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

1. Sensex & Nifty snap 8-day gaining streak

2. Midcaps outperform Sensex & Nifty with index closing in the green

3. Nifty Bank falls the most amongst frontliners; all contituents lower

4. 6 of the top 10 Nifty losers are financials; SBI & Kotak Mahindra Bank top loses

5. Nifty falls 58 points to 12,891 & Sensex 236 points to 43,357

6. Nifty Bank slips 566 points to 28,279 while midcap rises 108 points to 18,183

7. Consumption names like Hindustan Unilever, ITC & Britannia gain; FMCG top gaining index

8. Jubilant Foodworks closes with minor gains; SSSG declines 20% v/s poll of 15-16% decline

9. Fertilier stocks gain on governemnt's announcement of subsidy for farmers; FACT up 5%

10. Page Industries up over 2% after reporting better-tahn-expected earnings

11. Market Breadth favours advances; advance-decline ratio at 3:2

Nov 12, 2020 3:52 PM

Closing Bell: Sensex, Nifty end lower after 8 sessions of gains; Nifty Bank down 2%

Indian indices ended lower on Thursday, snapping 8 sessions of gains after a slew of announcements by the Finance Minister Nirmala Sitharaman to boost the economy failed to impress the Street. Losses in the benchmarks were led by banks and financials.

The Sensex ended 236 points lower at 43,357 while the Nifty lost 58 points to settle at 12,691. Broader markets, however, outperformed, the benchmarks with Nifty Midcap and the Nifty Smallcap indices up 0.5 percent and 1.3 percent, respectively.

Announcing a new set of stimulus measures dubbed as Stimulus 2.0, Finance Minister Nirmala Sitharaman on Thursday said India is seeing a “strong recovery” taking root in the economy, as seen by increased goods and service tax collections and other metrics. The FM announced 12 measures in Stimulus 2.0 from credit guarantee to EPFO subsidy to tax relief for homebuyers.

On the Nifty50 index, HUL, Grasim, Shree Cement, Hindalco and ITC were the top gainers while SBI, Kotak Bank, Coal India, IndusInd Bank and NTPC led the losses.

The Nifty Bank and Nifty Fin Services sectors fell 1-2 percent during the day while the Nifty Metal index also lost 0.5 percent. However, the Nifty FMCG jumped 1.5 percent and the IT, auto and pharma indices were also positive for the day.

Nov 12, 2020 3:36 PM

Cochin Shipyard Q2 Earnings: The company's consolidated net profit was down 48.4% at Rs 106.7 crore against Rs 206.7 crore and revenue was down 32.4% at Rs 657.4 crore versus Rs 972.9 crore. Revenue also slipped 32.4 percent YoY to Rs 657.4 crore as compared to Rs 972.9 crore in the same period a year ago. EBITDA fell 39 percent YoY while the margin plunged 200 bps to 19.1 percent v/s 21.2% last year.

Nov 12, 2020 3:25 PM

PFC Q2FY21 | The company has reported 46.1 percent YoY rise in its Q2 net profit at Rs 5,288.9 core as against Rs 3,619.6 crore and revenue increased 16.9 percent to Rs 18,158.3 crore from Rs 15,528.8 crore, YoY.

Nov 12, 2020 3:16 PM

Nov 12, 2020 3:14 PM

Engineers India | The company board approved the proposal to buyback of not exceeding 6,98,69,047 equity shares of face value of Rs 5 each of the company at a price of Rs 84 per equity share payable in cash for an aggregate consideration not exceeding Rs 586.90 crore.

Nov 12, 2020 3:04 PM

Finance Minister Nirmala Sitharaman; Atmanirbhar Bharat Rozgaar Yojana

Nov 12, 2020 2:55 PM

Samvat 2077: Top large, mid and smallcap stocks to look at this Diwali

Brokerage house IIFL Securities brings you a portfolio of 10 stocks including large-caps, midcaps and small-caps which can deliver between 11 percent and 46 percent returns in one year's time. Samvat 2076 had a very volatile journey with Nifty touching all-time highs as well as multiple-year lows in the same period.

The pandemic affected the markets as well as the economy, however, recovery seems to have started lifting the markets upwards. For Samvat 2077, IIFL Securities likes RIL, Infosys, ICICI Bank, HCL Tech and Dr Reddy's in the large-cap space and Tube Investments, Apollo Tyres, Persistent Systems, JB Chemicals and SIS from the midcap and smallcap segment. Read here for more

Nov 12, 2020 2:50 PM

Dhanteras 2020: Here are discount, cashback offers available on gold, diamond purchase

Jewellery firms such as PC Jeweller and Tanishq have announced cashback and discounts on select gold and diamond products on the occasion of Dhanteras and Diwali 2020. The cashback schemes launched by jewellers—including discounts on making charges could be a good demand booster, experts believe.

Here are some of the offers announced by the jewellery firms on the occasion of Dhanteras and Diwali 2020:

PC Jeweller

PC Jeweller is offering 5 percent cash back on minimum spends of Rs 30,000 (where maximum cashback can be up to Rs 5,000) on purchases done from its stores and website. This is valid only on Kotak and RBL bank debit and credit cards. Read more here

Nov 12, 2020 2:39 PM

Page Industries Q2 earnings

Nov 12, 2020 2:14 PM

FM Nirmala Sitharaman LIVE: The Finance Minister announced launching a credit guarantee support for all 26 stressed sectors.The government has extended the emergency credit line guarantee scheme till March 31, 2021.

Nov 12, 2020 2:03 PM

FM Nirmala Sitharaman Press Conference: Central govt will give subsidy for new employees for establishments upto 1000 employees; total 24% of the wage contribution will be borne by the govt - only EPF contribution of 12% for establishments with 1000 plus employees

Eligibility criteria for refurbished employment scheme:

Minimum 2 new employees upto 50 if reference base is 50 and less

Minimum 5 new employees if reference base is above 50

Scheme operational till June 2021

Units with between 15-1000 employees to benefit from Rozgar scheme

Nov 12, 2020 1:52 PM

FM Nirmala Sitharaman announces Aatmanirbhar Bharat Rozgar Yojana

Nov 12, 2020 1:44 PM

Bank Index Update: IndusInd Bank and Axis Bank down 2.3 percent while HDFC Bank slips over a percent. All Nifty Bank constituents are in red, with SBI and ICICI Bank as the index top losers.

Nov 12, 2020 1:32 PM

ICICIdirect on Aarti Industries: Q2 revenues were a beat amid strong volume growth though margins were lower amid higher fixed cost, lower speciality chemicals margins. Aarti Industries has reiterated flattish net profit guidance for FY21 and strong double digit growth from FY22. Leveraging core knowledge of benzene-based derivatives, the company is continuously expanding product basket towards value added products up the value chain.

In pharma, strong growth expected from developed markets backed by integrated model and new launches. Margins are also expected to improve due to incremental addition of high-value products. ICICIdirect like the company’s leadership position and strong visibility on order book. We assign buy with a target price of Rs 1235 (22x of FY23E EPS of Rs 56.1). (Source: Moneycontrol)

Nov 12, 2020 1:20 PM

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