MARKET WRAP: Indices recoup losses; Sensex up 180 pts, Nifty ends at 10,730

The S&P BSE Sensex gained 180 points or 0.5 per cent to settle at 5,650 after witnessing a 700-point swing in the intraday-trade.

3:42 PM

Sectoral gainers and losers of the day

3:40 PM

BSE Sensex: Bharti Airtel, HDFC twins among top gainers of the day

3:32 PM

Market at close

 

The S&P BSE Sensex ended at 35,650, up 180 points or 0.51 per cent, while the broader Nifty50 index settled at 10,730, up 66 points or 0.62 per cent.

3:15 PM

Oil Check

Oil prices were mixed on Wednesday as the US benchmark rebounded from steep losses in the previous session, even though concern over the health of the global economy continued to overshadow the market.

 

US West Texas Intermediate (WTI) crude futures, were up 13 cents, or 0.31 per cent, at $42.66 per barrel. Prices earlier rose as much as 2 percent. They slumped 6.7 per cent in the previous session to $42.53 a barrel, the lowest since June 2017. READ MORE

3:05 PM

Gold climbs to six-month peak on waning risk appetite

Gold prices hit a six-month high on Wednesday as concerns over global growth and a partial government shutdown in the United States fuelled risk aversion, prompting investors to seek refuge in the metal.

 

Spot gold climbed 0.4 per cent to $1,273.77 per ounce. It hit $1,274.68 in early trade, its highest since June 20. US gold futures were up 0.4 per cent at $1,276.5 per ounce. READ MORE

2:51 PM

Top Securities traded in "S&P BSE 500" with respect to Top Volumes

Security Name	Security Group	Open	High	Low	LTP	No. of Shares Traded	Total Turnover(₹ Lac.)	No. of Trades
RCOM	A	14.20	14.39	13.82	14.36	1,24,44,251	1,749.00	3,21,396
JPASSOCIAT	A	7.20	7.20	6.83	7.17	66,81,646	465.00	13,157
YESBANK	A	182.20	182.60	174.25	180.50	43,14,903	7,655.00	22,148
SUZLON	A	5.50	5.53	5.26	5.44	25,47,341	136.00	20,869
SPICEJET	A	85.75	87.60	84.70	87.05	22,15,192	1,913.00	10,205

2:46 PM

Kotak Securities on Indian Railways

 

Indian Railways has benefited from the flexi-fare scheme with a recent response to a Lok Sabha question quantifying Rs 10 billion of additional revenues in FY2018 (amount to 7 per cent growth over AC rail revenues in FY2017). With no meaningful loss seen in occupancy in the key Rajdhani/Shatabdi/Duronto trains, Indian Railways has made changes to its flexi-pricing scheme largely to address the issue of low-occupancy in other trains. 

 

The changes include: 

 

- discontinuation of such scheme in 15 trains and for another 32 trains during the lean period; 

- reducing cap on surge pricing now at 1.4X of base rate versus 1.5X earlier; and

- graded discount on trains with low occupancy four days prior to chart preparation. These changes would impact travel after 15th March 2019.

2:39 PM

Prabhudas Lilladher on Coal India

 

Rating: HOLD | CMP: Rs 248 | TP: Rs 270

 

Coal India (COAL) FYTD Volume growth slowed to 5.5% while, the growth in August--December’18 was mere 1% despite severe shortage of coal, led by improved demand from Power sector and pick-up in economic activity. Overall volumes growth would remain weak for rest of FY19e and FY20e due to poor rail connectivity at newly commissioned mines and peaked out Road/Belt route. We factor in 4.8%/5.5% growth in FY19e/FY20e. As happened in the past, margin rich E-auction volumes faced the brunt to meet the volumes tied-up in Power and Non-power FSAs. Led by weak operational performance and rising headwinds due to Govt policy on opening up the sector. We trim our multiple by 9% to 10xFY20e P/E and downgrade the stock to HOLD with TP of Rs270 (Rs330 earlier).

2:31 PM

WEB EXCLUSIVE Three Nifty Pharma stocks that can rise up to 10% from the current levels

 

The Nifty Pharma index faces resistance around 200-weighted moving average (WMA) and is consistently trading below April 2017 levels. Its attempt to conquer the level failed as technical indicators entered in overbought region as per the weekly chart. The daily chart indicates trend line resistance on every new rise, coinciding with earlier significant support levels now becoming resistance. Read more

Photo: Shutterstock

 

2:23 PM

Top gainers on BSE500

COMPANY	PRICE( )	CHG( )	CHG(%)	VOLUME
INDOSTAR CAPITAL	335.45	22.70	7.26	3059
SIEMENS	1037.20	41.25	4.14	50204
SPICEJET	86.90	3.15	3.76	2031378
QUESS CORP	656.80	23.80	3.76	7404
GE T&D INDIA	277.30	9.85	3.68	3672

2:15 PM

Top 10 stock recommendations by Motilal Oswal for 2019

The benchmark indices have witnessed a 4 per cent rise so far in the calendar year 2018 (CY18). With barely three trading sessions left in the current year, we take a look at some of the stocks that are likely to deliver decent returns in the coming year.

Here’s a list of 10 stock ideas for 2019 recommended by Motilal Oswal Financial Services (MOFSL)

 

2:00 PM

Market Check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	35,589.76	+119.61	+0.34
S&P BSE SENSEX 50	11,196.63	+33.63	+0.30
S&P BSE SENSEX Next 50	32,490.91	+116.43	+0.36
S&P BSE 100	10,992.91	+33.93	+0.31
S&P BSE Bharat 22 Index	3,457.92	+24.13	+0.70

1:45 PM

P-notes investment in Indian markets climbs to Rs 792 bn in November

Investments in the Indian capital market through participatory notes climbed to Rs 792.47 billion in November after hitting a nine-and-a-half year low at the end of preceding month. P-notes are issued by registered foreign portfolio investors (FPIs) to overseas investors who wish to be part of the Indian stock market without registering themselves directly. They, however, need to go through a due diligence process. READ MORE

1:29 PM

ICICI Direct Research on Banking Sector

The two major worries of the Indian banking sector - rising stressed assets and increasing G-sec yields - are largely behind us. Continuous effort on part of the government to move PSU banks out of the PCA (prompt corrective action) framework along with declining MTM (mark-to-market) losses on G-sec augurs well for PSU banks. With liquidity measures, NBFCs have witnessed some relief but we still believe all NBFCs and troubled banks are not yet out of the woods. Hence, we stick to our stance of preferring businesses with robust operating model, strong and stable franchise, both on asset as well liability side and strong management. Within banks, we continue to recommend SBI and Axis Bank among large caps and City Union Bank in the midcap space. In the NBFC space, we prefer Bajaj Finance owing to its favourable business attributes.

1:16 PM

Brigade Enterprises hits three-month high; surges 36% in two months

Shares of Brigade Enterprises hit a three-month high of Rs 220 per share, up 6% on the National Stock Exchange (NSE) in an otherwise market after the brokerage firm Motilal Oswal Securities initiates coverage on the stock with a Buy rating and 12-month target price of Rs 282. READ MORE

1:01 PM

NEWS ALERT Delegation of NBFCs and HFCs to meet Prime Minister Narendra Modi today, reports CNBC TV18

12:59 PM

How to play the market gap ups and gap downs

One of the common terms you must have in markets quite often is a gap up or a gap down. Gaps are the space between the open and the closing prices of two consecutive days and such gaps normally get filled. Hence it is an important indicator to the trader in identifying the trading opportunities on the stock. READ MORE

12:44 PM

We sense possibility of interest rates reversing: Mahindra MF's Rahul Pal

Debt markets have had to deal with an unusually high volatile period in 2018. Default by IL&FS came as a rude shock to investors parking funds in liquid and income schemes. The concerns over creditworthiness of issuers and rising interest rates had pushed debt schemes lower on investors’ radar. In an interaction with Jash Kriplani, Rahul Pal, head of fixed income at Mahindra Mutual Fund, offers his views on whether 2019 can bring some cheer to debt market investors. Click here to read full interview

12:30 PM

Total 52 securities hit 52-week low on NSE

12:27 PM

Reliance Securities on KPTL

RATING: Buy

Target Price: Rs 544

KPTL is a diversified EPC player involved in execution of power transmission and pipeline projects. It also undertakes buildings, roads and power plant construction projects through its subsidiary JMC Projects. KPTL’s standalone order book stood at Rs142 bn as of 2Q FY19 end; order inflow in H1 FY19 stood at Rs 47.4bn up 48% with L1 in excess of Rs 20 bn. Kalpataru Power Transmission (KPTL) has delivered a strong performance in 2QFY19 led by better-than-expected execution in Railway, Oil & Gas Pipeline and T&D business. At subsidiary level, JMC’s revenue continue to grow owing to improved project execution also Shree Shubham Logistics reported strong growth in revenue. Looking ahead, we expect KPTL to be one of the key beneficiaries of strong transmission capex in both domestic and global markets, which would drive 21% CAGR in earnings through FY18- 20E. We have valued SSL based on EV/EBITDA multiple of Rs8.0/share. We have BUY recommendation on the stock with a target price of Rs 544  

12:13 PM

Nagarjuna Fertilizers surges 18% as operations resume at Andhra plant

Shares of Nagarjuna Fertilizers and Chemicals rose as much as 18 per cent to Rs 9.78 on the BSE in morning trade on Wednesday as the company restarted production of urea from Unit I of Kakinada Plant, Andhra Pradesh on December 23, 2018. The fertiliser company is in the process of a long-term debt resolution with its lenders. Read more

12:00 PM

Market check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	35,215.78	-254.37	-0.72
S&P BSE SENSEX 50	11,087.37	-75.63	-0.68
S&P BSE SENSEX Next 50	32,189.44	-185.04	-0.57
S&P BSE 100	10,886.37	-72.61	-0.66
S&P BSE Bharat 22 Index	3,430.14	-3.65	-0.11

11:43 AM

Top gainers and losers on S&P BSE Sensex

11:35 AM

Stock Ideas for 2019 by Motilal Oswal Financial Services Ltd (MOFSL)

11:23 AM

NEWS ALERT | N Srinivasan appinted non-executive director of IL&FS

11:22 AM

NEWS ALERT | IL&FS appoints retired IAS, Bijay Kumar as Deputy MD

11:09 AM

Top losers on BSE500

COMPANY	PRICE( )	CHG( )	CHG(%)	VOLUME
SYMPHONY	1080.00	-70.75	-6.15	1996
TAKE SOLUTIONS	143.00	-7.75	-5.14	3882
INDIABULLS INTEG	364.70	-19.15	-4.99	21810
JM FINANCIAL	84.95	-4.30	-4.82	52360
GRAPHITE INDIA	717.70	-36.25	-4.81	107420

10:59 AM

HDFC Securities on Cipla

 

At present, the stock is trading at 23/17x FY20/21 P/E, at a nearly 20 per cent discount to its historical average. We see this as a good opportunity to accumulate, with Cipla generating US$ 150 mn+ FCFs (free cash flows) annually on the back of robust branded franchises in India and South Africa. It is also consistently receiving complex product approvals in the US, which are likely to drive the top line and make the US business profitable. Upgrade to BUY with a target price (TP) of Rs 605 (22x Dec-20E EPS).

 

10:57 AM

Jubilant FoodWorks extends fall; down 15% in three trading sessions

Shares of Jubilant FoodWorks, which operates the Domino’s franchise, dipped 5% to Rs 1,155 on Wednesday, extending its 10% fall in the past two trading days, on concerns of rising employee expenses and higher base and more intense competition from food aggregators. Last week, India’s largest online food-ordering service, Swiggy, raised a mammoth $1 billion in fresh funding led by South African internet and media conglomerate Naspers. Swiggy plans to use the capital to grow its supply chain, apart from investing in new initiatives such as setting up cloud kitchens. Read more

 

10:22 AM

Mid, Small-cap indices decline 1.50% each; Nagarjuna Fertilizers jumps 18%

Surpassing the benchmarks, the mid and small-cap stocks fell more sharply in the morning deals on Wednesady. The S&P BSE MidCap index was trading around one and a half per cent lower at 14,954, with Indian Hotels (up nearly 2 per cent) being the top gainer and 3M India (down 6 per cent) the worst laggard. Cholamandalam Investment and Finance, Gruh Finance, 3M India and RBL Bank were among the major contributors to the index's fall. Read more