Sensex gains over 180 points, Nifty ends at 11,940

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3.50 pm

Closing bell: Benchmark equity indices ended higher by 185 points on Tuesday, even as trades were range-bound throughout the day.

The 30-share BSE Sensex inched up 185.51 points, or 0.46 per cent, to close at 40,469.70. The broader NSE Nifty settled 55.60 points or 0.47 per cent, higher at 11,940.10.

Bharti Infratel was the top gainer in the Nifty pack, rising 10.96 per cent. Bharti Airtel, Reliance, Axis Bank and Cipla rose up to 8.66 per cent.

Yes Bank was the top loser, dropping 2.51 per cent. Mahindra & Mahindra, Zee, TCS and Tata Steel too fell up to 2.21 per cent.

Meanwhile, on Tuesday's trading, the Reliance Industries stock had scaled a fresh 52-week high of Rs 1,514.90 on the NSE.

The Sensex hit an intraday high of 40,544.13 and a low of 40,290.21. Similarly, the Nifty touched an intraday high of 11,958.85 and a low of 11,881.75. The market breadth was negative as 928 shares declined, against advance of 855 shares, while 361 shares were unchanged.

Among NSE sectoral indices, PSU Bank index gained the most by 3.88 per cent, followed by Nifty Bank 0.79 per cent, private bank 0.65 per cent and pharma 0.45 per cent.

3.15 pm

Housing sales of 9 listed players up 2% at Rs 5,520 cr in July-Sept: Report

Housing sales of nine major real estate companies, which are listed on stock exchanges, increased marginally 2 per cent to Rs 5,520 crore during the second quarter of 2019-20, according to a research report.

The sales booking data for July-September of nine companies -- DLF, Godrej Properties, Mahindra Lifespace, Oberoi Realty, Prestige, Sobha, Puravankara, Brigade and Kolte-Patil -- has been compiled by property consultant Anarock.

In the organised housing brokerage business, Noida-based Investors Clinic, Anarock, New Corp-backed PropTiger, Anil Ambani led Reliance group-backed Square Yards, Quikr Realty and Gurugram-based 360 Realtors are the leading players.

2.45 pm

IRCTC will soon get Navratna status: Minister

IRCTC will soon get Navratna status, Suresh C Angadi, Minister of State for Railways, announced here today. He said this while announcing the relaunch of Golden Chariot luxury train.

The train, which was loss making, was idling and will now restart with an eye to attract international tourists.

The Railways has lowered the haulage charges, a cost involved to run the train. The luxury tourist train, in its new itinerary, will cover newer areas in Tamil Nadu and Goa as well, apart from places in Karnataka.

The train should be profitable as well, said Angadi.

2.35 pm

PSU bank shares advance; Oriental Bank of Commerce up 17%

The PSU bank shares were trading in the positive zone in Tuesday's trading session. The Nifty PSU Bank index was trading 4.43 per cent higher at 2,602.80 at 2.30 pm.

Shares of Oriental Bank of Commerce (up 17.37 per cent), Syndicate Bank (up 14.58 per cent), Central Bank of India (up 12.65 per cent), The Jammu & Kashmir Bank (7.42 per cent) and Union Bank of India (up 6.12 per cent) were the top performers in the index.

Indian Bank (up 5 per cent), Bank of India (up 4.56 per cent), Canara Bank (up 3.94 per cent) and Allahabad Bank (up 3.57 per cent) too were trading higher.

The benchmark Nifty50 index was up 40.25 points at 11,924.75 while the BSE Sensex was up 138.18 points at 40,422.37.

2.25 pm

TCS launches Microsoft Business Unit to help enterprises leverage AI, ML

IT services major Tata Consultancy Services (TCS) on Tuesday said it is setting up a new Microsoft Business Unit (MBU) that will help enterprises to better leverage technologies like artificial intelligence, automation and cloud.

“The new unit will leverage TCS’ deep domain knowledge across industries and global talent pool of nearly 50,000 engineers trained on Microsoft technologies, to help customers leverage the power of AI, automation and cloud to enhance customer experience, re-imagine employee empowerment, optimize operations and spur innovation,” a statement said.

2.10 pm

Nifty Sectoral Indices @ 2 pm

 

2 pm

Reliance Capital Pension’s registration under NPS cancelled: PFRDA

The registration of Reliance Capital Pension Fund under the government’s National Pension Scheme (NPS) has been cancelled following a request by the company, sector regulator PFRDA said in a notice. Read more here

1.50 pm

Vehicle registration up 4 per cent in October on back of festival sales

Vehicle registrations finally showed positive momentum in October, with the festivals of Navratri/ Dussehra and Diwali falling in the same month, the Federation of Automobile Dealers’ Associations (FADA) said on Tuesday.

Vehicle registrations rose by 4 per cent on a year-on-year (YoY) basis during the month, it said. The two-wheeler segment registered 5 per cent growth, while the three-wheeler segment was up 4 per cent and retail sales in the passenger vehicles (PV) segment grew 11 per cent. However, registrations in the commercial vehicle (CV) segment were down 23 per cent YoY.  Read more here

12.55 pm

M&M, Ford kick off ‘matched pairs’ drive

Mahindra & Mahindra and Ford India have kicked off the process of forming ‘matched pairs’ to leverage common competencies.

To put it simply, where someone from Ford is part of a function which is common to his counterpart at M&M, the idea is to see how these skills can be optimised better while working together. “The whole trick will be to get the best of both,” Pawan Goenka, Managing Director, M&M, told BusinessLine. Read more here

12.50 pm

Karvy Stock Broking allays investors fears on defaulting

Investors have accused Karvy Stock Broking of not honouring fund transfer on their transactions. BusinessLine spoke to a number of investors and, according to them, the Hyderabad-based financial services firm, is not paying the funds to them for the shares they sold on time.

The broking firm on Monday said that it is honouring all commitments. Read more here

12.45 pm

Markets Update: The BSE Sensex has risen 182.88 points to 40,467.07 in the afternoon trade (12.40 pm) on Tuesday, while the NSE Nifty is up 53.10 points to 11,937.60, led by an uptick in pharma and IT stocks.

In the Nifty pack, Bharti Infratel was the biggest gainer (up 5.60 per cent), followed by Bharti Airtel, Cipla, RIL and Axis Bank, rising up to 5.30 per cent.

12.36 pm

Nifty call: Buy in dips with a tight stop-loss

Nifty 50 November Futures (11,965)

The November futures contract, after opening flat has been trending on the upside since morning. The contract seems to have bounced from the key level of 11,900. The Asian indices are giving mixed signals as Nikkei is down by half a percentage point whereas Hang Seng is up by 1.25 per cent. Click here to read more

12.30 pm

Tata Steel plans to cut up to 3,000 European jobs

Tata Steel plans to cut up to 3,000 jobs across its European operations, the company said on Monday, as the sector wrestles with excess supply, weak demand and high costs.

Earlier, a source close to the discussions told Reuters around 3,000 people would be affected after the group's European Chief Executive Henrik Adam said Tata was planning to announce job cuts across the European business without giving figures. Read more here

12.25 pm

Panacea Biotec appoints Susheel Umesh as Chief Executive of domestic formulations

As part of its organisational restructuring programme, drug firm Panacea Biotec on Tuesday said it has appointed Susheel Umesh as the Chief Executive of domestic formulations.

The company also announced the elevation of Rajeeva Kumar Mangalum as Chief Operating Officer for the pharmaceutical operations and Dinesh Singla as senior vice president- pharma research and pharma regulatory affairs, according to a regulatory filing.

Shares of the company were trading 0.83 per cent higher at Rs 127 apiece on BSE.

12.20 pm

Dilip Buildcon bags Rs 2,123 cr order from Coal India arm

Highway developer Dilip Buildcon on Tuesday said it has bagged an order worth Rs 2,122.74 crore from Northern Coalfields Ltd, a subsidiary of Coal India, for removal of overburden at a mining project in Madhya Pradesh.

In mining, overburden is the overlying material (such as rock, soil) that generally has no commercial value.

“Dilip Buildcon has been awarded OB (over burden) removal contract mining work for Nigahi project at Singrauli district in the State of Madhya Pradesh valued at Rs 2,122.74 crore by the Northern Coalfields Ltd (NCL), a subsidiary of Coal India Ltd (CIL),” the company said in a filing to BSE.

The company was declared L1 bidder (lowest bidder) in the reverse auction conducted by NCL, the filing added. The contract period of the project is 1,552 days. Coal India accounts for over 80 per cent of domestic coal output.

Shares of Dilip Buildcon were trading at Rs 419.60, higher by 3.89 per cent on the BSE.

12.15 pm

NBFCs with over ₹500 cr assets size now under IBC

On the heels of putting in place a generic framework for insolvency proceedings of Systemically Important Financial Service Providers (FSP), the Centre has now specifically brought Non Banking Finance Companies (NBFCs) with over ₹500 crore assets size under the Insolvency and Bankruptcy Code (IBC) fold. Read more here

12 noon

Bandhan Bank shares fall 4% as Assamese protesters seek a ban on microfinance companies

Shares of Bandhan Bank tumbled over 4 per cent in early trade on Tuesday on news of some women protesters in Assam seek a ban on microfinance companies. The stock is hovering around ₹535.

According to media reports from the northeast, several organisations under the banner of Jagrata Mahila Suraksha Samaj staged a protest against microfinance companies which they alleged had ruined the rural economy.

The Samaj demanded that these microfinance companies should be banned from operating in Assam.

According to analysts, Bandhan Bank is the most significant player with an asset base in Assam. Analysts say over 15 per cent of its total AUM is catering to Assam.

Alleging that these companies were charging exorbitant rates of interest on loans and that their accounts checked for malpractices, they said the extra interest which had been collected should be returned.

11.45 am

Thomas Cook India introduces ‘Easy Payment Plan’ for holidays

Thomas Cook (India) Ltd., a travel related financial services company, has introduced ‘Easy Payment Plan’, a unique offering enabling consumers to book their dream holiday with just a token payment of 10 per cent. The balance 90 per cent can be made prior to receiving the final handover of their travel related documents, before departure. The Easy Payment Plan is valid for all bookings made up to November 30, 2019, says a press release.

11.35 am

Zee Entertainment’s preference shares downgraded to ‘AA+’ by Brickwork ratings

Brickwork Ratings (BWR) India Pvt Ltd has downgraded the credit rating of Zee Entertainment Enterprises Ltd’s (ZEEL) 6 per cent Cumulative Redeemable Non-Convertible Preference Shares aggregating ₹1210.16 crore from ‘AAA’ to ‘AA+”. Read more here

11.26 am

Brokers call: Cera Sanitaryware (Buy)

Cera Sanitaryware (CRS) reported weak quarter with flat revenue growth y-o-y (negative 4 per cent vs our est.) led by 9.3 per cent decline in sanitary-ware (SW) segment while faucet-ware (FW)/tiles segments grew by 5.4 per cent/4.6 per cent respectively. Growth was impacted from severe floods in southern states of India which contribute about 40-45 per cent of sales.

11.06 am

Bharti Airtel shares hit a 52-week high of ₹435; Vodafone Idea up 25%

Bharti Airtel shares hit a 52-week high of ₹435, while that of Vodafone Idea rose up 25 per cent in early trade on Tuesday after the incumbent telecom firms announced plans to hike headline tariffs.

At 11.05 am, Bharti Airtel shared were up 5.91 per cent at ₹433.35 and that of the Vodafone India was trading at 25.84 per cent at ₹5.60 on the BSE. Vodafone India shares had hit a 52-week low of ₹2.61 on November 15, according to stock exchange data.

On Tuesday, Reliance Communications hit a 52-week low of ₹0.55, after recording a 3.51 per cent fall.

 

10.55 am

Tata Steel outlines proposals to transform European business

Tata Steel on Monday outlined proposals for a transformation programme in Europe. The plan is needed to ensure the business can thrive despite severe market headwinds which have led to a sharp decline in profitability. At the same time, it aims to secure the foundation for investments required to accelerate innovation and the company’s journey towards carbon-neutral steelmaking.

Tata Steel highlighted plans to urgently improve its financial performance to make sure the European business becomes self-sustaining and cash positive while enabling investment to safeguard its long-term future. The plans include a proposed new way of working to boost productivity and reduce bureaucracy as well as a focus on increasing sales of higher-value steel products and solutions.

10.50 am

Sterling and Wilson Solar: All you need to know about the company’s troubles

terling and Wilson Solar, the first company from the Shapoorji Pallonji stable that got listed recently, has seen its share price fall dramatically from Rs 537 to Rs 289 (hitting two sessions of lower circuit). Sterling and Wilson Solar is a solar EPC (engineering, procurement, and construction) solutions provider and its promoters are Shapoorji Pallonji Group and Khurshed Y Daruvala. Here’s what transpired

 

10.40 am

A health check of NBFCs points to prolonged trouble

The health of India’s shadow banks remained weak last month as a credit crisis continued to sting.

Among four indicators compiled by Bloomberg News covering areas including liquidity and share performance, three were stuck in the same position as the previous month, with two at levels indicating weakness. Read the full story here

10.15 am

Institutional activities: Foreign institutional investors offloaded shares worth Rs 270.66 crore in the capital market in the previous session, while domestic institutional investors purchased equities worth Rs 309.45 crore, data available with stock exchange showed.

10.10 am

Rupee slips 16 paise, touches 72/USD level in early trade

The Indian rupee opened on a cautious note and fell 16 paise to 72 per US dollar in early trade on Tuesday amid rising demand for the US dollar vis-a-vis other currencies overseas and unabated foreign fund outflows.

At the interbank foreign exchange, the rupee opened at 71.97 then fell to 72 against the US dollar, showing a decline of 16 paise over its previous close. The on Monday had closed at 71.84 against the US dollar.

10.06 am

Daily Rupee call: Buy with stop-loss at 71.3

The rupee opened higher yesterday at 71.65 versus its previous close of 71.79 against the dollar. After an initial uptick, the Indian currency started to decline from the resistance at 71.6 and closed the day lower at 71.84. Click here to read the technicals

9.56 am

Will Siemens declining trend in PAT arrested?

The board of Siemens will meet on Tuesday to consider the audited financial results along with segment-wise report for the financial year ended September 30, 2019 and recommendation of a dividend on equity shares, if any.

Shareholders would keenly watch the management comments and key financial ratios, as Siemens has been posting a decline in profits. Siemens had posted a PAT of ₹893.90 crore in FY18 and revenues of ₹3,198.40 crore.

9.45 am

CCI nod for division sale may boost Welspun Corp

Shares of Welspun Corp will remain in focus, as the Competition Commission of India has approved the company’s plan to sell plates and coils mills division to Laptev Finance for ₹848.50 crore. PCMD has been identified as a non-core asset and the company has entered into an agreement to divest it, Welspun had said. By selling the division, Welspun is expected to move towards an asset-light model to achieve improvement in its profitability and return ratios.

9.38 am

Gold continues to remain under downward pressure

Gold, punters’ eternal favourite, continues to remain under pressure. Last week, price fell to a three-month low briefly breaking below $1,450 a troy ounce as forecast in these columns. In other words, the metal has shed about $100/oz from the early-September highs. Read more here

9.34 am

Oil prices fall more than 1 per cent on uncertainty over US-China trade talks

Oil prices fell more than 1 per cent, erasing much of last week's gains and tumbling alongside US stocks on uncertainty over a trade deal between the United States (US) and China.

Brent crude futures settled at $62.44 a barrel, down 86 cents, or 1.4 per cent. West Texas Intermediate (WTI) crude ended 67 cents, or 1.2 per cent, lower at $57.05 a barrel.

9.30 am

New order bodes well for Allied Digital

Allied Digital Services has bagged Smart City project for Aurangabad in consortium with KEC (RPG Group company). The project is expected to be executed in 12 months and operations and maintenance will run for 60 months. The capital expenditure will be realised in 12 months and the operational expenditure over 60 months, the company said.

Though it did not disclose the deal size, shareholders will closely monitor further disclosures and execution.

9.20 am

Opening bell: It is a positive start for the benchmark indices on November 19 with Nifty opened around 11,900 level.

At 09:15 am, the Sensex is trading up 171.17 points at 40,455.36, while the Nifty is higher by 34.95 points at 11,919.45.

Bharti Airtel, Bharti Infratel, Grasim, IndusInd Bank and Tata Steel are trading higher, while on the other hand Yes Bank, Zee, Hindalco, HCL Technologies and Kotak Mahindra Bank are among the major losers.

Among the sectors, except for Nifty Pharma, all other sectors are trading flat with negative bias.

9.14 am

Day Trading Guide for November 19, 2019

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

₹1262 • HDFC Bank

S1

S2

R1

R2

COMMENT

1260

1247

1285

1300

The stock is trading near a considerable support. Hence initiate fresh long position with tight stop-loss.

 

₹705 • Infosys

S1

S2

R1

R2

COMMENT

695

685

715

725

Fresh long positions are recommended with a stiff stop-loss only if the stock advances above ₹715 levels

 

₹250 • ITC

S1

S2

R1

R2

COMMENT

250

247

256

259

Since near-term outlook is weak for the stock, sell below the support at ₹250 with tight stop-loss.

 

₹134 • ONGC

S1

S2

R1

R2

COMMENT

133

130

139

142

Short-term view for the stock is bearish and hence initiate short positions on rallies with stop-loss at ₹139

 

₹1459 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1458

1450

1475

1490

Reliance is trading near a support. Wait and initiate buy orders in the stock above ₹1465 with stop-loss at ₹1455

 

₹325 • SBI

S1

S2

R1

R2

COMMENT

321

313

330

335

The near-term outlook is positive for the stock. But initiate buy only above ₹330 and place stop-loss at ₹325

 

₹2152 • TCS

S1

S2

R1

R2

COMMENT

2150

2130

2170

2220

Short-term trend might have turned bearish and so inititate sell order below ₹2150 with stop-loss at ₹2170

 

11920 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11900

11850

11950

12000

Initiate fresh long positions with a tight stop-loss only if the contract rallies above 11,950 levels

 

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

9.10 am

Today's pick - Deccan Cements Limited (₹322): Sell

The stock of Deccan Cements attempted to reverse the long-term bear trend during the first half of the current year. But the stock topped out at ₹480 levels in June, from where it began the next leg of downtrend. After marking the then 52-week low of ₹331 in August, the stock recouped some of its losses and appreciated to ₹409 in September. But then, the trend again reversed abruptly, and the stock tumbled, forming consecutive lower peaks. Click here to read the technicals

9.05 am

Asian shares trade flat as China-US trade talks doubts creep back in

Asian shares started Tuesday softer as another day awaiting clearer news on the progress of U.S-China trade negotiations weighed on jaded investors' sentiment.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.1%.

Japan's Nikkei was 0.2% lower in early trade. Australia's S&P/ASX 200 index was flat and trading volumes were light. E-Mini futures for the S&P 500 fell 0.05%, although that followed another record-high close on Wall St on Monday.

Published on November 19, 2019