International Markets:

U.S & Europe

Particulars 7th  Jan Chg Chg(%)
Nasdaq 9068.58 -2.89 -0.03
Dow* 28583.68 -119.70 -0.42
FTSE 7573.85 -1.49 -0.02
CAC 6012.35 -1.24 -0.02
DAX 13226.83 99.84 0.76
Dow Fut.* 28366.00 -160.00 -0.56

*As per 8th Jan

Asian markets:

Particulars 8th   Jan. Chg Chg(%)
SGX Nifty* 11955.00 -166.00 -1.37
Nikkei 23100.24 -475.48 -2.02
Straits Times 3204.13 -43.73 -1.35
Hang Seng 28012.35 -309.71 -1.09
Shanghai 3087.39 -17.41 -0.56

 

ADR Watch:  

Particulars 7th Jan. Chg Chg(%)
Dr Reddy 40.27 0.21 0.52
HDFC Bank 60.69 -0.22 -0.36
ICICI Bank 14.58 -0.14 -0.95
Infosys 10.10 -0.11 -1.08
Tata Motor 12.82 -0.21 -1.61
Wipro 3.85 0.00 0.00

 

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 71.845 0.00
Brent 69.69 2.08
Gold 1589.25 1.00
Silver 18.573 0.99

 

FIIs & DIIs

Particulars 7rd   Jan. 6th   Jan.
FIIs -682.23 -103.84
DIIs 311.19 -23.70

 

View on market: Buy on dips

 

U.S. stock futures slumped along with Asian equities and oil prices surged after Iran started an attack on military facilities in Iraq hosting American troops, escalating tensions in the Middle East. Futures on the S&P 500 Index dropped more than 1.5 percent. Japanese shares headed for the biggest slide since March, with equities also lower in Sydney and Seoul. The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, fell 1.27 percent to 11,967 as of 7:45 a.m.

 

Key Data/ Action and Board meeting to watch:

Tata Steel to meet Bank of America Merrill Lynch, Blackrock Investment Management and PIMCO from Jan. 9-10.

Minda Corp to meet Svan Investments, Investec Capital and other investors from Jan. 9-10.

 

Fund View:

IndusInd Bank BofAML Upgraded to ‘Buy’ from ‘Neutral’; hiked price target to Rs 2,000 from Rs 1,500. Investor concerns to be resolved in H1FY21. Macro and micro factors to turn tailwinds in 2020. Hike FY20-22 earnings estimate by 1-13 percent led by higher growth and net interest margins.

Eicher Motors Goldman Sachs Maintained ‘Buy’ with a price target of Rs 25,334. Royal Enfield widens range and features with BS-VI variants. Price hike is between 7-10 percent for BS-VI variants. Better positioned to navigate BS-VI transition.

India Steel HSBC Expect sharp recovery in December quarter shipments, led by SAIL and JSPL Expect realisations/tonne for December quarter to fall by 20 percent year-on-year, resulting in 35 percent fall in Ebitda More positive on long producers versus flat Tata Steel: Maintained ‘Hold’; hiked price target to Rs 440 from Rs 400. JSW Steel: Maintained ‘Reduce’ with a price target of Rs 200. SAIL: Upgraded to ‘Hold’ from ‘Reduce’; hiked price target to Rs 50 from Rs 30. JSPL: Maintained ‘Buy’; hiked price target to Rs 240 from Rs 180.

 

News Update:

Tata Steel said that its arm TS Alloys has received a letter of intent for grant of mining lease for 50 years for Saruabil Chromite mining block, from the Odisha Government.

Cadila Healthcare: Amgen won ruling to revive Sensipar patent against Amneal. Amgen case against Amneal sent back to the trial court, according to a Bloomberg report.

Navin Fluorine commenced production of company’s Current Good Manufacturing Practice capacity addition at Madhya Pradesh.

ZF Steering said that search and seizure operations have been completed.

NCL Industries Q3 Update: Cement Production down 23 percent to 4,23,199 million tonne. Cement dispatches down 22 percent to 4,30,861 MT.

NBCC secured business of Rs 1,090.53 crore in December.

Bosch said that it has received a strike notice from the respective Trade Unions at the company’s plants situated at Bidadi and Naganathapura, stating that they are participating in the All India General Strike called by Central Trade Union on Jan. 8.

HT Media’s arm HT Learning Centers to restructure its ‘Studymate’ and ‘Englishmate’ businesses. The arm will not accept new enrollment but will continue to honour existing commitments for the academic year 2019-2020.

Thomas Cook signed long term strategic agreement with Abu Dhabi’s trade and promotion arm.
Coal India output to be affected due to a strike on Jan. 8. (BN)

V2 Retail: Akash Agarwal resigned as the chief executive officer with effect from Jan. 2.

HDIL: First Committee of Creditors on Jan. 8.

Wadia Group Stocks: Go Air received notice from Directorate General of Civil Aviation on crew duty timings, according to Bloomberg report.

Goa Carbon Dec. Production up 77 percent to 11,112 MT.

Indian Overseas Bank has decreased Marginal Cost of Funds based Lending Rate by 25 basis points for overnight and one-month tenors with effect from Jan. 10. Overnight MCLR at 7.8 percent and one-month MCLR at 7.95 percent.

Bajaj Electricals: NCLT approved the scheme arrangement between Hind Lamps and the company.

 


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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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