Sensex, Nifty end flat as investors on edge ahead of Q2 earnings season

Catch all that happened in the market today

3:45 PM

Market rundown by Vinod Nair, Head of Research at Geojit Financial Services 

 

Market is facing resistance around 10k mark as participants are waiting on the sideline and awaiting earnings season for more clarity on direction. Earnings growth for the second quarter is likely to be subdued but on a QoQ basis it will be better. Sectors like Finance, Metals, Mining, Infra, Defence and Chemical are expecting some pick up which could limit a sharp cut in earnings forecast for FY18.

3:43 PM

Realty shares in focus

 

Shares of realty companies have rallied by up to 20% on the BSE in intra-day trade after the real estate developer Sobha reported a good set of new sales volumes in July-September 2017 quarter (Q2FY18).

 

Besides Sobha, Purvankara, Ajmera Realty & Infra India and Marathon Nextgen have surged between 12% and 19% on the BSE. Kolte-Patil Developers, Anant Raj Industries, Prestige Estates and Delta Corp, Simplex Realty were up in the range of 3% to 4%.

3:41 PM

FMCG index gains

Source: NSE

3:39 PM

Sectoral Trend: Realty and FMCG indices led the gains

Source: NSE

3:37 PM

Top gainers and losers on BSE Sensex

Source: BSE

3:34 PM

Broader Markets

In broader markets, BSE midcap index was a little changed (down 0.04%) while the BSE Smallcap index outperformed the frontline indices, up 0.6% 

3:32 PM

Markets at Close

In a choppy session, benchmark indices end flat but continued a steady recovery from recent losses, with consumer sector leading the way, but gains were capped as corporate results kick off later this week.

The S&P BSE Sensex settled the day at 31,846, up 32 points while the Nifty50 index ended at 9,989, up 9 points

3:19 PM

Dwarikesh Sugar expects sales to rise

Dwarikesh Sugar Industries expects sales to rise by up to 15 percent in the 2017/18 crop year as production in Uttar Pradesh could jump to a record high, a top company executive said on Monday.

 

Farmers in the country's top sugar producing state where the company has its operations, have adopted an early-maturing cane variety that has boosted productivity, said Vijay Banka, the chief financial officer of the company.

3:09 PM

USFDA Nod

Marksans Pharma share price rallied 8% in intraday on receipt of establishments inspection report for Goa plant.

 

The Mumbai-based pharma company informed exchanges that it has received establishments inspection report from the US Food and Drug Administration for Goa facility.

 

2:55 PM

BUZZING STOCK

Jaiprakash Associates rose as much as 3.8% after the company approved transfer of certain assets and liabilities to unit Jaypee Infrastructure Development.

2:39 PM

Note ban, GST made career's last year most eventful: Arundhati Bhattacharya

 

Arundhati Bhattacharya, who recently retired as the chairman of State Bank of India, the country’s largest bank, believes the problem of bad loans banks have been facing would be solved shortly. “I regret not seeing the end of the NPA (non-performing asset) story,” she says.

 

In an interview published in the Times of India on Monday, Bhattacharya, who served at the helm of SBI for four years, spoke on a range of issues – from NPAs to her winning mantra and her experiences as the first woman head of SBI. Click Here for are the highlights of her interview

Arundhati Bhattacharya, Illustration: Ajay Mohanty

2:18 PM

These 15 stocks from BSE Smallcap index surge over 25% in 5 trading days

 

TVS Electronics, HEG, Ramky Infrastructure, Graphite India, Gujarat Alkalies & Chemicals, Arshiya and Gujarat Narmada Valley Fertilizers & Chemicals (GNFC) are among 15 stocks from the S&P BSE Smallcap index, which rallied more than 25% in first five trading days of the current month.

 

Thus far in the month of October, the S&P BSE Smallcap index has outperformed the market by gaining 3.6% as compared to 2.5% rise in the S&P BSE Midcap and 1.7% gain in the benchmark S&P BSE Sensex. READ MORE

2:00 PM

Market Check

Benchmark indices were trading marginally higher in the afternoon deals as investors stayed on edge ahead of September-quarter earnings season.

 

At 2:00 pm, the S&P BSE Sensex was trading at 31,902, up 88 points, while the broader Nifty50 was ruling at 9,995, up 16 points.

1:44 PM

Sobha surges 9% on September-quarter sales volumes

Sobha surged 9% to Rs 426 on the BSE in intra-day trade after the company said that it achieved new sales value of Rs 593 crore in July- September quarter (Q2FY18) was the highest in the past 10 quarters. The real estate developer had reported sales value of Rs 518 crore in the same quarter last fiscal.

 

“The company achieved new sales volumes of 861,084 square feet total valued at Rs 675 crore with an average realisation of Rs 7,840 per square feet in second quarter. Sales volume is marginally higher and total sales value is up by 22.5% as compared to Q2FY17,” Sobha said in an exchange filing.

1:29 PM

Gold Bonds in Focus

The government on Friday announced several changes that would increase the attractiveness of sovereign gold bonds.

 

The most important change is that these bonds will now virtually be available on tap, as the issue that opened on Monday will remain open until December 27. However, the long-tenure issue will see the setting of price on a weekly basis.

Click here for 5 reasons to invest in gold bonds