Market at Close
It’s a green close for the market on Tuesday, with the Nifty ending well above 10,650-mark.
A rally among PSU banks, energy names as well as IT boosted the market. In the broader market, the Nifty Midcap index ended over half a percent higher.
At the close of market hours, the Sensex ended up 159.06 points or 0.45% at 35513.14, while the Nifty was higher by 57.00 points or 0.54% at 10685.60. The market breadth was narrow as 1238 shares advanced, against a decline of 1320 shares, while 161 shares were unchanged.
Infosys, TCS, and BPCL were the top gainers, while Sun Pharma and Hero MotoCorp lost the most.
PNB gains 2%
:Punjab National Bank shares gained 2.5 percent after the lender expects Rs 2,500 crore recovery from Essar Steel resolution.
Moody's has downgradedYes Bank's ratings and changed outlook to negative, reported CNBC-TV18.
Buzzing
:63 Moons Technologies shares declined nearly 4 percent after the company sold major stake in its subsidiary to Japanese firm.
Zydus Cadila gets USFDA approval:
Zydus Cadila has received the final approval from the USFDA to market Baclofen Tablets, 10 mg and 20 mg. It will be manufactured at the group’s formulations manufacturing facility at Baddi.
Monte Carlo Fashions buyback:
A meeting of the Board of Directors of the company is scheduled to be held on November 30 to consider and approve the buyback of fully paid-up equity shares of the company.
Lupin gets EIR from USFDA:
The company has received EIR (Establishment Inspection Report) on the completion of an inspection by the USFDA (United States Food & DrugAdministration) at its facility in Tarapur, Maharashtra.
MARKET UPDATE
| At 13:40 hrs IST, the Sensex is up 92.02 points or 0.26% at 35446.10, and the Nifty up 30.90 points or 0.29% at 10659.50. The market breadth is negative as 1111 shares advanced, against a decline of 1229 shares, while 124 shares were unchanged.
MARKET OUTLOOK |
Global investment firm HSBC raised India rating to neutral from underweight as the key is investors' holdings are very low.
"Valuations are more reasonable & we see continued strong earnings growth in 2019," the research house said, adding the lower oil prices for now are supportive of Indian equities.
Oil prices fell more than 30 percent to trade around $60 a barrel in last more than a month, after rising over 40 percent to above $86 (on October 3, 2018), the highest level seen since November 2014.
JUST IN |
63 Moons has executed 55 percent stake sale in its arm ATOM to NTT Data Corp for USD 9.24 million
Rupee Update
:It is trading marginally lower by 4paiseat 70.91 per dollar versus previous close 70.87.
USFDA approves ANDA filed by Granules
Pharma: The US Food & Drug Administration (US FDA) has approved the Abbreviated New Drug Application (ANDA) filed by Granules Pharmaceuticals, Inc., subsidiary of Granules India Limited, through its US agent First Time US Generics LLC, for Methylphenidate Hydrochloride Extended-Release Tablets USP, 10 mg and 20 mg.
Top gainers and losers on the Sensex:
JUST IN |
Alembic Pharmaceuticals has received approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Temazepam Capsules USP 7.5mg, 15mg, 22.5mg and 40mg.
Deutsche Bank of Siemens:
shares fell half a percent in morning on Tuesday after global investment firm Deutsche Bank slashed price target to Rs 1,120 from Rs 1,130 earlier.
The research house also reduced its EPS estimates by 2/5 percent for FY19/FY20 as power and transmission & distribution segments growth should slow.
Jet Airways salary payment:
PTI reported that Jet Airways will pay the remaining 25 percent September salary to its senior staff early next month and is likely to come out with a revised payment schedule soon, a source at the airline said.
BUZZING STOCK |
Shares of Suzlon Energy rose more than 2 percent in the early trade on Tuesday after company completed sale of its subsidiary company. The company executed share purchase and shareholders' agreement with CLP Wind Farms (India) and Tornado Solarfarms, subsidiary of the company for sale of 100 percent stake in its subsidiary company to CLP Wind Farms.
JUST IN |
IIFL Securities has acquired 15 percent stake in Trendlyne
Sun Pharma rises after acquisition
Shares of Sun Pharma are up over a percent after it
decided to acquire a Japanese firm for derma products.Unichem Labs surges
Shares of Unichem Laboratories have risen over 10 percent as US FDA cleared its Mumbai unit. Here is a look at its intraday chart.
Market open
It is a flat start for the market on Tuesday morning, with the Nifty holding 10,600.
Among sectors, IT and pharma are trading in the green, while metals have continued to be weak. The Nifty Midcap index is trading flat.
The Sensex is up 6.72 points or 0.02% at 35360.80, while the Nifty is lower by 8.90 points or 0.08% at 10619.70. The market breadth is positive as 282 shares advanced, against a decline of 135 shares, while 38 shares were unchanged.
Yes Bank and Sun Pharma are the top gainers, while Vedanta, SBI, and JSW Steel have lost the most.
Rupee Opens
The Indian rupee opened flat at 70.89 per dollaron Tuesday versus previous close 70.87.
Market at pre-open:
Benchmark indices are trading higher in the pre-opening session with Nifty is around 10,650 level.
At 09:01 hrs IST, the Sensex is up 92.65 points or 0.26% at 35446.73, and the Nifty up 20.90 points or 0.20% at 10649.50.
Yes Bank, Sun Pharma gained more than 4 percent.
Crude Update:
Oil markets opened cautiously on Tuesday, with many traders reluctant to take on large new positions ahead of theG20gathering in Argentina this weekend and the OPEC meeting in Austria next week.
Asian markets trade mixed:
Asian shares battled to extend a global rebound on Tuesday after US President Donald Trump seemed to quash hopes of a trade truce with China, dampening risk appetite across the region.
SGX Nifty
Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 57 points or 0.54 percent. Nifty futures were trading around 10,590-level on the Singaporean Exchange.
US markets end higher
: Wall Street bounced back on Monday as bargain hunters returned in force after last week's sell-off and expectations of a flurry of holiday cyber-spending drove up shares of retailers.
Good morning and welcome to the live coverage of all the action from D-Street. Stay tuned to this blog for all live updates from the market inIndia and around the world.
