Nifty ends Feb series below 10,800; Sensex falls 38 points; TCS slips 3%
28 February 2019
Market at close: Benchmark indices ended marginally lower on the F&O Expiry day with Nifty closing below 10,800 level.
The Sensex was down 37.99 points at 35867.44, while Nifty was down 8.90 points at 10797.80. About 1463 shares have advanced, 1005 shares declined, and 153 shares are unchanged.
Vedanta, Coal India, BPCL, GAIL and IOC were the top gainers on the Nifty, while losers include TCS, Eicher Motors, Maruti Suzuki, UltraTech Cement and Hero Motocorp.
Among sectors, IT and auto witnessed some selling pressure, while buying seen in the FMCG, PSU bank, metal, pharma, energy and infra.
Lupin receives USFDA approval: Company received approval for its Azacitidine for Injection, 100 mg Single-Dose Vial from the USFDA to market a generic version of Celgene Corporation’s Vidaza.
REC announces interim dividend: The board of directors of REC in its meeting held on February 28 approved declaration and payment of interim dividend at Rs 11 per equity share of Rs 10 each for the financial year 2018-19. The said interim dividend will be paid/dispatched on March 19, 2019.
Future Retail gains 4%: Company board at its meeting held on February 28 approved execution of master franchise agreement by its subsidiary SHME Food Brands with 7-Eleven, Inc to develop and operate 7-Eleven stores within India.
Axis Securities on Symphony: Axis Securities initiated coverage with a buy call on the stock, citing strong earnings growth ahead. The research house has set a price target at Rs 1,680 apiece, implying 36 percent potential upside from February 27 levels.
Market Update: Benchmark indices are trading flat ahead of February F&O expiry with Nifty holding above 10,800 level.
The Sensex is up 12.38 points at 35917.81, while Nifty is up 3.40 points at 10810.10. About 1296 shares have advanced, 892 shares declined, and 128 shares are unchanged.
Buzzing: Ramco System has climbed 6.5% on deal with Canadian logistics services provider.
Market Update: The indices have continued their positive momentum. Sensex is up 86.17 points or 0.24% at 35991.60, and the Nifty up 21.80 points or 0.20% at 10828.50. About 1273 shares have advanced, 714 shares declined, and 99 shares are unchanged.
Debabrata Bhattacharjee, Head of Research, CapitalAim says:
After Indian Air force attacked terror camps in POK, Pakistan’s retaliation made situation tensed. This led to a a volatile session in Indian markets on Wednesday. Going forward if this scenario continues for a few more days and converted into a war that will put immense pressure on benchmarks. The market will correct more from current levels.
Investors and traders could be cautious at this moment. They will put on hold their investments in Indian markets and keep an eye on every input related to Indo-Pak Situation. If a war or something like that happens for a longer period, the market will erase all the gains which were earned by companies from their performance in past months. The situation will get tougher for both countries. War always puts a dent on the economy in any country and keeps away Investors and trader from investing in it.
Nifty is in range of 10950 upside and 10560 downside. If it breaches 10950 then it can be bullish but if it breaks the level of 10560 in downside then it can go into a bearish trend.
Market Update: Benchmark indices are erased some of its morning gains with Nifty holding above 10,800 level.
At 10:04 hrs IST, the Sensex is up 85.09 points at 35990.52, while Nifty is up 17.50 points at 10824.20. About 1035 shares have advanced, 538 shares declined, and 80 shares are unchanged.
Wipro sells cloud business: Shares of Wipro slipped 1 percent in the early trade on Thursday after company sells its Workday and Cornerstone OnDemand Business to Alight.
Crude Update: Oil prices dipped on Thursday, dragged down by China's weakening economy and record U.S. crude output, although markets remained relatively well supported by supply cuts led by producer club OPEC.
Market Opens: It is a strong start for the indices on Thursday with Nifty trading around 10,850 level.
At 09:18 hrs IST, the Sensex is up 139.66 points at 36045.09, while Nifty is up 40.90 points at 10847.60. About 525 shares have advanced, 138 shares declined, and 33 shares are unchanged.
Tata Metaliks, Future Retail, Yes Bank, Tata Motors, Coal India, Adani Ports, Quick Heal, Motherson Sumi, Balrampur Chini, Maruti Suzuki are among major gainers on the indices, while losers are ONGC, Wipro, Indiabulls Housing, Jet Airways, Odisha Cement, TCS and HCL Tech.
All the sectoral indices are trading in green led by PSU bank, auto, energy and FMCG.
Market at pre-open: Benchmark indices are trading higher in the pre-opening session.
At 09:05 hrs IST, the Sensex is up 123.29 points or 0.34% at 36028.72, and the Nifty up 14.30 points or 0.13% at 10821.00.
Jet Airways fell 10 percent in the pre-opening session, while IGL, Tata Comm, DCB Bank, IndusInd Bank, Grasim , Page Industries and Zee Ent are some of the gainers.
Asian markets trade lower: Asian stocks slipped on Thursday after cautious comments from US Trade Representative Robert Lighthizer dented some of the recent optimism towards Sino-US trade relations, while the dollar held gains, supported by higher bond yields.
US markets end lower: The S&P 500 closed down slightly on Wednesday but well above its session low after testimonies to US Congress from trade and central bank officials as well as President Donald Trump's former lawyer brought few major surprises.
SGX Nifty: Trends on SGX Nifty indicate a flat start for the benchmark index in India, a gain of 16 points or 0.15 percent. Nifty futures were trading around 10,819.50-level on the Singaporean Exchange.