Sensex ends 170 points higher in choppy session

Closing Bell

Stock market indices ended higher after hovering range-bound for most part of the session due to selective buying from investors amid short-covering by traders.

While market players wondered, whether or not, the market will be able to climb higher from current levels in the face of a current slowdown in the economy, the indices neglected all the bad news, gathered up steam slowly, yet steadily, and closed higher today.

Earlier, investors were a little cautious before taking any fresh commitments with a view that a couple of negative news may impact markets. The Consumer Price Index (CPI)-based inflation in October came in at sixteen months high of 4.62 per cent on higher food prices. Along with this, Moody’s Investors Service had cut India’s economic growth forecast for current year to 5.6 per cent from 5.8 per cent estimated earlier.

It is said that the GDP slowdown is lasting longer than previously expected.  Many analysts are now predicting that the current quarter's GDP numbers could be as low as 4.25 per cent.

In the midst of these, a RBI survey has sharply cut the forecast of real private final consumption expenditure (PFCE) growth, reflecting lower household demand.

The BSE benchmark Sensex ended at 40,286.48, up by 170.42 points, or 0.42% over its previous close. It closed yesterday at 40,116.06.

The NSE Nifty too was up 30.00 points and ended at 11,870.45.

ADVANCES AND DECLINES ON BSE

 

SENSEX STOCKS (at close)

SENSEX STOCKS

 

 

Coal India down 2%

Coal India (CIL) shares were down on the bourses today despite showing steady earnings numbers in the current quarter. The public sector miner reported a steady set of Q2FY20 numbers.

On the BSE, Coal India stock was down by Rs 5.15 or 2.49% to Rs 202.05, with volumes traded at 1.25 lakh shares as at 3.20 pm.

Higher-than-expected FSA realisations supported overall earnings for the September quarter. The company reported a total operating income of Rs 20,383 crore, was down 7% YoY. The EBITDA came in at Rs 3,611.2 crore. The compnay's PAT for the September quarter came in at Rs 3,523 crore, up 14% Y-o-Y

 

Aurobindo Pharma tumbles 8%

Aurobindo Pharma declined sharply on the stock exchanges today after the US drug regulator issued a 'Form 483' with 14 observations to the company's facility in Hyderabad.

Aurobindo shares slumped 8.80% to Rs 395.30 on the BSE today. Volumes jumped nearly two-fold to 6.97 lakh shares as compared to average volume of 2.61 lakh shares for the last two-week period.

The company in its filing to the BSE stated: "Pursuant to Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, this is to inform you that the United States Food and Drug Administration (US FDA) inspected Company's Unit IV, a general injectable formulation manufacturing facility situated at Pashamylaram, Hyderabad, from 4th to 13th November 2019."

It added: "At the end of the inspection, we have been issued a 'Form 483' with 14 observations. We believe that none of these observations are related to data integrity issues. The Company will respond to the US FDA within the stipulated timeline."

NIFTY INDEX (at close)

NIFTY CHART

 

SENSEX CHART

 

3.15 pm

NIFTY BANK CHART

NIFTY BANK CHART

 

3.10 pm

NIFTY AUTO CHART

NIFTY AUTO CHART

 

 

 

3.05 pm

 

 

2.55 pm

Vodafone Idea shares tumble over 21 per cent, hit record low

Shares of Vodafone Idea and Bharti Airtel tumbled up to 21.6 per cent on Thursday, amid reports that the the DoT has issued notice to telecom operators to pay their revenue share dues within three months as directed by the Supreme Court.

READ MORE

 

2.50 pm

Why Investing in Saudi Aramco’s IPO will be a pipe dream for Indian investors

 

Saudi Aramco has announced plans to go public on Sunday, November 17, in what is touted to be the world’s biggest public issue. It is expected that Aramco will become the world’s largest company by market value, well above Apple, Microsoft and Amazon.com.

READ MORE

 

2.35 pm

Moody’s cuts India’s GDP growth forecast to 5.6 per cent for 2019

 

Moody’s Investors Service on Thursday cut India’s economic growth forecast for current year to 5.6 per cent from 5.8 per cent estimated earlier. It said that the GDP slowdown is lasting longer than previously expected.

READ MORE

2.25 pm

52 WEEK LOW STOCKS ON BSE

52 WEEK LOW on BSE

 

2.20  pm

52 WEEK HIGH ON BSE

52 WEEK HIGH ON BSE

 

 

2.15 pm

 

 

2.10 pm

CARE Rating downgrades Yes Bank’s debt instruments

CARE Rating has downgraded the ratings it assigned to Yes Bank’s debt instruments, aggregating about ₹21,000 crore. The ratings continue to be on ‘credit watch with developing implications’.

READ MORE

Yes Bank is at the epicenter of rising stress in India’s credit markets.   -  Reuters

Moody’s places YES Bank ratings under review for downgrade

In fresh trouble for private sector lender YES Bank, global rating agency Moody’s, on Wednesday, placed the bank’s foreign currency issuer rating of ...

Read More  

 

2.05 pm

NIFTY SECTORAL INDICES

 

 

2 pm

NIFTY STOCKS

 

 

1.55 pm

Sensex stocks

 

1.50 pm

 

12.50 pm

Sensex stocks

 

12.30 pm

Aurobindo Pharma shares tumble nearly 9%

Aurobindo Pharma declined sharply on the stock exchanges today after the US drug regulator issued a 'Form 483' with 14 observations to the company's facility in Hyderabad.

Aurobindo shares slumped 8.86% to Rs 394.40 on the BSE today. Volumes jumped nearly two-fold to 4.52 lakh shares as compared to average volume of 2.61 lakh shares for the last two-week period.

The company in its filing to the BSE stated: "Pursuant to Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, this is to inform you that the United States Food and Drug Administration (US FDA) inspected Company's Unit IV, a general injectable formulation manufacturing facility situated at Pashamylaram, Hyderabad, from 4th to 13th November 2019."

It added: "At the end of the inspection, we have been issued a 'Form 483' with 14 observations. We believe that none of these observations are related to data integrity issues. The Company will respond to the US FDA within the stipulated timeline."

Broker's call: Aurobindo Pharma (Buy)

Centrum BrokingAurobindo Pharma (Buy)CMP: ₹603.15Target: ₹870The management of Aurobindo Pharma expects its formulations business to outpace the ...

Read More  

 

12.05 pm

Muthoot Finance surges 9% on huge volumes

Muthoot Finance shares surged on the stock exchanges today driven by huge volumes traded in the counter. On the BSE, the stock gained Rs 58 or 9% to Rs 708.50. The stock witnessed six-fold increase in volumes at 1.42 lakh shares when compared to the two-week average volume of 19,000 shares.

On the NSE, the stock rose nearly 9% to Rs 708 and volumes traded were to the tune of 33.17 lakh shares as at 12 noon.

Recently, Muthoot Finance has successfully priced a $450 million Fixed Rate Senior Secured issuance in 144A / Reg S format for a 3 year tenor at 6.125 per cent.

It said the proceeds will be used for permitted purposes including onward lending in accordance with RBI’s ECB guidelines and other applicable laws.

Muthoot Finance raises $450 mn from overseas bond markets

Muthoot Finance Ltd has successfully priced a $450 million Fixed Rate Senior Secured issuance in 144A / Reg S format for a 3 year tenor at 6.125 per ...

Read More

NBFC crisis sparks gold rush for some lenders in India

As the shake-out in India’s credit market shows few signs of abating, one group of financiers is benefiting from the turmoil: shadow banks that ...

Read More  

 

11.55 am

350 firms to declare results today

Around 350 firms will declare their quarterly results for the period ended September on Thursday. These include Apollo Hospitals, Balkrishna, Bombay Rayon, CESC, DCW, Dish TV, Future Retail, Glenmark, among others

 

11.40 am

Rupee might head towards 52-week low

Daily Rupee call report

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Rupee tumbles 62 paise to hit over two-month low of 72.09

The rupee nosedived 62 paise to hit an over two-month low of 72.09 to the US dollar on Wednesday as poor macro data and lingering worries over ...

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Rupee will witness downward pressure

The rupee seemed to face continued selling pressure and lost 0.25 per cent against the dollar on Monday. It ended the session at 71.46 versus the ...

Read More  

11.30 pm

Cholamandalam Investment sees big surge in trading volumes on BSE

Cholamandalam Investment & Finance Company Ltd saw surge volumes on the bourses with the share price gaining nearly 2 per cent today.

Volumes traded in the counter were to the extent of 21.86 lakh shares on the BSE, a 56-fold jump over two-week average daily volume of 38,000 shares. The Cholamandalam Investment was up 1.75% to Rs 302.50 on the BSE today.

Similarly on the NSE, the stock was up 1.65% to Rs 302.55 with volumes of 3.76 lakh shares trade in the counter as at 11.20 am today

It may be worthwhile to remember that Murugappa Group’s NBFC, Cholamandalam Investment and Finance Company Ltd's net profit for the quarter ended September 30, 2019, grew marginally to ₹307 crore, when compared to ₹305 crore in the year-ago quarter. Total income from operations stood at ₹2197 crore, against ₹1,676 crore, posting a growth of 31 per cent.

 

Cholamandalam posts ₹307-crore profit in Q2

Arun Alagappan elevated as Managing Director

Read More  

 

10.55 am

Day Trading Guide for November 14, 2019

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

₹1258 • HDFC Bank

Click to subscribe Portfolio

 

10.40 am

Coal India stock down 1%

Coal India (CIL) shares were down on the bourses today although the public sector miner reported a steady set of Q2FY20 numbers.

On the BSE, Coal India stock was down 1.09% to Rs 204.95, with volumes traded at 43,000 shares as at 10.40 am.

Higher-than-expected fuel supply agreement (FSA) realisations supported overall earnings for the September quarter. The company reported a total operating income of Rs 20,383 crore, was down 7% YoY. The compnay's PAT for the September quarter came in at Rs 3,523 crore, up 14% Y-o-Y.

ICICI Securities says that the company has achieved a sales volume of 122 million tonne (MT) (down approximately 11% YoY). FSA sales volume came in at 104 MT, while FSA realisations during the quarter was at Rs 1,439/tonne (up 5% QoQ, higher than our estimate of Rs 1,350/tonne).

Coal India to enter advance agreements overseas for coking coal

Coal Minister Pralhad Joshi says aim is to secure coking coal at competitive prices

Read More  

10.20 am

SPL Industries stock climbs 16%

Apparel export firm SPL Industries shares jumped 16% today on the back of strong quarterly results. In a filing to the BSE, the company reported 12.02 crore profit for the quarter ended September 2019 against Rs 5.91 crore in the corresponding quarter of previous fiscal.

On the BSE, SPL Industries stock climbed Rs 5 or 16% to Rs 36.50.

Volumes traded as of now were at 16,000 shares as compared to the two-week average quantity of 6,095.

 

 

10.05 am

Why CPI inflation will remain high for the rest of the fiscal?

The RBI may choose to pause and not cut rates in the upcoming policy, despite growth concerns.

READ MORE

Pricier foods push retail inflation to 16-month high

Core inflation in October 2019 is the lowest in the present CPI series

Read More

Moody blues for Indian economy

Ratings agencies Moody’s has revised its sovereign outlook downwards. Whatever its metrics, the fact is that the Indian economy is in a bad place

Read More  

 

9.50 am

Opening Bell

Stock market indices opened flat and fell marginally as market players were a little cautious even as the Consumer Price Index (CPI)-based inflation in October came in at sixteen months high of 4.62 per cent on higher food prices.

Also, with the factory output for September contracted, investors were sitting on the sidelines without making any fresh  commitments.

In the midst of this, a RBI survey has sharply cut the forecast of real private final consumption expenditure (PFCE) growth, reflecting lower household demand.

The BSE benchmark Sensex was quoted lower by 42.52 points  at 40,073.54.

The NSE Nifty was down 24.20 points to 11,816.25.

 

 

Factory output contracts 4.3 per cent in September to 7-year low

Negative growth in all three segments of manufacturing, mining and power generation

Read More

Pricier foods push retail inflation to 16-month high

Core inflation in October 2019 is the lowest in the present CPI series

Read More

RBI sees sharp fall in consumption

The economic slowdown seems to have gripped households, too, as the number of consumers who think they will spend less on goods and services has gone ...

Read More

9.45 am

Broker's call

ICICI SECURITIES

Derivatives Strategy

Recommendation

 

Long TCS November Future at Rs 2160-2165 and short Nifty November Future at Rs 11910-11920

Current Price Ratio (Nifty/TCS): 5.51

Target: 5.06

Stop loss: 5.76

Time Frame: Till November expiry

Rationale

TCS has exhibited continuous outperformance over the market in the last couple of months and witnessed buying support at every decline. Despite in line quarterly results, the stock was able to bounce sharply from its October lows and moved up to life-time highs within a month, outperforming the Nifty.

 

9.35 am

MedPlus to launch Rs 700 crore IPO soon

Pharmacy retailer, MedPlus, is planning to come up with an Initial Public Offer (IPO) soon. Likely to close the year with a net profit of Rs 50 crore.

READ MORE

 

9.30 am

NIFTY AUTO INDEX

Nifty Auto

 

9.25 am

 

9.20 am

 

9.10 am

Indian Hotels Company (₹155.8)

 

The stock of Indian Hotels Company jumped 6.4 per cent accompanied by above average volume on Wednesday, breaching an immediate resistance at ₹153. Investors with a short-term horizon can buy the stock at current levels.

READ MORE

Indian Hotels shares rally over 6% on Q2 net profit

Shares of Indian Hotels Company on Wednesday climbed over 6 per cent after it reported a consolidated net profit of Rs 69.30 crore for the second ...

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Indian Hotels eyes ₹200 cr from property sales this fiscal; to buy stressed assets under GIC platform

Tata Group’s Indian Hotels Company Ltd (IHCL) is planning to sell assets worth ₹200 crore this fiscal to fund its expansion plan in core areas. Last ...

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9.05 am

1.76 lakh small investors acquired IRCTC shares in IPO

 

Indian Railway Catering and Tourism Corporation has disclosed its pre-listing shareholding pattern (dated October 11). The stock was listed on October 14.

While the promoter holding stands at 87.40 per cent, the public controls 12.60 per cent.

READ MORE

IRCTC zooms past Rs 700 on stock market debut

Shares of IRCTC made a stellar debut at the stock exchanges on Monday following its highly successful IPO.While on the NSE, it opened at Rs 626, on ...

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In a first, IRCTC to pay compensation for Tejas Express running late

IRTC is set to pay nearly Rs 1.62 lakh as compensation to its customers for three hour delay

Read More

Post-listing, who are the public shareholders of IRCTC?

Shareholding patterns are crucial when making investment decisions

Read More  

9 am

Stocks in cautious ranges ahead of China data, trade talk hopes fade

 

Asian stocks clung to tight ranges on Thursday as investors awaited key Chinese data for clues on how much the 16-month trade war between Beijing and Washington has hit growth in the world's second-largest economy.

READ MORE

Japan's Nikkei shed 0.61 per cent. File Photo   -  Bloomberg

 

Published on November 14, 2019