Sectoral Watch – Most Discussed IT Consulting & Software Stocks
Source: https://stockarchitect.com/sector/IT-Consulting-And-Software
Sensex tanks 190 points, Nifty below 12K ahead of Budget
Investors were up for a volatile trading session on Friday as expectations from the Union Budget 2020-21, and December quarter earnings kept investors jittery. That apart, concerns over the outbreak of Coronavirus, too, weighed on investor sentiment.
Markets closed at their lowest level in 2020 ahead of the Budget presentation tomorrow. The benchmark S&P BSE Sensex ended the day near day’s low, at 40,723 level, down 190 points or 0.47 per cent, while the Nifty50 breached below the crucial 12,000-mark and settled at 11,962 level, down 74 points or 0.61 per cent.
During the day, the Sensex and Nifty fell 483 and 158 points, respectively from the day’s high.
In the broader markets, the S&P BSE mid-cap index closed at 15,463.46 level, down 0.6 per cent, while the S&P BSE small-cap index was at 14,671.53, down 0.22 per cent.
Most domestic and foreign brokerages are looking forward to credible steps to prop-up growth and provide some relief to the individual income-tax payers when the government tables the Union Budget on Feb 1.
In the Economy Survey tabled today in the Parliament, the government said it expects a pick-up in economic activity in the second half of the fiscal on the back of improved foreign direct investment flows, a build-up of demand pressure, positive outlook for rural consumption, and rebound of industrial activity.
Sensex down 87 points, Nifty holds 11,550; banks dip, metals gain
Domestic indices ended Friday’s choppy session in the negative territory. The markets remained range-bound, in the positive territory, for most part of the day but were dragged lower by index heavyweights like HDFC Bank, Axis Bank, Larsen & Toubro, and Bajaj Finance.
The benchmark S&P BSE Sensex closed at 38,736 levels, down 87 points or 0.22 per cent. Among the gainers, YES Bank, Tata Steel, Sun Pharma and Vedanta topped the charts while ONGC, Bajaj Finance, ONGC and L&T were at the lower end of the spectrum.
The broader Nifty50 too settled with cuts. The 50-share index settled at 11,552 levels, down 30 points, or 0.26 per cent.
In the broader market, the BSE MidCap index ended 59 points, or 0.41 per cent, higher at 14,554 levels while the BSE SmallCap index closed 22 points, or 0.16 per cent, higher at 13,776 levels.
Sectorally, banking, financial services and FMCG counters were under pressure. The Nifty Bank index closed 0.37 per cent lower followed by Nifty Financial Services index, down 0.29 per cent. Among gainers, Nifty metals, pharma and realty counters were up between 0.4-0.7 per cent.
Sensex, Nifty end flat on a choppy day; IT stocks drag
Benchmark indices ended Friday’s session with marginal cuts after erasing its intraday gains in the final hour. IT stocks remained subdued throughout the day after the US-based IT services company Cognizant nearly halved its 2019 growth guidance.
The intra-day rise in the indices was spurred by a slip in oil prices with financial stocks gaining the most, before the indices retreated to trade flat in the end.
S&P BSE Sensex settled 18 points lower for the day at 38,963, with TCS, Hindustan Unilever, TATA Steel, HCL Tech and Infosys being the top drags. Twelve out of the 30 constituents of the BSE ended the day in red.
The broader Nifty50 was also down 12.5 points, or 0.11 per cent, to end at 11,712 levels. The market breadth was tilted in favour of declines. About 1,031 stocks fell and 702 shares advanced on National Stock Exchange.
Among sectoral indices, the Nifty IT index was the biggest loser, down almost 1.9 per cent while the Nifty FMCG index also slipped 1.13 per cent. On the other hand, Nifty Realty index and Nifty PSU Bank index gained 1.57 per cent and 1.09 per cent, respectively.
On a weekly basis, the S&P BSE Sensex closed 0.27 per cent lower while and the NSE Nifty50 slipped 0.36 per cent. This was the indices’ biggest weekly loss since February 11.
The volatility index, VIX, ended the day 4.35 percent higher at 23.98.
The broader market took the cue from benchmark indices to end flat. The S&P BSE MidCap index slipped 15 points, or 0.10 per cent, at 14,783, while the S&P BSE SmallCap index ended the day at 14,548, down 45 points, or 0.31 per cent.
Sensex rises 386 pts as rupee recovers; Tata Steel, RIL up 3%
The benchmark indices settled over 1% higher on Friday after the rupee recovered from its all-time low and Asian peers staged a pullback.
The S&P BSE Sensex ended at 35,423, up 386 points while the broader Nifty50 index settled at 10,714, up 125 points.
Among sectoral indices, the Nifty Metal index settled 2.8% higher led by a surge in the shares of Jindal Steel & Power, NMDC and Hindalco Industries. The Nifty PSU Bank index also rose 1.35% led by IDBI Bank, Oriental Bank of Commerce and Syndicate Bank.
On the BSE, the S&P BSE Midcap index rose 1.8% higher on Friday and the S&P BSE Smallcap index ended 1.9% up.
Among individual stocks, Tata Steel was the biggest gainer on S&P BSE Sensex, gaining 3.6% to settle at Rs 567.85. The market heavyweight Reliance Industries also rose 3% to end at Rs 972.95 on Friday.
The rupee, which breached the 69 per dollar mark for the first time on Thursday, recovered tracking a rebound in Asian shares and currencies. The Indian currency had on Thursday breached the 69-mark but covered lost ground to finally close at an all-time low of 68.79 with a fall of 18 paise against the US dollar due to multiple headwinds like weak global cues and concerns related to inflation and fiscal slippage.
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Nifty gains 1%, ends above 10,600 on Friday; auto, metal stocks gain
Benchmark indices rose on Friday after rupee recovered from its a 16-month low against the dollar.
The S&P BSE Sensex ended at 34,925, up 262 points, while the broader Nifty50 index settled at 10,605, up 91 points
Among sectoral indices, the Nifty Metal index gained over 2% led by a rise in Hindalco, SAIL, JSPL and Tata Steel. The Nifty Auto index also rose over 1% led by Exide Industries and Tata Motors.
In individual stocks, Tata Consultancy Services (TCS), the country’s biggest software services exporter, became the first Indian company. which saw its market capitalisation (market-cap) cross Rs 7-trillion mark.
Multi Commodity Exchange of India (MCX) rallied 8% on the BSE after reports suggested that the company has entered into merger talks with the National Stock Exchange (NSE) ahead of the implementation of the universal exchange framework in October.
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Indices end flat on Friday, Nifty holds 10,550; TCS gains 7%
Benchmark indices were flat on Friday even as minutes of the central bank’s policy panel meeting stoked expectations of an interest rate hike, with losses in financials and metals overshadowing gains in information technology stocks.
The S&P BSE Sensex ended at 34,416, down 12 points while the broader Nifty50 index settled at 10,564, down 1 points.
The rupee dropped to its lowest in more than a year following a hawkish tone in the minutes, released on Thursday, of the Reserve Bank of India’s monetary policy committee (MPC) meeting that took place earlier this month.
Among sectoral indices, the Nifty PSU Bank index slipped nearly 2.5% led by a fall in shares of Bank of India and IDBI Bank.
Investors cheered the results of Tata Consultancy Services, sending its shares to an all-time high of Rs 3,421 after the country’s top software services exporter posted its biggest-ever profit on Thursday.
Prakash Constrowell share price rallied 10% after the company has been declared L-1 bidder by the MCGM (Municipal Corporation of Greater Mumbai) for the new project Dumpsite Reclamation at Mulund Dumping Ground (MDG) in Mumbai by adopting suitable technology for existing garbage dump.
J B Chemicals & Pharmaceuticals fell 2.33% to Rs 312.65 on BSE after the company said it received an order from Pollution Control Committee, Daman for closure of its formulation manufacturing facility at Daman.
They were once seen as among India’s most promising growth stories. Now, however, the fate of ABG Shipyard, Alok Industries and Lanco Infratech is seen as near-certain but in the opposite direction. With huge debt, few takers for their assets and the whopping write-offs (‘haircuts’) that banks are likely to take on the loans given to these companies, industry experts believe liquidation of the trio are among the few options. All three have defaulted on their huge payment obligations.
Markets settle lower on profit-booking on Friday, but gains most in six weeks
The benchmark indices on Friday settled lower as investors booked profits in index heavyweights such as ITC and HDFC ahead of a long weekend, but posted their biggest weekly gain in six weeks.
The S&P BSE Sensex ended at 29,918 down 111 points, while the broader Nifty50 closed at 9,304, down 38 points.
In the broader market, the S&P BSE Midcap and S&P BSE Smallcap indices outperformed to gain 0.2% and 0.6%, respectively.
The market breadth, indicating the overall health of the market, turned negative from positive. On BSE, 1,479 shares fell and 1,386 shares rose. A total of 136 shares were unchanged.
Nifty Realty index (down 1.7%) was the leading sectoral loser, led by losses in Prestige (down 4%) and Delta Corp (down 4%) and Indiabulls Real Estate (down 3%).
The Nifty Bank pared entire intraday losses to settle 0.1% higher.
Sensex pares losses to end flat on Friday, Nifty below 8,900
The market on Friday extended fall for the second straight session as investors booked profits after a sharp rally that lifted the benchmark indices to near two-year highs in the previous session.
The negative trade in Asian markets, which slipped on expectations of a US interest rate hike in March, also weighed on sentiment.
The S&P BSE Sensex settled the day at 28,832, down 7 points, while the broader Nifty50 ended at 8,897, down 2 points.
The broader market outperformed the frontline indices. BSE Midcap gained 0.3%, while BSE Smallcap added 0.4%
The market breadth, indicating the overall health of the market, was negative. On BSE, 1,450 shares fell and 1,372 shares rose. A total of 171 shares were unchanged.
Nifty ends near 8,600; RIL up 2%, Infosys dips post Q2 earnings
Benchmark indices ended marginally higher, amid a volatile trading session, after gains in oil & gas shares helped offset losses in Infosys and Hindustan Unilever.
Infosys slipped over 2% at Rs 1,026, after hitting 52-week low of Rs 996 in an intra-day trade on the BSE. Infosys reported a better than expected 4.9% growth in consolidated net profit at Rs 3,606 crore for the second quarter ended September 30, 2016 (Q2FY17) over the preceding quarter. Rupee revenue grew 3.1% to Rs 17,310 crore and dollar revenue was up 3.5% at USD 2,587 million on sequentially.
The benchmark S&P Sensex closed at 27,673 levels, up 30 points or 0.1%. Nifty50 index gained 10 points, or 0.1%, to close at 8,583 levels. The broader markets outperformed the benchmark indices. The S&P BSE Midcap and Smallcap rose 0.8% each.
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