakizumab in Greater China, and may be extended for additional 3 years subject to certain conditions defined in the agreement.

L&T Hydrocarbon Engineering bags twin contracts from ONGC

L&T- Hydrocarbon Engineering Limited (LTHE), a wholly owned subsidiary of Larsen & Toubro, has won twin orders from Oil & Natural Gas Corporation (ONGC).

The Engineering, Procurement, Construction, Installation and Commissioning (EPCIC) contracts awarded are for Development of Heera Panna Block of Western Offshore basin which is located about 70 km of South West of Mumbai High. The project includes two (02 Nos.) wellhead platforms, -49km subsea rigid pipelines, 10 nos. of riser installation and modification work at seven existing platforms and Heera Process Complex, the company said in the press note.

Trump demands India withdraw tariffs ahead of meeting with Modi

Ahead of meeting with India PM Modi on the G20 Summit, US President Donald Trump has hit out at the Modi government and said that India's tariffs on US products is "unacceptable" and they must be withdrawn, according to the media reports.

US President Donald Trump tweeted that, I look forward to speaking with Prime Minister Modi about the fact that India, for years having put very high Tariffs against the United States, just recently increased the Tariffs even further. This is unacceptable and the Tariffs must be withdrawn!

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Closing Bell By CapitalStars 27/Jun/2019

DAILY NIFTY SMART MOVERS 

SCRIPTS PRICE PRE. CLOSE CHANGE (%) CHANGE (Rs.) VOLUME

Tata Motors - DVR

81.60 78.50 3.95 3.10 437.53

Federal Bank

108.40 104.50 3.73 3.90 856.38

Piramal Enterprises

1945.85 1879.45 3.53 66.40 82.74

Siemens

1292.30 1252.75 3.16 39.55 59.16

HDFC Life Insurance

455.50 442.05 3.04 13.45 146.70

DAILY NIFTY TOP LAGGARDS

SCRIPTS PRICE PRE. CLOSE CHANGE (%) CHANGE (Rs.) VOLUME

Crompt.Greaves Cons.

229.85 235.45 -2.38 -5.60 369.74

Tech Mahindra

702.65 718.20 -2.17 -15.55 349.06

Biocon

248.00 252.85 -1.92 -4.85 150.70

HCL Tech.

1061.95 1080.40 -1.71 -18.45 31.66

Aurobindo Pharma

611.00 621.10 -1.63 -10.10 88.08

BEST CALL OF THE DAY (FINAL TG )

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CASH INTRADAY 

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Investment  trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance. CapitalStars Investment Adviser: SEBI Registration Number: INA000001647

 

For more details call on 9977499927 or visit our website www.capitalstars.com

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Opening Bell By CapitalStars 27/Jun/2019

CS NIFTY FUTURES (JUN) OVERVIEW

TREND BEARISH

RES 2: 12150

RES 1: 12000

SUP 1: 11720

SUP 2: 11600

CS BANK NIFTY FUTURES (JUN) OVERVIEW

TREND BEARISH 

RES 2: 31585

RES 1: 31400

SUP 1: 30950

SUP 2: 30800

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For more details call on 9977499927 or visit our website www.capitalstars.com

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