Nifty 8793/Sensex 28334/ Bank Nifty 20213
26 Advances / 25 Declines/ 0 Unchanged
Indian benchmarks end flat ahead of IIP numbers
Indian benchmark indices ended the range bound day of trade on a flat note with positive bias as market participants remained cautious ahead of IIP numbers for December, which released later in the evening. India's industrial production fell by 0.4 percent year-on-year in December 2016, following a downwardly revised 5.6 percent growth in the previous month, as manufacturing output shrank by 2 percent (from 5.5 percent in November).Sentiments got some support with the report that Government's revenue collection from indirect tax grew by an impressive 23.9% during the April-January period, while that from direct tax rose by 10.79%.
Total direct and indirect tax collections at the end of January stood at Rs 12.85 lakh crore, 76% of the Rs 16.99 lakh crore target, according to revised estimate for 2016-17. Besides, better-than-expected earnings by some companies also fuelled the positive sentiment.
State Bank of India, the nation’s biggest lender, reported 70.88% jump in its consolidated net profit at Rs 2152.23 crore for the quarter ended December 31, 2016, as compared to Rs 1259.49 crore for the same quarter in the previous year. Also, Edelweiss Financial Services reported 46.87% rise in its consolidated net profit at Rs 155.18 crore for the quarter ended December 31, 2016, as compared to Rs 105.66 crore for the same quarter in the previous year.
Meanwhile, Investors around the world turned bullish after US President Donald Trump promised to unveil a major tax announcement to lower the burden on businesses. Some support also came with the Labour Minister Bandaru Dattatreya’s conformation that the government was examining a proposal to let the Employees' Provident Fund Organisation (EPFO) invest 15% of its corpus via exchange-traded funds compared with 10% at present. The issue would be taken up in the next meeting of the Central Board of Trustees (CBT) of the fund. However, gains remained capped as Finance Minister Arun Jaitley warned that economies will become more inefficient and GDP will shrink if protectionist trend emerges in developed economies.
On the global front, Asian markets ended mostly in green on Friday, as investors cheered upbeat Chinese trade data and strong gains on Wall Street after US President Donald Trump promised to unveil a major tax announcement to lower the burden on businesses.
Higher crude oil prices also boosted investors’ sentiments. Further, the Japanese market ended higher as the yen weakened against the dollar, lifting shares of exporters. Investors are awaiting the outcome of Japanese Prime Minister Shinzo Abe’s meetings with Trump on Friday and the weekend. Meanwhile, European stocks rose in early trade, gaining ground for a fourth consecutive session, helped by a raft of positive corporate results.
Back home, after getting positive start, the local benchmark indices traded in tight range for most part of the session and ended with moderate gains.
FII Activity (10th Feb 2017)
The FIIs as per Friday’s data were net buyers in equity and debt segments both, according to data released by the NSDL.
In equity segment, the gross buying was of Rs 4964.41 crore against gross selling of Rs 4365.34 crore. Thus, FIIs stood as net buyers of Rs 599.07 crore in equities.
In the debt segment, the gross purchase was of Rs 1168.22 crore with gross sales of Rs 1064.31 crore. Thus, FIIs stood as net buyers of Rs 103.91 crore in debt.
Key Results
Adani Transmission Ltd
AIA Engineering Ltd
Allahabad Bank
Allcargo Logistics Ltd
Bajaj Hindusthan Sugar Ltd
Balmer Lawrie & Company Ltd
BEML Ltd
Britannia Industries Ltd
Container Corporation Of India Ltd
DCM Shriram Ltd
Dishman Pharmaceuticals and Chemicals Ltd
Dynamatic Technologies Ltd
Entertainment Network (India) Ltd
GlaxoSmithkline Consumer Healthcare Ltd
GMR Infrastructure Ltd
Hindalco Industries Ltd
Hindustan Petroleum Corporation Ltd
Infibeam Incorporation Ltd
Jindal Poly Films Ltd
MMTC Ltd
Motherson Sumi Systems Ltd
Muthoot Finance Ltd
National Aluminium Company Ltd
NBCC (India) Ltd
NMDC Ltd
Petronet LNG Ltd
Piramal Enterprises Ltd
Power Finance Corporation Ltd
Prestige Estates Projects Ltd
PTC India Financial Services Ltd
Reliance Infrastructure Ltd
Repco Home Finance Ltd
Sadbhav Engineering Ltd
SJVN Ltd
SKF India Ltd
Sunteck Realty Ltd
Tata Investment Corporation Ltd
Yamini Investment Company Ltd
Now what to expect next??
Nifty Future Levels
Support 8720 and resistance at 8850.
Trading in range, either side breakout with volume will decide further.
Wait for confirmation
Bank Nifty Future Levels
Support at 19900 and resistance at 20650.
Trend looks positive and could touch its resistance level of 20650, further upside rally will see on close above 20650 else could touch its support level of 19900
Looks weak only below 19900
Today's Top Pick
Concor
Support at 1280 and Resistance at 1330.
Break and sustain above 1330 will take it to 1360--1390 and then to 1425+ mark in days to come else could touch its support level of 1280 again.
Fresh downside move will see only close below 1280 mark.
More will update soon!!
