Volatility Likely To Continue Due To Higher Inflation & OPEC Outcome

Market Halt 3-Day Winning Streak On Hawkish Fed, Nifty Hold 10,800

The Benchmark indices started on a weak note with Sensex fell 100 points & Nifty fell 35 points as US Federal Reserve hike rate. The equity market extended losses as Sensex fell over 200 points while Nifty below 10,800. Except Pharma all sectoral indices traded in red led by IT, banks, auto & metal while Nifty midcap index also fell over 50 points on weak market breadth

In afternoon session market continued to trade lower as Sensex was down 160 points while Nifty struggled below 10,800. Nifty pharma traded higher by 1.35% while all sectoral indices traded in red led by IT, banking & financials and metal. Nifty midcap index was also down by 0.21%.

In last hour of trade market off its day low as Sensex was down 100 points while Nifty back above 10,800. The market ended lower as investors looked cautious ahead of ECB policy decision. Nifty pharma rose 1.83% while all sectoral indices traded under pressure led by IT & banks. Nifty midcap closed in green. Sensex closed 139.34 points down at 35,599.82, Nifty down by 48.65 points at 10,808.05.

Top Gainers

Lupin by 3.57% to Rs.903, Sun Pharma by 2.44% to Rs.559.65, HCL Tech by 1.33% to Rs.936, Cipla by 1.32%to Rs.589.80, Yes Bank by 2.44% to Rs.336.50.

Top Losers

Tech Mahindra by -2.16% to Rs.698.40, Adani Ports by -2.15% to Rs.374.60, TCS by -2.15% to Rs.1,784.95, IBULHSGFIN by -2.14% to Rs.1,184.20, IOC by -2.06% to Rs.171.50.

Analysis Of Top Gainer And Loser

Lupin is the top gainer in today's market as company received USFDA approval for pregnancy prevention tablets. The said tablets are the generic equivalent of Bayer's Beyaz Tablets and indicated for use by women to prevent pregnancy.

Tech Mahindra is the top loser in today's market after labour union posted a release on its website claiming that 1,500 employees were laid off at Tech Mahindra, without due processes being followed.

Key Market News

Wholesale prices rose to their highest level in 14 months in May. WPI inflation in May rose 4.43% on higher fuel and power prices, according to data shared by Ministry of Commerce and Industry. The WPI was higher than the Bloomberg estimate of 4% and 3.18% in April. Core inflation at 4.4% versus 3.6% (MoM). Food inflation at 1.12% versus 0.67% (MoM). March inflation WPI revised to 2.74% from 2.47%. Fuel, power inflation at 11.22% versus 7.85 percent (MoM). Manufactured product inflation at 3.73% versus 3.11% (MoM).

Indias current account deficit widened in the fourth quarter of 2017-18 compared to a year ago on account of a higher trade gap. The current account deficit stood at $13 billion or 1.9% of GDP in the January-March 2018 period, showed data released by the Reserve Bank of India today. This is significantly higher than the current account deficit of 0.4% of GDP in the fourth quarter of 2016-17, but marginally lower than the gap of 2.1% of GDP in the preceding October-December 2017 quarter.

Stocks To Watch

Jubilant Industries Ltd. is on the upside while Mindtree Ltd. is on the downside.

Jubilant Industries is currently trading at Rs.200, up by Rs.31.25 or 18.52% from its previous closing of Rs.168.75 on the NSE. The scrip opened at Rs.176 & has touched a high & low of Rs.202.50 and Rs.175.80 respectively. So far 27,19,908 (NSE) shares were traded on the counter. The current market cap of the company is Rs.235.82 Crore. The NSE/BSE group stock has touched a 52 week high of Rs.291.90 on 14-July-2017 & a 52 week low of Rs.130.70 on 06-June-2018.

Mindtree is currently trading at Rs.994.05, down by Rs.34.70 or 3.37% from its previous closing of Rs.1,028.75 on the NSE. The scrip opened at Rs.1,020.05 & has touched a high and low of Rs.1,023.40 & Rs.985.10 respectively. So far 22,27,827 (NSE) shares were traded on the counter. The current market cap of the company is Rs.16,290.18 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.1,101.20 on 02-May-2018 and a 52 week low of Rs.439.05 on 08-september-2017.

The Market Ends At 4-Month's High; Nifty Near 10,850

The Benchmark indices started on a mildly higher note as Sensex was up 40 points & Nifty held the 10,800 mark. The equity market extended morning gains as Sensex rose 170 points while Nifty eyed 10,850. Except for realty & metal all sectoral indices traded in green led by pharma, banks & FMCG while Nifty midcap index also traded higher by half a percent.

In the afternoon session, the market remained strong as Sensex surged nearly 200 points while Nifty hovered around 10,850. Strong buying was seen in pharma, banking, FMCG & IT stocks while metal & realty remained under pressure. The Nifty midcap index traded at par with the frontliners, was up over half a per cent.

In last hour of trade, the market extended gains as Sensex rose over 200 points while Nifty traded near 10,850. The market ended at days high. Baring metal all sectoral indices ended in green led by PSU banks, pharma, FMCG & IT while midcap index also closed strong, was up by 0.85%. Sensex closed 209.05 points up at 35,692.52, Nifty up by 55.90 points at 10,842.85.

Top Gainers

Lupin by 6.38% to Rs.861.15, Dr. Reddy by 5.37% to Rs.2,195, SBIN by 3.65% to Rs.284.00, IndusInd Bank by 2.53% to Rs.1,953, HUL by 2.44% to Rs.1,640.40.

Top Losers

Bharti Airtel by -2.15% to Rs.380.45, Hindalco by -1.63% to Rs.240.70, Tata Steel by -1.54% to Rs.579.60, Eicher Motors by -1.50% to Rs.29,231.70, Coal India by -1.37% to Rs.283.95.

Analysis Of Top Gainer And Loser

Lupin is the top gainer in today's market as strong buying was seen in the stock. Pharma stocks have underperformed market last year.

Bharti Airtel is the top loser in today's market after merger talks between its Kenyan unit and Telkom Kenya fell through. Telkom Kenya is controlled by the London based Helios Investment and is mainly focused on Africa.

Key Market News

President Donald Trump and North Korean leader Kim Jong Un have signed a joint document in which they commit to working "toward complete denuclearization of the Korean Peninsula." The document signed by the leaders at the historic summit on Tuesday also says they will join efforts "to build a lasting and stable peace regime" in the Korean Peninsula. India also welcomes the United States - DPRK Summit held in Singapore. "This is a positive development. India has always supported all efforts to bring about peace and stability in the Korean Peninsula through dialogue and diplomacy," says the Ministry of External Affairs.

The Reserve Bank today issued draft guidelines on loan system for delivery of bank credit to improve discipline among larger borrowers enjoying working capital facility from the banking system. "In respect of borrowers having aggregate fund based working capital limit of Rs.150 crore and above from the banking system, a minimum level of loan component of 40 percent shall be effective from October 1, 2018," said the draft guidelines as RBI proposes to modify the system for delivery of bank credit for large borrowers.

Stocks To Watch

DCM Shriram Ltd. is on the upside while Manpasand Beverages Ltd. is on the downside.

DCM Shriram is currently trading at Rs.304.00, up by Rs.32.50 or 11.97% from its previous closing of Rs.271.50 on the NSE. The scrip opened at Rs.283.00 & has touched a high & low of Rs.308.80 and Rs.279.00 respectively. So far 27,19,203 (NSE) shares were traded on the counter. The current market cap of the company is Rs.5,041.80 Crore. The NSE/BSE group stock has touched a 52 week high of Rs.628.00 on 19-December-2017 & a 52 week low of Rs.237.00 on 15-May-2018.

Manpasand is currently trading at Rs.155.65, down by Rs.8.15 or 4.98% from its previous closing of Rs.163.80 on the NSE. The scrip opened at Rs.164.05 & has touched a high and low of Rs.165.95 & Rs.155.65 respectively. So far 12,79,730 (NSE) shares were traded on the counter. The current market cap of the company is Rs.1,778.75 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.512.00 on 15-September-2017 and a 52 week low of Rs.155.65 on 12-June-2018.

Market Closes In Green Ahead Of Inflation Data, Nifty Below 10,800

The Benchmark indices began the week on a good note as Sensex rose 50 points & Nifty near 10,800. The equity market witnessed good gains as Sensex rose over 150 points while Nifty above 10,800. The midcap index traded strong, was up almost a per cent on strong market breadth, while sectoral indices such as PSU banks, pharma, infra and energy were the biggest gainers.

In the afternoon session, the market continued to trade strongly as Sensex surged over 200 points while Nifty inched towards 10,850. All sectoral indices traded in green led by banks, pharma, FMCG & auto stocks while Nifty midcap index also traded in line with frontliners, was up 0.70%.

In last hour of trade, the market traded off days high as Sensex was up 100 points while Nifty slipped below 10,800. The market erased all its morning gains due to selling pressure. Except for metal & realty, all sectoral indices closed in green while midcap index closed ted lower due to profit booking. Sensex closed 39.80 points up at 35,483.47, Nifty up by 19.30 points at 10,786.95.

Top Gainers

Bharti Airtel by 3.17% to Rs.389.50, Bajaj Finance by 2.89% to Rs.2,250, Grasim by 1.89% to Rs.1,048, Ultratech cement by 1.85% to Rs.3,784, ZEEL by 1.40% to Rs.565.15.

Top Losers

Tata Steel by -2.26% to Rs.586.95, UPL by -2.09% to Rs.698.00, HCL Tech by -2.02% to Rs.909.95, PowerGrid by -1.14% to Rs.195.65, IOC by -1.09% to Rs.173.10.

Analysis Of Top Gainer And Loser

Bharti Airtel is the top gainer in today's market as companys revenue market share rose for the first time in 3 quarters rose 116 basis points to 29.1% in the quarter ended March.

Tata Steel is the top loser in today's market after Elliott Capital Management urged ThyssenKrupp AG to negotiate a better steel joint venture with Tata Steel Ltd. increasing pressure on the German companys management to deliver more favourable terms.

Key Market News

Indias retail inflation jumped further in May to a four-month high, primarily driven by a surge in energy prices, according to a Reuters poll of economists, suggesting more policy tightening from the central bank is coming. If that predicted pace is realised, May will be the seventh month in a row with inflation higher than the RBIs medium-term target of 4%. Poll forecasts for the data, due to be released on Tuesday 12 June at 5.30pm, ranged from 4.1% to 5.7%. The poll also showed the wholesale prices index likely hit a six-month high of 3.82% in May.

-April-May Passenger Vehicle Sales Up 13.3%: SIAM

-2-wheeler sales at 18.50 lakh Units versus 16.94 lakh Units (YoY)

-Domestic truck, bus sales at 76,478 units versus 53,457 units (YoY)

-Domestic passenger vehicle sales at 3.01 lakh units versus 2.52 lakh units (YoY)

-Passenger car sales at 1.99 lakh units versus 1.67 lakh units (YoY)

Stocks To Watch

Jai Corp Ltd. is on the upside while Gujarat State Petronet Ltd. is on the downside.

Jai Corp is currently trading at Rs.149.25, up by Rs.24.85 or 19.98% from its previous closing of Rs.124.40 on the NSE. The scrip opened at Rs.124.65 & has touched a high & low of Rs.149.25 and Rs.124.10 respectively. So far 1,14,34,422 (NSE) shares were traded on the counter. The current market cap of the company is Rs.2,636.59 Crore. The NSE/BSE group stock has touched a 52 week high of Rs.223.30 on 11-January-2018 & a 52 week low of Rs.68.25 on 11-August-2017.

GSPL is currently trading at Rs.182.50, down by Rs.8.10 or 4.25% from its previous closing of Rs.190.60 on the NSE. The scrip opened at Rs.187.70 & has touched a high and low of Rs.187.70 & Rs.182.30 respectively. So far 18,73,923 (NSE) shares were traded on the counter. The current market cap of the company is Rs.10,318.90 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.235.80 on 22-December-2017 and a 52 week low of Rs.154.75 on 10-July-2017.