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.