Sensex and Nifty closed in the red for a third session in a row, dragged by selling mainly in oil and gas and financial counters.
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Bears flex muscle again; what's next?
The short-term parameters indicate selling pressure and trend reversal on a close below 12,000. The current momentum indicates bearish setup and exhaustion in indicators, which hints for downside, if 12,000 is violated. Support is at 12,000-11,900 and resistance is in 12,100-12,150
- Manav Chopra, CMT, Head Research - Equity, Indiabulls Ventures
Any sustained move below 12,000 will have the potential to push Nifty towards 11,800. Immediate hurdle in the 12,100-12,160 range
- Rohit Singre, LKP Securities
A close below 20-DMA is a sign of weakening uptrend. Sustained trade below 12,040 level will drag Nifty to 11,990-11,930. On the upside, 12,090 will act as a tough supply zone, breaching which the index can move towards 12,155-12,220 range
- Aditya Agarwala, YES Securities
Nifty continued its selling streak for a third consecutive session and closed a tad below its immediate support of 50-DEMA. At the current juncture, we are observing the formation of a Bullish Harmonic pattern called Bullish Shark on the hourly chart and Potential Reversal Zone (PRZ) of the same is placed at 12,007–12,018. Looking at the overall chart structure, the ongoing correction may halt around 12,000, and if Nifty holds above that, then we may see an upmove towards 12,250
The Securities and Exchange Board of India (Sebi) on Monday said that an individual investment advisor cannot provide distribution services to clients, as the markets regulator segregated advisory and distributing activities. In a press release, the market regulator said it will introduce an upper limit on the fees charged to clients by investment advisers.
The market closed in the red for a third trading session, as investors chose to book profit at higher levels. As most of the key events are behind us, the market would take cues from global peers. Further, investors would keep a watch on updates of coronavirus. In the meantime, any correction should be considered as a buying opportunity
- Ajit Mishra, VP - Research, Religare Broking
Sebi board meet outcome
#JUSTIN | For investment advisors, there will be segregation of advisory and distributing activities at client leve… https://t.co/8hEWObYNeN
Domestic growth concerns seem to be back, as indicated by a recent downgrade by Moody’s. Banks having significant exposure to telecom players continued to be in the limelight as lack of funds could delay the payments and degrade the quality of banks balance sheet. Continuous rise in coronavirus cases has forced major Asian peers to downgrade their growth outlook, which could have a ripple effect on other nations in the first quarter while recovery is expected from the second
- Vinod Nair, Head of Research, Geojit Financial Services
Sensex drops 170 pts, Nifty ends at 12,046; ONGC, NTPC fall 3% each
CLOSING BELL: Sensex falls for 3rd day, down 202 pts; Nifty ends below 12,050; PSU bank, pharma stocks bleed
P-note investments continue to drop, hit nearly 11-year low till Dec-end
Investments in the Indian capital market through participatory notes (P-notes) continue to decline and hit a nearly 11-year low of Rs 64,537 crore till the end of December 2019. P-notes are issued by registered foreign portfolio investors (FPIs) to overseas investors who wish to be part of the Indian stock market without registering themselves directly. They, however, need to go through a due diligence process.
SpiceJet inducts two A 320 planes
Price as on 17 Feb, 2020 03:12 PM, Click on company names for their live prices.
Top 10 gainers in afternoon trade
Price as on 17 Feb, 2020 03:06 PM, Click on company names for their live prices.
Tata Power plans to have 700 EV charging stations by 2021; stock still down 3.6%
Shares of Tata Power continued to remain under pressure, down 3.6 per cent in trade, even as the company said it was planning to increase its network of electric vehicle charging stations to 700 by next year, a top company official said. The company has already installed 100 fast-charging stations in various cities, including Delhi, Mumbai, Bengaluru, Pune and Hyderabad, which it plans to take to 300 by March 2020.
Vodafone Idea, YES Bank and Sun TV off day's highs
Mishra Dhatu, Muthoot Finance among stocks hitting 52-week highs
Tata Motors board to hold a meeting on February 24 to discuss NCD issues aggregating Rs 500 crore
The auto maker said it is desirous of offering rated, listed, unsecured, redeemable, non-convertible debentures, aggregating Rs 500 crore in two tranches. In this
regard, it is "holding a meeting of its duly constituted committee of the board on February 24. The issuance is pursuant to the approval of the board of directors' resolution passed at the meeting held on October 25, 2019," the company said.
I am very optimistic about the market taking up all the divestment offers because we have to understand that most of the divestment happens from good PSUs. They are not from loss making or debt companies. Only those companies which are already listed or should get listed and which have been doing well in the sectors, have a good future ahead. They are the ones who are tapping the market and therefore the market is going to definitely invest in those companies.
- Prithvi Haldea, Prime Database
Tata Elxsi partners Tata Motors for unified connected vehicle platform development
Design and technology services firm Tata Elxsi on Monday announced partnership with group firm Tata Motors for developing a unified connected vehicle platform. The partnership will aid Tata Motors, which is in the process of offering connected vehicle feature as a key differentiator to most of its BS-VI range of passenger and commercial vehicles, the company said in a statement.
Reliance Infra shares rise 5% on strong results
Price as on 17 Feb, 2020 01:20 PM, Click on company names for their live prices.
Shares of Mishra Dhatu Nigam (Midhani) hit upper circuit limit of 20 per cent in Monday’s session after the company in its analyst call on Friday said it expects much higher growth in the March quarter compared with the previous quarters.
Price as on 17 Feb, 2020 11:52 AM, Click on company names for their live prices.
NCLAT gives approval to JSW Steel to acquire Bhushan Power
The National Company Law Appellate Tribunal on Monday allowed JSW Steel to acquire of Bhushan Power & Steel Ltd for Rs 19,700 crore by providing it immunity from prosecution. A two-member bench headed by Chairman Justice S J Mukhopadhaya, said that JSW Stwel will be immuned from the acts done by the former promoters of the Bhushan Power & Steel Ltd.
Glenmark Pharma cracks 8% post Q3 results
Price as on 17 Feb, 2020 11:29 AM, Click on company names for their live prices.
LIC IPO will see rise in new Demat accounts: Amar Ambani
LIC IPO will see huge retail demand and trigger a Big rise in new Demat accounts in the system. #stocks #stockmarket #investments
Shares of Vodafone Idea jumped over 18 per cent in Monday’s trade after the company said it is accessing the AGR amount it needs to pay and will pay the amount “so assessed” in the next few days. People with the knowledge of the matter told ET that the company has assessed its adjusted gross revenue (AGR) dues at about half the amount that the Department of Telecommunications (DoT) has demanded.
Shares of LIC Housing Finance cracked 12 per cent in Monday’s early trade after reports that the country’s biggest institutional investor Life Insurance Corporation of India (LIC) may speed up the process of merging its housing finance arm with IDBI Bank. At present, the market capitalisation of LIC Housing Finance and IDBI Bank is hovering at Rs 18,700 crore and Rs 37,214 crore. LIC holds 51 per cent stake in IDBI Bank and 40.13 per cent in LIC Housing Finance, according to BSE.
Moody's cut 2021 GDP growth forecast to 5.8% from 6.7% earlier
Moody's on India: Any recovery in India may be slower than expected earlier, reports Cogencies
Shyam Sekhar on a possible reclassification by Sebi
The Reclassification Ver 2.0 is likely to happen today. In my view, value destruction due to behavioral biases is o… https://t.co/csjHCvaXJY
Voda Idea, YES Bank, SAIL among most active stocks on NSE
Price as on 17 Feb, 2020 09:41 AM, Click on company names for their live prices.
Today, USDINR pair is expected to quote in the range of 71.20 and 71.80
- Motilal Oswal Financial Services
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OPENING BELL: Sensex rises 150 points, Nifty tops 12,150; Voda Idea soars 18%, Reliance Infra 7%
Pre-open session: Sensex rises 120 points, Nifty above 12,150; rupee trades at 71.44 against US dollar
Singapore trading sets stage for tepid start
Nifty futures on the Singapore Exchange traded 6 points, or 0.05 per cent, lower at 12,124.50, indicating a flat start for Dalal Street.
Tech view: Nifty forms Doji on weekly chart
NSE Nifty on Friday slipped below the 12,150 level and formed a small bearish candle on daily and an indecisive Doji candle on the weekly chart. The index has been moving in a broader range of 12,000-12,250 and any substantial breach on either side could be trend-setting, said analysts.
Asian stocks fall on global slowdown concerns
Asian shares stepped back from three-week highs on Monday as investors weighed the near-term hit on global growth from a fast-spreading coronavirus outbreak in China. Japan's Nikkei fell more than 1 per cent after data showed the country's economy contracted at an annualised pace of 6.3 per cent in October-December. Australian shares and South Korea's KOSPI index were each down 0.3 per cent.
US stocks to remain shut today
US markets will remain shut today on account of Washington's Birthday. On Friday, the S&P500 index rose 6.22 points, or 0.2 per cent, to 3,380.16. The Nasdaq Composite index gained 19.21 points, or 0.2 per cent, to 9,731.18. Both indices had been down most of the afternoon. The Dow dropped 25.23 points, or 0.1 per cent, to 29,398.08. European and Asian markets ended mixed.
China’s PBOC cuts MLF rate by 10 basis points
China's central bank cut the interest rate on its medium-term loans on Monday as policymakers try to reduce the economic shock from a coronavirus outbreak that is severely disrupting business activity. The People's Bank of China (PBOC) said it was lowering the rate on 200 billion-yuan ($28.65 billion) worth of one-year medium-term lending facility (MLF) loans to financial institutions by 10 basis points (bps) to 3.15 per cent from 3.25 per cent previously.
Oil prices edge lower in early trade
Oil prices edged lower on Monday as investors brace for economic data in Asia due this week that should give a reading on how China's coronavirus epidemic has affected oil demand. Brent crude was at $56.99 a barrel, down 33 cents after rising 5.2 per cent last week, the biggest weekly gain since September 2019. US West Texas Intermediate crude fell 13 cents to $51.92 a barrel, after a 3.4 per cent gain last week.
Singapore cuts 2020 GDP forecast
Singapore on Monday cut its 2020 growth and exports forecasts due to an expected economic blow from the new coronavirus outbreak, flagging the chance of a recession this year. The downgrade of its GDP forecast range to -0.5 per cent to 1.5 per cent, from 0.5 per cent to 2.5 per cent previously, opens up the possibility that full-year growth could be negative.
FIIs sell Rs 705 crore worth of stocks
Net-net, foreign portfolio investors (FPIs) were sellers of domestic stocks to the tune of Rs 705 crore on Friday, data available with NSE suggested. DIIs were net buyers to the tune of Rs 220 crore, data suggests.
Sensex on Friday
Markets spiralled lower for the second straight day on Friday as banking shares slumped after the Supreme Court took a strong note of telcos not complying with its order to pay Rs 1.47 lakh crore in statutory dues. The 30-share BSE Sensex fell by 202.05 points or 0.49 per cent to end at 41,257.74, with 22 of its constituents closing with losses.
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