IMD predicts normal monsoon; Sensex ends near day high; Tata Motors, Infosys buck trend
Sensex today: The benchmark indices pared all intraday losses to settle near day's high on Monday thanks to gains in pharma and realty stocks even as Asian markets traded mixed. The Sensex settled at 34,305, up 112.78 points, while the broader Nifty50 ended at 10,528, up 47.75 points.
In the broader market, the BSE Midcap added 0.3 per cent, while the BSE Smallcap gained 0.5 per cent. Market breadth, indicating the overall health of the market, turned negative. On the BSE, 1,407 stocks declined, 1,267 stocks rallied, while 202 stocks remained unchanged.
Infosys share price tanked sharply, slipping 6 per cent intraday after the company reported 28.2 per cent fall in net profit at Rs 3,690 crore in Q4 on consolidated basis, in-line with expectations, as against Rs 5,129 crore reported in the December quarter of FY18. The tech major's revenues grew by 7.2 per cent in dollar terms, while 5.8 per cent in constant currency terms, with operating margins coming in at 24.3 per cent.
Overseas, European shares were broadly flat, however, adding to a mixed picture in Asian stock markets and suggesting that a degree of caution still prevails. MSCI’s world equity index, which tracks shares in 47 countries, was flat on the day and a pan-European stock index was marginally lower. US stock futures were pointing to a higher opening on Wall Street.
Last week, the Sensex ended with third consecutive weekly gain by a solid 565.68 points to conclude at 34,192.65, while the broader Nifty reclaimed to close above the key 10,400-level at 10,480.60. Despite volatility, key indices pocketed modest gains throught-out the weeks trading days, only seen for second time since last one year as the investor sentiment remained buoyant on earning optimism, while remained resilience to incessant global uncertainties.
Foreign portfolio investors (FPIs) and foreign institutional investors (FIIs) sold shares worth Rs 1,487.82 crore during the week, as per Sebi's record including the provisional figure of April 13, 2018. The S&P BSE Mid-Cap index rose 81.19 points or 0.49 per cent to settle at 16,677.76. The S&P BSE Small-Cap index rose 99.00 points or 0.55 per cent to settle at 17,981.99. Both these indices outperformed the Sensex.
Sensex today: The benchmark indices pared all intraday losses to settle near day's high on Monday thanks to gains in pharma and realty stocks even as Asian markets traded mixed. The Sensex settled at 34,305, up 112.78 points, while the broader Nifty50 ended at 10,528, up 47.75 points.
In the broader market, the BSE Midcap added 0.3 per cent, while the BSE Smallcap gained 0.5 per cent. Market breadth, indicating the overall health of the market, turned negative. On the BSE, 1,407 stocks declined, 1,267 stocks rallied, while 202 stocks remained unchanged.
Infosys share price tanked sharply, slipping 6 per cent intraday after the company reported 28.2 per cent fall in net profit at Rs 3,690 crore in Q4 on consolidated basis, in-line with expectations, as against Rs 5,129 crore reported in the December quarter of FY18. The tech major's revenues grew by 7.2 per cent in dollar terms, while 5.8 per cent in constant currency terms, with operating margins coming in at 24.3 per cent.
Overseas, European shares were broadly flat, however, adding to a mixed picture in Asian stock markets and suggesting that a degree of caution still prevails. MSCI’s world equity index, which tracks shares in 47 countries, was flat on the day and a pan-European stock index was marginally lower. US stock futures were pointing to a higher opening on Wall Street.
Last week, the Sensex ended with third consecutive weekly gain by a solid 565.68 points to conclude at 34,192.65, while the broader Nifty reclaimed to close above the key 10,400-level at 10,480.60. Despite volatility, key indices pocketed modest gains throught-out the weeks trading days, only seen for second time since last one year as the investor sentiment remained buoyant on earning optimism, while remained resilience to incessant global uncertainties.
Foreign portfolio investors (FPIs) and foreign institutional investors (FIIs) sold shares worth Rs 1,487.82 crore during the week, as per Sebi's record including the provisional figure of April 13, 2018. The S&P BSE Mid-Cap index rose 81.19 points or 0.49 per cent to settle at 16,677.76. The S&P BSE Small-Cap index rose 99.00 points or 0.55 per cent to settle at 17,981.99. Both these indices outperformed the Sensex.
Latest Updates
Good News! IMD predicts normal monsoon
IMD: 97 per cent monsoon expected. India will experience third successful year of normal monsoon.
Sectoral Trend at Close
Source: NSE
Auto major Tata Motors share price declined over 5% today in the wake of reports that the company owned car-maker in UK, Jaguar Land Rover may cut nearly 1,000 jobs. JLR has scaled back production at some of its UK sites amid what it termed as "headwinds" impacting the automotive industry. Tata Motors share price opened at Rs 350.80 today, but extended losses to slip as much as 5.25 per cent to Rs 337.90 on the BSE. It was top loser on Sensex and Nifty. The stock settled at Rs 340, down 4.67 per cent on the BSE.
Market Breadth
Market breadth, indicating the overall health of the market, turned negative. On the BSE, 1,407 stocks declined, 1,267 stocks rallied, while 202 stocks remained unchanged.
Markets at Close
The Sensex settled at 34,305, up 112.78 points, while the broader Nifty50 was ruling at 10,528, up 47.75 points. In the broader market, the BSE Midcap added 0.3 per cent, while the BSE Smallcap gained 0.5 per cent.
FAST MONEY: Infosys, ONGC among key intraday trading tips
ICICI Securities (Buy)
Target: Rs 435
Stoploss: Rs 418
Q4 net profit at Rs 159 crore from Rs 83 crore last year
Q4 income increased to Rs 515 crore from Rs 382 crore last year
Stocks in News
- United Spirits: The Board has approved a stock split in the ratio of 5:1.
- ICICI Securities: 4Q group net income 1.59b rupees vs 831.8m rupees
- IL&FS Engineering: Wins order from GAIL for INR1.3b pipeline project
- Reliance Industries: To acquire 72.7% Embibe stake from investors
5000 staff to be sacked? Idea Cellular share price slips over Vodafone merger lay-offs report
Idea Cellular share price dipped marginally even as a news report claimed that as many as 5,000 of 21,000 employees may be sacked by Vodafone-Idea Cellular merged entity. The telecom giants may take this step to cut cost and ensure work is not duplicated. The lay-offs may happen during summer months. The stock of Idea slipped as much as 2 per cent to Rs 70.75 on the BSE. Idea Cellular rival Bharti Airtel was trading flat at Rs 376, down 0.5 per cent on the BSE.
The entire telecom industry witnessed a disruption after Reliance Jio, backed by Mukesh Ambani-owned Reliance Industries, joined the already-saturated telecom market with its unlimited free voice calls and data offers. This led to a sharp and sustained fall in telecom stocks with Idea Cellular losing 17 per cent in last one year. By comparison, Sensex rallied 16 per cent during the same period.
5000 staff to be sacked? Idea Cellular share price slips over Vodafone merger lay-offs report
Idea Cellular share price dipped marginally even as a news report claimed that as many as 5,000 of 21,000 employees may be sacked by Vodafone-Idea Cellular merged entity. The telecom giants may take this step to cut cost and ensure work is not duplicated. The lay-offs may happen during summer months. The stock of Idea slipped as much as 2 per cent to Rs 70.75 on the BSE. Idea Cellular rival Bharti Airtel was trading flat at Rs 376, down 0.5 per cent on the BSE.
The entire telecom industry witnessed a disruption after Reliance Jio, backed by Mukesh Ambani-owned Reliance Industries, joined the already-saturated telecom market with its unlimited free voice calls and data offers. This led to a sharp and sustained fall in telecom stocks with Idea Cellular losing 17 per cent in last one year. By comparison, Sensex rallied 16 per cent during the same period.
Kotak Institutional Equities on Infosys
Profitability. Infosys reported a steady quarter with stable operating metrics and impressive margin defense in 4QFY18. Revenue growth guidance of 6-8% was consistent with our expectations and signals acceleration in growth. Strategic priorities have caused cut in margin guidance band to 22-24 per cent from 23-25 per cent earlier, disappointing but necessary to build muscles in digital business. Margin reset drives 1.1-1.4% earnings cut for FY2019-20E. Notwithstanding the EPS cut, key revenue metrics are comforting and have driven our ADD rating.
Infosys tanked 5% post Q4
Infosys share price slipped pver 5 per cent to Rs 1099 even as most brokerages remained positive on the stock. The consolidated net profit of Infosys rose 2.4 per cent year-on-year to Rs 3,690 crore in the quarter, while revenue was up 5.6 per cent to Rs 18,083 crore.
Sensex Heatmap at Open
Source: BSE
Markets at Open
At 9:30 am, Sensex was trading at 34,115, down 77.16 points, while the broader Nifty50 was ruling at 10,463, down 17.30 points.
Markets on Friday
Last week, the Sensex ended with third consecutive weekly gain by a solid 565.68 points to conclude at 34,192.65, while the broader Nifty reclaimed to close above the key 10,400-level at 10,480.60. Despite volatility, key indices pocketed modest gains throught-out the weeks trading days, only seen for second time since last one year as the investor sentiment remained buoyant on earning optimism, while remained resilience to incessant global uncertainties.
Foreign portfolio investors (FPIs) and foreign institutional investors (FIIs) sold shares worth Rs 1,487.82 crore during the week, as per Sebi's record including the provisional figure of April 13, 2018. The S&P BSE Mid-Cap index rose 81.19 points or 0.49 per cent to settle at 16,677.76. The S&P BSE Small-Cap index rose 99.00 points or 0.55 per cent to settle at 17,981.99. Both these indices outperformed the Sensex.
Among sectoral and industry indices, IT rose by 4.48 per cent, realty 4.01 per cent, metal 3.41 per cent, teck 3.33 per cent, consumer durables 2.95 per cent, capital goods 1.78 per cent, bankex 1.60 per cent, IPO 0.91 per cent, FMCG 0.75 per cent, power 0.33 per cent and auto 0.17 per cent.
However, oil&gas fell by 1.05 per cent, PSU 0.99 per cent and healthcare 0.04 per cent. Among the 31-share Sensex pack, 23 stocks rose and remaining 8 stocks fell during the week.
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