Home / NEWS / Equity Report Outlook|24 carat financial services | 2 September 2017

Equity Report Outlook|24 carat financial services | 2 September 2017

Equity tips:-

Nifty settles near 10K; Sensex ends up by 161 points

  • Nifty closed at 9,974 level, up by 56 points while Sensex closed at 31,892 level, up by 161 points on Friday. There were 1,071 advances, 574 declines and 321 unchanged stocks on NSE, reflecting strong positive sentiments floating in the market. India VIX ended at 11.76 level, down by 1.58%. 
  • Nifty Pharma index ended at 9,071 level, up by 212 points or 2.39% outperforming the major and broader indices in the market. Dr Reddy’s Lab was the top gainer in the index ending with gains of 9.46% at Rs 2,212 per share, while Divi’s Lab closed up by 2.02%.
  • On the broader markets, BSE Mid-cap index closed at 15,679 level, up by 0.9%. BSE Small-cap index closed at 16,117 level, down by 0.78%
  • Bank Nifty closed in the positive territory, up by 115 points or 0.48%. IDFC Bank was the top gainer on the index closing at Rs 57.1 per share, up by 4.1%.  
  • Auto stocks were buzzing on the bourses after reporting their August 2017 sales data. Nifty Auto ended at 10,823 level, up by 1.99%. Ashok Leyland was top gainer in the index closed at Rs 113 per share, up by 5.51%.

Market Snap:-

 

Sector Watch:-

Index View:-

NIFTY:-

  • Nifty September Series strated above a immidiet Resistance of level 9935. Niy is looking bullish on long-term charts as daily chart shows strong up trend. In short term Niy is in consolidaon phase. In today’s trading session Niy traded with posive movement and closed with overall gain of 0.57%. Niy is trading above its 21 day and 50 day moving averages on daily chart. Niy is also forming ascending triangle paern. In upcoming trading sessions up side movement can be seen in it and it can test up side levels of 9970 & 10000 if it Breaks its next resistance level of 9940 while down side 9870 will act as a good support level.

  • Bank Nifty September Series started below a strong Resistance at level 24318.40. Bank Nifty is looking bullish on long-term charts as daily and weekly chart shows strong up trend. In short term Bank Nifty is in consolidation phase. In today’s trading session Bank Nifty traded with positive movement and closed with overall gain of 0.48%. Bank Nifty is trading Above its 21 day and 50 day moving averages on daily chart. Bank Nifty is also forming Classical Ascending Triangle pattern . In upcoming trading sessions up side movement can be seen in it and it can test up side levels of 24550 & 25200 if it Breaks its next resistance level of 24480 while down side 23925 will act as a good support level.

Gainers/Losers

GAINERS – NSE :-

 Losers – NSE :-

 Buzzing Stocks :-

 Closing Bell:

 Gainers:- Dr.Reddy’s (+9%), Aurobindo (+4.5%) Asian Paints (+4%).

  Losers:- IOC (-1.5%), TCS, Power Grid (-1%).

Tata Motors Aug total sales at 48,988 units vs 43,105 units (+14%). Domestic sales at 45,906 units vs 36,510 units (+26%). Stock zooms 4%.

TVS Motor Aug total sales at 3.17 Lk units vs 2.74 Lk units (+16%).

SAAB ties up with Adani Group for fighter jet deal in India, as per media reports. Adani Ent (+3%) Adani Ports, Adani Transmission (+1%).

Sun TV stock jumps 10% on hopes of speedy digitisation, gains from IPL rights.

Dr Reddy’s Labs zooms 9.5% on settlement with US firm for anti-obesity drug Qsymia.

Cadila Healthcare gains 2% on USFDA approval for anti-dementia medicine.

Nifty Realty Index surges 3%. Indiabulls Real Estate (+5%), DLF, HDIL, Godrej Prop (+3%).

IRB Infrastructure stock rises 2% on sale of project to IRB InvIT Fund.

Nifty Metal Index up 2% on robust China factory data. NMDC (+5%), Nalco, JSPL (+4%), MOIL Hindustan Zinc (+3%).

Mangalam Seeds stock advances 4% on 1:1 bonus share issue.

Market News:-

  • SML Isuzu sales down by 50% in August–>

The share of SML Isuzu dropped by nearly 2% during Friday’s trading session on the back of weak sales report. The company sold around 541 vehicles in August FY18 against 1,082 vehicles sold in August FY17, reflecting a decline of 50% on Y-o-Y basis. The stock was trading down by 1.96% at Rs 950 per share on BSE at 1507 hours. It opened at Rs 980 per share. It touched its intraday high and low at Rs 988 and Rs 940 per share, respectively. The stock attracted total traded volume of 73,443 shares and traded value of Rs 708.77 lakh on NSE at 1510 hours. Its 52-week high stood at Rs 1,433.80 as on August 31, 2016 and 52-week low was at Rs 903 as on August 11, 2017. SML Isuzu Limited, formerly Swaraj Mazda Limited, is engaged in the business of manufacture of commercial vehicles and spares. The company produces light and medium commercial vehicles. It manufactures and supplies state buses, ambulances and customized vehicles.

  • Intellect Design bags e-commerce project from government–>

Intellect Design Arenaannounced that it has been awarded an e-commerce project by the government of India. The government e-marketplace, under the auspices of Department of Commerce, Ministry of Commerce and Industry has awarded the most ambitious, comprehensive and innovative government e-marketplace (GeM) – online e-commerce portal to a consortium led by Intellect Design Arena, said the company in a BSE filing on Friday. Intellect Design Arena was trading at Rs 113 per share, up by Rs 5.40 or 5.02% as at 1515 hours on Friday, on the BSE. The stock hit an intraday high and low of Rs 115 and Rs 106.90, respectively. It attracted a traded volume of 8,53,565 shares and traded value of Rs 961.37 lakh on the NSE. Intellect Design Arena is a comprehensive provider of digital technology solutions for mission critical banking, financial services, insurance retail, technologies for nation’s financial infrastructure.

  • Hubtown strikes one-time settlement with Bank of Maharashtra–>

 Hubtown informed that the company has entered into one-time settlement scheme (OTS) with Bank of Maharashtra for the loan account of the company as it had been classified as Non-Performing Asset by the bank. The company has made payment to the bank in terms of the OTS scheme and with this payment, no dues are now outstanding and payable to the bank, said Hubtown in a BSE filing on Friday. The stock of Hubtown was buzzing during Friday’s trade and was trading up by over 6% on the BSE. Hubtown was trading at Rs 124.55 per share, up by Rs 7.95 or 6.82% as at 1433 hours on Friday, on the BSE. The stock hit an intraday high and low of Rs 128.30 and Rs 116.85, respectively. It attracted a traded volume of 3,90,698 shares and traded value of Rs 485.44 lakh on the NSE. Hubtown Limited is a real estate company. The company is engaged in the business of execution and development of real estate projects and operates both on its own and through its subsidiaries/joint ventures.

  • Tata Motors total sales up 14% in August–>

Tata Motors passenger and commercial vehicles total sales (including exports) in August 2017 were at 48,988 vehicles, higher by 14% over 43,105 vehicles sold in August 2016, showed the data issued by the company in a BSE filing on Friday. The company’s domestic sales of commercial and passenger vehicles for August 2017 were at 45,906 units, higher by 26%, over 36,510 units in August 2016, due to growing demand across segments and increased positive customer sentiments. The overall commercial vehicles sales in August 2017, in the domestic market were at 31,566 units higher by 34% over August 2016.

 

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