At the close of market hours, the Sensex closed up 40.99 points or 0.12% at 34991.91, while the Nifty ended higher by 6.00 points or 0.06% at 10530.00.
Nov 06, 03:36 PM (IST)
Market at Close It’s a flat end to the session on Tuesday, with the Nifty holding 10,500-mark.
Among sectors, automobiles, banks, consumption and PSU banks took a big hit, while energy, IT and infrastructure names gained the most. In the broader market, the Nifty Midcap index ended down over half a percent.
At the close of market hours, the Sensex closed up 40.99 points or 0.12% at 34991.91, while the Nifty ended higher by 6.00 points or 0.06% at 10530.00. The market breadth was negative as 1,264 shares advanced, against a decline of 1,278 shares, while 153 shares were unchanged.
Yes Bank, TCS, and Zee Entertainment were the top gainers, while Vedanta, SBI, and Cipla lost the most.
Nov 06, 03:24 PM (IST)
Jet Airways clarification: The company clarified on news Jet Airways and Tata Group initiating second round of talks that the news is speculative in nature and unable to comment on the reasons for the increase in share price on the stock exchanges.
Nov 06, 03:08 PM (IST)
Dr Lal PathLabs Q2 result: Company’s consolidated net profit rose 12.8 percent at Rs 57.4 crore versus Rs 50.9 crore, revenue was up 14.2 percent at Rs 317.5 crore against Rs 278.1 crore, YoY.
Nov 06, 02:51 PM (IST)
RESULTS | Voltas reported a net profit of Rs 107 crore for the September quarter, a jump of 12 percent year on year to the profit of Rs 95.36 crore that was reported a year ago.
The manufacturer of air conditioners posted revenue of Rs 1,421.36 crore for the quarter under review. This is a growth of 37 percent from the revenue reported during the September quarter of FY18.
At an operating level, the earnings before interest, taxes, depreciation and amortization (EBITDA) was reported at Rs 108.54 crore against Rs 87 crore that the company reported last year. This is a rise of 25 percent.
Nov 06, 02:51 PM (IST)
Result reaction: Shares of Cupid declined 6 percent intraday Tuesday on weak set of numbers declared by the company for quarter ended September 2018.
The company’s Q2FY19 net profit was down 27 percent at Rs 4.3 crore against Rs 6 crore. Revenue was down 8 percent at Rs 20.3 crore versus Rs 22 crore.
Nov 06, 01:59 PM (IST)
Market Update A sharp selloff is seen among banking stocks, with the Nifty Bank shedding over half a percent. Midcaps, too, have seen some selling, along with consumption names.
The Sensex is up 26.52 points or 0.08% at 34977.44, while the Nifty is down 5.80 points or 0.06% at 10518.20. The market breadth is narrow as 1,214 shares advanced, against a decline of 1,135 shares, while 135 shares were unchanged.
Tata Group stocks, Tata Motors and TCS, are the top gainers, while Vedanta, SBI, and Cipla have lost the most.
Nov 06, 01:33 PM (IST)
MARKET OUTLOOK | On the weekly chart, Nifty has taken good support at 10,000. This level is a tad shy of its previous intermediate low of 9,951 which was made on March 23, 2018. It has now become a very strong base for the market and should we puncture it, we may see a fall to the levels of 9,000.
The level of 10,750 would prove a stiff a resistance and if we can stay above these levels, this market could go back to 11,350 and thereafter to its high of 11,760. Either way, we have large moves coming for this market.
Nov 06, 12:51 PM (IST)
Credit Suisse on Bosch: Foreign research house maintained outperform rating but cut target to Rs 22,500 from Rs 23,500 per share.
The company is delivering on topline now but forex hurt the margins. The Q2 results were a tad below expectations. It cut EPS estimate by 4-6 percent as we build in lower gross margins.
Nov 06, 12:22 PM (IST)
Results | Automotive Axles has reported a surge of 57 percent year on year in its net profit at Rs 32 crore. The revenue is reported at 43 percent at Rs 498.4 crore.
Nov 06, 12:11 PM (IST)
Deutsche Bank on Indraprastha Gas: Research house maintained buy and cut target to Rs 315 from Rs 320 per share.
It forecast a 17% CAGR in FY18-20 EPS estimates. The company well placed to benefit from expansion in new areas, while price hike should improve margin in Q3FY19.
Nov 06, 11:55 AM (IST)
Market Update: Benchmark indices are holding on its gain with Sensex is trading above 35,000, while Nifty is trading around 10,550 level.
The Sensex is up 130.77 points at 35081.69, while the Nifty up 30.30 points at 10554.30. About 1238 shares have advanced, 906 shares declined, and 130 shares are unchanged.
Nov 06, 11:20 AM (IST)
Nomura on Exide Industries: Research house maintained neutral rating on stock and cut target to Rs 272 from Rs 276 per share. Healthy revenue growth but margins fail to keep up. Valuation reflects lower lead price benefit.
Nov 06, 11:09 AM (IST)
Rupee Updates: Indian rupee is trading higher by 14 paise at 72.98 per dollar against previous close 73.12.
Nov 06, 10:55 AM (IST)
Suven Life secures product patents in Israel & Japan
Nov 06, 10:08 AM (IST)
Tata Motors up 4% Shares of Tata Motors have surged 4 percent on the back of strong UK JLR sales for October.
Nov 06, 09:49 AM (IST)
Market Update Equity benchmarks have extended their gains, with the Sensex gaining over 200 points. The Nifty is nearing 10,600.
The Sensex is up 225.70 points or 0.65% at 35176.62, while the Nifty is higher by 69.40 points or 0.66% at 10593.40. The market breadth is positive as 1,021 shares advanced, against a decline of 410 shares, while 52 shares were unchanged.
Tata Motors, Sun Pharma, and GAIL are the top gainers, while Vedanta, SBI, and Cipla have lost the most.
Nov 06, 09:25 AM (IST)
Brokerages such as HSBC, Credit Suisse and Citi have downgraded Cipla based on the company’s guidance ahead.
Brokerage: Macquarie | Rating: Outperform | Target: Cut to Rs 658
The brokerage highlighted that the company has guided for a challenging second half of this fiscal. The challenges are a combination of sanctions and uncertainty in emerging markets. Further, it said that the progress in the direct-to-market (dtm) business is promising.
Brokerage: HSBC | Rating: Downgrade to Hold | Target: Cut to Rs 610 from Rs 730
The global research firm said that there were muted q2 results on impact of supply issues across markets. There are multiple challenges in the near term and execution will be critical. It has reduced sales estimates by 5-6% for FY19-21 on lower tender sales. It also has cut EPS estimates by 21.6%/19.9%/14.6% For FY19/20/21.
Brokerage: Credit Suisse | Rating: Downgrade to neutral | Target: Cut to Rs 570 from Rs 637
Credit Suisse said that the results were a negative surprise from capacity balancing. The medium term story remains strong, but there are weak near term earnings. However, it still likes the company over the medium term.
Brokerage: Citi | Rating: Downgrade to Equalweight | Target: Cut to Rs 548 from Rs 716
The brokerage house said that Q2 was a miss and business pressure is likely to continue. Further, FY20 is likely to be a return of ‘business as usual’.
Nov 06, 09:20 AM (IST)
Market opens It’s a green tick on the market on Tuesday morning, with the Sensex rising over 100 points, while the Nifty is above 10,550-mark.
At 09:15 hrs IST, the Sensex is up 118.44 points or 0.34% at 35069.36, while the Nifty is up 37.70 points or 0.36% at 10561.70. The market breadth is positive as 370 shares advanced, against a decline of 113 shares, while 15 shares are unchanged.
Among sectors, automobiles, energy, consumption and metals are trading strong, while there is some subdued movement in the pharmaceutical space. In the broader market, the Nifty Midcap index is up 0.40 percent.
Shares of State Bank of India are higher by a percent, while Cipla is down 4 percent after the company posted poor results for the quarter.
Nov 06, 09:04 AM (IST)
Market at pre-open Equity benchmarks have begun higher in the pre-opening rates, with the Nifty trading above 10,600.
At 09:00 hrs IST, the Sensex is up 154.89 points or 0.44% at 35105.81, while the Nifty is up 81.50 points or 0.77% at 10605.50.
Shares of SBI are up 3 percent in pre-opening, while Tata Motors is higher by 5 percent.
The Indian rupee has opened stronger by 17 paise.
Nov 06, 8:53 AM (IST)
Gold Update: Gold prices were steady early Tuesday ahead of US midterm elections that may fuel interest in the metal as a hedge against risk if the result sparks volatility in wider financial markets, reported Reuters.
Nov 06, 8:43 AM (IST)
Crude Update: Oil prices dipped on Tuesday as concerns that an economic slowdown may curb fuel demand growth overshadowed the reintroduction of sanctions on Iran, reported Reuters.
Nov 06, 8:28 AM (IST)
SGX Nifty: Trends on SGX Nifty indicate a positive opening for the broader index in India, a gain of 30 points or 0.28 percent. Nifty futures were trading around 10,590-level on the Singaporean Exchange.
Nov 06, 8:04 AM (IST)
Asian markets trade higher: Asian shares ticked up in early Tuesday trade, supported by Wall Street gains although sentiment was tempered ahead of the US midterm elections, the first major electoral test of President Donald Trump’s big tax cuts and hostile trade policies.
Nov 06, 7:42 AM (IST)
Wall Street ends higher: The S&P 500 rose on Monday with boosts from financial, energy and defensive sectors as investors showed some caution on the eve of US congressional elections.
Nov 06, 7:34 AM (IST)
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Source:- Moneycontrol News