All You Need To Know Going Into Trade On March 6

Asian stocks rallied, following gains in U.S. equities and the dollar, as concern eased on President Donald Trump's proposed tariffs.

The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index's performance in India, rose 0.6 percent to 10,423 as of 7:10 a.m.

Short on time? Well, then listen to this podcast for a quick summary of the article!

DayBreak

Here's a quick look at all that could influence equities on Tuesday.

Global Cues

• U.S. stocks rose with the dollar, while Treasuries fell as signs mounted that President Donald Trump's tough tariff talk may not translate into the most severe protectionist policies.
• Ten-year Treasury yields advanced toward 2.90 percent, while the greenback rose against most peers with the Canadian dollar leading declines.

#BQMarketsNow | Stocks rise on speculation trade threat is easing.https://t.co/EHwJf2AfyQ pic.twitter.com/b5T6SyfMYn

March 6, 2018

Europe Check

• European stocks rebounded from a one-year low as technology firms rallied the most in 19 months.

Asian Cues

• Japan's Topix was up 1.8 percent and the Nikkei 225 Stock Average climbed 2.1 percent.
• Australia's S&P/ASX 200 Index added 1.3 percent.
• South Korea's Kospi index advanced 1.1 percent.
• Futures on Hong Kong's Hang Seng Index rose 1.2 percent.
• Contracts on the S&P 500 Index gained less than 0.05 percent.

Here are some key events coming up this week:

• The Chinese People's Political Consultative Conference runs through March 15 and overlaps with the National People's Congress meetings in Beijing, through March 20.
• Reserve Bank of Australia monetary policy decision on Tuesday, with GDP data due Wednesday.
• The ECB isn't expected to change policy on Thursday, but the Governing Council may discuss a change to pave the way for the end of quantitative easing.
• BOJ monetary policy decision and briefing on Friday.
• U.S. monthly payrolls data.

Nikkei snaps 4-day losing streak.https://t.co/EHwJf2AfyQ pic.twitter.com/sE8UizqRcH

March 6, 2018

Commodity Cues

• West Texas Intermediate crude rose 0.2 percent to $62.67 a barrel after advancing 2.2 percent Monday.
• Gold was steady at $1,322.05 an ounce.

Indian ADRs

Stocks To Watch

• Bank of Baroda leaves MCLR unchanged for March.
• RBI imposes Rs 3 crore penalty on Axis Bank and Rs 2 crore penalty on Indian Overseas Bank for non-compliance of NPA classification norms.
• SBI Hong Kong confirms it has no exposure in PNB fraud case.
• HDFC QIP closes today. It has issued 1.03 crore equity shares at Rs 1,825 per share.
• Ramco Cements to acquire clinker grinding unit from Ramco Industries for Rs 17 crore.
• IndusInd Bank invoked 4.3 percent Jaypee Infra stake pledged by Jaiprakash Associates.
• Global Offshore defaults on unsecured demand loan from Axis Bank. The principal amount of Rs 11.26 crore plus interest is outstanding.
• Somany Ceramics board approved plan to merge three units of promoter group with itself.
• Arman Financial to raise Rs 50 crore through issue of 16.66 lakh compulsory convertible debentures at Rs 300 each to Saif Partners India.
• JSW Energy acquires JSW Electric Vehicles.
• Wanbury says U.S. FDA completes inspection of API facility with five observations.

U.S. FDA Form 483 observations regarding Sun Pharmaceutical's Halol Plant.https://t.co/jxMLzaXeH4 pic.twitter.com/pRiODzacAn

March 6, 2018

Bulk Deals

• Fortis Healthcare: BNP Paribas Arbitrage bought 37.5 lakh shares or 0.7 percent equity at Rs 155.28 each.
• Punjab Alkalies & Chemicals: IDBI Bank sold 3.12 lakh shares or 1.2 percent equity at Rs 27.9 each.

BSE

• IDFC Imperial Equity Fund bought 6.54 lakh shares or 1.2 percent equity at Rs 799.99 each.
• IDFC Sterling Equity Fund bought 4 lakh shares or 0.7 percent equity at Rs 799.99 each.
• Nomura Asset Management sold 13.89 lakh shares or 2.6 percent equity at Rs 799.99 each.

IndusInd Bank has invoked 6 crore pledged shares of the crisis-hit Jaypee Infratech.https://t.co/DzdvQ2hbkR pic.twitter.com/W0fUJoHGVY

March 5, 2018

Corporate Actions

• KPR Mill ex-date for determining buyback eligibility.
• MOIL and Unichem Labs last trading day before start of buyback period.

Who's Meeting Whom

• Shriram Transport Finance to meet Evenstar Capital on March 6.
• Purvankara to meet several fund houses including GMO, Fidelity, SBI MF and BNP Paribas on March 6.
• KDDL will be meeting investors/analysts on March 6.
• TCI express to meet several fund houses including White Oak Capital, MetLife, Bharti Axa Life Insurance on March 6–7.
• Cummins India to meet several fund houses including Axis MF, Jefferies India, JM Financial from March 6–13.
• PI Industries to meet Darkhorse Capital Fund on March 6.
• Container Corp to meet UK based fund, Alquity on March 7.
• Tata Steel to meet Blackrock International and TIA CREF Investment Management on March 7 and 12.

Airtel, Idea approach TDSAT against TRAI's predatory pricing norms.https://t.co/0QRu1cObda pic.twitter.com/1DlWZJqEJ1

March 5, 2018

Insider Trades

• UPL Ltd promoter Shilpa P Sagar sold 46,000 shares from Feb. 28–March 1.
• L&T Infotech promoter L&T sold 1 lakh shares on March 1.

Rupee

• Rupee closed at 65.11/$ on Monday from 65.17/$ on Thursday.

Top Gainers And Losers

Index Trends

F&O Cues

• Nifty March futures closed trading at 10,365.6, premium of 7.6 points versus discount of 1.4 points.
• All series: Nifty open interest up 3 percent, Bank Nifty open interest unchanged
• India VIX ended at 15.3, up 9.4 percent.
• Max open interest for March series at 10,700 call strike (Open interest at 53.2 lakh, up 22 percent).
• Max open interest for March series at 10,400 Put (Open interest at 35.4 lakh, down 4 percent).

RBI to inject additional liquidity of Rs 1 lakh crore in March.https://t.co/hTMb7wQZSo pic.twitter.com/zhPFefpPmi

March 5, 2018

F&O Ban

• In ban: Fortis Healthcare, HDIL, IDBI, Oriental Bank.
• No new stocks in or out of ban.

Only intraday positions can be taken in stocks which are in F&O ban. There is a penalty in case of rollover of these intraday positions.

Put-Call Ratio

• Nifty PCR at 1.21 from 1.28
• Nifty Bank PCR at 0.85 from 0.91

Stocks Seeing High Open Interest Change

Fund Flows

Brokerage Radar

HSBC on Godrej Properties

• Maintained ‘Buy'; raised price target to Rs 825 from Rs 750.
• Portfolio additions remain strong.
• Sales momentum doubles over previous year.
• Project additions much faster than sales.
• Room for significant sales growth still remains.

JP Morgan on BEL

• Initiated ‘Overweight' with price target of Rs 185
• BEL's growth supported by growing capital outlay on defense, focus on import substitution and modernization.
• Sizable nondefense & export opportunity to augment future growth.
• Order backlog of Rs 40,500 crore is 3.8 times trailing one-year sales.
• Valuation highly correlated with order inflows.
• Two big-ticket orders of Rs 6,000 crore each are close to award.
• Expect revenue, operating income and net profit to compound at 13 percent, 15 percent and 17 percent respectively over the fiscal 2018-2020.
• Share buybacks to drive improvement in return on equity and cash yield.
• BEL has superior organic growth prospects, higher margin profile and scope for further return on equity expansion.

Credit Suisse on Sun Pharma

• Maintained ‘Outperform' with price target of Rs 640.
• Halol observations not very serious.
• Clearance may not require a re-inspection.
• Still take 4-6 months for clearance of warning letter.
• Of the three, two observations are procedural in nature.
• Cut earnings per share for the next two fiscals by 8 percent and 2 percent respectively to factor Halol clearance by September.

India solar goal has a secret weapon.https://t.co/mUBRyngNTk pic.twitter.com/aTlbJyO0wZ

March 6, 2018

Share

• Twitter
• WhatsApp
• Facebook
• Reddit
• Email