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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INDIAN EQUITY MARKET STRATEGY- 23 JULY 2014

INDIAN BENCHMARK opened on a strong note with the Nifty starting to its all time high of a over 7,800.

FURTHER, Syndicate Bank plans to raise Rs 1,100 crore through a qualified institutional placement in the current financial year. KPIT Technologies reported a 17.1% rise in the Q1 net profit at Rs33.5 crore from Rs28.6 crore in the corresponding period previous year. On a sequential basis, net profit declined by 26.6%.

Trend in FII flows: The FIIs were net buyers of Rs 192cr in the cash segment on Monday while the DIIs were net buyers of Rs. 59cr, as per the provisional figures released by the NSE.

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.

CS PERFORMANCE MESSAGE

STOCK FUTURES:

FUTURES INTRADAY:

SYNDICATE BANK FUTURES SELL CALL 3 TG

IDEA FUTURES BUY CALL 2 TG

EXIDE INDUSTRIES FUTURES BUY CALL 1 TG

HINDALCO FUTURES BUY CALL 1 TG

ASIAN PAINTS FUTURES BUY CALL 1 TG (BOOKED AT 609)

PREMIUM FUTURES:

TATA MOTORS FUTURES BUY CALL COST EXIT

NIFTY FUTURES:

NIFTY FUTURES BUY CALL 3 TG

BANK NIFTY FUTURES SELL 1 TG

OPTION:

EXIDE INDUSTRIES 160 CALL 2 TG

BIOCON 500 CALL BUY CALL 2 TG

TATA MOTORS 480 CALL BUY CALL 1 TG

NIFTY 7900 PUT BUY CALL 1 TG

OPTION PREMIUM:

HINDALCO 180 CALL BUY CALL SL TRIGGERED

STOCK CASH:

STOCK CASH INTRADAY:

SKS MICRO FINANCE SELL CALL 2 TG

RELIANCE INDUSTRIES BUY CALL 1 TG

GEOMETRIC BUY CALL 1TG

TEXMACO RAIL SELL CALL BOOKED AT 90.45

STOCK CASH PREMIUM:

HDIL SELL CALL 1 TG

EXIDE INDUSTRIES BUY CALL 1 TG (BOOKED AT 169.95)

TOP CORPORATE NEWS

• Asian Paints Q1 profit rises 23% on strong revenue, EBITDA

Asian Paints reported slightly better-than-expected earnings on top line as well as bottom line fronts while operational performance was very strong led by increase in product prices despite higher raw material cost. Consolidated net profit grew 23.2 percent on yearly basis to Rs 338.7 crore on total income of Rs 3,362 crore.

• Ceat skids post June quarter results

Ceat has falling nearly 12% after reporting 21% year on year decline in consolidated net profit at Rs 52 crore for the first quarter ended June 30, 2014, due to higher expenditure.

• Axis Bank Q1 profit rises 18%, asset quality disappoints

Axis Bank reported a 18.3 percent growth in net profit at Rs 1,667 crore for the quarter ended June 2014 compared to Rs 1,703 crore in same quarter last year, which was lower than expectations of 21 percent growth due to lower other income and higher operating expenses despite significant fall in provisions.

• Hexaware Tech Q1 PAT at Rs765mn

Hexaware Technologies Ltd has posted results for the first quarter ended 30th June, 2014. The net profit for the quarter stood at Rs765mn. The net sales stood at Rs610crore for Q1. EBITDA margin for the quarter was 16.7%. EBIT margin at 14.9%.