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LKP Securities

Published on 20/01/2021 9:10:39 AM

Opening Bell

Markets likely to get cautious start on Wednesday

Indian markets ended higher on Tuesday, with key benchmark indexes climbing around 2 percent, as optimism about China's economy and hopes for further global stimulus helped spur buying across the board. Today, the markets are likely to make cautious start tracking mixed Asian cues. There will be some cautiousness as India recorded 13,700 fresh cases of the coronavirus disease (Covid-19). The total number of active cases in the country has fallen below 200,000, while the caseload tally stands at 10,596,442. Globally, 96.6 million people have been infected by the virus. The country continues to be second-most-affected globally, and ranks 13th among worst-hit nations by active cases, according to data from Worldometer. however, some support may come later in the day with a private report that the ongoing key reforms such as sops for manufacturing, easier labour laws, wooing FDI inflows and privatisation will help improve productivity and support long-term growth at 7.5-8 per cent levels, which if played out well, can help India contribute 15 per cent of global GDP growth by FY2026. Also, Investment through participatory notes (P-notes) in the domestic capital market rose to a 31-month high of Rs 87,132 crore at December-end, reflecting the bullish stance of FPIs. Traders may take note of Niti Aayog CEO Amitabh Kan’s statement that India must remain an integral part of the global economy if it has to grow at 9-10 per cent over the next three decades. Meanwhile, In the primary market, the three-day initial public offering of Indigo Paints will open for public subscription today. The price band has been fixed at Rs 1,488-1,490 per share for the initial share sale. Angel Broking has recommended 'subscribe' to the issue owing to the company's track record of consistent growth, differentiated products, and leveraged brand equity and distribution network.

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LKP Securities

Published on 20/01/2021 9:01:19 AM

Index closed a day on positive note after two consecutive red sessions at 14521 with gains of nearly two percent. Index managed to give a decisive break above 14500 zone which shows a good strength and going forward immediate support for nifty is formed at 14500 followed by 14400 zone holding above said levels bullish momentum will be intact, resistance is coming near 14580-14650 zone. Nifty bank closed a day at 32425 with gains of nearly two percent, support for nifty bank is coming near 32200-32000 zone and resistance is coming near 32700-33000 zone.

LKP Securities

Published on 19/01/2021 2:04:08 PM

Market Midday Review

Equity parameters continue to trade in high spirit

Indian equity parameters continued to trade in high spirit in afternoon session, on account of broad based buying in blue chip counters amid positive Asian cues. All sectoral indices were trading firm and realty was the top gainer on BSE, up by over 4% followed by capital goods and industrials indices, trading up over 2% each. Apart from blue chips, broader indices too equally participated in the rally with both mid and small cap indices trading up by over 1.50% each. Sentiments were upbeat with ICRA’s latest report stating that the economic activity recorded a broad-based improvement in December as against November, showing a return of demand. It said most of the indicators have displayed a year-on-year (y-o-y) expansion in December 2020, which signals a ‘tentative return to pre-COVID normalcy’. Traders were also energized as Reserve Bank of India (RBI) is likely to spend at least $20 billion more to support the rupee and increase the forex kitty through the reminder of the financial year, taking its overall forex intervention to $93 billion.

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LKP Securities

Published on 19/01/2021 9:28:42 AM

Market Opening Bell

Markets likely to get positive start on Tuesday

India markets ended lower on Monday dragged by heavy selling across the board. Today, the markets are likely to make positive start tracking gains in Asian peers. Traders will be taking encouragement with Icra’s report stating that economic activity recorded a broad-based improvement in December as against November, showing a return of demand. Icra said most of the indicators have displayed a year-on-year (y-o-y) expansion in December 2020, which signals a tentative return to pre-COVID normalcy.

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LKP Securities

Published on 19/01/2021 9:10:19 AM

Index closed a day at 14281 with loss of more than one percent and formed a bearish candle for second consecutive day. Index has support near 14220-14150 zone and good resistance is formed near 14380-14450 zone one can book profit around resistance, immediate trend will turn bullish again once nifty managed to hold above 14500 zone. Nifty bank closed a day at 31812 with loss of nearly 1.5% and formed a bearish candle, support for nifty bank is coming near 31600-31400 zone and resistance is coming near 32000-32200 zone.

LKP Securities

Published on 18/01/2021 1:58:19 PM

MIDDAY REVIEW

Sluggish trend continues on street

Indian equity benchmarks continued to show a sluggish trend in afternoon session, with Sensex and Nifty trading below their psychological levels of 48,700 and 14,350, respectively. The sentiments were under pressure with former chief economic adviser Arvind Virmani statement that the Indian economy is likely to contract in the range of 5-7.5 per cent this fiscal (FY21) but will see a growth of 9 to 11 per cent in FY 2021-22. Further, Virmani said in the upcoming Budget, the government should come up with policies to accelerate India's economic growth. Meanwhile, finance ministry is looking at other avenues for affordable capital infusion, including setting up of a Bank Investment Company (BIC), as the RBI has raised concern over the issuance of zero coupon bonds for recapitalisation of public sector banks (PSBs).

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LKP Securities

Published on 18/01/2021 9:17:47 AM

Markets likely to get weak start amid global sell-off

Indian markets ended over a percent lower on Friday as major selling was seen in all sectors during the day. Today, the start of new week is likely to be weak amid sell-off in global markets. There will be some cautiousness as India registered 13,962 fresh Covid-19 cases in the last 24 hours, taking the tally to 10,572,672. Globally, more than 95.4 million people have been infected by the virus. Investors will keep tracking latest developments and trends on the COVID-19 pandemic front, especially the vaccine rollout in the country that kicked off on January 16 in the country and for signs of any adverse reactions from the vaccine. However, some respite may come later in the day with the government data showing that India's exports rose marginally to $27.15 billion in December 2020, while imports surged 7.56 per cent to $42.59 billion.

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LKP Securities

Published on 18/01/2021 9:03:12 AM

Index closed a week at 4434 with gains of nearly one percent and formed doji candle on weekly chart suggesting indecision in the market. Good support for index is coming near 14380-14300 zone any break below said level may see more cuts in index towards 14200 zone, resistance is coming near 14500-14550 zone. Nifty bank closed a week at 32247 with gains of nearly one percent, support for nifty bank is coming near 32000-31800 zone and resistance is coming near 32450-32600 zone.

LKP Securities

Published on 15/01/2021 1:19:58 PM

Market Midday Review

Indian equities continue lackadaisical trade

Indian bourses continued to show a sluggish trend and were trading with cut of over half a percent each in afternoon session as selling appeared in IT, consumer discretionary and auto stocks. Sensex and Nifty tumbled by 316 and 94 points, respectively. Traders took note of rating agency CRISIL’s report which projected CPI Inflation at 6.4% for fiscal 2021 (FY21). It mentioned that after eight months above the Reserve Bank of India (RBI's) target band of 2-6%, Consumer Price Index (CPI) inflation was finally back in range, declining for the second straight month to a below-consensus 4.6% in December, from 6.9% in November. Average CPI inflation during April-December now measures 6.6%, down from the April-November average of 6.9%. 

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LKP Securities

Published on 15/01/2021 9:12:23 AM

Market Opening Bell

Markets likely to make flat-to-negative start

Indian markets ended at a record close on Thursday as IT stocks trimmed some losses after falling in early deals despite robust results of Wipro and Infosys. Today, the markets are likely to make flat-to-negative start tracking a dip in Wall Street overnight and a rise in oil prices. There will be some cautiousness as rating agency CRISIL projected CPI Inflation at 6.4% for fiscal 2021. it said after eight months above the Reserve Bank of India (RBI's) target band of 2-6%, Consumer Price Index (CPI) inflation was finally back in range, declining for the second straight month to a below-consensus 4.6% in December, from 6.9% in November.

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