CNBC-TV18 Market Highlights: Sensex ends below 38600, Nifty at 11464, financials, IT, energy support indices, Bajaj Fin up 4%

Sensex heatmap at close: Bajaj Fin, ONGC, HDFC top gainer, Hero MotoCorp, Vedanta top laggards##Sensex heatmap at close: Bajaj Fin, ONGC, HDFC top gainer, Hero MotoCorp, Vedanta top laggards

Closing Bell: Sensex, Nifty settle with gains, Bajaj Finance surges 3.7%##Closing Bell: Sensex, Nifty settle with gains, Bajaj Finance surges 3.7%

The BSE Sensex closed 93 points higher, or 0.24 percent, to settle Wednesday's trade at 38,599. The NSE Nifty50 also added 36 points, or 0.31 percent, to close at 11,464. Both the Nifty MidCap100 and BSE MidCap indexes underperformed, slipping by up to 0.15 percent. Among sectors, IT, finance, pharma and consumer durables advanced, while bank, FMCG, auto, metal and capital goods declined. Among Nifty gainers, BPCL, Bajaj Finance, ZEEL, Grasim and ONGC rose by up to 4.3 percent. Hero MotoCorp, Vedanta, Hindalco, Asian Paints and NTPC declined by up to 3 percent.  

Only this stock in the Nifty Realty index gave negative returns in the last 3 years##Only this stock in the Nifty Realty index gave negative returns in the last 3 years

In the recent years, the Narendra Modi-led government has introduced major reforms such as Real Estate (Regulation and Development) Act, Goods and Services Tax (GST), Insolvency and Bankruptcy Code and Benami Transactions (Prohibition) Act, to support the real estate sector struggling with dwindling sales, high inventory and price stagnation. The GST council has also done away with the input tax credit (ITC) and reduced the GST rate for under-construction flats to five percent from 12 percent and for affordable housing to one percent from eight percent, from April 1, for all new projects. READ MORE

Here's a quick round up of what has so far happened in the markets today##Here's a quick round up of what has so far happened in the markets today

-Indian shares trade flat, giving up early morning gains as metal and auto stocks weigh on indices. 

-The BSE Sensex advanced over 150 points on Wednesday morning driven by gains in energy and banking stocks amid sustained fund inflow and positive cues from global equities. The broader Nifty also gained 47 points to trade at 11,461.55 points in the morning.

-Shares of Multicommodity Exchange of India (MCX) gained 9 percent on Wednesday on robust Q2 results. The sentiment was also bullish after global brokerage Morgan Stanley raised the stock's target and said that it expects the price to double in three years.

-Bajaj Consumer Care ltd or Bajajcon shares hit the 20 percent upper circuit in intra-day trade at Rs 234.65 per share on the Bombay Stock Exchange (BSE).

Kokuyo Camlin Q2 net profit comes in at Rs 2 crore vs Rs 1 crore, up 100%##Kokuyo Camlin Q2 net profit comes in at Rs 2 crore vs Rs 1 crore, up 100%

Elara Capital expects Bharti Airtel stock price to double in 5 years##Elara Capital expects Bharti Airtel stock price to double in 5 years

Bharti Airtel has been in focus since the launch of Reliance Jio in 2016 which disrupted the telecom market. Despite that, the stock has risen nearly 29 percent since then. In the last one year, the scrip has gained 45 percent and 33.6 percent in 2019. The stock has risen over 12 percent since last week after Reliance Jio said it would charge 6 paise per minute on off-net calls. The move, analysts believe, would be viewed as sentimentally positive for the telecom companies. Most analysts were bullish on the stock post this development. Read more

MCX shares surge 9% on robust Q2 results; Morgan Stanley raises price target##MCX shares surge 9% on robust Q2 results; Morgan Stanley raises price target

Shares of Multicommodity Exchange of India (MCX) gained 9 percent on Wednesday on robust Q2 results. The sentiment was also bullish after global brokerage Morgan Stanley raised the stock's target and said that it expects the price to double in three years.

The stock rose as much as 8.9 percent to its 52-week high of Rs 1,107.70 per share on the BSE. At 10:05 am, the stock was trading 5 percent higher at Rs 1,069 as compared to a 0.2 percent or 80 points rise in the BSE Sensex at 38,586. READ MORE

Vodafone Idea's demerger with Vodafone Towers becomes effective##Vodafone Idea's demerger with Vodafone Towers becomes effective

 Vodafone Idea’s demerger with Vodafone Towers for transfer of fiber infrastructure has become effective. The fiber infra undertaking of the company stands demerged.

2.2 crore shares of ICICI Lombard exchange hands on NSE##2.2 crore shares of ICICI Lombard exchange hands on NSE

Fitch Ratings downgrade Jain Irrigation Systems##Fitch Ratings downgrade Jain Irrigation Systems

Fitch Ratings has downgraded Jain Irrigation Systems' long-term ratings (IDR) to RD from CCC- , and the rating on its USD200 million 7.125 percent senior unsecured notes due in 2022 to C from CCC- with a recovery rating of RR4.

Federal Bank Q2 earnings: NII rises nearly 10% on like-to-like basis while net profit is up 57% YoY##Federal Bank Q2 earnings: NII rises nearly 10% on like-to-like basis while net profit is up 57% YoY

PNB Housing Finance to consider issuing NCDs on October 24##PNB Housing Finance to consider issuing NCDs on October 24

PNB Housing Finance will consider issuance of non-convertible debentures up to Rs 10,000 crore on October 24.