Sensex ends almost 100 points lower Nifty below 11K on Day 1 of October series

28 Sep 2018

Market at Close: It has been a rather jittery start to the October series. The Nifty has stayed below 11,000-mark. The Sensex is down around 90 points.

Selling in automobiles, infrastructure, metals and pharma names were the highlight, while FMCG and the Bank Nifty have ended in the green. But the selling in midcaps have also been one of the major factors for the market to fall.

At the close of market hours, the Sensex closed down 97 points or 0.2% at 36227.1, and the Nifty down 44.4 points or 0.4% at 10933.1. The market breadth is negative as 526 shares advanced, against a decline of 2,101 shares, while 159 shares were unchanged.

Shares of Axis Bank, ITC, and Wipro are the top gainers, while Yes Bank, Hero MotoCorp, and Indiabulls Housing lost the most.

Nomura of Reliance Industries: Research house maintained buy rating on stock with a target of Rs 1,480 per share.

According to Nomura, the outperformance seems set to continue. The earnings are on a rising trend and the rally can continue.

Its FY19-20 PAT are 10-13% ahead of the street, it added.

At 14:04 hrs Reliance Industries was quoting at Rs 1,252.10, down Rs 0.80, or 0.06 percent.

Market Update: Benchmark indices are trading lower in the afternoon session on Friday amid pressure from auto, pharma, metal and IT stocks.

The Sensex is down 57.37 points at 36,266.8, while Nifty is down 43.80 points at 10,933.7. About 506 shares have advanced, 1918 shares declined, and 141 shares are unchanged.

Except bank, energy all other sectoral indices are trading 1-4 percent lower.

Midcap, smallcap are under performing the main indices.

Buzzing: Shares of Time Technoplast slipped 1.5 percent after promoters sold 1.1 percent stake of the company.

Promoter companies including Vishwalaxmi Trading & Finance, Time Exports and Time Securities Services together have sold 25,03,230 shares (1.1% of the total capital of the company out of total promoters equity of 52.3 percent).

YES BANK'S FALL CONTINUES

Yes Bank stock has crashed more than 50 percent in last one month wiping out more than Rs 4,600 crore in market capitalisation. It fell as much as 9 percent on Friday to hit fresh 52-week low of Rs 184.45.

It was quoting at Rs 189.30, down Rs 13.90, or 6.84 percent, on the BSE at 10:50 hours IST. It has been the biggest loser among Nifty50 stocks in last one month.

In the dock for under-reporting bad loans, Yes Bank has denied any “window dressing” of corporate loans to conceal its non-performing asset (NPA) status.

Yes Bank further said its gross NPA ratios are among the finest in the banking industry and the internal control over financial planning is audited with BSR and Co (KPMG), that has given an “un-qualified opinion” on it.

Take Solutions sells business unit: Take Solutions' wholly owned subsidiary, Navitas, Inc (USA) has sold off its supply chain unit namely TAKE Supply Chain in Austin, USA to ESW Capital, LLC, USA.

At 11:43 hrs Take Solutions was quoting at Rs 154.40, down Rs 5.65, or 3.53 percent.

Buzzing: Shares of Assam Company (India) locked at 5 percent lower circuit after company fixed record date for the purpose of delisting of equity shares.

As per the directions of the Monitoring Committee (MC) acting through its authorized representatives, the MC has fixed October 4, 2018, as the record date, i.e., the date for determining the public shareholders to whom the exit price is to be paid, company said in release.

The public shareholders will be paid the said amount on or before October 19, 2018

There were pending sell orders of 1,963,967 shares, with no buyers available.

Market Update: Equities have staged some recovery and are trading in the green. The Nifty is trading flat, while the Sensex is up around 50 points.

The Sensex is up 46.46 points or 0.13% at 36370.63, while the Nifty up 2.60 points or 0.02% at 10980.10. The market breadth is negative as 637 shares advanced, against a decline of 1,508 shares, while 116 shares are unchanged.

HDFC, SBI, and GAIL are the top gainers, while Yes Bank, Tata Steel, and Indiabulls Housing have lost the most.

INFIBEAM CLARIFICATION ON BSE

All the material information, that have a bearing on the operation/performance of the Company which include all price sensitive information have always been disclosed by the Company within the stipulated time. Further, the company has always provided timely clarification / information sought by the stock exchanges. There is no pending information or announcement from the company which may have a bearing on the price behaviour in the scrip

Market Update: A sharp selloff among midcaps as well as marquee sector names is dragging the market to low points. The Nifty has turned negative and is trading around 50 points lower, while the Sensex is trading flat.

The Sensex is down 21.21 points or 0.06% at 36302.96, while the Nifty is down 45.80 points or 0.42% at 10931.70. The market breadth is negative as 392 shares advanced, against a decline of 1,097 shares, while 69 shares were unchanged.

ITC, Asian Paints, and GAIL are the top gainers, while Yes Bank, Vedanta, and Indiabulls Housing have lost the most.

Market opens: It’s a good start to the market on Friday morning as the Nifty surpassed 11,000 in the opening trade. The Sensex is higher by over 150 points.

Sectors such as banks, FMCG, and auto are gaining big, while the Nifty IT index is down over a percent. The midcap index is also moving in tandem with the benchmarks, with Nifty Midcap gaining almost half a percent.

The Sensex is up 163 points or 0.4% at 36487.1, while the Nifty is higher by 49.5 points or 0.4% at 11027. The market breadth is narrow as 506 shares advanced, against a decline of 309 shares, while 46 shares were unchanged.

HDFC, Tata Motors, and GAIL are the big gainers, while Infosys, TCS, and Tech Mahindra have lost the most.

Market at pre-open: Indian markets are trading higher in the pre-opening trade on the back of positive global cues.

At 09:01 hrs IST, the Sensex is up 121.80 points at 36,445.9, while Nifty is up 34.50 points at 11,012.

Apollo Tyres, Infosys were down, while GSPL, Gail, Ashoka Buildcon are trading higher in pre-opening trade.

Wall Street ends higher: Wall Street rose on Thursday, helped by high-flying shares of Alphabet and Netflix, as well as the US Federal Reserve's confidence in the strength of the economy after it raised rates for the third time this year.

Ten out of 11 sectors rose, with the S&P 500 communication services index, recently renamed and reconstituted with Facebook , Google-parent Alphabet , Netflix and other Internet and media stocks, jumping 1.15 percent.

Alphabet added 1.72 percent and Netflix climbed 0.85 percent, both helping lift the S&P 500.

Asian markets trade higher: Shares in Asia inched higher on Friday, following gains on Wall Street overnight after news of robust U.S. economic growth, with the chairman of the Federal Reserve saying the United States does not face a large chance of near-term recession.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.02 percent in early trade in Asia. Australian shares were 0.5 percent higher, while Seoul's Kospi was down 0.5 percent after hitting three-month highs on Thursday.

Japan's Nikkei stock index gained 1.1 percent, putting it within sight of a 2018 high of 24,129.34 points on Jan. 23.