Indices stage moderate recovery; Sensex ends up 353 pts; Nifty holds above 11,000 mark

Trump backed off his Sept 1 deadline on some Chinese product imports

Closing Bell

Key stock indices bounced back sharply from yesterday's fall mainly taking cues from strong global markets. US market and Asian markets went up after US President Donald Trump  backed off his September 1 deadline for 10 per cent tariffs on remaining Chinese imports, delaying duties on cellphones, laptops and other consumer goods. This was seen as a big relief to the falling markets and markets opened sharply higher.

Also, there were some rumours amid media reports indicating that there could be some relief from the surcharge on super-rich in coming days which sustained the gains for the day.

After opening stronger at 37,233.50, the Sensex touched an intraday high of 37,473.61, before settling at 37,311.53, up by 353.37 points or 0.96% over its previous close.

Similarly, the NSE Nifty, which opened higher at 11,003.25, ended at 11,029.40, up 103.55 points from its previous close.

Sectoral indices such as Banking, Auto, Media, Metal, Financial Services, FMCG and Metal rose between 1 per cent and 2.75 per cent.

However, Pharma index performed poorly today on the back of  selling pressure in pharma stocks. While the biggest loser was Glenmark, which lost nearly 8 per cent or Rs 32.35 to Rs 383.25, Sun Pharma was down 5.18% to Rs 416.50 and Lupin has shed nearly 2% to Rs 734 on the NSE today.

 

 

NSE SECTORAL INDICES

 

NSE SECTORAL INDICES

 

 

Pharma stocks

 

 

Sensex stocks

 

3.15 pm

Apollo Hospitals stock climb nearly 3 per cent

Apollo Hospitals Enterprise shares rose nearly 3 per cent or Rs 38 at Rs 1,362 on the BSE today. Volumes spurted to 1.44 lakh shares in the counter against Two-week Average volume of 35,000 shares.

 

Apollo Hospitals intraday chart

 

Company news: Apollo Hospitals

on Monday said it has issued letters of comfort (LOC) worth ₹101 crore relating to credit facilities availed by its subsidiary companies. The company ...

Read More  

Khazanah arm selling stake in Apollo Hospitals; shares plunge nearly 3%

Apollo Hospitals Enterprise Ltd shares fell as much as 2.7 per cent on Thursday as an arm of Malaysian sovereign fund Khazanah was looking to exit the ...

Read More

Apollo Hospitals: Rights, results to be in focus

The board of directors of Apollo Hospitals Enterprise will meet on Thursday to consider a proposal for further issue of equity shares on rights basis, ...

Read More  

3.00 pm

NSE SECTORAL INDICES

 

2.50 pm

BSE LARGE MIDCAP INDEX

Large Mid-cap Stocks on BSE

 

2.50 p.m

 

BSE LARGE MIDCAP INDEX

 

2.45 pm

Sensex stocks

 

2.45 pm

 

2.35 pm

Nifty Bank index

 

2.25 pm

Tata Power continues to fall for the fifth straight session

Tata Power Company Ltd fell for a fifth straight session today. The stock is quoting at Rs 55.40, down 0.75% at 2:15 p.m on the BSE. Volumes traded in the counter were 4.56 lakh shares on the BSE against the 2-week average quantity of 5.90 lakh shares

The Sensex is being quoted at 37342.32, up 1.04% and the benchmark Nifty is up around 1% on the day, quoting at 11035.15.

Tata Power had declined around 19.62% in last one month.

Meanwhile, Nifty Energy index of which Tata Power Company Ltd is a constituent, has lost  around 5.24% in last one month and is currently quoting at 14,618.15, up 1.35% today.

 

Despite tariff concerns, Tata Power to grow renewable energy biz

Even as solar and wind power tariffs are yet to settle at sustainable levels Tata Power is looking to scale up its renewable energy capacity ...

Read More

Tata Power to install 500 EV charging stations across 5 cities in next one year

Our understanding of power business will help us provide answers to complex issues: CEO

Read More  

 

2.15 pm

Dr Reddy's Lab shares slump as US FDA hands out complete response letter

 

Drugmaker Dr.Reddy's Laboratories Ltd's shares fell as much as 8% to Rs 2,351.20 , their lowest since February 15. However, the stock recouped some of the losses in the afternoon session. At 2 p.m, the stock was being quoted at Rs 2,501.05, down by Rs 56.95 or 2.23% on the BSE.

READ MORE

Exelixis inks pact with Dr Reddy’s arm

US-based Exelixis Inc has entered into an exclusive collaboration with Aurigene Discovery Technologies, an arm of Dr Reddy’s Laboratories Ltd. The ...

Read More

Dr Reddy’s launches pregabalin capsules in US

Pharma major Dr Reddy’s Laboratories Ltd has on Tuesday announced the launch of Pregabalin capsules, a therapeutic equivalent generic version of ...

Read More

Dr Reddy’s Laboratories: A key role change amid tough times

The relinquishing of the CEO post by GV Prasad, son-in-law of Dr Reddy’s Laboratories founder K Anji Reddy, will effectively move most of the ...

Read More  

2 p.m

Sun Pharma Q1: Stock falls despite strong operational performance

 

Markets don’t seem to be impressed by the good set of numbers from Sun Pharma.

The stock of the company has declined over 6 per cent since morning today despite the company having reported strong operational performance for the first quarter of 2019-20.

READ MORE

Sun Pharma posts Q1 profit at ₹1,387-cr

Sun Pharmaceutical Industries on Tuesday reported a consolidated net profit of ₹1,387.48 crore for the quarter ended June 30, 2019. The company had ...

Read More

Sun Pharma shuts two clinical pharmacology units in Vadodara

Drug major Sun Pharma on Saturday said it is discontinuing operations at two clinical pharmacology units in Vadodara (Gujarat) to bring in ...

Read More  

1.55 pm

VOLUME GAINERS ON NSE

Volume Gainers on NSE

 

 

1.50 pm

Nifty Call: Buy in dips with a fixed stop-loss at 10,990 levels

Nifty 50 August Futures (11,039)

The key benchmark indices — the Sensex and the Nifty began the session in positive territory, taking cues from the bullish global markets. The Dow Jones had gained 1.4 per cent to 26,279 and S&P 500 gained 1.5 per cent to 2,926 in last session.

READ MORE

Index Outlook: Indices could remain volatile

After a corrective rally last week, the Sensex and Nifty may face resistance ahead

Read More  

 

1.35 pm

 

Sensex stocks

 

1.30 pm

 

12.45 PM

Stock markets await Nirmala Sitaraman's decision on LTCG

Following the blood bath on Tuesday, stock market eyes are now on Finance Minister Nirmala Sitharaman. After a meeting with top foreign fund managers and corporate honchos on August 9, she declared that positive announcements will be made soon on corporate tax

READ MORE

bl04_capital_gains_3150567g

 

More than super-rich tax, the dull equity market is putting FPIs off

After all, they continue to invest in debt even when paying the levy on the interest income

Read More

 

FM makes no promises as FPIs seek full rollback of super-rich tax

Stock market rises on expectation that the Centre will offer some relief

Read More

 

12.35 pm

Risks in India's banking sector may rise, says Fitch Ratings

 

Risks in India's banking sector may rise as a result of the central bank's recent steps encouraging banks to lend more to Non-Bank Financial Institutions (NBFIs) and retail borrowers, according to Fitch Ratings.

READ MORE

 

RBI ups cap on bank credit to NBFCs

In a bid to boost credit to the needy segment of borrowers, the RBI on Tuesday said bank credit to non-banking financial companies (NBFCs) for ...

Read More

We need a voluntary asset quality review for NBFC sector: Saurabh Mukherjea

 Over the past few months, concerns about the slowdown in the economy have taken centrestage. Speaking to BusinessLine on the sidelines of the CFA ...

Read More  

 

12.20 pm

Kaveri Seeds up 5% after Q1 results

 

Despite a drop in acreage under key crops in 2019-20 due to delay in onset of monsoon, Kaveri Seeds has reported good numbers for June quarter 2019. On standalone basis, net sales reported growth of 12.6 per cent Y-o-Y, and profit growth was 8.7 per cent.

READ MORE

 

12.10 pm

Broker's call: SpiceJet (Buy)

 

ICICI Securities

SpiceJet (Buy)

CMP: ₹127.95

Target: ₹175

SpiceJet reported better than expected performance driven by higher topline (driven by 11 per cent growth in fares). Company reported PAT of ₹262 crore, but it includes expected reimbursement of ₹114 crore from Boeing on account of MAX grounding. Adjusting for it, PAT would be ₹150 crore (I-Sec: ₹112 crore).

READ MORE

 

11.55 am

Reliance Infrastructure rises after Q1 profit jump

Shares of Anil Ambani-led Reliance Infrastructure Ltd rise as much as 12.9% to Rs 50.85.

The company on Tuesday posted 20% jump in net profit to Rs 299 crore ($42.15 mln), aided by 6.3% jump in revenue from the power generation business

 

RInfra lenders sign inter-creditor agreement on resolution plan

The Anil Ambani-led Reliance Infrastructure Ltd’s 16 lenders have signed an inter-creditor agreement (ICA) in an effort to resolve its debt. An ICA ...

Read More

Anil Ambani plans $3.2 billion asset sales

Indian tycoon Anil Ambani plans to raise about ₹21,700 crore ($3.2 billion) by selling assets from roads to radio stations in a bid to cut ...

Read More  

11.40 am

 

 

11.40 am

Silver touches all-time high of Rs 45,000; gold falls Rs 100

Silver prices on Tuesday soared Rs 2,000 to touch an all-time high mark of Rs 45,000 a kg, while gold declined by Rs 100 to Rs 38,370 per 10 gram in the national capital, according to the All India Sarafa Association.

READ MORE

 

 

Silver rates

       

Read More  

 

11.25 am

Trade war: Trump bows to economic fears in move to delay China tariffs

 

US President Donald Trump bowed to pressure from US businesses and concerns over the economic fallout of his trade war with China, delaying the imposition of new tariffs on a wide variety of consumer products including toys and laptops until December.

READ MORE

Yen up as markets dismiss Trump's trade concession, China data disappoints

The yen rose on Wednesday as weaker-than-expected Chinese economic data reinforced the view that resolving the trade war was a long way off even if ...

Read More  

Trump delays tariffs on some Chinese goods, markets jump

US President Donald Trump on Tuesday backed off his September 1 deadline for 10 per cent tariffs on remaining Chinese imports, delaying duties on ...

Read More

Asian markets bounce in relief as Trump delays China tariffs

Asian markets joined a global equities surge on Wednesday, after Washington delayed tariffs on some Chinese imports and gave much-needed relief for ...

Read More  

11.10 am

CPI inflation in July falls, but it can move up in the coming months

Increase in food prices, higher core inflation and volatility in crude prices can add upward pressure on inflation.

Read more

 

Retail inflation at sub-4% for 12th month in a row

Reflects low consumer demand; MPC gets more space to cut rates further

Read More

 

 

The real interest rate conundrum

Arguing for lower interest rates when inflation is declining can be misleading. Prices actually fall only when inflation is negative

Read More  

11.05 am

Hathway Cable, DEN rise on Reliance fibre optic broadband plan

Shares of cable TV and broadband service providers Hathway Cable and Datacom Ltd and Den Networks Ltd rise as much as 15.6% and 7%, respectively

Reliance Industries on Monday unveiled plans to launch high-speed internet services in India, in tie-up with Microsoft

Read more

RIL’s Hathway and Den buys to hit broadcasters, DTH firms: Ind-Ra

Acquisition will give RIL direct access to MSOs’ vast broadband infrastructure and large pool of pay cable TV subscribers

Read More

Hathway launches Android TV-based Play box

Also rolls out Ultra Smart HUB on Android platform

Read More  

10.55 am

Cotton drives Kaveri Seed's revenues; PAT up at Rs 229 cr

 

The Board of Directors of Kaveri Seed Company has recommended an interim dividend of 150 per cent, or Rs 3 on each share of Rs 2 each, for the financial year 2019-20. It set August 23, 2019, as the record date for this purpose.

For the quarter ended June 30, 2019, the company reported a revenue of Rs 660 crore as against Rs 599 crore in the same period, the last financial year.

READ MORE

 

10.45 am

NSE Nifty breaks above key 11,000 levels; may retest support range of 10,828 - 10,782 levels

The NSE index Nifty is likely to test a support at 10,917.51, before falling further into the range of 10,828.46 to 10,782.60.

The range is identified as the 38.2% Fibonacci projection level of the downtrend from July 17 high to Aug 5 low and the low hit on Aug 5 .

READ MORE

 

10.35 am

Glenmark Pharma hits over 7-year low after Q1 profit misses estimates

 

Shares of Glenmark Pharmaceuticals Ltd fall as much as 7.24% to Rs 385.5, their lowest since August 3, 2012

The pharma major posts a 53% drop in June quarter profit to Rs 109 crore.

Read more

 

Glenmark Pharma gets USFDA nod for acid reflux medication

Glenmark Pharmaceuticals on Tuesday said it has received final approval from the US health regulator for a generic version of AstraZeneca’s Nexium, ...

Read More  

Glenmark Pharma signs agreement with Grandpharma

Glenmark Pharmaceuticals on Wednesday announced that its Swiss subsidiary, Glenmark Specialty SA, has entered into an exclusive licensing agreement ...

Read More  

10.15 am

FinMin kickstarts credit-support plan for NBFCs

The Finance Ministry has come out with a scheme to operationalise the Budget announcement of a partial credit guarantee facility for public sector banks worth ₹1-lakh crore for the purchase of high-rated pooled assets of financially sound non-banking financial companies (NBFCs) and housing finance companies (HFCs).

READ MORE

RBI ups cap on bank credit to NBFCs

In a bid to boost credit to the needy segment of borrowers, the RBI on Tuesday said bank credit to non-banking financial companies (NBFCs) for ...

Read More

India Inc seeks Rs 1 lakh cr stimulus package to kick-start investment cycle, revive growth

The Finance Minister and ministry officials met captains of the industry to deliberate upon the issues about the economy and sagging industrial ...

Read More  

10.10 am

Day Trading Guide for August 14, 2019

 

₹2220 • HDFC Bank

 

S1

S2

R1

R2

COMMENT

2205

2190

2235

2250

Consider initiating fresh short positions with a tight stop-loss if the stock falls below ₹2,205 levels

 

READ MORE

10.05 am

₹764 • Infosys: Sell Infosys if stock fails to move above Rs 770

 

S1

S2

R1

R2

COMMENT

755

745

770

780

Fresh short positions can be initiated with a stiff stop-loss if the stock of Infosys fails to move beyond ₹770 levels

10 a.m

 

 

9.55 am

Rupee up 48 paise in early trades

The rupee rose by 48 paise to 70.92 against the dollar in early trade on Wednesday amid market recovery across Asia.

Forex traders said the recovery was mainly due to Trump's decision that delayed tariffs on some Chinese imports and that gave much-needed relief for markets gripped by political and economic turmoil.

At 9.50 am, the rupee opened firmer at 71.00, then edged up a high of 70.85, before being quoted at 70.92 against the American currency, gaining 48 paise from its previous closing price.

The Indian rupee on Tuesday had closed at 71.40 against the US dollar.

Rupee hits six-month low of 71.40. What next?

The Indian rupee opened with a gap down at 71.16 and ended the day lower at 71.40, the lowest closing level in past six months, amid rising ...

Read More  

 

9.40 am

 

Reliance Ind intraday chart

9.35 am

 

Vedanta intraday chart

 

 

9.35 am

Tata Steel  Intraday chart

 

9.30 am

Sensex stocks

 

9.25 am

 

 

9.15 am

Sensex, Nifty bounce back

Key stock indices bounced up sharply from yesterday's fall taking cues from other Asian peers. US market and Asian markets went up as US President Donald Trump  backed off his September 1 deadline for 10 per cent tariffs on remaining Chinese imports, delaying duties on cellphones, laptops and other consumer goods.

After opening higher at 37,233.50, the Sensex was being quotea at 37,145.62, up by 187.46 points from its previous close.

The NSE Nifty, which opened higher at 11,003.25, is now quoted at 10,981.10, up 55.25 points from its previous close.

Following the RBI announcement, the BSE 30-share index 1.38 per cent. File Photo   -  Bloomberg

 

 

9.05 am

Today's Pick: Manappuram Finance (₹116.3)

Investors with a short-term perspective can sell the stock of Manappuram Finance at current levels. The stock has been on a short-term downtrend.

Read more

 

 

9 am

Asian markets bounce in relief as Trump delays China tariffs

Asian markets joined a global equities surge on Wednesday, after Washington delayed tariffs on some Chinese imports and gave much-needed relief for markets gripped by political and economic turmoil.

READ MORE

 

Date | Time
Published on August 14, 2019

Related

  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.