MARKET WRAP: Indices end flat, Nifty at 10,380; YES Bank rallies 9%

Nifty IT index was the top loser of the day, falling 2.1 per cent weighed by HCL Technologies and Infosys. On the other hand, among gainers, the Nifty Metal index rose 1.3 per cent led by NMDC.

The benchmark indices ended largely flat on Thursday.

The S&P BSE Sensex ended at 34,432, down 10 points (0.03 per cent), while the broader Nifty50 index settled at 10,380, down 6 points (0.06 per cent).

Among individual stocks, YES Bank rallied 9.3 per cent to Rs 205.60 on the National Stock Exchange (NSE). Shares of Larsen & Toubro (L&T) rose 2.6 per cent to Rs 1,331.10 per share after the company reported 23 per cent year-on-year (Y-o-Y) jump in its consolidated net profit at Rs 22.30 billion in September quarter (Q2FY19). The consolidated gross revenue during the quarter grew 21 per cent at Rs 320.81 billion on a Y-o-Y basis.

Among sectoral indices, Nifty IT index was the top loser of the day, falling 2.1 per cent weighed by HCL Technologies and Infosys. On the other hand, among gainers, the Nifty Metal index rose 1.3 per cent led by NMDC.

In the broader markets, both the S&P BSE MidCap and S&P BSE SmallCap rose 1 per cent each to end at 14,773 and 14,356 respectively.

Manufacturing PMI up at 53.1 in Oct

The country's manufacturing sector activity improved in October, as firms scaled up production and employment levels amid a strong rise in new business order flows, a monthly survey said Thursday.

The Nikkei India Manufacturing Purchasing Managers' Index strengthened from 52.2 in September to 53.1 in October as new orders and production increased at the quickest rate in four months. This is the 15th consecutive month that the manufacturing PMI remained above the 50-point mark. In PMI parlance, a print above 50 means expansion, while a score below that denotes contraction.

Global Markets

Battered equity investors got Asia off to a positive start for November, as Thursday’s session benefited from another strong performance on Wall Street, while the pound jumped on a report Britain has secured a deal that would give its financial services firms continued access to European markets after Brexit.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.7 per cent, adding to modest gains the previous day, though this came after a brutal October month. The index had fallen 10.2 per cent in October, its worst monthly performance since August 2015, as factors ranging from Sino-US trade tensions to worries about global economic growth, higher US interest rates and company earnings spurred volatility in global markets.

Hong Kong’s Hang Seng rose 1.5 per cent and the Shanghai Composite Index climbed 0.2 per cent. Japan’s Nikkei bucked the trend and slipped 1 per cent following two days of big gains.

(with inputs from Reuters)

3:38 PM

Top sectoral gainers and losers on NSE

3:38 PM

S&P BSE Sensex: Top gainers & losers

3:35 PM

Market At close

The S&P BSE Sensex on Thursday ended flat at 34,431.97, down 10 points while NSE's Nifty50 index closed just 6 points lower at 10,380.45.

3:15 PM

Bajaj Electricals Q2 net jumps 79.56% to Rs 34.08 cr

Consumer durables firm Bajaj Electricals Thursday posted a 79.56 per cent year-on-year jump in standalone net profit at Rs 34.08 crore for the second quarter ended September. It had reported a net profit of Rs 18.98 crore in the corresponding quarter last fiscal.

Total income increased to Rs 1,604.20 crore during the quarter under review, from Rs 946.13 crore in the same quarter last fiscal, it said in a release. READ MORE

3:12 PM

HDFC net profit rises 25% to Rs 2,467 crore in Q2

Mortgage lender HDFC Ltd Thursday reported 25 per cent rise in its standalone net profit to Rs 2,467.08 crore in second quarter ended September 30. The company had registered a net profit of Rs 1,978.19 crore in the corresponding period of 2017-18. READ MORE

3:01 PM

Sebi directs Sahara group, its chief Subrata Roy to refund Rs 141 bn

The Securities and Exchange Board of India (Sebi) has barred Sahara India Commercial Corporation (SICCL), its chief Subrata Roy Sahara and 13 other persons from dealing in the securities market for a period of four years, directly or indirectly, for allegedly breaching securities norms by raising money from the market through optionally fully convertible debentures (OFCDs).

The capital market regulator has also directed Sahara India, SICCL, Roy to refund Rs 141 billion along with 15 per cent interest from the date of this order, till the expiry of 4 years from the date of completion of refunds to investors. READ MORE

2:47 PM

Top gainers in BSE 500:

COMPANY	PRICE()	CHG()	CHG(%)	VOLUME
KEI INDS.	351.00	44.70	14.59	152669
PC JEWELLER	66.70	8.20	14.02	2885636
REL. COMM.	13.66	1.33	10.79	15347212
BOMBAY DYEING	115.00	10.45	10.00	780279
ADANI POWER	50.45	4.40	9.55	7383720

» More on Top Gainers

2:31 PM

Vedanta gains after declaring Q2 result

Vedanta rose 0.5% to Rs 212.30 at 13:41 IST on BSE after the company announced Q2 result after market hours yesterday, 31 October 2018. Meanwhile, the S&P BSE Sensex was up 23.74 points, or 0.07% to 34,465.79

On the BSE, 11.53 lakh shares were traded in the counter so far compared with average daily volumes of 9.05 lakh shares in the past two weeks. READ MORE

2:15 PM

Market Check

Index	Current	Pt. Change	% Change

S&P BSE SENSEX	34,416.03	-26.02	-0.08

S&P BSE SENSEX 50	10,862.20	-9.29	-0.09

S&P BSE SENSEX Next 50	31,431.88	+117.65	+0.38

S&P BSE 100	10,660.02	-1.70	-0.02

S&P BSE Bharat 22 Index	3,432.71	+39.35	+1.16

2:00 PM

Escorts gains 10% on strong October sales

The company's tractor sales stood at 21,039 units during the second quarter (July-September) of the current fiscal witnessing a growth of 3.3%. READ MORE

1:45 PM

Rising gold prices likely to dampen Indian festive purchases: WGC

Indian gold demand in 2018 is expected to fall from the previous year as a rally in local prices to five-year highs is likely to dent purchases during key festivals in the December quarter, the World Gold Council (WGC) said on Thursday. READ MORE

1:29 PM

Ten years of Bitcoin: How it started and what the future might hold

A mysterious, anonymous entity known as “Satoshi Nakamoto” posted a white paper on October 31 2008 entitled “Bitcoin: A Peer-to-Peer Electronic Cash System”. It was the first time that the concept of Bitcoin entered the world. But outside of the cypherpunk mailing lists – those promoting the use of privacy-enhancing technology – this event was hardly noticed. Ten years on, who hasn’t at least heard of the cryptocurrency? READ MORE

1:15 PM

Adani Power hits 52-week high post Q2 results; stock soars 45% in one week

Shares of Adani Power hit a 52-week high of Rs 47.85 per share, up 4% on the BSE, after Adani Group company posted 22% year-on-year (Y-o-Y) growth in its consolidated net profit at Rs 3.87 billion in September quarter.

It had posted a profit of Rs 3.17 billion in the same quarter last year. The electric utility company had a net loss of Rs 8.25 billion in the previous quarter. READ MORE

1:03 PM

Tough road ahead for bruised rupee amid trade war, political risks: Poll

There will be little respite for the bruised Indian rupee over the coming year, depressed by an escalating US-China trade war and rising domestic political risks ahead of a general election, a Reuters poll showed.

Investors have generally shunned emerging-market assets this year, made riskier by the international trade tensions and the increasing attractiveness of dollar yields, thanks to the US Federal Reserve's steady pace of rate increases. READ MORE

12:50 PM

Stock alert: PC Jeweller up over 9%

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First Published: Nov 01 2018 | 8:16 AM IST