- In the last week, the Nifty gained over 300 points and closed above the 10,800 mark. From here on the markets are likely to face pressure till there is clarity on the Fed rates front on 19th
- The sharp fall in crude prices and its refusal to rise despite supply cuts will be seen as positive for downstream oil companies. We see upsides of 20-25% on stocks like BPCL and IOCL from the current levels.
- FIIs were net buyers to the tune of Rs.862 crores while DFIs sold Rs.(-303) crore on Friday. FPI selling in equity and debt for the full year is likely to cross the Rs.1 trillion marks after inflows of nearly Rs. 2 trillion in 2017.
- NASDAQ plummeted on Friday by over 2.25% on valuation concerns in tech companies. Markets were weak across Asia and Europe on trade war concerns. SGX is flat but may come under pressure on Monday.
- From a dividend yield point of view, Coal India may be a good bet at the price of Rs.250 with a price of target of Rs.290-300 in the next quarter. CIL could also benefit from better coal off take on the back of strong IIP numbers.
- We continue to stay positive on Yes Bank. The change at the top in RBI may pave the way for a smoother settlement of CEO issues at Yes Bank and the stock could get back closer to the Rs.220 levels in the next one quarter.
- With the rupee showing a weak trend, traders must look at select IT stocks like Infosys to buy at current levels. We see an upside potential of nearly 20% from current levels on Infosys.
- The market undertone may come under pressure tomorrow on the back of global equity market correction and a general risk-off tendency.
