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Indian Stock Market updates for 31/01/19 by PurpleTrades

PurpleTrades - stock market courses > News > Indian Stock Market updates for 31/01/19 by PurpleTrades

Report by- Sabyasachi Bhattacharya


Dabur India Q3 result; let’s take a look at their performance-

FMCG company Dabur India has reported healthy numbers for October-December quarter as earnings beat analyst expectations on Thursday. Consolidated profit grew by 10.2 percent year-on-year to Rs 366 crore, which was ahead of CNBC-TV18 poll estimates of Rs 357 crore. Profit in corresponding period last fiscal stood at Rs 332 crore.

Consolidated revenue during the quarter increased 11.8 percent year-on-year to Rs 2,199 crore with healthy domestic volume growth at 12.4 percent against 13 percent in same period last year. “Prudent cost management initiatives coupled with strong growth in the domestic market across our key business categories helped Dabur India Ltd mitigate the weaker economic indicators and macro-economic headwinds in some international markets to deliver a strong overall performance in the third quarter of 2018-19 financial year,” the company said.

Dabur’s shampoo business grew by 25.2 percent and hair oil business was up 23.6 percent, helping the hair care category report a nearly 24 percent growth during the quarter. The skin & salon business ended the quarter with a 19.3 percent growth, while the OTC & ayurvedic ethicals business grew by 17.6 percent. Dabur’s toothpaste sales, led by continued demand for flagship Dabur Red Paste, was up 11.1 percent while the foods business also grew by 11.1 percent. Sunil Duggal, Chief Executive Officer, said, “The medium-term prospects for India remain robust and we are confident that domestic consumer sentiment, particularly in rural markets, will gain pace in the months to come on the back of fiscal stimulus.”

At operating level too, numbers were ahead of estimates. Consolidated EBITDA (earnings before, interest, tax, depreciation and amortisation) in Q3 increased 4.3 percent to Rs 445.2 crore, but margin contracted to 20.2 percent against 20.5 percent YoY.



Let’s take a look at their Q3 report-

Source-MoneyControl, Purple Trades Research Department   



Indian markets end January series on a high; Nifty moves above 10,800 –

Chart source- Upstox

Indian markets had a bullish day today as major Indices of Indian markets. SENSEX and NIFTY moved ahead and gained crucial points before ending the January series. As you can see on the chart given above, Nifty had a Gap-Up opening after which for a few minutes it went into accumulation phase after which it started moving ahead.

Market gave no chance to the Bears to make a comeback. India VIX also dropped below which indicates that the bulls are now more comfortable in buying that before. At the end of the day benchmark indices posted handsome gains on the F&O Expiry day and ahead of Budget, which to be declare on February 1. At the close, the Sensex was up 665.44 points at 36256.69, while Nifty was up 179.20 points at 10831. About 1403 shares have advanced, 1138 shares declined, and 131 shares are unchanged.

Axis Bank, Infosys, Tata Motors, GAIL and Titan Company are among major gainers on the Nifty, while losers are Yes Bank, Bajaj Finserv, Zee Entertainment, Indiabulls Housing and HCL Tech. All the sectoral indices ended in green led by Energy, Metal, Bank, Auto, IT, Infra and FMCG.



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

Global markets had a bullish day today. European Indices CAC, DAX and FTSE were all seen in the GREEN. US index NASDAQ along with Asian Indices were mostly seen in the GREEN. South Korean Index KOSPI was the only loser for the day.

Source- MoneyControl, Purple Trades Research Department   



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

  • 10,790 is a short term support for Nifty.
  • If Nifty breaks 10,790 then it has the potential to go down.
  • 10,850 is a short term resistance for Nifty.
  • If Nifty breaks 10,850 then it has the potential to go up.


Sectors that moved the market today- Data source- Moneycontrol




Gainers for today- Data source- Moneycontrol




Losers for today-  Data source- Moneycontrol


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