Market Updates: Nifty ends at 12,090, Sensex up 358 points

Closing Bell:

NSE Nifty closed at 12,090.25,posting a jump of 110.60 or 0.94 per cent. Tata Motors and Yes Bank gained 10.68 and 8.58 per cent, respectively. All the sectoral indices ended in green, except Media which closed at 0.77 per cent.

The BSE Sensex rallied 358.53 points or 0.88 per cent, at 41,147.91. The top gainers in here were: Swan Energy and Tata Motors, While Glaxosmithkline and Castrol India were the top losers. This is the third continuous day wherein the indices have closed on a positve note post the budget 2020 session.

The markets were volatile today as the traders were making decisions on the RBI's Monetary Policy which is set to be released tomorrow.

 

 

 

 

 

 

Company news:

Avadh Sugar & Energy posted net profit of ₹7.5 crores for the December-quarter, against ₹17.22 crores a year ago.

Hikal Ltd posted consolidated net profit of ₹28.36 crore against ₹29.38 crore a year ago.

Sanghi Industries reported a profit of ₹4.94 crore, against ₹4.31 crore a year ago.

Adlabs Entertainment reported consolidated loss of ₹54.06 crore compared to the loss of ₹42.26 crore in the year ago period. - Reuters

 

Market Update:

The benchmark indices have regained momentum for the afternoon session. The indices have reached their day's high and are now trading quickly upwards. The market is fluctuating as it awaits the RBI's monetary policy report scheduled to be released tommorrow.

The NSE Nifty benchmark indice is trading at 12,086.45, with a major jump of 106.80 points or 0.89 per cent. Tata Motors and Yes Bank gained 7.60 and 7.30 per cent, respectively. Meanwhile, Zee Entertainment is still dragging in red, while dropping 8.67 per cent. Followed by Hero Motocorp and Dr.Reddy's.

 

The 30-pack BSE Sensex also posted major jump for the afternoon session. It trades at 41,136.02, with a jump of 346.64 points or 0.85 per cent. Tata Steel gained 3.05 per cent, L&T was up 1.98 per cent. Hero MotoCorp dropped 4.42 per cent, followed by Maruti at 1.90 per cent fall.

Asian markets build on global rally as virus fears ease

Asian markets has extended this week’s global rally following a fresh record in New York, while safe havens retreated as concerns about the impact of the deadly China virus eased.

Despite Beijing announcing that almost 500 people had died from the outbreak and more than 24,000 were infected, analysts said traders were taking heart from the fact that the spread outside China had not spiralled.

Moves by Chinese authorities to support mainland stocks were also providing cheer, with the central bank pumping more than $200 billion into financial markets and the government easing restrictions on equities trading.

There had been a worry that the virus could hammer the global and Chinese economies, which had been showing signs of stabilising in recent months following a protracted growth slowdown.

Sydney and Seoul each gained 0.4 percent, while Singapore was up one per cent. Mumbai, Manila, Taipei, Jakarta and Wellington were also well into positive territory.

The gains tracked a strong lead from Wall Street, where the Nasdaq surged more than two percent to a new record.- PTI

 

Zydus Wellness Q3 net profit at ₹4 crore

Consumer healthcare firm Zydus Wellness reported a consolidated net profit of ₹4.24 crore for the quarter ended December 31, 2019.

Consolidated revenue from operations of the company stood at ₹332.67 crore for the quarter under consideration. It was ₹145.41 crore for the same period a year ago.

Shares of Zydus Wellness were trading at ₹1,498.10 per scrip on BSE, down 0.32 per cent from its previous close - PTI

 

 

 

 

 

 

 

 

 

 

 

Russia’s Rosneft keen to bid for BPCL

Russia’s largest oil producer Rosneft is keen to bid for acquisition of Bharat Petroleum Corp Ltd (BPCL), sources said after the Russian firm’s CEO Igor Sechin met Oil Minister Dharmendra Pradhan on Wednesday.

Rosneft, which is the majority owner of India’s second biggest private oil refinery, is keen to expand in the world’s third largest and the fastest growing energy market.

The government is selling all of its 53 per cent stake in BPCL in the country’s biggest privatisation plan. - PTI

 

 

 

 

Trading Call | Ujjivan Financial Services (₹407): Buy

The stock of Ujjivan Financial Services gained 6.5 per cent with above average volume in today's trading session, surpassing a key resistance at ₹400. Investors with a short-term view can buy the stock at current levels. READ MORE ABOUT THE STOCKS OF UJJIVAN FINANCIAL SERVICES HERE

 

 

Market Update:

The noon session started with benchmark indices turning flat. Both NSE Nifty and BSE Sensex are in green, but are off their day highs.

The broader Benchmark indice Nifty50 is at 11,995.70, posting a jump of 16.05 points or 0.13 per cent. Among the sectoral indices, Nifty Bank, IT, Media, PSU Bank and PVT Bank posted a decline. 

The top gainers in the NSE Nifty index were Yes Bank (8.73 per cent), Tata Motors (6.25 Per cent) and BPCL(2.38 per cent). The top losers were: Zee Entertainment (7.03 per cent), Hero MotoCorp (2.69 per cent) and Dr. Reddy's (2.31 per cent).

 

The 30-Pack BSE Sensex also slowed its trade. It is now trading 40,823.21, showing a jump of 33.83 points or 0.08 per cent. The top gainers in here were: Tata Motors (6.82 per cent) Swan Energy (15.50 per cent), Yes Bank (6.50 per cent). The losers were: Avanti Feeds (12.48 per cent), Zee Entertainment (7.08 per cent) Cochin Shipping (5.68 per cent).

Around  1205 advance, 965 declined and 150 remained unchanged.

 

 

 

 

 

 

Granules India shares jump on USFDA nod for Valganciclovir hydrochloride oral solution

Drug firm Granules India Ltd on Wednesday said its foreign arm has received approval from the US health regulator for Valganciclovir hydrochloride oral solution, an antiviral medication.

“The US Food & Drug Administration (USFDA) has approved the Abbreviated New Drug Application (ANDA) filed by Granules Pharmaceuticals, Inc, a-wholly owned foreign subsidiary of Granules India Ltd for Valganciclovir hydrochloride for oral solution, 50 mg/ml,” the company said in a regulatory filing. - PTI

Here is how the stock of granules India has been doing on NSE.

 

 

 

Gainers and losers list update:

BSE Gainers List:

BSE Losers list:

NSE Gainers and losers list:

 

 

BSE Sensex Update:  

 

 

Indo-US trade deal

India and the US are set to seal a trade deal during President Donald Trump’s planned visit to India in the last week of this month, multiple sources said on Tuesday.

Trade officials of Indian and the US are giving final touches to the proposed deal which is expected to cover certain specific sectors, they said. Trump is set to visit India on a two-day trip between February 23 and 26 and both sides are in the process of fine-tuning his schedule, sources said.

The main segment of the visit will take place in the national capital, though an option of having a short visit by Trump to another city is being explored.

The cities which are being considered include Agra and Ahmedabad. A high-level logistics team from Washington handling Trump’s foreign trips visited India last week as part of preparations for his maiden tour of India. Read more on the India-US trade deal here

 

 

 

Rupee Open:

Rupee on Wednesday opened 8 paise higher at 71.17 against US dollar in early trade.

 

 

 

 

Asian shares up as China stocks edge higher but caution prevails

Asian stocks steadied on Wednesday as Chinese stocks nudged higher on hopes of additional stimulus to lessen the economic impact of a coronavirus outbreak, but risks remain as the illness continues to spread and the death toll neared 500.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.36 per cent.

Shares in China rose 0.5 per cent while stocks in Hong Kong climbed 0.42 per cent in early trading.

The onshore yuan was little changed versus the dollar, highlighting the cautious mood as investors monitor the impact of the virus.

The safe-haven yen and Swiss franc nursed losses versus the dollar. Oil prices bounced in Asia on hopes for more output cuts from OPEC and its allies but sentiment remained weak on worries about a long-term dent in demand for energy and other commodities.

China and other countries have imposed travel restrictions to try to contain a new virus that emerged in the central Chinese city of Wuhan late last year, slamming the breaks on manufacturing and tourism in the world's second-largest economy.

Many investors argue that any slowdown will be temporary and that Chinese policy steps are reason to remain optimistic about the growth outlook, but so far public health officials have not found a way to stop the spread of the virus both inside and outside of China. Read more about the Asian market here .

Benchmark indices open in green

Market benchmark Sensex jumped over 100 points in opening session on Wednesday tracking gains in index-heavyweights Reliance Industries, HDFC Bank and Axis Bank amid firm recovery in global equities.

The 30-share BSE index was trading 115.08 points or 0.28 per cent higher at 40,904.46, and the broader NSE advanced 26.15 points, or 0.22 per cent, to 12,005.80.

In the previous session, Sensex closed at 40,789.38, up 2.30 per cent or 917.07 points. This was the biggest single-day rise for the Sensex since September 23, 2019. Likewise, Nifty settled at 11,979.65, surging 2.32 per cent or 271.75 points.

Meanwhile, on a net basis, foreign institutional investors bought equities worth Rs 366.21 crore, while domestic institutional investors purchased shares worth Rs 601.86 crore on Tuesday, data available with stock exchanges showed.

Mahindra and Mahindra, Bajaj Auto, Bharti Airtel, HCL Tech and L&T were among the top gainers in the Sensex pack.

While ITC, Infosys, Hero MotoCorp, Asian Paints, Titan, UltraTech Cement and HDFC were trading in the red.

According to analysts, markets were trading in the positive territory on the back of encouraging data points related to the domestic economy.

Other factors like substantial fall in crude prices, a rise in Indian rupee and positive Asian markets also helped the market move higher, they added. - PTI

 

 

 

What to watch

 

Bosch, NIIT, HPCL, Adani Gas results eyed

Almost 100 companies will declare their quarterly results on Wednesday. Among them are Adani Gas, Adani Enterprises, Ajanta Pharma, Andhra Bank, Apollo Tyres, Berger Paints, Bosch, Brigade, Cipla, Cadila Healthcare, Divi’s Labs, DLF, Engineers India, GE Power, Godrej Agrovet, Greaves Cotton, Greenpanel, GTL Infra, Gujarat Gas, Hikal, Indiabulls Housing Fin, Jyothy Labs, Kaveri Seeds, NIIT, PTC India, Schneider Electric, Shalimar Paints, Sundaram Clayton and Zuari Agro.

HPCL hovers at a crucial level

The stock of Hindustan Petroleum Corp (HPCL) announce Q3 results today. Following a prolonged downtrend, the stock tested a significant support at ₹223 and bounced back, gaining 3.7 per cent on Tuesday to end at ₹231.6 on the BSE. The outcome of the quarterly results could provide a clear direction for the stock. A strong plunge below ₹223 will strengthen the downtrend and drag the stock down to ₹217 and ₹220 levels. But positive results can push it up to ₹240 and ₹250 levels.

DLF stock now in recovery mode

After a 12 per cent tumble on Budget day, the stock of DLF recover some lost ground in the past two trading sessions. It gained 6 per cent accompanied by above-average volume on Tuesday to close at ₹245.3, ahead of Q3 results announcement today. There has been a rise in daily volumes over the past four trading sessions. The stock faces a crucial resistance at ₹262 that has been capping the upside since mid-December year last. A rally above this level can test ₹270. Supports are at ₹235 and ₹220.

Opening Bell:

Sensex opens 132.33 points higher at 40,921.71; Nifty advances 26.2 points to 12,005.85.

Day Trading Guide:

Given below are supports and resistances for Nifty 50 futures and seven key stocks that can help in your intra-day trading:

₹1229 • HDFC Bank

S1	S2	R1	R2	COMMENT
1215	1200	1245	1260	Initiate fresh long positions with a stiff stop-loss if the stock reverses higher from ₹1,215 levels

 

₹787 • Infosys

S1	S2	R1	R2	COMMENT
778	770	797	806	Fresh long positions are recommended with a tight stop-loss only if the stock of Infosys rallies above ₹797 levels

 

₹215 • ITC

S1	S2	R1	R2	COMMENT
211	207	219	223	Make use of intra-day dips to buy the stock of ITC while maintaining a stiff stop-loss at ₹211 levels

 

₹106 • ONGC

S1	S2	R1	R2	COMMENT
103	100	110	114	Fresh long positions can be initiated with a fixed stop-loss only if the stock of ONGC rebounds up from ₹103 levels

 

₹1425 • Reliance Ind.

S1	S2	R1	R2	COMMENT
1410	1395	1440	1455	Consider initiating fresh long positions with a tight stop-loss if the stock of RIL bounces up from ₹1,410 levels

 

₹306 • SBI

S1	S2	R1	R2	COMMENT
298	293	312	320	Initiate fresh short positions with a fixed stop-loss only if the stock fails to move beyond ₹312 levels

 

₹2107 • TCS

S1	S2	R1	R2	COMMENT
2085	2065	2130	2150	Fresh short positions can be initiated with a stiff stop-loss if the stock declines below ₹2,085 levels

 

11964 • Nifty 50 Futures

S1	S2	R1	R2	COMMENT
11910	11860	12010	12060	Initiate fresh long positions with a tight stop-loss only if the contract reverses higher from 11,910 levels

 

S1, S2 : Support 1 & 2; R1, R2: Resistance 1 & 2.