Stock Markets HIGHLIGHTS: Sensex ends 90 points down, Nifty over 30 points lower as auto stocks drag
Stock Markets Today HIGHLIGHTS: Indian equity markets ended the week on a negative note. The BSE Sensex closed at 61,663.48, down 87.12 points or 0.14 per cent. Meanwhile, the Nifty settled at 18,307.65, down by 36.25 points or 0.20 per cent. The Nifty Bank index closed at 42,437.45, down 20 points or 0.05 per cent.
Here are top highlights of the day's session:
1) Frontline indices Sensex and Nifty50 gave their third negative closing this week - two on the go. Sensex traded in 600-points range while Nifty traded in 370-points range.
2) In the 52-stock Nifty50, 14 stocks advanced while 35 declined and 1 stock remained unchanged. The top gainers were HCL Technologies, Hindustan Unilever, Asian Paints, SBI and Infosys while the top losers were Mahindra & Mahindra, Bajaj Auto, NTPC, Bajaj Finance and Indusind Bank.
3) Out of the 15 sectoral indices, 13 closed the session in the red against two gainers in Nifty PSU Bank (+1.53 per cent) and Nifty Realty (+0.10 per cent). The worst performers were Nifty Auto, Nifty Pharma and Nifty Healthcare Index which dropped 1.18, 0.67 and 0.65 per cent respectively.
4) Profit booking was seen even in the broader markets with Nifty Mid Cap 100 and Nifty Small Cap 100 indices closing with declines of 0.50 per cent.
5) India VIX, a measure of volatility in the Nifty was down 3.27 per cent from the Thursday closing to end at 14.39.
6) The rupee depreciated 6 paise to close at 81.70 (provisional) against the US dollar on Friday amid a lacklustre trend in domestic equities and firming crude oil prices. However, a weak dollar in the overseas market and fresh foreign capital inflows restricted the loss, forex traders said. At the interbank foreign exchange market, the local unit opened up at 81.59 and later erased all its early gains. During the session, it witnessed a high of 81.52 and a low of 81.78. The domestic unit finally settled at 81.70 against the American currency, registering a fall of 6 paise over its previous close of 81.64. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.28 per cent to 106.39. PTI
7) Global oil benchmark Brent crude futures rose 0.36 per cent to USD 90.10 per barrel.
8) The week also witnessed significant declines in commdities across the board from crude oil, base metals and bullion.
9) Singapore-based SGX Nifty futures were trading at 18,347.5, down 27.5 points or 0.15 per cent. Dow Futures were trading at 33,635.60, up 89.30 points or 0.27 per cent.
10) On BSE, out of 3,626 which traded, 1,461 stocks advanced, 2,037 declined while 128 remained unchanged. 119 stocks hit their 52-week highs while 74 hit their 52-week lows.
Catch all the Updates here!
Stock Markets Today HIGHLIGHTS: Indian equity markets ended the week on a negative note. The BSE Sensex closed at 61,663.48, down 87.12 points or 0.14 per cent. Meanwhile, the Nifty settled at 18,307.65, down by 36.25 points or 0.20 per cent. The Nifty Bank index closed at 42,437.45, down 20 points or 0.05 per cent.
Here are top highlights of the day's session:
1) Frontline indices Sensex and Nifty50 gave their third negative closing this week - two on the go. Sensex traded in 600-points range while Nifty traded in 370-points range.
2) In the 52-stock Nifty50, 14 stocks advanced while 35 declined and 1 stock remained unchanged. The top gainers were HCL Technologies, Hindustan Unilever, Asian Paints, SBI and Infosys while the top losers were Mahindra & Mahindra, Bajaj Auto, NTPC, Bajaj Finance and Indusind Bank.
3) Out of the 15 sectoral indices, 13 closed the session in the red against two gainers in Nifty PSU Bank (+1.53 per cent) and Nifty Realty (+0.10 per cent). The worst performers were Nifty Auto, Nifty Pharma and Nifty Healthcare Index which dropped 1.18, 0.67 and 0.65 per cent respectively.
4) Profit booking was seen even in the broader markets with Nifty Mid Cap 100 and Nifty Small Cap 100 indices closing with declines of 0.50 per cent.
5) India VIX, a measure of volatility in the Nifty was down 3.27 per cent from the Thursday closing to end at 14.39.
6) The rupee depreciated 6 paise to close at 81.70 (provisional) against the US dollar on Friday amid a lacklustre trend in domestic equities and firming crude oil prices. However, a weak dollar in the overseas market and fresh foreign capital inflows restricted the loss, forex traders said. At the interbank foreign exchange market, the local unit opened up at 81.59 and later erased all its early gains. During the session, it witnessed a high of 81.52 and a low of 81.78. The domestic unit finally settled at 81.70 against the American currency, registering a fall of 6 paise over its previous close of 81.64. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.28 per cent to 106.39. PTI
7) Global oil benchmark Brent crude futures rose 0.36 per cent to USD 90.10 per barrel.
8) The week also witnessed significant declines in commdities across the board from crude oil, base metals and bullion.
9) Singapore-based SGX Nifty futures were trading at 18,347.5, down 27.5 points or 0.15 per cent. Dow Futures were trading at 33,635.60, up 89.30 points or 0.27 per cent.
10) On BSE, out of 3,626 which traded, 1,461 stocks advanced, 2,037 declined while 128 remained unchanged. 119 stocks hit their 52-week highs while 74 hit their 52-week lows.
Catch all the Updates here!
Latest Updates
Market LIVE: Media stocks were in action on Wednesday
Source: NSE
This is all from the stock markets. I, Shivendra Kumar will be back with all the LIVE action on Monday when domestic markets resume trading. Till the, keep safe and have a great day!
Stock Markets Today
Source: MCX
Trading Strategy Today by Anuj Gupta of IIFL Securities : Gold, Silver, Nifty, Bank Nifty, USDINR, Copper, Crude Oil
BUY MCX GOLD December AT 52700 STOP LOSS 52450 TARGET 53200
BUY MCX SILVER December AT 60500 STOP LOSS 59800 TARGET 61500
Buy MCX CRUDEOIL December AT 6700 STOP LOSS 6550 TARGET 6900
Buy MCX COPPER dec AT 677 STOP LOSS 671 TARGET 687
Buy Usdinr at 81.50 Stop Loss 81.20 target 82.10
Buy Nifty at 18280 Stop Loss 18100 target 18560
Buy Bank Nifty at 42250 Stop Loss 41900 target 42900
(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
Stock Markets Live: Small Cap Index was relatively weak and there was sock specific action. In the 10 stock index, 42 stocks advance while 56 declined and two remained unchanged.
Maharashtra Bank, IIFL, IDBI and Aether were top gainers in this index while Deepka Fertiliser, Cyient and Mannapuram Finance were biggest losers.
Stock Markets LIVE Today: Broader Markets
Lacklustre trade in broader markets was seen around this time. The NIFTY Mid Cap 100 was trading 31,075.15 almost flat from the Thursday closing. Bank were trading strongly with Punjab National Bank, Union Bank taking lead. Policy Bazar and Bank of India shares were also among top gainers.
Stock Markets Today: Sensex Gainers and Losers and movement on charts
Source: BSE
Stock Market LIVE: Nifty top gainers and movement on charts
Source: NSE
Market Recap
Stock Markets Today LIVE UPDATES: US markets ended negatively on Thursday, recovering from day's lows. Dow 30 closed at 33,546.30, down 7.51 points or flat while S&P 500 closed at 3,946.56, down 12.23 points or 0.31 per cent. Nasdaq Composite ended at 11,145, down 38.70 per cent or 0.35 per cent. The late recovery was triggered by results from companies like Bed Bath and Beyond. The Wall Street was also looking at commentary from Fed on inflation and interest rates. St. Louis Fed President James Bullard on Thursday said that the policy rate was not yet in a zone that may be considered sufficiently restrictive indicating further rat hikes. He said that the hikes undertaken till now have not yielded the desired results.
Domestic stock markets ended in the red on Thursday amid profit booking. Nifty50 was trading at 18,343.90, down 65 points or 0.36 per cent while the 30-stock BSE Sensex was trading at 61,750.60, down by 230.12 points or 0.37 per cent. The top gainers were Tata Consumer Products, Adani Enterprises, Larsen & Toubro, Power Grid HDFC Life while the top losers were Apollo Hospitals, Tata Motors, Eicher Motors, Mahindra & Mahindra and Titan. Bank Nifty closed trading at 42,458.05, down by 77.25 points or 0.18 per cent.
Commodity Marktes are open now. Silver, copper crude oil futures trading positively on Friday's opening session.
Source: MCX
Stock Markets Today: Recommendations from top brokerages on ICICI Bank, SBI, Axis Bank, Indigo, Vedanta
-- Morgan Stanley on Axis Bank (CMP: 858)
Maintain Overweight, Target 1150
Loan Demand is holding up well
Bank expects sustained market share gains, particularly in high margins segments
Margin Expansion has upside leg over near term
Deposit cost should catch up starting in Q4FY23
No asset quality concerns as of Now
Asses that credit cost could remain at below cycle averages in near term
Reiterated that cost to assets will moderate to 2% by FY25
HSBC on Axis Bank (CMP: 858)
Maintain Buy, Target 1075
___________________________
CLSA on ICICI Bank (CMP: 920)
Maintain Buy, Target 1200
Ni margins outlook is +ve; broad based growth pickup
Growing faster in the banking business on a low base
NI Margins outlook is +ve in a rising Interest rate environment
Low branch additions but not holding back on operating exp
Pristine asset quality, 17% return on equity, remain top pick
HSBC On ICICI Bank (CMP: 920)
Maintain Buy, Target 1100
___________________________
Morgan Stanley on AU Small Finance Bank (CMP: 611)
Maintain Overweight, Target 875
Bank looks to pursue growth in a risk calibrated manner in Tight liquidity Environ
Asset quality remains benign & slippages from restructured book are broadly in line
Bank continues to Invest in various Initiatives
Bank expects operating leverage to play out over next 2-3 years
_____________________________________
HSBC on SBI (CMP: 599)
Maintain Buy, Target 710
________________________
HSBC on Kotak Mahindra Bank (CMP: 1951)
Maintain Hold, Target 2030
_______________________________
HSBC on Bank Of Baroda (CMP: 164)
Maintain Buy, Target raised to 194 from 184
______________________________________
Goldman Sachs on Sun Pharma (CMP: 1013)
Maintain Sell, Target 830
Expect growth momentum to continue
Specialty Rev led by market share gains & New product ramp up to aid growth
New Pdt Launches in India Biz & Improvement in Mr productivity to aid growth
Co expects R&D Costs to inch higher as patient enrolments for its clinical trials pick up
___________________________________________
Morgan Stanley on Apollo Tyres (CMP: 278)
Maintain Overweight, Target 329
European business continues to gain share
Growth in india has mainly been led by pricing as volumes are flat
Co aims to remain as the pricing leader
Stable pricing & declining commodity costs likely to provide margin tailwinds in Q3FY23
From current 7% levels, Mgmt targets 12-15% ROCE
________________________________________________________
Morgan Stanley on Indian Hotels (CMP: 316)
Maintain Overweight, Target 381
Demand Momentum remains stong
G20 summit in India & wedding season should support demand in Q3
Supply growth is likely to remain Slower than demand growth
Supply growth would support a revenue PAR Upcycle
Mgmt sees its upper midscale hotel brand, Ginger as next driver growth
________________________________________________
CLSA on Info Edge (CMP: 3908)
Maintain Underperform, Target cut to 4100 from 4425
(management meet takeaways)
Steady execution but normalisation in IT demand is a dampener
Demand undercurrents are strong in real-estate & education businesses,
However, these businesses remain in investment mode
_______________________________________________
Nomura on Exide Industries (CMP: 187)
Maintain Buy, Target Raised to 221 from 216
2Q results in line
Steady growth to continue; plans to invest Rs 6000cr in Lithium-ion plant
raise FY23F revenue est. by 10% to factor in higher 1HFY23 run rate
Valuations attractive at 15.1x FY25F core EPS
____________________________________________
Morgan Stanley on Indigo (CMP: 1749)
Maintain Overweight, Target 2749
Mgmt highlighted that yields in Q3FY23 to date are well above Q1 levels
Domestic traffic is back to pre covid levels
Mgmt believes that international travel will be next leg of growth
No change in the ASKM Outlook But Q3 will face cost impact
________________________________
Citi on Vedanta (CMP: 307)
Maintain Sell, Target raised to 235 from 215
________________________________________
Morgan Stanley on PB Fintech (CMP: 372)
Maintain Overweight, Target 620
(Asia Pacific Summit Feedback)
Co reiterated its profit guidance of Rs1000cr for F27 &
adjusted EBITDA break-even in 4QF23
Management highlighted a lesser-known point–its cash losses are already near zero
Co does not have plans to set up any other businesses or intl ops
____________________________________
JP Morgan On Paytm (CMP: 540)
Maintain Overweight, Target 1100
Devices, lending, indirect costs-troika driving profitability in FY24
Co remains focused on achieving its Sep’23 target of Adj Ebitda breakeven
High quality investments will continue as bigger goal is to start generating higher free cash flows
______________________________
Citi on Consumer Staples
Consumer staple companies reported an in line Q2
Consumption demand remained under pressure
A key trend across companies is the likely strategy to increase ad spends
FY23E consensus earnings EPS est were cut more than rev est
Companies prioetize growth over profitability
Remain Selective – Prefer HUL, Britannia and GCPL
(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
Stock Markets Today: Rupee Vs Dollar
With Brent oil prices falling to USD 90 per barrel and dollar index at 106.67 levels rupee is expected to open at 81.55 levels, Anil Kumar Bhansali, Head of Treasury at Finrex Treasury Advisors LLP said.
The rupee had fallen to 81.80 levels overnight in NDF after some hawkish comments on interest rates by FED speakers but soon recovered, Bhnsali said.
The Finrex Treasury expert expects a stronger opening in rupee against the USD i a range of 81.20 to 81.80 for the day. "Exporters can sell near to 81.80 if they get it and importers may buy the dips towards 81.20 if they are able to get it," he opined.
On Thursday, rupee had fallen to 81.65 levels on dollar demands from corporates but remained in a small range throughout the day.
(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
Anil Singhvi Strategy on Nifty, Bank Nifty: Key support and resistance levels
