Daily Market Reports From CapitalHeight

Daily Market Reports From CapitalHeight
Market commentary

Late selling in the market drags Nifty below 11,150 level and Sensex by 372 points in today's trading session.

The Sensex was down 372.17 points at 37090.82, while Nifty was down 130.70 points at 11148.20

On the sectoral front, major selling was seen in the PSU Bank and Pharma as both the indices closed with 4 percent cut, followed by metal, auto, energy and infra.

TITAN, HDFC,INFRA TEL,TEC HM, HINDU NILVR were the top gainers among Nifty 50 stocks while EICHERMOT, ZEEL, SUN PHARMA, IBULHSGFIN, YES BANK were the top losers.

On Tuesday Indian indices will likely to open on flatto bearish note, later volatility will be expected. Keep your eyes on IT sector. 

                                        Nifty 50 Index

NEWS Highlights
·      FMCG major ITC has reported 18.7 percent jump in its Q4FY19 net profit to Rs 3,482 crore on the back of strong sales from the FMCG and cigarette units.The company had reported a profit of Rs 2,932.7 crore in a year ago period.The revenue of the company was up 13 percent at Rs 11,992 crore against Rs 10,587 crore.The operating profit or Earnings before interest, tax, depreciation and amortization (EBITDA) of the company was at Rs 4,572 crore, while margin was at 38.1%.

The company's cigarette sales rose 11.1% at Rs 5,486 crore. The cigarette EBIT was up 10% at Rs 3,856 crore, while margin was at 70.3 percent. The total FMCG revenue of the company was up 9.7 percent at Rs 8,760 crore versus Rs 7,988 crore. EBIT was up 12.8 percent at Rs 4,057 crore, while margin was at 46.3 percent.

·        Housing finance company, HDFC announced its Q4 results today and posted a 26.8% growth in net profit for March quarter. Net profit in the March quarter increased to Rs 2,861.58 crore in the March quarter, as compared to Rs 2,256.68 crore in the same quarter of the previous year. Last year, the company reported a net profit of Rs 2,257 crore in the January-March quarter. Total income during the quarter rose to Rs 11,586.58 crore as against Rs 9,322.36 crore in the year-ago period. During the quarter, the net interest income improved to Rs 3,161 crore compared to Rs 2,650 crore in the corresponding quarter of the previous year, representing a growth of 19 per cent, HDFC said in a statement.

·        Asia is set to dominate the world in terms of growth as, according to Standard Chartered, most of its economies are expected to sustain a growth rate of nearly 7 percent throughout the 2020s, Bloomberg reported.The countries that will lead this trend are India, Bangladesh, Vietnam, Myanmar and the Philippines.

 A 7 percent growth means doubling of GDP every 10 years. This will help prop up per-capita income. For instance, Vietnam's per capita income is set to rise from $2,500 in 2018 to $10,400 in 2030, as per the report.South Asian countries will make for nearly a fifth of the world's population by 2030, Standard Chartered predicted in its research.

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