MARKET WRAP: Sensex slips 141 pts, Nifty ends at 11,126; pharma stks bleed

All that happened in markets today.

3:57 PM

Here's how sectoral indices on the NSE performed today

3:56 PM

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

3:43 PM

CLOSING BELL

The S&P BSE Sensex shed 141 points or 0.38 per cent to end at 37,531.98 levels while the NSE's Nifty50 index ended at 11,126.40, down 48 points or 0.43 per cent. 

3:28 PM

MARKET CHECK

2:58 PM

Market check

2:57 PM

Market check | Sensex slips in the red

2:50 PM

Sector watch | Nifty Financial Services index trades higher

2:40 PM

NEWS ALERT | Road Min to meet construction equipment makers to push non-diesel variants: sources to CNBC TV18

-- Meeting in the backdrop that EPAC is pushing for cleaner cars

-- To hold meeting with OEMs to push for cleaner fuel based vehicles

Alert: OEMs have been pushing for diesel based vehicles due to high power

2:35 PM

NEWS ALERT | Former PMC Bank MD Joy Thomas likely to have confessed to involvement in scam: sources to CNBC TV18

-- Confesses to making fictitious accounts to mask loans given to HDIL

-- Loans worth Rs 96 cr taken by HDIL from PMC Bank to service loans of Bank of India

-- Joy Thomas takes sole responsibility of wrongdoings

2:32 PM

NEWS ALERT | PM Modi will chair panel to finalise India's stand on RCEP today: sources to CNBC TV18

-- Home Minister, Finance Minister, External Affairs Minister & Commerce Minister to attend

Alert: RCEP is  Regional Comprehensive Economic Partnership

2:17 PM

Lakshmi Vilas Bank, IndusInd Bank & 32 other BSE500 stocks hit 52-wk low

Besides, IndusInd Bank, Bank of Baroda, Edelweiss Financial Services, Indiabulls Real Estate, Indiabulls Housing Finance, L&T Financial Holdings and Lakshmi Vilas Bank were other notable stocks from the index that slipped in the range of 1 to 13 per cent, to hit fresh 52-week lows today. READ MORE

2:06 PM

NEWS ALERT | ICRA says Coal India may miss FY20 production target of 660 mt by 55-75 mt: CNBC TV18

1:52 PM

Buzzing | Aurobindo Pharma slides 17%

1:39 PM

Investors struggle to cut losses as shadow banking crisis deepens

Mutual funds are in a particularly tough spot, given their large holdings of non-bank financing company bonds. That, in turn, threatens everyone from individual investors to conglomerates with money in the funds, underscoring broader risks to policy makers already grappling with an economic slowdown. READ MORE

1:29 PM

NEWS ALERT | JSW Energy enters into exclusive discussions with GMR Energy for acquisition of its subsidiary: CNBC TV18

-- JSW Energy to acquire GMR Kamalanga Energy in Odisha.

Alert: GMR Kamalanga has a 1050 MW thermal power plant in Odisha

 

1:27 PM

NEWS ALERT | ‘Reliance Mutual Fund’ renamed ‘Nippon India Mutual Fund’: BSE Filing

1:16 PM

Info Edge surges 13% in 2 days on Zomato's fund-raising plan report

Shares of Info Edge (India) were up 6 per cent at Rs 2,398 on the BSE on Monday, surging 13 per cent in the past two trading days after a media report suggested that Zomato was planning to raise $600 million (approx. Rs 4,200 crore). Info Edge holds a 26.38 per cent stake in Zomato Media Private Limited (Zomato).
 

"Online food delivery and restaurant discovery platform Zomato is finalising a fresh $600 million round of fundraising likely to be led by existing Chinese investor, Ant Financial," The Economic Times reported on Friday, October 4, quoting two people in the know. READ MORE

1:04 PM

With Sensex down over 3% since Sep 23, banking crisis may prevent bull run

Stock bulls betting on a second rally from India’s landmark corporate tax cut are having their faith tested by a shadow banking crisis.

 

The Sensex index has fallen more than 3 per cent since reaching a two-month high on Sept. 23. That has erased almost half of the surge sparked by the Sept. 20 announcement of a landmark corporate tax cut, as debt concerns emerge at lenders including Indiabulls Housing Finance Ltd. and a co-operative bank. READ MORE

12:51 PM

PSUs get booted out of top 10 market-cap club; analysts eye divestment

India’s largest bank by assets, State Bank of India (SBI) and the sole stock to hang on to this elite list was evicted last week, with its market-cap out falling below that of Bajaj Finance. Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank, Hindustan Unilever, HDFC, Infosys, ITC, Kotak Mahindra Bank and ICICI Bank are now among the top 10 companies with the highest market-cap. READ MORE  

 

12:40 PM

YES Bank extends gains

12:28 PM

Investors expect more policy measures: Citi India's Abhinav Khanna

Global investors have been keenly watching the policy measures being unveiled in India over the past few weeks. Abhinav Khanna, head of equity at Citi India, tells Puneet Wadhwa that he expects emerging markets (EMs), and India in particular, to see higher allocation by foreign investors over the next 12 months. READ FULL INTERVIEW HERE

Abhinav Khanna, head of equity at Citi India

12:19 PM

Index Contributors at this hour

12:08 PM

Most banking stocks gain; Nifty Bank rallies nearly 400 pts

12:08 PM

Monetary policy: Here's how low interest rates can go after 5 cuts in a row

The Monetary Policy Committee can possibly cut rates by another 40-65 basis points, which will take the benchmark repurchase rate below the 4.75 per cent level seen during the global financial crisis, according to economists, including Anand Rathi Financial Services Ltd.s’ Sujan Hajra. So entrenched is India’s growth slowdown that it may require the rate to be cut to as low as 4.5 per cent for any meaningful impact. READ MORE

RBI Governor Shaktikanta Das

12:04 PM

MARKET WATCH | Top losers on the BSE at present

11:55 AM

Geojit Financial Services on Axis Bank

The bank’s resilient growth trajectory along with the focus on asset quality metrics, strengthening of balance sheet and healthy margins will be the key going forward. Hence, we retain our HOLD rating on the stock with an upward revised target price of Rs 717 based on 2.1x FY21E BVPS (book value of equity per share).

11:47 AM

Not just 5G spectrum, even 700 MHz band auction may find few takers

Forget 5G spectrum. Even the premium 700 megahertz (MHz) band may find few takers in the upcoming spectrum auctions since the network equipment and handset compatibility with the premium band are not in place, not to mention the highly leveraged companies shying away from further investments. READ MORE HERE

11:38 AM

BUZZING STOCK | Aurobondo Pharma plunges over 7%

11:30 AM

FPIs pull out Rs 3,000 crore from equities in 3 trading sessions of October

Foreign portfolio investors have offloaded equities worth around Rs 3,000 crore in just three trading sessions of October amid fears of global recession and trade war.

 

This follows a net investment of around Rs 7,850 crore by foreign portfolio investors (FPI) into equities in September.

 

Market experts, however, believe that FPI inflows are expected to pick up after the rate cut by the Reserve Bank of India (RBI) and several decisions taken by the capital markets regulator Securities and Exchange Board of India (Sebi). READ MORE

11:18 AM

MARKET CHECK | Top gainers on the BSE at present