DAILY REPORT 16 th MAY 2016 YOUR MINTVISORY Call us at +91-731-6642300 Global markets at a glance European shares rebounded from losses earlier in Friday's session as strong U.S. retail sales data buoyed markets, al- though satellite company Eutelsat plunged nearly 30 per- cent after slashing its outlook. The pan-European FTSEuro- first 300 index had spent much of the day in negative terri- tory, but swung back up to close 0.6 percent higher follow- ing the U.S figures. European markets have sagged in re- cent weeks, with some investors blaming strength in the euro, uncertainty before Britain's vote on June 23 on Euro- pean Union membership, and a political stalemate in Spain. The FTSEurofirst remains down by around 10 percent so far in 2016, and the International Monetary Fund (IMF) said on Friday that a vote by Britain to leave the EU next month could hit the global economy and world stock markets. US stocks fell on Friday as a decline in oil prices added to pressure from consumer companies after gloomy quarterly reports from Nordstrom and J.C. Penney overshadowed upbeat April retail sales data. The decline in the depart- ment stores' shares marked the end of a week that high- lighted the expanding clout of Amazon.com and the plight of brick-and mortar retailers struggling to keep up with the online seller. Markets in Asia were lower in early trade on Friday, follow- ing a modest finish in US equities. Australia's benchmark ASX 200 was flat, as resources stocks came under pressure. Major miners in the country saw their shares drop more than 1% each - Rio Tinto was down 1.57%. In Japan, the Nikkei 225 wavered between gains and losses before slip- ping 0.28%, as the yen saw renewed strength against the dollar during Asian hours, after retreating to the 109 level overnight. Across the Korean Strait, Kospi was down 0.27%. Previous day Roundup Friday took a Rs 95,000 crore hit as a proposed move by Sebi on participatory notes made investors jittery. The S&P BSE Sensex closed the turbulent day with a 300 points loss while the 50-share Nifty50 closed 85.50 points lower at 7,814. Index stats The Market was very volatile in last session. The sartorial indices performed as follow; Consumer Durables [down 170.97pts], Capital Goods [down 231.73Pts], PSU [down 48.66pts], FMCG [down 7.88Pts], Realty [down 28.33pts], Power [down 14.78pts], Auto [down 176.21pts], Healthcare [down 111.02pts], IT [down 72.09pts], Metals [down 156.24Pts], TECK [down pts], Oil& Gas [down 79.33pts]. World Indices Index Value % Change D J l 17535.32 -1.04 S&P 500 2046.61 -0.85 NASDAQ 4717.68 -0.41 FTSE 100 6138.50 +0.56 Nikkei 225 16412.21 -1.41 Hong Kong 19719.29 -0.99 Top Gainers Company CMP Change % Chg ASIANPAINT 944.30 15.50 1.67 IDEA 113.45 1.50 1.34 INFRATEL 375.80 3.70 0.99 HCLTECH 721.50 6.80 0.95 POWERGRID 145.20 1.30 0.90 Top Losers Company CMP Change % Chg HINDALCO 89.55 3.85 -4.12 EICHERMOT 18,960.00 793.05 -4.01 ADANIPORTS 188.80 3.65 -3.25 TATASTEEL 321.60 9.00 -2.72 HINDUNILVR 830.30 22.70 -2.66 Stocks at 52 Week’s HIGH Symbol Prev. Close Change %Chg ASIANPAINT 944.30 15.50 1.67 BIOCON 629.50 3.00 0.48 CROMPTON 135.45 6.45 5.00 HAVELLS 359.55 17.30 5.05 UJJIVAN 252.00 8.55 3.51 ZEEL 449.00 1.50 0.34 Indian Indices Company CMP Change % Chg NIFTY 7814.90 -85.50 -1.08 SENSEX 25489.57 -300.66 -1.17 Stocks at 52 Week’s LOW Symbol Prev. Close Change %Chg ESSDEE 71.50 -7.90 -9.95 CROMPTON 135.45 6.45 5.00 TIL 285.05 -2.45 -0.85 VIDEOIND 103.85 -0.70 -0.67 - -
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DAILY REPORT 16
th MAY 2016
YOUR MINTVISORY Call us at +91-731-6642300
Global markets at a glance European shares rebounded from losses earlier in Friday's session as strong U.S. retail sales data buoyed markets, al-though satellite company Eutelsat plunged nearly 30 per-cent after slashing its outlook. The pan-European FTSEuro-first 300 index had spent much of the day in negative terri-tory, but swung back up to close 0.6 percent higher follow-ing the U.S figures. European markets have sagged in re-cent weeks, with some investors blaming strength in the euro, uncertainty before Britain's vote on June 23 on Euro-pean Union membership, and a political stalemate in Spain. The FTSEurofirst remains down by around 10 percent so far in 2016, and the International Monetary Fund (IMF) said on Friday that a vote by Britain to leave the EU next month could hit the global economy and world stock markets. US stocks fell on Friday as a decline in oil prices added to pressure from consumer companies after gloomy quarterly reports from Nordstrom and J.C. Penney overshadowed upbeat April retail sales data. The decline in the depart-ment stores' shares marked the end of a week that high-lighted the expanding clout of Amazon.com and the plight of brick-and mortar retailers struggling to keep up with the online seller. Markets in Asia were lower in early trade on Friday, follow-ing a modest finish in US equities. Australia's benchmark ASX 200 was flat, as resources stocks came under pressure. Major miners in the country saw their shares drop more than 1% each - Rio Tinto was down 1.57%. In Japan, the Nikkei 225 wavered between gains and losses before slip-ping 0.28%, as the yen saw renewed strength against the dollar during Asian hours, after retreating to the 109 level overnight. Across the Korean Strait, Kospi was down 0.27%. Previous day Roundup Friday took a Rs 95,000 crore hit as a proposed move by Sebi on participatory notes made investors jittery. The S&P BSE Sensex closed the turbulent day with a 300 points loss while the 50-share Nifty50 closed 85.50 points lower at 7,814. Index stats The Market was very volatile in last session. The sartorial indices performed as follow; Consumer Durables [down 170.97pts], Capital Goods [down 231.73Pts], PSU [down 48.66pts], FMCG [down 7.88Pts], Realty [down 28.33pts], Power [down 14.78pts], Auto [down 176.21pts], Healthcare [down 111.02pts], IT [down 72.09pts], Metals [down 156.24Pts], TECK [down pts], Oil& Gas [down 79.33pts].
Awaiting $45 million from Venezuelan govt: Glenmark
Pharma
GVK to soon supply power from its first thermal plant in
Punjab
Mines Ministry notifies draft rules on terms and condi-
tions for transfer of mining lease
Alcohol market grew just 0.2% in 2015.
Marsons to buy stake in Dubai firm for $5 million
Reliance Power’s plea to mortgage Sasan coal blocks re-
jected by government
Piramal Enterprises to acquire four Pfizer brands for Rs
110 crore
Aurobindo Pharma gets USFDA nod for generic migraine
drug
Dr Reddy’s Laboratories pins hopes on launches after
sharp fall in Q4 profit
Reliance oil imports down 12 percent in April
STOCK RECOMMENDATIONS [FUTURE] 1. CAIRN INDIA [FUTURE]
On daily chart CAIRN INDIA future given break down of dou-ble top pattern below 141 according to pattern it may come up to 119 before that it 133 is strong support and in last week it maintain these level and finished at 135 so we advise to sell it below 133 for target of 130 125 with stop loss of 135. 2. LICHSGFIN [FUTURE]
Last week LICHSGFIN Future given bounce from 451 and given breakout above 468 but in last session of week it breached due to down fall in index for that it created bearish candle stick pattern but near support of 450 it is good to buy with stop loss of 444 for target of 460 468.
STOCKS IN NEWS Allahabad Bank faces Rs 581 crore loss in Q4 on dou-
bling of NPAs NPA woes continue to haunt PSUs, Bank of Maharash-
tra & Vijaya Bank take a hit Vedanta looks to raise inter-corporate loans to Rs
80,000 crore Not aware of adverse findings about manufacturing
units of Ranbaxy: Sun Pharma Wockhardt, Alembic challenge NPPA's price revision
move in Delhi HC NIFTY FUTURE
In last session due to weakness in Asian markets, Nifty start with loss since the major sector like Banking, Auto and IT faced selling for that Nifty breached 7800 level but the European market was positive for that Nifty got sup-port around 7780 and finished at 7830. On daily chart i t has support around 7700 and resistance 7935 which is last week highs as well as Stochastic has negative cross over so we advise to sell it on rise around 7860-7880
BUY USD/INR MAY ABOVE 67 TARGET 67.13 67.28 SL BELOW
66.8
SELL USD/INR MAY BELOW 66.9 TARGET 66.77 66.62 SL
ABOVE 67.1
EUR/INR
BUY EUR/INR MAY ABOVE 76.08 TARGET 76.23 76.43 SL BE-
LOW 75.88
SELL EUR/INR MAY BELOW 75.88 TARGET 75.73 75.53 SL
ABOVE 76.08
CURRENCY MARKET UPDATES: The US dollar continued to remain relatively higher against a basket of currencies on Friday, as investors eyed the re-lease of a string of US economic reports due later in the day and as downbeat euro zone data dampened demand for the single currency. The dollar index, which measures the greenback's strength against a trade-weighted basket of six major currencies, was at 94.30. The European unit fell 0.22% to 1.1350 versus the green-back. The single common currency weakened after official data showed that the single currency bloc's gross domestic product rose to 0.5% in the first quarter, from 0.3% in the preceding quarter. That was below the initial reading of 0.6% released on April 29 and consensus that was expect-ing no change. Year-on-year, GDP in the single currency bloc rose 1.5%, also below the initial estimate, the fourth quarter reading and analyst forecasts for growth of 1.6%. Meanwhile, the yen recovered somewhat from Japanese Finance Minister comments on Monday that financial au-thorities are prepared to intervene in the currency market if excessive moves in the yen are enough to affect the country's economy. But gains were capped, as Bank of Ja-pan said on Friday that the central bank will act decisively to achieve its 2% inflation target, stressing that it still has ample policy options available if it were to expand stimulus again. USD/JPY was down 0.29% at 108.71. As against the pound, dollar was steady with GBP/USD down 0.25% at 1.4413. UK construction output declined for the third con-secutive month at a pace of 3.6% mom after easing 0.9 percent in Feb, the Office for National Statistics showed Friday. Similarly, output fell 4.5% on a yearly basis, bigger than the 0.4 percent drop seen in the previous month. Extending its losses for the second straight session, the rupee fell by another 15 paise to 66.77 a dollar on sus-tained demand for the US currency from banks and import-ers on the back of higher greenback overseas amidst sharp fall in domestic equities. The rupee resumed lower at 66.78 per dollar as against the yesterday's closing level of 66.62 at the Interbank Forex market and moved down further to 66.83 before finishing at 66.77, showing a loss of 15 paise or 0.23%.