Share Market Highlights: Sensex ends at 52,154 for first time, Nifty at 15,314; banking stocks outperform

Sensex, Nifty Highlights on February 15: Share market indices ended at new record highs on Monday, tracking positive cues from global equities. Sensex gained 609 points higher to end at 52,154 and Nifty added 151 points to 15,314. Today, Sensex hit a record high of 52,235 and Nifty hit a lifetime high of 15,340. Traders said market indices have gained over 8% since January month on back of an optimistic union budget, better than expected corporate earnings, continued foreign fund flows and positive progress on the COVID-19 vaccinations. Last Friday, Sensex ended 12 points higher at 51,544 and Nifty fell 10 points to 15,163.

Here's a look at the updates of the market action on BSE and NSE today

3. 55 PM: Market outlook

Dr. Joseph Thomas, Head of Research, Emkay Wealth Management said,"The markets closed the day on a high note with the Sensex crossing the 52000 mark, with both Sensex and Nifty closing with a gain of more than 1%. What moved the markets was the Bank Nifty, which climbed by 3.65 % to 37425, a significant surge from the 31000-32000 levels where it was basing itself for a couple of weeks. Midcaps, small caps, realty and healthcare too participated in the rise today. Markets elsewhere , in the East  as well as early Europe, has been well supported by the fruition of large scale vaccination as also  expectations of larger economic stimulus in the US."

3. 49 PM: Closing session

Share market indices ended at new record highs on Monday, tracking positive cues from global equities. Sensex gained 609 points higher to end at 52,154 and Nifty added 151 points to 15,314.

3. 42 PM: Sensex outlook on hitting 52K mark

Jyoti Roy, DVP -Equity Strategist, Angel Broking said,"The Sensex has today hit new all time high levels of 52,000 driven by continued strong flows due to positive global cues. After record monthly inflows of over Rs. 60,000 in Nov and Dec 2020 flows slowed down somewhat in January to ~Rs. 19,500 crore. While we did see some profit booking in the second half of January the Union Budget 2020-21 turned the tide around for the market. So far we have already witnessed FII flows of over Rs. 20,000 crore in February which is helping drive the markets. We expect the flows to remain strong for now which should help propel the markets to new highs. However we expect the pace of the rally to moderate from here  on and some profit booking cannot be ruled out at higher levels."

3. 31PM: Tech View

Ashis Biswas, Head of Technical Research at CapitalVia Global research said,"Market witnessed a positive trend today after a few days of the lackluster movement. The expected levels of the market are likely to be in the range of 15250 and 15470, and it's going to be crucial for the short-term market scenario to sustain above the 15250 Nifty50 index level. The momentum indicators like RSI, MACD to support the upside move and indicating potential upside from the current market level."

3. 25 PM: Vodafone Idea shares decline 5%

Shares of debt-ridden Vodafone Idea Ltd (Vi) were trading 5% lower on Monday's session after the telecom major  reported narrowing of its consolidated loss to Rs 4,532.1 crore in the third quarter ended on December 31, 2020. The company had posted a loss of Rs 6,438.8 crore in the same quarter a year ago.

This was also the 10th quarterly loss reported, after the net loss of Rs 7,218 crore during the September quarter.

Following the updates, shares of  India's third-largest telecom operator by market cap opened at Rs 12.14 and touched an intraday low of Rs 11.92, falling 4.9% against the previous close of Rs 12.54 on BSE. Stock price of Vodafone Idea also hit a high of Rs 12.90 intraday. Stock has fallen 5.81% in the last 2 days.

3. 10 PM: Indiabulls Housing Finance declines over 6%

Indiabulls Housing Finance stock opened with a loss of 3.68% today and hit an intraday low of Rs 220.4 (-6.89%), after reports suggested that the company is planning to raise Rs 5,000 crore through the securitisation route in the fourth quarter of FY21.

"Our securitisation pipeline is strong. We should be able to raise almost Rs 3,000 crore from the wholesale book and another Rs 2,000 crore from the retail in this (Q4 FY21) quarter," , the company's senior official, the Deputy Managing Directo- Ashwini Kumar Hooda told PTI news agency.

Indiabulls Housing Finance to raise Rs 5,000 crore via securitisation route this quarter

2. 55 PM: Ashok Leyland outlook

LKP Securities said in its note today," We saw a recovery in numbers in Q3 based on improvement in economy, especially on the Trucks and LCVs side. Good monsoon and higher influx of infra projects may drive demand further. LCV demand has been strong throughout the pandemic and is expected to strengthen as last mile transportation is a flourishing business, mainly driven by e-com success. Buses demand is also expected to revive with GOI orders and pandemic fading off. On the margin front, Modular program, cost cutting initiatives, price hikes etc will arrest a fall in margins led by higher input costs. Reduction in inventories (3000 units) and limited capex growth will lead to bouncing back of return ratios. We maintain BUY with a rolled over FY 23E target of Rs 151 on improved volume outlook at a multiple of 24x FY23E earnings."

2. 45 PM: Bharti Airtel share rises over 2%

Bharti Airtel share rose over 2% today after the telco said its board was slated to meet on February 17 to discuss "future strategic plans and reorganisation of shareholding framework" of its subsidiaries.

Share of Bharti Airtel climbed 2.8% to Rs 603 against previous close of Rs 586.55 on BSE. Bharti Airtel share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

The large cap share has gained 5.77% in one year and risen 17.36% since the beginning of this year. Market cap of the telco rose to Rs 3.26 lakh crore

Bharti Airtel share rises over 2% ahead of board meet to discuss future plans

2. 30 PM: Godfrey Phillips India trades tad higher

Godfrey Phillips share price traded tad higher today after hitting an intraday high of Rs 940, after the firm reported an 8.09%     increase in its consolidated net profit to Rs 123.10 crore for the third quarter ended in December 2020. The company had posted a net profit of Rs113.89crore during the October-December quarter of the previous fiscal, Godfrey Phillips India said in a regulatory filing.

Its revenue from operations was up 5.42% to Rs 840.42 crore during the quarter under review as against Rs 797.22 crore in the corresponding period of the previous fiscal.

Godfrey Phillips India Q3 net profit up 8% at Rs 123 crore

2. 20 PM: Banking sector outlook

CapitalVia Global Research Limited- Investment Advisor said in its note today," The Banking sector has already risen in the 1st week of February owing to the Union Budget, Monetary policy and better than expected quarterly earnings of banks like SBI. This segment seems to be somewhat overvalued and at such we might see profit booking at higher levels. Hence, it would be advisable for investors to avoid aggressive longs and Bank Nifty may correct itself to 35700-35800."

2. 10 PM: VIX index

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, fell 1.47% to 21.7175.

2.05PM: Amara Raja Batteries declines over 7%

Shares of Amara Raja Batteries opened with a loss of -2.03% today and hit an intraday low of Rs 915 (-7.58%) intraday. Net profit of the battery maker rose 18% YoY to Rs 193.2 crore in the three months ended December, while its revenue increased 12% year-on-year to Rs 1,960.1 crore.

1. 50 PM: Motherson Sumi surges 23% in two days

Shares of Motherson Sumi Systems hit a fresh 52-week high of Rs 221, surging 23% in the past two trading days. On Monday, the company reported  15% YoY rise in its revenue of Rs 17,923 crore in Q3FY21. The company's profit after tax (PAT) more-than-doubled to Rs 798 crore from Rs 271 crore.

1. 40 PM: Deepak Nitrite hits new high

Deepak Nitrite shares hit a new 52 week and all time high of Rs.1240 today. The stock gained 11% after company's revenues grew 9% to Rs 1,240 crore in Q3FY21, and its profit after tax (PAT) was higher by 38% YoY at Rs 217 crore. Its Earnings before interest, taxes, depreciation, and amortization (EBITDA) grew 25% year on year (YoY) at Rs 340 crore in the December quarter.

1. 35 PM: Brent reaches $63.52 per barrel

Oil prices soared on Monday to their highest in about 13 months as fears of heightened tensions in the Middle East prompted fresh buying, while hopes that a US stimulus and an easing of lockdowns will buoy fuel demand provided support.

Brent crude was up $1.09, or 1.8%, at $63.52 a barrel at 0428 GMT, after climbing to a session high of $63.76, the highest since Jan. 22, 2020.

US West Texas Intermediate (WTI) crude futures gained $1.28, or 2.2%, to $60.75 a barrel. It touched the highest since Jan. 8 last year of $60.95 earlier in the session.

Oil prices gained around 5% last week.

Oil prices soar on heightened tensions in Middle East; Brent reaches $63.52 per barrel

1. 25 PM: Nureca IPO outlook

Choice Broking said in ite note today,"There are no listed entities in India that are engaged in business similar to Nureca. At the higher price band of Rs. 400 per share, the company's share is valued at a FY20 P/E multiple of 62.5x (to its restated EPS of Rs. 6.4."

1. 17 PM: RailTel grey market premium rises to 50% ahead of IPO

The public offer Mini-Ratna category company, RailTel Corporation of India opens for subscription on February 16. The issue, which closes on February 18, will have a price band of Rs 93-94 per share.

The grey market premium (GMP) of RailTel was trading at Rs 141 in the grey market, at a premium of Rs 47-50% over the price band of Rs 94.

Earlier on February 11, the price traded at a premium of Rs 10-15 in the grey market. On February 9, the price had traded at a premium of Rs 5-10.

RailTel grey market premium rises to 50% ahead of IPO

1. 11 PM: Market trades at record highs

Share market indices traded near record highs on Monday, tracking positive cues from global equities. Sensex gained 600 points higher at 52,144 and Nifty added 157  points to 15,320. Today, Sensex hit a record high of 52,177 and Nifty hit a lifetime high of 15,326.

12.41 PM: Nureca IPO outlook

"At the higher end of the price band, Nureca IPO is priced at a PE ratio of ~58 times FY20 earnings per share (on a post-issue diluted basis). However, if we take into account the company's stellar performance in Apr- Sep 20 period, the issue is attractively priced at a PE ratio of around ~5.5 times EPS. Given strong topline growth in the last few years, robust return ratios, favourable outlook and reasonable valuations, we remain positive on the prospects of the issue." INDmoney said in a report.

12. 31PM: Technical outlook

Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities:-"The Sensex / Nifty started the week on a front foot and set new highs above the level of 15260/51835. However, it should not be forgotten that the recent rally has been without any meaningful correction. In the past, whenever the market increased by 1700 to 2000 points, it had retreated by 500 to 1000 points. Given the strength of the global markets and the CPI inflation figures, Nifty/Sensex can rise to the level of 15500/52500 levels. However, that could be the time to shift the portfolio from weak stocks to strong large-cap companies. We also advise our clients to keep lowering the cost value of the portfolio by making a profit on investments that are yielding windfall gains. On the downside, support would be at the 15100/51200 and 14800/50300 level."

12. 23 PM: India's Economic outlook

Aishwarya Sonker from JM Financial said today,"The bond market this week was comforted by the i) INR 200bn of OMO purchases by the RBI, and ii) lower-than-expected retail inflation in Jan'21 at 4.1%.

On the fiscal front, i) Fitch Ratings hinted that India's counter-cyclical fiscal policy support to nascent economic recovery in the FY22 budget, and consequent rise in public debt could negatively affect its sovereign rating, ii) Oil minister Dharmendra Pradhan expressed little confidence in excise duty cut on fuel, and iii) Centre released the 15th weekly instalment to states/ UTs for GST shortfall (INR 900bn disbursed till date vs. INR 2.06trn due for Apr-Nov'20).

Other highlights of the week included- i) increase in the lower & upper limits on domestic airfares by 10-30% till 31 Mar'21, ii) reported disengagement at Pangong Tso from 11 Feb'21 after an agreement between India and China, and iii) Centre's target to conclude the privatisation of BPCL by Jun'21. Data released during the week revealed decline in YoY growth of domestic auto sales and petrol consumption in Jan'21 vs. Dec'20. In the coming week, we look forward to Minutes of the RBI Monetary Policy meeting of 5 Feb'21 as well as data releases on Trade in goods and services, WPI Inflation and RBI Bulletin."

12. 12PM:TTK Prestige outlook

Geojit Financial said,"We revise upwards our Target to Rs.8,180 (earlier Rs.6,870) considering strong performance but revised to Accumulate (from Buy) due to recent sharp increase in stock price. Q3FY21 revenue grew by 23.6%YoY led by strong growth across all categories aided by festive demand along with revival in all channels. E-Com channel continued to perform well and the revenue mix increased to 16% from 14% in FY20. Modern format channels started functioning and MFI-routed sales revived, will support future growth. Demand outlook is positive given strong thrust of the government to revive the economy along with pick up in rural demand. We roll forward and value TTK at 42xFY23E."

12.01 PM: RailTel IPO outlook

Choice Broking said in its bote today," At the higher price band of Rs. 94 per share, RailTel's share is valued at a FY20 P/E multiple of 15.8x (to its restated EPS of Rs. 5.9). Other railway infrastructure companies (IRCON, RITES and RVNL) are trading at an average P/E of 9.5x. However, considering the futuristic service & growth plans of the IR and RailTel's ability to monetize its existing assets through subscription plans and co-sharing with private operators, we feel that fundamentals are positive for the company. Thus we assign a SUBSCRIBE rating for the issue."

11. 45 AM: USD INR Weekly View

Kshitij Purohit, Product Manager, Currency & Commodities at CapitalVia Global Research said," Indian Rupee breakout below the the support level of 72.80 -72.75 levels which was unbeaten since March 2020, after global rating agency Moody's said that India's economic recovery reduces the risk of a sharp deterioration in public sector banks' mildly improving asset quality. High forward yield is giving foreign investor to sell USDINR in both NDF and domestic market and results USDINR is not able to move upside. However, at the same time RBI is defending the domestic currency to be stronger for the exporter perspective and become the biggest buyer of greenback. High forward premium is also discouraging importers from hedging results Volatility has collapsed.

He added," The U.S. Dollar Index is currently testing the nearest support level at 90.30 and several times it bounces back with strength from the same. Only below 90.30 will push the U.S. Dollar Index towards the support at the 90 level. However, rising yields could lead to a re-thinking of this strategy. If the yield curve becomes steeper and differentials become much wider, expect to see a strong recovery in the Dollar despite the new expected stimulus."

On the currency's technical outlook, he said,"The main trend is bearish according to the daily swing chart and after the successive closing below 72.75 short-term trend also become down and there can be sharp move towards 72.00 levels. Any closing above 72.80 will change the view. RBI weekly data says Indian Forex reserve is increased bit and reached $583 billion which was decreased a beat. Technically, USDINR pair closed firm against the US Dollar taking ques from weak dollar index. USDINR spot is trading near 72.60 and broke the strong support of 72.75-72.80 level, following the Septkember 2019 peak of 72.37 and the highs marked during early 2020 near 72.20 will precede USD/INR sellers targeting the 72.00 threshold."

11. 35 AM: Market update

The S&P BSE Mid-Cap index was up 0.52%. The S&P BSE Small-Cap index was up 0.39%. The market breadth, indicating the overall health of the market, was positive on the BSE, with 1348 shares rising 906 shares falling, and a total of 107 unchanged shares.

11. 23 AM: Nureca IPO kicks off today

The sixth initial public offering in the calendar 2021- Nureca IPO opens for subscription on February 15 and will close on February 17.

The company plans to raise Rs 100 crore via public issue. The price band for the public issue has been fixed at Rs 396-400 per equity share at face value of Rs 10 each. Investors can bid for a minimum of 35 equity shares and in multiples of 35 shares thereafter and up to 14 lots. The company has reserved shares worth Rs 1 crore for its employees. The eligible employees will get shares at a discount of Rs 20 per share. As per the company's DHRP, the company plans to utilise issue proceeds for funding incremental working capital requirements and general corporate purposes.

Nureca IPO kicks off today: Should you subscribe to the issue?

11. 11 AM: Global markets toay

Markets like Nikkei and Kospi gain after Japan's GDP grew 12.7% which was higher than est. of 9.5%. Other major markets remained closed for Lunar holiday.

US markets closed slightly higher on Friday. Shares of Disney gave up early gains even after reporting better quarterly earnings. Markets are closed today in US for President's Day holiday.

European markets closed higher on Friday as investors analysed economic data and quarterly earnings along with updates on vaccination. Media and IT shares led the upside.

Oil price gained on Friday backed by hopes over US stimulus bill but disappointing demand outlook from OPEX capped gains.

11. 02 AM: Nifty Outlook

Geojit Financial said in its note,:"Though 15260 region held firm on expected lines on Friday, Nifty looks poised to see 15500 this week. This upmove is likely to unfold without much dram, but a pull back again below 15109 will have to be considered as a weakening sign."

10. 54 AM: Top gainers today

Airtel, HDFC twins, ICICI Bank, Kotak Mahindra Bank, Infosys, IndusInd Bank and Axis Bank were trading among the top gainers.

10. 38 AM: Sensex scales 52,000 mark, Nifty crosses 15,300

Sensex zoomed over 500 points to scale the 52,000 mark for the first time ever in early trade today. The 30-stock index rose 566 points to 52,110 against previous close of 51,544. Nifty too hit an all-time high of 15,314, rising 151 points against previous close of 15,163.

On Sensex, top gainers were the HDFC twins, ICICI Bank, Kotak Mahindra Bank and Infosys rising up to 2.25%. Bharti Airtel,  IndusInd Bank and Axis Bank were the top Nifty gainers ,rising up to 2.7%.

Sensex scales 52,000 mark, Nifty crosses 15,300; Bharti Airtel, IndusInd Bank, Axis Bank top gainers

10. 20 AM: Global markets

Overseas, Asian stocks are trading higher on Monday. Markets in China, Hong Kong, Taiwan as well as the U.S. are closed on Monday for holidays.

US stock indexes closed at record highs Friday, as quarterly corporate earnings reports impressed analysts. Traders said prospects of more financial aid from Washington and as coronavirus cases are fell and vaccine rollout picked up steam.

10. 12 AM: Stocks to watch today on February 15 

Tata Motors, Airtel, Vodafone, PowerGrid, ONGC, Godrej Industries among others are the top stocks to watch out for in Monday's trading session

Stocks in news: Tata Motors, Airtel, Vodafone, PowerGrid, ONGC, Godrej Industries

10.00 AM: Market outlook

On markets opening --Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said,"The Nifty has opened the week with a gap up and is headed to its next target of 15500. We have a good support for the index at 15100 and until that does not break on a closing basis, we can buy on dips or intra day corrections. Traders are advised to maintain stops and book profits at regular intervals.

9. 52 AM: Morning view on the market

Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said,"CPI inflation for Jan at 4.06 % and the rebound in IIP are positive news for the market. The Nifty Bank Index is up by 15.5% this year compensating for the relatively poor performance in 2020. The important take away from this and other important data pertaining to credit growth, IIP, electricity consumption, eway bills, GST collections and sales of commodities like cement and autos is that the growth recovery is gaining momentum. If this trend is sustained, corporate profits will surprise on the upside in FY 22, bringing the stock valuations down. Rising crude price is an area of concern"

9. 31 AM: Earnings today

Jet Airways, Alora Trading Company, Advance Syntex, CDG Petchem, Emmsons International, Eureka Industries, Hawa Engineers, Hindustan Everest Tools, JIK Industries, Kerala Ayurveda, PG Foils, Archana Software, Sunraj Diamond Exports, Vishvprabha Ventures and Vantage Knowledge Academy are among 23 companies to announce their quarterly earnings.

9. 23 AM: Opening Session

Share market indices opened on a bullish note on Monday, amid positive global equities. Sensex gained 450 points higher at 52,015 and Nifty added 120 points to 15,285. Earlier today, Sensex hit a record high of 52,023 and Nifty hit a lifetime high of 15,297. SGX Nifty on the Singapore Exchange was rising by 90 points, indicating a positive trend in domestic grounds today.

9. 15 AM:Nifty technial outlook

Reliance Research in its note said,"NSE-NIFTY ended on positive note post back to back flat close. Overall market breadth was positive, while major sectors remained mix. Due to recent rebound, major technical indicators on the near-term timeframe turned neutral from negative. As per the current set-up, we continue to believe that near-term decline or consolidation cannot be ruled out before the index resumes its northward journey. A stable move above 15,250-level will strengthen the index for its next leg of up-move, which could take the index towards 16,000-level. In case of decline, the index will find support at around 14,850-level initially and 14,700-level subsequently. 

 

As for the day, support is placed at around 15,096 and then at 15,019 levels, while resistance is observed at 15,219 and then at 15,266 levels."

9.06 AM: Key data release

On the macro front,  India's retail inflation, which is measured by the Consumer Price Index (CPI), eased to 4.06% in the month of January 2021. The retail inflation during the month of December 2020 was at 4.59%.

Meanwhile, country's factory output, measured in terms of the Index of Industrial Production (IIP), witnessed a growth of 1% in December 2020, two separate data released by the Ministry of Statistics & Programme Implementation (MoSPI) showed on Friday. The IIP had grown 0.4% in December 2019, the data showed.

Wholesale inflation rises to 2.03% in Jan from 1.22% in Dec

8. 50 AM: FII action

Foreign portfolio investors (FPIs) sold shares worth Rs 37.33 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 597.62 crore in the Indian equity market on 12 February, provisional data showed.

8. 45 AM: Closing on Friday

Paring gains from early trade, Sensex ended 12 points higher at 51,544 and Nifty fell 10 points to 15,163. Earlier today, Sensex hit a record high of 51,804 and Nifty hit a lifetime high of 15,243.

Sensex, Nifty close flat after hitting record highs; RIL, Bajaj twins, Airtel top gainers

Top gainers today: List of 8 shares that rose over 3%