Professional Documents
Culture Documents
Market Outlook 28th September 2011
Market Outlook 28th September 2011
India Research
September 28, 2011
Dealers Diary
The market opened on a firm note tracing a rally in Asian stocks stocks, triggered by reports that European policy makers are considering new plans to support European countries struggling with debt. This bolstered the otherwise weak sentiment that circled the markets for a while. In addition, reports about the Finance Ministrys consideration over some tax cuts on equities to lower transaction costs and broaden participation in the market boosted the sentiment. The market breadth remained strong and increased buying was witnessed in infrastructure, auto and metal stocks, which had witnessed steep slides. The indices held their firm ground and continued their gradual ascend in the afternoon session. The market closed on a strong note with the Sensex and the Nifty gaining 3.0% and 2.8%, respectively. The mid-cap and small-cap indices also gained 1.6% and 1.4%, respectively. Among the front runners, DLF, JP Associates, Tata Motors, RIL and Hindalco gained 4-8%. There were no majors losers in the Sensex. Among mid caps, Hathway Cable, Dewan Housing, Sun Pharma Advanced Research Com., Rajesh Exports and Hexaware Technologies gained 7-17%, while Shree Global Tradefin, Pipav Shipyard, Jyothy Labs, Kirloskar Oil Engines and Manappuram Finance lost 2-10%.
Domestic Indices BSE Sensex Nifty MID CAP SMALL CAP BSE HC BSE PSU BANKEX AUTO METAL OIL & GAS BSE IT Global Indices Dow Jones NASDAQ FTSE Nikkei Hang Seng Straits Times Shanghai Com
Chg (%) 3.0 2.8 1.6 1.4 0.7 2.1 2.7 2.7 2.6 3.5 3.6 Chg (%) 1.3 1.2 4.0 2.8 4.2 2.7 0.9
(Pts) 135.9 98.4 93.9 37.9 156.5 225.4 282.4 178.1 (Pts) 30.1 204.7 235.8 71.6 21.9
(Close) 4,971 6,230 7,017 5,885 7,509 8,553 8,417 5,184 (Close) 2,547 5,294 8,610 2,726 2,415
472.9 16,524
146.8 11,191
Markets Today
The trend deciding level for the day is 16,453/4,953 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 16,623 16,722/5,001 5,031 levels. However, if NIFTY trades below 16,453/4,953 levels for the first half-an-hour of trade then it may correct up to 16,354 16,184/4,923 4,875 levels.
Indices SENSEX NIFTY S2 16,184 4,875 S1 16,354 4,923 R1 16,623 5,001 R2 16,722 5,031
722.8 18,131
Indian ADRs Infosys Wipro ICICI Bank HDFC Bank Advances / Declines Advances Declines Unchanged
News Analysis
Dabur Enters Sri Lanka; Sets up new beverage venture Areva T&D secures orders worth `40cr
Refer detailed news analysis on the following page
Net Inflows (September 26, 2011) ` cr Purch Sales FII MFs 1,250 457 2,257 420
Net (1,007) 37
FII Derivatives (September 27, 2011) ` cr Index Futures Stock Futures Gainers / Losers Gainers Company DLF Jaiprakash Asso Tata Motors IVRCL LTD IFCI Price (`) 217 73 156 38 32 chg (%) 8.5 5.9 5.9 5.5 5.2 Company Pipavav Shipyard Sun TV Manappuram Fin. JSW Steel Glaxo. Consumer Losers Price (`) 78 276 52 611 2,290 chg (%) (4.4) (2.8) (2.1) (1.3) (0.8) Purch 7,437 6,573 Sales 6,181 6,140 Net 1,256 433 Open Interest 17,355 30,573
Corporate News
JSW Steel to shut plant if iron ore supply does not improve Reliance Communications in advanced talks to sell tower unit stake Glenmark Pharmas US arm gets US FDA nod for migraine tablets GMR Infra bags `7,200cr highway project
Source: Economic Times, Business Standard, Business Line, Financial Express, Mint
E-mail: research@angelbroking.com
Website: www.angelbroking.com
DISCLAIMER
This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment decision. Nothing in this document should be construed as investment or financial advice. Each recipient of this document should make such investigations as they deem necessary to arrive at an independent evaluation of an investment in the securities of the companies referred to in this document (including the merits and risks involved), and should consult their own advisors to determine the merits and risks of such an investment. Angel Broking Limited, its affiliates, directors, its proprietary trading and investment businesses may, from time to time, make investment decisions that are inconsistent with or contradictory to the recommendations expressed herein. The views contained in this document are those of the analyst, and the company may or may not subscribe to all the views expressed within. Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and trading volume, as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's fundamentals. The information in this document has been printed on the basis of publicly available information, internal data and other reliable sources believed to be true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this document is for general guidance only. Angel Broking Limited or any of its affiliates/ group companies shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report. Angel Broking Limited has not independently verified all the information contained within this document. Accordingly, we cannot testify, nor make any representation or warranty, express or implied, to the accuracy, contents or data contained within this document. While Angel Broking Limited endeavours to update on a reasonable basis the information discussed in this material, there may be regulatory, compliance, or other reasons that prevent us from doing so. This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced, redistributed or passed on, directly or indirectly. Angel Broking Limited and its affiliates may seek to provide or have engaged in providing corporate finance, investment banking or other advisory services in a merger or specific transaction to the companies referred to in this report, as on the date of this report or in the past. Neither Angel Broking Limited, nor its directors, employees or affiliates shall be liable for any loss or damage that may arise from or in connection with the use of this information. Note: Please refer to the important Stock Holding Disclosure' report on the Angel website (Research Section). Also, please refer to the latest update on respective stocks for the disclosure status in respect of those stocks. Angel Broking Limited and its affiliates may have investment positions in the stocks recommended in this report.
Ratings (Returns):
Address: 6th Floor, Ackruti Star, Central Road, MIDC, Andheri (E), Mumbai - 400 093. Tel: (022) 3935 7800
Angel Broking Ltd: BSE Sebi Regn No : INB 010996539 / CDSL Regn No: IN - DP - CDSL - 234 - 2004 / PMS Regn Code: PM/INP000001546 Angel Capital & Debt Market Ltd: INB 231279838 / NSE FNO: INF 231279838 / NSE Member code -12798 Angel Commodities Broking (P) Ltd: MCX Member ID: 12685 / FMC Regn No: MCX / TCM / CORP / 0037 NCDEX : Member ID 00220 / FMC Regn No: NCDEX / TCM / CORP / 0302