After showing some sort of recovery in early trade session on ease in US-China trade talks and strong Monday opening at Asian markets, the Indian Indices finally pared its early gains and crashed by near 0.9 per cent. The BSE Sensex crashed by near 310 points to 35,498 levels. The 50 stock Nifty went off by 83 points to 10,640 levels after making a high of 10,759. Shaes of Reliance Industries bleed over 2.21 per cent, Birlasoft shares crashed over 6.5 per cent while Take Solutions counter went down by more than 5.7 per cent. Adani Power stock too went off by near 4.9  per cent .

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On the market outlook for Monday Mehul Kothari, Senior Technical Analyst - Equity,  IndiaNivesh told, "The week went by was fully dominated by the bears on the D – Street amid the sharp selloff in broader markets. The index Nifty spot ended in red during all the five trading sessions of the week. During the process, Nifty spot nose dive from the peak of 10950 and almost met 10600 marks. Eventually, the index lost more than 2% from its previous close (Week on Week). Meanwhile, the Nifty Bank index ended with a loss of around 1.83% and that too below 27000 marks." On the market pattern and its behaviour Kothari added, "Earlier, we discussed the reversal pattern known as “Evening Star” near the hurdle of 11100. The impact of the pattern was clearly evident during the week. Now at this juncture, Nifty has found support at the rising trend shown above. Also, below the trend line, there is a previous swing low of 10,580 which might act as strong support for the coming week. The support around the trend line coincides with 78.6% Fibonacci retracement levels of the previous rally. Thus going ahead we expect the mentioned supports to absorb the selling pressure. On the upside, a move above 10800 could bring the bulls back in action which can take Nifty back to 11000 marks. Traders can add aggressive long in index futures once Nifty starts trading above the mentioned resistance level."

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3:35 PM

Closing bell: Sensex, Nifty tank 0.9%; Reliance Industries, Birlasoft, Adani Power bleed heavily

After showing some sort of recovery in early trade session on ease in US-China trade talks and strong Monday opening at Asian markets, the Indian Indices finally pared its early gains and crashed by near 0.9 per cent. The BSE Sensex crashed by near 310 points to 35,498 levels. The 50 stock Nifty went off by 83 points to 10,640 levels after making a high of 10,759. Shaes of Reliance Industries bleed over 2.21 per cent, Birlasoft shares crashed over 6.5 per cent while Take Solutions counter went down by more than 5.7 per cent. Adani Power stock too went off by near 4.9 per cent.

3:25 PM

Consumer Durable Index follwo shoot

The BSE Consumer durable inddex went off by 1.34 per cent in intraday trade. Consumer Durable major VIP Industries went down by more than 4 per cent, Crompton Greavess tock went down by around 4.1 per cent, Blue Star went off by more than 2 peer cent, Rajesh Exports was down by near 1.3 per cent while Whirlpoo counter was off by around 1.44 per cent.

3:15 PM

Fast moving consumer goods leads blood bath at Dalal Street

Leading the tank at the Indian indices, the FMCG index tank over 1.25 per cent in the intraday trade. Leading the crash shares of DFM Foods slump by near 11 per cent, ADF Foods went off by more than 4 pere cent, Cupid counter went off by near 5 per cent, Gujarat Ambuja Expoerts slipped by near 3.65 per cent, Heritage Foods slide by near 3.6 per cent, ITC stocks went wouthward by around 1.8 per cent, Jyothy Laboratories went off by around 1.9 per cent while Kwality and Lakshmi Energy stocks went down by nera 5 per cent.

3:05 PM

Markets extends slide to 0.7%

After witnessing some buying pressure in early trade session on ease in US-China trade talks and strong Monday opening at Asian markets, the Indian Indices finally pared its early gains and crashed by near 0.5 per cent. The BSE Sensex crashed by near 265 points to 35,543 levels. The 50 stock Nifty went off by 70 points to 10,654 levels after making a high of 10,759.

1:10 PM

RIL, Birlasoft and Take Solutions counter bleeds

After showing some sort of recovery in early trade session on ease in US-China trade talks and strong Monday opening at Asian markets, the Indian Indices finally pared its early gains and crashed by near 0.5  per cent . The BSE Sensex crashed by near 202 points to 35,608 levels. The 50 stock Nifty went off by 66 points to 10,667 levels after making a high of 10,759.  Shaes  of Reliance Industries bleed over 1.5  per cent , Birlasoft shares crashed over 11  per cent  while Take Solutions counter went down by more than 5  per cent . 

12:15 PM

Sensex, Nifty crash 0.7%

After showing some sort of recovery in early trade session on ease in US-China trade talks and strong Monday opening at Asian markets, the Indian Indices finally pared its early gains and crashed by near 0.5 per cent. The BSE Sensex crashed by near 255 points to 35,555 levels. The 50 stock Nifty went off by 71 points to 10,652 levels after making a high of 10,759.

12:05 PM

Accumulate Nestle till Rs 11, 716 levels, advises Elarea Securities

Nestle reported disappointing results, as top line as well as bottom line was lower than our and Consensus estimates by 3.5% and 22.4%, due to lower volume growth and higher media spend on new products. Net sales at Rs 28.9bn was up 11.4% YoY, led by 12% YoY growth in domestic business. Exports were flat at Rs 1.9bn on lower sales to Bangladesh and the UAE. EBITDA was up 1% YoY at Rs 5.97bn and margin at 20.6% was down by 212bp YoY, led by a 418bp rise in other expenses. Other expenses were higher on demand-generating activities, including new products. PAT was up 7.6% YoY at Rs 3.57bn, led by higher other income and lower CSR expenses.

On suggestion to market investors in regard to Nestle counter a detail report attributed to Sagarika Mukherjee and Shubham Maheshwari, Analyst at Elara Securities say that the rally in Nestle counter may continue up to Rs 11, 716 levels. The research advises investors to accumulate till it touches Rs 11, 716 levels/stock levels. Currently, the scrip is oscillating around Rs 10,535/share levels.

11:00 AM

Sensex, Nifty bleeds over half a percent

After showing some sort of recovery in early trade session on ease in US-China trade talks and strong Monday opening at Asian markets, the Indian Indices finally pared its early gains and crashed by near 0.5  per cent . The BSE Sensex crashed by near 205 points to 35,605 levels. The 50 stock Nifty went off by 61 points to 10,662 levels after making a high of 10,759. Auto, healthcare and FMCB index was the majory bull at the Indian indices while bear had a laugh at banking, financial, energy, oil and gas indices.

9:30 AM

Markets crash 0.4%

After showing some sort of recovery in early trade session on ease in US-China trade talks and strong Monday opening at Asian markets, the Indian Indices finally pared its early gains and crashed by near 0.4 per cent. The BSE Sensex crashed by near 150 points after making a high of 35,912. The 50 stock Nifty nudged northward by 38 points to 10,688 levels after making a high of 10,759. 

9: 23 AM

Sensex, Nifty trades side-ways in the opening session

On account of ease in US-China trade talks and strong Monday opening at Asian markets, the Indian Indices finally ended its bear run and opened on higher side on Monday. The BSE Sensex edged by near 10 points after making a high of 35,912. The 50 stock Nifty nudged northward by 3 points to 10,727 levels after making a high of 10,759. Auto, healthcare and FMCB index was the major bull at the Indian indices while bear had a laugh at banking, financial, energy, oil and gas indices.  

9:08 AM

Markets up in pre-open session

Taking the cue from the Asian bourses, the Indian indices inched higher on ease in US-China trade talk hopes. The BSE Sensex rose 22 points to 35,831 levels in pre-open session. The 50-stock Nifty rose 14 points to 10,738 in pre-open session.

9:04 AM

Buy JK Lakshmi Cement for 60% gains, advises Elara Securities

JK Lakshmi Cement (JKLC IN) reported an EBITDA of Rs 0.98bn against experts and the Street’s estimates of Rs 1.1bn each. Earnings were lower than estimates, due to higher other expenses on one-off repair & maintenance expenses and consultancy charge paid by the company for reducing logistical cost. While consultancy charges are expected to continue for one more quarter, expenditure incurred on repair and maintenance is not likely to continue. Net sales was up 12% YoY to Rs 9.4bn on higher volume. EBITDA margin declined 80bp YoY to 10.5% on higher other expenses. Net profit was up 72% YoY at Rs 148mn.

On suggestion to the investors in regard to JK Lakshmi Cement counter Ravi Sodah, analyst at Elara Securities told, "The fundamentals of the counter suggests an upside potential for 60 per cent. We recommend investors to take buy position in the stock for Rs 490/stock levels." Currently, the counter is oscillating around Rs 307/share levels.

9:02 AM

Buy Greenlam Industries Ltd. for 7% gains in short-term, advises Narnolia Financial Advisors

Greenlam reported 12% YoY sales growth where the major sales growth can be attributed to  around 9% growth in realisations for the laminates segment and the engineered wood floors & doors growing 60% YoY combined. However, the management stated that the overall demand environment has been weak. Further, the lower range products have been facing competitive pressures due to over-capacities in the industry and the companies with brand recall benefitting due to their extensive distribution network across geographies and innovative products & designs. We expect GREENLAM to sail through this turbulance to gather sales on its strong brand and grow at a CAGR of 10% over FY18-20. During the quarter, the struggling gross margin on account of higher raw material cost due to higher crude and depreciating rupee improved on the back of pricing discipline maintained by the company.

On suggestion to the market investors in regard to the counter Pratik Poddar, Research Analyst at Narnolia Financial Advisors told in a detail research report, "The fundamentals of the scrip indicates an upside potential for 7 per cent in short-term perspective. We recommend investors to take a buy position in the stock for the target of Rs 750/counter." Currently, the counter is oscillating around Rs 700 per stock levels.

9:00 AM

Buy CCL Products for 55% gains, advises Elara Securities

CCLP’s domestic business (Continental Coffee, a fully owned subsidiary) is showing good traction. Sales from the domestic business for 9MFY19 stood at Rs 550mn to total sales of Rs 400mn for 1HFY19. The branded business (CCLP’s own brands, Continental Coffee, Malgudi and THIS) contributed Rs 230mn, private labels (supplies to Big Bazaar, Spencer & Reliance) contributed Rs 70mn while the rest came in from the bulk business (railways & army). Management has guided sales of Rs 800mn for FY19 against Rs 460mn in FY18 from this subsidiary vs earlier target of Rs 1,000mn.

On suggestion to the invstors in regard to the counter Akhil Parekh, Analyst at the Elara Securities told in a detailed research report, "Despite weak quarterly results, fundamentals of the counter indicates an upside potential for near 55 per cent. We recommed market investors to buy for the target of Rs 421/stock levels." Curent;ly, the counter is hoveering around Rs 272/counter levels.

8: 58 AM

Buy Yes Bank to double your investment by March 2020, advises Equirus 

In a big positive for Yes Bank (YES), the RBI has found ‘NIL’ divergence in the bank’s provisioning and asset classification during 2017-18. This is a big thumbs-up for YES at a time when there were concerns on its asset quality, especially after the term of its outgoing MD & CEO was not renewed by the central bank. YES had reported a FY16/FY17 divergence of Rs 41.7bn/Rs 63.5bn earlier, but was able to recover/upgrade about 77% of assets reported as divergence over FY15-FY17. Both key events for the bank are now behind, i.e. (a) appointment of an external candidate, Ravneet Gill (CEO, Deutsche Bank India), as the next MD & CEO, and (ii) a clean chit from the RBI in terms of divergence. Experts believe the focus will now shift to the timing of raising capital and strategy of new management. 

On suggestion to the investors in regard to the counter, Rohan Mandora and Shreepal Doshi, Analyst at the Equirus informed in a detail research report that fundamentals fo the counter suggests an upside potential to double its growth by March 2020. They advised investors to take buy position in the stock for the target of Rs 340/counter levels by 31 March, 2020. Currently, the scrip is revolving around Rs 169/cvounter levels.

8:55 AM

Asian stocks dare to climb
 
MSCI's broadest index of Asia-Pacific shares outside Japan rose 1 per cent, recovering from a sharp fall last Friday. 

Japan's Nikkei climbed 1.8 per cent to its highest level of the year so far, while Australia's main index rose 0.7 per cent.
 
Shanghai blue chips bounced 1.6 per cent.

But E-Mini futures for the S&P 500 were flat as trade was thinned by a holiday in US markets.
 
The Dow and the Nasdaq had boasted their eighth consecutive weekly gains on wagers the United States and China would hammer out an agreement resolving their protracted trade war.