Sensex, Nifty Clock Longest Gaining Streak In Seven Months
Catch all the live updates on share prices, index moves, corporate announcements and more from Sensex and Nifty today
KEY HIGHLIGHTS
Closing Bell: Sensex, Nifty Log Longest Gaining Streak In Seven Months
Indian equity benchmarks extended gains for the sixth consecutive trading session, their longest stretch of gains in seven months.
The S&P BSE Sensex rose 0.64 percent to close at 39,301.22 and the NSE Nifty 50 rose 0.65 percent to to end at 11,661.75. The broader markets represented by the NSE Nifty 500 Index rose 0.92 percent.
The market breadth was tilted in favour of buyers. About 1,288 stocks advanced and 491 shares declined on National Stock Exchange.
Ten out of 11 sectoral gauges compiled by NSE ended higher, led by the NSE Nifty Realty Index’s 1.7 percent gain. On the flipside, the NSE Nifty Media Index was the only sectoral loser, down 0.92 percent.
Fab Four Stocks Of The Day
BHEL
- Stock rose as much as 29.2 percent to Rs 57.60.
- Secretaries to meet today to consider divestment in at least eight PSUs
L&T Infotech
- Stock rose as much as 4.4 percent to Rs 1,565.
- Revenue rose 3.5 percent to Rs 2,570.7 crore.
- Net profit rose 1.2 percent to Rs 360.1 crore.
- EBIT rose 0.7 percent to Rs 379.7 crore.
- Margin stood at 14.8 percent versus 15.2 percent.
Delta Corp
- Stock rose as much as 7.4 percent to Rs 192.
- Radhakishan S Damani holds 1.53 percent stake in company, as per September’s Shareholding Data
- Alert: His name wasn't in June Shareholding, so may be it's fresh addition, or he held less than 1 percent earlier.
Venus Remedies
- Stock rose 17 percent.
- Company sold its patented product Elores to the Cipla for the Indian markets.
- This drug is used for treatment of life-threatening infections caused by bacteria.
Market Check: Sensex, Nifty Set To End Higher For Sixth Day
Indian equity benchmarks extended gains for the sixth consecutive trading session, their longest gaining streak in seven months.
The S&P BSE Sensex rose 0.65 percent to 39,306 as of 3 p.m. and the NSE Nifty 50 rose 0.69 percent to 11,666.45. The broader markets represented by the NSE Nifty 500 Index rose 0.97 percent.
Stocks Moving On Heavy Volumes
3M India
- Stock fell as much as 9.9 percent to Rs 20,610.
- Trading volume was more than 80 times its 20-day average.
Ratnamani Metals
- Stock fell as much as 2.8 percent to Rs 900.35.
- Trading volume was almost 16 times its 20-day average.
Great Eastern Shipping
- Stock rose as much as 7.1 percent to Rs 299.
- Trading volume was almost nine times its 20-day average.
Bharat Heavy Electricals
- Stock rose as much as 29.2 percent to Rs 57.60.
- Trading volume was more than 12 times its 20-day average.
Sundaram-Clayton Gains After Q2 Results
Shares of Sundaram-Clayton rose 3.9 percent to Rs 2,039 after announcing its September quarter results. The stock had advanced as much as 12.7 percent earlier.
Key Earnings Highlights (Q2, YoY)
- Revenue down 10.4 percent to Rs 5220.8 crore.
- Net profit up 9.2 percent to Rs 149.8 crore.
- Ebitda down 6.1 percent to Rs 626 crore.
- Margins at 12 percent versus 11.4 percent.
- Exceptional gain of Rs 69 crore in the current quarter.
Market Check: Sensex, Nifty At Day’s High
Indian equity indices were trading at day’s high.
The S&P BSE Sensex rose 0.67 percent to 39,314 as of 2 p.m. and the NSE Nifty 50 rose 0.66 percent to 11,663.70. The broader markets represented by the NSE Nifty 500 Index rose 0.93 percent.
The market breadth was tilted in favour of buyers. About 1,298 stocks advanced and 447 shares declined on National Stock Exchange.
Global Markets Update: Europe Shares Decline
Stocks fell in Europe alongside U.S. index futures after a mixed bag of economic data from China, and as earnings season rolled on.
- The Stoxx Europe 600 Index sank 0.4 percent.
- Futures on the S&P 500 Index fell 0.3 percent.
- France’s CAC 40 Index dropped 0.7 percent.
- The U.K.’s FTSE 100 Index decreased 0.5 percent.
- Turkey’s Borsa Istanbul 100 Index climbed 3.5 percent.
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Source: Bloomberg
Alicon Castalloy Surges After Order Win
Shares of Alicon Castalloy rose as much as 14.6 percent, the most since July 2017, to Rs 398.95.
The company was awarded multi-year contract aggregating to Rs 810 crore from Jaguar Land Rover, Daimler, Samsung SDI and Mahle.
Trading volume was 14 times its 20-day average, according to Bloomberg data. Of the shares traded, 55 percent were at the ask price and 34 percent were at the bid.
ARSS Infrastructure Projects Gains After JV Wins Order
Shares of ARSS Infrastructure Projects rose as much as 4.9 percent to Rs 24.44
The company’s joint venture bagged an award worth Rs 76.15 crore for construction of handling platforms, railway track, truck parking area, buildings and other ancillary facilities For IFFCO at MMLP Paradip, according to its stock exchange filing.
Trading volume was almost three times its 20-day average, according to Bloomberg data.
Large Trade Alert: Lakshmi Vilas Bank
About 14.8 lakh shares of Lakshmi Vilas Bank changed hands in a large trade, Bloomberg data showed. Buyers and sellers were not known immediately.
Market Check: Sensex, Nifty Hold Gains
Indian equity benchmarks traded higher after a topsy-turvy opening session.
The S&P BSE Sensex and the NSE Nifty 50 rose 0.5 percent each at 39,247 and 11,644 respectively as of noon. The broader markets represented by the NSE Nifty 500 rose as much as 0.7 percent.
Global Market Cues: U.S. Stock Futures Decline
Asian stocks drifted after a mixed bag of economic data from China. Shares in Hong Kong traded flat, while equities in Tokyo, Shanghai and Seoul slipped along with U.S. futures.
- Futures on the S&P 500 fell 0.2 percent.
- The underlying gauge rose 0.3 percent.
- Japan’s Topix slid 0.2 percent.
- Hang Seng fell 0.1 percent.
- Shanghai Composite fell 0.6 percent
- Australia’s S&P/ASX 200 Index dipped 0.6 percent.
- Euro Stoxx 50 futures slid 0.4 percent.
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Source: Bloomberg
F&O Check: Nifty 11,600 Call Option Contract Gains 48%
Nifty’s 11,600 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 Oct. 24, rose 19.8 percent to Rs 94.80. Over 4.32 lakh shares were added to the open interest which stood at over 12.85 lakh shares.
Nifty Metal Index Best NSE Sectoral Performer
Seven out of 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty Metal Index’s 1.29 percent gain. On the flipside, the NSE Nifty Media Index was the top sectoral loser, down 1.8 percent.
RIL Hits Rs 9 Lakh Crore In Market Capitalisation Ahead Of Q2 Results
Reliance Industries Ltd. hit Rs 9 lakh crore in market capitalisation ahead of Q2 results.
Shares of the company extended gains for the fifth consecutive trading session. The stock rose as much as 2.3 percent to Rs 1,427.
Market Check: Sensex, Nifty Trade Higher
Indian equity benchmarks traded higher after a volatile opening session.
The S&P BSE Sensex rose 0.33 percent to 39,178 as of 10 a.m. and the NSE Nifty 50 rose 0.3 percent to 11,621. The broader markets represented by the NSE Nifty 500 Index rose 0.56 percent.
Large Trade Alert: Reliance Power, Yes Bank
- Reliance Power: About 15.9 lakh shares of the company changed hands in a large trade.
- Yes Bank: About 13 lakh shares of the company changed hands in a large trade.
Buyers and sellers were not known immediately
Source: Bloomberg
Stocks Reacting To Results Announcement
L&T Infotech (Q2, QoQ)
- Stock rose as much as 4.4 percent to Rs 1,565.
- Revenue rose 3.5 percent to Rs 2,570.7 crore.
- Net profit rose 1.2 percent to Rs 360.1 crore.
- EBIT rose 0.7 percent to Rs 379.7 crore.
- Margin stood at 14.8 percent versus 15.2 percent.
Cyient (Q2, QoQ)
- Stock rose as much as 2.5 percent to Rs 459.
- Revenue rose 6.4 percent to Rs 1,159 crore.
- Net profit rose 9.4 percent to Rs 98.5 crore.
- EBIT rose 12.9 percent to Rs 111.5 crore.
- Margin stood at 9.6 percent versus 9.1 percent.
- Declared dividend of Rs 6 per share.
DHFL (Q1, YoY)
- Stock rose as much as 4.9 percent to Rs 21.45.
- Net interest income fell 75 percent to Rs 165.9 crore.
- Net loss stood at Rs 215.5 crore versus net profit of Rs 429 crore.
- Net loss on fair value changes to Rs 236.4 crore in Q1.
Jay Bharat Maruti (Q2, YoY)
- Stock fell as much as 6.8 percent to Rs 183.
- Revenue fell 25.3 percent to Rs 411 crore.
- Net profit fell 76.8 percent to Rs 3.8 crore.
- Ebitda fell 37.9 percent to Rs 30.1 crore.
- Margin stood at 7.3 percent versus 8.8 percent.
South Indian Bank (Q2, YoY)
- Stock rose as much as 6.5 percent to Rs 10.60.
- Net interest income rose 15.2 percent to Rs 584.3 crore.
- Net profit rose 20.5 percent to Rs 84.5 crore.
- Provisions stood at Rs 306.3 crore versus Rs 205 crore.
- GNPA to 4.92 percent versus 4.96 percent QoQ.
- NNPA to 3.48 percent versus 3.41 percent QoQ.
L&T Finance Swings After Large Trade
Shares of L&T Finance fluctuated between gains and losses to trade little changed at Rs 85.70.
About 10 lakh shares of the company changed hands in a large trade, Bloomberg data showed. Buyers and sellers were not known immediately.
Of the shares traded, 61 percent were at the ask price and 32 percent were at the bid, Bloomberg data showed.
Zee Entertainment Falls After Q2 Results
Shares of Zee Entertainment fell as much as 6.1 percent to Rs 248 after the company announced its September quarter results.
Key Earnings Highlights (Q2, YoY)
- Revenue rose 7.4 percent to Rs 2,122 crore.
- Net profit rose 6.9 percent to Rs 413.2 crore.
- Ebitda rose 4.7 percent to Rs 684.2 crore.
- Margin stood at 32.2 percent versus 33.1 percent.
- Exceptional loss of Rs 171 crore in the current quarter.
BHEL Surges The Most In Over A Decade
Shares of Bharat Heavy Electricals rose as much as 26.6 percent, the most since May 2009, to Rs 56.45. The stock extended gains for the second consecutive trading session.
A group of secretaries will meet on Oct. 18 to consider cutting the government’s holding below 51 percent in at least eight public-sector companies, a person familiar with the matter said, as the Modi administration looks to bridge the budget gap.
Trading volume was more than 15 times its 20-day average, Bloomberg data showed. Of the shares traded, 54 percent were at the ask price and 35 percent were at the bid.
3M India Slumps After Large Trade
Shares of 3M India fell as much as 9.9 percent, the most in over a month, to Rs 20,610.
About 2,00,173 shares 1.8 percent equity of the company changed hands in large trade, Bloomberg data showed. Buyers and sellers were not known immediately.
Trading volume was almost six times its 20-day average, according to Bloomberg data. The Relative Strength Index was above 70, indicating that the stock may be overbought. The scrip had ended 11 percent higher on Thursday.
Opening Bell: Sensex, Nifty Open Lower
Indian equity benchmarks opened lower after gaining for five straight trading sessions.
The S&P BSE Sensex fell 0.13 percent to 38,985 and the NSE Nifty 50 fell 0.2 percent to 11,562. The broader markets represented by the NSE Nifty 500 Index fell 0.19 percent.
The market breadth was tilted in favour of buyers. About 757 stocks advanced and 533 shares declined on National Stock Exchange.
Nine out of 11 sectoral gauges compiled by NSE traded lower, led by the NSE Nifty Media Index’s 1.3 percent gain. On the flipside, the NSE Nifty Realty Index was the top sectoral loser, down 0.25 percent.
Your Complete F&O Trade Setup
Futures
- Nifty Oct futures closed at 11600.6, premium of 14.3 points versus 11.5 points
- Nifty Oct futures down 1.4 percent, sheds 1.9 lakh shares in OI
- Nifty Bank futures closed at 29,079.6, premium of 90.2 points versus 65.9 points
- Nifty Bank Oct futures OI up 3 percent, adds 38,000 shares in OI
Options
- Nifty PCR at 1.40 versus 1.31 (across all series)
Nifty Weekly Expiry: Oct 24
- Max OI on call side at 11,500 (8.7 lakh shares)
- Max OI on put side at 11,500 (11.5 lakh shares)
- OI addition seen at 11500P (+10.3 lakh shares), 11,400P (7.2 lakh shares)
Nifty Monthly Expiry: Oct 31
- Max OI on call side at 12,000 (21.8 lakh shares)
- Max OI on put side at 11,000 (30.5 lakh shares)
BQ Heads-Up: Who’s Meeting Whom
- MCX to meet JP Morgan AMC, UBS Securities and other investors from Oct. 18-25.
BQ Heads-Up: Trading Tweaks
- NIIT record date for share buyback.
- Mirc Electronics, ITD Cementation, Zee Media Corp, Pil Italica Lifestyle to move into ASM Framework.
- Eveready Industries, Alembic, Ramky Infrastructure to move out of short term ASM Framework.
- GTL Infrastructure, GVK Power & Infrastructure, Venus Remedies, GTL, Prime Focus to move into short term ASM Framework.
- BF Utilities, Adani Green Energy, ITDC price band revised to 10 percent.
Money Market Update: Rupee Opens Little Changed
The Indian rupee opened little changed at 71.18 compared to yesterday’s close of 71.16 against the U.S. dollar.
Pre-Market Check: Sensex, Nifty Suggests Tepid Start
Indian equity indices suggests tepid start.
The S&P BSE Sensex and the NSE Nifty 50 traded little changed at 39,202 and 11,606 during the pre-market trade.
Q2 Earnings Corner: Ambuja Cements, ICICI Lombard, L&T Technology Services, RIL
Nifty Earnings To Watch
- Reliance Industries
Other Earnings To Watch
- ICICI Lombard General Insurance
- L&T Finance Holdings
- L&T Technology Services
- Ambuja Cements
- Sundaram Clayton
- Central Depository Services (India)
- Kirloskar Ferrous Industries
- Pioneer Distilleries
- Sasken Technologies
Earnings Reaction To Watch
Zee Entertainment Enterprises (Q2, YoY)
- Revenue rose 7.4 percent to Rs 2,122 crore.
- Net profit rose 6.9 percent to Rs 413.2 crore.
- Ebitda rose 4.7 percent to Rs 684.2 crore.
- Margin stood at 32.2 percent versus 33.1 percent.
- Exceptional loss of Rs 171 crore in the current quarter.
LT & Infotech (Q2, QoQ)
- Revenue rose 3.5 percent to Rs 2,570.7 crore.
- Net profit rose 1.2 percent to Rs 360.1 crore.
- EBIT rose 0.7 percent to Rs 379.7 crore.
- Margin stood at 14.8 percent versus 15.2 percent.
Cyient (Q2, QoQ)
- Revenue rose 6.4 percent to Rs 1,159 crore.
- Net profit rose 9.4 percent to Rs 98.5 crore.
- EBIT rose 12.9 percent to Rs 111.5 crore.
- Margin stood at 9.6 percent versus 9.1 percent.
- Declared dividend of Rs 6 per share.
DHFL (Q1, YoY)
- Net Interest Income fell 75 percent to Rs 165.9 crore.
- Net loss stood at Rs 215.5 crore versus net profit of Rs 429 crore.
- Net loss on fair value changes to Rs 236.4 crore in Q1.
Jay Bharat Maruti (Q2, YoY)
- Revenue fell 25.3 percent to Rs 411 crore.
- Net profit fell 76.8 percent to Rs 3.8 crore.
- Ebitda fell 37.9 percent to Rs 30.1 crore.
- Margin stood at 7.3 percent versus 8.8 percent.
South Indian Bank (Q2, YoY)
- Net Interest Income rose 15.2 percent to Rs 584.3 crore.
- Net profit rose 20.5 percent to Rs 84.5 crore.
- Provisions stood at Rs 306.3 crore versus Rs 205 crore.
- GNPA to 4.92 percent versus 4.96 percent QoQ.
- NNPA to 3.48 percent versus 3.41 percent QoQ.
September Aviation Data
- Aviation industry passenger growth stood at 1 percent
- IndiGo’s air passenger growth stood at 13 percent – slowest in last 22 months.
- SpiceJet’s air passenger growth stood at 25 percent – slowest in last four months.
- India sees 2019 air traffic growth 4-6 percent : Bloomberg News
- India expects double digit air traffic growth early next year: Bloomberg News
Stocks To Watch: Alicon Castalloy, Cipla Nocil
- Nocil has started trials runs towards manufacture of rubber chemicals at company’s plant in Dahej, Gujarat. In January 2018, the board had approved capex of Rs 255 crore for expansion of capacities in Navi Mumbai and Dahej.
- Alicon Castalloy awarded multi-year contract aggregating to Rs 810 crore from Jaguar Land Rover, Daimler, Samsung SDI and Mahle.
- Cipla: Venus Remedies sold its patented product Elores to the company for the Indian markets. This drug is used for treatment of life-threatening infections caused by bacteria.
- Gruh Finance and Bandhan Bank has filed orders passed by the National Company Law Tribunal regarding their amalgamation to the Registrar of Companies.
- FDC has entered into definitive agreement (including a trademark assignment deed) with GlaxoSmithKline Pharmaceuticals Limited for acquiring the registered Trademark "ENTEROPLUS" from GSK.
- AksharChem has planned shutdown of Vinyl Sulphone plant at Mehsana from Oct. 18-31, to carry out major repairs and maintenance.
- Reliance Capital has said that it has delayed the payment of NCS’s interest/ principle obligation which due on Oct. 16-17. The company expects that the debt servicing of the company in relation to accelerated amounts and otherwise will be delayed.
- L&T Infotech to acquire 100 percent stake in PowerupCloud Technologies for value estimated at $15 million. The target company deals with consultancy for cloud consulting and product platforms.
- Future Enterprises to seek shareholder’s nod for release and disposal/sale of specific assets of the company on Nov. 7.
- Avenue Supermarts has allotted non-convertible debentures worth Rs 100 crore on a private placement basis.
- KPR Mill to proceed with its buyback offer, with record date set as June 19.
- ICRA: NCLT has sanctioned merger of the company’s two arms with self.
- Indiabulls Housing Finance to consider fund raising via issue of bonds on Nov. 6.
- Shemaroo Entertainment approved raising up to Rs 250 crore.
- Arvind Fashions to consider raising funds on Oct. 23.
- Zuari Global to consider raising funds via NCDs on Oct. 24.
- IST: Board approved share split of one equity share to two equity shares. Record date set as Nov. 4.
Global Cues: Oil Extends Gain
- Oil extended gains in Asian trading on Friday after a U.S. government report showed large declines in fuel inventories, outweighing a bigger-than-expected crude build.
- A historic pound rally was stopped in its tracks by doubts over whether a Brexit deal can win the approval of U.K. lawmakers.
- U.S. stocks climbed toward all-time highs amid a spate of mostly positive earnings reports.
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SGX Nifty Suggests Stock Losses; Asian Stocks Trade Higher
Good Morning!
The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, fell 0.28 percent to 11,572 as of 8:20 a.m.
Asian stocks headed for their highest close since July on Friday after U.S. shares edged closer to a record.
Stocks in Tokyo and Seoul rose Friday, while Australia’s benchmark dipped. Hong Kong and Shanghai had modest gains.
Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.