Market updates| Sensex, Nifty trend today| Stocks news
Market updates today, Sensex & Nifty trend today for the day and Stocks in the News
It was a positive start for the Indian stock market today, Sensex and Nifty Trend was up. In the morning the global market was trading in green and indication from SGX Nifty was also positive. In the end, the benchmark indices closed in the positive zone today.
The Global market was trading higher today in the hope that the US and China could soon sign the phase one trade agreement. Both countries could end their eighteen months old trade war at any time in the month of November 2019.
The Sensex and Nifty trend today:
Today Sensex and Nifty trend was positive, Nifty gained 23.35 points and closed at 11895.45 whereas Sensex gained 70.21 points and closed at 40,356.69. The PSU Banks were positive today, it lifted the NSE banking index which gained 258.40 points and closed above 31000.
The Nifty midcap 100 index gained 52.65 points or 0.31% and closed at 16803.85. The smallcap 100 index of nifty closed almost flat at 5675.25 or 10 points down.
The top five gainers in the Nifty50 stocks are Bharti Infratel, Bharti Airtel, SBI, Grasim and Cipla. The losers in the Nifty50 stocks are IOC, Heromotor Corp, BPCL, Maruti Suzuki and Vedanta.
The top gainers in the Nifty midcap index are Glenmark, Cholamandalam and the losers are Reliance Capital and Dewan Housing Finance. The gainers in the nifty smallcap index are Credit Access Gr, Lakshmi Machine and the losers are Forties Health, MOIL
The sectors which closed in green today in NSE are Banks, Telecom, Constructions & materials, Manufacturing and Healthcare. The sectors which closed in red today are IT & software, Power, Insurance, FMCG and Aviation.
Stocks in News
The USFDA issued 4 observations to Cipla, it conducted a routine cGMP (current Good Manufacturing Practice) inspection for both formulations and APIs at a company manufacturing facility in Patalganga from Nov4 to Nov13, 2019. The share price of Cipla gained 2.63% and closed at Rs 463.25 per share.
The executive committee of the Central Board of Directors of the SBI at its meeting has given final approval for disinvestment of SBI stake in SBI cards up to 4% through IPO by way of offer for sale. The offer is subject to the SEBI’s approval. The share price of SBI gained 5.20% and closed at Rs 321.90 per share.
UPL through its step-down overseas subsidiary has entered into definitive agreements to acquire 100% shares of Yoloo (laoting) Biotechnology co.Ltd. An agrochemical company based in Beijing China. The share price of UPL fell 0.98% and closed at Rs 530.30 per share.
The USFDA has issued no observations to Divis Lab for its Unit-1 facility at Telangana. It has been inspected between 11th Nov to 15th Nov 2019. The share price of Devi’s Lab gained 5.51% and closed at Rs 1747.70 per share.
The Supreme Court’s Verdict on Essar Steel has rallied the PSU Banking sector. Supreme court has set aside the NCLT judgment, saying the ultimate discretion on distribution of funds is with the Committee of creditors (COC) which is favorable to lenders. The PSU Banks rallied 1-8% in the morning on this verdict.
L&T Finance Holdings has intimated a stake sale in the capital market subsidiary. The share price of L&T Finance Holding gained 1.83% and closed at Rs 97.60 per share.
The stocks in news due to Q2 earnings
Glenmark Pharma reported a consolidated net profit to Rs 255.54 crore for the September end quarter. The company reported Rs 414 crore net profit in the same period last year. The net sales up 9% at Rs 2763.73 crore as against Rs 2539.85 crore in the last year same period. The share price of Glenmark Pharma gained 6.72% and closed at Rs 301 per share
The Sunil Mittal led telecom giant reported a massive loss of Rs 23,044.9 crore in September end quarter. It dented by exceptional loss for license fee and spectrum usage charge (SUG) especially after unfavorable verdict from the Supreme Court on adjusted gross revenue (AGR) dues.
The Bharti Airtel reported a loss of Rs 2866 crore in the last (June) quarter in FY20 and Rs 118.8 crore profit the last year same period. The share price of Bharti Airtel gained 8.43% and closed at Rs 393.05 per share.
ITD Cementation reported a 21% drop in consolidated net profit. The sales grew by 14.3% to Rs 709.12 crore in FY20Q2 against Rs 620.38 crore in the same period last year. The share price of ITD Cementation declined by 3.51% and closed at Rs 52.25 per share.
The FY20 Q2 net profit of Reliance Power declined by 69.4% at Rs 45.1 crore and its revenue was down 6% at Rs 2019.6 crore. The Share price of Reliance Power locked at 5% lower circuit.
The PC Jeweller reported in FY20Q2 its net profit down 51.2% at Rs 46.4 crore as against Rs 95 crore in the same period last year. The share price of PC Jeweller fell 4.74% and closed at Rs 32.15.
Crude and Rupee Updates
After the US Crude inventories fell, crude oil price rises. As per OPEC’s outlook, the crude producer group and its associates will manage to curb the supply of crude in next year. This will increase the demand for Crude Oil prices. The Brent crude oil future is currently trading at $61.80 per barrel down almost 0.80%. The Indian rupee is closed at Rs 71.79 against the US dollar today.
Conclusions:
Indian stock market ended in a positive note today. Today Nifty and Bank Nifty trend was positive and was trading volatile in a tight range. Nifty has given a movement of 94.40 and Bank Nifty 304.75.
Almost all large and Nifty50 stocks Q2 earnings were reported, some mid and small earnings are yet to be announced. Monday market will open as per global cues investors and traders should follow SGX Nifty for the Monday morning opening.
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