Markets Live: Sensex takes a fresh beating; nosedives 344 points

Value buys emerge amid market corrections

The equity market witnessed a perfect storm in the past month. In addition to global macro factors, we saw disruption due to a re-pricing of risk in the credit market, and consequently in the equity markets.

Closing Bell

The benchmark Sensex plunged over 480 points intraday and the broader NSE Nifty slipped below the 10,100 mark on Friday as the November derivatives series took off on a weak note amid negative Asian cues.

The 30-share Sensex, which lost 344 points on Thursday, fell further by 340.78 points, or 1 per cent, to finish at 33,349.31.

All sectoral indices of BSE, led by IT, Consumer Goods, metal, power, realty and bankex traded in the negative territory, falling by up to 2 per cent.

The NSE Nifty too declined by 94.90 points, or 0.94 per cent, and closed at 10,030.00.

On the NSE, Software stock Infosys was down 2.18% at Rs 634.60, TCS was down 3.30% at Rs 1,792, Mindtree slipped 0.87% to Rs 772.90 and Hexaware too was down 2.89% at Rs 322.30

Brokers said despite the beginning of the November futures and options (F&O) series, investors indulged in selling activity, tracking a weak trend at other Asian markets.

Key supports may come into play

Sensex intraday chart

Largecap stocks

BSE IT index

BSE Information Technology stocks

Markets fell further on renewed selling by institutions and traders. Sectors such as IT, Power, Oil & Gas, Banking, Consumer Goods fell between 0.80% to 1.50% on relentless selling amid lack of buying support.

Sectoral indices

Fresh selling from financial insitutions and investors in the afternoon session drove the markets down. The Sensex was trading lower by 208 points and the Nifty has shed 62 points.

Markets get punished again after a brief recovery in the midsession. The Sensex plunged again by 282 points at 33,407, while the Nifty declined 78 points at 10,046.

NSE SECTORAL INDICES

Sectoral indices led by FMCG , IT,Private Bank , realty , infrastructure, Media, oil and gas , Auto , and capital goods, were trading in the negative terrain, falling by up to 1.60 per cent.

BSE SECTORAL INDICES

BSE Sectoral indices

BSE Sectoral indices

Sensex, Nifty remain in negative

The BSE Sensex was quoted lower by 117 points at 33,572.91, while the Nifty too was down 32.45 points at 10,092.45.

Sensex Intraday chart

Largecap stocks

Equitas Holdings, Ujjivan Financial plunge to new lows

Shares of Equitas Holdings Ltd and Ujjivan Financial Services Ltd hit record lows today after the RBI has asked both the companies to comply with the rules and list their small finance banks within three years of commencing operations. Equitas said that it will consider steps to get Equitas Small Finance Bank listed at its board meeting next month, and woudl approach RBI for approval to merge with the company.

Nifty 50 November Futures (10,131)

Taking bearish cues from the Asian markets, the Sensex and the Nifty began the session in negative territory with a gap-down open. However, both the indices started to recover following an initial decline. The benchmark indices have almost trimmed their initial loss and are on the brink of entering the positive territory.

Editorial :

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Airtel international voice call packs are available for most popular travel destinations. File Photo

Markets recouped early losses following recovery in major largecap stocks such as Reliance , Tata Motors , Hero MotoCorp , Tata Steel, Bajaj Auto , SBI and HDFC Bank .

The Sensex was traded at 33,643.63, still down by 46.46 points from yesterdays's closing level. The Nifty too was down 12 points at 10,112.55.

BSE Sensex

Largecap stocks

Shares of JSW Steel met with selling pressure despite the company reported 150% increase in its profit to ₹2,087 crore from ₹836 crore during the second quarter ended September 30, 2018.  Traders and investors seem to have taken as the news of JSW rights issue plan as negative.

The stock of JSW Steel was down 2.30% at Rs 345.30 on the NSE today.

GlaxoSmithKline Consumer Healthcare stock witnessed selling today and the stock was down nearly 2 per cent at Rs 6,863 on the NSE. The Hindu Businessline reported yesterday that GlaxoSmithKline, the UK pharmaceutical giant, is looking to sell a part or all of its 72.5 per cent stake in its Indian subsidiary, GlaxoSmithKline Consumer Healthcare. It started a review this March. Potential bidders include PepsiCo, General Mills and Kellogg, apart from the main contenders Unilever, Nestle and Coca-Cola.

Horlicks holds 49% share of the ₹7,000-cr health food drinks sector

Yes Bank hits 1-month low on lower Q2 profit

Private-sector lender YES Bank missed Q2 profit estimates by a wide berth on Thursday as provisions for bad loans and mark-to-market losses more than doubled.

AT 11.50 am, the stock was quoted at Rs 187.05, down by 5.70%. The stock touched a low of 168.60 intraday.

Auto stocks buck overall weak trend

The BSE Automobile index gained driven by key stocks such as Tata Motors, Hero MotoCorp , Balkrishna Ind , Eicher Motor and Bharat Forge .

BSE Auto index

The BSE Consumer Durables index hogged the limelight today. The index bucked the overall weakness in the market. The index gained 183 points at 18,389.35, driven by PC Jewellers , Titan ,  VIP Ind, and TTK Prestige .

BSE CONSUMER DURABLES INDEX

Welspun India stock traded in the green today on a report that the company's MD  has bought a three-floor sea-facing apartment in an upcoming project of real estate developer Wadhwa Group. The stock was up nearly 3% at Rs 59.25 on the BSE today. In a big ticket size deal, Welspun India managing director Rajesh Mandawewala has bought a three-floor sea-facing apartment in an upcoming project of real estate developer Wadhwa Group for an agreement value of Rs 127 crore.

BSE SECTORAL INDICES

Midcap and Smallcap indices

TOP GAINERS AND LOSERS ON NSE

Equities recovered and wiped off most of the early losses after two hours of trading. Markets got good support from Tata Motors , Bharti Airtel,Titan and Tata Steel .

The BSE Sensex was being traded at 33,609, down by 80.58 points, whille the Nifty was also down by 31 points at 10,093.

Titan shares up; Morgan Stanley hikes price target

Rupee down 11 paise

The rupee weakened to 73.44 against the US dollar in early trade on Friday, amid increased demand of the American currencies from importers and sustained foreign fund outflows.

At 10.35 am, the domestic currency was quoted at 73.38, down by 11 paise compared to its previous close.

The benchmark Sensex plunged over 297 points and the broader NSE Nifty slipped below the 10,100 mark in the opening session on Friday as the November derivatives series took off on a weak note amid negative Asian cues.

The 30-share Sensex rebounded slightly and was trading at 33,561.93, down by 130 points.

Despite the beginning of the November futures and options (F&O) series, investors indulged in selling activity, tracking a weak trend at other Asian markets. Besides, disappointing quarterly earnings by Maruti Suzuki and a few other companies also dampened sentiments.

Maruti Swift tops the passenger vehicle selling list. File Photo

Dish TV up on probe request on unusual trading pattern

Dish TV gained 2% in today's trade after recent fall. The stock was up 2.70% at Rs 37.95 on the BSE.  Yesterday, Subhash Chandra-backed Dish TV has written to SEBI seeking a probe on the unusual trading pattern and the manner of price-hammering of the company’s shares which happened immediately after the company announced its second quarter results.

Oil prices fall as focus switches to oversupply

Oil prices eased on Friday and were heading for a third weekly loss after Saudi Arabia's OPEC governor said the market could be heading into oversupply, as growth concerns took a hit with a slump in global equities this week.

U.S. crude oil stockpiles rose last week for the fifth consecutive week, while gasoline and distillate inventories fell, the Energy Information Administration said this week.

The stock of Ingersoll Rand was down more than 1.15% at Rs 514.90 on the BSE.

Click here to READ THE TECHNICAL ANALYSIS FOR INGERSOL RAND

HCL Technologies met with renewed selling pressure today. The Stock was down  1.75% at Rs 987.25 on the BSE.

File Photo

HCL Technologies witnesses selling pressure

BSE sectoral indices

BSE SECTORAL INDICES

Adani Enterprise shares trade firm

Shares of Adani Enterprise were trading hiigher by 0.70% at Rs 173.30 today. Adani Gas Ltd, the gas sourcing and distribution business that was spun off from Adani Enterprises Ltd earlier this year, will be listed on the BSE and NSE in November, according to bankers involved in the process.

The BSE Sensex fell over 202 points in early trade on Friday as other Asian markets continued to suffer losses amid slight weakness in the rupee.

The BSE Sensex was down 202 points at 33,487.40, while the Nifty was down 77 points at 10,047.

Sectoral indices led by metal, infrastructure, Media, oil and gas , auto, capital goods, Private bank , realty and consumer durables stocks were trading in the negative terrain, falling by up to 1.60 per cent.

Today's Pick: Kajaria Ceramics (₹361.2): Buy

The stock of Kajaria Ceramics gained 7.6 per cent accompanied by above average volume on Thursday, moving above a key resistance level of ₹350. This up move provides short-term investors an opportunity to buy the stock at current levels.

11dmc Kajaria

Day Trading Guide for October 26

Given below are supports and resistances for Nifty 50 futures and seven key stocks that can help in your intra-day trading:

₹1969 • HDFC Bank

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