Sensex, Nifty extend fall for 8th day; down 96 points

The Sensex and Nifty extended its fall for the eight consecutive sessions as weakness in global markets over China-US trade tensions kept investors on the edge.

At close, the Sensex was down 95.92 points at 37,462.99, while Nifty fell 22.90 points at 11,278.90.

The Sensex hit an intraday high of 37,721.98 and a low of 37,370.39. Similarly, the Nifty touched an intra-day high of 11,345.80 and a low of 11,251.05. The market breadth was negative as 1,276 shares declined, against advance of 1,209 shares, while 167 shares were unchanged.

Among NSE sectoral indices, PSU Bank gained the most by 2.55 per cent, followed by Media 0.81 per cent, Financial Services 0.61 per cent and Private Bank 0.17 per cent. Majors losers include Metals and Pharma sector.

Top five gainers were Zee, SBI, Titan, Bharti Airtel and IndiaBulls Housing, while the losers include Tata Steel, HCL Technologies, Yes Bank, IndusInd Bank and IOC.

State Bank of India says two bids received for Jet Airways

State Bank of India said on Friday it has received two unsolicited bids for ailing Jet Airways, nearly a month after the airline was forced to ground all operations due to funding troubles. Jet, once India's largest private airline, stopped all flights on April 17 after its lenders, led by SBI, declined to extend more funds to keep the carrier going.

Index heat map

NSE Sectoral Indices

Dalmia Bharat Q4 profit jumps over 2-fold to Rs 264 cr

Cement maker Dalmia Bharat on Friday reported over two-fold jump in its consolidated net profit at Rs 264 crore for the fourth quarter ended March 2019. The company had posted a net profit of Rs 124 crore in the January-March quarter a year ago period.

Nifty Call: Tread with caution as contract tests key resistance band

Taking mixed cues from the Asian markets, the Sensex and the Nifty began the session on a marginally positive note and turned volatile thereafter. The Nikkei 225 fell slightly by 0.3 per cent to 21,344 whereas Hang Seng index gained 1.1 per cent to 28,626 levels in today's session.

Both the indices continue to hover in the positive territory amid choppiness. The market breadth of the Nifty index is biased towards declines. The India VIX index gained 1.2 per cent to 25.8 levels. The large-cap indices are witnessing selling pressure, the Nifty Next 50 index has slipped in to negative territory. Read more on the Technicals here

SBI reports Q4 net profit at ₹838 cr; trims bad loan ratio

State Bank of India on Friday reported a standalone net profit of Rs 838.40 crore in March 19 quarter against loss of Rs 7,718.17 crore in the year-ago period.  Read more on the result here

Gillette India reports 23% rise in March quarter profit

FMCG firm Gillette India has reported 23 per cent rise in profit after tax for the March quarter at Rs 87.76 crore helped by increased productivity and cost efficiency. The company, which follows July-June financial year, reported profit after tax of Rs 71.32 crore for January-March 2018, Gillette India said. Total income during the latest quarter was up 3.58 per cent to Rs 468.84 crore as against Rs 452.60 crore in the year-ago period. Total expenses declined 3.78 per cent to Rs 332.68 crore in the latest March quarter as against Rs 345.76 crore earlier.

Nifty top gainers/losers

Nikkei suffers worst weekly loss this year as US-China ties sour

Japan's Nikkei booked its largest weekly loss in over 4 months on Friday as the United States raised tariffs on Chinese goods, escalating a trade dispute that is inflicting growing damage on other export-reliant Asian economies. The Nikkei share average closed down 0.27 per cent at 21,344.92 points, falling for a fifth straight session. The benchmark index lost 4.1 per cent on the week, its worst such performance since it recoiled 5.7 per cent in the week of December 21, 2018.

HCL Tech shares drop 6% post Q4 results

Shares of  HCL Technologies  fell nearly 6 per cent on Friday despite the company posting 14.3 per cent rise in consolidated net profit for March quarter of the last financial year. Read more about the scrip here

Lupin launches generic seizure drug in US

Drug firm Lupin Fon riday said it has launched in the US its generic Clobazam tablets used for adjunctive treatment of seizures associated with epilepsy that begins early in life. The company has launched Clobazam tablets in the strengths of 10 mg and 20 mg, after having received an approval from the United States Food and Drug Administration, Lupin said in a statement. Read more here

M&M introduces new W3 variant in XUV500 range

Mahindra & Mahindra on Friday announced the launch of an all new entry level 'W3 variant" of its SUV, the Plush XUV500 at a price of Rs 12.22 lakh (ex-showroom, Mumbai). The W3 variant would be available across the country with immediate effect, it said.

Bajaj Auto launches Avenger Street 160 ABS

Bajaj Auto on Friday said it has launched a new version of its Avenger Street 160 model equipped with anti-lock braking system (ABS) priced at Rs 82,253 (ex-Showroom Delhi). The new Avenger Street 160 has a single channel ABS along with a roadster design headlamp with LED DRLs, new graphics with larger insignia, black alloy wheels and rubberised rear grab, Bajaj Auto said in a statement.

Nifty technicals: Reuters technical input suggest that the NSE index has support at 11,221, the 50 per cent Fibonacci retracement level on the uptrend from February 19 low to April 18 high, while 11,371, the 38.2% level may act as a resistance.

J&K Bank mulls raising Rs 1,600 crore in FY20

Jammu & Kashmir Bank Friday said its board will meet next week to consider raising Rs 1,600 crore during the current financial year.

“The board of directors shall... consider the raising of capital (ATI/tier II) to the tune of Rs 1,600 crore during the financial year 2019-2020 in the meeting scheduled for May 15, 2019,” Jammu & Kashmir (J&K) Bank said in a BSE filing

Tata Motors reports drop in JLR sales in April 2019

Tata Motors on Wednesday announced Jaguar retail sales in April 2019 were 11,462 vehicles, down 13.7 per cent year-on-year and Land Rover retailed 27,723 vehicles, down 13.1 per cent compared to April 2018.

It further said, the introduction of the all-electric Jaguar I-PACE and the sales ramp up of the new Range Rover Evoque continue to be encouraging. However, retail sales of other models were lower primarily reflecting the continuing weaker market conditions in China.  Read more here

Datamatics Global Services hits upper circuit on strong quarterly results

Shares of  Datamatics Global Services Limited  rose as much 19.99 per cent to Rs 107.75, the biggest intraday percentage gain since December 2010. Read more about the scrip here

South Indian Bank drops as Q4 profit plunges

Shares of  South Indian Bank  fell as much as 5.9 per cent to Rs 14.35, marking their biggest intra-day per cent loss in over three months. Read more here

IndusInd Bank at over 10-week low; chart suggests more downside

Shares of  IndusInd Bank Limited  fell as much as 1.21 per cent to Rs 1,458.70, their lowest since February 27, 2019. Click here to read more on Technicals

Jet Airways shares climb on hopes of new saviour

Jet Airways Ltd shares on Wednesday moved up as much as 7.1 per cent to ₹157.90 after a report that London-based Adi Partners has made a binding bid for the ailing carrier. Read more here

Voltas falls as Q4 profit melts

Air conditioner manufacturer  Voltas Ltd  on Friday fell as much as 6.3 per cent to ₹537.7, its biggest percentage loss since October 2018. The company's March-quarter consolidated profit fell 27 per cent, reporting weak performance in all three key segments. Read more here

New foray may boost Sundram Fasteners

Shares of Sundram Fasteners may remain in focus, as it plans to set up a new factory at Sri City, Andhra Pradesh, eyeing to expand its non-auto business. The proposed factory will manufacture high precision engineering components (off-road) and help the company’s foray into the non-auto segment. Besides, the company is getting ready to tap the opportunity arising from the new Defence Procurement Policy. The company will focus on aerospace and defence segments.

US hikes tariffs with China talks poised for second day

The U.S. hiked tariffs on more than $200 billion in goods from China on Friday in the most dramatic step yet of Donald Trumps push to extract trade concessions, deepening a conflict that has roiled financial markets and cast a shadow over the global economy.

China immediately said in a statement it is forced to retaliate, but didnt specify how. The move came after discussions between Xi Jinpings top trade envoy and his U.S. counterparts in Washington made little progress on Thursday, with the mood around them downbeat, according to people familiar with the talks. The negotiations were due to resume on Friday morning Washington time.

Rupee Opening : The rupee opened lower by 11 paise at 70.05 per dollar on Friday against previous close of 69.94. Click here to read rupee report

Broker's call: Alembic Pharma (Buy)

Alembic Pharmaceutical’s (APL) revenue for the year grew by 26 per cent y-o-y to ₹3,935 crore mainly driven by strong growth in the international business. Read more on the buy call here

Broker's call: Shriram Transport Finance (Buy)

Revenue growth weakens as market challenges in the nature of funding pressures, need for excess liquidity on balance sheet and continued lower disbursals proved as a dampener in Q4FY19. Click here to read the Buy Call

The Indian equities on Friday opened on a positive note following recovery in Asian markets but fear remains ahead of Trump administration's plan to raise tariff on Chinese imports.

At 09:16 am , the Sensex is up  92.63 points at 27,651.54 , while Nifty rises 9.70 points at 11,311.50.

Zee, Indiabulls Housing, Yes Bank, Bharti Airtel and ICICI Bank are among the major gainers , while on the other hand HCL Technologies, Asian Paints, Tech Mahindra, Infosys and Kotak Bank are trading lower.

Among sectors, except for FMCG and IT, all other sectors are trading in green.

In the meanwhile, Wall Street's main indexes fell on Thursday ahead of critical trade negotiations between the United States and China, though they pared losses significantly after U.S. President Donald Trump said reaching a deal this week was possible. The Dow Jones Industrial Average fell 138.97 points, or 0.54 per cent, to 25,828.36, the S&P 500 lost 8.7 points, or 0.30 per cent, to 2,870.72 and the Nasdaq Composite dropped 32.73 points, or 0.41 per cent, to 7,910.59.

Oil prices rise on hopes for US-China trade deal

Oil prices rose more than one per cent on Friday amid renewed optimism that a trade deal could be struck between Washington and Beijing, calming fears that a protracted tariff war would harm global economic growth. Read the full commodity report here

Inflows into equity MF schemes down 60% on market turbulence, downgrades

Reflecting the turbulence in the capital market and the series of corporate rating downgrades, the inflow into equity schemes of mutual funds was down 60 per cent in April to ₹4,609 crore from ₹11,576 crore logged in March. Read more on trends in mutual fund sector here

Today's Pick - Ramky Infrastructure (₹102.9): Buy

The stock of Ramky Infrastructure jumped 12.7 per cent accompanied by above average volume on Thursday. Investors with a short-term perspective and contrarian view can consider buying the stock at current levels. Read the full techincal analysis here

Day Trading Guide for May 10, 2019

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

₹2291 • HDFC Bank

₹721 • Infosys

₹299 • ITC

₹169 • ONGC

₹1255 • Reliance Ind.

₹299 • SBI

₹2168 • TCS

11334 • Nifty 50 Futures

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

Asian shares rebound from 2-month lows ahead of looming US tariff hike

Asian shares inched up from two-month lows on Friday, hours ahead of the Trump administration's plan to raise tariffs on Chinese imports, as investors waited to see if negotiators can salvage a deal and avoid a sharp escalation in the trade war. Read the full Asian markets report here

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