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Closing Bell: Nifty below 11,500, Sensex down 155 pts; Yes Bank falls 14%, auto stocks slip

The Sensex was down 155.24 points at 38,667.33, while Nifty was down 37.90 points at 11,474.50

September 30, 2019 / 06:16 pm IST
  • Closing Bell: Nifty below 11,500, Sensex down 155 pts; Yes Bank falls 14%, auto stocks slip
    Moneycontrol.com
  • IndexPricesChangeChange%
    Sensex73,651.35655.04 +0.90%
    Nifty 5022,326.90203.25 +0.92%
    Nifty Bank47,124.60338.65 +0.72%
    Nifty 50 22,326.90 203.25 (0.92%)
    Thu, Mar 28, 2024
    Biggest GainerPricesChangeChange%
    Bajaj Finserv1,643.8561.20 +3.87%
    Biggest LoserPricesChangeChange%
    Shriram Finance2,359.80-26.55 -1.11%
    Best SectorPricesChangeChange%
    Nifty PSU Bank7007.25178.70 +2.62%
    Worst SectorPricesChangeChange%
    Nifty IT34898.15153.85 +0.44%


  • September 30, 2019 / 06:16 PM IST
  • September 30, 2019 / 05:44 PM IST

    RBI Policy Expectations

    "The MPC will be going into the meeting with 1QFY20 GDP growth at 5% against estimate of 5.8-6.6% in 1HFY20 and 6.9% for FY2020 and having unequivocally expressed growth as its primary concern. With inflation remaining within its comfort range, despite recent onion price increases, revisions to its growth forecast warrant a sharper-than-usual rate cut in the October policy. We pencil in a 40 bps of rate cut which should be a signal to the market that the MPC is not quite done as it front loads the remaining couple of rate cuts in the cycle,"SuvodeepRakshit, Vice President & SeniorEconomist,KotakInstitutional Equities said.

  • September 30, 2019 / 04:59 PM IST

    Core sector dips 0.5 percent in August

  • September 30, 2019 / 04:55 PM IST

    Market Outlook

    "We expect that in the near term RBI policy outcome (scheduled on October 04th) will provide some direction to the markets. Further, markets are likely to remain range bound till the beginning of the earnings season from mid-October. Moreover, global developments particularly US-China trade war and crude oil prices may continue to induce volatility in the markets. We suggest investors should stick to stock specific approach,"Ajit Mishra Vice President,Research,Religare Broking said.

  • September 30, 2019 / 04:38 PM IST

    Technical View

    "Nifty is trading in a range of 200 points since last 5 days whereas 11,600 is standing as crucial resistance and 11,400 is acting as strong support. As long as the index is trading above 5 EMA placed around 11,450, we suggest opting ‘Buy on dip’ strategy.Moreover, a sustained move below 11,400 will confirm the reversal,"ShabbirKayyumi, Head of Technical Research at Narnolia Financial Advisors said.

  • September 30, 2019 / 04:37 PM IST

    Government approvedrelief plan for Jaypeehomebuyers andNBCC is going to build stuck projects, reports CNBC-TV18.

  • September 30, 2019 / 03:45 PM IST

    Japan’s PMDA completes GMP inspection of Lupin’s Goa facility

    The company announced the completion of the Good Manufacturing Practices (GMP) inspection of its Goa facility (Unit - I & II), by the Pharmaceutical and Medical Devices Agency (PMDA), Japan.

  • September 30, 2019 / 03:43 PM IST

    Suvodeep Rakshit, Vice President & Sr. Economist, Kotak Institutional Equities:

    The MPC will be going into the meeting with 1QFY20 GDP growth at 5% against estimate of 5.8-6.6% in 1HFY20 and 6.9% for FY2020 and having unequivocally expressed growth as its primary concern. With inflation remaining within its comfort range, despite recent onion price increases, revisions to its growth forecast warrant a sharper-than-usual rate cut in the October policy. We pencil in a 40 bps of rate cut which should be a signal to the market that the MPC is not quite done as it front loads the remaining couple of rate cuts in the cycle. Further, with the start of the external benchmarked loans in October, a larger rate cut will help in quicker transmission of rate cuts even as the non-benchmarked loans continue to factor in the past rate cuts.

  • September 30, 2019 / 03:37 PM IST

    Sidharth Rath, MD & CEO, SBM Bank India:



    Globally, we are seeing overall interest rates being stable or dropping, accompanying slowdown in growth. With a sizeable cut in corporate tax rates, the fiscal response has been sharp. This along with the RBI’s easier monetary stance - lower rates, easier liquidity- should help to arrest the economic downturn, and boost sentiments. Against this backdrop, the central bank is likely to have a dovish stance. More importantly, one needs to study the policy narrative to get a direction of likely future action by the RBI, liquidity measures, any other structural changes etc.

  • September 30, 2019 / 03:35 PM IST

    Market close

    : Benchmark indices ended lower but off days low in the volatile session on September 30.

    At close, the Sensex was down 155.24 points at 38,667.33, while Nifty was down 37.90 points at 11,474.50. About 777 shares have advanced, 1694 shares declined, and 151 shares are unchanged.

    Yes Bank, IndusInd Bank, SBI, Zee Entertainment and ICICI Bank were top losers on the Nifty, while lowers were Bharti Airtel, UPL, HCL Tech, Infosys and ITC.

    Among sectors, buying seen in the IT, infra, FMCG and energy sectors, while selling seen in the auto, bank, pharma and metal.

  • September 30, 2019 / 03:25 PM IST

    Stake sale by government in 5 CPSEs is likely to come up in group of secretary meet today. Government stake sale in BPCL, CONCOR, SCI, THDC and NEEPCO may come up for CGD nod. NTPC may acquire THDC and NHPC is likely to acquire NEEPCO, quoting source, reported CNBC-TV18.

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