Closing Bell: Sensex ends 117 points lower, Nifty holds 11,900; IT stocks gain

 

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The market close the volatile day on the negative side but off day's low after cabinet announcement under Modi 2.0.
At close, the Sensex was down 117.77 points at 39,714.20, while Nifty was down 23.10 points at 11,922.80. About 1020 shares have advanced, 1534 shares declined, and 155 shares are unchanged.
Yes Bank, ITC, Grasim Industries, Vedanta and Zee Entertainment were the top losers on the Nifty, while gainers were Tech Mahindra, Asian Paints, TCS, IOC and Britannia Industries.
Among sectors, PSU bank, metal, auto, infra and pharma witnessed selling pressure, while buying saw in the energy and IT space.

HEADLINES OF THE DAY

Crude update: Oil prices fell by more than 1% on Friday and were on track for their biggest monthly fall since November as trade conflicts spread and U.S. crude output returned to record levels.
Share price of P C Jeweller shed nearly 9 percent after company posted net loss in the quarter ended March 2019.
ONGC trades lower: Global brokerage firms remained positive on state-owned oil & gas exploration company ONGC despite a weak Q4 show, with CLSA expecting a big re-rating on the stock.
Glenmark Pharma fell 3%: Shares price of Glenmark Pharma fell 3 percent as global brokerage house CLSA downgraded the stock after March quarter earnings missed analyst estimates.

The crucial resistance for Nifty spot is now seen at 12080 and above this 12200 Support for the immediate term is now placed at 11800 next support will be 11640.

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Closing Bell: Nifty ends May series near 11,950, Sensex up 329 points; NTPC gains 3%.

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It is strong close for the May F&O series on Thursday with Nifty finished near 11,950 level.
At close, the Sensex was up 329.92 points at 39,831.97, while Nifty was up 84.80 points at 11,945.90. About 1236 shares have advanced, 1301 shares declined, and 153 shares are unchanged.
NTPC, Yes Bank, Bharti Airtel, Bajaj Finance and BPCL were among major gainers on the Nifty, while losers were Sun Pharma, M&M, Zee Entertainment, Eicher Motors and JSW Steel.
Among the sectors, auto, pharma and metal ended lower, while buying seen in the infra, IT, PSU bank and energy.

HEADLINES OF THE DAY
Berger Paints Q4: Profit up 4.9 percent at Rs 111.4 crore, compared to Rs 106.2 crore in the corresponding quarter of last fiscal. Revenue rises 13.4 percent at Rs 1,472 crore versus Rs 1,298.3 crore in the year-ago period.
Apollo Hospitals Enterprises Q4:
Net profit rose 28.6% at Rs 76.7 crore against Rs 59.6 crore and revenue up 16.3% at Rs 2,167.1 crore against Rs 1,863.4 crore.
EBITDA was up 24.2% at Rs 266 crore against Rs 214 crore, margin was at 12.3% versus 11.5%.
Godfrey Phillips India Q4: Net profit down 17.9% at Rs 35.4 crore against Rs 43.1 crore, revenue up at Rs 605.7 crore against Rs 541.9 crore, YoY.
DHFL clarified that it has not received any communication from the Enforcement Directorate.

The crucial resistance for Nifty spot is now seen at 12060 and above this 12200 Support for the immediate term is now placed at 11800 next support will be 11620.

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Closing Bell: Sensex ends 247 down, Nifty below 11,900; PSU banks close lower.

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Indian indices ended lower but off day's low on Wednesday ahead of F&O expiry on May 30.
At close, the Sensex was down 247.68 points at 39,502.05, while Nifty was down 67.70 points at 11,861.10. About 1051 shares have advanced, 1493 shares declined, and 156 shares are unchanged.
JSW Steel, SBI, Tata Steel, Cipla and Zee Entertainment were major losers on the Nifty, while gainers were Sun Pharma, Bharti Infratel, TCS, GAIL and HCL Tech.
Among the sectors, except IT all other indices are trading in the red led by PSU Bank, infra, auto, metal, energy, FMCG and pharma.
HEADLINES OF THE DAY
TCS and Scandinavian Airlines sign new partnership: Tata Consultancy Services has signed a new strategic partnership with Scandinavia's leading airline, SAS, the flag-carrier of Sweden, Norway and Denmark.
Adani Enterprises Q4 result: Consolidated net profit rose 50.5% at Rs 283.4 crore against Rs 188.3 crore, revenue up 35.5% at Rs 13,236 crore against Rs 9,767 crore, YoY.
V-Guard Industries gains post Q4 numbers: Shares of V-Guard Industries is trading higher after company reported Q4 net profit at Rs 59.2 crore against Rs 27.6 crore. Revenue was up 12.3% at Rs 742 crore versus Rs 661 crore, YoY.
Cadila Healthcare rises 4% post Q4 nos: Consolidated net profit was down 22.1% at Rs 460 crore, revenue was up 15.3% at Rs 3,771.2 crore. Operating profit or EBITDA down 6.4% at Rs 800.6 crore, margin was at 21.5 percent.
The crucial resistance for Nifty spot is now seen at 11960 and above this 12060 Support for the immediate term is now placed at 11600 next support will be 11480.

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Closing Bell: Sensex, Nifty end higher on a volatile day; Yes Bank gains 4%.

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The benchmark indices ended higher in the consolidation day. The Sensex was up 66.44 points at 39,749.73, while Nifty was up 16.40 points at 11,941.20. About 1416 shares have advanced, 1160 shares declined, and 154 shares are unchanged.
The gainers on Nifty were Zee Entertainment, Yes Bank, Infosys, Coal India and Power Grid Corp, while losers include Bharti Infratel, Bajaj Auto, Grasim Industries, Hero Motocorp and UltraTech Cement.
Among sectors, auto, infra and PSU bank remained under pressure, while buying seen in the energy, IT and Metal.
HEADLINES OF THE DAY
SpiceJet Q4: Net profit at Rs 56.3 crore versus Rs 46.1 crore and revenue was up 25.3% at Rs 2,531.2 crore versus Rs 2,020 crore.
Gruh Finance raise FPI limit: The company board approved an increase in the limit of total investment by all Foreign Portfolio Investors under the Portfolio Investment Scheme from 24% to 40% of the paid-up equity share capital of the company, subject to the approval of the members of the company at the ensuing annual general meeting (AGM).
Shares of Dewan Housing Finance Corporation fell nearly 3 percent on media reports that the ministry of home affairs (MCA) has issued a lookout notice against the promoters of the company over non-existent shell companies.
Adani Gas gains 13%: Shares of Adani Gas surged more than 13 percent after the company almost doubled its net profit in the March quarter on the back of higher sales.

The crucial resistance for Nifty spot is now seen at 12040 and above this 12160 Support for the immediate term is now placed at 11740 next support will be 11560.

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Closing Bell: Nifty ends above 11,900, Sensex up 248 points; Tata Steel surges 5%.

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It was a strong close for the benchmark indices on May 27 with Nifty finished above 11,900 level.
At close, the Sensex was up 248.57 points at 39683.29, while the Nifty was up 80.70 points at 11924.80. About 1782 shares have advanced, 797 shares declined, and 160 shares are unchanged.
Tata Steel, Yes Bank, NTPC, IOC and L&T were the top gainers on the Nifty, while Zee Entertainment, IndusInd Bank, Reliance Industries, Tech Mahindra and Bharti Airtel were the major losers.
Among the sectors, except IT and pharma all other indices ended higher led by infra, metal, PSU bank, FMCG and energy.
HEADLINES OF THE DAY
Colgate Palmolive Q4 result:
Net profit up 4.7% at Rs 197.6 crore versus Rs 188.8 crore, revenue up 5.7% at Rs 1,154 crore versus Rs 1,092 crore, YoY
EBITDA at Rs 310.7 crore and margin down at 26.9%.
Force Motors Q4
Net profit down 35.3% at Rs 39.2 crore, revenue up at Rs 1,060.5 crore. EBITDA down 33.9% at Rs 73 crore and margin at 6.9%, YoY.
GAIL Q4: Net profit was down 33.2% at Rs 1,122.2 crore against Rs 1,681.2 crore, revenue down 5.2% at Rs 18,763.9 crore against Rs 19,789 crore.
BHEL Q4 Profit Jumps 49% To Rs 683 Cr
State-owned power equipment maker Bharat Heavy Electricals (BHEL) reported a 49.3 percent year-on-year growth in March quarter profit due to lower other expenses and tax cost.
Motherson Sumi Q4: Consolidated net profit down 20.9% at Rs 410 crore versus Rs 518.4 crore, revenue was up 11.4% at Rs 17,170 crore versus Rs 15,407.8 crore, YoY.
The crucial resistance for Nifty spot is now seen at 12040 and above this 12200 Support for the immediate term is now placed at 11800 next support will be 11620.

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Sensex ends 623 pts higher, Nifty around 11,850; ICICI Bank gains 5%.

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Indian indices ended near day's high level on May 24 after BJP led NDA government got clear mandate in the Lok Sabha Election 2019.
At close, the Sensex was up 623.33 points at 39434.72, while Nifty was up 187.10 points at 11844.10. About 1823 shares have advanced, 676 shares declined, and 150 shares are unchanged.
ICICI Bank, Zee Entertainment, Vedanta, Tata Steel and Bharti Airtel were among major gainers in the Nifty, while Tech Mahindra, NTPC, ONGC, TCS and HCL Tech were some of the losers.
All the sectoral indices ended in the green led by BSE PSU Bank (up 5.5%) followed by auto, metal and infra gained more than 2 percent.
HEADLINES OF THE DAY
JSW Steel Q4: Consolidated net profit down 49.2% at Rs 1,523 crore versus Rs 2,996 crore, revenue was up 4.8% at Rs 22,368 crore versus Rs 21,336 crore, YoY.
Ashok Leyland shares rallied more than 6 percent ahead of its March quarter earnings to be announced today.
HDFC divested stake in GRUH Finance: HDFC sold 6.10% stake in Gruh Finance to meet RBI conditions for Bandhan Bank merger. The average price was Rs 260.07 per share for shares sold on March 28 and Rs 310.26 for shares sold on May 24, 2019.
UK Prime Minister Theresa May to resign on June 7. The new prime Minister will get elect in a few weeks.
Sun TV Network shares fell 6.5 percent on May 24 after company reported weakear-than-expected operating results in January-March quarter due to TRAI's new regime. Brokerage houses slashed price target.
Glenmark Pharma shares fell over a percent after a media report indicated company's Goa facility received Voluntary Action Indicated (VAI) status.
The crucial resistance for Nifty spot is now seen at 11900 and above this 12000 Support for the immediate term is now placed at 11740 next support will be 11520.

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Indices end in the red after record rally; Nifty at 11,657, Sensex down 298 pts @ 30614.

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Benchmark indices ended lower on May 23 as they wiped out all its intraday gains after hitting record highs in the morning trade.

At close, the Sensex was down 298.82 points at 38811.39, while Nifty was down 55.40 points at 11682.50. About 1182 shares have advanced, 1303 shares declined, and 170 shares are unchanged.

IndusInd Bank, Zee Entertainment, Adani Ports, Grasim Industries and Cipla were among major gainers the Nifty, while losers were Vedanta, Eicher Motors, ITC, Hindalco and Bajaj Finserv.

Among sectors, except infra (up 1 percent) all other sectoral indices ended in red led by FMCG, energy, metal, IT, auto and pharma.

HEADLINES OF THE DAY

Benchmark indices wiped out all its intraday gains and trading lower after hitting record highs in the morning trade.

Rupee at day's low: The Indian rupee erased all its morning gains and trading lower by 19 paise at 69.85 per dollar versus previous close 69.66.

Shares of ITI gained 3 percent on May 23 after it signed a Memorandum of Understanding (MoU) with the Department of Telecommunications, Ministry of Communications, Government of India for the year 2019-20.

PSU banks rally 3-13%: PSU banks are prominent gainers on May 23 when the counting of votes for Lok Sabha elections indicated that BJP is set to form government again.

The crucial resistance for Nifty spot is now seen at 11800 and above this 12000 Support for the immediate term is now placed at 11520 next support will be 11380.

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Nifty holds 11,700, Sensex up 140 pts ahead of counting day; IndusInd Bank jumps 5%.

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It is a positive close for the Indian market in a volatile day ahead of counting of Lok Sabha Election 2019.

At close, the Sensex was up 140.41 points at 39110.21, while Nifty was up 28.80 points at 11737.90. About 1356 shares have advanced, 1147 shares declined, and 183 shares are unchanged. 

IndusInd Bank, Sun Pharma, Bajaj Auto, BPCL and Eicher Motors were among major gainers on the Nifty, while losers were Tech Mahindra, Indiabulls Housing, Bharti Infratel, ITC and Yes Bank.

Among sectors, except IT and FMCG other sectors ended higher led by bank, auto, infra, energy, pharma and metal.

HEADLINES OF THE DAY

MOIL Q4: Net profit was up 5.7% at Rs 135 crore against Rs 128 crore, revenue up 9.8% at Rs 436.6 crore versus Rs 397.6 crore, YoY.

Lupin launches Budesonide Inhalation Suspension: The company announced the launch of its Budesonide Inhalation Suspension, 0.5 mg/2 mL Single-Dose Ampules in the US market, having received an approval from the United States Food and Drug Administration (FDA) earlier.

Bajaj Electricals Q4: Net profit at Rs 28.5 crore versus Rs 7.3 crore, revenue up 10.4% at Rs 1,773 crore versus Rs 1,606.3 crore, YoY.

Bharat Forge has entered into a share subscription agreement with Aeron Systems Pvt Ltd and its founders. The Pune-based company will subscribe 97,500 equity shares of Rs 10 each, equivalent to a 26 percent stake, which are agreed to be subscribed in three tranches. 

Cipla reported a 105.6 percent increase in net profit for the quarter ended March 2019 at Rs 367.2 crore, against Rs 178.6 crore in the year-ago period. Revenue rose 19.1 percent at Rs 4,404 crore versus Rs 3,698 crore in the corresponding quarter last year.

IndusInd Bank reported a 62.2 percent decline in Q4 net profit at Rs 360.1 crore, against Rs 953.1 crore in the corresponding quarter last year. NII rose 11.2 percent at Rs 2232.4 versus Rs 2007.6 crore in the year-ago period.

The crucial resistance for Nifty spot is now seen at 11860 and above this 12000 Support for the immediate term is now placed at 11600 next support will be 11480.

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Nifty holds 11,700, Sensex falls 382 points; Tata Motors loses 7%.

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Indian indices fell 1 percent as they failed to maintain the strong up move which was recorded on May 20, on the back on exit polls for Lok Sabha Election 2019.

At close, the Sensex was down 382.87 points at 38969.80, while Nifty was down 119.20 points at 11709.10. About 970 shares have advanced, 1560 shares declined, and 160 shares are unchanged. 

Tata Motors, BPCL, Zee Entertainment, IndusInd Bank and Adani Ports were the top losers on the Nifty, while gainers were Dr Reddy Labs, Bharti Infratel, Britannia Industries, Titan Company and Reliance Industries.

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

HEADLINES OF THE DAY

Media stocks are trading in the negative today, down 2.67 percent on Nifty. All constituent stocks except INOX Leisure and Hathway Cable & Datacom are in the red, with Dish TV being the biggest loser, down 5.23 percent. INOX Leisure is the biggest gainer, up 0.64 percent on Nifty.

Bosch reported a 5.1 percent decline in net profit for the quarter ended March 2019. Net profit for Q4 stood at Rs 411.7 crore, against Rs 433.8 crore in the year-ago period.

Reliance Industries, HDFC and Dr Reddys Labs are among the biggest gainers. Tata Motors, Tata Steel and BPCL are the biggest losers.

Sensex is down 38.58 points or 0.10 percent at 39314.09, and the Nifty down 23.60 points or 0.20 percent at 11804.70. About 900 shares have advanced, 1374 shares have declined, and 123 shares are unchanged.

The crucial resistance for Nifty spot is now seen at 11900 and above this 12000 Support for the immediate term is now placed at 11600 next support will be 11480.

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