Key market barometers traded with minor losses in mid-afternoon trade. The Nifty index was trading near 11,900 mark. At 14:24 IST, the barometer index, the S&P BSE Sensex, was down 44.27 points or 0.11% at 40,279.34. The Nifty 50 index was down 16.25 points or 0.14% at 11,891.90.
In the broader market, the S&P BSE Mid-Cap index was up 0.33%. The S&P BSE Small-Cap index was up 0.16%.
The market breadth was negative. On the BSE, 1158 stocks advanced and 1252 stocks declined. A total of 169 stocks remain unchanged. In Nifty 50 index, 20 stocks advanced while 30 stocks declined.
India's industrial production data and manufacturing production data for September 2019 will be announced on today, 11 November 2019.
Buzzing Index:
The Nifty Realty index was up 0.53%, rising for fourth trading session. The realty index has surged 5.55% in four trading sessions.
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Real estate shares continued to rise after the Union Cabinet approved special window for funding of stalled affordable and middle-income housing projects. The Union Cabinet chaired by Prime Minister Narendra Modi on 6 November 2019 approved the establishment of a 'special window' fund to provide priority debt financing for the completion of stalled housing projects that are in the affordable and middle-income housing sector.
Indiabulls Housing Finance (up 2.44%), Brigade Enterprises (up 2.07%), Oberoi Realty (up 1.89%), The Phoenix Mills (up 1.6%), DLF (up 1.43%), Sunteck Realty (up 0.51%) and Prestige Estates Projects (up 0.1%) surged higher.
Stocks in Spotlight:
VRL was trading 1.27% higher at Rs 266.35. The leading logistics service provider reported its Q2 2019 earnings on Saturday, 9 November 2019. On standalone basis, company's net profit rose 68.3% to 34.72 crore on a 1.3% rise in net sales to Rs 523.82 crore in Q2 September 2019 over Q2 September 2018. The company has declared a dividend of Rs 4 per equity share.
Novartis India fell 3.6% to Rs 660 after the company reported a net loss of Rs 5.22 crore in Q2 September 2019 compared with net profit of Rs 9.37 crore in Q2 September 2018. Net sales increased 10.5% to Rs 117.78 crore in Q2 September 2019 over Q2 September 2018. The result was announced at the fag end of trading hours on Friday, 8 November 2019.
Oil India declined 1.24% to Rs 163.2 after consolidated net profit tumbled 38% to Rs 661.53 crore on 14.3% decline in net sales to Rs 3,221.20 crore in Q2 September 2019 over Q2 September 2018. EBITDA fell 14.28% to Rs 1510.76 crore in Q2 September 2019 over Rs 1762.45 crore in Q2 September 2018. The EBITDA margin decreased to 43% in Q2 September 2019 compared with 44% in Q2 September 2018. The result was released on Saturday, 9 November 2019.
Numbers to watch:
The yield on 10-year benchmark federal paper rose to 6.566% at 14:19 IST compared with 6.554% in the previous trading session.
In the foreign exchange market, the Indian rupee edged lower against the dollar in mid-afternoon trade. In the spot currency market, the Indian unit was last seen trading at 71.485. On Friday, it closed at 71.2850 against the US dollar.
In the commodities market, Brent crude for January 2020 settlement was down 53 cents at $61.98 a barrel. The contract rose 0.35% to settle at $ 62.51 a barrel during the previous trading session.
MCX Gold futures for 5 December 2019 settlement edged 0.26% higher to Rs 37,785.
Politics:
Shiv Sena MP Sanjay Raut on Monday slammed the Bharatiya Janata Party (BJP) and went on an all-out attack against the party. Raut also said that Shiv Sena is ready to form the government in Maharashtra with Congress and Nationalist Congress Party (NCP).
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