Here's a quick roundup of all the market action of the day##Here's a quick roundup of all the market action of the day:
- Indices See Mild Recovery In Last Hour But End In The Red; Nifty 100 Points Off Record Level
- Market Ends The Week Higher Despite Today’s Correction; Sensex Up 1 percent
- Benchmark Indices See Best Week This Month; Nifty Bank Up Nearly 3 percent This Week
- ICICI Bank Lower After Yesterday’s Uptick; Stock Contributes 50 percent To Nifty Bank’s Fall
- Reliance Industries Cools Off Record Levels Snapping A 2-day Gaining Streak
- While RIL and ICICI Bank Drag Nifty, HDFC Bank Provides Mild Support
- Bharti Infratel Ends As Top Gainer After Opening As Top Loser; Sees Biggest Recovery In Over 6 Years
- Indiabulls Housing Sees Biggest 1-day Swing In 2 Months After Delhi HC Refuses To Drop PIL, Ends 30 percent Off Highs
- Nifty Media Becomes The Only Sectoral Index To End The Week In The Red
- Future Group Stocks Surge After CII Approval For Amazon’s Acqn Of Future Coupons
- Market Breadth Mildly In Favour Of Declines With Advance-Decline Ratio At 1:1
Closing Bell: Sensex down 336 points, Nifty at 12,056; banks, auto stocks drag##Closing Bell: Sensex down 336 points, Nifty at 12,056; banks, auto stocks drag
Indian shares ended lower on Friday dragged by banks, auto, and metal indices ahead of the Q2 GDP data later today. Investors remained cautious on expectations of slower economic growth in the September quarter and as rising uncertainty over a Sino-US trade deal hurt demand for risk assets. The BSE Sensex settled 336 points lower at 40,794, while the Nifty lost 95 points to end at 12,056. However, for the week both indices settled 1 percent higher. Among broader markets, Nifty Midcap and Nifty Smallcap indices outperformed benchmark indices, up 0.1 percent and 0.9 percent, respectively.
Chemical industry's market size to double by FY25, stocks climb 3,000% in 10 years##Chemical industry's market size to double by FY25, stocks climb 3,000% in 10 years
Acommodity that is widely used in most sectors including pharmaceuticals, FMCG, consumer durables, agriculture, real estate, amongst others is chemicals. The chemical industry remains a niche market with good long-term opportunities and is forecasted to grow at 13 percent CAGR over 2019-25. Stocks of chemical companies that have continued to deliver excellent returns are Vinati Organics, Aarti Industries, and Deepak Nitrite. With a market capitalisation of Rs 10,000 crore, Vinati Organics in the last 10 years gave nearly 3,200 percent returns, which is the highest in the sector. READ MORE
November auto sales likely to disappoint as buyers continue to stay away, say brokerages##November auto sales likely to disappoint as buyers continue to stay away, say brokerages
Automobile sales in the month of November are expected to be a mixed bag. Passenger vehicles (PV) may have registered a marginal growth led by extended deliveries post festive season, while two-wheeler retail sales may remain weak as it failed to sustain the recovery, analysts said. “Two-wheeler channel partners indicate significant decline in demand post festive. Retails in urban market declined by 10-15 percent YoY (on a high base) while it remained flat to negative in rural markets,” brokerage firm Prabhudas Lilladher said in a report. READ MORE
Rupee in wait-and-watch mode; Q2 GDP, US-China trade talks in focus##Rupee in wait-and-watch mode; Q2 GDP, US-China trade talks in focus
India's GDP growth came in at 5 percent in the first quarter of the fiscal year 2019-20 and is expected to sink further in Q2FY20. Manufacturing growth particularly may have taken a hit, given a high base and volume decline as was seen in the subdued industrial production data. The average outstanding growth of the NBFC sector has gone down further to around 35 percent YoY in Q2 from around 39 percent in the last quarter. Domestic passenger vehicle sales continued their decline for the last six months, particularly the lower strata PVs. Unseasonal rains contributed to crops getting spoilt. Industrial credit growth in several sectors has taken a hit. READ MORE
Despite weakening loan demand, Credit Suisse has 'outperform' call on these three banks##Despite weakening loan demand, Credit Suisse has 'outperform' call on these three banks
Credit Suisse, in its latest report, said that the banking sector is witnessing an increase in liquidity surplus while the loan growth continues to remain weak. While the credit businesses are still facing challenges, Credit Suisse is maintaining an 'outperform' call on three banks — HDFC Bank, ICICI Bank and SBI as "their distribution businesses are continuing to do well".
According to the report, in its recent financials field trips, all the banks Credit Suisse met highlighted weakening loan demand and rising liquidity surpluses. HDFC Bank and the State Bank of India have excess liquidity of $7 billion and $15 billion, respectively, said the report. READ MORE
Here's a quick catchup of all live market action:##Here's a quick catchup of all live market action:
- The benchmark indices extended losses in afternoon deals with Sensex down over 400 points and Nifty below 12,050 ahead of Q2 GDP data.
- Bharti Infratel, Adani Ports, Bharti Airtel, NTPC, and Coal India were the top Nifty gainers, while Dr Reddy's Hindalco, M&M, Asian Paints, and HUL, led the losses.
- Auto stocks remained under pressure ahead of November auto sales numbers. Nifty Auro index fell over a percent with TVS Motor Company, Ashok Leyland, M&M, Eicher Motors, and Tata Motors down between 1.5-3 percent.
- All Sectoral indices, except Nifty Realty, were trading in red. Nifty Auto, Nifty PSU Banks, Nity MEdia, Nifty Metal, and Nifty IT indices fell over a percent each.
HCC rises over 5% after winning challenge in SC##HCC rises over 5% after winning challenge in SC
The share price of Hindustan Construction Company on Friday was trading over 5 percent on the NSE after it won a challenge in the apex court for setting aside Section 87 of the Arbitration and Conciliation Act.
This stock rallied 15% in just 4 days, doubled investor wealth in 2 months. Find out##This stock rallied 15% in just 4 days, doubled investor wealth in 2 months. Find out
Shares of Yes Bank rose as much as 15 percent in just four days after the private sector lender announced that the board will meet on November 29 to discuss fundraising plans. For today, the stock gained over 5 percent. The sentiment was also positive after Edelweiss Securities upgraded Yes Bank to ‘Buy’ with a target price of Rs 101, indicating an upside of 40 percent from the current market price.
The scrip has risen 22 percent in 1 month and has doubled investor wealth, surging 131 percent since October 1. However, the stock has fallen 59 percent in the last 1 year and over 61 percent on a year-to-date basis. READ MORE