MARKET WRAP: Sensex up 155 pts, Nifty ends at 10,772 led by IT, realty stks

Among the sectoral indices, the Nifty IT rose 1.1 per cent led by MindTree, Infosys and Tata Consultancy Services (TCS). The Nifty Realty, too, rose 1.2 per cent led by Godrej Properties and Sobha.

11:55 AM

Nifty Realty index is trading over 2% higher

11:43 AM

Analysts expect strong FY20 earnings growth for health care, financials

Market participants expect fundamentals to come into focus after election-related noise dies down. Some of the sectors where analysts expect to see strong earnings growth include health care, telecom & media, consumer discretionary and financials. Analysts expect the health care sector to see earnings growth of 31 per cent in FY20 as they hope some of the US-pricing issues could ease. Telecom & media is expected to witness a dip in FY19, before seeing a strong recovery in FY20. The earnings growth for the sector in FY20 could come in at 30 per cent. Read more

11:32 AM

ICICI Bank nears record high; stock gains on hopes of healthy Q3 earnings

Shares of ICICI Bank were up 1.5 per cent at Rs 371 apiece on the BSE on Monday, trading close to their all-time high, on hopes of strong earnings in October-December (Q3FY19) quarter. The stock of the private sector lender had hit a record high of Rs 375 on November 16, 2018, in intra-day trade.

The board of directors of the bank is scheduled to meet on January 30, 2019, to consider the approval of audited financial results for the quarter and nine months ended December 31, 2018. Read more

11:24 AM

Top gainers and losers on S&P BSE Sensex

11:14 AM

Reliance Securities on CEAT

 

Rating: Buy 

Target Price: Rs 1,750

 

CEAT closed 1.6% higher as against Nifty rising by 0.5% yesterday. We foresee CEAT’s operating performance to improve further in ensuing quarters with the likely improvement in volume and product-mix on the back of higher replacement demand. Company’s new products has received good response and would help gaining market share to the company. Its improving brand image and network expansion would help on volumes front. Though there would be near term pressure on business performance, gradual ramp-up in Ambernath plant’s utilisation is expected to aid CEAT’s profitability in ensuing quarters. Moreover, falling RM cost would expand margins from the current level. In view of likely pick up in company’s business with new capacity and strong management capability to capitalise from replacement demand, we maintain our positive view on the stock. Stock’s current valuation of ~13xFY20E appears attractive and we recommend BUY on CEAT with a Target Price of Rs1750, valuing the stock at 17.5x FY20E EPS.

11:06 AM

Nifty Pharma index is trading lower weighed by Glenmark

11:00 AM

Interview of the day Market volatility to remain high in 2019: Reliance MF's Manish Gunwani

Fed actions and the trade negotiations between the US and China are key factors that could impact market movement this year, says Manish Gunwani, CIO–equity investments, Reliance Mutual Fund. In an interview with Ashley Coutinho, he says the shift to financial assets from physical assets is structural in nature, and should lead to increased inflows into mutual funds. Click here to read

Manish Gunwani, CIO–equity investments, Reliance Mutual Fund

10:46 AM

Bharat Forge hits 23-month low; stock falls 32% in four months

Shares of Bharat Forge (BFL) hit a 23-month low of Rs 470 per share, down 4 per cent on the BSE in early morning trade in an otherwise firm market after the domestic automobile companies reported disappointing sales numbers during the month of December 2018 on account of adverse macroeconomic conditions.
 

The stock of auto ancillary firm was trading at its lowest level since February 1, 2017. In the past four months, it has underperformed the market by falling 32 per cent, as compared to a 6 per cent decline in the S&P BSE Sensex. READ MORE

10:33 AM

High discounts, commodity prices may hurt Maruti profits for Oct-Dec

Maruti Suzuki, the country’s leading carmaker, is expected to report a second consecutive dip in quarterly profit for the October-December period of FY19 as margins remained under pressure owing to higher discounts and impact of firm commodity prices.

 

The company, analysts anticipate, could report a decline of about 5 per cent in profit for the third quarter. It is likely to announce the Q3 results in the last week of the month. Read more

 

10:20 AM

Top gainers on BSE500

COMPANY	PRICE()	CHG()	CHG(%)	VOLUME
NARAYANA HRUDAYA	196.00	8.05	4.28	136
WELSPUN CORP	138.45	4.70	3.51	10727
INDBULL.REALEST.	89.80	2.90	3.34	162556
INDUSIND BANK	1599.50	51.55	3.33	106558
IDFC BANK	46.65	1.50	3.32	681367

10:08 AM

Market check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	36,009.62	+314.52	+0.88
S&P BSE SENSEX 50	11,310.75	+91.58	+0.82
S&P BSE SENSEX Next 50	32,765.81	+195.10	+0.60
S&P BSE 100	11,102.19	+86.45	+0.78
S&P BSE Bharat 22 Index	3,478.45	+27.81	+0.81

10:05 AM

NEWS ALERT Rupee extends gains, rises to 69.2375 against the US dollar so far in intra-day deals; trades at 6-month high against the greenback

9:57 AM

Titan Company gains 4% on Q3 business update

Shares of Titan Company were up 4 per cent to Rs 964 a piece on BSE in the early morning trade after the company said it saw good growth momentum across all its businesses in the seasonally strong third quarter. For the jewelry division, strong same-store sales growth (SSSG) continues to occur, expects growth for full-year to be around 22 per cent as the customer demand remained buoyant in the festive season. The stock of Tata Group Company was trading close to its all-time high price of Rs 1,006 touched on April 18, 2018, in the intra-day trade. READ MORE

9:42 AM

Kirloskar Electric Company surges over 10% after it announced that it will sell 1.065 acre of land situated at Bangalore to Brigade Enterprises for Rs 55 crore

9:32 AM

NEWS ALERT | HDFC Bank hikes MCLR on some tenors by 5 bps effective today