Finalaya Daily market Wrap 16 July 2014

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Information about Finalaya Daily market Wrap 16 July 2014
Economy & Finance

Published on July 16, 2014

Author: finalaya

Source: slideshare.net

Description

Markets mount 1.3% on RBI move; Realty up 4.3%

Markets mount 1.3% on RBI move; Realty up 4.3% Market Snapshot | 16-07-2014 04:20 PM Following a marginally higher start, Indian indices were trading comfortably in green zone supported by firm Asian cues. Investors were seen piling up positions in realty stocks after RBI eased mandatory regulatory norms for banks issuing infra bonds. In late noon sessions, benchmarks extended their bull run to mount around 1.3% at the close. Sensex added another 321 points to settle at 25550 and Nifty was 7624 at the close. On BSE sectorial front, Realty rocked the show by soaring over 4% and there was no loser. Among global peers, US markets edged lower an explicit warning from the Federal Reserve about valuations on social media and biotechnology stocks. However, Asian and European markets cheered the slightly better than expected GDP report from China. Back home, on currency front, Rupee extends weakness against Dollar for the third session on persistent dollar demand and hit 11 month low amidst high June trade deficit announcement. In futures trades, INR hit an intra-day high of 60.23/USD and an intra-day low of 60.41USD. In spot trades, INR hit an intra-day high of 60.08/USD and an intra- day low of 60.27/USD. As per RBI reference rates, INR stood at 60.19/USD. On commodities front, the yellow metal strengthened today amidst Dollar demand. In futures trades of August expiry, Gold marked intra-day high at Rs 27715 per 10 grams and an intra-day low at Rs 27592 per 10 grams. On macro-economic front, adding to the slew of measures announced in Union Budget 2014-15 to encourage infrastructure development and affordable housing, RBI has taken another bold step of relaxing norms for funds raised for infra lending purpose. Reserve Bank of India has exempted long-term bonds from Cash Reserve Ratio (CRR), Statutory Liquidity Ratio (SLR) and Priority Sector Lending (PSL) to allow funds raised from these bonds to be utilized for lending to long-term projects in infrastructure sub-sectors and affordable housing. This is expected to reduce home loan rates and boost the housing and infrastructure sector. On the flip side, June trade deficit data disappointed the markets. The trade deficit in June climbed to 11-month high at $11.76 billion. Imports dipped slightly to $38.24 billion against $ 39.23 billion in May but grew 8.3% on a year on year basis. Even exports rose 10.2% to $26.48 billion as compared to June 2013, but declined from $28 billion on a month- on month basis. On stock-specific front, Sun Pharmaceutical Industries ended 0.7% up and marked fresh record high at 753 on BSE on acquiring Pharmalucence Inc. via one of its subsidiary. Pharmalucence has sterile injectable capacity in the US supported by strong R&D capabilities. Adani Ports and SEZ soared 6.8% to mark new 52 week high at Rs 285.45 on BSE after receiving environment and coastal regulation zone clearance from the Government for its special economic zone at Mundra Port in Gujarat. Atlanta rallied 7.6% on BSE on securing single order from National Highways Authority of India (NHAI) for the operation and maintenance of a four lane Highway Guwahati Bypass. Key Quarterly Results Bajaj Finance ended marginally up after recording 20.26% jump in Q1 Net at Rs 211.36 crore as compared to Rs 175.74 crore for the same quarter in the previous year. Kotak Mahindra Bank gained 1.5% on BSE on posting 6.70% rise in Q1FY15 Net at Rs 429.8 crore as compared to Rs 402.82 crore for the same quarter in the previous year. On the consolidated basis, group’s Net grew 11.28% to Rs 698.31 crore as compared to Rs 627.50 crore for Q1FY14. Federal Bank registered 91.4% steep rise in Q1FY15 Net at Rs 202.23 crore as compared to Rs 105.66 crore for Q1FY14. Bank’s gross NPA for quarter reduced to 2.22%, as compared to 3.51% in the same quarter of the previous year. The stock ended marginally up on BSE. South Indian Bank slipped 3% on BSE after its Q1 Net rose 10.28% at Rs 126.65 crore as compared to Rs 114.84 crore for the quarter ended June 30, 2013. Bank’s gross NPAfell to 1.50% in the quarter as compared to 1.57% in Q1 of previous fiscal. The market breadth on the BSE closed in positive. Advancing and declining stocks were 2074 and 1003 respectively, while 119 scrips remained unmoved. The S&P BSE Sensex ended at 25549.72, up 321.07 points or 1.27%. The 30 share index touched a high and a low of 25602.78 and 25246.75 respectively. 24 stocks advanced against 6 declining ones on the benchmark index. The CNX Nifty gained 97.75 points or 1.30% to settle at 7624.40. The index touched high and low of 7640.10 and 7532.45 respectively. 44 stocks advanced against 6 declining ones on the index.

S&P BSE Sensex CNX Nifty The S&P BSE Mid-cap index moved up to 9165.92 and gained 1.34% while S&P BSE Small-cap index jumped up by 2.04% to 10057.37. The broader S&P BSE 500 index increased to 9754.40 (up 1.28%) and CNX 500 index rose to 6147.90 (up 1.33%). The volatility as denoted by INDIA VIX lost 0.27% at 14.73 from its previous close of 14.77 on Tuesday. Sectors in action On the BSE Sectorial front, Real Estate (up 4.28%), Banks (up 2.50%) and Metals (up 2.20%) were the top gainers. There was no loser on BSE sectorial front. The Angels and the Devils ICICI Bank (up 4.70%), Hindalco Industries Ltd (up 4.19%), Axis Bank (up 3.57%), Tata Steel Ltd (up 3.13%) and Sesa Sterlite Ltd (up 2.97%) were the top gainers on the Sensex. GAIL (India) Ltd (down 0.96%), Bajaj Auto Ltd (down 0.85%), Wipro Ltd (down 0.34%), Cipla Ltd (down 0.27%) and Dr. Reddys Laboratories Ltd (down 0.21%) were the top losers on the Sensex. Benchmark Drivers ICICI Bank (87.83 points), Reliance Industries Ltd (34.75 points), Axis Bank (25.85 points), Larsen And Toubro Ltd (24.14 points) and State Bank of India (22.19 points) were the major Sensex drivers today. On the other end ICICI Bank (22.21 points), Reliance Industries Ltd (9.02 points), Larsen And Toubro Ltd (6.14 points), Axis Bank (5.75 points) and State Bank of India (5.45 points) were the major Nifty movers today. Pivot, Supports and Resistance Levels CNX Nifty is now pivoted at 7599 for next session. The next support is at 7558 and on upside it has a resistance at 7666 levels. CNX NiftyCNX Nifty Eff. DateEff. Date S 3S 3 S 2S 2 S 1S 1 PIVOTPIVOT R 1R 1 R 2R 2 R 3R 3 Actual CloseActual Close 17-Jul-2014 7450 7491 7558 7599 7666 7707 7773 - 16-Jul-2014 7403 7431 7479 7507 7555 7583 7630 7624.40 15-Jul-2014 7368 7395 7425 7452 7481 7508 7537 7526.65 S&P BSE Sensex has a pivot at 25466 with first level of support and resistance at 25330 and 25686 respectively. S&P BSE SensexS&P BSE Sensex Eff. DateEff. Date S 3S 3 S 2S 2 S 1S 1 PIVOTPIVOT R 1R 1 R 2R 2 R 3R 3 Actual CloseActual Close 17-Jul-2014 24974 25110 25330 25466 25686 25822 26042 - 16-Jul-2014 24847 24934 25081 25168 25315 25402 25549 25549.72 15-Jul-2014 24697 24794 24901 24998 25104 25202 25308 25228.65 Follow us on This content is generated at www.finalaya.com and is governed by the Terms of Use.

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