Share market HIGHLIGHTS: Sensex ends 132 points up; Nifty holds 10,500; Infosys gains 4% ahead of Q2 results

By: | Updated:Oct 15, 2018 4:45 pm

Share market highlights: The Sensex and Nifty closed in the positive territory for the second consecutive session on Monday led by value buying in bluechip stocks. IndusInd Bank reported a 4.6% rise in PAT to Rs 920.25 crore for Q2 2018. TV18 Broadcast posted a profit of Rs 40.36 crore for the quarter ended September 2018. Infosys shares climbed nearly 4% ahead of Q2 results.

Share market live updates, stock markets todayShare market live today: Check Sensex, Nifty live updates here

Share market highlights today: The Sensex and Nifty closed in the positive territory for the second consecutive session on Monday led by value buying in bluechip stocks. The BSE Sensex closed a volatile trading day 131.52 points or 0.38% higher at 34,865.10 points. Infosys, ITC, HDFC Bank, Reliance Industries, TCS, Sun Pharma, ONGC, HDFC and Wipro together contributed nearly 300 points to the BSE Sensex index. The BSE market breadth was bullish, with 1,637 advances and 967 declines.

The Nifty of the National Stock Exchange reclaimed the 10,500-mark on Monday led by gains in index heavyweights like Dr Reddy’s, Hindalco, Cipla, Infosys and ITC among others. The Nifty closed Monday’s trade at 10,512.50 points, up 40 points or 0.38%. However, the Bank Nifty closed slightly lower by 0.03%. Among the sectoral indices, the Nifty auto, metal and private bank indices closed in red.

The Sensex and Nifty had turned choppy after opening on a higher note on Monday amid negative global cues, weak rupee and rising crude oil prices. The rupee hit the 74/$ mark intra-day riding on higher crude prices and weak macro-economic data. Asian and European markets slumped on Monday. Crude oil prices rose as tension over the disappearance of a prominent Saudi journalist stoked supply worries, although concerns over the long-term demand outlook dragged on sentiment, said a Reuters report.

Among the major announcements during the day, private sector lender IndusInd Bank reported its corporate results for the second quarter ended September 2018. The bank’s profit after tax rose 4.6% to Rs 920.25 crore for Q2 2018 and net interest income (NII) grew by 21% year-on-year to Rs 2,203.28 crore. TV18 Broadcast’s shares surged post the announcement of its quarterly results. The company posted a profit of Rs 40.36 crore for the quarter ended September 2018 against a loss of Rs 6.82 crore in the previous period.

Q2 update: Hero MotoCorp and Infosys are expected to come out with their corporate results for the second quarter ended September 2018 on Tuesday. Infosys shares climbed nearly 4% ahead of Q2 results. Other companies include Federal Bank, Mahindra CTE, J&K Bank and Crisil.

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

16:43 (IST) 15 Oct 2018
I.T. and Pharma helped Benchmarks to close in green: HDFC Securities

Over the weekend US President Donald Trump promised “severe punishment” if Saudi Arabia was shown to have killed Jamal Khashoggi.  In the aftermath of Sanctions on Iran, the U.S. expects the Saudis and Russians to make good the loss of production. The Saudi’s can’t afford to antagonise the U.S. so they were expected fall in line.  In the afternoon trade, news reports came of an official inquire into the matter from Saudi Arabia soothed frayed nerves. Crude oil price corrected almost 2% intraday from the top.

Fall in crude oil helped nifty regain more than 100 points from the lows. The markets manage to close in the green.  Today was the first instance where Index managed to close in green for two consecutive days for the first time in the last one month.  Falling Rupee helped IT and Pharmaceutical stocks outperform the index.

-- VK Sharma, Head PCG & Capital Markets Strategy, HDFC Securities

16:01 (IST) 15 Oct 2018
NSE Live! Check out top gainers and losers on Nifty

The NSE Nifty reclaimed the 10,500-mark on Monday led by gains in index heavyweights like Dr Reddy's, Hindalco,  Cipla, Infosys and ITC among others. The Nifty closed Monday's trade at 10,512.50 points, up 40 points or 0.38%.

15:49 (IST) 15 Oct 2018
Will boost crude production next month: Saudi Oil Minister

Saudi Oil Minister on Monday said the country will boost crude production next month. The current production level is at 10.7 million BPD, TV news channels reported. Crude prices traded at 81.24USD/bbl at the time of reporting. (Bloomberg data)

15:38 (IST) 15 Oct 2018
CLOSING BELL: Sensex closes 131 points higher; Nifty ends above 10,500

The BSE Sensex on Monday closed 131.52 points or 0.38% higher at 34,865.10 points led by gains in index heavyweights like Infosys, ITC, ONGC, TCS, Reliance and HDFC Bank. The Nifty closed above the 10,500 mark at 10,512.50 points, up 40 points or 0.38%.

Check out the top gainers and losers on  the BSE Sensex:

15:23 (IST) 15 Oct 2018
Q2 update: Infosys, Hero MotoCorp to declare results tomorrow

Hero MotoCorp and Infosys are expected to come out with their corporate results for the second quarter ended September 2018 on Tuesday. Other companies include Federal Bank, Mahindra CTE, J&K Bank and Crisil.

15:18 (IST) 15 Oct 2018
Global markets UPDATE: Pakistan stocks down 3% after appeal for IMF bailout

Pakistan stocks slid by 3% on Monday weighed down by a global selloff and the new government seeking a bailout from the International Monetary Fund (IMF), said a Reuters report. The Pakistan Stock Exchange's benchmark 100-share index lost 1128.93 points and was trading at 36,389.00 by mid-afternoon, down 3.01%. The KSE has shed 10% since October 1 on worries over dwindling foreign reserves and a currency devaluation in response to a ballooning current account deficit. Pakistan's finance ministry said last week Islamabad was approaching the IMF for assistance to help stabilise the economy, amid a deepening balance of payments crisis.

15:00 (IST) 15 Oct 2018
Commodity UPDATE: Gold recoups on festive season buying!

Gold prices Monday bounced back by Rs 200 to Rs 32,250 per 10 grams at the bullion market on the back of positive global trend and fresh buying by local jewellers. Silver followed suit and recovered by Rs 350 to Rs 39,750 per kg due to increased offtake from industrial units and coin makers. Traders attributed the rise in gold prices to a firm trend overseas as Asian stocks eased due to concerns about a potential decline in China's economic growth amid an ongoing trade war and signs of tighter monetary policy by the US Federal Reserve, said a PTI report. Besides, increased buying by local jewellers at domestic spot market to meet festive season demand, also fuelled the uptrend.

In the national capital, gold of 99.9% and 99.5% purity rebounded by Rs 200 each to Rs 32,250 and Rs 32,100 per 10 grams, respectively. It had shed Rs 70 Saturday. Sovereign gold too showed some strength and traded Rs 100 higher at Rs 24,700 per piece of eight grams

14:57 (IST) 15 Oct 2018
Global market UPDATE: European shares hit 22-month low, risk-off mood prevails

European shares failed to rebound and hit a 22-month low on Monday after their worst week since a correction in February as threats such as trade wars, rising U.S. yields, Chinese growth, Brexit and the Italy/EU budget row continued to weigh on markets, said a Reuters report. For European bourses there was no wind of optimism from Asia where stocks suffered as rising diplomatic tensions between Riyadh and the West over the disappearance of a journalist pushed oil higher. At 0754 GMT, the pan-European STOXX 600 was down 0.6 percent at 356.8 points, levels not seen since December 2016. Noting that Wall Street had managed to stage a rebound on Friday, ING analysts stressed that risks were still on the upside.

14:06 (IST) 15 Oct 2018
'Continued liquidity stress may have deeper impact on NBFCs': Moody's

Non-bank financial companies (NBFCs) are likely to be impacted significantly if the liquidity situation, triggered by IL&FS default, continues to remain tight, PTI reported on Monday citing a Moody's report. Infrastructure Leasing & Financial Services (IL&FS) and its subsidiaries are facing liquidity crisis and has defaulted on debt repayment. The default by IL&FS has also impacted other NBFCs and also mutual fund players. 'Non-bank financial institutions (NBFI) will be significantly impacted if the liquidity distress in the country's capital markets, triggered by the default in September 2018 of IL&FS, prolongs for an extended period of time,' The Moody's report said.

Read here: IL&FS liquidity crunch could deeply hurt not only NBFCs, but also broader economy: Moody’s

14:04 (IST) 15 Oct 2018
Q2 update: IndusInd Bank's profit after tax up 4.6%

Private sector lender IndusInd Bank reported its corporate results for the second quarter ended September 2018. Key insights:

  • PAT rose 4.6% to Rs 920.25 crore
  • Net interest income (NII) grew by 21% year-on-year to Rs 2,203.28 crore in Q2
  • Gross non-performing assets (NPA) fell to 1.09%
  • Net NPA declined to 0.48%

Shares of IndusInd Bank were trading at Rs 1616.40 per share, down 2.12%, on the BSE.

13:38 (IST) 15 Oct 2018
Total SA mulls buying stake in Adani Gujarat LNG, tap India’s gas market

French energy major Total SA is in talks to acquire up to 50% stake in Adani’s Gujarat LNG (liquefied natural gas) projects and in an under-construction LPG import facility in Odisha, the PTI reported citing sources. Adani group, which owns the crucial downstream infrastructure in India, could be a good fit for Total SA, which is eying to grab a pie in the growing gas market in the country. Total SA is also planning to buy a significant holding in Adani’s city gas projects. Shares of Adani Enterprises were trading at Rs 146.55 per share, up 1.53% on the BSE at 1:15 pm today.

Read more here: Adani’s LNG projects grab Total attention; French giant mulls buying stake, tap India’s gas market 

13:32 (IST) 15 Oct 2018
NSE Live: Nifty reclaims 10,500!

The NSE Nifty reclaimed the 10,500-mark, rising over 50 points to an intra-day high of 10,524.60 points during the mid-afternoon trade session. Gains were led by pharma, IT, media, FMCG, financial services and realty sectors. Bank Nifty was trading in the green, whereas Nifty PSU Bank and private bank indices were trading lower on the NSE. Dr Reddy's Lab, Cipla, Infosys, ITC, and HCL Technologies were the top gainers on the Nifty.

13:17 (IST) 15 Oct 2018
Maruti Suzuki falls as brokerages cut price target

Shares of Maruti Suzuki fell 2.2% to Rs 7126.05 per share on the NSE on Monday after brokerages cut price target on margin woes.

  • Morgan Stanley has cut price target by 12% to Rs 8,725, maintains 'overweight' rating
  • Macquarie Research has cut price target to Rs 9,000 from Rs 11,500, maintain 'outperform' rating. Macquarie said to expect demand headwinds due to a rise in cost of ownership stemming from higher fuel prices and new motor insurance rules.
  • According to Morgan Stanley, sales growth slowdown over July-September was due to high base last year, delayed festive season and impact of flooding in Kerala and elsewhere. "Believe investors are concerned about impact on sales momentum and margins from rising interest rates, inflation and fuel prices; rupee depreciation; and rising discounts on certain models," Reuters quoted a Morgan Stanley report as saying.

Maruti's stock is down 25.1% this year as of its last close.

12:33 (IST) 15 Oct 2018
Sector UPDATE: Media stocks gain; TV18 Broadcast rises post Q2 results

Media stocks traded with gains on Monday, with shares of TV18 Broadcast rising nearly 9% post the announcement of its quarterly results. The company posted a profit of Rs 40.36 crore for the quarter ended September 2018 against a loss of Rs 6.82 crore in the previous period.

12:20 (IST) 15 Oct 2018
BSE live! Sensex trims losses as IT stocks gain

The BSE Sensex trimmed most morning losses and traded at 34,722.59 points, marginally down by 10.99 points or  0.03%. IT bluechip stocks like Infosys, TCS and Wipro traded with gains. HDFC Bank, Tata Motors, Reliance, Kotak Bank, SBI were among the other top gainers.

 

12:07 (IST) 15 Oct 2018
BREAKING: September WPI at 5.13%

The wholesale price index for the month of September stood at 5.13% against 4.53% during the same month last year. Food inflation stood at 0.14%.

Read for more details: Bad news! WPI inflation rises to 5.13% in September after easing in August FY19

12:02 (IST) 15 Oct 2018
RUPEE at day's low; slips further to 73.9975/$

The rupee inched closer to the 74/$ mark during late-morning trade deals on Monday. The rupee hit the 74/$ mark intra-day and currently traded at 73.9975 against the US dollar, Bloomberg data showed.

11:52 (IST) 15 Oct 2018
Sector UPDATE: Most Auto stocks traded lower; Eicher Motors down nearly 3%

Most auto stocks traded lower on the NSE on Monday. The Nifty Auto index was down 0.95%, led by losees in Eicher Motors (-2.91%), M&M (-2.78%), MRF (-2.35%),  TVS Motor (-1.92%), Maruti (-1.10%), Bajaj Auto (-0.87%) and Hero MotoCorp (-0.43%). On the other hand, Exide Industries shares were up 3.51%.

11:41 (IST) 15 Oct 2018
Global Market UPDATE: Australian shares close at 6-month low as bank earnings loom

Australian shares fell to a six-month low on Monday, led by the financials on growing concerns about the hit to earnings from an inquiry into misconduct in the sector and as sentiment in global markets remained broadly bearish, said a Reuters report. The S&P/ASX 200 index fell 1%, or 58.6 points to 5,837.1. Broad-based weakness among financial stocks in the wake of damaging revelations in a months-long quasi-judicial Royal Commission inquiry pulled the sub-index to its lowest level in over two years, closing 1.6% lower. The "Big Four" banks sank with Commonwealth Bank of Australia down 2.1% to its lowest in over five years.

11:26 (IST) 15 Oct 2018
Dr Reddy's Lab climbs 4%

Dr Reddy's Labs shares rose over 4% to an intra-day high of Rs 2553 per share on the BSE after the company on Monday said it entered into a definitive agreement for the sale of its API Active Pharmaceutical Ingredients (API) manufacturing business unit located in Jeedimetla, Hyderabad, to Therapiva Private Ltd, an emerging generics pharmaceutical company.

11:20 (IST) 15 Oct 2018
IndusInd Bank shares down 1.7% ahead of Q2 results

Shares of IndusInd Bank fell by 1.7% to a low of Rs 1623.25 per share on the BSE ahead of the announcement of the corporate results for the quarter ended September 2018. The Indian stock market erased entire early morning gains to trade in the red, led by losses in most banks, auto and FMCG stocks.

11:05 (IST) 15 Oct 2018
Sector UPDATE: Private banks stocks trade lower; Yes Bank stock down 1.4%

Shares of private banks were trading lower on the Nifty Pvt Bank index today. Shares of ICICI Bank slipped over 2%, followed by Axis Bank, Yes Bank, IndusInd Bank, South India Bank, and Kotak Bank. However, HDFC Bank was trading slightly higher by 0.14%.

10:55 (IST) 15 Oct 2018
Commodities UPDATE: Gold rises as falling markets burnish appeal

Gold prices rose on Monday as Asian shares resumed their fall and investors grappled with the impact of the ongoing Sino-U.S. trade war and higher U.S. interest rates, reported Reuters. Spot gold was up 0.4 percent at $1,222.0 an ounce at 0417 GMT, and not far off last week's two-month high of $1,226.70.U.S. gold futures were up 0.2 percent at $1,225.60 an ounce.

10:51 (IST) 15 Oct 2018
CESC hits 3-week high on non-power business demerger

Electric utility company CESC Ltd's shares rose 5.3% to an intra-day high of Rs 948.35 on Monday after the company on Friday said that post-NCLT nod, it has decided to demerge non-power investments into two entities - new retail and venture companies. CESC's shares surged to their highest since September 24. Each existing shareholder of CESC, for every 10 of his holding, will be allotted additional 6 shares of Rs 5 each in new retail and additional 2 shares of Rs 10 each in the venture company, the company said.

According to Nomura, CESC stock could rally from current levels as a much-awaited positive catalyst is set to play out and maintained "neutral" rating, said a Reuters report.

10:43 (IST) 15 Oct 2018
Bandhan Bank shares rise on regulatory relief to trim promoter stake

Bandhan Bank shares rose 3.7% to an intra-day high of Rs 486 per share on the BSE after the market regulator SEBI exempted the bank from a restriction on promoters selling shares for one year after listing. The private sector lender on Friday said it has got an exemption from the SEBI on one year lock-in period for selling shares by promoters.

10:26 (IST) 15 Oct 2018
NIFTY outlook for the week: Support is now shifted upward to 10,350

The support for the Nifty is now shifted upward to 10,350, close below which would be considered as a violation of bullish trend reversal. The Nifty is expected to continue its pullback rally towards 10,800 levels. Stoploss in Nifty longs should be kept at 10,350.

Read the full article here: Nifty technical outlook for the week: Likely to extend pullback rally towards 10,800; Stoploss 10,350

10:22 (IST) 15 Oct 2018
Q2 impact: D-Mart shares plunge 7% intra-day

D-Mart shares plunged over 7% to a low of Rs  1310 on the BSE during Monday's morning trade session. Shares of the company took a knock after the company on Friday posted 19% year-on-year (YoY) growth in its net profit to Rs 226 crore. The firm’s revenue rose 39 percent to Rs 4,872 crore against Rs 3,507 crore during the corresponding quarter of last year.

10:04 (IST) 15 Oct 2018
Oil prices climb amid Saudi tensions

Crude oil futures rose on Monday as geopolitical tensions over the disappearance of a prominent Saudi journalist stoked worries about supply, although concerns about the long-term outlook for demand dragged on prices, a Reuters report said. Crude markets were also supported in the wake of data that showed South Korea did not import any oil from Iran in September for the first time in six years, before U.S. sanctions against the Middle Eastern country take effect in November. Brent crude had risen $1.01, or 1.26%, to 81.44 a barrel by 0424 GMT, on track for its biggest daily gain since Oct. 9. U.S. crude futures climbed 80 cents, or 1.12%, to $72.14 a barrel, extending gains they racked up on Friday after hefty losses on Wednesday and Thursday.

Also read: Oil prices rise amid Saudi tensions, but demand outlook drags

10:02 (IST) 15 Oct 2018
Rupee falls 36 paise to 73.93 against dollar in early trade

The rupee dropped 36 paise to 73.93 against the US currency in early trade Monday, breaking its three-day recovery trend, as crude prices rose amid weak macroeconomic data, said a PTI report. A spurt in dollar demand from importers amid sustained foreign fund outflows also weighed on the rupee. Dealers said, factors like the dollar's strength against some other currencies overseas and a volatile opening of the equity markets also impacted the domestic currency.

Also read: After three days of recovery, rupee plunges 36 paise to 73.93 against dollar

09:56 (IST) 15 Oct 2018
Q2 impact: HUL shares slip over 3%

HUL shares slipped 3.65% in early morning trade deals on Monday after the FMCG major last week declared its corporate results for the second quarter ended September 2018. HUL was the top loser on the Sensex. The company reported a 19.51% on-year rise in net profit to Rs 1,525 crore. Revenues too jumped 11.45% on year to Rs 9,138 crore as against Rs 8,199 crore in the year-ago period.

Also read: HUL Q2 net profit rises 19.5% to Rs 1,525 crore; key figures in a nutshell

09:39 (IST) 15 Oct 2018
NSE Live! Check out the most traded stocks

JP Associates was the most traded stock by volume on the NSE during the first 15 minutes of trade on Monday. Check the other stocks here:

09:27 (IST) 15 Oct 2018
Market Opens: Sensex, Nifty turn flat; HUL shares dip over 2% after Q2 results

The Sensex and Nifty turned flat after a higher opening on Monday. Shares of HUL slipped over 2% and those of Avenue Supermarts fell over 4% in early morning trade deals after the companies announced their corporate results for the second quarter of 2018 on Friday.

09:14 (IST) 15 Oct 2018
Rupee outlook: Likely to remain in the range of 73.44 to 73.97

"Today USDINR likely to remain in the range of 73.44 (stretched 73.31) to 73.97 (stretched 74.30). U.S. Dollar has risen as no accord seems to be reaching on Brexit & EU deal, ahead of key European Union summit. Markets are again moving towards safer currencies that of USD & JPY. Dollar Index is currently at 95.35, USDJPY at 112.11. This re-shift alongwith Crude’s rise again is keeping the Asian & emerging markets on toes. Crude is making a mini-comeback as tensions rose between Riyadh & western countries over the disappearance of a journalist critical of Kingdom policies. Brent is at $81.41 per barrel, after bouncing back from Friday’s near 3-week low of $79.25. Asian markets are accordingly in a state of descent again, both Nikkei & HangSeng are down by 378 & 360 points respectively, whereas SGX Nifty Fut is relatively stable, just -11 points presently. Rupee after having a better day on Friday (as mentioned & expected in Friday-morning report), may get restricted to any further alarming rise, due to Crude & Dollar pressure. In all, it may remain relatively stable, but it will continue to follow the trends of equity, dollar, crude & yuan."

-- Hiren Sharma, Portia Advisory Services LLP

09:08 (IST) 15 Oct 2018
Pre-opening session: Sensex, Nifty open in green; Rupee opens at 73.80/$

The Sensex and Nifty surged higher in the pre-open trade session on Monday. The rupee opened at 73.7950 against the US dollar against its Friday's close at 73.56 against the greenback.

Share market last week: Sensex and Nifty on Friday posted their biggest intra-day percentage gain in over two years as market sentiment was lifted by a rebound in the rupee, easing crude oil prices and recovery in the global markets as well. Healthy-buying was witnessed across all sectors — barring the IT index — led by banks, auto, realty, metals and oil and gas. The BSE market breadth was bullish with 2,043 companies advancing against 628 declines.
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