CNBC-TV18 Market Highlights: Sensex, Nifty settle marginally lower, midcaps outperform; Tata Steel top gainer

Closing Bell: Sensex, Nifty settle marginally lower, midcaps outperform##Closing Bell: Sensex, Nifty settle marginally lower, midcaps outperform

The BSE Sensex slipped 72.50 points to settle Monday's trade at 40,284 at close. The NSE Nifty50 also declined 11 points to 11,884.50. The Nifty MidCap 100 index outperformed, rising 0.76 percent, while the banking gauge, Bank Nifty ended flat in the red. Bank, auto, financial services and FMCG sectoral gauges ended lower, while metal, Pharma and PSU Bank rose between 1 and 2 percent. Among stocks, Tata Steel jumped over 4 percent, while Bharti Airtel, Hindalco, UPL and Sun Pharma rose between 3 and 4 percent. Yes Bank, Bajaj Auto, Britannia, Nestle India and M&M fell between 1 and 4 percent.

Sensex heatmap at close: Bharti Airtel, Tata Steel top gainers, Yes Bank falls 4%##Sensex heatmap at close: Bharti Airtel, Tata Steel top gainers, Yes Bank falls 4%

RBI Monetary Policy: BofAML believes more rate cuts coming. Here's why##RBI Monetary Policy: BofAML believes more rate cuts coming. Here's why

The October Consumer Price Index (CPI) inflation moved past the Reserve Bank of India's (RBI) comfort level of 4 percent, to a 16-month high of 4.6 percent, led by a spike in food prices. Does this mean no more rate cuts by the Monetary Policy Committee (MPC)? Rise in inflation above RBI's target level may lead to central bank pausing the rate cuts in the upcoming policy meet and holding on the current rate till inflation softens. However, Bank of America Merill Lynch (BofAML) is of the view that the MPC will still cut 40 basis points (bps) more in FY20. RBI MPC should still cut 25 bps on Dec 5 and 15 bps in February to support growth, said the investment bank in a report. READ MORE

SBI expects Essar Steel deal to conclude by November end##SBI expects Essar Steel deal to conclude by November end

The Essar Steel deal is likely to be closed by the end of November, said  Rajnish Kumar, chairman of State Bank of India, adding that "the process has already started for the money to come back in the account"."There are a few formalities which need to be completed and the effort is that the transaction gets closed as soon as all the formalities are over,” said Kumar in an interview with CNBC-TV18. READ MORE

Wockhardt's shares rise 13% after peers, global PE firms look to buy select divisions##Wockhardt's shares rise 13% after peers, global PE firms look to buy select divisions

The share price of Wockhardt surged 13 percent intraday on Monday after sources of Moneycontrol reported that Cipla, Dr Reddy's Laboratories and Carlyle Asian Investment Fund PAG are in the fray to acquire selected business segments of the company.

In intraday, the shares of the company rose 13.28 percent at Rs 307.10 per share on the NSE. 

Meanwhile, the exchange has sought a clarification from the company on the same.

13 mistakes to avoid as Nifty moves towards 13,000 mark##13 mistakes to avoid as Nifty moves towards 13,000 mark

This is my third blog in the 13 series after one on Dhanteras and another about important stocks last week. You can expect 10 more blogs from me on this series as we make the journey towards the Nifty's 13,000 mark. Read here CNBC-TV18 Anuj Singhal's exclusive take on the Nifty target. 

Afternoon Session: Sensex, Nifty flat, midcaps outperform; Airtel, BPCL top gainers##Afternoon Session: Sensex, Nifty flat, midcaps outperform; Airtel, BPCL top gainers

Indian benchmark equity indices, the BSE Sensex and NSE Nifty50, traded flat on Monday afternoon amid profit-booking in blue-chips HDFC Bank, Reliance Industries, Tata Consultancy Services, and ICICI Bank, which weighed on indices. 

The BSE Sensex was down over 45 points to trade at 40,311 at 1.12 pm. The NSE Nifty50 was 6 points lower to trade at 11,889. 

Among sectoral gauges, bank, auto, financial service, FMCG, IT and the private bank declined, while media, metal, pharma, PSU bank and realty shares advanced. The laggards included Yes Bank, Britannia, Bajaj Auto, M&M, Nestle, Hero MotoCorp and HDFC Bank, which fell by up to 3.5 percent.

BSE Index Update: 17 out of 30 BSE stocks in red##BSE Index Update: 17 out of 30 BSE stocks in red

The 30-share S&P BSE Sensex index pared gains on Monday after heavyweights like HDFC Bank, Bajaj Auto, Asian Paints along with others were trading in the red zone. YES Bank remained the top loser in the index, falling 3.42 percent. While HDFC Bank's shares fell 1.26 percent. 

Nifty Indices Update: 6 out of 11 sectors trading in red##Nifty Indices Update: 6 out of 11 sectors trading in red

Half of Nifty50's sectoral indices are trading in the red zone today due to drag in the FMCG stocks. The sector is witnessing consumption slowdown resulting in decline in the share prices' of FMCG giants. On the contrary, Nifty Pharma, Nifty Metal and Nifty PSU Bank were the only indices that rose over 1 percent, trying to move the index upwards. 

Drastic changes needed to develop debt market, says former SEBI chief UK Sinha##Drastic changes needed to develop debt market, says former SEBI chief UK Sinha

Acknowledging that "lack of a good debt market is a national problem", former SEBI chairman UK Sinha said that there was a need for drastic changes to develop the same.

“We need some drastic changes in the way we can develop the debt market... there are dozens of reports pointing out how that should be done and the corporate bond market can develop only on the back of a very vibrant government bond market," said Sinha in an interview with CNBC-TV18.

On whether or not there is a possible resolution for the NBFCs under the insolvency and bankruptcy code (IBC), he said, "Global experience is that financial sector companies require a different sets of rules."

“The government is incrementally trying to test the waters," said Sinha, adding that some financial sector companies can be tackled through the IBC mechanism.

Talking about loans against shares, he said, “In hindsight, maybe things could have been looked at more promptly and timely but the good thing is that at last, things are under control so far as the regulatory regime is concerned and my feeling is that the new changes which Securities and Exchange Board of India (Sebi) has brought about, for example: liquid funds must be having 20 percent in liquid assets, the sectoral caps have been reduced, must-have investments only in listed commercial papers (CPs) and non-convertible debentures (NCDs), graded exit load for first 7 days... I think these will provide a lot of comfort and safety to the investors."

This public sector bank stock could rise 24% in the next 12 months, says Kotak Equities##This public sector bank stock could rise 24% in the next 12 months, says Kotak Equities

Kotak Institutional Equities has maintained a 'buy' rating on State Bank of India (SBI) shares with a long-term target price of Rs 400. The long-term price target of Rs 400 has an upside potential of over 24 percent from the scrip's closing price of Rs 322 on Friday.

SBI shares traded at Rs 326.65 per share on Monday, after opening at Rs 324 apiece on BSE at 11.22 am. Here is the article for you to read!

India trade data points to a serious slowdown##India trade data points to a serious slowdown

The October trade deficit came in at $11 billion, little changed from $10.8 billion in September. When you look at September versus October, it looks like there is not much change. Ideally, the way to look at imports and exports is year-on-year (YoY) because it is a seasonal thing. 

In exports, while it is largely accounted for petrochemical products. India imports a lot of crudes and sells specialized petrochemical products. Oil imports in October fell 31.74 percent to $9.63 billion YoY.

Here's the link to the entire article: Latha Venkatesh explains why India trade data presents a gloomy picture

Glenmark Pharma's shares rise 9% after CLSA's rating change##Glenmark Pharma's shares rise 9% after CLSA's rating change

The share price of Glenmark Pharma rose nearly 9 percent on Monday, extending gains from Friday after global brokerage CLSA upgraded the stock to 'buy' from 'sell' and raised target price to Rs 410 per share from Rs 350 earlier.

The stock gained as much as 8.7 percent to Rs 327.60 per share on the BSE. At 9:50 am, the stock was trading 7.7 percent higher, at Rs 324.50, as compared to a 0.03 percent or 11 points rise in BSE Sensex at 40,368.

Read more on this article here: Find out why Glenmark Pharma rose 9 percent on Monday