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Positive global cues and good Indian economic figures kicked off the December series on a strong footing. The Sensex closed at 19363, up 359 points while Nifty closed at 5762, up 128 points from the previous close. The BSE Midcaps Index was up 2.2% and BSE Smallcaps Index up 1.3% and all the other sectoral indices were also in the positive with big gains. The market breadth closed positive with advances at 815 against declines of 378 on the NSE.
The market saw some volatility and consolidation during the week. The weekly figures are: Sensex and Nifty up 2.5%, BSE Midcaps up 4.8%, BSE Smallcaps up 3.4%, BSE Realty up 8%, BSE Bankex up 4.6%, BSE Metals up 7%, BSE Capital Goods and BSE IT both up 5% and BSE Auto Index up 4%
The European markets opened in the positive and Asia was trading weak. Again the Indian market is outperforming its global peers. The Sensex is up nearly 400 points and the Nifty150 points. The Sensex is at 19397, up 393 points while Nifty is at 5770, up 135 points from the previous close. The market breadth is positive with advances at 818 against declines of 366 on the NSE.
The market continues to hold on to its gains. The Sensex is at 19286, up 283 points while Nifty is at 5740, up 105 points from the previous close. The market breadth is positive with advances at 811 against declines of 366 on the NSE.
GAIL has capex plans of Rs 30,000 crore over the next 5 years, says Dr UD Choubey, CMD of the company. GAIL has entered into an MoU with RIL and ONGC for gas transfer. The company expects a turnover of Rs 5000 crore from Panna, Mukta and Tapti fiels, he adds. The stock is currently trading at Rs 427, up 2.1% on the BSE.
Cement price hike is likely as post monsoon demand for cement goes up, reports NDTV Profit. Cement prices are likely to be raised to Rs 5/bag. The BSE Realty Index is up 3.24%. India Cements is up 4.5%, trading at Rs 295 and Prism Cement is up 0.3%, at Rs 60 on the BSE.
The Asian markets opened in the positive. The Shanghai Index is witnessing pressure and trading in the negative, down 2.5%. The Indian market is trading strong. The Sensex is currently trading at 19367, up 364 points while Nifty is at 5770, up 135 points from the previous close. The BSE Midcaps Index is very strong, up 3%. The market breadth is strong with advances at 849 against declines of 341 on the NSE.
RPL can go up to Rs 500 in the coming 2-3 years, says Ashu Kakkar, technical analyst, on NDTV Profit. But for the time being, it is expected to remain rangebound between Rs 160 and Rs 230
HDFC will be able to sustain 25% growth over the next few years, says Keki Mistry, CFO of the company, on CNBC TV18. Interest rates will be softer in the next 3-6 months, he says. The average value of a loan is Rs 12 lakh and almost 95% of loans are for end users, he adds. The stock is currently trading at Rs 2789, up 3% on the BSE. Keki Mistry was awarded the Best Performing CFO in the Financial Services.
The market is adding to its gains. The Sensex is up 312 points from the previous close, at 19,316. Nifty is at 5754, up 120 points. Market breadth is firm. Top Sensex gainers include DLF, Reliance Energy and HDFC Bank, while losers include Ambuja Cements, HUL and Bajaj Auto.
As long as the Nifty stays above 5700, it is good for the markets, says Anu Jain, technical advisor, on CNBC-TV18. The more the Nifty consolidates between 5700 and 5770, the better, she adds. But if it falls below 5700, then the market could see further weakness.
The first half of calendar year 2008 is expected to be weak for the Indian market and that will be a good time to buy, says Girish Pai of ICICI Securities, on CNBC-TV18. Slower US growth and higher risk aversion is expected and therefore more money will flow into emerging markets and even India, of course, he explains. The market may see about 15% correction from 20,000 levels
The market needs to consolidate in the 18,000-20,000 range, says Falguni Nayar of Kotak Mahindra Capital, on CNBC-TV18. The overall view on the market for now is flattish, she adds. There have been net FII outflows on the P-notes issue, but domestic fund flows have been higher, which have been driving the current performance
The market is holding on to its gains. Sensex is at 19,196, up 193 points from the previous close. Nifty is at 5717, up 82 points. The BSE Midcap and Smallcap indices are up 1.6% and 1% respectively. All BSE sectoral indices are trading higher, with metal and realty stocks witnessing maximum demand.
DLF is certainly a hold for the long term, irrespective of whether real estate prices go up or down, says Shahina Mukadum of IDBI Capital, on CNBC-TV18. If real estate prices rise, the company benefits, but even if it falls, the company adds to its land bank, she explains. So it benefits both ways. The company also has space where slightly softer margins can be absorbed, she says. If you have a three-year perspective, it is a good buy at current levels.
The Sensex may touch 25,500 by December 2008, says Girish Pai of ICICI Securities, on CNBC-TV18. So the brokerage is bullish on the market with a year's perspective, he adds. The Sensex target is based on 21 times one-year forward PE, he explains. The brokerage also expects earnings growth and PE multiple expansion, he says. The Sensex may trade in rhe range of 17,000-26,000 over the next one year.
GDP for Q2 has been recorded at 8.9% versus 10.2%, YoY, reports CNBC-TV18. Q2 Manufacturing growth is at 8.6% versus 12.7%, YoY. Q2 Industry growth is at 9.1% versus 11.3%, YoY. Farm growth is at 3.6% versus 2.9% and Mining growth is at 7.7% versus 3.9%, YoY. Construction growth is unchanged at 11.1%.
The market has opened on the higher side on Friday. Sensex is at 19,171, up 168 points from the previous close. Nifty is at 5698, up 63 points.
UTV has cleared that the news report about Walt Disney is eyeing the management control is speculative, reports CNBC-TV18. The news is incorrect and baseless, the management said. But the company is in advanced talks for strategic, financial investors in broadcasting venture, they said. The stock is currently trading at Rs 823, up 2.8% on the BSE.
It was almost a flat closing for the market today. The Sensex closed at 19003, up 64 points while Nifty closed at 5634, up 17 points from the previous close. The BSE Midcaps closed in the negative while the BSE Smallcaps Index was up by just 0.1%. The BSE Bankex was up over 2%, BSE Consumer Durables Index up 1.7%, BSE Oil & Gas Index up 1.1% and BSE Realty Index up 1.5%. The Sensex gainers included RPL, Reliance Industries, HDFC Bank and ICICI Bank while losers included Reliance Communications, Tata Steel, ONGC and Hindalco.
The market is in a consolidation stage and likely to trade in a range of 18,000-20,000 in December, Milind Pradhan of UTI Securities, on CNBC TV18. The Q3 results in the second week of January may be the next trigger for the market after which we may see 20,000.
The European markets are trading firm, expecting a US Federal rate cut and global banking stocks have rebounded. The Indian market has turned slightly volatile. The Sensex is currently trading at 19010, up 71 points while Nifty is at 5637, up 16 points from the previous close. The BSE Midcaps Index is trading in the negative
Educomp Solutions has launched a new IP system called Millenium System, says Shantanu Prakash, MD of the company, on CNBC TV18. The company has signed an MoU with Raffles System of Singapore. It plans to launch 5-7 schools by June 08, 20-25 schools by June 09, he adds. The stock is currently trading at Rs 3400, up 5.5% on the BSE.
Glaxo SmithKline C is likely to see 25% returns in the next 12 months, says Hitesh Agarwal of Angel Broking, on CNBC TV18. The companyÿs two leading brands, Horlicks and Boost, have maintained market share through innovative marketing strategies. The company is expected to launch newer products with assistane from its global parents. The stock is currently trading at Rs 685, up 0.75% on the BSE.
The market is still trading higher, though off the day's highs. Sensex is currently at 19,168, up 227 points from the previous close. Nifty is at 5671, up 54 points. All BSE sectoral indices are trading in the positive terrain. Banking, metal and realty stocks seem to be the most popular.
Global cues are largely being tracked now and this may be the last leg of the bull run, says Anil Singhvi of Notz Stucki, on CNBC-TV18. He expects the Fed to cut interest rates by 25 bps in December. But if it does not, then profit booking might come in, he adds. Key concerns for the Indian market include politics, US & global slowdown and a populist budget.
The market has opened on the higher side Thursday. Nifty is at 5717, up 100 points from the previous close. The Sensex is currently trading at 19,293, up 354 points.
If Mundra Port stabilises around Rs 850, then you can look at buying it for the long term, says Sandeep Shenoy of PINC Research, on CNBC Awaaz. This is a listed port and SEZ company, which is a very good combination.
In the capital goods space, BHEL and L&T look good as investment opportunities, says Rahul Mohindar, technical analyst, on CNBC Awaaz. In fact, BHEL can go over Rs 3,000 in the medium term, he says. It is currently trading at Rs 2,747.90, up 0.9% on the BSE.
In the media space, PVR can appreciate another 30-35% in the medium term, says Rahul Mohindar, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 303, up 3.2% on the BSE.
Wednesday, November 28, 2007
Weak global cues depressed Indian markets that closed on a lackluster note. The Sensex closed at 18938, down 188 points while Nifty closed at 5617, down 80 points from the previous close. The BSE Metal Index was down 3% (Tata Steel, Nalco, SAIL were all down), the BSE Oil & Gas Index was down by 2.5%, BSE Bankex was down 1.25% and BSE IT Index was down 1%. The BSE Midcaps and Smallcaps Index both closed in the negative. The NSE gainers included Maruti Suzuki, Bajaj Auto, BHEL and ITC while losers included BPCL, Siemens, Suzlon and ACC.
Nifty has strong support at 5500-5520 and Sensex at 18700-19500, says Sandeep Wagle, technical analyst, Angel Broking, on Zee Business. The market will continue to move sideways in December and sound stocks in the banking and capital goods space should be accumulated on dips
The market is looking choppy.
The Sensex is currently trading at 18982, down 145 points while Nifty is trading at 5630, down 67 points from the previous close.
The BSE Midcaps Index is cracking and trading in the negative, down almost 1%. The market breadth has turned negative with advances at 527 against declines of 659 on the NSE.
In the metal space, Hindalco and Nalco can be added into the portfolio on dips for long-term returns, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. Hindalco is currently trading at Rs 188, down 1.4% and Nalco at Rs 359, down 5.4% on the BSE.
The Asian markets are still looking weak and the Indian market is also shedding some gains. The Sensex is currently trading at 19214, up 84 points while Nifty is in the negative, trading at 5594, down 3 points from the previous close. The market breadth is positive with advances at 748 against declines of 443 on the NSE.
RPL can be bought at dips, at around Rs 185-180, says Gaurang Shah of Geojit Financial Services, on Zee Business. The stock is currently trading at Rs 193.70, down 2.2% on the BSE.
Karvy Stock Broking has upgraded Ranbaxy to outperformer and has put a target price of Rs 487 on it, reports CNBC Awaaz. The stock is currently trading at Rs 397.10, up 0.6% on the BSE.
The market has opened on the higher side on Wednesday. The Sensex is currently at 19,287, up 160 points from the previous close. Nifty is at 5747, up 49 points.
The intermediate downtrend in the market still continues, says E Mathew, technical analyst, on CNBC-TV18. The market is still in a corrective phase. The Nifty has huge resistance at 5780-5800, he adds.
Essar Oil is showing strength on the monthly charts, says Anil Maghnani, technical analyst, on CNBC Awaaz. The next target price for the stock is at Rs 270,
The market is expected to remain rangebound and the Sensex may trade between 18,300 and 20,200 for the next one month, says Jignesh Shah, technical analyst, on NDTV Profit.
The market will see a lot of consolidation happening for some time now and new buying will come in sectors like auto, textiles, etc, he says. Midcaps will continue to outperform for the next two months atleast.
The Sensex closed at 19127, down 119 points while Nifty at 5698, down 33 points from the previous close. The BSE Midcaps Index closed in the positive. The market breadth was negative with advances at 519 against declines of 675 on the NSE.
The Nifty gainers included BPCL, Hindustan Petroleum, BHEL, Bajaj Auto and Tata Motors while losers included Tata Power, Bharti Airtel, RPL, ICICI Bank and NTPC.
Tuesday, November 27, 2007
The Sensex is at 19,099, down 148 points from the previous close. The BSE 30-share index had touched an intra-day low of 19,019 in trade so far. Nifty is at 5688, down 41 points. BSE Midcap and Smallcap indices are also down marginally. All BSE sectoral indices, except auto and metal, are trading in the negative terrain.
Punj Lloyd has support at Rs 340 and resistance at Rs 540, says Vijay Bhambwani, techncial analyst, on CNBC Awaaz. But once the stock crosses the resistance with good volumes, it will be a start to a new long term uptrend, he says. He suggests holding the stock for the next 4-6 quarters.
Voltas is in an uptrend and has support at Rs 220, says Hormuz Maloo, technical analyst with Geojit Financial Services, on NDTV Profit. The stock can go up to Rs 280-285, if the bullish trend sustains, he adds. It is trading at Rs 232.95, down 1.1% on the BSE.
The market is still trading lower. But the Sensex is still holding on to the 19,000 levels and is currently at 19,110, down 136 points from the previous close. Nifty is at 5686, down 45 points. All BSE sectoral indices, except for auto and consumer durables, are trading in the negative terrain. Market breadth is negative, with advances at 444 versus declines at 704 on the NSE.
Telecom and infrastructure rally may be a little overdone in the short term, say market experts from Enam, on CNBC-TV18. The US markets and dollar seem to be oversold, therefore they may see a bounceback, they say. The long term bull story in financial services is intact, but for now, valuations look stretched in this space, they say.
The markets continue to trade weak today in line with its global peers. Power, banking anf realty stocks are still weak. All the key BSE indices are in red and the breadth today has been negative.
At 10.20 hrs IST, the Sensex is down 146.65 points or 0.76% at 19100.89, and the Nifty down 24.80 points or 0.43% at 5706.90. About 1372 shares have advanced, 1619 shares declined, and 86 shares are unchanged.
Top gainers on the Sensex are SBI at Rs 2,266 up 1.06%, Bajaj Auto at Rs 2,600 up 0.49% and ITC at Rs 188 up 0.35%.
Top losers on the Sensex are ICICI Bank at Rs 1,133.70 down 2.07%, HDFC Bank at Rs 1,614 down 1.81%, Reliance Energy at Rs 1,758.80 down 1.72%.
Top gainers on the Nifty are SBI at Rs 2,261 up 0.79%, Bajaj Auto at Rs 2,602.10 up 0.65% and ITC at Rs 188.50 up 0.43%.
Top losers on the Nifty are Reliance Petro at Rs 195.60 down 4.14%, NALCO at Rs 369 down 3.64% and ICICI Bank at Rs 1,131.25 down 2.21%
Most active shares on BSE are Mundra Port at Rs 957.40 with 3,211,210 shares, Axis Bank at Rs 949 with 954,308 shares and Reliance Petro at Rs 195.50 with 3,263,546 shares.
The market has opened slightly lower on Tuesday.
The Nifty is in a trading range of 5500-6000, says Sudarshan Sukhani, technical analyst, on CNBC-TV18. And whenever an index is in a trading range, it hits both the levels, he explains. Since it has hit 5500, the next move should be towards 6000, he says. But if the Nifty fails to do so, then you can say that the momentum on the upside is being lost day by day, he adds. He expects weakness in the next series.
In the midcap banking space, Karnataka Bank, DhanaLakshmi Bank and Lakshmi Vilas Bank look good, as they can possibly be takeover targets in FY09, says Ambareesh Baliga of Karvy Stock Broking, on Zee Business.
The Asian markets closed in the positive and taking global cues the Indian market also closed on a good note. The Sensex closed at 19247, up 394 points while Nifty closed at 5731, up 123 points from the previous close.
The BSE Midcaps and Smallcaps Index both closed in the positive, up nearly 1.8%. The market was powered by the BSE Metal Index that was up by 6.3%. The BSE Power and BSE Bankex also reported good gains.
The market breadth was positive with advances at 818 against declines of 374 on the NSE. The Nifty gainers included Nalco, SAIL, HDFC Bank and Unitech and losers included RPL, Siemens, MTNL and Tata Motors.
The markets are trading extremely strong with impressive breadth. Capital goods, power, banking, realty and metals stocks are trading with significant gains.
At 11:00, the Sensex is up 444.23 points or 2.36% at 19297.10, and the Nifty up 137.85 points or 2.46% at 5746.45. About 2260 shares have advanced, 742 shares declined, and 74 shares are unchanged.
Top gainers on the Nifty are HDFC Bank at Rs 1,653 up 5.78%, Unitech at Rs 356.65 up 5.10% and HPCL at Rs 291.30 up 5.09%.
The only loser on the Nifty was Hero Honda at Rs 709 down 0.75%.
Most active shares on NSE are Reliance Petro at Rs 215.90 with 16,316,023 shares, Reliance at Rs 2,877.25 with 746,854 shares and Jindal Steel at Rs 12,790 with 113,515 shares.
BSE metal index was trading very strong with over 3.5% gain. major gainers in this counter were Jindal Steel, Nalco, Jindal Saw and Sterlite Inds.
In the realty space, the top gainers were Anant Raj Inds, Unitech, Ansal Properties and DLF.
IT stocks are attracting some attention on the back of marginal depreciation of rupee against dollar. Major gainers in the sector were TCS, Patni Comp, Satyam and Wipro.
Mkts open with gap up on strong global cues
The markets opened with huge gap up today on strong cues from the global markets. Heavy buying was seen in the banking, cap good, and power stocks in the early trade. Empee Distilleries got listed on the bourses today atRs 440 versus its issue price of Rs 400.
At 9:56 am, Sensex was up 376 points at 19230 and Nifty was up 113 points at 5722. Major gainers in the early trade were Rel Energy, RIL, L&T, ICICI Bank, NTPC, Unitech, HDFC Bank, DLF, ONGC, PNB, L&T and SBI.
Asian markets advanced today. Hong Kong's Hang Seng surged 3.25% or 863.33 points at 27,404.42, Japan's Nikkei gained 1.31% or 195.34 points at 15,084.11, Taiwan's Taiwan Weighted advanced 1.86% or 155.40 points at 8,497.60, Singapore's Straits Times rose 2.21% or 73.42 points at 3,399.31 and South Korea's Seoul Composite was up 3.06% or 54.20 points at 1,827.08
The 2008 Sensex fair value is at 16,000, says a market expert from DSP Merrill Lynch, on CNBC-TV18. The market will consolidate before the final run into the bubble phase, he says. The brokerage's picks include BHEL, JP Associates, ICICI Bank and Bharti, he says. The brokerage has also given a sell rating to Tata Motors, RPL, Hindalco, MTNL and Pantaloon.
UBS has upgraded SBI to 'buy' and has given a target price of Rs 2,650, reports NDTV Profit. The stock is currently trading at Rs 2,285, up 1.5% on the BSE.
A gap up opening is expected for the market today, says an NDTV Profit Poll. But it may consolidate at higher levels. Nifty range for the day is expected to be 5600-5695. Stocks to watch today are RIL, SBI, Reliance Communications and ABB.
The market has opened on the higher side on Monday. Currently, the Sensex is at 19,256, up 403 points from the previous close. Nifty is at 5722, up 114 points.
We believe the tide has turned in favour of housing finance companies like LIC Housing Finance (LICHF) following the recent RBI guidelines to commercial banks to slowdown their house financing activity, and the favourable macro environment. LICHF, with its singular focus on financing of homes, is set to witness a surge in both volumes and profitability. We forecast a 28% CAGR in bottom line to Rs 455 crore over FY07-09E.
ƒ Growth in advances, margin expansion to enhance profitability The RBI’s directive to commercial banks to reduce focus on housing finance will benefit focussed players like LICHF. We expect the company to post a healthy 22% CAGR in advances over FY07-FY09E. Already during H1FY08, sanctions and disbursements grew by 48% and 25% respectively. Further, its significant exposure to retail book will help in registering healthy yields, which we believe will reach 10% levels in FY08E, and 10.11% in FY09E.
New initiatives to boost fortunes in the long run LICHF has unveiled a series of initiatives. It plans to foray into reverse mortgage; has floated a wholly owned subsidiary, LICHF Cares Homes, and has also inked a credit card venture with its parent. With a robust infrastructure and distribution & network channel, we believe the company is in a sweet spot to leverage on emerging opportunities. Valuations LICHF's net profit grew 33% to Rs 279.1 crore in FY07 from Rs 208.5 crore in FY06. Its ROA is expected to improve to 1.8% in FY08E from 1.4% in FY06. Assuming a ROE of 18%-19%, even after factoring in the equity dilution, we arrive at a fair value of Rs 402 per share, 1.6x its FY09E ABV. At the current price of Rs 374, the stock is trading at 1.5x its FY09E ABV. LICHF also has a 39.3% stake in LIC MF AMC. As on Oct 31, 2007, the AMC's AUM amounted to Rs 16,245 crores. This translates into Rs 46 per share of LICHF. Adding all these gives us a target price of Rs 448, an upside of 20% over a 12-15 month period. A private placement of around Rs 500 crore, expected by end of December, may provide a further trigger to the stock.
