Showing signs of sluggishness in the economy, industrial production shrank by 4.3 per cent in September, registering the weakest performance in seven years due to output decline in manufacturing, mining and electricity sectors, as per official data released on Monday. According to the Central Statistics Office (CSO) data, 4.3 per cent contraction is the lowest in 2011-12 series of Index of Industrial Production, which was unveiled in May 2017. The IIP had declined by 0.7 per cent in April, 2012.
Nifty consolidated in a narrow range of 75 points and formed a small bodied candle on the daily scale as dips were being bought into while hurdle remains intact at higher levels. The index has been respecting the 11,850 level from the past eight sessions, and now it needs to continue to hold above the same to witness an upmove towards 12,035 and then 12,103. On the downside, supports are seen at the 11,780-11,750 zone
Bulls took a day off on Monday. The 11,850 zone has not been breached so far. Below the mentioned zone, profit taking towards the lower support zone of 11,700 is likely. Nifty is witnessing a phase of consolidation. Broader trend continues to remain positive and traders should utilise dips towards support zone to build long positions. Overall we continue to maintain our positive view on the index for new all-time highs above 12,100
- Manav Chopra, CMT, Head Research - Equity, Indiabulls Ventures
We continue to maintain our cautious stance on the Indian market given the recent runup. Going forward, last leg of earnings announcement, key data such as CPI/WPI and IIP is likely to induce volatility into the market. On the global front, market participants would keep a close watch on trade developments between US-China as the two approach closer to sign phase one of the trade deal
Market was rangebound as investors stood on the sidelines on expensive largecaps, while midcaps and smallcaps saw some buying interest based on Q2 results & reasonable valuations. Continued poor performance from automobiles and fresh doubts over US-China trade deal is likely to force consolidation in the short term. Investors are keen on CPI inflation data tomorrow, consensus is showing further rise to 4.35% due to increasing vegetable prices, which may impact RBI’s next policy outcome
- Vinod Nair, Head of Research, Geojit Financial Services
Nifty closed at 11,913 with a gain of 5 points on Monday. The index has stiff resistance near 12,000-12,035 zone and any decisive break above said levels can push index towards 12,300. Immediate strong support for the index is coming near 11,850 and overall support is coming near 11,700. Current chart structure hinting that we may see some consolidation in 12,000-11,700 range and either side breakout will decide the final direction
- Rohit Singre, Senior Technical Analyst at LKP Securities
CLOSING BELL: Sensex stages 200-pt recovery to end 21 pts higher; Nifty holds above 11,900; Dish TV jumps 9%, YES Bank 6%
23.9 lakh HDFC Bank shares traded in a block
Price as on 11 Nov, 2019 03:27 PM, Click on company names for their live prices.
HDFC Asset Management, India’s largest mutual fund house by assets, bought select FMCG, public sector companies and pharma players with both hands in October as September quarter earnings season peaked.
The fund house purchased more than 1 crore shares each in FMCG major ITC and India's largest hydropower producer NHPC.
ITC last month posted a 37.06 per cent increase in consolidated net profit at Rs 4,173.72 crore for September quarter, while NHPC is scheduled to announce its number later on Monday.
India Cements Q2 profit at Rs 5 crore
India Cements on Monday posted a consolidated net profit of Rs 5.07 crore for the second quarter ended September 30, 2019.
The company had posted a net loss of Rs 5.03 crore for July-September period a year ago, India Cements said in a BSE filing.
Revenue from operations was down 11.20 per cent to Rs 1,269.40 crore during the quarter under review as against Rs 1,429.57 crore in the year-ago period.
TeamLease shares tumble as Q2 net profit falls 19%
Price as on 11 Nov, 2019 01:21 PM, Click on company names for their live prices.
Nomura initiates Affle India with a buy rating
Nomura said it initiated coverage on Affle India, a leading digital AdTech player in the country, with a buy rating. The brokerage believes the underlying macro is attractive in Affle’s key markets (India & SEA), where a large internet user base, rising smartphone sales, improving data connectivity and young demographics augur well for the shift to digital.
Bank of Baroda rises as Q2 net jumps 73%
Price as on 11 Nov, 2019 12:55 PM, Click on company names for their live prices.
Glenmark gets USFDA nod for generic acne treatment gel
Price as on 11 Nov, 2019 12:52 PM, Click on company names for their live prices.
Asian shares sank on Monday, the safe haven yen rose and gold jumped following a fresh escalation of violence in Hong Kong while uncertainty still remained over whether the United States and China could end their damaging trade war, Reuters reported.
Anil Dhirubhai Ambani group companies trade around 5% lower
Price as on 11 Nov, 2019 12:11 PM, Click on company names for their live prices.
Flummoxed by very weak private sector investment and consumption in India: Mark Matthews, Julius Baer
We probably saw a bottom for the economy in the most recent GDP printed 5% and I imagine that by the end of the year, we will get back up to around 6%. It is not going back up to 8% like it was a few years ago, but I do think that it takes time for things like interest rate cuts and tax cuts to flow through into the economy. I do think that they will and so I am not seeing a V-shaped recovery, but I do see a recovery. I think things will be progressively better over the next six months.
- Mark Matthews, Julius Baer
Siam data for October
#SiamData: Oct passenger car sales at 1.73 lk units down 6.34% YoY https://t.co/rZcIbNt2Oh
Price as on 11 Nov, 2019 11:46 AM, Click on company names for their live prices.
Telecom shares mixed; MTNL jumps 5%
Telecom shares were trading on a mixed note in Monday's morning session.
Shares of Mahanagar Telephone Nigam (up 4.94 per cent) , Vodafone Idea (up 2.38 per cent) , Bharti Airtel (up 0.54 per cent) and Bharti Infratel (up 0.30 per cent) were trading with gains.
On the other hand, Vindhya Telelinks (down 5.85 per cent ) , Optiemus Infracom (down 4.95 per cent ) , Reliance Communications (down 2.90 per cent ) and GTL Infrastructure (down 2.38 per cent ) were the top losers in the index.
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The Nifty index has gained exceptionally well in the last 5 weeks as it rose from roughly 11,100 to 12,000 mark with some intermediate consolidation. After this sharp up move, indications are in the favour of consolidation in the index with marginal profit-taking in between. We expect Nifty to trade within 11,700-12,100 zone. Among the sectoral indices, we expect private banks, financials and metal pack to do well while others may see selective participation.
Price as on 11 Nov, 2019 10:31 AM, Click on company names for their live prices.
I-Sec maintains Hold on HPCL; target price at Rs 279
ICICI Securities is neutral on HPCL at the current juncture given the volatility in global GRMs and uncertainty on company’s ability to pass on costs to customers during high oil prices. HPCL’s marketing margins and trend in refining margins will determine its near term performance. The brokerage has a HOLD recommendation on the stock with a target price of Rs 295 (based on average of P/BV multiple: Rs 310/share and P/E multiple: Rs 279/share).
YES Bank, Voda Idea, BoB, ALL among most active stocks on NSE
Price as on 11 Nov, 2019 09:43 AM, Click on company names for their live prices.
Pre-open session: Sensex gains 50 points, Nifty below 11,900; rupee trades at 71.30 against dollar
Singapore trading sets stage for negative start
Nifty futures on the Singapore Exchange traded 15.50 points, or 013 per cent, lower at 11,931.50, indicating a negative start for Dalal Street.
Tech view: Bears back into the game
Nifty50 on Friday could not hold above the 12,000 mark and slipped below the immediate support at 11,946 level, bringing the bears back into the game. The NSE barometer has fallen below its five-day exponential moving average and analysts said the reclaiming of 11,946 level will be initial step to recovery.
Asian shares gain on Trump comments
Asian shares edged higher on Monday after US President Donald Trump said over the weekend that trade talks with China were moving along “very nicely”, though uncertainty remained over whether a deal would be signed this year. Japan's Nikkei was up 0.2 per cent to inch closer to a recent 13-month high. South Korea's KOSPI index was off 0.2 per cent.
US stocks ended higher on Friday
US stocks closed higher, as investors continued to gauge the development of US-China trade scenarios, and the latest consumer sentiment. The Dow Jones index rose 6.44 points, or 0.02 per cent, to 27,681.24. The S&P500 index was up 7.90 points, or 0.26 per cent, to 3,093.08. The Nasdaq Composite index increased 40.80 points, or 0.48 per cent, to 8,475.31.
Oil prices drops in early trade
Oil prices fell on renewed caution over the prospects of a trade deal between the US and China. Brent crude fell by 39 cents, or 0.6%, to $62.12 a barrel while WTI crude sliiped 35 cents, or 0.6%, to $56.89
Adani Ports, CIL to announce Q2 results
Adani Ports, Coal India, Hindalco, NMDC, NHPC, Oil India, SJVN, Mahanagar Gas, India Cements, Hindustan Aeronautics and Finolex Industries are among some of the firms that will declare Q2 earnings later in the day.
FIIs buy Rs 932 crore worth stocks
Net-net, foreign portfolio investors (FPIs) were buyers of domestic stocks to the tune of Rs 932.20 crore on Friday, data available with NSE suggested. DIIs were net sellers to the tune of Rs 584.48 crore, data suggests.
Ayodhya verdict big positive for markets
Market analysts and economists said the SC verdict, ending an over a century-old dispute, would be good for the economy and markets in general, as it has removed a major uncertainty over the country’s polity and policy. It will help improve confidence of global investors towards the Indian economy, they felt.
Talks with China have moved slowly, Trump admits
Trump told reporters on Saturday that talks with China had moved more slowly than he would have liked but added that Beijing wanted a deal more than he did, Reuters reported. That was a more upbeat tone than just a few days earlier when Trump stressed that the White House would not agree to a full rollback of existing tariffs.
Industrial production data to be out today
Industrial production data will be out on Monday. According to the median of estimates of 15 economists polled by Cogencis, industrial production is likely to have contracted 2.5% in September–the second successive month in which it may have declined after posting a fall of 1.1% in Augustled by a sharp fall in production by key infrastructure industries.
Japan sees surprise drop in machinery order
Japan’s machinery orders fell for a third straight month in September, raising doubts that business spending will be strong enough to offset external pressures, which have clouded the outlook for the export-reliant economy. Capital spending has been a bright spot for the world’s third-largest economy, driven by refurbishing of aged infrastructure, urban development, automation and investments to cope with a labour crunch in the rapidly ageing population.
Aramco IPO prospectus flags risks
Saudi state oil giant Aramco will sell up to 0.5% of its shares to individual retail investors and will be restricted from issuing additional shares for a year after the initial public offering (IPO), its prospectus said. Aramco fired the starting gun on what is likely be the world’s largest listing on Nov. 3 after a series of delays. The offering, set to rank it as the world’s most valuable company, will begin on Nov. 17, the prospectus said.
Indian economy currently facing challenges: FM
Finance Minister Nirmala Sitharaman on Sunday unveiled a book on global finance, and said it suggests solutions for challenges that the world and Indian economy is currently facing. Launching the book titled 'The Rise of Finance: Causes, Consequences and Cure', she said it will help "understand the current economic situation facing both the world and Indian economy".
Sensex on Friday
Equity benchmark BSE Sensex tumbled 330 points on Friday as investors pressed the exit button after Moody's cut India's credit rating outlook citing growth concerns.
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