Share market HIGHLIGHTS: Sensex ends below 35,000, Nifty slips 73 pts; M&M drops 3%, RIL top index drag

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Updated:Nov 22, 2018 5:10:36 pm

Stock market HIGHLIGHTS: The Indian stock market extended losses for the third consecutive session today, with the Sensex closing 218.78 points or 0.62% lower at 34,981.02 points. The NSE Nifty closed below the 10,550-mark. M&M was the top loser on both the headline indices.

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Share market LIVE today: The Indian stock market extended losses for the third consecutive session today, with the Sensex closing 218.78 points or 0.62% lower at 34,981.02 points. The NSE Nifty closed below the 10,550-mark. All sectoral indices on the National Stock Exchange — barring the media index — slipped into the negative territory. M&M was the top loser on both the headline indices.

The BSE Sensex rose over 150 points during the early morning trade session on Thursday after opening on a flat note with marginal gains. The NSE Nifty, too, edged higher and moved closer to the 10,650-mark. Bharti Airtel was the top loser in opening trade.

Asian shares seesawed in cautious trading on Thursday with China extending losses as investors fretted about slowing global growth in the face of rising U.S. interest rates and trade tensions, said a Reuters report. Oil prices slipped after US crude inventories swelled to their highest level since December 2017 amid concerns of an emerging global glut, although the potential for a supply cut by OPEC prevented further drops.

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Highlights

    17:10 (IST)22 Nov 2018
    Stock markets closed tomorrow.

    The Indian stock markets, forex and commodities markets will remain closed tomorrow, November 23 (Friday), on account of Gurunanak Jayanti.

    16:29 (IST)22 Nov 2018
    Viewpoint: BNP Paribas Mutual Fund

    "Stocks markets in India drifted higher in early trade as buying resumed in the market after a two-day slide. Volatility subsequently struck the bourses in afternoon trade as the key benchmark indices erased intraday gains to sink in negative zone. Both the benchmark Sensex and the Nifty finally closed the day with losses of ~0.50%. On the sectoral front, barring the media index which gained over 1%, all other sectoral indices on the National Stock Exchange closed the day with sharp losses."

    -- Abhijeet Dey, Senior Fund Manager-Equities, BNP Paribas Mutual Fund

    15:47 (IST)22 Nov 2018
    This Sensex stock has multiplied wealth by more than 14 times in last 10 years!

    While investors maybe scouting for opportunities to invest in bluechip stocks, India’s largest automaker Maruti Suzuki, which ranks among the most consistent stocks, is attractive at current levels, according to a report. Notably, Maruti Suzuki shares, currently selling for Rs 7,461 on NSE, has multiplied wealth by more than 14 times in the last 10 years.

    Read about the stock here: This Sensex stock has multiplied wealth by more than 14 times in last 10 years; Motilal Oswal says buy

    15:33 (IST)22 Nov 2018
    CLOSING BELL: Sensex ends below 35,000, Nifty down 73 points

    The Indian stock market extended losses for the third consecutive session today, with the Sensex closing 218.78 points or 0.62% lower at 34,981.02 points. The NSE Nifty closed below the 10,550-mark. Check out the top losers and gainers on the Sensex.

    15:06 (IST)22 Nov 2018
    ONGC ordered to pay Rs 242 cr to Mumbai Port Trust

    Oil and Natural Gas Corporation (ONGC) has been ordered to pay about Rs 242 crore to the Mumbai Port Trust (MbPT) as wharfage compensation for the transportation of crude oil through the two pipelines the company had laid within the limits of the state-run port. In a regulatory filing, state-owned ONGC said it is examining the admissibility of the claim. The Tariff Authority for Major Ports (TAMP) passed an order for wharfage compensation payable by ONGC on October 3, 2018.

    ONGC shares were trading 0.69% higher at Rs 152.80 per share on the BSE.

    14:58 (IST)22 Nov 2018
    BSE live! Check top mid-cap gainers and losers

    IDFC Bank stocks surged over 8% even as the BSE mid-cap index traded with over 0.60% losses. Other mid-cap stocks like Sun TV, Tata Power, Page Industries, IIFL, Castrol India and TVS Motors traded in the red.

    14:42 (IST)22 Nov 2018
    Nifty media only index in green!

    All sectoral indices on the National Stock Exchange -- barring the media index -- slipped into the negative territory during the late afternoon trade deals today.

    14:31 (IST)22 Nov 2018
    M&M, UltraTech Cement among top losers on Nifty

    The NSE Nifty ceded gains and slipped below the 10,600 level during the mid-afternoon trade deals today on the back of heavy selling pressure in all the sectors, barring the IT and media indices. M&M emerged as the top loser on the Nifty index. Check the top 10 losers here:

    14:22 (IST)22 Nov 2018
    Dollar slips for a second day in quiet trading

    The dollar edged lower for a second consecutive day on Thursday as greater risk appetite board encouraged investors to sell the greenback after a recent rally, said a Reuters report. Indicators of risk in the currency markets such as the euro against the Swiss franc and the Canadian dollar flashed green, though gains were tiny, since U.S. markets were shut for Thanksgiving Day. Against a basket of other currencies, the dollar slipped 0.1% at 96.65, retreating away from a near 1 1/2- year high of 97.693, hit earlier this month.

    13:10 (IST)22 Nov 2018
    Sensex slips into red

    The BSE Sensex slipped into the negative territory during the mid-afternoon trade session today on the back of heavy selling pressure in banking, metals and auto stocks. Around 1.05 pm, the Sensex traded 11.97 points or 0.03% lower at  35,187.83 points. Check out the top Sensex gainers and losers here:

    12:33 (IST)22 Nov 2018
    Rupee top gainer among Asian currencies

    Most Asian currencies firmed slightly on Thursday as the dollar's softening after two strong sessions restored some appetite for emerging-market risk, said a Reuters report. Sentiment was further lifted by a dip in oil prices, as most major regional economies are net importers of the commodity and any fall should aid key economic indicators. The Indian rupee, resuming trade after a holiday on Wednesday and gains the first two days this week, was the top gainer, firming as much as 0.5% to hit a fresh 11-week high of 71.110 against the dollar.

    12:28 (IST)22 Nov 2018
    IL&FS Transportation Networks delays Q2 results citing group co's NCLT proceedings

    IL&FS Transportation Networks, part of the troubled IL&FS group, Thursday cited NCLT insolvency proceeding as the reason for delay in filing September quarter financial results with the stock exchanges and said it will declare quarterly numbers at the earliest, said a PTI report. As per the listing norms with BSE and NSE, companies are required to file the results on a quarterly basis within 45 days from the end of the quarter. 'The newly appointed board of IL&FS is in the process of preparation of roadmap and its subsequent submission to NCLT, which will require IL&FS Transportation Networks Ltd (ITNL) to undertake divestment, restructuring and/or consolidation of its assets...which will have an impact on the accounting and financial aspects of ITNL,' the company said in a BSE filing.

    Shares of IL&FS Transportation Networks were trading lower by 0.78% at Rs 19 per share on the BSE.

    11:18 (IST)22 Nov 2018
    Global Markets UPDATE: Asian shares fragile as growth worries sap confidence

    Asian shares seesawed in cautious trading on Thursday with China extending losses as investors fretted about slowing global growth in the face of rising U.S. interest rates and trade tensions, said a Reuters report. US stock futures also briefly pulled down after a bounce in Wall Street overnight, underscoring fragile investor sentiment following a rout in October and steep sell-offs in recent sessions. MSCI's broadest index of Asia-Pacific shares outside Japan momentarily turned lower after earlier rising about 0.2%. Japan's Nikkei was also off morning highs to be up 0.4%. Chinese shares were in the red after opening higher, with the blue-chip index falling 0.8%. Hong Kong's Hang Seng index slipped 0.1%.

    11:15 (IST)22 Nov 2018
    IT stocks gain, Tech Mahindra up 2%

    The Nifty IT index gained on Thursday with all the stocks under the index trading in the green. Tech Mahindra shares rose over 2% to Rs 710, a day after the  company hosted its annual analyst meeting and at least three brokerages had positive commentary.

    11:08 (IST)22 Nov 2018
    NSE Live! Nifty trims gains

    The NSE Nifty trimmed its earlier gains and traded marginally higher at 10,609.95 points. Among the sectoral indices, only the financial services, FMCG, IT and media indices traded in the green.

    10:59 (IST)22 Nov 2018
    Huhtamaki PPL shares plunges over 7%

    Shares of Huhtamaki PPL plunged over 7% to a low of Rs 192 per share on the BSE today. The packaging machinery manufacturing company on Wednesday received closure directions from Maharashtra Pollution Control Board on Nov. 20 for its Thane Plant. The company has filed a writ petition in Bombay High Court. The aforesaid plant contributed about 10% of the annual turnover of the company for the financial year ending December 2017. To ensure continuity of supplies to customers, the company says it shall divert customer orders to other plants in India.

    10:46 (IST)22 Nov 2018
    DHFL shares surge over 3% after Q2 results

    Shares of Dewan Housing Finance Corporation (DHFL) rose 3.6% to a high of Rs 243.50 per share on the BSE today. Mortgage firm Dewan Housing Finance Corporation (DHFL) Wednesday reported 52% jump in net profit at Rs 439 crore for the quarter ended September 30, helped by healthy growth in loan disbursements. Shares of the company in the recent past have taken a huge beating on concerns of liquidity crisis. Following a series of default by group companies of IL&FS, liquidity tightness was apparent in the market putting pressure on interest rates.

    10:38 (IST)22 Nov 2018
    Yes Bank shares rise 3%

    Yes Bank shares rose nearly 3% to an intra-day high of Rs 203.85 per share on the BSE today, a day after the bank said the recent resignations bear no impact on the new MD & CEO selection process. Former independent director of YES Bank R. Chandrashekar quit the board as he was not happy with the recent developments in the bank, which seemed non-focussed to find a successor of its MD & CEO Rana Kapoor, PTI had reported on Wednesday quoting sources. They added that the former bureaucrat wanted the bank to focus on finding a successor for Kapoor rather than indulging in issues such as shake up in the board composition and the likes. However, the bank, in a response, said the recent resignations bear no impact on the new MD & CEO selection process.

    10:33 (IST)22 Nov 2018
    10 large-cap picks that could give up to 50% returns!

    During the last three months, when the benchmark BSE Sensex corrected nearly 10% from its August record high, some large-cap stocks too slipped from their 52-week highs. In a recent report titled “India Strategy: Q2 FY18 earnings report”, brokerage firm Motilal Oswal has handpicked 10 large cap stocks which have slipped up to 27% from their 52-week highs and could deliver gains of up to 9-47%.

    Read to find out more: RIL, HDFC stocks at huge discount: Motilal Oswal’s top 10 large-cap picks that could give up to 50% returns

    10:30 (IST)22 Nov 2018
    PSU banks slip, State Bank of India down 0.7%

    PSU Banks shares slipped in trade today, even as the headline indices gained. Shares of State Bank of India were trading lower by 0.7%, while Bank of India, Canara Bank and Union Bank of India shares dropped up to 2%.

    10:23 (IST)22 Nov 2018
    Vodafone Idea plunges 3% after announcement of investment plans

    Vodafone Idea shares fell over 3% to a low of Rs 42.90 per share on the BSE today after the company said it plans to invest Rs 27,000 crore in FY20. The country's largest telecom operator Vodafone Idea on Wednesday said it plans to invest Rs 27,000 crore in 2019-20, supported by savings of around Rs 14,000 crore that it expects to come from synergising operations of merged entities, according to a company's document. Vodafone Idea shares currently traded 0.23% higher at Rs 44.50 per share.

    10:18 (IST)22 Nov 2018
    Reliance Industries gains over 1%

    Shares of Reliance Industries gained over 1% to a high of Rs 1,125.10 per share on the BSE. Reliance Jio Infocomm on Wednesday said it will serve the country's largest and most sought-after accounts in telecom - the railways - from January 1, with officials saying it is likely to slash the national transporter's phone bills by around 35% at least. Railways has been using Bharati Airtel for over six years as its telecom provider for 1.95 lakh mobile phone connections used by its employees in closed user group (CUG) across the country for which the railways paid around Rs 100 crore bill per year, they said. Its validity will expire on December 31 this year.

    09:44 (IST)22 Nov 2018
    Crude oil dips on swelling US stocks, but expected OPEC supply cut stems losses

    Oil prices dipped on Thursday after U.S. crude inventories increased to their highest level since December 2017 amid concerns of an emerging global glut, although an expected supply cut by producer cartel OPEC prevented further drops. U.S. West Texas Intermediate (WTI) crude futures, were at $53.38 per barrel at 0141 GMT, 25 cents, or 0.5% below their last settlement. Front-month Brent crude oil futures were at $63.28 per barrel, down 20 cents, or 0.3%, from their last close.

    Read here: Crude oil dips on swelling US stocks, but expected OPEC supply cut stems losses

    09:43 (IST)22 Nov 2018
    Rupee rises 35 paise to 71.11 against US dollar

    Rising for the seventh straight day, the rupee strengthened by 35 paise to 71.11 against the US dollar in early trade Thursday on the back of falling crude oil prices. Traders said dollar's weakness against some currencies overseas and increased selling of the greenback by exporters and banks also supported the rupee, PTI reported. They said fresh foreign fund inflows and a steep fall of nearly 7% in global crude prices to one-year low on Tuesday buoyed rupee sentiments. At the interbank forex market, the rupee opened higher at 71.12 and rose further to quote at 71.11, showing a rise of 35 paise over its previous close of 71.46 against the dollar on Tuesday. The rupee had gained 21 paise to end at 71.46 against the US dollar Tuesday.

    Read more: Rupee opens at fresh 11-week high, gains 35 paise to 71.11 per US dollar

    09:36 (IST)22 Nov 2018
    Asian shares tick up but growth worries keep investors on edge

    Asian shares stepped ahead cautiously on Thursday while oil rebounded from a steep sell-off, though rising U.S. interest rates and escalating trade tensions kept financial markets on edge amid signs of slackening global growth. MSCI’s broadest index of Asia-Pacific shares outside Japan tacked on 0.2% and has so far managed to hold up in November after three straight monthly declines. For the year, it is on track for its worst annual performance since 2011, in part due to anxiety over a weakening outlook for corporate profits and the heated Sino-U.S. trade war. Japan’s Nikkei rose 0.7% while Australian shares advanced 0.6%.

    Read here: Asian shares tick up but growth worries keep investors on edge

    09:32 (IST)22 Nov 2018
    NSE live! Check out the most traded stocks

    The NSE Nifty started on a tepid note and traded higher by 19.50 points or 0.18% at 10,619.55 points around 9.30 am. Vodafone Idea was the most traded stock by volume within the first 15 minutes of trade on the NSE today. Check the other stocks here:

    09:28 (IST)22 Nov 2018
    Viewpoint: Mid cap and small cap buck the trend

    US markets ended higher on Wednesday after a brutal two-day selloff, led by a rebound in energy and technology shares. The market faltered toward the session’s end and gave up most of the gains as Apple shares corrected. European equities finished higher as a resolution to the Italian budget deficit seemed to draw closer. Italian banks led the way as reports fostered optimism that Italy could eventually reach an accommodation with the European Union.

    The U.S. stock market will be closed on Thursday for Thanksgiving and will close early on Friday. It is going to be a stock specific session on our markets for next few days in absence of strong international cues. Bank Nifty is attracting more attention than Nifty and that trend is going to accentuate going forward.

    Crude oil prices have retraced a bit though it is at a far more comfortable level for Indian markets. Lower energy costs and strengthening currency is infusing confidence in investors to pick individual stocks and invest confidently amidst global sell-off. Mid cap and small indices are showing resilience and are finding buyers.

    10,800 remains a hurdle for the Nifty this series, while stop loss for the longs can be brought higher to 10,500 levels now.

    -- HDFC Securities

    09:27 (IST)22 Nov 2018
    US Stocks: S&P 500 gains with energy, tech but ends near day’s low

    The S&P 500 ended higher on Wednesday after a brutal two-day selloff, led by a rebound in energy and technology shares, but the market faltered toward the session’s end as Apple shares surrendered gains ahead of the Thanksgiving holiday. The Dow also gave up its gains to end flat, while the S&P 500 ended near its session lows, a sign of lingering bearishness.

    Read here: S&P 500 gains with energy, tech but ends near day’s low

    09:24 (IST)22 Nov 2018
    OPENING BELL: Sensex, Nifty open with marginal gains; Yes Bank up 2%; Bharti Airtel slips

    Sensex and Nifty opened on a flat-to-positive note on Thursday tracking tepid cues from the global markets. The BSE Sensex opened over 50 points higher, while the NSE Nifty traded above the 10,600-level. Bharti Airtel was the top loser in opening trade. Yes Bank shares rose nearly 2%.

    Share market on Wednesday: Sensex and Nifty closed in the negative territory, extending losses for the second consecutive session, on the back of weak global cues, along with foreign fund outflows and heavy selling pressure in IT, media, auto, metals and FMCG stocks. However, Brent crude’s fall to one-year low in the global market, coupled with value buying in banking, auto, pharma and realty stocks, helped cap losses. Banks and currency markets are shut today on account of Id-e-Milad.
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