MARKET WRAP: Infy, RIL support Sensex, Nifty ends below 11,600; banks slip

All that happened in markets today.

4:00 PM

Tech view on today's trade

After two strong sessions, the Nifty took pause on Tuesday and closed weak at 11,588 with minor loss of 12 points. The Index has gap in between 11,382-11,471 levels, hinting that this area will act as a strong support in the coming sessions. For the coming session, the index may remain sideways. It needs to sustain above 11,700 mark to continue its bull-run.

Nifty Bank, on the other hand, closed the day at 30,183 levels with loss of 383 points and formed 'Doji Candle' pattern on the daily chart. This indicates indecision. An immediate support for index is near 29,960-29,450 zone, while there is resistance near 30,400-30,800 levels, charts suggest

(Source: Rohit Singre, senior technical analyst, LKP Securities)

3:56 PM

Public sector bank (PSB) stocks see profit booking

3:55 PM

IT stocks rally

Infosys among key gainers

3:54 PM

Nifty snapshot

3:51 PM

Sensex heat map

3:39 PM

CLOSING BELL

The S&P BSE Sensex ended at 39,097.14, up just 7 points or 0.02 per cent while NSE's Nifty50 index slipped below 11,600 level to end at 11,588.20.

3:31 PM

NEWS ALERT | Proposed 2-day bank strike has been deffered, says SBI: CNBC-TV18

3:24 PM

ITD Cementation tanks 20% on heavy volumes, hits 4.5-year low

ITD, which was quoting lower for the seventh straight day, have plunged 33 per cent during the period, after rating agency ICRA placed ratings of its long-term fund based and non-fund based facilities worth of Rs 4,900 crore of the company under "watch with developing implications". In comparison, the S&P BSE Sensex has gained 4 per cent during the same period. READ MORE

3:10 PM

NEWS ALERT | PMC Bank may have lent to real estate company or companies: CNBC-TV18

2:47 PM

Buzzing stock | PVR hits 52-week high

2:47 PM

NEWS ALERT | Adani Enterprises incorporates 'Adani Guwahati International Airport': BSE Filing

2:33 PM

Market check | Sensex sees sudden surge

2:30 PM

ICICI Securities on Radico Khaitan

Radico has been able to penetrate the segment and create an own niche for itself. With a continued focus on brand development, newer premium IMFL (Indian Made Foreign Liquor) launches and strong distribution network built over the years, we ascribe a 'BUY' rating to Radico Khaitan with a target price of Rs 400 (18x FY21E P/E).

2:28 PM

NEWS ALERT | IRCTC to launch IPO on September 30: Reports

2:26 PM

Indian Bank hits 52-week low

2:17 PM

NEWS ALERT | Gross direct tax collection between April-Sept 17 at Rs 5.5 trillion, up 5% YoY: sources to CNBC TV18

-- Advance tax collections at Rs 2.2 trillion, up 6% YoY

-- Personal advance tax collection at Rs 36,00 cr

-- Tax refund pending worth over Rs 70,000 cr 

2:15 PM

NEWS ALERT | H2 borrowing calendar likely on Sept 30: CNBC TV18

2:02 PM

MARKET CHECK | Around 51 securities hit 52-week low on the NSE

(Source: NSE)

1:59 PM

MARKET CHECK | IT stocks rally, Nifty IT index up nearly 2%

1:54 PM

Kotak Securities on auto component companies

We expect margins for auto ancillaries in the OEM segment to remain weak as auto OEMs remain under pressure due to weak retail demand. We expect auto ancillary companies to pass on some of the benefits from ETR cut to OEMs as their bargain power in the segment remains low. Companies that derive higher share of business from the replacement segment will be the major beneficiaries due to the ETR cut. We like Amara Raja Batteries, Balkrishna Industries and Varroc Engineering from this space. We have downgraded five stocks – Apollo Tyres (from BUY to ADD), CEAT Tyres & SKF India (from ADD TO REDUCE) and Endurance Technologies & MRF Tyres (from REDUCE TO SELL) on expensive values as stock prices have rallied over the past two trading sessions post the corporate tax rate cut announcement.

1:39 PM

ALERT | Nifty Mid-Cap 100 index breaches its 100-DMA after major 2-day rally on Friday & yesterday: CNBC TV18

1:38 PM

NEWS ALERT | Govt likely to inject Rs 55,250 cr this week into state-run banks: CNBC-TV18

1:38 PM

NEWS ALERT | Will approach market to borrow Rs 12,000 cr for expansion plan: BSNL CMD to CNBC TV18

-- BSNL waiting Cabinet nod

-- Paid salary to employees through internal sources

1:36 PM

NEWS ALERT | Believe Indian Govt will make independent decision on 5G for the long-term benefit of India: Huawei India to CNBC-TV18

-- Huawei says, will continue to abide by rules & regulations of the land

 

-- Believe decision will be based on facts and technical data rather than ideology or a vendor's country of origin

 

-- Believe Indian govt will treatall companies fairly 

1:36 PM

NEWS ALERT | Huawei writes to DoT seeking clarity on India stance on it's participation in 5G trials: sources to CNBC TV18

-- Huawei likely to visit India next month

 

-- Seeks clarity on its application for 5G trials in India

 

-- Co reiterates intent to sign 'no-back door' pact with Govt to assuage potential security concerns

 

-- Spl Committee to review applications likely given clearance to Samsung, Nokia, Ericsson. 

 

Alert: India invited applications for 5G trails

 

     : Govt received 6 proposals for 5G tech trials in India in June including Huawei

1:26 PM

LIC's investment in the private sector lowest in 16 years at 14.6%

The LIC has reportedly helped bail out a number of public sector enterprises, as well as banks like IDBI, which may have resulted in a shrinking pool available for the private sector. READ MORE 

 

1:18 PM

NEWS ALERT | Axis bank to get Rs 1,500-1,700 cr as Tier-I capital from low risk weight: sources to CNBC TV18

-- Domestic Institutions may have contributed 33% to QIP

 

-- Hedge Funds likely subscribed to 16% of QIP

 

-- California-based Fund Dodge & Cox may have put in a bid of Rs 1,300 cr in QIP 

1:11 PM

NEWS ALERT | Axis Bank likely to have received RBI's approval to reduce risk weight: sources to CNBC TV18

-- Axis Bank's QIP likely to be priced at Rs 629/sh

-- 48% of QIP expected to be subscribed by long-only FIIs

-- Axis Bank to raise additional Rs 2,500 cr from promoters

Alert: Axis Bank to see cumulative capital expansion of Rs 16,500 cr
 

1:09 PM

Threats loom for India’s apparel exporters: ICRA

India’s apparel exports have revived during the current financial year, growing by nearly 4 per cent Y-o-Y during 4M FY2020, after two consecutive years of de-growth, by nearly 3-4 per cent per annum in the previous two fiscals. As per ICRA note, though domestic apparel exports are expected to remain in the positive zone during rest of the year, there are multiple threats looming which could slow down the pace and make it challenging for apparel exporters.

 

Commenting on this, Mr Jayanta Roy, Senior Vice-President and Group Head, Corporate Sector Ratings, ICRA, says, “External environment for India’s apparel exporters remains challenging amid a pick-up in activity on several free trade agreements among the key trading nations, which has intensified competition from nations having a cost advantage over India.”

1:04 PM

Prabhudas Lilladher on Multiplex sector

We believe industry profitability and capital efficiency is set to improve as M&A activity is more or less over (top 4 players have cornered ~79% of the multiplex screen count), and share of premium screens and high margin non-ticketing revenue is on a rise. We have a positive outlook on the sector and initiate coverage on PVR (ACCUMULATE with a TP of Rs 2,099) and Inox Leisure (BUY with a TP of Rs 394). Threat from OTT and contagion of local body tax are key risks to our thesis.