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Closing Bell
Equity indices witnessed moderate sell-off in late session pruning early gains. Indices opened higher in line with the yesterday's bullish movement triggered by the exit poll report that pointed to a stable government at the Centre. However, traders and investors preferred to book profits later in the day.
Initially, the benchmark BSE Sensex jumped 220 points to hit a record intra-day high of 39,571.73. As the trading progressed, the 30-share index met with losses and ended lower by 382.87 points, or 0.97 per cent, at 38,969.80.
In a similar movement, the broader NSE Nifty fell from an intraday high of 11,883.55 and ended lower by 118.30 points, or 1 per cent, at 11,709.95.
It may be noted that the BSE Sensex sprinted more than 1,422 points on Monday after exit polls predicted a return of the NDA government led by the BJP.
Major losers include Tata Motors, which lost nearly 7%, Zee Entertainment was down 4.30%, BPCL stock declined 4.12%, IndusInd Bank was down 3.30%, Adani Port lost 3.10% and Maruti shed 2.90% in share values.
Sensex stocks
Nifty Bank Index
Nifty Auto Index
Nifty Auto stocks
Monte Carlo Fashions hits record low on lacklustre results
Shares of Monte Carlo Fashions hit their record low, slip over eight per cent to Rs 293.5 a day after posting quarterly results.
On Monday, the fashion retailer said its loss, for the quarter that ended on March 31, widened to Rs 1885 lakh from Rs 868 lakh a year ago.
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‘Fit will drive acquisitions at Infosys’
Top executive hints at strategic rethink post Panaya row
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City Union Bank Q4 net profit up 15% at Rs 175.12 crore
The bank’s total income for the year went upto Rs 4,281.55 crore from Rs 3,934.52 crore.
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Bank of Baroda goes in for new organisational structure
The rejig aimed at improving overall efficiency of Bank of Baroda after its amalgamation with Vijaya Bank and Dena Bank
Infrastructure stocks
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Shemaroo Entertainment's board okays 50% stake acquisition in Dominiche Production
Auto Parts stocks on BSE
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April angst: Slide in auto sales steepest in 8 years
Car sales down 20%;scooters skid by 26%
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Auto sales dip for 10th consecutive month as elections keep buyers away, weak sentiments
Index-weighted stocks
Bharti Infratel near four-week high
Shares of telecom tower operator Bharti Infratel Limited gain as much as 4.41 per cent to Rs 281.45, their highest since April 25, 2019.
The stock broke above a resistance at Rs 277.38.
BPCL shares tank 5 per cent on oil price rise
Bharat Petroleum Corporation Ltd (BPCL) shares declined by 5 per cent to Rs 371.80 on the NSE today though the public sector oil firm reported profits better than estimates. The increase in crude oil price has impacted the BPCL stock.
State-run oil refiner BPCL yesterdat posted a net profit of ₹3,124.9 crore for the fourth quarter of FY19, 16.2 per cent more than the ₹2,689 crore it reported in the year-ago period. Revenue rose 10.3 per cent to ₹83,941.7 crore (₹76,080.4 crore).
Eicher Motors skids 2 per cent
Eicher Motors stock was down nearly 2 per cent to Rs 20,910.85 on the NSE today following a report that e lectronic and electric auto components player Flash Electronics India had filed a lawsuit against auto maker Royal Enfield, challenging patent infringement in the US, regarding the production of an important component for two wheelers/ motorcycles. Royal Enfield is a subsidiary of Eicher Motors Ltd.
Sensex heavyweighted stocks
Torrent Pharmaceuticals sees worst day in 8 months
Shares of Torrent Pharmaceuticals Limited down as much as 7.8 per cent to Rs 1525.35, their biggest percentage loss since September 2018.
The drug maker posted a loss of Rs 152 crore for the March-quarter on Monday.
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Torrent Pharma recalls over 8 lakh bottles of hypertension drug from US, Puerto Rico
Oil rises on escalating US-Iran tensions; trade war concerns weigh
Oil prices edged up on Tuesday on escalating tensions between the United States (US) and Iran and on signs that the Organisation of Petroleum Exporting Countries (OPEC) will continue withholding supply this year.
File Photo
What to watch: Aarti Industries - Eyes on result, bonus meet
The board of directors of Aarti Industries on Tuesday will consider and approve the financial results for the period ended March 31, 2019, and recommend final dividend, if any. Besides, the board may consider, if appropriate, a proposal pertaining to issue of bonus shares.
The stock has risen by Rs 72 or 4.45 per cent today at Rs 1,694.70 on the NSE.
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Aarti Industries: Striking a chemistry
Long-standing customer relationship and efficient execution strategies are catalysts
INTRADAY CALLS FOR MAY 21
ICICI SECURITIES RECOMMENDATION
INTRADAY CALLS FOR MAY 21
11.15 am
Daily Currency Strategy (May 21)
ICICI SECURITIES
Buy US$INR in range of 69.65-69.73 intraday
The dollar-rupee May contract on the NSE was at 69.80 in the previous session. May contract open interest declined 12.81% in the previous session.
The US$INR would find support at lower levels. Utilise the downsides in the pair to initiate long positions.
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Rupee records biggest single-day gain in 2 months
Close at 69.74 versus US dollar
11859 • Nifty 50 Futures
NIFTY MAY FUTURES
How to play likely Modi victory? Analysts say mid-caps may shine
A battered corner of India’s $2.1 trillion stock market — mid-cap shares — may be ready to shine after exit polls in India signalled a second term for Prime Minister Narendra Modi.
While the benchmark Nifty 50 Index rallied 3.7 per cent to a fresh peak, the Nifty MidCap 100 Index advanced 4.1 per cent as the strength of the projected victory boosted the broader market. The out performance may continue if Modi does indeed emerge victorious, analysts say.
MID-CAP STOCKS ON NSE
Advances and Declines on NSE
Broker's call: Dishman Carbogen (Buy)
AnandRathi
Dishman Carbogen (Buy)
CMP: ₹220
Target: ₹390
During FY19 Diman Carbogen’s CRAMS (contract research and manufacturing services) revenue grew 17.5 per cent y-o-y to ₹1,470 crore. We believe its CRAMS business would be Dishman’s key revenue growth driver. Oncology as a therapeutic segment is its key focus area, generating about 50 per cent of its CRAMS revenue.
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Dishman Carbogen Amcis: Potent tonic (Buy)
The company derives its strength from the oncology-focused pipeline and CRAMS portfolio
₹344 • SBI
Rupee rises 6 paise against US dollar on foreign fund inflows
Rising for the second straight session, the rupee on Tuesday inched up 6 paise to 69.80 against the United States (US) dollar on fresh foreign funds inflows amid exit poll predictions of a clear majority for the NDA.
Besides, a positive start of the equity markets also supported the rupee, forex dealers said.
However, a strong US dollar against major global currencies and rising crude prices capped gains of the domestic unit, they added.
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Rupee records biggest single-day gain in 2 months
Close at 69.74 versus US dollar
Tata Motors falls on dwindling quarterly sales of Jaguar Land Rover
Shares of Tata Motors fell four per cent to Rs 181.65, a day after announcing the Q4 results
On Monday, Tata Motors posted a 47 per cent drop in quarterly profit, as it kept struggling to sell its luxury Jaguar Land Rover (JLR) cars
“The recent channel-checks, with dealers in China, show that the progress on ground has been slow with dealers still incurring losses on JLR sales,” said analysts at Jefferies.
₹307 • ITC
Sensex up 133 points; Nifty gains 38 points
The benchmark BSE Sensex jumped over 200 points to hit a record intra-day high of 39,565.82 as investors’ euphoria over exit poll outcome continued in early session on Tuesday.
The 30-share index was trading 133.58 points, or 0.34 per cent, higher at 39,494.57.
In similar movement, the broader NSE Nifty rose 38.55 points, or 0.33 per cent, to 11,866.80.
In the previous session, the Sensex ended 1,421.90 points, or 3.75 per cent, higher at 39,352.67, and the Nifty soared 421.10 points, or 3.69 per cent, to 11,828.25.
Top gainers in the Sensex pack in morning trade include HDFC twins, Bajaj Finance, Coal India, RIL, Bajaj Auto, HUL, IndusInd Bank, Sun Pharma, Vedanta, Axis Bank and Asian Paints, rising up to 2.21 per cent.
On the other hand, Tata Motors, Yes Bank, Bharti Airtel, Tata Steel, SBI, Infosys, ONGC and TCS fell in the range between 1.50 per cent and 5 per cent.
NSE TOP LOSERS
NSE TOP LOSERS
NSE TOP GAINERS
TOP GAINERS ON NSE
₹722 • Infosys
Broker's call
Intra-day future recommendation by ICICI SECURITIES
1. Buy Ujjivan Financial in the range of | 344.00-345.00
2. Sell Aurobindo Pharma in the range of | 672.00-674.00
Given below are supports and resistances for Nifty 50 futures and seven key stocks that can help in your intra-day trading:
₹1325 • Reliance Ind.
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Vedanta, ONGC, RIL-BP in fray for oil, gas blocks offered under OALP-II, III rounds
14 blocks are on offer in the second round, while 23 are on offer in the third
Brokers's call
ICICI SECURITIES
Nifty
The Nifty posted its biggest single day rally since 2009. Buying was seen across sectors. As long as the Nifty trades above 11600, the index could continue its recovery towards 12000. On the F&O front, 12000 Call holds maximum OI. This can act as an immediate hurdle on the upside.
Nifty futures ended at a premium of 34 points with a fall in IVs by 18%. The highest Put base has remained at the 11000 strike with almost 33 lakh shares while the highest Call base is at the 12000 strike with 34 lakh shares.
Bank Nifty
The Bank Nifty rallied over 4% and settled above 30800. Top contribution was seen from HDFC Bank , SBI,Axis Bank and Kotak Mahindra Bank . It opened higher. Follow-up buying was witnessed throughout the session. The ongoing positive trend in the index is expected to stay intact till it holds 30200.
On the F&O front, no major OI base is noticeable in near ATM strikes. However, immediate Call OI base at 31000 may act as a hurdle on the upside. From an intraday perspective, we advise buying Bank Nifty on dips.
Nifty Next 50 stocks
NSE SECTORAL INDICES
Wall Street slides as Huawei fallout hits tech shares
The United States (US) stocks slid on Monday as the White House's restrictions on Chinese telecoms equipment maker Huawei Technologies weighed on the technology sector and raised concerns that the move would further inflame trade tensions between the US and China.
Banks and tech helped lead Wall Street higher on Monday. File Photo
Today's Pick: Equitas Holdings (₹135.7): Buy
Investors with a short-term perspective can buy the stock of Equitas Holdings at current levels. The stock has been in a medium-term uptrend since taking support at ₹78 in late October 2018.
Day Trading Guide for May 21, 2019
Given below are supports and resistances for Nifty 50 futures and seven key stocks that can help in your intra-day trading:
₹2432 • HDFC Bank
₹722 • Infosys
Asian shares near four-month lows on Huawei fallout fears
Asian shares wobbled near four-month lows on Tuesday on mounting worries the White House's black-listing of Chinese telecom giant Huawei Technologies could further inflame already tense relations between Washington and Beijing.
MSCI's broadest index of Asia-Pacific shares outside Japan was flat in early trade but stayed close to a four-month low touched on Friday.
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