Sensex, Nifty End Mixed On Worries Of Earnings Slump Extending
Stock information is displayed on an electronic board at a securities exchange house in Shanghai, China. (Photographer: Qilai Shen/Bloomberg)

Sensex, Nifty End Mixed On Worries Of Earnings Slump Extending

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Sensex, Nifty End Mixed On Worries Of Earnings Slump Extending

Indian equity benchmarks ended mixed as investors weighed a possible weaker outcome of September quarter earnings.

The S&P SBE Sensex closed 0.22 percent lower at 36,644.42 while the NSE Nifty 50 ended little changed at 10,847.90. The broader markets represented by the NSE Nifty 500 Index closed 0.15 percent higher.

The markets are expected to be volatile and in a very tight range in the near term, Joindre Capital Services’ Head of Research Avinash Gorakshakar said.

“The investors are waiting for the September quarter earnings and fear that it may not keep up the expectations, particularly in the auto sector considering weak sales. The earnings will also guide the direction for the markets along with the global developments such as the developments in U.S.-China trade war,” Gorakshakar told BloombergQuint in an interaction.

Commenting on the 50-stock gauge, Gorakshakar said that the index may not touch 11,200 levels in the near term.

The market breadth, however, was tilted in favour of buyers. About 1,129 stocks advanced and 631 shares declined on National Stock Exchange.

Six out of 11 sectoral gauges compiled by NSE ended lower, led by the NSE Nifty Realty Index’s 1.8 percent fall. On the flipside, the NSE Nifty Metal Index was the top sectoral gainer, up 2.6 percent.

Sensex, Nifty End Mixed On Worries Of Earnings Slump Extending

Stocks Moving On Heavy Volumes

MCX

  • Stock rose as much as 2.9 percent to Rs 894.
  • Trading volume was almost five times its 20-day average.

IndiaMART InterMESH

  • Stock rose as much as 2.4 percent to Rs 1,249.90.
  • Trading volume was more than four times its 20-day average.

BPCL

  • Stock rose as much as 5.9 percent to Rs 385.
  • Trading volume was more than four times its 20-day average.

Maharashtra Scooters

  • Stock rose as much as 3.2 percent to Rs 3,915.
  • Trading volume was more than three times its 20-day average.

Fab Four Stocks Of The Day

Elecon Engineering

  • Stock rose as much as 9.9 percent, the most in nearly four months, to Rs 33.30.
  • The company received arbitration award against BGR Energy for Rs 37.5 crore. The firm received a nod from NCLT for the award.

Ramkrishna Forgings

  • Stock rose as much as 8.7 percent, the most in over two months, to Rs 297.95.
  • The North America Class 8 truck orders rose 6 percent on a monthly basis to 10,414 units.

Arvind

  • Stock rose as much as 8.9 percent to Rs 50.75.
  • Fresh longs seen with high OI of 21 percent.

Dish TV

  • Stock rose as much as 14.2 percent to Rs 23.80.
  • Trading volume was double its 20-day average.

Market Check: Sensex, Nifty Subdued Ahead Of Weekly Expiry

Indian equity benchmarks were subdued and struggle to recover morning gains.

The S&P BSE Sensex fell 0.2 percent to 36,654 and the NSE Nifty 50 traded little changed at 10,850. The broader markets represented by the NSE Nifty 500 Index rose 0.16 percent.

European Stocks Up As Asian Optimism Continues

European stocks followed Asia’s lead, pushing higher on renewed trade optimism as China and the U.S. are set resume talks next month.

Source: Bloomberg

Sensex, Nifty End Mixed On Worries Of Earnings Slump Extending

NCLT Allows Sale Of Bhushan Power To JSW Steel

  • NCLT approves JSW Steel’ s $2.7 billion bid for Bhushan Power & Steel.
  • JSW bid about Rs 19,700 crore, higher than rivals Tata Steel and Liberty House Group.
  • Bhushan Power will add 3.5 million tonnes a year capacity to JSW Steel’s operations and expand its footprint to the eastern part of the country where it has no presence.
  • Shares of JSW Steel erased gains and fell 0.6 percent. The stock had risen 3.5 percent intraday.

Source: Bloomberg

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