MARKET WRAP: Fiscal stimulus, US-China trade talk hopes lift Sensex 793 pts

S&P BSE mid-cap index settled 207 points, or 1.5 per cent, higher at 13,409 level. Similarly, S&P BSE small-cap index, too, closed at 12,387 level, up 201 points or 1.68 per cent.

3:40 PM

Sectoral gainers and losers on the NSE

3:39 PM

Gainers and losers on the S&P BSE Sensex

3:38 PM

CLOSING BELL

The S&P BSE Sensex zoomed 793 points or 2.16 per cent to settle at 37,494 while NSE's Nifty50 index gained 229 points or 2.11 per cent to end at 11,058. 

3:18 PM

NEWS ALERT | Govt mulling moving a cabinet note to pass FPI surcharge rollback: sources to CNBC TV18

-- Govt mulling various options to operationalise surcharge rollback

-- Govt mulling moving an amendment in the upcoming Winter session

-- Govt mulling FPI surcharge rollback via Ordinance

3:11 PM

Buzzing | Hatsun Agro Products sheds 15%

2:53 PM

Dow Futures up 200 pts

Source: Bloomberg

2:50 PM

Market check | Profit-booking at higher levels drag indices lower

2:47 PM

World's largest wealth manager turns bearish on stocks as trade war deepens

UBS Global Wealth Management, which oversees more than $2.48 trillion in invested assets, has gone underweight on equities for the first time since the Eurozone crisis. The Swiss asset manager cut its stock positioning relative to high-grade bonds to reduce its exposure to trade wars and political uncertainty, Global Chief Investment Officer Mark Haefele wrote in a note to investors. READ MORE

2:39 PM

Adani Ports surges 6% on announcement of buyback schedule

Shares of Adani Ports and Special Economic Zone (APSEZ) climbed 6 per cent to Rs 371 in intra-day trade on the BSE on Monday after the company announced that the proposed share buyback offer will open on September 6, 2019, and close on September 20. In June, APSEZ had announced its plan to buy back up to 39.2 million equity shares, representing 1.89 per cent stake, at Rs 500 per share, each payable in cash for an amount aggregating up to Rs 1,960 crore on a proportionate basis, through the tender offer route. READ MORE

2:39 PM

NEWS ALERT | Lupin’s South Africa arm, ‘Pharma Dynamics’ signs agreement with Creso Pharma for hemp oil-based 'CannaQIX'

2:34 PM

Economic slowdown: Steel consumption set for slowest growth in three years

Demand for steel in India could grow at the slowest pace in three years as an economic slowdown in the global industry’s bright spot deepens. Steel consumption in India is likely to increase by less than 6 per cent this fiscal year, according to ICRA Ltd., the local arm of Moody’s Investors Service. That would make it the slowest pace since a 3.1 per cent increase in the year ended March 2017. READ MORE

2:32 PM

Jtekt India hits 20% upper circuit

2:28 PM

Oil in longest losing run in five weeks as US-China trade war deepens

Oil fell for a fourth day, set for the longest run of declines in more than five weeks, after the latest escalation in the trade war blindsided investors and worsened an already-shaky global demand outlook. Futures in New York dropped as much as 2.2 per cent after closing down 2.1 per cent on Friday as Beijing said it would impose retaliatory tariffs on another $75 billion of US goods, including oil for the first time. READ MORE

2:27 PM

Market check

2:22 PM

Market check | Sensex rallies over 800 pts

2:16 PM

MARKET ALERT | HDFC twin accounts nearly half of the Sensex 746 points rally

-- HDFC is up 4.6% while HDFC Bank has added 4%

2:13 PM

Ashok Leyland adds over 5%

2:10 PM

NEWS ALERT | Cement prices set to rebound in parts of South India post recent sharp correction: sources to CNBC TV18

-- Prices set to increase by Rs 50-60/bag in Andhra Pradesh & Telangana

1:58 PM

Cements stocks gain

COMPANY	LATEST(rs)	CHG(rs)	CHG(%)	VOLUME
INDIA CEMENTS	71.50	0.75	1.06	349038
AMBUJA CEM.	199.85	2.50	1.27	106987
ACC	1480.60	11.65	0.79	32678
ULTRATECH CEM.	3970.90	109.85	2.85	19496
HEIDELBERG CEM.	187.40	1.05	0.56	16346

1:51 PM

Market check

1:48 PM

Market check

1:46 PM

BUZZING STOCK:: Capacite Infra zooms over 9%

1:45 PM

NEWS ALERT | DHFL appoints KK Mankeshwar & Co as statutory auditors w.e.f today: BSE filing

1:38 PM

Pick of the week :: HDFC Securities

HCL Tech: BUY

CMP: Rs 1,087

Recommended action: Buy at CMP and add on dips to Rs 1,023- Rs1,035 band

Target: Rs 1,162 – 1,205

Stop loss: Rs 999

Investment rationale:

 

-- Healthy order pipeline
 

-- Focused on fast growing and high margin verticals
 

-- Margins expected to ramp up in near to medium term due to lapsing of one-off expense and consolidation of IBM business
 

-- Positioning across the verticals, resulting in growth and better margins
 

-- Fastest growing among large IT companies with better industry productivity.

1:32 PM

NEWS ALERT | 1 of 2 blast furnaces at Kharagpur to be closed for maintenance for 3 days: Tata Metaliks

1:29 PM

Market check

1:27 PM

Market check

1:22 PM

ICICI Securities on auto sector

In terms of segments that will benefit from current measures, it will benefit the CV, PV, 3-W, 2-W in order of preference. We abstain from changing our volume estimates for full year FY20E. However, we upgrade our P/E multiples in tandem with long period averages valuation multiples. Given that the major auto OEMs are now trading near or above their long period average P/E multiples, we are still not positive on this space and not recommending any fresh buys. We further downgrade Maruti to SELL with an unchanged target price of Rs 5,000. We maintain our REDUCE rating on Bajaj Auto. However, we continue to have a HOLD recommendation on Hero MotoCorp, Eicher Motors, Ashok Leyland, M&M and Tata Motors.

 

1:16 PM

NEWS ALERT | No irregularities found during the search operation by I-T Authorities: Capacit'e Infra

-- There have been no claims made against the co nor have there been any disclosures.

-- Proceedings have no impact on financial & operational performance of the company
(via BSE filing)

1:14 PM

Markets may see selling pressure; Sensex faces resistance at 37,000 mark

S&P BSE SENSEX: The daily chart reveals 37,500 to be the breakout level for the index, one that can change the negative sentiment and revive the upside rally. The index ws unable to sustain above the 37,000 mark, going ahead, 37,000 – 37,500 levels will act as a resistance range. A bigger upside rally is expected only if it has added volumes and the index is able to hold above the resistance zone. The candlestick pattern on Friday showed a bullish reversal. That said, this reversal needs to have one more positive close. If that happens, then only we can see a positive sentiment prevailing for the current week, which also has F&O expiry on Thursday READ MORE