Latest news and updates

10th Dec, 2018

Markets crack; Nifty ends 205 points lower

Published on: 4:10 pm

  • The Indian stock markets witnessed a selloff in tandem with global equities as skepticism about the US-China trade agreement as well as the disappointing US jobs data reported on Friday weighed in on the markets.
  • Nifty ended the day 205 points lower at 10,488 led by a correction in frontline stocks, while Bank Nifty closed 491 points lower at 26,102 with major correction seen in private sector banks. Read more.

Britain is free to revoke Brexit: EU court

Published on: 3:50 pm

  • The European Union’s top court on Monday said that the UK can unilaterally reverse Brexit.
  • The statement can fuel the campaign to spoil the divorce on the eve of a make-or-break vote in the British Parliament. Read more. 

Tata Motors Group global wholesales down 7% yoy in Nov due to overall weakness

Published on: 3:41 pm

  • Tata Motors Limited (TML) sold 1,04,964 vehicles globally in November 2018, down 7% yoy. Sales were 4% lower compared to October 2018. The combined sales of Jaguar and Land Rover (JLR) were 49,312 vehicles, 9% lower than November 2017 and 5% higher than October 2018. Tap to read more.

HCL Technologies-Aegon ink IT transformation deal

Published on: 3:36 pm

  • HCL Technologies announced a new five-year contract with multinational life insurance, pensions, and asset management company Aegon.
  • The application services deal will see HCL continue as Aegon’s digital transformation partner, helping to accelerate innovation by establishing and managing a new multi-vendor ecosystem. Read more. 

Nifty settles below 10,500 mark; Kotak Mahindra loses 6%

Published on: 3:33 pm

  • Equity benchmark indices closed on a lower level on Monday.
  • Sensex closed at 35,960 levels down by 714 points, while Nifty closed at 10,650 levels up by 67 points.
  • Top Gainers: IOC (+4%), BPCL (+2%). Losers: Kotak Mahindra (-6%), Indiabulls Housing (-4%), Reliance(-4%).
  • All Nifty sectoral indices bleed with Realty leading the decline at 3%.

Sensex plunges over 700 pts ahead of state poll outcome, weak global cues

Published on: 3:23 pm

  • Equity benchmark indices plummet during the last trading hour with the Sensex shedding over 700 pts and Nifty below 10,500.
  • All sectors are trading in the green, with the top losers being metals, infrastructure, automobiles, banks, and pharmaceuticals.
  • The decline can be attributed to weak global cues as well as caution ahead of the state election results due tomorrow.

HCL Tech signs new five-year IT transformation deal with Aegon

Published on: 3:22 pm

  • As per the exchange notification, HCL Tech has announced a new five-year contract with multinational life insurance, pensions, and asset management company, Aegon.
  • The application services deal will see HCL Tech continue as Aegon’s digital transformation partner, helping it accelerate innovation by establishing and managing a new multi-vendor ecosystem. Read more.

Nalco falls 4% upon completion of Rs504cr buyback

Published on: 3:10 pm

  • Shares of National Aluminium Company (Nalco) were trading ~4% lower after the company announced that it has completed a share buyback proposal.
  • Nalco had announced a buyback of 6,73,11,386 fully paid-up equity shares of face value Rs5 each, representing up to 3.48% of issued, subscribed, and paid-up equity share capital of the company from existing shareholders/beneficial owners as on the record date (i.e. Friday, October 26, 2018). Read more. 

Container Corp gains as board to consider issue of bonus shares

Published on: 3:10 pm

  • Shares of Container Corporation of India gained 3% intraday on Monday after the company said its board will consider the issue of bonus shares to its shareholders.
  • The board of directors of the company is scheduled to meet on December 20 to "consider the issue of bonus shares to the shareholders of the company which, if approved, will be subject to applicable regulatory provisions and the approvals of shareholders and others as may be required for the same," the company said in a press note to the exchanges on Monday. Read more. 

Oriental Veneer Products wins order worth Rs152cr

Published on: 3:03 pm

  • Oriental Foundry Private Limited, wholly owned subsidiary company of Oriental Veneer Products Limited, has secured orders worth Rs152.31cr from Indian Railways for manufacturing and supplying wagons, the company stated in an exchange filing on Monday morning.
  • The filing also mentioned that largest-ever, single-value order bagged by the company. Read more. 

Lupin’s Pithampur unit-3 receives EIR from USFDA

Published on: 2:38 pm

  • Lupin, in its filing to the exchanges on Monday, informed that its Unit-3 in Indore received the Establishment Inspection Report (EIR) from the US Food & Drug Administration (USFDA).
  • Despite this, shares of the company slumped 3%. Read more. 

MCX gold steady near 31,500

Published on: 2:25 pm

Gold prices were trading marginally up in Monday’s morning session with US gold futures gaining 0.2%. This was mainly on the back of a weak dollar.
Further, disappointing nonfarm payroll data from the US also boosted investors’ appetite for the greenback-denominated commodity. Read more. 

Live market update: Markets consolidate after opening gap down

Published on: 2:10 pm

  • Indian markets consolidated after opening gap down on Monday with the Nifty trading 161 points lower at 10,532, and Bank Nifty trading down 364 points at 26,232.
  • The selloff in the markets was in tandem with the correction seen in global equities as skepticism about the US-China trade agreement along with the disappointing US jobs data reported on Friday weighed on investor sentiment. Read more. 

Sensex, Nifty slips; Realty, Financial Service stocks drag

Published on: 1:57 pm

  • Equity benchmark indices extended it morning losses in the noon session on Monday with Senex trading 558 point down at 35,114 levels, while Nifty dropped 169 points to trade at 10,525 levels.
  • All sectoral indices were trading in the red on the NSE with the Nifty Realty, Financial Services indices leading the loser’s group by declining 2%.
  • Among stocks, Kotak Bank, UltraTech Cement, Reliance Industries, Indiabulls Housing Finance, and Bajaj Finance lost the most. Conversely, Indian Oil, Eicher Motors, Yes Bank, Hindustan Petroleum, and Maruti gained the most.
  • Market breadth was negative on the NSE with 1,385 shares declining, 305 shares advancing, while 380 remaining unchanged.

Low consumer sentiment, tight liquidity causes dip in vehicle sales in Nov'18: SIAM Report

Published on: 1:50 pm

  • Passenger vehicle sales for November declined 3.4%, while two-wheeler sales rose 7% for the month, according to Society of Indian Automobile Manufacturers (SIAM)'s November report.
  • The Indian automobile industry produced a total 21,945,408 vehicles including passenger vehicles, commercial vehicles, three wheelers, two wheelers, and quadricycle in April-Nov 2018 vs.19,502,502 in April-Nov 2017, indicating a growth of 12.53% over the same period last year. Read more. 

Kotak Mahindra tanks ~6% after it files petition against RBI

Published on: 1:30 pm

  • Shares of Kotak Mahindra Bank have fallen by ~6% following the news that it has moved the Bombay High Court after the Reserve Bank of India restricted it from reducing promoter holding using preference shares.
  • The bank said that it has filed a writ petition to “protect its interests” as a “matter of abundant caution.” Read more. 

Stocks fall on heightened trade worry; dollar dips

Published on: 12:45 pm

  • US stock futures declined with equities in Asia amid a potential escalation of tensions between Washington and Beijing, and after signs that China’s economy remains under pressure.
  • Treasury yields extended last week’s retreat and the dollar fell. Read more. 

Escorts enters into JV with Kubota (Japan) for manufacturing high-end tractors

Published on: 12:40 pm

  • India’s leading agriculture equipment maker Escorts Ltd (Escorts) has entered into JV with Kubota Corporation, Japan, for developing high-end tractors for the domestic and export markets.
  • As per Escort’s press release to exchanges, the new JV will be formed with an initial investment of Rs300cr. Read more.

Alembic Pharma gets USFDA nod for Olopatadine Hydrochloride

Published on: 12:32 pm

  • Alembic Pharmaceuticals, in a press note to the exchanges on Monday, informed that the company has received an approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Olopatadine Hydrochloride Ophthalmic Solution USP, 0.1%.
  • "The approved ANDA is the therapeutic equivalent of the reference-listed drug product (RLD Patanol Ophthalmic Solution, 0.1% of Novartis Pharmaceuticals Corporation," the company stated in a press note. Read more.

Nifty Realty drops 2.5% led by Unitech, Indiabulls Real Estate

Published on: 12:20 pm

  • The Nifty Realty index dropped 2.5% in noon trade on Monday amid a selloff in Unitech, Indiabulls Real Estate, DLF, Godrej Properties, and Sobha.
  • Shares of Unitech and Indiabulls Real Estate, which were trading down  5% each, contributed to the index’s loss. Read more. 

Rupee depreciates 46 paise; breaches 71-mark

Published on: 11:28 am

  • The Indian rupee started the week on a weaker note and breached the 71-mark in late morning trade on Monday.
  • The domestic currency has depreciated 46 paise to trade at 71.28 against the US dollar vs. its previous close of 70.82/$. Read more. 

Ashoka Buildcon gets order worth Rs794cr; stock sprints 9%

Published on: 11:06 am

  • Shares of Ashoka Buildcon are trading 9% higher on news of receiving an order worth Rs794cr.
  • Ashoka Buildcon has received a letter of acceptance by Rail Vikas Nigam Limited, for the project involving "Construction of roadbed, bridges, supply of ballast, Installation of track (excluding supply of rails, and track sleepers), Electrical (General Electrification), Provision of OHE, Signaling and telecommunication works in connection with 3rd Line from Sonnagar to Garhwa Road in Dhanbad Division of East Central Railway" in the States of Bihar and Jharkhand in two packages. Read more. 

Mangalam drugs zooms 14% on receiving WHO pre-qualification approval

Published on: 10:59 am

  • Shares of Mangalam Drugs zoomed 14% in early morning trade on Monday after the company announced that it has received WHO pre-qualification for its Unit-1 facility.
  • The drug manufacturer's Unit-1 facility was recently inspected by a WHO pre-qualification team, which the company successfully cleared and received approval for as well. Read more. 

Jubilant Life Sciences plunges ~6% on USFDA observations

Published on: 10:25 am

  • Shares of Jubilant Life Sciences plunged ~6% in early morning trade today as the USFDA classified its Roorkee OSD facility as “Official Action Indicated” (OAI).
  • This action is indicated in response to the USFDA inspection conducted at this facility during August 2018. Read more. 

IOC to consider buyback, interim dividend on Dec 13

Published on: 10:14 am

  • The board of Indian Oil Corporation (IOC) is expected to consider a buyback of its equity shares in a meeting scheduled on Dec 13, 2018.
  • In its filing on the BSE, the company stated that it would consider in the upcoming meeting
  • (1) The buyback of the fully paid-up equity shares of the company of face value of Rs10/- each
  • (2) Declaration of interim dividend on the equity shares of the company for the FY19. Read more

Sensex slips ~550 points; Nifty below 10,550 mark

Published on: 9:52 am

  • Tracking global cues, equity benchmark indices in India started the week on a negative note in Monday’s morning session, with Sensex declining 567 points at 35,106 levels.
  • Nifty too declined 173 points to trade at 10,520 levels, well below its key level of 10,550. Read more. 

Nifty opens below 10,600 mark; Realty top sectoral loser

Published on: 9:20 am

  • Equity benchmark indices opened on a lower level on Monday.
  • Sensex is trading at 35,160 levels down by 512 points, while Nifty is trading at 10,540 levels down by 155 points.
  • The indian rupee is trading at 71.25 per dollar stronger by 3 paise from its opening rate.
  • All Nifty sectoral indices bleed with Realty index leading at 2%.

Ethanol blending with petrol likely to double at 8% in 2018-19 sugar year

Published on: 9:12 am

  • Petroleum Minister, Dharmendra Pradhan, addressed the 84th annual general meeting of sugar industry body ISMA, on December 07, 2018.
  • The ethanol blending with petrol is likely to double to 8%, in current crop year 2018-19 (October, 2018 to September, 2019), backed by improved prices offered by oil marketing companies. Read more. 

Cipla gets final USFDA approval for gSingulair chewable tablets

Published on: 9:09 am

  • Cipla has received final USFDA approval for Montelukast Sodium, chewable tablets in the strengths of 4mg and 5mg.
  • Cipla’s Montelukast Sodium copy is a Merck’s drug Singulair which is used in the treatment of asthma. Read more. 

Share Market Update: 10 Stocks that have witnessed maximum change in their Put-Call ratio

Published on: 8:50 am

  • Put/Call ratio (PCR) is a popular derivative indicator, specifically designed to help traders gauge the overall mood of the market.
  • The ratio is calculated either on the basis of options trading volumes or on the basis of the open interest for a particular period. Read more. 

Top stocks in focus: Uflex, Indian Oil, Axis Bank

Published on: 8:31 am

  • Indian Oil to consider buyback and dividend on Dec 13.
  • Syndicate Bank reduced MCLR by five basis points across the six-month and one-year tenure instruments with effect from Dec 10.
  • Sugar companies like Balrampur Chini, Dhampur Sugar, EID Parry, Dalmia Bharat Sugar, and others will be in focus as Oil Ministry said that the ethanol blending in petrol would double to 8%. Read more.

SGX Nifty indicating a gap down opening on the back of a selloff in global equities

Published on: 8:08 am

  • SGX Nifty is at 10,580, down 157 points.
  • For today, we expect volatility to rise as we see markets open gap down with short covering & institutional buying holding the fort. Read more. 

Current FII Data

Published on: 8:05 am

FII/DII Data: In Friday’s trading session, FIIs sold 817cr stock in the cash market, whereas DIIs bought 242cr worth of stock. In the derivative market, FIIs bought 616cr of Index futures and sold 227cr worth of Index options. In the Stock futures segment, FIIs bought 854cr worth of stock futures and bought 6cr stock options. 

FII View: FIIs created bullish positions in the derivative segment in Friday’s trading session, which is deduced by the fact that they created 7557 net long contracts in Index Futures while simultaneously creating 15187 short contracts in Index Put Options. However, the PCR ratio since the start Dec series currently stands at 0.8x which is a bearish sign.

FII OI
(in000's)
% Chg % Chg
Since Expiry
Long/
Short Ratio
Long/Short
 Since Expiry
Index Long 167 5 20 0.9 0.8
Index Short 190 0 43
Index Call Long 227 1 18 2.5 0.8
Index Call Short 89 (1) 40
Index Put Long 305 3 21 2.1 0.8
Index Put Short 144 12 43

What not to miss today

Published on: 7:50 am

  • Markets to open gap down; Nifty support @10588, resistance 10670.
  • FIIs sold 817cr (cash), bought 616cr in Index Futures.
  • US, Asian stocks down on resurfacing US-China trade conflicts.
  • OPEC received Iran’s approval to cut crude output by 0.8mn barrels per day.
  • Rupee rose 8 paise to 70.82/$. Read more.

Derivative Watch

Published on: 7:43 am

  • Long Vega positions were built in Index option as traders expect volatility to persist during the current week.
  • Positions were built in deep out of the money call and put options strikes with 11,200CE and 10,300PE adding 5.13lakh shares and 4.67 lakh shares, respectively.
  • Highest open interest buildup for Nifty in the December series is currently seen in 11,000CE and 10,000PE.

Broker Radar for December 10

Published on: 7:40 am

HSBC maintained ‘Buy ‘on Suzlon Energy; cut target price  to Rs9.5 from Rs14.
  • Recovery post transition pain has been slower than expected.
  • Slower execution issues are being addressed; strong order book lends two years growth visibility.
  • Cut TP to factor in lower industry volumes. Read more. 

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