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
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Thursday, October 21, 2010
Wednesday, October 20, 2010
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.
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.
Tuesday, October 19, 2010
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
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
Monday, October 18, 2010
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.
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.
Friday, October 15, 2010
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.
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.
Thursday, October 14, 2010
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
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
Wednesday, October 13, 2010
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.
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.
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