MARKET WRAP: Sensex crashes 760 pts on global selloff; IT, banks weigh

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3:39 PM

Nifty IT index falls 3.04%. Top losers:

COMPANY	LATEST	PREV CLOSE	LOSS( )	LOSS(%)
NIIT TECH.	1056.20	1193.45	-137.25	-11.50
INFIBEAM AVENUES	52.35	58.50	-6.15	-10.51
HCL TECHNOLOGIES	1009.00	1051.80	-42.80	-4.07
TATA ELXSI	975.20	1016.55	-41.35	-4.07
INFOSYS	673.35	700.45	-27.10	-3.87
TCS	1979.95	2043.60	-63.65	-3.11

3:37 PM

BSE Sensex: Top gainers & losers

3:37 PM

Sectoral trends on NSE

3:34 PM

Market At Close

The S&P BSE Sensex slipped 760 points or 2 per cent to settle at 34,001. NSE's Nifty50 index ended below 10,300 level at 10,235, down 225 points or 2.16 per cent. 

3:20 PM

Gold climbs Rs 130 on festive demand

Gold advanced by Rs 130 to Rs 31,980 per 10 gram Thursday following uptick in festive season demand from jewellers and retailers at the domestic spot market despite a weak global trend. However, silver met with resistance at prevailing levels and declined by Rs 200 to Rs 39,000 per kg.

 

Bullion traders said gold prices spurted due to surge in festive demand. READ MORE

3:00 PM

Market Check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	33,982.61	-778.28	-2.24
S&P BSE SENSEX 50	10,694.77	-237.35	-2.17
S&P BSE SENSEX Next 50	29,978.27	-877.84	-2.84
S&P BSE 100	10,445.99	-242.69	-2.27
S&P BSE Bharat 22 Index	3,273.18	-31.39	-0.95

2:50 PM

IMF's Lagarde warns against trade, currency wars, urges fix to global rules

International Monetary Fund Managing Director Christine Lagarde on Thursday warned countries against engaging in both trade and currency wars, saying these would hurt global growth and imperil "innocent bystanders." Formally launching the IMF and World Bank annual meetings on the Indonesian resort island of Bali, Lagarde urged countries to "de-escalate" trade conflicts and fix global trading rules instead of abandoning them. Read More

2:40 PM

Nifty IT down over 3.5%

2:30 PM

Key factors that led to massive sell-off on D-Street today

 

Mirroring global peers, the domestic stock market shattered on Thursday with the benchmark indices Sensex and Nifty plunging around 2 per cent each in intra-day deals. The S&P BSE Sensex tumbled over 1,000 points in the intraday trade while the broader NSE's Nifty50 index slipped below 10,300 level. However, the market recovered later from the day's low in the afternoon deals.

 

Click here to look at the key stocks that spooked the investors on Thursday:

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2:15 PM

JSW Steel output up 6% to 4.18 mn tonnes in Sep quarter; shares slump 4%

 

JSW Steel Thursday said its crude steel output grew 6 per cent to 4.18 million tonne (MT) during the quarter ended September 30, 2018. The Sajjan Jindal-led company had produced 3.94 MT crude steel in July-August 2017, it said in a statement. During the said quarter, there was a rise of 2 per cent in production of flat rolled products at 2.96 MT as against 2.89 MT in the year-ago quarter, it said. Read More

2:00 PM

Market check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	34,163.10	-597.79	-1.72
S&P BSE SENSEX 50	10,758.75	-173.37	-1.59
S&P BSE SENSEX Next 50	30,177.23	-678.88	-2.20
S&P BSE 100	10,509.36	-179.32	-1.68
S&P BSE Bharat 22 Index	3,283.33	-21.24	-0.64

1:50 PM

MARKET COMMENT Rushabh Maru - Research Analyst , Anand Rathi Shares and Stock Brokers

 

The rupee continues to make a new record low as the global and domestic equities experienced steep sell-off. Continued FII outflows from debt and equity market is keeping sentiments bearish. Though the crude oil prices have eased overnight, it is a temporary. As US sanctions on Iran begin from November, crude oil prices might continue to rise in the international market. This may pressurize the rupee in coming sessions. Focus would now shift to India's macroeconomic data which will give further direction to the rupee.

1:37 PM

Top losers on NSE:

COMPANY	PRICE( )	CHG( )	CHG(%)
INFIBEAM AVENUES	53.25	-5.25	-8.97
INDIABULLS HOUS.	912.45	-65.80	-6.73
NIIT TECH.	1113.65	-79.80	-6.69
IIFL HOLDINGS	439.30	-28.45	-6.08
BANDHAN BANK	481.00	-31.15	-6.08

1:21 PM

Oil & Gas stocks recover

1:15 PM

Asia shares swoon to 19-month lows

 

MSCI’s broadest index of Asia-Pacific shares outside Japan was off 3.8 per cent around 0500 GMT, and earlier touched its lowest level since March 2017. Japan’s Nikkei ended down 3.9 per cent its steepest daily drop since March, while the broader TOPIX lost around $207 billion in market value, falling 3.5 per cent. Shanghai shares dropped 4.9 per cent, on track for their worst day since February 2016, to their lowest level since late 2014, while China blue chips slid 4.4 per cent.

1:02 PM

Currency check Rupee recovers 21 paise from day's low, trading at 74.27/$

1:00 PM

Market check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	34,301.31	-459.58	-1.32
S&P BSE SENSEX 50	10,787.91	-144.21	-1.32
S&P BSE SENSEX Next 50	30,432.89	-423.22	-1.37
S&P BSE 100	10,546.84	-141.84	-1.33
S&P BSE Bharat 22 Index	3,281.18	-23.39	-0.71

12:50 PM

YES Bank surges 15% intra-day ahead of its CEO search committee meeting

 

YES Bank has moved higher by 15% to Rs 268 on the BSE in intra-day trade ahead of the first meeting of the search & selection committee today for finalization of the advisory firm. The stock bounced back 24% from its intra-day low of Rs 217. The private sector lender on Friday after market hours had said that it has invited proposals from global leadership advisory firms and will finalise the company in the committee’s first meeting, which is scheduled to be held on October 11. Read More

12:40 PM

Regulatory checks help fund houses tide over credit and liquidity crises

 

Mutual funds are in a relatively better position to navigate liquidity and credit setbacks than they were a few years ago owing to a slew of regulatory changes effected in the past few years. “On the whole, the system has become much less risky in terms of both its liquidity and credit profile,” said R Sivakumar, head – fixed income, Axis Mutual Fund. The pain from holding IL&FS papers, for instance, would have been much more had it not been for the regulator’s revised sectoral cap norms, say experts. Read More

12:30 PM

MARKET COMMENT Rahul Sharma, Sr. Technical Research Analyst, Equity99

 

India which was considered a relatively safe market a few weeks ago and now is fast losing its position after the INR plunged to a record low and crude oil prices soared to new highs. Nifty Support Levels 10050-10030, 9950-9930 If at all support levels are breached we must get ready for a longer bearish move.It will be a big task for the market to get over Bullish mode as recovery is not so easy at this point. Global Factors, Crude Oil Prices, Rupee getting weaker now at the rate of 74.41 and upcoming events like 2019 elections plays an important role for the current and upcoming situations in the market, We will advise to be cautious on new investments in the market. 

12:20 PM

S&P BSE 500 index hits fresh 52-week low

 

The S&P BSE 500 index hit a fresh 52-week low of 13,454, down 3% on Thursday in early morning trade after Wall Street suffered its worst drubbing in eight months. The index fallen below its previous low of 13,463 touched on October 8, 2018 in intra-day trade. The stocks from the financial including banks, metal, real estate, auto ancillaries and information technology (IT) were hit the worst, falling by up to 8% on the BSE. Read More

 

12:10 PM

Market falls trigger different behaviour among investors
 

The Nifty has dropped over 1,300 points from its peak, a retraction of 11 per cent. Smaller stocks are down even more. Importantly, all the major stock indices, the Nifty, Sensex, Nifty Next 50, Nifty 500, and the Midcaps, Smallcaps, etc, have broken down below their respective 200-day moving averages. This indicates a broad bear market which reflects bearish sentiments across most investor classes. Read More

12:00 PM

Market check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	34,034.45	-726.44	-2.09
S&P BSE SENSEX 50	10,710.07	-222.05	-2.03
S&P BSE SENSEX Next 50	30,271.87	-584.24	-1.89
S&P BSE 100	10,473.76	-214.92	-2.01
S&P BSE Bharat 22 Index	3,260.92	-43.65	-1.32

11:50 AM

How are capital gains on equities taxed?

 

When you own equity shares, there are two kinds of incomes that are generated. Firstly, there are dividends that are earned by you on a regular basis when the company pays out the dividends. Most profitable companies do pay out dividends to shareholders. The second source of income from equities comes from capital gains. Capital gains represent the profits made on the sale of shares and represent the excess of the sale price less the purchase price. The chart below captures the essence of capital gains and capital losses. Read More

11:40 AM

Nifty PSU Bank index trading over 5% down weighed by SBI

11:30 AM

Graphite India, HEG extend rally in a weak market on strong outlook

 

Shares of graphite electrode (GE) manufacturing companies such as Graphite India and HEG were trading higher by up to 9% in an otherwise weak market on the expectation of strong earnings growth.

 

Graphite India was locked in upper circuit for the second day in a row, up 5% at Rs 871 on the BSE. A combined 914,725 equity shares changed hands and there were pending buy orders for 313,348 shares on the NSE and BSE. Read More

11:21 AM

MARKET COMMENT Mustafa Nadeem, CEO, Epic Research

 

It's a bear momentum we are in and that particular momentum when is seen in a long-term bullish trend every reversal with a bullish sentiment is played in favor of bulls. But there was no confirmation technically that this pullback may last long. The reasons that can be contributed are many. Globally markets weren't making new highs while Asian markets such as Nikkei, STI and other important indices were as well struggling. So this was a major part that came in. Derivatives data did suggest that the range for Nifty is 10400 - 10500 Max on the upside and 10100 on the downside and it could be uglier with that big a range. And Bottom fishing would have been much riskier. 

 

11:10 AM

Strong growth in base biz powers Zee Entertainment's show in Sep quarter

 

Worries about the higher scale of investments in the digital vertical taking a toll on margins were put to rest, at least in the September quarter, as Zee Entertainment reported better-than-expected financials. Aided by strong base business growth, operating profit margins came in at 34 per cent, up 300 basis points as compared to the year-ago number.

 

Analysts had expected the number to be in the 30-31 per cent mark. Profit at the operating level was up 37 per cent, despite the continued high programming costs that were up 25 per cent year-on-year. READ MORE

11:00 AM

Investors should use rallies to exit weaker NBFC stocks, say experts

 

Stocks of non-banking finance companies (NBFCs), among the biggest losers in the recent carnage, undoubtedly benefitted from Wednesday’s market rally, as they gained up to 16 per cent. The good spell did lift these well above their 52-week lows.

 

Yet, experts urge investors to use such rallies to exit from the weaker names. READ MORE

10:50 AM

Sensex Heatmap