Markets Live: Sensex breaches 34,000-mark; ends down 287 points

Closing Bell

Equity market indices were painted in the red today on the back of relentless selling by institutions ahead of derivative expiry coming Thursday. All the sectoral indices declined with no exception. The BSE Sensex was down 287.15 points at 33,847.23, while the Nifty lost 98.45 points and ended at 10,146.80.

NSE Sectoral Indices

Major stocks that pulled the markets lower were Sun Pharma, which fell nearly 5% to Rs 576.85, Asian Paints was down 4.83% to Rs 1,142.45, Wipro fell 4.30% to Rs 308.35, Ultracemco, down 3.40% to Rs 3,345.30, Grasim lost 3.23% to Rs 829.70.

BSE IT index

The BSE IT index lost 2.79% and ended at 13,795.59. Stocks that dragged this index were Infosys, TCS, Wipro and Masteck to name a few. Infy was down 3% at Rs 657.85, TCS was down 3.05% at 1,844.15 and HCL Tech declined 2.79% at Rs 952.75 and Mastek shed 3.31% at Rs 410.30.

Similarly, the BSE Healthcare index too declined 340.29 points or 2.34% and ended at 14,176.76.

BSE Healthcare index

Midcap stocks take a beating

Mid-cap stocks witnessed heavy selling pressure today, with the index barometer moved in favour of decliners as compared to the advancing shares in the ratio of 2:1. Of the total 251 scrips traded on the BSE LargeMidcap index, the number of decliners outnumbered the advancers by 165 to 86. The index was down by 39 points or 0.90% and ended at 4,074.41 today.

BSE LargeMidcap Index

Midcap Stocks

Mild short covering seen towards closing session

Indices got a mild breather following some short covering that helped to prop up the market from the low point of the day. The Sensex after falling to a low of 33,742.75, had seen a pull back and was being traded at 33,939.10, down 195 points. On the NSE, the Nifty was down 71 points at 10,174.20.

Sensex stocks

IT, Healthcare down over 2%

Major sectoral indices were down with the IT and Healthcare bore the maximum brunt due to selling.

The BSE IT index suffered over 2 per cent loss and was down by 326 points at 13,864.90. The BSE Healthcare too has declined 2.33% or - 338 points at 14,178.41.

BSE Sectoral indices

Sensex chart

Sensex stocks

Lakshmi Vilas Bank hits over 1-month high

Lakshmi Vilas Bank Ltd's shares rise as much as 3.60 per cent to Rs 92.75 on the NSE. Earlier, it touched an intraday high of Rs 95.80.

Private sector lender short-listed five investors to buy a controlling stake in the bank, including Blackstone Group, Bain Capital and TPG Capital Management

The bank had received expressions of interest to participate in capital raising programme from high quality investors but has not decided on investors or quantum of investments yet, it said in a stock exchange filing on Tuesday .

Lakshmi Vilas Bank chart on BSE

The benchmark BSE Sensex extended its losing spree for the fourth straight day and dipped below the 34,000-mark in the afternoon session.  The benchmark was down 356 points at 33,777

All the sectoral indices led by oil & gas, FMCG, IT, pharma, capital goods and PSU, metal, were trading in the negative terrain by falling between 1.75 per cent and 2 per cent. The Nifty was down 129 points at 10,116.

BSE sectoral indices

Indices suddenly dropped vertically now with the Sensex falling 351 points. The Sensex was trading lower by 160 points 15 minutes back, but 190 more points fall was seen instantly.

The Sensex declined 340 points at 33,793, and the Nifty was down 124 points at 10,120.

Sensex chart

SENSEX STOCKS

Nifty Call: Go long on strong rally above 10,180 levels with fixed stop-loss

Taking bearish cues from the Asian and US markets, the domestic benchmark indices began the session in a negative territory. The Nikkei 225 tumbled 604 points or 2.7 per cent to 22,010 levels and Hang Seng Index also plunged 785 points or 3 per cent to 25,367 levels in today's session. Both the Sensex and the Nifty started the session with a gap-down open. Read more

12/10/2018 MUMBAI: National Stock Exchange launch commodity derivatives segment in Mumbai on October 12, 2018. Photo; Paul Noronha

Equities underwent selling pressure and were trading lower from the morning session. The Sensex was down 167 points at 33,966.75, and the Nifty lost 65 points at 10,180. Heavyweighted stocks were trading lower on lack of buying support as investors were sitting on the sidelines with the derivatives expiry for the month ending this Thursday.

Nifty Sectoral Indices

Nifty sectoral indices

Sensex intraday chart

Sensex stocks

Coal India shares rally nearly 2%

Metal stocks were trading mixed, while NMDC, Coal India, Hind Copper and National Aluminium secured gains between 0.75% and 1.75%, others such as Hind Zinc, Tata Steel, JSW Steel and MOIL met with losses between 0.50% and 1.80% today. Coal India surged nearly 2% at Rs 280.30 on the NSE.

The Sensex was down by 135 points at 33,998, while the Nifty was down 59 points at 10,185.90.

Metal Stocks on NSE

Sensex chart

Sensex stocks

Sensex, Nifty still trade in the read

Markets continuted to trade with a negative bias from the morning taking cues from the other Asian markets amid weakness in the rupee. The Sensex lost 150 points at 33,985, while the Nifty has lost 63 points at 10,181.70.  IT, Pharma, PSU banks and Media stocks has taken a moderate beating with those indices falling between 1 and 1.75 per cent.

TOP NSE LOSERS

TOP NSE LOSERS

IT, phama, banks drag markets down

The equity market indices were trading weak for more than two hours of trading today. The BSE Sensex was down by 179 points at 33,954.70. The Nifty, on the NSE, too shed 65 points to trade at 10,179.35. All the sectoral indices with the exception to Financial Services were trading in the red. Among indices, major losers were IT, Pharma and PSU Banks.

NSE SECTORAL INDICES

Lakshmi Vilas Bank gains over 3% on capital raising plan

Lakshmi Vilas Bank has clarified in a statement to the stock exchanges that the bank's capital raising programme is progressing as per the plan. It added that the bank has received  a number of expressions of interest from high networth investors to participate in the programme.

The stock gained 3.40% at Rs 92.55 on the NSE today.

LVB chart

Lakshmi Vilas Bank chart

The BSE Quality index was down 1.18% on the back of weakness in key stocks such as ACC, HPCL, Bajaj Auto, Hero MotoCorp, Nestle, TCS, Page Ind, HCL Tech and Hind Uni Lever.

BSE Quality Index

BSE Quality stocks

Oil dips as Saudi Arabia pledges to play 'responsible role' in market

Oil prices dipped on Tuesday after Saudi Arabia pledged to play a “responsible role” in energy markets, although sentiment remained nervous in the run-up to US sanctions against Iran's crude exports that start next month. Read more on this

Iran crude exports to Asia fall.

BSE Momentum Index down nearly 1%

The BSE Momentum index was trading slightly lower by 0.90%. The index was down 6.12 points at 635.60.  Key shares constituting the index such as Reliance, Kotak Bank, Biocon, LTI, Tata Global, Asian Paints, M&M and Havells were down between 1 and 4 per cent.

BSE Momentum Index

BSE Momentum stocks

Advance to decline ratio at 0.62 on the BSE

On the BSE, out of the total 2,146 shares traded, the number of decliners was higher at 1,267 against  792 advancing stocks. The decliners as a percentage to total number of shares traded was 60% against advancing scrips, which were 36.90%.

TOP LOSERS ON BSE

BSE Losers

SBI’s economic research department believes that rate hike by the RBI is now off the table in FY19.

Sensex, Nifty trade weak

The benchmark BSE Sensex extended its losing spree for the fourth straight day and dipped below the 34,000-mark in early trade, on unabated foreign fund outflows and selling by domestic institutional investors amid weakness in Asian markets. Moreover, the rupee depreciating by another 23 paise to 73.79 against the dollar also dampened sentiments.

The 30-share index slipped 99.51 points, or 0.27 per cent, to 34,035.87. The benchmark had lost 1,028 points in the previous three sessions.

All the sectoral indices led by oil&gas, FMCG, capital goods and PSU, were trading in the negative terrain by falling up to 1.80 per cent.

At the NSE, the Nifty declined 39 points to 10,206.15.

Asian Paints down 5% on disappointing results

Asian Paints suffered the most today by falling 5.21 per cent after the company reported a 14.76 per cent fall in its consolidated net profit at Rs 506 crore for the September quarter.

Rupee exhibits signs of reversal

If the currency breaches 72.9, it can strengthen to 72 and 71.8 in the coming weeks Read more

Rupee weakens 23 paise to 73.79 against US dollar

The rupee depreciated 23 paise to 73.79 against the US dollar in early trade on Tuesday as the American currency strengthened overseas. Read more

LVB shares surge over 7%

Despite the weakness in the overall market, some stocks managed to gain ground and displayed positive trend today. The stock of LVB rose smartly by 7.75% and other notable gainers were Oberoi Realty, CanFin Homes and IndiaBulls Housing.  The Oberoi Realty stock gained 4.52%, CanFin Homes rose nearly 4% and IndiaBulls Housing was up 3.75%

BSE GAINERS

The BSE Sensex fell over 270 points and the NSE Nifty dropped 72 points early trade on Tuesday after the rupee declined amid lack of buying interest Investors'sentiment had taken hit after the IL&FS imbroglio. Traders have also taken cues from weak Asian markets today. Sectoral indices led by manufacturing, IT, oil and gas, consumer durables and auto fell by up to 1.90 per cent.

The NSE Nifty fell 62 points, or 0.61 per cent, to 10,183.10

SENSEX INTRADAY CHART

Sensex intraday

Banking stocks down

Banking stocks were down on low sentiment today. Investors seemed to have turned cautious as Moody’s Investors Service yesterday said the profitability of Indian banks is “distinctively weak” compared to those in BRICS nations, but it will improve from next fiscal as asset quality stabilises.

The Bank Nifty index was down by 113 points or 0.45% at 24,964.90 today. PSU lender SBI was down 1.20%, HDFC Bank has shed 0.70%, Kotak Bank declined 1.60% and ICICI Bank has shed 0.60%

Indian banks’ profitability weaker than BRICS peers: Moody’s

Moody’s Investors Service on Monday said the profitability of Indian banks is “distinctively weak” compared to those in BRICS nations, but it will improve from next fiscal as asset quality stabilises. Read more

Is short-covering overdue as FPIs pile up 1 lakh contracts?

On the last 2 such occasions, Nifty rallied over 8% as foreign portfolio investors cut shorts. Read more

Rupee down 20 paise

The rupee was down by 20 paise at 73.76 against the US dollar. It ended yesterday at 73.56.

The rupee opened lower at 73.62 and slipped further to 73.64 against the dollar. File Photo

The BSE Sensex opened 198 points lower, immediately moved further down and touched a low of 33,860.11. The Sensex is now being traded at 33,966.67, down by 167.72 points. The market was down taking cues from weak Asian markets today amid weakness in rupee.

Major stocks that dragged the index were Reliance, which was down 1.60%, ONGC, down 2.70%, Asian Paint was down 5.25%. Hindustan UniLever lost 1.35% and SBI was down 1% in early trades.

Stocks that bucked the negative trend were IndusInd Bank, that was seen up 2.67%, Tata Motors was up 1%, Adani Ports was up 0.85% and HDFC was up 0.75%.

Sensex chart

At the pre-open session, the Sensex was seen down by 198 points at 33,935.88 today.

Japan's Nikkei share average fell on Tuesday, with all but a handful of the index constituents in the red as subdued corporate earnings and a pullback in global equities weighed on investor sentiment. Read more...

Dow, S&P fall as earnings season picks up

The S&P 500 and the Dow fell in choppy trading on Monday as energy and financial stocks lost ground and caution grew ahead of a slew of earnings reports this week. Read more...

Today's Pick: ICICI Bank (₹327): Buy

Investors with a short-term perceptive can buy the stock of ICICI Bank at current levels. The stock gained 3.8 per cent accompanied by above average volume on Monday, breaching thekey resistance level of ₹320. Read more

Day Trading Guide For Oct 23

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

₹1993 • HDFC Bank

Consider initiating fresh long positions with a tight stop-loss only if the stock rallies above ₹2,005 levels.  R1-2005, R2-2020, S1-1975, S2-1960. Read more

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