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Friday, August 31, 2018

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Closing Bell (31 Aug 2018)

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Indian rupee at fresh record low, breaches 71 for the first time

Rupee opened at a fresh record low of 70.95 per dollar versus previous close 70.74

The Indian rupee breached the 71 mark for the first time in the morning trade Friday. It has opened at a fresh record low of 70.95 per dollar versus previous close 70.74.

Yesterday the rupee ended at fresh life time low of 70.74 the dollar due to month-end demand for the US currency from importers and rising crude oil prices.

However, during the day the rupee slipped to a record low of 70.90 to a dollar.

VK Sharma, Head Private Client Group & Capital Market Strategy at HDFC Securities said, “Indian Rupee has depreciated around 11% year to date. Higher crude oil prices, demand from defense and oil marketing firms have contributed to the latest bout of weakness."

Rupee was overvalued on trade weighted real effective exchange rate. We are not overly concerned about the rupee beyond 72 level. Robust FDI flows in e-commerce companies, healthy forex reserves may limit the downside of the rupee,” he added.

On Thursday, rupee fell to fresh record low levels of 70.80 in the intraday session. The currency in the last few sessions has come under pressure following dollar demand by oil marketing companies and defence related buying. Apart from domestic dollar demand, weakness in Asian currencies also weighed on the rupee, said Motilal Oswal.

Yesterday, Turkish Lira fell by over 5% as resignation of the deputy central bank governor intensified market concerns over the direction of monetary policy. On the other hand, Argentina Peso fell after its central bank raised rates to 60% as it struggles to repay heavy government borrowing.

For the day, rupee is expected to quote in the range of 71 and 71.50 (Sept), it added.

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Source: https://www.moneycontrol.com/news/business/markets/indian-rupee-at-fresh-record-low-breaches-71-for-the-first-time-2901061.html

INTERNATIONAL MARKET UPDATE (31 AUG 2018)

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MCX SUPPORT & RESISTANCE (31 AUG 2018)

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NCDEX SUPPORT & RESISTANCE LEVEL (31 AUG 2018)

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Thursday, August 30, 2018

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MCX SUPPORT & RESISTANCE LEVEL (30 AUG 2018)

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INTERNATIONAL MARKET UPDATES (30 AUG 2018)

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Opening Bell (30 Aug 2018)

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Nifty FMCG outperforms led by United Spirits; ITC hits new 52-week high, PSU banks drag

The breadth of the market favoured advances, with 831 stocks advancing, 773 declining and 462 remaining unchanged. On BSE, 1104 stocks advanced, 873 declined and 98 remained unchanged.

The India benchmark indices are trading in the red this Thursday morning with the Nifty50 down 28 points at 11,664 while the Sensex is down 74 points at 38,648.

Nifty Energy is down close to a percent dragged by HPCL, India Oil Corporation and Reliance Industries which are down 1 percent each.

The PSU bank index shed 1 percent with loses from Bank of Baroda, Bank of India, Union Bank of India, State Bank of India and Punjab National Bank.

Individual private banks are also weak dragged by Axis Bank, IndusInd Bank, YES Bank and Kotak Mahindra Bank.

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Source: https://www.moneycontrol.com/news/business/markets/d-street-buzz-nifty-fmcg-outperforms-led-by-united-spirits-itc-hits-new-52-week-high-psu-banks-drag-2896881.html

Indian rupee hits fresh record low of 70.82 per dollar; down 10% this year

The rupee has fallen by 10 percent this year so far - making it the worst-performing currency in Asia.

After a marginal gap down opening the Indian rupee touched a record low of 70.82 per dollar during intraday on Thursday.

It has opened marginally lower at 70.63 per dollar versus previous close 70.59.

Vivek Rajpal, Asia interest rates strategist, Executive Director, Nomura said, "One big reason why INR is behaving in this fashion is due to its sensitivity to oil prices which is very high. The market is generally differentiating between the current account deficit and current account surplus nations. In a way, INR is suffering due to current account deficit and its price sensitivity to oil prices."

"We expect the INR to head towards Rs 71-72/USD but in the near-term there is a higher likelihood of consolidation at current levels," he added.

On Wednesday, the rupee closed at a historic low of 70.59 after it plunged to all-time low of 70.65 on the back month-end dollar demand from importers and foreign capital outflows.

Yesterday rupee posted a biggest single session decline against US dollar since August 13, 2018.

The rupee has fallen by 10 percent this year so far - making it the worst-performing currency in Asia.

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Wednesday, August 29, 2018

Closing Bell (29 Aug 2018)

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Nifty jittery ahead of F&O expiry, Sensex sheds 38,750; midcaps gain

A sharp selloff in the last hour of trade weighed on equity benchmarks on Wednesday, with the Nifty giving up 11,700-mark. Weakness among giant index names such as Reliance Industries, HDFC Bank, and Infosys, among others, dragged the market lower as well.

Banks had a negative impact on the market, along with energy stocks, infra, IT and pharmaceutical names. However, PSU banks and metals tried to offset the losses, but bulls had the tide in their favour.

However, there was a strong upmove in the broader markets, with the Nifty Midcap index ending just around half a percent higher. The index had managed to soar a percent during the day’s trade.

Rise in crude oil prices due to withholding of supply by Iran as well as a depreciating rupee too added to the negative sentiment. The Indian currency managed to fall to a fresh record low of 70.57 per US dollar. Analysts that Moneycontrol spoke to attributed this to the month-end dollar demand by oil companies.

As such, all other factors are supportive of the currency. It could see appreciation after one or two days once this demand is out of the market,” Rushabh Maru, Research Analyst at Anand Rathi Shares and Stock Brokers told Moneycontrol. For the very short term, he expects support to be around 70.20/USD and resistance around 70.75/USD.

The day began on a flat note, with some weakness seen in banks. Throughout the day, equities traded flat, but a selloff in index heavyweights such as RIL and HDFC Bank, among others, dragged them lower.

At the close of market hours, the Sensex closed 173.70 points or 0.45% lower at 38722.93, while the Nifty fell 46.60 points or 0.40% at 11691.90. The market breadth is negative as 1,275 shares advanced, 1,415 shares declined, while 172 shares were unchanged.

ONGC, SBI, Bajaj Finance and UPL are the top gainers, while Coal India, RIL and Power Grid have lost the most.

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Source:https://www.moneycontrol.com/news/business/markets/an-evening-walk-down-dalal-street-nifty-jittery-ahead-of-f-midcaps-gain-2894491.html

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MCX Support and Resistance Level (29 Aug 2018)

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NCDEX SUPPORT & RESISTANCE LEVEL (29 AUG 2018)

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INTERNATIONAL MARKET UPDATE (29 AUG 2018)

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Sensex continues to trade flat, Nifty manages to hold 11,700; midcaps outperform

Weakness in IT and FMCG is being offset by metals and pharma. Midcaps have had a strong start, outperforming the benchmarks.

Following days of rally in the market, benchmarks have taken a pause on Wednesday morning. The Sensex and Nifty are trading flat, with the latter managing to hold 11,700-mark. The Bank Nifty is trading flat, but PSU bank index is higher by around half a percent.

Weakness in IT and FMCG is being offset by metals and pharma. Midcaps have had a strong start, outperforming the benchmarks. The Nifty Midcap index is up almost a percent.

Among shares, State Bank of India is up almost a percent on the back of its plan to sell stake in NSE. Meanwhile, Jet Airways is up over a percent after it received 300 million dollar liquidity support from banks.

The Sensex is up 0.55 points or 0.00% at 38897.18, while the Nifty is down 6.00 points or 0.05% at 11732.50. The market breadth is positive as 1,046 shares advanced, against a decline of 626 shares, while 98 shares were unchanged.

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Source: https://www.moneycontrol.com/news/business/markets/market-live-sensex-continues-to-trade-flat-nifty-manages-to-hold-11700-midcaps-outperform-2891411.html

Tuesday, August 28, 2018

Closing Bell (28 Aug 2018)

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NCDEX SUPPORT & RESISTANCE LEVEL (28 AUG 2018)

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INTERNATIONAL MARKET UPDATES (28 Aug 2018)

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Opening Bell (28 Aug 2018)

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Monday, August 27, 2018

Nifty hits 11,700, forms bullish candle; tread with caution

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Closing Bell (27 Aug 2018)

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INTERNATIONAL MARKET UPDATE (27 Aug 2018)

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NCDEX SUPPORT & RESISTANCE LEVEL

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Bank stocks surge led by SBI, YES Bank; MOIL zooms 10%, Axis Bank hits new 52-week high

The breadth of the market favoured advances, with 1086 stocks advancing, 534 declining and 456 remaining unchanged. On BSE, 1345 stocks advanced 630 declined and 105 remained unchanged.
New week and a new start for the Indian markets with the Sensex and Nifty hitting new record highs. The Nifty50 jumped 100 points and is trading at 11,656 while the Sensex zoomed 354 points at 38,606.

Banking stocks are rallying the most with the PSU bank index adding 1.5 percent led by State Bank of India which is up 1.5 percent followed by Bank of Baroda, Canara Bank, Bank of India, Punjab National Bank and Union Bank of India.

From the private banking space, YES Bank, Kotak Mahindra Bank, RBL Bank, ICICI Bank and IDFC Bank are the top performers.

Nifty metal index has also added over a percent led by MOIL which zoomed 10 percent while Jindal Steel & Power, Hindalco Industries, JSW Steel, NALCO, NMDC, SAIL and Tata Steel added up to 2 percent.

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Source:https://www.moneycontrol.com/news/business/markets/d-street-buzz-bank-stocks-surge-led-by-sbi-yes-bank-moil-zooms-10-axis-bank-hits-new-52-week-high-2883551.html

Openiing Bell (27 Aug 2018)

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Friday, August 24, 2018

Closing Bell (24 Aug 2018)

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Best Stocks of 2018

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INTERNATIONAL MARKET UPDATE (24 AUG 2018)

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NCDEX SUPPORT & RESISTNCE LEVEL (24 AUG 2018)

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Sensex marginally higher, Nifty around 11,600; Axis Bank up 2%

A sharp recovery in banks as well as metals has helped the market. FMCG and pharmaceuticals are trading in the red.

Equities have begun the last trading session for the week on a sombre note, with the Nifty hovering around 11,550. The Sensex is trading flat. All sectoral indices are trading in the red, with maximum cuts visible in banks, FMCG, and metals, among others. Among broader markets, midcaps, too have taken a hit, down about a quarter of a percent.

The Sensex is down 28.95 points or 0.08% at 38307.81, and the Nifty down 20.90 points or 0.18% at 11561.90. The market breadth is positive as 346 shares advanced, against a decline of 187 shares, while 48 shares were unchanged.

Axis Bank, IndusInd Bank, and HCL Tech are the top gainers, while ICICI Bank, Vedanta, Hindalco and Bharti Infratel have lost the most.

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Source: https://www.moneycontrol.com/news/business/markets/market-live-sensex-marginally-higher-nifty-around-11600-axis-bank-up-2-2875471.html

Thursday, August 23, 2018

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RIL hits market capitalisation of Rs 8 lakh crore; stock touches fresh record high

The huge upmove in the stock has been visible especially after the company laid out big plans at its annual general meeting (AGM), including the launch of its fibre-to-the-home service, GigaFiber.

Market capitalisation of Reliance Industries on Thursday touched Rs 8 lakh crore on the BSE. The stock also touched a fresh 52-week high of Rs 1,260.80.

The huge upmove in the stock has been visible especially after the company laid out big plans at its annual general meeting (AGM), including the launch of its fibre-to-the-home service, GigaFiber.

The stock surpassed m-cap of Rs 7 lakh crore on July 13, 2018. The company on July 12 crossed the $100-billion market capitalisation mark for the first time in the last 10 years. IT bellwether Tata Consultancy Services' market valuation had in May surged past Rs 7 lakh crore.

While having a Buy rating on the stock with a target price of Rs 1,424, Vineeta Sharma, Head of Research, Narnolia Financial Advisors said with all the verticals now performing well and the capex cycle nearing the end, Reliance is expected to derive 18 percent and 12 percent plus profit growth in FY19 and FY20.

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Source: https://www.moneycontrol.com/news/business/markets/ril-hits-market-capitalisation-of-rs-8-lakh-crore-stock-touches-fresh-record-high-2871991.html

INTERNATIONAL MARKET UPDATE (23 AUG 2018)

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NCDEX SUPPORT & RESISTANCE LEVEL (23 AUG 2018)

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Sensex, Nifty off high points after record opening; pharma gains big

Some pressure is visible among banking names as well as automobiles and metals. The midcap index is trading flat.

After seeing fresh highs in the opening minutes, equities are off their high points, with the Nifty hovering around 11,600. The Sensex is up almost 100 points. Among sectors, pharmaceuticals are leading the charts, while FMCG is also trading strong.

Some pressure is visible among banking names as well as automobiles and metals. The midcap index is trading flat. Shares of Mahanagar Gas are down 6 percent on the back of a huge block deal sale to the tune of Rs 1,300 crore.

At 09:46 hrs IST, the Sensex is up 66.15 points or 0.17% at 38351.90, while the Nifty is up 16.00 points or 0.14% at 11586.90. The market breadth is narrow as 1,034 shares advanced, against a decline of 766 shares, while 105 shares were unchanged.

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Source: https://www.moneycontrol.com/news/business/markets/market-live-sensex-nifty-off-high-points-after-record-opening-pharma-gains-big-2870321.html

Opening Bell (23 Aug 2018)

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Wednesday, August 22, 2018

Know How to Deal With Stock Market Correction

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Tuesday, August 21, 2018

Equities end the session on a record high note, Nifty above 11,550

Selling in banks after an initial rally dragged the indices lower from their high points. Along with it, weakness was visible in sectors such as metals and FMCG

The day started with the market hitting fresh highs of 11,581 on the Nifty, while the Sensex hit 38,402.96 in the morning. But the selloff immediately dragged them lower and steadied it around flat lines through the day. Experts believe that investors could also be waiting for cues from US-China trade meeting lined up on Wednesday along with any other global cues.

The market will be shut tomorrow on account of Bakri Id.

Stocks in news

Vadilal Industries’ share price recovered to end 2 percent lower after falling 12 percent intraday. This is in addition to 20 percent fall in previous session after ace investor Ashish Kacholia cut his shareholding in the company.

Shares of HCL Technologies added 1 percent after its shareholders approved the company’s Rs 4,000-crore buyback proposal.

Tech Mahindra added 3 percent after foreign research house BoFAML (Bank of America Merrill Lynch) upgraded the stock to buy from underperform rating. The research house raised target price to Rs 800 from Rs 600 per share, implying an upside of 33 percent.

Meanwhile, MEP Infrastructure Developers fell 1 percent as company received letter from Maharashtra government asking it to not collect toll at Airoli (Mumbai region) toll plaza for next 1 month.

Shares of Lupin added more than 2 percent as it received USFDA approval for dermatitis lotion.

Shares of Jet Airways were trading lower by 3 percent as investors reacted negatively to allegation of siphoning off of funds by the promoters. On August 20, 2018, Moneycontrol reported that fresh trouble is around the corner for Naresh Goyal-owned Jet Airways as the Ministry of Corporate Affairs (MCA) has opened a preliminary inquiry into the carrier on suspicion it siphoned off funds.

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Source: https://www.moneycontrol.com/news/business/markets/an-evening-walk-down-dalal-street-equities-end-the-session-on-a-record-high-note-nifty-above-11550-2867001.html

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INTERNATIONAL MARKET UPDATE (21 AUG 2018)

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Equity benchmarks continued to trade flat after giving up almost all gains, with the Nifty hovering around 11,550.

At 11:15 hrs IST, the Sensex is down 12.30 points or 0.03% at 38266.45, and the Nifty down 0.00 points or 0.00% at 11551.80. The market breadth is narrow as 1,194 shares advanced, against a decline of 1,046 shares, while 142 shares are unchanged.

Banks continue to be the losers along with metals, infra, and FMCG names. Meanwhile, IT continues to be the lead gainer.

Wipro and Coal India are the top gainers on both indices, while Tata Steel, ICICI Bank and BPCL have lost the most.

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Source: https://www.moneycontrol.com/news/business/markets/market-live-subdued-moves-continue-on-d-street-nifty-hovers-around-11550-banks-fall-2864321.html

MCX SUPPORT & RESISTANCE LEVEL (21 AUG 2018)

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Monday, August 20, 2018

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NCDEX MARKET UPDATE (20 AUG 2018)

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INTERNATION MARKET UPDATES (20 AUG 2018)

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Metal & pharma stocks propel Nifty to record high; L&T up 4%, Yes Bank hits new 52-week high

The breadth of the market favoured advances, with 1124 stocks advancing, 462 declining and 481 remaining unchanged. On BSE, 1289 stocks advanced, 562 declined and 87 remained unchanged.

The Nifty for the first time has hit record high this Monday morning and is up 56 points, trading above 11,500. The Sensex on the other hand jumped 217 points and is trading at 38,167.

The metal index is up 1 percent with gains from Jindal Steel & Power, Hindalco Industries, Coal India, JSW Steel, Tata Steel, MOIL and Vedanta.

Nifty pharma has also added 1 percent led by Cadila Healthcareand Divis Labs which jumped 3-4 percent followed by Glenmark Pharma, Aurobindo Pharma and GSK Pharma.

PSU banks are also trading on the positive side led by State Bank of India, Canara Bank, Andhra Bank, Bank of Baroda, Oriental Bank and Union Bank of India.

Individual oil & gas stocks are also buzzing this Monday morning led by ONGC, HPCL and Reliance Industries.

However, IT stocks are trading lower dragged by Infosys which is down 2 percent while KPIT Tech, Tech Mahindra and HCL Tech are the other losers.

Larsen & Toubro, up 4 percent ahead of its Board meet along with ONGC, Coal India, Yes Bank and HPCL are the top gainers on the Nifty.

The most active stocks include Infosys, L&T, Yes Bank, Sun Pharma and Dewan Housing Finance.

The top BSE small gainers include names like Mangalore Chemicals which jumped 11 percent followed by PTC India Financial, Mawana Sugars and Skipper India.

The top BSE gainers are PTC India Financial, KPR Mills, Kwality, Larsen & Toubro and Tata Steel.

Britannia Industries, DHFL, Divis Labs, GSK Pharma,Hindustan Unilever, Indiabulls Ventures, L&T Infotech, Mahindra & Mahindra, PAGE Industries and Yes Bank are some of the stocks which have hit new 52-week high in the morning trade on NSE.

The breadth of the market favoured advances, with 1124 stocks advancing, 462 declining and 481 remaining unchanged. On BSE, 1289 stocks advanced, 562 declined and 87 remained unchanged.

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Source: https://www.moneycontrol.com/news/business/markets/d-street-buzz-metal-lt-up-4-yes-bank-hits-new-52-week-high-2859841.html