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CAPITALSTARS- INDIAN EQUITY MARKET OUTLOOK – 17 MAY 2018

capitalstars Equity market Outlook

Nifty likely to open flat; Bajaj Finserv, Escorts, JSW Steel to be in focus

Indian Indices:        

The Nifty50 is likely to open on a flat note Thursday following muted trend seen in Asian stocks. The index closed down 60.80 points at 10,741.10 on Wednesday. The SGX Nifty futures also indicated flat trade as it was trading at 10,765.50, up 1.50 points on the Singaporean Stock Exchange. Asian stocks were narrowly mixed, shrugging off the firmer close on Wall Street as the yield on the US 10-year Treasury stayed above 3 percent.

Global Market:

  • Asian markets- In equity markets, MSCI’s broadest index of Asia-Pacific shares outside Japan was little changed, while Japan’s Nikkei gained 0.4 percent and South Korea’s KOSPI rose 0.4 percent.
  • US Markets: The Dow Jones industrial average closed 62.52 points higher at 24,768.93. The S&P 500 gained 0.4 percent to 2,722.46 and the Nasdaq composite advanced 0.6 percent to 7,398.30.
  • European markets- European markets finished higher today with shares in France leading the region. The CAC 40 is up 0.26% while Germany’s DAX is up 0.20% and London’s FTSE 100 is up 0.15%.

Major Headlines of the day:

  • Tata Steel Q4:- Consolidated profit at Rs 14,688 crore versus loss Rs 1,168 crore; revenue at Rs 36,132.30NTPC to take over power projects in Bihar.
  • Ester Industries Q4: Net profit at Rs 5.6 crore versus loss of Rs 0.6 crore; revenue at Rs 220 crore versus Rs 215.1 crore (YoY).
  • JK Lakshmi Cement Q4: Net profit up 62.5 percent at Rs 33.8 crore versus Rs 20.8 crore; revenue up 11.2 percent at Rs 897 crore versus Rs 806.7 crore (YoY).
  • Alembic Pharmaceuticals Q4: Profit up at Rs 93.99 crore versus Rs 92.96 crore; revenue up at Rs 853.3 crore versus Rs 741.35 crore (YoY).
  • JSW Steel Q4: Consolidated net profit at Rs 2,879 crore versus Rs 1,008 crore; revenue up 25 percent at Rs 20,817 crore versus Rs 16,656 crore (YoY).
  • Godrej Agrovet keen to acquire Ruchi Soya’s Oil Palm business

Trend in FII flows:  The FIIs were Net Value of Rs  -699.22 in the cash segment WEDNESDAY while the DIIs were Net Value of Rs 229.06 as per the provisional figures.

TODAY ON EARNING FRONT:-   BAJAJ FIN SERV, LUX IND, BAJAJ FIN, KIRLOSKAR IND, BALKRISHN IND, ESCORTS, VOLTAS, KEI, COFFEE DAY, TAJ GVK, TAKE SOLUTIONS, BLISS, SKIPPER, JK TYRES, RELIANCE CHEMO

Securities in Ban For Trade Date 16-MAY-2018 :

  1. DHFL
  2. Jet Airways,
  3. Jaiprakash Associates,
  4. Just Dial,
  5. PC Jeweller,
  6. Wockhardt and
  7. Reliance Communications

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