D-Street party continues; Sensex ends 610 pts higher at 52,154; banks rally

Topics MARKET WRAP | Markets | NSE

Stock market updates: Indian stock markets touched sky high on Monday as bulls rode on banking and financial counters even as bears took control over IT and metal stocks. Amid contained Covid-19 infections, Budget boost, and economic revival, frontline indices gained over 1 per cent today while midcap stocks outperformed their large-cap peers.

The headline S&P BSE Sensex closed above the 52,000-mark for the first time on gains of 610 points, or 1.18 per cent, at 52,154 levels. In the intra-day trade, the index hit a record high of 52,177.5 levels. Axis Bank (up 6 per cent) ended the day as top gainer on the index, followed by gains in ICICI Bank, Bajaj Finance, SBI, Bajaj Finserv, HDFC, IndusInd Bank, and HDFC Bank, all up between 2 per cent and 4 per cent. 

However, losses in TCS, Dr Reddy's Labs, Tech Mahindra, HUL, Asian Paints, and HCL Tech, all down up to 1.8 per cent, capped gains.

NSE's Nifty50, on the other hand, hit a record high of 15,327 levels in the intra-day trade before ending at 15,315-mark, up 151 points or 1 per cent. About 22 stocks declined on the index today, compared with 28 stocks that advanced. SBI Life, HDFC Life, TCS, Dr Reddy's Labs, Grasim, and Tech M were the top losers on the index.

In the broader market, the S&P BSE MidCap index closed around 1.4 per cent higher with up to 14 per cent gains in Cholamandalam Finance, Apollo Hospitals, Adani Transmissions, LIC Housing Finance, Adani Enterprises, and M&M Finance.

On the contrary, the S&P BSE SmallCap index closed 0.4 per cent higher.

On the sectoral front, the Nifty Bank index stole the show and hit a new peak of 37,309 levels, up 1,200 points in the intra-day trade. The index closed 1,197 points, or 3.3 per cent, higher at 37,306 levels. That apart, the Nifty Financial Services index and the Private Bank index ended nearly 3 per cent higher each. On the downside, the Nifty IT and Metal indices closed 0.4 per cent lower. 

Global markets
Global shares rose for the 11th day in a row to hit a fresh peak on optimism about the rollout of Covid-19 vaccines and new fiscal aid from Washington, while tensions in the Middle East drove oil to a 13-month high.

With China and Hong Kong markets closed for the Lunar New Year holiday, Japan's Nikkei led the way, climbing 1.9 per cent to reclaim the 30,000-point level for the first time in more than three decades.

In Europe, shares scaled one-year highs on Monday with the pan-European STOXX 600 up 0.7 per cent.
  
Oil joined equity markets in pushing higher, reaching its highest level since January 2020. Brent crude rose 1.6 per cent to $63.41 a barrel. US crude oil gained 2.1 per cent to $60.74.

In the cryptocurrency market, Bitcoin recovered some of its overnight weakness to trade down 2.3 per cent at $47,539.49, below a record high of $49,714.66.


LIVE UPDATES

MARKET CLOSING COMMENT :: Ajit Mishra, VP - Research, Religare Broking

Markets started the week on a robust note and made a new record high, largely led by firm global cues and encouraging domestic macro-economic data. The benchmark opened gap up and hovered in a range for most of the session however renewed buying in the last hour helped the index to close around the day’s high. Consequently, the Nifty index closed at 15,315 levels, up by 1%. A mixed trend continued on the sectoral front wherein banks and realty were the top gainers that supported the rally while FMCG, IT and consumer durables ended in the red.
 
Markets have resumed the trend after a week-long consolidation phase and we are now eyeing the 15,500 in Nifty. With no major events, participants should keep a close watch on global markets for cues. Also, maintain focus on the selection of stocks and avoid a contrarian approach.

MARKET CLOSING COMMENT :: Joseph Thomas, Head of Research at Emkay Wealth Management

The markets closed the day on a high note with the Sensex crossing the 52000 mark, with both Sensex and Nifty closing with a gain of more than 1%. What moved the markets was the Bank Nifty, which climbed by 3.65 % to 37425, a significant surge from the 31000-32000 levels where it was basing itself for a couple of weeks. Midcaps, small caps, realty and healthcare too participated in the rise today. Markets elsewhere , in the East  as well as early Europe, has been well supported by the fruition of large scale vaccination as also  expectations of larger economic stimulus in the US

MARKET CLOSING COMMENT :: Shrikant Chouhan, Executive VP, Equity Technical Research at Kotak Securities

The market has made a strong start to the week on the back of strong and positive domestic flows. The increase in the number of IIP and the easing of CPI inflation led to a recovery in financials. Bank Nifty rose by 1300 points, Finance Nifty rose by 900 points, Nifty 50 rose to 15340 levels and Sensex gained by more than 500 points throughout the day. It has proven to be the smartest rally after 4 days of aggregation. Based on the daily chart, Nifty / Sensex are moving towards 15500/52500 levels with minor resistance at 15360/52250 level and on the downside, 15270/51850 and 15100/51200 would be the big supports. Our strategy is to reduce weak long positions and we need to make partial profits in positions where there are abnormal gains. Along with financial, the focus should also be on auto stocks

TECH VIEW :: Nagaraj Shetti, Technical Research Analyst, HDFC Securities

After showing a range bound movement in the last four sessions, Nifty witnessed sharp upmove on Monday and closed the day higher by 151 points. After opening on an upside gap of around 107 points, Nifty shifted into a gradual upmove amidst a range movement for the whole session. Minor intraday dips in between was used as buy on dips opportunity. Today's opening upside gap remains unfilled.
 
A small positive candle was formed with gap up opening and with minor lower shadow. Technically, this pattern could indicate an upside breakout of the upper range of around 15255 levels. This pattern has negated a minor bearish implication created after a doji or high wave type candle pattern of Friday. This is positive indication.

Conclusion: The short term trend of Nifty continues to be positive. Today's upside breakout attempt of the range of 15255 could open more upside in the short term. The next upside levels to be watched around 15500 in the next few sessions. Immediate support is placed at 15200.

MARKET CLOSING COMMENT :: Deepak Jasani, Head of Research, HDFC Securities

Indian benchmark equity indices began the new trading week on a strong note on Feb 15 – up for the third consecutive day, driven by outperformance from private financials as well as PSU Banks. The Nifty opened gap up, later remained in a range and closed near the day’s high. At close, the NSE Nifty 50 index also gained 1% or 151.4 points to close at 15,314, another record high.
 
Volumes on the NSE were lower than the recent averages with non financials seeing lower participation. Among sectors, Bank, Realty, Auto were the main gainers while Metal, IT, Pharma were the main losers.

Nifty keeps rising with upgaps reflecting pent up buying partly driven by encouraging Q3 numbers. However selective buying in sectors means that the overall volumes are measured and advance decline ratio also is either flat or negative (like on Feb 15). The next resistance for the Nifty is 15470 while 15243 could provide support.

MARKET CLOSING COMMENT :: Vinod Nair, Head of Research at Geojit Financial Services

Optimistic global sentiment & improving corporate earnings are leading an uptrend in the market dictated by banking and realty stocks. Mild consolidation is noticed in Pharma & IT, but Mid-caps continue to beat the broad market. WPI inflation soared to 2.03% in January compared to 1.22% in December which is positive for the manufacturing sector showing upside in demand. Food inflation dipped cooling CPI to 4.06% in January from 4.59% in December 2020, moderation in inflation is in-line with the RBI views, positive for the domestic economy

MARKET CLOSING COMMENT :: S Ranganathan, Head of Research at LKP Securities

Bulls powered Indices to new highs as FPI flows till date in February far exceeded January flows. Buoyed by Q3 earnings and CPI inflation, the day witnessed a ferocious rally in Financials backed by positive global cues and return of the elusive  capex cycle

TECH VIEW :: Rohit Singre, senior technical analyst at LKP Securities

Index started a day with good gap and managed to hold the gains throughout the session and closed the day at 15314 with gains of one percent. Both the indices nifty & nifty bank has witnessed a fresh breakout in today’s session hints overall structure is still buying on the dip and we may see more upside in the near term if managed to hold above 14250 in nifty & 37000 in the nifty bank which is immediate & strong support on the downside
 

TECH VIEW :: Ashis Biswas, Head of Technical Research, CapitalVia Global Research

Market witnessed a positive trend today after a few days of the lackluster movement. The expected levels of the market are likely to be in the range of 15250 and 15470, and it’s going to be crucial for the short-term market scenario to sustain above the 15250 Nifty50 index level. The momentum indicators like RSI, MACD to support the upside move and indicating potential upside from the current market level.

SECTOR OF THE DAY :: Nifty Bank settles at record closing peak


Stocks that lifted Sensex today


S&P BSE MidCap index 1.4% higher


Sectoral trends on NSE at Close


Sensex Heatmap at Close


CLOSING BELL

The headline S&P BSE Sensex closed above the 52,000-mark for the first time on gains of 610 points, or 1.18 per cent, at 52,154 levels. 
 
NSE's Nifty50, on the other hand, hit a record high of 15,327 levels in the intra-day trade before ending at 15,315-mark, up 151 points or 1 per cent. 

EXPERT TAKE :: Jyoti Roy, DVP – Equity Strategist at Angel Broking on Sensex hitting 52,000

The Sensex has today hit new all time high levels of 52,000 driven by continued strong flows due to positive global cues. After record monthly inflows of over Rs. 60,000 in Nov and Dec 2020 flows slowed down somewhat in January to ~Rs. 19,500 crore. While we did see some profit booking in the second half of January the Union Budget 2020-21 turned the tide around for the market. So far we have already witnessed FII flows of over Rs. 20,000 crore in February which is helping drive the markets. We expect the flows to remain strong for now which should help propel the markets to new highs. However we expect the pace of the rally to moderate from here  on and some profit booking cannot be ruled out at higher levels.

BROKERAGE VIEW :: Geojit Financial Services on Apollo Tyres

CMP: Rs 239 | TP: Rs 289 | Reco: Buy

Apollo Tyres Limited manufactures tires and tubes for cars, trucks, farm equipment, and light commercial vehicles. The company markets its products with two global brands: Apollo and Vredestein in APMEA (Asia Pacific, Middle East and Africa) and Europe regions.

Topline expanded 14.2% YoY (+17.3% QoQ) in Q3FY21 on robust sales seen across domestic and abroad markets in both OEM & replacements.

EBITDA margin improved 760bps YoY to 19.9% due to high margin product mix and lower costs. Adj. PAT rose 158.5% YoY to Rs. 449 cr.

We expect growth momentum to continue with ongoing cost containment measures, focus on digitalization, capex conservation, strong recovery from replacement market in India and focus on premium products in Europe. Hence, we reiterate our BUY rating on the stock with a rolled forward TP of Rs. 289 based on 18x FY23E adj. EPS.

BSE Midcap index hits new high as financials, Adani group stocks rally

Adani Transmissions and Adani Enterprises from the Adani group companies rallied 13 per cent and 10 per cent, respectively. Cholamandalam Investment and Finance Company, LIC Housing Finance, Mahindra & Mahindra Financial Services, Shriram Transport Finance, PNB Housing Finance, Aditya Birla Capital, L&T Finance Holdings and IDFC First Bank from financials were up in the range of 5 per cent to 13 per cent on the BSE. READ MORE

TATA MOTORS IN FOCUS :: TaMo to roll out its first all-electric Land Rover model in 2024

>> In the next five years, Land Rover will welcome six pure electric variants as it continues to be the world leader of luxury SUVs

>> All Jaguar and Land Rover nameplates to be available in pure electric form by end of the decade

>>On a path towards double-digit EBIT margin and positive cash flow, with an ambition to achieve positive cash net-of-debt by 2025 with a value creation approach delivering quality and profitover-volume.

Click here to know Tata Motos' EV plans
 

Recovery in occupancy, footfalls drive growth for Apollo Hospitals

Covid-related patients accounted for a quarter of the occupied beds and 17 per cent of revenues. However given the steadily declining allocated beds to Covid, this could come down further unless there is a further spike in infections. A positive trend is the higher revenues at newer hospitals as compared to the mature hospitals led by higher occupancies and a better mix. The ramp up in new hospitals should add to revenues and margins going ahead for the hospitals segment. Sales of Apollo Health and Lifestyle (diagnostics, preventive healthcare) too saw a 6.4 per cent gain led by higher Covid-related testing. READ MORE

EXPERT TAKE :: Naveen Kulkarni, CIO at Axis Securities on Sensex hitting 52,000

The market rally has been very strong and India has multiple triggers which includes - Contained covid infections, Blockbuster budget and Economic revival. With this scenario as a backdrop, a higher beta portfolio will do well. BFSI should be the top sector in the portfolio, followed by discretionary, cyclicals and some allocation to industries. Also, digital is an evergreen theme and a significant allocation to the IT sector should be maintained. Overall, the market will continue to do well over the medium. Risks are now more global than local

ICICI Bank, HDFC twins top contributors to Sensex's gain today


Consumer, personal loans bolstered fintech lending in FY 2021: Report

SIDBI and Equifax launched the second edition of "Fintech Pulse", a quarterly publication highlighting key trends of the fast growing NBFC (Non- Banking Financial Company) Fintech segment.
 
"Fintech Pulse" aims to provide insights on trends in the Indian Fintech industry - from disbursements to delinquencies to top growing states and top loan categories. READ MORE

Top gainers on the BSE at this hour

Company PRICE(rs) CHG(%)
Mahindra CIE 197.90 17.87
Cholaman.Inv.&Fn 533.00 13.76
Adani Total Gas 427.90 11.84
Adani Transmissi 688.15 9.65
HEG 1268.50 9.54
» More on Top Gainers

NEWS FLASH :: IRCON International defers issue of bonus shares

Firm declared an interim dividend for FY 2020-21 at the rate of Rs 1.30 per share. The dividend will be paid on Wednesday the 3rd March 2021 onwards.
 
Bonus shares: The Board has deferred the agenda to its subsequent meeting. 
 

European markets check

(Source: Reuters)


RailTel IPO opens for subscription on Tuesday. Should you subscribe?

The three-day initial public offering (IPO) of the state-owned RailTel Corporation of India will open for subscription on Tuesday. The price band has been fixed at Rs 93-94 a share for the initial share-sale. The IPO is entirely an offer-for-sale through which the government will offload 87,153,369 equity shares, amounting to 27.16 per cent stake. At the upper end of the price band, the government would raise a little over Rs 819 crore. READ MORE

Nestle Q4 preview: PAT likely to grow 16-19% YoY; may announce dividend

A continued increase in in-home consumption and demand for packaged food along with festive season is likely to have driven the growth for fast-moving consumer goods (FMCG) maker Nestle India during the December 2020 quarter, according to analysts, who see a nearly 10-13 per cent growth in revenue on a yearly basis. However, on a sequential basis, the sales growth is likely to be flat or may dip marginally between 1-2 per cent, they believe. READ MORE

SECTOR WATCH :: Nifty IT index wipes off gains, slips into the red


Infosys, Wipro, TCS: How to trade frontline IT stocks in the current market

NIFTY IT: After the recent correction, the index is gradually rising. However, the resistance range of 27,000 to 26,500 has become the immediate hurdle. The next bigger upside is above this resistance, which the index seems to be attempting to conquer as the Relative Strength Index (RSI) is well positioned with a positive crossover. The support comes at 25,200 mark. READ MORE

IPO Update :: Neureca issue sails through on Day 1 of the bidding process

>> Issue subsribed over 3 times within 3 hours of the opening of issue

Motherson Sumi surges 23% in two days on strong earnings show in Q3

Shares of Motherson Sumi Systems hit a fresh 52-week high of Rs 221, up 12 per cent in the intra-day trade, on the BSE on Monday after the company reported its highest-ever quarterly revenue of Rs 17,923 crore, up by 15 per cent over the previous year quarter, in Q3FY21. The stock has surged 23 per cent in the past two trading days. Thus far in the month of February, the stock of the auto ancillary company has rallied 53 per cent, as compared to a 12.5 per cent surge in the S&P BSE Sensex. READ MORE

From Britannia to Nestle, consumer companies turn laggards on Street

The recent performance of the BSE FMCG index suggests equity investors are no more bullish about consumption growth in India. The index, which tracks the share prices of top consumer goods companies such as Hindustan Unilever, ITC, Nestle, Britannia, Dabur, Colgate Palmolive, and Tata Consumer, has become a laggard by a big margin. READ MORE

Lemon Tree, EIH: Good time to check into hotel stocks, say analysts

“There has been a sharp surge in demand, our on-ground checks reveal. That apart, the room costs have surged as more and more people are now willing to travel. On their part, hotels are in no mood of giving discounts / offers on room rent. This is something unheard of in the last few years. All this augurs well for the hotel sector. Among the lot, those with less debt and focus on domestic market should do well given the current overseas travel restrictions,” says A K Prabhakar, head of research at IDBI Capital. READ MORE

NEWS ALERT :: RBI announces special OMO simultaneous purchase & sale of Govt securities

>> OMO announced for Rs 10,000 cr on Feb 25.

Higher EV share, FY22 auto rebound to support Motherson Sumi's revenues

Led by an improved performance across key segments, Motherson Sumi returned to growth trajectory in the December quarter. After five consecutive quarters of year on year fall in revenues, the company posted a 15 per cent growth in consolidated revenues.
 
The company’s revenues which were a shade under Rs 18,000 crore are its highest ever in a quarter led by operations recovering to pre-Covid levels and India business reporting a 27 per cent growth. READ MORE

Amara Raja Batteries dips 8% on disappointing operational performance in Q3

Share of Amara Raja Batteries plunged 8 per cent to Rs 915 apiece in the intra-day trade on the BSE on Monday after the company reported disappointing operating performance with earnings before interest, taxes, depreciation, and amortization (EBITDA) margin declinig 200 basis points (bps) quarter on quarter (QoQ) and 160 bps YoY to 15.6 per cent in December quarter (Q3FY21) due to higher staff cost. READ MORE

Street bullish on specialty chemicals industry amid robust domestic demand

With demand in India improving as businesses return to pre-Covid-19 levels, favourable government policies, and a huge export opportunity, experts say the Indian specialty chemicals industry is in a sweet spot to grow at a healthy double-digit rate over the medium term. “We expect the industry to grow on a compound annual rate of 12 per cent and reach $65 billion by FY25, from the current $32 billion,” said Mitesh Shah, research analyst, ICICI Securities READ MORE

NEWS ALERT :: January Wholesale Price Index-based inflation rises to 2.03% vs 1.22% in December

Tariff hikes by telcos set to ring in revenue growth in FY22: ICRA

ICRA said improvement in cash flow generation coupled with moderation in capex intensity will limit the dependence on incremental external borrowings for operations. However, the addition of adjusted gross revenue (AGR) liabilities to debt and the next round of spectrum auctions will act as a dampener. READ MORE

GLOBAL MARKET CHECK :: Japan's Nikkei closes above 30,000 for the first time since 1990

HDFC Bank can rise 25% from here to Rs 2,000 level in 6 months, charts show

HDFC Bank Limited (HDFCBANK): Following a breakout over Rs 1,500 levels, the counter is set to rise towards Rs 2,000 with a support of Rs 1,350 mark in the coming six months, as per the weekly chart. The Relative Strength Index (RSI) has entered the overbought condition; but the intermittent selling pressure has not been able to drag the counter lower. READ MORE

NEWS ALERT :: Govt may approve Russia's Sputnik-V by first week of March

>> Approval may be granted for Emergency Use Authorisaton for Covid-19 vaccine

(Source: Bloomberg)


India Inc's profit contribution to GDP likely to jump three times

India Inc’s contribution to gross domestic product (GDP) is predicted to nearly treble by FY23. The ratio in FY20 was the lowest in two decades, at just 1.8 per cent.
 
The long-term average of profit-to-GDP is about 4.4 per cent. The mean revision premised on the sharp recovery in corporate earnings for the next two financial years. “Aggregate consensus profit after tax of the top 360 stocks is expected to rise from Rs 4.6 trillion in FY20 to Rs 9.6 trillion (about 5 per cent of GDP) in FY23, at a CAGR of 27 per cent,” says a note by ICICI Securities. READ MORE

Bitcoin approaches $50,000, wider adoption build its record rally

Bitcoin hit a new record high and approached $50,000 on Sunday, building on its record rally as Wall Street and Main Street increasingly adopt the world's biggest cryptocurrency. Bitcoin recently stood at $48,700 on Sunday morning, up more than 3%. It had traded as high as $49,714 earlier in the day. The cryptocurrency is up almost 70% year to date. READ MORE

(Source: Reuters)

Q&A | Markets to remain strong on bottom-up opportunities, says Bernstein MD Garre

The equity markets will remain strong from the perspective of bottom-up opportunities. At the index level, however, while we expect single-digit returns from a point-to-point basis for the year, the first half of 2021 should overshoot the target. The growth focus of the Budget, however, makes a case for higher returns if the execution of the plan is done well by the government. That said, commodity prices -- including the future move in crude oil -- is a key aspect to watch.READ FULL INTERVIEW HERE
Venugopal Garre, managing director, Bernstein

BSE Realty index best sectoral gainer, jumps nearly 2%


Nomura, Morgan Stanley bet on these stocks as Nifty Bank hits new record

Banking and financial services' shares propelled markets to new record highs on Monday as index heavyweights such as ICICI Bank, and HDFC hit new peaks. The Nifty Bank index, which was the top performing index on the National Stock Exchange (NSE), jumped nearly 730 points, or 2 per cent, in the intra-day deals to hit a new 36,837 levels. READ MORE


HLE Glascoat locked in 20% upper circuit on healthy Q3 performance

Shares of HLE Glascoat, on Monday, were locked in 20 per cent upper circuit at Rs 1,670 on the BSE after the company reported 58 per cent year on year (YoY) growth in net profit at Rs 17.16 crore for the December quarter (Q3FY21), on the back of healthy operational performance. The company’s total revenue grew 23 per cent YoY at Rs 132.50 crore. The earnings before interest, taxes, depreciation, and amortization (EBITDA) jumped 44 per cent YoY at Rs 29.70 crore, while margins improved 903 basis points (bps) to 29.7 per cent from 20.67 per cent in a year ago quarter. READ MORE

Deepak Nitrite surges 12% on strong operational performance in Q3

Deepak Nitrite shares rallied 12 per cent intra-day on Monday and scaled a new high of Rs 1,240 on the BSE after the chemical intermediates company delivered a strong operational performance with consolidated earnings before interest, taxes, depreciation, and amortization (EBITDA) growing 25 per cent year on year (YoY) at Rs 340 crore in the December quarter. READ MORE

BUZZING STOCK :: Affle slips 3% after hitting 52-week high


Rupee opening

Rupee opens higher at 72.61/$ vs Friday's close of 72.75 against the US dollar

Clariant Chemicals zooms 19% on strong Q3 results, dividend of Rs 50/share

Shares of Clariant Chemicals (India), on Monday, soared 19 per cent to Rs 467 on the BSE in intra-day trade after the company’s board approved the payment of second interim dividend at Rs 50 per share i.e., 500 per cent for the financial year 2020-21. The company said the said interim dividend shall be paid on or after February 23, 2021. It has fixed February 2 as the record date for ascertaining the eligible shareholders to receive the dividend. READ MORE

Sector Watch :: Nifty Metal witnesses profit taking, slips into the red


Result Reaction :: Vodafone Idea slips 2% post December quarter numbers


IPO VIEW :: BP Wealth on Neureca's Rs 100 crore issue

Nureca is a consistent growing healthcare and wellness products distributor in India. On the valuation front, at the upper price band, the com-pany is valued at 63x P/E based on FY20 numbers considering the diluted equity shares. However, we feel the valuation is very stretched and the future growth sustainability remains a cause of concern for long term outlook. Considering all such factors, we give an “AVOID” rating on this IPO issue.

Most active stocks by volume

Company PRICE(rs) CHG(%)
Vodafone Idea 12.43 -0.88
Punjab Natl.Bank 39.60 2.06
Motherson Sumi 207.50 5.20
Bharat Electron 136.25 0.00
Suzlon Energy 6.09 0.00
» More on Most Active Volume

ALERT :: Nifty50 surpasses 15,300


SECTOR CHECK :: Nifty Bank hits a high of 36,800


ONGC declines 1% in a strong market

>> The firm reported over 67 per cent YoY fall in the December quarter net profit on the back of a drop in oil and gas prices. The company board, meanwhile, approved interim dividend of 35 per cent - Rs 1.75 on each equity share of Rs 5.


DHFL rallies over 4% despite a net loss in Q3

>> Dewan Housing Finance Corporation (DHFL), on Saturday, posted a consolidated net loss of Rs 13,095.38 crore in the third quarter ended December 2020 against a net profit of Rs 934.31 crore in the year ago quarter.


Bharti Airtel gains around 2% higher

>> The company, on Friday, said its board will meet on February 17 to discuss the future strategic plans and reorganisation of the shareholding framework of subsidiary companies.


Tata Motors trades higher on appointment of new MD and CEO

>> The company, on Friday, said it has appointed Marc Llistosella as its Chief Executive Officer and Managing Director. He is the former President and CEO of Fuso Truck and Bus Corporation and Head of Daimler Trucks in Asia.


ICICI Bank hits record high of Rs 658 apiece


Sectoral trends on NSE :: All indices trade higher


ALERT :: Sensex surpasses 52,000-mark


Sensex Heatmap :: Financials charge ahead


Opening Bell :: Nifty approaches 15,300


Opening Bell :: Sensex hits record high of 51,981


Top gainers and losers on S&P BSE Sensex at Pre-open


Markets at Pre-open


Markets at Pre-open


Stock picks by Sameet Chavan

NSE Scrip Code – MUTHOOTFIN
 
View – Bullish
 
Last Close – Rs. 1315
 
Justification – This gold financing giant has been one of the rank outperformers over the past few years. It is very rare to see any kind of significant correction in the counter and even if it happens, investors just pounce on it to add to their portfolios. After a smart V-shaped recovery from March fiasco, the stock prices went into a consolidation mode, and the range was very much confined. With last week’s smart rally, the daily chart now exhibits a ‘Range Breakout’ and since the move is accompanied by decent volumes, we expect the rally to extend in coming days. Traders are advised to buy on a decline towards 1,290 – 1,270 for a target of Rs1,445 in coming weeks. The stop loss can be placed at Rs.1,210. READ MORE

Two stocks that Vaishali Parekh of Prabhudas Lilladher is bullish on

BUY JUSTDIAL | CMP: Rs 674 | Rs Target: 750-780 | Stop Loss: Rs 620
 
The stock, after the recent correction, has bottomed out near 610 levels and has given a bullish candle pattern to improve the bias. We, therefore, anticipate further upside move. Currently with the RSI also well placed, the indicator has indicated a trend reversal to signal a buy. With the chart looking attractive, we suggest to buy and accumulate this stock for an upside target of Rs 750-780, keeping the stop loss of Rs 620. READ MORE

Stocks to watch: Vodafone Idea, Tata Motors, ONGC, DHFL, Airtel, Power Grid

Vodafone Idea: The debt-ridden telecom company reported narrowing of consolidated loss to Rs 4,532.1 crore in the third quarter ended on December 31, 2020, mainly on account of a one-time gain from stake sale in Indus Towers.
 
Tata Motors: The company, on Friday, said it has appointed Marc Llistosella as its Chief Executive Officer and Managing Director. He is the former President and CEO of Fuso Truck and Bus Corporation and Head of Daimler Trucks in Asia. READ MORE


 

Bulk deals on the BSE as on Friday

Bulk deals on the NSE as on Friday

FII/FPI & DII trading activity on NSE, BSE and MSEI


Rupee check

Source: Bloomberg


Oil rises on fears of heightened tensions in Middle East

Oil prices rose to their highest in more than a year on Monday, after a Saudi-led coalition fighting in Yemen said it intercepted an explosive-laden drone fired by the Iran-aligned Houthi group, raising fears of fresh Middle East tensions.
 
Hopes for more US stimulus and an easing of coronavirus lockdowns helped support the rally, after prices gained around 5% last week.
 
Brent crude was up 66 cents, or 1.1%, at $63.09 a barrel, after climbing to a session high of $63.44, the highest since Jan. 22, 2020.

(Source: Reuters)

SGX Nifty Update

>> At 8:38 am, the index was at 15,264 levels, up over 100 pts

Wall Street alert

US stock markets will be closed on Monday for the Presidents Day holiday. On Friday, the S&P 500 and Nasdaq set record closing highs. The Dow finished 0.1 per cent higher, the S&P 500 gained 0.5 per cent and the Nasdaq added 0.5 per cent.

Asian market check

MSCI’s broadest index of Asia-Pacific shares outside Japan jumped 0.4 per cent. Japan’s Nikkei climbed 1.2 per cent and Australia’s benchmark index was up 1 per cent.

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