Sensex ends 181 points lower, Nifty settles below 10,150; metal stocks dive

All the happened in the market here

Benchmark indices ended lower on Wednesday tracking weaker Asian markets, weighed down by the consumer, metal and pharma stocks. 

Globally, Asian stocks stumbled after weaker crude oil prices took a toll on Wall Street, while the euro kept big gains after enjoying a boost from robust German economic growth.

Oil prices fell over 1% on Wednesday, after the International Energy Agency cast doubts over the past few months’ narrative of tightening fuel markets. On the supply side, rising US output also pressured prices.

Back home, trade deficit widened to $14.02 billion in October 2017 as against $11.13 billion in October 2016. Export declined by 1.12 per cent to $23 billion during the month under review, retreating from a six-month high growth in September as shipments of textiles, pharmaceuticals, leather and gems and jewellery fell, official data showed.

3:44 PM

Nifty Chart for the day

Source: NSE

3:42 PM

Nifty Metal index tanked

Source: NSE

3:40 PM

Sectoral Trend

Source: NSE

3:38 PM

Top Sensex gainers and losers

Source: BSE

3:36 PM

Broader Markets

Broader markets underperformed benchmark indices with BSE Midcap and BSE smallcap down 1% and 1.5% respectively

3:33 PM

Markets at Close

S&P BSE Sensex ended at 32,760, down 181 points while the broader Nifty50 index settled at 10,118, down 68 points

3:20 PM

ADAG stocks dive 

Anil Ambani-controlled Reliance Group companies (ADAG) remained under pressure by falling up to 15% on the BSE in intra-day trade.

 

Reliance Communications (RCom), Reliance Home Finance, Reliance Nippon Life Asset Management, Reliance Capital, Reliance Infrastructure,  Reliance Naval and Engineering and Reliance Power were down in the range of 8% to 15% on the BSE. READ MORE

3:12 PM

Oil price fall impact

Oil refiners such as Hindustan Petroleum and aviation shares, including IndiGo Airlines’ parent InterGlobe Aviation, jumped on plunging crude oil prices.

 

2:59 PM

Markets Check at 3pm

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	32,749.74	-192.13	-0.58
S&P BSE SENSEX 50	10,541.14	-74.38	-0.70
S&P BSE SENSEX Next 50	34,699.99	-485.19	-1.38
S&P BSE 100	10,555.50	-86.28	-0.81
S&P BSE Bharat 22 Index	3,669.45	-41.85	-1.13

2:52 PM

Metals Crack

The Nifty Metal index slipped over 3%, tracking lower global commodity prices.Metal stocks like Vedanta and Hindalco Industries fell over 4% each 

2:41 PM

All is well under the leadership of Nilekani at Infosys: Narayana Murthy

 

Infosys co-founder N R Narayana Murthy said stability is restored at the helm of Infosys and “all is well” under the chairmanship of Nandan Nilekani. 

 

Nilekani took charge as the non-executive chairman of India’s second largest IT services after its first non-founder CEO Vishal Sikka quit in August citing “continuous distractions”. 

 

Murthy, who last month raised his concerns saying that “we will no longer know the truth” about the investigations carried out over allegations pertaining to Panaya acquisition, on Wednesday said: “Absolutely all is well.” READ MORE

2:25 PM

Asia Check

Asian stocks stumbled on Wednesday after weaker crude oil prices took a toll on Wall Street, while the euro kept big gains after enjoying a boost from robust German economic growth.

 

China’s Shanghai index was down 0.55%, Australian stocks dropped 0.6% and South Korea’s KOSPI shed 0.4%. Japan’s Nikkei lost 1.5%.

2:10 PM

Tyre stocks in focus; Balkrishna Industries hits new high

 

Shares of tyre companies were in focus in otherwise weak market with most of frontline stock rallying up to 8% on the BSE in intra-day trade.

 

BIL hit a new high of Rs 2,242, up 8% on the BSE in intra-day trade. The stock soared 25% in past one week after its board recommended bonus issue in the ratio of 1:1 i.e. 1 bonus share for every 1 share held. The board also declared 2nd interim dividend of Rs 2.50 per equity share in addition to Rs 2.50 per equity share declared in Q1FY18. READ MORE

1:58 PM

Top Sensex gainers and losers

Source: BSE

1:34 PM

Buzzing Stock

Shares of Panacea Biotec and Cox & Kings rose 7-8% intraday on the back strong September quarter (Q2FY18) numbers.

 

Panacea Biotec has reduced its losses in the Q2FY18 by posting loss at Rs 5.6 crore against Rs 47.9 crore in the year ago period.

 

Revenue was up 45% at Rs 152 crore, EBITDA rose 578 percent at Rs 46.8 crore and margins was up 2420 bps at 30.8%.