Nifty Trading Expert: Nifty Trend in Action, Oil Co shares down

Nifty keeps on staying in the red zone but has improved from day's bottom line amid gains in the Nifty Metal and IT index. Nifty Metal index rose 1.74% with Vedanta Ltd (up 4.14%), Jindal Stainless (Hisar) Ltd (up 3.25%), National Aluminium Company Limited (up 2.14%),among other constituents.

At 2:10 PM, the BSE Sensex was trading at 33,94851, up 68.26 points, while the NSE Nifty50 index was trading at 10,415.95, up 13.50 points.

Shares of Oil companies fell 8% on reports government to ask the firms to absorb Re 1 per litre increase and pass on the maximum possible advantage to the customers.

Shares of Hindustan Petroleum Corpn (HCPL) tanked 7.65% , Indian Oil Corpn Ltd (IOCL) down 6.78% , Bharat Petroleum Corpn  (BPCL) down 7.27%, Chennai Petroleum Corporation plummeted 5.09%, Mahanagar Gas dipped 3.40% and GAIL India dropped 1.73% to  on NSE today,  post lunch hours of  deals.

The Nifty PSU bank index traded lower by over 2.21% as stocks such as Indian Bank, Bank of Baroda, Oriental Bank of Commerce, Allahabad Bank, State Bank of India dragged the index lower.

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Sobha Ltd climbs over 9% on reporting strong yearly sales

Shares of Indian multinational Real estate developer Sobha Limited  surged over 9% in early trade on Friday after the company informed the exchanges that its  fourth quarter and year 2017-2018 reached out to be the best ever in  terms of value with growth across regions and product group. 

The scrip was trading 8.60 per cent up at Rs 551.80 at the mid noon hours (12:40 IST). Shares of Sobha Ltd opened at Rs 535.00 and touched a high of Rs. 564.00 during the day. Benchmark BSE Sensex was down 21.98 points, or 0.07 percent, at 33,574 and NSE Nifty too down at 15.10 points or 0.15% at 10,310.04, at the same time.

On the NSE, the stock opened at Rs. 550.00, and it surged further to Rs. 564.00 higher by 10.82 percent over its previous closing price.

Sobha Ltd registered new sales volume of 3.63 million SQ.ft, with the total value at Rs. 2861 crore, as per filing.

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Stock Buzz, Mid-noon hours of trade - Intraday Trading Tips

ICICI Bank shares fell 6.41% to Rs. 260.50 on NSE during the mid-noon hours, on Monday, after the bank announced its board expressed and reposed full faith in its M.D & CEO, Chanda Kochhar.

Nifty Auto Index was trading over 1.5 percent. Bosch (+3.47%), Tata Motors (+2.29%), TVS Motors Company Ltd, Maruti Suzuki India Limited (+1.62%), Bajaj Auto Limited (+1.75%).

Lupin Limited stock gains 3.62% at Rs. 762.50 after Canadian regulator clears Pithampur unit-II.

Stocks of Ashok Leyland Limited rose upto 1.07% at Rs. 147.00 as the company reported a 20 percent increase in total sales at 22,453 units for March as against 18,701 units in the equivalent month last year.

Bajaj Auto Stock advances 1.83% at Rs. 2,794.95  .after the company said that it has  sold 3,34,348 vehicles in March 2018 as against 2,72,197 vehicles in March 2017, registering a growth of 23 percent year-on-year.

Sandhar Technologies Limited’s scrip got listed at Rs 346.10 per share on the NSE, a 4 percent premium to the issue price of Rs 332.

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Yearly Watch out of Stock, Top Stock Advisory Company in India

Financial year 2018 has largely been a very good year for the share markets as the sensitive Index of BSE (Sensex) rose by 11.30% by 3,348 points to 32,968.68 during 2017-18. The index touched its all-time high of 36,443.98 on January 29, 2018.

On account of the surge in stocks, the total market capitalization (MCap) of BSE-listed companies jumped by Rs 20,70,472 crore to Rs 1,42,24,997 crore.

Investors' wealth rushed forward to Rs 20.70 lakh crore during the financial year 2017-2018 helped by strong broader market sentiment.  A stellar rally on number of successful Initial Public Offerings also helped the total investor wealth to rise.

The economic reforms such as implementation of Goods & Service Tax (GST), Regulation and development in real estate sector and the ongoing pick up in corporate earnings further aided the rally. Improvement in macro-economic performance including CPI inflation also stood positive for the markets.

However, the month February and March only turned out to be lethargic to a great extent, where Large Cap, MidCap and smallCap indices have fallen due to selling pressure from Long Term Capital Gains and increase in domestic and global bond yield.

Some specific stocks from the Nifty witnessed massive under performance, which include stocks of Lupin, Aurbindo Pharma, Sun Pharmaceuticals and Dr. Reddy’s Lab. Lupin pharma stock closed 57% lower than its price on April 1, 2017, whereas Aurobindo Pharma stock  was down 37% during the course of the financial year,  hit by squeeze in margins from the U.S business. Stocks of Sun Pharma also dropped 38% being another poor performer in 2017-18.

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Nifty Trading tips: Nifty Auto index up

Key equity indices were in the negative territory ahead of March Future and Option (F&O) expiry and ahead of the financial year ending. 

The Nifty Auto index was trading 0.24% up at 10,869, post lunch hours of trade, Wednesday, with shares of Maruti Suzuki India Limited, which was trading up 1.63%, being the top gainers. 

Shares of Hero MotoCorp (up 1.34%), Motherson Sumi Systems (up 0.65%), Bosch Limited (up 1.15%), Amara Raja Batteries Limited (up 1.15%) and MRF Limited (up 1.09 were also trading with gains. 

However, shares of Bajaj Auto were trading down 1.34% followed by Mahindra & Mahindra (down 1.00%), Bharat Forge (down 0.62%), Eicher Motors (down 0.54%), Tata Motors limited (down 0.51%), Tata Motors (DVR) (down 0.43%), Apollo Tyres (down 0.40%), Exide Industries (down 0.11%), and Ashok Leyland (down 0.07%) which were among the losers in the auto index. 

The NSE Nifty50 index was down 41.20 points at 10,142.95, while the BSE Sensex was 141.03 points at 33,033.36 at 2.25 pm, on Wednesday.

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BSE, NSE suspend trading in D S Kulkarni Developers

  

National Stock Exchange (NSE) will suspend trading in the shares of DS Kulkarni Developers Limited, effective from tomorrow, 20 March 2018, following a directive from the National Company Law Tribunal (NCLT) in a case with regard to alleged diversion of funds.

Bombay Stock Exchange (BSE) has already suspended trading in the shares of DS Kulkarni Developers Limited. The BSE in its circular stated on Monday, 19 March 2017, that it was suspending trading in the shares of DS Kulkarni Developers Limited, with immediate effect, for the same reason.

The National Company Law Tribunal, in an order dated March 13, had stated that by having cursory look into balance sheet & profit and loss account of the Company, the figures are shown soaring from year to year, but at the same time those figures are not in support with ground realities.

In a circular today, National Stock Exchange said it would suspend trading in the company's shares from March 21 pursuant to the National Company Law Tribunal order.

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IOC, BPCL look 26 pc stake each in GAIL; Shares fall

Indian Oil Corporation Ltd (IOCL) and Bharat Petroleum Corporation Limited (BPCL) may buy 26 percent stake each in gas utility GAIL (India) Limited, paying the govt over Rs.20,000 crore each to become integrated energy companies, as per a report by the PTI.

Reacting to the news, shares of IOC, BPCL and Gail (India) were witnessing considerable fall in the Exchange. As per the report, the IOC and BPCL may split the govt’s 54.89 percent stake in GAIL India, equally among themselves, making it their subsidiary.

Subsequent on FM Arun Jaitley’s February 2017 Budget announcement of creating integrated oil companies, IOC and BPCL had submitted separate proposals to buy the govt’s 54.89% stake in India’s biggest gas marketing and transportation firm, GAIL India.

At 1.00 pm, shares of Indian Oil Corp were trading lower by 3.65% at Rs 178.00, whereas BPCL was down 3.60% at Rs 431.45. At the same time, shares of GAIL (India) Limited were trading 0.11% lower at Rs 440.50 on the National Stock Exchange (NSE).

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