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Closing Bell: Sensex, Nifty end lower dragged by Reliance Industries, Infosys, TCS, ITC, HDFC Bank, midcaps outperform, Asian Paints, Yes Bank support

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The BSE Sensex and the NSE Nifty50 ended Friday mildly lower dragged by Reliance Industries, HDFC, Infosys, TCS and ITC amid weak global cues. Benchmark indexes opened largely flat outperforming Asian peers, but broader market indexes outperformed frontline indexes. Public sector downstream companies have gained from bearish trend in crude oil prices. Yes Bank shares continued their nine session uptrend. However, Bharti Airtel shares are down as Moody's has put its debt rating under review. Here are the main highlights from the stock markets today:

Closing Bell: Sensex, Nifty end lower dragged by Reliance Industries, Infosys, TCS, ITC, HDFC Bank, midcaps outperform, Asian Paints, Yes Bank support
  • Sensex heatmap at close: Yes Bank jumps 5.5%, Bharti Airtel, Infosys top loser##Sensex heatmap at close: Yes Bank jumps 5.5%, Bharti Airtel, Infosys top loser

    Closing Bell: Sensex, Nifty end lower dragged by Reliance Industries, Infosys, TCS, ITC, HDFC Bank, midcaps outperform, Asian Paints, Yes Bank support
  • Closing Bell: Sensex, Nifty end lower, RIL, Infosys, TCS, ITC, HDFC Bank drag##Closing Bell: Sensex, Nifty end lower, RIL, Infosys, TCS, ITC, HDFC Bank drag


    The Sensex settled at 35,158, down by 79 points, or 0.22 percent, while the Nifty closed at 10,585, lower by 13 points, or 0.12 percent. Benchmark indexes were dragged lower by Reliance Industries, HDFC Bank, ITC, Infosys, Tata Consultancy Services, and ICICI Bank along with SBI, Tata Steel and Bharti Airtel. Asian Paints, Yes Bank, Maruti Suzuki, Hindustan Unilever and Sun Pharma batted for the bulls. Broader markets indexes outperformed the frontline indices with the Nifty MidCap ending 1.2 percent higher. The BSE MidCap surged well over half a percent. Nifty Pharma with 1.25 percent surge was leading the 26 advancing sectors, while BSE IT was the weakest among 17 declining sectors, posting 1.19 percent losses.

    Among top index gainers, Yes Bank shares surged 5.5 percent, while Hindustan Petroleum Corp. too surged more than 5 percent. Indiabulls Housing Finance, Asian Paints, Adani Ports surged more than 3.5 percent. Hero MotoCorp and Sun Pharma gained more than 2 percent. Top laggards included Infosys, Dr Reddy's Labs, Hindalco, Bharti Airtel, Gail, Reliance, SBI and TCS falling by up to 3 percent.

  • Tanfac Industries limit up 5% as Q2 PAT seen up##Tanfac Industries limit up 5% as Q2 PAT seen up

    Shares of BSE-listed Tanfac Industries hit an upper price limit of 5 percent as the company is expected to report strong July-September numbers on Monday. A sharp rise in global prices of products made by Tanfac Ind, mainly of aluminium fluoride, is likely to boost earnings and the company is expected to repeat its performance of sharp growth seen in the recent quarters. In April-June, Tanfac's net profit had surged 462 percent on year to Rs 130.88 million, while revenue had risen 42 percent to Rs 557.70 million. In January-March, the net profit was Rs 22.96 million and revenue was Rs 477.50 million. At 3.05 pm, shares of Tanfac Industries were at Rs 325.85, up 5 percent from the previous close. So far in 2018, shares of Tanfac Industries have risen 150 percent. (Cogencis)

  • Asia indices end lower as US Fed may hike rates in December##Asia indices end lower as US Fed may hike rates in December

    Key Asian equity indices ended lower today after the US Federal Reserve, at its monetary policy meeting which concluded on Thursday, indicated it remains on track to hiking interest rates in December. Hong Kong's Hang Seng and China's Shanghai Composite were the major losers in the region, down 2.39 percent and 1.74 percent, respectively. Energy stocks were the biggest losers, following a slump in global crude oil prices overnight.

  • HAL shares jump more than 15% on good results, Sensex, Nifty cut losses##HAL shares jump more than 15% on good results, Sensex, Nifty cut losses

    Hindustan Aeronautics (HAL) posted a huge jump in its net profit for September quarter at Rs 289.42 crore. The company had posted a profit of Rs 67.9 crore last year. The revenue rose 10 percent at Rs 2,610 crore against Rs 2,373 crore reported last year. At an operating level, the earnings before interest, taxes, depreciation and amortization (EBITDA) came in at Rs 523 crore against Rs 125 crore posted last year. 

    HAL shares jumped more than 13 percent to trade at Rs 890.90 on the NSE at 3.10 pm. Intra-day, it touched the day's high of Rs 899.85. Meanwhile, the Nifty reduced losses, but still traded 10 points down to 10,588. The Sensex also traded lower by 56 points, or 0.16 percent, at 35,186.

  • Capital framework is a legitimate idea to be discussed at the board level, says Sanjeev Sanyal##Capital framework is a legitimate idea to be discussed at the board level, says Sanjeev Sanyal

  • Axis Bank shares gain after Avantha Holdings offers Rs 24-billion for stressed power project##Axis Bank shares gain after Avantha Holdings offers Rs 24-billion for stressed power project


    Shares of Axis Bank gained on news that Avantha Holdings has offered Rs 24.3 billion to lenders for its Jhabua power plant to save the stressed project and escape insolvency proceedings. Axis Bank is the lead lender to the company. Shares of Axis Bank were trading up 1.1 percent at Rs 613.70. 

  • Strides Pharma surges as arm inks pact with SUDA Pharma, Sensex falls 125 points##Strides Pharma surges as arm inks pact with SUDA Pharma, Strides Pharma surges as arm inks pact with SUDA Pharma, Sensex falls 125 points

    Shares of Strides Pharma Science gained 10 percent to hit their one-month high of Rs 471.85 as the company's step-down wholly-owned subsidiary Strides Pharma Global, Singapore, has entered into a licensing and supply agreement with SUDA Pharmaceuticals for the latter's novel drug SUD-001H for the US market. SUD-001H is an oral spray formulation of Sumatriptan, which is one of the most widely used drugs to treat acute migraine in adults. Sumatriptan is currently marketed in tablet form and in a nasal spray by GlaxoSmithKline under brand name Imitrex, the company said. (Cogencis)

    Shares traded at Rs 469.10, higher by 9.39 percent on the NSE at 2.10 pm. The benchmark Sensex dipped 125 points, or 0.35 percent, to trade at 35,113. The Nifty was trading at 10,569, down by 29 points, or 0.28 percent. 

        

  • Flows into equity mutual funds for the month of October rise 31%, come in at Rs 14,783 crore##Flows into equity mutual funds for the month of October rise 31%, come in at Rs 14,783 crore

  • Indian Bank shares slump more than 5% post Q2 results, Sensex, Nifty in the red##Indian Bank shares slump more than 5% post Q2 results, Sensex, Nifty in the red


    Shares of Indian Bank slumped 5.39 percent to trade at Rs 247.50 on the NSE at 1.25 pm. The lender reported Q2 earnings with net profit at Rs 150.1 crore against Rs 451.5 crore on YoY basis. Meanwhile, the Nifty slipped in the red, down by 21 points, or 0.20 percent, to trade at 10,578 at 1.27 pm. The Sensex was trading at 35,169, lower by 68 points, or 0.19 percent. 

  • Here's what to expect from Titan Company's Q2 earnings later in the day##Here's what to expect from Titan Company's Q2 earnings later in the day


    Titan Company is expected to announce its September quarter earnings on Friday. Our poll for Titan expects revenue to grow by about 26 percent in this quarter, EBITDA to grow by about 21 percent and margins could come off by about 40 bps. Net profit for the quarter is expected to increase 16 percent to Rs 350-355 crore. Read more

  • Wipro falls on concerns over sales from energy vertical, Nifty IT down##Wipro falls on concerns over sales from energy vertical, Nifty IT down

    Shares of Wipro fell nearly 3 percent on concerns that the slump in global crude oil prices may hurt the company's revenues from the energy, natural resources and utilities vertical in coming quarters. Meanwhile, shares of information technology companies fell today after a recovery in rupee against the US dollar weighed on sentiment. As information technology companies earn most of their revenues in dollar terms, a rise in the rupee against the dollar dampens sentiment for such companies.

  • Linde India up on hope promoter offer for share attractive##Linde India up on hope promoter offer for share attractive

    Shares of Linde India surged 19 percent on hope that promoter entity BOC Group may make an attractive offer to shareholders to buy their shares and go ahead with its plan to delist the company from Indian stock exchanges. Linde India said its board will meet on Wednesday to consider the delisting proposal by BOC Group. The promoter entity currently holds 75 percent stake in Linde India and plans to acquire 25 percent stake held by public shareholders. ICICI Securities has been appointed for the delisting proposal. Linde India said the delisting price will be determined in accordance with the reverse book building process, and shareholders may offer their respective shares at any price higher than the floor price. At 12 pm, shares of Linde India traded 15.6 percent higher at Rs 562, with over 1.4 million shares traded as against a daily average of 30,144 shares on the NSE. (Cogencis)

  • Market update: Sensex, Nifty trade flat, OMCs, Asian Paints, Yes Bank among top gainers##Market update: Sensex, Nifty trade flat, OMCs, Asian Paints, Yes Bank among top gainers

    Indian equities traded flat on Friday recovering from the opening lows. The Sensex traded at 35,245.32, marginally up by 7.64 points, or 0.02 percent at 11.25 am, while the Nifty was at 10,607.85, higher by 9.45 points, or 0.09 percent. Broader markets outperformed with the Nifty MidCap surging by more than a percent, while the BSE MidCap traded up by 0.8 percent. Among sectors, 33 advanced, while 10 declined. Among 33 advancing, Nifty Pharma surged the most by 1.6 percent. BSE Auto also surged more than a percent. BSE IT was leading the flatering sectors, dipping by 1.13 percent. BSE Teck, Nifty IT, Nifty and BSE Metal were other laggards among sectoral indices. HPCL, Asian Paints, Yes Bank, Sun Pharma, Adani Ports, Maruti Suzuki, surged by up to 4.62 percent. Shares of Infosys, JSW Steel, Wipro, Bharti Airtel, Hindalco, TCS and Tata Steel dipped by up to 2.3 percent.

  • RBI minutes on demonetization: Issue was under discussion between govt and RBI for 6 months##RBI minutes on demonetization: Issue was under discussion between govt and RBI for 6 months

  • Yes Bank marks longest winning run since July, up 4%, Sensex, Nifty flat##Yes Bank marks longest winning run since July, up 4%, Sensex, Nifty flat

    Shares of Yes Bank marked their longest winning streak since July and rose 4 percent as investors believe that the worst on the asset quality and management crisis at the bank is over. Some investors are of the view that the bank's asset quality concerns will wane in the coming quarters after high provisions in July-September, said dealers. Shares of the bank have risen 24 percent in nine sessions, reflecting the market's view that the bank's strong lending capacity and loan growth will help it tide over the ongoing crisis. Yes Bank's stock came under heavy selling in September after the RBI denied another three-year term to its chief executive officer Rana Kapoor and asked the bank to replace him by February 1, 2019. At 1031 IST, shares of Yes Bank were up 3.5 percent at Rs 223.70. (Cogencis)

    Shares traded at Rs 224.35, up by 3.89 percent on the NSE at 10.55 am. The Nifty traded flat at 10,604.20, up by 6 points, or 0.05 percent, while the Sensex rose 8 points, or 0.01 percent, to trade at 35,242.

  • Dredging Corp. up as govt gets nod for stake sale##Dredging Corp. up as govt gets nod for stake sale

    Shares of Dredging Corp of India gained  to hit their one-month high of Rs 384.10 as the Cabinet Committee on Economic Affairs approved divestment of government's entire stake in the company to four major ports. The government, which currently holds 73.44 percent in Dredging Corp, will sell its stake to a consortium of Vishakhapatnam Port Trust, Paradip Port Trust, Jawahar Lal Nehru Port Trust, and Kandla Port Trust, an official release said on Thursday. The stake sale by the government is to help meet its Rs 800-billion divestment target for 2018-19 (April-March). So far today, over 490,129 shares of the company were traded on the NSE, much higher than its three-month daily average traded volume of 218,626 shares. (Cogencis)

  • Bharti Airtel sinks 6%, Sensex, Nifty edge lower##Bharti Airtel sinks 6%, Sensex, Nifty edge lower

    Shares of Bharti Airtel fell 6 percent after global rating agency Moody's Investors Service said it has put its rating on the company's debt on review for downgrade. Shares traded at Rs 297.20, down by nearly 3 percent on the BSE at 9.52 am. The benchmark Sensex was down by 145 points, or 0.41 percent, to trade at 35,080. The Nifty was at 10,572, lower by 26 points, or 0.25 percent. 

  • Sensex heatmap at 9.31 am: Yes Bank top gainer, Bharti Airtel top loser##Sensex heatmap at 9.31 am: Yes Bank top gainer, Bharti Airtel top loser

    Closing Bell: Sensex, Nifty end lower dragged by Reliance Industries, Infosys, TCS, ITC, HDFC Bank, midcaps outperform, Asian Paints, Yes Bank support
  • Opening Bell: Sensex, Nifty start lower on weak global cues, Bharti Airtel dips 5%##Opening Bell: Sensex, Nifty start lower on weak global cues, Bharti Airtel dips 5%


    Indian shares opened 0.4 percent lower on weak global cues as US Federal Reserve hinted it may continue to raise interest rates with a fourth hike likely next month. The Nifty was down by 43 points, or 0.4 percent, to trade at 10,555, while the Sensex slipped by 178 points, or 0.5 percent, to trade at 35,059 at 9.20 am. Shares of Bharti Airtel slipped 5 percent as global rating agency Moody's downgraded rating on the stock. Broader markets outperformed with the Nifty MidCap surging more than half a percent. The BSE MidCap was mildly higher by 0.20 percent. Among top index gainers, Bharti Infratel, oil marketing companies of HPCL, IOC and BPCL, IndusInd Bank, Sun Pharma, Adani Ports, Asian Paints and Power Grid Corp shares jumped by up to 3 percent. Apart from Bharti Airtel, Hindalco, JSW Steel, Wipro, Tata Steel, HDFC and Infosys slipped by up to 3.31 percent. 

  • Here's the list of stocks that are in focus going into trade today##Here's the list of stocks that are in focus going into trade today

  • Indian rupee opens at 72.70 against the US dollar, Sensex, Nifty flat##Indian rupee opens at 72.70 against the US dollar, Sensex, Nifty flat

    The Indian rupee opened stronger at 72.70 against the US dollar, after closing at 72.99 on Tuesday. Indian market was closed for two day on the occasion of Diwali. Meanwhile, benchmark indexes settled mildly higher in pre-open trade at 9.08 am with the Nifty at 10,614.70, up by 16.30 prices, or 0.15 percent. The Sensex was at 35,258, higher by 20.45 points, or 0.06 percent. 

  • DGCA asks Jet Airways, SpiceJet to take corrective action on Boeing 737 MAX aircraft##DGCA asks Jet Airways, SpiceJet to take corrective action on Boeing 737 MAX aircraft


    In light of the latest findings in Lion Air plane crash, Indian aviation regulator DGCA has asked Jet Airways and SpiceJet to undertake corrective action proposed by Boeing and the US aviation regulator on their Boeing 737 MAX planes. Currently, Jet Airways and SpiceJet fly Boeing 737 MAX planes in India. Together, there are at least six such aircraft with the two carriers and over 400 are yet to be delivered. Read more

  • This micro cap stock gave 245% return in last one year##This micro cap stock gave 245% return in last one year


    Shares of Birla Cable Ltd touched a new 52-week high of Rs 196.65 on Wednesday during Diwali 'Muhurat' trading, jumping more than 5 percent from its Tuesday's close of Rs 187.30. Read more

  • Here's the list of all the companies that will be releasing earnings for Q2 quarter today##Here's the list of all the companies that will be releasing earnings for Q2 quarter today

  • Top stocks to watch out for on November 9: Titan, MRF, Glenmark Pharma, JSW Steel##Top stocks to watch out for on November 9: Titan, MRF, Glenmark Pharma, JSW Steel


    MRF: Tyre major posted a 12.29 percent decline in its profit at Rs 263.04 crore for the quarter ended September 30, 2018, on account of higher expenses. Total income rose to Rs 4,004.85 crore for the quarter under review, up 9.41 percent as compared with Rs 3,660.22 crore in the same period of the previous year, MRF said in a regulatory filing.

    Bharti Airtel: The telco's credit rating was placed under review for a possible downgrade by Moody’s Investors Service on high debt levels and weak cash flow generation.

    Glenmark Pharma: Company to launch Phase 1 trial in solid tumors for its CD38xCD3 Bispecific Antibody GBR 1342 based on human translational data.

    JSW Steel: Crude steel production increases 8 percent to 14.47 lakh tonnes in October 2018 against 13.43 lakh tonnes in same month last year.

    Check more hot stocks today.

  • Government to infuse Rs 3,054 crore in Allahabad Bank##Government to infuse Rs 3,054 crore in Allahabad Bank


    State-run Allahabad Bank on Thursday said the Centre is infusing Rs 3,054 crore into it during the current fiscal. "The bank has been informed by the government about fresh capital infusion of Rs 3054 crore towards contribution of the Central government in the preferential allotment of equity shares (special securities/bonds) of the bank during the financial year 2018-19, as government's investment," it said. Read more

  • Wall Street falls after Fed statement, energy shares tumble##Wall Street falls after Fed statement, energy shares tumble


    The S&P 500 and Nasdaq closed slightly lower on Thursday after a Federal Reserve statement, and energy stocks were the biggest drag on the S&P as US crude oil prices fell. The US central bank said after its two-day meeting that strong job gains and household spending were keeping the economy on track but business investment "moderated from its rapid pace earlier in the year," creating a possible drag on future economic growth. Read more

  • Here’s how brokerages rate Reliance Industries, Dr Lal, AB Capital and other shares##Here’s how brokerages rate Reliance Industries, Dr Lal, AB Capital and other shares

    Morgan Stanley on Reliance Industries:
    OVERWEIGHT call, target at Rs 1,230/share.
    Return of positive momentum in chemical margin attracted significant investor interest.
    Demand outlook is soft, but cost pressures are dissipating.
    Value Petchem and refining business at EV/EBITDA multiples of 8.0x & 6.5x.

    Morgan Stanley on Dr Lal Pathlabs:
    Q2 miss; focus remains on volume growth.
    UNDERWEIGHT call, target at Rs 810/share.
    See range-bound margin in near term; valuations look full.
    Company sees revenue growth of 15 percent and margin of 25 percent in FY19.
    May consider a price hike if volume growth is above 17-18 percent.

    Morgan Stanley on AB Capital:
    UNDERWEIGHT call, target at Rs 133/share.
    NBFC profits lower than estimate largely owing to higher operating costs.
    Profitability at AMC improved; growth moderated.
    Life insurance delivered strong operating performance, dragging overall accounting profits.

    Morgan Stanley on Sun Pharma:
    UNDERWEIGHT call, target at Rs 448/share.
    Taro announces $500 million special dividend.
    Taro continues to see competitive pressures in its derma portfolio.

    Citi on Dr Lal:
    Maintains BUY, target at Rs 1,150/share.
    Results broadly in-line with expectations. 
    Volume growth of 18 percent partly offset by lower realization. 
    Management commentary positive. 
    Company sees expects volume growth and margin buoyancy to be sustained.

    Citi on Biocon:
    BUY call, target at Rs 800/share.
    Biosimilars business is at an inflection point. 
    Risk-reward favourable at current levels.
    Company remains a top pick.

    Citi on Power Grid:
    BUY rating, target at Rs 232/share.
    Estimate EPS CAGR of 12 percent over FY18-21.
    Valuations are attractive.
    Drivers in place to drive transmission Capex beyond FY21.

    Citi on Voltas:
    BUY call, target at Rs 724/share.
    UCP performance in Q2 weak on industry-wide headwinds
    Structural thesis remains intact, including market share gain.
    EMP business rebounded from its lows and continues to shine.

  • 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 eased 0.06 percent. The index was still headed for a sizable gain of more than 6 percent this week, during which it rose to a one-month high. Australian stocks were flat, South Korea's KOSPI edged up 0.2 percent and Japan's Nikkei fell 0.2 percent.

    Wall Street: The Dow Jones Industrial Average rose 10.92 points or 0.04 percent, to 26,191.22, the S&P 500 lost 7.06 points or 0.25 percent, to 2,806.83 and the Nasdaq Composite dropped 39.87 points or 0.53 percent, to 7,530.89.

    Crude Oil Prices: Crude oil prices struggled near eight-month lows as investors focused on swelling global crude supply, which is increasing more quickly than many had expected. US crude futures were little changed at $60.69 per barrel after falling to $60.67 the previous day, the lowest since March 14.

    Check out more market opening cues.