Equity Weekly Roundup 24 CARAT FINANCIAL SERVICES 25th to 29th September 2017

Equity tips:-

NIFTY:-

                                          
                                              Weekly Wrap: ITI outperforms, gains 38%

 

• Nifty ended at 9,964.4 level, down by 157.5 points, while Sensex closed at 31,922 level, down by 447 points on Friday. Nifty and Sensex witnessed the biggest 10-day fall in the past 10 months. There were 207 advances, 1,464 declines and 290 unchanged stocks on NSE, reflecting strong negative sentiments floating in the market.

• Nifty has lost around 189 points while Sensex has lost 501 points in the past week. On the broader markets, BSE Mid-cap index has lost 480 points while BSE Small-cap index has lost 540 points in the previous week.

• Though the major benchmark indices weakened during the previous week, following stocks outperformed in the market giving up to 39% returns. ITI Limited has secured the top position in the list. ITI was declared the winner in the Rs 7,000 crore Phase IV tender of Army (Army Static Switched Communication Network – ASCON) for deploying and maintaining its strategic communication network across the country, said the company in a BSE filing on Thursday post market hours.  

Index View-:

    NIFTY:-

9,964.40 -157.50 (-1.56%) 

Sep 22 - Close 

niftytips

• In Friday’s trading session Benchmark Indices Niy opened on a gap down note and traded with negave movement throughout the day. Niy ended at 9,964.4 level, down by 157.5 points, Niy witnessed biggest 10-day fall in the past 10 months reflecng strong negave senments floang in the market.

• Niy breached its major support levels of 10000 and closed below it on daily chart.

• Strong profit booking was seen in the market in most of the stocks from higher levels.

• we expect the index to gradually move towards 9950 – 9900, which is not far away from current levels. On the other hand, 10040 – 10080 would now be seen as a key resistance.

BANKNIFTY:-      

24,368.85 -430.40 (-1.74%) 

Sep 22 - Close  

banknifty

• In Friday’s trading session Bank Niy index opened on gap down note & traded with negave movement throughout the day. Bank Niy ended at 24,368 level, down by 430 points or 1.74%. Yes Bank was the top loser in the index closing at Rs 361.45 per share, down by Rs 15.6 per share or 4.14%. The index witnessed biggest intraday fall since November 21, 2016.

• Bank Niy has breached its major support levels of 24500 and closed below it on daily chart. 

• Bank Niy has given breakout of its up trend, trend line on daily chart.

• We expect the Niy Bank index to go down to 24200-24100. The short-term support for the Niy Bank index is placed around 24200 and 24100 whereas resistances are seen around 24500 and 24600. 

Gainers/Loser:-

  Top 10 Weekly Gainers-CNX500 :-

 Top 10 Weekly Losers-CNX500 :-

 

Market News:-

Eurozone PMI spikes 56.7 in September

• The eurozone economy ended the third quarter on a strong note, with growth of business activity picking up to its highest since May to register one of the strongest gains seen over the past six years.

• The headline IHS Markit Eurozone PMI rose to 56.7 in September, according to the preliminary ‘flash’ estimate (based on approximately 85% of final replies), up from 55.7 in August.

• Inflows of new orders showed the largest monthly increase since April 2011, representing a renewed surge in demand after the pace of new order growth had slowed in the prior two months. 

• Growth accelerated in both manufacturing and services, albeit with the former continuing to lead the expansion. While service sector activity showed the largest rise since May, the increase in manufacturing output was the greatest since April 2011. The outperformance of manufacturing relative to services also increased to the widest since January 2014.

• The faster pace of business activity growth and upturn in demand in September was accompanied by rising price pressures. Input cost and selling price inflation picked pace for a second successive month with both reaching the highest rates since April.

• Prices charged for services rose to the greatest extent since May, while the increase in factory gate prices was the joint-highest since June 2011.

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