MARKET WRAP: Sensex slips 316 pts from day's high, ends 52 pts up; PSBs dip

In the broader market, S&P BSE mid-cap closed at 13,518 levels, up 27 points, or 0.20 per cent. The S&P BSE small-cap index settled 64 points higher, or 0.51 per cent, at 12,649 levels.

4:18 PM

TECH VIEW :: Gaurav Bissa, AVP (Derivatives and Technical), LKP Securities

Nifty opened on a gap-up note and was seen trading with strong gains for major part of trading session. It, however, failed to sustain higher levels and closed flat. Nifty has witnessed good selling in 11000pe in weekly series which implies the index can find support near these10,980-11,000 levels. The index is forming 'C Clamp' formation on ichimoku charts and is expected to witness a move till 11220-11240 in next few trading sessions.
 

Same goes for Nifty Bank index, which has also formed 'C Clamp' on daily charts and can witness a move till 29,000 levels. It has also witnessed bullish MACD crossover, which is likely to keep the uptrend intact

4:15 PM

MARKET COMMENT :: Vinod Nair, head of research, Geojit Financial Services

Global trade optimism and rebound in IT & Pharma stocks provided an initial push to the market but the bulls failed to maintain the momentum due to absence of earnings growth. Industries are facing the heat of slowdown, while the market is expecting a solid intervention by government to revive the economy, until such announcements volatility may continue

3:44 PM

Sectoral gainers and losers on the NSE

3:43 PM

Top gainers and losers on the S&P BSE Sensex

3:40 PM

CLOSING BELL

The S&P BSE Sensex gained 52 points or 0.14 per cent to end at 37,402.49 while NSE's Nifty50 index settled at 11,054, up just 6 points or 0.05 per cent. 

3:22 PM

NEWS ALERT | GST rate fitment committee yet to receive any proposal on auto sector: sources to CNBC TV18

3:22 PM

NEWS ALERT | BS-IV vehicles registered before April 1 2020 not to face any regulatory challenge

-- Govt keen to allay concerns on use of BS-IV vehicles post April 2020 to help clear inventory

3:21 PM

NEWS ALERT | Govt to allay concerns on use of BS-IV vehicles post April 1 2020: sources to CNBC TV18

-- Govt yet to finalise relief measures, discussions underway

3:04 PM

NEWS ALERT | KEC International wins order worth Rs 845 crore

 

 

3:03 PM

Prefer two-wheelers over four-wheelers in this market: BNP Paribas to CNBC-TV18

- Midcap staples, IT provide good investment opportunity

3:00 PM

ICICI Securities on HEG

While global graphite electrode prices have witnessed a softening trend, the uptick in prices of key raw material (viz. needle coke) is likely to impact the company’s margin profile. We downward revise capacity utilisation level to 70.0% for FY20E (from 85% earlier) and to 75%for FY21E (from 85% earlier). We value the stock at 6x FY21E EPS and arrive at a target price of Rs 900. We maintain our REDUCE rating on the stock.

2:57 PM

Elara Capital on utilities sector

Power is one sector where investors should look at companies with an assured ROE (on average 15.5%-plus incentives) and increased fuel security (15-20% higher imports & an 8% increased supply from Coal India), which, in turn, would provide adequate earnings visibility and command a premium over current valuation. We initiate coverage of NTPC on inexpensive valuation (1.0x P/ABV), Tata Power on all negatives priced in, Torrent Power on strong earnings recovery & PTC India on attractive valuation with a Buy rating and JSW Energy on strong cashflow visibility, CESC on pure power play with earnings stability, Adani Power on turning profitable & Coal India on domestic growth story with an Accumulate rating. We have a Reduce rating on Power Grid Corporation as we believe its high capex story is over and earnings growth is tapering off.

2:54 PM

MARKET CHECK | Most capital good stocks rally; S&P BSE Capital Goods up over 1%

2:40 PM

ABB, Siemens, Thermax: How to trade capital goods stocks in this market?

ABB India Ltd (ABB): Although the counter is trading slightly below the 200-day moving average, it has not showed any signs of a bigger breakdown yet. That said, failing to hold above Rs 1,500 has led to price erosion. Going ahead, if the counter sustains above Rs 1,300 - its immediate support – then a rally towards Rs 1,500 may be expected. READ MORE

2:35 PM

Market check

2:30 PM

NEWS ALERT | Expect India MPC to pause in Oct; focus on rate-cut transmission: Industrial and Commercial Bank of China

-- India Bond Yield Curve to steepen more as sovereign bond issue unlikely in FY20

 

-- India's shorter end of Bond Yield Curve looks attractive

 

-- See India repo rate falling to 5% by March

(Via BTVi)

2:27 PM

NEWS ALERT | Confusion in consumer mind with regards to EV and BS-VI leading to postponement of demand pick-up: FADA

-- The consumer sentiment and demand continues to be quite weak and purchase postponement continues

-- Transmission of surplus liquidity and interest rate cuts still not seen in retail lending

-- Surplus liquidity in the system after a prolonged shortage of it. Hopeful of aggression in retail lending soon.

2:25 PM

July Vehicle Registration Data | 2W sales see de-growth of -5%, PV by -11% and CV at -14% YoY: FADA

-- Positive growth seen on a MoM basis, with overall sales up by 5% 

-- PV inventory levels reduces further and comes closer to FADA’s proposed 21 days inventory

-- CV inventory continues to be at high level

-- Very slight reduction seen in 2W inventory levels and they continue to remain at very high levels and a serious cause of concern for dealers

Alert: FADA is Fedederation of Automobile Dealers Association

2:13 PM

Buzzing | Force Motors soars 18%

2:03 PM

Majority of economists expect US recession in next 2 years: Survey

A majority of economists expect a US recession in the next two years, but have pushed back the onset amid Federal Reserve actions, according to a survey released Monday. 

 

The National Association for Business Economists found far fewer experts now think the next recession will start this year compared to a survey in February. READ MORE

1:54 PM

APL Apollo Tubes slips nearly 3%

1:39 PM

Market check | Nifty slips below 11,100

1:37 PM

Market check | Sensex pares gains partially

1:34 PM

NEWS ALERT | South Indian Bank cuts MCLR by 5 bps across all tenors w.e.f August 20

1:33 PM

NEWS ALERT | Task force on Direct Tax Code to submit report at 3:00 pm today: Govt official

1:32 PM

NEWS ALERT | Banks to give incremental loan to DHFL for wholesale real estate project: sources to BTVi

-- Banks decide to restructure term loan for the retail books of DHFL

 

-- Loans to be given in the range of Rs 10,000 cr-Rs 18,000 cr

 

1:26 PM

NEWS ALERT | Considering market conditions, response to IPO exceeded co's expectations: Padmaja Reddy, MD, Spandana Sphoorty to BTVi

-- Micro & macroeconomic conditions behind lukewarm IPO

 

-- Portfolios diversified not only across states but also across districts

Alert:  Spandana Sphoorty's IPO got listed today, earlier in the day, at a discounted price of Rs 824/sh (on the BSE) as against an issue price of Rs 856

1:22 PM

DHFL zooms 10%

1:16 PM

IDBI rises over 7%

1:15 PM

ICICI Securities on Sadbhav Engineering

While SIPL (Sadbhav Infrastructure Project) deal should deleverage Sadbhav Engineering (SEL) and SIPL’s balance sheet, the management has lowered its guidance sharply resulting in earnings downgrades. Secondly, we are unclear in terms of possible synergies from the considered merger between SEL and SIPL. Besides this, the awaited equity swap ratio would influence the price movement of each stock if the merger goes through. Hence, we downgrade the stock to HOLD with a target price of Rs 140/share.