Share Market Today: Market closes in red, Sensex ends 336 points lower; Nifty at 12,056

Pre-open on Friday

Share Market Today: Broader indices Sensex and Nifty have opened on a flat-to-positive note on Friday, the November Futures and Options expiry day, amid weak global equities. SGXNifty trades 29 points lower at 12,157, indicating lower start for the broader domestic indices.

Stocks in the news

HDFC Bank, YES Bank, Fortis Healthcare, PC Jeweller, Edelweiss Financial Services, Tata Power, Aurobindo Pharma, Oil and Natural Gas Corporation (ONGC), Mahindra & Mahindra, IL&FS Transportation Networks among other are the listed entities likely to be on the focus in Friday's trading session. Read more

Global Market Update

On Friday, markets are expected to trade on a muted note, on account of weak global cues. Asian market opened on a mixed bag concern of US-China trade deal.Hong Kong Index slipped 1% while Nikkei Index was trading flat. SGX Nifty declined 0.1% European market yesterday declined marginally ahead of UK election.

FII remain bullish, DII stays bearish

Net investment of equity and debt reported by foreign portfolio investors (FPIs) was positive with net buying logged at Rs 1,008.89 crore from Indian equities while domestic institutional investors (DIIs) turned bearish with net selling logged at Rs 155.47 crore on Thursday.  

HDFC Bank shares to be in focus today

HDFC Bank shares will be in focus after the lender said it has constituted a six-member search committee to replace Aditya Puri as managing director and chief executive officer of the bank, whose tenure ends on October 26, 2020 "The board of directors of the bank, at its meeting held today, has constituted a search committee to identify a successor to Aditya Puri, the current managing director of the bank, whose tenure ends on October 26, 2020," HDFC Bank said in a filing to the Bombay Stock Exchange. Read more

GDP growth rate to be announced today

The GDP growth rate for the second quarter of FY20 will be announced today. As per analysts, the GDP growth is likely to hit yet another low. GDP growth has been on a downward slide for six quarters straight.

Rating agencies India Ratings and ICRA expect the growth numbers to be 4.7 per cent. Kotak Economic Research that estimated GDP growth to be at 5.2 per cent earlier has slashed it to 4.7 per cent. Read more

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Market opens in red

Share Market Today: Broader indices Sensex and Nifty have opened on a negative note on Friday, the November Futures and Options expiry day, amid weak global equities. BSE Sensex today has opened at 41,138.26  against the previous closing of  41,130.17 and NSE Nifty50 has started the day's trade at 12,146.20, compared to previous closing of 12,154.  

Rupee trades flat

The Indian rupee, the local currency opened flat at 71.61 per dollar at the interbank exchange on Friday compared to Thursday's close 71.60 per US dollar.

Market Update

Despite positive domestic sentiments led by continued government reforms process, FIIs buying interest and good quarterly results, both the broader indices turned majorly bearish within few minutes of trade, tracking weak Asian equities that traded lower amid concerns of US-China trade deal. As per analysts, traders are expected to book profits on November F&O expiry day.

Sectors Today

In terms of sector-based indices, gains in media, pharma, PSU bank and realty were capped by losses in auto, metal, IT, FMCG  and banking and financial sectors.

Gainers and Losers

Top losers were Tata Steel, ICICI Bank, Hindalco, Kotak Bank and Bharti Infratel while YES Bank, Zee Entertainment, Bharti Airtel, BPCL and UltraTech Cement were among the top gainers in Friday's trade.

HDFC Bank declines

HDFC Bank shares traded lower on Friday and touched day's low of Rs 1,257 on BSE. The private bank on Thursday said it has constituted a six-member search committee to replace Aditya Puri as managing director and chief executive officer of the bank, whose tenure ends on October 26, 2020.

YES Bank board to meet for fundraising plans today

YES Bank stock was the top gainer on the broader index Nifty for the third straight session on Friday. YES Bank stock price  rose 4.78% to the day's high of Rs 73.4, ahead of the private lender's board meeting for considering various options for raising funds, scheduled today. "A meeting of the board of directors of YES Bank will be held on Friday, November 29, 2019, to discuss and consider raising of funds by issue of equity or equity-linked securities through permissible modes", YES Bank said in a regulatory filing on November 26.  The fundraising is subject to necessary shareholders and regulatory approvals, as applicable, it added. Read more  

Fortis declines over rating wihdrawal by CARE

Fortis Healthcare share traded mildly bearish today as CARE Rating withdrew "CARE BBB-/ CARE A3, Credit watch with developing implications" rating in respect of the company's long term bank facilities and short term facilities. "CARE BBB- Credit watch with developing implications" rating has also been withdrawn in respect of its subsidiary (Escorts Heart Institute & Research Centre Limited) for short term bank facilities, the regulatory filing added.

Aurobindo Pharma rises over 2%

Shares of Aurobindo Pharma surged 2.67% to the day's high of Rs 462.2 on Friday, as the drug maker said its subsidiary Auro Vaccines LLC has entered into an agreement to acquire certain business assets from Profectus BioSciences Inc USA for an upfront cash consideration of USD 11.29 million (around Rs 80 crore) with potential earn-outs on achieving certain milestones. Read more

Tata Power gains 2%

Tata Power stock price climbed 2.39% to the intraday high of Rs 57.8 on Friday as the power generation arm of Tata group is planning to sell a stake in its renewable energy portfolio to global investors to reduce its debt. The company is exploring the option of bringing in global investors through an infrastructure investment trust, commonly called an InvIT, reported Reuters.  

RIL shares fall after 2 days of straight gain

Reliance Industries stock has fallen after 2 days of consecutive gain on Friday. The index heavyweight stock traded down 0.80% at Rs 1,567 on BSE, against yesterday's closing of Rs 1,579. On Thursday, RIL share became the first company among listed entities to hit a market capitalisation (mcap) of Rs 10 lakh crore mark, after the shares hit record high of Rs 1,581.25 on the BSE. Read more  

Market declines further

Share Market Today: Equity benchmark indices Sensex and Nifty are trading majorly negative on Friday, the November Futures and Options expiry day, amid weak global equities. BSE Sensex today trades 230 points lower at 40,903, against the previous closing of 41,130.17. Similarly, NSE Nifty50 trades at 12,091, declining 57 points compared to previous closing of 12,154.

Market Update

Both the broader indices turned majorly bearish within few minutes of trade, tracking weak Asian equities that traded lower amid concerns of US-China trade deal. As per analysts, traders are expected to book profits on November F&O expiry day. Additionally, expectations of slower economic growth in the September quarter further kept investor sentiments down.

Future Retail rises 18%

Future Retail rose 18% on Friday's early session after the Competition Commission of India (CCI) approved Amazon's proposed Rs 1,500 crore deal to acquire 49% stake in Future Coupons Ltd (FCL), a Future Retail promoter group company. Future Retail shares opened with a gain of 4.24% today and later climbed 18.23% to the intraday high of Rs 387.9 on BSE, compared to its previous closing of 328.10. "The proposed combination pertains to the acquisition by the acquirer (Amazon.com NV Investment Holdings) of approximately 49 per cent of the voting and non-voting equity shares of the target (Future Coupons Ltd)," CCI said in its order. Read more