MARKET WRAP: Sensex slides 464 points; NBFCs plunge, India VIX surges 11%

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10:45 AM

Cement shares trade weak; ACC falls 8%, Shree Cement hits 52-week low

 

Shares of cement companies are under pressure falling by up to 8% on the BSE in intra-day trade after the ACC reported lower than expected operating performance for the quarter ended September 2018.

 

ACC, UltraTech Cement and Ambuja Cement were down 3% to 8%, while Dalmia Bharat and Shree Cement hitting their respective 52-week lows on the BSE. The S&P BSE Sensex was trading 0.89% lower at 34,469 points at 10:19 am. Read More

10:30 AM

Mindtree slumps over 16% on weak Q2FY19 results

10:15 AM

Market check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	34,505.83	-273.75	-0.79
S&P BSE SENSEX 50	10,839.59	-94.11	-0.86
S&P BSE SENSEX Next 50	30,484.02	-77.02	-0.25
S&P BSE 100	10,592.45	-82.32	-0.77
S&P BSE Bharat 22 Index	3,341.89	+9.42	+0.28

10:00 AM

EARNINGS IMPACT

Reliance Industries falls 7% post Q2 results

 

Shares of Reliance Industries (RIL) has dipped 7% to Rs 1,073 on the BSE in early morning trade after a mixed bag results for the quarter ended September 2018 (Q2FY19) with its retail and digital services (telecom; Jio) businesses continuing to post strong growth, while its core refining business performance was a bit disappointing amid high expectations. Read More

9:53 AM

YES Bank slips 4% after RBI rejects request to extend Rana Kapoor's term

 

Shares of YES Bank dropped as much as 4.9 per cent in the opening deals on Friday after the Reserve Bank of India (RBI) on Wednesday once again rejected the lender’s request for extending the term of MD & CEO Rana Kapoor, and reaffirmed the February deadline for finding his successor. The RBI said that a successor to Kapoor should be appointed by February 1, 2019. Kapoor’s tenure was cut short by an order issued by the RBI recently. Kapoor will be in office till January 31, 2019. Read more

9:45 AM

Look out for the headwinds before investing in beaten down sectors

 

After being in the positive territory since the start of the fiscal year till August-end, when leading indices touched all-time highs, the S&P BSE Sensex has shed over 10 per cent. In the backdrop of a worsening current account deficit, default by IL&FS and muted sentiment, investors have hit the exit button. Among the top sectors in terms of market value that bore the brunt of the Rs 20.2 trillion market sell-off, and have lost more than the Sensex, is non-banking financial companies. Read more

9:33 AM

UltraTech Cement trading 3.31% lower ahead of its Q2 Earnings

9:27 AM

RIL down over 5% post Q2

9:23 AM

Sectoral Trend

9:20 AM

S&P BSE Sensex top gainers and losers

9:18 AM

Markets at open

At 9:18 am, the S&P BSE Sensex was trading at 34,376, down 403 points while the broader Nifty50 index was ruling at 10,330, down 122 points

9:02 AM

Market pre-open

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	34,837.18	+57.60	+0.17
S&P BSE SENSEX 50	10,950.66	+16.96	+0.16
S&P BSE SENSEX Next 50	30,583.34	+22.30	+0.07
S&P BSE 100	10,690.04	+15.27	+0.14
S&P BSE Bharat 22 Index	3,343.28	+10.81	+0.32

9:01 AM

Rupee opening
Rupee opens at 73.60/$ vs its previous close of 73.61 per dollar

8:55 AM

Today's picks

 

BPCL

 

Current price: Rs 285

Target price: Rs 280

 

Keep a stop at Rs 288 and go short. Add to the position between Rs 281 and Rs 282. Book profits at Rs 280.

 

Hero Motors

 

Current price: Rs 2,808

Target price: Rs 2,745

 

Keep a stop at Rs 2,835 and go short. Add to the position between Rs 2,755 and Rs 2,765. Book profits at Rs 2,745. Read More

8:50 AM

Top trading ideas by Tradebulls Securities 

 

Stock: M&M

Reco.: BUY

CMP: Rs 757

 

The occurrence of a Spike / Pinbar formation on the weekly scale seems to have concluded the ongoing decline in the in the stock. While the trend strength indicator elevating from its oversold zone augurs well for strong pullback move. Momentum longs could be considered above 780 with a stop loss below 750 for an immediate target up to 825. Read more