Closing Bell

Sensex, Nifty end with moderate gains

Equity market indices ended with moderate gains taking positive cues from other Asian markets.

Sectors such as Banking, Capital Goods, Financial Services, FMCG and Metal sectors achieved moderate gains, while, the IT sector bucked the overall strong trend and ended in the negative territory. The BSE IT index declined 132 points or 0.81% at 16,121.70.

Earlier in the day, stock indices showed volatile movement as the domestic equity benchmark BSE Sensex dropped over 150 points touching an early low of 36,784.47, but immediately recovered to touch an intraday high of 37,244.08. The Sensex ended at 37,145.45, up 163.68 points or 0.44% from its previous close.

During the last week, the Sensex lost 351.02 points or 0.94 per cent.

Similarly, the NSE Nifty too fell to a low of 10,889.80 initially, but soon recovered and steadily moved up before closing at 11,003.05, up 56.85 points.

Bourses will be closed on Tuesday for ‘Muharram’.

Equity markets would track announcement of some key macroeconomic data points for further cues. Investors would watch out for industrial production, inflation number and manufacturing production data scheduled to come on Thursday for further cues.

Autos rally despite poor August sales

Auto stocks ended higher after opening weak. The sentiment turned negative initially as auto sales shrunk further during the month of August.

The NSE Auto index which touched a low of 6,992.85 at open, managed to steadily recover its losses as the trading progressed and ended higher by 62.90 points at 7,165.35.

The automobile sales shrunk further during the month of August, a prolonged timeframe as consumer sentiments are still weak when it comes to purchasing a new vehicle.

INDEX WATCH - SEPT 9, 2019

Nifty Call: Buy on dips with stop loss at 10,980

Nifty 50 September Futures (11,041)

The Nifty opened marginally lower on Monday, but it recovered quickly and moved past its previous session’s close. The index has gained 0.6 per cent in today’s session and is trading above the psychological level of 11,000.

READ MORE

Rupee rises 14 paise to 71.58 against dollar

The rupee appreciated by 14 paise to 71.58 against the US dollar on Monday as China’s easing move and rate cut hopes by the US Fed enthused investors.

READ MORE

At the interbank foreign exchange, the rupee opened weak at 71.65.

Balkrishna Paper, Cybertech Systems and Apollo Micro top gainers in BSE 'B' group

Balkrishna Paper Mills, Cybertech Systems & Software Ltd, and Apollo Micro Systems Ltd are among the other gainers in the BSE's 'B' group today.

Balkrishna Paper Mills Ltd spiked 19.82% to Rs 26.3 at 2.15 pm. The stock was the biggest gainer in the BSE's 'B' group. On the BSE, 34,520 shares were traded on the counter so far as against the two-week average quantity of 58,000 shares.

Cybertech Systems & Software Ltd surged 20% to Rs 58.05 on the BSE today. On the BSE, 37,000 shares were traded on the counter so far as against the 2-week average quantity of 2,158 shares traded in the exchange.

Apollo Micro Systems Ltd jumped 10.65% to Rs 94.05. It touched an intraday high of Rs 98.25 On the BSE, 33,000 shares were traded on the counter so far as against the two-week average quantit;y of 4,686 shares trade on the BSE.

Shankara Building shares surge 17.50%

Shankara Building Products jumped 17.50% to Rs 431.90 on the NSE today, extending recent rally amid strong buying support.  On the NSE, over 14.86 lakh shares were traded as at 1.55 p.m.

Shares of Shankara Building Products surged 67% in four trading sessions to its current market price, from a recent closing low of Rs 258.35 on September 3, 2019.

India Ratings and Research (Ind-Ra) downgraded Shankara Building Products' (SBPL) long-term issuer rating to 'IND A-' from 'IND A'. The outlook was stable.

Shankara Building graph

Somany Ceramics shares tumble 20%

The stock of Somany Ceramics was battered down 20% to Rs 228.70 on the NSE today after the company said that a cheque of Rs 26 crore issued in its favour by company’s stock-broker Mentor Financial Services has bounced owing to insufficient funds.  The company has issued demand notices for repayment to mentor, its directors and its authorised signatory as per requirements of the applicable law.

In view of continued default by Mentor Financial Services, its directors and its authorised signatory, the company has now filed a criminal complaint with Haryana Police Station against the aforementioned parties.

BSE SECTORAL INDICES

BSE SECTORAL INDICES

Muthoot Finance gains 2 per cent

The stock of Muthoot Finance rsoe 2 per cent to Rs 597.10 on the NSE today after the g old loan lender Muthoot Finance , which is bearing the brunt of the strike by a section of workers in Kerala, has scotched rumours of closing down of its branches outside the State. The company said that “such reports are purely untrue, baseless and with mala fide intention by some unethical players”.

Nifty Call: Buy on dips with stop loss at 10,980

Nifty 50 September Futures (11,041)

The Nifty opened marginally lower on Monday, but it recovered quickly and moved past its previous session’s close. The index has gained 0.6 per cent in today’s session and is trading above the psychological level of 11,000.

READ MORE

The stock of Varun Beverages was down marginally by Rs 2.55 or 0.40% at Rs 623.75 on the NSE today. The company had raised Rs 900 crore through qualified institutional placement. The company sold 1.47 crore shares at an average price of Rs 612 a share in the sale that opened September 3 and closed September 6.

Varun Beverages is likely to use the proceeds for investments in units, repaying debts and for acquisitions, if any, according to the terms of the deal.

Auto stocks buck overall positive trend

Auto index slid today on the back of  selling pressure in auto stocks. The sentiment turned negative as auto sales shrunk further during the month of August. The passenger car sales declined by 41 per cent year-on-year (YoY) in August to 1,15,957 units as compared with 1,96,847 units in the same month last year.

The S&P BSE Auto index lost nearly 0.20% at 15,924.07 today.

It’s time to add gold ETFs to your portfolio

No doubt, gold exchange traded funds and world gold funds are glittering right now. The current turbulence being witnessed in the global and domestic equity and debt markets pushed the investors around the globe towards gold as a safe haven bet.

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Shilpa Medicare stock climbed 5.66% to Rs 274.50 today after the company had said it has received two observations for formulation plant in Telangana by the USFDA.

The company also said that there were no repeat observations or data integrity related observations.

Balmer & Lawrie stock gains on bonus proposal

The stock of Balmer & Lawrie was up 1.40% at Rs 167.80 on the NSE today after the company's board had annnounced that it would consider bonus share issue on September 17.

BSE BASIC MATERIALS CHART

Nifty September Futures Contract

The country's foreign exchange reserves fell by USD 446 million to USD 428.604 billion in the week to August 30, mainly on account of a drop in foreign currency assets, RBI data showed on Friday. In the previous week, the reserves declined by a steep USD 1.45 billion to USD 429.050 billion.

The reserves had touched a life-time high of USD 430.572 billion in August this year. In the week to August 30, foreign currency assets, a major component of overall reserves, declined by USD 1.124 billion to USD 396 billion.

BSE SECTORAL INDICES

BSE SECTORAL INDICES TABLE

Index Outlook: Indices rebound from a significant base

In the coming truncated week, the key bellwether indices will remain choppy and look for direction from the global markets. READ MORE

A slowdown can be a good time to invest

During turbulent times, it can be difficult to convince investors to invest. But the opportunity to invest in the market is high during such periods, said speakers during a discussion on “financial planning during turbulent times”.

Organised by The Hindu BusinessLine, in association with Aditya Birla Sun Life Mutual Fund (ABSLMF) in Coimbatore on Friday, this Surge Conclave was the second in the series. Read more

Pharma sector: Signs of recovery

The past few years have been challenging for Indian pharma companies due to strong regulatory headwinds, coupled with pricing pressure in key markets. However, there are some signs of recovery in the overall performance of pharma companies. READ MORE

TOP GAINERS ON BSE

TOP GAINERS ON BSE

Is it a good time to start investing in sugar stocks?

Better prices and lower inventory carrying cost make fundamentally strong stocks a good choice, says our analyst RAJALAKSHMI NIRMAL

READ MORE

Equitas Holdings could be in for a rough ride; stock down over 5%

Equitas Holdings---the holding company of Equitas Small Finance Bank—could be in for a rough ride.

READ MORE

EQUITAS HOLDINGS PRICE ON NSE

Auto industry body to share report card on August sales today

With market leaders like Maruti Suzuki in passenger cars and Hero MotoCorp for two wheelers feeling the strain of slowdown, the overall data of automobile sales during August may show another month of depression.

Society of Indian Automobile Manufacturers will be sharing the sales report shortly at 11 am today, and the whole picture will come into the light, but as individual companies had already shared their numbers in the beginning of the month that indicated poor sales. Read more here

Sensex, Nifty slip in cautious trade

Equity markets would track announcement of some key macroeconomic data points for further cues. Investors would watch out for industrial production, inflation number and manufacturing production data scheduled to come on Thursday for further cues.

Bourses will be closed on Tuesday for ‘Muharram’.

The Sensex was quoted at 36,880.13, down by 101.64 points from its previous close.

The NSE Nifty too was trading at 10,913.70, down by 32.50 points from its previous close.

NSE SECTORAL INDICES

NSE SECTORAL INDICES TABLE

Stock market indices declined today taking cues from cautious Asian markets such as Nikkei and Hang Seng.  Markets will be looking at industrial production data and manufacturing production number. These two numbers followed by inflation would set some tone for the next move.

After opening slightly lower at 36,969.48, the Sensex immediately fell to a low of 36,784.47, before being quoted at 36,801.68, down by 180.09 points from its previous close.

The NSE Nifty too fell to a low of 10,890.85, before trading at 10,903.60, down by 42.60 points from its previous close.

Sectoral indices such as Banking, Auto, Financial Services, and Metal lost between 0.50 and 1.25 per cent.

NIFTY GAINERS AND LOSERS

Stock indices edge lower at Pre-Open

Stock markets edged lowe at pre-open session. While the BSE Sensex was down 12.29 points at 36.969.48, the Nifty has shed 9 points at 10,936.70.

Asian stocks edge up as weak data lift stimulus hopes

Asian stocks tip-toed higher on Monday amid a cautious market mood as investors hoped for stimulus to support growth in the world's major economies.

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FPIs pull out  ₹1,263 cr in first week of September despite surcharge reversal

Continuing their selling spree, foreign investors withdrew a net sum of ₹1,263 crore from the Indian capital markets in the first week of September amid global headwinds even as the government rolled back enhanced surcharge on FPIs.

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FPIs invested a net Rs 2,096.38 crore in the debt securities.