Share market HIGHLIGHTS: Sensex closes nearly 300 points higher, Nifty ends at 10,585; banks lead rally

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Updated:Oct 16, 2018 5:12:30 pm

Share market highlights: The BSE Sensex closed Tuesday's trade 297.38 points higher, while the Nifty closed below the 10,600-mark at 10,584.75 points. Banking stocks, followed by realty, auto and pharma sectors, led the rally today.

share market live today, stock market live todayShare market highlights today: Check Sensex, Nifty live updates here

Share market highlights: The Sensex and Nifty gained for the third consecutive day on Tuesday riding on upbeat cues from the global markets, coupled with a recovery in the rupee and easing crude oil prices. Gains were led by banking stocks, followed by realty, auto, pharma, IT and metals stocks.

The BSE Sensex closed Tuesday’s trade 297.38 points or 0.85% higher at 35,162.48 points, after gaining nearly 350 points to scale an intra-day high of 35,215.79 points intra-day. M&M, Adani Ports, ONGC, SBI, ICICI Bank, Axis Bank, Reliance and HDFC were among the top gainers on the Sensex index. HDFC Bank was the top drag on the Sensex index.

The NSE Nifty closed Tuesday’s trade at 10,584.75 points, up 72.25 points or 0.69%. The Nifty had reclaimed the 10,600-mark on an intra-day basis, rising to a high of 10,604.90 points. All the sectoral indices on the Nifty closed in the positive territory. Among the Nifty 50 companies, 31 stocks advanced while 19 declined, indicating a bearish market breadth.

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

16:18 (IST)16 Oct 2018
Q2 update: Infosys Q2 net profit rises 10.3% on-year to Rs 4,110 crore

India’s second largest IT behemoth Infosys has reported results for July-September quarter in-line with street estimates as net profit came in 10.3% higher on year to Rs 4,110 crore. A CNBC Tv18 poll had estimated net profit at Rs 4,138 crore. The total revenue came in at Rs 20,609 crore, implying a rise of 17.3% on-year.

Read the full story here: Infosys Q2 results key figures in a nutshell

15:50 (IST)16 Oct 2018
Indian stock markets continued to trade on a firm clip today: BNP Paribas Mutual Fund

After opening the week on a positive note, stock markets in India continued to trade today on a firm clip. Buying at lower levels and some relief at the macro data level encouraged traders to take long positions in the market. Both the benchmark Sensex and the Nifty finally closed the day with gains of over 0.50%. On the macro front, India's merchandise trade deficit during April-September 2018 was reported at $94.32 billion. The trade deficit for September 2018 was at $13.98 billion, which is the lowest in the last 5 months, despite high oil prices. All the sectoral indices on the National Stock Exchange finally closed the day in positive territory.

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

15:48 (IST)16 Oct 2018
NSE live: Check out the top five gainers and losers on the Nifty

The NSE Nifty closed Tuesday's trade at 10,584.75 points, up 72.25 points or 0.69%. The Nifty had reclaimed the 10,600-mark on an intra-day basis, rising to a high of 10,604.90 points. Check out the top five gainers and losers on the Nifty here:

15:40 (IST)16 Oct 2018
CLOSING BELL: Sensex closes nearly 300 points higher; Nifty ends at 10,585

The BSE Sensex closed Tuesday's trade 297.38 points or 0.85% higher at 35,162.48 points. The Nifty closed below the 10,600-mark at 10,584.75 points, up 72.25 points or 0.69%. Check out the top Sensex gainers and losers here:

15:31 (IST)16 Oct 2018
Ace investor Vijay Kedia tells investors on how to tread in a volatile stock market

Ace investor Vijay Kedia has released his second single 'Mere Share Bazaar', on the tune of hit Bollywood number 'Mere Rashk-e-Qamar', advising investors on how to tread in a volatile stock market. Unlike the previous song, in which he mostly shared the characteristics of a good quality company stock, Vijay Kedia shares his own experience through the rough and tumble of the stocks markets in his second song.

Check out the video here: Billionaire investor Vijay Kedia sings to the tune of ‘Mere Rashk-e-Qamar’: Shares multi-bagger formula

15:26 (IST)16 Oct 2018
P-notes investments hit over nine year low in September

Investments in the Indian capital market through participatory notes (P-notes) hit a nearly nine-and-a-half year low of Rs 79,548 crore till September after registering a rise in such fund infusion in the preceding month, said a PTI report citing SEBI data. Total value of P-note investments in Indian markets - equity, debt, and derivatives - slumped to a low of Rs 79,548 crore till September-end from Rs 84,647 crore clocked by August-end, which was the first rise in such fund infusion in 10 months. Prior to that, in July, the figure was Rs 80,341 crore. P-notes are issued by registered foreign portfolio investors (FPIs) to overseas investors who wish to be part of the Indian stock market without registering themselves directly. They, however, need to go through due diligence process.

15:19 (IST)16 Oct 2018
Sensex gains 300 points again! Nifty inches closer to 10,600

The BSE Sensex gained over 300 points during the last 15 minutes of trade led by gains in M&M, Adani Ports, ONGC, SBI, ICICI Bank, Reliance Industries, HUL and Axis Bank among other gainers. The NSE Nifty inched closer to the 10,600 level. The Nifty has already reclaimed the 10,600-mark on an intra-day basis, rising to a high of 10,604.90 points.

15:07 (IST)16 Oct 2018
Oil and gas shares gain; RIL up over 2%

Oil and gas shares rose after Oil Minister Dharmendra Pradhan on Tuesday said the government will not interfere in the daily pricing of petrol and diesel. Shares of ONGC gained over 3% and was among the top Sensex gainers during late-afternoon trade deals. Reliance Industries share traded over 2% higher, while OIL, BPCL, GAIL and IOC shares gained up to 2% on the BSE oil and gas index.

14:50 (IST)16 Oct 2018
Global Markets UPDATE: European shares rebound from 22-month low as earnings season starts

European shares rose on Tuesday helped by stronger defensive stocks as the focus turned to the start of the reporting season which is expected to deliver double-digit earnings growth for the third quarter, said a Reuters report. The pan-European STOXX 600 index was up 0.4% by 0834 GMT, after hitting a 22-month low in the previous session on the back of risings U.S. Treasury yields and a mix of geopolitical tensions. Despite the bounce some caution remained after a turbulent start of October that saw the STOXX 600 post on Friday its biggest weekly loss since February. The index remains down 7.4% so far this year.

13:53 (IST)16 Oct 2018
Airline stocks jump as crude oil prices ease; Jet Airways up 5.6%

Airline stocks rose on Tuesday as crude oil prices eased, with shares of Jet Airways climbing 5.6% to an intra-day high of Rs 213.30 per share. SpiceJet shares rose by 3.11% to a high of Rs 72.90 on the BSE, while InterGlobe Aviation edged higher by 3.8% to Rs 855.05. Oil prices dipped on Tuesday amid expectations of an increase in U.S. crude inventories, but signs of a fall in Iranian oil exports this month kept losses in check, said a Reuters report.

Read more here: IndiGo, SpiceJet, Jet Airways share price zooms up to 10.5%; two key reasons why

13:38 (IST)16 Oct 2018
Rupee UPDATE: Trades near day's high at 73.63/$

The rupee recovered on Tuesday riding on lower crude oil prices and gains in the domestic equity markets. The rupee recovered nearly 20 paise from its previous close to a day's high of 73.62 per US dollar, Bloomberg data showed. It currently traded at 73.63 against the greenback.

13:30 (IST)16 Oct 2018
Nifty live! Check out the top gainers and losers

The NSE Nifty traded with gains during the mid-afternoon trade session and reclaimed the 10,600-mark on an intra-day basis. Here are the top 5 gainers and losers on the Nifty:

13:26 (IST)16 Oct 2018
Q2 update: Federal Bank Q2 PAT at Rs 266 crore

Federal Bank on Tuesday reported its corporate results for the second quarter ended September 2018. Key snippets:

  • PAT rose to Rs 266.04 crore against Rs 263.70 crore during the same quarter in the previous year
  • Net interest income (NII) during the quarter increased 13.7% year-on-year to Rs 1,022.5 crore
  • Gross NPA rose to 3.11 %
  • Net NPA was up 1.78% for the quarter

Shares of Federal Bank traded 8.45% higher at Rs 82.10 per share on the BSE.

12:48 (IST)16 Oct 2018
Commodities UPDATE: Oil prices dip amid expectations of higher US inventories

Oil prices dipped on Tuesday amid expectations of an increase in U.S. crude inventories, but signs of a fall in Iranian oil exports this month kept losses in check, said a Reuters report. International benchmark Brent crude for December delivery had fallen 6 cents, or 0.07%, to $80.72 per barrel by 0654 GMT. U.S. West Texas Intermediate crude for November delivery was down 14 cents at $71.64 a barrel. U.S. crude stockpiles were forecast to have risen last week for the fourth straight week, by about 1.1 million barrels, according to a Reuters poll ahead of reports from the American Petroleum Institute (API) and the U.S. Department of Energy's Energy Information Administration (EIA).

12:32 (IST)16 Oct 2018
L&T Infotech, PTC unveil IoT center of excellence in Bengaluru

IT services company Larsen & Toubro Infotech Tuesday said it has launched a centre of excellence (CoE) in Bengaluru, in alliance with US-based PTC Inc, that will design, build and showcase solutions for smart and connected enterprises. "The CoE will focus specifically on Industry 4.0 solutions in Manufacturing and Oil & Gas sectors," Larsen & Toubro Infotech said in a statement. LT Infotech shares traded higher by 0.18% at Rs 1804.15 per share on the BSE.

12:29 (IST)16 Oct 2018
Sector UPDATE: PSU banks gain in trade; SBI shares up 1.5%

PSU Banks shares gained on Tuesday, which Central Bank gaining over 4.8% in early afternoon trade deals. Bank of Baroda, SBI, Union Bank and PNB  shares gained up to 1.5%.

12:26 (IST)16 Oct 2018
Hathway, DEN shares gains amid reports of RIL's acquisition

The shares of Hathway Cable and DEN Networks surged nearly 8% in morning trade deals on Tuesday amid media reports that Mukesh Ambani’s Reliance Industries (RIL) may take over controlling stakes in the country’s largest cable TV and broadband service providers. Currently, Hathway shares traded at Rs Rs 29.80 per share, up 2.94% on the BSE. Shares of DEN Networks traded flat at Rs 75.65 per share. Reliance Industries shares traded with gains of 0.70% at Rs 1147.80 per share, after rising nearly 1% on an intra-day basis.

Read more here: Amid Mukesh Ambani-led Reliance Industries’ stake buy reports, shares of Hathway, DEN up nearly 8%

12:17 (IST)16 Oct 2018
NSE live: After pharma, now FMCG index in red!

The Nifty trimmed some gains during early afternoon trade deals on selling pressure in pharma and FMCG stocks. United Breweries shares dragged the Nifty FMCG index lower, followed by United Spirits, ITC, Godrej Industries, Tata Global Beverages, and Colgate Palmolive.

12:08 (IST)16 Oct 2018
Future Retail shares climb 4.7% on reports of stake sale

Future Retail shares climbed nearly 5% to an intra-day high of Rs 454.35 per share on the BSE after media reports said e-commerce giant Amazon is likely to buy 7-8% stake in Future Retail via investment arm. According to a report by CNBC TV18, the deal is expected to be signed in the next weeks.

Also read: Jeff Bezos’ big India bet: Amazon may buy up to 8% stake in Kishore Biyani’s Future Retail

11:31 (IST)16 Oct 2018
Global Markets UPDATE: Asia stocks edge higher but Saudi tensions limit advance

Asian stocks rose modestly on Tuesday, gaining a firmer footing after a week of heavy losses, although cooling factory-gate inflation in China and increasing tensions between Saudi Arabia and the West have capped gains, reported Reuters. Spreadbetters expected European stocks to open slightly higher, with Britain's FTSE edging up 0.05% Germany's DAX adding 0.25% and France's CAC tacking on 0.15%. MSCI's broadest index of Asia-Pacific shares outside Japan nudged up 0.25%, crawling away from a 19-month trough touched on Thursday. Japan's Nikkei bounced 0.8% following a decline of nearly 2% the previous day.

11:20 (IST)16 Oct 2018
RBI approves appointment of Sandeep Bakshi as ICICI Bank MD, CEO; shares up 2.7%

Shares of ICICI Bank surged 2.7% intra-day to a high of Rs 321.65 per share on the BSE after the bank on Tuesday said the RBI has approved Sandeep Bakshi's appointment as Managing Director and CEO of the bank for three years. After resignation of Chanda Kochhar, who was facing inquiry, earlier this month, the bank's board had elevated Chief Operating Officer (COO) Bakshi as the new managing director and CEO for five years until October 3, 2023, subject to regulatory and other approvals.

11:12 (IST)16 Oct 2018
BSE live! Sensex gains over 300 points on value buying

The BSE Sensex gained nearly 350 points to an intra-day high of 35,215.79 points during the mid-morning trade deals on Tuesday led by gains in index heavyweights like M&M, ICICI Bank, IndusInd Bank, ONGC, Axis Bank, Reliance and HDFC-twins. Wipro was the top drag on the Sensex index.

11:05 (IST)16 Oct 2018
Sector UPDATE: Nifty Pharma sole index in red; Lupin gains 1%

The NSE Nifty Pharma was the only loser among sectoral indices on the NSE. Cipla, Sun Pharma, Glenmark, and Dr. Reddy's Lab were among the top losers on the pharma index. Lupin, on the other hand, gained up to 1.12%.

10:58 (IST)16 Oct 2018
Hero MotoCorp shares dip marginally ahead of Q2 results

Shares of two-wheeler major Hero MotoCorp fell marginally by 0.3% to a low of Rs 2,874.45 per share on the BSE today ahead of its Q2 results to be announced later during the day. Among the other companies that will announce their Q2 results today are Crisil, Federal Bank, J&K Bank and Mahindra CIE Automotive.

10:46 (IST)16 Oct 2018
Rupee falls 9 paise against dollar to 73.92 on rise in demand for USD from banks

The domestic currency rupee weakened by 9 paise against dollar in the early trade on Tuesday due to increased demand for the American currency from banks and importers. Notably, the rupee opened higher at Rs 73.79, but soon plunged to 73.92. Yesterday, the rupee had lost 26 paise to close at 73.83, after crude prices rose amid intensifying geopolitical tensions. Taking stock of India’s rupee position, veteran investor Marc Faber said that INR has become tad oversold, and may rally to 71-72 against dollar but long-term trend is down.

Also read: Rupee falls 9 paise against dollar to 73.92 on rise in demand for USD from banks

10:26 (IST)16 Oct 2018
South Indian Bank share price rises 17% on strong Q2 resutls; rallies most in over 3 years

Shares of India's public sector lender South Indian Bank zoomed nearly 15% on Tuesday, after the lender reported strong Q2 restults. South Indian Bank share price rose by 14.7% to hit an intr-day high of Rs 14.7 on BSE in the morning trade. Yesterday, the bank reported over 16-fold rise in profit  to Rs 70.13 crore for quarter under review. The bank had posted a profit of Rs 4.32 crore in the corresponding quarter last year. Net interest income increased marginally by 0.65% on-year to Rs 506.47 crore, against Rs 503.22 crore in the same period last year.

10:06 (IST)16 Oct 2018
Marc Faber's take on rupee: INR will hit 100 againt dollar in next 10 years

Veteran investor Marc Faber believes that rupee has become tad oversold, and may rally to 71-72/$ but long-term trend is down. In an interview to ET Now, Editor and Publisher of ‘The Gloom, Boom & Doom Report’ said that the rupee will depreciate by 5-10% against US dollar in the next few years.  Faber said that rupee can go to 100 against USD in the next 10 years.

09:51 (IST)16 Oct 2018
Infosys share price rallies 2% ahead of Q2 results today

Shares of India's IT giant Infosys rallied by nearly 2% on Tuesday morning, ahead of the firm's Q2 results scheduled to be announced later today. Infosys shares rallied 1.8% to hit an intra-day high of Rs 710.95 on BSE. The street will be keenly watching any revision in revenue growth guidance for FY19, outlook on BFSI space, performance of digital vertical and upward estimate in margins, if any, in the wake of rupee depreciation.

09:24 (IST)16 Oct 2018
Sensex opens above 35,000; Nifty above 10,500; financials, IT rally

09:13 (IST)16 Oct 2018
Markets are expected to open flat to negative tracking SGX Nifty -- Geojit Financial Services

Markets are expected to open flat to negative tracking SGX Nifty. The Nifty ended higher for a second straight session on Monday after a weak start, led by pharma and IT stocks benefiting from a depreciating rupee. The index ended 40 points higher at 10,512.50. The WPI Inflation for September rose to a two-month high of 5.13%, mainly due to the higher food prices and the rise in the cost of petrol and diesel. Among sectoral indices, IT as well as pharmaceuticals rose while automobiles and metals closed lower. Nifty pharma index gained 2.7% while Nifty Auto Index was down 0.6%. On the broader markets, midcaps and smallcaps had a very strong day, with both indices ending over a percent higher. IT major Infosys ended nearly 4% higher ahead of its Q2 results, due on Tuesday. Infosys, ITC, ONGC, Dr. Reddy’s and Hindalco were among the top gainers on key indices, whereas Hindustan Unilever, HPCL, M&M and ICICI Bank were among the major gainers.

-- Geojit Financial Services

09:10 (IST)16 Oct 2018
Today USDINR likely to remain in the range of 73.66-74

Today USDINR likely to remain in the range of 73.66 (stretched 73.47) to 74.00 (stretched 74.18).

U.S. Dollar declined yesterday as retail sales data came out much lower than expected. But Dollar Index remains above 95-level, currently at 95.12, though it has again lifted safer currencies like Japanese Yen and Swiss Franc higher. West & Saudi Arabia tensions and Brexit talks standoff with EU has kept the global markets in defensive mode. DOW closed down 89 points, Asian markets Nikkei & HangSeng are 124 & 42 points respectively, whereas SGX Nifty Fut is flat currently.

Key data were released in India yesterday. WPI (Sep) came in higher than prior & expected, whereas India’s trade deficit (Sep) declined to -$13.98bn compared to previous -$17.39bn and expected -$17.03bn primarily due to lower Imports and stable exports. Rupee will continue to be influenced by equity, dollar, crude and yuan trends. Higher Dollar & Crude will push the Rupee weaker, whereas a fall in both will keep the Rupee supported.

-- Hiren Sharma, Portia Advisory Services LLP

Also read: Is rupee headed towards 80 vs US dollar by 2018-end? Here’s what experts say

09:07 (IST)16 Oct 2018
Markets pre-open: Sensex opens 180 points higher; Rupee opens at 73.80 per dollar

The BSE Sensex traded at 35,048.07 points, up 182.97 points or 0.52% higher, during the pre-open market session on Tuesday. The rupee opened at 73.80 against the US dollar.

09:01 (IST)16 Oct 2018
Stocks in focus today: Reliance, IndusInd Bank, Infosys, Hero MotoCorp

Infosys, Hero MotoCorp: 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.

IndusInd Bank: Private sector lender IndusInd Bank reported its corporate results for the second quarter ended September 2018. PAT rose 4.6% to Rs 920.25 crore during the quarter while the net interest income (NII) grew by 21% year-on-year to Rs 2,203.28 crore in Q2.

Reliance Industries: India is an important market for the oil major and the firm is in talks with Reliance Industries Limited (RIL) to venture into downstream business, ET Now reported citing company CEO Bob Dudley.

TV18 Broadcast: TV18 Broadcast 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.

Share market on Monday: 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 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%.
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