MARKET WRAP: Sensex zooms 237 pts, Nifty holds 12,100; metals gain

Topics Markets | MARKET WRAP

Benchmark equities reversed losses of the previous two sessions and marched ahead Tuesday as investors comforted from the decline in the rate of newly reported cases of Coronavirus in China. Broad-based buying across sectors lifted the benchmark S&P BSE Sensex to 41,216 level, up 237 points or 0.58 per cent. NTPC, Maruti Suzuki, Power Grid, and IndusInd Bank, up in the range of 1.6 and 3 per cent, settled the day as the top gainers on the 30-share index. On the flipside, Nestle India, Bharti Airtel, M&M, and TCS were the top laggards.

On the NSE, the broader 50-share index managed to hold the 12,100-mark and closed at 12,108 level, up 76 points or 0.63 per cent.

In the intra-day deals, the Sensex and Nifty50 hit a high of 41,444.34 and 12,172.30 level, respectively.

On the sectoral front, only Nifty FMCG index slipped into the red at close, down 0.3 per cent. On the upside, Nifty Bank, Pharma, Metal, and Private Bank indices added 0.8 per cent each.

The broader market counters, however, underperformed today. The S&P BSE mid-cap index closed 0.35 per cent higher at 15,836 level, meanwhile the S&P BSE small-cap index slipped 0.19 per cent to close at 14,748 level.

GLOBAL MARKETS

European shares rose to a record high early Tuesday as a slowdown in the rate of new infections in the coronavirus outbreak provided some relief, although markets still worried over the wider global economic impact. The pan-European STOXX 600 index rose as much as 0.7 per cent to a record high of 427.46.

In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.9 per cent, with Shanghai blue chips ahead by 0.8 per cent.

Japan's Nikkei was closed for a holiday, although Nikkei futures traded 0.8 per cent firmer. Futures for the EUROSTOXX 50 rose 0.7 per cent and the FTSE 0.5 per cent.

 
In commodities, oil prices rose around 1 per cent on Tuesday. Brent crude rose 53 cents, nearly 1 per cent, to $53.80 a barrel, retreating from an intraday high of $54.16. US West Texas Intermediate was up 46 cents, about 1 per cent, at $50.18 a barrel.  

(With inputs from Reuters)

3:51 PM IST COMPANY PRICE(rs) 52 WK LOW CHG(%) BASF INDIA 903.00 885.05 -8.99 D B CORP 129.80 128.75 0.08 ENGINEERS INDIA 90.10 89.80 -1.96 GAYATRI PROJECTS 36.05 36.05 -4.88 GHCL 176.10 175.80 -0.25 » More on 52 Week Low

3:50 PM IST COMPANY PRICE(rs) CHG(%) VOLUME VODAFONE IDEA 4.82 -4.55 36825421 RELIANCE POWER 1.89 5.00 7986300 YES BANK 36.85 -1.99 5866992 SUZLON ENERGY 2.72 9.68 5861891 INDIABULLS HOUS. 341.85 5.85 3395885 » More on Most Active Volume

3:49 PM IST COMPANY PRICE(rs) 52 WK HIGH CHG(%) ADANI ENTERP. 244.60 248.50 0.00 ADITYA BIR. FAS. 272.95 275.50 5.39 AJANTA PHARMA 1354.95 1424.00 -2.76 ALEMBIC PHARMA 650.00 666.00 1.18 AU SMALL FINANCE 1154.00 1177.95 2.55 » More on 52 Week High

3:39 PM IST

3:38 PM IST

3:37 PM IST >> Broad-based buying across sectors lifted the benchmark S&P BSE Sensex to 41,216.14 level, up 236.52 points or 0.58 per cent. NTPC, Maruti Suzuki, Power Grid, and IndusInd Bank, up in the range of 1.6 and 3 per cent, settled the day as the top gainers on the 30-share index. On the flipside, Nestle India, Bharti Airtel, M&M, and TCS were the top laggards.   >> On the NSE, the broader 50-share index managed to hold the 12,100-mark and closed at 12,107.90 level, up 76.40 points or 0.64 per cent. 

3:30 PM IST Shares of Ruchi Soya Industries gained 10 per cent at Rs 34.55 on Tuesday to make it 12 straight sessions when the stock has hit the upper circuit. Since January 27, 2020 -- when it was re-listed on the stock exchanges after consolidation of equity shares of the company -- the edible oils company's stock price has appreciated by 105 per cent from the level of Rs 16.89 on the BSE. READ MORE

3:23 PM IST

3:23 PM IST

3:05 PM IST

3:00 PM IST

2:59 PM IST >> Net profit at Rs 434.8 crore >> Gross NPA at 11.33%  >> Provisions at Rs 1,045 crore

LIVE UPDATES

BSE500 stocks that hit 52-week low today

COMPANY PRICE(rs) 52 WK LOW CHG(%)
BASF INDIA 903.00 885.05 -8.99
D B CORP 129.80 128.75 0.08
ENGINEERS INDIA 90.10 89.80 -1.96
GAYATRI PROJECTS 36.05 36.05 -4.88
GHCL 176.10 175.80 -0.25
» More on 52 Week Low

Most active stocks by volume

COMPANY PRICE(rs) CHG(%) VOLUME
VODAFONE IDEA 4.82 -4.55 36825421
RELIANCE POWER 1.89 5.00 7986300
YES BANK 36.85 -1.99 5866992
SUZLON ENERGY 2.72 9.68 5861891
INDIABULLS HOUS. 341.85 5.85 3395885
» More on Most Active Volume

BSE500 stocks that hit 52-week high today

COMPANY PRICE(rs) 52 WK HIGH CHG(%)
ADANI ENTERP. 244.60 248.50 0.00
ADITYA BIR. FAS. 272.95 275.50 5.39
AJANTA PHARMA 1354.95 1424.00 -2.76
ALEMBIC PHARMA 650.00 666.00 1.18
AU SMALL FINANCE 1154.00 1177.95 2.55
» More on 52 Week High

Nifty snapshot at close


Sensex heatmap at close


Closing Bell

>> Broad-based buying across sectors lifted the benchmark S&P BSE Sensex to 41,216.14 level, up 236.52 points or 0.58 per cent. NTPC, Maruti Suzuki, Power Grid, and IndusInd Bank, up in the range of 1.6 and 3 per cent, settled the day as the top gainers on the 30-share index. On the flipside, Nestle India, Bharti Airtel, M&M, and TCS were the top laggards.
 
>> On the NSE, the broader 50-share index managed to hold the 12,100-mark and closed at 12,107.90 level, up 76.40 points or 0.64 per cent. 

Ruchi Soya locked in 10% upper circuit; stock zooms over 105% in 12 days

Shares of Ruchi Soya Industries gained 10 per cent at Rs 34.55 on Tuesday to make it 12 straight sessions when the stock has hit the upper circuit.
Since January 27, 2020 -- when it was re-listed on the stock exchanges after consolidation of equity shares of the company -- the edible oils company's stock price has appreciated by 105 per cent from the level of Rs 16.89 on the BSE. READ MORE

IRCTC near day's low, down over 5%


Chalet Hotels zooms 5%


NEWS ALERT | SEBI approval for SBI cards likely to come today: CNBC TV18


MARKET UPDATE:: Nifty off day's high, near 12,100 now


Earnings Alert | Syndicate Bank Q3

>> Net profit at Rs 434.8 crore

>> Gross NPA at 11.33% 

>> Provisions at Rs 1,045 crore


Delhi Assembly Election Result update

Index Contributors at this hour


Budget proposals on DDT, personal tax not to impact MF industry: Templeton

The proposed changes in Dividend Distribution Tax (DDT) and the new income tax system announced in the budget will not have any adverse impact on the mutual fund industry that showed resilience and maintained robust growth amid economic headwinds, a senior mutual fund official said. After the Union Budget was presented on February 1, there had been some apprehensions on the growth of MF sector in the coming days. READ MORE

Global Markets check

European shares rose to a record high early Tuesday as a slowdown in the rate of new infections in the coronavirus outbreak provided some relief, although markets still worried over the wider global economic impact. The pan-European STOXX 600 index rose as much as 0.7 per cent to a record high of 427.46.

Asian share markets followed Wall Street higher on Tuesday. Investors seemed to be hoping for the best and MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.9 per cent, with Shanghai blue chips ahead by 0.8 per cent.
 
Japan's Nikkei was closed for a holiday, although Nikkei futures traded 0.8 per cent firmer. Futures for the EUROSTOXX 50 rose 0.7 per cent and the FTSE 0.5 per cent.

In commodities, oil prices rose around 1 per cent on Tuesday in sympathy with a rally in equity markets but investors remained jittery over the Wuhan virus that has now killed over 1,000 in China.

Brent crude rose 53 cents, nearly 1 per cent, to $53.80 a barrel, retreating from an intraday high of $54.16. US West Texas Intermediate was up 46 cents, about 1 per cent, at $50.18 a barrel.

Delhi Assembly Election Result update

Source: Election Commission of India



GAIL (India) up 7% post December quarter results; analysts maintain 'buy'

The company’s profit before tax (PBT) witnessed quarter on quarter (QoQ) growth of 22 per cent at Rs 1,872 crore in Q3FY20. Net profit, meanwhile, jumped 18 per cent to Rs 1,251 crore from Rs 1,064 crore reported in Q2FY20. The company said rise in profit is mainly due to better physical performance, better margins in the gas marketing and liquid hydrocarbons (LHC) segment. READ MORE

Top losers on BSE at this hour


Metals prices outlook revised downward as China battles coronavirus

Prices of agricultural produce, metals, energy and industrial raw materials have fallen 5 per cent to 20 per cent in the last two weeks, as China is the world’s biggest consumer and producer of several commodities. Base metals and oil prices have been particularly hit. The Bloomberg Base metals index has dropped 10 per and Brent by 17 per cent since the outbreak began late last year. READ MORE

Gold Check


JSW Steel up 5%


RESULTS IMPACT:: Dredging Corporation of India climbs 4%


BROKERAGE RADAR :: HDFC Securities on Oberoi Realty

Reco: Neutral | CMP: Rs 525 | TP: Rs 573

With a muted residential pre-sales backdrop, ORL is utilizing surplus cash flows to build robust lease asset portfolio. Whilst in initial stages of construction and leasing, the rental potential of the ORL portfolio is expected to increase from Rs 3.3bn to Rs 15-18bn over next 3yrs. This shall then become REIT able and unlock value for shareholders. Residential projects sales velocity has been muted except for Borivali project, which is seeing strong demand due to lack of large gated project in the micro market. Mulund is seeing strong over supply with stressed projects being taken over by credible real estate players like L&T/Prestige Estate. ORL is building out affordable luxury product in Thane which shall augur well for volumes recovery/pre-sales velocity. We maintain NEU. Key risks (1) Approvals delays; (2) Continuation of weak underlying demand and (3) Delays in pre-lease tie up of under construction lease portfolio.

NEWS ALERT | Tata Global Beverages to be called Tata Consumer Products: BSE filing

>> Action follows Scheme of Arrangement for merger being effective from Feb 10


BSE500 stocks that hit 52-week high today

COMPANY PRICE(rs) 52 WK HIGH CHG(%)
ADANI ENTERP. 246.00 247.50 0.57
ADITYA BIR. FAS. 273.05 275.50 5.42
AJANTA PHARMA 1382.20 1403.95 -0.81
ALEMBIC PHARMA 646.20 666.00 0.58
AU SMALL FINANCE 1141.50 1177.95 1.44
» More on 52 Week High

GMM Pfaudler hits record high, rallies 52% in 14 days post Q3 results

Shares of GMM Pfaudler rallied 13 per cent to hit an all-time high of Rs 3,285 on the BSE on Tuesday on the back of heavy volumes. The stock surpassed its previous high of Rs 3,048, touched on February 5, 2020. GMM Pfaudler is a leading supplier of process equipment to the pharmaceutical and chemical industry segments. READ MORE

Easier RBI asset quality norms puts banks at risk, mar transparency: Fitch

The Reserve Bank of India gave 12 more months for the one-time restructuring scheme for micro, small and medium-sized enterprises (MSMEs). Also it announced a relaxation in asset classification for certain real estate projects, marking a further dilution of the regulator's drive to enhance loan recognition, Fitch said. READ MORE

NEWS ALERT | 7 macro economic indications show there are green shots in Indian economy: FM in Lok Sabha

-- Global sentiment is in favour of India: FM

-- National infra pipeline will attract more FDI into India: FM

-- PMI is steadily improving: FM

-- Have had high macroeconomic stability in India: FM

NEWS ALERT | Marksans Phara receives EIR from US FDA for New York unit: BSE filing

>> Receives report wrt Company's manufacturing~ facility Time-Cap Laboratories Inc. located at Farmingdale, New York 

Alert: Inspection carried out between 5th and 18th December 2019.


Nifty sectoral indices at this hour


BROKERAGE RADAR :: Reliance Securities on Mahanagar Gas

We expect the APM gas prices likely will be revised downward by ~US$1/mmbtu from 1HFY21E onwards, while lower spot LNG prices will result in improvement in EBITDA/scm to Rs10 for FY21E (vs Rs 9.4 old assumption). We have revised our estimate for FY21E/FY22E in light of lower cost of gas. The stock has rallied 12% YTD, which is already factoring higher EBITDA/scm for FY21E. As it would be rather a challenge for MAHGL to sustain volume growth in the excess of 6%, we have maintained volume growth assumption at 3.5% for FY20/FY21E. Further, as the Company has not won any new GA, we do not envisage any incremental volume growth. Fall in run rate of vehicle conversion and worst car density in Mumbai (news) will lead to mere 3% CNG volume growth in FY19-FY22E. MAHGL is trading as a consumer play (FY20 P/E of 14x) despite its matured business profile.

Further, we expect MAHGL’s RoCE/RoE to fall from 28%/29% in FY20E to 23%/24% in FY22E, as it is unlikely to sustain consistent growth in EBITDA and PAT over the next 3 years (FY19- FY22E). We maintain our REDUCE recommendation on the stock with an upwardly revised DCF-based Target Price of Rs1,045 (From Rs 956 earlier).

BROKERAGE RADAR :: Reliance Securities on GAIL

We believe hiving off of the pipeline business will take more than a year, which would be the key overhang for the stock. We expect GAIL’s earnings to clock just 10% CAGR over the next 3 years. We expect the Company to witness a strong FCF generation of Rs115bn over FY20-FY22E. The stock provides high earnings visibility and healthy RoE/RoCE of 12%/13% over the next 3 years. At CMP, the stock trades at 6.1x of FY21E EBITDA, which is at discount to its long-term average of 7.4x (over the last 5 years). We maintain our BUY recommendation on the stock with a DCF- based Target Price of Rs154.

Delhi election result update: Party-wise vote-percentage, according to Election Commission


MARKET UPDATE:: Sensex off day's high


Maruti Suzuki at day's high, up over 2%


MARKET UPDATE:: Broader markets underperform


GAIL gains 5% post Q3 results


Wockhardt hits over 7-month high; stock zooms 63% in one month

Till 11:00 am, a combined 3.67 million shares, representing 3.3 per cent of total equity, of Wockhardt have changed hands on the NSE and BSE.
 
In the past one month, the stock of the pharmaceutical company has zoomed 63 per cent, as compared to a 0.58 per cent rise in the S&P BSE Sensex. READ MORE

Welspun Corp zooms 4%


NEWS ALERT | Strategic sale of SAIL's 3 units delayed: sources to CNBC TV18

>> Draft EoI for CONCOR under final stages

Avenue Supermarts, Bajaj Finance: QIP-related stocks outperform markets

Investors who subscribed to qualified institutional placement (QIP) issues have recorded a handsome return due to a run-up in market price of the stocks. A sharp recovery in equity markets has seen 9 out of 12 companies that raised money via the QIP route in past six months (since August 2019) outperforms the market by surging up to 34 per cent against their issue price. READ MORE

NEWS ALERT | Tax dispute settlement scheme may bring windfall gain of Rs 40,000 cr: sources to CNBC TV18

>> Corporates approach Tax dept to settle legacy disputes under 'Sabka Vishwas' scheme

>> Over 1.89 lakh taxpayers applied under the scheme 

>> Majority tax payers have committed to dispute settlement

Alert : Sabka Vishwas scheme was pitched during Budget 2020

        : Scheme for 1-time settlement of indirect tax dispute resolution

BUZZING STOCK:: Bajaj Finance hits fresh all-time high of Rs 4,779.20


Banks to get 5-year CRR relief for lending to auto, housing, MSMEs

In the monetary policy, however, the RBI said it would allow relaxations on this for loans given to the three productive sectors as they could have “multiplier effects to support growth impulses”.
 
Therefore, banks were told that they could carve out an amount equivalent to what they lent to these three sectors in the six months from their total deposit base, and go for five years without maintaining the CRR on that amount. READ MORE

MARKET CHECK:: Sensex holds gains


Tata Motors gains 3%


NEWS ALERT | JB Chem receives EIR from US FDA: BSE filing

>> Co received EIR for s newly set up and commissioned solid oral dosage forms formulations manufacturing facility at Panoli, Gujarat. 

>> The US FDA issues an EIR to the Company when an inspection is satisfactorily "closed"

Alert: The said inspection was carried out from 24th June to 28th June 2019

          EIR is Establishment Inspection Report

Delhi Assembly Election Result update


Coronavirus scare :: India orders checking of Chinese agri, livestock imports

India has ordered that agriculture and livestock shipments from China be checked for the deadly coronavirus that has led to more than 900 deaths and upwards of 40,000 cases in mainland China. "Commodity imports from China should be thoroughly checked, and samples should be tested in laboratories before according import clearance," stated a notification by the Directorate of Plant Protection, Quarantine, and Storage which was sent to importers, exporters and plant quarantine offices nationwide on February 5. READ MORE

Bajaj Consumer slides 9% on disappointing December quarter results

Shares of Bajaj Consumer Care tumbled 9 per cent to Rs 201 on the BSE on Tuesday after the company's standalone net profit in December 2019 quarter declined 16.66 per cent on year-on-year (YoY) basis to Rs 50.08 crore, due to lower operational revenue. It had posted a net profit of Rs 60.09 crore in the October-December quarter a year ago. READ MORE

Metal stocks recoup losses of previous sessions; index up over 1%


Sheela Foam hits 52-week high, up 12% as Q3 profit before tax jumps 52% YoY

The stock surpassed its previous 52-week high of Rs 1,639 touched on February 7, 2020. Besides, it is 4.5 per cent away from its all-time high of Rs 1,850 touched on November 29, 2017. In the past one month, the stock has outperformed the market by zooming 31 per cent, as against a 0.48 per cent decline in the S&P BSE Sensex. READ MORE

Sebi shortlists IBM, Infosys, Wipro, others for data analytics project

The move is part of Sebi's efforts to address and handle challenges arising out of technological advancements in the markets.
 
In November, the regulator had invited expression of interest (EoI) from "reputed and reliable solution providers for implementation of data analytics project and building of data models at Sebi". READ MORE

RBL Bank gains 4%


Delhi Assembly Election Result

Metal stocks trade higher


RESULT IMPACT:: Bajaj Consumer tumbles 7%


Phoenix Mills gains post Q3 results


Bandhan Bank trades 1% higher ahead of MSCI review tomorrow


Market check


Market check | Sensex jumps 400 pts


Result Impact | GAIL rises over 3%

>>  Reported a 22 per cent rise in its profit before tax at Rs 1,872 crore during the third quarter.
 
>> Its net profit saw a 25 per cent drop due to slump in margins on natural gas marketing, LPG and liquid hydrocarbons. 
 

Chalet Hotels firms up 3% post Q3 nos

>> Q3 profit jumps 126 percent to Rs 33.4 cr, revenue rises 12.4 percent to Rs 278.1 cr YoY.


NEWS ALERT | Cabinet nod for PSBs' merger soon: sources to CNBC TV18

>> Govt likely to propose April 1 as the effective date of merger


Capacite Infra trades in the green

>> Co received contract worth Rs 350.17 crore from Marquee Private Sector Client in Mumbai


Ramco System declines 2.5%

>> West Africa's 60-year-old Aviation Company, Aero Contractors Company of Nigeria Limited Goes Live with Ramco Aviation


Wipro gains on reports Co looking successor to Abidali Neemuchwala


ITC surges 2% amid reports co mulls cigarette price hike


STOCK ALERT :: 0.52% equity exchanged of Sobha


Sectoral trends at NSE during Opening trade


Top gainers and losers on S&P BSE Sensex during Opening trade


Early Trade


Early Trade | Sensex zooms 300 pts


NEWS ALERT | Morgan Stanley on MSCI Index review on Feb 12

>> MSCI could increase woight of HDFc Life by 15 bps

>> Weight could be halved for Shriram Transport

>> Weight of UltraTech Cement could go up by 17 bps

>> Bandhan Bank's weight may go up by 32 bps

(as reported by CNBC TV18)

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


Market at Pre-open


Market at Pre-open


Rupee opening

Rupee opens higher at 71.23/$ vs Monday's close of 71.30 against the US dollar

Britannia's Q3 far from crunchy, low consumer sentiment pull numbers down

Thanks to the deteriorated consumption sentiment, Britannia reported lower-than-expected revenue growth in the December 2019 quarter (third quarter, or Q3). Consolidated net sales rose by 3.8 per cent year-on-year (YoY) to Rs 2,936 crore, against Bloomberg consensus estimate of Rs 3,031 crore, with volume growth decelerating to around 2 per cent, from 3 per cent the previous quarter. READ MORE

Non-resident investors are staring at higher tax rates on dividends

Non-resident investors coming through the foreign direct investment (FDI) route and not availing treaty benefits are a worried lot as they stare at a higher tax outgo, with the withholding tax on dividends considerably higher than the applicable tax rates. Post amendment, Section 115A of the Income Tax Act provides that non-residents would be taxed on the dividend at 20 per cent, plus surcharge and cess. READ MORE

Wipro looking at external candidates for next CEO after Neemuchwala's exit

Information technology (IT) services major Wipro is learnt to be evaluating a few external candidates and at least two internal aspirants for its top post after incumbent Abidali Neemuchwala announced his exit late last month. According to sources in the know, some of external candidates being considered for the post of chief executive officer (CEO) include Bhaskar Ghosh of Accenture, Ritesh Idnani of Tech Mahindra (TechM), Ravi Kumar S of Infosys, and Nitin Rakesh of Mphasis, among others. READ MORE

Muted outlook, weak Dec quarter results to weigh on Bharat Forge stock

A muted outlook and weak December quarter results led to a 3.7 per cent fall in the stock of Bharat Forge. Sluggish demand across segments saw volume in terms of tonnage fall 30 per cent year-on-year (YoY). While weakness was evident in exports, the overall decline in revenues of 36 per cent was led by the domestic segment, which reported a 39.5 per cent fall. The company indicated that the demand scenario over the next couple of quarters will be soft. READ MORE

 

STOCKS TO WATCH

Financial, automobile, and realty stocks could trade actively today after the RBI on Monday notified that banks would not be required to maintain the cash reserve ratio for five years on their deposits for an amount equivalent to loans given to the MSME, housing and vehicles sectors between January 31 and July 31
 
Wipro: According to a Business Standard report, Information technology services major is learnt to be evaluating a few external candidates and at least two internal aspirants to replace Abidali Neemuchwala, who announced his exit late last month. 
 
ONGC, Indian Oil Corporation and NTPC were the top three profitable PSUs in 2018-19, whereas BSNL, Air India and MTNL incurred highest losses for a third consecutive year, according to a survey tabled in Parliament on Monday.
 
RESULT REACTION
 
Chalet Hotels: December quarter profit surges 126 per cent to Rs 33.4 crore, revenue rises 12.4 per cent to Rs 278.1 crore YoY.
 
Bombay Dyeing: Profit at Rs 162.4 cr, revenue dips 8.6 per cent to Rs 377.7 cr YoY.
 
Bajaj Consumer Care: Net profit declines 16.6 per cent at Rs 50.1 crore, revenue down 7.9 per cent at Rs 211.5 crore YoY

UltraTech relatively happy in comparison with ACC on the D-Street

ACC’s lower-than-expected performance for the December quarter led by a sharper-than-expected fall in realisations disappointed the Street, with its share price falling over three per cent on Monday. ACC’s results were announced after market hours on Friday. In contrast, over a fortnight back, UltraTech’s shares had gained 2.5 per cent after it posted a relatively better performance for the October-December period. Although UltraTech is far bigger in size, the two are comparable given their pan-India presence.  READ MORE

Banks to get 5-year CRR relief for lending to auto, housing, MSMEs

The Reserve Bank of India (RBI) on Monday said banks would not be required to maintain the cash reserve ratio (CRR) for five years on their deposits for an amount equivalent to loans given to the MSME (micro, small, and medium enterprises), housing and vehicles sectors between January 31 and July 31. Banks currently maintain 4 per cent on their deposits as CRR. READ MORE

Coronavirus impact: Experts see weakest quarter for global growth since GFC

With coronavirus getting a tighter grip on the China and impacting world trade, most analysts have started lowering global growth forecasts as measured by the gross domestic product (GDP) for the first quarter of calendar year 2020 (Q1-2020). Those at UBS, for instance, expect this would be the weakest quarter for global growth since the global financial crisis (GFC) and on par with the Asian crisis in the late 1990s. READ MORE

Delhi poll outcome at best may see a knee-jerk reaction in markets

Outcome of the Delhi Assembly polls due February 11 can at best trigger a knee-jerk reaction in the markets that can be used to buy for the long-term, say analysts. Though they caution that the benchmarks may remain choppy on the outcome day and are not yet discounting a loss for the Narendra Modi – led Bharatiya Janata Party (BJP), the bigger issue for the markets is now a pick-up in the economy, growth in corporate earnings and global cues. READ MORE

Nifty outlook and top trading ideas by Jay Anand Thakkar of Anand Rathi

NIFTY: BUY | TGT: 12,150 | SL: 11,950
 
Nifty closed in the negative territory in the last trading session, however, the fall seems to be corrective; hence, the dip should be utilized as a buying opportunity for the target of 12,150 with a stop loss of 11,950. READ MORE

Bulk deals on BSE as on Monday


Bulk deals on NSE as on Monday


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


Rupee Check

Source: Bloomberg


Oil Check

>> At 7:55 am, Brent Crude Futures were at $54.04 per barrel-mark, up 1.45 per cent

SGX Nifty

>> At 7:50 am, the Singaporean Exchange for Nifty Futures was at 12,084, up 42 points or 0.35 per cent.

Asian Market Check

Source: Reuters


US Market Check

Source: Reuters


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