Sensex and Nifty likely to be firm today. (Photo: Mint)
Sensex and Nifty likely to be firm today. (Photo: Mint)

Market Highlights: Nifty ends higher for the fifth straight session, Sensex up over 100 pts

  • BSE Midcap and Smallcap gauges rose 1.04% and 1.43% respectively
  • Information Technology was the worst performer among sectors, falling 1.03%

Indian stocks markets on Wednesday closed higher amid global cues and investors eyeing industrial and consumer price data and other macro datas.

Sensex gained over 100 points while the 50-share index settled over 11,000-level.

Sensex closed at 37,270.82 rising 125.37 points, or 0.34%, while the broader Nifty gained 32.65 points, or 0.30%, at 11,035.70.

Yes Bank, Tata Motors, Maruti Suzuki, Tata Steel and Vedanta were the most contributing stocks on Sensex pack, surging as much as 13.47%.

The broader market also remained optimistic with BSE Midcap and Smallcap gauges rising 1.04% and 1.43% respectively.

"Index opened a day at 11029 and after showing choppy session index closed day at 11036 with gains of 33 points and formed small doji candle pattern on daily chart. Immediate hurdle is coming near 11060-11130 and support for index is coming near 10970-10920 zone, index will show strength only if managed to sustain above 11060 zone otherwise we may see some profit booking from current levels. Nifty bank closed a day at 27776 with gains of 272 points and formed bullish candle on daily chart, now support for index is coming near 27550-27350 zone and resistance is coming near 27930-28200 zone," said Rohit Singre, Senior Technical Analyst, LKP Securities.

Among sectors, Nifty IT (-1.03%) was the worst performer as rupee gained little against the US dollar. Nifty FMCG and Media were the other two losing sectors. However, eight out 11 sectors ended with gains. Nifty Realty (4.14%), Auto (3.60%), PSU Bank (3.11%), Metal (2.31%) and Private Bank (1.01%) were the top gainers.

Globally, in the early trade, MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.10% while Japan's Nikkei rose 0.32%. On Wall Street, the S&P 500 ended little changed as a rally in energy and industrial shares countered a drop in the technology and real-estate sectors with investors favouring value over growth. Asian stock markets held firm and bond yields rose on Wednesday as hopes of diminishing US-China tensions and reduced risk of no-deal Brexit prompted investors to take profit in risk-off trade ahead of key central bank policy meetings.

11 Sep 2019, 03:58:54 PM IST

Market at close

Sensex closed at 37,270.82 rising 125.37 points, or 0.34%, while the broader Nifty gained 32.65 points, or 0.30%, at 11,035.70.

11 Sep 2019, 03:31:16 PM IST

12 investors interested in buying Canara Bank's stake in Can Fin Homes, says CEO

Canara Bank has received 12 expressions of interest from "serious investors" for its stake in Can Fin Homes, said RA Sankara Narayanan, chief executive of the public sector lender. The bank expects to get 1,000 crore for its 30% stake in the housing finance arm, Narayanan said, speaking to reporters on Wednesday.

"Many foreign as well domestic entities have approached. Twelve serious investors have showed interest. There are many entities including other NBFCs who have shown interest," said Narayanan, adding that the bank will sell its entire stake of 30% in Can Fin Homes.

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11 Sep 2019, 03:19:11 PM IST

Yes Bank up nearly 14%

Shares of Yes Bank extends gains with the stock rising 13.39% at 71.55. On NSE, the stocks is up 13.47%.

11 Sep 2019, 02:39:32 PM IST

Tata Motors at day's high

Tata Motors is at day's high rising 9.47% at 133.45 on BSE. On NSE, the stock is up 9.31%.

11 Sep 2019, 02:13:19 PM IST

Yearlong debt crisis hits plans for bigger India bond market

The government’s plans to expand its corporate bond market are running up against a yearlong credit crisis, in another obstacle for Prime Minister Narendra Modi’s efforts to jumpstart a sputtering economy.

Sales of rupee bonds rated below AAA have halved so far this year to 69,900 crore ($9.7 billion) as a wave of debt defaults and a funding crunch in the shadow banking sector make investors reluctant to buy riskier notes. Banks, who are major players in the primary market, are now mostly interested in providing backing for sales of quasi-sovereign and top-rated issuers, Bloomberg-compiled data show.

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11 Sep 2019, 02:13:19 PM IST

Auto sector gains

Nifty Auto is up 3.13% after finance minister said the government will soon respond to the demands of the automobile sector, which is facing the worst slump in more than two decades.

Tata Motors, Eicher Motors, TVS Motors, Motherson Sumi and Maruti Suzuki are the best performing stocks on the sector.

11 Sep 2019, 01:30:28 PM IST

JSPL stocks up nearly 9%

Shares of JSPL is up 8.97% to 103.9 on BSE, while on NSE the stock is trading at 104 up 8.90%.

11 Sep 2019, 01:04:53 PM IST

Cyient signs MoU with QinetiQ

Cyient today announced that it had signed a Memorandum of Understanding (MoU) with UK-based defense technology firm, QinetiQ's Target Systems (QTS), to offer avionics products for its unmanned target systems. "Cyient will provide advanced manufacturing and electronics engineering solutions for QTS' range of unmanned air, land, and sea target systems from its facilities in India," the company said in a regulatory filing.

11 Sep 2019, 12:45:44 PM IST

Tata Motors up over 7%

Tata Motors is up 7.55% at 131.10 on BSE. Felix Brautigam, chief commercial officer of Jaguar Land Rover, said the company has seen a second month of consecutive growth in China even as global market remains challenging. Tata Motors' wholly-owned UK-based unit Jaguar Land Rover (JLR), post market hours on Monday, said its retail sales in August fell 6.7% year-on-year to 34,176 vehicles.

On NSE, the stock gained 7.47%.

11 Sep 2019, 12:45:44 PM IST

Dr Reddy’s new US drug pipeline is keeping investors’ pulse ticking

Shares of Dr Reddy’s Laboratories Ltd have been convalescing. The stock rose 8.5% this past week, contrasting with the Nifty 500 index’s 1.9% gain, as investor hopes of a further US recovery heightened. Note that in end-August, the shares had fallen about 15% from their highs in May. The recent improvement in sentiment, therefore, is welcome.

The main reason is the swelling pipeline of drug launches in the US. In FY19, Dr Reddy’s launched 24 new drug applications in the US, up from 14 in FY18. The management has lined up around 30 new launches for FY20. Besides, relaunching some of its older drugs in the US is on the cards. This would provide the requisite fillip to its North American business.

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11 Sep 2019, 12:45:44 PM IST

Nifty Auto extends gain

Nifty Auto is up 2.77%. Finance minister Nirmala Sitharaman on Tuesday said the government will soon respond to the demands of the automobile sector, which is facing the worst slump in more than two decades.

Tata Motors, Motherson Sumi, TVS Motors, Maruti Suzuki and Bajaj-Auto are the best performing stocks, gaining as much as 8%.

11 Sep 2019, 12:45:44 PM IST

Gold prices today down ₹1,700 from highs

Gold and silver prices continue to slide in India from their last week's highs. On MCX, October gold futures prices were today down 0.26% to 38,154, extending their losses to 1,730 per 10 gram after hitting a new high of 39,885 last week. Silver prices also continued their tumble from recent highs. Silver futures on MCX today were off 0.23% to 47,686 per kg, down 3,800 per kg from recent highs of 51,489. Improved risk sentiment has pushed down global gold prices from over $1,550 an ounce to below $1,500, hurting domestic prices. Today gold was trading at $1,491 an ounce in global markets.

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11 Sep 2019, 12:45:44 PM IST

BSE Midcap outperforms Sensex

BSE Midcap is up 0.68%, outperforming Sensex.

11 Sep 2019, 11:12:53 AM IST

Yes Bank up over 9%

Shares of Yes Bank is up 9.19% at 68.90 on NSE amid promoters in talks to sell a part of holding to One97 Communications Ltd, the parent of Paytm and Paytm Payments Bank. However, on BSE, the stock is up 9.03%.

11 Sep 2019, 10:58:15 AM IST

Nifty Realty up over 2.5%

Nifty Realty is the best sector rising 2.89%. DLF, Godrej Properties, Mahindra Lifespace, Prestige Estates and Oberoi Realty are the most contributing stocks on the sectors, gaining 5.22%.

11 Sep 2019, 10:35:22 AM IST

Indiabulls Real Estate stock rises over 1%

Shares of Indiabulls Real Estate is up 1.09% at 65 on BSE. The company will divest direct or indirect stake in the existing joint venture companies with Blackstone.

On NSE, the scrip is 0.70%.

11 Sep 2019, 12:45:44 PM IST

IT index remains negative

Nifty IT is down 1.06% led by HCL Technologies, Wipro, NIIT Tech, Tech Mahindra and Infosys.

11 Sep 2019, 10:06:31 AM IST

Reliance Securities on auto sector

"Automobile industry really needs government support on various parameters at the moment. Any government stimulus would help auto makers to get rid of BS 4 vehicles in a situation of high inventory. We believe that government's serious focus on revival of auto industry would turn investors' sentiment positive towards the sector," said Mitul Shah, auto analyst, Reliance Securities.

11 Sep 2019, 09:57:37 AM IST

Top gainers on Sensex

Yes Bank, Tata Motors, Vedanta, Tata Steel and Bajaj Auto are the best performing stocks on Sensex, surging as much as 5.71%.

11 Sep 2019, 09:40:25 AM IST

Small stocks take big hit, tank up to 15.42% so far in FY20

Smallcap and midcap indices of the BSE have tumbled up to 15.42% so far this fiscal, taking bigger hit when compared to their blue-chip peers. An analysis of the performance of the three indices shows that the S&P BSE smallcap index has dropped 2,317.4 points or 15.42% so far this fiscal and midcap index has tanked 1,985 points or 12.82%.

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11 Sep 2019, 09:32:29 AM IST

L&T Oman bags contract for its Buildings a Factories business

"The Buildings and Factories business of L&T Oman has been awarded the main works contract of The Mandarin Oriental, Muscat by Eagle Hills, Muscat. The project involves the construction of the Mandarin Oriental Hotel Muscat and the residences at

the Mandarin Oriental, Muscat. L&T will oversee the overall construction within the site, which includes a 150-key hotel and 156 units of branded residences, as well as 1,622 square meters of retail areas, podium and basement. L&T will also undertake the associated external works, services, and hard and soft landscaping works," Larsen and Toubro said in a regulatory filing.

Share of L&T is 0.39% at 1,362.60 on BSE.

11 Sep 2019, 09:29:47 AM IST

Yes Bank gains 4.4%

Shares of Yes Bank is up 7.29% at 67.70 on NSE. The bank's shareholding structure may witness a major churn by the year-end as founder Rana Kapoor has initiated talks to sell a part of his holding to One97 Communications Ltd, the parent of Paytm and Paytm Payments Bank.

On BSE, the scrip is 3.96%.

11 Sep 2019, 09:26:04 AM IST

Rupee weakens tracking losses in Asian currencies

The Indian rupee weakened against the US dollar on Wednesday tracking losses in other Asian currencies. At 09:08 am, the domestic currency was trading at 71.79 dollar, down 0.12% from its previous close of 71.71. The currency opened at 71.87 a dollar, touching a high of 71.77 and a low of 71.87.

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11 Sep 2019, 09:18:53 AM IST

Market at open

Sensex rises 105.58 points, or 0.28%, during the opening bell while the 50-share index resumed at 11,025.95 up 22.90 points, or 0.21%.

11 Sep 2019, 09:26:04 AM IST

Pre-market sector check

Except for Nifty Information Technology, all the other 10 sectors compiled on NSE trades in green during the pre-opening session.

11 Sep 2019, 09:04:13 AM IST

Pre-opening session

Sensex is at 37,321.02 rising 175.57 points, or 0.47%, during the pre-opening session, while the broader Nifty is up 56.85 points, or 0.52%, at 11,003.05

11 Sep 2019, 09:00:31 AM IST

Is India’s equity market cheap enough for you to buy into?

Each time the stock market falls over a period of time, arguments on whether or not it is now cheap enough to buy into begin. While fund managers make these arguments in interviews and presentations, brokers and analysts send out reports. This confuses the retail investor who is afraid of the market and hesitant to take the equity leap. While we maintain that regular investments are about not timing the stock market, it is important to address this “cheap market" question as well.

Click here to read more

11 Sep 2019, 09:29:48 AM IST

Stocks in focus

Yes Bank: Shares of Yes Bank is likely to be in focus as the bank's shareholding structure may witness a major churn by the year-end as founder Rana Kapoor has initiated talks to sell a part of his holding to One97 Communications Ltd, the parent of Paytm and Paytm Payments Bank.

Essel Group: Subhash Chandra-led Essel group has received the first instalment of money from its stake sale in flagship firm Zee Entertainment Enterprises Ltd (ZEEL), as it races to meet a month-end payment deadline.

Auto stocks: Finance minister Nirmala Sitharaman on Tuesday said the government will soon respond to the demands of the automobile sector, which is facing the worst slump in more than two decades.

Sun Pharma: Drug major Sun Pharmaceutical Industries on Monday said its Netherlands-based arm has fully acquired PJSC Biosintez, Russia by purchasing 3.04% stake in the company under the mandatory tender offer.

Varun Beverages: The company approved acquiring 20% of issued and paid-up equity share capital of Lunarmech Technologies.

Indiabulls Real Estate: The company will divest direct or indirect stake in the existing joint venture companies with Blackstone.

HCL Technologies: Noida-based HCL Technologies Limited (HCL), has acquired Sankalp Semiconductor (Sankalp) for 180 crore.

11 Sep 2019, 08:39:17 AM IST

Yes Bank shareholding churn: Founder Rana Kapoor may sell part of stake

The shareholding structure at Yes Bank may witness a churn with founder Rana Kapoor in talks to sell a part of his stake. Kapoor is discussing a stake sale with One97 Communications, the promoter of financial services firms Paytm and Paytm Payments Bank. In case such a deal does take place, it would require the Reserve Bank of India's approval since One97 holds a licence for a payments bank. Rana Kapoor and his family offices hold 10.59% stake in Yes Bank. Watch the full video for more.

11 Sep 2019, 08:34:58 AM IST

SGX Nifty closes with gains

SGX Nifty ended at 11,027.50 rising 56.50 points, or 0.51%, suggesting positive start for the Indian indices.

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