Monday, May 20, 2019

Sensex rallies over 650 points; Reliance, ICICI Bank among top gainers

The market breadth was positive on the NSE with 1,342 shares advancing, 230 shares declining, and 504 remaining unchanged.

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Equity benchmark indices surged 2% in the early morning trade after exit polls of the 2019 Lok Sabha elections projected BJP-led National Democratic Alliance (NDA) to win a comfortable majority.

Reliance Industries, ICICI Bank, HDFC, and L&T contributed the most to the advances on Sensex.

The rupee rose to a two-week high of 69.36 against the US dollar, as compared to its Friday’s close of 70.23.

The Sensex was quoting at 38,579, up 647 points, while the Nifty was at 11,610, up 203 points. The market breadth was positive on the NSE with 1,342 shares advancing, 230 shares declining, and 504 remaining unchanged.

Indiabulls Housing, SBI, L&T, and ICICI Bank were among the major gainers on the Nifty50, whereas Dr Reddy’s, Zee, and Tech Mahindra led losses.

Shares of Cipla rose 1.5% after the company informed that inspection conducted by the United States Food and Drug Administration (USFDA) at the company’s Indore facility ended with zero observation.

Shares of Bharti Airtel rose 1.5% after the company said that based on preliminary information, the rights issue has been over-subscribed. The company’s Rights Issue closed for subscription on May 17.

The Volatility gauge, India VIX is down 12.99% at 24.42.

The most active stocks on the NSE are Oberoi Realty, Reliance Industries, Axis Bank and SBI.

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Friday, May 17, 2019

Sensex rallies over 200 points led by Yes Bank, Bajaj Finance

YES Bank, Indiabulls Housing, Coal India, GAIL, and Bajaj Finance were among the major gainers on the Nifty50, whereas Cipla, BPCL, Hindalco, NTPC, and Eicher Motors led losses.
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Equity benchmark indices opened higher on Friday as the rally was led by HDFC, Reliance Industries, and ITC. Investors remained cautious ahead of exit polls on May 19.

The Sensex was quoting at 37,603, up 209 points, while the Nifty was at 11,310, up 53 points. The market breadth was positive on the NSE with 946 shares advancing, 572 shares declining, and 546 remaining unchanged.

YES Bank, Indiabulls Housing, Coal India, GAIL, and Bajaj Finance were among the major gainers on the Nifty50, whereas Cipla, BPCL, Hindalco, NTPC, and Eicher Motors led losses.

In the broader market, Nifty midcap and smallcap were up 0.50% and 0.66% respectively.

Shares of Aurobindo Pharma slipped 5% on the NSE after the company received letters from the USFDA, classifying the inspections concluded at its API facilities of Unit I and XI and intermediates facility of unit IX in February 2019 as Official Action Indicated (OAI), it said in a statement on the exchanges.

Shares of Punjab National Bank are trading flat after the bank terminated an agreement to sell 1.08cr shares of PNB Housing Finance to General Atlantic Group aggregating to Rs925.8cr, as conditions were not met on Long Stop Date of May 15.

The Volatility gauge, India VIX is down 0.64% at 28.18.

The most active stocks on the NSE are Yes Bank, Bajaj Finance, and Reliance Capital.

Meanwhile, the Indian rupee slipped by 23 paise at 70.26 per dollar vs. previous close 70.03/$.

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Thursday, May 16, 2019

Sensex, Nifty trade higher led by Infosys, RIL, Tata Motors

The market breadth was neutral on the NSE with 753 shares advancing, 771 shares declining, and 549 remaining unchanged.
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Equity benchmark indices opened in the positive zone, with the Nifty trading above 11,150 levels. Investors remained cautious ahead of exit poll results due on May 19 and final results on May 23, 2019.

Tata Motors, Yes Bank, and JSW Steel are among top gainers, while BPCL, IOC, and Indiabulls HF are among top losers on the Nifty.

The Sensex was quoting at 37,181, up 66 points, while the Nifty was at 11,177, up 21 points. The market breadth was neutral on the NSE with 753 shares advancing, 771 shares declining, and 549 remaining unchanged.

In the broader market, the BSE MidCap index rose 22 points at 14,140, while the BSE SmallCap index had slipped 25 points or 0.18% at 13,757.

Shares of Tata Chemicals, TGBL jumped in the morning trade after the salt-automobile conglomerate announced the consolidation of its consumer business.

Shares of Lupin declined 4% after the company posted a net profit at Rs289.6cr in Q4FY19 as compared to Rs783.5cr loss in the same quarter of the previous year.

The Indian rupee on Thursday strengthened marginally for the third session against the US dollar in the opening trade.

The Volatility gauge, India VIX is down 0.62% at 28.47.

The most active stocks on the NSE are Tata Motors, Yes Bank, and Indigo.

On the economy front, India’s trade deficit for April month widened to 5-month high of $15.3mn on the back of rising gold imports, data released by the commerce ministry showed.


Oil prices edged up on the prospect of mounting tensions in the Middle East hitting global supplies. Brent crude rose 0.7% to $72.25 a barrel, while US West Texas Intermediate (WTI) crude fetched $62.45 a barrel, up 0.7%.

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Wednesday, May 15, 2019

Sensex, Nifty trade higher; Yes Bank, Jet Airways stocks slip

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Equity benchmark indices opened higher on Wednesday tracking a recovery in Asian markets on hopes of easing US-China trade concerns. The rally was seen in financial and energy stocks supported the upmove, however, weakness in pharma and metal sectors capped the upside.

The Sensex rose 113 points at 37,432 levels and the Nifty50 was up 29 points at 11,251 levels. The market breadth was neutral on the NSE with 1,041 shares advancing, 541 shares declining, and 503 remaining unchanged.

Shares of Welspun Corp fell 3% after the company’s board approved buyback of its shares at a price of Rs140 apiece, aggregating of up to Rs390cr.

Shares of Orchid Pharma jumped 5% on the back of USFDA nod for Risedronate Sodium Tablets.

Shares of Jet Airways (India) slipped 4% on the BSE after top executives of the cash-strapped airline resigned with immediate effect.

The Volatility gauge, India VIX is up 0.79% at 27.34.

The most active stocks on the NSE are, Yes Bank, Reliance Industries, and SBI.

Meanwhile, the rupee today strengthened for the second session against the US dollar, tracking gains in local equity and Asian currencies market.

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Tuesday, May 14, 2019

Nifty hovers around 11,150 mark; Media, realty stocks decline

Sun Pharma, ITC, Reliance Industries, TCS and ICICI Bank were among the major gainers on Nifty50.
Equity benchmark indices fluctuated between gains and losses slipped into the negative zone in the morning trade following subdued Asian markets on Tuesday. Sun Pharma, ITC, Reliance Industries, TCS and ICICI Bank were among the major gainers on Nifty50, whereas Tata Motors, Tata Steel, Eicher Motors, L&T, and Coal India led the losers.

Shares of Sun Pharma, which saw a 20% sudden intraday plunge on Monday, were up 3% in early trade.

Shares of Dewan Housing Finance Corporation (DHFL) slipped 1% after the rating agency Crisil downgraded ratings on the lender’s commercial papers (CP) worth Rs850cr.

Shares of United Bank of India jumped 3% after the bank registered a quarterly net profit of Rs95.18cr for March 2019 quarter after seven quarters of consecutive loss.

The Indian rupee appreciated as much as 0.12% to 70.43 against the greenback.

The Sensex slipped 31 points at 37,060 and the Nifty50 was marginally lower 11 points at 11,137. The market breadth was negative on the NSE with 488 shares advancing, 1,037 shares declining, and 527 remaining unchanged.

All sectors, Nifty Metal lost the most in opening trade, down 1%, followed by media, realty, and IT. Meanwhile, Nifty pharma and banking were trading in the green.

On the economy front, the WPI data and earnings will continue to be on the market participant’s radar.

The Volatility gauge, India VIX is down 1.54% at 26.96.

The most active stocks on the NSE are Reliance Industries, Sun Pharma, Yes Bank, and Vodafone Idea.

Asian saw a more limited slide in stocks on Tuesday than the tumble on Wall Street overnight, while the yuan recovered as investors monitored the latest headlines on US-China trade tensions.

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Monday, May 13, 2019

Markets volatile; Nifty hovers around 11,250-mark

Notably, markets turned volatile after opening in the red on Monday.
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Equity benchmark indices opened in the red on Monday tracking a sharp fall in Asian peers amid growing concerns regarding the trade war between the US and China.

Notably, markets turned volatile with the Sensex gaining 6 points at 37,468 levels, while the Nifty dropped 5 points at 11,264 levels, struggling to hold its key level of 11,250.

Volatility could be attributed to the cautious approach of investors for trading. Investors in global markets are keeping close eyes on US President Donald Trump’s comments and his forthcoming dialogue with the Chinese Premier which could break the ice on talks.

Among stocks on the NSE, Infratel, SBI, ONGC, HUL, and TCS were the biggest gainers. On the flip side, Eicher Motors, Dr. Reddy’s, UltraTech Cement, Zee Entertainment, and Cipla were the top losers.

L&T, HDFC Bank, Kotak Bank, HDFC, and Tata Steel contributed to the loss in S&P BSE SENSEX 50 index.

Share of Eicher Motors declined 3% on the NSE after the company’s PAT for the fourth quarter of FY19 dropped 16% yoy on Rs544.8cr.

Consolidated revenue for the quarter stood at Rs2,500.1cr, down 1.1% yoy (up 6.8% qoq). Due to subdued sales coupled with higher raw material cost and other expenses, EBITDA declined 14.1% yoy to Rs684.7cr. Thus, EBITDA margin contracted by 415bps yoy to 27.4%.
Further, all sectoral indices on the NSE were trading in the red, except Nifty FMCG and IT indices, which gained 0.1% and 0.2%, respectively.

Incidentally, volatility measurement index, India VIX, gained 5.61% at 27.81.

Market breadth was negative on the NSE with 539 shares advancing, 994 shares declining, and 547 shares remaining unchanged.

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On the currency front, the Indian rupee depreciated on Monday. The currency declined 24 paise against the dollar to trade at 70.16/$ compared to its previous close of 69.92/$.


Friday, May 10, 2019

Market trades flat; Nifty below 11,300 mark; SBI, Eicher in focus

Barring IT and FMCG, all indices were trading in the green. Nifty Media was the top gainer, up 1.14% followed by Nifty Realty, banking and financial services.
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Equity benchmark indices opened on a flat note on Friday as sentiment remained cautious as higher US tariffs on Chinese goods loom. Investors will also focus on March industrial production data.

However, the stock market rose as the rally was led by Reliance Industries, HDFC Bank, ICICI Bank and Axis Bank.

Barring IT and FMCG, all other indices were trading in the green. Nifty Media was the top gainer, up 1.14% followed by Nifty Realty, banking and financial services.

Shares of Voltas Ltd fell 4% after its consolidated net profit fell 2% to Rs141.74cr for the fourth quarter ended March 2019.

SBI shares edged higher ahead of its earnings.

Shares of HCL Tech slipped 4% after the IT company reported PAT decline of 1.6% qoq to Rs2,568cr against median consensus estimates of Rs2,538cr.

The Sensex gained 26 points at 37,585 and the Nifty50 was marginally higher 2 points at 11,303. The market breadth was positive on the NSE with 945 shares advancing, 583 shares declining, and 550 remaining unchanged.

Zee, Yes Bank, and Indiabulls HF are among major the losers on the NSE, while gainers include HCL Tech, Infratel, and BPCL.

The Volatility gauge, India VIX is marginally up 0.36% at 25.57.

The most active stocks on the NSE are Reliance Industries, Voltas, and HCL Tech.

Oil prices rose on Friday amid renewed optimism that a trade deal could be struck between Washington and Beijing, calming fears that a protracted tariff war would harm global economic growth.

On the currency front, the rupee opened lower by 11 paise at 70.05 per dollar vs. previous close 69.94/$.

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Sensex rallies over 650 points; Reliance, ICICI Bank among top gainers

The market breadth was positive on the NSE with 1,342 shares advancing, 230 shares declining, and 504 remaining unchanged. Equity bench...