Market At 2-Months High, Nifty Tops 10,700; Yes Bank, Reliance Lead

IT, Pharma, Metal Stocks Push Markets to New Highs

Our Analysis

This week quite a few big names reported quarterly numbers especially Yes Bank which beat Street's expectations while Axis Bank posted its first quarterly loss ever. Midcap IT, NBFCs continued to present a good set of numbers. Stock specific buying continued in the market especially in companies which posted good earnings. Next week the focus will shift to PSU bank numbers & it will be more on NPA numbers rather than PAT. The market is expected to remain volatile with little upside.

This Weeks Market Highlights:

Benchmark Indices:

1. The benchmark indices started off on a positive note.

2. Sensex rallied nearly 200 points while Nifty crossed 10,600 but closed flat due to weakness in rupee.

3. Nifty Realty, Pharma, IT supported the market while midcap rose 100 points.

4. On Tuesday, the market surged over 150 points & Nifty closed above 10,600, backed by reliance, HDFC & ICICI bank.

5. On Wednesday, equity market closed lower as Sensex was down over 100 points while Nifty fell below 10,600, ahead of April derivative F&O contracts expiry.

6. On Thursday, equity indices closed higher as Sensex rose over 200 points while Nifty was back above 10,600, led by private bank, FMCG & IT.

7. On Friday, the market began the day on a positive note as Sensex rose 250 points even Nifty managed to clock 10,700. Baring IT all sectoral index traded in green.

Sectoral Index:

- This week broader market remained mix as midcap mostly underperformed frontliners but stock-specific buying was seen especially in the companies which presented strong numbers.

- Baring Nifty IT, backed by positive numbers from TCS, all the sectoral index either consolidated or underperformed frontliners, especially metal index which fell around 5-6% this week.

Movers & Shakers

Shares of private sector lender Yes Bank surged nearly 20% as it posted a 29% increase in fourth-quarter profit, helped by higher interest income. Net profit rose to Rs.1,179 crore in the quarter ended March 31, from Rs.914 crore a year earlier. Gross bad loans as a percentage of total loans stood at 1.28% at March-end, compared with 1.72% in the preceding quarter and 1.52% in the year-ago period. Interest income was up 32%.

Shares of PC Jewellers tanked over 25% this week as there are rumours in the market that promoters' stake in the company might have fallen by 1-2 percent. The company though has brushed aside such talk. Though the company management assured its investors, shareholders & stakeholders that growth path is strong. PCJ in a statement said that one of the promoters Padam Chand Gupta gifted some of his shares to his family member(s) through off-market transactions.

Key Market Drivers

Indian economy is expected to witness a cyclical recovery driven by investments as well as consumption, and the average GDP growth is expected to rise to 7.8% in the first half of this year, says a report. According to the Japanese financial services major Nomura, investment and consumption demand are the main drivers for India's growth, amid worsening net exports.

As the Reserve Bank has given no relaxation in its February 12 framework on the resolution of stressed assets, banks are likely to become more cautious and risk-averse to long-term funding, especially to the infrastructure sector. On February 12, the central bank had come out with a revised framework for the resolution of stressed assets. The new set of rules aimed at quick reporting of defaults, coming out with resolution plans for defaulting companies and time-bound referrals of defaulting firms to the National Company Law Tribunal (NCLT).

Event Watch

Indias Infrastructure output will be presented on April 30th, 2018. The infrastructure sector accounts for 26.68% of India's industrial output.

Q4 Earnings - Idea, Kotak Mahindra Bank, Hero Motocorp, HCL Tech, HDFC, DHFL, Dabur, Marico, Ajanta Pharma, Tata Power, Shree Cement, Ceat, MRF, Vedanta, Adani Ports.

Global - GBP & US will present manufacturing PMI (April) on May 1st, 2018.

US Fed Interest Rate Decision will be on May 2nd, 2018.

Stocks To Watch

DHFL is on the upside while Rallis India is on the downside.

Share Market News 26-April-2018

Market Surged On The Expiry Day; Nifty Above 10,600

The Benchmark indices opened flat on Thursday as Sensex was up 40 points & Nifty up 5 points, amid consolidation. The equity market continued to trade mildly higher as Sensex was 70 points while Nifty traded above 10,550 levels, ahead of F&O expiry. Reliance, TCS, Tata Motors, HDFC bank & realty stocks supported the market while OMCs, Wipro, Axis Bank & ICICI bank capped gains. Nifty midcap also traded flat.

In the afternoon session, the equity benchmark continued to trade mildly higher as Sensex was up 50 points while Nifty inched towards 10,600, ahead of April F&O contracts expiry. Reliance, TCS, HDFC Bank & Infosys continued to support the market while oil & gas, PSU banks, Axis bank copped gains. Midcap traded mildly higher.

In the last hour of the trade, the market extended gains as Sensex rose over 200 points while Nifty was above 10,600. The market ended on a strong note. Nifty Pvt. bank, FMCG, IT led the rally while PSU bank, Realty & OMC traded lower. Nifty midcap was up 74 points. Sensex closed 212.33 points up at 34,713.60, Nifty up by 47.25 points at 10,617.80.

Top Gainers

Yes bank by 10.12% to Rs.358.15, IndusInd Bank by 2.02% to Rs.1,885, HUL by 1.98% to Rs.1,488.15, ITC by 1.70% to Rs.278.75, Eicher Motors by 1.55% to Rs.31,225.

Top Losers

Bharti Airtel by -3.08% to Rs.406.90, Lupin by -2.66% to Rs.793.00, Infratel by -2.50% to Rs.317.30, Wipro by -2.39% to Rs.280.30, SBIN by -1.67% to Rs.233.25.

Analysis Of Top Gainer And Loser

Yes Bank is the top gainer in today's market as bank's Q4 earnings beat analyst estimates, with profit growing 29% YoY on healthy growth in NII, which increased by 31.4%. Asset quality strengthened as net NPA of total advances stood at 0.64% versus 0.93% (QoQ).

Bharti Airtel is the top loser in today's market as the company will consider selling the stake in the combined company that will emerge after merger on Indus towers into Bharti Infratel.

Key Market News

According to the International Monetary Fund (IMF), the impact of higher oil prices on Indias gross domestic product may not be all that much this year and the next. Indias terms-of-trade loss as a percent of GDP over 2018-2019 at 0.18%, much lower than the 1.5% loss seen in 2017. The loss, of course, is due to a rise in oil prices. Conversely, when oil prices fell in 2015 and 2016, India had large windfall gains of around 4% of GDP. IMF estimates dated Brent crude oil price to average $64.6 a barrel for 2018, up 19% over 2017.

The European Central Bank is set to keep policy unchanged. Playing down worries over recent softness in the eurozone economy and leaving the door open to ending its lavish bond purchase scheme by the close of the year. Having tweaked its guidance last month to reflect solid growth, the ECB will probably argue that the economy is humming along and that the exceptional readings seen around the turn of the year were always unlikely to be sustained, economists said.

Stocks To Watch

Yes Bank Ltd. is on the upside while is DCM Shriram Ltd. on the downside.

Yes Bank is currently trading at Rs.358.15, up by Rs.32.90 or 10.12% from its previous closing of Rs.325.25 on the NSE. The scrip opened at Rs.327.95 & has touched a high & low of Rs.360.25 and Rs.323.60 respectively. So far 6,23,64,794 (NSE) shares were traded on the counter. The current market cap of the company is Rs.81,075.96 Crore. The NSE/BSE group stock has touched a 52 week high of Rs.382.90 on 21-September-2017 & a 52 week low of Rs.275.25 on 23-May-2017.

DCM Shriram is currently trading at Rs.328.75, down by Rs.40.65 or 11% from its previous closing of Rs.369.40 on the NSE. The scrip opened at Rs.370 & has touched a high and low of Rs.373.95 & Rs.302 respectively. So far 19,11,608 (NSE) shares were traded on the counter. The current market cap of the company is Rs.5,424.21 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.628 on 19-December-2017 and a 52 week low of Rs.302 on 26-April-2018.

Share Market News 25-April-2018

2-Days Gains Come To A Halt Ahead Of F&O Expiry; Nifty Below 10,600

The Benchmark indices opened lower with Sensex was down 50 points & Nifty below 10,600, tracked the negative trend in global stocks. The equity market continued to trade mildly lower as Sensex was down nearly 100 points while Nifty traded below 10,600, amid consolidation. Banking & finance, oil, metals & infra stocks remained under pressure while among sectoral indices IT index rose over 1% ahead of Wipro earnings. Nifty midcap also traded lower.

In the afternoon session, equity benchmark extended losses as Sensex was down over 180 points while Nifty fell below 10,550 levels ahead of April derivative expiry. The index got dragged by banking & finance, metals, infra & FMCG stocks while IT & Realty index outperformed. Nifty midcap fell over half a percent.

In the last hour of trade, the market trimmed losses as Sensex was down over 100 points while Nifty traded below 10,600. The market closed lower ahead of the expiry of April derivative contracts. Baring IT (up 1.15%) & Realty all sectoral index traded in red led by banking & finance, metal, Pharma. Nifty midcap fell 81 points. Sensex closed 115.37 points down at 34,501.27, Nifty down by 43.80 points at 10,570.55.

Top Gainers

Bharti Airtel by 2.90% to Rs.418.05, TCS by 2.37% to Rs.3,466, M&M by 1.72% to Rs.853.00, Power Grid by 1.36% to Rs.209.25, HCL Tech by 1.68% to Rs.1,070.

Top Gainers

GAIL by -3.09% to Rs.327.30, VEDL by -2.99% to Rs.288.50, HindPetro by -2.86% to Rs.297.25, Hindalco by -2.32% to Rs.231.25, Grasim by -1.81% to Rs.1,060.85.

Analysis Of Top Gainer And Loser

Bharti Airtel is the top gainer in today's market as the company posted a surprise profit led by improvement in its Africa business and a deferred tax credit of Rs.464 crore. However, net profit fell 73% to Rs.83 crore in the quarter ended March.

GAIL is the top loser in today's market as selling pressure was seen in the stock.

Key Market News

Indian economy is expected to witness a cyclical recovery driven by investments as well as consumption, and the average GDP growth is expected to rise to 7.8% in the first half of this year, says a report. According to the Japanese financial services major Nomura, investment and consumption demand are the main drivers for India's growth, amid worsening net exports.

In other news, the Government of India has inked a loan agreement of USD 125 million with World Banks investment arm to fund Innovate in India project. The loan agreement was signed yesterday between Sameer Kumar Khare, joint secretary, Ministry of Finance and Hisham Abdo, Acting Country Director, World Bank (India), an official statement said today. The objective of the project is to nurture indigenous innovation, foster local product development and accelerate commercialisation process, the report said.

Stocks To Watch

NIIT Technology Ltd. is on the upside while is PC Jeweller Ltd. on the downside.

NIIT Tech is currently trading at Rs.1,095, up by Rs.98.90 or 9.92% from its previous closing of Rs.996.20 on the NSE. The scrip opened at Rs.990.00 & has touched a high & low of Rs.1,102 and Rs.988.00 respectively. So far 70,03,708 (NSE) shares were traded on the counter. The current market cap of the company is Rs.6,642.79 Crore. The NSE/BSE group stock has touched a 52 week high of Rs.1,102 on 25-April-2018 & a 52 week low of Rs.420.45 on 24-April-2017.

PC Jeweller is currently trading at Rs.243.00, down by Rs.46.35 or 16.02% from its previous closing of Rs.289.35 on the NSE. The scrip opened at Rs.288.00 & has touched a high and low of Rs.290.55 & Rs.238.10 respectively. So far 2,33,95,072 (NSE) shares were traded on the counter. The current market cap of the company is Rs.9,632.13 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.600.65 on 16-January-2018 and a 52 week low of Rs.208.00 on 25-May-2017.

Share Market News 24-April-2018

Reliance Lifts Market To 2 Month's High; Nifty Above 10,600

The Benchmark indices opened higher with Sensex rose over 100 points & Nifty near 10,600, followed a positive lead from Asian stocks. The equity market held morning gains as Sensex was up 100 points while Nifty hovered around 10,600 levels, backed by banking & finance, FMCG and oil stocks while metal & technology stocks were under pressure. Nifty midcap was mildly higher.

In the afternoon session, equity benchmark regained strength as Sensex was up 160 points while Nifty traded above 10,600 level, backed by Index heavyweights Reliance, HDFC & ICICI Bank while metal & technology stocks continued to reel under selling pressure. Nifty midcap also turned lower.

In the last hour of trade, the market continued to trade higher as Sensex was up nearly 200 points while Nifty above 10,600. The market closed higher thanks to the positive trend in Asian stocks. Reliance, HDFC, ICICI Bank led the market while IT, Metal, Media & PSU bank index fell over 1%. Nifty midcap also traded lower. Sensex closed 165.87 points up at 34,616.64, Nifty up by 29.65 points at 10,614.35.

Top Gainers

Reliance by 3.64% to Rs.970.05, Yes Bank by 3.50% to Rs.342.00, Bajaj Finserv by 2.52% to Rs.5,427.65, M&M by 1.73% to Rs.838.55, ICICI Bank by 1.68% to Rs.284.10.

Top Losers

Hindalco by -7.37% to Rs.236.75, Wipro by -3.50% to Rs.286.95, INFY by -2.80% to Rs.1,154.50, TECHM by -1.39% to Rs.682.70, VEDL by -1.33% to Rs.297.40.

Analysis Of Top Gainer And Loser

Reliance Industries is the top gainer in today's market as Reliance Jio, the subsidiary of Reliance Industries has added 87.4 lakh subscribers in February compared to 83 lakh in the previous month.

Hindalco is the top loser in today's market as Aluminium prices continued to fall after the US government gave US customers of Russian producer United Company Rusal more time to close out their business with the company and comply with sanctions.

Key Market News

Construction of national highways has increased to record levels and the momentum is expected to continue in this financial year, too, as funding is not an issue and the pace of land acquisition has improved, says a report. According to BofA Merrill Lynch (BofAML), 2018-19 is likely to be another robust year for the highway sector, even as some disruption is likely in the fourth quarter of this fiscal owing to 2019 general elections. Ordering and construction of national highways have increased to the all-time high of 17,055kms/9,829kms, respectively in FY18.

The Trump administration is planning to end allowing spouses of H-1B visa holders to work legally in the U.S., a top federal agency official has told lawmakers, a move that could have a devastating impact on tens of thousands of Indians.

For the first time, the U.S. Treasury discussed a path for lifting the sanctions on Rusal, saying it would provide relief if Oleg Deripaska relinquished control. It also extended the deadline for companies to wind down dealings with the Russian aluminium producer by almost five months.

Stocks To Watch

Indiabulls Venture Ltd. is on the upside while is Coromandel International Ltd. on the downside.

Indiabulls Venture is currently trading at Rs.429.65, up by Rs.39.05 or 10% from its previous closing of Rs.390.60 on the NSE. The scrip opened at Rs.386.95 & has touched a high & low of Rs.429.65 and Rs.383.15 respectively. So far 83,70,502 (NSE) shares were traded on the counter. The current market cap of the company is Rs.18,965.30 Crore. The NSE/BSE group stock has touched a 52 week high of Rs.429.65 on 24-April-2018 & a 52 week low of Rs.102.30 on 03-May-2017.

Coromandel is currently trading at Rs.470.45, down by Rs.58.50 or 11.06% from its previous closing of Rs.528.95 on the NSE. The scrip opened at Rs.533.30 & has touched a high and low of Rs.536.00 & Rs.458.55 respectively. So far 24,29,573 (NSE) shares were traded on the counter. The current market cap of the company is Rs.13,771.26 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.586.75 on 01-January-2018 and a 52 week low of Rs.345.05 on 28-April-2017.

Share Market News 23-April-2018

Market Closed Flat As Nifty Below 10,600; TCS Stole The Show

The Benchmark indices opened lower on Monday as it opened 50 points down while Nifty fell 9 points, amid Global weakness. The equity market gained strength as Sensex rose over 100 points while Nifty reclaimed 10,600 levels. Information Technology was the leading sector as Nifty IT rallied over 1.5% followed by Realty, Pharma while FMCG & Metal remained under pressure. Nifty midcap outperformed frontliners, was up over half a percent.

In the afternoon session, equity benchmark extended gains as Sensex surged nearly 200 points while Nifty was well above 10,600 levels, backed by Technology stocks. Nifty IT index further rallied by 2.5% followed by Realty, Pharma while FMCG & Metal were in red. Nifty midcap was up nearly 1%.

In the last hour of trade, the market was off days high due to depreciation in rupee as Sensex was up nearly 100 points while Nifty was above 10,600. The market ended flat due to more weakness in rupee & weak global cues. Nifty Realty, Pharma, IT supported the market while FMCG, Metal & Financial Services remained under pressure. Nifty midcap index was up by 100 points. Sensex closed 35.19 points up at 34,450.77, Nifty up by 20.65 points at 10,584.70.

Top Gainers

IndusInd bank by 3.74% to Rs.1,880.60, M&M by 2.95% to Rs.823.05, BPCL by 2.65% to Rs.381.25, Cipla by 2.03% to Rs.601.00, Sun Pharma by 1.98% to Rs.515.30.

Top Losers

Hindalco by -2.71% to Rs.255.00, IBULHSGFIN by -2.51% to Rs.1,322, UPL by -1.80% to Rs.752.00, VEDL by -1.39% to Rs.304.30, Grasim by -1.33% to Rs.1,086.15.

Analysis Of Top Gainer And Loser

IndusInd Bank is the top gainer in today's market as private sector lender reported 27% YoY growth in net profit to Rs.959.09 crore for the January-March period of FY17-18.

Hindalco is the top loser in today's market as some profit booking was seen in the stock.

Key Market News

Tata Consultancy Services Ltd (TCS), Indias largest information technology (IT) services firm, become the first Indian company to cross the $100 billion market capitalisation milestone. The recent surge in TCS shares was triggered by better than expected earnings reported on Thursday after 13 quarters of under-performance. TCS announced a bonus of 1:1 and recommended a final dividend of Rs.29 a share also improved sentiment.

As the Reserve Bank has given no relaxation to its February 12 framework on the resolution of stressed assets, banks are likely to become more cautious and risk-averse to long-term funding, especially to the infrastructure sector. On February 12, the central bank had come out with a revised framework for the resolution of stressed assets. The new set of rules aim at quick reporting of defaults, coming out with resolution plans for defaulting companies and time-bound referrals of defaulting firms to the National Company Law Tribunal (NCLT).

Stocks To Watch

Oberoi Realty Ltd. is on the upside while is Vakrangee Ltd. on the downside.

Oberoi Realty is currently trading at Rs.590.45, up by Rs.69.20 or 13.28% from its previous closing of Rs.521.25 on the NSE. The scrip opened at Rs.525.90 & has touched a high & low of Rs.592.00 and Rs.525.90 respectively. So far 23,14,914 (NSE) shares were traded on the counter. The current market cap of the company is Rs.19,673.16 Crore. The NSE/BSE group stock has touched a 52 week high of Rs.592.00 on 23-April-2018 & a 52 week low of Rs.335.30 on 28-June-2017.

Vakrangee is currently trading at Rs.129.05, down by Rs.6.75 or 4.97% from its previous closing of Rs.135.80 on the NSE. The scrip opened at Rs.138.00 & has touched a high and low of Rs.138.80 & Rs.113.90 respectively. So far 60,96,305 (NSE) shares were traded on the counter. The current market cap of the company is Rs.13,658.56 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.515.00 on 24-January-2018 and a 52 week low of Rs.113.90 on 18-April-2018.

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ABOUT AUTHOR

Niveza Editorial Desk : We are a team of stock market nerds trying to stay ahead of the herd. We spend our grey cells everyday to a pave a smooth road for our clients in the shaky world of stock market. While tracking the mood swings of the market we bring our clients the most rewarding deals.

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