Latest news and update

13th Mar, 2019

Sensex rallies over 200 points; IndusInd, Yes Bank stock gains 4%

Published on: 3:32 pm

  • Equity benchmark indices extended rally for the third consecutive session. The BSE Sensex ended 216 points higher at 37,752 and the NSE Nifty 50 rose 40 points at 11,342.
  • IndusInd Bank, Yes Bank, Bajaj Finance, HDFC Bank and HPCL were the top gainers on the Nifty, while losers include Bharti Airtel, IOC, Vedanta, Zee Entertainment and Sun Pharma.
  • Nifty Private Banks gained the most while Nifty Pharma and Nifty Metals were the biggest draggers in today's trade.

Nifty above 11,300 mark; Banking, Realty stocks rally

Published on: 2:35 pm

  • Equity benchmark indices were trading higher in the afternoon session on Wednesday amid heavy buying in banking, realty, and financial services shares.
  • The Sensex rallied 187 points to 37,723, while the Nifty was up 32 points to 11,333. The market breadth was negative with 640 shares advancing, 1,070 shares declining, and 367 remaining unchanged on the BSE. Read more

TCI Express gains 2% on proposal to acquire stake in Japanese firm

Published on: 2:13 pm

  • Shares of TCI Express gained 2% on Wednesday as the company in its filing to the exchanges informed that it is in the process of acquiring the stake in Uketoru Co, Ltd, Japan.
  • "The company is in process of acquiring 7.7% stake for 20mn yen in Uketoru Co Ltd, which reported turnover of 13,65,635 yen in the year ended March 2018," the company said in a press note to the exchanges on Wednesday. Uketoru Co, Ltd, Japan is in ExpressB2Ctechnology business. Read more

Nifty Bank index up 1%; HDFC Bank up 2%

Published on: 1:17 pm

  • The Nifty Bank index was trading higher at 28,836 in the noon trade on Wednesday. HDFC Bank and IndusInd Bank gained over 2%, followed by Axis Bank are also trading marginally up.
  • Shares of PNBBank of Baroda, and RBL Bank fell 2%, and those of Yes Bank, SBI, and ICICI Bank dropped 1%. Read more

MindTree gains 1% on reports of L&T acquiring stake in co

Published on: 12:29 pm

  • Shares of Mindtree gained 1% on Wednesday after media reports suggested that Larsen & Toubro (L&T) is likely to acquire ~20% stake owned by Coffee Day founder VG Siddhartha’s stake in the company.
  • As per the Mint report, the acquisition deal could trigger a hostile takeover bid by L&T to make an open offer to hike its stake to 51%. Meanwhile, CNBC-TV18 reported the share sale could occur in the Rs950-1,000 price band. Read more

Zydus gets final USFDA approval for Potassium Chloride ER capsules

Published on: 12:16 pm

  • Zydus Cadila has received the final approval from the USFDA to market Potassium Chloride Extended-Release Capsules USP (US RLD — Micro-K Extended-Release Capsules), 8 mEq (600 mg) and 10 mEq (750 mg).
  • It will be manufactured at the group’s formulations manufacturing facility at SEZ, Ahmedabad, the company said in the BSE filing.
  • This medication is a mineral supplement used to treat or prevent low amounts of potassium in the blood. Read more.

ONGC, South Indian Bank stock down post block deal

Published on: 12:12 pm

  • Shares of ONGC  were trading 2% down on the BSE in the late morning trade after ~38.2 lakh shares changed hands in a block deal. Shares of South Indian Bank slipped ~1% after 20 lakh shares changed hands in two block deals on BSE.
  • Besides, shares of IndusInd Bank rose 2% after ~10 lakh shares changed hands in a block deal on NSE. Read more.

Live Market Update: Markets trade on a flat note with marginal hint of profit booking

Published on: 11:22 am

  • Indian equity markets are trading on a flat note in Wednesday's morning session amid a marginal hint of profit booking across the major counters. The Nifty Bank index is outperforming marginally led by the strong gain in HDFC Bank. SpiceJet continues to trade with a negative bias as the government announced to stop the usage of Boeing 737 MAX planes. 
  • Further, Mindtree gained ~2% as the media reports suggested that L&T may take over the company. Just Dial added a whopping ~35% in the fresh open interest, consisting mainly of long positions as the stock price surge ~5% in trade. Read more

Nifty Metal drops 2% on weak global cues

Published on: 11:11 am

The Nifty Metal index dropped 2% in Wednesday’s late morning trade on weak global cues amid fall in the Asian equity markets. Shares of SAILJSW SteelJindal SteelNALCO, and Jindal Stainless (Hisar) were leading the index’s fall. Read more

Nifty holds 11,300 mark; IndusInd Bank, Eicher stocks gain

Published on: 11:05 am

  • Equity benchmark indices were trading flat on Wednesday, with the Sensex up 61 points at 37,596. The Nifty is marginally up 4 points at 11,304.
  • The Nifty PSU Bank index was trading 0.58% lower led by IDBI Bank, Indian Bank, Union Bank, and PNB.

Rupee gains by 6 paise against US dollar

Published on: 10:13 am

  • The Indian rupee extended its gains for the third consecutive session on Wednesday. The domestic unit gained by 6 paise to 69.65/$ led by sustained buying by overseas investors. The yields on the 10-year government bonds were unchanged at 7.36%. Read more

Nifty above 11,300 mark; Jet Airways, SpiceJet stocks drop

Published on: 9:47 am

  • Equity benchmark indices opened on a flat note on Wednesday amid weak global cues. On the sectoral front, Nifty media and metal indices are under selling pressure, while realty, banking, FMCG, and IT indices were trading up.
  • The Sensex rose 89 points to 37,624 levels, while the Nifty was up 19 points to 11,320 levels. The market breadth was neutral with 830 shares advancing, 733 shares declining, and 499 remaining unchanged on the BSE. Read more

SpiceJet, Jet Airways slip after DGCA grounds Boeing 737 Max aircraft

Updated on: 9:44 am

Published on: 10:44 am

  • Shares of SpiceJet slipped 5% and those of Jet Airways dropped 3% on Wednesday after the Directorate General of Civil Aviation (DGCA) grounded Boeing 737 Max aircraft with immediate effect.
  • "These planes (Boeing 737 Max aircraft) will be grounded till appropriate modifications and safety measures are undertaken to ensure their safe operations," the Civil Ministry said on Social Media platform. Read more

SPARC enters into a research collaboration with HitGen Limited

Published on: 9:24 am

Sensex, Nifty open flat; IOC, ONGC stocks slip 3%

Published on: 9:16 am

  • Equity benchmark indices opened on a flat note amid negative global cues.
  • The Sensex slipped 14 points to 37,520, while the Nifty was down 22 points to 11,279. The market breadth was negative with 654 shares advancing, 827 shares declining, and 554 remaining unchanged on the BSE.
  • On the sectoral front, auto, bank, infra and metal indices are under selling pressure, while FMCG and IT indices are trading with marginal up.

Axis Bank appoints Rakesh Makhija as new Chairman for 3 years

Published on: 9:08 am

  • Axis Bank appointed Rakesh Makhija as its new Non-Executive Part-Time Chairman, the bank said in a press note after markets hours to the exchanges on Tuesday.
  • Rakesh Makhija, who is the Chairman of SKF India, will take over from current Axis Bank Chairman Sanjiv Mishra, when his term comes to an end on July 17. Read more

Asian markets trade lower on Wednesday; Nikkei index slips 1%

Published on: 8:56 am

  • Asian stock markets were trading in the negative territory amid fresh global uncertainties that weighed on stocks as some traders took profits from a rally earlier in the week.
  • Meanwhile, investors have also been closely watching developments in Britain, although they appeared to shrug off the latest developments. Parliament voted to reject a deal for the UK. to exit from the European Union. The move plunges the Brexit process into chaos just 17 days before Britain is due to leave the bloc. Read more

Current FII data

Published on: 8:40 am

FII/DII Data: In yesterday’s trading session, FIIs bought 2478cr worth of stock in cash, whereas DIIs sold 990cr worth of stock. In the derivative market, FIIs bought 1975cr of Index futures and sold 598cr worth of Index options. In the Stock futures segment, FIIs bought 221cr worth of stock futures and sold 75cr stock options.

FII View: In Index future segment, FIIs index future long/short ratio shifted from 1.1x to 1.2x on account of heavy buying to the tune 30221 contracts of index futures. The trend of doing a collar spread continues as, they created 24573 contracts of speculative long positions in index call options and they wrote off 45760 contracts of index puts, clearly indicating an expectation of the positive momentum for the indices.

FII OI
(in000's)
% Chg % Chg 
Since Expiry
Long/
Short Ratio
Long/Short
 Since Expiry
Index Long 150 25 59 1.2 1.1
Index Short 123 10 51
Index Call Long 275 10 (80) 3.9 3.9
Index Call Short 71 1 (95)
Index Put Long 294 4 (84) 1.3 1.3
Index Put Short 225 25 (87)

SGX Nifty indicates a flat opening for Indian markets

Published on: 8:10 am

  • SGX Nifty is at 11261, up 49 points. For today, we expect some consolidation after a heady start to the week as Nifty tries to stay above 11300, while broader market sees more traction.
  • On Tuesday, Nifty saw another strong session with the index gaining 130 points & closing above 11300. New highs of 2019 seem to sustain as foreign investors buy handsomely with best inflows in the last 2 years.
  • Local mutual funds book profit while retail investors see reprieve as midcaps continue to outperform. Read more.

Top stocks in focus: Kotak Mahindra Bank, MSTC IPO, HDFC Life, Axis Bank

Published on: 8:09 am

  • Kotak Mahindra Bank sought the court’s interim protection on founder stake issue. The bank’s lawyer Harish Salve stated that the bank can give an undertaking that founders won’t vote in excess of 20% until May 2020.
  • MSTC IPO to open today and close on Friday, March 15, 2019, with a price band of Rs121-128 per equity share of face value of Rs10 each of the company (the equity shares). Read more

Bulk Deals

Published on: 8:00 am

  • Reliance Communications: Rattanindia Finance Private Limited sold 1.51cr shares of the company at Rs5.25 per share.
  • Bajaj Consumer Care: Promoter Bajaj Resources sold 1.01cr shares or 6.85% equity at Rs316.42 each. ICICI Pru MF acquired 9 lakh shares or 0.61% equity at Rs314.8 each.
  • Nandan Denim: Polus Global Fund sold 6 lakh shares or 1.25% equity at Rs54.75 each. Anil Dhanuka acquired 6 lakh shares or 1.25% equity at Rs54.75 each.

What not to miss today

Published on: 7:58 am

  • Markets to open flat; Nifty support @11227, resistance 11350.
  • FIIs bought 2473cr (cash), 1975cr in Index futures.
  • Asian stocks down; US mixed amid weak economic data.
  • Kotak Mahindra Bank sought the court’s interim protection on founder stake issue. Read more.

Derivative watch

Published on: 7:33 am

  • Since the start of the March series, Bank Nifty futures has added ~110% in fresh open positions along with a rise of ~6.5% in the underlying price, clearly indicating a continued build-up of long positions.
  • On the options front, call writers rush for cover, as a big delta move in the index propelled huge short covering as heavy unwinding to the tune of 50% to 70% was seen in the call option strikes from 28000 to 28400.
  • IndusInd Bank & Bharti Airtel added fresh long positions with a fresh spike in open interest, while Apollo Hospital added fresh short positions.  
  • Escort 860CE added massive open positions to the tune of ~2925% along with a 2x surge in the option premium, clearly indicating a continuation of the current impulse move. 

Editors Choice

 

Blogs & Personal Finance

More