Strong Global Markets; IIP Growth; Infosys' Strong Q3 Performance, IDFC Merger & Other Top Cues to Sway the Market Today

Mon, 15 Jan Pre-Open

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Indian share markets continued to surge in the previous session and closed at record highs amid gains in international markets, continuous foreign fund inflows and positive corporate earnings outlook.

At the closing bell last week, the BSE Sensex stood higher by 89 points (up 0.3%) and the NSE Nifty closed higher by 30 points (up 0.3%). The BSE Mid Cap index ended the day down by 0.2%, while the BSE Small Cap index ended the day up by 0.1%.

November IIP Growth Rises

As per an article in The Livemint, Industrial production growth zoomed to a 17-month high of 8.4% in November 2017 on the back of robust performance of manufacturing and capital goods sectors. The factory output, measured in terms of Index of Industrial Production (IIP), grew 5.1% in November 2016, as per data released today by the Central Statistics Office (CSO).

This is the final set of data that finance minister Arun Jaitley will have before him as he sits down to finalize the budget for 2018-19, to be presented on 1 February.

CSO on 5 January projected economic growth to decelerate to 6.5% in 2017-18 from 7.1% last year. Growth will accelerate to 7% in the second half of the year (October-March) from 6% in the first half (April-September), CSO said.

Top Stocks to Watch Out

IDFC Bank share price is expected to be in limelight today after it was reported that the bank and nonbanking financial company (NBFC) Capital First are likely to announce a merger creating a larger institution with about Rs 1.4 trillion of assets and nearly 6.4 million customers. The union could also act as a springboard for IDFC Bank looking to quickly grow its assets.

Infosys share price finished the previous session up by 0.3% and is expected to see some momentum today as well after the company reported a whopping 37.6% growth in Q3 profit, with retaining full year revenue guidance. The profit for the quarter, which was largely driven by tax reversal, stood at Rs 51.29 billion against Rs 37.26 billion in previous quarter.

In news from automobile sector, Bajaj Auto is seeking to increase its market share from about 17-18% to around 24-25% this year strengthening its portfolio of motorcycles with several new launches. Having introduced two new models under the Discover range of motorcycles, Bajaj Auto plans to add two new Avenger Cruiser motorcycles shortly and follow this up with several other launches during the year.

Indusind Bank share price is expected to be in limelight today after the bank reported a 24.73% jump in its December quarter net profit on the back of higher net interest income and other income. As a percentage of total loans, gross NPAs stood at 1.16% as compared to 1.08% in the previous quarter.

Telecom stocks are expected to witness some action today. As per an article in The Economic Times, Bharti Airtel tied up with e-commerce platform Amazon India to offer one-year subscription of Amazon Prime free of cost to its postpaid subscribers. Meanwhile, the National Company Law Tribunal has approved the proposed merger between Vodafone India Ltd and Idea Cellular Ltd to create India's largest mobile wireless company and now require only the Department of Telecommunication's approval to proceed with the merger.

Tata Steel share price could see some momentum today after The Economic Times reported that the company is set to launch a US$1-billion bond issue as part of a mega financing exercise to streamline its international balance sheet before its European joint venture with Thyssenkrupp kicks off.

IPO Segment

Newgen Software Technologies Limited, a software products company, will be launching its initial public offering (IPO) which is scheduled to open on Tuesday, January 16, 2018 and close on Thursday, January 18, 2018, with a price band of Rs 240 to Rs 245 per equity share of face value of Rs 10 each of the Company.

The IPO comprises of Fresh Issue of up to Rs 950 million by the Company and an offer for sale by the Selling Shareholders. The Offer for Sale consists of up to 13,453,932 equity shares. The minimum Bid lot is 61 Equity Shares and in multiples of 61 Equity Shares thereafter.

The net proceeds of the fresh issue will be utilised towards -purchase and furnishing of office premises near Noida and general corporate purposes.

To know more, you can download our FREE report - How to Get Rich with IPOs. This guide will show you how to safely profit from the 2017 IPO rush.

However, The market euphoria is something similar to what was seen in 2007-08. When everyone around you is clamoring to get a piece of the IPO pie, it makes sitting tight difficult. And, why should you sit tight when stocks like Avenue Supermart lets you pocket a cool 100% gain from day 1 of the listing?

History suggests that these cases are few and far between. More than 70% of the IPOs listed in 2007 and 2008 are in the red, even today when the Sensex is at an all-time high.

This allows us to stay on the fence when it comes to investing in IPOs. But it doesn't make sense to completely ignore this space. For every Reliance Power - like issue, there have been issues like Maruti, TCS, and Jubilant Foodworks Ltd (with returns over 4,000%, 1,000% and 500% respectively) that have created immense wealth for shareholders. A merit-based selection primarily including valuation, business, and management quality is the logical way to go about it.

Bitcoin Hits a Rough Patch

Bitcoin prices has fallen double digits over the last week amid a slew of bad news, and one strategist said this loss of momentum could prove negative for the cryptocurrency in the near term.

The cryptocurrency market has remained under pressure this week, as prices of digital currencies, including bitcoin (BTC) and ripple, tumbled nearly 20% between January 5 and 12 amid talks that South Korea was mulling a trading ban on digital currencies.

Some analysts feel such an action by Seoul may push other nations to consider similar moves. A Wall Street consultancy also predicted a major crash in the cryptocurrency market this year.

Meanwhile, as per the media reports, Mukesh Ambani's telecom venture Reliance Jio may launch its own cryptocurrency, JioCoin, shortly. Reportedly, the mandate of a 50-member team is working on blockchain technology, which is being helmed by Ambani's elder son Akash.

Global Markets on Strong Footing

Most Asian stock markets resumed their positive start to the year yesterday with Hong Kong extending its record run to 14 days while the euro held gains after the previous day's jump.

Markets were once again provided a strong lead from Wall Street where all three main indexes advanced to new all-time highs, with energy firms riding a surge in oil prices. Confidence across world markets is booming on the back of a healthy economic outlook and optimism about corporate profits heading into the latest earnings season.

Meanwhile, European stocks ended in positive territory on Friday, as investors digested new earnings, data and a political breakthrough in Germany. US stocks continued to soar making their best start to the year since 2003.

Oil Prices Rise

Crude oil prices rose last week, ending the week at the highest level in more than three years.

Prices have surged due to a weak US dollar, falling oil inventories, and OPEC's supply quota deal with Russia. Political upheaval in Iran also helped oil's rally.

To keep a tab on the movements in crude oil and other commodities, you can read the stock market commentary from the Daily Profit Hunter team. Their commentary tracks the developments in the global economy as well as stock, currency and commodity markets.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary

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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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Indian Share Market Update: Top Gainers and Losers