The momentum oscillator RSI (14) on the daily chart has taken support near 55 levels and shown a strong reversal with a bullish crossover on the cards.
As long as Nifty’s 18213 support is held, expect the index to bounce towards its psychological hurdle at the 18,500 mark and then aggressive targets at its all-time high at 18,888 mark, said Prashanth Tapse of Mehta Equities.
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S Naren on his top sectoral plays and investing during volatility
NSE Q4 Results: Net profit rises 19% YoY to Rs 1,810 crore; dividend declared at Rs 80 per share
Bharti Airtel Q4 Preview: Revenue growth to be modest; flat ARPU eyed
TPG to buy investment firm Angelo Gordon in $2.7 bln deal
Major private equity firms have been expanding beyond their mainstay business as the equity funding market loses steam. They are also strengthening their direct lending arms, which provide credit to businesses, to take advantage of high interest rates.
TPG has been strengthening its credit investing business since splitting from its credit arm Sixth Street in 2020. It said Angelo Gordon offers diversification in credit investing, including corporate credit, direct lending and structured credit.
Shares of TPG were down 3.8% in early trading.
Analysts also expect private equity firms to step in to fill the gap left by regional banks, which have traditionally been crucial lenders to the commercial real estate industry but are now tightening their credit standards after the collapse of three U.S. banks this year.
Share of foreign holders of Russian Eurobonds dips to 44.7%
The share of non-residents among holders of Russian Eurobonds alipped to 44.7% as of April 1, down from 45% on Jan. 1, the central bank said on Monday.
In cash terms, the value of the holdings stood at $16.1 billion, according to central bank data.
ICICI Bank, Infosys among top 10 holdings of HDFC MF. Full list here
Wall Street mixed ahead of updates on US shoppers
The S&P 500 was virtually unchanged in its first trading after closing out a second straight down week. The Dow Jones Industrial Average was down 66 points, or 0.2%, at 33,234, as of 9:40 a.m. Eastern time, while the Nasdaq composite was 0.1% higher.
Some of the sharper moves came from companies announcing takeovers of rivals, including an 8.7% drop for energy company Oneok after it said it’s buying Magellan Midstream Partners. Magellan jumped 14%. But the larger market was relatively quiet as several concerns continue to drag on Wall Street.
Reputed investor Ashish Kacholia and Bengal Finance and Investments buy 4.05% equity shares of Aeroflex Industries Limited
PVR Inox Q4 Results: Firm reports loss of Rs 333 cr; revenue jumps 113% YoY
FIIs, DIIs net buyers today
Foreign portfolio investors (FPIs) bought shares worth Rs 1,685 crore on Monday. DIIs too bought stock worth Rs 191 crore.
Tech View: Nifty forms high wave type candlestick. What should traders do on Tuesday?
The momentum oscillator RSI (14) on the daily chart has taken support near 55 levels and shown a strong reversal with a bullish crossover on the cards.
As long as Nifty’s 18213 support is held, expect the index to bounce towards its psychological hurdle at the 18,500 mark and then aggressive targets at its all-time high at 18,888 mark, said Prashanth Tapse of Mehta Equities.
SpiceJet subsidiary SpiceXpress to get USD 100 mn from UK group
Also, last week, the airline said it has no plans to file for insolvency and would invest USD 50 million to revive 25 grounded planes. The United Kingdom-based SRAM & MRAM Group will invest USD 100 million in SpiceXpress. Both sides have signed a Memorandum of Understanding (MoU) as part of the investment deal, the airline said in a release on Monday.
Rupee falls 13 paise to close at 82.31 (provisional) against US dollar.
Domestic benchmark indices are marching ahead driven by favourable developments such as declining inflation levels, steady foreign inflows, and in anticipation of robust earnings growth on a QoQ basis next quarter, due to drop in global commodity prices. The domestic CPI inflation came in better than expected at 4.7%, and the WPI inflation decreased by 0.92%, reaffirming RBI’s decision to hold rate hikes.
– Vinod Nair, Head of Research at Geojit Financial Services
Closing Bell: Sensex extends gains to day 2, ends 318 pts higher; Nifty near 18,400; Ujjivan SFB, DLF surge 7% each
Kalyan Jewellers Q4 Results: Net profit dips 3.11% YoY to Rs 697.99 cr
The company’s total income rose to Rs 3,396.42 crore during the fourth quarter of the 2022-23 fiscal, from Rs 2,868.52 crore in the year-ago period, but expenses remained higher at Rs 3,268.47 crore, as against Rs 2,772.64 crore in the said period.
In the filing, Kalyan Jewellers showed Rs 33.35 crore as exceptional item against sale of two aircraft owned by the company as part of the management’s overall strategy to dispose of non-core assets.
Japan’s top banks expect solid profits, MUFG sees record year
MUFG forecast a 16% increase in net profit to 1.3 trillion yen ($9.63 billion) for the year ending in March 2024, exceeding a previous record set two years ago and beating the 1.18 trillion yen average of 14 analysts’ estimates compiled by Refinitiv.
Sumitomo Mitsui Financial Group Inc (SMFG) and Mizuho Financial Group Inc, Japan’s second- and third-largest lenders by assets, also expect their highest net profits since the mid 2010s.
Nify Bank nears all-time high!
KKR-backed Envision Healthcare files for bankruptcy
The company said it entered into a restructuring support agreement for debt obligations of about $7.7 billion under which its unit AMSURG which manages ambulatory surgery centers and Envision Physician Services will be separately owned.
Envision’s AMSURG unit will buy surgery centers held by the company for $300 million plus a waiver of intercompany loans held by AMSURG, it said in a statement.
Sebi has reached out to 11 overseas regulators for information to investigate public float in adani group companies: court filing
Nifty50 nears 5-month high; crosses 18,450 mark
Sensex surges 500 pts!
SBC Exports gets awarded work order worth Rs. 84,39,336 for supply of Manpower by State Bank of India.
Price as on 15 May, 2023 01:24 PM, Click on company names for their live prices.
European stocks rise as investors eye politics, economic data
The pan-European STOXX 600 index gained 0.4%, with personal and household goods and travel and leisure stocks leading gains.
AXA rose 1.7% after Europe’s second-biggest insurance company said its first-quarter sales rose 2% as growth of its property and casualty policies offset a fall in revenue from savings products in France and Italy.
Vedanta appoints Sonal Shrivastava as CFO.
Price as on 15 May, 2023 12:47 PM, Click on company names for their live prices.
BSE relaunches Sensex, Bankex derivative contracts
Derivatives are considered to be high-risk-reward financial instruments aimed at hedging risk in the equity market.
BSE had launched Sensex-30 derivatives (options and futures) for the first time in 2000.
Check out the top gainers!
Price as on 15 May, 2023 12:30 PM, Click on company names for their live prices.
Market Live Updates: Sensex surges 400 pts!
The Banknifty index has been demonstrating strong leadership and is expected to reach a new all-time high. However, it is important to acknowledge the possibility of profit booking at this level. If the index manages to stay above the previous high of 44151, it is likely to move toward the 44444 and 45000 levels. On the downside, the rising 20-day moving average (DMA) offers a robust support level, currently located at the 43000 level, and is expected to counter any potential pullbacks. It is worth noting that a significant profit booking may only occur if the index falls below the 20-DMA.
– Santosh Meena, Head of Research, Swastika Investmart
India’s market regulator cautions against premature conclusion of Adani probe
The Securities and Exchange Board of India (SEBI), in a court filing, said it has already approached eleven overseas regulators for information to examine if the Adani group had violated any norms regarding its publicly available shares.
These stocks move in line with market mood, rise up to 9%
Price as on 15 May, 2023 11:59 AM, Click on company names for their live prices.
Tokyo markets end higher
The Nikkei index rose 0.81 percent or 238.04 points to end at 29,626.34, while the broader Topix index added 0.88 percent or 18.46 points to 2,114.85.
Adani Group stocks were trading in the red ahead of a Supreme Court hearing scheduled, later today. On Friday, the apex court had said that it will be examining a special panel’s report on the Adani group’s possible lapses in regulatory disclosures and pass orders.
Price as on 15 May, 2023 11:34 AM, Click on company names for their live prices.
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Nifty Bank crosses 44,000-mark, around 150 points away from record high
Hikal announces US FDA audit with zero observations; stock gains 3%
Price as on 15 May, 2023 10:36 AM, Click on company names for their live prices.
Easy Trip Planners says Easemytrip partners with Swiggy.
Price as on 15 May, 2023 10:12 AM, Click on company names for their live prices.
MARKET TODAY | Sensex jumps 250 points
The UK-based SRAM & MRAM Group will invest $100 million in SpiceXpress, the cargo division of Indian budget airline SpiceJet, the airline said on Monday.
Price as on 15 May, 2023 09:52 AM, Click on company names for their live prices.
Adani stocks in the red after fund raising announcements
Price as on 15 May, 2023 09:47 AM, Click on company names for their live prices.
Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services on stock market
The macro picture is mixed with declining CPI inflation (4.7% in April ) but worrisome dip in March IIP at 1.1%. But from the market perspective the news is good since the RBI can be expected to ‘extend the pause’ in the June policy meet.
The market construct favours buy on dips with focus on autos and financials. Bank Nifty is slowly moving to record highs.
Auto stocks in top gear. Check out top gainers
Price as on 15 May, 2023 09:40 AM, Click on company names for their live prices.
EARNINGS IMPACT | Tata Motors Group reported a better-than-expected net profit of Rs 5408 crore for the March quarter over the year ago period on back of a robust operational performance at Jaguar Land Rover Automotive and India business. The Mumbai-headquartered firm had reported a loss of Rs1033 crore in the corresponding period of FY22.
Price as on 15 May, 2023 09:25 AM, Click on company names for their live prices.
EARNINGS IMPACT | Direct-to-home firm Dish TV India Ltd has reported a consolidated net loss of Rs 1,720.62 crore for the fourth quarter that ended on March 31, 2023, mainly on account of impairments and deferred tax liability. The company had reported a net loss of Rs 2,031.99 crore in the January-March quarter a year ago, Dish TV said in a BSE filing.
Price as on 15 May, 2023 09:25 AM, Click on company names for their live prices.
EARNINGS IMPACT | Radhakishan Damani-owned Avenue Supermarts, which runs the DMart chain of retail stores, today reported 8.33% YoY rise in March quarter standalone net profit at Rs 505.21 crore. The company’s revenue jumped 21.11% YoY to Rs 10,337.12 crore.
Price as on 15 May, 2023 09:24 AM, Click on company names for their live prices.
These are the most active stocks on NSE in early trade
Price as on 15 May, 2023 09:24 AM, Click on company names for their live prices.
Opening Bell: Sensex gains 150 points, Nifty above 18,350; Tata Motors jumps 4%, Dish TV tumbles 5%
Pre-open session: Sensex rises 150 points; Nifty above 18,400
Markets are likely to see a gap down opening in Monday trades tracking weakness in other Asian indices as risk aversion is likely to be the preferred theme. Denting sentiments will primarily be reports of ruling party BJP’s setback in Karnataka assembly elections. Also, weak Wall Street cues in the backdrop of a worse-than-expected reading on consumer sentiment could also keep investors cautious. India’s WPI inflation numbers to be announced later this week will also be keenly watched given the uncertainty over the future course of interest rate direction. Technically, Nifty is likely to be in a trading range of 18000-18800 zone.
– Prashanth Tapse, Senior VP (Research), Mehta Equities
Markets Live Updates: Oil falls as economic concerns offset prospect of tighter supplies
Oil prices slipped on Monday as concerns about fuel demand at top global oil consumers U.S. and China offset optimism about tightening supplies from any OPEC+ cuts and a resumption in U.S. buying for reserves.Brent crude futures fell 43 cents, or 0.6%, to $73.74 a barrel by 0130 GMT while U.S. West Texas Intermediate crude was at $69.67 a barrel, down 37 cents, or 0.5%.
Markets Live Updates: Asian shares brace for China data, Fed speakers
Asian stocks started cautiously on Monday as investors braced for a China policy rate decision and economic data this week, while awaiting a host of U.S. Federal Reserve officials to speak to vindicate market pricing of rate cuts this year.
Quarterly earnings today
Tube Investments, Astral, Coromandel International, Pfizer, PVR Inox and a slew of other companies will announce their quarterly results today.
Markets Live Updates: SGX Nifty signals a negative start
Nifty futures on the Singapore Exchange traded 54.5 points, or 0.30 per cent, lower at 18,269.50, signaling that Dalal Street was headed for negative start on Monday.
Tech View: Nifty forms long bull candle on weekly charts
Nifty today formed a small green candle with a long lower shadow, which indicates buying is visible at lower zones. The weekly scale saw the formation of a long bull candle with a minor upper shadow to negate last week’s bearish pattern.
US stocks slip with tech-related shares; consumer sentiment drops
U.S. stocks ended slightly lower on Friday, led by weaker megacap shares following their recent rally, as data showed U.S. consumer sentiment dropped to a six-month low.
Rupee falls 9 paise to close at 82.18 against US dollar
Falling for the second straight session, the rupee depreciated by 9 paise to settle at 82.18 against the US dollar on Friday, as a strong greenback overseas weighed on investor sentiments.
Sensex, Nifty on Friday
The BSE benchmark Sensex rose 123 points or 0.20% to settle at 62,027. The broader NSE Nifty rose 18 points or 0.10% to end at 18,315.
