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INDIAN EQUITY MARKET OUTLOOK-23 MAY 2016

INDIAN BENCHMARKS Markets set for positive opening; Asian markets open mixed.

The key domestic equity benchmarks are likely to open on a positive note on Monday even amidst a mixed trend in markets across Asia as investors across the globe await further cues over the timing of the next US Federal Reserve interest rate hike.. SGX Nifty is trading 25.50 points higher.

Indian shares fell for a third consecutive session on Friday to post a weekly loss, tracking weak global markets as caution prevailed about the possibility of an interest rate hike by the U.S. Federal Reserve as early as June. The S&P BSE Sensex and CNX Nifty fell 0.39%-0.43% each today.

Global Markets:

Asian shares rose on Monday after a solid session on Wall Street, while the dollar moved away from recent highs though remained supported as investors bet that the U.S. Federal Reserve was on track to raise rates sooner rather than later.

US stocks closed higher Friday, with tech stocks leading. The Dow Jones industrial average failed to recover gains for the week after stocks fell amid renewed concerns of a rate hike sooner rather than later.

European stocks closed higher on Friday, as Wall Street rose after falling earlier in the week on renewed concerns the U.S. Federal Reserve would raise interest rates in the near-term..

Major Headlines of the day:

GMR to invest Rs471 cr to set up LNG terminal on east coast

SpiceJet plans to list its securities on NSE

IOB to issue over 90 mn equity shares, raise Rs261 cr

RCom, Aircel merger talks extended again by 30 days

Trend in FII flows: The FIIs were net sellers of Rs -743.86 Cr in the cash segment on Friday while the DIIs were net buyers of Rs 597.49 Cr, as per the provisional figures.

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Dollar rises to third weekly gain; stocks jump, Dow up 0.38%

Global equity markets rose on Friday as investors took in stride the possibility the Federal Reserve may hike interest rates in June, a view that helped US bond yields to rise and lifted the dollar to a third straight week of gains.

US home resales rose more than expected in April, suggesting the American economy has continued to gather pace during the second quarter. The data added to a growing perception that a rate hike next month or in July would not derail US growth.

Wall Street rose, following gains in Europe, with the S&P financial sector index rising 0.61 percent as recent comments from Fed officials suggested the possibility of a rate increase as early as June.

Information technology was the biggest gainer among the S&P sectors, rising 1.18 percent, on a higher-than-expected profit forecast from chip company Applied Materials, whose shares closed up 13.8 percent.

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INDIAN EQUITY MARKET OUTLOOK-19 MAY 2016

INDIAN BENCHMARKS Global chaos signal weak start for Indian markets

The Indian shares are likely to see a weak start as the global cues look unsupportive with SGX Nifty trading 27 points lower..

Indian Indices:

Indian equity benchmarks are likely to witness a gap down opening on Thursday amidst uncertainty surrounding US interest rate outlook with the FOMC minutes showing that policymakers discussed the prospect of raising interest rates in June, souring risk taking appetite.

Fed minutes signaled that policymakers said a rise in interest rates next month is warranted if the world’s biggest economy continues to make progress.

Higher interest rates in the US may lead to capital outflows from emerging markets.

Losses in the CNX Nifty Index Futures for May delivery which fell by 0.51 per cent or 40 points at 7,837 at 10:23 AM Singapore time also signal that Dalal Street may open on a bearish note today.

Global Markets:

Asian stocks were trading mixed as commodity producers declined as a surging dollar weighed on metal and oil prices. The dollar jumped as Fed minutes signaled the possibility of a June rate hike.

China’s Shanghai Composite rose, Hang Seng fell and Japan’s Nikkei 225 rallied as a weaker yen bolstered the appeal of exporter stocks.

Wall Street ended on a mixed note on Wednesday as traders weighed the relatively hawkish FOMC minutes.

European stock markets recovered from a weak start on Wednesday, with a rally in banks and a rebound on Wall Street helping to counteract some weak corporate earnings from companies including Switzerland's Sonova.

Major Headlines of the day:

Glenmark gets USFDA nod for rufinamide

Castrol India promoter divests 7% stake viz 34.62 million shares

Indian Hotels puts Taj Boston on block to cut debt

Trend in FII flows: The FIIs were net sellers of Rs -250.70 Cr in the cash segment on Wednesday while the DIIs were net buyers of Rs 239.91 Cr, as per the provisional figures.

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INDIAN EQUITY MARKET OUTLOOK-18 MAY 2016

INDIAN BENCHMARKS Sluggish start on weak global scenario

The Indian shares are likely to see a weak start as the global cues look unsupportive with SGX Nifty trading 31 points lower.

Indian Indices:

Indian equity benchmarks are likely to open on a negative note on Wednesday tracking a mostly bearish trend across Asia and a sell-off at Wall Street overnight amidst growing fears over a near-term US Federal Reserve interest rate hike in the near-term, souring the appetite for risky assets.

Losses in the CNX Nifty Index Futures for May delivery which fell by 0.45 per cent or 35.5 points at 7,873.5 at 10:29 AM Singapore time also signal that Dalal Street may open lower today.

Shares of Corporation Bank, JK Lakshmi Cement, JSW Steel, Punjab National Bank, Tata Communications and Torrent Power will be in focus as these companies unveil their March quarter earnings today.

Traders will also be cautious ahead of the results of assembly elections in Assam, Kerala, Tamil Nadu, West Bengal and Puducherry on Thursday which predicted a Left Democratic Front (LDF) victory in Kerala, and a Bharatiya Janata Party (BJP) win in Assam.

Global Markets:

Asian stockswere trading mostly lower as US economic data bolstered the case for higher interest rates while traders weighed data showing that Japan’s economy grew more than expected in the first quarter, clouding the outlook for further stimulus and the need to delay a sales tax hike.

China’s Shanghai Composite fell and Hang Seng tumbled over 1 per cent while Japan’s Nikkei 225 advanced as Japan’s economy expanded an annualized 1.7 percent in the March 2016 quarter.

Wall Street tumbled on Tuesday as gains in consumer prices with the cost of living in the US climbing by the most in three years, and comments by two Fed officials who called for a rise in US interest rates hit sentiment.

European shares steadied on Tuesday with gains in companies such as Taylor Wimpey and Vodafone following encouraging updates and a rally in mining companies offset by a weaker auto sector.

Major Headlines of the day:

SBI: Looking to merge five subsidiary banks with itself

Glenmark gets FDA approval for generic Rufinamide

Ajay Piramal and Shriram Group plan to combine Finance Businesses

Trend in FII flows: The FIIs were net sellers of Rs -224.97 Cr in the cash segment on Tuesday while the DIIs were net buyers of Rs 384.67 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-13 MAY 2016

INDIAN BENCHMARKS Gap down opening likely for D-Street

The Indian equity benchmarks are poised to open on a bearish note on Friday with traders likely to react negatively to dismal factory data showing a loss of momentum for Asia’s third biggest economy. SGX Nifty is trading 49.00 points down.

Industrial output ( IIP) in India fell by 0.1% in March 2016 from the same month a year ago while consumer inflation jumped to 5.4% in April 2016 from 4.83 per cent in March 2016.

Investors will eye the March quarter earnings numbers from Bank of Baroda, Cadilla Healthcare, Central Bank of India, Dena Bank, UCO Bank and Union Bank to be released

today. Continued jitters over the impact of the India-Mauritius treaty that imposes a capital gains tax on investments coming from Mauritius may also weigh on sentiment.

Indian shares closed higher on Thursday, led by lenders such as ICICI Bank, after the country's upper house of parliament passed a new bankruptcy code to address corporate debts and improve the ease of doing business. The S&P BSE Sensex and CNX Nifty gained 0.75%-0.66% each today.

Global Markets:

Asian shares got off on the back foot on Friday, while the yen nursed losses as traders wagered the Bank of Japan will add to its massive stimulus before too long.

The Dow barely eked out a gain on Thursday as a slump in technology shares, highlighted by a steep slide in Apple, pressured the market, dragging the S&P 500 and the Nasdaq Composite lower.

European stocks fell on Thursday after a choppy session, weighed down by some disappointing earnings updates, while Bayer and BASF dropped on reports they could be interested in buying Monsanto.

Major Headlines of the day:

Bharti Airtel sets a benchmark of 1.5% for call drops for itself.

Nestle struggles to get out of the woods.

TVS Srichakra plans Rs160 crore capex.

Vu Tech to enter more cities, eyes Rs500 cr sales in FY17

Trend in FII flows: The FIIs were net sellers of Rs -24.14 Cr in the cash segment on Thursday while the DIIs were net buyers of Rs 258.35 Cr, as per the provisional figures

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CapitalStars Financial Research Financial Advisory Services

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