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This article is more than 3 year old.

Closing Bell: Sensex, Nifty close with mild gains as ICICI Bank, HDFC Bank, NTPC drag, HDFC, Infosys, Kotak Bank support, midcaps outperform

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Indian shares ended with mild gains on Friday, erasing gains from the day. The Nifty closed below the 10,900 mark, while the Sensex settled close to the 36,200 mark. Shares of Yes Bank recovered more than 6 percent in early trade. HDFC, Infosys,TCS, supported indexes, while Tata Motors, ICICI Bank and HDFC Bank dragged indexes. Midcaps outperformed ending well above half a percent. Here are the main highlights from the stock markets today:

Closing Bell: Sensex, Nifty close with mild gains as ICICI Bank, HDFC Bank, NTPC drag, HDFC, Infosys, Kotak Bank support, midcaps outperform
  • Sensex heatmap at close: Yes Bank, Wipro top gainers, Tata Motors, ICICI Bank top losers##Sensex heatmap at close: Yes Bank, Wipro top gainers, Tata Motors, ICICI Bank top losers

    Closing Bell: Sensex, Nifty close with mild gains as ICICI Bank, HDFC Bank, NTPC drag, HDFC, Infosys, Kotak Bank support, midcaps outperform
  • Closing Bell: Sensex, Nifty end mildly higher, midcaps outperform##Closing Bell: Sensex, Nifty end mildly higher, midcaps outperform

    The Sensex ended at 36,194, up by 24 points, or 0.07 percent, while the Nifty settled at 10,877, higher by 18 points, or 0.17 percent. The Nifty MidCap outperformed, closing 0.63 percent higher, while the BSE MidCap also closed up by 0.56 percent. 

  • Lupin shares surge 2.5 percent, Sensex, Nifty in the green##Lupin shares surge 2.5 percent, Sensex, Nifty in the green

    Lupin shares gained more than 2.5 percent after the launch of skin infection treatment cream in the United States. Share straded at Rs 889.85, higher by 2.49 percent on the NSE at 3.07 pm. Meanwhile, the equity market recovered ahead of the closing trade with the Nifty trading at 10,868, up by 10 points, or 0.09 percent. The Sensex rose by 56 points, or 0.15 percent, to trade at 36,226. Yes Bank shares gained 5.5 percent and Wipro 3 percent. Tata Motors fell more than 3 percent.

  • Market update: Sensex holds 36,000, Nifty below 10,850##Market update: Sensex holds 36,000, Nifty below 10,850


    The Nifty traded at 10,841, down by 17.65 points, or 0.16 percent at 2.25 pm, while the Sensex was at 36,105, down by 55 points, or 0.15 percent. The Nifty MidCap outperformed, rising by 0.43 percent. Shares of Yes Bank, Cipla, Wipro, Indiabulls Housing, M&M, Kotak Mahindra, Maruti Suzuki traded higher by up to 4.4 percent. HPCL, Tata Motors, UPL, Bharti Infratel, NTPC, Vedanta, ICICI Bank and IndusInd Bank dipped by up to 4 percent.

  • Kesoram Industries surges on report of demerger of tyre operations##Kesoram Industries surges on report of demerger of tyre operations
     

    Shares of Kesoram Industries gained 10 percent to hit their three-month high of Rs 89 on reports said that the company may consider demerger of its tyre business. The announcement is expected in the next two weeks. So far today, over 2.1 million shares of the company were traded on the NSE, much higher than their three-month daily average volume of 383,584 shares. At 1.36 pm, shares of the company were 6.7 percent higher at Rs 86.25.

  • Nifty Bank 80 points off day's low##Nifty Bank 80 points off day's low

  • RCom up 15% as SC tells government to clear spectrum sale##RCom up 15% as SC tells government to clear spectrum sale


    Shares of Reliance Communications rose nearly 15% after the Supreme Court asked the government to clear company's spectrum sale. However, the company has to submit the corporate guarantee in two days, a week after which the Department of Telecommunications will grant a no-objection certificate. Reliance Communications will give Rs 14 billion as corporate guarantee. The DoT had claimed Rs 29 billion from the company as spectrum usage charge.

  • Vakrangee hits 5% upper circuit, rises for sixth session##Vakrangee hits 5% upper circuit, rises for sixth session


    Shares of Vakrangee were locked in the 5% upper circuit, rising for the sixth consecutive session. The shares gained after Economic Offences Wing closed the inquiry on the company and gave it a clean chit last week. The probe agency had conducted an inquiry against the company and its promoter on allegations of stock price manipulation. So far this year, the stock has fallen over 92 percent. 

  • Asian Oilfield up 5% on Rs 276.5-million contract win##Asian Oilfield up 5% on Rs 276.5-million contract win


    Shares of BSE-listed Asian Oilfield Services were locked in a 5 percent upper circuit at Rs 83.70 as the company, after market hours on Thursday, said it has received a letter of award for a contract worth Rs 276.5 million from Oil & Natural Gas Corp. The contract is for hiring of services for two-dimensional seismic data acquisition in Himalayan foreland area. The stock has been rising for five sessions now and has gained over 19%. 

  • Vodafone Idea down 5% as CRISIL cuts long-term rating, Sensex, Nifty sustain gains##Vodafone Idea down 5% as CRISIL cuts long-term rating, Sensex, Nifty sustain gains

    Shares of Vodafone Idea fell 5 percent to hit its one-month low of Rs 35.95 after CRISIL downgraded its rating on the long-term bank facilities of the company to A+/Negative from AA-/Negative. The credit risk profile of the company will continue to be affected by competition, and the quantum and timeliness of synergy benefits will be one of the key rating sensitivity factors, CRISIL said. The ratings agency also raised concerns over the company's weak earnings and high debt. It has assigned A+ rating with a negative outlook to the company's 60-bln-rupee non-convertible debentures. Shares of Vodafone Idea were down nearly 4 percent at Rs 36.50 at 11.22 am. The broader Nifty50 traded at 10,903, highe rby 45 points, or 0.41 percent. The Sensex was up 183 points, or 0.51 percent, to 36,353.

  • Future Retail up as Edelweiss Special Fund buys stake##Future Retail up as Edelweiss Special Fund buys stake

    Shares of Future Retail gained 3 percent after Edelweiss Special Opportunities Fund acquired 0.8 percent stake or 4.04 million shares in the company at Rs 525.90 a share through a block deal on BSE. So far today, over 2.02 million shares of the company were traded on the NSE, much higher than their three-month daily average volume of 804,619 shares. Shares of the company traded 2.1 percent higher at Rs 514.85 at 10.40 am.

  • Tata Motors falls on reports of JLR to pause manufacturing at UK unit##Tata Motors falls on reports of JLR to pause manufacturing at UK unit

    Shares of Tata Motors fell 4 percent to hit their one-month low of Rs 170.35 after a report said that the company's subsidiary Jaguar Land Rover will pause production at its engine factory in the UK till Christmas. The two-week production freeze is set to affect 500 full-time employees at the engine manufacturing centre in Wolverhampton, the report said. The affected staff will continue to receive full pay during the freeze. Shares of the company were 2.2 percent lower at Rs 173.40. So far in 2018, the stock has lost as much as 60 percent.  

  • Tata Motors top Nifty loser, ZEEL up over 2%##Tata Motors top Nifty loser, ZEEL up over 2%

  • Opening Bell: Sensex, Nifty start higher, Nifty Bank starts in the red##Opening Bell: Sensex, Nifty start higher, Nifty Bank starts in the red

    The Sensex started more than 100 points higher, or 0.29 percent, at 36,274 in initial trade, while the Nifty neared the 10,900 mark, starting at 10,890, rising more tan 31 points, or 0.29 percent. The Nifty MidCap mirrored gains in frontline indexes, rising 0.29 percent. The Nifty Bank, however, started in the red, down by 0.11 percent, dragged by HDFC Bank and Kotak Mahindra Bank. Shares of Zee Entertainment, Indiabulls Housing Finance, Yes Bank, Gail surged by up to 2.27 percent, while Tata Motors, Adani Ports, Bharti Infratel, Titan and HDFC Bank were among major losers, falling by up to 3 percent.

  • Pre-open market update: Sensex at 36,304, Nifty eyes 10,900##Pre-open market update: Sensex at 36,304, Nifty eyes 10,900


    In pre-open trade, the Sensex settled at 36,304, rising 134 points, or 0.37 percent at 9.08 am, while the Nifty neared the 10,900 mark, up by 33.40 points, or 0.31 percent, to 10,892.

  • Rupee opens higher at 69.67 against the US dollar##Rupee opens higher at 69.67 against the US dollar


    The Indian rupee opened higher at 69.67 against the US dollar on Friday. On Thursday, the home currency had closed at 69.84 against the greenback.

  • These are the stocks making the biggest moves premarket##These are the stocks making the biggest moves premarket

  • DMart and Shankara Buildpro — a tale of two listings##DMart and Shankara Buildpro — a tale of two listings


    Mart supermarket chain, owned by Avenue Supermarts Ltd, and Shankara Buildpro, a leading player in the organised home improvement retail space, were listed in 2017. Both the stocks were well received by the D-Street and turned into multibaggers within a short period of time. From issue price, DMart gained 460 percent, while Shankara surged 415 percent. Read more

  • Here’s how Morgan Stanley rates Havells, Titan, SBI##Here’s how Morgan Stanley rates Havells, Titan, SBI


    Havells:
    EQUAL-WEIGHT call, target at Rs 712/share.
    Demand momentum remains firm across key product categories.
    Good traction in new categories such as water purifier, personal grooming.
    Company will continue to invest in brand building over the next 2-3 years. 

    Titan:
    OVERWEIGHT call, target at Rs 1,250/share.
    Jewellery industry facing issues around credit availability.
    This is driving near-term strong new customer acquisition for company.
    Capex requirement over FY19-20 low as most new stores will be franchisees.

    SBI:
    OVERWEIGHT call, target at Rs 350/share.
    Loan growth improved last quarter and bank expects this to continue.
    Expects margin to improve further as NPLs reduce.
    Co Expects Slippages To Moderate In H2FY19 Vs H1FY19
    Slippages & Credit Costs Should Be 2% In FY19 As Guided
    For Fy20, Slippages & Credit Costs To Moderate To Less Than 1.3% & 1.1%.

  • Mark Mobius says Fed chairman Jerome Powell is feeling the Trump power##Mark Mobius says Fed chairman Jerome Powell is feeling the Trump power

  • Here’s how brokerages rate Tata Motors, Maruti Suzuki, Reliance Industries, Marico##Here’s how brokerages rate Tata Motors, Maruti Suzuki, Reliance Industries, Marico

    UBS on Tata Motors:
    Maintains NEUTRAL, target cut to Rs 200 from Rs 280/share.
    China adds to uncertainty; India trucks peaking.
    Sharp deterioration in China volumes clouded JLR outlook. 
    Estimates still have downside if situation in China does not improve.
    Turning cautious on India's truck market outlook. 
    Cut JLR global volume growth estimates from -2%/-1% in FY19/20 to -5%/-1%.

    CLSA on Maruti Suzuki:
    Retains BUY call, target at Rs 9,200/share.
    Expect a gradual recovery ahead with ownership costs tapering off.
    Margin likely to be weak in Q3 due to high discounts. 
    Cut FY19-21 EPS estimates by 3%.

    Jefferies on Reliance Industries:
    Maintains UNDERPERFORM, target at Rs 935/share.
    Telecom net adds may ease but remain impressive.
    Stay underperform on rich valuations.
    Jio’s net addition boosted by a sharp uptick in Rajasthan and Madhya Pradesh 
    Net liability continues to rise.

    Citi on Marico:
    BUY rating, target at Rs 430/share.
    See a consistent fall in Copra prices.
    Copra tailwinds should boost overall GMs from this quarter. 
    See this as opportunity for the company to invest in accelerating growth.
    Estimate 13% / 16% revenue / EPS CAGR over FY18-21. 

    HSBC on Sun TV:
    Biggest worry is the company’s constant declining viewership share.
    New channel also not getting much traction. 
    Higher investment required to enter new markets. 
    Reiterates HOLD; target cut to Rs 703 from Rs 855/share.
    Cuts ad revenue estimates & earnings estimates by 4-5% for FY20/21.

  • Top stocks to watch out for on November 30: Bajaj Auto, Sun Pharma, HUL, GSK Consumer##Top stocks to watch out for on November 30: Bajaj Auto, Sun Pharma, HUL, GSK Consumer


    Vedanta: Vedanta Resources wants US oilfield services companies to set up consortia to help develop the 41 blocks in India acquired this year by its Cairn Oil & Gas unit, the company's chairman said on Thursday.

    Bajaj Auto: The company on Thursday launched an upgraded version of its 150 cc bike Pulsar 150 Neon priced at Rs 64,998 (ex-showroom Delhi).

    Hindustan Unilever, GSK Consumer Healthcare:  The companies clarified that Unilever is nearing the deal to add Horlicks to its mix. GSK Consumer said that there is potential in merging the company. However, the company said that there is no assurance that the transaction will result from the review process and no decision has been taken yet.

    Check out more hot stocks for today

  • 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 was down 0.1 percent. In Japan, the Nikkei was up 0.2 percent. The mostly muted market moves followed a mixed day on Wall Street, where stocks swung between losses and gains to ultimately end lower, amid conflicting signals on the outlook for trade talks.

    Wall Street: The Dow Jones Industrial Average fell 27.59 points, or 0.11 percent, to 25,338.84, the S&P 500 lost 5.99 points, or 0.22 percent, to 2,737.8 and the Nasdaq Composite dropped 18.51 points, or 0.25 percent, to 7,273.08.

    Crude Oil Prices: US West Texas Intermediate (WTI) crude futures were at $51.30 per barrel at 0023 GMT, down 15 cents, or 0.3 percent from their last settlement. International Brent crude oil futures had yet to trade. The supply overhang has triggered a price slump of more than 30 percent in crude since early October.

    Check out more market opening cues

  • US markets closed lower, G20 Summit among major global cues##US markets closed lower, G20 Summit among major global cues


    Markets: Global markets remained deadlocked amid ongoing trade uncertainties and into the FOMC minutes. The latter made an explicit dovish transition to data dependence, confirming recent Fedspeak. Trade sentiment leaned more optimistic but we still don’t know what Saturday’s G20 dinner will bring. 

    - Sentiment left USD trading sideways above recent ‘Powell’ lows. 
    - U.S. 10-year yields did the same with support marked by 3%.
    - Equities took back some of Powell’s rally. Close: Dow -0.11%, SPX -0.22%, Nasdaq -0.25%.
    - WTI recovered back through $50 towards $52 with the help of OPEC chatter.


    G20 begins today: The G20 also officially kicks off. One-on-one meeting between Xi and Trump is worth watching. Trump said he is close to doing something with China, only to add that he doesn’t know if he wants to.


    US-China trade - what may happen?: The WSJ reports that the two nations are looking at a new trade “architecture,” where China would first make concessions in the areas of farm and energy in exchange for the US suspending tariffs. This is said to be a starting point for further negotiations – trade negotiations with China would then enter a “ceasefire period”. Bloomberg adds “the two sides have also been eyeing a possible mid-December trip to Washington by Liu He, Xi’s top economic adviser, according to two people familiar with the discussions.”


    FOMC minutes: A December hike is still expected but 2019 is more in question. USD moved little on the minutes given the preview from Jay Powell & peers. “Almost all participants” were onboard for a December hike, data allowing, but “a couple of participants” and a “few participants” collectively raised concerns on “further increases.”


    S&P report on US: Bloomberg highlights note that the rating agency has bumped up 2019 US recession probabilities from a range of 10-15% to 15-20%.

  • SGX Nifty Futures indicate a higher opening on Dalal Street today##SGX Nifty Futures indicate a higher opening on Dalal Street today

  • RBI relaxes asset securitisation norms for NBFCs##RBI relaxes asset securitisation norms for NBFCs


    The Reserve Bank of India (RBI) on Thursday relaxed rules for non-banking financial companies (NBFCs) to sell or securitise their loan books, in a bid to ease persistent stress in the sector. NBFCs can now securitise loans of more than five-year maturity after holding those for six months on their books, the Reserve Bank of India said. Earlier, they had to hold these assets for at least one year, a banker said. Read more

  • Can Unilever make Horlicks taller, stronger and sharper?##Can Unilever make Horlicks taller, stronger and sharper?

    Ever since GlaxoSmithKline announced that it’s putting Horlicks on the block, the world wanted a sip. According to media reports, at some point or the other, there was interest from Coca-Cola, Pepsico, ITC, Unilever, Nestle, Mondelez and some private equity players among others. Even Zydus-Cadila was in the fray until it became a Complan boy in October. Read more

  • 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 buy Rs 823 crore in cash market (8878-8055).
    DIIs net buy Rs 973 crore in cash market (7649-6676).
    FIIs net buy Rs 6,424 crore in F&O.
    Date: November 29, 2018 
    Source: NSE
     
    FIIs in F&O
    FIIs net buy Rs 3,303 crore in Index Futures.
    FIIs net buy Rs 2263 crore in Index Options.
    FIIs net buy Rs 657 crore in Stock Futures.
    Date: November 29, 2018 
    Source: NSE
                     
    INDEX CUES
    Nifty Spot closed at 10,858.70 up by 129.85 points.
    India VIX closed at 18.6975 up by 4.11%
     
    F&O Ban: NIL 
     
    ACROSS SERIES:
    Nifty Open Interest +7.4%; November-December Rollovers at 71%.
    Nifty November-December rollovers at 71% against 3 month average of 69%.
    December Series with Nifty Open Interest of 1.93 crore shares against 3 month average of 2.05 crore shares.
    Nifty December Futures trading at 31.7 points premium against 26.85 points premium.
    Nifty Bank Open Interest +38.9%; Rollovers at 72%
     
    OPTION CUES 
    Nifty PCR at 1.75 v/s 1.81
     
    DECEMBER SERIES: Maximum Open Interest at 10,500 Put and 11,000 Call
    10,700 Put adds 9.61 lakh shares, premium at 134
    10,800 Put adds 8.87 lakh shares, premium at 165
    10,900 Call adds 4.46 lakh shares, premium at 191
     
    STOCK FUTURES
    ADANI ENTERPRISES +7%
    Open Interest -1.2% across Series 
     
    M&M FINANCE +5%
    Open Interest +13.6% across Series 
     
    CEAT +4.5%
    Open Interest -8.0% across Series 
     
    KOTAK MAHINDRA BANK +4%
    Open Interest +16.1% across Series 
     
    BEL -5%
    Open Interest +26.7% across Series 
     
    DHFL -4%
    Open Interest -1.3% across Series 
     
    REC -4%
    Open Interest +13.9% across Series