CNBC-TV18 Market Highlights: Sensex ends 246 points higher, Nifty above 11,300, auto, metal, IT support indices, energy, banks cap gains

Closing Bell: Sensex, Nifty end volatile trade with gains, metal, auto, IT shares support indices##Closing Bell: Sensex, Nifty end volatile trade with gains, metal, auto, IT shares support indices

The BSE Sensex surged 246 points, or 0.65 percent, to settle Friday's trade at 38,127. The Nifty50 rose 70.55 points, or 0.63 percent, at 11,305. The Nifty MidCap 100 index settled marginally higher, rising 0.12 percent. The Nifty Bank also ended positive, up by 0.10 percent. IT, auto and pharma advanced among notable sectoral gainers, oil & gas, energy and media declined. Cipla, Infosys, Vedanta, Tata Motors and ONGC rose between 3 and 5 percent. Indian Oil Corp, Yes Bank, GAIL, M&M and Reliance Industries fell by up to 3.3 percent. 

Sensex heatmap at close: Infosys, Vedanta, Tata Motors lead gainers, Yes Bank top loser##Sensex heatmap at close: Infosys, Vedanta, Tata Motors lead gainers, Yes Bank top loser

Specialty chemicals gave double-digit returns in the last 5 years: Here are the top bets from Emkay Research##Specialty chemicals gave double-digit returns in the last 5 years: Here are the top bets from Emkay Research

One of the sectors that continued to give returns over the years is specialty chemicals business. Known to be a safe sector as its demand is expected to increase in future, it has delivered double-digit returns in the last five years. However, with the auto sector slowdown and overall economic crisis, specialty chemical stocks have also started to feel the heat. Emkay, in its recent research report said, “The automotive slowdown is likely to impact refrigerant gas, soda ash and technical textile businesses in the chemical space.” READ MORE

ONGC surges 3.5 percent as global crude oil prices rise##ONGC surges 3.5 percent as global crude oil prices rise

Oil & Natural Gas Corp shares rose 3.5 percent to Rs 129.90 due to a jump in global crude oil prices. Prices of Brent Crude gained for the third straight trading session today, rising as much as 2.6 percent, triggered by news of an explosion at an Iranian tanker near Saudi Arabian port of Jeddah, increasing concern about security of the oil infrastructure in the West Asia. At 3.03 pm, shares of ONGC were up 2.7 percent at Rs 128.90, with nearly 10.7 million shares traded on the National Stock Exchange, against a daily average of 6.3 million shares. So far in 2019, shares of ONGC have declined over 14 percent.

Motilal Oswal lists top 5 FMCG stocks to bet on amidst industry growth woes

Here’s a quick wrap-up of what has so far happened in the markets today##Here’s a quick wrap-up of what has so far happened in the markets today

-Benchmark equity indices were near their day's high as positive cues from European markets coupled with firm cues from other Asian markets early today aided sentiment.

-The gains in the benchmark indices were led by shares of index majors Infosys, Hindustan Unilever and metal companies.

-The Nifty 50 index was up 0.49 percent at 11,290 points, while the BSE-Sensex was at 38,072 points, up 0.53 percent at 2.46 pm.

-Shares of Cipla recovered sharply and rose over 3 percent after brokerage firm Edelweiss Securities said the observations received by the company's Goa unit may not be as serious as market is perceiving them to be.

Nifty50 sectoral indices update: Nifty Metal rises 2.01%##Nifty50 sectoral indices update: Nifty Metal rises 2.01%

International Energy Agency cuts oil demand growth##International Energy Agency cuts oil demand growth estimates 

International Energy Agency sees demand for OPEC crude falling in 2020 to 29 mbpd. It also cut oil demand estimates for 2019 and 2020 by 1 and 1.2 mbpd. Saudi's crude supply fell 7.7 lakh bpd  to 9.02 mbpd, lowest since 2011. Global oil supply fell 1.5 mpbd to 99.3 mbpd after Saudi oil attacks.

Aurobindo Pharma's promoter creates pledge on 8 lakh shares from October 7-9##Aurobindo Pharma's promoter creates pledge on 8 lakh shares from October 7-9

RBL Bank tanks 14% on worries over asset quality##RBL Bank tanks 14% on worries over asset quality

Shares of RBL Bank tanked 14 percent to a record low of Rs 248.10 due to worries that the company will have to make aggressive provisions because of slippages. On Thursday, shares of RBL Bank had closed nearly 7 percent lower due to worries over its exposure to Indiabulls Housing Finance, after the Reserve Bank of India rejected the housing finance company's planned merger with Lakshmi Vilas Bank.  RBL Bank will announce its July-September earnings on October 22, and the stock is likely to see continued selling pressure until then. At 12.24 pm, shares of RBL Bank were down 9.2 percent at Rs 262, with nearly 19 million shares traded on the NSE, against a daily average of 2.5 million shares. So far in 2019, shares of RBL Bank are down 54 percent. 

Titan: Rakesh Jhunjhunwala sells 49 lakh shares in July-September quarter##Titan: Rakesh Jhunjhunwala sells 49 lakh shares in July-September quarter

Indiabulls Ventures rises 9% as buyback at 50% premium##Indiabulls Ventures rises 9% as buyback at 50% premium

Shares of Indiabulls Ventures recovered and rose as much as 9 percent today after the company said it would buy back shares at Rs 150 apiece, a premium of 50 percent to Thursday's closing price. The company said it would buy back 66.67 million shares for Rs 1000 crore in total through the tender offer route. So far today, 2.48 million shares of the company changed hands on the NSE, higher than six-month average daily trading volume of 1.76 million shares. Shares of the company were up 8 percent at Rs 107.40.   

Indiabulls Housing falls 26% in 2 days after RBI rejects merger with Lakshmi Vilas Bank##Indiabulls Housing falls 26% in 2 days after RBI rejects merger with Lakshmi Vilas Bank

Shares of Indiabulls Housing Finance fell over 9 percent on Friday after the Reserve Bank of India (RBI) rejected their proposed merger with Lakshmi Vilas Bank. The stock has tumbled over 26 percent since the announcement yesterday. The stock of the NBFC shed as much as 9.4 percent to reach its 52-week low of Rs 176.60 per share on BSE in intraday today. At 11:45 AM, the stock was trading 7 percent lower at Rs 181.20 as compared to a 0.07 percent or 26 points rise in BSE Sensex at 37,907. READ MORE

Indiabulls Ventures climbs 8% after board clears share buyback##Indiabulls Ventures climbs 8% after board clears share buyback

Indiabulls Ventures rallied 8 percent in early trade after the board approved a buyback of 6.67 crore shares at Rs 150 per share at a meeting on October 11.

"The board approved a buyback of up to 6,66,66,666 fully paid-up equity shares having face value Rs 2 each of the company, representing 12.61 percent of its total existing fully paid-up equity at Rs 150 per share, through the tender offer route," Indiabulls Ventures said in its BSE filing.