India becomes world's 7th largest stock market by mcap; stocks that could benefit from its rise

India’s healthy economic growth has helped its stock market become the seventh largest market by size, with a market capitalisation (mcap) of $2.08 trillion. Its stock market has overtaken that of Germany, Europe’s largest economy, for the first time in seven years, according to Bloomberg. The US dominates the global ranking, with $27 trillion mcap, followed by China, Japan, Hong Kong, UK, France and India.

India’s economic growth will continue to propel mcap higher

India’s ascent reflects the growing clout of emerging markets. It also indicates its economy is positioned for sustained growth, even if the manufacturing sector is not firing on all cylinders. The BSE Sensex, the broad market benchmark, is up 5 percent in past one year in terms of local currency and down around four percent in US dollar terms, still outperforming MSCI Emerging Market index that declined 17 percent.

Source: https://www.moneycontrol.com/news/business/moneycontrol-research/india-becomes-worlds-7th-largest-stock-market-by-mcap-stocks-that-could-benefit-from-its-rise-3321791.html

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Options data indicates short-term trading range of 10,600-10,900

Nifty has taken resistance from previous swing high and formed shooting star candle which is justifying the selling pressure on higher side around the strong psychological mark of 11,000 and 100-DMA at 10,950.

ADX indicator is trading around 17 mark, which is less than crucial levels considered for a trending market, expresses no strength in current trend on either side suggesting market to take support at a lower level and close the month sideways.

However, weekly RSI is still placed near 50 for the last four weeks indicating sideways to positive momentum intact. Also, looking at market movement since 2001, there is 95% probability that markets will have positive Christmas week.

On the downside, Nifty has strong support from the line of parity around 10,700 and 50-DMA at 10,574. A major unwinding of Put writing and shifting of writing to lower strikes was seen on Friday. Option data suggests an immediate trading range of 10,600 and 10,900.

Bank Nifty

Banking index is trading in rising wedge pattern having lower side support around 26,300 and upper trend line resistance is placed near 27,250 levels. Since Bank Nifty is trading above major moving averages, its short-term & mid-term trend is positive and immediate trading range is 27,250-26,300 levels.

Source:https://www.moneycontrol.com/news/business/markets/options-data-indicates-short-term-trading-range-of-10600-10900-3319041.html

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MCX Support and Resistance Level

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Sensex, Nifty continue downward momentum; midcaps crack

Market opens It’s a positive start to the market on Monday morning, with the Nifty trading one-fifth of a percent higher. 

The Sensex is up 89.93 points or 0.25% at 35832.00, while the Nifty is higher by 21.80 points or 0.20% at 10775.80. The market breath was narrow as 278 shares advanced, against a decline of 164 shares, while 45 shares were unchanged.

Metals and automobiles are the ones to be in the red, while consumption, pharma and PSU banks were gainers. In the broader market, the Nifty Midcap was up quarter of a percent. 

Shares of Infosys, Wipro, and Indiabulls Housing were the top gainers, while Vedanta and Hero MotoCorp lost the most. 

Asian markets trade lower: Asian stocks started in subdued fashion on Monday as investors fretted that political instability in the United States was leaving the country rudderless at a time when the global economy was showing signs of faltering.

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Opening Bell

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HDFC Securities sees Nifty hitting 12,400 in 2019; 6 sectors it is talking about

The Nifty target for calendar year 2019 has been set at 12,400, analysts at HDFC Securities shared in a note. They believe that the market could move towards a cautious return-seeking position along with higher volatility.

Among the key events the market will watch keenly next year are Brexit, European Union Parliamentary elections, and general elections in India.

Meanwhile, positive cues for the market include reasonable valuations, sentiment in favour of emerging markets (EMs) should trade risks reduce. Along with it, it is betting on recovery in corporate earnings and seven out of 12 IBC cases getting solved.

The concerns highlighted by investors include reduced spending by government, leading to lower offtake growth in auto, FMCG and media, among others. Further, continued rise in rates by US Federal Reserve along with mutual fund tapering off post general elections could weight, it says.

The research firm shared outlook on multiple sectors. Here is a gist of those themes:

- Consumer: HDFC Securities believes that the sector has lower incremental potential. Its top picks include ITC, Voltas and V-Guard.

- Financials: The brokerage believes one could look for capable managements that are positioned for growth in long term. SBI and BoB, which have better capital and better operating practices will follow secular path.

- IT Services: Recent concerns around threat from digital evolution has misplaced us, it aid, adding that it is confident of growth trajectory at Infosys, TCS and L&T Technology.

- Infrastructure: It likes KNR Constructions and PNC Infratech. Slowdown in ordering could pick up in fourth quarter,

- Oil & Gas and mining: It sees overhang of government policies on pricing and distribution. It likes GAIL, Petronet, IGL and MGL.

- Metals: It recommends avoiding the sector as Chinese slowdown could have strong repercussions.

- Auto and Cement: Near term challenges could keep stock momentum in check. It prefers Ashok Leyland.

- Pharma: It expects pharma to spring a surprise in the coming months.

Source:https://www.moneycontrol.com/news/business/markets/hdfc-securities-sees-nifty-hitting-12400-in-2019-6-sectors-it-is-talking-about-3316931.html

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Indian ADRs end in red: ICICI Bank, Tata Motors end lower, Wipro falls 4%

In the IT space, Infosys was down 1.94 at USD 9.10 and Wipro plunged 4.09 percent at USD 4.93. In the banking space, ICICI Bank fell 2.74 percent at USD 9.93 and HDFC Bank shed 2.33 percent at USD 100.40.

Indian ADRs ended lower on Friday. In the IT space, Infosys was down 1.94 at USD 9.10 and Wipro plunged 4.09 percent at USD 4.93.

In the banking space, ICICI Bank fell 2.74 percent at USD 9.93 and HDFC Bank shed 2.33 percent at USD 100.40.

In the other sectors, Tata Motors slipped 0.48 percent at USD 12.37 and Dr Reddy's Laboratories was down 1.21 percent at USD 36.84.

Source: https://www.moneycontrol.com/news/business/markets/indian-adrs-end-in-red-icici-bank-tata-motors-end-lower-wipro-falls-4-3317801.html

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