MARKET WRAP: Sensex down 219 pts, Nifty ends at 10,527; Adani Gas rises 14%
In the broader market, S&P BSE MidCap index fell 0.7 per cent to end at 14,880 levels, while the S&P BSE SmallCap index slipped 0.4 per cent to 14,351
 "Markets, Up, Down, BSE, NSE, Stocks")
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The benchmark indices ended lower for the third consecutive session, settling over 0.5 per cent lower led by fall in banking and metal stocks.
The S&P BSE Sensex ended at 34,981, down 219 points or 0.6 per cent, while the broader Nifty50 index settled at 10,527, down 73 points or 0.7 per cent.
In the broader market, S&P BSE MidCap index fell 0.7 per cent to end at 14,880 levels, while the S&P BSE SmallCap index slipped 0.4 per cent to 14,351.
Among individual stocks, Adani Gas rose 14 per cent to Rs 110.85 on the National Stock Exchange (NSE) on Thursday, extending its rally of over 25% in the past two days. Following the rally, the company entered the Rs 100-billion market capitalisation (market cap) club.
The S&P BSE Sensex ended at 34,981, down 219 points or 0.6 per cent, while the broader Nifty50 index settled at 10,527, down 73 points or 0.7 per cent.
In the broader market, S&P BSE MidCap index fell 0.7 per cent to end at 14,880 levels, while the S&P BSE SmallCap index slipped 0.4 per cent to 14,351.
Among individual stocks, Adani Gas rose 14 per cent to Rs 110.85 on the National Stock Exchange (NSE) on Thursday, extending its rally of over 25% in the past two days. Following the rally, the company entered the Rs 100-billion market capitalisation (market cap) club.
In the sectoral indices, Nifty Metal index, the top sectoral loser, fell 1.8 per cent weighed by Hindalco Industries and NMDC. The Nifty Bank too slipped 1 per cent due to a fall in The Federal Bank and Axis Bank.
Global Markets
Asian shares seesawed in cautious trading on Thursday with China extending losses as investors worries about slowing global growth in the face of rising U.S. interest rates and trade tensions.
MSCI’s broadest index of Asia-Pacific shares outside Japan was last up 0.2 per cent, recouping earlier losses. The index has managed to hold up so far in November after three straight monthly declines but is on track for its worst annual performance since 2011. Japan’s Nikkei was off morning highs but up 0.7 per cent. Chinese shares were in the red after opening higher, with the blue-chip index falling 0.4 per cent.
Oil Prices
Oil prices slipped on Thursday after US crude inventories swelled to their highest level since December 2017 amid concerns of an emerging global glut, although the potential for a supply cut by OPEC prevented further drops.
US West Texas Intermediate (WTI) crude futures, were at $54.47 per barrel, down 16 cents, or 0.3 per cent below their last settlement. Front-month Brent crude oil futures were at $63.34 per barrel, down 14 cents, or 0.2 per cent.
(with Reuters input)
3:38 PM
Top sectoral gainers & losers on NSE
3:38 PM
S&P BSE Sensex: Top gainers & losers
3:35 PM
Market at close
The S&P BSE Sensex dropped 219 points or 0.6 per cent to settle at 34,981 while NSE's Nifty50 index ended the session at 10,527, down 73 points or 0.7 per cent.
3:13 PM
Gold holds firm on subdued dollar
Gold prices were steady in holiday-thin trade on Thursday after hitting a two-week peak in the previous session, with improved risk appetite weighing on the US dollar.
Spot gold was 0.1 per cent higher at $1,227.25 per ounce. Prices on Wednesday marked their strongest since Nov. 7 at $1,230.07 per ounce. US gold futures were flat at $1,227.6 per ounce. READ MORE
3:01 PM
S&P BSE Sensex top gainers and losers
2:47 PM
IL&FS effect: Investors shift money to overnight funds, AUM surges 3-fold
Overnight funds’ assets under management (AUM) saw a three-fold jump in October as investors turned to the side of caution following the IL&FS group default in September. Experts said overnight funds are seeing such elevated levels of investor interest after a long time. They added that the last time this category saw such a sharp rise in inflows was in 2013, when taper tantrums triggered volatility in the currency and bond markets. Read more
2:32 PM
Shares of Indoco Remedies are locked in upper circuit of 20% at Rs 206 on the BSE after the US health regulator cleared inspection of the company’s Goa plant II & III with two minor observations. READ MORE
Indoco Remedies zooms 20% as Goa plant clears USFDA inspection
Shares of Indoco Remedies are locked in upper circuit of 20% at Rs 206 on the BSE after the US health regulator cleared inspection of the company’s Goa plant II & III with two minor observations. READ MORE
2:18 PM
IDFC gains 6% as company's plan to sell brokerage arm fetches 5 bidders
Shares of IDFC rose as much as 6% to Rs 41.20 apiece on the BSE in intra-day trade after a media report suggested that the company has put its wholly-owned brokerage subsidiary IDFC Securities up for sale. The bidding process, which started on Tuesday, has received interest from at least five parties, the Business Standard report suggests quoting industry players. Read more
2:02 PM
Market check
| Index | Current | Pt. Change | % Change |
| S&P BSE SENSEX | 35,129.88 | -69.92 | -0.20 |
| S&P BSE SENSEX 50 | 11,049.73 | -24.82 | -0.22 |
| S&P BSE SENSEX Next 50 | 32,133.15 | -208.03 | -0.64 |
| S&P BSE 100 | 10,852.20 | -31.34 | -0.29 |
| S&P BSE Bharat 22 Index | 3,437.49 | -17.18 | -0.50 |
1:46 PM
Jamie Dimon, Warren Buffett have the last laugh on new-age money Bitcoin
Bitcoin turns 10 this year, but there’s not much to celebrate. Its price has tumbled to near $4,000, down 30 per cent in a month, 50 per cent in six months and almost 80 per cent since December.
The crypto-currency experts, who clearly didn’t see this coming, are blaming all sorts of temporary culprits — from jittery markets to “hard forks” (blockchain jargon for radical technical changes in a digital currency.) But they’re kidding themselves. This is a long-term unravelling of all of the lies, exaggeration and populist fantasies that drove last year’s market mania. READ MORE
1:33 PM
Top gainers in BSE 500:
» More on Top Gainers
| COMPANY | PRICE() | CHG() | CHG(%) | VOLUME |
| DEEPAK FERT. | 186.50 | 22.20 | 13.51 | 536268 |
| FORBES & CO | 2680.00 | 208.25 | 8.43 | 21071 |
| CAPITAL FIRST | 533.00 | 36.35 | 7.32 | 151477 |
| IDFC BANK | 38.95 | 2.65 | 7.30 | 1753522 |
| JINDAL SAW | 85.10 | 5.50 | 6.91 | 515965 |
1:16 PM
2019 elections mere 'interruptions', stocks will climb in 2019: Edelweiss
While investors in India are worried about upcoming elections and threats to economic expansion, it’s not yet time to lighten up on equities, according to Edelweiss Financial Services Ltd.
The polls are mere “interruptions” that won’t disrupt the nation’s economic structure or business cycle, analysts led by Aditya Narain wrote in a note earlier this week. READ MORE
1:02 PM
These brave investors aren't ready to panic-sell equities just yet
Not all investors are rushing to exit stocks and cash in following the latest market bloodletting.
“It’s a good time to do the opposite from switching into cash because the level of anxiety is high, and so any improvement in the newsflow would have an outsized positive effect given the state of investor psychology,” Ken Adams, head of tactical asset allocation at Aberdeen Standard Investments, said by phone. “We’re not seeing indiscriminate selling in equities. These aren't panic-panic moves, like we saw during the financial crisis.” Read more
12:46 PM
Deepak Fertilisers recovers 17% after falling 23% in eight days
Shares of Deepak Fertilisers & Chemicals have moved higher by 17% to Rs 192 per share on the BSE intra-day trade, erasing more-than-half of their fall in the past eight days, after the company said that the Income-tax team has left the company's offices and normal day-to-day business has resumed fully.
The stock of fertiliser firm hit a low of Rs 163, its lowest level since August 19, 2016, on Wednesday in intra-day trade. READ MORE
12:28 PM
Web exclusive Why India becoming world's top sugar producer is no good news for companies
India toppling Brazil to become the world’s largest sugar producer may not be a good news for companies related to the production of this commodity back home. This, experts say, is on the back of the differential between the minimum selling price (MSP) of the commodity and the production cost, and the existing buffer/inventory in the country amid falling consumption. READ MORE
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First Published: Nov 22 2018 | 8:06 AM IST