Diwali Dhamaka Sale on D-Street, Midcap and Smallcap On Offer
Nov 02, 2018 | 12:41 PM IST
Nov 02, 2018 | 12:41 PM IST
Our Analysis
Ahead of Diwali market rebounded strongly from the lower level as Nifty surged over 5% this week amid positive global cues, fall in crude oil price & rupee appreciation. Better than quarter earnings, better auto sales numbers & stock-specific buying helped market rally. Brent crude oil prices fall to $72/barrel which helped oil retailers rally, also rupee gains past $73 on back of easing liquidity issue & easing in IL&FS case.Better quarterly results of Mid-cap & small-cap companies led the strong rally. PSU banks were the buzzing counters this week. The market will be in a rebound mode & positive global cues will lead to strong upside. Indias services PMI, crude oil price, rupee movement & trade war progress will be an event to watch.
This Weeks Market Highlights:
Benchmark Indices:
1. Bulls took control on D-street to start the week on a strong note as Sensex surged 718 points while Nifty back above 10,250.
2. Strong buying among banking & financials, pharma, auto, infra, IT, metals, FMCG & energy stocks boosted the indices. The nifty Midcap index closed over 3% higher.
3. On Tuesday benchmark indices closed on a negative note as Sensex fall 176 points while Nifty closed below 10,200.
4. On Wednesday equity indices ended the October month on a strong note as Sensex surged 551 points & Nifty ended near 10,400.
5. Nifty IT, banking & financials, auto, pharma & FMCG names pushed the indices higher while metal index falls over 1%. The Nifty midcap index surged nearly 2%.
6. On Thursday market closed on a flat to marginal lower note as Sensex fall 10 points while Nifty closed below 10,400.
7. On Friday market had a strong gap up opening paced by gains in oil retailers.
Broader Index & Global Market:
- This week broader market outperformed frontline indices led by Nifty midcap & smallcap which surged 8-10% compared to Nifty 4-5%. On sectoral space Nifty banking & financials, auto, IT, FMCG, metal, media, pharma, realty index surged 4-8% this week especially PSU bank surged over 10%.
- - This week US market rebounded from lower level after October sell-off, strong earnings & amid signs of easing trade tension. European shares also followed global markets in extending a recovery after Octobers sell-off. Asian stocks built on the best weekly rally since September stoked by hopes for trade talks & China stimulus. Brent Crude oil prices fall below $72/barrel on US inventories surge. US fed rate, GBP Q3 GDP, crude oil price & trade war progress will be an event to watch.
Movers & Shakers
Shares of Infrastructure major Larsen & Toubro surged over 15% this week after it reported a 28.36% jump in its consolidated net profit to Rs.2,593.41 crore for the quarter ended September 2018. The company's total consolidated income of the company rose to Rs.32,506.10 cr. in the July-September quarter from Rs.26,846.41 crore in the same period previous fiscal, the company said.
Shares of Dabur India fall over 10% this week after it reported a consolidated net profit of Rs 377 crore, up 4.1% from Rs 362 crore a year earlier which missed the street estimates. Though the domestic volume growth was 8%, still disappointed investors who set higher expectations after the June quarter. Note that in the base September 2017 quarter, volume had increased by 7.2%.
Key Market Drivers
The Nikkei India Manufacturing Purchasing Managers' Index strengthened from 52.2 in September to 53.1 in October as new orders & production increased at the quickest rate in 4 months. The growth of eight Infrastructure sectors slowed down to 4.3% in September, the lowest in the last four months, as the production of crude oil and natural gas declined. Previously the lowest growth rate was in May 2018 when core sectors expanded at 4.1%.
Oil fell to the lowest in more than six months on signs U.S. supply is accelerating & on speculation that American sanctions against Iran wont succeed in reducing exports to zero. Oil tumbled 11% last month, the most since July 2016, as an equity rout & U.S.-China trade tensions concerns over economic growth. Brent for January settlement fell $2.58 to $72.89 on the London-based ICE Futures EU exchange.
Event Watch
Indias Nikkei Services PMI (October) will be on 5th November 2018. Forex Reserve (USD) will be on 9th November 2018.
Q2 FY19 Result:- State Bank of India, Power Grid, GAIL, Cipla, Titan, Bosch, PNB Housing Finance, Voltas, Aditya Birla Capital, Manappuram Finance.
Global:- US Fed. Reserve Rate Decision will be on 9th Nov. 2018. US Markit Composite PMI, Services PMI (October); GBP PMI (October), GDP for Q3, Industrial & Manufacturing Production (September) will be next week.
Stocks To Watch
GNFC Ltd. is on the upside while Advance Enzyme Technologies Ltd. is on the downside.
Share Market News 01-November-2018
First Session of November 2018 Ends On A Flat Note
The Benchmark indices started on a positive note, Sensex rose 150 points while Nifty above 10,400. The equity market erased gains & turned negative as Sensex fall 50 points & Nifty below 10,400. Selling in FMCG, IT & pharma names dragged market while PSU bank, realty, metal & auto stocks traded higher. Nifty midcap index outperformed the market, traded 1% higher.
In the afternoon session market traded very flat as Sensex was up 5 points while Nifty still below 10,400. Nifty IT, pharma & FMCG continued to trade lower while banking & financials, realty & metal traded with gains of 1-2%. The Nifty Midcap index continued to outperform the market, traded 188 points higher.
In the last hour of trade market remained flat to marginal high as Sensex was up 40 points & Nifty near 10,400. The First session of November 2018 began on a subdued note. Banks were the gainers during the session, while infra & metals rose during trade as well. Pharma, IT & consumption names were the big losers in trade today. Nifty midcap index outperformed frontline indices, closed 150 points higher. Sensex closed 10.08 points down at 34,431.97, Nifty down by 6.15 points at 10,380.45.
Top Gainers
Yes Bank by 9.30% to Rs.205.60, Hindalco by 4.88% to Rs.231.15, Axis Bank by 4.26% to Rs.607.20, BPCL by 3.96%to Rs.286.00, UPL by 3.57% to Rs.698.45.
Top Losers
HCL Tech by -3.80% to Rs.1,015.50, Tech Mahindra by -3.21% to Rs.720.00, Dr. Reddy by -3.03% to Rs.2,465.50, Infosys by -2.83% to Rs.667.00, Cipla by -2.12% to Rs.615.90.
Analysis Of Top Gainer And Loser
Yes Bank is the top gainer in today's market on back of a strong volume as strong buying interest was seen in the stock.
HCL Tech is the top loser in today's market after rupee appreciated over half a percent compared to the dollar. In todays session, Nifty IT index dipped over 2%.
Key Market News
The country's manufacturing sector activity improved in October, as firms scaled up production and employment levels amid a strong rise in new business order flows, a monthly survey said on Thursday. The Nikkei India Manufacturing Purchasing Managers' Index strengthened from 52.2 in September to 53.1 in October as new orders and production increased at the quickest rate in four months.
The growth of eight infrastructure sectors slowed down to 4.3% in September, the lowest in the last four months, as the production of crude oil and natural gas declined. Previously, the lowest growth rate was witnessed in the month of May 2018 where the core sectors expanded at 4.1%. During April-September 2018, the core sector growth was 5.5% as against 3.2% in the year-ago period. These eight segments comprise 40.27% of the weight of items included in the Index of Industrial Production (IIP).
Stocks To Watch
PC Jeweller Ltd. is on the upside while Meghmani Organics Ltd. is on the downside.
PC Jeweller is currently quoting at Rs.72.05, up by Rs.13.55 or 23.16% from its previous close of Rs.58.50 on the NSE. The scrip opened at Rs.59.75 & has touched a high & low of Rs.72.35 and Rs.59.00 respectively. So far 3,66,86,810 (NSE) shares were traded on the counter. The current market cap of the company is Rs.2,744.78 Crore. The NSE/BSE group stock has touched a 52 week high of Rs.600.65 on 16-January-2018 & a 52 week low of Rs.46.85 on 26-October-2018.
Meghmani is currently quoting at Rs.61.55, down by Rs.10.60 or 14.69% from its previous close of Rs.72.15 on the NSE. The scrip opened at Rs.70.00 & has touched a high & low of Rs.70.00 and Rs.60.00 respectively. So far 1,14,63,479 (NSE) shares were traded on the counter. The current market cap of the company is Rs.1,570.39 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.129.40 on 07-November-2017 & a 52 week low of Rs.60.00 on 01-November-2018.
Share Market News 31-October-2018
Market End October Month On A Strong Note, Sensex surges 550 points
The Benchmark indices opened higher as Sensex rose 100 points while Nifty above 10,200. As rupee depreciated below 74/dollar, equity market took a beating and turned negative, Sensex fall 100 points while Nifty below 10,200. Selling in banks, auto, FMCG, metal & realty dragged market. While IT & pharma index traded higher. Nifty midcap index outperformed the market, traded 40 points higher.
In the afternoon session market traded higher as Sensex rose nearly 200 points while Nifty above 10,250. Nifty IT, PSU bank, pharma, financials index traded 1-3% higher while metal, auto, media & FMCG index traded lower. The Nifty Midcap index continued to outperform the market, traded 125 points higher.
In the last hour of the trade, bull took control in D-street as Sensex surged 530 points while Nifty eyed 10,400. The market ended the October month on a strong note. A strong surge in IT, banking & financials, auto, pharma & FMCG names pushed the indices higher while metal index falls over 1%. The Broader market also surged higher, with the Nifty midcap index which outperformed frontline indices, surged nearly 2%. Sensex closed 550.92 points up at 34,442.05, Nifty up by 188.20 points at 10,386.60.
Top Gainers
IBULHSGFIN by 8.78% to Rs.836.65, Tech Mahindra by 8.67% to Rs.744.50, UPL by 6.10% to Rs.804.00, HDFC by 5.69%to Rs.1,767.10, HCL Tech by 5.02% to Rs.1,055.30.
Top Losers
Coal India by -3.57% to Rs.266.00, Dr. Reddy by -2.08% to Rs.2,540.35, Tata Steel by -1.85% to Rs.554.05, Hindalco by -1.67% to Rs.220.15, Adani Ports by -1.46% to Rs.317.90.
Analysis Of Top Gainer And Loser
Indiabulls Housing Finance is the top gainer in today's market after the news of PNB Housing Finance raised Rs.2,450 crore through Commercial Papers.
Coal India is the top loser in today's market after the government started selling its 3% stake in the company. The government will sell 3% stake in the company with an oversubscription option of selling an additional 6% stake as an offer for sale to the public.
Key Market News
As the RBI-vs-government spat intensified on Wednesday, the Centre issued a statement asserting that the autonomy of the central bank is essential within the framework of the RBI Act. The governments in India have nurtured & respected the governance requirement, it said in a statement. Multiple media reports on Wednesday said the government has invoked Section 7 of the RBI Act, a law allows it to issue directions to the RBI Governor in matters adhering to the public interest. Both the govt. & the central bank, in their functioning, have to be guided by public interest & the requirements of the economy, it said, adding that the extensive consultations between the two entities are a commonplace.
The Bank of Japan kept monetary policy steady on Wednesday & slightly trimmed its inflation forecasts as global trade frictions clouded the outlook, reinforcing views the central bank is in no rush to trim its massive stimulus programme. But the BOJ issued a slightly stronger warning on financial vulnerabilities than it did 3 months ago, reflecting growing concerns that years of ultra-low rates were hurting bank profits & could discourage them from increasing lending.
Stocks To Watch
Torrent Power Ltd. is on the upside while Jet Airways (India) Ltd. is on the downside.
Torrent Power is currently trading at Rs.258.95, up by Rs.31.20 or 13.70% from its previous closing of Rs.227.75 on the NSE. The scrip opened at Rs.237.60 & has touched a high & low of Rs.260.70 and Rs.233.20 respectively. So far 76,75,539 (NSE) shares were traded on the counter. The current market cap of the company is Rs.12,344.64 Crore. The NSE/BSE group stock has touched a 52 week high of Rs.307.35 on 22-January-2018 & a 52 week low of Rs.211.50 on 01-October-2018.
Jet Airways is currently trading at Rs.217.40, down by Rs.18.60 or 7.88% from its previous closing of Rs.236.00 on the NSE. The scrip opened at Rs.237.00 & has touched a high & low of Rs.243.25 and Rs.210.60 respectively. So far 81,78,819 (NSE) shares were traded on the counter. The current market cap of the company is Rs.2,525.27 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.883.45 on 05-January-2018 & a 52 week low of Rs.162.80 on 01-October-2018.
Share Market News 30-October-2018
Market Resume Decline After One Day Rebound, Nifty End Below 10,200
The Benchmark indices opened lower, Sensex fall 100 points but Nifty hold above 10,200. The equity market turned positive as Sensex rose 50 points while Nifty above 10,250. Barring FMCG all sectoral indices traded in gains led by PSU bank, IT, auto & realty while OMCs traded lower. Broader market outperformed frontline indices led by midcap index, rose over 1%.
In the afternoon session market dragged lower as Sensex was down 70 points while Nifty holds 10,200. Cut in energy, Private banks, metal, pharma & financials dragged market while PSU bank, IT & media index traded higher. The nifty Midcap index continued to outperform benchmark indices, was up 0.8%.
In the last hour of trade market fall further as Sensex fall 150 points while Nifty holds 10,200. The Market closed on a negative note after a day of a big rally. Selling in energy, OMCs, Private bank, metal, pharma & financials dragged market while buying counters are buzzing in PSU bank, IT, media & realty. The Nifty Midcap index outperformed frontline indices, closed 0.7% higher. Sensex closed 176.27 points down at 33,891.13, Nifty down by 52.45 points at 10,198.40.
Top Gainers
Tech Mahindra by 3.12% to Rs.685.00, ZEEL by 2.76% to Rs.443.20, Grasim by 2.75% to Rs.804.00, Dr. Reddy by 2.37%to Rs.2,593, GAIL by 2.31% to Rs.360.25.
Top Losers
HindPetro by -4.77% to Rs.219.50, IndusInd Bank by -4.20% to Rs.1,353.50, BPCL by -4.13% to Rs.265.90, Cipla by -3.80% to Rs.611.00, IOC by -3.64% to Rs.136.30.
Analysis Of Top Gainer And Loser
Tech Mahindra is the top gainer in today's market after its quarterly profit growth met estimates backed by higher margins. Net profit rose 18.5% QoQ to Rs.1,064.3 crore for the quarter ended September. Revenue rose 4.3% on a sequential basis to Rs.8,629.8 crore during the three-month period.
HindPetro is the top loser in today's market after its peer company BPCL presented a weak set of numbers for the quarterly ended July-September 2018.
Key Market News
The U.S. is preparing to announce tariffs on all remaining Chinese imports if talks between presidents Trump & Xi Jinping fail to ease the trade war, three people familiar with the matter mentioned. An early-December announcement of a new product list may coincide with Chinas Lunar New Year holiday as the effective date of this would be after 60-day public comment period from early December.
Japan & India entered into a $75-billion currency swap arrangement that will bolster the countrys firepower as it battles a steep drop in the rupees value. An agreement to this effect was signed during PM Narendra Modis ongoing visit to Japan. India & Japan agreed to enter into a bilateral swap arrangement of $75 billion. This swap arrangement would be 50% higher than our last swap agreement, FM Arun Jaitley tweeted. Japan had offered a $50 billion currency swap in 2013 & before that, one for $3 billion in 2008. This facility will enable the agreed amount of foreign capital being available to India for use as & when the need arises, a govt. official said.
Stocks To Watch
Just Dial Ltd. is on the upside while Hindustan Petroleum Corporation Ltd. is on the downside.
Just Dial is currently quoting at Rs.505.75, up by Rs.49.95 or 10.96% from its previous closing of Rs.455.80 on the NSE. The scrip opened at Rs.467.95 & has touched a high & low of Rs.519.00 and Rs.467.00 respectively. So far 86,65,774 (NSE) shares were traded on the counter. The current market cap of the company is Rs.3,421.72 Crore. The NSE/BSE group stock has touched a 52 week high of Rs.647.00 on 16-January-2018 & a 52 week low of Rs.358.00 on 03-May-2018.
HindPetro is currently quoting at Rs.219.50, down by Rs.11.00 or 4.77% from its previous closing of Rs.230.50 on the NSE. The scrip opened at Rs.227.25 & touched a high & low of Rs.228.50 and Rs.218.35 respectively. So far 58,29,019 (NSE) shares were traded on the counter. The current market cap of the company is Rs.33,577.43 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.466.90 on 30-October-2017 & a 52 week low of Rs.163.00 on 05-October-2018.
Share Market News 29-October-2018
Markets Bounce Back, Sensex Reclaims 34K, Led By Banks
The Benchmark indices started on a good note as Sensex rose 150 points & Nifty above 10,050. The equity market remained higher as Sensex was up 180 points while Nifty above 10,050. All sectoral indices traded in green led by PSU bank, pharma, realty, IT & FMCG while metal index traded flat. Broader market outperformed frontline indices led by midcap index, rose 1.5%.
In the afternoon session market extended gains as Sensex rose nearly 500 points & Nifty above 10,150. The Surge in banking & financials, pharma, auto, realty, IT, metal, FMCG & media index led the rally, traded 1-7% higher. The Nifty Midcap index continued to outperform benchmark indices, surged 2.5%.
In the last hour of trade market gains further as Sensex surged over 600 points while Nifty back above 10,200. An extremely strong day of trade came to close. Strong buying among banking & financials, especially in PSU banks which surged 8%, pharma, auto, infra, IT, metals, FMCG & energy stocks boosted the indices. Nifty Midcap index outperformed frontline indices, closed over 3% higher. Sensex closed 718.09 points up at 34,067.40, Nifty up by 220.85 points at 10,250.85.
Top Gainers
IBULHSGFIN by 12.49% to Rs.769.35, ICICI Bank by 11.34% to Rs.351.45, SBIN by 7.82% to Rs.267.50, Adani Ports by 7.19%to Rs.325.95, Dr. Reddy by 5.29% to Rs.2,531.65.
Top Losers
IndusInd Bank by -2.48% to Rs.1,410, Eicher Motors by -1.77% to Rs.21,420, Kotak Bank by -1.61% to Rs.1,140, HDFC Bank by -1.60% to Rs.1,929.90, Bharti Airtel by -1.44% to Rs.293.65.
Analysis Of Top Gainer And Loser
Indiabulls Housing Finance is the top gainer in today's market as strong buying was seen in the stock. After the steep correction stock is trading higher after reporting a good set of numbers for the second quarter
IndusInd Bank is the top loser in today's market after selling pressure was seen in the stock as it missed the street expectations for the second quarter. Stock hits over 13-month low to hit a fresh 52-week low of Rs.1,375.
Key Market News
The U.S. economy slowed less than expected in the third quarter as a tariff-related drop in soybean exports was partially offset by the strongest consumer spending in nearly 4 years, keeping growth on track to hit the Trump administration's 3% target this year. GDP increased at a 3.5% annualized rate also supported by a surge in inventory investment & solid govt. spending, the Commerce Department said on Friday in its first estimate of third-quarter GDP growth.
Oil traded below $68 a barrel as traders assessed mixed supply signals from producers. Oil has slumped about 12 percent from a four-year high earlier this month as a rout in global equity markets raised concerns about economic growth and energy demand at a time of growing U.S. crude inventories. Brent for December settlement fell 29 cents to $77.33 a barrel on the London-based ICE Futures Europe exchange. The contract climbed 73 cents to $77.62 on Friday. The global benchmark crude traded at a $9.99 premium to WTI.
Stocks To Watch
Adani Power Ltd. is on the upside while Indian Energy Exchange Ltd. is on the downside.
Adani Power is currently trading at Rs.42.05, up by Rs.6.50 or 18.28% from its previous closing of Rs.35.55 on the NSE. The scrip opened at Rs.35.70 & has touched a high & low of Rs.44.10 and Rs.34.35 respectively. So far 9,81,62,778 (NSE) shares were traded on the counter. The current market cap of the company is Rs.16,257 Crore. The NSE/BSE group stock has touched a 52 week high of Rs.47.80 on 08-January-2018 & a 52 week low of Rs.15.15 on 02-July-2018.
IEX is currently trading at Rs.153.60, down by Rs.6.45 or 4.03% from its previous closing of Rs.160.05 on the NSE. The scrip opened at Rs.161.90 & has touched a high & low of Rs.162.00 and Rs.150.40 respectively. So far 15,55,495 (NSE) shares were traded on the counter. The current market cap of the company is Rs.4,609.95 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.178.00 on 05-September-2018 & a 52 week low of Rs.140.20 on 07-March-2018.
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