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Mid-Day Market updates – The Future Market’s watch window

Mid-Day Market updates – 11th Feb 2019 – PreMarket and Buzzing Stocks

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Buzzing Stocks on Market Today

  1. Sun TV Network climbs 7% as analysts remain positive after Q3 result – 11:56am
    The mass media company reported strong revenue growth of 32 percent YoY to Rs 900 crore, mainly due to better-than-expected movie revenue and backed by healthy advertising and subscription revenue
  2. DHFL shares fall 6% on buzz of I-T notice to probe asuspicious transactionsa – 11:20am
    According to a CNBC-TV18 report, the income tax department sent a notice to DHFL under Section 131 of I-T Act. Further, the company has been asked to furnish books of accounts.
  3. Hero Motocorp falls 4% as stock trades ex-dividend – 9:45am
    The board of directors, on January 31, declared an interim dividend of Rs 55 per share of Rs 2 each (at the rate of 2,750 percent) for the financial year 2018-19.
  4. Dr Reddy’s Labs falls 4% as US FDA issues 11 observations to Bachupally plant – 9:30am
    The company on Friday told the exchanges that its Formulations Manufacturing Plant – 3 at Bachupally, Hyderabad had been inspected by the US FDA. It has been issued a Form 483 with 11 observations.

Markets open in red. Sensex down 200 points – 10am

Indian stock markets have extended their fall from the opening mark. The Nifty below 10900. At. 9.58 am, Sensex was down by 0.57% or 203 points to 36347. The Nifty slipped by 0.68% or 74 points to 10871.

ITC, Reliance Industries, L&T, ICICI Bank dragged indexes, while Infosys batted for the bulls.

The Indian rupee opened higher at 71.23 against the US dollar on February 11, against February 08 close at 71.30.

Asian stock markets were mixed on February 11, as doubts on the possibility for progress ahead of a potentially pivotal week for US-China trade talks crept back into markets.

Pre-market: Indian stocks may open down as US-China trade dispute hits sentiments – 9am

Indian stocks are expected to open marginally down on February 11, 2019 as sentiments remain weak on uncertainty over a deal between the US and China.
Nifty futures traded 0.12% down at 10,933.5 on Singapore’s SGX Exchange.
Global Markets
Asian stocks were subdued after reports casted doubts over possible trade agreement between the US and China.
US stocks ended mixed with marginal weekly gains on February 8, 2019 as investors preferred to remain on the sidelines due to uncertainty over US-China trade deal.
Oil
Concerns over global economic health led to fall in crude oil prices on February 11, 2019.
Stocks to watch
Reliance ADAG Group: Creditors says all actions on the group are legal and the Anil Ambani-led group failed to honour contractual obligations.
SBI: SBI cuts its interest rates on home loans upto Rs 30 lakh by 5bps
Reliance Industries: Reliance Brands increased its stake in Future 101 Design to 15%

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