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Nifty forms Doji candle on daily chart. What does it signal for tomorrow's trade?
19 Jul, 2021 | 07:54:19 PM IST
Indian benchmark indices joined the global sell-off and plunged on Monday amid uncontrolled pandemic in parts of Asia and fear of faltering economic growth. This is despite regular assurances by the US Fed that it will keep pumping cheap money into the system until the economy is out of the woods. However, the market has been hard to convince, finding any opportunity to sell. Thus, volatility also spiked. At 02.20 pm, BSE flagship Sensex was down 626 points or 1.18 per cent to 52,513.57. NSE benchmark Nifty dropped 182 points or 1.15 per cent to 15,740.45.
1 New Update
Wall Street drops 1% as virus surge fans recovery fears
At 09:31 am, the Dow Jones Industrial Average fell 463.52 points, or 1.34%, to 34,224.33, the S&P 500 lost 50.24 points, or 1.16%, to 4,276.92 and the Nasdaq Composite lost 163.29 points, or 1.13%, to 14,263.95.
NAM India Q1 PAT up 16% to Rs 182 crore
HCL Tech Q1 results: Consolidated PAT rises by 8.5% to Rs 3,214 cr; co to pay Rs 6/share dividend
HCL Technologies reported an 8.5 per cent sequential rise in consolidated net profit to Rs. 3,214 crore for the quarter ended June, which was in line with analysts’ estimate.
The IT services major reported a 2.2 per cent on-quarter rise in consolidated revenues for the quarter to Rs. 20,068 crore, which was slightly below analysts’ expectations.
Rupee falls for second day, settles 31 paise lower at 74.88/USD
At the interbank foreign exchange market, the rupee opened on a negative note at 74.73 per dollar as against its previous close of 74.57. It hovered in the range of 74.71 to 74.92 during the day before ending at 74.88.
With this decline in the index, we may see further consolidation ahead. Meanwhile, we reiterate our view to continue with a stock-specific trading approach while keeping a check on leveraged positions.
- Ajit Mishra, Religare Broking
HP Adhesives files IPO papers with Sebi
Gainers outnumbered losers on BSE by thin margin
This is how the 30-pack Sensex moved in today's session. It touched a high of 52,821.17 and a low of 52,405.89 to finally settle at 52,553.40
CLOSING BELL: Sensex tanks 587 pts on global selloff; Nifty50 tad above 15,750; GR Infra, Clean Science rally up to 107%
- Financials and Infosys lead the market fall
- 24 of 30 Sensex stocks end the day in the red
- Index contributors: HDFC Bank, HDFC, RIL, Axis Bank, Kotak Bank
- Top Index gainers: NPTC (2.14%), Nestle (0.59%), DRL (0.27%)
- Top Index losers: HDFC Bank (3.18%), IndusInd Bank (2.78%), Axis Bank (2.11%)
- S&P BSE Healthcare biggest sectoral gainer, up 0.17%
- S&P BSE Finance biggest sectoral loser, down 1.80%
- Volume toppers: RIL, Infosys, HDFC, ICICI Bank, TCS
Regulators probing Adani group companies for non-compliance of rules
India's securities regulator and customs authorities are investigating some Adani Group companies for non-compliance of rules, India's junior finance minister told parliament on Monday. It was not immediately clear when the investigation was launched. The minister, Pankaj Chaudhary, did not name which companies were involved.
At the outset I don’t have any instructions in the matter. For calculation errors i can take instructions, if we’d be agreeing to that or not. Your Lordships are Aware of contours of matter. It may be hazardous for me to make statements without instructions on this. I may be given two days to get instructions on this response to telecom companies plea on rectification of errors in AGR dues calculation.
- Solicitor General Tushar Mehta on AGR case
Volatility gauge India Vix leaps by 7.11%
SC reserves order on AGR recalculation case
Gold, silver spot prices
Red ink over Tourism & Hospitality sector stocks
Price as on 03:00:04 PM 03:00 PM, Click on company names for their live prices.
Retail sales down 50% in June
Retail sales in India declined by 50% in June due to the continued restrictions in the wake of the second wave of the coronavirus pandemic, as compared to the same month in 2019 before the health crisis hit, according to the Retailers Association of India (RAI). The industry body said the highest decline was witnessed in the sports goods category at 66%, while foods and grocery had the least with a dip of just 7% as compared to June 2019.
Reliance Commercial Finance lenders approve debt-resolution plan with Authum
The lenders of the Reliance Commercial Finance (RCF) have approved the resolution plan for the company and have selected Authum Investment and Infrastructure Ltd as the successful bidder, Reliance Capital said on Monday. Authum is expected to take over RCF for about Rs 1,600 crore.
India's strong fundamentals, market size will continue to attract foreign investments: FM
India's strong fundamentals and market size will continue to attract market-seeking greenfield investments, Finance Minister Nirmala Sitharaman said in a written reply to Lok Sabha on Monday. Quoting the World Investment Report 2021, the Finance Minister said FDI inflows into India rose by 25.4 per cent to reach USD 64 billion in 2020, from USD 51 billion in 2019, becoming fifth largest recipient in the world in 2020, up from eighth position it held in the previous year.
Bleeding steel companies pull down market
Price as on 02:39:49 PM 02:39 PM, Click on company names for their live prices.
PSP Projects back in profit in Q1 vis-a-vis losses last year
PSP Projects Q1 net profit is Rs 24.9 crore against a loss of Rs 3.4 crore in the same quarter a year ago. Revenue is at Rs 317.4 crore against Rs 106.9 crore (YoY) while EBITDA is at Rs 39.4 crore against Rs 1.3 crore (YoY). EBITDA margin us at 12.4% against 1.2% (YoY).
HDFC Life Q1 PAT slumps 33% YoY as claims soar due to second wave
HDFC Life Insurance reported a 33% year-on-year fall in net profit for the quarter ended June to Rs. 302 crore as the company raised reserves for claims expected in second and third quarter. The life insurer said that its claims soared three-to-four times during the June quarter as against the peak claims volumes in the first wave of the COVID-19 pandemic. The second wave of the pandemic was devastating for India as deaths and daily cases both soared to record highs.
Fear gauge India VIX rises 10%
Indian Bank Q1 net profit triples YoY
Indian Bank Q1 net profit is at Rs 1,181.7 crore against Rs 369.3 crore (YoY). Other income at Rs 1,876.1 crore against Rs 1,326.8 crore (YoY). Gross NPA at 9.7 percent against 9.9 percent (QoQ). Net NPA at 3.5 percent against 3.4 percent (QoQ). NII grew 3.1 percent at Rs 3,994.2 crore against Rs 3,874.3 crore (YoY).
Voda Idea up nearly 4%. Prashant Jain of HDFC AMC and Mahesh Patil of Aditya Birla MF, who are among top five fund managers in the country by assets, have put in big bets on Vodafone Idea’s survival.
Price as on 02:03:23 PM 02:03 PM, Click on company names for their live prices.
Only 6 out of 30 share Sensex trade in green as indice tumbles over 570 points
Rupee tumbles 20 paise to 74.77 against US dollar in early trade
The Indian rupee depreciated 20 paise to 74.77 against the US dollar in opening trade on Monday as firm American currency and weak domestic equities weighed on investor sentiment. At the interbank foreign exchange, the rupee opened at 74.73 against the dollar, then fell further to 74.77, registering a fall of 20 paise over its previous close.
L&T construction arm bags orders in overseas, domestic market
Infrastructure company Larsen & Toubro (L&T) on Monday said its construction arm has received orders in the overseas and domestic market. The company did not provide the value of the contracts, but said the orders fall under the ''significant'' category, which ranges between Rs 1,000 crore and Rs 2,500 crore, according to the classification of contracts. L&T Construction has won a slew of orders in India and abroad for its various businesses, L&T said in a regulatory filing.
Mixed result for IT stocks: Big 4 trading in red; Happiest Minds, Zensar up
Price as on 01:29:38 PM 01:29 PM, Click on company names for their live prices.
Sensex over 550 pts down; S&P BSE Bankex nearly 2% down & BSE Finance 1.78% down
CreditAccess Grameen raises $25 mn ECB from Swedfund International
Microfinance company CreditAccess Grameen has raised $25 million in external commercial borrowing from Sweden’s development finance institution, Swedfund International AB. The first tranche of $15 million had already been disbursed. This is the first foreign currency ECB for India's largest NBFC-MFI by gross loan portfolio.
Tatva Chintan Pharma Chem IPO subscribed nearly 9 times so far on Day 2
The Rs 500 crore initial public offer of Tatva Chintan Pharma Chem continued to see investor interest on the second day of bidding on Monday. The issue was fully subscribed on Day 1 itself. As of 11.50 am, the issue received applications for 2,79,24,702 shares against on offer 32,61,882 shares, meaning a subscription of 8.56 times.
Top midcap NSE gainers at 12.30 PM
Central Bank of India will seek shareholders' approval in its ensuing annual general meeting (AGM) next month to set off accumulated loss of over Rs 18,724 crore from the share premium account of the bank. The stock is trading nearly 2% down.
Price as on 12:37:54 PM 12:37 PM, Click on company names for their live prices.
Bank of Maharashtra has closed its qualified institutional placement (QIP) in which it raised about Rs 404 crore by allotting over 17 crore shares to eligible investors.
Price as on 12:36:37 PM 12:36 PM, Click on company names for their live prices.
Godrej Consumer Product is trading flat to positive. The FMCG company is building diversity in operations, promoting inclusivity through affirmative stances on gender and LGBT+ rights and hiring from different backgrounds and skills, the company said.
Price as on 12:34:53 PM 12:34 PM, Click on company names for their live prices.
Nifty regains 15,800 level, still over 100 points down
L&T Finance Holdings trading 2.4% down despite reporting 20 per cent rise in net profit at Rs 178 crore for June quarter 2021-22, mainly driven by rural demand for farm equipment. The non-banking financial company had registered Rs 148 crore profit in the year-ago period.
Price as on 11:56:04 AM 11:56 AM, Click on company names for their live prices.
Bajaj Hindusthan Sugar up nearly 5%. : Punjab National Bank sold a 2 per cent stake in the company via open market transaction, reducing shareholding to 9.23 per cent from 11.23 per cent earlier.
Price as on 11:54:01 AM 11:54 AM, Click on company names for their live prices.
India's Buffett Indicator can hit 200%. What it means for stocks?
India's market capitalisation-to-GDP ratio is hovering above 100 per cent level, ringing alarms over expensive valuations. But do not get surprised if the same, called Buffett Indicator because the legendary investor uses it to judge pricey markets, one day touches 200 per cent for Dalal Street. As per the indicator, stocks are deemed expensive when the value climbs above 100 level. For India, the average 10-year m-cap-to-GDP ratio has stood at 79 per cent, as much of the economy is unlisted and nonformalised. But as soon as India's under-represented sectors and new economy sectors join the listed space, this ratio may rise.
PFRDA, government in talks to tweak law to cover retirement funds
The government and the Pension Fund Regulatory & Development Authority (PFRDA) are discussing amendments to the law to ensure the regulation of a large number of superannuation funds that currently escape the required scrutiny. Although there are no official estimates, around 400-500 are seen to be “unregulated” superannuation funds, with 50-60 being large players. There are at least three regulators for the pension business, with PFRDA handling the National Pension System (NPS), while the insurance regulator deals with annuities sold by life insurers. Mutual funds also sell pension schemes and are regulated by Sebi.
This is how the BSE Midcap 150 index fares at 11.30 am
Kirloskar Oil Engines is trading 3.4% up. The auto parts manufacturer will be investing another Rs 250 crore into its non-bank finance company (NBFC) Arka Fincap as it seeks to grow its operations, its promoters said.
Price as on 11:35:27 AM 11:35 AM, Click on company names for their live prices.
Tata Power has joined hands with Hindustan Petroleum Corporation Ltd (HPCL) to provide end-to-end electric vehicle (EV) charging stations at the latter's retail outlets at multiple cities and major highways across the country. Both the stocks are trading over 2% up
Price as on 11:34:03 AM 11:34 AM, Click on company names for their live prices.
Just Dial trading nearly 4% down. Reliance Retail Ventures said it will acquire 40.95 per cent stake in Just Dial for Rs 3,497 crore, bolstering its digital play in the rapidly growing online commerce market in India.
Price as on 11:17:46 AM 11:17 AM, Click on company names for their live prices.
Shree Cement trading flat to negative. The western Indian foray of Shree Cement had been delayed due to COVID-19 disruptions but the company expects to commence commercial production from September, officials said.
Price as on 11:16:15 AM 11:16 AM, Click on company names for their live prices.
Top losers in auto sector today
Price as on 11:15:06 AM 11:15 AM, Click on company names for their live prices.
Hiranandani, EVRE in pact to create India’s largest EV-charging enabled township
Realty major Hiranandani Group has entered into an agreement with electric vehicle charging and battery swapping solutions provider EVRE to convert its mega township, Hiranandani Estate and Properties, in Thane near Mumbai into an electric vehicle charging-enabled township, making it one of India’s first such large real estate project.
Plans afoot to raise Rs 70,000 crore from asset monetisation of power PSUs over 5 years
The government plans to mop up nearly Rs 70,000 crore through monetisation of assets of state-owned power companies including Power Grid, NTPC and REC in the next five years, and half the proceeds may go into strengthening state transmission and distribution infrastructure. Intra-state power transmission, sub-transmission and distribution networks are largely underinvested, leading to huge amounts of technical losses and power outages, a senior government official said.
Nifty likely to touch 16,000 this week, enjoys support at 15,750
Nifty could head towards the 16,000-level during this truncated week of trading after hitting record highs last week, said technical analysts. Analysts say 15,750 is the level where the index may find support. Nifty gained 1.5% last week and outperformed all regional peers barring China, Hong Kong and S Korea. SAIL, Jindal Steel, Lupin and Aurobindo Pharma could see another 8-10% upside in the near term, said analysts.
Shares of Dishman Carbogen Amcis jumped 8% in early trade, after veteran investor Mukul Agrawal upped his stake in the company, the latest shareholding pattern shows. According to the regulatory filing, Agarwal held 40,00,000 equity shares or 2.55 per cent stake in the company on June 30, 2021. He held 25,59,246 equity shares or 1.63 per cent stake in the March 2021 quarter. Big Bull Rakesh Jhunjhunwala and his wife Rekha are among key shareholders of the company.
Price as on 10:58:43 AM 10:58 AM, Click on company names for their live prices.
Glenmark Life’s Rs 1,600 cr issue may open next week
The Rs 1,600-crore initial public offering of Glenmark Life Sciences (GLS), a unit of Glenmark Pharmaceuticals, is likely to be launched later in July, reports ET quoting investment banking sources. The company filed an updated draft red herring prospectus (DRHP) last week. Glenmark wants the issue to hit the primary markets next week, said banking sources.
Rossari Biotech up 6%. The speciality chemicals manufacturer announced the acquisition of Tristar Intermediates at an enterprise value of Rs 120 crore. The board of the company has approved the acquisition.
Price as on 10:38:14 AM 10:38 AM, Click on company names for their live prices.
Buy or Sell: Stock ideas by experts for July 19, 2021
Broader market indices outperforming headline peers
Broader market indices were trading lower but outperformed their headline peers in morning trade. Nifty Smallcap was down 0.60 per cent, while Nifty Midcap declined 0.66 per cent. Broadest index on NSE, Nifty 500 was down 0.79 per cent. Rossari Biotech, CAMS, Welspun India, V-Guard, ICICI Securities and Tata Power were gainers from the space, while Apollo Tyres, L&T Financial Holdings, Dhani Services, Cyient, CDSL and Happiest Minds were under selling pressure.
GR Infra lists at 103.11% premium over issue price at Rs 1,700 on BSE, and 105% premium at 1,715.85 on NSE.
The IPO, which was sold between July 7 and 9, was subscribed a whopping 102.58 times. It received total bids for 83,33,04,538 shares against 81,23,594 shares on offer.
Clean Science lists at 98% premium over issue price at Rs 1784.40 on BSE and 95% premium at Rs 1,755 on NSE
The IPO, which was sold between July 7 and 9 -- alongside the issue of GR Infraprojects -- was subscribed 93.41 times. It received total bids for 1,14,92,30,160 shares against 1,23,02,672 shares on offer.
Reliance Industries trading flat to positive. The Mukesh Ambani-led company's plans to invest Rs 75,000 crore in solar, batteries, fuel cells and hydrogen could create valuation of $36 billion (Rs 2.6 lakh crore) for the new energy business, Wall Street brokerage Bernstein Research said in a report.
Price as on 09:47:00 AM 09:47 AM, Click on company names for their live prices.
Bajaj Auto trading 1.18% down. The two-wheeler manufacturer said it has commenced bookings for its electric scooter Chetak in Nagpur from July 16. With the aim of providing a seamless and convenient booking experience, customers can book the vehicle exclusively online on www.chetak.com for Rs 2,000, it said.
Price as on 09:42:53 AM 09:42 AM, Click on company names for their live prices.
Nifty Financial Services stocks deep in red
Price as on 09:41:30 AM 09:41 AM, Click on company names for their live prices.
