Latest news and updates

03rd Jan, 2019

Nifty settles below 10,700-mark; Sensex slumps 377 points

Published on: 3:48 pm

  • Equity benchmark indices ended in the red on Thursday with the Sensex closing 377 points down at 35,513 levels. The Nifty dropped 120 points to close at 10,672 levels, well below its key level of 10,700.
  • Among shares, Infratel, Titan, and HCL Tech were the biggest gainer on the NSE, while Eicher Motors, Hind Petro, and ONGC lost the most.
  • All sectoral indices on the NSE ended the day in the red. Nifty Metal and Media indices, which dropped 2% each, led the sectoral indices’ losers.
  • Market breadth was negative on the NSE as 1148 shares declined, while 553 shares advanced and 361 remained under change.

Sensex, Nifty extend losses; Metal, Auto stocks slip

Published on: 3:19 pm

  • Equity benchmark indices continue to trade lower in the last hour of trading session. The Sensex slipped over 393 points at 35,498, while the Nifty fell 124 points at 10,669 mark.
  • Heavy selling pressure were seen in HDFC twins, RIL, L&T, and TCS.
  • The Nifty Media index slipped 2% on Thursday amid a selloff in PVR, Sun TV, Zee Entertainment Enterprises, and TV18 Broadcast stocks.  

European markets open lower after Apple's guidance weighs on tech stocks

Published on: 2:51 pm

  • European stock markets opened lower on Thursday after a revenue guidance cut from Apple added to fears of a slowdown in global economic growth.
  • The Stoxx Europe 600 dropped 0.8% led by the technology sector. Read more

Nifty Media slips 2%; PVR, Sun TV, Zee Ent top losers

Published on: 2:41 pm

  • The Nifty Media index slipped 2% on Thursday amid a selloff in PVR, Sun TV, Zee Entertainment Enterprises, and TV18 Broadcast stocks.
  • Shares of PVR, Sun TV, and Zee Entertainment Enterprises dropped 4%, 3%, and 2%, respectively, and led the fall on the index. Read more. 

Sensex slips over 200 points; Nifty holds 10,700-mark

Published on: 1:31 pm

  • Equity benchmark indices extended their losses on Thursday led by HDFC twins, L&T, ITC, and Axis Bank.
  • The Sensex was down 211 points at 35,677, while the Nifty fell 78 points at 10,714. Read more. 

Nifty Metal slides 2% on weak global cues

Published on: 12:45 pm

SMS Lifesciences India up 11%; trades at 52-week high

Published on: 12:30 pm

  • Shares of SMS Lifesciences India were trading at a 52-week high on the BSE in an otherwise range-bound market on Thursday after the company experienced an over 48.93x spurt in volumes. The stock has surged 39% in the past two days.
  • SMS Lifesciences India Ltd share price is currently at Rs657, up Rs66.6, or 11.28%, from its previous close of Rs590.40 on the BSE. Read more

MCX gold heading towards 32,000

Published on: 12:30 pm

  • Gold hit its highest level since June 20, 2018, on Wednesday, aided by weaker equity prices which increased its appeal as a safe-haven asset. February Comex gold settled at $1,284.10, up 0.22%.
  • Gold was also supported by expectations of lower interest rates in 2019. Read more. 

Jet Airways falls 11% intraday on payment default, rating downgrade

Published on: 12:12 pm

  • Shares of Jet Airways extended their decline and fell 11% on the BSE on Thursday after the airline company delayed payment of dues to a consortium of Indian banks. Also, domestic rating agency ICRA had, on Wednesday, downgraded the airline’s Rs10,963cr-loan and debenture ratings.
  • Jey Airways has large debt repayments due over December 2018 to March 2019 (Rs1,700cr), FY20 (Rs2,444.5cr), and FY21 (Rs2,167.9cr). Currently, the company is undertaking various liquidity-boosting initiatives, including equity infusion and a stake sale in Jet Privilege Pvt Ltd (JPPL), among others. The timely implementation of these initiatives remains critical to its credit profile.  Read more

Sensex, Nifty at day’s low; HDFC twins, L&T stocks drag

Published on: 11:56 am

  • Equity benchmark indices extended decline in the morning session amid mixed Asian cues. Selling pressure were witnessed in HDFC twins, RIL, L&T, and ITC.
  • The Sensex is trading lower by 194 points at 35,696 level and Nifty is trading lower by 67 points at 10,725 level. The market breadth is negative with 658 shares advancing, while 953 shares declining, and 447 shares remaining unchanged.
  • Infratel, HUL, HCL Tech, GAIL, and Asian Paints were the top gainers on the Nifty50, while HPCL, Eicher, IOC, and BPCL lost in today’s session.

Ashok Leyland acquires 27.5% in Ashley Aviation

Published on: 11:30 am

  • Shares of Ashok Leyland were down ~2% in early morning trade on Thursday, even as the company announced acquiring 10,89,985 shares representing 27.5% share of Ashley Aviation Limited (AAL) at a price of Rs5.10 per share.
  • “Consequent to the above, the company's shareholding in AAL will increase from 49% to 76.25% and thus AAL will become a subsidiary of the company” mentioned the company in an exchange filing on Wednesday evening, post market hours. Read more. 

OMCs fall as Brent climbs 2%

Published on: 11:17 am

Alembic Pharma gets USFDA nod for Pramipexole Dihydrochloride

Published on: 11:13 am

  • Alembic Pharmaceuticals has received approval from the USFDA for its Abbreviated New Drug Application (ANDA) Pramipexole Dihydrochloride Extended-Release Tablets, 0.375 mg, 0.75 mg, 1.5 mg, 2.25 mg, 3 mg, 3.75 mg, and 4.5 mg.
  • Pramipexole Dihydrochloride Extended-Release Tablets, 0.375 mg, 0.75 mg, 1.5 mg, 2.25 mg, 3 mg, 3.75 mg, and 4.5 mg have an estimated market size of $38.6mn for twelve months ending December 2017, according to IQVIA data. Read more. 

BSE Telecom index slips led by Airtel, Vodafone Idea

Published on: 10:59 am

  • The BSE Telecom index is trading lower by 0.16% at 988 levels, whereas, the major benchmark indices, Sensex is trading lower by 95 points at 35,796 level and Nifty is trading lower by 35 points at 10,758 level.
  • Bharti Airtel was contributing majorly to the index losses, followed by MTNLVodafone Idea, RCom and HFCL, which were also trading lower on the BSE.
  • On the flip side, Tata Comm, and Bharti Infratel stocks are trading in the positive zone. Read more

L&T Construction wins orders worth Rs1,060cr

Published on: 10:34 am

  • The construction arm of L&T has won orders worth Rs1,060cr.
  • The Smart World and Communication business has secured a major order from the Andhra Pradesh State FiberNet Ltd (APSFL) for Bharatnet Phase-II works to establish an IPMPLS Infrastructure covering the 13 districts of Andhra Pradesh, as per BSE data.
  • Larsen & Toubro Ltd is currently trading at Rs1,427.25 up by Rs0.85 or 0.06% from its previous closing of Rs1,426.40 on the BSE. Read more

Dena Bank, Vijaya Bank slip, BoB gains after merger deal

Published on: 10:22 am

  • Shares of Dena Bank and Vijaya Bank tanked as the share swap ratios of their merger with Bank of Baroda has been seen at “a steep discount” to their closing prices on Wednesday.
  • The board of directors of Dena Bank has approved the fair equity share exchange ratio for the merger of Dena Bank with Bank of Baroda. The three boards approved the issuance of 110 BoB shares for every 1,000 held in Dena, and 402 BoB shares for every 1,000 shares held in Vijaya Bank.
  • Dena Bank is currently trading at Rs14.75 down by Rs3.2 or 17.83% from its previous closing of Rs17.95 on the BSE. Read more

Tata Power extends power purchase agreement with BEST; stock gains ~1%

Published on: 9:35 am

  • Shares of Tata Power were trading ~1% higher on Thursday after Maharashtra Electricity Regulatory Commission (MERC) granted approval to Brihanmumbai Electric Supply and Transport Undertaking (BEST) to extend its existing Power Purchase Agreement (PPA) with the company for a period of the five years.
  • With this, the PPA, for the supply of 676.69 MW from the company's Trombay Thermal and hydro plants, is valid from April 01, 2019, to March 31, 2024, the company said in a press release after market hours to the exchanges on Wednesday. Read more.

Sensex, Nifty trade volatile; Dena Bank, Vijaya Bank stocks tumble

Published on: 9:18 am

  • Equity benchmark indices opened lower on Thursday amid mixed trends in Asian markets. Realty, FMCG, IT, and PSU Bank were trading higher, while metal, media, and Bank Nifty in the negative zone.
  • The Sensex up 10 points at 35,900, and the Nifty down 14 points at 10,778. The market breadth is narrow as 741 shares advanced, while 723 shares declined, and 565 shares remained unchanged.
  • Oil marketing stocks were trading lower as crude oil prices have inched higher. HPCL, BPCL, and IOC were down on 3-2% in today’s trade.

IndiaNivesh to invest Rs35cr in Autoline Industries

Published on: 9:17 am

  • Autoline Industries has entered into an Investment Agreement with IndiaNivesh Renaissance Fund (Category 11 alternative investment fund) managed by IndiaNivesh First Bridge Fund Managers Pvt. Ltd..
  • The auto company executed the agreement and other required documents on January 02, 2019. Read more. 

Asian stock trade flat; Apple slashes revenue guidance

Published on: 9:05 am

  • Asian stock markets was trading mixed on Thursday after Apple Inc. added to global growth concerns with a cut in its sales outlook.
  • Apple lowered its revenue guidance to $84bn, down from $89-$93 billion it had previously projected. Read more. 

RBI governor to meet representatives of MSME, NBFCs next week

Published on: 9:00 am

  • Reserve Bank Governor Shaktikanta Das will meet representatives of MSMEs and non-banking financial companies (NBFC) next week, a PTI report said.
  • The update came in the next day after the RBI announced a one-time loan restructuring scheme for the MSME sector, the report said.
  • The central bank in its meeting held on November 19, 2018, had decided to permit a one-time restructuring of existing loans to MSMEs that are in default but ‘standard’ as on January 1, 2019, without an asset classification downgrade. Read more.

Share Market Update: These 5 stocks can give you assured returns in the January series

Published on: 8:40 am

  • Arbitrage is the process of simultaneous buy and sale of shares in order to make profit from the difference in the price of underlying assets.
  • It is the process of exploiting risk-free return which arises due to price differences. Read more. 

RJio, BSNL gain, Vodafone Idea lost net 73.61 lakh users in Oct: TRAI report

Published on: 8:30 am

  • Considering the importance of the MSMEs in the Indian economy, it is essential to understand the structural bottlenecks and factors affecting the performance of the MSMEs.
  • It has, therefore, been considered necessary that a comprehensive review is undertaken to identify causes and propose long term solutions, for the economic and financial sustainability of the MSME sector. Read more. 

Current FII Data

Published on: 8:18 am

FII/DII Data:  In yesterday’s trading session, FIIs sold 621cr stock in the cash market, whereas DIIs sold 226cr worth of stock. In the derivative market, FIIs sold 817cr of Index futures and bought 80cr worth of Index options. In the Stock futures segment, FIIs sold 970cr worth of stock futures and bought 93cr stock options.

FII View: FIIs created bearish positions in the derivative segment in yesterday’s trading session, which is deduced by the fact that they created 10700 net short contracts in Index Futures, while simultaneously creating 1046 net short contracts in Index Put Options.

FII OI
(in000's)
% Chg % Chg
Since Expiry
Long/
Short Ratio
Long/Short
 Since Expiry
Index Long 169 5 15 1.1 1.0
Index Short 170 13 18
Index Call Long 161 4 22 4.8 1.2
Index Call Short 38 17 16
Index Put Long 293 6 31 4.1 1.1
Index Put Short 83 23 36

Markets to open flat ahead of weekly Bank Nifty expiry

Published on: 8:17 am

  • SGX Nifty is at 10867, up 35 points. For today, we expect some consolidation after the huge fall in yesterday’s trade with selected mid caps seeing outperformance.
  • On Wednesday, the Nifty saw a weak session after almost 4 days of a rally as markets succumbed to the global cues.
  • The rupee led a weakness as foreign investors sold stocks against the backdrop of over 2-3% fall in the most Asian indices. Metals and auto saw huge unwinding as both indices fell ~3% on weak data for December and China slow down. Read more.

Bulk deal

Published on: 8:16 am

  • BEML: Alphagrep Securities traded 3.36 lakh shares a Rs920.86-921.21 a share.
  • Jet Airways: Tower Research Capital Markes traded 9.66 lakh shares at Rs 270.51-270.66 a share.
  • MTNL: Adroit Financial Services sold  21.84 lakh hares at Rs18.39 a share.
  • Reliance Communications: Skyveil Trade Solutions traded 2.15cr shares at Rs13.93-13.95 a share.

Top stocks in focus: Bank of Baroda, Dena Bank, Tata Power

Published on: 8:00 am

  • PSU Banks in focus today as cabinet approved the merger of Vijaya Bank and Dena Bank with Bank of Baroda. 
  • Indian Oil Corporation said it did not plan to recover the losses incurred due the government’s decision in October asking the fuel retailers to cut gasoline and diesel prices by Rs1 per liter said Chairman Sanjiv Singh, as per media reports. Read more. 

RBI constitutes expert committee on MSMEs

Published on: 8:00 am

Considering the importance of the MSMEs in the Indian economy, it is essential to understand the structural bottlenecks and factors affecting the performance of the MSMEs.
It has, therefore, been considered necessary that a comprehensive review is undertaken to identify causes and propose long term solutions, for the economic and financial sustainability of the MSME sector. Read more. 

What not to miss today

Published on: 7:55 am

  • Markets to open flat ahead of weekly Bank Nifty expiry; Nifty support @ 10700, resistance 10850.
  • FIIs sold 621cr (cash), 817cr in Index Futures.
  • US markets post modest gain; Asian shares mixed.
  • Union Cabinet clears Dena Bank, Vijaya Bank merger with Bank of Baroda. Read more.

Broker Radar for January 3

Published on: 7:55 am

HSBC on Indian Tractor Industry; Tractor growth is slowing down, but still remains healthy led by few key states.
  • Channel inventory is even lower than previous year and EMI collections robust.
  • Contrary to market fears, rural demand remains robust. Read more. 

Derivative Watch

Published on: 7:34 am

  • Nifty and Bank Nifty future added fresh short positions.
  • Call writing was seen on out of the money call options for both Nifty and Bank Nifty.
  • PSU Bank stocks saw unwinding of long positions.
  • Eicher Motors ended the day on a capitulating note, plummeting ~8% on account of subdued December Auto sales numbers. The stock saw weak rollovers to the January series and has added massive open interest consisting mainly of short positions in yesterday's trade.
  • On the options front, the implied volatility of major put option strikes for the January contracts has increased sharply, indicating a rise of downside fear among the traders. Even the maximum open interest put base has shifted lower, indicating a continued downward momentum up to 20,000 levels.

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