Sensex, Nifty flat; Emami slumps 6%, ITC down 1% Ahead of Earnings

The S&P BSE Sensex was trading in the red on Friday tracking the mixed cues seen in other Asian markets. The Nifty50 also managed to reclaim its crucial psychological level of 8100.
 

The broader markets tailed the benchmark indices with the BSE midcap index outperforming the BSE benchmark, up 0.55 per cent. The BSE smallcap index was also up 0.12 per cent.


Sensex: 26784.37, down 53 points; Nifty: 8106.05, down 5.7 points


Top Gainers:

NTPC (5.2%), HINDALCO (2.9%), TATA STEEL (1.9%), DR. REDDYS LAB (1.6%), AXIS BANK (1.1%)


Top Losers:

iTC (4.5%), VEDANTA (2.5%), M&M (1.7%), GAIL (1.3%), ONGC (1.2%)


BUZZING STOCKS:


NTPC surged over 6 per cent in intraday trade.

MRPL surged over 7 per cent in intraday trade.

Emami slumped about 6 per cent in intraday trade.

NIIT Technologies gained over 8 per cent in intraday trade.

Just Dial slipped over 6 per cent in intraday trade.

Hexaware was down over 3 per cent in intraday trade.

Muthoot Finance was down about 4 per cent in intraday trade.

Reliance Infra climbed about 5 per cent in intraday trade.

Jindal Steel surged over 6 per cent in intraday trade.

Nifty struggles to hold 8150; banks, FMCG laggards

The market is volatile as generally seen on F&O expiry day. The Sensex is down 48.70 points or 0.2 percent at 26991.06 and the Nifty is down 19.95 points or 0.2 percent at 8151.25. About 1162 shares have advanced, 884 shares declined, and 144 shares are unchanged.
 

Bank and FMCG stocks are under heavy selling pressure. BHEL, Axis Bank, Bharti Airtel, GAIL and Maruti Suzuki are major losers in the Sensex.
 

There is no reason why one should not grab Axis Bank at the current levels, suggests Dipen Sheth of HDFC Securities. He urges investors to look at all parameters like NIM, loan growth etc and not agonise over NPAs. Sheth calls the private lender responsible for admitting its September quarter asset quality concerns. He is also bullish on ICICI Bank , which also has stressed assets, and advises to own the two stocks with a 2-year time horizon. "We remain buyers,"
 

Oil prices tumbled, cutting short a rally the day before after hints of an interest rate hike in December by the US Federal Reserve boosted the dollar.

 

 

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Sensex, Nifty continue to be sluggish; Banks slump

The market continues to be under pressure as the Sensex is down 151.57 points or 0.6 percent at 27101.87. The Nifty is down 39.45 points or 0.5 percent at 8193.45. About 830 shares have advanced, 646 shares declined, and 74 shares are unchanged.

Bharti Airtel, HDFC Bank, Tata Motors, Tata Steel and GAIL are top gainers in the Sensex. Among the losers are Axis Bank, ICICI Bank, Lupin, ONGC and Coal India.

Gold retained small overnight gains on Wednesday, but caution prevailed ahead of a Federal Reserve policy statement later in the session as investors waited for clues on the timing of a US rate hike. The US central bank is not expected to raise rates on Wednesday, but markets will be eyeing the statement for the Fed's take on the US and global economies, and whether it could hike rates at its next meeting in December.

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Sensex slips over 100 points, Nifty below 8,250; HDFC, Vedanta down 2% each

The S&P BSE Sensex slipped over 100 points on Tuesday tracking weakness seen in other Asian markets.

 

The Nifty50 also started on a weak note and broke below its crucial psychological level of 8250.
 

The shares of Vedanta slipped about 2 per cent ahead of earnings while Hitachi cracked over 1o per cent. HDFC also slipped about 2 per cent post Q2 earnings.The broader markets outperformed the becnhmark indices with the BSE midcap index trading marginally higher by 0.12 per cent while the BSE smallcap index was down 0.05 per cent. Among the sectoral indices, the BSE Metals index was the top laggard, down 1.2 per cent.

The rupee inched 1 paise lower at 64.97 against the US dollar in early trade on Tuesday after home sales data released in the US overnight diminished hopes of a shift in the policy stance by the Federal Reserve in a two-day policy review, beginning later in the day. The domestic currency had depreciated 12 paise to close at 64.96 against the greenback in the previous session, led by dollar buying by domestic banks and importers. 

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