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Closing Bell
Equity benchmark Sensex ended 1.50 per cent lower on Monday due to losses in Index-heavyweights such as Reliance Industries, M&M, Hero MotoCorp, HDFC Bank and ICICI Bank amid weak cues from global markets.
After hitting a low of 30,474.15, the 30-share index ended 469.60 points, or 1.51 per cent, lower at 30,690.02.
Similarly, the NSE Nifty was down 118.05 points, or 1.30 per cent, to 9,103.95.
Bajaj Finance was the top laggard in the Sensex pack, shedding over 10 per cent, followed by Mahindra and Mahindra, Maruti, ONGC, Titan and Bajaj Auto.
On the other hand, Bharti Airtel, L&T, IndusInd Bank, Asian Paints and NTPC were the gainers.
The rising coronavirus numbers on the domestic front are still weighing on the sentiment. And, as we are approaching towards the end of the lockdown period, all eyes are on the next announcement from the government that how they’re planning to tackle this pandemic ahead.
Large corporates will kick off earnings season later this week, and market players are bracing for some bad results.
Despite all the uncertainty that persists, there is some optimism that the virus may be peaking in globally, though there is no immediate visibility of flattening of the curve just yet.
NIFTY BANK STOCKS
NIFTY BANK STOCKS
NIFTY AUTO STOCKS
NIFTY AUTO STOCKS
Index Outlook | Sensex, Nifty 50 display short-term optimism
Sensex, Nifty 50 jumped 12% on positive global cues, but investors should remain cautious
Taking cues from the positive global markets, the domestic bellwether indices regained optimism and witnessed a strong rally in the past week. Global markets rallied on Thursday on US Federal Reserve’s additional stimulus amounting to almost $2.3 trillion to support the economy shutdown due to the coronavirus outbreak.
Weekly trading guide: RIL breaches a key hurdle
The stock of SBI opened with a gap-up, but could not accelerate further; it was trading flat throughout the week. After registering a loss for six consecutive weeks, the stock closed with a marginal gain last week.
But the price remains below the 21-day moving average
Sensex stocks
Nifty Call: Nifty 50 April Futures (9,040)
The Indian benchmarks, after a flattish beginning, is now trading lower by about one per cent. This is following mixed cues from the Asian markets. Among the major indices in Asia, the Nikkei ended today’s session posting a loss of 2.3 per cent.
Broker's Analysis on forthcoming earnings season
Centrum:
Earnings are likely to remain subdued amidst the ongoing clampdown
After assessing the economic growth trajectory for FY21 along with sectoral earnings, consensus of about 22% increase in FY21 for Nifty seems extremely implausible. Analysts’ estimations of 22 companies, that was covered from NIFTY 50 universe, earnings for FY21 are likely to remain in 14%-15% range with significant downside risks attached to these projections. Going by the sectoral earnings for FY21, and it estimates were scaled down meaningfully.
The FY21 earnings will be FMCG and BFSI sector, they are growing by 13 and 20% respectively. Pharma will gain maximum traction with 21% growth, but given its low weightage in Nifty will have limited impact on the earnings.
However, sectors such as Infra, cement, IT, Oil, and gas are likely to report de-growth in their earnings.
Sensex stocks
Rupee: Sell-off can intensify below 76.55
The rupee (INR) has witnessed a flat opening today at 76.27 versus last week’s close of 76.29 against the dollar (USD). Last Thursday, the domestic currency registered a fresh lifetime low of 76.55 before recouping some of its losses. As long as the rupee remains above 76, it can be bearish and face more selling pressure.
Overseas investors pulled out a net Rs 9,103 crore from the Indian markets in April so far as the Covid-19 crisis triggered a return to safe haven assets such gold and dollar-denominated securities.
Foreign portfolio investors withdrew a net sum of Rs 2,951 crore from equities and Rs 6,152 crore from the debt segment between April 1-9, according to latest depositories data.
Total net outflow stood at Rs.9103 cr.
Sector Heatmap (April 13, 2020)
HDFC stock down nearly 2.50% even as China's central bank buys 1.1% stake
China's central bank, People's Bank of China (PBOC), has bought a 1.1 per cent stake in housing finance major HDFC Ltd on behalf of the Chinese sovereign wealth fund SAFE. The transaction is not for the Chinese Central bank itself, said HDFC Chairman, Deepak Parekh.
The stock of HDFC was quoted lower by 38.95, or 2.29%, to 1,663 on the BSE today.
Rupee down 11 paise
The rupee slipped 11 paise to 76.39 against US dollar in early trade on Monday. It ended previously at 76.28.
Gold Outlook for April 13, 2020
Geojit Financial Services Research
Large scale quantitative easing measures taken by various central banks have lifted gold higher. Investors’ demand for safe havens due to fears of a global recession amid the negative economic impact of COVID 19 will also support the yellow metal. At the same time, moderate physical activities and a strong dollar may limit major gains.
Technical Outlook (London spot):Bullish momentum may continue as long as prices stay above $1642. Intraday resistance is seen at $1695, a direct break above the same would lift prices higher to $1705 or even more towards $1740 levels. Immediate downside turnaround point is seen at $1620 .
Markets could witness sharp volatility more in the second half of the session owing to the truncated week to the weekly derivative expiry with tomorrow (April 14) being a holiday for Ambedkar Jayanti.
Pharma Stocks on BSE
Pharma stocks on April 13, 2020
Out of the 1,669 shares traded on the BSE, the number of declining scrips was higher at 908 against the number of advancers at 650.
Advances/Declines on BSE (April 13, 2020)
9.35 am
All the sectoral indices moved into red, with the exception to Telecom and Healthcare sectors. (See Table)
Pharma sector is the sole gainer in the falling market.
Opening Bell
Markets slipped at open driven lower by weakness in Banking, Auto, IT, Oil& Gas and Power sector stocks.
On the BSE, the benchmark Sensex was down 200.52 points, or 0.64%, to 30,959.10.
On the NSE, the Nifty was quoted lower by 62.65 points, or 0.69%, to 9,049.25.
Large corporates will kick off earnings season later this week, and market players are bracing for some bad results.
Despite all the uncertainty that persists, there is some optimism that the virus may be peaking in globally. The governments across the world had announced enough stimulus starting from the US to provide a safety net for corporates.
NIFTY GAINERS
NIFTY GAINERS on April 13, 2020
NIFTY LOSERS
NIFTY LOSERS on April 13, 2020
NIFTY LOSERS on April 13, 2020
Asian markets showed mixed movement on Monday. While Nikkei 225 was down by 148.76 points, or 0.76%, to 19,349.74, Hang Seng rose 329.96 points, or 1.36%, to 24,300.35 in early trading session.
U.S. stock index futures quickly gave up early gains Sunday evening, as oil prices rose following a historic agreement by major producers to curb production, ending a price war between Saudi Arabia and Russia.
OPEC, Russia approve biggest-ever oil cut to support prices amid coronavirus pandemic
OPEC and allies, led by Russia, agreed on Sunday to a record cut in output to prop up oil prices amid the coronavirus pandemic in an unprecedented deal with fellow oil nations, including the United States, that could curb global oil supply by 20 per cent.
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