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Economic Times | 18 Apr, 2019 | 07.33PM IST

Traders’ Diary: Nifty to consolidate further

Heavy losses in bank stocks weighed on the domestic bourses, as benchmark indices snapped four-day winning run.

!1 New UpdateClick here for latest updates
07:24 PM

Reliance Jio Q4 profit surges 65% YoY to Rs 840 crore; Apru falls to Rs 126.2

Reliance Jio Infocomm, telecom arm of Reliance Industries, on Thursday posted 64.70 per cent rise in profit at Rs 840 crore against Rs 510 crore last year. The figure was up 1.10 per cent on a quarter-on-quarter basis. Operating revenue of the company jumped 55.80 per cent YoY and 7 per cent QoQ to Rs 11,106 crore during the quarter under review.
Reliance Jio Q4 profit surges 65% YoY to Rs 840 crore; Apru falls to Rs 126.2
06:41 PM

Reliance Q4 profit rises 10% to Rs 10,362 crore, beats Street estimates

Oil-to-telecom major Reliance Industries (RIL) on Thursday said its fourth quarter profit rose 9.79 per cent year-on-year (YoY) to Rs 10,362 crore. Analysts in an ET NOW poll had projected a net of Rs 10,000 crore. India’s biggest company in terms of market capitalisation had posted a profit of Rs 9,438 crore in the corresponding quarter last year.
Reliance Q4 profit rises 10% to Rs 10,362 crore, beats Street estimates
06:18 PM

JUST IN

- Reliance Q4 profit at Rs 10,360 crore; revenue at Rs 1.38 lakh crore

05:46 PM

Nifty formed a Bearish Belt Hold or Dark Cloud Cover pattern on the daily scale, while small bullish candle on the weekly chart. However, Nifty has been making higher highs higher lows from the last four trading sessions, and till it holds above 11,720, it can extend momentum towards 11,888. On the downside, support is seen at 11,666 and then 11,550

- Chandan Taparia, Technical & Derivative Analyst, MOFSL

05:24 PM

The Nifty as per weekly time frame chart has formed a small bull candle with long upper shadow, which signals an emergence of profit booking at the highs. The resistance of previous swing high of 11,761 is intact as per closing, after a failed intra-week up breakout. The near term trend of Nifty is slightly weak, there is possibility of minor downward correction, before moving up further

- Nagaraj Shetti – Senior Technical & Derivative Analyst, HDFC securities

05:22 PM

Markets closed in the red ahead of a long weekend culminating in Easter. After a period of significant momentum ahead of the general elections, the market may take a pause in some kind of an interim profit booking. The accelerating scenario of a slowdown in global growth as also the definitive prospects of higher fuel prices and a weaker currency may also be working on the minds of the market participants at this juncture

- Joseph Thomas-Head Research, Emkay Wealth Management

05:21 PM

Nifty could inch upwards reacting to corporate results even as sectors and stocks see a rotational shift in buying preferences. The thought of NPA/liquidity crisis reviving remains at the back of the mind of most market participants reining in small and midcap stocks that continue to underperform

- Deepak Jasani, Head of Retail Research, HDFC securities

04:18 PM

Market will first react to Reliance and HDFC Bank’s numbers next week. We may see further consolidation in Nifty but bias would remain on the positive side. Traders should maintain caution especially on broader front as midcap and smallcap counters react sharply during such scenario. Also, we suggest keeping close watch on earnings season for cues

- Jayant Manglik, President - Retail Distribution, Religare Broking

04:17 PM

Investors resorted to mild profit booking post the recent rally given truncated week on account of extended holidays and mixed global cues. Investor turned cautious ahead announcement of results from key index heavyweights including large corporate banks. Consolidation was broad-based with PSU banks and metals underperforming. Despite mixed flows from DIIs, downside was capped by positive flows from FIIs given good start to Q4 results

- Vinod Nair, Head of Research, Geojit Financial Services

03:33 PM

CLOSING BELL: Sensex sheds 135 pts, Nifty ends at 11,753; VIX jumps 4%; Jet dives 32%, Rel Power 14%

CLOSING BELL: Sensex sheds 135 pts, Nifty ends at 11,753; VIX jumps 4%; Jet dives 32%, Rel Power 14%
02:44 PM

I personally feel this may not be the time to be very aggressive in the markets but I do not think, I have felt so bullish for India ever in my life! In the next 10 years, India is going to outpace all the growth it has done in the last five years because the NPA problem is behind us, capital investment will revive and we are now going to have growth on a much higher pace.

- Rakesh Jhunjhunwala

02:34 PM

Neogen Chemicals’ Rs 132 crore IPO to open on April 24

Specialty chemicals maker Neogen Chemicals’ initial public offer to raise up to Rs 132.35 crore will open on April 24. The IPO consists of a fresh issue aggregating up to Rs 70 crore by the company and an offer for sale of up to 29,00,000 shares by promoters Haridas Thakarshi Kanani and Beena Haridas Kanani.
01:48 PM

European shares cautious ahead of PMI data

European shares ticked lower in early deals on Thursday, as investors cautiously awaited manufacturing data to gauge the health of euro zone economies ahead of the Easter holiday.

The pan-European STOXX 600 index edged down 0.1 percent by 0725 GMT, with all countries' bourses in the red.

Better-than-expected economic data out of China on Wednesday propelled the pan-region index to a sixth day of gains. The STOXX 600 index hit an eight-month high this week and it has shrugged off a weak opening in recent sessions to close higher.
01:34 PM

State Bank of India falls after Jet stops operations indefinitely

  • Shares of State Bank of India Ltd fall as much as 2.4 per cent to Rs 308.05, in their biggest intraday drop since March 27

  • Jet Airways (India) Ltd, which halted operations indefinitely on Wednesday, has debts of roughly $1.2 bln, with SBI being its biggest lender

  • Lenders led by SBI rejected Jet's plea for emergency funds on Wednesday, with a source telling Reuters that "bankers did not want to go for a piecemeal approach which would keep the carrier flying for a few days and then again risk having Jet come back for more interim funding"

  • Jet's shares were hammered on Thursday, falling as much as 34 per cent to their lowest in over 10 years

  • SBI has a forward PE of 54.12, more than double the sector avg of 23.97

  • Up to Tuesday's close, stock had risen 6.7 per cent this year, compared with an 8.5 per cent increase in the broader NSE index
01:10 PM

Top 10 NSE gainers

Price as on 18 Apr, 2019 01:10 PM, Click on company names for their live prices.
01:00 PM

InterGlobe Aviation, IGL and PVR among stocks hitting fresh 52-week highs

InterGlobe Aviation, IGL and PVR among stocks hitting fresh 52-week highs
12:26 PM

Mindtree trades flat despite solid dividend announcement

Shares of Mindtree edged up in morning trade on Thursday, recouping earlier losses, following March quarter results. Facing hostile takeover bid by Larsen & Toubro (L&T), the company on Wednesday announced a total dividend of Rs 27 per share. The board of directors declared an interim dividend of Rs 3 per share on the face value of Rs 10 each. The company fixed April 27 as the record date for payment of the interim dividend.
11:44 AM

Indian equities are good. There will be some volatility around the elections, but we will go past that. China, Russia, Brazil and India are all looking in reasonable shape right now.

- Shankar Sharma

11:36 AM

Wipro climbs 3% post March quarter results

Shares of IT major Wipro jumped 3 per cent in morning trade on Thursday.

The country’s third-largest IT firm on Tuesday posted a 37.74 per cent year-on-year (YoY) rise in consolidated net profit at Rs 2,483 crore for the quarter ended March 31. The result came in line with ETNow poll estimate of Rs 2,490 crore.

Shares of the company rose even as brokerages are of the view that the company is likely to continue to underperform peers in terms of growth given its persistent execution challenges and gloomy outlook.
11:17 AM

Granules India gets USFDA nod for pain relief drug

Drug firm Granules India Thursday said it has received approval from the US health regulator for Acetaminophen tablets, used for temporary pain relief. The approved product is bioequivalent to the reference listed drug product (RLD), Tylenol tablets, extended release. The US Food and Drug Administration (USFDA) has approved its abbreviated new drug application (ANDA) for Acetaminophen 650 mg tablets, extended release, Granules said in a BSE filing.
11:14 AM

Just In: No data breach of 100 million users, JustDial calrifies

Price as on 18 Apr, 2019 11:14 AM, Click on company names for their live prices.
11:11 AM

SpiceJet shares extend gains, jump 15%

Shares of SpiceJet surged 15 per cent in morning trade on Thursday on news that rival Jet Airways suspended its operations.

Shares of the company have been on an upward trajectory since last Thursday, and as of Tuesday's close, the stock has gained 40 per cent.

The stock rose on the troubles of rival Jet Airways as analysts say in the aviation industry, the fall of one player brings handsome gains to the rivals.
10:40 AM

Other nations took 5-7 years to stabilise from GST which we handled in just one year, says RJ

10:25 AM

Jet shares plunge 30% after suspending all flights

Jet Airways shares plunged as much as 30 per cent in morning trade on Thursday.

The company has temporarily suspended all flights with no cash to run operations any further. While Jet had been running a bare minimum number of 35-40 flights for the last few days, a total grounding will significantly affect its value for potential investors that are undergoing a bidding process to invest in the airline, an ET report said.

Jet Airways lenders on Thursday said they are reasonably hopeful of a successful bidding process for stake sale, a day after the cash-starved carrier suspended its operations.
Jet shares plunge 30% after suspending all flights
10:08 AM

SpiceJet to add 6 more Boeing 737-800 NG on dry lease

SpiceJet to add 6 more Boeing 737-800 NG on dry lease
10:02 AM

Rakesh Jhunjhunwala: Investment and trading are mutually exclusive activities

09:59 AM

RIL shares jump 3% ahead of Q4 earnings

Shares of Reliance Industries (RIL) jumped nearly 3 per cent in morning trade on Thursday.

The Indian conglomerate is to announce its December-March quarter earnings today post market hours. Market experts expect flattish net profit growth and lower petchem earnings due to weakness in margins.

Meanwhile, Saudi Aramco has evinced interest in buying a minority stake in the company’s refining business.

Media reports suggested RIL is seeking a higher valuation for its refining and petrochemicals business as it considers selling a minority stake to Saudi Arabia’s state energy group, Saudi Aramco.
09:31 AM

ETMarkets Morning Podcast: Market-moving news & stocks

09:23 AM

PCJ, Wipro, RVNL among most active stocks on NSE

Price as on 18 Apr, 2019 09:23 AM, Click on company names for their live prices.
09:19 AM

OPENING BELL: Sensex jumps 150 pts, Nifty above 11,800; Jet tanks 10%; RIL gains 2% ahead of Q4 results

OPENING BELL: Sensex jumps 150 pts, Nifty above 11,800; Jet tanks 10%; RIL gains 2% ahead of Q4 results
09:01 AM

Pre-open session: Sensex gains 150 pts, Nifty above 11,850

Sensex gains 150 pts, Nifty above 11,850; rupee trades at 69.49 against dollar.
08:58 AM

Singapore trading sets stage for flat start

Nifty futures on the Singapore Exchange were trading 3.50 points, or 0.03 per cent, lower at 11,852.50, indicating a flatstart for the Nifty50.
08:58 AM

Tech view: Nifty to see support at 11,761

Nifty50 on Tuesday hit an all-time closing high of 11,787.15. With this, the index broke above its consolidation zone of 11,550-11,761 it was trading in the past two weeks. The NSE barometer made higher high-higher low yet gain, but a mixed market breadth was a concern. Bias remained positive and the previous all-time high of 11,761 would now act as a support to the index, said analysts.
08:58 AM

Asian stocks off to subdued start

Asian shares were subdued on Thursday after a negative performance on Wall Street, with caution ahead of business surveys in Europe and Japan, and the Good Friday and Easter holidays keeping investors on the sidelines. MSCI's broadest index of Asia-Pacific shares outside Japan inched up 0.08 per cent. Japan's Nikkei was a shade lower.
08:57 AM

Oil extends losses despite fall in US inventory

Oil prices edged down on Thursday despite a surprise decline in U.S. inventories, with international benchmark Brent retreating from a five-month high touched in the previous session. Brent crude futures were at $71.51 a barrel, down 11 cents, or 0.2 per cent, from their last close.
08:56 AM

US stocks ended lower

US stocks ended slightly lower on Wednesday as a fall in healthcare shares overshadowed a string of positive corporate earnings and upbeat economic data from the United States and China. The Dow Jones Industrial Average fell 3.12 points, or 0.01 per cent, to 26,449.54, the S&P500 index lost 6.61 points, or 0.23 per cent, to 2,900.45 and the Nasdaq Composite dropped 4.15 points, or 0.05 per cent, to 7,996.08.
08:56 AM

RIL, ICICI Lombard to report Q4 results

Oil-to-telecom behemoth Reliance Industries (RIL) will report its March quarter earnings on Thursday. Market experts expect flattish net profit growth and lower petchem earnings due to weakness in margins. The retail segment may continue to report strong growth while telecom arm Jio may witness margin decline in average revenue per user (Arpu) on QoQ basis. ICICI Lombard, RBL Bank, Majesco Auto and DCB Bank will also report their quarterly earnings today.
08:55 AM

News of the day: Jet grounded, Mindtree announces dividends

Jet Airways has decided to suspend all flights from Wednesday night as cash ran out and banks refused to give more money. On the other hand, mid-tier IT firm Mindtree has recommended a payout of over Rs 430 crore in total dividend to its shareholders on Wednesday, representing nearly half of its cash and investment.
08:55 AM

FPIs buy Rs 1,039 crore worth of equities

Foreign portfolio investors (FPIs) bought Rs 1,038.58 crore worth of domestic stocks on Tuesday, data available with NSE suggested. DIIs were net buyers to the tune of Rs 37.22 crore, data suggested.
08:54 AM

Sensex on Tuesday

The domestic stock exchanges were shut on Wednesday on account of Mahavir Jayanti. On Tuesday, the 30-pack Sensex settled at 39,276, up 370 points or 0.95 per cent. The NSE Nifty hit the 11,800 mark for the first time on the same day. It settled at 11,787, up 97 points or 0.83 per cent.
08:48 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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