Sensex ends flat, Nifty below 9950; M&M top loser ahead of GST Council meet

All that happened in today's trade

3:54 PM

Vinod Nair, Head of Research, Geojit Financial Services 

 

The market continued to consolidate amid lack of fresh triggers for a decisive up-move. The global uncertainties are not completely out of the wood but the degree of threat is narrowing which will keep the long term outlook intact.

3:49 PM

Nifty Auto slips 0.5% ahead of GST Council meet on car cess

Source: NSE

3:43 PM

Sensex heatmap at close

Source: BSE

3:40 PM

Broader markets

 

Broader markets underperformed with BSE Midcap and the BSE Smallcap indices losing 0.4% and 0.1%, respectively. 

3:39 PM

Markets at close

 

The Sensex ended at 31,687, up 24 points, while the broader Nifty50 settled at 9,934, up 5 points. 

3:22 PM

Saudi Aramco IPO

 

When oil giant Saudi Aramco discloses its financials for the first time next year, it must either surprise investors with world record profits or reduce its aspirations for a $2 trillion valuation in its initial public offering (IPO). READ FULL REPORT

3:19 PM

European markets

European markets were trading lower as the stronger euro - a hit to exporters’ profits - continued to take the shine off one of the most favoured trades from earlier this year. The pan-European Stoxx 600 was down by around 0.29% after the opening bell, with almost all sectors and major bourses trading in the negative territory. FTSE 100 was down by 0.23% at 7,380. CAC 40 also was down by 0.21% at 5,103. DAX also reduced by 0.15% at 12,278. 

3:13 PM

Buzzing stock

Mahindra and Mahindra slipped over 3% and was the top index loser ahead of the GST Council meet to decide the quantum of cess hike in each variety of car on SUVs and luxury cars.

3:05 PM

Top five losers on Nifty

Source: BSE

3:03 PM

Markets check

 

At 3:00 pm, the Sensex was trading at 31,704, up 41 points, while the Nifty50 was ruling at 9,936, up 7 points. 

2:45 PM

Buzzing stock

8K Miles Software Services hit 52-week low of Rs 436, down 9%, extending its Thursday’s 3% fall on BSE. CLICK HERE FOR FULL REPORT

2:34 PM

Motilal Oswal on Shree Cement

 

SRCM is the most cost-efficient cement producer in India. Its superior execution capability enables it to achieve RoIC of over ~50% (FY19E). SRCM’s gross-block-to-capacity (GB/capacity)-currently at ~USD53/tonne – has been structurally trending downward, as the proportion of brownfield expansion has increased. Its GB/capacity is at 28% discount to peers, which is also reflected in its superior RoCE. 

 

We believe SRCM deserves to trade at premium valuations; we value the cement business at 15x FY20E EV/EBITDA to arrive at a target price of Rs 22,360. Buy.

2:12 PM

China August imports beat forecasts 

 

China posted stronger-than-expected import growth in August, reinforcing views that the world's second-largest economy is still expanding at a healthy pace despite tighter policy. 

 

China's imports grew 13.3% from a year earlier, official data showed on Friday, handily beating analysts' forecast of 10%, after rising 11% in July. READ MORE

1:58 PM

Buzzing stock

Tata Metaliks surged 5.57% to Rs 808 on BSE, with the stock extending its recent rally on sustained buying interest. CLICK HERE FOR MORE

1:35 PM

Broader markets off day's high

 

The BSE Midcap and the BSE Smallcap indices were down 0.5% and 0.2%, respectively.