MARKET WRAP: Sensex slips 167 pts, Nifty ends at 10,981; YES Bank loses 5%

All that happened in markets today.

3:56 PM

COMMENT :: Tech view

The Nifty has formed a probable inverse 'Head and Shoulder' pattern and has its neckline at 11,150 levels. There will be support around the 10,850-10,800 levels, which is likely to act as a cushion on the lower side in case of a decline.

The index has been witnessing consolidation since past few sessions, but market breadth continues to remain positive. The index should head up going forward. We expect the index to test 11,300-11,500 zone on the upside and continue to remain bullish. Support: 10,870-10,750; Resistance: 11,050-11,150

(Source: Manav Chopra, head of research for equity, Indiabulls Ventures)

3:53 PM

Stocks that contributed most to Sensex's fall

3:51 PM

Tata Motors dips over 3% on the NSE

3:50 PM

Auto stocks among worst-hit today

3:49 PM

Sensex heat map

3:42 PM

CLOSING BELL

The S&P BSE Sensex lost 167 points or 0.45 per cent to end at 37,104.28 while NSE's Nifty50 index ended at 10,981, down 55 points or 0.50 per cent. 

3:16 PM

Yamaha signs 3-year wage settlement with workers at Chennai factory

The three-year wage settlement will be implemented with retrospective effect from April 1, 2019, and will remain effective until March 31, 2022. The settlement will be applicable to all the permanent employees in Yamaha’s Chennai factory. READ MORE

3:15 PM

Apollo Munich deal should be completed by October: Apollo Hospitals to CNBC-TV18

- Priority is to work in the best interest of shareholders and stakeholders;
- Pledge after Apollo Munich transaction will be 20%

2:49 PM

Global markets check

Asian stocks advanced to a six-week high on Thursday. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.5 per cent and Tokyo’s Nikkei stock index rose 0.96 per cent. Australian shares were up 0.2 per cent. In early European trading, the futures for pan-region Euro Stoxx 50 were up 0.65 per cent, German DAX 0.6 per cent, and London’s FTSE 0.52 per cent.

(From Reuters)

2:38 PM

NEWS ALERT | Zee Media CFO Sumit Kapoor resigns w.e.f. September 13: BSE filing

2:33 PM

NEWS ALERT | Apollo Hospitals promoter group confirms selling 3.6% stake via block deal: BSE filing

-- Promoter Group's stake stands atstands at 30.8 per cent post block deal

2:29 PM

Gems & jewellery industry in turmoil as exports fall sharply in August

The gems and jewellery industry has entered a state of turmoil with the fall in exports increasing month after month. After an over 11 per cent fall in July, overall gross exports of gems and jewellery declined 14.44 per cent to $28.84 billion in August. The Gem and Jewellery Export Promotions Council’s (GJEPC) provisional data shows that during the current financial year, total gross exports have declined 8.92 per cent to $15.33bn. READ MORE

2:22 PM

Cadila Healthcare recovers on India, emerging market sales forecast

The Cadila Healthcare stock has rebounded 12 per cent after falling to its five-year low last month. The uptick, which came on the back of brokerage upgrades, was largely on expectations of earnings recovery. Analysts believe that investments in India and emerging markets (EMs), as well as new products, should help revenue growth with most concerns already priced in. READ MORE

2:08 PM

Banks target weaker borrowers as credit growth slips: Why it's a risky bet

With business collateral losing its sheen, India’s top three private-sector banks have been expanding their credit card and personal loan business at 30 per cent-plus rates, double the pace of growth in their corporate loan book. They can’t keep up for long. If they try, they would only be storing trouble for the future. READ MORE    

1:58 PM

MARKET CHECK | S&P BSE Energy index slips over 1%; RIL, HPCL among top losers

1:48 PM

MARKET CHECK | 13 securities hit 52-week high on NSE

Source: NSE

1:46 PM

Edelweiss Securities on ACC

We expect pan-India player ACC to be a prime beneficiary of the positive industry fundamentals – high industry clinker utilisation, bright demand outlook over medium term and benign fuel cost. We continue to value the stock at 12x CY20E EV/EBITDA and maintain ‘BUY/SP’ with a TP of Rs 1,846/share. The stock is trading at 9.4x CY20E EV/EBITDA.

1:34 PM

InterGlobe Aviation and SpiceJet are ready to fly higher, show charts

At a time when the benchmark indices -- S&P BSE Sensex and NSE's Nifty50 -- are hovering around 37,200 and 11,000 levels and have remained mostly flat thus fgar in September, aviation stocks such as InterGlobe Aviation (parent company of IndiGo) and SpiceJet are showing a decent formation on the technical charts. While InterGlobe Aviation is heading towards a new all time high, SpiceJet has managed to absorb selling pressure at around Rs 150 levels from April this year. READ MORE

1:29 PM

IRB Infra up 5%

1:21 PM

After strong gains the past 4 months, some headwinds for Nestle stock

Shares of Nestle India, have been in demand among investors, having risen by about 25 per cent in the past four months. In contrast, the Nifty 50 and Nifty FMCG indices has lost about two per cent each in the same period. Double-digit volume-led topline growth in the June 2019 quarter, even as most of its FMCG peers saw their volumes decline, and recent inclusion of the stock in the Nifty 50 index, turned investors bullish on the maker of Maggi noodles, Nescafe and Kit Kat chocolates. READ MORE

1:08 PM

Indiabulls Housing Finance up over 5%

1:04 PM

NEWS ALERT | L&T Construction bags orders of Rs 1,000 cr- Rs 2,500 cr in Maharashtra and Odisha: Exchange filing

12:57 PM

Emami zooms 4%

12:46 PM

BUZZING STOCK:: Dishman Carbogen Amcis

12:34 PM

Earnings pressure to persist even in September quarter, says Gautam Duggad

The June quarter performance of India Inc was subdued with majority of the companies seeing their earnings getting downgraded, said Gautam Duggad, head of research, institutional equities, Motilal Oswal Financial Services. Given the macro economic backdrop, corporate earnings will remain under pressure in the September quarter as well, Duggad tells Sundar Sethuraman. READ MORE

12:24 PM

InterGlobe Aviation at fresh all-time high

12:10 PM

YES Bank cracks 4%

11:58 AM

Nifty sectoral indices at this hour

11:48 AM

Tide is turning for mid, smallcaps. Buy selectively for long-term: Analysts

The tide seems to be slowly turning for the mid-and small-cap segments. After a sharp correction post the presentation of Budget in July 2019 that dragged the S&P BSE Midcap and S&P BSE Smallcap indices lower by 9.8 per cent and 12.6 per cent, respectively till August 30 (S&P BSE Sensex down 6.5 per cent during this period), the sentiment in both these segments has started to pick up in September. READ MORE

11:40 AM

Rupee check