Sensex settles 202 points lower at 41,257, Bharti Airtel spurts 4 per cent

Nifty skids 61 points to 12,113

 

3:45 pm

Closing bell

The Sensex and the Nifty closed the week in negative territory. The Sensex ended Friday's session at 41,257, a drop of 202 points or 0.49 per cent. The Nifty finished at 12,113, down 61 points or 0.50 per cent.

The top gainers on the Sensex were Bharti Airtel (up 4.29 per cent), HCL Tech, ICICI Bank, Reliance and Tech Mahindra. The laggards were IndusInd Bank, Power Grid, SBI, NTPC and M&M.

The majority of BSE sectoral indices closed in the red. The telecom index was the exception, jumping 2.50 per cent. On the other hand, the power and utilities index dropped over 2 per cent during the session, followed by the FMCG, auto, banking and metal indices (which were down over 1 per cent each).

 

 

3:10 pm

European shares scale record even as coronavirus shows no signs of peaking

 

European shares touched record highs on Friday as investors digested whether China's coronavirus outbreak would cause long-lasting damage to the global economy.

Europe's broad Euro STOXX 600 clawed up 0.1 per cent to follow Asian markets higher in choppy early trading, even as indexes in Paris and London both fell 0.2 per cent. Click here to read more on the European markets.

2:50 pm

Euro skids to new low ahead of GDP data, dollar shines

 

The euro eased to another nearly three-year low on Friday as investors worried about slowing growth momentum in the euro zone ahead of an estimate of how its economy performed in the fourth quarter.

The European single currency has lost 1 per cent so far this week and is on track for its worst two-week performance since mid-2018. Fourth-quarter gross domestic product data is due at 1000 GMT - economists polled by Reuters expect 0.1 per cent quarter-on-quarter growth, the same as the previous 3-month period. Click here to read more on the global forex market.

2:30 pm

Oil prices stabilise, set for weekly gain on hopes for supply cut

 

Oil prices edged higher Friday, on track for their first weekly gain in six weeks, backed by expectations that major producers will implement deeper output cuts to offset slowing demand in China caused by the coronavirus epidemic.

Brent crude futures were up 13 cents at $56.47 a barrel by 0731 GMT, after gaining 1 per cent in the previous session. Brent is 3.7 per cent higher for the week, the first increase since the week of January 3. Click here to read in full the oil markets report.

2:15 pm

Maruti launches BS-VI compliant CNG variant of WagonR, price starts at Rs 5.25 lakh

 

Maruti Suzuki India on Friday launched S-CNG variant of its BS-VI compliant new WagonR price starting at Rs 5.25 lakh in line with its aim to sell one million green vehicles in the next couple of years. Click here to read in full the launch of BS-VI compliant CNG variant of WagonR.

1:55 pm

Nifty call: Go long on strong rally above 12,175 levels with fixed stop-loss

 

The Sensex and Nifty started the session with a gap-up open in today's session, amid mixed cues from the Asian markets. The Nikkei 225 has fallen 0.6 per cent to 23,687, whereas the Hang Seng index has advanced by 0.4 per cent to 27,828 levels. Click here to read more on the Nifty call report.

1:40 pm

 

1:00 pm

Sensex, Nifty down but off lows

The Sensex and Nifty trimmed their morning losses by mid-session on Friday.

The Sensex was at 41,400, down 59 points or 0.14 per cent lower than its overnight close.

The Nifty was at 12,156, down 17 points or 0.15 per cent lower.

The top gainers in the Sensex pack were Bharti Airtel (up 4 per cent), Reliance Industries (1.61 per cent), HCL Tech (1.19 per cent), Bajaj-Auto (0.96 per cent) and ICICI Bank (0.91 per cent).

The laggards were IndusInd Bank (down 2.45 per cent), Power Grid (1.92 per cent), ONGC (1.61 per cent), NTPC (1.56 per cent) and ITC (1.53 per cent).

12:50 pm

Vodafone Idea shares tank nearly 19 per cent

Vodafone Idea recorded a loss of Rs. 50,921 crore in Q2, the highest-ever for a corporate in India

 

Shares of Vodafone Idea (VIL) on Friday tumbled nearly 19 per cent after the company reported a widening of losses to Rs 6,438.8 crore in the third quarter of 2019-20.

The scrip tanked 18.30 per cent to Rs 3.66 on the BSE. On the NSE, it dropped 18.88 per cent to Rs 3.65.

Vodafone Idea on Thursday reported widening of losses to Rs 6,438.8 crore in the third quarter of 2019-20 against Rs 5,004.6 crore a year ago, as the telco continued to sound warnings on “material uncertainty” casting “significant doubt” on its ability to continue as a going concern.

The company’s ability to continue as a going concern is essentially dependent on a positive outcome of its modification application in the Supreme Court on the adjusted gross revenue (AGR) matter and any relief from the Telecom Department on payments, it said.

For the three months ended December 2019, the company’s total income fell by 5 per cent to Rs 11,380.5 crore from Rs 11,982.8 crore a year ago. - PTI

12:35 pm

Asian shares poised to register second week of gains amid virus scare

 

Asian shares inched higher on Friday, on course to post the second straight week of gains, helped by hopes governments will make provisions to soften the impact on their economies from the coronavirus epidemic.

European shares are expected to rise, with pan-European Euro Stoxx 50 futures up 0.21 per cent, German DAX futures adding 0.3 per cent and FTSE futures ticking up 0.21 per cent.

MSCI's broadest index of Asia-Pacific shares outside Japan ticked up 0.25 per cent on Friday for a weekly gain of 1.77 per cent. Click here to read in full the Asian markets report.

 

12:20 pm

LIC IPO: Correct valuation tops agenda, says Chairman

MR Kumar, Chairman, LIC   -  Radhika Merwin

 

With the Budget announcement setting off the process for listing insurance behemoth LIC, the life insurance space is buzzing with activity. LIC has delivered a robust performance over the past year, gaining substantial market share. A huge investment book of ₹31-lakh crore, and strong agency network comprising about 12 lakh agents, is a big positive for the insurer, slated to hit the primary market in the end of FY21. MR Kumar, Chairman, LIC, told BusinessLine in an interview that arriving at a proper valuation, keeping in mind the size and structure of the organisation, will be critical. Click here to read in full the interview with LIC Chairman MR Kumar.

12:05 pm

Yen edges up on virus woes, euro hounded before GDP data

 

The Japanese yen held gains against the dollar on Friday, as fresh doubts about the scale of the coronavirus outbreak supported demand for safe-haven currencies.

The Chinese yuan nursed losses as the flu-like virus, which emerged late last year in China's central Hubei province, cast a deeper shadow over the economic outlook. Click here to read more on the global forex markets.

11:45 am

Gammon Infrastructure Q3 loss widens to ₹51 crore

Gammon Infrastructure Projects on Friday reported widening of its consolidated loss at ₹51.24 crore for the quarter ended December 2019.

The company had posted a consolidated loss of ₹21.16 crore in the year-ago period, Gammon Infrastructure Projects said in a filing to BSE. Click here to read in full the Gammon Infrastructure results report.

 

11:30 am

Growing interest in vegetable protein will fuel demand for pulses: GPC’s Cindy Brown

 

The Global Pulse Confederation (GPC) is the apex body of pulses traders across the world. BusinessLine caught up with Cindy Brown, GPC President, at the India Pulses Conclave, 2020, to find about the latest trends in the global pulses arena. Brown says the increasing interest of the food industry in vegetable protein will drive demand for pulses. Click here to read the full interview with GPC's Cindy Brown.

11:15 am

GMR Infra pares Q3 loss to ₹279 cr; airport verticals fare well

GMR Infrastructure has posted a lower loss of ₹279 crore for the third quarter ended December 31, 2019 against a loss of ₹542 crore in the corresponding quarter of the previous year.

The diversified infrastructure company logged total revenue of ₹2,196 crore for the December quarter against ₹1,958 crore on a consolidated basis. Click here to read in full the GMR Infra results report.

11:00 am

Asian shares tick up, aim for second week of gains amid virus scare

 

Asian shares edged up on Friday, on course to post the second straight week of gains, helped by hopes governments will make provisions to soften the impact on their economies from the coronavirus epidemic.

MSCI's broadest index of Asia-Pacific shares outside Japan ticked up 0.3%, led by gains in Hong Kong and South Korea. On the week, the pan-regional index was up 1.94%. Click here to read more on the Asian markets.

10:45 am

Rupee slips against US dollar in early trade

 

The rupee fell marginally by 2 paise to 71.33 against the US dollar in opening trade on Friday, amid strengthening of the American currency in the overseas market.

Forex traders said rupee traded in a narrow range as strengthening of the US dollar weighed on the local unit, while easing crude oil prices, positive opening in domestic equities and foreign fund inflows gave support and restricted the fall. Click here to read more on rupee trade.

 

10:30 am

Oil prices steady but set for weekly gain on supply cut optimism

 

Oil prices were steady on Friday but are set for their first weekly gain in six weeks on the assumption major producers will implement deeper output cuts to offset slowing demand in China, the world's second-largest crude user. Click here to read more on the global oil markets report.

10:20 am

Daily rupee call: Tread with caution

 

The rupee (INR) on Thursday witnessed considerable volatility against the dollar (USD). The domestic currency, after weakening in the first half of the session, rallied in the latter half and recouped its intraday loss. On close-to-close basis, the rupee stayed flat where it closed at 71.31 versus its previous close of 71.33. Click here to read more on the Daily Rupee Call report.

 

9:55 am

Sensex, Nifty reverse downtrend

The Sensex and Nifty reversed Thursday's downtrend trend to open in postive territory on Friday.

In early trade, the Sensex was trading steady with gains of 141 points or 0.34 per cent at 41,601. The Nifty was at 12,229, up 54 points or 0.45 per cent firmer.

The top gainers on the Sensex were UltraTechCement, Asian Paints and Bajaj Auto (up 1 per cent), Sun Pharma and HCL Tech. The laggards were ONGC, NTPC, IndusInd Bank, ITC and M&M.

According to an agency report, the Sensex jumped over 200 points in opening session on Friday driven by gains in HDFC twins, ICICI Bank and Infosys amid strong foreign fund inflows.

In the previous session, Sensex settled 106.11 points or 0.26 per cent, lower at 41,459.79, and Nifty dropped 26.55 points or 0.22 per cent to close at 12,174.65.

On a net basis, foreign institutional investors bought equities worth Rs 1,061.39 crore, while domestic institutional investors sold shares worth Rs 960.48 crore on Thursday, data available with stock exchanges showed.

According to traders, domestic equities advanced tracking significant foreign fund inflow ahead of the release of wholesale inflation data. 

 Globally, concerns over rising cases of coronavirus patients kept investors on edge, they said. 

 Bourses in Shanghai, Hong Kong and Seoul were trading on a positive note, while those in Tokyo slipped in the red.  Stock exchanges on Wall Street closed with losses on Wednesday.

 Meanwhile, the rupee depreciated 5 paise against the US dollar to 71.31 in morning session. Global crude benchmark Brent slipped 0.12 per cent to USD 56.27 per barrel. (with inputs from PTI)

 

9:30 am

What to Watch: Eyes on ADAG cos, ONGC, Amtek Auto results

Over 300 companies will declare their quarterly results on Friday. Among these are Ador Welding, Amtek Auto, Balkrishna Ind, BF Utilities, Cera Sanitaryware, CG Power, Future Enterprises, Glenmark, Jain Irrigation, Lakshmi Vilas Bank, MMTC, MTNL, ONGC, Opto Circuits, OMDC, Parsvnath, Pfizer, Panacea Biotec, RCom, Reliance Capital, Reliance HF, Reliance Infrastructure, Reliance Power, Ruchi Soya, SAIL, SpiceJet, Sun TV, Tide Water Oil, Warren Tea and Zuari Global.

Indo Tech Transformers: Open offer today

The open offer to the public shareholders of Indo Tech Transformers from Shirdi Sai Electricals (acquirer) opens for subscription on February 14; it will close on March 2. The price is fixed at ₹115.60 a share. It plans to acquire 27.24 lakh shares (25.65 per cent of the total paid-up capital). The offer is mandatory after the acquirer and Prolec GE International, S.De R.L. De C.V. (seller/promoter) in December had entered into a pact to acquire 73.66 lakh shares (69.36 per cent) at ₹94.51 apiece.

DMart: Damanis to sell through OFS on Friday

Promoters of Avenue Supermarts (owners of DMart) — Radhakishan S Damani, Gopikishan S Damani, Shrikantadevi R Damani and Kirandevi G Damani — plan to sell 1.48 crore shares (2.28 per cent of the total paid-up equity share capital) through the offer-for-sale window on the stock exchanges. While the OFS opens for subscription on Friday for non-retail investors, small retail investors can bid on February 17. The floor price for the offer has been fixed at ₹2,049 a share.

 

9:15 am

Opening bell

The benchmark indices, the BSE Sensex and the NSE Nifty, opened Friday's session in the green.

The Sensex was at 41,619, up 159 points or 0.38 per cent, while the Nifty rose to 12,217, up 42 points or 0.35 per cent.

9:10 am

Day Trading Guide for Friday, February 14, 2020

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

₹1241 • HDFC Bank

S1

S2

R1

R2

COMMENT

1227

1213

1255

1270

Fresh short positions can be initiated with a fixed stop-loss if the stock fails to move beyond ₹1,255 levels

 

₹792 • Infosys

S1

S2

R1

R2

COMMENT

785

777

800

810

Near-term stance is positive for the stock. Buy in declines while maintaining a stiff stop-loss at ₹785 levels

 

₹211 • ITC

S1

S2

R1

R2

COMMENT

209

206

215

218

Initiate fresh short positions with a tight stop-loss if the stock of ITC falls below ₹209 levels

 

₹105 • ONGC

S1

S2

R1

R2

COMMENT

103

100

108

111

Consider initiating fresh short positions with a fixed stop-loss only if the stock declines below ₹103 levels

 

₹1473 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1460

1445

1485

1500

Initiate fresh long positions with a tight stop-loss only if the stock of RIL reverses higher from ₹1,460 levels

 

₹327 • SBI

S1

S2

R1

R2

COMMENT

321

315

333

340

Last session, the stock managed to rally on the back of buying interest. Buy in declines with a stop-loss at ₹321

 

₹2191 • TCS

S1

S2

R1

R2

COMMENT

2170

2150

2210

2230

Make use of intra-day dips to buy the stock of TCS while retaining a fixed stop-loss at ₹2,170 levels

 

12174 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

12125

12075

12225

12275

Fresh short positions can be initiated with a tight stop-loss only if the contract declines below 12,125 levels

 

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

 

9:00 am

Today's Pick: Karnataka Bank (₹79.1): Buy

 

The stock of Karnataka Bank jumped 7 per cent accompanied by extraordinary volume on Thursday, breaching a downward sloping trend-line and also 21- as well as 50-DMAs decisively. This rally provides investors with a short-term perspective an opportunity to buy the stock at current levels. Click here to read in full Today's Pick on Karnataka Bank.

 

 

 

Published on February 14, 2020