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The CMO Survey - Highlights and Insights Report - Spring 2024
Stock Market Day Commentary for 5-Dec-2017
1. 05.12.2017
Market commentary
In today’s trade markets remained resilient and posted strong recovery in the
afternoon trade. Shriram Transport Finance and Jet Airways were the biggest F&O
gainers in the trade, gaining around 6% each.HDFC Bank and ITC dragged the
index most while PSU banks were among the outperformers. Equity benchmarks
trimmed losses in last couple of hours of trade to end mildly lower on Tuesday as
investors maintained their cautious stance ahead of RBI policy decision tomorrow.
Lower FY18 economic growth forecast by Fitch Ratings and ABP News CSDS
opinion poll indicating tough fight for the BJP in Gujarat also dampened market
sentiment. Nifty closed in red losing 0.1% while Nifty Bank gave a sharp recovery
in last 2 hours of trade, recovering almost everything that it lost during the day.
Nifty Daily Chart
Nifty
R2 R1 Pivot S1 S2
10186 10152 10112 10178
10038
2. Stock to Watch for Wednesday
Steel Strips Wheels Ltd.
Daily Chart
Technical Analysis
The stock is moving in uptrend and has come out of consolidation phase it was
going through and made high of 1100. Today the stock made high of 1077.95 and
gained around 2% and close at 1061.95. Up move can be seen in the stock if it
trades above 1080. In last month the stock was in consolidation phase and had
made low of 750 and found support of 200 day exponential moving average.
Long position can be made above 1075 and target will be 1130 and stop loss can
be maintained below 1020.
3. Market Highlights
The 30-share BSE Sensex was down 67.28 points at 32,802.44 while the 50-
share NSE Nifty managed to hold 10,100 level, ending down 9.50 points at
10,118.30.
FMCG, metals, auto and infra stocks pulled the market lower, but Reliance
Industries and banking & financials (barring HDFC Bank) capped losses.
Prism Cement share price rallied nearly 4 percent intraday Tuesday after
Motilal Oswal has maintained buy call on the stock with a target price of Rs
130 per share (implying 17 percent upside), citing better second half of
FY18.
The market breadth was negative as about three shares declined for every
two shares rising on the BSE.
Shriram Transport, L&T Finance Holdings, MAS Financial, Can Fin Homes,
Equitas Holdings, Dwarikesh Sugar, Praj Industries, Triveni Engineering,
United Spirits, Radico Khaitan, United Breweries, Hathway Cable, Den
Networks, Quick Heal and Jet Airways rallied 1-14 percent. Minda Industries
and IL&FS Investment Managers fell 6-7 percent.
As per BSE filing, Punjab National Bank (PNB) has raised Rs1,315cr through
sale of shares in subsidiary firm, PNB Housing Finance (PNBHFL), through
the offer for sale (OFS) route. The bank successfully sold 98,15,860 equity
shares of PNBHFL to different investors (non-retail and retail) at above the
floor price/cut-off price.
Upcoming Results
Result on
Wednesday
Arshiya,Adorweld,Kridhaninf,Centum,Tnpetro,Pokrna.
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