Sensex reverses trend, ends below 181 pts, Nifty closes in red; IndusInd, Reliance top losers

After staying positive for entire trading session, the Indian stock markets gave away all their gains by end of Monday. BSE Sensex ended at Rs 34,134.38 per piece low by 181.25 points or 0.53% , whereas Nifty ends at 10,245.25 low by 58.30 points or 0.57%. Sensex managed to soar over 321 points  as in early trade. Superlative HDFC Bank quarterly earnings too boosted the markets apart from the rupee which strengthened by 8 paise to 73.24 against the US dollar. Another positive that helped the markets was the easing of crude oil prices. Notably Sensex had lost 847 points in the previous two sessions. 

14:00 PM: Top gainers on BSE Sensex were ICICI bank closed at Rs 327 per piece high by 3.84%, NTPC at Rs 165 per piece up by 1.95%, Bajaj auto at Rs 2556.80 per piece high by 1.86%, HDFC bank at Rs 1993 per piece up by 1.38% and Bharti Airtel at Rs 290.70 up by 1.34%.

Top losers on BSE were IndusInd bank finishing at Rs 1442.20 per piece low by 8.52% , Reliance Industries at Rs 1062.45 per piece low by 3.56%, Yes bank at Rs 211 per piece down by 3.08%, ONGC at Rs 156.10 per piece low by 3.07% and Asian paints at Rs 1201.45 down by 2.95%.

#MarketAtClose | ऊपरी स्तर से भारी गिरावट के साथ बंद हुए बाज़ार, #Sensex करीब 180 अंक गिरकर और #Nifty 10,250 के नीचे हुए बंद। pic.twitter.com/dnkcHuQH8S

— Zee Business (@ZeeBusiness) October 22, 2018

15:30 PM: Interestingly, just few minutes before today’s trading session could end, there was hay way in IndusInd Bank’s share price, so much so, that the bank has now clocked an all-time low of Rs 1,423.85 per piece. With this new low, the bank has dropped by nearly 10% on Sensex, however, at around 1459 hours, it was trading at Rs 1,434.05 per piece below Rs 142.95 or 9.04%. 

There is not much reason to why the bank has dropped to such an extreme level in just few minutes. The only development that took place was the Q2FY19 result announcement by the bank, which was a miss in comparison to experts estimates. 

Today, IndusInd Bank has lost more than  Rs 8,500 crore of market valuation. Currently, the bank has a market cap of Rs 86,311.80 crore, lower compared to previous day market cap of Rs 94,816.62 crore. 

Considering the new low, IndusInd Bank has now dropped by 30% compared to the new high of Rs 2,037.90 per piece it recorded in March 2018.

15:00 PM: Jubilant Life Science results are out for Q2FY19 and is currently trading in red at Rs 646.20 per piece low by 26.45 points or 3.93% at around 1506 hrs.

#ResultsOnZB | जुबिलिएंट लाइफ साइंस के तिमाही नतीजे अनुमान से बेहतर आए, मुनाफा ₹128 करोड़ से बढ़कर ₹210 करोड़, आय ₹1642 करोड़ से बढ़कर ₹2250 करोड़ रही।@SumitResearch @deepaliranaa @devganrajat9 @poojat_0211 @dkalra81 pic.twitter.com/hZIlIXteCM

— Zee Business (@ZeeBusiness) October 22, 2018

14:30 PM: Kansai Nerolac results are out for Q2FY19 and is currently trading in red at Rs 386.00 per piece low by 30.25 points or 7.27% at around 1506 hrs.

#ResultsOnZB | अनुमान से खराब आए Kansai Nerolac के तिमाही नतीजे, EBITDA मार्जिन 19% से घटकर 15.1% (YoY) रहा।@SumitResearch @deepaliranaa @devganrajat9 @poojat_0211 @dkalra81 pic.twitter.com/1mBwcezXU5

— Zee Business (@ZeeBusiness) October 22, 2018

14:00 PM: Hatsun Agro trading at Rs 608.50 per piece low by 13.80 or 2.22% at around 1323 hours, after the company announced its September 2018 quarter ended result. Further, the Board of Directors at their meeting held today,  approved the re-appointment of R.G.Chandramogan as Managing Director for further term of five years commencing from 1st April 2019 subject to the approval of the Shareholders. 

Here are the details of the revenue of the company for Q2FY19

#ResultsOnZB | Hatsun Agro के नतीजों में स्थिरता। pic.twitter.com/N0qY5n2DBY

— Zee Business (@ZeeBusiness) October 22, 2018

13:20 PM: S&P BSE Sensex trading at 34,453.06 high by 137.43 points or 0.40% at around 1311 hrs. 
Top losers on BSE are IndusInd bank trading at Rs 1533 per piece low by 2.70% , Bharti Airtel trading at Rs 280 per piece low by 2.32%, ONGC at Rs 157.95 per piece low by 1.92%, Reliance industries at Rs 1083.70 down by 1.63% and Yes bank at Rs 214.65 per piece down by 1.40%.

12:40 PM: Sensex sees at 34,500-mark; Can Fin, Jubilant in focus today.

12:15 PM: S&P BSE Bankex trading at 28494.97, high by 452.63 points or 1.61%, at around 1218 hrs.
Among the top gainers are ICICI bank, trading at Rs 327.10 per piece, up by 3.87%, Bank of Baroda at Rs 104.05 per piece 1.86%, HDFC at Rs 1999.40 per piece up by 1.71%, SBIN at Rs 265.20 per piece, high by 1.67%, and Kotak bank trading at Rs 1218.30 per piece, high by 1.56%, at around 1217 hrs.

11:45 AM: Yellow metal rates for 24 Carat today is Rs 33,300, up by Rs 40 from the previous close, which was Rs 33,260 for 10 per gram in India.

11:35 AM: Globally, Brent crude, the international benchmark was trading 0.07 per cent up at USD 80.07 per barrel at around 1137 hrs were the previous close was 80.02 per barrel.

11:30 AM: The Indian rupee strengthened by 7 paise to 73.25 against the dollar in early trade Monday. On Friday, the rupee had settled 29 paise higher at 73.32 against the US dollar, amid a weakening greenback.

11:15 AM:  BSE Sensex trading at Rs 34402.58 high by 86.95 pointsor 0.25% at around 1107 hrs.

Top gainers on exchange are ICICI bank trading at Rs 323 per piece up by 2.57%, HDFC bank at Rs 2002 per piece up by 1.84%, SBIN at Rs 264.15 high by 264.60, Coal india at Rs 279.30 up by 1.29% and Axis bank at Rs 569.20 up by 1.325% at around 1111 hrs 

Where as losers on the exchange were ONGC trading at Rs 156.90 low by 2.58%, Yes bank trading at Rs 212.25 low by 2.58%, Indusind bank at Rs 1546.10 low by 1.93%, Tata motors at Rs 171.85 per piece low by 1.69%, M&M at Rs 733.45 low by 1.09% at around 1114 hrs. 

10:35 AM: BSE Sensex trading in green where as BSE Smallcap index on hot bed trading at 13938.03 low by 144.89 points or 1.03% at around 1032 hrs.

Small sector companies like Bhansali engineering trading at Rs 100.80 per piece low by 20% , Persistent system at Rs 561.30 low by 15.16%, GTPL hathway at Rs 83.85 down by 9.98%, SPAL at Rs 263.05 per piece low by 6.90% and Reliance home at Rs 39.05 low by 6.69% are the top loser on the exchange.

9:54 AM: BSE Sensex trading at 34,344.59 up by 28.96 points or 0.8% where as Nifty 50 trading at 10,303.50 up by 0.05 points or 0% at around 947 hrs.

Where as in the Losers list Yes bank trading at 211.50 low by 2.85%, Bharti airtel at Rs 278.60 per piece down by 2.88%, ONGC at Rs 158.55 low by 1.55%, Tata steels at Rs 546.10 down by 1.35% and Vedanta trading at Rs 209.20 per piece low by 0.92% at around 953 hrs.

9:40 AM:

#MarketUpdate | शुरुआती बढ़त से फिसला बाज़ार, #Nifty ऊपरी स्तर से करीब 60 अंक फिसला, #Sensex भी ऊपरी स्तर से करीब 270 अंक लुढ़का, मिडकैप इंडैक्स ऊपर से 160 प्वाइंट टूटा। pic.twitter.com/1VfpsIhRl2

— Zee Business (@ZeeBusiness) October 22, 2018

9:28 AM: Top performers on S&P BSE SENSEX is HDFC bank trading at Rs 1997.50 per piece up by 1.61%, Adani ports trading at Rs 320.50 per piece high by 1.52%, SBIN at Rs 264.50 up by 1.40%, Vedanta at Rs 213.80 per piece high by 1.26% and ICICI Bank at Rs 318.85 up by 1.25% at around 927hrs.

9:19 AM: Indian stock market opens in green, BSE Sensex opens at 34,489.29 up by 0.15% where as Nifty 50 at 10,353.60 up by 50.05 points or 0.49% at around 918 hrs.