Closing Bell
Domestic equity benchmark BSE Sensex jumped over 280 points and the Nifty rose 93 points in the last two-hour trading session on Friday, driven by the gains in IT, banking. energy, FMCG and auto stocks, amid positive domestic and global cues.
After opening higher of 37,175.86, the 30-share index traded in a narrow band for most part of the day. Later, some sudden spurt in buying has bolstered the equities. The Sensex ended higher by 280.71 points, or 0.76%, at 37,384.99, while the broader Nifty rose 93.10 points, or 0.85 per cent, to 11,075.90.
Top gainers today included BPCL, IOC, Titan, GAIL, Vedanta, ONGC, Hindalco, ICICI Bank, Infosys, SBI, Axis Bank, and HeroMotoCorp, rising between 1 per cent and 6 per cent.
On the other hand, IndiaBulls, Sun Pharma, Dr Reddy's Bharti Airtel, HDFC Bank and ITC fell between 0.65-2.50 per cent.
Besides positive cues from global markets, domestic benchmarks rose amid hopes of another rate cut by the Reserve Bank of India.
Driven by costlier food items, retail inflation inched up to 10-month high of 3.21 per cent in August but remained within the RBI’s comfort level and may prompt the central bank for one more round of rate cut as another set of government data revealed industrial production growth slowed to 4.3 per cent in July.
Malu Paper, Maan Aluminium top losers on BSE
Malu Paper Mills Ltd, Asian Hotels (West) Ltd, and Maan Aluminium Ltd are among the other losers in the BSE's 'B' group today,
Malu Paper Mills Ltd lost 9.92% to Rs 28.15. The stock was a big loser in 'B' group. On the BSE, around 31,000 shares were traded on the counter so far as against the two-week average volumes of around 22,000 shares.
Asian Hotels (West) Ltd crashed 9.88% or Rs 32 to Rs 292. On the BSE, 100 shares were traded on the counter so far as against the two-week average quantity of 60 shares.
Maan Aluminium Ltd dropped 7% to Rs 72.85. On the BSE, 1,524 shares were traded on the counter so far as against the two-week average quantity of 2,756 shares traded in the counter
Altico Capital defaults on payments
Altico Capital India Ltd, on Thursday, said that it has defaulted on interest payment of ₹19.97 crore on the external commercial borrowing (ECB) it had raised from Mashreqbank.
The non-banking finance company, in a stock exchange notice, said the interest default occurred on the gross principal amount of ₹340 crore. The ECB has a six years tenure and carries 11.65 per cent interest rate.
Rupee rises 23 paise to 70.91 against dollar
The Indian rupee appreciated by 23 paise to 70.91 against the US dollar on Friday as easing trade tensions between US and China strengthened investor sentiments.
A Recap on last week's Index analysis
Index Outlook: Indices rebound from a significant base
The key bellwether indices will remain choppy and look for direction from the global markets.
Slowdown blues: Weak demand forces JSW Steel to focus on exports
JSW Steel is looking outward as the slowest economic expansion in six years cuts demand in the South Asian country and puts pressure on margins.
Tatas worried about AirAsia India growth; unlikely to bid for AI
Tata Sons is unlikely to bid for Air India as it believes that it will not add any heft to its airline business. Sources close to the salt-to-steel conglomerate told BusinessLine that there is still no clarity on the huge debt pile that Air India is burdened with
ADVANCES and DECLINES ON NSE
ETF Performance on BSE
Positional Call from ICICI SECURITIES
Will RBI be YES Bank’s white knight?
With a decline in YES Bank’s income and the risk of rising NPAs, the RBI may soon have to facilitate a merger or acquisition
Astral Poly Technik to turn ex-bonus
Shares of Astral Poly Technik will turn ex-bonus on Monday. The company is rewarding its shareholders with one bonus share for every four shares held.
10996 • Nifty 50 Futures: Sell Nifty i f the contract declines below 10,950 levels
S1 |
S2 |
R1 |
R2 |
COMMENT |
10950 |
10900 |
11050 |
11100 |
Consider initiating fresh short positions with a tight stop-loss only if the contract declines below 10,950 levels |
₹2133 • TCS : Buy TCS if stock rebounds up from ₹2,110 level
S1 |
S2 |
R1 |
R2 |
COMMENT |
2110 |
2090 |
2152 |
2175 |
Initiate fresh long positions with a stiff stop-loss only if the stock of TCS rebounds up from ₹2,110 levels |
11.15 am
ToT highway project: ICICI Bank takes over Rs. 2,000-crore debt-financing from YES Bank
ICICI Bank has taken a bite of the debt funding for India’s first Toll-Operate and Transfer (ToT) highway project by taking over about Rs. 2,000 crore from the original lender YES Bank Ltd in a move that is likely to give a much-needed push and confidence among lenders
Bhushan Power: JSW Steel to move NCLAT on Sept 13
JSW Steel will move the National Company Law Appellate Tribunal (NCLAT) on Friday to seek immunity from the ongoing criminal fraud cases against Bhushan Power and Steel Ltd (BPSL).
Intraday call:
₹286 • SBI : Buy SBI if the stock rallies above ₹292 levels
S1 |
S2 |
R1 |
R2 |
COMMENT |
280 |
274 |
292 |
300 |
Consider initiating fresh long positions with a fixed stop-loss only if the stock of SBI rallies above ₹292 levels |
₹1210 • Reliance Ind.
S1 |
S2 |
R1 |
R2 |
COMMENT |
| 1195 | 1180 | 1125 | 1140 |
Fresh short positions can be initiated with a tight stop-loss only if the stock declines below ₹1,195 levels |
Broker''s call: ICICI SECURITIES
Derivatives View (September 13) on Nifty and Bank Nifty futures
Buy Nifty in range of 10953-10972; Buy Bank Nifty in range of 28000-28050
Nifty Futures
T he Nifty snapped its five-day winning streak and ended with a loss of around 50 points. In the last half an hour, intense selling was seen in industry heavyweights, which led the index to drift lower to 11000.
If the Nifty is unable to hold 10900, which also commands significant OI, then more downside can be seen in coming days. Nifty futures ended at a premium of 14 point with a fall in IVs by 3.15%. The highest Put base is at 10800 strike with almost 28 lakh shares while the highest Call base is at the 11000 strike with 22 lakh shares.
Broker's call: ICICI Securities
Bank Nifty Futures
Buy Bank Nifty in range of 28000-28050
The Bank Nifty faced difficulty above 28000 as Call writing continued in OTM strikes. Apart from HDFC Bank, most private and PSU banks turned negative. Looking at the weekly options data, OI additions were seen in ATM and OTM Call strikes. we feel a move above 28000 once again may bring round of short covering. This is likely to keep the index move in check.
Underperformers on BSE in last one month
Source: capitalmarket
TOP PERFORMERS ON BSE during last one month
Source: capitalmarket
10996 • Nifty 50 Futures
S1 | S2 | R1 | R2 |
COMMENT |
| 10950 | 10900 | 11050 | 11100 | Consider initiating fresh short positions with a tight stop-loss only if the contract declines below 10,950 levels |
Broker's call: Tata Motors (Neutral)
Motilal Oswal
Tata Motors (Neutral)
CMP: ₹127.95
Target: ₹146
Tata Motors FY19 annual report analysis highlighted a weak operating performance. EBITDA declined about 16 per cent y-o-y to ₹25,600 crore, despite a) continued capitalisation of product development expenditure by ₹16,900 crore (80 per cent of cash spent); and b) lower pension cost recognized in P&L (at ₹1,400 crore) than cash paid to the pension fund (₹2,400 crore).
Sensex, Nifty stay flat in choppy move
Indian equities opened marginally higher and moved back and forth in the first half-an-hour trading session. An announcement on interest rates by the Fed and developments in US China trade talks are expected to remain key monitorables ahead.
At 9.50 am, the BSE Sensex was at 37,115.67, up 12 points. The barometer touched an early high of 37,244.34 and a low of 37,029.52
Similarly, the Nifty, on the NSE, was at 10,981.25, down by 1.55 points from its previous close.
SBI Life Insurance stock trade firm as OFS opens today
The stock of SBI Life was trading firm at Rs 794, up by Rs 1.15 on the NSE today even as SBI proposes to sell up to 3.5 crore shares of SBI Life Insurance Company on Thursday (for non-retail investors only) and Friday (for retail investors and non-retail investors who choose to carry forward their unallotted bids) through the offer-for-sale window on the stock exchanges.
SBI has decided to offload 4.5 per cent in SBI Life Insurance for about Rs 3,515 crore at 1.4% over the floor price fixed for the offer for sale. Retail investors can participate in the OFS today.
The floor price for the sale has been fixed at ₹770 a share.
Day Trading Guide for September 13, 2019
Given below are supports and resistances for Nifty 50 futures and seven key stocks that can help in your intra-day trading:
₹240 • ITC
S1 | S2 | R1 | R2 | COMMENT |
237 | 234 | 243 | 246 | The stock witnesses selling pressure at higher levels. Go short with a fixed stop-loss on a fall below ₹237 levels |
Given below are supports and resistances for Nifty 50 futures and seven key stocks that can help in your intra-day trading:
₹2270 • HDFC Bank
S1 | S2 | R1 | R2 | COMMENT |
2255 | 2240 | 2285 | 2300 | Make use of intra-day declines to buy the stock while maintaining a tight stop-loss at ₹2,255 levels |
₹816 • Infosys
S1 | S2 | R1 | R2 | COMMENT |
810 | 804 | 822 | 830 | Fresh long positions are recommended with a fixed stop-loss only if the stock advances above ₹822 levels |
Trade optimism pressures yen but caution prevails ahead of Fed, BOJ meets
The yen was pinned near a six-week low versus the dollar as signs the United States and China were narrowing their differences over trade ahead of key talks decreased demand for safe haven assets.
Asian shares advance on US-China trade progress, ECB easing
Asian stocks advanced on Friday as hints of progress in US-China trade talks and aggressive stimulus from the European Central Bank helped counter worries about a global economic slowdown.
MSCI's broadest index of Asia-Pacific shares outside Japan ticked up 0.3 per cent though mainland China and South Korea were closed for public holidays. Japan's Nikkei rose 1.0 per cent to four-month highs.
Sun Pharmaceutical Industries promoter revokes more pledged shares
One of the promoters of Sun Pharmaceutical Industries further revoked its pledged shares. In a disclosure to the stock exchanges, the company said Shanghvi Finance, one of its promoter group entities, has released 66.80 lakh equity shares pledged with Kotak Mahindra Prime on September 5
Today's Pick: Castrol India (₹129.2): Buy
The stock of Castrol India gained 3.6 per cent accompanied by above average volume on Thursday, breaking above a key resistance at ₹125. Investors with a short-term perspective can buy the stock at current levels