Share Market Update: Sensex ends 136 points higher, Nifty at 11,945; Infosys, Infratel, Tata Steel top gainers

Hero MotoCorp, Infosys top Sensex losers

Of 30 Sensex stocks, 21 were trading in green. Hero MotoCorp, Infosys, Bajaj Auto were the top losers.

Friday action

On Friday, Sensex closed above 40,000 for third consecutive session,  and Nify ended within kissing distance of 11,900. Sensex advanced 35.98 points to 40,165 and Nifty rose 13.15 points to 11,890.  

Mid caps, small caps stocks gain

Mid cap and small cap indices were trading 89 points and 92 points higher in early trade.  

Market breadth

Market breadth was positive with 1229  stocks trading higher compared to 598 falling on the BSE.  

Banking, metals stocks lead gains

Banking and metal stocks led the gains with their BSE indices rising 273 points and 334 points, respectively.  

YES Bank opens 10% lower on Q2 loss

YES Bank share price opened with a loss of 10% at Rs 59.95 today after the lender posted reported a net loss of Rs 600 crore for the second quarter ended September 30, 2019 compared to the net profit of Rs 964.70 crore in the corresponding quarter of last fiscal.Q2 earnings were  impacted by one-time deferred tax adjustment of Rs 709 crore due to change in corporate tax rate regime. Excluding the one-time tax impact, adjusted profit after tax stood at Rs 109 crore, the bank said. Later, the stock gained ground and was trading 2% higher at Rs 68.05 compared to the previous close of Rs 66.60. YES Bank share opens 10% lower on Q2 loss, attempts recovery amid $3 bn infusion reports

Rupee rises 16 paise against dollar

The rupee appreciated by 16 paise to 70.65 against the US dollar in early trade as easing crude prices and sustained foreign fund inflows strengthened investor sentiments. Market participants said higher opening in domestic equity market, and hopes for a US-China trade deal also supported the local currency. At the interbank foreign exchange, the rupee opened strong at 70.55, registering a rise of 26 paise over its previous close of 70.81. It, however, pared some gains and was trading at 70.65 against the dollar in morning trade. Rupee vs Dollar: Rupee gains 16 paise to 70.65 per dollar amid easing crude prices, sustained foreign fund inflows

US jobs data boosts global indices

Asian stock markets followed Wall Street higher Monday after unexpectedly strong US jobs data helped to soothe worries American factory activity was weaker than forecast. The Labor Department said American employers added 128,000 jobs in October, better than the 89,000 forecast. The Shanghai Composite Index rose 0.6% to 2,976.46 and Hong Kong's Hang Seng advanced 1.3% to 27,470.10. Seoul's Kospi added 1.3% to 2,128.12. Sydney's S&P-ASX 200 added 0.3% to 6,691.10. Taiwan, New Zealand and Southeast Asian markets also advanced. On Wall Street, the benchmark Standard & Poor's 500 rose 1% to 3,066.91 on Friday, hitting an all-time high for the third time in a week. The Dow Jones Industrial Average gained 1.1% to 27,347.36. It is within 12 points of the record it set in July. The Nasdaq composite gained 1.1% to 8,386.40.

Earnings due today

Results today: HDFC, Indian Overseas Bank, Can Fin Homes, CARE Ratings, Godraj Agrovet, MRPL, HSIL, Varun Beverages, Mahindra Holidays and Resorts, NACL Industries, Bharat Electronics, HT Media, Mahindra Logistics, Sun Pharma Advanced Research, Mangalore Refinery & Petrochemicals, Intellect Design Arena,  KRBL, NOCIL, Persistent Systems, SRF, Vardhamn Special Steel, Sutlej Textiles and Industries, VST Industries, Wabco India, Sundaram Fasteners, Sundaram Chemical Industries, TCI Developers, Kirloskar Brothers, Kalyani Investment are among the listed companies to post their second quarterly results today.

HDFC result on focus today

 HDFC is scheduled to announce its Q2FY20 results on Monday, November 4. As per analysts, Profit on sale of investments nearly doubled YoY to Rs 1630 cr, largely due to stake sale in GRHF (shareholding now stands at 38.2%), providing sufficient liquidity to the HFC. Dividend received amounted to Rs 1074 cr. The company is expected to report loss of around Rs 300 cr on fair value change of investments in the quarter. NII may grow 13% yoy to Rs 3432 cr. Provisions may remain almost flat yoy basis. It, however, may see a decline in credit growth due to slowdown in the real estate sector, according to analysts.

DII/FII

Net investment of equity and debt reported by foreign portfolio investors (FPIs) remained positive with net buying logged at Rs 533.37 crore from Indian equities while domestic institutional investors (DIIs) turned bearish with net selling logged at Rs 136.50 crore on Friday.  

Sensex/Nifty intraday high and low

Sensex touched an intraday peak of 40,483.21 and low of 40,267.30 today. Nifty too reached 11,987.35, marginally short of 12,000 level, while made an intraday low a t 11,927.60 level.

Global Market Update

Equity markets have opened on a positive note on account of strong global cues. Asian stocks rise on trade optimism and strong US jobs. On the Singaporean Exchange, the SGX Nifty is trading up 26 points at 11,963.50. US Futures (Dow Jones) today trades at 27335 up 76 points or 0.28%. Brent Crude, the oil benchmark traded at $61.37/bbl. US stocks last closed higher on strong jobs data.

Current Market Update

While S&P BSE Sensex trades near high points of the day at 40,393 level, NSE Nifty50 trades 11,980.55, mere points away from 52-week recorded at 12,103.05 level.  

Tata Motors falls 2% on weak sales data

Tata Motors shares declined 2% to the intraday low of Rs 171.50 on the BSE as the automaker reported 33% fall in to 41,354 units last month. While total passenger vehicle sales fell 28% to 13,169 units, total commercial vehicle sales were down 36% to 28,002 units. Commercial vehicle exports fell 54% to 2,019 units. Automakers' domestic medium and heavy commercial truck sales fell 63% to 4,893 units.

Sensex pack gainers/losers

Top gainers in the Sensex pack included Vedanta, Tata Steel, ICICI Bank, Tata Motors, SBI, HCL Tech, Sun Pharma and Bharti Airtel, rising up to 3.20%. On the other hand, Yes Bank, Infosys, Hero MotoCorp, Bajaj Auto and HUL fell up to 4.80%.

India's forex reserves touches new lifetime high

India’s forex reserves touched new lifetime high of $442.583 billion in the week ended October 25, helped by a jump in core currency assets and value of gold. Since March RBI has added whopping $29 billion and more than $10 billion in last one month. Forex reserves scale record high of $442.5 billion

Burger King India to file for Rs 1,000 crore IPO soon

Fast-food major Burger King India is looking to go public next year. And with this move, private equity player Everstone Capital, which owns a majority stake in the quick service restaurant (QSR) chain, will be looking to make at least a partial exit. Sources in the know told The Business Standard that the company will file a document for an initial public offer (IPO) this week with the Securities and Exchange Board of India (SEBI). Burger King India to file for Rs 1,000 crore IPO soon

Equity indices trim gains

Benchmark indices trimmed gains by the afternoon session Monday from record high levels to trade 0.20% higher. While Sensex trades 82 points higher at 40,247 level, Nifty has risen 32 points to trade at 11,922 level.

Varun Beverages rises 2.65% amid Q2 results

Varun Beverages reported healthy earnings for July-September. Varun Beverages share price opened with a gain of 2.65% today to Rs 637, also its intraday high, after the key player in the beverage industry reported healthy earnings for July-September. Company's profit jumped 83.7% on the back of robust volume growth, while its EBITDA increased by 54.2% year-on-year. Revenue from operations (net of excise / GST) grew 49.2% YoY in Q3 2019. Company's regulatory filing added that depreciation has increased by 27.5% during the quarter on account of capitalization of Pathankot plant and consolidation of South and West India sub-territories w.e.f. 1 st May 2019. Total sales volumes were up 60.4% YoY and the organic volume growth this quarter is 20%, supported by robust performance in India (Organic Growth 17.5%) as well as International territories (Organic Growth 27%). Varun Beverages share price gains over 2% on 83.73% rise in Q2 net profit