The market made a faltering start to the week ahead of the expiry of futures and options contracts for April series due Thursday with Oil Marketing Companies (OMCs) and financial stocks dragging the indices down on Monday. Index heavyweight Reliance Industries (RIL) slipped 3 per cent on Monday after the company announced its March 2018 quarter results on Thursday. At the current levels, the stock factors in most positives, said leading brokerages. READ MORE ON RIL HERE
The headline index, S&P BSE Sensex lost 495 points or 1.26 per cent to settle at 38,645, with YES Bank being the biggest loser and Bharti Airtel the top gainer. Out of 31 components, 25 scrips ended in the red and rest five in the green.
The broader Nifty50 index of the National Stock Exchange (NSE) lost 158 points or 1.35 per cent to end at 11,594.
In the broader market, the S&P BSE Midcap index slipped 235 points or nearly 1.53 per cent to close at 15,148 while the S&P BSE Smallcap index ended at 14,804, down around 217 points or 1.44 per cent.
A 3 per cent jump in oil prices amid weak global cues also dented sentiment. Asian shares slipped on Monday, weighed down by underperforming Chinese stocks, while oil prices rallied on news the United States is likely to ask all importers of Iranian oil to end their purchases or face sanctions. MSCI’s broadest index of Asia-Pacific shares outside Japan lost 0.3 percent, edging away from a nine-month peak scaled last week. The Shanghai Composite Index was down 1.3 percent, South Korea’s KOSPI edged down 0.2 percent and Japan’s Nikkei was little changed.
BUZZING STOCKS
Dewan Housing Finance Corporation (DHFL) shares plunged 11 per cent to end the day at Rs 140, extending its Thursday’s 8 per cent decline after rating agency CRISIL downgraded credit rating of the company's commercial paper and continued on watch negative. READ MORE
Shares of state-owned oil marketing companies (OMCs) such as Hindustan Petroleum Corporation (HPCL), Bharat Petroleum Corporation (BPCL) and Indian Oil Corporation (IOC) dipped almost 6 per cent after a steep rise in the crude oil prices. READ MORE
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04:03 PM
MARKET COMMENT :: Jagannadham Thunuguntla, senior vice president, head research (wealth), Centrum Broking
Indian markets had a rough day today, on the back of sharp rise in crude oil price above US$74 per barrel. As a significant importer of crude oil, the high oil price is not good for Indian macros. Further, after breath-taking rally of past two months, a correction was due in the Indian markets; and crude oil has triggered it. Further, ongoing results season has provided mixed performance till date. For the markets to sustain at elevated levels, it’s very important for Indian corporate earnings to remain robust
03:47 PM
Sectoral indices at close
03:44 PM
Top losers of the day
COMPANY PRICE(RS) CHG(RS) CHG(%) VOLUME
PC JEWELLER 128.00 -17.20 -11.85 5276643
DEWAN HSG. FIN. 139.05 -18.15 -11.55 2691416
RELIANCE CAPITAL 137.20 -14.55 -9.59 3198681
INDIABULLS HOUS. 728.10 -72.15 -9.02 627751
SPICEJET 125.25 -11.00 -8.07 9121684
» More on Top Losers
03:40 PM
Market check
03:38 PM
Nifty at close
03:36 PM
Market at close
03:34 PM
Market at close | NSE Nifty sheds 161 points to close at 11,591
03:33 PM
Market at close | BSE Sensex closes 495 lower at 38,645
03:31 PM
Jet Airways sees sharp recovery, up 0.6%
03:26 PM
Market at Day's low | Nifty loses 166 points, or 1.41%, to trade at 11,587
03:25 PM
Market at Day's low | Sensex sheds 504, or 1.29%, to trade at 38,635.90
03:04 PM
MARKET CHECK
02:55 PM
Nifty Private Bank index is trading almost 1.8% lower
02:42 PM
NEWS ALERT | Gruh Finance to consider raising fund on April 30
02:37 PM
Mahindra Life Q4 results: Revenue up 44.8% at Rs 234.3 crore YoY
02:37 PM
Mahindra Life Q4 results: Net profit down 34.5% at Rs 31.3 crore YoY
02:36 PM
Mahindra Life Q4 results: EBITDA margin at 3.5% vs 14.1% YoY
02:36 PM
Mahindra Life Q4 results: EBITDA down 64.4% at 8.1 cr YoY
02:27 PM
Trump administration to eliminate Iran oil waivers after May 2 expiration
The Trump administration won’t renew the waivers that let countries buy Iranian crude oil without facing U.S. sanctions, according to four people familiar with the matter, a move that could roil energy markets and risks upsetting major importers such as India and China. Secretary of State Michael Pompeo will announce the decision on Monday morning along with announcing commitments from other suppliers, including Saudi Arabia and the United Arab Emirates, that will offset the loss of Iranian crude on the market, according to two of the people. READ MORE
02:18 PM
Stock Alert | KPR MIlls up nearly 5% after Co is likely to consider buyback
02:13 PM
Rupee check | Domestic currency trades at day's high, appreciates to Rs 69.5 per Dollar
rupee dollar
One of the reasons why the rupee is appreciating against the dollar is because the RBI has minimised its intervention in the currency markets
02:01 PM
ICICI Securities on Wipro
Continued strength in digital and healthy deal pipeline commentary would act as the main growth drivers for Wipro. Additionally, room for margin revision, healthy capital allocation policy and reasonable valuation prompt us to recommend BUY on Wipro. Hence, we revise target price to Rs 315 per share (~16x FY21E EPS).
01:59 PM
Dun and Bradstreet Business Optimism Index Report
Key Highlights:
1. Dun & Bradstreet Composite Business Optimism Index stands at 78.4 during Q2 2019, an increase of 6.3% as compared to Q1 2019.
2. Optimism for net profits stands at 69% - an increase of 6 percentage points as compared to Q1 2019
3. Optimism for new orders stands at 63% - the same level as in Q1 2019
4. Optimism for volume of sales stands at 74% - an increase of 3 percentage points as compared to Q1 2019
5. Optimism for selling prices stands at 23% - an increase of 4 percentage points as compared to Q1 2019.
01:57 PM
DHFL plunges 19% in two days after CRISIL's credit rating downgrade
Dewan Housing Finance Corporation (DHFL) shares plunged 11 per cent to Rs 139 on BSE in intra-day trade on Monday, extending its Thursday’s 8 per cent decline after rating agency CRISIL downgraded credit rating of the company's commercial paper and continued on watch negative. At 01:28 pm, the stock was top loser among S&P BSE 500 index constituents. In comparison, the benchmark S&P BSE Sensex was down 0.88 per cent at 38,795 points. READ MORE
DHFL
01:46 PM
NEWS ALERT | Piccadily Agro Industries said Haryana State Pollution Control Board has ordered closure of its distillery unit for making the compliance of certain pollution norms.
01:33 PM
Market check | Nifty IT gains on back of depreciated rupee, all other indices fall over 1%
01:18 PM
DHFL tumbles almost 9%
01:09 PM
HPCL falls more than 6%
01:01 PM
BSE Sensex gainers and losers
12:57 PM
Market check | Sensex sheds over 300 points
The headline index, S&P BSE Sensex lost 495 points or 1.26 per cent to settle at 38,645, with YES Bank being the biggest loser and Bharti Airtel the top gainer. Out of 31 components, 25 scrips ended in the red and rest five in the green.
The broader Nifty50 index of the National Stock Exchange (NSE) lost 158 points or 1.35 per cent to end at 11,594.
In the broader market, the S&P BSE Midcap index slipped 235 points or nearly 1.53 per cent to close at 15,148 while the S&P BSE Smallcap index ended at 14,804, down around 217 points or 1.44 per cent.
A 3 per cent jump in oil prices amid weak global cues also dented sentiment. Asian shares slipped on Monday, weighed down by underperforming Chinese stocks, while oil prices rallied on news the United States is likely to ask all importers of Iranian oil to end their purchases or face sanctions. MSCI’s broadest index of Asia-Pacific shares outside Japan lost 0.3 percent, edging away from a nine-month peak scaled last week. The Shanghai Composite Index was down 1.3 percent, South Korea’s KOSPI edged down 0.2 percent and Japan’s Nikkei was little changed.
BUZZING STOCKS
Dewan Housing Finance Corporation (DHFL) shares plunged 11 per cent to end the day at Rs 140, extending its Thursday’s 8 per cent decline after rating agency CRISIL downgraded credit rating of the company's commercial paper and continued on watch negative. READ MORE
Shares of state-owned oil marketing companies (OMCs) such as Hindustan Petroleum Corporation (HPCL), Bharat Petroleum Corporation (BPCL) and Indian Oil Corporation (IOC) dipped almost 6 per cent after a steep rise in the crude oil prices. READ MORE
CATCH ALL THE LIVE UPDATES
Auto Refresh
04:03 PM
MARKET COMMENT :: Jagannadham Thunuguntla, senior vice president, head research (wealth), Centrum Broking
Indian markets had a rough day today, on the back of sharp rise in crude oil price above US$74 per barrel. As a significant importer of crude oil, the high oil price is not good for Indian macros. Further, after breath-taking rally of past two months, a correction was due in the Indian markets; and crude oil has triggered it. Further, ongoing results season has provided mixed performance till date. For the markets to sustain at elevated levels, it’s very important for Indian corporate earnings to remain robust
03:47 PM
Sectoral indices at close
03:44 PM
Top losers of the day
COMPANY PRICE(RS) CHG(RS) CHG(%) VOLUME
PC JEWELLER 128.00 -17.20 -11.85 5276643
DEWAN HSG. FIN. 139.05 -18.15 -11.55 2691416
RELIANCE CAPITAL 137.20 -14.55 -9.59 3198681
INDIABULLS HOUS. 728.10 -72.15 -9.02 627751
SPICEJET 125.25 -11.00 -8.07 9121684
» More on Top Losers
03:40 PM
Market check
03:38 PM
Nifty at close
03:36 PM
Market at close
03:34 PM
Market at close | NSE Nifty sheds 161 points to close at 11,591
03:33 PM
Market at close | BSE Sensex closes 495 lower at 38,645
03:31 PM
Jet Airways sees sharp recovery, up 0.6%
03:26 PM
Market at Day's low | Nifty loses 166 points, or 1.41%, to trade at 11,587
03:25 PM
Market at Day's low | Sensex sheds 504, or 1.29%, to trade at 38,635.90
03:04 PM
MARKET CHECK
02:55 PM
Nifty Private Bank index is trading almost 1.8% lower
02:42 PM
NEWS ALERT | Gruh Finance to consider raising fund on April 30
02:37 PM
Mahindra Life Q4 results: Revenue up 44.8% at Rs 234.3 crore YoY
02:37 PM
Mahindra Life Q4 results: Net profit down 34.5% at Rs 31.3 crore YoY
02:36 PM
Mahindra Life Q4 results: EBITDA margin at 3.5% vs 14.1% YoY
02:36 PM
Mahindra Life Q4 results: EBITDA down 64.4% at 8.1 cr YoY
02:27 PM
Trump administration to eliminate Iran oil waivers after May 2 expiration
The Trump administration won’t renew the waivers that let countries buy Iranian crude oil without facing U.S. sanctions, according to four people familiar with the matter, a move that could roil energy markets and risks upsetting major importers such as India and China. Secretary of State Michael Pompeo will announce the decision on Monday morning along with announcing commitments from other suppliers, including Saudi Arabia and the United Arab Emirates, that will offset the loss of Iranian crude on the market, according to two of the people. READ MORE
02:18 PM
Stock Alert | KPR MIlls up nearly 5% after Co is likely to consider buyback
02:13 PM
Rupee check | Domestic currency trades at day's high, appreciates to Rs 69.5 per Dollar
rupee dollar
One of the reasons why the rupee is appreciating against the dollar is because the RBI has minimised its intervention in the currency markets
02:01 PM
ICICI Securities on Wipro
Continued strength in digital and healthy deal pipeline commentary would act as the main growth drivers for Wipro. Additionally, room for margin revision, healthy capital allocation policy and reasonable valuation prompt us to recommend BUY on Wipro. Hence, we revise target price to Rs 315 per share (~16x FY21E EPS).
01:59 PM
Dun and Bradstreet Business Optimism Index Report
Key Highlights:
1. Dun & Bradstreet Composite Business Optimism Index stands at 78.4 during Q2 2019, an increase of 6.3% as compared to Q1 2019.
2. Optimism for net profits stands at 69% - an increase of 6 percentage points as compared to Q1 2019
3. Optimism for new orders stands at 63% - the same level as in Q1 2019
4. Optimism for volume of sales stands at 74% - an increase of 3 percentage points as compared to Q1 2019
5. Optimism for selling prices stands at 23% - an increase of 4 percentage points as compared to Q1 2019.
01:57 PM
DHFL plunges 19% in two days after CRISIL's credit rating downgrade
Dewan Housing Finance Corporation (DHFL) shares plunged 11 per cent to Rs 139 on BSE in intra-day trade on Monday, extending its Thursday’s 8 per cent decline after rating agency CRISIL downgraded credit rating of the company's commercial paper and continued on watch negative. At 01:28 pm, the stock was top loser among S&P BSE 500 index constituents. In comparison, the benchmark S&P BSE Sensex was down 0.88 per cent at 38,795 points. READ MORE
DHFL
01:46 PM
NEWS ALERT | Piccadily Agro Industries said Haryana State Pollution Control Board has ordered closure of its distillery unit for making the compliance of certain pollution norms.
01:33 PM
Market check | Nifty IT gains on back of depreciated rupee, all other indices fall over 1%
01:18 PM
DHFL tumbles almost 9%
01:09 PM
HPCL falls more than 6%
01:01 PM
BSE Sensex gainers and losers
12:57 PM
Market check | Sensex sheds over 300 points
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