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Markets close Muhurat trade in red; Sensex down 194 pts, Nifty below 10,150

During the year (Samvat 2073), benchmark indices, the S&P BSE Sensex and the Nifty 50 hit their respective all-time highs and gained around 16% and 18%, respectively

SI Reporter  |  New Delhi 

BSE, BSE building, BSE colourful

The benchmark indices kicked off  on a negative note with the Nifty50 settling below its crucial 10,150 mark on Muhurat trading day.  

Banking were the biggest losers with the Bank ending at 24,009, down 304 points. 

While the start to may have been negative, the market hit all-time high during as investors took all developments – geopolitical tensions between the United States (US) and Korea, monetary policies of various central banks, outcome of US presidential election at the global level and impact of demonetisation, goods and services tax (GST) rollout back home – in their stride.  

The S&P and the Nifty50 gained around 16% and 18%, respectively.  

Though analysts caution that are likely to remain volatile in Samvat 2074, strategies adopted by the global central banks; corporate earnings growth of India Inc; commodity prices, especially crude oil; and the progress on reforms and health of the economy are some of the key factors that will have a bearing on the overall market sentiment. 

That apart, market participants will also keep a tab on the state polls over the next one year, especially Gujarat.

7:44 PM

Market breadth
 
Market breadth, indicating the overall health of the market remained positive. On the BSE, 1,487 shares gained, 986 shares declined, while 111 remained unchanged.

7:42 PM Broader markets pare gains to end flat

In a volatile session, broader markets hit their respective all-time highs, but settled pared gains to settle flat. The BSE Smallcap index was up 0.1%, while the BSE Midcap index was down 0.2%. 

7:40 PM Markets at close

The S&P BSE Sensex ended at 32,389, down 194 points, while the broader Nifty50 closed at 10,146, down 64 points. 

7:29 PM Banking stocks lead losses; NIfty Bank down 1.5% at 32,950

banks
Source: NSE




7:15 PM Markets trade weak 

At 7:15 pm, the S&P BSE Sensex was trading at 32,362, down 221 points, while the broader Nifty50 was ruling at 10,183, down 27 points.

7:10 PM Bharti Airtel extends gains 

airtel

7:01 PM BSE Midcap, BSE Smallcap hit new highs 

The S&P Midcap index touched a high of 16,192.77 in early trade today, surpassing its previous high of 16,183.88 hit on September 20, 2017 in intra-day deal. The S&P BSE Smallcap index too hit a new high of 17,174.09, surpassing its previous high of 17,108.45 touched on Wednesday, October 18, 2017. READ FULL REPORT

6:54 PM Telecom stocks gain as Reliance Jio unveils new tariff plan


Bharti Airtel up over 1% at Rs 467

Idea Celular up 2% at Rs 90

6:51 PM

Indian equity markets may need to swallow a bitter pill: Sukumar Rajah
 
here has been much uncertainty surrounding India’s recent reforms and how they may impact the economy and stock market. Some observers have argued that the government’s move to remove cash from circulation to thwart corruption has been a failure. And, some say the implementation of the new Goods and Services Tax (GST) could be more disruptive than expected.
 
While it is still too early to be certain exactly how these reforms will play out, our belief is that over the longer term, comprehensive reforms should likely overhaul the current system and improve efficiency READ THE FULL ARTICLE HERE

6:50 PM Midcap index up 0.3% at 16,150 

midcap
Source: BSE

6:48 PM Smallcap index gains 0.6% 

small
Source: BSE

6:41 PM Sectoral trend 

sectors
Source: NSE

6:37 PM Sensex heatmap at open

heatmap
Source: BSE

6:37 PM Markets at open 


Index Current Pt. Change % Change
 
S&P BSE SENSEX 32,533.12 -51.23 -0.16
 
S&P BSE SENSEX 50 10,587.38 -10.91 -0.10
 
S&P BSE SENSEX Next 50 34,945.11 +55.52 +0.16
 
S&P BSE 100 10,606.16 -6.55 -0.06
 
S&P BSE MidCap 16,163.05 +47.07 +0.29


(Source: BSE)

6:35 PM Broader markets 

Broader markets remained little changed. The BSE Midcap and the BSE Smallcap indices were trading flat. 

6:33 PM Markets at open

At 6:32 pm, the S&P BSE Sensex was trading at 32574, down 9 points, while the broader Nifty50 was ruling at 10,210, down 23 points. 

6:30 PM Samvat 2073 saw record fund raising through the initial public offering (IPO) route. A total of 29 companies mopped up Rs 45,802 crore, surpassing Samvat 2066 (year 2010-11) when 64 companies had raisedRs 40,279 crore, data provided by Prime Database show. Samvat 2073 was dominated by several big-ticket offerings from the insurance companies, a sector which so far had little representation in the domestic market

6:28 PM

An eventful year for gold
 
Despite note ban and the implementation of GST, gold still managed to register higher demand over previous year CLICK HERE TO READ MORE


6:26 PM

ICICI Securities on markets and economy
 
Equity markets across DMs and EMs continued to hit new highs although EM bonds saw mixed performance last week. Volatility continued to be low, which shows that risk appetite is rising. Recent high-frequency data indicates that growth trajectory may not be as weak as it was made out to be post the below-expectation Q1 FY18 GDP growth of 5.7%. Although markets have reacted positively to the emerging reality, there is a palpable uncertainty around the near-term growth outlook for the Indian economy, which could manifest itself in the wake of incremental disappointing data around growth.
 
Post the recent market correction in Sep ’17, small-caps (+7.85%) and mid-caps (+ 4.95%) have outperformed large-cap stocks (+4.43%) despite large-cap valuation at a discount to mid-cap valuation. Our Q2 FY18 preview suggests that Nifty PAT could expand by ~11% YoY largely driven by  commodity and financial stocks. Amongst financials, retail lenders continue to register robust earnings growth while volatility is seen in the corporate lending segment. In the non-financial segment, auto (ex 2-wheelers), cement, telecom, pharma and IT are expected to put pressure on Q2FY18 earnings. Consumption-related sectors, industrials and utilities are expected to report growth in mid to high single digits

6:23 PM

Diwali 2017: Auto brands cash in on festive fever
 
Festivals are a time to celebrate and most brands use the occasion to present the best they have to consumers. India’s automotive market is no exception to the rule. Riding high on positive sentiment, auto brands are going all out to woo buyers this Diwali. As such the festive season contributes 30 per cent to annual sales of auto majors. While discounts, freebies and gold coins are not new marketing tactics, it is the amount of benefits that are striking this year READ MORE HERE

6:20 PM

RBI minutes suggest a pause in December
 
The minutes from the RBI’s 4 October policy meeting suggest that while Ravindra Dholakia and Michael Patra are likely to continue to vote for a cut and a pause, respectively, the response of the other four MPC members will depend on how well growth holds up. The next GDP print, for Q3 2017 – out on 30 November – will be important. 
 
Most real activity data thus far suggest the economy bottomed out in Q2 and GVA growth should rise close to the RBI’s projection of 6.4% in Q3 2017. CPI inflation is likely to moderate to ~3% in October, but as the drop is driven by food prices, while core inflation is likely to stay above 4% amid rising risks of a fiscal slip, we expect rates to stay unchanged in our baseline (75% probability), including at the next policy meeting on 6 December (with a 5-1 vote)
 
(Source: Nomura)

6:18 PM

G Chokkalingam, founder of Equinomics Research highlights near-term concerns
 
Many sectors (Pharma sales, even rupee revenue of IT, Construction, FMCG volume, etc.,) are still suffering from single digit growth syndrome; Gujarat Election –any surprise outcome could hit the markets; Some recovery in oil & steep rise in material prices on yoy basis to hit the margins of many companies; Many of our entrepreneurial clients frequently advise us to tilt towards cash (based on their business environment) while employee-investors remain bullish on the markets – this dichotomy in investment behaviours makes us to wonder; Some contract manufacturers command unbelievable premium on the markets over brand owners; IPOs with over 100 PEs also get phenomenal premiums on listing 

6:14 PM

Stocks to buy in Samvat 2074
 
Here is a compilation of the top stocks that leading research houses and brokerages have recommended for Samvat 2074 READ MORE HERE

6:13 PM

MARKET OUTLOOK FOR SAMVAT 2074
 
Despite the record run in the past year and challenges concerning the earnings growth, Indian equities look poised for another year of double-digit gains in Samvat 2074. According to experts, Indian equities are in a mid-cycle of sorts — where valuations are not cheap, but stocks have not quite hit a bubble territory. There is likely to be volatility going ahead, though, as the markets digest the impact of the government’s goods and services tax implementation on trade and supply chain READ THE FULL STORY HERE

6:11 PM

Samvat 2073: Market stays resilient amid multiple disruptions
 
As the market draws curtains to an eventful Samvat 2073 at an all-time high, the new one is likely to take it further into uncharted territory.
 
From the demonetisation drive that sought to curb the menace of black money in the economy to implementation of goods and services tax (GST) bill and a possible delay in the earnings of India Inc, the markets have taken the developments in their stride. At the global level, the surprise victory of Donald Trump in the US presidential election, geopolitical tensions and monetary policies of global central banks impacted sentiment. Yet, the Indian markets notched up gains of around 17% during Samvat 2073.
 
The market rally during this period has mostly been supported by domestic flows in the absence of a heavy investment by foreign institutional investors (FIIs), who withdrew over $4 billion (nearly Rs 26,000 crore) in just two months since August. During the same period, mutual funds (MFs) bought shares worth close to Rs 50,000 crore. CLICK HERE FOR MORE

6:09 PM Good evening. Welcome to Business Standard's live blog on markets. We welcome all our readers this evening to our special coverage on the markets during Muhurat trading. We wish you all a happy and prosperous Samvat 2074. Happy investing!

First Published: Thu, October 19 2017. 19:34 IST
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Markets close Muhurat trade in red; Sensex down 194 pts, Nifty below 10,150

During the year (Samvat 2073), benchmark indices, the S&P BSE Sensex and the Nifty 50 hit their respective all-time highs and gained around 16% and 18%, respectively

During the year (Samvat 2073), benchmark indices, the S&P BSE Sensex and the Nifty 50 hit their respective all-time highs and gained around 16% and 18%, respectively
The benchmark indices kicked off  on a negative note with the Nifty50 settling below its crucial 10,150 mark on Muhurat trading day.  

Banking were the biggest losers with the Bank ending at 24,009, down 304 points. 

While the start to may have been negative, the market hit all-time high during as investors took all developments – geopolitical tensions between the United States (US) and Korea, monetary policies of various central banks, outcome of US presidential election at the global level and impact of demonetisation, goods and services tax (GST) rollout back home – in their stride.  

The S&P and the Nifty50 gained around 16% and 18%, respectively.  

Though analysts caution that are likely to remain volatile in Samvat 2074, strategies adopted by the global central banks; corporate earnings growth of India Inc; commodity prices, especially crude oil; and the progress on reforms and health of the economy are some of the key factors that will have a bearing on the overall market sentiment. 

That apart, market participants will also keep a tab on the state polls over the next one year, especially Gujarat.

image
Business Standard
177 22

Markets close Muhurat trade in red; Sensex down 194 pts, Nifty below 10,150

During the year (Samvat 2073), benchmark indices, the S&P BSE Sensex and the Nifty 50 hit their respective all-time highs and gained around 16% and 18%, respectively

The benchmark indices kicked off  on a negative note with the Nifty50 settling below its crucial 10,150 mark on Muhurat trading day.  

Banking were the biggest losers with the Bank ending at 24,009, down 304 points. 

While the start to may have been negative, the market hit all-time high during as investors took all developments – geopolitical tensions between the United States (US) and Korea, monetary policies of various central banks, outcome of US presidential election at the global level and impact of demonetisation, goods and services tax (GST) rollout back home – in their stride.  

The S&P and the Nifty50 gained around 16% and 18%, respectively.  

Though analysts caution that are likely to remain volatile in Samvat 2074, strategies adopted by the global central banks; corporate earnings growth of India Inc; commodity prices, especially crude oil; and the progress on reforms and health of the economy are some of the key factors that will have a bearing on the overall market sentiment. 

That apart, market participants will also keep a tab on the state polls over the next one year, especially Gujarat.

image
Business Standard
177 22