10:30am FII View
Jonathan Garner, Morgan Stanley says main model changes this month are to
upgrade India to overweight and downgrade Brazil back to underweight, taking us
more overweight on Asia and underweight on EMEA and Latin America.
"In part, this change is due to our introduction of a new
"thematic sensitivity" factor into our model designed to capture the
impact of two major top-down themes - a lower oil price and the impact of a
sharply rising US Dollar on external debt service payments," he adds.
"Frustratingly, our model process failed to generate alpha from India
last year, as it spent the entire year equalweight. Two key factors where India
scored poorly remain weak spots: relative valuations & positioning,"
Garner says.
10:00am Market Check
Equity benchmarks continued to see marginal gain in morning trade. The
30-share BSE Sensex rose 109.86 points to 29388.70 and the 50-share NSE Nifty
climbed 19.35 points to 8854.95.
The broader markets outperformed equity benchmarks as the BSE Midcap and
Smallcap indices gained 0.8 percent and 0.5 percent, respectively. About 1156
shares have advanced while 821 shares declined on the Bombay Stock Exchange.
Maruti Suzuki rose over a percent ahead of third quarter earnings today. A expects
the car maker's profit to jump 29 percent year-on-year to Rs 875 crore and
revenue to increase 13.4 percent to Rs 12,352 crore from Rs 10,893.8 crore year-on-year.
Idea Cellular also gained 1 percent as third quarter profit of the telecom
operator may jump 3.8 percent sequentially to Rs 785 crore and revenue may
increase 5.4 percent to Rs 7,981 crore. More information please visit this site
www.bigprofitbuzz.com
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