Morning Notes
10th May, 2019

Trading Range:

Nifty opened gap down at 11322 on Thursday and made a high and low of 11357 and 11255 respectively before closing negative at 11302.


For the day, support for Nifty exists at 11250 and 11190 levels whereas resistance for Nifty stands at 11360 and 11420 levels.


Bank Nifty opened gap down at 28894, made a high of 29040, low of 28785, and closed negative at 28885. For the day, support for Bank Nifty exists at 28700 and 28500 levels whereas resistance for Bank Nifty stands at 29100 and 29300 levels.

Market Scan
Benchmark Indices
Index Clsg Chg%
Sensex 37,559 -0.61
Nifty 11,302 -0.51
BSE 200 4,729 -0.44
BSE Midcap 14,355 -0.19
BSE Smallcap 14,076 -0.38
Dow Jones 25,828 -0.54
NASDAQ 7,911 -0.41


NIFTY 11301.80 (-57.65) (-0.51%)
NIFTY MAY FUTURE 11334.80 (33 Points Premium)
NIFTY PCR - OI 1.38(+0.34)
NIFTY OPEN INTEREST 1.92Cr. (-5.99%)
INDIA VIX 25.48(-3.34%)


CALL 11300 CE +0.75 lac Shares
CALL 11400 CE +1.59 lac Shares
PUT 11500 PE -2.33 lac Shares
PUT 11400 PE -0.78  lac Shares
Sectoral Indices (BSE)
Index Clsg Chg%
Auto 18,259 +0.07
Bankex 32,247 -0.30
PSU 7,197 -0.53
Healthcare 13,818 -0.28
IT 15,679 +0.43
Market Turn Over (`cr)
Index 09/05 08/05
BSE Cash 1,991 2,033
NSE Cash 30,108 31,602
NSE F&O 2,148,919 1,324,483
BSE Delivery % 38.09 41.48
Advances / Decines BSE Cash
Adv(%) Dec(%)
BSE 100 44.55 54.46
BSE 200 45.77 53.73
BSE 500 42.40 56.80
Total BSE 39.42 54.78
Commodities, Forex & Debt
Clsg Chg%
Crude Oil NYMEX $ bl 62.22 +0.84
Gold Rs./ 10 Gms 31916.00 +0.73
Silver Rs./ Kg 37398.00 -0.01
Rs.- US $ 70.11 +0.56
Rs.- Euro 78.71 +0.83
FII (Rs’cr’)
09/05* 08/05*
FIIs -767.72 +2810.66
MFs - -

*Date refers to the day of activity and not the day on which it is reported.

Details Buy Sell Open interest at the
end of the day
Net Position
No. of
(Rs. Cr)
No. of
(Rs. Cr)
No. of
(Rs. Cr)
(Rs. Cr)
Index Futures       44,993.00       3,244.57       69,554.00       5,312.93    2,54,726.00     19,968.20  (2,068.36)
Index Options  56,01,591.00  3,58,547.32  55,73,239.00  3,56,500.44    7,28,623.00     57,132.65   2,046.88
Stock Futures    1,93,604.00     10,676.94    2,08,925.00     11,628.71  14,54,781.00     83,419.33     (951.77)
Stock Options       71,913.00       4,140.01       74,193.00       4,299.99    1,09,916.00       6,263.62     (159.97)
Total  59,12,101.00  3,76,608.85  59,25,911.00  3,77,742.07  25,48,046.00  1,66,783.80  (1,133.22)
Corporate News
The country’s largest car maker Maruti Suzuki India (MSI) on Thursday said it has slashed its vehicle production by around 10 per cent across its factories in April. It is the company’s third consecutive month of taking a production cut. The auto major produced a total of 1,47,669 units in April, including Super Carry LCV, down 9.6 per cent from 163,368 units in the year-ago month, it said in a regulatory filing. The company cut production of passenger vehicles, including Alto, Swift and Dzire, by 10.3 per cent to 1,44,702 units as compared with 1,61,370 units in April 2018. (BL).
Marking its global foray, Reliance Brands — a subsidiary of Reliance Industries Ltd (RIL) — has acquired the entire stake in Hamleys Global Holdings that owns the famed UK toy brand Hamleys from C Banner International. The financial terms of the deal were not disclosed. (BL).
Novartis AG agreed to buy eye disease medicines from Takeda Pharmaceutical Co for as much as $5.3 billion as the Japanese company moves to shed debt after its acquisition of Shire Plc. (ET).
Buoyed by nearly 50 per cent growth in India, Thyssenkrupp Access is planning to launch an affordable range of home elevators. (BL).
Hamdard Laboratories India, makers of Rooh Afza, on Thursday said that the brand is now available on retail shelves and that the drink’s production is at peak capacity at the factories. It also urged consumers and trade partners not to be misled by incorrect information being circulated about the brand’s non-availability. (BL).
Tata Steel is planning to sell 19 per cent of its holding in the Oman-based limestone mining company, Al Rimal Mining LLC, to Oman National Investments Development Company (Tanmia). (BL).
Sundram Fasteners is planning to set up a new factory at Sri City, a private SEZ in Andhra Pradesh, as the leading auto-parts maker from the house of the TVS Group continues to expand its manufacturing operations. (ET).
Vodafone Plc, the UK-based parent company of Vodafone Idea Ltd (VIL), has pledged its entire 44.39 per cent stake in the Indian telecom operator with seven foreign banks in relation to financing agreements for the group. (BL).
Drug firm Lupin on Thursday said it has entered into a definitive agreement with Swiss company Aptissen to market, distribute and sell the current Aptissen products in Canada. This includes immediate rights to distribute Synolis VA for the treatment of Osteoarthritis. (ET).
Jindal Steel and Power Ltd (JSPL) has won an order from Rail Vikas Nigam Limited (RVNL) to supply 89,042 tonnes of rails for its upcoming projects. A JSPL statement said the order is valued at approximately Rs. 665 crore. (ET).
Mortgage lender HDFC has put up crisis-hit Jet Airways’ office space for sale with a reserve price of Rs 245 crore, as part of efforts to recover outstanding dues. (ET).
Quarterly Earnings
Drug firm Granules India on Thursday reported over three-fold jump in consolidated net profit to Rs 64.03 crore for the March quarter of 2018-19, mainly on account of robust sales. The company posted a profit of Rs 20.43 crore for the year-ago period, Granules India said in a filing to BSE. Total income during the reported quarter stood at Rs 615.19 crore. It was Rs 513.49 crore for the same period a year ago. (BL).
Steel giant ArcelorMittal on Thursday reported an over 66 per cent fall in its net income to $ 0.4 billion for the quarter ended March 31, 2019. The world’s largest steel-maker had posted a net income of $ 1.2 billion in the year-ago quarter, the company said in a statement. The company reported a “net income attributable to equity holders of the parent” of $ 0.4 billion in the first quarter. (ET).
Sundram Fasteners’s net profit grew by about 19 per cent to Rs.437 crore for 2018-19 against Rs.367 crore in the previous fiscal. Its revenue crossed the Rs.4,000-crore mark for the first time and stood at Rs.4,002 crore (Rs.3,420 crore). For the quarter ended March 31, the net profit grew 16 per cent at Rs.110 crore (Rs.95 crore). Revenue from operations stood at Rs.1,008 crore (Rs.955 crore). (ET).
Indian Overseas Bank (IOB) Thursday reported narrowing of net loss to Rs 1,985.16 crore for the March quarter of the previous fiscal due to reduction in bad loans and provisioning. The public sector lender reported a loss of Rs 3,606.73 crore during January-March, 2017-18. During December quarter of the last fiscal, the bank's loss stood at Rs 346.02 crore. Total income during the quarter was down at Rs 5,473.92 crore from Rs 5,814.42 crore in the year-ago period, the bank said in a regulatory filing. Net NPAs were 10.81 per cent (Rs 14,368.30 crore) as against 15.33 per cent (Rs 20,399.66 crore). The bank's board at its meeting held today has considered and approved a capital plan for 2019-20 for issue of equity shares to a maximum extent of 300 crore shares with appropriate premium to public, it said. (BL).
Private sector South Indian Bank Thursday reported a fall of 38 per cent in net profit at Rs 70.51 crore for the March quarter due to a rise in bad loans. The bank had registered a net profit of Rs 114.10 crore in the same period of the 2017-18 fiscal. Total income during the quarter ended March 2019 increased to Rs 2,026.59 crore from Rs 1,767.65 crore a year ago, the bank said in a regulatory filing. The bank registered a 13 per cent rise in interest income at Rs 1,790.94 crore from Rs 1,588.98 crore. Net NPAs increased to 3.45 per cent from 2.60 per cent. The board of directors, in their meeting held Thursday, proposed a dividend of Rs 0.25 per equity share for the year ended March 31, 2019, it said. (BL).
Tata Group firm Voltas on Thursday said its consolidated net profit has fallen a 27 per cent to Rs 141.74 crore for the fourth quarter ended March 2019. The company had posted a net profit of Rs 194.19 crore in the January-March quarter a year ago, Voltas said in a BSE filing. Its total income during the quarter was Rs 2,120.22 crore, a rise of 1.34 per cent as against Rs 2,092.17 crore of the corresponding quarter of the previous fiscal. (BL).
HCL Technologies on Thursday posted 15.30 per cent year-on-year rise in profit at Rs 2,568 crore for the quarter ended March 31. However, the figure declined 1.70 per cent on a quarter-on-quarter basis. Revenue increased 21.30 per cent YoY and 1.90 per cent QoQ to Rs 15,990 crore. (BS).
PNB Housing Finance has reported 51% rise in net profit for March quarter at Rs 380 crore from Rs 252 crore in the year ago period amid challenges of tight liquidity. PNB Housing said it net interest margin (NIM) for the fourth quarter to March dipped to 3.18% compared with 3.59% in the year ago period. NIM for FY19 fell to 2.93% compared with 3.19% in FY18. The company saw its loan asset grew 30% year on year to Rs 74,023 crore from Rs 57,014 crore. The board of the company on Thursday approved the financial results and proposed final dividend of Rs 9 per equity share of Rs 10 for FY19. (ET).
Apollo Tyres Thursday reported 66.41 per cent plunge in consolidated net profit at Rs 83.99 crore for the fourth quarter of 2018-19, hit by Rs 100 crore write-off related to IL&FS. The company has written off Rs 100 crore for the March quarter and a total of Rs 200 crore for the entire 2018-19 fiscal on account of IL&FS issue. It had posted a net profit of Rs 250.10 for the fourth quarter of 2017-18. Sales for the period under review stood at Rs 4,176.25 crore. It stood at Rs 3,982.43 crore for the same quarter a year ago, Apollo Tyres said in a statement. (ET).
Asian Paints Ltd (APNT) Consolidated revenue (net of excise duty in the base quarter) of the company grew 11.9% yoy to Rs5,018.2cr. However, due to higher input cost, gross margins contracted 168bps yoy. Thus, EBITDA declined by 2.0% yoy to Rs823.0cr. EBITDA margin contracted 233bps yoy to 16.4% . Company reported PAT decline of 1.7% yoy to Rs487.5cr. (BL).
Economy and Sector News
Reflecting the turbulence in the capital market and the series of corporate rating downgrades, the inflow into equity schemes of mutual funds was down 60 per cent in April to Rs.4,609 crore from Rs.11,576 crore logged in March. Similarly, inflows into equity-linked tax-saving schemes dipped 83 per cent last month to Rs.458 crore from Rs.2,742 crore registered in March leading to a sharp drop in equity assets of mutual funds. The equity assets under management (AUM) of mutual funds dropped 12 per cent to Rs.7.37-lakh crore from Rs.8.40-lakh crore in March. In more news, riding on back of large deals, private equity and venture capital (PE/VC) investments in India rose 79 per cent to $4.4 billion in April, compared with the same month a year ago. The exits during the reporting period stood at $1.6 billion, on par with that of comparable period last year. (BL).
US fast food chain McDonald’s on Thursday said it has reached an out-of-court settlement with estranged partner Vikram Bakshi, buying out the former partner from their joint venture that operated outlets of the chain in north and east India. Connaught Plaza Restaurants Pvt Ltd (CPRL) is now wholly owned by McDonald’s India Pvt Ltd (MIPL) and its affiliate (McDonald’s Global Markets LLC, “MGM“), following the completion of a settlement reached with Bakshi, the company said in a statement. (ET).
India and China on Thursday signed a protocol for the export of Indian chilli meal to China. This is the fourth protocol signed between the two nations over the past year allowing the export of farm commodities from India. (BL).
In a major relief for foreign portfolio investors (FPIs) coming via Mauritius or Singapore, the Bombay High Court has quashed an order by the Mumbai office of the Income-Tax Department that had denied any treaty benefits under the ‘grandfathering clause’ to investors, and withheld ₹800-crore of capital gains made from the selling of shares of an NBFC as tax deducted at source (TDS). (BL).
* ET - Economic Times, BS - Business Standard, BL - Business Line, TOI - Times of India, Mint, IE - Indian Express, BT - Business Today, IE - Indian Express
Global Markets

DJIA and NASDAQ Composite

US markets pulled well off the day’s lows Thursday but the S&P 500 and the Nasdaq finished lower for a fourth session as trade tensions ramped up after U.S. President Donald Trump threatened tariff retaliation on China, which he claims “broke the deal”. The Dow Jones Index closed at 25,828, down 138.97 points by 0.54%. The Standard & Poor’s 500 index closed at 2,871, down 8.70 points by 0.30%. The Nasdaq Composite Index closed at 7,911, down 32.73 points by 0.41%.

FTSE 100

UK markets ended Thursday's session down as U.S. President Donald Trump sent markets in London into a tailspin with new, pessimistic comments on trade negotiations with China. The FTSE 100 index closed at 7,207, down 63.59 points by 0.87%.

Global Indices
09/05/2019 Clsg Chg%
Dow Jones 25,828 -0.54
NASDAQ 7,911 -0.41
FTSE 100 7,207 -0.87
Bovespa 94,808 -0.83
10/05/2019 Latest
(6:42 AM IST)
Nikkei 21,457 +0.26
Hang Seng 28,311 -2.39


Asian shares inched up from two-month lows on Friday just hours ahead of the Trump administration’s plan to raise tariffs on Chinese imports as investors looked to whether negotiators from the two countries can clinch a deal to avert the hike. Nikkei is currently trading at 21,457, up 54.97 points by 0.26%.

Precious Metals

Gold futures ended higher Thursday as investors braced for an intensifying Sino-U.S. trade conflict, which could provide a lift to bullion amid markets stricken by international trade fears.

Base Metals

Comex copper prices failed to recover on Thursday May 9 morning in the United States amid persistent worries over the Sino-US trade talks.

Crude Oil

U.S. oil prices rose on Friday on renewed optimism that a trade deal between Washington and Beijing could be struck, as investors have been fearing that a protracted tariff war would harm global economic growth.


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