Equity Report Outlook|24 carat financial services | 8 September 2017

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Equity tips:-

NIFTY:-

                                Live Stock Market Updates – Market trades flat

 

  • Markets are trading in slightly positive teritorry paring losses as it nears to the closing hours of Friday’s intraday trade.
  • In Nifty 50 index there are 19 advances and 32 declines indicating a bearish undertone floating in the market.
  • Broader market indices continue to trade mixed wherein BSE Midcap is trading in negative territory and BSE Small cap index is trading in positive territory. BSE Telecom index is one of the index gainers among sectoral indices on BSE.
  •  BSE Telecom index is trading higher by 0.49% at 1,376 level. Bharti Airtel and Bharti Infratel are top index contributors to index gains. 
  • Bharti Airtel is trading higher by 1.43% at Rs 403.15 per share and 0.18% at Rs 370.70 per share respectively.
  •  The stock of Sunil Hitech Engineers advanced over 4% towards closing hours on Friday, on the BSE on reports of the removal of shares pledged with lenders.
  • The promoter of Saurashtra Cement released pledge on 1.05 crore equity shares on September 6, 2017.
  • At 3 PM, the S&P BSE Sensex is up 44 points at 31,706, while Nifty is up by 9 points at 9,939. A total of 103 stocks registered a fresh 52-week high in trade today, while 15 stocks touched a new 52-week low on the NSE. 
  • Larsen & Toubro, Bharti Airtel and Kotak Mahindra Bank are among the gainers, whereas Bank M&M, Dr. Reddy’s Lab and BPCL are losing on the NSE. 
  • The INDIA VIX is up down 0.90% at 12.8. 

Market Snap:-

 

 Sector Watch:-

Index View-:

NIFTY:-

                      Niy: Market trades flat Niy is up by 9 points at 9939.

Nifty tips

 

  • Nifty ends on a flat note amid a highly volatile session and once again manages to close above the 9900 levels. ,Reaty, Pharma and PSU Bank stocks were the top laggards while private banks, metals and FMCG stocks bucked the negative trend. Crucial support is placed around the 9980 Nifty 50 index there are 19 advances and 32 declines indicating a bearish undertone floating in the market. 
  • Markets are trading in slightly positive teritorry paring losses as it nears to the closing hours of Friday's intraday trade. 


 BANKNIFTY:-  


                Niy Bank: Index likely to witness more upside above 24500


  • Bank Nifty future is looking sideways on short-term charts . 
  • In today’s trading session Bank Nifty fut opened on a gap up node and traded with sideways movement and closed at 24370 with overall gain of 0.06%.
  •  Bank Nifty fut is trading below its 21 days and 50 days simple moving averages on intraday chart.
  • Bank Nifty fut is sustaining above its important support mark of 24200.
  • Bank Nifty fut can test down side levels of 24100 & 24000 if it breaches its support level of 24200 while up side 24500 will act as a good resistance level. 



 

Gainers/Loser:-

GAINERS - NSE  

 Losers - NSE

 

 Buzzing Stocks:-

 Bajaj Finance board approves issue price of Rs 1690 per share for QIP versus floor price of Rs 1771.90 per share.

L&T stock jumps 4% amid high volume. The stock gains on hopes of new defence contracts. 

IDBI Bank board approves divestment of bank's stake in SIDBI. 


M&M slips after testing its 200-day EMA. A close below 1310 can lead to further capitulation.

 Dr Reddy's Duvvada plant gets 6 observations from German drug auditor. Stock slips 4%.

Tata Motors Aug JLR retail sales at 38,519 units (+4%). Stock trades flat.

 Pharma stocks under pressure, Nifty Pharma down by 1%. Dr. Reddy's (-4%), Glenmark (-3%), Sun Pharma, Cadila (-2%), Lupin (-1%).

Tata group stocks trade higher. Tata Sponge (+7%), Tata Metaliks (+6%), Tata Global (+2%), Tata Elxsi (+1%).

Divi's Lab stock rises 1.5% on report co resolves Unit-2 issues.

Bombay Dyeing at 9-year high as co sells land in Pune. Stock rallies 4%.

 Nifty Metal Index surges 1% as Alumina prices rise. MOIL, SAIL, Hindalco, Jindal Steel (+2%), Vedanta (+1.5%), Tata Steel, Hindustan Zinc (+1%).

Biocon's insulin facility in Malaysia receives EU GMP compliance certificate. Stock gains 3%.


Market News:-

  •          NBCC should become USD 3 billion company: Minister


The newly appointed Minister of Housing and Urban Affairs, Hardeep Singh Puri, recently urged the public sector enterprise NBCC (India) Limited to work towards becoming a USD 3 billion company.

According to media reports, top government officials closely associated with the discussions disclosed that the Singh has asked NBCC “to think even bigger and increase its international profile in the context of the construction sector having been opened to FDI and consider getting listed on foreign bourses, being a USD 3 billion company”.

NBCC, is a Navratna organisation, the stock has recorded a hike in its share prices by over 80% in the last one year. The company had also posted an order book of over Rs 36,000 crore till March 2016.

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