Sensex ends in the red, down 53 points at 40,248

Nifty finishes 24 points lower at 11,917

 

3:40 pm

Closing bell

Snapping their record run of the past one week, the benchmark indices, the BSE Sensex and the NSE Nitfy, closed Tuesday's session in negative territory.

The Sensex finished the session at 40,248, down 53 points or 0.13 per cent, while the Nifty ended at 11,917, down 24 points or 0.2 per cent on its overnight close.

The top gainers on the Sensex were Bajaj Finance (up 3.38 per cent), YES Bank (up 3.25 per cent), Bharti Airtel (1.84 per cent), SBI (1.48 per cent) and Bajaj Auto (1.39 per cent).

The laggards were IndusInd Bank (down 2.23 per cent), Sun Pharma (2.02 per cent), Infosys (1.97 per cent), Tata Steel (1.28 per cent) and M&M (1.21 per cent).

The telecom index was the only sectoral index to end in positive territory, closing 1.47 per cent higher. Consumer durables shares lost more than 1 per cent during the session, followed by healthcare, capital goods, metals and energy (all of them losing between 0.80-1.3 per cent).

3:25 pm

Oil gains on optimism over US-China trade deal

File Photo   -  Reuters

 

Oil prices rose on Tuesday on positive economic data and hopes for a Washington-Beijing trade deal that will lead to a de-escalation in tensions between the world's top economies.

Brent crude was up 17 cents, or 0.3 per cent, at $62.30 a barrel at 0909 GMT. US crude rose 10 cents, or 0.2 per cent, to $56.64 a barrel. Click here to read the oil markets report in full.

3:15 pm

Pandora, Siemens Gamesa push European shares lower

File Photo   -  Reuters

 

European shares fell slightly on Tuesday, a day after hitting their highest levels since 2015, with a sales warning from Danish jewellery maker Pandora and a glum forecast from wind energy company Siemens Gamesa weighing on the benchmark index.

The pan-European STOXX 600 index fell 0.03 per cent, although declines were capped by hopes that a US-China trade deal could be signed this month.

Healthcare, utilities and real estate stocks, commonly considered defensives, recorded some of the biggest losses in early trading. Click here to read in full the European markets report.

3:00 pm

Asian shares race to 6-month high on hopes of tariff relief

 

Asian shares vaulted to six-month highs on Tuesday, surpassing their July peaks, as hopes that Washington may roll back some of the tariffs it has imposed on imports from China shored up optimism on the global economic outlook.

MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.5 per cent to reach levels last seen in early May, led by gains in Chinese shares. Click here to read in full the Asian markets report.

2:50 pm

How to revive your lapsed LIC policy

To offer some respite to policyholders, LIC recently announced a facility to revive life insurance policies that have remained lapsed for over two years. This is important, because your life insurance policy will only come in handy to meet your family’s financial needs in your absence, if premiums are paid regularly. Click here to read the report on reviving your lapsed LIC policy.

2:30 pm

Ashok Leyland ready to meet BS VI norms with own technology: Dheeraj Hinduja

 

The country’s second-largest medium and heavy commercial vehicle player Ashok Leyland is gearing up for a new growth curve with its own BS-VI technology and a modular platform for trucks. A host of other business plans and initiatives are in the pipeline to maintain its position. Chairman of Ashok Leyland Dheeraj Hinduja, who has been spearheading the company’s transition to BS VI and a new growth trajectory, spoke to BusinessLine on the company’s growth plans, the new emission norms and its CEO search. Click here to read more on Ashok Leyland's growth curve and BS-VI trajectory.

2:10 pm

Sensex, Nifty extend losses

The Sensex and Nifty traded in the red in the afternoon session on Tuesday. After hitting new highs early in the session, both the Sensex and Nifty dropped lower in the mid-session.

The Sensex was at 40,162, down 139 points or 0.35 per cent lower on its previous close. The Nifty dropped 48 points or 0.40 per cent to 11,892.

 

2:00 pm

MSTC ties up with Allahabad Bank to develop e-auction platform

 

MSTC Ltd has signed an agreement with Allahabad Bank for the development of a dedicated e-Auction platform directly linked with the Indian Banking Association's portal (https://ibapi.net) for sale of non-performing assets (NPAs) through the SARFAESI (Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest) Act. Click here to read in full the report on MSTC tie-up with Allahabad Bank.

 

1:30 pm

Nifty Intraday Call: Go short with stop loss at 12,025

 

The Nifty 50 November future contract opened on a steady note, but is losing ground fast. Profit booking seems to have set in at higher levels as the Nifty 50 neared its previous life-time high.

The selling appears restricted to Indian markets. US indices closed at record highs on Monday. Click here to read the Nifty call report in full.

12:40 pm

RBI circular on indirect foreign investments in India threatens a market sell-off

 

The Reserve Bank of India’s recent circular could give a jolt to some of the large mutual fund (MF) houses in India. The RBI has said that asset management companies (AMC) majority owned by foreign companies will fall under the indirect foreign investment category. Effectively, this automatically puts a cap on MF investments in several listed companies and sectors in line with foreign investment rules. HDFC, ICICI Prudential, Nippon and Axis MF, among others, are some of the fund houses that could be impacted the most by the circular, experts told BusinessLine. Click here to read in full the report on RBI circular on indirect foreign investments.

12:05 pm

Sensex, Nifty slip into red

After opening firm and trading in the green in the morning session, the Sensex and Nifty slipped into the red by mid-session on Tuesday.

The Sensex dropped 91 points or 0.23 per cent to quote at 40,210, while the Nifty slipped 32 points or 0.27 per cent to quote at 11,908.

The top gainers on the Sensex were YES Bank, SBI, Bharti Airtel, Bajaj Finance and Hero MotoCorp, while the laggards were Sun Pharma, Infosys, M&M, IndusInd Bank and Asian Paints.

Among the sectoral indices, the telecom index was the only one in the green, rising 1.01 per cent. The laggards were consumer durables (down 1.03 per cent), IT (down 0.90 per cent), healthcare (0.72 per cent), capital goods (0.75 per cent) and technology shares (0.69 per cent). 

11:51 am

ICICI Securities sees these stocks entering F&O segment soon

 

ICICI Securities expects 10 stocks to enter the derivatives segment soon. They are: SBI Life Insurance, HDFC Life Insurance, ICICI Lombard General Insurance, Bandhan Bank, Avenue Supermarts, HDFC Asset Management Company, Godrej Properties, Info Edge India, Oberoi Realty and Reliance Nippon Life Asset Management. Click here to read in full the report on ICICI Securities's list of 10 scrips seen entering F&O segment.

11:40 am

Oil edges lower amid doubts over OPEC cuts

 

Oil prices slipped on Tuesday amid doubts over whether OPEC and other countries will continue to restrain output, edging lower after two days of gains on U.S. economic data and hopes for a Washington-Beijing trade deal. Click here to read in full the oil markets report.

11:25 am

Asian shares near July peak as optimism grows on trade, economy

 

Asian shares approached their July peak on Tuesday on signs the United States and China are inching closer to a truce in their trade war and on optimism the US economy is poised for solid, consumer-driven growth.

MSCI's broadest index of Asia-Pacific shares outside Japan ticked up 0.1 per cent after hitting a four-month high the previous day. Click here to read in full the Asian markets report.

11:15 am

IPO fever: After IRCTC’s success, will the capital market see more big-ticket public issues?

 

A host of public issues from high-profile companies to the tune of ₹30,000 crore, especially from the financial services segment, may hit the market in the next few months. While some of them have already received regulator SEBI’s nod and are waiting for the right time, others have initiated the process to tap the primary market. Among them are SBI Cards and Payment Services, CSB Bank, IREDA, Bajaj Energy, Ujjivan SFB, Angel Broking, Annai Infra Developers and Shyam Steel Industries.

These companies have to hit the market within one year of SEBI's approval, otherwise they have to reapply for an IPO. Click here to read in full the report on whether the market will see more big-ticket IPOs, following IRCTC's success.

10:50 am

CreditAccess Grameen Q2 net profit rises to ₹101 crore

 

CreditAccess Grameen reported a 37 per cent increase in second quarter net profit at ₹101 crore against ₹73.50 crore in the year-ago quarter, supported by healthy net interest income and lower tax burden.

The Bengaluru-based microfinance institution’s net interest income was up 26 per cent year-on-year (y-o-y) at ₹251 crore. Total tax expense was lower at ₹26 crore, against ₹41 crore in the year-ago period. Gross Loan Portfolio was up 36 per cent y-o-y to stand at ₹7,905 crore as of September-end 2019. Click here to read more on CreditAccess Grameen's NCD issue.

10:20 am

Sensex, Nifty edge lower

The benchmark indices shed their early gains to trade flat in the morning session.

The Sensex was at 40,340, up 38 points or 0.09 per cent firmer, while the Nifty was at 11,949, up 8 points or 0.07 per cent firmer.

The top gainers on the Sensex were YES Bank, SBI, Tata Steel, Vedanta and Tata Motors, while the laggards were Infosys, TCS, Asian Paints, Hindustan Unilever, and Kotak Bank.

According to an agency report, the Sensex retreated from its record peak in early trade on Tuesday as investors booked profits amid positive cues from global equities. The bechmark rose over 165 points in the opening session.

Similarly, the broader NSE Nifty slipped 13.60 points, or 0.11 per cent, to 11,927.70.

In the previous session, the 30-share Sensex rose 136.93 points, or 0.34 per cent, to end at an all-time high of 40,301.96. The seven-session winning run is also the best since mid-March for the Sensex. The index also hit its record intra-day high of 40,483.21.

The broader NSE Nifty, too, advanced 50.70 points, or 0.43 per cent, to close at 11,941.30.

Foreign institutional investors (FIIs) offloaded shares worth Rs 138.53 crore in the capital market on Tuesday, while domestic institutional investors sold equities worth Rs 500.24 crore, data available with the stock exchange showed.

According to traders, benchmark indices were trading flat as investors began booking profits at higher levels.

Globally, bourses in Shanghai, Hong Kong, Tokyo and Seoul were trading higher on optimism over the US-China trade deal. Shares on Wall Street, too, ended higher on Monday.

On the currency front, the rupee appreciated 4 paise against the US dollar to trade at 70.73 in early session. Brent futures, the global oil benchmark, rose 0.05 per cent to USD 62.16 per barrel. (with inputs from PTI)

 

9:50 am

Rakesh Jhunjhunwala buys 0.51 per cent stake in YES Bank, scrip up 5 per cent

 

In what could possibly give a shot of confidence to investors, ace investor Rakesh Jhunjhunwala has purchased 1.29 crore shares amounting to 0.51 per cent stake in YES Bank.

The transaction, through a bulk deal on Monday, was put through at a price of Rs 67.10 apiece, taking the total value of the deal to about Rs 87 crore.

The YES Bank scrip was trading 5 per cent up at Rs 69.45 apiece early on Tuesday morning on BSE.

The private sector lender, which has been facing challenging times in recent months, posted a net loss of Rs 600 crore in the second quarter of the fiscal due to a one-time DTA provision of Rs 709 crore for the lower corporate tax regime. Click here to read full report on Rakesh Jhunjhunwala buys stake in YES Bank.

9:30 am

MRPL loss jumps to Rs 574.45-crore in Q2

Mangalore Refinery and Petrochemicals Ltd (MRPL) registered a loss of ₹574.45 crore in the second quarter of 2019-20, as against a loss of ₹81.16 crore in the corresponding period of 2018-19.

The company informed the stock exchanges late on Monday evening that it recorded a net loss of ₹574.45 crore and GRM (gross refining margin) of $0.68 a barrel. GRM was at $4.41 a barrel in Q2 of 2018-19. (GRM is the difference between the price of crude and end-products such as diesel, petrol, etc.)

The company said that low GRM was because it had to shut down operations after a minor landslide in its premises due to heavy rains in Dakshina Kannada district. Click here to read more on MRPL Q2 results.

9:15 am

Opening bell

The benchmark indices, the BSE Sensex and the NSE Nifty, opened Tuesday's session in the green.

The Sensex rose 38 points or 0.10 per cent to trade at 40,340, while the Nifty was quoting at 11,970, up 29 points or 0.25 per cent higher.

9:10 am

Day Trading Guide for Tuesday, November 5, 2019

₹1236 • HDFC Bank

S1

S2

R1

R2

COMMENT

1230

1220

1245

1260

Stock continues to trade sideways with bearish bias. Sell only if the stock falls below ₹1220 with stiff stop-loss

 

₹709 • Infosys

S1

S2

R1

R2

COMMENT

700

680

710

736

Short-term trend is bullish for the stock. Hence, buy in dips and place stop-loss below ₹700 levels

 

₹260 • ITC

S1

S2

R1

R2

COMMENT

254

251

263

267

Stock marginally closed above ₹260 but price action is bearish. Initiate short positions below ₹259

 

₹147 • ONGC

S1

S2

R1

R2

COMMENT

146

143

150

154

Fresh breakout in stock witnessed on daily basis and so one can buy the stock in dips with stop-loss at ₹143

 

₹1457 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1450

1435

1477

1490

The stock losing bullish momentum and is in a corrective decline. Sell it with tight stop-loss below ₹1,450 levels.

 

₹314 • SBI

S1

S2

R1

R2

COMMENT

303

293

320

330

Stock traded flat yesterday and is hovering around daily resistance level. Buy the stock on a break above ₹318 levels.

 

₹2194 • TCS

S1

S2

R1

R2

COMMENT

2175

2120

2230

2250

Initiate fresh short position as the stock has broken below an important support. Place stop-loss at ₹2230 levels.

 

11979 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11930

11900

12000

12040

Contract struggling at an important level after a strong rally. Iniatiate long positions above 12,000 with tight stop-loss

 

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

9:00 am

Today's Pick: Bajaj Finserv  (₹8,706.6): Buy

 

After a subdued month of October and failing to provide a decisive break above its previous high in the first week of the month, the shares of Bajaj Finserv marked a new lifetime on Monday at ₹8,750 and closed the day at ₹8,706.6. Click here to read in full Today's Pick on Bajaj Finserv.

 

                                                                                   

Published on November 05, 2019