Stock Market Today: Stocks in News | Nifty below 11,400
Stocks in news and Market Happenings –Today stock market opened in positive and was trading flat to negative in the first half. In the second half, the market extended its losses and closed in negative. Today morning global cues were positive, Asian markets were also trading in green. A positive SGX Nifty indicated a gap up opening for the Indian stock market.
Nifty Stocks in News
Nifty and Sensex could not hold the morning gains and erased all early gains today. At close, Nifty fell 114.60 points and closed at 11,359.90. Today Nifty closed below 11,400 mark. Whereas Sensex also declined 361.92 points and closed at 38305.41. Bank Nifty was highly volatile today, has given a movement of 1449.05 points, fell 377.65 points and closed at 28725.50.
The top five Nifty50 gaining stocks in news are BPCL, M&M, HDFC Bank, Maruti Suzuki, and HDFC. The five Nifty50 losing stocks in news are Yes Bank, Zee Ent, IndusInd Bank, SBI and Grasim.
The Nifty midcap and smallcap 100 indexes also fell around 1.8% at the end of the day. The Nifty midcap fell 300.65 points and closed at 15725.35 whereas the smallcap Index fell 101.10 points and closed at 5492.65.
The top gaining stocks in news in Nifty midcap space are R Power (+15.91) and Escorts (+5.02%) and the losers are DHFL (-20%) and Dish TV (-10.19%). The top gaining stocks in news in Nifty smallcap space are Timken (+2.93%) and Credit Access Gr (+1.99%) and the losers are UCO Bank (-8.08%) and Karur Vashya (-6.95%)
Stocks in News
A leading civil engineering and EPC company JMC projects has bagged commercial real estate projects in Southern and Western India. It has also secured a water supply project in Odisha, all together LMC projects secured Rs 560 crores project. The share price of JMC projects declined 2.37% and closed at Rs 109.30 per share.
NBCC has signed MOU with Ministry of Youth Affairs & Sports (MYAS), Dept. Of Sports, Government of India to provide project management consultancy for development of National Sports University at Imphal Manipur. The cost of the project is of Rs 400 crores. The share price of NBCC has fell 0.57 % and closed at Rs 34.70 per share.
Sunil Mehta, Chairman and Non-Executive Director of PNB Housing Finance has resigned from the Board of the company. The shares of PNB Housing Finance touched 52 weeks low of Rs 524, today and rebound and gained 0.82% and closed at Rs 588.55 per share.
The government is planning to sell 30% stake in CONCOR to strategic investors. Adani Group is exploring the options to bid for government stake in CONCOR as per reports in CNBC-TV18. The share price of CONCOR gained 5.86% and closed at Rs 640.20 per share
CARE has revised the rating of pharmaceutical company Wockhardt from BBB- to BB+. The share price of Wockhardt has fell 0.29 % and closed at Rs 255.65 per share.
NCC has gained a new order worth Rs 868 crores from a State Government Agency. The share price of NCC is down 4% and closed at Rs 52.85 per share.
Auto Stocks Sales updates
Bajaj Auto reported 20% sales down in September, while exports have declined 2 %. The share price of Bajaj Auto has declined 1.08% and closed at Rs 2910 per share.
Atul auto reported an increase in sales by 3.9% against the same month last year. The share price of Atul auto gained 0.38 % and closed at Rs 227.10 per share
Ashok Leyland reported that the sales in September declined by 55% compared to the same month last year. The share price of Ashok Leyland has gained 0.38 % and closed at Rs 277.10 per share.
Mahindra and Mahindra have reported a decline in tractor sales by 2% on a YoY basis in Sept 2019. Earlier in the morning, CRISIL reaffirmed its AAA/Stable/A1+ ratings on the debt programs. The share price of M&M has gained 1.75 % and closed at Rs 556.70 per share.
Escorts reported a 2.2% increased in tractor sales in September on a YoY basis. The share price of Escorts gained 5.02% and closed at Rs 609.50 per share.
Eicher Motors has confirmed 43.2% sales dropped in commercial vehicles in the month of September compared to the same month last year. The share price of Eicher Motors gained 0.35 % and closed at Rs 17826.85 per share.
Maruti has reported a 24% drop in sales in September compared to the same period last year. The share price of Maruti gained 0.99% and closed at Rs 6782 per share.
Bank Stocks in News
The shares of Yes Bank cracked 30% intraday due to the stake sale by Rana Kapoor and concern on exposure in Indiabulls Housing Finance. The share price of Yes Bank fell 22.71 % and closed at Rs 32 per share.
RBL Bank has plunged 22% today with a concern of exposure in Indiabulls Housing Finance. The share price is down 8.97 % and closed at Rs 299.35 per share.
In the last 15 minutes, Indiabulls Housing Finance rebounds and the share price gained at 4.57 % and closed at Rs 267.60 per share.
Crude and Rupee updates
The Brent Crude oil price in the future is trading at 1% higher than yesterday’s close, currently it is trading at $ 59.90 per barrel. The Indian rupee is trading weak today, currently it is trading at Rs 71.09 against a US dollar. Yesterday, FIIs sold Rs 469 crores and DIIs bought 504.69 crores in the cash segment.
Conclusions:
We have compiled all stocks which are in news and today’s market happenings above. Tomorrow Indian stock market will be closed on account of Gandhi Jayanti. The next trading session will be on Thursday. Indian market will remain volatile on Thursday due to weekly option expiry and a day ahead of RBI Monetary Policy. Traders can read our Nifty and Bank Nifty trading levels on our website
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