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Showing posts with label Nifty 50. Show all posts
Showing posts with label Nifty 50. Show all posts
Thursday, July 5, 2018
NCDEX SUPPORT & RESISTANCE LEVEL
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Wednesday, July 4, 2018
NCDEX SUPPORT & RESISTANCE LEVEL
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Monday, July 2, 2018
TVS Motor June sales increase 15% to 3.13 lakh units, beat expectation
TVS Motor Company sold 3.13 lakh units in the month of June 2018, a growth of 15 percent compared to 2.73 lakh units sold in year-ago month.
The total sales were ahead of Nomura expectation of 2.99 lakh units.
The company said its 2-wheeler sales increased 12.1 percent year-on-year to 3.01 lakh units and scooter sales jumped 13.6 percent to 1.02 lakh units.
Exports during the month grew by 48.6 percent to 65,971 units while 3-wheeler sales shot up 140.9 percent to 12,413 units compared to year-ago month.
At 14:54 hours IST, the stock price was quoting at Rs 558.80, up Rs 6.50, or 1.18 percent on the BSE.
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Source:https://www.moneycontrol.com/news/business/markets/tvs-motor-june-sales-increase-15-to-3-13-lakh-units-beat-expectation-2659931.html
MCX SUPPORT & RESISTANCE LEVEL
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Saturday, June 30, 2018
IDBI Bank will get LIC's money, but what more will it need to turn around
Optimists see the bank's performance turning around in as early as one year, but others believe it will take 3-4 years for LIC to affect a proper turnaround
Troubled public sector lender IDBI Bank got a fresh lease of life this weak from the country's largest life insurer Life Insurance Corporation of India (LIC).
In an unprecedented move, the Insurance Regulatory and Development Authority of India's board on Friday approved a proposal for LIC to own up to 51 percent stake (as against the 15 percent limit) in the PSU bank.
The move has been hailed by many as the "most workable" solution for rescuing the ailing bank from the mountain of bad loans it is currently sitting on, which is just short of 30 percent of its entire loan book.
This is not the first time the government has come to the rescue of a public sector bank. What is different is that in IDBI Bank's case, the responsibility of a bailout has shifted from taxpayers to insurance policy holders.
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Source:https://www.moneycontrol.com/news/business/idbi-bank-will-get-lics-money-but-what-more-will-it-need-to-turn-around-2655141.html
Friday, June 29, 2018
June series analysis: Traders beware as most positions haven't been rolled over
The June series started with lighter open positions and rallied in the first fortnight along with fresh long build-up. The Nifty failed to sustain above its crucial hurdle of 10,850–10,900 and started correcting.
The fall seen in the last two weeks was supported by a large number of short positions. Low rollover (64.05 percent), both in term of open interest (-2.16 percent month-on-month) as well as in percentage term s(quarterly average is 67.89 percent), indicates that most positions formed in June series didn’t get carried over to the July series.
Fresh open interest build-up from current levels will dictate a further move in the index. In the month gone by, foreign institutional investors added a large amount of fresh short positions in index futures. As a result, the long-short ratio reached 35 percent from 44.20 percent at the start of the series.
FIIs sold equities worth Rs 10,092 crore in the June series, which doesn’t bode well for the markets. On the options front, 11,000 call and 10,600 put followed by 10,500 put is seeing investor attention in the July series.
The Bank Nifty started the June expiry with a large amount of long positions. But the bulls failed to capitalise on that. As a result, the banking index remained sideways for major part of the June series.
We didn’t witness any meaningful open interest addition in the entire series. Rollover in the Bank Nifty (71.79 percent) was below its quarterly average of 77.62 percent. It is also lower in term of open interest, as we witnessed unwinding of 31.88 percent positions in the June series as compared to the May series.
The rollover data clearly indicates that most long positions, which got carried forward from the May series, are now out of the system. However, some of the long positions formed at lower levels in April are still intact in the system.
Among stocks, Dr Reddy’s Laboratories, Bajaj Finance, Bata India and Reliance Industries were among the few counters which added a large amount of long positions and the same got rolled to the July series.
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
While a good amount of shorts got rolled in the stocks like NCC, NBCC, SREI Infra, Dalmia Bharat, Ashok Leyland, Bank of Baroda, MRPL, REC, Sun TV etc. among others.
Disclaimer: The author is Technical & Derivatives Analyst at Centrum Broking Limited. The views and investment tips expressed by the investment expert on Moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Wednesday, June 27, 2018
INTERNATIONAL MARKET UPDATE:
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IndusInd Bank hits record high after acquisition of IL&FS Securities Services
IndusInd Bank share price hit a fresh record high of Rs 1,995 in the opening after the private sector lender decided to acquired infra lender IL&FS' brokerage business. However, the stock price immediately wiped out those opening gains to trade 0.33 percent lower at Rs 1,977 on the BSE, at 09:30 hours IST.
The city-based lender, which has recently got the final nod for a merger with microlender BFIL, has received the Reserve Bank go-ahead for acquiring IL&FS Securities Services, it said in a statement.
"The acquisition will help us scale up the present capital market business in the bank and bring new specialised products, hitherto not offered by us, to our clients," said Romesh Sobti, managing director and chief executive officer, IndusInd Bank.
Incorporated in 2007, the brokerage offers clearing of exchange traded derivatives, depository and custodial services and has over 1,000 broker client accounts, FPIs and FIIs, the statement said, adding that its platform sees three million transactions a day.
It had clocked revenues of Rs 324.5 crore in FY18 versus the previous fiscal's Rs 342.65 crore, and a post tax net of Rs 45 crore.
The bank acquired securities business for an undisclosed amount. A definitive agreement for acquisition of 100 percent ownership against cash has been signed.
IndusInd Bank said it would take up to three months to complete the acquisition.
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Source: https://www.moneycontrol.com/news/business/markets/indusind-bank-hits-record-high-after-acquisition-of-ilfs-securities-services-2638981.html
Opening Bell (27 June 2018)
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Tuesday, June 26, 2018
Closing Bell (26 June 2018)
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Oil India gains 1% on hydrocarbon discovery in KG Basin, Andhra Pradesh
The company through its exploratory efforts has made its second hydrocarbon discovery in the onland KG Basin NELP VI Block: KG-ONN-2004/1 in the month of May 2018 at well Thanelanka-l in Andhra Pradesh.
Earlier, a gas discovery was made at well Dangeru -lin Andhra Pradesh in the block.
The well Thanelanka-1 is the first High Pressure - High Temperature (HP-HT) well drilled by the company and has encountered multiple sands in Gollapalli Formation of Late Jurassic-Early Cretaceous and one zone in Raghavapuram Formation of Intra Cretaceous.
On testing, the HP-HT zone in the depth range 4912-5159 m in Golapalli Formation produced gas at 1300 scmd through 16/64" bean choke. Presently, the well is under further testing.
At 11:50 hrs Oil India was quoting at Rs 210.60, up Rs 2.50, or 1.20 percent.
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Source:https://www.moneycontrol.com/news/business/oil-india-gains-1-on-hydrocarbon-discovery-in-kg-basin-andhra-pradesh-2634381.html
NCDEX SUPPORT & RESISTANCE LEVEL
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Market Live: Sensex opens 100 pts lower; Asia under pressure on crude worries
"The company is not aware of any such negotiations. We would like to state that the company does not have any information on the news item published," the company said in an exchange notification.
The share had rallied on Monday, around 15 percent, on the back of media reports that the bank’s controlling stake was up for grabs. However, senior management at HDFC and now at PNB Housing Finance have clarified that no such talks are underway.
According to a report on The Economic Times, both the lenders were competing for a controlling stake in PNB Housing Finance in a bid to get better access to mortgage market.
The report further added, quoting sources, PNB and Carlyle were looking to sell their 66 percent stake to a large investor. The deal is expected to fetch them about Rs 6,000 crore each, the people said.
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Source: https://www.moneycontrol.com/news/business/markets/market-live-sensex-opens-100-pts-lower-asia-under-pressure-on-crude-worries-2633361.html
Monday, June 25, 2018
INTERNATIONAL MARKET UPDATE:
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Market Live: Sensex opens lower, Nifty holds 10,800; Tata Motors, ICICI Bank, SBI down
Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 54.5 points or 0.51 percent. Nifty futures were trading around 10,782.5-level on the Singaporean Exchange.
Shares of ICICI Bank lost around 2 percent in the morning trade as investors turned cautious of another whistleblower complaint against it.
The stock has touched an intraday high of Rs 300.20 and an intraday low of Rs 295.45.
The bank now faces allegations of "irregularities in the conduct of some borrower accounts" and "incorrect accounting", thanks to a third whistleblower complaint in as many years.
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Source: https://www.moneycontrol.com/news/business/markets/market-live-sensex-nifty-may-open-lower-on-weak-asian-cues-2628461.html
MCX SUPPORT & RESISTANCE LEVEL
Saturday, June 23, 2018
Bajaj Finance market cap sails past Axis Bank
Bajaj FinanceNSE 3.48 % on Friday surpassed Axis BankNSE 2.46 % in market value for the first time. The market capitalisation of the finance company stood at of Rs 134,952 crore on Friday after the stock gained 3.5 per cent to close at Rs 2,335. Axis Bank’s market capitalisation ended at Rs 134,725 crore. This makes Bajaj Finance the sixth most valuable company in the banking, financial services and insurance (BFSI) sector in India. Bajaj Finance, which gained 33 per cent so far this year as compared to a 4 per cent rise in the Sensex, is currently trading at a price-to-book ratio of 8, making it one of the expensive stocks in the BFSI space.
Though valuations of Bajaj Finance are not cheap, analysts remain positive about its prospects.
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Source:https://economictimes.indiatimes.com/markets/stocks/news/bajaj-finance-market-cap-sails-past-axis-bank/articleshow/64707564.cms
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