Wednesday, December 06, 2017

Market Pulse
Key benchmark indices were trading down in the afternoon trade. At 12:32 IST, the barometer index, the S&P BSE Sensex, was seen at 32,692.05 down 110.39 points (-0.34%). The Nifty 50 index was trading at 10,070.85 down 47.40 points.

Negative leads from Asian markets and overnight fall on the Wall Street spoiled investors sentiment. Cautiousness also prevailed ahead of the outcome of the Reserve Bank of India's monetary policy decision later today, 6 December 2017.

Key indices opened lower and pared losses in morning trade. After a brief recovery, selling pressure dragged the indices lower once again in morning trade.

Among secondary barometers, the BSE Mid-Cap index was up 0.06%. The BSE Small-Cap index was up 0.45%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, is positive. On BSE, 1,334 shares rose and 934 shares fell. A total of 115 shares were unchanged.

Suven Life Sciences gained 3.54% after the company announced the grant of one product patent from Eurasia and one product patent from Norway corresponding to the new chemical entities (NCEs) for the treatment of disorders associated with neurodegenerative diseases and these patents are valid through 2034 and 2026 respectively. The announcement was made during market hours today, 6 December 2017.

Plastiblends India tanked 7.39% after net profit fell 64.7% to Rs 2.80 crore on 11.2% growth in net sales to Rs 144.12 crore in Q2 September 2017 over Q2 September 2016. The result was announced after market hours yesterday, 5 December 2017.

On the macro front, the government yesterday, 5 December 2017, announced incentives worth a total Rs 8450 crore to boost exports and employment in labour-intensive sectors in the mid-term review of the five-year foreign trade policy (FTP) that was rolled out in 2015.

Export incentives under Merchandise Exports from India (MEIS) have been increased by 2% across the board for labour intensive MSME sectors leading to additional annual incentive of Rs 4567 crore. This is in addition to the already announced increase in MEIS incentives from 2% to 4% for ready-made garments and made ups in the labour intensive textiles sector with an additional annual incentive of Rs 2743 crore.

Further, incentives under Services Exports from India Scheme (SEIS) have also been increases by 2% leading to additional annual incentive of Rs 1140 crore. The FTP will continue to be reviewed and evaluated regularly for addressing concerns of the exporters, simplification of procedures and for promotion of exports, an official statement said.

Overseas, Asian shares were trading lower, mirroring losses on the Wall Street. US stock ended lower Tuesday, driven by losses in utilities, telecoms and industrials sectors. The S&P 500 index fell 0.37%. The Nasdaq Composite ended 0.19% lower. The Dow Jones Industrial Average ended 0.45% lower.

#Today's also, Jai Balaji Industries Ltd (Rs.20.05) and Videocon Industries Ltd (Rs.18.55) hit their respective buyer freezes. The outlook of both the companies have improved during the last few weeks. Book Profits in Jai Balaji Industries Ltd

#Investors can start accumulating the shares of SKM Egg  Products Ltd at around Rs.88 for a short term target of around Rs.111-117.  The scrip looks attractive at the CMP of Rs.88.10. 
SKM is an integrated quality manufacturer and supplier of egg products in the international market. SKM egg products is certified for ISO22000, BRC, and HALAL to make quality egg products. The state of the art quality assurance laboratory equipped with sophisticated instruments is ISO 17025 accredited. SKM has the capability to formulate and develop various kinds of egg based mixes for bakeries and mayonnaise applications. The quality and safety of the raw material is ensured with the backward integration of own layer farm and feed mill. Its products have earned the confidence of valued customers in Europe, Japan and Asia. 
The prices of eggs, its key raw material have eased during the last few days which is positive and upcoming Christmas and New Year celebrations is likely to boost the demand of company's products across the world. Ignore this call....exit if the scrip breaks Rs.87.

#Morning call to my BMA Wealth Creators Ltd's cliens: Buy P C Jewellers Ltd at around Rs.396, SL below Rs.385, T: Rs.415-422 on T+2 basis is doing fine.

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