Sensex ends flat, Nifty holds 10,600 ahead of Q3 earnings season

9:19 AM

Markets at open

S&P BSE Sensex	34,538.78		0.28%
Nifty 50	10,655.25		0.17%
S&P BSE 200	4,757.55		0.25%
Nifty 500	9,640.75		0.00%
S&P BSE Mid-Cap	18,208.62		0.19%
S&P BSE Small-Cap	19,961.33		0.25%

9:09 AM

Indian stock euphoria to fizzle out, investor won't make much money: UBS

 

The euphoria that’s seen Indian equities building on record highs this year will fizzle out, UBS Securities India says.

 

The NSE Nifty 50 Index will close at around 10,500 points on Dec 31, analysts led by Gautam Chhaochharia wrote in a note on Monday, suggesting investors won’t make any profits from the gauge of the nation’s biggest companies.

 

“A goldilocks scenario of a sharp earnings recovery, but with continued robust macro stability (benign inflation and currency rates) appears priced in,” Chhaochharia said in the report. READ MORE

9:06 AM

Fundraising through SME IPOs hits all-time high, rises Rs 134.2 mn in 2017

 

The year 2017 was the best year for public share sales of small and medium enterprises (SMEs) as individual investors, lured by past returns, flocked to pick up these offerings. The SME platform witnessed 133 offerings, mopping up Rs 16,795 million last year, higher than the combined amount raised in the previous five years.

 

The total number of SME issues since 2012 now stand at 332. The average SME IPO size has risen 1.64 times to Rs 134.2 million in 2017, from Rs 81.8 million in the previous year, according to Pantomath Advisory Services Group data. READ MORE

8:57 AM

Technical calls by HDFC Securities

Buy Torrent Power

CMP: Rs 290

SL: Rs 275

Target: Rs 310
 

Stock has closed at its new all-time high of 290. Stock price has broken out from the consolidation range 250-285, that was holding for last two months. Primary trend has s bullish with higher tops and higher bottoms on the weekly charts. Oscillators have been showing strength in the counter last many days. Considering the technical evidences discussed above, we recommend buying the stock between 290 and 280, for the target of 310, keeping a stop loss at 275 on closing basis. 

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8:54 AM

Nifty View by HDFC Securities: 

 

Nifty has been rising for last 6 sessions and it has registered new all-time high at 10,646. Though the trend is bullish and gains are extending on the daily basis, advance decline ratio does not reflect the confidence of the bulls in the trading. Support is now shifted upward to 10,550, which happened to be the previous top on the daily charts. As far as resistance is concerned, the levels to watch out for are 10,740 and 10,900.

8:51 AM

Technical calls by Prabhudas Lilladher:

BUY CHENNAI PETRO

CMP: Rs 442.50

TARGET: Rs 475

STOP LOSS: Rs 420
 

The stock has been moving in a trending mode upward making series of higher bottom formation pattern in the daily chart. Currently also it has taken support at the cluster of significant moving averages of 34 WMA and 144 WMA and has shown a positive bias with a trend reversal in the RSI to signal a buy with a steep rise. The volume participation has been tremendous and we recommend a buy in this stock for an upside target of 475 keeping a stop loss of 420. 

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8:48 AM

Nifty outlook by Prabhudas Lilladher:

 

Nifty took a breather to the ongoing rally to end on a flat note, while the sentiment is still maintained positive and as of now we have a good support at 10,500 -10,520 levels. However, the support for the day is seen at 10,580 while the resistance would be at 10,690 levels.

8:46 AM

India has enormous potential, says World Bank, projects 7.3% growth in 2018

 

With an "ambitious government undertaking comprehensive reforms", India has "enormous growth potential" compared to other emerging economies, the World Bank said on Tuesday, as it projected country's growth rate to 7.3 per cent in 2018 and 7.5 for the next two years.

 

India, despite initial setbacks from demonetisation and Goods and Services Tax (GST), is estimated to have grown at 6.7 per cent in 2017, according to the 2018 Global Economics Prospect released by the World Bank here on Tuesday. READ MORE

8:43 AM

Oil prices hit highest since 2014

 

Oil prices hit their highest levels since 2014 on Wednesday due to ongoing production cuts led by OPEC as well as healthy demand, although analysts cautioned that markets may be overheating.

 

A broad global market rally, including stocks, has also been fuelling investment into crude oil futures.

 

US West Texas Intermediate (WTI) crude futures were at $63.40 a barrel - 44 cents, or 0.7%, above their last settlement. They marked a December-2014 high of $63.53 a barrel in early trading.

8:41 AM

Asian shares flat

Asian shares hovered just below their 2007 record peak on Wednesday, supported by expectations of solid corporate earnings on the back of synchronised growth in the global economy.

 

MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was little changed in early trade, sitting just 0.4% below the record high touched in November 2007, having risen for six straight days since the start of new year.

 

Japan's Nikkei was also flat in early trade, near a 26-year high hit the day before.

8:39 AM

Wall Street extends gains

 

Wall Street’s major indexes extended the New Year rally to close at record levels on Tuesday on investor optimism ahead of quarterly earnings reports and hopes for easing tensions with North Korea.

 

The Dow Jones Industrial Average rose 102.8 points, or 0.41%, to 25,385.8, the S&P 500 gained 3.58 points, or 0.13%, to 2,751.29 and the Nasdaq Composite added 6.19 points, or 0.09%, to 7,163.58.

8:31 AM

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