The BSE Sensex closed 261 points lower, or 0.70 percent, to settle at 37,123. The NSE Nifty50 ended at 11003.50, 72 points lower, or 0.65 percent. The Nifty MidCap index settled mildy lower by 0.15 percent. The Nifty Bank under tumbled 0.87 percent. Apart from banks, finance, auto, metal, capital goods were the worst hit sectors, while pharma, FMCG and IT advanced. Among Nifty gainers, Titan, Britannia, Tech Mahindra, ONGC and Coal India surged the most, rising by up to 2.15 percent. BPCL, M&M, SBI, UPL and Indiabulls Housing Finance dipped between 2 and 7.3 percent.

-Benchmark indices extended their opening losses and fell nearly 1% each, as concerns over widening of current and fiscal deficit weighed on the sentiment, following a surge in crude oil prices after an attack on Saudi Arabia's oil facilities.
-Losses in the shares of state-owned oil refiners, Housing Development Finance Corp and Reliance Industries also weighed on the indices. Losses in the shares of banks and infrastructure companies -also contributed to the sell-off. 
-The Nifty50 was trading below the 11K mark, down 0.73 percent while the Sensex declined over 280 points to trade just above 37,100. 
-Earlier, domestic equity benchmark BSE Sensex plunged nearly 300 points in early session on Monday, dragged by oil and gas stocks, stoked by a massive surge in global crude prices.
-In the previous session on Friday, the BSE barometer settled 280.71 points higher at 37,384.99, while the broader NSE Nifty ended 93.10 points up at 11,075.90.
-Shares of oil and gas companies HPCL, BPCL, IOC, Castrol India and Reliance Industries plunged up to 7 percent.
-On the other hand, ONGC, TCS, HUL, TechM, PowerGrid, Sun Pahrma, Infosys, ITC, HCL Tech and NTPC rose up to 2.45 percent.
-The share price of Prabhat Dairy plunged 10 percent intraday after the company’s board approved delisting of shares at a much lower price.
-Shares of oil and gas companies were under pressure on Monday after crude oil prices surged over 10 percent following drone attacks in Saudi Arabian oil fields over the weekend, which effectively shut down 6 percent of the global oil supply.
 -Shares of Titan Co were the top gainers, up 1.6%, on optimism over sales growth as investors turned to safer investments after attacks on oil facilities in Saudi Aramco.

Crude oil prices saw a kneejerk reaction after an attack on Saudi Arabia's oil facilities cut over 5 percent of the global oil supply. The disruption in Saudi Arabia's global oil supply could impact countries which are major importers of Saudi crude, such as India, China and Indonesia.

International benchmark Brent crude futures rose by as much as 19.5 percent to $71.95 per barrel, the biggest intraday jump since January 14, 1991. By 12.03 PM, the front-month contract was at $66.31, up $6.09, or 10.1 percent, from its previous close. READ MORE

Housing & Urban Development Corporation (HUDCO) shares gained over 5 percent intraday on September 16 after the company received Rs 253 crore in full and final settlement of its dues. The company has received an amount of Rs 253.83 crore (principal outstanding Rs 81.87 crore) in full and final settlement of its dues in an old default matter since June 2004. Also, company achieved the level of loan sanctions of Rs 6,793.21 crore and loan releases of Rs 5,160.94 crore, as on August 31, 2019, for the financial year 2019-20. HUDCO shares quoted at Rs 38.85, up 2.78 percent on the NSE at 1.49 pm.

A rally in stock markets last week was driven by global sentiment as there were no domestic cues to support the market other than the expected announcement of measures for the real estate sector, said Udayan Mukherjee. Markets will remain range-bound amid surging oil prices and ahead of the US Federal Reserve's monetary policy decision this week, he added.

"So given the global mood is not terribly sour yet, we might just continue to drift in this 10,700-11,200 kind of zone. But if the hope over the weekend was that the real estate package etc will push us beyond that upper end of that trading range of 11,200, that may have to wait and we will get pushed back within that 400-500 points kind of a range,” he said. READ MORE

The Nifty Energy index was the biggest loser among sectoral indices led by losses in oil refining companies due to a sharp jump in global crude oil prices after a drone strike on Saudi Arabian Oil Co reduced around 5 percent of the global oil supplies. A rise in global crude oil prices is detrimental for oil refiners as it increases their import bill. The Nifty Energy index was down 1.5 percent. Shares of Bharat Petroleum Corp, Indian Oil Corp and Hindustan Petroleum Corp were down 2-7 percent.

India's Wholesale Price Index-based (WPI) inflation was 1.08 percent in August, unchanged from July, data published by the Ministry of Commerce and Industry showed on Monday. August WPI was expected to slide to 0.95 percent, as per a CNBC-TV18 poll.

-The NSE Nifty50 holds the 11,000 mark, trading 0.62 percent lower at 12.30 pm. The BSE Sensex is down by over 200 points, or 0.60 percent, below 37,200.  

-Earlier, domestic equity benchmark BSE Sensex plunged nearly 300 points in early session on Monday, dragged by oil and gas stocks, stoked by a massive surge in global crude prices.

-In the previous session on Friday, the BSE barometer settled 280.71 points higher at 37,384.99, while the broader NSE Nifty ended 93.10 points up at 11,075.90.

-Shares of oil and gas companies HPCL, BPCL, IOC, Castrol India and Reliance Industries plunged up to 7 percent.

-On the other hand, ONGC, TCS, HUL, TechM, PowerGrid, Sun Pahrma, Infosys, ITC, HCL Tech and NTPC rose up to 2.45 percent.

-The share price of Prabhat Dairy plunged 10 percent intraday after the company’s board approved delisting of shares at a much lower price.

-Shares of oil and gas companies were under pressure on Monday after crude oil prices surged over 10 percent following drone attacks in Saudi Arabian oil fields over the weekend, which effectively shut down 6 percent of the global oil supply.

Another one bites the dust in the housing finance sector, and this time it’s one of the largest foreign-owned non-banking financial company (NBFC) by networth in India - Altico Capital. The company handles more than Rs 4,000 crore of outstanding loans and has recently defaulted on its interest payments worth Rs 20 crore to Mashreq Bank of Dubai on Rs 340 crore of external commercial borrowing (ECB). READ MORE

Shares of Equitas Holdings (EHL) fell 17 percent on Monday after Securities and Exchange Board of India (Sebi) returned the draft scheme for listing its wholly-owned subsidiary Equitas Small Finance Bank (ESFB). The company is advised to re-submit the same after ensuring compliance with the provisions mentioned in the Sebi circular. The stock plunged as much as 16.9 percent to Rs 97.30 per share on the BSE. At 9:58 am, the stock was trading 15.88 percent lower at Rs 98.50 as compared to a 0.5 percent or 199 points fall in the BSE Sensex at 37,185. READ MORE

A mini-recession is returning in 2020 or 2021, said Arun Mantry, senior manager, Karvy Stock Broking, in an exclusive interview with CNBCTV18.com, adding that it will begin from the US market. Domestically, Mantry said that the market sentiment is unlikely to improve despite the government announcing measures to revive the economy, as the steps taken are mostly medium-term or long-term. He added that for immediate improvement in the market sentiment, the government needs boosters like GST rate cut in the auto sector, increase in government spending, announcements on infrastructure and consumption. READ MORE

The dollar fell while safe havens and currencies of oil-producing countries rallied on Monday, following an attack on Saudi Arabian refining facilities that disrupted global oil supply and heightened Middle East tensions. The Canadian dollar rose 0.4 percent to 1.3233 per dollar. The Norwegian krone rose 0.5 percent to 8.9363 per dollar. Both currencies often move together with the oil price because the countries are major oil exporters. In India, a major importer of crude, the rupee fell almost 0.7 percent. The safe-haven Japanese yen and Swiss franc both firmed. The yen rose 0.3 percent to 107.79 per dollar and the franc rose 0.4 percent to $0.9883. Gold jumped by 1 percent. Against a basket of currencies the dollar edged lower to 98.162. The Chinese yuan weakened 0.25 percent to 7.0631 per dollar.

-Domestic equity benchmark BSE Sensex plunged nearly 300 points in early session on Monday, dragged by oil and gas stocks, stoked by a massive surge in global crude prices.

-In the previous session on Friday, the BSE barometer settled 280.71 points higher at 37,384.99, while the broader NSE Nifty ended 93.10 points up at 11,075.90.

-Shares of oil and gas companies HPCL, BPCL, IOC, Castrol India and Reliance Industries plunged up to 7 percent.

-On the other hand, ONGC, TCS, HUL, TechM, PowerGrid, Sun Pahrma, Infosys, ITC, HCL Tech and NTPC rose up to 2.45 percent.

-The share price of Prabhat Dairy plunged 10 percent intraday after the company’s board approved delisting of shares at a much lower price.

-Shares of oil and gas companies were under pressure on Monday after crude oil prices surged over 10 percent following drone attacks in Saudi Arabian oil fields over the weekend, which effectively shut down 6 percent of the global oil supply.

Shares of oil and gas companies were under pressure on Monday after crude oil prices surged over 10 percent following drone attacks in Saudi Arabian oil fields over the weekend, which effectively shut down 6 percent of the global oil supply. Among stocks, oil marketing companies plunged with HPCL down 5 percent, while BPCL and IOC fell 4.5 percent and 3 percent, respectively in morning deals. Reliance Industries also declined in morning trade, down over 2 percent. READ MORE

The share price of Prabhat Dairy plunged 10 percent intraday after the company’s board approved delisting of shares at a much lower price. The floor price is set at Rs 63.77 per share, which is at a discount of 20 percent to the closing price as on September 13. READ MORE

Indian benchmark indices BSE Sensex and NSE’s Nifty 50 started sharply lower on Monday after oil prices surged over 10 percent, which could impact India’s current account deficit. Oil prices jumped to an over six-month high and shares in Asia edged lower as investors moved to safe-haven assets after attacks on Saudi Aramco’s oil facility. However, new government measures to prop up the economy and continued foreign capital inflows may cap losses. The benchmark 30-share S&P BSE Sensex declined 227 points, or 0.61 percent, in initial tick to 37,158. The broader 50-share NSE Nifty50 also dipped 75 points, or 0.67 percent, to 11,001. Broader market indices also fell in tandem with their frontline peers with the Nifty MidCap 100 down by 98.50 points, or 0.62 percent, to 15869. The Nifty SmallCap 100 also fell well over half a percent, while the banking gauge slipped 0.85 percent. READ MORE

The finance ministry is looking at strategic divestment of BPCL and eyeing private entity participation as fuel retail business in India is mostly run by state-run oil marketing companies. CNBC-TV18 reported on this on September 06. Market share in fuel retail business in India is currently at about 50 percent with IOC, about 25 percent each in HPCL and BPCL. The idea of strategic divestment is to monetise government’s investments made in public sector companies. READ MORE

Here are the top buy-sell ideas by market experts for Monday:

Sudarshan Sukhani - s2analytics.com

- Sell BPCL with a stop loss of Rs 390, target at Rs 365

- Sell Punjab National Bank with a stop loss of Rs 66, target at Rs 61

- Buy Adani Ports with a stop loss of Rs 360, target at Rs 385

- Buy HDFC with a stop loss of Rs 2,030, target at Rs 2,200

Click or tap to check out more buy-sell ideas for today

Jefferies on oil: Drone attacks on key Saudi's oil infra have taken over 5 percent of global oil, the brokerage said. In India, ONGC and Oil India will benefit but the OMCs may suffer, it added. The brokerage continues to like IOC, Petronet LNG, and GAIL.

Credit Suisse on Oil: Even before Saudi’s supply disruption, global oil markets were poised for a tighter second half of 2019, the brokerage said, adding that they believe improved fundamentals should trigger re-rating as expectations are low.

Click or tap to check out more brokerage calls for today

Apart from the general weakness in the financial markets at present, sharp fall in some prominent stocks have caught the retail investors by surprise. Traders have resorted to panic selling, often at rates even less than a rupee, some over reports of allegations of fraud and others over poor corporate governance or fast dwindling financials. Such companies even saw the foreign investors lowering there bets on them over a period of time. One such stock, Cox & Kings, turned out to be the biggest wealth destroyers in the past year. READ MORE

China’s industrial production growth skidded to its weakest pace in 17 years and a half in August, expanding just 4.4 percent year-on-year, signaling further weakness in an economy hit by the trade war and slowing demand. August’s figure is the slowest since February 2002. Fixed-asset investment for the first eight months of the year rose 5.5 percent, according to data published by the National Bureau of Statistics, compared with a 5.6 percent rise forecast by analysts. Private sector fixed-asset investment, which accounts for about 60 percent of the country’s total investment, grew 4.9 percent in January-August, compared with a 5.4 percent rise in the first seven months of 2019. Retail sales growth slowed to 7.5 percent, compared with 7.6 percent in July. Analysts surveyed by Reuters had expected growth of 7.9 percent.

MORNING CUES
Date: September 13, 2019
Source: NSE
FIIs net sell Rs 405 crore in cash market (3142-3547)
DIIs net buy Rs 210 crore in cash market (2977-2768)
FIIs net buy Rs 1612 crore in F&O

FIIs in F&O
Date: September 13, 2019
Source: NSE
FIIs net buy Rs 300 crore in Index Futures, Open Interest +13745 contracts
FIIs net buy Rs 1180 crore in Index Options, Open Interest +30023 contracts
FIIs net buy Rs 127 crore in Stock Futures, Open Interest +12839 contracts

F&O Ban: NIL

INDEX CUES
Nifty Spot closed at 11075.9 up by 93.1 points
INDIA VIX closed at 13.9 down by 6.66 percent
 
SEPTEMBER SERIES
Nifty Open Interest -2.2 percent, sheds 3.7 lakh contracts
Nifty September Futures Trading at 29.5 point Premium vs 13.65 point Premium 
Nifty Bank Open Interest +2.6 percent, adds 40,760contracts
 
OPTION CUES
Nifty PCR at 1.34 vs 1.24 
 
WEEKLY OPTIONS
11000 Put Adds 11.28 lakh shares, Premium at 29.6
10950 Put Adds 8.1 lakh shares, Premium at 19.25
11200 Call Adds 5.1 lakh shares, Premium at 24.1
 
SEPTEMBER SERIES
10800 Put and 11200 Call have maximum Open Interest 
 
STOCK FUTURES
BPCL +6.3 percent
Open Interest +19.4 percent, Fresh Longs
 
IOC +4.8 percent
Open Interest +2.6 percent, Fresh Longs
 
TITAN +3.5 percent
Open Interest +2.3 percent, Fresh Longs
 
GLENMARK -3.4 percent
Open Interest +3.9 percent, Fresh Shorts
 
MOTHERSUMI +4.6 percent
Open Interest -5.6 percent, Long Unwinding
 
KAJARIA +4 percent
Open Interest +1.4 percent, Fresh Longs