RBI Surprised With Rate Cut Inflation Lowered

weekly share market news and updates

Our Analysis

The Indian Benchmark Indices, After commencing the week on a flat to positive note gradually gathered pace and marked four-month high ahead of RBI policy meet. Volatility was seen in the initial part, however, once the RBI announced a rate cut of 25 bps, the market gained the momentum but in the end, profit booking was seen, but it continued its winning streak as it extended its upward march to the sixth straight session. The rate cut provided the much-needed relief to the interest-sensitive sector like housing and auto.

The Benchmark indices have hit four-month highs, but the reality is that the rally is not broad-based. In the past few weeks, the divergence in the performance of the benchmark indices and the broader market has been a matter of serious attention. We believe the broader markets may soon catch up with the benchmark indices, but it is important for investors to focus on fundamentally sound companies with strong financial and health prospects. Market Participant would keep an eye on the remaining quarterly earning and macro data.

This Weeks Market Highlights:

Benchmark Indices:

1) On Monday, Indian equity Benchmark indices had ended on a positive note with Nifty closed above 10,900 level. The Sensex was up 113.31 points at 36582.74, while Nifty was up 18.60 points at 10912.30.

2) Among sectors, infrastructure, auto, metal, FMCG, and pharma witnessed selling pressure, while some buying was visible in bank, energy and IT stocks.

3)On Tuesday, Indian equity Benchmark indices have ended the session on a flat note, the Sensex was up 34.07 points or 0.09% at 36616.81, and the Nifty up 22.10 points or 0.20% at 10934.40.

4)On Wednesday, Indian equity Benchmark indices ended higher for the fifth day in a row, The Sensex was up 358.42 points at 36975.23, while Nifty was up 128.10 points at 11,062.50. All the sector ended in green led by metal and IT with 2 percent gain, followed by auto, energy, FMCG, and Pharma.

5) On Thursday, Indian Monetary Policy Committee Cuts Rate By 25 Basis Points to 6.25 percent. Indian equity Benchmark indices ended flat, The Sensex was down 4.14 points at 36971.09, while Nifty was up 6.90 points at 11069.40.

6) Among the sectors, auto, FMCG, IT and pharma index were in green, while energy and infra index remains weak. In the broader Market, the NSE MidCap Index was up by 0.74 percent and the NSE Small Cap Index grew by 0.71 percent.

7) On Friday, Indian equity benchmarks opened lower

Broader Index & Global Market:

- On the global front, The week started as major indexes closing near session highs as sustained optimism on the prospects for US-China trade relations propelled technology shares. on Wednesday as videogame makers gave disappointing revenue forecasts and investors awaited developments on US-China trade relations result in fall in the US market.

- Asian stocks fall as investors fretted about a broadening global economic slowdown, with sentiment not helped by the absence of any positive signs for a resolution in the US-China trade row

Movers & Shakers

Shares of the Reliance Infra plunged more than 50 percent in a week after Reliance Communications (RCom) last week had said that it would file for bankruptcy as it had been unable to sell assets to repay the debt over the past year and a half. It had informed the exchanges on Sunday that it planned to propose a similar debt resolution plan in the tribunal as was being earlier pursued with creditors. The board meeting led to the conclusion that despite the passage of over 18 months, lenders received zero proceeds from the proposed asset monetization plans, and the overall debt resolution process was yet to make any headway.

Key Market Drivers

  • Manufacturing PMI in India increased to 53.9 in January from 53.2 in December of 2018.
  • Economic Affairs Secretary S C Garg on February 1 said the government is expecting Rs 28,000 crore from the Reserve Bank as an interim dividend in the current fiscal. The government has already received Rs 40,000 crore from the Reserve Bank of India during 2018-19.
  • Oct-January sugar output stood at 18.5 million tonnes against 17.1 million tonnes last year, According to data released by ISMA
  • The Securities and Exchange Board of India (SEBI) have almost finalized the mechanism for tap issue of bonds through a shelf offer document and this can implement it from FY20. Under tap issue, companies could be allowed to file shelf prospectus on the same lines as private placements, once a year and raise money when required without going through the process of seeking approval from regulatory authorities.
  • The fiscal deficit has touched 112.4 percent of the full-year budget target of Rs 6.24 lakh crore at the end of December on account of lower revenue collections, government data showed on February 4.
  • Bill Gross, who reigned for decades as the Bond King at Pacific Investment Management, is retiring more than four years after jumping to Janus Henderson Group from the fixed-income giant he co-founded.
  • Nikkei India Services Purchasing Managers' Index stood at 52.2 in January from 53.2
  • Capital markets regulator Sebi asks exchanges to step up intra-day surveillance; stocks with negative news flow under the scanner. Pradeep Singh Kharola named as Civil Aviation Secretary.
  • The Union Cabinet is likely to discuss a proposal on Wednesday for providing an additional Rs 6000-crore soft loan to sugar mills to increase their ethanol production capacities under an incentive scheme. The proposal may include non-molasses-based distilleries.
  • NSE has added Religare Enterprises, Vipul and Binani industries to the list of stocks under short-term additional surveillance measure (ASM) framework. Automotive Stampings and Assemblies and MVL have been taken out of the list.
  • Indias Monetary Policy Committee Cuts Rate By 25 Basis Points to 6.25 percent. India Reverse REPO Rate at 6.00%
  • The Reserve Bank of India has relaxed regulations on the bank exposures to NBFCs in order to facilitate the flow of credit to well-rated firms, according to its statement. Risk-weights of bank exposure to NBFCs will now be in-line with the ratings assigned by credit rating agencies. This will not be applicable to NBFC-Core Investment Companies, risk-weight exposures to CICs will remain at 100 percent.
  • Indias central has bank proposed rationalization of Interest Rate Derivative so as to encourage better management of interest rate risks, it said in a statement.
  • The Union Cabinet on Wednesday approved proposals to amend the Banning of Unregulated Deposit Schemes Bill, 2018. This will further strengthen the Bill in its objective to effectively tackle the menace of illicit deposit-taking activities, and prevent such schemes from duping the poor, Law Minister Ravi Shankar Prasad said.
  • US President Donald Trump said on Thursday he did not plan to meet with Chinese President Xi Jinping before a March 1 deadline set by the two countries to achieve a trade deal.

Event Watch

  • Car sales data for the month of January
  • India Manufacturing Output MoM
  • India Industrial Production YoY
  • India Consumer Price Index (CPI) YoY
  • U.K. Manufacturing Production MoM
  • U.K. Gross Domestic Product (GDP)MoM
  • US - China trade talk

Stocks To Watch

TECHM & TITAN is on the upside while BEML is on the downside.

Share Market News 07-February-2019


RBI rate cut fails to cheer D-Street; Sensex, Nifty end flat.

Indian Equity Benchmark indices started on the Flat note ahead of RBI policy announcement later in the day. The Reserve Bank of India is been likely to change its monetary policy stance to "neutral" from "calibrated tightening", in the first meet under the leadership of Shaktikanta Das, who was appointed last December. the Sensex is up 51.30 points at 37026.53, while Nifty is up 12.70 points at 11075.20.Among sector compiled by NSE advanced, led by the Nifty Pharma 1.3 percent rally. While, the Nifty Realty was the top sectoral loser, down 0.27 percent. 180 companies to report Q3 numbers today

In the afternoon session, Indian markets were trading higher The Sensex grew 106.45 points or 0.29% at 37081.68, and the Nifty up by 28.30 points or 0.26% at 11090.75 Among sector. except for energy, all sector indices were trading in green led by Auto, Pharma. In a Broder Market, the NSE mid-cap & Small-Cao was underperforming the major indices, NSE mid-cap was down by 0.34% and smallcap indices were trading lower by 0.36%, respectively.

In the last hour of trade, Indian equity benchmarks were trading at days high with Nifty around 11100 level. Indias Monetary Policy Committee Cuts Rate By 25 Basis Points to 6.25 percent. Indian equity Benchmark indices ended flat, The Sensex was down 4.14 points at 36971.09, while Nifty was up 6.90 points at 11069.40. Among the sectors, auto, FMCG, IT and pharma index were in green, while energy and infra index remains weak. In the broader Market, the NSE MidCap Index was up by 0.74 percent and the NSE SmallCap Index grew by 0.71 percent. The 25 bps cut in policy rates is a welcome move and in line with industry expectations as well as with central banks in advanced economies. Resulting lower cost of funds would help the NBFC sector to recover faster and its positive effects would trickle down to the larger sections of the economy namely real estate and MSMEs. NBFCs would also benefit from RBIs decision to link bank risk weights on NBFC exposures to the rating of such instruments.

Top Gainers

ZEEL by 4.56% to Rs 405.70. , SUNPHARMA by 4.13% to Rs 433.80, EICHERMOT by 3.56% to Rs 21,855.00, BAJAJ-AUTO by 3.01% to Rs 2,853.65., GRASIM by 2.86 to Rs 754.50.

Top Losers

JSWSTEEL By -2.35% to Rs 272.75, RELIANCE by -1.70% to Rs 1,288.00, LT by -1.46% to Rs 1,295.15, POWERGRID by -1.18% to Rs 184.60, HDFC by -1.13% to Rs.1,965.50.

Analysis Of Top Gainer And Loser

ZEEL is the top gainer in today's market after the company said its promoters are open to sell over 50 percent of their holdings as a part of their asset monetization to repay debt.

JSWSTEEL is the top loser in today's market, a day after it reported a 10 percent year-on-year (YoY) drop in consolidated profit to Rs 1,603 crore for the December quarter. Revenue from operations rose 11 YoY to Rs 20,318 crore, while the operating Ebitda rose 17 percent YoY to Rs 4,501 crore, the company said in a BSE filing. Global brokerage CLSA expects a sharp fall in the fourth quarter margin and had maintained a 'Sell' call on the stock with a target price of Rs 225.

Key Market News

  • Indias Monetary Policy Committee Cuts Rate By 25 Basis Points to 6.25 percent.
  • India Reverse REPO Rate at 6.00%
  • The Reserve Bank of India has relaxed regulations on the bank exposures to NBFCs in order to facilitate the flow of credit to well-rated firms, according to its statement. Risk-weights of bank exposure to NBFCs will now be in-line with the ratings assigned by credit rating agencies. This will not be applicable to NBFC-Core Investment Companies, risk-weight exposures to CICs will remain at 100 percent.
  • Indias central has bank proposed rationalization of Interest Rate Derivative so as to encourage better management of interest rate risks, it said in a statement.
  • Federal Reserve Chairman Jerome Powell said on Wednesday the US economy remains in a good place and has proved resilient so far to shocks like the British decision to leave the European Union.
  • The Union Cabinet on Wednesday approved proposals to amend the Banning of Unregulated Deposit Schemes Bill, 2018. This will further strengthen the Bill in its objective to effectively tackle the menace of illicit deposit-taking activities, and prevent such schemes from duping the poor, Law Minister Ravi Shankar Prasad said.

Stocks To Watch

GRASIM is on the upside while JSWSTEEL is on the downside.

GRASIM is currently quoting at Rs.754.50 up by Rs 21.00 or 2.86% from its previous closing of Rs.733.50 on the NSE. The scrip opened at Rs.738.05 & has touched a high & low of Rs.756.80 and Rs.730.90 respectively. So far 28,48,786(NSE) shares were traded on the counter. The current market cap of the company is Rs 49,529.78Cr. The NSE/BSE group stock has touched a 52 week high of Rs.1,201.65 on 27-FEB-2018 & a 52 week low of Rs. 698.00 on 05-FEB-2018.

JSWSTEEL is currently quoting at Rs. 272.75 down by Rs.-6.55 or -2.35% from its previous closing of Rs.279.30 on the NSE. The scrip opened at Rs.278.00 & has touched a high & low of Rs.281.40 and Rs.272.00 respectively. So far 62,52,085(NSE) shares were traded on the counter. The current market cap of the company is Rs 65,953.86cr. The BSE/NSE group stock has touched a 52 week high of Rs 427.55 on 12-SEP-2018 & a 52 week low of Rs 262.20 on 30-JAN-2019.

Share Market News 06-February-2019

Sensex rises for 5th day in a row, Nifty above 11,050

Indian Equity Benchmark indices started on the positive note on Wednesday with Nifty trading above 10,950 level, Tech Mahindra Surges to record High rose as much as 5.8 percent, The stock was the top performer on Nifty as the companys quarterly profit rose in the three months ended December, led by its communications and enterprise businesses. The Sensex was up 98.30 points at 36715.11, while Nifty grew by 42.60 points at 10977.Among sector compiled by NSE advanced, led by the Nifty Media Indexs 2.4 percent rally. US stocks grew on Tuesday as largely upbeat corporate results fueled investor optimism ahead of the highly awaited State of the Union address by President Donald Trump.

In the afternoon session, Indian markets continued to trade higher, Nifty was trading above 11000 Mark. The Sensex grew 206.26 points or 0.56% at 36823.07, and the Nifty up by 66.65 points or 0.61% at 11001.00 Among sector Media, IT, Metal was trading higher, While reality, Infra, pharma was trading in the red. In a Broder Market, the NSE mid-cap & Small-Cao was underperforming the major indices, NSE mid-cap was down by 0.34% and smallcap indices were trading lower by 0.36%, respectively.

In the last hour of trade, Indian equity benchmarks were trading at days high with Nifty around 11050 level. Indian equity Benchmark indices ended higher for the fifth day in a row, The Sensex was up 358.42 points at 36975.23, while Nifty was up 128.10 points at 11,062.50. All the sector ended in green led by metal and IT with 2 percent gain, followed by auto, energy, FMCG, and Pharma. In the broader Market, the NSE MidCap Index was up by 0.06 percent and the NSE SmallCap Index grew by 0.47 percent. We remain cautiously optimistic on the market in the near term. Tomorrows RBI monetary policy would provide further direction. The recent softening in CPI inflation, disappointing IIP numbers and US Feds signal to slow the pace of interest rate hikes had built-in expectations of a rate cut or a change in policy stance in tomorrows RBI monetary policy meeting. We feel the commentary on the outlook of interest rates would hold a significance. Further, with more results scheduled in the next couple of weeks, stock-specific volatility will remain high. Globally, crude oil price and INR-USD movement would continue to remain on the market radar.

Top Gainers

TECHM by 8.12% to Rs 812.00. , CIPLA by 7.30% to Rs 545.10, ZEEL by 6.46% to Rs 388.95., BAJFINANCE by 4.39% to Rs 2,718.00., TATASTEEL by 4.34% to Rs 484.85.

Top Losers

ADANIPORTS By -3.13% to Rs 329.15, INDUSINDBK by -1.23% to Rs 1,522.75, DRREDDY by -1.04% to Rs 2,792.00, TITAN by -0.69% to Rs 1,059, AXISBANK by -0.47% to Rs.726.10.

Analysis Of Top Gainer And Loser

TECHM is the top gainer in today's market, The companys quarterly profit rose in the three months ended December, led by its communications and enterprise businesses. Key Earnings Highlights (Q3, QoQ) Revenue up 3.6 percent to Rs 8,943 crore. Net profit up 14.3 percent to 1,207 crores. EBIT up 8.6 percent to 1,439 crores. EBIT Margin at 16.1 percent versus 15.4 percent.

ADANIPORTS is the top loser in today's market, The company announced the Q3FY2019 Result, earnings before interest, tax, depreciation, and amortization rose 3 percent year-on-year to Rs 1,843 crore, according to its exchange filing. Net profit rose 41.7 percent on a yearly basis to Rs 1,409 crore, higher than the Rs 1,086-crore forecast. The companys revenue rose 5 percent year-on-year to Rs 2,824 crore for the three month period. That compares with the Rs 2,734 crore estimate. Operating margin narrowed to 65.30 percent from 66.30 percent a year ago.

Key Market News

  • The finance ministry expects Rs 69,000 crore dividend from the Reserve Bank of India (RBI) in the next financial year, sources said. The government has projected to mobilize Rs 82,911.56 crore as dividend or surplus from the RBI, nationalized banks and financial institutions during 2019-20.
  • Capital markets regulator Sebi asks exchanges to step up intra-day surveillance; stocks with negative news flow under the scanner.
  • Pradeep Singh Kharola named as Civil Aviation Secretary.
  • The Union Cabinet is likely to discuss a proposal on Wednesday for providing an additional Rs 6000-crore soft loan to sugar mills to increase their ethanol production capacities under an incentive scheme. The proposal may include non-molasses-based distilleries.
  • NSE has added Religare Enterprises, Vipul and Binani industries to the list of stocks under short-term additional surveillance measure (ASM) framework. Automotive Stampings and Assemblies and MVL have been taken out of the list.
  • U.K. Services Purchasing Managers Index (PMI) reported 50.1.
  • Foreign portfolio investors (FPIs) bought Rs 420.65 crore worth of domestic stocks on Tuesday, DIIs were net sellers to the tune of Rs 194 crore.

Stocks To Watch

AUROPHARMA is on the upside while BIOCON is on the downside.

AUROPHARMA is currently quoting at Rs.762.05 up by Rs 18.55 or 2.49% from its previous closing of Rs.743.50 on the NSE. The scrip opened at Rs.745.50 & has touched a high & low of Rs.764.50 and Rs.738.00 respectively. So far 20,20,397NSE) shares were traded on the counter. The current market cap of the company is Rs 44,567.06Cr. The NSE/BSE group stock has touched a 52 week high of Rs.830.45 on 04-DEC-2018 & a 52 week low of Rs. 527.00 on 04-JUN-2018.

BIOCON is currently quoting at Rs. 634.20 down by Rs.-15.10 or -2.33% from its previous closing of Rs.649.30 on the NSE. The scrip opened at Rs.650.60 & has touched a high & low of Rs.652.55 and Rs.628.10 respectively. So far 11,79,571(NSE) shares were traded on the counter. The current market cap of the company is Rs 38,037.00cr. The BSE/NSE group stock has touched a 52 week high of Rs 718.00 on 26-SEP-2018 & a 52 week low of Rs 543.30 on 26-JUL-2018.

Share Market News 05-February-2019

Sensex rises for the fourth day; Nifty Above 10900.

Indian Equity Benchmark indices were trading flat with Nifty holding above 10,900 level, Bharti Airtel shares fell around 2% after Moodys Investor Service downgraded Bharti Airtel Ltd. the Sensex was up 27.16 points at 36609.90, while Nifty grew by 13.40 points at 10925.70.Among sector compiled by NSE advanced, led by the Nifty Media Indexs 0.5 percent gain. While, the Nifty Metal Index was the top sectoral loser, down 0.17 percent. The market breadth was inclined in favor of sellers. About 336 shares have advanced, 455 shares declined, and 43 shares are unchanged. Wall Street had gained on Monday, with all three major indexes closing near session highs on sustained optimism of the prospects for US-China trade relations propelled technology shares.

In the afternoon session, Indian markets continued to trade mixed, Nifty was trading around 10920. While Nikkei India Services Purchasing Managers' Index stood at 52.2 in January from 53.2. The Sensex was down 4.51 points or 0.01% at 36578.23, and the Nifty up by 6.30 points or 0.06% at 10918.55. Among sector Media, Auto, Pharma was trading higher, While reality, IT, metal was trading in the red zone. In a Broder Market, the NSE mid-cap was up by 0.08% and smallcap indices were trading lower by 0.24%, respectively.

In the last hour of trade, Indian equity benchmarks were trading higher with Nifty around 10,950 level. Indian equity Benchmark indices have ended the session on a flat note, the Sensex was up 34.07 points or 0.09% at 36616.81, and the Nifty up 22.10 points or 0.20% at 10934.40. Except for automobiles, weakness was visible among all sectoral indices, with pain visible among energy, consumption, infra, and metals Indices. In the broader Market, Mid- and small-cap shares underperformed larger peers as the NSE MidCap Index drop by 0.77 percent and NSE SmallCap Index down by 1.39 percent. The market was volatile and faced stiff resistance at 10,950 levels. However, investors got bargaining opportunity in auto and private banks post January auto sales and in expectation of dovish RBI monetary policy. We continue to maintain a cautious view of the NBFC sector post the ILFS crisis. Advise investors to stay away from high debt companies and companies with corporate governance issues.

Top Gainers

ZEEL by 4.86% to Rs 364.65. , TITAN by 4.17% to Rs 1,068.50, UPL by 3.62% to Rs 798.80., DRREDDY by 2.99% to Rs 2,817.05., HEROMOTOCO by 2.94 to Rs 2,862.00.

Top Losers

COALINDIA By -2.70% to Rs 216.10, TATASTEEL by -2.38% to Rs 464.70, TATAMOTORS by -2.36% to Rs 176.00, YESBANK by -2.20% to Rs175.85, ONGC by -2.05% to Rs.143.25.

Analysis Of Top Gainer And Loser

ZEEL is the top gainer in today's market, The Zee Entertainment Enterprises Ltd (Zeel) promoter Essel Group has secured the formal consent of its lenders to whom the shares held by Essel have been pledged, the latter announced.A late Sunday announcement by the Subhash Chandra-led Essel Group said the formal consent has been received following a meeting on the day with lenders, to the understanding reached last week which has now been finalized."As per the consent, the lenders have agreed that there will not be any event of default declared till September 30, 2019, due to the movement in the stock price of Essel Group's mentioned listed corporate entities."This consent provides the required amount of time for the Group's management to complete the strategic sale process of its key assets without any compromise on the value," it said.

COALINDIA is the top loser in today's market, Coal India approved a buyback of 4.46 crore equity shares or 0.72 percent of outstanding equity shares at Rs 235 per share aggregating up to Rs 1,050 crore.

Key Market News

  • The Reserve Bank can cut key lending rate by 0.25 percent later this week in view of benign inflation, said an SBI research report on Monday. The six-member Monetary Policy Committee (MPC) headed by RBI Governor Shaktikanta Das will be starting its three-day meet in Mumbai on Tuesday and will be announcing the policy on February 7.
  • The Securities and Exchange Board of India (SEBI) have almost finalized the mechanism for tap issue of bonds through a shelf offer document and this can implement it from FY20. Under tap issue, companies could be allowed to file shelf prospectus on the same lines as private placements, once a year and raise money when required without going through the process of seeking approval from regulatory authorities.
  • The fiscal deficit has touched 112.4 percent of the full-year budget target of Rs 6.24 lakh crore at the end of December on account of lower revenue collections, government data showed on February 4.
  • Bill Gross, who reigned for decades as the Bond King at Pacific Investment Management, is retiring more than four years after jumping to Janus Henderson Group from the fixed-income giant he co-founded.
  • Foreign portfolio investors (FPIs) sold Rs 112 crore worth of domestic stocks on Monday, DIIs were net sellers to the tune of Rs 65 crore, data suggested.
  • U.K. Construction Purchasing Managers Index (PMI) 50.6, fore casted 52.6. A weaker than forecast reading is generally negative (bearish) for the GBP.
  • Nikkei India Services Purchasing Managers' Index stood at 52.2 in January from 53.2

Stocks To Watch

UPL is on the upside while BHEL is on the downside.

UPL is currently quoting at Rs.798.80 up by Rs 27.90 or 3.62% from its previous closing of Rs.770.90 on the NSE. The scrip opened at Rs.772.85 & has touched a high & low of Rs.800.00 and Rs.772.85 respectively. So far 25,16,447(NSE) shares were traded on the counter. The current market cap of the company is Rs 40,556.41Cr. The NSE/BSE group stock has touched a 52 week high of Rs.800 on 05-FEB-2019 & a 52 week low of Rs. 537.25 on 19-JUL-2018.

BHEL is currently quoting at Rs. 58.60 down by Rs.-6.35 or -9.78% from its previous closing of Rs.64.95 on the NSE. The scrip opened at Rs.64.95 & has touched a high & low of Rs.65.15 and Rs.56.20 respectively. So far 4,89,29,404(NSE) shares were traded on the counter. The current market cap of the company is Rs 20,509.35cr. The BSE/NSE group stock has touched a 52 week high of Rs 99.25 on 14-FEB-2018 & a 52 week low of Rs 56.20 on 05-FEB-2019.

Share Market News 04-February-2019


Sensex End Higher For Third Consecutive Day,Nifty above 10900; Led by Reliance.

Indian Equity Benchmark indices started the day on a negative note after rallying for two consecutive trading sessions, Anil Ambani group companies traded lower after RCom has decided to opt for insolvency proceedings, following its failure to sell assets for paying back its lenders. the Sensex was down 132.64 points at 36336.79, while Nifty declined by 42.50 points at 10851.20. Among sector compiled by NSE fell, led by the Nifty Media Indexs 3.18 percent decline. While, the Nifty IT Index was the top sectoral gainer, up 0.56 percent. The market breadth was inclined in favor of sellers.100 companies to report Q3 numbers today.

In the afternoon session, Indian markets were trading lower, Tata steel, Icici bank, M&M were among the top loser in Nifty, Titan soared To Record High After Q3 Profit Tops Estimates. The Sensex was down 157.49 points or 0.43% at 36311.94, and the Nifty fall by 53.80 points or 0.49% at 10839.95. Among sector, Excluding Energy all other sectors were trading in red led by metal, Infra, & media drop more than 1.5%, Reliance was up by 0.84% while Tata steel was down by 4.49. In a Broder Market, the NSE mid-cap was down by 0.83% and smallcap indices were trading lower by 1.32%, respectively.

In the last hour of trade, Indian equity benchmarks recover from day's low. Nifty was trading at 10870 marks. Indian equity Benchmark indices had ended on a positive note with Nifty closed above 10,900 level. The Sensex was up 113.31 points at 36582.74, while Nifty was up 18.60 points at 10912.30. Among sectors, infrastructure, auto, metal, FMCG, and pharma witnessed selling pressure, while some buying was visible in bank, energy and IT stocks. In the broader Market, Mid- and small-cap shares underperformed larger peers as the NSE MidCap Index drop by 0.87 percent and NSE SmallCap Index down by 1.55 percent. Key things to watch out will be Nikkei India Services PMI and Composite PMI, RBI Monetary Policy Meet, U.S. Federal Open Market Committee (FOMC) Member Mester Speaks, the Reserve Bank of Australia set monetary policy

Top Gainers

TITAN by 3.32% to Rs 1,024.50. , ONGC by 3.28% to Rs 146.45, RELIANCE by 3.16% to Rs 1,289.50., EICHERMOT by 2.53% to Rs 20,160.00., BAJAJ-AUTO by 1.70 to Rs 2,647.00.

Top Losers

IBULHSGFIN By -4.21% to Rs 650.05, HINDALCO by -3.45% to Rs 204.10, YESBANK by -3.34% to Rs 179.40, HINDPETRO by -3.27% to Rs.226.35, POWERGRID by -3.21% to Rs.184.10.

Analysis Of Top Gainer And Loser

TITAN is the top gainer in today's market, Titan soared To Record High After Q3 Profit Tops Estimates, Net sales up 34 percent at Rs 5,672 crore. Ebitda up 30.8 percent at Rs 585 crore. Ebitda margin at 10.3 percent versus 10.5 percent. Profit up 35 percent at Rs 416 crore.

IBULHSGFIN is the top loser in today's market, Company is been in a downtrend from many session over the issue faced by NBFC sector. Today company has also breached long term support and can witness much more downFall.

Key Market News

  • Manufacturing PMI in India increased to 53.9 in January from 53.2 in December of 2018. Manufacturing PMI in India is reported by Markit Economics.
  • Finance Minister Piyush Goyal will address the customary post-budget meeting of the central board of Reserve Bank of India on February 9 and will also highlight the key points of the interim Budget.
  • Economic Affairs Secretary S C Garg on February 1 said the government is expecting Rs 28,000 crore from the Reserve Bank as an interim dividend in the current fiscal. The government has already received Rs 40,000 crore from the Reserve Bank of India during 2018-19.
  • FPIs has pulled out a net amount of Rs 5,264 crore from equities and Rs 97 crore from the debt markets in January, taking the total outflow to Rs 5,361 crore, According to data available with the depositories.
  • The government will find it difficult to meet the fiscal deficit target of 3.4 percent in 2019-20 on account on higher spending and low revenue growth, Moody's Investors Service said.
  • President Donald Trump had conveyed that the US' massive trade deficit with China cannot be allowed to continue, a day after the officials from both countries concluded their latest round of negotiations on trade issues.
  • "The Monetary Policy Committee (MPC) will meet during February 5 to 7, 2019, for the Sixth Bi-monthly Monetary Policy Statement for 2018-19. The resolution of the MPC will be placed on the website at 11.45 am on February 7, 2019," the central bank said in a statement on its website.
  • Oct-January sugar output stood at 18.5 million tonnes against 17.1 million tonnes last year, According to data released by ISMA
  • Chinas financial markets are closed all week for the Lunar New Year holiday. Markets across Korea and Taiwan to are shut for the day.

Stocks To Watch

TATASTEEL is on the upside while AUROPHARMA is on the downside.

TATASTEEL is currently quoting at Rs.474.75 up by Rs 0.05 or 0.01% from its previous closing of Rs.474.70 on the NSE. The scrip opened at Rs.474.90 & has touched a high & low of Rs.478.60 and Rs.452.00 respectively. So far 1,09,72,028(NSE) shares were traded on the counter. The current market cap of the company is Rs 54,521.84Cr. The NSE/BSE group stock has touched a 52 week high of Rs. 720.50 on 14-FEB-2018 & a 52 week low of Rs. 441.35 on 29-JAN-2019.

AUROPHARMA is currently quoting at Rs. 760.00 down by Rs.-4.74 or -37.80% from its previous closing of Rs.797.80 on the NSE. The scrip opened at Rs.797.80 & has touched a high & low of Rs.804.95 and Rs.759.10 respectively. So far 26,59,793NSE) shares were traded on the counter. The current market cap of the company is Rs 44,898.10cr. The BSE/NSE group stock has touched a 52 week high of Rs 830.45 on 04-DEC-2019 & a 52 week low of Rs 527.00 on 04-JUN-2018.

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