Markets Live: Sensex closes higher by 118 points; Adani Ports surges 4.2%, Kotak Bank 2.9%

Closing bell

The Sensex closed higher by 118.55 points or 0.34 per cent at 35,260.54 and the Nifty up 40.4 points or 0.38 per cent at 10,616.70 led by consumer durables, realty, banking and metal stocks amid firm global cues.

 

 

Fresh foreign fund inflows and strengthening of rupee to 71.87 boosted the domestic sentiment. As per provisional data, foreign institutional investors had bought shares worth Rs 277.38 crore, while domestic institutional investors sold shares to the tune of Rs 272.34 crore on Wednesday.

Top five Sensex gainers were Adani Ports, Kotak Bank, Hero MotoCorp, Axis Bank and Tata Motors, while the major losers were YES Bank, NTPC, ONGC, Sun Pharma and Coal India.

Traders said falling crude prices in the global market was a big boost for the economy as it lightens the country’s import bill burden, eases inflation and current account deficit concerns.

Global crude oil prices have fallen by near 30 per cent to $65 per barrel from over $86 in early October. Brent crude fell 0.47 per cent to $65.81 per barrel on fears of higher supply.

GIC, New India Assurance OFS

 

The Finance Ministry is planning to come out with the share sale offer of GIC and New India Assurance. Merchant bankers, who can bid singly or as a consortium, can apply for assisting the government in the stake sale process by December 7, 2018. Read more

Bullion rates

 

Gold regained its sheen with prices climbing by Rs 350 to Rs 32,250 per 10 gram at the bullion market. Silver too rose Rs 450 to Rs 37,900 per kg on increased offtake by industrial units. Read more

European markets

 

The pan-European STOXX 600 index was up 0.2 per cent by 0844 GMT, with German, French and Spanish bourses rising more than 0.4 per cent. Britain's FTSE 100 was outperforming its euro zone peers as the pound fell 0.3 per cent. Read more

UTI AMC to appoint new MD & CEO

UTI Asset Management Company has initiated the process for appointment of a new managing director and chief executive. The company is seeking an overall work experience of 20 years, with 15 years in financial services and will prefer 10 years in the asset management space. Read more

Pre-close trade

The Sensex was trading higher by 193.71 points or 0.55 per cent at 35,335.70 and the Nifty up 49.35 points or 0.47 per cent at 10,625.65 on heavy buying in consumer durables, realty, capital goods and metal stocks amid firm European cues.

 

 

Fresh foreign fund inflows and strengthening of rupee to 71.87 owing to easing crude oil prices boosted the domestic sentiment. As per provisional data, foreign institutional investors had bought shares worth Rs 277.38 crore, while domestic institutional investors sold shares to the tune of Rs 272.34 crore on Wednesday.

Top five Sensex gainers were Adani Ports, Tata Motors, Kotak Bank, Axis Bank and Hero MotoCorp, while the major losers were YES Bank, NTPC, Sun Pharma, ONGC and ITC.

 

India's copper demand set to double

 

India's copper consumption is expected to rise to 1.433 million tonnes by 2026 from around 650,000 tonnes in 2018, says Birla Copper Chief Executive Officer J C Laddha. Read more

Jet Airways surges 8%

 

Shares of Jet Airways surged 8 per cent in the afternoon trade, amid reports of Tata Group planning to buy a controlling stake in the cash-strapped airline company. Read more

Ujjivan Financial surges 10%

 

Shares of Ujjivan Financial Services surged nearly 10 per cent as the company has reported a consolidated net profit of Rs 44.3 crore in the second quarter ended September 30. At 2.10 pm local time, the shares were up 7.86 per cent at Rs 234.60 on the BSE. Read more

Grasim tanks 9% on Q2 loss

 

Shares of Grasim Industries dived 9 per cent as the company has reported a consolidated net loss of Rs 1,299.86 crore for the quarter ended September 2018. It had posted a net profit of Rs 799.03 crore during the July-September period of last fiscal. Read more

China stock rebound

 

China stocks rebounded after China delivered a written response to US trade demands, lifting hopes for a resumption of negotiations, and as property firms gained after data showed new home prices rose in October. At the midday break, the Shanghai Composite index was up 18.27 points, or 0.69 per cent, at 2,650.51. Read more

Domestic shares were trading higher as as weak crude oil prices kept investor sentiment upbeat, cushioning the blow from YES Bank's plunge after the private sector lender's chairman stepped down.

Global oil prices have lost around a quarter of their value since early October, boding well for the rupee and boosting positive sentiment as cheaper oil lightens India's import bill and eases inflation. Oil prices slipped on Thursday after a brief rebound, weighed down by concerns of rising supply.

The Sensex was trading higher by 222.95 points or 0.63 per cent at 35,364.94 and the Nifty up 56.05 points or 0.53 per cent at 10,632.35.

Top five Sensex gainers were Adani Ports, Tata Motors, Axis Bank, Hero MotoCorp and Vedanta, while the major losers were YES Bank, Coal India, M&M, HUL and Sun Pharma.

 

As per provisional data, foreign institutional investors had bought shares worth Rs 277.38 crore, while domestic institutional investors sold shares to the tune of Rs 272.34 crore on Wednesday.

Kotak Standard Multicap

 

With the stock markets moving sharply up one day and moving down steeply the next, funds that navigate iffy market conditions well are a good buy at this juncture. Kotak Standard Multicap is one such. Launched just after the 2008-09 market crash, the fund contained losses well in falling and volatile market conditions which prevailed in 2011, 2013, 2015 and 2016.  Click here to read more

How portfolio management schemes invest

 

What is the difference between a mutual fund and a portfolio management scheme (PMS)? PMS products are different from off-the-shelf (OTC) MF ones by two broad measures: operational structure and objective. Click here to read more

Reliance Large Cap

 

Investors with a long-term perspective can buy the units of Reliance Large Cap (erstwhile Reliance Top 200), a large-cap- oriented equity fund that has delivered handsomely over the long run. Following SEBI’s categorisation and rationalisation of mutual fund schemes, the fund shifted its focus from a diversified equity scheme to one that predominantly invests in large-cap stocks. Read more

Piramal Enterprises' NCDs

 

Piramal Enterprises plans to raise up to Rs 500 crore through issuance of non-convertible debentures on a private placement basis. The company plans to raise up to Rs 400 crore with an option to retain oversubscription of up to Rs 100 crore, aggregating the total issue size to Rs 500 crore. Read more

Nifty 50 November Futures (10,645)

 

Nifty 50 futures contract is trading on a positive note. The contract has reversed sharply higher after making an intraday low of 10,586. It is currently trading at 10,645. Read more

Domestic shares edged higher in a lacklustre trade as weak crude oil prices kept investor sentiment upbeat, cushioning the blow from YES Bank's plunge after the private sector lender's chairman stepped down.

Global oil prices have lost around a quarter of their value since early October, boding well for the rupee and boosting positive sentiment as cheaper oil lightens India's import bill and eases inflation. Oil prices slipped on Thursday after a brief rebound, weighed down by concerns of rising supply.

The broader NSE index was up41.4 points or 0.39 per cent at 10,617.60 as of 12.40 pm, while the benchmark BSE index was higher by 145.89 points or 0.42 per cent at 35,287.88. The rupee firmed as much as 0.4 per cent to 72.04 against the dollar, compared to its close of 72.305 on Wednesday.

Gains in Indian stocks were bound to happen as they had earlier corrected because of higher crude prices, said Neeraj Dewan, director at Quantum Securities.

Infosys Ltd rose 1.5 per cent and was the top boost to the index, following heavy losses in the previous session.

 

HDFC Bank Ltd India's largest lender by market capitalisation, edged 0.7 per cent higher, while Kotak Mahindra Bank Ltd rose as much as 1.9 per cent.

Shares of YES Bank Ltd plummeted 9.1 per cent after its Chairman resigned on Thursday, exacerbating woes at its top management. The stock was the top drag on the NSE index.

 

Grasim Industries Ltd plunged 9.1 per cent in its sharpest intraday percentage fall in two years after posting a quarterly loss late on Thursday.

 

BSE sectoral indices

 

NSE sectoral indices

 

Spot gold holds steady at $1,210.65

 

Gold prices held steady, after rising nearly a per cent in the previous session, as the dollar retreated further from a 16-month peak against a basket of currencies. Spot gold was little changed at $1,210.65 per ounce at 0055 GMT. US gold futures were flat 0.1 per cent at $1,203 per ounce. Read more

Vodafone Idea tumbles 8%

 

Shares of Vodafone Idea Ltd fell as much as 7.9 per cent to Rs 38.15, their lowest since October 31, as the telecom operator has reported Q2 loss of Rs 4,974 crore ($690.07 million), mainly due to a one-off charge for integration and merger-related costs. Read more

YES Bank tanks 7%

 

Shares of YES Bank fell as much as 6.9 per cent to Rs 207 rupees, their lowest since November 5 as non-executive independent chairman Ashok Chawla has resigned from the board. Read more

Sensex gainers, losers

Top 10 Nifty gainers, losers

 

The Sensex was trading higher by 137.43 points or 0.39 per cent at 35,279.42 and the Nifty up 34.5 points or 0.33 per cent at 10,610.80 on heavy buying in consumer durables, IT, TECk and auto stocks amid firm Asian cues. However, oil & gas stocks lost investors' support.

Fresh foreign fund inflows and strengthening of rupee to 72.04 on easing crude oil prices boosted the domestic sentiment. As per provisional data, foreign institutional investors had bought shares worth Rs 277.38 crore, while domestic institutional investors sold shares worth Rs 272.34 crore on Wednesday.

Brent crude drops to $66

Record oil supply heads to Asia. File Photo

 

Oil prices slipped, weighed down by rising supply going into a market in which consumption is expected to slow down amid a glum economic outlook. Brent crude oil futures were trading at $65.88 per barrel at 0441 GMT, down 24 cents, or 0.4 per cent, from their last close. WTI crude futures were at $55.96 a barrel, down 29 cents, or 0.5 per cent. Read more

Rupee strengthens to 72.04

 

The rupee appreciated 27 paise to 72.04 against the US dollar on fresh foreign fund inflows and easing crude oil prices. At 11.10 am, the rupee was trading strong by 17 paise at 72.14 at the interbank forex market. Read more

Parnax Lab settles case with SEBI

 

Parnax Lab has settled the proceedings with SEBI in connection with the alleged violation of listing norms on payment of over Rs 10 lakh towards settlement charges. The order came after the company approached SEBI proposing a settlement to pay a penalty without admission or denial of guilt. Read more

DSP Healthcare Fund

 

DSP Mutual Fund has launched DSP Healthcare Fund, an open ended fund, scheduled to close on November 26. The investment would predominantly be in equity and equity-related securities in healthcare and pharma sector. Read more

SEBI's dilemma

BL 24-5-2013 MUMBAI: Prime Minister Manmohan Singh releasing a stamp to commemorate the silver jubilee of SEBI in Mumbai on Friday. Pic by SHASHI ASHIWAL

 

SEBI has received 77,000 applications for 120 entry-level positions of assistant manager, but only one for executive director — legal. The entry-level posts comes with a salary package of over ₹12 lakh a year, which draws young recruits. Read more

MFs log in over Rs 35,500 cr inflows

 

Investors had pumped over Rs 35,500 crore into various mutual fund schemes in October, after pulling out more than Rs 2.3 lakh crore in the preceding month, amid a correction in equity markets. Read more

Benchmark indices wiped off their early gains due to heavy selling in oil & gas, PSU, banking and realty stocks amid firm Asian cues. On the other hand, consumer durables, capital goods, auto and infrastructure stocks found investors' support.

 

 

The Sensex was trading up 1.74 points or 0.00 per cent at 35,143.73 and the Nifty down 8 points or 0.08 per cent at 10,568.30.

Top five Sensex gainers were Tata Motors, Adani Ports, Hero MotoCorp, Bharti Airtel and Maruti, while the major losers were YES Bank, M&M, ICICI Bank, TCS and Sun Pharma.

Early trade

The 30-share BSE index Sensex rose 115.89 points, or 0.33 per cent, to 35,257.88. It had shed 2.50 points on Wednesday in a choppy trade. The 50-share NSE index Nifty gained 30.25 points, or 0.29 per cent, to 10,606.55.

Nalco share buyback

Large Aluminium Steel Rolls in the factory, high angle view

 

Nalco has announced a share buyback offer worth Rs 505 crore. “The date of opening of the buyback is Tuesday, November 13, and the date of closing of the buyback offer is Wednesday, November 28,” Nalco said in a filing to the BSE. Read more

Broker's call

Centrum Broking

KVB (Hold)

CMP: ₹81.7

Target: ₹87

Click here to read more

Elara Capital

Eicher Motors (Accumulate)

CMP: ₹23,267.95

Target: ₹26,103

Click here to read more

The Sensex was trading higher by 79.44 points or 0.23 per cent at 35,221.43 and the Nifty up 16.15 points or 0.15 per cent at 10,592.45 on firm global cues.

 

 

The rupee strengthened by 24 paise to 72.07 against the US dollar on fresh foreign fund inflows and easing crude oil prices. As per provisional data, foreign institutional investors had bought shares worth Rs 277.38 crore on Wednesday.

Oil prices fell, pressured by rising supply going into a market in which consumption is expected to slow down amid a glum economic outlook. Brent crude oil futures were trading at $65.90 per barrel at 0254 GMT, down 22 cents, or 0.3 per cent, from their last close.

Asian stocks rose, taking heart from a bounce in Chinese shares on news that China has delivered a written response to US trade demands.

Asian markets

 

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.15 per cent. The stock market gains in Asia were limited after Wall Street extended their recent decline. More here

Opening bell

The 30-share BSE index Sensex opened marginally higher at 35,145.75 against the previous close of 35,141.99. The 50-share NSE index Nifty opened at 10,577.15 against the previous close of 10,576.30

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:

₹1958 • HDFC Bank

 

₹653 • Infosys

 

₹276 • ITC

 

₹160 • ONGC

 

₹1096 • Reliance Ind.

 

₹283 • SBI

 

₹1880 • TCS

 

10593 • Nifty 50 Futures

 

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

Today's Pick

 

We recommend a buy in the stock of Future Retail at the current levels of ₹527.5. Traders can accumulate on dips at ₹515 and ₹505. Stop-loss can be placed at ₹490 for a target of ₹595. Read more