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Sensex, Nifty consolidate for 2nd day; FACT surges 17%

1:45 pm Market outlook: Indian equities have shown some signs of struggle recently, with the Nifty coming off a top of about 9,100 to nearly 8,650 in 15 days. The outlook for the medium term – from now till about October – looks clouded as “headwinds have been growing while tailwinds are reducing”, consulting editor Udayan Mukherjee said in an interview. The veteran anchor and financial journalist said that in the wake of earnings not picking up as much as earlier thought and with valuations continuing to remain slightly uncomfortable, the Nifty could stay in a 8,500-9,100 range in the medium term. “Given the run of play, for investors, it should be prudent to buy on sharp declines instead of chasing rallies,” he said. “Let attractive stock prices come to you instead you going to seek them.”

1:30 pm Buzzing: Shares of Hitachi Home and Siemens rallied 6.6 percent and 2.9 percent intraday on Tuesday (respectively) after signing memorandum of understanding (MoU) with Confederation of Indian Industry for setting up 100 smart cities.

Amitabh Kant said that while cities occupy only 3 percent of the total geographical area of the world, they contribute nearly 80 percent of GDP and 2/3rd of global emissions. According to hime, smart city initiative shall be driven by technology driven companies.

The much awaited Smart Cities project is likely to be rolled out next month as the extensive consultation process with all stakeholders has concluded.

Don't miss: Indian Hotels rises 3%; Taj Mansingh to be auctioned soon

The market consolidates for second day as the Sensex is up 87.93 points at 28525.64. The Nifty is up 27.35 points at 8660.50. About 1269 shares have advanced, 1297 shares declined, and 178 shares are unchanged.

Hindalco, Dr Reddy's Labs, Sesa Sterlite, Tata Motors and Tata Steel are top gainers in the Sensex. Among the losers are Bharti Airtel, Infosys, M&M, Tata Power and GAIL.

Fertilisers and Chemicals Travancore (FACT) jumps 17 percent on hopes of a revival plan by government.

US crude fell to near six-year lows in Asia, extending losses in New York as worries about a global oversupply were exacerbated by OPEC warning of a continued petroleum glut, analysts said.

US benchmark West Texas Intermediate (WTI) for April delivery was down eight cents to USD 43.80 in late morning trade, the lowest since March 2009. Brent crude for May, a new contract, rose 27 cents to USD 54.21. Both contracts fell sharply yesterday after a report by the OPEC oil cartel that questioned the strength of last month's rally, saying the increase came "despite the fact that global supply continued to exceed demand". More information please visit this site


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Nifty could slip towards 9,900; 3 stocks which could give up to 11% return

A close beyond 10,400 levels with healthy volumes can pause the current bearishness triggering a short covering to levels of 10,640-10,730.

The Nifty index Futures continued to slide lower for the second month in a row making it 10 percent decline from the record highs. Further, it has broken down from a broadening wedge pattern along with a close below the 200-DMA, affirming weakness dominant in the markets at the moment.

A sustained trade below 10,050 can accelerate the fall to levels of 9,930-9,700. However, a close beyond 10,400 levels with healthy volumes can pause the current bearishness triggering a short covering to levels of 10,640-10,730.

Moreover, the relative strength index or the RSI has turned down from the neutral levels of 50 on two occasions in recent pullbacks suggesting further weakness in the coming trading sessions.

Here is the list of stocks which can give up to 11 percent return:

Arvind Ltd: SELL| Target Rs345| Stop Loss Rs410| Return 11%

On the weekly chart, Arv…

Market Update: PSU bank index outperforms as PNB, Syndicate Bank jump 2-5%; JP Associates zooms 11%

The market breadth was in favour of the advances with 957 stocks advancing while 668 declined and 383 remained unchanged. On the other hand, in the BSE, 1176 stocks advanced and 888 declined and 108 remained unchanged.

The Indian markets on Friday morning were trading flat with the Nifty shedding 51 points or 0.49 percent  while the Sensex was down 178 points.

The Nifty PSU banking index was up 0.6 percent led by stocks like Syndicate Bank which jumped 5 percent followed by Allahabad Bank which gained over 3 percent. IDBI Bank and OBC were the other gainers. PNB gained 2.38 percent.

The top Nifty gainers included Mahindra & Mahindra and Aurobindo Pharma which were up 1.7 percent each followed by UPL, Yes Bank and Zee Entertainment.

The top Nifty losers included IOC and BPCL which fell 2 percent each followed by HPCL, Tata Motors and NTPC.

The most active Nifty stocks included IDBI bank which jumped over 3 percent while JP Associates zoomed over 10 percent after Rakesh Jhunjhunwala…

HDFC Sec retains sell on Bharti Infratel, reduces target to Rs 310 despite 22% fall in last 2 months

The share price has declined from a peak of Rs 480 to Rs 373 (22 percent) in last two months.

Bharti Infratel shares declined 1.5 percent to close at Rs 368 on Tuesday after HDFC Securities has reiterated its Sell rating on the stock with revised target price at Rs 310 (from Rs 387 per share) despite sharp fall in last two months. INDIAN STOCK TIPS

The share price has declined from a peak of Rs 480 to Rs 373 (22 percent) in last two months.

"Target price is based on 20x Dec-19E EPS (Rs 356) for business as usual (versus 24x earlier) less impact of Rs 60 per share from Vodafone-Idea merger (versus Rs 39 per share earlier) and likely acquisition of Vodafone-Idea stake in Indus at enterprise value of Rs 50 lakh per tower (+Rs 15 per share)," the research house said.

It further said the key reason for the de-rating is instant loss of tenancies on merger of Vodafone-Idea and impact of Reliance Communications and Aircel businesses’ scaling down.

This would push back Bharti Infrat…