Share market HIGHLIGHTS: Sensex closes 344 pts lower, Nifty ends below 10,150 on expiry day; Airtel down 7%

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Updated:Oct 25, 2018 4:45:54 pm

Share market HIGHLIGHTS today: Sensex and Nifty closed Thursday's trade on a negative note amid a global market rout. Derivatives expiry, too, spooked investors. The BSE Sensex fell to its lowest level in over six months, dropping below the 33,700-level for the first time since April. The NSE Nifty slipped below the 10,100 mark for the first time in nearly seven months.

sensex live, share market live, bse liveShare market HIGHLIGHTS: Check for Sensex, Nifty live updates here

Share market HIGHLIGHTS: Sensex and Nifty — the benchmark indices of the domestic equity markets — closed Thursday’s trade on a negative note as a global market rout, along with derivatives expiry, spooked investors. The BSE Sensex fell to its lowest level in over six months, dropping below the 33,700-level for the first time since April. The NSE Nifty slipped below the 10,100 mark for the first time in nearly seven months.

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.

The NSE Nifty closed October series 99.85 points or 0.98% lower at 10,124.90 points. The Nifty Bank index closed Thursday’s trade 0.98% lower. All the sectoral indices, barring the IT index, closed in the red on the National Stock Exchange. Among major Nifty companies, India’s largest car manufacturer Maruti Suzuki India reported Q2 results above street expectations as net profit came in at Rs 2,240 crore, down by 9.8% on year. JSW Steel reported a net profit of Rs 2,087 crore year-on-year.Yes Bank and Bharti Airtel are expected to declare their Q2 results after market hours.

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Highlights

    16:41 (IST)25 Oct 2018
    Market View: Epic Research

    Nifty Forms another Doji on the daily chart as indecisiveness prevails amid volatility. A volatile session with a wider range as the Indian market was following the global negative cues to open gap Down. The selling pressure was clearly visible across the board with sectors like Pvt banks, PSU, Media, Pharma and real estate losing as much as 2% by closing hours. The selling pressure spanned to Broader indices while already bleeding space such as Midcap, Small Cap, and Energy joined the wagon shredding a percent.

    Technically, This is a typical noisy market in the near term and has all the characteristics of the same. Gaps, up and Down, indecisiveness, Doji formations. Not to mention, the day of expiry of a contract. All this was added as it was an opportunity for writers to jump in and eat the premiums. This may be in place for a while as the market tries to pull itself out for a directional play based on a change in consensus. One must understand it is not an opportunity for going long aggressively but also not on the short side as supports, very important, are just a few points away.

    Nifty must close below 9950 for the continuation of the trend while any bounce from these levels will be swift and fast. We remain cautious and sidelined. A change instance will only be either on a breach of 9950 or 10200.

    -- Mustafa Nadeem, CEO, Epic Research

    16:40 (IST)25 Oct 2018
    Market View: BNP Paribas Mutual Fund

    It was yet another day of losses on the bourses as investors once again took to selling Indian equities. Despite a small recovery yesterday, benchmark indices were unable to trade with strength and succumbed to selling pressure. Negative global stocks also impacted domestic sentiment. Both the benchmark Sensex and the Nifty finally closed the day with losses of nearly 1%. Most Asian stocks declined as concerns mount that corporate profits and economic growth are peaking amid rising borrowing costs. US stocks dropped yesterday, 24 October 2018 as mixed corporate earnings and weak housing data fueled anxiety that rising prices will crimp economic growth. All the sectoral indices on the National Stock Exchange closed in the red.

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

    16:29 (IST)25 Oct 2018
    BHEL announces share buyback for Rs 1,628 crore

    State-run power major BHEL has announced a share buyback programme for Rs 1,628 crore. The buyback offer will be made using the tender offer route and about 18.93 crore shares aggregating to 5.16% of the total paid equity share capital – will be bought back. Take a look at the key details of the massive buyback programme hereRecord date announced; key things about mega PSU stock repurchase

    15:56 (IST)25 Oct 2018
    Q2 IMPACT: Dish TV India shares plunge to over 8-year low

    Shares of Dish TV India Ltd plunged nearly 20% to Rs 35.90 on the NSE on Thusrday. The shares fell to their lowest in over 8 years after the company reported an 8.5% fall in net profit. The stock posted its sharpest intra-day drop since March, 2008. Dish TV share price is down 45.3% this year.

    15:53 (IST)25 Oct 2018
    Q2 UPDATE: NIIT net profit doubles to Rs 26 crore

    Key highlights:

    • Net profit nearly doubled to Rs 25.9 crore from Rs 12.7 crore YoY
    • Net revenue was up 10% at Rs 228.5 crore YoY
    • EBITDA rose by 23% to Rs 21.9 crore
    • NIIT's Corporate Learning Group (CLG) posted net  revenue of Rs 161.6 crore, rising 28% YoY

    NIIT share price closed 2.05% higher at Rs 72.35 per share on the BSE.

    15:49 (IST)25 Oct 2018
    Q2 UPDATE: PVR's net profit up 31% to Rs 33 crore

    Key highlights:

    • Consolidated net profit up 31.18% at Rs 33.02 crore
    • Total income at Rs 714.65 crore vs Rs 559.52 crore YoY
    • Total expenses at Rs 659.14 crore

    PVR Shares closed at Rs 1,286, up 0.29% on the BSE.

    15:46 (IST)25 Oct 2018
    Q2 UPDATE: JSW Steel's net profit at Rs 2087 crore

    Key highlights:

    • Net profit at Rs 2,087 crore vs Rs 836 crore
    • Net revenue up 27.5% at Rs 21,552 crore vs Rs 16,910
    • EBITDA at Rs 4,906 cr
    • EBITDA margin at 22.7% YoY

    JSW Steel share price closed 0.40% higher at Rs 353.45 per share on the BSE.

    15:43 (IST)25 Oct 2018
    NSE Live! Check out the Nifty gainers and losers

    The NSE Nifty ended the October series down by nearly 1% at 10,124.90 points. Check out the top five gainers and losers today:

    15:40 (IST)25 Oct 2018
    CLOSING BELL: Sensex closes 344 points lower, Nifty ends below 10,150

    Sensex and Nifty — the benchmark indices of the domestic equity markets — closed Thursday’s trade on a negative note. The BSE Sensex closed at 33,690.09 points, down 343.87 points or 1.01% lower, while the NSE Nifty ended nearly 1% down at 10,124.90 points.

    15:19 (IST)25 Oct 2018
    Global Markets UPDATE: European stocks recover to trade at day's high

    Eurozone shares proved relatively resilient to a global sell-off on Thursday, managing modest gains despite heavy losses in U.S. and Asian markets. Dow Futures traded higher by more than 200 points.

    15:17 (IST)25 Oct 2018
    Q2 UPDATE: Oriental Bank of Commerce posts Rs 102 crore profit in Q

    Key highlights:

    • TOBC reported a profit of Rs 101.74 crore against a net loss of Rs 1,749.90 crore in the corresponding quarter of 2017-18
    • Total income declined to Rs 4,967.29 crore YoY
    • Gross NPAs hit 17.24%
    • Net NPAs rose to 10.07% of the net loans
    • Capital adequacy ratio of the bank stood at 10.35%

    Shares of OBC traded 6.82% higher at Rs 66.55 on the BSE.

    15:12 (IST)25 Oct 2018
    Oil prices steady after stock markets plunge

    Oil prices steadied on Thursday, recovering from an early sell-off after Asian and European stock markets plunged in the wake of Wall Street's biggest daily decline since 2011, said a Reuters report. Brent crude oil fell 82 cents, or 1.1%, to a low of $75.35 before recovering to trade around $76.32, up 15 cents, by 0910 GMT. The global benchmark has lost more than $10 a barrel since hitting a high of $86.74 on Oct. 3. U.S. light crude was unchanged at $66.82 after touching an intraday low of $65.99, down 83 cents.

    14:10 (IST)25 Oct 2018
    Q2 update: Maruti Suzuki's net profit drops

    Key highlights:

    • Net profit down 9.8% at Rs 2,240 crore
    • Revenue up 3.1% at Rs 22,433 crore
    • EBITDA down 6.7% at Rs 3,431.1 crore
    • EBITDA margin at 15.3%
    • Rising interest rates fuel prices are a cause for concern, says the company.

    Maruti Suzuki shares traded at Rs 6,669 per share on the BSE, down 1.47%.

    Also read: Maruti Suzuki net profit drops 9.8% on-year to Rs 2,240 crore: Key figures in a nutshell

    13:57 (IST)25 Oct 2018
    IndiGo share price recovers 8% from day’s low after morning plunge

    InterGlobe Aviation share price dropped over 5% in early morning trade on Thursday after the company reported its first quarterly loss since its listing in November 2015.  However, Indigo shares recovered by nearly 8% from its lows during the day’s trade on value buying.  Interglobe Aviation, the operator of low-cost carrier IndiGo, on Wednesday reported a net loss of Rs 652 crore for the quarter ended September against a profit of Rs 551 crore during the same period last year.

    Read full story here: IndiGo share price recovers 8% from day’s low after morning plunge on Q2 loss; here’s what brokerages say

    13:43 (IST)25 Oct 2018
    Tata Steel largely undeterred by global 'tariff war' - CEO

    Tata Steel has not seen much impact due to the global "tariff war", Chief Executive T.V. Narendran said on Thursday. The company expects to complete the deal to buy Usha Martin within the next six months, Reuters reported Narendran as saying, adding that the company's debt to EBITDA ratio remains unchanged. The CEO said Tata Steel keen on acquiring Bhushan Power for the price at which they bid. The company expects global steel prices to stabilise soon and sees steel imports from Turkey and Ukraine, Narendran said.

    Tata Steel shares were trading 1.05% lower at Rs 544.05 per share on the BSE.

    13:32 (IST)25 Oct 2018
    Commodities UPDATE: London copper prices slip to 2-wk low after Wall Street rout

    London copper prices fell for a third straight session on Thursday, hitting a two-week low as the metal considered to be an economic bellwether tracked a slump in global equity markets, said a Reuters report. Copper has been losing ground on concerns of a slowdown in top metals consumer China, which pledged to support illiquid private companies after third-quarter GDP growth slowed to 6.5%, the lowest since 2009.

    12:27 (IST)25 Oct 2018
    Q2 UPDATE: HCL Infosystems reports loss at Rs 2.8 crore

    Key highlights:

    • Q2 FY19 revenue at Rs. 1,084 Crore vs Rs. 754 Crore in Q2 FY18
    • Loss before interest, tax and exceptional items was Rs. 2.8 Crore in Q2FY19
    • Distribution business revenue at Rs. 936 Crore in Q2FY19

    Shares of HCL Infosystems traded 7.13% higher at Rs 26.30 per share on the BSE.

    12:20 (IST)25 Oct 2018
    L&T Finance Holdings share price plunges 13% despite strong Q2 results

    Shares of NBFC firm L&T Finance Holdings plunged on Thursday, despite the firm reporting stellar Q2 results, however, business was affected by exposure to IL&FS in the latest quarter. LTFH noted that four issues including Kerala deluge, Infrastructure Leasing & Financial Services (IL&FS), rumors of Supertech default and prevailing liquidity position affected the industry in Q2FY19. Notably, L&T Finance Holdings share price plunged by more than 12.6% intra-day to hit fresh 52-week low of Rs 110.65 on NSE this afternoon. In the latest quarter, L&T Finance Holdings has reported a 65% rise in net profit to Rs 560 crore from Rs 338 crore a year earlier.

    Read more here: L&T Finance Holdings share price plunges 13% despite strong Q2 results; IL&FS concerns at play?

    12:14 (IST)25 Oct 2018
    Sector UPDATE: IT stocks buck the trend!

    The Nifty IT index was the only index trading in the green amid a carnage in the Indian equity markets on Thursday. Wipro shares gained over 3% after the company announced its Q2 earnings on Wednesday.

    12:11 (IST)25 Oct 2018
    Oil prices pulled down by global stock market plunge

    Oil prices were dragged lower on Thursday by a plunge in global stock markets, with U.S. stocks posting the biggest daily decline since 2011 to wipe out the year's gains, said a Reuters report. Front-month Brent crude oil futures were at $75.76 a barrel at 0621 GMT, 41 cents, or 0.5%, below their last close. U.S. West Texas Intermediate (WTI) crude futures were at $66.45 a barrel, 37 cents, or 0.6%, below their last settlement.

    11:55 (IST)25 Oct 2018
    Q2 UPDATE: BHEL reports net profit at Rs185.2 crore

    Key highlights:

    • Revenue up 6.3% at Rs 6780 crore vs Rs 6375 crore YoY
    • Net profit was reported at Rs 185.2 crore
    • EBITDA at Rs 241 crore
    • EBITDA margion at 3.5% vs 2.7% YoY
    • Other income at Rs 151.70 cr

    Shares of Bharat Heavy Electricals traded 3.82% lower at Rs 73.05 per share on the BSE.

    11:45 (IST)25 Oct 2018
    NSE sector UPDATE: Nifty Auto index hits fresh 52-week low!

    The NSE Nifty AUto index hit a fresh 52-week low on Thursday amid a sector-wide sell-off in the domestic equity markets. Motherson Sumi Systems was the top drag, followed by shares of Eicher Motors, Bharat Forge, Tata Motors and Ashok Leyland.

    11:41 (IST)25 Oct 2018
    Global market UPDATE: Aussie shares end at more than 1-yr low after Wall St sell-off, NZ down

    Australian shares sank across the board on Thursday to end at a more than one-year low, with metals and mining leading the descent after Wall Street's biggest daily decline since 2011 set the bearish tone, said a Reuters report. The S&P/ASX 200 index fell for a fifth straight session, closing 2.8% down at 5664.1. The Australian metals and mining index fell 3.5% to a more than one-month closing low.

    11:36 (IST)25 Oct 2018
    Q2 UPDATE: Varun Beverages profit up 31%

    Key highlights:

    • Net profit expanded 31% to Rs 42.2 crore
    • Revenue grew 21% YoY to Rs 1165.7 crore
    • EBITDA rose 13.9% YoY to Rs. 211.2 crore

    "Our India business has delivered organic volume growth of 11.7% during this period on the back of strong peak season sales. PAT increased by 31% YoY driven by strong volumes in India as well as in the international operations,"  Ravi Jaipuria, Chairman, Varun Beverages Limited, said in a statement.

    Varun Beverages shares traded lower 0.37% at Rs 746.30 per share.

    11:11 (IST)25 Oct 2018
    Sector UPDATE: PSU banks fall; SBI down over 2%

    The Nifty PSU bank index traded with loses on Thursday. SBI shares fell over 2%, followed by Syndicate Bank (-1.11%), Central Bank (-1.01%), Indian Bank (-0.97%) and Bank of Baroda (-0.83%). Bank of India shares traded down by 2.11%.

    11:00 (IST)25 Oct 2018
    Q2 UPDATE: Bharti Airtel share price falls 5% ahead of results

    Billionaire Sunil Mittal-led Bharti Airtel share price plunged on Tuesday ahead of its Q2 results scheduled to be announced later today. Notably, Bharti Airtel share price plunged 4.93% this morning to intraday low of Rs 301, as the firm is expected to post its first quarterly loss in 15 years. In view of the extreme competition in the telecom space, especially from Mukesh Ambani-led Reliance Jio, brokerage firms expect the firm to report its first quarterly loss in 15 years.

    Read the full story here: Sunil Mittal firm may post first loss in 15 years

    10:55 (IST)25 Oct 2018
    NSE Live! Nifty slips below 10,100 for first time since March

    The NSE Nifty slipped below the 10,100-mark during the mid-morning trade deals on Thursday. The Nifty fell below the psychologically important mark for the first time in nearly seven months on the back of a huge sell-off amid a global markets rout. The Nifty is down nearly 4% this year.

    10:26 (IST)25 Oct 2018
    Reliance Industries slips below 200-DMA

    Reliance Industries share price continued to decline for the sixth consecutive day on Thursday, with the stock falling below 200-DMA. RIL fell over 2% to a low of Rs 1023 per share on the BSE, even as the Sensex dived over 300 points.

    10:03 (IST)25 Oct 2018
    Sensex slips below 33,700 for the first time since April 9

    The BSE Sensex slipped below the 33,700-mark to hit a low of 33,683.38 points intra-day as selling intensified amid a global rout. The Sensex breached the mark for the first time in over six months.

    09:58 (IST)25 Oct 2018
    Q2 UPDATE: Yes Bank shares up 1.45% ahead of quarterly results

    Shares of Yes bank rose 1.45% to a high of Rs 206.95 per share on the BSE ahead of its quarterly results announcement later during the day. Currently, the shares traded at Rs 204.20 per share, up 0.10%.

    09:53 (IST)25 Oct 2018
    Global Market UPDATE: Asian stocks lose $5 trillion so far this year with no end in sight

    After a slump in U.S. stocks, Asia’s main equity gauge has finally succumbed, entering a bear market overnight. The region’s equities have already lost more than $4.9 trillion in value this year, and Thursday isn’t looking pretty, according to a Bloomberg report. The MSCI Asia Pacific Index fell 2.1% at 9:34 am in Hong Kong, taking its slide from a January peak to 22%. Japan’s Topix index plunged 2.9%, heading for its lowest close since September 2017, while the Nikkei 225 Stock Average lost 3.5%.

    Read the full story here: Asian stocks lose $5 trillion so far this year with no end in sight

    09:50 (IST)25 Oct 2018
    Q2 IMPACT: Wipro shares up nearly 3%

    Wipro share price surged nearly 3% on Thursday. The IT services major on Wednesday posted a 13.8% decline in consolidated net profit at Rs 1,889 crore for the July-September quarter of 2018-19. Earnings per share for the quarter was Rs 4.19. The IT services segment revenue was reported at Rs 14,380 crore (USD 2 billion). "We expect revenue from IT services business (in October-December 2018 quarter) to be in the range of USD 2,028 million to USD 2,068 million... This translates to sequential growth outlook of 1-3 per cent," the company said in a statement.

    09:42 (IST)25 Oct 2018
    Crude oil prices fall amid global stock markets slump

    Oil prices fell by around one percent on Thursday, coming under pressure from sharp selloffs in global stock markets, with U.S. stocks posting the biggest daily decline since 2011 to wipe out the year’s gains, according to a Reuters' report. Front-month Brent crude oil futures were at $75.42 a barrel at 0043 GMT, 75 cents, or 1%, below their last close. U.S. West Texas Intermediate (WTI) crude futures were at $66.23 a barrel, 59 cents, or 0.9%, below their last settlement.

    Read the full story here: Crude oil prices fall amid global stock markets slump

    09:36 (IST)25 Oct 2018
    Rupee opens 19 paise weak at 73.34 against US dollar

    Rupee opened weak in the early trade Thursday, losing 19 paise at 73.34 per US dollar versus 73.15 yesterday. On Wednesday, plunge in global crude oil prices supported the rupee as it ended 41 paise higher against Tuesday’s close of 73.56.

    Read the full story here: Rupee opens 19 paise weak at 73.34 against US dollar

    09:32 (IST)25 Oct 2018
    NSE live! Check out the most traded stocks

    L&T Finance Holdings was among the most traded stock by volume in the first 15 minutes of trade on the NSE today. Check out the other stocks here:

    09:20 (IST)25 Oct 2018
    OPENING BELL: Sensex opens 300 points lower, Nifty down nearly 1%

    The BSE Sensex and NSE Nifty nearly 1% lower in opening trade on Thursday in line with global stocks. Check out the top gainers and losers on the Sensex.

    09:12 (IST)25 Oct 2018
    Viewpoint: Wall Street Tumbles Yet Again -- HDFC Securities

    The U.S. Indices have tumbled again Wednesday on the same reasons of fears of slowing global growth, rising interest rates and plateauing profits.

    While the Dow and the S&P 500 have turned negative for the year, by 0.6%and 0.7% respectively, the Nasdaq has entered correction territory, falling more than 10% for the year.

    The dollar index has risen by about 0.3%, challenging the nascent recovery in the Rupee. Our Nifty, which closed with gains of 0.8% yesterday will again be under pressure on the opening trade. Today is also the settlement day for October derivatives. Rollovers are in line with recent months and that is unlikely to put pressure on the markets. Support for the nifty comes in at recently formed bottom of 10102.

    -- HDFC Securities

    09:10 (IST)25 Oct 2018
    PRE-OPEN SESSION: Sensex dives 200 pts, Rupee opens at 73.2962 per dollar

    The BSE Sensex traded over 200 points in the pre-open session on Thursday. The rupee opened nearly 19 paise lower at 73.2962 against the US dollar.

    Share market on Wednesday: Sensex and Nifty snapped a four-day losing streak to close Wednesday’s trade higher riding on a strong rupee, lower crude oil prices and healthy buying in most realty, NBFCs, metals, and FMCG stocks. The BSE Sensex closed Wednesday’s trade 186.73 points or 0.55% higher at 34,033.96 points. On the National Stock Exchange, the Nifty closed 77.95 points or 0.77% higher at 10,224.75 points.