Indian MCX,Commodity Market Ups-Down Analysis and Conditions

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The market has opened on positive note Thursday as the Sensex is up 103.90 points at 25700.92, and the Nifty is up 25.05 points at 7873.90. About 487 shares have advanced, 129 shares declined, and 32 shares are unchanged. ICICI Bank, L&T, BHEL, Cipla Dr Reddy's Lab are the top gainers while HDFC Bank, HUL anf Infosys are the top losers.

Indian stock markets bucked global trend to trade higher on Thursday, buoyed by passage of Bankruptcy Bill in Parliament. The Sensex jumped over 200 points, while the Nifty inched closer to the 7,900 levels, after rising over 40 points. 

Laying the ground for energy independence

If we were to plot the “per barrel” going price of Brent Crude oil on a chart, it would by far unnerve even the most seasoned analyst. The crude prices have been falling rather steeply over the past two years, from a high of around $110 in April 2014, to hovering at around $30 in January 2016. It certainly isn’t the ideal picture. And just when you increase the timeline from two years to say a decade, another pattern emerges. The price of crude oil is cyclical Thus, even if one rejoices in the moment when the oil prices are the lowest that we’ve seen in a very long time,  it is not going to stay this way for long.

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Kotak Mahindra Bank Q4 net at Rs 695.8 cr, asset quality stable

Kotak Mahindra Bank has posted a standalone net profit at Rs 695.8 crore in January-March quarter from Rs 635 crore in last quarter. During the quarter, its standalone net interest income was at Rs 1857.2 crore against Rs 1766 crore in quarter-ago period. According to CNBC-TV18 poll, the private lender was expected to report standalone net profit at Rs 689 crore in January-March quarter and NII was seen at Rs 1832 crore. Year-on-year numbers are not comparable due to merger of ING Vysya Bank. Net interest margin (NIM) stood at 4.35 percent in Q4 compared to 4.3 percent quarter-on-quarter. Its gross non-performing assets (NPA) was at 2.36 percent versus 2.3 percent on a sequential basis. In Q4, NPA was at 1.06 percent versus 0.96 percent. In absolute terms, gross NPA stood at Rs 2838 crore against Rs 2690 crore was at Rs 1262 crore Versus Rs 1110 crore. Standalone provision was at Rs 200.4 crore in Q1 from Rs 235.25 crore quarter-on-quarter.

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The S&P BSE Sensex recovered most losses after plunging over 350 points in morning trade on Wednesday after the government announced amendments to its Double Tax Avoidance Convention with Mauritius.The fall in the index was led by losses in ITC, ICICI Bank, HDFC, Infosys, HDFC Bank. 

Indian shares fell on Wednesday on worries future foreign equity inflows would be hit after the country said it will start imposing capital gains taxes on investments coming from Mauritius starting next year.Mauritius is the top source of foreign funds into India, though analysts welcomed India's action to impose the tax on future investments and not existing holdings.The NSE index was down 0.8 percent at 0350 GMT after initially falling as much as 1.4 percent shortly after the open.

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The market seens to be quite with the Nifty hovering around 7850 mark. The 50-share index is down 7.40 points at 7858.65. The Sensex is down 7.45 points at 25681.41. About 946 shares have advanced, 711 shares declined, and 92 shares are unchanged. Dr Reddy's Labs, Tata Steel, HUL, Lupin and Axis Bank are top gainers while Tata Motors, Hindalco, M&M, ONGC and Bajaj Auto were losers in the Sensex.

Earnings better than expectations compared to the over pesimism which was built on the Street in the past two decades, says Nischal Maheshwari of Edelweiss Securities.The Sensex and Nifty opened on a flat note in trade on Tuesday after Monday's sharp upmove. The Sensex slipped 35 points to hit intraday low of 25,654 and Nifty fell 11 points to hit low of 7,855.Selling pressure was seen in select metal, oil & gas, auto and power stocks.

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The S&P BSE Sensex started on a cautious note on Tuesday weighed down by losses in Tata Motors, ICICI Bank, ITC, Bharti Airtel, and HDFC Bank.The Nifty50 came under pressure but was still trading above its crucial psychological support level of 7850. The fall in the index was led by losses in power, realty, oil & gas, metal, and consumer durable stocks. 

Indian shares rose nearly 2 percent on Monday, posting their biggest single-day percentage gain in nearly four weeks, as a recent string of positive corporate results raised tentative hopes about an improving domestic economy.Sentiment was also boosted after a weaker-than-expected U.S. jobs report on Friday left some economists anticipating only one interest rate hike from the Federal Reserve this year.

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The market has kickstarted the week on a strong note supported by index heavyweights. The Sensex is up 187.26 points or 0.7 percent at 25415.76, and the Nifty up 50.75 points or 0.7 percent at 7784.20. About 554 shares have advanced, 193 shares declined, and 45 shares are unchanged. Hindalco, ITC, NTPC, HDFC and Tata Steel are top gainers while Dr Reddy's Labs fell over 1 percent. 

Indian stock markets were seen outperforming other Asian markets. Most of the Asia markets were trading with a negative bias. China's Shanghai Composite was down 2.23 per cent, Shanghai Shenzen fell 1.7 per cent and KOSPI was down 0.63 per cent.

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The market has opened with some gains on Thursday. The Sensex is up 83.47 points or 0.3 percent at 25185.20, and the Nifty up 22.90 points or 0.3 percent at 7729.45. About 304 shares have advanced, 138 shares declined, and 20 shares are unchanged. Sun Pharma, Adani Ports, Hero MotoCorp, Tata Motors and Lupin are gainers while ITC, Tata Steel and Dr Reddy's Labs are losers in the Sensex.

Healthcare stocks led gains, with drugmaker Sun Pharma rising nearly 3 per cent to top the Nifty50 benchmark. Lupin, Cipla and Dr Reddy's shares also saw buying interest.Tata Motors rebounded today, while mortgage major HDFC extended its winning streak to a fifth straight day.Adani Ports continued to face selling pressure and was the top Nifty loser. Adani Ports, which tanked 12 per cent yesterday, traded 3 per cent lower.Cement stocks such as Ultratech and ACC also came under selling pressure.

ICICI sheds 10%+ in a week as investors seek safer bank stocks

ICICI Bank   shares have plummeted over 10 percent in just a week since it reported a steep 76 percent dip in fourth quarter profit, due to exceptional provisioning of Rs 3,600 crore. However, even as most broking houses have downgraded earnings estimate for the bank, they continue to hold a positive view on the stock over the long term. They concede though that shares could stay pressured in the near future due to negatives such as pre-provision operating performance (PPOP) weakness, expected high provisions on account of potential slippages, higher credit costs and lower fee income. 

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79 investment proposals worth Rs 3,300 cr cleared: HP Minister

Himachal Pradesh government has approved 79 proposals envisaging investment of Rs 3,300.16 crore out of total 117 proposals received in recent investor meets, state Industries Minister Mukesh Agnihotri said today. The minister said as many as 117 Industrial proposals with estimated investment of Rs 6,031.37 crore were received as a result of "investors meets" organised by the government at Mumbai, Bengaluru, Ahmedabad and New Delhi last year.

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Indian Share Market News Updates and Levels

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The S&P BSE Sensex slipped over 100 points in morning trade on Tuesday, led by losses in ITC, ICICI BankBSE -2.19 %, Tata Motors, Axis BankBSE -0.91 %, and Sun Pharma.The Nifty50 slipped below its crucial psychological level of 7850 weighed down by losses in power, oil & gas, consumer durable, capital goods, banks, and auto stocks. 

The Sensex .BSESN fell for a second consecutive session on Monday as worries about increased capex hit heavyweight Reliance Industries (RELI.NS), while Cairn India (CAIL.NS) was hit after posting a quarterly loss.The Nifty .NSEI fell 0.56 percent to close at 7,855.05, while the Sensex .BSESN ended down 0.62 percent at 25,678.93.

Equitas Holdings debuts at Rs 146, up 33% from issue price

Equitas Holdings   debuted at the exchanges at Rs 146.53 per share, up 33 percent from issue price of Rs 110. The IPO was opened from April 5-7, at a price band of Rs 109-110 per share. Subscribed over 17 times, the company's IPO raised about Rs 2,200 crore. The offer comprised fresh issue of shares aggregating Rs 720 crore and an offer for sale of up to 1,32,425,884 shares by existing shareholders, including P N Vasudevan, MD, and private equity stakeholders. The company has already mopped up Rs 652 crore from anchor investors.

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The market has opened strong riding high on global markets. The Sensex is up 121.41 points or 0.5 percent at 25965.59, and the Nifty is up 41.60 points or 0.5 percent at 7956.35. The 50-share index is at 2016 high, crossing January 1 high 7972. About 401 shares have advanced, 77 shares declined, and 22 shares are unchanged. ICICI Bank is up 6 percent while SBI, Tata Steel, Axis Bank and GAIL are top gainers. Wipro falls 5 percent.

Private sector lender ICICI Bank jumped over 7 per cent to top the Nifty50 index, after Credit Suisse upgraded the stock to outperform. Recognition of bad loans and the moderation in steel sector stress (to which ICICI Bank has significant exposure) will aid ICICI Bank's re-rating, the investment bank said.

March trade deficit narrows MoM to $5.07 bn vs $6.54 bn

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India’s trade deficit or the gap between merchandise imports and exports touched a 5-year low to come in at USD 5.07 billion in March from February’s USD 6.54 billion. On year-on-year basis, the deficit was down to USD 118.46 billion from USD 137.69 billion. A sharper rise in exports, which expanded month-on-month (MoM) to USD 22.7 billion from USD 20.7 billion aided in narrowing the deficit even while imports too widened marginally to USD 27.79 billion from USD 27.28 billion.  Oil imports were only a tad higher MoM at USD 4.8 billion, but a major jump was seen in silver imports to USD 210.9 million compared to USD 50.61 million in February.

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The market gained some strength after opening flat. The Sensex rose 74.30 points to 25412.88 and the Nifty reclaimed 7750 level, up 18 points to 7753.20. Hero Motocorp, Bajaj Auto, Lupin, Sun Pharma, Infosys, Vedanta, Tata Power and UltraTech Cement were early gainers while ONGC, Adani Ports, Coal India, HDFC, SBI, Idea Cellular and PNB were losers.

Selling pressure seen in select banking, metal, realty, capital goods, FMCG and PSU banking shares. On the other hand, pharma, IT, power and auto indices were quoting the green.

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The market has started on positive note Monday. The Sensex is up 60.76 points or 0.2 percent at 25013.50, and the Nifty is up 14.85 points or 0.2 percent at 7619.20. About 346 shares have advanced, 110 shares declined, and 37 shares are unchanged. SBI, GAIL, Lupin, Sun Pharma and Wipro are top gainers while Hero, Adani Ports, Dr Reddy's Labs, Infosys and Maruti are losers in the Sensex.

The Sensex and Nifty are set to open higher tracking positive trading of Nifty futures on the Singapore Stock Exchange.The Nifty futures traded on the Singapore Exchange traded 0.3 per cent or 22 points higher at 7,635.

No tax on PPF withdrawal; only interest to be taxed in EPF: Govt

The government today has clarified that the popular public provident fund (PPF) scheme will continue to stay out of the tax ambit and that tax will be levied only on accrued interest on 60 percent of employee provident fund (EPF) contribution. This was confirmed by Revenue Secretary Hasmukh Adhia who spoke to PTI, a day after the Union Budget set the cat among the pigeons when the Finance Minister vaguely referred to tax being referred to PF schemes. Further, small salaried employees with up to Rs 15,000/month income will be kept out of purview of proposed taxation of EPF.

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The S&P BSE Sensex surged over 300 points in morning trade on Tuesday led by gains in ITC, Infosys, ICICI Bank, Axis Bank, L&T. The Nifty50 reclaimed its crucial resistance level of 7,050 supported by gains in IT, oil & gas, metal, capital goods, banks, and auto stocks. 

Indian bonds and the rupee rallied on Monday after Finance Minister Arun Jaitley said the government would stick to its fiscal deficit target for 2016/17, raising expectations the Reserve Bank of India (RBI) may cut interest rates before its next policy review in April.The benchmark 10-year bond yield ended down 16 bps at 7.62 percent, after falling as much as 18 bps intraday, the lowest since Jan. 22. The 10-year benchmark bond yield posted its biggest single-day fall since June 8, 2015.

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The Sensex is down 9.31 points at 23144.99 and the Nifty is down 6.05 points at 7023.70. About 720 shares have advanced, 656 shares declined, and 80 shares are unchanged. Aviation stocks like Jet Airways and SpiceJet are down 4-6 percent. According to CNBC-TV18, in best case scenario, the Nifty could make a move to 7250-7300. However, the big question will be if fresh selling emerges if Nifty goes to 7250. In worst case scenario, Nifty could break recent low of 6869, say CNBC-TV18 analyst.

Stock markets extends losses on the back of selling in FMCG, IT, auto and oil & gas stocks. The Sensex fell as much as 88 points to hit low of 23,066.41 and Nifty fell below its crucial psychological level of 7,000. The index declined 30 points to hit low of 6,999.30 ahead of Budget announcements.

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The domestic market is expected to trade in a range on Monday ahead of the Union Budget 2016, tracking positive trend seen in other Asian markets.In the pre-Budget session on Friday, Nifty bounced back and formed a higher top and higher bottom on the daily chart. If the index manages to rally above 7,250, then the bounce may take the index higher. 

Jaiprakash Associates gains 6.6 pct, UltraTech Cement up 2.2 pct.UltraTech on Sunday said it agreed to buy 12 cement plants from Jayprakash Associates for an enterprise value of 165 billion rupees ($2.4 billion).Deal has "long-term benefits" for UltraTech but could face legal hurdles from competition regulator.