Business Standard Podcast

Crude oil prices, March quarter earnings, and US-China trade tensions would be the key monitorable for investors on Friday. On Thursday, the benchmark S&P BSE Sensex rose 279 points to close at 37,393 levels. The broader Nfity50 index added 100 points to settle at 11,257 mark. The rupee closed marginally higher at Rs 70.03 per dollar, up 30 paise against Wednesday’s close of Rs 70.33. CORPORATE RESULTS Bajaj Auto, Dr. Reddy’s Laboratories, Indian Oil Corporation, and Zee Learn are among the 84 companies that are scheduled to report their Q4FY19 results today. GLOBAL CUES Asian shares were trying to hold steady on Friday. MSCI’s broadest index of Asia-Pacific shares outside Japan inched up 0.1 per cent and was off a 15-week trough. Japan’s Nikkei bounced 0.7 per cent in early trade, while the main Australian index added 0.5 per cent. On Wall Street, indices ended higher during the overnight trade on Thursday adding about a per cent each. While Dow Jones Industrial Average added 215 points to settle at 25,863 levels, S&P500 closed 25 points higher at 2,876. Nasdaq was up 76 points to end at 7,898 levels.    CRUDE CHECK Oil prices extended gains on Friday as rising tensions in the Middle East stoked fears of potential supply disruptions. Brent crude futures were at $72.82 a barrel around 6:00 am, up 0.3 per cent, from their last close.

Investors went on a buying spree in the last hour thus pulling benchmark indices, which remained range-bound for most part of the day, into the green with over 200 points and 100 points gain for Sensex and Nifty, respectively. The benchmark S&P BSE Sensex rose 279 points to close at 37,393, with Bajaj Finance, Tata Motors, Infosys, Vedanta, and ONGC raking in the highest gains. Out of the 30 BSE constituents, 21 ended in the green. The broader Nfity50 index added 100 points to reclaim psychological 11,250 level and end the day at 11,257. Market breadth, however, remained in favour of sellers. About 898 stocks declined and 841 advanced on the NSE. Among sectoral indices, only one index ended the day in red, with Nifty Media, Nifty Metal, and Nifty Realty rising 2.26 per cent, 1.17 per cent, and 1.1 per cent, respectively. In the broader market, the S&P BSE MidCap index rose 37 points, or 0.27 per cent, to finish the day at 14,155, while the S&P BSE SmallCap index climbed 35 points, or 0.25 per cent, at 13,817. BUZZING STOCKS Bajaj Finance shares rose 3.64 per cent at Rs 3,111.80 on the BSE after reporting its January-March quarter earnings (Q4FY19) today.  Lupin shares dipped 6 per cent to Rs 736 on Thursday before making a recovery to end the day 0.22 per cent lower at Rs 781.35, on the BSE, after the drug company reported lower-than-expected net profit of Rs 290 crore for March quarter (Q4FY19). Analysts, on an average, had expected profit of Rs 455 crore for the quarter.  Tata Chemicals (TCL) shares surged 8.38 per cent higher at Rs 603.45 on the National Stock Exchange (NSE) on Thursday after the company announced demerger of its consumer products business into other group firm Tata Global Beverages (TGBL).

Investors went on a buying spree in the last hour thus pulling benchmark indices, which remained range-bound for most part of the day, into the green with over 200 points and 100 points gain for Sensex and Nifty, respectively. The benchmark S&P BSE Sensex rose 279 points to close at 37,393, with Bajaj Finance, Tata Motors, Infosys, Vedanta, and ONGC raking in the highest gains. Out of the 30 BSE constituents, 21 ended in the green. The broader Nfity50 index added 100 points to reclaim psychological 11,250 level and end the day at 11,257. Market breadth, however, remained in favour of sellers. About 898 stocks declined and 841 advanced on the NSE. Among sectoral indices, only one index ended the day in red, with Nifty Media, Nifty Metal, and Nifty Realty rising 2.26 per cent, 1.17 per cent, and 1.1 per cent, respectively. In the broader market, the S&P BSE MidCap index rose 37 points, or 0.27 per cent, to finish the day at 14,155, while the S&P BSE SmallCap index climbed 35 points, or 0.25 per cent, at 13,817. BUZZING STOCKS Bajaj Finance shares rose 3.64 per cent at Rs 3,111.80 on the BSE after reporting its January-March quarter earnings (Q4FY19) today.  Lupin shares dipped 6 per cent to Rs 736 on Thursday before making a recovery to end the day 0.22 per cent lower at Rs 781.35, on the BSE, after the drug company reported lower-than-expected net profit of Rs 290 crore for March quarter (Q4FY19). Analysts, on an average, had expected profit of Rs 455 crore for the quarter.  Tata Chemicals (TCL) shares surged 8.38 per cent higher at Rs 603.45 on the National Stock Exchange (NSE) on Thursday after the company announced demerger of its consumer products business into other group firm Tata Global Beverages (TGBL).

The monsoon is likely to be delayed this year as its arrival expected on 6 June, five days after its normal onset date, the India Meteorological Department said on Wednesday. "This year, the statistical model forecast suggests that the monsoon onset over Kerala is likely to be slightly delayed," the IMD said. "The southwest monsoon onset is likely to set over Kerala on 6th June with a model error of plus or minus 4 days." "Conditions are becoming favourable for advance of southwest monsoon over the southern part of Andaman Sea, Nicobar Islands and adjoining southeast Bay of Bengal during May 18-19," it added. The normal onset date for monsoon over Kerala is 1 June, which also marks the official commencement of the four-month rainfall season. The IMD and private weather agency Skymet were unanimous on the prediction of the late arrival of monsoon this year. The Skymet had said on Tuesday that the monsoon would hit the Kerala coast on 4 June, with an error margin of two days. Listen to thispodcast for more.

The monsoon is likely to be delayed this year as its arrival expected on 6 June, five days after its normal onset date, the India Meteorological Department said on Wednesday. "This year, the statistical model forecast suggests that the monsoon onset over Kerala is likely to be slightly delayed," the IMD said. "The southwest monsoon onset is likely to set over Kerala on 6th June with a model error of plus or minus 4 days." "Conditions are becoming favourable for advance of southwest monsoon over the southern part of Andaman Sea, Nicobar Islands and adjoining southeast Bay of Bengal during May 18-19," it added. The normal onset date for monsoon over Kerala is 1 June, which also marks the official commencement of the four-month rainfall season. The IMD and private weather agency Skymet were unanimous on the prediction of the late arrival of monsoon this year. The Skymet had said on Tuesday that the monsoon would hit the Kerala coast on 4 June, with an error margin of two days. Listen to thispodcast for more.

March quarter earnings, crude oil prices, and developments in trade deal negotiations between the US and China would be the key factors affecting investors’ sentiments on Thursday. On Wednesday, the benchmark S&P BSE Sensex dipped 204 points to 37,115 levels while the broader Nifty50 slipped below the psychological level of 11,200 to settle at 11,157 mark, down 65 points. The rupee closed at Rs 70.34 per dollar, up 10 paise against Tuesday’s close of Rs 70.44. CORPORATE RESULTS Bajaj Finance, Bank of India, Hindalco and JK Tyre and Industries are among the 70 companies that are slated to release their March quarter results today. GLOBAL CUES Asian shares steadied on Thursday on news that US President Donald Trump is planning to delay tariffs on auto imports. MSCI’s broadest index of Asia-Pacific shares outside Japan was flat, with both Australia and South Korea little changed. On Wall Street, the indices ended higher during the overnight trade. The Dow Jones Industrial Average gained 116 points to settle at 25,648 levels while the S&P500 inched up 16 points to close at 2,851 levels. The Nasdaq closed 88 points higher at 7,822 levels. CRUDE CHECK Oil prices edged up on the prospect of mounting tensions in the Middle East hitting global supplies. Brent crude rose 0.7 per cent to $72.25 a barrel, while US West Texas Intermediate (WTI) crude fetched $62.45 a barrel, up 0.7 per cent.

March quarter earnings, crude oil prices, and developments in trade deal negotiations between the US and China would be the key factors affecting investors’ sentiments on Thursday. On Wednesday, the benchmark S&P BSE Sensex dipped 204 points to 37,115 levels while the broader Nifty50 slipped below the psychological level of 11,200 to settle at 11,157 mark, down 65 points. The rupee closed at Rs 70.34 per dollar, up 10 paise against Tuesday’s close of Rs 70.44. CORPORATE RESULTS Bajaj Finance, Bank of India, Hindalco and JK Tyre and Industries are among the 70 companies that are slated to release their March quarter results today. GLOBAL CUES Asian shares steadied on Thursday on news that US President Donald Trump is planning to delay tariffs on auto imports. MSCI’s broadest index of Asia-Pacific shares outside Japan was flat, with both Australia and South Korea little changed. On Wall Street, the indices ended higher during the overnight trade. The Dow Jones Industrial Average gained 116 points to settle at 25,648 levels while the S&P500 inched up 16 points to close at 2,851 levels. The Nasdaq closed 88 points higher at 7,822 levels. CRUDE CHECK Oil prices edged up on the prospect of mounting tensions in the Middle East hitting global supplies. Brent crude rose 0.7 per cent to $72.25 a barrel, while US West Texas Intermediate (WTI) crude fetched $62.45 a barrel, up 0.7 per cent.

Benchmark indices ended with losses, dragged down by metal stocks, on Wednesday due to last hour sell-off after a volatile session. India VIX, the gauge for voltality, rose 5.4 per cent during the day. The benchmark S&P BSE Sensex dipped 204 points, or 0.55 per cent, at 37,115, with HDFC, Tata Motors, IndusInd Bank, ICICI Bank, and YES Bank weighing the indice down. Out of the 30 constituents of BSE, 25 ended in the red.  The broader Nity50 index ended 65 points, or 0.58 per cent, lower to settle at 11,157. About 1,084 stocks declined and 659 advanced on the NSE. Among sectoral indices, all but two indices in the red, with Nifty Media index and Nifty Metal indices plummeting 3.74 per cent and 2.1 per cent, respectively. In the broader market, the S&P BSE MidCap slipped 95 points, or 0.67 per cent, at 14,117, while the S&P BSE SmallCap ended the day 62 points, or 0.45 per cent, lower at 13,782. Buzzing stock Jet Airways (India) shares slipped 4.18 per cent to Rs 123.70 on Wednesday on the BSE after top executives of the cash-strapped airline resigned with immediate effect.  Shares of Union Bank of India plunged as much as 10.03 per cent to Rs 71.30 apiece in the intra-day trade on Wednesday after the state-run lender said its net loss widened to Rs 3,370 crore in the fourth quarter of 2018-19, mainly on account of higher provisioning. The company had registered a net loss of Rs 2,583.38 crore in the same quarter of the preceding fiscal. 

Benchmark indices ended with losses, dragged down by metal stocks, on Wednesday due to last hour sell-off after a volatile session. India VIX, the gauge for voltality, rose 5.4 per cent during the day. The benchmark S&P BSE Sensex dipped 204 points, or 0.55 per cent, at 37,115, with HDFC, Tata Motors, IndusInd Bank, ICICI Bank, and YES Bank weighing the indice down. Out of the 30 constituents of BSE, 25 ended in the red.  The broader Nity50 index ended 65 points, or 0.58 per cent, lower to settle at 11,157. About 1,084 stocks declined and 659 advanced on the NSE. Among sectoral indices, all but two indices in the red, with Nifty Media index and Nifty Metal indices plummeting 3.74 per cent and 2.1 per cent, respectively. In the broader market, the S&P BSE MidCap slipped 95 points, or 0.67 per cent, at 14,117, while the S&P BSE SmallCap ended the day 62 points, or 0.45 per cent, lower at 13,782. Buzzing stock Jet Airways (India) shares slipped 4.18 per cent to Rs 123.70 on Wednesday on the BSE after top executives of the cash-strapped airline resigned with immediate effect.  Shares of Union Bank of India plunged as much as 10.03 per cent to Rs 71.30 apiece in the intra-day trade on Wednesday after the state-run lender said its net loss widened to Rs 3,370 crore in the fourth quarter of 2018-19, mainly on account of higher provisioning. The company had registered a net loss of Rs 2,583.38 crore in the same quarter of the preceding fiscal. 

Clashes broke out between BJP supporters and student activists and those of the Left and Trinamool Congress Chatra Parishad (TMCP) during Amit Shah's roadshow in the city on Tuesday, officials said. Trouble began after stones were pelted at Amit Shah's convoy as it passed through College Street and the arterial Bidhan Sarani on its way to Swami Vivekananda's residence in north Kolkata, a little over 3.5 km from Esplanade in the heart of the city, where it began. A scuffle broke outside the Calcutta University campus on College Street, when student activists of both the Left and the TMCP shouted slogans against Shah, they said. They showed black flags and waved posters with "Amit Shah go back" written on them. The police controlled the scuffle. A clash took place outside Vidyasagar college and university hostel when TMCP activists threw stones at Shah's convoy, the officials said. Listen to this podcast for more...

Clashes broke out between BJP supporters and student activists and those of the Left and Trinamool Congress Chatra Parishad (TMCP) during Amit Shah's roadshow in the city on Tuesday, officials said. Trouble began after stones were pelted at Amit Shah's convoy as it passed through College Street and the arterial Bidhan Sarani on its way to Swami Vivekananda's residence in north Kolkata, a little over 3.5 km from Esplanade in the heart of the city, where it began. A scuffle broke outside the Calcutta University campus on College Street, when student activists of both the Left and the TMCP shouted slogans against Shah, they said. They showed black flags and waved posters with "Amit Shah go back" written on them. The police controlled the scuffle. A clash took place outside Vidyasagar college and university hostel when TMCP activists threw stones at Shah's convoy, the officials said. Listen to this podcast for more...

Global factors such as developments in US-China trade negotiations, Chinese industrial output and retail sales data and crude oil price movement are expected to drive markets on Wednesday. On the domestic front, corporate earnings for the March quarter will continue to be on the investors' radar.  Benchmark indices snapped their nine-day losing streak on Tuesday to settle higher. The S&P BSE Sensex ended the day 228 points higher at 37,319 while the broader Nifty50 index finished 74 points higher at 11,222. Rupee closed eight paise higher at Rs 70.44 per dollar against Monday’s close of Rs 70.52. RESULTS CORNER Over 80 companies including Central Bank of India, Jubilant FoodWorks, Lupin, and Vivanta Industries are scheduled to announce their Q4FY19 results today.   GLOBAL CUES Asian stocks wobbled around three-and-a-half-month low on Wednesday after US President Donald Trump insisted on Tuesday that trade talks with China had not collapsed. MSCI’s broadest index of Asia-Pacific shares outside Japan edged down 0.05 per cent with South Korea’s KOSPI slipping 0.1 per cent and Japan’s Nikkei shedding 0.4 per cent. On Wall Street, indices closed at a one-month-high during the overnight trade on Tuesday, rallying close to a per cent each. The Dow Jones Industrial Average ended 207 points higher at 25,532 while the S&P500 closed 23 points up at 2,834 levels. The Nasdaq gained 87 points to end at 7,734 levels. In commodities, Brent crude futures were trading at $71.05 a barrel, down 0.27 per cent from their previous close, during the early morning trade on Wednesday.

Global factors such as developments in US-China trade negotiations, Chinese industrial output and retail sales data and crude oil price movement are expected to drive markets on Wednesday. On the domestic front, corporate earnings for the March quarter will continue to be on the investors' radar.  Benchmark indices snapped their nine-day losing streak on Tuesday to settle higher. The S&P BSE Sensex ended the day 228 points higher at 37,319 while the broader Nifty50 index finished 74 points higher at 11,222. Rupee closed eight paise higher at Rs 70.44 per dollar against Monday’s close of Rs 70.52. RESULTS CORNER Over 80 companies including Central Bank of India, Jubilant FoodWorks, Lupin, and Vivanta Industries are scheduled to announce their Q4FY19 results today.   GLOBAL CUES Asian stocks wobbled around three-and-a-half-month low on Wednesday after US President Donald Trump insisted on Tuesday that trade talks with China had not collapsed. MSCI’s broadest index of Asia-Pacific shares outside Japan edged down 0.05 per cent with South Korea’s KOSPI slipping 0.1 per cent and Japan’s Nikkei shedding 0.4 per cent. On Wall Street, indices closed at a one-month-high during the overnight trade on Tuesday, rallying close to a per cent each. The Dow Jones Industrial Average ended 207 points higher at 25,532 while the S&P500 closed 23 points up at 2,834 levels. The Nasdaq gained 87 points to end at 7,734 levels. In commodities, Brent crude futures were trading at $71.05 a barrel, down 0.27 per cent from their previous close, during the early morning trade on Wednesday.

Benchmark indices snapped their nine-day losing streak, helped by gains in Reliance, ITC. and State Bank of India, to end Tuesday's volatile session with gains. The S&P BSE Sensex ended the day 228 points, or 0.61 per cent, higher at 37,319, with Sun Pharma, Bharti Airtel, Vedanta, IndusInd Bank, and State Bank of India among the top gainers. Of the 30 BSE constituents, 14 ended in the red. The broader Nifty50 index finished 74 points, or 0.66 per cent, higher at 11,222. About 897 stocks advanced and 875 shares declined on the NSE. Among sectoral indices, only Nifty IT index ended the day in red, down 1.2 per cent, while the Nifty PSU Bank index made the maximum gain, up almost 3 per cent, while Nifty Pharma index also rose 1.5 per cent. In the broader market, the S&P BSE MidCap index rose 88 points, or 0.62 per cent, at 14,213, while the S&P BSE SmallCap index was up 42 points, or 0.30 per cent, at 13,844 level. BUZZING STOCKS Shares of Tata Steel traded lower for the ninth straight day on Tuesday, down 0.39 per cent on the BSE, at Rs 462.75 apiece. The stock has been falling ever since concerns over the European Commission's (EC) likely rejection for the proposed joint venture between the company's European arm and ThyssenKrupp surfaced.  Jet Airways (India) slumped 7.42 per cent to Rs 129.10 on the BSE on Tuesday on a news report that Etihad Airways had put in stiff conditions in its bid that includes substantial write down of the Rs 9,000-crore loan. 

Benchmark indices snapped their nine-day losing streak, helped by gains in Reliance, ITC. and State Bank of India, to end Tuesday's volatile session with gains. The S&P BSE Sensex ended the day 228 points, or 0.61 per cent, higher at 37,319, with Sun Pharma, Bharti Airtel, Vedanta, IndusInd Bank, and State Bank of India among the top gainers. Of the 30 BSE constituents, 14 ended in the red. The broader Nifty50 index finished 74 points, or 0.66 per cent, higher at 11,222. About 897 stocks advanced and 875 shares declined on the NSE. Among sectoral indices, only Nifty IT index ended the day in red, down 1.2 per cent, while the Nifty PSU Bank index made the maximum gain, up almost 3 per cent, while Nifty Pharma index also rose 1.5 per cent. In the broader market, the S&P BSE MidCap index rose 88 points, or 0.62 per cent, at 14,213, while the S&P BSE SmallCap index was up 42 points, or 0.30 per cent, at 13,844 level. BUZZING STOCKS Shares of Tata Steel traded lower for the ninth straight day on Tuesday, down 0.39 per cent on the BSE, at Rs 462.75 apiece. The stock has been falling ever since concerns over the European Commission's (EC) likely rejection for the proposed joint venture between the company's European arm and ThyssenKrupp surfaced.  Jet Airways (India) slumped 7.42 per cent to Rs 129.10 on the BSE on Tuesday on a news report that Etihad Airways had put in stiff conditions in its bid that includes substantial write down of the Rs 9,000-crore loan.