Friday, June 14, 2019

Reliance Industries, ICICI Bank drag Sensex 100 points down

Among sectoral front, realty, pharma, and media were trading lower by 1%, auto and banking fell marginally.
Equity benchmark indices open flat with negative bias amid the ongoing geopolitical tensions and persisting concerns over NBFC liquidity situation.

Reliance Industries, ICICI Bank, Kotak Mahindra Bank, and IndusInd Bank were the top contributors to the index losses, Power Grid, Bajaj Finance, HUL, and L&T was gained on the Sensex.

Among sectoral front, realty, pharma, and media were trading lower by 1%, auto and banking fell marginally.

The Sensex was trading at 39,604 levels, down 137 points, while the Nifty was trading lower 50 points at 11,864 levels. The market breadth was negative on the NSE with 563 shares advancing, 950 shares declining, and 559 remaining unchanged.

On the economy front, Wholesale Price Index (WPI)-based inflation data will be released today afternoon

The Indian rupee traded little changed at 69.57 against the U.S. dollar compared to the yesterday’s close of 69.51.

Shares of Gruh Finance dropped 7% in the morning trade after 3.08cr shares or 4.2% equity of the company changed hands in multiple block deals.

Shares of Hexaware Tech rose 2% after it has acquired US-based Mobiquity Inc for a total consideration of about $182 million (~Rs1,266cr).

The Volatility gauge, India VIX was up 1.79% at 13.90.

The most active stocks on the NSE are Gruh Finance, Indiabulls Housing, Yes Bank and IndusInd Bank.


Meanwhile, crude oil prices were trading marginally down with Brent trading 0.02% down at $61.3/bbl, while WTI dropped 0.3% at $52.12/bbl. Notably, oil prices have recovered from five-month low levels.

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Thursday, June 13, 2019

Sensex, Nifty open lower; Yes Bank at 52-week low

On the sectoral front, BSE IT, Bankex, Finance and Telecom were among falling sectors, while Oil & Gas, PSU, and Consumer Durables surged in today’s trade.
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Equity benchmark indices opened in the negative territory on Thursday amid mixed global cues and oil prices hovering at a five-month low. On the sectoral front, BSE IT, Bankex, Finance and Telecom were among falling sectors, while Oil & Gas, PSU, and Consumer Durables surged in today’s trade.

The Sensex was trading at 39,640 levels, down 116 points, while the Nifty was trading lower 36 points at 11,869 levels. The market breadth was negative on the NSE with 537 shares advancing, 990 shares declining, and 548 remaining unchanged.

Shares of Indiabulls Housing Finance slipped 5% in the morning trade. The company approached the Supreme Court on Wednesday seeking that the case is heard urgently given that rumors regarding the allegations were causing a massive decline in its stock price and market cap.

Shares of Jet Airways tanked 12% on Thursday after the National Stock Exchange (NSE) in its circular informed that shares of Jet Airways (India) Ltd will be removed from daily trading of futures and options effective June 28.

Shares of Tata Motors fell 1% on the NSE. Jaguar Land Rover Ltd, its UK subsidiary of Tata Motors Ltd showed a 12.2% sales decline in May.

On the currency front, the Indian rupee oscillated between gains and losses to trade little changed at 69.33 against the US dollar.

On the economy front, the inflation numbers for May surged to their seven-month high in May although within the RBI’s range. India’s industrial output also soared to a six-month high of 3.4% in April on the back of improvement in mining and power generation.

Meanwhile, oil prices steadied after slumping as much as 4% in the previous session to nearly five-month lows on the back of a further build-up in US crude stockpiles and worries about lower demand growth.

The Volatility gauge, India VIX was down 0.37% at 14.07.

The most active stocks on the NSE are Indiabulls Housing, Yes Bank and IndusInd Bank.

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Wednesday, June 12, 2019

Sensex slips 100 points; Indiabulls Housing, Yes Bank stocks under pressure

HDFC twins, Infosys, TCS, and ICICI Bank were among top losers on the Sensex chart.
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Equity benchmark indices snapped three days winning streak and opened lower on Wednesday tracking muted global cues ahead of the release of key macroeconomic data on industrial growth and inflation. HDFC twins, Infosys, TCS, and ICICI Bank were among top losers on the Sensex chart.

The Sensex was trading at 39,807 levels, down 140 points, while the Nifty was trading lower 44 points at 11,922 levels. The market breadth was negative on the NSE with 663 shares advancing, 846 shares declining, and 553 remaining unchanged.

Yes, Bank’s shares fell 2.5% in the morning trade after the rating agency Moody’s put the bank’s rating under review for downgrade on account of its exposure to finance companies.

Shares of Tata Steel gained 1% on the NSE. The European Commission formally announced its decision to prohibit the proposed European steel joint venture between Tata Steel and ThyssenKrupp AG.
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The Volatility gauge, India VIX was up 0.17% at 14.51.

The most active stocks on the NSE are Yes Bank, Infosys, and Indiabulls HF.

Meanwhile, oil prices fell weighed down by a weaker oil demand outlook and a rise in US crude inventories despite growing expectations of ongoing OPEC-led supply cuts.

On the currency front, the rupee opened flat at 69.45 per dollar against the previous close of 69.44/$ amid US-China trade tensions.

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Tuesday, June 11, 2019

Sensex, Nifty trade flat; Sterlite Technologies, IndusInd Bank stocks surge

The market breadth was negative on the NSE with 601 shares advancing, 934 shares declining, and 259 remaining unchanged.
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Equity benchmark indices opened higher on Tuesday tracking global markets. Investors will keenly watch the inflation data to be released this week.

The Sensex was trading at 39,791 levels, up 7 points, while the Nifty was trading marginally higher at 11,924 levels. The market breadth was negative on the NSE with 601 shares advancing, 934 shares declining, and 259 remaining unchanged.

Among sectoral front, Nifty Metal and Nifty IT were marginally up, while Nifty Pharma and Nifty Realty indices fell in the morning session.

In the broader market, the BSE MidCap index jumped 13 points to 14,936, while the BSE SmallCap index slipped 12 points to 14,573.

On the currency front, the rupee opens stronger on Tuesday morning at 69.45/$ against the previous close of 69.65/$.

Anil Agarwal-led promoters of Sterlite Technologies (STL) have announced that they have removed their entire pledge on STL's shares with immediate effect. The stock rallied 10% on the NSE.

Dewan Housing Finance Corporation stocks slipped 1% after reports that it closed the deal to sell stake in Aadhar Housing Finance to investment firm Blackstone.

Shares of Eveready Industries were trading 2% down on Tuesday after India Ratings and Research has downgraded the company's Long-term Credit Rating to 'IND BBB' from 'IND A+' and maintained it on Rating Watch Negative.

Meanwhile, Asian shares traded marginally higher as investors turned hopeful of further progress on US-China trade talks after Donald Trump inked a trade deal with Mexico.

The Volatility gauge, India VIX was down 0.73% at 14.86.

The most active stocks on the NSE are Indiabulls HF, Sterlite Tech, Yes Bank and TCS.

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Monday, June 10, 2019

Sensex jumps over 300 points; Nifty above 11,950 mark

In the broader market, the BSE MidCap was up 103 points to 15,010, while the BSE SmallCap rose 61 points to 14,718.
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Equity benchmark indices open higher tracking positive global cues. The Sensex was quoting at 39,946, up 330 points, while the Nifty was at 11,970, up 100 points.

The market breadth was positive on the NSE with 1,029 shares advancing, 531 shares declining, and 526 remaining unchanged.

In the broader market, the BSE MidCap was up 103 points to 15,010, while the BSE SmallCap rose 61 points to 14,718.

Shares of DHFL jumped 9% after the company paid investors and depositors part of repayments due after missing the deadline earlier this week.

Shares of J&K Bank tanked 17.5% after the Jammu and Kashmir government removed the bank’s chairman Parvez Ahmad, and Anti-Corruption Bureau carried out a raid at the lender's corporate office in connection with alleged fraudulent appointments.

Shares of Reliance Power were trading 10% on Monday after the company reported a net loss of Rs3,558.5cr in the fourth quarter of FY19 compared to PAT of Rs189cr in Q4FY18.

On the currency front, the Indian rupee strengthened marginally against the US dollar tracking gains in local equity markets.

Meanwhile, Asian stock markets climbed on Monday after President Donald Trump suspended his plans for tariffs on Mexico.

The Volatility gauge, India VIX is down 0.48% at 14.78.

The most active stocks on the NSE are ICICI Bank, HDFC Bank and Reliance.

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Friday, June 7, 2019

Nifty below 11,800-mark; Sensex down ~100 pts

Reliance Industries, HDFC twins, ICICI Bank, Kotak Bank, IndusInd Bank, and HUL contributed the most to the fall of S&P BSE SENSEX 50.
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Equity benchmark indices turned red after opening on flat to marginally positive note in tandem with its Asian peers.

The Sensex slumped 131 points to trade at 39,398 levels and the Nifty fell 50 points to trade at 11,794 levels, below its key level of 11,800.
Reliance Industries, HDFC twins, ICICI Bank, Kotak Bank, IndusInd Bank, and HUL contributed the most to the fall of S&P BSE SENSEX 50.

Interestingly, shares of Indiabulls Real Estate were trading 5% higher on the BSE after the company in a press note stated that the promoters intend to sell 14% of the fully paid-up capital to the third-party investors. The move has been planned to ensure focus on the financial services business in the long run.

Notably, shares of DHFL, which caused a major sell-off in the markets during yesterday’s trading session, were trading 5% down. This is especially after Tata Mutual Fund has chosen to side-pocket its Dewan Housing Finance (DHFL) investment to separate its troubled investment in the lender and enable investors to redeem their investments in three schemes without any exit load. This is a first for the Indian mutual fund industry.

On the NSE, Vedanta, Wipro, Infosys, SBI, Indiabulls Housing Finance were in the basket of top gainers. Conversely, Dr. Reddy’s, Cipla, IndusInd Bank, Maruti, and Britannia were top losers.

All Sectoral indices on the NSE were in the red, except, the Nifty Realty index, which is trading 0.1% up. The Nifty Pharma was the top loser declining 2%, followed by Nifty Media index, which is down 1%.

Surprisingly, India VIX was trading 0.49% down at 15.52 points.

Markets breadth was trading in the negative on the NSE with 1022 stocks remaining down, 538 shares remaining positive, while 517 shares remaining unchanged.

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Thursday, June 6, 2019

Nifty below 12,000 ahead of RBI policy; DHFL stock tanks 12.5%

On the sectoral front, Nifty PSU Bank fell 2% followed by reality, IT, media, and financial stocks. On the flip side, FMCG and auto indices were up marginally.
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Equity benchmark indices opened lower on Thursday amid escalating US-Mexico and US-China trade worries. Investors will keenly watch Reserve Bank of India’s monetary policy decision to be announced today.

On the sectoral front, PSU Bank fell 2% followed by realty, IT, media, and financial stocks. On the flip side, FMCG and auto indices were up marginally.

Power Grid, IOC, Eicher, and Bajaj Auto were among the top gainers, while GAIL, Indiabulls HF, Yes Bank, and SBI were top losers on the NSE.

The Sensex slipped 57 points at 40,026, and the Nifty50 dropped 23 points to 11,999. The market breadth was negative on the NSE with 707 shares advancing, 829 shares declining, and 521 remaining unchanged.

Crisil and Icra downgraded commercial paper (CPs) of Dewan Housing Finance Corporation (DHFL) to ‘default’ after the lender delayed interest payments. The stock tanked 12.5%.

Shares of Tata Motors rose ~1% after Jaguar Land Rover said it has joined hands with BMW to develop next-generation electric drive systems.

Volatility gauge India VIX is up 1.34% at 15.83.

The most active stocks on the NSE are GAIL, SBI, Yes Bank, and DHFL.

On the currency front, the Indian rupee opened weaker at 69.40 against the US dollar.

Meanwhile, oil prices hovered around their lowest levels since January as markets remain under pressure from rising US supply and stalling demand amid an economic slowdown.

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Reliance Industries, ICICI Bank drag Sensex 100 points down

Among sectoral front, realty, pharma, and media were trading lower by 1%, auto and banking fell marginally. Equity benchmark indices op...