Sensex, Nifty Register First Weekly Gains In Four

Indian equity benchmarks ended their three-week losing streak.

The S&P BSE Sensex closed 0.51 percent higher this week to end at 39,394.64 and the NSE Nifty 50 closed at 11,788.85, up 0.59 percent. The broader market index represented by the NSE Nifty 500 Index closed 0.81 percent higher this week.

Today, the 31-stock index closed 192 points or 0.48 percent lower and the 50-share gauge closed 0.45 percent lower. The 500-share index ended 0.35 percent lower.

The market breadth was tilted in favour of sellers. About 919 stocks declined and 822 shares advanced on National Stock Exchange.

Eight out of 11 sectoral gauges compiled by NSE ended lower, led by the NSE Nifty Metal Index’s 1.14 percent decline. On the flipside, the NSE Nifty PSU Bank Index was the top sectoral gainer, up 0.77 percent.

Excel Industries

• Stock rose as much as 5.3 percent to Rs 988.95.
• The company acquired chemical manufacturing unit of NetMatrix Cropcare for Rs 95 crore. The said unit was commissioned in May for manufacturing of a pesticide intermediate.

Canara Bank

• Stock rose as much as 4.7 percent, the most in over a month, to Rs 291.80.
• Fresh longs seen high OI at 41 percent.

DLF

• Stock rose as much as 3.1 percent to Rs 191.35.
• The company completes warrant conversion. Promoters infused last tranche of Rs 2250 crore.

Rupa & Co

• Stock rose as much as 16.1 percent to Rs 276.40.
• Trading volume was almost 50 times its 20-day average.

Indian equity benchmarks set to clock their first weekly gains in four.

The S&P BSE Sensex gained 0.47 percent so far this week and the NSE Nifty 50 rose 0.55 percent. The broader market index represented by the NSE Nifty 500 rose 0.8 percent so far this week.

Today, the 31-share index fell 153 points to 39,430 as of 3 p.m and the 50-stock gauge traded below 11,793.90, down 0.4 percent. The 500-share index traded 0.35 percent lower.

Independent market expert Rahul Randeria said that the Nifty could see further selling at current levels.

“The Nifty has formed a ‘Head and Shoulder’ on the daily chart. The Index formed an inverted hammer yesterday and also made a high near its right shoulder level. The Nifty has broken from yesterday’s low and the momentum is slipping from the current trend,” Randeria told BloombergQuint in an interaction.

Randeria suggests investors to sell at current levels with a stop-loss of 11,850 and intraday target of 11,740 if they want to sell today.

Shares of Bharat Dynamics extended gains for the fourth consecutive trading session, their longest gaining streak in a month.

The stock rose as much as 7.9 percent, the most in over two weeks, to Rs 339, their highest level since May 28.

Trading volume was almost 16 times its 20-day average, Bloomberg data showed. Of the shares traded, 47 percent were at the ask price and 33 percent were at the bid.

Indian equity benchmarks continued to trade lower.

The S&P BSE Sensex fell 114 points to 39,472 as of 2 p.m. and the NSE Nifty 50 traded near 11,800, down 0.28 percent. The NSE Nifty Bank Index staged a U-turn after the 12-share gauge recovered over 200 points from day’s low.

The market breadth was tilted in favour of sellers. About 900 stocks declined and 789 shares advanced on National Stock Exchange.

The NSE Nifty Bank Index traded 15 points or 0.05 percent higher as of 1:45 p.m. It fell 209 points intraday.

The gains in the 12-share gauge were led by Punjab National Bank and Bank of Baroda.

European shares traded mixed to cap its first weekly decline in a month as investors awaited a meeting between the U.S. and Chinese presidents for updates on the two countries’ trade talks.

The mid-cap index represented by the NSE Nifty MidCap 100 rose nearly 0.1 percent. That compared with 0.25 percent decline in the Nifty 50.

About 53 stocks in the 100-share gauge gained, led by the rally in Eid Parry India, UCO bank and Reliance Communications. On the flipside, Suzlon Energy, India Cements and Jain Irrigation Systems were the worst performers.

Indian equity benchmarks were trading near day’s low.

The S&P BSE Sensex fell 74 points or 0.19 percent as of 1 p.m. after falling nearly 150 points intraday. The NSE Nifty 50 traded around 11,820, down 0.19 percent.

The declines in the benchmark indices were led by HDFC Bank ltd., Reliance Industries Ltd. and ICICI Bank Ltd.

On the flipside, Larsen & Toubro Ltd., Axis Bank Ltd. and State Bank of India were top gainers.

Shares of Eid Parry India extended gains for the second consecutive trading session. The rose as much as 9.7 percent to Rs 186.50.

Trading volume was more than nine times its 20-day average, Bloomberg data showed. The stock declined 13 percent in the past 12 months compared to a 13 percent gain in the Sensex.

Independent investment advisor Sharmila Joshi said that it is difficult to take a call on markets at this juncture there are many fundamentals being built in several areas.

Joshi prefers tech shares and believe that it is a safe sector to invest in. She advices investors to position themselves keeping the upcoming Budget in mind.

“I suggest investors to stay invested in the PSU banks. In general each bank has issues but valuation is decent. Besides, there is also a buzz that they might receive capital infusion during the budget,” Joshi told BloombergQuint in an interaction.

Indian equity benchmarks traded at day’s low.

The S&P BSE Sensex fell as much as 0.36 percent or 142 points to 39,444.82 and the NSE Nifty 50 fell as much as 0.36 percent to 11,798.40. The broader market index represented by the NSE Nifty 500 Index fell 0.15 percent as of 12:10 a.m.

Shares of Rupa & Co after they extended gains for the third consecutive trading session. The stock rose as much as 15.6 percent, the most since October 2018, to Rs 273.95.

Besides, Mindtree fell as much as 2.2 percent to Rs 924.35. The stock ended a four-day fall yesterday after it closed 1.02 percent higher.

Eight out of 11 sectoral gauges compiled by NSE traded lower, led by the NSE Nifty Metal Index’s 1.2 percent fall. On the flipside, the NSE Nifty PSU Bank Index was the top sectoral gainer, up 1.83 percent.

Shares of Rupa & Co extended gains for the third consecutive trading session. The stock rose as much as 15.6 percent, the most since October 2018, to Rs 273.95.

Trading volume was almost 50 times its 20-day average, Bloomberg data showed. The stock rose 14 percent in the past five days and declined 6.2 percent in the past 30 days.

Shares of Power Grid rose as much as 0.9 percent to Rs 209.60.

The company plans to consider fund raising of up to Rs 10,000 crore in tranches from the domestic market through issue of secured / unsecured, non-convertible, non-cumulative / cumulative, redeemable, taxable / tax-free Debentures / Bonds under Private Placement during the next financial year, according to its stock exchange filing.

The Relative Strength Index was above 70, indicating that the stock may be overbought, according to Bloomberg data.

Indian equity benchmarks continued to trade lower, erasing their opening gains.

The S&P BSE Sensex fell 86 points to 39,497 as of 11 a.m. and the NSE Nifty 50 fell 0.2 percent to 11,816.40. The small-cap Index represented by the NSE Nifty SmallCap 100 rose 0.1 percent.

Seven out of 11 sectoral gauges compiled by NSE traded lower, led by the NSE Nifty Metal Index’s 1 percent fall. On the flipside, the NSE Nifty PSU Bank Index was the top sectoral gainer, up 1.8 percent.

Shares of Mindtree fell as much as 2.2 percent to Rs 924.35. The stock ended a four-day fall yesterday after it closed 1.02 percent higher.

Larsen & Toubro Ltd.'s stake in Mindtree Ltd. rose to more than 60 percent after its open offer to buy 31 percent shares in the Bengaluru-based IT firm was over-subscribed, PTI reported quoting data available on the bourses.

The stock is testing its 200-day moving average of Rs 931.44, Bloomberg data showed. The Relative Strength Index was at 28, indicating that the stock may be oversold.

Shares of the drugmaker rose as much 2.6 percent to Rs 508.78.

Brokerage firm HSBC upgraded its recommendation on the stock to ‘Buy’ from ‘Hold’ and hiked the price target to Rs 590 from Rs 575.

Here what else HSBC had to say about Alembic Pharma:

• Received FDA approval for nine drugs in last nine months thereby indicating of R&D efforts.
• Expect operating margins to grow steadily over FY20-22.
• Upgrade to Buy on improving U.S. outlook.

Shares of Lupin rose as much as 3.2 percent to trade at over a one-month high at Rs 790.

The pharmaceutical company received tentative U.S. FDA approval for Mirabegron ER tablets—used in the treatment of overreactive bladder issues, to market generic version for Myrbetriq ER Tablets of Astellas, according to its stock exchange filing.

Trading volume was almost five times its 20-day average, Bloomberg data showed. The stock traded at 26 times its estimated earnings per share for the coming year.

Nifty’s 11,800 put option contract was among the most active Nifty option contracts on National Stock Exchange.

Premium on the contract rose 13.49 percent to Rs 53. Over 4.89 lakh shares were added to the open interest which stood at over 16.7 lakh shares.

Indian equity benchmarks erased opening gains, led by the declines in ICICI Bank and Axis Bank.

The S&P BSE Sensex fell as much as 0.16 percent or 64 points to 39,522 and the NSE Nifty 50 fell as much as 0.13 percent to 11,825. The broader market index represented by the NSE Nifty 500 Index traded little changed.

Bengaluru-based real estate developers were in focus after the Karnataka government is contemplating a five-year ban on construction of multi-storeyed residential buildings in view of the acute water crisis, PTI reported quoting Deputy Chief Minister Dr. G Parameshwara.

• Bharti Airtel: About 12 lakh shares changed hands in a block deal.
• Power Finance: About 5.6 crore shares or 2.1 percent equity changed hands in a block deal.
• UPL: About 16 lakh shares changed hands in a block deal.

Buyers and sellers were not known immediately.
Source: Bloomberg

Shares of the state-run lender extended gains for the third consecutive trading session. The stock rose as much as 11.3 percent, the most in over four months, to Rs 26.50.

Trading volume was almost 50 times its 20-day average, Bloomberg data showed. The scrip advanced 11 percent in the past five days and gained 1 percent in the past 30 days.

Shares of the Bengaluru-based real estate developers declined in today’s trade.

This after the Karnataka government is contemplating a five-year ban on construction of multi-storeyed residential buildings in view of the acute water crisis, PTI reported quoting Deputy Chief Minister Dr. G Parameshwara.

Shares of Sobha fell as much as 7 percent to Rs 507, while shares of Purvankara fell as much as 6 percent to Rs 69.40. Brigade Enterprises and Prestige Estate Projects fell as much as 5.7 percent and 4 percent respectively.

Shares of Cox & Kings hit their lower circuit of 10 percent for the third consecutive trading session to trade at record low at Rs 36.80.

The company defaulted on payment of commercial papers worth Rs 150 crore, according to it stock exchange filing. (Read the full story here).

Trading volume was more than three times its 20-day average, Bloomberg data showed. The Relative Strength Index was below 30, indicating that the stock may be overbought.

Indian equity benchmarks resumed gains after a one-day blip.

The S&P BSE Sensex rose as much as 89 points or 0.22 percent to 39,675 and the NSE Nifty 50 rose as 0.25 percent to 11,871. The broader market index represented by the NSE Nifty 500 Index rose as much as 0.22 percent.

The market breadth was tilted in favour of buyers. About 808 stocks advanced and 621 shares declined on National Stock Exchange.

Six out of 11 sectoral gauges compiled by NSE advanced, led by the NSE Nifty IT Index’s 0.35 percent gain. On the flipside, the NSE Nifty Realty Index was the top sectoral loser, down 0.65 percent.

The Indian rupee opened higher against the U.S. dollar. The home currency appreciated as much as 0.14 percent to 68.97 against the greenback.

Most Asian indexes have slipped in the red ahead of the U.S.-China meeting to resolve trade dispute. With risk appetite muted, dealers see the pair in a range of 68.90-69.30 a dollar in the day.

The focus for sovereign bond investors will be the weekly debt auction. Govt plans to sell Rs 17,000 crore of debt maturing between 2012 and 2059 today and the cutoffs will be closely watched. Yield on the benchmark note fell four basis points in the last session to close at 6.90 percent. For today, dealers see it trading between 6.87-6.93 percent in the day.

Indian equity benchmarks are set to open higher

The S&P BSE Sensex rose over 100 points to 39,695 during the pre-market trad eand the NSE Nifty 50 was at 11,867.35, up 0.17 percent.

In the currency market, the Indian rupee opened higher against the U.S. dollar. The home currency appreciated as much as 0.14 percent to 68.97 against the greenback.

Futures

• Nifty July futures closed at 11,908.5, premium of 67 points.
• Nifty futures across series open interest up 8 percent, adds 18.4 lakh shares in open interest.
• Bank Nifty futures closed at 31,372, premium of 103 points.
• Bank Nifty futures across series open interest down 9 percent, sheds 2 lakh shares in open interest.
• Nifty Rollover 80 percent, Bank Nifty Rollover 81 percent.

Options

• Nifty PCR at 1.51 versus 1.60 (across all series).

Nifty Weekly Expiry 4-July

• Max open interest on call side at 12,000 (14.6 lakh shares).
• Max open interest on put side at 11,800 (11.8 lakh shares).
• Open interest addition seen at 12,000C (+8.7 lakh shares), 11,800P (+5.9 lakh shares).

Nifty Monthly Expiry 25-July

• Max open interest on call side at 12,000 (11.9 lakh shares).
• Max open interest on put side at 11,000 (14.8 lakh shares).

• 8K Miles Software Services, LGB Forge to move into short term ASM Framework.
• Jain Irrigation Systems to move out of short term ASM Framework.
• IFCI, Jet Airways, PC Jeweller, Reliance Power to be made non-available for transactions in SLB Segment.

Price Band Revision

20 percent:

• Ajanta Pharma
• Allahabad Bank
• BEML
• Can Fin Homes
• Ceat
• CG Power and Industrial Solutions
• Chennai Petroleum Corporation
• DCB Bank
• Godfrey Phillips
• Godrej Industries
• Gujarat State Fertilizers & Chemicals
• IDFC
• IFCI
• India Cements
• Indian Bank
• Infibeam Avenues
• IRB Infrastructure Developers
• Jain Irrigation Systems
• Kaveri Seed Company
• Karnataka Bank
• Mangalore Refinery and Petrochemicals
• NHPC
• Oriental Bank of Commerce
• PC Jeweller
• Repco Home Finance
• Reliance Power
• South Indian Bank
• Suzlon Energy
• Syndicate Bank
• Tata Communications
• TV18 Broadcast
• V-Guard Industries
• Wockhardt

10 percent:

• BSL
• Daikaffil Chemicals
• Jhandewalas Foods
• Arshiya

5 percent:

• Emami Realty

• JSW Energy promoters created pledge of 26 lakh shares and released pledge of 4.42 crore shares from June 18-19.
• JSW Steel promoter Sahyog Holdings created pledge of 10 lakh shares on June 25.
• Emami promoters revoked pledge of 59 lakh shares from June 21-24.
• Kalpataru Power Transmission promoters revoked pledge of 40 lakh shares from June 24-25.
• Gati promoter Mahendra Kumar Agarwal & Sons HUF created pledge of 25,000 shares on June 25.
• Cigniti Technologies promoter Chakkilam Rajeshwari revoked pledge of 2.25 lakh shares on June 26.
• Apollo Hospital Enterprise promoter Suneeta Reddy revoked pledge of 1.8 lakh shares on June 21.
• Birlasoft promoter National Engineering Industries created pledge of 4.6 crore shares on June 24.
• Adani Ports and SEZ promoter Gautam Adani & Rajesh Adani created pledge of 4.4 lakh shares on June 24.

• Sintex Plastics Technology: Barclays Merchant Bank sold 34.76 lakh shares or 0.55 percent equity at Rs 6.72 each.

DB Realty

• Kemnay Investment Fund acquired 52 lakh shares or 2.14 percent equity at Rs 13.25 each.
• Walkinson Investments sold 52 lakh shares or 2.14 percent equity at Rs 13.25 each.

Aster DM Healthcare

• Rimco India acquired 82.87 lakh shares or 1.64 percent equity at Rs 120 each.
• True North Fund sold 82.87 lakh shares or 1.64 percent equity at Rs 120 each.

• Cox & Kings made part-payment on Rs 200 crore CPs. The company repaid two investors Rs 50 crore out of Rs 200 crore due on June 26. Remaining Rs 150 crore will be paid through internal accruals and asset monetisation.
• Godrej Group sought advice from external partners on options for long-term strategy plan. The Group stated that these talks are normal and a private family discussions. (Company Statement)
• Quess Corp board has deferred the proposal of raising of funds. The company plans to consider the proposal at later date.
• Tata Motors Jaguar Land Rover Automotive Plc five-year senior CDS widened two points to seven points upfront, the most since Feb. 8, according to data provider CMA. The CDS market implied default probability over the next five years is now at 43 percent. (Bloomberg News)
• Lupin received tentative U.S. FDA approval for Mirabegron ER Tablets, to market generic version for Myrbetriq ER Tablets of Astellas.
• NMDC served notice to Bharat Heavy Electricals for termination of contract for a raw material handling system at its steel plant in Nagarnar due to “abysmal” progress and delay of more than five years from original completion date, iron ore miner says in statement. NMDC will explore new options to quickly complete the work at the project. (Bloomberg News)
• Sobha, Prestige Estate Projects, Brigade Enteprises, Puravankara: Government of Karnataka is planning to deny permission for building new apartments in Bengaluru for the next five years until the water crisis in the city is resolved. (Media Reports)
• 8K Miles Software Services board meeting set for June 28 for approval of financial results has been adjourned to July 18. Company says audit of subsidiary companies are still in progress.
• Vedanta Zambian High Court granted the company an order to stay the powers of the Konkola Copper Mines provisional liquidator to sell or dispose of KCM’s assets through public tender, or to make any arrangements with creditors, the company said in an emailed statement. (Bloomberg News)
• Excel Industries Board approved acquisition chemical manufacturing unit of NetMatrix Cropcare for Rs 95 crore. The said unit was commissioned in May for manufacturing of a pesticide intermediate.
• Can Fin Homes MD and CEO Sarada Kumar Hota resigned on June 27, as a consequence of his appointment as MD of National Housing Bank.
• MMTC has considered sale of its stake in JV Company Neelachal Ispat Nigam.
• IL&FS unable to service NCDs interest due on June 27. (Bloomberg News)

• India fiscal deficit for April-May period
• India eight infrastructure industries index for May
• India Q1 BoP current account balance, Bloomberg Estimates at -$6.05 billion

• Brent crude rose 0.3 percent to $65.73 per barrel.
• West Texas Intermediate crude was flat at $59.43 a barrel.
• Gold rose 0.3 percent to $1,414.27 an ounce.

London Metal Exchange

• Copper ended little changed.
• Zinc ended lower for the second day, down 1.24 percent.
• Nickel ended higher for the fourth consecutive trading session, up 1.76 percent.
• Tin halted a two-day fall, closed 0.37 percent higher.
• Aluminium ended a three-day gain, closed 1.65 percent lower.
• Lead resumed gains after a one-day blip, closed 0.62 percent higher.

Good Morning!

The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, fell 0.23 percent to 11,842 as of 8:15 a.m.

Stocks in Asia slipped on below average volumes Friday, ahead of the highly anticipated U.S.-China presidential meeting Saturday that could determine the next chapter in the trade war between the world’s two largest economies.

Indices were modestly lower in Tokyo, Hong Kong and Shanghai. U.S. stock futures edged higher following a modest gain in the Wall Street session Thursday.

Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.