Jan 24 | 4 pm

Closing bell

The Sensex and the Nifty ended mildly firmer at the close of see-saw trading session on Thursday. The Sensex finished at 36,195, up 86 points, or 0.24 per cent higher. The Nifty was trading at 10,849, up 18 points or 0.17 per cent higher.

The top gainers on the Sensex were YES Bank, Reliance, TCS, SBI and Infosys, while the laggards were Tata Motors, Power Grid, Sun PHarma, Coal India and Bharti AIrtel.

Jan 24 | 3:55 pm

European shares open firm, take cues from Asian equities

Stocks in Europe rose alongside Asian equities as investors awaited fresh developments on China trade talks or at least more clues on the strength of global growth. The dollar climbed with Treasuries and European bonds.

Click here to read the European markets report in full

Jan 24 | 3:05 pm

Oil prices dip on global growth concerns

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Oil prices declined on Thursday on lingering concerns that slowing global economic growth may limit fuel demand and after a surprise build in US crude inventories. Read the oil markets report in full here.

Jan 24 | 2:45 pm

Dollar hampered by global growth, trade war worries

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The dollar was hamstrung versus its rivals on Thursday, restrained by concerns over global growth, the US government shut-down and a yet-unresolved US-Sino trade dispute. Read the Asian dollar report in full here.

Jan 24 | 2:20 pm

Sensex, Nifty stuck in a band

The Sensex and Nifty were trading flat in a narrow band on Thursday afternoon. The Sensex was quoting at 36,142, up 33 points or 0.09 per cent, while the Nifty was at 10,834, up 2 points.

The Sensex closed Wednesday's session at 36,108, dropping 336 points or 0.92 per cent, while the Nifty finished at 10,831, down 91 points or 0.84 per cent lower.

The market was trading cautiously, mirroring sentiment in global markets. Concerns on global growth, the prolonged shutdown in the US and the US-China trade conflict kept market players on the sidelines.

Reports also said the market had its eye on next week's interim budget presentation.

Jan 24 | 2:09 pm

Asian shares edge up; ECB decision awaited

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Asian shares inched up in subdued trade on Thursday after Wall Street ended higher, but political uncertainty in the US and worries about weakening global economic growth kept many investors on the sidelines. Click here to read the Asian stock markets report in full.

Jan 24 | 1:45 pm

Hyundai Motor sees first quarterly loss in eight years

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South Korea’s automaker Hyundai Motor reported its first quarterly loss in eight years on Thursday, with currency swings sending it $ 180 million into the red in October-December despite improved sales. Click here to read the full report on Hyundai Motor results.

Jan 24 | 1:30 pm

Maruti Suzuki launches new WagonR, price starts Rs 4.19 lak

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Maruti Suzuki India (MSIL) on Wednesday launched the third generation WagonR priced between ₹4.19 lakh and ₹5.69 lakh (ex-showroom, New Delhi). Click here to read the full report on Maruti launch of new WagonR

Jan 24 | 1:15 pm

Piyush Goyal made interim Finance Minister

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Railway Minister Piyush Goyal has been given charge of the Finance and Corporate Affairs Ministry, the portfolio held by Arun Jaitley, who is undergoing treatment in the US. Read the report on Piyush Goyal appointed interim FM in full here.

Jan 24 | 1 pm

Sensex, Nifty loose footing

The Sensex and Nifty once again lost their footing to trip into the red in choppy trading on Thursday afternoon. The Sensex was quoting at 36,077, down 31 points or 0.09 per cent lower, while the Nifty was at 10,812, down 19 points or 0.18 per cent lower.

The top gainers on the broad-based Nifty were ITC, Reliance, TCS, Asian Paints and Titan, while the laggards were Infratel, Tata Motors, Sun Pharma, UPL and YES Bank.

According to reports the markets were weighed down by concerns about global growth and ahead of key political events, though gains in market heavyweight Reliance Industries Ltd put the indexes in the green earlier in the day.

Investors in Asian peers tightened their purse strings as uncertainty over the partial US government shutdown, slowing global economic growth and the yet-unresolved trade standoff between the US and China kept the sentiment muted.

“Before the national election, markets are going to remain range-bound ... political risk is something foreign institutional investors will especially be wary about,” said Sumit Pokharna, vice-president, Kotak Securities, in a Reuters report.

The interim budget to be presented next week is expected to be full of measures aimed at appealing angry farmers and small businesses, in an attempt to increase job creation.

Jan 24 | 12: 55 pm

Nifty call: Go short on rallies at 10,860 with stop-loss at 10,885

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The Nifty 50 futures contract, which witnessed a sharp sell-off in late trade on Wednesday, continues to trade under pressure on Thursday. The resistance at 10,875 is holding well. Click here to read the Nifty call report in full.

Jan 24 | 12:35 pm

IndiGo profit nosedives 75% to ₹191 crore in Dec quarter

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IndiGo has reported a 75 per cent fall in profit after tax at ₹190.9 crore for the quarter ended December 2018 as compared to a profit of ₹762 crore in the same quarter the previous year. Read the full report on IndiGo's results here.

Jan 24 | 12:23 pm

Edelweiss Financial Services Q3 net up 18%

Edelweiss Financial Services on Thursday reported an 18.16 per cent increase in consolidated net profit at Rs 258.35 crore for the third quarter ended December 2018. Read the full report on Edelweiss Financial Services results here.

Jan 24 | 12.02 pm

Gold firm as growth concerns, US govt shutdown drag dollar

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Gold held steady on Thursday, supported by a softer dollar due to concerns the prolonged US government shutdown will limit economic growth even as concerns of slowing global growth grew. Click here to read the gold market report in full.

Jan 24 | 11:45 am

RIL open offer for acquiring additional 26% in Hathway Cable and Datacom

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Reliance Industries and its group companies have announced an open offer to acquire an additional 26 per cent stake in Hathway Cable and Datacom Ltd. Read the full report on RIL open offer for acquiring additional stake in Hathway Cable, Datacom

Jan 24 | 11:40 am

Reliance Ind breaks resistance at Rs 1,245, may test Rs 1,299

RELIANCE

 

Reliance Industries Ltd's stock gained as much as 2.06 per cent and broke above a resistance at Rs 1,245.43. Resistance at Rs 1,245.43 is identified as the 50 per cent Fibonacci projection level of the uptrend from February 6, 2018 low to Aug. 29, 2018 high. Click here to read the full report on RIL share price movement .

Jan 24 | 11:30 am

US stocks end mildly positive in choppy trade  

USA-STOCKS

All 11 major S&P sectors, Dow components drop.

The MSCI global stock index ended Wednesday's choppy trading session with a small gain as worries over US politics, global economic growth and trade tensions were countered by a boost from quarterly earnings reports. However, the US dollar and oil prices declined. Read the US markets report in full here.

Jan 24 | 11 am

Asian shares subdued

GLOBAL-MARKETS

Asian shares were on the defensive on Friday. File Photo

 

Asian shares were subdued on Thursday as political uncertainty in the US and worries about weakening global economic growth left investors wary of riskier assets. Click here to read the Asian stock markets report in full.

Jan 24 | 10:45 am

M&M hits 13-month low; chart suggests more downside

MARAZZO

Mahindra Marazzo was launched in September this year. File Photo

Shares of Mahindra and Mahindra Ltd fell as much as 1.41 per cent to Rs 686.05, its lowest since December 7, 2017. The stock broke below a support at Rs 701.88, the 76.4 per cent Fibonacci retracement level on the uptrend from September 27, 2017 low to Aug 29, 2018 high (wave (3)). Click here to read the full report on M&M share price movement .

Jan 24 | 10:30 am

Oil prices fall on slowing global growth

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Oil prices declined on Thursday amid lingering concerns over slowing global economic growth that may limit fuel demand and after a surprise build in U.S. crude inventories. Read the oil market report in full here.

Jan 24 | 10:25 am

Sensex, Nifty back in the green

The Sensex was back in the green in the morning session on Thursday, up 29 points or 0.08 per cent higher at 36,137 in choppy trade. The NSE also moved up to 10,837, up 5.80 points up 0.05 per cent higher .

The top gainers on the Sensex were Reliance, Power Grid, ITC, Asian Paints and SBI, while the losers were Tata Motors, Infosys, Tata Steel, M&M and Coal India.

PTI adds: The benchmark Sensex rose marginally in early trade on Thursday, reversing its two-session losing streak on buying in select bluechips by domestic investors amid positive Asian cues. Investor sentiment, however, was cautious amid global headwinds, turning key indices choppy. 

The 30-share index hit a high of 36,178 at the outset. It also slipped below the 36,000-mark to touch a low of 35,996.68 in early trade. The gauge had lost 470.49 points in the previous two sessions.

After many days, Nifty saw a strong reaction, as the index formed a strong bearish candle, which indicates the dominance of sellers, said an Emkay Global Financial Services report. 

“With this fall, the index has breached its prior five-day low. After several failed attempts to breach the 11,000 level and strong reaction, there is a mark of strong resistance. Still, the index is in an ascending triangle and the breakout of it will dictate further trend,” it added. 

According to analysts, investors are taking a cautious approach given their focus on global headwinds and upcoming general election. “While foreign institutional investors (FIIs) are sellers in the market, expectations of a slow pace in the US Fed rate hike and possibility of rate cut in India will ease the liquidity crunch in the market,” they added.

Domestic institutional investors (DIIs) made purchases worth Rs 583.77 crore, while FIIs sold shares worth a net of Rs 775.82 crore on Wednesday, as per provisional data.

Elsewhere in Asia, Hong Kong’s Hang Seng was up 0.22 per cent, the Shanghai Composite Index rose 0.61 per cent, Taiwan’s index was up 0.16 per cent in their early deals. Singapore’s Straits Times rose 0.35 per cent and Korea’s Kospi rose 0.42 per cent.

The US Dow Jones Industrial Average ended 0.70 per cent higher on Wednesday following a batch of strong earnings reports.

Jan 24 | 10.10 am

Company news: DCM Shriram

DCM Shriram  has commissioned additional cane crushing capacity of 5,000 tonnes/day from January 22. This new line will produce refined grade sugar, it said in a statement to the stock exchanges. The total crushing capacity at DSCL Sugar, Hariawan, after the expansion stands at 13,000 tonnes crushed per day. Shares of DCM Shriram closed at ₹333.55 on the NSE on Wednesday, down 0.88 per cent, over the previous day’s close.

The share was trading at Rs 334.60, up Rs 1.05 () on the NSE on Thursday morning.

Jan 24 | 10:05 am

Company news: HG Infra Engineering

HG Infra Engineering  has been declared L-1 for a new EPC project under NHAI for construction of an eight-lane carriageway starting at Haryana-Rajasthan border and ending at the Junction with SH44 section of the Delhi-Vadodara Green Field Alignment. The order is on engineering, procurement and construction (EPC) mode under the Bharatmala Pariyojana in Rajasthan. Shares of HG Infra closed 7.23 per cent higher at ₹201 on the NSE on Wednesday.

The share was trading at Rs 203.45, up Rs 2.45 (+) on the NSE on Thursday morning.

Jan 24 | 10.00 am

Will Apollo Micro rise on Bharat Dynamics order?

Apollo Micro Systems has bagged a supply order from Bharat Dynamics, a Defence PSU, worth ₹12.999 crore. However, it did not reveal details of the nature of the order or execution time. Last week, it had entered into an agreement with P2M Aviation Sagl, a Switzerland-based firm, to market and promote speed canard aircraft. Subsequently, it plans to enter into a definitive agreement under which P2M will transfer technology enabling the company to manufacture aircraft.

The share was trading at Rs 123.10, up Rs 1.35 (+1.11%) on the BSE on Thursday.

Jan 24 | 9:55 am

Indag Rubber to form JV with Singapore firm

Indag Rubber has agreed to enter into a joint venture with Sun Mobility Pte Ltd, Singapore, and Alberieth EV Services (P) Ltd. The company will have 90 per cent economic stake in the JV with an investment of ₹13.5 crore, while Sun Mobility will invest ₹1.5 crore. Indag and Sun Mobility will not transfer their stakes to any other party for three years from the closing date. The JV is to leverage the capabilities and synergies of each other for electric mobility infrastructure services. The share was trading at Rs 113.90, up Rs 1.60 (+1.42%) on the BSE on Thursday.

Jan 24 | 9:50 am

Broker's call: L&T Finance Holdings (Accumulate)

Prabhudas Lilladher

L&T Finance Holdings  (Accumulate)

CMP: ₹136.8

Target: ₹172

L&T Finance Holdings earnings surprised positively on back of benefit from movement to IND-AS accounting on P&L especially on fees, recognition of losses on sell down assets and lower provisioning. NII grew 21 per cent y-o-y and PAT at ₹580 crore recording stupendous 81 per cent y-o-y growth as NIM+fees grew healthy despite run-down in wholesale book, provisions coming lower y-o-y (down 9 per cent), benefits from sell downs and liquidity sufficiency on balance sheet thereby aiding voluminous growth at 23 per cent y-o-y (lending AUM ₹93,700 crore. To read the Broker's Call on L&T Finance Holdings in full click here,

Jan 24 | 9:45 am

Rupee rises 14 paise against dollar in early trade

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Narrow vision The RBI seems to have a disconnect with ground realities istock

The rupee strengthened 14 paise to 71.19 against the dollar at the interbank forex market on Thursday on increased selling of the American currency by exporters and banks. Read the rupee report in full here.

Jan 24 | 9:30 am

Sensex, Nifty slip into red

The BSE Sensex slipped into the red in early session on Thursday. It was trading mildly lower at 36,081, down 30 points or 0.08 per cent lower on the previous close. The Nifty also traded mildly lower at 10,826, down 5 points or 0.10 per cent lower on its previous close.

The Sensex closed Wednesday's session at 36,108, dropping 336 points or 0.92 per cent, while the Nifty finished at 10,831, down 91 points or 0.84 per cent lower.

Jan 24 9.25 am

 

Broker's call: Kotak Mahindra Bank (Buy)

Reliance Securities

Kotak Mahindra Bank (Buy)

CMP: ₹1,276.2

Target: ₹1,.390

Kotak Mahindra Bank (KMB) has reported a healthy set of numbers in 3QFY19 on the back of a strong 23 per cent y-o-y growth in NII, 8 bps q-o-q improvement in GNPLs to 2.07 per cent, high growth in SA deposits at 27 per cent y-o-y and strong core fee income growth of 25 per cent y-o-y despite moderation in distribution business. Rise in operating expenses in 3QFY19 is attributable to higher advertising cost, offset by reversal in provisioning for investment depreciation, which led to a strong 23 per cent y-o-y growth in net profit. Advances growth at 24 per cent y-o-y was driven by corporate loans where the bank gained further market share. Corporate book is fairly spread across sectors.

The bank’s above industry average valuations can be attributed to its strong lending franchise and capital position; rising CASA share though at a higher cost; healthy growth in non-fund based income, its impeccable asset quality performance across cycles, improving cover for GNPLs, and high return ratios. Clarity on dilution in promoter holding is awaited and could be an overhang on the stock. At CMP, the stock trades at 1-year forward multiple of 5.2x.

Jan 24 9.15 am

 

Sensex opens flat at 36,115 

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Jan 24 9.05 am

Day Trading Guide for January 24, 2019

DTG
 

 

Jan 24 9.00 am

 

Today's Pick

ZEN Technologies (₹85): Buy

Investors with a short-term perspective can consider buying the stock of ZEN Technologies at current levels. The stock has been in a medium-term uptrend since taking support at around ₹55 in October 2018. Moreover, the short-term trend is also up.  Read more

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