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Sensex down 100 points; Nifty below 8250; SKS Micro gains 4%; Gati down 5%

The S&P BSE Sensex started on a cautious note on Tuesday tracking muted trend seen in other Asian markets.

ET Online|
Updated: Oct 20, 2015, 03.12 PM IST
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Market opens flat, Sensex above 27350 levels
NEW DELHI: The S&P BSE Sensex slipped over 100 points on Tuesday tracking muted trend seen in other Asian and European markets.

Nifty50 was also trading below its crucial support level at 8,250.

The broader market outperformed the benchmark indices, the BSE midcap index gained 0.65 per cent while the BSE smallcap rose 0.7 per cent. Among the sectoral indices, BSE Power was the top gainer.

Vedanta slipped about 7 per cent to become the top loser on the BSE Sensex after the reports suggested that their CEO Tom Albanese will step down post the announcement of second quarter earnings.

The shares of Gati slipped over 5 per cent in trade on the back of dissapointing Spetember quarter numbers while that of SKS Micro Finance surged over 4 per cent after impressive Q2 numbers.

The rupee depreciated 15 paise to 64.95 against the US dollar in early trade on Tuesday, in line with most other Asian currencies, as currency markets across the globe await a speech by the US Federal Reserve chair Janet Yellen scheduled later in the day.

The domestic currency had closed at 64.80 against the greenback on Monday amid dollar selling by banks and importers.

“We expect the Indian rupee to trade sideways this week, in the 64.50-65.1/dollar range. Foreign portfolio investors may take note of weak corporate earnings, as disinflation worries plague India Inc.’s revenue and profit,” said India Ratings in a note.

The European markets traded flat tracking similar trends seen in Asian markets. The German DAX edged lower by 0.7 per cent while the French CAC40 was down by 0.91 per cent. The pan-European Euro Stoxx 50 was down 0.8 per cent. Britain's FTSE100 index traded lower by 0.45 per cent.

Most other Asian markets traded mixed tracking cues from the US markets. Japan's Nikkei gained 0.3 per cent while South Korea's Kospi climbed 0.2 per cent. Hong Kong's Hang Seng index closed the day 0.5 per cent lower while China's Shanghai Composite closed 0.95 per cent higher.

Markets @ 03:00

Sensex: 27326.29, down 38 points; Nifty: 8262.55, down 12 points

Top Gainers:

TATA MOTORS (1.6%), TCS (1.5%), MARUTI SUZUKI (1.1%), INFOSYS LTD (0.9%), NTPC (0.6%)

Top Losers:

VEDANTA LTD (6.0%), TATA STEEL (2.9%), M&M (2.1%), CIPLA (2.1%), HINDALCO (2.0%)
BUZZING STOCKS:

Tata Motors surged over 4 per cent in intraday trade.

Jindal Stainless climbed over 15 per cent in intrday trade.

Gati slipped over 5 per cent in intraday trade post weak Q2 number

SKS Micro Finance surged over 4 per cent in intraday trade on the back of impressive Q2 results.

Reliance Power gained 7 per cent in intraday trade.

Torrent Power climbed over 6 per cent in intraday trade.

Gruh Finance slipped over 3 per cent in intraday trade.

Adani Power soared over 6 per cent in intraday trade.

Shree Renuka Sugars was up about 5 per cent in intraday trade.

Motilal Oswal climbed over 5 per cent in intraday trade.

WHAT TOP EXPERTS ARE SAYING:

Nifty likely to meet resistance at 8,400: Ashwani Gujral

Equity markets look rich in India; fundamentals to get better: Rabo Bank

RIL's credit metrics to improve after ongoing projects are completed: Moody's

Maintain Buy on Bharti Infra, cuts target to Rs 490 from Rs 530: BofA ML

Maintain Buy on Petro Net, target of Rs 220: Goldman Sachs

Maintain Outperform on UltrTech Cement, set target of Rs 3,525: Credit Suisse

Here is a list of fifteen stocks that are in focus today:

SKS Microfinance Ltd: SKS Microfinance posted a 37.2 per cent increase in its net profit at Rs 77.86 crore for the second quarter ended September 30, 2015.

Tata Communications Ltd: Tata Communications is looking at acquisitions to improve its product and solutions profile, even as it continues to evaluate various options including portfolio divestment in a bid to create long-term profitable business streams that are focused on data business.

Gati Ltd: Logistics services provider Gati Ltd reported 16.4 per cent drop in consolidated net profit at Rs 5.79 crore for the quarter ended September 30.

Apollo Hospitals Ltd: Apollo Health and Lifestyle, a subsidiary of Apollo Hospitals, has hired investment bank Spark Capital to manage divestment of 25 per cent stake to private equity funds as it seeks to raise Rs 500 crore to fund expansion.

Havells India Limited: A $1.4 billion leading Fast Moving Electrical Goods (FMEG) company said it is targeting a total revenue of Rs 500 crore by 2016 in Karnataka.

Dabur India Ltd: H&B Stores Ltd., a wholly owned subsidiary of Dabur India, will make its biggest investment in the beauty retail space by spending over Rs 100 crore on its chain NewU over the next two years.

Vedanta Ltd: Mining firm Sesa Sterlite said it aims to achieve its target of 5.5 million tonnes (MT) iron ore exports by March next year. Vedanta, which owns Sesa Sterlite, has named the falling global prices of iron ore as one of its biggest challenges.

Mangalore Chemicals and Fertilizers Ltd: MCFL reported a net loss of Rs 19.45 crore in the second quarter ended September 30, on sluggish sales.

Orient Cement Ltd: Diversified CK Birla group firm Orient Cement reported a 35.35 per cent decline in its net profit to Rs 28.01 crore for the September quarter due to lower income and higher expenses and finance costs.

Indian Hotels Ltd: The board of Indian Hotels Company, country's biggest hotel chain, today approved amalgamation of two of its wholly-owned subsidiaries into itself, said a media report.

Adani Ports and Special Economic Zone Ltd: APSEZ has signed a Memorandum of Understanding (MoU) with the India Pulses and Grains Association, to handle pulses import across its ports in the country. Hindustan Zinc Ltd: HZL reported a 5 per cent growth in its net profit at Rs 2,285.26 crore for the quarter ended September 30, 2015 helped by volume growth and cost optimisation.

Nestle India Ltd: Paving the way for Maggi noodles' return, Karnataka and Gujarat have lifted ban on manufacturing and sale of Nestle India's popular instant food brand, said a media report.

Hero MotoCorp Ltd: The two-wheeler maker is expected to report 2 per cent year-on-year fall in net profit to Rs 720 crore for the quarter ended September 30, compared to Rs 763 crore reported in the year ago period, said an ET Now Poll.

ACC Ltd: The company is expected to report 42.7 per cent YoY fall in net profit to Rs 117 crore for the quarter ended September 30, compared to Rs 205 crore reported in the year-ago period, according to Angel Broking estimates.

MARKETS THROUGH THE DAY:


Markets @ 2:20

Sensex: 27251.69, down 113 points; Nifty: 8240.20, down 37 points

Top Gainers:

TATA MOTORS (1.8%), TCS (1.1%), NTPC (0.9%), MARUTI SUZUKI (0.5%), INFOSYS (0.4%)

Top Losers:

VEDANTA (5.5%), HINDALCO (2.7%), CIPLA (2.2%), M&M (2.1%), TATA STEEL (2.0%)


Markets @ 01:00

Sensex: 27417.42, up 52 points; Nifty: 8288.10, up 13 points

Top Gainers:

TATA MOTORS (4.1%), NTPC (1.6%), TCS (1.5%), INFOSYS LTD (1.0%), MARUTI SUZUKI (0.8%)

Top Losers:

CIPLA (2.5%), VEDANTA LTD (1.5%), ONGC (1.3%), HIND. UNILEVER (1.1%), HINDALCO (0.9%)

Markets @ 12:00

Sensex: 27381.20, up 16 points; Nifty: 8282.40, up 7 points

Top Gainers:

TATA MOTORS (2.9%), NTPC (1.4%), TCS (1.4%), AXIS BANK (0.9%), INFOSYS (0.8%)

Top Losers:

CIPLA (2.6%), VEDANTA (2.1%), HINDALCO (1.4%), ONGC (1.3%), HUL (1.1%)

Markets @ 11:00

Sensex: 27395.62, up 30 points; Nifty: 8287.20, up 12 points

Top Gainers:

TATA MOTORS (2.1%), TCS (1.3%), NTPC (1.0%), L&T (0.9%), GAIL (0.8%)

Top Losers:

CIPLA (2.9%), HINDALCO (1.5%), VEDANTA (1.3%), ONGC (1.1%), ITC (0.8%)

Markets @ 10:00

Sensex: 27,377.56, up 12 points; Nifty: 8279.00, up 4 points

Top Gainers:

TATA MOTORS (1.7%), TCS (1.5%), NTPC (0.9%), GAIL (0.8%), BHEL (0.8%)

Top Losers:

CIPLA (2.9%), HINDALCO (1.2%), ONGC (1.1%), VEDANTA LTD (1.0%), BHARTI AIRTEL (1.0%)

Markets @ 9:20

The 30-share index was trading at 27,350, down 14 points or 0.05 per cent. It touched a high of 27,409.45 and a low of 27,336.95 in morning trade.

The Nifty50 was at 8,268, down 10 points or 0.10 per cent. It touched a high of 8,282.35 and a low of 8,262.70 in the first 30 minutes of trade.

The S&P BSE Midcap Index was up 0.37 per cent and BSE S&P Smallcap Index edged higher by 0.34 per cent.

Lupin (up 0.95 per cent), Dr Reddy’s Laboratories (up 0.63 per cent), Infosys (up 0.6 per cent), and Tata Motors (up 0.53 per cent) were among the major Sensex gainers.

Vedanta (down 1.2 per cent), Bharti Airtel (down 0.8 per cent), Tata Steel (down 0.8 per cent), ONGC (down 0.91 per cent), and RIL (down 0.75 per cent) were among the major Sensex losers.

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