Gains in banking, automobile, metal and pharmaceutical sectors pushed the markets higher
Domestic stock markets jumped on Monday amid buying across most sectors and gains in Asian peers. The S&P BSE Sensex index climbed as much as 386.61 points to touch 38,513.69 during the session, and the broader NSE Nifty benchmark moved to as high as 11,420.45, up 115.4 points from the previous close. Gains in banking, automobile, metal and pharmaceutical sectors pushed the markets higher, however losses in IT shares capped the upside amid a volatile session. The NSE's India Vix index - which gauges the market's expectation of volatility in the near term - rose as much as 4.80 per cent. The stock markets however gave up most of those gains by the end of the session.
Here are latest updates on the movement in domestic stock markets (Sensex and Nifty) today:
Sensex 87 Points Higher, Nifty Settles At 11,341
The S&P BSE Sensex ended 87.39 points - or 0.23 per cent - higher at 38,214.47 and the broader NSE Nifty benchmark settled at 11,341.15, up 36.10 points - or 0.32 per cent - from its previous close. Both benchmark indices closed higher for a second straight day.
Advance-Decline Ratio Neutral
Market breadth was neutral with an advance-decline ratio of about 1:1 in late afternoon deals. On the Bombay Stock Exchange (BSE), 1,221 shares moved higher as against 1,268 that moved lower, while 226 remained unchanged. On the National Stock Exchange (NSE), 889 stocks advanced, 883 declined while 373 were flat.
Wholesale Inflation Subdued, RBI Rate Cut On Cards: Emkay
Wholesale inflation numbers were lower than market expectation of 0.99 per cent mainly due to the sharp plunge in fuel and power inflation, said Rahul Gupta, currency research head, Emkay Global Financial Services.
"Onion prices jumped by 122.40 per cent in September from 33.01 per cent in August. The RBI prefers looking at CPI (Consumer Price Index) print, however, subdued wholesale inflation still keeps RBI rate cut on cards," he added.
Realty, Telecom, Metal Sectors Soar; IT Bucks Trend
In percentage terms, realty, telecom and metal sectors led the gains in the markets. On the other hand, IT sector shares declined with the Nifty IT index falling as much as 1.14 per cent in intraday trade.
Sectoral Index Watch
|Nifty PSU Bank||+1.38%|
|Nifty Private Bank||+1.16%|
|Nifty Financial Service||+0.86%|
|Nifty Fast-Moving Consumer Goods||+0.49%|
|S&P BSE REALTY||+2.9%|
|S&P BSE Telecom||+2.11%|
|S&P BSE METAL||+1.97%|
|S&P BSE OIL & GAS||+1.69%|
|S&P BSE Basic Materials||+1.4%|
|S&P BSE Healthcare||+1.18%|
|S&P BSE Energy||+1.12%|
|S&P BSE AUTO||+1.1%|
|S&P BSE BANKEX||+1.07%|
|S&P BSE Finance||+0.81%|
|S&P BSE Industrials||+0.63%|
|S&P BSE Consumer Discretionary Goods & Services||+0.59%|
|S&P BSE Fast Moving Consumer Goods||+0.44%|
|S&P BSE Utilities||+0.42%|
|S&P BSE CONSUMER DURABLES||+0.17%|
|S&P BSE POWER||+0.16%|
|S&P BSE CAPITAL GOODS||+0.02%|
|S&P BSE TECK||-0.46%|
|S&P BSE Information Technology||-0.82%|Dmart Shares Fall Over 2% After Earnings Announcement
DMart shares traded in the positive zone only briefly after the company reported a 47.54 per cent jump in its net profit in the quarter ended September 30, before declining as much as 3.22 per cent from the day's highest level. DMart shares fell as much as 2.15 per cent from their previous close to Rs 1,803.55 apiece on the BSE.
At 12:45 pm, DMart shared traded 0.56 per cent lower at Rs 1,833.00 apiece on the BSE, underperforming the benchmark Sensex index which was up 0.48 per cent.
Tata Motors, ONGC, Yes Bank Top Gainers On Sensex, Nifty
At 12:35 pm, the Sensex traded 193.91 points - or 0.51 per cent - higher at 38,320.99 while the Nifty was at 11,368.20, up 63.15 points - or 0.56 per cent - from its previous close. Tata Motors, ONGC and Yes Bank were the top percentage gainers on both benchmark indices at the time.
Wholesale Inflation (WPI) At 0.33% In September
Wholesale inflation eased to 0.33 per cent in September, from 1.08 per cent the previous month and 5.22 per cent in September 2018, official data showed. The Wholesale Price Index (WPI) gauges the rate of increase in wholesale prices.
The government will release data on consumer inflation at 5:30 pm.
IRCTC Makes Bumper Market Debut
Shares of Indian Railway Catering and Tourism Corporation (IRCTC) made a bumper stock market debut on Monday. IRCTC shares opened for trading at Rs 644 on the BSE, marking a gain of 116.48 per cent over their issue price of Rs 320. (Read more on IRCTC shares here
Infosys Shares Fall Over 4% After Q2 Earnings
Shares in Infosys, the country's second largest IT company, fell as much as 4.25 per cent to Rs 781.00 apiece on the BSE.
At 10:21 am, Infosys shares traded 2.97 per cent lower at Rs 791.45 on the bourse, underperfomring the benchmark Sensex index which was up 0.25 per cent at 38,221.93.
Sensex Falls Over 200 Points From Day’s High
The stock markets gave up early gains as a selloff in information technology shares deepened. The Sensex fell as much as 220.96 points from its intraday high of 38,287.09 to hit 38,066.13 on the downside. The Nifty moved in a range of 61.95 points, declining to as low as 11,290.05 after hitting 11,352.00 at the strongest level in morning deals.
Sensex Rises Over 100 Points, Nifty Firm Above 11,300
At 9:19 am, the S&P BSE Sensex index traded 142.80 points - or 0.37 per cent - higher at 38,269.88 while the broader NSE Nifty benchmark was at 11,336.45, up 31.40 points - or 0.28 per cent - from its previous close. Top percentage gainers on the 50-scrip index at the time were Tata Motors, Vedanta, IndusInd Bank, Sun Pharma and SBI, trading between 1.32 per cent and 3.05 per cent higher.
HDFC Bank, ITC, Axis Bank and SBI contributed the most to the gains in Sensex.
Sensex Opens 81 Points Higher, Nifty Starts Day At 11,336
The S&P BSE Sensex index opened 81.16 points - or 0.21 per cent - higher at 38,208.24. The broader NSE Nifty benchmark started the session at 11,335.90, up 30.85 points - or 0.27 per cent - from its previous close.
Last Friday, the S&P BSE Sensex index had risen 246.68 points - or 0.65 per cent - to end at 38,127.08 and the broader NSE Nifty benchmark settled at 11,305.05, up 70.50 points - or 0.63 per cent - from its previous close.
DMart Shares In Focus Today After Q2 Profit Jumps 48%
DMart or Avenue Supermarts shares will be in focus today, after the company reported a 47.54 per cent increase in its net profit to Rs. 322.66 crore in the quarter ended September 30.
Avenue Supermarts - which owns and operates supermarket chain DMart - said its revenue from operations stood at Rs. 5,990.78 crore in July-September, as against Rs. 4,892.81 crore in the corresponding period a year ago.
Birlasoft Signs $240-Million Deal
Birlasoft, part of The CK Birla Group, signed a have signed a multi‐year agreement with Invacare Corporation to provide IT‐as‐a‐service solutions to the US-based company, which manufactures wheelchairs, bariatric equipment, disability scooters, respiratory products
and other homecare products.
Birlasoft will accelerate Invacare's business transformation by modernizing systems, taking responsibility for the provision of service desk, applications, server, network and telephony support, it said in a regulatory filing. The company said it would will build a new analytics platform and move the Invacare data center to the cloud.
Sensex, Nifty Rise In Pre-Open Market
The S&P BSE Sensex rose as much as 242.88 points - or 0.64 per cent - to touch 38369.96 in the pre-opening session. At 9:03 am, the Sensex was up 15.17 points - or 0.04 per cent - at 38,142.25 while the broader NSE Nifty benchmark was up 69.55 points - or 0.62 per cent - at 11,374.60.
Official Inflation Data Due Today
The government will release data on wholesale inflation (Wholesale Price Index) around noon and retail inflation (Consumer Price Index) at 5:30 pm today. The Reserve Bank of India (RBI) tracks consumer inflation primarily for formulating its monetary policy.
The central bank has reduced the repo rate by 135 basis points - or 1.35 percentage point - so far this year.
HUL To Report Earnings Today; Wipro, Reliance Industries Results This Week
Fast-moving consumer goods major Hindustan Unilever will report its quarterly earnings on Monday. Other large caps due to release their earnings this week include Wipro, Reliance Industries, TVS Motor Company and Ambuja Cements.
Last Thursday, Tata Consultancy Services (TCS) reported a net profit of Rs 8,042 crore for the July-September period, missing analysts' estimates.
Infosys Shares To Be In Focus Today
Infosys shares will trade for the first time today after the country's second largest IT services exporter reported its earnings for the second quarter of the current financial year. Last Friday after market hours, Infosys reported a net profit of Rs 4,037 crore for the quarter ended September 30, matching analysts' estimates, and raised the low end of its revenue forecast for the year.
Asian Shares Gain On US-China Trade Optimism
Asian shares pushed higher amid optimism about the US-China trade talks. MSCI's broadest index of Asia Pacific shares outside Japan was last seen up 1.20 per cent. Last Friday, Wall Street clocked sharp gains with the Dow Jones Industrial Average ending 1.47 per cent higher and the S&P 500 gaining 1.09 per cent.
On Friday, US President Donald Trump announced a partial trade deal with China that could be signed within weeks. The deal covers agricultural purchases, currency and some aspects of intellectual property protections, and it averted a tariff hike scheduled for next week, though there was no mention of tariffs set to rise in December.
SGX Nifty Futures Indicate Lower Opening For Domestic Markets
Domestic share markets are likely to open lower today as indicated by the Singapore Exchange (SGX) Nifty futures. At 8:30 am, the SGX Nifty futures - an early indicator of the National Stock Exchange (NSE) Nifty index in India - traded 5.50 points - or 0.05 per cent - lower at 11,303.50.