Market Live!: Sensex closes flat; IndusInd Bank, YES Bank rally

Deep Ind climbs 9%; Arvind Fashions hits upper circuit

Closing Bell

Equity indices ended flat shedding gains  made initially following mixed movement in largecap stocks.

After opening at 37,840.64, the Sensex ranged between a high of 37,904.08 and a low of 37,693.69 before finally settling at 37,754.89, just up by 2.72 points.

The NSE Nifty too edged up by 1.55 points and closed at 11,343.25.

Major gainers today were NTPC, which rose 3.53% at Rs 153.80, IndusInd Bank was up 2.85% at Rs 1,682.80, Sun Pharma rose 2.40% at Rs 467.10 and YES Bank was up 2.25% at Rs 249.85, while moderate sell-off was seen in other the key counters such as Hero MotoCorp, HCL Tech, ICICI Bank, Tata Motors, Bajaj Finance, and SBI, which fell between 0.50% and 2%.

 

3.30 pm

 

LARGECAP stocks on BSE

Largecap stocks on BSE

 

 

3.20 pm

NIFTY BANK STOCKS

Nifty Bank stocks

 

3.10 pm

NIFTY MIDCAP STOCKS

NIFTY MIDCAP STOCKS

 

2.30 pm

PRICE BAND HITS ON NSE

PRICE BAND HITS on NSE

 

2.25 pm

Jubilant Foodworks trade higher on new brand launch

Jubilant Foodworks stock was trading higher by Rs 7.10 or 0.55% at Rs 1,332.75 on the NSE today. On the NSE, volumes traded on the counter were 31.12 lakh shares as of now.

The company announced the launch of its first own brand ‘Hong's Kitchen'. The latest venture marks JFL's entry into the Chinese cuisine segment, a large and fast growing segment in the Indian market. Hong's Kitchen has opened its first restaurant in Eros mall, Gurugram.

 

 

2.10 pm

February WPI inflation accelerates to 2.93 per cent YOY : Centre

Inflation based on wholesale prices rose to 2.93 per cent in February over the previous month due to hardening of prices of primary articles, fuel and power, according to government data released Thursday.

The Wholesale Price Index (WPI) based inflation stood at 2.76 per cent in January, 2019.

WPI inflation stood at 2.74 per cent during February 2018.

India said the calculations of MSP made by the US and Canada were incorrect and stressed that its price support programme for pulses was only to ensure nutrition supply for 195 million poor people.   -  Dhiraj Singh;Dhiraj Singh

 

 

1.50 pm

Nifty 50 March Futures (11,362): Go short on a decisive fall below 11,345 levels

After a positive start, the Sensex and the Nifty have begun to witness selling pressure and have entered negative territory. The Asian markets are on a fall following a positive start. The Nikkei 225 is hovering flat at 21,287 levels and similarly Hang Seng index is poised at 28,787 levels.

The market breadth of the Nifty index is evenly balanced between advances and declines. The Nifty March month contract commenced the session at 11,367 and subsequently recorded an intra-day high at 11,399.

READ MORE

Nifty Call: The contract is range-bound; Tread with caution

Nifty 50 March Futures (11,327)The domestic equity indices — the Sensex and the Nifty — began the session on a flat note, taking negative cues from ...

Read More  

 

1.45 pm

Broker's call

 

JM FINANCIAL SERVICES

 

Voltas: Buy for a target price of Rs 625

 

Company Update                  

 

The key takeaways of the Voltas business are a) Southern India (mainly Kerala) saw a healthy pick up in primary volumes, thus easing off inventory concerns to some extent, but secondary volumes are yet to improve, b) unable to pass through price hikes as competitive intensity remains high;

The report maintained UCP segment margins guidance at 11% for FY19 (vs 14.7% in FY18), implying a 500 bps drop in Q42019, c) Voltbek JV inventory build-up was slow due to an adverse movement in USD/INR rate, but most large centres with high churn rate are now covered; to focus on setting up exclusive outlets in tier-2/3 towns through franchise route,

The JMFL report also says that EMP segment order inflows to see a temporary lull in domestic market due to elections as nearly 2/3rd of order book is through government funded projects and e) local manufacturing plants of compressor manufacturers and new unit at Tirupati is likely to reduce imports over next 2-3 years.

 

The JMFL report maintains BUY with a targe price of Rs 625.

 

Voltas to invest ₹500 crore on new facility in Tirupati

 Voltas Ltd, a Tata Group company, will invest over ₹500 crore in a new manufacturing facility at Tirupati to manufacture and assemble air ...

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Voltas eyes 20 per cent of home appliances market pie by 2025

The largest player in the AC segment, is also investing over Rs 500 crore to set up a manufacturing facility at Tirupati in Andhra Pradesh

Read More  

1.35 pm

PRICE BAND HITS ON NSE

NSE PRICE BAND HITTERS

 

1.25 pm

Anup Engineering jumps nearly 4%

 

The demerged entity of Arvind, The Anup Engineering, which wasl listed on the exchange quite recently surged nearly 4% to Rs 655 on the NSE today.

On the NSE, the stock was quoted at Rs 655 with volumes of 1.49,883 as of now.

Last year, Arvind had demerged its branded retail and small engineering businesses into three different entities — Arvind, Arvind Fashions and Anup Engineering.

 

Arvind’s demerged arm Anup Engg listing today

The demerged entity of Arvind, Anup Engineering, will list on the exchange on Friday. Last year, Arvind had demerged its branded retail and small ...

Read More

 

Arvind arm Anup Engineering to delist from Ahmedabad SE

Delisting offer sees highest bids for ₹11,000 against floor price of ₹1,550/share

Read More  

1.20 pm

Sun Pharma in good nick; up 2.30%

 

Sun Pharma shares jumped 2.30% higher on the NSE today. As of now, volumes traded in the counter were 45.50 lakh shares on the NSE. The company reported four-fold jump in consolidated net profit at Rs 1,241.85 crore  for the quarter ended December 31, 2018.

Sun Pharma Q3 net zooms nearly four fold to Rs 1,241.85 cr

 Drug major Sun Pharmaceutical Industries on Tuesday reported a nearly four-fold jump in its consolidated net profit at Rs 1,241.85 crore for the ...

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Sun Pharma responds to SEBI queries; posts ₹1,242-cr Q3 profit

Sun Pharmaceutical Industries Ltd has responded to a couple of queries from the Securities and Exchange Board of India (SEBI), the drugmaker’s ...

Read More  

1 pm

DEEP IND shares climb 10% on ONGC contract

BSE SMALLCAP STOCKS

BSE SMALLCAP STOCKS

Deep Industries shares climbed over 10 per cent on the BSE after the company said in its release to the BSE that it has received a second contract from ONGC Ltd, for charter hiring of 01 No. of 1000 HP Mobile Drilling Rig for Ahmedabad Asset for a period of 3 years. The total estimated value of the said award is approximately Rs 91.75 crores.

 

Deep Industries Ltd. - Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order

Please find attached herewith announcement in respect of award of Contract and Press release. Pdf Link: Deep Industries Ltd. - Announcement under ...

Read More  

12.55 pm

Largecap stocks on BSE

 

12.30 pm

Go long in SBI if reverses higher from ₹286 levels

₹292 • SBI

COMMENT

Initiate fresh long positions with a fixed stop-loss if the sock of SBI reverses higher from ₹286 levels

 

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SBI’s doorstep banking service

State Bank of India (SBI) has launched doorstep banking service for senior citizens over 70 years of age and differently-abled customers . Eligible ...

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How does SBI’s move to link savings deposit and short term loan rates to repo rate impact you?

It was about two years ago that SBI made the first move and cut savings deposits rate by a tidy 50 basis points. With other banks having followed ...

Read More  

12.20 pm

Aban Offshore shares slid 5%

 

Aban Offshore shares were down nearly 5 per cent today on the NSE.

Aban Offshore stock was quoted lower by 4.98% at Rs 69.60. On the NSE, as of now volume traded in the counter were 52,639 shares.

Aban Offshore in the limelight

A break above ₹75 will strengthen the uptrend and take the stock up to ₹100

Read More

Aban Offshore bags order to deploy 2 jack-up rings from ONGC

Aban Offshore on Thursday said that a letter of award has been received for the deployment of jack-up rigs Aban-III and Aban-IV from ONGC for a firm ...

Read More

Company news: Aban Offshore

A letter of award has been received for offshore deployment of jack-up rig Aban VIII in Malaysia, by Aban Offshore’s step-down subsidiary for a period ...

Read More

 

12.10 pm

Premji commits additional 34% stake worth $7.5 b for philanthropy

Wipro Chairman Azim Premji has committed to philanthropy an additional 34 per cent stake in Wipro Ltd belonging to him and valued at ₹52,750 crore ($7.5 billion).

The new commitment is in addition to the 33 per cent Premji had already earmarked for the Azim Premji Foundation, taking the total market value of the philanthropic endowment corpus to ₹1,45,000 crore ($21 billion).

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Back of the envelope calculations show the shares worth Rs. 500 crore were sold at Rs. 256.58 apiece PV SIVAKUMAR

 

 

12.05 pm

Arvind Fashions hits upper band

 

Arvind Fashions stock hit the upper circuit today. The stock gained 5% or Rs 35.90 at Rs 754.10 on the NSE today. On the NSE, Volumes traded in the counter were 2,934 shares as of now.

 

Arvind Fashions to debut today on bourses

 After Anup Engineering, another demerged entity from Arvind — Arvind Fashions — will debut on the bourses on Friday. Arvind had allotted one fully ...

Read More

Arvind’s demerged arm Anup Engg listing today

The demerged entity of Arvind, Anup Engineering, will list on the exchange on Friday. Last year, Arvind had demerged its branded retail and small ...

Read More

Arvind shares to turn ex-date for demerger

 Shares of Arvind will remain in focus on Tuesday, as they will turn ex-date for the proposed demerger of the branded apparel and engineering ...

Read More  

 

12 Noon

LARGECAP STOCKS ON BSE

 

11.55 am

Buy Reliance Ind in dips with stop loss at ₹1,330 levels

 

₹1346 • Reliance Ind.

COMMENT:

As long as the stock trades above ₹1,330 levels, the near-term stance will remain positive. Buy in dips

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Reliance Jio could lose $2.1 billion this fiscal year : Bernstein

Vodafone Idea will probably post a net loss of Rs 32 billion for the year ending March

Read More  

Oil regulator hikes tariff of pipeline transporting Reliance gas by 37%, half of sought

Oil regulator PNGRB has approved a 37 per cent rise in tariff from April 1 for the pipeline that transports Reliance Industries’ eastern offshore ...

Read More

 

 

11.45 am

Broker's call

 

ICICI SECURITIES

 

Derivatives Strategy - Positional Future

 

Buy IndusInd Bank March Futures at Rs 1612-1622

 

Target: Rs 1795

 

Stop loss: Rs 1510

 

Time Frame: Till March Expiry

 

Rationale:

IndusInd Bank has been trying to form a base at Rs 1,550-1,600 levels since November 2018. The surge in volumes near these levels is an indication of increasing buying interest after the correction of more than 30% from the highs of Rs 2,000.

The open interest in the stock has increased by 25% since the start of the current series after the last few months of consolidation.

The stock is witnessing addition of fresh long positions, which should push it higher, according to ICICI Securities.

 

IndusInd Bank hits over one-month low

Shares of IndusInd Bank Ltd fall as much as 2.42 per cent to ₹1,478.55. This has been the lowest since December 11, 2018.The bank’s stock broke below ...

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Broker's call: IndusInd Bank (Buy)

Prabhudas LilladherIndusInd Bank (Buy)CMP: ₹1,566.45Target: ₹1,765Quick pointers: a) Bank has created another ₹250 crore of contingent provisions ...

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IndusInd Bank net profit rises to ₹985 crore in Q3

Bank’s exposure to debt-laden IL&FS dents profitability

Read More  

 

11.40 am

CPSE-ETF’s 4th tranche set to hit market next week

The Centre is all set to launch the fourth tranche of further fund offer (FFO) of Central Public Sector Enterprises Exchange-Traded Fund (CPSE-ETF) next week, after the strong response for its earlier stake-sale.

Reliance Nippon Life Asset Management has filed Supplement To Scheme Information Document paper with SEBI for CPSE-ETF FFO-4.

READ MORE

 

11.35 am

NIFTY AUTO STOCKS

NIFTY AUTO STOCKS

 

11.30 am

Intra-day Futures recommendation from ICICI DIRECT:

 

* Buy Bank Nifty in the range of 28650-28700

 

* Buy Mahanagar Gas in the range of | 918.50-919.50

 

* Sell Lupin in the range of | 772.00-773.00

 

11.20 am

Broker's call: Gujarat Gas (Buy)

Elara Capital

Gujarat Gas (Buy)

CMP: ₹153.35

Target: ₹180

Our analysis shows strong demand for industrial piped natural gas (PNG) for Gujarat Gas is imminent, given increased competitiveness of liquefied natural gas (LNG) over fuel oil (FO) & imported coal and regulatory push by the recent National Green Tribunal (NGT) order to shut coal gasifiers used by Morbi’s ceramic tiles manufacturers and switch to NG. The company had posted sales volume growth of 14 per cent y-o-y in FY15.

READ MORE

 

Representational image.   -  istock.com/stephenmccluskey81

 

Court allows Gujarat Gas to lay CGD network in Ahmedabad

Adani Gas petition dismissed

Read More  

 

11 am

Bluechip stocks such as Hero MotoCorp, HCL Tech, Bajaj Finance, Tata Motors and M&M declined between 0.50% and 2%, while  YES Bank, IndusInd Bank, Axis Bank and Coal India rose between 1% and 2.50%

 

10.55 am

NSE Nifty breaks resistance at 11,346, may test 11,521 level

NSE index Nifty 50 gained as much as 0.37 per cent and broken above a key resistance at 11,345.86 points.

Resistance at 11,345.86 points is identified as the 76.4 per cent Fibonacci retracement level of the downtrend from August 28 high to October 26 low (wave (4)

A close above the 76.4 per cent level may lead to further rise up to 11,521.43 points, the 86.4 per cent retracement level.

 

READ MORE

 

 

 

10.30 am

NIFTY STOCKS

NIFTY STOCKS

 

10.30 am

Markets gave up the gains that made initially following moderate sell-off in some of the key counters such as Hero MotoCorp, HCL Tech, Bajaj Finance, Tata Motors and M&M declined between 0.50% and 2%, while YES Bank, IndusInd Bank, Axis Bank and Coal India  scored gains between 1% and 3%.

After opening at 37,840.64, the Sensex rose to a high of 37,904.08 before being at 37,740.23, down 11.94 points.

While, the NSE Nifty too was down by 4.95 points at 11,336.75.

 

 

10.20 am

 

 

10.15 am

Go long in TCS if rebounds from ₹1,980 levels

 

₹2001 • TCS

 

COMMENT

 

Consider initiating fresh long positions with a tight stop-loss if the stock rebounds up from ₹1,980 levels

 

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Weekly trading guide

SBI (295.2) After inching higher for five consecutive weeks, SBI reversed lower last week. The stock made an intra-week high of ₹306.4 and came-off ...

Read More

 

TCS' margin slipped 90 bps Q-o-Q due to a talent crunch in the US.   -  Reuters

 

10.10 am

Intraday Calls from ICICI Securities

Intraday Calls (Feb 14)

 

 

10 am

Buy Nifty 50 Futures if moves above 11,320

11366 • Nifty 50 Futures:

COMMENT

Fresh long positions can be initiated with a fixed stop-loss if the contract reverses higher from 11,320 levels

 

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9.55 am

TOP MIDCAP GAINERS ON BSE

TOP MIDCAP GAINERS ON BSE

 

 

 

9.50 am

eClerx Services to consider buyback

The board of eClerx Services will meet on Thursday to consider a buyback proposal of equity shares of the company. Investors would be keen to know the buyback size and the offer price.

Shares of eClerx Services were up by 0.70% or Rs 7.60 at Rs 1,109.15 on the NSE today.

 

eclerx

 

eClerx Services: Weak numbers

The stock price of business process management firm, eClerx Services, has fallen by over 12 per cent in the last month.After the company’s June ...

Read More

eClerx buyback offer opens today

The ₹258-crore buyback offer of eClerx Services opens on Thursday and ends on March 8. The company plans to buy back 12.90 lakh shares at a maximum ...

Read More

eClerx Services rallies 16% as board okays share buyback

Shares of software services provider eClerx Services rallied as much as 16 per cent to Rs 1,589.55 on Friday as the company has got the board approval ...

Read More  

9.45 am

BSE SECTORAL INDICES

BSE SECTORAL INDICES

 

 

9.40 am

Broker's call: KEC International (Buy)

Reliance Securities

KEC International (Buy)

CMP: ₹294.5

Target: ₹383

KEC International Ltd is engaged in the construction of utility projects. Its geographical segments include India and outside India. Its power transmission and distribution business includes providing end-to-end solutions in power transmission and distribution. Its cables service offerings include extra-high voltage (EHV) cabling solutions provided through cable selection and cabling system, and manufacturing of a range of power (high tension and EHV cables), control, telecommunication and instrumentation cables

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Achieving 24x7 power for all depends on the creation of a robust cost-effective transmission network S Thanthoni

 

 

9.20 am

Opening Bell

The benchmark BSE Sensex rose 152 points higher in the opening trading session today.

After opening at 37,840.64, the Sensex rose further to a high of 37,904.08 before being at 37,885.06.

The NSE Nifty too rose 36.20 points, or 0.32 per cent, at 11,377.90.

 

 

9.15 am

Oil edges higher, holds near 4-month top on supply cuts

Oil prices nudged higher on Thursday to sit just off a four-month high reached in the previous session as investors focused on global production cuts and supply disruptions in Venezuela.

 

READ MORE

 

 

9.10 am

Asian shares flat after mixed China data, pound near 9-month peak

Asian shares barely budged on Thursday as investors reacted cautiously to mixed data from China, while the pound hovered near nine-month highs as the risk of a no-deal Brexit receded following a late-night vote.

READ MORE

 

 

9.05 am

Day Trading Guide for March 14

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

₹2226 • HDFC Bank

 

S1S2R1R2COMMENT
2210219522352250Witnessing buying interest, the stock surged 2.6 per cent with good volume last session. Buy in declines

 

₹709 • Infosys

 

S1S2R1R2COMMENT
700690718728Fresh long positions are recommended with a stiff stop-loss only if the stock rallies above ₹718 levels

 

 

9 am

Allcargo Logistics (₹112.3): Buy

Investors with a short-term perspective can buy the stock of Allcargo Logistics at current levels. Since taking support at ₹92 in last October, the stock has been in a medium-term sideways consolidation phase in the band between ₹92 and ₹113. Within this sideways movement, the stock is in a near-term uptrend.

READ MORE

 

Published on March 14, 2019