Share Market Update: Sensex ends 38 points lower, Nifty at 11,582 level; DHFL hits fresh 52-week low
businesstoday.in | Updated Oct 24, 2019, 4:20 PM IST
Share Market Update: After a volatile trading session amid state election verdict, equity indices Sensex and Nifty turned negative and closed marginally lower on Thursday backed by strong
selling pressure in all most every sectoral indices. Except realty, that closed 0.80% lower, all the other sector indices closed in red, with over 3% losses registered in PSU banking scrips. While Sensex ended 38 points lower 39,020 level, Nifty ended the day's trade 21 points 11,582 mark.
On Thursday, Sense opened at 39,223.01 against the last closing of 39,058.83 and Nifty50 started the day's trade at 11,661.65 against the previous closing of 11,604 
Sectorally, except auto scrips, all the other indices traded in the green by the early session, with highest gains registered in media, metal, financial services and private banking scrips. 
ITC, Maruti Suzuki, Colgate Palmolive, InterGlobe Aviation, ICRA, Raymond, PNB Housing Finance, IDFC First, Cummins, Bandhan Bank, Motilal Oswal Financial Services Ltd, Reliance Naval and Engineering,Reliance Nippon Life Asset Management, Gujarat State Fertilizers & Chemicals, Shriram Transport, HDFC Asset Management Company, DCM Shriram, Anup Engineering, Westlife Developement, United Spirits, Vascon Engineers, Tata Steel Bsl, Arvind Ltd, Orient Carbon, Parag Milk, Jubilant Industries, Coromandel Engineering Company and Kaycee Industries are among the top listed companies that are due to post results today, data available with BSE shows. 
Domestic equity market has opened positive led by firm global cues. Elsewhere in Asia, markets have opened positive. On the Singaporean Exchange, SGX Nifty is trading up 24 points at 11,662.50.
Net investment of equity and debt reported by foreign portfolio investors (FPIs) remained bearish with net selling logged at Rs 213.23 crore from Indian equities. Similarly domestic institutional investors (DIIs) too logged net selling at Rs 137.38 crore on Wednesday.
Oil prices dipped on Thursday after sharp gains in the previous session following a surprise draw in U.S. crude inventories, with concerns over a weak demand outlook adding to downward pressure. Brent Crude was at $60.78/bbl, down 0.64% and later traded at 60.84 per barrel, down 0.54%.
Shares of Larsen and Toubro rose 2.45 % intraday to Rs 1,466 on the BSE after the engineering and construction company reported better-than-expected results for the September quarter and logged nearly 7% rise in net profit.
Internationally, gold prices remained flat on Thursday. Spot gold was unchanged at $1,493.01 per ounce as of and U.S. gold futures were too flat at $1,495.70 per ounce. 
Shares of HCL Technologies rose gained almost 8% to the day's high of Rs 1,160 on the BSE in Thursday's early trade after the IT major reported 6.9 per cent year-on-year (YoY) growth in consolidated net profit at Rs 2,711 crore for the second quarter ended September 30, 2019. The profit was 21.6 per cent higher compared to Rs 2.230 crore in the March quarter.
Shares of Hero MotoCorp declined 1.55% to Rs 2670.05 on BSE today, after the world's largest two-wheeler manufacturer, reported 10 per cent year-on-year decline in its consolidated net profit at Rs 883.78 crore for the second quarter ended September 30, 2019.
Share price of HDFC Life Insurance Company gained 1.33% intraday to Rs 611 on the BE today after the compay clocked a 7.6 per cent growth in profit after tax at Rs 308.7 crore for the second quarter ended September 30, 2019, as compared to Rs 287 crore in the same quarter last yeat.
In domestic cues, market opened today with gains as early leads indicate BJP forming government in both Maharashtra & Haryana assembly polls. While Sensex rose 300 points to the day's high of 39,327 level, Nifty rose 19 points to the high of 11,679.60 mark. 
The Indian rupee appreciated by 21 paise to 70.70 against the US dollar in early trade on Thursday as easing crude prices strengthened investor sentiments.
Infosys on Thursday said the US Securities and Exchange Commission had launched an investigation into whistleblower allegations against Chief Executive Officer Salil Parekh and Chief Financial Officer Nilanjan Roy. "The company has been in touch with the Securities and Exchange Commission ("SEC") regarding the anonymous whistleblower complaints ("anonymous complaints") and has learnt that the SEC has initiated an investigation into this matter. The company will cooperate with the SEC's investigation," Infosys told stock exchanges.
Shares of MTNL rose 4.95% intraday and hit 5% upper circuit o fRs 6.19, after the Union Cabinet on Wednesday approved the merger of two ailing state-owned telecom companies - Bharat Sanchar Nigam Limited (BSNL) and Mahanagar Telephone Nigam Limited (MTNL). There are only buyers and no sellers offering the stock currently. 
Share Market Live: After a bullish start, equity benchmark indices Sensex and Nifty turned negative on Thursday, backed by selling pressure in banking and pharma indices. While Sensex has fallen 50 points 39,006 level, Nifty declined 15 points 11,584 mark. Sectorally, all the indices are currently trading in red, with PSU Bank indexlosing over 1%. 
Shares of Dewan Housing Finance Corporation fell 5% intraday to hit a fresh 52-week low of Rs 18.45 after the exchange bourses asked for clarification on the recent fund diversion reports and company being probed by the Enforcement Directorate in connection with its alleged link with global terrorist Dawood Ibrahim's aide Iqbal Mirchi. There are only offers and no bids on the stock price.
Share Market Live: After a volatile morning session, Sensex and Nifty have turned bullish by Thursday's afternoon backed by strong buying pressure in realty and media scrips. While Sensex has risen 60 points 39,116 level, Nifty declined 9 points 11,613 mark. 
Share Market Live: Equity market has turned volatile on Thursday amid bearish trend seen in broader indices Sensex and Nifty, backed by strong selling pressure in PSU Banking that has declined over 3%, followed by fall in pharma and other banking scrips. While Sensex fell 100 points 38,991 level, Nifty declined 29 points 11,574 mark. 
Shares of Cummins India fell over 6.62% intarday to Rs 540 on the BSE, after the company reported 11% decline in sales to Rs 1,285 cr, as compared to Rs 1,452 cr recorded in the same quarter last year and 2% fall compared to Rs 1,316 cr recorded in the preceding quarter.
