INSUBCONTINENT EXCLUSIVE:
Softening crude oil prices and recovery in the rupee cheered Dalal Street on Tuesday
The BSE Sensex closed 331 points, or 0.95 per cent, higher at 35,144, while NSE’s Nifty settled 100 points, or 0.96 per cent, up at
10,582.
“The Indian market staged a smart recovery, ending Tuesday’s session on a strong note, aided by some late recovery in key Asian
indices and positive European cues
A decline in crude oil prices and a sharp appreciation in the rupee against the dollar also boosted market sentiments,” said Jayant
Manglik, President of Religare Broking.
Here’s a lowdown on the key developments of Tuesday’s session: Earnings impact· Britannia:
Shares of the FMCG firm gained over 1 per cent after its posted a 16.09 per cent rise in consolidated net profit to Rs 303.03 crore for the
second quarter ended September 2018, led by a double-digit volume growth
It had posted a net profit of Rs 261.03 crore in the corresponding quarter last year
· Eicher Motors: Shares of Royal Enfield maker rallied over 5 per cent after the company on Monday reported 6 per cent increase in
consolidated profit after tax at Rs 548.76 crore in the second quarter ended September 30
It had posted a consolidated profit after tax of Rs 518.02 crore in the same quarter last fiscal.
· Coal India: Shares of Coal India ended
higher after the country’s largest miner posted an over eight-fold rise in consolidated net profit to Rs 3,085 crore for the quarter to
It had reported a net profit of Rs 370.4 crore in the July-September quarter of 2017-18
Shares of the company closed 0.51 per cent up at Rs 265.40.
Who moved my SensexReliance Industries, ICICI Bank, HDFC, Larsen Toubro, ITC
and Axis Bank contributed the most to the index gains
Other contributors included TCS, HUL, HDFC Bank and NTPC.
Spurt in open interestAllahabad Bank witnessed the biggest jump in open interest
contracts at 73.59 per cent, followed by Bank of India (43.95 per cent), Sun Pharma (26.41 per cent) and Apollo Tyres (24.65 per cent)
Most active stocksReliance Communications, Bank of India, Allahabad, Infibeam, PC Jeweller, NCC and GMR Infra were the most active stocks
Reliance Industries, State Bank of India, HDFC Bank, Jet Airways and Eicher Motors were among the most active scrips in terms of
value.
Call/Put writingOn the option front, maximum Put open interest (OI) stood at 10,000 followed by strike price 10,200 while maximum
Call OI was seen at 11,000 followed by strike price 10,800
Put writing was seen at 10,200 and 10,400 while Call unwinding was seen at all immediate strike prices
The option band signified an immediate trading range between 10,450 and 10,700 levels, said Chandan Taparia, Derivatives Technical Analyst,
Motilal Oswal Financial Services.
Expert speak
· Golden opportunity to start buying
There are two kinds of investors
One is the retail investor
He is anyway not much invested in equity
For him, this is a golden opportunity to start buying because whenever the retail investor has money, he should buy
He should not get into timing the market and these are the better times to build a portfolio, Arun Thukral, MD CEO, Axis Securities, tells
ET Now.
· NBFCs with solid business models would get stronger
On the NBFC side, under stress, the stronger business models would be
able to strengthen themselves
Stronger business models are those where assets’ duration and liabilities were more or less matched and did not mean significant increase
All these factors will really distinguish a quality business model from one that really came under stress on liquidity front, says Shilpa
Kumar, MD CEO, ICICI Securities, tells ET Now.
@fresh 52-week high/ lowAs many as 31 stocks on National Stock Exchange (NSE) scaled their
fresh 52-week low on Tuesday
Some of the stocks in the list included ABG Shipyard, Ashapura Intimates, Alchemist, Hinduja Ventures and Hotel Leela
On the other hand, Electrosteel Steels, Gallantt Metal, Linde India, Sakuma Exports and SMS Lifesciencs hit fresh 52-week high.
Sectoral
updateBarring consumer durables, healthcare and realty, other sectoral indices on BSE closed in green with SP BSE Oil Gas index rallyed1.85
It was followed by Capital Goods index (up 1.25 per cent) and Bankex (1.01 per cent).
Bullish crossover on 6 countersTechnical indicator
momentum indicator moving average convergence divergence, or MACD, signalled bullish crossovers on six counters on NSE
When the MACD crosses above the signal line, it gives a bullish signal, indicating that the price of the security may see an upward
The list included stocks such as Praj Industries, Meghmani Organics, Bhansali Engineering, Carborundum Universal, Hester Biosciences and
