Sensex sinks 200 pts; Nifty below 8000, loses 7.6% in Nov series

Equity benchmarks snapped two-day winning streak Thursday with the Nifty closing below 8000 level amid consistent weakness in rupee and expiry of November derivative contracts. Continued disruption in Rajya Sabha by opposition parties over demonetisation also dented market sentiment.

The 30-share BSE Sensex was down 191.64 points or 0.74 percent at 25860.17 and the 50-share NSE Nifty slipped 67.80 points or 0.84 percent to 7965.50 while the broader markets outperformed benchmarks. The BSE Midcap and Smallcap indices declined only 0.1 percent as the market breadth was positive. About 1350 shares advanced against 1205 declining shares on the exchange.

In November series, the Sensex shed 7.4 percent and the Nifty lost 7.6 percent, the biggest loss in a series since August 2013.

Private banks, oil, FMCG, select auto and pharma stocks were under pressure whereas technology and PSU banks bucked the trend.

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CS NIFTY FUTURES & BANK NIFTY FUTURES OVERVIEWS - 23 NOV 2016

CS NIFTY FUTURES (NOV) OVERVIEW

TREND MIXED TO bullish

RES2:8125

RES 1:8025

SUP1:7915

SUP2:7855

CS BANK NIFTY FUTURES (NOV) OVERVIEW

TREND MIXED TO BEARISH

RES 2:18955

RES 1:18825

SUP1:18275

SUP2:18075

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TOP CORPORATE NEWS - 22 NOV 2016

IRB Infra report weak Q2 earnings

IRB Infrastructure Developers has announced the following Q2 results for the quarter ended September 30, 2016 (YoY):

Standalone (YoY)

The Company has posted a net profit of Rs8.13 crore Vs Rs19.81 crore.

Total Income has to Rs756.56 crore Vs Rs675.09 crore.

Tata Motors, DIMO introduces new world class commercial vehicles

Tata Motors along with its Sri Lankan partner, Diesel & Motor Engineering PLC (DIMO), have launched a new world-class sales, Service & Spares facility catering to the company’s range of commercial vehicles in Kurunegala district, Sri Lanka.

The new facility is the largest integrated Tata Motors commercial vehicles dealership in the country, with a wide display area, for Tata Motors entire range of trucks & buses and would enable Tata Motors to boost sales.

Brigade ink pacts with Microsoft, Intel

Brigade Enterprises, one of the leading real estate developer in India has said that it has recently launched the country’s first real estate focused accelerator program. The accelerator will mentor startups whose products or services can be used in the real estate industry across various domains be it Residential, Office, Retail or Hospitality.

Brigade REAP will be a Microsoft Partner Accelerator. Microsoft Accelerator is a global initiative empowering entrepreneurs around the world on their journey to build great companies.

Sobha Q2 consolidated net profit at Rs38 cr

Sobha has announced the following Q2 results for the quarter ended September 30, 2016 (YoY):

Standalone (YoY)

The Company has posted a net profit of Rs35.30 crore Vs Rs31.80 crore.

Total Income increased to Rs536.90 crore Vs Rs498.50 crore.

L&T Construction wins orders worth Rs1926 cr

The construction arm of L&T won orders worth Rs1926 crore across its business segments; positive for L&T

Power T&D – Rs571 crore

Building & Factories – Rs514 crore

Water – Rs397 crore

Metallurgical- Rs298 crore

Civil Infra – Rs146 crore

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CS NIFTY FUTURES & BANK NIFTY FUTURES OVERVIEWS - 21 NOV 2016

CS NIFTY FUTURES (NOV) OVERVIEW
TREND MIXED TO BEARISH
RES2:8275
RES 1:8225
SUP1:8040
SUP2:7975

CS BANK NIFTY FUTURES (NOV) OVERVIEW
TREND MIXED TO BEARISH
RES 2:19275
RES 1:19175
SUP1:18925
SUP2:18775

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