Nifty Closes Above 7900 First Time Since Jan 1
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
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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