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Closing Bell
Domestic equity benchmark indices ended higher by 246 points in a day marked with big volatility. Equities moved back and forth on the back alternative buying and selling in equities.
The BSE Sensex jumped 450 points to 38,345.41 in the opening session taking cues from stronger global markets, and fell to a low of 37,737.85 during the day. It ended at 38,127.08, up 246.68 points, or 0.65 per cent, over yesterday's close.
At the BSE, it was interesting to note that the number of declining scrips were higher at 1,360 against the advancers at 1,107.
Similarly, the Nifty, on the NSE, after opening at 11,257.70, travelled between a high of 11,362.90 and a low of 11,189.40. It ended at 11,301.25, up by 66.70 points, or 0.60% over its previous close.
Sectors such as IT, healthcare, metal, auto, realty, and pharma gaining up to 1.50 per cent gave enough strength to overall markets.
Major gainers include Tata Motors, Cipla, ONGC, Infosys and Ultracemco that gained up to 4.50 per cent.
Top laggards were YES Bank, M&M, Reliance, TCS, HeroMoto Corp that fell up to 3.50%.
TCS down on muted quarterly growth
Shares of TCS slipped today after the IT services firm reported muted econd-quarter profit growth. Macroeconomic issues and a slowdown in the banking sector in the US and Europe, along with delays in retail sector deal executions, slowed down TCS’ second-quarter profit growth to a mere 1.8 per cent.
IndusInd Bank slips on profit taking
Shares of IndusInd Bank lost nearly 2.50% intraday despite the bank reported 50 per cent increase in its net profit in the second quarter of the fiscal with steady growth in income. However, it regained some of the lost ground and ended at Rs 1,223.25, down 0.45%, on the BSE
IndusInd Bank posted a net profit of ₹1,383.37 crore for the July to September quarter this fiscal, which was a 50.3 per cent increase from ₹920.25 crore in the same period a year ago. However, the bank’s asset quality weakened.
Welspun India gains on positive outlook
Shares of Welspun India rose nearly 0. 50 per cent to Rs 50 on the BSE today on positive outlook. The Hindu BusinessLine reported that the company, one of the largest suppliers of home textiles globally to retailers like Walmart, Costco and others, is looking to be debt-free over the next five years.
As per its latest annual report, Welspun India’s net debt stands at ₹3,028 crore. It has short term loans of ₹1,408 crore and long term debts of ₹1,902 crore.
Vedanta shares up over 4% eyeing quarterly results
Shares of Vedanta climbed 4 per cent on the BSE today on expectations that the company would show good results for the second quarter. Volumes traded in the counter were 7.75 lakh shares as at 3.15 pm, today.
NIFTY AUTO INDEX
Upper circuit shares on BSE
Auto sales continue to be on slow track in September: report
The automobile sales during the month of September saw a few positive trends owing to festive season offers, but still, they continue to fall on a yearly basis.
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Auto sector slowdown, widespread rainfall in Aug impacted GST mop-up, says Centre
Moody’s cuts India GDP growth forecast to 5.8%
International rating agency Moody's on Thursday announced the lowering of India's Gross Domestic Products (GDP) growth to 5.8 per cent. This is lowest projection after the Reserve Bank of India cut the GDP growth to 6.1 per cent earlier this month.
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Auto sales continue to be on slow track in September: report
According to the latest report by SIAM, all the categories reported decline in sales.
IndusInd Bank Q2 net up 50%
Private sector lender IndusInd Bank ’s net profit jumped by more than 50 per cent in the second quarter of the fiscal with steady growth in interest income. However, the bank’s asset quality weakened.
Stock Watch
Bandhan Bank shares surge 15%
Shares of Bandhan Bank soared nearly 15% today on the BSE as the microfinance company on expectations of better results as reported for the June quarter.
During the June quarter this year, Bandhan Bank posted over 45 per cent growth in net profit at ₹701 crore for the quarter ended June 30, 2019 against ₹482 crore same period last year.
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Bandhan Bank Q4 net up 68%
Lender likely to go in for OFS to reduce promoter stake: CEO
BMA Wealth Creators misappropriate Rs 100-crore worth client shares: NSE
SEBI has banned BRH Wealth Kreators (formerly BMA Wealth Creators) and its promoters from the stock market following the National Stock Exchange investigation found that missappropriation of Rs 100 crore from client accounts by the broking firm.
Welspun India rises 1% on hopes to become debt-free in 5 years
Shares of Welspun India rose nearly 1 per cent to Rs 50.05 on the NSE today. The Hindu BusinessLine reported that the company, one of the largest suppliers of home textiles globally to retailers like Walmart, Costco and others, is looking to be debt-free over the next five years.
As per its latest annual report, Welspun India’s net debt stands at ₹3,028 crore. It has short term loans of ₹1,408 crore and long term debts of ₹1,902 crore
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Welspun India eyes home textiles in India
Ropes in actor Amitabh Bacchhan as brand ambassador
Indiabulls Ventures to buy back shares worth up to Rs 1,000 cr
The board of directors of Indiabulls Ventures on Friday approved a proposal to buy back shares worth up to Rs 1,000 crore.
Tata Motors rally 2 per cent
Tata Motors stock rose today on the back of fresh buying by investors. It gained 2 per cent to Rs 119 on the BSE.
The company launched in association with digital agency WATConsult, the digital and social media agency from Dentsu Aegis Network, #LanguageOfHumanity aims to create awareness on the importance of considering sign language and stimulate the feeling of inclusivity.
HinduBusinessline reported that the company decided to vocalise its call to action for its brand Harrier, positioned as #AboveAll.
The idea was to spread awareness about the adoption of sign language as a means of communication and encourage equality.
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Why TCS missed Q2 targets
Tata Consultancy Services (TCS) reported weaker than expected Q2FY20 on both revenues and margins. The increasing complexity of deals, the impact of e-commerce on IT spends by traditional retail players in the US and higher costs related to hiring locally are weighing on the IT company, according to analysts.
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TCS may miss double-digit growth target this fiscal
Q2 profit growth slows down to 1.8%Related Stories
How long will this bear market last?
Indian equity market has been in a bear’s grip for 20 months now. How much longer will this last? To what low can prices fall? We analysed market corrections since 1979 to get some answers
India-China informal summit: PM Narendra Modi arrives in Chennai
Prime Minister Narendra Modi arrived in Chennai to attend the second informal summit with Chinese President Xi Jinping. The event will take place in Mamalllapuram on Friday and Saturday.
What to watch: Arvind SmartSpaces ties up with HDFC arm
Arvind SmartSpaces has entered into a strategic partnership with HDFC Capital Affordable Real Estate Fund 1 — a fund managed by HDFC Capital Advisors, a wholly-owned subsidiary of HDFC.
Tata Motors reinvents marketing strategies to woo car buyers
It was a little over a fortnight ago when Tata Motors tuned into ‘The International Day of Sign Language’ on September 23. The idea was to spread awareness about the adoption of sign language as a means of communication and encourage equality.
Default claims against brokers set to rise
Default claims worth several crores are piling up against brokers as they are finding it increasingly difficult to cope with the volatility in the market. Fairwealth Securities and Kolkata-based equity broker BMA Wealth are two examples,
The market leader Zerodha has no minimum brokerage fee per trade but a flat 0.01 percent or ₹20 per order whichever is lower. It also charges zero brokerage on delivery.
Company news: Bharat Heavy Electricals
Amid stiff international competitive bidding (ICB), Bharat Heavy Electricals Ltd has bagged an order for the turbine generator and associated packages
Broker's call: Oberoi Realty (Buy)
iCICI Securities
CMP: ₹494.35
Target: ₹577
After a lull in launch activity in H1FY20, Oberoi Realty has a number of launches lined up to coincide with the festive season in Q3FY20. Oberoi Realty has recently launched its Maxima tower at its JVLR, Andheri project (180 units priced between ₹3.5-4 crore) in the first week of October 2019
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Oberoi Realty: On favourable ground
Strong market presence and healthy prospects are positives for the companyWhat to watch: Infosys, Bajaj Consumer, ITI, Den results in focus
The respective boards of Bajaj Consumer Care, Den Networks, Infomedia Press, Infosys and ITI will meet on Friday to approve the financial results for the quarter ended September 30, 2019
What to watch: Century Textiles to turn ex-date for de-merger
The shares of Century Textiles & Industries will turn ex-date on Friday for the proposed de-merger. The company will hive off its cement division and merge it with UltraTech Cement.
IndusInd Bank stock sheds 2.35% on profit taking
Shares of IndusInd Bank lost nearly 2.50% today despite the bank reported 50 per cent increase in its net profit in the second quarter of the fiscal with steady growth in incoem.
IndusInd Bank posted a net profit of ₹1,383.37 crore for the July to September quarter this fiscal, which was a 50.3 per cent increase from ₹920.25 crore in the same period a year ago. However, the bank’s asset quality weakened.
LVB: Will it rise from the ashes like Dhanlaxmi Bank or go the GTB way?
Now that the Reserve Bank of India has rejected the proposal for the voluntary amalgamation of Indiabulls Housing Finance Ltd and its 100 per cent subsidiary, Indiabulls Commercial Credit Ltd, with Lakshmi Vilas Bank (LVB), the moot question is whether the latter will be able to rise like a phoenix like Dhanlaxmi Bank did, or meet Global Trust Bank's fate.
Rules for input tax credit tweaked
In an effort to curb the menace of fake invoices and boost cash flow, the government has limited the input tax credit (ITC) to be availed by Goods and Services Tax (GST) assessees, in case the details have not been uploaded by the supplier.
FM to ask RBI to ease withdrawal norms for PMC Bank depositors
Finance Minister Nirmala Sitharaman said on Thursday that she will speak to the Reserve Bank of India Governor Shaktikanta Das and convey the distress of depositors of Punjab and Maharashtra Cooperative Bank. The Finance Minister will request Das to consider expediting the withdrawal of funds by despositors. She also promised legislative changes, if required.
Moody’s cuts India GDP growth forecast to 5.8%
Slowdown concerns have pushed two agencies, Moody’s and India Ratings, to lower India’s growth projection sharply for the current year.
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RBI policy: Highest cumulative repo rate cut in 10 years
The repo rate was cut by 135bps so far in CY19. The last time the repo rate saw such a large cumulative cut in a year, was in 2009.Related Stories
At ₹92,000 crore, GST mop-up in September dives to a 19-month low
But analysts expect collections to pick up during festival seasonIRCTC IPO: How to check your allotment status
Are you one of the anxious IRCTC public issue investors awaiting your allotment status?
Then you can check your position in ipo.alankit.com using your PAN and application number details.
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IRCTC IPO allotment: What are your chances?
Allotment in the retail category is likely to be done through a lucky draw. There is a 12 per cent probability of one lot getting allotted to youDomestic equity benchmark BSE Sensex jumped 450 points and the Nifty rose over 100 points in the first one-hour trading on Friday, driven by gains in banking, metal, auto stocks and financial services, amid positive global cues.
Asian shares and U.S. stock futures rose after U.S. President Donald Trump said he would meet with China's top trade negotiator.
Analysts say that today's rally was to be seen after sharp fall yesterday.
Investors are selective in their approach to buying stocks as the credit rating agencies Moody's and India Rating has lowered the GDP growth to 5.8%.
The BSE benchmark Sensex was quoted higher by 431.70 points at 38,312.10
Similarly, th e Nifty, on the NSE, was up 110.40 pointa t 11,344.95
TCS shares dive nearly 3 per cent
Shares of TCS slipped today after the IT services firm reported muted econd-quarter profit growth. Macroeconomic issues and a slowdown in the banking sector in the US and Europe, along with delays in retail sector deal executions, slowed down TCS’ second-quarter profit growth to a mere 1.8 per cent.
TCS stock declined 2.76% to Rs 1,949.20 on the NSE today.
TCS shares dive nearly 3 per cent
Shares of TCS slipped today after the IT services firm reported muted econd-quarter profit growth. Macroeconomic issues and a slowdown in the banking sector in the US and Europe, along with delays in retail sector deal executions, slowed down TCS’ second-quarter profit growth to a mere 1.8 per cent.
TCS stock declined 2.76% to Rs 1,949.20 on the NSE today.
TCS reported consolidated net profit at ₹8,042 crore for the quarter ended September 30, against ₹7,901 crore in the year-ago period. Sequentially, the profit dipped 1 per cent. TCS’ operating margins for the quarter stood at 24 per cent, while net margins came in at 20.6 per cent.
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TCS may miss double-digit growth target this fiscal
Q2 profit growth slows down to 1.8%
NSE SECTORAL INDICES
Day Trading Guide for October 11, 2019
supports and resistances for Nifty 50 futures and seven key stocks such as HDFC BANK, INFOSYS, ITC, ONGC, RELIANCE, SBI and Nifty futures that can help in your intra-day trading
Read for technical analysis for these stocks
Asian shares rise after ‘very good’ US-China trade talks boost risk appetite
Asian shares and US (US) stock futures rose on Friday after US President Donald Trump said he would meet with China's top trade negotiator.
However, the sterling retreated after rallying on revived hopes of a possible Brexit deal.
Biocon (₹240.2)
Investors with a short-term perspective can buy the stock of Biocon at current levels. Following an intermediate-term downtrend, the stock found support...
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