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Mid Session
Home >> Markets >> Equity >> News >> Mid Session Detailed News
Benchmarks hit fresh intraday high
(13:34, 09 Oct 2019)

Key equity benchmarks further extended gains and hit an intraday high in afternoon trade. At 13:30 IST, the barometer index, the S&P BSE Sensex rose 396.31 points or 1.06% at 37,928.29. The Nifty 50 index also advanced 108.45 points or 0.97% at 11,234.85.

Investors built fresh positions ahead of the onset of the Q2 results season. IndusInd Bank and TCS will declare Q2 results on Thursday, 10 October 2019. Infosys will announce Q2 result on Friday, 11 October 2019.

The S&P BSE Mid-Cap index was up 0.77%. The S&P BSE Small-Cap index rose 0.48%.

The market breadth was negative. On the BSE, shares 1,074 rose and 1,205 shares fell. A total of 165 shares were unchanged.

Bharti Airtel (up 5.24%), IndusInd Bank (up 4.49%), Ultratech Cement (up 3.99%), Mahindra & Mahindra (up 3.43%) and ICICI Bank (up 3.23%) advanced.

HCL Technologies (down 2.31%), Hero MotoCorp (down 1.53%), ITC (down 1.29%), Zee Entertainment Enterprise (down 0.87%) and Reliance Industries (down 0.20%) declined.

Tata Motors rose 0.81%. The auto major said that Jaguar Land Rover (JLR) retail sales for the quarter ending 30 September 2019 were 128,953 vehicles, down 0.7% compared to the same period a year ago. Jaguar retail sales for the quarter were 37,323 vehicles, down 11% year-on-year and Land Rover retails were 91 ,630 vehicles, up 4.2% year-on-year. The announcement was made after market hours on Monday, 7 October 2019.

Titan Company lost 3.23% after the company in its Q2 update said the jewellery division witnessed a sharp fall in sales after a sudden surge in gold prices dented the consumer demand from mid-June. While retail sales declined in July, between August & September the retail growth was 15% YOY over the same period in the previous financial year possible due to an enhanced level of promotions & schemes.

Weak consumer sentiments led to moderation in growth rate of the watches division to 7% for the quarter and 13% for the half year. The eye wear division witnessed robust growth of 28% for the quarter, partly aided by the participation in Essilor's offer of 'Buy One Get One'.

TCS fell 0.97%. TCS has been selected by Pandora, a world-leading jewellery design and manufacturer, based in Copenhagen, as a strategic IT partner. Further, TCS has expanded its strategic partnership with Legal & General, UK. The strategic partnership with TCS will help L&G build an intelligent and automated digital workspace aligned to its business vision.

Infosys was down 0.59%.

Shares of Piramal Enterprises fell 6.66% to Rs 1,378.70. The stock has fallen 13.64% in the past two trading sessions to its current market price of Rs 1,378.70, from a recent closing high of Rs 1,596.60 on Friday, 4 October 2019.

State Bank of India (SBI) advanced 3.21% after reports say that it slashed its MCLR by 10 basis points, bringing it down to 8.05% from 8.15% with effect from 10 October 2019. SBI is set to reduce savings account deposit rate from 3.5% to 3.25% from 1 November 2019. For 1-2 year deposits, SBI cut the retain term deposit and bulk deposit rate by 10-30 basis points effective from 10 October 2019, on account of tackling inadequate liquidity.

Overseas, European stocks advanced while most Asian shares declined as the United States and China's ever-expanding dispute over trade and foreign policy showed little sign of coming to an end.

US stocks ended down sharply on Tuesday as news that the United States has imposed visa restrictions on Chinese officials overshadowed comments by Federal Reserve Chairman Jerome Powell suggesting openness to further interest rate cuts.

Meanwhile, high-level US-China trade negotiations will resume this week in Washington, the White House announced on 7 October 2019, a hopeful sign after a summer of deteriorating relations. Beijing's top trade envoy Liu He will meet with US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin beginning on Thursday, the White House said in a statement.

Lower-level talks have been underway since last month. The talks will focus on key areas where the Americans have made far reaching demands since last year: intellectual property rights, the forced transfer of proprietary technologies, agriculture and enforcement, the statement said.

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Adani Ports & Special Economic Zone Ltd     409.05   Up   9.15 (2.29%)   Asian Paints Ltd     1,790.25   Up   11.65 (0.66%)   Axis Bank Ltd     672.70   Down   -0.25 (-0.04%)   Bajaj Auto Ltd     2,898.80   Up   12.55 (0.43%)   Bajaj Finance Ltd     3,973.20   Up   24.30 (0.62%)   Bajaj Finserv Ltd     8,169.45   Down   -32.40 (-0.40%)   Bharat Petroleum Corporation Ltd     488.00   Down   -1.90 (-0.39%)   Bharti Airtel Ltd     382.90   Up   5.65 (1.50%)   Bharti Infratel Ltd     258.15   Up   1.25 (0.49%)   Britannia Industries Ltd     3,081.95   Up   44.20 (1.46%)   Cipla Ltd     441.35   Up   19.20 (4.55%)   Coal India Ltd     189.05   Up   4.50 (2.44%)   Dr Reddys Laboratories Ltd     2,651.40   Up   17.90 (0.68%)   Eicher Motors Ltd     18,201.15   Up   148.65 (0.82%)   GAIL (India) Ltd     124.95   Down   -2.40 (-1.88%)   Grasim Industries Ltd     691.40   Down   -5.20 (-0.75%)   HCL Technologies Ltd     1,079.50   Up   16.00 (1.50%)   HDFC Bank Ltd     1,198.80   Down   -1.75 (-0.15%)   Hero Honda Motors Ltd     2,597.85   Down   -4.00 (-0.15%)   Hindalco Industries Ltd     187.20   Up   4.95 (2.72%)   Hindustan Unilever Ltd     2,004.65   Up   35.90 (1.82%)   Housing Development Finance Corporation Ltd     2,010.15   Up   22.20 (1.12%)   ICICI Bank Ltd     428.55   Up   4.85 (1.14%)   Indian Oil Corporation Ltd     143.40   Down   -4.80 (-3.24%)   IndusInd Bank Ltd     1,223.20   Down   -5.30 (-0.43%)   Infosys Technologies Ltd     814.80   Up   31.75 (4.05%)   ITC Ltd     243.95   Up   0.75 (0.31%)   JSW Steel Ltd     217.25   Up   3.50 (1.64%)   Kotak Mahindra Bank Ltd     1,587.75   Up   2.95 (0.19%)   Larsen & Toubro Ltd     1,427.70   Up   2.60 (0.18%)   Mahindra & Mahindra Ltd     560.10   Down   -5.95 (-1.05%)   Maruti Suzuki India Ltd     6,698.90   Up   93.45 (1.41%)   Nestle India Ltd     14,032.40   Up   212.55 (1.54%)   NIFTY (S&P CNX)     11,305.05   Up   70.50 (0.63%)   NTPC Ltd     116.70   Down   -0.55 (-0.47%)   Oil & Natural Gas Corpn Ltd     129.00   Up   3.50 (2.79%)   Power Grid Corporation of India Ltd     201.00   Up   1.90 (0.95%)   Reliance Industries Ltd     1,352.60   Down   -10.15 (-0.74%)   State Bank of India     254.55   Up   0.40 (0.16%)   Sun Pharmaceuticals Industries Ltd     386.30   Down   -0.75 (-0.19%)   Tata Consultancy Services Ltd     1,986.85   Down   -17.60 (-0.88%)   Tata Motors Ltd     121.30   Up   4.50 (3.85%)   Tata Steel Ltd     339.00   Up   9.05 (2.74%)   Tech Mahindra Ltd     721.45   Up   10.15 (1.43%)   Titan Company Ltd     1,243.60   Up   8.90 (0.72%)   UltraTech Cement Ltd     4,077.20   Up   100.90 (2.54%)   UPL Ltd     589.85   Up   6.40 (1.10%)   Vedanta Ltd     147.05   Up   5.90 (4.18%)   Wipro Ltd     239.45   Up   0.25 (0.10%)   Yes Bank Ltd     39.60   Down   -1.35 (-3.30%)   Zee Entertainment Enterprises Ltd     242.50   Down   -2.50 (-1.02%)      NSE Data  -  www.nseindia.com (5 minutes delayed) syndicated by www.cmots.com

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