Sensex hits record high, but wait 10-year data suggests November belongs to bears-Sai Proficient

The Nifty50 rose to a fresh record high of 10,425, while the S&P BSE Sensex too hit a lifetime high of 33,530 on Wednesday, fuelled by strong macro data.

The S&P BSE Sensex saw its worst fall in the year 2008 when the index fell by over 12 percent, followed by the year 2011 when it saw a decline of 7.7 percent, and just last year in 2016, the index fell by a little over 5 percent.

The index rose in 3 out of the last 10 years. It rose nearly 10 percent in the year 2009, followed by 4 percent rally in the year 2012 and 3 percent gain in 2014.

The Nifty50 touched a fresh record high of 10,384.50 earlier in the week and a sustained move above 10,385 could add fuel to the momentum, till then we could see some consolidation in the month of November.

Crude oil is not trading above $60/bbl since the last few days. But, analysts are not worried and say that even crude at higher levels can be interpreted as a bullish signal for equity markets across the globe.

“The Nifty50 is hitting fresh highs on a daily basis in October which suggests that market is in a structural bull run. The index could continue its northward journey as earnings season so far has not disappointed the market,” Saurabh S Jain, MD, SSJ Finance.

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Indian ADRs: ICICI Bank, Tata Motors, Wipro gain-Sai Proficient

Indian ADRs ended mostly higher on Monday.

In the banking space

ICICI Bank rose 2.73 percent at USD 9.04 and HDFC Bank declined 1.36 percent at USD 90.68.

In the IT space

Wipro was up 1.16 percent at USD 5.24 and Infosys shed 0.73 percent at USD 14.89.

In the other sectors

Tata Motors added 1.74 percent at USD 33.33 and Dr Reddy’s Laboratories gained 0.56 percent at USD 36.15.

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Wall Street slips as Merck drops, tax talk rattles-Sai Proficient

Wall Street pulled back from record-high territory on Monday, weighed down by a drop in Merck shares and a report that US lawmakers are discussing a gradual phase-in of much-anticipated corporate tax cuts.

Market watchers pointed to declines steepening after a Bloomberg report that the House of Representatives was discussing a gradual cut in corporate tax rates over several years.

The Dow Jones Industrial Average fell 85.45 points, or 0.36 percent, to 23,348.74, the S&P 500 lost 8.24 points, or 0.32 percent, to 2,572.83 and the Nasdaq Composite dropped 2.30 points, or 0.03 percent, to 6,698.96.

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Market Live: Nifty extends gains, Sensex rises 150 pts Mid and Smallcap rally 1%-Sai Proficient

Housing finance company HDFC is expected to report profit growth of 7.4 percent year-on-year at Rs 1,962 crore for the quarter ended September 2017.

Profit in July-September quarter 2016 stood at Rs 1,826.5 crore.

Net interest income during the quarter is seen rising 14.9 percent to Rs 2,640.2 crore compared with Rs 2,297.2 crore in same quarter last fiscal, according to average of estimates of analysts.

Analysts feel if net interest margin comes above 3.75 percent, asset under management growth above 15 percent and gross non-performing assets below 1.2 percent then that will be taken positively by the Street.

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How to Trade in Nifty Futures and Options-Sai Proficient

A trader can trade in many ways in the Nifty market. They can trade in nifty cash, nifty future and nifty options. The trading in all types of equity trading can be done in form of Nifty Cash and Nifty Options. 

In the cash market the trader or the investor invests in the tocks by paying the current market prices in the market. In futures a contract is signed between the seller and buyer for a future date. Thus the market price of buying the particular entity on a future date is decided.

In case of options a put or a call option is initiated. The call is similar to buy the option and put is similar to sell the option. If the call is initiated and the market goes up the trader will incur a profit. On the other hand if the call is initiated and market goes down the trader will incur a loss.

Trading in Nifty Futures can be done by having the idea of the trend in the morning before the start of the market. The opening session of the nifty closely follows the SGX Nifty. The SGX nifty is the nifty traded in the Singapore exchange.

Thus if the SGX nifty in the morning session has seen a strict uptrend the same will be seen in Nifty and if a strong down trend is seen in the SGX nifty the same will be observed in the Indian market also.

In case there is no strong movement in any direction the trader should take the other factors in account to decide the market trend on that particular day. Thus the market movement in the early morning session decides the initial opening of the Nifty in the Indian Market. The other factors besides the SGX nifty following are the Indian rupees and Dollar exchange rate and any news of political importance.

In case the trader is new to the market, they can take the help of any Reputed Advisory Firms for the analysis of technical related to Nifty and SGX Nifty and provide adequate calls on the Nifty in the Indian Market. 

Sai Proficient Research is one such reputed advisory firm to provide support and help related to financial issues and investments. The advisory firms have expert technical analysts who on the basis of their detailed technical analysis provide accurate Stock Market Tips. One can take their demo service and once satisfied with the service they can take the paid services.   

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Nifty Outlook By Sai proficient

Indian equity markets achieved a new all time high this week with a fresh new all time high of 10366 while it closed at record levels of 10320. Bank Nifty index also added more than a 1000 points to close at 24850 levels. As Equity markets returned from festive holidays we have seen benchmark indices post best gains in last couple of months making October series as rewarding for bulls as it have been in past.

The gains were largely contributed by Indian domestic cues as one of the largest mega projects were unveiled by Indian govt worth 7 Lakh crore which aimed at boosting the overall economy while recapitalization of Banks with 2.11 Lac crore paved the way for PSU banks to post record gains. Some of the banks which were leader among the sector hit as much as 60-70% with overall delivery reaching to +85% as well. SBI, CanBank, PNB, and Bankbaroda were major gainers adding more than 1 Lac crore in value post announcement. Global cues like passing the US bill in senate was also a boosting factor for the sentiments in starting of the week.

Nifty is in uncharted territory and seems to break immediate resistances. The broader range of the markets are presently at 10200 – 10400. This particular range may expand in coming week since a lot of results will be coming out. In past week a lot of upbeat results helped market keeping the undertone bullish as well. We see immediate support at 10250 – 10200. Below that profit booking may trigger to 10130. Resistance is at 10400. breaching of same will further push market to confluence of 10500 – 10600.

Despite a recent run up we may see some profit booking in PSU banks. Auto stocks may perform well in coming week along with FMCG like marico, ITC and so on. From auto space we like Maruti, Tata Motors and motherson sumi. In coming month we may see some important numbers like IIP and WPI while results season will also affect stock specific.

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Asian stocks stall on Wall Street pullback, euro gains before ECB-Sai Proficient

Asian stocks stalled on Thursday, weighed as Wall Street shares pulled back from record highs, while the euro stretched gains ahead of a European Central Bank policy meeting at which it could take a major step away from accommodative policy.

MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.05 percent. Australian stocks dipped 0.2 percent while South Korea’s KOSPI lost 0.1 percent.

Japan’s Nikkei , which had snapped a 16-day winning run the previous day, rose 0.35 percent.

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Opening bell: Asian markets open higher; Hindustan Unilever, HCL Tech Q2 results today

US stocks end higher; Asian markets follow suit

The Dow Jones industrial average rose sharply on Tuesday on the back of strong quarterly results from 3M and Caterpillar.

Major indices in Asia rose in early Wednesday trade, following Wall Street’s stronger lead, as investors also awaited the unveiling of China’s new leadership line-up.

Rs2.1 trillion PSU bank recapitalisation plan gets nod in bid to spur investment
The finance ministry on Tuesday announced a Rs2.11 trillion recapitalisation package for state-owned banks weighed down by bad loans, seeking to stimulate the flow of credit to spur private-sector investment.

HDFC Bank Q2 net profit up 20% to Rs4,151 crore
HDFC Bank Ltd reported a 20.1% jump in its September quarter net profit due to higher net interest income and other income.

New India Assurance IPO opens on 1 November, price band at Rs770-800 per share
India’s state-run New India Assurance Co. Ltd has set a price band of Rs770-800 a share for its initial public offering (IPO) opening on 1 November.

Infosys Q2 profit rises 3.4% to Rs3,726 crore
Infosys Ltd’s net profit improved 7% to $578 million from $541 million in the June quarter, and 7.3% year-on-year, in dollar terms. In rupee terms, net profit improved 7% on a sequential basis and 3.4% year-on-year to Rs3,726 crore.

Govt to sell up to 5% in NLC, floor price at Rs94 per share
The government will sell up to 5% stake at a floor price of Rs94 apiece in mining PSU Neyveli Lignite (NLC) through a two-day offer for sale beginning on Wednesday.

Reliance Nippon AMC IPO: Rs462 crore raised from anchor investors
Reliance Nippon Life Asset Management Ltd has raised Rs462.67 crore by selling shares to institutional investors as part of its anchor book allocation, a day before its initial public offering (IPO) opens.

RBI imposes Rs2 crore penalty on IDFC Bank, Rs6 crore on Yes Bank
The Reserve Bank of India (RBI) has slapped a Rs6 crore penalty on Yes Bank Ltd for breaching its rules on classifying non-performing assets and failing to report a security incident involving its ATMs on time. Separately, RBI also imposed a Rs2 crore penalty on IDFC Bank Ltd for breaching regulations on giving loans.

Earnings corner
Emami Ltd, HCL Technologies, Hindustan Unilever and Kotak Mahindra Bank are among the companies that will be announcing their September quarter earnings on Wednesday.

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Market Live: Sensex, Nifty open higher, ONGC shares rise 3%-Sai Proficient

Mumbai: The BSE Sensex opened higher on Tuesday against the previous session’s closing. The broader NSE’s Nifty, too, rose in the morning hours. The Indian rupee strengthened marginally against the US dollar. The shares of ONGC, Hindustan Unilever, NTPC rose, whereas the shares of Hero M&M and Sun Pharma fell.

■ 9.25am: BSE Sensex opened higher by 54.57 points, or 0.17%, to 32,561.29, while the Nifty 50 gained 16.55 points, or 0.16%, to 10,201.40.

■ 9.23am: Havells India Ltd fell 2.7% to Rs527.30. The company reported a net profit of Rs171.02 crore for the quarter ended September against Rs145.79 crore a year ago. Net sales during the quarter stood at Rs1,777.36 crore against Rs1,559.33 crore in the year-ago period.

■ 9.20am: HDFC Bank Ltd rose 0.3% to Rs1,868.75 ahead of its September quarter earnings. According to 21 Bloomberg analyst estimates, the bank may report a net profit of Rs4,171.40 crore.

■ 9.17am: Infosys Ltd fell 0.2% to Rs938.50 ahead of its September quarter earnings. According to 25 Bloomberg analyst estimates, the company may post a net profit of Rs3,530.20 crore on revenue of Rs17,644.10 crore

■ 9.15am: The rupee opened at 64.97 a dollar. At 9.15am, the home currency was trading at 64.92 against the dollar, up 0.14% from its Monday’s close of 65.02.

■ 9.13am: The 10-year bond yield was at 6.791% compared to its previous close of 6.796%. Bond yields and prices move in opposite directions.

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Market Live: Sensex trims gains, Nifty slips below 10,200, Bharti Airtel shares up 3%-Sai Proficient

Mumbai: The BSE Sensex opened higher on Monday against the previous session’s closing. The broader NSE’s Nifty, too, rose in the morning hours. The Indian rupee weakened against the US dollar. The shares of Adani Ports, Bharti Airtel, Hero MotoCorp rose, whereas the shares of Axis Bank and Bajaj Auto fell.

■ 10.35am: BSE Sensex gained 45.65 points, or 0.14%, to 32,417.61, while the Nifty 50 gained 26.30 points, or 0.26%, to 10,172.85.

■ 10.30am: Tata Teleservices Maharashtra gained as much as 4.86% to Rs6.47 per share after the company’s board, in its meeting on 18 October, approved raising of additional funds upto an aggregate amount of Rs20,000 crores by issue of one or more types of the following securities/instruments/modes.

■ 10.25am: UltraTech Cement Ltd added as much as 2.33% to Rs4117.85 per share after CLSA raises target price to Rs4,900 from Rs4,700, Goldman Sachs Rs4,570 from Rs 4,490 and JPMorgan Rs4,500 from Rs4,400 for the cement maker post its quarterly results.

■ 10.00am: BSE Sensex rose 27.63 points, or 0.09%, to 32,417.59, while the Nifty 50 gained 17.40 points, or 0.17%, to 10,163.95.

■ 9.57am: Shares of Bhushan Steel gained as much as 14.43% to Rs 66.60 per share after ArcelorMittal, the world’s largest steel company, has joined the bidding race for stressed steel assets in the country by expressing interest to acquire Bhushan Steel and has submitted an expression of interest (EoI) for Bhushan Steel, which has been referred to National Company Law Tribunal (NCLT) under Insolvency and Bankruptcy Code.

■ 9.55am: Idea Cellular gained as much as 4.94% its highest in last three months after the Telecom Commission has offered a welcome relief to debt-laden telecom firms by giving them six more years to pay for spectrum purchases and lowered their interest burden.

■ 9.53am: Gayatri Projects gained as much as 3.32% to Rs 194.60 per share after NCLT, Hyderabad Bench at its hearing held on October 10 has passed an order for admission under the provisions of Insolvency and Bankruptcy code. Bharti Airtel gained as much as 2.63% to Rs 486.30 per share for second day in a row.

■ 9.50am: Bharti Airtel leads by rising 1.93% to Rs483. The stock rose as much as 2.6% to hit 52-week high at Rs486.30.

■ 9.30am: BSE Sensex opened higher by 163.89 points, or 0.51%, to 32,553.85, while the Nifty 50 rose 57.90 points, or 0.57%, to 10,204.45.

■ 9.15am: The rupee was trading at 65.10 a dollar, down 0.09% from its Wednesday’s close of 65.04. The rupee opened at 65.08 a dollar and touched a high and a low of 65.08 and 65.12, respectively.

■ 9.13am: The 10-year bond yield was trading at 6.79% compared to its previous close of 6.76%. Bond yields and prices move in opposite directions.

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