Sensex, Nifty End Volatile Session With Minor Losses

Indian equities ended a volatile session with minor losses, extending declines for the third consecutive trading session.

The S&P BSE Sensex fell 0.2 percent to close at 40,281.20 and the NSE Nifty 50 fell 0.27 percent to end at 11,797.90. The broader markets represented by the NSE Nifty 500 Index fell 0.34 percent.

The market breadth was tilted in favour of sellers. About 1,056 stocks declined and 714 shares advanced on National Stock Exchange.

Six out of 11 sectoral gauges compiled by NSE ended lower, led by the NSE Nifty Pharma Index’s 2.2 percent fall. On the flipside, the NSE Nifty Realty Index was the top sectoral gainer, up 0.93 percent.

Navin Fluorine

• Stock rose as much as 19.6 percent to Rs 1,450.
• The company signed a multi-year contract worth $410 million for fluorochemicals supply.

Camlin Fine Sciences

• Stock rose as much as 9.9 percent to Rs 74.05.
• China joint venture’s manufacturing facility resumes operations.

Havells

• Stock rose as much as 3.4 percent to Rs 647.65.
• Traders take fresh long positions; OI up 35 percent.

Phoenix Mills

• Stock rose as much as 13.1 percent to hit an all-time high at Rs 979.

Sterling & Wilson Solar

• Stock rose as much as 9.3 percent to Rs 202.
• Trading volume was eight times its 20-day average.

TVS Motor Company

1. Stock fell as much as 6.7 percent to Rs 409.45.
2. Trading volume was more than six times its 20-day average.

Finolex Cables

• Stock fell as much as 2.3 percent to Rs 348.05.
• Trading volume was almost seven times its 20-day average.

V-Guard Industries

• Stock rose as much as 2.4 percent to Rs 205.80.
• Trading volume was six times its 20-day average.

Shares of Navin Fluorine rose as much as 19.6 percent, the most since October 2016, to hit an all-time high at Rs 1,450.

The company signed a multi-year contract worth $410 million for fluorochemicals supply

Trading volume was almost nine times its 20-day average, Bloomberg data showed. The Relative Strength Index was above 70, indicating that the scrip may be overbought.

European stocks gained and U.S. equity-index futures jumped on Tuesday as the selloff that wiped out this year’s global equity gains showed signs of easing.

• The Stoxx Europe 600 Index gained 0.5 percent of 8:05 a.m. London time.
• Futures on the S&P 500 Index climbed 0.9 percent.
• The MSCI All-Country World Index dipped 0.1 percent.
• The U.K.’s FTSE 100 Index gained 0.5 percent.

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Source: Bloomberg

Indian equities continued to fluctuate between gains and losses.

The S&P BSE Sensex fell 0.2 percent to 40,272 and the NSE Nifty 50 fell 0.3 percent to 11,792.

About 49.2 lakh shares of GMR Infrastructure changed hands in two large trades, Bloomberg data showed. Buyers and sellers were not known immediately.

Shares of Phoenix Mills extended gains for the second consecutive trading session. The stock rose as much as 13.1 percent, the most since October 2017, to hit an all-time high at Rs 979.

The scrip advanced 54 percent in the past 12 months compared to a 12 percent rally in the Sensex. Phoenix Mills traded at 35 times its estimated earnings per share for the coming year, Bloomberg data showed.

Shares of India Cements resumed gains after a one-day blip. The stock rose as much 13.8 percent, the most since Feb. 12, 2015, to Rs 84.50.

The scrip advanced in three out of four trading sessions. Trading volume was nine times its 20-day average, Bloomberg data showed. Of the shares traded, 42 percent were at the ask price and 51 percent were at the bid.

SBI Cards and Payments Services Ltd. has set the range for its initial public offering a Rs 750-755, according to a Bloomberg report citing terms of the deal.

SBI Cards will offer up to 66.6 lakh shares while stakeholders—State Bank of India and Carlyle Group will offload 13.05 crore shares, the report said. The IPO is expected to mop up $1.44 billion in total and the books are slated to open on March 2.

Nine out of 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty Metal Index's 0.9 percent. On the flipside, the NSE Nifty Pharma Index was the top sectoral loser, down 1.3 percent.

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

Premium on the contract, which is set to expire on Feb. 27, fell 33.42 percent to Rs 50.70. About 9.95 lakh shares were added to the open interest which stood at over 40.50 lakh shares.

Indian equities fluctuated between gains and losses in the morning trade.

The S&P BSE Sensex rose 0.2 percent to 40,453 and the NSE Nifty 50 rose 0.19 percent to 11,853. The broader markets represented by the NSE Nifty 500 Index rose 0.15 percent.

Nine out of 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty Realty Index’s 1.1 percent gain. On the flipside, the NSE Nifty Pharma Index was the top sectoral loser, down 1 percent.

Shares of Linde India fell as much as 5.2 percent, the most in nearly eight months, to Rs 731 after the company announced December quarter results.

Key Earnings Highlights (Q3, FY20)

• Revenue fell 26 percent to Rs 413 crore
• Net profit of Rs 635 crore versus Rs 15.4 crore
• Profit rose due to an exceptional gain of Rs 841 crore
• Exceptional gain on account of sale of an asset on slump basis

Shares of Tech Mahindra fluctuated between gains and losses to trade little changed at Rs 820.60 after falling for two consecutive trading sessions.

The company acquired 100 percent stake in Zen3 Infosolution—a U.S.-based company specialising in AI-based solutions.

The scrip traded at 17 times its estimated earnings per share for the coming year, according to Bloomberg data.

Shares of TVS Motor Company extended declines for the second consecutive trading session. The stock fell as much as 5.9 percent, the most since Sept. 25, 2019, to Rs 412.90.

The company said that the coronavirus outbreak impacted February production. The two-and-three-wheeler maker could see a 10 percent drop in its planned February production.

Trading volume was almost seven times its 20-day average, Bloomberg data showed. The scrip declined 7 percent in the past 12 months compared to a 13 percent gain in the Sensex.

Shares of Suzlon Energy extended gains for the third consecutive trading session. The stock rose as much as 9.4 percent to Rs 2.90.

The company plans to consider issuing shares in its meeting on Feb. 27.

Trading volume was almost 12 times its 20-day average, Bloomberg data showed. The stock advanced 26 percent in the past five days and 16 percent in the past 30 days.

Indian equities opened higher, recovering from the second-worst fall of the year.

The S&P BSE Sensex rose 0.12 percent to 40,414 and the NSE Nifty 50 rose 0.16 percent to 11,851. The broader markets represented by the NSE Nifty 500 Index rose 0.28 percent.

Seven out of 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty FMCG Index’s 1.05 percent gain. On the flipside, the NSE Nifty Pharma Index’s 0.23 percent fall.

Index Futures

• Nifty February futures closed at 11,827.5, discount of 1.8points
• Nifty futures across series open interest up 15 percent, adds 21 lakh shares in open interest
• Nifty Bank February futures closed at 30,423, discount of 32 points
• Nifty Bank futures open interest across series up 13 percent, adds 1.5lakh shares in open interest
• Rollover: Nifty at 35 percent, Nifty Bank 26 percent

Options

• Nifty PCR at 1.10 versus 1.39 (across all series)

Nifty Monthly Expiry: Feb. 27

• Max open interest on call side at 12,000 (47.7 lakh shares)
• Max open interest on put side at 11,800 (30.5 lakh shares)
• Open interest addition seen in 12,000C (+33.7lakh shares), 11,900C (+20lakh shares)
• Open interest shedding seen in 12,000P (-12.8lakh shares)

Stocks In F&O Ban

• In Ban: Yes Bank

F&O Inclusions From Feb. 28

• Info Edge
• HDFC Life
• Bandhan Bank

• Cantabil Retail to meet several fund houses included Barclays, Ambita Capital etc from Feb. 25-27.
• Castrol India to meet FSSA Investment Managers On Feb. 27.
• Sundram Fasteners to meet Spark Capital and Emkay Investment Managers on Feb. 25 & 28 respectively
• eClerx Services to meet Fidelity International on Feb. 25
• Dixon Technologies to meet Antique broking & SAIF Partners on Feb. 26

• GNA Axles: Promoter Rachhpall Singh sold 1.26 lakh shares (0.6 percent) at Rs 235.17 each.
• Delta Corp: Smaller Cap World Fund Inc sold 17.39 lakh shares (0.6 percent) at Rs 160 each.

The Anup Engineering Ltd

• Abakkus Emerging Opportunities Fund-1 bought 72000 shares (0.7 percent) at Rs 530 each
• Multiples Private Equity Fund sold 57285 shares (0.6 percent) at Rs 530 each
• Multiples Private Equity Fii I sold 1.69 lakh shares (1.7 percent) at Rs 530 each

The Indian rupee opened higher against the U.S. dollar. The home currency appreciated as much as 0.2 percent to 71.84 against the greenback.

Indian equities are set for a positive start.

The S&P BSE Sensex rose 0.25 percent to 40,463 during the pre-market trade and the NSE Nifty 50 rose 0.97 percent to 11,944.

• Tech Mahindra acquired 100 percent stake in Zen3 Infosolution—a U.S.-based company specialising in AI-based solutions.
• JSW Steel Ltd was declared the preferred bidder for the Jajang Iron Ore block in Odisha.
• Suzlon Energy to consider share issue in Feb. 27 meeting.
• HDFC Bank said Managing Director Aditya Puri sold 12.5 lakh shares between Feb 11-12; Puri to sell more equity shares held by him.
• TVS Motor said coronavirus outbreak impacted February production. The company could see a 10 percent drop in its planned February production.
• Camlin Fine Sciences said its China joint venture’s manufacturing facility has resumed operations.

• U.S. equities tumbled, with the S&P 500 dropping the most since February 2018, as authorities struggled to keep the coronavirus from spreading more widely outside China. All three main U.S. stock benchmarks slumped more than 3 percent. The Dow Jones Industrial Average and S&P erased all of their gains for the year. All 11 sectors of the S&P closed in the red.
• The Stoxx Europe 600 Index slid 3.8 percent on trading volumes well above average for the largest drop since 2016 as investors fled travel and luxury-goods shares. A gauge of credit risk on the region’s high-yield companies jumped.
• The yield on 10-year Treasuries approached the 2016 record low.
• Oil tumbled by the most in almost seven weeks as the worsening coronavirus outbreak fueled concerns that the global economy will falter.

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Good Morning!

The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, rose 0.5 percent to 11,877.50 as of 8:25 a.m.

A sell-off that wiped out global stock gains for the year eased in Asia Tuesday as authorities around the world move to keep the coronavirus from spreading.

Japan tumbled as traders came back from a holiday to catch up to the plunge in equities spurred by concerns about the potential for a global pandemic, and Australian equities fell for a second day. But U.S. futures climbed about 1 percent, South Korea’s Kospi advanced, and declines in Hong Kong and Shanghai were more modest

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