MARKET WRAP: Sensex gains 119 pts, Nifty ends at 10,617; YES Bank sinks 7%

The Nifty Financial Services index settled 1.1 per cent higher led by a rise in the shares of Max Financial Services, Power Finance Corporation and Mahindra & Mahindra Financial Services

The benchmark indices ended marginally higher on Thursday led by a rise in the banking and financial stocks. 

The S&P BSE Sensex ended at 35,261, up 119 points, while the broader Nifty50 index settled at 10,617, up 40 points.

Among the sectoral indices, the Nifty Financial Services index settled 1.1 per cent higher led by a rise in the share prices of Max Financial Services, Power Finance Corporation and Mahindra & Mahindra Financial Services. The Nifty Bank index, too, ended 0.9 per cent higher led by IDFC Bank and Axis Bank.

YES Bank fell 7.3 per cent to Rs 206.30 on the BSE after Ashok Chawla, the bank's non-executive chairman, stepped down with immediate effect, following his name appearing in Aircel-Maxis controversy. Independent Director Vasant Gujarathi has also quit, citing personal commitments. The bank's board has appointed Uttam Prakash Agarwal as additional director (Independent) for five years, subject to shareholder’s approval.

Vodafone Idea ended 10.6 per cent lower at Rs 37.05 on the BSE after the company reported a net loss of Rs 49.7 billion on a revenue of Rs 120.2 billion. For the July-September quarter, earnings before interest, tax, depreciation and amortisation (Ebitda) declined 28.7 per cent to Rs 9.8 billion.

The rupee is traded on a firm note on Thursday having risen to a near two-month high of 71.86 against the dollar in intra-day trade, up from its previous close of 72.31 against the greenback.

GLOBAL MARKETS

Asian stocks rose on Thursday, cheered by a bounce in Chinese equities on signs China and the United States may be taking steps to de-escalate their bitter trade dispute, while oil prices resumed their retreat on fears of oversupply.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.7 per cent. The index had fallen the previous day as the sharp slide in oil prices heightened anxiety about the outlook for broad demand and global growth. Shanghai Composite Index gained 0.9 per cent, while Hong Kong's Hang Seng rose 0.8 per cent.

Elsewhere, Australian stocks inched up 0.05 per cent and Japan's Nikkei shed 0.2 per cent.
 

(with Reuters input)

3:37 PM

Top sectoral gainers and losers on NSE

3:36 PM

Top gainers & losers on S&P BSE Sensex

3:32 PM

Market at close

 

The S&P BSE Sensex ended at 35,261, up 119 points while the broader Nifty50 index settled at 10,617, up 40 points.

3:20 PM

NEWS ALERT Jet Airways adds Rs 6.9 bn to its market cap today; stock up 24%

3:03 PM

Where to invest ahead of 2019 general elections

 

The outcome of assembly elections in five states currently underway will, at best, test the popularity of the Bharatiya Janata Party (BJP) – led government at the centre and its policies, but experts do not extrapolate the outcome to the general elections scheduled for May 2019. This, they say, is due to the fact that the state elections will be fought on local issues rather than a broad-based national agenda. Click here to read full article

2:47 PM

S&P BSE Sensex top gainers and losers

2:34 PM

Page Industries extends fall after disappointing Q2 results

 

Shares of Page Industries have slipped 7% to Rs 25,867 per share on Thursday, extending their 4% decline on Wednesday on the BSE in an otherwise firm market after the company reported a disappointing set of numbers for the quarter ended September (Q2FY19). With past two day’s decline, Page Industries fallen 29% from its all-time high level of Rs 36,336 touched on August 28, 2018, against a 10% decline in the S&P BSE Sensex. Read more

 

2:14 PM

Devangshu Datta Turnaround in bad loans not in sight yet for PSU banks

 

CARE Ratings has tabulated results of 30 banks, which have declared Q2, 2018-19 results. The focus was on trends in gross NPAs (non-performing assets) as a per cent of advances. There seems to be an improvement over the last two quarters. Tighter NPA recognition norms led to a surge in bad loans over the last two years. But overall NPAs have reduced and provisioning has also reduced in the last two quarters. Read more

2:05 PM

Apollo Hospitals at 52-week high post Q2

2:03 PM

Top gainers in BSE 500

COMPANY	PRICE()	CHG()	CHG(%)
MAX FINANCIAL	427.40	34.30	8.73
ADANI TRANSMISSI	206.80	16.25	8.53
UJJIVAN FIN.SER.	235.95	18.45	8.48
JET AIRWAYS	276.00	18.25	7.08
JUST DIAL	508.95	29.35	6.12

2:02 PM

NEWS ALERT Rupee gains past 72 per dollar

1:48 PM

Global fund managers bought into October correction: BofAML survey

Global fund managers bought into the market correction in October, reveals Bank of America Merrill Lynch’s (BofAML’s) the fund manager survey for November, with their cash levels dropping from 5.1 per cent to 4.7 per cent month-on-month (MoM).

 

The cash, according to the survey, was used to buy US and emerging market (EM) stocks, REITs and healthcare scrips. On the other hand, allocation to global technology sector hit its lowest level since February 2009. READ MORE

1:30 PM

L&T hits 5-month high; stock rises 17% in three-weeks

 

Shares of Larsen & Toubro (L&T) hit an over five-month high of Rs 1,405 per share, rising by 17% in past three weeks, as compared to 4.7% rise in the S&P BSE Sensex. The stock of engineering & construction firm was trading at its highest level since May 3, 2018, on the BSE in intra-day trade. It is 5% away from its record high level of Rs 1,470 touched on February 1, 2018. Read more

1:16 PM

Jet Airways extends gain, up over 6.5%

1:08 PM

Market check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	35,371.34	+229.35	+0.65
S&P BSE SENSEX 50	11,118.19	+62.52	+0.57
S&P BSE SENSEX Next 50	32,073.13	+65.79	+0.21
S&P BSE 100	10,906.12	+55.43	+0.51
S&P BSE Bharat 22 Index	3,485.08	+16.66	+0.48