Closing Bell

After opening marginally higher, the Sensex was choppy during the day, and traded below the 35,000 mark. The index had moved between a high of 35,123 and a low of 34,811, before finally settling at 34,950.92, down 60.73 points from the previous close of 35,011.65.

The NSE Nifty, too, stayed in the negative terrain through the session and hit a low of 10,477, before finishing at 10,528.20, down by 24.80 points, or 0.25 per cent.

TOP GAINERS ON NSE

 

TOP LOSERS ON NSE

TOP LOSERS ON NSE

NSE SECTORAL INDICES

NSE SECTORAL INDICES

 

NTPC hits over 3-month low

Shares of power producer NTPC Ltd fall as much as 3.99 per cent to Rs 151.70 intraday , their lowest since July 26. It ended lower by 2.72% at Rs 1533.60 on the BSE today.

The power producer's Q2 profit fell marginally to Rs 2,426 crore, missing analysts estimates, even as its total expenses rose 17.5 per cent to Rs 19,851 crore.

HSBC says that NTPC's Q2 earnings were hurt on coal shortage driven by under-recoveries but the company management expects that the situation would improve in H2. The analysts retain the target price of Rs 210

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Torrent Pharma stock fell today after it reported lower net proift though its Consolidated revenue grew by 33.7% year-on-year to Rs  1,894 crore. The revenues were driven by growth across geographies. India and US business (including acquired business) showed a healthy 34% YoY growth at Rs 816 crore and 54% YoY growth at Rs 394 crore respectively. 

The company's PAT for the quarter fell 12.3% YoY to Rs 179 crore, dented by higher depreciation, product recall and lower hedging gains.

Torrent stock was down by Rs 26.25 or 1.60% at Rs 1,604.10 on the BSE

 

 

The stock of Strides Pharma gained over 2 per cnet after the company said that USFDA has completed inspection of Bangalore facility.

Strides Pharma Science announced the completion of inspection by the U.S.FDA at its flagship facility in Bangalore with zero Form 483 observations.

 

Maruti Suzuki India stock traded firm today after the company reported that it has sold 138,100 units in October this year as compared to 136,000 units dispatched in the same month a year ago, witnessing a growth of 1.5%. The stock was up by Rs 46 at 7,182.55 on the BSE today.

 

State Bank of India  has put up 11 non-performing assets (NPAs) for sale to ARCs and financial companies to recover dues of nearly INR 10.19bn through an e-auction which will take place on November 22. Of these 11 accounts, Janki Corp Ltd has the highest outstanding dues of INR 5.93bn. Among others, Venus Remedies Ltd has to repay INR 830mn, SBS Transpole Logistics Pvt Ltd INR 633.6mn, R S Luth Education Trust INR 606.2mn, Nilachal Iron & Power Ltd INR 524.1mn and Sri Balmukund Polyplast INR 501.2mn.

SBI was up 1.65% at Rs 290.15 on the BSE today.

 

 

Adani Transmission stock traded stronger today gaining nearly 2 per cent after the company has signed an agreement to buy the entire stake in  KEC International 's Rajasthan-based power transmission arm at an enterprise value of Rs 228 crore.

 

PSU bank stocks get a leg up

Most of PSU banking stocks went up today on reports that the Finance Ministry is likely to finalise the second round of capital infusion for public sector banks (PSBs) towards the end of this month or by the end of the first half of next month, taking into account the latest quarter's performance. In this round of fund infusion, most of the banks would be getting growth capital for expanding their lending, particularly to micro, small and medium enterprises (MSMEs).

The PSU bank index on the NSE was up 1.55 per cent at 2,968.40 today.

The stock of SBI was up 1.65% at Rs 290.15, Indian Bank gained 1.61% at Rs 252, Union Bank climbed over 4.50% at Rs 79.20 and UCO Bank surged 13.25% at Rs 20.90.

PSU BANK STOCKS

 

Markets continued to show weakness on the back of selling by traders and investors alike. The sentiment has turned negative after the rupee lost over 60 paise against the dollar. The Sensex was down 144.28 points at 34,866.37. The Nifty too was down by 60 points at 10,492.30.

 

 

Sun TV Network falls over 6%

Broadcast services provider Sun TV Network Ltd falls as much as 6.3 per cent to Rs 621.55, in its biggest intraday fall since September 21

The company's September-quarter profit jumped 23.4 per cent  to Rs 351 crore, with subscription revenue up over 21 per cent.

Advertising revenue grew only 3 per cent, hurt by Kerala floods, timing of the festival season and impact from the death of a former chief minister of the state.

According to Citi analysts, the loss of market shares does seem to have an impact on the effective rate increases, as management targets early teens ad growth in H2.

Citi maintains “buy” rating with a price target of Rs 830.

 

 

SAIL falls over 5% as Q2 profit misses estimates

Shares of state-owned Steel Authority of India Ltd 's fell as much as 5.1 per cent to Rs 66, their biggest percentage loss since October 5.

At about 12.50 pm, the stock was quoting at Rs 66.50, still down Rs2.95 or 4.25 per cent on the BSE.

On Friday, the company reported a net profit of Rs 554 crore for the September quarter, compared with a loss of Rs 539 crore last year.

The company missed analysts’ estimates of Rs 829 crore by a huge margin, according to Refinitiv data. Total expenses rose about 13 per cent to Rs 15,950 crore.

Jefferies has cut the company’s price target to Rs 62 from Rs 69 and maintained ‘underperform’.

 

 

Automotive Axles : Well-assembled - Buy

The sharp correction in stock price presents a good buying opportunity for investors

Automotive Axles intraday chart

 

Bright prospects for Havells India

Diversified product mix, within industrial as well as consumer segment, is a big positive

Havells India stock

 

The report of Services PMI , which was seen rising in October, doesn't cheer the markets in the mid-session. The BSE still trades well below the yesterday's closing level of 35,011.65. The Sensex was down by 102 points at 34,190.10, while the Nifty has shed 44 points at 10,509.05.

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Services PMI climbs to 52.2 in Oct

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Services followed manufacturing in October, a survey result revealed on Monday. The Nikkei India Purchasing Managers’ Index (PMI) rose to 52.2 in October, up from 50.9 recorded in September. This is the fifth successive month of expansion. This index is prepared on the basis of survey conducted among purchasing managers of over 400 private companies.

 

Oil and Gas stock met with selling pressure after the United States reimposed punitive measures targeting the Iranian oil and financial sectors.  Taking effect from today, the measures are the most concrete result yet of US President Donald Trump’s controversial decision in May to abandon the multi-nation nuclear deal with Tehran. The decision will directly affect companies from third countries doing business with Iran. They could upset world oil markets.

 

 

 

 

 

Markets were trading in the negative terrain today following weakness in banking, Oil & Gas , Capital Goods and Consumer Durables stocks. The BSE Sensex was at 34,872.76, down by 153.85 points. The Nifty also was down by 54 points at 10,499.

 

 

 

 

 

NEW 52 WEEK HIGHS

NEW 52 WEEK LOWS

 

Fresh bouts of selling in Oil & Gas , Banking , IT and industrial has pushed the markets further lower. On the BSE, the Sensex declined 175 points at 34,835.59. The Nifty too was down 62 points at 10,490.85.

 

Rupee falls 48 paise against dollar

The rupee depreciated 48 paise to 72.91 against the US dollar in early trade at the interbank forex market Monday on foreign fund outflows.

The rupee opened lower at 72.76 against the dollar, and dropped further to quote 72.93. It ended at 72.45 versus the dollar on Friday

Traders said increased demand for the US currency from importers and losses in the domestic equity market weighed on the rupee.

Besides, the dollar trading higher against some currencies overseas too put pressure on the rupee, they added.

 

Top Losers Next 50

Top Gainers Next 50

 

 

TOP GAINERS AND LOSERS ON NSE, BSE

NSE GAINERS

NSE LOSERS

Top Losers on NSE

 

 

Markets were down today after banking, financials and oil & gas stocks declined amidst moderate gains in Auto, IT and Capital goods stocks

The benchmark Sensex slipped below the 35,000-mark by dropping over 100 points to 34,911.11 initially and the 30-share index was now quoted lower by 96.90 points, or 0.30 per cent, at 34,905.75. The gauge had rallied nearly 580 points Friday.

The NSE Nifty, too, was trading 36.15 points, or 0.34 per cent, lower at 10,516.85.

Sectoral indices, led by power, metal, banking and auto stocks, were trading in the negative terrain, falling by up to 1.44 per cent.

Largecap Stocks

 

Axis Bank rises as Q2 profit beat estimates

Shares of Axis Bank  rise as much as 3.4 per cent to Rs 631.3, their highest since September 21.

The private sector lender Axis Bank on Friday posted a better-than-expected 82.6 per cent jump in Q2 profit, boosted by higher interest income and as asset quality improved.

Axis Bank Q2 net surges 83%

 

Indian Oil Corp shares fall most in a month

Shares of the country's top refiner,  Indian Oil Corporation Ltd  , down as much as 4.30 per cent to Rs 141.85 rupees, biggest daily per cent fall since October 5

 

 

Top Gainers on NSE

Top Losers on NSE

 

 

Rupee down 39 paise

The rupee depreciated 39 paise to 72.84 against the US dollar in early trade at the interbank forex market Monday on foreign fund outflows.

The rupee opened lower at 72.76 per dollar against previous close of 72.45 and dropped further to quote 34 paise down at 72.79 in opening trade. It ended on Friday at 72.45 against the dollar.

Traders said increased demand for the US currency from importers and losses in the domestic equity market weighed on the rupee.

Besides, the dollar trading higher against some currencies overseas too put pressure on the rupee, they added.

 

 

Markets were down marginally in early trading session after banking, financials and oil & gas stocks declined amidst moderate gains in Auto, IT and Capital goods stocks

The benchmark Sensex slipped below the 35,000-mark by dropping over 100 points to 34,911.11 initially and the 30-share index was now quoted lower by 68.90 points, or 0.20 per cent, at 34,942.75. The gauge had rallied nearly 580 points Friday.

The NSE Nifty, too, was trading 23.10 points, or 0.22 per cent, lower at 10,529.90.

 

 

Why the RBI’s move to allow banks to provide PCE to NBFCs bonds offers little respite

In a bid to ease the liquidity concerns faced by non-banking finance companies (NBFCs) and housing finance companies (HFCs), the RBI has allowed banks to offer partial credit enhancement (PCE) to bonds issued by some of them.

On the NSE, the stock of Bajaj Finserv was up 1.77% at 5,623, M&M Finance was trading flat at Rs 431.50, Shriram Transport Finance edged lower by 0.30% at Rs 1,245.80 and Edelweiss was down 2.15% at Rs 170.50

The Nifty, on the NSE, too has shed 22 points at 10,530 in early trades. On the Nifty, the declining scrips were higher at 28 and the advaners were at 21, with 1 scrip remain unchanged from its previous close.

 

Banking stocks were down in early trades on the back of moderate selling pressure. The BSE Bankex was down 80 points at 28,935.62.

BANKING STOCKS

 

The BSE Finance sectoral index was down 16 points at 5,566.11 in early trades today.

RBI throws a lifeline to NBFCs, housing finance companies

 

 

The BSE Sensitive index opened 106 points higher, but immediately gave up its gains and was now traded at 34,956, down by 91 points from the previous close of 34,920.65.

Large-cap stocks

 

Sensex traded 106 points higher at the pre-open session

 

India Inc’s earnings growth falters

A spate of poor results last week has derailed India Inc’s profit growth in the September 2018 quarter. The combined profits of about 940 listed companies are up just about 3 per cent year-on-year, against 12.5 per cent y-o-y in the June 2018 quarter. Read more on this

Sterling hits 2-week peak on smooth Brexit hopes; Asian shares wobble

In equities, MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.2 per cent in early trades but was well off a one had a half year trough touched last week. Japan's Nikkei stumbled 1.3 per cent while South Korea's KOSPI index dipped 0.8 per cent. Australian shares were in the negative territory too, down 0.5 per cent .

US stock futures were down 0.4 per cent after Wall Street closed in the red on Friday on concerns a trade deal between the United States and China may not be struck soon. Read more on this

 

 

5 picks for Samvat 2075

Wondering where to invest this Muhurat session ? Here are 5 evergreen stocks that have delivered consistently in the past and will make your core portfolio sparkle.

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Your Stock Portfolio: Tata Motors to shift gears

A break above ₹205 will strengthen the up-move and take the Tata Motors stock up to ₹250

Here are answers to readers’ queries on the performance of their stock holdings. Read more on this

 

Weekly Trading Guide

SBI (₹285.4)

SBI skyrocketed 15 per cent last week. The stock tested the ₹290-292 resistance region on Friday and has come-off slightly after making a high of ₹292.65. As long as it trades below ₹292, an intermediate dip to ₹280 or ₹276 cannot be ruled out. Key supports are at ₹279 and ₹276. A strong break below ₹276 can drag SBI initially to ₹268.  Read more on this

 

 

 

Index Outlook: Indices bring cheer ahead of Diwali

 

The bullish global cues, coupled with the appreciating rupee and fall in crude oil price, have cheered the bulls and lifted the sentiment for the domestic equity market. The Nifty as well as the Sensex surged 5 per cent each last week, due to upbeat global factors and value-buying at lower levels. Read more