MARKET WRAP: Sensex dips 110 pts ahead of F&O expiry; FMCG, IT stocks fall

Among sectoral indices, the Nifty FMCG index fell 1.5 per cent led by a fall in ITC and Hindustan Unilever. The Nifty IT index, on the other hand, settled 1.9 per cent lower weighed by Infosys.

4:05 PM

MARKET COMMENT Jayant Manglik, President, Religare Broking Ltd.

In a volatile trading session, the equity benchmark indices opened on a positive note however, it witnessed selling pressure at higher levels with Nifty index correcting from an intraday high of 11,146 levels to close at 11,054 levels, 0.1% lower. The broader markets outperformed the benchmark with BSE Midcap and Smallcap ending with marginal gains of 0.2% and 0.1%. The sector indices witnessed mixed trend. While FMCG, IT and Auto were the top losers, Metal, Realty and Capital Goods ended with gains of ~1.2-1.7%.

 

We maintain our cautious stance on the Indian markets as volatility is likely to remain high in the near term. On the global front, US FOMC meet scheduled tonight, crude oil and currency movement would be actively tracked by the investors. We would advise investors and traders to remain selective in stock picking.

3:46 PM

Nifty FMCG index ends 1.47% lower. Top losers:

COMPANY	LATEST	PREV CLOSE	LOSS()	LOSS(%)	VOLUME
ITC	293.10	301.15	-8.05	-2.67	19889764
P & G HYGIENE	9500.00	9673.75	-173.75	-1.80	8025
BRITANNIA INDS.	5680.00	5773.85	-93.85	-1.63	190471
HIND. UNILEVER	1610.00	1630.85	-20.85	-1.28	980614
GODREJ CONSUMER	772.60	782.40	-9.80	-1.25	775681

3:41 PM

Sectoral gainers and losers on NSE

3:39 PM

BSE Sensex: Tata Motors, SBI, ITC among top losers of the day

3:32 PM

Market at close

 

The S&P BSE Sensex ended at 36,542, down 110 points while the broader Nifty50 index settled at 11,054, down 14 points.

3:18 PM

TD Power Systems surges 31% in four days on share buyback plan

Shares of TD Power Systems have moved higher by 13% to Rs 145 per share, extending their 16.5% rally in past three days on the BSE ahead of the board meeting later in the day to consider a share buyback proposal. READ MORE

3:04 PM

Half of the 22 listed PSBs are unfit to absorb weaker state-owned banks

Last week, the Central Government announced the merger of three public sector banks — Bank of Baroda, Dena Bank and Vijaya Bank — setting off speculation that similar mergers of public sector banks may be around the corner.

 

But given the deteriorating financial health of most public sector banks (PSBs), the fundamental question is whether there are any healthy PSBs left that can absorb the weaker ones. READ MORE

2:55 PM

Most active stocks in terms of value on BSE

COMPANY NAME	LATEST	HIGH	LOW	CHG ()	CHG(%)	VALUE ( CR)	VOLUME
DEWAN HSG. FIN.	307.60	319.90	277.45	6.90	2.29	157.05	5105782
APOLLO HOSPITALS	1041.50	1060.65	1033.35	-5.15	-0.49	148.20	1422906
YES BANK	222.75	229.55	217.00	2.90	1.32	76.55	3436568
EICHER MOTORS	25180.00	26254.35	25076.40	-433.65	-1.69	75.10	29827
TATA MOTORS	233.25	244.00	229.80	-7.65	-3.18	70.42	3019132

2:49 PM

Sadbhav Engineering, PNB Housing, Motherson Sumi, 8K Miles hit 52-week low

 

8K Miles Software Services locked in lower circuit for the third straight day, down 5% at Rs 213 on the BSE, despite clarification to social media rumors. The stock slipped 35% thus far in the month of September. READ MORE

2:29 PM

Ultra-rich families ride stock surge to double their annual gains: Report

These are heady times for the world’s richest clans. Family offices scored average returns of 15.5 per cent last year, up from 7 per cent in 2016 and 0.3 per cent the prior year, according to UBS Group AG and Campden Wealth. Those in Asia led the way with a 16.4 per cent return in 2017, fuelled by soaring stock markets and private equity. READ MORE

2:15 PM

United Breweries Ltd spurts 0.9%, up for five straight sessions

The stock is quoting at Rs 1397.55, up 0.9% on the day on the NSE. United Breweries Ltd is up 69.56% in last one year as compared to a 13.32% gain in NIFTY and a 20.98% gain in the Nifty FMCG. United Breweries Ltd rose for a fifth straight session today. READ MORE

2:01 PM

Market Check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	36,456.42	-195.64	-0.53
S&P BSE SENSEX 50	11,519.76	-46.13	-0.40
S&P BSE SENSEX Next 50	32,747.59	+148.12	+0.45
S&P BSE 100	11,275.22	-30.77	-0.27
S&P BSE Bharat 22 Index	3,513.63	-19.43	-0.55

(Source: BSE)

1:46 PM

Hindustan Zinc well placed on rising volumes, supply situation

Though the broader markets have been under pressure, Hindustan Zinc continues to gain and has bounced back 13.8 per cent from its July lows. While trade war concerns have led to volatility in base metal prices, what offers comfort is the outlook for zinc given the supply shortages.

 

Further, while it posted softer volumes in the June quarter, there has been a recovery and analysts expect a better second half. READ MORE

1:36 PM

Cabinet okays Rs 4,500-cr package to sugar industry

The government Wednesday approved a Rs 4,500 crore package for the sugar industry that includes over two-fold jump in production assistance to cane growers and transport subsidy to mills for export up to 5 million tonnes in the marketing year 2018-19, sources said.

 

The Cabinet Committee on Economic Affairs (CCEA) approved the food ministry's proposal that seeks to address the surplus domestic stock of sugar and help mills in clearing huge cane arrears of around Rs 13,000 crore. READ MORE

1:25 PM

NEWS ALERT Cabinet approves national digital communication policy (telecom policy)

Telecom stocks in green:

COMPANY	LATEST	PREV CLOSE	GAIN()	GAIN(%)
M T N L	14.85	14.10	0.75	5.32
REL. COMM.	11.80	11.55	0.25	2.16
VODAFONE IDEA	41.25	40.50	0.75	1.85
NETTLINX	72.50	71.25	1.25	1.75
TEJAS NETWORKS	272.40	268.25	4.15	1.55