D-Street ends rangebound day on a flat note, Nifty holds 10,550; pharma, IT crack


Market at close: The market ended the rangebound session on flat note, with the NIfty finishing above 10,550. 

The Sensex is down 2.50 points at 35141.99, while Nifty down 6.20 points or 0.06% at 10576.30. 
About 1174 shares have advanced, 1397 shares declined, and 138 shares are unchanged.  
Market Update: Benchmark indices are trading in a range on Wednesday afternoon with Nifty hovering around 10,600 level.
The Sensex is up 21.92 points or 0.06% at 35166.41, while Nifty up 5 points or 0.05% at 10587.50. About 1162 shares have advanced, 1212 shares declined, and 130 shares are unchanged.    
Motherson Sumi Systems Q2 result: The company reported 15 percent fall in its year on year consolidated net profit at Rs 371 crore against Rs 436.20 crore.
Its SMR revenue was at Rs 3,159 crore and SMP revenue at Rs 6,967 crore.
Buzzing: Shares of Ashok Leyland slipped 9 percent on the back of resignation of MD and CEO of the company. The company board announced the resignation of its managing director and chief executive officer (MD & CEO) Vinod K. Dasari effective March 31, 2019.
Meanwhile, the automobile major reported 38 percent growth year on year in its net profit for September quarter at Rs 460 crore against Rs 334 crore that the company posted last year. 
PhillipCapital on NCC: Research house maintained buy rating on the stock and raised target to Rs 145 from Rs 135 per share.
It expect momentum to continue in H2FY19 and FY20 and remains positive on NCC story of strong earnings growth.
Market Update: Investors have booked some profits in the past few minutes, with benchmarks giving up majority of gains. 
The Sensex is up 36.24 points or 0.10% at 35180.73, while the Nifty is higher by 20.00 points or 0.19% at 10602.50. The market breadth is positive as 1,014 shares advanced, against a decline of 663 shares, while 68 shares were unchanged.
Asian Paints, Tata Steel, HPCL and BPCL are the top gainers, while Sun Pharma, Infosys, and Zee Entertainment lost the most. 
Market opens: It’s a solid start on D-Street as equity benchmarks continued to cheer fall in crude oil prices and an appreciating rupee. 
The Nifty is trading above 10,600-mark, while the Sensex as opened 150 points higher. 
Among sectors, banks, energy, metals and consumption names are trading higher, while IT stocks are under pressure due to weak rupee. The Nifty Midcap index is up over 0.60 percent. 
The Sensex is up 152.49 points or 0.43% at 35296.98, while the Nifty is higher by 55.50 points or 0.52% at 10638.00. The market breadth is positive as 393 shares advanced, against a decline of 85 shares, while 23 shares were unchanged.
Oil slumps 7% to 1-year low as rout extends to 12 days
Oil’s slide accelerated on Tuesday, with US futures suffering their steepest one-day loss in more than three years due to ongoing worries about weakening global demand and oversupply. US futures closed down 7.1 percent, for a record 12th straight decline and the lowest since November 2017. More than 980,000 contracts changed hands, as funds shed positions.
US West Texas Intermediate (WTI) crude oil futures were at $55.66 per barrel at 0043 GMT, down 3 cents from their last settlement.
Market at Pre-Open: Benchmark indices are trading higher in the pre-opening session with Nifty trading above 10,600 level.
At 09:01 hrs IST, the Sensex is up 261.14 points or 0.74% at 35,405.63, while Nifty up 43.40 points or 0.41% at 10625.90.
Rupee opened strong at 72.16 per dollar against previous close 72.67.
Market Headstart: Nifty likely to open higher; 3 stocks which could give 8-12% return
Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 27.5 points or 0.26 percent. Nifty futures were trading around 10,632-level on the Singaporean Exchange.
Crude Update: Oil markets remained on a weak footing on Wednesday after a 7 percent slump the previous session, with surging supply and expectations of faltering demand pressuring crude prices, reported Reuters.
Asia trades weak: Asian shares edged lower as investors fretted about slowing global growth with crude oil prices sinking on worries about weakening world demand and oversupply, reported Reuters.
Wall Street ends lower: The Dow and S&P 500 ended slightly lower on Tuesday following losses in energy shares and Boeing, offsetting a small gain in technology stocks and renewed hopes for progress in trade talks.