Browse Category: commodity tips

Asia markets steady as investors keep an eye on China’s Party Congress

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The benchmark Nikkei 225 index was flat in early trade after posting gains for the 11th straight session on Tuesday. Most automakers recorded losses while tech stocks were mixed: Mitsubishi Motor was down 1.43 percent, Nissan slid 0.51 percent and SoftBank Group declined 0.32 percent.


Stocks in Asia were steady on Wednesday as investors in the region looked to China’s Party Congress for signs on future policy direction in the world’s second-largest economy.

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The benchmark Nikkei 225 index was flat in early trade after posting gains for the 11th straight session on Tuesday. Most automakers recorded losses while tech stocks were mixed: Mitsubishi Motor was down 1.43 percent, Nissan slid 0.51 percent and SoftBank Group declined 0.32 percent.

Across the Korean Strait, the Kospi tacked on 0.11 percent as retailers and automakers notched gains.

Down Under, the S&P/ASX 200 edged up 0.21 percent, with the utility sub-index leading gains and rising 1.39 percent. Telecommunications stocks traded lower.

Singapore and Malaysia markets are closed for a public holiday.

Markets kept an eye on developments in China as the country’s 19th Party Congress begins. Although past iterations of the meeting have proven opaque, investors will attempt to look for signs on how Beijing might tackle issues such as its debt problem and industrial overcapacity.


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Indian ADRs: HDFC Bank, Wipro, ICICI Bank down

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Indian ADRs ended mostly lower on Monday. ICICI Bank was down 0.70 percent and Infosys shed 0.61 percent.


Indian ADRs ended mostly lower on Monday. In the IT space, Infosys shed 0.61 percent at USD 14.62 and Wipro fell 1.62 percent to USD 5.46.

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In the banking space, ICICI Bank was down 0.70 percent at USD 8.51 and HDFC Bank declined 2.16 percent at USD 96.53.

In the other sectors, Tata Motors gained 1.49 percent at 33.28 and Dr. Reddy’s Laboratories was up 1.61 percent at USD 36.62.


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Rupee Opens higher by 9 paise at 64.93 against US Dollar

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The Indian Rupee gained 9 paise against the US Dollar in early trade on Wednesday.


The Indian Rupee gained 9 paise against the US Dollar in early trade on Wednesday.

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It has opened at 64.93 against the previous day’s closing value of 65.02 per Dollar.

The Rupee had fallen 28 paise on Tuesday and 64.80 coincides with resistance for the Rupee.

“Trading range for the spot USD-INR pair will be 64.80-65.20 per Dollar.”


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Nifty breaks 10,200, Sensex falls 100 pts; MAS Financial zooms 44%

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Axis Bank was the biggest loser after a sharp rise in slippages in Q2. The stock was down 6.5 percent.


10:00 am Listing: MAS Financial Services share price started off trade with a whopping premium of 44 percent on the National Stock Exchange.

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The stock has opened at Rs 660 against its issue price of Rs 459.

9:55 am Earnings Estimates: UltraTech Cement, which has Pan India presence, is expected to show a 38 percent decline year-on-year in standalone profit at Rs 370 crore but revenue from operations may grow 4 percent to Rs 6,380 crore.

According to an average of estimates of analysts, operating profit during the quarter is seen falling 2 percent to Rs 1,135 crore and margin may shrink around 100 basis points to 17.8 percent compared with same quarter last fiscal.

UltraTech numbers are not totally comparable due to the acquisition of Jaiprakash Group’s cement assets.

Analysts expect sales volumes growth of 11 percent at 12.4 million tonnes due to inorganic expansion, but Ultratech volumes are likely to be flattish.

9:50 am a Pre-opening trade: MAS Financial Services share price settled at Rs 660 in pre-opening trade on the National Stock Exchange, higher by 43.8 percent over its issue price of Rs 459.


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18th October- OPENING BELL >> Stock Market Today by Shailesh Saraf – 18th October 2017

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Last Day, Nifty traded in a very narrow range of 39 points by making a high of 10252 and a low of 10213 and finally closed at 10234. The Small Cap Index was up by 0.71% and closed at 8067.

The market is consolidating at higher levels, however, the trend is bullish and Emerging Market is also at highs. Thus we expect the market to go up.

From last 2 days, Fertilizer stocks are moving up. Yesterday, the sector was up by 1.40%.


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Auto firms likely to report muted Q2 earnings

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Automobile firms are expected to post muted earnings for the September-end quarter compared to a year ago. Higher input cost coupled with steep discounting is likely to weigh on the earnings and offset the gains the firms could have accrued because of strong volumes.

Prices of major commodities such as steel and aluminum rose by about 20% over the year-ago in Rupee terms during the quarter. High discounts were offered on segments such as medium and heavy commercial vehicles, and entry-level motorcycles and passenger vehicles, thus squeezing margins further. Feel Free to Subscribe our Indian stock market recommendations from here only!

Average estimates of five brokerage firms—QuantCapital Pvt. Ltd, Emkay Global Financial Services Ltd, Kotak Institutional Equities, HDFC Securities Institutional Research and IIFL Institutional Equities—indicated that companies such as Maruti Suzuki India Ltd, Mahindra & Mahindra Ltd, and Bajaj Auto may see strong volume and revenue growth but a profit decline. Conversely, Tata Motors Ltd, Hero MotoCorp Ltd, Ashok Leyland Ltd, Eicher Motors Ltd and TVS Motor Ltd may see an increase in both revenue and profits.

This quarter saw high demand on the back of an early festive season and strong rural demand due to higher government spending, near-normal monsoons and the receding impact of demonetization. The impact of goods and services tax (GST) was significantly felt in July and August as consumers advanced their purchases in anticipation of the cess in September. Sales of passenger vehicles rose 10.16% to 391,584 units, in the three months to September over a year ago, according to industry lobby Society of Indian Automobile Manufacturers (Siam).

Fuelled by best-selling models such as the Baleno compact car and Brezza compact SUV, passenger revenue at car market leader Maruti Suzuki is likely to advance to Rs22,046.2 crore but net profit at the firm is expected to decline by 7% to Rs2,229 crore due to the ramp-up of the Hansalpur plant in Gujarat, according to Emkay analysts.

Ashok Leyland, India’s second largest truck and bus maker, is expected to witness the highest growth in revenue, 33%, to a Rs6,157.5 crore, among auto companies. Profit is also expected to rise 32.7% to Rs384.8 crore due to a better product mix (higher share of in-demand heavy-duty trucks) and higher scale, thus offsetting cost pressures, wrote Raghunandhan N.L. and Bibhishan Jagtap of Emkay in a 6 October note.

A robust tractor sale is estimated to boost revenue at Mahindra and Mahindra Ltd by 20% to Rs12,180.1 crore for the quarter over a year ago, but weak SUV sales are likely to drag down the company’s net profit by 9.4% to Rs1,252.9 crore from a year ago. Mahindra expects to see better growth for its UVs in the second half of the fiscal with the launch of a multi-purpose vehicle, the U321, and fresh models of the KUV, Scorpio, and XUV, wrote Saurabh Kumar and Deepika Mundra of JP Morgan Securities in a 29 September note.

Driven by an improving performance of the domestic business and reduction in foreign exchange and hedging losses at the UK subsidiary, Jaguar Land Rover Automotive Plc., consolidated net profit at Tata Motors may zoom 37% to Rs1,119 crore while revenue is expected to be up 5% to Rs69,200 crore.

Among two-wheeler firms, market leader Hero MotoCorp is set to retain the pole position with a 12.3% year-on-year rise to Rs8,760.4 crore in revenues and 1.5% rise in profits to Rs1,019 crore on the back of higher scale and rural demand. An extensive distribution network and strong rural presence will majorly benefit the company in the next two years, according to Abhishek Jain and Sneha Prashant of HDFC Securities in an 11 October note.

Bajaj Auto Ltd, which will report its earnings on Tuesday, is expected to see a 5.2% decline in profitability for the fourth straight quarter but an overall rise of 6.6% in revenues. There was a contraction in sales volumes and profits in the domestic motorcycle segment but a rise in three-wheeler business and two-wheeler exports said Hitesh Goel and Nishit Jalan of Kotak Securities in a 4 October note.

Analysts expect margin to remain under pressure in the quarters ahead, owing to commodity prices. They expect strong demand in the second half of the fiscal on the back of increased capital spending by the government in the rural economy, increasing per capita income, growing urbanization, and falling interest costs, to boost earnings in the months ahead.


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Cement maker ACC`s September-quarter profit more than doubles

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Cement maker ACC Ltd’s  quarterly profit more than doubled, beating analysts’ expectations, helped by strong cement sales volume growth.

Profit rose to 1.82 billion Rupees ($28.0 million) in the third quarter ended Sept. 30, from 897.1 million rupees a year earlier.

Cement sales volume rose about 18 percent to 5.96 million tonnes in the quarter.

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Sales volume growth was aided by capacity stabilization of the Jamul plant in Chhattisgarh and the Sindri plant in Jharkhand, the company said on Tuesday.

Analysts on average had expected the company to post a profit of 1.66 billion Rupees.


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India likely to stick to deficit target, may step up bank reform

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India is likely to stick to its fiscal deficit target of 3.2 percent of GDP and may accelerate sales of government stakes in lenders and other companies as part of an effort to recapitalize banks, an adviser to the prime minister said on Tuesday.

Many policymakers in New Delhi, including the head of a government policy think tank, have suggested fiscal stimulus is needed to boost economic growth but the central bank has warned that missing the target could hit macroeconomic stability.

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Indian stocks slid last month on reports that a stimulus package worth up to 500 billion Rupees ($7.7 billion) might be in works – one that would widen the deficit to 3.7 percent of GDP.

Surjit Bhalla, a member of Prime Minister Narendra Modi’s Economic Advisory Council, told that, however, that the government has stuck to its fiscal deficit targets over the past three years and is expected to do so this year as well.

Growth slipped to its lowest level in three years in the first quarter, logging an annual rate of 5.7 percent, but Bhalla said there were signs of recovery in the economy.

GDP growth could be close to 6.5 percent for the fiscal year, he said, although that is lower than the government’s earlier estimate of about 7.3 percent.

“I am more optimistic about the economy than I was two weeks ago,” Bhalla said.

Bhalla’s comments, made during an interview at his home office in New Delhi, come amid concerns about a slowdown in the economy after a major tax reform and a shock move to ban high-denomination currency notes last November.

Modi formed the Economic Advisory Council last month to address “issues of macroeconomic importance” and present its views to the prime minister. The panel is headed by economist Bibek Debroy, a member of the federal think-tank Niti Aayog.

Bhalla said the council had made the recommendations on the fiscal deficit target and banking reform to Modi and Finance Minister Arun Jaitley.

($1 = 64.9050 rupees)


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Sensex turns negative, Nifty manages to hold 10,200

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Persistent Systems, Federal Bank, Delta Corp, Radico Khaitan, DHFL, Prime Focus, Aries Agro, Jaiprakash Power and Jaiprakash Associates gained up to 20 percent.


Maruti Suzuki Dzire sustained the 1st spot in the list of the most selling car in India in September 2017 with 34,305 units sold, this is also the highest ever sales of Dzire in a single month.

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Last month, Maruti Suzuki sold 30,934 units of Dzire. Introduced this May the 2017 Dzire is the third generation of Maruti Suzuki Dzire which used to have Swift Moniker before its name. At a base price tag of RS 5.45 lakh for the petrol variant, Maruti Suzuki already had 33,000 bookings for the new Dzire before the launch.

Overall Maruti Suzuki recorded 9.3% sales growth in September 2017 with 1.63 lakh units sold. The new Dzire played a major role for the company to get a big market share on sub-4 meter sedan market. Available in 14 variants, Dzire ranges from Rs 5.43 lakh up to Rs 9.39 lakh.

12:45 pm Market Check: Benchmark indices turned negative in the afternoon, but the Nifty still traded above 10,200-levels.

The Sensex was down 38.68 points at 32594.96, while the Nifty was down 5.00 points at 10225.90. The market breadth was narrow as 1,239 shares advanced against a decline of 1,152 shares, while 116 shares were unchanged.

Bharti Airtel, Indiabulls Housing, BPCL and Hero MotoCorp gained the most on both indices, while Tata Steel, HDFC Bank, and Religare Enterprises fell the most.

12:30 pm Buzzing stock: Share price of Colgate Palmolive has declined further on Tuesday on the back of poor numbers announced by the company on October 16 for the quarter ended September 2017.

The company has reported a fall of 2 percent in its September quarter net profit at Rs 177.6 crore against Rs 181.3 crore during the same period last year.

The company’s revenue, however, grew 2.7 percent at Rs 1,085 crore against Rs 1,056.6 crore during the same period in the previous year.


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Stocks in Asia rise as Dollar edges up; copper holds onto overnight gains

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South Korea’s benchmark Kospi index advanced 0.1 percent as steelmakers pared gains made in the last session. Tech stocks, however, were mostly higher: Samsung Electronics rose 1.67 percent and SK Hynix gained 1.78 percent.

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Stocks in Asia rose in early Tuesday trade as commodities held onto most overnight gains made on the back of better-than-expected China producer prices.

Japan’s Nikkei 225 was up 0.49 percent in early trade, continuing its upward trajectory after touching a fresh 21-year high in the last session. Automakers, financials and manufacturing names traded higher after the Dollar edged up against the yen.

Meanwhile, South Korea’s benchmark Kospi index advanced 0.1 percent as steelmakers pared gains made in the last session. Tech stocks, however, were mostly higher: Samsung Electronics rose 1.67 percent and SK Hynix gained 1.78 percent.

Down Under, the S&P/ASX 200 gained 0.6 percent, with the materials sub-index adding to overnight gains and climbing 0.92 percent. Major miners, banks and oil stocks notched gains early in the session.

Copper prices were steady after surging on Monday when China’s producer price index beat expectations. That metal cracked the USD 7,000 per ton level in the last session, reaching heights not seen since 2014. Copper last traded at USD 7,122.

Investors are expecting a “relatively positive backdrop” in the space ahead of China’s 19th Party Congress, which is set to begin October 18.

Also in the commodities patch, oil prices were stable after getting an overnight boost on headlines that Iraqi forces had captured parts of Kirkuk, an oil-rich city controlled by Kurdish forces. Brent crude futures were off 0.09 percent at USD 57.77 a barrel and US crude was 0.25 percent lower at USD 51.74.

Meanwhile, the greenback edged up against a basket of rival currencies overnight, with the Dollar index standing at 93.300 at 8:16 a.m. HK/SIN. The US currency also firmed against the Japanese Yen to trade at 112.22 — above levels around the 111.7 handle seen at the end of Asian trade on Monday.

In other currencies, the Euro slid for the fifth straight day following an election in Austria which put right-leaning People’s Party leader Sebastian Kurz on track to becoming the youngest leader in the world.

Catalan leader Carles Puigdemont’s failure to clarify Catalonia’s position on independence from Spain also likely weighed on the common currency, which traded at USD 1.1787 at 8:31 a.m. HK/SIN, its lowest level in around a week.

Stocks on Wall Street touched record highs on Monday as earnings season carried on. The Dow Jones tacked on 0.37 percent, or 85.24 points, to close at 22,956.96.

In corporate news, the falsification of product data at Japan’s Kobe Steel took place for longer than the 10-year period indicated by the steelmaker, Nikkei Asian Review said. The practice had actually occurred for decades at the company, Nikkei said, citing a source. Kobe Steel shares were last up 4.72 percent.

Elsewhere, Tencent Holdings Chairman Ma Huateng has sold part of his stake in the internet company, according to the Wall Street Journal. Ma raised approximately 2.1 billion Hong Kong Dollars (USD 269 million) after he lowered his stake in Tencent to 8.63 percent from 8.69 percent, the WSJ reported.

In economic news, minutes from the Reserve Bank of Australia showed policymakers were in no hurry to raise interest rates in the country just because other economies were doing so.


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