MARKET WRAP: Sensex slips 97 pts, Nifty ends at 10,795; TCS falls over 2%

On a weekly basis, the S&P BSE Sensex rose 0.88 per cent, while Nifty50 rose 0.63 per cent.

3:37 PM

Top sectoral gainers and losers on NSE

3:37 PM

Top gainers and losers on S&P BSE Sensex

3:35 PM

Market at close

 

The S&P BSE Sensex lost 97 points or 0.27 per cent to end at 36,010 while NSE's Nifty50 index closed below 10,800 level at 10,795, down 27 points or 0.25 per cent.

3:16 PM

Caplin Point Lab hits 11-week high; stock surges 14%

Shares of Caplin Point Laboratories surged to its 11-week high price of Rs 430, up 14 per cent on the BSE on Friday. The stock was trading at its highest level since November 16, 2018.
 

The pharmaceutical company today announced that the meeting of board of directors of the company is scheduled to be held next Friday, January 18, 2019, to consider and approve the investment by a global financial investor with strong healthcare experience in the wholly-owned subsidiary company, Caplin Steriles. READ MORE

3:14 PM

Gold prices rise as Fed stance weakens dollar

Gold prices climbed on Friday as the dollar retreated on expectations the Federal Reserve may pause interest rate hikes if the US economy slows this year, while investors awaited news on progress in the Sino-US trade talks.

 

Spot gold rose 0.6 per cent to $1,294.01 per ounce, heading for a fourth straight weekly gain. The yellow metal is up 0.7 per cent so far this week.

 

US gold futures were up 0.5 per cent at $1,294.3 per ounce. READ MORE

3:03 PM

Equinor sets up office in New Delhi to support oil marketing, trading

 Norway's Equinor said on Friday it is setting up an office in India's capital New Delhi partly to support its oil marketing and trading activities. The company expects to appoint a country manager for the office soon, Equinor's spokesman said in an e-mail to Reuters. READ MORE

2:51 PM

NEWS ALERT UCO Bank to consider issuing of equity shares worth Rs 3,076 crores via preferential basis to Govt on January 17

2:50 PM

Web Exclusive Infosys to announce Q3 results today: Here's what analysts expect

IT major Infosys will release its financial results for third quarter of FY19 on Friday. While Q3 is seasonally weak for IT companies due to furloughs, healthy deal wins in H1FY19 and increasing contribution from the digital segment are expected to keep revenue growth steady for Infosys and other top IT vendors. Deal ramp ups are likely to support the company's growth.

 

Infosys, the country's second largest IT services company, will consider share buyback and a special dividend for shareholders as part of its capital allocation policy in the board meeting. Read more

2:45 PM

Oil set for weekly gain on trade talk optimism, OPEC-led supply cuts

 
Oil prices were on track for solid weekly gains on Friday after financial markets were lifted by hopes the United States and China may soon resolve their trade disputes, and as OPEC-led crude output cuts tightened supply. Despite this, markets were held in check by expectations of an economic slowdown in 2019.

 

International Brent crude futures were at $61.62 per barrel, down 6 cents, or 0.1 percent, from their last close. US West Texas Intermediate (WTI) crude futures were 4 cents above their last settlement, at $52.63 per barrel.

 

2:31 PM

NEWS ALERT| Bank Of India board approves issuing up to 10 crore new equity shares to employees at Rs 80 per share

2:27 PM

EARNINGS IMPACT

2:25 PM

Top losers on BSE500

COMPANY	PRICE( )	CHG( )	CHG(%)	VOLUME
APL APOLLO	1055.70	-43.65	-3.97	841
GREENPLY INDS.	138.00	-5.50	-3.83	4463
SREI INFRA. FIN.	34.45	-1.30	-3.64	175056
INTERGLOBE AVIAT	1057.70	-39.45	-3.60	24946
SOBHA	459.00	-16.85	-3.54	6807

2:18 PM

NEWS ALERT| Karnataka Bank Q3FY19: PAT at Rs 140 cr vs Rs 87.4 cr YoY

2:13 PM

Web Exclusive Nifty, Sensex set for 10% rally? Tech charts suggest so

The current market scenario indicates that soon benchmark indices Nifty50 and BSE Sensex will witness crossover of three moving averages (in a closer distance) - 50-day moving average (DMA), 100-DMA and 200-DMA on the daily chart. The same scenario has been witnessed four times in the entire history of both the indices. The said convergence indicates a strong rally of around 10 per cent as per the table mentioned below. Read more

2:05 PM

Market check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	35,863.16	-243.34	-0.67
S&P BSE SENSEX 50	11,246.83	-74.55	-0.66
S&P BSE SENSEX Next 50	32,525.44	-216.69	-0.66
S&P BSE 100	11,036.83	-73.20	-0.66
S&P BSE Bharat 22 Index	3,473.85	-11.71	-0.34

2:00 PM

Praj Industries rises 12% on expansion of bio-energy basket

Shares of Praj Industries moved higher by 12 per cent to Rs 154 on the BSE on Friday after the company announced a ground-breaking integrated demo plant of compressed bio gas (CBG). The stock was trading at its highest level since September 22, 2008. “The company unveiled its roadmap for commercialization of CBG technology and reaffirmed its readiness by way of required infrastructure to execute multiple CBG plants with advanced technology and designs. CBG is a complementary renewable transportation fuel to Compressed Natural Gas (CNG). Praj's CBG technology is a major step in that direction,” Praj Industries said in a press release on Thursday, January 10, 2019, after market hours. Read more

 

1:36 PM

Realty shares trade weak after status quo on GST rate

Shares of real estate companies were trading weak and falling up to 6 per cent on BSE in the intra-day deal on Friday after the goods and services tax (GST) Council on Thursday deferred a decision on a tax rejig for residential properties.
 

Ansal Properties & Infrastructure, Marathon Nextgen Realty, DB Realty, Purvankara, Housing Development & Infrastructure (HDIL) and Sobha were down in the range of 4 per cent to 6 per cent on the BSE. DLF, Oberoi Realty, Indiabulls Real Estate and Prestige Estates were down 1 per cent each. READ MORE

1:19 PM

SIPs lose steam in the December quarter; investors wait & watch

The growth of systematic investment plans, or SIPs, has been the slowest in the December quarter. An analysis of the data released by the Association of Mutual Funds in India (Amfi) shows the average SIP contribution in September-December grew at its slowest pace of 4.6 per cent on a quarterly basis. “One-year SIP returns have been negative, which may start weighing on SIP flows. READ MORE

1:07 PM

Devangshu Datta US could be a good international hedge

It has become easier to invest in overseas equities and bonds. The tax incidence isn’t bad, now that Indian equity holdings are also subject to long-term capital gains tax. Given that the next six months look uncertain for the Indian markets, should we be looking abroad to create a hedge against Nifty volatility? Here are some thoughts. Assume that, as a relatively uninformed investor, you would be passively tracking exchange-traded fund (ETFs) in whatever markets you follow. There isn’t much point in looking at other emerging markets (EMs) as hedges. Read more

12:45 PM

How the second-longest US government shutdown is affecting the economy

Parts of the federal government have been closed since midnight on Dec. 22, making it the second-longest shutdown on record. It’s also the third since President Donald Trump took office. READ MORE

12:31 PM

Top gainers and losers on S&P BSE Sensex

12:16 PM

Infosys trading flat ahead of Q3 results; Board may consider share buyback

Shares of Infosys were trading flat at Rs 677 apiece on BSE on Friday ahead of the board meeting today to consider the financial results for the third quarter of the financial year 2018-19 (FY19). The stock hit an intra-day high of Rs 685, after opening at Rs 684. It touched a low of Rs 676 so far. At 11:30 am, the S&P BSE Sensex was trading 54 points or 0.15 per cent lower at 36,052 levels. Read more

11:58 AM

Market check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	35,953.79	-152.71	-0.42
S&P BSE SENSEX 50	11,275.98	-45.40	-0.40
S&P BSE SENSEX Next 50	32,574.34	-167.79	-0.51
S&P BSE 100	11,063.72	-46.31	-0.42
S&P BSE Bharat 22 Index	3,482.39	-3.17	-0.09

11:44 AM

Web Exclusive TCS Q3 PAT at record high but EBIT margin misses estimates; should you buy?

Shares of Tata Consultancy Services (TCS) fell as much as 2.54 per cent in early trade on the BSE after the company's Q3 revenue and operating margins missed consensus estimates narrowly. The country’s largest information technology (IT) services company on Thursday reported its highest-ever net profit of Rs 8,105 crore in the seasonally weak third quarter (Q3) of 2018-19 (FY19). This is the first time that TCS’s net income has crossed the Rs 8,000 crore mark, a Business Standard report said.  Read more

11:23 AM

Top losers on BSE500

COMPANY	PRICE( )	CHG( )	CHG(%)	VOLUME
SOBHA	459.00	-16.85	-3.54	3775
GREENPLY INDS.	139.10	-4.40	-3.07	602
PERSISTENT SYS	548.30	-16.60	-2.94	7347
ASHOKA BUILDCON	129.20	-3.40	-2.56	1476
R C F	65.15	-1.65	-2.47	117300

11:10 AM

Indian rupee goes from Asia's best to worst performer in just two weeks

The turn of fortune for India’s rupee couldn’t be more rapid. It has gone from being Asia’s best performer to the worst in two weeks. A rebound in prices of oil, the nation’s top import, and concerns about an expensive bailout for farmers before general elections to be held by May has caused the rupee to miss out on a revival in emerging currencies. Funds are instead piling into the Indonesian rupiah and Chinese yuan on optimism over trade talks and signs of a Federal Reserve rate hike pause. Read more

11:03 AM

ITC hits 3-month high; stock gains 9% in one month

Shares of ITC hit a three-month high of Rs 295 apiece, up 2 per cent on the BSE in an otherwise range-bound market on Friday. The stock of fast moving consumer goods (FMCG) was trading at its highest level since October 4, 2018. In past one month, ITC outperformed the market by gaining 9 per cent, as compared to a 3 per cent rise in the S&P BSE Sensex. Read more

 

10:53 AM

Xiaomi's IPO flops, but a select few shareholders earn 56,823% profit

Xiaomi is a perfect example of how taking a company public can make a select number of shareholders a lot of money, even if the IPO flops. The stock lost about 30 per cent in the six months that followed its Hong Kong debut. For those who snapped up stock in Xiaomi’s earliest funding round, offloading the shares this week still proved hugely profitable. They paid as little as 1.95 Hong Kong cents for a slice between September 2010 and May 2011. Read more

 

10:39 AM

NIfty PSU Bank index declines

10:36 AM

COMMENT by Mustafa Nadeem, CEO, Epic Research on Q3 results of Infosys

Infosys is seeing a less volatile move as compared to its previous range since we are nearing the event. Yesterday, stock saw an inside day while the volatility also remains muted. The stock is in a very tight range of 665 - 690. Derivatives data suggest a range for the stock to be 700 to 640 and we expect this to be very crucial. Given its overall trend, and move beyond this range would give a directional view in the medium term. The trend is likely to emerge once the stock closes above 700.