Closing bell: Sensex closes at record high, Nifty ends flat, auto stocks rise

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Mumbai: The BSE Sensex closed at record high on Monday, while the NSE Nifty erased all gains and ended flat. The Sensex hit a new record and reached 33,800 points in afternoon trade on Monday. The Nifty too set a new record and was trading above 10,450. The Sensex fell in early trade on profit booking in metal, oil and gas, banking, teck and PSU stocks after a recent rally. Besides, capital outflows by foreign funds and a mixed trend at other Asian bourses and caution ahead of earnings from some more bluechip companies this week influenced the sentiment, brokers said.

Foreign portfolio investors sold shares worth a net Rs9,690.84 crore on Friday, according to provisional data released by stock exchanges. Asian markets were mixed with Hong Kong’s Hang Seng dropping 1.13% while Japan’s Nikkei moving up by 0.05% in early trade. The Shanghai Composite Index shed 0.18%. The US Dow Jones Industrial Average ended 0.10% higher in Friday’s trade. Here are the latest updates from the markets:

■ 3.33pm: BSE Sensex closed higher by 45.63 points, or 0.14%, to 33,731.19, while the Nifty 50 ended little changed at 10,451.80, down 0.01%.

■ 3.25pm: ONGC, Tata Motors, M&M and Cipla were among the top gaining shares with gains to the tune of 4%, 2.79%, 2.53% and 2.17%, respectively. Shares of Sun Pharma, NTPC, Bharti Airtel and Lupin fell 1.86%, 1.76%, 1.73% and 1.65%, respectively.

■ 3.23pm: Among the sectoral indices, the consumer durables index surged 8.63% led by Titan Co. Ltd, which rose 18.95%. Auto rose 1.16%, consumer discretionary goods and services was up 1.07% and IT gained 0.89%. Meanwhile, the telecom index dropped most and was down 1.12% followed by energy 0.59% and power 0.60%.

■ 2.45pm: BSE Sensex rose 92.45 points, or 0.27%, to 33,778.01, while the Nifty 50 gained 17.40 points, or 0.17%, to 10,469.90.

■ 2.40pm: Welspun Corp appointed Vipul Mathur as managing director and chief executive officer, replacing Lalit Naik, who has resigned from the posts. Shares fell 2.75% to Rs153.55.

■ 2.30pm: Shares of Jindal Steel, Essar Shipping and few other firms fell on Monday by up to 2.3% amid reports that their names have cropped up in the leaked list of ‘Paradise Papers’ of companies. The scrip of Jindal Steel and Power fell by 2.32%, Essar Shipping lost 2% and Videocon Industries went down by 1.82% on BSE. Also, shares of Sun TV Network fell by 1.74%, GMR Infrastructure declined by 1.57% and Apollo Tyres dipped 0.88%.

■ 2.28pm: BSE Sensex rose 106.09 points, or 0.31%, to 33,791.65, while the Nifty 50 gained 21.40 points, or 0.20%, to 10,473.90.

■ 2.25pm: The European STOXX 600 fell 0.09%, Germany’s DAX was down 0.17%, UK’s FTSE 100 fell 0.09% and the France’s CAC fell 0.28%.

■ 1.42pm: Piramal Enterprises Ltd’s shares rose 3.06% to Rs2,774 after the company said its September quarter consolidated net profit rose to Rs384 crore versus profit of Rs306 crore last year. Quarterly consolidated revenue from operations stood at Rs2,536 crore versus Rs1,966 crore last year.

■ 1.00pm: .BSE Sensex rose 118.77 points, or 0.35%, to 33,804.33, while the Nifty 50 gained 24.05 points, or 0.23%, to 10,476.55.

■ 12.57pm: Indian Bank shares rose 8.53% to Rs376.80 after the bank said its September quarter net profit rose to Rs452 crore versus net profit of Rs405 crore year ago. The company earned Rs4,160 crore in interest in this quarter versus Rs3,994 crore year ago.

■ 12.50pm: Loyal Equipments Ltd shares jumped nearly 10% to Rs35.25 after it said the company received order worth Rs6.5 crore from Burckhardt Compression India for supply of console and pressure vessels.

■ 11.55am: BSE Sensex was trading flat at 33,684.60, while the Nifty 50 was down 6.95 points, or 0.07%, to 10,445.55.

■ 11.45am: Mahindra & Mahindra Ltd rose 3% to Rs 1370 after the company said its board will meet on 10 November to consider bonus shares.

■ 11.38am: Uco Bank Ltd fell 3% to Rs 33.80 after the company said its loss widened to Rs622.56 crore in the quarter to September on the back of increasing non-performing assets, or NPAs. The lender reported a net loss of Rs384.83 crore in the year-ago period.

■ 11.35am: Idea Cellular Ltd fell 2.7% to Rs 103.15 after brokerage firm IIFL have downgraded the stock to reduce from Buy. It raised its target price to Rs 91 from Rs 90.

■ 11.19am: BSE Sensex rose 14.47 points, or 0.04%, to 33,700.03, while the Nifty 50 was down 7.15 points, or 0.07%, to 10,445.35.

■ 11.16am: Capacite Infraprojects Ltd said it has bagged an order worth Rs825.01 crore from Arihant Abode Ltd for a housing project. Shares of Capacite rose 4.43% to Rs383.30.

■ 11.10am: Indian Bank Ltd, L&T Infotech Ltd, Just Dial Ltd, KEC International Ltd, Rural Electrification Corp. Ltd, Petronet LNG Ltd and Thomas Cook (India) Ltd are some of the companies that will release their earnings for the September quarter on Monday.

■ 10.39am: BSE Sensex fell 16.55 points, or 0.05%, to 33,669.01, while the Nifty 50 lost 14.15 points, or 0.14%, to 10,438.35.

■ 10.35am: Shares of Reliance Nippon Life Asset Management Ltd debuted 16% higher on the bourses on Monday, after India’s third-largest mutual fund manager saw its Rs1,542 crore initial public offer (IPO) was subscribed more than 81 times last month. Reliance Nippon shares opened 16.66% higher on the BSE at Rs294 a piece , compared to the issue price of Rs252 , which was the upper end of the price band between Rs247-252 per share.

■ 10.30am: ADAG Group stocks fell ahead of Reliance Nippon Life Asset Management listing. Reliance Communications Ltd fell 6%, Reliance Capital Ltd 4.2%, Reliance Infrastructure Ltd 3%, Reliance Power Ltd fell 1%

■ 9.58am: BSE Sensex fell 100.59 points, or 0.30%, to 33,584.97, while the Nifty 50 lost 36.85 points, or 0.35%, to 10,415.65

■ 9.55am: Kitex Garments Ltd hits 20% upper circuit after the company reported better then expected earnings. The company reported 85% growth in its September quarter net profit to Rs24.12 from Rs13.06 crore a year ago.

■ 9.53am: Unichem Laboratories Ltd rose 2.1% to Rs320 after the company sells formulations business for 36 billion rupees ($556m) to Torrent Pharmaceuticals.

■ 9.50am: Shares of ONGC and Oil India Ltd rose 1.49% and 2.38%, respectively. The oil ministry is expected to approach the Union Cabinet to allow private companies take 60% stake in producing oil and gas fields of national oil companies, ONGC and Oil India Ltd.

■ 9.25am: BSE Sensex opened higher by 8.25 points, or 0.02%, to 33,693.81, while the Nifty 50 edged down 7 points, or 0.07%, to 10,445.50.

■ 9.23am: Titan Co. Ltd rose 20% to Rs784 after the company reported better-than-expected earnings. Profit jumped 67.44% in its September quarter versus the same period a year ago on strong sales in its jewellery business. Consolidated net profit rose to Rs277.93 crore in the three months to September from Rs165.98 crore a year ago, the company said in a BSE filing on Friday. Total revenue increased 29.56% to Rs3,517.70 crore from Rs2,714.98 crore a year ago.

■ 9.20am: Other Jewellery stocks also gained. PC Jeweller Ltd rose 6%, Gitanjali Gems Ltd rose 4%, Tribhuvandas Bhimji Zaveri Ltd 8%, Tara Jewels Ltd 4%, Thangamayil Jewellery Ltd 1%.

■ 9.17am: Amtek Group extended its Friday’s gains as Bharat Forge in race to acquire company. Amtek Auto Ltd rose 11%, Castex Technologies Ltd rose 10%, Metalyst Forgings Ltd 8%.

■ 9.15am: The rupee opened at 64.66 a dollar. At 9.15am, the home currency was trading at 64.67 against the dollar, down 0.20% from its Friday’s close of 64.55.

■ 9.13am: The 10-year bond yield was at 6.871% compared to its previous close of 6.858%. Bond yields and prices move in opposite directions.

■ 9.10am: Asian currencies were trading lower. South Korean won was down 0.34%, Japanese yen 0.26%, Indonesian rupiah 0.21%, Philippines peso 0.20%, Malaysian ringgit 0.09% and Taiwan dollar 0.05%. However, Thai baht and China renminbi were up 0.05% each. The dollar index, which measures the US currency’s strength against major currencies, was trading at 94.69, up 0.01% from its previous close of 94.685.