Sensex ends flat, Nifty fails to close above 10,900; Sun Pharma down 8%
03 December 2018
Market at Close: After trading around the flat line for a greater part of the session, equity benchmarks have ended in the green. The Nifty failed to close above 10,900, though.
Consumption, IT, metals and PSU banks were the big gainers, while the Nifty Midcap index outperformed frontline indices.
Pharmaceuticals were the big losers, with the Nifty Pharma ending over 2 percent lower.
At the close of market hours, the Sensex was up 46.70 points or 0.13% at 36241.00, while the Nifty was higher by 7.00 points or 0.06% at 10883.80. The market breadth was narrow as 1,328 shares advanced, against a decline of 1,263 shares, while 160 shares were unchanged.
Yes Bank, HUL, and Indiabulls Housing gained the most, while Sun Pharma, M&M, and HPCL were the top losers.
Market Update: Benchmark indices erased most of its morning gains as Nifty is trading below 10,900 level.
The Sensex is up 30.13 points at 36,224.43, while Nifty is up 1.60 points at 10, 878.40. About 1212 shares have advanced, 937 shares declined, and 107 shares are unchanged.
Buzzing: Shares of Shankara Building Products locked at 10 percent lower circuit on Monday after IDFC Securities downgraded the stock to underperform from neutral. It has touched a 52-week low of Rs 626.15.
IDFC Securities has cut target price to Rs 525 from Rs 1,065 per share.
NOMURA ON INDIAN TYRE INDUSTRY
Global research firm believes that the Indian tyre industry is witnessing a phase of cyclical uptick in demand.
The industry fundamentals are in a better shape now due to the demand and high utilization as well, analysts at the firm wrote in their report.
It sees 8 percent volume CAGR over FY18-21.
The segment is a good play on the back of healthy growth outlook, pricing discipline, and benign commodity prices, which will support margins.
Further, the benign commodity prices could also lead to 20-25% EBITDA CAGR over FY18-21.
NIKKEI MANUFACTURING PMI RISES TO 54 IN NOVEMBER
Nikkei India Manufacturing PMI for November has risen to 54, up from 53.1 that was recorded in October.
The latest figure signalled the strongest improvement in the health of the sector in almost one year.
Market Update: Equity benchmarks are marginally off their day’s highs. The Nifty has continued to hold 10,900, while the Sensex is up over 150 points.
The Sensex is up 178.31 points or 0.49% at 36372.61, while the Nifty is higher by 43.00 points or 0.40% at 10919.80. The market breadth is positive as 1,011 shares advanced, against a decline of 660 shares, while 70 shares were unchanged.
Vedanta, Tata Steel and Indiabulls Housing are the top gainers, while Sun Pharma, M&M, and HPCL have lost the most.
Market opens: The market has had a good start on Monday morning, with the Nifty trading above 10,900, while the Sensex gained over 200 points.
Metals are trading strong, followed by consumption and banking names, while IT stocks are performing well too. The Nifty Midcap is up over half a percent.
The Sensex is up 234.77 points or 0.65% at 36429.07, and the Nifty is higher by 54.60 points or 0.50% at 10931.40. The market breadth is positive as 393 shares advanced, against a decline of 116 shares, while 34 shares were unchanged.
Vedanta, Yes Bank, and Hindalco were the top gainers, while Sun Pharma, Hero MotoCorp, and HPCL lost the most.
Market at pre-open: Benchmark indices gained in the pre-opening trade with Nifty is trading above 10,900 level.
Sun Pharma is down 10 percent in the pre-opening trade, while Yes Bank is trading with 3 percent gain
At 09:02 hrs IST, the Sensex is up 105.46 points or 0.29% at 36299.76, and the Nifty up 63.60 points or 0.58% at 10940.40.
Stocks in the news: Tata Motors, SpiceJet, Maruti, Escorts, Biocon, Laurus Labs, Prakash Industries
Here are the stocks that are in news today: Tata Motors : Company witnessed a drop of 4 percent at 50,470 units in November 2018 as against 52,464 units over last year, due to low consumer sentiments as a result of liquidity crisis in the industry, higher interest rates and rising fuel costs.
Asian markets trade higher: Asian shares rallied on Monday after US and Chinese leaders brokered a truce in their trade conflict, a relief for the global economic outlook and a tonic for emerging markets.
US markets end higher on Friday: Wall Street rose on Friday as investors hoped for progress on trade in a critical US-China meeting over the weekend, and the S&P 500 and the Nasdaq posted their biggest weekly percentage gains in nearly seven years.
SGX Nifty: Trends on SGX Nifty indicate a positive start for the broader index in India, a gain of 66 points or 0.60 percent. Nifty futures were trading around 10,976-level on the Singaporean Exchange.