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Lingering US-China Trade Worries; Key Earnings Report and Top Stocks in Action Today
Fri, 25 May Pre-Open | Rini Mehta, TM Team

Indian share markets rose on Thursday, driven by IT stocks such as Infosys and Tata Consultancy Services on the back of a weak rupee.

The S&P BSE Sensex ended at 34,663, up 318 points while the broader Nifty50 index settled at 10,514, up 84 points.

The rupee has weakened by more than 7% so far this year, hitting its lowest since December 2016 at 68.46 per dollar on Wednesday, as surging crude oil prices weigh on India, raising fears that soaring costs could drive up inflation and widen the trade deficit.

Top Stocks in Focus

ONGC share price will hog limelight today on the news that the government may levy a windfall tax on oil producers.

Meanwhile, Indian Oil Corporation (IOC) has received an approval for formation of Joint Venture Company (JVC) between Indian Oil, GAIL (India), Oil & Natural Gas Corporation, Numaligarh Refinery and Oil India with 20% equity holding by each company for development of the Natural Gas Pipeline Grid in the North East connecting Guwahati to other major cities in the North East. The stock will be in focus.

V-Mart Retail share price will be in focus as company reported 148% jump in its Q4FY18 net profit at Rs 159 million versus Rs 64 million in same quarter last year.

Meanwhile, GAIL has registered nearly 300% jump in its Q4 net profit at Rs 10.21 billion against Rs 2.6 billion in the same quarter last fiscal.

Peninsula Land reported a net loss of Rs 2 billion for the quarter ended 31 March 2018 as compared to a net loss of Rs 1.2 billion for the same quarter in the previous year.

To get more updates on share market, click here.

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Results Corner

Bank of Baroda, Cadila Healthcare, Jindal Saw, IDBI Bank, PC Jeweller, Tech Mahindra, Sun Pharma are among few companies that will report its fourth quarter results today.

Global Stock Market Drivers

European stocks climbed and US futures were steady as a dose of calm returned to markets on Thursday, though concerns surrounding global trade were not far away. The yield on 10-year Treasuries edged back above 3%, while the euro and pound gained.

It's been a torrid week across markets so far, with market participants forced to navigate escalating geopolitical and trade risks, from Trump's decision to back away from an agreement with China to North Korea warning of a "nuclear-to-nuclear showdown".

Here's a look at some potential focal points for the day:

  • Today, European Union finance ministers will discuss the latest on Brexit talks, in Brussels.
  • Bank of England Markets Forum will be held today at Bloomberg London. Speakers include BOE Governor Mark Carney and New York Fed President William Dudley.

Bulk & Block Deals

Avenue Supermarts share price moved higher by 6% to Rs 1,437 on the BSE in noon deal trade on Thursday, after nearly 1% or 5 million equity shares of the company changed hands through multiple block deals.

The company informed the stock exchanges that promoter Radhakishan Shivkishan Damani would pare his stake to comply with the shareholding norms.

Our team of Equitymaster analysts have been working on a project to track the smartest minds in value investing. They have compiled a special report on them, called The Superinvestors of India.

Now, because of insights from these interactions, the team has glued their eyes on insider activity and bulk and block deals...

As per them...

IPO Buzz

Women's apparel maker TCNS Clothing Company has received market regulator's go-ahead to float an initial public offering. TCNS sells its products under W, Aurelia and Wishful brands.

Meanwhile, Shakun Polymers has filed draft papers with capital markets regulator. Shakun is a leading player in the field of compounds for the wire and cable market. It has two manufacturing facilities at Halol district in Gujarat and one at Daman, having a total installed capacity of over 25,000 metric tonnes per annum.

With this, the total number of companies receiving approval has reached 16 so far this year.

Speaking of IPOs, the demand for IPO's had reached sky-high levels last year.

One shall note that, more than 70% of the IPOs listed in 2007 and 2008 are in the red, even today when the Sensex is at an all-time high.

A merit-based selection primarily including valuation, business, and management quality is the logical way to go about investing in IPOs. If it means going against the herd, so be it. And going by recent past, this strategy has been proven to be successful more often than not.

To know more, download this FREE report now and discover How to Get Rich with IPOs. This guide will show you how to safely profit from the IPO rush.

From the Commodities Space

In commodities markets, US crude was down 0.3% at US$71.63 a barrel.

Oil prices fell on Wednesday after an unexpected rise in US crude and gasoline inventories. Brent futures were 0.4% lower at US$79.50 a barrel, continuing to move lower after rising above US$80 last week for the first time since November 2014 last week.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary

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Stock Market Updates

Indian Indices End on a Flat Note; Metal & Auto Stocks Outperform (Today's Market)

Feb 22, 2019 Closing

Indian share markets end the day on a flat note with the BSE Sensex down by 27 points, while the NSE Nifty closed up by 2 points.

Most Active Small-Cap Stocks Today; JUBILANT FOODWORKS the Most Traded (Today's Market)

Feb 22, 2019 03:55 PM

Here's a list of most active small-cap stocks today. It also includes information on BSE Smallcap index and the broader benchmark indices.

Top 5 Mid-Cap Gainers Today; SHRIRAM CITY UNION Leads the Pack (Today's Market)

Feb 22, 2019 03:55 PM

Here's a list of 5 stocks that gained the most in the BSE Mid-Cap Index today. It also includes information on BSE Mid-Cap index and the broader benchmark indices.

AIA ENGINEERING Surges by 5%; BSE CAPITAL GOODS Index Up 0.3% (Today's Market)

Feb 22, 2019 03:32 PM

AIA ENGINEERING share price has surged by 5% and its current market price is Rs 1,730. The BSE CAPITAL GOODS is up by 0.3%. The top gainers in the BSE CAPITAL GOODS Index are AIA ENGINEERING (up 5.3%) and SUZLON ENERGY (up 34.8%). The top losers are LAKSHMI MACHINE and ABB INDIA LTD. (down 0.1%).

FDC LTD. Surges by 5%; BSE HEALTHCARE Index Up 0.6% (Today's Market)

Feb 22, 2019 03:28 PM

FDC LTD. share price has surged by 5% and its current market price is Rs 157. The BSE HEALTHCARE is up by 0.6%. The top gainers in the BSE HEALTHCARE Index are FDC LTD. (up 5.0%) and BLISS GVS PHARMA (up 5.2%). The top losers are TORRENT PHARMA and FORTIS HEALTHCARE (down 0.2%).

HOUSING DEV. INFRA Surges by 6%; BSE REALTY Index Up 1.3% (Today's Market)

Feb 22, 2019 03:18 PM

HOUSING DEV. INFRA share price has surged by 6% and its current market price is Rs 24. The BSE REALTY is up by 1.3%. The top gainers in the BSE REALTY Index is HOUSING DEV. INFRA (up 5.8%). The top losers is SOBHA LIMITED (down 0.3%).

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