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Market Outlook

Date 21.04.2017

Extending losses for second consecutive week, benchmark indices settled marginally lower in a volatile session as investors stayed cautious in the earnings season. Nifty50 slipped below 9,100, dragged by index heavyweights like Sun Pharma and ITC. However, RIL and HDFC Bank supported the market. The quarter results till date has painted a mixed picture while concern over upcoming French election is adding risk to the market. A hawkish tone of RBI in its latest minutes has also added pressure on the downside. The Sensex ended down 57 points at 29,365 and the Nifty ended down 17 points at 9119.

Asian stocks were set to end the week on a positive note, unscathed by a US trade probe on Chinese steel exports, while the euro remained on edge ahead of Sunday's first round in a tight French presidential election after a shooting overnight in Paris that was claimed by  Islamic State. Japan's Nikkei advanced 0.8%, on track for a weekly gain of 1.4%. Chinese shares in Shanghai added 0.1%, set for a 2.2% weekly drop, their worst since mid-December. Hong Kong stocks were little changed, heading for a 0.8% loss for the week.

European shares advanced in early deals on Friday, though France's benchmark CAC 40 declined slightly ahead of the first round of voting in the French presidential election. The pan-European STOXX 600 index was up 0.1%, on track to mark its third session of straight gains, while France's CAC fell 0.4%.

MSCI's broadest index of Asia-Pacific shares outside Japan added 0.5% on Friday, taking its cue from Wall Street's solid performance overnight on expectations of strong first-quarter earnings growth. It is still poised for a 0.4% weekly loss.

 

N I F T Y Index Futurses     21.04.2017 
Last quoted 9130.50
Prevailing Trend Neutral Trend Change Level (21.04.2017)
Initiated Age Bullish Neutral Bearish
9130 1 - - -
 
Notes:
 

NIFTY TRADING REPORT  

 

Currently we are neutral in Nifty. 

Please check with the trading desk before initiationg and fresh position.

 

We will initiate fresh log in Nifty at 7550 with 55 points stop loss. Currently we are neutral in Nifty. 

Latest Cash Market List

ACTION DATE SCRIP ENTRY PRICE (INR) Stop Loss TIME FRAME TARGET PRICE1 (INR) TARGET PRICE2 (INR) Target Hit

Notes:

20-04-2017

Tata Steel is scheduled to announce Q4 March 2017 results today, 20 April 2017.

Among other companies, CRISIL, Cyient, Hindustan Zinc, Mastek and MindTree will announce their results for the quarter ended March 2017 today, 20 April 2017.

Yes Bank's net profit rose 30.2% to Rs 914.10 crore on 29.44% rise in total income to Rs 5606.38 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours yesterday, 19 April 2017.

The bank's gross non-performing assets (NPAs) rose to Rs 2018.56 crore as on 31 March 2017 as against Rs 1005.85 crore as on 30 December 2016 and Rs 748.98 crore as on 31 March 2016.

The ratio of gross NPAs to gross advances rose to 1.52% as on 31 March 2017 as against 0.85% as on 31 December 2016 and 0.76% as on 31 March 2016. The ratio of net NPAs to net advances stood at 0.81% as on 31 March 2017 as against 0.29% as on 31 December 2016 and 0.29% as on 31 March 2016.

The bank's provisions and contingencies (excluding tax provisions) rose 66.11% to Rs 309.73 crore in Q4 March 2017 over Q4 March 2016.

The board of directors of the bank recommended the payment of final dividend Rs 12 per share for the year ended 31 March 2017 (FY 2017).

The board has also approved raising of funds by way of issuance of debt securities including but not limited to non-convertible debentures, MTN (medium term notes), bonds upto Rs 20000 crore (in Rupee or foreign currency) by the bank to eligible investors on private placement.

NTPC said that its board of directors accorded approval for updating and upsizing the $4 billion medium term notes (MTN) programme upto $6 billion for raising debt from international markets to part finance the capital expenditure on new/ongoing projects, coal mining projects, renovation and modernization of power stations and for other permissible end uses.

The board of directors has approved the proposal to issue Notes up to Rs 5000 crore (Rupee denominated bonds) and/or upto $750 million equivalent (foreign currency bonds other than Rupee denominated) in the international markets either under the MTN programme or on standalone basis, in one or more tranches on the terms and conditions as may be agreed with the prospective investor(s) to finance the capital expenditure of new/ongoing projects, coal mining projects, renovation and modernization of power stations and/or for such other purposes as permissible under the ECB guidelines of the RBI. The announcement was made after market hours yesterday, 19 April 2017.

Jaypee Infratech issued clarification to the stock exchanges with regard to media news titled YEIDA asks Jaypee to pay Rs 90 crore by April 15. The company said the news item does not belong to the company nor have it received any notice from the Yamuna Expressway Industrial Development Authority (YEIDA) for any such payment.

The project belongs to its holding company, Jaiprakash Associates (JAL), Jaypee Infratech said. Further, Jaypee Infratech said it is in the process of taking up the matter with the YEIDA. The company added that it is making its sincere efforts to complete and deliver the projects to the buyers and is in touch with them. Necessary funds required for the working capital have already been tied up with banks and the work on various projects will commence soon, Jaypee Infratech said in a filing to the BSE. The announcement was made after market hours yesterday, 19 April 2017.

GRP said has signed a manufacturing and supply agreement with a USA based company. The agreement is for exclusive manufacture, process and supply of composite products. The manufacturing facility will be set up at one of the existing GRP plants in Maharashtra and is expected to commence before end of this fiscal year. Investment in the equipment for the venture is estimated at Rs 2.20 crore. The announcement was made after market hours yesterday, 19 April 2017.

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