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Market recovers from day's low to end with minor losses
(15:31, 15 May 2020)

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Key-equity-indices-ended-a-volatile-session-with-marginal-losses-on-Friday.-Barring-metal-stocks,-selling-pressure-was-broad-based-with-banks,-auto-and-pharma-stocks-losing-the-most.-Global-shares-were-upbeat-on-Friday-as-data-showed-China's-industrial-output-bouncing-back-in-April.

As-per-provisional-closing,-the-barometer-S&P-BSE-Sensex-fell-25.16-points-or-0.08%-at-31,097.73.-The-Nifty-50-index-lost-16.4-points-or-0.15%-at-9,129.40.

The-Nifty-opened-higher-at-9,182.40,-but-soon-pared-gains-in-early-trade.-The-index-hit-an-intraday-low-of-9050-in-mid-morning-trade.-A-recovery-was-seen-in-afternoon-session-tracking-positive-sentiment-from-European-markets.-The-Nifty-bounced-back-and-hit-the-day's-high-of-9,182.40-in-mid-afternoon-trade.-The-index-closed-below-9150-level-due-to-selling-in-late-trade.

In-the-broader-market,-the-S&P-BSE-Mid-Cap-index-fell-0.31%-while-the-S&P-BSE-Small-Cap-index-declined-0.16%.

The-market-breadth-was-negative.-On-the-BSE,-1086-shares-rose-and-1229-shares-fell.-A-total-of-178-shares-were-unchanged.-In-Nifty-50-index,-22-stocks-advanced-while-28-stocks-declined.

Buzzing-Index:

The-Nifty-Bank-index-declined-1.16%-to-18,847,-losing-for-second-consecutive-trading-session.-The-index-has-lost-4%-in-two-days.

Federal-Bank-(down-3.41%),-Bandhan-Bank-(down-3.26%),-Axis-Bank-(down-3.11%),-RBL-Bank-(down-2.78%),-IndusInd-Bank-(down-2.08%)-and-ICICI-Bank-(down-1.31%)-were-top-losers-in-private-bank-space.

Bank-of-Baroda-(down-3.36%),-Canara-Bank-(down-2.95%),-Punjab-National-Bank-(down-1.71%),-SBI-(down-1.01%),-Bank-of-India-(down-0.89%)-and-UCO-Bank-(down-0.85%)-were-top-losers-in-PSU-bank-segment.

Q4-Results-Today:

Cipla-(up-0.1%),-IIFL-Securities-(up-3.67%),-Crompton-Greaves-Consumer-(down-0.29%),-L&T-Finance-Holdings-(down-1.29%),-L&T-Techonology-Services-(down-4.03%),-Nippon-Life-India-(down-0.45%),-Mahindra-&-Mahindra-Finance-(up-0.3%)-and-Tasty-Bite-Eatables-(down-1.6%)-are-some-of-the-companies-that-will-announce-their-quarterly-results-today.

Earnings-Impact:

Biocon-fell-1.15%-after-consolidated-net-profit-declined-42.3%-to-₹-123.40-crore-on-a-3.4%-rise-in-net-sales-to-₹-1581-crore-in-Q4-March-2020-over-Q4-March-2019.-Consolidated-EBITDA-stood-at-₹-382-crore-in-Q4-March-2020,-declining-11%-from-₹-431-crore-in-the-same-period-last-year.-EBITDA-margin-slipped-to-23%-in-Q4-March-2020-from-28%-reported-in-Q4-March-2019.

Manappuram-Finance-rose-2.85%-after-net-profit-rose-43.68%-to-₹-394.97-crore-on-38.72%-increase-in-total-income-to-₹-1,618.15-crore-in-Q4-March-2020-over-Q4-March-2019.-Profit-before-tax-stood-at-₹-534.07-crore-in-Q4-March-2020,-up-by-30.4%-from-₹-409.41-crore-in-Q4-March-2019.-Net-interest-income-rose-33.3%-to-1024.52-crore-during-the-period-under-review.-The-company's-consolidated-assets-under-management-(AUM)-rose-29.8%-to-₹-25,225-crore-in-FY20-from-₹-19,438-crore-in-FY19.

Tata-Consumer-Products-fell-2.08%-after-consolidated-group-net-loss-stood-at-₹-122-crore-in-Q4-March-2020-as-compared-to-a-net-profit-of-₹-36-crore-in-Q4-March-2019.-The-company-reported-exceptional-loss-of-₹-264-crore-during-the-quarter.-Higher-exceptional-items-mainly-includes-costs-related-to-merger-of-India-foods-business-and-non-cash-impairment-loss-on-goodwill-relating-to-the-business-in-Australia-and-tea-business-in-the-US.-The-accounting-impairment-has-been-recognised-due-to-a-combination-of-factors-like-COVID-related-impact-on-specific-out-of-home-business-segments,-changes-to-discount-rates-due-to-market-conditions-and-revision-in-business-plan-sensitivities.

Mahindra-Lifespace-Developers-declined-0.9%-after-reporting-consolidated-net-loss-of-₹-223.9-crore-in-Q4-March-2020-compared-with-net-profit-of-₹-31.27-posted-in-Q4-March-2019.-Net-sales-dropped-56.7%-to-₹-101.42-crore-in-Q4-March-2020-from-₹-234.27-crore-posted-in-Q4-March-2019.-The-realtor-reported-a-pre-tax-loss-of-₹-229.45-crore-in-Q4-March-2020-over-a-pre-tax-profit-of-RS-35.65-crore-in-Q4-March-2019.-The-company-reported-an-exceptional-loss-of-₹-134-crore.-Mahindra-Homes-(MHPL),-a-joint-venture-of-the-company,-is-executing-residential-projects-at-NCR-and-Bengaluru.-The-residential-project-in-NCR-is-a-joint-development-with-the-landowner.

Stocks-in-Spotlight:

Shares-of-two-multiplex-chain-operators-INOX-Leisure-and-PVR-fell-over-4%-each-after-INOX-on-Thursday-expressed-its-disappointment-over-the-decision-of-a-production-house-to-release-their-movie-directly-on-an-over-the-top-(OTT)-platform.-

INOX,-in-a-statement-issued-on-Thursday-(14-May-2020)-said:-INOX-would-like-to-express-extreme-displeasure-and-disappointment-on-an-announcement-made-by-a-production-house-to-release-their-movie-directly-on-an-OTT-platform-by-skipping-the-theatrical-window-run.-The-decision-of-production-house-to-deviate-from-the-globally-prevalent-content-windowing-practice-is-alarming-and-disconcerting.-It-added-that-the-chain-reserves-all-rights,-including-taking-retributive-measures-against-such-'fair-weather-friends.'

Alembic-Pharmaceuticals-rose-3.47%-after-the-company-said-it-received-US-drug-regulator's-final-approval-for-doxycycline-hyclate-tablets-USP,-100-mg.-The-approved-ANDA-is-therapeutically-equivalent-to-the-reference-listed-drug-product-(RLD)-Vibra-Tabs,-100mg-of-Pfizer,-Inc.-This-medication-is-used-to-treat-a-wide-variety-of-bacterial-infections,-including-those-that-cause-acne.-This-medication-is-also-used-to-prevent-malaria.-The-drug-has-an-estimated-market-size-of-$53-million-for-twelve-months-ending-December-2019-according-to-IQVIA.

J.-Kumar-Infraprojects-added-3.21%-after-the-construction-major-declared-that-it-has-secured-a-contract-for-the-construction-of-part-design-and-construction-of-Andheri-(East)-Dahisar-(East)-corridor-of-Mumbai-Metro-Rail-Project-of-MMRDA.-The-disclosure-was-made-during-market-hours-today,-15-May-2020.

Global-Markets:

European-markets-were-trading-higher-while-most-Asian-markets-closed-on-a-positive-note-as-data-released-by-China-showed-industrial-output-bounced-back-in-April.-

China's-industrial-output-rose-3.9%-in-April-from-a-year-earlier,-improving-from-a-1.1%-fall-in-March,-according-to-data-released-Friday-by-the-country's-National-Bureau-of-Statistics.-This-marks-the-first-expansion-in-the-metric-for-this-year-from-China.

The-US-equity-market-finished-volatile-session-higher-on-Thursday,-14-May-2020,-snapping-a-two-sessions-losing-streak,-led-by-a-resurgence-for-some-of-the-recent-beaten-down-stocks.

The-reversal-for-stocks-came-after-the-U.S.-Labor-Department-released-its-weekly-initial-jobless-claims-report.-Another-2.981-million-Americans-filed-for-unemployment-benefits-in-the-week-ending-May-9.-The-prior-week's-figure-was-revised-higher-to-3.18-million-from-the-previously-reported-3.17-million-jobless-claims.

However,-market-gains-capped-amid-weak-economic-data-and-as-of-warning-from-the-U.S.-Federal-Reserve's-chairman-for-an-extended-period-of-weak-economic-growth.-At-closing-bell,-the-Dow-Jones-Industrial-Average-rose-1.62%,-to-23,625.34-while-The-S&P-500-added-1.15%-to-end-at-2,852.50.

U.S.-President-Donald-Trump-on-Thursday-said-he-was-disappointed-with-China-over-its-failure-to-contain-the-coronavirus,-and-that-the-pandemic-cast-a-pall-over-his-U.S.-China-trade-deal.-His-comments-stoked-concerns-about-renewed-U.S.-China-trade-tensions.

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Key-equity-indices-ended-a-volatile-session-with-marginal-losses-on-Friday.-Barring-metal-stocks,-selling-pressure-was-broad-based-with-banks,-auto-and-pharma-stocks-losing-the-most.-Global-shares-were-upbeat-on-Friday-as-data-showed-China's-industrial-output-bouncing-back-in-April.

As-per-provisional-closing,-the-barometer-S&P-BSE-Sensex-fell-25.16-points-or-0.08%-at-31,097.73.-The-Nifty-50-index-lost-16.4-points-or-0.15%-at-9,129.40.

The-Nifty-opened-higher-at-9,182.40,-but-soon-pared-gains-in-early-trade.-The-index-hit-an-intraday-low-of-9050-in-mid-morning-trade.-A-recovery-was-seen-in-afternoon-session-tracking-positive-sentiment-from-European-markets.-The-Nifty-bounced-back-and-hit-the-day's-high-of-9,182.40-in-mid-afternoon-trade.-The-index-closed-below-9150-level-due-to-selling-in-late-trade.

In-the-broader-market,-the-S&P-BSE-Mid-Cap-index-fell-0.31%-while-the-S&P-BSE-Small-Cap-index-declined-0.16%.

The-market-breadth-was-negative.-On-the-BSE,-1086-shares-rose-and-1229-shares-fell.-A-total-of-178-shares-were-unchanged.-In-Nifty-50-index,-22-stocks-advanced-while-28-stocks-declined.

Buzzing-Index:

The-Nifty-Bank-index-declined-1.16%-to-18,847,-losing-for-second-consecutive-trading-session.-The-index-has-lost-4%-in-two-days.

Federal-Bank-(down-3.41%),-Bandhan-Bank-(down-3.26%),-Axis-Bank-(down-3.11%),-RBL-Bank-(down-2.78%),-IndusInd-Bank-(down-2.08%)-and-ICICI-Bank-(down-1.31%)-were-top-losers-in-private-bank-space.

Bank-of-Baroda-(down-3.36%),-Canara-Bank-(down-2.95%),-Punjab-National-Bank-(down-1.71%),-SBI-(down-1.01%),-Bank-of-India-(down-0.89%)-and-UCO-Bank-(down-0.85%)-were-top-losers-in-PSU-bank-segment.

Q4-Results-Today:

Cipla-(up-0.1%),-IIFL-Securities-(up-3.67%),-Crompton-Greaves-Consumer-(down-0.29%),-L&T-Finance-Holdings-(down-1.29%),-L&T-Techonology-Services-(down-4.03%),-Nippon-Life-India-(down-0.45%),-Mahindra-&-Mahindra-Finance-(up-0.3%)-and-Tasty-Bite-Eatables-(down-1.6%)-are-some-of-the-companies-that-will-announce-their-quarterly-results-today.

Earnings-Impact:

Biocon-fell-1.15%-after-consolidated-net-profit-declined-42.3%-to-₹-123.40-crore-on-a-3.4%-rise-in-net-sales-to-₹-1581-crore-in-Q4-March-2020-over-Q4-March-2019.-Consolidated-EBITDA-stood-at-₹-382-crore-in-Q4-March-2020,-declining-11%-from-₹-431-crore-in-the-same-period-last-year.-EBITDA-margin-slipped-to-23%-in-Q4-March-2020-from-28%-reported-in-Q4-March-2019.

Manappuram-Finance-rose-2.85%-after-net-profit-rose-43.68%-to-₹-394.97-crore-on-38.72%-increase-in-total-income-to-₹-1,618.15-crore-in-Q4-March-2020-over-Q4-March-2019.-Profit-before-tax-stood-at-₹-534.07-crore-in-Q4-March-2020,-up-by-30.4%-from-₹-409.41-crore-in-Q4-March-2019.-Net-interest-income-rose-33.3%-to-1024.52-crore-during-the-period-under-review.-The-company's-consolidated-assets-under-management-(AUM)-rose-29.8%-to-₹-25,225-crore-in-FY20-from-₹-19,438-crore-in-FY19.

Tata-Consumer-Products-fell-2.08%-after-consolidated-group-net-loss-stood-at-₹-122-crore-in-Q4-March-2020-as-compared-to-a-net-profit-of-₹-36-crore-in-Q4-March-2019.-The-company-reported-exceptional-loss-of-₹-264-crore-during-the-quarter.-Higher-exceptional-items-mainly-includes-costs-related-to-merger-of-India-foods-business-and-non-cash-impairment-loss-on-goodwill-relating-to-the-business-in-Australia-and-tea-business-in-the-US.-The-accounting-impairment-has-been-recognised-due-to-a-combination-of-factors-like-COVID-related-impact-on-specific-out-of-home-business-segments,-changes-to-discount-rates-due-to-market-conditions-and-revision-in-business-plan-sensitivities.

Mahindra-Lifespace-Developers-declined-0.9%-after-reporting-consolidated-net-loss-of-₹-223.9-crore-in-Q4-March-2020-compared-with-net-profit-of-₹-31.27-posted-in-Q4-March-2019.-Net-sales-dropped-56.7%-to-₹-101.42-crore-in-Q4-March-2020-from-₹-234.27-crore-posted-in-Q4-March-2019.-The-realtor-reported-a-pre-tax-loss-of-₹-229.45-crore-in-Q4-March-2020-over-a-pre-tax-profit-of-RS-35.65-crore-in-Q4-March-2019.-The-company-reported-an-exceptional-loss-of-₹-134-crore.-Mahindra-Homes-(MHPL),-a-joint-venture-of-the-company,-is-executing-residential-projects-at-NCR-and-Bengaluru.-The-residential-project-in-NCR-is-a-joint-development-with-the-landowner.

Stocks-in-Spotlight:

Shares-of-two-multiplex-chain-operators-INOX-Leisure-and-PVR-fell-over-4%-each-after-INOX-on-Thursday-expressed-its-disappointment-over-the-decision-of-a-production-house-to-release-their-movie-directly-on-an-over-the-top-(OTT)-platform.-

INOX,-in-a-statement-issued-on-Thursday-(14-May-2020)-said:-INOX-would-like-to-express-extreme-displeasure-and-disappointment-on-an-announcement-made-by-a-production-house-to-release-their-movie-directly-on-an-OTT-platform-by-skipping-the-theatrical-window-run.-The-decision-of-production-house-to-deviate-from-the-globally-prevalent-content-windowing-practice-is-alarming-and-disconcerting.-It-added-that-the-chain-reserves-all-rights,-including-taking-retributive-measures-against-such-'fair-weather-friends.'

Alembic-Pharmaceuticals-rose-3.47%-after-the-company-said-it-received-US-drug-regulator's-final-approval-for-doxycycline-hyclate-tablets-USP,-100-mg.-The-approved-ANDA-is-therapeutically-equivalent-to-the-reference-listed-drug-product-(RLD)-Vibra-Tabs,-100mg-of-Pfizer,-Inc.-This-medication-is-used-to-treat-a-wide-variety-of-bacterial-infections,-including-those-that-cause-acne.-This-medication-is-also-used-to-prevent-malaria.-The-drug-has-an-estimated-market-size-of-$53-million-for-twelve-months-ending-December-2019-according-to-IQVIA.

J.-Kumar-Infraprojects-added-3.21%-after-the-construction-major-declared-that-it-has-secured-a-contract-for-the-construction-of-part-design-and-construction-of-Andheri-(East)-Dahisar-(East)-corridor-of-Mumbai-Metro-Rail-Project-of-MMRDA.-The-disclosure-was-made-during-market-hours-today,-15-May-2020.

Global-Markets:

European-markets-were-trading-higher-while-most-Asian-markets-closed-on-a-positive-note-as-data-released-by-China-showed-industrial-output-bounced-back-in-April.-

China's-industrial-output-rose-3.9%-in-April-from-a-year-earlier,-improving-from-a-1.1%-fall-in-March,-according-to-data-released-Friday-by-the-country's-National-Bureau-of-Statistics.-This-marks-the-first-expansion-in-the-metric-for-this-year-from-China.

The-US-equity-market-finished-volatile-session-higher-on-Thursday,-14-May-2020,-snapping-a-two-sessions-losing-streak,-led-by-a-resurgence-for-some-of-the-recent-beaten-down-stocks.

The-reversal-for-stocks-came-after-the-U.S.-Labor-Department-released-its-weekly-initial-jobless-claims-report.-Another-2.981-million-Americans-filed-for-unemployment-benefits-in-the-week-ending-May-9.-The-prior-week's-figure-was-revised-higher-to-3.18-million-from-the-previously-reported-3.17-million-jobless-claims.

However,-market-gains-capped-amid-weak-economic-data-and-as-of-warning-from-the-U.S.-Federal-Reserve's-chairman-for-an-extended-period-of-weak-economic-growth.-At-closing-bell,-the-Dow-Jones-Industrial-Average-rose-1.62%,-to-23,625.34-while-The-S&P-500-added-1.15%-to-end-at-2,852.50.

U.S.-President-Donald-Trump-on-Thursday-said-he-was-disappointed-with-China-over-its-failure-to-contain-the-coronavirus,-and-that-the-pandemic-cast-a-pall-over-his-U.S.-China-trade-deal.-His-comments-stoked-concerns-about-renewed-U.S.-China-trade-tensions.

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