Trader’s Diary: Limit positions and wait for some stability
Indian stocks on Monday declined for a fifth straight session that dragged the Nifty50 index to a three-week amid brisk selling across sectors, as investors booked profit anticipating near-term pain.
1 New Update
07:56:16 PM IST, 25 September 2017
ETMarkets Evening Podcast: Will the bears continue to rule on Dalal Street
07:18:22 PM IST, 25 September 2017
RUPEE CRASHES TO 6-MONTH ON PANIC DOLLAR BUYING
The rupee today suffered a yet another blow to plunge by a whopping 31 paise at a fresh six- month low of 65.10 a dollar after heavy buying of the US currency and concerns on the macro-economic front. This was the weakest closing for the home currency since March 24, when it had ended at 65.41 against the greenback.
06:58:30 PM IST, 25 September 2017
TOP LOSERS AND GAINERS OF MONDAY'S SESSION
Key equity benchmarks suffered heavy losses on Monday, with Sensex dropping 448 points intraday and Nifty touching 9,816-mark, tracking Asian peers. Sustained selling across sectors and heavy capital outflow kept bourses on the tenterhooks.
06:26:29 PM IST, 25 September 2017
Weak Asian markets triggered negative start which further worsened with selling pressure across the board. However, rebound in last one and half hour trimmed some intraday loss. Amid all, market breadth failed to see any major improvement and ended on negative note. Indications are pointing toward further decline and any bounce may attract selling pressure. Volatility will remain high due to the upcoming derivatives expiry and erratic swings on global front. Thus traders should limit their positions and wait for some stability
- Jayant Manglik, President, Retail Distribution, Religare Securities
06:19:07 PM IST, 25 September 2017
AFTER HOURS: INFIBEAM SLIPS 18%; 50 STOCKS HIT FRESH 52-WEEK LOWS
Equity benchmarks Sensex and Nifty extended their losses for a fifth straight session on Monday, amid geopolitical tensions, outflow of foreign institutional investments (FIIs) and profit booking. Market participants remained cautious about the government’s plan to unveil a stimulus programme may expand fiscal deficit.
05:54:51 PM IST, 25 September 2017
NIFTY FORMS BEARISH CANDLE; WEAKNESS MAY PERSIST
The NSE Nifty index slipped for the fifth straight session and breached the psychologically important 9,900 level in Monday’s trade. It formed a bearish candle on the daily chart followed by a ‘Bearish Engulfing Pattern’ on the weekly chart. The index ended the day 91.80 points, 0.92 per cent, down at 9,872.
05:14:27 PM IST, 25 September 2017
The markets have shown some volatility in last few days led by geopolitical developments over North Korean actions. This development became an excuse for market to take a breather as it was almost moving one way up and had reached fresh life highs. Given the ample liquidity in Indian market, we might see stability returning soon and it is not likely to be a long lasting correction. The fresh trigger will be September quarter results
- Kunj Bansal - Executive Director & CIO – Equity , Centrum Wealth Management
05:00:39 PM IST, 25 September 2017
Stock markets in India opened the day on a positive note but subsequently succumbed to selling pressure tracking weak Asian markets. Weak opening in Europe served to further restrict market gains and kept them languishing in negative territory. Both the benchmark Sensex and the Nifty finally closed the day with losses of over 0.5%. Stocks in Europe and Asia dropped as investors digested election results in Germany and New Zealand
- Karthikraj Lakshmanan, Senior Fund Manager – Equities, BNP Paribas MF
04:59:55 PM IST, 25 September 2017
F&O: BEARS TIGHTEN GRIP ON THE MARKET; CALL OI SHIFTS TO 10,000
The Nifty index continued to face selling pressure for the fifth consecutive session on Monday and corrected towards the 9,820 mark. It has been making lower tops and lower bottoms from last four sessions and broke its trend line support by connecting the swing lows of 9,075, 9,448, 9,685 and 9,900 levels.
04:30:03 PM IST, 25 September 2017
Weak Asian markets over North Korean jitters lent momentum to Indian stocks’ falls earlier in the day, after 20 month highs had attracted persistent selling from FIIs almost all through this month. Second half found some buying though, as markets had an eye on government stimulus plans expected later in the day. Limited respite is however expected though, central bank announcements should hold sway over markets as evident from Rupee’s slippage past 65
- Anand James, Chief Market Strategist, Geojit Financial Services
04:08:41 PM IST, 25 September 2017
Outflow of foreign funds due to the concern on gap between high valuation and earnings growth and Fed’s stance on trimming their balance sheet impacted sentiment. Investors are also looking forward to the announcement of stimulus package by PM Narendra Modi later today, while at the same time, concern on fiscal slippage influenced profit booking
- Vinod Nair, Head of Research, Geojit Financial Services
03:32:57 PM IST, 25 September 2017
CLOSING BELL: SENSEX ENDS 296 PTS LOWER
Nifty below 9,900; Adani Ports down 3%, ITC 2%; Coal India up 1%.
03:20:34 PM IST, 25 September 2017
THIS HEDGE FUND NOT SCARED BY STOCK ROUT
The top-performing hedge fund focused on India isn’t scared by equity valuations that are the most expensive in 10 years and predicts Asia’s third-largest economy will have seven good years in the next decade. Rahul Khanna, chief investment officer at Habrok Capital Management LLP, said his fund is betting on the long-term potential of the economy, which will begin to benefit next year from the government’s crackdown on black money and a nationwide sales tax.
03:02:20 PM IST, 25 September 2017
SMALLCAP AND MIDCAP STOCKS BEAR THE BRUNT IN MARKET SELLOFF
The S&P BSE Smallcap Index dropped as much as 3.5 percent and the mid-cap gauge 2.7 percent, versus the Sensex’s 1.2 percent decline. They had outperformed the benchmark’s 20 percent gain this year by 15 percent and 10 percent respectively through Friday, leading Chokkalingam G, the managing director and founder of Mumbai-based Equinomics Research & Advisory Pvt. to warn of a “bubble building up.”
02:30:39 PM IST, 25 September 2017
PRATAAP SNACKS IPO SUBSCRIBED FULLY ON DAY 2
The initial share sale of Prataap Snacks got fully subscribed at 1.05 times on the second day of the three-day bidding process on Monday. The IPO received bids for 38,19,510 shares against 36,27,518 shares on offer. QIBs and retail quotas were subscribed 1.62 times and 1.22 times, respectively.
02:18:28 PM IST, 25 September 2017
ONGC TO ACQUIRE HPCL THIS YEAR; SHARES DOWN
State-owned oil explorer Oil and Natural Gas Corporation (ONGC) is likely to acquire Hindustan Petroleum Corporation (HPCL) in a bulk or block deal in November or December, according to media reports.
01:57:37 PM IST, 25 September 2017
SENSEX PLUNGES 400 POINTS; INDIA VIX SURGES 5%
01:14:26 PM IST, 25 September 2017
IS IT THE 'PERFECT STORM' FOR INDIAN STOCK MARKET?
In two days, Indian equity benchmark Sensex has tumbled over 750 points, raising fears that we could be facing the Perfect Storm. Or is it something else? Let’s have a look at what is causing this disruption.
12:51:12 PM IST, 25 September 2017
PRATAAP SNACKS IPO SUBSCRIBED 70% SO FAR; SHOULD YOU BUY?
Initial public offerings (IPO) of Prataap Snacks was subscribed 70 per cent on the second day of the three-day bidding on Monday. The initial share sale, which aims to garner Rs 482 crore, received bids for 25,53,975 shares against the total issue size of 36,27,518 shares, as per data available with stock exchanges.
12:24:23 PM IST, 25 September 2017
THIS RAMESH DAMANI-OWNED SMALLCAP SURGED OVER 50% IN 9 SESSIONS
Shares of TV Today Network advanced for ninth consecutive trading session to its fresh 52-week high of Rs 415.05 on Monday. The scrip has surged over 50 per cent during September 12 and September 25.
12:02:00 PM IST, 25 September 2017
METAL STOCKS CRACK; JSW STEEL MELTS 6%
Steep fall in the share prices of JSW Steel (down 6.07 per cent), Nalco (down 5.52 per cent), Jindal Steel (down 5.08 per cent), APL Apollo Tubes (down 4.09 per cent) and Tata Steel (down 4.05 per cent) dragged Nifty Metal index over 3 per cent lower to 3,366-level.
11:35:14 AM IST, 25 September 2017
LIC PUMPS IN RS 29,000 CRORE IN EQUITIES SO FAR IN FY18: SOURCES
Life Insurance Corporation of India (LIC), country’s largest institutional investor, has pumped in Rs 29,000 crore in equity markets in the ongoing financial year so far, according to a report by ET Now. Investments of LIC in equities to be around Rs 50,000 crore in FY18, according to sources.
11:08:34 AM IST, 25 September 2017
HERE ARE THE TOP FACTORS DRAGGING THE MARKET
During the week ended September 22, Sensex shed 350 points to close at 31,922. Likewise, Nifty index shed 121 points to end the week at 9,964 from 10,085 on September 15. Going by the buzz in Dalal Street, here are top five factors putting pressure on market sentiment.
10:51:13 AM IST, 25 September 2017
OVER 40 STOCKS HIT FRESH 52-WEEK LOWS
Over 40 stocks, including Adhunik Industries, Sri Adhikari, Piramal Phytocare, Dishman Carbogen Amcis, Dixon Technologies (India), Sintex Plastics Technology, Cupid, Signet Industries, SML Isuzu, Shilpi Cable Technologies, Nitin Spinners and Kitex Garments touched their fresh 52-week lows on NSE in Monday's trade.
10:38:39 AM IST, 25 September 2017
COFFEE DAY ENTERPRISES SLIPS 10% ON I-T RAIDS
Shares of Coffee Day Enterprises tumbled 10 per cent intraday after reports that the Income Tax Department raids on Cafe Coffee Day (CCD) retail chain since Thursday found Rs 650 crore concealed income from the documents seized.
10:18:26 AM IST, 25 September 2017
SENSEX TANKS 300 POINTS
10:08:19 AM IST, 25 September 2017
CAPACIT'E INFRAPROJECTS LISTS 60% PREMIUM TO ISSUE PRICE
Mumbai-based construction firm Capacit'e Infraprojects made a smart debut on the bourses on Monday as the shares got listed at Rs 399 apiece, a premium of 59.60 per cent to the issue price. The company, which concluded its initial share sale over the past fortnight, had fixed the issue price at Rs 250, the upper end of the IPO prices band at Rs 245-250 per share.
09:42:21 AM IST, 25 September 2017
SHOPPERS STOP TO SELL 5% STAKE TO AMAZON UNIT; SHARES SURGE 20%
Shares of Shoppers Stop advanced as much as 19.99 per cent in early trade on Monday after the company on Saturday informed bourses that its board has approved a proposal to sell 5 per cent equity in the company for Rs 179.25 crore to Amazon NV Holdings LLC, the investment arm of the world’s largest online retailer Amazon Inc.
09:21:58 AM IST, 25 September 2017
PODCAST: WHAT'S BUZZING ON D-STREET THIS MORNING
Tune in now! Your daily digest of market news, views and cues.
09:19:24 AM IST, 25 September 2017
OPENING BELL: SENSEX SLIPS OVER 100 PTS
Nifty below 9,950; HDFC, RIL down 1% each; Shoppers Stop rallies 16%.
09:04:04 AM IST, 25 September 2017
PRE-OPEN SESSION: SENSEX GAINS 100 POINTS
Nifty50 above 10,050; Rupee trades at 64.79 against US dollar.
08:34:23 AM IST, 25 September 2017
SIGNAL FROM SINGAPORE
Nifty futures on the Singapore Stock Exchange traded slightly higher at 9,993, up 10 points, early this morning, signalling a possible easing of selling pressure in the domestic market.
08:34:13 AM IST, 25 September 2017
ASIAN MARKETS
Asian stocks looked up this morning from last week's selloff. MSCI's broadest index of Asia-Pacific shares outside Japan traded 0.2 per cent higher, Reuters reported. Japan's Nikkei rose 0.6 per cent and Australian shares climbed 0.4 per cent while South Korea's KOSPI was flat.
08:34:05 AM IST, 25 September 2017
US STOCKS ON FRIDAY
The S&P500 closed slightly higher even though Apple was a drag. The Dow Jones Industrial Average fell 9.64 points, or 0.04 percent, to 22,349; the S&P500 gained 1.62 points, or 0.06 per cent, to 2,502 and the Nasdaq Composite added 4.23 points, or 0.07 per cent, to 6,426.
08:33:55 AM IST, 25 September 2017
NIFTY TECHNICALS WEAK
The Nifty50 rests below its 20-DMA, taking support at its 50-DMA at 9,954. The index has to stay above this 50-DMA level, failing which more weakness may creep in.
08:33:41 AM IST, 25 September 2017
CRUDE OIL HOLDS GAINS
Oil prices stood little changed on Monday, keeping most of their gains from the previous session to hold near their highest levels in months. Brent crude for November delivery was up 1 cent at $56.87 a barrel thus morning, having settled 0.8 per cent higher on Friday. US crude for November delivery was down 4 cents at $50.62, having risen 0.2 percent on Friday.
08:33:30 AM IST, 25 September 2017
FII SELLOFF BIGGEST IN EMs
FIIs have sold Indian stocks worth $2.66 billion between August 1 and the third week of September, making it the biggest pullout of any major emerging market. The outflows exceeded those from major emerging markets such as South Korea, Taiwan, Indonesia and South Africa, according to Bloomberg and ETIG data.
08:33:19 AM IST, 25 September 2017
RUPEE ON WEAK WICKET
The rupee on Friday dropped by 31 paise to a four-month low level of 65.12 against the US dollar on frenetic dollar demand from importers and banks. Dealers said early losses in domestic equity markets and unabated foreign fund outflows weighed on the rupee.
08:32:26 AM IST, 25 September 2017
GOOD MORNING, DEAR READER!
