DAILY REPORT 29 th SEPT. 2015 YOUR MINTVISORY Call us at +91-731-6642300 Global markets at a glance US stocks finished sharply lower on Monday and were on track for their worst quarter in four years as investors wor- ried about the health of China's economy and its potential impact on the timing of a US interest rate increase. The Nasdaq composite lost 3% and S&P 500 dropped more than 2%. Investors will also scrutinize Sept non-farm payrolls data on Friday. The DJI average fell 1.92% to end at 16,001.89 points. The S&P 500 lost 2.57% to 1,881.77 and the Nasdaq Composite dropped 3.04% to finish at 4,543.97. European shares closed sharply lower on Monday, with miner Glencore seeing one third of its value wiped out by growing debt concerns and carmaker Volkswagen, which has been hit by an emissions data scandal, extending losses. The pan-European FTSEurofirst 300 index ended down 2.21 percent, while the euro zone's blue-chip Euro STOXX 50 index fell 2.37 percent, with both markets re- treating after rising by around 3 percent on Friday. Asian shares skidded to three-week lows and the dollar sagged on Tuesday, after weak Chinese data rekindled wor- ries about its fragile economy and led to sharp losses on Wall Street. MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was down 0.7 percent in early trading, touching its lowest levels since September 8. Japan's Nikkei stock index tumbled 2.4 percent. Previous day Roundup In a late sell-off, equity benchmarks shed nearly one per- cent with the Nifty closing below 7800 on Monday - the first trading day of October series - as investors turned cau- tious ahead of much awaited RBI policy. The Sensex dropped 246.66 points or 0.95% to 25616.84 and the Nifty plunged 72.80 points or 0.93% to 7795.70. The fall in broader markets was less compared to benchmarks. The BSE Midcap and Smallcap indices lost 0.2% each. Index stats The Market was volatile in last session. The sartorial indices performed as follow; Consumer Durables [up 301.85pts], Capital Goods [down 259.09pts], PSU [down 50.59pts], FMCG [down 19.64pts], Realty [up 13.63pts], Power [down 10.54pts], Auto [down 301.20Pts], Healthcare [up 20.30Pts], IT [down 144.29pts], Metals [down 179.38pts], TECK [down 85.01pts], Oil& Gas [down 25.69 pts]. World Indices Index Value % Change D J l 16001.89 -1.92 S&P 500 1881.77 -2.57 NASDAQ 4543.97 -3.04 FTSE 100 5958.86 -2.46 Nikkei 225 17155.85 -2.77 Hong Kong 20468.78 -3.39 Top Gainers Company CMP Change % Chg DRREDDY 4,177.90 207.65 5.23 IDEA 142.70 3.45 2.48 LUPIN 2,035.00 44.65 2.24 ADANIPORTS 307.60 5.75 1.90 POWERGRID 127.25 1.85 1.48 Top Losers Company CMP Change % Chg TATAMOTORS 284.65 18.75 -6.18 VEDL 91.05 4.55 -4.76 COALINDIA 307.60 10.80 -3.39 ULTRACEMCO 2,717.80 93.30 -3.32 SUNPHARMA 863.50 28.40 -3.18 Stocks at 52 Week’s HIGH Symbol Prev. Close Change %Chg AARTIIND 512.05 19.70 4.00 Indian Indices Company CMP Change % Chg NIFTY 7795.70 -72.80 -0.93 SENSEX 25614.84 -246.66 -0.95 Stocks at 52 Week’s LOW Symbol Prev. Close Change %Chg BHARTIARTL 327.55 -5.40 -1.62 COALINDIA 307.60 -10.80 -3.39 GUJGASLTD 518.80 -14.75 -2.76 HINDALCO 70.50 -0.90 -1.26 TATACHEM 371.90 -8.35 -2.20 TATAMOTORS 284.65 -18.75 -6.18 TATAMTRDVR 207.85 -12.85 -5.82
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DAILY REPORT
29th
SEPT. 2015
YOUR MINTVISORY Call us at +91-731-6642300
Global markets at a glance
US stocks finished sharply lower on Monday and were on
track for their worst quarter in four years as investors wor-
ried about the health of China's economy and its potential
impact on the timing of a US interest rate increase. The
Nasdaq composite lost 3% and S&P 500 dropped more than
2%. Investors will also scrutinize Sept non-farm payrolls
data on Friday. The DJI average fell 1.92% to end at
16,001.89 points. The S&P 500 lost 2.57% to 1,881.77 and
the Nasdaq Composite dropped 3.04% to finish at 4,543.97.
European shares closed sharply lower on Monday, with
miner Glencore seeing one third of its value wiped out by
growing debt concerns and carmaker Volkswagen, which
has been hit by an emissions data scandal, extending
losses. The pan-European FTSEurofirst 300 index ended
down 2.21 percent, while the euro zone's blue-chip Euro
STOXX 50 index fell 2.37 percent, with both markets re-
treating after rising by around 3 percent on Friday.
Asian shares skidded to three-week lows and the dollar
sagged on Tuesday, after weak Chinese data rekindled wor-
ries about its fragile economy and led to sharp losses on
Wall Street. MSCI's broadest index of Asia-Pacific shares
outside Japan .MIAPJ0000PUS was down 0.7 percent in
early trading, touching its lowest levels since September 8.
Japan's Nikkei stock index tumbled 2.4 percent.
Previous day Roundup
In a late sell-off, equity benchmarks shed nearly one per-
cent with the Nifty closing below 7800 on Monday - the
first trading day of October series - as investors turned cau-
tious ahead of much awaited RBI policy. The Sensex
dropped 246.66 points or 0.95% to 25616.84 and the Nifty
plunged 72.80 points or 0.93% to 7795.70. The fall in
broader markets was less compared to benchmarks. The
BSE Midcap and Smallcap indices lost 0.2% each.
Index stats
The Market was volatile in last session. The sartorial indices
performed as follow; Consumer Durables [up 301.85pts],
Capital Goods [down 259.09pts], PSU [down 50.59pts],
FMCG [down 19.64pts], Realty [up 13.63pts], Power [down
10.54pts], Auto [down 301.20Pts], Healthcare [up
20.30Pts], IT [down 144.29pts], Metals [down 179.38pts],
SOBHA given breakout above 256.30, in last session above 257 it sharply rose then it consolidate around high of 267 since selling arise in last one hour for that it come down & end at 262.55 so in next session it will be good to buy above 267 use stop loss of 262 for target of 281-285-290+ MACRO NEWS
RBI will announce monetary policy today after 11 a.m, and may cut repo to 4 year low; caution against inflation.
Google to provide wi-fi at 500 Indian railway stations
CARE downgrades Srei Infra, GMR Infra's Hyderabad SPV
Pared debt by Rs 1500cr; promoters stake at 69.5%:GMR Infra
Price hike reason for ban on UltraTech, Lafarge: CREDAI
Will take a call on base rate cut post RBI meet: SBI
Sebi pitches for allowing FPIs in commodities derivative mkt.
Agri-logistics firm SLCM raises Rs 100 crore from PE fund
Centre approves 7 Textile Parks in Rajasthan: Union Min-ister of State for Textile Santosh Gangwar
Indian oil refinery cos to pay first tranche of $700 mn to Iran on
Strides Arcolab to raise up to Rs 1,500 crore through market instruments
US consumer spending rises; core inflation firms slightly
India signs a $3 billion deal with Boeing to buy 22 Apache and 15 Chinook helicopters
Tata Steel bears brunt of UK industry decline
Maruti Suzuki -Hikes wages for temporary workers too
CREDAI NCR has decided to ban Shree Cement besides UltraTech Cement
Sadbhav Infrastructure to refinance 4 road projects
STOCK RECOMMENDATIONS [FUTURE]
1. [FUTURE]
In previous session market given too volatility and finished around one percent loss in that Metal index led where JIN-DALSTEL also breached around 3%, it end at 58.60 while in Sep expiry it made all time low of 57.60 then it get resis-tance at 67, since momentum indicator given negative cross over so sell it below 57.50 for target 56.50 55 53 with stop loss of 59.10.
2. BEL [FUTURE]
After split in last series BEL Future continuously making higher highs today it finished with 1.30% gain while other defense share faced selling pressure so it will be good to buy above 1185 use stop loss of 1165 for target of 1200-1220.
Maruti's agitating temporary workers chalk out future strategy
Jaiprakash Power Ventures pays USD 75 million to HBPCL bondholders on sale of securities
ABB readies first phase of North-East Agra transmis-sion link to supply hydro-power
Coal India stake sale: Government extends deadline for submission of bids by bankers
Kohinoor Foods gets notice for termination of rice sup-ply pact
Crompton Greaves wins 17 million euro order from Spanish firm Gas Natural Fenosa
NIFTY FUTURE
After trading steady Nifty in yesterday trading session closed in red as expected. For tomorrow Nifty Future is advised to sell on rise around 7950 for the targets of 7850 and 7750 with strict stop loss of 8200.
BUY SILVER DEC ABOVE 35100 TGTS 35300,35600 SL BE-
LOW 34800
SELL SILVER DEC BELOW 34800 TGTS 34600,34300 SL
ABOVE 35100
COMMODITY ROUNDUP
Crude oil futures steadied after plunging nearly 3 percent
overnight as the downbeat Chinese data fuelled fears about
global demand. Futures market traders and large oil specu-lators sharply increased their overall bullish bets in WTI oil futures last week for fifth straight weeks. The non-
commercial contracts of crude oil futures, traded by large speculators, traders and hedge funds, totaled a net position of +259,429 contracts in the data reported for September 22nd. This was a change of +20,043 contracts from the pre-
vious week's total of +239,386 net contracts for the data reported through September 15th.
MCX Gold eased today in tune with global futures. Gold dropped as traders continued to book profits after the
metal hit a four week highs last week. A break under 100
day Exponential Moving Average (EMA) hit the counter hard
today. The COMEX Gold futures currently linger around
$1130 per ounce, down 1.35% on the day. MCX Gold fu-tures for October soared above Rs 27000 per 10 grams mark last week amid hurried buying but failed to hold on above
the mark. The counter trades at Rs 26430 per 10 grams, down 1.14% on the day right now. Stocks are down around
2% on the day and DOW has opened lower by around 1%.
India's gold imports surged 156% on year to Rs 32261 crores
in August 2015. Silver imports also surged to Rs 2364 crores,
up 58.40% on year. The demand from the retail participants is likely to increase in coming days as festive season ap-proaches. The local stock markets have been witnessing
highly volatile moves and gold is looking supported amid
such a scenario. The domestic spot prices could maintain their recent buoyancy incoming weeks.
Massive selling was seen in MCX Silver futures as weak
global cues and lack of buying in local markets hurt the sen-timents. MCX Silver futures broke under Rs 36000 per kg mark and took a tumble in afternoon as global Silver
crashed amid an overwhelming correction in global com-modities market. COMEX Silver plummeted near its two week low and currently trades at $14.68 per ounce, down
2.80% on the day. Global crude oil and copper futures also
plummeted along with equities as Chinese economic wor-ries rattled the investors. Profits at China's major industrial
companies saw their biggest declines in four years last
month. Profits at a range of large firms declined by almost
9% last month compared to the same period in 2014.
NCDEX ROUNDUP Exports of rubber products, which have been growing at a healthy double digit rates for about two decades, have seen the growth rate dwindle in the last three financial years. This is a cause of concern as rubber is a sunrise sector and the potential for exports is immense notwithstanding the economic slowdown in some of the export markets. Accord-ing to Capexil data, the exports of rubber prod-ucts increased 5% in FY15 to $2.82bn from $2.74bn in FY14. The increase in exports was boosted by non-tyre rubber products manufactured largely by around 5,500 rubber MSMEs. In the 2015-16 sugar season that starts next month, produc-tion is estimated to be a million tonnes less than the earlier estimate of 28 mt due to poor rain in Maharashtra, the country’s biggest producing state, and in Karnataka. Stocks of some big sugar companies went up in anticipation of some support to prices. According to ISMA, production in 2015-16 in Maharashtra is now estimated at nine mt, down from the earlier estimate of 9.7 mt. In Karnataka, the esti-mate is 4.6 mt, down from this year’s estimate of five mt. However, in UP, output in 2015-16 is expected to be better than previous estimate, done in July. Isma said state was estimated to produce around 7.5 mt in 2015-16, up from 7.35 mt earlier. Domestic prices have been falling for a year. The first tranche of 1,792 tonnes of tur dal arrived last week, the first import of pulses in about last four years, which will help boost domestic supplies and check rising retail prices. While, the first consignment of urad dal will reach by October 20 and onions by October 3. Now, im-ported tur dal is being allocated to states as per their re-quests. The remaining 5,000 tonnes of tur, already ordered for import, is expected to reach by October 1.
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TIME REPORT PERIOD ACTUAL CONSENSUS
FORECAST PREVIOUS
MONDAY, SEP. 28
8:30 AM PERSONAL INCOME AUG. 0.4% 0.4%
8:30 AM CONSUMER SPENDING AUG. 0.3% 0.3%
8:30 AM CORE INFLATION AUG. 0.1% 0.1%
10 AM PENDING HOME SALES AUG. -- 0.5%
TUESDAY, SEP. 29
8:30 AM TRADE IN GOODS DEFICIT AUG. N/A -$59.1 BLN