Latest news and updates

19th Dec, 2018

Premier Explosives surges 3% on order wins worth Rs181cr

Published on: 3:44 pm

  • Shares of Premier Explosives surged 3% in afternoon trade on Wednesday after the company won an order worth Rs181cr from Satish Dhawan Space Centre, Shriharikota.
  • The scope of work includes providing operation and maintenance services. "The order is subject to price escalation from second year onwards," the company said in a press note on Wednesday. Read more.

Nifty settles above 10,950 mark; HCL Tech, Sun Pharma stocks decline

Published on: 3:33 pm

  • Equity benchmark indices registered seventh straight session of healthy gains, largely led by sharp appreciating rupee, declining crude oil prices and supportive global cues.
  • The Nifty gained 59 points at 10,967, while the Sensex rose 137 points at 36,484 led by HDFC, ITC, Axis Bank, and ICICI Bank. Asian Paints, Axis Bank, Indiabulls Housing and Bajaj Finserv were the top gainers, while Sun Pharma, Infosys, and HCL Technologies lost the most. 
  • Shares of PSU Bank index soared nearly 3% after that the government official said in a media report that the state-run bank recapitalisation will be funded via bonds in FY19. Allahabad Bank surged as much as 5.8%, most since November 15.
  • Barring IT, which witnessed selling pressure, all the other sectoral indices witnessed healthy buying with Auto, Realty, Power, FMCG and Oil & Gas being the top gainers in range of 1-3%.

Paint, Tyre stocks gain in today’s session

Published on: 3:30 pm

  • Shares of paint and tyre stocks rallied on the BSE in the afternoon session on the back of falling crude oil prices. Shares of Asian Paints jumped over 3% to their highest level since September 3.
  • Paint companies are expected to gain from decline in crude oil prices as it is one of the key raw materials in paint manufacturing.
  • JK TyreApollo TyresCeatMRF and Berger Paints were trading higher in the range of 3-2%, respectively. Read here

Realty gains 3% led by Indiabulls Real Estate, DLF

Published on: 3:15 pm

Mahindra’s S201 SUV to be named 'XUV300'

Published on: 2:40 pm

  • Mahindra & Mahindra Ltd. (M&M) unveiled the brand name of its highly-anticipated new offering, code-named S201, as the XUV300 (pronounced as XUV, 3 double ‘Oh’). 
  • The XUV300 shares its platform with the SsangYong Tivoli which is a globally successful product that has sold over 260,000 vehicles in 50+ countries since its launch in 2015. Read more.

Yes Bank gains after selling stake in Fortis

Published on: 2:15 pm

  • Shares of Yes Bank gained 1% in the afternoon session on Wednesday after the bank sold 2.13% stake of Fortis Healthcare Limited.
  • "Yes Bank has sold 12.33 lakh equity shares having a nominal value of Rs10 each, constituting 2.13% of the paid-up share capital of Fortis Healthcare Limited in various tranches, the last being on December 18," the bank said in a statement after market hours to the exchanges on Tuesday. Read more.

Rupee extend gains against US Dollar as crude oil slips

Published on: 1:58 pm

  • The Indian rupee got an early Christmas present, as it posted its highest one-day gain since September 2013.
  • The rupee and bond prices extended gains in today’s session after crude oil prices slumped to a near 16-month low. Read more. 

Nifty trades above 10,950 mark; PSU Bank, Realty stocks gain

Published on: 1:15 pm

  • Benchmark indices were trading higher led by financial and FMCG stocks. The Sensex up 137 points at 36,485, while the Nifty up 54 points at 10,963.
  • The rupee is trading on a firm note, having breached the 70-mark against the US dollar to hit 69.86 in the morning trade. Currently, it is trading 26 paise up.
  • Shares of HDFC, HDFC Bank, ICICI Bank, L&T, Havells India and Marico were trading close to their respective record high levels on BSE.

MCX gold trades near 31,000

Published on: 12:35 pm

  • Gold prices were trading on a mixed note in noon trade on Wednesday as the gains caused by a weak dollar were offset amid caution ahead of the outcome of the US Federal Reserve's monetary policy meet.
  • The gain could also be attributed to the increased buying in exchange-traded funds as reflected by inflows. Read more. 

Nifty IT slips ~2% as rupee appreciates against USD

Published on: 12:20 pm

  • The Nifty IT index dropped ~2% in noon trade on Wednesday after the Indian rupee breached its crucial level of 70/US$ and appreciated 58 paise intraday to 69.86 against the US dollar.
  • Shares of HCL Tech, Infosys, Tech Mahindra, and Tata Elxsi led the fall on the index. Read more. 

Nifty PSU Bank up for eighth straight session; up ~2%

Published on: 12:14 pm

  • The Nifty PSU Bank index rallied for the eighth consecutive session and was up ~2% in Wednesday’s trade.
  • The Nifty Bank and Private Bank indices were also trading higher in the noon trade on the day. Read more. 

Mishra Dhatu Nigam wins Rs600cr order; stock gains 3%

Published on: 12:12 pm

  • Mishra Dhatu Nigam Ltd, in a filing to the exchanges on Wednesday, informed that the company has received an order worth Rs600cr.
  • Reacting to this, shares of the company gained 3% on Wednesday. Read more. 

Housing finance companies gain as RBI decides to ease liquidity crunch

Published on: 11:50 am

  • Shares of housing finance companies were trading in the green as the Reserve Bank of Indian decided to ease liquidity crunch by injecting Rs50,000cr in January under Open Market Operations (OMOs) through five auctions.
  • Accordingly, shares of Indiabulls Housing Finance, which surged 7%, were leading the group’s gain followed by Dewan Housing Finance Corporation (DHFL), which gained 5%. Read more. 

RCom drops after report India rejects airwave trading deal

Published on: 11:31 am

Shares of Reliance Communications (RCom) dropped 7% in late morning trade on Wednesday after media reports said that the Department of Telecommunications (DoT) has rejected the firm’s spectrum sale deal to Reliance Jio Infocomm.
The telecom department, on Tuesday, told RCom and Reliance Jio that it can’t approve their deal to trade airwaves as it does not conform to its guidelines. Read more. 

Sugar production up 2.1% yoy to 7.05mn tonnes upto December 15: ISMA

Published on: 11:30 am

  • The sugar production in India as on December 15, 2018 for sugar year 2018-19 stands at 7.05mn tonnes, 2.1% higher than corresponding previous period.
  • The sugar production for the corresponding previous period stood at 6.90mn tonnes. Read more. 

Nifty reclaims 10,950 mark; Indiabulls HF surges 7%

Published on: 10:56 am

  • Equity benchmark indices were trading higher tracking positive global cues as crude oil prices plunged. The Nifty50 trading up 43 points at 10,951, while the Sensex rose 103 points at 36,449.
  • HPCL, Indiabulls Housing Finance, Asian Paints, BPCL and IOC surged, while Infosys, HCL Technologies, Tech Mahindra, TCS, Vedanta fell in today’s trade.
  • FMCG index gained today led by Jubilant Foodworks which up 3% followed by Colgate Palmolive, ITC, GSK Consumer, Britannia Industries and Dabur India.

OMCs, aviation stocks rally as global crude oil prices slip

Published on: 10:55 am

  • Shares of oil marketing companies (OMCs) and aviation firms were trading in the green as West Texas Intermediate (WTI) oil futures plunged 7%, while Brent oil plummeted 5% on Tuesday.
  • Accordingly, shares of SpiceJet, which gained 4%, were leading the rally in aviation stocks. InterGlobe Aviation and Jet Airways also gained 2% each. Read more. 

Zee Entertainment extends losses on brokerage downgrade

Published on: 10:12 am

  • Zee Entertainment shares extended their loss by ~1% in early morning trade on Wednesday after plunging 10% on Tuesday.
  • Shares of the entertainment company have nosedived in the last two days after an international brokerage firm downgraded the stock. Read more. 

Rupee on the roll: Breaches 70/$-mark; appreciates 58 paise

Published on: 10:10 am

  • The Indian rupee appreciated 58 paise to trade at 69.86/$ in the early morning session on Wednesday.
  • The currency opened 39 paise higher at 70.05/$ compared to its previous close of 70.44/$. Read more. 

Strides to receive $42mn immediately from General Claims Escrow

Published on: 10:09 am

  • Strides Pharma Science announced that the company and its wholly owned subsidiary Strides Pharma Asia completed the sale of Agila Specialties and Agila Specialties Global, respectively, to Mylan Laboratories and Mylan Institutional Inc. pursuant to Sale and Purchase Agreements effective as of February 27, 2013 (gSPAsh) on December 4, 2013.
  • Mylan made claims against the General Claims Escrow which included a third party claim that was subject to resolution under international arbitration. Read more. 

Biocon stock advances after biosimilar Trastuzumab gets approval in the EU

Published on: 10:04 am

  • Shares of Biocon are marginally up on the NSE in today's early morning session.
  • Ogivri, a biosimilar Trastuzumab jointly developed by Biocon and Mylan, has been approved in the EU. Read more. 

Sensex, Nifty extend gains; OMC, Aviation stocks lead

Published on: 10:02 am

  • Equity benchmark indices extended their winning streak to the seventh day amid mixed global cues and the ongoing Federal Open Market Committee (FOMC) meeting.
  • The rally was led by Reliance Industries, ITC, and Asian Paints. Read more. 

J Kumar Infra extends gains on order win worth Rs1,349cr

Updated on: 10:00 am

Published on: 11:00 am

  • Shares of J Kumar Infra were up ~7% in early morning trade on Wednesday, thus extending their gain from Tuesday.
  • J Kumar Infra share prices have soared in the last two days as the company announced being awarded an order worth Rs1,394cr. Read more. 

IDFC Bank, Capital First complete merger; Stocks gain

Published on: 9:25 am

  • Shares of IDFC Bank and Capital First gained in the early morning trade on Wednesday on the BSE.
  • The company announced the completion of merger following the receipt of all requisite shareholder and regulatory approvals and the merged entity will be called IDFC First Bank, subject to shareholders’ approval. Read more. 

Nifty near 10,950 mark; HPCL, Asian Paints stocks gain

Published on: 9:19 am

  • Equity benchmark indices extended its winning streak to the seventh day amid mixed global cues and the ongoing Federal Open Market Committee (FOMC) meeting.
  • The Sensex gained 95 points to 36,443 and the NSE Nifty 50 Index rose 33 points to 10,942.
  • The market breadth was positive as 1,086 shares advanced, while 436 declined and, 520 shares remained unchanged on the NSE.

Asian stock markets trade mixed

Published on: 9:10 am

  • Asian stock markets were mixed on Wednesday after US Federal Reserve is expected to hike its benchmark overnight lending rate for a fourth and final time in 2018, and its outlook for 2019 will also be scrutinized by investors.
  • The yield on benchmark Japanese bonds slipped to within striking distance of zero percent. Read more. 

Federal Reserve poised to signal pause in US interest rate hikes

Published on: 9:08 am

  • The US Federal Reserve is expected to raise interest rates by a quarter point Wednesday and also signal it will not be raising rates as much as it had previously forecast.
  • But the outcome of the two-day monetary policy meeting is perhaps the most uncertain of any in the past decade. Read more. 

Share Market Update: 7 stocks that could be heading higher in the December series

Published on: 8:35 am

  • Indian equities are expected to open higher amidst positive global cues.
  • Tracking the global cues some of the major Asian indices along the US indices have witnessed an upward momentum hinting a follow-up action by the Indian equities getting into today's trade. Read more. 

RBI to infuse Rs50,000cr in January under OMO

Published on: 8:28 am

  • The Reserve Bank of India (RBI) will inject Rs50,000cr under Open Market Operations (OMOs) through five auctions, the central bank said in a press note on Tuesday.
  • "Based on an assessment of the durable liquidity needs going forward, the RBI has decided to conduct a purchase of Government Securities under Open Market Operations (OMOs) for an aggregate amount of Rs50,000cr in the month of January 2019. Read more. 

Top stocks in focus: Yes Bank, IDFC Bank, Fortis Healthcare, PVR

Published on: 8:20 am

  • IDFC Bank sets December 31 as record date for determining the shareholders of Capital First who shall be entitled to receive shares of the bank as consideration to the scheme of amalgamation of Capital First and its two arms with IDFC Bank.
  • Yes Bank said that it sold 2.13% stake in Fortis Healthcare. Read more. 

Broker Radar for December 19

Published on: 8:20 am

Philip Capital Maintained ‘Buy’ on Jubilant FoodWorks, hiked TP to Rs1,845 from Rs1,760
  • Poised to deliver strong Q3FY19 results.
  • Channel checks suggest that same store sales growth in October-November 2018 was 15%.
  • Deliveries to the railway station have started gaining momentum. Read more. 

Markets to open higher tracking Asian peers

Published on: 8:11 am

  • SGX Nifty is at 10995, up 40 points.
  • We expect the mid-caps to outperform as value buying and NAV propping sees that stocks will do well. Indian stocks outperform most global indices in December as fall in oil and yields boost rupee and sees foreign flows return.
  • On Tuesday, the Nifty saw another volatile session get bought into with the Nifty recovering from the morning fall to close in the green. Oil price fall was the kicker to see Indian indices outperform as crude hit 18 months lows yesterday. Read more.

Current FII Data

Published on: 8:11 am

FII/DII Data: In yesterday’s trading session, FIIs bought 144cr stock in the cash market, whereas DIIs sold 182cr worth of stock. In the derivative market, FIIs sold 950cr of Index futures and bought 940cr worth of Index options. In the Stock futures segment, FIIs sold 259cr worth of stock futures and bought 3cr stock options.

FII View: FIIs created bearish positions in Index Futures in yesterday’s trading session, which is deduced by the fact that they created 12217 net short contracts in the segment. The long-short ratio in Index Futures currently stands at 0.8x, since the start of the December series.

FII OI
(in000's)
% Chg % Chg
Since Expiry
Long/
Short Ratio
Long/Short
 Since Expiry
Index Long 173 1 24 0.8 0.8
Index Short 205 7 55
Index Call Long 243 (0) 26 2.5 0.8
Index Call Short 96 (6) 51
Index Put Long 377 2 50 2.3 0.9
Index Put Short 163 1 61

What not to miss today

Published on: 7:48 am

  • Markets to open higher; Nifty support @10819, resistance 11000.
  • FIIs purchased 144cr (cash), sold 950cr in Index Futures.
  • US market closed near 2018 low; Asian mixed.
  • RBI to infuse Rs50,000cr in January under OMO. Read more.

Derivative Watch

Published on: 7:43 am

  • Nifty and Bank Nifty Futures continued to witness an addition in long positions in the December series as open interest continued to rise on the back of a surge in the underlying.
  • On the options front, Bank Nifty witnessed short covering in in-the-money and at-the-money call option strikes with  27000CE and 27100CE witnessing a reduction of ~2.39 lakh shares and ~1.31lakh shares respectively which propelled the index higher.
  • Berger Paints and Indian Bank added fresh long positions. 

Bulk deal

Published on: 7:42 am

  • Godha Cabcon and Insulation: Mark Corporate Advisors sold 72,000 shares of the company at Rs 30 per share on the NSE.

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