Share market HIGHLIGHTS: Fantastic Friday! Sensex, Nifty end 2% higher; post biggest one-day gain in two years

Share market today: Sensex and Nifty on Friday posted their biggest one-day percentage gains since May 2016. Gains in auto, banks, metals, realty, oil and gas sectors, along with a rebound in the rupee as well as global markets lifted market sentiment.

At 10,599.25, the benchmark Nifty50 has given a negative return of 12.6% in dollar terms since January, while the S&P 500 has risen by 9.4% over the same period. (Reuters)
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Share market updates: Track Sensex, Nifty live updates here

Share market today: 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.

The BSE Sensex, which surged over 800 points to scale an intra-day high of 34,808.42 points, ended Friday’s trade  732.43 points, or 2.15%, higher at 34,733.58 points. Reliance Industries was the top Sensex contributor, adding 120 points, followed by HDFC Bank (+88.34), ITC (+81.49), HDFC (+74.63), Kotak Bank (+64.49), Maruti Suzuki (+54.17) and ICICI Bank (+46.48). TCS remained the only Sensex loser, which closed with losses of over 3%.

The NSE Nifty closed above the crucial 10,450-mark at 10,472.50 points, up 237.85 points or 2.32%. TCS, HCL Technologies, Dr Reddy’s Lab and Tech Mahindra were the only losers on the National Stock Exchange. The Nifty Bank index closed with gains of 2.47% on Friday.

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

16:33 (IST)12 Oct 2018
Bandhan Bank gets SEBI exemption for one-year promoter share lock-in

Kolkata-based private sector lender has recieved SEBI exemption with respect to regulatory requirement of a one year lock-in period on promoter shares. According to SEBI rules, promoter shares must be necessarily be locked-in for a period of one year post listing. Bandhan Bank had come out with its public offer in March this year. The shares subsequently listed on the exchanges on March 27th.

Read more here: Bandhan Bank gets SEBI exemption for one-year promoter share lock-in

16:17 (IST)12 Oct 2018
Impact of falling rupee on exports: Drip Capital

‘“The Indian Rupee has been on a downhill slide for most of the year, falling for six months straight, the longest stretch since 2002. Since 2013, the Rupee has lost around 20.8% against the US dollar. Common perception is that devaluation in currency means good times for exporters, because they end up selling more as their goods/services become cheaper in the international market. However, there are several factors at play that mean that exporters see the negligible positive impact of a falling rupee, such as import dependencies, damping because of global supply chains, increased profit hedging, etc. For example, there are trends that show that trade impacts the value of a currency, rather than the other way around. The rupee depreciation rate in June this year was 5.19% while the export growth was 14.17%. However, when the rupee further fell sharply to 6.56% the next month, the export growth in fact reduced to 9.37%. This is because we import materials like crude, rough diamonds, gold, and precious metals to manufacture our major export commodities. Factors such as this mean that Indian exporters might actually see only minimal impact of the rupee’s continued devaluation.”

— Pushkar Mukewar, Co-Founder and Co-CEO, Drip Capital

16:03 (IST)12 Oct 2018
After market hours Q2 update: HUL posts net profit of Rs 1,525 crore

  • Profit after tax (PAT) at Rs. 1525 Crores was up by 20%
  • Revenue at Rs 9,234 crore was up 11.1%
  • Earnings before interest, tax, depreciation and amortization (EBITDA) at Rs 2,019 crore was up by 20%
  • Board of Directors has declared an interim dividend of Rs. 9 per share for the year ending 31st March 2019
  • Leo Puri was appointed as an Independent Director on HUL’s Board effective October 12, 2018.

15:58 (IST)12 Oct 2018
Market recovered amid strengthening rupee and drop in oil prices: Geojit Financial Services

“Market smartly reversed from yesterday’s fall amid strengthening rupee and drop in oil prices. Recent drop in valuation kept the stocks attractive while investors may seek more clarity from upcoming quarterly results. Investors are also keen on today’s CPI inflation data in the context of volatility in rupee & oil prices. Worries about US FED rate hike, US-China trade dispute and political uncertainties in India on account of upcoming state elections may impact the sentiment in the short-term.:

— Vinod Nair, Head of Research, Geojit Financial Services

15:51 (IST)12 Oct 2018
NSE live! Check out the gainers and losers today

The NSE Nifty closed Friday’s trade higher by 237.85 points or 2.32% at 10,472.50 points. The Nifty posted the biggest one-day percentage gain in over 2 years. Check out the top gainers and losers on the NSE:

15:41 (IST)12 Oct 2018
CLOSING BELL: Sensex, Nifty ends 2% higher

The Sensex and Nifty on Friday posted their biggest one-day percentage gains since May 2016. The BSE Sensex closed Friday’s trade 732.43 points or 2.15% higher at 34,733.58 points. The NSE Nifty closed at 10,472.50 points, up 237.85 points or 2.32%.

15:10 (IST)12 Oct 2018
Mutual funds raise stake in Infosys, TCS

With the stock markets remaining highly choppy in the last six months, benchmark outperformers Infosys and TCS have gained the favour of mutual fund managers. Notably, while the Sensex has given negative returns in the last 6 month period, TCS shares have returned more than 32% in since April this year. Mutual funds have raised their stake in the firm.

Also read: Amid larger stock rout, outperformers Infosys, TCS shares gain favour of mutual fund managers

14:50 (IST)12 Oct 2018
Global Markets UPDATE: World shares bounce after rout, set for worst week since February

Global shares were having their best day in nearly a month on Friday as European and Asian markets recovered from a brutal selloff that still left them set for their worst week since February, said a Reuters report. After a partial recovery in Asian shares overnight, European stocks opened higher, with the pan-European STOXX 600 up 0.9% on the day. Germany’s DAX up 1.1% while Britain’s FTSE 100 gained 0.4%. S&P stock futures pointed to a rebound in U.S. stocks later in the day, while the VIX volatility index climbed down from an eight-month high. The MSCI All-Country World index, which tracks shares in 47 countries, was up half a percent on the day.

14:40 (IST)12 Oct 2018
Q2 result UPDATE: Karnataka Bank net profit up 19.9%
  • Net profit up 19.9% atv Rs 111.86 crore
  • NII up 6.2%
  • Gross NPA up 4.66% at Rs 2371.62 crore
  • Net NPA at 3% vs previous quarter’s 3.04%

Shares of Allahabad Bank traded 0.81% lower at Rs 97.55 per share on the BSE.

14:28 (IST)12 Oct 2018
After BSE, NSE launches Commodity Derivatives Segment today

The National Stock Exchange of India Ltd (NSE) on Friday launched the commodity derivatives segment. “To start with, we will focus on key non-agri commodities and gradually broaden our product offerings to agri commodities,” the stock exchange said in a statement. To begin with, commodity futures contracts on Gold (1 Kg), Gold Mini (100 gms) and Silver (30 Kg) will be available for trading on the NSE. India’s BSE had on October 1, 2018 already commenced trading in gold and silver contracts. BSE Gold Contracts had witnessed a turnover of ₹191.41 Crore in the first week of trading.

14:15 (IST)12 Oct 2018
BSE live: Sensex soars 800 points, TCS only loser

The BSE Sensex extended gains and jumped over 800 points to an intra-day high of 34,807.22 points intra-day. Most auto, banking, metals and energy stocks led the gains. TCS was the only Sensex loser, which fell nearly 4%.

13:58 (IST)12 Oct 2018
Dollar pares losses as equity sell-off eases

The dollar crept up on Friday, reflecting investor confidence in the U.S. economy, despite criticism by President Donald Trump of the Federal Reserve and a sell-off in U.S. equities, said a Reuters report. Concern about a trade war between the United States and China and expectations interest rates will rise further in coming months have underpinned the dollar’s 2.5% rise since July. But a drop in U.S. Treasury bond yields and weaker-than-forecast rise in U.S. consumer prices saw the dollar shed half a percent on Thursday as traders cut their bets on Federal Reserve rate hikes. The dollar index, a gauge of its value against six major currencies, traded flat at 95 on Friday, down from its monthly high of 96.15 on Tuesday.

12:35 (IST)12 Oct 2018
Commodity UPDATE: Oil jumps more than 1% after 2-day fall, still set for weekly drop
    • U.S., Brent crude set for first weekly drop in five weeks

Crude prices jumped 1% on Friday, rebounding after two days of heavy declines with support from robust Chinese crude imports, but oil was still heading for its first weekly drop in five weeks, said a Reuters report. Brent crude futures had risen $1.02 cents, or 1.3%, to $81.28 a barrel by 0637 GMT. The contract dropped 3.4% on Thursday following sharp falls in equity markets and indications that supply concerns have been overblown. Brent is still on course for a 3.4% decline this week, the biggest drop in about four months. U.S. West Texas Intermediate (WTI) crude futures were up 80 cents, or 1.1%, at $71.77 a barrel, after a 3% fall in the previous session. WTI is on track for a 3.5% drop this week.

12:28 (IST)12 Oct 2018
What are the key factors a company raising IPO funds must keep in mind?

Dara Kalyaniwala, Vice President, Investment Banking, Prabhudas Lilladher shares key factors that companies must consider while going for an IPO in an exclusive interview with FE Online.

    • Do not think that IPO funds are coming for “free” and that the Company is not answerable. Equity funds are expensive as compared to debt.
    • Raise funds only to the extent required with 5% extra for contingencies.
    • Expect to do the IPO at a fair valuation; do not do an IPO at inflated valuations to extract the last rupee from the investors.
    • Maximum portion of IPO Funds should be used for identified projects or to repay debt or for working capital.
    • Do not raise more than 5-7% of funds even though the present SEBI regulations permit a Company to raise upto 25% for “General Corporate Purposes”; which basically refers to funds being raised for unidentified purposes at the time of the IPO.
    • Appoint a good team of Investment Bank; Legal Advisor and Auditor.
    • Do not cut corners while negotiating fees.
    • Do not appoint an Investment Bank purely on the basis of whoever is giving the highest valuation for the Company.

Read the full interview here: Volatile stock market must not derail your listing plan; key things to consider while filing for IPO

12:24 (IST)12 Oct 2018
NSE Live! Check the top gainers and losers

The NSE Nifty rebounded on Friday and rose over 200 points in trade, led by gains in most banking, auto, media, realty and FMCG stocks. Bajaj Finance led the pack of gainers on the NSE, while TCS, HCL Tech and Wipro were the only losers in Friday’s trade deals.

11:34 (IST)12 Oct 2018
Sector UPDATE: Oil & gas stocks gain for second day; BPCL up over 5%

Oil and gas stocks continued their gains for the second consecutive day on Friday on lower crude oil prices. Although crude prices rebounded from their two-week lows and jumped 1% on Friday, oil was still headed for its first weekly decline in five weeks said a Reuters report. Reliance Industries gained over 3% during late-morning trade deals. BPCL shares traded over 5% higher.

11:22 (IST)12 Oct 2018
NSE live! Nifty private bank index up; Yes Bank tops

The Nifty Private Bank index traded higher, with shares of Yes Bank rising over 4.18%. The Nifty Bank index also traded higher by over 2% on the NSE. Meanwhile, The NSE Nifty index was trading 209 points or 2.04% higher at 10,443.65 points.

11:03 (IST)12 Oct 2018
Commodity UPDATE: Gold slips, but hovers near 10-week high

Gold prices edged lower on Friday, but held near a more than 10-week high hit in the previous session when the metal breached a key resistance level, stoking optimism about an uptick in prices, said a Reuters report. Spot gold was down 0.3% at $1,219.67 an ounce, as of 0428 GMT, after the bullion jumped about 2.5% on Thursday, its sharpest gain since June 2016, as a rout in equities sent investors rushing to safe havens. U.S. gold futures were down 0.4% at $1,223.20 an ounce

11:01 (IST)12 Oct 2018
Yes Bank shares rally 6%

Shares of India’s major private sector lender Yes Bank surged by over 6% during early morning trade on Friday after the firm announced that it has appointed headhunter Kon Ferry to assist in finding CEO Rana Kapoor’s successor. Yes Bank shares zoomed more than 6% to hit an intra-day high of Rs 254.60 per share on the BSE.

Also read: Yes Bank shares rally 6% after headhunter Kon Ferry’s appointment to assist in finding Rana Kapoor’s successor

10:58 (IST)12 Oct 2018
Bank of Baroda shares gain 4% after CEO gets extension

Bank of Baroda shares gained 4% to an intra-day high of Rs 97.75 on the NSE after the term of MD and CEO S. Jayakumar was extended by one year. Bank of Baroda’s Managing Director and Chief Executive Officer P S Jayakumar was Thursday given one-year extension, an order issued by the Personnel Ministry said on Thursday. BoB shares are down nearly 42 % this year as of last close.

10:44 (IST)12 Oct 2018
Rupee extends gains; recovers 90 paise from record low at 74.48/$

The rupee gained over 50 paise against the dollar and scaled an intra-day high of 73.5875/$ during mid-morning trade on Friday. At this level, the domestic currency has recovered nearly 90 paise against the American currency from its record low at 74.4825/$. In opening trade, the rupee had recovered 33 paise against the greenback from its previous close at 74.1250 vs the US dollar, Bloomberg data showed.

10:39 (IST)12 Oct 2018
Share market update: Mid and small-caps join upward rally, up 2% each

The broader markets joined the upward rally of the headline indices on Friday and gained over 2% during mid-morning trade deals. The S&P BSE mid-cap and small-cap i0ndices gained over 2% each. Adani Power led the gains in the mid-cap index, while OnMobile was the top gainer on the BSE small-cap index.

10:35 (IST)12 Oct 2018
Sector UPDATE: Auto stocks gain; M&M gains over 4%

The Nifty auto index gained over 3% on Friday, with shares of M&M, Ashok Leyland, Maruti Suzuki and Apollo Tyres gaining over 4% each. Market sentiment was bullish on Friday, led by gains in auto, banks, realty and metal stocks.

10:21 (IST)12 Oct 2018
GLOBAL MARKETS update: Asia shares bounce after rout, but sentiment fragile

Asian shares found a slightly firmer footing on Friday to set course for their first gains in two weeks, but the rout continued in Shanghai where shares hit lows last seen in 2014, said a Reuters report. Investor sentiment was frail though as Wall Street’s fear gauge rose to an eight-month high, pointing to more downside risk, market sources said. The biggest market shakeout since February has been blamed on a series of factors, including worries about the impact of a Sino-U.S. trade war, a spike in U.S. bond yields this week and caution ahead of earnings seasons. the report said.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1.3%, led by gains in South Korea and Taiwan. The MSCI index fell 3.6% on Thursday to hit a 1-and-a-1/2 year low. It is on track for a weekly loss of more than 4%. Japan’s Nikkei average fell 0.5% while the Shanghai Composite dropped as much as 1.8% to the lowest levels since late 2014, taking losses so far this week to almost 10%.

10:11 (IST)12 Oct 2018
BSE Live! Sensex soars over 600 points; banks, auto stocks lead gains

The BSE Sensex soared over 600 points during morning trade deals on Friday led by gains in auto, realty, banks and metal stocks. The Sensex climbed 639 points to an intra-day high of 34,654.79 points.

10:06 (IST)12 Oct 2018
Nifty Live! PSU Banks stocks gain; PNB up 4%

PSU banks stocks gained on Friday as the Indian stock market rebounded from Thursday’s lows. Shares of Punjab National Bank gained over 4% during morning trade, followed by Canara Bank, Central Bank, Bank of India and Vijaya Bank. SBI shares traded over 1% higher.

09:59 (IST)12 Oct 2018
HUL Q2 results today; shares rise over 2% in early trade

HUL share price rose over 2% during early morning trade deals on Friday. The company is expected to declare its corporate results for the second quarter ended September 2018 today.  HUL shares 2.48% to an intra-day high of Rs 1,566 on the BSE in early morning trade.

09:52 (IST)12 Oct 2018
NSE live! Check out the most traded stocks today

Adani Power was the most traded stock by volume during the first half an hour of trade on Friday, followed by RCom, Suzlon, Yes Bank, JP Associates and Sail. Check out the other most traded stocks on the NSE:

09:47 (IST)12 Oct 2018
Rupee strengthens 38 paise against US dollar

The rupee on Friday strengthened 38 paise to 73.74 against the US dollar in early trade in the forex market after global crude prices eased. Besides, dollar-selling by exporters and banks, the greenback’s weakness against some currencies overseas, helped the recovery in the domestic currency, said a PTI report. Brent crude fell 3% to trade at 80.37 a barrel in the global market. Forex dealers said a higher opening in the equity market also supported the rupee’s sentiment. The local unit, after hitting a record low of 74.50 Thursday, recovered 9 paise to end at 74.12 against the dollar.

09:42 (IST)12 Oct 2018
Sector UPDATE: IT stocks mixed as rupee recovers; TCS shares drop over 2%

TCS shares dropped 2.76% to a low of Rs 1,925 on the BSE in early morning trade deals on Friday. IT stocks were mixed on Friday as the rupee recovered against the dollar. TCS had on Thursday reported a 22.6% jump in consolidated net profit at Rs 7,901 crore in the July-September 2018 quarter. The Tata group company saw a revenue growth of 20.7% at Rs 36,854 crore in the September quarter, up from Rs 30,541 crore a year ago.

Also read: TCS share price target revised after strong Q2 results; what brokerages say

09:35 (IST)12 Oct 2018
NSE live: All Nifty indices in green barring IT sector

The NSE Nifty opened above the 10,300 level and scaled a high of 10,398.55 points in early morning trade deals on Friday. All the sectoral indices on the NSE were trading with gains barring the IT index. IT stocks slipped as the rupee recovered over 33 paise to 73.7950 against the dollar in opening trade today.

09:25 (IST)12 Oct 2018
OPENING BELL: Sensex jumps 300 points, Nifty opens above 10,300

The BSE Sensex shrugged off its Friday’s losses and jumped over 300 points in opening trade on Friday. The Nifty opened firmly above the 10,300-level. Yes Bank shares climbed nearly 6% in early morning deals, while TCS shares traded lower.

09:15 (IST)12 Oct 2018
Lingering issue for the markets will be the actions from US president Trump — HDFC Securities

While our markets have tumbled over 6% in the month of October, and 16% from the all time highs, there is still hope as the Nifty managed to close above the 10,200 mark at 10,234 after breaking the 10,198 level in intraday trade. While the US markets have tumbled again we believe we may not be impacted much as the Jigsaw puzzle is finally falling into space. The WTI Crude has fallen 3% yesterday. And the Rupee has appreciated after making a bottom yesterday. We expect the Rupee to open around 25 paisa stronger. Crude does not fall in a straight line. It will rise also. But eventually it should move lower. A monthly report from the Organization of the Petroleum Exporting Countries released Thursday, revealed a rise in OPEC and Russian crude-oil production in September, more than making up for a continuing decline in Iranian output ahead of the implementation of U.S. sanctions on Iran’s oil industry.

The lingering issue for the markets will be the actions from US president Trump. His remarks on sanctions on India on buying weapons from Russia, progress on trade war with China will keep traders on the tenterhooks. Remain with industry leaders, zero debt and high growth companies. Start an SIP there you will then not be disturbed in case the markets surprise you on the lower side. While we are not out of the woods as yet, I think we are beginning to see semblance of a footpath. Technically we need to ensure that we do not close below the level of 10,140.

— HDFC Securities morning note

09:14 (IST)12 Oct 2018
Stocks in focus today: Yes Bank, HUL, TCS

Yes Bank: Yes Bank has appointed US-based headhunter Korn Ferry to assist an expert panel searching for a successor to outgoing MD and CEO Rana Kapoor.

HUL: Hindustan Unilever, Karnataka Bank, and Tata Sponge Iron will declare their second-quarter results today.

TCS: Tata Consultancy Services (TCS) reported a double-digit annual rise in its revenue for the September quarter, which it expects to maintain for the rest of the year.

RNAM: Reliance Nippon Life Asset Management (RNAM) said it has received mandate from Employees’ State Insurance Corporation to manage its funds.

GM Breweries: Profit rose to Rs 19.4 crore vs. Rs 15.7 crore; revenue increased to Rs 413.6 crore vs. Rs 384.8 crore (YoY).

09:09 (IST)12 Oct 2018
PRE-OPEN: Sensex jumps over 250 points, Rupee opens higher at 73.7950/$

The BSE Sensex jumped over 250 points in the pre-open session on Friday. The Indian rupee opened 33 paise higher at 73.7950 against the US dollar.

Share market on Thursday: The BSE Sensex closed Thursday’s trade nearly 760 points lower at 34,001.15 points, while the NSE Nifty ended 225 points lower. Yes Bank was the only gainer on the Nifty bank index. Oil marketing companies gained, while financials, IT, metal stocks dragged the indices lower.

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