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

capitalstars financial research pvt. ltd.

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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Sensex, Nifty end at record closing high on exit polls verdict; PSU banks outperform.

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It a green close for the market on Tuesday, with the Nifty ending well above 10,650-mark. 

A rally among PSU banks, energy names as well as IT boosted the market. In the broader market, the Nifty Midcap index ended over half a percent higher. 

At the close of market hours, the Sensex ended up 159.06 points or 0.45% at 35513.14, while the Nifty was higher by 57.00 points or 0.54% at 10685.60. The market breadth was narrow as 1238 shares advanced, against a decline of 1320 shares, while 161 shares were unchanged.

Infosys, TCS, and BPCL were the top gainers, while Sun Pharma and Hero MotoCorp lost the most.

HEADLINES OF THE DAY

The Sensex was up 1,421.90 points or 3.75% at 39352.67, while Nifty was up 421.10 points or 3.69% at 11828.30.

Exit polls have predicted a comfortable victory for the BJP-led NDA, which helped the benchmark indices end at a record closing high. Both the indices posted a biggest single session gain since 2009.

At close, the Sensex was up 1,421.90 points or 3.75% at 39352.67, while Nifty was up 421.10 points or 3.69% at 11828.30. About 2013 shares have advanced, 613 shares declined, and 155 shares are unchanged. 

Indiabulls Housing, IndusInd Bank, Adani Ports, SBI and Tata Motors were among major gainers on the Nifty, while losers were Dr Reddy Labs, Zee Entertainment, Bajaj Auto, Tech Mahindra and Infosys.

RESULTS TO BE ANNOUNCED TOMORROW :- Bharat Fin , Tech Mahindra.

The crucial resistance for Nifty spot is now seen at 12000 and above this 12260 Support for the immediate term is now placed at 11600 next support will be 11480.

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Nifty ends above 11,400, Sensex jumps 537 points; auto stocks rally.

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Sensex and Nifty rallied over 1 percent each, closing near their day's high level on May 17 ahead of exit poll of Lok Sabha election 2019.

At close, the Sensex was up 537.29 points at 37930.77, while Nifty was up 150.10 points at 11407.20. About 1381 shares have advanced, 1112 shares declined, and 140 shares are unchanged. 

Zee Entertainment, Bajaj Finance, Bajaj Finserv, Hero Motocorp and Maruti Suzuki were among major gainers on the Nifty, while losers include Yes Bank, Dr Reddy Labs, Vedanta, Hindalco and Infosys.

Among sectors, auto and FMCG index gained 2.5 percent followed by bank and Infra, while selling witnessed in IT, metal and pharma sectors.

HEADLINES OF THE DAY

Bajaj Auto Q4 result: Two-wheelers major Bajaj Auto has reported 20 percent jump in its fourth quarter standalone net profit (Q4FY19) at Rs 1,305.6 crore. Revenue of the company jumped 9 percent at Rs 7,395 crore.

Dr Reddy Laboratories Q4: Dr Reddy Laboratories has reported 44 percent jump in its Q4FY19 net profit at Rs 434.4 crore against Rs 302.2 crore in the same quarter last fiscal.

CESC Q4: Standalone net profit up 9.2% at Rs 309 crore versus Rs 283 crore, revenue down 7.7% at Rs 1,662 crore versus Rs 1,801 crore, YoY>

IOC Q4: Indian Oil Corporation (IOC) has reported Q4FY19 net profit at Rs 6,099 crore on the back higher operating income. The company had reported net profit of Rs 716.8 crore in the quarter ended December 2018.

Arvind Q4: Consolidated net profit down 41.3% at Rs 64 crore, revenue up at Rs 1,859.4 crore.

The crucial resistance for Nifty spot is now seen at 11600 and above this 11800 Support for the immediate term is now placed at 11260 next support will be 11090.

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Nifty ends above 11,250, Sensex gains 278 pts; IT, metal stocks in focus.

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Last hour surge help the benchmark indices to close near day's high level with Nifty finished above 11,250 level.

At close, the Sensex was 278.60 points at 37,393.48, while Nifty was up 100.10 points at 11,257.10. About 1155 shares have advanced, 1296 shares declined, and 149 shares are unchanged. 

Zee Entertainment, BPCL, UltraTech Cement, IOC and Bajaj Finance were among major gainers on the Nifty, while losers were Yes Bank, Bharti Airtel, IndusInd Bank, Coal India and Cipla.

Except pharma, all other sectoral indices ended higher led by IT, metal, energy, bank, auto, FMCG and infra.

HEADLINES OF THE DAY

JSW Energy Q4: Consolidated net profit at Rs 3.9 crore versus Rs loss of Rs 483.1 crore, revenue up 8.4% at Rs 1,924 crore versus Rs 1,775 crore, YoY.

Hindalco reported a 17.9 percent YoY decline in net profit at Rs 506 crore, against Rs 616 crore in Q4FY18. The revenue of the Aditya Birla Group company is up 6.6 percent at Rs 12,455 crore, compared to Rs 11,687 crore in the year-ago period.

Media stocks are trading in the positive, up 1.08 percent on Nifty. Zee Entertainment is the biggest winner, trading 4.67 percent high, while Den Networks is the biggest loser, down 4.13 percent on Nifty.

RESULTS TO BE ANNOUNCED TOMORROW :- Arvind , Bajaj Auto , Balkrishna Ind , CESC , Dr Reddys Labs , UPL .

The crucial resistance for Nifty spot is now seen at 11400 and above this 11620 Support for the immediate term is now placed at 11080 next support will be 10900.

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Nifty ends below 11,200, Sensex falls 203 points; Yes Bank, Tata Motors slip 8%.

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The benchmark indices ended lower in the volatile trading on May 15 with Nifty closed below 11,150 mark.

At close the Sensex was down 203.65 points at 37114.88, while Nifty was down 75.80 points at 11146.20. About 980 shares have advanced, 1542 shares declined, and 174 shares are unchanged. 

Yes Bank, Tata Motors, Zee Entertainment, JSW Steel and IndusInd Bank were the top losers on the Nifty, while gainers were Bajaj Finance, Eicher Motors, UPL, IOC and Bajaj Finserv.

Among the sectors, metal index slipped 2 percent followed by auto, infra, pharma, FMCG and bank.

HEADLINES OF THE DAY

Jubilant Foodworks has reported 8.6 percent jump in its fourth quarter (Q4FY19) net profit at Rs 73.9 crore. Revenue of the company rose 11 percent at Rs 865 crore against Rs 780 crore.

PSU banks were trading in the negative, down 1.29 percent on Nifty. Union Bank of India was the biggest loser, down 9.39 percent, while Jammu & Kashmir Bank was the biggest gainer, adding 2.67 percent on Nifty

Bajaj Finance, Mahindra & Mahindra and Eicher Motors were among top gainers. Yes Bank, Tata Motors and Zee Entertainment were among the biggest losers. 

As for sectoral indices, All except Media, Metal and PSU banks were in the green. Media is the biggest loser, down 3.19 percent, while Financial Services were the biggest gainer, up 0.51 percent.

RESULTS TO BE ANNOUNCED TOMORROW ;- BAJAJFINSV , BOI , HINDALCO..

The crucial resistance for Nifty spot is now seen at 11000 and above this 10880 Support for the immediate term is now placed at 11320 next support will be 11480.

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