MCX Support and Resistance Level (27 Feb 2019)

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Opening Bell

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Opening Bell

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International Market Update

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Nifty above 10,650, Sensex up 200 pts; realty stocks in focus

Market Opens: It is strong start for the indices on Wednesday with Nifty trading above 10,650 level.

At 09:17 hrs IST, the Sensex is up 196.95 points at 35549.56, while Nifty is up 63.50 points at 10,667.90. About 595 shares have advanced, 249 shares declined, and 49 shares are unchanged. 

Shriram Trasport, ITI, Yes Bank, Indiabulls Housing, Vedanta, Power Grid, Dr Reddy's Lab, Grasim, Bajaj Finserv, are among major gainers, while losers include Zee Entertainment, Reliance Capital.

All the sectoral indices are trading in green led by realty, energy, metal, infra, pharma and FMCG.

Rupee Opens: The Indian rupee opened marginally higher at 71.29 per dollar versus Monday's close 71.34.

Source: https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-sensex-up-100-pts-in-pre-open-nifty-around-10650-essel-propack-gains-8-3560501.html

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Closing Bell: Sensex ends 145 pts lower, Nifty manages to hold 10,600; IT stocks drag

Market at close: Bears dragged the Nifty below 10,600 during last hour trading but managed to close just above the 10,600 level.

At the end, Sensex was down 145.83 points at 35352.61, while Nifty was down 36.60 points at 10604.40. About 1360 shares have advanced, 1169 shares declined, and 122 shares are unchanged.

Wipro, TCS, IndusInd Bank, NTPC and Infosys were the top losers on the Nifty while top gainers include Vedanta, Grasim Industries, BPCL, Zee Entertainment, and JSW Steel.

IT space was a major drag among the sectors followed by pharma and energy, while buying was seen in FMCG, metal and PSU bank index.

Source:https://www.moneycontrol.com/news/business/markets/closing-bell-sensex-ends-145-pts-lower-nifty-manages-to-hold-10600-it-stocks-drag-3555261.html

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Indices close off day's low with Nifty above 10,700; metal, pharma stocks under pressure

Market at close: Benchmark indices registered strong recovery from the day's low point with Nifty able to close above 10,700 level.

The Sensex was down 67.27 points at 35808.95, while Nifty was down 21.60 points at 10724.40. About 911 shares have advanced, 1581 shares declined, and 136 shares are unchanged. 

BPCL, Power Grid, NTPC, GAIL and Bharti Infratel are the top gainers, while JSW Steel, Sun Pharma, Dr Reddy’s Labs, Indiabulls Hsg and Tata Steel are among major loser on the Nifty.

Among the sectoral indices pharma, metal, auto and FMCG witnessed selling pressure, while some buying was seen in energy and infra space.

Source:https://www.moneycontrol.com/news/business/markets/closing-bell-indices-close-off-days-low-with-nifty-above-10700-metal-pharma-stocks-under-pressure-3540771.html

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Closing Bell

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Nifty around 10,750, Sensex falls 100 pts; Yes Bank surges 29%

Market Opens: Benchmark indices are trading lower on the Thursday morning with Nifty hovering around 10,750 level.

At 09:18 hrs IST, the Sensex is down 52.52 points at 35981.59, while Nifty is down 26.20 points at 10767.50. About 304 shares have advanced, 495 shares declined, and 30 shares are unchanged. 

Karur Vysya Bank, IOC, BPCL, HPCL, Reliance Capital, Repco Home Finance, DHFL, RIL, Kotak Mahindra Bank are among major losers, while Yes Bank is up 27 percent, while Tata Motors, L&T are other major gainers.

Rupee Opens: The Indian rupee opened lower at 70.87 per dollar on Thursday versus previous close 70.80.

Source:https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-nifty-around-10750-sensex-falls-100-pts-yes-bank-surges-29-3533371.html

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Closing Bell: Sensex ends 119 pts lower, Nifty below 10,800; Eicher Motors slides 5%

Market at close: Benchmark indices erased all its intraday gains and ended in red on the back of last hour selling pressure. 

The Sensex was down 119.51 points at 36034.11, while Nifty was down 37.70 points at 10793.70. About 968 shares have advanced, 1544 shares declined, and 128 shares are unchanged. 

Adani Ports, Indiabulls Housing, UPL, Tata Motors and HDFC were the top gainers on the Nifty, while losers included Eicher Motors, IOC, HPCL, GAIL and ONGC.

Except IT index, all other sectoral indices closed in red led by Nifty PSU bank, infra, energy, auto, pharma and metal.

Source:https://www.moneycontrol.com/news/business/markets/closing-bell-sensex-ends-119-pts-lower-nifty-below-10800-eicher-motors-slides-5-3525251.html

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Indices trim gains with Nifty below 10,850; auto stocks under pressure

Market Opens: Benchmark indices opened higher on Wednesday with Nifty trading above 10,850 mark.

The Sensex is up 199.06 points at 36352.68, while Nifty is up 58.60 points at 10890. About 506 shares have advanced, 285 shares declined, and 33 shares are unchanged. 

Sun Pharma, ITC, Cola India, Indiabulls Housing, Jet Airways, ONGC, Bata, JSW Steel, TCS, RIL are the top gainers on the indices, while losers are HPCL, Infosys, Axis Bank.

Rupee Opens: The Indian rupee gained in the early trade on Wednesday. It has opened higher by 22 paise at 70.48 per dollar versus previous close 70.70.

Source:https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-indices-trim-gains-with-nifty-below-10850-auto-stocks-under-pressure-3525251.html

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Opening Bell

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Closing Bell: Sensex ends over 240 points lower, Nifty below 10,850; Sun Pharma up 3%

Market at Close Equity benchmarks closed the session with cuts of over half a percent. The Nifty managed to end below 10,850-mark. 

Banks, automobiles, consumption, and IT were the top losers, while metals and pharma were the big gainers. The midcap index has ended flat. 

At the close of market hours, the Sensex was down 241.41 points or 0.66% at 36153.62, and the Nifty down 57.40 points or 0.53% at 10831.40. The market breadth was negative as 1050 shares advanced, against a decline of 1452 shares, while 131 shares were unchanged.

Sun Pharma, Coal India, JSW Steel and Zee Entertainment gained the most, while Hero MotoCorp, HDFC, and Bharti Infratel lost the most. 

Source: https://www.moneycontrol.com/news/business/markets/closing-bell-sensex-ends-over-240-points-lower-nifty-below-10850-sun-pharma-up-3-3517941.html

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Hindalco Q3 profit including Utkal surges 47% to Rs 713 cr, margin contracts

 third quarter profit (including Utkal) to Rs 713 crore, driven by higher operating income and lower finance cost in aluminium business.

Hindalco has reported healthy 47 percent on year growth in

Profit during the quarter ended December 2017 stood at Rs 484 crore.

Revenue from operations (including Utkal) grew by 8 percent year-on-year to Rs 11,938 crore in quarter ended December 2018.

At operating level, EBITDA (earnings before interest, tax, depreciation and amortisation) including Utkal rose 3.5 percent to Rs 1,926 crore in Q3 YoY, but margin contracted to 16.1 percent against 16.9 percent in same period last year.

"This is on the back of supporting macros, improvement in operational efficiencies and better realisations. This was despite increase in input costs, mainly of coal and furnace oil," the aluminium major said.

Interest expenses for the quarter were lower by 12 percent to Rs 477 crore YoY, mainly due to re-pricing of long term project loans and loan re-payments.

The company said under its continuous deleveraging focus, it prepaid another Rs 1,575 crore in October 2018.

Hence, Hindalco standalone plus Utkal Alumina net debt to EBITDA (on TTM Basis) improved to 2.36x as on December 2018 from 2.67x as on March 2018, it added.

Aluminium business (including Utkal) during the quarter grew by 12.6 percent to Rs 6,018 crore with its EBITDA increasing 8 percent to Rs 1,286 crore YoY on supporting macros, partially offset by increase in the input prices.

The company achieved aluminium metal production of 324 Kt in Q3FY19, as its plants continued to operate at peak designed capacities, the company said, adding alumina (including Utkal Alumina) production was higher at 749 Kt versus 734 Kt in the corresponding period last year on account of better operational performance.

Copper business revenue at Rs 5,925 crore increased by 4 percent and its operating income at Rs 431 crore was higher by 2.4 percent for quarter ended December 2018.

At 14:38 hours IST, the stock was quoting at Rs 199.65, up Rs 0.30, or 0.15 percent on the BSE.

Source:https://www.moneycontrol.com/news/business/earnings/hindalco-q3-profit-including-utkal-surges-47-to-rs-713-cr-margin-contracts-3521481.html

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Sensex gave positive returns in Feb in 5 out of 10 years; what does 2019 hold?

It looks like bulls and bears battle it out on Dalal Street in the month of February, which is usually marred by Budget volatility. Historical data shows Sensex gave positive returns in February in 5 out of last 10 years.

During the last 10 years, S&P BSE Sensex rallied the most in February 2014 rising 4.5 percent, followed by a 2.6 percent up move seen in 2012, and 2.1 percent gain in 2017, data collated by Ace Equity showed.

On the other hand, in past 10 years, Sensex fell the most in 2016 when it plunged over 7 percent, followed by 4.8 percent drop in 2018 and 4.6 percent fall in 2013.

This month, the sentiment on D-Street has been positive from day 1 after the Interim Budget when Nifty rose beyond 10,900, which is a strong sign as it has put bears on the back foot for now.

Source:https://www.moneycontrol.com/news/business/markets/sensex-gave-positive-returns-in-feb-in-5-out-of-10-years-what-does-2019-hold-3485291.html

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Berger Paints Q3FY19 review: Volume drives topline, but crude prices hurt margins

Highlights:

- Q3 volume growth was strong at nearly 14-15 percent
- Festive demand aided topline growth
- Management expects margins to recover in Q4
- Competitive intensity to increase going forward

- Valuations offer little upside from current levels

India’s second-largest decorative paints company reported better-than-expected Q3FY19 topline. Volume growth was in high teens, at par with its larger peer Asian Paints. Operating margins, however, contracted as high crude oil prices expanded the cost base. The company appears to be on a secular growth path as it continues to grow faster than the industry, gaining market share from smaller and unorganised players.

Key Q3 positives

- Topline growth of 21 percent was driven by strong volume growth. The decorative volume growth estimates for the quarter stood at nearly 14 percent as strong consumer demand during the festive season along with a favourable base (timing of Diwali) aided the sales growth in October-December period.

- Operating profit margins recovered sequentially with successive price hikes partially alleviating the crude-oil and currency-related pressures. However, high-cost inventory kept margins under pressure on YoY basis.

- Apart from strong demand in the decorative business, there was decent traction in industrials, Nepal decorative business, and Saboo Coatings.

- The management expects a recovery in Q4 margins from softening crude prices and rupee stabilisation against the dollar.

Source: https://www.moneycontrol.com/news/business/moneycontrol-research/berger-paints-q3fy19-review-volume-drives-topline-but-crude-prices-hurt-margins-3491201.html

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Closing Bell: Nifty manages to end above 10,900, Sensex gains 113 pts; RIL market-cap above Rs 8 lk cr

Market at close: Benchmark indices bounced from the day's low to end on positive note with Nifty closed above 10,900 level.

The Sensex was up 113.31 points at 36582.74, while Nifty was up 18.60 points at 10912.30. About 799 shares have advanced, 1757 shares declined, and 172 shares are unchanged. 

Reliance Industries, ONGC, Bajaj Auto, TCS and Kotak Mahindra Bank are the top gainers on the Sensex, while losers include Yes Bank, Power Grid, NTPC, Sun Pharma and M&M.

Among sectors, infra, auto, metal, FMCG and pharma witnessed selling pressure, while some buying saw in bank, energy and IT stocks.

Source:https://www.moneycontrol.com/news/business/markets/closing-bell-nifty-manages-to-end-above-10900-sensex-gains-113-pts-ril-market-cap-above-rs-8-lk-cr-3477221.html

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DHFL falls 13% even as co divests majority stake in Aadhar Housing Finance to Blackstone

Shares of Dewan Housing Finance (DHFL) fell 13 percent in the morning trade, even as the company decided to divest its stake in Aadhar Housing Finance to Blackstone.

The stock touched a 52-week low of Rs 97.00. It touched an intraday high of Rs 111.15 and an intraday low of Rs 97.00.

Private equity major Blackstone agreed to buy nearly 80 percent of affordable homes-focused Aadhar Housing Finance from the financially stretched Wadhawan group for an undisclosed sum.

The group's holding company Wadhawan Global Capital (WGC) will be selling its 70 percent stake in the company, while its listed mortgage lender subsidiary DHFL will also be exiting its investment, which is reported to be around 9 percent, as per a company statement on February 2.

The deal comes days after the group was alleged to have syphoned off over Rs 31,000 crore of public money as reported by news portal Cobrapost, which claimed loans were taken from DHFL and the money taken out of the country by the Wadhawans.

The group has denied all the allegations, even as the DHFL stock plunged since then.

At 09:36 hrs Dewan Housing Finance Corporation was quoting at Rs 106.70, down Rs 4.75, or 4.26 percent.


Source: https://www.moneycontrol.com/news/business/markets/dhfl-falls-13-even-as-co-divests-majority-stake-in-aadhar-housing-finance-to-blackstone-3477691.html

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Vedanta plunges 18% as brokerages downgrade stock on its Anglo American investment

Shares of Vedanta fell around 18 percent on Friday morning as investors turned wary of the stock after financial results.

The touched a 52-week low of Rs 162.05. It touched an intraday high of Rs 180.50 and an intraday low of Rs 162.05.

Vedanta has reported a 21 percent on year decline in third quarter consolidated profit to Rs 1,574 crore due to lower commodity prices and shutdown of copper smelter at Tuticorin.

Revenue from operations during the quarter dropped 2.8 percent to Rs 23,669 crore compared to year-ago. The sequential profit was up 17 percent and revenue up 4 percent.

Revenue was lower mainly on account of shutdown of copper smelter at Tuticorin and lower commodity prices, partially offset by currency depreciation and higher volumes at Electrosteel and aluminium business," Vedanta said.

At operating level, EBITDA (earnings before interest, tax, depreciation and amortisation) declined 11 percent year-on-year to Rs 5,953 crore, but sequentially EBITDA increased 13 percent and margin expanded 300 bps QoQ to 29 percent.

Source:https://www.moneycontrol.com/news/business/markets/vedanta-plunges-18-as-brokerages-downgrade-stock-on-its-anglo-american-investment-3467591.html

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MCX Support and Resistance Level

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