Sensex, Nifty End Lower For Third Consecutive Trading Session

Indian equities ended lower for the third consecutive trading session.

The S&P BSE Sensex fell 0.49 percent to close at 41,055.69 and the NSE Nifty 50 fell 0.56 percent to end at 12,045.80. The broader markets represented by the NSE Nifty 500 Index fell 0.7 percent.

The market breadth was tilted in favour of sellers. About 1,280 stocks declined and 551 shares advanced on National Stock Exchange.

All the 11 sectoral gauges compiled by NSE ended lower, led by the NSE Nifty PSU Bank Index’s 3 percent fall.

Alphageo

• Shares snapped four-day losing streak and rose as much as 20 percent to Rs 258.95.
• The company won two contracts for seismic data processing valued at Rs 130 crore.

Mishra Dhatu Nigam

• Stock rose as much as 20 percent to hit an all-time high at Rs 216.45.
• Shares surge 140 percent since its listing on April 3, 2018.

Orient Electric

• Shares surge the most in 14 months.
• Stock rose as much as 8.2 percent to Rs 275.

Mindtree

• Stock rose as much as 3.8 percent to Rs 996.40.
• Fresh longs seen with high open interest of 24 percent.

Balkrishna Industries

• Stock rose as much as 11.1 percent to Rs 1,285.
• Trading volume was more than eight times its 20-day average.

LIC Housing Finance

• Stock fell as much as 14.8 percent to Rs 351.10.
• Trading volume was almost seven times its 20-day average.

Lemon Tree Hotels

• Stock rose as much as 6.7 percent to Rs 59.80.
• Trading volume was more than six times its 20-day average.

Glenmark Pharma

• Stock fell as much as 8.5 percent to Rs 305.40.
• Trading volume was almost six times its 20-day average.

Shares of NCC extended declines for the second consecutive trading session.

The stock fell as much as 7.1 percent, the most since Feb. 1, to Rs 43.60, the lowest since October 2014.

Of the shares traded, 47 percent were at the ask price and 50 percent were at the bid, according to Bloomberg data.

Shares of Muthoot Finance extended gains for the second consecutive trading session. The stock rose as much as 17.2 percent, the most since August 2016, to hit a record high at Rs 875.45.

Trading volume was almost 30 times its 20-day average, Bloomberg data showed. The Relative Strength Index was at 76, indicating that the stock may be overbought.

Shares of Mishra Dhatu Nigam rose as much as 20 percent, the most since Match 5, 2019, to hit an all-time high at Rs 216.45.

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

European stocks rose after Chinese shares advanced with the yuan as investors took encouragement from the Asian country’s pledges to support its economy in the face of the coronavirus outbreak.

• Futures on the S&P 500 Index increased 0.3 percent as of 8:15 a.m. London time.
• Nasdaq 100 Index futures increased 0.5 percent.
• The Stoxx Europe 600 Index gained 0.4 percent.
• The MSCI Asia Pacific Index decreased 0.2 percent.
• The MSCI World Index was little changed.

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Source: Bloomberg

All the 11 sectoral gauges compiled by NSE traded lower, led by the NSE Nifty PSU Bank Index’s 2.9 percent fall.

Indian equities declined after fluctuating between gains and losses in the morning trade.

The S&P BSE Sensex fell 0.42 percent to 41,087.67 and the NSE Nifty 540 fell 0.5 percent to 12,053. The broader markets represented by the NSE Nifty 500 Index fell 0.6 percent.

Nifty’s 12,200 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. 20, fell 29.94 percent to Rs 27.15. About 8.89 lakh shares were added to the open interest which stood at over 33.84 lakh shares.

Bharti Airtel Ltd. today said in a statement that it as deposited Rs 9,500 crore and Rs 500 crore on behalf of Bharti Hexacom Ltd.

“We are in a process of completing the self-assessment exercise expeditiously and will duly make the balance payment upon completion of the same before the next hearing of Supreme Court,” the company said.

Indian equities fluctuated between gains and losses after declines for two consecutive trading sessions.

The S&P BSE Sensex and the NSE Nifty 50 traded little changed at 41,273 and 12,113 respectively. The broader markets represented by the NSE Nifty 500 Index fell 0.1 percent.

Shares of LIC Housing Finance extended declines for the second consecutive trading session. The stock fell as much as 14.8 percent to Rs 351.10.

“Life Insurance Corporation of India may expedite the process of merging its housing finance arm—LIC Housing Finance—with IDBI Bank, after the latter posts two consecutive quarters of operating profit,” Business Standard reported quoting sources with knowledge of the matter.

Of the shares traded, 44 percent were at the ask price and 36 percent were at the bid, Bloomberg data showed.

ONGC (Q3, QoQ)

• Stock fell as much as 3.9 percent to Rs 99.30.
• Revenue down 3.2 percent at Rs 23,710.1 crore (Estimate: Rs 24,007 crore)
• Net profit down 33.7 percent at Rs 4,151.6 crore (Estimate: Rs 5,258 crore)
• Ebitda down 7.5 percent at Rs 12,298.4 crore (Estimate: Rs 12,124 crore)
• Margin at 51.9 percent versus 54.3 percent (Estimate: 50.5 percent)
• Net realisations at $58.24/barrel versus $60.3/barrel
• Other Income down 47 percent at Rs 1,402.5 crore

SAIL (Q3, YoY)

• Stock fell as much as 4.7 percent to Rs 41.85.
• Revenue up 4.5 percent at Rs 16,541.3 crore
• Net loss at Rs 429.6 crore versus net profit of Rs 616.3 crore
• Ebitda down 61.3 percent at Rs 997.6 crore
• Margin at 6 percent versus 16.3 percent

Balkrishna Industries (Q3, YoY)

• Stock rose as much as 8.2 percent to Rs 1,251.60.
• Revenue down 3.5 percent at Rs 1,155.8 crore
• Net profit up 48.2 percent at Rs 223.8 crore
• Ebitda up 13.4 percent at Rs 346.2 crore
• Margin at 30 percent versus 25.5 percent

Glenmark Pharmaceuticals (Q3, YoY)

• Stock rose as much as 3.8 percent to Rs 346.45.
• Revenue up 7.1 percent at Rs 2,735.6 crore
• Net profit up 64.1 percent at Rs 190.8 crore
• Ebitda up 1.3 percent at Rs 440.2 crore
• Margin at 16.1 percent versus 17 percent

Embassy Office Parks REIT (Q3, YoY)

• Stock fell as much as 5 percent to Rs 426.
• Revenue from operations up 14 percent at Rs 545.9 crore
• Net operating income up 16 percent at Rs 463.9 crore
• Portfolio occupancy up 220 basis points to 95.1 percent

IRB Infra (Q3, YoY)

• Stock fell as much as 4.2 percent to Rs 96.10.
• Revenue down 2.6 percent at Rs 1,742.6 crore
• Net profit down 27 percent at Rs 159.7 crore
• Ebitda down 6.2 percent at Rs 713.6 crore
• Margin at 41 percent versus 42.5 percent

Muthoot Finance (Q3, YoY)

• Stock rose as much as 7.3 percent to Rs 801.45.
• Net interest income up 43.8 percent at Rs 1702.5 crore
• Net profit up 63.7 percent at Rs 841 crore
• Gross NPA in Gold Loan Business at 1.87 percent

Sun TV Network (Q3, YoY)

• Stock fell as much as 4.9 percent to Rs 472.35.
• Revenue down 9.7 percent at Rs 847.8 crore
• Net profit up 7.2 percent at Rs 384.5 crore
• Ebitda down 12.3 percent at Rs 595.2 crore
• Margin at 70.2 percent versus 72.3 percent

Edelweiss Financial Services (Q3, YoY)

• Stock fell as much as 11.8 percent to Rs 78.10.
• Net interest income down 60.2 percent at Rs 209.6 crore
• Net profit down 92.6 percent at Rs 16.7 crore
• Impairment cost up 93 percent at Rs 220.5 crore

Finolex Cables (Q3, YoY)

• Stock fell as much as 2.7 percent to Rs 370.10.
• Revenue down 6.3 percent at Rs 702.4 crore
• Net profit up 10.1 percent at Rs 102.7 crore
• Ebitda down 8.9 percent at Rs 99.9 crore
• Margin at 14.2 percent versus 14.6 percent

Shares of MT Educare fell as much as 3.5 percent to Rs 15.

The company’s promoters plan to sell 7.71 percent stake via offer for sale. The promoters plan to sell up to 55.65 lakh shares at a floor price of Rs 14.5 per share for Rs 8.07 crore.

The floor price is at a discount of 7 percent to the closing price as on Feb. 14. Another five percent discount will be offered to retail investors at the cut off price.

The stock returned 7.7 percent in the past five days and 11 percent in the past 30 days.

Shares of Hero MotoCorp extended declines for the third consecutive trading session. The stock fell as much as 3.7 percent to Rs 2,269.55.

The company said that the ongoing issue of coronavirus in China has affected the supply of some components to the company’s manufacturing facilities in India. This is likely to impact planned production by around 10 percent for February. However, the wholesale dispatches of vehicles to the dealers during the month remain unaffected. Any further impact on production will depend on the developing situation in China.

The stock declined 13 percent in the past 12 months compared to a 15 percent gain in the Sensex.

Shares of Vodafone Idea rose as much as 23.5 percent, the most since Jan. 21, 2020, to Rs 4.20.

Telecom operators Bharti Airtel Ltd., Vodafone Idea Ltd. and Tata Teleservices are likely to make payment for adjusted gross revenue dues on Monday to avoid stringent punitive action from the Telecom Department, PTI reported quoting official sources.

“The three companies are jointly liable to pay dues of over Rs 1 lakh crore, but they have informed the Department of Telecom of making only partial payment, as per their representatives,” the report added.

Indian equities opened higher, halting their two-day losing streak.

The S&P BSE Sensex rose 0.34 percent to 41,401 and the NSE Nifty 50 rose 0.36 percent to 12,156. The broader markets represented by the NSE Nifty 500 Index rose 0.38 percent.

The market breadth was tilted in favour of buyers. About 861 stocks advanced and 622 shares declined on National Stock Exchange.

Seven out of 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty Private Bank Index’s 0.52 percent gain. On the flipside, the NSE Nifty PSU Bank Index was the top sectoral loser, down 0.6 percent.

Futures

• Nifty February futures closed at 12,129.6, premium of 16.2 points
• Nifty February futures OI down 2.4 percent, sheds 3 lakh shares in OI
• Nifty Bank Feb futures closed at 30,902.1, premium 67.3 points versus 1 point.
• Nifty Bank futures OI down 1 percent, sheds 10,000 shares in OI

Options

• Nifty PCR at 1.27 versus 1.48 (across all series)

Nifty Weekly Expiry: Feb 20

• Max OI on call side at 12,200 (24.9 lakh shares)
• Max OI on put side at 12,000 (14 lakh shares)
• OI addition seen at 12,200C (+9.6 lakh shares), 12,300C (+9.4 lakh shares)

Nifty Monthly Expiry: Feb 27

• Max OI on call side at 12,500 (27 lakh shares)
• Max OI on put side at 12,000 (36.9 lakh shares)

Stocks In F&O Ban

• Yes Bank