Indian Markets May Trade High On Strong Global Cues As President Trump Agreed To Delay An Additional Increase In Tariffs On Chinese Goods

Stock Market Today by Shailesh Saraf – 12th September 2019

Indian markets may trade high today on strong global cues as President Trump agreed to delay an additional increase in tariffs on Chinese goods by two weeks. Overnight, U.S. markets rose as President Trump called for zero percent interest rates and China granted tariff exemptions for 16 types of American-made products as a sign of goodwill ahead of the next round of trade talks.

Upcoming Events

The Indian benchmark index Nifty, had made recent low of 10637 on 23rd August and is currently trading at 11076, thereby rising around 430 points. The Small Cap Index also has risen more than 500 points from its low of 5115 made on 23rd August. We expect Nifty to touch 11142 level, which is its two weeks high.

1. There has been lots of hope on GST council meeting scheduled on 20th September 2019.

2. RBI will announce its monetary policy on 30th Sep 2019 which can be another trigger for the market.

3. On 18th Sep 2019 US Federal Reserve will announce its monetary policy.

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Sector Analysis:

Market continued to be positive yesterday. Top 5 major sectors were Metals and Mining (3.73%), Realty (3.04%), Automobiles & Auto Parts (2.89%), Fertilisers (2.64%) and Chemical (2.62%). Top 5 minor sector were Sugar (11.99%), Carbon (4.79%), Paper (4.67%), Telecom (3.62%) and Packaging (3.41%).

Top 5 companies were Dalmia Bharat Sugar and Industries (19.68%), Thirumalai Chemicals (18.44%), Dhampur Sugar Mills (17.44%), Butterfly Gandhimathi Appliances (17.13%) and Orient Paper & Industries (14.83%).

US Data

The US 10 Year T-Note is trading at 129.74. The Bond has crucial support at 117.42 made on 5th Nov 2018. The US Dollar Index is trading at 98.625.

Sector performance as on 11th September

Sector performance as on 11th September

Small Cap Gainers as on 11th September

Small Cap Gainers as on 11th September

Large Cap Gainers & Losers as on 11th September

Large Cap Gainers & Losers as on 11th September

Mid Cap Gainers & Losers as on 11th September

Mid Cap Gainers & Losers as on 11th September

Market Guru’s Stock Picks

Joel Greenblatt (born December 13, 1957) is an American academic, hedge fund manager, investor, and writer. He is a value investor, is an alumnus of the Wharton School of the University of Pennsylvania, and adjunct professor at the Columbia University Graduate School of Business. He is the former chairman of the board of Alliant Techsystems and founder of the New York Securities Auction Corporation. He is also a director at Pzena Investment Management, a high-end value firm.

In 1985, Greenblatt started a hedge fund Gotham Capital, with $7 million, with his partner, Robert Goldstein. Through his firm Gotham Capital, Greenblatt presided over an annualized return of 40% from 1985 to 2006.In October 2009 he launched Magic Formula Investing, an online money management firm that follows the investment strategy described in his New York Times bestselling book The Little Book That Beats the Market which has 300,000 copies in print. The "Magic Formula," as he called it, produced back-tested returns of 30.8 percent per year from 1988 through 2004, more than doubling the S&P 500's 12.4 percent return during that time. Today, he is the co-chief investment officer and the managing principal of its successor, called Gotham Asset Management. Since its inception in August 2012 through 2018, Gotham Absolute Return fund delivered a return of 58.6%. As in 2019, Gotham, manages funds Value $6.27 Billion.

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