MARKET WRAP: Sensex up 347 pts; DHFL cracks 22%, YES Bank slips 2%

Among sectoral indices, the Nifty Bank index settled 1.4 per cent higher led by a rise in the shares of SBI and Axis Bank.

3:47 PM

Nifty Bank index ends 1.44 per cent higher. Top gainers:

COMPANY	LATEST	PREV CLOSE	GAIN( )	GAIN(%)	VOLUME
KOTAK MAH. BANK	1186.10	1148.70	37.40	3.26	3775399
ST BK OF INDIA	272.50	264.35	8.15	3.08	28945769
AXIS BANK	614.00	597.35	16.65	2.79	17512749
HDFC BANK	1960.00	1925.70	34.30	1.78	4169896
BANK OF BARODA	109.50	107.70	1.80	1.67	39565009
INDUSIND BANK	1691.05	1674.20	16.85	1.01	4500410

3:45 PM

Sectoral gainers of the day on the NSE

3:43 PM

BSE Sensex: HDFC, Axis Bank, HUL among top gainers of the day

3:32 PM

Market at close

 

The S&P BSE Sensex ended at 36,652, up 347 points while the broader Nifty50 index settled at 11,067, up 100 points.

3:24 PM

India's oil demand growth to slow down over next decades: Reliance

India will continue to depend on oil as a mainstay of its energy but its oil demand growth will likely slow as the government pushes for cleaner energy and renewables, Harish Mehta, President, Refining & Marketing at Reliance Industries said on Tuesday.

 

India is pushing for intervention to support renewables, grid electrification, and the government is trying popularize natural gas and shared mobility, said Mehta said during the Asia Pacific Petroleum Conference (APPEC) in Singapore. READ MORE

3:13 PM

Cutting cash reserve ratio can improve liquidity: finance ministry official

Cutting banks' cash reserve ratio (CRR), or the amount of funds they set aside with the central bank, are among options that the central bank could look at to improve liquidity in the system, a finance ministry official said on Tuesday.

 

The Reserve Bank of India (RBI) could also consider buying more bonds from the open market and open a special window for mutual funds to inject liquidity, the official told reporters, declining to be identified as the discussions are not public. READ MORE

3:01 PM

Oil hits 4-year high after OPEC+ shows no sign of turning on the taps

The oil price shot to its highest in four years on Tuesday, catapulted by upcoming U.S. sanctions on Iranian crude exports and the apparent reluctance of OPEC and Russia to raise output to offset the potential hit to global supply.

 

Brent crude futures were up 74 cents on the day at $81.94 a barrel, having touched a session peak of $82.20, the highest since November 2014. READ MORE

2:47 PM

Delay in action likely to freeze corporate bond market, say mutual funds

The mutual fund industry wants regulatory intervention to normalise disruption in the corporate bond market. While investors were already nervous with some schemes’ exposure to IL&FS papers, the recent sharp spike in yields of some highly-rated papers has added to their worries. READ MORE

2:35 PM

Oracle Financial Services Software allots 55.338 equity shares

With this allotment, the paid up capital of the Company has increased to Rs. 428,604,855/- divided into 85,720,971 equity shares of face value of Rs.5/- each. READ MORE

2:24 PM

Check out the stocks that hit 52-week lows on NSE

COMPANY	LATEST	52 WK LOW	PREV LOW	PREV DATE	VOLUME
21ST CENT. MGMT.	30.55	30.55	30.60	12-SEP-2018	412
8K MILES	223.10	223.10	234.30	26-JUL-2018	15200
A2Z INFRA ENGG.	15.90	15.60	16.20	24-SEP-2018	244748
ABAN OFFSHORE	87.30	87.15	88.90	21-SEP-2018	349618
ABG SHIPYARD	4.20	4.00	4.00	24-SEP-2018	17941

2:16 PM

NEWS ALERT

 

Brent crude at fresh 4-year high; surges over $82/bbl

2:16 PM

Just Now

Nor ruling out raising stake in IL&FS: LIC

2:14 PM

Glencore launches $1 billion additional share buyback

 

The London-listed miner, with a market capitalisation of $61 billion, announced plans to repurchase shares after the US government investigation into bribery and corruption sent the stock down more than 15 percent since the start 2018. READ MORE

1:59 PM

Market Check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	36,227.40	-77.62	-0.21
S&P BSE SENSEX 50	11,434.80	-33.90	-0.30
S&P BSE SENSEX Next 50	32,148.44	+25.78	+0.08
S&P BSE 100	11,173.68	-26.85	-0.24
S&P BSE Bharat 22 Index	3,501.28	-17.80	-0.51

(Source: BSE)

1:44 PM

YES Bank makes sharp U-turn; slips 17% from intraday high to hit 52-wk low

Making a sharp u-turn, shares of YES Bank slipped 7 per cent in the afternoon trade on Tuesday ahead of the board meeting to be held later in the day to decide the future course of action after the Reserve Bank of India (RBI) curtailed the term of its managing director (MD) and Chief Executive Officer (CEO) Rana Kapoor and asked the bank to look for a replacement by January 2019. READ MORE

1:30 PM

NBFCs with shorter-tenure assets better placed to deal with margin worries

Stocks of non-banking financial companies (NBFCs) and housing finance companies (HFCs) continued to trade in the red on Monday, for a consecutive session. Stocks of many HFCs fell 5-10 per cent and those of NBFCs by up to eight per cent.

 

Worries over net interest margin (NIM) and balance sheet growth, amid expected challenges in funding growth at a reasonable cost, are weighing on the stocks. Though liquidity is also a problem, analysts do not see this as serious a concern as compared to pressure on NIMs. READ MORE

1:15 PM

Top gainers in BSE 500:

COMPANY	PRICE( )	CHG( )	CHG(%)	VOLUME
HDFC STAND. LIFE	389.40	19.55	5.29	406346
BALRAMPUR CHINI	81.05	4.05	5.26	1234610
M & M FIN. SERV.	411.15	19.40	4.95	593074
AUROBINDO PHARMA	763.95	33.50	4.59	204958
S H KELKAR & CO.	219.90	9.25	4.39	14674

1:02 PM

BNP Paribas Cardiff may trim stake in SBI Life; stock hits new low

Shares of SBI Life Insurance has slipped 6% to Rs 553 per share on the BSE in intra-day trade after the company said that BNP Paribas Cardiff may trim stake in the insurer to comply with minimum shareholding norms. The stock was trading at its lowest level since listing on October 3, 2017. READ MORE

12:44 PM

OMCs, aviation stks drop as crude rises; IndiGo, Jet Airways hit 52-wk lows

Shares of aviation and oil and gas companies came under selling pressure on Tuesday as the crude oil prices hit a four-year high. State-run GAIL was trading over 4 per cent lower at Rs 365.65 apiece on BSE, after hitting an intraday low of Rs 364.90. BPCL was down nearly 3 per cent at Rs 357.40. READ MORE

12:30 PM

Maruti Suzuki slows down on volume and margin worries; stock falls

The Maruti Suzuki stock is down 17 per cent since its high a month ago on concerns that higher commodity prices, competitive environment, and the adverse currency situation will affect revenues and margins. Brokerages have downgraded the stock, and cut their earnings estimates by up to 12 per cent over the next two years.

 

Analysts have highlighted a couple of areas, which would keep the stock under pressure. Macro headwinds and the impact on volume are the most prominent among them. READ MORE

12:16 PM

HCL Technologies hits record high; stock up 24% in three months

Shares of HCL Technologies hit a record high of Rs 1,125 per share, up 2.6% in intra-day trade, surpassing their previous high of Rs 1,107 per share recorded on April 23, 2018, on the BSE. The stock was trading above its share buyback price of Rs 1,100.

 

In the past three months, HCL Technologies has outperformed the market by surging 24% after the company announced the share buyback proposal. READ MORE

12:00 PM

Market at Noon

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	36,405.43	+100.41	+0.28
S&P BSE SENSEX 50	11,493.21	+24.51	+0.21
S&P BSE SENSEX Next 50	32,345.11	+222.45	+0.69
S&P BSE 100	11,232.29	+31.76	+0.28
S&P BSE Bharat 22 Index	3,508.77	-10.31	-0.29

(Source: BSE)

11:46 AM

Usha Martin deal expected to be positive for Tata Steel's earnings growth

Tata Steel's announcement on acquisition of Usha Martin's one million tonnes per annum (MTPA) steel operations, though small, is expected to be positive for the former's earnings growth.

 

Tata Steel group is among the top global steel companies with 27.5 MTPA capacities at the end of 2017-18. READ MORE

11:31 AM

World Gold Council expects RBI's demand for gold to remain buoyant

The World Gold Council has said the Reserve Bank of India (RBI) has, since the start of 2017, been the fourth largest buyer of gold for adding to foreign exchange reserves. Russia, Turkey and Kazakhstan are the top three. Top 10 gold buyers since 2017 Globally, more and more central banks are buying gold for their forex reserves. READ MORE

11:15 AM

Keep SIPs going in equity funds, stick to long investment horizon

The BSE Sensitive Index, or Sensex, has been volatile in the two trading sessions on Friday and Monday with a downward bias. Experts fear the current bout of volatility may not abate soon.

 

Investors, therefore, need to remove any possible weaknesses that may have crept into their investment portfolios during the good times to be able to deal with the tougher days ahead. READ MORE

11:00 AM

YES Bank gains 6% ahead of board meeting today

 

Shares of YES Bank were up 6% at Rs 239 per share on the BSE in intra-day trade on Tuesday ahead of the board meeting to be held later in the day to decide the future course of action after the Reserve Bank of India (RBI) curtailed the term of its managing director (MD) and Chief Executive Officer (CEO) Rana Kapoor and asked the bank to look for a replacement by January 2019. READ MORE

10:45 AM

Crude oil imports may be cut as price forecast put at $100 a barrel

 

With oil traders forecasting crude oil to rise to $100 a barrel by the end of the year, Indian refiners are considering cutting back their imports and relying more on cheaper crude already stored in inventories, according to industry executives.

 

Benchmark Brent crude oil futures surged 2 per cent on Monday to over $80 a barrel as markets have tightened ahead of the start of sanctions by the United States on Iran, with commodity merchants Trafigura and Mercuria predicting $100 oil by the end of 2018. READ MORE

10:30 AM

Auto index hits 52-wk low; Maruti Suzuki, Escorts down over 15% in 1-month

 

Shares of automobile companies were trading weak for the sixth straight session on concerns of a slowdown in demand due to rising crude oil and commodity prices especially petrol and diesel.

 

The Nifty Auto index (down 1% at 9,903) and the S&P BSE Auto index (down 1% at 22,168) hit their respective 52-week lows in intra-day trade on Tuesday. In past one month, the auto indices have underperformed the market by falling 10% as compared to a 5.5% decline in the benchmark indices. READ MORE

10:15 AM

145 companies under Additional Surveillance Measure framework: BSE

 

As many as 145 firms, including eight facing insolvency, have come under the Additional Surveillance Measure (ASM) framework of the BSE, according to the latest data available with the exchange.

 

The data shows that the exchange has put Amtek Auto, Adani Transmission, Bombay Dyeing & Manufacturing Company, Electrosteel Steels, Emami Infrastructure, GVK Power & Infrastructure and Indiabulls Ventures under the ASM. READ MORE

10:01 AM

Market Check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	36,290.83	-14.19	-0.04
S&P BSE SENSEX 50	11,445.62	-23.08	-0.20
S&P BSE SENSEX Next 50	32,124.58	+1.92	+0.01
S&P BSE 100	11,181.49	-19.04	-0.17
S&P BSE Bharat 22 Index	3,506.81	-12.27	-0.35