MARKET WRAP: Sensex up 247 pts, Nifty holds 11,300; IT, metal stocks shine

All that happened in markets today.

3:36 PM

Sectoral trends at NSE at close

3:35 PM

Top gainers and losers on S&P BSE Sensex at close

3:35 PM

Closing Bell

 The benchmark S&P BSE Sensex ended the day at 38,127 level, up 247 points or 0.65 per cent. Infosys and Vedanta added 4 per cent each to settle as the as top gainers at the 30-share index, while YES Bank settled as the top loser, down 3 per cent. 

 

On NSE, the Nifty50 index closed at 11,301 level, up 67 points or 0.59 per cent. Infosys, Cipla, and Vedanta, which gained between 4-5%, were the top gainers at the 50-share index. On the downside, YES Bank, Indian Oil Corporation and GAIL settled as top losers, down in the range of 2-3%.

3:25 PM

Cipla rebounds 13% from 52-week low on heavy volumes

Shares of Cipla gained 5 per cent to Rs 442, thus bouncing back 13 per cent from its early morning low on the BSE on Friday as, according to analysts, the USFDA's inspection of Goa facility found no repeat or data integrity (DI) observations, so there is no chance of import alerts at the plant. READ MORE

3:09 PM

Iran oil tanker hit by suspected missile strikes near Saudi port

Suspected missile strikes hit an Iranian oil tanker near the Saudi coast on Friday, its owner said, the first Iranian vessel targeted since a spate of attacks in the Gulf Washington blamed on Tehran.

 

Oil prices surged more than two per cent on the news, which raised new supply concerns with tensions still high after last month's attacks on two Saudi crude facilities. READ MORE

3:01 PM

NEWS ALERT | IRCTC to list its shares on Monday, Oct 14: Reports

2:57 PM

NEWS ALERT | Malvinder, Shivinder Singh sent to 4 days police custody by Chief Metropolitan Magistrate: CNBC TV18

2:54 PM

Oil posts biggest gain in a month after reports of Iranian tanker attack: Reuters

Oil prices jumped more than 2% on Friday after Iranian media said a state-owned oil tanker had been struck by missiles in the Red Sea near Saudi Arabia, raising the prospect of supply disruptions weeks after attacks on Saudi oil plants. International benchmark Brent crude futures LCOc1 were up$1.39, or around 2.4%, at $60.49 a barrel by 02:00 pm, the report added.

2:52 PM

Unlisted cos executing more NHAI projects than their listed counterparts

While some of these unlisted companies are expected to look for a public listing in the future, some others may prove to be a cause for concern for NHAI.

 

In FY2019, unlisted companies implemented 63 per cent of NHAI’s hybrid annuity model (HAM) projects, according to a report by Equirus Capital. This share is higher at 88 per cent for NHAI’s engineering, procurement and construction (EPC) projects, the report stated. READ MORE

2:38 PM

NEWS ALERT | Aurobindo Pharma's promoter creates pledge on 8 lakh shares from October 7-9: BSE filing

2:37 PM

Market check

2:36 PM

MARKET CHECK | Top 5 losers on the BSE at present

2:19 PM

IRB Infra extends losses to fourth day, slips 13% to hit over 6-year low

In the past two months, IRB Infra has underperformed the market by falling 42 per cent after the company informed the stock exchange that Mhaiskar Infrastructure - wholly-owned subsidiary of the company, had successfully completed concession period of Mumbai Pune project on August 10, 2019. READ MORE  

2:09 PM

If China, US continue their tit-for-tat policy, everybody will lose

Things are getting worse. That’s a conclusion one might have reasonably reached after reading this week’s US-China headlines. First, there was Hong Kong, a matter Beijing has warned Washington to stay clear of. Protesters last weekend battled police, vandalized shops and paralyzed swaths of the Asia financial center. Then President Donald Trump tied outcomes in Hong Kong to trade. READ MORE  

1:58 PM

Reliance Securities on Cyient

• Cyient’s (CYL) stock price rose 2.7% in yesterday’s trade, while the BSE Sensex declined 0.8%.
• Cyient’s 1QFY20 USD revenue declined 5.2% QoQ in USD terms, with core services revenue down 6.2% QoQ, while DLM revenue rose 2.7% QoQ. 
• From vertical perspective (core services), AERO (-2.8% QoQ in USD terms), Transportation (-1.7%), ENU (-11.8%) and Portfolio (-9.7%) were the key verticals that pressurised revenue.
• Management expects revenue to recover in 2QFY20E along with margin expansion; growth has come back across verticals barring pockets like Semiconductor. 
• Valuation at 11.3x/9.7x FY20E/FY21E EPS seems to be fairly reasonable. 
• We have a BUY rating on Cyient, with a Target Price of Rs 610.