Sensex up 150 points; gains in IT, oil and gas stocks

Benchmark equity indices recovered after opening lower today, led by gains in shares of information technology, and oil & gas companies. Investors exercised caution ahead of the Federal Reserve's two-day monetary policy meeting, starting later today.

At 12:05 PM, the BSE Sensex was trading at 33,073, up 150 points, while the Nifty50 index was trading at 10,147, up 52 points.

The BSE Midcap and the BSE Smallcap indices up 0.46% and 0.22%, respectively.

Nifty IT was up 1%, snapping a three-session losing streak, led by gains in shares of Tech Mahindra and Infosys. The index was the top gainer among all the sectoral indices on NSE.

Shares of oil & gas companies rose, led by gains in shares of Hindustan Petroleum Corp, Bharat Petroleum Corp, and Reliance Infrastructure. Nifty Energy was up 0.5%.

Shares of Uttam Galva Steels were 1% higher on reports the company has proposed to settle a Rs5,650cr loan by paying 51% of the outstanding amount upfront to the public sector banks.

Videocon Industries stock gained 0.50% after the company exited insurance business by selling its holdings in Videocon General Insurance Company Ltd.

Shares of Binani Cement's hit 5% upper circuit on the BSE. UltraTech agreed to issue a letter of comfort for its increased bid to the cement maker’s lenders for termination of insolvency proceedings at the Kolkata bench of the NCLT.

Volatility index India VIX slipped 1.95% to 15.5100.

Infratel (+4.8%), Tata Steel (+4%), Tech Mahindra (+2.3%) and Eicher (+2.1%) were the top gainers on Nifty50.

M&M (-1.2%), Cipla (-1%), NTPC (-1%), IOC (-1%), M&M (-1.3%) and Aurobindo (-0.54%) were the top losers in today’s trade.

Out of 2,019 stocks traded on the NSE, 832 advanced, 806 declined and 381 remained unchanged today.

A total of five stocks registered a fresh 52-week high in trade today, while 106 stocks touched a new 52-week low on the NSE.

 

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Andhra Bank up 8%, recovers from Monday's fall

Shares of Andhra Bank shrugged off the recent weakness and surged nearly 10% to a high of Rs39.50 on bargain buying amid relief over the bank's limited exposure to Sterling group companies.

The stock also tracked gains in most state-owned banking shares after India's headline inflation dropped to a four-month low in February, easing concerns of a rate hike in the near future.

On Monday, the stock had closed nearly 7% lower on reports that the Enforcement Directorate filed a prosecution complaint against former director Anup Prakash Garg in a Rs5,000cr bank fraud case involving Sterling Biotech Ltd. However, late on Monday, the bank clarified it has fund- and non-fund based exposure of only Rs1,150cr in this regard and the exposure to the group companies had already been classified as non-performing assets since March 2015.

Andhra Bank is currently trading at Rs38.55 up by Rs2.7 or 7.53% from its previous closing of Rs35.85 on the BSE.

The scrip opened at Rs35.50 and has touched a high and low of Rs39.55 and Rs35 respectively. So far 2,10,28,151(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs3,128.99cr.

 

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Indian oil refiners up 1-5% as global crude price declines

Shares of state-owned oil refiners rose 1-5% as prices of crude oil in the global markets fell on Monday. The prices fell after latest data showed that crude oil output in the US is expected to rise this year.

Indian oil refiners are major importers of crude oil and a fall in global crude oil prices supports sentiment for the sector.

Hindustan Petroleum Corporation Ltd (HPCL) is currently trading at Rs383.45, up Rs17, or 4.64%, from its previous close of Rs366.45 on the BSE. The scrip opened at Rs366.10 and has touched a high and low of Rs385.35 and Rs366.10, respectively. So far, total 38,40,729 HPCL shares have traded hands on both indexes. The current market cap of the company is Rs55,840.48cr.

Bharat Petroleum Corporation Ltd (BPCL) is currently trading at Rs462.60, up Rs15.75, or 3.52%, from its previous close of Rs446.85 on the BSE.

The scrip opened at Rs446 and has touched a high and low of Rs463.40 and Rs445.10, respectively. So far, total 21,89,298 BPCL shares have been exchanged on the BSE and the NSE. The current market cap of the company is Rs96,933.06cr.

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Sensex, Nifty down for 3rd straight session; Bank Nifty down 205 pts

After swinging between marginal gains and losses through the session, domestic share indices today ended the holiday-shortened week with modest losses, weighed down by persistent weakness across global markets.

The Nifty50 ended 34.50 points, or 0.3%, lower at 10458.35 points, while the Sensex closed down 99.36 points, or 0.4%, at 34046.94 points.

Indian equity markets will be closed on Friday on account of Holi.

Most global markets have turned weak following recent comments by US Federal Reserve Chair Powell, which indicated a faster pace of interest rate hikes in the US due to strong economic growth.

While losses in domestic indices were limited by higher than expected GDP growth of 7.2% for the December quarter, the indices ended lower for the third consecutive session. For the week, both the Nifty 50 and the Sensex slipped 0.3% each.

Media, metal and banking stocks were the weakest today, while all sectoral indices ended 0.1-1.9% lower. The Nifty PSU Bank index, down 1.9%, was the worst hit sectoral index.

Shares of Mahindra & Mahindra and Eicher Motors ended with near 1% gains after these companies reported double-digit on-year growth in sales volume in February.

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Nifty hovers around 10,500 mark; IDBI Bank, Venky's stock up

Benchmark equity indices reversed early gains and slipped into negative zone in morning trade tracking mixed cues from other Asian stocks.

At 2:25 PM, the BSE Sensex was trading at 34,147, down 36 points, while the Nifty50 was ruling at 10,490, down mere three points.

In the broader market, the BSE Midcap up 0.04% and and the BSE Smallcap Index was higher by 0.32%.

India’s largest passenger vehicles manufacturer, Maruti Suzuki India (MSIL), reported 15% volume growth in February 2018. It sold 1,49,824 vehicles in February 2018 against 1,30,280 vehicles in February 2017. Domestic sales were up 14% yoy, while exports were up 25% yoy. Stocks is trading marginally down on the NSE.

Ashoka Buildcon Ltd’s subsidiary Ashoka Concessions Ltd has been declared as the lowest bidder (L-1) for six laning of Khiaratunda to Barwa Adda section of NH-2 in Jharkhand. Stock soared 4%.

Ashok Leyland stock rose after it reported February sales numbers. Medium and heavy commercial sales grew 21% to 13,726 units and light commercial vehicle sales rose 63% to 4,455 units.

The volatility index, India VIX gained 1.17% at 13.9675.

BPCL (+2.8%), Aurobindo (+1.9%), Eicher (+1.3%), IndusInd Bank (+1.3%) and HCL Tech (+1.2%) were the top gainers on Nifty50.

Lupin (-1.5%), ICICI Bank (-1.5%), SBI (-1.4%), Lupin (-1.1%), Hindalco (-1.1%) and UPL (-0.80%) were the top losers in today’s trade.

A total of 21 stocks registered a fresh 52-week high in trade today, while 23 stocks touched a new 52-week low on the NSE.

 

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Markets witness volatile trading session ahead of Union Budget

               Markets witnessed extreme volatility in today’s trade. Bank Nifty was the clear outperformer witnessing a smart recovery in the last hour of trade. Kotak Mahindra Bank and HDFC Bank were the major contributors ending 1.93% and 0.43% higher, respectively. MidCap stocks continued to witness selling pressure ending lower for the 5th consecutive session.

Nifty Index February futures witnessed a reduction in open interest to the tune of ~1.58 lakh shares, while Nifty Bank futures witnessed a fresh surge in open interest to the tune of 49,000 shares mainly long positions.

Tracking the Nifty options, heavy option writing was witnessed in out of the money strikes with Nifty 11400CE and 11500CE adding ~10 lakh shares and ~11 lakh shares, respectively, while 10700PE and 10500PE also witnessed a surge in open interest to the tune of ~ 4.3 lakh shares and 4.21 lakh shares, respectively consisting mainly short positions as traders looked to benefit from a drop in implied volatility after the announcement of Union Budget.

  India VIX ended the session at 15.93%, down 2.98%

Nifty:	-21 points @ 11027
Bank Nifty:	+110 points @ 27379
Top 2 F&O Gainer:	KAVERI SEED, TV18 BROADCAST
Top 2 F&O Loser:	PC JEWELLER, KAJARIA CERAMICS
Most Active Index Option Contract:
Call Option:	11500CE, O.I: +~11  lakh shares
Put Option:	10550PE, O.I: + ~4.39 lakh shares
Nifty Max O.I Strikes:	11500CE, 10500PE
Bank Nifty Max O.I Strikes:	28000CE, 26500PE (1TH Feb 2018 Expiry)

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Nifty50 hits record high; Infosys, HDFC stock gain

The Nifty50 index rose to its lifetime high led by gains in shares of information technology and pharmaceutical companies.

At 1:37 PM, the BSE Sensex was trading at 34,534, up 102 points, while the broader Nifty50 was ruling at 10,658, up 29 points.

Shares of TCS gained over 2% ahead of the announcement of Oct-Dec earnings. The Nifty IT index was up 1%.

Shares of Sun Pharmaceutical Industries, which gained after Netherlands' drug regulator cleared the company's Halol unit.

Shares of Cochin Shipyard extended early session gains and rose nearly 7% after the government said the company will undertake ship repairing operations at the dry dock facility of the Mumbai Port Trust on lease basis.

The BSE Mid-cap and BSE Small-cap indices were up 0.31% and 0.76%, respectively.

Volatility index India VIX slipped 0.30%.

Infosys (+2.3%), Indiabulls HF (+2.2%), Tech Mahindra (+2%), Bharti Airtel (+1.6%) and Kotak Mahindra Bank (+1.5%) were the top gainers on Nifty50.

Infratel (-1.5%), Cipla (-1.2%), Bajaj Fin (-1.2%), Ambuja (-0.98%) and ICICI Bank (-0.95%) were the top losers in today’s trade.

Out of 2,008 stocks traded on the NSE, 1,046 advanced, 646 declined and 316 remained unchanged today.

A total of 129 stocks registered a fresh 52-week high in trade today, while eight stocks touched a new 52-week low on the NSE.

 

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Nifty holds 10,600 mark ahead of TCS Q3 numbers

The Sensex and Nifty were trading on a flat note, while the Nifty50 edged down and ahead of TCS numbers.

At 12:12 PM, the BSE Sensex was trading at 34,467, up 36 points, while the broader Nifty50 was ruling at 10,636, up 3 points.

Shares of Tata Consultancy Services traded 0.84% lower ahead of the company's Oct-Dec earnings.

India Nippon Electricals surged 10% on BSE after the company said that its board will consider stock split and interim dividend.

Som Distilleries & Breweries hit a 52-week high after Porinju Veliyath along with Equity Intelligence India bought more than 2% stake in the company through the open market.

The BSE Mid-cap and BSE Small-cap indices were up 0.43% and 0.80%, respectively.

Volatility index India VIX gained 0.83%.

Indiabulls HF (+2.4%), Sun Pharma (+1.8%), Kotak Mahindra Bank (+1.5%), Bharti Airtel (+1.3%) and Tech Mahindra (+1 %) were the top gainers on Nifty50.

Axis Bank (-1.4%), Wipro (-1.4%), Cipla (-1.3%), Coal India (-1.2%) and Ambuja (-1%) were the top losers in today’s trade.

Out of 2,006 stocks traded on the NSE, 1,048 advanced, 613 declined and 345 remained unchanged today.

A total of 107 stocks registered a fresh 52-week high in trade today, while five stocks touched a new 52-week low on the NSE.

 

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Banking stocks drags the indices lower

Markets witnessed marginal selling pressure as banking stocks dragged the indices lower. Nifty IT index shimmered with TCS, Wipro and HCL Tech gaining 3.5%, 3% and 2.5% each.

PSU Banks were among the laggards with SBI and BOB losing ~1% each.

Benchmark indices snapped its 6-day winning streak as market breadth ended in favour of declines with Advance Decline ratio closing at 2:3x.

Nifty Index futures and added fresh open interest to the tune of ~12.5 lakh. Nifty Bank futures saw an unwinding in open interest to the tune of ~88k shares, marginally hinting an unwinding of long positions.

Tracking the Nifty options, 10500PE has ~76 lakh shares in total open interest, consisting of mainly short position, indicating a formation of a fresh floor price for the index in January F&O expiry.

Across the board, selling was witnessed in out of money call option strikes with 10700CE adding the most open interest build-up.

India Vix ended the day at 14.03 up 1.3%.

Nifty:	-5  points @ 10632
Bank Nifty:	-87 points @ 25617
Top 2 F&O Gainer:	JINDALSTEEL & ICIL
Top 2 F&O Loser:	PAGE & MUTHOOTFIN
Most Active Index Option Contract:
Call Option:	10700CE, O.I: + ~7  lakh shares
Put Option:	10500PE, O.I: + ~ 6.7 lakh shares
Nifty Max O.I Strikes:	11000CE, 10500PE
Bank Nifty Max O.I Strikes:	26000CE, 25000PE (11TH Jan 2018 Expiry)

 

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Direct tax collections up 18.2% in April-Dec

The provisional figures of Direct Tax collections up to December 2017 show that net collections are at Rs6.56 lakh cr, which is 18.2% higher than the net collections for the corresponding period of last year.

The net Direct Tax collections represent 67% of the total Budget Estimates of Direct Taxes for FY2017-18 (Rs9.8 lakh cr). Gross collections (before adjusting for refunds) have increased by 12.6% to Rs7.68 lakh cr during April to December, 2017. Refunds amounting to Rs1.12 lakh cr have been issued during April to December, 2017.

An amount of Rs3.18 lakh cr has been received as Advance Tax up to December, 2017 reflecting a growth of 12.7% over the Advance Tax payments of the corresponding period of last year. The growth in Corporate Income Tax (CIT) Advance Tax is 10.9% and that in Personal Income Tax (PIT) Advance Tax is 21.6%.  

 

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Sensex, Nifty trade higher; Jaiprakash Associates, RCom slip

After a positive start, key benchmark indices traded with gains in the morning trade. Today's gains were led by realty, metal, PSU Bank and FMCG.

At 12:05 PM, the BSE Sensex was trading at 34,418, up 65 points, while the broader Nifty50 was ruling at 10,628, up 4 points.

Among BSE sectoral indices, realty index gained the most by 1.67%, followed by PSU Bank 0.56%, consumer durables 0.53% and metal 0.48%. On the other hand, IT Index was down 0.2%, Teck 0.15%, healthcare 0.08% and capital goods 0.01%.

Auto stocks nudged higher. Ashok Leyland (+2.1%), Escorts (+1.8%), TVS Motor Company (+1.47%), Mahindra & Mahindra (+0.26%), Maruti Suzuki India (+0.06%) and Hero MotoCorp (+ 0.03%) edged higher.

Coal India soared over 6% after its board approved a hike in the prices of non-coking coal for power and non-power sectors with immediate effect.

Tata Motors was up 1.8% after the company's subsidiary JLR, reported a 0.6% growth in retail sales to 55,697 vehicles in December 2017 over December 2016.

Sutlej Textiles & Industries surged 5% after the company said its board approved the setting up of a green fibre project to manufacture polyester staple fibre by recycling of pet bottles at Samba, Jammu and Kashmir.

Aarti Drugs jumped 5% after the company fixed January 19, 2018 as record date for buyback of upto 2.75 lakh shares, representing up to 1.15% stake, at Rs875 per share.

The BSE Mid-cap and BSE Small-cap indices were up 0.37% and 0.11%, respectively.

Volatility index India VIX gained 1.49%.

Coal India (+6.1%), Tata Motors (+1.9%), Reliance Ind (+1.4%), ITC (+1.3%) and Yes Bank (+1.2%) were the top gainers on Nifty50.

Zee (-1.6%), Eicher (-1.5%), HCL Tech (-1.4%), Hindalco (-1.3%) and HPCL (-1.2%) were the top losers in today’s trade.

Out of 2,005 stocks traded on the NSE, 866 advanced, 786 declined and 353 remained unchanged today.

A total of 129 stocks registered a fresh 52-week high in trade today, while four stocks touched a new 52-week low on the NSE.

 

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Sensex rallies over 150 points; Realty Metal Index gain

Indian equity indices jump-started today's session and were close to their lifetime highs, with shares of state-owned banks and metal companies leading the gains seen across most sectors, supported by an upbeat trend in most global markets.

At 11:10 AM, the BSE Sensex was trading at 34,134, up 165 points, while the broader Nifty50 was ruling at 10,546, up 42 points.

The Nifty PSU Bank Index extended gains and rose over 1% in early trade as the Lok Sabha, late Thursday, passed the third batch of Supplementary Demands for Grants, which will enable the government to issue bonds worth Rs800bn to recapitalize the lenders in the current financial year.

IOB stock gained 7% as the bank decided to utilize share premium balance to write off the accumulated losses.

Bharat Forge shares gained 2% after strong Class 8 truck orders in the US. North America Class 8 truck orders shot up 77% yoy to 37,200 units in December against 21,061 units.

The Nifty Metal Index inched higher, led by over 1% gain in shares of Hindalco Industries and Vedanta, tracking the overnight rise in global base metal prices.

Shares of Varun Beverages gained 9% today after the company entered into a partnership with PepsiCo India to sell the latter's Tropicana juices, Gatorade and Quaker dairy products in north and east India.

Barring the Nifty IT Index, which was down 0.3%, all other sectoral and thematic indices were in the green early today. Technology stocks were subdued due to persistent strength in the rupee against the dollar.

The BSE Mid-cap and BSE Small-cap indices were up 0.63% and 0.87%, respectively.

Volatility index India VIX slipped 2.29%.

Yes Bank (+2.7), Adani Ports (+2.2%), Vedanta (+1.7%), Tata Steel (+1.6%) and Eicher (+1.4%) were the top gainers on Nifty50.

HPCL (-0.78%), HCL Tech (+0.57%), IOC (-0.43%), ONGC (-0.35%) and GAIL (-0.35%) were the top losers in today’s trade.

Out of 1,993 stocks traded on the NSE, 1,162 advanced, 432 declined and 399 remained unchanged today.

A total of 113 stocks registered a fresh 52-week high in trade today, while one stocks touched a new 52-week low on the NSE.

 

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