Domestic Market Overview. Global Market Overview. LKP Advisory

Transcription

1 Top Gainers BSE Smallcap Top Losers BSE Smallcap Top Gainers BSE Midcap Top Losers BSE Midcap Top Gainers BSE 100 Top Losers BSE 100 Top Gainers CNX Nifty Top Losers CNX Nifty Morning Notes 16-Jun-2016 Indices 15-Jun 14-Jun % Chg. Major Indices 15-Jun 14-Jun % Chg. FII's & DII's in equity Rs.Crs S&P BSE SENSEX 26,726 26, % Dow Jones Industrial Average 17,640 17, % 15-Jun Buy Sell Net S&P CNX NIFTY 8,207 8, % Nasdaq Composite Index 4,835 4, % FII / FPI Investments 3,160 3, NIFTY MID100 FREE 13,386 13, % CAC 40 Index 4,172 4, % DII's Investments 1,672 1, NIFTY SML100 FREE 5,495 5, % FTSE 100 Index 5,967 5, % FII's contribution to the total turnover 33% BSE Sectoral Indices DAX Index 9,607 9, % DII's contribution to the total turnover 16% NIFTY PSU BANK 2,634 2, % Major Asian Indices 15-Jun 14-Jun % Chg. FII's in Derivatives Rs.Crs NIFTY INFRA 2,813 2, % Hong Kong 20,468 20, % 15-Jun Index Fut Index Opt Stock Fut Stock Opt NIFTY ENERGY 8,609 8, % Nikkei ,920 15, % Net NIFTY BANK 17,918 17, % Korea 1,969 1, % OI 14,563 67,548 53,570 5,428 NIFTY FIN SERVICE 7,223 7, % Shanghai 2,887 2, % Chg.OI -3.0% 5.5% 1.4% 4.4% NIFTY FMCG 20,956 20, % Taiwan 8,606 8, % FIIs' contribution to the total Derivatives turnover 24% NIFTY CONSUMPTION 3,637 3, % NIFTY IT 11,282 11, % Commodities (MCX) 15-Jun 14-Jun % Chg. Curr. Derivatives (NSE) 15-Jun 14-Jun % Chg. NIFTY AUTO 8,690 8, % Aluminium (30JUN2016) % USDINR 28-JUN % NIFTY METAL 2,118 2, % Copper(30JUN2016) % EURINR 28-JUN % NIFTY MEDIA 2,604 2, % Crude (20JUN2016) 3,238 3, % JPYINR 28-JUN % NIFTY REALTY % Gold (05AUG2016) 30,444 30, % DJIA (17-JUN-2016) 17,725 17, % NIFTY PHARMA 10,790 10, % Silver ( 05JUL2016) 41,547 41, % S&P500 (17-JUN-2016) 2,081 2, % Company LTP Chg % Chg Company LTP Chg % Chg NTPC AUROPHARMA SBIN ADANIPORTS LT EICHERMOT POWERGRID SUNPHARMA MARUTI DRREDDY Company LTP Chg % Chg Company LTP Chg % Chg VEDL INFRATEL SBIN ASHOKLEY NTPC NESTLEIND HINDPETRO AUROPHARMA LT HINDZINC Company LTP Chg % Chg Company LTP Chg % Chg INDIANB JPASSOCIAT TORNTPOWER SHRIRAMCIT JSWENERGY ASHOKLEY HINDPETRO PEL UBL BLUEDART Company LTP Chg % Chg Company LTP Chg % Chg ARSHIYA RAIREKMOH MYSOREBANK LITL ASAHISONG OKPLA SBBJ PRAKASHSTL SBT UNITECH Domestic Market View Markets to get a cautious start, may see some recovery in later trader The Indian markets rallied in last session, supported by lower level buying in value stocks, while some sector related development too supported the markets to move higher. Today, the start is likely to remain cautious on sluggish global cues. Traders will also be concerned with report that India s merchandise exports contracted again, albeit at their slowest pace in 18 months in May as non-petroleum exports finally turned positive, led by exports of engineering goods and gems and jewellery. Exports contracted at 0.79% in May while imports slipped 13.16%, leaving a trade deficit of $6.27 billion. Markets however can see some upmove in the latter part of the trade as the crude in global markets continues to move lower. The power sector will be buzzing with a two day renewable energy conference, which will be discussing implementation of various ongoing schemes of the government and issues pertaining to power, coal and renewable energy sectors. The PSU stocks too will be in action, as part of its disinvestment plan as well as to meet market regulator (Sebi) guidelines on public holdings, the government has approved a 10% disinvestment in Housing and Urban Development Corporation (Hudco) through an initial public offer.

2 Domestic Market Overview Boisterous benchmarks stage a remarkable rally; Nifty ends above 8200 mark After witnessing a wonderful recovery in previous session, Indian benchmark indices took a step forward and rallied over a percent on Wednesday, on account of fresh round of value-buying by funds and retail investors in the frontline bluechip sectors. Sentiments got a boost with Finance Minister Arun Jaitley s statement after a meeting of Empowered Committee of state FMs on the long awaited indirect tax reform that every state has either supported or accepted the idea of the pan- India Goods and Services Tax (GST) except Tamil Nadu. GST Empowered Committee Chairman Amit Mitra too said that there was general consensus on the issue of dual control over taxation structure between the Centre and states. Market participants also got some confidence with NITI Aayog Vice-Chairman Arvind Panagariya s statement that India's economic growth will cross the 8 per cent-mark this fiscal on the back of good monsoon and pick up in manufacturing. He said the growth in the last quarter of the previous fiscal touched 7.9 per cent because of uptick in manufacturing activity and improved performance of agriculture sector. Besides, appreciation in the rupee against dollar too supported sentiments. Indian rupee strengthened 14 paise to against the US dollar at the time of equity markets closing on fresh selling of the American unit by exporters. Meanwhile, shares of all three listed airlines companies - Jet Airways (India), SpiceJet and InterGlobe Aviation (IndiGo) - gained after the Union Cabinet cleared Civil Aviation Policy, while public sector oil marketing companies (OMCs) gained, after the global crude prices fell to their three weeks low. Moreover, shares of State Bank of India s subsidiaries surged up to 20 per cent on Cabinet s approval to the proposed merger of SBI s five subsidiaries and Bharatiya Mahila Bank (BMB) with the parent bank Global Market Overview Asian markets end mostly higher on Wednesday Asian equity markets ended mostly higher on Wednesday even as underlying sentiment remained cautious ahead of the Fed decision on interest rates due tonight and the Bank of Japan's policy decision slated for Thursday. Also, investors ignored the MSCI decision delaying the inclusion of mainland-listed Chinese A-shares in its emerging market index for another year, citing concerns about market access and capital mobility. Chinese shares led regional gains after China's securities market regulator said a global stock index without A-shares trading in Shenzhen and Shanghai is incomplete and the MSCI's decision won't impact the reform and opening process of the country's capital markets. Japanese shares rose on short-covering as the yen slightly weakened against its rivals ahead of monetary-policy decisions by the Federal Reserve and the Bank of Japan. US markets closed lower following Fed inaction The US markets closed lower on Wednesday, stretching a losing streak to five days, as investors weighed the Federal Reserve s decision to delay rate increases. The committee decided to maintain the target range for the federal funds rate at 1/4 to 1/2 percent. The Fed acknowledged that hiring slowed and that business fixed investment was soft and signaled a slower approach on raising borrowing costs. Although the unemployment rate has declined, job gains have diminished. Growth in household spending has strengthened. Since the beginning of the year, the housing sector has continued to improve and the drag from net exports appears to have lessened, but business fixed investment has been soft. Inflation has continued to run below the Committee s 2 percent longer-run objective, partly reflecting earlier declines in energy prices and in prices of non-energy imports. Market-based measures of inflation compensation declined; most survey-based measures of longerterm inflation expectations are little changed, on balance, in recent months. The Committee currently expects that, with gradual adjustments in the stance of monetary policy, economic activity will expand at a moderate pace and labor market indicators will strengthen. The US central bank lowered its economic growth forecasts for 2016 and 2017 and indicated it would be less aggressive in tightening monetary policy after the end of this year.

3 Index Futures (OI in '000 Shares) Future Chg Spot Chg Prem / Total Open Interest 15-Jun (%) 15-Jun (%) Disc 15-Jun Chg (%) NIFTY 8, , , NIFTYIT 11, , BANKNIFTY 17, , , Increasing OI, Increasing Delivery Qty & Increasing Price in Stock Futures (Open Interest in '000 Shares) Symbol Total OI Del Qty Cash Market Prev Increase Spot Fut Spot Fut Prem / 15-Jun % Chg. 15-Jun % Del. % Del. Del Qty (Rs.) (Rs.) Chg (%.) Chg (%.) Disc SUNTV 5,986 9% 1,054,754 43% 36% 611, % 1.9% 1.6 HEROMOTOCO 1,290 8% 589,516 68% 63% 354, % 1.9% 11.8 JSWENERGY 14,650 8% 1,107,370 15% 15% 811, % 3.6% 0.5 DABUR 5,399 6% 692,298 61% 59% 86, % 1.4% -0.5 BEML 1,564 6% 80,899 29% 25% 28, % -0.1% 4.7 SBIN 86,938 5% 9,304,555 19% 20% 4,253, % 3.9% 0.1 KSCL 3,058 5% 260,828 42% 33% 109, % 0.3% 2.6 UNIONBANK 14,755 5% 1,167,543 21% 23% 5, % 1.9% -1.3 CESC 1,591 5% 410,414 25% 25% 169, % 4.5% 3.6 SYNDIBANK 11,876 5% 790,932 21% 14% 448, % 0.4% 0.3 Increasing OI, Increasing Delivery Qty & Decreasing Price, (Open Interest in '000 Shares) Symbol Total OI Del Qty Cash Market Prev Increase in Spot Fut Spot Fut Prem / 15-Jun % Chg. 15-Jun % Del. % Del. Del Qty (Rs.) (Rs.) Chg (%.) Chg (%.) Disc AJANTPHARM % 61,094 34% 15% 23, % -1.8% 4.7 CEATLTD 3,100 7% 276,892 57% 38% 34, % -0.6% 4.3 ASHOKLEY 75,649 7% 8,124,761 62% 51% 5,624, % -1.6% 0.6 MRF 55 5% 9,071 48% 33% 2, % -0.8% HINDZINC 4,131 3% 690,436 37% 43% 243, % -0.7% 0.8 IBREALEST 31,752 2% 1,602,440 23% 15% 105, % -0.67% 0.6 IOB 6,874 2% 2,265,271 46% 30% 1,810, % -1.1% 0.1 AUROPHARMA 15,110 2% 710,572 50% 30% 426, % -1.06% 3.9 EICHERMOT 213 1% 30,480 33% 22% 10, % -0.6% 99.3 APOLLOHOSP 769 1% 160,636 53% 43% 67, % -0.2% 7.4

4 Corporate News Wipro has launched its analytics solution, Data Discovery Platform. The solution provides pertinent business insights across the value of chain of an industry through pre-defined apps. The company s Data Discovery Platform will enable businesses to embark on an analytics journey with value added services of process simplification and business transformation. Sangam (India), a leading integrated textile conglomerate in India, has floated a 100 percent subsidiary -- Sangam Lifestyle ventures -- for its retail business. The new subsidiary will focus on developing new exclusive chain of stores under C 9 Fashion brand name while the company will continue to expand its multi-brand outlets. Kitex Garments is all set to launch its own brand Little Star in the US market. The company, which has been the major supplier to some of the global brands, is launching its own brand on the backdrop of increasing demand in the country. NIIT, a global leader in skills and talent development has offered the 17th National Scholarship in Nigeria, to reward meritorious students desirous of building successful careers in today s knowledge economy. For the first time ever, scholarships will also be offered for futuristic cutting-edge programs in Digital Transformation under diginxt series. NIIT will now offer scholarships in programs like diginxt MMS, Big Data, Java Enterprises Apps with DevOps, Digital Marketing apart from Revolutionary MMS and other programs. These programs have been introduced by NIIT with a profound understanding of the changing workforce requirement of the Global and Nigerian IT industry. UPL has acquired 26% stake in Weather Risk Management Services (WRMS) for cash consideration of about Rs 10 crore. The Company has signed an agreement with WRMS, the promoters of WRMS and the subsidiary of WRMS, namely, INGEN Technologies (INGEN), whereby UPL will subscribe to 37,681 equity shares constituting 26% share capital (on fully diluted basis) of WRMS. The formalities related to the acquisition will be completed within 90 days. Zydus Cadila has signed a strategic collaboration agreement with Eczactbast hag Pazarlama A.S., a leading healthcare company of Turkey to market biotech products in the Turkish market. The agreement involves the import of biosimilars which are currently unavailable in the country especially for the treatment of cancer and it also paves the way for a long term strategic collaboration to produce and launch new products in the market. Zensar Technologies, a leading provider of digital solutions, software and infrastructure services, has signed a multimillion multiyear Managed Services Deal with John Lewis, UK s largest department store retailer. Zensar has been partnering John Lewis through its business transformation process with next gen applications management solutions for many years now. As part of this agreement spread over a five-year period, Zensar will be responsible for application management and technical analysis services for buying, selling, supply chain, financial management, management information systems, digital and online order management, customer delivery and mobile applications. This deal underlines Zensar s position as one of two key IT Operational Support partners at John Lewis. Alstom T&D India, a GE Group Company, has bagged contracts worth over Rs 202 crore from Power Grid Corporation of India (PGCIL) for execution of two projects in Madhya Pradesh. Both the projects will facilitate evacuation of power and add to availability of electricity in the central region. Under the first contract, worth Rs crore, Alstom will set up a 400/220kV AIS substation at Rewa. The contract also includes the supply of three 500MVA power transformers and one 125MVAR shunt reactor at 400kV level. The substation will evacuate power from the 750MW solar park coming up at Rewa. Goa Carbon has temporarily shut down operations at its Goa Plant located at St. Jose de Areal, Salcete - Goa, from June 14, There would not be any financial impact due to the temporary shutdown of the Company s Goa Unit on account of sufficient inventory of finished material. Andhra Petrochemicals has temporarily shut-down operations at its Visakhapatnam plant from June 15, 2016 due to unremunerative realisation of the company s products, i.e., Oxo-Alcohols, coupled with surge in imports.

5 NMDC has reported 4.99 million tonnes (MT) of iron ore production and logged sales volume of 4.98 MT up to May The company s Chhattisgarh mines produced 3.29 MT of iron ore and registered sales volume of 3.31 MT, while Karnataka mines produced 1.70 MT of iron ore and sold 1.67 up to May Dion Global Solutions has launched MiFID II solution that enables customers to comply with the regulatory requirements and build a new business operating model to gain competitive advantage in the industry. Tata Power's nationwide resource and energy conservation movement Club Enerji, has successfully achieved a significant milestone of saving million units of electricity by sensitising more than 12.8 million citizens across 11 locations in Mumbai, Delhi, Ahmedabad, Kolkata, Pune, Bangalore, Lonavala, Maithon, Belgaum, Jamshedpur and Ranchi. This saving is equivalent to saving tons of CO2, which is equivalent to the amount of energy. Bharti Airtel and Singapore Telecommunications (Singtel) have joined hands to deliver high-speed, secure data network coverage to Asia-Pacific, the Middle East, Africa, Europe and the US. They have combined resources into one network to provide high speed data connectivity to 325 cities across the world through 370 Points of Presence (PoP). This will form one of the largest Internet Protocol Virtual Private Networks (IP VPN) globally. Together, Singtel s 200 PoPs in 160 cities around the world and Airtel s 170 plus PoPs in 165 cities across India, Africa and the Middle East, will form a new network that offers a connectivity backbone to enterprises which spans several continents- Asia, Europe, Africa and North America. Nava Bharat Ventures is all set to commission its first overseas thermal power project of 300 MW in Zambia later this month and the power project is set for commercial operations during the second quarter of the current financial year. While the first unit of 150 MW power project will be operational by June, the second one within a month thereafter, contributing to the sales volumes and profitability. Godrej Industries subsidiary Godrej Agrovet (GAVL) has received an approval for joint development of land/s admeasuring approximately 100 acres, located at Sarjapur, Bangalore, by GAVL and/or its subsidiaries along with Godrej Properties, the developer. The board of directors at its meeting held on June 14, 2016 has approved for the same. Dewan Housing Finance Corporation (DHFC), one of the leading housing finance companies in India, has proposed to issue secured redeemable Non Convertible Debentures (NCDs) amounting to Rs 400 crore and a greenshoe option up to Rs crore on Private Placement basis, pursuant to special resolution passed by the shareholders of the company at the Annual General Meeting held on July 23, 2015, on the terms and conditions. Bharti Airtel, India s largest telecommunications services provider, has unveiled a new initiative - Open Network - under Project Leap, its national network transformation initiative. Customers will be able to see network coverage/signal strength in any location across India through a colour coded interface that will show if coverage is excellent, good, moderate or non-existent. Economy Govt clears 2 FDI proposals worth Rs 2.19 crore Based on the recommendations of foreign investment promotion board (FIPB) in its 235th meeting held on May 20, 2016, the government has approved two foreign direct investment (FDI) proposals, including that of Aurobindo Pharma. The FDI proposal of Aurobindo Pharma is worth Rs 2.19 crore, while the one from Sterling Commerce Solutions India was for approval to act as an investing company for Curan Software International, Emptoris Technologies India, Kenexa Technologies and Rational Software Corporation (India), which are currently owned by overseas companies of IBM and are currently dormant. FIPB has recommended another proposal from Holcim India worth Rs 3,400 crore for approval of the Cabinet Committee on Economic Affairs. The proposal seeks approval for Ambuja Cements to acquire 24 per cent shares in its holding company, Holcim India.

6 Meanwhile, three FDI proposals were deferred including Mylan Laboratories, Vodafone India and Reckitt Benckiser (India). Besides, seven proposals were rejected which include Rizobactor Argentina, S.A, Indian Energy Exchange, Veritas (India), BMJ Group India, CevaSanteAnimale, Sharekhan and Exzatech Solutions. India scouts for better LNG deal in alliance with Japan and South Korea India is looking for creating an alliance of liquefied natural gas consumers with Japan and South Korea, and may also include China for better terms from producing nations, as Asian demand for the fuel grows. Minister of State for Petroleum and Natural Gas, Dharmendra Pradhan has stated that for the next two to three decades, gas will be the primary fuel source of India, indicating that greener energy sources like solar and wind would take much more time before taking root in the sub-continent. Minister further stated that they want to bring together the countries and form a network which can together source reasonable, rational and affordable LNG. Gas Authority of India, the public sector company that processes and distributes natural gas, will take the talks forward and plan the pipeline requirements that will facilitate the creation of such an alliance. India's combined public-private investments records 10-year low in 2015: World Bank World Bank in its latest annual report - Private Participation in Infrastructure Database, has said that India recorded a 10-year low in combined public-private investments in 2015, as only six road projects, usually a rich source of PPI has reached financial closure over the past 10 years. However, India continued to be the second highest ranked country attracting private capital in infrastructure with $341 billion in According to the World Bank, global private infrastructure investment in 2015, though on par with the previous year, was 10 per cent lower than the previous five-year average because of dwindling commitments in China, Brazil, and India. As per the report, global investment in 2015 decreased to $111.6 billion, below the five-year average of $ billion from 2010 to By number of projects, however, India, Brazil and China took the lead, with 131 of the 300 global deals, or 44% of all projects. Still their combined investment of $11.6 billion only made up 10% of the global total, compared to 54% in As per the report, with the steady historical trends, India generated a majority of the projects (36 out of 43); Pakistan had four; Nepal, two; and Bangladesh, one. 26 of the 36 projects in India, amounting to $2.0 billion, targeted renewable energy. Solar energy investments climbed 72 percent higher than the last five year average, while renewables attracted nearly two-thirds of investments with private participation. Jaitley to meet top ministers to review the food price situation Worried over rising food inflation, Finance Minister Arun Jaitley has called a special meeting of food, agriculture ministers and other senior officials to discuss prices of essential commodities like pulses and tomato, and also to chalk out an immediate plan to insulate poor people from increasing prices of food items. Urban Development Minister Venkaiah Naidu, Transport Minister Nitin Gadkari, Food Minister Ram Vilas Paswan, Agriculture Minister Radha Mohan Singh and Commerce Minister Nirmala Sitharaman, The Cabinet secretary, the chief economic advisor and secretaries of the departments concerned, including finance, food and consumer affairs are slated to attend the meeting. The price of vegetables is a major concern for the government, with the Wholesale Price Index or WPI data for may showing that vegetable inflation rose sharply from 2.21 per cent in April to per cent. The ministers will review the food price situation and discuss steps to keep in check prices of essential commodities, including pulses. The government has procured 1.15 lakh tonnes pulses directly from farmers as of now for creating a buffer stock of 1.5 lakh tonnes this year. It is also importing pulses through state-owned trading agencies like MMTC. So far, 38,500 tonnes of lentils have been contracted for import.

7 Tech View CNX Nifty Technical View NA IMPORTANT LEVELS FOR THE DAY Support BSE NSE BANKNIFTY S1 26, S2 26, Resistance R1 26, R2 27, Pivot 26,642 8,181 17,840

8 Tech View PIVOT POINTS Scrip Name CMP RB2 RB1 PP SB1 SB2 Scrip Name CMP RB2 RB1 PP SB1 SB2 ACC GAIL ADANIENT GLENMARK ADANIPORTS GMRINFRA ADANIPOWER GODREJIND ALBK GRASIM AMBUJACEM HAVELLS ANDHRABANK HCLTECH APOLLOHOSP HDFC APOLLOTYRE HDFCBANK ARVIND HDIL ASHOKLEY HEROMOTOCO ASIANPAINT HEXAWARE AUROPHARMA HINDALCO AXISBANK HINDPETRO BAJAJ-AUTO HINDUNILVR BANKBARODA HINDZINC BANKINDIA IBREALEST BATAINDIA ICICIBANK BHARATFORG IDBI BHARTIARTL IDEA BHEL IDFC BIOCON IFCI BPCL IGL CAIRN INDIACEM CANBK INDUSINDBK CENTURYTEX INFY CESC IOB CIPLA IOC COALINDIA IRB COLPAL ITC CROMPGREAV JINDALSTEL DABUR JISLJALEQS DISHTV JPASSOCIAT DIVISLAB JPPOWER DLF JSWENERGY DRREDDY JSWSTEEL EXIDEIND JUBLFOOD FEDERALBNK JUSTDIAL

9 Tech View Scrip Name CMP RB2 RB1 PP SB1 SB2 Scrip Name CMP RB2 RB1 PP SB1 SB2 KOTAKBANK TATACHEM KTKBANK TATACOMM L&TFH TATAGLOBAL LICHSGFIN TATAMOTORS LT TATAMTRDVR LUPIN TATAPOWER M&M TATASTEEL M&MFIN TCS MARUTI TECHM MCDOWELL-N TITAN MCLEODRUSS UBL MRF UCOBANK NHPC ULTRACEMCO NMDC UNIONBANK NTPC UNITECH OFSS UPL ONGC VOLTAS ORIENTBANK WIPRO PETRONET YESBANK PFC ZEEL PNB POWERGRID PTC RCOM RECLTD RELCAPITAL RELIANCE RELINFRA RPOWER SAIL SBIN SIEMENS SRTRANSFIN SUNPHARMA SUNTV SYNDIBANK

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