INDIAN BENCHMARKS end higher…. RBI stays steady.

INDIAN EQUITY BENCHMARKS extended its upswing for the second consecutive day. The Reserve Bank of India, in its third bi-monthly monetary review for 2014-15 held today, kept the repo rate unchanged at 8%, while the reverse repo rate was remained stable at 7%.

• Further, Shares in Tata Communications ended lower by 2.5% after company has posted a net loss of Rs. (213.80) mn for the quarter ended June 30, 2014.

• Jubilant Life Sciences Limited has reported Consolidated revenue at Rs. 1,473 Crore, grew 8% YoY. International revenues at Rs. 1,051crore, contributed 71% to the overall mix.  EBITDA margins at 10.2% and PAT at 5 Crore.

The crucial resistance for Nifty is now seen at 7790 and above this 7840. Support for the immediate term is now placed at 7640 and next support will be 7595.

COMMODITY MARKET STRATEGY 05 AUGUST 2014

BASE METAL WRAP: Copper rose on Monday as a rally in China's stock markets indicated improving prospects for demand in the world's largest consumer of the industrial metal, although growing global supplies kept investors cautious.

ENERGY WRAP: West Texas Intermediate crude traded near the highest price in three days before supply data that will signal the strength of fuel demand in the U.S., the world’s biggest oil consumer. Brent in London was steady.

PRECIOUS METAL WRAP: Gold held below $1,300 an ounce as Portugal’s bailout of Banco Espirito Santo SA reduced concern the lender’s crisis may spread and tension in Gaza eased, damping demand for a haven. Silver rose from a six-week low.

GLOBAL EVENTS TO WATCH: Trade Balance, HSBC Services PMI, Cash Rate, RBA Rate Statement, Services PMI, Final Services PMI, ISM Non-Manufacturing PMI, Factory Orders m/m, IBD/TIPP Economic Optimism.

INDIAN BENCHMARKS surged ahead of RBI policy

INDIAN EQUITY BENCHMARKS surged one percent ahead of RBI policy tomorrow, recouping more than half of Friday’s losses. The rupee recovered too, up 25 paise to 60.93 a dollar compared to Friday's closing value.

·         Further, Bajaj Auto auto sales stood at 3, 19,292 units lac units in July as compared to 2,81,327 units YoY. The total motorcycle sales stood at 2, 67,841 units.

·         Indraprastha Gas Ltd has announced results for the quarter ended June 30, 2014.Net profit up 30.2% at Rs114.03 crore vs Rs87.58 crore YoY. Total Income down 3.09% at Rs876.5 crore vs Rs904.47 crore YoY.

The crucial resistance for Nifty is now seen at 7695 and above this 7715. Support for the immediate term is now placed at 7620 and next support will be 7595.

NEWS TO WATCH:

·         Watch out Quarterly Earnings of Ajanta Pharma, Bata India, Crompton Greaves, Hero Motocorp, Jubilant Life science, Tata Chemical on 5^th August 2014. 

Sensex hovers around 25,600; auto stocks gain

Rate sensitives gain ahead of RBI's policy review tomorrow

Markets were firm in early noon trades supported by gains in interest sensitives ahead of RBI's policy review tomorrow. At 1205 hrs, the Sensex was up 132 points at 25,613 and the Nifty gained 50 points to trade at 7,652.

In the broader market, the smallcap index outperformed the BSE benchmark with gains of 1%. Meanwhile, the midcap index was up 0.6%.

The rupee is trading at 60.90/91 versus Friday's close of 61.18/19, tracking losses in the dollar compared with most other Asian currencies. The pair is seen in 60.80 to 61.20 range during the session.

Sectors & Stocks

Health Care index down 0.2% was the only sectoral index in red.
Consumer Durables, Auto, IT indices were up 1-2.5%.
Banking index up 0.5% have come off day highs.
HDFC twins, Sun Pharma, Coal India, Bharti Airtel and Cipla down 0.8-1.7% were the losers among Sensex-30.

COMMODITY MARKET STRATEGY 04 AUGUST 2014

BASE METAL WRAP: London copper was a tad firmer on Monday after weak U.S. employment data soothed concerns that the Federal Reserve would soon begin to draw back liquidity that has cushioned demand for metals.

ENERGY WRAP: West Texas Intermediate crude traded near the lowest price in six months before data that will signal the strength of the economy in the U.S., the world’s biggest oil consumer. Brent was steady in London.

PRECIOUS METAL WRAP: A slew of worries fueled by U.S. and European data, Argentina's default on its debts and conflict in Ukraine and in the Middle East sent investors rushing to safe-harbor gold positions on Friday.

GLOBAL EVENTS TO WATCH: Retail Sales m/m, Construction PMI, Loan Officer Survey.

INDIAN BENCHMARKS slumps on FII selling amid weak global cues

INDIAN EQUITY BENCHMARKS slumped in late trades, amid weak global cues, on aggressive selling by institutional investors on concerns that robust US jobs data due later today may give the US Federal Reserve much needed comfort to taper its bond buying program and end its easy money policy stance by raising rates sooner-than-expected.

• Further, Maruti Suzuki surged 2.5% after the company reported 21.7% increase in its total sales for July at 1,01,380 units as against 83,299 units in the same month last year.

• Hero MotoCorp despatched 529,862 units of two wheelers in month of July 2014, registering a growth of 9% over the corresponding month of the previous year, when the Company had sold 487,545 units.

The crucial resistance for Nifty is now seen at 7715 and above this 7785. Support for the immediate term is now placed at 7595 and next support will be 7530.

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COMMODITY MARKET STRATEGY 01 AUGUST 2014

BASE METAL WRAP: London copper eased on Friday after a rout on Wall Street over Argentinian default soured risk appetite and ahead of a deluge of economic indicators out later in the session, including an assessment of activity in China's vast manufacturing sector.

ENERGY WRAP: West Texas Intermediate fell for a fifth day after capping the biggest monthly decline in more than two years amid signs of weaker fuel demand in the U.S., the world’s biggest oil consumer. Brent was steady in London.

PRECIOUS METAL WRAP: Gold headed for a third weekly loss in the longest run of declines since September as U.S. employment data may add to signs that the world’s largest economy is gaining traction.

GLOBAL EVENTS TO WATCH: Manufacturing PMI, PPI q/q, HSBC Final Manufacturing PMI, BOJ Gov Kuroda Speaks, Manufacturing PMI, Non-Farm Employment Change, Unemployment Rate, Average Hourly Earnings m/m, Core PCE Price Index m/m, Personal Spending m/m, Personal Income m/m, Final Manufacturing PMI, Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations, ISM Manufacturing PMI, Construction Spending m/m, ISM Manufacturing Prices, Total Vehicle Sales.

INDIAN BENCHMARKS snap 8 day rally… Nifty below 7800.

INDIAN EQUITY BENCHMARKS fell after hitting a record high for a third straight day as investors booked profits after majority of the quarterly earnings announced by corporate Inc disappointed.
•    Further, Colgate Palmolive India Ltd has announced results for the quarter ended June 30, 2014 net profit down 27.16% at Rs134.91 crore vs Rs185.22 crore YoY. Total Income up 9.86% at Rs963.35 crore vs Rs876.81 crore YoY.
•    The government plans to sell a 5% stake in state-run Steel Authority of India Ltd (SAIL) this fiscal year ending March.

The crucial resistance for Nifty is now seen at 7850 and above this 7880. Support for the immediate term is now placed at 7750 and next support will be 7700.

   NEWS TO WATCH:

•    Watch out Quarterly Earnings of Bank of Baroda, Dabur India, L&T, HUL, Havells India, UPL on 28TH July 2014.

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TOP CORPORATE NEWS 25 July 2014

• PNB Q1 profit beats forecast, up 10% but asset quality weak

Punjab National Bank net profit jumped 10.2 percent on yearly basis to Rs 1,405 crore on account of fall in provisions but decline in other income limited the profitability .The asset quality worsened during April-June quarter of current financial year 2014-15. The bank reported growth in profit for the first time in last four quarters.

• Shriram Transport Finance Q1 PAT drops 10% to Rs 306 cr

Shriram Transport Finance Corporation April-June quarter (Q1FY15) net profit declined by 10 percent to Rs 306 crore from Rs 341 crore in corresponding quarter of last fiscal. However, total income was up by 6 percent to Rs 2,015.8 crore from Rs 1,891.3 crore, Y-o-Y.

• UCO Bank Q1 profit up 2%, other income falls significantly

UCO Bank has reported a net profit of Rs 520 crore in the first quarter (April-June) of current financial year, increased marginally (1.7 percent) compared to Rs 511 crore in same quarter last year on account of significant fall in other income that was the reason behind fall in share price.

• Allahabad Bank Q1 net profit tanks 73% but NII rises 23%

Allahabad Bank reported a 72.7 percent decline in net profit at Rs 112.7 crore in April-June quarter (Q1FY15) compared to Rs 413 crore in same quarter last year on account of higher provisions, tax cost and fall in other income but net interest income growth was very strong.

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INDIAN BENCHMARKS hit record high on FDI hike in insurance.

INDIAN EQUITY BENCHMARKS rose to a record high for a second straight session after cabinet approval for a higher FDI limit in insurance and a reorganization in foreign debt limits reinforced optimism about the government's reform agenda.

·         Further, Wipro has announced the results for the quarter ended June 30, 2014 net profit of the company rose by 54.49% to Rs 2067.20 crore Vs Rs 1338.00 crore YoY. Total Income increased by 18.62% to Rs 10574.50 crore Vs Rs 8914.30 crore YoY.

·         Ambuja Cements has announced results for the quarter ended June 30, 2014 net profit of the company rose by 26.06% to Rs 408.70 crore Vs Rs 324.20 crore YoY. Total Income increased by 16.61% to Rs 2858.14 crore Vs Rs 2450.91 crore YoY.

The crucial resistance for Nifty is now seen at 7850 and above this 7880. Support for the immediate term is now placed at 7770 and next support will be 7750.

 

NEWS TO WATCH:

·         Watch out Quarterly Earnings of Allahabad bank, Indian Bank, Just Dial, Kalindee Rail , PNB, UCO bank, Colgate, LIC Hsg Finance, Shriram Transport Finance  25^TH July 2014.

INDIAN BENCHMARKS end at record closing highs

INDIAN EQUITY BENCHMARKS gained for the seventh straight session to end at record closing highs led by gains in technology stocks on continued foreign-investor buying.

·         Further, Mcleod Russel India has announced results for the quarter ended June 30, 2014 YoY. The Company has posted a net loss of Rs32.00 crore Vs to net profit of Rs26.21 crore YoY. Total Income has decreased to Rs119.54 crore Vs Rs191.73 crore YoY.

·         Sun TV plunged 7.07%, after attorney general Mukul Rohatgi cleared the prosecution of promoter Kalanithi Maran’s brother and former Union minister Dayanidhi Maran by the CBI.

The crucial resistance for Nifty is now seen at 7810 and above this 7850. Support for the immediate term is now placed at 7752 and next support will be 7705.

INDIAN BENCHMARKS ends higher…Sensex above 26000.

INDIAN EQUITY BENCHMARKS rose more than 1%, approaching their record highs hit earlier this month after telecom stocks surged following Idea Cellular better-than-expected earnings while stronger Asian shares also bolstered sentiments.

·         Further, Shares of Exide Industries surged over 7%, its highest level since July 2011 The company reported 16% year on year increase in net profit at Rs185 crore for the first quarter ended June 30, 2014 (Q1), due to higher realization.

·         Shares of telecom services providers such as Bharti Airtel and Idea Cellular ended higher after the telecom regulator authority of India (TRAI) recommended allowing sharing of all categories of airwaves held by operators, the move could help companies to reduce cost of mobile services.

The crucial resistance for Nifty is now seen at 7775 and above this 7800. Support for the immediate term is now placed at 7705 and next support will be 7675.

NEWS TO WATCH:

·         Watch out Quarterly Earnings of Cairn India, Yes bank, Mcleod Russel, Geometric, Liberty Shoes 23^RD July 2014.

INDIAN BENCHMARKS end higher led by RIL on robust Q1 earnings

INDIAN EQUITY BENCHMARKS gained for the fifth straight session amid encouraging first quarter earnings from index heavyweights Reliance Industries and HDFC. Meanwhile, foreign institutional investors turned focus to the broader markets where valuations are seen reasonable at current levels.

·         Further, Idea Cellular reported a 57.2 percent jump in quarterly profit, consolidated first-quarter profit was 7.28 billion rupees ($120.8 million), up from 4.63 billion rupees a year earlier.

·         HDFC reported a 14.7 percent growth, in first quarter net profit at Rs 1,345 crore compared to Rs 1,173 crore in same quarter last year.

The crucial resistance for Nifty is now seen at 7730 and above this 7800. Support for the immediate term is now placed at 7675 and next support will be 7615.

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MORNING MAIL TODAY

INDIAN BENCHMARK were trading with marginal gains led by Infosys after the IT major's first quarter numbers were in-line with expectations.

FURTHER, Infosys today reported a consolidated net profit of Rs 2,886 crore compared to Rs 2,992 crore sequentially, a decrease of 3.6%. On a y-o-y basis, the company posted a 21.6% increase in its net profit. GMR Infrastructure rose after the company has approved the issue and allotment of 46.88 crore shares to eligible qualified institutional buyers at the issue price of Rs 31.50 per share.

Trend in FII flows: The FIIs were net buyers of Rs 192cr in the cash segment on Thursday while the DIIs were net buyers of Rs. 4cr, as per the provisional figures released by the NSE.

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