INDIAN BENCHMARKS edge higher… power and capital goods drive the rally

INDIAN EQUITY BENCHMARKS maintained its momentum supported by heavy buying in financials, infra and power shares amid strong global cues. Fiscal deficit figures for the month of May and auto numbers for the month of June will be announced today.

Further, Ranbaxy rose 3% extending its Friday’s 5% rally, after US Food and Drug Administration's nod for generic version of Novartis blood pressure drug Diovan. Cipla surged 0.8% after signing a definitive agreement to acquire a 51% stake in a pharmaceuticals manufacturing and distribution business in Yemen (owned by a UAE-based parent company) for $21 million.

The crucial resistance for Nifty is now seen at 7625 and above this 7665. Support for the immediate term is now placed at 7530 and next support will be 7480.

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INDIAN BENCHMARKS end flat, amid choppy trade.

INDIAN EQUITY BENCHMARKS ended flat, amid a choppy trading session, as investors turned cautious on concerns that the weak monsoon would further accelerate inflation while the continuing crisis in Iraq also weighed on sentiment.

Further, Reliance Capital ended up 1.7% on a report that Japan's Sumitomo Mitsui Trust Holdings Inc may buy 10% stake in the Anil Ambani-owned company by paying $400 million for new shares. Dr Reddy's Labs closed 1.7% higher after the pharma major launched duloxetine delayed-release capsules USP 20 mg, 30 mg and 60 mg in the US market.

The crucial resistance for Nifty is now seen at 7570 and above this 7595. Support for the immediate term is now placed at 7480 and next support will be 7440.

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INDIAN BENCHMARKS end lower ahead of June F&O expiry

INDIAN EQUITY BENCHMARKS ended lower as investors turned cautious and booked profit ahead of the expiry of June F&O series tomorrow even as auto stocks firmed up in late trades on reports that the lower excise duty on auto and capital goods has been extended till December.

Further, DLF ended down 1% on the back of fair trade regulator CCI ordering a fresh probe against the company. Shares of Maruti Suzuki was up 3% after Finance minister Arun Jaitley said that the excise duty on automobiles was extended to a further period of six months.

The crucial resistance for Nifty is now seen at 7590 and above this 7660. Support for the immediate term is now placed at 7515 and next support will be 7450.

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COMMODITY MARKET UPDATE 25 JUNE 2014

BASE METAL WRAP:  

Nickel fell to a one-week low in London as rising stockpiles signaled ample supplies. Inventories monitored by the London Metal Exchange rose 0.3 percent to 305,388 metric tons, within 0.2 percent of an all-time high reached last week.

ENERGY WRAP: 

West Texas Intermediate crude gained for the first time in three days after the Wall Street Journal said the Obama administration is clearing the way for some exports of ultra-light U.S. oil.

PRECIOUS METAL WRAP: 

Gold declined as investors weighed the outlook for the U.S. economy against speculation that a rally to the highest level in two months may spur sales.

GLOBAL EVENTS TO WATCH: 

Core Durable Goods Orders m/m, Final GDP q/q, Durable Goods Orders m/m, Final GDP Price Index q/q, Flash Services PMI, Crude Oil Inventories.

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.

INDIAN BENCHMARKS rose, snapping a four-day losing streak.

INDIAN EQUITY BENCHMARKS rose over 1 percent, snapping a four-day losing streak led by gains in the realty, oil and gas, power, capital goods and banking stocks.

Further, IRB Infrastructure Developers edged higher by 5% after the company has entered into a pact with National Highways Authority of India for an Rs 2,300 crore project for widening of a highway stretch in Haryana under National Highways Development Project. SAIL is likely to exit the Rs 35,000-crore revival project of the Sindri fertiliser plant in Jharkhand due to inordinate delay in land acquisition.

The crucial resistance for Nifty is now seen at 7610 and above this 7660. Support for the immediate term is now placed at 7495 and next support will be 7465.

COMMODITY MARKET UPDATE 24 JUNE 2014

BASE METAL WRAP:  

Copper dropped for the first time in eight days on signs of slowing demand in China, the biggest consumer, amid a probe into possible fraud involving metals stockpiled at Qingdao Port.

ENERGY WRAP: 

Natural gas futures dropped to a four-week low in New York on speculation that a spell of mild weather will cause bigger-than-average stockpile gains. Brent dropped for a third day and West Texas Intermediate declined amid speculation that Iraqi oil production wont be disrupted by escalating violence in OPEC’s second-largest producer.

PRECIOUS METAL WRAP: 

Gold prices dipped Tuesday in Asia on profit taking with a mix of geopolitical uncertainty over Iraq and continued easy policy offering support triggers.

GLOBAL EVENTS TO WATCH:  

German Ifo Business Climate, Inflation Report Hearings, FOMC Member Plosser Speaks, S&P/CS Composite-20 HPI y/y, HPI m/m, CB Consumer Confidence, New Home Sales, Richmond Manufacturing Index, Treasury Sec Lew Speaks.

INDIAN BENCHMARK open marginally in green following weak global cues.

INDIAN BENCHMARK open marginally in green following weak global cues. Bharti Airtel Ltd has announced that the Company has signed the definitive agreement with Loop Mobile (India) Limited.

FURTHER, Ceat is likely to extend its gains after the overseas investor has bought equity shares worth of Rs 13 crore of the company though open market. ITC Ltd are likely to extend its losses on reports that the government may raise taxes on cigarettes aggressively in the upcoming budget in July.

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. 117cr, 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.

COMMODITY MARKET UPDATE 23 JUNE 2014

BASE METAL WRAP: Copper advanced for a seventh day as a private gauge of Chinese factory output beat economist estimates, boosting demand prospects in the biggest user.

ENERGY WRAP: West Texas Intermediate rose for a third day and Brent gained as militants in Iraq seized more territory and President Barack Obama warned that the crisis may spill over into other countries.

PRECIOUS METAL WRAP: Gold fell for a second day on signs that a rally to a two-month high damped physical and investment demand. Platinum and palladium declined amid expectations that striking miners in South Africa may return to work this week.

GLOBAL EVENTS TO WATCH: HSBC Flash Manufacturing PMI, BOJ Gov Kuroda Speaks, French Flash Manufacturing PMI, German Flash Manufacturing PMI, Flash Manufacturing PMI, Existing Home Sales.

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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