Bull Market: Running on Hope & Prayer?
Intoxicated by a massive rally in March-April, perhaps in anticipation of the Modi government coming back to power, stock market investors have turned sanguine. They believe that all is well with the bull market that began in early-March 2014, when stock prices started anticipating a victory for the Bharatiya Janata Party (BJP) led by, supposedly, pro-business prime minister (PM) Narendra...
Premium Content
Monthly Digital Access

Subscribe

Already A Subscriber?
Login
Yearly Digital Access

Subscribe

Moneylife Magazine Subscriber or MAS member?
Login

Yearly Subscriber Login

Enter the mail id that you want to use & click on Go. We will send you a link to your email for verficiation
Nifty, Sensex May Move Within the Last Two Week’s Range – Weekly closing report

We had mentioned in last week’s closing report that Nifty, Sensex were continuing to head higher. The major indices of the Indian stock markets were range-bound during the week and closed on Friday with minor losses over last Friday’s close. The trends of the major indices in the course of the week’s trading are given in the table below:

 

 
The major indices of the Indian stock markets suffered a correction on Monday. On the NSE, there were 445 advances, 1,335 declines and 330 unchanged. The benchmark Sensex opened nearly 250 points lower owing to a steep rise in the crude oil prices. The Brent crude rose above the $73 a barrel mark as US threatened to impose sanctions against any country importing oil from Iran. At close, the Sensex was down 495.10 points at 38,645.18, while Nifty was down 158.30 points at 11,594.50. About 747 shares have advanced, 1751 shares declined, and 166 shares are unchanged. Indiabulls Housing, Yes Bank, BPCL, IndusInd Bank and IOC were top losers on the Nifty, while gainers were Bharti Airtel, Wipro, TCS, Tech Mahindra and Infosys. Among the sectors except IT (information technology) all other indices ended in red led by energy, bank, auto, metal, pharma, infra and FMCG (fast moving consumer goods). 
 
Gruh Finance is going to consider fund raising and recommendation of dividend on April 30 with audited financial results of the company for the quarter and year ended March 31, 2019. FIIs (foreign institutional investors) on Thursday bought stocks worth Rs1,038.46 crore while the DIIs (domestic institutional investors) off-loaded scrips worth Rs337.59 crore.
 
The RBI (Reserve Bank of India) could soon start discussions to break away from the convention of reducing key policy rate by 25 basis points or multiples thereof shortly with stakeholders like lenders, domain experts and within the Central Bank. "There is a need to consider interest rate adjustments, not necessarily in the conventional way of 25 bps or multiples thereof. This idea needs further debate and discussion", earlier this month RBI Governor Shaktikanta Das had told the Monetary Policy Panel.
 
The major indices of the Indian stock markets closed on Tuesday with losses. On the NSE, there were 744 advances, 998 declines and 355 unchanged. The key Indian equity indices opened on a positive note on Tuesday with the BSE Sensex trading 100 points higher than its previous close. Buying in consumer durables, metal, energy and banking stocks supported the gains. Sensex and Nifty erased gains in the afternoon trade on Tuesday, due to a sell-off in bluechip financial stocks. The Sensex closed 80 points lower at 38,564.88, while Nifty ended the session below the 11,600-mark. 
 
The major indices of the Indian stock markets rallied on Wednesday. On the NSE, there were 947 advances, 783 declines and 367 unchanged. The 30-scrip Sensitive Index (Sensex) on Wednesday opened on a positive note during the morning session of the trade. The last hour surge helped the benchmark indices to close the Wednesday session at day's high with Sensex finished above 39,000 level. The Sensex was up 489.80 points at 39,054.68, while Nifty was up 150.20 points at 11,726.20. About 1,232 shares have advanced, 1,237 shares declined, and 157 shares are unchanged.  On the sectoral front, except auto, all other sectoral indices are ended in green led by IT (information technology), energy, bank, metal, pharma, infra and FMCG (fast moving consumer goods).
 
Despite muted trend in global markets, the key Indian equity market indices on Thursday opened higher ahead of F&O expiry. The indices saw major selling pressure in late trade and reversed more than half of previous day's gains. The BSE Sensex fell 323.82 points to 38,730.86 and the Nifty50 dropped 84.40 points to 11,641.80 amid rising crude oil prices. Banking & financials pulled the market lower. Bharti Infratel (down 10.22%), Tata Steel (2.76%), Vedanta (2.49%), Indiabulls Housing Finance (2.11%) and Hindalco (2.07%) were top losers. UltraTechCement and Grasim Industries rallied 5% each. BPCL, Dr Reddy's Labs and UPL were other gainers. On the NSE, there were 777 advances, 963 declines and 356 unchanged. As many as 21 stocks advanced in the Nifty 50 index while 29 stocks declined. 
 
Country's largest passenger vehicle maker Maruti Suzuki India has reported a 5% year-on-year (YoY) decline in March quarter profit, dented by weak operating performance and muted sales volume. Net profit during the quarter declined to Rs1,795.6 crore, from Rs1,882.1 crore in same period last year. "This quarter was marked by adverse foreign exchange rates and commodity prices, higher depreciation and higher sales promotion expenses partially offset by cost reduction efforts," the company said. Standalone revenue from operations grew by 1% year-on-year to Rs21,459.4 crore in Q4 with sales volume degrowth of 0.7% YoY. 
 
Steel giant Tata Steel reported a whopping 84% decline in its consolidated net profit, to Rs2,295 crore, during the fourth quarter of the financial year 2018-19 as compared to Rs14,688 crore in the corresponding period of the previous fiscal. Its consolidated revenue for the quarter under review was at Rs42,424 crore, up by 26% from Rs33,705 in the year-end ago period. During the quarter, its consolidated steel production and deliveries grew year-on-year by 27% and 29% respectively while India production and deliveries increased year-on year by 46% and 55% respectively. Tata Steel shares closed at Rs547.45, up 7.19% on the NSE.
 
Sensex opened over 100 points higher on Friday over strong inflow of foreign funds and slight ease in the international oil prices. The Brent, benchmark oil price, which crossed the $75 a barrel mark on Thursday for the first time in 2019 was trading at $74.14 a barrel. Except for the auto sector stocks, all other sectoral stocks on the NSE witnessed healthy buying. On Thursday, Foreign Institutional Investors (FIIs) bought stocks worth Rs3,785.73 crore while the Domestic Institutional Investors (DIIs) sold stocks worth Rs4,069.98 crore. 
 
Late buying helped benchmark indices to close the first day of May series near day's high level with Nifty finished above 11,750 mark. At close, the Sensex was up 336.47 points at 39067.33, while Nifty was up 112.90 points at 11754.70. About 1,085 shares advanced, 1,410 shares declined, and 153 shares are unchanged. Tata Steel, BPCL, GAIL, ICICI Bank and JSW Steel were the top gainers on the Nifty, while losers include Tata Motors, Bajaj Auto, Grasim Industries, Dr Reddy’s Labs and Bharti Airtel. Among the sectors, except auto all other sectors ended in green led by metal, bank, energy, IT (information technology), pharma and FMCG (fast moving consumer goods). 
 
Mahindra Lifespace JV is to invest Rs1,000 crore in Chennai project.  Mahindra Industrial Park Chennai (MIPCL), an indirect subsidiary of the company and a joint venture between Mahindra World City Developers and Sumitomo Corporation of Japan, announced the inauguration of ORIGINS, Industrial Cluster on the NH16 corridor near Ponneri, Chennai. Mahindra & Mahindra shares closed at Rs658.40, down 1.01% on the NSE.
 
Atul’s Q4 results have been announced. Net profit was up 8.6% at Rs109 crore, revenue up 15.5% at Rs1,000.8 crore. EBITDA (Earnings before interest, tax, depreciation and amortisation) was up 32.6% at Rs192.8 crore and margin at 19.3%, YoY (year-on-year). Atul shares closed at Rs3,473.80, up 0.68% on the NSE.

User

Nifty, Sensex Sideways and Volatile – Thursday closing report

We had mentioned in Wednesday’s closing report that Nifty, Sensex might head higher if today’s gains hold. The major indices of the Indian stock markets suffered a correction on Thursday and closed with losses over Wednesday’s close. On the NSE, there were 777 advances, 963 declines and 356 unchanged. The trends of the major indices in the course of Thursday’s trading are given in the table below: 

 

 

Despite muted trend in global markets, the key Indian equity market indices on Thursday opened higher ahead of F&O expiry. As many as 21 stocks advanced in the Nifty 50 index while 29 stocks declined. In BSE Sensex 16 stocks including Tata Motors, ITC were trading in red while 14 stocks including HDFC, NTPC were trading in green at 9.20 a.m. On Thursday, Asian indices were mostly negative though Japan's Nikkei 225 was quoting in green. 

 
Benchmark indices saw major selling pressure in late trade and reversed more than half of previous day's gains. The BSE Sensex fell 323.82 points to 38,730.86 and the Nifty50 dropped 84.40 points to 11,641.80 amid rising crude oil prices. Banking & financials pulled the market lower. Bharti Infratel (down 10.22%), Tata Steel (2.76%), Vedanta (2.49%), Indiabulls Housing Finance (2.11%) and Hindalco (2.07%) were top losers. UltraTechCement and Grasim Industries rallied 5% each. BPCL, Dr Reddy's Labs and UPL were other gainers. 
 
Indiabulls Ventures has announced its Q4 Earnings for FY19. Company's net profit nearly doubled to Rs109.8 crore in March quarter, against Rs54.9 crore in same period last year. Revenue from operations jumped 55.4% to Rs600 crore during the quarter YoY. Indiabulls Ventures shares closed at Rs319.55, up 4.99% on the BSE.
 
Telecom regulator TRAI has directed Dish TV India to comply with the provisions of the new framework for broadcasting and cable TV services, acting on consumer complaints pertaining to the operators' specific offering and grievance redressal helpline. TRAI, which has promised strict action against those cable TV and direct-to-home (DTH) players who are found violating its new tariff order and regulatory regime, had earlier this week also pulled up Bharti Telemedia on similar grounds. As per complaints, the DTH operator "is forcefully offering a bouquet of free-to-air channels with no choice to subscribers and without their consent", the Telecom Regulatory Authority of India (TRAI), which is also the broadcast regulator, said in a directive on its website. Dish India TV shares closed at Rs36.20, down 2.03% on the BSE.
 
Country's largest passenger vehicle maker Maruti Suzuki India has reported a 5% year-on-year (YoY) decline in March quarter profit, dented by weak operating performance and muted sales volume. Net profit during the quarter declined to Rs1,795.6 crore, from Rs1,882.1 crore in same period last year. "This quarter was marked by adverse foreign exchange rates and commodity prices, higher depreciation and higher sales promotion expenses partially offset by cost reduction efforts," the company said. Standalone revenue from operations grew by 1% year-on-year to Rs21,459.4 crore in Q4 with sales volume degrowth of 0.7% YoY. Maruti Suzuki shares closed at Rs6,902.95, down 1.73% on the BSE.
 
Jaypee Infratech said the revised resolution plans have been received from NBCC (India) and Suraksha Realty led consortium. "Resolution plans will be placed for discussion amongst comittee of creditors members on resolution plans received from Resolution Applicants in the meetings to be held on April 26 and April 30, 2019 respectively," it added. Jaypee Infratech shares closed at Rs2.56, down 4.83% on the BSE.
 
Zydus Cadila has received the final approval from the USFDA to market Leflunomide Tablets USP (US RLD — Arava Tablets), 10 mg and 20 mg, Cadila Healthcare said in its BSE filing. It will be manufactured at the group’s formulations manufacturing facility at Baddi. This medication is used to treat rheumatoid arthritis, a condition affecting multiple small and large joints of the body. Zydus Wellness shares closed at Rs1,294.50, down 0.05% on the BSE.
 
The top gainers and top losers of the major indices are given in the table below:
 
 
The closing values of the major Asian indices are given in the table below:
 
 

User

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

online financial advisory
Pathbreakers
Pathbreakers 1 & Pathbreakers 2 contain deep insights, unknown facts and captivating events in the life of 51 top achievers, in their own words.
online financia advisory
The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Online Magazine
Fiercely independent and pro-consumer information on personal finance
financial magazines online
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
financial magazines in india
MAS: Complete Online Financial Advisory
(Includes Moneylife Online Magazine)