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Closing Bell: Sensex falls 836 pts, Nifty at 24,200; all sectors in the red
Market Close | Sensex, Nifty down 1% each
Indian benchmark indices ended on a negative note with Nifty at 24,200 on November 7. At close, the Sensex was down 836.34 points or 1.04 percent at 79,541.79, and the Nifty was down 284.70 points or 1.16 percent at 24,199.30.
We wrap up today's edition of the Moneycontrol live market blog, and will be back tomorrow morning with all the latest updates and alerts. Please visit https://www.moneycontrol.com/markets/global-indices for all the global market action.
Prashanth Tapse, Senior VP (Research), Mehta Equities
Markets failed to capitalise on its firm start, as selling pressure resumed after yesterday's breather. The fall can be attributed to continuing foreign fund outflows after the rupee slumped to fresh lows following strength in the US dollar.
Investors restricted their equity bets ahead of the US Fed's policy announcement as they are unsure of the rate cut this time on concerns of a likely uptick in inflation.
Aditya Gaggar Director of Progressive Shares
Diverging from strong global equities, Indian markets started the weekly expiry trade on a tepid note and a sudden fall was seen in the opening trade followed by a range-bound trade before ending the session at 24,199.35 with a loss of 284.70 points.
Barring PSU Banks, all the other sectors ended the day in red with Metal and Pharma being the major laggards.
On the daily chart, the Index has formed a bearish engulfing pattern but it appears that it is forming a right shoulder of an Inverted Head & Shoulder formation with a neckline being placed at 24,500 which is also immediate resistance while on the lower side, psychological level of 24,000 will serve as a support.
Currency Check | Rupee closes at fresh record low
Indian rupee ended at fresh record closing low at 84.37 per dollar on Thursday versus Wednesday's close of 84.28.
Market Close | Sensex falls 836 pts, Nifty at 24,200; all sectors in the red
Indian benchmark indices ended on a negative note with Nifty at 24,200 on November 7.
At close, the Sensex was down 836.34 points or 1.04 percent at 79,541.79, and the Nifty was down 284.70 points or 1.16 percent at 24,199.30. About 1733 shares advanced, 2057 shares declined, and 93 shares unchanged.
Hindalco Industries, Trent, Shriram Finance, Tech Mahindra and Grasim Industries are among the top losers on the Nifty, while gainers are Apollo Hospitals, HDFC Life, SBI, TCS and L&T.
All the sectoral indices ended in the red with auto, metal, power, telecom, pharma, realty down 1-2 percent.
BSE Midcap and smallcap indices shed 0.5 percent each.
Earnings Watch | AAVAS Financiers Q2 net profit at Rs 148 crore Vs Rs 122 crore, YoY
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| Suzlon Energy | 66.88 | -3.51 | 3.26m |
| ABB India | 6,998.60 | -2.37 | 15.94k |
| AIA Engineering | 3,673.00 | -2.23 | 941 |
| Praj Industries | 712.50 | -2.18 | 26.02k |
| V-Guard Ind | 436.25 | -2.09 | 9.47k |
| Honeywell Autom | 44,357.00 | -1.94 | 148 |
| Carborundum | 1,428.10 | -1.86 | 505 |
| Bharat Forge | 1,445.00 | -1.77 | 14.86k |
| BHEL | 244.00 | -1.61 | 729.85k |
| Grindwell Norto | 2,186.50 | -1.41 | 2.00k |
| SKF India | 5,091.25 | -1.11 | 1.17k |
| Polycab | 6,809.95 | -1.09 | 15.25k |
| GMR Airports | 80.75 | -1.09 | 553.63k |
| Schaeffler Ind | 3,502.95 | -0.88 | 908 |
| KPIL | 1,267.60 | -0.67 | 3.88k |
| Sona BLW | 704.70 | -0.63 | 19.47k |
| Bharat Elec | 300.20 | -0.55 | 1.62m |
| LMW | 16,342.00 | -0.3 | 237 |
| Elgi Equipments | 649.55 | -0.23 | 1.45k |
| CG Power | 725.35 | -0.08 | 189.88k |
Earnings Watch | NCC Q2 net profit at Rs 174.8 crore Vs Rs 86.5 crore, YoY
IPO Check | Niva Bupa Health Insurance IPO subscribed at 0.62 times at 3:15 PM (Day 1)
QIB – 0.78 times
NII - 0.32 times
Retail – 0.61 times
Overall – 0.62 times
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| Glenmark | 1,658.00 | -6.27 | 1.26m |
| Aurobindo Pharm | 1,350.35 | -3.19 | 758.33k |
| Abbott India | 28,341.00 | -2.76 | 29.40k |
| Lupin | 2,113.90 | -2.41 | 934.06k |
| Alkem Lab | 5,719.80 | -2.29 | 430.99k |
| Zydus Life | 975.40 | -1.98 | 1.21m |
| Sun Pharma | 1,792.35 | -1.92 | 1.71m |
| Ipca Labs | 1,560.15 | -1.48 | 132.00k |
| Torrent Pharma | 3,167.15 | -1.33 | 220.37k |
| Cipla | 1,573.90 | -1.26 | 1.36m |
| Natco Pharma | 1,430.10 | -1.18 | 322.67k |
| Dr Reddys Labs | 1,288.20 | -1.07 | 1.38m |
| Dr Lal PathLab | 3,072.80 | -0.89 | 69.39k |
| Laurus Labs | 495.05 | -0.28 | 3.30m |
| Sanofi India | 6,565.10 | -0.19 | 3.50k |
IPO Check | Swiggy IPO subscribed at 0.32 times at 3:10 PM (Day 2)
QIB – 0.25 times
NII - 0.12 times
Retail – 0.80 times
Employee Reserved - 1.10 times
Overall – 0.32 times
Stock Market LIVE Updates | MOIL's October month production at 1.47 lakh tonnes of manganese ore, up 32%, YoY
IPO Check | ACME Solar Holdings IPO subscribed at 0.63 times at 3:05 PM (Day 2)
QIB – 0.31 times
NII - 0.43 times
Retail – 1.90 times
Employee Reserved - 0.92 times
Overall – 0.63 times
IPO Check | Sagility India IPO subscribed at 2.58 times at 3:05 PM (Day 3)
QIB – 2.96 times
NII - 1.14 times
Retail – 3.57 times
Employee Reserved - 3.36 times
Overall – 2.58 times
Markets@3 | Sensex down 800 points, Nifty at 24200
The Sensex was down 809.75 points or 1.01 percent at 79,568.38, and the Nifty was down 279.20 points or 1.14 percent at 24,204.80. About 1547 shares advanced, 1830 shares declined, and 84 shares unchanged.
Earnings Watch | Linde India Q2 net profit at Rs 106 crore vs Rs 109 crore, YoY
Sensex Today | 1.37 million shares of Trent change hands in a block trade: Bloomberg
Earnings Watch | Emami Paper Q2 net profit down 53.6% at Rs 7.6 crore Vs Rs 16.4 crore, YoY
Earnings Watch | Nitin Spinners Q2 net profit up 33% at Rs 42.2 crore Vs Rs 31.7 crore, YoY
Earnings Watch | Gujarat Alkalies Q2 net loss at Rs 18.2 crore Vs loss of Rs 18.4 crore, YoY
Earnings watch | Escorts Kubota Q2 net profit up 54% at Rs 324 crore Vs Rs 210.5 crore, YoY
Earnings Watch | DCM Shriram Q2 net profit up 11.6% at Rs 23 crore Vs Rs 21 crore, YoY
Earnings Watch | Vijaya Diagnostics Q2 net profit up 26.1% at Rs 42 crore Vs Rs 33.3 crore, YoY
Brokerage Call | Morgan Stanley keeps ‘overweight’ rating on JSPL, target at Rs 1,200
#1Consolidated EBITDA above consensus estimates, volumes in-line
#2 Earnings beat led by better realisations
Earnings Watch | Page Industries Q2 net profit up 30% at Rs 195.5 crore Vs Rs 150.3 crore, YoY
Nissan plans 9,000 job cuts, slashes annual profit outlook by 70%
Japan's Nissan Motor on Thursday announced various cost saving measures including 9,000 job cuts and slashed its annual outlook for the second straight time this year, as it continues to battle headwinds in major markets such as China.
The automaker also said it would cut global production capacity by 20%.
Earnings Watch | Prince Pipes & Fittings Q2 net profit slips to Rs 14.7 crore compared to Rs 70.6 crore on-year
Anuj Choudhary, Research Analyst at Sharekhan by BNP Paribas
USDINR CMP: 84.36 (spot)
The Indian Rupee touched fresh record lows again on the back of weak domestic equities and sustained FII outflows. Overnight gains in crude oil prices also weighed on the Rupee. However, softening of the US Dollar index from yesterday’s highs cushioned the downside. Dollar softened on amid strong Chinese trade balance data.
We expect Rupee to trade with a negative bias on overall strength in the US Dollar on the back of Donald Trump’s victory in the US Presidential elections and FII outflows. However, softening of commodity prices amid easing geopolitical risk premium may support the Rupee at lower levels. Any intervention by the RBI may also support the Rupee at lower levels. Traders may take cues from weekly unemployment claims data from the US and FOMC meeting decision today. Bank of England’s monetary policy decision is also due today. BoE and FOMC, both are expected to cut interest rates by 25 bps respectively. USDINR spot price is expected to trade in a range of Rs 84.15 to Rs 84.60.
Earnings Watch | Trent's shares fell over 7% as the company's net profit fell 14% on sequential basis
Earnings Watch | Eureka Forbes reports Q2 net profit at Rs 47.7 crore, as against Rs 25.8 crore in the same quarter last year
Stock Market LIVE Updates | Nomura bullish on Apar Industries, sees 25% upside with price target of Rs 11,700 apiece
Stock Market LIVE Updates | Nomura initiates coverage on CG Power, sees 34% upside with target price of Rs 970 per share
Markets@2 | Sensex down 800 pts, Nifty at 24200
The Sensex was down 806.91 points or 1.00 percent at 79,571.22, and the Nifty was down 275.30 points or 1.12 percent at 24,208.70. About 1577 shares advanced, 1773 shares declined, and 85 shares unchanged.
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| IndusInd Bank | 1,056.10 | -2 | 3.65m |
| ICICI Bank | 1,278.85 | -1.8 | 6.54m |
| Kotak Mahindra | 1,743.70 | -1.07 | 2.29m |
| HDFC Bank | 1,743.05 | -0.7 | 6.43m |
| Bandhan Bank | 182.20 | -0.56 | 3.75m |
| Axis Bank | 1,161.40 | -0.44 | 3.87m |
| RBL Bank | 172.74 | -0.39 | 5.03m |
IPO Check | Niva Bupa Health Insurance IPO subscribed at 0.14 times at 1:55 PM (Day 1)
QIB – 0.07 times
NII - 0.03 times
Retail – 0.53 times
Overall – 0.14 times
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| Magellanic | 89.91 | 2.93 | 266.51k |
| Ramco System | 431.05 | 1.76 | 15.98k |
| C. E. Info Syst | 2,024.10 | 1.66 | 1.33k |
| Netweb | 2,831.40 | 1.29 | 11.34k |
| Happiest Minds | 793.00 | 0.99 | 64.01k |
| Cyient | 1,925.80 | 0.88 | 3.59k |
| Genesys Int | 845.00 | 0.85 | 28.97k |
| Axiscades Tech | 522.30 | 0.75 | 1.42k |
| Expleo Solution | 1,254.75 | 0.74 | 579 |
| Onward Tech | 347.70 | 0.74 | 3.42k |
| Nucleus Softwar | 1,217.75 | 0.62 | 621 |
| Rategain Travel | 836.85 | 0.47 | 11.31k |
| Mastek | 2,965.05 | 0.39 | 4.97k |
| Xchanging Sol | 111.95 | 0.27 | 7.46k |
| Cigniti Tech | 1,411.00 | 0.26 | 2.48k |
| Rashi Periphera | 417.15 | 0.23 | 30.61k |
| TCS | 4,145.85 | 0.17 | 37.07k |
| Wipro | 564.85 | 0.14 | 292.65k |
| COFORGE LTD. | 7,840.20 | 0.05 | 8.34k |
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| Quick Heal Tech | 635.05 | -3.06 | 7.88k |
| Tech Mahindra | 1,647.95 | -2.68 | 27.08k |
| Datamatics Glob | 574.75 | -2.17 | 2.82k |
| D-Link India | 578.55 | -2.08 | 8.50k |
| 63 Moons Tech | 583.70 | -2.06 | 11.12k |
| LTIMindtree | 5,873.95 | -1.97 | 9.54k |
| MphasiS | 2,839.55 | -1.96 | 17.92k |
| InfoBeans Tech | 441.95 | -1.91 | 1.71k |
| Newgen Software | 1,288.30 | -1.91 | 5.39k |
| KPIT Tech | 1,461.00 | -1.75 | 30.57k |
| Control Print | 716.05 | -1.71 | 4.30k |
| L&T Technology | 5,116.55 | -1.65 | 3.12k |
| BLS E-Services | 223.45 | -1.63 | 9.38k |
| Intellect Desig | 776.35 | -1.51 | 13.29k |
| Oracle Fin Serv | 11,403.95 | -1.48 | 1.69k |
| Tanla Platforms | 759.45 | -1.41 | 69.66k |
| Infosys | 1,799.50 | -1.36 | 93.77k |
| R Systems Intl | 500.70 | -1.35 | 14.33k |
| Tata Tech | 1,020.75 | -1.2 | 20.27k |
| Birlasoft | 575.40 | -1.17 | 48.47k |
IPO Check | Swiggy IPO subscribed at 0.25 times at 1:50 PM (Day 2)
QIB – 0.15 times
NII - 0.11 times
Retail – 0.76 times
Employee Reserved - 1.05 times
Overall – 0.25 times
IPO Check | ACME Solar Holdings IPO subscribed at 0.59 times at 1:45 PM (Day 2)
QIB – 0.28 times
NII - 0.40 times
Retail – 1.78 times
Employee Reserved - 0.88 times
Overall – 0.59 times
IPO Check | Sagility India IPO subscribed at 2.01 times at 1:40 PM (Day 3)
QIB – 2.22 times
NII - 0.76 times
Retail – 3.23 times
Employee Reserved - 3.17 times
Overall – 2.01 times
Earnings Watch | Subros Q2 net profit up 35% at Rs 36.4 crore Vs Rs 27 crore, YoY
Earnings Watch | Caplin Point Laboratories Q2 profit at Rs 131 crore versus Rs 115 crore, YoY
Earnings Watch | Bajaj Electricals Q2 net profit down 59% at Rs 13 crore against Rs 32 crore, YoY
Earnings Watch | Shyam Metalics Q2 net profit down 55.3% at Rs 215.7 crore Vs Rs 482 crore, YoY
Earnings Watch | Abbott India Q2 net profit up 15% at Rs 358.6 crore Vs Rs 313 crore, YoY
Earnings Watch | Clean Science Q2 net profit up 12.7% at Rs 58.7 crore Vs Rs 52.1 crore, YoY
