Sensex Nifty settle on a flat note; HUL, ITC top gainers

After making strong opening on Friday trading session, Indian markets ended on a flat note. 

Sensex finished at 30,464.92 above 30 points or 0.10%, while Nifty closed at 9,427.90 down 2 points or 0.02%. 

Top gainers on BSE were - ITC at Rs 287.25 a piece (3.31%), Hindustan Unilever at Rs 1010 a piece (2.29%), State Bank of India at Rs 308.70 a piece (1.90%), Axis Bank at Rs 501 a piece (1.86%) and Cipla at Rs 564 a piece (0.96%). 

Losers involved - Asian Paints at Rs 1129 a piece down 1.84%, followed by M&M at Rs 1331.10 a piece (1.57%), TCS at Rs 2495 a piece (1.54%), Gail India at Rs 399.15 a piece (1.48%) and Power Grid at Rs 205.55 a piece (1.23%).

Analysis and reports of HUDCO listing from BSE.

JK Tyre on Friday reported 28% decline in consolidated net profit for the fourth quarter ended March 2017, period. 

The company posted net profit of Rs 89.48 crore, declining by 27.50% from Rs 123.43 crore in the corresponding period of the previous year. 

However, total income stood at Rs 2,356.33  crore, rising by 22.90% year-on-year and 18.29% quarter-on-quarter. 

Share price of the company was trading slightly up by 0.92% on BSE at Rs 176.35 per piece.

Experts outlook and suggestion for trade on Nifty.

Shares of SBI clocked a 52-week high of Rs 31150 per piece after the bank posted 123% rise in its net profit for the fourth quarter ended March 31, 2017 period. 

The bank posted net profit of Rs 2,814.82 crore in Q4, rising by 122.72% compared to Rs 1,263.81 crore in the corresponding period of the previous year.

In percentage terms, gross NPAs stood at 6.90% versus 6.50% of Q4FY16 and 7.23% of Q3FY17 – expanded by 40 basis points yoy.

At 1252 hours, SBI was trading at Rs 311.50 a piece on BSE, surging over Rs 9 or 2.89%.

Rajesh Exports on Friday said that it has procured a prestigious order for its product worth Rs 1140 crore. 

The company will excute the order from its Bangalore facility with a processing capacity of 250 tons of jewelry and gold products per annum. 

The order is expected to complete by end of September 2017. Now the order book of Rajesh Exports stands at a consolidated level of Rs 36,820 crores. 

At 1200 hours, Rajesh Exports was trading at Rs 635.50 a piece on BSE, up 0.54%.

GST tax rates on several items.

Housing and Urban Development in its market debut soared by nearly 29% trading at Rs 77.10 per piece on BSE. 

The stock price of HUDCO got listed at Rs 73.45 per piece, at a premium of 22.41% from its initial public offering (IPO) issue price of Rs 60 a piece. 

HUDCO opened for subscription on May 8, 2017 and was available for three-days period closing on March 11, 2017. 

Issue size of the IPO was between Rs 1,128 crore – Rs 1,224 crore. 

FMCG stocks were the top gainers on Nifty after GST council sets rate for 1,211 items on Thursday. 

Nifty FMCG was cheered by investors so much so that it was trading over 4%. At 1047 hours, the index soared over 868 points or 3.64% trading at 24,732.30. 

All stocks were trading positive on the index, with ITC and Hindustan Unilever Limited touching 52-week high of Rs 295.65 per piece and Rs 1,022.75 per piece  respectively. 

Best performers were - ITC trading at Rs 292.05 a piece up 5.09%, followed by Colgate Palmolive at Rs 1,020.40 a piece (4.12%), Marico at Rs 317.50 a piece (3.89%), Britannia Industries at Rs 3,665 a piece (3.08%), Tata Global Beverages at Rs 151.40 a piece (2.64%), Emami at Rs 1,109.10 a piece (2.41%), Dabur India at Rs 278.05 a piece (2.19%) and Hindustan Unilever at Rs 1,011.10 a piece (2.11%). 

Other gainers were - Godrej Consumer Products at Rs 1,807 a piece (1.69%), Jubilant Foodworks at Rs 1,030.80 a piece (1.12%) and Godrej Industries at Rs 580.65 a piece (1.05%).

The Indian rupee was trading at 64.803 down 0.107 paisa or 0.17% against US dollar.

Indian markets made a positive opening and rebounded on Friday despite mixed global cues. 

Investors boosted Sensex, Nifty in the start of the trading session after when the GST council on Thursday had finalised tax rates on 80-90% of goods and services under the four-slab structure with essential items of daily use being kept in the lowest bracket of 5%. 

At 9.21 am, Sensex was trading at 30,650.29 above 215 points or 0.71%, while Nifty was trading at 9,477.85 up 48 points or 0.51%.

HDFC Securities said, "For our markets, the announcement of GST rates for some Industries late Thursday , will buoy our markets when they open this morning. The announced rates are lower than the current ones, especially for some FMCG products.

Key events to watch: 

Ministry of Commerce & Industry will release India's eight core industries data for the month of April 2017, later on Friday. 

Major companies that will present their fourth quarter ended results are - State Bank of India (SBI), Abbot India, Glaxosmithkline Pharmaceuticals, Motherson Sumi, Tata Power and Union Bank.

In pre-market opening, Sensex was trading at 30,456.94 up by 22 points or 0.07%.

Stocks that will be in focus are: 

Aviation Stocks - Indian domestic carriers recorded a passenger growth grew by 17.71% higher than the same period in the previous year, Directorate General of Civil Aviation (DGCA) said in a report on Thursday.

Bajaj Auto -  The company posted standalone net profit of Rs 801.82 crore, recording decline of 15.53% compared to Rs 949.33 crore in the corresponding period of the previous year.

CESC - In a BSE filing on Thursday, the company said its board approved de-merger of some business into units.Under this plan, CESC will merge Infra unit, Spencer retail, music world self and split shares into 2 to consolidate later.

Axis Bank - The bank on Thursday trimmed down its home loan rate up to 0.30%. New rates which are effective from May 16, the rate of home loans under Rs 30 lakh by salaried borrowers has been reduced by 0.30% to 8.35%. So far, ICICI Bank, HDFC Bank and State Bank of India has brought down their home loan rates this month. 

Karur Vysya Bank - The bank posted net profit of Rs 217.56 crore in Q4FY17, rising by 57.65% against Rs 138 crore during the corresponding quarter of the earlier fiscal.

Cummins India - The company’s gross sales of the for Q4FY17 stood at Rs 1,239 crore, which grew by 11% as compared to Rs 1,114 crore recorded in the same period last year.

Indian markets may open between flat and positive amid mixed global cues investors were cautious due to uncertainties surrounding President Donald Trump after reports he tried to influence a federal investigation. 

On Thursday, Sensex ended at 30,434.79 below 224 points or 0.73.%, while Nifty finished at 9,429.45 down 97 points or 1.01%. 

The broader markets under performed benchmark indices with the S&P BSE Mid cap index and S&P BSE Small cap down 2% and 1.3% respectively.  NSE cash turnover was at Rs. 27, 359 crore.

HDFC Securities said,"If Nifty trades above 9420 level then traders could expect positive move in the Nifty towards 9475 followed by 9520 level. If Nifty sustains trades 9420 level for first hour of trade then traders may see down move, which could take Nifty towards 9380 level followed by 9340 level."