MARKET WRAP: Indices end flat, Sensex slips 27 pts; Suzlon Energy gains 31%

The benchmark indices settled flat on Friday amid a rise in automobile and metal stocks. The S&P BSE Sensex ended at 35,871, down 27 points, while the broader Nifty50 index settled at 10,792, up 2 points.

Among sectoral indices, Nifty Auto index rose 1.5 per cent driven by gains in Motherson Sumi Systems and Tata Motors. The Nifty Metal index, too, rose 1.65 per cent led by Jindal Stainless (Hisar) and Welspun Corp.

In the broader market, the S&P BSE MidCap index gained 54 points, or 0.38 per cent to 14,170, while S&P BSE SmallCap index settled at 13,518, up 104 points, or 0.77 per cent.

Buzzing Stocks

Shares of Reliance Nippon Life Asset Management surged 20 per cent to Rs 224 in intra-day trade, rallying 44 per cent in past two trading sessions on the BSE, after Reliance Capital decided to put its stake in the company up for grabs. The stock settled at Rs 199, up 6.3 per cent on Friday.
 

Suzlon Energy jumped 31 per cent to end at Rs 5.80 on the BSE. In intra-day deals, the stock had touched a high of Rs 6.15, rallying 68.5 per cent in the past two trading sessions from a level of Rs 3.65 on Wednesday.
 

Global Markets

Shares in Asia slipped on Friday as a deteriorating global economic outlook outweighed further signs of progress in trade talks between China and the United States.

After inching higher in early trade, MSCI's broadest index of Asia-Pacific shares outside Japan fell into the red as more markets opened across the region, dipping 0.1 per cent. Chinese blue-chip shares were down 0.1 per cent in late-morning trade after briefly breaking into positive territory. Seoul's Kospi lost 0.3 per cent. Shares in Taiwan were also 0.3 per cent lower. Japan's Nikkei was down 0.4 per cent.

(with Reuters input)

3:35 PM

Sectoral trends on NSE

3:34 PM

Top gainers and losers of the day on S&P BSE Sensex

3:33 PM

Market at close

The S&P BSE Sensex ended at 35,871, down 27 points while the broader Nifty50 index settled at 10,792, up 2 points.

3:24 PM

Gold prices rise on trade talk optimism; Fed stance limits gains

Gold inched up on Friday as optimism over US-China trade talks pressured the dollar, but signs that the US Federal Reserve could raise interest rates again this year kept prices below a 10-month high hit earlier this week. Spot gold had risen 0.2 percent to $1,325.52 per ounce. The metal was headed for a second straight weekly rise, up almost 0.4 percent this week. US gold futures were subdued at $1,328.1 per ounce. READ MORE

3:03 PM

Top gainers in BSE 500

COMPANY	PRICE(rs)	CHG(rs)	CHG(%)	VOLUME
SUZLON ENERGY	5.60	1.17	26.41	16836864
TAKE SOLUTIONS	113.50	14.50	14.65	124988
INOX WIND	72.00	8.50	13.39	90117
RAIN INDUSTRIES	105.45	9.55	9.96	144255
INDIABULLS INTEG	265.15	21.70	8.91	61051

2:47 PM

Asia's surging fuel exports depress refining industry profits

Asia's biggest oil consumers are flooding the region with fuel as refining output is exceeding consumption amid a slowdown in demand growth, pressuring industry profits.

 

Since 2006, the Asia-Pacific has been the world's biggest oil consuming region, led by traditional industrial users South Korea and Japan along with rising economic powerhouses China and India. READ MORE

2:33 PM

Top gainers and losers on S&P BSE Sensex

2:19 PM

SPECIAL REPORT :: What FPIs, MFs bought & sold in the December quarter

FPIs sold equities worth Rs191 bn in the quarter ended December 2018. FPI ownership in the BSE-200 Index was steady at 23.6% in the December quarter. 

Highest increase in stake

 

·         FPIs – Bharat Financial Inclusion, Divi’s Laboratories and Just Dial

 

·         MFs – J K Cement, Axis Bank and CG Power and Industrial

 

·         BFIs –IDBI, Ashok Leyland and Kalpataru Power Transmission

 

Highest decrease in stake

 

·         FPIs – HCG, Vakrangee and Yes Bank

 

·         MFs – Schaeffler India, Bharat Financial Inclusion and Arvind

 

·         BFIs – Ujjivan Financial Services, National Aluminium Co. and Punjab National Bank

 

Key sectoral changes

 

·         FPIs – sold banks, IT services and oil, gas & consumable fuels

 

·         MFs – bought banks, IT services and oil, gas & consumable fuels

 

·         BFIs – bought banks, oil, gas & consumable fuels and automobiles & components

 

Overweight/underweight sectors

 

·         FPIs were overweight on banks and diversified financials; underweight on consumer staples and oil, gas & consumable fuels

 

·         MFs were overweight on banks and capital goods; underweight on consumer staples and oil, gas & consumable fuels

2:15 PM

Just In | Adani Defence bags UAV contract from Indian Army worth $2 billion: Agencies

2:09 PM

Market check

1:57 PM

Suzlon Energy gains over 50%, GVK Power rises 30% in two days

Shares of Suzlon Energy and GVK Power & Infrastructure rallied by up to 26 per cent on Friday in an otherwise subdued market. In comparison, the S&P BSE Sensex was down 0.09 per cent at 35,867 points at 12:45 pm. Suzlon Energy moved higher by 26 per cent to Rs 5.60 on the BSE in intra-day trade today, surging 53 per cent in the past two trading days from a level of Rs 3.65 on Wednesday. The trading volumes on the counter more than doubled with a combined 97.39 million equity shares changed hands on the NSE and BSE so far. READ MORE

1:44 PM

Elara Capital on Astral Poly Technik

We initiate coverage of Astral Poly with an Accumulate rating and a 12-month target price of Rs 1,148, implying 5% upside from the current levels. Our target price is based on 44x FY21E EPS of INR 26.3. Our one-year forward target of 44x is on par with ASTRA’s five-year average and at a 5% premium to three-year average one-year forward P/E.

This premium is justified, given its aggressive growth story, improving free cashflow trend and long-term structural tailwinds. The stock currently trades at 66x FY19E P/E, 51x FY20E P/E and 42x FY21E P/E. Despite good business fundamentals and strong growth prospects, at current valuations growth is already factored in and investors should wait to add on new positions

1:40 PM

Anand rathi Research on Orient Refractories

With its higher focus on the total refractory market, the scope for Orient’s long-term revenue growth looksfarfetched. On the performances of the newly added RHI India and RHI Clasil,and the modest pace of domestic steel production, we anticipate its revenue coming at a ~12% CAGR over FY19-21.

With  price competition (in RHI Clasil) and the rupee depreciation (in RHI India), margins are unlikely to reflect the full benefits of the synergies achieved in FY19. Backed by its long-term growth prospects, we maintain our Buy recommendation, and roll over our target to FY21 (Rs 248, at 22x FY21e earnings

1:39 PM

HSBC expects the MPC to cut rates in April

We believe current core inflation is afflicted by several shocks (health/education prices, GST, oil), which could abate over the next 12 months. Once core inflation stabilizes from c6% now to the 4.5-5% range, and food inflation begins to normalize, we expect headline inflation to converge gradually towards core, resting at the 4% target one year from now. Until then, however, headline inflation could remain well under 4%. We expect a 25bp repo rate cut in the April meeting, taking the policy repo rate to 6%

 

 

1:37 PM

Top losers on BSE500

COMPANY	PRICE(RS)	CHG(Rs)	CHG(%)	VOLUME
S H KELKAR & CO.	150.95	-5.45	-3.48	554748
KOTAK MAH. BANK	1244.60	-44.30	-3.44	4253280
SHANKARA BUILD.	430.05	-14.20	-3.20	7665
PERSISTENT SYS	609.80	-19.95	-3.17	12354
EDELWEISS.FIN.	146.70	-4.60	-3.04	105032