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Share market HIGHLIGHTS: Sensex sheds 275 pts, Nifty holds 10,600; TCS, Infosys top losers; Yes Bank up 3%

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Updated:Nov 21, 2018 5:01:41 pm

Share market HIGHLIGHTS today: BSE Sensex closed Wednesday's trade 274.71 points lower at 35,199.80 points, while the NSE Nifty fell 56.15 points or 0.53% to end at 10,600.05 points. TCS and Infosys were the top losers today. Yes Bank shares gained 3%.

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Share market HIGHLIGHTS: Sensex and Nifty closed in the negative territory on Wednesday, 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.

The BSE Sensex — which dropped over 350 points to a low of 35,112.49 points today — closed Wednesday’s trade 274.71 points lower at 35,199.80 points, while the NSE Nifty managed to hold on to the psychologically important 10,600-mark. Heavy selling pressure was observed in most blue-chip stocks like Infosys, TCS, Wipro, Reliance Industries, Tata Steel, IndusInd Bank, and Larsen and Toubro, among others.

World stocks attempted to steady on Wednesday following a bruising Wall Street session that wiped $1 trillion off the value of leading U.S. tech shares, while oil prices staged a modest rebound after slumping to one-year lows, said a Reuters report. The Nasdaq index touched seven-month lows and energy shares too had dropped in line with a 6% oil price slump S&P 500. That fed through to Asia on Wednesday, taking MSCI’s index of ex-Japan Asia-Pacific shares almost half a percent lower, but it clawed back some of those falls to trade flat.

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Share Market highlights: Sensex, Nifty, Indian Rupee vs US Dollar, Latest Stock Market News, NSE, BSE

17:01 (IST)21 Nov 2018
Viewpoint: Kotak Securities

"Nifty has witnessed some correction after having gained significantly in the recent past. From lows of 10000 levels it managed to scale upto 10700-10750 levels. A sharp correction in crude with strengthening rupee have helped our markets outperform global peers. We expect the index to witness some consolidation before resuming its uptrend towards 10900/11000 levels. We expect stiff resistance around the 11000 mark. On the downside immediate support is seen at 10500-10530 levels. Banking and Financial services trade with a positive bias while IT remains under pressure."

-- Kotak Securities

17:00 (IST)21 Nov 2018
Stock Recommendations : Epic Research

L&TFH: Stock outperformed well with good volumes from the support level and closed near today’s high. It is forming a pennant on the daily chart. We recommend buying above the 137 for the target of 140 with the stop loss of 134.

UPL: Stock has given the breakout of resistance on the daily chart on a closing basis with good volumes. The RSI showing good strength on the daily chart. We recommend buying at 780 levels for the target of 790 with the stop loss of 770.

TECHM: Stock has shown weakness in past two trading sessions and closed near today’s low and it also formed flag pattern on the hourly chart. The RSI is also showing weakness on the daily chart. We recommend selling below 688 for the target of 678 with the stop loss of 698.

-- Mustafa Nadeem, CEO, Epic Research.

Disclaimer: Views and recommendations given in this section are the brokerage firms’ own and do not represent those of www.financialexpress.com. Please consult your financial adviser before taking any position in the stock (s) mentioned.

16:57 (IST)21 Nov 2018
RIL, HDFC stocks at huge discount!

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. A recent report has picked 10 of these large-caps which could be attractive bets for investors — delivering returns of up to 50% — and stocks like Reliance Industries, HDFC, Infosys, SBI, ICICI Bank and Maruti Suzuki are a part of the list.

Check out the list here: RIL, HDFC stocks at huge discount: Motilal Oswal’s top 10 large-cap picks that could give up to 50% returns

16:54 (IST)21 Nov 2018
Viewpoint: Geojit Financial Services

"Market traded on a weak note despite a positive opening in European market and further slid in oil prices. Rebound in PSU banks due to extension of full implementation of Basel 3 norms and pharma stocks helped the market to trim some losses in early hours of trade. However, continued selling in IT stocks on account of strong rupee restricted a recovery".

-- Vinod Nair, Head of Research, Geojit Financial Services

15:49 (IST)21 Nov 2018
NSE live! Check top Nifty gainers and losers

The NSE Nifty, which slipped below the psychologically important 10,600-mark during the day's trade, ended Wednesday's trade at 10,600.05 points, down 56.15 points or 0.53%. Here are the top 5 Nifty gainers and losers today:

15:38 (IST)21 Nov 2018
CLOSING BELL: Sensex ends 275 pts down, Nifty holds 10,600; TCS, Infosys slips 3%; Yes Bank up 3%

BSE Sensex closed Wednesday's trade 274.71 points lower at 35,199.80 points, while the NSE Nifty fell 56.15 points or 0.53% to end at 10,600.05 points. Check out the top gainers and losers on the Sensex:

14:44 (IST)21 Nov 2018
Sensex recovers nearly 200 points from day's low

The BSE Sensex recovered nearly 200 points from its day's low at 35,112.49 points on the back of healthy buying in most as banking, auto, pharma, and realty stocks. While Yes Bank, HDFC Bank, Maruti Suzuki, SBI and Axis Bank remained the top contributors to the Sensex, Infosys and RIL emerged as the top drags. Check out the top percentage gainers and losers on the Sensex:

13:07 (IST)21 Nov 2018
3 key reasons behind Dow Jones 550 point fall

In a major sell-off witnessed yesterday, US stocks plunged for a second straight day on Tuesday wiping away the entire gains made by investors in 2018, as the Dow Jones Industrial Average fell 551.8 points, or 2.21 percent to 24,465.64. The S&P 500 lost 48.84 points, or 1.82 percent, to 2,641.89 and the Nasdaq Composite dropped 119.65 points, or 1.7 percent, to 6,908.82 even as energy stocks plummeted with oil prices slumping to one-year lows. What is behind such a major sell-off? Find out here: US stock markets erase entire 2018 gain: 3 key reasons behind Dow Jones 550 point fall

12:45 (IST)21 Nov 2018
BSE live! Sensex trims some losses; banking stocks top gainers

The BSE Sensex trimmed some losses and traded nearly 275 points or 0.77% lower at 35,199.99 points during the early afternoon trade session today on good buying in banking stocks. Yes Bank, SBI, Axis Bank and Kotak Bank were among the top Sensex gainers. 19 stocks out of 30 Sensex stocks traded in the red.

12:25 (IST)21 Nov 2018
Nifty Bank index at day's high!

The Nifty Bank index surged over 100 points to a day's high of 26,222.05 points on Wednesday, despite the headline indices trading with substantial losses. Yes Bank was the top gainer on the Bank index, gaining over 3%, while IndusInd Bank, ICICI Bank, RBL Bank and HDFC Bank traded in the red.

12:21 (IST)21 Nov 2018
Global Markets UPDATE: Asia stocks slip as growth worries grip global markets

Asian stocks slipped on Wednesday as intensifying concerns about global economic growth gripped financial markets, sending Wall Street shares tumbling and driving the safe haven dollar up from a two-week low, said a Reuters report. Spreadbetters expected European stocks to open slightly higher on bargain hunting after several days of losses, with Britain's FTSE edging up 0.15%, Germany's DAX gaining 0.3% and France's CAC rising 0.25%. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.45%. The Shanghai Composite Index swerved in and out of the red and was last down 0.05%. Australian stocks lost 0.5%, South Korea's KOSPI retreated 0.4% and Japan's Nikkei fell 0.35%.

11:23 (IST)21 Nov 2018
Pharma index gains over 1%

The Nifty pharma index over 1% today despite subdued sentiment in the stock markets. Barring Piramal Enterprises and Lupin, all the stocks under the pharma index traded with gains. Dr Reddy's Lab gained over 8% in early morning trade.

 

11:17 (IST)21 Nov 2018
COMMODITIES update: Gold inches down as safe haven demand lifts dollar

Gold prices eased slightly on Wednesday as the U.S. dollar was boosted by safe-haven demand as investors eyed U.S.-China tensions amid heightened risk aversion, reported Reuters. Spot gold dipped 0.1% to $1,220.36 per ounce at 0435 GMT. U.S. gold futures were flat at $1,220.7 per ounce. The dollar firmed against its major peers on Wednesday, as investors shunned riskier assets in favour of safe haven currencies on heightened concerns about slowing global growth and the U.S.-Sino trade war, the report said. The dollar index was steady after it gained about 0.7% in the previous session, pulling away from a two-week trough of 96.042. Asian stocks fell, weighed down by a renewed bout of selling on Wall Street.

11:15 (IST)21 Nov 2018
Nifty IT index falls most in over 1 month

The Nifty IT index slipped over 3% today, marking its biggest daily percentage loss since October 19. The index is on track for the second consecutive day of fall, after the rupee hit its highest level since September on Tuesday. Banks and currency markets are shut today on account of Id-e-Milad. Fall in technology stocks globally and rupee appreciation in past couple of days are the reasons for negative sentiment in the Indian IT stocks, Reuters reporting quoting Siddhartha Khemka, head of retail research at Motilal Oswal Securities.

In the US, internet and other technology shares dropped on Tuesday with Apple down 4.8% to its lowest level since early May. In the Indian market, Infosys Ltd shares dropped 4.6% to Rs 612.10, their lowest in 5 months. Tata Consultancy Services' stock fell nearly 4% to Rs 1,805.15 in its biggest intraday loss since October 11. TCS and Infosys were among the top percentage losers on the Nifty.

11:05 (IST)21 Nov 2018
Oil bounces by $1 per barrel after 6% plunge

Oil bounced by around $1 a barrel on Wednesday to claw back some of the previous day's 6% plunge, lifted by a report of an unexpected decline in U.S. commercial crude inventories and record Indian crude imports, said a Reuters report. But investors remained on edge, with the International Energy Agency (IEA) warning of unprecedented uncertainty in oil markets due to a difficult economic environment and political risk. International Brent crude oil futures were at $63.60 per barrel at 0516 GMT, up $1.07 per barrel, or 1.7% from their last close. U.S. West Texas Intermediate (WTI) crude futures, were up $1.03 cents, or 1.9%t, at $54.46 a barrel.

11:00 (IST)21 Nov 2018
PSU banks stocks 'buck the trend'

Despite a gloomy mood in the stock markets, the PSU bank index traded in the green, with all the PSU banks stocks trading with gains. Check out the stocks here:

10:54 (IST)21 Nov 2018
NSE live! Check out the top 5 Nifty gainers and losers

The NSE Nifty traded below the psychologically important 10,600-mark today on the back of heavy selling pressure in IT, metals, media and FMCG stocks. Check out the top 5 Nifty gainers and losers today:

10:50 (IST)21 Nov 2018
These mid-cap stocks could double your money!

After the recent correction in October, the benchmark Sensex is down nearly 9% from its August record high. The mid-cap index has, however, underperformed the headline index and is down 18% since its January record high level. Even as the mid-cap index continues to deliver negative returns year-to-date, a recent report has picked 10 mid-cap stocks which, despite a steep correction of up to 40% from their 52-week highs, can nearly double your money — delivering returns of up to 92%. After the end of the second quarter earnings season, brokerage firm Motilal Oswal has seen a potential upside ranging from 8-92% in 10 mid-cap stocks which have already corrected within a range of 11-40% from their 52-week highs.

Which are these 10 stocks? Find out here: Motilal Oswal picks 10 stocks trading at huge discount

10:49 (IST)21 Nov 2018
Aviation stocks rise as crude oil prices ease

Aviation stocks surged in trade on Wednesday morning even as global crude oil prices fell to one-year low yesterday. Spicejet share price gained more than 7.2% to hit the day’s high at Rs 83.90. Jet Airways shares price zoomed more than 4.7% to intra-day high of Rs 325. Interglobe Aviation, which runs the IndiGo airline, rallied by 4.4% to hit the day’s high at Rs 1,079.

Read the full story here: Spicejet, Jet Airways, IndiGo share price zoom up to 7% on falling crude price

10:36 (IST)21 Nov 2018
Global Market UPDATE: Geojit Financial Services

"Asian markets are trading lower following a plunge on Wall Street overnight. European markets closed sharply lower extending the latest wave of global selling. Tech, Banks, Basic Resources and Chemicals were the worst performers. The European Union is expected to hold a summit to discuss Britain's draft withdrawal agreement on Sunday. U.S. markets closed lower with the Dow Jones falling more than 500 points as it erased its gains for 2018. Tech stocks fell sharply while steep losses in crude pushed down the energy sector."

10:33 (IST)21 Nov 2018
China stocks weaken amid global slump

Shares in China edged lower in choppy trading on Wednesday as a continued selloff on Wall Street and a plunge in oil prices stirred uncertainty over the global economy, said a Reuters report. At the midday break, the Shanghai Composite index was down 0.13% at 2,642.46 points. The index plunged more than 2% on Tuesday. China's blue-chip CSI300 index, however, eked out a 0.09% gain by midday after Tuesday's 2.3% slump. Its financial sector sub-index is higher by 0.11%, the real estate index is up 1.48% and the healthcare sub-index is up 1.46%. 

10:22 (IST)21 Nov 2018
RIL drops nearly 2%

Shares of RIL dropped nearly 2% to a low of Rs 1,117.20 per share on the BSE. Earlier on Tuesday, Reliance Jio Infocomm said it has launched VoLTE based inbound international roaming between India and Japan. With this launch, Jio has become India’s first 4G mobile operator to provide VoLTE based international roaming services in India, the company said in a statement.

10:00 (IST)21 Nov 2018
BSE live! Sensex drops over 200 points

The BSE Sensex dropped over 200 points to trade at 35,263.87 points around 10 am. Heavy selling pressure was observed in most blue-chips like Infosys, TCS, Wipro, Reliance, Tata Steel, IndusInd Bank, and Larsen and Toubro, among others. Yes Bank shares were trading with gains of nearly 3%.

09:57 (IST)21 Nov 2018
Dollar firms on global slowdown fears, trade tensions

The dollar traded firm against major peers on Wednesday, extending overnight gains as investors shunned riskier assets in favour of safe haven currencies on escalating worries about slowing global growth and the U.S.-Sino trade war, said a Reuters report. With sentiment souring and a global equities rout on Tuesday, risk averse traders sought shelter in the liquid dollar, which climbed from a two-week low hit earlier on Tuesday. The greenback had been under pressure for most of this week as cautious comments by Federal Reserve officials and surprisingly weak U.S. economic data suggested the central bank could slow the pace of monetary policy tightening. The dollar index, measuring performance against six major peers, was steady at 96.82 on Wednesday. The index gained 0.65% in the previous trading session.

09:51 (IST)21 Nov 2018
Dr. Reddy's Lab rises most in one year after US court allows generic drug sale

Dr. Reddy's Laboratories Ltd shares surged 8.7% to Rs 2,655 per share, their highest since September 26, after a US appeals court on Tuesday allowed the generic drugmaker to sell a copycat version of its rival Indivior Plc's opioid treatment Suboxone Film. The Court lifted a preliminary injunction filed by UK-based Indivior that blocked Dr. Reddy's from selling the generic drug. The stock posts its biggest intraday percentage gain since November 2017.

09:42 (IST)21 Nov 2018
Yes Bank shares rise 3%

Yes Bank shares rose 3% to a high of Rs 198.65 per share on the BSE today after the company reported that MD and CEO Rana Kapoor is in talks with co-promoter Madhu Kapur for mutual resolution. It is being reported by the MD&CEO, Shri Rana Kapoor who is also the largest shareholder and promoter of the Bank, that efforts are underway for mutual resolution with Ms. Madhu Kapur & family, the Co-promoter of the Bank," the bank said in a statement on late Tuesday evening. "This is intended to ensure better support and coordination by the 2 promoter groups with the Board of Directors of the Bank," it added.

Read the full story here: Yes Bank share price jumps 3% on efforts for mutual resolution of CEO Rana Kapoor with Madhu Kapur and family

09:35 (IST)21 Nov 2018
IT stocks drag headline indices; Wipro down over 3%

Heavy selling pressure was observed in the IT sector during early morning trade today. Wipro, Infibeam Avenues, Tech Mahindra, HCL Tech and NIIT Technologies lost up to 3% in trade.

09:31 (IST)21 Nov 2018
NSE live! Check out the most traded stocks

The NSE Nifty reclaimed the 10,650-mark after initial losses and traded 1.95 points or 0.02% higher at 10,658.15 points. Take a look at the most traded stocks on the NSE during the first 15 minutes of trade today.

 

09:28 (IST)21 Nov 2018
Oil recovers some losses after 6% plunge, but market on edge

Oil prices on Wednesday clawed back some of the previous day’s more than 6% plunge, lifted by a report of an unexpected decline in U.S. commercial crude inventories as well as record Indian crude imports. But investors remained on edge, with the International Energy Agency (IEA) warning of unprecedented uncertainty in oil markets due to a difficult economic environment and political risk. International Brent crude oil futures were at $63.19 per barrel at 0239 GMT, up 66 cents, or 1.1% from their last close. U.S. West Texas Intermediate (WTI) crude futures, were up 66 cents, or 1.2% at $54.09 a barrel.

Read the full story here: Oil recovers some losses after 6% plunge, but market on edge

09:23 (IST)21 Nov 2018
OPENING BELL: Sensex opens over 100 points lower, Nifty below 10,650

The BSE Sensex opened over 100 points lower today tracking weak global cues. Most IT stocks like Infosys, TCS and Wipro traded with losses of up to 3%. The NSE Nifty opened below the 10,650-mark.

09:21 (IST)21 Nov 2018
Stocks in news: Bank of Baroda, HDFC Bank, Reliance Industries, DHFL, Dr Reddy’s Labs, Yes Bank, NTPC

We take a look at the major stocks that are likely to make news today.

Bank of Baroda said it has agreed to sell 4% stake in Clearing Corporation of India (CCIL) to HDFC Bank for an aggregate sum of Rs 124 crore. Reliance Jio Infocomm has launched VoLTE based inbound international roaming between India and Japan, with which it has become India’s first 4G mobile operator to provide VoLTE based international roaming services in India, the company said in a statement. Yes Bank MD and CEO Rana Kapoor is in talks with co-promoter Madhu Kapur for mutual resolution, the bank said in a statement late on Tuesday.

Read the full story here -- Stocks in news: Bank of Baroda, HDFC Bank, Reliance Industries, DHFL, Dr Reddy’s Labs, Yes Bank, NTPC

09:14 (IST)21 Nov 2018
Asian stocks fall, oil stymied as growth worries grip global markets

Asian stocks slid on Wednesday as intensifying concerns about global economic growth gripped financial markets, sending Wall Street shares and crude oil prices tumbling and driving the safe haven dollar up from a two-week low. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.6%. The Shanghai Composite Index swerved in and out of the red and was last down 0.2%. Australian stocks lost 0.6%, South Korea’s KOSPI retreated 0.85% and Japan’s Nikkei fell 0.7%.

Also read: Asia stocks fall, oil stymied as growth worries grip global markets

09:12 (IST)21 Nov 2018
PRE-OPEN SESSION: Sensex, Nifty opens marginally in green

The BSE Sensex and Nifty 50 indices traded on a flat-to-positive note during the pre-open session on Wednesday. Banks and currency markets are shut today on account of Id-e-Milad.

Share market on Tuesday: Sensex and Nifty ended lower as weak global cues, RBI decisions weigh. The 30-share Sensex cracked over 300 points to end the day’s trade at 35,474.51, while the Nifty 50 tested the 10,650-mark. PSU banks, metals and IT stocks emerged as the major losers in the headline indices. IndusInd Bank shares gained about 1.8% to Rs 1,567.25 on BSE.
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