Share market HIGHLIGHTS: Sensex closes 181 points lower, Nifty ends below 10,250; Reliance top index drag

By: | Updated:Oct 22, 2018 5:30 pm

Share market HIGHLIGHTS today: Sensex and Nifty closed Monday's trade in the negative territory, dragged lower by profit booking in index heavyweights. Reliance Industries was the top index drag.

share market live today, stock market live today, BSE live, NSE live, sensex and niftyShare market live today: Check for latest Sensex, Nifty updates

Share market HiGHLIGHTS: Sensex and Nifty — the benchmark indices of the Indian stock markets — slipped into the negative territory during the last hour of trade, extending losses for the second consecutive session on Monday. Profit booking by investors, along with a weak rupee on the back of rising crude oil prices, and consistent outflow of foreign funds, pulled the stock markets lower despite favorable global markets.

The BSE Sensex, which surged over 400 points in early morning trade, shed over 614 points from the day’s high to close Monday’s trade at 34,134.38 points, down 181.25 points or 0.53% from its previous close. Reliance Industries was the top contributor to the Sensex’s fall, wiping off 127 points from the index. RIL share price was followed by IndusInd Bank (-67.97 points), Kotak Bank (-39.14 points), Infosys (-16.64 points), Asian Paints (-16.56 points) and Infosys (-16.08 points).

The NSE Nifty closed Monday’s trade at 10,245.25 points, down 58.30 points or 0.57%. Except for the auto and financial services indices, all other Nifty sectoral indices ended in the negative territory. Asian Paints fell 3% ahead of Q2 results announcement. The market breadth remained bearish on the National Stock Exchange as 16 Nifty companies advanced as compared to 33 declines.

Earlier during the day, the headline indices traded with gains led by healthy buying in most banking and auto stocks. Reliance Industries share price fell over 4% on the BSE on Monday, extending its Friday’s crash following a weaker than expected Q2 earnings announcement. On the other hand, HDFC Bank shares jumped 2.8% to scale an intra-day high of Rs 2,020.45 on the BSE during early morning trade deals after the company last week posted Q2 results which beat analysts estimates.

In the global markets, Asian share markets swung into the black on Monday as the promise of more stimulus boosted Chinese stocks for a second session and helped offset geopolitical concerns over Saudi Arabia, Italy and Brexit, said a Reuters report. Brent crude, the international benchmark, again went past the $80-mark to quote at $80.14 per barrel on Monday.

Live Blog

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

15:44 (IST) 22 Oct 2018
NSE live: Check out top 5 gainers/losers

The NSE Nifty, which opened above the 10,400-level, closed Monday's trade 58.30 points or 0.57% points lower at 10,245.25 points. Reliance Indutries was the top index drag and wiped off over 30 points from the Nifty index. Check out the top five gainers and losers on the NSE on Monday:

15:34 (IST) 22 Oct 2018
CLOSING BELL: Sensex slips over 180 points, Nifty ends at 10,256

The BSE Sensex closed Monday's trade 181 points lower, while the NSE Nifty closed trade at 10,256.15 points.

15:18 (IST) 22 Oct 2018
BSE Live! Sensex extends losses, falls over 200 points; RIL top drag

The BSE Sensex extended losses and fell over 200 points during late afternoon trade deals on Monday. Around 3.12 pm, the Sensex traded at 34,093.36 points, down 222.27 points or 0.65%. Reliance Industries was the top index drag, down over 3%.

14:43 (IST) 22 Oct 2018
Global market UPDATE: Italy relief, China stimulus hope lifts global stocks

European shares gained on Monday amid relief over Italy's budget, following rallies in Asia after China promised to provide stimulus to stabilise its economy and offset the impact of U.S. tariffs, said a Reuters report. Promises of tax cuts and coordinated official statements of support for stock markets in the world's second-largest economy saw Chinese shares stage their biggest one-day surge in three years. Markets elsewhere in Asia also enjoyed healthy gains.

14:30 (IST) 22 Oct 2018
RBI likely to stay on hold for rest of FY'19 : Report

The Reserve Bank of India is expected to keep key policy rates unchanged in the remaining 2018-19 fiscal as inflation may stay 'benign' in the range of 3 to 4.4%, says a report. According to the report by Kotak Economic Research, the focus of the Monetary Policy Committee (MPC) remains purely on inflation print, which is expected to remain benign ( 3-4.4%) in the second half of 2018-19. "We thus see limited scope for rate hikes in the rest of 2018-19," PTI reported citing the report.

14:29 (IST) 22 Oct 2018
Q2 update: GSK Pharma Q2 profit down 23%

GlaxoSmithKline (GSK)Pharmaceuticals Monday reported 22.67% fall in standalone net profit to Rs 100.77 crore for the quarter ended September 30, 2018. The company had posted a net profit of Rs 130.32 crore in the year-ago period, GSK Pharma said in a BSE filing. Total income of the company stood at Rs 831.13 crore for the reported quarter. It was Rs 845.89 crore in the second quarter of 2017-18.

Shares of GSK Pharma were trading at Rs 1,379.30 per scrip on BSE, down 3.11% from the previous close.

14:19 (IST) 22 Oct 2018
Q2 update: Kansai Nerolac Q2 profit down 15%

Key highlights of the Q2 results:PAT fell by 15% to Rs 121.99 crore during the quarter under review.Revenue was up 11.2% at Rs 1,294 croreEBIDTA was down by 11.9 % at Rs 195 croreEBITDA margin was at 15.1%"During the quarter demand was dampened. Factors like GST rate changes in July leading to destocking by dealers, lingering monsoons over many parts of India and a delayed festival season affected demand for both Decorative and Industrial customers," said Mr. H. M. Bharuka, Vice Chairman and Managing Director, Kansai Nerolac Paints Ltd.The stock price fell 5.7% to an intra-day low of Rs 392.55 on the BSE.

14:11 (IST) 22 Oct 2018
Q2 Update: Asian Paints, Maruti, Bharti Airtel among major Nifty companies to declare quarterly results

These are the major Nifty companies that are expected to announce their quarterly earnings this week:

Monday: Asian PaintsTuesday: Bajaj Finance, Bajaj FinServ, HCL TechWednesday: Bajaj Auto, Kotak Bank, WiproThursday: Maruti, Bharti Airtel, Yes BankFriday: ICICI Bank, ITC, Dr. Reddy's Lab

13:15 (IST) 22 Oct 2018
ICICI Bank jumps 4% after Morgan Stanley's report

Shares of ICICI Bank rose over 4% after research house Morgan Stanley on Monday said it prefers bigger names like ICICI Bank and HDFC Bank over private sector lenders like Yes Bank and RBL Bank amid rising interest rates and NBFC turmoil. ICICI Bank shares rose by 4.25% to an intra-day high of Rs 328.30 per share on the BSE. HDFC Bank's shares traded 1.61% higher at Rs 1,997.50 per share during afternoon trade.

Read more here: ICICI Bank share price zooms to 1-month high on Morgan Stanley's bullish outlook

13:11 (IST) 22 Oct 2018
Q2 impact: What brokerages say about HDFC Bank after strong quarterly results

Morgan Stanley said that HDFC Bank’s profit growth (PAT) was broadly in line with estimates. The research firm has raised the target share price on the shares to Rs 2,550. On Monday, shares of India’s major private sector lender HDFC Bank surged 2.7% in the morning trade. The bank's shares traded 1.61% higher at Rs 1,997.50 per share during afternoon trade.

Read here: HDFC Bank share price jumps 2.7% to near 3-week high on record Q2 results, what brokerages say

12:35 (IST) 22 Oct 2018
Brent oil rises back above $80 again!

Brent crude oil prices rose back above $80 a barrel on Monday as markets were expected to tighten once U.S. sanctions against Iran's crude exports are implemented next month, a Reuters report said. Benchmark Brent crude oil futures were at $80.26 a barrel at 0646 GMT, up 48 cents, or 0.6%, above their last close. U.S. West Texas Intermediate (WTI) crude futures were at $69.60 a barrel, up 48 cents, or 0.7%. The U.S. sanctions on the oil sector in Iran, the third-largest producer in the Organization of the Petroleum Exporting Countries (OPEC), are set to start on Nov. 4. The United States under President Donald Trump is trying to reduce Iranian oil exports to zero to force the country to renegotiate an agreement on its nuclear programme.

12:30 (IST) 22 Oct 2018
Global market UPDATE: Australia shares close lower amid fresh political uncertainty

Australian shares ended lower on Monday, as political concerns rattled investors after the governing coalition was set to lose its one-seat majority in parliament following a weekend by-election, said a Reuters report. The S&P/ASX 200 index closed 0.6% lower at 5904.9, adding to small losses on Friday.Most of the sectors ended in the red with the financials index losing 0.8%. The sector has been hit hard this year by revelations of widespread misconduct in a high-profile public inquiry. The country's "Big Four" banks closed between 0.7% and 1% lower, led by Australia and New Zealand Banking Group finishing 1% down.

12:27 (IST) 22 Oct 2018
Sector UPDATE: PSU banks trade higher; BoB, SBI, PNB gain up to 1.6%

The Nifty PSU Banks index traded with gains during Monday's afternoon session, with shares of Bank of Baroda gaining over 1.6%. BoB shares were followed by gains in SBI, PNB, Union Bank. Syndicate Bank, Bank of India and IDBI shares. Central Bank of India shares was down 1.45%.

12:21 (IST) 22 Oct 2018
Q2 update: Hatsun Agro net profit up at Rs 38.26 lakh

Hatsun Agro Product Ltd: The Board of Directors at their meeting held today i.e., October 22nd, 2018 has inter-alia approved the Un-audited Financial Results for the quarter and half year ended 30th September, 2018. Key highlights of the Q2 results:

  • PAT stood at Rs 38.26 lakh during the quarter against Rs 38.21 lakh in the corresponding quarter last year
  • Q2 revenue stood at Rs 1,187 crore vs 1067 crore during the like period of 2017

Share price of Hatsun Agro traded 0.51% lower at Rs 619.15 per share on the BSE.

12:07 (IST) 22 Oct 2018
India’s top hedge fund has stopped hoarding cash and started buying shares again!

Expecting a bounce in the South Asian nation’s equities, India’s top hedge fund has stopped hoarding cash and started buying shares again, said a recent report. The Avendus Capital Alternate Strategies’ Absolute Return Fund is increasing investments after benchmark indexes slumped due to surging oil prices, higher borrowing costs and defaults at a local shadow lender. The intensity of selling for the S&P BSE Sensex Index last week hit levels not seen since the height of the 2008 financial crisis. That’s pushed Avendus to start unwinding its cash position, which reached a record 65 percent of assets in September, it added.

Read the full story here: India’s top hedge fund has stopped hoarding cash and started buying shares again

11:45 (IST) 22 Oct 2018
Rupee: ING lowers year-end forecast; says these 2 factors weigh

ING Bank NV has lowered its year-end rupee forecast just as the currency is staging a rebound. Prakash Sakpal, an economist at ING in Singapore, lists two key factors that will see rupee -- Asia's worst performing currency this year -- resume losses.

Read the full story here: Rupee rebound temporary? ING lowers year-end forecast

11:17 (IST) 22 Oct 2018
Q2 impact: ICICI Lombard rises 1.5% in opening trade

ICICI Lombard General Insurance Company shares opened at a high of Rs 820 per share on the BSE on Monday riding on positive quarterly results posted by the company last week. However, the shares gave up their early morning gains to trade 2.52% lower at Rs 787.80 per share during mid-morning trade deals. ICICI Lombard on Saturday reported a jump of 43.6% in net profit to Rs 293 crore for the second quarter ended September this fiscal. The gross direct premium income (GDPI) of the company increased to Rs 3,530 crore in the September quarter, registering a growth of 11.3% over Rs 3,173 crore in the same period previous fiscal.

11:10 (IST) 22 Oct 2018
Q2 impact: RIL share price extends fall after Friday's drubbing; down over 1% post weaker earnings

Reliance Industries share price fell 1.37% to a low of Rs 1,086.55 per share on the BSE on Monday, extending its Friday's crash following a weaker than expected Q2 earnings announcement. On Wednesday last week, Reliance Industries reported a net profit of Rs 9,516 crore, up 17% on-year, which was lower than street expectations. In the same quarter last year, RIL had reported an 18% on-year rise in net profit to Rs 9,459 crore. Shares of the Mukesh Ambani-led company had plunged as much as 7% in the afternoon trade on Friday. Read full story here: RIL share price today slumps up to 7% after Mukesh Ambani announces weaker than expected Q2 earnings

10:54 (IST) 22 Oct 2018
BSE live: Sensex trades flat with a positive bias; Yes bank top loser

The BSE Sensex, which opened over 400 points higher on Monday, gave up most of its early morning gains as investors booked profits. Around 10.50 am, the Sensex traded at 34,394.78 points, up 79.15 points or 0.23%. The index had earlier surged over 400 points to an intra-day high of 34,748.69 points in early morning trade. Here are the top gainers and losers on the Sensex:

10:45 (IST) 22 Oct 2018
Global markets UPDATE: China share markets leap on support hopes, tax cuts

Share markets in China surged on Monday morning in the wake of coordinated statements of support for plunging equity markets by senior regulators, and as China prepares to overhaul its income tax law for individuals, said a Reuters report. At the midday break, the benchmark Shanghai Composite index was 4.2% higher, on track for its strongest day since March 2016. The blue-chip CSI300 index jumped 4.4%, which would be its strongest day since November 2015. Of the 1,486 constituents of the Shanghai Composite, 1,465 posted gains.

Also read: Asian shares slip amid anxiety on earnings, politics

10:44 (IST) 22 Oct 2018
Sector UPDATE: Nifty media index drags; Dish TV, Den, Hathway down up to 5%

The Nifty media index dropped over 1% on Monday, with shares of Dish TV, Den Networks and Hathway Cables falling up to 5% in mid-morning trade deals. In contrast, PVR shares rose by 0.93%.

10:32 (IST) 22 Oct 2018
Oil rises on looming Iran sanctions, but U.S.-China trade war caps gains

Oil prices rose on Monday as markets were expected to tighten once U.S. sanctions against Iran's crude exports are implemented next month, said a Reuters report. Front-month Brent crude oil futures were at $79.96 a barrel at 0414 GMT, 18 cents above their last close. U.S. West Texas Intermediate (WTI) crude futures were at $69.32 a barrel, 20 cents above their last settlement. The U.S. sanctions on the oil sector in Iran, the third-largest producer in the Organization of the Petroleum Exporting Countries (OPEC), are set to start on Nov. 4.

10:28 (IST) 22 Oct 2018
'Rupee is appreciating against dollar on correction in crude oil prices'

"Indian Rupee opened stronger on Monday thanks to a correction in the US Dollar Index which fell on late Friday as negative house market report dampened investor sentiment. Indian Rupee is appreciating against dollar in spite of a crash in the equity market and on FIIs outflow mainly because crude oil prices are getting corrected. Brent Crude has corrected from $85 to sub $80 which is helping Indian currency to outperform US Dollar. In Future we expect Indian Rupee to bottom out around 73.20-73 and then continue to weaken against US Dollar. 72.60 will prove to be strong support for INR."

-- Bhavik Patel, Senior Technical Analyst, Tradebulls Securities

10:25 (IST) 22 Oct 2018
Precious metals UPDATE: Gold gains on softer dollar, geopolitical concerns

Gold prices edged higher on Monday towards a 2-1/2-month peak hit last week as the dollar eased and worries over rising political tensions slowing global economic growth lent support to the metal, reported Reuters. Spot gold was up 0.2% at $1,228.15 an ounce at 0424 GMT. On Oct. 15, the bullion touched its highest since July 26 at $1,233.26. U.S. gold futures were up 0.2% at $1,231 an ounce.

10:24 (IST) 22 Oct 2018
Sector UPDATE: NBFC stocks gain; Indiabulls Housing Finance up 6%

NBFC stocks traded with gains on Monday, with shares of Indiabulls Housing Finance rising nearly 6% during mid-morning trade deals. On the other hand, ICICI Prudential Life Insurance Company, Bharat Financial Inclusion and Edelweiss Financial Services shares lost up to 3%.

10:18 (IST) 22 Oct 2018
Q2 impact: Persistent System's share dives 16% after Q2 results disappoints

Tech firm Persistent Systems share price dived over 16% to a low of Rs 550.95 per share on the BSE on Monday after the company posted a marginal 7% rise in its consolidated net profit to Rs 88.14 crore for the second quarter ended September 2018. The company had registered a net profit of Rs 82.62 crore in the July-September period of 2017-18. Total income of the company increased to Rs 858.78 crore in the September quarter of 2018-19 as against Rs 794.89 crore in the year-ago period, it said in a regulatory filing.

10:09 (IST) 22 Oct 2018
FOREX update: Euro, sterling try to steady as traders keep wary eye on Italy budget, Brexit

The euro and the British pound managed to hold steady against the dollar on Monday as investors cautiously awaited developments around Brexit as well as Italy's budget plan which drew heavy criticism from the European Union, said a Reuters report. The dollar was also broadly unchanged against its major rivals. Tensions with Saudi Arabia and the West, trade frictions and uncertainly about the global growth outlook kept most currency pairs stuck in tight ranges. An index measuring the greenback's value against its major peers was flat at 95.67, having hit a of high of 96.09 on Friday. Both the euro and sterling remained sensitive to news around Brexit and a controversial Italian budget proposal.

09:43 (IST) 22 Oct 2018
Q2 impact: Asian Paints shares fall 1% ahead of results

Asian Paints shares fell over 1% to a low of Rs 1,223.50 per share on the BSE during early morning trade deals. Asian Paints is among the major Nifty companies that will declare its quarterly results later during the day. Other companies that will declare their Q2 results include Can Fin Homes, Glaxosmithkline Pharmaceuticals, Hatsun Agro Product, Hindustan Oil Exploration, Hindustan Zinc, Inox Leisure, Jubilant Life Sciences, Kansai Nerolac Paints and Welspun India, among others.

09:40 (IST) 22 Oct 2018
Q2 impact: HDFC Bank jumps 2.8% in early trade

HDFC Bank shares jumped 2.8% to scale an intra-day high of Rs  2,020.45 on the BSE during early morning trade deals after the company last week posted Q2 results which beat analysts estimates. HDFC Bank on Saturday reported a rise of 20.6% in its net profit to Rs 5,005.73 crore for the second quarter ended September this fiscal, as the core income grew at a healthy pace. Total income for the quarter grew by 21.2% to Rs 28,215.2 crore, while the net interest income (interest earned minus interest expended) for the quarter grew by 20.6% to Rs 11,763.4 crore.

09:38 (IST) 22 Oct 2018
Rupee gains 8 paise to 73.24 against US dollar in early trade

The rupee strengthened by 8 paise to 73.24 against the dollar in early trade Monday on increased selling of the US currency by exporters and banks amid easing crude prices. Weakness in the dollar against a few currencies overseas and early gains in domestic equities gave some support to the rupee, PTI reported quoting forex dealers. At the Interbank Foreign Exchange, the rupee opened lower at 73.36 and dipped further to 73.38 but soon recovered the lost ground and rose to 73.24 on increased selling of the American currency by exporters and banks.

09:35 (IST) 22 Oct 2018
NSE live: Check out the most traded stocks

Vodafone Idea shares were the most traded stock by volume on the NSE in the first 15 minutes of trade on Monday. Idea shares were followed by DHFL, Yes Bank, Indiabulls Housing Finance, RCom and Adani Power.

09:26 (IST) 22 Oct 2018
Market OPEN: Sensex jumps 350 points, Nifty opens above 10,400; HDFC Bank climbs 2.8%

Share market LIVE today: Sensex and Nifty opened higher on Monday tracking a recovery in the global markets. HDFC Bank shares jumped over 2% in early morning trade.

09:13 (IST) 22 Oct 2018
Market PRE-OPEN session: Sensex opens 300 points higher; Rupee opens at 73.4075/dollar

The stock markets opened higher during the pre-open session on Monday. The rupee opened at 73.4075 against the US dollar vs its Friday's close at 73.3250 per dollar.

09:05 (IST) 22 Oct 2018
Stocks in focus: HDFC Bank, Asian Paints, Can Fin Homes, Lupin

HDFC Bank: HDFC Bank on Saturday reported a rise of 20.6% in its net profit to Rs 5,005.73 crore for the second quarter ended September this fiscal, as the core income grew at a healthy pace. Total income for the quarter grew by 21.2% to Rs 28,215.2 crore, while the net interest income (interest earned minus interest expended) for the quarter grew by 20.6% to Rs 11,763.4 crore.

Asian Paints: Among the major Nifty companies, Asian Paints is expected to declare its quarterly results later during the day. Other companies that will declare their Q2 results include Can Fin Homes, Glaxosmithkline Pharmaceuticals, Hatsun Agro Product, Hindustan Oil Exploration, Hindustan Zinc, Inox Leisure, Jubilant Life Sciences, Kansai Nerolac Paints and Welspun India, among others.

Lupin: Drug maker Lupin said the European Medicines Agency (EMA) has adopted a positive opinion recommending marketing authorisation of its product NaMuscla, used for the symptomatic treatment of non-dystrophic myotonic (NDM) disorders.

ICICI Lombard: ICICI Lombard General Insurance Company reported a jump of 43.6% in net profit to Rs 293 crore for the second quarter ended September this fiscal.

ONGC: State-owned ONGC bought Gujarat State Petroleum Corp's (GSPC) stake in a KG basin gas block for USD 1.2 billion (about Rs 8,000 crore) when the replacement value of brand new assets built by the company is at least USD 1.5 billion and the asking price was Rs 20,000 crore, PTI reported its former chairman D K Sarraf as saying.

08:57 (IST) 22 Oct 2018
Lackluster start of the week: HDFC Securities

The markets are likely to be off to a lackluster start as uncertainties galore in local and global markets. The three main concerns for the international markets this week are slowing Chinese economy, Ramification of Jamal Khashoggi murder on Crude oil prices and Italian bond spreads. China’s GDP grew 6.5% between July and September, down slightly from 6.7% from the same quarter a year earlier and falling short of analysts' expectations of 6.6% growth. Chinese stocks surged as the government pledged to introduce a stimulus in a bid to calm jittery markets.

There are no takers still for the Saudi version of the Jamal Khashoggi murder story that it were rogue elements that killed the Washington Post journalist inside the Saudi consulate. The Allies fear that the killing was under the knowledge of the royalty. How Saudi and US leadership handle this situation and its ramification on Crude oil prices are of utmost importance to our markets. Italy last week unveiled a target for its 2019 budget deficit of 2.4% of gross domestic product, three times as large as the previous government’s target. Rating agencies may downgrade Italy and that would trigger a selloff in its bonds. Spread between German and Italian bond yields also needs to be watched closely.

Back home, focus will be on earnings this week as 17 prominent Nifty constituents are set to declare the quarterly numbers this week. Liquidity crunch in NBFC space continue to plague sentiments in our markets. The Nifty needs to hold above the 10,140 mark this week. A close below this could trigger additional sales.

Share Market last week: The domestic stock markets closed sharply lower on Friday as Reliance Industries’ lower than expected earnings, ongoing cash crunch in NBFCs and H1-B visa issue dented investors sentiment. The 30-share Sensex closed 463.95 points or 1.33% down at 34,315.63, while the broader Nifty 50 too ended lower by plunging 149.50 points or 1.43% to 10,303.55. HDFC Bank and Reliance Industries were the leading contributors to Nifty’s fall.
Switch to Hindi Edition