MARKET WRAP: Indices end flat, Nifty holds 10,900; Sun Pharma tanks 9%

The S&P BSE Sensex ended just 13 points higher at 36,387, while NSE's Nifty50 index held the crucial 10,900 level to close at 10,907, up 2 points.

3:38 PM

NSE sectoral gainers and losers of the day

3:35 PM

Gainers and losers of the day on BSE Sensex

3:32 PM

Market at close

 

The S&P BSE Sensex ended at 36,387, up 13 points or 0.03 per cent, while the broader Nifty50 index settled at 10,907, up 2 points or 0.02 per cent.

3:17 PM

Reliance to invest Rs 3 trillion in next 10 years in Gujarat: Mukesh Ambani

India's richest person Mukesh Ambani Friday committed to investing Rs 3 trillion in various projects in the next 10 years in Gujarat, that may range from energy and petrochemical to new technology and digital business.

 

Ambani's Reliance Industries operates the world's largest oil refining complex at Jamnagar in Gujarat as well as petrochemical units at multiple locations in the state. READ MORE

2:54 PM

Top gainers and losers on S&P BSE Sensex

2:37 PM

Top losers on BSE500

COMPANY	PRICE( )	CHG( )	CHG(%)	VOLUME
LINDE INDIA	620.80	-146.15	-19.06	175684
SPARC	145.95	-26.05	-15.15	709766
SUN PHARMA.INDS.	379.40	-47.75	-11.18	4672480
PHILLIPS CARBON	184.90	-22.80	-10.98	588832
SUN TV NETWORK	524.35	-41.60	-7.35	262072

2:21 PM

Sun TV Network, Ashok Leyland, Nilkamal, SPARC hit 52-week lows

Shares of Sun TV Network, Ashok Leyland, Force Motors, Deepak Fertilisers and Chemicals, Sun Pharmaceutical Industries, Sun Pharma Advanced Research (SPARC), Nilkamal and Jamana Auto Industries were among eight stocks from the S&P BSE 500 index hit their respective 52-week lows on the BSE on Friday.

Shares of Sun TV Network hit a two-year low of Rs 514, down 9 per cent on the BSE, on back of heavy volumes. The stock of broadcasting & cable TV operator was trading at its lowest level since January 3, 2017. Read more

 

2:09 PM

Market check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	36,350.94	-23.14	-0.06
S&P BSE SENSEX 50	11,398.82	-10.04	-0.09
S&P BSE SENSEX Next 50	32,447.89	-230.96	-0.71
S&P BSE 100	11,160.99	-19.61	-0.18
S&P BSE Bharat 22 Index	3,444.49	-24.92	-0.72

1:57 PM

NEWS ALERT | L&T Infotech Q3 net profit at Rs 375.5 crore

1:55 PM

NEWS ALERT | NIIT Tech Q3 consolidated net profit at Rs 100.2 cr

1:48 PM

PREVIEW Wipro Q3: Revenue in CC terms may grow 2% QoQ; deal wins, digital biz eyed

IT firm Wipro is scheduled to release its financial results for October-December period of FY19 today. This quarterly earnings report of the company will be keenly watched for growth rates in Energy and Utilities, acceleration in Banking, financial services and insurance (BFSI), participation in large deals and digital growth rates.

 

The company will also consider a proposal for issuing bonus shares to shareholders in its board meeting today. READ MORE

Wipro

1:30 PM

NEWS ALERT Dhanlaxmi Bank Q3 results

Net Profit of Rs 16.9 crore (Q3FY19) vs loss of Rs 21.74 crores (Q3FY18)

1:18 PM

Foreign buying of emerging Asian bonds in 2018 fell sharply

Foreign purchases of bonds issued in five Asian markets in 2018 fell sharply from the previous year, data shows, as the Sino-U.S. trade war and higher U.S. yields prompted many investors to shy away from riskier assets.

 

Data from central banks and bond market associations showed overseas investors bought a net $10.02 billion in Indonesian, Thai, South Korean, Indian and Malaysian bonds in 2018, compared with $49 billion in 2017. READ MORE

1:01 PM

Higher margin norms likely to affect derivatives segment volumes

In what may impact volumes and reduce leverage in the market, brokers will collect much higher margins from clients trading in the derivatives segment from Monday.

 

Over the past few months, the Securities and Exchange Board of India (Sebi) has raised the margin requirement thrice, effectively increasing it by 40-50 per cent. Options writers, especially those writing out of the money options, and arbitrageurs, who attempt to profit from price inefficiencies, will be hit the most. READ MORE

12:47 PM

Telecom stocks under pressure: Bharti Airtel, Vodafone India fall up to 7%

Shares of telecom services provider Bharti Airtel and Vodafone Idea have fallen by up to 7 per cent on BSE in the intra-day trade. Bharti Airtel has dipped 7 per cent to Rs 310 on the BSE. Vodafone Idea slipped 6 per cent to Rs 34.60, trading close to its 52-week low of Rs 32.10 on December 12, 2018, on BSE in the intra-day trade. In comparison, the S&P BSE Sensex was down 0.16 per cent at 36,316 points at 11:57 am. READ MORE

12:29 PM

Top gainers and losers on S&P BSE Sensex

12:16 PM

Market check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	36,275.57	-98.51	-0.27
S&P BSE SENSEX 50	11,379.33	-29.53	-0.26
S&P BSE SENSEX Next 50	32,487.45	-191.40	-0.59
S&P BSE 100	11,146.42	-34.18	-0.31
S&P BSE Bharat 22 Index	3,449.06	-20.35	-0.59

12:03 PM

Prabhudas Lilladher on Reliance Industries

In-line performance
 

Rating: ACCUMULATE 

CMP: Rs 1,134 

TARGET PRICE: Rs 1,238

 

--Stellar petrochemicals performance make up for weak refining earnings

-- Global refining margins to come off as net capacity addition of 2mbpd for CY19 will be higher than crude demand of 1.4mbpd.

-- IMO 2020 will lift diesel spreads in FY21 as marine fuel sulfur norms are tightened. RIL with high complexity well placed to capitalize.

11:59 AM

Wipro nears 52-week high ahead of board meet for bonus issue, Q3 results

Shares of Wipro were trading firm at Rs 341 apiece, up 1.5 per cent on the BSE, in an otherwise subdued market, ahead of the board meeting today to consider bonus issue and December quarter results. In comparison, the S&P BSE Sensex was down 0.15 per cent at 36,320 points at 11:06 am. Wipro was trading close to its 52-week high of Rs 344 hit on December 13, 2018, on the BSE in intra-day trade. Read more

11:46 AM

Web Exclusive Tech analysis: How RIL, HUL and Sun Pharma shares look on charts

A host of companies including index heavyweights such as Reliance Industries (RIL) and Hindustan Unilever (HUL) announced their third quarter results of FY19 on Thursday. Here's a look at what technical indicators suggest for them and other buzzing stocks -

 

Reliance Industries: The formation of the Symmetrical Triangle on the daily chart has triggered rally towards the high of Rs 1,186 level, touched in November last year. The said pattern represents consolidation before breaking out or breaking down. The two trendlines need to converge to start afresh rally. Click here to read more

11:25 AM

Wipro Q3 preview: Revenue in CC terms may grow 2% QoQ; deal wins, digital biz eyed

IT firm Wipro is scheduled to release its financial results for October-December period of FY19 today. This quarterly earnings report of the company will be keenly watched for growth rates in Energy and Utilities, acceleration in Banking, financial services and insurance (BFSI), participation in large deals and digital growth rates. The company will also consider a proposal for issuing bonus shares to shareholders in its board meeting today. Click here to read more

 

11:16 AM

Rallis India falls 6% on disappointing December quarter results

Rallis India declined 6 per cent to Rs 163 on the BSE in morning deals after it reported 45 per cent year-on-year (YoY) fall in its consolidated net profit at Rs 13.76 crore in December quarter (Q3FY19). READ MORE

11:00 AM

Dalal Street sees strong recovery for Apollo Hospitals

While other listed hospital stocks are struggling on the bourses, Apollo Hospitals has been hitting 52-week highs in recent weeks. The company has been an outlier among peers on expectation of better utilisation and performance in the hospitals business and value unlocking through monetisation of its pharmacy business.

 

The latter business is India’s largest, with over 3,000 stores and a standout segment in recent years. READ MORE

10:46 AM

Top losers on BSE500

COMPANY	PRICE( )	CHG( )	CHG(%)	VOLUME
SUN PHARMA.INDS.	383.40	-43.75	-10.24	2040888
SPARC	159.40	-12.60	-7.33	231992
HSIL	232.00	-15.95	-6.43	2329
LINDE INDIA	732.55	-34.40	-4.49	12790
BAJAJ CONSUMER	371.00	-17.35	-4.47	2447

10:45 AM

Sun Pharma plunges to six-year low on fresh whistleblower complaint buzz

Shares of pharma bellwether Sun Pharma crashed to their six year- low of Rs 375.40 apiece in the early trade on Friday after news reports suggested fresh whistleblower documents were sent to Sebi. The stock plunged as much as 12 per cent on BSE. In the last two trading days, the stock has fallen 17 per cent. Based on the low price of Rs 375.40, the company's valuation got eroded by Rs 12,416 crore in the intra-day trade. In two days, the company has lost Rs 18,702 crore in m-cap. Read more

10:30 AM

Weak telco financials could dent Bharti Infratel's plans; stock falls

With the telecom sector struggling with pricing pressures and excessive leverage, Bharti Infratel (Infratel), which counts the top telcos as its clients, has been under pressure. Its stock has declined over 18 per cent over the last year on worries of tenancy growth, given the weak balance sheets of its clients and consolidation in the sector. The firm, in a recent interaction with analysts, allayed fears regarding growth in tenancies and potential growth avenues. Given the higher churn after consolidation in the sector, there were worries about tenancies. Read more

10:17 AM

Reliance Industries gains 2% as Q3 profit beats estimate

Shares of Reliance Industries gained 2 per cent to Rs 1,157 apieceon the BSE after the company reported a better-than-expected consolidated net profit of Rs 10,251 crore in October-December quarter (Q3FY19). RIL became the first Indian private sector company to cross Rs 10,000 crore quarterly profits milestone. The company had a profit of Rs 9,420 crore in the year-ago quarter. READ MORE

 

9:57 AM

Market check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	36,311.16	-62.92	-0.17
S&P BSE SENSEX 50	11,392.13	-16.73	-0.15
S&P BSE SENSEX Next 50	32,627.45	-51.40	-0.16
S&P BSE 100	11,164.04	-16.56	-0.15
S&P BSE Bharat 22 Index	3,467.44	-1.97	-0.06

9:44 AM

Expect strong fund-raising after elections: Equirus Capital's Ajay Garg

After beginning its journey in 2007 as an advisory, Equirus has diversified into institutional broking, investment banking and wealth management. According to reports, the financial services firm is looking to acquire IDFC Securities, which is on the block. While refraining from commenting on any specific deal, Ajay Garg, founder and managing director of Equirus Capital, tells Jash Kriplani about his company’s growth plans and how the market activity can play out. Click here to read more

Ajay Garg, Founder & MD, Equirus Capital

 

9:24 AM

NEWS ALERT Sun Pharma hits 52 week low in early trade