Sensex ends Samvat 2073 with 17% gain, Nifty up 18%
Catch all live market action here
 "BSE Building")
Key benchmark indices opened the day on a negative note and languished in the red till afternoon trade as traders chose to book profits after Indian markets surged earlier in the week to hit record highs.
Indices did, however, trade in positive territory boosted by gains in European bourses but subsequently succumbed to selling pressure. Markets were otherwise dull ahead of a long Diwali weekend. Banking stocks were among the top sectoral losers, with the NiftyPSU Bank index slipping over 2%. The fall in the banking pack was triggered by Axis Bank that lost nearly 9% intra-day post its September quarter numbers that showed worsening asset quality.
Both the benchmark Sensex and the Nifty finally closed the day with losses of over 0.2%. On the sectoral front, barring the realty and FMCG indices, which traded flat, all other sectoral indices on the National Stock Exchange traded in the red.
Markets will open on October 19 for Muhurat trading in the evening at 630pm, and remain closed on Friday on account of Diwali-Balipratipada.
4:04 PM
Diwali Muhurat trading from 6.30 pm to 7.30 pm on Oct 19
3:54 PM
Market outlook by ICICI Securities
Equity markets across DMs and EMs continued to hit new highs although EM bonds saw mixed performance last week. Volatility continued to be low, which shows that risk appetite is rising.Post the recent market correction in Sep ’17, small-caps (+7.85%) and mid-caps (+ 4.95%) have outperformed large-cap stocks (+4.43%) despite large-cap valuation at a discount to mid-cap valuation. Although markets have reacted positively to the emerging reality, there is a palpable uncertainty around the near-term growth outlook for the Indian economy, which could manifest itself in the wake of incremental disappointing data around growth.
View on earnings
Our Q2 FY18 preview suggests that Nifty PAT could expand by ~11% YoY largely driven by commodity and financial stocks. Amongst financials, retail lenders continue to register robust earnings growth while volatility is seen in the corporate lending segment. In the non-financial segment, auto (ex 2-wheelers), cement, telecom, pharma and IT are expected to put pressure on Q2FY18 earnings. Consumption-related sectors, industrials and utilities are expected to report growth in mid to high single digits.
3:46 PM
S&P BSE Sensex, Nifty50 indices end Samvat 2073 with 16.7% and 18.5% gain, respectively CLICK HERE FOR OUR FULL COVERAGE ON MARKETS IN SAMVAT 2073
3:43 PM
| Sector watch | |||
|
Index
| Current Value | Ch (pts) | Ch (%) |
| S&P BSE Basic Materials | 3346.54 | -5.38 | -0.16 |
| S&P BSE Energy | 4202.38 | 102.65 | 2.5 |
| S&P BSE Fast Moving Consumer Goods | 10268.13 | 14.44 | 0.14 |
| S&P BSE Healthcare | 14170.59 | -114.07 | -0.8 |
| S&P BSE Information Technology | 10369.08 | -36.16 | -0.35 |
| S&P BSE Telecom | 1571.23 | -29.8 | -1.86 |
| S&P BSE Utilities | 2162.68 | 28.05 | 1.31 |
| S&P BSE AUTO | 24949.57 | -102.25 | -0.41 |
| S&P BSE BANKEX | 27186.77 | -494.76 | -1.79 |
| S&P BSE CAPITAL GOODS | 17462.07 | -60.88 | -0.35 |
| S&P BSE CONSUMER DURABLES | 18310.38 | -104.53 | -0.57 |
| S&P BSE METAL | 14674.03 | -74.48 | -0.51 |
| S&P BSE OIL & GAS | 16002.81 | 195.43 | 1.24 |
| S&P BSE POWER | 2269.89 | 27.17 | 1.21 |
| S&P BSE REALTY | 2169.77 | -1.86 | -0.09 |
| Source: BSE | |||
3:40 PM
Markets at close
(Source: BSE)
| Index | Current | Pt. Change | % Change |
| S&P BSE SENSEX | 32,584.35 | -24.81 | -0.08 |
| S&P BSE SENSEX 50 | 10,598.29 | -22.71 | -0.21 |
| S&P BSE SENSEX Next 50 | 34,889.59 | -91.23 | -0.26 |
| S&P BSE 100 | 10,612.71 | -23.55 | -0.22 |
| S&P BSE MidCap | 16,115.98 | +1.48 | +0.01 |
(Source: BSE)
3:29 PM
Infosys Q2 preview
In dollar terms, Infosys is likely to report 3.6% sequential and 6.2% year-on-year (yoy) revenue growth at $2,748 million, say analysts at HDFC Securities. In rupee terms, revenues are likely to come in at Rs 17,585 crore. IT major is seen reporting a 2.6 per cent QoQ sequential growth in revenue in constant currency (CC) terms. The numbers may be supported by 95 basis points cross-currency tailwind, they said. The company is scheduled to announce numbers on October 24
Analysts at Kotak Institutional Equities expect CC revenue growth of 2.3% and CC tailwind of 80 bps. We expect lower cross currency tailwinds based on the assumption of lower forex gains from revenue hedges, they said in a note.
The company’s profit after tax (PAT) is expected to come in at around Rs 36,00 crore, up 1.8% yoy, but down 1.5% on a sequential basis, estimated analysts at Motilal Oswal Securities. JM financial sees 2.75 sequential jump in Q2 PAT at Rs 35,78 crore.
3:24 PM
- Nifty 50 Gainers/ Losers
- Most active
3:21 PM
From Diwali picks to Muhurat trading tips, market outlook for Samvat 2074
The new Samvat 2074 is likely to take the market through a path of uncharted territory as the curtain calls to an eventful Samvat 2073. From Narendra Modi-led demonetisation drive to the implementation of goods and services tax (GST) bill, the markets went through jitters, yet the Nifty 50 notched up gains of around 17 per cent. READ MORE
3:20 PM
Nifty PSU Bank index hits fresh 9-month low
Shares of public sector banks (PSBs) came under pressure with the Nifty PSU Bank index hitting fresh nine-month low on the National Stock Exchange (NSE). The index hit an intra-day low of 2,958 - its lowest level since January 6, 2017 - and has slipped 20% from its recent closing high of 3,723 on July 31, 2017.
By comparison, the benchmark Nifty 50 was up 1.4%, while Nifty Bank (down 3%) and Nifty Private Bank index (down 1%) were down less than 4% during the period CLICK HERE FOR MORE
3:19 PM
'Dr Doom' commentator Marc Faber faces backlash over racist remarks
Marc Faber, the Swiss investor based in Thailand, provoked a backlash from business television and investment management firms on Tuesday after comments in his latest newsletter suggested the United States had only prospered because it was settled by white people.
The investor and commentator, known as "Dr Doom" for bearish calls on stocks and the economy, was dismissed from the boards of Canadian fund manager Sprott Inc, NovaGold Resources Inc and Ivanhoe Mines Ltd after his remarks. READ THE FULL STORY HERE
Topics :
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Oct 18 2017 | 3:40 PM IST