Closing Bell: Nifty ends below 11,300, Sensex falls 135 points dragged by metal, auto and pharma.

Indian indices continue its downtrend on the fifth consecutive day on July 24 with Nifty finished below 11,300 level.

At close, the Sensex was down 135.09 points at 37,847.65, while Nifty was down 60 points at 11,271. About 834 shares have advanced, 1588 shares declined, and 153 shares are unchanged. 

UPL, Adani Ports, Indiabulls Housing, Eicher Motors and IndusInd Bank were some of the major losers on the Nifty, while gainers include Zee Entertainment, Asian Paints, HUL, HDFC and HCL Technologies. 

Among the sectors, metal index slipped over 2 percent, followed by auto, energy, infra, IT and pharma. Midcap index was down 1.5 percent, while Smallcap index shed over 1 percent.

HEADLINES OF THE DAY

V-Guard Industries Q1: Net profit rose 53.6% at Rs 53 crore against Rs 34.5 crore, revenue was up 10% at Rs 706.6 crore against Rs 642.4 crore. EBITDA up 52.1% at Rs 72.1 crore, while margin up at 10.2%, YoY.

Canara Bank Q1: Net profit up 16.9% at Rs 329.1 crore against Rs 281.5 crore, net interest income was down 16.6% at Rs 3,240.1 crore versus Rs 3,882.9 crore, YoY.

Jubilant Foodworks Q1: Jubilant Foodworks, the operator of Domino's Pizza has reported marginal fall in its consolidated net profit for the quarter ended June 2019. The company's Q1FY20 net profit was down 0.9 percent at Rs 71.5 crore against Rs 72.1 crore in the same quarter last fiscal. Revenue of the company was up 10 percent at Rs 949.1 crore against Rs 863.2 crore.

TVS Motor Singapore to invest USD7 mn in Scienaptic Systems: TVS Motor (Singapore) Pte. a wholly-owned subsidiary of TVS Motor has signed definitive agreements to invest USD7 million in Scienaptic Systems Inc. The closing of the investment is subject to obtaining appropriate regulatory approvals.

The crucial resistance for Nifty spot is now seen at 11460 and above this 11600 Support for the immediate term is now placed at 11140 next support will be 11020.

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HDFC Bank could report more than 20% growth in Q1 profit, NII

HDFC Bank, which has the highest weightage in the Nifty50, is expected to report more than 20 percent growth in profit, net interest income (NII) and pre-provision operating profit on July 20.

Loan growth could also be healthy, driven by corporate advances who may provide strong support after the NBFC slowdown. However, there may be a slight slow-down of growth on the retail book.

HDFC Bank fell 1.16 percent ahead of June quarter earnings, but in last nine months, it gained 21 percent, giving major support to benchmark indices.

"NII is expected to grow by 25 percent YoY driven by stable NIM and healthy loan book growth. The NIM is expected to be stable even with rising cost of fund on account of increase in unsecured high yielding portfolio," said Narnolia which expects profit growth at 24 percent and pre-provision operating profit at 25 percent YoY for the quarter.

The brokerage expects income growth from fees to remain moderate, given that it is impacted by regulatory changes in mutual fund distribution fee income.

However, the bank's management had earlier said it expects the growth of 15-16 percent in fee income at some point of time going ahead.

According to ICICI Direct, profit growth is likely to be around 23.4 percent, NII at 22.4 percent and pre-provision operating profit 25.8 percent in Q1 compared to year-ago.

"Advances run rate is expected to slow down at around 17 percent YoY. The retail segment, which has been the growth engine in recent quarters, is seen remaining behind led by a cautious approach in unsecured lending products and a slowdown in auto sales. Corporate segment growth may remain healthy as the bank continues to remain a beneficiary of NBFC slowdown, as seen last quarter," ICICI Direct said, adding that asset quality is expected to remain steady.

Motital Oswal also said asset quality is expected to remain stable, with gross non-performing assets at around 1.3 percent for Q1 FY20.

Key issues to watch for would be the outlook on SME and retail book as management indicated some stress in same, and trends in digital banking/payments and various initiatives.

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Closing Bell: Sensex gains 234 pts, Nifty ends above 11,650; Yes Bank, Tata Motors rally.

Benchmark indices closed strong with the Sensex rising 234.33 points to 39,131.04 and the Nifty50 climbing 72.70 points to 11,661.05 as all sectoral indices were higher except IT which lost over half a percent.

The market breadth was negative as about 1,285 shares declined against 1,149 advancing shares on the BSE.

The Nifty Midcap index gained 0.7 percent while the Nifty Smallcap index ended flat.

The Nifty Bank, Auto, FMCG and Metal indices climbed 0.4-1 percent while Pharma rallied 1.5 percent and Realty surged 2 percent.

HEADLINES OF THE DAY

Piramal Enterprises made interest payment on non-convertible debentures due today.

HDFC AMC's Q1 profit grew by 42.2 percent year-on-year to Rs 292 crore and revenue increased 7 percent to Rs 504.4 crore YoY.

Yes Bank Gets Back Above Rs 100 per share after seven trading sessions.

The crucial resistance for Nifty spot is now seen at 11520 and above this 11360 Support for the immediate term is now placed at 11800 next support will be 11960.

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Closing Bell: Infosys lifts Sensex 160 pts, Nifty fails to hold 11,600; mid, smallcaps fall.

Benchmark indices continued to trade higher, driven largely by Infosys after its Q1 earnings.

The BSE Sensex rose 165.12 points to 38,901.35 and the Nifty50 gained 38.50 points at 11,591.

HEADLINES OF THE DAY

Shriram Transport Finance Company said it proposed a public issue of upto Rs 10,000 crore by issuing secured redeemable non-convertible debentures (NCDs) of the face value of Rs 1,000 each.

The rally in Infosys drove benchmark indices higher but broader markets underperformed. 

Sun Pharma Advanced Research spiked 16% and Pidilite Industries gained 1.5 percent while RBL Bank fell 5.6 percent.

Bajaj Consumer Care shares gained 3 percent intraday after company's June quarter earnings report.

Crisis-hit property finance firm Dewan Housing Finance Corporation (DHFL) said it was working closely with its creditors and stakeholders on a resolution plan that would not require its lenders to take a haircut.

The crucial resistance for Nifty spot is now seen at 11700 and above this 11960 Support for the immediate term is now placed at 11460 next support will be 11200.

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Closing Bell: Sensex ends lower, Nifty fails to hold 11,600; Midcap index outperforms.

Benchmark indices reversed some previous day's gains on July 12 as traders turned cautious ahead of Infosys' earnings and economic data due later today.
The BSE Sensex was down 86.88 points at 38,736.23 and the Nifty50 fell 35.20 points to 11,547.70.
The broader markets outperformed frontliners with the Nifty Midcap and Smallcap indices rising 0.46 percent and 0.33 percent respectively.

HEADLINES OF THE DAY

Sensex was down 68.13 points or 0.18 percent at 38,754.98, and the Nifty was down 23.90 points or 0.21 percent at 11,559.00. About 1104 shares have advanced, 1230 shares have declined, and 121 shares are unchanged.
Vedanta, Asian Paints, Sun Pharma are among the top earners, while ONGC, Coal India and Wipro were the biggest losers.

On the sectoral front, all but four sectors were trading in the green. Pvt bank stocks were the biggest losers, down 0.37 percent on the Nifty. Metal stocks were the biggest winners, up 0.70 percent
IndusInd Bank Q1 profit jumps 38% post Bharat Financial merger, asset quality stumbles
IndusInd Bank Earnings :- Private sector lender IndusInd Bank reported a healthy growth in June quarter earnings after merger of Bharat Financial Inclusion with itself. Hence numbers are not comparable YoY.

The crucial resistance for Nifty spot is now seen at 11760 and above this 11900 Support for the immediate term is now placed at 11400 next support will be 11260.

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Closing Bell: Sensex gains 266 pts, Nifty fails to reclaim 11,600; all sectoral indices in green.

capitalstars financial research pvt. ltd.

The market recouped all its previous day's losses to close sharply higher after Federal Reserve chair Jerome Powell hinted at a rate cut ahead.
The BSE Sensex was up 266.07 points at 38,823.11 and the Nifty50 rallied 84 points to 11,582.90.
Hero Motocorp, IndusInd Bank, Tata Motors, Vedanta and SBI were top gainers among Sensex stocks, rising 2.5-4.6 percent while ICICI Bank, Bajaj Auto, Axis Bank, TCS and L&T were losers.

HEADLINES OF THE DAY


Glenmark Pharma Gains 2% :- Global rating agency Fitch affirmed company's long-term issuer rating at BB.
Greaves Cotton shares fell 9 percent intraday after company increases stake in subsidiary Ampere Vehicles Pvt Ltd.
Tata Motors' Global Wholesales :- "Global wholesales in June 2019, including Jaguar Land Rover, were at 95,503 units, lower by 5 percent compared to June 2018," Tata Motors said.
InterGlobe Aviation Falls 5% :- Sources told CNBC-TV18 that capital market regulator SEBI called IndiGo's Company Secretary for a meeting after a feud between Rakesh Gangwal and Rahul Bhatia over corporate governance issue.



The crucial resistance for Nifty spot is now seen at 11760 and above this 11900 Support for the immediate term is now placed at 11460 next support will be 11200.

 

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Closing Bell: Nifty ends below 11,500 for 1st time since May 17, Sensex loses 174 pts

capitalstars financial research pvt. ltd.

Benchmark indices ended volatile session sharply lower with the Nifty falling below 11,500 at close for first time since May 17 this year.
The BSE Sensex was down 173.78 points at 38,557.04 and the Nifty50 fell 57 points to 11,498.90.
The market breadth remained in favour of bears as about three shares declined for every two shares rising on the BSE.
Nifty Midcap, Auto, Metal, PSU Bank and Realty indices slipped a percent each.


HEADLINES OF THE DAY

Jaiprakash Associates said C P Jain resigned as an Independent Director of the company.
Tata Motors reported an 11.6 percent decline in JLR's sale at 128,615 units for the quarter ended June 2019. Retail sales for June fell 9.6 percent at 47,060 units, compared to June 2018.
REC in Focus :- Board approved raising up to Rs 75,000 crore via non-convertible bonds/debentures, company said in its BSE filing.
Tata Consultancy Services said it has been recognised with an overall positive rating in the recent Vendor Ratingl report by Gartner lnc, based on a holistic evaluation covering the company's strategy, product/ service, pricing structure, technology/ methodology, support/ account management and corporate viability.

The crucial resistance for Nifty spot is now seen at 11660 and above this 11800 Support for the immediate term is now placed at 11280 next support will be 11060.

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Closing Bell: Indices close volatile session mixed, Nifty holds 11,550; Mid, Smallcap indices outperform.

capitalstars financial research pvt. ltd.

Benchmark indices closed volatile session on a mixed note after falling sharply in previous two straight sessions due to tax proposals in Budget.
The BSE Sensex rose 10.25 points to 38,730.82 while the Nifty50 fell 2.70 points to 11,555.90.
The broader markets outperformed frontliners with the Nifty Midcap and Smallcap indices rising 0.4 percent each.
Bajaj Finance, Sun Pharma, IOC, Bajaj Finserv and Hero Motocorp were top gainers among Nifty50 stocks, rising 3-6 percent.
Titan Company plunged 12 percent. UPL, GAIL, TCS and Yes Bank fell 2-3 percent.

HEADLINES OF THE DAY

DHFL Falls 9% :- Shares of HFC Dewan Housing Finance Corporation fell 9 percent after a media report indicated that the company is likely to present a proposal for resolution to its lenders on July 11.
ICICI Securities said it announced the diversification of its business model by entering into retail asset (loans) distribution business, thereby opening a new revenue stream for the organization.
European stocks traded lower as diminished hopes of a rate cut from the US Federal Reserve this month continued to dampen market sentiment.
REC share price has crashed 15 percent today.
L&T to Announce Quarterly Earnings after 2 Weeks :- Larsen & Toubro said the meeting of the board of directors is scheduled on July 23 to consider and approve the unaudited financial results of the company for the quarter and three month period ended 30th June 2019.

The crucial resistance for Nifty spot is now seen at 11800 and above this 11960 Support for the immediate term is now placed at 11400 next support will be 11240.

 

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Closing bell: Sensex falls 793 pts, Nifty ends below 11,600; Bajaj Fin twins top losers.

capitalstars financial research pvt. ltd.

The market completely caught in bear trap after Budget 2019 proposed to increase surcharge on super-rich people and raise minimum public shareholding to 35 percent from 25 percent earlier.
The BSE Sensex fell 792.82 points or 2.01 percent to 38,720.57 and the Nifty50 plunged 247.20 points or 2.09 percent to 11,564. About three shares declined for every share rising on the BSE.
The broader markets also fell sharply as the Nifty Midcap and Smallcap indices dropped over 2 percent.
Bajaj Finserv was biggest loser among Nifty50 stocks, falling 10 percent followed by Bajaj Finance, ONGC, NTPC, Hero Motocorp, IOC, Indiabulls Housing Finance, Maruti, L&T, Grasim Industries and SBI which dropped 4-8 percent. However, Yes Bank and HCL Technologies bucked the trend.

HEADLINES OF THE DAY

TCS to announce Q1 earnings on July 9
Yes Bank Management's Clarification :- Clarifying on the reports of instability in the management, Yes Bank managing director and CEO Ravneet Gill on Monday said that the claims were completely baseless and that they indicated a "concerted effort to try and cause a bit of instability.�
Bajaj Finance and Bajaj Finserv Plunge 9% Each :- Sanjiv Bajaj, Managing Director at Bajaj Finance told CNBC-TV18 that large NBFCs playing same role as some banks need to be treated differently and the stress in NBFC space is not because of quality of loans.
Bajaj Consumer said promoter released a pledge on 1.4 crore shares (representing 9.5 percent of total paid up equity) on July 5.
Tata Motors to Announce Quarterly Earnings on July 25.

The crucial resistance for Nifty spot is now seen at 11400 and above this 11260 Support for the immediate term is now placed at 11780 next support will be 11900.

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Closing bell: Sensex falls 395 pts, Nifty below 11,900 after Budget 2019; autos, metals sink.

capitalstars financial research pvt. ltd.

Benchmark indices fell sharply for first time in last five straight sessions after Budget failed to boost sentiment.
The BSE Sensex fell 394.67 points to 39,513.39 and the Nifty50 declined 135.60 points to 11,811.20. About two shares declined for every share rising on the BSE.
Yes Bank, NTPC, UPL, M&M and Vedanta were biggest losers among Nifty50 stocks, down 4-8 percent while Indiabulls Housing, IndusInd Bank, Kotak Mahindra Bank and SBI gained 1-3 percent.
Nifty Midcap index fell 1.7 percent. Escorts, Adani Enterprises, Jain Irrigation, Allahabad Bank, BEL, DLF and InterGlobe Aviation fell sharply while ICICI Prudential gained a percent.

HEADLINES OF THE DAY

UPL, Dhanuka Agritech and Coromandel International fell sharply after government announced about zero budget farming.
Bears finally took charge for first time in last five consecutive sessions after the end of much awaited Budget event.
The BSE Sensex plunged 390.41 points to 39,517.65 and the NSE Nifty dropped 134.30 points to 11,812.50.
Finance Minister Nirmala Sitharaman in her first Union Budget speech said the excise duty on other than filter cigarettes of length not exceeding 65 millimetres and exceeding 65 millimetres but not exceeding 70 millimetres increased to Rs 5 per thousand pieces against nil earlier.

The crucial resistance for Nifty spot is now seen at 11960 and above this 12200 Support for the immediate term is now placed at 11600 next support will be 11480.

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Closing Bell: Sensex, Nifty end marginally higher ahead of Union Budget; UPL gains 7%.

capitalstars financial research pvt. ltd.

Indian indices ended with marginal gains in a volatile trade on Thursday ahead of Union Budget to be presented on July 5.
At close, the Sensex was up 68.81 points at 39,908.06, while Nifty was up 21.20 points at 11,938. About 1222 shares have advanced, 1195 shares declined, and 172 shares are unchanged.
UPL, Bharti Airtel, UltraTech Cement, Britannia Industries and Tata Motors were among major gainers on the Nifty, while losers were Yes Bank, Tata Steel, Titan Company, Zee Entertainment and JSW Steel.
Among sectors, except metal and pharma all other indices ended higher led by the PSU bank, auto, FMCG, energy, IT, and infra.

HEADLINES OF THE DAY

Oil prices fell on Thursday, weighed down by data showing a smaller-than-expected draw on U.S. crude stockpiles and worries about the global economy.
European markets trade higher: European shares hovered at more than one-year high on Thursday as Italian banks gained on relief that the country avoided a EU disciplinary action over its public finances and investors took heart from signs that U.S.-China trade talks were back on track.
Force Motors June auto sales: The company's total sales down 17.2% at 2,210 units against 2,669 units, YoY.
Tata Motors June auto sales: Total JLR UK sales up 5% at 9,433 units against 8,984 units. Total Jaguar UK sales down 0.7% at 2,938 units against 2,960 units and total Land Rover UK sales up 7.8% at 6,495 units versus 6,024 units, YoY.

The crucial resistance for Nifty spot is now seen at 12000 and above this 12260 Support for the immediate term is now placed at 11800 next support will be 11660.

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Closing Bell: Nifty holds 11,900 in volatile trade, Sensex flat; Indiabulls Housing up 7%.

capitalstars financial research pvt. ltd.

Benchmark indices ended marginally higher in the volatile trade on July 3 with Nifty able to hold 11,900.
At close, the Sensex was up 22.77 points at 39,839.25, while Nifty was up 6.50 points at 11,916.80. About 1308 shares have advanced, 1146 shares declined, and 168 shares are unchanged.
Indiabulls Housing, IndusInd Bank, ITC, Zee Entertainment and Grasim Industries were among major gainers on the Nifty, while losers were Eicher Motors, GAIL, Tech Mahindra, Vedanta and Dr. Reddy�s Labs.
Among sectors, auto, IT ended lower, while some buying seen in the energy, infra, PSU bank and FMCG.

HEADLINES OF THE DAY

HDFC to consider Rs 45,000 crore NCDs issue: The board of director of the company in it meeting scheduled on August 2 shall consider issue of NCDs aggregating to Rs 45000 crore on a private placement basis.
Lupin has received approval for its Cinacalcet Tablets, 30 mg, 60 mg, and 90 mg from the United States Food and Drug Administration (USFDA)
Europe trades higher: Action on world markets focused on bonds on Wednesday, with a fresh slide in benchmark debt yields on simmering global trade war and recession fears, central bank easing bets and ebbing oil prices.
Lupin receives USFDA approval: The company has received approval for its Phenylephrine and Ketorolac Intraocular Solution, 1%/0.3%, from the United States Food and Drug Administration (USFDA).
LIC Housing Finance appointed Mr Sanjay Kumar Khemani as Non- Executive Director Non Independent of the company w.e.f. July 01, 2019.

The crucial resistance for Nifty spot is now seen at 12060 and above this 12200 Support for the immediate term is now placed at 11760 next support will be 11620.

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