Nifty ends below 10,000-mark as Sebi order on shell firms hurts sentiment

All that happened in Tuesday's session

9:29 AM

Top Sensex gainers and losers 

Source: BSE

9:28 AM

COMMENT: EDELWEISS ON HINDALCO

 

We believe, in ensuing quarters, the company should be able to maintain both high spread and EBITDA margin between 10% and 11% driven by higher auto shipments in the product mix, sustained operating cost efficiencies and benign LME aluminium (Al) prices. 

 

Taking cognizance of robust Q1FY18 numbers, we revise up FY18/FY19E EBITDA 3%/2%, respectively. Retain ‘BUY’ with revised target price of Rs 267 (earlier Rs 250), implying an exit multiple of 6.5x FY19E EBITDA, which is at a discount to global peer average.

9:26 AM

Broader markets

 

Broader markets mirrored gains in the frontline indices. The BSE Midcap and the BSE Smallcap indices were up 0.2% each. 

9:24 AM

Earnings impact

Tata Steel extended gains for the second straight day rising over 3% to Rs 619 after the company came back to the black by reporting a consolidated net profit of Rs 921 crore in the April-June quarter, as strong performance of domestic operations continued to lead the show followed by improved earnings scenario from European operations. The stock was the top Sensex gainer. 

9:20 AM

Markets at open

At 9:18 am, the Sensex was trading at 32,353, up 79 points, while the broader Nifty50 was trading at 10,082, up 24 points. 

9:15 AM

STOCKS TO WATCH

 

Tata Steel, Jindal Steel, Bharti Airtel, ITC, Larsen & Toubro, GAIL (India) and ONGC etc  

9:09 AM

MERKET TRENDS: Watch Anand Radhakrishnan, CIO (Equity) at Franklin Templeton talk on equity valuations, earnings growth, impact of GST and more https://youtu.be/AyG672EJ5W8

9:09 AM

Nifty outlook by Angel Broking

 

We expect the index to remain within a range of 10,150-9,944 for a while and hence, one should ideally continue focusing on individual stocks that are offering much better trading opportunities. Within this range, intraday support and resistance is seen at 10,020 and 10,090, respectively.

9:06 AM

Pre-open trade

 

The S&P BSE Sensex added over 100 points to trade above 32,350, while the broader Nifty50 was up about 20 points at 10,075

9:06 AM

MARKET STRATEGY: Watch Santosh Kamath, CIO for Fixed Income at Franklin Templeton on the road ahead for the fixed income market https://youtu.be/nIcmIgbTfsY

9:03 AM

Investor categorywise turnover

 

On Monday, foreign institutional investors sold equities worth Rs 199 crore, while the domestic institutional investors bought equities worth Rs 308 crore, provisional data vailable with BSE showed. 

9:02 AM

AUTO SECTOR UPDATE: Shrikant Akolkar, Research Analyst - Automobiles, Angel Broking on cess hike for luxury vehicles

 

The likely hike in the cess rate from current 15% to 25% is not expected to see a materially negative impact on the demand for the premium automobiles. The underlying demand remains healthy which is the driving force for the automobile sector. We believe that companies will be able to pass on the cess hikes on luxury vehicle s/UVs to customers by price revision

9:01 AM

FPI ownership in Indian equities hits a life-time high

 

The total ownership of foreign portfolio investors (FPIs) in Indian equities hit a record high during the quarter ending June (Q1) as overseas funds continued to invest aggressively. In total, FPIs own 27.5 per cent in the top 75 listed companies, data compiled by Morgan Stanley showed. The FPI ownership increased 59 basis points during the June quarter when these funds net purchased equities worth Rs 11,340 crore ($1.8 billion) from the Indian markets. READ THE FULL STORY HERE

9:00 AM

Sebi may extend trading hours for derivatives market

 

In a bid to bring back some of the lost zing, the markets regulator, the Securities and Exchange Board of India (Sebi), is looking to extend the trading hours for the derivatives market. Sources said Sebi was considering if trading in index futures could be kept open even after the cash market closed. The move will provide investors the tool to price in news flow that comes after market hours. READ THE FULL STORY HERE

8:59 AM

Asian markets

Asian shares neared decade peaks. MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.2% and to within a whisker of its recent high. South Korea's market rose 0.4%, while in Japan, the broad TOPIX held near its highest in two years and the Nikkei was flat. China's Shanghai Composite was down 0.2%, while Hong Kong's Hang Seng was trading flat.