MARKET WRAP: Indices rebound, Sensex ends 186 pts up; Nifty reclaims 10,900

The broader Nifty50 index of National Stock Exchange (NSE) reclaimed the crucial 10,900 level to settle at 10,910, up 48 points or 0.44 per cent.

3:37 PM

Sectoral gainers and losers of the day on NSE

3:35 PM

Gainers and losers on BSE Sensex

3:32 PM

Market at close

 

The S&P BSE Sensex ended at 36,255, up 186 points or 0.52 per cent, while the broader Nifty50 index settled at 10,910, up 48 points or 0.44 per cent.

3:19 PM

PSU banks extend gains; BoB, BoI, PNB hit 3-month highs

 

Bank of Baroda (up 3% at Rs 123), Bank of India (2% at Rs 106), Oriental Bank of Commerce (2% Rs 97.35), Punjab National Bank (2% at Rs 79.65) and Union Bank of India (2% at Rs 87.70) have hit their respective three-month highs today. READ MORE

2:58 PM

About 75% diversified equity schemes trail benchmark index: Study

Fund managers faced a tough time beating the benchmark in 2018, with nearly three in four diversified equity schemes underperforming their respective underlying indices. A study of 235 equity schemes that includes direct plans shows that 168, or 71 per cent, have underperformed their respective benchmarks, observed Value Research. Market observers have attributed this to large sums chasing too few stocks, and the impact of regulatory changes such as categorisation of schemes as well as the introduction of total returns index, in lieu of a simple price index. Read more

 

2:53 PM

Top gainers on BSE500

COMPANY	PRICE( )	CHG( )	CHG(%)	VOLUME
UCO BANK	22.30	2.05	10.12	823875
DENA BANK	17.95	0.85	4.97	422464
PRESTIGE ESTATES	229.60	10.25	4.67	36302
QUESS CORP	688.85	30.55	4.64	7760
JAI CORP	116.35	5.00	4.49	392005

2:45 PM

Geopolitical risks, Lok Sabha polls to keep markets edgy in 2019: Experts

Despite a bumpy ride, the Indian stock market held up rather well in 2018, compared to some of its global peers that slipped into bear territory. However, experts caution that the road ahead may not be smooth. The immediate trigger for volatility: the upcoming national elections, and the noise surrounding it. Sharp swings are likely if the final outcome veers too far off Street expectations. That said, there has been no visible change in market direction at the time of the last six general elections, say market observers, and this time may be no different. Click here to read full article

 

2:29 PM

Mahindra & Mahindra falls 4% on disappointing December sales

Shares of Mahindra & Mahindra (M&M) dipped 4 per cent to Rs 772 apiece, falling 5 per cent from intra-day high on BSE, after reporting disappointing sales numbers for December 2018 due to tight liquidity and low buying sentiment. The company said it has sold 17,404 units of tractors in December, down 6 per cent as compared to 18,488 units sold in the same month last year. Domestic tractor sales were down 2 per cent year-on-year (YoY) to 16,210 units, while exports sales almost halved to 894 units in the month of December against 1,633 units in the previous year. Read more

 

2:13 PM

Gateway Distriparks hits 52-week low after failing to pay Blackstone

Shares of Gateway Distriparks (GDL) hit a 52-week low of Rs 123 apiece, down 5% on BSE, after the company said it has failed to pay the balance payment to global private equity major Blackstone. “Due to un-contemplated events arising in the debt market, GDL could not raise the required funds before the due date of 28 December 2018 to make the balance payment of Rs 560 crore plus compensation at15% per annum from 28 September 2018 to 28 December 2018,” the company said in a regulatory filing. Read more

 

2:00 PM

Market check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	35,968.15	-100.18	-0.28
S&P BSE SENSEX 50	11,331.20	-36.23	-0.32
S&P BSE SENSEX Next 50	32,851.53	-143.68	-0.44
S&P BSE 100	11,123.63	-37.39	-0.34
S&P BSE Bharat 22 Index	3,489.96	-6.68	-0.19

1:49 PM

Mahindra’s auto sector sells 39,755 vehicles during December 2018

1:42 PM

HDFC Securities on Asset Management Companies

 

Lastly, despite 44.7% YTD decline in equity inflows from the cyclical highs of FY18 (net equity inflows of Rs 2.6tn,+154% YoY), SIP inflows have continued at an average monthly pace of Rs 76 billion. Recent market uncertainties (global and local) have hit stock prices. We believe CMPs provide attractive entry points for investors.

1:21 PM

Volume toppers on Sensex

1:04 PM

As many as 23 stocks hit 52-week low in today's trade

Symbol	Security	New 52W/L	Prev. Low	Prev. Low Date	LTP	Prev. Close	Chng	% Chng
ANGIND	ANG Industries Limited	1.25	1.25	28-Dec-2018	1.35	1.30	0.05	3.85
CALSOFT	California Software Company Limited	22.00	22.80	31-Dec-2018	22.85	22.80	0.05	0.22
CHROMATIC	Chromatic India Limited	0.95	0.95	31-Dec-2018	1.00	1.00	0.00	0.00
CURATECH	Cura Technologies Limited	1.25	1.30	31-Dec-2018	1.25	1.30	-0.05	-3.85
GEMINI	Gemini Communication Limited	0.15	0.15	31-Dec-2018	0.20	.20	0.00	0.00
HINDCOMPOS	Hindustan Composites Limited	287.00	294.00	31-Dec-2018	288.00	296.60	-8.60	-2.90

Clock here to view full list

(Source: NSE)

12:47 PM

Top gainers and losers on S&P BSE Sensex

12:37 PM

Elara Capital initiates coverage on Supreme Industries

 

We initiate coverage of Supreme Industries with a Buy rating and a 12-month target price of Rs 1,537, implying 29 per cent upside from the current levels. Our target price (TP) is based on 30x FY21E earnings per share (EPS) of Rs 51. Our one-year forward target multiple of 30x is at par with its five-year P/E median of 30x and at a 12 per cent discount to the company’s three-year P/E median of 34x. The stock currently trades at 31x FY19E P/E, 28x FY20E P/E and 23x FY21E P/E. In our view, a company with ex-cash ROCE of 24% (likely to reach 26.6% in FY21E), D/E of 0.1x (likely to reach 0.03x in FY21E) and a book value CAGR of 17% in the past five years and 21% in the past 10 years (likely a 19% CAGR by FY21E) trading at 23x FY21E P/E presents a good buying opportunity.

12:32 PM

Fractured mandate bigger risk than trade wars, oil prices in 2019: CEO poll

 

Political risks notwithstanding, 75 per cent of the CEOs polled said they would invest more in 2019. Capacity utilisation of the manufacturing sector crossed the 76.1 per cent mark in September 2018. READ MORE

12:21 PM

EXPERT COMMENT 

 

We believe investors need to display strong optimism as many negatives have been priced-in by the market and we are now trading at reasonable valuations provided the earnings growth trajectory for FY 19 and FY 20 pans out as per current consensus estimates, says Ajay Bodke, CEO & Chief Portfolio Manager PMS. 

12:13 PM

From ICICI Bank to Bajaj Finance, 10 stocks to beat the market in 2019

Indian equities were not a happy hunting ground for domestic investors in 2018 with most sectoral indices ending in the red while the benchmark indices delivered single-digit returns. Higher oil prices, a depreciating rupee, rising interest rates and a liquidity crisis for finance companies were some of the reasons. For 2019, there are uncertainties related to outcome of general elections, the direction of fund flows and global growth worries. Read more

 

12:00 PM

Market check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	35,973.22	-95.11	-0.26
S&P BSE SENSEX 50	11,337.01	-30.42	-0.27
S&P BSE SENSEX Next 50	32,986.19	-9.02	-0.03
S&P BSE 100	11,134.97	-26.05	-0.23
S&P BSE Bharat 22 Index	3,490.22	-6.42	-0.18

11:44 AM

Real estate shares in focus; DB Realty, Kolte-Patil Developers up over 10%

Shares of real estate companies were in focus with Nifty Realty index gaining more than 2 per cent in an otherwise subdued market. D B Realty and Kolte-Patil Developers have rallied 16% and 14%, respectively. Ganesh Housing Corporation and Ajmera Realty & Infra India were up 6% each. Prestige Estates Projects, Oberoi Realty, Godrej Properties, Unitech, Indiabulls Real Estate and DLF from the Nifty Realty index up in the range of 2% to 5%. Read more

11:29 AM

Varun Beverages up 15% in five days; stock nears record high

Shares of Varun Beverages (VBL) were trading higher for the fifth straight day on Tuesday. The stock was up 5 per cent at Rs 828 in an otherwise subdued market. The company is a key player in beverage industry and one of the largest franchisee of PepsiCo in the world (outside USA). In the last five trading days, the stock has outperformed the market by gaining 15 per cent, as compared to a one per cent rise in the S&P BSE Sensex. At the time of writing this report, it was 2.5% away from its all-time level of Rs 849 touched on September 21, 2018 on the BSE in intra-day trade. Read more

11:07 AM

Lessons from 2018: Don't be greedy, continue your SIPs to build a corpus

Investment consultant Arun Kejriwal has a complaint with stock market investors: “Most do not realise that there is an unlimited number of opportunities in the stock market. But the money they have is limited. And they have to maximise their returns with that limited amount.”

 

According to him, there was a strong buzz that the government might bite the bullet on capital gains tax in January itself. Most investors, especially in the mid-and small-cap space, were sitting on significant profits at that time. But they refused to sell, or lower their exposure. Click here to read more
 

 

10:57 AM

Top losers on BSE500

COMPANY	PRICE( )	CHG( )	CHG(%)	VOLUME
DHANUKA AGRITECH	452.90	-14.20	-3.04	533
FUTURE LIFESTYLE	413.50	-11.30	-2.66	1541
BLISS GVS PHARMA	162.40	-3.65	-2.20	92299
SHEELA FOAM	1453.05	-31.90	-2.15	21
GE T&D INDIA	288.00	-6.00	-2.04	1042

10:45 AM

JMC Projects rallies 19% in two days on order win worth Rs 596 crore

JMC Projects (India) rallied 11% to Rs 96.80 on Tuesday, thus surging 19% in the last two sessions after the construction and engineering company said it has secured new orders worth Rs 596 crore. Out of Rs 596 crore, Rs 434 crore has been assigned for residential and commercial projects in South India. The second order amounting to Rs 162 crore is for civil works for a steel plant in Orissa. Most of these new orders are repeat orders from the company’s existing clients. The company said it was confident of meeting its revenue and margin guidance for financial year 2018-19. Read more

 

10:27 AM

NEWS ALERT | Maruti Suzuki India Limited sold a total of 128,338 units in December 2018
 

10:23 AM

NEWS ALERT | Karnataka Bank hikes MCLR across tenures by 10-15 bps from today

10:22 AM

Atul Auto surges 11% following December sales figures

Shares of Atul Auto surged 11 per cent to Rs 322 apiece on the BSE in early morning trade after the company posted a strong 50 per cent growth in sales numbers for December 2018. The three- wheeler manufacturer sold 4,332 units in December against 2,890 units in the same month last year. The company’s total vehicle sales during December quarter grew 39 per cent at 13,808 units, as compared to 9,922 units sold in the previous year quarter. Read more

10:12 AM

Model Portfolio for 2019 by IIFL

9:58 AM

Market check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	35,951.18	-117.15	-0.32
S&P BSE SENSEX 50	11,331.96	-35.47	-0.31
S&P BSE SENSEX Next 50	32,968.48	-26.73	-0.08
S&P BSE 100	11,129.89	-31.13	-0.28
S&P BSE Bharat 22 Index	3,487.71	-8.93	-0.26