Sensex, Nifty end flat as investors on edge ahead of Q2 earnings season

Catch all that happened in the market today

3:45 PM

Market rundown by Vinod Nair, Head of Research at Geojit Financial Services 

 

Market is facing resistance around 10k mark as participants are waiting on the sideline and awaiting earnings season for more clarity on direction. Earnings growth for the second quarter is likely to be subdued but on a QoQ basis it will be better. Sectors like Finance, Metals, Mining, Infra, Defence and Chemical are expecting some pick up which could limit a sharp cut in earnings forecast for FY18.

3:43 PM

Realty shares in focus

 

Shares of realty companies have rallied by up to 20% on the BSE in intra-day trade after the real estate developer Sobha reported a good set of new sales volumes in July-September 2017 quarter (Q2FY18).

 

Besides Sobha, Purvankara, Ajmera Realty & Infra India and Marathon Nextgen have surged between 12% and 19% on the BSE. Kolte-Patil Developers, Anant Raj Industries, Prestige Estates and Delta Corp, Simplex Realty were up in the range of 3% to 4%.

3:41 PM

FMCG index gains

Source: NSE

3:39 PM

Sectoral Trend: Realty and FMCG indices led the gains

Source: NSE

3:37 PM

Top gainers and losers on BSE Sensex

Source: BSE

3:34 PM

Broader Markets

In broader markets, BSE midcap index was a little changed (down 0.04%) while the BSE Smallcap index outperformed the frontline indices, up 0.6% 

3:32 PM

Markets at Close

In a choppy session, benchmark indices end flat but continued a steady recovery from recent losses, with consumer sector leading the way, but gains were capped as corporate results kick off later this week.

The S&P BSE Sensex settled the day at 31,846, up 32 points while the Nifty50 index ended at 9,989, up 9 points

3:19 PM

Dwarikesh Sugar expects sales to rise

Dwarikesh Sugar Industries expects sales to rise by up to 15 percent in the 2017/18 crop year as production in Uttar Pradesh could jump to a record high, a top company executive said on Monday.

 

Farmers in the country's top sugar producing state where the company has its operations, have adopted an early-maturing cane variety that has boosted productivity, said Vijay Banka, the chief financial officer of the company.

3:09 PM

USFDA Nod

Marksans Pharma share price rallied 8% in intraday on receipt of establishments inspection report for Goa plant.

 

The Mumbai-based pharma company informed exchanges that it has received establishments inspection report from the US Food and Drug Administration for Goa facility.

 

2:55 PM

BUZZING STOCK

Jaiprakash Associates rose as much as 3.8% after the company approved transfer of certain assets and liabilities to unit Jaypee Infrastructure Development.

2:39 PM

Note ban, GST made career's last year most eventful: Arundhati Bhattacharya

 

Arundhati Bhattacharya, who recently retired as the chairman of State Bank of India, the country’s largest bank, believes the problem of bad loans banks have been facing would be solved shortly. “I regret not seeing the end of the NPA (non-performing asset) story,” she says.

 

In an interview published in the Times of India on Monday, Bhattacharya, who served at the helm of SBI for four years, spoke on a range of issues – from NPAs to her winning mantra and her experiences as the first woman head of SBI. Click Here for are the highlights of her interview

Arundhati Bhattacharya, Illustration: Ajay Mohanty

2:18 PM

These 15 stocks from BSE Smallcap index surge over 25% in 5 trading days

 

TVS Electronics, HEG, Ramky Infrastructure, Graphite India, Gujarat Alkalies & Chemicals, Arshiya and Gujarat Narmada Valley Fertilizers & Chemicals (GNFC) are among 15 stocks from the S&P BSE Smallcap index, which rallied more than 25% in first five trading days of the current month.

 

Thus far in the month of October, the S&P BSE Smallcap index has outperformed the market by gaining 3.6% as compared to 2.5% rise in the S&P BSE Midcap and 1.7% gain in the benchmark S&P BSE Sensex. READ MORE

2:00 PM

Market Check

Benchmark indices were trading marginally higher in the afternoon deals as investors stayed on edge ahead of September-quarter earnings season.

 

At 2:00 pm, the S&P BSE Sensex was trading at 31,902, up 88 points, while the broader Nifty50 was ruling at 9,995, up 16 points.

1:44 PM

Sobha surges 9% on September-quarter sales volumes

Sobha surged 9% to Rs 426 on the BSE in intra-day trade after the company said that it achieved new sales value of Rs 593 crore in July- September quarter (Q2FY18) was the highest in the past 10 quarters. The real estate developer had reported sales value of Rs 518 crore in the same quarter last fiscal.

 

“The company achieved new sales volumes of 861,084 square feet total valued at Rs 675 crore with an average realisation of Rs 7,840 per square feet in second quarter. Sales volume is marginally higher and total sales value is up by 22.5% as compared to Q2FY17,” Sobha said in an exchange filing.

1:29 PM

Gold Bonds in Focus

The government on Friday announced several changes that would increase the attractiveness of sovereign gold bonds.

 

The most important change is that these bonds will now virtually be available on tap, as the issue that opened on Monday will remain open until December 27. However, the long-tenure issue will see the setting of price on a weekly basis.

Click here for 5 reasons to invest in gold bonds

1:13 PM

Buzzing stock

 

Adani Enterprises lost over 4% to Rs 383 in intraday trade after large protests were held across Australia on Saturday against the company’s proposed Carmichael coal mine on environmental concerns.

12:58 PM

Economic growth to top 7% in next two quarters: Urjit Patel

 

Fostering monetary conditions conducive to economic growth were a constant consideration for Indian policymakers, but would not take priority over achieving the central bank's inflation target, Governor Urjit Patel told a newspaper on Monday. READ MORE 

12:34 PM

Markets reeling under problem of plenty?

 

It seems to be a problem of plenty in the Indian stock market, with foreign portfolio investors and domestic institutions acting almost in tandem in buying all available quality stocks, but the worry is who will be the buyer when these holdings get liquidated to book profit. READ FULL REPORT

12:21 PM

Markets check

At 12:20 am, the S&P BSE Sensex was trading at 31,836, up 22 points, while the broader Nifty50 was ruling at 9,983, up 3 points. 

11:56 AM

Small investors flock to IPOs

 

Small investors are chasing initial public offerings (IPOs) like never before. Of the past 10 IPOs which have hit the market, five have seen more than a million applications from them.   State-owned Cochin Shipyard’s IPO saw nearly two million applications, while the recently concluded one of Godrej Agrovet saw 1.5 million applications in the retail category, meant for investors applying for shares worth up to Rs 2 lakh. READ FULL ANALYSIS HERE 

11:36 AM

Buzzing stocks 

Shares of pumps manufacturers such as Shakti Pumps (India), Kirloskar Brothers, KSB Pumps and Roto Pumps have rallied by up to 12% on BSE in intra-day trade after the Goods and Service Tax (GST) on pump parts has been reduced from 28% to 18%. READ FULL REPORT

11:15 AM

Interview of the day

 

Amid rising worry over slowing economic growth, Nirmal Jain, chairman of IIFL, the financial services group, said that slowdown for a quarter or two is a small price to pay for the radical reforms implemented, as these would have a strongly positive impact on economic growth over the next five to 10 years. READ FULL INTERVIEW HERE

Nirmal Jain, Chairman, IIFL Group

11:02 AM

Markets check

At 11:00 am, the S&P BSE Sensex was trading at 31,889, up 75 points, while the broader Nifty50 was ruling at  10,001, up 21 points. 

10:45 AM

Buzzing stocks 

Shares of jewellery companies were trading higher by up to 9% on BSE in early morning trade on expectation of revival in sales after the government revoked an order that mandated PAN and Aadhaar cards for purchases above Rs 50,000. READ MORE

10:34 AM

Tata Teleservices closure may cost the group dear 

 

With the curtains likely to be drawn on Tata Teleservices soon, the group is staring at some serious challenges — paying debt of over Rs 28,000 crore to banks, deciding the fate of over 6,000 employees and battling the realisation that despite investing over Rs 50,000 crore (based on estimates) through the years, it would be able to recover little. READ FULL REPORT

10:20 AM

Buzzing stock

Sun Pharma Advanced Research (SPARC) has dipped 15% to Rs 332 on BSE in early morning trade after the company said its two pivotal phase III studies of Baclofen GRS for treatment of spasticity in patients with multiple sclerosis did not meet the primary end point in placebo controlled studies. READ MORE

10:00 AM

Nifty outlook by Angel Broking

If the Nifty50 manages to continue the positive momentum, then the index could extend the gains upto its resistances of 10,050-10,140. On the flipside, 9,880 is now a crucial support for this week, which if breached, could lead the index to resume the corrective trend to test the recent low. 

9:56 AM

Top five gainers as Nifty50 reclaims 10,000

Source: NSE

9:37 AM

Buzzing stock

 

Tata Teleservices tanked 15% following news reports that the Tata Teleservices is likely to wind down operations in phases, and has had discussions with the government. 

9:28 AM

Sectoral trend

Source: NSE