Share Market highlights: Sensex ends 262 points down after Saudi oil attack; M&M, SBI top losers

Share Market highlights: The headline indices Sensex and Nifty extended losses on Monday afternoon after Saudi oil attack.

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Why attack on Saudi Arabia leaves world without spare oil capacity

The attack on Saudi oil facilities on Saturday not only knocked out over half of the country's production, it also removed almost all the spare capacity available to compensate for any major disruptio

Commodities News

Oil prices soar after drone attack on Saudi Aramco oil facility hits supply

Global oil prices surged the most on record after a strike on a Saudi Arabian oil facility removed about 5% of global supplies, an attack the U.S. has blamed on Iran.

Brent jumped more than 19% on ICE Futures Europe to $71.95 a barrel, its biggest gain in percentage terms since 1991 News

Lemon Tree Hotels rating | Buy — Execution of strategy will be key

LEMONTRE had a debt of Rs 12.66 bn; of this, 55% can be attributed to adult hotels, which have the capability of generating enough cash to service the debt themselves.

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Cement stocks: Volumes are trailing estimates, risk-reward is favourable

Dealers across most regions suggest companies are attempting a Rs 10-15/bag hike from mid-Sep’19 (Rs 40-50/bag in AP) mainly to avoid further fall in prices.

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Tech Mahindra rating: Add — Enterprise segment prospects getting better

Tech Mahindra indicated that the broader slowdown in the auto industry reflected in weak growth numbers for the manufacturing vertical.

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FPIs turn net buyers, infuse Rs 1,841 crore in first half of September

According to the latest depositories data, foreign portfolio investors (FPIs) withdrew a net amount of Rs 2,031.02 crore from equities but put in Rs 3,872.19 crore in the debt segment during September

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Markets to eye global factors, macro data; stimulus measures may lift sentiment: Analysts

Factors such as movement of rupee against the US dollar and foreign capital flows will also influence trading sentiment in the market.

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Dry spell in IPO market: Only 11 companies hit bourses this year compared to 24 in 2018

"The IPO market will continue to remain tough during the year. There has been steep correction in valuation of mid and small cap stocks, which deters the primary market," Reliance Securities Head of R

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Six of 10 most valued cos add Rs 50,580 crore in m-cap; SBI, ICICI Bank lead

ICICI Bank's valuation jumped Rs 14,062.37 crore to Rs 2,66,874.13 crore.

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Saudi oil output cut in half after drones strike Aramco site

Iran-backed Houthi rebels in Yemen, who’ve launched several drone attacks on Saudi targets in the past, claimed responsibility for the assault on the kingdom’s Abqaiq plant.

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PFC raises global bond issuance size to USD 5 billion

The net proceeds from the issuance of 5-year Notes will be applied for on-lending in the power sector and the net proceeds from the issuance of 10-year Notes will be applied for general corporate purp

Markets News

Altico downgrade: MFs to create segragated portfolio

The data from Value Research show that mutual funds have an exposure of Rs 537.67 crore in Altico Capital India as of August 2019.

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Infosys, TCS enjoy best prospects to deliver growth outperformance

Overall our price targets for 5 top-tier companies rise by 2-10%, as a result of the changes.

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Dr Reddy’s Laboratories Rating: Reduce; Stock price overvaluing opportunities

The company has demonstrated very effective cost control with 250bps margin expansion in FY19 and our estimates assume additional benefit of ~100bps base business margin expansion from the ongoing eff

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Rupee rises 21 paise to hit a month high of 70.92

The rupee was earlier trading at a six paise premium on the non-deliverable forward (NDF) market.

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Container Corporation of India: ‘Hold’; TP at Rs 570, says Edelweiss

Despite this near-term pain, the Western DFC has the potential to double India’s container rail ecosystem, in our view.

Container Corporation of India, Edelweiss, Container Corp, rail volume, investors’ concerns News

Axis Capital: ‘Add’ on Equitas Holdings; target price at Rs 125

ESFB will not be permitted to open new branches without RBI permission. Remuneration of MD & CEO will be frozen at existing levels.

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Sebi turns down Equitas Holdings scheme for ESFB

The bank has to grow per-branch productivity. It is expecting that there would not be any material impact on growth for a couple of years due to this.

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GoAir to hit the market with Rs 5,000 crore IPO

The airline has appointed Morgan Stanley, JM Financial, ICICI Securities and Citi as lead bankers for its public issue.

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Rupee extends winning run to 7th consecutive day; rises 22 paise to 70.92 vs dollar

The Indian currency has appreciated by 147 paise in the last seven trading sessions.

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Commodity derivatives: Sebi adds diamond, base metals and alloys to liquid assets list

Currently, the list of commodities permitted as liquid assets consists of bullion, steel and agricultural commodities.

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Sensex ends up 300 points, Nifty above 11,050; key reasons

The benchmark equity indices -- Sensex and Nifty -- ended the intraday trade on a positive note buoyed by the rise in the financial and IT stocks in the hopes of the government announcing more reforms

Markets News

Gold rises Rs 70 to Rs 38,695 per 10 gram

In the bullion market here, gold rose to Rs 38,695 per 10 gram from its previous closing price of Rs 38,625 per 10 gram, it said.

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IRCTC IPO could be launched this Navratri season; much awaited PSU public issue soon

The much-awaited Rs 600 crore Indian Railway Catering and Tourism Corporation (IRCTC) public offer may hit the stock market coming Navratri, sources aware of the development told Financial Express Onl

Markets News

HDFC AMC’s Prashant Jain explains why slowdown will not affect stock market much

Even as the stock market remains amid the ongoing slowdown, Prashant Jain of HDFC AMC says that the stock market will not be affected much by it, given the composition of the Nifty.

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Investors’ last best hope fast fading away as slowdown grips India, other emerging nations

The power of consumers is becoming the last best hope for emerging market investors as global recession risks rise. But even that’s starting to crack.

In July, overseas investors had pulled out a net amount of Rs 2,985.88 crore from the capital markets. (Representational image) News
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