Sensex, Nifty Gain Most In Three Weeks; Financials Outperform

Indian equities had a session marred by a technical outage that disrupted trading on the National Stock Exchange for nearly five hours.

Once trading resumed at 3:45 P.M., benchmark indices saw a big upmove that saw them gaining the most in three weeks.

The S&P BSE Sensex ended 2% or over 1,000 points higher at 50,781 while the NSE Nifty 50 index gained 1.9% to end near the mark of 15,000 at 14,982.

It was the day of financials to outperform in today's session. The Nifty Bank index gained over 1,300 points or nearly 4% with gains led by HDFC Bank, Axis Bank and State Bank of India. The PSU Bank index also ended with gains of 2.8%.

The Nifty Media index ended with gains of 1.4% while the Nifty Metal and Nifty Realty index ended 0.8% higher. FMCG, I.T., Pharma and Auto indices were little changed.

Broader markets also ended with gains but underperformed the benchmark indices. The Nifty Midcap index ended 1% higher while the Smallcap index closed with gains of 0.9%.

The India Volatility Index fell 4.2% to end at 24.17.

1,227 stocks on the NSE ended with gains while 600 stocks ended lower.

• Rene Mulder appointed as Country Head and Managing Director, Switzerland.
• Mulder has worked in leadership roles with Siemens, Swisscom, T-Systems and DXC Technologies.
• Shares trade 1.2% higher at Rs 420.5.

• Nifty up 0.6% at 14,800
• Sensex up 0.7% at 50,105
• Nifty Bank up 1.5% at 35,666
• Nifty Midcap index up 0.5%
• Nifty Smallcap index up 0.6%
• India Volatility Index down 3.3% to 24.4
• Nifty PSU Bank index remains the top sectoral gainer; up 2.4%
• Nifty Media index gains 1.2% while Metal and Realty indices gain 0.6% each
• Coal India remains the top Nifty gainer; up 4.7%
• GAIL remains the top Nifty laggard; down 2.4%
• 1,187 stocks on the NSE trade with gains while 630 are declining

Trading resumed on the National Stock Exchange after five hours of outage with the index opening 0.39% higher at 14,763.

The trading time on both the exchanges has been extended to 5 P.M. Many experts had called for an extension in trading hours ahead of the F&O series expiry tomorrow.

The Nifty Bank index has resumed 1.5% higher above the mark of 35,600 while the PSU Bank index is up 2.5%. I.T. and Pharma stocks are underperforming at the resumption of trade. The I.T. index is down nearly 1% while the Pharma index is declining 0.6%.

• Normal Market open time: 15:45 P.M.
• Normal Market close time: 17:00 P.M.
• Trade Mod cut off time: 17:30 P.M.
• Call Auction Illiquid session open time (1 sessions of 1 hour): 16:00 P.M.
• Post close start time: 17:10 P.M.
• Post close end time: 17:30 P.M.
• Trade Mod cut off time: 17:45 P.M.

From NSE Spokesperson

• Blackstone-owned Sona BLW Precision Forgings Ltd. looks to raise up to Rs 6,000 crore through an IPO.
• The company plans a fresh issue of Rs 300 crore while its controlling shareholder, a Blackstone affiliate plans to raise as much as Rs 5,700 crore through an OFS.
• Sona BLW plans to repay Rs 225 crore of loans using the IPO proceeds.
• Singapore VII Topco III Pte., a Blackstone affiliate, owns 66.3% of the auto component maker.
• Kotak Mahindra, Credit Suisse, JM Financial, JPMorgan and Nomura are the bookrunners for the IPO.

From Bloomberg

• Second best performer on the BSE Midcap index
• Gains as much as 7.4% to Rs 1,589
• Up for the second straight day
• Today's volumes are 55% above its 20-day average
• Relative Strength Index (RSI) at 65
• 11 out of the 30 analysts tracking the stock have a 'buy' rating; 12 sell calls
• The stock trades 10.7% higher than its 12-month Bloomberg consensus price target of Rs 1,382.6

• Gets regulatory nod for its Abbreviated New Drug Application (ANDA) for Acetaminophen, Asprin and Caffeine Tablets USP, 250 mg/250 mg/65 mg (OTC).
• Bioequivalent to the reference listed drug product, Excedrin Migrane Tablets, 250 mg/250 mg/65 mg of GSK Healthcare.
• Product to be manufactured at the company's Hyderabad facility and is expected to be launched shortly.

Shares gained as much as 2.2% to Rs 329 and are up for the second straight day.

The National Stock Exchange of India Ltd. shut trading in its cash and derivative segments, citing “issues” with telecom links of its two service providers, which it said impacted the system and stopped prices from updating.

A similar disruption took place in July 2017, when the NSE shut both the cash and derivatives segments due to technical issues, with traders unable to execute trades at its venue and prices not updating.

• Strategic partnership with the brand 'Tarun Tahiliani' for its current couture business as well as launch of a new line of affordable premium men's ethnic wear.
• Approves acquisition of 33.5% stake in Goodview Properties Pvt. Ltd. through a Share Purchase & Subscription Agreement along with a Shareholders Agreement.
• Current couture business under the brand 'Tarun Tahiliani' will be run with this entity.
• To acquire 80% stake in a new entity being incorporated as a part of this transaction to develop and launch a new brand of apparel and accessories, in the affordable premium ethnic wear.
• 33.5% stake in GPPL to be acquired for a cash consideration of Rs 67 crore and to be completed within 45-60 days.
• Option to increase 33% stake in luxury couture business to 51% in the next few years.

Shares gained as much as 5.6% to Rs 177.9 - the highest in over a month. The stock is up for the fifth straight day.

• Revenue up 47% at Rs 294.7 crore Vs Rs 200.4 crore
• Net profit of Rs 33.5 crore Vs Rs 8.9 crore
• Ebitda margin at 14.5% Vs 8.2%
• Working capital cycle has improved to 47 days in December from 54 days in March
• Reduced debt by Rs 134 crore during the quarter
• Plan to be a zero debt company in the near-term

Shares are off the day's high, after gaining as much as 10% to Rs 535.8. The stock is up for the third straight day.

• Nifty up 0.7% at 14,805
• Sensex up 0.7% at 50,101
• Nifty Bank up 1.3% at 35,556
• Nifty Midcap index up 0.7%
• Nifty Smallcap index up 1.1%
• India Volatility Index down 3% to 24.47
• PSU Bank index is the top sectoral gainer; up 3.2%
• Nifty Media and Nifty Metal index gain 1% each
• Nifty Realty and Nifty Auto index up 0.9% each
• Coal India is the top Nifty gainer; up 4.5%
• GAIL is the top Nifty laggard; down 1.3%
• 1,347 stocks on the NSE trade with gains while 402 stocks decline

Indian equities opened little changed in mid-week trading, even as futures were indicating gains of as much as 60 points. Sentiment across the Asia-Pacific is mixed this morning.

The S&P BSE Sensex opened 12 points higher at 49,763 while the NSE Nifty 50 index opened 21 points higher at 14,729.

Most sectoral indices have opened flat this morning. The Nifty Pharma index has opened 0.6% higher while the Auto index is up 0.3%. The Nifty Bank has opened with gains of close to 100 points this morning.

Broader markets continued their outperformance from Tuesday. The Nifty Midcap index has opened 0.6% higher while the Small cap index is up 0.5% at the start of trade.

1,267 stocks on the NSE are trading with gains while 355 are declining this morning.

Good Morning!

Indian equities failed to sustain at the day's high on Tuesday, ending with modest gains, snapping a five-day losing streak in the process.

Metal stocks along with oil sensitives continued their outperformance while banking stocks had a volatile session.

Futures are indicating gains at the start of the mid-week trading session. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, rose 0.53% to 14,791 as of 8:05 a.m.

Asian equities are mixed while treasury yields are steady this morning. Japanese equities resumed trading after a holiday and are underperforming while Australian shares dipped. Hong Kong stocks are trading with modest gains.

Futures on the Dow Jones are trading with gains of 20 points. The index ended flat overnight. Investors are assessing Fed Chair Jerome Powell's statement of continued policy support from the Federal Reserve.

The U.S. Dollar fell against major peers while the pound was at the highest since April 2018.

West Texas Intermediate crude fell 0.7% to $61.26 per barrel while bitcoin fell below the mark of $50,000.

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