NIFTY FUTURES & BANK NIFTY FUTURES OVERVIEWS - 03 JUN 2016

CS NIFTY FUTURES (JUNE) OVERVIEW

TREND MIXED TO BULLISH

RES2:8295

RES 1:8255     

SUP1:8155

SUP2:8115

CS BANK NIFTY FUTURES (JUNE) OVERVIEW

TREND MIXED TO BULLISH

RES 2:17755

RES 1:17675

SUP1:17325

SUP2:17275

                                                  

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Top 5 Things to Know In the Market on Thursday

Here are the top five things you need to know in financial markets on Thursday, June 2:

1. OPEC meets in Vienna
The Organization of the Petroleum Exporting Countries’ closely-monitored meeting kicked off in Vienna at 08:00GMT, or 4:00AM ET. The oil cartel is due to release a statement following the conclusion of the summit at around 14:00GMT, or 10:00AM ET, although no dramatic announcement on a production cut is expected.
Speaking to journalists ahead of the meeting, Saudi Arabia’s oil minister, Khalid Al-Falih, said the oil group’s strategy of letting the market rebalance itself out on its own appeared to be working.
Brent was up 25 cents, or 0.5%, at $49.97 a barrel by 9:55GMT, or 5:55AM ET, after rising to a high of $50.30, while U.S. crude tacked on 20 cents, or 0.4%, to $49.21.
Traders will also eye weekly government stockpile data from the U.S. due at 15:00GMT, or 11:00AM ET, amid expectations for a drop of 2.5 million barrels.

2. ECB policy decision, Draghi in focus
The European Central Bank's interest rate decision is due at 11:45GMT, or 7:45AM ET, with most of the focus likely to be on President Mario Draghi's press conference 45 minutes after the announcement. The consensus is that the ECB will stand pat on rates and reaffirm its focus on implementing the stimulus package announced in March.
The ECB will also release updated inflation and growth forecasts, with some analysts expecting the bank to raise its projections for inflation and growth.

3. U.S. employment data due ahead of the bell
The U.S. was to release the ADP jobs report for May at 12:15GMT, or 8:15AM ET, followed by weekly jobless claims data at 12:30GMT, or 8:30AM ET.
Market players are also focusing on Friday's U.S. nonfarm payrolls report. The consensus forecast is that the data will show jobs growth of 162,000 last month, following an increase of 160,000 in April, the unemployment rate is forecast to dip to 4.9%, while average hourly earnings are expected to rise 0.2% after gaining 0.3% a month earlier.
Solid readings could further heighten expectations for a move as soon as the Federal Reserve's next policy meeting on June 14-15.
Traders are now pricing in a 20% chance for a rate hike in June and 58% in July, according to CME Group's (NASDAQ:CME) FedWatch tool. September odds were at about 66%.

4. Global stocks mostly higher ahead of key risk events
U.S. stock futures pointed to a flat open on Thursday, as market players looked ahead to key U.S. data later in the day for more clues on the Federal Reserve’s next move.
Elsewhere, European stock markets were marginally higher, as investors waited to hear about monetary policy from the European Central Bank and oil output policy from the Organization of the Petroleum Exporting Countries.
Earlier, Japan's Nikkei tumbled 2% after the government moved to delay a sales-tax hike for more than two years, bucking mostly higher markets around the region.

5. Dollar moves further away from 2-month highs
The U.S. dollar retreated further from a two-month high against a basket of major currencies early Thursday. The dollar index was down 0.15% at 95.28, moving further away from Monday’s two-month peak of 95.96.

The greenback fell to a two-week low of 108.84 against the yen and was last down 0.5% at 109.01 (USD/JPY), while the euro touched a two-week peak of 1.1220 and last traded at 1.1202, up 0.1% (EUR/USD).

                                             

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TOP CORPORATE NEWS - 1 June 2016

Petrol price up Rs2.58, Diesel hiked by Rs2.26 per litre

HPCL, BPCL, and IOC: Petrol price was hiked by Rs2.58 a litre and diesel by Rs2.26 per litre, the second increase in rates this month.

Petrol will cost Rs 65.60 per litre in DELHI after the increase while diesel will cost Rs53.93/litre.

RBI allows Axis Bank raise foreign shareholding to up to 62%

Reserve Bank of India (RBI) has allowed Axis Bank to raise foreign shareholding to up to 62%, from the earlier limit of 49%, as per reports.

Foreign institutional investors (FIIs)/registered foreign portfolios investors (RFPIs) can now invest from the existing 49% up to 62% of the paid-up capital of Axis Bank under the Portfolio Investment Scheme (PIS), RBI said in a notification.

Strong Q4 FY16 GDP growth of 7.9%

The Q4 GDP growth were also strong at 7.9% with Farm sector up 2.3% against (-1%) qoq while the GVA was at 7.2%.

The Q2 FY16 GDP nos have been revised to 7.5% from 7.6% and Q3 FY16 GDP nos have been revised to 7.2% from 7.3%.

Manufacturing grew 9.3% while Construction grew by 4.5%.

Zydus gets USFDA nod for Amantadine Capsules

Leading pharma company, Zydus Cadila has said that it has received the final approval from the USFDA to market Amantadine Hydrochloride Capsules USP, 100 mg.

The estimated sale for Amantadine Hydrochloride Capsules USP as per IMS (MAT April 2016) is $ 40.1 million. The drug which is used in the treatment of Parkinson's disease and select viral infections will be produced at the group's formulations manufacturing facility at the Pharma SEZ in Ahmedabad.

Eicher Motors May 2016: 2 wheelers Sales Volumes grow by 37.5%

Eicher Motors: May 2016 2 wheelers Sales Volumes grow by 37.5%: In line with estimates.

Eicher Motors 2 wheelers division (Royal Enfield) sales volumes for the month of May 2016 were up 37.5% YoY. The numbers were broadly in line with our estimates.

The strong demand for cruiser bikes, a segment where the company is a market leader has resulted in a strong monthly volumes.

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TOP CORPORATE NEWS- 31 May 2016

Sun Pharma drops on lower than expected Q4FY16 profit

Shares of Sun Pharma dropped 6% to Rs760 on NSE as the Q4FY16 profit was lower than expectation due to forex loss (in Taro); Buyback expectations could support valuations in the near term.

India sales at Rs1, 807 crores, up by 17% over Q4 last year.

US finished dosage sales at US$ 580 million up by 19% over Q4 last year. US sales include the benefit of the 180-day exclusivity for gGleevec which commenced from 01-Feb-2016.

Emerging Markets sales at US$ 124 million. Rest of World sales at US$ 79 million.

R&D investments at Rs711 crore, 9.6% of net sales

EBITDA at Rs2, 300 crore, resulting EBITDA margin of 31%.

Net profit for the quarter was at Rs1, 714 crore.

Bata India Q4: Net Profit -52.2% at Rs27.9 Cr

Bata India Q4: Net Profit -52.2% at Rs 27.9 Cr Vs Rs 58.4 Cr (YoY)

Total Income +10.9% at Rs 545.7 Cr Vs Rs 491.3 Cr

EBITDA +17.9% At Rs 55.3 Cr vs Rs 46.9 Cr (YoY)

EBITDA Margin At 10.2% Vs 9.5% (YoY)

L&T's arm enters into agreement with Parsons

Leading Engineering & Construction Company, L&T Hydrocarbon Engineering (LTHE) has announced that it has entered into a teaming agreement with Parsons to provide engineering and design solutions for onshore and offshore projects across the hydrocarbon, fertilizer, chemicals, and modular plant sectors.

LTHEs' broad range of offerings across the hydrocarbon spectrum coupled with Parsons' strong program management capabilities in the Americas will provide a compelling value proposition to our customers.

SAIL Q4: Net Loss at Rs1, 230.9 Cr Vs Profit of Rs334.2 Cr (YoY)

SAIL Q4: Net Loss at Rs1, 230.9 Cr Vs Profit of Rs334.2 Cr (YoY)

EBITDA Loss at Rs 1,123.4 Cr Vs EBITDA Profit Of Rs 10,914 Cr (YoY)

Total Income -1.9% at Rs 11,371.7 Cr Vs Rs 11,590.6 Cr (YoY)

GAIL starts drilling 2nd exploratory well at Cambay basin

GAIL (India) Ltd has said that it has started drilling its second exploratory well as an operator in its New Exploration Licensing Policy – IX block at the Cambay Basin.

The well is situated in the Nabhoi village in Tarapur Tehsil of Anand District in Gujarat. The ‘spudding’ operations started on May 27.

The first well was spud in this block on March 27. Drilling of a target depth of 2,200 meters of this well is scheduled to be completed in 30 to 35 days.

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