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The index formed large bearish candle on the daily scale and could fall below 10,600 levels if it breaks crucial support of 10,630 levels in coming session, experts said. The Nifty50 extended downtrend on first day of the week and closed below psychological 10,700 levels Monday as investors may be cautious ahead of Interim Budget to be announced on February 1 and expiry of January futures & options contracts on January 31. The index fell 1.2 percent last week. The sell-off in banking & financials, FMCG and Pharma stocks pulled the market sharply lower while the broader markets continued to underperform frontliners. The Nifty Midcap index was down 2.1 percent and Smallcap index declined 1.8 percent. The index formed large bearish candle on the daily scale and could fall below 10,600 levels if it breaks crucial support of 10,630 levels in coming session, experts said. The Nifty50 opened marginally higher to hit an intraday high of 10,804.45, but immediately wiped o...

Dolat Capital said Maruti seems to take a hit on margins due to the increase in input cost and not being able to pass the hikes considering the competitive intensity. Maruti Suzuki India  shares crashed nearly 9 percent intraday to break its earlier 52-week low of Rs 6,501.65 touched on October 26, 2018, after sharp dip in third quarter earnings. The stock hit a fresh 52-week low of Rs 6,420 intraday today. It closed at Rs 6,516.35, the lowest closing level since April 27, 2017, down 7.4 percent on the BSE. The country's largest car maker said its profit for the third quarter fell 17 percent to Rs 1,489.3 crore YoY, impacted by the adverse commodity prices and forex rates. "Adverse commodity prices & foreign exchange rates, higher marketing & sales expenditure and higher costs in resources and capacities which were earlier planned to enable a higher estimated growth impacted the profitability," Maruti said. The impact was partially offset by the comp...

Nifty is in a range between 10,985–10,790 breach of which in either of the sides shall pave the way for a directional move. The Nifty50 closed rangebound session on a positive note Thursday and formed a 'Doji' kind of indecisive formation on daily candlestick charts. Positive global cues and the rally in Reliance Industries, TCS, HDFC and ITC helped the benchmark index end higher. The 8 percent rally in Yes Bank after the appointment of Ravneet Singh Gill as new MD & CEO also lifted sentiment. A 'Doji' is formed when the index opens and then closes approximately around the same level. However, it remains volatile throughout the trading day which is indicated by its long shadow on either side. The candle appears like a cross or a plus sign. A Doji usually means indecisiveness among the bulls as well as bears, hence there could be some consolidation in coming sessions before directional move on either side, experts said. The Nifty50 after opening ...

Nifty slide continues below 10,790 levels then based on this channel breakdown another 200 points fall can be expected with a initial target of 10,571 levels. The Nifty50 after rangebound trade fell sharply in last hour of trade on Wednesday and formed big bearish candle on the daily charts, weighed by index heavyweights HDFC Bank, Infosys, HDFC and Reliance Industries. ITC was the biggest loser, down over 4 percent after margin disappointment in Q3. The immediate crucial support for the index could be 10,790, experts said, adding if it breaks that level then there could be sharp fall in coming sessions. Overall index has got stuck in a broader trading range of 10,700 to 10,985 zones and requires a decisive range breakout for next leg of rally, experts said.The Nifty50 after opening flat remained rangebound, but started falling in last hour of trade and hit an intraday low of 10,811.95. The index closed 91.30 points lower at 10,831.50 after breaking its conso...

Earnings growth has been recovering, but we expect it to accelerate from H2FY19 onwards, and this should be the key driver for markets in 2019, says Sampath Reddy of Bajaj Allianz Life Insurance Company The Budget may cause some volatility in the near term, but we feel that the impact (if any) will be more short-term in nature, and the markets will move on to more fundamental factors, Sampath Reddy, Chief Investment Officer, Bajaj Allianz Life Insurance Company, said in an interview with Moneycontrol’s Kshitij Anand. Edited excerpts: Q. What is your expectations from the Interim Budget? Do you see this as nervousness ahead of the main event? A. The budget may cause some volatility in the near-term, but we feel that the impact (if any) will be more short-term in nature, and the markets will move on to more fundamental factors. Earnings growth has been recovering (albeit slightly below expectations), but we expect it to accelerate from H2FY19 onwards, and this shou...

Mazhar Mohammad of Chartviewindia.in advised traders to avoid long positions for the time being unless it registers a decisive breakout backed by favourable advance decline ratio suggesting broad based participation. The Nifty50 recovered from day's low but still ended in the red and snapped five-day winning streak on Tuesday, dragged by weak global cues. The index after rising more than 200 points in previous five consecutive sessions declined and formed 'Hanging Man' kind of pattern on the daily scale. A Hanging Man is a bearish reversal candlestick pattern which is usually formed at the end of an uptrend or at the top. In a perfect 'Hanging Man' pattern either there will be a small upper shadow or no upper shadow at all, a small body and long lower shadow. The Nifty50 after opening marginally lower at 10,949.80, which was also a day's high, extended losses to hit an intraday low of 10,864.15 in afternoon. The index managed to trim los...

The price hike and fall in raw material prices could support operational growth QoQ but it is likely to remain lower compared to year-ago due to use of high cost inventory Asian Paints  is likely to post double-digit growth in volume as well as revenue, but weak operating margin may limit profitability despite price hikes and lower cost of raw material YoY. Overall, brokerages expect the revenue to grow in the range of 12-17 percent year-on-year, driven by expected volume growth of around 12-13 percent for the quarter ended December 2018. For the quarter, Edelweiss Securities said it expects Asian Paints to report around 12 percent YoY volume growth on a base of 6 percent (Q2FY19 saw 11 percent volume growth on a base of 8 percent) and sales to grow 13 percent YoY. "The demand shift due to postponement in festive season should aid volumes coupled with a soft base. The total effective price hike of around 3.25 percent YoY should be seen for the quarter. Price...

Led by gains in RILNSE 4.50 % and IT giant Infosys, key benchmark indices rose over half a percent each on Monday.  This was the fifth consecutive session of gains for Indian stocks. After opening on a subdued note, the markets rose steadily on strong December quarter results from some of the index large caps.  Positive Asian markets added to risk-on behaviour, which rose on hopes of a stimulus from the Chinese government to support economic growth. China's growth slowed to a 2 8-year low in 2018 in the wake of lingering trade war with the US and slowing exports.  The BSE Sensex shut shop at 36,579, up 192 points or 0.53 per cent, with nine stocks in the green and 21 in the red. However, the upside was led by a handful of stocks, signalling underlying bearishness in markets.  Meanwhile, the NSE Nifty took out the crucial 10,950-mark that posed as a stiff resistance. The 50-share pack settled at 10,962, up 54.90 points or 0.50 per cent. A t...

During July-December 2018 period, eight companies fell into the mid-cap category from largecap, 13 moved from small-cap category to mid-cap category AMFI, in consultation with SEBI and stock exchanges, came out with its half-yearly list of stocks, based on the data provided by Bombay Stock Exchange (BSE), National Stock Exchange (NSE) and Metropolitan Stock Exchange of India (MSEI). The list has highlighted seven companies that have entered the largecap segment. According to AMFI, seven companies jumped from the mid-cap category into the large-cap category, based on listed companies’ average market capitalisation (cap) data in the six months ended December 31, 2018. The list includes  Indiabulls Ventures ,  Page Industries ,  Divi’s Laboratories ,  L&T Infotech ,  Berger Paints ,  United Breweries  and  GlaxoSmithKline Consumer Healthcare . During July-December 2018 period, eight companies fell into the mid...

The company also announced a bonus issue. Investors in Wipro will get one bonus share for every three shares held. Wipro   reported IT services revenue of Rs 14,665.6 crore for the December quarter, a rise of 2 percent compared to revenue of Rs 14,377.3 crore posted during the previous quarter. The earnings before interest and taxes was reported to be at Rs 2,909.4 crore, a jump of 12.5 percent quarter on quarter from Rs 2,586.3 crore. The IT services EBIT margin rose to 19.8 percent from 18 percent posted during the previous quarter. The constant currency revenue growth has been reported at 2.4 percent against 2.8 percent that the company posted during the previous quarter. The dollar revenue for IT services was posted at USD 2,046.5 million. The growth is comparatively flat as compared to previous quarter’s revenue at USD 2,041 million. The company also announced a bonus issue. Investors in Wipro will get one bonus share for every three shares he...

Reliance Industries | Hindustan Unilever | Lupin | Aurobindo Pharma | Rallis India | Cyient and L&T Technology Services are stocks which are in the news today. Reliance Industries  Q3: Consolidated profit grows 7.7 percent to Rs 10,251 crore versus Rs 9,516 crore, revenue increases 9.1 percent to Rs 1.56 lakh crore versus Rs 1.43 lakh crore QoQ. Reliance Jio  Q3: Profit jumps 22.1 percent to Rs 831 crore versus Rs 681 crore, revenue rises 12.4 percent to Rs 10,383 crore versus Rs 9,240 crore QoQ. Hindustan Unilever  Q3: Profit rises 8.9 percent to Rs 1,444 crore versus Rs 1,326 crore; revenue increases 11.3 percent to Rs 9,558 crore versus Rs 8,590 crore YoY. Volume growth unchanged at 10 percent (QoQ) & versus 11 percent YoY. AU Small Finance Bank  Q3: Profit rises 20.8 percent to Rs 95.3 crore versus Rs 79 crore; net interest income jumps 38.9 percent to Rs 348 crore versus Rs 250.4 crore YoY. L&T Technology Services  Q3: P...

The company posted revenue of Rs 9,558 crore during the quarter under review. It rose 11 percent compared to its previous year revenue of Rs 8,590 crore. Hindustan Unilever  (HUL) reported a growth of 9 percent (year-on-year) in its net profit for the December quarter. Profit was reported at Rs 1,444 crore against Rs 1,326 crore that the company reported last year. The company posted revenue of Rs 9,558 crore during the quarter under review. It rose 11 percent compared to its previous year revenue of Rs 8,590 crore. The FMCG major reported a volume growth of 10 percent, which exceeded Street expectations. According to a poll of analysts by CNBC-TV18, the volume growth was seen at 6-8 percent. Its volumes last year were reported at 11 percent. At an operating level, the EBITDA rose to Rs 2,046 crore, a jump of 22 percent compared to the corresponding quarter’s performance last year at Rs 1,680 crore. Meanwhile, the operating margin stood at 21.4 percent against ...