INDIAN EQUITY MARKET STRATEGY-10 JULY 2014

INDIAN BENCHMARK have opened flat after the sharp fall in the previous two sessions even as market participants adopted a wait-and-watch stance ahead of Finance Minister Arun Jaitley's maiden Budget presentation later today.

FURTHER, ITC is likely to remain in focus after Union health minister Harsh Vardhan urged Finance Minister Arun Jaitley to raise tax on cigarettes in the upcoming final Union Budget for 2014-15 to deter people from smoking. Sebi imposed a fine of Rs10.3mn on Apollo Tyres for allegedly failing to comply with buyback regulations.

Trend in FII flows: The FIIs were net buyers of Rs 192cr in the cash segment on Wednesday while the DIIs were net sellers of Rs. 265cr, as per the provisional figures released by the NSE.

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TOP CORPORATE NEWS

·        GMR Infra, JP Associates fall after launching QIP

Shares of GMR Infrastructure and Jaiprakash Associates have declined more than 4% each after both these companies announced launch of qualified institutional placement on July 2 to raise funds.

·        HDIL to divest 100% shareholding in HDIL Entertainment

Housing Development and Infrastructure Ltd has entered into definitive agreements with respect to transfer of its 100% shareholding of its wholly owned subsidiary company, viz HDIL Entertainment.

                                                                                                        

·        Reliance Cap up 1% on plans to sell non-core assets

Shares of Reliance Capital jumped over 1 percent it is beginning the process of unlocking value from investments in non-core sectors to focus on its key financial services businesses.

·        Ranbaxy Laboratories too has gained 3.8%

Ranbaxy Laboratories has gained 3.8% to Rs 543, its highest level since November 2012 after USFDA granted approval to Ranbaxy's subsidiary Ohm Laboratories to manufacture and sell generic Diovan in the US.

TOP CORPORATE NEWS

•    Realty stocks advance on hopes of favorable announcements in Budget
Shares of nine real estate developers rose by 0.11% to 2.46% on hopes of favorable announcements for the sector in the final Union Budget 2014-15 to be unveiled on 10 July 2014.
•    TVS Motors Company records total sales of 2.02 lakh units in June 2014
TVS Motors Company recorded 23% growth in sales during the month of June 2014, with total primary sales increasing from 164,128 units recorded in the month of June 2013 to 202,177 units in the month of June 2014.                                                   
•    Reliance Communications allots equity shares
Reliance Communications announced that the QIP Committee of the Board of Directors of the Company, at its meeting held on 02 July 2014, has issued and allotted 33,82,86,197 Equity Shares of face value of Rs 5 each to the eligible Qualified Institutional Buyers at a price of Rs 142.14 per Equity Share.
•    IndusInd Bank launches online store for its customers
IndusInd Bank Ltd has launching an online store from where its customers can redeem their reward points for purchase of merchandise from an online catalogue.

INDIAN BENCHMARK started on a strong note with the Sensex and Nifty

INDIAN BENCHMARK started on a strong note with the Sensex and Nifty up 0.5% each in opening trades. The early gains were lead by financials and ITC.

FURTHER, Reliance Industries Ltd along with its partner British Petroleum is planning to invest about Rs 800 crore to carry out exploratory drilling in an offshore block in the Bay of Bengal, off the Tamil Nadu coast. Oil and Natural Gas Corp will invest over Rs 5,700 crore in redevelopment of its giant Mumbai High (North) oil and gas field off the west coast.

Trend in FII flows: The FIIs were net buyers of Rs 192cr in the cash segment on Friday while the DIIs were net sellers of Rs. 172cr, as per the provisional figures released by the NSE.

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INDIAN BENCHMARK started on a very quiet note

INDIAN BENCHMARK started on a very quiet note with the benchmark indices hovering around yesterday's close.

FURTHER, HDFC Bank seeks shareholder approval in order to raise Rs 10,000 crore in the AGM meet to be held later during the day. Reliance Communication plans to raise Rs 4,300 crore by way of a qualified institutional placement of shares and a preferential offer to promoters.

Trend in FII flows: The FIIs were net buyers of Rs 192cr in the cash segment on Monday while the DIIs were net sellers of Rs. 216cr, as per the provisional figures released by the NSE.

Nifty includes nifty future and bank nifty future

The Nifty is an indicator of all the major companies of the NSE. Research Team read stock market charts and stock chart patterns are to determine the probable strength of demand versus pressure of supply at various price levels. The result of this is to predict the probable direction in which the stock will move and where it will probably stop. We provide proper updates in our calls.

Nifty includes nifty future and bank nifty future. In this segment we provide 1 or 2 calls per day. The calls are based on technical levels. We provide intraday calls in nifty and always maintain our accuracy level.

INDIAN BENCHMARKS extend losses for third straight day.

INDIAN EQUITY BENCHMARKS ended lower for the third straight session as investors turned cautious amid tensions in Iraq even as consumer durables shares stole the limelight tracking rally in gold prices.

Further, Power Finance Corporation has received shareholders approval for raising up to Rs 44,000 crore through issue of securities in the current financial year. IFCI closed higher by 4% to Rs 39.80 after it is planning to sell its partial stake in the National Stock Exchange and entire stake in financial services arm.

The crucial resistance for Nifty is now seen at 7560 and above this 7610. Support for the immediate term is now placed at 7495 and next support will be 7465.

INDIAN BENCHMARK open on a positive note

INDIAN BENCHMARK open on a positive note after receiving encouraging data from market regulator, SEBI.

FURTHER, Tata Motors-owned Jaguar Land Rover has announced an investment of 200 million pounds at its Halewood plant in the UK to support introduction of its upcoming SUV Discovery Sport. Oil India Ltd signed an agreement with Russia's Gazprom for joint pursuit of exploration opportunities across the globe.

Trend in FII flows: The FIIs were net buyers of Rs 192cr in the cash segment on Thursday while the DIIs were net sellers of Rs. 117cr, as per the provisional figures released by the NSE.

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INDIAN BENCHMARK have started the trading session

INDIAN BENCHMARK have started the trading session on a higher note tracking firm global cues along with capital goods and software shares leading the gains.

FURTHER, Crompton Greaves rose 2.30% on reports the company has put up a part of its land parcel at LBS Marg in the eastern suburbs of Mumbai for sale. DLF has put on hold delivery of its DLF Riverside luxury project in Kochi, after Kerala government cancelled its CRZ clearance, for alleged breaches,

Trend in FII flows: The FIIs were net buyers of Rs 192cr in the cash segment on Wednesday while the DIIs were net sellers of Rs. 318cr, as per the provisional figures released by the NSE.

INDIAN BENCHMARKS ended marginally lower

INDIAN EQUITY BENCHMARKS have ended marginally lower as the Wholesale Price Index (WPI) has accelerated with Sensex and Nifty swinging between negative and positive zone. WPI inflation in May touched its highest level since December 2013 at 6.01 percent versus 5.3 percent in the previous month.

Further, ONGC may raise its stake in Cairn India's prolific Rajasthan oil fields as a condition for agreeing to allow the Anil Agarwal-group firm operate the block after expiry of contractual period. Central Bank of India rose 2.16% after the bank has fixed issue price of Rs 81.83 per share for preferential allotment of shares to LIC.

The crucial resistance for Nifty is now seen at 7550 and above this 7640. Support for the immediate term is now placed at 7485 and next support will be 7450.

WPI (Wholesale Price Index) UPDATE

The Wholesale Price Index (WPI) measures the change in the price of goods sold by wholesalers. It shows the average price changes of goods sold in bulk, and they are a group of the indicators that follow growth in the economy.

May WPI inflation at 6.01% vs 5.2%, highest level since Dec 2013.

INDIAN BENCHMARK open lower on first trading day

INDIAN BENCHMARK open lower on first trading day of the week tracking weak global cues along with capital goods shares leading the fall.

FURTHER, Apollo Tyres plans to expand the manufacturing capacity for off-highway tyres by investing about Rs.400 crore in its Kerala plant. GAIL India is planning to reduce its equity stake in ONGC's mega petrochem project at Dahej to 11.6 %.

Trend in FII flows: The FIIs were net buyers of Rs 192cr in the cash segment on Friday while the DIIs were net buyers of Rs. 358cr, as per the provisional figures released by the NSE.