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Closing Bell
The BSE Benchmark Sensex ended slightly higher today after trading in the negative terrain for most part of today's trading session. Heavyweights were mixed in their movements.
During intraday, the Sensex swung between a high of 40,417.44 and a low of 40,150.97, in a 267-point range, before settling at 40,345.08, up by 21.47 points over previous close.
Markets were subdued during the day taking cues from weak Asian peers amid Moody's ratings report on the outlook of economy.
Similarly the Nifty, on the NSE, ended at 11,912.95, up by 4.80 points over its previous close. The Nifty ranged between an intraday high of 11,932.65 and a low of 11,853.95.
Among the top gainers were YES Bank, Tata Motors, ICICI Bank, IndusInd Bank, Axis Bank, Kotak Bank and Tata Steel, and SBI, which rose between 0-75 per cent and 6 per cent, while stocks that dragged the markets were Hero MotoCorp, Vedanta, TCS, Reliance Asian Paint and Maruti which fell between 1 per cent and 2 per cent.
Sensex stocks
BSE MIDCAP STOCKS
Sensex stocks
Sensex stocks
Swiss Glascoat Equipments hit 20% upper circuit as quarterly profit doubled
Swiss Glascoat Equipments hit 20% upper circuit today on the BSE after its profit more than doubled for the quarter ended September 30, 2019.
The stock locked in upper circuit having gained Rs 48.75 or 20% to Rs 292.65 on the BSE.
In a notification to the BSE, Swiss Glascoat said it has achieved a net profit of Rs 308.23 crore the quarter ended September 2019 as against a net profit of Rs 143.74 shown in the corresponding quarter of previous fiscal
SENSEX STOCKS
Sensex stocks
Broker's call
Geojit Financial Services
Stock: Exide Industries Ltd
Rating: Accumulate
CMP: Rs.191
Target Price: Rs.209
EIL’s Q2FY20 revenue de-grew by -4% YoY owing to negative 2W industry (86% market share) growth of -17%. However strong sales from the aftermarket batteries and home invertor offset further decline.
EBITDA margin has improved by 160bps due to softening of lead price by -3.3YoY. Adjusted PAT grew by 46% YoY.
EIL is focusing on cost control initiatives and technological upgradation to improve the bottomline.
Geojit remains positive on the long term outlook of EIL owing to higher acceptance of battery engineering and Exide’s foray into 3W manufacturing.
Geojit upgraded its rating to Accumulate from Hold with a revised target price of Rs 209.
NIFTY AUTO CHART
NTPC gains on better quarterly numbers
NTPC shares were up today on the bourses following a sharp increase in its quarterly earnings for the period September 30, 2019. The stock gained by Rs 2.75 or 2.50% to Rs 120.10 on the BSE. Volumes traded were in the tune of 4.80 lakh shares as at 12.30 pm.
NTPC has reported a whopping 36% YoY growth in its consolidated profit for 2QFY20, driven by lower tax cost, higher operating and other income. Consolidated profit increased to Rs 3,400.8 crore during the quarter, compared to Rs 2493.86 crore in 2QFY19.
Laurus Labs shares up on USFDA observations on Visakhapatnam unit
Laurus Labs shares went up today on the bourses after the company release said that it has received two observations from U.S. Food and Drug Administration for its FDF & API Integrated Facility, Unit 2 at Visakhapatnam.
Mutual funds' asset base increased to INR 26.33 lakh crore in October-end, a rise of 7.4% as compared with the preceding month, on the back of robust inflows in equity and liquid schemes.
As per AMFI data, the net equity mutual fund inflow in October declined to INR 6,015 crore, down 7.3% from INR 6,489 crore in the previous month. (ETF) inflow remained strong at INR 5,906.1 crore, nearly six times more than INR 1,033 crore recorded in September. (SIP) in equity remained steady at INR 8,245 crore in October against INR 8,263 crore the previous month.
The liquid funds in income/debt oriented schemes were back in action and saw inflow at INR 93,203 crore in October against an outflow of INR 1.4 lakh crore in September. Hybrid schemes, the balanced hybrid fund/aggressive hybrid fund continued to see outflow in October also, at INR 1,974.3 crore. The previous month has seen outflows at INR 1,931 crore.
Results on November 11
Following companies will announce quarterly results during the day.
Britannia Industries, Coal India, Hindalco Industries, Aban Offshore, Adani Ports, India Cements, Alkem Laboratories, Atul Auto, Balmer Lawrie, Balrampur Chini Mills, Dhampur Sugar Mills, Bombay Dyeing, Hindustan Aeronautics, Mahanagar Gas, Motherson Sumi Systems, NDTV, Omax Autos, Rolta and SJVN.
Advances/Declines on BSE
Bank of Baroda up 3.50% on Q2 earnings
Bank of Baroda shares rallied today on the back of significant improvement in its quarterly profit in the second quarter ended September 2019.
The stock rose 3.57% to Rs 97.15 on the NSE today with volumes of 2.28 crores shares as at 11 am today.
On the BSE, the stock was up by Rs 3.55 or 3.78% to Rs 97.35. The total traded quantity of shares traded was 16.63 lakh shares.
Bank of Baroda's quarterly profit jumped 73.2% year-on-year to Rs 736.7 crore despite sharp increase in provisions. The growth was driven by other income, NII and pre-provision operating profit. Net interest income in 2QFY20 grew by 56.4% year-on-year to Rs 7,028 crore, with credit and deposits growth of 47% each YoY.
Related Stories
Bank of Baroda Q2: Weak core performance and higher slippages suggest pain in the coming quarters
Asian Paints becomes most expensive stock on BSE
Surrounded by all the doom and gloom around the consumer sector, a paint producer got so much love from investors that it is now the most expensive stock in the country’s benchmark index.
Asian Paints Ltd ’s price-to-earnings ratio of 80.1 makes it the highest valued on the S&P BSE Sensex Index.
Amara Raja Batteries climbs nearly 8% on Q2 earnings growth
Amara Raja Batteries stock surged nearly 8 per cent on the bourses today on the back of jump in earnings during the second quarter ended September 2019.
The stock rose Rs 48.55 or 7.45% to Rs 703 on the BSE. Similarly on the NSE, its shares went up by Rs 48.80 or 7.50% to Rs 703. The total traded quantity of shares traded was nearly 14 lakh shares on the NSE as at 11 am today.
Related Stories
Amara Raja Batteries registers Q2 profit of Rs 219 crore, revenue down 3 per cent
Declares Rs 6 per share as interim dividend
Edelweiss Financial Services shares hit upper circuit
Shares of Edelweiss Financial Services hit upper circuit on the bourses today. The company recently had got approval from the Competition Commission for the US-based Kora’s proposed investment worth $ 75 million (about Rs 532 crore) in Edelweiss Group.
Strong rise in earnings strengthen Century Plyboards shares
Century Plyboards stock rose over 2 per cent on the bourses today following a strong rise in earnings in the second quarter ended September 2019. The stock gained 2.10% to Rs 167.50 on the BSE. Total traded quantity in the counter was 2,633 shares in the morning trade.
Related Stories
Century Plyboards looking at double-digit growth this fiscal
Plans to expand distribution presence across the country
MRF shares decline 1.25% on muted earnings growth
Shares of MRF Ltd fell over 1 per cent today after the company reported muted earnings for the second quarter ended September 2019. The stock declined Rs 809 or 1.25 per cent to Rs 63,644.90 on the NSE. Volumes traded in the counter were 1,068 shares as at 10 am today.
Hexaware Technologies : Interim risks, good long-term durable prospects
Hexaware Technologies, a mid-tier IT services firm, has been posting industry-leading revenue growth over the past 3-4 years. In the latest September quarter, however, the company’s revenue growth slowed
Related Stories
Hexaware buys US-based Mobiquity for $182 million in all-cash deal
Its largest acquisition yet, will enable Hexaware to compete for large digital transformation projects
Nifty chart
Opening Session
Stock market indices fell in early trades taking cues from weak Asian peers amid Moody's ratings report on the outlook of economy. Asian stocks fell today as uncertainty still remained over whether the United States and China could end their damaging trade war.
Moody’s flagged domestic growth risks and cut its ratings outlook for the country, as well as some corporate companies and financial institutions.
The BSE benchmark Sensex was down by 45.16 points to 40,278.45. It ended on Friday at 40,323.61.
On the NSE, the Nifty was down by 24.80 points to 11,883.50. At pre-open session today, the Nifty dived to a low of 11,817.18, shedding 100 points. However, the index recouped most of its losses immediately after the market opened on the NSE.
Among the gainers were heavyweights such as YES Bank, Tata Motors, ONGC, Tata Steel, NTPC and Kotak Bank which rose between 0-50 per cent and 2.50 per cent, while losers were Sun Pharma, HCL Tech, Infosys, TCS, Asian Paints and Vedanta which lost between 0.50% and 2 per cent
Tata Steel : After a weak Q2, what lies ahead
Indian steel companies have had a bumpy ride over the past year. A weak demand globally, primarily due to the overhang of Brexit and trade tensions between the US and China, and persisting challenges in the domestic market impacted the performance of all steel companies. The story of Tata Steel is no different.
Oil falls on jitters over US-China trade talks progress
Oil prices fell on Monday on renewed caution over the prospects of a trade deal between the United States and China, with investors shrugging off comments over the weekend by US President Donald Trump that talks were going well.
FPIs invest over Rs 12,000 cr in first week of November
Overseas investors remained net buyers in the domestic capital markets with an investment of over Rs 12,000 crore in the first week of November, as market sentiments improved following various economic reforms by the government
As per latest depositories data, foreign portfolio investors (FPI) withdrew a net amount of Rs 5,577.99 crore from equities. File Photo
Consider a bull call spread on ICICI Bank
The outlook for the stock of ICICI Bank (₹488.5) remains positive. As long as it stays above ₹380, the long term bullish trend will remain intact. The stock finds an immediate support at ₹462.
RBL Bank (₹323.9): Buy
Investors with a medium-term perspective and a contrarian view can buy the stock of RBL Bank at current levels.
Colgate-Palmolive (₹1,601.3): Buy
The stock of Colgate-Palmolive, after declining through the first half of this year, started gaining traction in the month of August. The stock took support at an important level at ₹1,100, from where the positive trend resumed.
Asian shares give up gains as Hong Kong chaos hits sentiment
Asian shares reversed gains on Monday, the yen ticked higher and gold jumped as fresh violence broke out in Hong Kong, while uncertainty still remained over whether the United States and China could end their damaging trade war.
MSCI's broadest index of Asia-Pacific shares outside Japan was up 1.08 per cent at its highest since August 2, while the Shanghai composite index surged 1.7 per cent. Japan's Nikkei added 2.4 per cent. File Photo
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