Finance Update

Mid-Day Market updates – TFM’s Watch

Mid-Day Market updates – 21st Feb 2019 – Noon Market Update, Buzzing Stocks following PreMarket Report

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Buzzing Stocks on Market Today

  1. Reliance Capital surges 7% as co invites Nippon Life to acquire stake in Reliance Nippon Life – 12:44am
    – Nippon Life Insurance already holds 42.88% stake in RNAM.
  2. Dish TV India gains 7% as CLSA maintains buy, target at Rs 70 – 11:45am
    – The company has migrated 90 percent of its 24 million subscribers to TRAI’s new pay-TV regime, said CLSA.
  3. Tech Mahindra hits 52-week high on Rs 1,956cr buyback approval – 11:00am
    – It has fixed March 6 as a record date for the share buyback.
  4. Grasim Industries rises 2% on acquiring chlor-alkali biz of KPR Industries – 10:09am
    – The share touched its 52-week high Rs.1,201 and 52-week low Rs.688.65 on 27 February, 2018 and 15 February, 2019, respectively.
  5. Dynamatic Technologies surges 13% on signing MoU with Russian Helicopters – 9:44am
    – The share touched its 52-week high Rs.2,153.85 and 52-week low Rs.1,211.00 on 26 February, 2018 and 19 February, 2019, respectively.
  6. Tata Steel gains as Moody’s upgrades CFR rating, keeps outlook stable – 9:30am
    – The stable outlook reflects Moody’s expectation that Tata Steel’s strong operating performance will translate into a sustained improvement in credit metrics.

ETMarket’s Noon Market update: Telecom shares mixed; MTNL surges 18% – 12:30am

Benchmark NSE Nifty50 index was up 27.50 points at 10,762.95 while the BSE Sensex was up 84.36 points at 35,840.62.

Telecom shares were trading on a mixed note in Wednesday’s afternoon session.

Shares of Mahanagar Telephone Nigam (up 18.07%), Tejas Networks (up 7.98%), Reliance Communications (up 2.59%) and Tata Teleservices (Maharashtra) (up 2.59%) were trading higher.

Bharti Infratel (down 2.96%), GTL (down 2.27%), Bharti AirtelNSE -1.29% (down 1.47%) and GTPL Hathway (down 1.36%) were trading with losses.

Meanwhile, the S&P BSE Telecom index was trading 1.22% down at 979.15 around 12:22pm.

Benchmark NSE Nifty50 index was up 27.50 points at 10,762.95 while the BSE Sensex was up 84.36 points at 35,840.62.

Among the 50 stocks in the Nifty index, 30 were trading in the green, while 20 were in the red.

Shares of Reliance Communications, Reliance Power, PNB, Suzlon Energy, CG Power, Reliance Capital, Dish TV India, Allahabad Bank, Vakrangee, YES Bank, JP Associates, Vodafone Idea, Reliance Infra, JSPL and Adani Power were among the most traded shares on the NSE.

MoneyControl D-Street Buzz: Metal stocks gain led by JSPL; ICICI Bank up 2%, Bharti Infratel down 3% – 1:30am

The breadth of the market favoured the advances with 1083 stocks advancing and 582 declining while 394 remained unchanged. On the BSE, 1344 stocks advanced, 962 declined and 139 remained unchanged.

The Indian benchmark indices have extended the morning gains with the Nifty50 up 41 points, trading at 10776 while the Sensex added 133 points and was trading at 35,889 mark.

Nifty Metal was up 1 percent led by APL Apollo which jumped 4 percent followed by JSPL, JSW Steel, SAIL, Tata Steel, Vedanta and Hindalco Industries.

PSU banks continued to trade higher after the government announced final recapitalisation tranche amount of Rs 48,239 crore for as many as 12 public sector banks, in a bid to take them out of Reserve Bank of India’s (RBI) prompt corrective action framework.

The top gainers were Central Bank of India, Punjab National Bank, Canara Bank, Bank of India, Union Bank, Syndicate Bank, Vijaya Bank and Oriental Bank of Commerce.

From the BSE PSU basket, the top gainers were Corporation Bank which spiked 15 percent followed by UCO Bank, Indian Overseas Bank, Andhra Bank, Central Bank of India, Allahabad Bank and Maharashtra Bank.

From the media space, the top gainers were Dish TV, Sun TV, Network18, Zee Media and Zee Entertainment.

However, infra stocks were trading in the red dragged by Bharti Infratel, Container Corp, Interglobe Aviation, Adani Power and Bharti Airtel.

The top gainers from NSE included Indiabulls Housing Finance, Vedanta, Tata Motors, Grasim Industries and ICICI Bank while the top losers included Bharti Airtel, Bharti Infratel, YES Bank, Maruti Suzuki and NTPC.

The most active stocks were Tech Mahindra, Reliance Industries, TCS, ICICI Bank and YES Bank.

Tech Mahindra, Aavas Financiers and TCNS Clothing have hit new 52-week high in this afternoon session.

82 stocks have hit new 52-week low on the NSE including names like ABG Shipyard, Apollo Micro Systems, Firstsource Solutions, Gujarat State Petronet, Mercator, UFO Moviez and TVS Motor Company among others.

The breadth of the market favoured the advances with 1083 stocks advancing and 582 declining while 394 remained unchanged. On the BSE, 1344 stocks advanced, 962 declined and 139 remained unchanged.

Sharekhan Noon Market Update: Markets remain in green. Sensex up 100 points – 1:00pm

The benchmark indices were trading in a narrow range with some positive bias amid gains in public sector bank stocks. At 12.46 pm, Sensex was up by 0.28% or 102 points to 35858. The Nifty rose by 0.31% or 32 points to 10768.

Among the sectors, PSU bank, metal, FMCG and pharma were witnessing some buying, while infra and IT index are under pressure.

Asian stock markets recovered from earlier losses to rise in the afternoon session as traders tried to interpret a release from the Federal Reserve.

Sharekhan’s Pre-market: SGX Nifty slips by 30 points. Markets to open lower – 09:00AM 

Indian shares aare likely to open on weak note February 21, following mix asian cues. SGX Nifty at 10737 fell by 30 points.

The rupee closed at 71.11, up by 23 paise against the dollar on February 20.

Global Markets

Asian stock markets were trading lower on February 21, following a choppy session on Wall Street as traders tried to interpret a release from the Federal Reserve.

European stock markets were slightly higher on February 20, amid rising hopes the world’s two largest economies could soon secure a trade deal to end a protracted dispute.

Market Close

The benchmark indices bounced back and broke their eight-day losing streak on February 20, on the back of global optimism. The rally was mainly led by information technology, metal and banking & financial services stocks. The Sensex surged by 1.14% or 403.65 points to 35756.26. The Nifty soared by 1.24% or 131.40 points to 10735.45.

Stocks to watch

BPCL shareholders gave nod to raising Rs.2,000 crore via NCDs for financial year 2019

Bank of Baroda fixed the record date of March 11 for the amalgamation of Vijaya Bank and Dena Bank with self

Dynamatic Technologies signed an MoU with JSC Russian Helicopters to build fabrication and ancillary parts.

Shipping Corporation of India gave physical delivery of one bulk carrier to its buyer

Disclaimer: The views and investment tips expressed by investment experts are their own and not that of the website or its management, thefuturemarkets.com advises users to check with certified experts before taking any investment decisions.

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