Markets Live: Sensex ends down 181 points on late sell-off

SEBI’s move to reclassify mutual funds with specific definitions for mid-caps also seems to have contributed to the correction Vivek Bendre

Index made a high of 34,748 at open

4.00 pm

The BSE Sensex gave up all its early gains of over 435 points to end 181 points lower at 34,134.38 on Monday, due to late sell-off in oil & gas, consumer durables, PSU, IT and infrastructure stocks amid crude again rising past $80 a barrel.

The 30-share Sensex after a gap up opening at 34,689.39 points advanced to a high of 34,748.69 points in early session on the back of better-than-expected earnings from HDFC Bank, positive cues from Asian markets and recovery in the rupee.

However, emergence of selling in the last one hour of trading, it slipped into the negative zone to hit a low of 34,082.76 before ending at 34,134.38, registering a fall of 181.25 points or 0.53 per cent.

The index had lost 847 points in the previous two sessions on liquidity concerns as well as weak global cues.

Similarly, the NSE Nifty after shuttling between 10,408.65 and 10,224 points, ended down by 58.30 points, or 0.57 per cent, at 10,245.25.

 

Sensex chart

 

Top Losers

 

 

Top Gainers on BSE

 

Sensex Intraday Chart

Sensex intraday chart

BSE Indices

 

3.35 pm

Rupee down 14 paise

The rupee declined in late deals on Monday on renewed dollar buying by importers coupled with the weakness in the equity markets.  At 3.30 pm, the domestic currency was quoted at 73.46, down 12 paise from its previous close of 73.32.

At the Interbank Foreign Exchange, the rupee opened lower at 73.36, touched an intraday high of 73.19. However, improved dollar demand exerted pressure on the rupee, and hence fell to 73.46.

During intraday, weakness in the dollar against a few currencies overseas and early gains in domestic equities gave some support to the rupee. Later, fresh demand for dollars dragged the rupee lower. The sentiment has also turned weak after domestic equities saw fresh selling pressure in late session.

 

 

Sensex sheds 211 points on fresh selling

At 3.10 pm, the Sensex was quoted at 34,104 points, down by 211 points. The Nifty also declined 56 points at 10,246. Markets saw fresh bouts of selling as traders unwound their positions booking profits at higher levels traded in the morning trading session.

Sensex intraday

 

3.05 pm

Unichem stock rises 4% on USFDA nod for mfg facilities

Unichem has informed the stock exchanges that its API manufacturing facilities at Pithampur and Roha have received Establishment Inspection Reports (EIR) from the USFDA indicating closure of inspections at both the manufacturing facilities.

Following this news, the stock has achieved 4% gain  at Rs 215.45 on the NSE today.

UNICHEM Intraday Chart

Unichem intraday graph

 

2.50 pm

Sensex down  in late session

The BSE Sensex gave up almost all the gains it made earlier and was quoted lower at 34,267, down 47 points. Similarly, the Nifty, on the NSE, also declined by 24 points to 10,279 in late deals. The indices fell mainly triggered by late selling in large cap stocks and as well as in mid-cap stocks.

Stocks that dragged the markets were infy, TCS, M&M, Tata Steel, YES Bank and Kotak Bank.

SENSEX CHART

BSE Sensex graph

 

2.35 pm

After opening sharply higher in the opening trading session, the markets gave up most of the gains and was held steady later despite some largecap stocks were seen giving up their initial gains

The Sensex was at 34.408, up 93 points, while the Nifty gained 20 points at 10,323.

With the exception to IT and media stocks, all the other sectoral indices have scored gains between 0.50% and 1 per cent.  (see table)

Nifty Sectoral Indices

Nifty Sectoral Indices

 

 

Sensex intraday chart

 

S&P BSE 100 stocks

 

2.15 pm

Vedanta board meets on Oct 31 for dividend

Vedanta Board would meet on October 31, 2018, to consider declaration of interim dividend, if any, amongst other matters. The record date for the purpose of determining the entitlement of the  interim dividend, if declared,to shareholders, has been fixed as November 10.

The stock was quoted higher by 3.20% at Rs 218 on the BSE today.

Vedanta intraday graph

Vedanta chart

 

 

2.05 pm

Foreign returns: US-focussed funds trump domestic equity schemes

Upbeat US economy and rising interest rates have driven massive flows into that market. Read more on this

 

2 pm

Rupee stuck in a narrow range

The rupee was quoted lower at 73.35 versus the dollar in the mid-session. It closed on Friday at 73.32.

1.55 pm

IndusInd Bank down 2.50%, hits 15-month low

IndusInd Bank Ltd's shares fell as much as 2.45 per cent to Rs 1,538, its lowest level since July 26, 2017.

The stock has broken below the key support level at Rs 1,565.85, the 38.2 per cent Fibonacci retracement of the uptrend from Feb. 29, 2016 low to August 3, 2018.

In the near-term, stock has support at Rs 1,510.05 and Rs 1,452.65, the 38.2 per cent and 50 per cent Fibonacci projection levels of the downtrend from August 3 high to Oct. 4 low (wave A)

The stock has cut below its Parabolic SAR, which was seen as unfavorable. The 50-day exponential moving average had also cut below its 200-day EMA earlier this month, which was a bearish signal.

 

1.40 pm

Stock market indices were seen hovering in the green in the mid-session. Indices faced strong resistance around high point of the day. Large cap stocks were mixed in their movements. While ICICI Bank, NTPC, Vedanta, Maruti, Bajaj Auto and HDFC Bank have posted gains between 1 per cent and 3 per cent, while others such as TCS, Infy, Asian Paint, Tata Steel, Tata Motors and YES Bank made losses as much as 1.5% during the day.

Large-cap Stocks

Sensex Large-cap stocks

 

1.20 pm

Camlin Fine Sciences board to consider results on Nov 6

The board of directors of Camlin Fine Sciences would hold a meeting on November 6 to considerand approve the standalone and consolidated unaudited financial results for the quarter ended September 30, 2018.

The Camiln Fine stock was up 0.30% at Rs 47.75 on the NSE today.

1.05 pm

Nifty Call: Go short below 10,300 with stop-loss at 10,320

The Nifty 50 futures contract is trading volatile. The index opened with a wide 100-point gap-up at 10,405 but failed to sustain higher. The contract fell-back sharply to make a low of 10,277 and has bounced higher from there again to the current levels of 10,338. The near-term outlook is mixed. The contract has been range bound between 10,245 and 10,400 over the last few days. Read more...

 

12.40 pm

Tejas Networks stock down 2% despite Sterlite Tech order

Tejas Networks today announced that it has received a purchase order of Rs 111 crore for Indian Navy’s wide next generation digital communications network from Sterlite Technologies Ltd, a global data network solutions company. As a part of this order, Tejas Networks will supply its state-of-the-art terabit capacity DWDM systems and high-performance Layer-3 Multi Gigabit Ethernet switches, for this pan-India network.

The stock of Tejas Networks was down 2 per cent at Rs 271.50 on the NSE.

Tejas Network intraday chart

 

12.35 pm

In the mid-session, the BSE Sensex was trading 175 points higher at 34,490. On the NSE, the Nifty gained 46 points at 10,349.

 

NSE INDICES Oct 22

 

12.20 pm

Alembic Pharmaceuticals Ltd announces successful USFDA inspection at Aleor Dermaceuticals Ltd; stock up over 1%

Alembic Pharma informed the exchanges that Aleor Dermaceuticals Ltd (Aleor), a 60:40 Joint Venture between Alembic Pharmaceuticals Ltd (Alembic) and Orbicular Pharmaceutical Technologies Pvt Ltd (Orbicular), has successfully cleared its first United States Food and Drugs Administration (USFDA) inspection of its new formulation manufacturing facility located at Karakhadi, Gujarat without any observations.

The stock of Alembic Pharma went up by over 1 per cent Rs 615 on the BSE.

Alemic Pharma intraday chart

 

 

11.55 am

Sensex, Nifty hold on to gains

At 11.55 am, the BSE Sensex was quoted at 34,459, gaining 143 points, while on the NSE, the Nifty was up 35 points at 10,338.

Sensex Chart

Sensex intraday graph

 

11.45 am

Axis Bank informed the stock exchanges today that it has paid the interest due on Senior Unsecured Redeemable Non-Convertible Debentures. The stock was trading higher by 1.15% at Rs 569 on the NSE.

Axis Bank Intraday chart

 

11.40 am

Heritage Foods to announce Q2 results on Nov 2

Heritage Foods informed the stock exchanges that it would hold a conference meet on November 2 to announce the Q2 results.

 

11.35 am

New order report fails to support Gayatri Projects; stock down nearly 2%

Gayatri Projects Ltd has informed the NSE today regarding that the company has bagged three new orders worth Rs 403.96 crore from Bihar State Road Development Corporation Ltd (BSRDC). However, the stock was down nearly 2 per cent at Rs 166.50 on the NSE today.

11.20 am

Among the pharma stocks, Biocon, Aurobindo Pharma, Cadila Health made notable gains. The stock of Biocon rose over 3% at Rs 680.50, Auro Pharma gained over 2% at Rs 764.20 and Cadila Healthcare was up 1% at Rs 376.

The BSE Sensex Next 50 index gained 88 points at 30,498.

 

 

11 am

Indiabulls Housing Finance hogs limelight

At 11 am, the BSE Sensex was trading at 34,389, up by 72 points, while on the NSE, the Nifty gained 15 points at 10,318.55.

Some of the prominent gainers among the large-caps today were Indiabulls Finance, which rose 8% at Rs 706.60, ICICI Bank was up 2.65% at Rs 323.25, M&M Fin, up 2.60% at Rs 365, Bajaj Finance gained 2.45% at Rs 2,193. However, Yes Bank, ONGC, UltraCemCo, BPCL and IndusInd Bank shares have met with selling pressure, and lost between 2 and 3 per cent.

Shares of Indiabulls Finance went up after the company issued a release to the BSE, which stated that it has made the interest payment for the NCDs on the due date.

Indiabullls Housing Finance gained 7.60% at Rs 704 on the BSE.

Indiabulls Housing Finance chart

 

 

SENSEX HEATMAP

 

Large-cap Stocks

 

 

10.40 am

At 10.35 am, the BSE Sensex was quoted at 34,418, up 102 points, while the Nifty was up 26 points at 10,329.90.

 

 

10.35 am

HDFC Bank stock hits near 3-week high

Private sector lender HDFC Bank's shares rise as much as 2.66 per cent to Rs 2,020, its highest level since October 3

The stock gained today after the company reported record profit of Rs 5,005 crore for the September quarter on Saturday, helped by higher interest and fee income.

The company’s asset quality was largely stable in the quarter with gross gross bad loans as a percentage of total loans at 1.33 per cent.

Analysts at Morgan Stanley had said the bank didn't disclose exposure to IL&FS, but sounded confident about its corporate loan portfolio; retain 'overweight' rating with a price target of Rs 2,550.

 

10.15 am

The BSE Mid-Cap index suffered marginal losses today. The index was down nearly 1 per cent today due to a sell-off in counters such as Emami, Pfizer, Rain Industries, Mindtree, Edelweiss, RBL Bank and Indigo. 

The BSE Mid-Cap index was down by 0.90 per cent at 4,405 today.

 

 

10.05 am

At 10.05 am, the BSE Sensex was trading higher by 91 points at 34,406 levels mainly led by larg-cap stocks such as ITC, HDFC Bank, SBI, Adani Port, Sun Pharma, Hero MotoCorp, HUL and Maruti.

On the NSE, the Nifty also pared some of its gains and was quoted at 10,330.60, up by 27.05 points.

NSE SECTORAL INDICES

 

 

10 am

Rupee up 6 paise against dollar

The rupee strengthened by 6 paise to 73.26 against the dollar in early trade Monday on increased selling of the US currency by exporters and banks amid easing crude prices.

Forex dealers said weakness in the dollar against a few currencies overseas and early gains in domestic equities gave some support to the rupee.

At the Interbank Foreign Exchange, the rupee opened lower at 73.36 and dipped further to 73.38 but soon recovered the lost ground and rose to 73.26 on increased selling of the American currency by exporters and banks.

On Friday, the rupee had settled 29 paise higher at 73.32 against the US dollar, amid a weakening greenback.

Globally, Brent crude, the international benchmark was trading 0.44 per cent down at $79.65 per barrel.

 

 

9.45 am

HDFC Bank, SBI in limelight; RBI Bank down over 7%

Banking index rose 0.55 per cent today on the back of buying interest in SBI, HDFC Bank, ICICI Bank and IndusInd Bank.  However, Axis Bank, Yes Bank and Bank of Baroda traded lower between 0.50% and 2 per cent today.

The RBI Bank stock was the worst hit today having lost 7.25% or Rs 36.80 at Rs 469.

BANKNIFTY INDEX

 

 

9.30 am

BSE benchmark Sensex rose over 400 points in the opening session on Monday following gains in banking, pharma, auto and oil & gas stocks.

The 30-share index spurted to a high of 34,748.69 before trading at 34,455.61, up 139 points or 0.41%.

The NSE Nifty too was up by 46 points, or 0.45 per cent, at 10,350. The index touched a high of 10,408.55 at open.

Sectoral indices, led by capital goods, auto, oil and gas, metal and healthcare, rose up to 1.50 per cent.

SENSEX CHART

 

 

9.25 am

Rupee trades flat

The rupee was trading flat on Monday showing a lacklustre movement. At 9.25 am, the rupee was at 73.33 against the previous close of 73.32. It opened slightly lower at 73.36 today.

09.20

Rupee-Dollar Chart

 

9.10 a.m

Sensex zooms 373 points at 34,689 points at open.  The Nifty on the NSE was up 102 points at 10,405

Sensex Chart

NSE GAINERS AT OPEN

NSE GAINERS

NSE LOSERS AT OPEN

NSE LOSERS

 

9 a.m.

Asian share markets pared early losses on Monday as Chinese stocks swung higher for a second session and helped offset geopolitical concerns over Saudi Arabia, Italy and Brexit. Read more...

Index outlook: Key supports may come into play

Last week’s initial rally in the domestic equity market failed to gain momentum. Instead, the indices plunged sharply towards the end of the week, triggered by a sharp fall in NBFC stocks. The ongoing NBFC turmoil can continue to rattle the markets and, hence, the benchmark Sensex and Nifty may remain volatile in the coming week as well. Read more...

Weekly trading guide

SBI continued to trade in a sideways range between ₹255 and ₹280 for the third consecutive week. Though the near-term outlook remains mixed, the price action on the charts leaves the bias negative. The long wicks on the weekly candle chart indicate that the stock is getting strong sellers above ₹270. Read more...

Published on October 22, 2018