Morning Comments
Indian markets could open flat to mildly higher, in line with largely positive Asian markets today and higher US markets on Monday.…
U.S. stocks ended sharply higher Monday, rallying a day ahead of the latest consumer-price index reading, one of the most market-moving pieces of data of the past year. Economists forecast that the headline year-over-year January CPI inflation reading will fall from 6.5% in December to 6.2%.
India's headline retail inflation rate jumped to a three-month high of 6.52 percent in January from December's one-year low of 5.72 percent, data released on February 13 by the Ministry of Statistics and Programme Implementation showed.
At 6.52 percent, the latest Consumer Price Index (CPI) inflation print is significantly above the consensus estimate. As per a Moneycontrol poll of 17 economists, inflation was seen rising to 6.1 percent in January.
On Tuesday, the Japanese government is expected to name academic Kazuo Ueda as its pick to become the next central bank governor. Kazuo Ueda's probable appointment as the next governor of the Bank of Japan could improve the odds of an end to its unpopular yield control policy. BlackRock Investment Institute on Monday cut Japanese stocks to "underweight", saying that a Bank of Japan (BOJ) policy change away from its "ultra-loose" monetary strategy could push global yields higher and reduce risk appetite.
Asian shares tracked the bounce on Wall Street on Tuesday, as investors remained sanguine that key U.S. economic data due later would show an easing in inflation.
Nifty fell for the second consecutive session on Feb 13 dragged down by weak Asian cues. At close, Nifty was down 0.48% or 85.6 points at 17770.9. Nifty has formed a bearish Engulfing pattern suggesting more pain in the near term. A break of 17721 could lead to a faster fall towards the 17517-17545 band. On upmoves, 17877 could be tough to breach in the near term. Q3 corporate results season could come to an end in the next two days. Majority of companies that reported numbers in the last few days have disappointed the street and that is getting reflected in the poor advance decline ratio.
Indian markets could open flat to mildly higher, in line with largely positive Asian markets today and higher US markets on Monday.…
U.S. stocks ended sharply higher Monday, rallying a day ahead of the latest consumer-price index reading, one of the most market-moving pieces of data of the past year. Economists forecast that the headline year-over-year January CPI inflation reading will fall from 6.5% in December to 6.2%.
India's headline retail inflation rate jumped to a three-month high of 6.52 percent in January from December's one-year low of 5.72 percent, data released on February 13 by the Ministry of Statistics and Programme Implementation showed.
At 6.52 percent, the latest Consumer Price Index (CPI) inflation print is significantly above the consensus estimate. As per a Moneycontrol poll of 17 economists, inflation was seen rising to 6.1 percent in January.
On Tuesday, the Japanese government is expected to name academic Kazuo Ueda as its pick to become the next central bank governor. Kazuo Ueda's probable appointment as the next governor of the Bank of Japan could improve the odds of an end to its unpopular yield control policy. BlackRock Investment Institute on Monday cut Japanese stocks to "underweight", saying that a Bank of Japan (BOJ) policy change away from its "ultra-loose" monetary strategy could push global yields higher and reduce risk appetite.
Asian shares tracked the bounce on Wall Street on Tuesday, as investors remained sanguine that key U.S. economic data due later would show an easing in inflation.
Nifty fell for the second consecutive session on Feb 13 dragged down by weak Asian cues. At close, Nifty was down 0.48% or 85.6 points at 17770.9. Nifty has formed a bearish Engulfing pattern suggesting more pain in the near term. A break of 17721 could lead to a faster fall towards the 17517-17545 band. On upmoves, 17877 could be tough to breach in the near term. Q3 corporate results season could come to an end in the next two days. Majority of companies that reported numbers in the last few days have disappointed the street and that is getting reflected in the poor advance decline ratio.
Indian markets could open flat to mildly higher, in line with largely positive Asian markets today and higher US markets on Monday.
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Nifty has bounced back smartly after holding above Monday's lows. Further upsides are likely once the immediate resistance of 17,926 is taken out.
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#MarketReport #MarketViewpoint #Research #Podcast
Attain our exclusive webinar on Weekly F&O Outlook by Mr. Devarsh Vakil - Deputy Research Head on 15-Feb-2023 at 4.00 PM
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Morning Comments
Indian markets could open lower, in line with negative Asian markets today and mixed US markets on Tuesday.…
U.S. stocks ended mixed on Tuesday, with the Nasdaq Composite recouping earlier losses and outperforming the rest of the market after January’s consumer-price index showed inflation slowed for a seventh straight month, but not as quickly as economists had expected.
The January consumer-price index showed the cost of living rising 6.4% year over year, down from 6.5% in December but hotter than the Wall Street forecast of 6.2%. On a month-by-month basis, prices increased by 0.5% in January, compared with a slower gain of 0.1% in December. The so-called core rate of inflation, which omits food and energy, advanced 0.4% for the second month in a row. It was slightly above the Wall Street forecast of 0.3% gain.
Two Federal Reserve officials then warned that the remedy might require higher interest rates for a long period of time, though one policymaker suggested that the end might be near.
The next big data point will be January retail sales on Wednesday, offering clues about the strength of consumer spending and the economy in the face of higher interest rates. Economists polled by Dow Jones expect the figure will show that retail sales rose 1.9% in January from the prior month. U.S. retail sales slumped 1.1% in December.
Asian stocks and US equity futures fell Wednesday as investors weighed hot American inflation data and mixed commentary from central bankers on the outlook for interest rates.
Nifty rose on Feb 14 snapping a two day losing streak aided by positive global cues and soft WPI numbers in India. At close, Nifty was up 0.89% or 158.9 points at 17929.9. Nifty has closed at the highest since Jan 24. In the process it has formed a bullish ascending triangle type of pattern. It could now stay in the 17824-18027 band for the near term.
Indian markets could open lower, in line with negative Asian markets today and mixed US markets on Tuesday.…
U.S. stocks ended mixed on Tuesday, with the Nasdaq Composite recouping earlier losses and outperforming the rest of the market after January’s consumer-price index showed inflation slowed for a seventh straight month, but not as quickly as economists had expected.
The January consumer-price index showed the cost of living rising 6.4% year over year, down from 6.5% in December but hotter than the Wall Street forecast of 6.2%. On a month-by-month basis, prices increased by 0.5% in January, compared with a slower gain of 0.1% in December. The so-called core rate of inflation, which omits food and energy, advanced 0.4% for the second month in a row. It was slightly above the Wall Street forecast of 0.3% gain.
Two Federal Reserve officials then warned that the remedy might require higher interest rates for a long period of time, though one policymaker suggested that the end might be near.
The next big data point will be January retail sales on Wednesday, offering clues about the strength of consumer spending and the economy in the face of higher interest rates. Economists polled by Dow Jones expect the figure will show that retail sales rose 1.9% in January from the prior month. U.S. retail sales slumped 1.1% in December.
Asian stocks and US equity futures fell Wednesday as investors weighed hot American inflation data and mixed commentary from central bankers on the outlook for interest rates.
Nifty rose on Feb 14 snapping a two day losing streak aided by positive global cues and soft WPI numbers in India. At close, Nifty was up 0.89% or 158.9 points at 17929.9. Nifty has closed at the highest since Jan 24. In the process it has formed a bullish ascending triangle type of pattern. It could now stay in the 17824-18027 band for the near term.
Important Economic & Companies Event
• Adani Group Seeks to Calm Investors on $27 Billion Debts
• Air India to Buy 470 Boeing, Airbus Jets in Record Order
• India Jan. Wholesale Prices Rise 4.73% Y/y, Est. +4.50%
• India Pressures China to Take Haircut on Loans to Poor Nations
• Bupa’s India JV Said to Weigh Stake Sale at $2 Billion Valuation
• Bonds in India Drop as CPI Watchers Query Food Price Jump
• Walmart’s India Payments Arm Raises $100M at a $12B Valuation
• India Court to Hear Google Android Antitrust Appeal Feb. 15-17
• Tax Officials Search BBC India Offices in Wake of Modi Film
• Adani’s Flagship Swings to Profit Amid Short Seller Battle
• Boeing Cuts India Outlook to 2,210 New Jets in Next 20 Years
• India’s Soaring Russian Oil Imports Render Rupee Trade Futile
• Adani Shock Rips Through ESG Funds as Strategy Fails Test
• Dabur Mulls Acquisitions to Expand Across India, Southeast Asia
• Global Warming Making India Vulnerable to Extreme Weather Events
• Argentina, Egypt Consider Buying Tejas Fighters Made in India
• IMF to Meet With China, India, Paris Club on Debt Relief Friday
• Wheat and Rice Output Set to Climb to Record in India: Ministry
• India Easing Barrier on Chinese Solar Imports Won’t End Shortage
• India Cotton Group Cuts 2022-23 Output Estimate to 32.15M Bales
• Modi’s Party Has ‘Nothing to Hide’ on Adani Crisis, Shah Says
• Goldman Sachs Leads India Fintech Funding While Deals Dry Up
• Foreign Investors Buy Net INR15B of Indian Equities Monday
• Adani Group in Talks With Abu Dhabi’s IHC for Capital: ET
• Nepal, India discuss collaboration on water resources, energy
• Thales signs rocket agreement with Bharat Dynamics in India
• India M&A momentum to remain strong in 2023, says report
• Apollo Hospitals: Apollo Hospitals 3Q Net Income Misses Estimates
• Bata India: Bata India 3Q Net Income Misses Estimates
• Biocon: Biocon 3Q Net Loss Misses Estimates (1)
• CESC: CESC 3Q Net Income Misses Estimates
• GMR Airports Infra: GMR Airports Infra 3Q Net Income 1.91B Rupees
• Grasim: Grasim 3Q Net Income 2.57B Rupees Vs. 5.22B Rupees Y/y (2)
• Indiabulls Housing (IHFL): 3Q Net Income 2.91B Rupees
• NBCC India: NBCC India 3Q Net Income 485.2M Rupees Vs. 693.5M Rupees Y/y
• NMDC: NMDC 3Q Net Income Misses Estimates
• NOMURA INDIA BUYS 1.24M SHARES OF PHOENIX AT INR1310/SHARE: BSE
• ONGC: ONGC 3Q Net Income Misses Estimates (1)
• PI Industries: PI Industries 3Q Net Income Beats Estimates
• Prestige Estates: Prestige Estates 3Q Net Income Beats Estimates
• Reliance Plan for Sintex Industries Approved by Bankruptcy Court
• Siemens India: Siemens India 1Q Net Income 4.38B Rupees Vs. 2.45B Rupees Y/y
• Torrent Power: Torrent Power 3Q Net Income Beats Estimates
• Vodafone Idea (IDEA): Vodafone Idea 3Q Net Loss 79.9B Rupees, Est. Loss 74.4B Rupees
• Adani Group Seeks to Calm Investors on $27 Billion Debts
• Air India to Buy 470 Boeing, Airbus Jets in Record Order
• India Jan. Wholesale Prices Rise 4.73% Y/y, Est. +4.50%
• India Pressures China to Take Haircut on Loans to Poor Nations
• Bupa’s India JV Said to Weigh Stake Sale at $2 Billion Valuation
• Bonds in India Drop as CPI Watchers Query Food Price Jump
• Walmart’s India Payments Arm Raises $100M at a $12B Valuation
• India Court to Hear Google Android Antitrust Appeal Feb. 15-17
• Tax Officials Search BBC India Offices in Wake of Modi Film
• Adani’s Flagship Swings to Profit Amid Short Seller Battle
• Boeing Cuts India Outlook to 2,210 New Jets in Next 20 Years
• India’s Soaring Russian Oil Imports Render Rupee Trade Futile
• Adani Shock Rips Through ESG Funds as Strategy Fails Test
• Dabur Mulls Acquisitions to Expand Across India, Southeast Asia
• Global Warming Making India Vulnerable to Extreme Weather Events
• Argentina, Egypt Consider Buying Tejas Fighters Made in India
• IMF to Meet With China, India, Paris Club on Debt Relief Friday
• Wheat and Rice Output Set to Climb to Record in India: Ministry
• India Easing Barrier on Chinese Solar Imports Won’t End Shortage
• India Cotton Group Cuts 2022-23 Output Estimate to 32.15M Bales
• Modi’s Party Has ‘Nothing to Hide’ on Adani Crisis, Shah Says
• Goldman Sachs Leads India Fintech Funding While Deals Dry Up
• Foreign Investors Buy Net INR15B of Indian Equities Monday
• Adani Group in Talks With Abu Dhabi’s IHC for Capital: ET
• Nepal, India discuss collaboration on water resources, energy
• Thales signs rocket agreement with Bharat Dynamics in India
• India M&A momentum to remain strong in 2023, says report
• Apollo Hospitals: Apollo Hospitals 3Q Net Income Misses Estimates
• Bata India: Bata India 3Q Net Income Misses Estimates
• Biocon: Biocon 3Q Net Loss Misses Estimates (1)
• CESC: CESC 3Q Net Income Misses Estimates
• GMR Airports Infra: GMR Airports Infra 3Q Net Income 1.91B Rupees
• Grasim: Grasim 3Q Net Income 2.57B Rupees Vs. 5.22B Rupees Y/y (2)
• Indiabulls Housing (IHFL): 3Q Net Income 2.91B Rupees
• NBCC India: NBCC India 3Q Net Income 485.2M Rupees Vs. 693.5M Rupees Y/y
• NMDC: NMDC 3Q Net Income Misses Estimates
• NOMURA INDIA BUYS 1.24M SHARES OF PHOENIX AT INR1310/SHARE: BSE
• ONGC: ONGC 3Q Net Income Misses Estimates (1)
• PI Industries: PI Industries 3Q Net Income Beats Estimates
• Prestige Estates: Prestige Estates 3Q Net Income Beats Estimates
• Reliance Plan for Sintex Industries Approved by Bankruptcy Court
• Siemens India: Siemens India 1Q Net Income 4.38B Rupees Vs. 2.45B Rupees Y/y
• Torrent Power: Torrent Power 3Q Net Income Beats Estimates
• Vodafone Idea (IDEA): Vodafone Idea 3Q Net Loss 79.9B Rupees, Est. Loss 74.4B Rupees
Indian markets could open lower, in line with negative Asian markets today and mixed US markets on Tuesday.
Listen to the D-Street Details with Devarsh Vakil.
Listen to the podcast on
SoundCloud - https://bit.ly/3lwtI37
Spotify - https://spoti.fi/3YA7Dzi
Google Podcast - https://bit.ly/3ujJiQu
Apple Podcast: https://apple.co/3ArsI2R
Amazon Podcast: https://amzn.to/3CJTXG0
Listen to the D-Street Details with Devarsh Vakil.
Listen to the podcast on
SoundCloud - https://bit.ly/3lwtI37
Spotify - https://spoti.fi/3YA7Dzi
Google Podcast - https://bit.ly/3ujJiQu
Apple Podcast: https://apple.co/3ArsI2R
Amazon Podcast: https://amzn.to/3CJTXG0
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Morning Comments
Indian markets could open mildly higher, in line with mostly positive Asian markets today and higher US markets on Wednesday.…
U.S. stock indexes ended modestly higher on Wednesday, with gains led by the technology-heavy Nasdaq Composite, as investors digested strong retail sales data in the wake of an inflation report on Tuesday that suggested the Federal Reserve may need to raise interest rates higher than previously thought to bring down inflation.
U.S. stock indexes finished a volatile session modestly higher on Wednesday as data showed that U.S. retail sales jumped 3% in January, the biggest increase in almost two years after declining by an unrevised 1.1% in December. S&P 500 finished higher after wavering for most of the day, while the Dow trimmed all its losses in the final hour of trade, rallying more than 250 points from its intraday low to end in the green.
Investors took this data as suggesting a resilient economy while remaining aware about the possibility of further interest rate hikes. Wednesday’s “massive” retail sales figures may have been partly related to warm weather but suggest the US economy “will easily avoid a recession” in the first quarter.
U.S. industrial output was flat in January, after it recorded a 1% decline in the prior month.
Japan posted a record trade deficit of 3.5 trillion yen ($26 billion) in January, up 59% YoY– according to Refinitiv data that dates back to March 2006.
Stocks in Asia rose after US shares climbed as investors weighed fresh data that indicated further Federal Reserve tightening ahead.
Nifty rose for the second consecutive session on Feb 15. At close, Nifty was up 0.48% or 86 points at 18015.9. Nifty broke out upwards out of a trading range, as expected. Now the trading range of the Nifty shifts to 17856-18118 with an upward bias for the near term.
Indian markets could open mildly higher, in line with mostly positive Asian markets today and higher US markets on Wednesday.…
U.S. stock indexes ended modestly higher on Wednesday, with gains led by the technology-heavy Nasdaq Composite, as investors digested strong retail sales data in the wake of an inflation report on Tuesday that suggested the Federal Reserve may need to raise interest rates higher than previously thought to bring down inflation.
U.S. stock indexes finished a volatile session modestly higher on Wednesday as data showed that U.S. retail sales jumped 3% in January, the biggest increase in almost two years after declining by an unrevised 1.1% in December. S&P 500 finished higher after wavering for most of the day, while the Dow trimmed all its losses in the final hour of trade, rallying more than 250 points from its intraday low to end in the green.
Investors took this data as suggesting a resilient economy while remaining aware about the possibility of further interest rate hikes. Wednesday’s “massive” retail sales figures may have been partly related to warm weather but suggest the US economy “will easily avoid a recession” in the first quarter.
U.S. industrial output was flat in January, after it recorded a 1% decline in the prior month.
Japan posted a record trade deficit of 3.5 trillion yen ($26 billion) in January, up 59% YoY– according to Refinitiv data that dates back to March 2006.
Stocks in Asia rose after US shares climbed as investors weighed fresh data that indicated further Federal Reserve tightening ahead.
Nifty rose for the second consecutive session on Feb 15. At close, Nifty was up 0.48% or 86 points at 18015.9. Nifty broke out upwards out of a trading range, as expected. Now the trading range of the Nifty shifts to 17856-18118 with an upward bias for the near term.
Important Economic & Companies Event
• Adani Group Hires Banks to Hold Fixed-Income Investor Calls
• India Settled Isolated Trade Deals in Rupee, Official Says
• Blackstone Turns to India as Global Investors Grow Cautious
o India generated the highest private-equity returns for firm
• India Trade Gap Narrows to One-Year Low in January
• India Won’t Hold Bond Switches in February and March, RBI Says
• India Jan. Vegetable Oil Imports Rise to 1.66m Tons: SEA
• Indian Stocks Rise for Second Day Defying US Inflation Fears
o Adani Stocks Mixed as Group Touts Adequate Cash Reserves
• Pension Funds Have Highest Technology Exposure, Banks Lowest
• BRICS 4Q GDP Forecast Steady in Past Week; Russia Seen at -5.0%
• Global Funds Buy Net INR 4.32B of India stocks on Feb. 15: NSE
o Domestic funds buy 5.17 billion rupees of India stocks
• Adani Power Says Long Stop Date to Complete DB Power Buy Expires
• Shobha Gangwal May Sell 4% in IndiGo Via Block Deal: CNBC- TV18
• Intensive operation to clean Yamuna floodplains to be launched on Thursday: PTI
• NTPC plans to raise up to USD 750 million term loan in JPY denomination: PTI
• Top court to hear Amazon’s appeal against suspending antitrust body’s nod to 2019 deal with Future group
• Delhi high court to hear case on Fortis audit of share sale and Daiichi’s plea to seek $500 million award money using shares in Fortis and also hear petitions on Meta, Twitter’s power to remove content, accounts
• Dabur India (DABUR): Clarifies Keeps Exploring Acquisition Opportunities
• Oil & Natural Gas (ONGC): Sees production rising by 1% in FY23, 4%-5% in FY24; CAPEX seen INR300b as planned: Conf call
• Patel Engineering (PEC): Says its Jv partners declared lowest bidder for INR15.67b worth project in MP & Maharashtra
• Ramco Systems (RMCS): In pact with Phillippine Airlines for aviation suite
• Vedanta (VEDL): Says Co. Emerges Preferred Bidder for Bauxite Mine in Odisha
• Adani Group Hires Banks to Hold Fixed-Income Investor Calls
• India Settled Isolated Trade Deals in Rupee, Official Says
• Blackstone Turns to India as Global Investors Grow Cautious
o India generated the highest private-equity returns for firm
• India Trade Gap Narrows to One-Year Low in January
• India Won’t Hold Bond Switches in February and March, RBI Says
• India Jan. Vegetable Oil Imports Rise to 1.66m Tons: SEA
• Indian Stocks Rise for Second Day Defying US Inflation Fears
o Adani Stocks Mixed as Group Touts Adequate Cash Reserves
• Pension Funds Have Highest Technology Exposure, Banks Lowest
• BRICS 4Q GDP Forecast Steady in Past Week; Russia Seen at -5.0%
• Global Funds Buy Net INR 4.32B of India stocks on Feb. 15: NSE
o Domestic funds buy 5.17 billion rupees of India stocks
• Adani Power Says Long Stop Date to Complete DB Power Buy Expires
• Shobha Gangwal May Sell 4% in IndiGo Via Block Deal: CNBC- TV18
• Intensive operation to clean Yamuna floodplains to be launched on Thursday: PTI
• NTPC plans to raise up to USD 750 million term loan in JPY denomination: PTI
• Top court to hear Amazon’s appeal against suspending antitrust body’s nod to 2019 deal with Future group
• Delhi high court to hear case on Fortis audit of share sale and Daiichi’s plea to seek $500 million award money using shares in Fortis and also hear petitions on Meta, Twitter’s power to remove content, accounts
• Dabur India (DABUR): Clarifies Keeps Exploring Acquisition Opportunities
• Oil & Natural Gas (ONGC): Sees production rising by 1% in FY23, 4%-5% in FY24; CAPEX seen INR300b as planned: Conf call
• Patel Engineering (PEC): Says its Jv partners declared lowest bidder for INR15.67b worth project in MP & Maharashtra
• Ramco Systems (RMCS): In pact with Phillippine Airlines for aviation suite
• Vedanta (VEDL): Says Co. Emerges Preferred Bidder for Bauxite Mine in Odisha
Indian markets could open mildly higher, in line with mostly positive Asian markets today.
Listen to the complete D-Street Details with Devarsh Vakil.
Listen to the podcast on
SoundCloud - https://bit.ly/3I4i7Qz
Spotify - https://spoti.fi/3xqn3Kx
Google Podcast - https://bit.ly/3ujJiQu
Apple Podcast: https://apple.co/3ArsI2R
Amazon Podcast: https://amzn.to/3CJTXG0
Listen to the complete D-Street Details with Devarsh Vakil.
Listen to the podcast on
SoundCloud - https://bit.ly/3I4i7Qz
Spotify - https://spoti.fi/3xqn3Kx
Google Podcast - https://bit.ly/3ujJiQu
Apple Podcast: https://apple.co/3ArsI2R
Amazon Podcast: https://amzn.to/3CJTXG0
Derivative Option Strategy
Nifty Bull Call Spread - 23/Feb/2023 Expiry
Buy Nifty 18100 CE @ ₹132
Sell Nifty 18300 CE @ ₹40
For detailed explanation kindly refer to our Research report: https://bit.ly/3XDWI6i
Nifty Bull Call Spread - 23/Feb/2023 Expiry
Buy Nifty 18100 CE @ ₹132
Sell Nifty 18300 CE @ ₹40
For detailed explanation kindly refer to our Research report: https://bit.ly/3XDWI6i
Nifty has witnessed some selling from the highs. While the underlying trend remains up, short term weakness could be seen if the support of 18,052 is broken.
Catch complete mid-market details with Subash Gangadharan.
Listen to the podcast on
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Apple Podcast: https://apple.co/3ArsI2R
Amazon Podcast: https://amzn.to/3CJTXG0
#MarketReport #MarketViewpoint #Research #Podcast
Catch complete mid-market details with Subash Gangadharan.
Listen to the podcast on
Spotify - https://spoti.fi/3I4shRc
SoundCloud - https://bit.ly/3XC3IAy
Google Podcast: https://bit.ly/3ujJiQu
Apple Podcast: https://apple.co/3ArsI2R
Amazon Podcast: https://amzn.to/3CJTXG0
#MarketReport #MarketViewpoint #Research #Podcast
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Catch what happened in the Equity, Commodity and Currency Markets today with The Market Story.
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Morning Comments
Indian markets could open lower, in line with mostly negative Asian markets today and lower US markets on Thursday.…
U.S. stocks ended sharply lower Thursday as investors digested another hot inflation report that showed price pressures at the wholesale level rose more than expected in January,
Further fanning worries the Federal Reserve may raise interest rates faster and further than investors have been expecting, a pair of regional Fed bank presidents argued that a larger, half-point rise would have been justified when policy makers met earlier this month.
U.S. wholesale prices jumped 0.7% to start the new year, the biggest gain since last summer, offering further proof that inflation is sticky and unlikely to decline rapidly. A separate measure of wholesale prices that strips out volatile food and energy costs climbed a sharp 0.6% last month, the largest increase in 10 months.
Benchmark U.S. Treasury yields at 3.888% are near their highest for 2023, yet the S&P 500 index sits just shy of its best level since August, having bounced 6.5% for the year to date.
Fed fund futures are now pricing in a better-than-50% probability “for a June rate hike, meaning the terminal rate would be 5.375%. There was virtually 0% chance of a June rate hike three weeks ago.
Stocks in Asia dropped Friday as economic data and hawkish comments from Federal Reserve officials revived fears that the U.S. central bank will stick to its monetary tightening path.
Nifty rose for the third consecutive session on Feb 16 though closing off day's high. At close, Nifty was up 0.11% or 20 points at 18035.85. Nifty rose as expected, but could not hold on to gains. In case we see a lower high and lower close on Feb 17 compared to Feb 16, then the present upmove could be termed as over. 18135-17881 could be the new trading band for the Nifty in the near term.
Indian markets could open lower, in line with mostly negative Asian markets today and lower US markets on Thursday.…
U.S. stocks ended sharply lower Thursday as investors digested another hot inflation report that showed price pressures at the wholesale level rose more than expected in January,
Further fanning worries the Federal Reserve may raise interest rates faster and further than investors have been expecting, a pair of regional Fed bank presidents argued that a larger, half-point rise would have been justified when policy makers met earlier this month.
U.S. wholesale prices jumped 0.7% to start the new year, the biggest gain since last summer, offering further proof that inflation is sticky and unlikely to decline rapidly. A separate measure of wholesale prices that strips out volatile food and energy costs climbed a sharp 0.6% last month, the largest increase in 10 months.
Benchmark U.S. Treasury yields at 3.888% are near their highest for 2023, yet the S&P 500 index sits just shy of its best level since August, having bounced 6.5% for the year to date.
Fed fund futures are now pricing in a better-than-50% probability “for a June rate hike, meaning the terminal rate would be 5.375%. There was virtually 0% chance of a June rate hike three weeks ago.
Stocks in Asia dropped Friday as economic data and hawkish comments from Federal Reserve officials revived fears that the U.S. central bank will stick to its monetary tightening path.
Nifty rose for the third consecutive session on Feb 16 though closing off day's high. At close, Nifty was up 0.11% or 20 points at 18035.85. Nifty rose as expected, but could not hold on to gains. In case we see a lower high and lower close on Feb 17 compared to Feb 16, then the present upmove could be termed as over. 18135-17881 could be the new trading band for the Nifty in the near term.
Important Economic & Companies Event
• Adani Aims to Tackle Debt Deadlines With Cash and Private Notes
• Indian Refiner Clarifies Adani Gas Deal After Public Scrutiny
• Largest India Home Financier Prices Record Rupee Debt Offer
o HDFC to sell 250b rupees of 10yr bonds at 7.97% coupon
• SEBI Circular for Substantial Acquisition of Shares, Takeovers
• Byju’s in Funding Talks with TPG, Sovereign Funds as Debt Weighs
• Smallest Trade Gap in a Year Brightens Outlook for India’s CAD
o Barclays, HSBC trim their current account deficit forecasts
• India’s Refined-Oil Product Demand Surges in First-Half February
• India Stocks Gain as Earnings Season Concludes; Tech Firms Rise
o Most Adani Stocks Advance as MSCI Delays Free Float Changes
o Bharat Dynamics Leads India Defense Rally on Contracts
• Global Funds Buy NET INR 15.7B of India stocks on Feb. 16: NSE
o Domestic funds buy 15.8 billion rupees of India stocks
• One more PIL filed in SC on Adani-Hindenburg row: PTI
• Govt plans OTT platform, direct-to-mobile TV, FM auction to increase footprint; PTI
• India Not Opposed to Panel Reviewing Investor Protection Rules
o Supreme Court will hear the case on Feb. 17
• Alembic Pharma (ALPM): Got U.S. FDA EIR for its Karkhadi Injectable facility
• Bharti Airtel (BHARTI): Adds net 1.53m mobile subscribers in December: TRAI
• Bharat Electronics (BHE): Sign accord with Israel Aerospace for LORA Weapon System
• Engineers India (ENGR): Signs memorandum of agreement with Oil India to carry out feasibility report
• Peninsula Land (PENL): Says board meet on Feb. 21, to consider fund raising plan
• RailTel Corp. (RAILTEL): Wins INR270.7m work order from Bangalore Metro Rail and maintenance contract of INR62.2m/year for five years
• Reliance Industries (RIL): Jio adds net 1.71m mobile subscribers in December: TRAI
• UltraTech Cement (UTCEM): Says commisions 2.8 mtpa grinding capacity in Odisha and 1.3 mtpa cement capacity in Chhattisgarh
• Vedanta (VEDL): Mineral Resource declared VEDL as preferred bidder for Kelwardabri Ni, Chromium, Associated PGE block in Chhattisgarh
• Vodafone Idea (IDEA): Loses net 2.47m mobile subscribers in December: TRAI
• Adani Aims to Tackle Debt Deadlines With Cash and Private Notes
• Indian Refiner Clarifies Adani Gas Deal After Public Scrutiny
• Largest India Home Financier Prices Record Rupee Debt Offer
o HDFC to sell 250b rupees of 10yr bonds at 7.97% coupon
• SEBI Circular for Substantial Acquisition of Shares, Takeovers
• Byju’s in Funding Talks with TPG, Sovereign Funds as Debt Weighs
• Smallest Trade Gap in a Year Brightens Outlook for India’s CAD
o Barclays, HSBC trim their current account deficit forecasts
• India’s Refined-Oil Product Demand Surges in First-Half February
• India Stocks Gain as Earnings Season Concludes; Tech Firms Rise
o Most Adani Stocks Advance as MSCI Delays Free Float Changes
o Bharat Dynamics Leads India Defense Rally on Contracts
• Global Funds Buy NET INR 15.7B of India stocks on Feb. 16: NSE
o Domestic funds buy 15.8 billion rupees of India stocks
• One more PIL filed in SC on Adani-Hindenburg row: PTI
• Govt plans OTT platform, direct-to-mobile TV, FM auction to increase footprint; PTI
• India Not Opposed to Panel Reviewing Investor Protection Rules
o Supreme Court will hear the case on Feb. 17
• Alembic Pharma (ALPM): Got U.S. FDA EIR for its Karkhadi Injectable facility
• Bharti Airtel (BHARTI): Adds net 1.53m mobile subscribers in December: TRAI
• Bharat Electronics (BHE): Sign accord with Israel Aerospace for LORA Weapon System
• Engineers India (ENGR): Signs memorandum of agreement with Oil India to carry out feasibility report
• Peninsula Land (PENL): Says board meet on Feb. 21, to consider fund raising plan
• RailTel Corp. (RAILTEL): Wins INR270.7m work order from Bangalore Metro Rail and maintenance contract of INR62.2m/year for five years
• Reliance Industries (RIL): Jio adds net 1.71m mobile subscribers in December: TRAI
• UltraTech Cement (UTCEM): Says commisions 2.8 mtpa grinding capacity in Odisha and 1.3 mtpa cement capacity in Chhattisgarh
• Vedanta (VEDL): Mineral Resource declared VEDL as preferred bidder for Kelwardabri Ni, Chromium, Associated PGE block in Chhattisgarh
• Vodafone Idea (IDEA): Loses net 2.47m mobile subscribers in December: TRAI
Indian markets could open lower, in line with mostly negative Asian markets today and lower US markets on Thursday.
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Listen to the D-Street Details with Devarsh Vakil.
Listen to the podcast on
SoundCloud - https://bit.ly/3YCxnLv
Spotify - https://spoti.fi/3Yulh73
Google Podcast - https://bit.ly/3ujJiQu
Apple Podcast: https://apple.co/3ArsI2R
Amazon Podcast: https://amzn.to/3CJTXG0
Nifty has witnessed some selling from the highs. While the underlying trend remains up, further weakness could be seen if the support of 17,912 is broken.
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Apple Podcast: https://apple.co/3ArsI2R
Amazon Podcast: https://amzn.to/3CJTXG0
#MarketReport #MarketViewpoint #Research #Podcast
Catch complete mid-market details with Subash Gangadharan.
Listen to the podcast on
Spotify - https://spoti.fi/3lIOk8s
SoundCloud - https://bit.ly/3lCNtGd
Google Podcast: https://bit.ly/3ujJiQu
Apple Podcast: https://apple.co/3ArsI2R
Amazon Podcast: https://amzn.to/3CJTXG0
#MarketReport #MarketViewpoint #Research #Podcast