Equity Report Outlook|24 carat financial services | 21 August 2017

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Equity tips:-


niftytips

  • Nifty future is looking bearish on the charts .In last trading session Nifty traded with negative movement and closed with overall loss of 0.60%. Nifty has breaches its important support mark of 9850 and sustaining below it. Nifty is taking support of its 50 day moving averages on daily charts @ 9780 if once it breaches this levels than further down side movement can be seen in it and it can test down side levels of 9740 & 9710 while up side 9870 will act as a good resistance level.

Banknifty

  • BANK NIFTY future is looking bearish on the charts .In last trading session Bank Nifty traded with negative movement and closed with overall loss of 0.69%. Bank Nifty has breached its important support level of 24200 and sustaining below it. Bank Nifty future is taking support of its 50 day moving averages on daily charts @ 24000 levels if once it breaches this levels than further down side movement can be seen in it and it can test down side levels of 23900 & 23800 while up side 2430 will act as a good resistance level. 

NIFTY & SENSEX

Infosys drags market; Nifty ends below 9,850:-

  • Markets were dominated by bears from the beginning of trade on Friday. The market traded in the negative territory following the resignation of Vishal Sikka from the post of MD and CEO of Infosys.
  • Infosys lost around Rs 28,000 crore in market capitalisation and dragged the Nifty index by 51 points on Friday.
  • BSE Sensex closed lower by 270 points or 0.85% at 31,524 levels and Nifty closed lower by 66 points or 0.67% at 9837 levels.
  • BSE IT index remained the top loser among the sectoral indices on BSE and NSE.

Weekly Recap:-

  •  In last 12 sessions, Nifty declined 430 pts from the top, rallied 254 pts from the bottom and the last couple of days saw markets giving away 130 pts from the top. 
  • Infosys MD& CEO – Vishal Sikka resigns, triggering a 10% decline in the stock.
  • Pharma stocks were under pressure as government’s initiative to make essential drugs more affordable has further dampened the sentiment dragging the pharma stocks lower. The draft if implemented will give the government greater role in deciding the medicines and medical devices to be added under price control. On the macro-economic front, Retail inflation jumped to 2.36% in July, chiefly driven by hardening of prices in sugar and confectionery items. After four straight months of easing, WPI picked up in July.

Index moves:-

  • Nifty: +1.3%, Sensex +1%.
  •  Cash market volumes: $18.3bn v/s $26 bn.

Closing Bell:-

      Gainers:-

      Infratel (+4%), 
      Eicher, HUL (+2%).  

      Losers:-

     Infy (-10%),
    Sun Pharma (-4%). 

      Infosys:-

      tumbles 9.5% after Sikka's resignation as MD and CEO.

     Power Grid:-

      Corp signs loan agreement with ADB. Stock up over 1%.

     BSE Telecom Index:-

      gains 1.5%. RCom, Infratel (+4%), Airtel, Idea, TTML (+1%).  

     Aarti Drugs:-

      Q1 FY18 (YoY): PAT at Rs 11 Cr (-43%). Revenue at Rs 277 Cr (-12%). Stock advances 1%. 

      Raymond:-

      stock shines 4% after buying remaining stake in JK Ansell Company.

      Sector Performances:-

     Best Weekly Performers: Real Estate (+6.6%), Metals (+5.4%), FMCG (+3.7%). Worst Weekly    
     Performers: IT (-1.8%), Communication Tech (-0.9%).

   What To Watch Out For :-

  • Vishal Sikka resigns as MD and CEO of Infosys. Appointed as executive vice-chairman. U B Pravin Rao appointed interim MD & CEO.   
  • HDFC to file HDFC Life Insurance DRHP with SEBI today. Plans to sell 9.57% stake in  subsidiary HDFC Life through IPO.
  • CBDT conducts massive operation against non-tax filers, as per media reports.  
  • Cabinet approves Budgetary Support Scheme under GST regime for industrial units in Jammu and Kashmir, Uttarakhand, Himachal Pradesh and Northeastern states. Barbeque Nation Hospitality files draft IPO papers with SEBI.

  

           FII & DII ACTIVITY:-

  •  FII (Cash) - net sell Rs 2182 cr .
  •  DII (Cash) - net buy Rs 585 cr .
  •  FII (INDEX FUT) - net sell Rs 385cr .
  •  FII (INDEX OPT) - net sell Rs 1442cr .
  •  FII (STOCK FUT) - net sell Rs 664cr .
  •  FII (STOCK OPT) - net sell Rs 112cr. 

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