Markets clock record turnover of Rs 2.82 lakh crore on the expiry day

Dalal Street underperformed the global equity markets this week, thanks to F&O expiry on thursday, only to see Asian peers sliding on Friday. Wall Street closed flat after Dow lost more than 100 points at one point of time.

Nikkei is trading down on Friday morning due to continued strength in the yen while Australia is trading marginally down.

Q2 Numbers - No major impact

While Q2 numbers were inline with market expectations, stocks started feeling the heat after announcement of numbers. We believe markets have discounted the current Q2 numbers way before. Except for fund inflows we do not see any other major reason for the markets to go up. Refunds will hit the market anytime and there is an absolute reason to be bullish.

Textile Stocks

Despite of strong raw material costs in the form of rising cotton price, textile stocks are buzzing on the street as retail business is picking up and partly due to monetizing their land banks.

We expect this sector to extend the current rally and might see a multi-year rally with intermediate corrections

Dalal Street likely to witness ranged trade

Indian equity markets are expected to trade in a tight range on the F&O expiry day after moving voilently in the past three trading sessions.

U.S. stocks on Wednesday pared their losses in late trading Wednesday as investors recalibrated their expectations for a major bout of easing by the Federal Reserve to stimulate the economy. Expectations are now increasing for the Fed to unveil a program of U.S. Treasury bond purchases of a few hundred billion dollars over several months, an approach in contrast to the central bank's purchases of nearly $2 trillion of bonds during the financial crisis.

Asia mixed on thursday

While Australian stocks shot up one percent as bank stocks spiked up, Japan's Nikkei is down marginally.

F&O Expiry today

It is funny but surprising that the last three days market moves are exactly resembling last month's trading pattern before expiry. We expect extremely ranged trade and neither expect volatility nor big moves.

While 10 pct correction in the markets buzz is again doing rounds, we do not see there is a valid point for correction at this given time. Fresh Inflows are on the cards and Coal India refunds will certainly boost the markets. Orchestrated market moves during F&O do not given momentum or trend indicators. Infact one should not even consider the market mood or trend in the F&O week for trying to analyse short, medium term trends.

Indian Stocks to see a positive opening

Stocks on Dalal Street might see a gap up open today but thursday's F&O expiry might weigh on the street. It will be an interesting fight between the inflows to the street from Coal India IPO and F&O market makers who might want to inflict "Max Pain" to traders.

Wall Street closed the day pretty flat with no major cues. Japan's Nikkei and Australian markets are trading in the green on Wednesday morning.

Q2 Inline with expectations

Second Quarter numbers declared by majority of the companies are inline with expectations and we find many stocks taking a hit (in terms of stock price) as markets have discounted current performance.

Except for couple of companies like TCS, IB Financials, Guj Amb Exports rest of the crowd appeared to have met the expectations with the exception of Wipro.

Nifty to trade in a band

While hitting new highs might be a no brainer before Diwali, it is tough to expect Nifty to make big moves in the next two days. F&O expiry slated for thursday is likely to weigh on the markets. While "Max Pain" is showing a Nifty close around 6000 levels again tomorrow, one need to see if the concept works this month also.

Asia trading marginally in the red, Dalal Street to see subdued opening

Wall Street extended three weeks of gains Monday on weaker US dollar and expectations of another round of stimulus helped stocks move higher. While the above two factors are helping US stocks right now,longer-term effects of the Fed’s expected resumption of bond purchasing need to be seen.

Asian markets are trading weak on Tuesday on flattish global cues. We expect a range bound trading sessions across the globe today, on absence of major news flow.

Dalal Street - Still in a band ?

Despite of all the bullish momentum, for now we expect the street to trade in a band with upside capped at 6170. We believe the level will be washed off after FII refund money from Coal India flows into Dalal Street.

Power Ancillaries, Sugar as sectors look better than the rest while stock specific action based on Q2 numbers is the current theme. Hindustan Unilever declared very good Q2 and same did TCS among the large cap stocks.

Real-time Portfolios, started on August 16 are delivering pretty good results and we expect much more to come in the immd future

Bajaj Auto to join Sensex while ACC moves out

Dalal Street opens to flattish global cues though Singapore Nifty is pointing to a mini gap upmove in the early trades. Wall Street closed flat on Friday while Asian stocks are trading in a boring fashion Monday morning.

Australian shares shot up after Singapore SGX confirmed it is buying Australia ASX for about 8.4 billion Australian dollars ($8.3 billion). Watch out for Financial Technologies on Dalal Street which owns multiple exchanges.

Bajaj Auto Ltd will again be among India's top 30 companies that form the Bombay Stock Exchange's Sensitive Index, or Sensex, after getting excluded from the benchmark on March 14, 2008.

Also GlaxoSmithKline Pharmaceuticals, Zee Entertainment,Rural Electrification and Yes Bank Ltd. were included in the BSE-100 Index.

Refunds from Coal India IPO to push markets higher

FII refunds from Coal India IPO are expected later in this week and part of the money might find its way to Dalal Street. We believe new highs before Diwali cannot be ruled out and investors should stay invested. ET reports that the finance ministry could move a bill in the winter session that will make Nabard regulator of all non-profit microfinance institutions. If this turns true SKS Micro might move down hill

Stocks set to open higher,

Dalal Street is all set to open higher on Friday thanks to positive Asian markets and renewed buying momentum after yesterday's big rally. Wall Street closed in the green while Asia opened strong today. Nikkei is up 0.4 pct while Kospi is trading 0.9 pct

TCS - Strong numbers

TCS posted a 32% increase in net profit to Rs 2169 crore in the second quarter ended September 2010, boosted by increased outsourcing orders from overseas clients.

TCS was the first IT company to clock $2bn revenue. Current workforce utilization is 83.8 per cent, the highest ever recorded by the company
All in all the stock will get a rousing reception today.

ACC - Q2 disappoints

ACC reported a 77% drop in its quarterly standalone net profit at Rs 100.04 crore. Total income dipped 15.8% to Rs 1,688 crore.

Q2 numbers today

Biocon, Indian Bank, NIIT, SKS Micro, Sobha Developers, Thomas Cook, Vijaya Bank and Wipro reports today.

Nifty looks strong

Thumping response to Coal India and reports that part of the money refunded from Coal India IPO might find its way back to the secondary market is definitely a reason to cheer for Bulls. Q2 numbers were inline with expectations and companies like TCS have outperformed too.

We would stick to our Technical level of 6170-6180 band, a break above which Nifty will see a rocket like move.

Dalal Street might rebound today, TCS reports Q2

Indian markets are likely to marginally gap up today after a series of bloody afternoons from the past five trading sessions with the exception of Monday. Wall Street closed on a firm footing on Wednesday and recouped most of the Tuesday's losses.

Asia trading flat

Asian markets failed to take the advantage of overseas cues and are trading mixed on Thursday. Nikkei is down 54 points while Australian markets are trading marginally up.

Dalal Street - To witness volatility

Coal India IPO Thursday is the last day of bidding for retail and other noninstitutional investors including HNIs, while yesterday was the last day of bidding for institutional investors, that is foreign funds, local insurance companies and mutual funds. Among the global financial majors, Janus Capital , Blackstone, Temasek, Fidelity, T Rowe Price and Putnam have put in bids of $200 million each, quotes Times of India .Even the retail portion was almost fully subscribed with a day to go.

Nifty has hit our magic 5970 level in the final hour yesterday only to bounce back. We expect Nifty to trade above 6000 levels and it is extremely confusing to pick up direction in Nifty. Again we advice to play the market with technicals

Bears go hysteric, Asia tanks

Wall Street's witnessed the worst day in two months on Tuesday with bears all over the place on different local and global factors. US Dollar surges to two-week highs while China unexpectedly raised its benchmark lending and deposit rates for the first time since 2007 ahead of data that may show inflation accelerated to the fastest pace in almost two years. Stocks and commodities fell.

Asian stocks sink

Wednesday morning witnessed carnage in Asian markets, thanks to global cues. Chinese rake hike might take toll on India metal stocks too.

Dalal Street - Nifty likely to test supports

Dalal Street which is trading with a negative bias from the past 5 trading sessions is likely to gap down with Nifty attempting another breach of support level at 5970. Below 5970 one might witness a big slide in the benchmark indices.

For now stay invested though correction cannot be ruled out.

Bulls out in force, Asia in green

Dalal Street will see a gap up opening today on positive global cues and Nifty after taking support at expected levels might see a bullish run in the next few days. Wall Street closed with decent gains while IPod/Ipad manufacterer Apple declared good numbers but pressure on margins which sent the futures down.

Asian markets in green

Taking a cue from the US markets Japanese bank shares pushed Nikkei to higher levels while Hangseng too is trading with good gains.

Dalal Street might start the upward journey

After a quick slide in the last three days with a big recovery yesterday, Dalal Street is all set to resume its upward journey. But we do not expect a run away rally for today. Bank stocks might get a cue from Asian peers.

Technically Nifty should close above 6200 for a big move. Reports of IOC planning to raise about Rs 19,000 crore might not gel well with the market but for now things look positive

Asia trading mixed, Dalal Street to open flat

Coal India IPO opens, pre-market session at BSE & NSE from today

Dalal Street opens to a mixed bag on Monday morning after volatile trading last week with global markets trading flat. Wall Street closed mixed with technology stocks moving up and Dow Jones closing in the red.

Asian Markets

Japanese Nikkei is trading flat with a marginal gain of 30 points while Australia is trading in the red.

Coal India IPO opens today

Coal India, the biggest IPO so far in the history of corporate India, will open on Monday to mop up Rs 15,000 crore to beat the Rs 11,700-crore offering from Anil Ambani's Reliance Power in January 2008.

The country is short of approximately 60 million tonnes of coal as rise in demand outpaces growth in domestic production. While production by CIL — which accounts for nearly 80-90 % of supplies — is rising at 7%, demand is increasing by about 10%.

We expect secondary markets to stay lacklustre due to the IPO as investors might withdraw from Dalal Street to apply for this IPO.

Stock specific action

Stock specific action is seen on the street today. Markets got the stick in the last two trading sessions as investors pulled out for the IPO. We expect markets to remain subdued but with volatility.

All eyes on Infosys Q2 results today, stock looking expensive

Infosys shares hit a all-time high yesterday on expectations of robust second quarter earnings, to be announced pre-market today. Analyst expectations are pegged at around 9 pct jump in sales growth and EBIDTA growth of 33 pct QoQ.

Wall Street closed flat after a slide during the noon session. After hours tech giant Google's shares soared 10 pct on excellent quarterly results. Banks got the stick though.

Asia trades in the red

Bank stocks lead Japan lower Friday morning while other Asian markets too are trading in the red.

Infosys might disappoint

While the street is looking forward to guidance, we believe FY12 growth is already priced in the stock. Currency jitters might make the outlook less exciting and attention will be on growing attrition. Yesterday's numbers from Axis Bank were stunning but the stock has run up a lot ahead of the numbers.

Results Today

Following companies will declare Q2 numbers today.

DCB, Karnataka Bank, Manappuram, Venus Remedies, Infosys Technologies

Expect another rocky session today

All indicators are pointing to a gap down open, marginally though. We expect a volatile session and might end the day flat. Infosys might decide the short term direction but we re-iterate that gone are those days when Indian markets used to completely rely on one company (be it Infy or Reliance) before judging the economic growth. Markets are getting matured and for good.

Dalal Street ready to play 'touch and go' with new highs

Wall Street closed Wednesday in green after positive numbers from biggies JP Morgan and Intel boosted investor spirits. But actual action started after-hours after WSJ reported that AOL might be planning to take over Yahoo Inc.

AOL is in talks with firms including Silver Lake Partners and Blackstone Group LP, about a possibile offer, the report said citing unnamed sources.

Asia spikes up

The buyout rumour along with strength in gold and oil prices, Nikkei shot up 1.82 pct while rest of the Asian markets are trading in the green.

New highs this week ?

It is a tough one to answer with two more trading sessions to go. The new highs are at a stone throw distance and it is highly likely we might see new highs before Coal India IPO itself. But for today chances are more of a flattish to ranged trade after a gap up open. We see broad based participation from now on.Stay invested though the road gets little bumpy when we traverse past the old highs

Coal India's IPO band set at Rs 225-245, Issue opens on 18th October

US Stocks recovered from early losses after Federal Reserve commented that quantitative easing may be needed for a longer period than anticipated.

Asia starts the day stronger

Nikkei climbed Wednesday morning as a surprise jump in the Japan's August core machinery orders provided a lift to technology and auto shares. Else where in the region Korea's Kospi and Austrailian markets are trading decently up.

Coal India IPO

Stage has been set for the blockbuster IPO of the year. Price band for Coal India IPO was set at Rs 225-245 price band which will help it raise as much as Rs 15,200 crore, surpassing the Rs 11,600-crore record set by Reliance Power in 2008. Coal India staff and retail investors will get a 5% discount to the final price.

At the top end of the band, Coal India would be trading at 12 times the forward-year earnings forecast. Coal India would be the world’s biggest listed coal producer.

Pricing of the IPO will lure both domestic, retail and foreign investors to the Issue. But the impact might be felt on the secondary market.

IIP data overhang, Coal India IPO and Infy to dictate terms

While IIP data overhang still exists, Infosys numbers on Friday might dictate short term movement in the market. No doubt Coal India IPO will take the sheen out of secondary market as investors might sell their holdings to subscribe for the IPO. We see a subdued movement for the next 1-2 weeks with a negative bias. For today market is expected to trade in the green, marginally though.

Stick to quality midcap and smallcap stocks.

All eyes on Industrial Production data

Dalal Street will see another subdued opening on Tuesday morning with flattish global cues hitting the shores of Mumbai. Wall Street closed the day flat with no economic news flow, while Asian markets are trading in the red marginally.

Good news to emerging markets

Japan's public pension fund plans to include emerging-market stocks next summer, in a bid to increase returns, according to a report published Tuesday. That is music to the ears of emerging markets which are already attracting massive fund flows.

IIP Data - Cynosure of traders and investors

Industrial output data for the month of August will be released Tuesday, and the headline number is expected to slow to a single-digit growth rate, hurt by an expected slowdown in capital-goods output that had reached unsustainably high levels in the month prior. After showing a robust growth of 13.8 percent in July, we expect industrial production for August to come around 10 percent.

Nifty might not be able to crack 6200 levels and midcaps will extend the run along with smallcap stocks

Positive start to the week

After two trading sessions full of volatility and confusion, Investors are likely to return to Dalal Street which is all set to make a positive start on account of global cues.

Wall Street closed in the green on Friday with Dow Jones crossing the much awaited 11,000 levels.

RBI warns of intevention

Foreign institutional investors (FIIs) have pumped a record $21.3 billion into Indian equities so far this year, helping push the rupee to a 25-month high last week.

“If the inflows are lumpy and volatile or if they disrupt the macroeconomic situation, we will do so,” RBI governor said of intervention.

We expect RBI intervention at a later stage and for now do not see any issue with the inflows.

Fortis Healthcare - Hongkong acquisition

Fortis Global Healthcare Holdings Pte., controlled by billionaires Malvinder Mohan Singh and Shivinder Mohan Singh, agreed to buy units of Hong Kong-based Quality HealthCare Asia Ltd. for HK$1.5 billion ($193 million).

The purchase will give Fortis Global a network of more than 60 medical centers, at least 500 affiliated clinics and more than 40 dental and physiotherapy centers, the closely held company said in an e-mailed statement today.

Market today

We expect the market to show positive momentum but do not expect miracles. Also focus on midcap and smallcap stocks instead of index stocks. Many of our stocks are ripe for an upmove especially our Paid Technical Check picks.

Calm after the storm

Market open 15 min delay from 18 October

Indian equities are most likely to see a soft opening on Friday morning, after getting smashed in the final hour of trade yesterday. Wall Street closed flat on Thursday, nervous ahead of September jobs report on Friday. World's largest Aluminium manufacturere Alcoa (AA) beats expectations though Q3 net slipped 21 pct. Watch for hindalco in today's trade.

Japan approves stimulus worth 5.05 trillion yen

Japan's cabinet Friday approved compilation of an extra budget of 5.05 trillion yen ($61.3 billion) to stimulate the economy, larger than the 4.8 trillion yen initially planned. The government says the measures will add 0.6 percentage point to gross domestic product growth.

Nikkei is currently trading down 34 points or 0.35 percent.

Dalal Street - Jittery moves ahead?

Markets sold off in the final hour of trade yesterday. We believe the selling is a result of overheating in the market and there are no indications of any slowdown in the foreign inflows. But we expect the inflows to slow in the coming weeks resulting in choppy markets. Mutual funds might pull the plug after January 2011. We might be in for a feast in the next 6 months but sharp sell-offs are part of the game. Traders are advised to discount the volatility.

Flattish cues flirt with Dalal Street

A quiet day awaits Indian Equities when they open for trade on Thursday morning, thanks to flattish global cues. Wall Street closed mixed, near to the touchline despite of weak jobless data. We expect the benchmark index or the Sensex to move sideways and stay range bound for most of the day. Most of the action will be stock specific and story based.

Asia trading flat

Taking a leaf out of Wall Street's close on Wednesday, Asian stocks started the day in a flattish manner. Japan and Australia is trading near the previous days close. We do not expect major movements for the rest of the day in the global equity markets unless there is some substantial news flow.

Career Point - Where is the stock pointing to ?

New listing kept investors busy on Wednesday with Career Point and EROS Enetertainment making their debut on Dalal Street.Career point which raised 115 crore selling 35.5 lakh shares at Rs 310 has more than doubled in value on the first day to finish at Rs 632 and we think that it is a good idea to take profits at Rs 650 levels.

Noted buyers in the counter yesterday include HDFC and Reliance Mutual funds. We advise invetors to book profits in today's upmove for the short term.

Will Nifty break 6200 ?

That might be a tough one atleast for the first half of the trade today. But Nifty to continue the steam should confidently break the 6200 level which is becoming a tough nut to crack.

Realty and Metal space looks hot from a sectoral stand point while Healthcare and Banking are currently flat for the time being. The midcap space is likley to be in demand today and stocks like JM Financials, NOCIl Ltd, SREI Infra, Shipping Corp and Binani Cement might look to extend their gains from yesterday.

Bulls climb 'Wall' Street, looking towards Dalal Street

Wall Street soared to a five month high on Tuesday after Japan's surprise move to lower interest rates and inject cash into the economy raised hopes for similar move by US authorities.

Other key data indicator - The Institute for Supply Management (ISM) reported its service-sector index increased last month to 53.2 from 51.5 in August.

Japanese Stocks jump

Bank stocks lead the bull charge in Japan after the regulator surprised with a rate cut. Australia too is trading comfortably higher, up nearly 1.5 pct

Dalal Street to gap up

With positive global cues, Dalal Street will gap up but sustaining at higher levels is still a question. After ADAG we mgiht see Jaiprakash or Tata group stocks spike up, if not today in the next couple of trading sessions.

Other global markets performing well might not augur for Indian markets as flows might hold on. It is very important to monitor global markets and commodities. Copper is at 26 month high while Gold is trading at life time high. Crude Oil is looking up.This is one of those strange situation where all asset classes are attracting interest. We know where this will lead to...

Careerpoint and Eros will be listing on the street today

Red blanket covers Asian markets

Indian stocks are likely to gap down marginally on Tuesday morning when they open for trade on account of negative global cues.

WallStreet closed lower on Monday as traders' confidence remained shaky ahead of key employment data and corporate earnings later this week and as two key stocks took a hard beating.

Asia in red

Japanese markets are trading down nearly half percent due to uncertainty ahead of a Bank of Japan decision on interest rates. Australia too is trading down more than one percent. The Reserve Bank of Australia was slated to announce its policy decision later in the day, with economists split over whether it will hike its policy interest rate.

Dalal Street - Sluggish morning session

Sluggish trade with bearish bias is expected atleast in the first couple of hours of trade. Not a bad idea to pick up stocks for short term trading. As expected broking, Realty, Cap Goods and metal counters are driving while surprisingly few bank counters moved up. DCB witnessed fund buying from Blackstone Asia (picked 11 lakh shares at Rs 58.88)

Watch out for stocks like JMC Projects, Sadhbav Engineering today and tomorrow. While pullback is not ruled out from lower levels, midcap and smallcap stocks might shine today

Rajini, Commonwealth Games steal the show

While Robot mania swept South India, Commonwealth Games kicked off in style on Sunday evening much to the relief of Indian government. Global equities are trading marginally in the positive with wall street closing up on Friday. Dow closed up 45 points while Nasdaq gained 2 points.

Asia mixed on Monday morning

Nikkei slipped into red after financial services stocks suffered steep declines. Korean Kospi index is up 0.3 pct

SUN TV - Rakes in a big moolah

Sun Pictures, the subsidary of Sun TV has tasted tremendous success over the weekend after the most costliest Indian film Robo was declared an allround hit. Reports say SUN TV is likely to recover the cost of the film in the first week itself. We believe Sun TV stock is in for a ride and we expected the same in our recent analysis.

Dalal Street - The show continues

Bull show on Dalal Street is likely to extend this week too. While there will be volatile sessions and intermediate cool-offs, we at DStreet believe the flows will only continue resulting in some more upside. Five IPOs will be listing this week end.

Tata Steel on Sunday increased prices of its products by up to Rs 1,500 per tonne, mainly on account of rising demand.

Year to date, the BSE Capital Goods Index is up 70%, the BSE Bankex is up 42%, the BSE FMCG Index is up nearly 33%, and the BSE Auto Index is up over 31%, while the benchmark Sensex has risen only 17% in the same period.

Sectorally Realty is the best bet followed by Capital goods, Metals and Fertilizer stocks

Stocks : A Positive Start to October

Dalal Street is all set to open in the green, a day after Ayodhya verdict and F&O expiry.

US Economy expanding

The United States economy grew only slightly in the second quarter, the Department of Commerce said yesterday, confirming that the pace of the economic recovery had slowed.

Gross domestic product (G.D.P) rose at an annual rate of 1.7 per cent in the quarter, marking a sharp decline from the first quarter, when growth hit 3.7 per cent.

Wall Street failed to capitalize of better than expected jobless numbers and GDP, only to close in the red.

Asian Markets

China's official purchasing mangers' index (PMI) jumped to 53.8 in September from 51.7 the previous month, giving a boost to Asian markets. Nikkei is currently trading up half percent

Dalal Street - Positive Start

Ayodhya verdict as expected had no impact thanks to a booming economy. We expect Dalal Street to greet the peaceful situation with a positive start and most likely a positive end. Investors are advised to look for sector rotation. BHEL is threatening for a breakout among largecaps.

If a financial newspaper's starts are believed to be correct, 35 pct of the FII's are yet to comply with SEBI's new regulation which comes into force today. There were reports that few FII's might leave the country due to the regulation which we believe is impossible, given the "Hot Indian" brand among global investment community.