Asian Shares extend recovery on earnings, China policy hopes-Sai Proficient

Asian shares rose on Wednesday on the back of firmer Wall Street earnings while expectations for increased Chinese stimulus helped take the edge off wider concerns about the worsening Sino-US trade dispute.

MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.22 percent while Japan’s Nikkei ticked up 0.05 percent.

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Asian Markets Update-Sai Proficient

Asian markets rose early on Monday, tracking gains seen on Wall Street as US bond yields receded from recent four-year highs in the last session.

Japan’s Nikkei 225 soared 292.69 points, or 1.34 percent, with technology stocks, financials and automakers higher on the day. Among index heavyweights, SoftBank Group jumped 1.79 percent and Fast Retailing rose 1.34 percent.

Elsewhere, South Korea’s benchmark Kospi added 0.42 percent while the junior Kosdaq saw more significant gains, climbing 1.05 percent in early trade.

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Indian ADRs-Sai Proficient- Sai Proficient

Indian ADRs ended mostly higher on Wednesday.

In the IT space:

Infosys gained 1.92 percent at USD 18.12 and Wipro was down 0.84 percent at USD 5.88.

In the banking space:

ICICI Bank rose 3.90 percent at USD 10.92 and HDFC Bank added 1.23 percent at USD 105.01.

In the other sectors:

Tata Motors was down 0.15 percent at USD 33.06 and Dr Reddy’s Laboratories gained 1.07 percent at USD 38.89.

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Asian Markets Update-Sai Proficient

Asian shares fell on Wednesday, taking their cues from Wall Street with investor enthusiasm toward US tax changes ebbing as the long-awaited reform bill wound its way through Congress, while higher US Treasury yields underpinned the dollar.

MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.2 percent in early trading, while Japan’s Nikkei stock index also edged down 0.2 percent.

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Asian Markets Update -Sai Proficient

Asian shares advanced on Thursday after the US Federal Reserve expressed optimism about the economy, virtually cementing the case for a year-end rate hike as investors awaited the formal nomination of the next head of the central bank.

Japan’s Nikkei stock index was up 0.2 percent, probing fresh 21-year highs and on track to gain 2.3 percent in a holiday-shortened week. Japanese markets will be closed for a national holiday on Friday.

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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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Sensex falls 150 pts, Nifty tests 10,000 banks, oil stocks drag-Sai Proficient

Equity benchmarks erased opening gains, with the Nifty testing 10,000 level due to selling pressure in banking & financials and oil stocks.

The 30-share BSE Sensex was down 143.89 points at 32,129.78 and the 50-share NSE Nifty fell 43.05 points to 10,014.35.

About two shares declined for every share rising on the BSE.

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Sensex dropped 300 points from upper levels due to GST- Sai Proficient

Recovery in American markets, mixed trade in Asian markets and setting a GST rate on 1211 items, saw a significant increase in the domestic market.

After the rise in the initial trade, selling in oil and gas, auto, IT, metal, pharma, consumer durables, capital goods and realty stocks plummeted more than 300 points from the Sensex record level.

At the moment, the Sensex has dropped 51 points to 30,384 and the Nifty is down 20 points at 9,410 levels.

Earlier, the Sensex, which gained in FMCG shares from GST Boost, rose 278 points to record at 30,712. On May 17, the Sensex made a record high of 30,691.

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These 30 stocks trade at considerable premium to book value time to exit or stay put?-Sai Proficient

The market is quick in spotting hidden gems and according to analysts, this gets reflected in stocks which are trading significantly above their book value.

Book value is an accounting measure which is calculated as total assets minus intangible assets such as patents, goodwill and liabilities.

If any stock is trading above its respective book value could be considered risk, but analysts say that market is attributing higher valuation to the future growth rate of the company.

“When stocks are trading premium to their book value means that market is ascribing significant value to its future growth. When market ascribes a higher value to future growth it encapsulates higher risks as this growth can potentially not get delivered due to a plethora of reasons.

“Though high price to book theoretically indicates higher risks, but in reality, with a cyclical upturn in macroeconomics, these companies may deliver on the growth expectations and such higher multiples may be justified in the longer term,” he said.

Top 30 stocks which continue to trade with massive premium to its book value include names like L&T Technology, HUL, Symphony, Hatsun Agro, Eicher Motors, Bombay Burmah, Blue Dart, Quess Corp, Avenue Supermart, 8K Miles, Colgate etc. among others.

Bombay Burmah has more than doubled investors’ wealth in the last one year, while Symphony rose over 20 percent in the same period, and Hatsun Agro rallied nearly 90 percent.

However, specific investment call on buying more/holding/booking profit needs to be taken in the context of overall SWOT analysis and competitive advantages of any company in question, suggest experts.

Investors should, however, be aware of changes in the risk profile of their investments all the time.

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Do not hesitate to buy on dips 5 stocks which can give up to 20% return-Sai Proficient

The Nifty took U-turn after touching its strong resistance placed around 9,200 levels earlier this week. We have seen long positions being liquidated at a higher level, which signifies traders need to be cautious at this time.

The Nifty50 registered an inverted hammer candle kind of formation on Tuesday and a Hammer like pattern on Wednesday suggesting bear are having control at the moment. The Nifty continued its losing streak for the fourth consecutive session and trading out of its rising channel pattern.

 Overall data indicate that on downside 9000PE having highest open interest suggesting strong support and the upside 9200CE having highest open interest showing strong resistance.

The Nifty also closed a day below 9,140 levels which is again a negative factor for the index. If the index is able to sustain below 9140 levels index, it will drag the markets towards 9020-9000 levels in coming sessions.

Overall, we expect Nifty to trade in a range of 9000-9275 zone and we recommend 'buy on dip' and 'sell on rise' strategy to be used for an ongoing week.

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