Sensex ends 176 points lower, Nifty just below 10,200; midcaps outperform

CNBC

Market at Close: It’s a negative close for the market and the Nifty has managed to close below 10,200-mark.  

At the close of market hours, the Sensex is down 176.27 points or 0.52% at 33891.13, while the Nifty is lower by 52.50 points or 0.51% at 10198.40. The market breadth is narrow as 1,472 shares advanced, against a decline of 1,066 shares, while 1,104 shares were unchanged.
Infosys, State Bank of India, Tech Mahindra and Zee Entertainment are the top gainers, while IndusInd Bank, Coal India, and HPCL have lost the most.    
Market Update: Benchmark indices are trading lower in the afternoon trade on Tuesday with Nifty is hovering around 10,200 level.
The Sensex is down 105.12 points or 0.31% at 33962.28, while Nifty is down 27.40 points or 0.27% at 10223.50. Meanwhile, midcap and smallcap are outperforming the main indices with 1 percent gain.
Citi on Cipla: Research house maintained buy rating on stock with a target price of Rs 690. The Toprol XL is another good approval.
Company has received several approval in last few months which would lead to earnings growth. Its US business is at inflection point, while ramp up to be a key catalyst.
Corporate Scorecard
Tata Tele (Mah) 
The company has reported a net loss of Rs 382.3 crore for the quarter against a loss of Rs 455.3 crore during the previous quarter. 
The revenue fell 4 percent at Rs 321.8 crore versus Rs 334.5 crore year on year. 
Hind Rectifiers 
Net profit was reported at Rs 2.4 crore against a loss of Rs 0.8 crore previous year. The revenue has been reported at Rs 59.4 crore against Rs 24 crore year on year. 
Gateway Distriparks 
The consolidated net profit fell 2 percent at Rs 17.4 crore against Rs 17.8 crore YoY. The revenue rose 7 percent at Rs 104.5 crore against Rs 97.6 crore year on year.  
Gujarat Borosil 
Its net profit was reported at Rs 5.3 crore against Rs 1 crore year on year. Its revenue rose to 13 percent at Rs 56.5 crore. 
Ramco Cements 
Net profit has fallen 32 percent at Rs 114.5 crore against Rs 168.5 crore year on year. Revenue rose 11 percent to Rs 1, 183.5 crore against Rs 1,066.4 crore year on year. 
Bank of Maharashtra’s asset quality improves: Bank of Maharashtra has reported a net profit of Rs 27 crore against a loss of Rs 23.2 crore during the same period of last year. 
The net interest income grew 4 percent to at Rs 1,003 crore against Rs 963.1 crore year on year. 
On the asset quality front, the gross non-performing assets (NPAs) fell to 18.64 percent from 21.18 percent from the previous quarter. The net NPA has fallen to 10.61 percent from 12.20 percent.  
INDIA ON ITS WAY TO BE ONE OF THREE RICHEST NATIONS IN WORLD: AMBANI
Having missed the first three industrial revolutions, India is now in a position to lead the fourth on the back of its vast tech-savvy young population and is on the way to becoming one of the three richest countries in the world, billionaire Mukesh Ambani said Tuesday.
Speaking at the 24th MobiCom conference, Ambani, who heads the oil-to-telecom conglomerate Reliance Industries, said India's digital transformation is "unmatch and unprecedented" after it took leadership position from being 155th in wireless broadband technology adoption in just 24 months.
Back in the 1990s, when Reliance was building its oil refinery and petrochemical projects, India's gross domestic product (GDP) was around USD 350 billion and had just come out of a severe financial crisis.
"Very few in the world thought that our country's prospects were bright. Today our GDP is nearing USD 3 trillion, and India is well on its way to becoming one of the three richest countries in the world," he said. 
Macquarie on Tata Power: Macquarie has put neutral call on the stock with target of Rs 83. The high powered committee’s recommendations may enable reduction of cash losses at Mundra, thus providing major relief. Also, few steps remain towards implementation & extent of benefit will depend on the final CERC order.
Glenmark gets approval: Glenmark Pharmaceuticals Inc., USA has been granted final approval by the United States Food & Drug Administration (USFDA) for Fluocinolone Acetonide Topical Oil, 0.01% (Scalp Oil), a generic version of Derma-Smoothe/FS Topical Oil, 0.01% (Scalp Oil), of Hill Dermaceuticals, Inc. 
CESC down 26% post demerger: CESC shares fell as much as 25.63 percent in morning on Tuesday after the stock adjusted for demerger of non-power investments into new companies. As per the scheme of arrangement, the company would be demerged into two entities as planned in the scheme, viz. new Retail and Venture companies. Hence, now, there would be three companies, viz. CESC, new Retail (RP-SG Retail Limited) and Venture Companies (RP-SG Business Process Services Limited).
Market Update: It’s a sharp recovery for the market as indices have turned green now. The Nifty is hovering above 10,250.
The Sensex is up 87.41 points or 0.26% at 34154.81, and the Nifty up 25.80 points or 0.25% at 10276.70. The market breadth is positive as 1,357 shares advanced, against a decline of 575 shares, while 1,699 shares were unchanged.
Tata Motors, Infosys, and Tech Mahindra are the top gainers, while RIL, Coal India, BPCL and HPCL have lost the most. 
Market Update: Equity benchmarks are off their low points, with the Nifty hovering around 10,250. The Sensex is down just around 20 points. 
The Sensex is down 21.19 points or 0.06% at 34046.21, and the Nifty down 10.90 points or 0.11% at 10240.00. The market breadth is positive as 1,114 shares advanced, against a decline of 525 shares, while 1,992 shares were unchanged.
Shares of Yes Bank, Infosys, and GAIL were the top gainers, while Reliance Industries, Coal India, BPCL and HPCL lost the most.  
Buzzing: Shares of Just Dial added 11 percent in the early trade on Tuesday as company reported better numbers for the quarter ended September 2018.
The company’s Q2 net profit rose 29 percent to Rs 48.38 crore versus Rs 37.46 crore in the same quarter last year. Revenue increased to Rs 221.03 crore versus Rs 194.47 crore.
Market Opens: Benchmark indices open lower on Tuesday with Sensex is down over 100 points, while Nifty is holding above 10,200.
At 09:16 hrs IST, the Sensex is down 103.45 points or 0.30% at 33963.95, and the Nifty down 39.40 points or 0.38% at 10211.50.
Tata Motors, Hindalco, Gail, Yes Bank, HCl Tech, IndusInd Bank, Asia, Paints are the major gainers on the indices. Oil marketing companies HPCL, BPCl, IOC are trading lower by 1-3 percent.
Market at pre-open: Benchmarks are likely to have a subdued start, with Sensex rising over 50 points in pre-opening trade, while the Nifty is trading flat. 
At 09:07 hrs IST, the Sensex is up 7.74 points or 0.02% at 34075.14, and the Nifty down 10.60 points or 0.10% at 10240.30.
Shares of BPCL are trading lower by around 10 percent, while LIC Housing Finance is up 10 percent. 
Wall Street ends lower: US stocks fell in a volatile session on Monday, with the benchmark S&P 500 index ending close to confirming its second correction of 2018, hurt by fresh worries about US-China trade policy tensions and a sharp drop in the big technology and internet shares, reported Reuters.