MARKET WRAP: Indices end flat, Nifty holds 10,900; Sun Pharma tanks 9%

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Continuing with their lacklustre performance for the third straight day, the equity benchmark indices settled on a flat note on Friday. While the day witnessed solid buying in bluechips such as Reliance Industries (RIL), HCL Tech, HDFC Bank and TCS, the gains in the index were capped by drubbing in counters including Sun Pharma, Bharti Airtel and L&T.  

The S&P BSE Sensex ended just 13 points higher at 36,387, while NSE's Nifty50 index held the crucial 10,900 level to close at 10,907, up 2 points.

On the weekly basis, both the indices ended 1 per cent higher.

Sectorally, barring IT, all other indices ended in the red with the pharma stocks bleeding the most. The Nifty Pharma pack lost nearly 3 per cent to end the day at 8,690. 

BUZZING STOCK

Shares of pharma bellwether Sun Pharma crashed to their six year- low of Rs 375.40 apiece in the early trade on Friday after news reports suggested fresh whistleblower documents were sent to Sebi. The stock plunged as much as 12 per cent on BSE. The company, however, in a BSE filing clarified that it was not privy to the news reported by MoneyLife The stock, eventually, ended nearly 9 per cent lower at Rs 390.75. 

Shares of Reliance Industries closed over 4 per cent higher at Rs 1,183 apieceon the BSE after the company reported a better-than-expected consolidated net profit of Rs 10,251 crore in October-December quarter (Q3FY19). RIL became the first Indian private sector company to cross Rs 10,000 crore quarterly profits milestone. The company had a profit of Rs 9,420 crore in the year-ago quarter.

In the broader market, the S&P BSE MidCap index closed trading 119 points or 0.79 per cent lower at 15,023 levels, while the S&P BSE Smallcap index ended 107 points or nearly 1 per cent lower at 14,505. 

GLOBAL MARKETS

Asian stocks rose across the board on Friday as a report of progress in US-China trade talks stirred hopes of a deal in their tariff dispute and supported risk sentiment.

MSCI's broadest index of Asia-Pacific shares outside Japan added 0.55 per cent. The index has gained 1.3 per cent this week. The Shanghai Composite Index was up 1 per cent. Australian stocks rose 0.5 per cent, South Korea's KOSPI advanced 0.6 per cent while Japan's Nikkei gained more than 1 per cent to a one-month high.

 
(with Reuters inputs)

3:38 PM IST NSE sectoral gainers and losers of the day

3:35 PM IST Gainers and losers of the day on BSE Sensex

3:32 PM IST Market at close   The S&P BSE Sensex ended at 36,387, up 13 points or 0.03 per cent, while the broader Nifty50 index settled at 10,907, up 2 points or 0.02 per cent.

3:17 PM IST Reliance to invest Rs 3 trillion in next 10 years in Gujarat: Mukesh Ambani India's richest person Mukesh Ambani Friday committed to investing Rs 3 trillion in various projects in the next 10 years in Gujarat, that may range from energy and petrochemical to new technology and digital business.   Ambani's Reliance Industries operates the world's largest oil refining complex at Jamnagar in Gujarat as well as petrochemical units at multiple locations in the state. READ MORE

2:54 PM IST Top gainers and losers on S&P BSE Sensex

2:37 PM IST Top losers on BSE500 COMPANY PRICE() CHG() CHG(%) VOLUME LINDE INDIA 620.80 -146.15 -19.06 175684 SPARC 145.95 -26.05 -15.15 709766 SUN PHARMA.INDS. 379.40 -47.75 -11.18 4672480 PHILLIPS CARBON 184.90 -22.80 -10.98 588832 SUN TV NETWORK 524.35 -41.60 -7.35 262072 » More on Top Losers

2:21 PM IST Sun TV Network, Ashok Leyland, Nilkamal, SPARC hit 52-week lows Shares of Sun TV Network, Ashok Leyland, Force Motors, Deepak Fertilisers and Chemicals, Sun Pharmaceutical Industries, Sun Pharma Advanced Research (SPARC), Nilkamal and Jamana Auto Industries were among eight stocks from the S&P BSE 500 index hit their respective 52-week lows on the BSE on Friday. Shares of Sun TV Network hit a two-year low of Rs 514, down 9 per cent on the BSE, on back of heavy volumes. The stock of broadcasting & cable TV operator was trading at its lowest level since January 3, 2017. Read more  

2:09 PM IST Market check Index Current Pt. Change % Change   S&P BSE SENSEX 36,350.94 -23.14 -0.06   S&P BSE SENSEX 50 11,398.82 -10.04 -0.09   S&P BSE SENSEX Next 50 32,447.89 -230.96 -0.71   S&P BSE 100 11,160.99 -19.61 -0.18   S&P BSE Bharat 22 Index 3,444.49 -24.92 -0.72

1:57 PM IST NEWS ALERT | L&T Infotech Q3 net profit at Rs 375.5 crore

1:55 PM IST NEWS ALERT | NIIT Tech Q3 consolidated net profit at Rs 100.2 cr

1:48 PM IST PREVIEW Wipro Q3: Revenue in CC terms may grow 2% QoQ; deal wins, digital biz eyed IT firm Wipro is scheduled to release its financial results for October-December period of FY19 today. This quarterly earnings report of the company will be keenly watched for growth rates in Energy and Utilities, acceleration in Banking, financial services and insurance (BFSI), participation in large deals and digital growth rates.   The company will also consider a proposal for issuing bonus shares to shareholders in its board meeting today. READ MORE Wipro

1:30 PM IST NEWS ALERT Dhanlaxmi Bank Q3 results Net Profit of Rs 16.9 crore (Q3FY19) vs loss of Rs 21.74 crores (Q3FY18)

LIVE UPDATES

NSE sectoral gainers and losers of the day


Gainers and losers of the day on BSE Sensex


Market at close
 
The S&P BSE Sensex ended at 36,387, up 13 points or 0.03 per cent, while the broader Nifty50 index settled at 10,907, up 2 points or 0.02 per cent.
Reliance to invest Rs 3 trillion in next 10 years in Gujarat: Mukesh Ambani

India's richest person Mukesh Ambani Friday committed to investing Rs 3 trillion in various projects in the next 10 years in Gujarat, that may range from energy and petrochemical to new technology and digital business.
 
Ambani's Reliance Industries operates the world's largest oil refining complex at Jamnagar in Gujarat as well as petrochemical units at multiple locations in the state. READ MORE

Top gainers and losers on S&P BSE Sensex


Top losers on BSE500

COMPANY PRICE() CHG() CHG(%) VOLUME
LINDE INDIA 620.80 -146.15 -19.06 175684
SPARC 145.95 -26.05 -15.15 709766
SUN PHARMA.INDS. 379.40 -47.75 -11.18 4672480
PHILLIPS CARBON 184.90 -22.80 -10.98 588832
SUN TV NETWORK 524.35 -41.60 -7.35 262072
» More on Top Losers
Sun TV Network, Ashok Leyland, Nilkamal, SPARC hit 52-week lows

Shares of Sun TV Network, Ashok Leyland, Force Motors, Deepak Fertilisers and Chemicals, Sun Pharmaceutical Industries, Sun Pharma Advanced Research (SPARC), Nilkamal and Jamana Auto Industries were among eight stocks from the S&P BSE 500 index hit their respective 52-week lows on the BSE on Friday.
Shares of Sun TV Network hit a two-year low of Rs 514, down 9 per cent on the BSE, on back of heavy volumes. The stock of broadcasting & cable TV operator was trading at its lowest level since January 3, 2017. Read more
 
Market check

Index Current Pt. Change % Change
 
S&P BSE SENSEX 36,350.94 -23.14 -0.06
 
S&P BSE SENSEX 50 11,398.82 -10.04 -0.09
 
S&P BSE SENSEX Next 50 32,447.89 -230.96 -0.71
 
S&P BSE 100 11,160.99 -19.61 -0.18
 
S&P BSE Bharat 22 Index 3,444.49 -24.92 -0.72

NEWS ALERT | L&T Infotech Q3 net profit at Rs 375.5 crore
NEWS ALERT | NIIT Tech Q3 consolidated net profit at Rs 100.2 cr
PREVIEW Wipro Q3: Revenue in CC terms may grow 2% QoQ; deal wins, digital biz eyed

IT firm Wipro is scheduled to release its financial results for October-December period of FY19 today. This quarterly earnings report of the company will be keenly watched for growth rates in Energy and Utilities, acceleration in Banking, financial services and insurance (BFSI), participation in large deals and digital growth rates.
 
The company will also consider a proposal for issuing bonus shares to shareholders in its board meeting today. READ MORE
Wipro

NEWS ALERT Dhanlaxmi Bank Q3 results

Net Profit of Rs 16.9 crore (Q3FY19) vs loss of Rs 21.74 crores (Q3FY18)
Foreign buying of emerging Asian bonds in 2018 fell sharply

Foreign purchases of bonds issued in five Asian markets in 2018 fell sharply from the previous year, data shows, as the Sino-U.S. trade war and higher U.S. yields prompted many investors to shy away from riskier assets.
 
Data from central banks and bond market associations showed overseas investors bought a net $10.02 billion in Indonesian, Thai, South Korean, Indian and Malaysian bonds in 2018, compared with $49 billion in 2017. READ MORE

Higher margin norms likely to affect derivatives segment volumes

In what may impact volumes and reduce leverage in the market, brokers will collect much higher margins from clients trading in the derivatives segment from Monday.
 
Over the past few months, the Securities and Exchange Board of India (Sebi) has raised the margin requirement thrice, effectively increasing it by 40-50 per cent. Options writers, especially those writing out of the money options, and arbitrageurs, who attempt to profit from price inefficiencies, will be hit the most. READ MORE

Telecom stocks under pressure: Bharti Airtel, Vodafone India fall up to 7%

Shares of telecom services provider Bharti Airtel and Vodafone Idea have fallen by up to 7 per cent on BSE in the intra-day trade. Bharti Airtel has dipped 7 per cent to Rs 310 on the BSE. Vodafone Idea slipped 6 per cent to Rs 34.60, trading close to its 52-week low of Rs 32.10 on December 12, 2018, on BSE in the intra-day trade. In comparison, the S&P BSE Sensex was down 0.16 per cent at 36,316 points at 11:57 am. READ MORE

Top gainers and losers on S&P BSE Sensex


Market check

Index Current Pt. Change % Change
 
S&P BSE SENSEX 36,275.57 -98.51 -0.27
 
S&P BSE SENSEX 50 11,379.33 -29.53 -0.26
 
S&P BSE SENSEX Next 50 32,487.45 -191.40 -0.59
 
S&P BSE 100 11,146.42 -34.18 -0.31
 
S&P BSE Bharat 22 Index 3,449.06 -20.35 -0.59

Prabhudas Lilladher on Reliance Industries

In-line performance
 
Rating: ACCUMULATE 
CMP: Rs 1,134 
TARGET PRICE: Rs 1,238
 
--Stellar petrochemicals performance make up for weak refining earnings
-- Global refining margins to come off as net capacity addition of 2mbpd for CY19 will be higher than crude demand of 1.4mbpd.
-- IMO 2020 will lift diesel spreads in FY21 as marine fuel sulfur norms are tightened. RIL with high complexity well placed to capitalize.
Wipro nears 52-week high ahead of board meet for bonus issue, Q3 results

Shares of Wipro were trading firm at Rs 341 apiece, up 1.5 per cent on the BSE, in an otherwise subdued market, ahead of the board meeting today to consider bonus issue and December quarter results. In comparison, the S&P BSE Sensex was down 0.15 per cent at 36,320 points at 11:06 am. Wipro was trading close to its 52-week high of Rs 344 hit on December 13, 2018, on the BSE in intra-day trade. Read more

Web Exclusive Tech analysis: How RIL, HUL and Sun Pharma shares look on charts

A host of companies including index heavyweights such as Reliance Industries (RIL) and Hindustan Unilever (HUL) announced their third quarter results of FY19 on Thursday. Here's a look at what technical indicators suggest for them and other buzzing stocks -
 
Reliance Industries: The formation of the Symmetrical Triangle on the daily chart has triggered rally towards the high of Rs 1,186 level, touched in November last year. The said pattern represents consolidation before breaking out or breaking down. The two trendlines need to converge to start afresh rally. Click here to read more

Wipro Q3 preview: Revenue in CC terms may grow 2% QoQ; deal wins, digital biz eyed

IT firm Wipro is scheduled to release its financial results for October-December period of FY19 today. This quarterly earnings report of the company will be keenly watched for growth rates in Energy and Utilities, acceleration in Banking, financial services and insurance (BFSI), participation in large deals and digital growth rates. The company will also consider a proposal for issuing bonus shares to shareholders in its board meeting today. Click here to read more
 
Rallis India falls 6% on disappointing December quarter results

Rallis India declined 6 per cent to Rs 163 on the BSE in morning deals after it reported 45 per cent year-on-year (YoY) fall in its consolidated net profit at Rs 13.76 crore in December quarter (Q3FY19). READ MORE

Dalal Street sees strong recovery for Apollo Hospitals

While other listed hospital stocks are struggling on the bourses, Apollo Hospitals has been hitting 52-week highs in recent weeks. The company has been an outlier among peers on expectation of better utilisation and performance in the hospitals business and value unlocking through monetisation of its pharmacy business.
 
The latter business is India’s largest, with over 3,000 stores and a standout segment in recent years. READ MORE
Top losers on BSE500

COMPANY PRICE() CHG() CHG(%) VOLUME
SUN PHARMA.INDS. 383.40 -43.75 -10.24 2040888
SPARC 159.40 -12.60 -7.33 231992
HSIL 232.00 -15.95 -6.43 2329
LINDE INDIA 732.55 -34.40 -4.49 12790
BAJAJ CONSUMER 371.00 -17.35 -4.47 2447
» More on Top Losers
Sun Pharma plunges to six-year low on fresh whistleblower complaint buzz

Shares of pharma bellwether Sun Pharma crashed to their six year- low of Rs 375.40 apiece in the early trade on Friday after news reports suggested fresh whistleblower documents were sent to Sebi. The stock plunged as much as 12 per cent on BSE. In the last two trading days, the stock has fallen 17 per cent. Based on the low price of Rs 375.40, the company's valuation got eroded by Rs 12,416 crore in the intra-day trade. In two days, the company has lost Rs 18,702 crore in m-cap. Read more
Weak telco financials could dent Bharti Infratel's plans; stock falls

With the telecom sector struggling with pricing pressures and excessive leverage, Bharti Infratel (Infratel), which counts the top telcos as its clients, has been under pressure. Its stock has declined over 18 per cent over the last year on worries of tenancy growth, given the weak balance sheets of its clients and consolidation in the sector. The firm, in a recent interaction with analysts, allayed fears regarding growth in tenancies and potential growth avenues. Given the higher churn after consolidation in the sector, there were worries about tenancies. Read more
Reliance Industries gains 2% as Q3 profit beats estimate

Shares of Reliance Industries gained 2 per cent to Rs 1,157 apieceon the BSE after the company reported a better-than-expected consolidated net profit of Rs 10,251 crore in October-December quarter (Q3FY19). RIL became the first Indian private sector company to cross Rs 10,000 crore quarterly profits milestone. The company had a profit of Rs 9,420 crore in the year-ago quarter. READ MORE
 

Market check

Index Current Pt. Change % Change
 
S&P BSE SENSEX 36,311.16 -62.92 -0.17
 
S&P BSE SENSEX 50 11,392.13 -16.73 -0.15
 
S&P BSE SENSEX Next 50 32,627.45 -51.40 -0.16
 
S&P BSE 100 11,164.04 -16.56 -0.15
 
S&P BSE Bharat 22 Index 3,467.44 -1.97 -0.06

Expect strong fund-raising after elections: Equirus Capital's Ajay Garg

After beginning its journey in 2007 as an advisory, Equirus has diversified into institutional broking, investment banking and wealth management. According to reports, the financial services firm is looking to acquire IDFC Securities, which is on the block. While refraining from commenting on any specific deal, Ajay Garg, founder and managing director of Equirus Capital, tells Jash Kriplani about his company’s growth plans and how the market activity can play out. Click here to read more
Ajay Garg, Founder & MD, Equirus Capital
 
NEWS ALERT Sun Pharma hits 52 week low in early trade


Sectoral trend on NSE


Opening gainers and losers on S&P BSE Sensex


Market at open
 
At 9:15 AM, the S&P BSE Sensex was trading at 36,454, up 80 points, while the broader Nifty50 was ruling at 10,921, up 16 points.
Market at pre-open

Index Current Pt. Change % Change
 
S&P BSE SENSEX 36,441.70 +67.62 +0.19
 
S&P BSE SENSEX 50 11,430.81 +21.95 +0.19
 
S&P BSE SENSEX Next 50 32,721.88 +43.03 +0.13
 
S&P BSE 100 11,201.16 +20.56 +0.18
 
S&P BSE Bharat 22 Index 3,473.39 +3.98 +0.11

Rupee opening
 
Rupee opens at 71.07/$ vs its previous close of 71.03 against the US dollar
Today's picks

Sun Pharma
Current price: Rs 426
Target price: Rs 418
 
Keep a stop at 430 and go short. Add to the position between 420-422. Book profits at 418.
 
Tata Steel
Current price: Rs 483
Target price: Rs 465
 
Keep a stop at 477 and go short. Add to the position between 467-469. Book profits at 465. Read more
Commodity outlook by Tradebulls Securities

Buy Silver
TARGET: Rs 40,500
STOP LOSS: Rs 39,700
 
Silver has strong resistance at 39800. Since past 5 trading session, silver is unable to sustain above that level. So we would recommend creating long only above 40,000 with stop loss of 39,700 and target of 40,500. RSI_14 is above 50 so the bullish trend is confirmed. On a daily scale, price action is seen in ‘ascending triangle’ chart pattern and we need to confirm the breakout post 40,000 levels so buy silver only above 40,000 levels. Read more
Top trading calls by Anand Rathi

TATAGLOBAL: BUY
TARGET: Rs 226
STOP LOSS: Rs 212

The stock seems to have completed the right shoulder of the inverse head and shoulders pattern. The momentum indicator is also well into the buy mode.
 
BIOCON: BUY
TARGET: Rs 685
STOP LOSS: Rs 640
 
The stock has provided a breakout from the symmetrical triangular pattern which is a bullish reversal pattern. The momentum indicator is also well into the buy mode. Read more
Derivative strategy on NCC by HDFC Securities

BUY NCC JAN FUTURE @ Rs 89.90
Stop loss of Rs 87
Target Rs 95
 
Rationale: Primary trend of the stock has been bullish. During the recent running correction, the stock has found support on the upward sloping trend line on the daily charts. Moving average and Oscillator setup is bullish on short to medium term charts. Higher tops and higher bottoms on the daily chart is well intact.
 
We recommend buying NCC Jan Fut at CMP, for the upside target of 95, keeping a stop loss at 87.

Nifty outlook and top trading ideas by Prabhudas Lilladher
 
Market yet again in a narrow range with hardly any definite move as far as Nifty is concerned but with a positive bias though with several attempts it has been unable to cross the 10930 hurdle. The support for the day is seen at 36080/10840 while resistance is seen at 36660/10960. Bank Nifty would have a range of 27230-27830. Kotak Bank looks promising from hereon. READ MORE
Wipro, HUL, RIL and Aurobindo Pharma among top stocks to track today

Asian shares were trading on a positive note Friday, following rise in the US stocks in the overnight trade. At 08:35 am, the Nifty futures on the Singapore Exchange (SGX) traded 56 points or 0.51 per cent higher at 10,976, indicating a firm start for the Nifty50 index back home.
 

HUL Q3 net profit rises 8.9% to Rs 1,444 crore; volume growth at 10%

The country’s largest consumer goods company, Hindustan Unilever (HUL), on Thursday delivered its fifth straight quarter of double-digit volume growth for the three months ended December 2018 at 10 per cent, as the firm reined in price hikes amid a challenging macro-economic environment.
 
Analysts had factored in volume growth of 8-10 per cent for the quarter under review, implying the figure was in line with Street estimates. However, net profit growth was the slowest in over a year at 8.9 per cent to Rs 1,444 crore, as the company had a higher tax outgo of Rs 510 crore for the quarter versus Rs 297 crore in the year-ago period. READ MORE
HUL CFO Srinivas Phatak and HUL CEO & MD Sanjiv Mehta. Photo: Kamlesh Pednekar

RIL Q3 net profit up 8.8% to Rs 10,251 cr on petrochem, retail, telecom

Oil to telecom conglomerate Reliance Industries Limited (RIL) reported a net profit of Rs 10,251 crore for the December quarter, a rise of 8.8 per cent, helped by record performance in its petrochemicals, retail and telecom businesses. With this, it became the first private sector Indian company to cross the Rs 10,000 crore profit mark.
 
For the December 2018 ended quarter, the company reported a consolidated net profit of Rs 10,251 crore against Rs 9,420 crore in the same quarter a year back. Consolidated revenue in the same quarter grew 55.9 per cent to Rs 1.71 trillion. In a Bloomberg poll, eight analysts estimated a consolidated revenue of Rs 1.4 trillion for the quarter under review and a net profit of Rs 9,609 crore. READ MORE
Reliance Industries

SGX Nifty

Nifty futures on Singapore Exchange (SGX) were trading at 10,976 up 56 points or 0.51 per cent in early trade.
Asian Markets

Asian stocks gained early on Friday, as hopes for a thaw in the US-China trade conflict fed investor appetites for risk assets.

MSCI's broadest index of Asia-Pacific shares outside Japan added 0.25 per cent. The index has gained nearly 1 per cent this week. Australian stocks rose 0.6 per cent, as did South Korea's KOSPI while Japan's Nikkei gained 0.7 per cent.
Wall Street

US stocks advanced on Thursday as hopes of an expedient resolution to the trade war between the United States and China boosted industrial shares and lifted investor sentiment.
 
The Dow Jones Industrial Average rose 163.01 points, or 0.67 per cent, to 24,370.17, the S&P 500 gained 19.86 points, or 0.76 per cent, to 2,635.96 and the Nasdaq Composite added 49.77 points, or 0.71 per cent, to 7,084.46.
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