Sensex Today: Share market ends in red, Sensex ends 229 points lower; Nifty at 11,840

businesstoday.in | Updated Nov 13, 2019, 03:45 PM IST

Share Market Today: Domestic benchmark indices Sensex and Nifty fell further by the last hour of trade to close 0.60% lower each on Wednesday, backed by heavy selling pressure in media, banking and realty stocks. While Sensex closed 229 points lower at 40,116 level, Nifty ended the day's trade at 11,840, declining 73 points. Sectorally, all the indices closed in the red with 3-4% declines registered in media and PSU banking stocks, followed by 2% fall in metal stocks and nearly 2% fall in pharma, realty and banking scrips. While Yes Bank, GAIL, Zee Entertainment, Adani Ports and Grasim were among the top losers on the Nifty at the closing bell today, best performers on Nifty were Britannia Industries, TCS, Reliance Industries, Nestle and Bajaj Finserv.

Share Market: While Yes Bank, GAIL, Zee Entertainment, Adani Ports and Grasim were among the top losers on the Nifty at the closing bell today, best performers on Nifty were Britannia Industries, TCS, Reliance Industries, Nestle and Bajaj Finserv.

Nov 13, 2019 8:44 AM IST

Last closing on Monday

Benchmark indices on Monday ended marginally higher after a negative trading day on weak global equities amid diminishing US-China trade deal hopes. While BSE Sensex ended 21 points higher at Rs 40,345, Nifty rose 5 points to 11,913.

In global cues, the 16-month trade war between the world's two biggest economies diminished investor's sentiments as uncertainty still remained over whether the United States and China could end their damaging trade war.

Sensex Today Update: Sensex closes 21 points higher, Nifty holds 11,900; YES Bank, Tata Motors, ICICI Bank top gainers

Nov 13, 2019 8:48 AM IST

Wall Street closed higher on Tuesday

U.S. stocks mostly finished higher as Nasdaq and S&P 500 on Tuesday after President Trump suggested a trade deal with China could happen soon but did not offer clarity on a rollback of import tariffs.

Nov 13, 2019 8:53 AM IST

Another whistleblower complaint for Infosys CEO

Another whistleblower complaint has surfaced against global software major Infosys' CEO Salil Parekh, accusing him of working in violation of the company norms. The whistleblower questioned why the Infosys board had been silent on the matter so far.

"Though it is a year and 8 months since Parekh joined the company, he operates from Mumbai in violation of the condition that the CEO has to be based in Bengaluru and not Mumbai. What is stopping the board to insist on his movement to Bengaluru," the letter, accessed by IANS through sources on Monday night, says.

Infosys CEO Parekh spent Rs 22 lakh on personal travel: whistleblower

Nov 13, 2019 8:55 AM IST

Nomura predicts lowest by far GDP growth for India

Japanese brokerage Nomura on Friday massively cut its GDP forecast to a low 4.9 percent for the year from 5.7 percent earlier, saying the economy is going through a 'deeper trough' and even a sub-par recovery is at least a year away.

The negative forecast came at a time when the international rating agency Moody's has revised down the outlook on the sovereign rating to negative from positive citing the many gathering storms around the economy, which is topped by the falling growth rate.

Slowdown Blues: Japan's Nomura predicts 4.9% India GDP growth, lowest by far

Nov 13, 2019 8:56 AM IST

Tata Motors' India operations face acute challenges: Moody's

Tata Sons infusing USD 914 million (around Rs 6,542 crore) equity in Tata Motors is credit positive for the company but the country's largest automobile manufacturer faces acute challenges in sluggish economic growth, weak liquidity, and tight financing norms, Moody's Investors Service said on Tuesday.

Moody's assigned a Ba3 rating to the proposed senior unsecured notes to be issued by Tata Motors. The rating outlook is negative, Moody's said in a statement.

Tata Motors' India operations face acute challenges, says Moody's

Nov 13, 2019 8:58 AM IST

SBI predicts India's GDP growth at record low of 4.2%

State Bank of India, the country's largest lender, has predicted that India's Gross Domestic Product (GDP) growth may slip to a record low of 4.2 per cent in the second quarter amid low automobile sales, deceleration in air traffic movements, flattening of core sector growth and declining investment in construction and infrastructure.

India GDP growth has already hit a 6-year low of 5 per cent during June quarter of this fiscal (Q1FY20).

SBI cuts India's GDP growth forecast to 4.2% for Q2, 5% for FY20

Nov 13, 2019 9:01 AM IST

Lupin Pharma sells entire stake in Japanese arm Kyowa

Lupin Pharma has sold the entire stake in its Japanese subsidiary Kyowa to Plutus Ltd, Japan, an entity affiliated with private equity firm Unison, in an all-cash transaction for $300 million. While Lupin is fourth-largest drugmaker in India, Kyowa is Japan's sixth major generic drugmaker.

"The deal proceeds will be utilised to strengthen Lupin's balance sheet as well as provide growth capital to support organic and inorganic initiatives for our focus markets," Vinita Gupta, CEO, Lupin, said.

After the stake sale, Lupin will not have any equity interest (direct or indirect) and managerial or indirect control over Kyowa.

Lupin Pharma sells entire stake in Japanese arm Kyowa to Unison for Rs 2,103 crore

Nov 13, 2019 9:05 AM IST

Earnings due on Wednesday

Companies that are schedued to post their September quarter results today are namely HUDCO, Coffee Day Enterprises, BHEL, RITES, Adani Power, Cadila Healthcare, ABB India, IRCTC, Pidilite Industries, NALCO, RCF, Sintex Industries, Thermax, Bajaj Hindusthan, New India Assurance, Blue Star, Bata India, Sadbhav Infrastructure, Ashoka Buildcon, Jagran Prakashan, Lemon Tree Hotels, Mphasis, Balaji Telefilms, Adani Green Energy, Deepak Fertilizers, Muthoot Finance among others

Nov 13, 2019 9:08 AM IST

Pre-open trade: Sensex, Nifty turn volatile

Domestic benchmark indices started on a marginally positive note in the pre-open session, although both indices gave up gains soon. BSE Sensex traded 6 points lower 40.338 and NSE Nifty traded 5 points lower at 11,898.

Nov 13, 2019 9:16 AM IST

Oil prices decline

Oil prices fell, with brent crude falling 0.13 points to 61.93 USD at 0530 IST as diminishing prospects for an immediate resolution to a 16-month long trade war between the world’s two-largest economies suggested less demand for energy in the future.

Nov 13, 2019 9:20 AM IST

Rupee opens lower

Indian rupee, the domestic benchmark currency opened lower 71.75 per dollar, the lowest level since September 17, amid US China trade deal uncertainty and weak opening of the domestic markets. Indian rupee had closed at a one month low level of 71.45 against the US dollar.

Nov 13, 2019 9:22 AM IST

Market opens flat-to-positive

With markets opening on Wednesday at 0918IST, BSE Sensex is seen rising 30 points to 40,374 level and NSE Nifty is currently trading flat at the last closing value of 11,913.20.

Nov 13, 2019 9:25 AM IST

Trump says China trade deal 'close' but dashes hopes for signing details

President Donald Trump on Tuesday dangled the prospect of completing an initial trade deal with China “soon,” but offered no new details on negotiations in a campaign-style speech touting his administration’s economic record.

Trump said U.S. and Chinese negotiators were “close” to a “phase one” trade deal, but largely repeated well-worn rhetoric about China’s “cheating” on trade. “They are dying to make a deal. We’re the ones that are deciding whether or not we want to make a deal,” Trump said, echoing remarks he made on Saturday.

(Reuters)

Nov 13, 2019 9:33 AM IST

Market Update

Amid weakness in global markets, domestic benchmark indices Sensex and Nifty opened on a tepid note on Wenesday and turned marginally positive, backed by bullish sectoral indices. While Sensex has risen 50 points 40,400 level, Nifty50 currently trades 13 points higher at 11,926 level.

Nov 13, 2019 9:38 AM IST

Sectors Today

Sectorally, strength in metal, pharma, FMCG and auto sectors helped the broader indices gain momentum, while weakness in IT, media, banking and realty indices dragged market further down.

Nov 13, 2019 9:41 AM IST

Britannia top gainer on NSE post Q2 results

On NSE, share price Britannia Industries was the top gainer on Wednesday's early trade, rising over 4% after the Packaged Foods' sector firm reported healthy September earnings on Monday.

Food company Britannia Industries Ltd on Monday posted 32.90% rise in consolidated net profit to Rs 402.73 crore for September quarter as compared to Rs 303.03 crore recorded during the July-September period a year ago.

Company's net sales rose 5.88% to Rs 3,022.91 crore during the September quarter as against Rs 2,854.81 crore of the corresponding quarter previous fiscal.

Nov 13, 2019 9:44 AM IST

Aurobindo Pharma rises 3% post Q2 results

Shares of Aurobindo Pharma opened with a gain of 2.38% today and later rose 3.55% to the intraday high of Rs 453.15 on the BSE on Wednesday as the company posted healthy September earnings on Monday.

Aurobindo Pharma Limited reported 4.6% rise in its consolidated net profit for the September quarter to Rs 639.5 crore compared to Rs 611.4 crore recorded in the Q2 FY19.

Company's revenue from operations rose nearly 18% to Rs 5600.5 crore as against Rs 4,751.4 crore recorded during the same period last fiscal.

Nov 13, 2019 9:55 AM IST

Vodafone shares 7% lower as CEO says Vodafone India's future in doubt

Vodafone shares traded 7.5% lower to the day's low of Rs 3.70 on the BSE, against the last closing value of Rs 4, after the telecom gainst said its future in India could be in doubt unless the government stopped hitting operators with higher taxes and charges.

Chief Executive Nick Read said India, where Vodafone formed a joint venture with Idea Cellular in 2018, had been "a very challenging situation for a long time", but it remained a sizable market where Vodafone had a 30% share.

Asked if it made sense for Vodafone to remain in India without any relief package, he said: "It's fair to say it's a very critical situation."

On Monday, shares of Vodafone closed 5.82% higher to Rs 4 apiece on the BSE.

Vodafone's future in India in doubt after AGR ruling, says CEO Nick Read

Nov 13, 2019 10:00 AM IST

Adani Ports rises 1% post Q2 results

Shares of Adani Ports and Special Economic Zone (APSEZ) rose 1% high to the day's high of Rs 391.55 on the BSE, against the last close of Rs 387.55 as the company posted 72.4% increase in consolidated profit at Rs 1,059.20 crore for the quarter ended September 30, 2019 compared to Rs 614.23 crore during same quarter in a year-ago period.

Company's total income during the September quarter increased to Rs 3,326.90 crore against Rs 2,922.32 crore in the year-ago period.

Nov 13, 2019 10:02 AM IST

Adani Gas rises over 2% post Q2 results

Shares of Adani Gas rose 2.26% to touch an intraday high of Rs 151.5 on the BSE after the company reported more than doubling of its second quarter net profit on lower tax rate.

Company's consolidated net profit in July-September stood at Rs 120.06 crore compared to Rs 50.66 crore reported in the same period a year back, while its revenue from operations jumped 12% to Rs 502.82 crore yearly.