Stock Market Live

Indian equity markets witnessed a gap up on Monday. However profit booking at higher levels took the leading indices down by about 1% in the afternoon session. By the end of the day we saw some recovery in market and nifty managed to close at 6089. Nifty on daily charts has formed Bearish engulfing pattern and RSI is showing negative divergence. This suggest market is has formed short term top and may see some weakness ahead. However there are some positive points as well nifty has hold on to levels of 6080 on closing basis as well hold on to lows of hanging man which was formed on 11th October, 2013. This correction is healthy and trend will reverse only if nifty breaks 5960 on closing. So buying on dips would be best strategy.  For intraday nifty has resistance around levels of 6120-6175. On downside support for nifty is around 6040-5990.

National Aluminium Company’s alumina exports in the first half of FY14 vaulted 50 per cent from a year ago, mainly on account of the capacity expansion undertaken by the company. In the six months to September, Nalco exported 638,000 tonnes of alumina compared with 425,000 tonnes in the same period of fiscal 2012-13, the company said recently. The jump was largely because the company has expanded production capacity. We expect the scrip to move upwards in near term. 

Mindtree’s net profit rose by 77.8% to Rs 128.7 crore for the September quarter on the back of a strong growth in manufacturing and retail vertical. Revenues for the reported quarter grew 29.2% to Rs 769.5 crore from Rs 595.3 crore in the same period last fiscal.

Heidelberg Cement India today reported a Rs 28.35 crore loss for the July-September quarter on higher finance costs and depreciation expenses. The company, a subsidiary of German building material major Heidelberg Cement, had clocked Rs 7.5 crore net profit in the same quarter last fiscal.

Bajaj Holdings & Investments has posted a net profit after tax of Rs. 484.12 crore for the quarter ended September 30, 2013 as compared to Rs. 485.64 crore for the quarter ended September 30, 2012. Total Income has increased from Rs. 506.43 crore for the quarter ended September 30, 2012 to Rs. 508.36 crore for the quarter ended September 30, 2013.

Buoyed by a strong demand for outsourcing services, Tata Consultancy Services (TCS) would hire 5,000 people more than its initial target of 45,000 this fiscal. 

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Stock Market News Today

Indian markets are expected to open largely flat tracking flat to negative opening in most of the Asian markets as data out over the weekend showed a surprise drop in Chinese exports in September. In addition, August IIP data (for India) released on Friday came in at paltry 0.6% vs 2.8% in July.
US markets moved mostly higher on Friday benefiting from signs that lawmakers in Washington are making progress toward resolving the latest fiscal crisis and House Republicans were proposing a deal that would avert default and end the 11-day-old government shutdown. On the economic front, Thomson Reuters and the University of Michigan released a report showing that US consumer sentiment has continued to deteriorate in the month of October with index coming in at 75.2 compared to the September reading of 77.5. Meanwhile, European markets also ended higher on Friday on optimism that a deal on the debt-ceiling may be soon reached in the US, as the partial government shutdown enters the 11th day.
Indian markets sharply on Friday, with IT and realty stocks leading the rally, after Infosys reported healthy set of earnings results and capital market regulator SEBI issued draft regulations for setting up real estate investment trusts to increase the depth of India's real estate market in the country.

Economic and Corporate Developments

- The Reserve Bank of India's (RBI) net dollar sales in the forex spot market was $2.46 billion in August — when the rupee touched an all-time low of 68.85 against the dollar during intraday trades — compared with $5.9- billion in July. According to RBI data released on Thursday, it sold $3.1- billion and bought $324 million in August.
- The finance ministry pegs the current account deficit (CAD) at 3.7 per cent of gross domestic product (GDP) for the current financial year, but a survey by the Federation of Indian Chambers of Commerce and Industry (FICCI) projected it to be four per cent. This is high since many analysts peg the CAD at less than that forecast by the ministry.
- The Reserve Bank of India (RBI) has granted permission to banks to borrow from international/multilateral financial institutions for a limited period of up to November 30, said RBI on Thursday. RBI also said such borrowings should be for the purpose of general banking business and not for capital augmentation. According to the central bank, such borrowings shall be eligible for the concessional swap facility of RBI.

Result Review 

Reliance Industries (CMP: Rs.863/ TP: - Rs.953/ Upside: 10%)

Reliance Industries Ltd. (RIL) is scheduled to announce its 2QFY2014 results today. We expect the company's top line to increase by 6.4% yoy to Rs.96,117cr due to higher petrochemical prices during the quarter and INR depreciation against the US$. We expect the company's operating margin to contract by 95bp yoy to 7.7% due to lower gas production. The company's bottom-line is expected to increase by only 2.7% yoy to Rs.5,555cr. We maintain our Accumulate rating on the stock.

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Stock Market Watch

Many companies with over-average rural exposure fare better in stock market

      India Inc's rural champions have probably never had it so good. The best monsoon in 15 years has erased bad memories of last year's drought and kindled hopes of a turnaround in demand for key products. At a time when the rest of India Incis either groaning under heavy debt or struggling to sell in a sluggish market, companies with heavy rural focus are literally licking their lips in anticipation of a surge in demand in India's villages and towns. Already, two-wheeler sales are inching up, tractor sales are booming and banks are hiring employees in far-flung regions, hoping to benefit from a monsoon that has increased the kharif area by 5% and water reservoir levels by 15%. 

       Deutsche Bank says in a report that years of above-average rainfall have increased rural prosperity and stock markets have responded by pushing up prices of companies with a strong rural presence. But there is an interesting divergence here. Companies with above-normal exposure to rural areas are doing much better than those with an equal split of urban and rural or with less than average rural presence. So, an M&M Financial, with 80% of income from rural areas, is outperforming Bajaj Finance and Shriram Transport; Emami and ITCBSE -0.65 % are outperforming Hindustan Unilever, Hero's traditional rural strength is helping its stock race past Bajaj Auto.

Stock Market Tips For Today 04-10-2013

BUY ASTRAZENECA PHARMA (LCP 896.3) ABOVE 903 TG-910-920
BUY FINTECH (LCP-159.55) ABOVE 161 TG-164-168

     
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Live Stock Market Trading Tips & News updates For Today

 Indian markets crashed on Tuesday over weak domestic and global macro-economic outlook. INR nosedived to 66-mark against USD and concerns related to government's fiscal burden after the passage of Food Security Bill weighed on sentiment. Nifty down by 189 pts, closed at 5287. Sensex down by 590 pts, closed at 17968. Europe is in red.

·         Indian markets dives down. Nifty, Sensed down by 3.45% and 3.18%.          

·         Asia-Pacific markets traded low over Syria fears and weak US data.

·         US in red. German Bus. Clim. went up. Dow Futures down by 105 pts.

Today Research Calls :

·         SELL BATA(LCP-792.25) BELOW 789 TG-780-770

·         SELL AXIS BANK (LCP-877.65) BELOW 872 TG-864-854

·         SELL ASTRAZENECA PHARMA(LCP 808.4) BELOW 803 TG-795-785

·         SELL AJANTA PHARMA (LCP-775.35) BELOW 770 TG-762-751

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Accurate Intraday Stock Tips For Today By Money CapitalHeight

Indian markets ended with small gain after witnessed high intraday volatility throughout the day.  The movement of the rupee weakened against the dollar today. Asian stocks rose and gold hit a near three-month high. Nifty up by 4.75 pts, closed at 5476.50. Sensex up by 38.70 pts, closed at 18558.15. Europe markets are trading mixed.

Today Research Calls :

·         SELL RELIANCE INFRA(LCP-352.75) BELOW 351 TG-347-341

·         SELL AXIS BANK (LCP-934.1) BELOW 930 TG-981-970

·         SELL DLF(LCP 137.05) BELOW 136 TG-134.2-131.5

·         BUY FINTECH (LCP-144.55) ABOVE 146 TG-148-151

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Stock Market Outlook – Stock Market News By Money CapitalHeight

Indian market closed at one-month high Thursday with the benchmark indices rising 2 percent. The BSE Sensexrose 381.94 points to close at 19676.06 after hitting an intraday high of 19723.51. The NSE Nifty soared 118.40 points to finish at 5935.10.All eyes will be on Narayan Murthy's return and commentary from him as earnings season officially kicks starts with IT major Infosys reporting April-June numbers today. According to a CNBC-TV18 poll, it is expected to be a muted first quarter with dollar revenue seen flat at USD 1957 million while profits may dip 3 percent. Further margin  pressure is seen. FY14 dollar revenue guidance could be maintained at 6-10 percent.

Stock Market Outlook:

NIFTY TREND: CONSOLIDATE

NIFTY SPOT LEVELS

SUPP 1: 5870 ; SUPP 2: 5775

RES 1: 5975 ; RES 2: 6070

BANK NIFTY TREND: CONSOLIDATE

BANK NIFTY FUTURE LEVELS

SUPP 1: 11590 ; SUPP 2: 11310

RES 1: 11770 ; RES 2: 11990

Stocks to be in focus today:

·   In the latest on strike at Bajaj Auto 's Chakan plant in Pune, there is a tripartite meeting in between the Chief Labour Commissioner, Bajaj Auto management and workers.

·   Agency reports indicate that Coal India 's arm has signed two fuel supply pacts with NTPC . Sources say that the arm will supply 2.3 mt coal per year and the fuel supply pact with ntpc supports 1,000 mw capacity.

·   Zuari Agro has further upped its stake in Mangalore Chemicals . It has bought an additional 2.5 percent stake at nearly Rs 68 a share. It's total stake is at 16 percent from 13.5 percent.

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