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.

All the sectoral indices ended in the red with auto, metal, power, telecom, pharma, realty down 1-2 percent....Read More

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

Earnings Watch | NCC Q2 net profit at Rs 174.8 crore Vs Rs 86.5 crore, YoY

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Stock Market LIVE Updates | MOIL's October month production at 1.47 lakh tonnes of manganese ore, up 32%, YoY

About 13.7 lakh shares of Trent Ltd, representing a 0.4 percent equity stake in the company were traded in a block deal on Thursday for Rs 881.7 crore. ...Read More

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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%.

Read More

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.

Read More

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

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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

Stock Market LIVE Updates | Shriram Finance shares trade ex-dividend

Earnings Watch | Kansai Nerolac shares fall 2% post Q2 consolidated profit falls 32%

#1 Profit plunges 31.8 percent to Rs 120 crore Vs Rs 175.5 crore, YoY

#2 Revenue falls 0.3 percent to Rs 1,951.4 crore Vs Rs 1,956.5 crore, YoY

Earnings Watch | Indigo Paints Q2 net profit down 10.7% at Rs 22.6 crore Vs Rs 25.3 crore, YoY

Earnings Watch | AkzoNobel Q2 net profit up 4.3% at Rs 98 crore Vs Rs 94 crore, YoY

SBI is expected to register healthy 10 percent YoY growth in net interest income (NII) to Rs 43,464 crore in Q2FY25...Read More

Global Markets | Asian markets end mostly higher; Shanghai Composite up 2%

Stock Market LIVE Updates | Tata Power and Noida International Airport partner for solar and wind power

The sharp surge Chambal Fertiliser's the bottomline in Q2 was aided by a significant improvement in operational performance. ...Read More

Brokerage Call | Morgan Stanley retains ‘overweight’ call on Tata Steel, target at Rs 175

#1 Strong beat on consolidated EBITDA

#2 Company saw better-than¬ expected performance in domestic & other businesses

#3 Key to watch will be guidance on domestic & international business demand

#4 Will look for management’s commentary on spreads trajectory for H2FY25

Earnings Watch | lembic Pharma Q2 net profit up 12.3% at Rs 153.4 crore Vs Rs 136.6 crore, YoY

Markets@1 | Sensex falls 746 points, Nifty above 24200

The Sensex was down 746.53 points or 0.93 percent at 79,631.60, and the Nifty was down 261.70 points or 1.07 percent at 24,222.30.

Analysts noted that JLR is expected to face supply chain obstacles during the quarter, resulting in a decline in volumes. ...Read More

Earnings Watch | Kirloskar Ferrous shares fall after Q2 consolidated profit declines

#1 Profit declines 5 percent to Rs 77.6 crore Vs Rs 81.7 crore, YoY

#2 Revenue increases 6.8 percent to Rs 1,666 crore Vs Rs 1,559.7 crore, YoY

Earnings Watch | Delta Corp shares trade lower as Q2 consolidated profit falls 61%

#1 Profit plunges 61.1 percent to Rs 27 crore Vs Rs 69.4 crore, YoY

#2 Revenue falls 28.1 percent to Rs 187.7 crore Vs Rs 261.1 crore, YoY

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Stock Market LIVE Updates | Ajmera Realty’s Bengaluru project launch sees strong festive sales, Books 37% in Diwali week

Ajmera Realty & Infra India Ltd (ARIIL) launched residential project – Ajmera Iris in Electronic, City Phase 2, Bengaluru. ARIIL sold 59,000 sq. ft. out of 1,58,859 sq. ft in the project for value of Rs 60 crore. These sales represent about 37% of the ARIIL’s inventory sold, achieved within a week of its launch following RERA registration.

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Earnings Watch | Venkys Q2 net profit down 77.1% at Rs 7.8 crore Vs Rs 34 crore, YoY

Stock Market LIVE Updates | Paras Defence bags order of Rs 61.43 crore from Ministry of Defence

Paras Defence and Space Technologies has received an order from Instruments Research and Development Establishment (IRDE), Ministry of Defence,

Government of India, Dehradun, valued at approximately Rs 61.43 crore.

Nomura said that India's power transmission sector is ready for significant growth, driven by surging electricity demand and ambitious renewable energy capacity addition targets....Read More

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Sensex, Nifty fell over a percent each in Thursday's trade, as the investors moved on the sidelines ahead of the US Federal Reserve's interest rate decision tonight....Read More

Earnings Watch | Blue Star shares fall despite Q2 consolidated profit jumps 35%

#1 Profit jumps 35.7 percent to Rs 96.1 crore Vs Rs 70.8 crore, YoY

#2 Revenue increases 20.4 percent to Rs 2,276 crore Vs Rs 1,890.4 crore, YoY

Earnings Watch | Sonata Software shares trade lower post Q2 earnings

#1 Profit increases 0.8 percent to Rs 106.5 crore Vs Rs 105.6 crore, QoQ

#2 Revenue falls 14.1 percent to Rs 2,169.8 crore Vs Rs 2,527.4 crore, QoQ

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Earnings Watch | Endurance Technologies shares trade higher after Q2 consolidated profit jumps 31%

#1 Profit zooms 31.3 percent to Rs 203 crore Vs Rs 154.6 crore, YoY

#2 Revenue increases 14.4 percent to Rs 2,912.7 crore Vs Rs 2,545 crore, YoY

Earnings Watch | Usha Martin shares gains 2% post Q2 results

#1 Profit falls 0.2 percent to Rs 109.3 crore Vs Rs 109.5 crore, YoY

#2 Revenue grows 13.6 percent to Rs 891.2 crore Vs Rs 784.7 crore, YoY

Stock Market LIVE Updates | Symphony shares trade ex-dividend

Stock Market LIVE Updates | Swan Energy shares gain most in eight months with higher volumes

Stock Market LIVE Updates | Share India Securities shares trade ex-dividend

Stock Market LIVE Updates | Nuvama Wealth Management shares trade ex-dividend

Brokerage Call | Jefferies maintains ‘buy’ rating on Hindalco, target price at Rs 800

#1 Novelis’ Q2 EBITDA fell 5 percent YoY, 3 percent below our estimate

#2 Volumes of Novelis grew 1 percent YoY, but EBITDA/tonne fell 7 percent QoQ

#3 Novelis expects further margin pressure in H2& suspended near-term margin guidance

#4 Recycling profitability of Novelis affected by a sharp rise in scrap prices

#5 Demand outlook positive for cans & improving for construction, but weakened for autos

Earnings Watch | Trent reports Q2 net profit at Rs 423 crore

Earnings Watch | India Pesticides shares gain nearly 3% post Q2 consolidated profit rises 33%

#1 Profit zooms 32.9 percent to Rs 25.9 crore Vs Rs 19.5 crore, YoY

#2 Revenue grows 13.3 percent to Rs 228.8 crore Vs Rs 202 crore, YoY

Stock Market LIVE Updates | BL Kashyap secures new order of Rs 250 crore from Anant Raj

Earnings Watch | Gujarat Gas shares trade higher despite Q2 standalone profit down marginally

#1 Profit falls 6.92 percent to Rs 307 crore Vs Rs 329.8 crore, QoQ

#2 Revenue declines 15 percent to Rs 3,781.8 crore Vs Rs 4,450.3 crore, QoQ

#3 EBITDA drops 4 percent to Rs 514.2 crore Vs Rs 535.6 crore, QoQ

#4 Margin expands 160 bps to 13.6 percent Vs 12 percent, QoQ

Results Today | Aditya Birla Fashion, RVNL, SAIL, Trent, among others to announce earnings today

Lupin, Alembic Pharmaceuticals, Escorts Kubota, Indian Hotels, NHPC, Aavas Financiers, Abbott India, Aditya Birla Fashion and Retail, Astral, Bajaj Electricals, Cochin Shipyard, Cummins India, Emami, Emcure Pharmaceuticals, Innova Captab, IRCON International, ITD Cementation, NCC, Page Industries, Rail Vikas Nigam, SAIL, Baazar Style Retail, Trent, Vijaya Diagnostic Centre, and Va Tech Wabag will announce September quarter earnings on November 7.

Earnings Watch | Mahindra and Mahindra Q2 net profit at Rs 3,841 crore

Currency Check | Rupee at fresh record low of 84.35

Stock Market LIVE Updates | Aurionpro Solutions secures contract for Chennai Metro Phase II automated fare collection system

Earnings Watch | Chambal Fertilisers shares gain 5% post Q2 consolidated profit jumps 41%

#1 Profit surges 40.8 percent to Rs 536.4 crore Vs Rs 381 crore, YoY

#2 Revenue falls 19.3 percent to Rs 4,346.2 crore Vs Rs 5,385.5 crore, YoY

#3 EBITDA zooms 28.5 percent to Rs 790.2 crore Vs Rs 615 crore, YoY

#4 Margin expands 680 bps to 18.2 percent Vs 11.4 percent, YoY