Sensex ends 134 pts lower, Nifty settles at 11,505; Nifty Pharma jumps 5%

All that happened in the markets today

4:27 PM

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

"Indian benchmark indices, after trading in the green for most of the day, succumbed to a round of selling in the last hour of trading, to close the day on a flat note, with a slight negative bias. Global cues were mostly mixed after the US Fed Reserve failed to come out with an immediate stimulus measure and also due to a resurgence in virus infections in some countries. On a weekly basis, the benchmark indices closed flat, although it was characterised by high volatility, fluctuating between gains and losses."

 

WEEK AHEAD

"Markets have been trading with uncertainty and the clear lack of direction to either side was visible in this week’s trades. The worry was visible as investors would have cleared their positions heading into the weekend. Due to the lack of any fresh triggers for the market, the current uncertainty is expected to continue. But any news with regards to the border tensions with China, or global events can impact the markets on the downside. As such, investors need to be cautious and watch for news-specific movements."

3:43 PM

SECTOR WATCH | Nifty PSU Bank index slips over 1.6%

3:42 PM

MARKET AT CLOSE | Losers and gainers on the S&P BSE Sensex

3:36 PM

CLOSING BELL

The S&P BSE Sensex slipped 134 points, or 0.34 per cent to settle at 38,846 while NSE's Nifty ended at 11,505, down 11 points, or 0.11 per cent.

3:29 PM

Top 5 gainers on the BSE at this hour

3:23 PM

Bharti Airtel surges around 4%

3:14 PM

Sensex recovers from the day's low, still down over 100 pts

3:06 PM

Fall from intra-day high today

COMPANY	DAY'S HIGH(RS)	DAY'S LOW(RS)	LATEST(RS)	FALL(%)
STERLING & WILS.	239.00	217.10	219.90	-7.99
DISHMAN CARBOGEN	179.15	163.00	165.50	-7.62
INDOCO REMEDIES	289.90	266.85	269.20	-7.14
GLAXOSMI. PHARMA	1785.45	1661.25	1668.00	-6.58

3:05 PM

Nifty Bank index falls 2%; RBL, Bandhan, HDFC Bank down over 3%

Bandhan Bank, RBL Bank, HDFC Bank, and IDFC First Bank were down 3 per cent, while Federal Bank, State Bank of India (SBI), Punjab National Bank, and IndusInd Bank from the index were down in the range of 1 per cent to 2 per cent on the National Stock Exchange (NSE). READ MORE

2:58 PM

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

2:52 PM

Dr Reddy's reclaims spot as India's 2nd most valuable pharma company

At 02:17 pm, Dr Reddy's Labs market cap stood at Rs 90,348 crore, while that of Divi's Laboratories was Rs 89,119 crore, BSE data shows. Both these stocks hit their respective highs on Friday. Sun Pharma is the most valued listed company of India with market cap of Rs 1.26 trillion. READ MORE

2:47 PM

Stocks that hit 52-week high on BSE today

COMPANY	PRICE(rs)	52 WK HIGH	CHG(%)
ADVANCED ENZYME	249.00	254.00	1.08
APOLLO HOSPITALS	1814.70	1871.00	2.10
BIOCON	454.85	463.55	2.88
BIRLASOFT LTD	200.55	206.40	3.46
CADILA HEALTH.	415.15	422.80	5.31

2:42 PM

MARKET CHECK

2:29 PM

MARKET CHECK :: Financials drag indices lower

2:29 PM

BROKERAGE VIEW | Kotak Institutional Equities on Cipla, Lupin

We believe both Lupin and Cipla have nearly 10 million device capacities, with Teva and GSK the only other players having large capacities (each in excess of 20 mn). Given Perrigo’s exit, we expect a prolonged steady pricing scenario for albuterol. We believe Cipla has now scaled up to full capacity at US$10-12/device pricing, and expect Lupin to fully scale-up over the next quarter.

2:25 PM

SECTOR WATCH :: Sharp slide in banking counters; HDFC Bank dips 3%, PNB 2%

2:24 PM

BUZZING STOCK :: Dr Reddy's extends gains, up over 13%

2:19 PM

NEWS ALERT :: Shilpa Medicare Board approves to establish wholly-owned subsidiary in Malaysia

2:12 PM

Rupee Closing

Rupee ends stronger at 73.45/$ vs Thursday's close of 73.65 per US dollar

2:06 PM

Surya Roshni surges 25% in 8 days after winning orders worth Rs 287 crore

On September 8, 2020, the company said it received two separate orders worth Rs 287.45 crore from Indian Oil Corporation and Bharat Gas Resources. The company received an order worth Rs 152.31 crore from Indian Oil Corporation for supplying API grade pipes for LPG pipe line project in Uttar Pradesh. The order is to be executed in 10 months. The company also received an order worth Rs 135.14 crore from Bharat Gas Resources for supplying API grade pipes for pan-India city gas distribution. The order is to be executed in 12 months. READ MORE  

1:55 PM

BROKERAGE VIEW | Emkay Global Financial Services on Lupin, Cipla

Assuming Perrigo remains out of market for the next six months and a shift of incremental US$30mn sales to each Cipla and Lupin, our rough calculation indicates an 8-9% upgrade for Cipla and around 13-14% for Lupin in FY21 earnings. There will not be any change in FY22/23 EPS as Perrigo may re-enter the market by then. We have a Buy rating on Cipla with a TP of Rs 800 and Hold on Lupin with a TP of Rs 905. Currently, Cipla is an overweight in EAP while Lupin is underweight.

1:46 PM

Market share gains, pick up in ad growth to help Zee Entertainment

Rise in viewership of general entertainment channels for the second consecutive month, improvement in market share, and expected gains in revenue from advertising are positives for Zee Entertainment. Analysts at Elara Securities say the broadcaster reported strong performance in August and was able to gain market share across general entertainment and regional genres over the previous month. READ MORE

1:38 PM

European indices mixed in early deals

1:26 PM

Global automobile sales forecast to fall by 20% this year, says S&P

"We project global vehicle sales to expand 7 to 9 per cent both in 2021 and 2022, meaning that light vehicle sales two years from now will still be 6 per cent below 2019 volumes."

 

Any upside to our sales scenario will stem mainly from the Chinese market, the most dynamic but least predictable among the main global auto markets, said Ferraris adding that China may be the only market to catch up with 2019 volumes by the end of 2022. READ MORE

1:18 PM

Real estate stocks in focus; Oberoi Realty, DLF advance over 5%

Shares of real estate companies were in focus with the Nifty Realty index gaining 3 per cent on Friday. Oberoi Realty and DLF rallied 8 per cent and 6 per cent, respectively, on the National Stock Exchange (NSE). Brigade Enterprises, Sobha, Godrej Properties, Sunteck Realty, and Indiabulls Real Estate were up in the range of 1 per cent and 3 per cent. READ MORE

1:10 PM

SECTOR WATCH:: Auto stocks trade higher

COMPANY	LATEST(rs)	CHG(%)
ASHOK LEYLAND	82.10	4.85
TATA MOTORS	149.10	1.02
M & M	643.60	1.01
TATA MOTORS-DVR	66.05	1.15
ESCORTS	1277.70	2.71

12:58 PM

344 stocks in Nifty 500 index are indicating a bullish trend, shows MACD

The moving average convergence divergence (MACD) is a technical indicator that helps to understand the changes in the strength, momentum, and direction of any stock/security. The relationship between two moving averages helps to determine the buy or sell signal with the assistance of a 'signal line'. READ MORE

12:45 PM

India VIX cools off 3%

12:38 PM

India Inc looks to raise more than Rs 50,000 crore from IPOs in FY21

According to data made available by Geojit Financial Services, as many as 80 firms have approached the regulator Securities and Exchange Board of India (Sebi) to get the necessary approvals for tapping the primary market through the rest of the current fiscal. READ MORE

12:30 PM

Top gainers on BSE at this hour

COMPANY	PRICE(rs)	CHG(%)
NATCO PHARMA	916.20	18.00
DR REDDY'S LABS	5251.45	8.80
SUDARSHAN CHEM.	531.00	8.69
CIPLA	810.10	7.72
LUPIN	1110.20	6.96