Closing Bell

Stock market indices ended slightly higher after having moved sideways in listless manner for most part of the session. The market breadth stayed even, as the number of advancing scrips in the benchmark Sensex were 16 and that of decliners 15.

The Sensex rose over 100 points in early trade led by gains in Infosys, HDFC twins and ITC. Later, the movement was trapped in a narrow range during the entire trading session.

It seemed that market players had turned cautious after a couple of worrying news that doused the overall positive sentiment that prevailed in early part of the week. While the core sector performance in September 2019 has been the lowest in the last 12 months, that fell sharply, by 5.2 per cent, the manufacturing PMI growth hit a two-year low in October as new orders and output rose at a slower pace.

Added to this, it was said that the fiscal deficit in the first six months of 2019-20 reached almost 93 per cent of the full-year target.

The 30-share index ended 35.98 points, or 0.09 per cent, higher at 40,165.03, and the broader NSE Nifty advanced 22.05 points, or 0.19 per cent, to 11,899.50.

Top gainers in the Sensex pack included IndusInd Bank, Tata Stee, Vedanta, Tech Mahindra, ONGC, Axis Bank and ITC  rising up to 5.20 per cent.

On the other hand, YES Bank, TCS, M&M, Asian Paints, Tata Motors, L&T, and RIL fell up to 5.50 per cent.

Foreign institutional investors purchased a Rs 1,870.87 crore in the capital market, on Thursday, while domestic institutional investors sold shares worth Rs 650.73 crore, data available with stock exchange showed

 

 

 

 

 

 

 

 

 

 

IOL Chemical and Pharma in pink of health, up 6.50%

IOL Chemical and Pharmaceuticals shares rose sharply on bourses today influenced by the news that it has been making prepayment of its term loans.

The stock was steadily going up from Rs 172 on October 25 to Rs 200.80 as of today. On the NSE, the stock was up Rs 12.55, or 6.55%,  to Rs 200.80 today.

The stock has gone up influenced by reports that it has made a ₹22.11-crore prepayment of a term loan to a bank in addition to its scheduled repayments.

 

NIFTY SECTORAL INDICES

 

 

Motilal Oswal Financial jumps 12% on results

Motilal Oswal Financial Services shares jumped over 12% on the BSE today. The buying interest in the counter was seen in the backdrop of recent earnings report for the second quarter.

At 12.20 pm, the stock was seen quoted higher by Rs 77.10, or 12.45%,to Rs 696.15 on the BSE today.

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Nifty rollovers point to good prospects in November

 

The rollover of Nifty50 futures signals that November may be a good month for index traders. The Nifty50 futures saw a rollover of about 84 per cent, against the three-month average of 75 per cent. The rollover figure hints that longs’ open interest positions have been rolled over to the November series.

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Dish TV shares soar 19% after recent price hammering

Dish TV stock soared nearly 20% to Rs 14.90 on the BSE today. Volumes traded in the counter were to the extent of 32.69 lakh shares.

On the NSE too, the stock rose 19% to Rs 14.85 with volumes of 5.49 crore shares traded as at 11 am.

Recently, the stock was hammered from around Rs 26 on August 26, 2019 to a low of Rs 10.55 on October 30 on the NSE.

Following this, Subhash Chandra-backed Dish TV haD written to SEBI seeking a probe on the unusual trading pattern and the manner of price-hammering of the company’s shares which happened immediately after the company announced its second quarter results.

 

 

 

Caplin Point Lab move up on Q2 earnings

Shares of  Caplin Point Laboratories went up today following 22% increase in its quarterly net profit on stronger sales.

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Rupee will weaken on a decline below 71

The Indian rupee (INR) opened yesterday’s session strongly at 70.78 against its previous close of 70.89 against the dollar (USD). After trading flat, rupee decelerated sharply in the latter part of the session and tested the critical support of 71 before ending the day at 70.92.

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Heavyweights drag markets

Stock market indices slipped in late morning session today taking cues from weak Asian markets.

After opening firm at 40,196.07, the Sensex touched a high of 40,283, but then fell  to a low of 40,014.23, before being quoted at 40,097.98, down by 31.06 points from its previous close.

The NSE Nifty, which toched a early high of 11,918.30, fell down 8.55 points to 11,868.90.

Major losers include Reliance Industries, TCS, M&M, HCL Tech, Asian Paints, Hind UniLever and Tata Motors, which fell between 0.75%-3%.

However, top gainers which provided ample support were IndusInd Bank, which rose 4%, Bajaj Finance (+1.75%), Tech Mahindra (1.50%) and Hero MotoCorp making a gain of 1.20%.

 

 

 

 

 

 

Petronet LNG stock slips

Shares of Petronet LNG slipped today due to profit taking after recent rise in its price.

The company reported that its r evenues declined to ₹9.458.70 crore during the September quarer  from ₹10,856.82 crore in the correspondig quarter of the preceding fiscal.

However, Petronet LNG's  consolidated net profit for the quarter declined to ₹1,089 crore. The higher profit can be attributed to lower tax incidence.

The company's Board of Directors has also declared special interim dividend of ₹5.50 per equity share (of the face value of ₹10 each) for the financial year 2019-2020.

EPS has increased to Rs 7.35 in Q2FY20 from Rs 3.75 YoY.

 

 

 

 

Ahluwalia Contracts stock jumps 7%

The stock of  Ahluwalia Contracts rose sharply today on the back of a news report that it has bagged fresh orders worth Rs 521 crore

The oompany in a statement said yesterday that it has secured three new orders worth ₹521.71 crore.

It bagged an order worth ₹208 crore for construction of NICL work at the corporate office building, Rajarhat, Kolkata, and another ₹161 crore for the construction of Parivahan Parisar at Phulwarisarif Patna (Bihar).

It also bagged a ₹152.71-crore contract for the construction of Bluegrass Residences at Kalyani Nagar, Pune.

 

 

 

 

Broker's call

CESC Research Report:

 

Stocks to watch on positive side :

Tata motors, the rerating in the stock likely on account of good results.

  Stocks to watch on negative side :

IOC on account of weak results, HDFC bank, Kotak bank, the streched valuations likely to cap the upside in these counters, profit booking expected at current & higher levels. Metals & mining on account of weak core sector data Tata Steel, Vedanta.

 

Opening Bell

Stock markets opened marginally higher today aided by gains in heavyweights such as ITC, HDFC, Zee and IndusInd Bank shares.

The 30-share barometer Sensex gained 148.51 points at 40,277.56 and the Nifty, on the NSE, rose 35.75 points at 11,913.20

The US markets ended on a negative note last evening with the  Nasdaq down by -0.14% and Dow down by -0.52%. The Asian markets were negative with the Japan's Nikkei down by 0.41% to 22,833.23.

 

 

 

 

Derivatives (based on Oct 31 prices)

YES Securities report:

Nifty settled the penultimate session for October series at 11870 marks. SGX Nifty indicates flat start for the day, overnight correction was seen in US markets.  

Nifty/BankNifty rollovers were seen at 84/73% (1.49cr/8.1lacs shares) vs 63/57% (1.54cr/9lacs shares) in previous month. 

Nifty rollovers highest in percentage term in past 3yrs data however benchmark index lost OI base from last 2 consecutive expiries.

FII’s start the November series with index futures long to short ratio of 0.7x as reverse arb positions were seen in past few sessions.

Strong rollovers seen on FMCG/Capitals goods on long side while unwinding seen on private banks/Auto stocks and select NBFCs.

 

Dow, Nasdaq down

The US markets ended on a negative note last evening on renewed worries about US-China trade deal with the Nasdaq down by -0.14% and Dow down by -0.52%.

Asian markets were negative with the Japan's Nikkei down by 0.41% to 22,833.23.

 

Today's Pick: Chambal Fertilisers & Chemicals (₹170.3): Buy

The stock of  Chambal Fertilisers & Chemicals  gained bullish momentum and surged 6.4 per cent accompanied by above average volume on Thursday, breaking above a key resistance at ₹160 as as well as the 200-day moving average.

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Asian shares slip on trade deal worry, dollar defensive

 

Asian shares fell on Friday in a weak start to the month and off three-month highs struck this week on fresh concerns over Sino-US trade prospects and ahead of US economic data, while the dollar eased against major rivals.

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