Monday, 19 September 2016

Nifty above 8800, Sensex flat; Infosys down 1%, banks up

Infosys is down on guidance downgrade scare. Maruti, Lupin, TCS and Bharti are losers. 

9:55 am Guidance: Infosys may slash its revenue guidance for the second time this fiscal, stung by "risks" like challenges in the banking and financial services sector and cancellation of projects.

However, in the short term, the Bengaluru-based company remains confident of a "better" second quarter compared to the April-June, 2016 period. "We see that our Q2 growth is going to be higher than Q1 growth. But we do see risks that would get us toward territory of downward revision of guidance because the atmosphere during the course of Q2 has worsened compared to what we saw in the beginning of Q2, you see the example of RBS," Infosys CEO Vishal Sikka said at the JP Morgan India Investor Summit.

9:45 am Buzzing: ICICI Bank shares gained a percent intraday Monday as the Rs 6,057-crore IPO of ICICI Prudential Life Insurance opened for subscription with a price band of Rs 300-334 per share today.

The country's largest private sector lender held 67.52 percent stake and Prudential Corporation Holdings 25.83 percent stake in the insurance company. Azim Premji also has 4 percent stake and Temasek owns 2 percent in the company.

It is an offer for sale by ICICI Bank. Hence, its shareholding in the insurance company may reduce to around 55 percent from current after the issue.

9:30 am FII view: Mixo Das of Nomura says all eyes are on the September 21 Federal Reserve/Bank of Japan meetings. STOCK FREE TIPS

He thinks chances of a 2016 Fed rate hike have fallen below 50 percent. With many risk events ahead and market valuations still close to 5-year highs, he says he is not keen to be dip buyers here.

Das maintains a neutral stance on Asian equities. Within that, he switched China position to overweight and Malaysia to neutral.

Don't miss: Buy, sell or hold: Analysts pick 3 stocks for your portfolio 

The market has opened flat with banks doing well. The Sensex is up 54.51 points or 0.2 percent at 28653.54, and the Nifty up 24.20 points or 0.3 percent at 8804.05.

About 765 shares have advanced, 228 shares declined, and 47 shares are unchanged.

Infosys is down on guidance downgrade scare. Maruti, Lupin, TCS and Bharti are losers.

ICICI Bank, SBI, Tata Motors, GAIL and Bajaj Auto are top gainers in the Sensex.

The Indian rupee opened marginally higher by 3 paise at 66.95 per dollar on Monday versus 66.98 Friday.

Pramit Brahmbhatt of Veracity said, "A weak dollar versus peers and positive cues from global equity market will help the rupee appreciate today. The trading range for the day is seen between 66.80-67/dollar."

The US dollar hit a more than two-week high against a basket of major currencies on Friday after US inflation data boosted bets on a faster pace of Federal Reserve interest rate hikes, while uncertainty ahead of a Bank of Japan meeting limited the dollar's gains against the yen.

Caution gripped Asian shares ahead of central bank meetings in the United States and Japan this week, while oil prices bounced on talk of an OPEC deal on output and reports of fighting around Libyan oil ports.

Investors are counting down to the Federal Reserve's Open Market Committee meeting September 20-21, with chair Janet Yellen holding a news conference on Wednesday.


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#Performance of the Day (19th Sept 2016)

#Equity Profit Buzz Performance (19th Sept 2016)
1. TVSMOTORS (Profit Rs.4.50/share)
2. CIPLA (Exited at cost)

#Derivative Profit Buzz Performance (19th Sept 2016)
1. TVSMOTORS (Profit Rs.9000/Lot)
2. CIPLA (Exited at cost)

#Nifty Profit Buzz Performance (19th Sept 2016)
3. BANKNIFTY (Profit Rs 2200/Lot)
4. NIFTY (Profit Rs 1875/Lot)

#Option Profit Buzz Performance (19th Sept 2016)
1. RELCAP 580CE (Profit Rs.3750/Lot)
2. CESC 660CE (Loss Rs 4400/Lot)

#Multi Profit Buzz Performance (19th Sept 2016)
1. TVSMOTORS (Profit Rs 4.50/share & Rs 9000/Lot)
2. CIPLA (Exited at cost)
3. #BANKNIFTY (Profit Rs 2200/Lot)
4. NIFTY (Profit Rs 1875/Lot)
5. RELCAP 580CE (Profit Rs.3750/Lot)
6. CESC 660CE (Loss Rs 4400/Lot)

kailash soni said...

Equity Market closed rangebound session on a optimistic note Monday tracking the rally in worldwide peers in front of central bank meetings in the US and Japan. The 50-script NSE Nifty held mental 8800 range throughout the session, gain 28.55 points at 8808.40. Share Brokers Recommended Voltas is a buy with a stop loss of Rs 380, goal of Rs 405. One just hold ICICI Bank and have SL somewhere closer to Rs 240 or Rs 247. I believe it is going to come to Rs 300 it may take it own good time."

Shritika Dixit said...

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