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Closing Bell: Sensex, Nifty extend losses, Nifty Bank, midcaps fall 1%, RIL, ICICI Bank, HDFC Bank, M&M drag indexes, ZEEL shares up 4.5%

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Indian shares gave up all early gains and closed lower on Thursday dragged by weakness in broader markets, particularly financials and energy stocks. Weakness in pharma, auto, consumer and PSU bank stocks also weighed on indexes, while support came from media and IT stocks. Zee Entertainment shares surged 4.5 percent, while M&M stock dipped 3 percent. Here are the main highlights from the stock markets today:

Closing Bell: Sensex, Nifty extend losses, Nifty Bank, midcaps fall 1%, RIL, ICICI Bank, HDFC Bank, M&M drag indexes, ZEEL shares up 4.5%
  • Rupee extends gains; back below $71/$ for the first time since September 3##Rupee extends gains; back below $71/$ for the first time since September 3

  • Sensex heatmap at close: Adani Ports major gainer, M&M, Tata Steel, Wipro top losers##Sensex heatmap at close: Adani Ports major gainer, M&M, Tata Steel, Wipro top losers

    Closing Bell: Sensex, Nifty extend losses, Nifty Bank, midcaps fall 1%, RIL, ICICI Bank, HDFC Bank, M&M drag indexes, ZEEL shares up 4.5%
  • Closing Bell: Sensex, Nifty extend losses at end, Nifty Bank dips 1%##Closing Bell: Sensex, Nifty extend losses at end, Nifty Bank dips 1%

    The Sensex settled at 34,981, down by 219 points, or 0.62 percent, while the Nifty closed at 10,527, shedding 73 points, or 0.69 percent. The decline in broader markets was sharper with the Nifty MidCap ending lower by nearly a percent, while the BSE MidCap declined by 0.74 percent. Only Nifty Media advanced by 1.41 percent, while 42 sectors declined. The BSE Metal declined the most, falling by nearly 2 percent. BSE Telecom, Nifty PSU Banks and Nifty Realty were other major losers among sectoral indexes, falling by up to 1.76 percent. 

  • InterGlobe Aviation falls on loss of market share in October##InterGlobe Aviation falls on loss of market share in October

    Shares of InterGlobe Aviation fell 3 percent as the company lost some of its share in the domestic civil aviation market in October, data released by the government showed. The company's market share in October stood at 42.8 percent, down 400 basis points from 43.2 percent in September. Passenger load factor of the company in October, however, rose to 83.1 percent from 82.7 percent in September. The company likely lost market share to Air India, whose market share increased to 12.2 percent in October from 11.8 percent in September. At 2.50 pm, shares of InterGlobe Aviation traded 2.07 percent lower at Rs 1,025.30. 

  • Adani Ports gains on Credit Suisse's positive outlook, Sensex, Nifty trade lower##Adani Ports gains on Credit Suisse's positive outlook, Sensex, Nifty trade lower

    Shares of Adani Ports and Special Economic Zone rose over 2 percent to hit their one-month high of Rs 370.90 after brokerage firm Credit Suisse issued a positive outlook for the company. The brokerage said it expects strong container inflow at the company's ports, while recent revival in coal imports will also aid earnings. Adani Ports handles container traffic and mineral imports at nine ports owned and operated by it. (Cogencis) Shares of Adani Ports were up 2.2 percent at Rs 369.20 at 2.30 pm on the NSE. The benchmark Nifty traded lower by 31 points, or 0.29 percent at 10,569. The Sensex traded at 35,114, lower by 85 points, or 0.24 percent.

  • Market update: Sensex, Nifty turn negative, ICICI Bank, RIL, M&M top drags##Market update: Sensex, Nifty turn negative, ICICI Bank, RIL, M&M top drags

    The Sensex traded at 35,073, down by 126 points, or 0.37 percent at 1.45 pm, while the Nifty traded at 10,555, lower by 45 points, or 0.42 percent. Broader market underperformed with the Nifty MidCap down by 0.6 percent. The BSE MidCap slipped by 0.40 percent. While ICICI Bank, Reliance Industries, M&M dragged indexes, support came from TCS and HDFC. SBI, PowerGrid, HUL, IndusInd Bank, Tata Steel and Infosys also weighed on indexes. 

  • Wockhardt sees heavy buying in the last few minutes, stock spikes##Wockhardt sees heavy buying in the last few minutes, stock spikes

  • Most Indian sectors will see revenue growth in 2019 despite external risks: Moody's##Most Indian sectors will see revenue growth in 2019 despite external risks: Moody's


    The revenue growth of most Indian sectors including steel, mining and auto will continue to improve through 2019 despite the external headwinds, according to a Moody's report titled 'Non-financial corporates — India: 2019 Outlook'. "Revenue will grow for most Indian industries, despite external risks," said Saranga Ranasinghe, a Moody's analyst, who is also the author of the report. Read more

  • Indoco up as ICRA reaffirms rating, keeps outlook 'stable'##Indoco up as ICRA reaffirms rating, keeps outlook 'stable'


    Shares of Indoco Remedies gained 13 percent after ICRA said the outlook on its long-term rating has been kept 'stable'. ICRA has reaffirmed rating for the long-term borrowing programme of the company at A+, the company said in a filing. The short-term rating has been revised to A1 from A1+. 

  • Market update: Sensex, Nifty trade positive amid weak broader markets##Market update: Sensex, Nifty trade positive amid weak broader markets

     

    The Sensex traded at 35,295, higher by 95 points, or 0.27 percent at 12.23 pm, while the Nifty was trading at 10,616, higher by 16 points, or 0.15 percent. Broader markets underperformed with the Nifty MidCap mildly higher by 0.09 percent, while the BSE MidCap was up by 0.15 percent. Among sectoral indexes, only 17 sectors advanced against 26 declining with Nifty IT leading the pack of gainers with more than a percent. BSE Metal dipped nearly a percent, leading among lagging sectors. Nifty PSU Bank and Pharma were other notable losers. Among top index gainers, shares of Zee Entertainment, Indiabulls Housing Finance, Tata Consultancy Services, Adani Ports, Tech Mahindra, ONGC, Bharti Airtel, Yes Bank traded higher by up to 2.6 percent. Among laggards, oil marketing companies declined with HPCL, BPCL and IOC shares dipping by up to 2 percent. UltraTech Cement, Tata Steel, Coal India, Power Grid Corp., M&M and Axis Bank were other major losers, falling by up to 1.65 percent.

  • Indiabulls Housing up 3.5%, reverses 7-day slide##Indiabulls Housing up 3.5%, reverses 7-day slide

    Shares of Indiabulls Housing Finance rose 3.5 percent, and reversed a seven-day slide, as concerns over liquidity subsided and investors are now looking at growth to sustain. Shares of Indiabulls Housing Finance had declined over the last seven trading sessions, falling 18 percent. At 11.15 am, shares of Indiabulls Housing Finance were up 2.4 percent at Rs 722.05, with over 4.1 million shares traded on the NSE, versus a daily average of 1.7 million shares.

  • Nifty, Sensex slip from highs, broader indices slip##Nifty, Sensex slip from highs, broader indices slip

  • Mangalam Maloo's quick take on why hotel, hospitality stocks gain in trade today##Mangalam Maloo's quick take on why hotel, hospitality stocks gain in trade today

    Hotel and Hospitality stocks gain in trade on Thursday. Brokerage firm Motilal Oswal has initiated coverage on Taj owner, Indian Hotels Co., citing favorable dynamics for the industry. Motilal says Indian Hotels is the second largest domestic hotel player in the country and stands to benefit from higher occupancy, more demand and lower supply of rooms in the industry. Hotel Industry occupancy stands at 67 percent, which enables players to exercise pricing power. The company is well placed to capitalize on the growth opportunities as 85 percent of its 17,145 rooms are in India. Motilal expects the company to record revenue/ EBITDA CAGR of 9 percent/ 25 percent over FY18-20. They say ‘Check in Now’ with a ‘buy’ rating and a target price of Rs 163 on Indian Hotels. The commentary on hotel industry took other stocks like Taj GVK, Royal Orchid, Kamat Hotels, EIH & EIH Assoc higher by 5-10 percent in trade today.

  • Tech Mahindra up on positive outlook, Sensex, Nifty climb up##Tech Mahindra up on positive outlook, Sensex, Nifty climb up

    Shares of Tech Mahindra gained 3 percent on positive outlook. Brokerage firm Morgan Stanley has retained its "overweight" stance on Tech Mahindra shares with a price target of Rs 880, Cogencis reported. At 10.25 am, shares of the company were 1.50 percent up at Rs 701. Meanwhile, the Nifty traded higher by 40 points, or 0.37 percent, at 10,640 at 10.30 am, while the Sensex surged by nearly 140 points, or 0.40 percent, to trade at 35,339.

  • Bharti Airtel down 3% as railways may not renew pact##Bharti Airtel down 3% as railways may not renew pact

    Shares of Bharti Airtel fell 3 percent as a media report said that the Indian Railways may replace Bharti Airtel with Reliance Industries' subsidiary Reliance Jio Infocomm as its telecom service provider. Indian Railways has been using Bharti Airtel for over six years as its telecom provider for 195,000 mobile phone connections used by its employees in a closed user group across the country for which the railways pays around 1 bln rupees in bills per year, the report said. Bharti Airtel's current contract with the Indian Railways runs till December 31. At 9.20 am, shares of Bharti Airtel were down 2.75 percent at Rs 323.55. 

  • Sensex heatmap at 9.28 am: Yes Bank, Wipro, TCS, ONGC up more than 1%##Sensex heatmap at 9.28 am: Yes Bank, Wipro, TCS, ONGC up more than 1%

    Closing Bell: Sensex, Nifty extend losses, Nifty Bank, midcaps fall 1%, RIL, ICICI Bank, HDFC Bank, M&M drag indexes, ZEEL shares up 4.5%
  • Opening Bell: Sensex, Nifty open positive, Nifty Bank underperforms##Opening Bell: Sensex, Nifty open positive, Nifty Bank underperforms


    The Nifty traded at 10,619, up by 19 points, or 0.18 percent, while the Sensex surged by 70 points, or 0.20 percent, to 35,270. The Nifty Bank was mildly up by 0.15 percent, but the Nifty MidCap surged by 0.4 percent. Among gainers, Tech Mahindra surged nearly 2 percent. Yes Bank shares also gained well over a percent, while Gail, Zee Entertainment and Tata Motors surged by up to a percent. Among losers, Bharti Airtel shares plunged more than 3 percent, while group firm Bharti Infratel also fell by nearly 2 percent. HPCL, Grasim and BPCL shares fell by up to 1.26 percent. 

  • Rupee opens higher at 71.14 against the US dollar, Sensex, Nifty flat in pre-open##Rupee opens higher at 71.14 against the US dollar, Sensex, Nifty flat in pre-open


    The rupee opened higher at 71.14 against the US dollar on Thursday. The currency and debt market was closed on Wednesday. The rupee had closed at 71.45 against the greenback on Tuesday. The 10-year government bond yield opens at 7.77 percent against its Tuesday's close of 7.79 percent. Meanwhile, benchmark indexes settled mildly higher in pre-open trade. The Sensex was at 35,283.30, up by 83.50 points, or 0.23 percent at 9.08 am, while the Nifty was at 10,612.65, up by 12.65 points, or 0.12 percet. 

  • Here is the list of stocks that will be on radar today##Here is the list of stocks that will be on radar today

  • Macquarie downgrades NMDC on Donimalai mine issue##Macquarie downgrades NMDC on Donimalai mine issue

    Macquarie Capital Markets has reportedly cut the rating for shares of NMDC to 'neutral' from 'buy' earlier as it sees a six-month disruption from the ongoing lease issue for the company's Donimalai mine in Karnataka. The brokerage has also cut the target price for shares of NMDC by more than 20 percent to Rs 110. NMDC exports iron ore from Donimalai site to Japan and South Korea, and has an installed annual capacity of 4 million tonne. The lack of growth and uncertainty related to mines should keep valuation multiples for the stock depressed, the brokerage has reportedly said. It also sees iron ore prices at close to a peak. Shares of NMDC ended over 1 percent lower at Rs 98.10 on Wednesday. (Cogencis)

  • RBI can experiment with CRR at this juncture, says Ananth Narayan##RBI can experiment with CRR at this juncture, says Ananth Narayan


    The Reserve Bank of India can experiment with the cash reserve ratio (CRR), or the amount of bank deposits parked with the central bank, in the next monetary policy committee (MPC) to current improve liquidity situation, said Ananth Narayan, professor, SPJIMR.

    "It is a tricky one obviously with oil prices coming down and with consumer price index (CPI) remaining as soft as the degrees of freedom that policymakers have increased. But I would probably suggest that we need to exercise some caution out here,” Narayan said. Read more

  • 10 things you need to know before the opening bell##10 things you need to know before the opening bell


    Asia: MSCI’s broadest index of Asia-Pacific shares outside Japan tacked on 0.2 percent and has so far managed to hold up in November after three straight monthly declines. For the year, it is on track for its worst annual performance since 2011, in part due to anxiety over a weakening outlook for corporate profits. Japan’s Nikkei rose 0.5 percent while Australian shares advanced 0.6 percent.

    Wall Street: The Dow Jones Industrial Average ended flat at 24,464.69, the S&P 500 gained 8.04 points, or 0.30 percent, to 2,649.93 and the Nasdaq Composite added 63.43 points, or 0.92 percent, to 6,972.25.

    Crude Oil Prices: US West Texas Intermediate (WTI) crude futures, were at $53.71 per barrel at 0051 GMT, 8 cents above their last settlement. Front-month Brent crude oil futures were yet to trade.

    Check out more market opening cues.

  • Mohan Shenoi of Kotak Mahindra Bank expects Rupee to trade in between 71.10-71.50/$##Mohan Shenoi of Kotak Mahindra Bank expects Rupee to trade in between 71.10-71.50/$

  • Top stocks to watch out for on November 22: Jet Airways, Maruti Suzuki, RIL##Top stocks to watch out for on November 22: Jet Airways, Maruti Suzuki, RIL


    Maruti Suzuki: The company expects the new Ertiga to clock better sales than the previous model. "The company is ready with the production capacity to meet the demand. Post the opening of the booking, we have received about 10,000 bookings," said RS Kalsi, executive director - marketing and sales, Maruti Suzuki.

    Vodafone Idea: The telecom operator plans to invest Rs 27,000 crore in 2019-20, supported by savings of around Rs 14,000 crore that it expects to come from synergising operations of merged entities, according to a company's document.

    UltraTech Cement: The company on Wednesday said its board has approved a proposal to incorporate Binani Cement Ltd (BCL) as it a wholly-owned subsidiary.

    Reliance Industries: RIL-owned Reliance Jio Infocomm will serve the country's largest and most sought-after accounts in telecom - the railways - from January 1, with officials saying it is likely to slash the national transporter's phone bills by around 35 percent at least.

    Check out more hot stocks for today.

  • US stocks up on tech shares, crude gains and other global cues##US stocks up on tech shares, crude gains and other global cues

    Markets: Equity indices were higher as techs rallied and rebounding oil pushed energy stocks higher. Activity, however, was very subdued as NY investors seemed to take off early. The U.S. stock market will be closed on Thursday for Thanksgiving & will close early on Friday. Markets gave back gains though to close near session lows. Close: SPX +0.30 percent, Nasdaq +0.92 percent. USD gave back some of the prior day gains overnight, further suggesting it was all just a pre-holiday scramble. 
     
     
    Oil prices: WTI rebounded towards $56 before cooling right back off towards $54.45. Bearish sentiment still holds in the short-term, but positioning is a lot cleaner. U.S. weekly inventory data continues to show significant supply builds in crude oil. It is another reminder why the short-term outlook for oil remains fundamentally bearish for now. Counter to API's estimate of a -1.545mn bbl draw in the last week, the official DoE report just released shows a bigger than expected +4.851mn build. 
     
     
    Eyes on US retail: Eyes will be on the U.S. retail sector into next week – soundbites regarding 5-day “Black Friday” shopping performance. The National Retail Federation predicts that this year, an estimated 164mn people will shop both online and stores, with 71 percent of them expected to be active on Friday itself.
     
     
    Steady U.S. data: a) Existing home sales were largely in-line with expectations, b) confidence data was okay.

  • Vodafone Idea plans to invest Rs 27,000 crore in FY20##Vodafone Idea plans to invest Rs 27,000 crore in FY20


    The country's largest telecom operator Vodafone Idea plans to invest Rs 27,000 crore in 2019-20, supported by savings of around Rs 14,000 crore that it expects to come from synergising operations of merged entities, according to a company's document. The debt-ridden company has advanced its target date to complete integration of Vodafone and Idea Cellular business to financial year 2021 from fiscal 2023. Read more

  • Petrol selling at Rs 81.50/litre, Diesel at Rs 74.34/litre in Mumbai##Petrol selling at Rs 81.50/litre, Diesel at Rs 74.34/litre in Mumbai

  • S&P 500 gains with energy, tech but ends near day's low##S&P 500 gains with energy, tech but ends near day's low


    The S&P 500 ended higher on Wednesday after a brutal two-day selloff, led by a rebound in energy and technology shares, but the market faltered towards the session's end as Apple shares surrendered gains ahead of the Thanksgiving holiday.


    The Dow also gave up its gains to end flat, while the S&P 500 ended near its session lows, a sign of lingering bearishness. Read more

  • Asian shares edge up but sentiment fragile on growth worries##Asian shares edge up but sentiment fragile on growth worries

    Asian shares stepped ahead cautiously on Thursday while oil rebounded from a steep sell-off, though rising US interest rates and escalating trade tensions kept financial markets on edge amid signs of slackening global growth.

    MSCI’s broadest index of Asia-Pacific shares outside Japan tacked on 0.2 percent and has so far managed to hold up in November after three straight monthly declines. For the year, it is on track for its worst annual performance since 2011, in part due to anxiety over a weakening outlook for corporate profits.

    Japan’s Nikkei rose 0.5 percent while Australian shares advanced 0.6 percent. Read more

    ALSO READ: This micro-cap IT stock surges 125% in the last 13 days, 101% in November

  • Here's a set of market data to help you guide in trade today##Here's a set of market data to help you guide in trade today

    MORNING CUES
    FIIs net sell Rs 1,652 crore in cash market (3238-4890).
    DIIs net buy Rs 607 crore in cash market (3683-3076).
    FIIs Net Buy 2112 Cr in F&O
    Date: November 21, 2018 
    Source: NSE
     
    FIIs in F&O
    FIIs net sell Rs 705 crore in Index Futures, Open Interest +4919 contracts.
    FIIs net buy Rs 2,784 crore in Index Options, Open Interest -4127 contracts.
    FIIs net sell Rs 111 crore in Stock Futures, Open Interest +9214 contracts.
    Date: November 21, 2018 
    Source: NSE
                     
    INDEX CUES
    Nifty Spot closed at 10,600.05 down by 56.15 points.
    India VIX closed at 19.5550 up by 1.18 percent
     
    F&O Ban 
    Still in Ban: Adani Enterprises, Adani Power, DHFL, Jet Airways, PC Jeweller
     
    NOVEMBER SERIES:
    Nifty Open Interest -2.6 percent; sheds 6.25 lakh shares.
    Nifty November Futures trading at 21.55 points premium against 15.75 points premium.
    Nifty Bank Open Interest +7.4 percent; adds 1.15 lakh shares.
     
    OPTION CUES 
    Nifty PCR fell to 1.55 from 1.64
     
    NOVEMBER SERIES: Maximum Open Interest at 10,000 Put & 11,000 Call.
    10,600 Call adds 8.49 lakh shares, premium at 104 vs 140. 
    10,700 Call adds 5.13 lakh shares, premium at 55 vs 82. 
    10,700 Put sheds 3.9 lakh shares, premium at 130 vs 107.
     
    NIFTY BANK OPTIONS
    Spot at 26,262
    Maximum Open Interest at 26,000 Put & 26500 Call
    26000, 26100 Puts most active 
     
    STOCK FUTURES
    Dr Reddy’s +6.5 percent
    Open Interest -6 percent, Short Covering 
     
    Dalmia Bharat +5 percent
    Open Interest +5.5 percent, Short Covering 
     
    Vodafone Idea +5 percent
    Open Interest -1.7 percent, Short Covering 
     
    Exide Industries +5 percent
    Open Interest -9.6 percent, Short Covering 
     
    TCS -3.5 percent
    Open Interest +2.3 percent, Fresh Shorts
     
    Infosys -3.5 percent 
    Open Interest -2.6 percent, Long Unwinding

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