Equity Report Outlook|24 carat financial services | 27 September 2017

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Equity tips:-

NIFTY:-

                                 Nifty settles at 9,735; Sensex down by over 400 points

  • Major indices registered their biggest intraday fall of the year on Wednesday after the Indian army confirmed that it conducted a surgical strike along the Indo-Myanmar border. The army reported that there were no casualties among the Indian Army soldiers.
  • Nifty ended at 9,735 level, down by 135 points, while Sensex closed at 31,159 level, down by 439 points on Wednesday. Sensex ended at the lowest level since June 30. There were 275 advances, 1,379 declines and 308 unchanged stocks on NSE. India VIX ended higher by 6.3% at 13.74 level. 
  • In the broader markets, BSE Mid-cap index closed at 15,191 level, down by 308 points, while BSE Small-cap index closed at 15,797 level, down by 338 points. Bank Nifty ended at 23,812 level, down by 386 points or 1.6%.
  • All the sectoral indices on NSE closed in the negative territory. Nifty PSU Bank index was the top losing index ending at 3,026.8 level, down by 3.06%. Nifty Pharma ended lower by 2.81% at 9,036.45 level. Among other sectoral indices, Bank Nifty, Nifty Auto, Nifty FMCG, Nifty Metal, Nifty Pvt Bank and Nifty PSU Bank also ended lower by more than 1%.


Index View-:

    NIFTY:-

9,735.75 -135.75 (-1.38%)
Sep 27 - Close

nifty tips
  • In Wednesday’s trading session Benchmark Indices Nifty opened on a gap up note but could not hold its important mark of 9900 and traded with negave movement throughout the day and Niy ended at 9,735 level, down by 135 points.
  •  Major indices registered their biggest intraday fall of the year on Wednesday after the Indian army confirmed that it conducted a surgical strike along the Indo-Myanmar border. The army reported that there were no casuales among the Indian Army soldiers
  •  Nifty index closed below its psychological support 9800 for the first me in September.
  •  Niy index has made a strong bearish candle on daily chart.
  •  Niy index is trading below its 21 days & 50 days moving averages on daily chart.
  •  Nifty index is now tacking support of its 100 days moving averages @ 9725-9730 on daily chart.
  •  In next trading session further down side movement can be seen in the index and it can move towards 9660-9620, On the other hand, 9840-9880 would now be seen as a key resistance. dex and it can move towards 9800-9770, On the other hand, 9960 -10030 would now be seen as a key resistance.

BANKNIFTY:-    

23,812.95 -386.20 (-1.60%)
Sep 27 - Close

banknifty
  • In Wednesday’s trading session Bank Niy index opened on gap up note but could not hold its important mark of 24000 & traded with negave movement throughout the day.
  •  Bank Niy index plummeted during the second half of Wednesday’s intraday trade as market extended its losses. The index slipped lower by over 421 points or 1.74% at 23,778 level, majorly dragged by HDFC Bank and Bank of Baroda.
  • The index witnessed an intraday high of 24,331 level and an intraday low of 23,775 level. It is one of the major index losers among NSE having 0 advances and 12 declines on the index.
  •  Bank Niy index has made a strong bearish candle on daily chart.
  • Bank Niy index is trading below its 21 days & 50 days moving averages on daily chart and tacking support of its 100 days moving averages.
  • We expect the Niy Bank index to go down to 23700-23600. The short-term support for the Niy Bank index is placed around 27000 and 23600 whereas resistances are seen around 24100 and 24300. 

Gainers/Loser:-

  Top Gainers -Nifty 500 :-

Top Losers-Nifty 500 :-

 

Buzzing Stocks:-

Closing Bell:-

 Gainers: Infratel (+2%), TCS (+1%).
 Losers: Adani Ports (-5%), SBI, BoB (-3%).

Nifty PSU Bank Index at 8-month low, slips over 2.5%. Andhra Bank (-4%), Bank of India, Union Bank, SBI, BoB (-3%), Syndicate Bank (-2%).

ICICI Lombard makes tepid debut list at Rs 650 on BSE; 1.66% discount to issue price.

JSW Energy signs MoU with Gujarat Govt to set up E-Vehicle manufacturing unit. Stock down 1%.

Cyient stock falls 7% after 1.35 Cr shares trade in two block at Rs 475-481.

Zydus gets USFDA approval for Indomethacin. Cadila stock dips 2.5%.

Hindustan Motors stocks spurts 2% on ambassador brand sale.

 Piramal Finance launches Piramal Housing Finance, will cater to retail housing finance.

Stock up 1%. Sun Pharma stock slips over 2.5% post AGM.

Vodafone India head merger process with Idea Cellular ahead of schedule, as per media reports. Stock trades in red.

Manpasand Beverages stock drops 3% as stock goes ex-bonus.

Divi's Lab stock drops 9%; US FDA Vizag unit observation seen critical.

Market News:-

 Heritage Foods fixes record date for stock split

  • The stock of Heritage Foods was trading at Rs 1,439, up by 0.68% on Wednesday aer the company informed the bourses that it has fixed October 11 as the record date for ‘ stock split.
  • The company will subdivide each share of face value of Rs 10 into two share of face value of Rs 5 each.
  • Heritage Foods also informed bourses that the board has approved purchase of assets, including building and machinery of Shah Molal Foods in Telangana for expansion of dairy division by seng up plant. 
  • The stock was trading 0.68% up at Rs 1,439 at 1401 hours. Shares of the company opened at Rs 1,443.45 and touched a high and low of Rs 1,459.7 and Rs 1,439.05, respecvely. The stock had 52-week high of Rs 1,566.35 on August 31, 2017 and 52-week low of Rs 730.40 on November 9, 2016.
  • Heritage Foods Limited’s segments are Dairy, Retail, Agri, Bakery and Renewable Energy. Its principal products/services are milk, value added products and FMCG (food and non-food). It has operaons across approximately 10 states in India.

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Location: Indore, Madhya Pradesh, India

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