MARKET WRAP: Sensex slips 151 points weighed by auto, pharma stocks
The Nifty Auto index fell 1.19 per cent weighed by Mahindra & Mahindra (M&M) and Ashok Leyland. The Nifty Pharma index declined 1.63 per cent dragged down by Dr. Reddy's Laboratories.
 "Markets, Stocks, BSE, NSE")
Markets, Stocks, BSE, NSE
The benchmark indices settled around 0.5 per cent lower on Monday weighed by automobiles and pharmaceutical stocks.
The S&P BSE Sensex ended at 36,395, down 151 points or 0.41 per cent, while the broader Nifty50 index settled at 10,889, down 55 points or 0.50 per cent.
Among sectors, the Nifty Auto index fell 1.19 per cent weighed by Mahindra & Mahindra (M&M) and Ashok Leyland. The Nifty Pharma index declined 1.63 per cent dragged down by Dr. Reddy's Laboratories.
GLOBAL MARKETS
The S&P BSE Sensex ended at 36,395, down 151 points or 0.41 per cent, while the broader Nifty50 index settled at 10,889, down 55 points or 0.50 per cent.
Among sectors, the Nifty Auto index fell 1.19 per cent weighed by Mahindra & Mahindra (M&M) and Ashok Leyland. The Nifty Pharma index declined 1.63 per cent dragged down by Dr. Reddy's Laboratories.
The broader market indices underperformed their benchmark peers. The S&P BSE MidCap index fell 211 points or 1.47 per cent to end at 14,118, while the S&P BSE SmallCap index settled at 13,450, down 206 points or 1.51 per cent.
BUZZING STOCKS
BUZZING STOCKS
Shares of Sun TV Network rallied over 10 per cent to end at Rs 574.55 per share on the BSE in an otherwise weak market after the company reported net profit growth of 32 per cent at Rs 351 crore in December 2018 quarter (Q3FY19), on back of healthy revenue growth. The company’s revenue was up 32 per cent at Rs 904 crore over the previous year quarter.
Shares of Graphite India hit a 14-month low of Rs 436, down 10 per cent in intra-day, extending its 6 per cent decline in the past two trading days on BSE, after reporting subdued results for the quarter ended December 2018 (Q3FY19). The stock settled at Rs 436, down 9.99 per cent from the previous close.
Asian shares barely moved on Monday as investors were unable to shake worries about global growth, US politics and the Sino-US trade war, keeping the safe haven dollar near a six-week top against major currencies.
OIL PRICES
China's blue-chip index surged 1.6 per cent while Shanghai's SSE Composite climbed 1.2 per cent. Australian stocks recouped some losses to end 0.2 per cent lower while South Korea's KOSPI index was up 0.2 per cent. That left MSCI's broadest index of Asia-Pacific shares outside Japan was slightly firmer after it was toppled from a four-month top on Friday.
OIL PRICES
Oil prices fell on Monday as drilling activity in the United States picked up and a refinery fire in the US state of Illinois resulted in the shutdown of a large crude distillation unit.
US West Texas Intermediate (WTI) crude futures were at $52.17 per barrel, down 55 cents, or 1 per cent, from their last settlement. International Brent crude oil futures were down 27 cents, or 0.4 per cent, at $61.83 a barrel.
(with wire inputs)
3:40 PM
Sectoral gainers and losers of the day on NSE
3:35 PM
Gainers and losers of the day on S&P BSE Sensex
3:33 PM
Market at close
The S&P BSE Sensex ended at 36,395, down 151 points or 0.41 per cent, while the broader Nifty50 index settled at 10,889, down 55 points or 0.50 per cent.
3:26 PM
India Cements Q3 profit falls 79.46% to Rs 3.13 cr
India Cements Monday reported a 79.46 per cent decrease in its standalone net profit at Rs 3.13 crore for the third quarter ended on December 2018. The company has reported a net sales of Rs 15.24 crore for the October-December quarter a year ago, India Cements said in a BSE filing. READ MORE
3:10 PM
STOCK IMPACT
Eicher Motors down 1% post Q3 results
3:09 PM
NEWS ALERT
Eicher Motors reports Q3 consolidated net profit at Rs 532.95 crore vs Rs 520.50 crore year ago
3:02 PM
Finance ministry seeks Rs 27,380 cr from RBI's risks, reserves fund
The finance ministry has sought from the Reserve Bank of India (RBI) Rs 27,380 crore that was withheld by the central bank towards risks and reserves in the previous years, said sources.
The RBI had retained Rs 13,190 crore towards risks and reserves during 2016-17. It increased to Rs 14,190 crore in 2017-18. Together, retained amount is Rs 27,380 crore. READ MORE
2:41 PM
Apollo Hospitals tumbles on share pledge concerns
2:31 PM
Rate cut, RCom bankruptcy: Investor worries go beyond Modi's election angst
Japan’s shut, most other Asian equity markets aren’t doing much. So we’re going to use this opportunity to talk about India, where an unpredictable election looms. Even before the ballot takes place, a host of worries is raising questions about whether the country’s benchmark stock index can repeat last year’s outperformance. READ MORE
2:15 PM
Sun TV Network surges 11% post December quarter results
Shares of Sun TV Network have rallied 11 per cent to Rs 577 per share on the BSE on Monday in an otherwise weak market after the company reported net profit growth of 32 per cent at Rs 351 crore in December 2018 quarter (Q3FY19), on back of healthy revenue growth. The company’s revenue was up 32 per cent at Rs 904 crore over the previous year quarter. READ MORE
2:00 PM
MARKET CHECK
1:40 PM
Elara Capital on Aurobindo Pharma
Strong US business and an emerging EU (transitioning from negative OPM into the double digits) show drivers are in place. Further, the Sandoz acquisition seems to be transacted at attractive valuations (1x sales and 5x EBITDA), which will give Aurobindo higher scale (USD 2.3bn of consolidated US sales) and diversification in the US (derma portfolio). The incorporation of Sandoz business will increase our FY20E EPS by 15-20 per cent. We retain Buy with a target price (TP) of Rs 925.
1:25 PM
WEB EXCLUSIVE | Analysts see robust demand, margin squeeze for IT firms; prefer large-caps
Despite being a seasonally weak quarter due to furloghs and lower billing days on account of holidays, most companies in the information technology (IT) sector reported a strong set of numbers for the October – December 2018 period of financial year 2018-19 (Q3FY19). READ MORE
1:17 PM
HDFC Securities on Dilip Buildcon
Even though the newer hybrid annuity model (HAMs) are facing some challenges before moving into execution, DBL continues to demonstrate its superior execution capabilities on its existing projects (with ~Rs 500 million bonus expected on the Lucknow Sultanpur stretch, nearly 8 months before time). We remain constructive.
1:15 PM
» More on Top Losers
Top losers in BSE 500:
| COMPANY | PRICE() | CHG() | CHG(%) | VOLUME |
| APOLLO HOSPITALS | 1130.85 | -128.10 | -10.18 | 102650 |
| GRAPHITE INDIA | 436.00 | -48.40 | -9.99 | 212581 |
| INDIABULLS VENT. | 272.80 | -29.55 | -9.77 | 158780 |
| PC JEWELLER | 69.20 | -7.20 | -9.42 | 2829096 |
| KRBL | 327.50 | -32.85 | -9.12 | 18250 |
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First Published: Feb 11 2019 | 8:15 AM IST