Wall Street's main indexes eased from record levels on Monday after a report stoked fresh fears about a resolution to the U.S.-China trade dispute that has hit global growth and roiled financial markets over the past 16 months.
The mood in Beijing about a deal was pessimistic due to President Donald Trump's reluctance to roll back tariffs, CNBC reported, citing a government source.
Podcast: Will the bears take back control of D-Street?
The ongoing weakness to get accelerated once the bears decisively push the index below the said average. In such a scenario, a breach of recent corrective swing low of 11,802 levels looks inevitable. Any upside looks capped at 11,973
- Mazhar Mohammad, Chartviewindia.in
Nifty is clearly experiencing a time-wise correction and despite banking index having a head start, the momentum did not last too long. Since the overall intraday range was small, the chart structure in recent consolidation does not change at all. On the higher side, Nifty is facing a sturdy wall at 11,950 and on the lower side, 11,802–11,750 is seen as near-term supports. For the coming session, traders need to keep a tab on above mentioned levels; but with a positional view, our bias still remains bullish and we advise traders to create longs in any such intraday declines.We reiterate that it’s a matter of time, we would see index traversing this intermediate barrier of 11,950 to head towards all-time highs
- Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel Broking
Bulls continue to be on the sidelines as market consolidates. Till 12,000 is not breached on the upside, expect the near term consolidation to continue. Market breadth was a tad negative, however, nothing alarming. Nifty has immediate support in 11,700-11,800 zone. We continue to remain positive on the index and believe that it is poised to hit fresh all-time highs above 12,100. Dips towards support zone should be utilised to build long positions
- Amit Shah, Technical Research Analyst, Indiabulls Ventures
Nifty formed a small bodied candle followed by Doji candle on the daily scale, which indicates lack of participation. Now, the index has to continue to hold above 11,850 to witness an upmove towards 11,950 and then 12,000, while on the downside, major support is seen at 11,780
Nifty closed on a flattish note forming doji candle for the second consecutive session, suggesting indecision in the market. The index is taking strong resistance near 12,000 mark, and unless it sustains above this level, we may not see a good upmove. Support for the index is coming near 11,800-11,750 zone. Overall, the index has formed a tight range with 12,000 on the higher side and 11700 zone on the downside
- Rohit Singre, Senior Technical Analyst at LKP Securities
Post Q2 results, market seems to have entered an indecisive period of trade having rallied well in the last two months and lack of major data releases this week. Globally, investors are awaiting triggers on resolution of the US-China trade tension and future interest rate trajectory of US central bank. In the short-term volatility may stay, but banks are expected to do well given a new life to distressed asset
- Vinod Nair, Head of Research, Geojit Financial Services
“With lack of any major positive triggers, both on domestic and global front, we continue to maintain a cautious stance on Indian market. In the near term, investors will keep an eye on the progress of trade talks between the US and China, behaviour of crude oil prices and fluctuation in the rupee. We would advise investors to focus on fundamentally sound companies with strong financials and healthy prospects
CLOSING BELL: HDFC Bank, RIL drag Sensex 73 pts lower; Nifty ends at 11,885; YES Bank drops 4%
Tata Motors ties up with Lithium Urban for EV segment
Price as on 18 Nov, 2019 03:12 PM, Click on company names for their live prices.
The biggest factor I look for in this market, for any big trend is the TINA factor. There was no alternative if you went and tried some fancy NBFC housing finance, then something comes out and you are down 30-40%.
China stocks ended Monday firmer, as investors hoped for more stimulus measures to shore up the slowing economy after a interbank lending rate cut. The blue-chip CSI300 index rose 0.8 per cent, to 3,907.93, while the Shanghai Composite Index added 0.6 per cent to 2,909.20.
Stocks that hit 52-week highs on NSE
Price as on 18 Nov, 2019 01:35 PM, Click on company names for their live prices.
Broader markets beat benchmark Sensex as BSE midcap and smallcap rise 0.30% each
Parag Milk Foods jumps as promoter ups stake
Price as on 18 Nov, 2019 01:09 PM, Click on company names for their live prices.
DHFL drops as co stares at insolvency proceedings
Price as on 18 Nov, 2019 12:56 PM, Click on company names for their live prices.
A very interesting opportunity may be that the whole EM trade will reverse and that can lead to disproportionate flows to India. That is where the benefit lies.
- Atul Suri, CEO & CIO, Marathon Trend – PMS
I think the earnings season was in line but the expectations are very muted to begin with so those modest expectations were met on a operational front. The headline numbers at the profit level obviously are better than expectations because of the tax cuts.
- Gautam Duggad, head of Research-Institutional Equities, Motilal Oswal Financial Services
Nifty Financial Services index down; Indiabulls Ventures slips 3%
The Nifty Financial Services index was down with its components trading mixed in Monday's afternoon session.
Shares of Power Finance Corporation (up 4.36 per cent) , REC (up 3.47 per cent) , State Bank of India (up 1.44 per cent) and Edelweiss Financial Services (up 0.81 per cent) were the top performers in the index.
While Indiabulls Ventures (down 2.82 per cent ) , ICICI Lombard General Insurance Company (down 2.07 per cent ) , Sundaram Finance (down 1.89 per cent ) and HDFC Bank (down 1.22 per cent ) were the top losers in the index.
JP Morgan Asset Management upgraded its outlook on global stocks on Monday, pointing to hopes for a breakthrough in Sino-US trade talks, a reduced risk of a US recession and a moderately positive earnings outlook.
Media shares gain; Dish TV climbs 6%
Media shares were trading with gains in Monday's afternoon session.
Shares of Dish TV India (up 5.90 per cent) , Eros International Media (up 3.08 per cent) , Zee Entertainment Enterprises (up 2.66 per cent) and Network 18 Media & Investments (up 2.55 per cent) were trading higher.
Zee Media Corporation (up 1.35 per cent) , Sun TV Network (up 1.31 per cent) , Hathway Cable & Datacom (up 1.01 per cent) and TV Today Network (up 0.37 per cent) too were trading with gains.
Asia shares hauled higher as China trims key repo rate
Asian shares ticked higher on Monday after Beijing surprised markets by trimming a key interest rate for the first time since 2015, stirring speculation that further stimulus was on the way for the world’s second-largest economy, Reuters reported.
Gold projected to average $1,511 an ounce next year, trading in a range around $1,500, against about $1,466 now
- Morgan Stanley
Reliance Capital falls as co defaults on bond repayment obligations
Price as on 18 Nov, 2019 11:27 AM, Click on company names for their live prices.
US markets headed for correction?
US Markets are now in a phase of frenzied upmove driven by Algorithms and a left out feeling among many investors w… https://t.co/ifNzrYwmJl
Even in the current week, there is another ‘doji’ formation, which indicates indecisiveness prevailing at current levels. Going ahead, 11,800 (Nifty) could act as a decisive level for the markets since it is the low of the past two weeks. A breach of the same might halt the on-going momentum for the time being. This can drag the index towards 11,700 or below levels along with profit booking in individual stocks.
- IndiaNivesh Securities
Telecom majors rally on hopes of govt aid
Price as on 18 Nov, 2019 11:00 AM, Click on company names for their live prices.
Indications are in the favour of further consolidation and we expect Nifty to continue to hover within 11,700-12,100 range. Having said that, we feel it’s a healthy pause and the overall trend would remain positive. Besides, the buoyancy in banking index is pointing towards strong possibility of Nifty testing a newer high in weeks to come. Meanwhile, volatility would remain high on the stock-specific front thus we advise maintaining balanced approach in trading, by keeping few shorts as well.
Sterling and Wilson Solar plunges 20% as promoters fail to repay loan
Shares of Sterling and Wilson Solar plunged 20 per cent to hit lower circuit limit in Monday’s trade even as the promoters tried to allay investor concerns about the financial health of the company.
Shapoorji Pallonji Group chairman Shapoor Mistry said the promoters stand by the company’s repayment commitments and a delay does not mean dishonouring that pledge. Sterling and Wilson is jointly promoted by Shapoorji Pallonji Co Ltd (SPCPL) and Khurshed Daruvala.
On Monday, the scrip was down 20 per cent at Rs 321 on BSE. It got listed on August 21 on the bourses.
Sensex slips into the red; HDFC duo, TCS, Infosys top drags
Glenmark Pharma rallies 9% as CLSA upgrades stock
Price as on 18 Nov, 2019 10:00 AM, Click on company names for their live prices.
Voda Idea, YES Bank, SBI among most active stocks on NSE
Price as on 18 Nov, 2019 09:45 AM, Click on company names for their live prices.
CLSA ON L&T
Reiterates its FY20 guidance, which investors were impressed with given the wide-spread economic slowdown
Co is banking on a pipeline of Rs5.2tn in projects to be awarded in 2H to maintain its inflow guidance
Middle East & North Africa (MENA) inflow pick-up has more than made-up for a weak domestic market
Orders are driven by water & lift irrigation, roads & bridges, metro & rail Capex and hydrocarbon
Divestiture deals, a likely payout of divestment proceeds and working capital will be keenly watched
Maintains Buy, target Rs 1,730
CLSA ON GLENMARK
Attractive valuation drives upgrade from SELL to BUY
Lifts target price from Rs350 to Rs410
Increases FY20-22 EPS by 3%-22%
Leveraged balance sheet remains a concern
No reduction in net debt in 1HFY20 and high R&D spending in the medium term
US sales momentum is expected to remain strong whereas India should continue growing above the industry rate
All geographies witnessed YoY growth for the first time in over three years
Pre-open session: Sensex gains 100 pts, Nifty above 11,900; rupee trades at 71.62 against dollar
Singapore trading sets stage for flat start
Nifty futures on the Singapore Exchange traded 3 points, or 0.03 per cent, higher at 11,941, indicating a flat start for Dalal Street.
Tech view: Nifty forms Doji candle
Nifty50 erased most of the intraday gains on Friday to settle around the same level where it had opened. In the process, it formed a Doji candle on the daily chart. The index formed a similar indecisive candle on the weekly scale. A hold above 11,850 level is a must for any upside.
Asian shares in waiting mode ahead of Fed event
Asian share markets got the week off to a muted start on Monday as jaded investors awaited real evidence on progress in the US-China trade dispute. MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.06 per cent in very light volumes. Japan's Nikkei added 0.05 per cent. Minutes of the Federal Reserve’s last policy meeting are set to be released on Wednesday.
Oil prices flat amid lack of directional cues
Oil prices were little changed following steady gains in the previous week with investors awaiting fresh clues over prospects for a trade deal between the United States and China, shrugging off concerns over steadily rising oil supplies. Brent crude futures were down 5 cents, or 0.1 per cent, at $63.25. The contract rose 1.3 per cent last week.
US stocks settled higher on Friday
On Friday, The Dow Jones Industrial Average increased 222.93 points, or 0.80 per cent, to 28,004.89. The S&P 500 rose 23.83 points, or 0.77 per cent, to 3,120.46. The Nasdaq Composite Index was up 61.81 points, or 0.73 per cent, to 8,540.83.
FIIs sell Rs 1,008 crore worth stocks
Net-net, foreign portfolio investors (FPIs) were sellers of domestic stocks to the tune of Rs 1,008 crore on Friday, data available with NSE suggested. DIIs were net buyers to the tune of Rs 537.74 crore, data suggests.
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