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The sentiment turned sour as global stocks plummeted, the rupee wavered from one hollow to the other and the FII did not stop pressing the exit button .
Global equities are expected to face their worst week in over five years, with concerns over corporate profits reinforcing fears over global trade and economic growth, Reuters reported.
The market has been affected by a series of problems such as the ongoing trade war, prospects for weak economic growth and geopolitical tensions resulting from the death of journalist Jamal Khashoggi. National factors such as weak macroeconomic figures, poor rupee health and modest September quarter results are all the more serious.
The Senbad closed at a low of seven months and plunged 341 points, or 1.01%, to 33,349 points, and the Nifty 95 points, or 0.94%, to 10,030. Weekly basis, the Senbad lost 966 points, or 2.82%, while the Nifty lost 274 points, or 2.65%.
The BSE Midcap and Smallcap indices outperformed the Senbad benchmark today, with nominal losses of 0.11% and 0.04%, respectively.
Highlights of today 's sitting:
75,000 crores of rupees missing in one day
Friday' s loss was reduced to a cumulative wealth of 39; BSE investors while the market capitalization of companies slid to 1.33 rupees. , 31,977.38 crore of Rs 1,34,07,102,28 crore, available data showed. The top five companies in terms of market capitalization were Tata Consultancy Services (Rs 6,755,279.15), Reliance Industries (R6.62,180.42 Crore), HDFC Bank (Rs 5,333,294.35 Crore), ITC (3,435 Rs) 592.12 Crore). and Hindustan Unilever (crore of Rs 3.37,782.64).
Who drove my Senbad down?
Banks YES, Axis Bank, IndusInd Bank, TCS and Kotak Mahindra Bank have become the top five losers of Senbad. A total of seven stocks – Tata Motors, Reliance Industries, Bajaj Auto, Bharti Airtel, Tata Steel, HDFC and Hero MotoCorp – withstood the downtrend and stabilized in the green. In terms of index contribution, Infosys, TCS, ITC, Axis Bank and Kotak Mahindra Bank were among the top five brakes in the Senbad basket.
Shares of YES Bank plunge 9%
Shares of YES Bank stabilized at Rs 180.55, down 8.97% on BSE, a day after the private lender recorded a decline of 3.8% from one year to the other the profit of Rs 964.70 crore for the September quarter was allocated upwards by investments to the value (MTM) in corporate bonds and higher provisions for loans to a corporate client. The total amount of provisions increased to Rs. 940 crore compared to Rs. 447 crore a year earlier and higher than Rs. 626 crore reported in June 2018, which had a negative impact on profits.
Bharti Airtel eliminates the poor second quarter
Bharti Airtel's shares rose 1.06% to Rs 299 on BSE, even though they posted Thursday a drop in Consolidated net profit for the tenth consecutive quarter in the form of losses The main business in India has expanded because of the pressure exerted on prices by aggressive competition. The global brokerage firm CLSA has maintained 'Buy' on Airtel with a revised target price of Rs 415 (Rs 500 earlier).
Equum Holdings & Ujjivan End crumble
Shares of Equitas Holdings and Ujjivan Financial Services closed the day with respective losses of 23.34% and 17.62%, respectively, after the RBI gave them instructions on compliance with the registration rules of small financial banks. The Reserve Bank has asked both companies to comply with the guidelines and to report their small financial banks within three years of starting their operations, Ujjivan and Equitas said in separate reports on BSE on Thursday.
Earnings update
The main ITC of mbad consumption posted Friday an increase of 11.92% of its annual profit to 2,954.67 Rs crore for the quarter ended September 30th. The numbers failed to excite investors as shares fell 2.30% to Rs 280.65 on BSE. UPL recorded a 13.92% year-over-year increase in profit compared to Rs. 270 crore. Shares of the company jumped 3.90% to reach 621.70 rupees today on BSE.
The rupee sinks further
The domestic unit settled 19 points lower at 73.46 against a dollar today, after the dollar has reaches its highest level of 10 weeks. The weakness of equities in the midst of unfortunate profits has pushed investors into shelters, including the dollar and gold, putting pressure on emerging market currencies. Gold prices have risen today, hitting a high of three months.
Crude Oil Decreases
World crude oil prices have fallen today due to concerns over excess supply after the governor 's remarks. OPEC in Saudi Arabia on this subject. Oil prices fell more than 1% Friday, resulting in a third weekly loss. Weaker stock markets and trade concerns are clouding the outlook for fuel demand, Reuters reported.
European and Asian stocks weaken
Concern over global trade and economic growth has weighed on global stocks today. Shanghai Composite fell 0.19%, while Hang Seng fell 1.11%. The composite index of Korean stock prices or KOSPI fell 1.75%. In the European markets, the French CAC 40 was down 2%, the German DAX 1.46% and the UK FTSE 100 1.10% at the time of writing this report.
Main winners and losers
Equitas Holdings (down 23.34%), Ujjivan Financial Services (down 17.62%), YES Bank (down 8.97%), Gujarat Mineral Development Corporation (down 8.03%)) and Jet Airways (India) (-5.28%) ended the day in the top five of the BSE losers. For their part, Raymond (+ 11.18%), Dish TV India (10.50%), Ceat (8.58%), Kirloskar Oil Engines (7.73%) and Adani Power (7.58%) beat market morale during the day.
More than 300 shares at their lowest level in 52 weeks
Up to 323 shares, including Ambuja Cements, Bajaj Corp., Grasim Industries, IDFC, Maruti Suzuki, Ujjivan Financial Services, Tata Communications and Sadbhav Engineering, fell to a 52-week low on ESB today. Vikas Proppant & Granite, Superior Finlease, Sportking India, Coastal Corporation and Innovative Ideals and Services (India) were among the 21 stocks that reached their highest level in 52 weeks on BSE.
Call / put writing
Regarding the options, the maximum sales OI is at 10,000 followed by 9,800 keystrokes while the maximum call OI is observed at 10,500 followed by 10,800 strikes, according to Chandan Taparia of Motilal Oswal Securities. We saw Call write to 10,100, followed by 10,400 strike, while the put writing is seen at 10,000, followed by 9,800, strike.
Technical View
The Nifty50 has formed a candle of the type "Hold at the Bearish Belt" on the daily chart today. "The index made a big candle on the weekly chart, the range of 400 points indicating the severity of the correction.The bulls being unable to recover significantly, the chances of pbading below 9,950 to complete a corrective structure look brilliant. " during the next trading sessions, "said Mazhar Mohammad of Chartviewindia.in.
Bearish Signal at 104 Counts
The Moving Average Convergence Divergence (MACD) of the momentum indicator indicates bearish crossings at 104 counters on the BSE today. Ujjivan Financial, Just Dial, Filatex India, Sintex Plastics Tech and Jubilant Foodworks are some of the values that have shown bearish crosses. However, 59 wickets, including BPCL, Petronet LNG, DCM Shriram, IIFL Holdings and Greenply Industries, reported bullish crosses.
Over-sold and Overbought Shares
The Momentary Oscillator Relative Strength Index, or RSI, indicated 82 values in the oversold area of BSE. On Friday, the shares of Ujjivan Financial, Kwality, Grasim and Hexaware Technologies entered the oversold territory. However, 24 shares, including Orient Tradelink, Rama Paper Mills and Mishtann Foods and Coastal Corporation, have entered the overbought area.
SpSE in NSE Open Interest
Equitas shares had the largest percentage change in open interest (117.59%), followed by Ujjivan (42.31%), BHEL (32.50%), BEL (30.43%). PC Jeweler (26.11%) and Biocon (25.06%).
Axis Bank, Biocon under 200 DMA
The shares of Axis Bank, Ruchi Infra, Cipla, HCL Tech and Biocon were among the securities traded below their 200 DMA today. # 39; hui. Honeywell Automation, Tamil Telecom, Sterlite Technologies and Dwarikesh Sugar were above values above 200 DMA. A stock traded below 200 DMA signals a low trend, while a value above that level indicates a strong trend.
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