Nifty Closes Above 7900 First Time Since Jan 1

The Economic Times - - Companies - SOURCE:

Mum­bai: Up­beat guid­ance from In­fosys and fall in whole­sale price in­fla­tion for the 17th straight month in March lifted bench­mark in­dices by 0.8% on Mon­day with the Nifty clos­ing above the 7,900-point mark for the first time since Jan­uary 1. Con­tin­ued op­ti­mism over above nor­mal mon­soon fore­casts also aided sen­ti­ment, help­ing off­set con­cerns over the fall in oil prices af­ter key pro­duc­ers failed to agree on a pro­duc­tion cap. For­eign in­sti­tu­tional in­vestors net bought shares worth ₹ 977.98 crore on Mon­day, ac­cord­ing to pro­vi­sional data. In­fosys’ ₹ 1,300 strike call op­tion has high­est open in­ter­est which sug­gests that shares may ad­vance to­wards th­ese lev­els in April se­ries.

TO­TAL BUY CALLS An­a­lysts ex­pect stock to wit­ness re-rat­ing if ru­ral econ­omy re­cov­ers post mon­soon. New mod­els are ex­pected to drive vol­ume growth

TO­TAL BUY CALLS “The man­age­ment is con­fi­dent of 10% in­dus­try growth in trac­tor sales if mon­soon is good, with chances of an up­side sur­prise," says Credit Suisse

TO­TAL BUY CALLS Shares of ce­ment sec­tor com­pa­nies have seen strong up-move on price re­cov­ery across ma­jor re­gions of the country

TO­TAL BUY CALLS Com­bi­na­tion of strong growth, di­ver­si­fy­ing biz model to­wards re­tail and im­proved as­set qual­ity will re­sult in pre­mium val­u­a­tions

TO­TAL BUY CALLS CMP M-CAP YTD RE­TURN CON­SEN­SUS TAR­GET P/E (TTM) | TO­TAL SELL CALLS CMP M CAP YTD RE­TURN CON­SEN­SUS TAR­GET P/E (TTM) | TO­TAL SELL CALLS CMP M CAP YTD RE­TURN CON­SEN­SUS TAR­GET P/E (TTM) | TO­TAL SELL CALLS CMP M CAP YTD RE­TURN CON­SEN­SUS TAR­GET P/E (TTM) | TO­TAL SELL CALLS CMP M CAP YTD RE­TURN CON­SEN­SUS TAR­GET P/E (TTM):

Climb­ing for the fourth straight ses­sion, the Sen­sex ad­vanced 189.61 points, or 0.7%, to close at 25,816.36. The Nifty gained 64.25 points, or 0.8%, to end at 7,914.70. It closed at the 200- day mov­ing av­er­age of 7,870-lev­els. Fi­nan­cial mar­kets are shut on Tues­day on ac­count of Mahavir Jayanti.

Mar­ket par­tic­i­pants be­lieve re­newed weak­ness in oil prices and volatil­ity from global eco­nomic slow­down con­cerns will cap any ma­jor up­side above 8,000 in the near term.

“We ex­pect mar­ket volatil­ity from global is­sues to per­sist given the high lev­els of debt, rapid changes in cur­rency lev­els and de­pen­dency of the mar­ket on cen­tral bank pol­icy,” Crore Crore Crore Crore Crore | TO­TAL SELL CALLS

said Man­ish Gun­wani, deputy CIOEquity at ICICI Pru­den­tial AMC.

The high­est open in­ter­est con­cen­tra­tion among Nifty call op­tions at 8,000 strike also in­di­cates that the level may act as im­me­di­ate hur­dle.

“The mar­ket is ex­pected to trade with a pos­i­tive bias, but we would ex­pect some cool off to hap­pen once the mar­ket at­tempts breach­ing 8,000 level,” said Pankaj Pandey, head of re­search at ICICIdi­rect.

In­fosys hit a life­time high on Mon­day af­ter pro­ject­ing a strong guid­ance for 2016-17 and notched up over 5%. Its sec­tor peer Tata Con­sul­tancy Ser­vices lost mo­men­tum ahead of its earn­ings af­ter a US court slapped a $940-mil­lion fine on it and an­other Tata Group com­pany but re­couped most losses to end just 0.1% lower ahead of its fourth quar­ter re­sults an­nounced af­ter trad­ing hours. TCS’s fourth quar­ter rev­enue beat es­ti­mates for the first time in seven quar­ters. Co is fo­cused on en­ter­ing and ex­pand­ing in new re­gions in line with its strat­egy of be­ing the No 1 player in mid­dle weight seg­ment glob­ally

TO­TAL BUY CALLS Co is fo­cus­ing on ar­eas like smart home, ap­pli­ances, smart trans­porta­tion and health­care which are ex­pected to lead next growth phase

TO­TAL BUY CALLS Value un­lock­ing in global biosim­i­lar pipe­line and steadily grow­ing busi­ness should present value in the stock go­ing for­ward

TO­TAL BUY CALLS Oil prod­uct de­mand in Asia and Mid­dle East likely to out­pace re­fin­ing sup­ply ad­di­tions over 2016-20, and re­fin­ing mar­gins to stay strong

TO­TAL BUY CALLS Com­pany is grow­ing faster than in­dus­try av­er­age by veer­ing from dealer push to consumer pull dis­tri­bu­tion strat­egy

TO­TAL BUY CALLS CMP M CAP YTD RE­TURN CON­SEN­SUS TAR­GET P/E (TTM) | TO­TAL SELL CALLS CMP MAR­KET CAP YTD RE­TURN CON­SEN­SUS TAR­GET P/E (TTM) | TO­TAL SELL CALLS CMP MAR­KET CAP YTD RE­TURN CON­SEN­SUS TAR­GET P/E (TTM) | TO­TAL SELL CALLS CMP M CAP YTD RE­TURN CON­SEN­SUS TAR­GET P/E (TTM) | TO­TAL SELL CALLS CMP MAR­KET CAP YTD RE­TURN CON­SEN­SUS TAR­GET P/E (TTM) Crore Crore Crore Crore Crore | TO­TAL SELL CALLS

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