Closing Bell

Market ended sharply lower after witnessing heavy selling pressure from domestic institutions and investors. Selling was seen mainly due to concerns of the mutual fund industry facing fresh trouble following its exposure to Zee Group shares. This comes even as MF players are already facing problems from their liability to the debt ridden IL&FS Group.

The BSE Sensex ended at 35,656.70, down by 368.84 points from its previous close.

The NSE Nifty, too, declined by 119 points at 10,661.55.

All sectoral indices have met with losses with the exception to IT index. Healthcare, Automobile, Metal, Financial Services and Banks declined between 0.65% and 2 per cent. However, the BSE IT index ended higher by 0.42% at 14,847.07. TCS gained 1.70%, Eclerx was up 1.15%, Persistent gained 1.12% and Tech Mahindra rose 1.1% which gave the much needed support for the IT index.

BSE SECTORAL INDICES

Nifty Top Gainers and Top Losers

TOP GAINERS & LOSERS

Automobile stock price on BSE

Aurobindo Pharma shares fell over 4 per cent at Rs 753.35 on the NSE today after the company has began recalling 1,62,301 bottles of Amlodipine and Valsartan tablets, 3,12,095 bottles of Valsartan and Hydrochlorothiazide tablets and 20,604 bottles of Valsartan tablets in the US after the USFDA found certain deviations from Current Good Manufacturing Practice (CGMP) regulations.

Mindtree, Coffee Day shares fall as I-T restricts transfer of shares

Mindtree shares were down over 2% at Rs 867.15 on the NSE today after the income tax department restricted Mindtree from transferring the shares of V G Siddhartha in Mindtree and his company Coffee Day Enterprises for a period of six months stating that the department can raise a tax demand. Nearly 74.9 lakh equity shares of both Siddhartha (52,70,000) and Coffee Day Enterprise (22,20,000) amounting to 4.5% have been restricted from the transfer or change post a prohibitory order from the Assistant Commissioner of Income Tax, Central Circle, Bengaluru.

Coffee Day Enterprises has said it would take required action in the next few days to get a portion of IT firm Mindtree shares owned by the company and its promoter V G Siddhartha released by the Income Tax Department. The restriction for transfer will be for six months from the date of the order, January 25, 2019.

Coffee Day Enterprises shares too went down nearly 4 per cent to Rs 270.30 on the NSE.

Large-cap stocks

Rupee erases early gains

The rupee which appreciated by 19 paise to 70.98 against the US dollar in opening trade on Monday gave up gains later. At 1.55 pm, the domesic currency was being quoted at 71.17 versus the dollar. READ MORE

Taking note Of middle class incomes and expenses

Nifty call: Sell in rallies with stop-loss at 10,760

Taking cues from the negative Asian markets, the Sensex and the Nifty started the session on a flat note. But, subsequently the key benchmark indices began to witness selling pressure and continued to decline. Read the full technical call here

Natco Pharma slips marginally

Natco Pharma is foraying into agrichemical space and initiated work on it greenfield manufacturing facilities for producing niche products in that area in Nellore District of Andhra Pradesh. The facility will manufacture both agrichemical technical and formulation products. The company expects the facilities to be commissioned by the end of 2019 with a total capital expenditure of Rs 100 crore.

Natco Pharma stock was down by Rs 3.60 or 0.55% at Rs 671.05 on the NSE today.

BSE Heavyweighted stocks

The BSE Sensex Monday lost over 300 points in the mid-session trade following intense selling pressure in banking, healthcare, auto and metal stocks.

The 30-share index declined by 312 points, or 0.87 per cent, to 35,712.18, after rising to 36,124.26 in early trade.

In similar movement, the NSE Nifty lost 101 points, or 0.94 per cent, to 10,679.20.

Maruti Suzuki India on Friday reported 17.21 per cent fall in its net profit for the third quarter ended December 31, 2018.

Major losers that led the crash were ICICI Bank, YES Bank, Bajaj Finance, Bajaj Auto, Maruti, Axiz Bank, and HeroMotoCorp, falling up to 2.88 per cent.

JSW Steel hits near 13-month low; chart suggests more downside

Shares of JSW Steel Ltd fell as much as 3.46 per cent to ₹265.15, 52-week low levels. The stock has broken below a support at ₹ 275.6, the 23.6 per cent Fibonacci projection level of the downtrend from Sept 21, 2018 high to Dec 11, 2018 low (wave A). READ MORE

File Photo

Essel Propack says promoters not pledged any shares; stock jumps over 12%

  The stock of Essel Propack surged over 12.50% today after the company clarified that neither the promoters nor the promoter groups have pledged any shares.

Market cracked today on concerns of  the mutual fund industry facing fresh trouble following its exposure to Zee Group shares. MF industry also has exposure of about ₹ 7,275 crore of the company’s debt papers. This comes even as MF players are already facing heat from their exposure to the debt laden IL&FS Group.

The BSE Sensex lost 324 points and was trading at 35,701 points.

The NSE Nifty, too, trading in the negative terrain, was down by 103 points at 10,677.15.

Indices were dragged lower majorly by Automobile, Financial Services, Healthcare, FMCG and Bank stocks.

HEG LTD. - Announcement -  Raju Rustogi, Chief Financial Office Demise

HEG announced in its release to the BSE: "With profound grief, we have to inform you about the untimely and sad demise of Shri Raju Rustogi, Chief Financial Officer & Chief Operating Officer of HEG Ltd yesterday,".

The stock of HEG Ltd fell 12.50% at RS 2,402.80 today.

Large-Cap stocks on NSE: How they moved in 1-week

NSE HEATMAP (1 WEEK)

BSE AUTO STOCKS

BSE Healthcare stocks

BSE SECTORAL INDICES

USD/INR pair likely to trade in 70.80-71.05 range

The rupee is likely to recoup losses aganst the dollar due to broad USD sell-off. The USD/INR Pair may trade 70.80-71.05 range intraday as oil refiners and corporates bids ís likely to stall rupee’s upward move.

Rupee rises against dollar in opening trade

The rupee appreciated by 19 paise to 70.98 against the US dollar in opening trade on Monday, driven by weakening of the greenback in overseas markets and easing crude prices.

Kopran: USFDA nod may act as boost

The active pharmaceutical ingredients manufacturing unit at Madad of Kopran Research Laboratories , a subsidiary of Kopran, was inspected by the US FDA between January 21 and 25. The inspection was completed without issuance of any observation under Form 483, Kopran said.

BoI, Canara Bank, CUB, results on Monday

Over 40 companies including Bank of India, Balaji Amines, Canara Bank, Century Textiles, Ceat, City Union Bank,  will declare results

Businessman and businesswoman working in office

Subhash Chandra’s damage-control efforts help Zee recover from 26% plunge

Indian media tycoon Subhash Chandra rushed over the weekend to stem a crisis that wiped $1.6 billion off his flagship Zee Entertainment Enterprises Ltd’s market value on Friday and threatened to derail his plans to sell a stake in the company. His efforts paid off.

Shares of India’s biggest television network and group company Dish TV India Ltd surged more than 10 per cent, after slumping more than 25 per cent in the final hours of trading on Friday.

Market cracked today on concerns of  the mutual fund industry facing fresh trouble following its exposure to Zee Group shares. MF industry also has exposure of about ₹ 7,275 crore of the company’s debt papers. This comes even as MF players are already facing heat from their exposure to the debt laden IL&FS Group.

The BSE Sensex lost 195 points and was trading at 35,829.63 points.

The NSE Nifty, too, trading in the negative terrain, was down by 66.80 points at 10,713.75.

Indices were dragged lower majorly by Automobile, Financial Services and Bank stocks.

Nifty Sectoral Indices

SEBI may overhaul margin management system for equity futures & options

Market regulator Securities SEBI is likely to review the margin or risk management system currently obtaining in the equity derivative market, and may even go for a complete overhaul.

Oil prices fall on rising US rig count, economic slowdown

Oil prices fell on Monday after U.S. energy firms added rigs for the first time this year in a sign that crude production there will rise further. U.S. spot crude oil futures were at $53.37 per barrel, down 32 cents, or 0.6 percent, from their last settlement.

After IL&FS crisis, MF investments could be singed by exposure to Zee

The mutual fund (MF) industry is bracing for fresh trouble with its exposure to Zee Group shares. It also has exposure of about ₹7,275 crore of the company’s debt papers. This comes even as MF players are facing heat from their exposure to the debt laden IL&FS Group.

Heavyweighted stocks

Capital Goods stocks made smart gains today with the BSE Capital Goods index gaining 143.67 points or 0.85% at 17,318. Top gainers were L&T , up by 2.75% at Rs 1,320.50, Kalpataru Power was up 1.06% at Rs 371.75 and LMW gained 0.30% at Rs 5,422.20.

Capital Goods stocks

The Sensex opened marginally higher today. The BSE Sensex was trading higher by 65.59 points at 36,091.13. On the NSE, the Nifty was up 5.35 points 10,785.90.

Company news: Hindustan Unilever

The Competition Commission of India has accorded its approval to the amalgamation of GlaxoSmithKline Consumer Healthcare with  Hindustan Unilever . In December 2018, both the companies had announced the merger deal. As part of this deal, health drinks including Boost, Horlicks and Maltova — the mainstays of GSK Consumer — will move to HUL.

HUL-RESULTS

Company news: Foseco India

The board of directors of  Foseco India  on Friday decided to delist the company’s equity shares from the BSE. However, the shares will continue to remain listed on the National Stock Exchange of India.

Global stocks rise after US government reopens for now

Asian stocks advanced on Monday as Wall Street rallied after a deal was announced to reopen the U.S. government following a prolonged shutdown that had shaken investor sentiment.

Sensex opens higher in pre-open session

Sensex opened higher in the pre-open trade. The Sensex gained 74 points at 36,099.62.

Index outlook: Budget can provide clear direction

The Sensex and the Nifty made a U-turn and formed bearish patterns. Stay cautious... Read the technical analysis here

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