Trader's Diary: All eyes on US Federal Reserve meet
Benchmark indices on Monday came out on top, breaking out of a tight range they were trading for a couple of weeks, to end at fresh closing high.
1 New Update
08:06:52 PM IST, 18 September 2017
IN LIMELIGHT
Block deal in Indiabulls Realty. Over 1 crore shares changed hands on Monday
07:58:32 PM IST, 18 September 2017
RACING AHEAD
Bajaj Auto reclaims top spot from Eicher in market cap
07:54:01 PM IST, 18 September 2017
HEARD ON D-STREET
Indiabulls Real Estate will be excluded from the futures and options segment with effect from December 1, the National Stock Exchange of India said in a circular on Monday.
07:44:59 PM IST, 18 September 2017
DIXON TECHNOLOGIES MAKES FIFTH BEST MARKET DEBUT IN 7 YEARS
Consumer electronics maker Dixon Technologies India listed with a 54% premium over its offer price on Monday marking the fifth best stock market debut in the past seven years.
07:20:40 PM IST, 18 September 2017
BONDS DROP, CALL RATES RULE STABLE
Government bonds (G-Secs) dropped further on sustained selling pressure from banks and corporates. While, Interbank call money rates ruled steady as demand from borrowing banks match supplies.
07:19:57 PM IST, 18 September 2017
RUPEE GIVES AWAY INITIAL GAINS, DOWN 5 PAISE AT 64.13
The rupee surrendered its initial gains against the US dollar and ended lower by 5 paise to 64.13 on fag-end demand for the American currency from banks and importers on the back of higher greenback overseas.
06:58:29 PM IST, 18 September 2017
NIFTY50 FORMS BULLISH CANDLE; MAY HEAD TOWARDS 10,250
The Nifty50 index at last broke out of its strong resistance of 10,137, also its previous all-time high, to settle at a record closing high on Monday. In the process, the index formed a bullish candle on the daily chart.
06:27:10 PM IST, 18 September 2017
F&O: PUT WRITING AT 10,150 & 10,200 SHOWS NIFTY LIKELY TO STAY AT NEW HIGH
The Nifty50 index opened in the positive and made a new record lifetime high of 10,171 on Monday. It surpassed the previous lifetime high of 10,138 and registered the highest daily close above 10,150.
05:55:20 PM IST, 18 September 2017
SEBI ALLOWS REITS, INVITS TO RAISE FUNDS THROUGH BONDS
With a view to boost infrastructure investment in the country, markets regulator Securities and Exchange Board of India (Sebi) on Monday allowed Infrastructure Investment Trusts (InvITs) and Real Estate investment Trust (REITs) to raise capital by issuing debt securities
04:45:30 PM IST, 18 September 2017
Continued inflow in domestic funds, benign interest rate environment, stable currency coupled with favorable global cues is driving markets higher. Anxiety in global markets over North Korea has tapered off. Meanwhile India has received Rs 20,000 crore of inflow in domestic mutual funds in Aug’17 – an all-time high. We believe while valuations are not euphoric, they are rich vs. long period averages and therefore support from earnings pick up is critical to sustain these valuations, going forward. We prefer large-caps to mid-caps owing to valuation gaps. Earnings visibility and valuation comfort are key determinants for our preferred ideas
- Gautam Duggad, Head- Research, Motilal Oswal Institutional Equities
04:19:54 PM IST, 18 September 2017
Factors which will play important role in giving direction to the market will be consequences’ of ongoing geopolitical tensions between US and North Korea coupled with trend in global markets, investment by FPIs and DIIs, the movement of rupee against the dollar. On technical charts, double top pattern formation on daily chart indicates some pull back in Nifty.
- Kaushlendra Singh Sengar, Founder & CEO, Advisorymandi.com
04:12:44 PM IST, 18 September 2017
Stock market started the day on a positive note as strong global cues lifted investor sentiment and kept markets buoyant. European and Asia stocks edged higher as participants geared up for the Fed's interest rate decision later this week. Barring PSU bank index, all other sectoral indices on NSE traded in the green. Buying activity was seen in auto and media stocks.
- Karthikraj Lakshmanan, Senior Fund Manager – Equities, BNP Paribas MF
03:34:58 PM IST, 18 September 2017
CLOSING BELL: NIFTY ENDS AT LIFETIME HIGH
Sensex rises 151 pts; Bajaj Auto surges 4%, HUL 3%; ONGC slips 1%. Nifty50 hit a fresh closing high of 10,153.10. The index rose 67.70 points, or 0.67 per cent for the day. During the session the 50-pack index made an all-time high of 10,171.70, breaching August 2 level of Rs 10,137.
03:11:47 PM IST, 18 September 2017
We believe while valuations are not euphoric, they are rich vs. long period averages and therefore support from earnings pick up is critical to sustain these valuations, going forward. We prefer large-caps to mid-caps owing to valuation gaps. Earnings visibility and valuation comfort are key determinants for our preferred ideas.
- Gautam Duggad, Head- Research, Motilal Oswal Institutional Equities
02:58:37 PM IST, 18 September 2017
UBL GAINS ON TRANSFER OF RS 100 CRORE WORTH OF MALLYA TO CENTRAL GOVT
Shares of United Breweries rose over 1 per cent amid reports suggesting that the Enforcement Directorate (ED) has initiated the process of confiscating the assets of Vijay Mallya, which were attached by the agency under the Prevention of Money Laundering Act (PMLA).
02:23:53 PM IST, 18 September 2017
JAYPEE FLAT BUYERS SEEK INVESTIGATION OF ASSETS; SHARES PLUNGE
Shares of Jaypee Group plunged up to 7 per cent after reports that flat buyers have sought investigation of assets’ transfer between JP Associates and Jaypee Infratech. Jaiprakash Associates plunged as much as 7 per cent in Monday’s trade, while Jaypee Infratech dropped as much as 4.79 per cent during the trade.
01:47:48 PM IST, 18 September 2017
ZEE AGREES TO SELL SPORT BROADCASTING BIZ
Shares of Zee Entertainment surged over 2 per cent in Monday's trade after the broadcaster agreed to sell its sports broadcasting business to Sony Pictures Networks and its affiliates (SPNI) upon receipt of $300 million out of a total consideration of $385 million.
01:25:08 PM IST, 18 September 2017
AUTO STOCKS RALLY AHEAD OF FESTIVE SEASON
Decent gains in auto majors such as Bajaj Auto (up 3.44 per cent), Exide Industries (up 2.71 per cent), Eicher Motors (up 1.79 per cent), Tata Motors (up 1.68 per cent), Ashok Leyland (up 1.58 per cent), Hero MotoCorp (up 1.44 per cent), Bosch (up 1.36 per cent) and Motherson Sumi (up 1.08 per cent) helped Nifty auto index extend the gains for a third consecutive session on Monday.
01:24:11 PM IST, 18 September 2017
SEE RUPEE TO SUSTAIN 64 LEVEL IN NEXT 3 MONTHS: UBS
UBS' FX strategist Rohit Arora sees the rupee (USD/INR) at 64 with upside risks over the next 3 months. For the full year, the rupee could average 64.3 in FY18E and 65.4 in FY19E, he believes.
01:06:28 PM IST, 18 September 2017
TVS ELECTRONICS, BF INVESTMENT LEAD MIDCAP RALLY, GAIN 20% EACH
Robust gains in stocks such as TVS Electronics (up 19.98 per cent), BF Investment (up 19.40 per cent) and Prozone Intu Properties (up 18.27 per cent) pushed BSE Smallcap index to a record high of 16,865.55 in Monday's trade. The S&P BSE Smallcap index was trading 1.04 per cent up at 16,861 around 12.35 pm (IST), with Monnet Ispat & Energy (up 13.33 per cent), BF Utilities (up 12.09 per cent), Saurashtra Cements (up 11.37 per cent), Emmbi Industries (up 11.21 per cent), TV Today Network (up 10.35 per cent) and Capri Global Capital (up 10.04 per cent) gaining over 10 per cent.
01:04:54 PM IST, 18 September 2017
DIXON TECH RALLIES 66% ON LISTING DAY
Consumer electronics manufacturer Dixon Technologies climbed over 66 per cent in Monday's trade after making a stellar debut earlier in a day. The scrip rallied further and hit a high of Rs 2,998 on BSE. At 1 pm, the stock was trading at Rs 2935, up 66.20 per cent. The stock, earlier in the day, made a stellar debut on BSE, as the scrip got listed at Rs 2,725, a premium of 54.30 per cent over its issue price of Rs 1,766.
12:31:27 PM IST, 18 September 2017
LAGGARDS THAT CAN GIVE SOLID RETURNS
Credit Suisse on September 13 raised its target price for Sun Pharma to Rs 595 from Rs 490 earlier. CLSA believes inexpensive valuation has turned the IT sector attractive. It has ‘buy’ ratings on HCL Tech and TCS.
12:28:56 PM IST, 18 September 2017
CHINA STOCKS RALLY ON STRONG DATA
China and Hong Kong stocks rose on Monday as stronger-than-expected Chinese loan data added to views that economic growth is holding up well despite slowly rising borrowing costs and a crackdown on riskier forms of financing.
11:52:32 AM IST, 18 September 2017
IPO UPDATE: ICICI LOMBARD IPO SUBSCRIBED 32%
The Rs 5700 crore initial public offer (IPO) by ICICI Lombard General Insurance Company, got 32 per cent subscription on Day 2 of the bidding process. By 10.45 am, investors bade for 1,99,04,434 shares, which was 32 per cent of the total issue size of 6,16,66,740 shares. The quota limit for qualified institutional investors was subscribed 62 per cent, while hat of retail individual investors (RIIs) by 30 per cent).
11:51:54 AM IST, 18 September 2017
DOMINO'S PIZZA MAKER, OTHERS GAIN ON McD's BUZZ
Shares of Speciality Restaurants that owns fine-dining brands Mainland China and Oh! Calcutta and Jubilant FoodWorks that operates well known global brands Domino's Pizza and Dunkin Donuts climbed up to 7 per cent in Monday's session amid reports that the two companies were among those keen on partnering McDonald's. Following the development, shares of Speciality Restaurants surged 7.47 per cent to hit a high of Rs 123 on BSE, before retreating a bit. Jubilant FoodWorks gained 1.64 per cent to Rs 1,381.50.
11:50:35 AM IST, 18 September 2017
ALLAHABAD BANK GAINS ON MERGER NEWS
Shares of Allahabad Bank gained 2 per cent ahead of its board meet on Wednesday to consider a merger proposal with subsidiary AllBank Finance. In a filing to BSE on Saturday, the bank said, "The board of state-owned Allahabad Bank will meet on Wednesday to consider a draft scheme of amalgamation of its wholly-owned subsidiary AllBank Finance."
11:32:31 AM IST, 18 September 2017
BULLS ROAR ON DALAL STREET: 5 FACTORS FUELLING THIS RALLY
The BSE Sensex was 218 points, or 0.68 per cent, up at 32,491 in the morning trade. Sharp gains on the benchmark indices surprised many, as investor community still awaits more clarity on geo-political developments in the Korean peninsula, and the outcome of the US Federal Reserve meeting, later in the week. Going by the buzz on Dalal Street, here is a list of five factors that supported NSE Nifty index to hit fresh record high on Monday.
11:25:42 AM IST, 18 September 2017
ICICI LOMBARD IPO SUBSCRIBED 32% ON DAY 2; QIB BIDS AT 62%
The Rs 5,700 crore initial public offer (IPO) by ICICI Lombard General Insurance Company, got 32 per cent subscription on Day 2 of the bidding process. By 10.45 am, investors bade for 1,99,04,434 shares, which was 32 per cent of the total issue size of 6,16,66,740 shares. The quota limit for qualified institutional investors was subscribed 62 per cent, while hat of retail individual investors (RIIs) by 30 per cent).
11:13:16 AM IST, 18 September 2017
NIFTY MIDCAP INDEX HITS RECORD HIGH; RELIANCE POWER GAINS OVER 3%
The Nifty Midcap 50 index gained as much as 42 points to hit fresh record high of 4,971 in Monday's morning trade. The Nifty Midcap 50 was trading 34 points or 0.70 per cent up at 4,963, with shares of Reliance Power (up 3.58 per cent), Exide Industries (up 2.64 per cent), Voltas (up 1.99 per cent) and Strides Shasun (up 1.94 per cent) gaining significantly.
11:00:08 AM IST, 18 September 2017
OVER 90 STOCKS HIT FRESH 52-WEEK HIGHS TODAY
Over 90 stocks, including Ashok Leyland, Bajaj Auto, Bata India, Britannia Industries, DHFL, Gruh Finance, HDFC Bank, Larsen & Toubro, Page Industries, Tata Elxsi and TVS Motor hit fresh 52-week highs on NSE in Monday's trade. On the other hand, Bharat Road Network, Hindustan Dorr-Oliver, Nagarjuna Oil Refinery, Piramal Phytocare and Tera Software were among the 14 stocks that hit new 52-week lows in Monday's trade so far.
10:36:51 AM IST, 18 September 2017
HDFC BANK SCALES FRESH RECORD HIGH; SHOULD YOU BUY?
Shares of HDFC Bank scaled fresh record high of Rs 1,863.90 in morning trade on Monday. The scrip was trading 0.71 per cent up at Rs 1,861.95. HDFC Bank is on rising spree since the beginning of the ongoing calendar year. On a year-to-date basis, shares of the private sector lender have surged 54 per cent till September 15.
10:13:38 AM IST, 18 September 2017
BHARAT ROAD NETWORK MAKES TEPID DEBUT
Bharat Road Network on Monday made a tepid debut on BSE, as the scrip got listed at Rs 204.90, a discount of 0.05 per cent over its issue price of Rs 205. The Rs 600 crore IPO, which was sold during September 6-8, was subscribed 1.81 times. The portion set aside for qualified institutional buyers (QIBs) was subscribed 1.33 times, non institutional investors 1.63 times and retail individual investors 5.69 times.
10:11:23 AM IST, 18 September 2017
DIXON TECHNOLOGIES LISTS AT 54% PREMIUM TO ISSUE PRICE
Consumer electronics manufacturer Dixon Technologies on Monday made a stellar debut on BSE, as the scrip got listed at Rs 2,725, a premium of 54.30 per cent over its issue price of Rs 1,766. At the issue price, P/E multiple worked out to be 38.5 times of FY2017 EPS while on P/BV basis, the stock was valued at 9.8 times of FY2017 book value.
09:45:53 AM IST, 18 September 2017
RUPEE OPENS 3 PAISE HIGHER AGAINST US DOLLAR AT 64.05
The rupee on Monday opened 3 paise up at 64.05 against dollar on account of selling of American currency by banks and exporters amid firm global cues. The local currency on Friday settled 4 paise up at 64.08 a dollar.
09:21:40 AM IST, 18 September 2017
OPENING BELL: NIFTY HITS FRESH RECORD HIGH
Sensex rises nearly 200 points; Tata Motors up 2%, Dr Reddy's slips 1%.
09:02:37 AM IST, 18 September 2017
PRE-OPEN SESSION: SENSEX TOPS 32,350
Sensex tops 32,350; Nifty50 above 10,140;Rupee trades at 64.05 against US dollar.
08:44:21 AM IST, 18 September 2017
SIGNAL FROM SINGAPORE
Nifty50 futures on the Singapore Stock Exchange were trading 29 points, or 0.29 per cent, higher at 10,123, indicating a positive opening for the domestic market.
08:44:01 AM IST, 18 September 2017
NIFTY TECHNICAL CHARTS
The index failed to take out its recent all-time high of 10,138, even after coming to a kissing distance of it, almost on a daily basis, suggesting uneasiness among traders at higher levels. Some experts believe one should be cautiously positive on the index as it seems that the index is topping at the prevailing levels.
08:43:50 AM IST, 18 September 2017
NEW KIDS ON THE BLOCK: DIXON, BHARAT ROAD TO MAKE ST DEBUT TODAY
Dixon Technologies and Bharat Road Network, which have concluded their initial public offers (IPOs) recently, will make stock market debut on Monday. Consumer electronics manufacturer Dixon Technologies’ IPO was subscribed 117.83 times between September 6 and 8. The IPO of Bharat Road Network was subscribed 1.81 times during September 6-8.
08:42:59 AM IST, 18 September 2017
GEOPOLITICAL TENSIONS STILL PREVAIL
The US on Sunday said the time was running out for a peaceful solution between Kim Jong Un’s regime and the US. North Korean diplomats will have a front-row seat at the UN General Assembly for President Donald Trump’s speech on Tuesday morning, which will touch on the escalating crisis that has seen Washington and Pyongyang trade threats of military action, Reuters reported.
08:42:30 AM IST, 18 September 2017
RUPEE TO HIT 61 LEVEL BY MARCH: ET POLL
An ET poll showed majority of the 20 financial market participants expect foreign portfolio investments (FPI) to underpin the rupee’s ascent to 61 versus the dollar by March. Six of those polled said the rupee could be in the 58-62 range by end-FY18. On September 15, it closed at 64.08.
08:42:09 AM IST, 18 September 2017
ASIAN STOCKS EDGE HIGHER
MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.16 per cent having already reached heights not visited since late 2007.Australia’s main index added 0.4 per cent but Japan’s Nikkei was closed for a holiday.
08:41:46 AM IST, 18 September 2017
US STOCKS ON FRIDAY
On Wall Street, the Dow Jones Industrial Average index rose 64.86 points, or 0.29 per cent, to 22,268. The S&P500 index gained 4.61 points, or 0.18 per cent, to 2,500 and the Nasdaq Composite index added 19.38 points, or 0.3 per cent, to 6,448. For the week, the Dow gained 2.16 per cent, the S&P500 index 1.58 per cent and the Nasdaq 1.39 per cent.
08:36:54 AM IST, 18 September 2017
SENSEX ON FRIDAY
The BSE benchmark settled the day at 32,272.61, up 30.68 points, or 0.10 per cent. The NSE barometer shot up in late trade and at one point was hovering above 10,100 level. But the index eventually settled 1.20 points, or 0.01 per cent lower, at 10,085.40.
08:36:15 AM IST, 18 September 2017
Good morning, dear reader! Here’s something to kickstart your trading day
