Recovery in Indian Markets; Future Supply Chain IPO; Jet Airways Result & Stocks to Sway the Market Today

Fri, 8 Dec Pre-Open

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   09:30 am   

   11:30 am   

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   Closing   

Indian share markets continued to witness buying momentum in the afternoon session and finished on a strong note.

At the closing bell yesterday, the BSE Sensex closed higher by 352 points and the NSE Nifty finished higher by 123 points. The S&P BSE Mid Cap finished up by 1.4% while S&P BSE Small Cap finished up by 1.3%. Gains were largely seen in consumer durables sector, capital goods sector and power sector.

Top Stocks to Watch Out

Tata communication share price should witness some action today as the company is reportedly planning to hire 400 people and invest US$50 million in cyber security services business in next three years. The company is gradually establishing a global presence that provides customers advanced insights on cyber security threats.

In news from automobile sector, TVS Motor Company is aiming to sell 10,000 units of its newly launched Apache RR 310, a 310 cc super-premium bike, in its first year. TVS Motor's entry into the new segment comes four years after a tie-up agreement between the Indian motorcycle major and Germany's BMW Motorrad. Following the 2013 agreement between the two entities, TVS Motor has infused an investment around Rs 4 billion.

Tata motors share price rose 1.4% in yesterday's trade is expected to gather some limelight as the company's subsidiary -- Jaguar Land Rover (JLR) has reported total retail sales of 52,332 vehicles in November, up 10.0% on November 2016. The growth was driven primarily by the introduction of the new Land Rover Discovery and the Range Rover Velar. Furthermore, retail sales of Jaguar's all new compact SUV, the E-PACE, began in the UK and Europe during November.

Cyient share price should be in focus today as the company has entered into a non-exclusive business alliance with EA Technology, an energy technology company headquartered in Chester, United Kingdom. Through this agreement, both the entities will jointly pursue business opportunities globally, by leveraging their complementary skills, technical capabilities, and experience. The alliance will provide asset management and decision support solutions and services for electric utilities.

Bharti Airtel share price surged 6% in yesterday's trade after it was reported that the company has partnered with Intex Technologies to unveil a clutch of affordable 4G smartphones, with some effectively under Rs 1,700 to combat Reliance Jio's 4G VoLTE feature phone that comes for a fully refundable deposit.

GMR group unit GMR Infrastructure (Singapore) Pte Ltd, along with its Manila-based partner Megawide, is in the race for a US$250 million Clark International Airport new terminal building project in the Philippines. GMR Infra share price rose 2.1% in yesterday's trade.

Jet Airways share price rose 2% ahead of its September quarter earnings. According to analyst estimates, the company may post a net profit of Rs 993.7 billion on net sales of Rs 59.95 billion.

IPO Segment

The initial public offering (IPO) by Future Supply Chain Solutions was subscribed 47% on the second day of the biding process.

Future Supply Chain has set a price band of Rs660-664 per share for the IPO. Parent Future Enterprises Ltd and special situations fund SSG Capital will collectively sell 9.78 million shares. The offer will see a total stake dilution of 24.43%.

The company will not receive any funds raised from the issue. The object of the issue is to achieve benefits of listing and enhance company's visibility and brand image along with providing liquidity to its shareholders.

Meanwhile, the IPO by Shalby was subscribed fully on Day 3 of the bidding process. The issue had received 20 per cent subscription by the end of Day 1 and 46 per cent by Day 2. The price band for the issue is fixed at Rs 245 to Rs 248 per equity share.

In another development, Khadim India, New India Assurance Co, General Insurance Corporation of India and Indian Energy Exchange, which listed recently, are down 3 to 14% below their issue prices. Some of them even listed at a discount.

The buzz in the IPO market encouraged the government and companies, which launched their issues recently, to aggressively price their offerings.

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.

Global Markets Remain Volatile

Global markets have succumbed to a session of profit taking this week, while US equities struggled to maintain gains, as traders move out of some of 2017's biggest winners, including technology shares and emerging-market stocks.

European stocks were higher while some Asian stock markets recovered from the previous day's losses on Thursday as investors focused on the US tax reform and an upcoming US jobs report.

Meanwhile, US stocks put the brakes on a global equity selloff as technology shares advanced. Here are some of the key events to watch out for:

• As per Bloomberg's report, the US will face a partial government shutdown after money runs out today if Congress can't agree on a spending bill.
• Reportedly, US employers were probably hired at a robust pace in November as the unemployment rate held at an almost 17-year low. The Labor Department's jobs report to be out today may also show a bump up in average hourly earnings.
• Theresa May will present draft wording on the Irish border.

Oil Prices Stablilise

Oil prices were stable in yesterday's trade as a fall in U.S. crude inventories was countered by soaring output and a rise in fuel stocks.

In another development, as per a leading financial daily, withdrawing from the OPEC-NOPEC agreement to cut 1.8 million barrels per day of output could take up to six months to fully negotiate.

Last week, OPEC and its non-OPEC partners agreed to extend the deal through the end of 2018, but the team included a review clause that would take place in June. It is unclear whether countries will have the ability to leave the pact at that point.

Libya and Nigeria will face a combined cap of 2.8 million BPD starting in January. The deal extension is sending a stronger signal that the oil market rebalancing could speed up and send WTI oil prices to average US$54.78 a barrel in 2018, up from a previous projection of US$52.50

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.

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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