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MARKETS LIVE: Indices edge lower, Nifty below 10,600; IT, metal stocks slip

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SI Reporter  |  New Delhi 

Markets, Stocks, Shares
A share broker monitors market fluctuation

The benchmark indices are trading slightly lower tracking the weakness in the Asian

Among the sectoral indices, the Pharma index is trading over 1 per cent higher led by a rise in the share prices of Sun Pharmaceutical Industries and Divi's Laboratories. On the other hand, the IT index is down by around 1 per cent weighed by Infosys.

In stock-specific action, Bharti Airtel is trading around 2 per cent lower after Moody's Investors Service placed it's rating on review for downgrade, following low levels of profitability and expectation of weak cash flow. The stock had fallen as much as 5.21 per cent to Rs 290 on the BSE in intra-day trade. READ HERE

Nearly 75 companies including Titan Company, Indian Energy Exchange and Hindustan Aeronautics to announce their September quarter earnings later in the day.

The rupee is trading on a firm note, having risen to 72.66 per dollar, up from its previous close of 73 against the greenback.

Global Markets

Asian stocks pulled back from a one-month high on Friday as the Federal Reserve looked set to deliver another interest rate hike next month, paring gains made earlier this week after US midterm elections triggered a global equities rally.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.3 per cent and was headed for a loss of more than 1 per cent for the week. On Thursday, the index hit its highest level since Oct. 8. Hong Kong’s Hang Seng lost 2.4 per cent and the Shanghai Composite Index fell 1.2 per cent. South Korea’s KOSPI edged down 0.05 per cent and Japan’s Nikkei shed 1.05 per cent.

(with Reuters input)

MARKETS LIVE: Indices edge lower, Nifty below 10,600; IT, metal stocks slip

Govt to infuse Rs 30.5 billion as fresh capital in Allahabad Bank   Public-sector lender Allahabad Bank on Thursday informed stock exchanges that it had received a communication from the finance ministry stating it was getting a capital infusion to the tune of Rs 30.54 billion. Read more

MARKETS LIVE: Indices edge lower, Nifty below 10,600; IT, metal stocks slip

India Cements Q2 net plunges 94 pc to Rs 1.43 cr India Cements Friday reported 93.95 per cent drop in standalone net profit at Rs 1.43 crore during the quarter ended September 2018. The company had reported a net profit of Rs 23.67 crore in the same quarter of the previous fiscal. Total income of the company stood at Rs 1,390.84 crore during second quarter of 2018-19 fiscal. It was Rs 1,274.9 crore in the year-ago period, India Cements said in a BSE filing. Read more

MARKETS LIVE: Indices edge lower, Nifty below 10,600; IT, metal stocks slip

EARNINGS IMAPCT

MARKETS LIVE: Indices edge lower, Nifty below 10,600; IT, metal stocks slip

NEWS ALERT Indian Bank Q2: PAT at Rs 1.50 bn vs Rs 4.51 bn YoY

MARKETS LIVE: Indices edge lower, Nifty below 10,600; IT, metal stocks slip

Is India's GDP growth good, bad, or ugly? Puzzling data baffle economists   The world’s fastest-growing economy is also one of the most difficult to decipher. A change in the methodology to calculate gross domestic product is partly why India’s data is puzzling and is prompting economists to find a workaround. India’s new GDP series, introduced in 2015 with back-data available since 2012, relies more heavily on nominal indicators in two key areas relative to the old series, according to Abhishek Gupta, India economist with Bloomberg Economics in Mumbai. Read more

MARKETS LIVE: Indices edge lower, Nifty below 10,600; IT, metal stocks slip

Top losers in BSE 500 COMPANY PRICE() CHG() CHG(%) VOLUME PC JEWELLER 78.00 -5.45 -6.53 2479527 V-MART RETAIL 2265.25 -119.20 -5.00 3544 OBEROI REALTY 422.70 -17.35 -3.94 10641 NAVKAR CORPORAT. 64.90 -2.20 -3.28 9555 SYMPHONY 971.05 -28.70 -2.87 807 » More on Top Losers

MARKETS LIVE: Indices edge lower, Nifty below 10,600; IT, metal stocks slip

Quality takes centre stage as investors seek safety in Samvat 2075   When there is a flight to safety, it is stocks which are lower down the market cap ladder which get impacted the most. That has been the case over the last year with the BSE SmallCap and MidCap indices down 25-35 per cent from their peaks while the S&P BSE Sensex still remains in the green. There have been multiple reasons for the rise of the small and mid-cap companies in 2016 and 2017 and the slide in the current calendar year. Read more

MARKETS LIVE: Indices edge lower, Nifty below 10,600; IT, metal stocks slip

Saudi think-tank studying possible effect of Opec break up: WSJ report   Saudi Arabia's top government-funded think-tank is studying the possible effects on oil markets of a breakup of OPEC, the Wall Street Journal reported on Thursday, citing people familiar with the matter. The research project doesn't reflect an active debate inside the government over whether to leave the Organization of the Petroleum Exporting Countries in the near term, the Journal reported. Read more

MARKETS LIVE: Indices edge lower, Nifty below 10,600; IT, metal stocks slip

EARNINGS IMPACT

MARKETS LIVE: Indices edge lower, Nifty below 10,600; IT, metal stocks slip

NEWS ALERT India Cements Q2: Net profit down 94% at Rs 1.4 cr vs Rs 23.7 cr (y-o-y)

MARKETS LIVE: Indices edge lower, Nifty below 10,600; IT, metal stocks slip

Market check Index Current Pt. Change % Change   S&P BSE SENSEX 35,247.94 +10.26 +0.03   S&P BSE SENSEX 50 11,090.88 +12.06 +0.11   S&P BSE SENSEX Next 50 32,276.16 +198.51 +0.62   S&P BSE 100 10,893.72 +20.14 +0.19   S&P BSE Bharat 22 Index 3,479.54 +12.37 +0.36

First Published: Fri, November 09 2018. 08:00 IST
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MARKETS LIVE: Indices edge lower, Nifty below 10,600; IT, metal stocks slip

Catch all the live market action here

The benchmark indices are trading slightly lower tracking the weakness in the Asian

Among the sectoral indices, the Pharma index is trading over 1 per cent higher led by a rise in the share prices of Sun Pharmaceutical Industries and Divi's Laboratories. On the other hand, the IT index is down by around 1 per cent weighed by Infosys.

In stock-specific action, Bharti Airtel is trading around 2 per cent lower after Moody's Investors Service placed it's rating on review for downgrade, following low levels of profitability and expectation of weak cash flow. The stock had fallen as much as 5.21 per cent to Rs 290 on the BSE in intra-day trade. READ HERE

Nearly 75 companies including Titan Company, Indian Energy Exchange and Hindustan Aeronautics to announce their September quarter earnings later in the day.

The rupee is trading on a firm note, having risen to 72.66 per dollar, up from its previous close of 73 against the greenback.

Global Markets

Asian stocks pulled back from a one-month high on Friday as the Federal Reserve looked set to deliver another interest rate hike next month, paring gains made earlier this week after US midterm elections triggered a global equities rally.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.3 per cent and was headed for a loss of more than 1 per cent for the week. On Thursday, the index hit its highest level since Oct. 8. Hong Kong’s Hang Seng lost 2.4 per cent and the Shanghai Composite Index fell 1.2 per cent. South Korea’s KOSPI edged down 0.05 per cent and Japan’s Nikkei shed 1.05 per cent.

(with Reuters input)

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