• SMC open account icon Open an A/C
    • Open an A/C
    • Trading A/c
    • Mutual Fund A/c
    • NBFC A/c
    • NPS A/c

Budget News

  • Sensex spurts 292 pts, Nifty ends above 11,400 mark
  • October 15,2019  17:10
  • Key benchmark indices ended with strong gains on Tuesday, tracking positive global sentiments triggered by China confirming phase-one trade deal with the US. Geng Shuang, spokesman of China's Foreign Ministry, reportedly said US statement on partial trade deal is accurate and there is no difference with the US on the trade agreement.

    The barometer index, the BSE Sensex, rose 291.62 points or 0.76% to 38,506.09. The Nifty 50 index rose 87.15 points or 0.77% to 11,428.30.

    The market breadth favored the sellers. On the BSE, 1104 shares rose and 1363 shares fell. A total of 190 shares remain unchanged.

    The broader market was mixed. The S&P BSE Mid-Cap index rose 0.72%, but the S&P BSE Small-cap index fell 0.11%.

    The Nifty 50 index opened higher and crossed the 11,400 mark in mid-morning trade. The index touched the day's high of 11,460 in mid-afternoon trade. The Nifty trimmed gains in the last half hour of trade, but it still managed to close above its 100 day simple moving average placed at 11,408.22.

    Among the sectoral indices on the BSE, the S&P BSE Auto index (up 2.36%), the S&P BSE Metal index (up 1.56%) and the S&P BSE Bankex (up 1.31%) outperformed the S&P BSE Sensex.

    The S&P BSE Telecom index (down 2.15%) and the S&P BSE IT index (down 0.66%) underperformed the S&P BSE Sensex.

    In the foreign exchange market, the partially convertible rupee edged lower. It was hovering at 71.55, compared with its close of 71.235, during the previous trading session.

    In the commodities market, Brent crude for December 2019 settlement was down 45 cents at $58.90 a barrel. The contract fell $1.16 or 1.92% to settle at $59.35 a barrel during the previous trading session.

    On the economic front, the general consumer price index (CPI) inflation rose to 3.99% in September 2019, compared with 3.28% in August 2019. The corresponding provisional inflation rate for rural area was 3.24% and urban area 4.78% in September 2019 as against 2.25% and 4.49% in August 2019.

    The Reserve Bank of India (RBI) aims to achieve the medium-term target for CPI inflation of 4% within a band of +/-2%, while supporting growth. RBI on 4 October reduced repo rate by 25 basis points (bps) to 5.15%. It was the fifth straight rate cut from the RBI, resulting in an overall decline of 135 bps or 1.35 percentage point in the key lending rate. The next meeting of the MPC is scheduled during 3-5 December 2019.

    The Wholesale Price Index (WPI)-based inflation, base year 2011-12, dipped further down to 39-months low of 0.3% in September 2019 from 1.1% in August 2019. The WPI based inflation has been moderating consistently for last five straight months from 3.2% in April 2019. The data was unveiled during trading hours on Monday, 14 October 2019

    India's balance of trade data for September 2019 will be announced later today, 15 October 2019. India's trade deficit narrowed to $13.45 billion in August 2019 from $17.92 billion in the same month last year.

    Overseas, European shares advanced. European Union negotiator Michel Barnier reportedly said a Brexit deal between the bloc and the U.K. is still possible this week.

    Asian markets ended mixed on Tuesday, following the previous day's rally, as new doubts emerged overnight about the US-China partial trade deal. China wants another round of talks before signing what U.S. President Donald Trump last week called a very substantial phase one deal between the two countries.

    As part of the phase one deal on Friday, the U.S. postponed a planned tariff increase on $250 billion in Chinese imports from 25% to 30%, originally set to take effect Tuesday, in exchange for Chinese promises to buy $40 to $50 billion in American agricultural products annually though that would be double the $24 billion China bought in 2017.

    U.S. Treasury Secretary Steven Mnuchin reportedly expects the mid-December round of tariffs to take effect if no deal is reached between the countries.

    US stocks edged lower on Monday as investors turned their focus on the third-quarter earnings season, which begins in earnest on Tuesday.

    On the equity front back home, IT major Wipro rose 0.14%. Consolidated net profit rose 6.61% to Rs 2,561.30 crore on a 1.98% rise in total income to Rs 15,875.40 crore in Q2 September 2019 compared with Q1 June 2019.

    On a standalone basis, Wipro's net profit jumped 11.56% to Rs 2,247 crore on a 2.63% rise in total income to Rs 13,156.70 crore in Q2 September 2019 compared with Q1 June 2019. The result was announced after trading hours today, 15 October 2019.

    JSW Energy rose 5.35%. The resolution plan submitted by JSW Energy for Ind-Barath Energy (Utkal) ('Ind-Barath') under the corporate insolvency resolution process of the Insolvency and Bankruptcy Code, 2016, has been approved by the Committee of Creditors on 14 October 2019. Ind-Barath owns a 700 MW under-construction thermal power plant located in Odisha.

    The Nifty Metal index rose 1.56%, rising for third straight trading session. Among metal stocks, Hindustan Copper (up 4.44%), Vedanta (up 3.79%), NMDC (up 3.77%), Jindal Steel & Power (up 3.67%), NALCO (up 2.60%), SAIL (up 2.30%), Hindalco Industries (up 1.96%), Tata Steel (up 1.23%) and Hindustan Zinc (up 0.50%) advanced.

    The Nifty Auto index rose 2.23%, rising for third straight trading session. Among auto stocks, Eicher Motors (up 4.85%), TVS Motor Company (up 3.03%), Escorts (up 2.96%), Mahindra & Mahindra (up 2.83%), Hero MotoCorp (up 2.63%), Maruti Suzuki India (up 2.47%), Ashok Leyland (up 2.22%) and Bajaj Auto (up 1.81%) rose.

    FMCG major Hindustan Unilever (HUL) gained 2.41%. On a consolidated basis, HUL reported 22.73% rise in net profit to Rs 1814 crore on a 5.2% increase in total income to Rs 10229 crore in Q2 September 2019 over Q2 September 2018. The result was announced after market hours yesterday, 14 October 2019.

    Shares of IRCTC fell 2.13% at Rs 713.10 amid profit booking after a stellar debut yesterday, 14 October 2019. The stock was listed at Rs 644 on BSE, a premium of 101.25% to the IPO price of Rs 320. It closed at Rs 728.60 on BSE, a premium of 127.69% over the IPO price.

    Indiabulls Housing Finance lost 4.47%. The company announced after market hours yesterday, 14 October 2019, that it will consult Sebi about its eligibility to buyback shares given the regulations on the ideal capital structure.

    Adani Transmission surged 5.82%. The company has signed share purchase agreement with REC Transmission Projects Company on 14 October 2019 for acquisition of its entire stake in WRSS XXI (A) Transco (WRSSTL). WRSSTL Project consists of approximately 272 ckt kms of 765kV line and 3000 MVA transformation capacity. The announcement was made after market hours yesterday, 14 October 2019.

    Shares of Coal India rose 0.63%. Government of lndia through Ministry of Coal has sold 1.28 crore shares of Coal India. The Government owned 69.26% in Coal india before the disposal. Post sale, the Government now owns 69.05% stake in Coal India.

    Powered by Capital Market - Live News

Economy News
Global News

Follow us:

  • fb icon
  • Twitter icon
  • Linkedin
  • you tube

Disclaimer: Investment in securities and commodities market are subject to market risks, read all the related documents carefully before investing. SMC Global Securities Ltd. (CIN : U67120DL1997PLC188881): NSE INB/ INF/INE 230771431, BSE INB/INF 011343937, MSEI INB/INF 260771432, CDSL/NSDL-IN-DP-130-2015, SMC Research Analyst Registration- INH 100001849 I SMC Comtrade Ltd.: NCDEX/MCX (8200)/ NMCE/ICEX-INZ000035839 I SMC Investments and Advisors Ltd.: PMS INP000003435 I SMC Insurance Brokers Pvt. Ltd., IRDAI Regi: No: DB 272/04, License No. 289 Valid upto 27/01/2020 I Registered Office: 11/6B, Shanti Chamber, Pusa Road, New Delhi-110005, Tel.: (011) 30111000. For any complaints email – igc@smcindiaonline.com, website: www.smctradeonline.com

Insurance is the subject matter of solicitation • All insurance products sold through SMC Insurance Brokers Pvt. Ltd. • Investment Banking Services provided by SMC Capitals Ltd. • Equity PMS and Wealth management services provided by SMC Investments & Advisors Ltd. • IPOs and Mutual Funds distribution services are provided by SMC Global Securities Ltd. • Financing Services provided by Moneywise Financial Services Pvt Ltd. • Commodity broking services provided by SMC Comtrade Ltd. • Real Estate Advisory services are offered through SMC Real Estate Advisors Pvt. Ltd.


Toll-free : 1800-11-0909
Email: contact@smctradeonline.com

Plus Minus 
Copyright ©2016 SMC. All Rights Reserved | Disclaimer | Privacy Policy | RMS Policy | Copyright| Testimonials| Sitemap| Grievance| design agency: triverse| Powered by C-MOTS Infotech (ISO 9001:2015 certified)
Open An Account

Open my trading account now!  X 

* All fields are compulsory