Finance Update

Mid-Day Market updates – TFM’s Watch

Mid-Day Market updates – 27th Feb 2019 – Noon Market Update, Buzzing Stocks following PreMarket Report

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Buzzing Stocks on Market Today

  1. Royal Orchid Hotels rallies 3% on opening hotel in Gujarat, Stewart Mackertich sees 60% upside – 11:30am
    – Royal Orchid Hotels currently operates 48 hotels across the country.
  2. Panacea Biotec surges 13% on one-time settlement with lenders – 10:59am
    – The board approved demerger of real estate business of the company through scheme of arrangement subject to applicable approvals.
  3. BEML climbs 4% on order for 7 Metro train sets in Bengaluru – 10:27am
    – The state-owned Mini Ratna company received contract for 7 Metro train sets of 6 cars configuration to augment the metro services in Bengaluru.
  4. Wipro dips 2% as Credit Suisse downgrades, slashes price target by 13% – 10:19am
    – Credit Suisse said the street is already building in 80 bps margin expansion for next year.
  5. LT stock rises after Credit Suisse sees 34% upside as order inflows to be strong – 09:59am
    – Credit Suisse stayed outperform on strong domestic pick-up, lower dependence on Middle East.
  6. Time Technoplast rises 9% on joining hands with Confidence Petroleum – 09:53am
    – The composite cylinders manufactured by Time Technoplast are used world over and Confidence Petroleum India has taken initiative to promote these new generation world class composite cylinders under its brand name GoGas Elite to reach Indian kitchens far wide.
  7. TVS Motor gains 2% after Deutsche Bank upgrades, but cuts price target – 09:42am
    – Deutsche upgraded the stock because it feels the company has been approaching a sweet spot in various categories and may see a sustained increase in margin.

MoneyControl’s Noon D-Street Buzz: Nifty Infra in green led by IRB Infra; UltraTech jumps 2%, Zee Entertainment drags  12:37pm

The top gainers from NSE included UltraTech Cement, Sun Pharma, Bajaj Auto, UPL and NTPC while the top losers included Wipro, Tata Motors, Bharti Infratel, Vedanta and BPCL.

The Indian benchmark indices have turned negative in this Wednesday afternoon session with the Nifty50 down 33 points, trading at 10801 while the Sensex shed 82 points and was trading at 36,891 mark.

Nifty IT was down 1 percent dragged by Wipro, Infosys, HCL Tech, Tech Mahindra and Mindtree.

From the banking space, the top losers were Kotak Mahindra Bank, YES Bank, IDFC First Bank, IndusInd Bank, ICICI Bank and HDFC Bank.

Central Bank of India turned red while Canara Bank, Syndicate Bank, Bank of India and State Bank of India traded in the green.

From the media space, the top losers were Zee Entertainment, EROS International, DB Corp and DEN Networks.

Selective infra stocks were trading in the green led by IRB Infra, NCC, NTPC, Adani Power, CG Power, Tata Communications and Voltas.

The top gainers from NSE included UltraTech Cement, Sun Pharma, Bajaj Auto, UPL and NTPC while the top losers included Wipro, Tata Motors, Bharti Infratel, Vedanta and BPCL.

The most active stocks were YES Bank, Reliance Industries, Axis Bank, TCS and Maruti Suzuki.

UPL, Cantabil Retail India, Odisha Cement, Power Finance Corporation, AstraZeneca Pharma, Bil Energy Systems and Refex Industries have hit new 52-week high in this afternoon session.

35 stocks have hit new 52-week low including GTL Infrastructure, Future Retail, KSS, Nagarjuna Oil Refinery and Visesh Infotecnics among others.

The breadth of the market favoured the advances with 811 stocks advancing and 859 declining while 390 remained unchanged. On the BSE, 1063 stocks advanced, 1207 declined and 126 remained unchanged.

ETMarket’s Noon Market update: 21 stocks hit 52-week lows on NSE  11:44am

Domestic benchmark index NSE Nifty was trading 26.75 points up at 10,862.05 while the BSE Sensex was trading 134.72 points up at 36,108.43.

Around 21 stocks fell to touch their 52-week lows on NSE in Wednesday’s session.

Among the stocks that touched their 52-week lows were Dynacons Systems & Solutions, The Grob Tea Company, Igarashi Motors India, Kitex Garments and N R Agarwal Industries.

Radha Madhav Corporation, Raj Rayon Industries, Thomas Scott and W S Industries also featured among the stocks that touched their 52-week lows on NSE.

On the other hand, AstraZeneca Pharma, Cantabil Retail IndiaNSE -1.22 %, Odisha Cement, Power Finance Corporation and Seamec were the stocks that hit their fresh 52-week highs today.

Domestic benchmark index NSE Nifty was trading 26.75 points up at 10,862.05 while the BSE Sensex was trading 134.72 points up at 36,108.43.

In the Nifty 50 index, UltraTech Cement, Bajaj Auto, Bharti Airtel, Sun Pharma and Larsen & Toubro were among the top gainers on the NSE.

However, Wipro, Bharti Infratel, BPCL, Vedanta and Bajaj Finserv were among the top losers.

Sharekhan Noon Market Update: Markets erase gain on Indo-Pak tensions – 1:00pm

The benchmark indices were trading in red as Pakistan violates Indian air space. At 12.12 pm, Sensex was down by 0.54% or 213 points to 35747. The Nifty slipped by 0.74% or 80 points to 10757.

The Indian rupee is down about 10 paise intraday against the US dollar. One US dollar currently trades at Rs 71.16.

Asian stock market rose ahead of Trump and Kim’s meeting in Vietnam.

Sharekhan’s Pre-market: Indian indices may open higher tracking gains in Asian on dovish Fed – 9:00am

Indian stocks are expected to open higher on February 27, 2019 as Asian stocks gained after Fed Chair Powell’s dovish statement and optimism over US-North Korea talks later today.

US President Donald Trump and North Korean counterpart Kim Jong Un will meet in Vietnam later today.

Nifty futures traded 0.43% higher at 10,869 on Singapore’s SGX Exchange.

Global Markets

US stocks ended lower on February 26, 2019 as investors preferred to remain on the sidelines before next round of US-China trade talks.

Asian stocks gained after US Fed Chair Powell hinted interest rates in the US may not rise in the near term.

Stocks to watch

HDFC AMC: The company approved interim dividend of Rs 12 per share

Reliance Industries: The company said reports of Garden Vareli Brand are mere speculations

Tata Steel: The steel maker approved raising Rs 4000 crore through NCD

NALCO: The company said it will consider an interim dividend for FY2019 on March 1.

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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