MARKET WRAP: Sensex snaps 7-day gaining streak, slips 54 pts; Infy down 2%
All that happened in markets today.
 "Mumbai Police's Economic Offences Wing fresh notices to 300 NSEL brokers")
Snapping their seven-day gaining streak, the benchmark indices ended in the red on Tuesday amid selling in private banks, auto and IT counters.
The S&P BSE Sensex slipped 54 points or 0.13 per cent to end at 40,248 with YES Bank (up over 3 per cent) being the top gainer and IndusInd Bank (down over 2 per cent) the worst performer. During the session, the index witnessed a swing of 413 points.
On the NSE, the broader Nifty50 ended at 11,917, down 24 points or 0.20 per cent with 27 constituents declining and 23 advancing.
On the sectoral front, all the indices on the NSE but Nifty FMCG ended in the negative territory. Media stocks bled the most, followed by pharma and metal stocks. Nifty Media index slipped around 1.50 per cent to end at 1,839 levels. On the positive side, Nifty FMCG index ended 0.33 per cent higher at 32,361-mark.
In the broader market, the S&P BSE MidCap index lost over a per cent to end at 14,724 while the S&P BSE SmallCap index ended at 13,522, down nearly a per cent.
BUZZING STOCKS
Bajaj Finance hit a record high of Rs 4,256.30 apiece on the BSE. The stock ended over 2.50 per cent higher at Rs 4,230. The company on Monday launched its Rs 8,500 crore qualified institutional placement (QIP). The shares will be offered in the range between Rs 3,860 and Rs 3,900 apiece.
Punjab National Bank (PNB) ended over 5 per cent down at Rs 64.75 on the BSE after the bank's asset quality worsened for the September quarter of FY20. READ MORE
Shares of Dabur India rallied around 5 per cent to Rs 482 on the BSE after the company reported a better-than-expected 4.8 per cent year-on-year (YoY) volume growth in September quarter (Q2FY20). Analysts had forecast volume growth in the range of 3.0 - 3.5 per cent for the quarter. READ MORE
GLOBAL MARKETS
Asian shares vaulted to six-month highs on Tuesday, surpassing their July peaks, as hopes that Washington may roll back some of the tariffs it has imposed on imports from China shored up optimism on the global economic outlook. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.5 per cent to reach levels last seen in early May, led by gains in Chinese shares.
The bright mood in Asia is seen extending into the European morning, with pan-European Euro Stoxx 50 futures up 0.3 per cent, German DAX futures 0.21 per cent higher, and FTSE futures gaining 0.49 per cent.
In the US, S&P500 futures gained 0.2 per cent in Asia.
In commodities, oil prices steadied. Brent crude futures were down 1 cent at $62.12 a barrel after gaining 0.7 per cent in the previous session. U.S. crude futures were down 9 cents at $56.45 a barrel. They gained 0.6 per cent on Monday.
(With inputs from Reuters)
(With inputs from Reuters)
3:41 PM
Nifty snapshot
Except Nifty FMCG, all sectoral indices on the NSE end weak
3:40 PM
Sensex heat map
Bajaj Finance, YES Bank end over 3% higher
3:40 PM
CLOSING BELL
The S&P BSE Sensex lost 54 points or 0.13 per cent to settle at 40,248 while NSE's Nifty50 index ended at 11,917, down 24 points or 0.20 per cent.
3:39 PM
Markets at close
3:20 PM
ICICI Securities on Escorts
We expect sales and PAT to grow at a CAGR of 2.8% and 8.3%, respectively, over FY19-21E, with topline growth largely tracking the tractor business. Margins are seen remaining flattish over this period. We value Escorts at | 700 i.e. 11x FY21E EPS of | 64 and assign a HOLD rating to the stock.
3:08 PM
Dabur India stock gains 4%, nears record high post Q2 results
Shares of Dabur India moved higher by 4 per cent to Rs 479 on the BSE on Tuesday after the company reported a better-than-expected 4.8 per cent year-on-year (YoY) volume growth in September quarter (Q2FY20). Analysts had forecast volume growth in the range of 3.0 - 3.5 per cent for the quarter. READ MORE
3:00 PM
NEWS ALERT | Slowdown has bottomed out for the Co: Dabur
2:58 PM
Earnings Alert | Berger Paints Q2
-- Net profit up 67.2% YoY at Rs 194.6 crore
-- Revenue up 7.3% YoY at Rs 1,598.6 crore
-- Tax revenue at Rs 12.9 crore
--EBITDA up 14% YoY at Rs
--EBITDA margin at 15.7%
-- Revenue up 7.3% YoY at Rs 1,598.6 crore
-- Tax revenue at Rs 12.9 crore
--EBITDA up 14% YoY at Rs
--EBITDA margin at 15.7%
2:49 PM
EARNINGS ALERT | NCC Q2 consolidated profit slips 32.9% YoY to Rs 82.18 cr
- Revenue slips 40% YoY to Rs 1938.28 cr;
- EPS comes in at Rs 1.37 against Rs 2.04 in Q2FY19
2:45 PM
NEWS ALERT | FY20 forecast by PNB
-- Loan growth seen at 8-10%
-- NIM seen at 2.4%
-- credit cost seen at 2-2.5%
-- Operating profit growth seen at 10-12%
-- Slippages likely to be Rs 19,000 crore
-- NIM seen at 2.4%
-- credit cost seen at 2-2.5%
-- Operating profit growth seen at 10-12%
-- Slippages likely to be Rs 19,000 crore
2:45 PM
Bajaj Finance hits new high of Rs 4,223, up 2.6%
- The stock surpassed its previous high of Rs 4,220 on Oct 22
2:31 PM
EARNINGS ALERT | Apollo Tyres Q2 profit slips 43% YoY to Rs 83 cr
2:28 PM
PNB slips over 6% as asset quality worsens in Q2, provisions rise 5% QoQ
The bank's gross non-performing assets (GNPA) ratio increased to 16.76 per cent in the recently concluded quarter from 16.49 per cent reported in Q1FY20. In absolute terms, the GNPA stood at Rs 79,459 crore, up 2.8 per cent YoY, from Rs 77,267.3 crore reported in Q2FY19. Similarly, NNPA increased to 7.65 per cent from 7.17 per cent. In firgures, the amount came in at Rs 32,658.7 crore, up 8.2 perr cent YoY, from Rs 30,179.7 crore. READ MORE
2:16 PM
BROKERAGE RADAR | MOFSL on HDFC
In the current liquidity scenario, well-established companies with a strong parentage would get a clear preference in raising money from debt markets and banks – HDFC is well placed to capitalize on this. Despite having an Rs 1.2 trillion deposit base, incremental traction is stronger than ever. Subsidiaries are performing well and contribute over 50 per cent of SOTP. We largely maintain our estimates. Maintain Buy with a TP of Rs 2,600.
2:13 PM
NEWS ALERT | Qatar CEO says won't buy stake in IndiGo, reports Bloomberg
- plan is for a commercial deal; &
- the planned tie-up with IndiGo will be a code share accord
Topics : Markets MARKET WRAP
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First Published: Nov 05 2019 | 7:17 AM IST
