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Closing Bell
The BSE benchmark Sensex climbed 623 points on the back of heavy buying from investors amidst short covering by traders. The clear mandate provided to the Narendra Modi-led BJP gave enough confidence to market players of recovery in economy.
The Sensex ended at 39,434.72, up by 623.33 points from yesterday's closing level of 38,811.39.
The NSE Nifty too rose 187.05 points and ended at 11,844.10.
All key sectoral indices including Auto, Banking, Financial Services, FMCG, Metal and Pharma achieved gains in the range between 1.50 per cent-5 per cent.
Yesterday, the benchmark BSE Sensex crossed the psychological 40K mark and the Nifty hit the 12 K level celebrating Modi's win in the general elections.
Nifty Sectoral Indices
PSU Bank index
PSU Bank index
Nifty Bank Index
Nifty Bank index
NIFTY AUTO INDEX
Nifty Auto index
Avadh Sugar hit 20% upper circuit
Avadh Sugar hit the upper circuit filter of 20% at Rs 616.70 on the NSE today. Volumes traded in the counter were 4.97 lakh shares as of now on the NSE.
Price Band Hitters on NSE
PRICE BAND HITTERS ON NSE (May 24, 2019)
NEW 52 WEEK HIGH
NEW 52-WEEK HIGH STOCKS (May 24, 2019)
2.10 pm
Eros International rises 8% on Q4 results
Eros International Media rose 8.10% to Rs 74.50 on the NSE after consolidated net profit rose 14.72% to Rs 69.74 crore in the fourth quarter ended March 31, 2019.
Volumes traded in the counter were 13,61,411 shares as of now
Rupee rises 35 paise against US dollar
The rupee appreciated by 35 paise to 69.67 against the United States (US) dollar in afternoon trade on Friday following the BJP’s thumping victory in the Lok Sabha polls.
Strong foreign institutional investment (FII) inflows and higher domestic equity markets also buoyed sentiments for the rupee, forex dealers said.
ONGC Videsh Ltd net profit for FY19 jumps 71 per cent
ONGC Videsh Ltd, the overseas investment arm of state-owned Oil and Natural Gas Corp (ONGC) , on Friday, reported a 71 per cent jump in its 2018-19 fiscal year net profit on the back of a spike in crude oil production.
Consolidated net profit in April 2018 to March 2019 period at Rs 1,682 crore was 71.4 per cent higher than Rs 981 crore net profit in the previous financial year, the company said in a statement here.
ongc-videsh
Mid session
Sensex, Nifty move up by 1%
Stocks rallied sharply in the afternoon trade on continued buying demand in index pivotals.
At 1.50 pm, the barometer index, the S&P BSE Sensex, was up 485.90 points or 1.25% at 39,297.29. The Nifty 50 index was up 136.45 points or 1.17% at 11,793.50. Telecom stocks rose. Sentiment was boosted by softening of crude oil price.
The Sensex was currently trading above the psychological 39,000 mark after moving around that levels in intraday trade.
The market breadth, indicating the overall health of the market, was strong. On the BSE, 1503 shares rose and 695 shares fell. A total of 127 shares were unchanged
Broker's call
Reliance Securities
Sagar Cements
CMP: Rs 635
Target Price Rs. 740
Sagar Cements has reported a better-than-expected performance in 4QFY19 mainly aided by higher-than-expected jump in average realisation. Consolidated EBITDA grew by a strong 59% YoY (+105% QoQ) to Rs 618 mn. EBITDA/tonne improved to Rs 654 vs. Rs 487 in 4QFY18 and Rs 327 in 3QFY19. Notably, standalone EBITDA/tonne witnessed >100% sequential improvement to Rs 593 from Rs 236 in 3QFY19. Average realisation improved by 4.9% YoY and 12.6% QoQ to Rs 3,874 mainly led by sharper realisation recovery in AP and Telangana and other southern markets. Operating cost/tonne sequentially deteriorated by 2.6% to Rs 3,221 despite 1.2% QoQ decline in input cost/tonne.
The company's consolidated net profit increased substantially to Rs 188mn from Rs 47mn in 4QFY18 and Rs 30mn in 3QFY19, while standalone net profit came in at Rs 169 mn.
Going forward, considering healthy realisation trend, consistent traction in Bayyavaram SGU and new geographies, Sagar Cements is likely to witness a healthy traction. Raising our EBITDA estimate by 8%/5% for FY20E/FY21E to factor in higher-than-expected realisation.
Strong sales volume
SGC’s consolidated sales volume grew by ~19% YoY (+3% QoQ) to 0.94mnT, which aided the company to witness revenue growth of 24% YoY and 15% QoQ to Rs 3.65 bn. A sustained demand environment in AP/Telangana, Karnataka and Odisha markets aided volume growth. Utilisation at Mattampally and Gudipadu units stood at 62% and 78%, respectively, while Bayyavaram utilisation stood at mere 62% at expanded capacity.
Sharp realisation recovery
A sharper-than-expected improvement in average realisation along with strong sales volume aided SGC to report 59% YoY growth in EBITDA to Rs 618 mn.
At CMP, the stock trades at 7.1x and 7.2x EBITDA of FY20 and FY21, respectively which appear to be attractive. We maintain our BUY recommendation on the stock with a revised Target Price of Rs740 (8x of FY20 EBITDA)
Sensex Stocks
Sensex stocks
Nifty 50 May Futures (11,789): Buy the contract with a fixed stop-loss at 11,745 level s
The domestic equity indices, the Sensex and the Nifty made a gap-up open today. After an initial decline, the benchmark indices found support and resumed the up-move. Both the indices have gained about 0.85 per cent each. The market breadth of the Nifty index is biased towards advances.
The India VIX has slumped 15 per cent to 16.4 levels
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Gracious Software will hold a meeting of the Board of Directors of the Company on May 27, 2019.
Jigyasa Infrastructure to convene board meeting on May 27, 2019
AVSL Industries to announce Quarterly Result on May 30, 2019
Cox & Kings Financial Services will hold a meeting of the Board of Directors of the Company on May 29, 2019.
Kaarya Facilities & Services to conduct board meeting On May 30, 2019
Akshar Spintex to discuss results On May 30, 2019
Shankar Lal Rampal Dye-Chem to conduct board meeting On May 29, 2019 (Source: BSE website)
Mawana Sugars spikes 20%
Mawana Sugars climbed 20% to Rs 57.95 on the BSE today. Volumes traded in the counter were 9.90 lakh shares on the BSE so far as against the average daily volume of 7,629 shares in the last one month. On the NSE, the stock gained 18.15% at Rs 57.05 on volumes of 9.65 lakh shares traded as of now.
₹342 • SBI: Buy SBI if advances above ₹350 levels
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Bank of Baroda jumps 4.50% on Q4 earnings
Bank of Baroda shares climbed Rs 5.55 or 4.35 per cent to Rs 133..50 on the NSE today. Volumes traded in the counter was 2.79 crore shares on the NSE at 11.55 am. On the BSE, the stock was up 6.55 per cent at Rs 135.75, on volumes of 20.37 lakh shares.
LIC MF G-Sec LTF surges nearly 8%
LIC Mutual Fund's LIC MF G-Sec LT LTF unit surged 7.60% to Rs 19.79 on the NSE today with heavy volumes. Volumes traded in the counter were 11,956 units, which is 7.35 times more than the 1-week average daily volume of 1,622 units.
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A bumpy ride ahead for gilt funds
Yield on the 10-year G-Sec has inched up over the past month
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Reliance Nippon Life falls after promoter offers shares at discounted floor price
hares of Reliance Nippon Life Asset Management Limited (RNAM) fell as much as 4.3 per cent on Friday, their biggest percentage loss since April 30.
The asset management company said on Thursday its promoter Reliance Capital had offered to sell 5.25 per cent stake held in the company at a floor price of Rs 218.
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Stake-sales: Reliance Cap aims to raise ₹10,000 cr by June-end
Rating agencies have gone overboard in downgrading companies, says CFO
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Reliance Nippon Life March-quarter profit rises to Rs 151 crore
For the entire 2018-19 financial year, the company’s net profit was Rs 486.09 crore, as against Rs 455.74 crore in the previous year
JMC Projects jumps to 1-year high on sealing new orders
Shares of construction services provider JMC Projects Ltd rose by approximately 12.80 per cent to Rs 133.95, its highest since May 2018.
The company recently signed residential and commercial orders worth Rs 616 crore ($88.32 mn).
Amrutanjan stock climbs 16% on results
Amrutanjan Healthcare registered volumes of 3.92 lakh shares in the first 2-hour trading session. The volumes were 19 times more than 1-week average volumes of 18,937 on the NSE. Amrutanjan's stock price surged 16% to Rs 329.05 on the NSE today on the back of good quarterly results.
AMRUTANJAN2
11.10 am
GRUH Finance stock plunge 6.50% on huge volumes
GRUH Finance Ltd clocked volumes of nearly 2.42 crore shares at 11.05 am today on the NSE, which was 18 times more than one-week average daily volume of 12.95 lakh shares. The stock declined 6.50 per cent at Rs 308.65 on the NSE today.
Ramky Infrastructure strengthens
The stock of Ramky Infrastructure zoomed Rs 16.25 or 13.20% to Rs 140.55. The Hindu Businessline had given recommendation to buy the stock at Rs 102.90 on May 10.
MIDCAP GAINERS ON NSE
NSE MIDCAP GAINERS
₹1335 • Reliance Ind: Sell RIL if it declines below ₹1,320 levels
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Broker's Intraday Calls
ICICI SECURITIES
Intraday Call from ICICI Securities
Ramco Systems profit more than doubles to ₹9 cr
Net profit for IT services firm Ramco Systems Ltd more than doubled to ₹9 crore for Q4 FY19, against ₹4 crore in Q4 FY18.
Revenue grew 20 per cent to ₹141 crore (₹118 crore).
The stock of Ramco Systems was up Rs 2.15 or 1.09%, to Rs 199.40 on the NSE today.
Heritage Foods Q4 profit up a tad at ₹20.16 crore
Heritage Foods has posted a profit of ₹20.16 crore for the fourth quarter ended March 31, 2019, as against a profit of ₹19.85 crore for the corresponding quarter of last year on a consolidated basis.
The dairy company logged in revenues of ₹635.03 crore for the fourth quarter as against ₹561.63 crore in Q4 FY18, registering a growth of 13.07 per cent.
The stock of Heritage Foods declined Rs 24.70, or 5.15%, to Rs 456 on the NSE today.
Brahmani Nara, Executive Director, Heritage Foods. File Photo
₹174 • ONGC : Sell ONGC if fails to move beyond ₹177
Rupee rises 21 paise against US dollar in early trade
The rupee appreciated by 21 paise to 69.81 against the United States (US) dollar in opening trade on Friday following the BJP’s thumping victory in the Lok Sabha polls.
Strong foreign institutional investment (FII) inflows and higher domestic equity markets also buoyed sentiments for the rupee, forex dealers said.
The rupee opened strong at 69.07 at the interbank forex market.
Broker's Call
ICICI SECURITIES
Intra-day future recommendation
Buy Nifty in the range of 11695-11712
Buy Bank Nifty in the range of 30400-30450
Buy Bank of Baroda in the range of | 128.00-129.00
Sell Vedanta in the range of | 155.00-156.00
₹288 • ITC: Sell in rallies, Outlook negative for ITC
The BSE benchmark Sensex rose over 400 points on the back of intensive buying amidst short covering from domestic investors and traders.
At 9.45 am The Sensex was at 38,962.55, up by 151.16 points from yesterday's closing level of 38,811.39.
The NSE Nifty too rose to an early high of 11,775.55, before being quoted at 11,693.05, up by 36 points.
While key sectoral indices such as Auto, Banking, Financial Services and Pharma achieved gains in a range between 0.50%-1.50%, other sectors such as FMCG, IT, Metal and Media slipped in the red in early trades.
Yesterday, the benchmark BSE Sensex crossed the psychological 40K mark and the Nifty hit the 12 K level celebrating Modi's win in the general elections.
The stock of Bharti Airtel was up 2.20%, L&T gained 2.12% at Rs 1,507, M&M, up 1.40%, Tata Motors gained 1.40% and Bajaj Finance gained 1.30% in early trading session
Sensex stocks
Day Trading Guide for May 24, 2019
Given below are supports and resistances for Nifty 50 futures and seven key stocks that can help in your intra-day trading:
₹2334 • HDFC Bank
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₹701 • Infosys : Sell the stock if reverses down from ₹709 levels
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Nifty Sectoral Indices
Pre-Open session
The BSE Benchmark Sensex rose 265 points at 39,076.25 at the pre-open sesion today.
Senex stocks
Today's Pick: KNR Constructions (₹259.9): Buy
Investors with a short-term horizon can buy the stock of KNR Constructions at current levels. The stock jumped 5 per cent accompanied by above average volume on Thursday, breaking above a key immediate resistance as well as 50-day moving average at ₹248. This rally has also altered the short-term downtrend that was in place since late March this year.
Asian shares at 4-month low on deepening US-China trade war
Japan's Nikkei average dropped 0.3 per cent. File Photo
Asian shares hobbled near four-month lows on Friday and crude oil plunged on worries the US-China trade spat was developing into a more entrenched strategic dispute between the world's two largest economies, pushing investors to safe-haven assets.
MSCI's broadest index of Asia-Pacific shares outside Japan stood flat, hovering near its fresh four-month low marked on Thursday, and was on track for a third straight weekly loss, down 0.9 per cent so far on the week. Japan's Nikkei average dropped 0.6 per cent.
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