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Economic Times | 21 Nov, 2019 | 08.28AM IST

Traders’ Diary: Follow ‘sell on rise’ approach

Sensex rose 182 points to end near record peak on Wednesday, led by strong gains in Reliance Industries, Sun Pharma and IndusInd Bank.

!1 New UpdateClick here for latest updates
08:09 PM

Sebi proposals will immensely help both asset management industry as well as investors. The ticket size increase should result in additional AUM from first time investors, as we expect very few investors to not consider PMS funds due to the limit enhancement. Investment avenues such as mutual funds and advisory platforms continue to be available for the Rs 25 to 50 lakh bracket investors. The other measures announced will improve transparency and build faith in the investing space. The net worth increase might reduce the turnover from fund management teams to start their own ventures, thereby enhancing stability for investors and investment managers

- Sushant Bhansali, CEO, Ambit Asset Management

07:42 PM

ETMarkets Evening Podcast: Can Dalal Street sustain this rally?

06:04 PM

The way we closed on Tuesday, things were pretty clear and as expected we managed to surpass the recent hurdle of 12,000 in the initial hour. Market opted for some profit booking at higher levels, but still we remain upbeat and expect the index to first test 12050 and then move towards the record highs. The ‘buy on declines’ strategy should be continued and the banking index is likely to lead this move. On the lower side, the support is getting shifted higher; first from 11,700 to 11,800 and now from 11,800 to 11,960–11,900

- Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel Broking

06:03 PM

We remain cautiously optimistic as automobiles, power demand and fuel consumption continue to exhibit slowdown as lower government spend on infra is seen impacting commercial vehicle demand

- S Ranganathan, Head of Research at LKP Securities

06:02 PM

Nifty formed a Doji candle on the daily scale, which indicated indecisiveness at higher levels. But it managed to hold above the previous day’s high throughout the session and formed higher highs and lows for the second consecutive session. Support for Nifty is now inching higher towards the 11,900 and then 11,850 levels; while the immediate hurdle remains intact in the 12,100 – 12,150 zone

- Chandan Taparia, Technical & Derivative Analyst, MOFSL

05:43 PM

Sebi reforms aim at greater disclosure and transparency and therefore is desirable. The 30-day default disclosure timeline is fair. Hiking the investment limit for PMS from Rs 25 lakh to Rs 50 lakh is a bit restrictive. Many potential investors are likely to be denied the benefits of PMS

- V K Vijaykumar, Chief Investment Strategist, Geojit Financial Services

04:19 PM

The bulls managed to breach 12,000 decisively, however, could not manage to close above the 12,000 mark. Some mild profit booking is still happening above this level. Market breadth was a tad in the negative, but nothing alarming. It's not a surprise to witness some profit booking near all-time highs. The overall structure remains positive and the rally is getting broad-based. We continue to remain overall positive on the index and believe Nifty is poised to hit fresh all-time highs above 12,100

- Amit Shah, Technical Research Analyst with Indiabulls Ventures

04:15 PM

Markets traded upbeat and gained nearly half a per cent amid mixed cues. The recent surge can be largely attributed to buoyancy in the global markets and better than expected earnings season, however, participation is still restricted mainly to index majors and select midcap counters. We suggest continuing with positive yet cautious approach and using further upmoves to book profits

- Ajit Mishra Vice President, Research, Religare Broking

04:14 PM

Market traded higher ahead of Cabinet meeting due today to discuss on divestment and continued strong buying in index heavyweights, lead by pharma and banking stocks. Fresh worries surfaced over US–China trade tensions, but domestic market maintained positive momentum. The government’s plan to divest PSU stake to help maintain the fiscal deficit target in check

- Vinod Nair, Head of Research, Geojit Financial Services

03:35 PM

CLOSING BELL: Sensex jumps 184 pts, Nifty ends just shy of 12,000; Sun Pharma, IndusInd surge up to 5%; PSU banks fall

CLOSING BELL: Sensex jumps 184 pts, Nifty ends just shy of 12,000; Sun Pharma, IndusInd surge up to 5%; PSU banks fall
03:17 PM

Stocks that scaled 52-week lows today

Price as on 20 Nov, 2019 03:17 PM, Click on company names for their live prices.
02:54 PM

Moody's assigns Baa1 rating to ONGC's proposed senior unsecured notes

Moody's Investors Service on Wednesday said it has assigned a 'Baa1' rating to the proposed senior unsecured notes to be issued by Oil and Natural Gas Corp under its $2 billion medium-term note program. The outlook on the rating is negative, Moody's said in a statement.
02:35 PM

Markets are flashing signs that trade is back on top of risk radar

Haven assets are rallying in Asia as US-China trade tensions take a turn for the worse, ending weeks of optimism that a deal between the two countries was close enough to touch. Developed-nation bonds in the region extended recent gains Wednesday, with yields on 10-year Treasuries sinking almost 20 basis points in the past two weeks. Australia’s have fallen even more.
01:29 PM

Anil Ambani-led companies slump in Wednesday's trade

Price as on 20 Nov, 2019 01:29 PM, Click on company names for their live prices.
01:01 PM

We now expect broader markets to outperform. Markets usually run ahead of macros and price future growth. There are three positive indicators for growth – reduction in corporate tax rate, proposed divestment of large public sector units, and a possible resolution of the US china trade impasse. Therefore we see growth coming back in 2020

- Sanjiv Bhasin, Director, IIFL Securities

12:40 PM

Opportunity here?

12:28 PM

Anand Rathi upgrades Atul Auto to buy

After the sharp fall, the stock trades at an attractive 8.8x FY20e PE. We expect revenue to register an 8% CAGR (to Rs 7.63bn) and PAT to record a 7% CAGR (to Rs 640m). Given the inexpensive valuation, we see potential and upgrade our recommendation to a Buy, at a target price of Rs 350. Risks: Lower-than-expected volume growth. (Source: Anand Rathi)
Anand Rathi upgrades Atul Auto to buy
12:24 PM

Asia shares trapped in a trade maze, oil nurses losses

Asian shares stumbled on Wednesday as the Sino-U.S. trade talks produced nothing but a stream of conflicting messages, while concerns about a glut of supply left oil prices nursing their biggest one-day loss in seven weeks, Reuters reported.
12:13 PM

Consumer Durables shares trade lower; Crompton Greaves dips 2%

The S&P BSE Consumer Durables index was down in Wednesday's afternoon session with its components trading lower. Shares of Crompton Greaves Consumer Electricals (down 1.93 per cent) , PC Jeweller (down 1.88 per cent) , Whirlpool of India (down 0.89 per cent) and Rajesh Exports (down 0.54 per cent) were the top losers in the index. Voltas (down 0.41 per cent) , Titan Company (down 0.26 per cent) and TTK Prestige (down 0.22 per cent) too were trading lower.
11:54 AM

Blue Star launches room ACs with in-built air purifiers

Price as on 20 Nov, 2019 11:54 AM, Click on company names for their live prices.
11:47 AM

Telecom shares jump; Vodafone Idea surges 22%

Telecom shares were trading in the green in Wednesday's morning session. Shares of Vodafone Idea (up 21.59 per cent) , Tejas Networks (up 19.95 per cent) , GTL Infrastructure (up 4.76 per cent) and Optiemus Infracom (up 1.40 per cent) were trading in the positive zone. The S&P BSE Telecom index was trading 1.25 per cent up at 1096.19 around 11:35 am.
11:35 AM

Power shares mixed; RInfra slumps 5%

The BSE Power index was down in Wednesday's morning session. Shares of Adani Transmission (up 2.35 per cent) , Torrent Power (up 0.80 per cent) , Adani Power (up 0.75 per cent) and NHPC (up 0.64 per cent) were the top performers in the index. While Reliance Infrastructure (down 4.86 per cent ) , Bharat Heavy Electricals (down 1.62 per cent ) , Siemens (down 1.37 per cent ) and Tata Power Company (down 0.63 per cent ) were the top losers in the index.
11:11 AM

Alibaba to price shares at HK $176 in $12.9 bn Hong Kong listing

Chinese e-commerce giant Alibaba will raise up to $12.9 billion (£9.9 billion) in its Hong Kong secondary listing and is set to price its shares at HK$176 each, a 2.8% discount to their New York share price, sources with direct knowledge of the matter said.
Alibaba to price shares at HK $176 in $12.9 bn Hong Kong listing
11:11 AM

PSU bank shares rise; Canara Bank up 2%

Shares of PSU banks were trading with gains in Wednesday's morning session. Shares of Canara Bank (up 2.17 per cent) , Bank of India (up 1.82 per cent) , Bank of Baroda (up 1.31 per cent) and Jammu & Kashmir Bank (up 1.04 per cent) were the top performers in the index. The Nifty PSU Bank index was trading 0.76 per cent up at 2609.05 around 10:53 am.
11:08 AM

21 stocks hit 52-week highs on NSE

Around 21 stocks rose to touch their 52-week highs on NSE in Wednesday's session. Among the stocks that touched their 52-week highs were Adani Green Energy, Agro Phos India, Bharti Airtel, DLF, Essel Propack, Jump Networks, Reliance Industries and Shipping Corporation Of India.
10:56 AM

Voda Idea climbs 170% in 4 sessions; should you bet on the stock?

Shares of beaten-down Vodafone Idea climbed as much as 32 per cent in Wednesday's trade, extending its four-day rally to nearly 170 per cent. The stock hogged limelight after the company said it will raise mobile services rates from December 1 in the wake of the ongoing financial stress. In another development, the country’s third-largest telecom service provider, is seeking about Rs 7,000 crore in tax refunds for past years even as it faces fresh statutory dues liability - running into thousands of crore - that has put the income tax department in a bind, PTI reported referring sources privy to the development.
10:30 AM

For a long-term investor, anything around Rs 60-65 levels is not a bad price because the visibility as to when does the investor come and at what price he comes in is, something not a question of if, it is a question of when. Once that happens, a bank this size will definitely turn and given the fact that the kind of people who come and do the second round of fund raising and that the management is committed, over the long run, clearly there is value in the stock at these prices.

- Sameer Narayan on YES Bank

10:08 AM

Sensex scales fresh record high

Sensex scales fresh record high
10:06 AM

Midcaps ready to bounce back? Foreign funds spot an opportunity

Midcaps ready to bounce back? Foreign funds spot an opportunity
09:46 AM

Sensex rises 150 points, Nifty nears 12,000; RIL surges 3%

09:43 AM

YES Bank slips 3% on divergence in bad loans for FY19

Shares of YES Bank cracked over 3 per cent in the opening trade on Wednesday after the private sector lender on Tuesday reported a lower net profit of Rs 1,084.03 crore for the financial year 2018-19 against Rs 1,720.28 crore announced earlier due to higher non-performing assets (NPAs) assessed by the Reserve Bank.

The scrip was down 3.35 per cent at Rs 62, while the BSE Sensex was up 146 points, or 0.36 per cent, at 40,615.

The divergence in net non-performing assets (NPAs) of the bank --the difference in bad loans reported by the bank and the assessment done by the RBI -- stood at Rs 2,299 crore for 2018-19.
09:28 AM

Voda Idea, YES Bank, RCom among most active stocks on NSE

Price as on 20 Nov, 2019 09:28 AM, Click on company names for their live prices.
09:23 AM

RIL nears Rs 10 lakh crore m-cap, jumps 4%

RIL nears Rs 10 lakh crore m-cap, jumps 4%
09:19 AM

OPENING BELL: Sensex gains 100 points, Nifty nears 12,000; Vodafone Idea surges 20%, UCO Bank 11%

OPENING BELL: Sensex gains 100 points, Nifty nears 12,000; Vodafone Idea surges 20%, UCO Bank 11%
09:10 AM

Podcast: Let's talk business & markets

09:01 AM

Pre-open session: #Sensex rises 75 points, Nifty tops 12,000; Rupee opens at 71.83 against US dollar

08:55 AM

Singapore trading sets stage for negative start

Nifty futures on the Singapore Exchange traded 28.50 points, or 0.24 per cent, lower at 11,953, indicating a negative start for Dalal Street.
08:55 AM

Tech view: Nifty forms small bullish candle

Nifty50 on Tuesday saw a fag-end rally, but failed to close above the lower end of a crucial 11,950-12,000 range. The index ended up forming a Small Bullish Candle on the daily chart. Analysts said the advance-decline ratio needs to improve, as the index looks to take out the 12,000 level in the coming days.
08:54 AM

Asian markets weak

Asian shares lumbered lower on Wednesday as the Sino-U.S. trade talks produced nothing but a stream of conflicting messages, while concerns about a glut of supply saw oil prices suffer their biggest spill in seven weeks. Action in share markets was subdued with MSCI's broadest index of Asia-Pacific shares outside Japan off 0.25 per cent. Japan's Nikkei eased 0.2 per cent and South Korea shares were down 0.4 per cent. E-Mini futures for the S&P 500 lost 0.1 per cent.
08:54 AM

Oil slumps on oversupply fears

Oil fell more than $1 a barrel on Tuesday on concerns about excess global crude supply and limited progress toward resolving the U.S.-China trade dispute that has clouded the outlook for oil demand. Brent crude futures fell $1.53, or 2.5%, to settle at $60.91 a barrel. U.S. West Texas Intermediate (WTI) crude futures lost $1.84, or 3.2%, to settle at $55.21 a barrel.
08:54 AM

Dow and S&P end lower

The Dow Jones Industrial Average and the S&P 500 fell from record levels on Tuesday as dour forecasts from retailers Home Depot and Kohl's fueled worries about consumer spending and the U.S.-China trade dispute dragged on. US President Donald Trump on Tuesday threatened to escalate the trade war by raising tariffs on Chinese imports if no deal is reached with Beijing. Dow was down 0.36 per cent and S&P off 0.06 per cent.
08:54 AM

FII sell shares worth Rs 915 crore

Net-net, foreign portfolio investors (FPIs) were sellers of domestic stocks to the tune of Rs 915 crore on Tuesday, data available with NSE suggested. DIIs were net buyers to the tune of Rs 262 crore, data suggests.
08:54 AM

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Here's what you need to track today
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