Top losers on BSE500 COMPANY PRICE() CHG() CHG(%) VOLUME DENA BANK 14.65 -3.30 -18.38 1795776 VIJAYA BANK 47.80 -3.25 -6.37 232436 SHEELA FOAM 1420.00 -58.45 -3.95 185 JET AIRWAYS 253.60 -10.15 -3.85 583008 UCO BANK 21.35 -0.75 -3.39 66188 » More on Top Losers

Jet Airways skids 11% in two days after ICRA downgrades airline's rating Shares of Jet Airways (India) slipped 5% to Rs 251 on Thursday, falling 11% in the past two trading days on BSE, after the rating agency ICRA on Wednesday downgraded the airline’s Rs 10,963 crore loan and debenture ratings. “ICRA has revised the long-term rating (assigned to long-term loans and non-convertible debentures) to D from C. The short- term rating has been revised to D from A4,” Jet Airways said in a statement. Read more

Top gainers and losers on S&P BSE Sensex

SMS Lifesciences hits record high; stock zooms 39% in two days Shares of SMS Lifesciences India hit a new high of Rs 683 per share, gaining 16% on the BSE on Thursday in an otherwise range-bound market. The stock has surged 39% in past two trading days. The trading volumes on the counter have more than doubled with a combined 268,024 equity shares changed hands on the BSE and NSE till 10:08 am. In comparison, the S&P BSE Sensex was up marginally by 0.17% at 35,952 points. Read more  

Edelweiss on Metals and Mining   CY18 has been eventful for the sector with macroeconomic concerns– trade wars, China slowdown and strengthening dollar index – bringing the six-quarter momentum to a grinding halt. It is a story of contrasting halves with prices and spreads soaring in H1 and nosediving in H2. As a result, all stocks – barring a few such as JSW Steel and BHP – yielded negative returns. Furthermore, over the last 12 months, valuations have eroded. Going ahead, we see CY19 fraught with uncertainties due to continuing trade brawls, China’s domestic policies and slowing global growth. We maintain preference for Tata Steel (BUY/SO) due to its impending restructuring and (increasingly) domestically focused operating model, and Hindalco (BUY/SO) due to its earnings being relatively immune to LME prices.

Nirmal Bang on IT sector   Nifty IT index underperformed Nifty by a massive 820bps in the December 2018 quarter after five successive quarters of outperformance (see Exhibit 10). The underperformance, in our view, was driven by:  (1) Concerns over revenue growth because of macro-related negative news flow from the US, Europe and China.  (2) The realisation that industry has not met consensus’ modestly elevated growth expectations in FY19, despite having the best demand environment since 2008-09.  (3) Indian rupee or INR appreciation from around Rs74/$ level towards the latter part of the quarter driven by a massive decline in the price of crude oil.  (4) What seemed like subdued commentary from both Accenture and Cognizant Technology Solutions (CTS) on their growth outlook.  (5) Concerns over demand from global BFSI sector because of a flattening yield curve.  (6) Potential softening of demand from manufacturing sector (second-largest sector to which Indian IT companies are exposed) because of tariffs imposed by the US on Chinese goods.  (7) Technically, possible rotation of money towards the Indian financial stocks as the ILFS-related scare receded and 10-year Indian G-sec yield plummeted. We had turned cautious again on the sector on 27 December 2018 after having been ‘tactically positive’ since March 2018  

Vodafone Idea is trading over 2% lower as TRAI's subscriber data showed loss of 73.6 lakh users in October

Top gainers on BSE500 COMPANY PRICE() CHG() CHG(%) VOLUME KNR CONSTRUCT. 227.75 14.50 6.80 25162 PRISM JOHNSON 91.35 3.30 3.75 14773 UJJIVAN FIN.SER. 284.10 9.50 3.46 127688 HATSUN AGROPROD. 647.00 20.40 3.26 340 INFO EDG.(INDIA) 1478.15 43.15 3.01 1610 » More on Top Gainers

HDFC MF pips ICICI Prudential to become India's top asset manager HDFC Mutual Fund has overtaken ICICI Prudential MF to become the country’s largest asset manager, after trailing the latter for more than two years. HDFC MF’s average of assets under management (AUM) stood at Rs 3.35 trillion for the quarter ended December, a rise of 9.3 per cent over the previous three-month period. Those of ICICI Prudential MF, on the other hand, slipped nearly one per cent to Rs 3.08 trillion, shows data from the Association of Mutual Funds in India. Read more  

NEWS ALERT | L&T Construction bags order worth Rs 1,060 crore.

Market check Index Current Pt. Change % Change   S&P BSE SENSEX 35,930.77 +39.25 +0.11   S&P BSE SENSEX 50 11,302.51 +12.38 +0.11   S&P BSE SENSEX Next 50 32,758.97 +114.71 +0.35   S&P BSE 100 11,094.89 +15.88 +0.14   S&P BSE Bharat 22 Index 3,455.35 -8.06 -0.23