Robust Earnings To Lead Market In Green
Oct 12, 2018 | 16:35 PM IST
Oct 12, 2018 | 16:35 PM IST
Our Analysis
This week Indian market witnessed a roller coaster ride again, however, a week of alternate upside and downside close ends on a positive note on Friday. After wiping out all its 2018 gains market was able to recover from the lower level. IT giant TCS kicked off the Q2 FY19 earnings on a good note also Bandhan bank & Tata Elxsi also presented a strong set of numbers. Indian Rupee depreciated at its all-time low while Crude oil prices also surged to four-year high but did able to recover strongly at the end of the week. Next week lot of Nifty 50 companies will present Q2 FY19 numbers. The market is expected to remain volatile & can be rangebound between 10,100 to 10,500 & for rally Nifty need to stay above 10,500 on a closing basis. Rupee movement, crude oil price, WPI data will be an event to watch next week.
This Weeks Market Highlights:
Benchmark Indices:
1. The market started the week on a positive note as Sensex closed nearly 100 points higher while Nifty closed near 10,350.
2. On Tuesday benchmark indices tumbled after a day pause as Sensex fall 175 points but Nifty able to hold 10,300.
3. On Wednesday bulls took total control in D-street as Sensex surged over 450 points while Nifty back above 10,450 levels.
4. Nifty banking & financials, auto, metals, pharma index led the rally while IT index was the biggest loser. Nifty midcap & smallcap index also surged over 4%.
5. On Thursday bloodbath was seen again in the D-street as Sensex lost over 750 points while Nifty closed below 10,250 due to global sell-off.
6. Weakness was clearly visible among banking & financials along with metals, auto, pharma, realty & IT stocks. The nifty Midcap index closed 2.34% lower.
7. On Friday bulls took control in D-street with rupee recovery.
Broader Index & Global Market::
- This week broader market witnessed a strong volatility of ups & downs but ended on a good note as smallcap & midcap both indices rose over 2%. All sectoral indices recovered strongly from lower level baring IT & Pharma while Banking & Financials, Auto, Media, Energy, Metal, Realty & FMCG index rose over 2-5%.
- This week US market falls most since February on the fresh concern over US-China trade war. European equities are also falling to 2016 low with Italian stocks enter to bear market. Asian market also falls to its February low amid concern the trade war heating up as financial conditions tighten, dampening the outlook for profits. US crude oil inventory, trade war, US bond yields will be an event to watch.
Movers & Shakers
Shares of fuel retailers HPCL surged over 30% this week after a sharp decline in crude oil prices. Crude oil is the raw material for oil marketing companies. Oil prices traded around $86 a barrel a few days back on supply concerns ahead of US' sanctions on Iranian oil effective from November, which fell to around $81 a barrel now.
Shares of Tata Elxsi slipped over 10% this week even as the company posted 16.57% YoY rise in net profit at Rs.82.18 crore for the quarter ended September 2018. It had posted a net profit of Rs.70.50 crore in the sequential quarter ended June 2018. Total income from operations of increased to Rs.426.10 crore in Q2FY19 over a Rs.389.88 crore in Q1FY18.
Key Market Drivers
Growth in India is firming up and projected to accelerate to 7.3% in the 2018-19 fiscal and 7.5% in the next two years with stronger private spending and export growth, the World Bank said on Sunday
The International Monetary Fund(IMF) on Tuesday forecasted a growth rate of 7.3% for India in the current year of 2018 & that of 7.4% in 2019. The world body said in its latest World Economic Outlook report, This acceleration reflected a rebound from transitory shocks with strengthening investment and robust private consumption. India had clocked a 6.7% growth rate in 2017.
Crude Oil price dropped to extend big losses from the previous session as global stock markets suffered a rout, with crude prices also taking a hit from a weekly industry report showing US crude inventories had risen more than expected. Brent crude futures fall below $81/ barrel in the global market to its two-week low.
Event Watch
Indias WPI data for Sept. (YoY) will be on 15th October 2018. Trade Balance & Forex Reserve data will be next week.
Q2 FY19 Results:- Infosys, Hero Motocorp, HDFC Bank, IndusInd Bank, Indiabulls Housing Finance, Reliance Industries, ACC, Federal Bank, Ultratech Cement, SBI Life, Mphasis, Mindtree, Havells India, Cyient.
Global:- US Manufacturing Production, Industrial Production, Crude Oil Inventories will be next week. GBP Core CPI, CPI, also will be next week.
Stocks To Watch
GM Breweries Ltd. is on the upside while Bombay Dyeing Ltd. is on the downside.
Share Market News 11-October-2018
Indian Markets Struggles On Global Sell-Offs, Nifty Below 10,250
The Benchmark indices witnessed gap down opening, Sensex tanked 950 points & Nifty below 10,200. The equity market continued to trade lower as Sensex down 860 points while Nifty below 10,200. All sectoral indices under selling pressure led by banking & financials, metal, IT, realty, auto, pharma & FMCG, tanked over 1-5%. The Nifty midcap index underperformed the market, down over 2%.
In the afternoon session market was off days low as Sensex was down 500 points & Nifty back above 10,300. OMCs, media & some private banks rallied while metal, IT, FMCG, auto, financials, realty & pharma continued to witness selling pressure. The Nifty midcap index was also off days low, down 1%.
In the last hour of trade market extended fall as Sensex was down nearly 800 points while Nifty struggled below 10,250. A sell-off in global markets had its impact on the domestic market as well. Weakness was clearly visible among banking stocks, particularly among PSU banks along with metals, auto, pharma & IT stocks. The Nifty Midcap index also corrected in line with the market, closed 2.34% lower. Sensex closed 759.74 points down at 34,001.15, Nifty down by 225.45 points at 10,234.65.
Top Gainers
HindPetro by 16.21% to Rs.210.00, IOC by 5.77% to Rs.131.15, BPCL by 4.84% to Rs.278.25, GAIL by 4.06%to Rs.350.00, Yes Bank by 3.04% to Rs.241.00.
Top Losers
IBULHSGFIN by -9.12% to Rs.889.00, Bajaj Finserv by -6.20% to Rs.5,592, SBIN by -6.08% to Rs.261.70, Tata Steel by -4.99% to Rs.554.50, Hindalco by -4.63% to Rs.216.40.
Analysis Of Top Gainer And Loser
HindPetro is the top gainer in today's market after a sharp decline in crude oil prices on Thursday. Oil prices traded around $86 a barrel a few days back on supply concerns ahead of US' sanctions on Iranian oil effective from November, which fell to around $81 a barrel now.
Indiabulls Housing Finance is the top loser in today's market as strong selling pressure was seen in the stock.
Key Market News
President Donald Trump on Wednesday said that India "will soon find out" about his decision on the punitive CAATSA sanctions after India signed a USD 5 billion deal to purchase the much-vaunted S-400 air defence system from Russia. Under the Countering America's Adversaries through Sanctions Act or CAATSA sanctions, which was amended early this year, only Trump has the authority for the presidential waiver to India on weapons deal with sanctions-hit Russia. India inked a USD 5 billion deal to purchase S-400 Triumf air defence system from Moscow last week.
Oil dropped on Thursday to extend big losses from the previous session as global stock markets suffered a rout, with crude prices also taking a hit from a weekly industry report showing US crude inventories had risen more than expected. Brent crude futures were down 66 cents, or 0.8%, at $82.43 a barrel by 0024 GMT. The global oil benchmark closed 2.2% lower on Wednesday after falling to a nearly two-week low.
Stocks To Watch
Hindustan Petroleum Corporation Ltd. is on the upside while Bandhan Bank Ltd. is on the downside.
HPCL is currently trading at Rs.210.00, up by Rs.29.30 or 16.21% from its previous closing of Rs.180.70 on the NSE. The scrip opened at Rs.177.35 & has touched a high & low of Rs.216.40 and Rs.176.15 respectively. So far 4,48,19,623 (NSE) shares were traded on the counter. The current market cap of the company is Rs.31,565.99 Crore. The NSE/BSE group stock has touched a 52 week high of Rs.484.35 on 26-October-2017 & a 52 week low of Rs.163.00 on 05-October-2018.
Bandhan Bank is currently trading at Rs.469.70, down by Rs.42.45 or 8.29% from its previous closing of Rs.512.15 on the NSE. The scrip opened at Rs.490.00 & has touched a high & low of Rs.491.95 and Rs.462.15 respectively. So far 35,21,166 (NSE) shares were traded on the counter. The current market cap of the company is Rs.56.163.22 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.741.80 on 09-August-2018 & a 52 week low of Rs.422.10 on 03-October-2018.
Share Market News 09-October-2018
Market Resume Decline Weighed Down By Autos, Nifty Near 10,300
The Benchmark indices started on a positive note, Sensex rose 90 points & Nifty above 10,350. The equity market turned lower as Sensex was down 70 points while Nifty held 10,300. Nifty Auto, FMCG, IT, Realty & PSU Bank index dragged market while metal, media & financials supporting the market. Broader market continued to underperform frontline indices, as midcap traded nearly 1% lower.
In the afternoon session market continued to remain lower as Sensex was down over 50 points while Nifty holds 10,300. On the sectoral space pharma, metal & financials continued to support the market while auto, FMCG, realty & PSU bank index remained lower. The Nifty midcap index traded nearly 1% lower.
In the last hour of trade market turned positive as Sensex rose 100 points while Nifty above 10,350. The Market resumed its downtrend after a brief pause. With the large-scale selling across auto, energy & FMCG names however metals & pharma were the top gainers today. Midcaps recovered from low points & ended 0.30% lower. Sensex closed 174.91 points down at 34,299.47, Nifty down by 47.00 points at 10,301.05.
Top Gainers
Dr. Reddy by 5.36% to Rs.2,465.55, ZEEL by 4.58% to Rs.433.00, Bajaj Finance by 4.36% to Rs.2,061, Adani Ports by 4.21%to Rs.317.15, Vedanta by 2.61% to Rs.212.15.
Top Losers
Tata Motors by -13.09% to Rs.184.55, Titan by -7.93% to Rs.749.00, HindPetro by -4.32% to Rs.171.45, Eicher Motors by -4.22% to Rs.21,200, Asian Paints by -3.56% to Rs.1,203.40.
Analysis Of Top Gainer And Loser
Dr. Reddys Labs is the top gainer in today's market as strong buying was seen in the stock on companys received nods for their product.
Tata Motors is the top loser in today's market after JLR sales fell in September. JLRs September sales fell 12.3% to 57,114 units on a year-on-year basis. The monthly sales were impacted by the ongoing uncertainty in the Chinese market as sales in China slumped 46.2% resulting from import duty changes.
Key Market News
The International Monetary Fund on Tuesday forecasted a growth rate of 7.3% for India in the current year of 2018 & that of 7.4% in 2019. The world body said in its latest World Economic Outlook report, This acceleration reflected a rebound from transitory shocks (the currency exchange initiative & implementation of the GST), with strengthening investment and robust private consumption. India had clocked a 6.7% growth rate in 2017. If projections are true, then India would regain the tag of fastest-growing major economies of the world, crossing China with more than 0.7% point in 2018 & an impressive 1.2% point growth lead in 2019.
The U.S. Federal Reserve will not need to raise interest rates much more to keep inflation under control, St. Louis Federal Reserve President James Bullard said on Monday. I dont think this is a situation where we need to get a lot higher with the policy rate in order to contain inflation, Bullard told Bloomberg television, adding that current rates are at good level relative to the economic environment.
Stocks To Watch
Balrampur Chini Mills Ltd. is on the upside while Tata Motors Ltd. is on the downside.
Balrampur is currently trading at Rs.84.45, up by Rs.6.40 or 8.20% from its previous closing of Rs.78.05 on the NSE. The scrip opened at Rs.80.75 & has touched a high & low of Rs.86.95 and Rs.80.10 respectively. So far 1,54,87,193 (NSE) shares were traded on the counter. The current market cap of the company is Rs.1,948.49 Crore. The NSE/BSE group stock has touched a 52 week high of Rs.179.45 on 01-November-2017 & a 52 week low of Rs.58.70 on 16-May-2018.
Tata Motors is currently trading at Rs.184.55, down by Rs.27.80 or 13.09% from its previous closing of Rs.212.35 on the NSE. The scrip opened at Rs.205.70 and has touched a high & low of Rs.206.00 and Rs.170.30 respectively. So far 14,27,60,251 (NSE) shares were traded on the counter. The current market cap of the company is Rs.53,199.40 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.468.00 on 06-November-2017 & a 52 week low of Rs.170.30 on 09-October-2018.
Share Market News 08-October-2018
The Multi-day Struggle Ends On a Positive Note, Sensex up by 97.39 points and Nifty above 10,340
The Benchmark indices started on a negative note as Sensex dropped 100 points & Nifty below 10,300 mark. A sharp turn around pushed market higher as Sensex rose 120 points while Nifty above 10,350. Nifty bank, auto and pharma led the rally while metal, IT & realty index traded in red. Broader market continued to trade weak, though off days low, midcap traded 13 points lower.
In afternoon session market turned negative again as Sensex fall 80 points & Nifty below 10,300 as rupee breached 74/$. Baring PSU bank all other sectoral indices turned negative led by metal, IT, realty, FMCG & media. The Nifty midcap index continued to underperform market, was down over 1.5%.
In the last hour of trade market off days low as Sensex was down 45 points while Nifty above 10,300. A choppy day of trading ended on a positive note. Among sectors, energy, banks & auto were the top gainers while metals, pharma & FMCG names were laggards. The Nifty Midcap index underperformed market, closed 1.5% lower. Sensex closed 97.39 points up at 34,474.38, Nifty up by 31.60 points at 10,348.05.
Top Gainers
HindPetro by 8.54% to Rs.179.20, Yes Bank by 7.65% to Rs.221.75, IOC by 5.89% to Rs.125.00, Reliance by 5.83%to Rs.1,110, Hero Motocorp by 4.83% to Rs.2,873.10.
Top Losers
VEDL by -10.51% to Rs.207.30, Hindalco by -6.68% to Rs.224.95, Tech Mahindra by -3.43% to Rs.690.00, Bajaj Finance by -3.03% to Rs.1,962, Wipro by -2.40% to Rs.317.50.
Analysis Of Top Gainer And Loser
HindPetro is the top gainer in today's market after crude oil prices corrected as US government mulling to waive-off Iran oil import sanction on some countries.
Vedanta is the top loser in today's market after Aluminium price in global market fall. Also as company has bid for Essar Steel after NCLT allowed there bid, can rise debt rick for the company as it has bid a heavy amount.
Key Market News
Brent crude oil prices fell more than 1% on Monday after Washington said it may grant waivers to sanctions against Iran's oil exports next month, and as Saudi Arabia was said to be replacing any potential shortfall from Iran. International benchmark Brent crude oil futures were at $83.26 per barrel at 0352 GMT, down 90 cents, or 1.1%, from their last close. US sanctions will target Iran's crude oil exports from November 4, and Washington has been putting pressure on governments and companies worldwide to cut their imports to zero.
Growth in India is firming up and projected to accelerate to 7.3% in the 2018-19 fiscal and 7.5% in the next two years with stronger private spending and export growth, the World Bank said on Sunday. The global lender said that the Indian economy appears to have recovered from the temporary disruptions caused by demonetization and the introduction of the Goods and Services Tax (GST).
Stocks To Watch
Hindustan Petroleum Corporation Ltd. is on the upside while Dewan Housing Finance Corporation Ltd. is on the downside.
HPCL is currently trading at Rs.179.20, up by Rs.14.10 or 8.54% from its previous closing of Rs.165.10 on the NSE. The scrip opened at Rs.168.75 & has touched a high & low of Rs.180.95 and Rs.165.15 respectively. So far 3,96,02,681 (NSE) shares were traded on the counter. The current market cap of the company is Rs.27,200.23 Crore. The NSE/BSE group stock has touched a 52 week high of Rs.484.35 on 26-October-2017 & a 52 week low of Rs.163.00 on 05-October-2018.
DHFL is currently trading at Rs.219.05, down by Rs.56.10 or 20.39% from its previous closing of Rs.275.15 on the NSE. The scrip opened at Rs.274.00 and has touched a high & low of Rs.274.00 and Rs.206.40 respectively. So far 5,49,62,924 (NSE) shares were traded on the counter. The current market cap of the company is Rs.7,013.40 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.691.50 on 03-September-2018 & a 52 week low of Rs.206.40 on 08-October-2018.
At Niveza India Pvt Ltd., we all come to work everyday to take the challenges of stock market head on and to change people's perception that stock market investment is like a gamble. Over the years, we have built our profile as a company which has brought optimum value to our subscribers through our well-researched stock recommendations.... More>>
Disclaimer: Niveza does not guarantee the accuracy or completeness of information on the site, nor does Niveza assume any liability for any loss that may result from reliance upon any such information or recommendations. Information and recommendations on the site are for general information only. Nothing contained herein is an offer to sell nor solicitation to buy any securities.