Today’s Action
Nifty, +0.1%, Sensex, +0.1%, Model Portfolio, -0.5%; MSI Ind 47, -0.2%, Nifty Midcap, -0.3%, Smallcap -0.2%.
Daily Market Review
Market Status: Uptrend Under Pressure.
The Nifty’s distribution day count stood at four.
The Nifty50 closed in the green, but the Nifty Mid-cap and Small-cap closed in the red. The advance-decline ratio was in favor of decliners. Of the 2,064 stocks traded on the NSE, 655 advanced, 1,034 declined, and 375 remained unchanged. If the Nifty is able to sustain above its 100-DMA in the upcoming sessions, it will be a bullish signal for any further momentum. Now, 10,985 will be the key level to watch. If the Nifty closes above 10,985, the market status will be changed to a Confirmed Uptrend.
On the sectoral front, Nifty Media (-2.1%), PSU Banks (-1.5%) and Pharma (-1.4%) were the top losers. On flip side Nifty Realty (+1.2%) and IT (+0.6%) were the gainers. According to O’Neil Methodology, none of the sector is in a Downtrend. Nifty FMCG, Banks, Financial Services, and Reality are in a Confirmed Uptrend.
Stocks in News
Federal Bank Q3 FY2019 numbers were above consensus estimates. Net profit was at Rs 336.6 crore, 25% y/y growth. Loan growth was 25% y/y. Gross NPA is at 3.14% versus. The stock has gained about 50% in the last three month. It is trading above all key moving averages.
Hindustan Unilever Q3 FY2019 numbers meets consensus estimates. Net profit was at Rs 1444 crore, 8.9% y/y growth. Volume growth at 10% is key positive in the result. EBITDA margin wat at 21%. Food & Refreshment EBITDA up 41% y/y. According to management, rural market grew ahead of urban. The stock is trading ~5% below its all time high.
Leaders Up on Volume: L&T Technology Services (+2.4%), Godrej Consumer Products (+2.3%), Sequent Scientific (+2.1%),
Leaders Down on Volume: Nelco (-3.7%), Glxsk.Csm.Hlthcr. (-2.3%), Avenue Supermarts (-2%)
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