All You Need To Know Going Into Trade This Thursday

Global equities were trading higher after U.S. Federal Reserve Chair Janet Yellen, hinted at a more gradual tapering programme at her testimony before the U.S. Congress. The SGX Nifty, was also trading higher, hinting at the possibility of a positive start for Indian equities.

Here’s all you need to know to be ready for trade on Thursday.

Global Cues

• U.S. markets ended at record highs after Fed chair Janet Yellen made a subtle change in her stance on inflation
• Dow Jones ended up 0.57 percent at record high of 21,532.14, S&P 500 was up 0.73 percent at 2,443.25, Nasdaq closed 1.10 percent higher at 6,261.17
• European markets ended higher after Yellen’s testimony
• The FTSE 100 closed 1.19 percent higher, The DAX was up 1.52 percent and CAC up 1.59 percent

Asian Cues

• Asian markets trading in the green, after a positive handover from U.S. markets
• Nikkei up 0.33 percent, Hang Seng is up 0.64 percent
• SGX Nifty hinting at a positive start, trading with gains of 0.47 percent

Commodity Cues

• WTI crude declined 0.3 percent to $45.35 a barrel, following a 1 percent gain in the previous session
• Spot gold little changed at $1,221.47 an ounce
• ICE Sugar at 13.49, up 0.37 percent

Indian ADRs

• ICICI Bank: Up 2.13 percent
• Tata Motors: Up 1.89 percent
• Wipro: Up 1.71 percent
• HDFC Bank: Up 1.63 percent
• Vedanta: Up 1.30 percent
• Infosys: Up 1.10 percent
• Dr Reddy’s Laboratories: Up 0.75 percent

Nifty Results Today

Tata Consultancy Services is likely to report another subdued quarter. Click HERE for a quick earnings preview.

Other Corporate Earnings

• Cyient
• Goa Carbon
• Grand Foundry
• Hatsun Agro Product
• Reliance Industrial Infrastructure

Stocks To Watch

• Banking stocks will be in focus due to weak industrial production and low inflation numbers
• Tata Motors Group global wholesales declined 2 percent to 90,966 units in June
• Adani Enterprises board will meet on Thursday
• Hatsun Agro inked a pact with a German-firm for greenfield plant
• Kirloskar Ferrous Industries shut down one mini blast furnace due to market conditions
• Thermax increased stake in FEPL Engineering to 76 percent from 54.6 percent earlier
• Air Odisha and Air Deccan are likely to start operations according to wire agency PTI
• SEBI examining whether the proposed merger between Idea Cellular and Vodafone India will trigger an open offer. The market regulator is also investigating if the stake hike by Pilani Investment and Industries Corp, an Aditya Birla Group Company, in Idea Cellular violated the insider trading rules, reports the Economic Times.
• Malvinder and Shivinder Singh seeking funds from lenders to repay Religare debt, according to The Mint
• Religare closing down institutional equity operations, reports the Economic Times

Corporate Action

• BPCL: Ex-date for 1:2 bonus. F&O lot size revised to 1800
• L&T: Ex-date for 1:2 bonus. F&O lot size revised to 750
• Goa Carbon: Circuit filter revised to 5 percent
• Grasim: Shares available for trading post amalgamation
• TTK Prestige: Buyback period opens today

Economic Data

• Industrial production in May slowed to 1.7 percent from 3.1 percent in April
• Consumer price inflation fell to a fresh low of 1.5 percent in June from 2.18 percent in May, adding pressure on the Reserve Bank of India to cut the repo rate

Bulk Deals

• Kridhan Infra: Promoter Anil Agrawal sold 31.7 lakh shares worth Rs 24 crore
• Sintex Industries: Morgan Stanley bought 35.7 lakh shares worth Rs 10 crore
• Minda Industries: Promoters bought 3.8 lakh shares from Viney Prakash, who held 10.3 lakh shares as of March

Top Performers On NSE 500 This Month

• Shilpi Cable: Up 47.1 percent
• Videocon: Up 46.9 percent
• Caplin Point: Up 36.7 percent
• HFCL: Up 23.5 percent
• Future Consumer: Up 23.3 percent

Worst Performers On NSE 500 This Month

• Religare Enterprises: Down 39.6 percent
• JMT Auto: Down 23.2 percent
• GVK Power: Down 11 percent
• Nitin Fire: Down 10.6 percent
• Ahluwalia: Down 8.8 percent

Futures & Options

• Nifty spot and futures closed above the 9,800 level for first time ever
• Nifty moved up on Wednesday due to high open interest addition of 6.8 lakh shares
• Call writers are shedding positions and shifting them to 9,900 and above
• Over 8 lakh shares were added on the 9,700 level, and puts on the same indicated aggression by bulls
• The 9,800 level could see more resistance in a market controlled by bulls

F&O Ban

• Ujjivan Financial Services was moved out of the ban list
• The stocks in the ban list include HDIL, Indiabulls Realty, JP Associates and JSW Energy
• No fresh positions can be taken in F&O ban stocks

Put-Call Ratio

• Nifty Put-Call ratio moved to 1.40 from 1.37
• Nifty Bank PCR ratio rose to 1.40 from 1.19
• A higher PCR indicates a bullish trend

Stocks Seeing High Open Interest Change

• PTC saw open interest addition of 26 percent on the long side
• Biocon saw open interest addition of 20 percent on the long side
• LIC Housing Finance saw open interest addition of 14 percent on the long side
• Adani Enterprises saw open interest addition of 12 percent on the long side
• Voltas saw open interest shedding of 8 percent due to short covering

Fund Flows

• Foreign Institutional Investors net bought Rs 361 crore in the cash market as per NSE provisional data
• Domestic Institutional Investors net sold Rs 331 crore in the cash market as per NSE data
• FIIs net bought Rs 161 crore in cash market on Tuesday as per NSDL data
• FIIs net sold Rs 1185 crore in F&O markets Wednesday as per NSE data
• DIIs turned sellers after 10 days of buying while FIIs were net buyers for the third straight day
• FIIs have net sold Rs 1060 crore in the cash market this month

Index Play

• Nifty Pharma Index is the only index with losses in this calendar year, while Nifty IT Index trades flat
• Nifty Energy became the best performing monthly sectoral index with gains of over 6 percent
• All sectoral indices are trading with positive bias this month

Brokerage Radar

• ICICI Direct upgraded Tata Global to a Buy rating and raised its target price to Rs 195 from Rs 147
• CLSA on ONGC-HPCL deal: Negative for minority shareholders
• Citi raises ITC’s target price to Rs 380 from Rs 355, maintains ‘buy’ rating
• Credit Suisse maintains 'outperform' on L&T with a target price of Rs 2,060
• HSBC raises target price on Tata Steel Rs 750 from Rs 540, Upside of 34.7 percent