Volatility Ahead, Stick To The Fundamentally Strong Stocks
Feb 15, 2019 | 16:53 PM IST
Feb 15, 2019 | 16:53 PM IST
Our Analysis
This week even after the RBI's rate cut announcement the market changed its outlook from bullish to the corrective phase. The market corrected for the fifth consecutive day, despite India's retail inflation coming in at 2.05 percent in January. the sentimental landscape has deteriorated on Dalal Street from the dizzying peaks into the deep valley within the span of just 4-5 trading session.
The Indian stock market has been a rollercoaster ride since the beginning of the New Year and no clear directional trend has emerged. On the YTD basis, the Indian benchmark has underperformed significantly, while the emerging market index has gained about 8%. However, given the fact that this being a general election year, the bulls will have to hold their horses till political uncertainty is out of the picture.
We believe this period of uncertainty is a good time to accumulate fundamentally strong companies with strong financials for the long run. After a significant dent in the valuation, these are starting to look reasonable in the mid-sized category, As an investor, we have to accept the fact that the best buying opportunities arise when other are dumping them in panic.
This Weeks Market Highlights:
Benchmark Indices:
1) On Monday, Benchmark indices continued to trade under selling pressure for the third consecutive session on Monday. Reliance Industries and ICICI Bank dragged the nifty lower.
2)The Sensex fell 151.45 points to 36,395.03 and the Nifty50 plunged 54.80 points to 10,888.80. Among the sectors compiled by NSE fell, led by the Nifty PSU Bank Index's 1.7 percent decline. While, the NSE Nifty Media Index was the top sectoral gainer, up 1.3 percent.
3)On Tuesday, Indian equity Benchmark indices ended lower. the Sensex declined by 241.41 points or 0.66% at 36153.62, and the Nifty down 57.40 points or 0.53% at 10831.40.
4)On Wednesday, Indian equity Benchmark indices witnessed a sell-off in the last 45 Min in todays trade. The Sensex dropped by 119.51 points at 36034.11, while Nifty declined by 37.70 points at 10793.70.
5) On Thursday, Benchmark indices continued their downtrend momentum with Nifty finished below 10,750 level. the Sensex declined by 157.89 points at 35876.22, while Nifty was down by 47.70 points at 10746.
6) Among the sectors compiled by NSE decline, led by Nifty IT Index was the top sectoral loser, down 1.1 percent. While Nifty Media Index's 3.9 percent rally.
7) On Friday, Indian equity benchmarks opened lower.
Broader Index & Global Market:
- On the global front, The US stock climbed higher to mark their best closing level, The sentiment turned merry after Lawmakers reached a tentative deal to prevent a government shutdown as well as the optimism fueled by the potential trade war deal between the US and China, with the trade talk's deadline looming in March.
- In the broader market, The Mid-cap and Small-cap are continuously under performing the benchmark indices, Nevertheless, we have seen some uptick buying in the Thursday market session as compared to benchmark indices.
Movers & Shakers
Shares of the Gujarat Narmada Valley Fertilizers & Chemicals plunged more than 50 percent in a week after the company posted the Q3FY19 results, Net Profit at Rs. 165.72 crores in December 2018 down 27.28% from Rs. 227.88 crore in December 2017.EBITDA stands at Rs. 154.63 crores in December 2018 down 66.52% from Rs. 461.83 crore in December 2017. GNFC EPS has decreased to Rs. 10.66 in December 2018 from Rs. 14.66 in December 2017.
Key Market Drivers
- India's exports to China has increased during April-December 2018 to $12.7 billion.
- Bad loans of PSU bank dropped by Rs 31,000 crore to Rs 8,64,433 crore in the first nine months of the current fiscal as compared to the end of March 2018.
- U.K. Gross Domestic Product (GDP) YoY reported 1.3%.
- The capital market regulator on Monday proposed to cap the daily movement of 20% for all the stock including the derivatives stock checking at the excessive price movement.
- Weekly options on the Nifty 50 Index has been started from Monday.
- The Centre is seeking to raise around 5,316 crores by selling its 3% stake, in private sector lender Axis Bank. The stake sale is aiming to meet its budgeted disinvestment target.
- India's factory output grew by 2.4 percent in December Vs 0.5 percent in November.
- Factory output had soared by 7.3 percent in December 2017.
- Manufacturing sector output grew by 2.7 percent in December Vs (-) 0.4 percent in November.
- Electricity production grew by 4.4 percent in December Vs 5.1 percent in November.
- Mining activity stood at -1 percent Vs 2.7 percent in November.
- India's retail inflation dropped marginally to 2.05 percent in January.
- RBI slaps penalties on 7 banks for violation of various banking norms, including Allahabad Bank, Bank of Maharashtra, HDFC and Kotak Mahindra Bank.
- The minimum support price(MSP) for raw jute has increased to Rs 3,950 per quintal for 2019-20 season from Rs 3,700 per quintal .
- US President Donald Trump commented that trade talks with China were going along very well ahead of a March 1 deadline for a deal.
- Japan Gross Domestic Product (GDP) QoQ at 0.3%
- U.S. Core Consumer Price Index (CPI) MoM at 0.2%
Event Watch
- India Trade Balance
- China CPI YoY
- US Industrial Prod MoM
- Japan Industrial Prodn YoY
- Nikkei Japan PMI Mfg
- US-China trade talk.
Stocks To Watch
YESBANK & DHFL is on the upside while M&m & ESCORT is on the downside.
Share Market News 14-February-2019
Sensex drops for the sixth day, Nifty below 10,750; Yes Bank soars 30%
Indian Equity Benchmark indices are trading lower, with Nifty hovering around 10,750 level. YesBank shares surged almost like 29 % after the lender said RBI has not found any divergence in the asset classification and provisioning done during 2017-18. the Sensex was down 52.52 points at 35981.59, while Nifty declined by 26.20 points at 10767.50. Among sector compiled by NSE fell, led by the Nifty Metal Indexs 0.98 percent decline. While, the Nifty FMCG Index was the top sectoral gainer, up 0.24 percent. The market breadth was inclining in favor of the seller.
In the afternoon session, Indian markets were trading lower. The Sensex was down by 136.28 points or 0.38% at 35897.83, and the Nifty declined by 53.45 points or 0.50% at 10740.20. Among sector Auto, Media & FMCG was trading higher, While energy, Infra, IT was trading in the red. In a Broder Market, NSE mid-cap was down by 0.18% and smallcap indices were trading lower by 0.33%, respectively.
In the last hour of trade, Nifty was trading at around 10760 Mark. Benchmark indices continued their downtrend momentum with Nifty finished below 10,750 level.. the Sensex was down 157.89 points at 35876.22, while Nifty was down 47.70 points at 10746. Among the sectors compiled by NSE decline, led by Nifty IT Index was the top sectoral loser, down 1.1 percent. While Nifty Media Index's 3.9 percent rally the. In the broader Market, the NSE MidCap Index was up by 0.61 percent and the NSE SmallCap Index grew by 0.66 percent. The market extended losses despite positive global market, as investors continued to give more focus on domestic cues while assessing global developments. Moderation in WPI to 2.76% in January provides an insight about the slowdown in the economy and earnings growth. Mid and smallcap rebounded after many days of correction, however, investors are yet to find stability in the market in expectation of election outcome, Global markets are holding firm these days, taking solace from recent updates on trade talks between the US and China. However, foreign fund outflows, weak rupee and not so encouraging earnings are dampening sentiment.
Top Gainers
YESBANK by 31.31% to Rs 222.50. , IBULHSGFIN by 6.74% to Rs 660.60, ZEEL by 6.55% to Rs 434.95, JSWSTEEL by 3.71% to Rs 281.025., TATAMOTORS by 2.77% to Rs 159.30.
Top Losers
IOC By -3.89% to Rs 124.85, BPCL by -3.48% to Rs 318.00, HINDALCO by -3.10% to Rs 192.05, BHARTIARTL by -2.79% to Rs 301.90.,GAIL by -2.36% to Rs.308.05.
Analysis Of Top Gainer And Loser
YESBANK is the top gainer in today's market session after the Reserve Bank of India observed no asset quality divergence" in 2017-18. Yes, Bank revealed a risk assessment report from the RBI for 2017-18, which met its norms and had zero divergences in its asset classification and provisioning.
IOC is the top loser in today's market, Shares of oil marketing companies extended their fall as Brent crude continued to gain for the third consecutive day.
Key Market News
- The mutual fund (MF) industrys bid to optimize yields on debt portfolios have led them to load up on exposure to the infrastructure space.
- The government on Wednesday hiked the minimum support price for raw jute to Rs 3,950 per quintal for 2019-20 season from Rs 3,700 per quintal in the previous season. The decision was taken at a meeting of the Cabinet Committee on Economic Affairs here, Union Minister Piyush Goyal said.
- Both bank credit, as well as deposits growth marginally, declined on a fortnightly basis, clipping at 14.5 percent at Rs 94.29 lakh crore deposits grew at a tepid 9.63 percent to Rs 121.22 lakh crore for the fortnight ending February 1, according to the latest RBI data.
- US President Donald Trump said on Wednesday trade talks with China were going along very well as the worlds two largest economies try to resolve their seven-month tariff war ahead of a March 1 deadline for a deal.
- Japan Gross Domestic Product (GDP) QoQ at 0.3%
- U.S. Core Consumer Price Index (CPI) MoM at 0.2%
Stocks To Watch
KAJARIACER is on the upside while INFY is on the downside.
KAJARIACER is currently quoting at Rs.519.90 up by Rs 9.30 or 1.82% from its previous closing of Rs.510.60 on the NSE. The scrip opened at Rs.508.00 & has touched a high & low of Rs.519.90 and Rs. 503.25 respectively. So far 2,78,647(NSE) shares were traded on the counter. The current market cap of the company is Rs 8,280.52Cr. The NSE/BSE group stock has touched a 52 week high of Rs.619.90 on 14-FEB-2018 & a 52 week low of Rs. 310.00 on 25-OCT-2018.
INFY is currently quoting at Rs. 740.35 down by Rs.-14.55 or -1.93% from its previous closing of Rs.754.90 on the NSE. The scrip opened at Rs.751.00 & has touched a high & low of Rs.753.00 and Rs.737.25 respectively. So far 46,10,535,(NSE) shares were traded on the counter. The current market cap of the company is Rs 3,23,192.90cr. The BSE/NSE group stock has touched a 52 week high of Rs 772.25 on 08-FEB-2019 & a 52 week low of Rs 545.10 on 14 -FEB-2018.
Share Market News 13-February-2019
Markets Clock A Longest Losing Streak Of Last Five Months, Sensex slips 119 pts
Indian Equity Benchmark indices started on a positive note with Nifty trading above 10,850 marks. Retail inflation softens to a 19-month low of 2.05% in January. The Sensex was up 199.06 points at 36352.68, while Nifty grew by 58.60 points at 10890. Among sector compiled by NSE advanced, led by the Nifty FMCG Indexs 1.23 percent gain. On the While, the Nifty Media Index was the top sectoral loser, down 0.35 percent. The market breadth was inclining in favor of buyers. Asian stocks have edged up to a more than four-month high today, lifted by the optimism that the US and China could be able to hammer out a deal to resolve their nearly year-long trade dispute.
In the afternoon session, Indian markets were trading flat, Shares of the oil marketing companies fall as Brent crude extended gains for the second day. The Sensex was up by 96.29 points or 0.27% at 36249.91, and the Nifty declined by 24.65 points or 0.23% at 10856.05. Among sector Reality, FMCG was trading higher, While media, auto was trading in the red. In a Broder Market, NSE mid-cap was up by 0.47% and smallcap indices were trading lower by 0.09%, respectively.
In the last hour of trade, Indian markets were trading at days low, Nifty was at around 10840 Mark. Indian equity Benchmark indices witnessed a sell-off in the last 45 Min in todays trade. The Sensex was down 119.51 points at 36034.11, while Nifty was down 37.70 points at 10793.70. Among the sectors compiled by NSE fell, led by the Nifty PSU Bank Indexs 2.1 percent decline. While, the NSE Nifty IT Index was the top sectoral gainer, up 0.65 percent. In the broader Market, the NSE MidCap Index was down by 0.33percent and the NSE SmallCap Index declined by 0.85 percent. We continue to maintain a cautious stance in the near term with lack of any major positive triggers and uncertain global cues. On the domestic front, investors would focus on the last leg of Q3FY19 earnings season and WPI data. Further, investors would keep an eye on the progress of trade talks between US-China, the behavior of crude oil prices and fluctuation in currency. We advise investors to focus on fundamentally sound companies with strong financials and healthy prospects.
Top Gainers
ADANIPORTS by 4.82% to Rs 342.55. , IBULHSGFIN by 3.61% to Rs 620.50, UPL by 2.30% to Rs 814.50, TATAMOTORS by 2.21% to Rs 155.15., HCLTECH by 0.96% to Rs 1,069.00.
Top Losers
EICHERMOT By -4.82% to Rs 20,118.10, IOC by -3.90% to Rs 129.50, HINDPETRO by -3.87% to Rs 225.00, BPCL by -3.09% to Rs 328.80., SBIN by -3.05% to Rs.267.00.
Analysis Of Top Gainer And Loser
ADANIPORTS is the top gainer in today's market session we have witnessed a good buying in the Adani group stock.
EICHERMOT is the top loser in today's market, the company witnesses a selling pressure, surged nearly 5% in a day.
Key Market News
- The Securities and Exchange Board of India (Sebi) are planning to tighten risk management practices in equity derivatives and stocks in the runup to the general elections. The market regulator is likely to tighten margin rules for futures and options trades and restrict the introduction of strike prices in options intra-day as it looks to curb wild speculation by traders.
- India's factory output growth grew 2.4 percent in December after hitting a 17-month low of 0.5 percent in November.
- Factory output had grown by 7.3 percent in December 2017.
- Manufacturing sector output, which accounts for more than three-fourths of the entire index, grew 2.7 percent in December from a deceleration of (-) 0.4 percent in November.
- Electricity production growth stood at 4.4 percent in December from 5.1 percent in November.
- Mining activity, which accounts for over 14 percent of the entire index, stood at -1 percent as compared with 2.7 percent in November.
- India's retail inflation declined marginally to 2.05 percent in January due to cheaper food items and fuel prices.
- RBI slaps penalties on 7 banks for violation of various banking norms, including Allahabad Bank, Bank of Maharashtra, HDFC and Kotak Mahindra Bank.
- Foreign portfolio investors (FPIs) sold Rs 467 crore worth of domestic stocks on Tuesday, data available with NSE suggested. DIIs were net sellers to the tune of Rs 123 crore, data suggested.
Stocks To Watch
UPL is on the upside while VIPIND is on the downside.
UPL is currently quoting at Rs.814.50 up by Rs 18.30 or 2.30% from its previous closing of Rs.796.20 on the NSE. The scrip opened at Rs.794.00 & has touched a high & low of Rs.824.00 and Rs.792.35 respectively. So far 30,34,355(NSE) shares were traded on the counter. The current market cap of the company is Rs 41,623.48Cr. The NSE/BSE group stock has touched a 52 week high of Rs.824.00 on 13-FEB-2019 & a 52 week low of Rs. 537.25 on 19-JUL-2018.
VIPIND is currently quoting at Rs. 422.25 down by Rs.-21.65 or -4.88% from its previous closing of Rs.443.90on the NSE. The scrip opened at Rs.455.00 & has touched a high & low of Rs.455.00 and Rs.420.40 respectively. So far 20,00,379(NSE) shares were traded on the counter. The current market cap of the company is Rs 6,003.87cr. The BSE/NSE group stock has touched a 52 week high of Rs 647.00 on 28-AUG-2018 & a 52 week low of Rs 287.10 on 19-MAR-2018.
Share Market News 12-February-2019
Sensex drops for the 4th day in a row, ahead of inflation data
Indian Equity Benchmark indices started the week marginally lower, the Nifty was trading below 10,900. IT stocks were under pressure today, with TCS and Infosys down about 2%. The Sensex was down 47.42 points or 0.13% at 36347.61, and the Nifty down 13.70 points or 0.13% at 10875.10. Among sector compiled by NSE advanced, led by the Nifty Media Index 1.09 percent rally. While, the Nifty IT Index was the top sectoral loser, down 0.7 percent. Most Asian shares were subdued today, As the focus shifted on the new round of China-US trade talks. Beijing and Washington are trying to hammer out a deal before a March 1 deadline, without which US tariffs on $200 billion worth of Chinese imports are scheduled to increase to 25% from 10%.
In the afternoon session, Indian markets were trading Mixed, The Sensex was down by 16.75 points or 0.05% at 36378.28, and the Nifty declined by 4.50 points or 0.04% at 10884.30. Among sector Media, energy was trading higher, While IT was trading in the red. In a Broder Market, NSE mid-cap was up by 0.09% and smallcap indices were trading lower by 0.27%, respectively.464 companies to report Q3 numbers today.
In the last hour of trade, Indian markets were trading at days low, Nifty was at around 10840 Mark. Indian equity Benchmark indices ended lower. the Sensex was down 241.41 points or 0.66% at 36153.62, and the Nifty down 57.40 points or 0.53% at 10831.40. Among the sectors compiled by NSE fell, led by the Nifty PSU Bank Indexs 1.6 percent decline. While, the Nifty Media Index was the top sectoral gainer, up 1.33 percent. In the broader Market, the NSE MidCap Index was up by 0.05percent and the NSE SmallCap Index declined by 0.33 percent. Lack of positive triggers is impacting the sentiment of the domestic equity market. India is underperforming in spite of the improvement in the global market and appreciation in the rupee. Inflows have reduced this month due to muted Q3 results and outcome of the general election. The expectation is that market momentum will reverse as economy stabilize post-election and borrowing cost reduce, Investors took a cautious approach ahead of the industrial production (IIP) data for December and inflation numbers for January to be released in the post market hours. This data will dictate the market in tomorrows trading session.
Top Gainers
ZEEL by 4.06% to Rs 418.00. , JSWSTEEL by 3.98% to Rs 272.00, SUNPHARMA by 3.24% to Rs 442.45, NTPC by 2.22% to Rs 133.25., COALINDIA by 1.97% to Rs 223.10.
Top Losers
INFRATEL By -3.34% to Rs 312.70, HEROMOTOCO by -3.01% to Rs 2,802.00, HDFC by -2.24% to Rs 1,904.50, SBIN by -1.93% to Rs 275.10., ICICIBANK by -1.73% to Rs.344.00.
Analysis Of Top Gainer And Loser
ZEEL is the top gainer in today's market 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.
INFRATEL is the top loser in today's market, Moodys Investor Service downgraded Bharti Airtel Ltd
Key Market News
- Foreign portfolio investors (FPIs) sold Rs 125 crore worth of domestic stocks on Monday, DIIs were net sellers to the tune of Rs 233 crore.
- To check excessive price movements, capital markets regulator Sebi Monday proposed a slew of measures including capping the maximum daily movement of up to 20 percent for all stocks including that are part of the future and options (F&O) segment. There have been concerns that investors' wealth is getting wiped out in a single day by recent falls in stocks on which derivative products are available, as no price band is applicable to them.
- Leading stock exchange NSE Monday launched weekly options on the Nifty 50 Index, which will provide market participants an additional hedging tool to manage portfolio risk more effectively.
- Retirement fund body EPFO is likely to retain the interest rate on employees' provident fund at 8.55 percent rate for the 2018-19 fiscal for its more than six crore subscribers
- The Centre is seeking to raise around 5,316 crores by selling its 3% stake, owned through the Specified Undertaking of the Unit Trust of India (SUUTI), in private sector lender Axis Bank. The stake sale is aimed at helping North Block meet its budgeted disinvestment target.
Stocks To Watch
SUNPHARMA is on the upside while BEML is on the downside.
SUNPHARMA is currently quoting at Rs.442.45 up by Rs 13.90 or 3.24% from its previous closing of Rs.428.55 on the NSE. The scrip opened at Rs.427.20 & has touched a high & low of Rs.444.00 and Rs.424.05 respectively. So far 85,59,968(NSE) shares were traded on the counter. The current market cap of the company is Rs 1,04,788.07Cr. The NSE/BSE group stock has touched a 52 week high of Rs.679.30 on 06-SEP-2018 & a 52 week low of Rs. 370.20 on 18-JAN-2019.
BEML is currently quoting at Rs. 763.95 down by Rs.-21.25 or -2.71% from its previous closing of Rs.785.20 on the NSE. The scrip opened at Rs.785.00 & has touched a high & low of Rs.799.85 and Rs.755.30 respectively. So far 20,00,379(NSE) shares were traded on the counter. The current market cap of the company is Rs 3,173.31cr. The BSE/NSE group stock has touched a 52 week high of Rs 1,418.55 on 05-MAR-2018 & a 52 week low of Rs 521.25 on 26-OCT-2018.
Share Market News 11-February-2019
The underperformance of Mid Caps Drags Markets, Sensex, Nifty End Lower
Indian Equity Benchmark indices started the week marginally lower, the Nifty was trading around 10,900. Crude prices fell by around 1 percent on Monday as US drilling activity picked up and as Russias biggest oil producer pressured President Vladimir Putin to end the supply cut deal with Middle East-dominated producer club OPEC. sensex was down 53.26 points or 0.15% at 36493.22, while the Nifty declined by 36.90 points or 0.34% at 10906.70. Among sector, the Nifty Auto Indexs 1.2 percent decline. While, the NSE Nifty Media Index was the top sectoral gainer, up 1.16 percent. The Nifty Midcap index was down around 0.20 percent. 312 companies to report Q3 numbers today.
In the afternoon session, Indian markets were trading lower, The Sensex was down by 193.43 points or 0.53% at 36353.05, and the Nifty declined by 73.50 points or 0.67% at 10870.10 Among sector except for media & IT, all sector indices were trading in red led by metal, auto & Pharma. In a Broder Market, NSE mid-cap was down by 1.56% and smallcap indices were trading lower by 1.77%, respectively.
In the last hour of trade, Nifty was trading around 10900 level. Benchmark indices continued to trade under selling pressure for the third consecutive session on Monday.Reliance Industries and ICICI Bank dragged the nifty lower.The Sensex fell 151.45 points to 36,395.03 and the Nifty50 plunged 54.80 points to 10,888.80. Among the sectors compiled by NSE fell, led by the Nifty PSU Bank Index's 1.7 percent decline. While, the NSE Nifty Media Index was the top sectoral gainer, up 1.3 percent. In the broader Market, the NSE MidCap Index was down by 1.67 percent and the NSE SmallCap Index declined by 1.80 percent. Selling pressure continued in the market despite a rebound in the global market as investors turned risk-averse due to the upcoming election. Quarter results have not surprised investors while the scope of a downgrade in earnings further dampened sentiment. Global trade deal and risk of a slowdown in growth continue to give caution while investors remain focused on tomorrow's CPI inflation and IIP data to get some direction
Top Gainers
IOC by 2.39% to Rs 137.00. , TATASTEEL by 2.35% to Rs 479.75, CIPLA by 1.68% to Rs 543.20, TATAMOTORS by 1.53% to Rs 153.00., ZEEL by 1.39% to Rs 404.35.
Top Losers
DRREDDY By -5.59% to Rs 2,615.00, M&M by -4.71% to Rs 650.00, ONGC by -4.09% to Rs 138.25, HINDALCO by -3.11% to Rs 199.50, ULTRACEMCO by -2.95% to Rs.3,453.00.
Analysis Of Top Gainer And Loser
IOC is the top gainer in today's market ,State-owned Indian Oil Corp has emerged as the biggest bidder for city gas licenses in the 10th bid round IOC, the country's top oil refiner and fuel marketing company that is looking to diversify into natural gas distribution business big time, bid for licences to retail CNG to automobiles and piped natural gas to households in 35 out of the 50 cities put on offer for the 10th round and another seven in partnership with Adani Gas.
DRREDDY is the top loser in today's market, The drugmaker received a Form 483 with 11 observations from the U.S. FDA after the inspection of Formulations Manufacturing Plant in Hyderabad, Form 483 is used by the drug regulator to document and communicate concerns discovered during plant inspections.
Key Market News
- India's exports to China has reached $12.7 billion during April-December 2018 on account of growth in shipments of marine products, chemicals, plastics, petroleum products, grapes and rice, the commerce ministry said Friday.
- Bad loans of public sector banks declined by more than Rs 31,000 crore to Rs 8,64,433 crore in the first nine months of the current fiscal as compared to the end of March 2018, the government said Friday.
- Foreign investors have infused close to Rs 5,300 crore in the Indian equity markets in the last six trading sessions, mainly on expectations of higher economic growth. This comes following a pullout of Rs 5,264 crore by foreign portfolio investors (FPIs) in January. Prior to that, they had put in Rs 5,884 crore in the stock markets during November-December 2018.
- SEBI on February 8 issued a new circular related to the physical settlement of stock derivatives. According to the circular, in addition to the existing schedule of stock derivatives, the derivatives on stock meeting the eligibility criteria specified by the regulator will also be physically settled from the new expiry cycle.
- The country's foreign exchange reserves increased by $2.063 billion to $400.24 billion in the week to February 1, on account of rise in foreign currency assets, according to RBI data.
- U.K. Gross Domestic Product (GDP) YoY reported 1.3%
Stocks To Watch
MEGHMANI ORGANICS is on the upside while NOCIL is on the downside.
MEGHMANI ORGANICS is currently quoting at Rs.54.80 up by Rs 6.40 or 13.22% from its previous closing of Rs.48.40 on the NSE. The scrip opened at Rs.48.95 & has touched a high & low of Rs.57.20 and Rs.47.30 respectively. So far 47,57,743(NSE) shares were traded on the counter. The current market cap of the company is Rs 1,412.72Cr. The NSE/BSE group stock has touched a 52 week high of Rs.114.35 on 08-MAY-2018 & a 52 week low of Rs. 42.15 on 06-FEB-2019.
NOCIL is currently quoting at Rs. 123.10 down by Rs.-4.55 or -3.56% from its previous closing of Rs.127.65 on the NSE. The scrip opened at Rs.127.00 & has touched a high & low of Rs.128.00 and Rs.121.50 respectively. So far 2,86,106(NSE) shares were traded on the counter. The current market cap of the company is Rs 2,039.74cr. The BSE/NSE group stock has touched a 52 week high of Rs 232.50 on 18-APR-2018 & a 52 week low of Rs 121.50 on 11-FEB-2019.
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