Wednesday 6 February 2019

IDEAL STOCK MARKET UPDATE | MARKET OPENS

It is a flat start for the benchmark indices on Thursday morning with Nifty holding above 11,050 level.

At 09:17 hrs IST, the Sensex is up 51.30 points at 37026.53, while Nifty is up 12.70 points at 11075.20. About 415 shares have advanced, 368 shares declined, and 38 shares are unchanged. 

Manappuram Finance, Jet Airways, Grasim, Zee Entertainment, Tata Motors, Cipla, Sun Pharma are some of the early gainers, while losers are JSW Steel, Vedanta, Tata Steel, Lupin, Cummins, Punj Lloyd, Rel Infra, Adani Power, Bombay Dyeing, Vodafone Idea, JSPL, IDFC, Allahabad Bank.

Global Markets 
SGX Nifty:
Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 31 points or 0.28 percent. Nifty futures were trading around 11,074-level on the Singaporean Exchange.

Wall Street ends lower :
US stocks edged lower on Wednesday as videogame makers gave disappointing revenue forecasts and investors awaited developments on US-China trade relations.

Asian markets trade mixed:
Asian share markets were in a muted mood on Thursday and looked set for a sleepy session with China still on holiday and no major economic data on the diary.

Rupee opens tad lower at 71.72 per dollar ahead of RBI meet,
Rupee ahead of the important RBI policy statement is consolidating in range of 71.40 and 72.20 and most market participants are expected to remain cautious ahead of the new RBI governor’s statement. Expectation is that the RBI could consider cutting rates by 25bps and what will be important to watch is whether the central bank does change its stance. This will be the first policy meeting of the new RBI governor and expectation is that the governor may adapt to a more dovish stance as compared to the earlier one

Domestic Markets :
Results Today: Tata Motors, Adani Enterprises, Aurobindo Pharma, Britannia Industries, Cadila Healthcare, Coffee Day Enterprises, Eros International Media, Grasim Industries, Hindustan Construction Company, Ircon International, MRF, Khadim India

RBI Central Board meeting deferred to February 18
Here are the stocks that are in news today :
JSW Steel : Q3 net profit down 10% to Rs 1,603 crore, hurt by steep fall in exports,  compared to Rs 1,774 crore in the year-ago period.

Glenmark Pharmaceuticals : receives tentative ANDA approval for Fulvestrant Injection, 250 mg/5 mL (50 mg/mL)
Majesco : announces launch of its rights offering
Fortis Malar Hospitals Q3:Â Net profit at Rs 1.6 crore Vs Rs 0.9 cr (YoY)
Manappuram Finance Q3:Â Net profit up 44.3% at Rs 247.2 cr Vs Rs 171.2 cr (YoY)
Future Consumer Q3:Â Net loss at Rs 5.4 cr Vs loss of Rs 6.1 cr (YoY)
Vimita Labs Q3:Â Net profit down 14.6% at Rs 5.1 cr Vs Rs 6 cr (YoY)
Control Point Q3:Â Net profit down 17.5% at Rs 5.2 cr Vs Rs 6.3 cr (YoY)
TBZ Q3:Â Net profit up 50% at Rs 11.1 cr Vs Rs 7.4 cr (YoY)
Vodafone Idea: The net loss has widened to Rs 5,004.6 crore during December quarter.
Indraprastha Gas: Net profit grows 6 percent at Rs 198 crore
Cummins India: Profit up 9 percent at Rs 187.1 crore.
UFO Moviez Q3:Â Net profit up 28% at Rs 14.6 cr Vs Rs 11.4 cr (YoY)
Kaya Q3:Â Net loss at Rs 0.4 Cr Vs loss of Rs 3.9 cr (YoY)
Grasim - ICRA assigned rating on NCD as ICRA AAA - Outlook Stable
Bajaj Electricals - CRISIL reaffirmed the long-term rating of [ICRA]A+
Ajanta Pharma - cash offer to buyback 7.69 lakh shares at Rs1300 per share

GAIL offloads pipeline laying contract of Bokaro-Durgapur section from M/s IL&FS
Andhra Bank revised base rate to 9.50% 
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