Trader's Diary: Go for wait and watch approach at this point

FIIs net sell Rs 81.51 cr and DIIs net buy Rs 307.84 cr in equities today (provisional)

Nifty- 10185 (+38)
Sensex- 32507 (+117)
Gold- 29436 (-118)
Silver- 39735 (-142)
Crude Oil- 3383 (+11)
Nymex Crude- $ 51.86
$/₹- 65.02

Most Gainers- SUNTECK, KPRMILL, KOLTEPATIL, GNFC
Most Losers- APLAPOLLO, CERA, JBFIND, HSIL
Most Active- BHARTIARTL, RELIANCE, AXISBANK, ICICIBANK

Advances- 1224
Declines- 1416
Unchanged- 109

Sensex climbs 117 pts, Nifty ends a tad below 10,200; Bharti Airtel, RIL rally up to 5%.

European shares opened sideways on Monday, with Madrid's bourse underperforming its peers for another session as the ongoing crisis in Catalonia continued to take its toll. The pan-European STOXX 600 was up 0.1 per cent while Spain's benchmark IBEX fell 0.5 per cent.

The stock was down 0.8 per cent after the consumer electrical goods maker reported a standalone net profit of Rs 171.02 crore for the quarter ended on September 30. The company had posted a net profit of Rs 145.79 crore during the same period previous fiscal, Havells India said in a regulatory filing.

Hindustan Zinc on Monday reported a 34 per cent year-on-year rise in net profit at Rs 2,545 crore for the September quarter. The number included one-time gains of Rs 291 crore due to reversal of royalty due to write back of excess of District Mineral Foundation liability for the period between January 2015 and September 2015, following the judicial pronouncement during the quarter.

While the Big Bull has made big bucks this year – two-third of his portfolio stocks beat Sensex returns, half of them generated over 50 per cent return and seven soared anywhere between 100 per cent and 300 per cent – he kept tinkering with his billion-dollar portfolio every now and then.

Shares of Reliance Industries jumped over 2 per cent in Monday's trade. The company was the verge of becoming the first ever company on BSE to have a m-cap of Rs 6,00,000 crore or above.

The stock gained after GMR Hyderabad International Airport, a step down subsidiary of GMR Infrastructure, announced raising $350 million, or about Rs 2,276 crore, in the international bond market, reflecting the third consecutive US dollar bond offering by GMR Group.

Goa Carbon was locked in 5% lower circuit at Rs 767 on BSE on profit booking after gaining 27.6% in the preceding five trading sessions to settle at Rs 807.35 on October 19, from its close of Rs 632.70 on October 12. Goa Carbon is engaged in the business of manufacturing and marketing of calcined petroleum coke.

Source: Motilal Oswal Securities

Shares of BHEL were trading 1 per cent higher after the company said that the execution of 4000 MW Yadadri Supercritical Thermal Power Project has commenced with the issuance of revised letter of Intent by Telangana State Power Generation Corporation. The order valued at Rs 20,400 crore comprising of five 800 MW super critical sets, is not only the single largest order for BHEL but also the highest value order ever placed in the power sector in India.

Shares of Indian Energy Exchange were trading at Rs 1627.80, a discount of 1.35% over the initial public offer price of Rs 1,650. The stock debuted at Rs 1,500, a discount of 9.09% to the initial public offer (IPO) price. So far the stock hit a high of Rs 1,649 and low of Rs 1,500. On BSE, so far 2.85 lakh shares were traded on the counter.

Reliance Communications (up 7.90%), Idea Cellular (up 7.30%), Tata Teleservices (Maharashtra) (up 4.86%), Bharti Airtel (up 3.17%) and MTNL (up 2.01%), edged higher. Reliance Industries (RIL)'s telecom arm, Jio, raised tariffs last week, signalling more pricing discipline in the sector.

Shares of Bhushan Steel surged over 18 per cent in Monday's trade after ArcelorMittal, the world's largest steel company, joined the bidding race for stressed steel assets in the country by expressing interest to acquire Bhushan Steel. Following the development, the stock advanced 18.38 per cent to Rs 68.90 on BSE. It opened at Rs 65 and touched an intraday high and low of Rs 69.80 and Rs 64.05 respectively, in the first hour of trade.

Shares of UltraTech Cement gained over 2 per cent in Monday's trade after global brokerage firm CLSA upgraded the company's rating to buy from outperform with Rs 4,900 target price following strong Q2 results.

Following the development, the stock gained 2.39 per cent to Rs 4,120 on BSE. It opened at Rs 4,030 and touched an intraday high and low of Rs 4,127.35 and Rs 4,030.30 respectively, in the first hour of trade.

Indian Energy Exchange (IEX) made a tepid debut on BSE on Monday, as the scrip got listed at Rs 1,500, a 9.09 per cent discount to its issue price of Rs 1,650. The stock has been admitted to the &lsquo;B&rsquo; group of securities on the exchange. At the issue price of Rs 1,650, the stock was valued at 43.5 times FY17 EPS.<br /> <br />

The rupee on Monday opened 6 paise down at 65.10 against the US dollar on account of buying of American currency by banks and importers. The local currency settled 2 paise down at 65.04 against dollar last week on Wednesday.

Shares of Reliance Industries scaled fresh all-time high of Rs 929.95 in early trade on Monday after the company’s telecom arm Reliance Jio last week raised effective rates of some popular plans.

Sensex rises over 50 points, Nifty50 above 10,150; India VIX spikes 7%; Sobha, MRPL up 3% each.

Sensex, Nifty flat; Rupee trades at 65.10 against US dollar.

Early Monday, MSCI's broadest index of Asia-Pacific shares outside Japan was a whisker firmer while South Korea put on 0.3 per cent.Japanese shares jumped on a weaker yen on Monday as an election win for Shinzo Abe's ruling bloc gave a green light for more super-easy policy stimulus.

Prime Minister Shinzo Abe&rsquo;s ruling party scored a big win in Sunday&rsquo;s election with his coalition keeping its two-thirds &ldquo;super majority&rdquo; in the lower house, local media said.

Nifty futures trading on SGX were trading 19.50 points, or 0.19 per cent, higher at 10,187, indicating a positive start for NSE Nifty index.

Technical charts are already suggesting that investors are increasingly becoming indecisive at higher levels. The 10,250 level on Nifty50 is crucial, said Vaishali Parekh, Head-Technical Desk at Prabhudas Lilladher. A sustainable breach above this level could lift the index towards the 10,350 level.

The minutes of the recent Monetary Policy Committee (MPC) meeting of the Reserve Bank India suggest there is little chance of a rate cut in the near term, as inflation is expected to inch upwards, says a report. According to a Kotak Economic Research report, besides inflationary pressures, fiscal slippage concerns and possible volatility in global markets worried some MPC members.


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Shares of Indian Energy Exchange (IEX) will list on BSE on Monday. The issue, which was sold between October 9 and October 11, had been subscribed 2.28 times. The company, which sold its shares in the Rs 1,645- 1,650 price range had to cut the anchor investor allocation to 7,89,120 shares from 18,19,501 announced earlier.

ArcelorMittal, the world's largest steel company, has joined the bidding race for stressed steel assets in the country by expressing interest to acquire Bhushan Steel. Top banking sources told ET that LN Mittal-led ArcelorMittal has submitted expression of interest (EoI) for Bhushan Steel, which has been referred to National Company Law Tribunal (NCLT) under Insolvency and Bankruptcy Code.


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President Donald Trump is considering nominating Federal Reserve Governor Jerome Powell and Stanford University economist John Taylor for the central bank's top two jobs, in an apparent bid to reassure markets and appease conservatives hungry for change. Under that scenario, either Powell or Taylor would take the reins from Fed Chair Janet Yellen when her term expires in early February, Reuters reported.

Federal Reserve Chair Janet Yellen defended the central bank’s use of unconventional and often unpopular monetary policy tools after the Great Recession, highlighting some of her achievements at the helm as President Donald Trump weighs her reappointment, Bloomberg reported.

US stocks hit record closing highs on Friday after the US Senate passed a budget resolution, lifting hopes that President Donald Trump’s tax-cut plan may move forward, Reuters reported. The Dow Jones Industrial Average index rose 165.59 points, or 0.71 per cent, to end at 23,328.63. The S&P500 index gained 13.11 points, or 0.51 per cent, to 2,575.21 and the Nasdaq Composite index added 23.99 points, or 0.36 percent, to 6,629.05.

Indian equities began Samvat 2074 (Thursday) on a sombre note, registering their steepest Diwali evening fall in a decade. Broader market benchmarks on BSE and the competing NSE lost 0.6 per cent each in the truncated, hour-long trading session that marked the new year on the traditional calendar.