Global Stock Market Drivers, Key Q3FY20 Results, and Top Cues in Focus Today

Tue, 14 Jan Pre-Open

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On Monday, Indian share markets traded on a positive note throughout the day and ended higher.

The BSE Sensex closed higher by 260 points to end the day at 41,860. Infosys and Bharti Airtel were among the top gainers.

While the broader NSE Nifty ended up by 73 points to end at 12,330.

Among BSE sectoral indices, realty stocks gained the most, followed by IT stocks and telecom stocks.

Speaking of stock markets, in the video below, Vijay Bhambwani shares some secrets about how to trade effectively in stock markets from a practical point of view.

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Top Stocks in Action Today

Tata Power share price will be in focus today as the company's wholly owned subsidiary - Tata Power Solar Systems has received Letter of Award (LoA) from NTPC for 250 MW solar project under the CPSU scheme. The total value of the order is Rs 15.1 billion and the completion period is 20 months.

JSW Steel share price will also be in focus today as the company has reported crude steel production of 4.02 million tonnes (MT) for Q3FY20, registering fall of 5% over 4.23 MT in the corresponding quarter of FY19.

Market participants will also track Alembic Pharma share price. The company has received final approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Vilazodone Hydrochloride Tablets, 10 mg, 20 mg, and 40 mg.

The approved ANDA is therapeutically equivalent to the reference listed drug product (RLD), Viibryd Tablets, 10 mg, 20 mg, and 40 mg, of Allergan Sales, LLC (Allergan).

Results Corner

In news from the IT sector, Infosys has reported a 23.5% year-on-year rise in profit at Rs 44.6 billion compared with Rs 36.1 billion posted for the same quarter last year.

Revenue for the quarter rose 7.9% to Rs 230.9 billion compared with Rs 214 billion in the year-ago period.

Operating margins for the quarter came in at 21.9%, a fall of 60 basis points over 22.6% in the December quarter of 2018.

In terms of quarter-on-quarter growth, the IT major reported a 10.6% rise in its net profit. It had posted a profit of Rs 40.4 billion in Q2FY20.

The IT major has also raised revenue growth forecast in constant currency terms to 10-10.5% for FY20 from 9-10% earlier.

To know more about the company, you can read Infosys' Q3FY20 result analysis on our website.

In other news, Tata Elxsi has reported net profit at Rs 754 million versus Rs 498 million in Q2FY20.

Revenue rose 9.7% at Rs 4,234 million versus Rs 3,858 million, QoQ.

Earnings before interest, tax, depreciation and amortization (EBITDA) jumped 33.9% to Rs 942 million, while margin was up 400 bps at 22.2%, QoQ.

To know more about the company, you can read Tata Elxsi's Q3FY20 result analysis on our website.

Avenue Supermarts has reported a rise of 53.3% in its net profit at Rs 3,942.6 million for the quarter under review as compared to Rs 2,571.1 million for the same quarter in the previous year.

On a consolidated basis, the company has reported a rise of 55.3% in its net profit at Rs 3,840 million in Q3FY20 as compared to Rs 2,472.3 million for the same quarter in the previous year.

Market participants will be tracking Bandhan Bank share price, IndusInd Bank share price, and Wipro share price as these companies are scheduled to announce their Q3FY20 results later today.

From the Economic Space...

Having contracted for three months in a row, the Index of Industrial Production (IIP) recorded a growth of 1.8% in November mainly on account of improvement in the manufacturing sector.

The IIP growth in November 2018 was 0.2%. According to the National Statistical Office (NSO) data, the growth in the manufacturing sector was 2.7% as against a contraction of 0.7% in the same month last year. Electricity generation turned negative -5% as against a growth of 5.1% in November 2018.

Mining sector output decelerated to 1.7% from 2.7% in the year ago month. The IIP growth during April-November period of the current fiscal came in at 0.6%, down from 5% in the same period of 2018-19.

The data for the November month further revealed that production of capital goods, a barometer of investment, contracted by 8.6%. This compares with a contraction of 4.1% in November 2018.

Also, there was a contraction of 3.5% in the infrastructure and construction goods segment.

While consumer durable output was in the negative territory, the consumer non-durable segment or FMCG goods recorded a small growth of 2% (against contraction of 0.3% in November 2018).

As per the NSO data, 13 out of the 23 industry groups in the manufacturing sector showed positive growth during November 2019 as compared to the corresponding month of the previous year.

The industry group 'manufacture of wood and products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials' has shown the highest positive growth of 23.2% followed by 12.9% in manufacture of basic metals.

On the other hand, the industry group 'other manufacturing' has shown the highest negative growth of -13.5% followed by -12.6 in manufacture of motor vehicles, trailers and semi-trailers.

Global Stock Market Updates

Global stock markets ticked higher on Monday, hovering just below record levels ahead of the expected signing of a Phase 1 China-US trade deal.

Asian share markets touched 19-month highs, while European markets ticked up at the open.

Tensions between the US and Iran after the US killing of a top Iranian general put investors on guard against risk last week, knocking global stocks off a record high set in the first trading week of the year.

However, with no further escalation in conflict and focus shifting toward this week's trade deal, markets rebounded.

On the commodities front, crude oil prices gained after suffering their first weekly loss since late November.

As per the economic schedule released by Vijay Bhambwani, editor of Weekly Cash Alerts, here are the important events due later today:

• China - Export, Import & Trade Balance
• India - WPI Food, Fuel & Manufacturing Inflation
• USA - Core CPI & CPI Dec

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

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