MARKET WRAP: Indices reverse losses to end in green, Nifty reclaims 10,900

The S&P BSE Sensex ended at 36,347, up 77 points or 0.2 per cent, while NSE's Nifty50 index reclaimed the crucial 10,900 level to sign off the day at 10,909, up 20 points or 0.2 per cent.

3:37 PM

Sectoral gainers and losers of the day on NSE

3:36 PM

BSE Sensex: gainers and losers of the day

3:33 PM

Market at close

 

The S&P BSE Sensex ended at 36,347, up 77 points or 0.2 per cent, while the broader Nifty50 index settled at 10,909, up 20 points or 0.2 per cent.

3:28 PM

BUZZING STOCKS | Liquor stocks in focus; United Breweries, Globus Spirits up over 5%

 

Globus Spirits surged 8% to Rs 166 on the BSE on the back of a two-fold jump in trading volumes. A combined 208,468 equity shares changed hands on the counter on the BSE and NSE till 03:00 pm. READ MORE

3:16 PM

Russia signals oil output decline in 2019 after 10 years of growth

Russia's oil output may decline next year due to a global reduction pact, Energy Minister Alexander Novak said on Tuesday, possibly halting an uninterrupted decade-long run of growth. READ MORE

2:59 PM

SEBI chief laments slow pace of IPOs hitting market

 

The chief of India’s capital market regulator on Tuesday expressed concerns about the slow pace of initial public offerings (IPOs) hitting the market despite approval for filings worth around 600 billion rupees ($8.43 billion). However, Ajay Tyagi, the chairman of Securities and Exchange Board of India (SEBI), cautioned that pricing of IPOs should be done more carefully in volatile times. Fund raising by small-and-medium-sized companies have doubled as against last year, Tyagi said addressing an investment banking event in the city.

2:49 PM

NEWS ALERT | HDFC MF buys additional 0.97 per cent stake in co via open market; stock up nearly 4%

2:38 PM

NBFCs stare at valuation hurdle, IPOs in pipeline may see tepid interest

 

Initial public offerings (IPOs) of non-banking finance companies (NBFCs) will find market headwinds a hindrance to their valuations even as a big question mark hangs over investments in excess of $2 billion made by private equity (PE) and venture capital (VC) funds in them over the past three years. Investment bankers say the change in the growth perception and business models of NBFCs after the blowout at Infrastructure Leasing & Financial Services will force them to re-align valuations. Read more

2:26 PM

Nifty Metal index is trading 0.53% higher

2:19 PM

Sebi lays down more robust risk management framework for equity derivatives

 

Regulator Sebi Monday put in place a more robust risk management framework with regard to margin system for the equity derivatives segment. The framework has been prepared on the basis of recommendation by Sebi's Risk Management Review Committee. Read more

2:05 PM

Avenue Supermarts nears record high; zooms 45% in 8-weeks

 

Shares of Avenue Supermarts (ASL), which owns and operates D-Mart supermarket chain, were up 2% to Rs 1,649 a piece, trading close to its record high level of Rs 1,682 touched on August 2, 2018, on BSE. In the past eight weeks, since October 23, the stock outperformed the market by surging 45% from Rs 1,136, as compared to a 7% rise in the S&P BSE Sensex. Read more

1:55 PM

Top gainers and losers in S&P BSE Sensex

1:34 PM

Zee Entertainment records sharpest intra-day fall in two months; falls 6%

Shares of Zee Entertainment Enterprises (ZEE) dipped 6% to Rs 474 per share, their sharpest intra-day fall on the BSE in past two months as growth trends in over-the-top (OTT) content and concerns related to the rise in cost may hit the profitability of the company. The stock was the top loser in the Nifty 50 index at 12:09 pm, recording its sharpest decline since October 5, 2018. READ MORE

1:15 PM

NTPC, Power Grid Corporation get relief from tariff, returns overhang

The Central Electric Regulatory Commission's (CERC’s) draft regulation for April 2019-24 allays major concerns of the Street on regulated rate of returns for power utilities. Against the expectations of significant dilution in the regulated returns, the regulator proposed to keep them unchanged at 15.5 per cent for both generation and transmission. READ MORE

1:01 PM

NEWS ALERT Rupee hits 1-week high of 71.12 per dollar

12:59 PM

Credit Suisse bets on industrial stocks for 2019; L&T, BHEL are top picks

 

Swiss financial services company Credit Suisse is betting on industrial stocks for 2019, though the sector has underperformed the market in the past three years, despite posting good earnings growth, said the brokerage. The fortunes of industrial stocks hinge on construction and manufacturing. Read more

12:56 PM

NEWS ALERT Finance Minister Arun Jaitley says government did not seek resignation of Urjit Patel

12:56 PM

NEWS ALERT | Mindtree bags digital testing services order from BBC; stock down 3%   

12:47 PM

Top losers in BSE500

COMPANY	PRICE( )	CHG( )	CHG(%)	VOLUME
ZEE ENTERTAINMEN	475.10	-27.55	-5.48	150714
S H KELKAR & CO.	174.45	-6.20	-3.43	1840
WELSPUN CORP	150.55	-4.65	-3.00	18065
MINDTREE	845.40	-25.35	-2.91	36526
BALMER LAWRIE	203.00	-5.85	-2.80	13283

12:26 PM

IndiGo: Capacity addition, lower costs should lead to market share gains

 

Drop in fuel prices, easing competitive intensity, and market share gains are expected to help InterGlobe Aviation (IndiGo) improve its profitability in the coming quarters. While fuel prices are down sharply over the past three months, tariffs, too, have seen an uptick. Brokerages believe that fares have started registering a growth over the year-ago period after registering a decline earlier. Yields or ticket revenues per seat km had declined by about 9 per cent in the June and September quarters. Read more

12:15 PM

WEB EXCLUSIVE What to infer from VIX- the volatility gauge

 

Your general memories of the volatility index (VIX) must be of the sharp rise in the VIX during times of extreme volatility or global geopolitical crisis. This is a trend we have seen quite often in the Indian markets. The Volatility Index (VIX) is also popularly referred to as the Fear Index as it shows the amount of fear in the market and that is why a high VIX is normally indicative of a panic in the market and is a precursor to a sharp fall in the markets. In fact, if you plot the VIX chart and the Nifty chart, you will find a clear negative correlation between them as markets tend to be positive when the VIX is under control. Click here to read more
 

12:06 PM

Edelweiss Securities on Ashoka Buildcon

 

Ashoka Buildcon (ASBL) has announced Morgan Stanley India Infrastructure (MSII) has committed Rs 1.5bn in equity in its city gas distribution (CGD) arm, Unison Enviro (UEPL). ASBL and MSSII will hold 51:49 stake in UEPL with corresponding equity infusion in line with their respective stakes. With UEPL needing nearly Rs 1.6 billion in equity for its current projects, the partnership is likely to be sufficient not only to fund its existing projects, but also to grow its portfolio by winning new projects. We view this development as a major positive for ASBL — allowing it to scale up the CGD business while reducing the strain on balance sheet. Maintain ‘BUY’ with a Sum of the parts analysis (SOTP)‐based target price (TP) of Rs 201.

12:04 PM

Market check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	36,119.35	-150.72	-0.42
S&P BSE SENSEX 50	11,354.55	-47.91	-0.42
S&P BSE SENSEX Next 50	32,515.63	-37.52	-0.12
S&P BSE 100	11,125.58	-41.96	-0.38
S&P BSE Bharat 22 Index	3,444.92	+4.13	+0.12

11:49 AM

NEWS ALERT BofAML downgrades Zee Entertainment; Stock slips 5%

11:46 AM

NEWS ALERT SEBI Chairman, Ajay Tyagi says sent show cause notices to three credit rating agencies in IL&FS Case

11:44 AM

Nifty PSU Bank index gains for sixth straight session; PNB, BOI up 3%

 

Shares of public sector undertaking (PSU) banks were trading higher for the sixth straight trading session after Shaktikanta Das was named as the 25th governor of the Reserve Bank of India (RBI) last week. Oriental Bank of Commerce, Bank of India, Union Bank of India, Syndicate Bank, UCO Bank, Central Bank of India, Canara Bank, Indian Bank and Allahabad Bank were up in the range of 2% to 4% in an otherwise weak market. Read more

11:30 AM

Bombay Dyeing hits 5% upper circuit as firm decides to shut down subsidiary

Shares of Bombay Dyeing & Mfg Company hit the upper circuit of 5 per cent after the textile company decided to shut down its loss-making Indonesian subsidiary PT Five Star Textile Indonesia (PTFS).

 

The closure is expected to be completed by December 31, 2019, the company said in an exchange release. READ MORE

11:18 AM

Top gainers and losers in S&P BSE Sensex

11:02 AM

Top losers in BSE 500:

COMPANY	PRICE( )	CHG( )	CHG(%)	VOLUME
8K MILES	149.10	-7.80	-4.97	101500
ZEE ENTERTAINMEN	485.10	-17.55	-3.49	56896
MINDTREE	843.50	-27.25	-3.13	25125
WELSPUN CORP	150.70	-4.50	-2.90	9828
KWALITY	8.13	-0.24	-2.87	650960

10:45 AM

IL&FS Transportation hits upper circuit as parent firm initiates divestment

 

Shares of IL&FS Transportation Networks (ITNL) hit upper circuit limit of 5 per cent to Rs 11.55 on Tuesday after the Infrastructure Leasing and Financial Services (IL&FS) board said it has initiated the process to explore divestment of the group’s interest in road assets and business. Read more