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The final amount raised will depend upon how much of additional amount government decides to retain The fourth tranche of Bharat-22 exchange traded fund (ETF) was subscribed 27 times over the initial amount allocated for the anchor book. Also known as the further fund offer 2 or FFO 2, the ETF raised Rs 13,569 crore through anchor investors. The non-anchor book will be open for subscription on Friday. The final amount raised will depend upon how much of additional amount government decides to retain. The ETF is being managed by ICICI Mutual Fund.

Derivative call by Nandish Shah, Senior Technical & Derivative Analyst, HDFC securities Buy Tata Motors October 125 Call at Rs 7 | Stop loss Rs 4.5 | Target Rs 13 Rationale : -- We have seen long build up in the Tata Motor futures’, where we have seen rise in Open Interest with price rising by 6 per cent. -- Stock price formed bullish engulfing pattern on the daily chart -- RSI oscillator has formed positive divergence on the daily and weekly chart -- RSI oscillator has formed positive divergence on the daily and weekly chart.

Commodities Outlook and stock recommendation by Bhavik Patel - Sr. Technical Analyst (Commodities), Tradebulls Securities Market news : Dollar : The index has rallied to 2 years high limiting gains in Rupee. Low crude oil prices will help rupee but Chinese yuan has started depreciating against strong US dollar so gain in our rupee is limited. Despite strong recovery in Equity market and weak crude oil prices, Indian rupee weakened on account of a strong dollar. FII inflow is also expected because of the IRCTC IPO. For the week, Indian rupee is expected to trade in a range of 70.50-71.90. Gold : We are short-term bearish on gold but very bullish for the long-term. Trump’s impeachment news is making investors flocking to safe haven US dollar. Geopolitical risk in Middle East has subsided so gold’s shine is fading. Gold is struggling because of a strong US dollar which is trading at 2 years high above 99. Next support for gold comes at $1450 and $1435 while in MCX Dec contract 36,6...

Technical Calls by Gaurav Garg, Head of Research at CapitalVia Global Research Limited- Investment Advisor Market news : Nifty managed to hold 11,300 level amid weekly expiry and weaker global scenario; all eyes on Friday as RBI to announce monetary policy Markets traded with higher volatility on Thursday, weaker global cues made adverse impact on the market but somehow the index managed to hold 11,250 and managed to close at 11,314.00 shading 45.90 points. Media and realty stocks traded with positive sentiments throughout the day, but metal and banks especially private banks showed weakness which dragged markets down. Niftybank closed at 28,414.10 that is 311.40 points lower from the previous day’s closing. As per monthly option data, Put writing was seen on strikes ranging from 11,000 to 11,400 which shows Nifty is likely to take support in sub-11,200 zone. Call writing on higher strikes shows there will be congestion above 11,400, where Nifty may face resistance. Traders ...

Interest rate-sensitive stocks, like automobiles and financials, could thus see major movements today Market news : Top factors that could drive markets today Investors should expect another volatile trade today, as markets eye the Reserve Bank of India's bi-monthly monetary policy decision. While a rate cut is already priced-in, the quantum, growth outlook and comments thereafter, by the governor, on further policy easing will set the tone for markets. Interest rate-sensitive stocks, like automobiles and financials, could thus see major movements today. Besides, market participants will watch out for Services PMI data... read more

Here's a look at the top stocks that may trade actively in today's session. Market news : At 08:28 am, Nifty futures on the Singapore Exchange (SGX) were trading 25 points or 0.22 per cent higher at 11,384, indicating a positive start for the Indian market on Friday. Here's a look at the top stocks that may trade actively in today's session - HDIL: The economic offences wing (EOW) of the Mumbai police arrested Housing Development & Infrastructure (HDIL) promoter Rakesh Wadhawan and his son Sarang Wadhawan on Thursday in connection with the Punjab and Maharashtra Co-operative (PMC) Bank scam. BPCL: The international Credit Rating Agency Moody's on Thursday warned of downgrading Bharat Petroleum Corporation (BPCL) to Ba1, if the government goes ahead with privatisation by selling its stake to... read more

Stock calls and Outlook on Nifty by Mr. Sameet Chavan, Chief Analyst- Technical & Derivatives, Angel Broking Ltd. Market news :    Market extends gains but momentum seems to have disappeared On September 20, market took a giant leap after FM’s announcement on slashing corporation taxes. All of a sudden, the tide turned upwards and before anyone could realise, the Nifty was well above 11,200. Since it was predominantly a short squeezing move, markets were not done with such sharp one day spurt. Expectedly, we had a good bump up on Monday to kick start the week on a strong note. Participants were so ecstatic; the Nifty went on to almost kiss the 11,700 mark in the initial euphoric move. However, this seemed to be an overreaction and hence, throughout the remaining part of the week, market consolidated in a slender range to eventually conclude tad above 11,500. Practically speaking, Nifty soared 1,000 points in merely two days and one has to understand, it is v...

Markets are expected to remain in the consolidation-mode, as investors watch out for key micro and macro-level developments through the week Market news : Markets are expected to remain in the consolidation-mode, as investors watch out for key micro and macro-level developments through the week. During the truncated week, market participants would, first, eye the Reserve Bank of India's repo rate decision. The MPC, which is scheduled to meet on Oct 1, 3 and 4th, will announce its decision on the last day of the meeting. After a cut in the corporate tax rate by the Finance Minister, investors await whether or not the Central bank would change its stance and decide to cut short the rate cut cycle. Further, auto and cement sales data, for the month of September, would be released through the week, starting Tuesday, which could keep auto and cement stocks volatile. That apart, Infrastructure output for August, fiscal deficit for... read more

Here's a look at the top stocks that may remain in focus today - Market news : At 08:34 am, Nifty futures on the Singapore Exchange (SGX) were trading 9 points or 0.08 per cent lower at 11,576, indicating a muted start for the Indian market on Monday. Here's a look at the top stocks that may remain in focus today - Peninsula Land: Brickwork has downgraded the rating for debentures of Peninsula Land, real estate unit of the Ashok Piramal Group, from “A” to “BBB-“. It also revised the outlook from “stable” to “negative”. Reliance Anil Dhirubhai Ambani Group stocks may remain in focus today as the companies will hold their annual general meetings (AGMs) today in Mumbai starting 10 am. Anil Ambani will address the meetings of all the companies, except the bankrupt RCom which will be... read more

The domestic unit on Friday spurted by 32 paise to close at a nearly two-month high of 70.56. Market news : The rupee climbed 14 paise to 70.42 against the US dollar in the opening deals on Monday. The domestic unit on Friday spurted by 32 paise to close at a nearly two-month high of 70.56 as crude oil prices receded following reports that Saudi Arabia had agreed on a temporary ceasefire in Yemen. The local unit notched up gains of 38 paise on a weekly basis. In the capital markets, after remaining net sellers for the past two months, foreign investors infused a net Rs 7,714 crore into the domestic capital markets in September following a slew of economic reforms by the government. However, FPI inflows into India will also... read more

Earlier this month, the Union cabinet had approved capital infusion worth over Rs 9,000 crore into the bank Market news : Shares of IDBI Bank declined 4.47 per cent to Rs 32.05 per share on the BSE in the early morning trade on Monday after the company's Board gave in-principal approval for divestment of the bank's stake in Asset Reconstruction Company (India). "The Board of Directors, at its meeting held on Friday, September 27, 2019, (have) granted in-principle approval to divest --partly or wholly-- 6,23,23,800 equity shares (19.18 per cent) of Asset Reconstruction Company (India) Ltd. (ARCIL) held by IDBI Bank," the bank said in an exchange filing. The divestment would be subject to compliance with all applicable laws, regulations and guidelines, the bank added. At 9:57 am, the stock was trading 4.73 per cent lower at... read more

Both LVB and Indiabulls Housing Finance are proposed to merge. Last month, IBHFL said it expects the regulator to take a decision on its merger plan with Lakshmi Vilas Bank in the next two months. Market news : Shares of Lakshmi Vilas Bank (LVB) and Indiabulls Housing Finance came under pressure in the early trade on Monday after the Reserve Bank of India (RBI) initiated prompt corrective action (PCA) plan on the former. At 09:49 am, the stock of LVB was locked at the lower circuit limit of 5 per cent at Rs 34.75 apiece on the BSE while that of Indiabulls Housing Finance was trading over 14 per cent lower at Rs 334.15. Both LVB and Indiabulls Housing Finance are proposed to merge. Last month, Indiabulls Housing Finance said it expects the regulator to take a decision on its merger plan with Lakshmi Vilas Bank in the next two... read more

Hot stocks to lookout for today: Infosys, YES Bank, Coal India Market news : Nifty Current: 11,440 (11,461) Target: NA Stop long positions at 11,375. Stop short positions at 11,530. Big moves could go till 11,600, 11,300. A long Oct 3, 11,400p (75), short 11,300p (58) could gain 15-20 If the reaction continues through settlement. Bank Nifty Current: 29,586 (29,616) Target: NA Stop long positions at 29,425. Stop short positions at 29,800. Big moves could go till 30,000, 29,200. Trend may stay negative... read more

Technical Calls by Gaurav Garg, Head of Research at CapitalVia Global Research Limited- Investment Advisor Market news : Markets ends lower after witnessing major profit booking on weaker global cues: Closes below 11,500 Markets witnessed profit booking on Wednesday after Nifty rallied more than 10 per cent in the last three trading sessions after government’s big relaxation on slashing corporate tax. The index, however, failed to hold the 11,500 level and closed at 11,440.20, shedding 148 points. Apart from IT, all the indices closed in the red. Nifty Bank closed at 29,586.05 i.e., 503.62 points lower from the previous day’s closing. As per option data for the next week, 11,500 level will remain critical as highest put and call OI stands here. Put unwinding is evident on strikes ranging from 11,500 to 11,600 which shows weakening of support at 11,500. Call writing at 11,500 shows Nifty to face stiff resistance. Traders should continue keeping a positive bias for markets as...

Nifty outlook and top trading ideas by Sacchitanand Uttekar, AVP - Technical (Equity) Market news : NIFTY Profit booking and stock rotation within the key sectors ahead of Futures and Optiond (F&O) contract expiry added some pressure to the index as it slipped below its key swing support zone near 11,460. On the daily scale, the index almost filled the gap area which it left on its way up while galloping towards 11,694. The gap area around 11,400-11,380 is expected to act as a support for the coming session. Options data also indicates sizeable PE OI concentrations at 11,500 and 11,400 strikes while on the upside 11,600 built up looks difficult to negotiate which could act as an immediate resistance going forward. The decline from the recent high around 11,694 could be a good opportunity to add quality names as the expectation of the existing trend to continue towards 11,780 in the next few weeks remains valid until the index quotes above 11,200 (200 DEMA). Hence a buy o...

Markets are expected to remain volatile today as investors adjust their positions for the Sept series of Futures and Options contracts, which expire today Market news : Markets are expected to remain volatile today as investors adjust their positions for the Sept series of Futures and Options contracts, which expire today. As per technical evidence, a 'bearish belt hold' pattern was formed on the daily charts yesterday, suggesting indecisive move ahead. Market participants could also react to Sebi's notification easing the process for on-boarding of overseas investors. The notification simplified KYC requirements for FPis and permits them to carry out off-market transfer of securities On the global front, investors could react to US President Donald Trump's statement that a deal with China could happen sooner than... read more

The domestic unit on Wednesday dipped three paise to close at 71.04 amid rising demand for the greenback vis-a-vis other currencies overseas, even as crude oil prices eased. Market news : The rupee on Thursday opened seven paise higher at 70.97 against the US dollar. The domestic unit on Wednesday dipped three paise to close at 71.04 amid rising demand for the greenback vis-a-vis other currencies overseas, even as crude oil prices eased. Forex traders said a weak trend in domestic equities, political unrest in the US and unabated foreign fund outflows also weighed on the local unit. “Indian rupee is flat as there are no major triggers in the market. The political unrest in the US, middle-east tensions and no update over US China trade deal has been keeping rupee... read more

Analysts at Sharekhan expect the bank to report a profit after tax (PAT) of Rs 1,377 crore as against a loss of Rs 120 crore in the June quarter of the previous fiscal Market news : ICICI Bank is scheduled to announce its April-June quarter earnings for financial year 2019-20 (Q1FY20) on Saturday, July 27. Analysts expect the private lender to report an over Rs 1,000 crore in net profit. Asset quality, especially in the power sector, and trends in loan restructuring would be keenly watched. Analysts at Sharekhan expect the bank to report a profit after tax (PAT) of Rs 1,377 crore as against a loss of Rs 120 crore in the June quarter of the previous fiscal (Q1FY19). The bank reported a profit of Rs 42.1 crore in the quarter ended March, 2019 (Q4FY19). “Moderation in credit costs, stable fee income and an improved treasury performance could aid ICICI Bank’s profitability,” say analysts at Motilal Oswal Financial Services (MOFS), who peg the bank’s net... read more

India this month imposed a levy on its companies' share purchases Market news : Politicians from both sides of the aisle in Washington are agitating for curbs on the record pace of stock buybacks planned by American companies. But agitation has turned to outright action in one of the world’s 10 biggest stock markets. India this month imposed a levy on its companies’ share purchases. The proximate motive was to close a loophole after introducing a dividend tax two years back -- to ensure that companies pay something no matter how they return cash to shareholders. India’s practice of taxing markets started at least 15 years ago, when it put a duty on most financial transactions, a measure that European politicians have also been looking at. Being something of a G-20 pioneer in financial taxes hasn’t stopped the rise of India’s equity market, which exceeds $2 trillion, making it three quarters the size of its economy. But the measures by Prime Minister Narendra Modi’s govern...

Views on derivative call by Nandish Shah, Senior Technical & Derivative Analyst, HDFC securities. Market news : Bear Spread strategy on TATA STEEL Buy TATA STEEL August 430: Put at Rs 14 & simultaneously sell 410 Put at Rs 8. Lot Size: 1061. Cost of the strategy : Rs 6 (Rs 6366 per strategy) Maximum profit: Rs 14854 if Tata Steel closes at or below Rs 410 on August expiry. Break-even point: Rs 424 Rationale : -- Short build up is seen in the Tata steel Futures’ yesterday, where we have seen sharp rise in Open Interest with price falling by 1.27%. -- Stock price has broken down from the bearish cup and handle... read more