Market Opens:
It is a flat to positive start for the truncated week on Monday with Nifty above 11,650 level.
At 09:16 hrs IST, the Sensex is up 70.98 points or 0.18% at 38838.09, and the Nifty up 22.10 points or 0.19% at 11665.60. About 533 shares have advanced, 207 shares declined, and 44 shares are unchanged.
TCS, Coal India, Tata Motors, Hero Moto, Wockhardt, Lakshmi Vilas Bank, DLF, ITC, GMR Infra, IOC are among major gainers, while losers are Infosys, Gail and ICICI Bank.
All the sectoral indices are trading in green led by metal, auto, infra, FMCG, and energy.
Rupee Opens :
The Indian rupee opened higher by 8 paise at 69.07 per dollar on Monday versus Friday's close 69.15.
Global Markets :
SGX Nifty :
Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 5.5 points or 0.05 percent. Nifty futures were trading around 11,686-level on the Singaporean Exchange.
US Markets :
US stocks climbed back to near record highs on Friday after the largest US bank, JPMorgan Chase & Co, soothed worries that the first-quarter earnings season would pour cold water on Wall Street's big rally back from last year's slump.
Asian Markets :
Asian shares started on a firm footing on Monday and the dollar eased as risk appetite was whetted by better-than-expected data from China that helped boost confidence about the health of the world economy.
Crude Update :
Oil prices edged lower on Monday after international benchmark Brent hit a fresh five-month high in the previous session, but concerns over global supplies kept prices well supported.
Domestic Markets :
Benchmark indices on a weekly basis closed in the red which suggests heavy selling is visible at higher levels.
For an index to surpass its previous record high, it has to hold above 11550-11500 levels
For the last 10 trading sessions, Nifty has been consolidating in the range of 11550 to 11,760. A break of this range would give the signal of fresh momentum in the market.
Markets will react to earnings of TCS and Infosys as well as macro data which were all released post market hours on Friday
India’s factory output growth dropped to a 20-month low in February in a worrying sign for the country’s growth prospects.
Data released by the statistics office on Friday showed factory output at 0.1 percent in February, against 1.4 percent in the previous month.
India's retail inflation stood at 2.86 percent in March, higher than previous month's 2.57 percent, on account of increase in prices of food articles and fuel, but it is still below RBI comforts level of 4 percent.
Halting its three-day winning run, the rupee Friday closed 25 paise lower at 69.17 to the US dollar as forex traders weighed rising crude oil prices.
On the institutional front, FIIs were net buyers in Indian markets for Rs 897 crore while DIIs were net sellers for Rs 15 crore, provisional data showed. On a weekly basis, FIIs poured in more than Rs 4000 crore in the last five trading sessions.
Big News :
Two big largecaps stocks from the IT space declared their results for the quarter ended March post market hours on Friday
Both TCS and Infosys reported better growth in dollar-denominated revenue for FY19 compared with the previous fiscal.
Infosys reported a 7.9 percent growth compared with 7.2 percent in FY18
TCS reported 9.6 percent growth in FY19 was the highest in four fiscals.
EBIT margin has taken a hit for both TCS and Infosys. EBIT margin shrank by 50 basis points sequentially to 25.1 percent for TCS while Infosys reported a 110-bps drop in the margin at 21.4 percent.
A strong order book of TCS took stock price higher on the Monday trading session against Infosys. Experts see a decline in Infosys stock price on Monday session because of poor guidance.
Technical View:
Nifty formed a small Bearish candle on the weekly scale for the 2nd week in a row
Weekly scale suggests that hurdles are also visible at lifetime high at 11761 zones
The index has been consolidating in the range of 11550 to 11760 zones from the last eleven trading sessions
It now requires a decisive hold of 11550 zones to retest its lifetime high of 11761 and then a fresh move towards 11888 zones, suggest experts
India VIX moved up sharply by 14.19 percent in the last week at 21 mark which is the highest zones in the last six months
Three levels: 11578, 11657, 11761
Max Call OI: 12000, 11800
Max Put OI: 11500, 11700
Stocks in news:
TCS and Infosys will be in focus after they reported their results for the quarter ended March post market hours on Friday.
Metropolis Healthcare's Rs 1,204 crore initial public offer (IPO) was subscribed 5.79 times on the third day of the issue on Friday. The price band has been fixed in the range of Rs 877-880 apiece.
Drug major Dr. Reddy's Laboratories Saturday said it has acquired a portfolio of 42 abbreviated new drug applications (ANDAs) in the US. The value of the total addressable market for these products in the US is around USD 645 million for the calendar year ending in December 2018.
Results on April 15: Hathway Cable & Datacom, Network18 Media & Investments, TV18 Broadcast, Reliance Industrial Infrastructure, Mac Hotels, TRF, Tata Metaliks, Sanghi Corporate, International Travel House, Gujarat Hotels, Dhruv Estates
Listing: Metropolis Healthcare
USFDA issues no observation for Wockhardt's bioequivalence centre at Aurangabad
TCS Q4: Profit rises 0.3 percent to Rs 8,126 crore versus Rs 8,105 crore and revenue grows 1.8 percent to Rs 38,010 crore versus Rs 37,338 crore QoQ. Revenue in constant currency terms increases 2.4 percent QoQ.
Infosys Q4: Profit jumps 12.9 percent to Rs 4,074 crore versus Rs 3,609 crore, revenue rises 0.6 percent to Rs 21,539 crore versus Rs 21,400 crore; EBIT margin falls 120 bps QoQ. Company sees constant currency revenue growth at 7.5-9.5 percent and EBIT margin at 21-23 percent in FY20.
Jet Airways: SBICAPS acquires 5.19% stake in company on April 11 via pledge encumbrance. Rajshree Pathy submitted her resignation as an Independent Director of the ompany, owing to time constraints on account of her other current commitments.
Cosmo Films launches CPP High Barrier film
Eris Lifesciences pre-paid the entire loan facility obtained from Axis Bank
Pricol: ICRA downgrades rating on long term - line of credit facilities of the company to BBB (Negative) from BBB+ (Stable).
ITI Limited: Company records a turnover of Rs 2,051 crore for FY19, up 20 percent compared to previous year.
Dixon Technologies has acquired 50% stake in Padget Electronics for Rs 27 cr
Sudarshan Chemical Industries: Board approved proposal to enter into a definitive agreement with GMM Pfaudler (GMMP) to divest industrial mixing solutions division (IMSD) of the company.
Quick Heal fixed April 26 as the record date for buyback
Mcleod Russel: Wholly owned subsidiary Borelli Tea Holdings approved Share Purchase Agreement for disposal of its stake in Pfunda Tea Company.
Dr Reddy's Labs: Company entered into a definitive agreement to acquire a portfolio of 42 approved, non-marketed Abbreviated New Drug Applications (ANDAs) in the US.
Persistent Systems: Sudhir Kulkarni, President - Sales, Technology Services Unit has resigned to pursue other interests.
Texmaco Rail board meeting on April 17 to consider raising of funds by way of a qualified institutions placement or a preferential issue or a rights issue
APL Apollo Tubes: Company to acquire Shankara's 2,00,000 MTPA tube manufacturing unit in Southern India for Rs 70 crore.
Arcotech: Company has been completed issue of non- convertible, non-cumulative redeemable preference shares.
Lakshmi Vilas Bank board approved allotment of 1.68 crore shares for the purpose of the proposed scheme of amalgamation between lndiabulls Housing Finance & bank
Trident Texofab: Company' newly setup manufacturing unit in Surat, Gujarat started its commercial production and operations and the said unit has been set up for manufacture of grey fabrics.
Adani Enterprises: Adani Transport, a wholly owned subsidiary, incorporated a subsidiary company namely Suryapet Khammam Road Private Limited.
HT Media: As per share purchase agreement, company will now acquire 69,05,383 equity shares of NRL on or before November 15, 2019.
Suven Life Sciences: Company receives court approval of 'Stalking Horse' Agreement to buy the assets of Rising Pharmaceuticals through its joint venture partner, Shore Suven Pharma Inc.
International Paper APPM: There would be annual outage (maintenance) from April 15, 2019 to April 22, 2019 (both days inclusive) in manufacturing facility located in Kadiyam, East Godavari District, Andhra Pradesh. The estimated loss of production would be around 200 MTs per day.
Out of F&O Ban: Adani Power, PC Jeweller
Analyst or Board Meet/Briefings
Sadhana Nitrochem: Board meeting to be held on April 17 to consider interim dividend.
Bajaj Finance: Company's officials will meet certain institutional investors, banks and analysts on debt side at a Non-Deal Road Show in Singapore, Hong Kong and Tokyo during April 15-18.
APL Apollo Tubes: Conference call with investors and analyst to be held on April 16 to discuss the acquisition of Shankara’s manufacturing unit.
Manappuram Finance: Company's officials will meet Creador and Sundaram Mutual Fund on April 16.
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