The benchmark indices settled flat on Friday amid a rise in automobile and metal stocks.
The S&P BSE Sensex ended at 35,871, down 27 points, while the broader Nifty50 index settled at 10,792, up 2 points.
Among sectoral indices, Nifty Auto index rose 1.5 per cent driven by gains in Motherson Sumi Systems and Tata Motors. The Nifty Metal index, too, rose 1.65 per cent led by Jindal Stainless (Hisar) and Welspun Corp.
In the broader market, the S&P BSE MidCap index gained 54 points, or 0.38 per cent to 14,170, while S&P BSE SmallCap index settled at 13,518, up 104 points, or 0.77 per cent.
Shares of Reliance Nippon Life Asset Management surged 20 per cent to Rs 224 in intra-day trade, rallying 44 per cent in past two trading sessions on the BSE, after Reliance Capital decided to put its stake in the company up for grabs. The stock settled at Rs 199, up 6.3 per cent on Friday.
Suzlon Energy jumped 31 per cent to end at Rs 5.80 on the BSE. In intra-day deals, the stock had touched a high of Rs 6.15, rallying 68.5 per cent in the past two trading sessions from a level of Rs 3.65 on Wednesday,
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Benchmark indices ended marginally lower on Friday led by a decline in HDFC, HDFC Bank, Sun Pharma and Axis Bank.
The S&P BSE Sensex ended at 35,809, down 67 points or 0.19 per cent, while the broader Nifty50 index settled at 10,724, down 22 points or 0.20 per cent.
Among the sectorial indices, the Nifty Pharma index ended 3.1 per cent lower led a fall in Glenmark and Lupin. The Nifty Metal index settled 2.07 per cent lower weighed by JSW Steel and Welspun Corp.
In the broader market, the S&P BSE MidCap index ended 167 points, or 1.18 per cent lower at 13,941, while S&P BSE SmallCap index fell 111 points, or 0.83 per cent to settle at 13,253.
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Benchmark indices ended over 1 per cent lower on Friday, weighed by a sharp sell-off in the automobile and metal stocks.
The S&P BSE Sensex ended at 36,546, down 425 points or 1.15 per cent, while the broader Nifty50 index settled at 10,944, down 126 points or 1.14 per cent.
Among sectoral indices, the Nifty Auto index, the top loser of the day, settled 3.6 per cent lower as Tata Motors, MRF and Mahindra & Mahindra (M&M) lost considerable ground. Nifty Metal index ended 3.4 per cent lower with SAIL and Vedanta among the top losers.
In the broader market, the S&P BSE MidCap index ended 203 points or 1.40 per cent lower at 14,328, while S&P BSE SmallCap index settled at 13,656, down 122 points or 0.89 per cent.
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The benchmark indices settled over 0.5 per cent higher on Friday after Finance Minister Piyush Goyal announced a string of populist measures in his Interim Budget 2019 speech in the Parliament.
The S&P BSE Sensex ended at 36,469, up 213 points or 0.59 per cent, while the broader Nifty50 index settled at 10,894, up 63 points or 0.58 per cent.
In the broader market, the S&P BSE MidCap index ended at 14,641, up 81 points or 0.56 per cent, while the S&P BSE SmallCap settled at 13,950, up 24 points or 0.17 per cent.
Among sectors, the Nifty Auto index was the top gainer of the day, rising 2.71 per cent led by Hero MotoCorp and Maruti Suzuki. The Nifty IT index too rose 1.45 per cent led by HCL Technologies and Tech Mahindra.
In a major relief to the middle-class taxpayer, Finance Minister Piyush Goyal, in his Interim Budget 2019 speech announced that those earning up to Rs 5 lakh a year would not have to pay any tax. He also said that those with an annual income of up to Rs 6.5 lakh would not have to file income-tax returns.
Goyal also announced PM Kisan Samadhan Nidhi scheme in which, farmers owning up to 2 hectares of land will get Rs 6,000 per annum, which will be completely funded by the central government. This scheme is likely to benefit 12 crore small and marginal farmers, at an estimated cost of Rs. 75,000 crore, he said. Apart from this, he also said that the government has set aside Rs 60,000 crore for MGNREGA this year, and allocated Rs 19,000 crore for Pradhan Mantri Gram Sadak Yojana.
The finance minister also said that the country’s defence budget for FY20 has been increased to Rs 3 lakh crore.
The government allocated Rs 64,587 crore for railways in FY20, Goyal said adding that the railway operating ratio was seen 96.2 per cent in FY19 vs 95 per cent in FY20.
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The frontline indices have pared their day’s gains and are trading on a flat note driven by a sharp selloff in the media stocks.
Among sectors, the Nifty Media index slipped around 10 per cent in the afternoon trade led by a sharp selloff in shares of Zee Entertainment Enterprises (ZEEL) and Dish TV.
In the broader market, S&P BSE MidCap index was trading 0.79 per cent or 118 points lower at 14,742, while S&P BSE SmallCap index was ruling at 14,113, down 112 points or 0.79 per cent.
Maruti Suzuki slipped nearly 9 per cent to Rs 6,420 in afternoon trade after the country’s largest passenger car maker reported a 17.26 per cent fall in its net profit at Rs 1,489.3 crore for the third quarter of FY19. The carmaker had reported PAT of Rs 1,800 crore in the year-ago quarter. On QoQ basis, the figures fell 33.5 per cent. Total revenue from operations stood at Rs 19,668.3 crore against Rs 19,283.2 crore in the year-ago period. Basic EPS (earnings per share) came in at Rs 49.30 against Rs 59.56 in the corresponding quarter previous fiscal.
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Continuing with their lacklustre performance for the third straight day, the equity benchmark indices settled on a flat note on Friday. While the day witnessed solid buying in bluechips such as Reliance Industries (RIL), HCL Tech, HDFC Bank and TCS, the gains in the index were capped by drubbing in counters including Sun Pharma, Bharti Airtel and L&T.
The S&P BSE Sensex ended just 13 points higher at 36,387, while NSE’s Nifty50 index held the crucial 10,900 level to close at 10,907, up 2 points. On a weekly basis, both the indices ended 1 per cent higher.
Sectorally, barring IT, all other indices ended in the red with the pharma stocks bleeding the most. The Nifty Pharma pack lost nearly 3 per cent to end the day at 8,690.
Shares of pharma bellwether Sun Pharma crashed to their six year- low of Rs 375.40 apiece in the early trade on Friday after news reports suggested fresh whistleblower documents were sent to Sebi. The stock plunged as much as 12 per cent on BSE. The company, however, in a BSE filing clarified that it was not privy to the news reported by MoneyLife. The stock, eventually, ended nearly 9 per cent lower at Rs 390.75.
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Source: https://stockarchitect.com/sector/Transport-Related-Services
The benchmark indices settled marginally lower on Friday weighed by IT bellwether Tata Consultancy Services (TCS) and select banking and automobile stocks.
The S&P BSE Sensex ended at 36,010, down 97 points or 0.27 per cent, while the broader Nifty50 index ended at 10,795, down 27 points or 0.25 per cent. On a weekly basis, the S&P BSE Sensex rose 0.88 per cent, while Nifty50 rose 0.63 per cent.
In the broader market, the S&P BSE MidCap index ended at 15,177, down 19 points or 0.13 per cent, while S&P BSE SmallCap index slipped 28 points or 0.19 per cent to 14,600.
Shares of Eveready Industries India (EIIL) jumped 13 per cent to settle at Rs 205 per share on the BSE on reports that promoter BM Khaitan is likely to sell the flagship company, a leader in dry cell batteries and flashlights.
IT bellwether Infosys gained 0.58 per cent to settle at Rs 684 on the BSE ahead of the board meeting today to consider the financial results for the third quarter of the financial year 2018-19 (FY19). Its peer Tata Consultancy Services (TCS) declined 2.45 per cent to Rs 1,842 even as it earned its highest-ever net profit of Rs 8,105 crore in the seasonally weak third quarter (Q3) of 2018-19 (FY19).
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The domestic equity indices snapped out of a two-session losing streak to settle 0.5 per cent higher on Friday led by a rise in public sector banks and metal stocks.
The S&P BSE Sensex ended at 35,695, up 181 points or 0.51 per cent, while the broader Nifty50 index settled at 10,727, up 55 points or 0.52 per cent. On a weekly basis, the S&P BSE Sensex fell 1.05 per cent, while the Nifty 50 declined 1.22 per cent.
In the broader market, the S&P BSE MidCap index rose 0.48 per cent or 72 points to end the day at 15,148, while the S&P BSE SmallCap settled at 14,592, up 0.14 per cent or 20 points on Friday.
Among sectors, the Nifty PSU Bank rose the most on Friday, gaining 2.32 per cent led by Syndicate Bank, Punjab National Bank (PNB) and State Bank of India (SBI). Nifty Metal too, rose 1.40 per cent led by Jindal Steel & Power, Vedanta and Tata Steel.
The rupee traded on a firm note having risen to 69.75 against the US dollar in intra-day trade. The domestic unit had settled at 70.17 against the greenback on Thursday.
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Successful trading is 90% waiting and 10% execution and that’s the exact reason why trading is so challenging. When people think about trading, they imagine a well-dressed Wall Street guy who angrily shouts at his monitors while being on the phone with London, Hong Kong and Tokyo simultaneously to place the next big killer trade which will make him a lot of money. Dead wrong!
In this article, I will show you my approach to trading and explain how you must trade calmly and in a relaxed state of mind if you want to be successful in this business.
I call myself a reversal or early trend trader which means that I look for established and mature trends that show signs of exhaustion. The general trading literature suggests that new traders start with the trend following approach but from my experience I have seen that the reversal approach does make more sense to most traders.
Reversal trading has a bad reputation because people believe that it’s all about trying to predict the next market turn before it happens which couldn’t be further from the truth. Reversal trading is often nothing but early trend following trading as we will see.
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