MARKET Diary

Value % Change

SGX NIFTY 8,158.00 -0.28%

19327 0.50%

HANG SENG 21,980.00 -0.36%

Sensex 26,519.07 -0.31%

Nifty 8,153.60 -0.35%

DOW 19,792.85 -0.60%

NASDAQ 5,456.86 0.37%

CAC 4,819.23 1.04%

Event Today DAX 11,366.40 1.07%

FTSE 6,999.01 0.71%

Concall EW ALL SHARE 14,710.17 -0.05%

Persistent : 9:30 AM

Prime Focus : 2:30 PM

Sudarshan Chem : 4:00 PM Value % Change

Kaveri Seeds : 4:30 PM 27019.00 -2.06%

39295.00 -5.08%

54.49 -1.96%

234.20 0.89%

67.83 0.59%

70.67 0.04%

84.10 -0.28%

Investor Buy(Cr.) Sale(Cr.) Net(Cr.)

15-Dec-16 3781 4393 (612)

Dec-16 32430 34362 (1932)

2016 1012696 1011778 918

Investor Buy(Cr.) Sale(Cr.) Net(Cr.)

15-Dec-16 1989 2167 (177)

Dec-16 13501 13473 29

2016 468525 440180 28345

Morning Traded Market

Nifty Intraday Chart Market

Institutional Turnover

Yesterday Closing Market

POUND/RS.

Market Outlook

CRUDEOIL

Indian equities gave a volatile movement

through the day on Thursday and after opening

on subdued note, Nifty fluctuated in the band of

8122-8226. At the end of the index closed at

8153.60. It had a net loss of 0.35% over the

previous day’s close. The midcap and small cap

indices outshined the benchmark index and

closed the day after gaining 0.4%-0.5%.

On the sectoral front, some selling pressure was

witnessed in FMCG, Media, Auto and

Pharmaceuticals stocks while the other major

indices closed in green.

The US Federal Reserve raised interest rates by a

quarter point on Wednesday and signaled a

faster pace of increase in 2017 as the new

president’s administration take over with

promises to boost growth through tax cuts,

spending and deregulation.

The Fed’s median outlook for rate hike to three

quarter points increase in 2017 from two as of

September. It would be followed by another

three increase in both 2018 and 2019 until the

rate reaches to its long run normal level at 3%.

After giving a pullback rally from 7916.40, Nifty is

moving in the range of 8000 and 8300 since last

three weeks. We expect the range bound

movement of the index to continue for another

few days. Traders are advised to hold long

positions with stop loss 8000.

Quote of the Day : "By confining himself to a relatively few, easy-to-understand cases, a reasonably intelligent,

informed and diligent person can judge investment risks with a useful degree of accuracy."

Benjamin Graham

FII

16-Dec-16

DII

Commodity Price ( Yesterday Closing )

GOLD

NATURALGAS

DOLLAR/RS.

EURO/RS.

Commodity/Currencies

SILVER

Market

NIKKIE

% Change in 1 day

% Change in 1 day

KEY LEVELS

Support 1 : 8056 Support 2 : 7916

Resistance 1: 8310 Resistance 2: 8598

IEA Snapshot

"BUY"

Top News

GODREJCP

HDFC Bank is one of the leading banks in the industry with the strong fundamentals, best in assets quality, adequate capital, steady loan

growth and consistency in profitability growth. Where some of its peers in large cap are struggling with the deteriorating assets quality,

HDFC Bank is well poised to take the advantage from improving macroeconomic scenario. While in the short term there may be hiccups in

the lending activity due to demonetization drive and this has led to uncertainty over the earnings during this period, but the long term

growth and profitability remain intact for the bank. One of the huge benefits from the demonetization drive will arise in the form of shoot

in CASA ratio which will help the bank to cut the rates further to drive the demand. Strategy of the management to focus on high yield

products will help the bank to maintain the NIMs apart from the expected benefits from spurt in CASA (due to demonetization). We expect

the RoE of 19% and maintain ‘BUY’ rating on this stock with our previous target price of Rs 1400.

Management is rationalizing ad expenses and has increased home insecticide products prices by 2% in the late September 2016 to counter

upward movement of input prices. Going forward we expect relatively less impact on GODREJCP compared to other FMCG players, as

company gets approx 46% of its revenue from international market. Secondly company’s proactive initiatives of cutting promotions and

increasing price of the products gives us confidence on margin side. Considering lesser dependence of company in Indian business,

proactive approach towards maintaining the margin and relatively less penetrated product portfolio, we have positive view on this stock

and we maintain `BUY’ with target price of Rs 1760.

15th Dec 2016

*For details, refer to our daily report- India Equity Analytics

• Mgt Int : BAJAJAUTO

Dominar price logical; may not impact Enfield volumes: Bajaj

>>Bajaj launches new Dominar 400, goes after Royal Enfield

>>Mgt is very upbeat on increasing market share with the

launch of the new 400cc bike ‘Dominar’. Mgt is confident of

selling 2 lakh bikes per year.

>>Bajaj is hopeful of clocking sales growth in January-March

2107 and expects to do better than the industry on back of new

launches and product mix.

• Technocraft Industries is well-positioned for the next couple

of months to remain insulated from steel price rises and thereby

neutralise any impact arising out of the hike

the company’s target of trebling topline in the next five years

will be led by revenue growth in scaffolding business. Besides,

Technocraft is also bullish on standalone projects it is

undertaking and defence is one of them . The company’s

current debt stands at Rs 240 crore and has cash in its books of

about Rs 500 crore.• Dilip Buildcon Mgt Guideline : Company arm bagged an order

worth Rs 917 cr to rehabilitate & upgrade NH-66 in

Maharashtra.

It is a hybrid annuity road project from Kalmath to Zarap section

of 43.9 km long. The total cost of the project is around Rs 914

crore, out of which Rs 360 crore will be paid by the government

during construction and Rs 500 crore will be invested by the

company through a mix of equity and debt. This will be received

from the government as annuity.

• Swedish Unemployment Rate fell to 6.2%, from 6.4% in the preceding

month. Analysts had expected Swedish Unemployment Rate to fall to

6.3% last month.

• Sunpharma

→The US Department of Justice accused two former generic

pharmaceutical executives of colluding with other generic

manufacturers to fix prices, the first criminal charges stemming from a

two-year investigation.

→The executives, Jeffrey Glazer and Jason Malek, were charged in

Philadelphia with conspiring to fix the prices of an antibiotic,

doxycycline hyclate, and to split up the market for glyburide, a diabetes

drug as per the US Department.

→Other companies in the congressional probe have since publicly

disclosed receiving subpoenas, including Mylan NV, Allergan, which

later sold its generics business to Teva, Lannett Co, Impax Laboratories,

Par Pharmaceuticals, which is owned by Endo Pharmaceuticals, Sun

Pharmaceutical Industries,Taro Pharmaceuticals Ltd and Mayne, which

purchased a portfolio of drugs from Allergan and Teva.

• U.K. retail sales rose to 0.2%, from 1.8% in the preceding month

whose figure was revised down from 1.9%. Analysts had expected retail

sales to rise 0.2% last month.

• Euro Zone Services PMI fell to 53.1, from 53.8 in the preceding

quarter. Analysts had expected Euro Zone Services PMI to remain

unchanged at 53.8 in the last quarter.

• U.K. claimant count change rose to a seasonally adjusted 2.4K, from

13.3K in the preceding month whose figure was revised up from 9.8K.

Scrip Reco Initiation Price Target 2 Stop Loss

RBLBANK Buy 355.7 404 330

BIOCON Dec.

900 PE

Short

(1 lot =

1100)6.55 0.5 10

TRADING IDEAS

Rational

After getting a strong support at 100 DMA

(near Rs 900), the stock has given a good

pullback rally from that level. In the short

term it is very unlikely to breach that level.

Target 1

3

379

The stock has given a smart pullback rally

with decent volumes yesterday. It has also

made a positive divergence in stochastic on

daily chart. Some fresh buying is expected

from the current level.

F&O OPEN INTEREST ( Number of Contracts )

Individual

Nifty Movers

Foreign Institutions

NSE Sectoral Indices Performance

MARKET MOVERS (1 MONTH CHANGE)

CountryMonday

12th Dec 16

Tuesday

13th Dec 16

Wednesday

14th Dec 16

Thursday

15th Dec 16

Friday

16th Dec 16

US Federal Budget Balance. Import Prices m/m.

Core Retail Sales m/m , PPI

m/m , Retail Sales m/m , Core

PPI m/m , Capacity Utilization

Rate , Industrial Production

m/m , Crude Oil Inventories ,

FOMC Economic Projections ,

FOMC Statement , Federal

Funds Rate , FOMC Press

Conference.

CPI m/m , Core CPI m/m , Philly

Fed Manufacturing Index ,

Unemployment Claims , Current

Account , Empire State

Manufacturing Index .

Building Permits ,

Housing Starts.

UK/EURO ZONEGerman 10-y Bond Auction ,

Spanish 10-y Bond Auction.

CPI y/y , PPI Input m/m

, RPI y/y ,German ZEW

Economic Sentiment ,

ZEW Economic

Sentiment .

Italian Trade Balance ,Average

Earnings Index 3m/y ,

Claimant Count Change .

Retail Sales m/m , MPC Official

Bank Rate Votes , Monetary

Policy Summary , Official Bank

Rate , Asset Purchase Facility .

Final CPI y/y , Final Core

CPI y/y , Trade Balance .

INDIA IIP WPI

Economic Calendar

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