MARKET WRAP: Sensex slips 162 pts amid coronavirus scare; metals plunge

Topics Markets | MARKET WRAP

Tracking global peers, domestic stocks ended lower for the second consecutive day on Monday as uncertainties around coronavirus weighed on investor sentiment. The number of deaths from China's new virus epidemic jumped to 902 after the hardest-hit province of Hubei reported 91 new fatalities. READ MORE

 
The S&P BSE Sensex declined 162 points or 0.39 per cent to end at 40,980. During the session, the index witnessed 373-point swing. NSE's Nifty50 index ended at 12,031.50, down 67 points or 0.55 per cent.  

Metal stocks such as Tata Steel, Vedanta, SAIL, National Aluminium Company, (NALCO), and MOIL witnessed heavy selling after China’s metal association on Friday said  that the country's nonferrous metal output will fall at least 10 per cent YoY in February owing to coronavirus. Tata Steel also took a knock on poor Q3 numbers. The company posted loss of Rs 1,229 crore for December quarter. Shares of the company finally settled at Rs 444 apiece on the BSE, down around 6 per cent. 

On the upside, Avenue Supermarts pipped Bajaj Finserv in terms of market capitalisation (m-cap). The stock zoomed 11 per cent during the session to hit a fresh 52-week high of Rs 2,537 on the BSE. At close, the stock stood at Rs 2,484, up over 8.6 per cent while the m-cap was at Rs 1.5 trillion-mark. READ MORE

Volatility index India Vix climbed over 3 per cent to 14.18 levels. 

In the broader market, both mid and small-cap indices underperformed market. The S&P BSE MidCap index slipped around 0.8 per cent to settle at 15,781 while the S&P BSE SmallCap index lost 0.4 per cent to end at 14,776 levels. 

GLOBAL MARKETS

Global shares fell on Monday as the death toll from a coronavirus outbreak exceeded the SARS epidemic of two decades ago, though Chinese shares rose as authorities lifted some work and travel curbs, helping businesses to resume operations.

MSCI’s All Country World Index, which tracks shares across 47 countries, was down 0.2 per cent.

Shares in Asia registered a mixed performance.

MSCI’s broadest index of Asia-Pacific shares outside Japan reversed some of its early losses but was still down 0.4 per cent. Japan’s Nikkei was off 0.6 per cent, South Korea’s KOSPI was 0.5 per cent weaker while Australia’s benchmark index eased a shade. China’s indexes were the only ones in the black in Asia with the blue-chip index adding 0.5 per cent and Shanghai’s SSE Composite up 0.3 per cent.

In commodities, Brent crude futures eased 0.5 per cent to $54.22 a barrel while US crude futures fell 0.7 per cent to $49.97 a barrel. Since January 17, oil prices have fallen by 14 per cent while copper is down around 10 per cent.

(With inputs from Reuters) 

3:51 PM IST

3:50 PM IST

3:40 PM IST The S&P BSE Sensex slipped 162 points or 0.39 per cent to end at 40,980 while the NSE's Nifty50 ended at 12,031.50, down 67 points or 0.55 per cent.

3:17 PM IST

3:03 PM IST Ten-year bond yields have fallen 16 basis points (bps) since the Union Budget on February 1. And short-term bond yields such as three-year ones have fallen 25 bps since the Reserve Bank in its monetary policy on February 6 introduced long-term repo operations (LTROs) to give banks one and three year money at 5.15 per cent, against the prevailing market rate of nearly 6 per cent. READ MORE

2:55 PM IST

2:53 PM IST

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2:51 PM IST

2:39 PM IST Auto industry body Society of Indian Automobile Manufacturers (SIAM) said it will be collecting information and data from its members in the next couple of days to understand if there could be disruptions, and to what extent, if there are any.   "It is still slightly early to comment on it. The only thing I can say is that there are apprehensions and everybody is waiting to see as today is the day when China (market) is supposed to open up post their Chinese New Year holidays," SIAM Director General Rajesh Menon told reporters here. READ MORE

2:34 PM IST COMPANY NAME LATEST HIGH LOW CHG(%) ST BK OF INDIA 317.60 322.80 317.05 -0.90 PUNJAB NATL.BANK 57.10 58.85 57.00 -2.89 BANK OF BARODA 89.85 92.25 89.65 -2.39 I O B 10.45 10.60 9.05 7.40 UNION BANK (I) 47.90 49.00 47.70 -2.04 Click here for the full list

2:26 PM IST

LIVE UPDATES

SECTOR WATCH | All the sectoral indices on the NSE end in the red


MARKET AT CLOSE | Top losers and gainers on the S&P BSE Sensex


CLOSING BELL

The S&P BSE Sensex slipped 162 points or 0.39 per cent to end at 40,980 while the NSE's Nifty50 ended at 12,031.50, down 67 points or 0.55 per cent.

NEWS ALERT | Avenue Supermarts rallied 9% today, overtook Bajaj Finserv in m-cap



Riding high on RBI governor's assurance, bond market up for a long bull run

Ten-year bond yields have fallen 16 basis points (bps) since the Union Budget on February 1. And short-term bond yields such as three-year ones have fallen 25 bps since the Reserve Bank in its monetary policy on February 6 introduced long-term repo operations (LTROs) to give banks one and three year money at 5.15 per cent, against the prevailing market rate of nearly 6 per cent. READ MORE

MARKET CHECK


MARKET CHECK | Tata Steel extends decline, slips 6%


Nifty sectoral indices at this hour


Index Contributors at this hour


Coronavirus impact | Auto industry concerned over supply from China: SIAM

Auto industry body Society of Indian Automobile Manufacturers (SIAM) said it will be collecting information and data from its members in the next couple of days to understand if there could be disruptions, and to what extent, if there are any.
 
"It is still slightly early to comment on it. The only thing I can say is that there are apprehensions and everybody is waiting to see as today is the day when China (market) is supposed to open up post their Chinese New Year holidays," SIAM Director General Rajesh Menon told reporters here. READ MORE

SECTOR WATCH:: Public sector banks trade lower

COMPANY NAME LATEST HIGH LOW CHG(%)
ST BK OF INDIA 317.60 322.80 317.05 -0.90
PUNJAB NATL.BANK 57.10 58.85 57.00 -2.89
BANK OF BARODA 89.85 92.25 89.65 -2.39
I O B 10.45 10.60 9.05 7.40
UNION BANK (I) 47.90 49.00 47.70 -2.04
Click here for the full list

Heatmap: S&P BSE Sensex


Earnings Alert | GAIL Q3 result

>> Standalone net profit at Rs 1,250.6 crore

>> Revenue at Rs 17,769 crore

>> EBITDA at Rs 2,072.5 cr; margin at 11.7%


Global Markets check

Asian shares fell on Monday as the death toll from a coronavirus outbreak exceeded the SARS epidemic of two decades ago, though Chinese shares gained as authorities lifted some work and travel restrictions, helping businesses to resume operations.

In early European trades, the pan-region Euro Stoxx 50 futures, German DAX futures and FTSE futures all slipped 0.1 per cent while US stock futures were more upbeat with e-minis for S&P 500 adding 0.2 per cent.

MSCI’s broadest index of Asia-Pacific shares outside Japan reversed some of its early losses but was still down 0.4 per cent. Japan’s Nikkei was off 0.6 per cent, South Korea’s KOSPI was 0.5 per cent weaker while Australia’s benchmark index eased a shade.
 
China’s indexes were the only ones in the black in Asia with the blue-chip index adding 0.5 per cent and Shanghai’s SSE Composite up 0.3 per cent.

In commodities, Oil prices slipped lower on Monday as traders assessed China’s oil demand following the coronavirus outbreak and waited to see if major producers will cut output further to balance markets. Brent crude slipped to $53.63 a barrel in early Asian trade, the lowest since January 2, 2019, before recovering to $54.32 by 0804 GMT, down 15 cents. US West Texas Intermediate fell 17 cents to $50.15 a barrel after striking a low of $49.56.

Trent up for third straight day, surges 18% post December quarter results

Trent was trading higher for the third straight day, up 5 per cent on the BSE on Monday to hit a new high of Rs 697 in an otherwise weak market. The stock of the Tata Group company has rallied 18 per cent in the past three trading days after reporting 38 per cent year on year (YoY) growth in its standalone net profit at Rs 56 crore in December quarter (Q3FY20). Revenue from operations jumped 32.5 per cent to Rs 870 crore on YoY basis. READ MORE

Earnings Alert | Grasim Q3 result

>> Net profit at Rs 185 cr

>> Revenue at Rs 4,500 cr

>> EBITDA at Rs 414.5 cr; margin at 9.2%

BSE500 stocks that hit 52-week low today

COMPANY PRICE(rs) 52 WK LOW CHG(rs) CHG(%)
B H E L 38.25 38.15 -1.55 -3.89
GAYATRI PROJECTS 37.90 37.90 -1.95 -4.89
GHCL 176.65 176.65 -3.95 -2.19
HIMATSING. SEIDE 115.40 113.70 -9.10 -7.31
IFB INDS. 547.00 541.35 -39.70 -6.77
» More on 52 Week Low

NEWS ALERT | PNC Infratech declared lowest bidder by NHAI for project worth Rs 1,530 Cr

>> Project of 60.22 km long Four Laning of Jagdishpur-Faizabad section of NH 330-4 from km 47.g00 to 10g.020 in the state of Uttar Pradesh under Bharatmala Pariyojna


Earnings Alert | MRF Q3

>> Net profit at Rs 241.3 cr, down 17% YoY

>> Revenue at Rs 4,076 cr, down 0.5%

>> EBITDA at Rs 622 cr, up 9% YoY

NEWS ALERT | Bank Of Baroda cuts lending rates by 5-10 bps effective February 12


BROKERAGE RADAR | Emkay Global Financial Services on Insurance sector

We believe private insurance players are unlikely to see any significant shift in premium growth due to the recent announcements made in the Union Budget 2020 (tax savings sale dropping off under the new tax regime), given a diversified product suite and evolving distribution ecosystem. 

BROKERAGE RADAR | ICICI Securities on Inox Leisure

Inox continues to deliver industry leading growth across metrics. The box office also continues to surprise positively with healthy content performance. We remain positive on Inox with multiplexes poised for strong growth ahead. We maintain our BUY recommendation and roll over our valuations to FY22E at 9.5x EV/EBITDA – ex-Ind AS (~30% discount to PVR target multiple of 13.5x EV/EBITDA) to arrive at a revised target price of Rs 510/share.

NEWS ALERT | Lemon Tree signs Licence Agreement for a 51-room hotel in Nepal: BSE filing

>> the Company has signed a License Agreement for a 51 room upcoming Hotel at Nagarkot in Nepal 

>> The hotel is expected to open by early 2021

>> Carnation Hotels Private Limited, a subsidiary and the hotel management arm of the Company will be operating and marketing this Hotel. 

BROKERAGE RADAR | Edelweiss Securities on Tata Steel

Despite a challenging quarter, we are upbeat on deleveraging by focusing on working capital reduction. Going ahead, we expect performance to improve primarily aided by better realisation. Taking cognizance of Q3FY20 core operations, we are revising down FY21/22E EBITDA 3 per cent each, resulting in revised TP at Rs 570 (earlier Rs 590). At CMP, the stock is trading at 5.8x FY21E EBITDA. We maintain ‘BUY/SO’.

Avenue Supermarts' m-cap crosses Rs 1.5 trillion-mark, zooms 34% in 5 weeks

The stock has surpassed its previous high of Rs 2,361, recorded on February 6, 2020. That apart, Avenue Supermarts has outpaced the market by gaining 34 per cent in the past five weeks, and is decisively trading above its recent low of Rs 1,790 hit on January 1, 2020. In comparison, the S&P BSE Sensex was up 0.56 per cent during the same period. READ MORE

Rupee check


Bharat Forge slides 6% post Q3 results


BROKERAGE RADAR :: Anand Rathi Shares and Stock Brokers on Symphony

Reco: Buy | TP: rs 1,678 | CMP: Rs 1,360

Post-Q3 FY20 results, we have revised our estimates, and upgrade the stock to a Buy with a target of `1,678 at 35x FY22e EPS of Rs 48 (our earlier target based on FY21e EPS was Rs 996). We now model revenue and PAT clocking CAGRs over FY20-22 of 26% and 28% respectively, resulting in the RoCE expanding from 32% in FY20 to 39% in FY22. At the CMP Rs 1,360 stock trades 37x / 28x its revised EPS of Rs 37 & Rs 48. 

Key monitorables would be the coming hot summers which is the primary driver of air-coolers domestically and a turnaround in subsidiaries, now being overhauled by Symphony based on its requirements.

NEWS ALERT | Ashok Leyland arm bags order for 37 EV buses: BSE filing

>>  Ashok Leyland's subsidiary Optare PLC wins order

>> Partnering with Tower Transit Group in the launch of two new electric routes in London with the supply of 37 Metrodecker double deck EV

Alert: Tower Transit's order is the third major contract for the Metrodecker EV in just over a year.

Jan MF data | Net equity inflow up 70% at Rs 7,548 cr vs Rs 4,432.2 cr inflow (MoM)

-- Balanced fund outflow at Rs 1,260 cr vs Rs 2040 cr

-- Liquid fund inflow at Rs 59,682 cr

-- ETF inflow at Rs 1,873 cr

-- Total AUM at Rs 27.85 lakh cr

INOX Leisure soars 9% in two days in weak market on healthy Q3 results

Shares of multiplex chains INOX Leisure rallied 6 per cent to hit a new high of Rs 450 on the BSE on Monday. The stock extended its Friday's 3 per cent gain after the company reported blockbuster performance in December quarter (Q3FY20). In comparison, the S&P BSE Sensex was down 0.67 per cent or 276 points at 40,865 at 11:42 am. 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

Most active stocks by volume

COMPANY PRICE(rs) CHG(rs) CHG(%) VOLUME
RELIANCE POWER 1.80 0.02 1.12 17108445
VODAFONE IDEA 5.17 -0.02 -0.39 5693509
ICICI BANK 538.30 1.90 0.35 5234569
YES BANK 38.45 -0.25 -0.65 5011865
SUZLON ENERGY 2.33 0.04 1.75 1803787
» More on Most Active Volume

MARKET UPDATE:: Sensex pares some losses


Mahindra & Mahindra slips 5% on muted December quarter results

Shares of Mahindra & Mahindra (M&M) slipped 5 per cent to Rs 538 on the BSE on Monday after the automaker reported a 73 per cent year on year (YoY) drop in its consolidated net profit at Rs 380 crore in December quarter (Q3FY20). It had net profit of Rs 1,396 crore in the year-ago quarter. The stock was the top loser among S&P BSE Sensex index at 11:37 am. READ MORE

NEWS ALERT | Lot of things need to be done to get LIC IPO ready: LIC Chairman to CNBC TV18

-- Govt is only doing a partial divestment: LIC Chairman

-- Will have to do a valuation which is a big challenge: LIC Chairman 
 
 

RESULTS CORNER:: Motherson Sumi's Q3 revenue at Rs 15,739 crore as compared to Rs 16,534 cr in Q3FY19


Growth triggers should augur well for Tata Global stock: Analysts

The stock of Tata Global Beverages (TGBL) has gained about 32 per cent in the last three months, outperforming the Nifty FMCG index, which was down 5 per cent during the same period. Factors like the merger of Tata Chemicals’ consumer business, restructuring of international businesses in the past couple of years, and appointment of new MD and CEO are keeping investor interest high in TGBL. READ MORE

Reliance Industries slips 1%


Global investors will continue to invest in India, says Julius Baer CEO

With the Budget for FY21 presented and the Reserve Bank of India’s review of the Monetary Policy over, ASHISH GUMASHTA, chief executive officer, Julius Baer, tells Puneet Wadhwa that the markets' focus will return to fundamentals — the economy and earnings — as well as global cues, especially the coronavirus scare and its potential impact on global economies. READ MORE
Julius Baer CEO Ashish Gumashta

MARKET ALERT | BHEL, Parag Milk Foods, and 4 others from BSE500 hit 52-week lows


ACC, Tata Steel, Britannia: Trading strategies for stocks post Q3 results

ACC Ltd (ACC): The counter trades with a negative bias as it trades below 200-days moving average (DMA). However, it did have a strong support of Rs 1,374, which also is its 100-monthly moving average (MMA). The weekly chart shows a trendline resistance at Rs 1,645 levels. The overall outlook indicates selling pressure on the upside. The Moving Average Convergence Divergence (MACD) has broken the zero line downward, resulting in positive strength weakening. READ MORE

Alkem Labs hits record high, soars 8% on strong Q3 results, dividend bounty

Alkem Labs posted a 88.6 per cent YoY jump in its consolidated net profit at Rs 382 crore during the quarter under review on the back of healthy revenue growth and significant improvement in earnings before interest, tax, depreciation, and amortisation (Ebitda) margins. READ MORE

YES Bank rises 5% on shareholders' approval for fundraising plan

Shares of YES Bank gained 5 per cent to Rs 40.70 on the BSE on Monday in intra-day trade after the bank's shareholders cleared fund raising proposal of up to Rs 10,000 crore by issuing equity shares or convertible securities which would help enhance the private sector lender’s capital adequacy. The stock of private sector lender was trading higher for the fourth straight day. READ MORE

Whirlpool of India slides 5%


MARKET UPDATE:: Nifty below 12,000


Domestic passenger vehicle sales down 6.2% in Jan; car sales slide 8%: SIAM

Domestic passenger vehicle sales declined 6.2 per cent to 262,714 units in January from 280,091 units in the year-ago month, automobile industry body SIAM said on Monday. Car sales last month were also down 8.1 per cent at 1,64,793 units as against 1,79,324 units in the January last year, according to data released by the Society of Indian Automobile Manufacturers (SIAM). READ MORE

SECTOR CHECK:: Auto stocks under pressure

COMPANY LATEST(rs) CHG(%)
TATA MOTORS 169.95 -2.10
ASHOK LEYLAND 83.95 0.24
M & M 545.40 -4.11
ESCORTS 870.00 0.21
TATA MOTORS-DVR 70.55 -1.60
» More

SAIL slumps 5% amid report Govt could sell 5% stake by March 2020

"We are looking at a 5 per cent stake sale via offer for sale (OFS), but we will assess investor demand in the roadshows... Officials from the Department of Investment and Public Asset Management (DIPAM) and steel ministry are planning roadshows in Singapore and Hong Kong," news agency PTI reported, quoting an unnamed government official. READ MORE

Tata Steel slips 4% as it posts net loss of Rs 1,229 crore for Dec quarter

Shares of steel giant Tata Steel slipped over 4 per cent on Monday as the firm posted consolidated loss of Rs 1,229 crore for the quarter ended December 31, 2019 (Q3FY20) against a profit of Rs 1,753 crore profit in the year-ago period. READ MORE  

Mahindra & Mahindra slumps 3%


MARKET UPDATE:: Sensex extends fall; index down 200 pts


BUZZING STOCK:: Alkem Labs zooms over 5%


ICICI Securities on NTPC

We introduce our FY22 estimates and maintain BUY with the target price unchanged at Rs165/share. The stock is currently trading at FY22E P/BV of 0.9x (P/E of 6.7x) with an expected earnings CAGR of 16.9% over FY19-FY22E.

Derivative corner

With last few days’ upside attempts, failing to push beyond the 60 EMA, positive bets look to be easing, prompting traders shift their call longs to shorts and put shorts to longs, in both 13Feb weekly as well as the monthly.

Meanwhile, FIIs added 17512 and 17879 contracts to index put shorts and index call longs respectively, which appears in contrast to the inference made from the Nifty option spectrum, but this has more to do with the new weekly contract gaining traction on Friday. FII’s negative stance is reflected in the liquidation of 1697 contracts from index future longs, the only segment from which FIIs reduced positions on Friday. Accumulation statistics continue to project a big trading range between 12500-11500. This, along with low IVs, makes it convenient to try and buy strangles/straddles.

(Source: Geojit Securities report)

Prabhudas Lilladher on Titan

We are cutting FY20, FY21 and FY22 EPS estimates by 2.9%, 4.9% and 7.4% following 1) tepid consumer demand following 20.6% higher gold prices 2)
5% decline in jewellery grammage despite 16% higher number of stores and 12% higher area and 3) trade issues in watch business and 4) sudden loss of sales momentum in eyewear business.

We value the stock at 46xFY22 EPS and arrive at a target price of Rs1264 (Rs1189 earlier based on 46xSept21 EPS). We retain hold and recommendation addition on declines for long term gains.

Commodity watch from Motilal Oswal Securities


Nomura on Eicher Motors

The stock is trading at 20x FY22F EPS (adjusted for subsidiaries). We maintain our target P/E for RE at 18x FY22F EPS. We raise the multiple for VECV to 10x FY22F EV/EBITDA (from 8x) to factor in a potential upcycle. We roll forward from Sep-21F to Mar-22F to arrive at our new target price of Rs 17,908 (Rs 16,751 earlier). We prefer Ashok Leyland (AL IN, Buy) and M&M (MM IN, Buy) in the sector.

Nomura on M&M


Info nugget

CORPORATE SNIPPETS
 
ü  Reliance-BP to auction more gas from KG-D6 block
 
ü  Govt plans to sell 5% stake in SAIL via OFS
 
ü  SoftBank in talks to pick up minority stake in Mahindra Electric Mobility
 
ü  Whirlpool India Q3 net up 23 per cent
 
ü  BPCL starts export of very low sulphur oil from Kochi Port
 
ü  IL&FS: Sebi looks to levy higher penalties on three rating agencies
 
 
ECONOMY SNIPPETS
 
 
ü  Laid foundation for $5 trillion economy in budget: FM
 
ü  Sebi wants 'difficult to recover' tag for defaulters
 
ü  MNCs with permanent establishment to pay tax on pre-negotiated income
 
ü  RBI 'reminds' banks on need to make additional provisioning for telco loans
 
ü  GDP will reach new heights: NITI Ayog official
 
ü  Nirmala Sitharaman bats for rationalisation of GST rates
 
ü  FIIs’ equity holdings climb to a 13-quarter high during Oct-Dec
 
ü  Government may impose antidumping on a chemical imported from 4 countries
 
ü  Govt to release Rs35,000 crore to states to compensate for revenue loss
 
ü  Airbus SE, Boeing Co eye multi-billion dollar deals with India


(Source: YES Securities report)

Metal stocks trade lower amid weak global cues


Commodity watch from YES Securities

Markets seem to be concerned about still-unresolved and chaotic Chinese situation, with decent-sized selloff setting in metals. This came after a relief rally in the earlier trading sessions. LME Copper gave up roughly half of its recent gains. Ditto for zinc, while declines were registered in the rest of the group as well. Also hurting metals was the large accumulation in Chinese stocks, a trend to stay for some time given that deliveries to the exchanges might be a far easier proposition than transporting metal to other parts of the country

KEC International advances 1.6%

>> Q3 profit rises 30.7% to Rs 144.9 cr, revenue jumps 16.1% to Rs 3,073.1 cr YoY.


Result Impact | Britannia slips 0.6%

>> Q3 profit jumps 23.3% to Rs 369.9 cr, revenue rises 4.9% to Rs 2,982.7 cr YoY.


Market check | Indices weaken in early deals


SAIL slumps 4% on reports govt may sell stake


Cipla gains 1%

>> Co expands women’s health portfolio through acquisition of 4 key brands from Wanbury


Result Impact | ACC declines 2%

>> Standalone net profit at Rs 269.2 crore versus Rs 730.5 crore, revenue up 4.2% at Rs 4,060.3 crore versus Rs 3,895.4 crore, YoY


UPL surges in first trade


Sectoral trends at NSE during Opening trade


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


Market at Open


Market at Open


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


Market at Pre-open


Market at Pre-open


Rupee opening

Rupee opens stronger at 71.34/$ vs Friday's close of 71.40 against the US dollar

Too early to turn positive on M&M Finance, Chola, Shriram Transport stocks

Shriram Transport Finance's stock took investors by storm last week when it gained 23 per cent, reacting to its December quarter (Q3) results. Even the stocks of its peers — Mahindra & Mahindra Financial Services (M&M Finance) and Cholamandalam Investment and Finance (Chola Finance) — had a good run after their Q3 results, prompting a section of investors to think if the tide had turned favourable for vehicle financiers. READ MORE

NEWS ALERT | China's CPI in January rises 5.4% YoY: Reuters

>> It also saw a MoM rise of 1.4% 

Market Outlook :: Deepak Jasani, Head - retail research, HDFC Securities

Outlook today: Indian markets could open flat to negative following negative US markets on Friday and largely negative Asian markets today.

Technical view: Underlying Nifty is placed at the resistance of 12,160 and Friday's decline could be considered as a minor profit booking in the market. As long as the key lower support area of 11,950 is protected, there is a good possibility of an upside bounce in the market this week. Immediate resistance to be watched is at 12,150 levels.
 
Markets could see some correction / consolidation early this week after the big gains seen last week. They could once again attempt to reach the earlier highs later.
 
Stocks in focus: Among stocks under coverage, Trent, Ashok Leyland, VBL, BPCL could do well.


Stock recommendations from Prabhudas Lilladher: Buy SBI Life, Welspun Ent

BUY SBI LIFE
 
CMP: Rs 947.30
 
TARGET: Rs 1,040
 
STOP LOSS: Rs 900
 
The stock has given a short correction recently and has bottomed out near 885 levels and recovering from thereon to improve the bias and regaining strength and has potential to rise further in the coming days. The RSI has also recovered from its oversold zone and indicating a trend reversal to signal a buy. READ MORE

Nifty view & top trading ideas by CapitalVia: Buy ACC, JK Cement

Market traded in a range on Friday; Nifty facing 12,170 as an immediate resistance
 
The market traded in a close range on Friday, as traders turned cautious ahead of weekend on uncertainty over Coronavirus. Nifty closed at 12,098.40, slashing 39.60 points. Media, pharma, and metal stocks traded with positive sentiments throughout the day whereas realty and auto stocks witnessed pressure. Nifty bank closed at 31,202 slashing 102.05 points from the previous day’s closing READ MORE

Bulk deals on BSE as on Friday

Bulk deals on NSE as on Friday

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


Rupee Check

Source: Bloomberg



Oil Check

>> Oil prices on Monday extended their decline from an early January peak above $70 as the spectre of excess supplies loomed over the market after the spreading coronavirus outbreak hit demand in China, the world’s largest oil importer.

>> At 8:14 am, Brent Crude Futures were at $54.43 per barrel-mark, down 0.07 per cent.


SGX Nifty

>> At 8:11 am, the Singaporean Exchange for Nifty Futures was unchanged at 12,084 level.

Asian Market Check

Source: Reuters


US Market Check

Source: Reuters


Track all the latest developments of the stock markets here.
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