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11th Dec, 2018

Markets recover on bargain hunting; Nifty closes near day's high

Published on: 4:18 pm

  • The Indian stock markets staged a stellar comeback after opening gap down and witnessing an extremely volatile trading session on Tuesday.
  • The Nifty recovered mover than 200 points from its low point of the day and managed to close up 60 points at 10,549. Bank Nifty too closed 60 points higher at 26,163 led by strong gains in PSU banking stocks. Read more.

Aurobindo Pharma’s arm to form JV with Shandong Luoxin Pharma

Published on: 4:00 pm

  • Aurobindo Pharma’s wholly-owned subsidiary Helix Healthcare BV, Netherlands, has inked an agreement with China-based Shandong Luoxin Pharmaceutical (Luoxin) to establish a Joint Venture (JV) company in China, Aurobindo said in a press note to the exchanges on Tuesday.
  • Accordingly, the estimated total project cost including working capital for the JVC will be $50mn. As per the agreement, Helix will invest $15mn and Luoxin will invest $35mn in the proposed JV in the form of equity in a phased manner, the company added. Read more.

Nifty settles above 10,550 mark led Yes Bank, Sun Pharma

Published on: 3:31 pm

  • Equity benchmark indices extended gain in the last hour trading session. Today’s surge led by consumer durable pharma, banking and information technology stocks.
  • The market staged a smart recovery after weak opening as investors hold their nerves ahead of the final outcome of the state assembly elections results.
  • The Sensex ended 190 points higher at 35,150, while the Nifty rose 70 points at 10,549. The market breadth was positive as 1,249 shares have advanced, 454 shares have declined, and 356 shares remain unchanged on the NSE.
  • The most active stocks were RIL, Yes Bank, ICICI Bank, Kotak Mahindra Bank, and Axis Bank.

European stocks gain led by tech companies

Published on: 3:25 pm

  • Equity benchmark indices were trading in the green on Tuesday in Europe with miners and tech companies leading the gain.
  • Further, the Stoxx Europe 600 Index also gained as futures on the Dow, S&P, and Nasdaq fell alongside Asian peers, a Bloomberg report said. Read more. 

Nifty FMCG gains 1.3%; Colgate surges 4.5%

Published on: 2:59 pm

  • The Nifty FMCG index was trading higher in afternoon session on Tuesday with shares of Colgate up 4.5%.
  • Shares of Marico, Jubilant Food, Godrej Industries, and Emami were also trading higher in the range of 4-3%, respectively, followed by ITC and Tata Global, which were up ~2.5% each. Read more. 

Bharti Airtel trades flat after issuing clarification on unpaid taxes

Updated on: 2:59 pm

Published on: 2:45 pm

  • Shares of Bharti Airtel dropped 4%  intraday in morning trade on Tuesday before recovering to trade flat.
  • The shares dropped after the Niger government ordered the closure of Airtel’s Niger arm over unpaid taxes. Read more. 

Nifty back above 10,500 mark; Pharma top sectoral gainer

Published on: 2:52 pm

  • Equity benchmark indices bounce back in noon after initial fall in morning.
  • Sensex is trading at 35,166 levels up by 206 points, while Nifty is trading at 10,555 levels up by 67 points.
  • The indian rupee is trading at 71.75 per dollar stronger by 65 paise from its opening rate.
  • All Nifty sectoral indices back in green except the Realty index which is down by 0.3%.
  • Pharma and PSU Bank Indices lead the green list with 3% and 2% respectively.

Bank Nifty swings between gains and losses; HDFC Bank, ICICI Bank slip

Published on: 2:10 pm

  • Equity benchmark indices pared most of their early losses and are trading at day’s high currently.
  • Both Sensex and Nifty had slipped over 1.3% after the sudden resignation of RBI Governor Urjit Patel and election result trends showing the Congress leading in at least two of the three key states. Read more.

Lupin rises 2.5% on getting USFDA approval to market Apixaban tablets

Published on: 2:02 pm

  • Shares of Lupin were up 2.5% in the morning trade on tuesday as the pharma major announced in an exchange filing on Monday that it has received tentative approval from the USFDA to market Apixaban Tablets, 2.5 mg and 5 mg, a generic version of Bristol-Myers Squibb Company's Eliquis® Tablets, 2.5 mg and 5 mg. 
  • Lupin Limited is a transnational pharmaceutical company based in Mumbai. The company’s key focus areas include paediatrics, cardiovascular, anti-invectives, diabetology, asthma and anti-tuberculosis. Read more.

RBI imposes Rs1cr penalty on Indian Bank

Published on: 1:50 pm

  • The Reserve Bank of India (RBI) has imposed a penalty of Rs1cr on Indian Bank.
  • Despite this news, shares of Indian Bank were trading 2% up on the BSE in the afternoon session on Tuesday. Read more.

Live market update: Markets rebound after opening gap down

Published on: 12:47 pm

  • The Indian markets witness an extremely volatile trading session after the opening the day gap down.
  • The Nifty was trading 3 points lower at 10,484 while Bank Nifty was down 101 points at 25,999 with both the indices rebounding strongly the from the low point of the day. Read more. 

Container Corporation of India trades flat

Published on: 12:30 pm

  • Shares of Container Corporation of India (Concor) were trading flat in Tuesday’s trade after gaining ~3% intraday on Monday.
  • Concor, had on Monday. announced that it will consider the issue of bonus shares. Read more. 

Nifty IT gains 1%; NIIT, Infibeam lead rally

Published on: 12:17 pm

  • The Nifty IT index was trading 1% up on Tuesday after the Indian rupee extended its losses against the US dollar for the second straight trading session in this week.
  • Shares of NIIT Tech, Infibeam, Tech Mahindra, HCL Tech, and MindTree led the index’s gain. Read more. 

Markets erase losses; Nifty above 10,500-mark

Published on: 11:48 am

  • Equity benchmark indices erased its morning losses with the Nifty trading above its key level of 10,500 on Tuesday. The Sensex gained 27 points to trade at 34,993 levels, while the Nifty rose 21 points at 10,510 levels.
  • All sectoral indices turned the green except Nifty Bank and Financial Services. The Nifty Pharma index was leading the gainers group by rising 2%, followed by Nifty IT, PSU Bank, and Media indices.
  • Among shares, Yes Bank, Sun Pharma, Indiabulls Housing Finance, Asian Paints, and Axis Bank gained the most. Conversely, HPCL, IOC, BPCL, Tata Steel, and HDFC Bank lost the most.

Quess Corp extends gains after promoter increases stake

Published on: 11:30 am

  • Shares of Quess Corp jumped 7% in morning trade on the BSE on Tuesday after one of its promoters increased his stake in the company.
  • Promoter Ajit Isaac acquired 48,000 equity shares of the company from the open market on December 7. Read more. 

Strides' JV gets final USFDA approval for gAlbenza

Published on: 11:25 am

  • Strides Pharma Science Limited has announced that its 50:50 joint venture with Vivimed named Strides Vivimed Pte. Ltd has received final USFDA approval for Albendazole Tablets (200 mg).
  • Albendazole  is  an  anthelmintic  medication  used  to  treat  certain  infections  caused  by  tapeworm. Read more. 

Yes Bank trades up 5% amid market uncertainty

Published on: 11:22 am

  • Shares of Yes Bank were trading up 5% on Tuesday even amid the election anxiety that had gripped the markets.
  • The Nifty Private Bank index, meanwhile, was trading down 0.6% at the same time. Read more. 

Nifty Bank, Financial Services slide after sudden exit of Urjit Patel

Published on: 11:19 am

  • Nifty Bank and Financial Services indices were trading ~1.5% down each on Tuesday indicating the impact of an unexpected resignation of the Reserve Bank of India’s governor Urjit Patel.
  • Accordingly, shares of ICICI Bank and HDFC Bank, which were trading 2% down each, led the fall in the indices. Read more. 

Dr.Reddy's announces store-brand equivalent of Prilosec OTC tablets in US

Published on: 10:59 am

  • Dr.Reddy's Laboratories announced the launch of Omeprazole Delayed-Release Tablets, 20 mg, an over-the-counter (OTC) store-brand equivalent of Prilosec OTC Tablets, 20 mg, in the US market as approved by the United States Food and Drug Administration (USFDA).
  • OTC Omeprazole Delayed-Release Tablets, 20 mg, is a proton pump inhibitor used to treat frequent heartburn occurring for two or more days per week in adults. Read more. 

Titagarh Wagons wins order worth Rs15.6cr; stock soars 6%

Published on: 10:52 am

  • Titagarh Wagons has won a contract worth Rs15.6cr for the manufacturing and supply of 5,058 wagons to Indian railways, the company said in a press note released to the exchanges on Monday afternoon, post market hours.
  • The bidding for the contract was conducted under the reverse auction method. These wagons are BOXN HL type, designed to carry coal, steel, stones, etc. Read more. 

Zensar Tech gains ~3% on partnering with EBRD

Published on: 10:48 am

  • Shares of Zensar Technologies were trading ~3% higher on Tuesday after the company has been selected by the European Bank for Reconstruction and Development (EBRD) as its partner for technology infrastructure modernization and network services.
  • "With an initial three‐year contract and an option to extend the relationship is the  first  major  technology  partnership  for  EBRD  and  shall  improve  all  aspects  of  the  Bank’s infrastructure and networks," the company said in a press note to the exchanges on Monday after market hours. Read more. 

Wipro takes over design team of Syfte in Australia

Published on: 10:32 am

  • Wipro announced that it has taken over the strategic design consulting team at Syfte, an Australian design agency which uses human-centred design thinking to solve compelling client challenges.
  • Syfte’s team of designers will be absorbed within Designit, Wipro’s strategic design arm, further strengthening its design and innovation capabilities, expanding its reach in Australia and Asia Pacific and enhancing the transformation services offered by Wipro Digital. Read more. 

Rupee drops 91 paise after RBI governor Urjit Patel resigns

Published on: 10:20 am

  • The Indian rupee fell on Tuesday’s trade after the surprise exit of RBI governor Urjit Patel with immediate effect.
  • Currently, the local currency is down by 91 paise at 72.25/$.
  • The currency tumbled 114 paise in early morning trade to 72.46/$ compared to yesterday's close of 71.32/$. The 10-year benchmark bond yield rose to 7.64% from 7.59% at the previous close. Read more

Nifty below 10,400 mark; Realty, Auto stocks drag

Published on: 10:17 am

  • The Sensex is down 469 points or 1.34% at 34,489, while the Nifty slipped 147 points or 1.40% at 10,341 The market breadth is negative as 440 shares advanced, while 1,091 shares declined and, 503 shares were unchanged on the NSE.
  • On the political front, results showed that the BJP is trailing in all the three ruling states of Rajasthan, Chhattisgarh and Madhya Pradesh.
  • Shares of Yes Bank snapped its five-day losing streak and gained 4.5% in dull market. Read more

SBI to raise $1.25bn by issuing bonds; stock gains 1.5%

Published on: 10:09 am

  • Shares of State Bank of India (SBI) were trading 1.5% up on Tuesday as the bank is planning to raise up to $1.25bn by issuing bond.
  • Accordingly, the Executive Committee of Central Board of the Bank in a meeting scheduled to be held on December 12 will consider a proposal for "a long term fund raising in single/multiple tranches upto $1.25bn through a public offer and/or private placement of senior unsecured notes in the US dollar or any other convertible currency during January to March, 2019," the lender said in a press note to the exchanges on Monday after market hours. Read more. 

Sensex slips over 400 points; HDFC Bank, RIL stocks slip

Published on: 9:18 am

  • Equity benchmark indices opened lower on Tuesday after RBI governor Urjit Patel’s resignation and ahead of the crucial state elections outcome.
  • The Sensex is down 354 points or 1% at 34,606, while the Nifty slipped 100 points or 0.95% at 10,388. The market breadth is negative as 90 shares advanced, while 418 shares declined and, 16 shares were unchanged.
  • On the sectoral front, banks, automobiles, energy, consumption, and metals were the top losers.
  • Infosys and Tech Mahindra are slightly up on the NSE, while IndusInd Banks, Adani Ports, and Reliance Industries were the top losers.

Teva shares tumble 5% over price-fixing probe

Published on: 9:04 am

  • Shares of Pharma Company, Teva, tumbled 5% in the US and Israeli markets after company was named as one of the generic drug companies in a price fixing probe.
  • The other names include well known generic companies like Mylan, Sun Pharma and Dr. Reddy’s Lab. Read more. 

Investors shiver amidst election results and RBI Governor exit

Published on: 8:59 am

  • The exit polls on state assembly elections has made investors jittery.
  • Investors are bracing for the state election results that will be out today. Read more. 

Asian markets trade lower; Sterling sinks on Brexit vote delay

Published on: 8:35 am

  • Asian markets were trading lower on Tuesday after further discussions on trade between the US and China.
  • The pound hovered near 20-month lows as political turmoil deepened in Britain with a key vote on Brexit being delayed. Read more. 

Current FII Data

Published on: 8:31 am

FII/DII Data: In yesterday’s trading session, FIIs bought equities worth 116cr in the cash market stock, whereas DIIs sold 146cr worth of stock. In the derivative market, FIIs sold 1012cr of Index futures and bought 67cr worth of Index options. In the Stock futures segment, FIIs sold 851cr worth of stock futures and sold 150cr stock options.

FII View: FIIs reduced bullish positions in the derivative segment in the yesterday’s trading session, which is deduced by the fact that they closed out 12,294 long contracts in Index Futures, while simultaneously creating 3,201 short contracts in Index Call Options. 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 155 (7) 11 0.8 0.8
Index Short 189 (0) 43
Index Call Long 230 1 20 2.5 0.8
Index Call Short 93 4 46
Index Put Long 305 (0) 21 2.1 0.9
Index Put Short 143 (1) 42

SGX Nifty indicating a gap down opening for the markets ahead of the election poll verdict

Published on: 8:28 am

  • SGX Nifty is at 10343, down 175 points. For today, we expect pressure on the rupee as foreign investors turn sellers of bonds, stocks & currency.
  • Yesterday, Nifty saw a sharp fall after the exit polls indicated the ruling BJP to face anti incumbency & lose in the Hindi heartland. This combined with the global sell-off in the US saw stock prices close near the day's low after opening gap down. Read more.

Top stocks in focus: Lupin, Tata Motors, Kotak Mahindra Bank, GMR Infra

Published on: 8:11 am

  • Lupin received tentative USFDA approval for Apibaxan Tablets, which is used for reducing risk of stroke and deep vein thromobosis.
  • Banking stocks in focus today as RBI Governor Urjit Patel has tendered his resignation with immediate effect. The announcement was made after market hours on Monday. Read more. 

Broker Radar for December 11

Published on: 8:08 am

Citi maintained ‘Buy’ on Container Corp with a TP of Rs806
  • Indian railway container volume growth slows.
  • Longer-term prospects remain intact.
  • Capex/capacity expansion plans remain on track. Read more. 

What not to miss today

Published on: 7:52 am

  • Markets to open gap down ahead of election poll verdict.
  • Nifty support @10300, resistance 10650.
  • FIIs bought 116cr (cash), sold 1012cr in Index Futures.
  • US stocks recovered; Asian markets down.
  • RBI Governor Urjit Patel resigns.

Derivative Watch

Published on: 7:48 am

  • Nifty Futures and Bank Nifty Futures witnessed long unwinding following the rally on Friday.
  • On the options front, call writing was witnessed in out of the money strikes with Nifty 10,700CE and 11,000CE adding ~13.2lakh shares and ~12.3 lakh shares, respectively. 
  • India Vix witnessed a sharp spike ending 9.94% higher at 20.4

Bulk deal

Published on: 7:33 am

  • Chordia Food Products Ltd: Rajkumar Hukmichand Chordia sold 26,000 shares, or ~0.8% equity, at Rs127.3 a share.
  • Agro Phos India: Narain Kumar Gupta HUF bought 1.02lakh shares of the company at Rs45.18 a share on the NSE.
  • Shubhlaxmi Jewel Art: Kirtikumar Prabhudas Vora purchased 72,000 shares of the company at Rs28.79 a share on the NSE.
  • Sonam Clock: Total Securities sold 1.32 lakh shares of the company at Rs37.5 per share on the NSE.

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