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NIFTY analysis with experts, Q2 results of Bajaj Finserv and Jubilant Life, Indian markets broke crucial support of 10,730 and fell sharply…. Market updates for 20/11/18

PurpleTrades - stock market courses > News > NIFTY analysis with experts, Q2 results of Bajaj Finserv and Jubilant Life, Indian markets broke crucial support of 10,730 and fell sharply…. Market updates for 20/11/18

Report by- Sabyasachi Bhattacharya

 

Bajaj Finserv announced their Q2 results; Net sales up by 28.26% to Rs 9,698.14 crores-

Bajaj Finserv announced their quarterly result today. They have shown a decent growth in their Net sales mainly because of increase in income due to interest. Let us take a look at the key highlights of their report-

  • Net Sales at Rs 9,698.14 crore in September 2018 Up 28.26% from Rs. 7,561.04 crore in September 2017.
  • Quarterly Net Profit at Rs. 704.01 crore in September 2018 Up 7.93% from Rs. 652.30 crore in September 2017.
  • EBITDA stands at Rs. 3,402.95 crore in September 2018 Up 30.61% from Rs. 2,605.36 crore in September 2017.
  • Bajaj Finserv EPS has Increased to Rs. 44.20 in September 2018 from Rs. 41.00 in September 2017.
  • Bajaj Finserv shares closed at 5,695.65 on November 16, 2018 (NSE) and has given 7.08% returns over the last 6 months and 14.26% over the last 12 months.

 

 

Let us take a look at their report-

Source- MoneyControl, Purple Trades Research Department   

 

 

Jubilant Life announced their Q2 results; Net sales at Rs 2,269.49 crores, up by 38.23% YoY-

Jubilant Life posted their quarterly result today in which they have reported a huge growth in their Net sales mainly because of the appreciation in the value of Rupee against dollar. Let us take a look at the key highlights of their report-

  • Net Sales at Rs 2,269.49 crore in September 2018 Up 38.23% from Rs. 1,641.82 crore in September 2017.
  • Quarterly Net Profit at Rs. 210.41 crore in September 2018 Up 67.7% from Rs. 125.47 crore in September 2017.
  • EBITDA stands at Rs. 454.01 crore in September 2018 Up 44.98% from Rs. 313.15 crore in September 2017.
  • Jubilant Life EPS has Increased to Rs. 13.50 in September 2018 from Rs. 8.23 in September 2017.
  • Jubilant Life shares closed at 753.10 on November 16, 2018 (NSE) and has given -7.66% returns over the last 6 months and 21.65% over the last 12 months.

 

Let us take a look at their report-

Source- MoneyControl, Purple Trades Research Department     

 

 

 

 

Indian Indices bleed on Dalal street as Nifty breaks below 10,700-

Chart source- ChartInk

Indian markets had a downfall today as major Indices were gripped by the BEARS today. In the chart you’ll see that Nifty had a GAP-DOWN opening today after which the BULLS were nowhere to be seen. The BEARS dominated almost all the sessions and made sure Nifty closed just below the 10,650 mark. Our experts in Purple Trades predicted yesterday that if Nifty crosses the 10,730 mark then it has the potential to go down further to 10,680 or below. At the end it was a negative end for the market on Tuesday, failing to cash in on the positive start it had at the start of this week. The Nifty has ended below 10,700, with immense selling seen among all sectors. Selling was visible the most among sectors such as IT, metals and pharmaceuticals. Meanwhile, financials, automobiles and consumption also saw weak trades. In the broader markets, the Nifty Midcap index ended the day over a percent lower. At the close of market hours, the Sensex shut down 300.37 points or 0.84% at 35474.51, while the Nifty ended lower by 107.20 points or 1.00% at 10656.20. The market breadth was negative as 857 shares advanced, against a decline of 1,706 shares, while 150 shares were unchanged. Adani Ports, IndusInd Bank, and GAIL were the top gainers, while Yes Bank, Tata Steel and Hindalco lost the most.

 

Let’s take a look at the reasons why NIFTY slipped below 10,700-

  • In its first meeting after the deep rift between the central bank and the government became public, the Reserve Bank of India (RBI) said on Monday its board would support small businesses and has extended the timeline for banks to set aside an additional 0.625 percent as capital conservation buffer by one year to March 31, 2020 to help them to lend more. But the outcome of the central bank board’s meet to boost lending failed to impress investors as the implementation of the proposed measures will take time.
  • The Reserve Bank of India’s decision to allow lenders more time to adhere to additional capital buffer norms under Basel 3 is credit negative for the country’s state-run banks.
  • All the Global Indices were seen in the RED today. There was selling pressure seen in every country amidst worsening global cues.
  • The Nifty50 fell below its 200-day moving average placed around 10,700 which also increased selling pressure in the market. The index has a strong support around 10,600, which if breached could lead it to below 10,500.

 

 

 

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

All the Global Indices were seen in the RED today as Asian market Index Nikkei, German Index DAX, French Index CAC, Britain’s Index FTSE, US Index NASDAQ, all were under selling pressure amidst worsening global cues.

Source- MoneyControl, Purple Trades Research Department   

 

 

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

  • 10,635 is a short term support for Nifty.
  • If Nifty breaks 10,635 then it has the potential to go down to the next support at around 10,580.
  • 10,660 is a short term resistance for Nifty.
  • If Nifty breaks 10,660 then it has the potential to go up to the next resistance at around 10,700.

 

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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