MARKET WRAP: Sensex ends 74 pts lower; PSBs, metals decline, Maruti up 4%

Domestic stocks defied gains in the Asian peers to slip 182 and 69 points at the Sensex and Nifty50, respectively in the intra-day trade.

2:12 PM

Edelweiss Securities on Consumer Goods

The key for volume growth revival will be increase in spending by the central government as well as its government payouts to farmers under the PM-Kisan scheme, better monsoon along with good distribution. Roll out of GST’s invoice reconciliation mechanism will further spur demand for the organised sector, which will give filip to volume growth. For margin benefit, crude prices should remain soft, which will help not only paint companies, but also logistic cost of all companies under coverage.

 

Top picks

 

HUL (30%), Asian Paints (20%), Nestle (20%), Marico (15%) and Dabur (15%).

 

2:09 PM

Over 180 securities hit 52-week lows in trade

21STCENMGM	21st Century Management Services Limited	12.50	12.75	19-Aug-2019	12.50	12.75	-0.25	-1.96
ACCELYA	Accelya Solutions India Limited	737.45	741.05	05-Aug-2019	740.00	750.30	-10.30	-1.37
ACE	Action Construction Equipment Limited	58.60	61.15	19-Aug-2019	58.75	61.75	-3.00	-4.86
AKSHOPTFBR	Aksh Optifibre Limited	7.45	7.70	16-Aug-2019	7.60	7.95	-0.35	-4.40
ALMONDZ	Almondz Global Securities Limited	11.00	11.00

(Source: NSE)

Click to view full list

1:47 PM

MARKET CHECK | Top gainers on the BSE at this hour

HFCL	20.00	+1.15	+6.10
MFSL	435.00	+16.55	+3.96
HAVELLS	682.80	+19.05	+2.87
VENKYS	1,485.30	+133.25	+9.86
MARUTI	6,177.25	+202.30	+3.39

1:37 PM

Market check | Sensex turns positive

1:29 PM

YES Bank falls for second straight day, down 15% against QIP price

Shares of YES Bank were trading lower for the second straight day, down 7 per cent at Rs 71 on the BSE on Tuesday. The stock has fallen 10 per cent in the past two days, despite the company successfully raising Rs 1,930 crore through the qualified institutional placement (QIP) route last week. The stock was trading 15 per cent lower than its QIP price. The private sector lender's share price is less than 1 per cent away from its 52-week low level of Rs 70.50, touched on August 14, 2019 in intra-day deal. READ MORE

1:25 PM

Venky's rises over 10%

1:18 PM

Market check | Sensex sees sharp recovery

1:06 PM

Index Contributors at this hour

1:06 PM

Most active stocks by volume

COMPANY	PRICE(rs)	CHG(rs)	CHG(%)	VOLUME
VODAFONE IDEA	5.72	-0.27	-4.51	9013111
YES BANK	71.50	-5.20	-6.78	6924477
DEWAN HSG. FIN.	45.90	-3.15	-6.42	1621867
RELIANCE INFRA.	42.80	-1.40	-3.17	1433317
TATA MOTORS	122.00	1.25	1.04	1232267

12:57 PM

NEWS ALERT | SeQuent Scientific receives Establishment Inspection Report from US FDA: BSE Filing

-- EIR received for its GLP compliant, Analytical Laboratory at Bengaluru

12:51 PM

'Retail investors are now investing for a longer period through SIPs'

Has the selling by foreign portfolio investors been overdone?

 

Ideally speaking, the increase in taxation is a small marginal number. While this could have been a trigger to sell, there would have been a multitude of other factors that could have resulted in this, including global cues and the lack of much needed fiscal stimulus in the budget. That said, over the longer term, foreign investors’ exposure to the country has been steadily going up. If there is an improvement on the corporate earnings front, foreign investors could come back. READ MORE

Anand Shah

12:42 PM

Buzzing | NMDC slips over 9%

12:42 PM

Centrum Broking on Financials

We like ICICI Bank and SBI among large-cap banks. Commentaries on growth, margins and resolution of NPAs remain a key monitorable. We like Federal Bank and DCB Bank in the mid-cap banking space. We would watch for commentaries on asset growth for asset finance companies (AFCs), and customer acquisition and state exposure in case of micro lenders.

 

12:41 PM

Maruti Suzuki climbs 2%, top gainer in S&P BSE Sensex

12:26 PM

Edelweiss Securities on NTPC

After generating flat EPS growth over FY16–19, NTPC is likely to post a strong 15% CAGR over FY19–21E on the back of recoupment of under recoveries and 8GW of cumulative capacity commercialisation. Maintain ‘BUY/SO’ with a target price of Rs 158. The stock is trading at FY20/21E P/B of 1.0/1.0x.