Sensex ends 100 pts higher, Nifty above 10,200 ahead of Infosys results

All that happened in the market today

Benchmark indices ended higher with Nifty50 trading above the 10,200- mark and Sensex up over 100 points ahead of October F&O expiry and Infosys results.

Infosys, the country's second-largest software services firm, is scheduled to report its September quarter numbers today post market hours. Analysts, at large, believe that more than the Q2 numbers, the management commentary will remain in focus as an update on the company's strategic preferences is crucial at this juncture. 

The quarter holds significance as this will be the first result announcement after co-founder Nandan Nilekani took charge as the company's new non-executive chairman after the sudden resignation of then CEO Vishal Sikka and the exit of four board members, including then chairman R Seshasayee. 

The global giant is also likely to name its next chief executive officer today. Finding a CEO was among the key tasks taken up by co-founder and Chairman Nandan Nilekani when he took charge in August. 

Globally, Asian shares held within striking distance of recent decade highs on Tuesday even as Wall Street fell from record levels, while currencies kept to narrow ranges ahead of key economic events.

3:41 PM

Top Sensex gainers and losers

Source: BSE

3:35 PM

Broader Markets

In broader markets, BSE Midcap index gained 0.2% and BSE Smallcap index was up 0.5%

3:33 PM

Markets at close

The benchmark indices settled the day higher ahead of Infosys earnings and October F&O expiry with Nifty50 ending above 10,200.

The S&P BSE Sensex ended at 32,607, up 100 points and the broader Nifty50 ended at 10,207, up 22 points

3:19 PM

BUZZING STOCK

Panacea Biotec surged 15% to Rs 276, also its 52-week high on the BSE, after the company announced the launch of Prasugrel tablets in US market.

 

The company said that its first-to-file Abbreviated. New Drug Application (ANDA) of Prasugrel 5mg and 10mg tablets have been approved by the United States Food & Drug Administration (USFDA).

3:07 PM

Asian Paints Q2

 

Consolidated PAT at Rs 578 crore

 

Consolidated revenue at Rs 4,274 crore

Earnings Impact

 

3:00 PM

Market Check at 3

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	32,602.86	+96.14	+0.30
S&P BSE SENSEX 50	10,591.47	+28.10	+0.27
S&P BSE SENSEX Next 50	34,948.31	+17.61	+0.05
S&P BSE 100	10,609.88	+24.44	+0.23
S&P BSE MidCap	16,178.07	+30.10	+0.19

2:50 PM

Buzzing Stock

Automotive Stampings & Assemblies fell 2.75% to Rs 86.70 at 13:58 IST on BSE after the company reported net loss of Rs 14.24 crore in Q2 September 2017, higher than net loss of Rs 4.44 crore in Q2 September 2016.

2:36 PM

Top Sensex gainers and losers

Source: BSE

2:17 PM

IT sector falls before Infosys results

Source: NSE

2:04 PM

Listing

 

State-owned General Insurance Corporation of India will make stock market debut tomorrow after having concluded the Rs 11,370-crore initial public offer (IPO).

 

GIC Re's IPO was oversubscribed 1.38 times during October 11-13.

 

The reinsurance company had fixed the price band at Rs 855-912 for its IPO.

1:45 PM

BUZZING STOCK

Zee Entertainment Enterprises rose 4.79% to Rs 516.45 at 12:59 IST on BSE after consolidated net profit jumped 148% to Rs 591.20 crore on 6.7% decline in operating revenue to Rs 1582.10 crore in Q2 2017 (YoY)

1:33 PM

Europe check

 

European markets opened slightly lower, as investors continued to monitor the latest corporate earnings reports and kept a close eye on Spain's constitutional crisis.

 

The pan-European Stoxx 600 edged 0.1% lower shortly after the opening bell with almost all sectors and major bourses in negative territory.

1:18 PM

PSBs in focus

 

Shares of public sector banks (PSBs) were in focus with Andhra Bank, Syndicate Bank and Punjab National Bank (PNB) rallying over 5% each on the National Stock Exchange (NSE) amid reports that the government may announce capital infusion plan for the state-run banks.

 

State Bank of India (SBI), Bank of Baroda, Bank of India, Central Bank of India, Oriental Bank of Commerce, IDBI Bank and Union Bank of India were up in the range of 3% to 4%. Real full report here

1:04 PM

Markets at 1pm

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	32,596.62	+89.90	+0.28
S&P BSE SENSEX 50	10,597.49	+34.12	+0.32
S&P BSE SENSEX Next 50	35,001.04	+70.34	+0.20
S&P BSE 100	10,617.54	+32.10	+0.30
S&P BSE MidCap	16,179.73	+31.76	+0.20

(Source: BSE)

12:47 PM

Economy watch

The back-ended redemption of state Development Loans (SDLs) and the possible funding of crop loan waivers by some states in H2 FY2018, could result in a rise in the gross market borrowings of the state governments to Rs. 3.0-3.2 lakh crore in H2 FY2018 from Rs. 1.8 lakh crore in H1 FY2018, in ICRA’s view. As a result, total SDL borrowings in FY2018 could be in the range of Rs. 4.8–5.0 lakh crore, higher than ICRA’s initial baseline estimate of Rs. 4.5 lakh crore