Daily stock market roundup

NIFTY rose for the third day in a row amid Geopolitical concerns. The 50-share NSE index NIFTY rose 0.22% to finish at 10741.70 on Wednesday. The Indian benchmark NIFTY rose for the third day in a row led Information Technology stocks but gains were capped by oil marketing companies following a jump in global oil prices. The investors took a cautious stance as sentiment in India is majorly influenced by the global market sentiment today.

Looking overseas, European markets trading mixed to higher following Asian markets which finished mixed to higher on Wednesday. The global equity markets are mixed today as global oil prices jumped following President Donald Trump’s decision to withdraw from the Iran nuclear deal.

Among sector gauges compiled by the NSE NIFTY IT, NIFTY PVT BANK and NIFTY BANK excelled as top gainers while NIFTY PSU BANK, NIFTY PHARMA, and NIFTY MEDIA are top losers.

From the NIFTY 50 basket of shares, TATAMOTORS, TITAN, TATASTEEL, YESBANK, and UPL outperformed as top gainers while ULTRACEMCO, BPCL, LUPIN, BAJFINANCE, and HINDPETRO are top losers.

Top stocks to watch on Thursday 10 May

TATAMTRDVR: This stock gained by 3.89% and ended at Rs.197.45. This stock trading volume hiked by 271 percent with 55% of the trades gone for delivery. Derivative traders were aggressive in exiting short positions and Open interest reduced by 6.34%. This stock is oscillating nearer to its resistance zone of Rs.205.

POWERGRID: This stock trading volume hiked by 64 percent with 85% of the trades are taken for delivery. This stock is currently settled above the recent resistance zone and the short-term support is around Rs.195.

PCJEWELLER: This stock strengthened by 3.21% and settled at Rs.208.8. This stock is listed in top traded counters with numerous intraday trades.  This stock is trading inside the trading range and the support is seen around Rs.126 and resistance is seen around Rs.313.

NTPC: This stock trading volume rose by 189 percent with 85% of the trades are taken for delivery.  This stock is currently trading around the lower range of its price band and the crucial support zone is around Rs.168.

IDBI: This stock advanced by 2.08% and ended at Rs.68.6. This stock trading volume inflated by 55 percent with numerous trades were intraday trades. This stock is trading inside the trading range and the support is seen around Rs.64 and resistance is seen around Rs.74.

FEDERALBNK: This stock dropped by 2.22% and to close at Rs.101.15. This stock is trading volume increased by 144 percent with numerous trades were intraday trades. This stock is oscillating nearer to its resistance zone of Rs.103.

AXISBANK: This stock is one among the top traded stocks with numerous intraday trades. Derivative traders were aggressive in adding long positions and Open interest surged by 4.68%. This stock is oscillating nearer to its resistance zone of Rs.551.

ARVIND: This stock surged by 4.37% and settled at Rs.438.4. This stock trading volume spiked by 1095 percent with most of the trades are intraday in nature. This stock is currently settled above the recent resistance zone and the short-term support is around Rs.404.

AMBUJACEM: This stock trading volume increased by 44 percent with 68% of the trades gone for delivery. Derivative traders were aggressive in adding short positions and Open interest increased by 17.64%. This stock is trading below its recent support zone and the near-term resistance is seen around Rs.251.

AMARAJABAT: This stock advanced by 2.21% and settled at Rs.888.45. This stock trading volume rose by 89 percent with most of the trades are intraday in nature. This stock is currently settled above the recent resistance zone and the short-term support is around Rs.804.

Eicher Motors – Q4 Result Insights

  • Total consolidated revenue grew to Rs 2612 crores in this quarter, an increase of 19.43% from march quarter previous year.

  • Total profit remained flat at Rs 461 crores in this quarter and it was Rs 459 crores in march quarter last year.

  • Earnings per share also remained flat at Rs 169 in this quarter and it was at Rs 168 in march quarter last year.

  • Net profit remained at 17.6% in this quarter and it was 20% in March quarter last year.

  • The board recommended a dividend of Rs. 110 per equity share (face value of Rs 10 each) for the financial year ended March 31, 2018.

Viewpoint: Royal Enfield, the bike making a brand of Eicher, saw 27% rise in volumes during the quarter to 227,042 units as against 178,228 units clocked in the same quarter in FY17.  Demand in bikes seems to a positive sign for the further growth of the company, which is investing in the manufacturing of automobiles to trigger future growth.