Markets to start the new series on flat-to-positive note

27 Oct 2017 Evaluate

The Indian markets recovering from the early weakness surged in last session to snap the October F&O series on record high levels. Today the start of the new series is likely to be in green and the markets will be extending their winning streak amid positive global cues. Markets will be getting some encouragement with credit rating agency Fitch report that the recent recapitalisation plan announced by the government for public sector banks will provide substantial funds to the lenders to address the capital shortages that has a major negative impact on their ratings. There will be some buzz in the market with the markets regulator Sebi revising the framework for 'block deals' by providing two separate trading windows of 15 minutes each and increasing the minimum order size to Rs 10 crore. The move is aimed at ensuring confidentiality of the large trades and stable prices for such transactions. The power sector stocks will be in action, as the Power Minister R.K. Singh has said that the government is working to make obligations under power purchase agreement (PPA) statutory binding, ensuring all discoms have PPAs to cover 100 percent requirement.

The US markets made a mixed closing despite some positive economic reports and some better-than-expected corporate results, also the House of Representatives passed a budget blueprint, paving the way for the Senate to eventually pass a tax-reform package by a simple majority. The Asian markets have made jubilant start with some indices trading higher by around a percent, led by technology stocks taking cues from some upbeat earnings, while the congressional action on tax reform in US too boosted confidence in the growth outlook.

Back home, extending their northward journey for fourth straight session, Indian equity benchmarks ended the F&O expiry day in green terrain, hitting fresh record highs with Sensex and Nifty surpassing their crucial 33,100 and 10,300 levels for the first time, respectively. Markets started on sluggish note, as sentiments remained dampened with Chief Economic Adviser Arvind Subramanian’s statement that bad loans and stressed assets in Indian Banks are estimated at Rs 10 lakh crore ($153.49 billion). Traders also remained on sidelines with a recent poll showing that India’s economy will likely grow at its slowest pace in four years this fiscal year, as a currency ban and the new Goods and Services Tax (GST) have disrupted business activity and dampened consumer demand. The poll enlightened that Asia’s third-largest economy will grow at 6.7 percent in the fiscal year ending March 2018, the slowest since the new methodology of measuring gross domestic product (GDP) was introduced in the 2014-15 fiscal year. However, domestic gauges took U turn and entered into green terrain in noon deals to end near intraday highs, as traders turned optimistic with DIPP Secretary Ramesh Abhishek stating that India’s ranking may improve significantly in the World Bank’s ease of doing business report on the back of reforms initiated by the government. He also said that the introduction of GST is bound to be a ‘gamechanger’ for India’s economy despite the expected initial hiccups, which are being addressed by the government. Some support also came with private report stating that the recapitalisation programme for public sector banks is likely to boost equity market sentiment as it fuels growth recovery hopes, but should be followed up with structural changes at such banks for better results. Meanwhile, S&P Global Ratings’ report highlighting that Rs 2.11 lakh crore capital infusion into PSU banks will help dealing with bloated balance sheet and enable banks to take haircuts on their non-performing loans. Finally, the BSE Sensex surged 104.63 points or 0.32% to 33,147.13, while the CNX Nifty was up by 48.45 points or 0.47% to 10,343.80.

SEBI Registered: Investment Adviser - INA000013323

Name of the IA registered with SEBI:	The Alchemists Ark Pvt. Ltd.
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Trade/Brand Name of IA:	MoneyWorks4Me Investment Advisers
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SEBI Registration Number:	INA000013323 Validity - May 16, 2019 - Perpetual
Registration:	Non-Individual
BSE Enlistment No:	1187
Address:	B-101, Signet Corner Building, Balewadi Phata, Baner, Pune, Maharashtra 411045
Compliance officer Details:	Name: Shrikant Jagtap Email: shrikant.jagtap@moneyworks4me.com Telephone: +919860359463 Address: Same as IA
Grievance Officer Details:	Name: Mukta Vaze Email: mukta.vaze@moneyworks4me.com Telephone: +91 98609 19463 Address: Same as IA
Principal Officer Details:	Name: Atharva Bhide Email: atharva.bhide@moneyworks4me.com Telephone: +91 91758 99463 Address: Same as IA
Standard Warning:	Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Disclaimer:	Registration granted by SEBI, enlistment with exchange and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

Warning: Investment in securities market are subject to market risks. Read all the related documents carefully before investing.

Disclaimer: Registration granted by SEBI, membership of BASL (in case of IAs) and certification from NISM in no way guarantee performance of the intermediary or provides any assurance of returns to investors.

Compliance Officer:

Name: Shrikant Jagtap

Email: shrikant.jagtap@moneyworks4me.com

Mobile No: +91 97638 00745

Grievance Officer:

Name: Mukta Vaze

Email: mukta.vaze@moneyworks4me.com

Mobile No:+91 98609 19463

Principal Officer:

Name: Atharva Bhide

Email: atharva.bhide@moneyworks4me.com

Mobile No:+91 91758 99463

SEBI regional/local office address -

Plot No. C 4-A , G Block, Near Bank of India, Bandra Kurla Complex, Bandra East, Mumbai, Maharashtra 400051

Address:

The Alchemists Ark Pvt. Ltd., B-101, Signet Corner Building, Balewadi Phata, Baner, Pune, Maharashtra 411045

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