Live Blog

MARKET WRAP: Sensex declines 298 pts as banks slide; Nifty ends at 11,235

All that happened in markets today.

SI Reporter New Delhi
Brokers trade at their computer terminals at a stock brokerage firm in Mumbai. Photo: Reuters

3 min read Last Updated : Oct 10 2019 | 4:01 PM IST

4:01 PM

MARKET COMMENT | Vinod Nair, HoR at Geojit Financial Services

Market traded range-bound as investors are expecting the downward revision in GDP estimate to mirror in second-quarter earnings as well. The core auto, banks and infra are already in subdued condition due to weak demand while stock-specific buying was seen in few blue chips in the light of good monsoon and advantages of tax cut. Defensive bet Pharma declined due to increasing US FDA observations while IT slid ahead of kick start in second-quarter earnings.

3:37 PM

Sectoral trends at NSE at close

3:37 PM

Top gainers and losers on S&P BSE Sensex at close

3:36 PM

Closing Bell

The S&P BSE Sensex closed at 37,880 level, down 298 points or 0.78 per cent.

On NSE, the Nifty50 index ended at 11,235-mark, down 79 points, or 0.7 per cent.

3:17 PM

Emkay Global on power sector

We expect power demand to continue to increase with the rise in power connectivity and efforts to provide 24x7 power supply across the country. We continue to prefer regulated return entities such as NTPC and NHPC and maintain our OW stance on them in Emkay Alpha Portfolio (EAP). Except for these, the sector offers event-specific trading opportunities rather than any serious investment options, in our view.

3:03 PM

How Amazon, Flipkart and Mukesh Ambani can help save India's banks

Amazon.com Inc. and Walmart Inc.’s Flipkart Online Services Pvt claimed record sales during the recently concluded six-day online shopping bonanza that marks the start of the Indian festival season. Although nowhere close to Alibaba Group Holding Ltd.’s $31 billion Singles’ Day promotion in China, the Indian version of Black Friday has grown fivefold to $3 billion in four years, according to a review of this year’s sales by RedSeer, a consulting firm. Add the spending between now and Diwali, the Hindu festival of lights, and Forrester Research reckons the total for a month of online purchases may fall just shy of $5 billion. READ MORE 


2:53 PM

People are unable to read exposures correctly despite quarterly disclosures: Romesh Sobti

>> Believe there is misinterpretation and misrepresentation of facts

2:43 PM

Reliance Securities on Torrent Pharma

Torrent Pharma is a relatively safer play in current scenario due to higher revenue contribution from domestic business, while lower exposure to US offers comparatively better earnings visibility. We have already factored in US FDA pending issues at Dahej and Indrad facilities into our model in 1QFY20 only. Looking ahead, the Management sees strong growth across geographies except the US. At CMP, the stock trades at 15.0x and 13.3x of FY20E and FY21E EV/EBITDA, which offers limited upside potential. Hence, we change our recommendation on the stock to HOLD from BUY with unrevised Target Price of Rs 1,740, valuing it at 14x of FY21E EV/EBITDA

2:35 PM

Nifty Bank tumbles over 800 pts

2:33 PM

MARKET CHECK | IndusInd Bank extends losses post Q2 nos, slips 5%

2:30 PM

Loan is at multi-year low: IndusInd Bank

2:29 PM

Q2 corporate slippages at Rs 479 cr Vs Rs 175 cr: IndusInd Bank

 >> consumer slippages at Rs 623 cr Vs Rs 550 cr (QoQ)

2:28 PM

Provision coverage ratio at 50% (against 43% QoQ): IndusInd Bank

2:27 PM

Credit growth at 21% YoY, says IndusInd Bank

2:25 PM

EARNINGS ALERT | IndusInd Bank announces Q2 results

  • Net profit at Rs 1,383.4 crore; 
  • Net NPA at 1.12% against 1.23% (QoQ); 
  • Gross NPA at 2.19% against 2.15% (QoQ);
  • Provisions at Rs 737.7 cr against 430.6 crore (QoQ);
  • NII comes in at Rs 2,909.5 crore, up 2.3% (QoQ);
  • Slippages at Rs 1,102 cr vs Rs 725 crore

Topics :MarketsMARKET WRAP

First Published: Oct 10 2019 | 7:27 AM IST