Closing Bell: Nifty ends 1.2% higher, Sensex jumps 373 points led by HDFC twins, metal, pharma shares rise, IT shares weak

HDFC twins, ICICI Bank, Vedanta, TCS among top Sensex gainers, Infosys among laggards##HDFC twins, ICICI Bank, Vedanta, TCS among top Sensex gainers, Infosys among laggards

Closing Bell: Sensex, Nifty end higher led by financials##Closing Bell: Sensex, Nifty end higher led by financials

The BSE Sensex jumped nearly 373 points, or 0.99 percent, to close at 38,090.64, while the NSE Nifty50 ended above 11,500 mark, settling at 11,515.20, surging by 145.30 points, or 1.28 percent. Midcaps posted a sharp rise. The Nifty MidCap surged by 1.80 percent, or by 343 points, and the BSE MidCap climbed 1.62 percent, or by 260 points. All sectoral indices ended in the green, but IT and FMCG were among the weakest. Realty, metal, pharma, bank and financials traded sharply higher.

Astec Life Board approves merger of the company with Godrej Agrovet##Astec Life Board approves merger of the company with Godrej Agrovet

Sensex, Nifty rise sharply ahead of close, Rashtriya Chemicals & Fertilizers rises 18%##Sensex, Nifty rise sharply ahead of close, Rashtriya Chemicals & Fertilizers rises 18%

Shares of state-run Rashtriya Chemicals and Fertilizers Ltd traded at Rs 73.80, up by 8.69 percent at 3.10 pm on the NSE. Intra-day, the stock surged 17.23 percent to Rs 79.60 on Friday, in their sharpest intraday percent gain in over 3 years. More than 5.2 million shares change hands in first 30 minutes of trade, compared with 30-day average of about 1.6 million shares. Stock is the top percent gainer on Nifty 500 index.

Meanwhile, benchmark indexes extended gains ahead of market close. The BSE Sensex jumped 380 points, or by 1.01 percent, to trade at 38,098 at 3.10 pm, while the NSE Nifty 50 crossed 11,500 mark, to trade at 11,520.55, higher by 150.65 points, or  by 1.32 percent.

Ashok Leyland shares soar 3.5% after Bangladesh AC buses order##Ashok Leyland shares soar 3.5% after Bangladesh AC buses order

Ashok Leyland bags order for supply of 200 single decker AC buses in Bangladesh. Shares of Ashok Leyland traded at Rs 132.35, rising by 3.52 percent on the NSE at 3.05 pm. 

Bandhan Bank shares rise 4.4%, lender backs out of race from PNB Housing Finance##Bandhan Bank shares rise 4.4%, lender backs out of race from PNB Housing Finance

Shares traded at Rs 623.45, higher by 1.74 percent on the NSE at 2.55 pm. Shares in Bandhan Bank Ltd rise as much as 4.4 percent to Rs 639.70, biggest intraday percent gain in over five weeks. Kolkata-based private-sector lender has backed out of the race to buy PNB Housing Finance Ltd, an ET report said. Meanwhile, the NSE Nifty 50 traded higher by nearly 119 points or 1.05 percent, to 11,489. The BSE Sensex rose 322 points, or 0.85 percent, to 38,039.78.

Ekta Batra's quick take on Sun Pharma, SPARC's gain in trade today##Ekta Batra's quick take on Sun Pharma, SPARC's gain in trade today

 
Sun Pharma and SPARC gained today on news that the US had approved its drug used for eye conditions Xelpros. The product is from SPARC’s pipeline and is in licensed from Sun’s Halol plant. The drug is filed from Sun’s Halol facility. Estimates are that Sun could make upto $70 million in peak revenue from the drug. SPARC will earn milestone and royalty payments from the drug. This approval is important as it negates earlier concerns from the Halol plant which had received six observations from the USFDA in a product specific inspection that ended in August. What makes Xelpros different from other drugs in the market is that it is BAK-free. That means it does not contain benzalkonium chloride a preservative which could impact ocular surface on prolonged use. 

Fertiliser companies’ shares gain as Modi government to boost farm income##Fertiliser companies’ shares gain as Modi government to boost farm income

Shares of fertiliser companies rose 1-9 percent on expectation of strong operations in the coming years after the government reiterated its commitment to increase farm income. UPL surged 4.52 percent to trade at Rs 735.45, adding Rs 31.80 in value. The stock hit an intra-day high of Rs 736, after opening at Rs 710. Rashtriya Chemicals and Fertilizers ltd shares were up 9.28 percent rising to Rs 74.20 on the NSE at 1.43 pm. It touched an intra-day high of Rs 79.60, after opening at Rs 79.25. Fertilizers and Chemicals Travancore ltd shares surged 10.67 percent to Rs 47.20. The scrip opened at the day's low of Rs 44 and hit an intra-day high of Rs 50.80. National Fertilizers ltd rose 4.92 percent to trade at Rs 46.95. It hit an intra-day high of Rs 49.95, after opening at Rs 46.60. Shares of Nagarjuna Fertilizers and Chemicals ltd rose 4.86 percent to Rs 12.95. Madras Fertilizers Ltd rose 1.78 percent to Rs 25.75. It hit an intra-day high of Rs 27.05. Gujarat State Fertilizers & Chemicals ltd climbed 2.67 percent to Rs 113.30.

August WPI Inflation comes in at a 4-month low##August WPI Inflation comes in at a 4-month low

NBCC India rises on buyout of government-owned consultancy firm##NBCC India rises on buyout of government-owned consultancy firm

State-owned construction company NBCC (India) Ltd’s shares rise as much as 5.3 percent to Rs 70.4 in biggest daily percent gain in a week. Stock among top percent gainers on Nifty PSE index. Shares traded at Rs 69.35, rising by 3.74 percent at 1.05 pm on the NSE. The company is going to buy out 100 percent government stake in hospital services consultancy firm HSCC for Rs 2.85 billion ($39.7 million), it said here on Thursday. Separately, India’s top court has selected NBCC to construct the stalled projects of real estate firm Amrapali, media reports said on Thursday. NBCC was not immediately available for comment. Over 3.6 million shares traded at 1.05 pm, compared with their 30-day average of 5.1 million shares. Stock has fallen over 45 percent this year, as of last close. Benchmark equity indexes traded higher as rupee extended gains. The NSE Nifty 50 traded at 11,473.50, rising by 103.60 points, or 0.91 percent at 1.10 pm, while the BSE Sensex crossed the 38,000 mark, trading at 38,002.37, surging by 284.41 points, or 0.75 percent. (Reuters)

Vedanta gains on discovery of hydrocarbon block##Vedanta gains on discovery of hydrocarbon block

Shares of Vedanta rose 3.5 percent to Rs 231.45 after the mining giant said it has discovered a hydrocarbon block at the A3-2 well of Krishna-Godavari basin in the Bay of Bengal. Vedanta, however, said the company would need to run more tests of the oil and gas found to determine the block's commercial viability. The company holds 100 percent participating interest in the block. Over the past 30 days, shares of the company have surged 7 percent, while in 2018 so far, the stock has shed 30 percent. (Cogencis)

Alembic Pharma gets USFDA tentative nod for Kazano tablet's generic##Alembic Pharma gets USFDA tentative nod for Kazano tablet's generic

Shriram Transport Finance rises##Shriram Transport Finance rises

Shares of Shriram Transport Finance Co. ltd rose 1.63 percent to trade at Rs 1,196.55, adding Rs 19.20 in value. The stock opened at Rs 1,144 and has ranged between Rs 1,217 and Rs 1,140. Shriram Transport in is focus as the SVL Ltd, holding company of Shriram Group's non-financial businesses is admitted into the bankruptcy process. The stock however is off lows as the amount involved in SVL is unlikely to have meaningful impact on profit and loss of Shriram Transport. 

Sun Pharma shares rise over 2% post USFDA nod for eye drug##Sun Pharma shares rise over 2% post USFDA nod for eye drug

Sun Pharma shares trade higher by 2.14 percent at Rs 663.80, adding Rs 14 in value. The stock has rnaged between a high of Rs 670.90 and a low of Rs 658, after opening at Rs 665. The pharma firm got a big boost as the US Food and Drug Administration (FDA) approves eye drug, Xelpros from the Halol facility. The approval triggers milestone payment to SPARC and other royalties, also negates concerns on Halol. 

Balrampur Chini Mills rises nearly 8.5 percent##Balrampur Chini Mills rises nearly 8.5 percent

Shares of Balrampur Chini gained 8.46 percent to trade at Rs 84.20, adding over Rs 6 in value. The stock trades above its 20 day, 50 day and 100 day moving average, but lower than 200 day average. After opening at Rs 79.60, the sugar stock has ranged between a high of Rs 85.20 and a low of Rs 78.55 on the NSE. Speaking to CNBCTV18, Balrampur Chini's Vivek Saraogi said that the ethanol hike move by the government is a major positive and can lead to a rise in ethanol capacity by almost 7 crore litres by next year. Also, Saraogi doesn't expect sugar prices to come down anytime soon. Meanwhile, equity indexes have sustained opening gains. The NSE Nifty 50 traded at 11,456 levels, higher by nearly 86 points, or by 0.72 percent at 10.25 am. The BSE Sensex has also sustained gains, trading at 37,923, surging by nearly 205 points, or 0.54 percent. 

BSE, PTC and ICICIBank to launch Power Exchange##BSE, PTC and ICICIBank to launch Power Exchange

Oil marketing companies' shares see sharp surge, Sensex, Nifty trade higher##Oil marketing companies' shares see sharp surge, Sensex, Nifty trade higher

Shares of oil marketing companies surged on Friday tracking a 2 percent overnight fall in global crude oil prices as a monthly report showed global supply at record high and as Hurricane Florence weakened ahead of its expected landfall on the US east coast. HPCL gained by 4.01 percent to trade at Rs 250, while ICO shares jumped 2.62 percent to Rs 153. BPCL also rose 3.61 percent to Rs 346.25. Meanwhile, the BSE Sensex traded higher by 208 points, or 0.55 percent, to 37,926.52. The NSE Nifty 50 traded at 11,444.35, up by 74.45 points, 0.65 percent at 9.55 am.

Pharma, energy, metal, PSU bank shares among Sensex gainers##Pharma, energy, metal, PSU bank shares among Sensex gainers

Opening Bell: Sensex, Nifty open higher by nearly 1%##Opening Bell: Sensex, Nifty open higher by nearly 1%

The Sensex surged over 221 points, or 0.6 percent, to 37,939, while the Nifty added nearly 74 points, or 0.6 percent, to 11,443.50. At 9.16 am, the Sensex climbed over 332 points, or 0.88 percent, to trade at 38,050.30. The Nifty also jumped nearly 102 points, or 0.90 percent, to 11,471.80.

Rupee opens at 1-week high of 71.70 against the US dollar##Rupee opens at 1-week high of 71.70 against the US dollar

The Indian rupee opened 49 paise higher against the US dollar against Wednesday's close of 72.19/S. It is the highest opening level the rupee has seen since September 7. The government 10-year bond yield opens at 8.10 percent against Wednesday's close of 8.13 percent. 

Here's what Deutsche Bank has to say about the IIP & CPI numbers from Wednesday##Here's what Deutsche Bank has to say about the IIP & CPI numbers from Wednesday

Here’s how brokerages rate specific stocks##Here’s how brokerages rate specific stocks

Axis Cap on PFC:
Maintains BUY call, target at Rs 95/share.
Co still has a sizeable stressed private sector loan book. 
Early resolution of stressed cases could have an upside risk to estimates.
Did not factor in additional provision that may be written back in next few quarters.

Morgan Stanely On Reliance Industries:
Reliance Jio has reintroduced its ‘Phonepe cashback’ offer.
Jio and Airtel taking caliberated yet aggressive approach for subscriber acquisition. 
Believe Jio's priority is to continue gaining subscribers.

Citi on HDFC Life:
Vibha Padalkar’s elevation as MD and CEO should ensure a smooth transition.
Maintains SELL rating, target at Rs 380/share.
Stock valuations expensive at current levels.

Citi on Cements:
Average cement realisations should be flattish to higher QoQ,
Would BUY into the weakness of cement stocks.
Expect prices to rise over the medium term as m&a activity slows.
UltraTech and Ambuja are our top picks and have a catalyst watch on ACC.
Target for ACC at Rs 2,000/share, Ambuja at Rs 295/share. 
Target for UltraTech at Rs 5,000/share, Shree Cements at Rs 19,750/share.
Target for Dalmia Bharat at Rs 3,175/share.

Jefferies on Pharma stocks:
India focus has increased with US challenges.
Sustaining scale is important in India.
Expect large players to gain though growth will be low-double digit.
R&D and in-licensing will gain prominence; see consolidation increasing.
Natco, Lupin better placed; Cipla and Dr Reddy’s need to increase focus.
Remain cautious on large cap given premium valuations.

HSBC on macro data: Expects quarterly GDP growth to moderate to 7.1% from 8.2% by year-end##HSBC on macro data: Expects quarterly GDP growth to moderate to 7.1% from 8.2% by year-end

Here’s how brokerage firms rate specific stocks##Here’s how brokerage firms rate specific stocks

Credit Suisse On Shriram Transport:
Holding company SVL admitted into bankruptcy process. 
Likelihood of corporate guarantees issued supporting SVL bonds getting invoked.
Raise credit cost estimates and cut growth expectations.
FY19-21 EPS estimates cut by 8-17 percent
Maintains NEUTRAL call, target cut to Rs 1,250 from Rs 1,500/share.

Macquarie on United Spirits: 
Retains UNDERPERFORM, target at Rs 443/share.
Reversal in input cost deflation will limit gross margin expansion.
Expect A&P spend to remain high on higher competitive intensity.
Price increases can become difficult in the run-up to general elections.

Deutsche Bank on PFC:
BUY call, target at Rs 110/share.
Unlike other NBFCs, impact of Ind AS was negative for the company.
On NIMs, it could continue to remain under some stress.

Deutsche Bank on JSW Steel:
BUY call, target raised to Rs 440 from Rs 390/share.
Rising margins driven by a depreciating rupee, strong domestic demand.
See EBITDA growth of 79 percent and earnings CAGR of 25 percent over FY18-21.
Revise earnings estimate for FY19/20 by -1.2 percent/6.8 percent.

Morgan Stanley raises Sensex target to 42,000##Morgan Stanley raises Sensex target to 42,000

Sensex to rise to 42,000 for September 2019 from 36,000 in June, says Morgan Stanley's Ridham Desai.
Indian equities continue to be in an uptrend mode. 
Investors should invest in favourite under performers. 
Adding SBI, Apollo Hospitals and Prestige Estates to our portfolio.

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

Here is what you need to know before the opening bell##Here is what you need to know before the opening bell

Asia: Shares nudged higher on Friday as moves by the United States and China to resolve a bitter trade dispute and a sharp interest rate hike in crisis-hit Turkey supported global risk appetite. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.4 percent in early trade.

US: On Wall Street, the Dow Jones Industrial Average rose 0.57 percent on Thursday, the S&P 500 gained 0.53 percent and the Nasdaq Composite added 0.75 percent.

Dollar index: The dollar’s index against a basket of six major currencies stood little changed at 94.563 after slipping 0.3 percent on Thursday, when it touched 94.428, its lowest since August 31. The dollar rose 0.08 percent against the yen to 112.01, while the euro was flat at $1.1688.

Oil prices: US crude was 0.4 percent higher at $68.88 a barrel as Hurricane Florence approached the US east coast. Brent crude also up 0.4 percent, to $78.48 per barrel.

Check more Market Opening cues.

Following stocks are likely to see some action in today's trades##Following stocks are likely to see some action in today's trades

Cadila Health: Zydus received final nod from the USFDA for Risedronate Sodium delayed-release tablets.

Dr Reddy's Labs: The pharma company announced the launch of Neostigmine  Methylsulphate injection in the US.

Pharma: The government has banned 328 combination drugs referred to as fixed-dose combinations (FDCs). The health ministry on Wednesday said the board had found there was “no therapeutic justification for the ingredients contained in 328 FDCs and that these FDCs may involve risk to human beings”.

PNB Housing Finance: Seven bidders have shown interest in buying PNB Housing Finance in a deal estimated to be around $2.3 billion, according to a report in The Times of India. The list of bidders, who submitted initial offers on Monday, include Bandhan Bank, Dewan Housing Finance, Godrej, and a group led by Singapore’s GIC and Blackstone.

SBI: The PSU lender has appointed Prashant Kumar, deputy MD, as CFO of the bank with immediate effect.

Check out more Hot Stocks today.

Here is a set of indicators before the market opens today##Here is a set of indicators before the market opens today

FIIs & DIIs: FII net sell Rs 1086 crore in cash market (4220-5306), while the DIIs net buy Rs 541 crore in cash market (3380-2838). FIIs net buy Rs 721 crore in F&O on Thursday, according to data available on the NSE. 

 
FIIs in F&O: FII net sell Rs 391 crore in index futures, open interest in 6,117 contracts, while FII net buy Rs 819 crore in index options, open interest in 19,575 contracts. FII net buy Rs 382 crore in stock futures, open interest in over 15,946 contracts.
 
Index Cues: Nifty Spot closed at 11369.9 up by 82.4 points. India VIX closed at 14.25 down by 7.05 percent.
 
F&O Ban: Adani Enterprises enters into the ban period. 
 
September Series: Nifty open interest falls by 2.3 percent, sheds 6.39 lakh shares, while Nifty September futures trading at 47.45 points premium v/s 48.75 points premium. Nifty Bank open interest rises 0.5 percent, adds 8160 shares.

Bulk and block deals (Trade price is per share)

Ajmera Realty & Infra: 2.76 percent equity exchanged hands at Rs 213.2. Atul Chhotalal Ajmera (director) sold, while April Trust bought. 

Sumit Woods Ltd: Kamlesh Balchand Shah bought 0.73 percent equity at Rs 45.3. 

GSS Infotech Ltd: Margi Jigneshbhai Shah bought 0.56 percent equity at Rs 102.95.

BCP: Ashish Chhotubhai Hamid bought 0.35 percent equity at Rs 35.45. 

Block deals: NIL
 
 

SGX Nifty Futures indicate a strong opening for Indian equities today##SGX Nifty Futures indicate a strong opening for Indian equities today