MARKETS ON THURSDAY: Indices end higher; Sensex up 211 pts, YES Bank up 10%

A share broker monitors market fluctuation
Nifty ended Spril F&O Expiry on a higher note on Thursday,  as investors cheered March-quarter results from private sector lendersYes Bank.

The S&P BSE Sensex ended at 34,714, up 212 points while the broader Nifty50 index settled at 10,618, up 47 points.

Software services exporter Wipro was among the biggest drags on the NSE index after its fourth-quarter profit missed estimates and guidance for the first quarter failed to please investors. Shares fell as much as 4.6%, their biggest fall since September 14. The stock ended 2% lower.

Yes Bank was gained 10% on robust Q4 results.Private sector lender Yes Bank’s net profit for the March quarter rose 29% year-on-year to Rs 11.79 billion beating estimates, because of a healthy net interest income growth and stable asset quality.

The quarterly net profit for the same quarter in the previous fiscal was Rs 9.14 billion.

The 10-year US Treasury yield set a fresh four-year high of 3.035% on Wednesday, driven by worries about the growing supply of government debt and inflationary pressures from rising oil prices. But, robust corporate earnings helped quell concerns and Asian shares gained.

(with Reuters inputs)

3:56 PM IST Market rundown by Vinod Nair, Head of Research, Geojit Financial Services    "Market remain range bound during most part of the day due to F&O expiry but better results from banks and improving sentiment on IT stocks lifted the index. Continued outflow of foreign money and surging oil prices added pressure on rupee and inflation trajectory. Earnings and election will be the main triggers and until then, investors are likely to take a wait and watch approach."  

3:44 PM IST Nifty Pvt Bank index ends 1.14% up. Top gainers: COMPANY LATEST PREV CLOSE GAIN() GAIN(%) YES BANK 352.40 325.25 27.15 8.35 INDUSIND BANK 1881.90 1847.75 34.15 1.85 KOTAK MAH. BANK 1185.70 1167.85 17.85 1.53 FEDERAL BANK 97.10 95.95 1.15 1.20 HDFC BANK 1930.25 1920.75 9.50 0.49

3:40 PM IST Sectoral performers

3:37 PM IST BSE Sensex: Yes Bank surges 10% to end as the top gainer

3:32 PM IST Market at close   The S&P BSE Sensex ended at 34,714, up 212 points while the broader Nifty50 index settled at 10,618, up 47 points.

3:26 PM IST YES Bank rallies 9% as asset quality improves in Q4FY18 Shares of YES Bank have moved higher by 9% to Rs 353 per share on the BSE in noon deal trade after the private sector lender’s asset quality improved in March quarter (Q4FY18) sequentially.   The bank’s Gross non-performing asset (NPA) fell to 1.28% in Q4FY18 from 1.72% per cent in the December 2017 quarter. Net NPA improved to 0.64% from 0.93% previous quarter. READ MORE

3:16 PM IST Gold hovers near 5-week low as stronger dollar, bond yields weigh Gold prices stuck to a narrow range on Thursday, hovering near five-week lows hit in the previous session, pressured by a stronger dollar and a rise in US Treasury yields. Spot gold was up 0.1 per cent at $1,324.61 per ounce, a day after it fell to $1,318.51, its lowest since March 21. READ MORE

3:00 PM IST Pioneer Distilleries zooms 20% post Q4 results   Shares of Pioneer Distilleries were locked in upper circuit of 20% at Rs 264 per share, also their 52-week high on the BSE, after the company reported a net profit of Rs 208 million, on back of government grant of Rs 481 million for the quarter ended March 2018 (Q4F718). The company, a subsidiary of United Spirits, had a net loss of Rs 112 million in the same quarter year ago. READ MORE

2:47 PM IST Bharti Infratel, Indus merger to create Rs 965 bn co, 2nd largest after ATC   Bharti Infratel and Indus Towers will merge to create the second-largest telecommunications tower company in the world, valued at Rs 965 billion. The merged entity will have a presence in all the 22 circles of the country and have 163,000 towers.   China Tower, a joint venture of three telecom operators, is the largest tower company in the world by volume of towers. It is estimated to have more than a million towers. American Tower Corporation (ATC) is possibly larger in valuation but not in terms of the number of towers it has. READ MORE

2:30 PM IST Volume Toppers COMPANY PRICE() CHG() CHG(%) VOLUME REL. COMM. 16.90 -0.80 -4.52 6695511 PC JEWELLER 237.80 -6.45 -2.64 4326146 RELIANCE NAV.ENG 19.25 -3.50 -15.38 4317845 INDBULL.REALEST. 206.95 2.05 1.00 3333634 H D I L 37.45 -1.75 -4.46 2150415

2:17 PM IST FPIs, MFs lap up blue-chips; stake in RIL, IndusInd Bank at record high Foreign portfolio investors and mutual funds have been lapping of stocks of blue-chip companies in the January – March 2018 (Q4FY18) quarter with their stakes in select companies hitting an all-time high.   FPIs ownership in 13 companies from the S&P BSE200 index, such as Reliance Industries (RIL), IndusInd Bank, UltraTech Cement, Ashok Leyland and ICICI Prudential Life Insurance hit record high at the end of Q4FY18, CapitalinePlus data shows. READ MORE

2:01 PM IST Market Check   S&P BSE Sensex 34,581.03 0.23%   Nifty 50 10,580.05 0.09%   S&P BSE 200 4,652.45 0.14%   Nifty 500 9,357.55 0.08%   S&P BSE Mid-Cap 16,755.58 -0.20%   S&P BSE Small-Cap 18,157.63 0.22%

LIVE UPDATES

Market rundown by Vinod Nair, Head of Research, Geojit Financial Services 
 
"Market remain range bound during most part of the day due to F&O expiry but better results from banks and improving sentiment on IT stocks lifted the index. Continued outflow of foreign money and surging oil prices added pressure on rupee and inflation trajectory. Earnings and election will be the main triggers and until then, investors are likely to take a wait and watch approach."
 
Nifty Pvt Bank index ends 1.14% up. Top gainers:

COMPANY LATEST PREV CLOSE GAIN() GAIN(%)
YES BANK 352.40 325.25 27.15 8.35
INDUSIND BANK 1881.90 1847.75 34.15 1.85
KOTAK MAH. BANK 1185.70 1167.85 17.85 1.53
FEDERAL BANK 97.10 95.95 1.15 1.20
HDFC BANK 1930.25 1920.75 9.50 0.49

Sectoral performers


BSE Sensex: Yes Bank surges 10% to end as the top gainer


Market at close
 
The S&P BSE Sensex ended at 34,714, up 212 points while the broader Nifty50 index settled at 10,618, up 47 points.
YES Bank rallies 9% as asset quality improves in Q4FY18

Shares of YES Bank have moved higher by 9% to Rs 353 per share on the BSE in noon deal trade after the private sector lender’s asset quality improved in March quarter (Q4FY18) sequentially.
 
The bank’s Gross non-performing asset (NPA) fell to 1.28% in Q4FY18 from 1.72% per cent in the December 2017 quarter. Net NPA improved to 0.64% from 0.93% previous quarter. READ MORE

Gold hovers near 5-week low as stronger dollar, bond yields weigh

Gold prices stuck to a narrow range on Thursday, hovering near five-week lows hit in the previous session, pressured by a stronger dollar and a rise in US Treasury yields. Spot gold was up 0.1 per cent at $1,324.61 per ounce, a day after it fell to $1,318.51, its lowest since March 21. READ MORE

Pioneer Distilleries zooms 20% post Q4 results
 
Shares of Pioneer Distilleries were locked in upper circuit of 20% at Rs 264 per share, also their 52-week high on the BSE, after the company reported a net profit of Rs 208 million, on back of government grant of Rs 481 million for the quarter ended March 2018 (Q4F718). The company, a subsidiary of United Spirits, had a net loss of Rs 112 million in the same quarter year ago. READ MORE
Bharti Infratel, Indus merger to create Rs 965 bn co, 2nd largest after ATC
 
Bharti Infratel and Indus Towers will merge to create the second-largest telecommunications tower company in the world, valued at Rs 965 billion. The merged entity will have a presence in all the 22 circles of the country and have 163,000 towers.
 
China Tower, a joint venture of three telecom operators, is the largest tower company in the world by volume of towers. It is estimated to have more than a million towers. American Tower Corporation (ATC) is possibly larger in valuation but not in terms of the number of towers it has. READ MORE
Volume Toppers

COMPANY PRICE() CHG() CHG(%) VOLUME
REL. COMM. 16.90 -0.80 -4.52 6695511
PC JEWELLER 237.80 -6.45 -2.64 4326146
RELIANCE NAV.ENG 19.25 -3.50 -15.38 4317845
INDBULL.REALEST. 206.95 2.05 1.00 3333634
H D I L 37.45 -1.75 -4.46 2150415

FPIs, MFs lap up blue-chips; stake in RIL, IndusInd Bank at record high

Foreign portfolio investors and mutual funds have been lapping of stocks of blue-chip companies in the January – March 2018 (Q4FY18) quarter with their stakes in select companies hitting an all-time high.
 
FPIs ownership in 13 companies from the S&P BSE200 index, such as Reliance Industries (RIL), IndusInd Bank, UltraTech Cement, Ashok Leyland and ICICI Prudential Life Insurance hit record high at the end of Q4FY18, CapitalinePlus data shows. READ MORE

Market Check

 
S&P BSE Sensex 34,581.03 0.23%
 
Nifty 50 10,580.05 0.09%
 
S&P BSE 200 4,652.45 0.14%
 
Nifty 500 9,357.55 0.08%
 
S&P BSE Mid-Cap 16,755.58 -0.20%
 
S&P BSE Small-Cap 18,157.63 0.22%

PNB, HPCL, Idea, Bharti Infratel, HDIL, Reliance Naval hit 52-week lows

Punjab National Bank, Hindustan Petroleum Corporation Limited (HPCL), Idea Cellular, Housing Development & Infrastructures (HDIL), Reliance Naval and Engineering and Bharti Infratel were among 14 stocks from the S&P BSE 500 index hitting their respective 52-week lows on the BSE on Thursday.
 
Sugar stocks such as Bajaj Hindustan, Balrampur Chini Mills and EID Parry, Lakshmi Vilas Bank, Power Finance Corporation, S H Kelkar & Co, Somany Ceramics and Vakrangee too hit 52-week lows today. READ MORE

From ReNew Power to TPG, platforms gaining ground among PE investors

ReNew Power Ventures roped in Canadian pension fund CPPIB to buy the solar energy platform of Ostro Energy, backed by PE firm Actis. Investors, including Canadian pension fund CDPQ, in race to pick up a stake in TPG Growth’s single-speciality hospital platform in India. READ MORE
 
Top BSE500 gainers

COMPANY PRICE() CHG() CHG(%) VOLUME
JM FINANCIAL 133.50 8.15 6.50 135652
I D F C 55.90 3.40 6.48 1508665
CYIENT 776.60 42.25 5.75 72830
NESTLE INDIA 9159.40 424.75 4.86 2634
L&T TECHNOLOGY 1351.50 61.70 4.78 47282

Lower margins drag LIC Housing's Q4; analysts postive about coming quarter

A contraction of 48 basis points (bps) year-on-year (y-o-y) in net interest margin (NIM: a difference between interest earned and expanded as per cent of advances) of LIC Housing Finance during the March 2018 quarter (Q4) disappointed investors. NIMs were down largely due to lower yields on loans, induced by stiff competition. READ MORE
 
India Inx planning new platform to make buying shares of foreign cos easier

Buying shares of foreign companies is likely to get easier. According to sources, India Inx, an arm of leading bourse BSE, plans to launch a platform to directly deal in shares of companies listed across the globe.
 
The platform, likely to be called India Inx Global Access, is being created from the Gujarat International Finance Tec-City (GIFT), an International Finance Services Centre (IFSC) where India Inx is headquartered. READ MORE

PC Jeweller hits 52-week low; stock tanks over 25% in two trading days

PC Jeweller hit a 52-week low of Rs 208, down 15% on the National Stock Exchange (NSE) in early morning trade on back of heavy volumes. In past two trading days, the stock tanked 28% from Rs 289 on Tuesday, April 24, 2018.
 
With today’s fall, the stock plunged 65% from its record high level of Rs 601, touched on January 16, 2018 in intra-day deal, the NSE data shows. READ MORE

Bharti Infratel-Indus deal positive but Vodafone-Idea overhang a concern

The merger announcement of Bharti Infratel and Indus Towers had little impact on the former's share price, which fell one per cent, despite the benefits. Why? Infratel would gain significant scale --- with 1,63,162 telecom towers, including 39,523 already owned, and 367,000 tenancies across all 22 service areas in India, it will be the largest tower company in the world, excluding China. READ MORE
Market Check

S&P BSE Sensex 34,553.20 0.15%
 
Nifty 50 10,571.95 0.01%
 
S&P BSE 200 4,649.29 0.08%
 
Nifty 500 9,350.65 0.01%
 
S&P BSE Mid-Cap 16,757.07 -0.19%
 
S&P BSE Small-Cap 18,144.69 0.14%

Analysts keep faith in Airtel despite lowest quarterly profit in 15 years
 
A surprise in the January–March 2018 (Q4FY18) quarter numbers, merger of Bharti Infratel & Indus Towers to create world's largest non-Chinese tower firm and Telecom Disputes Settlement and Appellate Tribunal (TDSAT) interim stay on the Telecom Regulatory Authority of India’s (Trai’s) predatory pricing order had a positive impact on Bharti Airtel at the bourses on Wednesday. READ MORE
Stocks at 52-week high

COMPANY PRICE() 52 WK HIGH CHG() CHG(%)
ASHOK LEYLAND 164.35 166.40 0.40 0.24
BIOCON 660.30 665.95 6.50 0.99
CYIENT 769.05 779.45 34.70 4.73
HIND. UNILEVER 1467.80 1472.00 8.20 0.56
INDIABULLS VENT. 442.00 487.00 -28.40 -6.04
» More on 52 Week High
Sebi could make 'pre-trade' allocation mandatory in Indian markets

The Securities and Exchange Board of India (Sebi) will soon issue a set of rules for trade allocations of institutional investors such as mutual funds (MFs) or foreign portfolio investors (FPIs). Sources say Sebi could make ‘pre-trade’ allocation mandatory.
 
Currently, pooled investors, including MFs and FPIs, are allowed to buy blocks of shares from the market without assigning these to a specific scheme. Under the new framework, funds will have to determine beforehand how much of the purchased shares would go into each scheme. READ MORE

UltraTech Q4 net down 39% on one-offs, but core performance surprises

The country’s largest cement producer, UltraTech, on Wednesday reported a 39 per cent year-on-year decline in consolidated net profit for the March quarter, mainly due to one-offs or exceptional items. Adjusted for the provision for stamp duty on acquired assets and impairment of assets (in West Asia and Oman) to the tune of Rs 3.15 billion, the net profit at Rs 7.24 billion came close to Rs 7.26 billion reported in the year-ago quarter despite rising depreciation and interest costs. READ MORE
 
Emami shares surge 7% on bonus issue plan

Shares of Emami have surged 7% to Rs 1,204 on the BSE in early morning trade after the company engaged in manufacturing & marketing of personal care & healthcare products business announced a bonus issue plan. READ MORE
 
Strong support between 10,200 and 10,300 on Nifty

The Nifty finally reversed its rising trend, though it's too early to judge if this is a serious correction. The resistance appears to be between 10,600 and 10,650, the index saw selling pressure twice in that zone. This is well above the 200 Day Moving Average (200-DMA).
 
Obviously, a rise above 10,650 will indicate a continuation of the intermediate uptrend. A further breakout could have a target of 10,900. If the reversal continues on the other hand, the short-term pattern could be range trading between 10,300 and 10,650. READ MORE

Wipro dips 5% on weak revenue guidance for Q1FY19

Shares of Wipro have dipped 5% to Rs 274 per share on the BSE in early morning trade after the India's third-largest information technology (IT) services company has gave a disappointing revenue growth guidance of -2.3% to 0.1% in CC (constant- currency) terms for the April-June quarter of 2018-19 (Q1FY19). READ MORE
 
Market Check

 
S&P BSE Sensex 34,570.93 0.20%
 
Nifty 50 10,585.45 0.14%
 
S&P BSE 200 4,655.39 0.21%
 
Nifty 500 9,361.20 0.12%
 
S&P BSE Mid-Cap 16,804.86 0.10%
 
S&P BSE Small-Cap 18,155.18 0.20%

Interview of the day We'll acquire new biz for skills we can't build internally, says Wipro CFO
 
Wipro Chief Financial Officer JATIN DALAL tells Bibhu Ranjan Mishra and Samreen Ahmad in an interview that even though a couple of past buyouts have not done well, it will not turn away from inorganic opportunities. The focus, however, would be to grow capabilities organically. CLICK HERE FOR MORE
Jatin Dalal, Wipro CFO

Wipro falls post Q4 earnings


Sectoral Trend


Top Sensex gainers and losers 


Markets at Open

At 9:16 am, the S&P BSE Sensex was trading at 34,527 up 26 points while the broader Nifty50 index ws ruling at 10,577, up 6 points
Markets at pre-open

Index Current Pt. Change % Change
 
S&P BSE SENSEX 34,530.36 +29.09 +0.08
 
S&P BSE SENSEX 50 11,064.70 +9.78 +0.09
 
S&P BSE SENSEX Next 50 34,447.89 -0.68 0.00
 
S&P BSE 100 10,980.69 +8.03 +0.07
 
S&P BSE Bharat 22 Index 3,528.88 +2.48 +0.07

(Source: BSE)
Wipro Q4 misses estimates on lower revenue, posts Rs 18 bn net profit

Wipro, India's third-largest IT services company, posted slower revenue growth in 2017-18. The weak revenue growth guidance for the April-June quarter of 2018-19 raised concerns if the company would be able to maintain its growth in this financial year.
 
The company posted a drop in its net profit with a marginal slide in its revenue growth for the fourth quarter of 2017-18, as slowdown in communication vertical coupled with insolvency of two of its clients dragged its performance. READ MORE

Top trading ideas for today's trade: Buy Bajaj Finserv, Sell India Cements

Stock: BAJAJ FINSERV
Reco.: Buy
CMP: Rs 5,434
 
Fresh breakout from the 6 months consolidation indicates the ongoing secular upmove to remain intact. The continuation pattern on the daily scale indicates an initial target upto 5940, trading longs could be participated with a stop below 5300. READ MORE

Today's picks: From M&M to Tata Steel, hot stocks to watch on Thursday

Mahindra & Mahindra
Current price: Rs 854
Target price: Rs 870
 
Keep a stop at Rs 847 and go long. Add to the position between Rs 863 and Rs 666. Book profits at Rs 870. READ MORE

Nifty outlook and top trading ideas from Prabhudas Lilladher for today

The daily trend turns down in Nifty after 20 days with 10,630 holding as a crucial resistance level. The market is unable to move past 10,630 with 3 attempts. The support for the day is seen at 10,500 while resistance is seen at 10,620. READ MORE

Markets on Wednesday

 
S&P BSE Sensex 34,501.27 -0.33%
 
Nifty 50 10,570.55 -0.41%
 
S&P BSE 200 4,645.72 -0.41%
 
Nifty 500 9,349.95 -0.43%
 
S&P BSE Mid-Cap 16,788.55 -0.52%
 
S&P BSE Small-Cap 18,118.62 -0.72%

SGX Nifty

The SGX Nifty was at 10,550.50, down 0.16 per cent from the previous close.
Wall Street

The Dow rose 0.25 per cent overnight, ending a five-day losing streak, and the S&P 500 gained 0.18 per cent on optimism over a spate of upbeat earnings that managed to offset jitters over rising US bond yields.
Asian Markets

Asian stocks rose on Thursday as robust corporate earnings helped Wall Street quell concerns about the surge in US bond yields, while the dollar hovered near 3-1/2 month highs against a basket of currencies.
 
South Korea’s KOSPI climbed 1.2 per cent, with tech shares buoyed after Samsung Electronics posted a record quarterly profit. Australian stocks edged up 0.2 per cent and Japan’s Nikkei rose 0.7 per cent. Shanghai bucked the trend and slipped 0.3 per cent.
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