Here are this week's highlights:

1. Market posts biggest weekly losses in last one month

2. Sensex slips 2.6% & Nifty 2.4% this week

3. Nifty Bank erases half of last week gains, falls 2.4% this week

4. Midcap Index slips 1.4% & Nifty PSU Bank over 4% this week

5. Hero MotoCorp, SBI, HDFC, Hindalco & Bajaj Auto top Nifty losers this week

6. Kotak Bank, Nestle, Shree Cement, HDFC Life top gainers this week

Oct 30, 2020 3:58 PM

Here are the key highlights from today's market session:

1. Market begins November series on a weak note; closes lower for 3rd straight day

2. Sensex & Nifty end at nearly 1-month lows as global cues remain weak

3. Nifty fails to hold 11,700 & Nifty Bank closes below 24,000

4. Today’s gains help Midcap index turn positive for the month

5. Sensex sips 136 points to 39,614 & Nifty 28 points to 11,642

6. Nifty Bank falls 191 points to 23,901 while Midcap Index rises 93 points to 17,067

7. BSE loses market cap of more than Rs 2.6 lakh crore this week

8. Bharti Airtel top Nifty loser with a fall of 4%

9. Auto companies weak ahead of October sales; Hero MotoCorp, Eicher Motors & Maruti Suzuki top losers

10. ICICI Bank falls nearly 2% ahead of earnings; NII seen up over 16% YoY

11. BPCL gains nearly 4% after reporting Q2 earnings better than expected

12. IOCL moves over 1% higher; profit higher both on a QoQ & YoY basis

13. Blue Dart surges 14% on positive management commentary

14. Chola Investment & TVS Motor surge in trade on strong Q2 earnings

15. Vodafone Idea getting Rs 6,400 crore for AGR dues from Vodafone PLC lifts stock 5%

16. Market Breadth favours advances; advance-decline ratio at 1:1

Oct 30, 2020 3:56 PM

Closing Bell: Sensex ends 136 points lower, Nifty below 11,650; auto, banks decline

Indian shares ended lower on Friday dragged by losses in banks, FMCG and auto sectors. The sentiment was further weighed by a decline in world stocks as jitters over a rising global COVID-19 infection rate and next week’s U.S. presidential election.

The Sensex ended 136 points lower at 39,614 while the Nifty 28 points to settle at 11,642. Both indices ended around 2.5 percent lower for the week.

Meanwhile, broader markets were mixed during the day. The Nifty Midcap index rose 0.5 percent while the Smallcap index fell 0.5 percent.

On the Nifty50 index, Adani Ports, BPCL, Coal India, NTPC and Sun Pharma were the top gainers while Bharti Airtel, Hero Moto, Maruti, Eicher Motor and Bajaj Finance led the losses.

Among sectors, the Nifty Auto fell the most, down over 1 percent while the Nifty Bank and Nifty FMCG were down 0.8 percent each. Meanwhile, the Nfity Metal rose 1.5 percent while Nifty IT and Nifty Pharma were also in the green.

Oct 30, 2020 3:43 PM

Crude Updates: Global oil prices edged up on Friday, but are on track for a second monthly fall on growing concerns that the rise in COVID-19 cases in Europe and the United States could hurt fuel consumption.

Oct 30, 2020 3:22 PM

Dixon Techologies Q2 net profit comes in at Rs 52.4 crore, up 21.7% YoY while revenue rises by 17%, comes in at Rs 1,638.7 crore

Oct 30, 2020 3:10 PM

Bitcoin surges 5% to $13,600 led by ECB stimulus announcement

On Thursday, Bitcoin (BTC) price surged from $12,920 to $13,600 in four hours after the European Central Bank (ECB) said it might seek a new stimulus package in December. Also, optimistic job data from the US was another reason for the 5 percent rally in the BTC price, said CoinTelegraph.

Over the last month, the BTC prices went up by almost 30 percent on the back of Paypal's recent move to allow its customers buy and sell certain cryptocurrencies, and rising institutional interest.

Last week, BTC prices continued to rally despite the negative macro factors-- a steep decline in the US stock market and the rising number of COVID-19 cases in the country as well as in Europe. Read more

Oct 30, 2020 2:57 PM

Mahindra Life Q2: Net loss at Rs 13.5 crore against profit of Rs 15.7 crore (YoY). Revenue was down 90.5 percent at Rs 30.8 crore against Rs 324.5 crore (YoY). EBITDA loss at Rs 17.9 crore against Rs 14.3 crore (YoY). (Source: Moneycontrol)

Oct 30, 2020 2:42 PM

Karur Vysya Bank Q2FY21 | Net profit rose 81.5 percent to Rs 114.9 crore from Rs 63.3 crore while net interest income (NII) increased 0.9 percent to Rs 601.5 crore from Rs 596.3 crore, YoY. Gross NPA were at 7.9 percent against 8.3 percent and net NPA at 3 percent as against 3.4 percent, QoQ. Provisions were at Rs 284.7 crore versus Rs 337.6 crore QoQ and versus Rs 365.2 crore YoY.

Oct 30, 2020 2:21 PM

Oct 30, 2020 2:09 PM

Indian Oil Corporation Q2FY21 | Net profit jumped to Rs 6,227.3 crore as against Rs 1,910.8 crore while revenue rose 32.1 percent to Rs 85,610.4 crore from Rs 64,801 crore, QoQ. EBITDA increased 74.3 percent to Rs 9,607 crore as against Rs 5,512.3 crore and EBITDA margin stood at 11.2 percent as against 8.5 percent, QoQ.

Oct 30, 2020 2:05 PM

Sharp divergences seen across sectors in 2020; only 21 Nifty stocks positive YTD

2020 has been a year of unpredictability and volatility. In a report, brokerage house Motilal Oswal noted that the defining feature of equity market performance in 2020, so far, has been the sharp divergences across sectors.

"This has had material implication for alpha creation in CY20. At the same time, it has led to the creation of a new set of leaders for the market," the brokerage stated.

Currently, the Nifty is down around 3 percent YTD. The Nifty plunged 38 percent from its all-time highs in January to lows of 7,610 in March due to the COVID-19 pandemic. Since then, it has recovered almost all of its losses.

Even though the Nifty has recovered to pre-COVID levels, only 21 out of 50 companies have gained on a year-to-date basis. Click here to read more

Oct 30, 2020 1:58 PM

Jaikishan Parmar - Sr. Equity Research Analyst, Angel Broking: CanFin Homes reported a healthy set of numbers for Q2FY21. The loan book grew at 6% YoY and remained stable sequentially. NII growth was robust at 32% YoY, primarily led by a lower cost of funds. NIM jumped 29bps to 3.89% QoQ, which is one of the best NIM compared to the last many quarters. The incremental cost of funds is 6.54%. Pre-provision profit increased by 36%, and PAT jumped by 32%. Asset quality continues to remain stable. Total covid provisions on the balance sheet currently stand at Rs 86 crore, which adequate to absorb the next 3 quarter slippages as per management.

We have a positive view on Can Fin Homes considering stable asset quality, reduced competition from HFCs and the ability to raise funds at a competitive rate would help to report superior RoE.

Oct 30, 2020 1:45 PM

Solara Active Pharma's Q2 net profit sees a YoY jump of 96%, comes in at Rs 56.7 crore

Oct 30, 2020 1:28 PM

Should investors buy, sell or hold Maruti Suzuki after Q2 earnings?

India's largest passenger car manufacturer Maruti Suzuki reported a one percent rise in September quarter standalone net profit at Rs 1,371.6 crore from Rs 1,358.6 crore in the year-ago period. In Q1FY21, the company had posted a loss of Rs 249.4 crore.

Revenue from operations increased 10.34 percent to Rs 18,755 crore from Rs 16,997 crore, YoY. Maruti sold 3.93 lakh units in July-September quarter 2020, registering a 413 percent growth over the previous quarter and 16 percent over the year-ago period.

Higher sales volume, lower sales promotion expenses, lower operating expenses and cost reduction efforts supported the operating profit, but increase in commodity prices and adverse foreign exchange movement limited growth, Maruti said in its BSE filing. Click here to read more

Oct 30, 2020 1:13 PM

Motilal Oswal on Maruti Suzuki: Maruti Suzuki's Q2FY21 operating performance was impacted by higher non-RM cost, which diluted the benefits of lower discounts and operating leverage. Deferred demand seems to be the main demand driver and hence demand evolution is a key monitorable. Based on good Navratas and Dussehra demand, Diwali and the Nov–Dec’20 period are expected to be good. It maintain FY21/FY22 EPS and buy, with target price of Rs 7,850.

Oct 30, 2020 12:58 PM

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