Equity Report Outlook|24 carat financial services | 25 September 2017

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Equity tips:-

NIFTY:-

                                  Markets recover in closing hour; Nifty settles at 9,872

  • Nifty ended at 9,872 level, down by 91 points, while Sensex closed at 31,626 level, down by 295 points on Monday. The 50-stock index remained subdued through the day but started recovering marginally in the closing hour.
  • There were 341 advances, 1,341 declines and 296 unchanged stocks on NSE, reflecting strong negative sentiments floating in the market. India VIX ended higher by 3.98% at 13.32 level. 
  • HDFC twins and ITC contributed the most to the losses of major benchmark indices. HDFC Bank closed at Rs 1,801.7 per share, down by 1.25%; HDFC closed at Rs 1,752.95 per share, down by 1.66% while FMCG heavyweight, ITC Limited closed at Rs 261.8 per share, down by 2.4%.
  • In the broader markets, BSE Mid-cap index closed at 15,444 level, down by 165 points while BSE Small-cap index closed at 15,977 level, down by 315 points. Bank Nifty ended at 24,165 level, down by 203 points or 0.84%. Federal Bank was the top loser in the index closing at Rs 111.4 per share, down by Rs 2.45 per share or 2.15%.
  • Nifty Realty index was the top loser among the sectoral indices on NSE. The index ended at 264.4 level, down by 3.13%. Indiabulls Real Estate was the top loser in the index closed at Rs 207 per share, down by 5.07%. 
  • Movers and Shakers of the day:
  • Shoppers Stop: The stock closed in its upper circuit of Rs 499.7 per share, up by 20%. Board of the company agreed to sell 5% shares to Amazon's local unit.
  • Oberoi Realty: The stock closed higher by 3.81% at Rs 422.8 per share. The company has successfully bid for its Thane property. 
  • Visa Steel: The stock ended at Rs 19.75 per share, up by Rs 2.4 per share or 13.83%. The company announced that it will be raising its FII and NRI investment limit.

Index View-:

    NIFTY:-

9,872.60 -91.80 (-0.92%)
Sep 25 - Close
equity tips
  •  In Monday’s trading session Benchmark Indices Niy opened on a gap down note and traded with negave movement. Niy ended at 9,872 level, down by 91 points .The 50-stock index remained subdued through the day but started recovering marginally in the closing hour.
  • Niy breached its major support levels of 9900 and closed below it on daily chart.
  • Niy managed recover from its day low of 9816.05 and give closing at 9872.
  • Niy index is now trading below its 21 days & 50 days moving averages on daily chart.
  • In next trading session further down side movement can be seen in the index and it can move towards 9800-9770, which is not far away from current levels. On the other hand, 9980 -10030 would now be seen as a key resistance.

BANKNIFTY:-    

24,165.05 -203.80 (-0.84%)
 Sep 25 - Close


  • In Monday’s trading session Bank Niy index opened on gap down note & traded with negave movement throughout the day. Bank Niy ended at 24,165 level, down by 203 points or 0.84%. Federal Bank was the top loser in the index closing at Rs 111.4 per share, down by Rs 2.45 per share or 2.15%.
  • Bank Niy has breached its major support levels of 24300 and closed below it on daily chart.
  •  Bank Niy index is trading below its 21 days & 50 days moving averages on daily chart.
  • We expect the Niy Bank index to go down to 23900-23800. The short-term support for the Niy Bank  index is placed around 24000 and 23950 whereas resistances are seen around 24400 and 24500.  

Gainers/Loser:-

  Top Gainers -Nifty 500 :-


Top Losers-Nifty 500 :-

Buzzing Stocks:-

Closing Bell:-

  Gainers: Tata Power(+2%), Coal India (+1.5%).
  Losers: ACC, Aurobindo (-4%).

IDBI Bank sold 1% stake (53.2 lakh shares) in Small Industries Development Bank of India (SIDBI) on September 22.

ONGC to acquire HPCL in bulk or block deal in Nov-Dec, as per media reports.

Dabur (+2%) and Amazon to hold press conference on Sept 26.

Shipping companies shares rise after Baltic Dry Index at 3 year high. Shipping Corp (+12.5%), Shreyas Shipping marginally up.

Oberoi Realty successfully bids for Thane property. Stock zooms 4%.

Novartis India board approves buyback worth Rs 231.2 Cr at Rs 670/sh. Stock slips 6%.

Walchandnagar promoter releases pledge on 2 Cr shares on Sept 21. Stock drops 5%.

Future Retail stock falls 3% after 11.5 lakh shares trade on two block on NSE at Rs 522.55 - 524.50 per share.

Stellar listing for Capacit'e Infra at Rs 399 on BSE vs issue price at Rs 250/sh.

 Shoppers Stop stock zooms 14% as Amazon arm buys 5% stake.

Visa Steel stock jumps 12%; co to raise FII, NRI invest limit.

Market News:-

 ONGC may acquire HPCL in bulk or block deal

  • Government owned oil major Oil and Natural Gas Corporation (ONGC)is likely to acquire Hindustan Petroleum Corporation (HPCL) in a bulk or block deal in the coming months, before the year ends, according to various media reports.
  • ONGC has appointed SBI Caps and the Citi Group as its merchant bankers to complete the deal, whereas, the government’s 51.92 crore shares may also be sold to ONGC through either the bulk or block deal, according to the referred report. 
  • The share price of ONGC closed flat Rs 164.45, after dropping to an intraday low of Rs 161.10 per share, while HPCL was lower by 3.01% at Rs 425.30 on BSE at the closing hour.The share price of ONGC had hitits52-week high of Rs 212 per share on January 31,2017and its 52 week low of Rs 155.30 per share on June 27,2017on BSE, respectively.Whereas HPCL had hit its 52 week high of Rs 493 per share on September 1,2017and its 52 week low of Rs 269.23 per share on November 15, 2016, respectively. 
  • Meanwhile, Indian benchmark index BSE Sensex was lower by 295.81 points, or 1.13%, at 31,626.63 level in the closing hour. 


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Location: India

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