MARKET WRAP: Indices end lower, Nifty settles at 10,930; YES Bank falls 10%

In broader markets, the S&P BSE MidCap fell 1.6 per cent to settle at 14,763, while the S&P BSE SmallCap declined 3.4 per cent to end at 14,431.

3:37 PM

Sectoral gainers and losers on NSE

3:34 PM

BSE Sensex: YES Bank, Hero MotoCorp among top losers of the day

3:31 PM

Market at close

 

The S&P BSE Sensex ended at 36,227, down 97 points, while the broader Nifty50 index settled at 10,930, down 47 points.

3:19 PM

Gold hits six-week trough; set for longest monthly losing streak in two decades

Gold hit a fresh six-week low on Friday as the dollar firmed after upbeat U.S. economic data supported the Federal Reserve's resolve for steady interest rate hikes, putting the metal on track for its longest monthly losing streak since January 1997. Gold was down about 1.6 percent in September, its sixth straight monthly loss.

 

Spot gold was flat at $1,182.48. The metal touched its lowest since Aug. 17 at $1,180.34 an ounce earlier in the session, dipping further from a six-week low of $1,181.61 hit on Thursday. READ MORE

3:06 PM

Diagnostics firm Metropolis Healthcare files IPO draft papers with Sebi

Diagnostics company Metropolis Healthcare has filed its draft papers with market regulator Sebi for its initial public offering (IPO).

 

The IPO is of up to 1,52,69,684 equity shares, consisting an offer for sale of up to 50,17,868 equity shares by Sushil Kanubhai Shah and up to 1,02,51,816 equity shares by CA Lotus Investments, according to the draft red herring prospectus (DRHP) filed with the Sebi. READ MORE

2:47 PM

YES Bank, Maruti Suzuki, Eicher Motors, Hero MotoCorp hit 52-week lows

Shares of four companies – YES Bank, Maruti Suzuki, Eicher Motors and Hero MotoCorp – from the Nifty 50 index hit their respective 52-week lows on the National Stock Exchange (NSE) on Friday in intra-day trade. Shares of YES Bank hit an over two-year low of Rs 184, down 9% on the BSE in intra-day trade, falling 50% in past one month. The stock of private sector lender was trading at its lowest level since May 10, 2016. READ MORE

2:27 PM

ICICI Securities on banking sector

 

The financial services sector has entered turbulent times after a phase of strong lending growth, particularly in NBFCs and HFCs. Amid concerns on high slippages, frauds and NPA divergences, PSU banks continued to remain under pressure (down 19.1% YTD) while private banks continued their outperformance. NBFCs, on the other hand, have outperformed the banking sector led by balance sheet growth and profitability. Hence, they traded at higher P/B multiples. Therefore, their witnessing a sharp correction in recent sessions on the back of concerns over liquidity tightness in money market and higher cost of funds is somewhat justified. The fall was triggered after reports that Infrastructure Leasing & Financial Services (IL&FS) had defaulted on its repayments.

2:21 PM

Infibeam extends slide, bleeds 63% 

2:13 PM

Over 350 stocks are locked in lower circuit today

Security Group	Upper Circuit	Lower Circuit	Total
A	0	5	5
B	5	71	76
M	1	8	9
P	2	1	3
T	8	77	85
X	32	86	118
XT	52	106	158
Total	100	354	454

(Source: BSE)

2:02 PM

Market Check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	36,196.79	-127.38	-0.35
S&P BSE SENSEX 50	11,386.87	-82.21	-0.72
S&P BSE SENSEX Next 50	31,558.95	-710.46	-2.20
S&P BSE 100	11,102.68	-105.72	-0.94
S&P BSE Bharat 22 Index	3,461.90	-30.01	-0.86

(Source: BSE)

1:59 PM

Kotak Institutional Equities on technology sector

Accenture reported an exceptional August 2018 quarter (4QFY18) with 11% revenue growth in constant currency (c/c). After growing at 10.5% in c/c in FY2018 (8% on organic basis), Accenture has guided for 5-8% revenue growth in FY2019. The moderation bakes in a more volatile global environment. Read-through for Indian IT — the demand environment is robust. Companies with strong digital competencies and portfolio aligned to growth areas will likely report strong growth.

1:58 PM

Elara Capital on Cipla

Recent niche approvals in the US add comfort on Cipla’s ability to grow its US business, and this reinforces our stance that growth drivers are intact and likely to be reflected in near-term earnings. We expect earnings to improve, given the US scale-up, reducing cost and business rationalization. The new team aims to focus on 20 core markets.

To add to its pipeline of 101 ANDA pending approvals, the firm is building a pipeline in respiratory generics and complex oncology injectables to be monetized from FY19. We reiterate Accumulate with a new target price of Rs 680 from Rs 663 on 23x (from 24x) September FY20E P/E. We have broadly kept our estimates for FY19-20 unchanged and we introduce FY21 estimates.

1:56 PM

HEAT MAP (SENSEX)

1:44 PM

NEWS ALERT Poll panel to announce election schedule for 5 states next week, according to TV reports

1:34 PM

NEWS ALERT Finance minister Jaitley: GST revenue buoyancy in consuming states over 14%

1:33 PM

NEWS ALERT Finance minister Jaitley: Moving in the direction to meet FY19 target under GST

1:27 PM

Market Check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	36,401.74	+77.57	+0.21
S&P BSE SENSEX 50	11,518.93	+49.85	+0.43
S&P BSE SENSEX Next 50	32,157.36	-112.05	-0.35
S&P BSE 100	11,244.19	+35.79	+0.32
S&P BSE Bharat 22 Index	3,502.48	+10.57	+0.30

(Source: BSE)

1:26 PM

NEWS ALERT Finance minister Jaitley: State deficit have come down to 13%

1:25 PM

NEWS ALERT Finance minister Jaitley: Most items on agenda were procedural

1:22 PM

NEWS ALERT Finance minister Jaitley: Detailed presentation made with respect to GST revunue mop-up

1:21 PM

NEWS ALERT Finance minister Jaitley: No revenue shortfall in north-eastern states

1:20 PM

NEWS ALERT Finance minister Jaitley: Discussed revenue position at GST council meet

12:50 PM

RBI may further pare G-sec buybacks, cut borrowings in second half of FY19

 

The reduction is likely to come in form of lesser buybacks, with no expected change in issuances of government Officials from the Finance Ministry and Reserve Bank of India will meet in New Delhi on Friday to decide the borrowing calendar for October-March. READ MORE

12:35 PM

Most active stocks in terms of volume on BSE

COMPANY NAME	LATEST	HIGH	LOW	CHG ( )	CHG(%)	VALUE (  CR)	VOLUME
GMR INFRA.	16.50	17.00	16.35	-0.25	-1.49	22.29	13511236
INFIBEAM AVENUES	95.45	190.00	83.70	-102.10	-51.68	98.49	10318719
YES BANK	187.15	207.85	184.45	-16.05	-7.90	84.35	4506988
JP ASSOCIATES	7.08	7.57	7.01	-0.41	-5.47	2.87	4051083
REL. COMM.	12.00	12.70	11.80	-0.45	-3.61	3.69	3076548

12:30 PM

Global Markets
 

Nikkei hits 27-year high on strong dollar, Wall Street gains

Japan's Nikkei hit a 27-year high on Friday, taking heart from a boost for the dollar after the Federal Reserve chairman said he did not expect a near-term recession, and strong gains on Wall Street overnight. READ MORE

 

12:22 PM

Apollo Tyres hits fresh 52-week low; analysts see more downside

Shares of Apollo Tyres hit a fresh 52-week low on Friday on reports that the minority shareholders of the company have rejected the re-appointment of Neeraj Kanwar as the managing director (MD). READ MORE

12:10 PM

JUST NOW

Metropolis Healthcare files offer document for IPO: News reports

12:00 PM

Market at Noon

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	36,494.93	+170.76	+0.47
S&P BSE SENSEX 50	11,514.54	+45.46	+0.40
S&P BSE SENSEX Next 50	32,159.61	-109.80	-0.34
S&P BSE 100	11,240.79	+32.39	+0.29
S&P BSE Bharat 22 Index	3,501.32	+9.41	+0.27

(Source: NSE)

11:45 AM

United Breweries hits record high; up 12% in one week

Shares of United Breweries (UBL) hit a record high of Rs 1,464, up 3% on the BSE in early morning trade in an otherwise subdued market. The stock has outperformed the market by gaining 12% during the current week, as compared to a 1.2% decline in the S&P BSE Sensex. Since July 30 (Q1FY19), post-June quarter results, UBL have rallied 30% against 3% fall in the benchmark index. READ MORE

11:30 AM

Motilal Oswal Securities on Titan

Titan’s (TTAN) stock price has corrected by 12% since the release of its 1QFY19 earnings (and ~18.5% from peak), led by the slight downward revision in its Jewelry business growth guidance for FY19 due to volatile gold prices and concerns about a possible hike in gold import duty.
 

While volatility in gold prices will lead to near-term fluctuations in guidance, the structural story of 20% CAGR over the next five years remains intact. Moreover, sharply increased exchange sales (at 43% of sales v/s 15% in 2013) insulate TTAN (relative to peers) from any adverse impact of gold import curbs. This, in fact, places the company well to eat into the share of peers amid a volatile gold price environment.