Trader’s Diary: Nothing to cheer about on local front
Market
ended flat with a positive bias after a choppy session on Monday ahead of
June-September quarterly results. Sensex ended at 31,846.89, up 32 points and
Nifty ended at 9,987.70, up 8 points after testing the 10,000-mark in trade
1 New Update
07:59:40 PM IST, 09 October 2017
Traders may carry on with their long positions in the absence of any sell signals on lower time frame charts
- Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in
07:28:15 PM IST, 09 October 2017
Nifty has formed Doji candle carrying shadow on both sides indicating indecisiveness among the participants. Chart pattern suggest that if Nifty manages to cross above the 10,015 level it may scale up towards 10,040-10,070. While on breakdown below 9,960, it would initiate more profit booking which could drag towards 9,940-9,910 in near term
- Rajesh Palviya, Head – Technical & Derivatives Analyst, Axis Securities
06:56:09 PM IST, 09 October 2017
Market has retraced back to half the overall fall, which led to a low of 9,732. This could be trying times and we would continue to remain cautious until the indices close above 10,050. We would maintain a wait and watch approach at this juncture
- Nikhil Kamath, Co-Founder and Head of Trading, Zerodha
06:39:34 PM IST, 09 October 2017
The index has completed its 61.80 per cent retracement of the entire down leg from 10,178 to 9,687 and has been hovering near to the 9,990 level from the last two sessions. It has to continue to hold above 9,980-10,000 to extend its upmove towards 10,080. A hold below 9,950 could end its pull back to attract a profit booking
- Chandan Taparia, Technical & Derivative Analyst, Motilal Oswal Securities
06:20:44 PM IST, 09 October 2017
Market is facing resistance around 10k mark as participants are waiting on the sideline and awaiting earnings season for more clarity on direction. Earnings growth for the second quarter is likely to be subdued but on a QoQ basis it will be better. Sectors like Finance, Metals, Mining, Infra, Defence and Chemical are expecting some pick up which could limit a sharp cut in earnings forecast for FY18
- Vinod Nair, Head of Research, Geojit Financial Services
06:07:29 PM IST, 09 October 2017
I do not find any trading opportunity on Nifty at the current levels, because it has already corrected 61.80 per cent of its recent fall from 10,187 to 9,685. So if you take a long call here on the Nifty at the current levels and I think the risk will be higher than the reward so I would like to call on Nifty either on a breakout above 10,050-100,75 for a long side or below 9,900 for the short side
- Manas Jaiswal, Manas Jaiswal Technical Research Group
05:46:20 PM IST, 09 October 2017
The disappointment if it has to come, where valuations have really built up tremendously is going to be more in the financials, if the numbers are not delivered. From a sectoral prospective, we like oil and gas space and more so we like the city gas space within that. We like some of the infrastructure contracting companies. We like financials and pharma
- Nitin Raheja, Co-Founder, AQF Advisors
05:22:18 PM IST, 09 October 2017
Investors were reluctant to take more risk ahead of the earning season commencing shortly. RBI's 'Prompt Corrective Action' started against the PSU's for high bad loans, has flattened the surge in PSU bank stocks, which was witnessed over the last few sessions. Upcoming IIP numbers and inflation data will also have a crucial impact on the market especially with the weak growth forecasts and persisting GST hurdles
- Anand James, Chief Market Strategist, Geojit Financial Services
04:47:18 PM IST, 09 October 2017
Indian markets traded on a volatile, albeit positive note as global markets and certain macro-economic developments at home influenced investor sentiment. On the sectoral front, barring the PSU banking index, all other sectoral indices on the NSE traded with gains
- Karthikraj Lakshmanan, Senior Fund Manager – Equities, BNP Paribas MF
04:29:34 PM IST, 09 October 2017
Positive global cues are currently holding our markets when there's nothing to cheer about on local front. Now, the focus will shift to the upcoming earnings season and other factors will take a back seat. Though majority of the participants are not expecting any fireworks this time but there'll be no shortage of trading and investment opportunities. The idea is to follow stock specific approach while keeping strict risk management rules in place
- Jayant Manglik, President, Retail Distribution, Religare Securities
03:33:04 PM IST, 09 October 2017
CLOSING BELL: SENSEX, NIFTY END FLAT AFTER CHOPPY TRADE
BSE Sensex ended the day at 31,846.89, up 32 points or 0.10 per cent while Nifty50 ended at 9,987.70, up 8 points or 0.08 per cent after testing 10,000 mark in trade. BSE Midcap index ended 0.04 per cent or 6 points down at 15,834.13 with shares such as Adani Enterprises (down 3.20 per cent), Amara Raja Batteries (down 2.62 per cent), Reliance Communications (down 2.62 per cent), ABFRL (down 2.58 per cent) and Tata Communications (down 2.49 per cent) dragging the index.
03:31:20 PM IST, 09 October 2017
MODI'S RE-ELECTION BID MAY BE GIC IPO'S BIGGEST ATTRACTION
ICICI Lombard General Insurance Co. joined stock markets last month, while SBI Life Insurance Co. became a listed company last week. Just over a year ago, India didn't have a single publicly traded pure-play insurer. Now it has three, with a combined $24 billion in market value. That could increase by 50 percent this week if the IPO by General Insurance Corp, the largest reinsurer, lists at the top of an indicated price range at about $14 per share.
03:23:14 PM IST, 09 October 2017
RELIANCE GENERAL INSURANCE COMPANY FILES DRAFT PAPERS WITH SEBI
Reliance General Insurance Company on Monday said it has filed draft papers with the market regulator SEBI seeking permission for its Initial Public Offering (IPO). The offer would comprise of a fresh issue of up to 16,769,995 equity shares by Reliance General Insurance Company Limited and an offer for sale (OFS) by Reliance Capital of up to 50,309,984 equity shares.
03:03:06 PM IST, 09 October 2017
FUTURE RETAIL EXECUTES SPA FOR HYPERCITY RETAIL ACQUISITION
Future Retail today said it has executed share purchase agreement (SPA) with Shoppers Stop for its Rs 655-crore acquisition of Hypercity Retail in stock-and-cash deal.
02:56:55 PM IST, 09 October 2017
THIS MARKET STILL OFFERS VALUE FOR THE PICKY FUND MANAGERS
The domestic stock market continues to swing from end to end. The market is consolidating at its peaks, but remains steady. At one end, growth moderation has caused some concerns. But at the other end is the uptick in industrial production as marked by IIP.
02:51:40 PM IST, 09 October 2017
ONGC MAY SELL IOC STAKE TO LIC IN BLOCK DEAL
State-owned ONGC is likely to sell some of its stake in IOC to institutional investors like LIC to part-fund its over Rs 34,000 crore acquisition of refiner Hindustan Petroleum Corporation Ltd (HPCL).
02:20:22 PM IST, 09 October 2017
PSU BANK STOCKS FALL; OBC CRACKS 3%
Most of the PSU bank stocks such as Oriental Bank of Commerce (down 3.08 per cent), Bank of India (down 1.94 per cent), Andhra Bank (down 1.88 per cent), IDBI Bank (down 1.31 per cent) and Syndicate Bank (down 1 per cent) were losing in trade, dragging the Nifty PSU Bank index lower. The Nifty PSU Bank index was trading 0.67 per cent down at 3,081.
01:54:45 PM IST, 09 October 2017
NIFTY METAL INDEX TURNS VOLATILE; JINDAL STEEL UP 4%
Shares of Jindal Steel & Power (up 4.03 per cent), APL Apollo Tubes (up 2.10 per cent), Coal India (up 1.19 per cent) and Tata Steel (up 1.03 per cent) were the top gainers in the Nifty Metal index. However, MOIL (down 1.47 per cent), National Aluminium Company (down 1.47 per cent), JSW Steel (down 1.05 per cent), Vedanta (down 0.98 per cent) and NMDC (down 0.82 per cent) were losing in trade.
01:34:17 PM IST, 09 October 2017
SPARC STOCK TUMBLES 16% ON SPASTICITY STUDY RESULTS
Shares of Sun Pharma Advanced Research Company today slumped nearly 16 per cent after the company said its pivotal studies on treatment of spasticity in patients with multiple sclerosis did not meet the desired outcome.
01:30:33 PM IST, 09 October 2017
EUROPEAN SHARES EDGE HIGHER, DAX HITS NEW ALL-TIME HIGH
European shares opened slighly higher on Monday after four consecutive weeks of gains, with Germany's Dax touching a fresh new high, as worries about the situation in Catalonia eased off after Sunday's demonstration against independence.
01:20:38 PM IST, 09 October 2017
GIC RE TO LAUNCH INDIA’S 3RD BIGGEST IPO ON WEDNESDAY; HERE'S WHAT YOU MUST KNOW
General Insurance Corp of India (GIC Re) is all set to kick off its mega Rs 11,370 crore initial public offer on Wednesday. This would be India's third biggest IPO ever after Coal India's Rs 15,200 crore and Reliance Power's Rs 11,700 crore issues.
01:07:07 PM IST, 09 October 2017
MAS FINANCIAL IPO SUBSCRIBED 2.31 TIMES ON DAY 2
The issue had received bids for 1,64,93,568 shares against 71,24,910 shares offered by the company on the second day of bidding process till around 12.50 pm (IST). This translates into 2.31 times subscription.
01:03:26 PM IST, 09 October 2017
OPEC FINDS AN UNLIKELY SAVIOR AS ENEMIES BECOME FRIENDS
The visit by King Salman of Saudi Arabia to President Putin of Russia may not reflect a complete about-face by the desert kingdom, but it sends a very clear message that the US is no longer the only great power calling the shots in the Gulf.
12:39:53 PM IST, 09 October 2017
OVER 80 STOCKS HIT FRESH 52-WEEK HIGHS
Over 80 stocks, including TVS Electronics, Arrow Textiles, GNA Axles, HEG, Nandan Denim, Sree Rayalaseema, Marathon Nextgen, Aptech, MIRCBSE Electronic, Jindal Worldwide, Kamat Hotels, IG Petrochem and Wheels India hit their fresh 52-week highs on NSE in Monday's trade.
12:30:33 PM IST, 09 October 2017
UP TO 33,000% RETURN IN 10 YEARS! SMALLCAPS THAT MADE CROREPATIS
Not too many Indian stock investors know about Mayur Uniquoters, Apco Industries, AksharChem or Oriental Carbon. But you should! These are some of the smallcap stocks that have made investors crorepatis by offering up to 33,000% return over the past 10 years.
12:23:00 PM IST, 09 October 2017
BOND PARTY SET TO COOL IN INDIA AS INFLATION, FISCAL RISKS LOOM
The bull run in Indian sovereign bonds is petering out as accelerating inflation and the risk of worsening public finances cloud the outlook for Asia’s highest-yielding securities.
12:15:30 PM IST, 09 October 2017
Post first filing of returns, the GST related slowdown seems to be tapering off
- VD Mhaiskar, CMD, IRB Infrastructure
12:09:16 PM IST, 09 October 2017
NEARLY 30 STOCKS HIT FRESH 52-WEEK LOWS TODAY
Nearly 30 stocks, including Tata Teleservices (Maharashtra), Steel Exchange, SAB Events & Governance Now Media, TV Vision, Sri Adhikari, Adhunik Industries, Piramal Phytocare, Nagarjuna Oil, Amara Raja Batteries, Tera Software and Moser Baer touched their new 52-week lows on NSE in Monday's trade, defying the positive market sentiments.
11:57:22 AM IST, 09 October 2017
CHINA SHARES HIT 21-MONTH TOP; TURKISH LIRA TAKES A DIVE
Chinese shares climbed on Monday after a week-long break as a disappointing survey on the country's service sector did little to dent optimism on global growth, while political uncertainty caused turbulence for the Turkish and British currencies.
11:44:27 AM IST, 09 October 2017
JSPL CLIMBS 5% ON REPORTS OF OXYGEN PLANT SALE FOR RS 1,121 CRORE
Shares of Jindal Steel and Power climbed over 5 per cent in Monday’s trade on reports that the company has sold its oxygen plant assets at Raigarh, Angul for Rs 1,121 crore.
11:34:50 AM IST, 09 October 2017
SOBHA SURGES 9%; CLSA MAINTAINS ‘BUY’ RATING
Shares of Sobha Limited advanced nearly 9 per cent in early trade after CLSA has maintained buy rating on real estate firm as the company's second quarter pre-sales rose 14 per cent year-on-year to a ten-quarter high. The global brokerage house said it sees Sobha's pre-sales to do well for the next few quarters.
11:29:58 AM IST, 09 October 2017
15 MONEY-MAKING IDEAS THAT CAN GIVE BIG RETURNS IN LESS THAN 21 DAYS
Based on various brokerage recommendations, 15 stock including United Breweries, HCL Technologies can potentially deliver solid gains over the next 14-21 sessions.
10:53:48 AM IST, 09 October 2017
FINOLEX INDS JUMPS 3% AS FIRM TARGETS $1 BILLION IN REVENUE BY 2020
Shares of Finolex Industries advanced over 3 per cent in Monday's trade after the firm set $1 billion revenue target by 2020. The firm also sees doubling of its capacity by then.
10:44:06 AM IST, 09 October 2017
ICICI BANK, TATA STEEL MOST ACTIVE STOCKS IN TERMS OF VALUE
Shares of ICICI Bank (Rs 97.03 crore), Tata Steel (Rs 76.47 crore) and Sun Pharma (Rs 65.14 crore) were trading as the most active stocks in terms of value on NSE in Monday's early trade. Reliance Industries (Rs 56.53 crore), Titan Company (Rs 55.22 crore), Tata Motors (Rs 37.73 crore), Bajaj Finance (Rs 27.18 crore), Maruti Suzuki (Rs 26.90 crore), Aurobindo Pharm (Rs 26.23 crore), Infosys (Rs 25.62 crore), Vedanta (Rs 25.31 crore) and State Bank of India (Rs 24.79 crore) were the other major stocks in the league, in that order.
10:21:13 AM IST, 09 October 2017
TATA TELE CRACKS 15% AS CO LOOKS TO SURRENDER, SELL EXISTING SPECTRUM
Shares of Tata Teleservices (TTSL) tumbled 15 per cent after its management and representatives from the promoter group met Department of Telecommunications (DoT) officials and discussed ways of surrendering or selling their existing spectrum holdings.
10:01:40 AM IST, 09 October 2017
IEX IPO KICKS OFF; SHOULD YOU SUBSCRIBE OR GIVE A MISS?
The Rs 1,001 crore initial public offering (IPO) by India's leading power trading platform Indian Energy Exchange (IEX) opened for bidding on Monday. Analysts are positive on the company's prospects. They believe that the government initiatives like rural electrification, Power for All, UDAY are likely to drive short-term power market volumes, which could result in an expected share of 21.1 per cent by FY22.
09:48:22 AM IST, 09 October 2017
ETMARKETS MORNING PODCAST: TUNE IN NOW
09:40:55 AM IST, 09 October 2017
NIFTY RECLAIMS 10K
09:20:32 AM IST, 09 October 2017
OPENING BELL: SENSEX, NIFTY OFF TO A FLAT START
Supreme Ind, Titan, Crisil surge 4% each; Airtel slips 1%.
09:03:54 AM IST, 09 October 2017
PRE-OPEN SESSION: NIFTY HITS 10K
Sensex above 31,900; Nifty touches 10,000; Rupee trades at 65.40 against dollar.
08:38:20 AM IST, 09 October 2017
SIGNAL FROM SINGAPORE
Nifty futures trading on SGX were down 44 points, or 0.44 per cent, at 9,976, indicating a negative start for NSE Nifty index.
08:36:10 AM IST, 09 October 2017
NIFTY TECHNICAL CHARTS
Nifty50 on Friday made a Strong Bull candle and broke multiple moving averages, suggesting the bulls are back in the driver's seat. During the session the index breached 12-day, 20-day and 50-day exponential moving averages(EMAs) and made higher highs and higher lows formation for the fifth straight session, suggesting supports have been shifting higher.
08:35:35 AM IST, 09 October 2017
IEX RAISES Rs 300 CR FROM ANCHOR INVESTORS
The power exchange on Saturday raised about Rs300.22 crore by alloting 18,19,501 sharares to 23 anchor investors at a price of Rs1,650 per share. The list included ICICI Prudential MF Birla Sunlife MF, Birla Sunlife Trustee Company and SBI Mutal Fund (MF).
08:34:05 AM IST, 09 October 2017
IEX IPO TO KICK OFF TODAY
Indian Energy Exchange plans to raise Rs 1,001 crore through its initial share sale offering. It has fixed a price band of Rs 1,645- 1,650 per share for its public issue. The issue by which the company is selling 60,65,009 shares or 20 per cent of the post-issue paid-up capital will be open for subscription during October 9-11.
08:33:45 AM IST, 09 October 2017
FPIs SHUN DOMESTIC EQUITIES
Indian markets have underperformed the MSCI EM index by 7% since January 2017. The index is used as a benchmark by global fund managers to evaluate their performance in emerging markets (EMs). In addition, Indian equities were overweight 33% in the emerging markets index in January.This has now fallen to 23%. FPIs had invested close to $ 8.8 billion in Indian equities in the seven months to July. In the past two months, they have sold equities worth $3.7 billion.
08:32:57 AM IST, 09 October 2017
TATA TELE TO SURRENDER SPECTRUM
The Tata Group informed the government on Friday that it plans to shut its wireless business, bringing an end to its 21-year-old phone services venture. Tata group chief financial officer Saurabh Agrawal and Tata Teleservices managing director N Srinath were among executives who met DoT officials and discussed ways of surrendering or selling their existing spectrum holdings. Tata Teleservices is the telecom unit of the Tata Group.
08:31:18 AM IST, 09 October 2017
US PREZ TRUMP WARNS KOREA
"Presidents and their administrations have been talking to North Korea for 25 years, agreements made and massive amounts of money paid. Hasn't worked, agreements violated before the ink was dry, makings fools of U.S. negotiators. Sorry, but only one thing will work,(SIC)," US President Donald tweeted on Sunday morning IST.
08:30:48 AM IST, 09 October 2017
KOREA TO TEST ANOTHER MISSILE?
With North Korea gearing up to mark a major anniversary this week, reports suggest that the communist regime might celebrate the occasion with another missile test that may flare up geopolitical tensions again.
08:30:12 AM IST, 09 October 2017
US EMPLOYMENT DOWN FOR 1ST TIME IN 7 YEARS
US employment fell in September for the first time in seven years as Hurricanes Harvey and Irma left displaced workers temporarily unemployed and delayed hiring, the latest indication that the storms undercut economic activity in the third quarter, Reuters reported.
08:29:38 AM IST, 09 October 2017
US STOCKS END LOWER ON FRIDAY
The Dow Jones Industrial Average on Friday fell 1.72 points, or 0.01 per cent, to close at 22,773.67. The S&P500 declined 2.74 points, or 0.11 per cent, to 2,549.33. The Nasdaq Composite index added 4.82 points, or 0.07 per cent, to 6,590.18.
08:29:15 AM IST, 09 October 2017
SENSEX ON FRIDAY
The 30-share BSE Sensex gained 222.19 points to close on 31,814.22 and the 50-share NSE Nifty finished on 9,979.70, up by 91 points. Both the indices gained almost a per cent.
08:27:15 AM IST, 09 October 2017
Good morning, dear reader! Here’s something to kickstart your trading day
