It is a flat start for the Indian Indices with Nifty hovering around 10650 level.
The Sensex is up 51.90 points at 35550.34, while Nifty is up 15.40 points at 10656.40. About 497 shares have advanced, 249 shares declined, and 37 shares are unchanged.
Gainers include Jet Airways, Ambuja Cements, Dr Reddy's Lab, Sun Pharma, Grasim, JSW Steel, Hindalco, Emami, while losers are Indiabulls Housing, Wipro, HDFC, Adani Port and IDFC.
Benchmark indices started the week on a negative note with the Nifty falling for the seventh consecutive session on February 18. Consistent outflow of FII money along with geo-political tensions also dented market sentiment.
The 30-share BSE Sensex tumbled 310.51 points to end at 35,498.44 while the Nifty50 slipped 83.40 points to 10,641 and formed a bearish candle.
Going ahead, 10,610-10,583 is the key support zone to watch out for, he said, adding expansion in the daily Bollinger Bands suggests that an accelerated selling can be witnessed once the support zone breaks on closing basis. key resistance levels to watch out are 10,724.47 and then 10,807.93.
Rupee Opens :
Rupee loses 11 paise to end at 71.34 vs USD on crude oil scare
The rupee weakened by 11 paise to end 71.34 against the US dollar Monday amid firming crude oil prices and persistent foreign fund outflows. Heavy selling in domestic equity markets also weighed on the rupee, forex traders said.
This is the fourth straight session of loss for the domestic currency, during which it has depreciated by 64 paise. At the Interbank Foreign Exchange (forex) market, the domestic unit opened weak at 71.35 and declined further to 71.52.
Global Markets :
China's vice premier to visit United States for trade talks this week
Chinese Vice Premier Liu He will visit Washington on Thursday and Friday to continue trade negotiations with the United States, the Commerce Ministry in Beijing said.
Liu will meet US Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer, the ministry said in a short statement on Tuesday. It gave no other details.
SGX Nifty
Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 28.5 points or 0.27 percent. Nifty futures were trading around 10,681 -level on the Singaporean Exchange.
Asian shares hover near four-month high, buoyed by trade optimism
Asian shares hovered near a four-month peak on Tuesday, supported by hopes that Sino-US trade talks were making positive progress and expectations of policy stimulus from central banks.
MSCI’s broadest index of Asia-Pacific shares outside Japan was little changed in early trade, staying near Wednesday’s four-month peak while Japan’s Nikkei was almost flat.
Crude update:
Brent crude oil prices eased away from 2019 highs on Tuesday on caution that economic growth may dent fuel demand this year, although supply cuts led by producer cartel OPEC still meant markets were relatively tight.
US oil prices hit 3-month high amid OPEC-led output cuts
US oil prices hit a three-month high on Tuesday, buoyed by production cuts led by the Organization of the Petroleum Exporting Countries. US West Texas Intermediate (WTI) crude futures were at $55.95 per barrel at 0034 GMT, up 36 cents, or 0.7 percent, from their last settlement. Earlier in the session, they marked their strongest since November 20 at $56.33 a barrel.
Domestic Markets :
E-commerce sector to touch $200 bn by 2027 now
With the new foreign direct investment (FDI) rules regarding online marketplaces and the emergence of offline to online model, the e-commerce sector is expecting to now clock $200 billion by 2027, from its initial forecast of 2026.
"The new regulations released in December 2018 strive to tighten the functioning of ecommerce companies in India to ensure those with FDI holdings operate as pure marketplaces without any equity interest or control on seller entities or mandatory exclusivity clauses.
We believe these regulations will pose headwinds to growth in the near term as some of the prominent companies restructure their businesses, processes and contracts, to be compliant.
RBI to inject Rs 12,500-cr liquidity via OMOs on Thursday
The Reserve Bank of India (RBI) Monday said it would inject Rs 12,500 crore into the system through purchase of government securities on Thursday to
increase liquidity. The purchase will be made through open market operations (OMOs).
"Based on an assessment of prevailing liquidity conditions and also of the durable liquidity needs going forward, the RBI has decided to conduct purchase of...government securities under OMOs for an aggregate amount of Rs 125 billion on February 21, 2019," the RBI said in a release.
The eligible participants should submit their offers in electronic format on the RBI core banking solution (E-Kuber) system on February 21.
Results on February 19:
Valecha Engineering, Asahi Industries, Linde India, Imec Services, Shailja Commercial Trade.
Here are stocks that are in the news today:
Power Grid Corporation: Board accorded investment approval for 'Northern Region System Strengthening - XL' at an estimated cost of Rs 572.98 crore with commissioning schedule of 22 months from the date of investment approval.
Suditi Industries: Company executed the license contract with PSG Merchandising, a French simplified limited liability company. Accordingly they have granted company the right to use Paris Saint-Germain''s intellectual property rights for commercial purposes.
Cyient: Company launched its connected equipment offering for OEMs and equipment owners and operators.
Infosys paid a settlement amount of Rs 34.35 lk in respect of settlement
Emami Group promoters divest 10% stake for Rs 1600 crore in Emami
Mindtree - IT Dept withdraws provisional attachment order for the transfer or charge of 22,20,000 and 52,70,000 equity shares of Mindtree by Coffee Day Enterprises and V G Siddhartha, held by them respectively
NLC India joins hands with NHPC on power trading
IL&FS Transportation Networks: Interest due and payable on February 18 on the NCD was not paid to the debenture holders due to insufficient funds.
Bodal Chemicals: Company has restarted remaining of dye intermediate and dyestuff operations.
Ambuja Cements December quarter: Consolidated profit jumps to Rs 1,378 crore versus Rs 478 crore on tax credit; revenue Rs 6729 crore versus Rs 6173 crore YoY. Board recommended a final dividend on equity shares at the rate of Rs 1.50 per share.
Shriram Transport bought back Secured Redeemable Non-Convertible Debentures issued on private placement basis
VMart opened a new store in the state of Uttar Pradesh
NTPC appointed K. Sreekant as Director Finance
Grasim Industries: Company to acquire the chlor-alkali business of KPR Industries (India) by way of a slump sale, for a cash consideration of Rs 253 crore. KPR Industries would utilize Rs 253 crore towards a full and final settlement of the lenders' dues under a one-time settlement.
Tata Steel: Subsidiary T S Global Minerals Holding Pte Ltd concluded the divestment of its entire stake in Black Ginger to IMR Asia Holding Pte Ltd.
Cipla: Subsidiary Goldencross Pharma Private Limited has signed an agreement to acquire 11.71 percent stake in Wellthy Therapeutics Private Limited.
Cipla: Company received a share of the South African Government's National ARV tender for TEE (comprising tenofovir, emtricitabine and efavirenz) and TLD (a combination of tenofovir (TDF), lamivudine (3TC) and dolutegravir (DTG)).
Jet Airways Clarification on media reports: Company would continue to work for its stake sale in Jet Privilege Private Limited at an appropriate time, as part of its turnaround plan.
63 Moons: Company filed damage suits of Rs 10,000 crore against P Chidambaram, KP Krishnan & Ramesh Abhishek, for taking mala fide actions against company by abusing their power
Wipro: Company launched QuMiC to accelerate migration to Oracle Cloud.
Mangalam Cement: Company received in-principal approval for amalgamation of Mangalam Timber Products with company.
Dishman Carbogen: Founder Janmejay Vyas steps down as MD. Global MD Arpit Vyas takes over founder's duties.
Future Consumer: Company entered into agreement with Middle East firm, T Choithrams, for supermarket chain.
Bulk Deals on February 18
Dev Info Technology: Academy for Computer Training Guj Private Limited bought 28,500 shares of the company at Rs 74.54 per share on the NSE.
Suumaya Lifestyle: Bimalkumar Rajkumar Bansal sold 3,44,000 shares of the company at Rs 31 per share on the NSE.
Tara Jewels: Punjab National Bank sold 2,00,000 shares of the company at 50 paise per share.
Viji Finance: Vijay Kothari sold 7,10,528 shares of the company at 83 paise per share.
Analyst or Board Meet/Briefings
Merck: Board meeting will be held on February 27 to consider the audited financial results for the financial year ended December 2018 and to consider
recommendation of dividend, if any.
Indian Hotels Company: Company is organizing Capital Market Day on February 19 in Mumbai. The said event is expected to be attended by chief investment officers and senior portfolio managers of financial institutions.
Punjab & Sind Bank: Extraordinary general meeting to be held on March 15, 2019.
Blue Star: Company's officials will be attending Kotak Institutional Equities - Chasing Growth 2019 Conference on February 19.
Crompton Greaves Consumer Electricals: Company's officials will be meeting analysts/investors on February 21-22.
Hindalco Industries: Company's officials will be attending Kotak Securities Limited, Chasing Growth 2019 Investors Conference in Mumbai on February 19.
Automotive Axles: Analyst/investor conference call has been organized on February 19 to discuss on the financial performance for third quarter FY19.
VST Tillers Tractors: Conference calls for the analysts and investors are scheduled to be held on February 19.
Shoppers Stop: One-on-one meeting with Lida Murayama, Fund Manager of Mitsubishi UFJ Kokusai Asset Management Co, Ltd has been scheduled on February 19.
Emami: Senior management of the company will be participating in the UBS Consumer Reverse Roadshow 2019 in Mumbai to be held on February 20.
Satin Creditcare Network: Meeting of Working Committee of the Board of Director is scheduled for February 21 for the issuance of non-convertible debentures INR equivalent amount of upto 35,00,000 US dollars through private placement.
Aster DM Healthcare: Company will be participating in the Kotak Conference on February 21, at Mumbai.
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