Sensex ends 91 points lower, Nifty below 10,200 on inflation concerns

All that happened in today's trade

The benchmark indices took a breather on Tuesday as the possibility of the Reserve Bank of India (RBI) cutting interest rates next month was further dampened after key inflation indicators inched up in October. 

The consumers price index (CPI)-based inflation came in at 3.58% for October, its seven-month high, while wholesale price index (WPI)-based inflation stood at 3.59%, its six-month high. 

"Given higher oil prices, likely above-4 per cent inflation in coming quarters and risks of a fiscal slippage, we expect the RBI to stay on hold through 2018, including at the December 6 policy meeting," Nomura said in a research note.

Overseas, Asian markets put in a subdued performance as Chinese economic data disappointed and investors pondered whether a marked flattening in the US yield curve might be a harbinger of a future slowdown there. European markets, meanwhile, recovered from a seven-week low hit in the previous session.

3:45 PM

All but two sectors ended in red 

Source: NSE

3:41 PM

Broader markets 

Broader markets mirrored the gains in the frontile indices with the BSE Midcap and the BSE Smallcap indices losing 0.2% each. 

3:38 PM

Sensex heatmap at close 

Source: BSE

3:35 PM

Markets at close

The S&P BSE Sensex ended at 32,941, down 91 points, while the broader Nifty50 closed at 10,186, down 38 points.

3:17 PM

Buzzing stocks

Vakrangee, Balkrishna Industries, VIP Industries, Graphite India, HEG, Minda Industries, Sterling Tools and Gulf Oil Lubricants were among 15 stocks from the S&P BSE500 and S&P BSE Smallcap index that hit their respective new highs on the BSE in intra-day trade. READ MORE

3:10 PM

European markets

Encouraging earnings from telecoms companies put European shares on the front foot on Tuesday, helping them recover from a seven-week low hit in the previous session.

 

The pan-European STOXX 600 was up 0.2 per cent, also helped by gains in British retailer Tesco after the UK regulator approved its $4.9 billion takeover of wholesaler Booker.

3:06 PM

Centrum Broking on SBI 

 

We retain Buy on State Bank of India (SBIN) with SOTP-based TP revised upwards to Rs370. Q2FY18 results were on lower side to our estimates on revenue / profitability front. We however draw comfort in a) lower than expected slippages (2.4% in Q2’18 vs 6.7% in Q1’18) and b) ~430bps QoQ rise in PCR to 65.1%. Merged entity is on a strong footing with healthy CAR (13.9%); watchlist portfolio at 1.2% of loans (vs 1.4% QoQ) and well contained asset quality. Valuations remain attractive. Continue to prefer SBIN in the PSU space.

3:00 PM

Kalpataru Power advances after good Q2 result

 

Kalpataru Power Transmission rose 3.65% to Rs 392 on BSE after net profit rose 23.66% to Rs 71.49 crore on 9.45% rise in total income to Rs 1237.52 crore in Q2 September 2017 over Q2 September 2016.

 

2:41 PM

Markets turn flat

At 2:40 pm, the S&P BSE Sensex was trading at 33,044, up 11 points, while the broader Nifty50 was ruling at 10,218, down 6 points.

2:25 PM

Experts see RBI keeping rates unchanged in December

 

Stronger food and fuel inflation pushed up headline CPI inflation to a seven-month high in October and accordingly, the Reserve Bank is expected to stay on hold in its upcoming policy review meet next month, a majority of experts believe. READ FULL REPORT

2:09 PM

Sectoral trend in noon deals

Source: NSE

1:54 PM

JM Financial on SpiceJet

 

Spicejet reported EBITDAR of Rs 500 crore, broadly in-line with JMfe of Rs 520 crore. EBITDAR increased 21% YoY, driven by high pax growth. The company reported a PAT of Rs 100 crore in 2QFY18. The medium term fleet addition for SpiceJet remains limited. However, aggressive utilisation levels – PLF @90%+ backed by tactical pricing & ancillary revenue focus, continues to augur well for revenue maximisation. Industry high load factors, cost rationalisation by the new management, coupled with lower ATF prices have helped turn around the loss-making airline – delivering profits for almost three years in a row. SpiceJet’s strong regional presence places it favourably to avail benefits of the UDAN scheme. In accordance of the Division bench order relating to a dispute with the erstwhile promoters, the company has provided a bank guarantee of Rs 330 crore and deposited Rs 250 crore with the registrar. This impending arbitration remains an overhang on the name. Maintain BUY.

1:39 PM

Buzzing stocks

Three stocks from the Anil Ambani controlled Reliance Group companies – Reliance Communications (RCom), Reliance Home Finance and Reliance Nippon Life Asset Management  – have hit their respective new lows and Reliance Naval and Engineering hit 52-week low on the BSE in intra-day trade. READ FULL REPORT 

1:16 PM

Bharti sells stake in Bharti Infratel

 

Bharti Airtel on Tuesday said it had offloaded 83 million shares in subsidiary Bharti Infratel for Rs 3,325 crore through secondary share sale in the stock market. READ MORE

 

1:03 PM

Market Check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	32,954.87	-78.69	-0.24
S&P BSE SENSEX 50	10,616.56	-38.84	-0.36
S&P BSE SENSEX Next 50	35,198.66	-82.81	-0.23
S&P BSE 100	10,643.31	-36.68	-0.34
S&P BSE Bharat 22 Index	3,720.94	-30.87	-0.82