Heavy selling during the second half of the session dragged the benchmark equity indices nearly 1 per cent down on Monday ahead of key economic data, such as September IIP and October CPI. A falling rupee as well as rising crude oil prices dented market sentiment on Monday.
The BSE Sensex lost 345 points to settle the day at 34,812, while NSEs Nifty50 dipped 103 points to 10,482.
Heres a quick wrapup of the key developments of Mondays session:
Earnings impact:
1. Shares of Avanti Feeds plunged 11 per cent on Monday after the company on Saturday posted a 60.11 per cent year-on-year (YoY) fall in net profit at Rs 46.40 crore for the quarter ended September 2018. The company had posted Rs 116.34 crore profit for the corresponding quarter last year. The scrip closed 11.25 per cent down at Rs 375.10.
2. Dredging Corporation slipped over 3 per cent after the company reported a net loss of Rs 79.16 crore for the second quarter ended September 30, 2018 on account of higher expenses and decline in income. It had posted a net profit of Rs 18.59 crore in the corresponding quarter last year.
3) Shares of Rashtriya Chemicals & Fertilizers closed 0.48 per cent higher after it reported a 65 per cent increase in its net profit at Rs 17.80 crore for the quarter ended September on higher sales. Its net profit stood at Rs 10.79 crore in the year-ago period.
Who moved my Sensex
The HDFC twins, Reliance Industries, ITC, Maruti Suzuki and State Bank of India (SBI) contributed the most to the fall in the index. On the other hand, Kotak Mahindra Bank, Infosys and Tata Steel did some damage control.
Asian peers end mixed
Asian markets settled mixed as global growth worries persisted and investors awaited key economic indicators from China due on Wednesday for directional cues. Hang Seng, Nikkei and Shanghai gained 0.12 per cent, 0.09 per cent and 1.20 per cent, whereas Kospi, Straits Times and Jakarta Composite slipped up to 1.68 per cent.
Spurt in open interest
Shree Cement witnessed the biggest spike in open interest at 20.69 per cent, followed by Repco Home (20.14 per cent), Wockhardt (19.59 per cent) and MGL (18.50 per cent).
Select midcaps, smallcaps rally up to 20%
Although the BSE Midcap and Smallcap indices ended in the red, select stocks from these segments rallied up to 20 per cent. Wockhardt (up 9 per cent), DHFL (up 4 per cent) and Future Retail (up 3 per cent) were the top gainers in the midcap space while Pokarna (up 20 per cent), BGR Energy (up 15 per cent), Dalmia Sugar (up 14.62 per cent) and Dhampur Sugar (up 10 per cent) were among the top gainers in smallcap universe.
Rupee update
The domestic unit on Monday again breached the important level of 73-mark against dollar. The currency was trading 46 paise down at 72.96 against dollar after market hours. Demand for dollar from importers amid increasing global crude oil prices weight rupee.
Call/Put writing
On the option front, maximum Put open interest (OI) was seen at 10,000 followed by 9,800 strikes while maximum Call OI was at 11,000 followed by 10,700 strikes. There was fresh Call writing at 10,600 followed by 10,700 while Put unwinding was seen at all immediate strikes, which indicated limited upside for the market. The option band signified an immediate trading range between 10,400 and 10,600 levels, said Chandan Taparia, Associate Vice President, Analyst-Derivative, Motilal Oswal Financial Services.
Most active stocks
Infibeam, PC Jeweller, RCom, YES Bank, GMR Infra, JP Associates and SBI were the most active stocks in terms of volume. Titan, SBI, YES Bank, RIL, DHFL and PC Jeweller emerged as the most active stocks in terms of value.
@52-week highs/lows
As many as 30 stocks hit 52-week lows during the day. Prominent among them included Amtek Auto, Assam Company, Gitanjali Gems, Indosolar, Shankar Building Products and Pincom Spirit. On the contrary, 9 scrips hit 52-week highs including Blue Chip India, Tijaria Polypipes and Usha Martin.
Aviation stocks slip
Shares of Jet Airways (India), SpiceJet and Interglobe Aviation plunged up to 6 per cent as oil prices jumped than 1.50 per cent after top exporter Saudi Arabia announced a supply cut in December and other producers considered reductions heading into 2019.
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