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INDIAN EQUITY MARKET OUTLOOK-30 JUNE 2016

Bulls eye wide open on Dalal Street

Indian Indices:

Indian equity benchmarks are set to witness a gap up opening on Thursday tracking a firm trend across markets in Asia and a bullish finish at Wall Street overnight as jitters over the economic fallout from Britain’s vote to exit from the EU calmed amid optimism that global central banks may step up support to financial markets, bolstering risk taking appetite.

Gains in the CNX Nifty Index Futures for June delivery climbed by 0.61 per cent or by 50 points to 8,258 at 10:35 AM Singapore time signaling that Dalal Street may open higher today. However, volatility may remain high at the local bourses as traders roll over their positions ahead of the expiry of the June Futures & Options (F&O) contracts today.

Marking a third straight rally, the 30-share Sensex surged by a whopping 215.84 points or by 0.81 per cent on Wednesday to end at 26,740.39, the biggest single day percentage gain in two weeks after the Cabinet gave nod to a pay hike for government employees

Global Market:

Global stocks rebounded after Brexit concerns softened. Speculation that central banks worldwide may act if required in the aftermath of Brexit boosted Asian equities today. While the Federal Reserve is unlikely to raise interest rates in the coming months, other central banks have pledged to boost stimulus to restore confidence in financial markets and support economic recovery.

China’s Shanghai Composite logged modest gains, Hang Seng jumped nearly 2 per cent and Japan’s Nikkei 225 advanced as Brexit concerns receded and Bank of Japan Chief Haruhiko Kuroda asserted that more funds can be injected into the market if needed.

Wall Street marked its biggest two-day jump in four months on Wednesday as worries over the fallout of Brexit on the global economy eased.

Major Headlines of the day:

• Natural rubber climbs 12-15% in June 2016 to a 2-month high

• Axis Bank may tie up with Wells Fargo and/or others in Fintech

• Bharti Airtel’s promoter suggests high possibility of pressure on tariff

Trend in FII flows: The FIIs were net buyers of Rs 102.91 Cr in the cash segment on WEDNESDAY while the DIIs were net sellers of Rs -20.19 Cr, as per the provisional figures.

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INDIAN EQUITY MARKET OUTLOOK-29 JUNE 2016

Indian markets - Indices signal positive start on global support.

Indian Indices:

Indian equity benchmarks are likely to witness a positive opening on Wednesday tracking a rally across markets in Asia and a bullish finish at Wall Street overnight as speculation heightened that global policymakers may boost stimulus to contain the economic fallout of Britain’s stunning decision last week to leave the EU, helping quell market turmoil, bolstering risk taking appetite.

Gains in the CNX Nifty Index Futures for June delivery which climbed by 0.29 per cent or by 23.5 points to 8,155 at 10:43 AM Singapore time signal that Dalal Street may open higher today.

Hopes that the GST will be passed in the upcoming monsoon session of the Parliament may also support sentiment. However, volatility may remain high at local bourses as traders roll over their positions ahead of the expiry of the June Futures & Options (F&O) contracts this Thursday.

Rebounding from its biggest loss in over four months, the 30-share Sensex, on Tuesday logged modest gains, advancing by 121.59 points or by 0.46 per cent to end at 26,524.55 even as Brexit continued to weigh on sentiment

Trend in FII flows: The FIIs were net buyers of Rs -146.11 Cr in the cash segment on Monday while the DIIs were net sellers of Rs 147.07 Cr, as per the provisional figures.

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INDIAN EQUITY MARKET OUTLOOK-27 JUNE 2016

Indian markets Brexit becomes scary, Dalal Street signals weak start.

Indian shares are likely to open on a bearish note as the global cues look subdued with SGX Nifty trading 30.50 points lower.

Indian Indices:

Indian equity benchmarks are likely to witness a significant gap down opening on Monday as the Brexit overhang continues to roil trading sentiment at Dalal Street. Losses in the CNX Nifty Index Futures for June delivery which fell by 0.80 per cent or by 64.5 points to 8,014 at 10:17 AM Singapore time signal that key Indian stock indices may open lower today.

UK’s shock exit from the European Union has exacerbated uncertainty surrounding the global economic outlook, curbing risk taking appetite. Volatility may remain high at the stock bourses this week while the rupee which tumbled the most in ten months on Friday may continue to remain under pressure with Brexit likely to prompt a shift away from risky assets including emerging market equities. Meanwhile, caution and volatility ahead of the Futures & Options (F&O) contract expiry for the month of June may also influence domestic bourses this week.

The progress of the monsoon rains and the release of the June auto sales numbers starting Friday will also be eyed this week. On Friday, the 30-share Sensex fell 604.51 points at 26,397.71 after tumbling as much as 1,091 points earlier as Brexit triggered a knee-jerk reaction.

Global Market:

Asian markets were trading mixed on Monday with investors awaiting more policy action from global central banks to quell the market turmoil by pumping liquidity into financial markets.

China’s Shanghai Composite rose after the People’s Bank of China weakened the yuan fixing by the most since August in response to the surge in the dollar. The country’s central bank set the reference rate 0.9 per cent weaker at 6.6375 per dollar.

Hang Seng fell but Japan’s Nikkei 225 rose by over 1.5 per cent, rebounding from the biggest drop since the aftermath of the 2011 earthquake as the yen steadied following its largest jump since 1998 and as Prime Minister Shinzo Abe issued instructions to calm markets following the UK’s stunning decision to quit EU.

On Friday, Wall Street suffered its biggest sell-off since August with the Dow, Nasdaq and S&P 500 sinking over 3 per cent, amid worries that UK’s decision to leave the EU may deal a further blow to an already fragile global economic recovery.

Meanwhile, a 2.2 per cent drop in US durable goods orders in May and a dip in US consumer sentiment in June signaled concerns over the health of the world’s biggest economy.

Major Headlines of the day:

•Bajaj Finserv likely to buy out Allianz’s stake in insurance joint ventures

•Zuari avails unsecured inter corporate deposit of Rs100 Cr from Adventz finance

•Crompton Greaves Consumer Electricals board approves raising NCDs worth Rs650 Cr.

Trend in FII flows: The FIIs were net buyers of Rs -629.14 Cr in the cash segment on FRIDAY while the DIIs were net sellers of Rs 114.94 Cr, as per the provisional figures.

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Worst day in 10 months as Wall Street reacts to 'Brexit'

The S&P 500 turned negative for the year-to-date on Friday as Wall Street suffered its largest selloff in 10 months after Britain's decision to leave the EU caught traders wrong-footed.

In the busiest trading volume for a single session in nearly five years, financial stocks led the decline on the S&P 500 with a 5.4% drop -the largest for the sector since November 2011.

The S&P 500 lost all the year's gains and suffered its largest decline since late August last year.

Equity futures neared an 11-month high to start the overnight session as markets wrongly bet that the "Remain" camp would prevail in Britain's referendum, but sold off sharply as the results showed otherwise - even triggering a market stop put in place to curtail volatility.

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INDIAN EQUITY MARKET OUTLOOK-24 JUNE 2016

Gap down opening seen for Sensex as Brexit fears loom

Indian Indices:

Markets are likely to open lower, amid weak Asian cues, after early counting on the EU referendum indicate that 'leave' votes are slightly more than 'remain'. SGX Nifty is trading at 186 points down.

Indian Markets reversed two sessions of losses to close higher on Thursday as poll booths opened for Britons to vote on a referendum about whether or not to exit the European Union. The S&P BSE Sensex and CNX Nifty rose 0.88%-0.81% each today.

On Thursday (June 23, 2016), BSE SENSEX closed at 27002.22, rose by 236.57 points, or by 0.88%, and the NSE Nifty ended at 8270.45, down by 66.75 points, or by 0.81%.

Global Market:

Bets in Asian markets quickly reversed course Friday, with stocks dropping as early results from the U.K. European Union referendum surprised investors and sent them rushing back to haven assets.

U.S. stocks closed higher Thursday, with all three indexes rallying, as investors wagered that the U.K. will choose to remain in the European Union in a historic referendum with far-reaching implications.

European shares rose for the fifth day running on Thursday, assisted by firmer banks and miners and expectations that Britain would vote to stay in the European Union.

Major Headlines of the day:

•Sun announces share buyback

•Impact' effect to fuel change at Tata Motors

•Tata sons ordered to pay NTT DoCoMo $1.2 billion in arbitration award for JV stake

Trend in FII flows: The FIIs were net buyers of Rs 81.87 Cr in the cash segment on Thursday while the DIIs were net buyers of Rs 203.56 Cr, as per the provisional figures.

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INDIAN EQUITY MARKET OUTLOOK-23 JUNE 2016

Indian Market Flat opening on the cards ahead of Brexit vote

Indian Indices:

Indian equity benchmarks are likely to open little changed as traders tread a cautious path ahead of the EU referendum today. SGX Nifty is trading at 2.50 points up.

Indian shares fell today, heading for their 2nd straight session of falls, a day ahead of the Brexit referendum, while Tata Motors declined on worries that its unit JLR would be hit if Britain leaves the European Union. The S&P BSE Sensex and CNX Nifty fell 0.18%-0.20% each.

On Wednesday (June 22, 2016), BSE SENSEX closed at 26765.65, down by 47.13 points, or by 0.18%, and the NSE Nifty ended at 8203.70, down by 16.20 points, or by 0.20%.

Global Market:

Asian shares edged up and sterling stood close to its peak for the year on Thursday, as investors were cautiously optimistic that British voters would opt to remain in the European Union at a referendum later in the session.

European shares rose on Wednesday, but ended off highs as results of a poll rekindled concerns that Britain may leave the European Union hours before voting in the country's membership referendum starts.

U.S. stocks finished slightly lower on Wednesday, as polls showed the outcome of a U.K. referendum on whether to leave the European Union remained too close to call a day ahead of the vote.

Major Headlines of the day:

•GAIL awards Rs 550-cr contracts for 'Urga Ganga' pipeline

•Ramco to set up wholly-owned subsidiary in Philippines

•MTNL to submit revival plan to DoT by August

Trend in FII flows: The FIIs were net sellers of Rs -41.1 Cr in the cash segment on Wednesday while the DIIs were net buyers of Rs 361.34 Cr, as per the provisional figures.

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INDIAN EQUITY MARKET OUTLOOK-21 JUNE 2016

Indian markets ong opening on D-street amid global rally.

Indian Indices:

Indian equity benchmarks are set to witness a positive opening on Tuesday tracking an advance in stock markets across Asia and a bullish finish at Wall Street overnight. SGX Nifty is trading at 0.50 points higher.

Indian rupee may continue to be weighed down by concerns over the impact of Raghuram Rajan’s exit as the RBI governor when his three-year term ends this September

Indian shares rose, tracking a rally in global markets after polls showed support for Britain staying in the European Union regaining momentum before this week's referendum, while software services exporters such as Infosys rallied after the rupee weakened. The S&P BSE Sensex and CNX Nifty rose 0.91-0.84% each.

Global Market:

Asian shares got off to a tentative start on Tuesday, as investors paused after a rally triggered by growing expectations that British voters will opt to remain in the European Union in this week's referendum.

U.S. stocks closed up Monday, but off their session highs, following the lead of European markets as polls showed support swinging back toward the U.K. remaining a member of the European Union ahead of a referendum.

European shares indexes posted their biggest rallies since August on Monday, led by heavyweight banking stocks, as weekend opinion polls boosted expectations that Britain would vote to stay in the European Union.

Major Headlines of the day:

• RCom-Aircel merger talks for another fortnight

• Mahindra's services arm aims 400 service outlets this financial year

• Apollo Hospitals to establish healthcare facility in China

Trend in FII flows: The FIIs were net buyers of Rs -537.47. Cr in the cash segment on Monday while the DIIs were net sellers of Rs 724.06Cr, as per the provisional figures.

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HDFC Life's IPO plan put on hold post-merger deal with Max

HDFC Standard Life has put on hold its IPO plan after announcing takeover of Max Financial Services , a listed company, and Max Life Insurance.

HDFC Standard Life today proposed to merge Max Life and Max Financial with itself.

As per the deal, there would be two schemes of amalgamation. First, Max Life will merge into Max Financial and then the merged entity would amalgamate into HDFC Life.

The company that would exist would be HDFC Life, which will automatically get listed on stock exchanges as it has merged a listed entity with itself.

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