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Market Outlook

Date 26.05.2017

Markets continued their bull run to settle at fresh closing highs on Friday with the S&P BSE Sensex scaling past the 31,000-mark and the broader Nifty50index hitting 9600-mark for the first time ever as higher derivatives rollover led to strong follow-up buying in index heavyweights on the first day of June series. Market touched another milestone supported by continued buying interest on index heavy weights post expiry. Expectation on good monsoon & a slow pace in interest rate hike by FED continue to weigh the sentiment. Mid & small caps outperformed as recent correction scaled down the valuation gap with large caps, this gave an entry point for those who missed the opportunity. The broader markets have recovered after days of sell-off and the positve sentiment has rubbed off on the friontline indices as well. Dovish stance of the US Federal Reserve in its last meeting as regards interest rates also aided sentiment.The Sensex ended up 278 points at 31,028 and the Nifty ended up 85 points at 9595.

Globally, Asian stocks fell, prompting a move away from riskier assets after an OPEC agreement to extend cuts in crude production for further nine months disappointed investors who had bet on bigger output cuts.

MSCI's broadest index of Asia-Pacific shares outside Japan, which closed at a two-year high on Thursday, fell 0.2%, shrinking its weekly gain to 1.45%. Japan's Nikkei closed 0.6% lower.

China's CSI 300 slid 0.2% heading for a 2.2% increase for the week. Hong Kong's Hang Seng was flat, on track for a weekly gain of 1.8%.

 

N I F T Y Index Futurses     26.05.2017 
Last quoted 9569.05
Prevailing Trend Bullish Trend Change Level (25.05.2017)
Initiated Age Bullish Neutral Bearish
9474 2 - 9535 -
 
Notes:
 

NIFTY TRADING REPORT  

 

We were long in NIFTY at 9474. Partial profit booked at 9530 & 9585. Long NIFTY stop loss is 9535.                 

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:

29-05-2017

ONGC's net profit fell 6.14% to Rs 4340.18 crore on 26.81% rise in total income to Rs 26233.56 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours on Friday, 26 May 2017.

ONGC's net profit rose 10.9% to Rs 17899.97 crore on 0.83% rise in total income to Rs 85455.85 crore in the year ended 31 March 2017 (FY 2017) over FY 2016.

On a consolidated basis, ONGC's net profit rose 63.94% to Rs 21478.34 crore on 5.57% rise in total income to Rs 152731.39 crore in FY 2017 over FY 2016.

In exploration segment, ONGC has achieved 35% rise in exploration performance in FY 2017 by making 23 discoveries, as against 17 discoveries in FY 2016. Of the 23 discoveries, 13 discoveries were made in onland (Nominaton-12, NELP-1) and 10 in offshore. (Nomination-7, NELP- 3). Out of 13 onland discoveries, 9 were monetized during the year itself having a potential of 0.218 MMTOE per year.

Sun Pharmaceuticals Industries' consolidated net profit fell 16.67% to Rs 1385.57 crore on 6.35% fall in total income to Rs 7361.46 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours on Friday, 26 May 2017.

Tech Mahindra's consolidated net profit dropped 30.2% to Rs 589.69 crore on 0.26% rise in total income to Rs 7732.89 crore in Q4 March 2017 over Q3 December 2016. The result was announced after market hours on Friday, 26 May 2017.

Mahanagar Gas' net profit rose 17.87% to Rs 99.47 crore on 2.57% rise in total income to Rs 538.28 crore in Q4 March 2017 over Q3 December 2016. The result was announced after market hours on Friday, 26 May 2017.

DLF reported consolidated net profit of Rs 142.66 crore in Q4 March 2017 as compared with net loss of Rs 211.11 crore in Q4 March 2016. Total income fell 4.66% to Rs 2605.44 crore in Q4 March 2017 over Q3 December 2016. The result was announced after market hours on Friday, 26 May 2017.

BPCL, Coal India, NTPC, L&T, Power Finance Corporation and Power Grid Corporation of India will announce their Q4 results today, 29 May 2017.

CG Power and Industrial Solutions said that the company has received an offer for acquisition of the company's power business in United States of America, comprised in its subsidiary, CG Power Systems USA Inc (PSUS). The announcement was made after market hours on Friday, 26 May 2017.

The board has at its meeting held on Friday, 26 May 2017 decided to divest the power business of PSUS for which the company and has constituted a committee to consider the offer and decide on the terms and conditions of acceptance of the offer and closure. The requisite shareholders approval is in place as part of the divestment of the overseas T&D business divestment. The board has mandated the committee to complete the process by 30 June 2017.

The proposed divestment is part of the company's stated strategy of geography / product-wise divestment with the objective of debt reduction and focusing on core operations and core market in India.

Latest Future Markets

ACTION DATE SCRIP ENTRY PRICE (INR) Stop Loss Targate Yes / No
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