Traders’ Diary: Better to stay in cash right now
After staging a remarkable recovery from the day’s low, Indian equities snapped a two-session losing run, with Sensex gaining 194 points and Nifty again rising above the 10,250-mark on Thursday. The session was marked by high volatility, as Sensex gyrated in a wide 435-point range.
1 New Update
07:51:41 PM IST, 14 December 2017
The frequent validation of the support zone of 10,180-10,200 reinforced the credibility of this support area. Going in to trade on Friday, some follow-through of short covering, which led to Thursday's recovery, might continue. Area of 10,330-10,360 need to be watched on the upper side
- Milan Vaishnav, Technical Analyst, Gemstone Equity Research and Advisory
07:23:45 PM IST, 14 December 2017
Nifty50 registered Hammer kind of formation on the charts, as bulls put up a moderately brave face, as they appear to have sensed an opportunity to buy around 10,150 levels ahead of the event. This kind of buying may be in anticipation of a favourable outcome for the market, which is nothing but a victory for the BJP
- Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in
07:04:58 PM IST, 14 December 2017
Overall the index has got stuck in a broader trading range of 10,033 to 10,409 and is now trading at the middle of the band. The NSE benchmark has to hold above 10,300-10,330 zones to witness an upmove towards fresh lifetime of 10,490 while on the downside supports are seen at 10094 then 10033 marks
- Chandan Taparia, Technical & Derivative Analyst, Motilal Oswal Securities
06:25:29 PM IST, 14 December 2017
On the daily chart, the index has formed a bullish candlestick pattern (Hammer Like formation), carrying long lower shadow indicating support at lower levels. On the weekly chart, the index is having major hurdle at 10320, which is its last six weeks down sloping trend line resistance. Any sustainable breakout above this will indicate further strength. Chart pattern indicates if Nifty manages to cross above 10,280 then it may scale up towards 10,320-10,350 while 10,200 is likely to act immediate support on the downside
- Rajesh Palviya, Head – Technical & Derivatives Analyst, Axis Securities
05:44:56 PM IST, 14 December 2017
Investors digested the Fed's decision to raise rates for the third time this year, encouraging hopes of a stable growth in the US. Both the benchmark Sensex and the Nifty finally closed the day with sharp gains. Barring the media index, all other sectoral indices on the NSE closed the day in the positive zone
- Karthikraj Lakshmanan, Senior Fund Manager – Equities, BNP Paribas Mutual Fund
04:31:19 PM IST, 14 December 2017
The decision of rate hike by the US Fed fell in line with the market expectation, and hence failed to generate much buzz in early trades. With the end of second phase of voting in Gujarat, exit polls will start pouring in and markets would react accordingly. Nifty has been hovering in a broader band of 10,050 and 10,350, and either side decisive break will trigger the next directional move. We suggest continuing with hedged approach and waiting for further clarity
- Jayant Manglik, President, Retail Distribution, Religare Securities
03:59:18 PM IST, 14 December 2017
Market opened slightly higher y, but intraday selling took the indices to their lowest point for the session by noon. This was followed by a rally, which led the markets to the highest point to close near a per cent higher for the session. All eyes are on Gujarat exit polls scheduled to be announced this evening. An upset for the BJP would drastically affect the market, whereas a BJP win which largely seems to be factored in the price might not change much. We would advocate staying in cash ahead of the impending volatility
- Nikhil Kamath, Co-Founder and Head of Trading, Zerodha
03:35:24 PM IST, 14 December 2017
CLOSING BELL
Sensex jumps 194 pts, Nifty back above 10,250; pharma stocks rally, TCS down 2%
02:53:55 PM IST, 14 December 2017
AUSTRALIA SHARES FALL, ENDING 5 DAYS OF GAINS; NZ AT RECORD HIGH
Australian shares fell on Thursday to break a five session run of gains, with financials and real estate stocks accounting for most of the losses. The S&P 500 ended slightly lower on Wednesday pressured by the financial sector after the Federal Reserve announced a widely expected interest rate hike but kept its rate outlook for coming years unchanged as it projected faster U.S. economic growth.
02:40:57 PM IST, 14 December 2017
FORGET BITCOIN! THIS CRYPTOCURRENCY SOARS 140% IN 3 DAYS
After remaining in a range of $0.15-$0.25 for the past six months, another cryptocurrency ripple spiked over 141 per cent in the past three trading sessions till December 13. The digital currency surged to $0.58 on December 14 from $0.24, according to the data available with coindesk.com.
01:34:08 PM IST, 14 December 2017
MOODY'S LARGELY STABLE ON INDIA'S CORPORATE SECTOR
Global Ratings firm Moody’s has assigned a stable outlook for most sectors in the non-finance sector except telecom sector which has been assigned a negative outlook. Its Indian arm IcraBSE 1.27 % has stable outlooks on the passenger vehicle, construction, cement, and textiles sectors, but a negative outlook on real estate.
01:16:29 PM IST, 14 December 2017
SHALBY TO LIST SHARES ON BOURSES TOMORROW
Multi-specialty hospital chain Shalby, which recently concluded its Rs 504 crore initial public offering, will list its shares on the exchanges tomorrow. The equity shares will be listed on the NSE as well as on the BSE. The IPO, which opened for subscription from December 5-7, was subscribed 2.8 times at a price band of Rs 245-248 per share.
01:02:09 PM IST, 14 December 2017
NIKKEI SLIPS, TELECOM SHARES SLUMP ON RAKUTEN MARKET ENTRY PLAN
Japan's Nikkei share average slipped on Thursday, as banks and insurer shares weakened in line with lower interest rates while telecommunications shares withered on news that online retailer Rakuten plans to enter the mobile carrier market. The Nikkei ended down 0.3 percent at 22,694.45. The broader Topix was 0.2 percent lower at 1,808.14.
12:54:47 PM IST, 14 December 2017
BOUGHT APPLE STOCK IN 1980? HELD IT? DON'T BRAG
If you had invested $990 in the Apple IPO, that stock would have been worth $394,000 in November 2017, dividends included.
12:13:15 PM IST, 14 December 2017
INFOSYS TO ANNOUNCE Q3 RESULTS ON JAN 12
IT major Infosys has said a meeting of its Board of Directors will be held on January 11 and 12, 2018 to consider the audited consolidated financial results of the company and its subsidiaries for the quarter and nine months ending December 31, 2017. The financial results would be finally approved by the Board of Directors on January 12, 2018.
12:05:20 PM IST, 14 December 2017
INDIA ASIA'S TIGER CUB, BUT CHINA TO SEE LONG-LASTING GROWTH SLOWDOWN
Asia’s sweet spot looks stretched and there's a rising risk of painful snapback, but among the region, India, Indonesia and the Philippines are the new rising stars. This is the observation of Nomura India in Asian markets outlook for 2018.
11:43:56 AM IST, 14 December 2017
GOLD, SILVER SURGE AFTER US FED OUTCOME
Gold and silver were trading higher in early trade on Thursday after the US Federal Reserve’s widely expected decision to raise interest rates. MCX Gold futures were trading 0.73 per cent, or Rs 205, up at Rs 28,400 per 10 gram at around 10.20 am (IST), while MCX Silver futures were trading 1.37 per cent, or Rs 508, up at Rs 37,475 per 1 kg.
11:15:34 AM IST, 14 December 2017
80% IN 2017! THIS STOCK IS ON FIRE ON PROFITABILITY & SECTOR OUTLOOK
Shares of the company have been doing exceptionally well for the past few years. The scrip surged 429 per cent to Rs 1,207.25 on December 8, 2017 from Rs 227.90 on December 11, 2013.
10:57:28 AM IST, 14 December 2017
HOW 2017 BECAME A BLOCKBUSTER YEAR OF IPOS
10:35:02 AM IST, 14 December 2017
MANPASAND BEVERAGES SOARs 7% AFTER RBI HIKES FPI INVESTMENT LIMIT
Shares of Manpasand Beverages climbed over 7 per cent after the Reserve Bank of India (RBI) allowed increase in FPI investment limit in the company to 49 per cent from 24 per cent earlier. The scrip was trading 7.61 per cent up at Rs 403.60 at around 10.10 am (IST).
10:17:33 AM IST, 14 December 2017
RUCHI SOYA SHARES TANK AS IDBI BANK DECLARES CO AS WILFUL DEFAULTER
Shares of Ruchi Soya tumbled as much as 16 per cent in early trade after it informed bourses that IDBI Bank has declared the company a wilful defaulter. The scrip was trading 14.89 per cent down at Rs 16 at around 9.35 am.
10:00:56 AM IST, 14 December 2017
PRATAAP SNACKS SURGES OVER 5% POST Q2 RESULTS
Shares of Prataap Snacks climbed over 5 per cent in early trade on Thursday after the company posted 150 per cent increase in net profit at Rs 13.70 crore for the quarter ended September 30, 2017. It had posted a net profit of Rs 5.48 crore in the corresponding quarter last year.
09:42:02 AM IST, 14 December 2017
US FED RAISES KEY INTEREST RATES: TOP 5 TAKEAWAYS
As widely expected, the US Federal Reserve on Wednesday hiked interest rates by a quarter of a percentage point for the third time this year. It has also projected a three more rate hikes in 2018. After a 25 basis point rate hike by the US Fed, the market will now closely watch the Gujarat election outcome in the near term.
09:17:51 AM IST, 14 December 2017
OPENING BELL
Sensex rises 100 points, Nifty reclaims 10,200; Tata Comm surges 6%, Ruchi Soya plunges 8%
09:15:33 AM IST, 14 December 2017
US FED HIKES INTEREST RATES
In line with expectations, the US Federal Reserve raised interest rates by 25 basis points on Wednesday. The 7-2 vote for the rate move, the Fed's third this year, raises the benchmark lending rate by a quarter percentage point to a target range of 1.25 per cent to 1.5 per cent. The Fed officials also raised their forecast for economic growth in 2018, even as they stuck with a projection for three hikes in the coming year.
09:03:32 AM IST, 14 December 2017
PRE-MARKET BRIEFING
Sensex gains 50 points, Nifty above 10,200; rupee opens at 64,33 against US dollar