India Morning Report: Markets rest at new record levels, Banks catch fire

Except of course, Bank of Baroda and Bank of India, the PSU Banks who along with All Bank are in front of the NPA tether and are likely to again underperform in results announcements today undermining the market’s expectations with a definite taste of the macabre doing the paperwork accounting for to decades of profligate lending. In more operational markets language, others like Dr Reddy’s also hold the key to big moves as markets let go of smaller volume picks not in fashionable upside with institutional investors chasing Indian weightage in their indexed EM funds. That of course includes Hero losing share to Honda and Maruti making 3X profits with the Yen a big part of the story this quarter.

English: MSCI Logo

English: MSCI Logo (Photo credit: Wikipedia)

IDFC is likely to get a good post results after taste into portfolios (despite its ext from MSCI) and so it will be crucial that it comprehensively outperform as foreign investors come back to India bonds and equities unconcerned about coalitions and hung parliaments. The No Taper refinement yesterday was not material to their return either though it is not a carte blanche as the more optimistic from Asia might have expected of Lady Yellen.

Cipla bore a heavy brunt of the funding trade and drags some of the other (Lupin) Pharma choices with it while Glenmark and Cadila will continue carrying the market flag with meaningful bumps from export earnings and real greenfield growth in market development the mid cap strs have shown to be ey

The expiry day seems to be ignoring the 6350 target in the morning session but it may just become a case of having decided on its own expectations for these results candidates. Retail investors shuld not be expected to return in the middle of Diwali spending season or even otherwise. The Indian AMCs have together more than INR 8 Tln under their belt currently and like the taste for FIPS showed are not averse to increasing enchantment with Balanced Funds as Bond markets xpand(General direction ypothesis to play out till 2025)and pension players get active taste of equities along the general direction set back in 1993/2001

Banking hopefuls like Magma Fincorp and Muthoot report results as things look to get better for NBFCs. Now is a good time to load u on infra NBFCs both Powergrid and REC/PFC/PTC

As mentioned yesterday Bharti has crossed  a rubicon with Africa markets reporting profits as new Telecom auctions also level down on expected prices in domestic circles

 

Advertisements

5 thoughts on “India Morning Report: Markets rest at new record levels, Banks catch fire

  1. Pingback: India Morning Report: A post festival dawn, markets churning sector and memes | The India Investment Post (earlier india.advantages.us)

  2. Pingback: India Morning Report: State Bank gets ready to report with PNB carnage still fresh | The India Investment Post (earlier india.advantages.us)

  3. Pingback: India Morning Report: State Bank and Maruti not the best indicators for India Inc | The India Investment Post (earlier india.advantages.us)

  4. Pingback: India Morning Report: Powergrid 75 Lac shares on offer, LIC and IDFC better picks | The India Investment Post (earlier india.advantages.us)

  5. Pingback: India Morning Report: Market correction sows signs of split down the middle? | The India Investment Post (earlier india.advantages.us)

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s