Share market latest news: Sensex above 40K, Nifty gained 272 pts and Bank Nifty up 663 pts

 

Share market latest news: It was a positive start for the Indian share market, the market extended its yesterday’s gain as discussed in our previous reports. Healthy buying was seen in the frontline stocks and also global market was supportive in the morning.

 

Share market latest news today

The market sentiment continued to remain upbeat after yesterday’s news of improved PMI numbers and now increased banks’ credit and deposits amounts. According to RBI’s latest data the bank’s credit and deposit grew by 7.2% and 9.51% to Rs 100.05 lakh crore and Rs 131.26 lakh crore respectively.

At close, Nifty gained 271.75 points and at 11979.65 while Sensex was up by 917.07 points and at 40789.38. Both the indices gained more than 2.3% today. The Bank Nifty also gained 663.45 or 2.21% and closed at 30686.70.

The Nifty midcap 100 index gained 201.75 points or 1.14% and closed at 17910.10. Whereas the Nifty smallcap 100 index was up 114 points or 1.89% and closed at 6154. 

The top five gainers in the Nifty 50 index today are Titan Company, IOC, Bajaj Finserve, Bharti Infratel, and Hindalco. The losers in the Nifty 50 index are Zee Entertainment, Bajaj Auto, Yes Bank, Eicher Motors and HUL.

In the Nifty midcap space, the gainers are HEG, Info Edge and the losers are Mannapuram Finance, HUDCO. Whereas in the smallcap space the gainers are Aegis Logistics, Godfrey Phillip and losers are Sobha Dev, Jet Airways.

On Sectoral front, All the major sectors are closed in green today expect Media. FIIs were the seller yesterday and DIIs were the buyers, for today’s position you can check the link after 6 pm here 

 

Share market latest stock news today

News on Q3 earnings

ShriramTransport Finance Corporation has reported a 38.4% jump in its Q3 numbers. The company’s consolidated net profit jumps to Rs 879.16 crore as compared to Rs 635.45 crore in the same quarter last year. The share price of Shriram Transport Finance Corporation has gained 6.23% and closed at Rs 1049.50 per share.

GlaxoSmithKline Pharma has reported a consolidated net loss of Rs 661.16 crore for the December end quarter, the loss is mainly on account of the impact of recall of their drug Zantac. The share price of GlaxoSmithKline Pharma has plunged 12.08% and closed at Rs 1447.55 per share.

Adani Green has reported a consolidated net loss of Rs 124 crore in Q3. This includes a one-time loss of Rs 74.1 crore. It had reported a loss of Rs 118 crore in the last year same period. Its revenue was up 10.8% at Rs 504 crore as against Rs 455 crore on YoY. The share price of Adani Green gained 0.94% and closed at Rs 198 per share

PNB has reported a net loss of Rs 492.3 crore against a profit of Rs 246.5 crore in the same period last year. Its NII was up by 1.5% at Rs 4355 crore as against Rs 4290 crore on YoY basis. Its provision spikes to 73%. The share price of PNB fell 0.96% and closed at Rs 56.80 per share.

Titan Company has reported its standalone net profit shoot up by 12.9% at Rs 470 crore as against Rs 416.2 crore and revenue got up by 9.4% at Rs 6206.2 crore as against Rs 5672.2 crore on YoY basis. The share price of Titan Company gained 7.54% and closed at Rs 1275.80 per share.

 

Other shares in the news today

Bajaj Auto has reported a 3% fall in its January total sales at 394,473 units as against 407150 units in the last year the same period. The share price of Bajaj Auto has declined 3.71% and closed at Rs3162.80 per share. 

L&T construction’s metallurgical & material handling strategic business group has got an order from Etihad Rail Company PJSC for design and Build of Freight Handling facilities at 7 strategic locations across United Arab Emirates. The share price of L&T has gained 0.40% and closed at Rs 1291.75 per share.

Reliance will start a new production from KG D6 project by mid-2020. The share price of Reliance Industries gained 2.95% and closed at Rs 1426.40 per share.

The share price of ITC has gained 3.88% after correction of almost 12% in the last two days due to the rise in excise duty on Tobacco and cigarettes.  Share price of ITC closed at Rs 215.65 per share today.

The Foreign Brokerage house CITI has maintained buy on Coal India with a target of Rs 270 per share. The share price of Coal India gained 2.16% and closed at Rs 182.50 per share.

The CITI has downgraded the Eicher Motors to neutral and cut the target price from Rs 25000 to Rs 21800 per share. The share price of Eicher Motors has declined 1.86% and closed at Rs 19512.65 per share.

GMR Infra has signed an agreement to operate Bidar Airport. The share price of GMR Infra has gained 2.33%  and closed at Rs 22 per share.

 

Crude and Rupee Updates:

Brent Crude oil future is trading higher after continuous fall for four consecutive days. It is currently (5 pm IST ) trading at $54.94 per barrel almost 0.94% higher than yesterday’s close. The Indian rupee has got an appreciation of 0.8% today and closed at Rs 71.27 against the US dollar.

 

Conclusions:

Indian Equity market bounced back after the Saturday’s fall and recovered almost all Budget day’s losses. The benchmark indices closed today near the day’s high and it is expected that the market may extend its rally for tomorrow.

Traders should trade with strict stop loss and can follow our daily share market latest news and Nifty and Bank Nifty technical views.

 

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Happy Investing!!

Editor’s Desk