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Showing posts from February, 2018

Sensex down over 150 points; PNB, ICICI Bank stocks slip

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Benchmark indices were off their opening lows, led by buying witnessed in technology stocks and smart recovery in banks stocks. The stock markets declined for the second day and ahead of index of industrial production (IIP) numbers for February and December quarter GDP growth numbers.

At 11:40 AM, theBSESensex was trading at 34,173, down 173 points, while theNifty50index was trading at 10,498, down 56 points.

The BSE Midcap Index slipped 0.26% and the BSE Smallcap Index was down 0.13%.

Shares ofBinani Industriesrose 3% on a report that a consortium led by Dalmia Bharat has emerged as the top bidder for its subsidiary, Binani Cement, which is undergoing insolvency resolution process.
Steel Strips Wheels Limited (SSWL) announced that it has bagged a fresh export order for 2,000 truck wheels to be supplied to European Union (EU) market. The stock gained by 1%.

The Nifty PSU Bank Index was down 0.17%. PSU Bank Index was down over 17% in the month of February till now.ICICI Bankslipped over 2%…

Nifty slips below 10,500 mark on weak global cues; PSU banks drag

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Subdued trend across most global markets coupled with persistent weakness in banking stocks dragged Indian equity indices lower at the start of the session.

Global markets snapped the recent winning streak after comments from US Federal Reserve Chair Jerome Powell stoked fears of a faster pace of interest rate hikes in the US.

At 9:55 AM, the BSE Sensex was trading at 34,147, down 200 points, while the Nifty50 index was trading at 10,498, down 57 points.

The BSE Midcap Index slipped 0.50% and the BSE Smallcap Index was down 0.40%.

Shares of public sector banks were the worst performers after the government asked the lenders to examine non-performing assets worth more than Rs500mn for frauds in the wake of the $2-bn scam at Punjab National Bank.
PNB's stock slumped over 4%, dragging the Nifty PSU Bank index over 2%.

Shares of Hindustan Petroleum Corp, down 3.5% as they traded ex-dividend.

Cipla's stock, up 1%, was the top gainer on the Nifty50 index. The company entered into an agreem…

Sensex, Nifty continue to trade lower; PSU Banks at day's low

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Domestic benchmark indices were lower in afternoon trade, dragged by losses in shares of public sector banks and financial services companies.

Shares of public sector companies slumped, weighed by the losses in the shares of State Bank of India and Punjab National Bank.

At 1:59 PM, the BSE Sensex was trading at 34,337, down 109 points, while the Nifty50 index was trading at 10,546, down 37 points.

The BSE Midcap Index slipped 0.49% and the BSE Smallcap Index was down 0.26%.

Shares of Punjab National Bank extended losses and fell 13% after the bank said the quantum of fraudulent transactions in the Nirav Modi scam case may increase by another $204.2mn. The Nifty PSU Bank fell 2.2% in the early session.

Shares of Mercator surged 4.5% on the back of DGH approval for field development plan (FDP).

Simbhaoli Sugar stock soared 5% after it clarified that the company is committed to clear all of its outstanding dues with OBC in due course of time, in the joint consultation of all the lenders.

Volati…

Nifty slips below 10,600 mark; PNB slumps over 8%

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Equity indices had opened higher, gaining strength from continued rebound in global equities, amid broad-based gains led by automobile, fast moving consumer goods and information technology companies. However, key indices erased opening gains due to the downtrend in PSU Bank, metal, media, realty and financial services.

At 10:59 AM, the BSE Sensex was trading at 34,410, down 36 points, while the Nifty50 index was trading at 10,573, down 10 points.

The BSE Midcap Index gained 0.15% and the BSE Smallcap Index rose 0.08%.

Shares of Punjab National Bank extended losses and fell 7% after the bank said the quantum of fraudulent transactions in the Nirav Modi scam case may increase by another $204.2mn. The Nifty PSU Bank fell 1.2% in the early session.

Shares of Ambuja Cements fell 4% and were the worst hit on Nifty50 after the company said it has temporarily shelved its plan to merge with ACC due to "some constraints."

Volatility index India VIX rose 1.53% to 13.9050.

GAIL (+2%), ONGC (…

Sensex slips over 100 points; PNB slumps over 7%

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Equity indices had opened higher, gaining strength from continued rebound in global equities, amid broad-based gains led by automobile, fast moving consumer goods and information technology companies. However, key indices erased opening gains due to the downtrend in PSU Bank, metal, media, realty and financial services.

At 10:23 AM, the BSE Sensex was trading at 34,339, down 106 points, while the Nifty50 index was trading at 10,567, down 15 points.

The BSE Midcap Index gained 0.15% and the BSE Smallcap Index rose 0.08%.

Shares of Punjab National Bank extended losses and fell 7% after the bank said the quantum of fraudulent transactions in the Nirav Modi scam case may increase by another $204.2mn. The Nifty PSU Bank fell 1.2% in the early session.

Shares of Ambuja Cements fell 4% and were the worst hit on Nifty50 after the company said it has temporarily shelved its plan to merge with ACC due to "some constraints."

Volatility index India VIX rose 1.53% to 13.9050.

GAIL (+2%), ONGC …

Sensex gains over 300 points; Tata Motors, Maruti top gainers

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Benchmark indices extended gains aided by positive cues from other Asian equity markets. All sectoral indices on the NSE, barring Nifty Pharma and Nifty IT index, gained reflecting positive sentiment among investors.

Shares of Tata Motors were up 2.8%, the top performer on the Nifty 50 index

At 2:12 PM, the BSE Sensex was trading at 34,473, up 331 points, while the Nifty50 index was trading at 10,587, up 96 points.

The gains were broad-based as the BSE Midcap Index gained 0.78% and the BSE Smallcap Index climbed 0.89%.

A2Z Infra Engineering gained 3% as the company has entered into one-time settlement with Standard Chartered Bank.

Strides Shasun gained 2% on BSE after the company announced that it will launch Ranitidine Tablets USP, 150 mg (OTC) in the US markets.

Pidilite Industries stock 1% after the board of directors announced share buyback offer of 50 lakh equity shares at Rs1,000 each amounting to Rs500 cr.

Volatility index India VIX slipped 3.90% to 13.6475.

Tata Motors (+3%), Axis Ba…

Nifty has come slightly off day's high

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Nifty has come slightly off day's high in the morning trades amid profit booking seen around the 10,450 levels, which is also the immediate resistance zone. Support is now upgraded to 10,350 levels.

The India Vix has declined by over 5%.

Nifty Metal index is the top gainer followed by Pharma and PSU bank index.

At 11:35 AM, the Nifty 50 index was at 10,435 points, up 52 points, while Sensex was at 33,961 points, up 142 points.

GMR Infra is tradeing at day's high

Shares of Seamec hit 52-wk high on vessel deal with Kreuz Subsea.

Shares of Jubilant Life dropped 9% on reports of promoters selling stake

Adani Transmission receives LOI for 200 ckt kms transmission Network in Rajasthan

Tata Steel (+3.65%), Auro Pharma (+2.91%), Vedanta (+2.88%), Yes Bank (+2.77%) and UPL (+2.48%) were the top gainers on Nifty50.

GAIL (-2.43%), TCS (-1.73%), Asian Paints (-0.90%), Infosys (-0.85%) and Eicher Motors (+0.82%) were the top losers in today’s trade.

A total of 9 stocks registered a fresh 52-week hig…

Nifty and Bank Nifty trade in tight range

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Nifty and Bank Nifty both continue to gyrate in a tight trading range even in the afternoon trades.

HDFC twins, ICICI Bank and Reliance Industries are the major laggards, while Sun Pharma, Infy and IndusInd Bank are bucking the negative trend. The India Vix is down by 4%.

At 1:30 AM, the Nifty 50 was at 10,366 points, down 31 points. BSE-Sensex was at 33,766 points, down 78 points.

In the broader market, the BSE Midcap and the BSE Smallcap indices are trading marginally in the red.

MTNL surged ahead of government press meet on PSU telecom companies.

SSWL commissions new plant in Chennai, stock gains 2%.

Auro Pharma (+3.53%), Sun Pharma (+3.05%), Adani Ports (+1.82%), Indiabulls Housing Fin (+1.71%) and HCL Tech (+1.27%) were the top gainers on Nifty50.

Dr Reddy (-2.35%), ONGC (-2.16%), GAIL (-1.79%), Ambuja Cement (-1.64%) and Infratel (-1.49%) were the top losers in today’s trade.

A total of 6 stocks registered a fresh 52-week high in trade today, while 53 stocks touched a new 52-week low o…

Market slips at open, recovers from day's low

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After opening with a gap down, markets have erased early losses and have recovered from day’s low.

The Nifty IT index is the only gainer among the sectoral indices, while the Nifty Auto and Realty index are the top losers. Support for Nifty remains around the 10,275-10,300 zone.

The India Vix has declined by 1%.

Following the opening bell, indices were dragged down by losses in the shares of public sector banks and energy companies. The Nifty PSU index slumped 1.3% today.

At 9:20 AM, the Nifty 50 was at 10,360 points, down 37.55 points or 0.4%. BSE-Sensex was at 33,745 points, down 100.75 points or 0.3%.

Shares of Gitanjali Gems fell 5% today on report that SEBI will revive probe in the company.

Shares of Bhushan Steel fell 3%, as the consortium of lenders had rejected a late bid by UK's Liberty House and asked Tata Steel to waive some conditions in its offer for the company.

Tech Mahindra (+1.29%), Sun Pharma, HCL Tech (+1.07%) and Wipro (+0.56%) were the top gainers on Nifty50.

Infrate…

Sensex, Nifty trade mildly higher

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Equity indices are now trading mildly higher after giving up gains in the last hour. HCL Tech, Tech Mahindra, TCS, Dr. Reddy's lead the gainers chart. Selling pressure is visible among all sectoral indices, except IT index.

At 11:16 AM, the BSE Sensex was trading at 33,776, up 73 points, while the broader Nifty50 was ruling at 10,375, up 15 points.

Metal, pharma and PSU banks are currently the top losers. In the broader market, the BSE Midcap and the BSE Smallcap indices rose 0.12% and 0.20% respectively.

Stocks of information technology companies rose today due to the positive outlook given by NASSCOM. The industry body said that export revenue in 2018-19 (Apr-Mar) will grow at 7-9%, driven by digital technologies.

Shares of Gitanjali Gems slumped for the sixth straight session and were locked in the 10% lower circuit of 27.40 rupees after reports said the company has intimated its employees about the company's closure.

Eros Intl surges, as RIL to acquire 5% stake in parent.

Bioco…

Benchmark indices open in the green, IT companies gain

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Equity indices made a positive start to the session, taking positive cues from Asian markets. The gains were led by IT companies, RIL, HDFC, ICICI.

At 9:44 AM, the BSE Sensex was trading at 33,758, up 54 points, while the broader Nifty50 was ruling at 10,369, up 9 points.

In the broader market, the BSE Midcap and the BSE Smallcap indices rose 0.12% and 0.20% respectively.

Eros Intl surges, as RIL to acquire 5% stake in parent.

Biocon slumps on USFDA observations for Malaysia unit.

Max India shares up 2.4%, company may buy more stake in Max Healthcare.

Fortis Health shares down 3%, lenders invoke pledge on promoter co. shares.

Dilip Buildcon's shares up 3%, company lowest bidder in Rs380cr order.

Atul Auto's shares up 3%, as HDFC MF buys 2.06% stake in company.

Tech Mahindra (+2.2%), HCL Tech (+1.7%), Dr Reddy (+1%), TCS and Eichers Motors (+0.9%) were the top gainers on Nifty50.

Hindalco (-3.3%), BPCL (-2.3%), Vedanta (-1.6%), Coal India (-1.5%) and Bajaj Finance (-1.5%) were the top l…

Markets recover in closing hour of trade; Nifty ends below 10,400 mark

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Markets gave away a sharp recovery in last one hour of trade after witnessing a sell-off during the first half of trade. All the major indices closed in red as Mid-cap & Small-cap index continued to underperform the benchmark index.

PSU Bank index saw a sharp sell-off losing ~2.5% in trade. Market breadth continued to end in the favour of declines with Advance-Decline ratio closing at 1:4x.

Nifty February futures saw marginal unwinding of short positions, while Bank Nifty February futures saw the marginal buildup of short positions.

Tracking the Nifty options, heavy call option writing was seen in 10400CE as open interest surged by ~23 lakh shares, while 10400PE saw an unwinding of short positions with a reduction of ~10 lakh shares in open positions.

India VIX index closed 1.7% higher ending at 16.65.

Nifty -74 points @ 10378 Bank Nifty -105 points @ 25058 Top 2 F&O Gainer FORTIS & ICIL Top 2 F&O Loser