Indices close 2019 on negative note; Sensex plunges 300 points

Nifty ended at 12,168 dropping 87.40 points.

3.30 pm

Closing Bell:

The benchmark indices closed on a negative note for 2019. The broader NSE Nifty was at 12,168.45, dropping 87.40 points or 0.71 per cent. Apart from Metal and Realty, other sectoral indices also ended in red. Around 964 advanced, 816 declined and 365 remained unchanged. Coal India, NTPC and GAIL were the top gainers at the closing, while Zee Entertainment Enterprise, Tech Mahindra and Bajaj Auto were the top losers.

The 30-pack BSE Sensex tanks 304.26 points at 41,253.74. NTPC, Sun Pharma, ONGC, PowerGrid and UltraTech Cement were the only stocks in the pack that closed on a positive note. Others leading with Tech Mahindra, Bajaj Auto and Reliance were in the red zone.

BSE Sensex Auto, Telecom and Energy closed on a negative note in the sectoral indices.

3.15 pm

Sensex, Nifty drop further

The drop in  BSE Sensex has increased as it inches closer to the closing session. The benchmark Sensex touched 41,257.65, falling 300.35 points or 0.72 per cent. In the 30-pack Sensex indice, only NTPC, Sun Pharma, ONGC and Axis Bank were in the positive mark. Others were all in the red zone, lead by Tech Mahindra with a drop of 2.27 per cent.

 

The NSE Nifty also has been dragging in the afternoon session. The benchmark was at 12,160.10dropping 95.75 points or 0.78 per cent. Apart from Metal and realty other sectoral indices were in red.

 

3.00 pm

SEBI fines seven entities for fraudulent trading in Sunteck Realty scrip

Market regulator SEBI has slapped a total fine of over ₹14.4 crore on five entities, an amount twice the ill-gotten gains made by them while fraudulently trading in the scrip of Sunteck Realty Ltd.

 Of these, the two entities– Jitendra Joshi and Shripal Shares and Securities Ltd– that have incurred losses are facing a fine of ₹5 lakh each.

 The entities have been penalised for executing circular trades among themselves, thereby violating Prohibition of Fraudulent and Unfair Trade Practices (PFUTP) norms.

 By trading in the scrip of the firm, the entities made a combined profit of over ₹7.24 crore.

 The matter pertains to a probe conducted by SEBI between April 2007 and August 2008 on receipt of an alert in its surveillance system with regard to the price movement and trading pattern in the scrip of Sunteck Realty. CLICK HERE TO KNOW MORE ABOUT IT  - PTI

2.45 pm

 

Alkem Labs to acquire assets related to Dronabinol from AbbVie Inc

Drug firm Alkem Laboratories on Tuesday said it has entered an asset purchase agreement with AbbVie Inc, USA, for acquisition of certain assets related to active pharmaceutical ingredient, Dronabinol, for over $10 million approximately Rs71 crore).

The assets related to Dronabinol include domain names and trademarks pertaining to ‘Marinol’, New Drug Application (NDA) registration with US Food and Drug Administration (USFDA) for Marinol, logos, patents designs, know how, technical and manufacturing instructions, inventory, manufacturing equipment and such items, Alkem Laboratories said in a filing to BSE.

The cost of acquisition is cash consideration of USD 10 million plus suitable working capital adjustments on closing, it added.

Shares of Alkem Laboratories were trading at Rs 2,025.45 per scrip on BSE, up 1.81 per cent from their previous close. -PTI

2.30 pm

Afternoon Update:

BSE Sensex has been falling since the opening. In the afternoon session, it reached 41,387.75 with a drop of 170.25 points or 0.41 per cent. Here are the stocks of the 30-pack Sensex trading at:

NSE Nifty 50 has been hovering around the 12,200 marks since the early trade. Currently, the broader index is trading at 12,209.00 with a drop of 46.85 points or 0.38 per cen. Here are the top gainers and losers for afternoon session on NSE:

 

2.10 pm

Manappuram Finance raises Rs 350 cr by issuing bonds

Manappuram Finance on Tuesday said it has raised Rs 350 crore by issuing bonds on private placement basis.

The Financial Recourse and Management Committee of the company’s board has approved allotment of 3,500 secured, rated, listed, redeemable non-convertible debentures of face value of Rs 10 lakh each, aggregating to Rs 350 crore, according to a BSE filing.

The proposal for issuance of bonds on private placement basis was approved at a board meeting held on December 31, it added.

Manappuram Finance stock was trading at Rs 179.55 on the BSE, up 0.5 per cent from the previous close.-PTI

1.50 pm

Hero MotoCorp launches HF Deluxe BS-VI

The country’s largest two-wheeler maker Hero MotoCorp on Tuesday launched BS-VI compliant version of its entry level 100 cc bike, HF Deluxe with price starting at ₹55,925.

The HF Deluxe BS-VI will be available at ₹55,925 for self-start alloy-wheel variant and ₹57,250 for self-start alloy i3S variant (prices ex-showroom Delhi) from the beginning of January 2020, the company said in a statement.

The launch of HF Deluxe BS-VI follows the recent launch of the company’s first-ever BS-VI product, Splendor iSmart. Read more here.

The stock of Hero MotoCorp has been trading at Rs.2463.50 a piece, with a drop of 15.30 points on NSE. - PTI

 

1.35 pm

Thermax bags ₹431-cr order for setting up FGD systems in Jharkhand

Engineering solutions provider Thermax Ltd on Tuesday said it has bagged ₹431 crore order from a public-private joint venture power company for setting up two flue gas desulphurisation (FGD) systems at their thermal power plant in Jharkhand.

In a flue gas desulphurisation system (FGD), sulphur compounds are removed from the exhaust emissions of fossil-fuelled power stations.

Thermax will install two units of FGD systems of 525 MW capacity each to limit SOx (sulphur oxides) emissions as per the revised regulations from the Ministry of Environment, Forest and Climate Change, the company said in a regulatory filing.- PTI

Thermax is trading at Rs.1052.70 on the NSE.

1.22 pm

Nifty call: Nifty 50 January Futures (12,290)

Following the bearish cues from the US market, the Indian benchmarks are trading lower today. The Nifty spot and the Sensex spot indices are down by a little over 0.3 per cent for current session.

The January futures contract of the Nifty 50 index opened lower at 12,296 versus its previous close of 12,329. After registering an intraday high of 12,312, the contract has been trading with a negative bias and struggles to sustain above 12,300.

The market breadth of the Nifty 50 index is also hinting a bearish bias as the advance-decline ratio is at 20-30. The market is witnessing increased volatility as indicated by India VIX- the volatility index. It has shot up by nearly 5 per cent to 11.55 levels. Among the sectoral indices, the Nifty realty index is the top gainer, up by 0.5 per cent whereas the Nifty media index is the top loser, down by 0.7 per cent.

Strategy: Sell on rallies with stop loss at 12,350

Supports: 12,250 and 12,230

Resistances: 12,300 and 12,350

FOR MORE ON THIS TECHNICALS READ HERE

1.10 pm

Cochin Shipyard declared resolution applicant of Tebma Shipyards

State-owned Cochin Shipyard has been declared as the successful resolution applicant by the lenders to Tebma Shipyards, which is under insolvency resolution process.

The Corporate Insolvency Resolution Process (CIRP) of Tebma Shipyards was initiated by an order dated September 25, 2018 of National Company Law Tribunal (NCLT), Chennai Bench.

“Cochin Shipyard has been declared as the successful Resolution Applicant by the Committee of Creditors of Tebma Shipyards under the CIRP of the Insolvency and Bankruptcy Code, 2016,” Cochin Shipyard said in a BSE filing on Tuesday. Read more here

The shares of Cochin Shipyard is trading at Rs.402.50 a scrip, a jump of 1.90 points.

 

12.55 pm

Centre to allow all telcos, vendors for 5G trials

Chinese telecom vendor Huawei heaved a sigh of relief as the New Delhi has decided to provide spectrum for 5G trials and allow all telecom operators and equipment makers In fact, another Chinese vendor ZTE can also participate in the trials thanks to this announcement.

Speaking on the sidelines of an event here, Ravi Shankar Prasad, Minister of Telecommunications and Information Technology, said, “We have taken a decision to give 5G spectrum for trial to all players... all companies will be allowed for the trials.”

Asked specifically about Huawei, Prasad said, “all means definitely all”. READ MORE ABOUT IT HERE

The BSE Sensex Telecom index showed 0.41 per cent change today.

12.45 pm

 

Axis Bank appoints new Chief Risk Officer

 

Axis Bank on Tuesday appointed Amit Talgeri as the Chief Risk Officer (CRO) of the bank for three years, from January 1, 2020.

“Cyril Anand, the incumbent CRO will retire from the services of the bank, with effect from close of business hours of December 31, 2019,” Axis Bank said in a statement.

Additionally, Naveen Tahilyani has been appointed as Group Executive -- Head Banking Operations and Transformation -- with effective from January 6. Read more here

The shares of AXIS Bank on the NSE were trading at Rs.761.15  a jump of 7.05 points.

12.35 pm

Debt of RattanIndia Power acquired by Goldman Sachs, Varde Partners

In one of the biggest debt resolution deals outside the Insolvency and Bankruptcy Code, RattanIndia Power Ltd has done an agreement with its consortium of lenders led by PFC and SBI under which the existing principal debt of ₹6,574 crore will be taken over by new investors, including Goldman Sachs and Varde Partners, for ₹4,050 crore.

This is the first successful scheme to have been closed under the RBI’s Prudential Framework for resolution of stressed assets issue in June this year and the largest in terms of size outside the NCLT framework without any change in the existing management. CLICK HERE TO READ MORE

The shares of RattanIndia Power is trading at Rs.1.95, a jump of 4.84 per cent

12.22 pm

Jet Airways shares gain 5%

 

Jet Airways shares on Tuesday gained five per cent to touch its highest trading permissible limit amid reports that Hinduja Group is preparing a bid to buy the grounded carrier.

The scrip jumped 4.96 per cent to ₹29.60 -- its upper circuit limit --on the BSE.

On the NSE, it went up 4.87 per cent to ₹29.05 - its highest trading permissible limit for the day.

As per media reports, the UK-based group plans to submit an expression of interest by the January 15 deadline, signalling its intent to make a formal offer.- PTI

12.20 pm

Chalet Hotels shares zoom 13%

Shares of Chalet Hotels on Tuesday jumped nearly 13 per cent after the company extended its collaboration with global hospitality major Marriott International Inc with five new agreements.

 The scrip climbed 11.22 per cent to ₹395 – its 52-week high – on the BSE.

 On the NSE, it zoomed 12.90 per cent to a one-year high of ₹402.

 Under the pacts, the company would build hotels and extend contracts across brands such as ‘W’, ‘Westin’ and ‘Marriott Executive Apartment’ in Hyderabad and Mumbai, Chalet Hotels said in a filing to the BSE.

 “We are happy to end 2019 on a high note. These agreements fortify our two-decade long relationship with Marriott,” Chalet Hotels MD and CEO Sanjay Sethi said.

 Chalet Hotels Ltd (CHL) is an owner, developer and asset manager of high-end hotels in key metro cities in India. - PTI

12.10 pm

NSE Nifty Sectoral Indices

Nifty Auto and bank are in the falling zone whereas, Pharma, FMCG and PSU banks are in the green.

Source: NSE

 

12.01 pm

 

CG Power board appoints new additional, non-executive independent director

CG Power & Industrial Solutions logo   -  Website/CG Power & Industrial Solutions

 

Fraud-hit CG Power and Industrial Solutions on Tuesday said its board has approved the appointment of Pradeep Mathur as an additional and non-executive independent director of the company.

The appointment of Mathur, for a period of five years, is subject to the approval of the members at the next annual general meeting of the company, CG Power and Industrial Solutions said in a filing to BSE.

“The board of directors of the company has... approved the appointment of Pradeep Mathur as an additional and non executive independent director of the company with effect from December 30, 2019, based on the recommendation of nomination and remuneration committee,” it stated.

READ MORE ABOUT IT HERE

The shares of the company were trading at ₹10.65 a piece on BSE.

11.50 am

Nifty, Sensex slip on year-end profit booking

Indian stocks slipped on Tuesday but hovered around their all-time highs as investors booked year-end profits, while the benchmark Nifty index was poised for a nearly 13 per cent gain in 2019.

On the last trading day of the year, the NSE Nifty 50 index was down 0.36 per cent at 12,211.60 by 10:15 am, while the S&P BSE Sensex was trading 0.38 per cent lower at 41,401.35.

The Nifty has risen 12.5 per cent so far this year, while the Sensex has climbed 14.8%. Both blue-chip indexes hit fresh record highs this year and have gained sharply more than in 2018, even as economic growth slipped to a five-year low this year amid a slowdown in demand for everything from cars to cookies.

Still, the gap between large-cap shares and their smaller peers was stark. The BSE MidCap index has shed 3 per cent this year, while the BSE SmallCap index is down 7 per cent. -Reuters

READ MORE ABOUT IT HERE

11.40 am

Life insurers pay ₹4,442-cr dividend in FY19, the highest in last five years

 

Both public and private life insurers paid a total dividend of ₹4,442 crore in 2018-19 when compared to ₹4,192 crore in 2017-18. This is the highest dividend amount paid by insurers in the past five years. The previous highest amount paid was ₹4,364 crore in 2015-16.

Top player LIC paid/proposed ₹2,660.60 crore as dividend to the shareholder, the government of India. It paid a dividend of ₹2421.82 crore in 2017-18. Seven private insurers, such as HDFC Life, ICICI Prudential, Max Life, SBI Life, Bajaj Allianz, Shriram Life and SUD (Star Union Dai-ichi) Life, proposed dividends in 2018-19. In the previous fiscal, five private players proposed/paid dividends, according to the latest annual report of Insurance Regulatory and Development Authority of India (IRDAI).

ICICI Prudential Life, a leading Indian private life insurer with an APE (annual premium equivalent) market share of 18 per cent (FY19), proposed/paid a dividend of ₹703 crore (₹990 crore in FY18), while HDFC Life’s dividend for FY19 was ₹329 crore (₹273 crore). Max Life, SBI Life and Bajaj Allianz paid/proposed ₹397 crore (₹286 crore), ₹200 crore (₹200 crore) and ₹105.5 crore.

READ MORE ABOUT THIS HERE

11.25 am

 

MCX-Aluminium likely to extend rally

The spot price of aluminium on the MCX breached the crucial resistance at ₹136. Thus, it has moved out of the range between ₹128.5 and ₹136, within which it had been oscillating since the beginning of October. The metal might have reversed the trend and so the spot price is likely to continue to head upwards in the coming days.

To know more read here

11.10 am

 

Sensex, Nifty rolling in red

Nifty 50 and Sensex have been on a negative run since morning. The broader Nifty indice opened at 12,227 but now it is at 12,201.65, showing a 54.20 points drop. The top gainers in this index were Coal India with 1.26 per cent gain, followed by GAIL, Infratel, NTPC and Titan.

The losers were Tech Mahindra with 1.95 per cent change. Joining this were Eicher motors, IndusInd Bank, UPL and Kotak Bank.

Source: NSE

 

The 30-pack BSE Sensex indice was also not in good run. It fell 189.12 points at 41,368.88. It has been on constant drop since yesterday, although the pre-open today was running in the green note. The top losers of this pack was Tech Mahindra with a drop of 1.87 per cent. The others were IndusInd Bank, HDFC Bank, ICICI Bank, Reliance and Tata steel. Of the 30 stocks, only six of them were in the up move.

 

11.00 am

Kalpataru Power bags orders worth ₹979 cr

 

Kalpataru Power Transmission on Tuesday said that it has bagged orders worth approximately ₹979 crore in the transmission and distribution (T&D) segment and for railway electrification and gauge conversion.

“Kalpataru Power Transmission Ltd (KPTL)... has secured new orders/notification of award of approximately ₹979 crore. The company’s international subsidiary secured new T&D projects in Europe,” it said in a filing to BSE.

It also bagged orders from the country and Middle East in T&D business and engineering, procurement and construction projects for railway electrification and gauge conversion works in India, as per the filing.

The shares of the company were trading at ₹407.75 a piece on BSE in morning trade. - PTI

10.50 am

NTPC’s 800 mw unit of Darlipali Super Thermal Power Project in Odisha gets operational

State-owned NTPC on Tuesday said 800 mw unit of its Darlipali Super Thermal Power Project in Odisha has become operational.

With this, the total installed capacity of NTPC and NTPC group has become 49,695 MW and 58,156 MW respectively, the PSU said in a filing to BSE.

”... 800 MW unit of Darlipali Super Thermal Power Project has been added to installed capacity of NTPC on successful completion of trial operation,” the company said.

The shares of NTPC were trading at Rs 116.40, down 0.09 per cent on BSE in the morning trade. - PTI

10.40 am

SEBI may widen stock classification scope for MF investment

 

The capital and commodity markets regulator, SEBI, is expected to enhance the definition of large-cap stocks for mutual funds' învestments from the top 100 companies in terms of market capitalisation to the top 150, amidst growing investor concern over “too much money chasing very few stocks”.

Similarly, the mid-cap stocks list would now start from 151 to 300, and the remaining stocks will be classified as small-caps.

The Association of Mutual Funds in India, which has been mandated by SEBI to review the list every six months, is expected to announce the new list in the first week of January. The list was last revised in July. Read more about it here

10.30 am

 

Daily Rupee call: Go long with stop loss at 71.45

Yesterday, the rupee (INR) ended the session slightly higher at 71.31 versus 71.35 against the dollar (USD). The support at 71.4 seems to be limiting the downside for the rupee as it rebounded from that level yesterday. So, until it trades above that level, the local currency can be approached with a positive bias.

If rupee advances from current levels, it will face a hurdle at 71.2, above which there is a considerable resistance at 71. On the other hand, if it breaks below the support at 71.4, it will find support at 71.6.

FOR MORE ON THIS TECHINICAL CLICK HERE

Traders are recommended to initiate rupee long positions on declines with stop loss at 71.45.

Supports: 71.4 and 71.6

Resistances: 71.2 and 71

 

10.20 am

 

With mining leases renewed ahead of deadline, NMDC set for a promising 2020

With iron ore prices set to firm up from January 2020 and both steel production and prices starting to move up from November, the country’s largest iron ore mining company NMDC Ltd has a lot going for it to cash in on the expected buoyancy.

The Hyderabad-based State-owned mining company, whose focus has been on iron ore mining, has also received a shot in the arm with the Union Coal Ministry allocating two coal blocks — the Rhone and Tokisud North — both located in Hazaribagh district of Jharkhand, its iron ore mining leases in Chhattisgarh have been renewed three months ahead of the scheduled expiry and it has secured nod from the government for expansion of the Kumaraswamy mines in Karnataka from 7 MTPA to 10 MTPA.

In a major development, the Chhattisgarh government has extended the mining lease of four mines of the Bialdila iron ore projects, in December, which were due for extension in March 2020.

Shares of NMDC are trading at Rs.127.25 a scrip on the NSE.

Read more about it here

10.10 am

Rupee rises 8 paise to 71.23 against USD

The rupee appreciated by 8 paise to 71.23 against the US dollar in early trade on Tuesday as optimism over the US-China trade deal strengthened investor sentiments.

As per media reports China’s Vice-Premier Liu He, who is also the chief negotiator for trade talks with the US, will lead a delegation to Washington this weekend, during which he is expected to sign a phase one deal.

Besides, weakening of the American currency in overseas market supported the rupee, while steady rise in crude oil prices and weak opening in domestic equities weighed on the local unit, forex traders said.

At the interbank foreign exchange the rupee opened at 71.28, then gathered momentum and touched 71.23 against the US dollar, registering a rise of 8 paise over its previous close. Read more about it here

10.00 am

Meera Industries approves issue of bonus equity share

The board of Meera Industries on Monday approved the issue of bonus equity shares in the proportion of 7:5 ( seven bonus shares for every five held in the company), as on the record date, it said in a notice to the exchanges.

 The decision is subject to approval from the members of the company. The bonus shares will be issued out of free reserves and/or the securities premium account and/or the capital redemption reserve account of the company available as at March 31, 2019, it added. The post-bonus paid-up equity share capital is expected to be around ₹10.68 crore.

Shares of Meera Industries jumped 4 per cent at ₹148.00 on the BSE in the opening session.

 

9.50 am

Sensex drops 150 points and more

BSE Sensex has been dropping points since the beginning of the session today. At present, it stands at 41,404.27, with 153.73 points or 0.37 per cent drop. Here is how the 30-pack stocks are at the moment:

 

9.45 am

 

Asian shares lower as investors book decade-end profits

Asian shares slipped on the last trading day of the decade, echoing falls on Wall Street, as investors locked in gains made since the United States and China reached a preliminary trade deal earlier this month.

Early in the Asian trading session, MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.39 per cent, its weakest performance since December 4. For the month, the index is still up 5.7 per cent. The index has gained 16 per cent this year, a sharp turnaround from a 16.2 per cent drop last year but lagging a 23.8 per cent year-to-date gain in MSCI's global share index. Australian shares were 1.69 per cent lower and Hong Kong's Hang Seng dropped 0.32 per cent.

Markets in Japan and South Korea were closed for a holiday.

The falls in Asia came after profit taking pushed the Dow Jones Industrial Average down 0.64 per cent to 28,462.14, the S&P 500 0.58 per cent lower to 3,221.29 and the Nasdaq Composite off 0.67 per cent to 8,945.99.

The dollar continued to weaken against the yen, dropping 0.12 per cent to 108.73, and the euro strengthened 0.16 per cent to buy $1.1215. The dollar index, which tracks the greenback against a basket of six major rivals, was 0.06 per cent lower at 96.686.

US crude dipped 0.18 per cent to $61.57 a barrel and Brent crude shed 0.15 per cent to $66.57 per barrel.

Gold continued its rally on a weakening dollar. On the spot market, the precious metal was changing hands at $1,520.16 per ounce, up 0.33 per cent.

To know more about the Asian Market click here

9.35 am

 

Broker's call: Zensar Technologies (Buy)

ICICI Securities

Zensar Technologies (Buy)

CMP: ₹172.75

Target: ₹210

In 2016, there was a change in management of Zensar Technologies and Sandeep Kishore from HCL Technologies joined as CEO. The new CEO’s focus on building digital capability has led to four acquisition over the past three years. These acquisition coupled with organic RPA tools & platforms have enabled the company to develop a full scale digital practice. We believe this will enable Zensar to participate in full scale digital deals and also help win large deals.

Read more about it here

9.25 am

 

Stocks in focus

Dr Reddy’s Laboratories on Monday, announced the launch of Sodium Nitroprusside injection, 50 mg/2 ml (25 mg/ml) single-dose vial,in the United States. The Nitropress brand and generics had US sales of about $8 million MAT for the most recent 12 months ended October 2019 according to IQVIA Health. Dr Reddy’s Sodium Nitroprusside injection is available in single-dose 50 mg/2 ml (25 mg/ml) vials. Nitropress is a trademark of Hospira, Inc. Shares of Dr Reddy’s may react positively to the development.

Chalet Hotels has entered into a deal with Marriott Hotels India to build hotels and extend contracts. Accordingly, The Westin Hyderabad Hitec City, a 170-key property, is expected by 2020; The Westin Hyderabad Mindspace (427 keys) a new contract; W Mumbai Powai Lake, (150 keys), is expected by 2023; The Westin Mumbai Powai Lake (600 keys) a new contract with brand conversion for Renaissance Mumbai Convention Centre, and Hotel Lakeside Chalet - Marriott Executive Apartments (173 keys) a new contract.

Kaveri Seed Companys buyback offer will open on Tuesday. The company plans to buy back up to 28 lakh shares worth ₹196 crore at ₹700 a share. Only those shareholders whose names appeared on the company’s books on November 22 (record date) can participate in the buyback, which is through the tender route on proportionate basis. The buyback offer ends on January 23, 2020. Shares of Kaveri Seed on Monday closed at ₹514.20 on the NSE. Analysts will watch for the response to the buyback issue.

 

9.15 am

Opening bell:

Equity benchmark BSE Sensex tumbled over 100 points in opening session on Tuesday tracking weak global cues as year-end holidays thinned trading across markets.

The 30-share BSE index fell 108.21 points or 0.26 per cent to 41,449.79, and the broader NSE Nifty slipped 28.10 points or 0.23 per cent to 12,227.75.

Tech Mahindra was the top loser in the Sensex pack, dropping up to 1.51 per cent, followed by Hero MotoCorp, IndusInd Bank, Mahindra and Mahindra, ICICI Bank and HDFC twins.

On the other hand, Axis Bank was the top gainer, rising up to 0.42 per cent. Sun Pharma, Ultratech Cement, HUL, ITC and SBI were also trading in the green.

In the previous session, the 30-share gauge ended 17.14 points, or 0.04 per cent, lower at 41,558. The Nifty, however, closed 10.05 points, or 0.08 per cent, higher at 12,255.85.

Meanwhile, on a net basis, foreign institutional investors sold equities worth Rs 130.52 crore, while domestic institutional investors purchased shares worth Rs 201.32 crore on Monday, data available with stock exchange showed.

According to experts, domestic stock market remained lacklustre as 2019 is coming to an end amid muted activity worldwide amid year-end holidays.

Foreign Bourses

Bourses in Shanghai and Hong Kong were trading on a negative note in their respective early sessions, while those in Tokyo and Seoul remained closed.

Stocks on Wall Street ended lower on Monday.

Brent futures, the global oil benchmark, slipped 0.07 per cent to USD 66.62 per barrel.

Meanwhile, the rupee appreciated 4 paise to 71.27 against the US dollar in morning session - PTI

 

9.10 am

Today's Pick: Apollo Hospitals (₹1,418.9): Buy

 

We recommend a buy in the stocks of Apollo Hospitals at current levels. The Stock of Apollo Hospitals had a volatile year. It registered a 52-week low of ₹1,083.1 in February. But after that, the stock started to rally and marked its lifetime high of ₹1,579.7 in September.

Since then, the stock has largely been oscillating in a broad range between ₹1,350 and ₹1,540. Notably, the stock witnessed downward pressure in December, where it tumbled to ₹1,350 from ₹1,485 levels. However, further decline was arrested as ₹1,350 acted a substantial support.

In the past week, the stock broke out of the key resistance at ₹1,400 and is currently trading at ₹1,418.9; it has also closed above the 21-DMA on a daily basis. Thus, the price action on the daily chart hints a positive momentum. Corroborating the bullish bias, the daily RSI is showing an uptick and has moved above the midpoint level of 50. Also, the MACD indicator on the daily chart indicates a positive momentum. Hence, investors with short-term perspective can buy the stock with stop loss at ₹1,390 for a target is at ₹1,480.

 

9.05 am

Day Trading Guide For December 31, 2019

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

₹1282 • HDFC Bank

S1

S2

R1

R2

COMMENT

1260

1245

1285

1298

Initiate fresh short positions with a stiff stop-loss, as ₹1,285 levels is a strong resistance

 

₹732 • Infosys

S1

S2

R1

R2

COMMENT

723

715

736

742

Buy the stock of Infosys if price moderates to the support at ₹723 levels and place a tight stop-loss

 

₹238 • ITC

S1

S2

R1

R2

COMMENT

234

231

239

242

The stock is facing selling pressure on rallies; thus, initiate short position on rallies with stop-loss at ₹242

 

₹128 • ONGC

S1

S2

R1

R2

COMMENT

125

122

130

133

Fresh long positions can be initiated with a stiff stop-loss only if the stock of ONGC moves beyond ₹130 levels

 

₹1544 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1530

1500

1545

1560

Consider initiating fresh long positions only if the stock breaks out of ₹1,545 and place stop-loss at ₹1,530

 

₹334 • SBI

S1

S2

R1

R2

COMMENT

325

318

335

341

Fresh long positions can be initiated with a tight stop-loss if the stock of SBI rally past ₹335 levels

 

₹2183 • TCS

S1

S2

R1

R2

COMMENT

2180

2160

2220

2240

Initiate fresh short positions with a fixed stop-loss if the stock falls below the support at ₹2,180 levels

 

12332 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

12250

12230

12350

12400

Consider initiating fresh long positions with a tight stop-loss only if the contract advances above 12,350 levels

 

S1, S2 : Support 1 & 2; R1, R2: Resistance 1 & 2.

Published on December 31, 2019