MARKET WRAP: Sensex slips 196 pts, Nifty gives up 11,200; auto stocks skid

(Photo: Kamlesh Pednekar)
Shares of automobile manufacturers crashed at the bourses on Monday after reports said that the government intended to hike registration and renewal charges for internal combustion vehicles. The sector was also marred by the Goods and Services Tax (GST) council's decision to cut tax rate on electric vehicles from 12 per cent to 5 per cent.

Weak June quarter performance by corporates and Finance Minister Nirmala Sitharaman's comments that the government was not relooking at the FPI surcharge proposal dented investment sentiment.

The Sensex ended 196 points, or 0.52 per cent, lower at 37,686 levels pulled down by automobile manufacturers stocks. Tata Motors, Vedanta, Bajaj Auto, and Maruti were the top laggards at the close while ICICI Bank, IndusInd Bank, and HCL Tech ended the day as top gainers. On the other hand, Nifty50 gave up the psychological level of 11,200 mark to settle at 11,189 mark, down 95 points, or 0.84 per cent. The Sensex touched an intra-day low of 37,519 while the Nifty50 hit a low of 11,152.

In the broader market, S&P BSE MidCap ended 93 points, or 0.67 per cent, lower at 13,763 levels while the S&P BSE SmallCap closed 135 points, or 1.03 per cent, lower at 12,926 levels.

Among individual stocks, shares of Indiabulls group companies were under pressure on Monday, falling by up to 10 per cent intra-day on the BSE, after Rajya Sabha member Subramanian Swamy sent a letter to Prime Minister Narendra Modi, accusing the group of laundering more than Rs 1 lakh crore. The group, however, rejected the charges READ MORE

Sectorally, all the indices ended in the red barring Nifty IT index. Nifty Auto index was the worst performing index, closing over 3.6 per cent lower. This was followed by losses in Nifty Metal index (down 2.8 per cent) and Nifty Pharma index (down 1.8 per cent). Nifty Realty, PSU bank and FMCG indices were down close to a per cent. Nifty IT index ended 0.17 per cent higher.

AUTOS SLIDE

On Monday, the Nifty Auto index was the worst hit at the bourses, sliding nearly 3.6 per cent. Maruti Suzuki, Bajaj Auto, TVS Motor, Hero MotoCorp, Ashok Leyland, Apollo Tyres, Exide Industries and Bharat Forge were some of the other stocks from the Nifty Auto index that lost 1 per cent to 4.5 per cent in intra-day trade. READ MORE

 
GLOBAL CUES

Global shares ended lower on Monday. Japan's Nikkei closed 0.19 per cent lwoer while South Korea's Kospi slipped 1.78 per cent.  


3:41 PM IST

3:40 PM IST

3:37 PM IST The S&P BSE Sensex slipped 196 points or 0.52 per cent at 37,686 while NSE's Nifty50 index ended at 11,189 levels, down 95 points or 0.84 per cent. 

3:13 PM IST

3:12 PM IST -- Net profit at Rs 182.7 crore, up 11.4% YoY -- Revenue at Rs 1,039.6 crore, up 2.2% YoY -- EBITDA Margin at 27.4%

3:04 PM IST COMPANY PRICE(rs) 52 WK HIGH CHG(rs) CHG(%) ASIAN PAINTS 1515.00 1538.35 -9.60 -0.63 PROC. GAM. HEAL. 4900.00 5120.80 129.10 2.71 VARUN BEVERAGES 642.00 683.15 -13.35 -2.04 » More on 52 Week High

3:02 PM IST

2:56 PM IST Global shares eased on Monday and the dollar hit a two-month high against a basket of currencies as markets counted down to a likely cut in U.S. interest rates this week, with much riding on whether the Federal Reserve signals yet more are to come. After initially opening lower, European shares moved into positive territory with deal-making and a rally in defensive sectors pushing up the pan-European STOXX 600 index. MSCI’s All Country World Index of stocks, down by as much as 0.2 per cent on the day, erased some losses to trade 0.05 per cent lower. In Asia, MSCI’s broadest index of Asia-Pacific shares was half a per cent lower. Japan’s Nikkei dipped 0.2 per cent and Shanghai blue chips 0.1 per cent.

2:52 PM IST Indian bond yields dropped sharply on Monday after the finance minister said the government won’t change its plan to issue sovereign bonds and that she hopes the Reserve Bank of India makes more rate cuts. India’s benchmark 10-year bond yield fell as much as 11 bps to 6.42% on Sitharaman’s comments. (via Reuters)

2:39 PM IST Besides Vodafone Idea, there are as many 656 stocks (21 per cent) out of total of 3,133 stocks traded on the BSE, including Reliance Power, Reliance Communications, IFCI and United Bank of India that are currently quoting below their respective paid-up values on the BSE, data show. READ MORE

2:32 PM IST

LIVE UPDATES

Sectoral gainers and losers on the NSE


Gainers and losers on the S&P BSE Sensex


CLOSING BELL

The S&P BSE Sensex slipped 196 points or 0.52 per cent at 37,686 while NSE's Nifty50 index ended at 11,189 levels, down 95 points or 0.84 per cent. 

Bharat Electronics slips over 6%


Earnings Alert | Castrol India Q2CY19 result

-- Net profit at Rs 182.7 crore, up 11.4% YoY

-- Revenue at Rs 1,039.6 crore, up 2.2% YoY

-- EBITDA Margin at 27.4%

Stocks that hit 52-week high on S&P BSE Sensex

COMPANY PRICE(rs) 52 WK HIGH CHG(rs) CHG(%)
ASIAN PAINTS 1515.00 1538.35 -9.60 -0.63
PROC. GAM. HEAL. 4900.00 5120.80 129.10 2.71
VARUN BEVERAGES 642.00 683.15 -13.35 -2.04
» More on 52 Week High

Kudremukh Iron Ore Company up 9%


Global shares ease ahead of Fed test: Reuters

Global shares eased on Monday and the dollar hit a two-month high against a basket of currencies as markets counted down to a likely cut in U.S. interest rates this week, with much riding on whether the Federal Reserve signals yet more are to come. After initially opening lower, European shares moved into positive territory with deal-making and a rally in defensive sectors pushing up the pan-European STOXX 600 index. MSCI’s All Country World Index of stocks, down by as much as 0.2 per cent on the day, erased some losses to trade 0.05 per cent lower.

In Asia, MSCI’s broadest index of Asia-Pacific shares was half a per cent lower. Japan’s Nikkei dipped 0.2 per cent and Shanghai blue chips 0.1 per cent.

India bond yields fall as finance minister backs rate cuts, reaffirms foreign bond issue plan: Reuters

Indian bond yields dropped sharply on Monday after the finance minister said the government won’t change its plan to issue sovereign bonds and that she hopes the Reserve Bank of India makes more rate cuts. India’s benchmark 10-year bond yield fell as much as 11 bps to 6.42% on Sitharaman’s comments.

(via Reuters)

Nearly a quarter of listed stocks on the BSE trade below face value

Besides Vodafone Idea, there are as many 656 stocks (21 per cent) out of total of 3,133 stocks traded on the BSE, including Reliance Power, Reliance Communications, IFCI and United Bank of India that are currently quoting below their respective paid-up values on the BSE, data show. READ MORE

Market check


Earnings Alert | JMC Projects reports net profit of Rs 20.6 crore, up 93.2% YoY, in Q1 result

-- Revenue at Rs 964.9 crore

-- EBITDA at Rs132.9 crore



Earnings Alert | Alembic Pharma reports net profit at Rs 123.7 crore in June quarter

-- Revenue at Rs 948.9 crore

-- EBITDA at Rs 224.5 crore

Axis Bank Q1 preview: 15% growth in NII seen, exposure to stressed assets eyed

Improved loan growth and increased net interest income (NII) could aid private lender Axis Bank to report an over 150 per cent rise in the net profit for April-June quarter for the fiscal year 2019-20 (Q1FY20). The bank, which reported a PAT of Rs 701.1 crore in the same quarter last year, is scheduled to report this year’s quarterly result on Tuesday, July 30. READ MORE

Earnings Alert | Bank of Maharashtra Q1 result

-- Net profit at Rs 89.1 crore vs loss of Rs 1108 crore YoY

-- NII at Rs 996 crore, up 16.1% YoY


Result impact | Sharp surge seen in Kansai Nerolac stock post Q1 result


Earnings Alert | Kansai Nerolac Q1 result

-- EBITDA at  Rs 253.6 crore

Earnings Alert | Kansai Nerolac Q1 result

-- Consolidated net profit at Rs 146 crore

-- Cons revenue at Rs 1,542.4 crore

Grasim slips nearly 9%


Hindustan Copper hits 52-week low


BHEL slips in trade


Auto slowdown: 286 dealers closed down in 18 months, 32,000 jobs impacted

A slowdown in the automobile sector has resulted in 286 dealers winding up operations across India. This has affected 32,000 jobs. A big chunk of the closure was reported in urban and semi-urban markets and mostly in the car segment. READ MORE

Rabobank International on expectations from US Fed

The major event this week is the FOMC’s monetary policy meeting on 30/31 July. Bloomberg conducted a survey of economists on 19th to 23rd July regarding this meeting. The median expectation is that there will be a 25bp cut at this week’s meeting (in line with Rabo’s own expectation) and then another at the October 2019 meeting. It is then expected that rates will remain on hold out to end 2021


Edelweiss on Bajaj Auto

Bajaj Auto (BJAUT) reported Q1FY20 EBITDA in line with our estimate. Near-term domestic demand outlook remains challenging with inventory at seven–eight weeks and no signs of a pickup in demand. Hence, a bounce-back in demand during the upcoming festive period remains key. We expect BJAUT to continue to gain market share with the launch of its new 125cc bike in August.

The sanguine outlook for exports is a bright spot. While we believe the margin downgrade cycle (but for any change to product mix) is behind, the focus on domestic market share and higher share of Africa in exports are likely to keep margins range-bound. Maintain ‘HOLD’ with a revised TP of Rs 2,772 (earlier Rs 2,870).

Edelweiss on AU Small Finance Bank

Operating and financial leverage will continue to play through and nudge up RoAE to 18% by FY21E. Leverage at 10.6x would likely drive a value-enhancing dilution by then, likely the first among many. The stock, trading at 4.7x FY20E P/BVPS, seems to be factoring this in. Maintain ‘BUY’ and our 12-month target price of Rs 880

Vodafone Idea plunges 29% to hit new low on weak June quarter result

Shares of Vodafone Idea tanked 29 per cent to Rs 6.60, also its new low on the BSE on Monday after the telecom services provider reported a consolidated net loss of Rs 4,874 crore for the quarter ended June 30, 2019 (Q1FY20). It had posted net loss of Rs 4,882 crore in March 2019 quarter (Q4FY19). The company's revenue slipped 4 per cent at Rs 11,270 crore against Rs 11,775 crore in previous year quarter. The lower revenue was due to further decline in subscriber base (due to adoption of minimum recharge plan) and lower than expected increase in ARPU (downtrading by customers). READ MORE

Pharma stocks trade under pressure

COMPANY LATEST(rs) CHG(rs) CHG(%) VOLUME
BIOCON 235.35 -6.25 -2.59 120774
SUN PHARMA.INDS. 432.10 -7.70 -1.75 119782
GRANULES INDIA 89.00 3.55 4.15 80149
CADILA HEALTH. 227.30 -6.75 -2.88 65861
STRIDES PHARMA 352.85 -0.45 -0.13 62715
» Mor

NEWS ALERT| US FDA issues five observations for Shilpa Medicare's API site at Raichur: BSE Filing

--  Observations are mostly procedural in nature

-- US FDA inspected Shilpa Medicare's Raichur Unit from July 22-26, 2019


Indiabulls group shares tumble up to 10% on money laundering allegations

Shares of Indiabulls group companies were under pressure on Monday, falling by up to 10 per cent intra-day on the BSE, after Rajya Sabha member Subramanian Swamy sent a letter to Prime Minister Narendra Modi, accusing the group of laundering more than Rs 1 lakh crore. The group, however, rejected the charges. The letter alleged that Indiabulls group has created more than 100 shell firms and took loans from National Housing Bank (NHB). It then re-alloted or siphoned it off to many real estate firms in Maharashtra, Delhi, Gurugram, Bengaluru and Chennai in the range of Rs 30 crore to Rs 1,000 crore READ MORE
Photo: Twitter

NEWS ALERT | To cut deposit rates on falling interest rates, surplus liquidity: SBI


NEWS ALERT | SBI to cut retail term deposit rate by up to 20 bps across tenors: CNBC TV18

-- To cut bulk deposit rate by up to 35 bps

Dr Reddy's trades lower ahead of June quarter results


Market check


Stocks that hit 52-week low on S&P BSE Sensex

COMPANY PRICE(rs) 52 WK LOW CHG(rs) CHG(%)
APOLLO TYRES 157.55 156.50 -6.50 -3.96
ASHOK LEYLAND 71.10 70.80 -3.15 -4.24
BAJAJ AUTO 2497.25 2400.00 -122.15 -4.66
BAJAJ ELECTRICAL 371.05 365.00 -6.65 -1.76
CARE RATINGS 733.40 717.05 -6.65 -0.90
» More on 52 Week Low

Market check | Nifty trades near 11,160


Market check | Indices bleed; Sensex slips 316.28 pts

-- Sensex trades at 37,566, down 0.83%


Sectoral trends at NSE at this hour

All sectors trade in red; Auto sector knocked down the most


Market check | Nifty breaches 11,200

-- Nifty50 trades at 11,182.7, down 101 points, or 0.90%


Market check | Nifty tests 11,200


Market check | Sensex extends slide


Quant funds remove human bias but may not outperform during bull run

With gradual inroads of artificial intelligence and big data in all spheres, the mutual fund industry, too, is seeing their use in the form of Quant Funds that are slowly emerging on the landscape. The first Quant Fund was launched by Reliance Mutual fund, followed with similar offering by DSP Mutual Fund, with ICICI Mutual fund likely to join the fray soon. More fund houses could float such offerings as the financial sector adopts more AI-driven products. READ MORE

NEWS ALERT | Tata Power to develop 250 MW solar project in Gujarat: BSE filing


ICICI Bank gains 5% in weak market after posting Rs 1,980 cr profit in Q1

Shares of ICICI Bank rallied 5 per cent to Rs 435 on the BSE on Monday in early morning trade, after the bank reported a standalone net profit of Rs 1,908 crore in June quarter (Q1FY20), mainly on account of lower provisioning for bad loans and higher retail loan growth. The private sector lender had posted net loss of Rs 120 crore in the same period a year ago. READ MORE

Mid-cap IT firms stumble through Q1 over client pressure, H1B visa costs

After a year of above-estimated performance, Q1FY20 has ended on a dismal note for most of the mid-cap IT services firms, with client pressure and visa costs eating into their growth numbers. Barring Mphasis, the performance of most companies has been lacklustre, as client spending took a major setback for these vendors. READ MORE

Sectoral trends at NSE at this hour


Tata Motors slumps over 4%


Lakshmi Vilas Bank tumbles as Indiabulls stocks fall


We expect L&T's Isro business to grow at least sixfold: J D Patil

Larsen & Toubro (L&T) was a major supplier to the Indian Space Research Organisation's (Isro's) Chandrayaan-II moon mission. J D Patil, senior executive vice-president for the company’s defence segment and L&T-NxT, talks to T E Narasimhan & Gireesh Babu, on this business. READ INTERVIEW HERE
J D Patil, senior executive vice-president for L&T’s defence segment and L&T-NxT

Hero MotoCorp, Bajaj Auto hit fresh 52-week lows as auto stocks skid

Shares of automobile companies continued to reel under pressure with Maruti Suzuki India, Hero MotoCorp, Baja Auto, Ashok Leyland, and Apollo Tyres from the S&P BSE Auto index hitting their respective 52-week lows on weak demand and regulatory headwinds. According to news reports, the government has proposed an increase in vehicle registration fees. READ MORE

Bank of India slips 1%


Market check


Our base remains that foreign inflows will continue, says CLSA's Nandurkar

The markets now look forward to central banks — the US Federal Reserve and the Reserve Bank of India — for cues on rates over the next couple of weeks. MAHESH NANDURKAR, executive director and India Strategist at CLSA, tells Puneet Wadhwa that he remains optimistic about foreign flows despite the Budget proposals. CLICK HERE FOR FULL INTERVIEW
MAHESH NANDURKAR, executive director and India Strategist at CLSA

SBI Life, ICICI Prudential: Here's how you can trade in insurance stocks

GIC OF INDIA (GICRE): The stock is trading within 50-days moving average (DMA) and 100 DMA, as per the daily chart. The sideways movement showing signs of consolidation in the counter. However, the last two sessions seem to indicate that a breakdown, as it failed to hold the range.
 
That said, the low of the lowest two sessions i.e Rs 208.30 will determine the next level for this counter. Till the above-mentioned level is held, one can see revival towards Rs 227.50, its 100 DMA. READ MORE

Vodafone Idea extends loss


Nifty Metal index, led by Vedanta, trades lower


MARKET CHECK


Manpasand Beverages rises 5%

-- Whole-time director Abhishek Singh, CFO Paresh Thakkar and Harshvardhan Singh were granted bail by Gujarat High court 

-- The investigation is almost concluded, sources told Reuters 
 

ABB India trades higher after reporting over 59% gain in Q1 profit


Astec LifeSciences zooms over 10%


NEWS ALERT | Will launch 3 new EVs in next two yrs: Pawan Goenka to CNBC TV18

-- Demand for EVs wont increase this year

NEWS ALERT| Don't expect much growth in July: M&M MD to CNBC TV18


NEWS ALERT | Hike in vehicle registration fee will impact demand: Pawan Goenka, Managing Director, M&M to CNBC TV18

-- June qurater was worst in terms of growth

Vimta Labs slides over 11%


JSW Steel slips in trade; hits 52-week low


Polycab climbs 5% on robust June quarter numbers


Havells down 4% after reporting 16% fall in Q1 profit


Indiabulls Real Estate dips over 6%


Most active stocks by volume

COMPANY PRICE(rs) CHG(rs) CHG(%) VOLUME
VODAFONE IDEA 8.45 -0.80 -8.65 742092
REL. COMM. 1.49 -0.04 -2.61 403281
YES BANK 95.20 -0.90 -0.94 241543
ICICI BANK 431.25 15.75 3.79 149797
SUZLON ENERGY 4.68 0.06 1.30 106651
» More on Most Active Volume

Market check


Market check


Bajaj Auto dips over 4% post Q1 results; top loser in S&P BSE Sensex


Maruti Suzuki hits new 52-week low


Apollo Tyres hit 52-week low


Vodafone Idea plunges over 11% after weak Q1 nos

-- Trades near its 52-week low

-- India's largest telecom operator Vodafone Idea on Friday reported a consolidated net loss of Rs 4,873.9 crore for the quarter ended June 30, 2019 (Q1FY20). It had reported a profit of Rs 257 crore in the corresponding quarter of the last year.


TVS Motors falls 3%


Auto stocks slips after govt reduces GST on Electric Vehicles


IDFC First Bank slips over 1% in early trade


Broader Market Check


PNB Housing Finance trades over 2% lower


Granules India trades flat with positive bias

-- USFDA has completed inspection at the company's Bonthapally facility located at Hyderabad with with one(1) 483 observation which is procedural in nature.


Vedanta trades over 1%lower on weak Q1 nos

-- Vedanta posted an 11.9 per cent year-on-year (YoY) fall in its June quarter (Q1FY20) net profit at Rs 1,351 crore, down from Rs 1,533 crore. 


Result Impact | ICICI Bank opens over 3% higher


Indiabulls Housing Fin opens 6% lower on allegations of Rs 1 lakh crore worth fraud

-- BJP Leader Subramanian Swamy sent a letter to PM Modi, accusing the Indiabulls group of Rs 1 lakh crore worth fraud. The company has denied any wrongdoing. 
 

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


Motilal Oswal Financial Services on Bajaj Finance

Outlook: Neutral

CMP: Rs 3,266

TP: Rs 3,550 

BAF has maintained its robust growth trajectory, with deepening geographical penetration and increasing repeat business. Over the past two years, it has also enhanced its capabilities on two fronts – generating higher fee income and improving the deposit franchise. We expect the improving deposit franchise to be a key driver for incremental liabilities over the next few years. Given its parentage and AAA-credit rating, BAF has comfortably sailed through the recent liquidity crisis and maintained strong growth rates. However, the recent asset quality concerns in certain products might cause some slowdown in loan growth. We expect AUM growth of 30% YoY for FY20 v/s 38% CAGR over past three years. We largely maintain our estimates. Neutral with a TP of INR3,550 (7x FY21E BVPS).

Motilal Oswal Financial Services on ICICI Bank

Recommendation: BUY

CMP: Rs 416

TP: Rs 520 

ICICIBC has delivered steady operating performance and is set to see earnings normalization. With asset quality stabilizing, credit cost will moderate meaningfully in FY20E/21E, thus, boosting return ratios. For FY20/FY21, we have fine-tuned our estimates slightly and changed our tax assumption, thus, lowering PAT estimate by ~3%/4%. We expect the bank to deliver loan CAGR of 17% over FY19-21E, and estimate core RoA/RoE to improve to 1.5%/15.5%. Maintain Buy with a revised SOTP-based TP of INR520 (2.2x FY21E ABV for the bank). 

Indiabulls Housing Fin tanks 10% during Pre-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 lower at 68.94/$ vs Friday's close of 68.90 against the US dollar

NEWS ALERT | PNB Housing raises Rs 690 cr from World Bank's International Finance Corp

-- Amount raised for on-lending to buyers in affordable housing space


Foreign investors snap 5-month buying streak, pull out Rs 3,758 cr in July

Reversing their five-month buying trend, overseas investors have pressed the exit button in July and pulled out a net Rs 3,758 crore from the Indian capital markets on account of multiple headwinds, including the super-rich tax announced in Budget 2019-20. As per the latest depositories data, foreign portfolio investors (FPIs) pulled out a net sum of Rs 14,382.59 from equities during July 1-26, but invested Rs 10,624.15 crore in the debt segment, taking the total net outflow to Rs 3,758.44 crore. READ MORE

NEWS ALERT| Alvotech & Cipla's Gulf arm enters into a partnership for the commercialisation of AVT02

Alert: AVT02 is an adalimumab biosimilar in select emerging markets




Stocks to watch: Dr Reddy's, DLF, Havells, ICICI Bank, Voda Idea, Vedanta

Here's a look at the top stocks that may trade actively in today's trading session -
 
Earnings today: Dr Reddy’s Labs, Kansai Nerolac Paints, DLF, Eid Parry, GHCL, Cochin Shipyard, SPARC, Supreme Industries and Sanofi are among the 71 companies scheduled to declare their June quarter results today.
 
Auto stocks: The high-powered GST Council on Saturday decided to reduce the tax rate on electric vehicles (EVs) to 5 per cent from the existing 12 per cent, a move aimed at accelerating the adoption of eco-friendly mobility solutions. READ MORE

From Maruti to Asian Paints, India Inc earnings see further downgrades

Weak macros are taking a toll on corporate earnings. According to data compiled by Morgan Stanley, 25 of 40 companies with market capitalisation of over Rs 70,000 crore have seen their forward earnings per share (EPS) getting revised downwards in July. A dozen companies have seen their estimated earnings revised upwards, while earnings forecast has remained unchanged for the remaining three. READ MORE

Will US Fed cut rates for the first time since the global financial crisis?

The Federal Open Market Committee (FOMC) of the US Federal Reserve will meet later this week (July 30-31) to take a call on policy interest rates. Financial markets are expecting the Fed to cut interest rates by 25 basis points. If it happens, this will be the first cut since the aftermath of the global financial crisis of 2008-2009. READ MORE
Illustration by Ajay Mohanty

Cash-strapped DHFL seeks bankers' approval to restart loan disbursals

Troubled housing financier Dewan Housing Finance Corporation (DHFL) may resume fresh disbursement of loans if lenders agree to the resolution plan, sources said. The company is expected to place the resolution plan with banks in the next few days. Sources said some of the key lenders to DHFL have consented to the company restarting its business using the equated monthly instalments (EMIs) that it collects, and its fresh loans could range between Rs 800 crore and Rs 1,000 crore a month. READ MORE

Affle (India) IPO opens today: Five things to know before you invest

The initial public offer of Affle (India), the Indian unit of global technology company Affle, opens today. The IPO will be the first offer under the new Unified Payment Interface (UPI) mechanism, which was made mandatory for retail investor category with effect from July 1, 2019. On Friday, Affle (India) raised about Rs 206.55 crore from 15 anchor investors by allotting 2772,483 equity shares at a price of Rs 745. Among the 15 anchor investors, Abeerden Asian Smaller Companies Investment and Franklin Templeton Investment Funds has subscribed over 3.05 lakh shares each. READ MORE
Illustration: Binay Sinha

Commodity Picks

Coriander
 
Coriander prices in Kota are trading at Rs 7,091 per quintal. Prices are expected to trade higher towards Rs 7,200 per quntial over the next couple of weeks following supportive demand at lower price levels and lower supplies for the season. READ MORE

Weekly market outlook and top trading ideas by Prabhudas Lilladher

NIFTY VIEW
 
Nifty has held on to the 11,250 support levels, whereby market sees some consolidation. Besides, the weightage of Nifty50 stocks is still tilted more on negative side as 40 stocks are 85 per cent on negative while only 10 stocks are 15 per cent on positive. This has been since last three weeks. It is about time we saw some bounce, failing which it would be in bears' control. The support for the week is seen at 37,300/11,100 for Sensex and Nifty, respectively, while resistance is seen at 38,480/11,480. Bank Nifty would have a range of 28,740-29,930.

Nifty outlook, top stock picks by CapitalVia

Buy Dabur (Above Rs 430)
Target: Rs 455
Stop loss: Rs 412
 
The stock was trading with positive bias irrespective of current market sentiments. The level above 430 would result in MACD bullish crossover on the daily charts. Moving average and Oscillator setup is bullish on the short-term and medium-term charts. Considering the technical evidence discussed above, we recommend buying the stock above 430 for the target of Rs 455, keeping a stop loss at Rs 412 on a closing basis. READ MORE
Photo: Shutterstock.com

Bulk deals on NSE as on Friday

Date Symbol Security Name Client Name Buy / Sell Quantity Traded Trade Price /
Wght. Avg. 
Price
Remarks
26-Jul-2019 ABINFRA A B Infrabuild Limited KUSUM JAGDISH GUPTA BUY 1,00,000 26.70 -
26-Jul-2019 ABINFRA A B Infrabuild Limited MARK CORPORATE ADVIOSRS PVT LTD SELL 2,84,000 26.70 -
26-Jul-2019 ABINFRA A B Infrabuild Limited SHALINI NALIN GUPTA BUY 80,000 26.70 -
26-Jul-2019 ABINFRA A B Infrabuild Limited SONAL KAMAL GUPTA BUY 1,00,000 26.70 -
26-Jul-2019 ARTEDZ Artedz Fabs Limited BHAVNA HITESH PATEL BUY 90,000 28.50 -
26-Jul-2019 ARTEDZ Artedz Fabs Limited HITESH MOHANBHAI PATEL BUY 1,41,000 28.50 -
26-Jul-2019 ARTEDZ Artedz Fabs Limited NAMITA HITESH PATEL SELL 2,31,000 28.50 -
26-Jul-2019 ARVIND Arvind Limited TOWER RESEARCH CAPITAL MARKETS INDIA PRIVATE LIMITED BUY 15,72,107 60.66 -
26-Jul-2019 ARVIND Arvind Limited TOWER RESEARCH CAPITAL MARKETS INDIA PRIVATE LIMITED SELL 15,72,107 60.64 -
26-Jul-2019 DHFL Dewan Housing Fin Corp TOWER RESEARCH CAPITAL MARKETS INDIA PRIVATE LIMITED BUY 22,09,461 54.85 -

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


Oil check

At 8:09 AM, brent crude was down by 0.33 per cent to $63.16 a barrel

SGX Nifty

At 8:07 AM, the SGX Nifty was trading 12.50 points lower at 11,316, indicating a flat to negative start for the domestic indices

Asian Markets check


US Market check


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