Indian shares hit 7-mth closing high; airlines jump on FDI hopes

Wed Sep 12, 2012 4:57pm

BSE rises 0.82 pct, NSE gains 0.76 pct

* Potential airline measures cement reform hopes

• Fed meeting outcome on Thursday seen key

By Abhishek Vishnoi

MUMBAI, Sept 12 (Reuters) - India's BSE index rose for a sixth consecutive session to close at its highest since Feb. 23 on rising hopes for government reforms after the aviation minister signalled the country was moving to allow foreign direct investment into the sector.

Allowing foreign carriers to invest in the sector would help cement expectations for further government action, with investors also hopeful India will open up the multi-brand retail sector and raise fuel prices to lower its subsidy burden.

Gains in local shares on Wednesday also tracked a risk-on mood globally, after Germany's top court backed the legality of the euro zone bailout funds, although with conditions.

Investors are also hopeful the Federal Reserve will announce new U.S. asset purchases when it concludes its two-day meeting on Thursday, although some analysts warned of the dangers of relying on liquidity that is driven by global risk factors.

"The path is laid for FDI in aviation to go through,"said Ambareesh Baliga, chief operating officer at Way2Wealth Securities.

"International cues such as German court ruling are triggers which will take the market up for a while. But markets cannot sustain those higher levels unless you have a fundamental domestic reason to keep it up," Baliga added.

India's benchmark BSE index rose 0.82 percent to end at 18,000.03 points, just above the psychologically key level of 18,000 points.

The 50-share NSE index rose 0.76 percent to mark its highest close since March 14.

Data on Wednesday showing India's industrial output rose 0.1 percent in July, just below expectations for a 0.3 percent increase, had little impact in markets.

Instead, investors cheered comments from India's civil aviation minister Ajit Singh saying he had talked to most of the government's political allies on opening up the sector, raising hopes action could be near.

Policy reforms are seen key for a country facing ratings downgrades into sub-investment grade.

HSBC downgraded Indian stocks to "underweight" from "neutral" on Wednesday, citing the government's lack of progress in fiscal or structural reforms as a key factor.

AIRLINES SURGE

SpiceJet Ltd gained 7.12 percent, its biggest percentage gain since Aug. 7.

Under current rules, foreign airlines are barred from buying stakes in domestic carriers, although foreign investors are allowed to hold a cumulative 49 percent.

Kingfisher Airlines, which has been reeling under heavy debts, advanced 8 percent, while Jet Airways rose 4.85 percent.

Shares in Tata Motors gained 5.38 percent, marking a sixth day of gains on anticipation of a boost in sales when the auto maker releases a fourth-generation Range Rover in October.

Shares in Gujarat State Petronet Ltd gained 3.8 percent, after Petroleum & Natural Gas Regulatory Board (PNGRB) cuts tariffs to transport gas via high pressure networks in the state of Gujarat by less than expected.

Apollo Tyres jumped 6.46 percent to 99.65 rupees, after Bank of America-Merrill Lynch raised its target price to 135 rupees, predicting profit margins would continue to improve on the back of a better sales mix and pricing discipline, among other factors.

However, shares in Reliance Mediaworks dropped 2.6 percent on worries about its loan exposure after Digital Domain Media Group Inc filed for bankruptcy protection. Shares in the Indian unit of Siemens fell 2.7 percent after the German company sold 1.1 pct of its stake via 8 block deals.

Siemens had been looking to sell about a 1.2 percent stake in a deal meant to raise up to $50 million, according to a term sheet seen by Reuters on Tuesday. For more stocks on the move, double click

FACTORS TO WATCH

Euro rally after German court verdict

* Oil gains on euro zone bailout, Fed hopes

* Euro bailout fund approval boosts global stocks

* Foreign institutional investor flows

* For closing rates of Indian ADRs

ASIA-PACIFIC STOCK MARKETS:

Pan-Asia........ Japan....... S.Korea... S.E. Asia....... Hong Kong... Taiwan.... Australia/NZ.... India....... China.....

OTHER MARKETS: Wall Street .... Gold ....... Currency.. Eurostocks..... Oil ........ JP bonds... ADR Report ..... LME metals. US bonds.. Stocks News US.. Stocks News Europe

DIARIES & DATA: Indian Data Watch Asia earnings diary U.S. earnings diary European diary Indian diary Wall Street Week Ahead Eurostocks Week Ahead

TOP NEWS: For top Asian company news, double click on: U.S. company news European company news Forex news Global Economy news Technology news Telecoms news Media news Banking news Politics/General Asia Macro

(Additional reporting by Manoj Dharra)

Copyright in.reuters

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Indian Share Market Trend - NSE|BSE

Share intraday tips :

Buy Maruti Suzuki India Ltd below 1180.00, target 1192.00 for Intraday

Buy Grasim Industries AUG Futures in the range of 3040-3045

Buy Housing Development & Infrastructure Ltd below 74.00, target 75.20 for Intraday

Nifty Breaks its Crucial Support :

Today on Tuesday 28 August, BSE Sensex and Nifty drifted further lower amid increased volatility. Indian Share Markets are expected to be choppy ahead of the derivatives expiry later this week.

At 10.40 a.m., the Sensex traded 25 points or 0.14 per cent lower at 17,653 while the broader Nifty index was down 11 points to 5,339. The rupee, too, traded lower against the dollar at 55.77.

Other then this Metal stocks saw the deepest cut, falling 1.8 per cent. Metals are high beta stocks and tend to fall more than the benchmark indices. 

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Market Trend For Tomorrow 16-Sept

Indian Stock Markets closed with significant gains in highly volatile session today on a positive note ahead of the RBI policy.

On Daily charts, we are observing that RSI and Stochastic are northbound. For the coming session, we can see 5030 as the immediate support and if this is broken, next support is seen at 5000-4960. On higher levels, 5130 is the immediate resistance for Nifty and any gains above these levels are likely to face stiff resistance at 5160-5200. Traders are advised to trade in small quantities and with strict stop-loss.

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Nifty Intraday Outlook For Tomorrow 19-Aug

Heavy sink was witnessed in Indian Stock Markets. Both benchmark indices (Nifty and Sensex) lost more than 2% as Nifty made 52-week intraday low of 4932.15. Nifty opened today at 5077.95 up 20 points from the previous close at 5056.60. It traded in the red for the entire session and finally closed at 4944.15 or 2.22% down.

On Daily charts, we are observing that the momentum indicator RSI is outbound. For the coming trading session, 4900 may act as the immediate support level for Nifty and if this is broken, next support is seen at 4860-4800. On the upside, 4995 is the immediate resistance for Nifty and any gains above this level may lead it to 5050-5100 levels.

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Intraday Stock Tips For Tomorrow 18-Aug

HCL Technologies Ltd.
Buy above 424 for target of Rs 428-431-433.60 with placing a stop loss of Rs 418.

Idea Cellular Ltd.
Buy above 95 for target of Rs 97-98-98.75 with placing a stop loss of Rs 92.80.

Tata Steel Ltd.
Buy above 474 for target of Rs 479-482-485 with placing a stop loss of Rs 468.

Nifty Intraday Tips On Mobile

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Nifty Intraday Outlook For Monday 08-Aug

Nifty slipped till 5,116 and recovered from this point and closed above 5,200. In coming trading sessions Nifty can bounce back to 5,300-5350 levels and 5,460 may act as major resistance in future but the overall trend remains bearish as major supports of 5,180 were broken in Intraday.

Traders and investors can start buying in small quantities in fundamentally strong companies which are at attractive valuations. Nifty still hasn`t reversed completely and so short term players should have their positions properly hedged. If Nifty moves below 5,120, then further selling can be seen towards 5000 levels in the near term.

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Nifty Outlook For Tomorrow 16-June

Market outlooks are likely to be affected by the outcome of RBI's meeting tomorrow. Nifty is likely to consolidate within 5,370-5,530 range.

Sentiment may remain weak below 5,500 level and selling pressure may be seen until it trades below this point. For intraday trading, trend deciding level is 5,470. If Nifty shows strength above 5470 levels, then rally to 5,510/5,540/5,570 levels may be seen. If Nifty does not show strength above 5,470 levels then selling pressure till 5,410/5,370/5,325 may also be seen.

Nifty Tips

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Market Performance For The Week (06-10 June)

Benchmarks indices pared some of the intraday losses and closed near support levels today as lower-than-expected April IIP data hurt sentiments. All the major sectoral indices closed lower with capital goods, FMCG and realty space under pressure. Owing to weak global cues, the markets didn't make any clear headway during the week and remained rangebound.

Both benchmark indices and most of the sectoral indices closed in the red and the details are following: 

• The Nifty and Sensex lost 0.6%, 
• The CNX Midcap index was down 0.01%,
• The BSE Auto lost 2%, 
• BSE Realty gained 0.81% and 
• BSE Metal lost 1.26% during the week.

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Share Tips For Intraday Tomorrow 08-June

Aptech Ltd. (All TGTs Hit)
CMP : 101.25
Buy @ 101-101.50 for Target of Rs 103.30 - 104 - 104.75 and Stoploss of Rs 100.20.

Ramky Infrastructure Ltd. (First TGT Hit)
CMP : 297.55
Buy around 296-297 for Target of Rs 301 - 304 - 306++ and Stoploss of Rs 292.

ARSS Infrastructure Projects Ltd. (Call Didn't Execute)
CMP : 457.20
Buy above 460 for Target of Rs 466 - 471 - 476 and Stoploss of Rs 454.

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Best Stocks To Buy, Stock Recommendation

Glenmark Pharma is probably the stock that you would like to buy. Once we have seen that it sustained above 308-309, it is possible that the next rally takes it all the way up to levels of 360. This one is a nice space between 280 and 300, so keep a stop of about maybe 280 and place a target up to 365-370.

Similarly If you want to trade things on a delivery basis, Pidilite has been a very good stock and in a sustained uptrend that never really declines a whole lot, now it is breaking out above levels of 160-161. The next targets are closer to 200, and you should place a strict stoploss of Rs 140.

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Nifty Forecast For Tomorrow 08-June

For intraday tomorrow Nifty is likely to open on a flat note. Today, Nifty showed good strength and closed in green with moderate gain. Nifty is trading in 5,380-5,615 range, until Nifty manages to show strength above 5,615 or below 5,380 levels, volatility and range bound scenario may be continuing. Traders should be cautious within this range.

For tomorrow trend deciding level is 5,550. If Nifty shows strength above 5,570 levels, then rally to 5,615/5,650/5,690 levels may be seen. On the downside if Nifty does not show strength above 5,550 levels then selling pressure till 5,520/5,480-5,450 may also be seen.

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Nifty Intraday Outlook for Tomorrow 07-June

Market still seems to be in consolidation phase in the near-term. Nifty traded rangebound today and set to close in green with moderate gains. For next trading sessions Nifty is likely to find support in the range of 5475-5425 levels and 5,580-5,625 levels may act as resistance for next trading sessions.

If Nifty manages to trade above 5,550 level with high volume than we can see up-move towards 5,600, otherwise on the down side, below 5500 level more correction can be seen in Nifty.

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Nifty Intraday Tips and Trend For Monday 06-June

Market seems to be in consolidation phase in the near-term. Nifty is likely to find support in the range of 5400-5350 levels and 5,575-5,650 levels may act as resistance for next trading sessions.

As selling pressure is intensifying we can see 5465-5430 levels as crucial support levels, while 5,550-5600 as strong resistance levels for the market on Monday. If Nifty breaks 5,550 with high volume than only we can see up-move towards 5,600, otherwise more correction can be seen in Nifty.

For intraday trading on Monday (06-June) if Nifty trades above 5535 levels then it is likely to test 5,570 - 5,600 levels. However, on the downside it may test 5,450 levels.

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Nifty Outloook For Tomorrow 03-June

After two consecutive positive rally, Indian Markets slumped due to weak global cues. Selling pressures in Banking and Auto Sectors lead market to close at 5550. For next trading sessions if market manages to trade above 5580-5600 level then Nifty is likely to touch 5750 levels else it may drag down to 5400-5325 levels.

For intraday trading tomorrow (03-Jun) if Nifty shows strength above 5,575 levels, then rally to 5,620/5,650/5,680 levels may be seen. On the down side if Nifty fails to trade above 5,575 levels then selling pressure till 5,510/5,465/5,430 may also be seen.

 

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Stock Market For Tomorrow 02-June

For trading tomorrow Nifty is likely to open on a positive note. Today, Nifty showed strength to trade above 5,550 resistance level and closed near 5,600 level, which indicates that uptrend may continue in coming trading sessions.

For intraday tomorrow 5,610 may act as decisive level. If Nifty sustains above 5,610 level, then rally to 5,650/5,680/5,725 levels may be seen. If Nifty does not show strength above 5610 levels then selling pressure till 5,530/5,500/5,465 may also be seen.

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Stock Market Forecast For Tomorrow 01-Jun

It was a cheerful day Indian Stock Markets. Markets closed with handsome gains today and Nifty broke its psychological level of 5500. Market has crossed its major resistance levels and has come in uptrend. If market continue its uptrend above 5550 level then Nifty may head to 5750 levels in coming trading sessions. Traders may create long positions in Nifty and hold them till the trend remains up.

For intraday trading tomorrow (01-Jun) if Nifty shows strength above 5,550 levels, then rally to 5,600/5,640/5,675 levels may be seen. On the down side if Nifty does not show strength above 5,550 levels then selling pressure till 5,500/5,470/5,430 may also be seen.

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Stock Recommendations, Best Stocks To Buy

Havells India Ltd (Buy)
CMP : 409.40

It is a good mid-cap momentum play. Restructuring benefits will help the company and ECD is likely to drive revenues. Buy it for mid-term period with target of Rs 480.

Ipca Laboratories Ltd (Buy)
CMP : 333.35
The company reported 40 per cent growth in revenues and 66 per cent growth in profits. Domestic business has been soft but that has been made up by export formulation side that contributed over 70 per cent to the revenues. Buy it for target of Rs 415.

Ask to Expert For Any Query

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Nifty Intraday Outlook For Tomorrow 31-May

Today markets traded rang-bound with very low volume, and closed almost flat with small loss of Rs 3 in Nifty and Rs 34 in Sensex.  Market is trading at major resistance level of 5525 which if broken will give fresh direction for the market. But till the overall trend remains down, the traders are suggested to stay away from the market and do not create any long positions.

For intraday trading tomorrow, the trend deciding level is at 5,500. If Nifty shows strength above 5,500 levels, then rally to 5,550/5,580/5,625 levels may be seen. On the down side if Nifty does not show strength above 5,500 levels then selling pressure till 5,440/5,400/5,350 may also be seen.

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Markets Outlook For Monday 30-May

Overall, the market will stay sideways in the near-term. The Nifty is likely to find support in the 5,300-5,400 levels and resistance in the 5,500-5,600 range for next week trading sessions.

Due to positive rally today we can see 5,550-5600 as strong resistance levels for the market next week. If Nifty breaks 5,500 with high volume than only we can see up-move towards 5,600. However we feel for the coming week market to trade in the range of 5,400 and 5,600.

For intraday trading on Monday (30-May) trend deciding level is at 18325 / 5490. If indices trade convincingly above this levels then they are likely to test 18,500 - 18,650 / 5,550 - 5,600 levels. However, on the downside if 18,175 / 5,440 level is breached then indices may test 18,050 / 5,400 levels.

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Nifty Intraday Tips For Monday 23-May

After a long choppy sessions Indian Stock Markets witnessed a cheerful trading today. Nifty today showed absolute strength and reached above 5,500 but came to a close for the day in green but off the day's high. By looking at market snap today it seems the investors have gained some confidence as Nifty showed some consolidation around 5,400 and on technical ground it was a bit oversold.

For intraday trading on Monday major resistance is there at 5580 levels. But still we can't conclusively expect that the markets have bottomed out. As the decision on diesel and LPG price hike is pending, negativity factor will remain dormant till then. For the same trading day Nifty would find support level around 5430-5370.

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