Daily Market Update: NIFTY and Sensex end in red, IT stocks among biggest losers.

Date: 21/11/2018

Short Market Update: Markets end on a negative note, DHFL reported 52.55% growth and Oil prices claw back.

Markets witnessed selling pressure during closing hours. IT and energy stocks witness selling.

BSE Sensex down 274.71 points or 0.77% and closed at Rs 35,199.80, and NSE Nifty ended lower by 56.20 points or 0.53% at Rs 10,600. BSE Mid Cap up 94.73 points or 0.64% and closed at Rs 14,991.12. While, Small Cap Index ended almost flat, up 8.94 points or 0.06% and ended at Rs 14,414.49.

Today’s top gainers were Dr. Reddy’s, Yes Bank, and Grasim.

Biggest losers were TCS, Infosys, Power Grid Corp, and Tech Mahindra.

Quarter Results

Dewan Housing Finance Corporation reported massive growth of 52.55% YoY in its Q2 profits, despite a sharp rise in liquidity crisis and provisions.

Clawback in oil prices

As a result of an unexpected decline in US commercial crude inventories and record Indian crude imports, the oil prices recovered after the 6% plunge over the past days. 

A fund that invests considering current account deficit

Indiabulls MF launched Indiabulls Equity Hybrid Fund that will invest in equity while also considering the current account deficit.

Structure for Debt ETF’s to be ready by March 2019

Debt ETF’s will be a combination of ETFs and Mutual funds issued in the form of bonds. Regarding the structure of these bonds, the ministry is working it out with Central Public Sector Enterprises (CPSEs) by considering financial needs of these enterprises over the next 3 years, 5 years and 10 years.

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