Closing Bell: Sensex end 0.5% lower, Nifty dips below 10,300, Nifty MidCap down 1.25%##Closing Bell: Sensex end 0.5% lower, Nifty dips below 10,300, Nifty MidCap down 1.25%
Indian shares ended lower on Monday after trading largely positive through the day. Benchmark indexes turned negative in the last hour of trade, dragged by sharp selling in Reliance Industries, IndusInd Bank, other financial majors along with a weakness in Infosys and TCS. Gains in ICICI Bank and HDFC Bank along with HDF were not enough to make up for losses from the above stocks. The Sensex ended 0.53 percent lower, or by 181 points, to settle at 34,134. The Nifty closed below the 10,300 mark, at 10,245, down by 58 points, or 0.57 percent. Midcaps turned sharply negative with the Nifty MidCap dipping by 1.25 percent. As many as 38 sectors closed in the red with the BSE Energy leading with nearly 3 percent losses. Nifty Energy and BSE Oil & Gas also dipped more than 2.5 percent. Only 5 sectors advanced led by Nifty Finance which gained nearly 0.6 percent.
Market update: Sensex, Nifty fall 0.4 percent ahead of close, Reliance falls 3.2%##Market update: Sensex, Nifty fall 0.4 percent ahead of close, Reliance falls 3.2%
Indian shares plunged further ahead of close, dragged lower by Reliance Industries, which fell 3.2 percent in trade along with IndusInd Bank, Kotak Bank, Infosys, Asian Paints, ONGC, Yes Bank, TCS among others. ICICI Bank, HDFC bank, NTPC and Hindustan Unilever supported indexes. The Sensex traded 152 points lower, or 0.44 percent, to trade at 34,163.31 at 3.10 pm. The Nifty slipped 45 points, or 0.44 percent, at 10,258.
PNB Housing Finance recovers from the day's low##PNB Housing Finance recovers from the day's low
Shares of PNB Housing Finance traded at Rs 705, down by 0.16 percent, but off from the day's low of Rs 700. The stock opened at Rs 708.70 and touched the day's high of Rs 744.40. According to CNBC-TV18, PNB Housing Finance has raised Rs 1,775 crore through commercial papers in October.
IndusInd Bank hits 52-week low, Nifty turns negative, Sensex flat##IndusInd Bank hits 52-week low, Nifty turns negative, Sensex flat
Shares of IndusInd Bank declined to a 52-week low of Rs 1435.60, plunging 9 percent in intra-day trade on Monday. The stock quoted at Rs 1437.75, still down by 8.81 percent at 2.38 pm. The stock opened at Rs 1,590 and touched the day's high of Rs 1,600.40. IndusInd Bank was the top loser on the Nifty Bank along with RBL, Yes, IDFC, Federal, Axis and Kotak Mahindra Banks. Benchmark indexes slipped into the red. The Nifty traded 0.18 percent lower, down by 18.50 points, at 10,285.05 at 2.40 pm, while the Sensex traded flat at 34,321, up by 6 points, or 0.02 percent.
Dewan Housing down as foreign investor sells 2.6% stake##Dewan Housing down as foreign investor sells 2.6% stake
Shares of Dewan Housing Finance Corp plunged as much as 9 percent to hit a one-and-a-half-year low of Rs 190.60 as Singapore-based Jasmine Capital Investments sold 2.6 percent stake in the company on Friday. The foreign investor sold shares at Rs 213.13 each, through a bulk deal on the NSE. Shares of the company fell for the fifth consecutive session and lost 34 percent during this period. So far today, over 34.1 million shares of the company have exchanged hands on the NSE, sharply higher than the daily average trading volume of 2.28 million shares. (Cogencis)
Kansai Nerolac Paints falls 3.4% post Q2 results##Kansai Nerolac Paints falls 3.4% post Q2 results
Shares of Kansai Nerolac Paints ltd fell 3.45 percent to trade at Rs 402, after the company's July-September profit comes in below estimates. For the quarter, the company declared net sales of Rs. 1286 Crores, a growth of 10.7 percent over the corresponding quarter. For the half year ended September 30th, the company declared net sales of Rs 2,653 crores at a growth of 14.1 percent over the corresponding period last year. EBIDTA was Rs 195 crores down by 11.9 percent over the same quarter of the previous year. For the half year EBITDA was at Rs. 415 crores down by 3.1 percent over the corresponding period last year.
Alembic Pharmaceuticals recover after Q2 results, Sensex, Nifty sustain mild gains##Alembic Pharmaceuticals recover after Q2 results, Sensex, Nifty sustain mild gains
Shares of Alembic Pharmaceuticals traded 1.45 percent lower at Rs 599.15 on the NSE at 1.51 pm. The stock recovered from the day's low of Rs 595 after the pharma company reported a 42.8 percent rise in revenues to Rs 1,127 crore. The company had reported Rs 789.3 crore in the same quarter last year. Profit rose to Rs 200.1 this quarter. Meanwhile, benchmark indexes traded higher with the Sensex rising by 88 points, or 0.26 percent, to 34,404. The Nifty added 20 points, or 0.19 percent, to trade at 10,323.
Bharti Airtel down as company may lose broadband market share##Bharti Airtel down as company may lose broadband market share
Shares of Bharti Airtel declined 4 percent on concerns that the company may lose market share in home broadband and cable segment after Reliance Industries bought stake in DEN Networks and Hathway Cable and Datacom. Shares of the company traded 1.2 percent lower at Rs 283.75 at 12.53 pm on the NSE.
Infibeam Avenues dips 13.5%, Nifty IT down 0.26%##Infibeam Avenues dips 13.5%, Nifty IT down 0.26%
Shares of Infibeam Avenues touched an intra-day low of Rs 45.75, plunging 13.52 percent in trade on Monday. The stock has fallen more than 66 percent year-to-date. Shares traded at Rs 46.55, down 12.3 percent on the NSE at 12.40 pm. The smallcap IT stock has seen massive downtrend in last few weeks, declining from its 52-week high of Rs 242.80, hit on September 18 last month to a 52-week low of Rs 39.1 on October 1, 2018. Nifty IT traded lower by 0.26 percent at 14,527 at 12.33 pm. Only 4 stocks advanced against 6 declines on the sectoral index.