Nifty Clocks Worst F&O Series In Eight Months

Indian equity benchmark NSE Nifty 50 registered its worst F&O series in eight months.

The 50-share index fell 0.87 percent in June series, the worst since October 2018 when it declined 13.3 percent.

Today, the S&P BSE Sensex and the 50-stock gauge ended little changed at 39,586.41 and 11,841 respectively. The broader market index represented by the NSE Nifty 500 Index ended 0.1 percent higher.

The market breadth was tilted in favour of buyers. About 1,014 stocks advanced and 743 shares declined on National Stock exchange.

Six out of 11 sectoral gauges compiled by NSE advanced, led by the NSE Nifty Realty Index’s 1.9 percent gain. On the flipside, the NSE Nifty IT Index was the top sectoral loser, down 0.68 percent.

Share of the travel tour operator was locked in the lower circuit for the second day in a row and third time this week after it declined 10 percent intraday to hit a record low of Rs 40.85.

Also, Brickworks downgraded the rating on non-convertible debentures worth Rs 50 crore to AA- from AA, according to its exchange notification yesterday.

The stock declined 77 percent in the past 12 months compared with a 12 percent gain in the Sensex. Shares of the company currently trade at 2.7 times its estimated earnings per share for the coming year, Bloomberg data showed.

The Nifty is witnessing a resistance at 11,900 and the support levels at 11,720, according to Viratech Software’s Director Rahul Mohindar.

“The markets are doing decently well as the Nifty has moved out of 11,850 today and they look very much intact in the medium-to-long term,” Mohindar told BloombergQuint in an interaction.

Kiocl

• Stock rose as much as 14.2 percent to Rs 138.45.
• Company signed two pacts for the sale of pellets in the European market.

Coffee Day Enterprises

• Stock rose as much as 11.6 percent to Rs 249.95.
• Coca Cola has entered exclusive talks to pick up significant stake, ET reported
• But Coca Cola said in statement that news is speculative in nature and won’t offer any comment now.

Sunteck Realty

• Stock rose as much as 3.4 percent to Rs 439.90.
• To invest Rs 5000 crore in commercial and retail properties over next four years.

Shriram City Union

• Stock rose as much as 16.5 percent to Rs 1,572.
• Trading volume was 12 times its 20-day average.

Indian equity benchmark NSE Nifty 50 is set to clock its worst F&O series in six months.

The 50-share index has declined over 0.5 percent so far in June series, the worst since December 2018 series when it declined 0.73 percent.

Today, the benchmark indices are set to end higher for the third consecutive trading session. The S&P BSE Sensex and the 50-stock gauge traded little changed at 39,572 and 11,880

Axis bank was in focus as the stock fluctuated between gains and losses to trade 1.2 percent higher at Rs 797.90 after Bloomberg reported that the lender is considering raising at least $1.3 billion through a share sale to institutional investors.

The Godrej family, one of the largest land holders in Mumbai, has hired advisors and law firms to split its land holdings to make way for real estate development, according to a report by Business Standard.

Godrej & Boyce Chairman Jamshyd Godrej has hired JM Financial’s investment banker Nimesh Kampani, and lawyer Zia Mody from AXB Partners, to help in the reorganisation, the report said.

Read the full story here

The large private banks are in sweet spot they are well capitalised, has the ability to raise funds and troubles on the asset quality side are behind, according to HDFC Life Chief Investment Officer Prasun Gajri.

“Even if credit growth is not very high, most of the large private lenders would be able to do well in terms of growth of credit because NBFC are clearly losing market share and PSU banks still continuing to lose market share,” Gajri told BloombergQuint in an interaction, adding that the ability to make decent margins on incremental lending is also fairly strong.

Shares of the galvanized PVC manufacturer rose as much as 13.2 percent, the most in over a month, to Rs 63.50.

Trading volume was more than 12 times its 20-day average, Bloomberg data showed. Of the shares traded, 9 percent were at the ask price and 88 percent were at the bid.

Axis Bank Ltd. is considering raising at least $1.3 billion through a share sale to institutional investors, Bloomberg reported quoting people with knowledge of the matter.

The lender is talking to potential advisers about the fundraising plans to seek board approval for the sale as early as next month, the above unidentified people quoted above told Bloomberg.

Shares of India’s third-largest private sector lender pared gains and fell as much as 0.89 percent to Rs 781.60.

Indian equity benchmarks erased gains ahead of F&O expiry.

The S&P BSE Sensex fell 32 points to 39,555 as of 2:10 p.m. after surging over 200 points intraday and the NSE Nifty 50 traded at 11,830, up 0.1 percent.

The market breadth was tilted in favour of buyers. About 1054 stocks advanced and 665 shares declined on National Stock Exchange.

Shares of KIOCL extended gains for the third consecutive trading session and rose as much as 16.5 percent, the most since March 11, to Rs 141.15.

The company inked two pacts for the sale of pellets in European market, according to its stock exchange filing.

Trading volume was almost six times its 20-day average, Bloomberg data showed. The stock rose 10 percent in the past five days and fell 3.7 percent in the past 30 days.

European equities opened higher on Thursday, with miners leading the gains, as investors looked forward to the U.S.-China meeting at the Group of 20 summit.

The mid-cap index represented by the NSE Nifty MidCap 100 rose 0.46 percent.

About 68 stocks in the 100-share gauge traded higher, led by the gains in Dilip Buildcon Ltd. nd prestige Estate Projects Ltd. On the flipside, Hexaware Technologies Ltd. and Sun TV Network Ltd. were the worst performers.

HRBV Client Solutions Pvt. Ltd. expects the markets to trade rangebound in the near-term, its Founder and Chief Executive TS Harihar said.

“The Nifty is expected to trade around 100-150 points from the current levels in the near-term,” Harihar told BloombergQuint in an interaction, adding that consumptions, housing and PSU banks are the sectors expecting a lot form the budget and could get lot from the budget.

Indian equity benchmarks are trading at day’s high.

The S&P BSE Sensex rose as much as 204 points to 39,796.13 ad the NSE Nifty 50 rose as much as 0.5 percent to 11,906.65. The mid-cap index represented by the NSE Nifty MidCap 100 rose 0.44 percent.

Shriram City Union was in focus in the past hour as the stock rose as much as 14.9 percent, the most since November 2013, to Rs 1,550.

About 1.05 crore shares of IDFC changed hands in a block deal, Bloomberg data showed. Buyers and sellers were not known immediately.

Shares of the company fell 0.85 percent to Rs 35.05 after the block deal. The stock had risen 2.9 percent intraday.

Shares of Shriram City Union rose as much as 14.9 percent, the most since November 2013, to Rs 1,550.

Trading volume was almost 12 times its 20-day average, Bloomberg data showed. The stock rose 12 percent in the past five days and gained 1.4 percent in the past 30 days.

Shriram City Union traded at 11 times its estimated earnings per share for the coming year, according to Bloomberg data.

The National Stock Exchange will exclude 34 securities from the futures and options trading from Friday as these are found to be ineligible based on its enhanced selection criteria for the derivatives segment.

India’s largest bourse in a circular on April 22 had said no new contracts linked to these stocks will be issued but existing April, May and June contracts will be available for trading till their respective expiry. Today is the last trading day in the derivatives segment.

Click here to see the list of 34 stocks that will exit F&O segment from July series.

L&T’s unit— L&T Hydrocarbon Engineering, has won twin orders from Oil & Natural Gas Corporation, according to its stock exchange filing.

The orders are valued at around Rs 2,500-5,000 crore, according to the construction company’s classification.

Shares of L&T gained 0.85 percent to Rs 1,564 after the announcement.

The small-cap index represented by the NSE Nifty SmallCap 100 rose 0.5 percent outperforming the Nifty 50.

The gains in the 100-share gauge were led by Rain Industries Ltd., Reliance Communications Ltd. and DCM Shriram Ltd. On the flipside, the Jet Airways India Ltd., Infibeam Avenues Ltd. and Suzlon Energy Ltd. were the worst performers.

Ten out of 11 sectoral gauges compiled by NSE advanced, led by the NSE Nifty Realty Index’s 2.07 percent. On the flipside, the NSE Nifty IT Index was the only sectoral loser, down 0.1 percent.

Indian equity benchmarks continued to trade higher.

The S&P BSE Sensex rose 0.41 percent to 39,750.15 as of 11 a.m. and the NSE Nifty 50 hovered around 11,890, up 0.36 percent. The small-cap index represented by the NSE Nifty SmallCap 100 rose 0.5 percent outperforming the Nifty 50.

Ten out of 11 sectoral gauges compiled by NSE advanced, led by the NSE Nifty Realty Index’s 2.07 percent. On the flipside, the NSE Nifty IT Index was the only sectoral loser, down 0.1 percent.

Shares of the private lender fluctuated between gains and losses to trade 0.4 percent higher at Rs 2,477.95, after gaining for three consecutive trading sessions.

The bank plans to sell shares in HDB Financial Services Ltd. before March 31 in a deal that may raise about Rs 10,000 crore, Bloomberg reported quoting people familiar with the matter.

The stock traded at 25 times its estimated earnings per share for the coming year, according to Bloomberg data.

U.S. President Donald Trump said in a tweet that he is looking forward to talk to Prime Minister Narendra Modi regarding the ‘unacceptable’ India tariffs.

Shares of the information technology company fell for the fifth consecutive trading session, their longest losing streak in nearly two years. The stock fell as much as 2.5 percent, the most in over three months, to Rs 912.40.

The company’s Chief Executive Officer Rostow Ravanan is likely to resign in the coming weeks with infrastructure major L&T becoming a majority shareholder in the company, PTI reported quoting unnamed sources.

The Relative Strength Index on the stock was below 30, indicating that the stock may be oversold.

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

Premium on the contract fell 64.29 percent to Rs 5.25. Over 17.33 lakh shares were added to the open interest which stood at over 51.20 lakh shares.

Indian equity benchmarks extended opening gains.

The S&P BSE Sensex rose as much as 125.50 points to 39,717.58 and the NSE Nifty 50 rose as much as 0.33 percent to 11,886.75. The broader market index represented by the NSE Nifty 500 Index rose as much as 0.37 percent.

Coffee Day Enterprises was in focus as the stock rose as much as 11.98 percent, the most since June 11, 2018, to Rs 249.95 on Bombay Stock Exchange.

About 14.7 lakh shares of Bharti Airtel changed hands in a block deal, Bloomberg data showed. Buyers and sellers were not known immediately.

Shares of the telecom operator rose as much as 1.1 percent to Rs 349.50 after the block deal.

Shares of Aster DM Healthcare rose as much as 7.2 percent to Rs 128.80.

This after True North Fund sold 3.74 crore shares or 7.4 percent equity in the company at Rs 120 each.

Following are the details on who bought shares in the company:

• Ontario Pension Board acquired 27.65 lakh shares (0.55 percent) at Rs 120 each.
• HDFC MF acquired 83 lakh shares (1.64 percent) at Rs 120 each.
• Fidelity Management Trust acquired 48.3 lakh shares (0.96 percent) at Rs 120 each.
• Steinberg India Emerging Opportunities Fund acquired 25.55 lakh shares (0.51 percent) at Rs 120 each.
• Tata Aia Life Insurance acquired 50 lakh shares (0.99 percent) at Rs 120 each.

Trading volume was 2,529 times its 20-day average, Bloomberg data showed. The stock declined 19.3 percent so far this year and fell 21.8 percent in the past 12 months.

Shares of Motherson Sumi fluctuated between gains and losses to trade a little changed at Rs 119.90.

About 45.4 shares of the company changed hands in two block deals, Bloomberg data showed. Buyers and sellers were not known immediately.

Motherson Sumi traded at 18 times its estimated earnings pre share for the coming year, according to Bloomberg data.

Shares of Coffee Day Enterprises rose as much as 11.98 percent, the most since June 11, 2018, to Rs 249.95 on Bombay Stock Exchange.

Beverage maker Coca-Cola has entered exclusive talks to pick up significant stake in the country’s largest coffee chain Café Coffee Day (CCD), Economic Times reported quoting two officials in knowledge of the development.

"The news is absolutely speculative in nature and as a matter of company policy, we do not have any comments to offer at this point in time," Coca Cola India said in a statement.

Trading volume was more than 350 times its 20-day average, Bloomberg data showed. Of the shares traded, 37 percent were at the ask price and 34 percent were at the bid.

Indian equity benchmarks opened higher in today’s trade.

The S&P BSE Sensex rose as much as 0.23 percent to 39,683.61 and the NSE Nifty 50 rose as much as 0.23 percent to 11,875.05. 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 841 stocks advanced and 567 shares declined on National Stock Exchange.

Nine out of 11 sectoral gauges compiled by NSE advanced, led by the NSE Nifty Realty Index’s 0.63 percent gain. On the flipside, the NSE Nifty IT Index was the top sectoral loser, down 0.08 percent.

The Indian rupee opened lower against the U.S. dollar.

The home currency depreciated as much as 0.2 percent to 69.29 against the greenback. The risk appetite seems to be back in the region with most Asian indexes trading in the green. The rupee is likely to trade in a range of 69.15-69.60 a dollar in the day.

The Sovereign bonds continue to reel under pressure as crude oil prices above $66 a barrel rekindles worries about inflation and the health of government's finances. And the worry is evident. Yield on the benchmark bond climbed five basis points to 6.93 percent in the last session. For today, a range of 6.90-6.95 percent is expected for the 10-year note.

Indian equity benchmarks were trading higher in the pre-market open

The S&P BSE Sensex was 95 points higher at 39,677 and the NSE Nifty 50 was trading at 11,860.

The Indian rupee opened lower against the U.S. dollar. The home currency depreciated as much as 0.2 percent to 69.29 against the greenback.

Futures

• Nifty June futures closed at 11,864, premium of 17 points versus 13.9 points.
• Nifty futures across series open interest down 0.5 percent, sheds 1 lakh shares in open interest.
• Bank Nifty June futures closed at 31,172, premium of 10 points versus 31.6 points.
• Bank Nifty futures across series open interest up 0.5 percent, adds 11,000 shares in open interest.
• Nifty Rollover 55 percent, Bank Nifty Rollover 50 percent.

Options

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

Nifty Monthly Expiry 27 June

• Max open interest on call side at 12,000 (34.5 lakh shares).
• Max open interest on put side at 11,700 (39 lakh shares).
• Open interest addition seen at 11,800P (+14.4 lakh shares), 11,850P (+7.7 lakh shares).
• Open interest shedding seen at 11,800C (-11 lakh shares), 11,750C (-4.2 lakh shares).

Stocks In F&O Ban

In Ban:

• Adani Power
• IDBI Bank

Out of Ban:

• Jet Airways
• Reliance Capital

• Dhanuka Agritech: Ocean Dial Gateway To India Mauritius sold 2.44 lakh shares (0.51 percent) at Rs 400 each
• AVG Logistics: Sixth Sense India Opportunities acquired 948,000 shares at Rs 78.35 each. (Alert: Stock is listed in SME NSE Emerge Index)

Aster DM Healthcare

• Ontario Pension Board acquired 27.65 lakh shares (0.55 percent) at Rs 120 each.
• HDFC MF acquired 83 lakh shares (1.64 percent) at Rs 120 each.
• Fidelity Management Trust acquired 48.3 lakh shares (0.96 percent) at Rs 120 each.
• Steinberg India Emerging Opportunities Fund acquired 25.55 lakh shares (0.51 percent) at Rs 120 each.
• Tata Aia Life Insurance acquired 50 lakh shares (0.99 percent) at Rs 120 each.
• True North Fund sold 3.74 crore shares (7.4 percent) at Rs 120 each.

• SBI board to consider raising additional tier-1 capital on July 1. Board stated in the press release, that it will consider raising capital via Basel-III compliant debt instruments during financial year 2020.
• Mindtree Chief Executive Officer Rostow Ravanan is likely to resign in the coming weeks with infrastructure major L&T becoming a majority shareholder in the mid-sized IT company, sources told PTI.
• Bharti Airtel Africa to issue shares at 80 pence per share. Books oversubscribed on full deal size. (Bloomberg News)
• Sadhana Nitro Chem NLCT approved merger of Strix Wireless with the company
• CreditAccess Grameen completed direct assignment of Rs 138.89 crore on June 26. The company stated in the press release that it has completed one securitisation and one direct assignment transaction totaling Rs 249.24 crore in financial year 2020.
• Bharat Financial Inclusion shall be excluded from equity derivatives segment with effect from July 3.
• MSTC signed agreement with Kerala State Electricity Board for providing e-procurement services for the state’s solar projects.
• Greaves Cotton board fixed July 12 as record date for share buyback.
• Welspun India has entered into a JV with Germany’s Sense Organics and has acquired 51 percent stake in its Myanmar arm.
• M&M’s wholly owned subsidiary has filed for voluntary liquidation and upon receipt of the Order dated June 26, 2019 has been liquidated and ceased to be in existence
• Sunteck Realty is aiming to create a large portfolio with an investment of Rs 5000 crore in commercial and retail properties over the next four years.
• Reliance Infra: CARE Ratings downgraded ratings on long term facilities and short-term facilities to D from B and A4. NCDs ratings have been moved to C from B. The revision takes into account the on-going delays in debt servicing. Further, the revision in long term rating assigned to the nonconvertible debenture issues factor in the deterioration in the credit risk profile.
• Adani Ports: To raise $750 million by issuing fixed rate unsecured notes which will be listed on Singapore Exchange. Proceeds will be used primarily for capital expenditure and repaying existing debt.

Offerings

• IndiaMart IPO gets bids for about 97.5 million shares, compared with 2.69 million offered, on the last day of its sale, according to data on the National Stock Exchange. IPO gets 36.2 times demand. (Bloomberg News)

• Brent crude fell 0.44 percent to $66.05 per barrel. It ended 2.2 percent higher yesterday.
• West Texas Intermediate crude slipped 0.7 percent to $58.96 a barrel.
• Gold rose 0.2 percent to $1,411.25 an ounce.

London Metal Exchange

• Copper ended 0.89 percent lower.
• Zinc ended 1.45 percent lower, halting a two-day gain.
• Nickel ended higher for the third day, up 1.54 percent.
• Tin ended lower for the second day, down 1.42 percent.
• Aluminium ended higher for the third day, up 0.33 percent.
• Lead halted a two-day gain, closed 0.54 percent lower.

Good Morning!

The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, traded little changed at 11,877.50 as of 8:10 a.m.

Asian stocks edged up, though volumes were lower across the board, ahead of the highly anticipated meeting between Presidents Donald Trump and Xi Jinping set for Saturday morning.

Shares in Japan, South Korea and Hong Kong saw modest gains, while Australian equities dipped.

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