Tag: Closing Bell

Nifty reclaims 10,700 levels, Sensex up almost 300 points

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Indian market on Monday closed at day’s high, tracking positive global cues.

The Sensex surged 293 points to 35,208, while the Nifty closed at 10,716, gaining 97 points.

Broader markets also moved in line with benchmarks. The Nifty Bank advanced 207 points to 25,852 and Midcap Index moved 148 points higher to 19,868.

Major stocks that helped market close at day’s high were Reliance, ITC, ICICI Bank and M&M, while TCS, HDFC Bank and Coal India have been major drags.

Anil Ambani-led Reliance group stocks were in focus on Monday’s trade after Reliance Infra won order of Rs 7,000 crore for the Bandra-Versova sea link project. Ajay Srivastava of Dimensions Corp Fin says, Q4 earnings are not showing a compelling growth picture. And, he does not see any fresh buying triggers.

On the earnings front, Exide Ind reported operationally strong earnings with margin coming in at 13.7% against the poll of 12.9%. Inox leisure reported sharp surge in profit on the back of tax returns for the last year. And, Vijaya Bank slipped from highs as provision coverage ratio slipped to 59.4% from 64.3%.

In the futures market, Put options continue to see more traction with the Nifty 10,600 and 10,500 Put calls adding 7 lakh and 3 lakh shares each in the open interest. The Nifty May Futures premium narrows to 26 points against Friday’s 41 points. Exide, Wockhardt and Ujjivan have the most active stocks in derivatives market.

On the global front, Asian markets closed mixed as WTI crude topped $70. The Nikkei and the Kospi ended in the red, while the Shanghai and the Hang Seng see a positive close.

Stocks: Exchange Announcements

Zee Learn Q4: Consolidated net profit up 0.6% at  Rs 17.4 crore; revenue up 34.3% at  Rs 89.8 crore (Y-o-Y)

Zee Learn Q4: Consolidated EBITDA up 81% at Rs 36 crore and margin at 40.2% against 29.8% (Y-o-Y).

Inox Leisure Q4: Consolidated net profit at 57.7 crore against CNBC-TV18 Poll of Rs 9 crore; one-time gain of Rs 53.7 crore.

Exide Q4: Net profit at Rs 189.6 crore against CNBC-TV18 poll of Rs 190 crore; EBITDA at Rs 338 crore against poll of Rs 312 crore and margin at 13.7% against poll of 12.9%.

Vijaya Bank Q4: Net profit at Rs 207.3 crore against Rs 204 crore. Gross NPA at 6.34% against 6.17% and Net NPA at 4.32% against 3.99%  and provision coverage ratio at 59.4% against 61.3% (Q-o-Q).

Dwarikesh Sugar Q4: Net loss at Rs 9.2 crore against profit of Rs 46 crore; EBITDA loss at Rs 12.3 crore against profit of Rs 120 crore (Y-o-Y).

Firstsource Q4: Profit at Rs 92.8 crore against Rs 99.5 crore, EBITDA margin at 14.7%  against 13.1% (Q-o-Q).

Infibeam  said they are acquiring Unicommerce eSolutions from Snapdeal for Rs 120 crore.

Karur Vysya Bank shareholding: Rakesh Jhunjhunwala buys Additional 20 lakh shares in January-March quarter.

Manpasand Bev and Parle joined hands to distribute brands in western markets.

Sadbhav Engg said the company bagged order worth Rs 317.1 crore from Southeastern Coalfields.

Sagar Cements said their consolidated April sales up 34.7% at 2.5 lakh tonne (Y-o-Y)

Stocks in Focus

Supreme Court on Monday refused to stay Delhi High Court order revoking patent claimed by Monsanto.

Nestle agreed to market Starbucks products globally.

Jaypee Infratech lenders meet on Monday to consider highest bid.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Closing Bell: Market closes in the red, Nifty closes above 10,600

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The market closed largely lower after a weak session in trade due to global cues. The indices shed 0.6% each.

The Sensex closed at 34,915 points, and the Nifty closed at 10,618 points with Sun Pharma being the major index loser throughout the day. Sun Pharma lost more than 3% in trade on Friday.

From all the major indices, Nifty Bank was the only index to end above the flatline, while the Nifty Midcap recovered from its low point of the day.

HCC, which plunged more than 20% in trade on Thursday, is now trading with gains of more than 7% after Ajit Gulabchand, HCC’s CMD, clarified that the firm’s subsidiary Lavasa is not filing for a bankruptcy. The company gained around a percent in the session.

Among the losers, Idea Cellular lost more than  2%. All the indices ended the day in the red.

On the global front, Hong Kong’s Hang Seng reported more than a percent loss in trade and China’s Shanghai reported a 0.30% loss.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Closing Bell: Market closes flat, Nifty below 10,700; HCL Tech, IndiGo lose

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The market closed flat backed by weak global cues with the Nifty closing below 10,700 at 10,679 points and the BSE Sensex at 35,103 points.

All the major indices closed in the red, except for the Nifty Bank which closed in the green as ICICI Bank and Axis Bank pulled up the index.

The two stocks, ICICI Bank and Axis Bank, gained more than 2% with the Nifty Bank gaining and reaching its day’s high in the intraday trade.

The market continued to trade lower in the second half of the trading hours, touching the day’s low.

The NSE Nifty was trading below 10,700 at 10,660 points and the BSE Sensex at 35,049 points.

HCL Technologies is among the top losers today by losing more than 7% in trade after posting disappointing Q4 results.

IndiGo too plunged 13% after its poor Q4 results.  The stock is currently losing 10% in trade.

HCC plunged more than 20% after the auditor for Lavasa Corporation raised concerns over the firm’s financial health.

Lavasa Corporation is a subsidiary of HCC.

The HCC management clarified on auditor’s report and said that it believes in a few points he made. The share plunged further to 26% minutes before the close.

Apart from Axis Bank and ICICI Bank, Bharti Infratel and Sun Pharma also surged in the trading session today.

The market had opened mixed with the BSE Sensex trading at 35,257 points and the NSE Nifty trading at 10,720 points.

The indices started to pull down in trade within minutes after the open, with the Sensex at 35,111 points and the Nifty below 10,700 at 10,689 points.

The Nifty Midcap is down by more than 150 points.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Markets close with gains; ITC among top gainers

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Indian markets recovered from opening lows to end the day on a high, despite global markets largely closing in the red.

The Sensex closed up 113 points at 34,305 after a 406-point trading range. The Nifty gained 48 points to 10,528. From broader markets, The Nifty bank and the Nifty Midcap indices gained more than 100 points each.

“Fair value for Nifty is at around 9,000 levels and Sensex for around 30,000,” Saurabh Mukherjea of Ambit said.  The market analyst said he doesn’t expect much from this earnings season, and that he doesn’t find current levels of market attractive.

HDFC twins and ITC contributed the most to upside, while Infosys dragged the most.

Most brokerages found margin guidance of 22-24% by Infosys for FY19 a bit conservative,  leading to over 3% fall in the stock. Other IT stocks had a strong day on the back of falling rupee.

Besides IT, there were some names including Kotak Mahindra Bank, which closed at a fresh 52-week high, with the bank surpassing SBI in market cap. In the midcap space, financials took the limelight, with Edelweiss Fin, Gruh Fin and M&M Fin being the top gainers.

In derivatives, the most active options were the 10,500 and 10,400 Puts and  both the options added 8 lakh and 6 lakh shares each in the open interest. Whereas, 10,200 & 10,000 Puts shed 6 lakh and 2 lakh shares each, Nifty April Futures premium widened to 18 points, from Friday’s level of 10 points.

On the global front, Asian markets largely closed in the red with the Hang Seng falling 493 points to 30,315. The Shanghai slipped 1.5%  and the Nikkei closed with a gain of 0.3%.

Stocks: Exchange Announcements

Aurobindo Pharma said its allergy drug, Loratadine  gets approval from US Food and Drug Administration.

HCL Infosystems Ltd said it has terminated an agreement to sell Dubai-based subsidiary HCL Infosystems MEA FZE to financial firm Axis Investment.

ACC said they got approval from its shareholders for transaction with Ambuja Cement under master supply agreement.

Steel Strips said they bagged another repeat order of 41,000 Caravan Wheels from Europe.

BHEL said they got R&M order for package at Ramagundam thermal unit for 137 crore.

UltraTech said they will consider issuing redeemable NCDs on private placement basis on April 25.

Stocks In Focus

Supreme Court allows CoC to finalise resolution plan for Jaypee Infra.

SC Stays NCLAT order that allowed sale of tower assets of Reliance Infratel

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Closing Bell: Markets close largely with gains; IT stocks take the lead

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The market ended largely in gains today with IT stocks taking the lead. The BSE Sensex ended at 34,000 levels at 34,101 points, and the NSE Nifty ended at 10,400 levels at 10,458 points.

IT stocks took the lead on Thursday with TCS, Tech Mahindra Infosys and HCL Tech among top index gainers. The stocks were among the biggest contributors to the indices throughout the day. The investors seem to be focusing on IT stocks as the Infosys results are due tomorrow.

MRF hit its record high in today’s session, among other gainers.

Dish TV was the top F&O gainer after the firm announced an open offer to sell 26% of its stake.

The Midcap stocks lost their sheen in trade today, resulting in the Midcap index ending lower.

The Nifty held on to its gains after a slight dip in the opening and posted a six-day winning streak.

The market breadth was slightly in favour of the declines with the advance-decline ration at 2:3.

The Nifty Bank ended higher with HDFC Bank and ICICI Bank contributing the most gains.

While, ICICI Bank, which was among the top index losers on Wednesday, pulled itself back among the top five index gainers.

Indian markets while approaching second half of the trading hours, recovered from their opening numbers.

Oil marketing companies faced pressure post the buzz that the government may ask the firms to absorb Re 1 per litre cost. As a result, they were among the top index losers.

The benchmark indices on Thursday opened comparatively lower with NSE Nifty at 10,400 points and BSE Sensex at 33,947 points.

The markets opened low due to weak global cues as the Asian markets were under pressure due to the oil price raise. The stocks came under pressure on Thursday as the threat of imminent US military action in Syria rattled investors.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Closing Bell: Markets close flat amid trade war fears; pharma among top gainers

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Markets closed flat, with a positive bias, amid global trade war fears with pharma, banks and oil marketing companies helping the indices to maintain the range today.

The corporate earning results lined up next week have also seemed to keep the markets in a tight range.

The BSE Sensex and the NSE Nifty maintained a tight range of 33,500-33,600 and 10,200-10,300 respectively. The Sensex closed at 33,627 points and the Nifty closed at 10,331 points.

The markets traded flat the whole session, where it slipped and extended losses for a brief period in intraday trading.

The markets, however, pulled up due to pharma, banks and oil marketing companies.

Among the pharma stocks – Lupin, Sun Pharma and Dr Reddy’s Labs – were the top index gainers. HPCL and BPCL were among the top oil marketing firms and ICICI Bank and HDFC Bank were the top gainers among the bank stocks. The two bank stocks – HDFC Bank and ICICI bank – contributed 80% of the gains to the Nifty Bank.

The Nifty Bank, Nifty Midcap gained over 100 points each in today’s session.

PSU banks started off weak, but later extended gains in the second half of the session, with PNB, OBC and Bank of Baroda among the top PSU stocks.

The market breadth remained in favour of the advances, with the advance-decline ratio standing at 3:2.

All the sectoral indices posted healthy gains this week and the Sensex and the Nifty gained about 2%.

Trade war fears

The global trade wars seem to persist where the US has announced a 25%  imposition of tariffs on steel and aluminium. China, in retaliation, has imposed tariffs on 128 US products.

Trump, on Thursday, announced that he was unhappy with China’s “unfair retaliation” and said that he had instructed the USTR (US Trade Representative) to consider whether $100 billion of additional tariffs would be “appropriate under section 301 and, if so, to identify the products upon which to impose such tariffs.”

The news shook the global markets, pushing Asian markets to trade sideways in the first half of the day.

In a recent news break, South Korea will seek to impose retaliatory tariffs on imported goods from the US. This is in response to its safeguard duties on Korean washers and solar products. The Chinese Commerce Ministry is also set to address on the global trade war at 5:30 pm  IST.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Closing Bell: Markets advance despite status quo policy; banks, infra among top index gainers

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The markets extended gains throughout the session today, supported by strong global cues,  with the benchmark indices closing at new highs despite the RBI maintaining status quo on the policy rates.

The NSE Nifty reached 10,325 points while the BSE Sensex closed at 33,584 points.

Bank stocks contributed to the market gains in the last hour when the RBI announced the deferment of the IndAS Implementation by a year.

The benchmark indices gained more than 1% while the broader indices surged by more than 2%. The market breadth was in favour of the advances with the advance-decline ratio at 6:1.

Infra, banks, financial and auto stocks were the top index gainers. The financials contributed 50% to the Nifty gains.  All the Nifty Bank stocks closed higher with ICICI Bank and Kotak Mahindra Bank among top gainers.

The put-call ratio improved to 1.37 from yesterday’s close which stood at 1.30.

The strong global cues lent a hand for the markets to reach their highs. After Tuesday’s session, the US markets made a comeback. Household goods makers, retailers and homebuilders led the way while technology companies reversed some early losses. The investors also began to relax after the US and China said that they will be willing to hold talks regarding the trade wars.

The NSE Nifty opened in 10,200 levels at 10,242 points and the BSE Sensex, which tanked 350 points in the previous session, bounced back to 33,360 levels.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Closing Bell: Markets bring cheer despite weak global cues; banks, auto top index gainers

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The benchmark indices closed at its day’s high despite weak global cues. The BSE Sensex closed at 33,376 points and the NSE Nifty closed at 10,243 points.

Banks – ICICI Bank, Yes Bank and State Bank of India – lent a hand in offsetting weak global market cues. ICICI Bank contributed 40% to the Nifty gains. Among the banks, only PNB and HDFC Bank closed in the red.

The banks started to gain post the RBI buzz, which allowed banks to spread their mark-to-market losses over four quarters.

Auto firms, M&M and Tata Motors, continued to rally for the second day. The auto firms posted positive sales results on Monday which has helped the stocks gain. Mahindra & Mahindra and Tata Motors gained over 2%.

The market breadth was in favour of the advances today with the advance-decline ratio standing at 3:1.

The HDFC twins kept the index gains in check and dragged the Nifty by 15 points.

The benchmark and sectoral indices showed a sharp recovery in the last hour of trade. The BSE Sensex regained its 33,300 levels and the NSE Nifty retained its 10,200 levels.

The Nifty Midcap and the Nifty Bank were up 170 points each gaining over a percent.

Surprisingly, ICICI Bank has crawled up to the first position in the top index gainers list. The bank stock gained over 3%. The State Bank of India (SBI) saw a surge in intraday trading and fell off the top list for a brief period.

SBI, however, made a comeback in the top index gainers list, gaining over 2%. Banks, financials and auto firms pulled up the markets today offsetting the weak global cues.

The global markets showed red signals today as US benchmark index Dow Jones toppled 450 points at its close. The Asian markets still report losses, despite showing a slight recovery in intraday trade. Japan’s Nikkei index is 0.5% down, the Hang Seng index has recovered 0.29% and the Kospi is touching its safe territory with just 0.09% loss.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Closing Bell: New financial year starts on positive note; auto, pharma, IT stocks top index gainers

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Markets closed in the green with the benchmark and sectoral indices trading higher, and gaining more than the opening highs. The BSE Sensex closed at 33,200 levels at 33, 250 points while the Nifty closed at 10,200 levels at 10,216 points, above its day monthly average (DMA levels).

Auto firms, pharma and IT stocks were the top index gainers today. Maruti Suzuki, Tata Motors, Lupin, Cipla, Sun Pharma, Hexaware, Infosys and TCS helped pull up the indices today.

The Nifty Bank, though opened in the red, gained in intraday trading with HDFC Bank and Kotak Mahindra contributing 350 points.

The Nifty Bank index had fallen largely due to ICICI Bank which lost more than 6% in the noon as the developments in the ICICI-Videocon case unfolded.

Axis Bank also reported losses post the buzz that the bank may have received a notice by the central bank to reconsider their decision to appoint Shikha Sharma as their chief executive for the fourth time. The index’s losses were offset by Kotak Mahindra and HDFC Bank.

The market extended gains in the last hour of trade, with the Sensex gaining above 1%. The Nifty Midcap Index ended nearly 2% higher with Tata Global Beverages, Mindtree and Escorts among the top index gainers.  The market breadth was in favour of the advances with Advance-Decline ratio standing at 5:1.

Can Fin Homes lost in trade after the divestment plan was called off. Grasim and Bajaj FinServ surged in trade today after being included in the NSE 50-share Nifty.

On the other hand, the global trade wars are beginning to materialise. The Chinese today said that they are rolling out new tariffs on US meat, fruit and other products as retaliation against taxes approved by President Donald Trump on imported steel and aluminium.

The new tariffs are to come into effect on Monday. The markets, in the previous sessions, witnessed a downfall when Trump announced the tariffs.

The US markets, though ended in the green on Wednesday, can have a weak or negative opening today post this announcement which can later affect the global markets tomorrow.

Benchmark indices opened in the green today, with the NSE Nifty standing at 10,150 levels and the BSE Sensex at 33,000 levels. With the March auto sales indicating a boost, the auto firms are likely to pull up the market today.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Closing Bell: Weak global cues pulled markets down ahead of long weekend; banks, metals underperform

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

The markets remained weak throughout the day and closed in the red largely due to weak global cues and the F&O expiration.

The BSE Sensex closed below 33,000 levels at 32,968 points and the NSE Nifty held on to its 10,100 levels closing at 10,121 points.

The global markets signaled weak cues today with the Singaporean index, SGX Nifty, trading at levels around 10,110 as against its Nifty March Future’s Tuesday close of 10,178, indicating a weak opening for the Indian markets today.

The US market went back into correction mode which led to its major indices fall over by 1.5% at the close, where the country’s tech sector saw the biggest drop in six weeks.

The Asian markets reacted after the superpower country’s weak close and the effect of it seeped through the Asian equities this morning as Japan’s Nikkei shed close to 500 points and Korea’s composite index KOSPI was at day’s low.  The markets continued to drag.

The European markets opened in lows as they were affected by the Wall Street’s performance. The European Stoxx 600 was 0.72% lower briefly after the market opening, with all sectors in the red.

Along with weak global cues, the F&O expiration today also lent a hand in pulling down the benchmark indices. The BSE Sensex lost 2.3% and the NSE 50-share Nifty lost 2.4%. The fear of global trade wars and the global markets correction mode pulled down the Indian market’s performance this month.

Apart from this, the Nifty Bank and the infra stocks also reported losses. Even though the Nifty Bank spiked in trade in the last two sessions, the banking sector still shows signs of being volatile. The Nifty Media index was the only sectoral index that reported a gain of 0.4%.

Today, metals, banks and pharma stocks underperformed as compared to the previous sessions. Tata Steel and Bharti Airtel were among the top index losers today by losing over 3%. The financials and the energy stocks contributed to 50% to the Nifty’s fall with Reliance and ICICI being the top losers. IT and auto stocks, however, kept the markets falling further with Wipro, TCS, Tech Mahindra, Maruti Suzuki India and Eicher Motors taking the lead by gaining more than a percent.

All the sectoral indices closed in the red today, especially the Nifty Bank is falling by over 200 points. Only YES BANK  and IndusInd Bank closed in the green today among the Nifty banking stocks.The Nifty Midcap underperformed as compared to the previous sessions with the Index falling by over 1%.

The market breadth favoured to declines today, with the Advance-Decline ratio standing at 1:2.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow