Sensex, Nifty Log Worst Weekly Losses In Two Months

Indian equity benchmarks clocked their worst weekly losses since May 12.

The S&P BSE Sensex closed 1.9 percent lower this week at 38,736 and the NSE Nifty 50 closed at 11,552, down 2.2 percent. The broader market index represented by the NSE Nifty 500 Index closed 2.1 percent lower during the period.

Today, the 31-share index and the 50-stock gauge closed 0.22 percent lower and 0.26 percent lower respectively. The 500-share index closed 0.1 percent lower.

The market breadth was tilted in favour of buyers. About 883 stocks advanced and 847 shares declined on National Stock Exchange.

GNA Axles

• Stock rose as much as 19.9 percent to Rs 283.10.
• Street cheers strong Q1; revenue up 21 percent.

Balrampur Chini Mills

• Stock rose as much as 8.6 percent to Rs 160.70.
• Ethanol bikes may get taxi license.

Ambuja Cements

• Stock rose as much as 2.2 percent to Rs 216.25.
• BofA Securities upgraded the stock to ‘Buy’ and price target was set at Rs 261

Hathway Cables & Datacom

• Stock rose as much as 9.2 percent to Rs 25.
• Gains ahead of March quarter results.

Indian equity benchmarks are headed for their worst weekly loses in two months.

The S&P BSE Sensex fell 1.9 percent so far this week and the NSE Nifty 50 fell over 2 percent during the period.

Today, The 31-share index and the 50-stock index fluctuated between gains and losses to trade 0.3 percent lower at 38,720 and 11,546 respectively.

The market breadth was tilted in favour of buyers. About 895 stocks advanced and 816 shares declined on National Stock Exchange.

Shares of IndusInd Bank fluctuated between gains and losses to trade little changed at Rs 1,538 after the lender announced its quarterly results for the three months ended June.

Key Earnings Highlights (Q1)

• Net interest income at Rs 2,844 crore.
• Net profit at Rs 1,432 crore.
• GNPA at 2.15 percent.
• NNPA at 1.23 percent.

The results are not comparable due to the bank’s merger with Bharat Financial Inclusion.

Indian equity benchmarks were trading at day’s high.

The S&P BSE Sensex rose as much as 199 point or 0.5 percent to 39,021.84 and the NSE Nifty 50 rose as much as 0.49 percent to 11,639.55. The broader market index represented by the NSE Nifty 500 Index rose as much as 0.56 percent.

The market breadth was tilted in favour of buyers. About 976 stocks advanced and 694 shares declined on National Stock Exchange.

About 16 lakh shares of Torrent Power changed hands in a block deal, Bloomberg data showed. Buyers and sellers were not known immediately.

Public sector banks should be cautious about chasing growth even as balance sheets are improving, according to State Bank of India Chairman Rajnish Kumar.

Most public sector banks took the last one year to repair their books and may take two quarters of 2019-20, Kumar told BloombergQuint in an interview.

Read the full story and watch the full interaction here.

Shares of the oil marketing companies declined after the Brent crude rose 0.7 percent to $66.99 a barrel. The Asian crude benchmarks rose 0.86 percent intraday.

Indian equity benchmarks were fluctuating between gain and losses to trade little changed.

The S&P BSE Sensex and the NSE Nifty 50 traded flat at 38,822 and 11,582 respectively as of 12:10 a.m.

Seven out of 11 sectoral gauges compiled by NSE advanced, led by the NSE Nifty Realty Index 1.04 percent gain. On the flipside, the NSE Nifty Bank Index was the top sectoral loser, down 0.33 percent.

Shares of Den Networks rose as much as 11.2 percent, the most since July 11, to Rs 69.95, their highest level in nearly three months. The company announced its quarterly results for the three months ended June.

Key Earnings Highlights (Q1, YoY)

• Revenue flat at Rs 313 crore.
• Net profit at Rs 11 crore versus net loss of Rs 31 crore.
• Ebitda down 11 percent at Rs 42 crore.
• Margin narrows to 13.4 percent from 15 percent.
• Other income of Rs 51 crore

Shares of Cox & Kings hit their lower circuit of 5 percent for the thirteenth consecutive trading session. The stock is currently trading at a record low of Rs 22.20.

CARE Ratings downgraded the company’s long-term debt facilities to CARE D, according to its exchange filing. CARE revised the company’s rating due to delay in servicing of debt obligations.

The stock has declined 89 percent in the past 12 months compared with a 6.5 percent gain in the Sensex, Bloomberg data showed.

Eight out of 11 sectoral gauges compiled by NSE traded lower, led by the NSE Nifty Bank Index’s 0.4 percent decline. On the flipside, the NSE Nifty Metal Index was the top sectoral gainer, up 0.79 percent.

Indian equity benchmarks were trading subdued after a muted U.S. session.

The S&P BSE Sensex and the NSE Nifty 50 traded little changed at 38,807 and 11,575 as of 11 a.m. The broader market index represented by the NSE Nifty 500 Index traded flat.

The market breadth was tilted in favour of buyers. About 819 stocks advanced and 791 shares declined on National Stock Exchange.

Stocks in Asia traded mixed Friday as trade-tensions resurfaced. Treasuries held losses seen after a U.S. inflation reading that came in above expectations.

• Futures on the S&P 500 Index rose 0.2 percent.
• Japan’s Topix index fell 0.2 percent.
• Hong Kong’s Hang Seng rose 0.5 percent.
• South Korea’s Kospi index rose 0.2 percent.
• Shanghai Composite Index gained 0.5 percent.
• Australia’s S&P/ASX 200 Index fell 0.2 percent.

Catch all the updates on Global markets here.
Source: Bloomberg

Shares of Quess Corp rose as much as 9.1 percent, the most in nearly six months, to Rs 479.90.

The company plans to issue 7.54 lakh shares to Amazon.com NV Investment Holdings LLC for about Rs 50.99 crore, according to its stock exchange filing.

Trading volume as almost three times its 20-day average, Bloomberg data showed. The stock has extended gains for the fifth consecutive trading session, its longest gaining streak in four months.

Nifty’s 11,600 call option contract was among the most active Nifty option contracts on National Stock Exchange.

Premium on the weekly contract which is set to expire on July 18 fell 25.54 percent to Rs 43.30. Over 8.37 lakh shares were added to the open interest which stood at over 18.86 lakh shares.

Indian equity benchmarks traded lower after erasing opening gains.

The S&P BSE Sensex fell nearly 60 points to 38,765 as of 10 a.m. and the NSE Nifty 50 fell 0.2 percent to 11,560. The broader market index represented by the NSE Nifty 500 Index fell 0.1 percent.

KPR Mill was in focus in today’s trade as the stock fell over 6 percent after becoming the first company to cancel its buyback proposal since the introduction of the increased buyback tax proposal in the budget session last week.

Shares of the lead manufacturer rose for the third consecutive trading session and rose as much as 2.3 percent to Rs 58.50.

Gravita India started commercial production of aluminum cast alloys from its new plant in Tanzania, Africa, according to an exchange filing. The facility has a total capacity of 6,000 MTPA and expects to generate Rs 20 crore in revenue along with gross margin of 15 percent from this plant in fiscal 2020, the filing said.

The stock declined 62 percent in the past 12 months compared with a 6.5 percent gain in the Sensex.

Shares of the apparel maker fell as much as 6.2 percent to Rs 571.30, the lowest in three months.

The company, in an exchange filing, said it will be unable to file a ‘Letter of Offer’ and go forward with the buyback proposal. This increase in the amount of buyback obligation was “neither contemplated nor prevailing” at the time of consideration and the approvals of the board and shareholders, the company said.

KPR Mill has become the first company to cancel its buyback proposal since the introduction of the increased buyback tax proposal in the budget session last week. In June, the company had announced its proposal to buyback up to 37.50 lakh fully paid-up equity shares of Rs 51 each at a price of Rs 702 per share. The offer size was worth Rs 263.3 crore.

The trading volume was over 30 times the 20-day average for this time of the day, according to Bloomberg data.

Shares of Metropolis Healthcare extended gains for the third consecutive trading session.

The stock rose as much as 2.6 percent to hit an all-time high at Rs 1,037. The scrip rose 17.9 percent, the most since its listing on April 12.

The stock has breached the Bloomberg analyst consensus one-year price target of Rs 1,031.50.

Shares of Infosys rose nearly 1 percent intraday to Rs 727.35 ahead of its quarterly results announcement.

Here are the consensus estimates of analysts tracked by Bloomberg for June quarter results:

• $revenue seen 2.5 percent at $3137 million.
• Income from operations seen 1.3 percent higher at Rs 21,817 crore.
• EBIT seen 3.4 percent lower at Rs 4463 crore.
• EBIT margin seen at 20.5 percent versus 21.4 percent.
• Net profit seen 8.4 percent higher at Rs 3,737 crore.

Indian equity benchmarks opened higher in today’s trade.

The S&P BSE Sensex rose as much as 118 points or 0.3 percent to 38,941.10 and the NSE Nifty 50 rose as much as 0.2 percent to reclaim 11,600. The broader market index represented by the NSE Nifty 500 Index rose as much as 0.5 percent.

The market breadth was tilted in favour of buyers. About 734 stocks advanced and 662 shares dclind on National Stock Exchange.

Seven out of 11 sectoral gauges compiled by National Stock Exchange traded lower, led by the NSE Nifty Metal Index’s 0.56 percent decline. On the flipside, the NSE Nifty Media Index was the top sectoral gainer, up 0.39 percent.

The Indian rupee opened lower against the U.S. dollar, the home currency depreciated as much as 0.07 percent to 68.49 against the greenback.

Indian equity benchmarks are set to open on a positive note.

The S&P BSE Sensex rose over 100 points or 0.23 percent to 38,900 during the pre-maket trade and the NSE Nifty 50 rose 0.16 percent to 11,603.

In the currency market, the Indian rupee opened lower against the U.S. dollar, the home currency depreciated as much as 0.07 percent to 68.49 against the greenback.

July Futures

• Nifty futures closed at 11,582, discount of 0.8 points versus 6.6 points.
• Nifty futures open interest down 5.5 percent, sheds 10 lakh shares in open interest.
• Bank Nifty futures closed at 30,717.
• Bank Nifty futures open interest down 3 percent, sheds 53,000 shares in open interest.

Options

• Nifty PCR at 1.24 versus 0.84(across all series).

Nifty Weekly Expiry 18-July

• Max open interest on call side at 11,700 (10.9 lakh shares).
• Max open interest on put side at 11,500 (11.6 lakh shares).
• Open interest addition seen in 11,500P (+8 lakh shares), 11,700C (+5 lakh shares).

Nifty Monthly Expiry 25-July

• Max open interest on call side at 12,000 (32.3 lakh shares).
• Max open interest on put side at 11,300 (21.4 lakh shares).

Stocks In F&O Ban

• DHFL
• IDBI Bank
• Reliance Capital
• Reliance Infra

Nifty Earnings To Watch

• Infosys
• IndusInd Bank

Other Earnings To Watch

• Karnataka Bank
• Hathway Cable & Datacom
• 3i Infotech
• TRF

Earnings Reaction To Watch

Den Networks (Q1, YoY)

• Revenue flat at Rs 313 crore.
• Net profit at Rs 11 crore versus net loss of Rs 31 crore.
• Ebitda down 11 percent at Rs 42 crore.
• Margin narrows to 13.4 percent from 15 percent.
• Other income of Rs 51 crore

• CARE Ratings downgraded Cox & King’s long-term debt facilities to CARE D. Instruments with this rating are in default or are expected to be in default soon.
• KPR Mill becomes the first company to cancel its buyback plan after Budget 2019 imposed a tax on repurchase of shares. (more details here)
• Himachal Futuristic won Rs 199 crore order from BEL for supply of Optical Fibre Cables.
• Gravita India started commercial production of aluminum cast alloys from its new plant in Tanzania, Africa. The facility has a total capacity of 6,000 MTPA and expects to generate Rs 20 crore in revenue along with gross margin of 15 percent from this plant in fiscal 2020.
• Salzer Electronics completed acquisition of 72.32 percent stake in Kaycee Industries.
• KSK Energy Ventures said NCLT admits insolvency resolution plea filed by Axis Bank for subsidiary Sai Lilagar Power Generation Ltd.
• Videocon will publish fourth quarter and full year fiscal 2019 results by July 20, 2019.
• Unitech will publish fourth quarter and full year fiscal 2019 results by July 12, 2019.

• 5:30 p.m.: India June Consumer Price inflation YoY; estimate 3.13 percent (prior 3.05 percent)
• 5:30 p.m.: India May Industrial Production YoY; estimate 2.85 percent (prior 3.4 percent)

• West Texas Intermediate crude added 0.5 percent to $60.49 a barrel.
• Gold was at $1,408.08 an ounce, up 0.3 percent.

London Metal Exchange

• Copper ended higher for the second consecutive trading session, closed 0.25 percent higher.
• Lead ended higher for the fourth consecutive trading session.
• Tin halted a two-day fall, closed 0.82 percent higher.
• Zinc ended higher for the fourth consecutive trading session, closed 1.12 percent higher.
• Aluminium ended a three-day gaining streak, closed 1.19 percent lower.
• Nickel ended higher for the second consecutive trading session, ended 1.08 percent higher.

Good Morning!

The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, fell 0.1 percent to 11,572 as of 8 a.m.

Stocks in Asia traded mixed Friday as trade-tensions resurfaced.

Shares edged lower in Australia and Japan, were little changed in Hong Kong and China, and ticked higher in South Korea. Futures on the S&P 500 saw a modest rise.

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