Market updates: Nifty ends around 9,100, Sensex up 100 points

Auto, Media and Metal traded well today, Banks were under pressure.

3.35 pm

Closing bell:

Even though the Asian markets put up slow growth today, the benchmark indices here moved in the positive direction. They stayed in the same zone for the entire session.

Nifty closed around 9,098.00, up 31.45 points or 0.35 per cent. The BSE Sensex advanced 30,932.90, up 114.29 points or 0.37 per cent. Hindalco, ITC were the top gainers for the day, meanwhile, Bajaj Finance and NTPC were top laggards.

3.20 pm

Bajaj Auto Q4 FY’20 results: Superior product mix, lower taxes aid profit growth

Domestic, rather than export market could be key driver going forward

Read More  

3.05 pm

Company announcement:

Kalpataru Power Transmission Limited (KPTL) will raise funds by issuing secured/unsecured redeemable non-convertible debentures (NCDs) upto ₹300 crore in one or more tranches.

Further, the KPTL board has proposed to buy back shares worth up to ₹200 crore at a price not exceeding ₹275 per share.

2.55 pm

JK Lakshmi Cement shares rally over 11 per cent as Q4 profit jumps two-fold

Shares of JK Lakshmi Cement on Thursday jumped nearly 11 per cent after the company reported over two-fold jump in consolidated net profit for the ...

Read More  

2.35 pm

Update: The sale of GMR Energy’s entire stake in GMR Kamalanga Energy Ltd to JSW Energy has been put on hold on account of outbreak of Covid-19, according to a regulatory filing.

In February, JSW Energy had signed a share purchase agreement to acquire 100 per cent of GMR Kamalanga Energy, which owns and operates a 1,050 MW (3x350 MW) thermal power plant in Odisha, for ₹5,321 crore (subject to working capital and other adjustments).

2.20 pm

ICICI Bank launches special FD scheme for senior citizens

Private sector lender ICICI Bank on Thursday ICICI Bank announced a special fixed deposit scheme for senior citizens, which offers a higher interest ...

Read More  

2.00 pm

SEBI revises post-default curing period for credit rating agencies

Credit rating agencies (CRAs) now have more say in how they want to upgrade a company’s status from default to a notch higher.The Securities and ...

Read More  

1.37 pm

Nifty call:

Nifty 50 May Futures (9,108)

The Sensex and Nifty started the session on positive note and continued to trade in the positive zone despite weak Asian markets. The Nikkei 225 has declined by 0.2 per cent to 20,552 and Hang Seng index has slumped 0.6 per cent to 24,249 in today's session. Both the Sensex and Nifty have gained 0.7 per cent each.

Strategy: The contract is range-bound, tread with caution

Supports: 9080 and 9,060

Resistances: 9,135 and 9,150

Nifty Call: Tread with caution, contract is range-bound

Nifty 50 May Futures (9,108)The Sensex and Nifty started the session on positive note and continued to trade in the positive zone despite weak Asian ...

Read More  

1.30 pm

Cyber security services market to treble at $13.6 b by 2025

From $4.3 b in 2019, it will grow to $9.3 b by 2023

Read More  

1.10 pm

Just in:

Bookings also to resume at ticket counters of stations in next 2-3 days; we are conducting studies, developing protocol, said Railway Minister Piyush Goyal. Will announce resumption of more trains; it is time to take India towards normalcy, he said.

On May 20, 279 Shramik trains were run taking 5 lakh migrant labourers, students and trapped tourists to their homes, he said. -PTI

12.55 pm

Updates: Power utility company CESC on Thursday said it has raised Rs 300 crore through issuance of non-convertible debentures (NCDs).

“3,000 Non-Convertible Debentures of face value of Rs 10 lakh each aggregating to Rs 300 crore have been allotted today, on a private placement basis, to ICICI Bank Ltd,” according to a regulatory filing. -PTI

12.40 pm

Update: Shares of JK Lakshmi Cement on Thursday jumped nearly 11 per cent after the company reported over two-fold jump in consolidated net profit for the fourth quarter ended on March 2020.

The stock advanced 10.75 per cent to Rs 220.80 on BSE, and surged 9.17 per cent to Rs 217.80 on NSE.

12.20 pm

Stock update: Aviation stocks rallied up to 10 per cent in opening trade after the government announced that domestic passenger flight services will resume from May 25 in a calibrated manner.

InterGlobe Aviation shares zoomed 9.88 per cent to ₹1,002 on the BSE.

SpiceJet also jumped 4.88 per cent to ₹42.95 -- its upper circuit limit.

12.05 pm

Bajaj Auto Q4 FY’20 results: Superior product mix, lower taxes aid profit growth

Domestic, rather than export market could be key driver going forward

Read More  

11.54 am

MSME Updates: Finance Minister Niramla Sitharaman is hopeful that the government guarantee on additional working capital loan to Micro, Small and Medium Enterprises (MSME) will facilitate enhanced lending by banks. She has also asked industry to re-skill workers to equip them for the post-Covid regime.

“Full and partial guarantees provided by the government through a special purpose vehicle would address bank hesitation,” she said during her engagement with members of CII. Read more here.

11.45 am

Aatmanirbhar Bharat Abhiyaan package: Centre’s fiscal outgo to be ₹3-lakh crore over 2021, 2022

The fiscal outgo for the Union Government towards the ₹20.97-lakh crore Aatmanirbhar Bharat Abhiyaan package, announced last week by the Finance ...

Read More  

11.30 am

Company news:

Cipla Ltd  said it has received final approval from the US health regulator for Dihydroergotamine Mesylate nasal spray, indicated for the treatment of migraine headaches.

11.10 am

Rupee call:

The rupee (INR) has begun the session at 75.68 versus its previous close of 75.79 against the dollar (USD). On Wednesday, the Indian currency depreciated by 0.2 per cent, ending the session 75.79. There was a negative impact on rupee yesterday as the Foreign Portfolio Investments (FPI) dumped domestic assets. The net outflow of FPIs stood at ₹1,466 crore (equity and debt combined).

Rupee weak below 75.6

The rupee (INR) has begun the session at 75.68 versus its previous close of 75.79 against the dollar (USD). On Wednesday, the Indian currency ...

Read More  

11.00 am

News analysis: The fiscal outgo for the Union Government towards the ₹20.97-lakh crore Aatmanirbhar Bharat Abhiyaan package, announced last week by the Finance Minister, will be about ₹3-lakh crore over two fiscals ― ₹1.8-lakh crore in fiscal 2021 and ₹1.17-lakh crore in fiscal 2022, according to an analysis by Brickwork Ratings (BWR).

The credit rating agency observed that banks and other financial institutions will have to do the heavy lifting under the package.

Read more on this here.

10.45 am

Online booking starts for 100 pairs of trains running from June 1

Online E-ticketing will be done through IRCTC website or through mobile app only.

Read More  

10.30 am

Reliance Industries rights shares trade at 40% premium

At ₹53,125 crore, India’s biggest equity offering by Reliance Industries Ltd, in the form of a rights issue, opened on May 20. The rights entitlements (RE) for the issue closed at a 40 per cent premium.

The counter closed the day at ₹212 against the previous close of ₹151.

The difference between the closing price on Wednesday and rights issue price stood at ₹180.3. On Wednesday, RIL shares closed at ₹1,437.30. The rights issue price is ₹1,257.

Reliance Industries rights shares trade at 40 per cent premium

At ₹53,125 crore, India’s biggest equity offering by Reliance Industries Ltd, in the form of a rights issue, opened on May 20. The rights ...

Read More  

10.15 am

List schemes that are under winding up process, SEBI tells fund houses

Now, Franklin has to compulsorily list its six debt schemes that are being closed

Read More  

10.00 am

Broker's call: Zensar Technologies (Buy)

Chola SecuritiesZensar Technologies (Buy)CMP: ₹84.95Target: ₹112In 4QFY20 Zensar’s consolidated revenues declined by 3.7 per cent y-o-y to ₹1,017.8 ...

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9.40 am

Aviation stock updates:

Post the last night's announcement regarding the commencement of the domestic flying from May 25 made rounds, the stocks of the aviation industry saw a surge in the opening session.

InterGlobe Aviation Ltd--

Spicejet Ltd--

 

9.30 am

Opening bell:

The benchmark indices opened in the positive territory. The BSE Sensex rose 140.92 points to 30,959.53 in opening session; NSE Nifty advanced 41.45 points to 9,108.

9.15 am

Today's stock pick: Granules India

Accompanied by above average volume, the stock of Granules India jumped 4 per cent on Wednesday. During the rally, it decisively broke a key resistance at ₹167 and exceeded the 21-DMA.

Granules India (₹171.7): Buy

Accompanied by above average volume, the stock of Granules India jumped 4 per cent on Wednesday. During the rally, it decisively broke a key ...

Read More  

9.05 am

Day trading guide:

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

₹858 • HDFC Bank

S1

S2

R1

R2

COMMENT

845

830

875

890

Initiate fresh long positions with a stiff stop-loss if the stock reverses higher from ₹845 levels

 

₹670 • Infosys

S1

S2

R1

R2

COMMENT

660

650

680

690

Make use of intra-day declines to buy the stock of Infosys while maintaining a fixed stop-loss at ₹660 levels

 

₹175 • ITC

S1

S2

R1

R2

COMMENT

173

170

179

182

The stock is witnessing buying interest at lower levels. Buy in declines with a fixed stop-loss at ₹173 levels

 

₹78 • ONGC

S1

S2

R1

R2

COMMENT

75

72

80

83

Consider initiating fresh long positions with a stiff stop-loss only if the stock of ONGC moves beyond ₹80 levels

 

₹1434 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1420

1405

1450

1465

Fresh long positions can be initiated with a tight stop-loss only if the sock of RIL rallies above ₹1,450 levels

 

₹153 • SBI

S1

S2

R1

R2

COMMENT

147

142

158

164

Consider initiating fresh long positions with a fixed stop-loss only if the stock of SBI moves beyond ₹158 levels

 

₹1952 • TCS

S1

S2

R1

R2

COMMENT

1930

1910

1970

1990

Initiate fresh long positions with a stiff stop-loss if the stock rebounds up from ₹1,930 levels

 

9066 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

9000

8900

9125

9200

Consider initiating fresh long positions with a tight stop-loss if the contract reverses higher from 9,000 levels

 

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

Published on May 21, 2020
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