Asian Stock Market: China Push the Benchmark

Asian stocks widened gains on Friday after key economic reports from China largely met market expectations. Asian equity market pushes the benchmark to a five month high after China economic growth. As the China’s GDP jumps high in with 7.8 percent in last quarter. China’s Shanghai Composite was up 0.17 percent or 3.72 points at 2,192.26.

The GDP readings keep China on track to achieve the government's 2013 growth target of 7.5 percent, stronger than other major economies but still the worst performance for the country in 23 years. Growth in the first nine months of the year was 7.7 percent, the data from the National Bureau of Statistics showed.

With China's economic pick-up so shaky, most economists believe Chinese authorities are likely to stand still on monetary policy in the next year-and-a-half. But at the same time, few believe Beijing would dramatically loosen policy to aid growth, barring a sharp downturn.

Hong Kong’s Hang Seng rose 0.77 percent or 178.95 points at 23,273.83. (Up with 0.6%)

Japan’s Nikkei was flat at 14,595.78 (down with 0.1%)

Singapore’s Straits Times added 0.31 percent or 9.76 points at 3,196.38.

South Korea’s Seoul Composite gained 0.18 percent or 3.73 points at 2,044.34.

Taiwan’s Taiwan Weighted rose 0.26 percent or 21.45 points at 8,396.13. 

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Today’s Stock Market – A Flat Start

Indian markets end in red. Nifty, Sensex down by 0.39% and 0.29%.

The Indian markets witnessed a flat, positive opening this morning. Due to the close of Indian Stock market on Wednesday, people are rushing back to book profit. Nifty on daily charts has formed Bearish engulfing pattern and RSI is showing negative divergence. This suggest market is has formed short term top and may see some weakness ahead. However there are some positive points as well nifty has hold on to levels of 6080 on closing basis.

Asia-Pacific markets traded higher over US deal optimism. Nikkei up.

US ended up. UK’s CPI (YoY) at 2.7%. Dow futures up by 185 points.

·         NSE Gainers

COMPANY NAME	CURRENT	PREV. CLOSE(RS)	CHANG.(RS)	CHAG.(%)
Zuari Agro Chem	97.2	84.65	12.55	14.83
Phillips Carbon	38.25	34.8	3.45	9.91
Alchemist	43	39.3	3.7	9.41
KPR Mill	152.15	139.3	12.85	9.22
Vascon Engineer	21.5	20	1.5	7.5

Top 5 Nifty Gainers: JP Associates is the top gainer so far, up by 4.1%, followed by Cairn, ONGC, Ranbaxy Labs and Bajaj Auto.

Top 5 Nifty Losers: TCS has dipped by 3.8%. Tata Motors, HCL Tech, IndusInd Bank and L&T are among the other stocks that are trading lower.

The market slipped into the red after a positive start triggered by higher Asian stocks. A bout of volatility was witnessed as key benchmark indices recouped entire initial losses in morning trade. Intraday volatility continued as key benchmark indices trimmed gains after hitting fresh intraday high in mid-morning trade.

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Stock Market Closed on 16 Oct 2013-Swings between Gain and Loss

The market breadth, indicating the overall health of the market, is negative. Investors turned cautious ahead of the October 16 deadline to lift the US debt ceiling. Indian financial markets are closed on 16 October 2013, on account of Bakri Id. The rupee edged lower against the dollar.

•  Indian Rupee falls for second day ”Rupee ends at 61.8350/8450 per dlr vs 61.55/56 on Monday Oct 14
• High domestic inflation further hurts rupee sentiment
• Choppy domestic shares; broad dlr rally weighs on local unit
• Asian stocks swung between gains and losses as U.S. lawmakers resumed talks to avoid a default ahead of tomorrow’s deadline to raise the debt ceiling.

Nowadays Equity Tips are easily available for the traders by many companies. Proper understanding of the trends can only be earned by experience and focus. The trend also come when the equity market does not pullback but just keep crunching its way higher and higher… Indicators, at best, are early warning devices. They signal possible future changes in price. Due to the nature of equity market forecasting is must as to know the variability’s either up or down as in the end of one market cycle may not be similar in another.

Stock Market Prediction – Expect Profitability on October 14

Indian markets skyrocketed on Friday n buying in IT stocks as the country's second largest software exporter Infosys posted smart quarterly numbers and raised annual sales forecast, amid a firming global trend. As expected the IT companies helped the leading indices sustain the elevated levels. Indian Equity market scaled to three week high on back of strong global cues and good results delivered by Infosys.

On daily chart nifty has formed hanging man which is a reversal pattern and RSI is showing negative divergence. If we sum up all this point this hints towards some correction in market. However we need confirmation on candlestick and on closing basis. As long as nifty is holding 5970 on closing every dip would be considered as buying opportunity. For intraday Nifty has stiff resistance is around 6120-6150. On downside nifty has strong resistance around levels of 6040-6000.

Reports Suggested:

• J&K Bank is targeting to grow its post-tax profit by 25 per cent to Rs 1,300 crore.
• Ten-year U.S. Treasury future contracts for December delivery rose 3/32 to 126 7/32, based on electronic trading at the Chicago Board of Trade
• The nation’s consumer price index rose 3.1 percent from a year earlier, that excedded the 2.8 percent median estimate.
• Gold was down 0.1 percent at $1,270.61 an ounce, after slipping 3 percent last week. Silver slid 0.9 percent.
• Nickel for three-month delivery on the London Metal Exchange fell to $13,841 a metric ton while copper snapped a two-day advance. Zinc slipped 0.2 percent, dropping for the first time in seven days, and aluminum lost 0.6 percent.

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Todays Stock Market Alert-Infosys ups FY14 revenue guidance

Infosys ' second quarter net profit grew 1.5 percent quarter-on-quarter (1.6 percent year-on-year) to Rs 2,410 crore for the quarter ended September 2013, impacted by one-time visa settlement charge of Rs 219 crore. Infosys declared an interim dividend of Rs 20/share for the financial year 2013-14. The record date for the payment of dividend is October 18, 2013, says Infosys.

The stock was up 5.08% to Rs 3,283. The stock pared gains after surging as much as 7.55% at the day's high of Rs 3,360, also its 52-week high. The stock rose as much as 1.07% at the day's low of Rs 3,157.65. On a consolidated basis, Infosys' net profit rose 1.4% to Rs 2407 crore on 15.1% increase in total revenues to Rs 12965 crore in Q2 September 2013 over Q1 June 2013. The results are as per International Financial Reporting Standards (IFRS). Infosys has made a provision of Rs 219 crore towards visa related expenses in Q2 September 2013.

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