Flat Close & A Weekly Loss
Indian equities ended the final trading day of the week little changed, after trading in a narrow band throughout the session.
The S&P BSE Sensex ended 30 points higher at 48,832 after trading in a 400 point range while the NSE Nifty 50 index traded in a 150 point range, ending 0.25% higher at 14,617. Gains on the Nifty were led by Wipro. The technology services provider ended at a record closing high with gains of 9%.
For the truncated week, the Sensex and Nifty ended with losses of 1.5% each. This is their fourth weekly loss in the last five weeks.
For today's session, Pharma stocks were the top gainers in today's session. The index ended 1.9% higher. The Nifty Media index was the other major sectoral gainer, also ending with gains of 1.9%. The Nifty Auto and Nifty I.T. indices ended with gains of 1.2% each.
The laggards in today's session were banking and financial names. The Nifty Bank index fell 0.4% while the PSU Bank index saw losses of 0.6%.
Broader markets outperformed the benchmark indices in today's session. The Nifty Midcap index rose 1% while the Smallcap index ended 1.1% higher.
India Volatility Index fell 2.3% to end at 20.4.
1,105 stocks on the NSE ended with gains while 768 stocks posted losses.
How Did The Markets Fare This Week
RITES Wins Order In Bangladesh
- Company led consortium emerged as the lowest bidder during competitive bidding process by Bangladesh Railways
- Bids for construction of dual gauge railway line from Bogura to Shahid M. Mansur Ali station.
- 80 km long greenfield project has two phases and is funded by Exim Bank of India.
- Total fee income for the project will be Rs 63 crore.
- Shares currently trade little changed at Rs 238.05
CAMS At Record High
- Top gainer on the Nifty Smallcap index
- Gains as much as 10% to Rs 2,040
- Biggest single-day gain since listing
- Up for the second straight day
- Today's volumes are more than five times its 20-day average
- Relative Strength Index (RSI) near overbought territory at 69.5
- All seven analysts tracking the stock have a buy recommendation
- The stock is trading around its 12-month Bloomberg consensus price target of Rs 2,020.4
Bharti Airtel's New Corporate Structure
Nifty Pharma Index At Three-Month High
Benchmark Indices Set To Post Weekly Losses
- Nifty up 0.4% at 14,635
- Sensex up 0.15% at 48,872
- Nifty Bank down 0.4% at 31,970
- Nifty Midcap index up 1.2%
- Nifty Smallcap index up 1.3%
- India Volatility Index down 2.3% to 20.41
- Nifty Auto index remains the top sectoral gainer; up 2%
- Nifty Metal and Nifty Pharma indices gain 1.8% each
- Nifty Media index up 1.6% while I.T. index gains 1.3%
- Wipro remains the top Nifty gainer; up 9.5%
- ICICI Bank is the top Nifty laggard; down 1.2%
- 1,242 stocks on the NSE trade with gains while 599 decline
Impact Of Citi's India Exit
Maruti Suzuki Hikes Prices
- Increasing prices of select models owing to increase in various input costs
- Weighted average price increase in Ex-showroom prices (Delhi) across models is 1.6%
- Price hikes are effective from today
- Shares are off the day's high after gaining as much as 2.1% to Rs 6,784.8
NALCO Gets Mining Lease For Utkal-E Coal Block
- Lease granted by Department of Steel & Mines, of the Government of Odisha
- Initial capacity of Utkal-E coal block is 2 million tonnes per year
- Total mineable reserve of approximately 70 million tonnes
- Lease for Utkal-D and E coal block has been granted for a period of 30 years
- Shares gained as much as 4.2% to Rs 60.50.
SBI Cards Gains Most Since Listing
- Among top gainers on the Nifty 500 index
- Gains as much as 7.7% to Rs 975
- Up for the third straight day
- Today's volumes are 58% higher than its 20-day average
- Relative Strength Index (RSI) of the stock at 51.2
- 14 out of the 16 analysts that track the stock have a buy recommendation
- Return potential of the stock as per Bloomberg consensus data is 19.2%
Metal Index Up For The Third Day
IMD Forecasts Normal Monsoon
- Total rainfall during the June-September period is likely to be 98% of the Long Period Average (LPA)
- The forecast has a margin of error of 5%
- Monsoon is considered to be normal when rains are recorded between 96% and 104% of the Long-Period Average.
Benchmark Indices Hold On To Gains
- Nifty up 0.55% at 14,662
- Sensex up 0.3% at 48,956
- Nifty Bank up 0.1% at 32,154
- Nifty Midcap index up 1.2%
- Nifty Smallcap index up 1.3%
- India Volatility Index down 1.3% to 20.61
- Nifty Auto and Nifty Metal indices are the top sectoral gainers; up 1.6% each
- Nifty I.T. and Nifty Media indices gain 1.4% each
- Nifty Pharma index up 0.8% while PSU Bank index gains 0.6%
- Wipro remains the top Nifty gainer; up 9.1%
- 40 out of the 50 index stocks trade with gains
- ICICI Bank is the top Nifty laggard; down 1.1%
- 1,320 stocks on the NSE trade with gains while 478 trade lower.
Wipro Near Record High
JSW Energy Highest In Nearly Six Years
- Top gainer on the Nifty Midcap index
- Gains as much as 7% to Rs 102.5
- Trading at the highest since July 2015
- Today's volumes are triple its 20-day average
- One-month implied volatility is 88%
- Relative Strength Index (RSI) of the stock is 66.1
- Eight out of the 16 analysts tracking the stock have a buy recommendation; 1 sell call
- The stock trades 22.2% higher than its 12-month Bloomberg consensus price target of Rs 78.9
LIC's Death Claims Rise
Auto Index Rebounds
Citi To Exit Retail Banking In India
Benchmark Indices Gain For Third Day
- Nifty up 0.6% at 14,666
- Sensex up 0.4% at 49,008
- Nifty Bank up 0.3% at 32,194
- Nifty Midcap index up 1.1%
- Nifty Smallcap index up 1%
- India Volatility Index down 2% to 20.47
- Nifty I.T. index is the top sectoral gainer; up 1.7%
- Nifty Auto index gains 1.1% while the PSU Bank index is up 1%
- Nifty Media and Nifty Metal indices gain 0.8% each
- Wipro is the top Nifty gainer; up 7.6%
- Reliance Industries is the top Nifty laggard; down 0.7%
- 1,348 stocks on the NSE trade with gains while 403 are declining
Ridham Desai's Risks For The Market
Another Subdued Start To Trade
Indian equities have begun the final trading day of the week on a subdued note. Sentiment across the Asia-Pacific too is cautious despite the benchmark indices on Wall Street hitting a record high overnight.
The S&P BSE Sensex opened 0.3% higher at 48,935 while the NSE Nifty 50 index rose 20 points at the start of trade to 14,599. As of closing on Thursday, both Sensex and Nifty are down over 1.5% for the truncated week.
Among the sectoral indices, the Nifty I.T. index has opened with gains of 0.7% while the Metal index is up 0.6% at the start of trade. The FMCG index is up 0.5% while most other sectoral indices have opened little changed.
Broader markets have opened higher this morning. The Nifty Midcap index is up 0.3% while the Smallcap index has gained 0.5%.
Current Market Update
Weekly Losses Likely
Good Morning!
Indian equities recovered from the day's low to end the weekly options expiry session on a positive note. The benchmarks gained for the second day in a row after Monday's drop.
Gains on Thursday were led by private financials, pharma and metal names, while autos and PSU banks underperformed. Still, so far in this truncated week, the Sensex and NSE Nifty 50 are down more than 1.5%.
Futures are again pointing to a subdued start to the final trading day of the week. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, was little changed at 14,631 as of 8:10 a.m. on Friday.
Asian equities have declined this morning, despite peers on Wall Street hitting new records after surprisingly robust economic data. Shares fluctuated in China and declined elsewhere in the region.
- Futures on the Dow Jones are trading 25 points lower. The index gained 0.9% on Thursday.
- Yield on the 10-year treasuries stood at 1.58%, the lowest in nearly a month.
- West Texas Intermediate crude was little changed at $63.40 per barrel.
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