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Share Market Update: Sensex ends 334 points lower, Nifty at 11,589; IT index slips 7%

businesstoday.in | Updated Oct 22, 2019, 4:27 PM IST

Share Market Update: Snapping six-day gaining sessions, benchmark indices Sensex and Nifty on Tuesday turned bearish to close near day's low, amid heavy sell off in IT stocks. While S&P Sensex closed 334 points lower at 38,963 level and Nifty50 ended 71 points lower at 11,589. Sectorally, IT sector was most bearish with BSE IT index closing 7% lower and Nifty IT ending 4.8% lower, following a nearly 17% drop in Infosys, 2% drop in Tech Mahindra, Hexaware and HCL Tech and1% decline in Mindtree, Just Dial scrips. Besides, metal, media and auto indices too closed marginally lower. Although over 1% gain in Pharma, realty, banking and financial scrips helped cap gains.

 

Share Market Update: While S&P Sensex closed 334 points lower at 38,963 level and Nifty50 ended 71 points lower at 11,589 Share Market Update: While S&P Sensex closed 334 points lower at 38,963 level and Nifty50 ended 71 points lower at 11,589
22 Oct 2019, 10:08:11 AM IST

Last close on Friday

On Friday, benchmark equity indices ended on a bullish note, on back of buying pressure in PSU banking, pharma, realty and metal scrips, amid healthy Q2 earning season. Sensex closed at 39,298 level and Nifty rose 75 points higher to 11,661 level. Sectorally, all sectors traded in the green except media, with over 1% rise in PSU banking, pharma, realty and metal scrips by the closing bell.

Share Market Update: Sensex ends 246 points higher, Nifty at 11,661; YES Bank gains 8%
22 Oct 2019, 10:14:24 AM IST

Infosys share price opens 10% lower, declines 13% on NSE

Infosys share price opened 10% lower on BSE and NSE today as the IT firm faces allegations of indulging in 'unethical' practices to generate more profit and revenue from an  anonymous employee group, named as 'Ethical Employees'. Infosys share price was stuck in the lower circuit of 10%, losing 76 points to Rs 691 level compared to the previous close of Rs 767.75 on BSE.

Infosys share opens 10% lower on Sensex, Nifty; Rs 44,283 crore investor wealth lost amid allegations of 'unethical' practices
22 Oct 2019, 10:19:14 AM IST

Sensex Pack gainers and losers

Tata Motors, HCL Tech, Tech Mahindra and Asian Paints, were among the top loser in Sensex pack, shedding up to 4% each. Yes Bank, TCS, Bharti Airtel, HUL, ICICI Bank, Hero MotoCorp, HDFC twins, RIL and ITC, on the contrary rallied upto 7%.
22 Oct 2019, 10:20:14 AM IST

FII positive for fifth consecutive day

 

Foreign institutional investors (FIIs) continued to be net buyers in the capital market, infusing Rs 36.56 crore on Friday, while domestic institutional investors purchased shares worth Rs 586.88 crore, data available with stock exchange showed.
22 Oct 2019, 10:25:30 AM IST

Rupee trades at 70.92 per dollar

The rupee, the domestic unit appreciated by 22 paise against the US dollar to trade at 70.92 in early session. The local currency has closed at 71.14 against the dollar on Friday.
22 Oct 2019, 10:35:22 AM IST

HDFC gains over 2% post Q2 results

HDFC Bank registered an increase of 26.8% in net profit on an annual basis for the quarter ended September 30, 2019. HDFC Bank's net interest income for the second quarter of current fiscal grew 14.89%, while its other income for the quarter increased 39.2%. Total advances as of September 30 increased 19.5% q-o-q, while total deposits saw an 22.6%increase. CASA deposits grew by 14.7 per cent.Pre-provision Operating Profit (PPOP) stood 23.4% higher q-o-q.

HDFC Bank stock opened with a gain of 2.26% today and rose 2.26% intraday to Rs 1,257. The stock trades 3.27% away from 52 week high of Rs 1,285.

HDFC Bank net profit rises 26.8% to Rs 6,345 crore in Q2 FY20
22 Oct 2019, 10:40:03 AM IST

Oil slips marginally to 58.94 per barrel

Oil prices were little moved as the market fretted about the health of the global economy and the future for energy demand.

Brent futures, the global oil benchmark, slipped 0.03 per cent to USD 58.94 per barrel.
22 Oct 2019, 10:47:11 AM IST

DHFL declines 4.9% amid ED probe

Dewan Housing Finance Limited stock price opened with a loss of 4.9% today and fell 4.9% intraday to the day's low of Rs 20.4, as the housing lender came under the scanner of Enforcement Directorate (ED) for giving loans to Sunblink Real Estate Private Limited which facilitated routing of Rs 2,186 crore to 1993 terror attack mastermind Dawood Ibrahim's close associate Iqbal Mirchi in Dubai.

DHFL lent Rs 2,186 crore to Sunblink Real Estate with links to Iqbal Mirchi; under ED scanner

 
22 Oct 2019, 11:00:01 AM IST

Brexit Deal

Investors awaited cues from yet another vote on Brexit that would still avert a hard exit for Britain.

Prime Minister Boris Johnson failed to get a vote on his Brexit deal and will try again on Tuesday to get the first stage of a withdrawal bill through Parliament.
22 Oct 2019, 11:00:23 AM IST

US-China trade deal

US President Donald Trump on Monday said progress in developing the text of a partial trade pact with China means he will likely be able to sign it next month.

China and the United States have achieved some progress in their trade talks    
U.S. President Donald Trump sounded upbeat on a China deal on Monday as he said progress in developing the text of a partial trade pact with China means he will likely be able to sign it next month.
22 Oct 2019, 11:06:28 AM IST

Reliance Industries share hits new 52 week high today

Reliance Industries Ltd (RIL) share price rose to a new 52-week high of Rs 1,437.65 after the Mukesh Ambani-led firm reported Q2 earnings which came in line with expectations.

On Friday, the RIL stock closed 1.37% or 19.15 points higher at Rs 1,415.30 ahead of Q2 earnings set to be announced after market hours.

Reliance Industries reported 18.3% year-on-year (YoY) rise in consolidated net profit. RIL's consolidated net revenue grew by 4.8% year-on-year. RIL's profit before tax (PBT) increased by 15.5%. Other income jumped nearly 3-fold, while company's operating profit (EBITDA) rose by 7.1% YoY

 
22 Oct 2019, 11:11:46 AM IST

Bharti Airtel rises nearly 2% post earnings

Bharti Airtel stock rose nearly 2% to Rs 390.70 after the telecom reported a 61% year-on-year (y-o-y) growth. Company's consolidated revenue, however, dipped by 1% during Q2FY20,

Bharti Infratel's operating profit, or Earnings before Interest, Tax, Depreciation And Amortisation (EBITDA), surged 25%  in July-September quarter, while its operating free cash flow was up 8 per cent y-o-y.


Bharti Airtel's stock trades 2.35% away from 52 week high of Rs 396.55
22 Oct 2019, 11:44:12 AM IST

Listed firms due to post results today

Companies that are due to release their quarterly earnings today are namely ICICI Prudential Life Insurance, IndiaMART InterMESH, ICICI Securities Ltd, Axis Bank, RBL Bank, Asian Paints, Bajaj Finserv, Bajaj Finance, Ceat,  Kotak Mahindra Bank, Bank of Maharashtra, Oriental Bank of Commerce, CCL Products, Granules, Elecon Engineering, Hatsun Agro, Jubilant Foodworks, Jyothy Labs, M&M Financial, OBC, Rallies India, Welspun Corp, Glaxo, Ultracab (India), Syngene International,Sharda Cropchem Ltd, Reliance Home Finance, Rane Brake Lining, PSP Projects Ltd, PPAP Automotive, IIFL Securities Ltd, Newgen Software Technologies, DIC India, Coromandel International, Indiabulls Ventures, Hatsun Agro Product and Muthoot Capital Services.

 
22 Oct 2019, 11:57:13 AM IST

Axis Bank shares climb 2% ahead of

Share price of Axis Bank traded 2% higher on the BSE ahead of the September quarterly results, due to release today. The stock has outperformed  banking sector by 0.34% today.
22 Oct 2019, 12:25:17 PM IST

Market turns bullish by afternoon session

Share Market Live: After a bearish start, benchamrk indices Sensex and Nifty tuned bullilsh by Tuesday's afternoon session, on back of buying pressure in PSU bank, other banking and financial stocks. While Sensex  has gained 32 points to 39,330 level, Nifty50 has risen 32 points to 11,690 mark. Sectorally, except IT stocks, all the other sectors trade in the green, with over 2% rise in PSU Banks, followed by over 1.5 % hike in financial and other banking indices.  Media, pharma, realty scrips are gaining over 1%. Domestic financial markets remained closed on Monday due to assembly elections in Maharashtra.
22 Oct 2019, 1:08:51 PM IST

YES Bank top gainer on BSE, NSE

Shares of private lender YES Bank gained nearly 10% intraday to Rs 56.5 on the BSE, after media reports suggested that the bank is set to take over an estimated Rs 6,000 crore residential project from the developer Sumer Radius Realty, over non-payment of dues worth more than Rs 479 crore.

With accessing the possession of totalling 6.4 acres land in Mumbai’s Santacruz locality, the lender will also control 50% Sumer’s share in the joint entity. In 2016, the project was turned into a joint venture between builder Sanjay Chhabria of Radius Developer and Ramesh Shah of Sumer Group.

YES Bank had sent a demand notice in July 2019 to Sumer Group for repayment of dues with interest and other charges within 60 days period. Last Friday, the lender issued a ‘possession notice’ and notified the developer of its move under the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002. YES Bank reportedly warned public not to deal with the property.
 
22 Oct 2019, 1:11:13 PM IST

Infosys plunges 16% lower

Infosys plunges 16% with 10 times increase in volumes, due to whistleblower's complaints about instances of unethical practices by the CEO and CFO.

Infosys opened with a loss of 10% today and touched an intraday low of Rs 645.35 (15.94%). The stock is trading lower than 5, 20, 50, 100, and 200-day moving averages.
22 Oct 2019, 1:16:50 PM IST

Market turns bearish

Share Market Live: Benchmark indices Sensex and Nifty traded lower by the Tuesday's afternoon session amid high volatility, despite all the indices trading in green, except for IT sector.  While Sensex  has lost 80 points to 39,200 level, Nifty50 has fallen 14 points to 11,647 mark.
22 Oct 2019, 2:49:44 PM IST

Bajaj Finance stock hits all time high

Bajaj Finance stock has hit new 52 week and all time high of Rs 4,219.5 today, after the company posted robust September quaterly result, with a 63.11% year-on-year (y-o-y) growth in consolidated net profit at Rs 1,506.29.

Consolidated total income of the Bajaj group firm jumped 48 per cent to Rs 6,322 crore during Q2FY20, as against Rs 4,273 crore in Q2FY19.

Bajaj Finance's net interest income for the second quarter of current fiscal grew 48 per cent to Rs 3,999 crore from Rs 2,708 crore for the quarter ended September 30, 2018.
The other income, which includes fee, stood at Rs 860 crore, amounting to an increase of 80 per cent over Rs 478 crore in the corresponding quarter last fiscal.

Bajaj Finance Q2 profit jumps 63% to Rs 1,506 crore, share hits 52-week high



 
22 Oct 2019, 2:51:20 PM IST

Piramal Enterprises' shares rise 10% post Q2 result

Piramal Enterprises share price rose over 10% intraday after the pharma giant posted 15% growth increase in its net profit to Rs 554 crore for the September ended the quarter on the back of a robust performance in its pharma and healthcare business.


PIL registered a 15% increase in its revenue to Rs 3,604 crore in the quarter ended September 30, 2019. While pharma services grew 19% year on year to Rs 1,316 crore, the revenue of healthcare insights and analytics grew 14% to Rs 333 crore. Company's global pharma revenues grew by 17% to Rs 1,204 crore.

PEL’s financial services business grew 13% to Rs 1,954 crore in the July to September quarter.
 
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