Sensex falls 64 points, Nifty ends above 10,500; PSU banks gain big
05 Nov 2018
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Market at Close: Last hour buying helped the Indices to recover some ground with Nifty ended above 10,500 level.
Among the sectors, the Nifty PSU bank index remained the major contributor to the recovery as it ended higher by more than 3 percent. Nifty IT and Metal index also ended in green, while auto, infra, pharma and FMCG index ended in red.
At the close of market hours, the Sensex was down 64.02 points at 34,947.63, while the Nifty was down 29 points at 10,524. About 1324 shares have advanced, 1292 shares declined, and 155 shares are unchanged.
SBI, Axis Bank, Reliance Industries, Wipro and Coal India are the top gainers, while IndusInd Bank, NTPC, Power Grid Corp, Hero Motocorp and Adani Ports lost the most on the Sensex.
Lupin receives FDA approval: The company has received approval for its Doxercalciferol Injection, 4 mcg/2 mL (2 mcg/mL) Multi-dose Vials from the United States Food and Drug Administration (FDA) to market a generic version of Sanofi Genzyme's Hectorol Injection.
Market Update: A sell-off in pharmaceuticals and NBFC names have dragged the market lower. The Sensex is down over 150 points, while the Nifty has given up 10,500-mark.
The Sensex is down 159.42 points or 0.46% at 34852.23, and the Nifty down 61.80 points or 0.59% at 10491.20. The market breadth is negative as 1,149 shares advanced, against a decline of 1,274 shares, while 137 shares were unchanged.
Automobiles, consumption, infrastructure, and pharmaceuticals are the big losers, while PSU banks have rallied. A rise in SBI is holding the fort for Nifty PSU bank index. Meanwhile, weakness is visible in the midcaps space, with Nifty Midcap falling over a percent.
MANAGEMENT COMMENTARY
Indiabulls Housing has said that it carries high quality liquid assets of over Rs 21,000 crore, CNBC-TV18 has reported. In the last 45 days, it raised over Rs 8,000 crore through a variety of instruments. Further, it added that since October 1, 2018, it has repaid Rs 7,850 crore of commercial papers, including Rs 1,025 crore on Monday.
Market Update: Equity benchmarks are trading lower, with the Nifty hovering above 10,500.
The Sensex is down 102.25 points or 0.29% at 34909.40, and the Nifty down 45.00 points or 0.43% at 10508.00. The market breadth is negative as 1,136 shares advanced, against a decline of 1,171 shares, while 125 shares were unchanged.
Axis Bank and State Bank of India are the top gainers, while NTPC, IndusInd Bank, Indiabulls Housing and IOC have lost the most.
Gold Updates: Gold prices held steady on Monday as investors were cautious ahead of the US congressional elections due on Tuesday which will determine whether the Republican or Democratic Party controls Congress, reported Reuters.
Market Update: Equity benchmarks are trading flat, erasing a huge chunk of losses.
At 10:02 hrs IST, the Sensex is down 7.48 points or 0.02% at 35004.17, and the Nifty down 11.30 points or 0.11% at 10541.70.
The market breadth is positive as 1,153 shares advanced, against a decline of 661 shares, while 97 shares were unchanged.
Banks have turned flat from the negative territory, while auto, consumption, pharmaceuticals and IT trading in the green. The Nifty Midcap index is up over one-third of a percent.
Strides Pharma up 3%: Share price of Strides Pharma Science added 3 percent in the early trade on Monday on successful completion of USFDA inspection of Bangalore unit.
The company's formulations facility in Bangalore recently underwent a USFDA inspection that ended on November 2, 2018. The inspection was completed successfully with Zero 483 observations, company said in release.
Market opens: It’s a negative start to the week, with the Nifty trading around one-third of a percent lower.
The Sensex is down 71.27 points or 0.20% at 34940.38, while the Nifty is lower by 37.60 points or 0.36% at 10515.40. The market breadth is narrow as 395 shares have advanced, against a decline of 203 shares, while 52 shares are unchanged.
The Bank Nifty is lower by around 0.4 percent, while energy and infra sectors have declined the most. In the broader markets, the Nifty Midcap index is down over half a percent too.
Shares of Axis Bank and ONGC are up over 3 percent on the back of good results.
Market at pre-open: Equity benchmarks have started higher in pre-opening trade, with the Nifty surging past 10,550.
At 09:03 hrs IST, the Sensex is up 249.39 points or 0.71% at 35261.04, while the Nifty is higher by 10.70 points or 0.10% at 10563.70. The Indian rupee has opened weaker at 72.80 per US dollar.
Wall Street ends higher on Friday: US stocks snapped a three-day rally on Friday as Apple shares dropped following a disappointing forecast and the White House dampened optimism over US-China trade talks, reported Reuters.
