Shares bounce back; Nifty reclaims 17,300 level. 18February2022

 

The benchmark indices bounced back in mid-morning trade. At 11:30 IST, the barometer index, the S&P BSE Sensex, rose 55.52 points or 0.10% at 57,947.53. The Nifty 50 index gained 10.30 points or 0.06% at 17,314.90.

In the broader market, the S&P BSE Mid-Cap index fell 0.13% while the S&P BSE Small-Cap index slipped 0.06%.

The market breadth was negative. On the BSE, 1,390 shares rose and 1,740 shares fell. A total of 134 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,242.10 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 901.10 crore in the Indian equity market on 17 February 2022, provisional data showed.

Buzzing Index:

The Nifty IT index slipped 0.40% to 34,497.10. The index shed 1.19% in three trading sessions.

Tech Mahindra (down 0.89%), Infosys (down 0.85%), Wipro (down 0.67%), HCL Technologies (down 0.46%) and Larsen & Toubro Infotech (LTI) (down 0.27%) were the top losers in the IT segment.

Stocks in Spotlight:

Ambuja Cements dropped 4.88%. The company recorded 49.4% fall in standalone net profit to Rs 252 crore despite a 6.1% increase in net sales to Rs 3,679 crore in Q4 CY2021 over Q4 CY2020. Sales volume (cement + clinker) in Q4 CY21 was 7.2 million tons (up 3% Y-o-Y). Cement demand remained subdued, especially in the month of November 2021. Realisation improved by 4% to Rs 5,135 per ton in Q4 CY21 from Rs 4,926 per ton in Q4 CY20. Improvement in realization was on account of favourable geo mix and product mix, the cement maker said. During the quarter and year ended 31 December 2021, there was an exceptional charge of Rs 65.69 crore on account of restructuring cost. EBITDA fell by 26% to Rs 568 crore in Q4 CY2021 from Rs 768 crore in Q4 CY2020.

Gensol Engineering hit an upper circuit limit of 5% to Rs 259.45 after the company said it bagged deals worth over Rs 70 crore for building solar power projects of around 24 MWp cumulative capacity in the states of Madhya Pradesh and Punjab. Gensol Engineering has received purchase orders for the development of grid-connected ground-mount and rooftop solar power generation systems cumulating to a capacity of around 24 megawatt peak (MWp) in the states of Punjab and Madhya Pradesh. The cumulative price of these projects is pegged at over Rs 70 crore.

Global Markets:

Most Asian stocks declined on Friday after an exchange of fire in eastern Ukraine and renewed U.S. warnings of an imminent Russian invasion had investors looking for safety ahead of the weekend.

Russian-backed rebels and Kyiv's forces reportedly traded accusations that each had fired across a ceasefire line on Thursday and U.S. president Joe Biden said his sense was that a Russian invasion will happen in the next several days.

In the US, the number of Americans filing new claims for jobless benefits unexpectedly rose last week. Initial claims for state unemployment benefits increased 23,000 to a seasonally adjusted 248,000 for the week ended February 12.

Benchmarks trade with small cuts; Nifty below 17,300 mark. 18February2022

 

The benchmark indices were trading lower in morning trade, tracking negative global cues. Pharma, healthcare and IT stocks were under pressure. The Nifty was hovering a tad below 17,300 level.

The ongoing Russia-Ukraine crisis stands at a pivotal moment, with Kyiv accusing pro-Moscow separatists of attacking a village near the border. The crisis re-escalated following an exchange of fire in eastern Ukraine and renewed U.S. warnings of an imminent Russian invasion.

The barometer index, the S&P BSE Sensex, fell 58.40 points or 0.10% at 57,833.61. The Nifty 50 index slipped 19.15 points or 0.11% at 17,285.45.

In the broader market, the S&P BSE Mid-Cap index skid 0.15% while the S&P BSE Small-Cap index lost 0.06%.

The market breadth was negative. On the BSE, 1,395 shares rose and 1,603 shares fell. A total of 126 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,242.10 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 901.10 crore in the Indian equity market on 17 February 2022, provisional data showed.

Buzzing Index:

The Nifty Pharma index declined 0.78% to 13,220.40. The index lost 1.52% in two trading sessions.

Gland Pharma (down 2.61%), Cipla (down 2.12%), Cadila Healthcare (down 1.63%), Aurobindo Pharma (down 1.52%) and Divi's Laboratories (down 1.41%) were the top losers in the Pharma segment.

Lupin slipped 0.11%. The company, on Thursday, announced that the USFDA has approved the company's supplemental New Drug Application to expand the use of SOLOSEC (secnidazole) in the treatment of bacterial vaginosis. The drug will be used for female patients 12 years of age and older and in the treatment of trichomoniasis for all patients 12 years of age and older. Bacterial vaginosis is a common vaginal infection and trichomoniasis is the most common non-viral, curable sexually transmitted infection in the U.S. Secnidazole oral granules is the first and only single-dose oral prescription approved to treat both bacterial vaginosis (BV), a common vaginal infection. The drug is designed to be easy to take and one oral dose contains a complete course of treatment.

Stocks in Spotlight:

CSB Bank advanced 3.26%. The bank said that the Reserve Bank of India (RBI) has approved the appointment of Pralay Mondal as the deputy managing director of the bank, for a period of three years. On June 8, 2021, the bank had announced the appointment of Pralay Mondal as the deputy managing director of the bank, subject to RBI's approval.

Hero MotoCorp lost 0.41%. The two-wheeler major has inaugurated its new dealership - Surya Hero in Jaipur, Rajasthan. Surya Hero will act as a one-stop-shop for all the sales and customer service requirements, in addition to offering the latest range of Hero-branded merchandise and accessories at the dealership.

Sensex, Nifty nudge lower in early trade; breadth weak. 18February2022

 

The domestic equities suffered modest losses in early trade, mirroring weak global cues. IT and pharma stocks fell.

The barometer index, the S&P BSE Sensex, dropped 152.20 points or 0.26% at 57,739.81. The Nifty 50 index lost 82.80 points or 0.48% at 17,221.80.

In the broader market, the S&P BSE Mid-Cap index declined 0.34% while the S&P BSE Small-Cap index fell 0.39%.

The market breadth was weak. On the BSE, 624 shares rose and 1,030 shares fell. A total of 80 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,242.10 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 901.10 crore in the Indian equity market on 17 February 2022, provisional data showed.

Stocks in Spotlight:

Ambuja Cements dropped 3.92%. The company reported 55% fall in consolidated net profit to Rs 431 crore on 2.1% rise in net sales to Rs 7,503 crore in Q4 CY21 over Q4 CY20.

Lupin lost 0.20%. Lupin Pharmaceuticals Inc., (Lupin) announced that the U.S. Food and Drug Administration approval of the Supplemental New Drug Application for SOLOSEC (secnidazole) in adolescents for both the treatment of bacterial vaginosis in females and trichomoniasis.

Birla Corporation rose 0.12%. The company informed that it has approved the allotment of 1,500 (AA) rated, listed, secured, redeemable Non- Convertible Debentures of Rs 10 lakh each aggregating to Rs. 150 crore on private placement basis.

Easy Trip Planners declined 0.55%. The company has fixed 2 March 2022 as the record date, for the purpose of ascertaining the eligibility of shareholders entitled for issue of bonus equity shares of the company in the proportion of one equity share of Rs 2 each for each equity share held.

Global Markets:

Most Asian stocks edged lower on Friday after an exchange of fire in eastern Ukraine and renewed U.S. warnings of an imminent Russian invasion had investors looking for safety ahead of the weekend.

US stocks slumped Thursday amid heightened tensions between Russia and Ukraine with confused investors dumping risky assets and rotating into bonds.

Russian-backed rebels and Kyiv's forces reportedly traded accusations that each had fired across a ceasefire line on Thursday and U.S. president Joe Biden said his sense was that a Russian invasion will happen in the next several days.

The number of Americans filing new claims for jobless benefits unexpectedly rose last week. Initial claims for state unemployment benefits increased 23,000 to a seasonally adjusted 248,000 for the week ended February 12.

Shares trade with decent gains; India VIX up over 2%. 17February2022

   

The key equity indices traded with minor gains in early afternoon trade. The Nifty continued to trade above the 17,350 mark. Metal shares witnessed some bit of buying after a day's pause.

The barometer index, the S&P BSE Sensex, was up 140.71 points or 0.24% to 58,137.39. The Nifty 50 index added 57.45 points or 0.33% at 17,379.65.

In the broader market, the S&P BSE Mid-Cap index gained 0.36% while the S&P BSE Small-Cap index rose 0.02%.

The market breadth was positive. On the BSE, 1,639 shares rose and 1,579 shares fell. A total of 121 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, rose 2.74% to 21.16. The Nifty 24 February 2022 futures were trading at 17,397.65, at a premium of 18 points as compared with the spot at 17,379.65.

The Nifty option chain for 24 February 2022 expiry showed maximum Call OI of 31.9 lakh contracts at the 18,000 strike price. Maximum Put OI of 46.9 lakh contracts was seen at 17,000 strike price.

Buzzing Index:

The Nifty Metal index advanced 0.83% to 5,860.15. The index had declined 0.57% to end at 5,812.15 yesterday.

Hindalco Industries (up 1.56%), JSW Steel (up 1.40%), Jindal Steel & Power (up 1.38%), Vedanta (up 1.25%), Tata Steel (up 1.17%), Adani Enterprises (up 1.09%) and Hindustan Zinc (up 0.79%) advanced.

Concurrently, NMDC (down 4.13%), Welspun Corp (down 2.43%), Hindustan Copper (down 2.12%) and National Aluminum Co. (down 2.11%) declined.

Stock in Spotlight:

Mawana Sugars jumped 10.41% to Rs 120.90. According to the bulk deals on the NSE, McKinley Capital Emerging Markets Growth Fund Series A purchased 2,65,688 shares of Mawana Sugars (representing 0.68% stake) on the NSE on Wednesday (16 February 2022) at an average price of Rs 103.67 per share.

Maruti Suzuki India shed 0.33% to Rs 8556. The company announced its partnership with Quiklyz by Mahindra Finance for its Subscribe program. Quiklyz will offer a white plate subscription for the Maruti Suzuki range of vehicles. The Company has further added Kolkata market to its Subscription program.

Benchmarks drift higher in early trade; Nifty above 17,400. 17February2022

The benchmark indices opened with decent gains during early morning trade, backed by a strong demand in auto and oil & gas scrips. The Nifty re-claimed 17,400 mark.

Oil skid in early Asian trade on Thursday after both France and Iran said parties were closer to an agreement to salvage Iran's 2015 nuclear deal with world powers, offsetting ongoing concerns over the situation in Ukraine. In the commodities market, Brent crude for April 2022 settlement fell $1.77 at $93.04 a barrel.

The barometer index, the S&P BSE Sensex, jumped 242.27 points or 0.42% at 58,238.95. The Nifty 50 index gained 78.75 points or 0.45% at 17,400.95.

In the broader market, the S&P BSE Mid-Cap index added 0.45% while the S&P BSE Small-Cap index rose 0.51%.

The market breadth was strong. On the BSE, 1,712 shares rose and 481 shares fell. A total of 74 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,890.96 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,180.14 crore in the Indian equity market on 16 February 2022, provisional data showed.

Upcoming Results:

Nestle India (up 0.70%) and Ambuja Cements (up 1.12%) will report their quarterly results today.

Stocks in Spotlight:

Wipro rose 1.45%. The IT major has been awarded a five-year, strategic engagement to drive transformation for ABB's Information Systems digital workplace services. The agreement, worth over $150 million, will help ABB's Information Systems deliver enhanced, consumer-grade digital experiences for its 1,05,000 employees in over 100 countries.

Tata Consultancy Services (TCS) gained 0.32%. TCS announced a partnership with MATRIXX Software to integrate TCS HOBS, its plug and play digital business platform for subscription, device and data management, with the cloud native, converged charging capabilities of the MATRIXX Digital Commerce Platform.

Infosys added 0.82%. The IT major announced it has been named a Foundational Partner for the launch of Google Cloud Cortex Framework. As a Foundational Partner, Infosys will help clients accelerate digital transformation and power new business capabilities with its market-leading data, analytics and AI expertise.

Tata Motors advanced 2.07%. Jaguar Land Rover has formed a multi-year strategic partnership with NVIDIA, the leader in artificial intelligence (AI) and computing, to jointly develop and deliver next-generation automated driving systems plus AI-enabled services and experiences for its customers. Jaguar Land Rover is a wholly owned subsidiary of Tata Motors.

Hindustan Aeronautics (HAL) lost 0.69%. The company has received award by consent passed by the International Court of Arbitration of the International Chamber of Commerce (ICC) in the arbitration claim filed by RUAG Aerospace Services GmbH (now taken over by General Atomics AeroTec Systems GmbH) against the company, on joint request by both the parties after resolving their disputes pursuant to a settlement agreement between both the parties.

Global Markets:

Most Asian stocks advanced on Thursday as investors continue to monitor the situation surrounding Ukraine. Japan's January exports came in far below expectations, with official data released on Thursday showing a 9.6% year-on-year rise for that month.

Wall Street bounced off session lows Wednesday with the S&P 500 crossing into positive territory by the closing bell as investors surveyed the latest update from the Federal Reserve and the status of Russia's military build-up near Ukraine.

Federal Reserve officials last month agreed that, with inflation tightening its grip on the economy and employment strong, it was time to raise interest rates, but also that any decisions would depend on a meeting-by-meeting analysis of inflation and other data, according to the minutes of the Jan. 25-26 policy meeting.

Most participants noted that, if inflation does not move down as they expect, it would be appropriate for the FOMC to remove policy accommodation at a faster pace than they currently anticipate, the minutes stated.

In geopolitical developments, NATO on Wednesday accused Russia of increasing the number of troops it has gathered at the Ukrainian border, a day after Moscow claimed it had begun withdrawing some of its military units.

Nifty trades near 17,400; NSE VIX drops over 2%. 16February2022

   

The key equity indices bounced back from the day's low and were trading with minor gains in early afternoon trade. The Nifty hovered near the 17,400 mark. Pharma shares rose for the second day.

The barometer index, the S&P BSE Sensex, was up 20.17 points or 0.13% to 58,219.99. The Nifty 50 index added 40.15 points or 0.23% at 17,392.60.

In the broader market, the S&P BSE Mid-Cap index rose 0.55% while the S&P BSE Small-Cap index gained 0.91%.

The market breadth was strong. On the BSE, 2,237 shares rose and 1,009 shares fell. A total of 110 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, fell 2.14% to 20.17. The Nifty 24 February 2022 futures were trading at 17,380.60, at a discount of 12 points as compared with the spot at 17,392.60.

The Nifty option chain for 24 February 2022 expiry showed maximum Call OI of 27.9 lakh contracts at the 17,500 strike price. Maximum Put OI of 38.9 lakh contracts was seen at 17,000 strike price.

Buzzing Index:

The Nifty Pharma index rose 0.51% to 13,425.25, extending gains for second day. The index has added 1.31% in two sessions.

Strides Pharma (up 4.22%), Abbott India (up 4%), Divi's Labs (up 2.41%), Lupin (up 1.60%), Dr. Reddy's Labs (up 1.18%), Pfizer (up 0.67%) advanced while Sun Pharma (down 0.75%), Alembic Pharmaceuticals (down 0.57%), Gland Pharma (down 0.43%) and Natco Pharma (down 0.37%) declined.

Stock in Spotlight:

Wheels India rose 1.94% to Rs 654. The company said that the credit ratings agency ICRA had downgraded the company's long-term and short-term ratings while reaffirming the medium-term rating. ICRA said that the downgrade in the long-term and short-term ratings considers substantial increase in Wheels India's debt levels resulting in moderation in the company's debt metrics and the expectation that it would remain relatively high over the medium term.

Info Edge (India) fell 1.18% to Rs 4623.50. The company said that it has entered into an agreement to acquire 25% stake in Juno Learning (Juno) for an amount of about Rs 11.25 crore. Juno is engaged in the business, which is an interactive, online school that teaches sales techniques, processes, and tools to students and entry-level professionals in an experiential manner, to enhance employability..

Equities drag minor losses; Nifty holds 17,300 level. 16February2022

The benchmark indices extended modest losses during mid-morning trade, as banks continue to drag the market lower. The Nifty gradually slips further into the negative territory, managing to hover tad above 17,300 mark.

The barometer index, the S&P BSE Sensex, declined 210.31 points or 0.36% at 57,931.74. The Nifty 50 index lost 43.90 points or 0.25% at 17,308.55.

In the broader market, the S&P BSE Mid-Cap index rose 0.17% while the S&P BSE Small-Cap index gained 0.61%.

The market breadth was strong. On the BSE, 2,103 shares rose and 1,082 shares fell. A total of 105 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 2,298.76 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 4,411.60 crore in the Indian equity market on 15 February 2022, provisional data showed.

Economy:

India's overall exports in January this year are estimated to be 61.41 billion dollars, exhibiting a positive growth of 36.76% over the same period last year and a positive growth of 38.90% over January 2020. Overall imports in January this year are estimated to be 67.76 billion dollars, exhibiting a slower rate of growth of 30.54% over the same period last year and a positive growth of 30.19% over January 2020.

India's overall exports in April to January 2021-22 are estimated to be 545.71 billion dollars. This is a positive growth of 37.68% over the same period last year and a positive growth of 23.29% over April-January 2019-20. Overall imports in April-January 2021-22 are estimated to be 616.91 billion, exhibiting a positive growth of 54.35% over the same period last year and a positive growth of 20.15% over April-January 2019-20.

Buzzing Index:

The Nifty Bank index slipped 0.95% to 37,808.40. The index lost 3.42% in the last trading session.

State Bank of India (SBI) (down 1.73%), ICICI Bank (down 1.43%), AU Small Finance Bank (down 1.35%), Federal Bank (down 1.34%) and Axis Bank (down 0.80%) were the top losers in the Bank segment.

Punjab & Sind Bank jumped 6.58%. The public sector lender declared IL&FS Tamil Nadu Power as fraud account and has considered it as bad asset with dues of over Rs 148 crore. The bank has reported it to the Reserve Bank of India. Punjab & Sind Bank said that it had already made provisions amounting to Rs 59.54 crore, as per prescribed prudential norms. Meanwhile, the bank's board will meet on 17 February 2022 to consider allotting equity shares worth upto Rs 4,600 crore to the Government of India by way of preferential issue of equity shares.

Stock in Spotlight:

Repco Home Finance rallied 5.81%. The company said it has appointed K. Swaminathan as the managing director and chief executive officer for a period of three years. The company also appointed K. Lakshmi as the chief financial officer. T. Karunakaran resigned from the post of chief financial officer of the company with effect from 14 February 2022, due to elevation to the post of whole-time director of the company.

Global Markets:

Asian stocks traded higher on Wednesday, as investors react to China's inflation data. Meanwhile, tensions appeared to ease between Russia and Ukraine, boosting markets.

China's consumer price index for January rose 0.9% as compared with a year ago, slightly lower than expectations. Chinese producer inflation for January was also below expectations. The producer price index for January rose 9.1% as compared with a year earlier.

Wall Street ended sharply higher on Tuesday, as signs of de-escalating tensions along the Russia-Ukraine border sparked a risk-on session.

Russia's government announced Tuesday that Moscow is starting to return some troops at the Ukrainian border, though NATO's chief warned that the military alliance has so far not seen any sign of de-escalation on the ground from the Russian side.