MARKET Diary
Value % Change
SGX NIFTY 7,919.00 0.10%
19425.43 0.15%
HANG SENG
Sensex 25,807.10 -0.90%
Nifty 7,909.25 -0.97%
DOW
NASDAQ
CAC
Event Today DAX
FTSE
EW ALL SHARE 14,104.66 -1.46%
JSWENERGY : General
GOODLUCK : General Value % Change
27037.00 0.16%
38513.00 -0.21%
53.09 0.13%
252.40 1.16%
67.74 -0.12%
70.76 -0.09%
83.16 -0.06%
Investor Buy(Cr.) Sale(Cr.) Net(Cr.)
26-Dec-16 988 2083 (1095)
Dec-16 96295 115843 (19548)
2016 980266 977416 2850
Investor Buy(Cr.) Sale(Cr.) Net(Cr.)
26-Dec-16 2107 1041 1065
Dec-16 63383 45782 17600
2016 455024 426707 28316
Quote of the Day : "We both (He and Warren Buffett) insist on a lot of time being available almost every
day to just sit and think. That is very uncommon in American business. We read and think. So Warren and I do
more reading and thinking and less doing than most people in business. We do that because we like that kind
of a life." Charles Munger
FII
27-Dec-16
DII
Commodity Price ( Yesterday Closing )
GOLD
NATURALGAS
DOLLAR/RS.
EURO/RS.
Commodity/Currencies
SILVER
Market
NIKKIE
% Change in 1 day
% Change in 1 day
Indian equities opened at lower and traded in the
negative territory throughout yesterday. Nifty was
sharply down in first an hour of opening of the
market and make an intraday low of 7895. Then
nifty was sideway moment till closing. Market
sentiment was Weakness due to PM Narendar
Modi had clearly stated the government’s intent to
raise the tax level in securities market . Though
Finance Minister Arun Jaitley clarified that media
reports of Modi`s speech are erroneous, adding
further that the government has no plans to
introduce long-term capital gains tax on share
transactions. At the end of the day the index closed
at 7908.25. It had a net loss of -0.97% over the
previous day’s close. The midcap and small cap
indices also down sharply and closed the day after
declining 2.86% and 2.24% respectively.
On the sectoral front, the selling pressure was
witnessed across the board. Banking, Auto,
Financial services , Metal, Media , Pharma stocks
and only FMCG was on the buyers’ radar. The
breadth of the market was very poor and about
seven shares declined for every share advanced at
NSE.
The foreign investors were the net sellers in the
cash segment and they sold Rs 1095.04 crores
worth of equities on Monday.
Traders may take short position and sell on rallies.
We revise our trail stop loss to 8111.
Morning Traded Market
Nifty Intraday Chart Market
Institutional Turnover
Yesterday Closing Market
POUND/RS.
Market Outlook
CRUDEOIL
Board Meetings
Closed
Closed
Closed
Closed
Closed
Closed
KEY LEVELS
Support 1 : 7753
Resistance 1: 8022 Resistance 2: 8230
Narnolia Securities Ltd
IEA Snapshot
"BUY"
"NEUTRAL"
Top News
• United Bank of India said that cost of funds will increase if
farm loan waiver is announced. the bank has received net
deposit of Rs 10,500 crore. There is no major improvement in
non-performing asset (NPA) recovery. However, major part of
the book is clean
*For details, refer to our daily report- India Equity Analytics
• Mgt Int : UNITEDBANK
cost of funds will increase if farm loan waiver is announced.
On the account of demonetizaion, Mgt said that the bank has
received net deposit of Rs 10,500 crore.
There is no major improvement in non-performing asset (NPA)
recovery. However, major part of the book is clean.
• Lupin has received tentative approval for its Olmesartan Medoximil
tablets, 5 mg, 20 mg and 40 mg from the United States Food and Drug
Administration (FDA) to market in the US
These tablets are the AB rated generic equivalents of Daiichi Sankyo
Inc's Benicar tablets, 5 mg, 20 mg and 40 mg.
Benicar tablets had US sales of USD 1.06 billion, according to IMS MAT
data of September 2016.
• CONCOR will definitely try to pass on the price hike. It will be
done in phases. Company hope that the full impact of our
initiative will be seen in Q3 and hopefully the negative effect, if
any, of the demonetisation will also hopefully die down by then.
Mgt expect that 20 percent EBITDA margins in FY17.
• The Ministry of Defence is about to select two private sector
companies to design the prototype of the futuristic infantry
combat vehicle or (FICV). A consortium of Tata Motors and
Bharat Forge is vying for this USD 12 billion project. Company
has General Dynamics of Canada, collaboration with France and
Bharat Forge as a consortium partner. They win the order it
would take them about 30 years to complete the 2100 FICV
order, for which the investment would be around Rs 3500 per
year. The company would put in 20 percent of the design and
development cost and the government would put in 80 percent
• Larsen & Toubro (L&T) has bagged orders worth Rs 3,039 crore
across various business segments, including power transmission and
distribution, and heavy civil infrastructure.
• NTPC said that its wholly-owned arm NTPC Vidyut Vyapar Nigam has
signed power purchase pact with Nepal Electricity Authority to supply
160 MW power for January-May 2017. NTPC Vidyut Vyapar Nigam
Limited (NVVN) has signed Power Purchase Agreement(PPA) with Nepal
Electricity Authority (NEA) for supply of up to 160 MW power for the
period January 2017 to May 2017 through Muzaffarpur-Dhalkebar
transmission line
• Japan’s index of leading economic indicators rose to a seasonally
adjusted 100.8, from 101.0 in the preceding month. Analysts had
expected Japan’s index of leading economic indicators to rise 101.0 last
month.
• Japan’s CSPI fell to a seasonally adjusted annual rate of 0.3%, from
0.5% in the preceding month. Analysts had expected Japan’s CSPI to
remain unchanged at 0.5% last month.
• U.S. new home sales rose to a seasonally adjusted annual rate of
592K, from 563K in the preceding month.
ASHOKLEY
Going forward, We assume that the upcoming emission norms BS-IV to BS-VI, focus towards the export markets, improvement in demand
from infrastructure segment, diminution of investments in subsidiaries will help the company to focus on its commercial vehicle business
and government's initiative to develop defence products in the country can be volume boosters for the company in FY17. The current
demonetization issue has impacted the transport sector most because a lot of transactions happen through cash. The sales may be down
by 10-12% for next couple of months but we are hopeful that the situation might improve in 4QFY17 due to pre-buying during the quarter.
We expect that the company will maintain a healthy ROE of over 20% going ahead. We maintain 'BUY' looking at the huge growth potential
going ahead but considering the uncertain demand scenario we reduce our target to Rs.110.
DABUR’s 2QFY17 result was below than our expectations. Sales for second quarter grew by 1% YoY to Rs 1981 cr on the back of sluggish
growth from international business. International business has contributed approx. 34% of company’s sales in 2QFY17. International
business declined by 2.3% YoY in this quarter due to geo political disturbances in the MENA region and adverse currency impact. Lastly,
the company is getting tough competition from Patanjali. Patanjali is strong in north and west India from where Dabur gets Substantial part
(approx. 60% of its footprint) of its domestic business which is another concern for DABUR. Hence considering tepid international business
growth outlook, tough competition from Patanjali and stress in rural demand we maintain `Neutral’ rating on Dabur with no target price.
26th Dec 2016
27th Dec 2016
DABUR
Narnolia Securities Ltd
Scrip Reco Initiation Price Target 2 Stop Loss
Bajaj-Auto Buy 2620 2750 2550
F&O OPEN INTEREST ( Number of Contracts )
Individual
Nifty Movers
Foreign Institutions
NSE Sectoral Indices Performance
MARKET MOVERS (1 MONTH CHANGE)
Domestic Institutions Proprietary
TRADING IDEAS
RationalTarget 1
2735Stochastic is showing strength with good
volume. ATM & OTM CE writters are also
unwinding their postion.
Narnolia Securities Ltd
CountryMonday
26th Dec 16
Tuesday
27th Dec 16
Wednesday
28th Dec 16
Thursday
29th Dec 16
Friday
30th Dec 16
US
CB Consumer
Confidence , Richmond
Manufacturing Index ,
S&P/CS Composite-20
HPI y/y .
Pending Home Sales m/m.
Unemployment Claims , Crude
Oil Inventories , Natural Gas
Storage , Goods Trade Balance.
Chicago PMI.
UK/EURO ZONE
Current Account , Final
GDP q/q , Index of
Services 3m/3m ,
Revised Business
Investment q/q .
German Import Prices m/m
,GfK German Consumer
Climate.
Spanish Flash CPI y/y , M3
Money Supply y/y , Private
Loans y/y .
Housing Equity
Withdrawal q/q
INDIA
Economic Calendar
Narnolia Securities Ltd
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Road | Kolkata-700 020 , Ph : 033-40501500
email: [email protected],
website : www.narnolia.com
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action based upon it. This report/message is not for public distribution and has been
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should use their own judgment for taking any investment decisions keeping in mind that
past performance is not necessarily a guide to future performance & that the the value of
any investment or income are subject to market and other risks. Further it will be safe to
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and/or employees may have interests/ positions, financial or otherwise, individually or
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