Share market highlights: Sensex ends 340 pts lower, Nifty near 10,000; Yes Bank, Axis Bank shares plunge

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Updated:Oct 26, 2018 4:27:19 pm

Share market highlights: In a volatile session witnessed on Friday, the 30-share Sensex closed 340 points lower led by viscious sell-off in heavyweights such as Yes Bank, Axis Bank and ITC, among others.

Shares of Tata Motors (up 2.09%), Reliance Industries (1.41%), Tata Steel (0.83%) , HDFC (0.69%) were among the few Sensex shares closing in the green.

Share market highlights: In a volatile session witnessed on Friday, the 30-share Sensex closed 340 points lower led by viscious sell-off in heavyweights such as Yes Bank, Axis Bank and ITC, among others. The Sensex closed the day at 33,349.31. The broader Nifty 50 held on to the 10,000-mark, after opening the day above the psychological 10,100 mark. Yes Bank shares tanked up to 15% intra-day, and ended the day at Rs 181.20, down 8.4% from previous close. Shares of Axis Bank, IndusInd Bank, Kotak Mahindra Bank shed up to 4.5% on close.

Shares of Tata Motors (up 2.09%), Reliance Industries (1.41%), Tata Steel (0.83%) , HDFC (0.69%) were among the few Sensex shares closing in the green. Shares of Equitas Holdings plunged by more than 28% to hit the day’s low of Rs 92.35, after RBI’s letter to the entities on listing of small finance banks. ICICI Bank shares closed 1.77% down at Rs 314.30 ahead of Q2 results scheduled to be announced later in the day.

The Sensex fell to a fresh seven month low of 33,349.31 as the November derivatives series began on a subdued note amid weakness in the rupee and negative leads from global markets. Notably, both key indices Sensex and Nifty recorded their second straight week of losses by falling 966.32 points, or about 3 per cent, and 273.55 points, or 2.7 per cent, respectively. Continuous fall in the rupee, which depreciated to 73.45 (intra-day) against the dollar, and prevailing liquidity crunch remain key dampening factors, brokers told PTI. Most Asian markets skidded to multi-month lows and European shares opened sharply lower on worries over corporate earnings and global growth. We bring to you key highlights from today’s trade.

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Highlights

    16:16 (IST)26 Oct 2018
    Rupee concerns, global market weigh on Sensex, closes at fresh 7-month low

    The 30-share Sensex tumbled almost 341 points to end at a fresh seven-month low of 33,349.31 as the November derivatives series began on a subdued note amid weakness in the rupee and negative leads from global markets, PTI reported. Continuous fall in the rupee, which depreciated to 73.45 (intra-day) against the dollar, and prevailing liquidity crunch remain key dampening factors, brokers told PTI.

    16:01 (IST)26 Oct 2018
    ICICI Bank shares close 1.77% lower ahead of Q2 results

    ICICI Bank shares closed 1.77% down at Rs 314.30 ahead of Q2 results scheduled to be announced later in the day. Brokerages expect the private lender to report tepid results. Prabhudas Lilladher expects a 78% on-year drop in net profit at Rs 453.20 crore. "NII growth should hold up as loan growth improves slightly. Domestic loan growth should be strong continued to be led by retail. Margins should be largely steady but other income is likely to be muted," Prabhudas Lilladher noted in a report.

    15:31 (IST)26 Oct 2018
    BSE Live: Sensex closes 340 points down, Nifty just above 10,000

    15:25 (IST)26 Oct 2018
    IOB shares spike 11% after Q2 results

    IOB shares zoomed 11% after the firm reported better than expected Q2 results. IOB share price zoomed to Rs 14.50 on BSE this afternoon. The bank has reported net loss at Rs 487.3 crore, as compred to Rs 1,222.5 crore in the comparable period last fiscal.

    15:14 (IST)26 Oct 2018
    Nifty live: Top 5 gainers and losers Chart

    15:06 (IST)26 Oct 2018
    Dr Reddy's Lab Q2 results above estimates: Pharma firm reports 77.4% on-year rise in net profit to Rs 503.8 core

    Pharma firm Dr Reddy's Lab has reported robust results for thae latest quarter, with the firm's Q2 results rising 77.4% on-year to Rs 503 crore. The sales jumped 7.1% to Rs 3,797 crore. Dr Reddy's Lab shares spiked 2.5% to intra-day high of Rs 2,450 on NSE this afternoon. 

    14:33 (IST)26 Oct 2018
    BSE live:All major indices in red

    14:19 (IST)26 Oct 2018
    ITC Q2 net profit up 11.9% on year to Rs 2,955 crore

    FMCG major ITC has reported has reported a 11.9% rise in Q2 net profit to Rs 2,955 crore as compared to Rs 2,640 crore in the previous year. ITC's  revenue came in at Rs 11,270 crore as compred to  Rs 9,763 crore in the comparable period previous year, up 15.4% when compared on a YoY basis. Hotels revenue is up 20.8% at Rs 362.5 crore Vs Rs 300.2 crore in comparable period previous fiscal. ITC shares tanked 3% to hit intr-day low of Rs 276, post Q2 results.

    13:19 (IST)26 Oct 2018
    Yes Bank shares recover after 15% plunge

    Yes Bank shares dived 15% to a four-week low of Rs 168.60 per share on the BSE. However, the share price recovered nearly 11% from its day’s low later on. Yes Bank’s weaker-than-expected performance came at a time when the bank continues its search for a successor to CEO Rana Kapoor.

    Also read: Yes Bank share price recovers after 15% plunge on Q2 earnings; right time to buy the stock?

    13:05 (IST)26 Oct 2018
    ITC shares under pressure ahead of Q2 results

    Shares of India's FMCG major ITC were trading under pressure ahead of the firm's Q2 results scheduled to be announced later today. ITC shares lost more than 2% to hit intra-day low of Rs 281.60. ICICI Securities expects ITC to report 9.1 % on-year rise in  sales, ably supported by strong growth from cigarettes, FMCG and paper segments. Prabhudas Lilladher also sees 9.1% growth while Motilal Oswal expects 8 percent sales growth.

    12:51 (IST)26 Oct 2018
    Ujjivan, Equitas plunge further, down up to 34% intra-day

    Shares of NBFCs Ujjivan Financial Services and Equitas Holdings plunged by up to 30% on Friday afternoon, after RBI’s letter to the entities on listing of small finance banks. The central bank has directed that the promoters of small finance banks must list their banking units separately within three years of operation. This is in accordance with the central bank’s licensing requirements for small finance banks. Shares of Equitas Holdings plunged by more than 34% to hit the day's low of Rs 85.10,  Ujjivan Financial Services shares plunged by more than 32% to intra-day low of Rs 167.35 on the development. Global firm Macquarie said that listing subsidiary banks may attract a holdco (holding company) discount for Ujjivan and Equitas. "Amazing collapse in values of and Mostly on technical non fundamental factors I have never owned the stocks but coming to interesting levels for long term investors," investment advisor Sandip Sabharwal tweeted.

    12:41 (IST)26 Oct 2018
    Expert take: Stock market correction before elections is a golden opportunity to buy Indian equities, says Ashish Kapur, CEO, Invest Shoppe India

    "The recent sell off in equities has pulled the stock markets down to reasonable valuations after a rather long time. Since February of 2016 when the markets went for a big correction before the Union Budget, savvy investors have been waiting for this opportunity. As usual this much-awaited correction is being accompanied by negativity and panic from various voices. While caution is always advisable on equity investments, there is no reason for investors to be pessimistic about the future of equity markets," Ashish Kapur, CEO, Invest Shoppe India writes in a post carried by Financial Express.com.

    Also read: Stock market correction before elections: A golden opportunity to buy Indian equities

    12:24 (IST)26 Oct 2018
    Gold price hits 6-year high on global equity selloff, festive buzz

    Gold prices hit a 6-year high of Rs 32,625 per 10 gram on Thursday amid global selloff in equities and increased demand among local jewellers in the ongoing festive season and weakening rupee. However, silver prices plunged to Rs 39,600 per kg, a fall of Rs 130, due to weak demand from industrial units. In Delhi, the gold of 99.99 and 99.5 percent purity surged by Rs 125 each to Rs 32,625 and Rs 32,475 per 10 gram, respectively. Since November 29, 2012, this is the highest level for the yellow metal, when it had ended at Rs 32,940 per ten gram.

    Also read: Gold demand shines! Yellow metal hits 6-year high on global equity selloff, festive buzz

    11:53 (IST)26 Oct 2018
    Dish TV shares rally 6.6% after firm writes to SEBI to investigate unusual stock trading pattern

    Shares of Subhash Chandra-backed firm Dish TV rallied more than 6.6% in the morning trade after the firm wrote to SEBI to probe the unusual trading pattern and the share price-hammering of its stock which happened immediately following Q2 resutls. Dish Tv shares zoomed to intra-day high of Rs 39.40 on NSE this afternoon. The shares had hit a 8-year low yesterday, after the company reported below par Q2 results. Shares of Dish TV fell about 20% on BSE to hit an eight-year low of Rs 36.05 apiece after the company reported that average revenue per user (ARPU) declined 3.2% to Rs 207 in September quarter (Q2FY19) from Rs 214 in June quarter (Q1FY19). During the day, the stock traded at its lowest level since May 25, 2010.

    11:36 (IST)26 Oct 2018
    Expert take on direction of stock market: Raamdeo Agrawal says 2 'jokers in the pack' will decide fate of Indian stock market

    Even as we continue to witness severe volatility in the stock market due to a cocktail of domestic and global factors, Raamdeo Agrawal of Motilal Oswal says that the fate of Indian share market in the near future will depend on two ‘jokers in the pack’. The course of Indian stock market in the near future will be decided by crude oil prices and foreign investors’ behaviour.

    Also read: Fate of Indian share market revival may depend on two jokers in the pack: Raamdeo Agrawal

    11:29 (IST)26 Oct 2018
    Tata Motors shares recover from 52-week low, rise 3.6%

    Shares of India's major auto maker Tata Motors rallied by as much as 3.6% to hit intra-day high of Rs 171.9 on NSE this morning. Yesterday, the shares had plunged to a 52-week low of Rs 164.60. The shares have been under pressure,  after reports of a steep decline in global sales of its luxury Jaguar Land Rover cars earlier this month.

    11:16 (IST)26 Oct 2018
    Dominos' exclusive India franchise Jubilant FoodWorks shares extend fall, plunge 9%

    Shares of  Jubilant FoodWorks, exclusive India franchise for Domino’s Pizza extended their plunge on Friday morning. The shares shed more than 105 to hit intra-day low of Rs 977. Yesterday the shares hit a seven-month low of Rs 1,070 per share, down 10% on the BSE in intra-day trade on Thursday, after a weak management commentary post the September quarter results. The firm has reported a 60% rise in Q2 net profit to Rs 77.7 crore. The company had posted a profit of Rs 48.47 crore in the year-ago period.

     

    11:04 (IST)26 Oct 2018
    RIL shares rally 1.8%, emerges among volume toppers

    Shares of billionaire Mukesh Ambani led Reliance Industries gained by more than 1.8% on Friday afternoon, and emerged as one of the most active securites on NSE. 40 lakh shares of RIL exchaged hands in the afternoon, as per NSE data. RIL shares rallied more than 1.8% to hit intra-day high of Rs 1,049. The shares the highest volumes, after private sector lender Yes Bank.

    10:54 (IST)26 Oct 2018
    BSE Live: Sensex off day's low, regains 332 points from day's low

    The Sensex is now off day's lows, regaining more than 330 points from day's lows of 33,332.10. The recovery in the index has been led by shares of Tata Motors, Tata Steel, Bhati Airtel and Reliance Industries gaining up to 3% in the late-morning trade. Sensex heat map. 

    10:46 (IST)26 Oct 2018
    Equitas, Ujjivan Financial Services shares plunge up to 28% after RBI’s directive to list small finance bank separately

    Shares of Equitas Holdings plunged by more than 28% to hit the day's low of Rs 92.35, after RBI’s letter to the entities on listing of small finance banks. Ujjivan Financial Services shares plunged by more than 20.5% to intra-day low of Rs 177.35 on the development. The central bank has directed that the promoters of small finance banks must list their banking units separately within three years of operation. This is in accordance with the central bank’s licensing requirements for small finance banks.

    Read full story: Equitas, Ujjivan Financial shares plunge up to 28% after RBI’s directive on small finance banks listing

    10:34 (IST)26 Oct 2018
    ICICI Bank shares range-bound ahead of Q2 results

    ICICI Bank shares remained range-bound ahead of the private sector lender declaring it's Q2 results laster in the day. ICICI Bank share price opened slightly lower at 314.25, as compared to yesterday's close of 319,25. The shares hit an intra-day high of Rs 320 in the morning trade. In the latest quarter, brokerage firm Motilal Oswal expects ICICI Bank to report a 75% on-year drop in net profit to Rs 497 crore.

    10:27 (IST)26 Oct 2018
    Rishad Premji on IT pack Q2 results

    In an interview to ET Now, Wipro's Rishad Premji said that 'Results of IT companies this quarter indicates that technology demand is buoyant.' Notably, TCS, Infosys, Wipro as well as HCL Tech has reported Q2 results so far. India’s largest IT firm TCS has reported quarterly results in line with estimates, as net profit came in 22.6% higher on year to Rs 7,901 crore, in the Jul-Sep quarter. Infosys net profit during the period was up 13% sequentially at Rs 4,110 crore, while consolidated revenue grew 7.7% quarter-on-quarter to Rs 20,609 crore, with digital business accounting for 31% of the total revenues. Wipro has  reported results below estimates as the net profit of the firm dropped 14% to Rs 1,889 crore in the latest quarter. 

    10:18 (IST)26 Oct 2018
    Bharti Airtel shares recover, spike 6% from day's lows

    Shares of billionaire Sunil Bharti Mittal-led Bharti Airtel showed a sudden recovery in the morning trade. Bharti Airtel shares spiked 6% from the day's low to hit intra-day high of Rs 306. The telecom major has reported Rs 118.8 crore consolidated net profit in the quarter ended September, in a major surprise for the market, which was expecting a net loss to the tune of Rs 110-990 crore. However, as compared with the same period last year, the profit has fallen 65.36% on-year from Rs 343 crore.

    10:12 (IST)26 Oct 2018
    NSE Live: Top 10 Nifty losers: Yes Bank, JSW Steel plunge after Q2 results

    Yes Bank and JSW Steel emerged among the biggest losers in Nifty this morning. Yes Bank shares plunged 15% to Rs 168.60, while JSW Steel lost about 5% in the morning trade.  JSW Steel has reported a 150% on-year rise in profit to Rs 2,087 crore for September quarter, slightly better than Rs 2,057 crore anticipated by analysts in an ET Now poll.

    09:59 (IST)26 Oct 2018
    Share market live: Sensex down 300 points, Nifty near 10,000

    After opening flat this morning, Sensex plunged by about 300 points led by heavy sell-offs in the shares of IT and financial stocks. Yes Bank shares plunged up to 15% to hit intra-day low of Rs 168.70. RIL, Tata Motors, Tata Steel were among the only shares trading in green this morning. At day's low Nifty was seen at 10,004. 

    09:51 (IST)26 Oct 2018
    Rupee falls 17 paise to 73.44 against US dollar in early trade

    The domestic currency rupee weakened by 17 paise to 73.44 against the US dollar in early trade on Friday, amid increased demand of the American currencies from importers and sustained foreign fund outflows. Traders said the US dollar's strength against some currencies overseas and a lower opening in the domestic equity markets also weighed on the local unit, PTI reported. 

    09:44 (IST)26 Oct 2018
    BSE live: All indeices trading in red

    09:31 (IST)26 Oct 2018
    Yes Bank shares plunged 15% after weak Q2 results

    Shares of private sector lender Yes Bank plunged by 15% to hit intra-day low Rs 168.6, after the firm reported weak Q2 results yesterday. The shares emerged as the biggest loser in the 30-share index. Yes Bank has reported a near 4% drop in Q2 net profit to Rs 964.70 crore for September quarter due to one-time hit on mark-to-market provisioning (MTM), predominantly on corporate bonds. Analysts in an ET NOW poll had estimated the profit figure at Rs 1,245 crore.

    09:18 (IST)26 Oct 2018
    Sensex heat map: Sensex down 180 points after opening flat; Nifty below 10,100

    09:14 (IST)26 Oct 2018
    Sensex pre-open heat map

    Share market on Thursday: The BSE Sensex closed Thursday’s trade lower by 343.87 points or 1.01% at 33,690.09 points. Index heavyweights HDFC, Reliance Industries, HDFC Bank, Bharti Airtel, SBI, ICICI Bank, LT, Sun Pharma and Vedanta wiped off nearly 300 points from the headline index. The BSE market breadth was bearish, with 1,569 declines and 937 advances. The BSE mid-cap index closed 0.58% and the small-cap index ended 0.98% lower. Bharti Airel was the top index loser, closing nearly 7% lower.
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