MARKET WRAP: Sensex ends 250 pts lower as RBI maintains status quo on rates
The Nifty Metal index settled 3.7 per cent lower weighed by Jindal Steel and Power Hindalco and Tata Steel. Nifty Auto index, too, slipped 2.3 per cent due to a fall in Bharat Forge and Tata Motors
 "Stock market")
9:59 AM
Market check
| Index | Current | Pt. Change | % Change |
| S&P BSE SENSEX | 35,897.76 | -236.55 | -0.65 |
| S&P BSE SENSEX 50 | 11,293.27 | -76.21 | -0.67 |
| S&P BSE SENSEX Next 50 | 32,021.61 | -273.93 | -0.85 |
| S&P BSE 100 | 11,049.05 | -77.80 | -0.70 |
| S&P BSE Bharat 22 Index | 3,416.88 | -14.35 | -0.42 |
9:55 AM
Shares of Kesoram Industries dropped as much as 7.8 per cent to Rs 89.60 in the early morning trade on BSE as the investors booked profit after the company said it will spin off its tyre business into a separate entity, which will then become a publicly-traded company. READ MORE
Demerger impact Kesoram Industries slides 8% on profit booking as co hives off tyre biz
Shares of Kesoram Industries dropped as much as 7.8 per cent to Rs 89.60 in the early morning trade on BSE as the investors booked profit after the company said it will spin off its tyre business into a separate entity, which will then become a publicly-traded company. READ MORE
9:48 AM
Sebi panel bats for direct listing of Indian firms on foreign exchanges
In a move that could open up a fresh source of funding for domestic unicorns and new-age companies, an expert committee constituted by the Securities and Exchange Board of India (Sebi) has endorsed direct listing of Indian firms on foreign exchanges. The panel has also proposed measures to encourage global companies to list in India. READ MORE
9:34 AM
Interview of the Day Focus to be back on fundamentals once poll season is over: Krishna Sanghavi
Expectations around the 2019 election outcome may influence sentiment and cause volatility, says Krishna Sanghavi, head (equity), Canara Robeco Mutual Fund. In an interview with Ashley Coutinho, he says the next six months may offer select buying opportunities in mid- and small-cap stocks that have corrected significantly over the past few months. READ MORE
Expectations around the 2019 election outcome may influence sentiment and cause volatility, says Krishna Sanghavi, head (equity), Canara Robeco Mutual Fund. In an interview with Ashley Coutinho, he says the next six months may offer select buying opportunities in mid- and small-cap stocks that have corrected significantly over the past few months. READ MORE
Krishna Sanghavi
9:28 AM
Edelweiss on Havells India
Despite limited near-term triggers, we remain enthused by Havells focus on its strategic business unit structure. With management strategy on track, we are keeping tabs on initiatives pertaining to distribution penetration and innovative products. Maintain ‘BUY’ with target price of Rs 835 (48x FY20E EPS).
9:27 AM
Antique Stock Broking on banks
from the medium-term perspective, we are still wary of the rising gap between growth opportunities and capacity in the banking system, i.e. banks with growth capital are low on deposits and vice versa. We continue to maintain our positive stance on banks with strong liability franchise and maintain HDFC Bank, SBI and ICICI Bank as our top picks. Among smaller names, we like KVB and Federal Bank.
from the medium-term perspective, we are still wary of the rising gap between growth opportunities and capacity in the banking system, i.e. banks with growth capital are low on deposits and vice versa. We continue to maintain our positive stance on banks with strong liability franchise and maintain HDFC Bank, SBI and ICICI Bank as our top picks. Among smaller names, we like KVB and Federal Bank.
9:26 AM
Edelweiss on Nestle
India’s consumer space has few examples wherein a brand with negligible market share has successfully gained 20% plus share in a segment dominated by a player with 50% plus share. For example, new entrant Patanjali, which had gained decent traction across many categories initially, is now facing a big slowdown.
On the other hand, we have ITC’s Sunfeast Yippee! noodles in the instant noodle market. It gained sizeable share aided by a ban on market leader Maggi three years ago; Yippee! now has ~22% market share versus Maggi’s ~60%. Thus, in our view, with Nestle losing the battle for GSK’s HFD portfolio, its scale up journey in the segment has been delayed by a few more years.
On the other hand, we have ITC’s Sunfeast Yippee! noodles in the instant noodle market. It gained sizeable share aided by a ban on market leader Maggi three years ago; Yippee! now has ~22% market share versus Maggi’s ~60%. Thus, in our view, with Nestle losing the battle for GSK’s HFD portfolio, its scale up journey in the segment has been delayed by a few more years.
9:23 AM
MARKET COMMENT :: ICICI Securities
Over the past four weeks, Nifty midcap index has retraced just 23.6% of earlier one week’s sharp up move of 10%. The shallow nature of price retracement along with elongated time consolidation signifies a robust price structure. Also, the daily stochastic oscillator recorded a bullish crossover and is now pointing upward. This makes us believe the index will outperform benchmarks in coming weeks. Hence, any dip from here on should be used to accumulate quality stocks
Over the past four weeks, Nifty midcap index has retraced just 23.6% of earlier one week’s sharp up move of 10%. The shallow nature of price retracement along with elongated time consolidation signifies a robust price structure. Also, the daily stochastic oscillator recorded a bullish crossover and is now pointing upward. This makes us believe the index will outperform benchmarks in coming weeks. Hence, any dip from here on should be used to accumulate quality stocks
9:21 AM
Tata Motors slips in early trade
9:18 AM
Sectoral trend on NSE
9:17 AM
Opening losers in BSE Sensex
9:16 AM
Market at open
At 9:15 AM, the S&P BSE Sensex was trading at 35,927, down 207 points, while the broader Nifty50 was ruling at 10,806, down 63 points.
9:04 AM
Bond Alert: 10-year Govt Bond Yield opens at 7.56% vs previous close of 7.57%
9:02 AM
Market at pre-open
| Index | Current | Pt. Change | % Change |
| S&P BSE SENSEX | 36,219.58 | +85.27 | +0.24 |
| S&P BSE SENSEX 50 | 11,393.30 | +23.82 | +0.21 |
| S&P BSE SENSEX Next 50 | 32,253.72 | -41.82 | -0.13 |
| S&P BSE 100 | 11,144.54 | +17.69 | +0.16 |
| S&P BSE Bharat 22 Index | 3,434.20 | +2.97 | +0.09 |
9:01 AM
Rupee opening
Rupee opens at 70.64/$ vs its previous close of 70.49 against the US dollar.
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First Published: Dec 05 2018 | 8:14 AM IST
