Market Live : Nifty likely to open higher.

The Nifty50 is likely to open higher on Wednesday following a mixed trend seen in other Asian markets. Overnight, US markets closed higher after the United States temporarily eased curbs on China's Huawei Technologies Co Ltd. Asian stocks were on shaky ground on Wednesday, as earlier relief over Washington's temporary relaxation of curbs against China's Huawei Technologies failed to offset deeper worries about trade frictions between the worlds two largest economies said a Reuters report. Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 29.5 points or 0.25 percent. Nifty futures were trading around 11,756-level on the Singaporean Exchange. As many as 140 companies will report their results for March quarter which include names like Ashok Buildcon, Bank of Baroda, Canara Bank, Cipla, Cummins India, IndusInd Bank, MOIL, Thermax, etc. among others.

Global Market:

Asian Markets: Asian markets are higher today as Chinese and Hong Kong shares show gains. The Shanghai Composite is up 0.02% while the Hang Seng is up 0.25%. The Nikkei 225 is not trading.
US Markets: North and South American markets finished mixed as of the most recent closing prices. The Bovespa gained 2.76% and the S&P 500 rose 0.85%. The IPC lost 0.76%.
European Markets: European markets finished higher today with shares in Germany leading the region. The DAX is up 0.85% while France's CAC 40 is up 0.50% and London's FTSE 100 is up 0.25%.

Major Headlines of the day:

Rupee opens at 69.68 per dollar.

DHFL puts fresh deposits, renewals on hold: Media reports The company has been subject to multiple downgrades in recent month.

United Breweries gains 5% post Q4FY19 results The company's total income during the final quarter of FY19 was up 5.84% to Rs3,469.3cr vs. Rs3,277.85cr in the corresponding quarter of the previous fiscal.

BPCL and HPCL fall despite strong Q4 nos; brokerages assign mixed ratings Brokerage firm CLSA has a sell rating on both companies, with a target at Rs 300 per share for BPCL and Rs 210 per share for HPCL. However, Deutsche Bank has a buy rating on both oil refining majors.

Earnings Reaction To Watch
BAJAJ ELECTRIC
BANK OF BARODA
CANARA BANK
CUMMINS
INDUSINDBK
JK LAXMI CEM
RAMCO cement

The trend in FII flows:- The FIIs were Net Value of Rs 1185.44 segment while the DIIs were Net Value of -1090.32 the provisional figures.

Securities in Ban For Trade Date 22-MAY-2019
JETAIRWAYS
RELCAPITAL
ADANIPOWER
IDBI

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Nifty Like To Open 22-OCT-2018

 

Indian Indices:                           Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 12 points or 0.12 percent. Nifty futures were trading around 10,316-level on the NSE Exchange.

Global Market:

·       Asian markets: MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.25 percent. Japan’s Nikkei slipped 1.0 percent and South Korea stocks lost 0.7 percent.

·       US Markets: The Dow Jones Industrial Average rose 64.89 points, or 0.26 percent, to 25,444.34, the S&P 500 lost 1 point, or 0.04 percent, to 2,767.78 and the Nasdaq Composite dropped 36.11 points, or 0.48 percent, to 7,449.03.

·       European markets: European markets finished mixed as of the most recent closing prices. The FTSE 100 gained 0.32%, while the CAC 40 led the DAX lower. They fell 0.63% and 0.31% respectively.

·       Major Headlines of the day:

·          NBFC liquidity squeeze hits loans against property market. 

·          Rupee recovers early losses; gains 9 paise

·         Trend in FII flows:-  The FIIs were Net Value of Rs -618.26 CR. cash segment while the DIIs were Net Value of  -2.14 CR. per the provisional figures.

Securities in Ban For Trade Date 22-OCT-2018

ADANIPOWER

DHFL

JETAIRWAYS

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CORPORATE NEWS. 19-OCT-2018

Housing finance stocks cracked amid heavy selling pressure

Markets witnessed a volatile trading session with across-the-board selling pressure witnessed in all the major HFC names with Indiabulls Housing Finance, Repco Home, Gruh Finance, HDFC Ltd tumbling 16.5%, 8.7%, 6.7%, & 4.2%, respectively.Nifty Bank index relatively outperformed the Nifty index, but both indices shed 0.4% & 1.25%, respectively, at the close. The market breadth ended heavily in the favor of the declines with advance/decline ratio closing at 2:5x. Tracking the derivative data points, both Nifty & Bank Nifty witnessed a rise in open interest with a fall in the underlying price, indicating a build-up of short positions.On the options front, heavy call writing was witnessed in Nifty at-the-money and out-of-the-money strikes from 10300CE to 10500CE, hinting a continued selling pressure for the index at the higher level.India Vix ended the day 10% higher at 19.8.

UltraTech Cement drops 3% post Q2FY19 numbers

Shares of UltraTech Cement were trading down 3% in afternoon session on Friday after its Q2FY19 numbers missed street expectation.UltraTech Cement has reported a weak set of numbers for Q2FY19 on the operating front. Revenue in the quarter was in-line but PAT disappointed.The company has reported a revenue growth of 20% yoy to Rs8,151.5cr against an estimate of Rs7,936.4cr. The company, however, has reported a decline of 11.3% yoy in PAT to Rs375.7cr, 17% lower than the estimates. Read more.UltraTech Cement Ltd share price is currently at Rs3,585.50, down Rs144.9, or 3.88%, from its previous close of Rs3,730.40 on the BSE.The scrip opened at Rs3,640 and has touched a high and low of Rs3,646 and Rs3,529.05, respectively. So far, 7,01,149 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs1,02,447.06cr.

Lupin gets five observations in gSpiriva pre-approval inspection;

Lupin has announced that its Pithampur Unit-3 (Indore) has recently been inspected by the USFDA and has received five observations. The GMP inspection was pre-approved in nature for Lupin’s Tiotropium DPI ANDA.  This inspection was conducted between October 8-18, 2018. The company has said that these observations are procedural in nature.Tiotropium DPI is sold by Boehringer Ingelheim Pharmaceuticals under the brand Spiriva (in powder form). Spiriva is indicated in the treatment of chronic obstructive pulmonary disease (COPD). It is a patented drug and was approved by the USFDA in 2004. Boehringer Ingelheim Pharmaceuticals is also in a litigation battle against Lupin over Spiriva.While Lupin is seeking an approval on this drug, five observations at the facility delay the final approval by some time. Note that this is not the same facility for which the company has received a warning letter.

RBI extends FY19-20 gilts to bridge fiscal deficit

As the 2019 general elections loom large, the PM Narendra Modi-led government is skidding towards meeting its fiscal deficit target of 3.3% of the GDP this fiscal.After announcing its decision to reduce market borrowing target for FY19, i.e., borrowing Rs70,000cr less from the market than the budgeted Rs6.05lakh cr, concerns were raised about how the government will meet its target.

The government, however, was confident about fulfilling its target and is now making efforts to meet the same. Thus, it has asked the country’s apex bank the Reserve Bank of India (RBI) to convert two securities maturing in 2018-2019 and 2019-20 having a total face value of Rs6,155cr to two longer-tenor securities maturing in 2025-26 and 2023-24, respectively.Though the government does not have to worry about repaying these right away, recovery pressure will probably continue to haunt it, requiring the government to resort to this stunt in the future.Meanwhile, how will this affect the markets? When the government needs money, it borrows from its banker, the RBI, which in turn, takes money from lenders such as banks, insurance companies, and mutual funds.

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CS OPENING BELL19-OCT-2018

NIFTY SPOT DOWN 133 @10319

SENSEX SPOT DOWN 430 @34376

BANK NIFTY FUTURES DOWN 174 @25003

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CS NIFTY FUTURES (OCT ) OVERVIEW

TREND BEARISH

RES2: 10800

RES 1:10700

SUP1:10400

SUP2:10310 

CS BANK NIFTY FUTURES (OCT ) OVERVIEW

TREND BULLISH

RES 2: 25550

RES 1: 25300

SUP1: 24900

SUP2: 24750 

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MARKET WRAP-UP 11-OCT-2018

Closing Bell: Sensex ends 750 points lower, PSU banks drag Nifty below 10,250

A sell-off in global markets had its impact on the local market, as the Sensex closed over 700 points lower, while the Nifty ended just around 10,250-mark.

Weakness was visible among banking names, particularly in PSU banks along with metals, automobiles, pharmaceuticals, and IT names. A recovery in rupee from record lows failed to make any impact.

At the close of market hours, the Sensex closed down 759.74 points or 2.19% at 34001.15, while the Nifty ended lower by 225.40 points or 2.15% at 10234.70. The market breadth is negative as 824 shares advanced, against a decline of 1,736 shares, while 866 shares were unchanged.

Yes Bank, ONGC, HPCL and IOC were the top gainers, while State Bank of India, Tata Steel, Indiabulls Housing Finance and Bajaj Finserv lost the most.

HEADLINES OF THE DAY

PTC India signs deals for power supply to Bangladesh

ONGC to buy 27 rigs for up to Rs3,500cr

Yes Bank gains 3% ahead of CEO-search committee meet

The crucial resistance for the Nifty spot is now seen at 10400 and above this 10530 Support for the immediate term is now placed at 10150 next support will be 10000.

RESULTS TOMORROW:  HUL, KTKBANK, TATASPONGE 

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CORPORATE NEWS 05-OCT-2018

As RBI keeps rates unchanged, rupee breaches 74

The Indian rupee nosedived further, crossing the 74 mark against the dollar for the first time after the Reserve Bank of India (RBI) kept key rates unchanged. It was trading at an all-time low of 74.10 per dollar.

In its fourth bi-monthly policy review today, the RBI took the markets by surprise as it kept the repo rate unchanged at 6.50%. Investors were expecting a rate hike of about 25bps, especially given the ongoing concerns about rising crude prices, a weakening currency, and rising inflationary pressure. Further, the apex bank switched to a "calibrated tightening stance" from "neutral," suggesting rate hikes in the future.

Cadila receives final approval from USFDA for Exemestane tablets

Zydus Cadila has received an approval from the USFDA to market Exemestane tablets (US RLD, AROMASW tablets), 25 mg, the company said in a statement to the exchanges on Friday.

The company will produce these tablets in its formulations manufacturing facility at SEZ, Ahmedabad. "The estimated sales of Exemestane tablets are $68.6mn," said Cadila in a press note.

Reliance Health Insurance gets final approval from IRDAI to start operations

Reliance Health Insurance, a wholly owned subsidiary of Reliance Capital, announced that it has received R3 approval from IRDAI for its new health insurance business.

The new company will commence operations by the December quarter of 2018.

Anmol Ambani, Executive Director, Reliance Capital said, "The scope of health insurance in India is massive and, given the current low penetration, is expected to grow multi-fold over the next few years. Setting up a standalone health insurance company with an extremely experienced and capable leadership will allow us to put the right kind of focus this segment requires.”

Dilip Buildcon bags orders worth Rs473.02cr

Dilip Buildcon has received a Letter of Acceptance (LoA) worth Rs473.02cr from Urban Administration and Development Department, Bhopal, the company said in a press note to the exchanges on Friday.

An order worth Rs247.06cr has been bagged for design and construction of elevated viaduct of 6.225km length between AIIMs and Subhash Nagar (excluding stations) including entry and exit ramp to depot for Bhopal and Indore Metro Rail project, Phase-1, the company said.

Sun Pharma gets NAI at Halol

USFDA has changed the status of Sun Pharma’s Halol manufacturing facility to NAI - No Action Indicated. This plant had received six form 483 observations from USFDA for the inspection done during August 27-31. The NAI at this plant means that the inspection is now closed at this plant. The attention will now move on to the launch and ramp-up of the market share in its specialty pipeline.

Post the August observations, we had expected that the inspection was a product pre-approval inspection. Note that on September 14, 2018, Sun Pharma received the USFDA approval for the New Drug Application (NDA) of Xelpros (latanoprost ophthalmic emulsion). The drug is indicated for the reduction of elevated intraocular pressure (IOP, or pressure inside the eye) in patients with open-angle glaucoma or ocular hypertension. The product approval and subsequent clearance to this plant means that this was indeed a product pre-approval inspection.

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CS OPENING BELL 05-OCT-2018

NIFTY SPOT DOWN 88 @10510

SENSEX SPOT DOWN 163 @35005

BANK NIFTY FUTURES UP 15 @24878

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CS NIFTY FUTURES (OCT ) OVERVIEW

TREND BEARISH

RES2: 10850

RES 1:10680

SUP1:10490

SUP2:10330 

CS BANK NIFTY FUTURES (OCT ) OVERVIEW

TREND BULLISH

RES 2: 25210

RES 1: 24900

SUP1: 24620

SUP2: 24400 

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CS OPENING BELL 01 OCT 2018

NIFTY SPOT DOWN 48 @10877

SENSEX SPOT DOWN 95 @36107

BANK NIFTY FUTURES DOWN 214 @25000

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CS NIFTY FUTURES (OCT ) OVERVIEW

TREND BEARISH

RES2: 11280

RES 1:11140

SUP1:10910

SUP2:10800

CS BANK NIFTY FUTURES (OCT ) OVERVIEW

TREND BULLISH

RES 2: 25800

RES 1: 25550

SUP1: 24800

SUP2: 24420 

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CS OPENING BELL: 27-Sep-2018

NIFTY SPOT UP 15 @11069

SENSEX SPOT UP 50 @36593

BANK NIFTY FUTURES DOWN 3 @25478

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CS NIFTY FUTURES (SEP ) OVERVIEW

TREND BEARISH

RES2: 11280

RES 1:11140

SUP1:10910

SUP2:10800 

CS BANK NIFTY FUTURES (SEP ) OVERVIEW

TREND BULLISH

RES 2: 25800

RES 1: 25550

SUP1: 24800

SUP2: 24420 

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CS OPENING BELL:24-Aug-2018

NIFTY SPOT DOWN 10@11572

SENSEX SPOT DOWN 21@38314

BANK NIFTY FUTURES DOWN 35@ 28063

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CS NIFTY FUTURES (JUNE ) OVERVIEW

TREND BEARISH

RES2: 11750

RES 1:11640

SUP1:11510

SUP2:11380

CS BANK NIFTY FUTURES (JUNE ) OVERVIEW

TREND BULLISH

RES 2: 28550

RES 1: 28200

SUP1: 27900

SUP2: 27720

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