MARKET WRAP: Sensex rises 159 pts, Nifty ends at 10,686; IT, PSU banks gain

The Nifty IT index settled 1.43 per cent higher led by a rise in the shares of Infosys and Tata Consultancy Services (TCS)

3:36 PM

Top gainers and losers on NSE

3:36 PM

S&P BSE Sensex: Top gainers and losers

3:34 PM

Market at Close

 

The S&P BSE Sensex ended 159 points or 0.45 per cent higher at 35,513.14 while NSE's Nifty50 index added 57 points or 0.54 per cent to close at 10,686. 

3:22 PM

NEWS ALERT Moody's downgrades YES Bank's ratings; changes outlook to negative

Stock impact:

3:17 PM

Adani Transmission nears record high; stock zooms 62% in one month

 

Shares of Adani Transmission moved up by 5% to Rs 250 per share, extending their 39% rally in the past two weeks following the announcement of its addition in MSCI index. The stock was trading close to its all-time high level of Rs 252 touched on January 18, 2018, on the BSE in intra-day trade. READ MORE

3:03 PM

Oil slips on record Saudi output; markets eye G20 and OPEC meetings

Oil prices slipped on Tuesday, weighed down by record Saudi Arabian production even as OPEC's top producer pushes for supply cuts ahead of the group's meeting in Austria next week.

 

International Brent crude oil futures briefly dipped below $60 per barrel before rising back to $60.16 at 0814 GMT, still down 32 cents, or 0.5 percent, from their last close.

 

U.S. West Texas Intermediate (WTI) crude futures were at $51.18 per barrel, down 45 cents, or 0.9 percent. READ MORE

2:44 PM

HSBC upgrades Indian equity market to 'stable' from 'underweight'

 

Global financial services firm HSBC has upgraded its rating on Indian equity market to “neutral” from “underweight” on the back of recent corrections and more attractive valuations. Analysts at the bank have noted that since August-end, the Indian stock market has underperformed due to an array of headwinds, such as a free fall in the rupee and a volatility in crude oil prices, and that these risks still persist despite the underperformance. Read more

2:41 PM

NEWS ALERT Monte Carlo to consider share buyback on November 30

2:38 PM

Mirc Electronics rises 10% as company has started making television sets for Reliance Retail

2:30 PM

IRB Infra gains 9% in two days after rating upgrade

 

Shares of IRB Infrastructure Developers have moved higher by 5.5% to Rs 154 on Tuesday, extending its Monday’s 3.3% gain on the BSE, after the rating agency India Ratings and Research (Ind- Ra) revised the company’s outlook to positive from stable, while affirming its long-term issuer rating at ‘IND A+’. Read more

2:14 PM

Gold subdued ahead of Fed Chair speech, G20 summit

 

Gold prices inched lower on Tuesday as the dollar held firm, while investors awaited clues on the pace of future US interest rate hikes and as the U.S.-China trade spat sours ahead of a G20 summit. Spot gold inched 0.1 per cent lower to $1,220.97 per ounce. Read more

2:01 PM

S&P BSE Sensex gainers and losers

1:44 PM

Devangshu Datta Fall in oil prices may cause new worries

The last three weeks have seen the collapse of oil. Prices have fallen to 2018 lows and more falls may be on the cards. This has meant a stronger rupee and a favourable reassessment of external macros.

 

But there are different worries associated with a possible reduction of global growth rates. On the domestic front, there has been a patching up, perhaps only temporary, of the relationship between the Reserve Bank of India (RBI) and the government. Low GST collections imply that the government will either have to cut expenditure sharply or let the fiscal deficit expand. READ MORE

1:31 PM

Top gainers in BSE 500:

COMPANY	PRICE( )	CHG( )	CHG(%)	VOLUME
ZYDUS WELLNESS	1227.70	81.70	7.13	14200
UNICHEM LABS.	217.00	14.40	7.11	97066
V I P INDS.	516.90	29.35	6.02	157288
HIND.AERONAUTICS	835.50	47.15	5.98	9497
DCM SHRIRAM	359.60	18.60	5.45	18181

1:17 PM

India's October natural rubber imports jump 63 percent - Rubber Board

India's natural rubber imports in October jumped 63 percent from a year ago to 62,047 tonnes, the state-run Rubber Board said on Tuesday, as local consumption surged amid drop in overseas prices.

 

The country's consumption jumped 14.6 percent to 102,000 tonnes in October, while production rose 8.1 percent to 67,000 tonnes, the Board said in a statement. READ MORE

1:03 PM

Election, market uncertainty looms large over IPOs worth $2 billion

Election and market uncertainties are looming large over companies whose regulatory approvals to launch their initial public offerings (IPOs) expire before May 2019. A dozen companies - planning a cumulative fundraiser of close to $2 billion - have market regulator Securities and Exchange Board of India’s (Sebi’) nod in place.

 

These companies have not been able to launch their IPOs this year due to prevailing volatile market conditions and the uncertainty around the state and general elections, said bankers. READ MORE

12:47 PM

YES Bank slips over 2% as RBI begins inspecting bank's exposure to NBFCs

 

Shares of YES Bank slipped as much as 2.1 per cent to Rs 184 in the intra-day trade on the National Stock Exchange (NSE) after a news report suggested that the Reserve Bank of India (RBI) on Monday began examining the private bank's exposure to various Non-Banking Finance Companies (NBFCs). Read more

12:34 PM

Telcos owe Rs 245 bn as spectrum fee in 2019; Voda Idea to pay Rs 122 bn

Telecom companies will have to pay the government Rs 245 billion next year as deferred payment for spectrum won earlier. This is equivalent to almost the entire estimated earnings before interest, taxes, depreciation, and amortisation (Ebidta) of these companies this financial year (2018-19). Some of them are already asking for a deferment of this payment deadline.

 

Almost half this amount, Rs 122 billion, has to be paid by Vodafone Idea. It is facing severe financial pressure, with an Ebidta margin of only 6 per cent in the September quarter. READ MORE

Stock impact:

12:19 PM

Sun Pharma hits 5-month low; stock slips 7%

Shares of Sun Pharmaceutical Industries hit an over five-month low of Rs 475 per share, slipping 7%, and falling 9% from its early morning high on Tuesday on the back of heavy volumes. The stock was trading at its lowest level since June 6, 2018, declining 11% in past three days. READ MORE

12:03 PM

Market check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	35,289.79	-64.29	-0.18
S&P BSE SENSEX 50	11,094.86	-17.24	-0.16
S&P BSE SENSEX Next 50	32,022.60	-82.98	-0.26
S&P BSE 100	10,884.13	-18.60	-0.17
S&P BSE Bharat 22 Index	3,439.06	-5.32	-0.15

11:43 AM

IFCI surges 6% on receiving Rs 4.9 billion for Binani Cement resolution

Shares of Industrial Finance Corporation (IFCI) climbed as much as 6.49 per cent to Rs 14.60 in the intra-day deals on Tuesday after it received Rs 4.92 billion towards security receipts under the IBC resolution plan for Binani Cement. READ MORE

11:32 AM

Nifty Metal index hits four-month low; JSPL,Vedanta hits fresh 52-week lows

Shares of metal companies continued to remain under pressure for the fifth straight trading session, with Nifty Metal index falling more than 8% on macroeconomic concerns.
 

Tata Steel, Vedanta, JSW Steel, Jindal Steel & Power (JSPL), Steel Authority of India (SAIL), NMDC, NMDC and Jindal Stainless (Hisar) were down in the range of 2% to 4% on the National Stock Exchange (NSE). READ MORE

11:19 AM

S&P BSE Sensex top gainers and losers

11:02 AM

Domestic gains for Bajaj Auto, falling crude oil prices may impact exports

The Bajaj Auto stock was up 2.3 per cent in trade on expectations that strong volume growth, lower running costs of two-wheelers, and market share gains should help the company post strong revenue growth rates. The company is the only one among the auto pack which has not seen a significant downward earnings revision for the current fiscal year after the July-September quarter results. READ MORE

10:47 AM

Improving margins, reducing debt key challenges for Aurobindo Pharma

Even as peers struggled to maintain their revenue growth, Aurobindo Pharma has been able to navigate the tough generic market in the US, given its diversified product basket, differentiated portfolio, and new launches. The company, which is one of the few to have significant presence both in the US and Europe, is expected to maintain its outperformance in the coming quarters. READ MORE

 

10:32 AM

From HUL to Godrej Consumer, FMCG firms to benefit from easing input costs

 

After the July-September 2018 quarter results, some fast-moving consumer goods (FMCG) companies had indicated price hikes amid high inflationary pressure, mainly crude oil and lower value of the Indian rupee against the greenback. Read more

10:15 AM

VIP Industries hits two-month high; stock climbs 30% in one month

Shares of VIP Industries hit a two-month high of Rs 514, up 5.5% on Tuesday, extending its Monday’s 6% rally on BSE, on the expectation of strong demand outlook. The stock was trading at its highest level since September 29. It has outperformed the market by surging 30% in the last one month, as compared to a 6% rise in the S&P BSE Sensex. Read more

 

10:00 AM

Market check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	35,317.87	-36.21	-0.10
S&P BSE SENSEX 50	11,097.93	-14.17	-0.13
S&P BSE SENSEX Next 50	32,069.18	-36.40	-0.11
S&P BSE 100	10,889.03	-13.70	-0.13
S&P BSE Bharat 22 Index	3,445.00	+0.62	+0.02

9:45 AM

WEB EXCLUSIVE Crude oil prices have overshot to the downside: Paul Hickin of Platts

 

Brent crude may have crashed through the $60/barrel mark Friday as the market's bearish mood continued to gather momentum but one has to remember that this was in holiday-thinned trade with low liquidity amplifying the slide. That was amid expectations of oversupply as talk turned to whether OPEC and Russia can bring production levels down quickly enough in the months ahead. Click here to read more

 

9:32 AM

Shares of Unichem Laboratories rises over 8% as US FDA cleared its Mumbai unit