Markets Live: Sensex ends down 145 points at 35,352

Sensex, Nifty close in the red

After spending most of the day in the green, the Sensex and the Nifty closed the session in negative territory. The benchmark indices dropped sharply in late session.

The Sensex ended at 35,352, down 145 points or 0.41 per cent lower, while the Nifty was down 36 points or 0.34 per cent at 10,604.

The top gainers on the Sensex were VEDL, L&T, M&M, ONGC and ICICI Bank, while the losers were TCS, IndusInd Bank, NTPC, Infosys, and HeroMotoCorp.

According to reports, the BSE Sensex was dragged down by IT stocks amid strong foreign fund outflows.

Lacklustre cues from other Asian and European markets too weighed on investor sentiment, the report quoting analysts said.

TCS and Infosys were the top losers in the Sensex pack, falling up to 3.39 per cent.

Sectorally, the BSE IT index lost the most, shedding 2.09 per cent, followed by power and utilities.

“The fall was mainly due to the sudden fall in the IT stocks like TCS, Wipro and Infosys,” said Joseph Thomas, Head Research - Emkay Wealth Management.

There is a certain level of inaction stemming from the European economic numbers indicating a slowdown in growth, and an enhanced rhetoric in the sub-continent on the Indo-Pak relations, he added.

Metal, telecom, auto and realty indices, however, ended in the green, rising up to 1.66 per cent.

Meanwhile, broader indices outperformed benchmark indices, with the BSE Midcap and Smallcap rising up to 0.55 per cent.

Investor sentiment also turned negative on heavy selling by foreign institutional investors (FIIs), said traders.

FIIs sold shares worth a net Rs 1,239.79 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 2,336.74 crore on Monday, provisional data available with BSE showed.

Elsewhere in Asia, Hong Kong’s Hang Seng fell 0.42 per cent and Korea’s Kospi fell 0.24 per cent. Japan’s Nikkei ended 0.09 per cent up and Shanghai Composite Index inched up 0.04 per cent.

In the Eurozone, Frankfurt’s DAX was down 0.12 per cent, Paris CAC 40 fell 0.40 per cent, and London’s FTSE shed 0.55 per cent in early deals.

Meanwhile, the domestic currency derivatives markets were closed on account of Chhatrapati Shivaji Jayanti.

Brent crude futures were trading 0.29 per cent lower at $66.31 per barrel. (with inputs from PTI)

Euro weakens as slowdown fears grow

The euro fell on Tuesday as investors shifted their focus from progress in US-China trade talks to an economic slowdown in the eurozone.

The single currency was buoyed on Monday as expectations grew for an easing of the US-China trade conflict. But euro zone bond yields, notably those of German bunds, fell amid the cloudy European economic outlook, and that weighed on the euro. Click here to read in full the global forex report .

European shares cling onto highs on optimism over trade talks

European shares edged down slightly on Tuesday at the open, but clung to highs not seen since October, as optimism about Sino/ US trade talks helped maintain the morale despite a few earnings disappointments such as HSBC's and BHP Group's. At 0829 GMT, the STOXX 600 was down 0.2 per cent, with most European bourses close to flat. Click here to read the European share markets report in full.

Sensex, Nifty give up gains to trade in the red

The Sensex and Nifty, which have traded in positive territory throughout the day today, fell into the red in late session on Tuesday.

Near the close of trading, the Sensex was quoting at 35,388 points, down 109 points or 0.31 per cent lower, while the Nifty was quoting at 10,617, down 23 points or 0.22 per cent lower.

The top gainers on the Sensex were VEDL, M&M, ONGC, Tata Steel, and ICICI Bank, while the laggards were TCS, NTPC, IndusInd Bank, Infosys and HeroMotoCorp.

Corporates may see slowdown in revenue growth over 24 months: S&P

S&P Global Ratings on Tuesday said rated Indian corporates are likely to see a slowdown in revenue growth over the next 12-24 months.

In a report titled ‘Indian Corporate 2019 Outlook - Time For Caution’, S&P said, “India’s central government elections this year may pose additional risks for Indian corporates. A change of administration may trigger expansionary government spending that pushes up borrowing costs or raises inflation”. Click here to read the full report on S&P projections for corporate revenue growth

Oil hovers just below 2019 highs as markets look to trade talks

The IEA left its demand growth forecast for 2019 unchanged from its last report in January at 1.4 million barrels per day. File Photo

Oil prices hovered just below 2019 highs on Tuesday as traders waited for the outcome of US-China trade talks this week, while supply cuts led by producer group OPEC meant markets were relatively tight.

International Brent crude oil futures were at $66.52 per barrel at 0755 GMT, 5 cents above their last close and not far off the 2019 high of $66.83 a barrel hit in the previous session. Click here to read in full the oil markets report .

Sensex, Nifty extend gains

The benchmark indices, the BSE Sensex and the NSE Nifty, extended their morning gains in the afternoon session. The Sensex rose 0.59 per cent or 210 points to quote at 35,710, while the Nifty was trading at 10,707, up 66 points or 0.62 per cent higher.

The top gainers on the Sensex were VEDL, ICICI Bank, SBI, Tata Steel and M&M, while the laggards were NTPC, TCS, IndusInd Bank, Infosys and Hindustan Unilever.

Nifty call: Buy on declines with fixed stop-loss at 10,720 levels

The Sensex and the Nifty began the session on a positive note and continue to trend upwards. The market breadth of the Nifty index is biased towards advances.

The India VIX has slipped almost 3 per cent to 17.47 levels. Both the mid and small-cap segments are witnessing buying interest, and have gained almost 1 per cent each. Click here to read in full the Nifty call report.

Sensex, Nifty firm but off highs

The benchmark indices, the BSE Sensex and NSE Nifty, continued to trade in the green in the afternoon session on Tuesday. However, they had come off their morning highs.

The Sensex was quoting at 35,636, up 138 points or 0.39 per cent higher, while the Nifty was trading at 10,679, up 38 points or 0.36 per cent higher.

The top gainers on the Sensex were ICICI Bank, VEDL, Bharti Airtel, M&M and SBI, while the laggards were NTPC, Infosys, TCS. Hindustan Unilever and IndusInd Bank.

Asian shares hover near 4-month highs, yen eases on Kuroda comments

Emerging markets were set for their first back-to-back weekly loss since late last year. Representative image.

Asian shares hovered near four-month highs on Tuesday as investors took heart from some progress in Sino-US trade talks, while the yen slipped as the Japanese central bank said it won't rule out further policy easing. Spreadbetters pointed to a positive start for Europe, while E-mini futures for the S&P 500 and the Dow were a shade weaker. Click here to read in full the Asian markets report .

TCS may test support at Rs 1,901

Shares of Tata Consultancy Services Ltd (TCS) fell as much as 1.98 per cent to Rs 1931.3, their lowest since Janurary 28.

The stock broke below its 50-day exponential moving average and below a support at Rs 1973.11. This suggests that the stock may test the next support at Rs 1,900.95.

The firm’s stocks were up 34.35 per cent in the last one year as of Monday's close, compared to the Nifty’s 1.8 per cent gain in the same period.

Sensex, Nifty hold firm

The Sensex and the Nifty held firm in morning trade on Tuesday. The Sensex was trading at 35,662, up 163 points or 0.46 per cent higher, while the Nifty was quoted at 10,681, up 40 points or 0.38 per cent higher.

The top gainers on the Sensex were Bharti Airtel, M&M, Bajaj Finance, ICICI Bank and Tata Motors, while the laggards were Infosys, NTPC, TCS, Hindustan Unilever and HCL Tech.

According to agency reports, the Sensex recovered today on strong buying by domestic institutional investors amid positive global cues.

Investor sentiment was positive on strong buying by domestic institutional investors (DIIs), the report said quoting traders.

Gold stays near 10-month peak

Gold prices hovered near 10-month highs on Tuesday as optimism around US-China trade discussions dimmed the dollar's appeal, while palladium struck a record high on supply concerns.

Spot gold slipped 0.2 per cent to $1,323.81 per ounce as of 0448 GMT. The metal had touched $1,327.64 an ounce in the previous session, its highest since April 25. US gold futures rose 0.4 per cent to $1,326.8 an ounce. Click here to read the gold report in full.

Asian shares near 4-month high, buoyed by trade optimism

Emerging markets were set for their first back-to-back weekly loss since late last year. Representative image.

Asian shares hovered near four-month highs on Tuesday, supported by hopes that Sino-United States (US) trade talks were making progress and expectations of policy stimulus from central banks. Investor confidence was bolstered by mild gains in European stocks as US markets were shut on Monday for a public holiday. Click here to read the Asian markets report in full.

Currency derivatives market closed for Chhatrapati Shivaji Jayanti

The domestic currency derivatives markets are closed on Tuesday on account of Chhatrapati Shivaji Jayanti.

‘Transaction price for REC-PFC merger being finalised’

Power Finance Corporation Managing Director Rajeev Sharma on Monday dismissed speculations on the value of the merger deal with Rural Electrification Corporation. While the deal is expected to be closed by the end of the current fiscal, the transaction price has not been finalised yet and price determination is under way, Sharma said in a media conference in Mumbai on Monday. Click here to read the full report on determination of transaction price for REC-PFC merger .

Mutual fund houses push sell button on auto and construction sectors

Mutual funds have dumped automobile stocks, bringing down their holding by 17 per cent to ₹60,426 crore in January against ₹72,924 crore logged in December. Their holding of construction sector stocks was also down at ₹45,812 crore (₹48,830 crore) due to a slowdown in fresh investments and concern over the financial performance of the players. Click here to read in full the report on MFs selling auto and construction sector stocks .

Govt gets ₹28,000-cr interim dividend from RBI

The RBI on Monday announced an interim dividend of ₹28,000 crore for the Centre. The dividend amount has always been a contentious issue between the central bank and the government, with the later demanding that the RBI part with a greater share of its capital. Click here to read the full report on RBI's interim dividend to the Centre .

NSEL: Chidambaram, other officers face ₹10,000-cr lawsuits

The NSEL saga took an ugly turn on Monday with 63 moons technologies (formerly FTIL) announcing it has decided to slap ₹10,000-crore damage suits against former Finance Minister P Chidambaram, then FMC Chairman Ramesh Abhishek and then Additional Secretary in Finance Ministry KP Krishnan for their “proactive role” in conjuring the fall of the exchange ecosystem created by 63 moons to favour its competitor, the NSE. Click here to read the full report on NSEL decision to slap Rs 10,000-cr lawsuits against former FM, others

Sensex, Nifty make further gains

The benchmark indices, the BSE Sensex and the NSE Nifty, surged nearly half a per cent in the first hour of trading on Tuesday. The Sensex was quoting at 35,652, up 154 points or 0.43 per cent higher, while the Nifty was trading at 10,683, up 42 points or 0.40 per cent higher.

According to reports, the Sensex recovered on strong buying by domestic institutional investors amid positive global cues.

Investor sentiment was positive on strong buying by domestic institutional investors (DIIs), the report said quoting traders.

On a net basis, DIIs were net buyers to the tune of Rs 2,336.74 crore, while foreign institutional investors sold shares worth a net of Rs 1,239.79 crore on Monday, provisional data available with BSE showed.

A firm trend in global equities on hopes of a resolution to the US-China trade conflict, as the next round of talks begin later in the day, too pushed domestic indices in the positive terrain, traders added.

Hong Kong’s Hang Seng was up 0.03 per cent, Shanghai Composite Index rose 0.25 per cent higher, the Kospi inched 0.01 per cent higher, and Japan’s Nikkei gained 0.07 per cent in early trade.

On Wall Street, the Dow Jones Industrial Average was closed on Monday for a public holiday.

The benchmark Brent crude futures slipped 0.57 per cent to $66.12 per barrel. Meanwhile, the domestic currency derivatives markets are closed on account of Chhatrapati Shivaji Jayanti.  (with inputs from PTI)

Rupee goes from first to last

The rupee has gone from being the best-performing Asian currency last quarter to the worst this year as rising crude prices and tensions over Kashmir weigh on sentiment. Click here to read the in full report on the rupee's path from first to last

Euro's bounce slows as focus shifts back to economy, ECB policy

The dollar held steady against its peers on Tuesday, lacking strong direction as United States (US) markets were shut for a holiday the previous day, while the euro's latest bounce slowed as the focus drifted back to the economy and European Central Bank (ECB) policy. Click here to read the dollar report in full.

Brent oil eases from 2019 highs as markets await trade talks outcome

Brent crude oil prices eased away from 2019 highs on Tuesday on caution that economic growth may dent fuel demand this year, although supply cuts led by producer cartel Organization of the Petroleum Exporting Countries (OPEC) still meant markets were relatively tight. Click here to read in full the oil markets report .

Apex court says no to reopening of Sterlite copper plant in TN

The Supreme Court on Monday refused to allow reopening of Vedanta’s Sterlite plant in Tamil Nadu’s Thoothukudi district, which was at the centre of massive protests over pollution concerns, but granted the company liberty to approach the high court. Click here to read the full report on apex court ruling against reopening of Sterlite plant

Sensex, Nifty reverse downtrend

The Sensex and the Nifty reversed Monday's downtrend to head north in early trading on Tuesday. The Sensex spurted 131 points or 0.37 per cent to quote at 35,624, while the Nifty was up 26 points or 0.25 per cent at 10,667.

The top gainers on the Sensex were Bharti Airtel, Bajaj Finance, M&M, ICICI Bank and VEDL, while the laggards were Infosys, TCS, Hindustan Unilever, Tata Motors and IndusInd Bank.

Will Grasim acquisition add strength?

Grasim Industries on Monday signed a definitive agreement to acquire the chlor-alkali business of KPR Industries by way of a slump sale for ₹253 crore. The transaction will be funded through internal accruals. KPR would, in turn, use the funds towards a full and final settlement of the lenders’ dues under a one-time settlement. While the transaction is subject to necessary approvals, shareholders of Grasim Industries will watch the development closely.

Cipla takes stake in Wellthy Therapeutics

Cipla’s wholly-owned subsidiary, Goldencross Pharma Private Ltd, on Monday, signed an agreement to acquire 11.71 per cent stake in Wellthy Therapeutics Private Ltd for ₹10.5 crore. The transaction is expected to be completed by March 10. Cipla and Wellthy have entered into a partnership to offer a combination of pharmacotherapy and digital therapeutics for improved patient outcomes in the chronic therapies of diabetology and cardiology.

Opening bell

The benchmark indices, the BSE Sensex and the NSE Nifty, opened Tuesday's session flat. The Sensex was quoting at 35,493, down 5 points or 0.02 per cent lower, while the Nifty was at 10,636, down 4 points or 0.04 per cent lower.

The Sensex plunged 310 points or 0.87 per cent to 35,498 points at close of trading on Monday. The Nifty was also sharply lower at 10,640, representing a fall of 83 points or 0.78 per cent.

Adani Gas: Positives priced in

In early November 2018, Adani Gas, the demerged gas distribution arm of the Adani Group was listed on the bourses at ₹72 per share. Since then, the stock has rallied about 33 per cent and now trades at about ₹96 a piece. Compared with its peers in the city gas distribution (CGD) business, Adani Gas listed at a valuation premium that has widened since then.  Click here to read in full the Stock Fundamentals on Adani Gas

Day Trading Guide for Tuesday, February 19, 2019

Given below are supports and resistances for Nifty 50 futures and seven key stocks that can help in your intra-day trading:

₹2089 • HDFC Bank

₹740 • Infosys

₹274 • ITC

₹137 • ONGC

₹1219 • Reliance Ind.

₹259 • SBI

₹1971 • TCS

10662 • Nifty 50 Futures

S1, S2 : Support 1 & 2; R1, R2: Resistance 1 & 2.

Today's Pick: Triveni Engineering & Industries (₹47.8): Buy

Investors with a short-term horizon can buy the stock of Triveni Engineering & Industries at current levels.

Following a medium-term downtrend, the stock found support at ₹41 in late January this year. Subsequently, the stock changed direction triggered by a positive divergence in the daily relative strength index. Since then, the stock has been in a near-term uptrend. While trending up, the stock has breached its 21- and 50-DMA resistances. There has been an increase in daily volume over the past two weeks. Click here to read in full the Today's Pick on Triveni Engg

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