INDIAN BENCHMARKS end at Record High… Nifty closes above 8100

INDIAN EQUITY BENCHMARKS record high as software exporters such as Infosys rallied after strong US manufacturing and construction data, while continued foreign buying and falling oil prices also helped.

·         Bharti Airtel was up 3% after the company said its arm signed an agreement to acquire over 2.7 million subscribers of yuMobile.

·         Further, Shares of Tata Motors gained nearly 3%, after a slew of rating upgrades. Morgan Stanley upgrades the stock to Overweight from Equal-weight.

The crucial resistance for Nifty is now seen at 8140 and above this 8165. Support for the immediate term is now placed at 8090 and next support will be 8040.

TOP CORPORATE NEWS 06 AUGUST 2014

·        Apollo Tyres Q1 net profit jumps 37%, EBITDA disappoints

Apollo Tyres disappointed with operational performance. Net profit grew by 37.4 percent to Rs 228 crore in the quarter ended June 2014 aided by other income. Profit in the year-ago period was Rs 165.9 crore.

·        Amara Raja Batteries Q1 net up 8% on strong revenue growth

Amara Raja Batteries reporting a 8.3 percent growth in profit after tax at Rs 106 crore in April-June quarter of current financial year 2014-15 driven by higher sales growth despite higher depreciation cost. Profit in the year-ago period was Rs 97.8 crore.

·        Adani Ports Q1 net profit jumps 36% at Rs 568 cr

Adani Ports Q1FY15 (April-June) consolidated net profit jumped 36 percent at Rs 568 crore versus Rs 417.5 crore in a year ago period. The consolidated total income was down 14.6 percent at Rs 1,261.6 crore versus Rs 1,478.4 crore, Y-o-Y.

·        IDBI Bank Q1 profit falls 66% on lower other income, NII

IDBI Bank  reported  net profit in April-June (Q1FY15) quarter plunged 66 percent to Rs 105 crore on account of lower other income and net interest income but supported by lower provisions. Profit in the year-ago period was Rs 307 crore.

CS PERFORMANCE MESSAGE 06 AUGUST 2014

STOCK FUTURES:

FUTURES INTRADAY:

APOLLO TYRE FUTURES SELL CALL 3 TG

UPL LTD FUTURES BUY CALL 2 TG

DABUR INDIA FUTURES BUY CALL 1 TG

SYNDICATE BANK FUTURES SELL 1 TG

M&M FUTURES BUY CALL BOOKED AT 1249

UNION BANK FUTURES BUY CALL COST EXIT

ADANI PORT FUTURES SL TRIGGERED

PREMIUM FUTURES:

AXIS BANK FUTURES 1 TG

NIFTY FUTURES:

BANK NIFTY FUTURES SELL CALL 2 TG

OPTION:

ADANIENT 450 CALL 3 TG

OPTION PREMIUM:

STOCK CASH:

STOCK CASH INTRADAY:

INOX LESIURE BUY CALL 2 TG

LLIBERTY SHOES SELL CALL 2 TG

APOLLO TYRES SELL CALL 2 TG

AMARA RAJA BATTERIES BUY CALL COST EXIT

STOCK CASH PREMIUM:

SYNDICATE BANK SELL CALL BOOKED AT 130.50

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TOP CORPORATE NEWS 05 August 2014

·        Tata Chemicals gains after strong Q1 results

Tata Chemicals rose 1.95% after consolidated net profit jumped 133.34% to Rs 175.50 crore on 17.41% growth in total income from operations to Rs 3846.64 crore in Q1 June 2014 over Q1 June 2013.

·        Cairn may get 10-year extension for Rajasthan block

Cairn India is planning to get a 10-year extension for its license to explore and produce oil and gas from the prolific Rajasthan block.

·        Ajanta Pharma tumbles after Q1 earnings

Ajanta Pharma slumped 9.22% after net profit surged 80% to Rs 59 crore on 32% growth in revenue from operations to Rs 287 crore in Q1 June 2014 over Q1 June 2013.

·        Bajaj Auto receives order for 40,000 Discovers from Sri Lanka

Bajaj Auto has received an order for 40,000 Discover motorcycles from the Sri Lanka government. The management expects the exports which stood at 1.69 lakh for the month of July to rise to between 1.85 to 1.90 units in the coming few months.

Top Corporate News 04 August 2014

• Petronet LNG Q1 net profit at Rs1566mn

Petronet LNG Ltd has posted a net profit of Rs. 1566.00 mn for the quarter ended June 30, 2014 as compared to Rs. 2253.20 mn for the quarter ended June 30, 2013.Total Income has increased from Rs. 84594.40 mn for the quarter ended June 30, 2013 to Rs. 101961.40 million for the quarter ended June 30, 2014.

• Ipca Laboratories Q1 net profit at Rs1454.90 mn

Ipca Laboratories Ltd has posted a net profit of Rs. 1454.90 mn for the quarter ended June 30, 2014 as compared to Rs. 717.70 million for the quarter ended June 30, 2013. Total Income has increased from Rs. 8100.10 million for the quarter ended June 30, 2013 to Rs. 9422.50 million for the quarter ended June 30, 2014.

• OBC turns volatile after Q1 results

Oriental Bank of Commerce rose 0.73% after net profit rose 3.15% to Rs 364.54 crore on 6.09% growth in total income to Rs 5576.02 crore in Q1 June 2014 over Q1 June 2013.

• Tata Power slips in volatile trade

Tata Power Company slipped 0.37%, with the stock reversing initial gain triggered by the company's subsidiary deciding to repay bonds worth $450 million ahead of its due date.

TOP CORPORATE NEWS

·        Union Bank zooms on strong quarterly results

Union Bank of India surged 7% after the company posted 19% rise in the net profit at Rs 664 crore for the quarter ended June 30, 2014 as against Rs 560 crore for the same period last year.

·        DLF Q1 net profit at Rs1277.70 mn

DLF Ltd has posted a net profit/(loss) after taxes, minority interest and share in profit/(loss) of associates of Rs. 1277.70 mn for the quarter ended June 30, 2014 as compared to Rs. 1811.90 mn for the quarter ended June 30, 2013.

·        HDIL Q1 net profit at Rs56.7 crores

HDIL has announced its results for Q1 ended 30th June 2014. Consolidated Total Income stands at Rs. 256.13 crores and PAT available for appropriation is Rs. 56.7 crores.

·        JSW Steel Q1 net profit at Rs. 8bn

JSW Steel Ltd has announced the result for the quarter ended June 30, 2014. Total Income has increased from Rs. 94304.10 million for the quarter ended June 30, 2013 to Rs. 116443.40 million for the quarter ended June 30, 2014

COMMODITY MARKET STRATEGY 31 JULY 2014

BASE METAL WRAP: London copper was underpinned on Thursday by indications that the U.S. Federal Reserve is not hurrying to raise interest rates, even as the world's top economy logged robust second quarter growth that brightened the outlook for demand.

ENERGY WRAP: West Texas Intermediate crude dropped to a two-week low after a government report showed that U.S. gasoline supplies gained as demand slipped.

PRECIOUS METAL WRAP: Gold retreated for a fourth day to head for a monthly decline as further signs that the U.S. recovery is gaining momentum strengthened the case for higher borrowing costs in the world’s largest economy.

GLOBAL EVENTS TO WATCH: Building Approvals m/m, CPI Flash Estimate y/y, Challenger Job Cuts y/y, GDP m/m, Unemployment Claims, Employment Cost Index q/q, Chicago PMI, Natural Gas Storage.

Post by Palak Mishara.

COMMODITY MARKET STRATEGY 30 JULY 2014

BASE METAL WRAP:  

Copper prices slipped on Tuesday, as prospects of growing supplies overshadowed encouraging signs of health in the global economy, and zinc retreated after hovering near three-year highs on expectations of a tightening market.

ENERGY WRAP: 

West Texas Intermediate crude traded near the lowest price in two weeks before government data that may signal the strength of fuel consumption in the U.S., the world’s biggest oil user. Brent fell in London.

PRECIOUS METAL WRAP: 

Gold traded near the lowest level this week and was poised for a monthly decline as signs that U.S. economic growth is gaining momentum countered haven demand from increased tension in Ukraine and Gaza.

GLOBAL EVENTS TO WATCH: 

German Prelim CPI m/m, ADP Non-Farm Employment Change, Advance GDP q/q, Advance GDP Price Index q/q, Crude Oil Inventories, FOMC Statement, Federal Funds Rate.

Markets open flat; L&T down over 6%

ITC, Bharti Airtel, Infosys and Reliance Industries among the top gainers

After opening in red, the benchmark indices moved into the green territory on account of gains in heavyweights like ITC, Bharti Airtel, Infosys and Reliance Industries.

At 0920 hrs, the Sensex was up nine points at 25,999 and the Nifty was unchanged at 7749.

The broader markets were flat with a positive bias.

Sectors & Stocks

On the sectoral front, Capital Goods index was the top loser down 4% along with Realty and Metal indices down 0.4% each.
A 6% cut on L&T dragged the capital goods index lower as the performance of engineering and construction major’s core business in the June quarter disappointed the Street, as execution remained weak in the domestic business.
Apart from L&T, Sesa Sterlite, Hindustan Unilever, Tata Steel, BHEL, Maruti Suzuki and Sun Pharma were some of the notable names in red, down 0.2-2%.
Among the gainers was Bharti Airtel up 4% after reporting 61% year-on-year jump in consolidated net profit at Rs 1,108 crore for the first quarter.

COMMODITY MARKET STRATEGY 28 JULY 2014

BASE METAL WRAP: 

Copper dropped for a second day after Freeport-McMoRan Inc. received approval from Indonesia to resume exports from its Grasberg mine.

ENERGY WRAP: 

West Texas Intermediate crude fell for the fourth time in five days amid speculation that economic data may signal slowing growth in the U.S., the world’s biggest oil consumer. Brent also dropped in London.

PRECIOUS METAL WRAP: 

Hedge funds increased their bets on a gold rally, just before prices fell for a second week as an accelerating U.S. economy outweighed concern that violence between Russia and Ukraine will escalate.

GLOBAL EVENTS TO WATCH: 

Flash Services PMI, Pending Home Sales m/m.

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COMMODITY MARKET STRATEGY 25 JULY 2014

BASE METAL WRAP: Copper futures rallied to a more than one-week high on Thursday, as investors cheered better than expected manufacturing data out of China, the world’s largest consumer of the red metal.

ENERGY WRAP: West Texas Intermediate headed for the third weekly decline this month amid speculation that rising U.S. gasoline stockpiles signal reduced demand in the world’s biggest oil consumer. Brent was steady in London.

PRECIOUS METAL WRAP: Gold headed for its second straight weekly decline as the outlook for improving economic growth curbed demand for the precious metal as a haven.

GLOBAL EVENTS TO WATCH: ANZ Business Confidence, German Ifo Business Climate, Prelim GDP q/q, Core Durable Goods Orders m/m, Durable Goods Orders m/m.

COMMODITY MARKET STRATEGY 24 JULY 2014

BASE METAL WRAP:  

Copper climbed for a fourth day, the longest rally in three weeks, on better-than-expected manufacturing data from China, the world’s largest user of industrial metals.

ENERGY WRAP: 

West Texas Intermediate swung between gains and losses after U.S. government data showed crude supplies at the delivery point for New York contracts shrank to the lowest level since 2008. Brent was steady in London.

PRECIOUS METAL WRAP: 

Gold fell to the lowest level in a week as a rally in equities damped demand for an alternative investment amid concern that physical consumption is faltering.

GLOBAL EVENTS TO WATCH:  

Official Cash Rate, RBNZ Rate Statement, Trade Balance, HSBC Flash Manufacturing PMI, French Flash Manufacturing PMI, German Flash Manufacturing PMI, Retail Sales m/m, Unemployment Claims, Flash Manufacturing PMI, New Home Sales, Natural Gas Storage.

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COMMODITY MARKET STRATEGY 23 JULY 2014

BASE METAL WRAP: 

Zinc and aluminium prices hit their highest in more than a year as investors sought exposure to commodities with improved fundamentals, but copper's gains were curbed by worries over China's property sector and over a build-up of stocks.

ENERGY WRAP: 

West Texas Intermediate crude fell for a second day after an industry report showed gasoline supplies expanded in the U.S., the world’s biggest oil consumer. Brent was steady in London.

PRECIOUS METAL WRAP: 

Gold traded below the highest level in more than three months as investors assessed U.S. economic data that strengthened the dollar and boosted equities, damping demand for an alternative investment.

GLOBAL EVENTS TO WATCH:  

CPI q/q, MPC Asset Purchase Facility Votes, MPC Official Bank Rate Votes, BOE Gov Carney Speaks, Core Retail Sales m/m, Crude Oil Inventories.

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COMMODITY MARKET STRATEGY 22 JULY 2014

BASE METAL WRAP:  

Aluminum entered a bull market in London and traded near the highest in 16 months on speculation demand will exceed supply for the metal used in everything from cars to packaging.

ENERGY WRAP: 

West Texas Intermediate rose for a second day before stockpile data that may signal the strength of fuel demand in the U.S., the world’s biggest oil consumer. Brent also increased in London. Natural gas futures slipped in New York to the lowest price in more than seven months as meteorologists predicted mild weather, which would curtail demand from power plants and help narrow a stockpile deficit.

PRECIOUS METAL WRAP: 

Gold traded below the highest level in more than three months as the dollar strengthened amid the outlook for higher U.S. borrowing costs, countering haven demand fueled by tension in Ukraine and Gaza.

GLOBAL EVENTS TO WATCH: 

Core CPI m/m, CPI m/m, HPI m/m, Existing Home Sales, Richmond Manufacturing Index, CPI q/q, Trimmed Mean CPI q/q.

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COMMODITY MARKET STRATEGY 21 JULY 2014

BASE METAL WRAP: London copper held near its lowest in three weeks on Monday, hemmed in by nagging worries over China's property sector and a big Chinese stock build that highlighted an expected market surplus in the second half.

ENERGY WRAP: Brent swung between gains and losses amid speculation that the downing of a Malaysian Air jet will have no impact on supplies from Russia, the world’s largest energy exporter. West Texas Intermediate was steady in New York. Natural gas futures in the U.S. dropped for a third day to the lowest level in almost eight months as inventories rebounded at the quickest rate since 2001.

PRECIOUS METAL WRAP: Gold traded little changed after the first weekly loss in seven as investors weighed the outlook for higher U.S. borrowing costs against demand for a haven amid unrest in Ukraine and Gaza. Palladium was near a 13-year high.

GLOBAL EVENTS TO WATCH: German PPI m/m.