Monday, March 26, 2018

Market Pulse
Key benchmark indices hovered with small losses in morning trade after a volatile start. At 10:18 IST, the barometer index, the S&P BSE Sensex, fell 30.97 points or 0.1% at 32,565.57. The Nifty 50 index dropped 23.85 points or 0.24% at 9,974.20. Market sentiment remained subdued amid fears of global trade war.

The S&P BSE Mid-Cap index fell 0.22%. The S&P BSE Small-Cap index dropped 0.27%. Both these indices underperformed the Sensex.

Overseas, Asian stocks edged lower amid fears that rising tensions between the United States and China could lead to a full-blown trade war. US stocks fell sharply on Friday, 23 March 2018 as investors assessed the possibility of a trade war brewing between the US and China.

Meanwhile, reports suggested that China and the US have quietly started negotiating to improve US access to Chinese markets, after a week filled with harsh words from both sides over Washington's threat to use tariffs to address trade imbalances.

Closer home, the breadth, indicating the overall health of the market, turned negative from positive. On the BSE, 1,298 shares declined and 809 shares advanced. A total of 118 shares were unchanged.

Telecom stocks were mixed. Reliance Communications (up 0.88%) and Idea Cellular (up 0.32%) advanced. Bharti Airtel (down 0.45%) and Mahanagar Telephone Nigam (down 0.26%) edged lower.

Cement stocks also witnessed a mixed trend. Shree Cement (up 0.91%), Ambuja Cements (up 0.51%) and ACC (up 0.17%) edged higher. Grasim Industries (down 2.13%) and UltraTech Cement (down 0.54%) edged lower.

Dr Reddy's Laboratories (DRL) was down 0.7%. The company announced that it has launched Palonosetron Hydrochloride Injection, 0.25 mg (base)/5 ml, a therapeutic equivalent generic version of Aloxi Injection approved by the US Food and Drug Administration (USFDA). The announcement was made during market hours today, 26 March 2018.

NHPC was down 0.19%. The company announced that it has fully commissioned a 50 megawatts solar power project in Theni/Dindigul District of Tamil Nadu on 23 March 2018. The announcement was made after market hours on Friday, 23 March 2018.

Lumax Auto Technologies gained 1.26% after the company's board of directors considered and approved a 5-for-1 stock-split of equity shares. The announcement was made after market hours on Friday, 23 March 2018.

Today's Calls:
#The risk taking traders can buy the shares of Reliance Infrastructure Ltd at around Rs.422, T: Rs.441, SL: Rs.415. The company has an order book of more than Rs.5000 crore and its share has a good value. It is strange why the stock is trading at such dismal levels. Also, after the completion of the deal of the sell of its power division, the company is likely to become debt free.

#Buy the shares of MCX Ltd at around Rs.681, T: Rs.797, SL: Rs.667. The other targets are Rs.939 and Rs.1129.

#Buy the shares of P C Jewelers Ltd at around Rs.321-322, T: Rs.341, SL: Rs.315. The ongoing marriage season is likely to boost up the share price of the P C Jewellers Ltd, apart from lowering of competition due to the demise of one of the most reputed brands like Gitanjali Gems Ltd. 

~~With inputs from Capital Market - Live News....
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