DAILY REPORT 27 th SEPT. 2013 YOUR MINTVISORY Call us at +91-731-6642300 Global markets at a glance Stocks slumped in China and rallied in Japan while Europe’s benchmark index closed little changed. Japan's Nikkei share average edged down in choppy conditions as the market turned its focus to the government's growth strategy and tax plans next week, while strong consumer inflation data had little impact. The Nikkei shed 0.1 % to 14,792.38 in mid-morning trade after opening a tad higher and now trading downside along-with HengSeng which is also down. Wall Street Update U.S. stocks rose, with the Standard & Poor’s 500 Index re- bounding following its longest losing streak of the year. The S&P 500 (SPX) climbed 0.3 % to 1,698.67 at 4 p.m. New York time following a five-day slump. The index pared a gain of as much as 0.7 % amid concern lawmakers will fail to reach a budget compromise to avert a government shutdown. Previous day Roundup Nifty ended the September series up 8.7 % while the Sen- sex was up 8.2 %. The day ended on a very flat note with the Nifty at 5882.25 up 8.40 points or 0.14 %. The Sensex closed up 37.61 points or 0.19 % at 19893.85. About 1173 shares have advanced, 1116 shares declined, and 154 shares are unchanged. BSE MIDCAP index closed at 5627.58 with the gain of 11.45 points and BSE SMALLCAP index closed at 5479.62 with the gain of 30.98 points. Index stats Bank Nifty & Bankex both advanced 0.16% & 0.05% re- spectively, the sectors which were in positive move with Nifty in yesterday’s session were; PSU [up 6.41pts], Metals [up 47.99pts], Capital Goods [up 50.15pts], AUTO [up 10.65pts], Healthcare [up 79.34pts], FMCG [up 38.38pts]. Power [up 12.70pts] traded upward. The sectors declined were: IT [down 20.50pts], Oil & Gas [down 96.49pts], TECK [down 9.83pts], REALTY [down 7.48pts] and Consumer Durables [down 58.79pts]. World Indices Index Value % Change D J l 15,328.30 +0.36 S&P 500 1,698.67 +0.35 NASDAQ 3,787.43 +0.70 EURO STO 2,922.99 -0.15 FTSE 100 6,565.59 +0.21 Nikkei 225 14,790.66 -0.06 Hong Kong 23,120.56 -0.02 Top Gainers Company CMP Change % Chg BHEL 151.15 8.00 +5.59 TATA STEEL 301.30 10.20 +3.50 JPASSOCIAT 38.45 1.25 +3.35 COALINDIA 303.45 8.40 +2.85 SUNPHARMA 582.00 13.00 +2.28 Top Losers Company CMP Change % Chg JINDALSTEL 237.00 8.00 -3.27 AMBUJACEM 184.00 4.90 -2.59 PNB 474.10 10.75 -2.22 GAIL 328.00 6.50 -1.94 RELINFRA 401.50 6.60 -1.62 Stocks at 52 Week’s high Symbol Prev. Close Change %Chg CHMAHENDRA 220.00 0.30 +0.14 DRREDDY 2,462.95 33.85 +1.39 ENIL 284.00 10.20 +3.73 FOURSOFT 32.55 1.65 -4.82 GALLISPAT 218.00 10.10 +4.86 Indian Indices Company CMP Change % Chg NIFTY 5,882.25 +8.40 +0.14 SENSEX 19,893.85 +37.61 +0.19 Stocks at 52 Week’s Low Symbol Prev. Close Change %Chg CHENNPETRO 54.65 2.10 -3.70 KOTHARIPRO 310.30 0.30 -0.10
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DAILY REPORT
27th SEPT. 2013
YOUR MINTVISORY Call us at +91-731-6642300
Global markets at a glance
Stocks slumped in China and rallied in Japan while
Europe’s benchmark index closed little changed. Japan's
Nikkei share average edged down in choppy conditions as
the market turned its focus to the government's growth
strategy and tax plans next week, while strong consumer
inflation data had little impact.
The Nikkei shed 0.1 % to 14,792.38 in mid-morning trade
after opening a tad higher and now trading downside
along-with HengSeng which is also down.
Wall Street Update
U.S. stocks rose, with the Standard & Poor’s 500 Index re-
bounding following its longest losing streak of the year.
The S&P 500 (SPX) climbed 0.3 % to 1,698.67 at 4 p.m.
New York time following a five-day slump. The index pared
a gain of as much as 0.7 % amid concern lawmakers will
fail to reach a budget compromise to avert a government
shutdown.
Previous day Roundup
Nifty ended the September series up 8.7 % while the Sen-
sex was up 8.2 %. The day ended on a very flat note with
the Nifty at 5882.25 up 8.40 points or 0.14 %. The Sensex
closed up 37.61 points or 0.19 % at 19893.85. About 1173
shares have advanced, 1116 shares declined, and 154
shares are unchanged. BSE MIDCAP index closed at
5627.58 with the gain of 11.45 points and BSE SMALLCAP
index closed at 5479.62 with the gain of 30.98 points.
Index stats
Bank Nifty & Bankex both advanced 0.16% & 0.05% re-
spectively, the sectors which were in positive move with
Nifty in yesterday’s session were; PSU [up 6.41pts], Metals
[up 47.99pts], Capital Goods [up 50.15pts], AUTO [up
STOCK RECOMMENDATIONS [FUTURE] 1. JINDAL STEEL AND POWER
JINDAL STEEL AND POWER is looking weak on charts, short
build up has been seen, we may see more downside, if it
continues to sustain below 240. We advise selling below
240 levels with strict stop loss of 245 for the targets of 235-
230.
2. BHEL
BHEL FUTURE is looking strong on charts, long build up has
been seen, we may see more upside, if it continues to sus-
tain above 145. We advise around 145-146 levels with strict
stop loss of 140 for the targets of 148-150.
STOCK RECOMMENDATION [CASH] 1. ABG SHIPYARD LTD
ABG SHIPYARD LTD is looking strong on charts . We advice buying above 300 with strict stop loss of 285 for the targets of 305-315-335 levels. MACRO NEWS
The proposed external committee will look into new
bank license applications once RBI completes the basic
scrutiny, Tata Sons, India's biggest business group, and
firms controlled by billionaires are among the 26 enti-
ties that applied for bank licenses last month. Among
public sector units, India Post and IFCI have submitted
applications. Micro finance institutions such as Band-
han Financial Services and Janalakshmi Financial, too,
have expressed their intention to set up banks.
House Republican leaders offered a proposal today to
increase the U.S. debt ceiling that drew protests from
some members as a dispute over federal spending risks
a government shutdown in four days, over the budget
on Oct. 1. Focus will also turn to U.S. jobs data due next
STOCKS IN NEWS Power Finance Corporation invites initial bids for Odisha, Tamil Nadu ultra mega power projects. CVC may close complaints of irregularities in Jet-Etihad deal. Irda levies Rs 5 lacs fine on Punjab & Sind Bank. HUL spreads its wings to retain edge with projects Tele-calling, Columbus.
NIFTY FUTURE
Nifty Future closed in the red in the last trading ses-sion. We advise selling on rise around 5900-5925 with strict stop loss of 5980 for the targets of 5850-5820 levels.
GBP/INR has closed @100.3475. If it breaks the level of 100.25, it can touch the level of 100.00 & 99.51. If it sus-tains above the level of 101.05, it can touch the level of 101.36 & 101.62. USD/INR
USD/INR has closed @62.5625. If it breaks the level of 62.45, it can touch the level of 62.25 & 61.90. If it sustains above the level of 63.05, it can touch the level of 63.35 & 63.58.
CURRENCY ROUNDUP
The dollar held firm in early Asian trade after U.S. jobless
claims figures pointed to a improving labor market, reviv-
ing expectations of a reduction in U.S. monetary stimulus.
The dollar held onto modest overnight gains in Asia.
Stung by the rupee's recent collapse, the Reserve Bank of
India (RBI) is taking a carrot-and-stick approach to curb
trade in the offshore forwards market that is seen as a key
source of wrenching currency volatility. However, with no
viable alternative to trading in non-deliverable forwards
(NDF) involving the rupee, the strategy is likely to have
only a limited impact. The RBI recently met with a handful
of foreign banks and asked them to stop acting as market-
makers for rupee NDFs.
At the same time, it has held out the promise of easing
restrictions to allow greater participation in the onshore
forex market by overseas participants. The offshore mar-
ket in the partially convertible rupee has flourished, with
average daily trading volumes rising to about USD 5 billion
a day earlier this year from a few hundred million dollars in
2006.
Offshore rupee volumes have fallen by roughly half since
then, while the rupee has also stabilized somewhat. Vol-
umes in other emerging market NDFs have also fallen amid
recent emerging market weakness.
Central banks risk sparking new crises by keeping their
loose policy in place for too long. There is a danger of bub-
bles forming around the globe, due to easy monetary pol-
icy implemented to steer the world back into a more ro-
26/09/13 SPARC CASH BUY 133 138-145 127 NOT EXECUTED
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TIME (ET) REPORT PERIOD ACTUAL CONSENSUS FORECAST PREVIOUS
FRIDAY, SEPT.27
8:30 am Personal income Aug. 0.3% 0.1%
8:30 am Consumer spending Aug. 0.3% 0.1%
8:30 am Core PCE price index Aug. 0.1% 0.1%
9:55 am UMich consumer sentiment index Sept. 77.5 76.8