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Economic Times | 06 Feb, 2019 | 08.35AM IST

Traders’ Diary: All eyes on RBI money policy meet

Domestic equity benchmarks Sensex and Nifty eked out gains on Tuesday to extend their winning streak into the fourth consecutive session.

!1 New UpdateClick here for latest updates
07:09 PM

Nifty struggles ahead of 11,000 levels, which happens to be the upper band of the current non-trending phase. Though the near-term measures are positive, it lacks to the overall support in terms of participation, therefore one needs to be careful. Traders should strictly adhere to their stop loss at this point in time

- Arun Kumar, Market Strategist, Reliance Securities

07:08 PM

FII-DII Data

FIIs net buy Rs 420.65 crore and DIIs net buy Rs 194.31 crore in equities today (provisional)
06:15 PM

Nifty continued to form higher lows for the fifth consecutive session and closed with a gain of around 20 points. Nifty managed to hold above 10,880 level for the entire day and formed a small bullish candle on the daily scale. Now, it has to hold above 10,880 to extend its move towards 10,985 and then start a fresh leg of rally towards 11,080 then 11,176 levels, while on the downside support exists at 10,777 level.

- Chandan Taparia, Technical & Derivative Analyst, MOFSL

06:00 PM

Govt to make additional borrowing of Rs 36,000 crore in FY19

he government has decided to raise additional Rs 36,000 crore through dated securities to fund its expenses during the current financial year. As per the calender issued previously, the last tranche for borrowing through government bonds was to complete in the week ending March 8, 2019.
04:56 PM

We expect market to remain rangebound and volatile in the coming sessions. The participants would keep an eye on the balance Q3FY19 earnings season and the RBI’s Monetary Policy, which will provide near-term direction to the market. Globally, US-China trade talks, crude oil price and INR-USD movement would be closely tracked by the investors, as it would induce high volatility in the coming sessions. Investors’ focus should remain on fundamentally sound companies with strong financials and healthy prospects

- Jayant Manglik, President, Religare Broking

04:39 PM

Stock specific movement continue to dominate the market trend, as Titan and Dr Reddy’s were up by over 3 per cent after reporting good numbers for Q3FY19. Volatility is likely to remain high in the coming sessions as investors will await the outcome of RBI Monetary Policy review meeting on Thursday, and also keep an eye on earnings numbers

- Satish Kumar, Senior Research Analyst, Choice Broking

04:29 PM

The daily price action has formed a small bullish candle carrying either side shadows, indicating lack of strength on either side. However, it has formed a higher High-Low formation compared to the previous session indicating a positive bias. With previous session's high (10,956), Nifty is approaching towards its earlier multiple supply zone of 10,950-10,980 levels, any decisive breakout above this will signal strength towards 11,200 levels. For the day, 10,900 is an immediate intraday support zone and violation of this will cause profit taking towards 10,860-10,820

- Rajesh Palviya, Head – Technical & Derivatives Analyst, Axis Securities

04:29 PM

We continue to remain selective. Oil prices having cooled off from recent highs. We do not expect Reserve Bank of India to rush into rate cuts and the regulator is likely to prefer to retain a ‘pause’ on interest rates. However, the stance could be revised to ‘Neutral’ as against ‘calibrated hikes’ as of now. We continue to maintain a cautious view on the NBFC sector post the ILFS crisis. Advise investors to stay away from high debt companies and companies with corporate governance issues. We continue to prefer consumption as a theme and expect double digit volume growth to sustain. We like names such as Hindustan Unilever, Britannia Industries

- Hemang Jani, Head - Advisory, Sharekhan

04:28 PM

Market was volatile and faced stiff resistance at 10,950 levels. However, investors got bargaining opportunity in auto and private banks post January auto sales and in expectation of dovish RBI monetary policy

- Vinod Nair, Head of Research, Geojit Financial Services

03:33 PM

CLOSING BELL: Sensex gains for 4th day, ends 34 pts up; Nifty settles at 10,934; Rel Power plunges 30%, Suzlon 24%

CLOSING BELL: Sensex gains for 4th day, ends 34 pts up; Nifty settles at 10,934; Rel Power plunges 30%, Suzlon 24%
03:11 PM

Tweet of the day!

03:04 PM

What do you think will be the outcome of RBI's money policy review?

02:55 PM

GAIL reports 33% YoY jump in Q3 profit at Rs 1,681 crore

GAIL reports 33% YoY jump in Q3 profit at Rs 1,681 crore
02:05 PM

BHEL Q3 profit jumps 25%, but stock down 11%

State-run Bharat Heavy Electricals (BHEL) reported a 25.30 per cent year-on-year (YoY) and 3.66 per cent quarter-on-quarter (QoQ) jump in standalone profit at Rs 191.95 for the quarter ended December 31. Analysts in an ET Now poll had projected a profit of Rs Rs 239 crore.
01:45 PM

These stock scaled 52-week lows on NSE

Price as on 05 Feb, 2019 01:45 PM, Click on company names for their live prices.
01:26 PM

Quote of the day!

Quote of the day!
01:13 PM

Buzz in the market: ADAG may try to monetise in RCap/ Rel Nippon AMC/ Rel Infra

12:09 PM

Fiscal slippage for two consecutive years credit negative: Moody's

Moody's Investors Service Tuesday said that fiscal slippage from the budgeted targets for the past two consecutive years and tax cuts and spending ahead of the general elections, is credit negative for India.

In the interim budget for 2019-20, the government proposed to increase spending to provide income support for small farmers and introduce a middle-class tax cut in the run up to the general election between April and May. (Source: PTI)
12:02 PM

TechM Q3 results today: Analysts on what to expect

Tech Mahindra (TechM) is scheduled to report its third quarter earnings on Tuesday. The IT major is expected to report 2.5-2.8 per cent sequential rise in revenues in constant currency (CC) terms. Updates on LCC (network services) and growth recovery in the enterprise business (healthcare), TCV (total contract value) wins in telecom vertical and scope of work related to 5G roll-out will be keenly followed.
11:49 AM

RCom stock slumps further, down 24%

Shares of Anil Ambani-owned Reliance Communications plunged further on Tuesday, after its move to file for bankruptcy. In mid-day trade, the company's stock slumped 24.2 per cent to Rs 5.72 on BSE.

RCom has fallen 86 per cent in the past three years. On Monday, Anil Ambani group stocks collectively lost Rs 6,300 crore in market capitalisation: Reliance Power sank 35 per cent to Rs 17.10, Reliance Naval and Engineering declined 14.7 per cent, Reliance Infra slipped 14.9 per cent, Reliance Home Finance fell 12.7 per cent and Reliance Nippon dropped by 3.3 per cent.
11:09 AM

Ahead of Q3 earnings, HPCL extends losing streak

  • Shares of Hindustan Petroleum Corporation traded in negative territory in Tuesday's session, ahead of its December quarter earnings. With this, the stock has extended its losing streak into the third successive session.

  • Brokerage Elara Capital expects the PSU to report a 94.4 per cent year-on-year (YoY) and 90 per cent quarter-on-quarter (QoQ) fall in its net profit for the third quarter.
11:06 AM

55 stocks look ready to rally, shows MACD

Over 50 stocks on NSE look set to rally in the coming days, technical indicator MACD suggests.

This, when NSE benchmark Nifty50 is facing strong resistance near the 10,985 mark. Analysts see higher chances of the index moving towards the lower end of the 10,800-11,000 range in the coming days.

Data suggests 55 stocks have showed an upward bias on NSE, as suggested by momentum indicator moving average convergence divergence, or MACD.
11:05 AM

Top 10 BSE gainers

Price as on 05 Feb, 2019 11:05 AM, Click on company names for their live prices.
10:50 AM

PNB shares jump 5% ahead of Q3 numbers

Shares of Punjab National Bank jumped nearly 5 per cent in Tuesday's session ahead of its December quarter earnings. The stock traded in the green zone despite many brokerages expecting the bank's number to be subdued. Brokerage Kotak Institutional Equities is expecting the bank to report losses for the third quarter.

10:25 AM

Moody's downgrades Bharti rating, outlook negative

Moody's has downgraded the senior unsecured rating for Bharti Airtel to Ba1, or junk, from Baa3 as well as the backed senior unsecured notes issued by Bharti's wholly owned subsidiary, Bharti Airtel Int'l (Netherlands) BV.

Moody’s has assigned a Ba1 corporate family rating (CFR) to Bharti and withdrawn the company's Baa3 issuer rating. The investors’ service company in a statement on Tuesday said that its ratings outlook is negative.

The Airtel stock was down 3.6 per cent at Rs 295.65 in early trade on the BSE.
Moody's downgrades Bharti rating, outlook negative
10:19 AM

IDBI Bank extends losses post weak Q3 earnings

Shares of IDBI Bank extended losses in Tuesday's morning session as the bank's losses widened nearly threefold to Rs 4,185.48 crore for the third quarter ended December 2018, as bad loans surged.

The scrip hovered at Rs 48.80, down 3.65 per cent at around 09:50 am while the benchmark BSE Sensex was down 0.04 per cent at 36,568.52.

The IDBI Bank stock had plunged nearly 6 per cent after the company had announced its Q3 results yesterday. The stock had slipped 4.07 per cent to close at Rs 50.65 on BSE.
09:57 AM

Jubilant FoodWorks slips 3% after NAA fine

  • Jubilant FoodWorks slipped over 3 per cent on NAA fine.
  • The company was fined Rs 41.42 crore for not passing on the benefit of a reduction in GST to consumers.
  • The company has been asked to deposit the amount with the government.

09:47 AM

Rupee advances 10 paise to 71.70 against US dollar

The rupee on Tuesday opened 10 paise higher at 71.70 against the US dollar ahead of the next meeting of RBI's Monetary Policy Committee scheduled during February 5-7. The local currency on Monday dropped by 55 paise to close at 71.80 against the greenback. “We expect the US$INR to find supports at lower levels. Utilise downsides in the pair to initiate long positions,” ICICI Securities said in a report.
09:23 AM

ETRadio: MSCI's new math, PSU stake sale, Mallya extradition & more

09:23 AM

Check out the most active stocks on NSE

Price as on 05 Feb, 2019 09:23 AM, Click on company names for their live prices.
09:19 AM

OPENING BELL: Sensex gains 50 pts, Nifty flat; PNB jumps 2%, Bharti Airtel drops 3%

OPENING BELL: Sensex gains 50 pts, Nifty flat; PNB jumps 2%, Bharti Airtel drops 3%
09:12 AM

Top buy, sell, hold ideas from D-Street experts

09:11 AM

Pre-open session: Sensex gains 30 points, Nifty tests 10,950; rupee opens at 71.10 against US dollar

08:16 AM

Singapore trading sets stage for a flat start

Nifty futures on the Singapore Exchange were trading 6 points, or 0.05 per cent, lower at 10,942, indicating a flat start for the Nifty50.
08:16 AM

Nifty forms bullish candle

The index formed a bullish candle on the daily chart, with a long lower wick, reflecting smart buying that emerged in midway through the day near the 10,800 level. Upside, if any, would be limited, analysts said. Keep an eye on the 10,985-11,000 range, they said.
08:16 AM

MSCI’s new math may trigger stock selling

MSCI said it will seek to exclude the shares being offered through global and american depository receipts while calculating foreign ownership limits. This change could lead to a $12 billion selloff with blue-chip stocks such as Tata Motors, L&T, ITC and Dr Reddy’s Labs taking a hit. The overall weight of India in the MSCI EM index is expected to fall by 25 basis points to 8.55 per cent if the proposal goes into effect.
08:16 AM

Crude prices edge up

US oil prices inched up on Tuesday, buoyed by expectations of tightening global supply amid US sanctions on Venezuela and production cuts led by OPEC, Reuters reported. US WTI crude futures were at $54.73 per barrel, up 16 cents from their last settlement.
08:15 AM

Asian stocks see tepid start

Japan’s Nikkei rose 0.4 per cent before erasing gains while MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.3 percent, Reuters reported. Elsewhere in Asia, trade was light, with markets in greater China, South Korea, Singapore and Indonesia are all closed for the Lunar New Year.
08:15 AM

Japan's January PMI rises to 51.6

The Markit/Nikkei Japan Services Purchasing Managers Index (PMI) rose to a seasonally adjusted 51.6 in January from 51.0 in December. The index remained above the 50 threshold that separates contraction from expansion for the 28th month.
08:15 AM

US stocks climbed in overnight trade

The Dow Jones Industrial Average rose 175.48 points, or 0.7 per cent, to 25,239.37, the S&P 500 gained 18.34 points, or 0.68 per cent, to 2,724.87 and the Nasdaq Composite added 83.67 points, or 1.15 per cent, to 7,347.54.
08:15 AM

TechM, BHEL to report Q3 results

Tech Mahindra, BHEL, GAIL, HPCL, ACC, DLF, Marico Apollo Tyre, Reliance Infra, Dish TV, Sobha, CESC, Usha Martin, Future Enterprises, United Bank and Trent are among companies set to announce their December quarter results on Tuesday.
08:14 AM

Govt ask HPCL to acknowledge ONGC as promoter

The government has directed Hindustan Petroleum to acknowledge ONGC as a promoter in regulatory filings in a move aimed at ending the year-long slugfest between the two companies that has obstructed synergy gains from the Rs 37,000-crore acquisition deal, according to sources familiar with the matter.
08:14 AM

DHFL, Prudential consider exiting JV

Crisis-ridden Dewan Housing Finance and US-based financial services major Prudential Financial are looking to sell their respective stakes in the domestic life insurance joint venture, DHFL Pramerica Life Insurance Company.
08:14 AM

Jubilant FoodWorks fined Rs 41 cr by NAA

The National Anti-Profiteering Authority (NAA) has fined Jubilant FoodWorks, which operates the Domino’s Pizza chain in India, Rs 41.42 crore for not passing on the benefit of a reduction in the goods and services tax (GST) to consumers. The company has been asked to deposit the amount with the government.
08:14 AM

IDBI Bank Q3 losses widen

IDBI Bank’s December quarter losses nearly tripled as the bank accelerated provisions on bad loans for some accounts particularly from the power sector which are not expected to be recovered any time soon.
08:13 AM

Bill Gross retires after 4-decade career

Bill Gross, who reigned for decades as the Bond King at Pacific Investment Management, is retiring more than four years after jumping to Janus Henderson Group from the fixed-income giant he co-founded.
08:13 AM

FIIs sell Rs 112 crore worth of equities

Foreign portfolio investors (FPIs) sold Rs 112 crore worth of domestic stocks on Monday, data available with NSE suggested. DIIs were net sellers to the tune of Rs 65 crore, data suggested.
08:10 AM

Sensex on Monday

The Sensex closed the day 113 points or 0.31 per cent higher at 36,583 while NSE Nifty settled the day at 10,912, up 19 points or 0.17 per cent. Among Sensex stocks, only 12 ended the day in the green while 18 in the red.
08:09 AM

Good morning, dear reader! Here's something to kickstart your trading day

Good morning, dear reader! Here's something to kickstart your trading day
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