Sensex ends almost 300 points higher; Nifty above 11,000

CNBC

Market at Close: It’s a good start to the month of October for D-Street, with the Sensex closing around 300 points higher, while the Nifty closed above 11,000-mark. 

A relief rally in financials pushed indices higher, while automobiles, metals and IT names ended in the green. Midcaps, too, recovered sharply from the day’s low points to end a percent higher on the Nifty. 
At the close of market hours, the Sensex closed up 299 points or 0.8% at 36526.1, and the Nifty was higher by 77.8 points or 0.7% at 11008.3. The market breadth was negative though as 1,059 shares advanced, against a decline of 1,610 shares, while 359 shares were unchanged.
Yes Bank, ICICI Bank, and Hindalco are the top gainers, while Bharti Airtel, Axis Bank, and HPCL have lost the most.    
Market Update: Benchmark indices witnessing a sharp recovery in the afternoon trade with Nifty is inching towards 11,000 level.
The Sensex is up 246 points at 36473.1, while Nifty is up 67 points at 10997.60. About 905 shares have advanced, 1677 shares declined, and 402 shares are unchanged. 
HDFC Bank, HDFC, Infosys, TCS and ICICI Bank are the positive contributors to the Sensex. 
Tata Motors reports strong September auto sales numbers: Shares of Tata Motors gained 3 percent after company reported strong sales numbers for the month ended September 2018.
The company in the domestic market sold 64,250 units, up 20 percent, compared to 53,964 units over the previous year.
The cumulative domestic sales performance (April-September 2018) for Tata Motors witnessed a strong growth of 40 percent with 3,39,186 units as compared to 2,42,787 units in the same period last year.   
Macquarie on ITC: Research house has upgraded the stock to outperform from neutral with potential upside of 24 percent.
It also raise target price to Rs 367 from Rs 304 per share.
It expect higher visibility of margin improvement in FMCG business and believes potential double-digit cigarette EBIT growth will lead to  valuation re-rating. 
Market Update: The Sensex has turned positive amid cooling crude oil prices and some anticipation among participants in the IL&FS issue. The Nifty is off low points and is above 10,900.
The Sensex is up 40.7 points or 0.1% at 36267.9, while the Nifty is down 14.50 points or 0.13% at 10916.00. The market breadth is negative as 631 shares advanced, against a decline of 1,891 shares, while 431 shares are unchanged.  
INDIA RECEIVES BELOW NORMAL RAINFALL
India has recorded a below normal rainfall to the tune of 91 percent of the long period average (LPA), according to a report by SkyMet Weather.
The four-month-long southwest monsoon season officially ended on October 1.
The cumulative rainfall across the country for the overall season between June 1 and September 30 was recorded at 804 millimetre (mm) against the normal rains of 887.5 mm, the report suggests. The overall rainfall was 84 mm fewer than normal.
According to the report, rainfall this year had the distinction of having a deficit in all four months. 
Market Update: The market is off its low points as investors are betting on positive developments around IL&FS issue. The government has made arguments to change the Board of IL&FS and announcements such as these could have looked to allay fears.  
The Sensex is down 42.9 points or 0.1% at 36184.2, while the Nifty is lower by 42.70 points or 0.3% at 10887.8. The market breadth is negative as 516 shares advanced, against a decline of 1,947 shares, while 466 shares were unchanged.
GOVERNMENT SEEKS SUSPENSION OF IL&FS BOARD
The government, in its arguments presented at the National Company Law Tribunal (NCLT), has said that the current management is in no position to convince lenders, CNBC-TV18 reported. Further, they also added that several mutual funds will collapse if this firm sees a collapse too. 
Further, it has sought suspension of the entire Board of IL&FS and has sought an appointment of 10 new directors at the Board. Additionally, Uday Kotak has proposed to be the chairman of IL&FS’ Board. 
Market Update:  As developments around government’s arguments keep coming in, equity benchmarks are trading weaker. The Sensex is down over 100 points, while the Nifty is below 10,900-mark.  
The Sensex is down 126.2 points or 0.3% at 36100.9, while the Nifty is down 68.2 points or 0.6% at 10862.3. The market breadth is negative as 461 shares advanced, against a decline of 1,981 shares, while 482 shares were unchanged. 
According to latest developments, the government is seeking a new management at IL&FS, with Uday Kotak being proposed as chairman of IL&FS’ Board. It has also made comments on mismanagement and mis-governance at the firm as well.  
Zydus receives final approval from USFDA: Zydus Cadila has received the final approval from the USFDA to market Desoximetasone Cream USP (US RLD- Topicort Cream), 0.25%.
It will be manufactured at the group’s Topical manufacturing facility at Ahmedabad.
Desoximetasone is a strong corticosteroid, used to treat a variety of skin conditions (e.g., eczema, dermatitis, allergies and rash). It reduces the swelling, itching and redness that can occur in these types of conditions.
Buzzing: Share price of GMR Infrastructure gained 4.3 percent intraday Monday as company emerged highest bidder for privatisation of Nagpur airport.
GMR Airports, a subsidiary of GMR Infrastructure, has emerged as the highest bidder for the development, operations and management of Dr. Babasaheb Ambedkar International Airport, Nagpur on a public private partnership (PPP) basis.
The project involves up-gradation, modernization, operation and maintenance of Nagpur airport for a period of 30 years and includes construction of a new terminal amongst other works.
Market Update: Indian indices slipped further in the late afternoon trade with Nifty trading below 10,850 level.
The Sensex is down 196 points at 36,031.1, while Nifty is down 84.90 points at 10,845.6. About 468 shares have advanced, 1878 shares declined, and 551 shares are unchanged. 
Auto, bank, energy, infra, metal and pharma stocks are under pressure. Also, midcaps and smallcaps were down 2 percent.
Lupin in partnership with Lilly: Lupin and Eli Lilly and Company (India) have announced the expansion of their business partnership aimed at widening access to innovative diabetes medicines in India.
Under the new partnership, Lupin will distribute and market Lilly's Aplevant (dulaglutide), a once-weekly injection for type 2 diabetes treatment.
Aplevant (dulaglutide) is a once-weekly injectable solution for adults with type 2 diabetes mellitus. Lupin expects to make Aplevant available in India in October 2018.
Buzzing: Shares of IRB Infrastructure Developers added 3.4 percent as company achieved financial closure of a project within the timeline.
IRB PS Highway - wholly owned subsidiary of the company has achieved financial closure for the project within the timeline as specified in the concession agreement executed for the project.
Project included four laning of Poondiyankuppam to Sattanathapuram section ofNH-45A. 
Vakrangee down 5%: Shares of Vakrangee are lower by 5 percent as investors turned wary of government intervention into its books. The Ministry of Corporate Affairs (MCA) has ordered inspection of its book of accounts in a press release issued on September 29. The company has been under the scanner of investigative agencies after allegations of share price manipulation surfaced early this year. Moneycontrol had first reported on the development on September 21.
MARUTI REPORTS 0.5 PERCENT FALL IN SEPTEMBER SALES
Automobile major reported a fall of half percent to 1.62 lakh units against 1.63 units that it reported during the previous year. Its total export sales fell 25 percent to 8,740 units from 11.671 units during the last year. Meanwhile, its domestic sales grew to 1.53 lakh units, a rise of over a percent as compared to September 2017. 
AVIATION STOCKS FALL AFTER HIKE IN JET FUEL PRICES
Share prices of airline companies fell between 3 percent and 5 percent to hit fresh 52-week lows in morning trade Monday after hike in jet fuel prices by the oil companies.
Jet Airways declined as much as 5 percent to hit a fresh 52-week low of Rs 171, SpiceJet fell 3 percent to 52-week low of Rs 66 and InterGlobe Aviation corrected 3 percent to 52-week low of Rs 800.25 on the BSE.
Jet fuel price has been increased by Rs 5,106 to Rs 74,567/kL in Delhi today morning.
Any hike in fuel prices is always have a major impact on aviation companies as it constituted major portion of operational expenses.
Market Opens: It’s a weak start to the month on the market on Monday morning, with the Nifty below 11,000, while the Sensex is down almost 100 points. 
Among sectors, banks are in the red, along with automobiles and metals. The Nifty Midcap is down over a percent. 
The Sensex is down 88.38 points or 0.24% at 36138.76, while the Nifty is lower by 51.80 points or 0.47% at 10878.70. 
Infosys, ITC, and GAIL are the top gainers, while Kotak Mahindra Bank, Yes Bank and J Kumar Infra have lost the most. 
Shares of Bandhan Bank have plunged 20 percent after RBI froze remuneration to its MD & CEO last week. 
RBI will infuse liquidity via OMOs: Based on an assessment of the durable liquidity needs going forward and the seasonal growth in currency in circulation observed in build-up to the festive season, RBI has decided to conduct purchase of Government securities under Open Market Operations (OMOs) for an aggregate amount of Rs 360 billion in the month of October 2018.
The auctions would be conducted during the 2nd, 3rd and 4th week of October, RBI further added.
Asian markets trade mixed: Asia markets are trading mixed this Monday morning led by data released on Sunday showing a slowdown in China's manufacturing sector. The Nikkei 225 was 0.39 percent higher while the Topix declined by 0.13 percent in the early hours. In South Korea, the Kospi was higher by around 0.1 percent in the morning.
Wall Street ends flat on Friday: The US dollar rose on Friday as the euro fell on deepening worries about an Italian budget with a higher-than-expected deficit target, which also slammed European stocks.
Wall Street ended flat, pulling back from early gains after Facebook disclosed a security breach. Tesla shares lost 13.9 percent after US regulators sued Chief Executive Officer Elon Musk in a fraud complaint that seeks to remove him as CEO.
The Dow Jones Industrial Average rose 18.38 points, or 0.07 percent, to 26,458.31, the S&P 500 lost 0.02 point to 2,913.98 and the Nasdaq Composite added 4.39 points, or 0.05 percent, to 8,046.35.