Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity benchmarks Sensex and Nifty remained in positive territory for the most part of the session and closed over half a per cent higher on Tuesday. S&P BSE Sensex closed 230 points, or 0.56 per cent, higher at 41,209 points while the broader Nifty 50 index settled at 12,110 points, up 79 points, or 0.66 per cent. As many as 22 out of 30 Sensex stocks traded in green, with NTPC as the top gainer, up 2.95 per cent, followed by Maruti, SBI, Bajaj Auto, Power Grid, UltraTech Cement, Axis Bank and RIL. On the other hand, M&M, Bharti Airtel, Nestle India, TCS, Sun Pharma and HUL were among the top laggards on the index.
Barring the Nifty FMCG index, all the sectoral indices ended higher. The Nifty Bank index gained 242 points led by gains in RBL Bank, SBI, IndusInd Bank, Axis Bank and ICICI Bank. However, the Nifty FMCG index lost 114 points dragged by losses in Godrej Consumer Products, Colgate Palmolive, Jubilant Foodworks and Marico. In the broader market, the S&P BSE MidCap index gained 48 points or 0.31 per cent to close at 15,828 points, while the S&P BSE SmallCap index ended at 14,742, down 34 points or 0.23 per cent.
ONGC, Indian Oil Corporation and NTPC were the top three profitable PSUs in 2018-19, whereas BSNL, Air India and MTNL incurred the highest losses for a third consecutive year, according to a survey tabled in Parliament on Monday. The Public Enterprises Survey 2018-19, which maps the annual financial performance of all central PSUs, revealed that the top 10 companies in the red claimed a whopping 94.04 per cent of the total losses made by all the 70 loss-making CPSEs during the year.
The Indian market is continuing its bullish momentum after 2 days of correction. Positive global markets and a fall in crude oil prices led a decent rally in the Indian market. The market ignores the actual outcome of Delhi's results as APP victory was already discounted in the market. The metal sector did well today due to strength in the global market while there was no major loss in any sector. The global cues will continue to dominate in the coming days where the Indian market may outperform due to weakness in crude oil prices, says Santosh Meena, Senior Analyst, TradingBells.
S&P BSE Sensex closed 230 points, or 0.56 per cent, higher at 41,209 points while the broader Nifty 50 index settled at 12,110 points, up 79 points, or 0.66 per cent
Gold exchange-traded funds witnessed a net inflow of Rs 200 crore in January, making it the highest infusion in seven years, as geopolitical tensions in different parts of the globe and slowdown in global economy led investors to opt for the safe-haven. This also marks the third consecutive monthly inflow in gold exchange-traded funds (ETFs). According to latest data available with Association of Mutual Funds in India (Amfi), a net sum of Rs 202 crore was pumped in gold-linked ETFs in January as compared to Rs 27 crore in the preceding month.
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After the retail price growth crossed the RBI’s previous upper benchmark of 6 per cent, the CPI inflation rate in January is further expected to increase to a six-year high level. The retail inflation rate is estimated to be 7.4 per cent, which grew at 7.35 per cent in December and 5.54 per cent in November 2019. The February Reuters poll consensus of more than 40 economists showed India’s annual consumer price inflation is expected to have risen to 7.40 percent in January, a touch above December’s 7.35 percent and the highest since May 2014.
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China, which is the world’s largest smartphone market, is going to witness a setback due to coronavirus outbreak as the mobile phone shipments are likely to drop by as much as 30% in Q1. China, which is the world’s largest smartphone market, is going to witness a setback due to coronavirus outbreak as the mobile phone shipments are likely to drop by as much as 30% in Q1.
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Dixon Technologies:
CMP: 4636, 1Yr TGT: 5500-
Dixon technologies are our top pick in the electronic equipment segment. "Make in India" theme is the key reason for the stellar performance of Dixon Technologies. Synergy with marquee names like Samsung and Xiaomi is also a key factor for the vertical growth of the company. The cost of production is increasing in China where companies are moving from China to India and Dixon technologies is a major beneficiary of this phenomenon and the company has a strong order book for FY20-21. Cut in corporate tax is also boosting the bottom-line of the company.
Share price of GAIL India Limited surged 4.35 per cent on Tuesday morning after the PSU gas distribution company declared strong fiscal third-quarter financial results. GAIL India shares were trading at a price of Rs 127.15 on Tuesday morning, up from its previous close of Rs 121.80.
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Bajaj Finance shares rose as much as 1.24 per cent to hit a 52-week high of Rs 4779.20 apiece on NSE in Tuesday’s trade for the at least second consecutive day. The company has surpassed its previous 52-week high level of Rs 4,734 touched in yesterday’s session. Around 1.30 PM, Bajaj Finance shares were trading 0.89 per cent up at Rs 4,759 apiece. Last month, the company reported its highest ever consolidated net profit at Rs 1,614 crore for the quarter ended December 31.
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Indian Railways prioritises safety of passengers! In a bid to enhance the safety of passengers, Piyush Goyal-led Railway Ministry has taken several significant measures. According to a written reply in Lok Sabha by Piyush Goyal, various steps have been undertaken to prevent accidents on tracks and also to combat low visibility due to foggy weather in winter months.
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Credit and Finance for MSMEs: The Reserve Bank of India (RBI) in 2017 instituted an online bill-discounting platform called The Trade Receivable Discounting System (TReDS) to give routinely cash-strapped MSMEs a way of raising funds by selling trade receivables from corporates. Three TReDS exchanges are licensed currently: Receivables Exchange of India (RXIL), a joint venture of the National Stock Exchange and SIDBI; Mynd Solution’s M1xchange; and A.TREDS, a joint venture of Axis Bank and mjunction services.
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US President Donald Trump will be visiting India between 24 – 26 February with a motive to further strengthen the U.S.-India strategic partnership, and to reinforce the social ties between the two countries. Apart from the strategic importance, one major reason why the US is much important for India is because it is India’s largest trade partner as well. The US accounts for nearly 16 per cent of India’s overall exports while India imports only around 7 per cent of its overall imports from the US, according to the Department of Commerce. This is why India recorded a trade surplus of USD 17 billion in the last fiscal. The large trade and strategic importance keep the country on the top of India’s priority.
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It was a bloodbath on Dalal Street the day the Finance Minister presented her Budget, BSE Sensex tumbled 1,000 points her Bahi-khata failed to impress. However, brokerage firm Sharekhan says it’s not all bad and you can still invest in stocks that will move up aided by some Budget announcements. In its post-Budget analysis of the share market for Financial Express Online, Sharekhan has come up with a list of stocks that you should buy or sell to make the most this year’s Union Budget.
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As Infosys looks to ramp up its Salesforce ecosystem, the Indian information technology giant is set to acquire US-based digital services and consulting firm Simplus in a deal pegged at around $250 million. “This acquisition follows up on Infy’s acquisition of Fluido in Sep 2018, further adding to Infosys’s inorganic push toward enhancing capabilities in the Salesforce ecosystem,” brokerage firm Emkay said on Tuesday. Another brokerage Motilal Oswal also said that the Simplus acquisition will strengthen Salesforce capabilities of Infosys.
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In a relief for common man, the oil marketing companies (OMCs) cut petrol and diesel prices for the sixth day in a row as global crude prices see sustained fall. While petrol prices were cut by 16-17 paise, diesel prices were down by 20-22 paise across the major cities in the country. In Delhi, petrol was seen selling at Rs 71.94, the lowest in nearly 5 months. In Mumbai and Chennai, the petrol prices were at Rs 77.6 a litre and Rs 74.73 a litre, respectively. In Kolkata, petrol retailed at Rs 75.58 a litre on Tuesday.
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GAIL India shares were trading over 4 per cent higher at Rs 127.20 apiece on BSE after the company December quarter results on Monday.
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The Indian rupee opened higher against the US dollar on Monday tracking gains in domestic equities. Around 10.45 AM, the Indian rupee was trading at 71.21 a dollar, up 0.13 per cent as against the previous close of 71.30 against the US dollar. On the year-to-date (YTD) basis, the Indian rupee has weakened by 0.23 per cent. The Indian rupee has touched a high of 71.19 and a low of 71.26.
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As bond yields continue to fall after the monetary policy, foreign portfolio investors (FPIs) have turned bullish on Indian debt having pumped over $1.6 billion into bonds in the last three days of the previous week, the latest Bloomberg data show. It is noteworthy that till early February, FPIs remained net sellers of Indian debt at over $2 billion on a net basis. Even with the recent buying spree, FPIs still remain net sellers of Indian debt, but the figure has come down to $958 million on a net basis.
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Sensex is up 376 points or 0.92 per cent at 41,355 points, and the Nifty jumped 115 points or 0.96 per cent at 12147. All sectoral indices are trading in the green barring the IT index. The Nifty Metal index recouped previous session's losses and is up over 1.25 per cent
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Gold and silver prices were trading lower on Monday, tracking firmer rupee and weak crude oil prices. Gold April futures were trading Rs 227 or 0.56 per cent lower at Rs 40,452 per 10 grams, silver March futures, too, were trading lower at Rs 46,052 per Kg, down Rs 177 or 0.38 per cent on MCX. After climbing to a one-week high in the previous session, gold prices remained steady on Tuesday as the death toll from coronavirus jumped over 1,000 in China.
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Domestic equity markets benchmarks Sensex and Nifty were trading nearly one per cent higher on Monday ahead of Delhi Assembly Elections outcome. the S&P BSE Sensex, reclaiming 41,000-mark, was trading 400 points, or 0.97 per cent, higher at 41,383 points, while the broader Nifty 50 index was ruling at 12,154 points, up 122 points or 1.02 per cent. Foreign institutional investors (FIIs) sold shares worth Rs 184.58 crore, while domestic institutional investors (DIIs), too, sold shares of worth Rs 735.79 crore in the Indian equity market on February 10, provisional data available on the NSE showed.
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Sheela Foam shares jumped 11 per cent to touch intraday high of Rs 1770 apiece on BSE after the company announced December quarter results.
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GAIL shares were trading 3.24 per cent higher at Rs 125.75 apiece on BSE on the back of upbeat December quarter results. The company posted a 12.93 per cent on-year rise in consolidated profit at Rs 2,029.51 crore for the quarter ended December 31.
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Shilpa Medicare shares were trading 8% higher at Rs 430 in the opening deals after the company announced a higher December quarter profit.
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All 30 Sensex stocks were trading in green. ITC and Tata Steel were top gainers, each 2% up, followed by UltraTech Cement, Hero MotoCorp, SBI and Axis Bank.
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S&P BSE Sensex opened 300 points, or 0.75 per cent, higher at 41,285.44 while the broader Nifty 50 index opened with a gain of 91 points, or 0.75 per cent, at 12,122.75. ITC was the top gainer on the Sensex pack, up 2% in the opening deals
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Rupee opens higher at 71.24 per dollar vs Monday's close of 71.30 against the US dollar
Foreign institutional investors (FIIs) sold shares worth Rs 184.58 crore, while domestic institutional investors (DIIs), too, sold shares of worth Rs 735.79 crore on Monday, as per the provisional data available on the NSE.
Hero Motocorp’s (HMCL’s) strong operating performance was driven by lower commodity prices and cost-saving initiatives. BS6 led the volume weakness (op. lev) and rising RM costs should drag margins over the next 2-3 quarters. We marginally upgrade our EPS estimates, but maintain Neutral rating with TP of ~Rs2,690 (~14x Dec’21e EPS+Rs 100/share for Hero FinCorp).
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SUNP reported Q3FY20 results in line with expectations, with revenues 2% below but margins 138bp ahead of expectations. India revenues grew 13% and were the key positive. US business ex Taro was in line. Specialty revenues was up 30% q-o-q led by seasonality and Cequa. We remain positive on the outlook for the specialty business, for which our doc survey suggests $300-mn Ilumya peak sales. With valuations at 15x FY22 PE (15% disc. to peers), we maintain Buy.
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Union Bank of India on Monday reported a 275% year-on-year increase in its profit to Rs 575 crore for the December quarter because of recoveries worth Rs 2,255 crore from three large non-performing accounts. The accounts were: Essar Steel, Ruchi Soya and Prayagraj Power. The bank reported a total income of Rs 10,741 crore, up 12% y-o-y.
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Metropolis’ 3QFY20 revenues grew at a healthy pace of 17%, largely in line with our estimates. Successful execution at newly set-up collection centres remains critical to drive 16-17% revenue growth amid rising competition in focus cities. Valuations at 45X and 39X FY2021/22E EPS remain rich deeming risk reward unfavorable. Metropolis posted a revenue growth of 17% y-o-y in 3QFY20, largely in line with our estimates. Revenue growth was primarily driven by a 14% y-o-y growth in patient volumes along with 2.5% yoy increase in realisations.
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Tata Steel’s (TATA) third quarter result reflects the challenges faced by the industry, with consol EBITDA/tonne of Rs 3,614 dropping to the lowest level in the past 15 quarters due to a sharp decline in steel prices. TATA thus reported a consol PBT loss for the first time in 16 quarters. Given the challenges in the European business, we cut our FY20/21 EBITDA estimates marginally and maintain ‘neutral’ with a target price of Rs 450 (based on SOTP)
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The S&P 500 and the Nasdaq closed at record highs on Monday as Chinese workers and factories slowly returned to business following a Lunar New Year holiday that was protracted by the deadly coronavirus outbreak. Tesla Inc’s stock rose 3.1% after its Shanghai factory resumed production, and iPhone maker Foxconn re-started a key plant in China with 10% of its workforce. The Dow Jones Industrial Average rose 174.31 points, or 0.6%, to 29,276.82, the S&P 500 gained 24.39 points, or 0.73%, to 3,352.1 and the Nasdaq Composite added 107.88 points, or 1.13%, to 9,628.39, as per the Reuters news report
The Indian steel industry is on the threshold of a new chapter in its journey. After nearly 8-10 months of a downward slide in prices with rising prices in major raw materials, iron ore and coking coal, steel prices in India since mid-December 2019 are on the rise. This is in line with what was happening in the global market. As Chinese export offers and domestic prices in China were picking up each day along with increased realisation in raw materials, the sudden shock of coronavirus on the eve of Lunar holidays in China surfaced.
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With GDP forecasts being cut, there’s been deterioration in the corporate credit profile as well with rating downgrades by India Ratings and Research (Ind-Ra) increasing sharply during the April-December period of the current fiscal. The period saw the number of upgrades reducing dramatically, the rating agency said in its report. The quarterly downgrade-upgrade (D-U) ratio rose progressively during April-December in the current fiscal, with a total number of 188 issuer ratings being downgraded against 103 upgrades by Ind-Ra.
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Oil prices rose more than 1% on Tuesday as recent sharp falls have encouraged investors holding short positions to book profits, but the market remains jittery over the Wuhan virus, which has now killed more than 1,000 in China. Brent crude rose 79 cents, or nearly 1.5%, to $54.06 a barrel, while U.S. West Texas Intermediate was up 63 cents, or about 1.3%, to $50.20, as per the Reuters news.
The death toll in China climbed above 1,000, as the World Health Organization (WHO) cautioned that the spread of cases outside of China could be “the spark that becomes a bigger fire” and said the human race must not let the epidemic get out of control, according to the Reuters news report.
In Asian markets, MSCI’s broadest index of Asia-Pacific shares outside Japan inched up 0.1 per cent with the Australian market rising 0.6 per cent and South Korea’s KOSPI lifting 0.7 per cent. Japan’s Nikkei was closed for a holiday.
A total of 295 companies including BHEL, Ballarpur Industries, Atlanta, Arvind Fashions, Chamak Holdings, Cochin Shipyard, D B Realty, Greenply, GNFC, Gic Housing Finance and IDBI are among the companies that will release their quarterly earnings today.
Going forward, the markets would take cues from the last leg of earnings season and global developments on Coronavirus outbreak. On the domestic front, key macroeconomic data like CPI, IIP and WPI this week would be actively tracked by the investors. We continue to maintain our cautious stance at current levels due to lacklustre earnings season and stretched valuations, says Ajit Mishra, VP - Research, Religare Broking Ltd.