Share Market HIGHLIGHTS: Sensex ends 463.95 points lower, Nifty ends tad above 10,300; RIL, Yes Bank top losers

By: | Updated:Oct 19, 2018 4:29 pm

Share Market HIGHLIGHTS: The BSE Sensex opened lower on Friday, and soon lost 400 points. RIL, Yes Bank, HDFC, HCL Technologies, Tech Mahindra, Indiabulls Housing Finance, and Maruti Suzuki were some of the stocks caught in the bear trap.

Share Market HIGHLIGHTS:

Share Market HIGHLIGHTS: 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.

The BSE Sensex opened lower on Friday and soon lost 400 points, even as the broader Nifty 50 opened below the psychological 10,350 level. The 30-share Sensex opened at 34,563 today and soon plunged to an intra-day low of 34,288, down by 491 points as compared to the previous close.

At the end of the day, while Sun Pharma, Kotak Bank, HPCL, Vedanta and ITC were among the top gainers on the key indices, Indiabulls Housing Finance shares fell 17.06%, Yes Bank (6.06%), Reliance Industries closed the day at 4.11% down on BSE. Mind Tree shares were down 16.13% and PNB Housing shares closed 18.55% lower than the previous close.

Asian markets too clawed back losses on Friday as China’s efforts to bolster investor confidence helped its share markets rally. China on Friday posted its economic growth at 6.5% y-o-y in the third quarter of 2018, its slowest pace since 2009.
Asian stocks fell as sentiment soured on issues ranging from trade worries and growth concerns in China, Reuters reported earlier today. Overnight, US stocks closed in deep red, with S&P 500 at 2,768.78, down 1.44% or 40 points. Oil prices nudged higher on Friday but were set for a second weekly drop amid higher U.S. crude inventories, an ongoing Sino-U.S. trade war and concerns over the death of a prominent Saudi journalist, Reuters reported. 
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16:07 (IST) 19 Oct 2018
Top losers

15:43 (IST) 19 Oct 2018
Closing Bell: Sensex, Nifty closed sharply lower

While the 30-share Sensex closed 463.95 points or 1.33% at 34,315.63, the broader Nifty 50 too ended lower by plunging 149.50 points or 1.43% to 10,303.55.

15:26 (IST) 19 Oct 2018
Nifty gainers

15:24 (IST) 19 Oct 2018
Rupee Update:

 Indian rupee is trading higher by 16 paise at 73.44 against Wednesday's close 73.60 per dollar.

15:22 (IST) 19 Oct 2018
Sensex heat map

15:18 (IST) 19 Oct 2018
UltraTech Cement qtrly profit falls, misses expectations; shares fall

Cement maker UltraTech Cement Ltd's quarterly profit dropped 9.4 % and missed market expectations, due to higher expenses, the company's statement showed on Friday. Shares of the company were trading at Rs 3613.60, down 3.13%.

15:03 (IST) 19 Oct 2018
US trade war hammers Chinese tech stocks, Zhou Qunfei’s Lens Technology biggest loser

IPhone and Tesla touchscreens once made her China’s richest woman. The U.S.-China trade war has made her the biggest loser in 2018 among Chinese billionaires. Zhou Qunfei, the chairman of consumer electronics supplier Lens Technology Co., has lost 66 percent of her fortune, or $6.6 billion, this year — the biggest drop in percentage terms among China’s wealthy — according to the Bloomberg Billionaires Index.

Read the full story here

14:39 (IST) 19 Oct 2018
Indians buying more GOLD! April-September gold imports rise 4%; widen trade gap

Rising gold import is adding to worries of the Indian government, which is struggling to contain its widening current account deficit (CAD) amid depreciating value of rupee against the US dollar.

Read the full story here: Indians buying more GOLD! April-September gold imports rise 4%; widen trade gap

14:37 (IST) 19 Oct 2018
Mphasis Q2 net profit up 37%, shares decline 5%

On Friday, Mphasis reported a net profit of Rs 271 crore for the quarter ended on September 30,  an increase of 37% from Rs 197.6 crore in the same period last year. Total income rose by 19.5% to Rs 1,962.4 crore during the quarter from Rs 1,642.2 crore in September quarter last year. Shares of the company fell 4.91% to Rs 1,068 on BSE. 

14:32 (IST) 19 Oct 2018
Indians buying more GOLD! April-September gold imports rise 4%; widen trade gap

Gold imports during the first half of the current financial year 2018-19 rose about 4% to $17.63 billion, pushing the country’s trade deficit to $94.32 billion in April-September 2018-19 as against $76.66 billion in the same period last year, according to the commerce ministry data.

14:21 (IST) 19 Oct 2018
RIL share price today slumps up to 7% in afternoon trade

Shares of Mukesh Ambani-led Reliance Industries plunged as much as 7% in the afternoon trade on Friday, after the company reported lower-than-expected July-September earnings on Wednesday.

Read entire story here: RIL share price today slumps up to 7% after Mukesh Ambani announces weaker than expected Q2 earnings

13:13 (IST) 19 Oct 2018
Top losers

12:46 (IST) 19 Oct 2018
Sensex down 384.74 points, tests 34,394.84; financial services stocks remain under pressure

The 30-share Sensex plunged by nearly 384.74 points on Friday afternoon, as financial stocks continued to remain under extreme pressure. Shares of Yes Bank plunged by as much as 5.58% intra-day after hitting an intraday low of Rs 213.10, while shares of Indiabulls Housing Finance were down 4.62 % in the afternoon trading. Repco Home was down at Rs 296.25, a decline of 13.22% from the previous close, while IIFL plunged 11.15% to trade at Rs 382.35 a share.

11:29 (IST) 19 Oct 2018
Nifty financial services stocks

11:09 (IST) 19 Oct 2018
DHFL shares fall 11%, Indiabulls Housing down 15%, PNB Housing Finance fell 12%

Shares of housing finance companies continued to fall with Indiabulls Housing Finance shares declining over 15% and DHFL shares down 11%. PNB Housing Finance also fell 12%, while Repco Home Finance and LIC Housing Finance declined 7.8% and 2.5%, respectively.

10:58 (IST) 19 Oct 2018
Stock market extends losses: Sensex heat map

The domestic stock markets were trading under heightened pressure, falling by more than 440 points after hitting an intra-day low of 34,288.25. 

10:47 (IST) 19 Oct 2018
Big relief for NBFCs and HFCs as RBI allows banks to lend more to them

The Reserve Bank of India (RBI) Friday took more steps to ease the liquidity crunch and restart the flow of credit to non-banking financial companies, by allowing banks to use government securities equal to their incremental credit to non-banking lenders, over and above their outstanding credit to them, as on October 19, to be used to meet liquidity coverage ratio requirements. It would include all NBFCs and HFCs. The measure came in the backdrop of rising concerns of NBFCs over cash crunch after IL&FS debt crisis. 

10:30 (IST) 19 Oct 2018
Top losers on BSE

10:28 (IST) 19 Oct 2018
Mindtree shares crash 16% after Q2 earnings

Mindtree shares fell as much as 16.68% to Rs 815.70 per share. On Wednesday, the company registered a 65.4% increase in consolidated net profit at Rs 206.3 crore for the September quarter of the current financial year 2018-19, as against a net profit of Rs 124.7 crore in the year-ago period. Its revenues also went up by 31.8% to Rs 1,755.4 crore during the quarter from Rs 1,331.6 crore in the year-ago period.

10:13 (IST) 19 Oct 2018
China's economic growth slows to 6.5% y-o-y in third quarter of 2018; its worst pace since the financial crisis

As China's trade war with the U.S. puts pressure on growth, the economic growth of China has slowed down more than expected to its weakest pace since the first quarter of 2009, according to official data released on Friday. The economy of the country grew 6.5% year-over-year in the third quarter of 2018, missing expectations for a 6.6% growth. The latest GDP data of the world's second-largest economy also came in lower than the 6.7% year-over-year expansion in the previous quarter.

10:02 (IST) 19 Oct 2018
Jet Airways shares up 8% on Tata Sons stake buy news

Jet Airways shares rose as much as 8.18% to Rs 233.90 per share in early morning trade after some media reports said that Tata group is in talks to acquire a controlling stake in Jet Airways, along with management control. Jet Airways spokesperson though refuted the news report, according to Reuters.

09:58 (IST) 19 Oct 2018
Top gainers on BSE

09:52 (IST) 19 Oct 2018
Yes Bank shares fall 5% after RBI denies Rana Kapoor’s term extension

Yes Bank on Friday slumped as much as 4.91% to Rs 220.35 in the early morning trade after the bank said on Wednesday that Reserve Bank of India has refused the request to extend CEO and MD Rana Kapoor’s tenure. The RBI has directed the bank to appoint his successor by 1 February 2019.

09:44 (IST) 19 Oct 2018
Rupee strengthens 12 paise to 73.48 against US dollar in early trade

The rupee strengthened 12 paise to 73.48 against the US dollar in early morning trade, due to increased demand for the American currency from importers. The rupee opened lower at 73.62 and slipped further, showing an increase of 12 paise, the Bloomberg data showed. The rupee is the worst performing emerging market currency having lost almost 15% since January this year.

09:33 (IST) 19 Oct 2018
RIL share price tanks 7% after Q2 resutls

Shares of billionaire Mukesh Ambani-led Reliance Industries tanked by more than 5% in the morning trade, after the firm reported Q2 results on Wednesday. RIL shares hit an intra-day low of Rs 1,070.25, down by more than 7% since previous close. RIL has reported a net profit of Rs 9,516 crore, up 17 percent on-year. In Q2, RIL had reported an 18 percent on-year rise in net profit to Rs 9,459 crore. Credit Suisse has an outperform ratring on the shares with a target price of Rs 1,320. 

09:22 (IST) 19 Oct 2018
Asia shares extend slump as weak growth in China adds to woes

Asian markets opened with losses: Stocks in Asian markets dropped on Friday as global sentiment soured on issues ranging from Italy's 2019 budget, trade worries and growth concerns in China that led to a decline in Chinese shares in the previous session, the Reuters reported. Early in the trading day, MSCI's broadest index of Asia-Pacific shares outside Japan was 0.4% weaker. Overnight, US stocks closed sharply lower. S&P 500 at 2,768 is down 1.44%.

09:18 (IST) 19 Oct 2018
Sensex opens 400 points lower, Nifty below 10,350

09:06 (IST) 19 Oct 2018
Sensex pre-open: Heat map

09:02 (IST) 19 Oct 2018
Brokaerages upbeat on RIL after strong Q2 results

Many brokerages have raised the target share price on Reliance Industires after the firm reported strong Q2 profits. RIL has reported a net profit of Rs 9,516 crore, up 17 percent on-year. In Q2, RIL had reported an 18 percent on-year rise in net profit to Rs 9,459 crore. Credit Suisse has an outperform ratring on the shares with a target price of Rs 1,320. The shares closed at Rs 1,151 on Wednesday.

Share Markets on Wednesday:  In a choppy trading session observed on Wednesday, the 30-shares Sensex closed 382 points lower, even as the broader Nifty closed below the psychological 10,500 level as financials and NBFC stocks dragged. Yesterday, the stock markets were closed on account of Dussehra.   
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