MARKET WRAP: Indices erase early gains to end flat; Ashok Leyland sheds 10%

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3:35 PM

Market at close

The S&P BSE Sensex ended marginally lower at 35,142, down just two and half points while NSE's Nifty50 index slipped below the crucial 10,600 level to settle at 10,576, down 6 points.

3:29 PM

NEWS ALERT: PC Jeweller stock drops 5% as net profit drops 37.8 per cent to Rs 0.937 billion

2:58 PM

Zee Entertainment turns volatile as promoters plan to sell stake

 

Shares of Zee Entertainment Enterprises (ZEEL) turned volatile after falling 4 per cent to Rs 420 on BSE in early trade on Wednesday as on Tuesday company announced that its promoters led by Subhash Chandra planning to sell up to 50 per cent of their equity stake in the company to a strategic partner. Read more

2:46 PM

Why global funds are once again warming up to India's sovereign bonds

 

Global funds are warming up to India’s sovereign bonds after shunning them for most of this year. Whether the interest will sustain depends on the price of oil, the nation’s top import. Overseas holdings have risen 80.1 billion rupees ($1.1 billion) in the previous three weeks, data from the Clearing Corporation of India Ltd. show. Read more

2:34 PM

Oil prices, not 2019 election key risk for Indian market: CLSA's Chris Wood

 

Despite the headwinds in the form of oil prices, monetary tightening, state and general elections, Indian equities face over the next one year, CHRISTOPHER WOOD, managing director and equity strategist at CLSA tells Puneet Wadhwa at their 21st India Forum that he is not altering his allocation to Indian equities just yet. The Narendra Modi government, he says, is right in complaining about the RBI's tight monetary policy given the inflation data. Click here to read full interview

Christopher Wood, CLSA

 

2:20 PM

Adani Transmission, AU Small Finance up over 9% on inclusion in MSCI index

 

Shares of Adani Transmission, Equitas Holdings, AU Small Finance Bank, Westlife Development and Future Consumer climbed up to 10 per cent on Wednesday on the back of heavy volumes following a rejig in MSCI Global Small Cap index. MSCI, which maintains and calculates indices, have added 13 and removed 37 stocks from its MSCI Global Small Cap index. Read more

2:06 PM

NEWS ALERT Gautam Singhania steps down as Chairman of Raymond Apparel; Nirvik Singh appointed as Non-executive Chairman. Stock drops 5%

1:52 PM

NEWS ALERT: Winter session of Parliament likely from Dec 11 - Jan 11

1:45 PM

NEWS ALERT SpiceJet Q2: Net loss widens to Rs 3.89 bn vs Rs 1.05 bn year-on-year; stock trades over 4.5% higher

1:30 PM

Top gainers in BSE 500

COMPANY	LATEST	PREV CLOSE	GAIN( )	GAIN(%)	VOLUME
TATA INV.CORPN.	797.20	702.40	94.80	13.50	63532
ADANI TRANSMISSI	190.55	173.25	17.30	9.99	75844
AU SMALL FINANCE	579.05	536.65	42.40	7.90	34240
SCHNEIDER ELECT.	114.05	105.85	8.20	7.75	88078
TATA METALIKS	700.00	653.30	46.70	7.15	33755

1:15 PM

Fundraising through rights issue hits 10-year high, QIPs see a fall

 

Fundraising through the rights issue route has hit a 10-year high this year. So far, nine companies have raised Rs 178.6 billion — nearly three times (2.7 times to be precise) of last year’s tally — by way of rights issues. Investment bankers said with weakness in the broader market and spike in volatility, companies have been forced to look at rights issues over the preferred qualified institutional placement (QIP), another way of raising capital where shares are privately placed to a set of investors. Read more

1:00 PM

S&P BSE Sensex top gainers and losers

12:44 PM

NEWS ALERT Kalpataru Power bags order worth rs 1,322 cr; stock rises over 3%

12:38 PM

Tata Investment Corporation surges 18% as board mulls share buyback

 

Shares of Tata Investment Corporation surged 18 per cent to Rs 828 on BSE in the intra-day trade on Wednesday after the company said it's board will consider share buyback proposal at its meeting to be held on Friday, November 16, 2018. Read more

 

12:29 PM

NEWS ALERT: Moody's cuts Tata Motors rating to negative from stable; stock trades flat at Rs 180

12:15 PM

Sun Pharma hits three-month low post Q2 results; drops 10% in three days

 

Shares of Sun Pharmaceutical Industries hit three-month low of Rs 533, down 5 per cent on BSE, after the company posted a consolidated loss of Rs 2.18 billion for the quarter-ended September (Q2FY19), on account of a one-time loss of Rs 12.14 billion on Modafinil antitrust litigation. Read more

 

12:07 PM

NEWS ALERT October WPI inflation comes in at 5.28% Vs 3.59% year-on-year; Sept nos stood at 5.13%

12:04 PM

Market check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX
S&P BSE SENSEX 50	11,100.58	+43.77	+0.40
S&P BSE SENSEX Next 50	32,167.06	+141.34	+0.44
S&P BSE 100	10,896.31	+43.73	+0.40
S&P BSE Bharat 22 Index	3,483.10	+24.47	+0.71

12:02 PM

NEWS ALERT Motherson Sumi reports Q2FY19 net profit at Rs 4.95 bn vs Rs 5.93 bn year-on-year

11:44 AM

ICICI Bank hits all-time high; stock up 42% from July low

 

Shares of ICICI Bank hit an all-time high of Rs 366.20, up 1.5 per cent on Wednesday, extending its Tuesday’s 2.4 per cent gain on BSE. The stock of private sector lender surpassed its previous high of Rs 365.65 recorded on January 29, 2018, in the intra-day trade. It has rallied 42 per cent from its 52-week low of Rs 257 hit on July 16 this year. Read more

11:30 AM

Sebi issues stricter disclosure regime for credit rating agencies

 

The Securities and Exchange Board of India (Sebi) on Tuesday issued stricter disclosure guidelines for credit rating agencies (CRAs). Under the new framework, CRAs will have to make nuanced disclosures on factors such as promoter support, linkages with subsidiaries and liquidity position for meeting near-term payment obligations. Read more

11:13 AM

Coal India: Earnings momentum gaining pace on high realisations

 

Even as Coal India remains in the news given the government’s concerns of not achieving its targeted production and sales, as well as the company’s September quarter (Q2) performance falling a tad short of estimates, there is cheer for investors. Read more

 

11:00 AM

NEWS ALERT NCLAT holds UltraTech's offers for Binani Cement, approves UltraTech's offer, as per TV reports; Binani Industries jumps 10%

10:52 AM

Nifty IT index is trading over 2.5% lower weighed by HCL Tech

10:45 AM

OMCs gain on fall in crude prices; HPCL, BPCL, IOC advance up to 12%

 

Shares of oil- related sectors such as oil marketing, paints and aviation companies rallied up to 12 per cent on BSE in the morning trade, following a sharp fall in the global crude prices due to ongoing worries over weakening demand and oversupply. Read more

10:29 AM

The Final Milestone: One of India's early PE investors sells last two funds

 

Think of it as the last remaining milestone. After negotiating for six months, Milestone Capital Advisors sold its last remaining assets this Monday for an undisclosed amount to Edelweiss Alternative Asset Advisors — an asset management arm of Edelweiss Financial Services. Read more

10:18 AM

Ashok Leyland falls 9% after Vinod Dasari steps down as CEO

 

Shares of Ashok Leyland dipped 9 per cent to Rs 108 on BSE in the early morning trade after Vinod K Dasari has quit as Managing Director and Chief Executive Officer of the company, effective March 31, 2019. The stock was trading close to its 52-week low of Rs 103, touched on October 5, 2018 in the intra-day trade. Read more

10:12 AM

Sun Pharma down 4% post earnings

10:00 AM

Market check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	35,068.72	-75.77	-0.22
S&P BSE SENSEX 50	11,037.72	-19.09	-0.17
S&P BSE SENSEX Next 50	31,976.56	-49.16	-0.15
S&P BSE 100	10,834.14	-18.44	-0.17
S&P BSE Bharat 22 Index	3,468.37	+9.74	+0.28

9:48 AM

Avaition stocks gain on fall in crude prices