Closing Bell: Nifty ends close to 10,750, Sensex up 403 pts; metal, oil stock in focus

Market at close: Indian indices bounced back and broke the 8-day losing streak on Wednesday with Nifty ended near to 10,750 mark helped by metal, IT and oil & gas stocks.

The Sensex was up 403.65 points at 35756.26, while Nifty was up 131.10 points at 10735.50. About 1468 shares have advanced, 1107 shares declined, and 161 shares are unchanged. 

Top gainers include Indiabulls Housing, Vedanta, Tata Steel, Adani Ports and Hindalco Industries, while losers are Zee Entertainment, Hero Motocorp, Dr Reddy’s Labs, HUL and Bajaj Auto.

All the sectoral indices ended in green led by metal, IT, energy, infra, bank, pharma and auto stocks.

Source:https://www.moneycontrol.com/news/business/markets/closing-bell-nifty-ends-close-to-10750-sensex-up-403-pts-metal-oil-stock-in-focus-3560501.html

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Nifty below 10,700, Sensex down over 100 pts; DHFL gains 6%

Market Opens: It is a flat start for the benchmark indices on Monday with Nifty holding above 10,700 mark.

The Sensex is up 38.58 points at 35847.53, while Nifty is up 6.60 points at 10731. About 460 shares have advanced, 395 shares declined, and 52 shares are unchanged. 

L&T, Rel Infra, Reliance Capital, Biocon, Tata Steel, Infosys, Vedanta, Dr Reddy's Lab, Tech Mahindra, Wipro, ONGC, are among major gainers, while losers are Yes Bank, Tata Motors, HUL, M&M, UPL and Grasim.

Rupee Opens: The Indian rupee opened lower at 71.31 per dollar on Monday versus Friday's close 71.22.

Source:https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-nifty-below-10700-sensex-down-over-100-pts-dhfl-gains-6-3549371.html

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Small & midcap buzzers: FIIs, DIIs raised stake in five stocks consistently in 2018

In the third quarter of FY19, foreign institutional investors (FIIs) have been net sellers in the Indian equity market.

Out of the 425 BSE companies that have made public their shareholding data, 256 have reported FIIs to be sellers and only 169 companies have seen FIIs to be net buyers, Narnolia Securities said in a report.

“The net selling by FIIs had been on the backdrop of volatile crude price and depreciating rupee. The strengthening dollar and rising US yields also aided the cause. DIIs (domestic institutional investors), on the other hand, have increased stakes in 263 companies and decreased stakes in 172 companies in Q3 2019,” the report said.

Meanwhile, foreign investors raised their stake consistently in as many as five companies mostly from the small & midcap space, which are — HOEC, Mangalore Refinery & Petrochemicals, Minda Corporation, NHPC and Sundaram-Clayton.

Source:https://www.moneycontrol.com/news/business/markets/small-midcap-buzzers-fiis-diis-raised-stake-in-five-stocks-consistently-in-2018-3536691.html

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Closing Bell: Nifty manages to end above 10,900, Sensex gains 113 pts; RIL market-cap above Rs 8 lk cr

Market at close: Benchmark indices bounced from the day's low to end on positive note with Nifty closed above 10,900 level.

The Sensex was up 113.31 points at 36582.74, while Nifty was up 18.60 points at 10912.30. About 799 shares have advanced, 1757 shares declined, and 172 shares are unchanged. 

Reliance Industries, ONGC, Bajaj Auto, TCS and Kotak Mahindra Bank are the top gainers on the Sensex, while losers include Yes Bank, Power Grid, NTPC, Sun Pharma and M&M.

Among sectors, infra, auto, metal, FMCG and pharma witnessed selling pressure, while some buying saw in bank, energy and IT stocks.

Source:https://www.moneycontrol.com/news/business/markets/closing-bell-nifty-manages-to-end-above-10900-sensex-gains-113-pts-ril-market-cap-above-rs-8-lk-cr-3477221.html

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DHFL falls 13% even as co divests majority stake in Aadhar Housing Finance to Blackstone

Shares of Dewan Housing Finance (DHFL) fell 13 percent in the morning trade, even as the company decided to divest its stake in Aadhar Housing Finance to Blackstone.

The stock touched a 52-week low of Rs 97.00. It touched an intraday high of Rs 111.15 and an intraday low of Rs 97.00.

Private equity major Blackstone agreed to buy nearly 80 percent of affordable homes-focused Aadhar Housing Finance from the financially stretched Wadhawan group for an undisclosed sum.

The group's holding company Wadhawan Global Capital (WGC) will be selling its 70 percent stake in the company, while its listed mortgage lender subsidiary DHFL will also be exiting its investment, which is reported to be around 9 percent, as per a company statement on February 2.

The deal comes days after the group was alleged to have syphoned off over Rs 31,000 crore of public money as reported by news portal Cobrapost, which claimed loans were taken from DHFL and the money taken out of the country by the Wadhawans.

The group has denied all the allegations, even as the DHFL stock plunged since then.

At 09:36 hrs Dewan Housing Finance Corporation was quoting at Rs 106.70, down Rs 4.75, or 4.26 percent.


Source: https://www.moneycontrol.com/news/business/markets/dhfl-falls-13-even-as-co-divests-majority-stake-in-aadhar-housing-finance-to-blackstone-3477691.html

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Vedanta plunges 18% as brokerages downgrade stock on its Anglo American investment

Shares of Vedanta fell around 18 percent on Friday morning as investors turned wary of the stock after financial results.

The touched a 52-week low of Rs 162.05. It touched an intraday high of Rs 180.50 and an intraday low of Rs 162.05.

Vedanta has reported a 21 percent on year decline in third quarter consolidated profit to Rs 1,574 crore due to lower commodity prices and shutdown of copper smelter at Tuticorin.

Revenue from operations during the quarter dropped 2.8 percent to Rs 23,669 crore compared to year-ago. The sequential profit was up 17 percent and revenue up 4 percent.

Revenue was lower mainly on account of shutdown of copper smelter at Tuticorin and lower commodity prices, partially offset by currency depreciation and higher volumes at Electrosteel and aluminium business," Vedanta said.

At operating level, EBITDA (earnings before interest, tax, depreciation and amortisation) declined 11 percent year-on-year to Rs 5,953 crore, but sequentially EBITDA increased 13 percent and margin expanded 300 bps QoQ to 29 percent.

Source:https://www.moneycontrol.com/news/business/markets/vedanta-plunges-18-as-brokerages-downgrade-stock-on-its-anglo-american-investment-3467591.html

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Closing Bell: Nifty ends January series above 10,800; Sensex surges 665 points

Market at close: Benchmark indices posted handsome gains on the F&O Expiry day and ahead of Budget, which to be declared on February 1.

At the close, the Sensex was up 665.44 points at 36256.69, while Nifty was up 179.20 points at 10831. About 1403 shares have advanced, 1138 shares declined, and 131 shares are unchanged. 

Axis Bank, Infosys, Tata Motors, GAIL and Titan Company are among major gainers on the Nifty, while losers are Yes Bank, Bajaj Finserv, Zee Entertainment, Indiabulls Housing and HCL Tech.

All the sectoral indices ended in green led by Energy, Metal, Bank, Auto, IT, Infra and FMCG.

Source:https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-indices-extend-gains-on-expiry-day-nifty-at-10830-sensex-up-over-650-points-3459401.html

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Nifty forms 'Doji' pattern, may consolidate unless index breaks 10,985 on upside

The Nifty50 closed rangebound session on a positive note Thursday and formed a 'Doji' kind of indecisive formation on daily candlestick charts. Positive global cues and the rally in Reliance Industries, TCS, HDFC and ITC helped the benchmark index end higher.

The 8 percent rally in Yes Bank after the appointment of Ravneet Singh Gill as new MD & CEO also lifted sentiment.

A 'Doji' is formed when the index opens and then closes approximately around the same level. However, it remains volatile throughout the trading day which is indicated by its long shadow on either side. The candle appears like a cross or a plus sign.

A Doji usually means indecisiveness among the bulls as well as bears, hence there could be some consolidation in coming sessions before directional move on either side, experts said.

The Nifty50 after opening marginally higher immediately slipped into red and hit an intraday low of 10,798.65, followed by rangebound move. The index after consolidation gained strength in late trade and touched a day's high of 10,866.60. It closed 18.30 points higher at 10,849.80.

Interestingly Nifty appears to be taking support around its 100-day simple moving average (10,795) which in the past acted as a resistnace point.

"Inline with its recent behaviour Nifty50 once again attracted buying on a dip towards its critical short term support points which resulted in a Doji kind of indecisive formation with a slightly longer lower shadow hinting positive price action for the day," Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in told Moneycontrol.

He said lack of follow through selling to Wednesday's fall is suggesting that indices are caught up in a sideways zone and unless they emerge out if this sideways range a directional move will not emerge.

Today's bounce also coincided with the test of its 14-day old ascending channel support whose value is placed around 10,792 levels, he added.

Hence, he said in near term 10,790 appears to be a critical support breach of which may strengthen bearish sentiment for the short term with targets placed around 10,590 kind of levels where as upsides shall remain capped around 10,950.

Source:https://www.moneycontrol.com/news/business/markets/technical-view-nifty-forms-doji-pattern-may-consolidate-unless-index-breaks-10985-on-upside-3431151.html

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IT stocks surge as rupee extends fall to near 71.50/$

Shares of information technology (IT) companies rose in trade as the rupee saw some depreciation.

After falling to 71.34 per US dollar against its previous close of 71.18 per US dollar, the rupee has further extended its fall to nearly 71.50 per US dollar.

Rupee fell in the latter half of the session on Friday primarily as global crude oil prices continued to rally after supply cuts led by OPEC supported prices. OPEC issued a list of oil production cuts by its members and other major producers for six months starting on January 1 to boost confidence in its oil supply reduction pact.

Last week, OPEC’s monthly report showed it had made a strong start in December before the pact went into effect, implementing the biggest month-on-month production drop in almost two years. Today, USD-INR pair is expected to quote in the range of 70.70 and 71.50, said Motilal Oswal.

A weaker rupee is seen as a positive cue for IT companies as it means better revenue.

Source: https://www.moneycontrol.com/news/business/markets/it-stocks-surge-as-rupee-extends-fall-to-near-71-50-3413801.html

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