Stock & Commodity Market Round Up with Investment Tips

INDORE, India - Sept. 6, 2016 - PRLog -- Stock Market: Nifty rushes towards 8900, Sensex up over 200 pts; autos gain

The market has opened on a strong note. The Sensex is up 244.63 points or 0.9 percent at 28776.74, and the Nifty up 64.30 points or 0.7 percent at 8873.95.About 730 shares have advanced, 208 shares declined, and 57 shares are unchanged.

Tata Motors, Maruti, Axis Bank, Infosys and HDFC are top gainers while Bharti, Wipro and Bajaj Auto.

The Indian rupee started off trade at four-month high after fall in US dollar due to weaker-than-expected jobs data. The currency has opened at 66.53 a dollar, up 29 paise compared with Friday's closing value of 66.82 a dollar.

Investment Tips: Here are 4 stocks for bulls & bears in market

Jubilant Foodworks: JP Morgan is overweight with target of Rs 1210 per share. It says key disappointment was negative same-store-sales growth  SSSG growth of negative 3.2 percent. Its management expects improved performance in Q2 and positive SSSG.

Maruti: Goldman Sachs reiterates buy with target revised to Rs 5774 from Rs 4923 per share. It has raises FY17-18 EPS by 3.5 percent to 4.4 percent on the back of a weaker yen. Moderation is expected in marketing spend post 61 percent surge in FY16 led by Nexa. It says full benefits of mix improvement will play out in the latter half of FY18. Maruti's domestic market share at 48 percent is close to its 10-year highs.

Tata Motors: JP Morgan is overweight with a target of Rs 570 per share. Its new models are driving growth in JLR & India. Morgan Stanley is overweight with target at Rs 585 per share. It expects continued strong sales in us in second half  as new model cycle plays out.

Mindtree: Morgan Stanley downgrades it to underweight from overweight and cut target to Rs 455 from Rs 670 per share. It says Q2 warning indicates business predictability has fallen and macro risks increasing faster than expected. Macro risks, concentrated exposure & Bluefin weakness should drag growth. It has also cut revenue target by 4-9 percent and margin by 160 basis points and EPS by 17-20 percent for FY17-19.

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Commodity Market Round up

1.       Gold rose after U.S. jobs growth came in below expectations, dampening the likelihood of an interest rate hike from the Federal Reserve this month. MCX Gold prices has witnessed breakout of its Rising wedge pattern at 30850 levels on hourly time frame. On the other hand, prices have been trading above 21 HEMA on hourly time frame. For now we expect prices should move higher towards 31300 levels in the coming trading sessions.

2.       Silver prices gained after U.S. employment data missed estimates, boosting the metal's appeal as a haven. MCX Silver prices has observed breakout of Falling wedge pattern at 44969 levels on hourly chart. Furthermore, MCX Silver prices are trading above its 50 HEMA on hourly time frame. For now we expect prices to move higher towards 47150 levels in few trading sessions.

3.       Crude oil prices gained as impressive spike followed the surprise announcement that Russia and Saudi planned to cooperate to stabilize oil markets. MCX Crude oil prices have taken support of its trend line on hourly time frame. For now we expect prices to move higher towards 3075 levels in coming trading sessions.

4.       Copper recovered from day's low as investors bet that more mine supply would drag on prices for the rest of the year.

5.       Zinc settled down as market was cautious about the sustainability of the rise as physical demand had not picked up much.

6.       Natural gas prices dropped as traders reacted to the reality that higher summer demand for the commodity is coming to an end.

7.       Ref soyoil prices ended with gains on improved demand in export market following USDA weekly sales data.

8.       Mentha oil prices gains amid increase in physical demand from major consuming industries in the domestic spot market.

9.       Soyabean prices gained on higher demand for crop in export market following robust weekly export data from United States and India.

10.   Chana prices dropped on profit booking amid government initiatives to check rising prices and availability of pulses.

11.   Turmeric prices dropped amid prospects of better crop this season due to increased sowing following favorable weather condition.

12.   Jeera prices settled flat on expectation of pickup in demand in the physical market.

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Fundamental News:

·         Gold drifted lower in Asia on Monday with comments from the G-20 summit in China eyed for global coordination on monetary and fiscal policies.

·         Gold prices held near a one-week high during European hours on Monday, as disappointing U.S. employment data diminished the likelihood that the Federal Reserve will raise interest rates at its policy meeting later this month.

·         Gold prices held steady near a one-week high during North American hours on Monday, as trade volumes were expected to remain light with many investors in the U.S. away for the Labor Day holiday.

·         Oil prices jumped Monday on reports of Saudi, Russian cooperation on output.

·         Saudi Arabia and Russia signed a joint statement Monday to cooperate on stabilizing oil markets.

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