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14th Feb, 2019

European stocks rally amid gain in industrial-goods, food shares

Published on: 3:54 pm

  • Shares in the European markets were trading in the green on Thursday led by the sharp rally in industrial-goods and food shares amid a slew of cheering earnings numbers of companies.
  • Credit Suisse reported that trading losses eclipsed wealth-management gains, AstraZeneca forecast expanded earnings for the year, while Airbus scrapped the A380 superjumbo model. Read more

Nifty settles below 10,800 mark; Yes Bank stock jumps 31%

Published on: 3:33 pm

  • Equity benchmark indices ended lower on Thursday’s trade led by HDFC Bank, RIL, and Infosys.
  • On the sectoral front, energy, IT and metal stocks witnessed selling pressure, while auto, bank, infra and pharma sectors ended in the positive zone.
  • The Sensex ended down 158 points at 35,876, while Nifty slipped 48 points at 10,746. About 1167 shares have advanced, 1344 shares declined, and 121 shares are unchanged. 

Pvt Bank stocks gain in today's trade; Yes Bank surges 29%

Published on: 3:11 pm

  • The Nifty private banks index was among the top sectoral gainers in today’s session followed by media, auto, and pharma.
  • The Nifty pvt bank index gained up to ~1% at 15,375. Shares of Yes Bank, which surged over 29%, were leading the index’s gain. Followed by South Indian Bank, ICICI Bank, IDFC First Bank, and IndusInd Bank also contributed to the gain in the banking index. Read more

DHFL gains 16% after Harshil Mehta clarifies resgination on social media

Published on: 3:05 pm

  • Shares of Dewan Housing Finance Corporation (DHFL) rebounded from lows and is trading 16% higher on Thursday after Harshil Mehta, ex-whole time director, clarified about his resignation on social media.
  • "My resignation is in-line with an announcement of getting a strategic partner into the co. Have come out to provide confidence to investors about the retail portfolio of co," said Harshil Mehta of DHFL on his personal social media account. Read more.

Nifty Media index climbs 4% led by Zee Ent, Sun TV, INOX Leisure

Published on: 2:55 pm

Sensex off day's low; Yes Bank, DHFL stocks lead

Published on: 2:02 pm

  • Equity benchmark indices were trading in the negative zone on Thursday’s session amid weak global cues and rising crude oil prices.
  • The Sensex is down 70 points at 35,964, while the Nifty slipped 25 points at 10,769. The market breadth was negative with 764 shares advancing, 908 shares declining, and 390 remaining unchanged.
  • Yes Bank, Indiabulls HF, Zee, and Hero MotoCorp are trading higher on the NSE, while IOC, BPCL, and Coal India are trading lower. Read more

LTI acquires Germany based NIELSEN+PARTNER

Published on: 12:50 pm

  • Larsen & Toubro Infotech Ltd., a global technology consulting and digital solutions company, has signed a definitive agreement to acquire NIELSEN+PARTNER (N+P), an independent Temenos WealthSuite specialist, headquartered in Hamburg, Germany.
  •  This acquisition is synergistic to Syncordis acquisition that LTI announced in 2017. Read more

Sensex, Nifty under pressure; Sugar stocks rally

Published on: 12:47 pm

  • Equity benchmark indices were trading in the negative zone on Thursday’s session amid weak global cues and rising crude oil prices.
  • Sugar stocks gained in Thursday’s trade after media reports stated that in a meeting of CoS, a proposal was discussed to hike in MSP. Shares of Balrampur Chini Mills, Dhampur Sugar Mills, Bajaj Hindusthan Sugar, Shree Renuka Sugars in the range of 6-3% respectively.
  • The Sensex is down 170 points at 35,870, while the Nifty slipped 51 points at 10,742. The market breadth was negative with 645 shares advancing, 1,003 shares declining, and 412 remaining unchanged.

Live share market update: Markets trade with negative bias, Nifty down 46 points

Published on: 12:42 pm

  • Indian equity markets are witnessing sideways consolidation after trending lower in early morning trade. The Nifty was trading 46 points lower at 10,748, near its 200 DEMA which is currently at 10,744.
  • Bank Nifty relatively outperformed and was up 37 points at 26,920, mainly driven by strong gains in Yes Bank which was up 22.8% at Rs208/share after the company announced no divergence on asset classification and provisioning for FY18.
  • Among sectoral indices, Nifty Metal is the worst performing index, down 1.79% led by a sharp correction in Coal India and NALCO. Read more

January wholesale inflation at 2.76%; vegetable inflation at -4.21%

Published on: 12:19 pm

  • The annual rate of inflation, based on monthly WPI, stood at 2.76% (provisional) for the month of January, 2019 (over January, 2018) as compared to 3.80% (provisional) for the previous month and 3.02% during the corresponding month of the previous year. Build up inflation rate in the financial year so far was 2.49% compared to a build-up rate of 2.47% in the corresponding period of the previous year, as per a press noted released by the Government today.
  • The rate of inflation based on WPI Food Index consisting of ‘Food Articles’ from Primary Articles group and ‘Food Product’ from Manufactured Products group increased from 0.07% in December, 2018 to 1.84% in January, 2019. Read more

VA Tech Wabag receives order worth Rs520cr; stock jumps 4%

Published on: 12:18 pm

  • Shares of VA Tech Wabag gained 4% on Thursday after the company received an order worth Rs520cr under Namami Gange from Jajmau Tannery Effluent Treatment Association.
  • The scope of this Design and Build contract includes engineering, supply, erection, construction, and commissioning of 20MLD Tertiary Treatment Plant over a period of 24 months, the company said in a press note to the exchanges on Thursday. Read more

Nifty Metal index declines 2% led by NALCO, Jindal Steel, Hindalco

Published on: 11:38 am

OMC stocks decline; ONGC slips 2.5% ahead of Q3 numbers

Published on: 11:25 am

  • Shares of oil marketing companies (OMCs) were trading lower in morning trade on Thursday. The BSE Oil and Gas index was trading 2.1% lower at 12,880.
  • Shares of IOC, BPCL, ONGC, and HPCL were trading in the negative zone. On the flip side, IGL, and Petronet LNG gained in today’s trade.
  • ONGC stock fell 2.5% ahead of Q3FY19 numbers. Read more

Karur Vysya Bank stock tanks 18% on poor Q3 numbers

Published on: 10:51 am

  • Shares of Karur Vysya Bank were down by 20% and hit lower circuit on Thursday in the morning trade as bad loans spiked in Q3FY19. The bank posted a 70% decline in its net profit at Rs21.20cr for October-December quarter of FY19. The bank had clocked a profit of Rs71.49cr in the year-ago period.
  • Gross NPAs spiked to 8.49% of gross advances as at December-end 2018 from 5.94% by December 2017. Net NPAs rose to 4.99% from 3.88% on qoq basis. Read more

Rupee trades weaker by 8 paise against US Dollar

Published on: 10:33 am

  • The Indian rupee slipped by 14 paise against US Dollar on increased demand for the greenback from importers and banks amid rising global crude prices. Besides, strong dollar demand in overseas markets and a lower opening of the domestic equity market weighed on the rupee.
  • However, the rupee opened weaker, but recovered partially to trade at 70.89, still down by 8 paise against the dollar.
  • The local currency on Wednesday ended by 10 paise lower at 70.80/$ on rising global crude prices and heavy foreign fund outflows. Read more

RBI penalises SBI, BoB, Union Bank of India, Corporation Bank for non-compliance of norms

Published on: 10:32 am

  • The Reserve Bank of India has imposed the penalty on State Bank of India (SBI), Bank of Baroda (BoB), Union Bank of India, and Corporation Bank for non-compliance of norms. Accordingly, the RBI has imposed the penalty of Rs1cr on BoB, SBI, and Union Bank of India, while Rs2cr on Corporation Bank.
  • State Bank of India's share price is currently at Rs266, down by Rs2.25 or 0.84%, from its previous close of Rs268.25 on the BSE. Read more

DHFL’s whole time director Harshil Mehta resigns; stock declines 4%

Published on: 10:00 am

  • Shares of Dewan Housing Finance Corporation’s (DHFL) declined 4% in Thursday’s morning trade after the company’s whole time director Harshil Mehta resigned.
  • Mehta resigned due to full-time engagement with other assignments within the company. "However, he would continue to be associated with the company and shall hold the designation of Executive President -Retail Business with effect from February 14, 2019," the company said in a press note after market hours to the exchanges on Wednesday. Read more.

Sensex, Nifty trade lower; Bank Nifty stocks up

Published on: 9:50 am

  • Equity benchmark indices opened lower tracking cues from Asian markets. The Indian rupee opened lower at 70.87 per dollar on Thursday vs. its previous close 70.80/$.
  • Shares of Yes Bank climbed 25% on the BSE in Thursday's morning trade as the Reserve Bank of India (RBI) has not found any divergence in the asset classification and provisioning done by the lender during 2017-18. Read more.

L&T Construction bags orders across two of its business segments

Published on: 9:48 am

  • The construction arm of L&T has won orders across two of its business segments.
  • Power Transmission & Distribution (PT&D) Business: The business has bagged several EPC orders.
  • On the International front, an order has been secured in the United Arab Emirates for the construction, supply, installation, testing, and commissioning of a 132/11kV substation and associated works. PT&D has also won an order for a 132kV cable circuit. Read more

Yes Bank spurts 25% as RBI finds no divergence in provisioning, asset classification

Published on: 9:26 am

  • Share of Yes Bank climbed 25% on the BSE in Thursday's morning trade as the Reserve Bank of  India (RBI) has not found any divergence in the asset classification and provisioning done by the lender during 2017-18.
  • Around 0.9% equity worth Rs464cr trade in multiple blocks on NSE at an average of Rs 210 per share. Read more

Nifty opens below 10,800 mark; Yes Bank stock surges 25%

Published on: 9:18 am

  • The Sensex is down 78 points at 35,956, while the Nifty slipped 25 points at 10,768. The market breadth was negative with 590 shares advancing, 894 shares declining, and 554 remaining unchanged.
  • Yes Bank, Indiabulls HF, Hero MotoCorp, Cipla, and Eicher are trading higher on the NSE, while Airtel, Infratel, Kotak Mahindra Bank, and Coal India are trading lower.
  • Volatility index India VIX was up 0.61% to 15.82.

Cabinet approves hike in MSP for raw jute

Published on: 9:09 am

  • The Cabinet Committee on Economic Affairs has given its approval for the increase in the Minimum Support Price (MSP) for raw jute for 2019-20 season.
  • The Minimum Support Price (MSP) for Fair Average Quality (FAQ) of raw jute has been increased to Rs3,950 per quintal for 2019-20 season from Rs3,700 per quintal in 2018-19 season. Read more

Asian markets trade flat ahead of Sino-US talks

Published on: 9:07 am

  • Asian stock markets were trading flat on Thursday ahead of outcome of high-level trade talks between the US and China, and data on the Chinese economy.
  • The South China Morning Post reported on Wednesday that China's Xi will meet with US Treasury Secretary Steven Mnuchin and US Trade Representative Robert Lighthizer on Friday, as per media reports.
  • The Shanghai composite slipped fractionally, the Shenzhen component was slightly higher, while the Shenzhen composite advanced by 0.034%. Read more

IndiGo to cancel 30 flights per day till March-end: Media reports

Published on: 9:06 am

  • InterGlobe Aviation (IndiGo) is planning to cancel 30 flights per day scheduled for February and March to stabilize operations and adjust crew rosters, media reports stated.
  • The cancellations represent 2% of the airline company’s flights and that operation would be normalised completely by March 31, 2019, media reports stated citing IndiGo statement. Read more.

Yes Bank: RBI finds no divergence in provisioning, asset classification

Published on: 9:00 am

  • Yes Bank in its filing to the exchanges informed that the Reserve Bank of India (RBI) has not found any divergence in the asset classification and provisioning done by the lender during 2017-18.
  • The RBI assessed compliance by Banks with extant prudential norms on income recognition, asset classification and provisioning (IRACP) as part of its supervisory processes. Read more.

Broker Radar for February 14

Published on: 8:47 am

CLSA maintained ‘Sell’ on Bharat Forge with a TP of Rs420
  • Good quarter, but weak outlook.
  • See cyclical pressures ahead.
  • Fall in commodity prices poses risk to industrial exports.
CLSA maintained ‘Buy’ on J Kumar Infra with a TP of Rs315.
  • December quarter review: Net profit ahead; execution and new orders see upgrades.
  • Triggers: resolution of SEBI issue, marked pick-up in execution and resumption of order inflow.
  • Inexpensive play on high-growth urbanization Capex. Read  more

Top stocks in focus:Yes Bank, IndiGo, JSW Steel, DHFL

Published on: 8:35 am

  • Yes Bank says RBI finds no divergence in provisioning, asset classification.
  • IndiGo says it will cancel 30 flights/day till March-end.
  • JSW Steel receives LoI to buy Bhushan Power & Steel. Read more

FII and DII Data

Published on: 8:09 am

  • FII/DII Data: In yesterday’s trading session FIIs sold 676cr stock in the cash market whereas DIIs bought 713cr worth of stock. In the derivative market, FIIs bought 397cr of Index futures and sold 415cr worth of Index options. In the Stock futures segment, FIIs sold 301cr worth of stock futures and sold 189cr stock options.
  • FII View: FIIs created bullish positions in Index Futures which is deduced by the fact that they created 6249 net long contracts in the segment, while simultaneously creating 4534 short contracts in Index Put Options. The long-short ratio in Index Futures currently stands at 1.8x vs 1.7x.
FII OI
(in000's)		 % Chg % Chg
Since Expiry		 Long/
Short Ratio		 Long/Short
 Since Expiry
Index Long 213 5 96 1.2 1.8
Index Short 175 2 11
Index Call Long 233 (1) 29 3.2 1.0
Index Call Short 73 5 26
Index Put Long 363 1 28 2.0 1.0
Index Put Short 180 3 25

SGX Nifty indicates marginally negative opening for markets ahead of weekly expiry

Published on: 8:04 am

  • SGX Nifty is at 10,983, up 31.50 points. 
  • On Wednesday, Nifty saw a very strong opening get sold into, as mid caps carnage keeps markets under pressure.
  • Asian indices opened flat after seeing a superb week until now lead by the US markets and positive momentum on the US-China trade talks. Read more

Derivative Watch

Published on: 7:53 am

  • Tracking open positions since the start of the February expiry, the Nifty has added ~20% in open interest consisting mainly of short positions.
  • On the options front, PCR of the index is heading southward to close at 1.29x on the back of a build-up in call writing positions.  
  • Call writing was witnessed in OTM strikes with 10900CE and 11000CE witnessing an addition of ~8.08 lakh shares and ~5.69 lakh shares respectively. (14th Feb Expiry)

What not to miss today

Published on: 7:45 am

  • Markets to open marginally negative ahead of weekly expiry.
  • Nifty support @10750, resistance 10891.
  • US markets gained; Asian trade cautiously amid ongoing US-China trade negotiations.
  • Rupee snaps 6-days gain, ends 10 paise down at 70.80/$.
  • RBI clears Yes Bank of divergence. Read more.

Bulk deals

Published on: 7:25 am

  • GPT Infraprojects: Kuber India Fund sold 1.85 lakh shares of the company at Rs41 per share on the NSE.
  • SREI Infrastructure: Norges Bank AC Government Petroleum Fund purchased 30.15 lakh shares of the company at Rs 25.29 per share on the NSE.
  • Zee News: IFCI sold 30 lakh shares of the company at Rs14.07 per share on the NSE.
  • TeamLease Services: Goldman Sachs Asset Management A/C GS FDS SICAV GS Global Emerging Markets Equity Portfolio sold 90,531 shares of the company at Rs 2,898.2 per share on the BSE.

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