US stocks rose on Tuesday as gains in technology and financial shares helped major indexes recover from their worst selloff in about four months on worries over a coronavirus outbreak and its impact on global growth.
Markets across the world stabilized as the head of the World Health Organization (WHO) said he was confident in China's ability to contain the virus outbreak, which has killed 106 people, prompted businesses to close operations and curbed travel.
Stocks to bet on ahead of Budget 2020
A constant trade below 12,010 level will drag it further lower to 11,970-11,920 levels. On the upside, the 12,080 level will act as a hurdle. If the bulls take it out, it will trigger a short covering rally towards the 12,150-12,180 range
- Aditya Agarwala, YES Securities
The key support area of the previous opening upside gap of January 9 has been filled completely at 12,045. This is a negative sign. There is a possibility of further weakness in the market. The next important support is placed at 11,930, which is a swing low of January 8. We expect the area to be tested soon
- Nagaraj Shetti, Technical Research Analyst, HDFC Securities
Nifty continued to form lower lows for most part of the day and formed a Bearish candle on the daily chart. The index carried its negative momentum into the second consecutive session and hovered around its crucial support of 50 EMA on the daily chart. Going forward, as long as Nifty holds below 12,150 level, it could drift towards the next major support at 11,980 and then 11,929 levels, while on the upside hurdle is seen at 12,150 and then 12,220 levels
Bulls lose the grip as Nifty slipped below the important support zone of 12,100. Nifty is vulnerable for further downside towards the support zone of 11,800. Metals were under pressure. In the near term, long positions should be exited. Expect volatility to persist ahead of Budget. The 12,250 zone is likely to act as resistance on recoveries. Support is at 12,000-11,800 and resistance is in 12,100-12,250
- Manav Chopra, Head Research - Equity, Indiabulls Ventures
Nifty’s outlook is weak in the near term. It is trading close to its psychological support of 12,000. Incremental selling pressure below this point may lead the index towards 11,800
Auto sector has given a setback to the market due to low demand, fall in realisations and higher competition. India is taking a careful approach since Q3 has not given a positive sign of revival in corporate earnings as expected. Global market is negative on concerns that Coronavirus issue may slowdown the world economy
- Vinod Nair, Head of Research, Geojit Financial Services
RIL, ICICI Bank send Sensex 188 pts lower; Nifty ends near 12,050; Airtel tanks 4%, Tata Steel 3%
Japanese shares slipped on Tuesday, with the Nikkei hitting a three-week closing low, as the new coronavirus spread in China and beyond, prompting authorities to take more drastic measures to contain its outbreak, Reuters reported.
European shares rebound from worst day in nearly four months
European stocks rose on Tuesday, after posting their worst day in about four months in the previous session on concerns about the potential impact on businesses from the coronavirus outbreak, Reuters reported.
Coal India production rises 10.7% in January
Price as on 28 Jan, 2020 02:33 PM, Click on company names for their live prices.
Maruti Suzuki skids as Q3 net misses street estimates
Price as on 28 Jan, 2020 02:23 PM, Click on company names for their live prices.
Telecom stocks slip; Vodafone Idea down 9.5%, Bharti Airtel slips 4%
Price as on 28 Jan, 2020 01:46 PM, Click on company names for their live prices.
Asian stocks crumble as China virus toll mounts, safe havens in favour
Asian stocks took a battering as the death toll from a virus in China climbed, leaving investors fretting over the widening economic fallout from the outbreak and lifting bonds on expectations central banks would need to keep stimulus flowing, Reuters reported.
Coal Minister Pralhad Joshi says CIL gets green nod for 17 mining projects; stock recovers
Price as on 28 Jan, 2020 01:22 PM, Click on company names for their live prices.
ITI continues to slump amid tepid response to its Rs 1,400 crore FPO
Price as on 28 Jan, 2020 01:14 PM, Click on company names for their live prices.
Clearly, the (budget) expectations are there on taxation front and the market is looking for capital gain tax adjustments and for revival of growth in real estate or manufacturing sectors or even sectors like textiles, which can generate jobs help revive the economy.
- A Balasubramanian, CEO, Aditya Birla Sun Life AMC
Wabco India Q3 profit drops 35% to Rs 39 crore
Price as on 28 Jan, 2020 12:33 PM, Click on company names for their live prices.
Nifty Financial Services index up; HDFC climbs 3%
The Nifty Financial Services index was up with its components trading higher in Tuesday's afternoon session. Shares of HDFC (up 2.67 per cent) , Mahindra & Mahindra Financial (up 1.49 per cent) , HDFC Life Insurance (up 1.48 per cent) , Bajaj Finserv (up 1.3 per cent) , Bajaj Finance (up 1.26 per cent) were the top gainers.
InterGlobe Aviation rises 3% on strong Q3 results
Shares of InterGlobe Aviation on Tuesday jumped over 3 per cent after the company reported a steep rise in profit after tax in the quarter ended December 2019. The scrip climbed 3.23 per cent to Rs 1,541.20 on the BSE. On the NSE, it gained 3 per cent to Rs 1,541. The parent of the country's largest airline IndiGo on Monday reported a steep rise in profit after tax at Rs 496 crore in the three months ended December 2019, mainly helped by higher income.
Promoter group companies invoke pledge shares in RCap, sell 4.35% stake
Price as on 28 Jan, 2020 11:56 AM, Click on company names for their live prices.
The coronavirus issue is impacting the sentiments globally. Back home, things are looking up in terms of expectations that have been built around the Budget. The Budget, hopefully, should set the further direction not only for the market but for economic growth as well as for the earnings growth that the market is waiting for. That is a big event over the weekend and the entire market is keenly waiting for the details on that.
- Siddhartha Khemka, Head of Retail Research, MOSL
Going forward, if Nifty fails to surpass above 12,150-12,200 zones then it could drift towards next major support of 12,050-12,000 zones while on the upside. hurdle is seen at 12,200 then 12,250 levels.
Dalal Street isn’t building in big expectations from the Union Budget this time around, and history does not suggest any big gains for the market in the pre-Budget week. But chances of market sentiment improving post Budget are a tad higher, if past record is anything to go by.
Mitsubishi UFJ Financial Group cuts stake in Tata Power to 4.60% from 6.61%
Price as on 28 Jan, 2020 11:10 AM, Click on company names for their live prices.
ITI FPO subscribed 10% so far; issue closes today
The Rs 1,400 crore follow-on public offer (FPO) by ITI got 10% subscription on Day 3 of the bidding process. At a price band of Rs 72-77, the FPO received bids for 1,75,30,050 shares so far compared with the issue size of 18,18,00,000equity shares. By 10.45 am, the QIB portion was subscribed 5% while the non-institutional quota limit was subscribed 1%. The portion reserved for retail investors was subscribed 56%. The employee portion was subscribed 20%.
The Aditya Birla Group behemoth appears to be ticking all the correct boxes. Acquired assets are now beginning to run at full tilt, debt is reducing, and blended price realization is improving — at 4.4% — at UltraTech that alone accounts for about a fourth of India’s installed cement capacity.
Start-up IPO Tranway Technologies subscribed 56% on Day 2 so far
The initial public offer (IPO) by IT consulting services firm Tranway Technologies has seen 56 per cent subscription so far on Day 2 of the bidding process. The issue received bids for 23,80,000 shares by 10.30 am on Tuesday, which was 56.13 per cent of the total issue size of 42,40,000 shares, data available with BSE suggested. The issue will close on Wednesday. The company intends to raise Rs 4.2 crore by offering 42,40,000 fresh shares with a face value of Rs 10 each.
HDFC gains 2% on 4-fold jump in Q3 net profit
Price as on 28 Jan, 2020 10:19 AM, Click on company names for their live prices.
Godfrey Phillips denies reports of potential stake sale by promoters; stock still down 2%
Price as on 28 Jan, 2020 10:17 AM, Click on company names for their live prices.
Cholamandalam Investment fixes QIP floor price at Rs 322.59 per share
Price as on 28 Jan, 2020 10:13 AM, Click on company names for their live prices.
Ujjivan Small Finance Bank says Sachin Bansal resigns as Independent Director
Price as on 28 Jan, 2020 10:10 AM, Click on company names for their live prices.
Alembic Pharmaceuticals gets USFDA's final approval for Azithromycin tablets
Price as on 28 Jan, 2020 10:09 AM, Click on company names for their live prices.
Rupee rises 6 paise to 71.37 against US dollar in early trade
The Indian rupee appreciated by 6 paise to 71.37 against the US dollar in early trade on Tuesday tracking gains in domestic equity market and easing crude oil prices.
Forex traders said rupee is trading in a narrow range amid fast-spreading coronavirus outbreak in China stoking fears about more trouble for the global economy.
Aptech drops 2% as Rakesh Jhunjhunwala under Sebi lens for insider trade
Shares of Aptech fell 2.10 per cent to Rs 169.75 as billionaire investor Rakesh Jhunjhunwala is being probed by Sebi for alleged insider trading in the shares of Aptech, an education firm owned by him and family, said two people familiar with the development. The markets regulator is also investigating the role of other family members who are shareholders, as well as some board members, including investor Ramesh S Damani and director Madhu Jayakumar, the persons added.
Wockhardt jumps 5% as Cipla eyeing stake in formulations business
The stock rose 5 per cent in Tuesday's trade on reports that Cipla and Asian buyout fund PAG are vying with each other to acquire a big chunk of Wockhardt’s domestic formulations business for Rs 2,100-2,800 crore ($300-400 million) as the indebted pharmaceutical company looks to deleverage its balance sheet, said people aware of the matter.
Ahead of Q3 results...
Price as on 28 Jan, 2020 09:29 AM, Click on company names for their live prices.
Pre-open session: Sensex gains 170 points, Nifty above 12,150; rupee trades at 71.37 against dollar
Singapore trading sets stage for negative start
Nifty futures on the Singapore Exchange traded 18 points, or 0.15 per cent, lower at 12,098, indicating a negative for Dalal Street.
Tech view: Nifty forms strong bearish candle
Nifty barely held above 12,100 level on Monday and formed a strong bearish candle on the daily chart. The index is trading close to its 50-day exponential moving average at 12,087 level, which has been acting as a strong support for the index in last few sessions. Analysts said Nifty holding on to the 12,100 level will be key for any upside. On the downside, a fall below the 12,080-12,040 range may trigger sharp selling, they said.
Asian stocks tank in early trade
Asian stocks extended a global selloff on Tuesday as China took more drastic steps to combat the coronavirus, while bonds found favour on expectations central banks would need to keep stimulus flowing to offset the likely economic drag. MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.8 per cent in early Asian trading on Tuesday. Japan's Nikkei was 0.7 per cent down, Australian shares stumbled 1.3 per cent and South Korea's Kospi index skidded 2.6 per cent.
US stocks settled lower
US stocks fell sharply Monday, sending the Dow Jones Industrial Average down by more than 450 points, as investors grappled with fresh worries about the spread of a new virus in China that threatens global economic growth. The Dow Jones Industrial Average fell 453.93 points, or 1.6 per cent, to 28,535.80. The S&P500 index dropped 51.84 points, or 1.6 per cent, to 3,243.63. The Nasdaq lost 175.60 points, or 1.9 per cent, to 9,139.31.
Jhunjhunwala under Sebi lens for ‘insider trading’
Billionaire investor Rakesh Jhunjhunwala is being probed by Sebi for alleged insider trading in the shares of Aptech Ltd, an education firm owned by him and family, reports ET. The markets regulator is also investigating the role of other family members who are shareholders, as well as some board members, including investor Ramesh S Damani and director Madhu Jayakumar.
Oil price fall extends to sixth day
Oil futures slipped on Tuesday, extending losses into a sixth session as the spread of a new virus in China and other countries raised concerns about a hit to economic growth and slower oil demand. Brent crude was down 15 cents, or 0.3 per cent, to $59.17, after touching a three-month low on Monday at $58.50.
Maruti, Infibeam to report Q3 earnings today
Maruti Suzuki, Mastek, Tata Coffee, Ramco Systems, JK Lakshmi Cement, Infibeam Avenues, TeamLease Services, Central Bank of India and Wonderla Holidays are some of the companies which will report their December quarter earnings today.
FPIs sell Rs 439 crore worth stocks
Net-net, foreign portfolio investors (FPIs) were sellers of domestic stocks to the tune of Rs 439 crore on Monday, data available with NSE suggested. DIIs were net buyers to the tune of Rs 10.51 crore, data suggests.
Good morning, dear reader! Here's something to kickstart your trading day