Share market HIGHLIGHTS: Sensex, Nifty end with nominal losses; IT, pharma worst performers; HPCL up 4%

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Updated:Nov 14, 2018 4:53:27 pm

Share market highlights: BSE Sensex ended Wednesday's trade with nominal losses, while NSE Nifty 50 closed above the 10,550-level. IT, pharma and realty sectors were the worst performers on the domestic bourses, while oil marketing companies extended gains on crude oil prices slump.

Sensex live, Stock Market Live Updates, Indian Stock markets, BSE, NSEShare market LIVE: Track Sensex, Nifty LIVE updates here

Stock market highlights: Sensex and Nifty — the benchmark equity indices of the domestic stock markets — ended Wednesday’s trade on a flat note with marginal losses weighed down by heavy selling pressure in IT, pharma, realty, auto and metals stocks. However, oil marketing companies and aviation stocks extended gains on crude oil prices slump.

BSE Sensex ended Wednesday’s trade with nominal losses, down 2.50 points or 0.01% at 35,141.99 points. The market breadth was bearish, as 1,393 stocks declined as compared to 1,203 advances. However, mid-cap stocks outperformed on stock-specific buying on the basis of quarterly corporate earnings and decline in crude oil prices, said market observers. The S&P BSE mid-cap index closed Wednesday’s trade higher by 0.19%. The NSE Nifty ended 6.20 points or 0.06% lower at 10,576.30 points.

The stock market had started on a higher note riding on a strong rupee, falling crude prices and healthy buying in blue-chip stocks. The Sensex opened over 120 points higher, while the NSE Nifty 50 opened above the 10,600-level. The rupee opened at 72.1575 per US dollar, appreciating 51 paise from its previous close at 72.6725 against the greenback.

In the global markets, Asian shares edged lower as investors fretted about slowing global growth with crude oil prices sinking on worries about weakening world demand and oversupply, said a Reuters report. Oil prices struggled for traction on Wednesday after sinking on worries about weakening world demand and oversupply, while global shares sagged with slowing growth concerns overshadowing potential positives such as progress in the Brexit saga.

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Highlights

    16:53 (IST)14 Nov 2018
    Stock-picks by Epic Research

    F-CONSUMER: Stock outperformed well with volume breakout and closed near today’s high it also gave closing above the 200 EMA on the daily chart. The RSI also looking strong on the daily chart. We recommend buying above the 53 level for the target of 54 with the stop loss of 52.

    CADILAHC: Stock has given the breakout of ascending triangle on the closing basis on the daily chart and closed near today’s high. It also maintained itself above the 200 EMA on the hourly chart. We recommend buying around the 370 level for the target of 375 with the stop loss of 365.

    BANKBARODA: Stock is consolidating from past a few trading sessions and today performed well good volumes. It also formed the flag pattern on the daily chart. We recommend buying above the 114 level for the target of 116 with the stop loss of 112.

    -- Mustafa Nadeem, CEO, Epic Research

    (Disclaimer: Views and recommendations are the brokerage firms’ own and do not represent those of www.financialexpress.com. Please consult your financial adviser before taking any position in the stock (s) mentioned.)

    16:34 (IST)14 Nov 2018
    Viewpoint: Sharp selling was seen in IT & healthcare stocks, while buying interest was seen in PSU banking and FMCG stocks

    Stock markets in India traded on a benign note today as mixed macro-economic cues precluded the emergence of a strong trend. Additionally, weak global markets put pressure on bourses. On the macro-economic front, the annual rate of inflation, based on monthly Wholesale Price Index (WPI), stood at 5.28% (provisional) for the month of October 2018 (over October 2017) as compared to 5.13% (provisional) for the previous month and 3.68% during the corresponding month of the previous year. In the global commodities market, Brent for January 2019 settlement was down 26 cents at $65.21 a barrel. The contract fell $4.65 a barrel or 6.63% to settle at $65.47 a barrel during the previous trading session. A fall in crude prices could augur well for the Indian economy considering that India imports a majority of its crude requirements. On the sectoral front, sharp selling was seen in IT and healthcare stocks, while buying interest was seen in PSU banking and FMCG stocks.

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

    16:19 (IST)14 Nov 2018
    Viewpoint: Stock specific buying, oil prices decline supported midcaps to outperform

    Market was volatile despite fall in oil prices & appreciation in rupee as concerns about domestic liquidity and weak global cues overrode the sentiment. Oil prices shred to $65/barrel and will ease concerns on current account deficit. IT & pharma indices witnessed selling pressure due to stronger rupee while stock specific buying on the basis of quarter results and decline in oil prices supported midcaps to outperform.

    -- Vinod Nair, Head of Research, Geojit Financial Services Ltd

    15:55 (IST)14 Nov 2018
    Central Bank of India Q2 net loss widens to Rs 924 crore

    State-owned Central Bank of India reported widening of net loss to Rs 923.60 crore in the second quarter ended September 30, due to mounting bad loans and falling core income. However, the loss narrowed from Rs 1,522.24 crore reported in the June quarter, it said in a regulatory filing. Total income also fell to Rs 6,197 crore in the quarter, from Rs 6,896.26 crore a year ago. The bank's interest income fell to Rs 5,685.05 crore in July-September, from Rs 6,166.06 crore in the year-ago period. The lender's asset quality worsened year-on-year, as gross non-performing assets (NPAs) spiked to 21.48% of the gross advances as at September-end as compared with 17.27% by the end of the same month in 2017. Net NPAs also ballooned to 10.36% of the net advances, against 9.53% a year ago.

    15:49 (IST)14 Nov 2018
    Global markets update: Oil seeks floor, stocks tumble, sterling braces for wild swings

    Oil struggled to find a floor and stocks tumbled on Wednesday as disappointing German GDP figures heightened worries over slowing global growth, while the pound eased off peaks as Prime Minister Theresa May faced the hard task of selling her Brexit deal, said a Reuters report. European shares fell as much as 1.2% after data showed the German economy contracted for the first time since 2015, tracking similar losses in Asia where data in Japan and China underscored worries about weaker growth. Sterling steadied just below a 7-month high versus the euro and remained close to $1.30 after Britain and the European Union agreed on the text of a Brexit divorce deal.

    15:45 (IST)14 Nov 2018
    NSE live! top 5 Nifty gainers and losers

    The NSE Nifty closed Wednesday's trade 6.20 points or 0.06% lower at 10,576.30 points. check out the top 5 gainers and losers on the Nifty here:

    15:43 (IST)14 Nov 2018
    CLOSING BELL: Sensex, Nifty end with nominal losses; IT, pharma worst performers

    BSE Sensex ended Wednesday’s trade with nominal losses, while NSE Nifty 50 closed above the 10,550-level. IT, pharma and realty sectors were the worst performers on the domestic bourses, while oil marketing companies extended gains on crude oil prices slump. ICICI Bank shares hit fresh 52-week high on Wednesday. Check out the top Sensex gainers and losers here:

    15:07 (IST)14 Nov 2018
    IDBI Bank posts 8th straight quarterly loss

    IDBI Bank Ltd posted its eighth straight quarterly loss on Wednesday, as the state-run lender set aside more funds for bad loans, Reuters reported. Net loss was Rs 3,602 crore for the three months ended September 30, compared with a loss of Rs 198 crore a year earlier. This is the bank's longest streak of quarterly losses since at least 2005. IDBI Bank shares traded 0.58% higher at Rs 60.25 per share on the BSE.

    14:51 (IST)14 Nov 2018
    SpiceJet Q2 net loss at Rs 389.37 crore

    Low-cost carrier SpiceJet Ltd reported a standalone net loss of Rs 389.37 crore in the second quarter ended September 30, impacted by high fuel costs and rupee depreciation. The company had posted a net profit of Rs 105.27 crore in the same quarter last fiscal, Spicejet said in a regulatory filing. Net income from operations during the quarter under review stood at Rs 1,848.28 crore. It was at Rs 1,794.57 crore in the corresponding period of the previous fiscal. Total expenses during the second quarter were at Rs 2,299.67 crore as against Rs 1,736.7 crore in the year-ago period. SpiceJet shares were trading 4.05% higher at Rs 84.70 per share on the BSE.

    14:46 (IST)14 Nov 2018
    Pfizer Q2 net profit falls 14% to Rs 95.8 crore

    Drug firm Pfizer Wednesday reported a 13.81% dip in standalone net profit to Rs 95.8 crore for the quarter ended September 2018. The company had posted a net profit of Rs 111.15 crore for the corresponding period of the previous fiscal. Revenue from operations of the company stood at Rs 519.74 crore in the quarter under review, Pfizer said in a filing to BSE. Shares of the company were trading 1.16% lower at Rs 2,828.45 per share on the BSE.

    14:42 (IST)14 Nov 2018
    M&M Q2 PAT rises 23.87% to Rs 1,649.46 crore

    Homegrown auto major Mahindra & Mahindra Wednesday reported 23.87% jump in standalone profit after tax at Rs 1,649.46 crore for the second quarter ended September 30. The company had posted standalone net profit of Rs 1,331.57 crore in the same quarter last fiscal, M&M said in a regulatory filing.Total income during the period under review stood at Rs 13,834.87 crore. It was at Rs 12,745.49 crore in the year-ago quarter. M&M shares were trading 2.30% lower at Rs 772.95 per share.

    12:57 (IST)14 Nov 2018
    Gold futures weaken by Rs 86/ 10 grams

    Gold prices were down by Rs 86 to Rs 30,960 per 10 grams in futures trade Wednesday as speculators reduced exposure despite a firm trend in the precious metal overseas, said a PTI report. At the Multi Commodity Exchange, gold for delivery in far-month February traded lower by Rs 86, or 0.28%, to Rs 30,960 per 10 grams in a business turnover of 11 lots. The gold for delivery in December, too, fell by Rs 84, or 0.27% to Rs 30,685 per 10 grams in 172 lots. Marketmen said the fall in gold prices at futures trade was mostly due to trimming of positions by participants. Globally, the gold was trading a shade higher at USD 1,203.20 an ounce in Singapore.

    12:54 (IST)14 Nov 2018
    Oil suffers worst drop since February 2016

    US oil crashed to a one-year low on Wednesday, slumping nearly 7%. Oil witnessed the worst crash since February 2016. Following the slump, rupee appreciated to a 8-week high, rising beyond the 72 per dollar mark for the first time since September 21.  Indian rupee rose to its highest since September 21, while the 10-year bond yield fell to lowest since August 2.

    12:36 (IST)14 Nov 2018
    India's Oct WPI inflation accelerates to 5.28% y-o-y

    WPI inflation climbed to a four-month high of 5.28%in October, up from 5.13% in September, official data showed today. According to data on Monday, retail inflation was recorded at a 13-month low of 3.31% in October. Data released today showed that the wholesale inflation stood at 3.68% in October last year. The upward trajectory was noted mainly due to a spike in petrol and diesel prices, even as food prices softened.

    12:32 (IST)14 Nov 2018
    Motherson Sumi Q2 profit falls 17% to Rs 495 crore

    Motherson Sumi Systems Ltd (MSSL) Wednesday reported 16.50% decline in consolidated net profit at Rs 495.48 crore for the quarter ended September 30, 2018. The company had posted a net profit of Rs 593.45 crore during the same period of the previous fiscal. Total revenue from operations stood at Rs 15,104.97 crore during the period under review. It was Rs 13,420.43 crore in the same quarter last fiscal, MSSL said in a BSE filing. MSSL shares were trading at Rs 163.60 per share, down 1.56% on the BSE.

    11:57 (IST)14 Nov 2018
    Oil extends 7% slide as outlook darkens

    Oil markets fell again on Wednesday, extending losses from a 7% plunge the previous session as surging supply and the spectre of faltering demand scared off investors, reported Reuters. U.S. West Texas Intermediate (WTI) crude oil futures were at $55.26 per barrel at 0600 GMT, down 43 cents, or 0.8%, from their last settlement. International benchmark Brent crude oil futures were down 36 cents, or 0.6%, at $65.11 per barrel. Crude oil has lost over a quarter of its value since early October in what has become one of the biggest declines since a price collapse in 2014.

    11:56 (IST)14 Nov 2018
    Sensex rises slightly, check out the top contributors

    The BSE Sensex had trimmed its early morning gains led by heavy selling pressure in IT, pharma, realty and media indices. However, the index recouped some losses to trade marginally higher at 35,228.92 points, up 84.43 points or 0.24% during the late morning deals. Check out the top index contributors here:

     

    11:40 (IST)14 Nov 2018
    Rupee appreciates, bond yields dip to lowest in three months as crude prices ease

    The Indian rupee and bonds gained in early trade on Wednesday, boosted by a fall in global oil prices and on the central bank’s announcement a day earlier that it would buy bonds via open market operations. Indian rupee rose to its highest since September 21, while the 10-year bond yield fell to lowest since August 2.  Local elections, central bank-govt rift to cap large gains, said dealers.

    Read the full story here: Rupee appreciates, bond yields dip to lowest in three months as crude prices ease

    11:23 (IST)14 Nov 2018
    ICICI Bank shares hit fresh high

    ICICI Bank shares hit a fresh 52-week high on Wednesday, surging to an intra-day high of Rs 366.60 per share. At the time of reporting, the bank's shares were trading 0.86% higher at Rs 364 per share on the BSE.

    10:50 (IST)14 Nov 2018
    Global markets update: Philippines, Indonesia gain as investors buy beaten-down stocks

    Philippine and Indonesian stock markets gained on Wednesday as investors picked up beaten-down stocks, though concerns over slowing global growth continued to dent sentiment in the region. Indonesian shares climbed 1%, driven by gains in materials and consumer staple stocks.

    10:20 (IST)14 Nov 2018
    Shares of Indian OMCs, airlines jump as crude prices falter

    Shares of Indian oil marketers Hindustan Petroleum Corp Ltd, Bharat Petroleum Corp Ltd, and Indian Oil Corp Ltd jumped up to 12.4% today as oil prices slumped. Oil markets struggled to find their footing on Wednesday after a 7% plunge in the previous session, with surging supply and the spectre of faltering demand keeping investors on edge, said a Reuters report. HPCL shares climbed 12.4% to its highest since September 24 and emerged as the top gainer on the NSE index. IOC rose 10%, marking its sharpest intraday percentage jump since August 4, 2017.

    Aviation stocks also climbed, with Interglobe Aviation Ltd rising 6.6% to an 11-week high, while Jet Airways (India) Ltd edged higher by 3.7%. Spicejet shares advanced 5% ahead of its quarterly results.

    10:12 (IST)14 Nov 2018
    Sector update: PSU banks in green

    The Nifty PSU bank index traded with gains during the mid-morning trade deals on Wednesday, led by Central Bank of India, Bank of Baroda, Bank of India and Union Bank of India shares. SBI shares were trading 0.8% higher.

    09:46 (IST)14 Nov 2018
    Sector update: IT index in red as rupee appreciates; Infosys, TCS down up to 2%

    The Nifty IT index traded in the red on Wednesday after the rupee appreciated on the back of a weak US dollar and slump in crude oil prices. Infosys and TCS shares slipped up to 2% on the index.

    09:42 (IST)14 Nov 2018
    Zee Entertainment Enterprises shares fall 3% after stake sale reports

    Zee Entertainment Enterprises shares dipped over 3% to a low of Rs 420.30 per share on Wednesday. The company on Tuesday said its promoters led by Subhash Chandra plan to sell up to 50% of their equity stake in the company to a strategic partner. The move is expected to address the Essel Group's (the promoters) capital allocation priorities and "to pursue disruptive technological development and transform the business into tech-media company".

    09:36 (IST)14 Nov 2018
    Q2 IMPACT: Ashok Leyland plunges 8%

    Shares of Ashok Leyland plunged over 8% to a low of Rs 109.05 per share on the BSE today. The Hinduja Group flagship on Tuesday had reported 37.49% jump in standalone net profit at Rs 459.57 crore for the September quarter fuelled by higher revenue. ON the same day, the company's Chief Executive Officer and Managing Director Vinod K Dasari quit citing personal reasons and the company board accepted his resignation, PTI reported citing a top official said Tuesday.

    09:32 (IST)14 Nov 2018
    NSE live! Check out the most traded stocks

    The Indian equity markets started on a strong note on Wednesday, with the Nifty 50 opening above the 10,600-mark. Minutes into trading, the Nifty rose by 67.95 points or 0.64% to 10,650.45 points. Ashik Leyland emerged as the most traded stock on the NSE in the first 15 minutes of trade today. Check out the other stocks here:

    09:28 (IST)14 Nov 2018
    Which stock is the most consistent wealth creator in last 10 years?

    Rakesh Jhunjhunwala’s favorite stock has emerged as the ‘Most Consistent Wealth creator,’ according to a study. Rakesh Jhunjhunwala holds about 7.12% stake in the firm or 6.32 crore shares as at the end of the September quarter. At today’s closing price, his stake in the firm amounts to about Rs 5,674 crore. According to Motilal Oswal’s 23rd Wealth Creation study, this stock is the Most Consistent Wealth Creator in the last 5 years, recording a price CAGR of 33% in the period between 2008-2018.

    Which is the stock? Find out here: Rakesh Jhunjhunwala’s favorite stock emerges as most consistent wealth creator in last 10 years; check top 10

    09:26 (IST)14 Nov 2018
    Q2 UPDATE: Sun Pharma shares fall nearly 3%

    Shares of Sun Pharma slipped nearly 3% to a low of Rs 545.10 per share on the BSE in opening trade today. The drug major on Tuesday reported a consolidated net loss of Rs 218.82 crore for the July-September quarter on account of a Rs 1,214-crore provision for the settlement of the Modafinil antitrust case in the US. The company had posted a net profit of Rs 912.12 crore for the corresponding period of the previous fiscal, Sun Pharmaceutical Industries said in a BSE filing.

    09:26 (IST)14 Nov 2018
    Q2 UPDATE: Sun Pharma shares fall nearly 3%

    Shares of Sun Pharma slipped nearly 3% to a low of Rs 545.10 per share on the BSE in opening trade today. The drug major on Tuesday reported a consolidated net loss of Rs 218.82 crore for the July-September quarter on account of a Rs 1,214-crore provision for the settlement of the Modafinil antitrust case in the US. The company had posted a net profit of Rs 912.12 crore for the corresponding period of the previous fiscal, Sun Pharmaceutical Industries said in a BSE filing.

    09:21 (IST)14 Nov 2018
    OPENING BELL: Sensex surges 120 pts, Nifty opens above 10,600 on strong rupee; Sun Pharma down 2%

    The BSE Sensex and NSE Nifty started on a strong note on Wednesday tracking a strong rupee, falling crude prices and healthy buying in blue-chip stocks. The Sensex opened over 120 points higher, while the NSE Nifty 50 opened above the 10,600-level. The rupee opened at 72.1575 per US dollar, appreciating 51 paise from its previous close at 72.6725 against the greenback. 

    09:14 (IST)14 Nov 2018
    Rupee appreciates to 72/$ for first time since September 21

    Buoyed by a slump in crude prices and weakness in the US dollar, the rupee appreciated beyond the 72 per dollar mark for the first time since September 21. The rupee opened at 72.1575 per US dollar, appreciating 51 paise from its previous close at 72.6725 against the greenback. The dollar index, which measures the greenback's strength against six major currencies, slipped overnight to 97.303, U.S. crude futures dived 7 percent the previous day, suffering their biggest one-day loss in more than three years. Following the rise in the rupee, 10-year bond yield fell to its lowest level since August 2.

    09:10 (IST)14 Nov 2018
    Aussie shares fall as resource stocks plunge; NZ flat

    Australian shares traded lower on Wednesday as resource-based stocks dropped after oil prices dived on worries of oversupply and slowing global demand. Crude prices dropped 7 percent, extending Tuesday’s fall, triggered when U.S. President Donald Trump condemned planned oil output cuts by the Organization of the Petroleum Exporting Countries.

    Read more: Aussie shares fall as resource stocks plunge; NZ flat

    09:05 (IST)14 Nov 2018
    PRE-OPEN: Sensex surges 250 points, rupee opens at 72.16/$

    The BSE Sensex started on a strong note and surged over 250 points in the pre-open session on Wednesday. The rupee opened at 72.1575 per US dollar, appreciating 51 paise from its previous close at 72.6725 against the greenback.

    09:01 (IST)14 Nov 2018
    Oil prices tumble

    Oil prices have fallen sharply since passing a cyclical peak at the start of October, amid surging production and mounting concerns about the state of the global economy and the outlook for consumption growth in 2019, a Reuters report said. Front-month Brent futures prices have dropped by more than $17 per barrel (20 percent) over the last five weeks while WTI futures prices have declined for a record 11 days in a row.

    Also read: Oil prices tumble as traders look beyond Iran

    09:00 (IST)14 Nov 2018
    Asia stocks shaken by plunge in crude oil, growth worries

    Asian shares edged lower as investors fretted about slowing global growth with crude oil prices sinking on worries about weakening world demand and oversupply, said a Reuters report. U.S. crude futures dived 7 percent the previous day, suffering their biggest one-day loss in more than three years. The contracts last stood at $55.72 per barrel following a descent to $54.75 overnight, their lowest since November 2017. OPEC warned on Tuesday that a supply glut could emerge in 2019 as the world economy slows and rivals increase production more quickly than expected.

    Read here: Asia stocks shaken by plunge in crude oil, growth worries

    Share market on Tuesday: After opening negative on morning, the Sensex made a smart recovery on Tuesday afternoon, buoyed by a strong rally in bluechip stocks. The 30-share Sensex ended 331.5 points higher at 35,144.49 while the broader Nifty 50 ended above the 10,550-mark. In the Sensex, shares of RIL, Axis Bank, ICICI Bank, Tata Steel, L&T and M&M gained more than 1.4% each.
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