Skip to main content

HSBC - view on Indian Markets

HSBC is surprised about Indian Fund Managers and Investors' bullishness.Their take on Indian Markets : Indian investors must be the only bulls left in the world.We think their expectations of lower rates and strong earnings are over-optimistic. We remain underweight .Elsewhere bears are ubiquitous, but behaviour has not become ultra-bearish yet.

The worst is not, so long as we can say “This is the worst” (Shakespeare, King Lear).

They are an increasingly rare breed, but we have found a herd of them at last – bulls, that is. In marketing trips over the past few months to the US, Europe and around Asia (even in China and Korea) we do not remember meeting a single bullish investor. Some fund managers have been less bearish than others, but we do not recall a single one telling us they had a high conviction that stocks would rise strongly over coming months.
We were shocked, then, to find in meeting fund managers in India this week that perhaps two-thirds are outright bullish, some extremely so, and many are puzzled as to why the Indian market has fallen at all this year and why foreigners have been net sellers. Their bullishness is perhaps understandable when you look at how strongly the Indian market has performed in the past two months, outperforming MSCI Asia ex Japan by 25% and enjoying a nice summer rally while that in the rest of the region petered out.
They are also enjoying the luxury of net inflows: Indian domestic equity funds have seen average monthly inflows of INR39bn this year, compared to INR20bn last year
Outside of India, bulls are non-existent. But, while investors may talk bearishly, they have not necessarily acted that way yet. Mutual fund cash holdings, hedge fund returns and analysts’ recommendations have all become a little more bearish in recent months, but none are at capitulation levels yet. The bear market goes on.
Capitulation is yet to happen

Comments

Popular Posts

Your Bill Amounts Are Going To Increase From June 1, 2016

Service tax is a tax levied by the government on service providers on certain service transactions, but is actually borne by the customers. It is categorized under Indirect Tax and came into existence under the Finance Act, 1994. Union Finance Minister, Arun Jaitley, in his budget announcements proposed to impose a cess, called the Krishi Kalyan Cess, @ 0.5% on all taxable services. The present rate of service tax will be hiked to 15 per cent from June 1, 2016, from 14.5 per cent. Take a look at what gets expensive:



Phone Bills: Your phone bills are going to go up. So, pay a good 15 per cent now on service tax on phone bills.

Restaurant Bills :If you are dining in a restaurant that already has service tax applicable, you are going to pay more on your eating out. Though 0.5 per cent on a single bill may not mean much, frequent diners may end-up paying a lot during the year.

Travelling: You will have to pay more for air travel, as there is a service tax on tour operators and travel agents.

Moneycontrol Terminal - Streaming Live Quotes

Moneycontrol has introduced a new feature Moneycontrol Terminal - an enhanced version of real time price updates. Though there were live quotes provided by the website previously, the present form  gives a better update of live quotes of indices and stocks.

This terminal provides live streaming quotes for both NSE and BSE free. It also provides quotes for most of the indices and also the constituents/stocks of the indices in BSE and NSE.  The terminal also provides live news and other market news, which might be useful for traders. The hardware recommended is minimum of 1 GB RAM.

It would be better if stock of any choice could be added ( market watch of a set of stocks ), which would be easier to track one's trading positions. Anyway, this is a better alternative for people who don't have access to any trading software, to view live action of the markets.




You could just try the same here at Moneycontrol Terminal


NSE Level 3 Data

Before we get into details of NSE Level 3 Data, it is important to first understand the basic operations of the stock market.  All publicly traded equities have a bid price and an ask price when they are bought and sold. The bid is the highest price a trader( or an investor) is willing to purchase a stock. The ask is the lowest price in which he is willing to sell a stock.


Depth of the Market(DOM):Looking at a Level 1, Level 2 or Level 3 quotes can give a trader, a basic idea of how a stock is performing at any given time.

Level 1 Market Data provides the basic market data which includes Bid price, Bid size, Ask price and Ask size.

Level 2 Market Data provides more information than Level I data. Mainly, it doesn't just show the highest bid and offer, but also shows bids and offers at other prices. Now level 2 provides market depth data upto 5 best bid and ask prices.

Level 3 Market Data provides market depth data upto 20 best bid and ask prices .  This primarily used by brokers and ma…