The outlook is a positive start. Asian indices traded in the green even as the Japanese Nikkei traded flat after yesterday's 500 point rally. Renewed bout of global growth optimism saw equities regain momentum as investors bought stocks. Emerging markets also are seeing value buying emerge as investors allocate funds to EM ETF"s.
The street expects some bustle in the days ahead with earnings, Trump swearing-in, Union budget and of course the assembly polls in 5 states which commence from Feb 4. On Wednesday again, the market settled flat after a choppy trade, mapping the GST council meet’s indecisiveness which will make an April 1 rollout a difficult task. Domestic funds have managed to absorb most of the selling by foreign investors in the last couple of days. Global cues are just about positive.
The Dollar has shed some weight. Minutes from the Fed’s December meeting mention "substantial uncertainty" about fiscal policy ahead following Trump victory; a "more expansionary fiscal policy" raises possibilities of "somewhat tighter monetary policy than currently anticipated."
Moody’s said strong GDP growth, capacity additions and stabilising commodity prices will support EBITDA growth of 6-12% over the next 12-18 months for India. Foreign direct investment in the country rose 27% yoy during April-Oct FY17 to $ 27.82 bn.
Nifty consolidated around 8200 with banks stocks being under pressure after the recent round of rate cuts. Materials, infra & IT stocks lead from the front with huge buying seen in mid cap leveraged stocks which should be prime beneficiary of lower rates. Nifty may consolidate around 8200 with an attempt to cross the 200 DMA placed @ 8270 with the real action being in the broader market.
Among other stocks in focus are:
HDFC Bank: HDFC Bank cut its benchmark lending rate by up to 0.90% joining over a dozen banks and housing finance companies that have slashed rates in last few days.
Chambal Fertilisers and Chemicals: BSE on Wednesday asked Chambal Fertilisers and Chemicals (CFCL) to explain reasons for sharp increase in trade volumes of its shares. The share price of the company closed 10.49 per cent up at Rs 78.45.
Prima Plastics: The company informed bourses that Prima Dee-Lite Plastics sarl at (Camerron, West Africa) has successfully completed expansion project undertaken to enhance its capacity of production. The existing capacity of the company of 4,500 tonne per annum is increased to 8,500 tonne per annum. The commercial production at the plant has commenced on January 3.
M&M: Mahindra & Mahindra appointed J.P. Morgan Chase Bank, N.A. as its overseas depositary for managing its Global Depositary Receipt programme with effect from January 03.
SAT Industries: The company to hold a board meeting on January 16 to consider allotment of equity shares and to make further investments in its subsidiary company.
Dena Bank: The lender to hold board meeting on January 7 to consider raising of funds.
Gati: Promoter TCI Finance's pledged share were invoked by IDFC Bank. TCI Finance now holds 6.27 percent stake in the company.
BAFNA Pharmaceuticals: The company to hold board meeting on January 7 to consider a proposal to issue 8 million share warrants.
Tata Elxsi: The company partners with Irdeto to provide automakers with secure in-car display systems for automobiles.
LT Foods: The owner of 'Daawat' brand of rice has fixed February 8 as record date for the purpose of sub division of equity shares.
SAIL: The country's largest steel maker SAIL said it has produced 10.18 million tonnes of saleable steel in April to December period of the current fiscal, registering a 15 per cent growth over the year-ago period.
DHFL: The company reduced its home loan lending rates by 0.5 per cent in line with competitors.
Petron Engineering: The company on Wednesday informed bourses that it has received Letter of Intent from Shree Cement, for civil work of plant building & silos and misc. work at their Orissa Grinding Project for contract value of Rs 33 crore.
Sun Pharma: Pharma player Sun Pharma announced successful Phase 3 confirmatory clinical trial results for Seciera for the treatment of dry eye disease.
Tech Mahindra: Country's fifth largest software exporter Tech Mahindra on Wednesday launched a majority-owned joint venture in Saudi Arabia in partnership with local conglomerate Al Fozan Group.
The street expects some bustle in the days ahead with earnings, Trump swearing-in, Union budget and of course the assembly polls in 5 states which commence from Feb 4. On Wednesday again, the market settled flat after a choppy trade, mapping the GST council meet’s indecisiveness which will make an April 1 rollout a difficult task. Domestic funds have managed to absorb most of the selling by foreign investors in the last couple of days. Global cues are just about positive.
The Dollar has shed some weight. Minutes from the Fed’s December meeting mention "substantial uncertainty" about fiscal policy ahead following Trump victory; a "more expansionary fiscal policy" raises possibilities of "somewhat tighter monetary policy than currently anticipated."
Moody’s said strong GDP growth, capacity additions and stabilising commodity prices will support EBITDA growth of 6-12% over the next 12-18 months for India. Foreign direct investment in the country rose 27% yoy during April-Oct FY17 to $ 27.82 bn.
Nifty consolidated around 8200 with banks stocks being under pressure after the recent round of rate cuts. Materials, infra & IT stocks lead from the front with huge buying seen in mid cap leveraged stocks which should be prime beneficiary of lower rates. Nifty may consolidate around 8200 with an attempt to cross the 200 DMA placed @ 8270 with the real action being in the broader market.
Among other stocks in focus are:
HDFC Bank: HDFC Bank cut its benchmark lending rate by up to 0.90% joining over a dozen banks and housing finance companies that have slashed rates in last few days.
Chambal Fertilisers and Chemicals: BSE on Wednesday asked Chambal Fertilisers and Chemicals (CFCL) to explain reasons for sharp increase in trade volumes of its shares. The share price of the company closed 10.49 per cent up at Rs 78.45.
Prima Plastics: The company informed bourses that Prima Dee-Lite Plastics sarl at (Camerron, West Africa) has successfully completed expansion project undertaken to enhance its capacity of production. The existing capacity of the company of 4,500 tonne per annum is increased to 8,500 tonne per annum. The commercial production at the plant has commenced on January 3.
M&M: Mahindra & Mahindra appointed J.P. Morgan Chase Bank, N.A. as its overseas depositary for managing its Global Depositary Receipt programme with effect from January 03.
SAT Industries: The company to hold a board meeting on January 16 to consider allotment of equity shares and to make further investments in its subsidiary company.
Dena Bank: The lender to hold board meeting on January 7 to consider raising of funds.
Gati: Promoter TCI Finance's pledged share were invoked by IDFC Bank. TCI Finance now holds 6.27 percent stake in the company.
BAFNA Pharmaceuticals: The company to hold board meeting on January 7 to consider a proposal to issue 8 million share warrants.
Tata Elxsi: The company partners with Irdeto to provide automakers with secure in-car display systems for automobiles.
LT Foods: The owner of 'Daawat' brand of rice has fixed February 8 as record date for the purpose of sub division of equity shares.
SAIL: The country's largest steel maker SAIL said it has produced 10.18 million tonnes of saleable steel in April to December period of the current fiscal, registering a 15 per cent growth over the year-ago period.
DHFL: The company reduced its home loan lending rates by 0.5 per cent in line with competitors.
Petron Engineering: The company on Wednesday informed bourses that it has received Letter of Intent from Shree Cement, for civil work of plant building & silos and misc. work at their Orissa Grinding Project for contract value of Rs 33 crore.
Sun Pharma: Pharma player Sun Pharma announced successful Phase 3 confirmatory clinical trial results for Seciera for the treatment of dry eye disease.
Tech Mahindra: Country's fifth largest software exporter Tech Mahindra on Wednesday launched a majority-owned joint venture in Saudi Arabia in partnership with local conglomerate Al Fozan Group.
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