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European markets
European shares rose on Tuesday helped by stronger defensive stocks as the focus turned to the start of the reporting season which is expected to deliver double-digit earnings growth for the third quarter. The pan-European STOXX 600 index was up 0.4 per cent by 0834 GMT. Read more
Closing bell
The S&P BSE Sensex closed higher by 297.38 points or 0.85 per cent at 35,162.48 and the Nifty50 up 72.25 points or 0.69 per cent at 10,584.75 on increased buying ahead of quarterly earnings from heavyweights and strengthening of rupee against the dollar. Lower crude prices and a firm global trend also aided the uptrend.
Intraday, the rupee strengthened by 26 paise to 73.57. Brent was trading 0.25 per cent lower at $80.58 a barrel.
All BSE sectoral indices ended in the green. Among them, oil & gas gained the most by 1.84 per cent followed by infrastructure 1.79 per cent, realty 1.36 per cent and PSU 1.28 per cent.
Major Sensex gainers were M&M, Adani Ports, ONGC, ICICI Bank and State Bank of India, while the major losers were HDFC Bank, Bajaj Auto, Maruti, Infosys and IndusInd Bank.
Companies like Infosys and Hero MotoCorp are slated to announce their financial results today. As per provisional data, domestic institutional investors bought shares worth Rs 294.78 crore, while foreign institutional investors made purchases worth Rs 67.86 crore on Monday.
MCX-Zinc
Zinc futures contract on the Multi Commodity Exchange had tested the key resistance level at ₹205 in the past week as expected. The contract made a high of ₹204.15 per kg on October 9 and has come-off sharply from there. The contract tumbled about 5 per cent from the high and is currently trading at ₹194 per kg. Read more
India attracts $22 bn FDI
India attracted $ 22 billion of FDI flows in the first half of 2018, according to a UN report which states that the global foreign direct investment dropped by 41 per cent in the same period due to tax reforms carried out by the Trump administration. Read more
Pre-close trade
Benchmark indices continued their uptrend on heavy buying in oil & gas, infrastructure, banking and capital goods stocks amid firm European cues.
The Sensex was trading higher by 232 points or 0.67 per cent at 35,097.10 and the Nifty up 61.6 points or 0.59 per cent at 10,574.10.
Top five Sensex gainers were M&M, ONGC, Adani Ports, State Bank of India and Axis Bank, while the major losers were HDFC Bank, Bajaj Auto, NTPC, Infosys, and PowerGrid.
Creation of fresh positions by speculators ahead of Infosys results later in the day boosted the domestic sentiment.
European shares rose led by stronger defensive stocks as the focus turned to the start of the reporting season which is expected to deliver double-digit earnings growth for the third quarter.
The pan-European STOXX 600 index was up 0.4 per cent by 0834 GMT, after hitting a 22-month low in the previous session on the back of risings U.S. Treasury yields and a mix of geopolitical tensions.
Bullion prices
Gold prices fell Rs 70 to Rs 32,180 per 10 gram owing to slackened demand from local jewellers amid a weak trend overseas. Silver followed suit and eased by Rs 50 to Rs 39,700 per kg on lower demand from industrial units and coin makers. Read more
NIIF invests Rs 660 cr in H-CARE 2
(file photo)
NIIF’s Fund of Funds has invested Rs 660 crore in HDFC Capital Affordable Real Estate – 2. The investment is done along with a wholly-owned subsidiary of one of NIIF’s shareholders - the Abu Dhabi Investment Authority. Read more
MCX gold, silver
Gold prices rose 0.11 per cent to Rs 32,102 per 10 grams at the futures trade due to building up of fresh positions by participants despite weak global cues. Silver prices increased by Rs 19 to Rs 39,205 per kg. Read more
BSE sectoral indices
Oil & gas gained the most by 1.95 per cent followed by banking 1.3 per cent, infrastructure 1.28 per cent and PSU 1.28 per cent.
NSE sectoral indices
Top 10 Nifty gainers, losers
Sensex gainers, losers
Benchmark indices jumped nearly one per cent due to creation of fresh positions by traders ahead of Infosys results later in the day. Positive global cues also fuelled the uptrend.
The broader NSE index was up 74.8 points or 0.71 per cent at 10,589.30, with IndusInd Bank as the top percentage gainer after it reported a 4.6 per cent jump in September quarter profit. The benchmark BSE index was trading higher by 292.64 points or 0.84 percent higher at 35,157.74.
Infosys shares rose over 1 per cent amid hopes of the company posting strong results for the September quarter. Bigger rival Tata Consultancy Services Ltd set the tone for the season last week, but analysts remained concerned over its margins.
Asian stocks rose modestly, gaining a firmer footing after a week of heavy losses, although increasing tensions between Saudi Arabia and the West have fanned geopolitical concerns and capped gains.
Domestic markets are on track for their third consecutive session of gains after a global rout on Thursday had put the NSE index on to its worst start to the October quarter in a decade.
“Selling pressure in the market has come down... Results so far are on expected lines. Market is on the recovery path, nothing to read beyond that,” said Deven Choksey, founder, KR Choksey Investment Managers.
SBI Life: A good cover
The stock of SBI Life has fallen 17 per cent over the past month. From its April peak of ₹766, it is down little over 25 per cent. At the current price of ₹551, the stock is well below its IPO price of ₹700. Given the overall sound long-term prospects of the industry, SBI Life’s healthy profitability, leading market share, diverse product portfolio and strong distribution network, the sharp fall in the stock price provides a good entry point for long-term investors. Read more
Oil marketing cos: Value in the pipeline
The Indian Oil stock now trades at about fives times trailing 12-month earnings, compared with the three-year average of 10 times. Similarly, the stocks of HPCL and BPCL are trading at about four times and 5.5 times, much lower than their three-year averages of about 8.5 times and 12 times. Does this sharp fall present a buying opportunity? Click here to read more
Your stock portfolio
The stock of Power Finance Corporation had encountered a key long-term resistance in the range between ₹165 and ₹170 in 2014 and again in 2017, and subsequently reversed direction. Since testing this key resistance band in May 2017, the stock has been on a long-term downtrend. Read more
Zee Media rallies 17%
Shares of Zee Media Corp Ltd jumped as much as nearly 17 per cent to Rs 29.90, in their biggest intraday percentage gain in over three weeks. More than 2.5 million shares changed hands, 9.2 times their 30-day moving average of 274,587 shares. Read more
Future Retail stocks spurt nearly 5%
Shares of fast moving consumer goods company, Future Retail Ltd, rose as much as 4.7 per cent to Rs 454 as Amazon.com Inc is likely to buy an at least 7-8 per cent stake in Future Retail Ltd through an investment arm. Read more
LME copper drops over 1%
Nifty 50 October Futures (10,565)
Nifty 50 futures contract rallied, breaking above the key resistance level of 10,520. The contract made a high of 10,597 and has come-off from there. A dip to 10,535 or 10,515 is likely now. Read more
China, HK stocks slip
China and Hong Kong stocks shed earlier gains to edge lower, after data showed factory-gate inflation had cooled for a third straight month in September amid lean domestic demand, reflecting more pressure on the world's second-biggest economy. Read more
Pre-noon trade
The Sensex was trading higher by 221.58 points or 0.64 per cent at 35,086.68 and the Nifty up 45.1 points or 0.43 per cent at 10,557.60 due to creation of fresh positions by traders ahead of quarterly earnings from Infosys and a few blue-chip companies later in the day.
Top five Sensex gainers were M&M, ICICI Bank, Axis Bank, ONGC and HDFC, while the major losers were ITC, NTPC, Wipro, Sun Pharma and PowerGrid.
Among BSE sectoral indices, banking gained 1.12 per cent followed by capital goods 0.94 per cent, consumer durables 0.85 per cent and metal 0.71 per cent.
Brent crude jumps to $81.05
Oil prices rose on signs Iranian oil exports this month have fallen from September ahead of US sanctions against Tehran that are set to start in November. International benchmark Brent crude for December delivery rose 27 cents, or 0.33 per cent, to $81.05 per barrel by 0325 GMT. U.S. West Texas Intermediate crude for November delivery was up 12 cents at $71.90 a barrel. Read more
Hathway, DEN Networks rally 8%
Technicians of Hathway Cable and Datacom Private Limited replacing the existing wire with optic fibres on Spur Tank Road at Egmore in Chennai June 26, 2003, after their service was disrupted in most part of Chennai from June 25, 2003, allegedly by saboteurs
Photo: Vino John.
Shares of cable TV and broadband service providers Hathway Cable & Datacom and DEN Networks Ltd jumped 8.16 per cent and 7.82 per cent, respectively as RIL eyes a controlling stake in the two companies. Read more
South Indian Bank rallies to 3-year high
Shares of South Indian Bank rallied as much as 16.7 per cent to Rs 14.7, in their biggest intraday percentage gain in over three years as the September-quarter profit surged to Rs 70.13 crore ($9.49 million) from Rs 4.32 crore a year earlier. Read more
Indiabulls Housing shares jump 3%
Share of Indiabulls Housing Finance jumped as much as 3 per cent to Rs 976.80 as the mortgage lender had on Mondday posted 21.5 per cent rise in September quarter profit of Rs 1,044 crore ($141.28 million). Read more
Rupee weakens to 73.93
The rupee weakened by 10 paise to 73.93 against the US dollar on increased demand for the American currency from banks and importers. At 10.55 am, the rupee was trading weak at 73.92. Read more
10.45 am
Gold stays near 2-1/2-month high
Gold prices held steady on Tuesday near last session's 2-1/2-month high as risk-averse investors sought refuge in the metal amid rising political tensions and economic uncertainty. Spot gold was little-changed at $1,226.11 an ounce at 0353 GMT. Read more
Top 10 Nifty gainers, losers
Sensex gainers, losers
The S&P BSE Sensex surged over 325.21 points to intraday high of 35,190.31 as traders widened their positions ahead of quarterly earnings from Infosys and a few other blue-chip companies later in the day. Similarly, the Nifty jumped 87.1 points to 10,599.60 against the previous close of 10,512.50.
Brokers said increased buying by investors ahead of quarterly earnings from Infosys and a few other bluechip companies later in the day and a firm trend in Asian markets boosted the domestic sentiment.
As per provisional data, domestic institutional investors bought shares worth Rs 294.78 crore, while foreign institutional investors made purchases worth Rs 67.86 crore on Monday.
10.15 am
Cochin Shipyard buyback
Cochin Shipyard will meet today to consider a proposal for buyback of equity shares of the company. The meet was supposed to take place on October 5 but got rescheduled. Investors would be keen to know the buyback size and price. Shareholders would also eye the mode of buyback - whether through open market purchase or via tender offer route. The PSU Defence company hit the market in August 2017 at an IPO price of ₹432. _ Our Bureau
Lupin shares jump nearly 2%
Lupin shares were trading up by 1.81 per cent at Rs 896.35 on the BSE as the company has received tentative approval for its Lurasidone Hydrochloride tablets from the US Food and Drug Administration to market the generic version of Sunovion Pharmaceuticals’ Latuda tablets. Read more
Avenue Supermarts
Market gave thumbs down to Avenue Supermarts after Q2 results. The company shares were trading down 0.29 per cent at Rs 1,329.35 on the BSE. The stock slumped 5.50 per cent to end at ₹1,333.15 on the BSE after hitting the day’s low of ₹1,310 on Monday. According to analysts, though the company has posted strong revenue growth, it is feeling the pressure on margins. Click here to read more
Broker's call
JMFL
Avenue Supermarts (Buy)
CMP: ₹1,333.15
Target: ₹1,725
The S&P BSE Sensex surged 232.81 points or 0.67 per cent to 35,097.91 and the Nifty50 jumped 59.85 points or 0.57 per cent to 10,572.85.
All BSE sectoral indices were trading in the green. Among them, realty gained the most by 1.31 per cent, followed by auto 1.12 per cent, consumer durables 1.00 per cent and banking 0.89 per cent.
Top five Sensex gainers were Asian Paints, IndusInd Bank, Adani Ports, M&M and HUL, while the major losers were Wipro, PowerGrid, TCS, Kotak Bank and ITC.
Export growth declines
Sectoral export promotion strategies are meant to increase India’s exports of high-value items. At present, low-value items witness a higher quantum of exports
After a positive run in the first five months of this fiscal, the country’s goods exports fell 2.15 per cent to $27.95 billion in September 2018. In the first six months of the current fiscal, exports posted a growth of 12.5 per cent in dollar terms. Read more
Opening bell
The 30-share BSE index Sensex opened at 34,942.92 points, up 77.82 points, against the previous close of 34,865.10 points. The 50-share NSE index Nifty opened 21.60 points up at 10,534.10 against the previous close of 10,512.50 points.
What to watch
Businessman and businesswoman working in office
Nine companies, including Infosys will declare their quarterly results for the period ended September 2018 on Tuesday. Here's more
9.00 am
Today's Pick
We recommend a buy in the stock of KPIT Technologies at the current levels of ₹218.7. The stock moved past a key resistance at ₹205. Stop-loss can be placed at ₹214. Read more
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