MARKET WRAP: Sensex rises for 5th day, ends 304 pts higher; Titan gains 4%

All that happened in the markets today

4:11 PM

MARKET COMMENT | Vinod Nair, Head of Research at Geojit Financial Services

"Observation is that the main indices have almost reached the last high, in context with a bounce in the global and domestic economy. Going ahead the market may turn a bit volatile, in the short-term, as it will be difficult to maintain the momentum given important upcoming events of the US election and Q2 result season. Secondary indices of mid and small caps are under some resistance, as investors are risk-averse at these levels. Stock wise positive or negative performance is expected to continue as per the expectation and actual performance of Q2FY21 result."

3:43 PM

SECTOR WATCH | Nifty Metal slips over 1.5%

3:42 PM

MARKET AT CLOSE | Gainers and losers on the S&P BSE Sensex

3:36 PM

CLOSING BELL

The S&P BSE Sensex climbed 304 points, or 0.77 per cent to settle at 39,879 while NSE's Nifty ended at 11,739, up 76 points, or 0.66 per cent.

3:26 PM

MARKET CHECK

3:17 PM

NEWS ALERT | Natural Gas marketing reforms approved by the Cabinet

>> Have approved standardised bidding process for gas prices, says Oil Minister;
>> Producers will have the choice to opt for the platform, says Minister

(as reported by CNBC-TV18)

3:16 PM

Sun Pharma slips nearly 2%

3:02 PM

Adarsh Hegde takes over as MD of Allcargo Logistics firm Gati-KWE

Allcargo Logistics today announced the appointment of Adarsh Hegde as the managing director of Gati-KWE, one of the key arms of the recently acquired Gati Ltd.

 

Gati-KWE is 70:30 joint venture between Gati Ltd and Kintetsu World Express (KWE) of Japan. Alongside, Hegde will continue to be the joint managing director of Allcargo Logistics. READ MORE

3:01 PM

Heatmap: S&P BSE Sensex gainers and losers at this hour

2:55 PM

Thyrocare, Dr Lal PathLabs: Healthcare stocks can rally more, charts show

Shares of healthcare services companies traded firm on Wednesday on the expectation of strong earnings in the July-September quarter (Q2FY21). Thyrocare Technologies, Metropolis Healthcare, and Dr. Lal PathLabs hit their respective record highs and were up 9 per cent to 17 per cent on the BSE in intra-day trade. In comparison, the S&P BSE Sensex traded 0.79 per cent higher at 39,887 levels in the afternoon deals. READ MORE

2:50 PM

Sector Watch :: Nifty Realty index slips around 2%

2:45 PM

BSE Smallcap index trades flat with a negative bias

2:40 PM

Vedanta tanks 15% on heavy volume; logs sharpest intra-day fall since March

At 02:17 pm, the stock was trading 9 per cent lower at Rs 125.65, as compared to 0.89 per cent rise in the S&P BSE Sensex. Trading volumes on the counter jumped over six-fold. Till 02:18 pm, a combined 91 million equity shares, representing 2.6 per cent of total equity of Vedanta, had changed hands on the NSE and BSE. READ MORE

2:31 PM

Oil India jumps around 7.5%

2:23 PM

MARKET CHECK

2:23 PM

Delisting woes: Vedanta slumps nearly 10%

2:15 PM

Decoded: Why Sebi wants to shorten trade settlement cycle to a day

The regulator wants to reduce the trading settlement cycle to the next day, or T+1. Sebi, in 2013, put out a discussion paper called ‘Risk Management--Safer Markets for Investors’ that discussed the feasibility of a shortened settlement cycle. The paper proposed to move to a T+1 settlement cycle, highlighting challenges in doing so. READ MORE

2:07 PM

Rupee Closing

Rupee ends at 73.32 per US dollar vs Tuesday's close of 73.45/$

2:00 PM

RIL and HDFC twins top contributors to Sensex's gain today

1:52 PM

BROKERAGE VIEW :: Indian economy needs structural fix, says UBS

>> The Indian economy had the worst contraction on record in the June quarter (-24% YoY) due to the pandemic and the ensuing mobility restrictions. The macro dynamics (job creation, debt sustainability) crucially hinge on India's ability to maintain and even boost its underlying potential growth.

>> We estimate India's potential growth slowed to 5.75-6.25% (from 7.1% estimated in 2017) due to a longer-than-expected disruption caused by the pandemic, balance sheet concerns faced by economic agents (the financial sector, corporates and households) and limited fiscal capacity to support growth. This implies difficult economic challenges for many years to come. That said, we believe the renewed focus on productivity- enhancing reforms and investments could help reduce the downside risks (towards sub-5%) emerging in India's medium-term growth outlook.

1:42 PM

Solara Active Pharma surges 19% on heavy volumes, hits record high

Global brokerage Macquarie Capital Securities, on October 6, initiated coverage on the stock with an 'Outperform' rating and a target price of Rs 2,064 in bull-case scenario. READ MORE

1:32 PM

Healthy returns for diagnostic players as business recovers

Diagnostic companies remain in the spotlight, with their business rebounding sharply after a weak June quarter (Q1) performance amid coronavirus-induced nationwide lockdowns. Thyrocare Technologies on Tuesday highlighted that after low revenues in Q1 it had bounced back in the September quarter to report very strong growth of 171 per cent over trailing quarters. This boosted Street sentiment and the stock surged over 28 per cent in two days. READ MORE

1:23 PM

Banks say govt interest waiver will add to costs, spark litigation

Indian bankers fear the government's decision to waive some interest payments on loans under a COVID-19 support plan will create unnecessary work for lenders and lead to more litigation, without providing much of a boost for the sagging economy. READ MORE

1:22 PM

European indices trade higher in early deals

1:12 PM

NEWS ALERT :: Union Ministers Prakash Javdekar, Piyush Goyal to address media on Cabinet Decisions at 3 pm today

1:10 PM

Reliance Industries vs DMart: Why UBS thinks RIL may emerge as the winner

A comparative study by UBS, however, indicates that Reliance Retail is likely to emerge as the sector leader, while its closest competitor Avenue Supermarts (DMart) might fail to capitalise on the digital opportunities arising from social distancing because of Covid-19. READ MORE

1:00 PM

Analysts expect muted YoY performance in Q2FY21 from India Inc

As the market gears up for Indic Inc to unveil its operational and financial performance for the second quarter of fiscal 2020-21 (Q2FY21) this week, most analysts expect a healthy rise in profit after tax (PAT) and revenue on a sequential basis. READ MORE 

12:54 PM

Sebi shields small investors from AT1 bonds, urges 'full discretion'

In a circular, the markets regulator said issuing AT1 bonds must be done compulsorily on the electronic book provider platform. More importantly, issuers and stock exchanges have to ensure that only qualified institutional buyers are issued these bonds. Further, the minimum allotment and trading lot size shall be Rs 1 crore. READ MORE

12:44 PM

Strong Q2 sales performance despite headwinds a positive trigger for Sobha

The stock of Bengaluru-based real estate major Sobha was up 10 per cent in trade on Tuesday, after the company reported a steady sales performance in the September quarter. Despite multiple headwinds for the realty space, the company reported 1 per cent year-on-year (YoY) increase in sales value to Rs 690 crore. READ MORE 

12:33 PM

Decoded: How Sebi's 'risk-o-meter' grading of MF schemes helps investors

The markets regulator, Securities and Exchange Board of India (Sebi), on Monday introduced fresh guidelines to determine the place of a mutual fund (MF) on its riskometer tool. Samie Modak explains the upgraded risk profile depiction system What is riskometer? In 2013, Sebi introduced the concept of ‘product labelling’ for the MF industry. READ MORE