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CLOSING BELL
Key market indices ended with losses amid broad based selling pressure from domestic investors. The sentiment turned negative tracking mixed trend in other Asian markets.
The Sensex fell 157.89 points or 0.44% to settle at 35,876.22. The index ranged between a high of 36,109.10 and 35,799.42 during intraday.
The Nifty 50 index too lost 47.60 points or 0.44% and ended at 10,746.05.
Sectors such as IT, Oil & Gas, Manufacturing Telecom and PSU ended lower, while Auto, , Banking and Capital Goods posted gains on value buying at lower levels.
Banking index ended higher mainly led by YES Bank. The BSE Bankex rose 232.28 points and settled at 30,178.77. YES Bank stock soared Rs 51.95 or 31% and ended at Rs 221 on the BSE.
The market breadth, indicating the overall health of the market, was weak.
On the BSE, out of 2,654 scrips traded today, 1,174 shares advanced against 1,357 shares declined.
Largecap Stocks on BSE
MID & SMALLCAP LOSERS ON NSE
MIDCAP LOSERS on NSE
MID & SMALLCAP GAINERS ON NSE
MIDCAP GAINERS on NSE
NIFTY NEXT 50 LOSERS
NIFTY NEXT 50 LOSERS
NIFTY NEXT 50 GAINERS
NIFTY NEXT 50 GAINERS
YES Bank leads in Bankex rally
Banking stocks bucked the overall weak trend today. The BSE Bankex was up 236 points at 30183.22. The banking index was led by YES Bank, which rose 28%, Bank of Baroda 1.70%, ICICI Bank 1.35% and IndusInd Bank 1.30%
BANKING STOCKS
Large-cap Stocks on BSE
TOP GAINERS ON NSE
TOP GAINERS ON NSE
TOP LOSERS ON NSE
TOP NSE LOSERS
Markets remained weak on lack of buying support from domestic investors amidst selling by institutions. The BSE Sensex declined 120 points at 35,914.19, while the Nifty, on the NSE, lost 39.30 points at 10,754.35.
Largecap stocks
Broker's call
Reliance Securities
Ramco Cements - Buy
Target Price Rs. 700/-
Ramco Cements is likely to witness healthy traction here-on led by recent price recovery in the Southern markets and sustained demand improvement in its key markets. Capacity expansion of 6.2mnT (44% of existing capacity) at Rs 5,550 or US$78 per tonne without sweating its B/S with DE at 0.3x (TRCL expects its interest bearing debt to peak out at Rs 15bn from Rs 8.7bn in FY18) bodes well for the company.
Further, continued traction in sales volume will aid Ramco Cement to register 11% CAGR in EBITDA through FY18-FY21E. Notably, benefits of higher axle norms (as 90% of freight happens through roads) and likely savings led by higher utilisation are likely to help in saving operational cost.
Reliance Securities give a BUY rating on the stock with a Target Price of Rs 700.
Related Stories
Ramco Cements on a ₹3,430-cr capacity expansion drive
Sees robust demand for cement, thanks to infra push
The Nifty Call: Nifty 50 February Futures (10,764) - Sell in rallies
The February month Nifty futures contract began the session in negative territory, with a gap-down open at 10,801. After marking an intra-day high at 10,803 the contract resumed its downtrend witnessing selling pressure at higher levels. The contract has registered an intra-day low at 10,755 levels. The near-term outlook will remain bearish as long as the contract trades below the key resistance level of 10,800.
NIFTY FEB FUTURES QUOTE
BSE SECTORAL INDICES
BSE SECTORAL INDICES
ONGC hits near 3-yr low; chart suggests more downside
Shares of oil explorer Oil and Natural Gas Corporation fell as much as 1.8 per cent to ₹ 131, their lowest since March 3, 2016
The stock has broken below the support level at ₹134.65, the 138.2 per cent Fibonacci projection level of the downtrend from January 31, 2017 high to June 27, 2017 low. READ MORE
Related Stories
Oil PSU capex drops to 4-year low for 2019-20
The state-owned oil firms to invest up to Rs 94,438 crore
CURRENT MARKET TREND
• NIFTY (10754) near-term metrics trigger sell signal, sentiments could deteriorate further.
• BANKNIFTY (26964) weak on near-term basis.
• The market breadth of Indian equities remained negative for the fourth trading session in a row.
• FIIs were net sellers for the second continuous day, while the DIIs turned net buyers.
• The market internals of global equities display mixed signals, while the overall breadth was positive for the second trading day.
ADVANCES/DECLINCES ON NSE
Nifty 50 stocks
Buy ITC above ₹280 levels
BSE STOCK WATCH -TOP GAINERS
BSE- STOCK WATCH -TOP GAINERS
Top 25 Volume Gainers
Sell ONGC with stop-loss at ₹137
LARGECAP STOCKS ON BSE
Largecap stocks on BSE
Buy TCS above ₹2,050 levels
Related Stories
TCS Q3 net grows 24.1 per cent to Rs 8,105 cr
Sees revenue growth at 12.1% on constant currency basis; declares third interim dividend of Rs 4/share
Broker's Call: Hindalco (Buy)
Narnolia Financial Advisors
CMP: ₹197.85
Target: ₹240
Novelis revenue growth of 3 per cent y-o-y was off the usual trend of recent quarters due to muted volume y-o-y at 800 kilo tonne (versus796 kt in 3QFY19) led by slowdown in auto sector in China and the UK, however at EBITDA level performance was stable with adjustaed EBITDA at $322 million (up 6 per cent y-o-y, down 9 per cent q-o-q) and margins at 10.7 per cent (vs10.4 per cent in 3QFY19 and 11 per cent in 2QFY19) led by operational efficiencies, optimal product mix and cost management.
At standalone level (ex-utkal) margins contracted further to due to higher input cost and higher other expenses with EBITDA at Rs.928cr (down 29 per cent y-o-y and 15 per cent q-o-q) and margins at 8 per cent (vs 12 per cent in 3QFY18 and 10 per cent in 2QFY19), however standalone plus Utkal EBITDA was at ₹1,717 crore (up 7 per cent y-o-y, down 2 per cent q-o-q) and margins were at 21.4 per cent (vs 22 per cent in 3QFY18 and 22 per cent in 2QFY19).Though we are positive on Hindalco led by its integrated Indian business with focus on increasing VAP share, strong performance at Novelis, capacity addition at Novelis and we believe Aleris acquisition is also a positive.
Related Stories
Hindalco Q3: Subdued demand weighs on earnings
Increased costs also play spoilsport
Go Short in Nifty 50 Feb Futures if falls below 10,775
10823 • Nifty 50 Futures
Broker's call
JM Financial
Container Corporation (Hold)
Target Price Rs 550
Container Corporation (Concor) reported adjusted PAT of Rs 2.14bn, down 19% QoQ , as higher empties, price discounts and lower exports volume (recovered in December) offset the price hikes (transportation and service charge). EXIM handling volumes declined 7% QoQ (-9% on originating basis). Concor maintains its earlier 12% volume growth guidance. The Concor stock gained 2.54% at Rs 501.40 on the NSE
JMFL maintainS Hold with a March'20 Target Price of Rs 550.
While we like Concor’s market leadership (biggest beneficiary of upcoming dedicated freight corridor (DFC)), we are constrained by its expensive valuation and delayed benefits of coastal shipping and multimodal logistics parks (MMLPs).
One can await for a better price point to make entry (currently trades at 15.8x of FY20E EV/EBITDA).
Key risk is lower-than-expected EXIM volume growth and a sharp haulage charge increase by Indian Railways.
Related Stories
Concor to build and run grain silos for Food Corporation
Diversifies into distribution logistics
10.55 am
BSE SECTORAL INDICES
BSE SECTORAL INDICES
10.35 am
YES Bank shares climb 22%
YES Bank shares surged 22 per cent or Rs 34 to Rs 206 in early trade on the NSE. Volumes traded in the counter were around 12.47 crore shares.
TOP NSE GAINERS
TOP GAINERS ON NSE
Equity market indices showed weakness in early trade due to fresh selling from investors.
The BSE benchmark Sensex breached the 36,000-mark and declined 133 points to 35,901.33.
At the NSE, the Nifty was down by 49.65 points to 10,744.
TOP NSE LOSERS
LARGECAP STOCKS ON BSE
Largecap stocks on BSE
Buy TCS if stock reverses higher from ₹2,050 levels
Related Stories
TCS Q3 net grows 24.1 per cent to Rs 8,105 cr
Sees revenue growth at 12.1% on constant currency basis; declares third interim dividend of Rs 4/share
Company news: Larsen & Toubro
The buildings and factories business of Larsen & Toubro — L&T Construction, has secured a design and build order for construction of hospitals from a private developer in India. This is a first-of-its-kind private sector project that incorporates National Disaster Management Authority guidelines and will have base isolators in the foundation to withstand the worst-case seismic scenarios, L&T said in a statement to the exchanges.
ONGC, MMTC, Jet Air results today
Over 250 companies will declare their Q3 FY19 results on Thursday. Among these are Ashok Leyland, Bharat Dynamics, Cox & Kings, Dalmia Bharat, Deep Ind, Glaxo Consumer, Glenmark Pharma, GMR Infra, HDIL, IFCI, India Tourism, IB Real Estate, Jet Airways, JK Tyre, JMT Auto, KSK Energy, MEP Infra, MMTC, ONGC, Parsvanath, Puravankara, Reliance Home Fin, Steel Strips Wheels, Surya Roshini, Tata Teleservices, Uniply, Unitech, UB, Videocon and Voltas.
Related Stories
Oil PSU capex drops to 4-year low for 2019-20
The state-owned oil firms to invest up to Rs 94,438 crore
Related Stories
Four Jet Airways aircraft grounded due to non-payment
The airline owes money to its pilots, lessors, banks and vendors
Related Stories
Ashok Leyland gets set for electric bus drive in Ahmedabad
Charts out strategy for ‘selective’ play in mass transport
Related Stories
Ashok Leyland in a medium-term downtrend
A break below ₹90-92 can drag the stock down to the ₹75-80 support range
Q3 Earnings Update
* Gulf Oil Lubricants (YoY): Revenue up 29.8 % at INR 4.62 bn. Net profit up 17.2 % at INR 498mn. Ebitda up 18.7 % at INR 730mn. Margin at 15.8 % versus 17.3 %.
* Fortis Healthcare (YoY): Revenue down 1.6% at INR 11.03bn. Net loss at INR 1.97bn versus net loss at INR 368mn. Ebitda down 26.4% at INR 380mn. Margin at 3.4 % versus 4.6 %.
* Lemon Tree Hotels (YoY): Revenue up 8.3 % at INR 1.43bn. Net profit up 38.9 % at INR 125 mn. Ebitda up 14.7% at INR 491mn. Margin at 34.2% versus 32.3 %.
* Oracle Financial Services (QoQ): Revenue down 2.3 % at INR 11.85bn. Net profit down 13.1% at INR 3.06bn. Ebitda up 0.2 % at INR 4.99bn. Margin at 42.1 % versus 41.1 %.
* Prabhat Dairy (YoY): Revenue up 14.6 % at INR 4.63 bn. Net profit down 32.4 % at INR 100mn. Ebitda flat at INR 375 mn. Margin at 8.1 % versus 9.3 %.
* NBCC (YoY): Revenue up 29.3% at INR 24.39bn. Net profit up 22.4 % at INR 836mn. Ebitda down 16.1% at INR 708mn. Margin at 2.9 % versus 4.5 %.
Related Stories
NBCC to construct hospital in Goa for ₹268 cr
It will also have hostel facility, with 67 rooms for doctors and 91 rooms for 182 students
Rupee falls 14 paise against US dollar in early trade
The Rupee depreciated 14 paise to 70.94 against the US dollar in opening trade at the interbank forex market Thursday on increased demand for the greenback from importers and banks amid rising global crude prices. READ MORE
Initiate Short in SBI with stop loss at ₹274 level
Go Short in Reliance Ind below ₹1,230 levels
Eicher Motors revv up
Shares of Eicher Motors has gone up nearly 1 per cent or Rs 197 to Rs 20,356 today on reports that the company would ould double the production of the 650 twins to 4,500-5,000 units a month from the current rate of around 2,500 a month.
Royal Enfield is doubling production of the 650 twins as its waiting period has shot up to six months. Launched in November, Royal Enfield's debut in the 650cc category with the Interceptor and Continental GT has been received encouragingly by all the markets including India.
Opening Bell
The BSE Benchmark Sensex opened lower in the opening session today. The Sensex slipped 95 points to 35,944.01, and the Nifty, on the NSE, too was down by 38.60 points at 10,755.05
Top losers were Bharti Airtel, Coal India, Kotak Bank, ICICI Bank, SBI and Reliance Industries, which fell between 0.90% and 2.50%.
However, automobile stocks such as Hero MotoCorp, Bajaj Auto and Tata Motors went up in a range between 1% and2.50%
Markets slipped at the pre-open trade today. The Sensex was down by 68 points at 35,955.41. The Nifty, on the NSE, too sheds 29 points at 10,764.90.
Day Trading Guide for February 14, 2019
Given below are supports and resistances for Nifty 50 futures and seven key stocks that can help in your intra-day trading:
₹2140 • HDFC Bank
₹754 • Infosys
Today's Pick: Cipla (₹543.5): Buy
Investors with a short-term perspective can buy the stock of Cipla at current levels. After an intermediate-term downtrend from the September 2018 high at around ₹678, the stock found support at ₹483 in late January this year. The stock subsequently changed direction triggered by a positive divergence in the daily moving average convergence-divergence and the weekly relative strength index. Since recording a 52-week low at ₹483, the stock has been in a near-term uptrend.
Wall Street advances on trade hopes, tame inflation data
Wall Street closed higher on Wednesday as investor optimism was stoked over hopes the United States and China could iron out a trade deal, and benign inflation data suggested the Federal Reserve would hold interest rates steady in the near term. READ MORE
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