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INDIAN EQUITY MARKET OUTLOOK-24 MAY 2016

INDIAN BENCHMARKS Weak opening seen for Markets on global sell-off

The key domestic equity benchmarks are likely to open on a negative note on Tuesday tracking a bearish trend in markets across Asia and a weak finish at Wall Street

overnight as traders across the globe brace for a potential US Fed interest rate hike next month, souring risk taking appetite. SGX Nifty is trading 6.00 points lower.

Volatility may remain high at the domestic bourses as traders roll over their positions ahead of the May futures & options (F&O) expiry on Thursday.

Indian shares edged up on Monday as ITC rallied after posting stronger-than-expected March-quarter operating earnings, but broader sentiment was muted ahead of a

deluge of corporate results and the expiry of derivative contracts this week. The S&P BSE Sensex and CNX Nifty fell 0.28%-0.24% each today.

Global Markets:

Asian shares were nearly flat in early trading on Tuesday, while the dollar rebounded from steep losses against the yen in the previous session.
US stocks finished lower Monday, giving up early gains as the prospect that interest rates might rise as soon as next month weighed on utilities shares.
The Greek bourse outperformed weaker European stock markets on Monday after Athens agreed a series of reforms that should pave the way for an agreement on bailout loans and debt relief talks.

Major Headlines of the day:

VRL Logistics to start regional airline
Tata Power Q4 net doubles to Rs360 cr.
Torrent Pharma Q4 PAT up 175% to Rs375 cr.

Trend in FII flows: The FIIs were net sellers of Rs -65.60 Cr in the cash segment on Monday while the DIIs were net buyers of Rs 167.77 Cr, as per the provisional figures.

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INDIAN EQUITY MARKET OUTLOOK-17 MAY 2016

INDIAN BENCHMARKS Bullish start likely on Dalal Street

The Indian shares are likely to see a gap up start as the global cues look supportive with SGX Nifty trading 30 points higher.

Indian Indices:

Indian equity benchmarks are poised to witness a positive opening on Tuesday tracking gains across most Asian markets and a bullish finish at Wall Street overnight as investors cheered oil’s surge to a six-month high, bolstering risk taking appetite. Gains in the CNX Nifty Index Futures for May delivery which advanced 0.32 per cent or 25.5 points at 7,905 at 10:23 AM Singapore time also signal that Dalal Street may open lower today.

Shares of GSK Consumer Healthcare, Bharat Forge, Syndicate Bank and United Bank of India will be in focus today as they unveil their March quarter earnings.

However, caution ahead of the results of assembly elections in Assam, Kerala, Tamil Nadu, West Bengal and Puducherry this Thursday and a rebound in wholesale inflation, coupled with forecast of a monsoon delay may weigh on sentiment at Dalal Street, trimming gains.

The Met Department predicted a six-day delay in the onset of monsoon, which was scheduled to hit Kerala on June 1. Snapping a 17-month run of declines, wholesale inflation turned positive in April 2016, coming in at 0.34 per cent, compared to -0.85 per cent in March 2016.

Global Markets:

Most Asian stocks rose as crude oil prices climbed to levels seen last October amid hopes that a global supply glut had eased. China’s Shanghai Composite fell while Hang Seng rose and Japan’s Nikkei 225 soared as a weaker yen boosted the appeal of exporter stocks.

US stocks jumped on Monday as commodity producer shares climbed amidst a rally in oil prices after Goldman Sachs Group Inc. increased its price forecast, stressing that the market had moved into a supply deficit earlier than expected.

Sentiment was also boosted after the world’s most renowned investor Warren Buffet disclosed a stake in Apple, boosting the iPhone maker’s stock.

European shares fell on Monday with satellite operator Eutelsat and power station company Drax slumping after broker downgrades..

Major Headlines of the day:

Aurobindo gets tentative approval for dalfampridine tablet

Glenmark loses appeal over patent on Bayer's Finacea

Diamond Power to raise equity fund from a Chinese company

Trend in FII flows: The FIIs were net sellers of Rs -79.84 Cr in the cash segment on Monday while the DIIs were net buyers of Rs 127.91 Cr, as per the provisional figures

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INDIAN EQUITY MARKET OUTLOOK-12 MAY 2016

INDIAN BENCHMARKS Markets may open in red following weak global cues.

The key Indian equity benchmarks are likely to witness a gap down opening as foreign investors remain jittery amidst the amended India-Mauritius tax treaty that imposes capital gains tax on investments coming from Mauritius.SGX Nifty is trading 6.50 points lower.

Shares of Glenmark and Nestle India will be in focus as they unveil their March quarter earnings today.

All eyes will be on the March industrial output and April consumer inflation data to be released today.

Indian shares fell on Wednesday, snapping two straight sessions of gains, on concerns the government may amend tax treaties with countries including Singapore after it agreed to tax capital gains on foreign investments from Mauritius. The S&P BSE Sensex and CNX Nifty fell 0.68%-0.49% each today.

Global Markets:

Asian shares fell on Thursday following a dismal day on Wall Street, while crude oil futures gave back some of their overnight gains after jumping on an unexpected fall in U.S. crude inventories.

U.S. stocks closed lower Wednesday, under pressure from disappointing Disney and Macy's earnings, amid sharp gains in oil following a surprise inventory draw.

European shares slipped on Wednesday as some weak earnings reports pushed the market lower after two days of gains.

Major Headlines of the day:

Sanofi recalls batches of Combiflam after regulator alert.

Adani Power raises Rs 330 crore through NCDs.

Hero enters motorcycle racing in tie-up with German specialist.

Trend in FII flows: The FIIs were net sellers of Rs -362.19 Cr in the cash segment on Wednesday while the DIIs were net buyers of Rs 729.59 Cr, as per the provisional figures.

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INDIAN EQUITY MARKET OUTLOOK-11 MAY 2016

INDIAN BENCHMARKS Bearish opening on Dalal Street

The key Indian equity benchmarks are poised to witness a negative opening on Wednesday as the government late Tuesday announced that starting next year, a capital gains tax on investments coming from Mauritius will be imposed as it seeks to curb black money. SGX Nifty is trading 124 points lower.

Focus will be on Kotak Mahindra Bank, Havells India, Apollo Tyres and Asian Paints as they unveil their March quarter earnings today. Caution ahead of key macro data to be released on Thursday including March industrial output and April consumer inflation

Indian shares bounced back from earlier losses to close higher on Tuesday, posting their second consecutive session of gains, as a rebound in crude oil prices and global stocks continued to favour riskier assets. The S&P BSE Sensex and CNX Nifty ended 0.33%-0.28% higher each.

Global Markets:

Asian stocks pulled away from eight-week lows on Wednesday, a day after solid corporate earnings sparked a rally in global equities while the yen struggled amid intervention warnings from Tokyo in the wake of the currency's rapid rise.

A surge in US stocks overnight after a rise in US job openings to the second highest level on record in March signaled a strengthening labour market recovery in the world’s biggest economy.

European shares rose on Tuesday, lifted by news of progress on Greek debt talks, with Danish jeweller Pandora surging after strong results and Credit Suisse gaining after a smaller-than-expected loss.

Major Headlines of the day:

Tata Steel gets SEZ status for Gopalpur project.

EID Parry Q4 net up 59% at Rs267 cr.

JSW enters race for Tata Steel's UK business.

Trend in FII flows: The FIIs were net sellers of Rs -328.59 Cr in the cash segment on Tuesday while the DIIs were net buyers of Rs 68.20 Cr, as per the provisional figures.

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INDIAN EQUITY MARKET OUTLOOK-10 MAY 2016

INDIAN BENCHMARKS Markets may open lower amid mixed Asia trend

The key domestic benchmarks are likely to witness a gap down opening on Tuesday as investors resort to profit booking after a stellar rally in the previous session while a mixed trend in stock markets across Asia amid weakness in commodity prices may also sour the appetite for risky assets. SGX Nifty is trading 33.50 points lower.

The focus today will be on the stock of Punjab & Sind Bank as the public sector lender unveils its March quarter earnings numbers, with investors keenly eying the Gross and Net NPA levels.

Caution ahead of key macro data to be released on Thursday including March industrial output and April consumer inflation may also weigh on sentiment.

Indian shares rose by 2%, posting their biggest single-day percentage gain in nearly four weeks, as a recent string of positive corporate results raised tentative hopes about an improving domestic economy. The S&P BSE Sensex and CNX Nifty ended 1.82%-1.71% higher each.

Global Markets:

Asian shares got off to a weak start on Tuesday, pressured by weaker crude oil prices, though Japanese shares got a tailwind as the dollar stood tall against the yen.

US stocks ended mixed on Monday as traders weighed dismal China trade data, tumbling oil prices and prospects for increases in US interest rates but sentiment was supported by a rally in health care and consumer stocks

European stock markets gained on Monday, but closed off their best levels after oil prices turned negative.

Major Headlines of the day:

Tata Steel takes seven potential bids for UK assets to next stage of sale process

Sun Pharma launches app for asthma patients

ONGC crude oil output up in FY16

Trend in FII flows: The FIIs were net sellers of Rs -224.40 Cr in the cash segment on Monday while the DIIs were net buyers of Rs 350.60 Cr, as per the provisional figures.

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Sensex zooms over 300 pts, Nifty eyes 7850

The market has extended its rally with the Nifty comfortable above 7800. The 50-share is up 96.50 points or 1.2 percent at 7829.95. The Sensex is up 324.89 points or 1.3 percent at 25553.39. About 1343 shares have advanced, 498 shares declined, and 74 shares are unchanged.

NTPC, Bajaj Auto, HDFC twins and ITC are top gainers in the Sensex. Thyrocare Technologies debuted at Rs 665 per share on the NSE, 49 percent premium to its issue price at Rs 446.

The initial public offering (IPO) of Thyrocare was oversubscribed 73.55 times in a price band of Rs 420-446. The issue was open for bidding from April 27-29.

Thyrocare competes with diagnostics chains such as Dr Lal PathLabs, SRL Diagnostics, Metropolis Healthcare and Apollo Clinic.

Spot gold edged lower, but remained supported in the face of a firm dollar as investors bet a weaker US payroll report would push out the timing of any rate hike.

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