FIIs were net buyers in the cash segment on Monday at Rs1.52bn on a provisional basis. The local funds were net sellers of Rs214.6mn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net buyers at Rs128.2mn. As per the SEBI figures, FIIs were net sellers of Rs8.9bn in the cash segment on Friday.
We expect a flat start today after Monday’s advance. Overall, the market will be choppy and rangebound. Technically, 5300 continues to be a major hurdle for the Nifty. If it is breached convincingly, the Nifty could head for 5400-5420. Support is likely at 5180-5200. A spate of stock-specific action will persist so avoid taking a broader view for now. For some time, the market may seem to go nowhere but individual stocks could have their moments of glory.
Markets have never been known to be rational. But there is some relief for households and corporates alike as sugar prices are getting rational. It remains to be seen if the Government manages to lower prices of other essential commodities as well. But, the relief may turn out to be temporary as ad-hoc measures can have only a limited impact on inflation. In any case, one should brace for a gradual and calibrated rise in interest rates.Asian shares are flat in a quiet trade, as investors await key earnings from across the globe. Gains in commodity-sector firms, helped European stocks end higher. US markets were shut due to a holiday.
Gail India, HT Media, IL&FS Investment Managers, Infotech Enterprise, Jaiprakash Associates, Sesa Goa, Shriram Transport, Sterlite Technologies and Zee Entertainment.
FCS Software to create and build more value of shareholders it is expected that announce 2:1 Bonus as a new year valuable gift as new year wishes to its shareholders
FCS Software is engaged in open source competency, Microsoft technologies, oracle based applications, content management, systems, work group, e-learning & digital contents.
FCS had completed its GDR allotment @ Rs.11.15 (Re 1 paid up) per share. Total GDR size was of Rs 112cr.s After completing these will result into more benefits to the co expansion, acquisition & new software developments
Co profits and turnover will be 2X in the Current Year.
Today we expect a soft opening as most global markets are in the red. The sluggish market provides an opportunity to get out of weak counters and enter relatively stronger ones. Medium to long term outlook for India is upbeat. Immediate support for the Nifty is likely to kick in at 5180-5200. Below that the levels to watch are 5150 and 5100. On the way up, the Nifty may continue to find resistance at around 5300.The quarterly numbers so far give faith that companies have done well not just by cutting costs but also by improving sales. Even as most numbers have beaten street expectations, skeptics have their doubts; they would rather wait till many more numbers are seen. The result season will switch into a higher gear even as the market awaits the RBI’s policy action.
Inflation has jumped quite a bit in recent times, especially on the food front. Though monetary policy has no direct impact on prices, the RBI is under pressure to reign in inflation expectations. A CRR hike has been discounted while a rate hike will definitely surprise the markets.On the global front too, corporate results have started coming in and could have a bearing on sentiment in case of any nasty surprises. US stocks fell by 1% on Friday despite good results by JP Morgan Chase and Intel. In fact, Wall Street suffered its worst one-day fall in 2010. US markets are shut today on account of Martin Luther King Jr. day holiday.
FIIs were net sellers in the cash segment on Friday at Rs9.3bn on a provisional basis. The local funds were net buyers of Rs6.8bn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net buyers at Rs7.09bn. As per the SEBI figures, FIIs were net sellers of Rs1.36bn in the cash segment on Thursday.
HDFC Bank – Q3 FY10 result expectations
- Net interest income up 9.8% yoy and 11.1% qoq.
- Net profit up 18.8% yoy and 7.4% qoq.
- NIM to improve on sequential basis, as the bank continues to focus on retail business.
- We have factored in a 7% qoq growth in loans and 6% qoq growth in deposits, with higher share of CASA deposits.
- Concerns over asset quality may be reasonable.
We expect strong quarterly numbers from HDFC bank,
highest in our coverage universe. Maintain BUY.
Buy and Hold HDFC BANK at 1674
SL 1600 HOLD for 1704 & 1777 plus
India’s inflation, as measured by the wholesale price index (WPI), stood at 7.31% for December 2009 as compared to 4.78% for the previous month. Inflation was at 6.15% during the corresponding month of the previous year.
Inflation for Food Articles rose to 3.11% in December 2009 as compared to 2.70% in the same period last year. Non-Food Articles inflation rose to 0.48% from 0.12% in December 2008 and Minerals inflation was at -0.06% versus -0.03% in December 2008.
Today, after two straight days of gains means that the NSE Nifty is yet again staring at 5,300. Global cues are supportive though not by a great deal. A positive start is what we are looking for. A slew of big results are lined up and could swing the sentiment either way though we don’t see any major nasty surprise.It remains to be seen whether the Nifty manages to close above 5,300, which in recent past has proved to be a tough barrier to break. If it does that it could head for 5,350-5,400 in the near term. On the downside support is at 5,200. The bias remains cautiously optimistic but volatility will persist.
Inflation is a big worry and could play spoilsport. Though a CRR hike has already been discounted there are fears that the central bank may turn hawkish as far as policy rates are concerned. In the long run, the Government needs to overcome supply side constraints to contain prices.
We expect TCS to post 3.2% QoQ growth in PAT. HDFC Bank is projected to report ~19% jump in bottom-line YoY. Axis Bank is likely to report 2.3% YoY rise in PAT.
FIIs were net sellers in the cash segment on Thursday at Rs3.12bn on a provisional basis. The local funds were net buyers of Rs5.29bn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net buyers at Rs2.54bn. As per the SEBI figures, FIIs were net sellers of Rs435mn in the cash segment on Monday.
Axis Bank, Balaji Tele, DCB, Escorts, Finolex Cables, HDFC Bank, IDBI Bank, IndusInd Bank, NIIT Tech, Shree Renuka Sugars, TCS and UCO Bank.
Today we see a firm start, thanks largely to stability in global markets. A good quarterly earnings season may have been discounted but that doesn't prevent companies like Infosys and Bajaj Auto from surprising the street on the upside. Also be prepared for a few nasty surprises. Don’t expect a flying performance from equities this year, as 2010 could turn out to be a year of consolidation. The market will also be pretty volatile, and could surprise on both the sides. So, it is time to be level headed and a bit cautious too. We are not saying that there will be a big fall. Just don’t expect a repeat of last year’s spectacular rally.
Inflation, especially on the food front is a major concern. Even non-food items are beginning to see an uptick. Fuel prices may also inch up in the near term. The Government will announce the latest monthly inflation data today, along with the weekly food and fuel inflation.
Today,disappointing results from Alcoa and China’s surprising hike in the CRR seems to have spooked the already sluggish global equity markets. The Indian market too eased off despite Infosys’ stellar results and strong IIP numbers. With inflation flaring up in recent times, the market fears a sharp reaction from the RBI at this month’s policy meeting. However, concerns on interest rates appear to be exaggerated. A small increase in CRR or even in policy rates should not be such a big issue for markets.Central banks around the globe are unlikely to reverse the monetary stimulus at the same pace as they unleashed them at the height of the financial crisis. The unwinding in the stimulus is going to be a gradual process unless economic recovery outpaces expectations.
The Nifty is all set to fall below 5,200 at the start given the weakness across global markets. Metals shares could take a hit following the China announcement. The Nifty could find some support at 5,180-5,150 levels. If it breaches this range it could head for 5,050. On the upside resistance remains at 5,250 and 5,310.
Market likely to range bound
Small & Mid Cap Stock will in lime light
Bajaj Finserve, Bajaj Auto, Infosys,
Indowind Energy, Jaypee Power (formerly Jaypee Hydro),
Mastek, Piramal Lifesciences,
Nectar Lifesciences and TTK Prestige.
Today,we expect a soft opening as most Asian markets are in the red. Results and commentary from top management of Infosys and Bajaj Auto could change the tempo later in the day. Stronger than forecast IIP data may also boost sentiment. Overall, the current phase of consolidation may extend for a few more days till there is further clarity on the health of the economy and India Inc. The NSE Nifty is likely to trade in a broad range of 5182 to 5310. Beware of the unusual spurt in some non-index stocks.
The bulls will hope the earnings season gives them more reasons to hold on to quality companies and dump the inferior ones. Infosys and Bajaj Auto are the big companies declaring their results today. We expect Infosys to report 0.4% QoQ growth in revenues and 6.3% sequential decline in PAT. For Bajaj Auto, we expect 65% YoY jump in revenues and 189.6% YoY jump in PAT.
IIP data for November is due around noon today, and monthly inflation data is scheduled to be released on Thursday. Industrial output is seen rising by 10% in November from a year earlier after expanding by 10.3% in October. Marketmen will watch these crucial data points for cues on what action, if any, the RBI will take on Jan. 29.
FIIs were net buyers in the cash segment on Monday at Rs30.42bn on a provisional basis. This includes the treasury sale by Reliance Industries. The local funds were net buyers of Rs3.22bn, according to figures published on the NSE's web site. As per the SEBI figures, FIIs were net buyers of Rs1.5bn in the cash segment on Friday.
FIIs were net buyers in the cash segment on Friday at Rs693.8mn on a provisional basis. The local funds were net buyers of Rs1.82bn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net sellers at Rs7.75bn. As per the SEBI figures, FIIs were net buyers of Rs3.02bn in the cash segment on Thursday.
Today,we expect a slightly positive start as most Asian markets are in the green. Things should turn choppy again later in the day. Strength in brokerages has lifted China and Hong Kong after Beijing approved index futures. Chinese exports have rebounded and imports too have surged. Consolidation seems to be the name of the game as bulls seek a strong foundation amid uncertainty over the prospects for 2010. Bulls and bears both seem to be lacking conviction for the moment; perhaps waiting for further clarity on economic recovery and corporate earnings.
Events scheduled for this week and the month could help shape the opinion about the outlook in near future. IIP data for November will be out on Tuesday while the monthly inflation report is due out on Jan. 14. Infosys, TCS, Bajaj Auto, HDFC Bank, Axis Bank and UltraTech Cement will announce results this week. Later this month, the RBI and the Fed will hold policy meetings. The ECB meets on Thursday but is unlikely to alter its monetary policy just yet.
