The BSE Sensex and NSE Nifty swung between gains and losses on Friday and finally concluded the session in green on buying in last leg of the trade. Sensex closed 59.93 points up at 23,709.15, while Nifty settled 19 points up at 7,210.75.
In the 50-share index, Punjab National Bank, State Bank of India, Hero MotoCorp, Bosch, Asian Paints gained between 2.45 per cent and 4.90 per cent. On the other hand, BPCL, Maruti, BHEL, Vedanta and Coal India slid between 1.65 per cent and 3.25 per cent.
Sectorwise, the BSE Telecom index gained the most — 1.44 per cent, followed by BSE Auto index (up 0.87 per cent), BSE TECk index (up 0.56 per cent) and BSE Power index (up 0.41 per cent). On the other hand, BSE Oil & Gas index and BSE Capital Goods index declined 1 per cent and 0.16 per cent, respectively.
Investors took comfort from with Moody’s Investors Service stating that Indian economy will grow at 7.5 per cent in 2016 and 2017 as it is relatively less exposed to external headwinds, like China slowdown, and will benefit from lower commodity prices.
Gaurav Jain, director, Hem Securities, said, “Markets closed on a strong note extending Thursday’s gain on the back of firm European markets. Renewed buying interest by the foreign portfolio investors after long period of time and recovery in global commodity prices boosted the sentiment of the investors.”
In a scrip specific development, shares of Shriram EPC surged over nearly 18 per cent on Friday after the company informed stock exchanges that it has bagged contracts worth over Rs 438.05 crore. The first order is for road contract worth Rs 301.05 crore has been bagged from the State of Chhattisgarh for executing road works of 50 km under the NHDP-IV on engineering, procurement and construction basis (EPC) to be completed over 24 months.
State Bank of India share price surged over 3 per cent after the lender issued 30,000, Basel III compliant, Tier-II bonds in the nature of debentures, of face value of Rs 10,00,000 each at par, with 10 year tenure, bearing 8.45% per annum coupon and with call option after 5 years, aggregating to Rs 3,000 crore on private placement basis.
Asian markets ended mostly lower on Friday, as a rally in oil prices reversed. The Organisation for Economic Co-operation and Development (OECD) cut its global growth forecasts and the minutes of the European Central Bank’s January meeting showed growth and inflation risks are on the rise in the euro area, too weighed on Asian shares. Japanese shares ended lower on the yen’s appreciation that triggered selling of export-linked issues amid weak sentiments brought by declines in the overnight US market. China’s shares inched down as the People’s Bank of China said it would intervene daily to influence the money supply. Hong Kong stocks tracked global markets lower as energy shares pulled back.
|Asian Indices||Last Trade||Change in Points||Change in %|
Data Source: Ace Equity
Markets through the day
3.30 pm: Sensex closed 59.93 points up at 23,709.15, while Nifty settled 19 points up at 7,210.75.
Nifty 50 – Top 5 Gainers/ Losers
2.50 pm: Meanwhile, Nomura said the Union Budget 2016 to be positive and expansionary for growth. The fiscal consolidation process over the past couple of years has entailed lower subsidies, expenditure cuts, not allowing pass-through of windfall oil gains and reduced central support to various schemes. This has adversely affected growth. The 2016 budget will be a better budget from this perspective. The government will present its budget on 29 February.
On taxes, Nomura expects an increase in the services tax rate to 16 per cent from 14.5 per cent and a reduction in the corporate tax rate to 29 per cent, from 30 per cent, alongside lower exemptions.
2.36 pm: Sensex was up 110 points at 23,759. Nifty was trading 31.45 points up at 7,223.20. The BSE Midcap index was trading 0.10 per cent down at 9804.86. However, the BSE Smallcap index was up 0.21 per cent at 9,881.23.
2.21 pm: Sensex was up 25 points at 23,674. Nifty was trading 3.05 points up at 7,194.80. Bharti Airtel has unveiled its high speed 4G services in Kakinada, in the Andhra Pradesh state. Thus, Kakinada has became the first town in the state to get Airtel’s 4G services and the company will expand its 4G network in other parts of the state in the months to come. Shares of Bharti Airtel were trading 1.56 per cent up at Rs 326.20.
2.06 pm: BSE Oil & Gas and BSE Telecom were trading 1.26 per cent down. Sensex was down 2.28 points at 23,646.94.
1.42 pm: Textile stocks were reeling under pressure despite the government expectation of Rs 30,000 crore investment in 74 textile parks and is plans to announce a new textile policy by April this year. Minister of State for Textile Santosh Gangwar has said that we are mainly focusing on manufacturing of value-added products and export-oriented goods that will benefit the economy. On the flip side, airline stocks are flying higher after most of them reported higher passenger load in January. The broader indices too were trading choppy, while the market breadth on the BSE was negative. Sensex was down 24 points at 23,624.
1.28 pm: Sensex was down 73 points at 23,575. Nifty was trading 23.70 points down at 7,168.05. Fortis Healthcare shares were trading 11.91 per cent up at Rs 175.20. In a clarification to stock exchanges, Fortis Healthcare informed BSE that it is in the process of facilitating a third party exit for the existing private equity investors in SRL ltd. The process is on going and the company is in dialogue with number of investors who have expressed their keenness to participate in the said process. However, as on date, there is no firm proposal under consideration of the management.
Fortis Healthcare share price movement
1.06 pm: Domestic oil stocks fell as oversupply woes hit global crude prices. Cairn India, Bharat Petroleum, Hindustan Petroleum, Indian Oil down between 1 per cent and 4 per cent.
12.56 pm: The market breadth on BSE was negative, out of 2337 stocks traded, 974 stocks advanced, while 1227 stocks declined on the BSE. Sensex was down 80 points at 23,568. Nifty was down 26.95 points at 7,164.
12.24 pm: Larsen & Toubro (L&T) shares gained as much as 1.7 per cent on Friday after it informed BSE that its construction arm has bagged orders worth Rs 1,404 crore across various businesses. Under Power Transmission & Distribution business, the company has secured orders worth Rs 1,014 crore. A major order has been received for an electrification upgradation work in the Middle East from a prestigious customer. Another additional international order has also been bagged by Larsen & Toubro (Oman) LLC, a subsidiary of Larsen & Toubro, for an additional third and fourth transformer unit of 132/33KV, 125 MVA at Madinat Barka and Al Khadra Grid Stations from Oman Electricity Transmission Company. Under Heavy Civil Infrastructure Business, it has bagged an additional order worth Rs 390 crore from an ongoing metro job in the international-market.
11.56 am: KNR Construction shares surged over 2 per cent after the company announced that it has received order worth of Rs. 295.19 crores. Sensex was down 1.62 points at 23,647 .
11.29 am: Atul has picked up an additional 49 per cent stake in Anchor Adhesives, owner of the Polygrip brand for a cash consideration of Rs 80.27 lakh. It increased the stake in the resins and adhesives manufacturer to 98.99 per cent making it a subsidiary of Atul. Shares of Atul Ltd were trading 2.18 per cent up at Rs 1395. Sensex was up 20 points at 23,669. Nifty was trading 6.80 points up at 7,198.
Atul Ltd share price movement on BSE
11.01 am: Sensex was marginally up 15 points, or 0.06 per cent, at 23,667. Nifty was trading 1.25 points down at 7,190. The BSE Oil & Gas index and FMCG index were trading down by 0.97 per cent and 0.29 per cent.
10.42 am: Benchmark indices turned flat. Sensex was trading 8.41 points down at 23,640. Nifty was down 4.95 points at 7,186.
10.39 am: Quick Heal Technologies shares which listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on Thursday were trading 0.65 per cent down at Rs 252.80. Quick Heal share price fell over 20 per cent on debut.
Quick Heal share price movement on Friday
10.31 am: Crude oil prices of Indian basket increased to Rs 2,182.01 per bbl on Feb 18 as compared to Rs 2,050.06 per bbl on Feb 17. Rupee closed stronger at Rs 68.49 per dollar on Thursday against Rs 68.59 per dollar on Wednesday.
Crude Oil and Rupee
10.27 am: Brokers said that apart from profit-booking in recent gainers, a weak trend at other Asian bourses tracking overnight losses in the US dampened sentiment. Sensex was down 53 points at 23596. Nifty was trading 16.25 points down at 7,175.50.
10.15 am: Ruchi Soya shares were trading 5.71 per cent higher at Rs 25 in the morning trade. Sensex was down 49 points at 23,600. Nifty was trading 16.35 points down at 7,175.
Ruchi Soya Graph
10.11 am: Indian forex and money markets are closed on Friday on account of ‘Shiv Jayanti’. The Indian rupee ended almost flat at 68.46 against the US currency after touching a fresh 30-month low of 68.58 in intra-day trade on Thursday in a volatile trade.
9.53 am: Blue Star is targeting to attain 12 per cent market share in room ACs in FY2016-17 with the launch of its new star-rated inverter air-conditioners. The company also caters to export market generating an export revenue of Rs 200 crore and this share would be increased to Rs 600 crore in three years. Shares of Blue Star were trading 0.13 per cent up at Rs 335. Sensex was down 22 points at 23,626.
9.48 am: According to the data released by the NSE, the Foreign Institutional Investors (FIIs) were net sellers of Rs 331.93 crore in index futures and options segments, as per Thursday’s data, February 18, 2016. FIIs were net buyers of index futures to the tune of Rs 442.53 crore and they sold index options worth Rs 774.45 crore. In the stock segment, FII’s were net buyers of stock futures worth Rs 690.89 crore, while they sold stock options worth Rs 95.07 crore.
9.43 am: Sensex was down 25.64 points at 23,623. Nifty was trading 9.45 points down at 7,182.30.
9.35 am: Stocks of Jet Airways were trading 2.67 per cent up at Rs 556.70 after reports that UAE-based Etihad Airways, which has 24 per cent stake in Jet Airways, is likely to raise it to 49 per cent, the maximum possible for foreign carriers to have in a domestic scheduled passenger airline.
9.31 am: S&P BSE Sensex components in the early trade.
9.27 am: Shares of Shriram EPC surged over 10 per cent in the early trade on Friday. The company has bagged contracts worth over Rs 438.05 crore. The first order is for road contract worth Rs 301.05 crore has been bagged from the State of Chhattisgarh for executing road works of 50 km under the NHDP-IV on engineering, procurement and construction basis (EPC) to be completed over 24 months.
9.23 am: Nifty Top Gainers Losers
9.17 am: The BSE Sensex was trading 98.36 points down at 23,550.86. Nifty was down 44.20 points at 7,147.
9.16 am: The 30-share index slipped over 100 points after opening flat.
9.15 am: Benchmark indices opened on a flat note on Friday. Sensex opened 8.9 points down at 23640.32.
8.43 am: Domestic equity markets are likely to open in negative on Friday tracking Nifty futures on the Singapore Stock Exchange (SGX Nifty) and bleak global markets. At 8.30 am (IST), SGX Nifty was down 16 points, or 0.22 per cent, at 7,166.
Asian stock markets slipped from near three-week highs hit earlier this month on Friday, as a rally in oil prices paused and investors remained cautious about the outlook of the global economy. Hang Seng, Nikkei and Shanghai were down 0.43 per cent, 2.23 per cent and 0.29 per cent, respectively.
Wall Street edged lower on Thursday as Wal-Mart shares dragged on major stock indexes after a lackluster earnings report and investors locked in gains after a three-day rally.
Benchmark index BSE Sensex rallied 267.35 points to a one-week high of 23,649.22 on Thursday due to across-the-board buying led by IT and healthcare stocks, in line with a firming global trend.
Similarly, the 50-share NSE Nifty after testing the crucial 7,200-mark, advanced to touch a high of 7,215.10, before settling 83.30 points or 1.17 per cent higher at 7,191.75 on Thursday.
Shares of Jindal Steel and Cairn India will remain in focus on Friday. Naveen Jindal-led Jindal Steel and Power Ltd (JSPL) is in talks with banks for various financing options including the RBI’s 5/25 scheme.
Cairn India, subsidiary of UK-based Vedanta group, cannot be allowed to export excess crude from its Rajasthan oil field as it is a policy to ensure that there can be no export till domestic demand is met, government told the Delhi High Court on Thursday.
(With agency inputs)