Nifty stages smart recovery despite weakness in Asian peers
How well the EQSIS recommendations performed today 14 May?
1. EQSIS Intra: Long ITC above 293.75 Target 296.6 Stop below 291.5 CMP 293
2. EQSIS Intra: Long ICICIBANK above 382.5 Target 386.9 Stop below 379 CMP 381
Closing Bell: Nifty stages smart recovery despite weakness in Asian peers
The benchmark index Nifty closed at 11,222, up 73 points or 0.66 per cent higher. The NSE Nifty snapped their nine-day losing streak led by gains in Reliance Industries, ITC, Larsen & Toubro, State Bank of India and ICICI Bank. However, negative sentiment in the Asian peers capped the gains.
Among sectoral indices, only Nifty IT index ended the day in red, down over 1 per cent, while the Nifty PSU Bank index made the maximum gain, up almost 3 per cent, followed by pharma, realty and banking indices.
Nifty Top Gainers/Losers
Market update: Nifty Stages Sharp Recovery
The Nifty 50 index climbed 40 points to 11,188. Key equity index nifty staged a sharp recovery from intraday low levels in last one hour of trade led by banking, pharma and FMCG stocks.
Morning Update: Nifty hovers around 11,150 mark; Media, realty stocks decline
The NSE Nifty50 were trading 19 points lower at 11,128 on Tuesday. The benchmark index nifty were trading on a flat note today amid a drop in global markets, foreign outflows and rising oil prices. Among sectors, Nifty Realty lost the most in the morning trade, down over 1 percent. Meanwhile, Nifty Auto and Nifty Media also slipped 0.7 percent. Nifty Pharma, Nifty Bank, on the other hand, gained in the morning deals.
Top gainers in early session were Vedanta, Sun Pharma, Adani Port, Gail, Reliance, IndusInd Bank, ITC, Bharti Airtel, PowerGrid rising up to 2.33 per cent.
On the other hand, Eicher Motors, Bajaj finance, Bajaj Auto, Asian Paints, Tata Steel, Grasim and Tech Mahindra were among the top losers, shedding up to 2.41 per cent.
FII & DII data
Foreign Institutional Investors (FIIs) sold shares worth Rs 1248.57 crore while Domestic Institutional Investors (DIIs) bought Rs 1,057.91 crore worth of shares in the Indian equity market on 13th May.
Earnings To Watch
- Zee Media Corporation
- Pidilite Industries
- UCO Bank
- Indian Bank
Earnings Reaction To Watch
- Total revenue grew to Rs 12946 crores in Q4 FY19, an increase from Rs 11329 crores in Q4 FY18.
- Net profit after tax to Rs 3481 crores in Q4 FY19, an increase from Rs 2932 crores in Q4 FY18.
- Earnings per share to Rs 2.8 in Q4 FY19, an increase from Rs 2.4 in Q4 FY18.
Muthoot Finance Ltd
- Total revenue grew to Rs 18797 crores in Q4 FY19, an increase from Rs 1643 crores in Q4 FY18.
- Net profit after tax to Rs 511 crores in Q4 FY19, an increase from Rs 508 crores in Q4 FY18.
- Earnings per share to Rs 12.7 in Q4 FY19, an increase from Rs 12.6 in Q4 FY18.
Top News Of The Day
Car Sales Losses Its Mileage
- Passenger vehicle sales declined 17% to 247,541 units in April from a year earlier as high insurance costs and tight liquidity in the market hurt demand,
Deloitte Haskins & Sells and KPMG Are In Trouble
- The board of Infrastructure Leasing & Financial Services Ltd issued notices to Deloitte Haskins & Sells and KPMG’s audit partner BSR & Co, asking why they should not be removed for allegedly failing to highlight shortcomings while reviewing the books of subsidiary IL&FS Financial Services.
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