NIFTY ended flat amid unhelpful global cues
updated 7:00 pm
Top Stocks To Watch On Thursday 12 July
VEDL is the most active stock. It signals The momentum of the bears is indicated by the todays gap.It is trading below its recent support zone. The Near term resistance is seen around 243.
UPL plunged by 5.28% and ended at Rs.603.45. Trading volume hiked by 109 percent on Wednesday. It gives an impression of bearish breakout. Derivative traders were aggressive in adding short positions. Open interest increased by 5.55 %. It is trading below its recent support zone. The Near term resistance is seen around 697.
TATAELXSI gained by 3.77% and to close at Rs.1445. Trading volume rose by 186 percent at last session. But majority of them are settled intraday. It Indicates positive breakout. It is steadily advancing for 3 days. This stock is currently settled above the recent resistance zone. We see short term support around 1278.
BAJAJ-AUTO advanced by 2.19% and ended at Rs.3161.6. Meanwhile it secured a remarkable margin in last five session. Trading volume inflated by 69 percent at last session. It Indicates bullish trend formation. It is continuously climbing for 4 days. This stock is currently settled above the recent resistance zone. We see short term support around 2752.
ADANIPOWER surged by 17.58% and ended at Rs.20.4. Meantime it reported an exceptional percent over a recent days. Trading volume spiked by 984 percent at last trading day. But largely the volumes are settled intraday. There could be bullish trend formation. Derivative traders were aggressive in adding long positions. Open interest gained by 17.44 %. This stock is currently settled above the recent resistance zone. We see short term support around 15.
ADANIENT surged by 8.76% and finished at Rs. 124.1. Also it registered significant margin over a recent days. Trading volume spiked by 259 percent at last trading day. But most of the trades are settled intraday. Derivative traders were aggressive in adding long positions. Open interest surged by 36.15 %. It is steadily climbing for 3 days. It is oscillating nearer to its resistance zone of 136.
updated 6:50 pm
Closing Bell: The NSE Nifty 50 index little changed 0.01% to finish at 10948.30. Indian equity benchmark NIFTY ended the volatile session little changed as the gains in Information Technology stocks were capped by losses in Metal stocks on Wednesday.
Eight out of 11 sector gauges compiled by NSE were trading lower led by NIFTY METAL, NIFTY PSU BANK, NIFTY AUTO and NIFTY PHARMA as top losers while NIFTY IT and NIFTY FMCG are top gainers.
From the NIFTY50 basket of shares UPL, COALINDIA, HINDALCO, VEDL and TATAMOTORS underperformed as top losers while TCS, INFRATEL, BAJAJ-AUTO, HINDUNILVR and RELIANCE are top gainers
updated 12:06 pm
Lupin Limited has informed the Exchange regarding expanding collaboration between Lupin Limited and Boehringer Ingelheim India for co-marketing of two oral anti – diabetic drugs
updated 12.01 pm
Dr. Reddy’s Laboratories Limited has informed the Exchange regarding the launch of Hydroxychloroquine Sulfate Tablets, USP in the U.S. Market
updated 11:55 am
Tata Power Company Limited has informed the Exchange that ,Tata Power company is to develop 250 MW Solar Project in Karnataka
updated 10:55 am
Market Update: The NSE Nifty 50 index advance 0.18 percent to 10966.65 in the first hour of trade. Indian equity benchmarks trading higher above 10950-mark as investor momentum boosted by the better than expected corporate earnings.
Eight out of 11 sector gauges compiled by NSE were trading higher led by gains in NIFTY IT.
Global Market Check: Asian Markets trading mixed taking cues from the overnight U.S. markets which finished mixed as trade war concerns returned to focus following the release of a list of an additional $200 billion in Chinese goods on which the U.S. is considering imposing tariffs.
updated 9:10 am
Earnings Reaction To Watch
- TCS Ltd beats the market expectation as its total revenue clocked at $5.05 billion and its Net profit remained at $1.08 billion .
- The operating profit margin increased to 25% and the net profit margin remained at 21.4%.
- TCS Ltd reported a dollar growth of 9.3% year on year and 4.1% on quarter on quarter basis.
- TCS’s largest sectors – Banking,Finance and insurance clocked the growth of 3.7% on quarter on quarter basis.
- Indusind Bank showed the top line growth of 8.7% on YoY basis to 6369 crores.
- Profit after tax grew at 8.6% on YoY basis to 1035 crores.
- The net NPA remained stagnant at 0.51% and capital adequacy ratio remained at 14.7
updated 8:58 am
Top News of the Day
Oil Prices Rise
- Oil prices rise above $79 with Norway shutting down one oilfield as hundreds of workers began a strike and Libya saying its production more than halved in recent months.
Volatility in Currency
- Increasing crude prices and trade tension adds to volatility of currency, extending in loss of rupee.
- Indian currency traded at Rs 68.77 to $1.
New appointment – Lupin
- Lupin appoints Yashwant Mahadik as new global HR head. Mahadik has three decades of experience across diverse sectors and will be reporting directly to the CEO Vinita Gupta.
Fund Raising – Airtel
- Airtel plans to raise $1 billion in overseas loan to expand its business and be competitive in the Telcom industry.