Share Market Highlights: Sensex turns green just ahead of closing, Nifty tops 12,700 again; financials trim losses

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Updated: November 13, 2020 4:30:56 pm

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Equity markets pared-off losses and turned green on Friday despite weak global cues. Smallcap indices outperform benchmarks.

sensex, niftyIndian equity benchmark indices ended the first day of the week with gains, even as banking stocks underperformed in a volatile session

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Sensex and Nifty began trading in the red for the second day straight. S&P BSE Sensex opened at 43,298 and moved lower just after the opening bell. The NSE Nifty 50 was below the 12,650 mark. Financials were again bleeding and taking the index lower with itself. IndusInd Bank was the top drag, falling over 2%. Among the gainers were Titan, Sun Pharma, Reliance Industries, HUL, and Asian Paints. Global cues were weak on Friday. Asian peers were trading with losses, mirroring the moves made by their North American counterparts. 

The central government has unveiled another set of stimulus measures just ahead of Diwali. Finance Minister Nirmala Sitharaman on Thursday announced a set of measures that aim at aiding job creation, helping stressed sectors and bringing much needed relief to the covid-hit Indian economy. The Finance Minister highlighted that so far all the measures announced by the government and the Reserve Bank of India amount to Rs 29.8 lakh crore which amounts to 15% of the GDP.

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Highlights

    16:30 (IST)13 Nov 2020
    Sensex, Nifty end with gains; here's what experts make of today's trading session

    Domestic benchmark indices ended Samvat 2076 with gains. S&P BSE Sensex closed at 43,443, gaining 85 points during the day while the 50-stock benchmark NSE Nifty closed at 12,719 points. Small and midcap indices again outperformed the benchmark indices and closed with gains. Financials were among the top drags for the majority of the trading session but some of the banking names recouped losses and turned green helping equity markets closed higher. India Vix fell over 4% to close below the 20 points mark.

    Read full story

    16:25 (IST)13 Nov 2020
    Mukesh Ambani’s RIL to invest $50 mn in Bill Gates’ Breakthrough Energy Ventures

    Mukesh Ambani’s Reliance Industries Ltd will invest $50 million (about Rs 373 crore) in Bill Gates-owned Breakthrough Energy Ventures, a climate change solutions company. RIL informed the stock exchanges that the investment will be made in tranches over the next eight to ten years. The oil-telecom-to-retail conglomerate said that it has “entered into a definitive agreement, for making a capital contribution, up to USD 50 million, in Breakthrough Energy Ventures II, LP (BEV), a limited partnership, newly incorporated under the Delaware State Laws, United States of America.”

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    15:45 (IST)13 Nov 2020
    Check top five pharma stock picks for Diwali 2020; earn upto 26% returns

    Pharma stocks have been shining bright so far this year and by the looks of that glitter is not looking to fade away anytime soon. A slew of measures have been announced that could help India’s pharmaceutical industry emerge as a global player. Domestic pharma players have also set their eyes on the API segment where China has been a dominant player, even a small piece of that cake could help domestic pharma players. Analysts are upbeat on the sector and picking their top bets among some of the leading names in the space. Here are some of the top pharma stocks that analysts recommend.

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    15:45 (IST)13 Nov 2020
    Sensex, Nifty end with gains

    Benchmark indices managed to end the day with gains, trimming all their losses in the dying hours of trade. Sensex closed at43,443 while Nifty ended at 12,719.

    15:15 (IST)13 Nov 2020
    Indices trim losses, turn green

    Sensex turns green just ahead of closing, Nifty tops 12,700 again; financials trim losses.

    14:11 (IST)13 Nov 2020
    More than half of Modi’s Atmanirbhar Bharat 3.0 stimulus package benefits can’t be reaped this fiscal

    Finance Minister Nirmala Sitharaman, on Thursday, announced Atmanirbhar Bharat 3.0 package worth Rs 2.65 lakh crore ahead of Diwali, however, India is expected to reap benefits of less than half of this amount in the remainder of the current fiscal year. An additional total outlay in the range of Rs 70,000 crore to Rs 1.2 lakh crore to be undertaken in the remainder of FY21, out of which Rs 30,000 cr is spent only on fertilizers subsidy, said a report by Care Ratings.

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    13:48 (IST)13 Nov 2020
    Top gainers

    Bajaj Finserv and Bajaj Finance were the only two stocks on Sensex that were trading with gains of over 1%. 

    13:46 (IST)13 Nov 2020
    Top drags on Sensex

    Among the top drags on Sensex at 1:45 PM were Larsen & Toubro, IndusInd Bank, HDFC Twins, and Bharti Airtel. 

    13:35 (IST)13 Nov 2020
    Mutual Funds continue selling RIL, banking shares; SBI, HDFC, ICICI MFs buy these stocks instead

    In the month of October, the majority of the mutual fund houses continued to be overweight on sectors such as capital goods, telecom, and consumer while being underweight in banking and finance along with oil & gas. Financials and RIL were once again some of the most sold stocks by leading fund houses. Although, equity schemes did see an increase in outflows on-month basis but SIPs stabilized at Rs 7,800 crore. The assets under management (AUM) for leading MF houses have also improved from the previous month. Here’s what the leading mutual fund house bought in October.

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    13:17 (IST)13 Nov 2020
    Indian Oil runs at full capacity on demand rebound

    Indian Oil Corp has been operating at 100% capacity since early November as local fuel demand has recovered. IOC has been gradually raising crude runs at its plants, which plunged to about 39% at the beginning of April when a nationwide coronavirus lockdown hit fuel demand.

    ~ HDFC Securities

    13:16 (IST)13 Nov 2020
    PM Modi announces USD one million for COVID-19 ASEAN Response Fund

    Prime Minister Narendra Modi underlines the centrality of ASEAN in India’s Act East Policy, which is a key pillar of the country’s foreign policy and seeks enhancing all kinds of connectivity 10-nation ASEAN grouping. Besides announcing a contribution of USD one million to COVID-19 ASEAN Response Fund, he also reiterated India’ offer of USD 1 billion Line of Credit to support ASEAN connectivity. For digital connectivity, he talked about the organisation of the ASEAN-India Hackathon.

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    12:44 (IST)13 Nov 2020
    Good time to buy gold after recent fall in prices; yellow metal may make new high by 2021

    Gold prices were trading in the positive territory on Friday, tracking positive trend in international spot prices amid fast-rising COVID-19 cases. Analysts suggest that investor focus will now shift to speeches by the presidents of the US Federal Reserve Banks of Chicago and New York regarding monetary stimulus and economic stability later in the day. On MCX, gold December futures were trading firm with 0.17 per cent or Rs 85 gain at Rs 50,685 per 10 gram.

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    12:24 (IST)13 Nov 2020
    Diwali Muhurat stock picks 2020: Buy these 11 stocks in Samvat 2077 for as high as 22% rally

    It is considered auspicious to buy stocks during Laxmi Pujan on Diwali, for which stock exchanges conduct Muhurat trading. This year Muhurat trading will take place on Saturday, November 14, 2020. On the back of economic recovery and encouraging news developments on COVID-19 vaccine, stock markets have mapped an upward trajectory to make new all-time highs. Axis Securities in its Technical Diwali Muhurat Picks has picked 11 stocks and suggests investors buying and accumulating for the potential upside of 15-22 per cent.

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    12:01 (IST)13 Nov 2020
    Love for Domino’s Pizza, Dunkin’ Donuts pushes Jubilant FoodWorks’ share price to all-time high

    Jubilant FoodWorks share price surged 5% on Friday morning, a day after the company reported its July-September quarter earnings. Jubilant FoodWorks, that operates the famous Domino’s Pizza and Dunkin’ Donuts restaurant chains, reported a standalone net profit of Rs 76.9 crore last quarter, up from Rs 75.9 crore recorded in the same period last year. Jubilant said its total income was Rs 836 crore during the quarter, against Rs 1,005 crore in the year ago period. The strong recovery posted by Jubilant FoodWorks has been lauded by analysts. Jubilant FoodWorks’ shares are currently trading at Rs 2,483 per share, an all-time high for the stock.

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    11:22 (IST)13 Nov 2020
    Buy Tata Consumer Products

    "Q2FY21 revenue surged 18.5% YoY to Rs. 2,781cr driven by growth in volume and price realization across the divisions.  EBITDA margin expanded 100bps YoY to 14.4% due to strong product portfolio and low fixed operating costs. PAT rose 33.1% YoY to Rs. 257cr.  Recovery in large economies, synergies from merger, re-opening of its stores, and growth potential in rural market should boost the company performance in near future. We reiterate our ACCUMULATE rating on the stock with a revised target price of Rs. 582 based on 51x FY22E EPS." ~ Geojit Financial Services

    10:59 (IST)13 Nov 2020
    IIP a positive surprise

    "IIP rising to 0.2 percent after six months is a positive sign, indicating that the economy is slowly entering the recovery phase. The October figures would be in the positive territory with improvement in demand during the festive season. However, inflation rate at 7.61 percent in October is indeed worrying. Food inflation rate registered a double digit growth rate of 11 percent, mainly triggered by rising vegetable prices at 23 percent. The supply side issues are bringing pressure on food prices. In such a scenario, RBI might not go for a rate cut in December, and wait till the inflation rate falls back to the comfortable level," said Deepthi Mathew, Economist at Geojit Financial Services.

    10:54 (IST)13 Nov 2020
    Be bullish with stoploss of 12,600 on Nifty

    Nifty Open Interest Put Call ratio is currently at 1.40 level compared to yesterday at 1.66. Amongst the Nifty options (19-Nov Expiry), Call options saw massive built at 12700 level, Indicating this positive move in the Nifty could continue towards 13000 level. On the lower side, support is seen at 12600 levels where we have seen addition in Puts suggesting support around this level.

    To Sum It Up, unwinding positions seen in both Nifty and Bank Nifty, PCR ratio has come down to 1.40 level suggesting market has room to go further up. Therefore, our advise is to be bullish on dips and use any dip to create fresh long positions with the stoploss of 12600 levels.In the Bank Nifty, our advice is to remain bullish with stop loss of 27600 levels.

    ~ HDFC Securities

    10:30 (IST)13 Nov 2020
    Rakesh Jhunjhunwala’s Diwali shopping, stimulus lift realty stocks; Indiabulls Real Estate soars 13%

    Real Estate sector stocks such as Indiabulls Real Estate, Godrej Properties, Sunteck Realty and others were seen surging on Friday morning. The up-move was aided by Finance Minister Nirmala Sitharaman’s announcement that aimed at giving a nudge to the real estate sector with tax sops for homebuyers. Additionally, ace investor Rakesh Jhunjhunwala bought stake in Indiabulls Real Estate which has now pushed the stock 28% higher in just two days. The real estate sector has been languishing amidst a pandemic as risk-averse homebuyers delayed major spending in a tight economic environment.

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    10:12 (IST)13 Nov 2020
    Risk sentiment soured as investors turned focus back to surging cases

    The risk sentiment soured as investors turned their focus back to surging cases, the possibility of fresh restrictions and delay in the passage of second stimulus in the US. The Trump White House is stepping back from stimulus negotiations and it would now be up to the Congress to take it forward. In typical risk-off moves, the US Dollar strengthened against commodity currencies; 10y US Treasury yield fell 9 basis points on safe-haven demand; US equities were down 1-1.5%: Abhishek Goenka, Founder and CEO, IFA Global

    10:08 (IST)13 Nov 2020
    It will be watchful whether RBI continues to buy amid a consistent surge in the inflation

    In a single day, Indian capital markets witnessed foreign inflows of about $1.49 billion and yet rupee remained depreciated. So far, markets have received $ 4.21 billion inflows and seems like RBI is mopping up the same leading to weakness in the rupee where the pair should have ideally being stronger. It will be watchful whether RBI continues to buy amid a consistent surge in the inflation which is running out of its mandate for months. Well, it seems like RBI shall not allow rupee to weaken past 75.00 levels amid the current economic situation therefore, upticks between 74.40-74.80 can be taken for selling and dips between 73.00-73.50 can be utilized to buy as long as the pair stays in 73.00-75.00 range: Amit Pabari, managing director. CR Forex Advisors

    09:58 (IST)13 Nov 2020
    Nifty must cross 12,775 to resume upward move

    "The index has opened on a soft note this morning. It is perfectly acceptable that it needs to cool off after a great run of a 1000 points! In order to resume the uptrend, we would need to cross the intermediate high of 12775 which could lead the Nifty to 13000. There is a good support range between 12100-12300 and as long as we do not break that on a closing basis, we are in safe territory," said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.

    09:30 (IST)13 Nov 2020
    Rakesh Jhunjhunwala's latest pick is on a roll

    Big Bulls Rakesh Jhunjhunwala recently bought shares of Indiabulls Real Estate. The stock jumped 14% yesterday and today again has mirrored the move taking it higher by 28% in just two days.

    09:20 (IST)13 Nov 2020
    In the green zone

    Trading with gains were Titan, Sun Pharma, HUL, RIL and Infosys. Only 8 stocks were in the green among the 30 Sensex constituents. 

    09:19 (IST)13 Nov 2020
    What's pulling Sensex lower?

    Once again financial stocks were trading with losses. HDFC, IndusInd Bank, HDFC Bank, ICICI Bank, and Axis Bank were amogn the top drags. 

    09:17 (IST)13 Nov 2020
    Sensex, Nifty open in the red

    Sensex opened at 43,298 points and soon moved lower, Nifty 50 gave up the 12,650 mark.

    09:16 (IST)13 Nov 2020
    Gold bounced back from recent lows

    COMEX gold trades little changed near $1878/oz after a 1.2% gain yesterday. Gold is range-bound as support from rising virus cases and hopes of additional stimulus measures are countered by mixed ETF activity, signs of progress on the vaccine front and uncertainty about the US fiscal stimulus deal. Gold has bounced back from recent lows but we may see choppy trade amid mixed factors but the general bias may be on the upside amid hopes that central banks may do more to boost economic recovery: Ravindra Rao, VP- Head Commodity Research at Kotak Securities

    09:08 (IST)13 Nov 2020
    It's red in the pre-open session

    Domestic benchmark indices moved lower in the red during the pre-open session on Friday. Sensex was down over 50 points while Nifty 50 was just above the 11,650 mark.

    09:04 (IST)13 Nov 2020
    Sensex, Nifty slip in pre-open

    Sensex and Nifty were down in the red during Friday's pre-open session. Global cues were muted and SGX Nifty was down over 100 points during the early hours of Friday. 

    09:03 (IST)13 Nov 2020
    Sensex trades flat to negative, Nifty in red during pre-open session on Friday

    Sensex was trading flat with a negative bias and Nifty was in the red during the the pre-open session on Friday. Global cues were weak with Asian peers trading with losses. 

    08:48 (IST)13 Nov 2020
    SGX Nifty falls 100 points in early trade on Friday; 5 things to know before market opens

    Headline indices BSE Sensex and Nifty 50 were staring at a negative start on Friday. Market participants will react to India’s retail inflation for October which came in at 7.61 per cent, July- September quarter earnings, oil prices, rupee movement and other global cues. Besides, investors will focus on speeches by the presidents of the US Federal Reserve Banks of Chicago and New York regarding monetary stimulus and economic stability later in the day.

    Read full story

    08:47 (IST)13 Nov 2020
    Put option data

    Most Put OI was placed at 11,000 with 21.8 lakh contracts, followwed by 11,500 strike with 21.42 lakh contracts.

    08:46 (IST)13 Nov 2020
    Massive call writing at 13,500 strike

    2.55 lakh contracts were added to the 13,500 strike. over 1 lakh contracts were added to the 12,900 strike.

    08:44 (IST)13 Nov 2020
    Call option data

    For the November series maximum call open interest is placed at 13,000 strike with 19.74 lakh contracts. This is followed by 14.75 lakh contracts at 13,500 strike. 

    08:41 (IST)13 Nov 2020
    Boost for cement sector

    “FM Nirmala Sitharaman announced Rs. 18,000 crores will be provided over the budget estimates for 2020-21 for Prime Minister Awaas Yojana – Urban (PMAY-U) through additional allocation and extra budgetary resources. This will help 12 lakhs houses to be grounded and 18 lakhs to be completed. It is expected to generate 131 lakh metric tonne cement demand i.e. ~3-4% of cement demand in a year. This will lead to marginally increase in cement demand which will translate into better realisation for the industry. Announcement was positive for the industry especially to cement players catering in the urban markets,” said Keshav Lahoti Associate Equity Analyst, Angel Broking.

    08:34 (IST)13 Nov 2020
    We’re bullish on anything related to consumption story: HSBC India’s Rajat Verma

    India’s consumption story is set for a comeback, and HSBC India will support companies allied to it, Rajat Verma, head – commercial banking, told Shritama Bose in an interview. The RBI’s current account circular is a good step directionally and banks are looking forward to the FAQs on it, he said. 

    Excerpts:

    08:26 (IST)13 Nov 2020
    What has changed for the real estate space?

    “Earlier this year in the Budget, the Government had provided tax relief to home buyers if the agreement value was up to 10% lower than the circle rate. With the softening of prices across markets, this price difference was in excess of 10% in some cases which kept some of the home buyers at bay.  The Government has increased this limit from 10% to 20% for property value within Rs. 2 crore. While this will certainly help the real estate sector liquidate inventory as it brings more home buyers to the fore, the impact will be limited as unsold inventory is highest in Mumbai and NCR markets where properties values are higher than Rs. 2 cr," said Sharad Mittal, CEO & Head, Motilal Oswal Real Estate.

    08:23 (IST)13 Nov 2020
    FM's stimulus could aid infrastructure stocks

    With the boost given to the real estate ssector with top sops, the move could help the spirits of infrastructure related stocks. Some marqee names include, Oberoi Realty, Indiabulls Real Estate, Phoenix Mills, DLF, and Godrej Properties.

    08:19 (IST)13 Nov 2020
    Stocks in focus: RIL, ONGC, Tata Steel, TCS, Indiabulls Real Estate, Grasim Industries, Lakshmi Vilas Bank

    Over 500 listed companies including ONGC, Tata Steel, Equitas Holdings, Eveready Industries, Future Retail, General Insurance Corporation of India, Hindustan Aeronautics, MMTC, Sadbhav Engineering and Sunteck Realty are scheduled to announce their July-September quarter earnings today.

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    08:18 (IST)13 Nov 2020
    Big boost to the real estate sector?

    "The additional allocations under the PM Awas Yojna combined with tax sops for purchase of primary residential units upto Rs 2 crore, significantly reduces the cost of acquiring a new home and provides relief to the real estate sector, which was burdened with high inventory," said Jaspal Bindra, Executive Chairman, Centrum Group.

    08:15 (IST)13 Nov 2020
    Housing finance stocks to be focus today?

    After the Finance Minister's announcements yesterday, stocks such as HDFC, LIC Housing Finance, PNB Housing Finance, CAN Finance, and others saw a sharp uptick. Such names could be in focus today.

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