MARKET WRAP: Sensex slips 229 pts ahead of CPI inflation nos; banks tumble

All that happened in markets today.

Disappointing IIP figures for September, cautiousness ahead of the release of CPI inflation data for October and growing worries over US-China trade deal talks sent the benchmark indices over half a per cent lower on Wednesday. Besides, CLSA's statement that India's GDP may slip to 5 per cent in FY20, too, added to the investors' woes. READ MORE
 

The S&P BSE Sensex slid 229 points or 0.57 per cent to end at 40,116 levels while NSE's Nifty50 index slipped below 11,850-mark to end at 11,840, down 73 points or 0.61 per cent.

IT major TCS (up around 4 per cent) emerged as the top gainer on the Sensex while YES Bank (down over 6.50 per cent) was the biggest loser. ICICI Bank, Axis Bank, Infosys, ITC, and SBI were the top contributors to the index's fall. 

Sectorally, all the indices on the NSE ended in the red. Media stocks bled the most with the Nifty Media index slipping over 4.53 per cent to 1,793.85 levels. Metal stocks came second on the list.

In the broader market, the S&P BSE MidCap index lost 0.77 per cent to end at 14,660 levels while the S&P BSE SmallCap index closed at 13,344.69, down 153 points or 1.13 per cent. 

BUZZING STOCKS

Shares of Indian Hotels Company soared 6 per cent to Rs 156 on the BSE on Wednesday after the company reported EBITDA (earnings before interest, tax, depreciation and amortisation) margin improvement of 590 basis points (bps) at 17.7 per cent in September quarter (Q2FY20). EBITDA jumped 57 per cent year-on-year (YoY) to Rs 182 crore during the quarter. Both absolute EBITDA and EBITDA margin was highest in the last 10 years. READ MORE

Britannia Industries stock surged nearly 6 per cent to Rs 3,298 apiece on the BSE on Wednesday after the company on Monday posted a profit before tax (PBT) of Rs 498 crore for the second quarter ended September 30, 2019 (Q2FY19), up 8.5 per cent when compared with the corresponding period of the previous fiscal. The stock ended around 5 per cent higher at Rs 3,270.25 on the BSE.  READ MORE 

GLOBAL MARKETS 

Asian stocks and Wall Street futures fell on Wednesday, as confusing signals over the extent of progress made in US-China trade talks and concern about intensifying unrest in Hong Kong hurt demand for risky assets. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.03 per cent to the lowest in more than a week. Hong Kong shares slumped 2 per cent to a four-week low, battered by fears that anti-government protests appear to be spiralling out of control.

Chinese shares fell 0.18 per cent, while Japanese shares fell 0.76 per cent.

The pan-region Euro Stoxx 50 futures were down 0.57 per cent, German DAX futures were off 0.58 per cent, and FTSE futures fell 0.54 per cent.

In commodities, oil prices slipped as US-China trade deal prospects dimmed.  

(With inputs from Reuters)

 

 

3:55 PM

Sectoral gainers and losers on the NSE

3:55 PM

Top gainers and losers on the S&P BSE Sensex

3:51 PM

CLOSING BELL

The S&P BSE Sensex slipped 229 points or 0.57 per cent to end at 40,116.06 while NSE's Nifty50 index ended at 11,840.45, down 73 points or 0.61 per cent. 

 

3:31 PM

Sobha hits 52-week low on disappointing Q2 results

In Q2FY20, the real estate developer’s profit before tax (PBT) grew in single digit by 4 per cent to Rs 187 crore over the previous year quarter. EBITDA (earnings before interest, tax, depreciation and amortisation) margin remained unchanged at 23 per cent. Operational revenue increased by 19 per cent to Rs 784 crore on year-on-year (YoY) basis. READ MORE  

3:22 PM

Rupee Check | Re at day's low

3:08 PM

NEWS ALERT | KEC Int'l bags orders worth Rs 2,255 crore

3:06 PM

MARKET CHECK | Sensex recovers from day's low

2:58 PM

MARKET CHECK | Sensex extends decline, drops over 250 pts

2:55 PM

BUZZING STOCK | Morepen Labs slips 6% post Q2 nos

2:53 PM

EARNINGS ALERT | Kaveri Seed Co Q2 net profit slips nearly 13%

Tax expense at Rs 2.3 cr Vs Rs 5.5 cr (YoY)

2:42 PM

BROKERAGE RADAR | Anand Rathi on HG Infra Engineering

Given the steep ask in H2, we?ve slightly lowered our FY20e revenues ~4% (FY21:~0.5%). But, accounting for the to the newer tax regime, FY20e and FY21e earnings stand raised ~9% and ~17% respectively. At the ruling price, (excl. investments) the stock trades at PER of 6.2x FY20e and 5.2x FY21e. Risk. Any slower-than-expected pace of execution. 

2:35 PM

Market check | Sudden slide in Sensex

2:30 PM

Earnings Alert | Adani Green Q2

-- Cons net profit at Rs 102.3 cr

-- Cons revenue at Rs 689 cr

2:29 PM

India's passive funds set to beat active peers for second straight year

Active funds have historically outperformed passive funds in India when share price moves were more broad-based and market inefficiencies helped stock pickers as they hunted for shares whose prices were not truly reflective of their worth.

 

But India's stock market rally has been much narrower in the past two years, with investors preferring some well-established heavyweights over smaller ones owing to broader uncertainties around a slowing domestic economy and the U.S.-China trade war. READ REPORT HERE

2:21 PM

AU Small Finance Bank hits new high, gains 14% in two days

Trading volumes on the counter jumped nearly 10-fold today, with 308,000 equity shares changing hands on the BSE till 01:32 pm. Around 193,233 shares, representing 0.07 per cent of total equity of the bank, changed hands at 09:59 am in a single deal, the exchange data shows. READ MORE