KEY HIGHLIGHTS
Closing Bell: Sensex, Nifty End Marginally Higher As Infosys' Losses Offset Gains In TCS
Indian equity benchmarks ended marginally higher after a volatile start as gains on Tata Consultancy Services Ltd. were offset by losses in Infosys Ltd.
The S&P BSE Sensex ended 0.23 percent or 87 points higher at 38,214.47 after advancing nearly 400 points earlier. The NSE Nifty 50 closed 0.32 percent at 11,341. The broader markets represented by the NSE Nifty 500 Index rose 0.34 percent.
The market breadth was tilted in favour of buyers. About 907 stocks advanced and 879 shares declined on National Stock Exchange.
Nine out of 11 sectoral gauges compiled by NSE ended higher, led by the NSE Nifty Realty Index’s 1.64 percent gain. On the flipside, the NSE Nifty PSU Bank Index was the top sectoral loser, down 0.53 percent.
Fortis Healthcare Falls After Large Trade
Shares of Fortis Healthcare fell as much as 5.8 percent to Rs 130.
About 4.91 crore shares or 6.5 percent equity changed hands in a large trade, Bloomberg data showed. Buyers and sellers were not known immediately.
Trading volume was more times its 20-day average, Bloomberg data showed. Of the shares traded, 6 percent were at the ask price and 91 percent were at the bid.
Fab Four Stocks Of The Day
Birlasoft
- Stock rose as much as 11.9 percent, the most in nearly a month, to Rs 65.80.
- The company signed a $240 million multi‐year deal with Invacare Corporation, to provide IT‐as‐a‐Service (ITaaS) service, according to its stock exchange filing.
DLF
- Stock rose as much as 8.4 percent to Rs 157.85.
- Company sold 376 luxury flats worth Rs 700 crore on first day of the launch of its new housing project in Gurugram
GOCL Corporation
- Stock rose as much as 4.4 percent to Rs 295.
- Company received order worth Rs 375 crore from Coal India arm for supply of Bulk Explosives for a period of two years.
Cadila Healthcare
- Stock rose as much as 2.2 percent to Rs 235.20.
- Received zero form 483 observations by U.S. Food and Drug Administration inspections at its API plant in Dabhasa.
Market Check: Sensex, Nifty Set To Extend Gains For Second Day
Indian equity indices extended gains and are set to end higher for the second consecutive trading session.
The S&P BSE Sensex rose 0.4 percent to 38,283 as of 3 p.m. and the NSE Nifty 50 rose 0.4 percent to 11,350. The broader markets represented by the NSE Nifty 500 Index rose 0.4 percent.
Global Markets Update: European Shares Decline
European stocks sank and U.S. equity futures edged lower while Asian shares rose broadly as investors digested signs of progress in U.S.-China trade negotiations.
- The Stoxx Europe 600 Index declined 0.7 percent.
- Futures on the S&P 500 Index fell 0.1 percent.
- Germany’s DAX Index dipped 0.6 percent.
- The U.K.’s FTSE 100 Index decreased 0.4 percent.
Tata Motors Top Performer On Sensex, Nifty; Shares Jump Over 7%
Shares of Tata Motors extended morning gains to trade at day’s high.
The stock rose as much as 7.2 percent, the most since Sept. 20, to Rs 130. The scrip is the best performer on Sensex and Nifty.
At 10:30 a.m., about 10 lakh shares of the company changed hands in a large deal, Bloomberg data showed. Buyers and sellers were not known immediately.
Stocks Moving On Heavy Volumes
Entertainment Network India
- Stock fell as much as 9 percent to Rs 247.55.
- Trading volume more than 20 times its 20-day average.
GTPL Hathway
- Stock hit an upper circuit of 20 percent at Rs 89.15.
- Trading volume more than 16 times its 20-day average.
Adani Gas
- Stock rose as much as 18.4 percent to Rs 163.
- Trading volume was almost 11 times its 20-day average.
Bajaj Consumer Care
- Stock fell as much as 9.1 percent to Rs 221.15.
- Trading volume was almost 11 times its 20-day average.
Nifty Bank At Day’s High, Surges Nearly 500 Points
Shares of the NSE Nifty Bank Index extended gains for the second consecutive trading session and rose as much as 1.8 percent or 496 points to 38,538.25.
The gains in the 12-share gauge were led by Yes Bank Ltd. Axis Bank Ltd. and IndusInd Bank Ltd.
Market Check: Sensex, Nifty At Day’s High
Indian equity indices were trading at day’s high, led by the gains in private lenders—HDFC Bank Ltd., ICICI Bank Ltd. and Axis Bank Ltd.
The S&P BSE Sensex rose 0.89 percent to 38,467 as of 2 p.m. and the NSE Nifty 50 rose 0.9 percent to 11,406. The broader markets represented by the NSE Nifty 500 Index rose 0.84 percent.
The market breadth was tilted in favour of buyers. About 972 stocks advanced and 773 shares declined on National Stock Exchange.
Vakrangee Halts Four-Day Fall; Shares Jump The Most In Nearly Two Months
Shares of Vakrangee halted their four-day losing streak.
The stock rose as much as 9.8 percent, the most since Aug. 27, 2019, to Rs 26.80.
Trading volume was triple its 20-day average, Bloomberg data showed. Of the shares traded, 51 percent were at the ask price and 41 percent were at the bid.
HUL Holds Gain Ahead Of Q2 Results
Shares of Hindustan Unilever Ltd. rose 0.37 percent after gaining as much as 1.3 percent ahead of its September quarter results announcement.
Here’s what analysts tracked by Bloomberg expect the company to report on a yearly basis.
- Revenue seen 5.6 percent higher at Rs 9,752 crore.
- Ebitda seen 8.5 percent higher at Rs 2,191 crore.
- Margin seen at 22.5 percent versus 21.9 percent.
- Net profit seen 17 percent at Rs 1,788 crore.
Economic Data Alert: WPI Inflation Falls To Lowest In Over Three Years
Wholesale inflation in India continued to slide in September led by a fall in manufactured good prices and a decline in fuel inflation.
Inflation as measured by the wholesale price index fell to 0.33 percent in September, according to data released by the Ministry of Commerce and Industry on Monday. This is the lowest since June 2016. A Bloomberg poll of 24 economists had forecast the wholesale inflation at 0.84 percent.
Money Market Update: Rupee Reverses Gain, Trades Little Changed
The Indian rupee pared early gains and traded little changed against the U.S. dollar.
This after Bloomberg reported that the state-run banks stepped up purchases of dollars and disappointing data fuelled concerns about deteriorating economic growth.
Uniply Industries Halt Three-Day Fall, Shares Surge Nearly 14%
Shares of Uniply Industries halted a three-day losing streak.
The stock rose as much as 13.5 percent, the most since May 06, to Rs 47.45.
Trading volume was four times its 20-day average, according to Bloomberg data. The stock declined 18 percent in the past 21 months compared to a 10 percent gain in the Sensex.
Coastal Corp Hits 20% Upper Circuit
Shares of Coastal Corp extended gains for the second consecutive trading session and hit an upper circuit of 20 percent at Rs 157.80.
Trading volume was 1.3 times its 30-day average, according to Bloomberg data. The stock declined 57.7 percent so far this year and fell 23.1 percent in the past 12 months.
Bombay Burmah Extends Gain, Shares Up 6%
Shares of Bombay Burmah Trading extended gains for the second consecutive trading session and rose as much as 6 percent to Rs 1,172.95.
Of the shares traded, 43 percent were at the ask price and 41 percent were at the bid, according to Bloomberg data. The stock rose 6.6 percent in the past five days and advanced 16 percent in the past 30 days.
JSW Steel Pares Gain As NCLAT Stays Bhushan Power Case
Shares of JSW Steel rose 1.9 percent after gaining as much as 3.6 percent to Rs 225 as NCLAT stays implementation of Bhushan Power sale to the company.
Large Trade Alert: Tata Motors
About 10 lakh shares of Tata Motors changed hands in a block deal, Bloomberg data showed. Buyers and sellers were not known immediately.
The Best And The Worst NSE Sectoral Performers
Ten out of 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty Realty Index’s 3.2 percent gain. On the flipside, the NSE Nifty IT Index was the only sectoral loser, down 0.03 percent.
Market Check: Sensex, Nifty Trade Higher After Shaky Start
Indian equity benchmarks traded higher after a shaky start.
The S&P BSE Sensex rose 0.62 percent to 38,362.86 as of 11 a.m. and the NSE Nifty 50 rose 0.62 percent to 11,376. The broader markets represented by the NSE Nifty 500 index rose 0.68 percent.
Birlasoft Halt Four-Day Fall, Shares Jump 12%
Shares of Birlasoft halted their four-day losing streak.
The stock rose as much as 11.9 percent, the most in nearly a month, to Rs 65.80.
The company signed a $240 million multi‐year deal with Invacare Corporation, to provide IT‐as‐a‐Service (ITaaS) service, according to its stock exchange filing.
Trading volume was more than three times its 20-day average, according to Bloomberg data. The stock declined 49 percent in the past 12 months compared to a 10 percent gain in the Sensex.
F&O Check: Nifty 11,400 Call Option Contract Gains 14%
Nifty’s 11,400 call option contract was among the most active Nifty option contracts on National Stock Exchange.
Premium on the contract, which is set to expire on Thursday, rose 13.7 percent to Rs 57.85. Over 4.83 lakh shares were removed from the open interest which stood at over 19.52 lakh shares.
Market Check: Sensex, Nifty Volatile
Indian equity benchmarks were volatile in the early trade.
The S&P BSE Sensex rose 0.2 percent to 38,207 as of 10 a.m. and the NSE Nifty 50 rose 0.25 percent to 11,334.60. The broader markets represented by the NSE Nifty 500 Index gained 0.37 percent.
IRCTC Jumps 109% On Stock Market Debut
State-owned IRCTC made its stock market debut at a premium of 95.63 percent at Rs 626 per share on the NSE compared to its issue price of Rs 320 apiece. The stock surged as much as 109.4 percent thereafter.
Bank Of Baroda Worst Performer On Nifty Bank Index
Shares of fell as much as 3.9 percent to Rs 87.25.
Baroda Asset Management and BNP Paribas Asset Management said they have decided to merge their businesses in a bid to leverage each other's strengths to offer products for retail and institutional investors, according to PTI report.
However, this is subject to regulatory and other legal approvals. Bank of Baroda and BNP Paribas Asset Management Asia have entered into binding agreements, the report added quoting the two entities’ joint statement.
The stock was the worst performer on NSE Nifty Bank Index.
Cadila Healthcare Gains On FDA Boost
Shares of Cadila Healthcare rose as much as 2.2 percent to Rs 235.20.
The company received zero form 483 observations by U.S. Food and Drug Administration inspections at its API plant in Dabhasa. This inspection was a Current Good Manufacturing Practice audit and a pre-approval inspection.
Trading volume was more than three times its 20-day average, Bloomberg data showed. Of the shares traded, 50 percent were at the ask price and 37 percent were at the bid.
Infosys Worst Performer On Sensex, Nifty
Shares of Infosys fell as much as 4.3 percent to Rs 780. The stock was the worst performer on Sensex and Nifty after reporting September quarter results on Friday.
Key Earnings Highlights (Q2, QoQ)
- Dollar revenue rose 2.5 percent to $3210 million.
- Revenue rose 3.8 percent to Rs 22,629 crore
- Net profit rose 6.2 percent to Rs 4,037 crore.
- EBIT rose 9.9 percent to Rs 4,912 crore.
- Margin stood at 21.7 percent versus 20.5 percent.
- Declared dividend of Rs 8 per share.
Adani Gas Jumps After Total Makes Open Offer
Shares of Adani Gas rose as much as 18.4 percent, the most in nearly a year, to Rs 163.
Total SA will acquire 37.4 percent stake in Adani Gas, allowing the French oil major to expand its gas business in India.
Total will purchase the stake through a tender offer to public shareholders for up to 25.2 percent and the residual shares from Adani family, the Ahmedabad-based company said in a statement to the exchanges today. The open offer has been set at Rs 149.63 a share, a 8.7 percent premium to its Friday’s closing price.
Opening Bell: Sensex, Nifty Open Higher
Indian equity benchmarks opened marginally higher
The S&P BSE Sensex rose 0.2 percent to 38,200 and the NSE Nifty 50 rose 0.23 percent to 11,336.15. The broader markets represented by the NSE Nifty 500 Index rose 0.34 percent.
The market breadth, however, was tilted in favour of sellers. About 946 stocks declined and 879 shares advanced on National Stock Exchange.
Nine out of 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty Metal Index’s 1.07 percent gain. On the flipside, the NSE Nifty IT Index was the top sectoral loser, down 0.63 percent.
Your Complete F&O Trade Setup
Futures
- Nifty October futures closed at 11311.7, premium of 6.7 points versus 19.7 points.
- Nifty October futures up 1.3 percent, adds 1.9 lakh shares in open interest.
- Nifty Bank futures closed at 28,138.6, premium of 96 points versus 93 points.
- Nifty Bank October futures open interest up 1.2 percent, adds 18,000 shares in open interest.
Options
- Nifty PCR at 1.13 versus 1.14 (across all series).
Nifty Weekly Expiry: Oct. 17
- Max open interest on call side at 11,400 (14.6 lakh shares).
- Max open interest on put side at 11,000 (11.8 lakh shares).
- open interest addition seen at 11400C (+6.7 lakh shares), 11,500C (5 lakh shares), 11,000P (+5 lakh shares).
Nifty Monthly Expiry: Oct. 31
- Max open interest on call side at 12,000 (23.8 lakh shares).
- Max open interest on put side at 11,000 (27 lakh shares).
BQ Heads-Up: How Indian ADRs Fared On Friday
BQ Heads-Up: Insider Trading
- GFL promoter Inox Leasing & Finance acquired 50,000 shares on Sep. 30.
BQ Heads-Up: Who’s Meeting Whom
- Tata Steel to meet Westwood Global Investment and AXA Investment Management on Oct. 17.
- CG Consumer Electricals to meet Jupiter AMS, Aberdeen Standard Investments and First Pacific Advisors from Nov. 12-20.
- Mahindra Logistics to meet HSBC on Oct. 16.
BQ Heads-Up: Trading Tweaks
- Century Textiles & Industries record date for demerger.
- Adani Green Energy, IL&FS Investment Managers, Kridhan Infra, Sadhana Nitro Chem, Zee Media Corporation, Sintex Industries to move into short term ASM Framework.
- Anant Raj, Axiscades Engineering Technologies, Skipper, Suzlon Energy to move out of short term ASM Framework.
- Reliance Capital price band revised to 10 percent.
- Dewan Housing Finance Corporation price band revised to 5 percent.
- Lakshmi Vilas Bank to move into ASM Framework.
- Indiabulls Integrated Services, Patel Engineering, Shyam Century Ferrous, Sintex Plastics Technology to move out of ASM Framework.
Money Market Update: Rupee Opens Higher
The Indian rupee opened higher against the U.S. dollar. The home currency appreciated as much as 0.3 percent to 70.80 against the greenback.
Pre-Market Check: Sensex, Nifty Set To Open Higher
Indian equity indices are set to open higher.
The S&P BSE Sensex rose 0.53 percent to 38,341 during the pre-market trade and the NSE Nifty 50 rose 0.53 percent to 11,370.
Q2 Earnings Corner: Avenue Supermarts, HUL, Infosys
Nifty Earnings To Watch
- Hindustan Unilever
Other Earnings To Watch
- Asahi Songwon Colors
- Delta Corp
- GTPL Hathway
Earnings Reaction To Watch
Infosys (Q2, QoQ)
- Dollar revenue rose 2.5 percent to $3210 million.
- Revenue rose 3.8 percent to Rs 22,629 crore
- Net profit rose 6.2 percent to Rs 4,037 crore.
- EBIT rose 9.9 percent to Rs 4,912 crore.
- Margin stood at 21.7 percent versus 20.5 percent.
- Declared dividend of Rs 8 per share.
Bajaj Consumer Care (Q2, YoY)
- Revenue rose 2.6 percent to Rs 220.1 crore.
- Net profit rose 11.1 percent to Rs 56 crore.
- Ebitda rose 3 percent to Rs 61 crore.
- Margin stood at 27.7 percent versus 27.6 percent.
- Volume Growth at 2.65 percent.
Den Networks (Q2, YoY)
- Revenue rose 7.1 percent to Rs 332.4 crore.
- Net profit stood at Rs 14.7 crore versus net loss of Rs 28 crore.
- Ebitda fell 4.7 percent at Rs 48.4 crore.
- Margin stood at 14.6 percent versus 16.4 percent.
- Other income rose 9 times to Rs 42.4 crore.
- Finance cost fell 57 percent to Rs 6.3 crore.
ITI (Q2, YoY)
- Revenue rose 47.9 percent to Rs 419.5 crore.
- Net profit fell 5.3 percent to Rs 7.2 crore.
- Ebitda profit at Rs 43.2 crore versus Ebitda loss of Rs 77 crore.
Stocks To Watch: Adani Gas, Bank Of Baroda, Cadila Healthcare
- Adani Gas: Company inks pact with Total Holdings to acquire 37.4 percent shares in Adani Gas through a tender offer to public shareholders to acquire up to 25.2% shares subject to applicable regulations and purchase the residual shares from Adani Family. Adani Family and TOTAL SA shareholders shall ultimately hold 37.4 percent each and public shareholders shall hold remaining 25.2 percent.
- Cadila Healthcare received zero form 483 observations by U.S. Food and Drug Administration inspections at its API plant in Dabhasa. This inspection was a Current Good Manufacturing Practice audit and a pre-approval inspection.
- Reliance Capital said that existing management team of Reliance Securities has entered into a buying agreement for buying out the broking and distribution business from Reliance Capital, subject to regulatory approvals. Reliance Securities is 100 percent subsidiary of Reliance Capital. Besdies, the company clarified that it has not received any borrowing in last 18 months.
- Aurobindo Pharma: HDFC MF increased stake in the company to 7.12 percent from 5.11 percent on Oct. 9.
- S&P Global Ratings assigned its 'BB' rating on Muthoot Finance Ltd.'s U.S. $2 billion secured global medium-term note program, according to Bloomberg report.
- Goa Carbon said that its Goa plant will be shut temporarily from Oct. 12 onwards for maintenance work.
- Bank of Baroda Baroda Asset Management and BNP Paribas Asset Management said they have decided to merge their businesses in a bid to leverage each other's strengths to offer products for retail and institutional investors, according to PTI report. However, this is subject to regulatory and other legal approvals. Bank of Baroda and BNP Paribas Asset Management Asia have entered into binding agreements, the report added quoting the two entities’ joint statement.
- GOCL Corporation received order worth Rs 375 crore from Coal India arm for supply of Bulk Explosives for a period of two years.
- Indraprastha Gas received letter of acceptance from Petroleum and Natural Gas Regulatory Board for Central Government’s authorisation to the company for Ghaziabad GCD network. This letter has granted infrastructure exclusivity for laying building or expansion of the CGD Network till 2032.
- Allahabad Bank reduced Marginal Cost of Funds based Lending Rate by 5 basis points across various tenors with effect from Oct. 14. One-month MCLR stands at 7.9 percent and one-year MCLR stands at 8.35 percent.
- Lakshmi Vilas Bank: Care Rating revised rating of non-convertible debentures worth Rs 370 crore from ‘BBB-’ to ‘BB+’, with outlook changing from credit watch with developing implications to Negative.
- NMDC: Board approved raising up to Rs 5,000 crore via NCDs.
- MSTC has been appointed as a selling agent by Northern Coalfields for disposal of scrap for a period of two years.
- HCL Tech has completed the acquisition of Sankalp Semiconductors.
- NALCO: Government sold 92.9 lakh shares on Oct.10. Stake reduced from 52 percent to 51.5 percent.
- Steel Strips Wheels said that promoters have a stake of 61.1 percent in the company out of which 51.34 percent of the promoter shareholding are encumbered shares
- Emami said that promoters have a stake of 52.72 percent in the company out of which 61.95 percent of the promoter shareholding are encumbered shares.
- Jain Irrigation Systems long term facilities cut to ‘D’ at India Ratings on delays in debt repayment, according to Bloomberg report.
- Quick Heal Technologies: Vijay Mhaskar resigned as Chief Operating Officer with effect from Oct. 11 on account of personal reasons.
- Altico, Mashreq move Reserve Bank of India against Fund Withdrawal by HDFC Bank (ET). HDFC Bank’s fund transfer from, ECB account may be a violation of RBI rules.
- Jet Airways joint auditors BSR & Co LLP tender resignation before completion of term Committee of Creditors to meet on Monday, Oct. 14.
Key Data To Watch: CPI, WPI
- 12 p.m.: India Sept. Wholesale Prices Inflation YoY, Bloomberg estimate at 0.9 percent, prior 1.08 percent
- 5:30 p.m. : India Sept. Consumer Price Inflation YoY; Bloomberg estimate at 3.81 percent (prior 3.21 percent)
New Listing Alert: IRCTC
Shares of State-owned Indian Railway Catering & Tourism Corp. to start trading after IPO gets 112 times demand at Rs 320 apiece.
Also Read: IRCTC To Make Stock Market Debut On Monday
Global Cues: U.S. Stocks End Higher
- Oil extended last week’s gains in Asian trading on hopes for a resolution to the trade war between the U.S. and China and after an attack on an Iranian tanker further ratcheted up tensions in the Middle East.
- U.S benchmark indices ended higher on Friday, led by banks and automakers, though there were plenty of gyrations along the way after an overnight session that saw futures whipsawed by headlines giving conflicting signs of progress on the negotiations.
- The pound retreated as European Union negotiators warned that Brexit plans from U.K. Prime Minister Boris Johnson are not yet good enough to be the basis for an agreement.
Get your daily fix of global markets here.
SGX Nifty Suggests Stock Losses; Asian Stocks Advance
Good Morning!
The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, fell 0.12 percent to 11,295. as of 8:20 a.m.
Asian stocks began the week with gains after signs of progress in U.S.-China trade negotiations, though sentiment was capped as investors voiced skepticism on the accord.
Shares in Seoul and Sydney opened higher and equity futures pointed higher in Hong Kong. Japan will be shut for a holiday.
Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.
RECOMMENDED FOR YOU
POPULAR