Sensex, Nifty continue to struggle; infra, metal, Auto down

 

Tata Steel, Hindalco, Vedanta, Tata Motors and L&T are major laggards while Maruti, Sun Pharma, NTPC, HUL and ITC are top gainers in the Sensex.

The market continues to struggle as capital goods, metals and auto stocks are down. The Sensex is down 63.88 points at 25792.82. The Nifty is down 27.80 points at 7844.45. About 967 shares have advanced, 1011 shares declined, and 95 shares are unchanged.

Buzzing:

Shares of Bharat Forge slipped 5 percent intraday. Bank of America Merill Lynch has slashed target price by 16 percent to Rs 900 per share as weaker demand drives de-rating. The brokerage has also cut FY17 earnings per share (EPS) by 6 percent stating weaker exports and non-auto will hurt mix and margin. BoAML says weaker non-auto demand led by oil & gas sector and cyclical slowdown in the US heavy truck market in 2016 are key concerns for the company. In 1QFY16, non-auto declined 15 percent Q-o-Q and grew only 4 percent Y-o-Y, substantially lower than the 52 percent growth in FY15.

Gold edged down to just above a one-month low, as European stocks rose ahead of a Federal Reserve policy meeting that will be scrutinized for clarity on when the US central bank will raise interest rates.

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Sensex, Nifty in red; Cipla, Bharti, Dr Reddy’s Labs fall

 GAIL, NTPC, ICICI Bank, Hindalco and Tata Steel are top gainers in the Sensex. Among the losers are HUL, Cipla, Dr Reddy's Labs and Bharti Airtel.

The market has again slipped into red after comfortably placed in green for sometime in early trade. The Sensex is down 40.55 points or 0.2 percent at 24853.26 and the Nifty is down 8.20 points or 0.1 percent at 7550.60. About 661 shares have advanced, 1457 shares declined, and 90 shares are unchanged.

Oil prices remained weak as the global economic outlook darkened further and cooperation between oil producing countries to curb oversupply looked unlikely. Oil prices have fallen almost 60 percent since June 2014 on a global supply glut, with prices seesawing in recent weeks as concerns about a slowing Chinese economy caused turmoil in global stock markets.

Trading gathers steam. The Sensex is up 58.73 points or 0.2 percent at 24952.54 and the Nifty is up 17.65 points or 0.2 percent at 7576.45. About 747 shares have advanced, 1304 shares declined, and 82 shares are unchanged.

 

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Sensex, Nifty Remain Sluggish; SBI, BHEL, NTPC drag 2%

TCS, ITC, Lupin, Reliance and Infosys are top gainers. Among the losers are BHEL, NTPC, Axis Bank, Hero and SBI are losers in the Sensex.

The market continues to remain flat after early gains. The Sensex is up 14.73 points at 25711.17 and the Nifty is up 7.80 points or 0.10% at 7793.65. About 1205 shares have advanced, 842 shares declined, and 79 shares are unchanged. TCS, ITC, Lupin, Reliance and Infosys are top gainers. Among the losers are BHEL, NTPC, Axis Bank, Hero and SBI are losers in the Sensex.

Gold edged lower after a four-day advance that had been fuelled as uncertainty over the fate of China's economy hit global equities. Asian shares slipped after weak manufacturing activity reports from both the US and China sent Wall Street reeling, while the dollar steadied after steep losses. All eyes will be on Friday's US nonfarm payrolls with economists saying strong employment growth in August could help cement expectations that the Fed will raise interest rates for the first time in nearly a decade at its next meeting on Sept. 16-17.
 

One of the reasons why many private sector banks had been enjoying premium valuations in the last few years was because of limited competition, feels Ajay Srivastava of Dimensions Consulting. With the entry of payment banks, more banks will have to cut their interest rates to protect market share, and this could lead to a shrinking of the juicy valuations, Srivastava tells CNBC-TV18. 








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Nifty struggles below 8500; Midcap, Smallcap outperform

Oil prices resumed their decline in Asia as a global glut of crude supplies showed no signs of abating in the face of sluggish demand, analysts said. US benchmark West Texas Intermediate (WTI) for September delivery fell 63 cents to USD 41.87 a barrel in late-morning trade, the lowest since March 2009. Brent crude for October, a new contract, was down 65 cents to USD 48.54. WTI and Brent's September contract rose in New York on Friday after closing at their lowest level in six and a half years in the prior session. But oil came under renewed pressure in Asia after the latest data showing the number of rigs drilling for US oil increased last week, the sixth rise in seven weeks, analysts said. The news added to fears of a prolonged global surplus as output from the Organization of the Petroleum Exporting Countries and the US remains robust despite the tumbling prices. 10:00 am Market Check The market remained under pressure in morning trade, dragged by profit booking in private banking & financials, technology and oil stocks. The rupee, too, see selling pressure, down 21 paise ot 65.21 a dollar. The Sensex fell 247.64 points or 0.88 percent to 27819.67 and the Nifty declined 62.60 points or 0.73 percent to 8455.95. However, the broader markets outperformed benchmarks, trading flat. Cipla topped the selling list, falling 4 percent on fears that Esomeprazole sales may slow down from Q2FY16 onwards. However, its Q1 numbers were strong, led by Esomeprazole sales. Shares of HDFC declined 1.7 percent. The housing finance company said it would sell 17.95 crore of HDFC Life to Standard Life at Rs 95/share (9 percent equity). Post stake sale in HDFC Life, company’s holding in HDFC Life will be 61.65 percent and Standard Life will hold 35 percent in HDFC Life. Infosys, Reliance Industries, ONGC, Tata Motors and Axis Bank dropped 1-3 percent while PSU banks continued to see buying interest after the government launche revamp plan 'Indradhanush' for PSU banks.

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Sensex is up 144.42 points or 0.5 percent at 27656.68

The devaluation of the yuan should not be seen as a sign of China wanting to wage a currency war, but it is more to do with China's ambitions to facilitate yuan's inclusion in Special Drawing Rights (SDR), says Dennis Tan, Fx Strategist, Barclays. He adds that it should be seen more as a liberalisation or a reform measure to improve he fixing mechanism so that it reflects the market rates. 11:40 am Market check: The Sensex is up 144.42 points or 0.5 percent at 27656.68 and the Nifty is up 44.05 points or 0.5 percent at 8393.50. About 1347 shares have advanced, 1073 shares declined, and 127 shares are unchanged. Cipla, Bharti Airtel, Lupin, Cipla, SBI and Coal India are top gainers in the Sensex. Among the losers are Vedanta, Tata Steel, Hindalco, GAIL and Wipro. 11:30 am Nestle India: Bombay High Court has set aside FSSAI order banning Maggi noodles. However, Nestle will not manufacture or sell Maggi till testing is completed. The stock is up 5 percent. Don't miss: India's rates too high; will draw hot money amid falling yuan: Fin Secy The market has bounced back after four days of losses led higher by the bank Nifty as global markets stabilised and sentiment is boosted by the CPI data for July that came in much better than estimates at 3.78 percent versus 5.4 percent in June. Rupee, however, slipped to the day's low after a decent start. The Sensex is up 129.66 points or 0.5 percent at 27641.92, and the Nifty up 38.25 points or 0.5 percent at 8387.70. About 1311 shares have advanced, 980 shares declined, and 117 shares are unchanged. Bharti Airtel, Cipla, Lupin, SBI and Hero MotoCorp are top gainers in the Sensex. Among the losers are Tata Steel, Vedanta, GAIL, Hindalco and Wipro. China's central bank said that there was no basis for further depreciation in the yuan given strong economic fundamentals, in a bid to reassure jittery global markets after it devalued the currency earlier in the week. As the yuan fell for the third straight day, the People's Bank of China (PBOC) said the country's strong economic environment, sustained trade surplus, sound fiscal position and deep foreign exchange reserves provided "strong support" to the exchange rate. China's decision to devalue the currency on Tuesday by pushing its official guidance rate down 2 percent sparked fears of a "currency war" and roiled global financial markets, dragging other Asian currencies to multi-year lows.

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Nifty index opened up at 8470.60 with +10.95 points

India Indices- On Tuesday market day Nifty index opened up at 8470.60 with +10.95 points from the previous day closing at 8459.65 and closed negative at 8454.10. At the opening we saw selling in Nifty Index near 11.30 O’ Clock Nifty Index traded with day low of 8424.10 after noon Nifty moved up with continuous buying but closed negative at 8454.10 with -0.07%, -5.55 points down.And the full day Nifty Index traded between 8480.25-8424.10. At the end of the day Nifty futures Loosed -0.19%, -16.05 points down to close at -8465.90 from the previous day closing at 8481.95 with premium of 11.80 points and percent change in open interest of +1.08%.

 

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Weekly Derivative Future Roundup for the Week Ended

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CNX NIFTY 

In the weekly chart Nifty Futures opened at 8844.40 with +9.40 points upward from the last week ending at 8835.00, From the opening of the week we saw constantly buying in Nifty, last week we saw aggressive movement in Nifty Futures, On Monday market day Nifty Futures opened with weekly low-lying of 8827.40 and on Friday market Nifty Futures traded with weekly and lifetime maximum of 9029.50 and ended positive at 8887.50 with +52.50 points upward from the previous week ending at 8835.00. In which we saw top weekly Gained in BPCL with +10.98 percent, +74.10 Rs change, and HCL-TECH with +8.81 percent, +145.10 Rs change, and top weekly Loosed in BANK OF BARODA with -13.42 percent, -29.95 Rs Changes, and COAL INDIA with -8.58 percent, -33.85 Rs change.

Bank Nifty Index opened downward at 19170.15

Bank Nifty Index opened downward at 19170.15 with -3.85 points from the last day of ending at 19174.00 and ended negative at 19051.90. From the opening we saw constantly buying in Bank Nifty Index and near 2 o’clock Bank Index traded with day max of 19444.65 but till ending Bank Index slided downward with constantly selling and ended negative at 19051.90 with day low-lying of 18977.90 with -0.64 percent, -122.10 points downward and the full day Bank Nifty Index traded between 19444.65 to 18977.90. At the end of the market day Bank Nifty futures Loosed -0.70 percent, -135.85 points downward to end at 19148.85 for the last day ending at 19284.70 with premium of +96.95 points and percent change in open interest of -7.47 percent.

Bank Nifty Index opened Down at 19778.95

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Bank Nifty Index opened down at 19778.95 with 64.80 points downward from the last day of ending at 19843.75 and ended positive at 19865.90. Bank Nifty Index opened downward and near 12 o’clock Bank Index traded with day low-lying of 19564.50 but after noon Bank Nifty regained with ceaseless buying and ended positive at 19865.90 with +0.11 percent, +22.15 points upward with day max of 19991.40 and the full day Bank Nifty Index traded between 19991.40 to 19564.50. At the end of the market day Bank Nifty futures Gained profit of +0.45 percent, +89.65 points upward to end at 20085.00 from the last day of ending at 19995.35 with premium of 219.10 points and percent change in open interest of +16.76 percent.

Weekly Bank Nifty updates for 2 feb 2015

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In Bank Nifty full week we saw hyper moment, Bank Nifty Futures opened at 20119.30 with +16.40 points upward from the last week of ending 19102.90. At the opening of the week we saw hyper volatility in Bank Nifty Futures, On Monday market Bank Nifty futures opened with weekly low-lying of 19891.30 and on Wednesday market Bank Nifty Futures traded with weekly and lifetime maximum of 20934.00 and on Friday market Bank Nifty slid downward and ended at 20003.05 and at the end of the market week Bank Nifty ended negative with -99.85 points. In which we saw top weekly Loosed in BANK BARODA with -13.42 percent, -29.95 Rs. change and BANK INDIA with -9.53 percent, -28.05 Rs. change and the top weekly Gained profit in AXIS BANK with +4.06 percent, +22.95 Rs. change and HDFC BANK with +3.31 percent, +34.55 Rs. Change.

Bank Nifty Index Opened Down at 20475.70

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Bank Nifty –At 20475.70 with -16.05 points downward Bank Nifty Index opened down from the last day of ending at 20491.75 and ended positive at 20528.60. Bank Nifty Index opened downward with day low-lying of 20338.95 and moved upward with constantly buying and near ending of the market Bank Nifty Index traded with day max of 20579.00 and ended positive at 20528.60 with +0.18 percent, +36.85 points upward and the full day Bank Nifty Index traded between 20579.00 to 20338.95. At the end of the market day Bank Nifty futures Gained profit of +0.25 percent, +50.80 points upward to end at 20531.05 from the last day of ending at 20480.25 with premium of 2.45 points and percent change in open interest of -26.50 percent.

Bank Nifty Index Opened Downward at 20507.50

Bank Nifty Index opened downward at 20507.50 with -47.75 points down from the last day of ending at 20555.25 and ended negative at 20491.75. Bank Index opened with day low-lying of 20435.00 and moved upward with constantly buying and near 12.15 O’clock Bank Nifty traded with lifetime max of 20907.55 at this level Bank Nifty slide downward with constantly selling and ended negative at 20491.75 with -0.31percent, -63.50 points downward and the full day Bank Nifty Index traded between 20907.55 to 20435.00. At the end of the market day Bank Nifty futures Loosed -0.67 percent, -136.95 points downward to end at 20451.50 for the last day of ending at 20588.45 with discount of -40.25 points and % change in open interest of -3.61 percent.

Bank Nifty Index opened up at 20179.80

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At 20179.80 with +107.10 points upward Bank Nifty Index opened up for the last day ending at 20072.70 and ended positive at 20555.25. Bank Index opened with day low-lying of 20098.25 and moved upward with constantly buying and near ending of the market Bank Nifty traded with lifetime max of 20609.25 and ended positive at 20555.25 with +2.40 percent, +482.55 points upward and the full day Bank Nifty Index traded between 20609.25 to 20098.25. At the end of the market day Bank Nifty futures Gained profit of +2.26 percent, +455.70 points up to end at 20575.00 for the last day ending at 20119.30 with premium of +19.75 points and percent change in open interest of 21.73 percent.

Nifty Futures Opened at 8566.25 with +30.25 Points

Nifty Future tips

Nifty Futures opened at 8566.25 with +30.25 points upward from the last week ending at 8536.00, From the opening of the week we saw constantly buying in Nifty, last week we saw aggressive movement in Nifty Futures, On Monday market day Nifty Futures opened with weekly low-lying of 8543.00 and on Friday market Nifty traded with weekly and lifetime max of 8875.85 and ended positive at 8835.60 with +299.00 points upward from the last week ending at 8536.00. In which we saw top weekly Gained profit in BHARTI AIRTEL with +12.03 percent, +41.25 Rs change, and TATA MOTORS with +11.93 percent, +62.70 Rs change, and top weekly Loosed in BANK OF BARODA with -79.36 percent, -857.75 Rs Changes, and ITC LTD with -2.96 percent, -10.65 Rs change.

Nifty Index Opened Up at 8745.85

India Indices- At 8745.85 with +16.35 points upward Nifty index opened up the last day of ending at 8729.50 and ended positive at 8761.40. From the opening we saw normal movement in Nifty Index, Nifty Index opened with life time max of 8774.15 and near 2.15 o’clock Nifty Index traded with day low-lying of 8727.00 but till ending Nifty regained and ended positive at 8761.40 with +0.37 percent, +31.90 points upward. And the full day Nifty Index traded between 8774.15-8727.00. At the end of the day Nifty futures Gained profit of +0.28%, +24.65 points upward to cend at 8741.80 from the last day of ending at 8717.15 with premium of +12.30 points and percent change in open interest of +4.84 percent.

Bank Nifty Index opened upward at 19811.85

Bank Nifty Index opened upward at 19811.85 with +44.80 points up for the last day of ending at 19767.05 and closed positive at 19843.25. Full day we saw normal movement in Bank Nifty Index, Bank Nifty opened with lifetime max of 19843.25 and slid downward with continuous shelling and near closing of the market Bank Index traded with day low-lying of 19803.15 and ended positive at 19843.25 with +0.39 percent, +76.20 points upward and the full day Bank Nifty Index traded between 19964.95 to 19803.15. At the end of the market day Bank Nifty futures Gained profit of +0.27percent, +54.05 points upward to end at 19879.50 for the last day of ending at 19825.45 with premium of +36.25 points and percent change in open interest of -0.16%.

Derivatives Updates for 21 January 2015

India Indices- At 8575.10 with +24.40 points market Nifty index opened upward on Tuesday for the last day of ending at 8550.70 and ended positive at 8695.60. From the opening we saw constantly buying in Nifty Index, Nifty Index opened with day low-lying of 8574.10 and near ending of the market Nifty Index traded with lifetime max of 8707.90 and ended positive at 8695.60 with +1.69%, +144.90 points upward. And the full day Nifty Index traded between 8707.90 to 8574.50. At the end of the day Nifty futures Gained profit +1.61%, +137.90 points upward to close at 8712.00 for the last day of ending at 8574.10 with premium of +16.40 points and percent change in open interest of +12.95%.

Nifty Index Opened Up 20 January 2015 Reports

India Indices

On the Monday market in 8550.05 with +36.25 points upward Nifty index opened for the last day of ending at 8513.80 and closed positive at 8550.70. From the opening we saw constantly buying in Nifty Index, Nifty Index opened with day low-lying of 8513.80 and near ending of the market Nifty Index traded with day max of 8570.95 and ended positive at 8513.80 with +0.43%, +36.90 points upward. And the full day Nifty Index traded between 8570.95-8531.50. At the end of the day Nifty futures Gained profit of +0.28%, +24.10 points up to end at 8559.15 for the last day of ending at 8535.05 with premium of +8.45 points and percent change in open interest of +3.92%.

Weekly Derivative Future Report

In Bank nifty, full week we saw aggressive volatility, Bank Nifty Futures opened at 18690.00 with +30.00 points upward from the last week ending 18660.00. From the opening of the week we saw aggressive movement in Bank Nifty Futures, On Wednesday market Bank Nifty futures opened to trade with weekly low-lying of 18566.00 and next trading day Bank Nifty futures opened gap upward and traded with lifetime max of 19517.00 and ended positive at 19278.55 with +618.55 points upward from the previous week ending at 18660.00. In which we saw top weekly Gained profit in YES BANK with +5.08%, +38.80 Rs. Change and SBIN with +4.04%, +12.25 Rs. Change and top weekly Loosed in FEDERAL BANK with -3.02, -4.50 Rs. Change -3.02%, -4.50 Rs. Change and PNB -0.75%, -4.55 Rs. Change.

Nifty index opened upward 14 January Reports

India Indices- Nifty index opened upward On Tuesday market at 8346.15 with -23.15 points from the last day of ending at 8346.15 and ended negative at 8299.40. From the opening we saw constant movement in Nifty, Nifty Index opened with day max of 8356.65 and near ending of the market Nifty Index traded with day low-lying of 8267.90 and ended negative at 8299.40 with -0.28%, -23.60 points downward. And the full day Nifty Index traded between 8356.65-8267.90. At last of the day Nifty futures Loosed with -0.53%, -44.05 points downward to end at 8316.50 from the last day of ending at 8360.15 with daily premium of 17.10 points and percent change in open interest of +2.45%