Sensex gave positive returns in Feb in 5 out of 10 years; what does 2019 hold?

It looks like bulls and bears battle it out on Dalal Street in the month of February, which is usually marred by Budget volatility. Historical data shows Sensex gave positive returns in February in 5 out of last 10 years.

During the last 10 years, S&P BSE Sensex rallied the most in February 2014 rising 4.5 percent, followed by a 2.6 percent up move seen in 2012, and 2.1 percent gain in 2017, data collated by Ace Equity showed.

On the other hand, in past 10 years, Sensex fell the most in 2016 when it plunged over 7 percent, followed by 4.8 percent drop in 2018 and 4.6 percent fall in 2013.

This month, the sentiment on D-Street has been positive from day 1 after the Interim Budget when Nifty rose beyond 10,900, which is a strong sign as it has put bears on the back foot for now.

Source:https://www.moneycontrol.com/news/business/markets/sensex-gave-positive-returns-in-feb-in-5-out-of-10-years-what-does-2019-hold-3485291.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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Volatile trade continues on D-St; Nifty below 10,650; metal stocks outshine

Market Update: Benchmark indices are trading flat with Sensex up 11.97 points or 0.03% at 35604.47, and the Nifty down 7.40 points or 0.07% at 10644.80.
About 1127 shares have advanced, 929 shares declined, and 106 shares are unchanged. 

Market Opens: It is a strong start for the Indian indices on Wednesday with Nifty is trading around 10,700.

At 09:17 hrs IST, the Sensex is up 148.83 points at 35741.33, while Nifty is up 41.10 points at 10693.30. About 472 shares have advanced, 299 shares declined, and 35 shares are unchanged. 

Axis Bank, HCL Tech, Bank of Baroda, Bajaj Finserv, Indiabulls Housing, Yes Bank, ICICI Bank are among major gainers on the indices, while losers include Adani Ports, BPCL, HDFC Bank, Hero Moto, Dr Reddy's Lab.

Rupee Opens: The Indian rupee opened lower by 25 paise at 71.36 per dollar on Wednesday against Tuesday's close 71.11.

Source:https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-volatile-trade-continues-on-d-st-nifty-below-10650-metal-stocks-outshine-3453021.html

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Finance Ministry may sell part of SUUTI holding in Axis Bank, ITC

The Finance Ministry may consider selling part of its stake in Axis Bank and ITC, held through SUUTI, in next few months, an official said.

As on September 30, 2018, Specified Undertaking of Unit Trust of India (SUUTI) held around 9.63 percent stake in Axis Bank, 7.97 percent in ITC and 1.80 percent in L&T.

While the government is waiting for L&T to launch a buyback offer to tender its shares; for holding in Axis Bank and ITC, it would consider off-market deals, an official said.

"We are open to selling stake in Axis Bank and ITC through bulk or block deals. It all depends on the valuation," the official told PTI.

Shares of Axis Bank settled at Rs 666.50, up 0.53 percent, while ITC was up 2.02 percent at Rs 295.40 at close of market hours on January 11.

A bulk deal is a deal in which more than 0.5 percent of the total number of shares of a listed company are sold or bought by a single investor in the open market. In a block deal, two parties make a transaction involving shares worth at least Rs 5 crore. Block deal transactions are conducted in a separate trading window.

Infrastructure major Larsen & Toubro (L&T) has already approached market regulator Sebi for launching a share buyback programme. The government would participate in the buyback programme, and is expecting to get around Rs 700 crore.

The government had sold 2.5 percent stake in L&T held through SUUTI in June 2017 through block deals in the market.

In February 2017, the government had raised Rs 6,700 crore through sale of 2 percent stake held through SUUTI in tobacco-to-FMCG firm ITC.

In November 2016 it sold 1.63 percent in L&T, while in March 2014 it had sold 9 percent stake in Axis Bank to raise Rs 5,500 crore through block deals.

SUUTI holdings in ITC, Axis Bank and L&T are also part of Bharat 22 exchange-traded fund (ETF).

The government, which has set a divestment target of Rs 80,000 crore for 2018-19, has so far raised over Rs 34,000 crore.

Source:https://www.moneycontrol.com/news/business/finance-ministry-may-sell-part-of-suuti-holding-in-axis-bank-itc-3384471.html

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Sensex has grown 100 time in 32 years! Many stocks could turn multibaggers in 2019

What an eventful year it has been for the markets. Earnings, which were expected to be robust didn’t turn out to be so. A plethora of events rocked the markets, to start with - introduction of LTCG in the last Budget spooked the sentiment.

SEBI’s MF small cap classification decimated the companies which had a market-cap of less than Rs 8,000 crores. Bank frauds, NBFC crisis, trade wars, high crude prices, slumping rupee, RBI-govt tussle further wreaked havoc in the markets.

The year 2018 could well be termed as a bull market speed-breaker which was required to eradicate the crazy greed and inane complacencies of the retail investors.

Source: https://www.moneycontrol.com/news/business/markets/sensex-has-grown-100-time-in-32-years-many-stocks-could-turn-multibaggers-in-2019-3353531.html

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Closing Bell: Sensex ends over 350 points lower, Nifty gives up 10,800; autos, metal drag

Market at Close Equities have ended the session off low points, but still in the red. Weak global and domestic cues weighed on the indices. The Nifty managed to give up 10,800.

Weakness was visible among automobiles, banks, energy, metals and pharmaceuticals. The Nifty Midcap index, too, fell over a percent during the trade.  

At the close of market hours, the Sensex was down 363.05 points or 1.00% at 35891.52, while the Nifty down 117.60 points or 1.08% at 10792.50.

The market breadth is negative as 941 shares advanced, against a decline of 1,577 shares declined, while 169 shares were unchanged.

Sun Pharma and TCS were the top gainers, while Vedanta, M&M, Eicher Motors and JSW Steel lost the most.  

Source:https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-sensex-recovers-from-lows-nifty-around-10800-metal-stocks-lose-shine-3344731.html

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Financials' rally boosts Sensex by over 300 points; Nifty eyes 10,900

Market opens The Nifty has begun January series above 10,800, while the Sensex is higher by over 150 points. 

All sectoral indices, barring metals, are trading in the green, with maximum gains visible among banks, pharmaceuticals and automobiles. The Nifty Midcap index is up half a percent.  

The Sensex is up 163.11 points or 0.46% at 35970.39, while the Nifty is higher by 46.90 points or 0.44% at 10826.70. The market breadth is positive as 318 shares advanced, against a decline of 107 shares, while 23 shares were unchanged.

Asian Paints, Vedanta, Titan and Yes Bank gained the most, while Coal India, ONGC and BPCL lost the most. 

RUPEE OPENS The Indian rupee opened higher/lower at 70.05 per US dollar. This is an appreciation of 30 paise in the currency market.

Source: https://www.moneycontrol.com/news/business/markets/market-live-financials-rally-boosts-sensex-by-over-300-points-nifty-eyes-10900-3331801.html

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Sensex plunges 400 points, Nifty around 10,550; crude oil prices near $50/bbl

Market opens It is a negative start on D-Street, with the Sensex falling over 150 points, while the Nifty tested 10,600.

The Sensex is down 155.73 points or 0.44% at 35314.42, while the Nifty is down 51.00 points or 0.48% at 10612.50. The market breadth is negative as 223 shares advanced, against a decline of 259 shares, while 39 shares were unchanged.

All sectoral indices are trading in the red, with maximum cuts visible among automobiles, IT, metals and pharma seeing the most pain. The Nifty Midcap index is almost half a percent lower. 

Asian Paints, Yes Bank, IOC and BPCL were the top gainers, while HUL, Tata Steel, and Hindalco lost the most. 

ASIA UPDATE Global stock markets were heading into the year-end under a heavy cloud after another rout this week as US political uncertainty added to heightened concerns over slowing global economic momentum.

Asian equities were shaky on Wednesday following the plunge in Wall Street on Christmas eve in the face of a series of unnerving US political developments, including a US federal government shutdown and President Donald Trump’s increasingly hostile stance toward the Federal Reserve chairman.

US Treasury Secretary Steven Mnuchin had also raised market concerns by convening a crisis group amid the pullback in stocks.

S&P 500 e-mini futures were effectively flat, pointing toward a subdued start for Wall Street when the US market reopens after Christmas Day, when many of the world’s financial markets were shut.

Source: https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-sensex-plunges-400-points-nifty-around-10550-crude-oil-prices-near-50bbl-3324531.html

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Sensex sinks 900 pts; rupee hits 74/$ for first time as RBI holds rates

The market is not showing any sign of recovery as it has been falling sharply for third consecutive session.

The 30-share BSE Sensex fell 465.99 points or 1.32 percent to 34,703.17, taking total fall to more than 4,000 points from its record high touched on August 28.

The 50-share NSE Nifty fell 185.20 points or 1.75 percent to 10,414.10.

RBI said while the projections of inflation for 2018-19 and Q1FY20 have been revised downwards from the August resolution, its trajectory is projected to rise above the August 2018 print.

The outlook is clouded with several uncertainties like minimum support price announced by the government, rising crude oil prices, volatility in global financial markets, sharp rise in input costs, fiscal slippage if any and staggered impact of HRA revision by the state governments.

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Source:https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-sensex-sinks-900-pts-rupee-hits-74-for-first-time-as-rbi-holds-rates-3015141.html

NCDEX SUPPORT & RESISTANCE LEVEL (18 SEP 2018)

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D-Street continues to be volatile amid weak rupee, high crude prices; Nifty around 11,500

Selloff in banks, FMCG, metals as well as names in the midcaps space are weighing on indices. Higher crude oil prices as well as a bearish rupee continue to spook investors.

After witnessing a positive opening, the rupee has resumed its downward momentum, and hit a fresh record low 71.72.

The currency had opened higher by 18 paise at 71.40 per dollar against its previous close 71.58. It plunged 37 paise to end at a record low of 71.58 on Tuesday.

“The rupee continues to make a new record low on account of crisis in the emerging market currencies.

Further consistent rise in the crude oil prices and dollar index has kept sentiments bearish. There are talks of rupee moving towards 72-73 levels hence there is lot of speculative dollar buying in the market which is driving the currency lower every day,” Rushabh Maru - Research Analyst at Anand Rathi Shares and Stock Brokers said in a statement.

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Source:https://www.moneycontrol.com/news/business/markets/market-live-d-street-continues-to-be-volatile-amid-weak-rupee-high-crude-prices-nifty-around-11500-2917841.html

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Indian rupee at fresh record low, breaches 71 for the first time

Rupee opened at a fresh record low of 70.95 per dollar versus previous close 70.74

The Indian rupee breached the 71 mark for the first time in the morning trade Friday. It has opened at a fresh record low of 70.95 per dollar versus previous close 70.74.

Yesterday the rupee ended at fresh life time low of 70.74 the dollar due to month-end demand for the US currency from importers and rising crude oil prices.

However, during the day the rupee slipped to a record low of 70.90 to a dollar.


VK Sharma, Head Private Client Group & Capital Market Strategy at HDFC Securities said, “Indian Rupee has depreciated around 11% year to date. Higher crude oil prices, demand from defense and oil marketing firms have contributed to the latest bout of weakness."

Rupee was overvalued on trade weighted real effective exchange rate. We are not overly concerned about the rupee beyond 72 level. Robust FDI flows in e-commerce companies, healthy forex reserves may limit the downside of the rupee,” he added.

On Thursday, rupee fell to fresh record low levels of 70.80 in the intraday session. The currency in the last few sessions has come under pressure following dollar demand by oil marketing companies and defence related buying. Apart from domestic dollar demand, weakness in Asian currencies also weighed on the rupee, said Motilal Oswal.

Yesterday, Turkish Lira fell by over 5% as resignation of the deputy central bank governor intensified market concerns over the direction of monetary policy. On the other hand, Argentina Peso fell after its central bank raised rates to 60% as it struggles to repay heavy government borrowing.

For the day, rupee is expected to quote in the range of 71 and 71.50 (Sept), it added.

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Source: https://www.moneycontrol.com/news/business/markets/indian-rupee-at-fresh-record-low-breaches-71-for-the-first-time-2901061.html

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