LIVE market updates: The Sensex rose as much as 465.01 points to 38,345.41 during the session
Domestic stock markets rose on Friday amid gains in global peers. The S&P BSE Sensex index rose as much as 465.01 points to touch 38,345.41 during the session, and the broader NSE Nifty benchmark climbed to as high as 11,362.90, up 128.35 points from its previous close. The markets reversed direction as the banking and financial services sectors erased early gains in the first half of the session, however buying in information technology and metal stocks in afternoon deals pushed the markets to the positive zone. Infosys shares rose as much as 5.17 per cent during the session, before ending with a gain of 4.19 per cent at Rs 815.70 apiece on the BSE, ahead of the release of quarterly earnings by the IT major. Analysts awaited official data on industrial production for cues.
Here are highlights of the movement in domestic share markets (Sensex and Nifty) today:
IT, Metal Sectors Lead Gains
Nine out of the 11 sectoral indices on the National Stock Exchange (NSE) closed higher, with the metal and information technology gauges leading in percentage terms.
|Nifty Fast-Moving Consumer Goods||+0.99%|
|Nifty PSU Bank||+0.67%|
|Nifty Financial Service||+0.29%|
|Nifty Private Bank||-0.03%|
|Nifty Media||-0.34%|Cipla, Infosys, Vedanta Top Gainers
Top Nifty Gainers/Losers
|Mahindra & Mahindra||-1.11%|
Top Sensex Gainers/Losers
|Mahindra & Mahindra||-1.30%|
Sensex Ends 247 Points Higher, Nifty Settles At 11,301
The Sensex ended 246.68 points - or 0.65 per cent - higher at 38,127.08, and the Nifty settled at 11,301.25, up 66.70 points - or 0.59 per cent - from the previous close. Gains in metal, information technology and consumer goods stocks supported the markets, however losses in energy shares capped the upside.
Rakesh Jhunjhunwala Reduces Shareholding In Titan Company
Ace investor Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala have collectively reduced their shareholding in Titan Company as of quarter ended September 2019.
Mr Jhunjhunwala and his wife collectively held 6.51 per cent stake in the jewellery retailer down from 7.05 per cent at the end of quarter ended June 2019, according to the shareholding pattern available on the BSE.
Shares of Titan Company were trading 0.87 per cent lower at Rs 1,224.30, underperforming the Sensex which was up 0.22 per cent.
Indiabulls Ventures Surges On Board's Approval For Share Buyback
Shares of financial services company - Indiabulls Ventures - rose as much as 8.38 per cent to Rs 107.95 after its board approved share buyback proposal of Rs 1,000 crore.
Indiabulls Ventures will buy back shares 6.66 crore shares representing 12.61 per cent pf total paid-up equity at Rs 150 per share.
Indiabulls Real Estate Surges 5% After Board Approves Share Buyback Proposal
Shares of the Gurugram-based real estate company - Indiabulls Real Estate - surged 5 per cent to Rs 43.40 after its board of directors approved proposal to buyback shares worth Rs 500 crore.
The board of directors of Indiabulls Real Estate approved buyback of 5 crore shares of face value of Rs 2 each at Rs 100 per equity share.
Nifty Bank Index Slumps Over 850 Points From Day's High
Gauge of banking shares on the National Stock Exchange - Nifty Bank index - fell as much as 867 points from day's high to hit an intraday low of 27,736.80.
Earlier in the day, Nifty Bank index surged as much as 591 points to 28,604.05.
Top losers in the Nifty Bank index:
- RBL Bank down 9.32%
- Yes Bank down 7.08%
- IndusInd Bank down 2.12%
- Punjab National Bank down 0.80%
- Kotak Mahindra Bank down 0.26%
Passenger Vehicle Sales Decline For Eleventh Straight Month: Industry Body SIAM
Passenger vehicle sales slumped 23.7 per cent in September, marking the eleventh straight month of declines, amid one of the worst slowdowns seen in India's auto industry, data released by industry body SIAM or Society of Indian Automobile Manufacturers showed.
Passenger vehicle sales dropped to 2,23,317 units in September, the data showed, while passenger car sales dived 33.4 per cent to 1,31,281 units.
Sensex, Nifty Off Day's Highs
The Sensex plunged as much as 607.56 points from the day's highest level to hit 37,737.85 on the downside dragged by losses in TCS, Reliance Industries and IndusInd Bank shares. The broader NSE Nifty benchmark moved in a range of 173.5 points, declining to as low as 11,189.40 at the session's weakest level.
At 11:08 am, the markets had erased most of intraday gains, with the Sensex trading 69.28 points - or 0.18 per cent - higher at 37,949.68 and the Nifty at 11,239.70, up 5.15 points from its previous close.
Rupee Rises To 70.80 Against Dollar
The rupee gained by as much as 26 paise to touch 70.80 against the US dollar in morning deals. It was last seen trading at 70.97 against the greenback, up 9 paise - or 0.13 per cent - compared with its previous close of 71.06.
Optimism on US-China trade talks and gains in the domestic equity markets supported the rupee, according to analysts.
TCS Shares Fall Nearly 4% After September Quarter Earnings
TCS shares fell as much as 3.96 per cent to Rs 1,925.00 apiece on the National Stock Exchange (NSE), a day after the IT major reported its earnings for the quarter ended September 30
. On the Bombay Stock Exchange (BSE), TCS shares hit an intraday low of Rs 1,929.00 apiece as against their previous close of Rs 2,004.40, marking a decline of 3.76 per cent.
At 10:21 am, TCS shares traded 2.31 per cent lower at Rs 1,958.00 apiece on the BSE, underperforming the benchmark Sensex index which was up 1.07 per cent.
Sensex, Nifty At Day's High
The S&P BSE Sensex index climbed as much as 465.01 points - or 1.23 per cent - to touch 38,345.41 at the day's strongest level. The broader NSE Nifty benchmark hit an intraday high of 11,362.90, up as much as 128.35 points - or 1.14 per cent - from its previous close.
Vedanta, Infosys, Tata Steel Top Gainers
Thirty five stocks on the 50-scrip index rose with Vedanta, Hindalco, Infosys, Tata Steel and Coal India among top gainers.
Top Nifty Gainers/Losers
Top Sensex Gainers/Losers
|TCS||-2.71%|Market Breadth Favours Gains With Advance-Decline Ratio Of 2:1
Market breadth was positive with an advance-decline ratio of about 2:1. On the Bombay Stock Exchange (BSE), 992 stocks rose, 524 fell while 110 remained unchanged at 10 am. On the National Stock Exchange (NSE), 1,072 stocks advanced, 500 declined while 528 were flat at the time.
Market breadth is an indicator in which the number of stocks trading higher is compared with that of those moving lower.
Banking, Financial Services, Metal Stocks Lead Gains In Markets
Nine out of the 11 sectoral indices on the National Stock Exchange (NSE) moved higher in the first few minutes of trade, with metal, banking and financial services stocks leading gains.
|Nifty PSU Bank||+1.96%|
|Nifty Private Bank||+1.90%|
|Nifty Financial Service||+1.76%|
|Nifty Fast-Moving Consumer Goods||+0.88%|
Sensex Up Over 200 Points, Nifty Near 11,300
At 9:20 am, the Sensex traded 221.37 points - or 0.58 per cent - higher at 38,101.77 while the Nifty was up 57.85 points - or 0.51 per cent - at 11,292.40. Top percentage gainers on the 50-scrip index at the time were Tata Steel, Vedanta, Coal India, Kotak Bank and JSW Steel, trading between 1.89 per cent and 2.89 per cent higher.
Sensex Opens 114 Points Higher At 37,994, Nifty Starts Day At 11,258
The S&P BSE Sensex index opened 114.08 points higher at 37,994.48 and the broader NSE Nifty benchmark started the session at 11,257.70, up 23.15 points from its previous close. In the opening trade, top gainers on the 50-scrip index were Tata Steel, Tata Motors, Vedanta, JSWL Steel and SBI, trading between 1.22 per cent and 2.24 per cent higher.
On the other hand, top laggards were TCS, Tech Mahindra, HCL Tech, Bharti Airtel and Bharti Infratel, struggling with losses of between 0.72 per cent and 3.32 per cent.
Sensex Up Over 300 Points In Pre-Open Market
The S&P BSE Sensex index climbed as much as 302.59 points - or 0.80 per cent - to touch 38,182.99 on the upside in the pre-opening session. At 9:05, the Sensex was up 84.60 points - or 0.22 per cent - at 37,965.00 while the broader NSE Nifty index was up 15.20 points - or 0.14 per cent - at 11,249.75.
Infosys Shares In Focus Today Infosys
- the country's second largest IT services exporter - will release its earnings report for the quarter ended September 30 at around 3:45 p.m. The company's top management will hold a press conference at 4:15 pm, which will be followed by a 60-minute conference call at 5:30 pm in which the senior management will discuss the company's performance and answer questions from participants.
Moody's Lowers India Growth Forecast For 2019-20
Credit ratings major Moody's Investors Service on Thursday cut its India growth forecast for the year ending March 2020 to 5.8 per cent from 6.2 per cent. Moody's said a weaker growth outlook will dampen the prospects for fiscal consolidation.
It had in August lowered the country's growth forecast to 6.2 per cent from 6.8 per cent.
TCS Shares In Focus Today
Shares in Tata Consultancy Services (TCS)
will be on focus today, a day after the country's largest IT services company reported a net profit of Rs 8,042 crore for the quarter ended September 30, led by growth in the cloud services, Internet of Things (loT) and cybersecurity services segments.
In a regulatory filing after market hours, TCS said its revenue came in at Rs. 38,977 crore in the second quarter of current financial year, as against Rs. 38,172 crore in the quarter ended June 30. (Read more on TCS earnings
Asian Shares Rise On US-China Trade Optimism
Equities in other Asian markets rose, with MSCI's broadest index of Asia-Pacific shares outside Japan climbing 0.5 per cent and Japan's Nikkei stock index gaining 0.9 per cent. The Asian markets and Wall Street futures moved higher after US President Donald Trump said he would meet with China's top trade negotiator, fuelling optimism on a trade deal between the world's two largest economies.
SGX Nifty Futures Indicate Positive Start For Domestic Markets
Domestic stock markets are likely to start Friday's session on a positive note. At 8:32 am, the Singapore Exchange (SGX) Nifty futures were up 34.50 points - or 0.31 per cent - at 11,295.50. The SGX Nifty futures are an early indicator of the National Stock Exchange (NSE) Nifty index in India.