Thursday, November 30, 2017

The Key equity benchmark indices settled a tad lower after a range bound trading session. The barometer index, the S&P BSE Sensex, fell 15.83 points or 0.05% to settle at 33,602.76. The Nifty 50 index fell 8.95 points or 0.09% to settle at 10,361.30. Most realty stocks gained.

Key benchmark indices nudged higher in early trade. Stocks hovered in positive zone in morning trade. Stocks extended gains in mid-morning trade. Key equity benchmarks firmed up in afternoon trade. Key equity benchmarks dipped in negative zone in mid-afternoon trade. Stocks hovered in negative zone in late trade.

The S&P BSE Mid-Cap index fell 0.17%. The fall in this index was higher than Sensex's decline in percentage terms. The S&P BSE Small-Cap index fell 0.01%. The fall in this index was lower than Sensex's decline in percentage terms.

The market breadth, indicating the overall health of the market, turned negative from positive in late trade. On the BSE, 1,370 shares declined and 1,337 shares rose. A total of 145 shares were unchanged.

#Though the S&P BSE Telecom index was up 0.49%, the shares of Reliance Communications Ltd fell 3.11% in the NSE to Rs.12.45. If you remember, even when the stock was near Rs.14 very recently, I had asked all to use this rise as an exit opportunity. 

#Coal India Ltd rose 0.66% on reports a foreign brokerage house has upgraded its ratings to outperform from neutral on the stock. The foreign brokerage house also reportedly hiked target price on Coal India stock to Rs 310 from earlier Rs 280. It expects domestic coal market to remain tight in near to medium term, while lower supply and strong global prices to help e-auction prices from third quarter. It feels that the supply tightness makes the risk-reward favourable. Wage hikes and grade slippage has factored in the first half of the current financial year (FY 2018), while low coal inventory is going to keep volumes elevated in the next financial year, it added. The brokerage house expects Coal India's earnings per share (EPS) to grow after five years and expecting 100% dividend payout in FY 2018.

Yesterday, my BUY call Subex Ltd rose to Rs.9.10 in the NSE with a huge volume of 12,952,531 shares, before closing at Rs.8.80, up more than 6%. The scrip is likely to give good returns going forward and investors are suggested to accumulate it on intraday declines. 

Meanwhile, both my recommended counters: Jai Balaji Industries Ltd (Rs.15.80) and Videocon Industries Ltd (Rs.14.75) hit their respective buyer freeze -- the former is basically rising on the steel sector turnaround, relief by NCLT and the government's sops for the scrap sector while the latter on its new restructuring plans. 

Yesterday, a short term momentum buy call was initiated in Hexaware Technologies Ltd on T+1 basis at around Rs.334-335, SL: Rs.328,  T: Rs.344. The company's Q2FY18 consolidated net profit rose 16.4% qoq beating street Estimates. Revenue for the quarter came in line with the estimated figure of Rs.989 crores. EBITDA for the quarter came in 7.2 % higher than the estimated figure of Rs. 161.6 crores. And lastly, net profit for the quarter came in 19.6% higher than the estimated figure of Rs.118.94 crore.

Future Enterprises Ltd tanked to Rs.54.15, closing near the days high yesterday. If you remember, I have been asking all to book  profits since the time the stock was finding difficulty to cross the resistance zone of Rs.56-57. In most stocks, there is a logic which we need to grasp to make money on a consistent basis.

I will be recommending a SUPER CALL on Next Monday or may be any time this week which is likely to give you at least 15% return -- so one or two such calls is likely to cover the (Premium) Subscription Charges. Those who want to get the name of the scrip, should either join my Premium Service or trade through my recommended brokerage house, i.e. BMA Wealth Creators Ltd, one of the largest brokerage houses from eastern India with a minimum portfolio size of Rs.1.5 lakhs (it has been increased from Rs.1 lakh). 
Also, if you have benefited from my blog writings and calls, you can also make a voluntary contribution, which will help me in maintaining this blog and giving you more and more FREE CALLS. You can make a team of 1000 (or may be more) people, collect small yearly contributions from everyone and send it to me.....without fuel how will I be able to run the engine, considering the time and the cost of high level stock research? We can try this for one year, and if the modus operandi is successful, we can go on repeating everyone.

Overseas, most European stocks were trading higher, helped by news of a Brexit deal between the European Union and the UK. As per reports, the UK and the EU have reached a deal on a Brexit divorce bill on Tuesday. The final total will reportedly be around 50 billion.

Asian stocks ended mixed as Chinese equities added to declines and a North Korean missile test overshadowed an overnight surge in US equities. US stocks rose to records on 28 November 2017 on progress towards passage of US tax cuts and a benign confirmation hearing with Federal Reserve Chair nominee Jerome Powell.

The Senate Budget Committee approved the Senate's tax plan on Tuesday, bringing the upper chamber closer to a floor vote, which is expected to take place Thursday. Meanwhile, during his testimony, Powell said that current regulations on the financials sector are tough enough. He also said he supported the tailoring of some regulations to ease the burden on small banks.

On the data front, the Conference Board's consumer-confidence index jumped to 129.5 in November, marking a 17-year high. The advanced US trade deficit in goods rose 6.5% to $68.3 billion in October. Separately, home prices rose at their fastest pace in more than three years in September.

In another development, Technology shares in the U.S. tumbled, while the S&P 500 Index ended the day flat, amid signs of a rotation away from the year’s leaders into financial stocks as tax legislation proceeded through the Senate. Treasuries dropped after Federal Reserve Chair Janet Yellen called economic growth “increasingly broad based.”

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