The BSE Sensex ended at 38,285.75, marginally up by 7 points, or 0.02 percent, while the NSE Nifty 50 settled at 11,570.90, higher by 19.15 points, or 0.17 percent. Indian equity indices started 0.2 percent higher on Tuesday amid mixed cues but traded flat throughout the day. The BSE Sensex started at 38,360, jumping over 81 points, or 0.21 percent, from its previous close of 38279 in pre-open trade. The NSE Nifty 50 was up at 11,576, up by 24 points, or 0.21 percent. While shares of IT and pharma firms gained, bank, metal, FMCG stocks fell, dragging indexes lower. Here are the main highlights from the stock markets today:
Aug 21, 2018
Closing Bell: Sensex, Nifty end at record highs
The BSE Sensex ended at 38,285.75, marginally up by 7 points, or 0.02 percent, while the NSE Nifty 50 settled at 11,570.90, higher by 19.15 points, or 0.17 percent.
Aug 21, 2018
IT, pharma stocks among top Sensex gainers
Aug 21, 2018
Pick-up at DLF still several quarters away, says HSBC
Real estate developer DLF Ltd’s operating business has stabilised but new accounting standard hurts with material pick-up is still several quarters away, says HSBC Global Research.
DLF’s adoption of new accounting standard IndAS 115 has resulted in 15 percent net worth erosion or equivalent of 6-7 years of reported profitability pre-FY18 and de-recognition of Rs 140 billion of sale, it said.
As per IndAs, real estate companies including DLF can recognise revenue only on completion of projects.
Earlier this month, DLF reported a 26 percent fall in quarterly revenue from operations.
HSBC retains ‘hold’ rating, and maintains target price at Rs 217.
Shares of DLF fell as much as 3.5 percent to Rs 207.25 on Tuesday, its biggest intraday percent drop since August 2. The stock is down 17 percent this year as of last close.
DLF is top drag on Nifty Realty index, which is down as much as 1.7 percent. Shares traded at Rs 208.35, declining by 3.03 percent on the NSE at 3.28 pm. (Reuters)
Aug 21, 2018
UPL surges nearly 5 percent, CESC at 1-month high
Shares of United Phosphorous Ltd (UPL) surged 4.76 percent to Rs 648.35 on the NSE at 3.19 pm. The scrip traded between a high of Rs 648.85 and a low of Rs 619.50.
Another company, CESC surged by 6.66 percent to trade at Rs 1004, rising by Rs 62.70. Intraday it touched a high of Rs 1028.85 and a low of Rs 941, after opening at 941.50 on the NSE. Investors appear to be positive on see the company's planned four-way split and separate listing of their businesses unlocking value.
Aug 21, 2018
GSK Consumer up as Kellogg in fray to acquire Horlicks
Shares of Glaxosmithkline Consumer Healthcare extended gains for the second consecutive session and hit a lifetime high of Rs 7,135 following reports that cereal maker Kellogg and UK-based Reckitt Benckiser Plc have shown interest to acquire GlaxoSmithKline Plc's nutrition business, including Horlicks. Other companies including Nestle, Unilever, Mondelez and Coca-Cola are in the race to acquire the company's nutrition business. Both Kellogg and Reckitt Benckiser have completed their initial evaluations, the report said. In 2017, GSK Plc's nutrition products, including Horlicks, had combined sales of 550 million pound sterling (around Rs 50 billion), with majority of the sales being generated by the Indian consumer healthcare arm, GlaxoSmithKline Consumer Healthcare. (Cogencis)
Shares rose by 5.28 percent to Rs 7140, adding Rs 357.80 in value to the scrip, at 3.14 pm on the BSE.
Equity indices trade in the green going with the Sensex trading above 38,300 mark at 38,304.72, rising by 26 points, or 0.07 percent, while the Nifty 50 was trading at 11,566.25, up by 14.50 points, or 0.13 percent at 2.50 pm. Shares of Tata Steel were down by 2.76 percent, while Hindustan Unilever also dipped over a percent. SBI, HDFC, IndusInd Bank also declined. Reliance, Sun Pharma, HDFC Bank, Coal India, Axis Bank, TCS, Wipro surged.
Kajaria Ceramics gains nearly 9.5% backed by heavy volumes
Shares of Kajaria Ceramics surged 9.46 percent to trade at Rs 453.20, adding Rs 39.15 to the stock's value, on the BSE at 1.42 pm. It has ranged between a high and a low of Rs 453.95 and Rs 415.02, respectively. The scrip has extended gains to the third consecutive session of trade and rose nearly 9.5 percent, backed by heavy volumes. Over 25 lakh shares of company have been traded on the NSE, significantly higher than their six-month daily average of 398,310 shares. (Cogencis)
Aug 21, 2018
Idea rises, Airtel dips after June subscriber data
Shares of telecom service provider Bharti Airtel slipped as much as 2 percent, while rival Idea Cellular’s rose over 3 percent on Tuesday after reports that the country’s mobile phone customer base rose 1.4 percent to 115 crore in June from May, according to Trai figures. While Airtel user base grew by 10,000 to 34.46 crore, Idea’s base jumped by 64 lakh subscribers to 22.06 crore.
Shares of Idea Cellular traded at Rs 53.20, lower by 0.37 percent on the NSE at 1.25 pm. Intra-day, the stock has traded between a high of Rs 54.95 and a low of Rs 52.75. Idea stock had fallen 51 percent this year.
Bharti Airtel shares were lower by 0.61 percent, trading at Rs 368.30 on the NSE index. The scrip has ranged between Rs 370.40 and Rs363.10 in intra-day trade. Airtel has lost 30 percent in value so far this year.
Reliance Industries’ shares were higher by 1.19 percent on reports that Reliance Jio added over 9.71 million users in June, taking its subscriber base well past 21.5 crore.
Aug 21, 2018
Market update: Sensex, Nifty trade flat, Reliance surges over a percent
Equity indices continue to trade flat on Tuesday in early afternoon session. The Sensex was up by nearly 12 points, or 0.03 percent, trading at 38,290.67, while the Nifty 50 was at 11,562.50, higher by nearly 11 points, or 0.09 percent at 1 pm. Shares of Coal India and Wipro were trading higher by up to 2.57 percent. Other Sensex gainers were Tata Motors, Reliance, Sun Pharma, rising by up to 1.21 percent. Reliance Industries was higher by 1.19 percent on reports that Reliance Jio added over 9.71 million users in June, taking its subscriber base well past 215 million. Tata Steel was the top drag on the BSE index, trading lower by 2.24 percent. SBI, IndusInd Bank, Hindustan Unilever, Axis Bank, Yes Bank were other top laggards. HDFC shares declined 0.31 percent.
FDC shares fall after USFDA’s surprise inspection of facility
Shares of pharmaceutical company FDC Ltd fell as much as 8.1 percent to Rs 232, their biggest intraday percent drop since May 31. US FDA carried out a surprise inspection of the company’s Aurangabad facility and made eight observations for which appropriate response will be submitted, company said on Monday. FDA inspection was on ophthalmics products being exported to US and company says it continues to export them.
More than 109,614 shares traded, 2.6 times their 30-day average. Up to Monday’s close, stock had risen 45.9 percent in the past one year. FDC shares traded at Rs 242.50, down by 3.98 percent at 11.17 am on the NSE.
Meanwhile, Nifty Pharma index on Tuesday was trading higher by 0.14 percent. As many as 6 stocks advanced on the sectoral index against 4 declines. Glenmark Pharma, Cadila Health were among leading gainers, while Aurobindo Pharma, Sun Pharma were among top drags.
Aug 21, 2018
SpiceJet, IndiGo shares rise on strong July passenger data
Shares of Indian airlines rise after data released here by the Directorate General of Civil Aviation (DGCA) showed passengers carried by domestic airlines in July rose 20.8 percent on year-on-year basis. SpiceJet had the highest load factor of 93.8 percent, compared with IndiGo’s 88.7 percent. Jet Airways (India) Ltd posted load factor of 83.9 percent while national carrier Air India’s was at 82.3 percent.
IndiGo’s market share was highest at 42.1 percent, up from 38.7 percent last year, way ahead of SpiceJet at 12.3 percent. Jet Airways market share falls to 13.6 percent from 15.8 percent last year.
SpiceJet shares were up as much as 3 percent, IndiGo owner InterGlobe Aviation were up as much as 1.6 percent. Jet Airways shares fell as much as 2.5 percent to Rs 293.95 after a report that India’s corporate affairs ministry is probing allegations of siphoning of funds at the airline. Jet Airways denies receiving any communication from the ministry. (Reuters)
Meanwhile, the Sensex edged up to 38,306.25, rising by 27.50 points, or 0.07 percent at 11.01 am, while the Nifty 50 still traded higher at 11,562.65, up by 10.90 points, or 0.09 percent.
Aug 21, 2018
Vadilal Industries hits 19-month low
Shares of Vadilal Industries hit a 19-month low of Rs 517.30 as ace investor Ashish Kacholia sold 362,305 shares or 5 percent stake in the company on Monday. Kacholia sold these shares through bulk deals on the NSE and BSE. As of June 30, Kacholia held 7.21 percent stake in the company. In another bulk deal, EQ India Fund, run by Porinju Veliyath, bought 48,000 shares or 0.7 percent stake in the company. At 10.04 am, shares of the company were down 5 percent at Rs 559.40. (Cogencis)
Aug 21, 2018
Market update: Sensex, Nifty trade flat
Equity indices trade flat after record start on Tuesday. The Sensex was trading at 38,285.82, up by just 7.07 points, or 0.02 percent, while the Nifty 50 was at 11,557.15, rising by 5.40 points, or 0.05 percent at 10.07 am. Wipro surged 2.41 percent, while Coal India, Asian Paints, Bajaj Auto, HDFC Bank, M&M were other gainers. Bharti Airtel, Tata Steel, Vedanta, ICICI Bank, HUL were among losers.
Aug 21, 2018
Bharti Airtel, bank and IT shares among Sensex losers
Aug 21, 2018
Opening Bell: Sensex, Nifty start higher, Bajaj Auto leads among Sensex gainers
Indian equity indices started 0.2 percent higher on Tuesday amid mixed cues. The BSE Sensex started at 38,360, jumping over 81 points, or 0.21 percent, from its previous close of 38279 in pre-open trade. The NSE Nifty 50 was up at 11,576, up by 24 points, or 0.21 percent. The BSE Sensex touched a high of 38,402.96 points, while the Nifty50 climbed a peak of 11,581.75 points. At 9.16 am, the 30-share BSE index was higher by 69 points, or 0.18 percent, trading at 38,347.94, while the 50-share NSE index traded at 11,575.90, up by 24.15 points, or 0.21 percent. Bajaj Auto, ITC, Asian Paints, Tata Motors shares surged in early trade, while Bharti Airtel, ICICI Bank, IndusInd Bank, Infosys, TCS shares were under pressure.
The Indian rupee opened stronger at 69.65 against the dollar on Tuesday. It closed at 69.82 against the dollar on Monday, before posting its biggest single session rise against the dollar since June 29 intra-day and eventually closing at highest level against the greenback since August 10.
These are the stocks making the biggest moves premarket
Indian Hume Pipe: The company has bagged order worth Rs 256.2 crore in Tamil Nadu.
Reliance Industries: Reliance Jio continued to steal a march over older carriers by sustaining its strong customer expansion momentum, adding over 9.71 million users in June, taking its subscriber base well past 215 million.
Idea Cellular: Among old telecom service providers, Idea which is merging with Vodafone India to create the country’s largest telco, notched up the strongest customer gains, adding over 6.36 million subscribers.
Bharti Airtel: Market leader Bharti Airtel added a paltry 10,689 customers in June but retained its position as India’s biggest telco with 344.56 million subscribers.
Zee Entertainment: The Essel Group firm has announced content alliance with Bharti Airtel.
Vedanta: The NGT disallows Vedanta to carry out maintenance work at Sterlite Plant in Tuticorin; allows access for administrative work. Tribunal directs the Environment Ministry and Central Pollution Control Board to carry out maintenance work.
Jet Airways: Union MoS for the Ministry of Corporate Affairs PP Cchaudhary told CNBC-TV18 that the Registrar of Companies (RoC) has initiated a preliminary inquiry against Jet Airways based on media reports.
Bank of Baroda: PS Jayakumar is likely to get an extension as MD & CEO of Bank of Baroda, according to CNBC-TV18. Jayakumar’s term was to end in October 2018.
Apollo Tyres: Production operations of the company's plants located at Perambra and Kalamassery, Kerala, have been disrupted due to floods. The production loss due to this natural calamity is 1500 MT (approximately) till Monday.
Piramal Enterprises, pharma stocks: Ajay Piramal, the chairman of the Piramal Group says he is looking for a pharma company with reasonable valuation and long-term growth potential.
Aug 21, 2018
Domestic air passenger traffic growth comes in at 20.8%, higher than last two months, but below than numbers reported for Feb, March & April. For January-July, growth is at 22% pic.twitter.com/ATVyncNoow
Here is what you need to know before the market opens
Asia: MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.02 percent. Australian stocks lost 0.7 percent. South Korea's KOSPI nudged up 0.1 percent, while Japan's Nikkei fell 0.6 percent.
US: The Dow Jones Industrial Average climbed 89.37 points to 25758.69—their highest close since Feb 1. The S&P 500 added 6.92 points to 2857.05, bringing it 0.6 percent below its January record. The tech-heavy Nasdaq Composite edged up 4.68 points to 7821.01. The trio of indexes has climbed in three straight sessions.
Crude prices: Brent crude oil futures were at $72.24 per barrel at 0104 GMT, up 3 cents from their last close. US WTI crude futures were up 24 cents at $66.67 per barrel.
Dollar index: The dollar index against a basket of six major currencies was down 0.2 percent at 95.714, extending losses from the previous day. The euro brushed an 11-day high of $1.1493, stretching its gains after climbing about climbing about 0.35 percent overnight. The US currency slipped to 109.84 yen, its lowest since late June.
FII & DII data: Foreign institutional investors (FIIs) sold shares worth Rs 483.04 crore while domestic institutional investors bought shares worth Rs 593.22 crore in the Indian equity market on Monday.
Market at close: The Sensex settled 330 points higher to close at 38,279, while the Nifty 50 ended at above 11,550, closing at 11,552.
Rupee: The Indian rupee ended at 69.82 against the dollar. The home currency posted its biggest single session rise against the dollar since June 29 intra-day and eventually closed at highest level against the greenback since August 10.
Trump on interest rates, currency valuation: US president Donald Trump said on Monday he was “not thrilled” with the Federal Reserve for raising interest rates and said the US central bank should do more to help him boost the economy. He also accused China and Europe of manipulating their respective currencies.
Indian economy: India has been "remarkably resilient" in the recent turmoil in emerging market equities largely driven by macro stability, low policy uncertainty, improving growth and domestic flows, said a Morgan Stanley report. The agency in its base case (50 percent probability) expects June 2019 Sensex at 36,000, while in the bull case (30 percent probability), it could be at 44,000 and in bear case (20 percent probability), it could be at 26,500.