Morning Update : 11 May 20
*Today's Market Sentiment* : Bullish, due starting of trains from 12 May 20
Today's Market at 7:21 am US Market Nasdaq = +141.66 Dow Jones = +455.43 European Ftse 100 = +82.22 Cac 40 = +48.20 Dax = +145.21 Asian Nikkei 225 = +307.28 Straits Times = +4.88 Hang Seng = +370.39 Taiwan weighted = +67.70 Kospi = +7.42 SGX Nifty = 9345(+89)
Good News :
1. Passenger train is going to start from 12 May through irctc!
2. Stimulus package is going to come!
3. Apple is going to open all his stores in America! 4. Countries are slowly opening Lockdown everywhere.
5. FIIs again start buying, as Value Buy!
Bad News:
1. Corona Infected person list reach above 41.8 lakhs 2. More than
2,83,852 person died in world due to corona.
3. In India, corona infected person list cross 67000.
4. 4353 new cases come yesterday, highest ever in 1 day in india.
5. After trains Start, corona patients will increase at very high rate,
*Govt knows we can't stop corona now*
My VIEW: Limited stocks will make nifty upside but overall companies result below expectations. Be positive till Nifty holds 9200, below 9200 negative sentiments again start
*Pivot Points: support and resistance level for Nifty*
According to pivot charts, the key support level for the Nifty is placed at 9,198.92 followed by 9,146.33. If the index starts moving up, key resistance levels to watch out for are 9,343.37 and 9,435.23.
*Nifty Bank* The important pivot level, which will act as crucial support for the index, is placed at 19,102.13 followed by 18,851.37. On the upside, key resistance levels are placed at 19,786.63 and 20,220.37.
*Results on May 11*
ADF Foods, Godrej Agro, Godrej Properties, Motilal Oswal, Piramal Enterprises, Saint Gobain, Sonata Software, Subex, Wockhardt.
*Stocks in the news*
ICICI Bank: Bank has reported a 26 percent year-on-year growth in standalone profit at Rs 1,221.36 crore in quarter ended March 2020 against profit of at Rs 969.06 crore. Net interest income of the bank rose 17.1 percent year-on-year to Rs 8,926.89 crore with 10 percent loan growth and 18 percent increase in deposits YoY.
Apollo Pipes: Promoter Sameer Gupta acquired 75,000 shares in the company at Rs 329.98 per share.
Sobha: Anamudi Real Estates LLP bought another 5,55,000 shares in the company at Rs 178.87 per share.
SeQuent Scientific: Carlyle Group entered into binding agreements to acquire a 74 percent stake in the company.
TCI Express Q4: Profit fell 12.5 percent to Rs 19 crore, revenue fell 10.5 percent to Rs 238 crore YoY.
VIP Industries: Rakesh Jhunjhunwala raised stake to 5.31 percent in Q4FY20, from 5.11 percent in Q3. MFs also upped stake to 10.4 percent versus 9.13 percent.
Swaraj Engines Q4: Profit fell to Rs 15.84 crore versus Rs 16.65 crore, revenue dropped to Rs 175.13 crore versus Rs 191.47 crore YoY.
Shree Cement Q4: Profit rose to Rs 535.93 cr versus Rs 340.05 cr, revenue fell to Rs 3,415.14 cr versus Rs 3,489.35 cr YoY.
VST Tillers Tractors: The company has resumed its manufacturing operation.
NOCIL: The company has partially resumed its manufacturing operations.
Dr Lal PathLabs: Westbridge Crossover Fund, LLC reduced stake in the company to 5.01 percent in Q4FY20, against 9.8 percent in Q3FY20.
Lupin: Pithampur facilities completed a successful UK MHRA inspection.
*FII and DII data:* Foreign institutional investors (FIIs) bought shares worth Rs 1,724.71 crore while and domestic institutional investors (DIIs) sold shares worth Rs 1,503.14 crore in the Indian equity market on May 8