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17 May, 2019 | 08.57AM IST

Traders’ Diary: Nifty has hurdle at 11,300 level

Healthy buying across sectors, led by banks, financials, IT and energy, helped equity benchmarks Sensex and Nifty close with gains on Thursday.

!1 New UpdateClick here for latest updates
09:28 PM

Wall Street gains on earnings boost, strong economic data

US stock indexes rose 1 percent on Monday and were on pace to extend a two-day winning streak, lifted by better-than-expected earnings from Cisco and Walmart, and robust economic data that underscored the strength of the domestic economy. Cisco Systems Inc rose 6.1%, the most among the S&P and the Dow indexes, after the network gear maker gave an upbeat sales forecast and said minimal sales exposure to China have helped cushion the impact from trade dispute.
07:14 PM

Bajaj Finserv Q4 profit jumps 32% YoY to Rs 839 crore, total income up 44%

Bajaj Finserv on Thursday reported a 31.66 per cent year-on-year rise in consolidated profit at Rs 838.74 crore for the quarter ended March 31. The NBFC had posted a net of Rs 637.03 crore in the corresponding quarter last year. Total income jumped 44 per cent to Rs 12,995 crore during the quarter under review. The board of the company also recommended a dividend of Rs 2.50 per equity share.
06:55 PM

Pakistan rupee drops in likely devaluation after IMF bailout

Pakistan’s rupee weakened to a record in an apparent devaluation, four days after the South Asian nation secured a bailout from the International Monetary Fund that investors speculate includes tough conditions to reform the economy. The rupee dropped 3.6%, the most in more than five months, to 146.52 a dollar at close on Thursday, according to central bank data. The currency has plunged more than 20% in the past year, making it the worst performer in a basket of 13 currencies in Asia compiled by Bloomberg.
Pakistan rupee drops in likely devaluation after IMF bailout
06:09 PM

Nifty has formed a ‘Double Inside Bar’ pattern, as it made an Inside Bar within an Inside Bar. The 11,108 and 11,294 levels continue to be the breakout points to watch out for. As per the Wave Structure, Nifty is attempting third leg i.e. Wave C, of a minor degree pullback, which can stretch towards 11,370-11,400

- Gaurav Ratnaparkhi, Sharekhan

06:09 PM

On a short-time frame chart, the index is on the verge of a breakout from an inverted Head & Shoulders pattern, whose neckline is placed at 11,260. A sustained trade beyond this resistance line can take the index to 11,300-11,370 rage. A move below 11,100 may drag it lower to test the 200-DMA, which is placed at 11,035

- Aditya Agarwala, YES Securities

06:08 PM

Nifty formed a Harami pattern and a narrow range Three Bar formation on the daily scale, which indicated that a small follow-up could lead to a short-term bottom ahead of exit poll and election outcome related volatility. Now, it has to hold above 11,250 to extend its bounce towards 11,333 and then 11,420 levels while on the downside support is seen at 11,188 and then 11,118 levels

- Chandan Taparia, Technical & Derivative Analyst, MOFSL

06:07 PM

FII-DII Data

FIIs net sell Rs 953.23 crore and DIIs net buy Rs 948 crore in equities today (provisional)
05:59 PM

NBFC issue is not as bad as it is made out to be

- Arvind Sampath, Head of Treasury, Fullerton India

05:59 PM

NBFCs were growing fast. If the growth is coming, it has to be responsible growth

- Malay Sameer, MD, IndiaNivesh

05:58 PM

All these days, people were focusing on assets side, understanding the liabilities side was missing

- Umesh Revankar, CEO & MD, Shriram Transport Finance

04:14 PM

Sun Pharmaceuticals is in the middle of yet another controversy. The lawsuit filed by 44 US States accused drugmakers of collusion to inflate prices and Taro Pharmaceuticals is one of the 20 pharma companies at the heart of the accusations. Considering the lawsuit it faces, if found guilty, Sun may face penalties which could certainly cause a dent on its numbers. If investors have the risk appetite and the courage they should hold the stock and can add in order to average out. But they should not sell in this panic as “the best bargains arise when there is fear and uncertainty”. And panics are a good time to get into the stock

- Umesh Mehta, SAMCO Securities

04:11 PM

Sensex jumps 279 pts, Nifty back above 11,250; IT stocks rally

04:11 PM

Market is trading volatile, awaiting outcome of general elections and tracking mixed global cues. We do not see this changing any time soon thus advice limiting leveraged trades. Nifty has immediate hurdle at 11,300 and its breakout would trigger further recovery else decline may resume

- Jayant Manglik, President - Retail Distribution, Religare Broking

03:32 PM

CLOSING BELL: IT, private bank stocks propel Sensex 279 pts up; Nifty above 11,250; Bajaj Finance jumps 4%

CLOSING BELL: IT, private bank stocks propel Sensex 279 pts up; Nifty above 11,250; Bajaj Finance jumps 4%
03:19 PM

Bank of India posts Rs 252 crore profit in Q4

State-run Bank of India reported a profit of Rs 251.79 crore for the fourth quarter ended March 2019 owing to reduction of bad loans. The bank had reported a net loss of Rs 3,969 crore in the same quarter of the previous year
02:26 PM

The higher trade tariffs from China definitely make Indian exports more competitive and the industry in general is benefitting over the last two to three years, first because of the clampdown in China and now because of the ongoing trade war which also means that there is more investment coming into India

- Vinati Saraf Mutreja, MD & CEO, Vinati Organics

02:00 PM

Hindalco Q4 profit drops 18% to Rs 506 crore, still beats Street estimates

  • Hindalco Industries reported a 17.9 per cent year-on-year drop in profit at Rs 506 crore for March quarter compared with Rs 616 crore in the corresponding quarter last year. This included numbers from Utkal operations.
  • This was against Rs 377 crore net estimated by analysts in an ET Now poll.
01:47 PM

HFCL falls 12 per cent in Q4 net; record profit of Rs 232 crore in FY19

  • Telecom equipment and network development company Himachal Futuristic Communications Ltd (HFCL) reported a 12 per cent drop in its fourth-quarter net profit even as it ended the fiscal with highest ever order book of about two-and-half-times its current revenues.
  • Net profit in January-March quarter came at Rs 57.51 crore, down from Rs 58.24 crore net profit in the same period of the previous financial year, the company said in a statement.
01:37 PM

European stocks dip as US sanctions on Huawei add to trade anxiety

  • European shares retreated on Thursday after Washington blacklisted Chinese telecoms giant Huawei, adding another confrontational element to the US-China trade dispute.
  • The STOXX 600 index fell 0.4 per cent by 0727 GMT with losses led by Germany's DAX, which is sensitive to tariff and China-related news.
01:15 PM

So far, the earning season has been in line but the problem is about the future earnings revision which is still showing more downgrades than upgrades. Out of the companies which have reported numbers so far, the upgrades to downgrade ratio is pretty poor. We have seen 35-36 companies where earnings have been downgraded by more than 3%, only 20 companies where earnings have been upgraded. So clearly the future direction of earnings is still showing downgrades.

- Gautam Duggad, Head - Research, Motilal Oswal Securities

01:05 PM

Cadila Healthcare at over 4.5 year low; chart points to more downside

  • Shares of Cadila Healthcare fell as much as 4.2 per cent to Rs 249.5, lowest since October 1, 2014. Stock breaks below a support at Rs 255.92, the 76.4 per cent. Fibonacci projection level of the downtrend from September 10, 2018 high to Febuary 15, 2019.
  • Stock's wave pattern suggests, it is in the third wave, typically the longest wave of a five-wave downtrend. In the near term, stock has support at Rs 243.27, the 86.4 per cent projection level.
12:44 PM

Sensex returns in election years since 1980

12:06 PM

IndiGo falls as carrier's promoters fall out

Shares of InterGlobe Aviation slip as much as 6.5 per cent to Rs 1,506, logging their worst intra-day percentage loss since October 9. Promoters Rahul Bhatia and Rakesh Gangwal have allegedly fallen out over differences in, among other things, strategies and ambitions for the airline, ET reported.
IndiGo falls as carrier's promoters fall out
11:33 AM

These 8 stocks scled 52-week highs in today's session

Price as on 16 May, 2019 11:33 AM, Click on company names for their live prices.
11:24 AM

Central Bank of India hits record low on widening Q4 loss

  • Shares of Central Bank of India fell as much as 9 per cent to Rs 25.05, their record low level.

  • The state-owned bank posted March-quarter loss of Rs 2,477 crore compared with the loss of Rs 2,114 crore last year on Wednesday, while provisions and contingencies rose by 19.2 per cent.

  • About 389,640 shares change hands in early trading hours, compared with 30-day average of 689,297 shares.
11:10 AM

Lupin shares fall 6% on USFDA observations

Shares of Lupin plunged 6 per cent during Thursday morning trade, a day after it received three observations from the US health regulator for its Aurangabad-based manufacturing facility. The USFDA carried out an inspection of the plant from May 6 to May 15, Lupin said in a BSE filing.

Lupin on Wednesday said its standalone net profit for the quarter ended March 31 stood at Rs 542.78 crore, up 85.6 per cent, against Rs 292.46 crore in the corresponding quarter a year ago. However, brokerages see the growth prospects of Lupin as clouded.
11:08 AM

12 smallcaps that have been impervious to market swings, rising every month

The selloff in midcap and smallcap stocks that left investors with limited gainers failed to touch 12 stocks, which kept delivering consistent returns month after month so far this calendar.

The list included midcap chemicals player SRF, smallcap private sector lender DCB Bank and textile player Indo Rama Synthetics besides small and microcap stocks Leading Leasing Finance and Investment and Esaar (India), Sahyog Multibase, Jump Networks, Prabhat Technologies, Kavit Industries, Fredun Pharmaceuticals, RACL Geartech and Refex Industries.
12 smallcaps that have been impervious to market swings, rising every month
10:37 AM

Tata Chemicals, Tata Global Beverages shares jump after food business merger

Price as on 16 May, 2019 10:37 AM, Click on company names for their live prices.
10:35 AM

Hindalco Q4 results today: Here's what brokerages say

  • Investors would keep an eye on foreign exchange rate impact at Novelis and aluminium margins when Hindalco Industries reports March quarter earnings.

  • On a standalone basis, Edelweiss Securities expects the firm to report a 19.7 per cent YoY drop in profit at Rs 315 crore, while standalone revenue of the firm is projected to rise 11.7 per cent YoY to Rs 11,515 crore.

  • Motilal Oswal Secrueities sees profit at Rs 404.10 crore, Including Utkal operations, and sales at Rs 11,938 crore. The brokerage pegged consolidated profit (including Novelis operations) at Rs 1,139.80 crore.

  • Emkay Global brokerage expects a 48.6 per cent YoY drop in profit at Rs 193.80 crore on largely flat sales growth.
10:13 AM

Buffett's Berkshire unveils $861 million Amazon stake

Warren Buffett's Berkshire Hathaway Inc said it owned $860.6 million of Amazon.com Inc shares at the end of March, after the billionaire admitted to underestimating the online retailer and its Chief Executive Jeff Bezos.

The size of the investment was disclosed in a regulatory filing detailing Berkshire's U.S.-listed stocks as of March 31.
10:08 AM

Podcast: IndiGo hits air pocket; FIIs press 'sell' button and other news

09:58 AM

Suzlon Energy, YES Bank, Tata Motors among most active stocks on NSE

Price as on 16 May, 2019 09:58 AM, Click on company names for their live prices.
09:18 AM

OPENING BELL: Sensex gains 70 pts, Nifty holds above 11,150; Tata Motors jumps 4%, Central Bank drops 7%

OPENING BELL: Sensex gains 70 pts, Nifty holds above 11,150; Tata Motors jumps 4%, Central Bank drops 7%
09:03 AM

Pre-open session: Sensex rises 20 points, Nifty above 11,200

Sensex rises 20 points, Nifty above 11,200; rupee trades at 70.25 against the US dollar.
09:02 AM

Singapore trading sets stage for positive start

Nifty futures on the Singapore Exchange were trading 12.50 points, or 0.11 per cent, higher at 11,174.50, indicating a positive start for the Nifty50.
09:02 AM

Tech view: Nifty forms Inside Bar pattern

Nifty’s immediate support stands at 11,100, a trade below which may extend the ongoing correction to 11,070-11,030 range where the 200-DMA lies, said Aditya Agarwala, Senior Manager, Technical Analyst at YES Securities. “A trade above 11,230 with good volume can trigger a short-covering rally,” he said.
09:02 AM

Asian shares flat

Asian shares steadied on Thursday on news that US is planning to delay tariffs on auto imports, providing much needed relief to markets. MSCI's broadest index of Asia-Pacific shares outside Japan was flat, with both Australia and South Korea little changed. Japan's Nikkei fell 0.6 per cent, with banks hurt by weak earnings.
09:02 AM

Oil prices up for 3rd day

Oil prices edged up on Thursday to extend gains into a third straight session, as tensions in the Middle East stoked fears of potential disruptions to supply. Brent crude futures were at $72.04 a barrel at 0110 GMT, up 27 cents, or 0.4 per cent, from their last close. Brent closed up 0.7 per cent on Wednesday.
09:02 AM

US stocks end higher

In overnight trade, the Dow Jones Industrial Average rose 115.97 points, or 0.45 per cent, to 25,648.02, the S&P500 index gained 16.55 points, or 0.58 per cent, to 2,850.96 and the Nasdaq Composite added 87.65 points, or 1.13 per cent, to 7,822.15.
09:01 AM

China sells most US treasuries in 2 years

China sold $20.45 billion in Treasuries in March, the most since October 2016, following $1.08 billion in purchases the month before. China's stake in Treasuries fell for the first time in four months to $1.121 trillion in March, which was the lowest since May 2017 when it was $1.102 trillion. It was $1.131 trillion in February, the data showed.
09:01 AM

Trade deficit widens to $15.3 bn in April

The trade deficit widened to a five-month high in April to $15.33 billion, as against $13.72 billion a year ago, on the back of higher oil imports at $11.38 billion, a jump of 9.26 per cent, and a 53.99% jump in gold imports to $3.9 billion.
09:01 AM

Antony Waste plans Rs 350-cr IPO in June

Antony Waste Handling Cell, which processes almost half the garbage generated by Mumbai, will tap the capital market in June with ₹350-crore initial public offer, which will make it the first municipal solid waste management company to be listed on the bourses in the country.
09:01 AM

FPIs sell Rs 1,142 crore worth of equities

Foreign portfolio investors (FPIs) sold Rs 1,142.44 crore worth of domestic stocks on Wednesday, data available with NSE suggested. DIIs were net buyers to the tune of Rs 671.77 crore, data suggested.
08:59 AM

Sensex on Wednesday

BSE Sensex ended down 204 points or 0.55 per cent lower at 37,115 with 26 of out of 30 constituents in the red. Its NSE counterpart Nifty settled at 11,157, down 65 points or 0.58 per cent.
08:58 AM

Good Morning, dear reader! Here's something to kickstart your trading day

Good Morning, dear reader! Here's something to kickstart your trading day
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