Markets Live: Sensex ends higher by 159 points; Infosys climbs nearly 3%

Closing bell

The S&P BSE Sensex closed higher by 159.06 points or 0.45 per cent at 35,513.14 and the Nifty 50 up 57 points or 0.54 per cent at 10,685.60 on heavy foreign fund inflows despite weak global cues.

Domestic sentiment was buoyed as brokerage firm HSBC has upgraded Indian equities to “neutral” from “underweight”, saying valuations were more reasonable, investors' holdings were very low and strong earnings growth would continue next year.

As per provisional data, foreign portfolio investors bought shares worth Rs 62.74 crore and DIIs were net buyers to the tune of Rs 351.78 crore on Monday.

European shares fell after a new threat by Washington to impose tariffs on more Chinese imports, while Thomas Cook tanked on a profit warning.

BSE sectoral indices

NSE sectoral indices

Sensex gainers, losers

Top 10 Nifty gainers, losers

Rupee wipes off losses

The rupee wiped off its early losses and was trading strong by 9 paise at 70.78 on fresh foreign fund inflows. It hovered in a range of 71.02 and 70.73 in the afternoon trade. Read more

European markets

European shares fell after a new threat by Washington to impose tariffs on more Chinese imports, while Thomas Cook tanked on a profit warning. The pan-European STOXX 600 benchmark index fell 0.2 per cent. Read more

Pre-close trade

The S&P BSE Sensex was trading higher by 162.1 points or 0.46 per cent at 35,516.18 and the Nifty50 up 50.55 points or 0.48 per cent at 10,679.15 on heavy buying in IT, TECk, realty and power stocks amid weak European cues. However, healthcare, metal, FMCG and consumer durables lost investors' support.

Top five Nifty gainers were TCS, Bajaj Finserv, Infosys, BPCL and HCL Technologies, while the major losers were Hero MotoCorp, Sun Pharma, Wipro, JSW Steel and Bharti Airtel.

UTI Regular Savings

Conservative hybrid funds that invest a chunk of their assets in debt instruments are ideal for risk-averse investors chary of market volatility. These funds are mandated to invest 75-90 per cent of assets in debt securities and 10-25 per cent in equities. UTI Regular Savings Fund (erstwhile UTI-MIS Advantage plan) has been a consistent long-term performer within the category. Read more

HSBC upgrades Indian equities to neutral

HSBC has upgraded Indian equities to “neutral” from “underweight”, saying valuations were more reasonable, investors' holdings were very low and strong earnings growth would continue next year. With the Parliament elections scheduled for 2019, HSBC said it expected equities to gain like in the previous three polls. Read more

LME copper extends losses

London copper prices extended losses into a third straight session following a report that US President Donald Trump expects to move ahead with raising tariffs on $200 billion of Chinese imports. Three-month copper on the London Metal Exchange had fallen 1 per cent to $6,130 a tonne by 0716 GMT, extending a 0.3 per cent drop from the previous session.  Read more

Granules India shares plunge

Granules India’s subsidiary has received approval from the US health regulator for Methylphenidate Hydrochloride extended-release tablets used in the treatment of a sleep disorder called narcolepsy. The company shares were down 1.44 per cent at Rs 89.25 on the NSE. Read more

Alembic Pharma shares up

Alembic Pharmaceuticals has received approval from the US health regulator for Temazepam capsules which is used for the treatment of insomnia. The company shares were up 0.29 per cent at Rs 563.90 on the NSE. Read more

The S&P BSE Sensex was trading higher by 99.45 points or 0.28 per cent at 35,453.53 and the Nifty 50 up 34.75 points or 0.33 per cent at 10,663.35 on heavy buying in realty, IT, TECk and power stocks. However, healthcare, FMCG, consumer durables and auto succumbed to selling pressure.

Metal stocks after Morgan Stanley cut ratings on a few resource-based companies. JSW Steel Ltd plunged 4.6 per cent after Morgan Stanley cut its rating on the stock to 'underweight' from 'equalweight'. Profitability of Indian steel companies is at decade-high, the brokerage added.

Sun Pharmaceutical Industries was the top drag on the index, falling over 7 per cent. Other drugmakers followed suit, with the Nifty pharma index down 1.8 percent.

Investors were cautious ahead of the expiry of futures and options (F&O) contracts on Thursday and the release of gross domestic product data for the September quarter on Friday.

Sentiment was also muted in Asia after US President Donald Trump seemed to quash hopes of a trade truce with China, clouding what had been a bright start to the week. Oil markets also remained cautious.

Large debtors must raise 25% via bonds

SEBI says from next fiscal, large corporates have to raise 25 per cent of their incremental borrowings only through the corporate bonds market.  It has defined large corporate as a listed entity (except banks), having an outstanding long-term borrowing (more than one year) of at least ₹100 crore and a credit rating of ‘AA and above. Read more

ICRA downgrades SP group’s bank facilities

ICRA has downgraded Shapoorji Pallonji group’s ₹18,500-crore fund and non-fund based long-term rating assigned to bank facilities. SP group has high exposure to real-estate business. Read more

Taken action in spot exchange case: SEBI

The Securities and Exchange Board of India has said that action has been initiated against 300 brokers involved in the ₹5,600 crore National Spot Exchange scam of 2013. However, it has not revealed their names lest it affects the market sentiment. Read more

MCX gold, silver

Gold pries edged up by Rs 46 to Rs 30,593 per 10 grams at the futures market due to widening of bets by participants despite a weak trend overseas. Silver futures traded higher by 0.17 per cent at Rs 36,083 per kg. Read more

Spot gold down at $1,220.81

Gold prices inched lower as the dollar steadied amid fears of a slowdown in global economic growth and increasing pessimism due to a likely worsening of US-China trade dispute ahead of the G20 meet. Spot gold was down 0.1 per cent at $1,220.81 per ounce at 0126 GMT. Read more

Metal, pharma stocks plunge

Metal stocks pulled the NSE index lower, with the Nifty metal index down as much as 2.1 per cent. It has fallen 19.5 per cent so far this year, contrary to its jump of over 40 per cent in each of the past two years.

JSW Steel Ltd plunged 4.6 per cent after Morgan Stanley cut its rating on the stock to 'underweight' from 'equalweight'. Profitability of Indian steel companies is at decade-high, the brokerage added.

Sun Pharmaceutical Industries was the top drag on the index, falling over 7 per cent. Other drugmakers followed suit, with the Nifty pharma index down 1.8 per cent. Still, the sentiment was supported by gains in large-cap stocks such as Infosys Ltd, Reliance Industries Ltd and HDFC Bank Ltd .

Benchmark indices were trading flat as metal stocks fell after Morgan Stanley cut the ratings on a few resource-based companies, while large-cap stocks offset the losses.

Investors are also cautious ahead of the expiry of futures and options (F&O) contracts on Thursday and the release of India's gross domestic product data for the September quarter on Friday.

Sentiment was also muted in Asia after US President Donald Trump seemed to quash hopes of a trade truce with China, clouding what had been a bright start to the week. Oil markets also remained cautious.

“Market stays in a tight range, investors wouldn't feel comfortable about results of the past quarter given the volatility of the earnings,” said Deven Choksey, founder, KR Choksey Investment Managers.

The broader NSE index was down 12.6 points or 0.12 per cent at 10,616. The benchmark BSE index was lower by 38.66 points or 0.11 per cent at 35,315.42.

The flattish move mirrors that of the choppy trade seen initially on Monday, but markets swung to positive territory in the last two hours.

“Volatility increased in the F&O market yesterday and that's a cause for worry. Volatility is significantly increasing in the monthly settlement along with the open interest,” Choksey added.

India's volatility index, a measure of stock market volatility, fell as much as 18.6 per cent, but pared most losses and was last lower by 7 per cent. _ Reuters

Nifty 50 November Futures (10,620)

Nifty 50 futures contract has been trading on a mixed note. The contract has been stuck between 10,590 and 10,650 for some time now. A breakout on either side of 10,590 or 10,650 will determine the next move. Traders can stay out of the market until the range breakout gives a clear cue. Read more

Rupee may pause temporarily

The pull-back move from 70.30 on Monday is technically significant. The level of 70.32 is the 31.8 per cent Fibonacci retracement resistance level. As long as the rupee remains below 70.30, there is a strong likelihood of a corrective fall in the near term. Read more

Crude oil slips on record Saudi output

Oil prices slipped on record Saudi oil production, although traders were cautious ahead of the G20 gathering that starts in Argentina on Friday and next week's OPEC meeting in Austria. Brent crude oil futures briefly dipped below $60 per barrel before edging back to $60.32 at 0326 GMT, still down 16 cents, or 0.3 per cent, from the previous close. Read more

IIFL Securities to acquire 15% stake in Trendlyne

IIFL Securities is in the process of acquiring 15 per cent stake in Bangalore-based stock market analytics platform Trendlyne for an undisclosed sum. Shares of IIFL Holdings were up 0.56 per cent at Rs 479.60 on the BSE. Read more

IFCI jumps to 1-month high

Shares of IFCI jumped as much as 7 per cent to Rs 14.6, in biggest daily percentage gain in nearly a month as the company has received ₹491.84 crore towards security receipts under the IBC resolution plan for Binani Cement. Read more

Sensex gainers, losers

MCX probing ‘abuse’of pact with IGIDR

The Multi Commodity Exchange is conducting an internal inquiry to find out if a 2016 agreement to share data with the Indira Gandhi Institute of Development Research was misused. This comes after a whistle-blower alleged that data from the MCX was accessed by Ajay Shah, who is also being investigated for the algo trading scam at the National Stock Exchange. Read more

Forex market

The dollar held steady as fresh concerns about the Sino-US trade war lent support to safe haven currencies, although the moves were tempered as investors await possible cues from the Federal Reserve about policy direction. The dollar index, which measures its value against six major peers, held steady at 97.01, trading near its highest level since November 15. Read more

Rupee weakens to 71.02

The rupee depreciated by 15 paise to 71.02 against the US dollar as US President Donald Trump has proposed a tariff hike on Chinese goods. At 10.40 am, the rupee was trading flat at 70.87. Read more

Suzlon Energy climbs nearly 4%

Suzlon Energy has completed the sale of Tornado Solar Farms to CLP Wind Farms (India). The company has received ₹32.49 crore (in two tranches) from the deal. Suzlon Energy shares were up 3.7 per cent at Rs 5.62 on the BSE. Read more

The S&P BSE Sensex was trading down 1.49 points or 0.00 per cent at 35,352.59 and the Nifty50 down 3.9 points or 0.04 per cent at 10,624.70 as investors turned cautious after US President Donald said he was likely to go ahead with a tariff hike on Chinese goods.

According to analysts, investors remain cautious due to uncertainty over US-China trade war, domestic state elections and dimming global outlook on account of a sharp fall in oil prices.

Top five Sensex gainers were YES Bank, Infosys, PowerGrid, Reliance and IndusInd Bank, while the major losers were Sun Pharma, Tata Steel, Bajaj Auto, Vedanta and Hero MotoCorp.

Among BSE sectoral indices, realty, IT, TECk and infrastructure found investors' support, while metal, healthcare, FMCG and auto succumbed to selling pressure.

As per provisional data, foreign portfolio investors bought shares worth Rs 62.74 crore and DIIs were net buyers to the tune of Rs 351.78 crore on Monday.

Arvind shares to turn ex-date for demerger

Shares of Arvind will remain in focus, as they will turn ex-date for the proposed demerger of the branded apparel and engineering businesses into separate entities — Arvind Fashions and Anveshan Heavy Engineering. Read more

Nava Bharat shares up

Nava Bharat Ventures  and its subsidiary (Nava Bharat Energy (India) Ltd) have signed contracts with Tata Power Trading for power supply of 25 MW and 100 MW, respectively, to Telangana State Grid. Read more

The 30-share BSE index Sensex was trading up 9.76 points or 0.03 per cent at 35,363.84 and the 50-share NSE index Nifty up 2.05 points or 0.02 per cent at 10,630.65.

Asian share markets struggled to extend a global rebound as US President Donald Trump seemed to quash hopes of a trade truce with China, dampening risk appetite across the region. Japan's Nikkei managed to eke out a 0.1 per cent gain, and Chinese blue-chips added 0.6 per cent.

Other bourses were mixed with MSCI's broadest index of Asia-Pacific shares outside Japan easing 0.1 per cent. E-Mini futures for the S&P 500 also retreated 0.4 per cent, after rising sharply overnight.

Reliance Capital, Vadilal results

The board of Reliance Capital and Vadilal Industries will meet on Tuesday to consider the unaudited quarterly results for the quarter/half year ended September 30, 2018. Read more

Binani Cement resolution: IFCI receives ₹491.84 cr

IFCI has received ₹491.84 crore towards security receipts under the IBC resolution plan for Binani Cement. On account of resolution of Binani Cement through NCLT, IFCI, which is holding 42,16,850 security receipts of the face value of ₹1,000 each, has received ₹491.84 crore, net of TDS of ₹30.55 crore. Read more

Opening bell

The S&P BSE Sensex opened lower by 14.82 points at 35,339.26 against the previous close of 35,354.08 and the Nifty down 8.75 points at 10,619.54 against Monday's close of 10,628.60.

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:

₹2049 • HDFC Bank

₹621 • Infosys

₹285 • ITC

₹146 • ONGC

₹1109 • Reliance Ind.

₹285 • SBI

₹1846 • TCS

10639 • Nifty 50 Futures

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

Today's Pick

Dabur India. Credits- Screengrab from @DaburIndia twitter account.

Traders can buy the stock of Dabur India at current levels  of ₹418.6. The outlook for the stock of Dabur India is bullish. The stock surged 4.7 per cent on Monday to close on a strong note. Traders can go long at current levels and also accumulate on dips at ₹415 and ₹410. Stop-loss can be placed at ₹402 for the target of ₹450. Read More

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