Markets Live: Sensex ends marginally lower; Infosys drops 3%, Coal India 2%

Closing bell

The S&P BSE Sensex ended lower by 10.08 points or 0.03 per cent at 34,431.97, while the Nifty50 closed down 6.15 points or 0.06 per cent at 10,380.45 as losses in the shares of software exporters and pharmaceutical companies offset gains in capital goods, banking and auto counters.

Market was range-bound despite a fall in oil prices and strengthening rupee as investors remain focused on quarterly earnings, analysts said.

Top five Sensex gainers were YES Bank, Axis Bank, IndusInd Bank, L&T and State Bank of India, while the major losers were Infosys, Coal India, NTPC, Sun Pharma and M&M.

Among BSE sectoral indices, realty, capital goods, metal and infrastructure were the star-performers, while IT, TECk, FMCG and healthcare lost investors' support.

 

As per provisional data, DIIs bought shares worth Rs 1,124.92 crore, while foreign institutional investors sold share worth Rs 193.65 crore on Wednesday.

 

Global markets

 

European markets followed a strong start in Asia, with robust company earnings helping the pan-European STOXX 600 index hit a two-week high. Britain's FTSE 100 however fell 0.1 per cent. Read more

Gold rebounds from 3-week low

 

Spot gold was up 0.8 per cent at $1,222.41 per ounce, at 0744 GMT, after falling for three sessions in a row. Gold had touched its lowest since October 11 at $1,211.52 per ounce on Wednesday. US gold futures were up 0.9 per cent at $1,225.4 an ounce. Read more

India's gold demand to remain flat

Gold demand in India usually spikes during major festivals like Diwali and Dussehra.

 

The World Gold Council expects India's gold demand to remain flat this year at about 700 tonnes and marginally lower than 771 tonnes logged in the previous year on the back of high prices denting consumer sentiments. Read more

MCX gold, silver

 

Gold prices were up by 0.11 per cent to Rs 31,784 per 10 grams at the futures trade due to creation of fresh positions by speculators owing to a firm global trend. Read more

Sensex gainers, losers

YES Bank, Axis Bank, IndusInd Bank, L&T and State Bank of India were the top five gainers, while the major losers were Infosys, Coal India, NTPC, Sun Pharma and Asian Paints.

Among BSE sectoral indices, realty, capital goods, metal and infrastructure remained investors' favourite, while IT, TECk, healthcare and FMCG succumbed to selling pressure.

 

 

Domestic shares were largely unchanged in a lacklustre trade. The Sensex was trading down 13.88 points or 0.04 per cent at 34,428.17 and the Nifty down 13.8 points or 0.13 per cent at 10,372.80.

Domestic markets faced a tumultuous October, weighed down by a range of issues, including liquidity concerns and a public spat between the country's government and the central bank. The NSE index had on Wednesday registered its worst monthly fall since February 2016.

“Now, in the absence of triggers, the market will be fundamentally directionless for a short period,” said Jayant Manglik, president-retail distribution at Religare Broking.

YES Bank climbs to 3-week high

 

YES Bank surged 8.5 per cent to Rs 204, marking their sharpest intraday gain since October 11. The stock was the top percentage gainer on the NSE index. Read more

Shriram EPC jumps to over 3-month high

 

Shriram EPC Ltd's shares rose as much as 19.4 per cent to Rs 12.90,their biggest percentage gain since July 27, on new order win. More than 407,708 shares changed hands. Read more

Domestic shares were trading largely flat, but a firmer rupee weighed down on IT stocks. The broader NSE index was down 3.4 points or 0.03 per cent at 10,383.20, while the benchmark BSE index was up 15.71 points or 0.03 per cent at 34,453.70.

Domestic markets faced a tumultuous October, weighed down by a range of issues, including liquidity concerns and a public spat between the country's government and the central bank. The NSE index had on Wednesday registered its worst monthly fall since February 2016.

“Now, in the absence of triggers, the market will be fundamentally directionless for a short period,” said Jayant Manglik, president-retail distribution at Religare Broking.

However, a busy earnings season continued to influence stocks, with L&T jumping 6.7 percent to a near two-month high after reporting a solid quarterly profit. L&T was the top boost on the NSE index.

YES Bank Ltd surged 8.5 per cent in its biggest daily gain since October 11. The stock was the biggest percentage gainer on the index.

The rupee firmed as much as 0.26 percent at 73.7600 against the dollar, compared with its close of 73.9500 on Wednesday.

Software service exporters were beaten down by the stronger rupee, with Infosys Ltd dropping 1.6 per cent and Tata Consultancy Services slipping 1.8 per cent. Nifty IT index slipped 2.1 per cent.

Consumer stocks ITC Ltd and Hindustan Unilever Ltd fell 1.8 per cent and 2.4 per cent, respectively. _ Reuters

Sensex gainers, losers

Nifty gainers, losers

 

IL&FS board proposes sale of subsidiaries

 

The new board of IL&FS has proposed a multi-pronged strategy to revive the beleaguered company, including significant capital infusion at the group level from credible and financially strong investors, selling of subsidiaries at the vertical level and resolution at the asset level. Read more

IRB Infra to participate in 2nd TOT auction

 

IRB Infrastructure is preparing to participate in the second toll-operate-transfer rights auction by the National Highways Authority of India on its own without forming a joint venture with an international partner. Read more

Maruti Suzuki sales up

FILE PHOTO

 

Maruti Suzuki India has reported a marginal increase in sales at 1,46,766 units in October. The company shares were trading up one per cent at Rs 6,674.85 on the BSE. Read more

Nifty 50 November Futures (10,365)

 

Nifty 50 futures contract seems to be lacking momentum. After surging 1.6 per cent on Wednesday, the contract opened with a wide 42-point gap-up today. However, it failed to sustain higher and has come-off sharply from the day's high of 10,440.15. The contract has declined below the psychological support level of 10,400 and is currently trading at 10,365. Read more

 

Lupin falls 2.6%

 

Shares of Lupin Ltd fell as much as 2.6 per cent to Rs 862.2, in their biggest daily percentage drop in over a week. The company’s Q2 net profit plunged 41.5 per cent to Rs 266 crore ($36.04 million), missing average analysts' estimate. Read more

Canara Bank drops 3%

 

Canara Bank Ltd shares fell as much as 2.9 per cent to Rs 254.25. The state-run lender had on Wednesday posted a 15.1 per cent rise in Q2 net profit on a tax write-back and marginal improvement in asset quality. Read more

United Spirits climbs 7.5%

 

United Spirits Ltd climbed 7.5 per cent to Rs 619.9, their highest since September 3. The stock marked its sharpest intraday percentage gain since January 5, and was on track for 4th straight winning session. Read more

L&T surges 6.7%

 

L&T shares surged as much as 6.7 per cent to Rs 1,384 in their biggest daily percentage gain since August 20. The stock was the top percentage gainer on NSE index. Read more

Manufacturing PMI jumps to 53.1

 

Nikkei India Manufacturing Purchasing Managers’ Index rose to 53.1 in October from 52.2 in September. This is the 15th month of continuous expansion. October data showed a fifth successive monthly rise in quantity of purchases. Read more

Gold demand likely to fall

 

WGC says India's gold demand in 2018 is expected to fall from the previous year as a rally in local prices to five-year highs is likely to dent purchases during key festivals in the December quarter. Read more

Benchmark indices continued to trade lower due to profit-booking by funds and retail investors amid firm global cues. The Sensex was down 122.12 points or 0.35 per cent at 34,319.93 and the Nifty down 36.1 points or 0.35 per cent at 10,350.50.

Major Sensex losers were Infosys, Wipro, TCS, ITC and HUL, while the top five gainers were YES Bank, L&T, IndusInd Bank, Axis Bank and Tata Motors.

 

Among BSE sectoral indices, capital goods gained 3.66 per cent, followed by realty 1.57 per cent, infrastructure 1.12 per cent and oil & gas 0.76 per cent. On the other hand, IT fell 2.05 per cent, TECk 1.82 per cent, FMCG 1.05 per cent and healthcare 0.36 per cent.

 

 

Axis Securities begins trading on NCDEX

 

Axis Securities has launched trading in commodity derivatives with the National Commodity and Derivatives Exchange. In August, it had launched trading in commodity derivatives with the Multi Commodity Exchange. Read more

Brent crude drops to $74.72

 

Oil prices fell due to signs of rising supply and growing concerns that demand might weaken on the prospect of a global economic slowdown. Brent crude January futures contract lost 44 cents, or 0.32 per cent, to trade at $74.72 per barrel by GMT 0054 GMT. West Texas Intermediate crude futures fell 46 cents to $65.01 a barrel. Read more

Sterling shines on Brexit deal

 

The British pound jumped on a report that UK Prime Minister Theresa May has struck a deal with Brussels on financial services, while the dollar held near a 16-month high versus a basket of its key rivals on strong US economic data. Read more

Rupee rebounds to 73.76

 

The rupee rebounded by 19 paise to 73.76 against the dollar on increased selling of the American currency by exporters. It hovered in a range of 73.88 and 73.76 before quoting at 73.84. Read more

Benchmark indices were trading marginally lower due to profit-booking by funds and retail investors amid firm global cues. The Sensex was down 38.11 points or 0.11 per cent at 34,403.94 and the Nifty down 22.65 points or 0.22 per cent at 10,363.95.

Top five Sensex gainers were YES Bank, L&T, Tata Motors, Axis Bank and State Bank of India, while the major losers were Wipro, HUL, Infosys, TCS and ITC.

Among BSE sectoral indices, capital goods was the star-performer followed by realty, infrastructure and oil & gas. On the other hand, IT, TECk, FMCG and healthcare succumbed to selling pressure.

 

 

GE Power bags Rs 1,783 cr orders

 

GE Power India has been awarded four orders by NTPC to supply and install Wet FGD systems for a combined value of ₹1,783 crore. The company shares were up 0.57 per cent at Rs 833.10 on the BSE. Read more

Shriram EPC stocks spurt 12%

 

Shriram EPC has won order worth ₹236 crore from the Jharkhand Government (Drinking Water & Sanitation Dept.) The company shares were trading up 11.82 per cent at Rs 12.30 on the BSE. Read more

The Sensex and Nifty turned flat after opening higher due to profit-booking by funds and retail investors amid firm global cues. The BSE index was trading up 10.96 points or 0.03 per cent at 34,453.01 and the NSE index up 10.2 points or 0.1 per cent at 10,396.80.

 

The Sensex jumped 149.36 points, or 0.44 per cent, to 34,591.41 points in early trade. The gauge had climbed 550.92 points Wednesday. The Nifty gained 55 points, or 0.49 per cent, to 10,441.60.

Easing concerns over the rift between the government and RBI, after the Finance Ministry said the autonomy for the central bank, within the framework of the RBI Act, was an “essential and accepted” governance requirement, lifted the market in early trade.

Meanwhile, DIIs bought shares worth Rs 1,124.92 crore, while foreign institutional investors sold share worth Rs 193.65 crore on Wednesday.

Buyback, quarterly results

Oriental Carbon & Chemicals and Triveni Turbine boards apart from meeting for quarterly results for the period ended September 2018, will also consider a buyback proposal today. Read more

Reliance Nippon shares down 0.45%

 

Reliance Nippon Life Asset Management has reported a 12 per cent rise in net profit in the September quarter at ₹114 crore (₹102 crore) on the back of increase in assets under management. The company shares were down 0.45 per cent at Rs 166.20 on the BSE. Read more

What to watch

Automobile companies such as Ashok Leyland, Bajaj Auto, Eicher Motors, Hero MotoCorp, M&M, Maruti Suzuki, Tata Motors and TVS Motor will remain in focus beginning today, as they reveal sales figures for the month of October 2018. Read more

Broker's call

Equirus Securities

Maruti Suzuki (Long)

Target: ₹8,007

CMP: ₹6,608.95

Read more

The Sensex was trading higher by 78.6 points or 0.23 per cent at 34,520.65 and the Nifty up 16.9 points or 0.16 per cent at 10,403.50 owing to firm global cues.

Top five Sensex gainers were L&T, YES Bank, ONGC, M&M and Tata Motors, while the major losers were Wipro, NTPC, TCS, Infosys, IndusInd Bank.

Among BSE sectoral indices, capital goods was the star-performer followed by infrastructure, realty, and metal. On the other hand, IT, TECk and FMCG indices succumbed to selling pressure.

 

Global markets

 

Asian stocks rose on Thursday as bruised investor sentiment got some relief from another robust Wall Street session thanks to upbeat corporate earnings. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.15 per cent, adding to modest gains the previous day. Read more

Opening bell

The 30-share BSE index Sensex opened at 34,566.95, up 124.9 points, against the previous close of 34,442.05. The 50-share NSE index Nifty opened at 10,415.00, up 29.4 points, against the previous close of 10,386.60.

Day Trading Guide

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

₹1911 • HDFC Bank

 

₹686 • Infosys

 

₹279 • ITC

 

₹153 • ONGC

 

₹1061 • Reliance Ind.

 

₹280 • SBI

 

₹1937 • TCS

 

10398 • Nifty 50 Futures

 

S1, S2 : Support 1 & 2; R1, R2: Resistance 1 & 2.

Today's Pick

 

We recommend a buy in the stock of Fortis Healthcare at the current levels of ₹140.4. With the bullish momentum, the stock has potential to extend the upmove and reach the price targets of ₹146 and ₹149 in the ensuing trading sessions. Read more