MARKET WRAP: Sensex pares gains, ends 87 pts higher; Nifty closes at 11,330

markets
After rising around 1 per cent in the intra-day deals, benchmark indices lost momentum in the last hour of the trade to settle with marginal gains on Monday. 

The benchmark S&P BSE Sensex ended at 38,214.47, up 87 points or 0.23 per cent. During the day, the index hit a high and low of 38,513.69 and 38,066.13, respectively. TCS, Axis Bank, ONGC, HDFC Bank and Bharti Airtel contributed the most to the index's gains while Infosys, and Bajaj Finance emerged as top drags. 

The broader Nifty50 index of the National Stock Exchange (NSE) ended at 11,329.80, up 25 points or 0.22 per cent. 

Market breadth remained in favour of declines as out of 2,734 companies traded on the BSE, 1,229 advanced and 1,279 declined while 226 scrips remained unchanged. 

In the broader market, the S&P BSE MidCap index ended at 13,841.01, up 60 points or 0.44 per cent and the S&P BSE SmallCap closed at 12,787.59, up 16 points or 0.12 per cent. 

On the sectoral front, barring Nifty IT and Nifty PSU Bank index, all the sectoral indices on the NSE ended in the green. Nifty Realty advanced the most, followed by Nifty Auto and Nifty Pharma. 

BUMPER LISTING

Shares of Indian Railway Catering and Tourism Corporation (IRCTC), the online ticketing, tourism and the catering arm of railways, made a stellar debut on the bourses by listing at Rs 644, a 101 per cent premium over its issue price of Rs 320 per share on the BSE. At close, the stock stood at Rs 728.60 apiece on the BSE, up around 128 per cent. With this, IRCTC saw the best stock market debut in at least three years. READ MORE

 
Among individual stocks, shares of Adani Gas zoomed 18 per cent to Rs 162 on the BSE after the company said French energy giant Total SA would acquire 37.4 per cent stake in it. The stock settled at Rs 150.60, up nearly 9.50 per cent. READ MORE

Infosys, on the other hand, ended nearly 4 per cent lower as investors booked profit post Q2 results. 

GLOBAL MARKETS 

A global index of stock markets slipped on Monday as signs of progress in the China-US trade dispute drew mixed a reaction from investors, with some cautioning over a lack of detail in the initial stages of the agreement. The pan-European STOXX 600 index was down 0.75 per cent in early trade. Germany's DAX, dominated by companies exposed to China, slipped 0.5 per cent. All European country indexes were in the red. 

MSCI’s All-Country World Index, which tracks shares across 47 countries, was down 0.06 per cent on the day. Australia's main index gained 0.54 per cent and South Korea rose 1.11 per cent. Shanghai blue chips added 1 per cent.

E-Mini futures for the S&P 500 were down 0.2 per cent. 

In commodities, oil prices eased. Brent crude futures fell by 69 cents to $59.82 a barrel, while US West Texas Intermediate (WTI) crude futures was at $54.09 a barrel, down 61 cents. 

(With inputs from Reuters)


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3:36 PM IST The S&P BSE Sensex rose 87 points or 0.23 per cent to settle at 38,214.47 levels, while the NSE's Nifty50 index ended at 11,330, up 25 points or 0.22 per cent.

3:09 PM IST The appellate tribunal also put the Rs 19,700-crore payout by the JSW Steel to buy the debt-ridden company on hold till further orders.   An NCLAT bench headed by Chairman Justice S J Mukhopadhyaya slammed the ED, saying that Insolvency and Bankruptcy Code (IBC) would fail if the agency functions like this and directed it to file a reply in the next two days, along with CBI. READ MORE

3:03 PM IST

2:54 PM IST

2:51 PM IST -- Air India owes Rs 2,700 cr to Indian Oil Corp as past dues for ATF supply  

2:46 PM IST

LIVE UPDATES

NSE snapshot


Index contributors today (BSE Sensex)


ONGC, Tata Motors among key Sensex gainers


Index watch


CLOSING BELL

The S&P BSE Sensex rose 87 points or 0.23 per cent to settle at 38,214.47 levels, while the NSE's Nifty50 index ended at 11,330, up 25 points or 0.22 per cent.

NCLAT halts Bhushan Power sale to JSW Steel; asks ED to release BSPL assets

The appellate tribunal also put the Rs 19,700-crore payout by the JSW Steel to buy the debt-ridden company on hold till further orders.
 
An NCLAT bench headed by Chairman Justice S J Mukhopadhyaya slammed the ED, saying that Insolvency and Bankruptcy Code (IBC) would fail if the agency functions like this and directed it to file a reply in the next two days, along with CBI. READ MORE

Top 5 losers on the BSE at present


Market check | Sensex trims gains


NEWS ALERT | Fuel supply to Air India may be cut from Oct 18 if dues not cleared: IOC sources to CNBC TV18

-- Air India owes Rs 2,700 cr to Indian Oil Corp as past dues for ATF supply
 

BUZZING STOCK | GTPL Hathway jumps 14%


NEWS ALERT | DHFL denies selling its entire wholesale book to Oaktree Capital via BSE filing

-- Says, Company is in discussions with various parties to appoint development managers for some of its large projects

-- Have also made significant progress in bringing in investors' interest in certain projects for extending fresh working capital to get the projects moving towards
completion stage

NEWS ALERT | Moody's downgrades Indiabulls Hsg's rating to B2 from Ba2; outlook negative

>> Stock dips 5%

ICICI Securities on Infosys

In line revenue and better-than-expected margins, accelerating deal TCV, digital growth and scope of margin expansion are key positives. Though we expect revenue growth to moderately surpass the upper guided band, the recent run up in the stock and fully priced valuations prompt us to maintain our HOLD rating with a revised target price of Rs 855 (based on 19x FY21E EPS).

Market check


Market check | Nifty50 trades above 11,400-mark


MARKET CHECK | Most PSBs gain in trade, Nifty PSU Bank index up over 1%


NEWS ALERT | Corporate firms say, they owe Rs 40,00 cr to MSMEs: Finance Secy

-- MCA has list of corporates who owe amount to MSMEs

NEWS ALERT | Banks disbursed loans worth Rs 81,781 crore between Oct 1-9 under 'loan mela': Finance Secy

-- Rs 34,343 cr disbursed to new entrepreneurs

-- Second 'loan mela' to begin from Oct 21-25

-- PSBs have sufficient liquidity 

-- Loans can be availed at prevailing prudential norms

Market check | Sensex trades near day's high ahead of FM's briefing


NEWS ALERT | FM's meeting with PSBs concludes: CNBC TV18

Market check | Nifty50 approaches 11,400-mark


NEWS ALERT | Sensex edges higher


NEWS ALERT | Mahendra Pratap Mall, CMD, IRCTC to CNB CTV18

-- Expect to maintain revenue and profit growth going ahead; convenience fee to have major impact on financials

-- Looking at entry into new segments like train operations; first train under Co's operation already running b/w Delhi and Lucknow

-- Catering gives margin of 15%, Tourism of 10%, packaged drinking water 12-13%

-- Will get additional revenue of Rs 300 cr in FY20 from internet ticketing

NEWS ALERT | PMC Bank Case: Rakesh Wadhawan, Sarang Wadhawan & Satyam Singh's policy custody extended: CNBC TV18

-- Sent to police custody till October 16

Infosys declines 4% on profit-booking by investors post Q2 results

Shares of Infosys dipped 4 per cent to Rs 781 in morning deals on the BSE on Monday as investors took to profit booking after the company reported September quarter (Q2FY20) results broadly in-line with the analysts expectations. Further, investors turned cautious as a stable guidance likely implies soft second half (October-March) or H2. READ REPORT HERE

Primary market investors have pocketed up to 140% returns in 2019

Out of 11 companies that got listed in 2019, eight have outrun the market by gaining more than 10 per cent against their respective issue price. MSTC and Sterling and Wilson Solar, however, have failed to give a positive return and are trading lower by 22 per cent and 19 per cent, respectively. READ MORE

MARKET CHECK | Top gainers on the BSE at present


Birlasoft gains 13% after it signs $240 mn multi-year deal with Invacare

Birlasoft will deliver IT‐as‐a‐ Service to Invacare, the world's leading manufacturer of wheelchairs, bariatric equipment, disability scooters, respiratory products and other homecare products. Invacare Corporation is a leading manufacturer and distributor in its markets for medical equipment used in non‐acute care settings. READ MORE 

HUL to announce Q2 results today. Here's what analysts expect

Hindustan Unilever (HUL) is expected to report muted numbers for the second quarter of the financial year 2020 (Q2FY20) due later in the day. The results come at a time when the consumer goods sector has been struggling against low growth for the past two quarters, primarily owing to the consumption slowdown in rural India. Going by the analysts' view, this trend is likely to continue. READ MORE   


MARKET CHECK | IRCTC extends gain


COMMENT | S Ranganathan, HoR, LKP Securities on IRCTC debut

IRCTC listing today proved yet again that a high quality business with a clear runway for growth which leaves a lot on the table for investors is a sure shot success. IRCTC has today managed to replicate the success of Avenue Supermart in the primary market where we saw bidders showing appetite for the stock even after the stock doubling on Day-1 of listing.

NEWS ALERT | Sept WPI inflation at 0.33% vs 1.08% MoM: CNBC TV18

-- Manufactured products inflation at (-) 0.42% vs 0% MoM

-- Core inflation at -1.1%

-- Food inflation at 5.98%

-- Vegetables inflation at 19.38%

NEWS ALERT | NCLAT puts payout of Rs 19,700 cr by JSW Steel for Bhushan Power on hold: CNBC TV18

-- NCLAT directs release of Bhushan Power's assets by ED;

-- The order says, ED to not attach any more assets of Bhushan Power till the case is pending 

Smaller investors head for the exit amid economic slowdown and poor returns

Session-wise data shows that smaller investors have been net sellers, more often than not, amid economic slowdown and poor returns over the recent past. The ratio of the number of sessions that witnessed net buying to those with net selling has been on the decline for such investors in recent times. It has dropped below 1x for the last two months in a row. READ MORE

DLF surges over 6%

-- Realty major DLF said it has sold 376 ready-to-move-in luxury flats worth Rs 700 crore on the first day of the launch of its new housing project in Gurugram, even as the overall property market is facing a demand slowdown.


Tata Motors gains over 5%


NEWS ALERT | Granules Board approves divestment of its entire stake in an overseas JV in China: BSE filing

-- Approves sale of stake in Granules-Biocause Pharmaceutical.

-- Says, conclusion of this transaction is subject to fulfillment of certain closing conditions as well as applicable regulatory approvals

Dipam keeps ball rolling for stake sale in Bharat Petroleum and others

The Department of Investment and Public Asset Management (Dipam) has invited transactions, legal advisors, and asset valuers for divesting stakes in five public-sector undertakings (PSUs) — Bharat Petroleum Corporation (BPCL), Container Corporation of India (Concor), Shipping Corporation (SCI), and power companies THDC India and North Eastern Electric Power Corporation (NEEPCO).
 
Even after six months of the current financial year, the government has been able to achieve only 12 per cent of its disinvestment target of Rs 1.05 trillion. READ MORE

NEWS ALERT | Decisions on HPCL stake sale are driven by market forces: Dharmendra Pradhan, Minister of Petroleum & Natural Gas

-- Says, ONGC is free to take its own decision at an appropriate time

Rate cuts may help sovereign bonds post modest gains despite fiscal woes

More rate cuts from Asia’s most accommodative central bank this year will help India’s sovereign bonds post modest gains despite the lingering fear of the government missing budget targets.
 
The yield on the new 10-year bond due in 2029 is likely to drop to 6.38 per cent by December-end, and further to 6.30 per cent by March, according to the median estimates in a Bloomberg survey of 12 traders and fund managers. It rose four basis points to 6.51 per cent on Friday. READ MORE

NEWS ALERT | Strongly appeal FM to include petroleum products under GST: Dharmendra Pradhan

-- Says, we should start with gas & ATF, which can be brought in under GST

-- Expect to garner $58 billion via exploration and production sector

(As reported by CNBC TV18)

IRCTC lists at Rs 644, 101% premium to issue price; should you book profit?

Post listing, the stock gained further to up to Rs 674, a 110 per cent premium to the issue price. Around 1.46 million equity shares changed hands on the BSE at 10:02 am.
 
The state-owned company raised Rs 645 crore through its initial public offer (IPO). The issue got huge response from all categories of investors. The IPO was subscribed a massive 112 times. The retail category was subscribed nearly 15 times while qualified institutional buyers (QIBs) segment got subscribed 109 times and non-institutional investors (NIIs) category 355 times. READ MORE

BUMPER LISTING | IRCTC's listing ceremony at BSE


Despite economic slowdown, realty majors hope to cash in on festivities

Despite the prolonged slowdown in the real estate sector, listed property developers are hoping to see a significant uptick in sales in the ongoing festive season.
 
Whether it is DLF in the National Capital Region (NCR), or Godrej Properties and Oberoi Realty in Mumbai or Sunteck Realty, Prestige Estates and Sobha Realty in Bengaluru, most top players have launched or lined up a slew of new project launches during this season. READ MORE

NEW LISTING | IRCTC lists at Rs 651/share against issue price of Rs 320


Adani Gas zooms 18% as French firm Total agrees to buy 37.4% stake

Shares of Adani Gas zoomed 18 per cent to Rs 162 on the BSE in early morning trade on Monday after the company said French energy giant Total SA would acquire 37.4 per cent stake in it. The stock was trading close to its 52-week high of Rs 184 touched on June 4, 2019. READ MORE

Market check | Indices volatile


Momentum Picks by ICICI Securities


HUL flat ahead of Q2 nos


Infosys slips 3% post Q2 result announcement


BUZZING STOCK | Adani Gas jumps over 13%


Top sectoral gainers and losers on the NSE


MARKET CHECK | Top gainers and losers on the S&P BSE Sensex


OPENING DEALS

At 09:17 am, the S&P BSE Sensex was trading 148 points or 0.39 per cent higher at 38,274.99 while NSE's Nifty50 index was ruling at 11,323.10, up 18 points or 0.16 per cent. 

NEWS ALERT | US court delivers verdict against UPL arm: BSE Filing

-- Delivers verdict in favour of AgroFresh who pursued litigation demanding $373 m towards unjust enrichment, lost profits & as punitive damages

-- UPL says it is disappointed in the jury's verdict & will seek to overturn it

Top gainers and losers on S&P BSE Sensex during Pre-open


Market at Pre-open


Market at Pre-open


Rupee Opening Alert

Rupee opens at 70.88/$ vs Friday's close of Rs 71.02/$

NEWS ALERT | Morepen Labs adds three new drugs: BSE Filing

-- Three new Drugs viz., Rivaroxaban (Cardiac Segment), Vildagliptin (Diabetes segment) and UDCA (for Liver ailments) added to API portfolio.
 
-- Commercial launch of all the three drugs announced by the company, supplies to commence soon. 

Regulatory woes resurface for Indian pharma companies as stocks fall

Just when the Street had begun to believe that the multi-year regulatory woes of Indian pharmaceutical companies were behind them, the worries have resurfaced pulling down their share prices.
 
The Nifty Pharma index, for instance, slipped 10 per cent in one month, against a gain of 2.4 per cent in the Nifty 50, after hitting a 73-month low of 7,047.10 intra-day last Wednesday. READ MORE

World Bank says slowdown in India is severe, cuts GDP forecast to 6%

The World Bank cut India’s economic growth forecast by the most among South Asian nations on Sunday, below the outlook pegged by the nation’s central bank for this year, mainly because of a deceleration in domestic demand.
 
India’s gross domestic product growth is projected at 6 per cent in the fiscal year started on April 1, compared with 7.5 per cent forecast in April and 6.8 per cent recorded a year earlier, the bank said in its latest South Asia Economic Focus report. Growth is expected to gradually recover to 6.9 per cent in 2020-21 and to 7.2 per cent in the following year, it said. READ MORE

India is paying price for repeated failure to fix banking system: Jan Dehn

As the September 2019 quarter results season gets underway and investors fine-tune their market exposure, London-based Jan Dehn, head of research at Ashmore Investment Management, tells Puneet Wadhwa that he is not bearish on Indian equities and the current problems in India are cyclical, but the banking issue. READ FULL INTERVIEW HERE
Jan Dehn, head of research at Ashmore Investment Management

PSUs lose 22% in 2019 amid market volatility and multiple headwinds

Public sector undertakings (PSUs) continued their slump on the bourses amid market volatility and multiple headwinds. In the year to date, 61 PSUs have lost an average of 22 per cent, with five companies losing more than half their share value. The BSE PSU index is down 10.6 per cent. READ MORE


IRCTC to make stock market debut today after raising Rs 645 cr in IPO

Indian Railway Catering and Tourism Corporation (IRCTC), which recently concluded its Rs 645-crore initial public offering, will make its stock market debut on Monday. The shares will be listed on the BSE and the National Stock Exchange (NSE).
 
"Effective from Monday, October 14, 2019, the equity shares of IRCTC Ltd shall be listed and admitted to dealings on the exchange in the list of 'B ' Group of Securities," BSE said in a circular. READ MORE

Stocks to watch: IRCTC, HUL, Infosys, Avenue Supermarts, Adani Gas, BoB

Here's a list of stocks that may trade actively in today's trading session -
 
IRCTC: Indian Railway Catering and Tourism Corporation (IRCTC), which recently concluded its Rs 645-crore initial public offering, will make its stock market debut on Monday. The shares will be listed on the BSE and the National Stock Exchange (NSE).
 
Corporate earnings: HUL, Delta Corp, and GTPL are among the prominent names that are slatrd to release their Septemeber quarter results today. READ MORE HERE

NEWS ALERT | Total Holdings to acquire stake in Adani Gas: BSE filing



NEWS ALERT | China’s exports to the United States fell 10.7% YoY: Reuters

-- China’s exports to the United States fell 10.7% from a year earlier in dollar terms in January-September, while U.S. imports dropped 26.4% during that period, a Chinese customs spokesman said on Monday.

Commodity picks: October 14, 2019

Soy bean
 
Weather across major soy bean producing regions is favourable for the harvest to be carried out. Also demand from processors are dull due to weak exports. Thus soy bean prices are expected to head towards Rs 3,650 per quintal from current levels of Rs 3,726 per quintal. READ MORE

Bulk deals on BSE as on Friday

Bulk deals on NSE as on Friday

FII/FPI & DII trading activity on NSE, BSE and MSEI


Market outlook and top two trading ideas by Prabhudas Lilladher

NIFTY VIEW
 
Nifty is fluctuating near the 200-DMA of 11,270 levels and as said earlier, has the downside major support of 11,070 which is where the 50-DMA lies. On the the upper side, the level of around 11,600 has to be breached for further fresh upward movement. However, the support for the week is seen at 37,380/11,060 while the resistance is seen at 38,900/11,560 levels. Bank Nifty would have the weekly range of 27,300-28,830 levels. Volatility is anticipated with the result season going on. READ MORE

Nifty outlook and trading ideas by CapitalVia: Buy Adani Power, Adani Ports

Markets traded volatile as Nifty managed to hold 11,200: Nifty likely to taste 11,500 soon
 
Markets traded with volatility on October 11, Friday, backed by the announcement of quarterly results for IT majors. Nifty is trading near its 200-day EMA which stands at 11,242 and has managed to hold this critical level. The index closed at 11,305 adding 70.50 points. IT, metal and reality stocks traded with positive sentiments throughout the day and gained the most among the indices. Nifty bank remained flat and gave a close at 28,042.50 gaining 29.05 points positive from the previous day’s closing. READ MORE HERE

Rupee Check

Source: Bloomberg


Oil check

-- Oil prices steadied after jumping on reports an Iranian state-owned oil tanker had been attacked in the Red Sea, Reuters reported.

-- At 8:13 am, Brent Crude Futures were at $60.21 per barrel

SGX Nifty

At 8:11 am, the Singaporean Exchange for Nifty Futrues were at 11,293 level, down 17 points.

Asian Market Check

Source: Reuters


US Market Check

Source: Reuters


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