Traders' Diary: Nifty sees immediate support at 9,440 level
In the 30-pack Sensex, 27 stocks ended in the green on Thursday
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RBI imposes Rs 6.50 crore penalty on 3 banks
The Reserve Bank of India (RBI) on Thursday imposed a penalty of Rs 6.50 crore on Karnataka Bank, Bank of India and Saraswat Co-operative Bank for non-compliance with central bank's Income Recognition and Asset Classification norms.
RIL-RE volumes jump to record 3.4 crore; price spurts 23%
The de-materialised trading of Reliance Industries-Rights Entitlement (RIL-RE) on Thursday recorded the highest daily volume and price rising by over 23 per cent, according to stock exchange data. On the penultimate day of trading. RIL-RE trading volumes spurted to 3.44 crore on Thursday, the highest daily volume since REs started trading from May 20.
Here’s who bought and sold what in some of the key bulk deals of the day. Investor Satpal Khattar sold 42.53 lakh shares of Sequent Scientific at Rs 84.26 per share. On the other hand, Sanatan Financial Advisory Services and Atul Goel bought 16.20 lakh shares and 21.25 lakh shares at Rs 84.27 and Rs 84.25, respectively, NSE data showed. Khattar had over 2 per cent stake in the company as of March 31.
Ceat Q4 results: Net profit falls 20% to Rs 52 crore
Tyre maker Ceat on Thursday reported a 19.58 per cent decline in consolidated net profit at Rs 51.72 crore for the fourth quarter ended March 31, 2020. The company had posted a net profit of Rs 64.32 crore in January-March quarter a year ago, Ceat said in a regulatory filing.
Sebi bans 2 entities from capital markets for four weeks
Sebi on Thursday barred BP Fintrade Pvt Ltd and BP Comtrade Pvt Ltd from capital markets for a period of four weeks for manipulative trading in the scrip of Blue Blends (India) Limited. It further said that the two entities will at all times exercise due care and caution while trading in market and adopting strategies that may have an impact on fair price discovery of the scrips.
Global Fintech Forum expands its footprint
Global Impact Fintech (GIFT) Forum has expanded its footprint with representation from 35 countries. It was formed as an international think tank that regularly deliberated on issues related to fintech and emerging digital financial services. It aims to be a representative and collaborative forum for the fintech ecosystem, to help drive financial, social and tech Inclusion across the world.
Bonds have much more money invested in them worldwide than in equities, but don’t get the column inches they deserve. That’s because bond returns don’t appear as spectacular as those in stocks, but in stressful times, they are good bets - more so if state backed. So, the latest Bharat Bond ETF issue will likely draw investors, who should earn 150 basis points more than the yields on existing tax-free debt.
Dow Jones opens higher as Boeing resumes 737 MAX production
The S&P 500 and Dow Jones indexes opened higher on Thursday, boosted by Boeing shares as the planemaker resumed production of its 737 MAX jets, but simmering tensions between the United States and China kept investors on edge.
FIIs’ holding in Nifty-500 stocks drops to 5-year low
With sharp decline in the market on the back of the Covid-19 pandemic, foreign institutional investors’ (FII) holding in the Nifty-500 stocks dropped to a five-year low, while domestic institutional investors (DIIs) and promoters lapped up cheaper bets in the disruption caused by Covid-19, a study showed on Thursday.
HeidelbergCement India Q4 results: Profit up 9% to Rs 66 crore
HeidelbergCement India on Thursday posted 8.85 per cent rise in profit at Rs 66.29 crore for the fourth quarter ended March 2020 helped by cost optimisation efforts. The company had a net profit of Rs 60.90 crore in January -March a year ago, HeidelbergCement India said in a BSE filing.
VIX comes down further
The market’s fear gauge, India VIX, dropped 4 per cent to trade at 30 level. The volatility barometer lost 12 per cent in May series, falling for the second continuous series.
US internet giant Google eyes stake in Vodafone Idea: Report
Weeks after Mukesh Ambani's Jio secured more than $10 billion in investment from Facebook and few US-based private equity groups, Google is said to be exploring an investment in Vodafone Idea, the Financial Times has reported. The move could potentially pit the search giant against Facebook for the world’s fastest-growing mobile market.
Forced lending to cripple banks; NPAs to soar by up to 600 bps in 2 years: Fitch
With incremental bank lending making up the bulk of the government's nearly Rs 21 lakh crore stimulus package, lenders face significant asset quality challenges which can increase their dud loan ratios by up to 6 percentage points over the next two years, warns a report.
Stocks that hit upper circuit limits
Over 280 stocks kissed their upper circuit limits set by BSE during the day. They included Avenue Supermarts, Delta Corps, Mahindra CIE Automotive, Future Retail, Venky’s, Reliance Power, KPIT Tech and Lemon Tree, among others.
Metals, realty gain for 3rd day
Nifty Realty and Nifty Metal indices rose for the third straight day, as investors are hoping for a pickup in demand. Nifty Realty gained 2.55 per cent, led by up to 6 per cent jump in Sunteck Realty, DLF, Brigade Enterprises and Prestige Estates. Similarly, Nifty Metal Index added 2.4 per cent, pushed by up to 7 per cent gains in Ratnamani, Welcorp, NMDC, Jindal Steel and Hindalco.
Sustained trade above 9,475 will extend rally to 9,580-9,660 levels: Aditya Agarwala
"A sustained trade above 9,475 in the coming sessions will extend the rally to 9,580-9,660 levels," said Aditya Agarwala, Senior Technical Analyst at YES Securities. He, however, said if the bears push the index below 9,430, selling pressure would drag it lower to 9,350-9,300 levels.
Welspun Enterprises to raise Rs 175 crore through allotment of NCDs
Welspun Enterprises on Thursday said its board has given its nod to raise Rs 175 crore through allotment of NCDs on a private placement basis. The allotment was approved by the company's board of directors on Wednesday, it said.
CLOSING BELL: Sensex gains for 2nd day, rallies 595 pts; Nifty ends May F&O series at 9,490; L&T surges 6%
Financials and RIL lead market rally
27 of 30 Sensex stocks end the day in the green
Index contributors: HDFC Bank, HDFC, RIL, L&T, ICICI Bank
Top Index gainers: L&T (5.88%), Hero Moto (5.23%), HDFC Bank (4.79%)
Top Index losers: ITC (0.55%), SBI (0.47%), Airtel (0.34%)
All BSE sectoral indices end the day in the green
S&P BSE CAPITAL GOODS biggest sectoral gainer, up 5.11%
S&P BSE Healthcare biggest sectoral loser, up 0.06%
Volume toppers: HDFC Bank, IndusInd Bank, Axis Bank, RIL, SBI
Sensex jumps 600 points, trades at day's high
Most realty stocks trading in the green; Nesco surges 13%, Indiabulls down 4%.
Price as on 28 May, 2020 03:11 PM, Click on company names for their live prices.
The company said the one-off non-cash charge was Rs. 664 crore. Quess Corp’s revenues grew nearly 30% to Rs.2995 crore during the quarter.
Bank Nifty up over 2%. Here are the top performing stocks
S&P BSE CAPITAL GOODS gains over 4%. This is how the index has performed in the last 3 months
IDFC First Bank launches video KYC facility for customers to open savings accounts
Price as on 28 May, 2020 02:03 PM, Click on company names for their live prices.
S&P BSE AUTO up over 3%, Eicher Motors surges 8%; all index stocks trading in the green.
Patanjali Ayurved's Rs 250 cr NCD issue fully subscribed within minutes of opening
Baba Ramdev-led Patanjali Ayurved's Rs 250 crore debentures issue got fully subscribed within three minutes of opening on Thursday. "This is historic that our maiden issue of Rs 250 crore NCD is fully subscribed within 3 minutes of opening of the issue... This shows the excitement and faith of investors,” said Patanjali Ayurved Managing Director Acharya Balkrishna.
Nikkei vaults past 200-day average, value shares snatched up
Japan's Nikkei share average jumped on Thursday, vaulting above a key technical resistance of its 200-day moving average, on hopes of a quick economic normalisation, with investors snatching up deeply discounted stocks such as financials. The Nikkei average gained 2.32% to 21,916.31, rising above a major chart point of the 200-day moving average at 21,657. The broader Topix gained 1.80% to 1,577.34. Both indexes hit their highest levels since late February.
IMD says onset of monsoon in Kerela likely on June 1-2: Agencies
Expect large private banks to capture market share from NBFC: Nippon India MF
Here are the top gainers in the cement sector
Price as on 28 May, 2020 12:58 PM, Click on company names for their live prices.
Forex Center: This is how the major currencies are trading against each other
Senior Congress leader P Chidambaram on Thursday hit out at the government for discontinuing the RBI Bonds scheme, saying it is another "cruel blow" to the citizens. He said the government has dealt another blow to the citizens who save, especially senior citizens, as it has discontinued the 7.75 per cent RBI Bonds.
Sensex up over 500 points, Nifty above 9,400. Track the movement of the 30-pack Sensex in the morning session
Price as on 28 May, 2020 12:07 PM, Click on company names for their live prices.
One should really see the momentum for a couple of days but given the dynamics of our own country and the way the financial sector is going to behave in the next three to six months, it looks like a difficult case for a sustainable rally but we can hope for some revival at least in the near term.
This is how the power stocks are performing; Tata Power up 4%, GE Power 2%
Price as on 28 May, 2020 11:35 AM, Click on company names for their live prices.
Singapore Telecommunications Ltd's annual net profit plummeted about 65% to the lowest in more than two decades and it did not provide forecasts for the current year, citing uncertainty due to the COVID-19 pandemic. Results were hit due to a S$1.80 billion charge related to its Indian associate Bharti Airtel Ltd's payouts for spectrum charges and licence fees.
Sensex jumps 500 points: Here are the top index gainers
Rupee down 4 paise against the US dollar. This is how the currency has performed against the greenback in the last 3 months
S&P BSE CAPITAL GOODS up nearly 3%; BHEL, HAL gains 6% each. Here are the top index performers
Price as on 28 May, 2020 11:02 AM, Click on company names for their live prices.
Ujjivan Financial Services surges 10% on 80% jump in Q4 profit
Shares of Ujjivan Financial Services climbed 10 per cent in Thursday's trade after the NBFC reported an 80 per cent jump in consolidated March quarter profit at Rs 77.43 crore. The company had posted a net profit of Rs 43.15 crore for the same quarter of 2019.
S&P BSE BANKEX biggest sectoral gainer, up 3%. This is how the index stocks are faring
S&P projects Indian economy to contract 5% in FY'21
S&P Global Ratings on Thursday forecast Indian economy to contract 5 per cent in the current fiscal as the lockdown imposed to contain COVID-19 pandemic has curtailed economic activity severely. "We have lowered our growth forecast for fiscal year ending March 2021 to a 5 per cent contraction. We currently assume that the outbreak peaks by the third quarter," S&P said in a statement.
Sensex jumps 400 points, here are the top contributors!
I-Sec maintains BUY rating on Dabur post Q4 numbers
"Dabur seems to be trying to convert adverse circumstances into opportunity by leveraging Dabur brand in hygiene & healthcare themes. We expect flat sales growth in FY21 and strong 16% recovery in FY22E considering its strong rural presence (targeting direct reach of 60,000 villages) that may see higher growth with migrants moving back and increase in government welfare spend. We maintain BUY with a target price of Rs 520/share," said ICICI Securities.
If Nifty stays above 9,350, it can test 9,700 in June series: Deen Dayal Investments
"The markets opened above the crucial 9350 level and we need to hope it stays above those levels for a couple of trading sessions. If we are successful in doing that, the Nifty50 should attempt 9700 levels in the June series itself. The support range of the market has now been upgraded to 9000 - 9050 levels," said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.
Nifty reclaims 9,400-mark
Podcast: What might matter on D-Street today
Voda Idea, Tata Motors, Axis Bank among most active stocks on NSE
Price as on 28 May, 2020 09:27 AM, Click on company names for their live prices.
OPENING BELL: Sensex rises 200 points, Nifty above 9,350; L&T, ICICI Bank gain 2% each
Lupin, Ceat, Federal Bank, TVS Motor Company, IIFL, Muthoot Capital, Radico Khaitan, Rain Industries, Tata Steel Long Products and Benaras Hotels, are among companies that are slated to announce their March quarter results today.
SGX Nifty signals positive start
Nifty futures on the Singapore Exchange traded 47.90 points, or 0.51 per cent higher at 9,359 in signs that Dalal Street was headed for a positive start on Thursday.
Tech view: Nifty forms bullish candle
Nifty50 took support at its 50-day moving average, whose value stood at 9,006 at Wednesday's close.The NSE barometer also closed above its 20-day moving average, which analysts said is a positive signal. Going ahead, the index may face resistance at 9,500 level and have support near 9,250, said analysts.
Market-wide rollovers at 74%
Market-wide rollovers till Wednesday stood at 74 per cent. Nifty rollovers stood at 61 per cent compared with the average rollovers of 57 per cent in the last three F&O series. Stock rollovers at 77 per cent were also higher than the average rollovers of 75 per cent seen in the last three F&O series.
Oil drops on worse than feared rise in US fuel stocks
Oil prices fell after US crude, gasoline and heating oil inventories all rose more than expected, dousing hopes of a smooth recovery in demand from coronavirus lockdowns. The decline extended losses from Wednesday on uncertainty about Russia's commitment to deep oil production cuts in the lead-up to a June 9 meeting of the OPEC and its allies, dubbed OPEC+. Brent crude futures last traded down 2.3%, or 78 cents, at $33.96.
Tech view: Brent oil may fall into $32.23-$33.21 range
Brent oil may fall into a range of $32.23-$33.21 per barrel, as suggested by its wave pattern and a projection analysis. The zone is formed by 186.4% and the 200% projection levels of an uptrend from $18.73. A longer trend from the April 22 low of $15.98 could be broken down into five waves. This structure, along with the drop on Wednesday, confirms the reversal of the trend, Reuters reported.
Asian stocks gain on economic hopes, Hong Kong remains a risk
Asian shares rose as growing optimism about economic recovery from the coronavirus pandemic trumped immediate concerns about a standoff between the United States and China over Hong Kong. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.5%. Australian shares rose 1.86% to the highest in more than two months, while Japan's Nikkei stock index rose 1.28% to the highest since early March as investors cheered the re-opening of economic activity in both countries.
US indices rally up to 2%; Dow Jones tops 25,500
US stocks ended higher on Wednesday as investors weighed the possibility of normalizing economic activities. The Dow Jones Industrial Average surged 553.16 points, or 2.21 per cent, to 25,548.27. The S&P 500 rose 44.36 points, or 1.48 per cent, to 3,036.13. The Nasdaq Composite Index was up 72.14 points, or 0.77 per cent, to 9,412.36
Sensex, Nifty on Wednesday
The Sensex rallied 996 points while the Nifty surged past the 9,300-mark on Wednesday as investors piled into banking, finance and IT counters ahead of the expiry of monthly derivatives contracts. After hitting a high of 31,660.60 during the day, the 30-share BSE Sensex settled 995.92 points or 3.25 per cent higher at 31,605.22. Similarly, the broader NSE Nifty surged 285.90 points or 3.17 per cent to 9,314.95.