NIFTY ended at record closing high for second consecutive week, thanks to Financial stocks


updated 6:05 pm

How well the EQSIS recommendations performed today 3 August?

Market Sentiment: We concluded the market sentiment as bullish as NIFTY opened higher from the previous closing and was grinding higher staeadily.

1. EQSIS Intra: Long AXISBANK above 558.35 Target 563.7 Stop below 553 CMP 557

This call was the first pick in the morning as this stock was performing well along with the banking sector.

Result: Target

This call was initiated in the afternoon with good volume and gained momentum to acheive the target with few minutes.

2. EQSIS Intra: Long JUBLFOOD above 1454 Target 1469 Stop below 1439 CMP 1452

This call was performing well as FMCG sector was very bullish and this stock was extending gains from the previous session.

Result: Negative

This call was initiated with good volume as expected and was grinding higher steadily but unfortunately failed to achieve the target and ended around the entry point the market closing time.


updated 6:00 pm

Top Stocks To Watch On Monday 6 August

IBULHSGFIN surged by 6.08% and closed at Rs.1377.5. Trading volume hiked by 216 percent at last session. There is an evidence of bullish trend formation. The strength of the buyers is acknowledged by the todays gap.This stock is currently settled above the recent resistance zone. We see short term support around 1124.

ADANIPOWER surged by 7.2% and to close at Rs.32. At the same time it registered significant percent on the weekly basis. Derivative traders were aggressive in exiting short positions. Open interest reduced by 3.65 %. This stock is currently settled above the recent resistance zone. We see short term support around 16.

RCOM surged by 5.74% and ended at Rs.15.65. Trading volume spiked by 253 percent at last session. But most of the trades are intraday in nature. It gives an impression of bullish trend formation. This stock is currently settled above the recent resistance zone. We see short term support around 12.

DHFL gained by 3.88% and closed at Rs.625.7. . It did rise in the last trading session, but fell by a significant margin on a weekly basis. Derivative traders were aggressive in exiting short positions. Open interest reduced by 2.64 %. It is oscillating nearer to its resistance zone of 630.

CANBK gained by 3.79% and settled at Rs.290.35. It is one among the top traded stocks. Derivative traders were aggressive in adding long positions. Open interest gained by 9.96 %. This stock is currently settled above the recent resistance zone. We see short term support around 223.

GLENMARK volume hiked by 90 percent on Friday. But numerous trades were intraday in nature. It is heading for bullish breakout. It is steadily advancing for 3 days. This stock is currently settled above the recent resistance zone. We see short term support around 549.

JETAIRWAYS plunged by 6.9% and to close at Rs.308.3. Trading volume inflated by 380 percent on 3 August 2018. Yet numerous trades were settled intraday. Currently it is trading around the lower range of its price band. The crucial support zone is around 300.

VEDL gained by 3.85% and settled at Rs.222.4. Trading volume rose by 82 percent at last trading day. Derivative traders were aggressive in exiting short positions. Open interest reduced by 4.22 %. It is oscillating nearer to its resistance zone of 228.

TORNTPHARM surged by 6.54% and finished at Rs. 1622.65. Trading volume hiked by 715 percent. It is likely to witness positive breakout. This stock is currently settled above the recent resistance zone. We see short term support around 1409.

CUMMINSIND surged by 6.36% and finished at Rs. 703.3. Trading volume inflated by 288 percent. It suggest for bullish trend formation. This stock is currently settled above the recent resistance zone. We see short term support around 624.

ASHOKLEY weakened by 1.7% and ended at Rs.118.2. It is one among the top traded stocks. It is continuously advancing for 3 days. It is trading inside the trading range. The Support is seen around 107 and resistance is seen around 136.

AXISBANK surged by 5.03% and ended at Rs.574.75. Trading volume spiked by 104 percent. There could be bullish breakout. This stock is currently settled above the recent resistance zone. We see short term support around 515.

UBL volume increased by 100 percent at last trading day. The technical indicator RSI indicates oversold scenario.It is trading inside the trading range. The Support is seen around 1051 and resistance is seen around 1204.


updated 6:18 pm

Closing Bell: The NSE Nifty 50 advanced 1.03% percent to settle at 11360.80 on Friday. India equity benchmarks snapped two day losing streak and surged above 11,300-mark led by wide spread gains across all sectors in the last trading session of the week. On the weekly basis, NIFTY advanced 0.7 percent and ended at record closing high for the second day in a row.

All sectoral gauges compiled by NSE were trading higher led by the NIFTY PSU BANK, NIFTY METAL, NIFTY FIN SERVICE, NIFTY PVT BANK and NIFTY BANK indexes as top gainers.

From the NIFTY50 basket of shares IBULHSGFIN, AXISBANK, VEDL, YESBANK and GAIL outperformed as top gainers while TECHM, TATAMOTORS, GRASIM, HEROMOTOCO and INDUSINDBK are top losers.


updated 3:00 pm

Earnings Highlights

Titan  Company Limited

  • The Company reported a growth of 31.4% in profit before tax for the quarter.
  • The sales income grew from RS.4002 crores last year to Rs.4269 crores in Q1. The profit before tax for the same period grew from Rs.371 crores to Rs.487 crores.
  • The Jewellery division recorded an income growth of 5.6% in the first quarter. The income from
    this division in Q1 was Rs.3572 crores as against Rs.3381 crores last year.
  • The Company’s other businesses comprising accessories, fragrances and sarees grew by 31.5%, to Rs.26 crores this year.

Nestle India Ltd

  • The topline grew to Rs  crores in Q1,2019 from Rs 5572 crores in Q1,5159 .
  • Net profit after tax grew to Rs 819 crores in Q1,2019 from Rs 570 crore in Q1,2018.
  • Earnings per share remained at to Rs 85  in Q1,2019 from Rs 59 Q1,2018.

updated 2:15 pm

Financial Sectors On A Bull Run

All NSE sectors barring cement were trading higher led by gains in Banking and Non-Banking Financial sectors.


updated 2:00 pm

Afternoon Market Update: The NSE Nifty 50 advanced 0.79 percent to 11333.85 in the afternoon trade on Friday. India equity benchmarks snapped tow day losing streak and trading firmly higher above 11,300-mark led by wide spread gains across all sectors in the last trading session of the week.

All sectoral gauges compiled by NSE were trading higher led by the NIFTY PVT BANK, NIFTY METAL and NIFTY MEDIA indexes as top gainers.

Global Market Check: European markets opened higher today tracking Asian markets which closed mixed to higher on Friday as strong corporate results boosted investors sentiment.


updated 1:55 pm

Earnings Highlights

VIP Industries

  • The topline grew to Rs 519 crores in Q1,2019 from Rs 402 crores in Q1,2018 on consolidated basis .
  • Net profit after tax grew to Rs 63 crores in Q1,2019 from Rs 40 crore in Q1,2018 on consolidated basis.
  • Earnings per share remained at to Rs 4.48  in Q1,2019 from Rs 2.9 Q1,2018 on consolidated basis.

updated 10:55 am

Reliance Industries Limited – Acquisition

  • Reliance Industries Limited has informed the Exchange that Reliance Brands Limited, a subsidiary of the Company, has purchased an additional 2.36% equity stake in Genesis Colors Limited (GCL) for about Rs. 9.89 crore, taking its total stake in GCL to 11.65 %.

updated 9:25 am

Earnings Reaction To Watch

Marico

  • The topline grew to Rs 2050 crores in Q1,2019 from Rs 1714 crores in Q1,2018  .
  • Net profit after tax grew to Rs 260 crores in Q1,2019 from Rs 235 crore in Q1,2018 .
  • Earnings per share showed a significant growth to Rs 1.98  in Q1,2019 from Rs 1.8 Q1,2018.

Ramco Cements Ltd

  • The topline grew to Rs 1224 crores in Q1,2019 from Rs 1194 crores in Q1,2018  .
  • Net profit after tax grew to Rs 1054 crores in Q1,2019 from Rs 89 crore in Q1,2018 .
  • Earnings per share remained at to Rs 24.73  in Q1,2019 from Rs 19.08 Q1,2018.

Indiabulls Housing Finance

  • The topline grew to Rs 4071 crores in Q1,2019 from Rs 3288 crores in Q1,2018  .
  • Net profit after tax grew to Rs 124 crores in Q1,2019 from Rs 155 crore in Q1,2018 .
  • Earnings per share remained at to Rs 5  in Q1,2019 from Rs 7 Q1,2018.
  • Return on equity remained at 30% in FY 2018 and loan asset growth remained 29% CAGR for past 7 years.

Earnings To Watch

  • Titan
  • Bank of Maharashtra
  • Berger Paints
  • BSE
  • Nestle India
  • Shipping Corp.
  • Steel Authority of India
  • VIP Industries

updated 9:15 am

Top News Of The Day

Volume Growth At 5-yr High

  • Volume growth of FMCG, auto companies at 5-yr high as the favourable base, improving rural market sentiment drive up the sales

Capacity Utilisation At Two Year High

  • Corporate production capacities are at a two year high at 75.2% in Q1,2018 and new investments for expanding the capacity are in the pipeline,

Revival Of Power Sector

  • NTPC said that power sector is seeing a revival in demand. Since power sector has added pile of bad loans in the past there seems to be demand for power in larger high cost plants.

updated 8:50 am

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