Sensex, Nifty Match Second-Best Run Of 2019 On Earnings Optimism 
Stock information is displayed on an electronic board at a securities exchange house in Shanghai, China. (Photographer: Qilai Shen/Bloomberg)

Sensex, Nifty Match Second-Best Run Of 2019 On Earnings Optimism 

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Closing Bell: Sensex, Nifty End With Marginal Gains After Choppy Session

Indian equity benchmarks ended marginally higher after a volatile trade as gains in HDFC Bank Ltd. and IndusInd Bank Ltd. were offset by losses in Tata Consultancy Services Ltd. and Larsen & Toubro Ltd.

The S&P BSE Sensex rose 35 points or 0.09 percent to 40,165 and the NSE Nifty 50 rose 0.11 percent to 11,890.60. The broader markets represented by the NSE Nifty 500 Index rose 0.15 percent.

Fifteen out of the 26 Nifty companies that have reported earnings so far this season have beaten analyst estimates, two have matched and eight have missed, according to Bloomberg report.

“The earnings helped by improving asset quality at major banks and signs of bottoming out of consumer spending with festive season,” Bloomberg reported quoting BNP Paribas' Abhiram Eleswarapu.

“Potential triggers for the second half of the year include a good monsoon and low raw material prices,” Eleswarapu told Bloomberg.

The market breadth was tilted in favour of buyers. About 1,059 stocks advanced and 750 shares declined on National Stock Exchange.

Nine out of 11 sectoral gauges compiled by NSE ended higher, led by the NSE Nifty Media Index’s 7.7 percent gain. On the flipside, the NSE Nifty Auto Index was the top sectoral loser, down 0.67 percent.

TVS Sales Decline 19%; Shares Fall

TVS Motor Company Ltd. sold 3.23 lakh units last month a fall of 19 percent from October 2018, the Chennai-based company said in a stock exchange filing.

Key Sales Highlights (YoY)

  • Two-wheeler sales fell 20 percent to 3.08 lakh units.
  • Domestic two-wheeler sales fell 25 percent to 2.52 lakh units.
  • Scooter sales fell 20 percent to 1.21 lakh units.
  • Motorcycle sales fell 17 percent to 2.53 lakh units.
  • Three-wheeler sales rose 8 percent to 15,207 units.
  • Two-wheeler exports rose 22 percent to 55,477 units.
  • Overall exports rose 20 percent to 69,339 units.

The stock traded 4.8 percent lower at Rs 463.20 after the announcement.

BQ Exclusive: Bajaj Finance Said To Launch Rs 8,000 Crore QIP

Bajaj Finance Ltd. is said to launch QIP worth Rs 8,000 crore next week, people familiar with the matter told BloombergQuint on the condition of anonymity.

Shares of the NBFC rose 1.1 percent to Rs 4,074 as of 3:20 p.m.

Large Trade Alert: Bharti Infratel

About 15.2 lakh shares of Bharti Infratel changed hands in a large trade, Bloomberg data showed. Buyers and sellers were not known immediately.

Stocks Moving On Heavy Volumes

Hindustan Media

  • Stock rose as much as 19.9 percent to Rs 89.25.
  • Trading volume was 50 times its 20-day average.

Laurus Labs

  • Stock rose as much as 13.3 percent to Rs 418.80.
  • Trading volume was 40 times its 20-day average.

Motilal Oswal Financial Services

  • Stock rose as much as 13.9 percent to Rs 707.60.
  • Trading volume was 19 times its 20-day average.

Uniply Industries

  • Stock fell as much as 19.9 percent to Rs 33.75.
  • Trading volume was 14 times its 20-day average.

SML Isuzu Sales Fall By A Third

Number of vehicles sold by busmaker fell 28 percent to 515 units, according to its exchange notification.

Shares of the company surged nearly 3.4 percent intraday to Rs 567 apiece after the sales announcement.

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