Closing Bell
Markets end in green, Sensex up 52 points
Extending gains for the third session, the BSE benchmark Sensex on Thursday rose over 50 points tracking sustained buying by domestic institutional investors and positive global cues.
The 30-share BSE index Sensex closed higher by 52.79 points or 0.15 per cent at 36,374.08 and the 50-share NSE index Nifty ended up 14.90 points or 0.14 per cent at 10,905.20.
The Sensex hit an intraday high of 36,468.42 and a low of 36,170.80. Similarly, the Nifty touched an intraday high of 10,930.65 and a low of 10,844.65. The market breadth was negative as 1,049 shares advanced, against a decline of 1,521 shares, while 174 shares were unchanged.
At close, the biggest gainers in the Sensex pack were GAIL, BPCL Infratel, Axis Bank and HCL Tech, rising up to 2.23 per cent.
While, Sun Pharmaceuticals, Yes Bank, Zee, Eicher Motors and SBI were the top losers, shedding up to 6.61 per cent.
SBI raises $1.25 billion via bonds
Country’s largest lender State Bank of India (SBI) Thursday said it has raised USD 1.25 billion (about Rs 8,800 crore) through bonds from overseas market to fund its business expansion.
Asian equity markets close flat
Asian equity benchmark is little changed for a second day as markets across the region moved less than 0.8 per cent. Japans Topix rose 0.4 percent, while gauges of Shanghai and Hong Kong shares ended up down 0.4 per cent and 0.5 per cent, respectively.
Edelweiss Financial Services subsidiary closes $1.3 billion fund
Edelweiss Alternative Asset Advisors Ltd (EAAA), a subsidiary of Edelweiss Financial Services, has closed its India dedicated Alternative Investment Strategy Fund ( EISAF II), by raising ₹9,200 crores ($1.3 billion). Read the full story here
Car market in India continues to move in slow lane: report
Car registrations were down 11.7%, two-wheelers fell 9.8% and three-wheelers slid 4.3%. Read the story further here
MIDHANI signs MoU with TUBACEX
Mishra Dhatu Nigam Limited (MIDHANI) and TUBACEX of Spain on Thursday signed a memorandum of understanding to pursue a collaborative business model for Power Generation and Oil & Gas applications .
This agreement would allow the joint development of advanced materials for the energy sector, contemplating technological alliances and the promotion of local manufacturing capacities.
Nifty Call: Go short on a strong fall below 10,900
Following a strong rally on Tuesday, the Nifty January futures contract is testing a key resistance around 10,900. Also, the contract faces a significant resistance ahead at 11,000. Read the full technicals here
1.20
IDFC First Bank fixes RD for Infra Bonds- Tranche II interest payment
IDFC First Bank Limited has informed that it has fixed record date as February 1 for the purpose of interest payment to the holders of Infrastructure Bonds- Tranche II.
BHEL to set up EV chargers along Delhi-Chandigarh highway
Bharat Heavy Electricals Limited (BHEL) will set up a network of solar-based electric vehicle chargers (SEVC) on the Delhi-Chandigarh highway. The project is covered under the FAME scheme [Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India] of the Department of Heavy Industry.
The establishment of EV chargers at regular intervals over the entire 250 km stretch between Delhi and Chandigarh would allay range-anxiety among the Electric Vehicle users and bolster their confidence for inter-city travel.
BHEL's scope of work in the project includes design, engineering, manufacturing, supply and installation of the EV charging stations along with a Central Monitoring System. Each SEVC charging station will be equipped with a rooftop solar power plant to supply green energy to fast and slow chargers planned to be installed at the location.
TCS recognised as leader in Cloud Infrastructure Brokerage and Orchestration Services
Tata Consultancy Services , a leading global lT services, consulting and business solutions organization, has been recognized as a leader in the NelsonHall NEAT for Cloud lnfrastructure Brokerage and Orchestration Services.
ln an assessment of 12 global service providers, TCS has been positioned highly for both its ability to deliver immediate benefit and its ability to meet future client requirements. Cited as strengths were the company's global delivery capabilities and its broad mix of geographic and industry customers.
The report also highlighted TCS' intellectual property - Cloud Exponence for cloud brokerage and orchestration solutions and its Enterprise lntelligent Automation unit that drives automation.
Trent raises Rs 100 cr via commercial paper
Trent Ltd informed on Thursday that it has issued and allotted commercial paper worth Rs 100 crore. It further stated that the proceeds will be used towards working capital requirements.
CARE Ratings has assigned a credit rating of “CARE A1+” to the said instrument.
Top BSE gainers and losers at noon
Lenders considering resolution plan for Jet Airways: SBI
State Bank of India on Thursday said lenders are considering a resolution plan for Jet Airways to ensure long-term viability of the debt-laden company.
The SBI statement comes a day after the crisis-hit airline said discussions were “progressing well” with stakeholders on a comprehensive resolution plan that also contemplates equity infusion and consequent changes in its board of directors. Read the full story here
Zydus Cadila gets USFDA final nod for Acetazolamide ER capsules
Zydus Cadila informed on Thursday that it has received the final approval from the USFDA to market Acetazolamide ER Capsules. It will be manufactured at the group’s formulations manufacturing facility at Moraiya, Ahmedabad. Read the full story here
L&T Infotech buys Ruletronics for $7.5 million
Larsen & Toubro Infotech informed on Thursday that it has signed a definitive agreement on January 16, 2019 to acquire Ruletronics Limited (UK), Ruletronics Systems Inc. (US) and Ruletronics Systems Private Limited (India) for USD 7.5 million.
The acquisition is subject to customary closing conditions which are expected to get completed within 8 weeks.
Hindustan Copper to ramp up output to 20 million tonnes in five years
The country’s only copper ore producer, Hindustan Copper Ltd (HCL), is adopting a multi-pronged strategy to achieve its ambitious production target of 20 million tonnes per annum (mtpa) by 2024. Click here to read full story
Reprieve for HUL as Delhi High Court stays ₹462-cr demand by anti-profiteering body
The Delhi High Court has stayed the demand of ₹462 crore, made on Hindustan Unilever (HUL) by the National Anti-profiteering Authority (NAA). Read the full story here
Nifty50 gainers and losers
Mutual fund investors from top cities keep faith in equity
Notwithstanding the upheaval in the stock markets, investors from top cities such as Mumbai, New Delhi, Bengaluru and Ahmedabad have kept their faith in the equity market by pumping in money continuously through mutual funds in the last three months. Read the insight here
Rupee opens 9 paise higher at 71.15 against USD
The Rupee appreciated by 9 paise to 71.15 against the United States (US) dollar in opening trade on Thursday, driven by positive opening in domestic equities and weakening green-back in overseas markets. Click here to read forex story
Manali Petrochemicals restarts operations
Manali Petrochemicals has informed NSE that it has restarted Plant 1 operations on January 16, 2019 pursuant to Central Pollution Control Board revoking its earlier direction issued under Section 5 of the Environment Protection Act, 1985.
Dhampur Sugar fixes record date for dividend
Dhampur Sugar Mills has informed BSE that it has fixed February 11, 2019 as the record date for the purpose of payment of dividend, if approved and declared.
Raymond realty project receives MAHA RERA registration
Raymond 's arm Colorplus Realty has obtained registration certificate for Raymond Realty Phase I from Maharashtra Real Estate Regulatory Authority (MAHA RERA).
What to Watch: Cyient - Buyback, quarterly results eyed
The board of Cyient will meet on Thursday to consider a buyback as well as its quarterly performance for September-December 2018. Click here to read more
What to Watch: Jet Airways in the limelight
The stock of Jet Airways has been in the limelight this week. Click here to read more.. .
Hindustan Wires to delist shares
Hindustan Wires has informed the exchanges that its Board of Directors at its meeting on January 16 has granted approval to the proposed voluntary delisting of equity shares of the company from the BSE and the CSE. Click here to read the company announcement
MindTree declares interim dividend
MindTree has informed the BSE that the company’s Board of Directors at its meeting held on January 16, has declared an interim dividend of 30 per cent (₹3 per equity share of face value ₹10 each). The interim dividend will be paid to the registered shareholders on or before January 31, 2019.
Broker's call: Avenue Supermarts (Buy)
CMP: ₹1,393.9
Target: ₹1,740
Avenue Supermarts Ltd is an India-based company, which owns and operates DMart stores. Read the full report on buy call here
Broker's call: J&K Bank (Buy)
CMP: ₹39.25
Target: ₹64
J&K Bank management aims to expand its footprint across the State through branch expansion and growing the State’s loan book faster than the overall loan book. Read the recommendations here
Sensex gains over 100 points, Nifty trading above 10,900
The 30-scrip Sensex on Thursday opened on a positive note. It is trading at 36,451.02 points, up by 129.73 points or 0.36 per cent.
On the other hand, the broader 50-scrip Nifty at the National Stock Exchange is trading at 10,923.15 points, up 32.95 points or 0.30 per cent.
Day Trading Guide for January 17
Given below are supports and resistances for Nifty 50 futures and seven key stocks that can help in your intra-day trading:
₹2120 • HDFC Bank
S1 | S2 | R1 | R2 | COMMENT |
2105 | 2090 | 2130 | 2145 | Fresh long positions are recommended with a fixed stop-loss only if the stock climbs above ₹2,130 levels |
₹736 • Infosys
S1 | S2 | R1 | R2 | COMMENT |
728 | 720 | 742 | 750 | Outlook is bullish for the stock. Make use of intra-day dips to buy the stock while maintaining a fixed stop-loss at ₹728 |
₹294 • ITC
S1 | S2 | R1 | R2 | COMMENT |
291 | 288 | 297 | 300 | Consider initiating fresh short positions with a tight stop-loss only if the stock of ITC declines below ₹291 levels |
₹146 • ONGC
S1 | S2 | R1 | R2 | COMMENT |
143 | 140 | 149 | 152 | Utilise intra-day dips to buy the stock of ONGC while retaining a stiff stop-loss at ₹143 levels |
₹1134 • Reliance Ind.
S1 | S2 | R1 | R2 | COMMENT |
1120 | 1105 | 1145 | 1160 | Initiate fresh long positions with a fixed stop-loss if the stock of RIL rebounds up from ₹1,120 levels |
₹302 • SBI
S1 | S2 | R1 | R2 | COMMENT |
297 | 292 | 306 | 312 | Fresh short positions can be initiated with a stiff stop-loss only if the stock of SBI falls below ₹297 levels |
₹1870 • TCS
S1 | S2 | R1 | R2 | COMMENT |
1850 | 1830 | 1890 | 1910 | Initiate fresh long positions with a stiff stop-loss only if the stock of TCS rallies above ₹1,890 levels |
10921 • Nifty 50 Futures
S1 | S2 | R1 | R2 | COMMENT |
10870 | 10820 | 10970 | 11020 | Fresh long positions can be initiated with a tight stop-loss if the contract reverses higher from 10,870 levels |
S1, S2 : Support 1 & 2; R1, R2: Resistance 1 & 2.
US stocks hit one-month high on bank results
World stock markets rose with Wall Street's major indexes hitting one-month highs after strong earnings from Bank of America Corp and Goldman Sachs. Read the full story here
Asia shares falter on China unease
Asian share markets faltered on Thursday as unease over China's economic outlook eroded early gains, though an anti-climactic end to the latest chapter in the Brexit saga did offer sterling a moment's peace. MSCI's broadest index of Asia-Pacific shares outside Japan edged down 0.1 per cent in thin trade, while E-Mini futures for the S&P 500 slipped 0.3 per cent. Read the full report here
Today's Pick
Hindustan Oil Exploration Company (₹125.8): Buy
Investors with a short-term perspective can consider buying the stock of Hindustan Oil Exploration Company at current levels. Read the Technical Analysis here