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    Market Outlook 20th March 2012

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    Angel Broking
    The Indian markets are expected to open flat, tracking mixed trends in Asian markets. Globally, US stocks ended higher on Monday. In India, markets fell sharply on Monday due to concerns about meeting fiscal deficit targets and accelerating inflation. Key stocks like RIL and Tata Motors announced developments. RIL's gas output from its key fields hit an all-time low, while Tata Motors hiked prices of its vehicles to pass on higher excise duties. The report provides technical analysis indicators to gauge market trends.

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    Market Outlook 20th March 2012

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    Angel Broking
    474 views3 pages
    The Indian markets are expected to open flat, tracking mixed trends in Asian markets. Globally, US stocks ended higher on Monday. In India, markets fell sharply on Monday due to concerns about meeting fiscal deficit targets and accelerating inflation. Key stocks like RIL and Tata Motors announced developments. RIL's gas output from its key fields hit an all-time low, while Tata Motors hiked prices of its vehicles to pass on higher excise duties. The report provides technical analysis indicators to gauge market trends.

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    The Indian markets are expected to open flat, tracking mixed trends in Asian markets. Globally, US stocks ended higher on Monday. In India, markets fell sharply on Monday due to concerns about meeting fiscal deficit targets and accelerating inflation. Key stocks like RIL and Tata Motors announced developments. RIL's gas output from its key fields hit an all-time low, while Tata Motors hiked prices of its vehicles to pass on higher excise duties. The report provides technical analysis indicators to gauge market trends.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    474 views3 pages

    Market Outlook 20th March 2012

    Uploaded by

    Angel Broking
    The Indian markets are expected to open flat, tracking mixed trends in Asian markets. Globally, US stocks ended higher on Monday. In India, markets fell sharply on Monday due to concerns about meeting fiscal deficit targets and accelerating inflation. Key stocks like RIL and Tata Motors announced developments. RIL's gas output from its key fields hit an all-time low, while Tata Motors hiked prices of its vehicles to pass on higher excise duties. The report provides technical analysis indicators to gauge market trends.

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    Download as PDF, TXT or read online from Scribd
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    of 3

    Market Outlook

    India Research
    March 20, 2012

    Dealers Diary
    Domestic Indices Chg (%) (Pts) (Close)

    The Indian markets are expected to open flat today tracking flat to negative opening across most of the Asian bourses. Globally, US stocks edged mostly higher over the course of the trading session on Monday and ended the day in green extending the strong upward move seen in last week. The markets continued to benefit from optimism about the economic outlook as well as some upbeat corporate news. The European bourses ended the trading session slightly downside on Monday after IMF chief remarks on slowing growth concerns in China-worlds second largest economy cautioned investors. On Monday, Indian markets fell sharply as apprehensions about governments capability to meet fiscal deficit targets as promised in the current challenging macro scenario increased. Sentiments were also affected to some extent following a data release by Government which indicated acceleration in price levels in February as headline retail index based on CPI rose by 8.86% in the month as against 7.65% in the previous month. Indian markets have now broadly come to terms with the budget proposals and will closely seek directions from domestic as well as global developments.

    BSE Sensex Nifty MID CAP SMALL CAP BSE HC BSE PSU BANKEX AUTO METAL OIL & GAS BSE IT Global Indices Dow Jones NASDAQ FTSE Nikkei Hang Seng Straits Times Shanghai Com

    (1.1) (192.8) 17,273 (1.1) (1.0) (1.1) 0.0 (60.9) (61.0) (72.2) 1.7 5,257 6,301 6,632 6,356 7,352

    (1.7) (130.0) (0.4) (0.7)

    (2.0) (232.9) 11,737 (37.9) 10,117 (85.2) 11,430 8,136 5,969


    (Close)

    (1.3) (104.7) (1.7) (100.3)


    Chg (%) (Pts)

    0.1 0.8 (0.1) 0.1 (0.7) 0.2

    6.5 13,239 23.1 (4.5) 3,078 5,961

    Markets Today
    The trend deciding level for the day is 17,354/ 5,279 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 17,481 17,689 / 5,319 5,381 levels. However, if NIFTY trades below 17,354 / 5,279 levels for the first half-an-hour of trade then it may correct up to 17,146 17,019 / 5,217 5,177 levels.
    Indices SENSEX NIFTY S2 17,019 5,177 S1 17,146 5,217 PIVOT 17,354 5,279 R1 17,481 5,319 R2 17,689 5,381

    12.2 10,142 (20.6) 5.5 2,990 2,410

    (1.0) (202.6) 21,115

    Indian ADRs

    Chg (%)

    (Pts)

    (Close)

    INFY WIT IBN HDB

    (1.1) (0.1) (1.7) (1.4)

    (0.7) (0.0) (0.6) (0.5)

    $58.1 $10.9 $36.7 $33.3

    News Analysis

    RIL's KG-D6 output hits all-time low Tata Motors announces price hikes

    Advances / Declines Advances Declines

    BSE

    NSE

    detailed news analysis on the following page

    1,000 1,885 100

    423 1,025 48

    Net Inflows (March 16, 2012)


    ` cr FII MFs Purch 3,490 567 Sales 2,572 885 Net 919 (318) MTD 7,433 (904) YTD 43,731 (4,931)

    Unchanged

    Volumes (` cr) BSE

    2,401 11,002

    FII Derivatives (March 19, 2012)


    ` cr
    Index Futures Stock Futures

    NSE

    Purch 2,693 1,823

    Sales 3,020 1,978

    Net (327) (155)

    Open Interest 16,282 29,972

    Gainers / Losers
    Gainers Company
    Mcleod Russel JP Infratech ING Vysya Bank Opto Circuits India Sec

    Losers Company
    Shree Renuka Sug HDIL Canara Bank Reliance Infra India Infoline

    Price (`)
    248 50 347 278 58

    chg (%)
    3.5 3.5 3.1 2.3 2.3

    Price (`)
    34 92 461 595 67

    chg (%)
    (7.8) (7.7) (6.1) (6.0) (5.9)

    Please refer to important disclosures at the end of this report

    Sebi Registration No: INB 010996539

    Market Outlook | India Research

    RIL's KG-D6 output hits all-time low


    Reliance Industries' (RIL) largest gas fields in the KG-D6 gas block have hit an alltime low production of 28mmscmd as the firm shut six wells due to water and sand ingress. Dhirubhai 1 and 3 gas fields in the eastern offshore KG-DWN-98/3 output plummeted to 28mmscmd during the week ending March 4, 2012. Including the gas production of 6.5mmscmd from MA fields, total production from KG-D6 block averaged 35mmscmd (significantly below field development plan approved during 2006 of 70mmscmd) during the same week. We continue to await further clarity on the sustainable levels of production from KG-D6 block. Meanwhile, we maintain Buy on the stock with a target price of `923.

    Tata Motors announces price hikes


    Tata Motors has increased the prices of all its products in passenger vehicle segment in the range of `2,000 to `8,000 and in the utility segment in the range of `8,000 to `35,000. The hike has been effected to pass on the excise duty increase announced in The Union Budget 2012-13. Budget had proposed to raise the excise duty by 200bp from 10% to 12%. It also had proposed to increase the excise duties for petrol cars with engines under 1,200cc and diesel cars with engine capacity under 1,500cc, but the length exceeding four metres to 24% from 22% earlier along with a fixed duty of `15,000. Whereas petrol and diesel driven vehicles having length exceeding four metres and engine capacity of over 1,200cc and 1,500cc respectively the excise duty has been proposed at 27% from 22% earlier along with a fixed duty of `15,000. We expect other auto companies to follow suit and increase prices so as to protect their margins. At CMP, the stock is trading at 7.4x FY13E earnings. We maintain our Accumulate rating on the stock with Target Price of `308.

    Economic and Political News


    Inflation may fluctuate for couple of months: Pranab Mukherjee Retail inflation based on CPI came at 8.83% in Feb Govt. seeks nod for `4,30,000cr of additional expenditure in FY2011-12 Food bill to entail `1,12,000cr subsidy burden

    Corporate News

    Car sales growth to stay positive in FY2012: SIAM DoT to finish spectrum auction by February next year: Finance Ministry Power producers oppose any hike in gas prices No immediate price cuts on branded garments: Retailers CIL earns `4,900cr more in e-auction of coal ONGC to invest `2,600cr in gas fields development Kingfisher's flying permit may be cancelled

    Source: Economic Times, Business Standard, Business Line, Financial Express, Mint

    March 20, 2012

    Market Outlook | India Research

    Research Team Tel: 022 - 39357800

    E-mail: research@angelbroking.com

    Website: www.angelbroking.com

    DISCLAIMER
    This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment decision. Nothing in this document should be construed as investment or financial advice. Each recipient of this document should make such investigations as they deem necessary to arrive at an independent evaluation of an investment in the securities of the companies referred to in this document (including the merits and risks involved), and should consult their own advisors to determine the merits and risks of such an investment. Angel Broking Limited, its affiliates, directors, its proprietary trading and investment businesses may, from time to time, make investment decisions that are inconsistent with or contradictory to the recommendations expressed herein. The views contained in this document are those of the analyst, and the company may or may not subscribe to all the views expressed within. Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and trading volume, as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's fundamentals. The information in this document has been printed on the basis of publicly available information, internal data and other reliable sources believed to be true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this document is for general guidance only. Angel Broking Limited or any of its affiliates/ group companies shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report. Angel Broking Limited has not independently verified all the information contained within this document. Accordingly, we cannot testify, nor make any representation or warranty, express or implied, to the accuracy, contents or data contained within this document. While Angel Broking Limited endeavours to update on a reasonable basis the information discussed in this material, there may be regulatory, compliance, or other reasons that prevent us from doing so. This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced, redistributed or passed on, directly or indirectly. Angel Broking Limited and its affiliates may seek to provide or have engaged in providing corporate finance, investment banking or other advisory services in a merger or specific transaction to the companies referred to in this report, as on the date of this report or in the past. Neither Angel Broking Limited, nor its directors, employees or affiliates shall be liable for any loss or damage that may arise from or in connection with the use of this information. Note: Please refer to the important `Stock Holding Disclosure' report on the Angel website (Research Section). Also, please refer to the latest update on respective stocks for the disclosure status in respect of those stocks. Angel Broking Limited and its affiliates may have investment positions in the stocks recommended in this report.

    March 20, 2012

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