Sensex ends over 300 points higher, Nifty above 10,750; consumption, metals gain big
19 November 2018
Market at Close: It’s a strong start to the week, with the Sensex ending over 300 points higher, while the Nifty surged past 10,750 on the back of intense buying.
Buying counters were buzzing among sectors such as automobiles, consumption, energy, infrastructure, IT, metals and pharmaceuticals as well. In the broader markets, the Nifty Midcap index rose around half a percent.
Financials saw a rally as news reports indicated that the central bank was open to tweaking/review of PSU banks’ prompt corrective action (PCA) plan.
At the close of market hours, the Sensex closed up 317.72 points or 0.90% at 35774.88, while the Nifty was higher 81.20 points or 0.76% at 10763.40. The market breadth was narrow as 1,330 shares advanced, against a decline of 1,278 shares, while 160 shares were unchanged.
Yes Bank and ITC were the top gainers, while ONGC, ICICI Bank, Indiabulls Housing and GAIL lost the most.
Morgan Stanley on Glenmark Pharma: Research house maintained equal-weight call on the stock and raised target to Rs 615 from Rs 567 per share.
According to Morgan Stanley the near-term business outlook appears modest, while balance sheet remains stretched.
The prospects of unlocking value in IP pipeline are distant.
Market Update: Halfway to the trading session, and it has been a day of gain so far. The Sensex is up over 100 points, while the Nifty has held 10,700-mark.
A recovery in banking names, especially PSU banks, have aided sentiment on D-Street. Automobiles, consumption, metal and pharma names are the other top gainers. The Nifty Midcap index is up around half a percent.
The Sensex is up 136.88 points or 0.39% at 35594.04, while the Nifty is higher by 31.20 points or 0.29% at 10713.40. The market breadth is narrow as 1,186 shares advanced, against a decline of 1,084 shares, while 140 shares were unchanged.
Yes Bank, Tata Motors, and Hindalco have gained the most, while ONGC, ICICI Bank, GAIL and Indiabulls Housing lost the most.
NSE ROLLS OUT APP, WEB PLATFORM TO HELP RETAIL INVESTORS BUY GOVT SECURITIES
The National Stock Exchange has launched an app and web platform ‘NSE goBID’ which will enable retail investors to buy government securities.
The app will be available to all registered investors with NSE’s trading members and will also facilitate trading members in acquiring new retail investors.
It will allow retail investors to make payment directly from their bank accounts using the Unified Payments Interface (UPI) and internet banking.
Through the app, retail investors can invest in treasury bills (T-Bills) of 91 days, 182 days and 364 days and various government bonds from one year to almost 40 years. Investment can be done almost every week after a one-time registration.
Market Update: Benchmark indices are trading firm buy off day's high with Nifty holding just above 10,700 level and Sensex is up 100 points.
The Sensex is up 104.60 points at 35,561.76, while Nifty up 20.80 points at 10703. About 1115 shares have advanced, 1055 shares declined, and 127 shares are unchanged.
Yes Bank, Tata Motors, Vedanta, Sun Pharma and ITC are the top gainers on the Sensex.
Oil India gains ahead of board meeting: Share price Oil India gained 2.6 percent ahead of board meeting scheduled to be held on November 19, 2018.
The board is going to consider the proposal for buyback of the fully paid-up equity shares of the company.
The board will also consider issuance of debt securities in domestic/overseas markets.
Buzzing: Shares of PNB Gilts fell 3.3 percent after company reported weak set of numbers for the quarter ended September 2018.
In Q2FY19 the company has posted net loss at Rs 33.18 crore versus profit at Rs 28.84 crore in the same quarter last fiscal.
Buzzing: Share price of Tata Investment Corporation gained more than 8 percent in the early trade on Monday after company approved the buyback plan.
The company board approved a proposal to buyback upto 45 lakh equity shares of the company for an aggregate amount not exceeding Rs 450 crore being 8.17 percent of the total paid-up equity share capital, at Rs 1,000 per share.
Market opens: Equity benchmarks have opened higher on Monday with Nifty is well above 10,700 mark, while Sensex also gained more than 150 points.
At 09:16 hrs, the Sensex is up 160.65 points at 35,617.81, while Nifty is up 40.60 points at 10722.80. About 536 shares have advanced, 231 shares declined, and 44 shares are unchanged.
Jet Airways down 10 percent, Bharti Airtel is down 2 percent, Siemens is down 4 percent, HPCL, IOC, ICICI Bank, Axis Bank are among major losers. Tata Investment gained 7 percent.
Market at pre-open: Indian indices are trading higher in the pre-opening trade with Nifty is trading above 10,700 level.
At 09:01 hrs IST, the Sensex is up 124.64 points or 0.35% at 35581.80, while Nifty up 61.20 points or 0.57% at 10743.40.
The Indian rupee opened flat at 71.92 per dollar on Monday versus previous close 71.92.
What changed for the market while you were sleeping? Top 15 things to know
The Nifty 50 closed higher for the second consecutive session and decisively crossed its crucial 10,650 resistance level on November 16. Positive global cues and appreciation of the rupee supported the market.
Asian markets trades firm: Asian shares inched cautiously higher on Monday amid conflicting signals on the chance of a truce in the Sino-US trade dispute, while a new-found air of concern on the global outlook at the Federal Reserve undermined the dollar.
Wall Street ends mixed on Friday: The S&P 500 and Dow Industrials rose on Friday after President Donald Trump said the United States may not have to impose further tariffs on Chinese goods, but falling shares of Nvidia Corp dragged down the Nasdaq.