Friday, 19 October 2018

Asian stocks fall; China erases drop after support

Asian stocks posted further losses Friday after another slide in the US overnight. China’s equities rose, reversing losses, after verbal intervention by the nation’s top financial regulators, who assured they’ll keep financial risks under control.

The MSCI Asia Pacific Index headed for its worst three-week slide since January 2016 as shares fell from Sydney to Hong Kong. Earlier, the S&P 500 Index fell more than 1% and the Nasdaq 100’s drop topped 2%. China’s Shanghai Composite rose from a four-year low. The yuan stabilized after earlier losses, and the dollar held overnight gains.

China’s recent rout spurred the most explicit comments by policy makers to date, with the central bank and other regulators moving to assure that liquidity risks are being addressed.






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Thursday, 18 October 2018

US Treasury Department: Could remove India from currency monitoring list

In optimistic news for New Delhi, the US Treasury Department on Wednesday claimed that it is considering the possibility of removing India from its currency monitoring list of major trading partners.

The department claimed that the Indian government had taken some measures to address its concerns.

In April this year, India, for the first time, was placed by the US in its currency monitoring list which tracks countries with questionable foreign exchange policies along with the following five countries: China, Germany, Japan, South Korea, and Switzerland.



Wednesday, 17 October 2018

MCX Gold in bearish engulfing pattern near 32,000


MCX Gold gave a gap down opening on Wednesday and extended its fall. The precious yellow metal is currently in a bearish engulfing candlestick pattern on the daily charts, which indicates a possible trend reversal.

Immediate support for gold lies near 31,770, breaching which could create panic in prices that could further lead to a drift towards 31,650-levels. For now, any small up move can be used as a selling opportunity.






Tuesday, 16 October 2018

South Indian Bank shoots post Q2FY19 numbers

Shares of South Indian Bank shot up by 15.5% in early morning trade on Tuesday even as the company missed street estimates. The bank posted an NII of Rs506.50cr, up 0.65% yoy and 2.48% qoq.

The bank has reported net profit below consensus estimates. The reported PAT stood at Rs70cr in Q2FY19, against a profit of Rs4.3cr in the corresponding quarter last year.

The yoy growth in PAT was due to lower provisions, which has declined ~55% to Rs205cr.




NIFTY FUTURE TIPS INDORE 


Monday, 15 October 2018

Crude oil futures climb 1.58% on Asian cues


Crude oil futures was trading higher in the domestic market on Monday as speculators created fresh bets, taking positive cues from Asian markets.

Analysts said, speculators built fresh positions after oil prices rose in Asia following rising diplomatic tensions between Riyadh and the West, giving lift to crude oil prices in futures trade here. 

At the MCX, crude oil futures for October 2018 contract was trading at Rs 5326.00 per barrel, up by 1.58 per cent, after opening at Rs 5290.00, against a previous close of Rs 5243.00. It touched an intra-day high of Rs 5334.00.



Friday, 12 October 2018

Stocks stage recovery as Treasury yields climb

Stocks staged a robust recovery on Friday as strong trade data from China buoyed markets at the end of a tumultuous week. The dollar steadied as Treasury yields ticked higher.

The Stoxx Europe 600 index gained for the first time in three days, though still headed for its worst week since March, while U.S. equity-index futures also advanced.

The MSCI Asia Pacific Index climbed from the lowest level since May 2017, with shares in Hong Kong and South Korea leading the way. Benchmarks in Tokyo struggled for traction and shares in Shanghai staged a modest rally.


The yuan retreated following a Bloomberg report that US Treasury staff concluded China isn’t manipulating its exchange rate.




Thursday, 11 October 2018

TCS Ltd Q2FY19E Result Expectation

TCS Ltd Q2FY19E Result Expectation
Consensus expectations for Q2FY19E:
• Revenue – Rs36,501cr, up 6.5% qoq aided by a ramp-up in large deals won in H2FY18. Expect growth to be led by Retail & CPG and expect BFSI to perform well.
• EBIT – Rs9,633cr, up 12.3% qoq
• EBIT Margin – 26.4%, expansion of 135bps qoq on INR depreciation and operational efficiencies
• PAT – Rs7,854cr, up 7% yoy

Q1FY19 performance highlights:
• Revenue –  Rs 34,261cr, up 6.8% qoq driven by a rebound in BFSI and Retail verticals. BFSI and Retail, and CPG grew 3.7% qoq cc and 3.6% qoq cc, respectively, in Q1FY19
• EBIT – Rs8,578cr
• EBIT Margin – 25%
• PAT – Rs7,340cr




Monday, 8 October 2018

Asian stocks fall, Yuan dips as PBOC eases policy

Asian stocks slipped, led by China, and the yuan fell as investors assessed the latest move by the People’s Bank of China to loosen monetary policy. Chinese shares bore the brunt of selling as traders returned from a week-long holiday that encompassed the rout in Treasuries.

Equities from Sydney to Shanghai sank, while Japan was shut for a holiday, and Columbus Day in the US means no Treasuries trade on Monday. 


US stocks on Friday capped the worst week in a month, as a solid run of economic data emboldening investor faith for tighter monetary policy spurred a sell-off in Treasuries. 

The yuan weakened past 6.9 per dollar in the offshore market and was also weaker onshore following PBOC’s policy move.




Friday, 5 October 2018

OMC stocks hit 52-week low; HPCL, BPCL fall over 20%

 Shares of all major oil marketing companies (OMC) hit 52-week low and extended their losses in today’s session as Government on Thursday announced the much awaited cut on excise duty of petrol and diesel, which the market had kept an eye on since the rally of crude prices started.

Excise duty on petrol and diesel is cut by Rs1.5/lt each and the oil marketing companies (OMCs) have been asked to absorb Rs1/lt. The overall cut in prices of petrol and diesel will be Rs2.5/lt each. 

Center has also asked states to take a similar cut in VAT to keep the petrol and diesel prices under control.



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Thursday, 4 October 2018

Asian stocks in fall after jump in Treasury yields

Asian equities and currencies sank after a spike in US Treasury yields tested investors’ nerves for equity valuations as Federal Reserve monetary tightening rolls on. The yen, befitting its haven status, headed higher.

Shares in Hong Kong and South Korea retreated. Stronger- than-anticipated reports on US services and private-sector payrolls helped drive 10-year Treasury yields up the most in more than a year, to the highest level since 2011. Japanese bond yields advanced past a point that previously prompted Bank of Japan intervention. Futures on the S&P 500 Index slipped.

China’s yuan fell below the closely watched 6.9 per dollar level in offshore trading. Ten-year Japanese government bond yields climbed past 0.15%, toward the upper end of the BOJ’s tolerance zone of plus or minus 0.2%. The yen’s drop to its weakest in a year against the dollar earlier Thursday gave the BOJ less of an incentive to buy bonds, however.


PREMIUM FUTURE CALL: 
BUY BANKBARODA ABOVE 105 TARGETS 106 / 107.50 / 110 STOPLOSS 103.70 



Wednesday, 3 October 2018

Dinesh Engineers IPO gets 8% demand on day 2

Passive communication infrastructure provider Dinesh Engineers’ initial public offering (IPO) was subscribed 8% on the second day of bidding. The IPO received bids for 8.06 lakh shares against the total issue size of 1cr shares.

Non-institutional investors' portion was subscribed 30% and that of retail investors 10%, as per NSE data.

The price band for the offer has been fixed at Rs183-185 per share. The issue, which will close on October 3, consists of up to 1cr equity shares. Bids can be made for a minimum lot of 80 shares and in multiples of 80 shares thereafter.


Hem Securities is the book running lead manager to the issue, while Link Intime India Pvt Ltd is the registrar.

The company’s shares will be listed on the BSE and the NSE.


OPTION PREMIUM CALL: 

BUY AMBUJACEM 215 PUT ABOVE 9.50 TARGETS 11.00 / 13.00 / 15.00 STOPLOSS 7.80




Monday, 1 October 2018

Gold slips as dollar firms amid Fed rate hike view

Gold prices dipped on Monday as the dollar firmed in the wake of indications from the U.S. Federal Reserve last week that it will pursue a tighter monetary policy.
The Fed raised U.S. interest rates last week and said it planned four more increases by the end of 2019 and another in 2020, amid steady economic growth and a strong job market.
Higher U.S. interest rates tend to boost the dollar and push bond yields up, putting pressure on gold prices by increasing the opportunity cost of holding non-yielding bullion.
Spot gold was down 0.3 percent at $1,188.41 at 0407 GMT. On Friday, gold touched its lowest since Aug. 17 at $1,180.34 an ounce.
U.S. gold futures were down 0.3 percent at $1,192.30 an ounce.

"Gold prices remain dependent on the dollar prices at this juncture. The U.S. economy has been rosy and better than expected. Efforts by the Trump administration to reduce the trade deficit from an economic point of view has been friendly for the greenback as well," OCBC analyst Barnabas Gan said.
Gold prices are likely to see lower volatility, with the Chinese markets closed for a week, for the Golden Week celebration, Gan said.
The dollar index was up 0.1 percent versus a basket of major currencies, and hovered close to a near three-week high hit in the previous session.

MCX CALL: SELL GOLD BELOW 30450 TARGETS 30410 / 30360 / 30300 STOPLOSS 30520