MARKET WRAP: Sensex trims losses, ends 362 pts lower; Nifty ends at 11,360

All that happened in markets today.

4:18 PM

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

Contraction in core sector and concern on Govt’s plan to stick with original fiscal target of 3.3% in spite of huge cut in tax raised concern over spending. Investors are not expecting a meaningful recovery in festival season due to continued weakness in auto sales. Volatility in banks and fall in rupee also influenced profit booking tendency in the market.

 

4:06 PM

MARKET AT CLOSE | Sectoral losers and gainers on the NSE

4:05 PM

MARKET AT CLOSE | Gainers and losers on the S&P BSE Sensex

3:39 PM

CLOSING BELL

The S&P BSE Sensex ended at 38,305.41, down 362 points or 0.94 per cent while NSE's Nifty50 index ended at 11,359.90, down 115 points or 1 per cent. 

3:28 PM

Why Sensex slipped over 700 pts during the day

Counters such as PSU banks, realty, and media fell like ninepins while the volatility guage India VIX jumped 14 per cent to 18.04 levels. The Nifty PSU Bank index slipped over 6 per cent to 2,154.30 levels with all the 12 constituents trading in the red. The broader market was no different as the S&P BSE MidCap index slipped around 2 per cent to 13,858.85 levels while the S&P BSE SmallCap index was quoting 1.90 per cent lower at 12,920.94 levels. READ MORE  

 

3:19 PM

NEWS ALERT | Have no exposure to HDIL or PMC Bank: DHFL via BSE filing

-- Says, DHFL's promoter family had separated from HDIL promoters in 2008 and the separation was effected formally by a family-separation agreement in April 2010.

3:16 PM

NEWS ALERT | European Commission clears Novelis' acquisition of Aleris, with conditions: Reuters

3:04 PM

NEWS ALERT | Have asked lenders to give time till March 2020: Punit Goenka, CEO of ZEEL to CNBC TV18

-- Total dues to lenders at Rs 5,000 cr

-- No invocation by any lender this week

-- Oppenheimer deal took longer than anticipated

-- Engaged largely with financial investors; they would be happy to take larger portion in 10% stake 

3:02 PM

STOCK ALERT | YES Bank's m-cap falls to Rs 8,000 cr

-- Shares of Yes Bank plunged 30 percent intra-day to touch an over 10 year low of Rs 29.05 -- its lowest level since July 20, 2009.

-- Market cap of the private lender tumbled to Rs 8,033 cr

2:55 PM

RUPEE ALERT| Domestic currency trading near day's low

2:50 PM

Value of downgraded debt trebles to Rs 1.38 trn in H1 of FY20: Crisil

The value of debt downgraded more than trebled to Rs 1.38 trillion in the first half of fiscal 2020 (ended September 2019) from Rs 39,000 crore in the first half of fiscal 2019. That’s the highest for any half since fiscal 2016, rating agency Crisil said in the review of rating action in April-September 2019.

 

Constrained access to funding affected the credit profiles of entities across sectors, especially non-banks and real estate. READ MORE

2:43 PM

NEWS ALERT | Lupin receives U.S. FDA approval for Extended Phenytoin Sodium Capsules USP: BSE filing

2:28 PM

Index Contributors at this hour

2:15 PM

Volatility Index jumps 12%

2:13 PM

Market check | Sensex slipped 980 points from day's high

-- Index touched intra-day low of 37,941.20

2:10 PM

Sector watch | Nifty PSU Banks' index slide, down 5%

-- Syndicate Bank, Canara Bank, Bank of India, Union Bank of India, Bank of Baroda and Punjab National Bank hit 52-week low

2:07 PM

Bank stocks tumble, S&P BSE BANKEX drops nearly 3%

2:05 PM

MARKET CHECK | Sensex extends losses; 28 stocks in the red

2:00 PM

NEWS ALERT | Govt amends Mineral (Mining by Government Company) Rules, 2015: CNBC TV18

-- Replaces the word ‘may’ with ‘shall’ in Mining Policy

-- Will remove ambiguity over mining renewables

1:52 PM

MARKET UPDATE | Bajaj Finance surpasses SBI in m-cap race

1:52 PM

Market check | Sensex slips nearly 690 points from day's high

1:39 PM

Indiabulls group stocks extend decline; Indiabulls Hsg falls 48% in 1 week

Shares of Indiabulls group companies continued to reel under pressure on the BSE on Tuesday, taking total losses at Indiabulls Housing Finance (IBHFL), for the past one week, at 48 per cent. IBHFL extended Monday's slide on concern over merger with Lakshmi Vilas Bank (LVB). The Reserve Bank of India (RBI) on Saturday initiated prompt corrective action (PCA) against LVB. READ MORE

1:25 PM

Buzzing | DHFL tanks 18%

1:21 PM

Margin pressure, global factors to impact copper industry's financials

According to a report by 'Care Ratings', the dip in domestic production, largely due to the permanent closure of Vedanta's copper smelter plant in Thoothukkudi, will force India to remain a net importer of copper while the global copper prices will remain suppressed, and in the range of $ 5,500-5,900/tonne, until a constructive trade deal is reached between the US and China. READ MORE

1:02 PM

NEWS ALERT | MOIL enters into JV with GMDC to take up project of joint exploration of manganese bearing areas in Gujarat

-- MOIL has signed a detailed MoU with GMDC for joint exploration, etc., to take up the above project.

-- JVC will have shareholding pattern of 51% and 49% for MOIL and GMDC respectively

12:59 PM

Sept Auto Sales Data | Eicher Motors

-- Total domestic sales down 44.8%, at 3,140 units

-- Total exports down 41%, at 533 units

-- Total trucks and buses sales decline 44.2%, at 3,673 units

12:55 PM

Sept Auto Sales Data | Escorts

-- Total domestic sales up 1.2% YoY, at 10,521 units

-- Total exports rise 51.1% YoY, at 334 units

-- Total sales up 2.2% YoY, at 10,855 units

12:48 PM

Sept Auto Sales Data | M&M

-- Total domestic sales down 21% YoY, at 40,692 units

-- Total exports down 29% YoY, at 2,651 units

-- Total passenger vehicle sales down 33% YoY

-- Total commercial vehicle sales down 18% YoY

-- Total 3-wheeler sales up 8% YoY

12:46 PM

Bharti Airtel plans to raise up to $1 bn via bond issue to reduce debt

Telecom major Bharti Airtel is planning to raise funds up to $1 billion (about Rs 7,000 crore) via a bond issue by its subsidiary Network i2i, the proceeds of which will be used to reduce debt.

 

"...offering of USD denominated Guaranteed Subordinated Perpetual Securities by Network i2i Limited (a direct 100 per cent subsidiary of Bharti Airtel) expected to be rated BB by both S&P and Fitch may follow, subject to market conditions," Bharti Airtel said in a regulatory filing. READ MORE

12:37 PM

DGCA orders check for cracks in 23 SpiceJet Boeing 737-NG aircrafts

Indian aviation regulatory body, Directorate General of Civil Aviation (DGCA), has ordered checks of the joining areas of wings and body of all Boeing 737 Next-Generation (NG) aircraft in India for those which have completed over 26,000 flight cycles (FC).

 

Recently, cracks were found in three Boeing 737 NG planes having more than 36000 flight cycle at the wing to body frame fitting during a check. Boeing has been apprised about the cracks. READ MORE