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NIFTY analysis by experts, Q2 results of Jet Airways and Aurobindo Pharma, Indian Markets face selling pressure…. Market updates for 12/11/18

PurpleTrades - stock market courses > News > NIFTY analysis by experts, Q2 results of Jet Airways and Aurobindo Pharma, Indian Markets face selling pressure…. Market updates for 12/11/18

Report by- Sabyasachi Bhattacharya

 

Jet Airways announced their Q2 results; Loss of Rs 1,291.9 crores reported-

Jet Airways posted a net loss of Rs 1,291.97 crore for the September quarter. The number cannot be compared with that of previous year as it had reported a net profit of Rs 49.6 crore during the September quarter of last year. Let us take a look at the key insights of their report-

  • The net loss has narrowed as compared to previous quarter’s loss of Rs 1,323 crore.
  • The revenue was reported at Rs 6,161.15 crore, up 9.5 percent year on year from Rs 5,626.61 crore reported during last year. On a QoQ basis, the revenue rose 2.5 percent from Rs 6,010.5 crore posted during the previous quarter.
  • Loss on account of foreign currency fluctuation for the quarter is Rs 416.69 crore.
  • The credit rating by ICRA for the NCDs Issued by the Company is “B·” and maintained asset coverage ratio of 9.6%.
  • The stock has gained 38 percent in the past one month, while in the past three days, it has fallen 5 percent.
  • At the close of market hours, Jet Airways was quoting at Rs 242.05, down Rs 15.35, or 5.96 percent, on the BSE.
  • It touched an intraday high of Rs 256.20 and an intraday low of Rs 238.00.

 

Let’s take a look at their report-

Source- MoneyControl, Purple Trades Research Department   

 

 

 

 

Aurobindo Pharma announced their Q2 results; Profit falls 22% to Rs 611.43 crores-

Aurobindo Pharma reported a net profit of Rs 611.43 crore for the September quarter. This implies a fall of 22 percent from the profit reported during the same quarter. Let us take a look at the key insights of their report-

  • The company reported a revenue of Rs 4,751.4 crore during the quarter, a rise of 7 percent from the previous year’s revenue of Rs 4,435.89.
  • The earnings before interest, taxes, depreciation and amortization was reported at Rs 986.3 crore for the September quarter.
  • The operating margin as reported at 20.8 percent.
  • The Board also approved an interim dividend of Rs 1.25 per share and has fixed November 22, 2018 as the record date.

 

Let’s take a look at their report-

Source- MoneyControl, Purple Trades Research Department     

 

 

 

 

Indian Indices move lower from key resistance levels-

Chart source- Upstox

Indian markets had a BEARISH day today as major Indices slipped from previous day’s levels. As you can see in the chart given above Nifty fell almost 100 points and closed just below 10,500. It had a GAP-UP opening today which helped it to cross 10,600 levels but those levels couldn’t be sustained for long and the Index fell nearly 100 points. It had a tough time breaking the close of previous day as you can see on the chart that it consolidated for a while in the afternoon but eventually it gave up that level and fell further below to touch 10,480. Midcap and smallcap has performed in line with the major indices. Among the sector, automobiles, PSU bank were down more than 2 percent, while metal, pharma, infra and energy stocks were among the major losers. HPCL, Tata Motors, IOC, Bajaj Finance and Hindalco Industries lost the most. The Sensex ended down 345.56 points at 34,812.99, while Nifty was down 103 points at 10482.20. About 1068 shares have advanced, 1527 shares declined, and 154 shares are unchanged.

 

 

Let’s take a look at the performance of major Indices-

Global Indices were mostly seen in the RED as only Asian Markets Indices like NIKKEI, Hang Seng ended up in the GREEN. Heavy selling was seen across all the global markets including US markets and European markets.

 

Source- MoneyControl, Purple Trades Research Department   

 

 

Key Points for Traders to watch out for while trading Nifty tomorrow-

  • Nifty has broken the resistance at 10,500 but it has a key pivot placed at 10,465.
  • Market breath is very negative as many PUTS have been unwound today. Also much heavy CALL Writing has been seen on the levels of 10,600 and also at 10,500.
  • 10,465 is a short term support for Nifty.
  • If Nifty breaks 10,465 then it has the potential to go down to the next support at 10,390.
  • 10,530 is a short term resistance for Nifty.
  • If Nifty goes above 10,530 then it can potentially go up to 10,585 or above.

 

Top sectors that moved the market today-                            Data source- Moneycontrol

 

 

Top Gainers for today-                                                                                        Data source- Moneycontrol

 

 

Top losers for today-                                                               Data source- Moneycontrol

 

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