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NIFTY analysis with experts, Q2 results of Asian Paints and Adani Ports, Indian markets broke crucial resistance of 10,700 and move upwards…. Market updates for 19/11/18

PurpleTrades - stock market courses > News > NIFTY analysis with experts, Q2 results of Asian Paints and Adani Ports, Indian markets broke crucial resistance of 10,700 and move upwards…. Market updates for 19/11/18

Report by- Sabyasachi Bhattacharya

 

Asian Paints announced their Q2 results; Net sales up by 8.76% to Rs 4,639.05 crores-

Asian Paints announced a growth in their Net sales for this quarter Let us review the key highlights of their report-

  • Net Sales at Rs 4,639.05 crore in September 2018 Up 8.76% from Rs. 4,265.23 crore in September 2017.
  • Quarterly Net Profit at Rs. 492.76 crore in September 2018 Down 14.44% from Rs. 575.89 crore in September 2017.
  • EBITDA stands at Rs. 847.47 crore in September 2018 Down 0.83% from Rs. 854.53 crore in September 2017.
  • Asian Paints EPS has Decreased to Rs. 5.14 in September 2018 from Rs. 6.00 in September 2017.
  • Asian Paints shares closed at 1,321.30 on November 16, 2018 (NSE) and has given -0.18% returns over the last 6 months and 12.02% over the last 12 months.

 

 

 

Let us take a look at their report-

Source- MoneyControl, Purple Trades Research Department   

 

 

Adani Ports announced their Q2 results; Net sales at Rs 2,608.01 crores, down by 3.63% YoY-

Adani Ports reported a decline in Net sales for this quarter. Let us review some of the key highlights of their report-

  • Net Sales at Rs 2,608.01 crore in September 2018 Down 3.63% from Rs. 2,706.11 crore in September 2017.
  • Quarterly Net Profit at Rs. 605.50 crore in September 2018 Down 38.97% from Rs. 992.08 crore in September 2017.
  • Adani Ports EPS has Decreased to Rs. 2.92 in September 2018 from Rs. 4.79 in September 2017.
  • EBITDA stands at Rs. 1,447.31 crore in September 2018 Down 29.08% from Rs. 2,040.78 crore in September 2017.
  • Adani Ports shares closed at 347.45 on November 16, 2018 (NSE) and has given -13.81% returns over the last 6 months and -12.53% over the last 12 months.

 

Let us take a look at their report-

Source- MoneyControl, Purple Trades Research Department     

 

 

 

Indian Indices move upwards and closed above 10,600-

Chart source- Upstox

Indian markets had a good day in terms of gains as major indices move forward. Nifty had a GAP-UP opening today which helped the Index break the resistance of 10,700 quite easily. Now the mark of 10,700 became a support for the Index as when it started falling it touched the levels of 10,700 and bounced back. The Index moved in a trend line fashion as you can see on the chart, making higher highs and higher lows. In the last 2 hours, the Index caught up pace amidst strengthening Rupee news. The good news for the Investors is that the major resistance of 10,700 has finally been broken. And from here the Index is expected to give good returns. We can conclude that it’s a strong start to the week, with the Sensex ending over 300 points higher, while the Nifty surged past 10,750 on the back of intense buying. Buying counters were buzzing among sectors such as automobiles, consumption, energy, infrastructure, IT, metals and pharmaceuticals as well. In the broader markets, the Nifty Midcap index rose around half a percent. Financials saw a rally as news reports indicated that the central bank was open to tweaking/review of PSU banks’ prompt corrective action (PCA) plan. At the close of market hours, the Sensex closed up 317.72 points or 0.90% at 35774.88, while the Nifty was higher 81.20 points or 0.76% at 10763.40. The market breadth was narrow as 1,330 shares advanced, against a decline of 1,278 shares, while 160 shares were unchanged. Yes Bank and ITC were the top gainers, while ONGC, ICICI Bank, Indiabulls Housing and GAIL lost the most.

 

 

 

 

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

Global Indices had a mixed reaction today as European market Indices FTSE was seen in the GREEN but CAC and DAX were seen in the RED. The Asian markets had a mixed reaction as NIKKEI was seen in the GREEN but Straits Times was seen in the RED. US markets were down as NASDAQ was in the RED.

Source- MoneyControl, Purple Trades Research Department   

 

 

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

  • 10,730 is a short term support for Nifty.
  • If Nifty breaks 10,730 then it has the potential to go down to the next support at around 10,680..
  • 10,830 is a short term resistance for Nifty.
  • Nifty is expected to move upwards tomorrow as well up to 10,800 or 10,830.

 

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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