Market wrap, Nov 11: Sensex ends flat; Nifty50 holds 11,900-mark

Top headlines at this hour:

>> Indices end flat after a range-bound trade; Sensex settles 21 points higher at 40,345 level; Nifty50 holds 11,900-mark

>>  Shares of Jet Airways were locked in the lower circuit band of 5 per cent at Rs 22.2 on the BSE on Monday after reports suggested founder Naresh Goyal was under 

Serious Fraud Investigation Office's (SFIO) lens for siphoning off funds

>> And in political news, With the Bharatiya Janata Party (BJP) declining Maharashtra governor's offer to form government in the state owing to its relations with its ally, 

the baton is now in Shiv Sena's hand. The Sena, which has 56 MLAs in the 288-member House, has time till 7:30 pm today to stake the claim

News in detail:

Post logging record highs during the previous week, markets consolidated on Monday as concerns over India's economic growth dented sentiment, while no fresh triggers kept indices range-bound. Additionally, fresh escalation of violence in Hong Kong coupled with uncertainty over whether the United States and China could end their damaging trade war kept investors on the sidelines.

Buying in financial counters and select index heavyweights in the fag end of the session, helped the benchmark S&P BSE Sensex to close in the positive territory.

The broader markets outperformed the frontline indices today, with the S&P BSE mid-cap index settling 43 points or 0.29 per cent higher at 14,774 level. The S&P BSE small-cap index, too, ended at 23 points, or 0.17 per cent, at 13,497 level.

Stocks that reacted to news developments:

>> Shares of Amara Raja Batteries surged 7 per cent to Rs 699 on the BSE on Monday, after the company reported 370 bps improvement in EBITDA margin at 17.2 per cent in the September 2019 quarter (Q2FY20) on account of softer commodity prices. The share settled at Rs 718.3, up 9.83 per cent.

>> Shares of HDFC Asset Management Company gained ground for the third straight day, up 5 per cent in an otherwise subdued market, at Rs 3,345 on the BSE on Monday. The stock was trading at its highest level since its listing on August 6, 2018, and has zoomed 204.09 per cent from its initial public offer (IPO) price of Rs 1,100 per share. The share settled at Rs 3353.80, up 5 per cent.

>> Shares of Affle (India) surged 10 per cent to Rs 1,538, in the intra-day trade, on the BSE on Monday after the company reported a healthy 41 per cent year on year (YoY) jump in EBITDA at Rs 21.7 crore in September quarter. Foreign brokerage firm Nomura, too, initiated coverage on the stock with a ‘buy’ rating and a target price of Rs 1,900 per share. The share settled at Rs 1496, up 7 per cent.

MARKET HOLIDAY: Markets will remain closed on Tuesday on account of Guru Nanak Jayanti.