Share Market Update: Sensex ends 581 points higher, Nifty at 11,786; Auto indices gain 4%

Opening Bell

Share Market Live: After Diwali weekend, equity indices have opened in the bullish territory, with Sensex and Nifty rising 0.20% each. While Sensex rises 95 points to 39,323 level, Nifty trades 22 points higher at 11,649 mark. 

FII and DII bullish on Diwali Muharat trading

Net investment of equity and debt reported by foreign portfolio investors (FPIs) turned bullish with net buying logged at mere Rs 6.61 crore from Indian equities while domestic institutional investors (DIIs) bought Rs 54.39 crore on Sunday, the Diwali at Muharat trading.

 

Indian Rupee opens at nearly 1-month high

Rupee opens higher, at nearly a month's high at 70.47 per dollar against the Friday's close of 70.88 per dollar.

 

Earnings due today

DCM Shriram, Atlas Cycles, Hindustan Zinc, Petronet LNG, SKF India, Tata Metaliks, Wonderla Holidays, Petronet LNG are among the companies that are due to post their Q2 earning figures today.  

 

Bharti Airtel 3% lower after the co deferred its Q2 results due today

Bharti Airtel share price fell in early trade today after the telco said it has deferred its second quarter earnings after the Supreme Court allowed the government's plea last week to recover adjusted gross revenue (AGR) of Rs 92,000 crore from telecom service providers.

Bharti Airtel share price was the top loser on Sensex falling up to 4.06% to Rs 358.25 on BSE. On NSE, Bharti Airtel share price was trading 3.54% or 13.20 points lower at Rs 359.90.

The telco said in a filing to BSE said, "Please be informed that the management of the Company recommended to the Board of Directors that the agenda item related to the approval of audited financial results for the second quarter (Q2) and half year ended September 30, 2019 which was to be a part of the board meeting today be deferred till November 14, 2019 on account of the fact that more clarity is needed on the AGR matter arising out of recent judgement of Hon'ble Supreme Court. "

Bharti Airtel share falls most on Sensex after telco defers Q2 earnings post SC order on AGR

Global Market Update

 
In the Asian markets, Nikkei, Hong Kong and South Korea Index gained half a percent after the U.S. equities climbed to a record high, propelled by optimism for a trade deal between U-China, encouraging earnings and expectations for another rate cut by US Federal Reserve on next policy meeting. Nikkei Index was at one year high.

On the Singaporean Exchange, SGX Nifty was trading up 12 points or 0.1%. Today, US Dow Futures gained 20 pts or 0.1%.
 
US market ends higher with S&P hitting a record high on Monday. US Dow Jones advanced half a percent and the S&P 500 finished over half a percent higher at above 3k (3,039), up at its highest ever close after Trump’s hint of a Phase One trade deal with China next month. Encouraging comments from Beijing overnight that the technical work for a preliminary deal was mostly done also cheered Wall Street.

Tata Motors stock rallies 15% amid better-than-expected Q2 figures, equity-raising plans

Tata Motors continued its rally after Sunday's Diwali Muhurat trade and rose another 15% to Rs 170 today after posting a turnaround September quarterly results on Friday. Tata Motors shares had risen 18% to Rs 150 on Sunday. US-listed shares of the Indian carmaker had surged 13.2% on Friday.

The Indian carmaker reported a loss in September quarter, dented by weak volume growth in India, although the quarterly net loss was narrowed and the company board approved fundraising plans to reduce debt. Company's subsidiary Jaguar Land Rover rebounded with 8% year-on-year increase in revenue for the September quarter, driven by higher wholesales and a favourable product mix. Additionally, brokerages have upgraded the stock and increased targets too on the stock.

On the consolidated basis, the country's largest automobile manufacturer posted a lower-than-expected net loss of Rs 216.56 crore, while revenue declined 9.15 per cent to Rs 64,763.39 crore during the quarter under review.

Tata Motors stock today opened with a gain of 2.4% today against the Sunday's close of Rs 147.95. Amid an intraday volatility of 6.19% and a wide range trading of Rs 18.8, the stock rose 15.11% intraday on BSE to Rs 170.3. With the bullish momentum today, the stock has outperformed 'Auto' sector by 11.32, where the auto sector has risen 2.4% intraday.

Tata Motors share price rallies 15% on Q2 earnings, equity raising plans

 

EU agrees to deadline extension for Brexit

The European Union has agreed to extend UK's exit from the bloc till 31 January, 2020.

“The EU27 has agreed that it will accept the U.K.’s request for a Brexit flextension until 31 January 2020. The decision is expected to be formalised through a written procedure,”European Council President Donald Tusk tweeted.


To this, UK PM’s office has said that UK Parliament is to blame for breaking 31 October, 2019 deadline

Equity market turns majorly bulllish

After Diwali's Muharat tarding rally, equity indices trade majorly on the bullish territory on Tuesday, with Sensex and Nifty rising 0.70% each, amid strong global equities. While Sensex rises 300 points to 39,547 level, Nifty trades 91 points higher at 11,718 mark.

Sectors update

On the sectoral front, except FMCG and media stocks that trade marginally bearish, all the other indices trading in the green, with over 3% rise recorded in Auto and metal stocks, followed by 1% hike in energy, CPSE, commodities, PSU banks and pahrma scrips.

M&M sells 13,500 vehicles on Dhanteras

Mahindra & Mahindra rose nearly 3% today to the intraday high of Rs 610.35 after the company announced that it has sold 13,500 vehicles on Dhanteras across the day.

"This festive season on the day of Dhanteras the Auto Division of the Company delivered close to 13,500 vehicles across the country.This figure was substantially higher than the deliveries last year on Dhanteras," the compay said in a BSE filing on Sunday.



 

Rupee appreciates 18 paise to 70.72 per US dollar

The rupee on Tuesday appreciated by 18 paise to 70.72 against the US dollar in morning trade, as gains in domestic equity market and easing crude prices strengthened investor sentiments.

However, strengthening of the greenback vis-a-vis other currencies overseas capped gains for the rupee, forex dealers said.

At the interbank foreign exchange, the rupee opened strong at 70.75, showing a gain of 15 paise over its previous closing.

On Friday, the rupee had appreciated by 12 paise to settle at 70.90 against the US dollar.

Forex market remained closed on Monday on account of 'Diwali Balipratipada'.

A higher opening in the domestic equities supported the local unit.

Rupee vs Dollar: Rupee appreciates 18 paise to 70.72 per US dollar amid easing crude prices

Sensex trades nearly 250 points away from 40,000 mark

Indian stock market traded majorly bullish after an extended three-day weekend, with Sensex rising 490 points to 39,758 and Nifty ganing138 points to 11,765. Broader Asian markets also rose amid buoyed investor sentiment over U.S.-China trade deal optimism and fed rate cut hopes.

 

IndiGo declines over 5%

Shares of InterGlobe Aviation Ltd, parent of the country’s largest airline IndiGo, plunged  5.37% intraday after India’s air safety watchdog Directorate General of Civil Aviation (DGCA) instructed the airline to change engines at least 16 of its Airbus A320neos within fortnight, following three instances of in-flight engine shut-downs.

 

RIL rises nearly 3%

Shares of Reliance Industries (RIL) rose nearly 3% after the company on Friday said it will set up a new subsidiary to bring all its digital initiatives and apps under a single entity, and infuse Rs 1.08 lakh crore equity into this new unit.

Crude oil slips marginally lower

Brent futures, the global oil benchmark, slipped 0.70 per cent to USD 61.14 per barrel.

Sensex Pack gainers/losers

Tata Steel, RIL, M&M, Vedanta, TCS and Maruti advanced up to 3%, whereas Bharti Airtel, Yes Bank, Kotak Bank, HUL, NTPC, Asian Paints, PowerGrid and SBI fell up to 4% each.  

Sensex rises 600 points, Nifty hovers around 11,800 mark

Sensex has risen almost 607 points to 39,857 level and Nifty has climbed 166 points to 11,795 level by the afternoon session. Sectorally, Meatl index has gained te most today, at 4% rise, followed 3.6% hike in auto scrips and over 1% rise in banking, financials, CPSE, commodity and energy indices.

Sensex rises 650 points, Nifty crosses 11,800

Indian stock market traded majorly bullish after an extended three-day weekend, on Tuesday, with Sensex and Nifty rising 1.50% each, amid strong global equities. While Sensex rises 650 points to 39,886 level, Nifty has climbed abpve 11,800 level for the first time since July, at a rise of 177 points.

Fed Meet begins today

The Federal Reserve is widely expected to deliver another quarter-point cut to its benchmark interest rate when policy makers conclude a two-day meeting on Wednesday.