International Markets:

U.S & Europe

Particulars 13th   Jan Chg Chg(%)
Nasdaq 9273.93 95.07 1.04
Dow* 28907.05 83.28 0.29
FTSE 7617.60 29.75 0.39
CAC 6036.14 -0.97 -0.02
DAX 13451.52 -31.79 -0.24
Dow Fut.* 28904.50 33.50 0.12

*As per 14th Jan

Asian markets:

Particulars 14th   Jan. Chg Chg(%)
SGX Nifty* 12382.00 24.50 0.20
Nikkei 24022.09 171.52 0.72
Straits Times 3259.86 8.79 0.27
Hang Seng 28952.85 -2.09 -0.01
Shanghai 3125.87 10.30 0.33

 

ADR Watch:

Particulars 13th Jan. Chg Chg(%)
Dr Reddy 41.61 0.55 1.34
HDFC Bank 62.85 0.95 1.53
ICICI Bank 15.08 0.04 0.27
Infosys 10.88 0.23 2.16
Tata Motor 13.72 0.11 0.81
Wipro 3.92 0.05 1.29

 

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 70.8550 -0.12
Brent 64.40 0.31
Gold 1538.85 -0.76
Silver 17.788 -1.16

 

FIIs & DIIs

Particulars 13th  Jan. 10th  Jan.
FIIs 68.24 578.28
DIIs 47.17 -431.11

 

View on market: Buy on dips

Asian stocks followed their U.S. counterparts higher Tuesday on optimism over this week’s signing of the Sino-American trade deal. Stocks rose in Japan, South Korea and Australia, while U.S. futures ticked higher. The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, rose 0.20 percent to 12,382 as of 7:50 a.m.

Key Data/ Action,Result and Board meeting to watch:

Wipro, IndusInd Bank, Bandhan Bank, MindTree, Network18 Media & Investments, TV18 Broadcast, Tata Steel Bsl, Shiva Cement.

 

Positive global sentiment, expectations of stimulus from Budget and hopes of better Q3FY20 earnings continued supporting market sentiment as  benchmark indices Sensex and Nifty settled at record highs on January 13. After market hours, government released inflation data with retail inflation rate in December jumping to 7.35 percent, surpassing the RBI’s comfort level.
Fund View:

Motherson Sumi HSBC Downgraded to ‘Hold’ from ‘Buy’; hiked price target to Rs 135 from Rs 120. Stock outperformed the underlying performance improvement and broader market on EU uptick. Believe it now prices in some recovery but ignores the near-term risk. Risk arises from European market disruption on upcoming carbon dioxide norms.

Oil & Gas UBS Oil product demand growth slips in Dec-2019 as transportation fuel demand slows down. Gasoline and LPG demand growth moderated, while diesel demand declined. ATF possibly on the way to recovery, while lubes demand emerge stronger. OMCs to benefit as demand for gasoline and LPG remains strong.

ICICI Lombard General IIFL Maintained ‘Buy’ with a price target of Rs 1,500. Expect acceleration in YoY earnings growth from the third quarter. See higher loss in motor segment driven by greater pricing pressures. Fire and health to drive growth.

 

News Update:

JSW Steel: The National Company Law Appellate Tribunal has directed the Enforcement Directorate and Serious Fraud Investigation Office to verify if JSW Steel is protected from Bhushan Steel and Power Ltd.’s past criminal liabilities. It has also directed the agencies to file an affidavit to confirm whether JSW Steel would be covered under the newly added section 32A of the Insolvency Code and provide reasons if no such immunity is granted.

Linde India: Board approved sale of company’s Belloxy Divestment Business on a slump sale basis for Rs 54.9 crore to Inox Air Products.

NMDC completed the execution of mining lease agreements of four mines in Chhattisgarh. Mining lease of the aforementioned deposits is valid up to 2035.

Infosys partnered with GEFCO for digital solutions for a period of five years.

United Spirits: The Securities and Exchange Board of India has asked three individuals to disgorge wrongful gains from transactions in 2014, according to Bloomberg report.

Piramal Enterprises issued 1.16 lakh compulsorily converted debentures to Caisse De Depot Et Placement Du Quebec on Dec. 19, which has increased its total diluted shareholding from 3.68 percent to 8.99 percent. Debentures are convertible into equity shares in the ratio of 1:100.

IRCTC: Ministry of Railways gave approval to the company to operate Ahmedabad-Mumbai Central Tejas Express. Inaugural run on Jan. 17 and the commercial run starts from Jan. 19.

Manappuram Finance raised $300 million by allotment of fixed-rate senior secured notes.

Sadbhav Infra: Nippon India MF increased stake to 6.88 percent from 4.03 percent in the company.

Simplex Infra: Nippon India MF reduced stake to 6.88 percent from 5.37 percent in the company.

HUDCO planned to raise up to Rs 1,400 crore via debentures.

Syndicate Bank reduced Marginal Cost of Funds based Lending Rate across various tenors with effect from Jan. 15. One-month MCLR at 7.6 percent and one-year MCLR at 8.25 percent.

 


DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014

Elite Wealth Advisors Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Advisors Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as read more


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