Sensex, Nifty Updates on February 19: Share market indices fell sharply on Friday, amid weak cues from global equities. Amid heavy selling in financial services, private banks and auto stocks, the S&P BSE Sensex ended 434 points lower at 50,889 and NSE Nifty 50 index fell by 137 points to 14,981. Bajaj Finserv, IndusInd Bank, RIL, Kotak Bank were among the top gainers today, while NTPC, PowerGrid, Asian Paints, ICICI Bank, Tata Motors were among the top losers. Sectorally, FMCG, media and PSU bank index were in buying demand, while IT, realty, private banking, auto, metal and pharma sectors witnessed selling. Yesterday, Sensex ended 379 points lower at 51,324 and Nifty fell by 89 points to 15,118. As the domestic market lacks any major upcoming economic event, the overall global consumer sentiment would play an important role in evaluating the short-term trend
Here's a look at the updates of the market action on BSE and NSE today
3. 43PM : Market outlook
S Ranganathan, Head of Research at LKP Securities said,"Profit Taking was evident throughout the day as we witnessed several Pivotals succumbing to selling pressure as traders feared rising covid cases in Maharashtra. The PSU bank index which rose 12% in the last two days shed 5% today"
3. 24PM: Tech View
Ashis Biswas, Head of Technical Research at CapitalVia Global Research said,"After a few days of the lackluster movement, the market witnessed a decisive breakdown below the Nifty 50 Index level of 15000 in today. The expected levels of the market are likely to be in the range of 14860 and 15250, and it's going to be crucial for the short-term market scenario to sustain above the 14860 Nifty 50 Index level. Therefore, we advise the short-term traders to use the rally to exit while buying any dip towards the support level around 14860-14840. The market breadth to deteriorate, indicating a likelihood of higher volatility in the market."
3. 16 PM: Global oil prices slide
Oil prices slid as much as 2% in early trade on Friday, adding to overnight declines, on worries that refineries shut by a big freeze in the US South will take some time to revive operations and dent crude demand. US West Texas Intermediate (WTI) crude futures fell $1.21, or 2%, to $59.31 a barrel at 0157 GMT, after declining 1% on Thursday. Brent crude futures dropped $1.07, or 1.7%, to $62.86 a barrel, after declining 0.6% on Thursday.
Global oil prices slide as investors gauge big chill impact on US refineries
3.04PM: Dewan Housing share hits upper circuit
Dewan Housing Finance Ltd (DHFL) share hit upper circuit of 5% in early trade today after Reserve Bank of India (RBI) cleared Piramal Capital and Housing Finance's resolution plan for acquiring the bankrupt mortgage lender. The stock rose 4.99% to Rs 18.95 on BSE. Market cap of the firm stood at Rs 594 crore. DHFL share has gained 32.98% in the last 6 days.
Dewan Housing share hits upper circuit after Piramal gets RBI nod for acquisition
2. 53 PM: RIL shares gain 2%
RIL shares were trading 1.9% higher at Rs 2104.95 after Reliance Jio added 4.79 lakh new customers. Reliance Industries is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages
2. 37 PM: Oil India share rises over 4%
Oil India shares were trading 4% higher on Friday, after the company led consortium with Engineers India Ltd (EIL) decided to bid for acquiring 61.65% stake of Bharat Petroleum Corporation Ltd (BPCL) in Numaligarh Refinery Ltd (NRL).
As per the press release, the bid is to be submitted through a formal process.
Oil India share rises 4% as firm eyes BPCL's stake in Numaligarh refinery
2. 21PM: Poly Medicure share price gains over 5%
Poly Medicure stock price touched an intraday high of Rs 684.8, rising 5.3% on BSE after the company closed QIP issue after raising Rs 400 crore at a price of Rs 524 per share.
The stock hit a new 52 week and all time high of Rs 684.8 today.
2. 10 PM: IDFC First Bank shares gain over 7%
IDFC First Bank shares touched an intraday high of Rs 62.4, rising 7.4% on BSE today, after the private sector lender said its board has approved raising up to Rs 3,000 crore through via securities.
The stock hit a new 52 week high of Rs 62.4 today and risen 15.13% returns in the last 3 days.
1. 49 PM: Vodafone Idea share price drops 4.49%
Vodafone Idea shares were trading 4.49% lower at Rs 11.06 on BSE, after the telecom major lost over 56.90 lakh mobile customers in December 2020. In another update, Vodafone Idea with negative net worth of Rs 43,474 crore has submitted deposit of Rs 475 crore.
1. 35 PM: Unichem Lab outlook
Yash Gupta Equity Research Associate, Angel Broking said," Unichem Laboratories Limited announce that the company has received ANDA approval for its Apremilast Tablets, 10 mg, 20 mg and 30 mg from the United States Food and Drug Administration (USFDA) to market a generic version of Amgen's Otezla (apremilast) Tablets, 10 mg, 20 mg, and 30 mg. Apremilast tablets are indicated for the treatment of adult patients with moderate to severe plaque psoriasis who are candidates for phototherapy or systemic therapy. This is very good approval for Unichem, we have a positive outlook for the company."
1. 22 PM: NMDC share price gains over 3%
NMDC shares were trading 3% higher on Friday's volatile session, after the state-owned company has resumed production of iron ore from Donimalai Mines in Karnataka.
The the public sector enterprise resumed production of iron ore in Donimalai, after it suspended mining in December 2018, due to a legal battle with the Karnataka government over the issue of imposition of premium on the sale price of the iron ore.
Stock of NMDC opened higher at Rs 122.90 against its previous close of Rs 119.95. The stock gained 3% to hit the day's high of Rs 123.55 on BSE. The stock also hit an intraday low of Rs 120.35 during early trade.
NMDC share rises 3% as firm resumes work at Donimalai mine
1. 14PM: Global markets
Overseas, Asian stocks are trading lower on Friday following overnight declines for the major indexes on Wall Street.
Japan's core consumer prices declined 0.6% in January as compared with a year earlier, according to data released Friday by the country's Statistics Bureau.
U.S. stocks slid on Thursday as investors were discouraged by a worse-than-expected jobless claims reading as well as a weak forecast from Walmart.
12. 54 PM: Tata Motors shares decline over 3%
Tata Motors share price traded as the top loser on NSE and touched an intraday low of Rs 313.4, falling 3.06% after the company-owned British luxury carmaker Jaguar Land Rover (JLR) plans to cut 2,000 jobs globally in the next financial year. The stock has fallen 3.68% in the the last 2 days.
Britain's largest car manufacturer anticipates a lay-off of around 2,000 people from its global salaried workforce. The auto major has around 40,000 employees worldwide, as per its 2019-20 annual report.
12. 33 PM: DLF share price rises over 1%
DLF stock gained over 1% to hit day's high of Rs 310.15 on BSE, after the real estate developer DLF on Thursday said its rental arm DLF Cyber City Developers Limited (DCCDL) has acquired 51.8 per cent stake from Hines in Fairleaf Real Estate Private Limited.
12. 23PM: Indian Oil share price rises over 1%
Indian Oil Corporation (IOC) share price gained over 1% to Rs 100.50 on BSE after the public sector enterprise signed a pact with Greenstat Norway for setting up a Centre of Excellence on Hydrogen on Thursday.
12. 16PM: Heranba Industries IPO
Keshav Lahoti-Associate Equity Analyst, Angel Broking said, "Heranba Industries has a robust past track record of performance. In the future, we expect the company to gain market share and improve margins. Company has priced its issue at 22.1x PE on a trailing basis, which is quite reasonable by looking at the future prospects of the Company. Its peers such as Rallis India, Sumitomo Chemicals and Bharat Rasayan are trading at 23.1x, 47.3x and 27.0x PE on a trailing basis respectively. Company return ratios are superior to peers (ROE is above 30%). Company has a strong financial position and has been generating positive cash flow. We expect a good listing for the Company. We are positive on the long term prospects of the Company, we recommend "SUBSCRIBE" to the Heranba Industries IPO for long term as well as for listing gains."
11. 56AM: Ambuja Cements share price falls over 2%
Ambuja Cements stock touched an intraday low of Rs 275.05, falling 2.76% on BSE after the cement maker reported 34.06% rise in its consolidated net profit at Rs 968.24 crore for December quarter 2020. The company's revenue increased to Rs 3,515.1 crore from Rs 3,135.9 crore.
The company's board members approved the renewal of master supply agreement between the firm and ACC for 3 years.
11. 46AM: Dish TV shares trade lower
Dish TV shares fell over 1% to trade at Rs 11.85 after the company announced that it has paid the settlement charges of Rs 8,20,782 to Sebi.
11. 31 AM: Market update
The S&P BSE Mid-Cap index was off 0.62%, while the S&P BSE Small-Cap index was down 0.13%. The market breadth, indicating the overall health of the market, was negative on the BSE, with 938 shares rising and 1047 shares falling and a total of 97 shares unchanged.
11. 23 AM: SBI Q3 outlook
LKP Securities said in its note,"We expect the bank to post a ROA/ROE of 0.5%/9.1% by FY22E led by healthy balance sheet growth along with higher PCR and stable asset quality. We rerate the stock with BUY and increased target price of Rs 473 (potential upside of 14%). We value the standalone bank with PBV of 1.3xFY22E Adj. BVPS of Rs 258 and value of subsidiaries per share of Rs 112."
11. 14 AM: Morning view on the market
Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said,"Markets globally have been consolidating and even slowly drifting down during this week. This trend is due to high valuations and the absence of any fresh positive triggers to take the market higher. This trend might linger for some more time before some trigger leads to a breakout. Meanwhile, investors can utilize the drift in the market to buy quality stocks with good earnings visibility. IT is one sector that looks promising. The broader market is witnessing frenzied activity, particularly in PSU stocks. The speculative activity in this segment has been on the rise following the privatization proposals in the Budget"
11.04 AM: Gold and silver outlook
Kshitij Purohit, Product Manager, Currency & Commodities, CapitalVia Global Research said,"LBMA Gold Spot trading below $1780 levels, Dollar index trading higher weighing the precious metal. Medium-term momentum has turned negative as the MACD index generated a crossover sell signal. Downside support is $1745 - $1720 levels, Resistance is at $1780 - $1810 levels. MCX Gold February trading with negative momentum below 46000, Higher dollar Index and Bond Yield weighing the domestic gold price. Downside support for the metal is 46200 - 45800. Resistance for the metal is 46800."
On Silver he added," Silver is trading BELOW 68000 levels Downside support is 67200 - 66400 levels, we know that inflation will play the role and precious metals will doing quite well. silver also must move based upon industrial demand Resistance is at 70700 - 71400 levels."
10. 50 AM: Ambuja Cements Q3 outlook
Keshav Lahoti-Associate Equity Analyst, Angel Broking said,"For Q4CY20, Ambuja Cements revenue increased by 4.6% YoY to Rs 7,453 cr. On the other hand, net profit registered a strong growth of 34% YoY to Rs 968 cr due to improvement in operating margin due to reduction in the cost. Sales volume increased due to strong rural and pent up demand. Overall, numbers were above our expectation in all the fronts. We expect cement demand to be robust in the upcoming quarters due to strong real estate demand coupled with improving infrastructure activity. From an investment point of view, we are bullish on the Ambuja Cements."
10. 40 AM: Nifty technical outlook
Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking) said," Since last three days market has been experiencing some pressure at higher levels and this is what we have been alluding to in our previous commentaries. In the morning session, Nifty made a move towards the mentioned resistance zone of 15245 -15315. Since the move was lacking strength, the selling started after testing the lower range of 15245, which eventually resulted in a decent intraday profit booking. Now, although market looks a bit tentative, it is nowhere close to the trend reversal or sell-off. Rather it needs to be construed as a minor profit booking only. For the coming session, 15050 -15000 are the levels to watch out for and the first sign of weakness would start only after convincingly breaching the 15000 mark. On the flipside, 15175- 15250 is to be seen as immediate hurdles."
10. 23 AM: Market morning outlook
On markets opening --Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said,"The markets have opened below 15100 which is a short term support for the Nifty. We need to evaluate today's closing price: for the markets to continue remaining bullish, we would need to close above 15100. A break of this level on a closing basis would alert the bearish triggers of the market and it can drop to 14800 and then 14600. It would be better to evaluate the index on Monday with new weekly support and resistance levels."
10. 10 AM: Nifty Outlook
Geojit Financial Services said in its note today,"We had highlighted the overall bearish mood yesterday, and would continue to play the downside move aiming 14740, though a vertical drop is less expected. The recent reaction low of 14977 is still a worthy support that may hold off initial bear attacks, or even attract some bargain buying, but the directional upsides may not be sustainable until 15168 is overcome.
9. 50 AM: Gold and silver outlook
Geojit Financial Services said in its note today," Corrective selloffs are likely as prices breached the support of $1770. However breaking $1760 is required to extend the mo-mentum for the day. An unexpected turn above $1800 is a signal of recovery. MCX GoldM Mar Res: 46900 Support: 45300."
On silver, the brokerage said,"Prices may correct further lower as long as the immediate resistance of $28 caps upside. However, a direct drop below $26 is a signal of immediate downside reversal. MCX Silver Feb: Res at Rs 70920. Sup: 66200."
9. 40 AM: Global markets
Asian markets are trading lower tracking overnight weakness in US markets. On the eco data front, Japan's CPI declined 0.6% in Jan while Australia's retail sales rose 0.6% in Jan
US markets closed lower led by tech names as an unexpected jump in jobless claims raised concerns regarding the economy. Also, US bond yields jumped on expectation of rise in inflation.
European markets closed on a lower as investors analysed earnings from Airbus, Barclays and Daimler. Oil and gas shares led the losers' pack.
9. 30 AM: Stocks to watch today on February 19
NMDC, DLF, IDFC First Bank, Airtel, Vodafone, Indian Oil, Ambuja Cements among others are the top stocks to watch out for in Friday's trading session
Stocks in news: NMDC, DLF, IDFC First Bank, Airtel, Vodafone, Indian Oil, Ambuja Cements
9. 21 AM: Opening session
Share market indices opened on a bearish note on Friday, amid positive global equities. Sensex traded 250 points lower at 51,118 and Nifty fell by 60 points to 15,055.Sectorally, FMCG, media and PSU bank index were in buying demand, while IT, realty, private banking, auto, metal and pharma sectors witnessed selling.
9. 10 AM: Nifty technical outlook
Relianc Research said in its note today," NSE-NIFTY ended in loss for third trading session in a row due to undergoing profit booking. Overall market breadth turned from negative to positive and major sectors remained mix. FII continued their prior daily buying trend. Major technical indicators were negatively poised, but remained above their threshold level. We believe the index will soon resume its northward journey and will test 15,500-15,800-16,000-levels. In case of decline, the index will find support at around 15,000-level initially and 14,850-level subsequently.
As for the day, support is placed at around 15,048 and then at 14,977 levels, while resistance is observed at 15,220 and then at 15,322 levels."
9.00 AM: FII action
Foreign portfolio investors (FPIs) bought shares worth Rs 903.07 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,217.34 crore in the Indian equity market on 18 February, provisional data showed.
8. 50 AM: Closing session on Thursday
Share market indices continued their declining trend for the third straight session on Thursday as investors booked profits in auto, financial and banking stocks. Tracking weak cues from Asian equities, Sensex ended 379 points lower at 51,324 and Nifty fell by 89 points to 15,118. Yesterday, BSE 30-share Sensex ended 400 points lower at 51,703 and NSE Nifty 50 fell by 104 points at 15,208.
Top losers today: Bajaj Finance, Kotak Mahindra Bank, Mahindra & Mahindra fall up to 2.5%