Trader's diary: Stay with performers like private banks, auto and metal stocks
The quest for benchmark indices to hit fresh lifetime high got extended on Friday, as flaring up of Korea tensions hit investor sentiment. Yet the domestic market staged a smart recovery to settle flat.
1 New Update
06:36:44 PM IST, 15 September 2017
FOREX RESERVES TOP $400 BILLION FOR FIRST TIME EVER
The country's forex reserves surged by USD 2.604 billion to reach an all-time high of USD 400.726 billion in the week ended September 8 on account of rise in foreign currency assets, RBI data showed today.
06:10:09 PM IST, 15 September 2017
ICICI LOMBARD'S RS 5,700 CRORE IPO OFF TO A DECENT START
The Rs 5,700 crore initial public offer (IPO) of ICICI Lombard General Insurance Company, first by non-life private sector insurer, got subscribed 0.27 per cent on the first day of offer on Friday.
05:40:38 PM IST, 15 September 2017
India's forex reserves scale a new height, hit $400 billion level
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05:11:46 PM IST, 15 September 2017
Stock market in India opened the day on a tepid note in the wake of negative global cues. A late recovery pushed benchmark indices to finally close the day near the flat line. While the IT, auto, metals and media indices posted gains, the healthcare and FMCG indices traded with losses.
- Karthikraj Lakshmanan, Senior Fund Manager – Equities, BNP Paribas MF
05:05:34 PM IST, 15 September 2017
MARKET UPDATE
Biggest Gainers: BBTC, Naukri, VTL, Manpasand
Biggest losers: Zensartech, Gepil, JK Cement, Alembic
Most active: Grasim, Reliance, GDFC, Divi’s Labs
Biggest losers: Zensartech, Gepil, JK Cement, Alembic
Most active: Grasim, Reliance, GDFC, Divi’s Labs
04:45:11 PM IST, 15 September 2017
CAPACIT'E INFRAPROJECTS IPO SUBSCRIBED OVER 180 TIMES ON DAY 3
IPO of construction firm Capacit'e Infraprojects saw bumper demand as the issue got subscribed 181.89 times till 4.15 pm on the last day of the three-day bidding process on Friday. Capacit'e Infraprojects’ Rs 400 crore IPO received bids for 2,07,90,52,980 shares against the total issue size of 1,14,28,572 share
04:14:04 PM IST, 15 September 2017
The markets again rallied intraday to come in touching distance with all time highs, the initial gap down was largely attributed to Geo political tensions around North Korea. News of Aircel bankruptcy around closing again drove the markets slightly lower. We continue to hold a short term bearish and a long term bullish strategy on the markets. We would advise refraining from taking big bets on the long side right now.
- Nikhil Kamath, Co-founder & Head of Trading, Zerodha
04:02:21 PM IST, 15 September 2017
The news of another missile test by the North Korea led a feeble start but buying in select index majors pared losses completely in the middle. Global cues are currently dictating our market trend and it becomes difficult to trade in such scenario due to excessive volatility. We suggest preferring hedged positions and advise traders to stay with the performers like private banking, auto, metal and NBFC counters.
- Jayant Manglik, President, Retail Distribution, Religare Securities
03:34:23 PM IST, 15 September 2017
CLOSING BELL: SENSEX GAINS 31 PTS, NIFTY SETTLES FLAT
Sensex gains 31 pts, Nifty settles flat; Bombay Burmah soars 17%, Andhra Bank 11%.
03:22:25 PM IST, 15 September 2017
AIRCEL LIKELY TO FILE FOR BANKRUPTCY; RCOM CRACKS 7%
Shares of Reliance Communications cracked over 7 per cent amid reports RCom-Aircel merger was unlikely and that Aircel will file for bankruptcy under the Insolvency & Bankruptcy code. Following the report, several lenders to Aircel too came under pressure.
03:02:41 PM IST, 15 September 2017
IPO WATCH: ICICI LOMBARD SUBSCRIBED 8%
The initial public offer (IPO) of ICICI Lombard General Insurance Company, the largest non-life private sector insurer, was susbcribed 8 per cent by 3 pm on Day 1 of the bidding process. kicked off its mega Rs 5,700 crore on Friday. The company is offering 6,16,66,740 shares to public in Rs 651–Rs 661 per share price band.<br />
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02:56:55 PM IST, 15 September 2017
MIRC ELECTRONICS ZOOMS 36% IN TWO SESSIONS
Mirc Electronics galloped nearly 14 per cent to Rs 22.87 on BSE, with the stock extending previous sessions' surge triggered by the company announcing stellar Q1 results.
02:55:19 PM IST, 15 September 2017
DR REDDY'S DECLINES ON PATENT LAWSUITS
Dr Reddy's Laboratories dropped 1.8 to Rs 2,207.75 on BSE after report suggested that Indivior Plc., the UK drug firm has filed patent lawsuits against the company, Teva and Mylan.
02:24:27 PM IST, 15 September 2017
BITCOIN GOES ON A TAILSPIN, DIVES 50% IN INDIA IN JUST 13 DAYS
According to the data available with Zebpay, the value of the currency in India has declined from Rs 3,40,116 per unit on September 2 to hit a low of Rs 2,29,417 on September 15, indicating a fall of 48 per cent in less than two weeks.
02:05:59 PM IST, 15 September 2017
STERLING HITS 14-MONTH HIGH, HEADS FOR BEST WEEK IN 8 YEARS
Sterling recorded its best day against the dollar since April on Thursday, after the BoE warned it might raise interest rates for the first time in more than a decade in the "coming months".
01:57:09 PM IST, 15 September 2017
BHARATI DEFENCE, PSL JUMP UP TO 20%
Shares of Lypsa Gems & Jewellery (up 20 per cent), MIRC Electronics (up 20 per cent), Ador Welding (up 19.99 per cent) and Bharati Defence and Infrastructure (up 19.55 per cent) zoomed up to 20 per cent in Friday's's trade. Stocks such as PSL Limited (up 18.99 per cent), BSL Limited (up 17.61 per cent), Shekhawati Poly-Yarn (up 16.67 per cent), Graphite India (up 15.69 per cent) and BF Investment (up 15.65 per cent) surged over 15 per cent. Benchmark indices continued trading in the negative zone as selling in metal, pharma, oil & gas and bank stocks weighed on.
01:21:45 PM IST, 15 September 2017
CYRUS INVESTMENTS TO OPPOSE TATA SONS PLAN
In a major development, investment firms of the Shapoorji Pallonji family Cyrus Investments in a letter opposed Tata Sons proposal to become a private company. Tata Sons wishes to amend its memorandum of association and articles of association to convert itself from a public limited company to a private limited one, a media reported suggested. Tata Sons will be seeking shareholders nod for the same at Annual General meeting (AGM) on September 21 and, according to reports, Cyrus Investments would be opposing to the proposal.
12:47:52 PM IST, 15 September 2017
RELIGARE ENT CRACKS 3% AS NCTL REFUSES TO STAY BOARD RESOLUTION
NCLT refuses to stay Religare Enterprises' board resolution of September 11, seeks responses from Singh Bros in four weeks; NCTL Delhi to hear case on November 7.
12:35:15 PM IST, 15 September 2017
DEBT-TO-NET WORTH 2-8 TIMES BUT STOCKS UP 1,300%!
As many as 14 such stocks have rallied up to 1,250 per cent this calendar. These stocks have debt levels equalling two-to-eight times their net worth, which means what they owe to their lenders is more than double their worth.
12:15:13 PM IST, 15 September 2017
ASIAN CURRENCIES GAIN ON DOLLAR SLIDE
Most emerging Asian currencies strengthened on Friday as the dollar lost ground against a basket of major currencies after North Korea fired another missile over Japan into the Pacific Ocean. The latest missile launch further stewed tensions after Pyongyang's recent test of its most powerful nuclear bomb.
11:58:07 AM IST, 15 September 2017
WHO'LL REPLACE WARREN BUFFETT AT BERKSHIRE?
Who will succeed Warren Buffett as chief executive officer of Berkshire Hathaway Inc.? It’s one of the most guarded secrets in the business world. That didn’t stop JPMorgan Chase & Co.’s new Berkshire analyst from placing odds on one man.
11:56:21 AM IST, 15 September 2017
SECOND LEVEL THINKING & INVESTMENT DECISIONS
What's the difference between 'ordinary' and 'extraordinary', or what's that separates a 'leader' from a 'follower'? - It's the Second-Level Thinking, a rudimentary credence that's applicable universally, including stock market investing.
11:54:32 AM IST, 15 September 2017
WHAT MFs BOUGHT IN AUGUST
In August, leading fund managers adopted theme-centric approach in adding fresh stocks in their portfolios. These themes are quite diverse and are likely to play out in the next two to five years, which shows that these fund managers are interested in long-term structural stories.
11:44:22 AM IST, 15 September 2017
NIFTY PHARMA TOP SECTORAL LOSER
Nifty Pharma index emerged as the top loser among sectoral indices during the initial hours of trade on Friday. At 11.05 hours (IST), the Nifty Pharma was trading 1.13 per cent down at 9,275, with shares of Cadila Healthcare (down 1.80 per cent), Sun Pharmaceutical Industries (down 1.45 per cent), Piramal Enterprises (down 1.40 per cent), Glenmark Pharmaceuticals (down 1.17 per cent), Dr. Reddy's Laboratories (down 1.15 per cent) and Cipla (down 1.15 per cent) as top losers.
11:43:37 AM IST, 15 September 2017
BITCOIN PLUNGES 45% IN SEPTEMBER
Bitcoin has just undergone through one of its toughest phases in 2017 as the digital currency has plunged over 45 per cent in September. According to the data available with Zebpay, the value of currency decline from Rs 3,40,116 per bitcoin on September 2 to a low of Rs 2,29,417 on September 15, indicating a downfall of 48 per cent during the same period. Bitcoins are created and held electronically, also described as virtual currencies.
11:24:10 AM IST, 15 September 2017
BHEL, VEDANTA AMONG TOP ACTIVE STOCKS
Shares of Bharat Heavy Electricals (BHEL) (number of shares traded: 0.39 crore), Divi's Lab (0.23 crore) and Vedanta (0.16 crore) were trading as the most active stocks in terms of volume on NSE in Friday's early trade. Oil and Natural Gas Corporation (0.15 crore), Tata Motors (0.14 crore), Kotak Bank (0.12 crore), Bharti Infratel (0.11 crore), Bank of Baroda (0.11 crore), State Bank of India (0.11 crore), ICICI Bank (0.10 crore), Coal India (0.10 crore) and Punjab National Bank (0.09 crore) were also in the league.
11:23:03 AM IST, 15 September 2017
INDIA VIX SPIKES 4% ON GLOBAL CONCERNS
India Vix spiked 4% in Friday's trade after six days of consecutive fall. At 11.22 am, the index was trading at 11.9575, up 4.25 per cent amid weakness across Asian markets on North Korean missile test.
11:20:55 AM IST, 15 September 2017
ADVANCE DECLINE RATIO SIGNALS WEAKNESS; IT STOCKS BUCK TREND
Only IT index in the positive; Pharma, capital goods, auto indices the drag market.
10:36:40 AM IST, 15 September 2017
GOLD, SILVER FLAT DESPITE KOREAN TENSIONS
Gold and silver were trading flat in morning trade on Friday on account of lacklustre demand of precious metals by jewellers, industries and retailers. The flaring up of tensions in Korean peninsula could not generate safe haven buying on the counters. MCX Gold was 0.06 per cent down at Rs 29992 around 10.25 am (IST), while MCX Silver was down 0.04 per cent at Rs 41,122 per 1 kg.
10:33:00 AM IST, 15 September 2017
UJAAS ENERGY RALLIES 10% ON ORDER WIN
Shares of Ujaas Energy surged as much as 10 per cent after the company announced that it has won various contracts. The scrip was trading 7.60 per cent up at Rs 26.20 around 10 am (IST). Shares of the company opened at Rs 25.80 and touched a high and low of Rs 26.80 and Rs 25.45, respectively, in trade so far. Benchmark BSE Sensex was down 34.90 points, or 0.11 per cent, at 32,207 at around the same time.
10:15:00 AM IST, 15 September 2017
INDIABULLS VENTURES FALLS 3% EVEN AS CLSA INITIATES COVERAGE
Shares of Indiabulls Ventures fell 3 per cent in Friday's session even as foreign brokerage CLSA initiated investment in the consumer finance company in its Asia ex-Japan long-only portfolio with a weightage of three percentage points. The Hong Kong-headquartered firm's chief equity strategist Christopher Wood in his widely followed newsletter Greed & Fear said on Thursday .
10:07:57 AM IST, 15 September 2017
RUPEE ADVANCES 3 PAISE AGAINST DOLLAR
The rupee on Friday opened 3 paise down at 64.15 against dollar on account of buying in American currency by banks and importers amid persistent foreign capital outflows. The local currency on Thursday settled 12 paise down at 64.12 against dollar.
10:05:38 AM IST, 15 September 2017
ASAHI INDIA CLIMBS 4% ON STAKE BUYOUT TALKS
Shares of Asahi India Glass jumped nearly 4 per cent in Friday's trade on reports Japan's Asahi Glass that owns a little over 22 per cent of Asahi India Glass is in advanced discussions to buy out partner Sanjay Labroo as part of a plan to take control of the JV. Labroo and his family also own an equal 22.21 per cent in the venture. Following the report, the stock rose 3.58 per cent to hit a high of Rs 419 on BSE
09:54:37 AM IST, 15 September 2017
MAX FINANCIAL SURGES 5% ON BLOCK DEALS
Shares of Max Financial Services surged as much as 4.88 per cent in early trade amid reports that 2.3 per cent of equity exchanged hands in two block deals at Rs 602-602.50 per share on BSE. The scrip was trading 3.21 per cent up at Rs 618.85 around 9.30 am (IST). Shares of the company opened at Rs 599.95 and touched a high and low of Rs 628.90 and Rs 599, respectively, in trade so far. Benchmark BSE Sensex was almost flat at 32241.68, down 0.25 points against the previous close.
09:42:10 AM IST, 15 September 2017
TATA TELE SLUMPS 9% AS GROUP MULLS WINDING DOWN OF BIZ
Shares of Tata Tele (Maharashtra) tumbled 9 per cent in Friday's trade after Tata Group chairman N Chandrasekaran said he is evaluating the option of winding down the mobile services business, after attempts to sell the beleaguered unit failed. If the group goes ahead with its plan, it will be the first major Tata unit to be closed down in its 149-year-old history. Following the report, the stock fell 8.76 per cent to hit a low of Rs 6.14 on BSE.
09:18:01 AM IST, 15 September 2017
OPENING BELL: SENSEX DROPS OVER 50 PTS
Sensex drops over 50 points, Nifty50 tests 10,050 on Korean missile test; BHEL, Shree Cement shed 3% each. Read more
09:03:50 AM IST, 15 September 2017
PRE-OPEN SESSION: SENSEX FLAT, NIFTY BELOW 10,050
Pre-open session: Sensex up 50 points, retreats; Nifty50 below 10,050 on geopolitical concerns; rupee trades at 64.15 against US dollar.
08:17:15 AM IST, 15 September 2017
SIGNAL FROM SINGAPORE
SGX Nifty was down 59 points, or 0.59 per cent, at 10,065, indicating a negative start for NSE Nifty index
08:16:42 AM IST, 15 September 2017
NIFTY TECHNICAL CHARTS
The Nifty50 on Thursday could not make a all-time life high and gave up most of the gains towards the end as investors turn indecisive at higher levels. This was reflected in a 'Spinning Top' pattern the index made on the daily charts. Besides, the index made Inside Bar. An Inside Bar is formed when the index trades within a range of high and low of the previous session, reflecting the ongoing consolidation in the market. That said, the index has been making higher lows for four ses ..
08:16:14 AM IST, 15 September 2017
ASIAN SHARES TEPID
In signs that markets are showing signs of becoming conditioned to actions from North Korea, equities in Tokyo traded sideways on Friday morning after North Korea launched another missile over Japan on Friday morning. South Korea’s Kospi index declined 0.5 per cent, while Australia’s S&P/ASX 200 Index fell 0.4 per cent. Hong Kong’s Hang Seng Index contract was flat. Futures on the S&P 500 Index lost 0.2 per cent.
08:15:37 AM IST, 15 September 2017
NORTH KOREA TEST FIRES ANOTHER MISSILE
North Korea fired a missile that flew over Japan’s northern Hokkaido far out into the Pacific Ocean on Friday, South Korean and Japanese officials said, further ratcheting up tensions after Pyongyang’s recent test of its most powerful nuclear bomb, Reuters reported.
08:15:05 AM IST, 15 September 2017
ICICI LOMBARD IPO KICKS OFF TODAY
ICICI Lombard General Insurance on Thursday raised Rs 1,625 crore from anchor investors ahead of its initial share sale that opens on Friday. The leading insurer would allot shares to 64 anchor investors at Rs 661 apiece – the upper end of the IPO price band.<br />
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08:14:42 AM IST, 15 September 2017
WPI INFLATION AT 4-MONTH HIGH
Higher prices of food and fuel products drove inflation based on wholesale price index (WPI) to a four-month high of 3.24 per cent in August even as experts said the rise is in expected lines.
08:14:08 AM IST, 15 September 2017
7 SHORTLISTED FOR SEBI FULL TIME MEMBER POST
A committee headed by the Cabinet Secretary has shortlisted seven candidates for the post of full-time member on the board of the Securities and Exchange Board of India(Sebi). Earlier this month, S Raman retired from the post.
08:13:32 AM IST, 15 September 2017
US STOCKS SETTLED MIXED
The Dow Jones rose 0.2 per cent in overnight trade to end at 22,203, while the S&P500 index fell 0.11 per cent to 2,495. The Nasdaq Composite dropped 0.48 per cent to 6,429, hurt by a 0.86-per cent decline in Apple shares.
08:12:12 AM IST, 15 September 2017
SENSEX ON THURSDAY
Benchmark indices on Thursday could not make fresh highs in a session marked by profit book at higher levels amid tepid global cues. The BSE Sensex which was up 150-odd points in morning trade cut gains to settle at 32241.92, up 55.52 points, or 0.17 per cent.
08:06:51 AM IST, 15 September 2017
Good morning, dear reader! Here’s something to kickstart your trading day
