Sensex ends over 130 points higher, Nifty closes above 10,500; midcaps outperform

CNBC

Market at Close: It’s a good follow-through to the market’s strong close on October 12, 2018, with the Sensex closing over 100 points higher. The Nifty ended above 10,500-mark.  

Buying counters were buzzing in IT as well as pharmaceuticals, while automobiles, and metals were some of the losers. However, midcaps had a very strong day, with the Nifty Midcap ending over a percent higher. 
At the close of market hours, the Sensex ended up 131.52 points or 0.38% at 34865.10, while the Nifty rose 40 points or 0.38% at 10512.50. The market breadth is positive as 1,637 shares advanced, against a decline of 965 shares, while 895 shares were unchanged.
Infosys, ITC, Dr Reddy’s and Cipla were the top gainers, while Mahindra & Mahindra, HUL, and Bajaj Finserv lost the most. 
Market Update: Benchmarks have gained strength this afternoon, with the Sensex rising over 150 points. The Nifty is back at 10,500-mark. 
The Sensex is up 157.47 points or 0.45% at 34891.05, while the Nifty is higher by 41.70 points or 0.40% at 10514.20. The market breadth is positive as 1,507 shares advanced, against a decline of 851 shares, while 1,118 shares were unchanged.
Reliance Industries, HDFC twins and IT stocks are supporting the market in this trade. Nifty IT and Nifty Pharma index is up 1-2 percent. 
Buzzing: Shares of Natco Pharma gained 6.7 percent after court affirmed Copaxone patents are invalid. The United States Court of Appeals for the Federal Circuit has affirmed the District of Delaware's decision that Teva's Copaxone 40 mg/ml dosing patents are invalid as obvious, company said in release. 
Buzzing: Shares of Dilip Buildcon gained 5 percent on completion of project before scheduled date. The project rehabilitation & upgradation of stretch of SH 317-Kalamb-Ralegaon-Wadki to two lane paved shoulders in the state of Maharashtra on EPC mode (Package -21) has been completed.
The provisional completion certificate has been issued by the said authority on October 10, 2018 and has declared the project fit for entry into commercial operation as on October 9, 2018.
However, the company is entitled to maximum bonus of Rs 14,62,50,000 in lieu of earlier completion (210 days before the schedule completion date) of the said project. The scheduled date for the project is May 7, 2019.  
Market Update: Equity benchmarks are trading lower, with the Nifty giving up 10,450-mark. The Sensex is down around one-fifth of a percent.  
The Sensex is down 71.57 points or 0.21% at 34662.01, while the Nifty is lower by 33.10 points or 0.32% at 10439.40. The market breadth is narrow as 1,024 shares advanced, against a decline of 688 shares, while 1,744 shares were unchanged.
Among sectors, IT and pharmaceuticals are holding the fort for the market, while there is weakness in automobiles, banks, and the metals space. The midcap index is marginally higher. 
Shares of ITC, Sun Pharma, Dr Reddy’s and Indiabulls Housing are the top gainers, while Hindustan Unilever, ICICI Bank, HPCL and GAIL have lost the most.  
AU SMALL FINANCE BANK FALLS 1% 
Shares of AU Small Finance are down around a percent on Monday morning even as the lender reported 34 percent rise in net profit to Rs 91.4 crore for the second quarter of 2018-19.
The bank had reported a net profit of Rs 68.2 crore in the July-September period of 2017-18.
Crude Update:
Crude oil futures rose sharply as geopolitical tensions over the disappearance of a prominent Saudi journalist stoked worries about supply, although concerns about the long-term outlook for demand dragged on prices.
Crude markets were also supported in the wake of data that showed South Korea did not import any oil from Iran in September for the first time in six years, before U.S. sanctions against the Middle East country take effect in November.
Brent crude had risen 98 cents, or 1.22 percent, to 81.41 a barrel, on track for its biggest daily gain since October 9.
US crude futures climbed 74 cents, or 1.04 percent, to $72.08 a barrel, extending gains they racked up on Friday after hefty losses on Wednesday and Thursday. Source: Reuters.
Market Opening:
Benchmark indices opened flat on Monday amid weak Asian cues. The 30-share BSE Sensex fell 3.91 points at 34,729.67 and the 50-share NSE Nifty declined 6.30 points to 10,466.20.
Nifty Midcap index gained 80 points. AU Small Finance Bank, Jay Bharat Maruti, Praj Industries, Bajaj Hindusthan, Triveni Engineering, Shree Renuka, CESC, Balrampur Chini, Info Edge and Dilip Buildcon rallied 1-8 percent. Avenue Supermarts fell 6 percent.
Market at pre-opening: Benchmark indices are trading strong in the pre-opening trade with Nifty is trading above 10,600.
At 09:02 hrs IST, the Sensex is up 258.48 points or 0.74% at 34992.06, and the Nifty up 122.80 points or 1.17% at 10595.30.
Avenue Supermart is down, while Yes Bank, HDFC, TCS, Indiabulls Housing, Dhampur Sugar, Praj Industries are among the major gainers in the pre-opening trade
Crude Update: Crude oil futures rose sharply on Monday as geopolitical tensions over the disappearance of a prominent Saudi journalist stoked worries about supply, although concerns about the long-term outlook for demand dragged on prices, reported Reuters.
Asia trades weak: Asian shares slipped on Monday as worries over Sino-US trade disputes, a possible slowdown in the Chinese economy and higher US borrowing costs tempered optimism despite a rebound in global equities late last week.
Not helping the mood, oil prices jumped and Saudi Arabian shares tumbled on rising diplomatic tensions between Riyadh and the West after the monarchy warned against threats to punish it over disappearance of a journalist.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.3 percent while Japan's Nikkei dropped 0.9 percent.
Wall Street ends higher on Friday: Even the hard-hit S&P500 energy and financial sectors managed to close the session with slight gains after a late afternoon rally.
The S&P technology index gained 3.2 percent on the day, showing its strongest one-day gain since March 26, although it still registered its biggest weekly drop since March 23.
The Dow Jones Industrial Average rose 287.16 points, or 1.15 percent, to 25,339.99, the S&P 500 gained 38.76 points, or 1.42 percent, to 2,767.13 and the Nasdaq Composite added 167.83 points, or 2.29 percent, to 7,496.89.