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Economic Times | 07 Jul, 2020 | 07.16AM IST

Traders' Diary: Nifty faces immediate resistance at 10,887

RIL, HDFC Bank and TCS lead the market rally as 25 of 30 Sensex stocks end the day in the green

!1 New UpdateClick here for latest updates
09:31 PM

Shriram Transport Finance okays rights issue to promoters for Rs 1,500 crore

Shriram Transport Finance Company (STFC) on Monday said the company's securities issuance committee has given its go-ahead to rights issue of equity shares to the promoters and promoter group to raise up to Rs 1,500 crore. The firm's securities issuance committee in its meeting on Monday approved the rights issue of equity shares of a face value of Rs 10 each for an amount not exceeding Rs 1,500 crore, STFC said in a regulatory filing.
09:15 PM

Additional Rs 1.67 trillion debt may turn delinquent, says India Ratings

India Ratings and Research (Ind-Ra) said on Monday it believes the impact of Covid-19 and the associated policy response is likely to result in an additional Rs 1.67 trillion of debt from the top 500 debt-heavy private sector borrowers turning delinquent between FY21-FY22. The ratings agency said this is over and above the Rs 2.54 trillion anticipated prior to the onset of the pandemic, taking the cumulative quantum to Rs 4.21 trillion, and constitutes 6.63 per cent of the total debt, compared to the previous estimate of 4 per cent.
08:57 PM

Banks and NBFCs report mixed Q1 performance

Banks and non-bank lenders showed mixed performance in their loan and deposit growth numbers at the end of quarter ended June 30. Bajaj Finance, the market leader in consumer lending witnessed tepid growth with assets under management (AUM) rising only 7% on a year on year basis. The non-bank lender said it’s AUM stood at Rs 1.38 lakh crore at the end of June quarter versus Rs 1.28 lakh crore during the same period last year.
08:39 PM

12 things that will decide stock action on Tuesday

As Nifty closed above the 10,750 level on Monday, it also formed higher high and low for the fifth straight session. Chandan Taparia of Motilal Oswal Financial Services said Nifty has to hold above 10,600 level to extend its move towards 11,000 level while on the downside support has shifted higher to 10,550 and then 10,450 levels.
12 things that will decide stock action on Tuesday
08:13 PM

NSE-BSE bulk deals: JP Morgan Funds buys TCS, Gujarat Pipavav shares

Here’s who bought and sold what in some of the key bulk and block deals of the day. JP Morgan funds bought 30,34,518 shares of Gujarat Pipavav from Flagship Indian Investment Company (Mauritius) at Rs 77.85 per share. JP Morgan Funds bought 11,23,162 shares of Tata Consultancy Services (TCS) from Flagship Indian Investment Company (Mauritius) at Rs 2,199 per share. JP Morgan Funds bought 4,10,046 shares of Cummins India from Flagship Indian Investment Company (Mauritius) at Rs 410.70 per share.
08:01 PM

IL&FS case: SAT refuses to stay Sebi proceedings in 2nd show-cause notice against Ind-Ra

The Securities and Appellate Tribunal (SAT) has refused to stay the proceedings initiated by Sebi seeking to impose a higher penalty on India Ratings in the IL&FS matter. Regarding an appeal against Sebi order imposing Rs 25 lakh penalty on India Ratings, the tribunal directed the rating agency to deposit the amount with the regulator within four weeks, which would be subject to the result of the appeal.
07:49 PM

Bajaj Finance may consider additional Covid-19 provisioning in Q1

Bajaj Finance said on Monday it may consider additional accelerated provisioning for Covid-19 in the first quarter of fiscal year 2021 to further strengthen its balance sheet. The consumer goods financier had provided Rs 900 crore as contingency provision in the quarter ended March towards Covid-19. In an exchange filing, the company said its deposit book stood at around Rs 20,000 crore as of 30 June, up 32.6 per cent from Rs 15,084 crore a year ago.
07:33 PM

Nifty risk-reward now most unfavourable in recent times

The domestic equity indices had a much buoyant and better-than-expected start to the week, as they opened higher, got stronger during the session and ended with decent gains. While the US markets were shut on Friday, Asian markets opened higher on back of strong gains in Dow futures. Regardless of any other thing, liquidity continued to propel markets higher without showing any intent to correct.
Nifty risk-reward now most unfavourable in recent times
07:10 PM

Dow Jones gains on hopes of China-led recovery

US stocks rose at the open on Monday on hopes of a China-led recovery from an economic slump brought on by the coronavirus outbreak, with investors brushing aside a domestic surge in new cases of COVID-19 over the long weekend. The Dow Jones Industrial Average rose 168.72 points, or 0.65 per cent, at the open to 25,996.08, while the S&P 500 opened higher by 25.28 points, or 0.81 per cent, at 3,155.29.
06:42 PM

Torrent Power raises Rs 300 crore via NCDs

Torrent Power on Monday said it has raised Rs 300 crore by issuing non-convertible debentures on private placement basis. The company has issued 3,000 non-convertible debentures (NCDs) of Rs 10 lakh each aggregating to Rs 300 crore, it said in a BSE filing.
06:23 PM

India VIX drops to 4-month low

India VIX, the barometer of volatility, ended at a four-month low, down 2.2 per cent to 25.19. This means market participants expect relatively lower volatile movement in benchmark indices going ahead.
05:46 PM

Nifty Bank above 100-DMA

During the trade, Nifty Bank crossed above the 100-day moving average (22,320) for the first time since February 20. The index rose to the day’s high of 22,399 but closed below the crucial resistance at 22198, up 1.59 per cent. All constituent stocks ended the day in green led by PNB that gained over 3 per cent.
05:24 PM

Be stock specific for time being: Shrikant Chouhan

“Indian equities mirrored the global markets rally and closed substantially higher. US futures also traded higher on the back of fresh prospects of an expansion of economic stimulus. Nifty closed above the level of 10750 under the leadership of financials and Reliance Industries. Our markets are receiving every day one or the other booster dose of positive news flow, which has been keeping the bullish trend intact. However, the Nifty is leaving un-filled price gaps that would cause negatively in the near term. Be stock specific for the time being and buy Nifty if it corrects to support levels. Support for Nifty exists at 10700 and 10650,” said Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities.
05:02 PM

Traders should maintain focus on stock selection: Ajit Mishra

"Apart from the global cues, the beginning of the Q1FY21 earnings season and macroeconomic data viz. IIP and CPI data will be the focus ahead. We believe more than earnings, management commentary will be crucial for the market participants, to get a sense of the virus impact over the businesses. Nifty has surpassed the immediate hurdle at 10,750 and now 10,950 is the next critical resistance. Traders should maintain their focus on stock selection and trade management," said Ajit Mishra, VP - Research, Religare Broking
04:42 PM

Nifty's immediate hurdle at 10,887: Mazhar Mohammad

For now, there are no apparent sell signals on charts, said Mazhar Mohammad of Chartviewindia.in, who however felt that the recent intraday narrow ranges on Nifty50 can still be construed as weakening momentum. "The immediate hurdle for the index seems to be its 200-day simple moving average, whose value is placed around 10,887. A weakness may get confirmed with a close below 10695 level," Mohammad said.
04:24 PM

Easing of India-China tensions boosted investors’ sentiments: Ajit Mishra

"Markets made a promising start largely led by supportive global cues and gained over one and a half percent. Further, easing of geopolitical tension between India-China boosted investors’ sentiments. The benchmark opened with strong gains and gradually inched higher as the day progressed. The rally was broad-based as both midcap and smallcap indices ended with healthy gains. On the sector front, apart from FMCG, healthcare and telecom, which ended in losses, all the other sectoral indices supported the rally wherein energy, metals, auto and realty were the top gainers," said Ajit Mishra, VP - Research, Religare Broking
04:00 PM

ITI, BHEL among top 5 gainers on NSE today

Price as on 06 Jul, 2020 04:00 PM, Click on company names for their live prices.
03:39 PM

CLOSING BELL: Sensex takes winning run to 4th day, jumps 466 points; Nifty50 above 10,750; BHEL rallies 12%, M&M 7%

  • RIL, HDFC Bank and TCS lead the market rally
  • 25 of 30 Sensex stocks end the day in the green
  • Index contributors: RIL, HDFC Bank, TCS, Bajaj Fin, M&M
  • Top Index gainers: M&M (7.37%), Bajaj Fin (6.38%), RIL (3.78%)
  • Top Index losers: Bajaj Auto (1.07%), Bharti Airtel (0.87%), HDFC (0.87%)
  • All sectoral indices except telecom, FMCG and healthcare end the day in the green
  • S&P BSE Energy biggest sectoral gainer, up 2.97%
  • S&P BSE Fast Moving Consumer Goods biggest sectoral loser, down 0.82%
  • Volume toppers: TCS, Bajaj Fin, RIL, IndusInd Bank, HDFC Bank
CLOSING BELL: Sensex takes winning run to 4th day, jumps 466 points; Nifty50 above 10,750; BHEL rallies 12%, M&M 7%
03:15 PM

Here are the volume toppers in today's trade

Here are the volume toppers in today's trade
03:12 PM

Airtel, Voda Idea Q1 likely dragged by Covid recharge blues

In the first post-Covid19 estimates, Bharti Airtel and Vodafone Idea (VIL) are likely to report sequential falls in mobile revenue and operating income in the April-June period as many of their feature phone users could not recharge during the pandemic-induced lockdowns, analysts said. Market leader Reliance Jio though, they said, would stave off Covid19 blues and report higher revenue, operating income as well as strong profit growth in the three-month period.
02:52 PM

S&P BSE OIL & GAS up over 1%. This is how the index has performed in the last 3 months

S&P BSE OIL & GAS up over 1%. This is how the index has performed in the last 3 months
02:32 PM

S&P BSE Energy up nearly 3%. This is how the index stocks are performing

S&P BSE Energy up nearly 3%. This is how the index stocks are performing
02:13 PM

Most real estate stocks trading in the green; Brigade Enterprises surges 9%, Sobha, Indiabulls Real Estate 4% each.

Price as on 06 Jul, 2020 02:13 PM, Click on company names for their live prices.
01:56 PM

Average spot power price drops 29 pc to 2.35/unit on IEX

Average spot power price dropped 29 per cent year-on-year to 2.35 per unit in the day-ahead market in June on India Energy Exchange (IEX). The day-ahead market (DAM) traded 4,174 MU (million units) witnessing high sell-side liquidity in the month, with total sell bids at 10,164 MU being close to 1.5 timed the buy bids at 4,661 MU, according to an IEX statement.
01:37 PM

NIFTY TOPS 10,800-MARK

NIFTY TOPS 10,800-MARK
01:10 PM

Sajjan Jindal calls for unity among industrialists to curb Chinese imports

Calling for unity among industrialists to stop imports from China, JSW Group owner Sajjan Jindal on Monday said business cannot go as usual while India soldiers get killed at the LAC by the Chinese. On Thursday his son Parth Jindal, who looks after the cement business of the USD 14-billion group, had said that the group would stop USD 400 million worth annual imports from China in the next 24 months. Referring to the recent clash between Indian and Chinese troops in the Galwan Valley, he said the action is a result of what China did on Indian soil.
01:02 PM

S&P BSE METAL biggest sectoral gainer, up over 3%. This is how the sectoral stocks are doing.

S&P BSE METAL biggest sectoral gainer, up over 3%. This is how the sectoral stocks are doing.
12:43 PM

Rupee gains 15 paise against the US dollar. This is how the currency has performed in the last 3 months

Rupee gains 15 paise against the US dollar. This is how the currency has performed in the last 3 months
12:37 PM

India growth forecast cut again at Citi as virus cases surge

Citigroup Inc. sharply lowered its forecast for India’s economy as the coronavirus pandemic shows no sign of slowing. The nation’s gross domestic product will contract 6% in the fiscal year to March 2021, steeper than Citi’s previous estimate for a 3.5% decline, its analysts led by Samiran Chakraborty, chief India economist in Mumbai, wrote in a report to clients. The revision is largely due to a cut to the fiscal first-quarter forecast -- with the economy seen slumping 21% during the period against 16% estimated earlier. (Source: Bloomberg)
India growth forecast cut again at Citi as virus cases surge
12:33 PM

Lockdown impact: Sobha's Q1 sales bookings down 37 pc at Rs 488 cr

Realty firm Sobha Ltd's sales bookings fell 37 per cent during April-June quarter to Rs 487.7 crore due to the nationwide lockdown to control the COVID-19 pandemic. Its sales bookings stood at Rs 777.7 crore in the year-ago period. In the previous quarter, bookings were down 30 per cent from Rs 694.5 crore.
12:29 PM

This is how the major currencies are faring against each other

This is how the major currencies are faring against each other
12:02 PM

Sensex up over 400 points. This is how the 30-pack index moved in the morning session

Sensex up over 400 points. This is how the 30-pack index moved in the morning session
11:56 AM

These 12 stocks scale 52-week highs on NSE

Price as on 06 Jul, 2020 11:56 AM, Click on company names for their live prices.
11:49 AM

This is how the tourism and hospitality stocks are faring in today's trade

Price as on 06 Jul, 2020 11:49 AM, Click on company names for their live prices.
11:16 AM

Adani Transmission inks pact with KPTL to buy Alipurduar Transmission

Adani Transmission on Monday said it has entered an agreement with Kalpataru Power Transmission Ltd (KPTL) for acquisition of Alipurduar Transmission Ltd. The enterprise value for the project is ascribed as Rs 1,286 crore, Adani Transmission (ATL) said in a regulatory filing. It said equity shares of the company are acquired at a face value of Rs 10 each per share.
10:49 AM

Zydus Cadila gets approval from Mexican authority to test COVID-19 drug

Drug firm Zydus Cadila on Monday said it has received approval from Mexico's regulatory authority Cofepris to test one of its lead research candidate Desidustat in the management of COVID-19. "Clinical and regulatory development of Desidustat in COVID-19 is being executed in Mexico by Avant Santé Research Center S.A. de C.V., a leading contract research organisation headquartered in Monterrey, Mexico," Cadila Healthcare said in a regulatory filing. Shares of Cadila Healthcare, the listed entity of the group, were trading at Rs 363.40 apiece on BSE, 0.78 per cent lower against their previous close. Source: PTI
10:39 AM

Volatility for the currency is expected to remain high and expect the USDINR (Spot) could quote in the range of 74.40 and 75.05

- Motilal Oswal Financial Services

10:31 AM

Tourism & hospitality stocks gain up to 4%; IRCTC worst loser

Price as on 06 Jul, 2020 10:31 AM, Click on company names for their live prices.
10:06 AM

S&P BSE Bankex biggest sectoral gainer, rises 2%; all constituents in the green

S&P BSE Bankex biggest sectoral gainer, rises 2%; all constituents in the green
09:48 AM

Sensex extends gains, rises 350 points

Sensex extends gains, rises 350 points
09:33 AM

Voda Idea, BHEL, IB Housing among most active stocks on NSE

Price as on 06 Jul, 2020 09:33 AM, Click on company names for their live prices.
09:23 AM

OPENING BELL: Sensex rises 250 points, Nifty50 tops 10,700; IndusInd, HDFC Bank jump 3% each

OPENING BELL: Sensex rises 250 points, Nifty50 tops 10,700; IndusInd, HDFC Bank jump 3% each
09:02 AM

Pre-open session: Sensex gains 225 points, Nifty tops 10,700

07:13 AM

SGX Nifty signals positive start

Nifty futures on the Singapore Exchange traded 41.5 points, or 0.39 per cent higher at 10,629.50, in signs that Dalal Street was headed for a positive start on Monday.
07:11 AM

Oil prices mixed as spike in cases casts shadow over demand

Oil prices offered up a mixed market snapshot on Monday, with Brent crude edging higher, supported by tighter supplies, while U.S. benchmark WTI futures dropped on concern that a spike in coronavirus cases could curb oil demand in the United States. Brent crude rose 11 cents, or 0.3%, to $42.91 a barrel by 0109 GMT after a 4.3% gain last week.
07:10 AM

Gold inches up on safe-haven demand

Gold prices edged higher on Monday as worries over a surge in coronavirus infections in the United States dented optimism about signs of a nascent economic recovery, prompting investors to seek the safe-haven metal. Spot gold was up 0.1% to $1,775.97 per ounce by 0031 GMT. U.S. gold futures eased 0.2% to $1,787.30.
07:09 AM

Asia shares at 4-month peak

Asian shares held near four-month highs on Monday as investors counted on super-cheap liquidity and fiscal stimulus to sustain the global economic recovery. MSCI's broadest index of Asia-Pacific shares outside Japan inched up 0.05%, having hit its highest since February. Eyes were on Chinese blue chips, which surged almost 7% last week to their loftiest level in five years. Japan's Nikkei, however, has lagged with its domestic economy and was last up 0.4%.E-Mini futures for the S&P 500 firmed 0.3%.
07:06 AM

Rupee jumps 38 paise to 74.66 against dollar

The rupee jumped by 38 paise to settle at more than three-month high of 74.66 against the US dollar on Friday tracking weakness in the greenback and gains in domestic equities amid optimism over potential Covid-19 vaccine
07:06 AM

US stocks to resume trade

US stocks will resume trade on Monday following Friday’s public holiday on account of Independence Day. On Friday, Germany's DAX edged 0.6 per cent lower to 12,528.18. The CAC 40 in Paris dropped 0.8 per cent to 5,007.14, while Britain's FTSE closed down 1.3 per cent at 6,157.30.
07:05 AM

Tech view: Nifty forms bullish candle

Nifty50 on Friday topped the 10,600 mark on a closing basis. The 50-pack formed an indecisive candle on the daily chart, but a strong bullish candle on the weekly chart. Some technical indicators are reaching the overbought zone on the lower timeframe charts, and Nifty50 will need a strong close on Monday to avoid a sideways phase.
07:05 AM

FPIs buy Rs 857 cr worth of stocks

Net-net, foreign portfolio investors (FPIs) were buyers of domestic stocks to the tune of Rs 857.29 crore, data available with NSE suggested. DIIs were net sellers to the tune of Rs 331.96 crore, data suggests.
07:04 AM

Sensex, Nifty on Friday

Equity indices advanced for the third straight day to close near four-month highs on Friday, propelled by Reliance Industries which announced another stake sale in its digital unit. After touching a high of 36,110.21, the 30-share BSE Sensex settled 177.72 points, or 0.50 per cent, higher at 36,021.42. The NSE Nifty rose 55.65 points, or 0.53 per cent, to end at 10,607.35.
07:04 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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