DAILY REPORT 27th AUG. 2013 YOUR MINTVISORY Call us at +91-731-6642300 Global markets at a glance Stocks in China advanced Monday, with the Shanghai Com- posite jumping 1.9% to 2096.47 as the market continued to be boosted by last week's approval of a free trade zone in Shanghai. Hong Kong's Hang Seng Index rose 0.7% to 22005.32, with shares reacting to earnings reports The Dow Jones industrial average declined 0.43 per cent, the S&P 500 also looses 0.40 per cent, and the Nasdaq Composite shown a little downside by 0.01 per cent. In Shanghai, Chinese shares jumped 1.90 per cent, or 39.01 points, to 2,096.47, boosted by gains in financial stocks and enthusiasm for plans approved last week to create a free-trade zone in the city. Hong Kong closed 0.65 per cent, or 141.81 points, higher at 22,005.32. Wall Street Update Chinese stocks led Asia higher, with Shanghai companies at the forefront, while the rest of Asia moved higher after weak housing data from the U.S. tempered expectations that the Federal Reserve will be quick to withdraw its bond -buying program. Previous day Roundup The market starts the weak on a volatile note. The Nifty faced resistance at 5,500 and closes flat at 5476.50, up 4.75 points. The Sensex manages to add 39 points, ending the session at 18,558. About 1288 shares have advanced, 977 shares declined, and 156 shares are unchanged. Index stats: BANKEX and Bank Nifty both declined yesterday by 1.04 & 1.02% respectively. The sectors resulted downside were Consumer Durables [down 2.81 pts], Oil & Gas [down 35.12 pts] , PSU [down 3.35pts]. Whereas the gainers are; Metals [up 81.87 pts], Capital Goods [up 90.17 pts], FMCG [up 26.89 pts], IT [up 72.15 pts], TECK [up 36.16 pts], Healthcare [up 96.94 pts], Power [up 21.85 pts]. World Indices Index Value % Change D J l 14,946.46 -0.43 S&P 500 1,656.78 -0.40 NASDAQ 3,657.57 -0.01 EURO STO 2,821.45 -0.16 FTSE 100 6,492.10 +0.70 Nikkei 225 13,595.68 -0.30 Hong Kong 21,941.24 -0.29 Top Gainers Company CMP Change % Chg SESA GOA 168.25 15.20 9.93 RANBAXY 401.35 16.85 4.38 JPASSOCIAT 35.50 1.65 4.87 BHEL 123.10 7.00 6.03 AMBUJACEM 164.95 5.40 3.38 Top Losers Company CMP Change % Chg IDFC 95.65 -9.10 -8.77 AXISBANK 931.00 -50.50 -5.15 ONGC 266.65 -10.05 -3.63 GAIL 295.00 -9.80 -3.22 Stocks at 52 Week’s high Symbol Prev. Close Change %Chg HCLTECH 944.95 -1.40 -0.15 TECHM 1,382.05 +15.85 +1.16 Top Losers Company CMP Change % Chg NIFTY 5,476.50 +4.75 +0.09 SENSEX 18,558.13 +38.69 +0.21 Stocks at 52 Week’s Low Symbol Prev. Close Change %Chg IDFC 94.65 -9.10 -8.77 PLETHICO 73.35 -3.85 -4.99 SOLARINDS 770.00 -46.95 -5.75
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DAILY REPORT
27th AUG. 2013
YOUR MINTVISORY Call us at +91-731-6642300
Global markets at a glance
Stocks in China advanced Monday, with the Shanghai Com-
posite jumping 1.9% to 2096.47 as the market continued
to be boosted by last week's approval of a free trade zone
in Shanghai. Hong Kong's Hang Seng Index rose 0.7% to
22005.32, with shares reacting to earnings reports
The Dow Jones industrial average declined 0.43 per cent,
the S&P 500 also looses 0.40 per cent, and the Nasdaq
Composite shown a little downside by 0.01 per cent.
In Shanghai, Chinese shares jumped 1.90 per cent, or
39.01 points, to 2,096.47, boosted by gains in financial
stocks and enthusiasm for plans approved last week to
create a free-trade zone in the city. Hong Kong closed 0.65
per cent, or 141.81 points, higher at 22,005.32.
Wall Street Update
Chinese stocks led Asia higher, with Shanghai companies at
the forefront, while the rest of Asia moved higher after
weak housing data from the U.S. tempered expectations
that the Federal Reserve will be quick to withdraw its bond
-buying program.
Previous day Roundup
The market starts the weak on a volatile note. The Nifty faced resistance at 5,500 and closes flat at 5476.50, up 4.75 points. The Sensex manages to add 39 points, ending the session at 18,558. About 1288 shares have advanced, 977 shares declined, and 156 shares are unchanged.
Index stats:
BANKEX and Bank Nifty both declined yesterday by 1.04 &
1.02% respectively. The sectors resulted downside were
Consumer Durables [down 2.81 pts], Oil & Gas [down
35.12 pts] , PSU [down 3.35pts]. Whereas the gainers are;
Metals [up 81.87 pts], Capital Goods [up 90.17 pts], FMCG
IDFC is looking weak on charts, short build up has been seen in it, we may see more downside in this stock, if it continues to sustain below 94 levels. We advise selling on rise around 95-97 with strict stop loss of 100 for TGT 93-91. 2. SESA GOA
SESA GOA is looking strong on charts, long build up has been seen in it, we may see more upside in this stock, if it continues to trade above 160. We advise buying on dips around 158-155 with strict stop loss of 152 for TGT of 162-167.
Kirloskar Cummins ltd is looking strong on charts, we may see more upside in this stock, if it trade above 390 levels. We advise buying above 390 levels with strict stop loss of 381 for the targets of 398-405 levels.
MACRO NEWS
Fitch ratings said it was getting more challenging for
India to meet its fiscal deficit target in the current fis-
cal year ending March 2014 with revenues slowing..
The current account deficit is likely to fall further to
USD 70 billion, foresees PMEAC chairman C Rangara-
jan. For year ended March, CAD deficit widened to
USD 87.8 billion, or 4.8 percent of GDP, from USD 78.2
billion in 2011-2012, or 4.2 percent of GDP.
Banks borrowed Rs 559 billion ($8.8 billion) from the
Reserve Bank of India's marginal standing facility (MSF)
window on August 23 for three-days, lower than the
Rs 582.85 billion on August 22.
The RBI had raised the MSF rate by 200 basis points to
10.25 per cent and also imposed restrictions on daily
STOCKS IN NEWS State-run Goa Handicraft and Rural Small Scale
Industries Development Corporation (GHRSSIDC) has signed an MoU with Coal India buy coal from its subsidiary.
Federal Bank seeks FIPB nod to raise foreign hold-ing limit.
Indian Oil will get cash payment for Q1 subsidy on September 17: Executive
NIFTY FUTURE
Nifty Future is facing strong resistance near 5525-5550 levels. We advise selling on rise near the 5525-5500 levels with strict stop loss of 5550 for the targets of 5450-5400 levels.
India has sold 350,000 to 400,000 tonnes of new-crop soy-
meal for shipment between October and December on
prospects of higher soybean production and a weak rupee
Asian Development Bank (ADB) will provide $18.4 million
to Champion Agro to set up cold storage facilities for fruits
and vegetables focusing on Gujarat.
A sudden spurt in domestic and overseas futures market lifted prices of imported edible oils here on Monday, de-spite month-end need-based demand.
Taking cues from Malaysian palm oil, local refineries raised their rates for palmolein and soyabean refined oil higher by Rs 15-20 respectively for 10 kg. Indigenous edible oils were mixed. On the Bombay Commodity exchange, pal-molein rose by Rs 8, soyabean refined oil by Rs 15 and cot-ton refined oil by Rs 7 for 10 kg due to lower demand. Groundnut oil declined by Rs 5 while sunflower and rape-seed oils ruled steady.
Pepper prices fell on Monday on reports of selling pres-sure. As prices crossed Rs 400-level and touched Rs 405 a kg, those who were holding the material started liquidat-ing. This phenomenon led to the price fall.
@86.2475. If EUR/INR sustains above the level of @86.50
then it can touch the level of @86.67 and @87.51 respec-
tively.
JPY/INR
JPY/INR (NSE/MCX-SX) has closed at the level of
@65.4025. If JPY/INR sustains above the level of @65.55, it
can touch the level of @66.21 and @66.73.
CURRENCY ROUNDUP
Indian rupee plunges to 64.20 per dollar in yesterday’s late morning trade. This follows good demand for the US cur-rency from banks and importers due to rise in crude oil prices. The rupee resumed lower at 63.65 per dollar against the last weekend's level of 63.20 at the Interbank Foreign Exchange.
CLSA expects the rupee to weaken to 67 to 68 per dollar mark by the end of fiscal year 2014. It also sees the rupee heading to at least 70 to 72 per dollar mark by fy15.
On the other hand, CRISIL believes that the rupee will head back to 60 per dollar by the end of fiscal year 2014.
CRISIL expects the currency to recover, helped by further narrowing of the current account deficit due to a decline in non-oil imports, including gold.
The rupee yesterday tumbled 110 paise to once again close below the 64 mark against the dollar, giving up a ma-jor part of Friday's gains amid heavy month-end dollar de-mand from importers and capital outflows.
A strengthening dollar overseas and late weakness in local stocks also put pressure on the rupee, a forex dealer said. Global ratings agency Fitch said India's fiscal numbers "look weak" and warned of a downgrade if the country is unable to meet the fiscal deficit target.
The dollar index was up by 0.08 per cent against a basket of six major global currencies after US Federal Reserve offi-cials wrapped up a yearly gathering appearing ready to start slowing the monetary stimulus next month. he Reserve Bank of India (RBI) was spotted selling dollars via state-run banks starting at around 64.70 rupee levels on Monday, three traders told Reuters, after the rupee had weakened through most of the session.
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PERFORMANCE UPDATES
Date Commodity/ Cur-
rency Pairs Contract Strategy Entry Level Target
Stop
Loss Remark
26/08/13 MCX GOLD OCT. BUY 31980 32040-32100 31890 NOT EXECUTED