Markets Live: Sensex ends lower by 176 points; Nifty closes below 11,200

3.55 pm

Closing bell

The S&P BSE Sensex closed lower by 176.27 points or 0.52 per cent at 33,891.13 and the Nifty50 closed down 52.45 points or 0.51 per cent at 10,198.40 on heavy selling in oil & gas, metal and banking stocks amid weak global cues.

 

 

Top five Sensex gainers were Infosys, HUL, State Bank of India, TCS and Tata Motors, while the major losers were IndusInd Bank, Coal India, Reliance, Sun Pharma and PowerGrid.

As per provisional data, foreign portfolio investors sold shares worth Rs 2,230.79 crore on Monday, while domestic institutional investors bought shares to the tune of Rs 2,526.90 crore.

3.45 pm

European shares

 

European shares swung back into negative territory after a strong start, buckling under the weight of disappointing earnings updates as strains rippled through the airline, banking and construction sectors. Read more

3.35 pm

Bullion prices

 

Gold prices rose Rs 70 to Rs 32,620 per 10 gram due to increased festive demand. Silver, however, declined by Rs 260 to Rs 39,240 per kg due to tepid demand from industrial units. Read more

3.20 pm

SEBI issues directive to suspected shell cos

 

SEBI has asked over a dozen suspected shell companies to extend cooperation to ensure completion of forensic audits in a time-bound manner, failing which they would face stringent trading curbs. The forensic audit is being conducted by independent auditors appointed by stock exchange on the direction of the markets watchdog. Read more

3.10 pm

Viteos Capital Market Services, provider of global outsourced operations solutions for traditional and alternative asset managers as well as private equity and venture capital firms, has entered Chennai. Read more

3.05 pm

Pre-close trade

The S&P BSE Sensex was trading lower by 200.71 points or 0.59 per cent at 33,866.69 and the Nifty50 down 39.5 points or 0.39 per cent at 10,211.35 as gains in IT, TECk and capital goods stocks were offset by losses in oil & gas, metal and banking stocks.

 

HPCL, BPCL, Cipla and Coal India were among the major Nifty losers, while the top gainers were Tech Mahindra, Zee Entertainment, Grasim and Infosys.

 

2.55 pm

AGS Transact IPO

 

AGS Transact Technologies has received approval from the Securities and Exchange Board of India to mop up Rs 1,000 crore through an initial public offer. Read more

2.45 pm

Glenmark shares down 0.3%

Glenmark’s manufacturing facility at Baddi, India

 

Glenmark Pharmaceuticals has received final approval from the US health regulator for generic version of Derma-Smoothe Topical Oil, used in the treatment of scalp psoriasis. The company shares were trading down 0.33 per cent at Rs 602.85 on the BSE. Read more

2.30 pm

China shares gain over 1%

Investors talk in front of an electronic board showing stock informations at a brokerage house in Kaifeng, Henan province, April 9, 2015. China stocks lost ground on Thursday, as mainland investors rushed to buy relatively cheaper Hong Kong shares, but some key sectors such as property found support from bargain hunters. REUTERS/China DailyCHINA OUT. NO COMMERCIAL OR EDITORIAL SALES IN CHINA   -  Reuters

 

Chinese shares rebounded after securities regulator pledged to enhance the market liquidity, but comments from US President Donald Trump that new tariffs on China are “waiting to go if we can't make a deal” underscored market uncertainty over trade. Read more

2.15 pm

Asian Paints: Less colourful Q2

 

Asian Paints declined about 4 per cent following its quarterly earnings. The steady increase in raw material costs has impacted its margins. The continued increase in crude oil prices has resulted in spiking the cost of titanium dioxide. Read more

2.05 pm

Nikkei jumps to 2-1/2 month high

MSCI's broadest index of Asia-Pacific shares outside Japan climbed 0.3 per cent. File Photo   -  Reuters

 

The Nikkei share average ended 1.5 per cent higher at 21,457.29 points, posting the biggest daily gain since mid-August as investors bought beaten-down cyclical stocks and firms which are raising profit forecasts, tempering fresh worries about US-China trade frictions. Read more

1.55 pm

Top 10 Nifty gainers, losers

 

1.45 pm

Benchmark indices gave up early gains to trade slightly lower, with falls in energy stocks outweighing gains in the IT sector and an extended rally in public sector banks driven by corporate earnings optimism.

In a day of volatile trade, the broader NSE index was down 18.5 points or 0.18 per cent at 10,232.35, while the benchmark BSE index was lower by 71.83 points or 0.21 per cent 33,995.57. This follows a day of hefty gains, when both indexes closed at least 2 per cent higher.

Heavyweight Reliance Industries, owner of the world's biggest refining complex, weighed down the most on the index on Tuesday, with the stock falling as much as 2.2 per cent.

Shares of Bharat Petroleum Corp Ltd fell as much as 4.8 per cent after the company's September-quarter profit nearly halved, hurt by higher expenses on account of forex losses.

Meanwhile, financials continued to boost, with top lender State Bank of India adding to gains posted in the previous session, climbing as much as 2.9 per cent to a near three-week high.

A couple of banks have come out with a good set of results, so there is optimism on earnings growth in corporate banks, said Neeraj Dewan, director at Quantum Securities.

The Nifty PSU Bank index rose as much as 3.1 per cent to its highest level since September 21. Union Bank of India posted a surprise quarterly profit on Monday as it set aside lower provisions for bad loans. Shares of the state-run lender jumped 7.4 percent in the current session.

The Indian rupee slipped to a one-week low of 73.628 against the dollar, boosting software services exporters such as Infosys Ltd and Tata Consultancy Services. The Nifty IT index rose as much as 2.2 percent. Infosys climbed 2.7 per cent, while TCS advanced 1.8 per cent.

1.30 pm

Automotive Axles

The market correction so far in 2018 has beaten down several mid- and small-cap stocks sharply. The Automotive Axles stock is one such. Even as prospects remain strong, the stock has corrected about 40 per cent from its one-year high of ₹1,826 touched in end-January this year.  Read more

1.15 pm

CPCL drops to over 3-week low

A view of the project at CPCL’s Manali refinery   -  The Hindu

 

Shares of Chennai Petroleum Corp Ltd dropped as much as 6.75 per cent to Rs 245.15, marking their biggest intraday percentage loss in more than three weeks as expenses have hurt the company’s Q2 profit. Read more

1.05 pm

Nifty 50 November Futures (10,265)

 

After rallying over 2 per cent on Monday, the Nifty 50 futures contract seems to be losing momentum. The resistance near 10,320 is holding well as of now and has halted the upmove. The contract made a high of 10,315 and has come-off from there. Read more

12.55 pm

The Sensex was trading down 7.74 points or 0.02 per cent at 34,059.66 and the Nifty down 4.05 per cent or 0.04 per cent at 10,246.80. Trading remained highly volatile.

Top five Sensex gainers were State Bank of India, Infosys, TCS, HUL and YES Bank, while the major losers were Reliance, IndusInd Bank, Coal India, Sun Pharma and HDFC.

 

12.45 pm

SBI hits 3-week high

 

SBI shares today hit near 3-week high, and technicals suggested more upside. The stock jumped as much as 2.89 per cent to Rs 275.65, its highest since October 10. Read more

12.30 pm

The Sensex fell 141.6 points or 0.42 per cent to 33,925.80 and the Nifty dropped 38.65 points or 0.38 per cent to 10,212.20 on heavy selling in oil & gas, metal, metal, power and healthcare stocks. However, IT, TECk, capital goods and PSU remained investors' favourite.

Top five Sensex gainers were State Bank of India, Infosys, TCS, YES Bank and Tata Motors, while the major losers were Coal India, Reliance, IndusInd Bank, Tata Steel and Sun Pharma.

12.20 pm

BPCL falls to 1-week low

 

Shares of Bharat Petroleum Corp Ltd fell as much as 4.2 per cent to Rs 265.75, lowest in a week, as the company’s Q2 profit missed estimates. The stock was the top percentage loser on NSE index. Read more

12.05 pm

LME copper falls to $6,145/tonne

 

Three-month copper on the London Metal Exchange had slipped 0.2 per cent to $6,145 a tonne by 0338 GMT, having ended the previous session flat with support from tumbling inventories. Read more

11.55 am

Bright prospects for Havells India

FILE PHOTO

 

Investors with a long-term investment horizon can buy the stock of Havells India. With the broader market correction, the stock of Havells India has dropped 16 per cent since August to ₹602 now. At the current market price, the stock discounts its estimated earnings for 2019-20 by 36 times. Read more

11.45 am

Sensex gainers, losers

Top 10 Nifty gainers, losers

11.35 am

Spot gold edges down to $1,227.92

 

Gold prices edged down as the US dollar firmed on renewed fears of an intensification in the Sino-US trade war and worries over slowing global economic growth. Spot gold was down 0.1 per cent at $1,227.92 an ounce at 0400 GMT. Read more

11.25 am

The Sensex and Nifty were trading marginally lower in a highly volatile trade due to weak global market cues amid escalating trade tensions between the US and China, and heavy selling by foreign portfolio investors.

Global investor sentiment turned volatile on reports that the United States was preparing to announce tariffs on all remaining Chinese imports by early December if talks next month between presidents Donald Trump and Xi Jinping fail to ease the trade war.

Traders also took cues from foreign portfolio investors who sold shares worth Rs 2,230.79 crore on Monday.

The Sensex was down 69.15 points or 0.2 per cent at 33,998.25 and the Nifty down 19.2 points or 0.19 per cent at 10,231.65.

11.10 am

Lighthouse Fund invests Rs 160 cr in Duroflex

Lighthouse Fund has invested ₹160 crore ($22 million) in Duroflex. The company plans to use the proceeds to fund its expansion plans. ICICI Securities was the financial advisor to the company for the fund-raise. Read more

10.55 am

Brent crude falls to $77.05

IEA says fuel demand could take a hit. File Photo   -  Reuters

 

Brent oil prices dipped due to ongoing weakness in global stock markets and by signs of rising global supply despite looming sanctions on Iran's crude exports. Front-month Brent crude oil futures were at $77.05 a barrel at 0428 GMT, down 29 cents, or 0.4 per cent, from their last close. Read more

10.40 am

Dollar holds firm

The Japanese yen weakened versus the dollar on Monday. File Photo   -  Reuters

 

The dollar held most of its overnight gains against a basket of its key rivals, with Tuesday's trade supported by a safe haven bid as fresh worries over Sino-U.S. frictions and fears of a slowdown in global economic growth sapped investors' confidence. The dollar index traded at 96.66, up 0.1 per cent. Read more

10.30 am

The Sensex was trading higher by 80.92 points or 0.24 per cent at 34,148.32 and the Nifty up 28.3 points or 0.28 per cent at 10,279.15 on heavy buying in IT, TECk, auto and consumer durables stocks amid weak global cues. However, oil & gas, power and metal stocks succumbed to selling pressure.

 

Top five Sensex gainers were Tata Motors, Infosys, State Bank of India, YES Bank and Adani Ports, while the major losers were Coal India, Reliance, PowerGrid, IndusInd Bank and Tata Steel.

 

Global investor sentiment turned volatile on reports that the United States was preparing to announce tariffs on all remaining Chinese imports by early December if talks next month between presidents Donald Trump and Xi Jinping fail to ease the trade war.

10.15 am

Government puts off Mazagon Dock share-sale

Choppy stock market conditions have forced the government to put off the planned share-sale in Mazagon Dock Shipbuilders. The initial public offering of shares in Mazagon Dock was slated to hit the market after the share-sale in Garden Reach Shipbuilders and Engineers in September. Read more

10.05 am

JK Tyre results

A representational image

 

JK Tyre & Industries will announce its second quarter numbers today. The company shares were trading up 1.99 per cent at Rs 100.05 on the BSE. Read more

9.55 am

The S&P BSE Sensex fell 80.23 points or 0.24 per cent to 33,987.17 and the Nifty50 declined 21.85 points or 0.21 per cent to 10,229 due to weak global market cues amid escalating trade tensions between the US and China, and heavy selling by foreign portfolio investors.

Top five Sensex gainers were YES Bank, State Bank of India, Tata Motors, M&M and Bajaj Auto, while the major losers were Coal India, Reliance, Tata Steel, IndusInd Bank and Sun Pharma.

Among BSE sectoral indices, IT gained the most followed by TECk, consumer durables and auto, while oil & gas, metal, power and PSU succumbed to selling pressure.

 

Global investor sentiment turned volatile on reports that the United States was preparing to announce tariffs on all remaining Chinese imports by early December if talks next month between presidents Donald Trump and Xi Jinping fail to ease the trade war.

Traders also took cues from foreign portfolio investors who sold shares worth Rs 2,230.79 crore on Monday. Meanwhile, domestic institutional investors were net buyers to the tune of Rs 2,526.90 crore, provisional data available with stock exchanges showed.

9.45 am

Broker's call

Narnolia

CEAT (Buy)

CMP: ₹1,127.95

Target: ₹1,288

Read more

9.35 am

Investors of scam-hit NSEL up in arms against SEBI

File Photo   -  Reuters

 

Investors hit by the ₹5,500-crore NSEL scam are now up in arms against SEBI. Their contention is that the market regulator should not hold NSEL transactions in violation of Forward Contract Regulation Act at a time when the Bombay High Court has held it as ‘deposits’ under the guise of pared contracts and fit for imposition of Maharashtra Protection of Interests of Depositors (MPID). Read more

9.25 am

Global markets

Asian shares on track for worst Oct since 2008. Image for representational purpose.   -  Reuters

 

Asian shares came under pressure with Chinese markets and the yuan falling, hurt by fresh worries about the intensifying Sino-US trade war and tracking losses in Wall Street indexes. Shanghai shares fell 0.6 per cent in early trade while Japan's Nikkei average rose 0.7 per cent. More on this

9.15 am

Opening bell

The 30-share BSE index Sensex opened marginally low at 34,067.26, down 0.14 points, against the previous close of 34,067.40. The 50-share NSE index Nifty opened at 10,208.45 against the previous close of 10,250.85, down 42.4 points.

Short-covering in the stock markets on the back of stability in US index futures triggered a huge rally in benchmark indices Sensex and Nifty on Monday.

9.10 am

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:

₹1924 • HDFC Bank

S1

S2

R1

R2

COMMENT

1910

1895

1940

1955

Consider initiating fresh short positions with a fixed stop-loss only if the stock falls below ₹1,910 levels

 

₹643 • Infosys

S1

S2

R1

R2

COMMENT

633

620

650

660

Fresh long positions are recommended with a tight stop-loss only if the stock moves beyond ₹650 levels

 

₹283 • ITC

S1

S2

R1

R2

COMMENT

280

277

287

290

Initiate fresh short positions with a stiff stop-loss if the stock of ITC falls below ₹280 levels

 

₹155 • ONGC

S1

S2

R1

R2

COMMENT

153

150

158

162

Make use of intra-day dips to buy the stock of ONGC while maintaining a fixed stop-loss at ₹153 levels

 

₹1088 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1070

1050

1110

1130

Initiate fresh long positions with a stiff stop-loss only if the stock of RIL advances above ₹1,110 levels

 

₹268 • SBI

S1

S2

R1

R2

COMMENT

262

257

272

278

The stock jumped 8 per cent last session. Make use of intra-day declines to buy it with a fixed stop-loss at ₹262 levels.

 

₹1869 • TCS

S1

S2

R1

R2

COMMENT

1850

1830

1895

1920

Fresh long positions can be initiated with a tight stop-loss if the stock rebounds up from ₹1,850 levels

 

10283 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10228

10180

10330

10380

Consider initiating fresh long positions with a tight stop-loss if the contract reverses higher from 10,228 levels

 

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

9.00 am

Today's Pick

 

We recommend a buy in the stock of Sterlite Industries at the current levels of ₹366. The short-term price targets are ₹380 and ₹388. Read more

Published on October 30, 2018