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Opening Bell (11 Oct 2018)

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Sensex recovers some losses, but still down over 800 points, Nifty trades around 10,200

It is a gap down opening on D-Street on Thurdsay as global sell-off weighed on Indian indices. The Nifty gave up 10,200 in the opening minutes.

The Sensex has tanked over 900 points, while the Nifty is down over 300 points.

The Sensex is down 927.62 points or 2.67% at 33833.27, while the Nifty is lower 300.20 points or 2.87% at 10159.90. The market breadth is negative as 56 shares advanced, against a decline of 338 shares, while 3,006 shares were unchanged.

Among sectors, there’s selloff across sectors, with maximum pain visible in metals, automobiles, banks, and pharmaceuticals, among others. The midcap index is down 4 percent.

Top losers on the Sensex and Nifty include Yes Bank, Vedanta, Indiabulls Housing and Bajaj Finance.

At 09:36 hrs, the Sensex is down 948.00 points or 2.73% at 33812.89, while the Nifty is lower by 297.70 points or 2.85% at 10162.40. The market breadth is negative as 231 shares advanced, against a decline of 1,369 shares, while 1,800 shares were unchanged.


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Source: https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-sensex-recovers-some-losses-but-still-down-over-800-points-nifty-trades-around-10200-3032661.html

Bulls rule D-Street as Sensex soars 461 points; Nifty above 10,450

Banking big on lenders, bulls went all guns blazing on D-Street on Tuesday as benchmark indices saw a good surge. Benchmarks ended over a percent higher; the Nifty soared past 10,450-mark.

A large part of the rally was fueled by financial names, particularly non-banking financial companies (NBFCs). Investors cheered the news of banks such as State Bank of India (SBI) coming out in support of non-bank lenders. It said that there is still opportunity to buy up to Rs 30,000 crore more of their loans.

In the broader markets, midcaps were big movers in trade today, with the Nifty Midcap index soaring over 4 percent. These also boosted sentiment on D-Street.

Even PSU banks were one of the biggest movers; the Nifty PSU bank index rose over 5 percent. Other gainers include automobiles, which rose around 3 percent.

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Source: https://www.moneycontrol.com/news/business/markets/an-evening-walk-down-dalal-street-bulls-rule-d-street-as-sensex-soars-461-points-nifty-above-10450-3031261.html

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Financials help Nifty reclaim 10,400, Sensex soars over 350 points; midcaps outperform

Shares of non-banking financial companies (NBFCs) are surging in trade on Wednesday as investors are betting on reports of banks eyeing portfolio purchases from NBFCs. 

State Bank of India (SBI) has come out in support of non-bank lenders, stating there is still opportunity to buy up to Rs 30,000 crore more of their loans.

"The bank had initially planned for a growth of Rs 15,000 crore through portfolio purchase during the current year which is now being enhanced," SBI said in a statement.

"As per the bank's internal assessment, there may be an opportunity to buy additional portfolio in the range of Rs 20,000-30,000 crore," it said.

NBFCs typically sell down a part of their loan portfolios after holding them for a particular amount of time. Banks buy these portfolios to show growth or to meet priority sector lending requirements.

Aviation stocks are surging in trade on reports of a likely cut in excise for aviation turbine fuel (ATF). Jet Airways, SpiceJet and InterGlobe Aviation are all up around 3-6 percent. 

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