MARKET WRAP: Sensex ends 159 pts down, Nifty at 10,657; metals, realty slip

Among sectoral indices, the Nifty Metal index ended 1.8 per cent lower led by a fall in the shares of Jindal Steel & Power and National Aluminium Company.

8:50 AM

Top stock ideas by Angel Broking: Bullish on ACC

ACC

View – Bullish

Last Close – Rs 1294.65

 

Justification – We have been quite upbeat on the ‘cement’ space since last couple of weeks. Initially, it sounded a contradictory approach; but the way some of the cement stocks bounced back this week, the strategy seems to have played out well for us. ‘ACC’ continue to remain amongst the preferred choices, even after a four percent move. The weekly and daily charts look quite promising and hence, the stock is likely to extend this relief rally in coming days. We increase our near term target for this stock towards Rs 1420. Traders can keep their stop losses at Rs 1279. READ MORE

8:42 AM

Antique Research on Emami

The company plans to continue to invest in new brands to drive growth. The management currently is confident of maintaining EBIDTA margin despite the input cost inflation and increase in ad-spends. In view of the underperformance during 4QFY18, we cut FY19e/FY20e EPS forecasts by 5%/7% respectively. We expect Emami to deliver revenue and EBITDA CAGR of 17% and 18% respectively over FY18e-20e. We maintain BUY with a revised target price of Rs 1,192

8:41 AM

Nifty outlook by Prabhudas Lilladher

 

Nifty as of now took support at around 10,550 levels and recovered to move past 10,700 levels but still the conviction has not been maintained for further upward movement until it moves past 10,750-10,770 levels decisively. Bank Nifty also showed some sort of resistance at around 26,450 levels and the chances of some profit booking cannot be ruled out in the coming days. However, the support for the week is seen at 10,520 while resistance is seen at 10,880.

8:41 AM

PORTFOLIO CHURN Chris Wood of CLSA rejigs portfolio (Image source: Wood's weekly newletter, GREED & fear)

The following asset allocation change will be made for the Asia Pacific ex-Japan relative-return portfolio. The Underweight in Indonesia will be increased by one percentage point to Neutral. This will be paid for by shaving the Overweight in Thailand by one percentage point to Neutral

 

8:36 AM

Markets on Friday

S&P BSE Sensex	35,423.48		1.10%
Nifty 50	10,714.30		1.18%
S&P BSE 200	4,608.29		1.28%
Nifty 500	9,162.45		1.39%
S&P BSE Mid-Cap	15,450.90		1.81%
S&P BSE Small-Cap	16,032.15		1.92%

8:32 AM

ICICI Securities on Tata Motors

Tata Motors owned Jaguar & Land Rover (JLR) at its recently held Investor Day, highlighted its business challenges & strategies for the way forward. JLR has laid down its strategy that focuses on 1) increasing its offering of advance driver-assistance system (ADAS) that is shaping up the industry; 2) to launch four new models thereby taking total nameplate to 16 by FY24E; 3) focus on cost (via engineering capabilities, globalise sourcing & managing SG&A) and; 4) improving the financial performance (for FY19-21E, its EBIT guidance maintained at 4-7% while investment is expected to be £4.5 bn per annum). The huge investment will have near term impact on cash flow though the same will improve, going forward.

8:30 AM

MARKET COMMENT

​​We will continue to see stock-specific approach in the market as most global clues are negative. With April-June 2018 (Q1FY19) earnings approaching, the current consolidation phase offers good opportunity for investors with 3-5 years perspective. Also, we will see auto stocks  in focus as the auto companies will start announcing monthly sales numbers for June 2018 starting from July 1. On the macro front, Markit Economics will unveil the result of a monthly survey on the performance of India's manufacturing sector in June 2018 on Monday

(Source: Rahul Sharma, Senior Research Analyst, Equity99)

8:28 AM

MUST READ Fortis Healthcare management charts recovery plan amid financial crisis

Even as debt-strapped Fortis Healthcare (FHL) is grappling with financial crisis, challenges to recruiting talent, and finding a suitor to invest in the health care major, the current management team is working to put the hospital and diagnostic major back on the growth path.

 

Plans are afoot to start a new 250-bed multi-organ transplant centre at Arcot Road in Chennai, apart from expanding SRL Diagnostics’ footprint (target to open 100 new centres over the next 100 days), as well as rope in over half a dozen new specialist doctors to boost revenue CLICK HERE FOR MORE

8:27 AM

SGX Nifty

 

Trends on SGX Nifty indicate a flat opening for the broader index in India, a fall of 0.5 points or 0.02 per cent. Nifty futures were trading around 10,691-level on the Singaporean Exchange.

8:27 AM

At 3%, FDI inflows clocked slowest growth rate of last five years in FY18

Foreign direct investment (FDI) in India seems to be petering out with the inflows growth rate recording a five-year low of 3 per cent at $44.85 billion in 2017-18. According to the latest data of the Department of Industrial Policy and Promotion (DIPP), FDI in 2017-18 grew by only 3 per cent to $44.85 billion READ MORE

8:23 AM

Asian markets trade mixed

 

Asian stocks were narrowly mixed on Monday, the first trading day of the second half of the year, with trade tensions between the US and its trading partners still a key concern for investors. The Nikkei 225 slipped 0.23 per cent as the consumer goods and utilities sectors logged declines.

 

The Kospi was little changed, with the index last trading lower by 0.06 per cent while the S&P/ASX 200 edged up by 0.14 per cent.

8:18 AM

Wall Street ekes out gain

 

Wall Street's major stock indexes edged higher on Friday, as a surge in Nike Inc shares helped the quarter close out on an upswing while concerns over US international trade relations ebbed. For the quarter, the Dow, the S&P 500 and the Nasdaq all posted gains. The Dow edged up 0.7 per cent, the S&P 500 rose 2.94 per cent, and the tech-heavy Nasdaq jumped 6.33 per cent.

8:15 AM

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