Nifty 8693 /Sensex 28077/ Bank Nifty 19710
27 Advances / 24 Declines/ 0 Unchanged
Sensex, Nifty end lower amid volatility; metals weak, Wipro up 1%”
The markets fell in early trade but made a significant recovery post noon. However, poor results, especially by cement major ACC saw the markets slip in last hour. The Sensex closed down 52.66 points or 0.2 percent at 28077.18 and the Nifty slipped 6.35 points at 8693.05. About 1458 shares advanced, 1320 shares declined, and 246 shares were unchanged.
Dr Reddy's, HUL, TCS, HDFC Bank and GAIL were top gainers while Axis Bank, Reliance , Cipla , HDFC and Asian Paints were losers in the Sensex.
Our Recommendations
Our Subscribers booked profit in Nifty futures around 8710 and it was asked to buy around 8675—8660.
Factors affecting the market this week
1. October F&O expiry: The stock market is expected to remain volatile ahead of the expiry of October series F&O contracts, as traders roll over their derivative positions to the November series. The October series derivatives contracts will expire on Thursday, October 27.
2. A majority of the banks such as HDFC BankBSE 1.19 %, Axis BankBSE -2.26 %, Kotak MahindraBSE 1.22 % Bank, Syndicate Banks, Canara BankBSE -0.64 %, IDBI BankBSE 3.80 % and ICICI Prudential Life Insurance have scheduled their quarterly earnings for the week. Apart from banks, Hero MotoCorp, ITCBSE 0.23 %, HDFC and GlenmarkBSE 0.33 % will also remain in focus.
3. PNB Housing Finance IPO: The Rs 3,000 crore initial public offering of PNB Housing Finance will hit the market on Tuesday, October 25. It will be the second largest issue of calendar 2016.
4. Muhurat trading: The NSE and the BSE are set to conduct Muhurat trading on Diwali, October 30, 2106, Sunday. The hour-long session will be held between 6:30 pm and 7:30 pm.
FII’s Vs DII’s Activity of Previous Week
Last 5
Days of FII & DII ( Provisional Figures) v/s Nifty Data:
|
Date
|
FII (INR Crore)
|
DII (INR Crore)
|
NIFTY
|
||||
|
Gross Purchase
|
Gross Sales
|
Net Purchases/Sales
|
Gross Purchase
|
Gross Sales
|
Net Purchases/Sales
|
||
|
20-Oct-2016
|
2751
|
2744
|
7.3
|
2480.7
|
1897.48
|
583.22
|
8699.4
|
|
19-Oct-2016
|
4218
|
4501
|
-282.77
|
2711.43
|
1986.79
|
724.64
|
8659.1
|
|
18-Oct-2016
|
5626
|
5281
|
345.04
|
2323.82
|
2150.46
|
173.36
|
8677.9
|
|
17-Oct-2016
|
4487
|
4943
|
-456.64
|
2404.48
|
2168.91
|
235.57
|
8520.4
|
|
14-Oct-2016
|
3983
|
4929
|
-946.42
|
2837.8
|
2837.8
|
0.0
|
8583.4
|
Key Results Awaited Today
ADANIENT
ADANIENT
AXISBANK
BIRLAMONEY
GREENPLY
IBREALEST
IDEA
INFRATEL
RALLIS
RELCAPITAL
Important Result 24th October: Axis Bank
Axis Bank Q2 profit seen down 2%; loan growth may be 18-19%
Country's third largest private sector lender Axis Bank is expected to report a 2.3 percent degrowth in second quarter profit at Rs 1,933.4 crore compared with year-ago period, according to analysts polled by CNBC-TV18.
Provisions will be closely watched for profit growth. Net interest income, the difference between interest earned and interest expended, may increase 13 percent year-on-year to Rs 4,582.4 crore on strong loan growth that is expected to be around 18-19 percent in Q2.
Key things to watch out for would be asset quality movement, slippages from watchlist and net interest margin. Total amount of loans under watchlist were Rs 22,857 crore (6.6 percent of the loan book) and slippages from watchlist were Rs 2,680 crore in Q1. Analysts say if gross non-performing assets fall below 2.75 percent (it was at 2.54 percent in Q1), net interest margin at or above 3.8 percent (3.79 percent in Q1) then that will be positive.
Technical Levels of Axis Bank
Axis Bank has support at 520, below this it can test 500. It will be further positionally weak on close below 500 mark. Hurdle is intact at 535. Above this it can test 560---570 levels. More strength can be seen on close above 570 level.
Nifty Future levels for today
Nifty has support at 8640 and resistance is at 8730 level.
Above 8730 it can test 8780---8850 levels else it could test its support level of 8640 again.
Close below 8640 will take Nifty future to 8580---8530 and then to 8480 mark. Its positionally weak on close below 8450 level only.
Today's Top Pick
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