Latest News

Pre-Session
18 Oct 2019, 8:23 AM
Market may halt recent upmove

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 35 points at the opening bell. Ambuja Cements and Reliance Industries will unveil their quarterly results today, 18 October 2019.

The Reserve Bank of India (RBI) will today, 18 October 2019 announce the minutes of its fourth bi-monthly monetary policy review meeting held on 4 October 2019.

Overseas, Asian stocks were trading lower on Friday on concern about the Chinese economy. The China Q3 GDP Growth Rate will be announced today, 18 October 2019.

US stocks rose on Thursday as investor sentiment was buoyed by a string of corporate earnings beats and encouraging geopolitical developments.

Back home, key benchmark indices rallied on Thursday, supported by banks, autos and FMCG stocks. Sentiment got a boost after European Union (EU) and UK negotiators reached a draft agreement on a new Brexit deal. Key domestic barometers extended gains to the fifth day. The barometer index, the BSE Sensex, rose 453.07 points or 1.17% to 39,052.06. The Nifty 50 index rose 122.35 points or 1.07% to 11,586.35.

The trading activity on that day showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 1158.63 crore yesterday, 17 October 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 511.76 crore yesterday, 17 October 2019, as per provisional data.

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Mid-Session
18 Oct 2019, 9:29 AM
Market drifts lower in early trade

Key indices are trading lower in early trade as profit booking emerged after five-day upmove. At 9:24 IST, the barometer index, the S&P BSE Sensex, was down 37.61 points or 0.1% at 39,014.45. The Nifty 50 index was down 20.90 points or 0.18% at 11,565.45. Negative Asian stocks also weighed on domestic stocks.

The S&P BSE Mid-Cap index was up 0.53%. The S&P BSE Small-Cap index was up 0.4%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was strong. On the BSE, 681 shares rose and 335 shares fell. A total of 40 shares were unchanged.

The Reserve Bank of India (RBI) will today, 18 October 2019 announce the minutes of its fourth bi-monthly monetary policy review meeting held on 4 October 2019.

Among stocks, Cipla shed 0.39%. Cipla announced the acquisition of a novel and patented anti-infective product, Elores, from Venus Remedies (VRL) for the Indian market to further strengthen its presence in the branded Indian critical care space and as a part of its agenda to contribute to the fight against Anti-Microbial Resistance (AMR). The announcement was made after market hours yesterday, 17 October 2019.

Zee Entertainment Enterprises fell 2.95%. The companys consolidated net profit rose 6.87% to Rs 413.23 crore on 7.62% rise in total income to Rs 2190.13 crore in Q2 September 2019 over Q2 September 2018. The result was announced after market hours yesterday, 17 October 2019.

South Indian Bank jumped 5.33% after net profit rose 20.46% to Rs 84.48 crore on 18.81% rise in total income to Rs 2203.18 crore in Q2 September 2019 over Q2 September 2018. The result was announced after market hours yesterday, 17 October 2019.

Indiabulls Housing Finance gained 1.14%. The company issued an offer to all debenture holder(s) for pre-mature redemption of its NCDs maturing in November and December 2019 at par. The company will also evaluate further pre-mature redemption of its NCDs from time to time. The announcement was made after market hours yesterday, 17 October 2019.

NOCIL rose 1.91%. NOCIL said that the company has after achieving mechanical completion started the trial runs effective 17 October 2019 at the companys plant situated at Dahej, in the state of Gujarat. The announcement was made after market hours yesterday, 17 October 2019.

Alicon Castalloy surged 11.83%. Alicon Castalloy has signed multi-year contracts aggregating Rs 810 crore with leading global OEMs and Tier 1 suppliers such as Jaguar Land Rover, Daimler, Samsung SDI & MAHLE. The announcement was made after market hours yesterday, 17 October 2019.

Overseas, Asian stocks were trading lower on Friday on concern about the Chinese economy. The China Q3 GDP Growth Rate will be announced today, 18 October 2019.

US stocks rose on Thursday as investor sentiment was buoyed by a string of corporate earnings beats and encouraging geopolitical developments.

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Mid-Session
18 Oct 2019, 10:30 AM
Sensex, Nifty hit days high; breadth strong

Key barometers extended early gains and hit an intraday high in morning trade. The Nifty crossed the 11,600 mark. At 10:27 IST, the barometer index, the S&P BSE Sensex, was up 147.98 points or 0.38% at 39,200.04. The Nifty 50 index was up 43.70 points or 0.38% at 11,630.05. Global investor sentiment was upbeat after the UK and European Unions draft Brexit deal on Thursday.

The S&P BSE Mid-Cap index was up 1.17%. The S&P BSE Small-Cap index was up 1.15%. Both these indices outperformed the Sensex.

The market breadth was strong. On the BSE, 1284 shares rose and 498 shares fell. A total of 94 shares were unchanged.

The market sentiment was also boosted by foreign funds turning net buyers of Indian stocks in the past few sessions. The trading activity showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 1158.63 crore yesterday, 17 October 2019, as per provisional data released by the stock exchanges.

Traders awaited fresh cues on potential trade deal between the US and China. Meanwhile, the Reserve Bank of India (RBI) will today, 18 October 2019, announce the minutes of its fourth bi-monthly monetary policy review meeting held on 4 October 2019.

Index pivotal Reliance Industries (RIL) was up 1.30% ahead of its Q2 results today.

Ambuja Cements (up 0.24%), ICICI Lombard General Insurance (down 0.3%), L&T Finance Holding (up 0.35%), L&T Technology Services (up 1.63%) and Central Depository Services (up 0.84%) will announce their Q2 2019 earnings today.

Larsen & Toubro Infotech was up 6%. On consolidated basis, the net profit rose 1.2% to Rs 360.1 crore in Q2 September 2019 as against Q1 June 2019. The companys total income rose 3.03% to Rs 2664.40 crore on QoQ basis. In a separate announcement, the company approved 100% acquisition of PowerupCloud Technologies. This acquisition will help LTI strengthen its cloud services capabilities through a combination of right leadership, assets and ecosystem connects.

Nocil was up 2.14%. The company announced the commencement of trial production at the companys Phase II plant situated at Dahej, in the state of Gujarat. The company further reported that commercial production will start on receipt of approvals from major customers.

The Nifty Metal index was up 1.39% at 2,444.45, extending previous sessions gains. Hindustan Copper (up 15.02%), National Aluminium Company (up 5.69%), Steel Authority of India (up 5.51%), NMDC (up 3.38%), Hindustan Zinc (up 2.81%), Vedanta (up 1.92%), Jindal Steel & Power (up 1.39%) and Hindalco Industries (up 0.32%) advanced.

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Mid-Session
18 Oct 2019, 11:26 AM
Benchmarks turn rangebound; RIL hits Rs 9 trillion market cap

Key indices traded in a narrow range near days high in mid-morning trade. The Nifty held firmly above the 11,600 level. Buying was broad based with IT stocks making the biggest up moves. Further gains were capped as Asian shares erased early gains after weak China GDP.

At 11:22 IST, the barometer index, the S&P BSE Sensex, was up 180.69 points or 0.46% at 39,232.75. The Nifty 50 index was up 49.20 points or 0.42% at 11,635.55.

The S&P BSE Mid-Cap index was up 1.32%. The S&P BSE Small-Cap index was up 1.27%. Both these indices outperformed the Sensex.

The market breadth was tilted in favor of bulls. On the BSE, 1383 shares rose and 621 shares fell and a total of 129 shares were unchanged. In Nifty 50 index, 31 stocks advanced and 19 stocks declined.

Reliance Industries (RIL) rose 1.92% to Rs 1423, ahead of its Q2 results today. RIL has become the first Indian company to cross Rs 9 trillion market capitalization after its shares hit its 52-week high of Rs 1428 in intraday today.

Bharat Heavy Electricals (Bhel) soared 26.71% to Rs 56.45 on reports the government may consider bringing down its stake in Bhel to 26% from 63.17% now.

3M India fell 4.34% to Rs 21896.35. The stock slipped in trade as the total traded shares stood at 3457 shares, over 14 times its 2-week average trading volume of 243 shares.

Jay Bharat Maruti tumbled 4.81% to Rs 187.05 after consolidated net profit declined 77.1% to Rs 3.76 crore on a 25.2% decline in total income to Rs 411.62 crore in Q2 September 2019 compared with Q2 September 2018. The result was announced after market hours yesterday, 17 October 2019.

TVS Motor Company rose 3.28% to Rs 452.80, extending yesterdays 6.26% gain. The firms consolidated net profit rose 15.09% to Rs 256.88 crore on a 9.17% decline in total income to Rs 4,966.88 crore in Q2 September 2019 compared with Q2 September 2018. The result was announced during market hours yesterday, 17 October 2019.

The Nifty IT index was up 0.70% at 15,389.60, reversing previous sessions losses. Zensar Technologies (up 2.44%), TCS (up 0.81%), MphasiS (up 0.8%), Hexaware Technologies (up 0.73%), Wipro (up 0.58%), HCL Technologies (up 0.51%), Tech Mahindra (up 0.51%), MindTree (up 0.44%), Infosys (up 0.29) and Oracle Financial Services Software (up 0.05%) advanced.

In the foreign exchange market, the partially convertible rupee edged lower and was hovering at 71.2075, compared with its close of 71.16, during the previous trading session.

Overseas, most Asian stocks were trading lower on Friday after China posted its weakest growth in nearly three decades.

China Gross domestic product (GDP) expanded 6% in third quarter ended September 2019, compared with 6.2% in the second quarter, official figures showed on Friday. The Chinese economy grew at 6.6% in 2018. However, the Industrial Production rose 5.8% year-on-year in September, after growth of 4.4% in August. Meanwhile, consumer spending, as represented by Retail Sales, rose 7.8% year-on-year in September.

On the U.S.-China trade front, White House economic adviser Larry Kudlows commented that he sees momentum to finalize the initial phase of a U.S.-China trade deal outlined last week, adding it may be signed at the APEC forum next month.

Yesterday, Britain and the European Union agreed to a draft Brexit deal. At a news conference with Prime Minister Boris Johnson, European Commission President Jean-Claude Juncker said the deal meant there would be no need for a further delay to Britains departure and negotiations on the future relationship between Britain and the EU would begin as soon as the deal was approved by the UK and European parliaments.

The US stock market finished session near records high on Thursday as risk sentiments boosted up by better than expected corporate earnings reports from U.S. companies such as Netflix and Morgan Stanley and optimism from a Brexit draft agreement.

US industrial production fell by 0.4% in September after climbing by an upwardly revised 0.8% in August, the Federal Reserve released a report on Thursday.

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Mid-Session
18 Oct 2019, 12:33 PM
Nifty above 11,650; pharma stocks in demand

Key barometers further extended gains and hit fresh intraday high in early afternoon trade. The Nifty traded above 11,650. Pharma stocks were in demand. At 11:22 IST, the barometer index, the S&P BSE Sensex, was up 218.96 points or 0.56% at 39,271.02. The Nifty 50 index was up 65.75 points or 0.57% at 11,652.10.

The S&P BSE Mid-Cap index was up 1.61%. The S&P BSE Small-Cap index was up 1.54%. Both these indices outperformed the Sensex.

The market breadth was titled in favour of bulls. On the BSE, 1476 shares rose and 753 shares fell and a total of 134 shares were unchanged. In Nifty 50 index, 36 stocks advanced and 14 stocks declined.

On the derivatives front, the NSEs India VIX, a gauge of markets expectation of volatility over the near term, fell 0.44% to 15.8075. The Nifty October 2019 futures were trading at 11,653.05, a premium of 1.75 points compared with the spot at 11,651.30.

On the options front, the Nifty option chain for 31 October 2019 expiry showed maximum call open interest (OI) of 23.35 lakh contracts at the 12,000 strike price. Maximum put OI of 30.91 lakh contracts was seen at 11,000 strike price. The option chain indicates that Nifty will stay between 11,000 and 12,000 in October expiry.

The Nifty Pharma index was up 0.88% higher at Rs 7,599.75, rising for sixth consecutive session. The index is up 5.03% in six trading sessions from its close of 7,235.60 on 10 October 2019.

Piramal Enterprises (up 4.13%), Aurobindo Pharma (up 3.1%), Wockhardt (up 2.91%), IPCA Laboratories (up 2.58%), Alkem Laboratories (up 1.97%), Glenmark Pharmaceuticals (up 1.51%), GlaxoSmithKline Pharmaceuticals (up 1.34%), Cadila Healthcare (up 0.69%), Lupin (up 1.04%), Sun Pharmaceuticals (up 0.26%) and Divis Laboratories (up 0.22%) advanced.

Cyient rose 0.48% to Rs 448.60 after the software firm announced its Q2 results after trading hours yesterday, 17 October 2019. The companys consolidated net profit jumped 8.83% to Rs 98.50 crore on 6.41% rise in net sales to Rs 1,158.90 crore in Q2 September 2019 compared with Q1 June 2019.

Reliance Nippon Life Asset Management was up 2.43%. The firm announced in an exchange filing that the promoters have released the pledge over the companys 0.58% shareholding.

On the NSE, 31 securities hit fresh 52 week high which includes names like Adani Green Energy (up 3.44%), Alkem Laboratories (up 2.06%), Bajaj Finance (up 0.76%), Berger Paints (up 1.56%), Blue Star (up 0.87%), Avenue Supermarts (up 0.37%), GlaxoSmithKline Consumer Healthcare (up 0.12%), Hindustan Unilever (up 0.1%), ICICI Prudential Life Insurance Company (up 0.75%), Kansai Nerolac Paints (up 3.24%), Manappuram Finance (up 5.62%), Nestle India (up 0.63%), Relaxo Footwears (up 3.06%) and Reliance Industries (up 1.93%).

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Mid-Session
18 Oct 2019, 1:28 PM
Strong market breadth

Key barometers traded near the days high in afternoon trade. At 13:25 IST, the barometer index, the S&P BSE Sensex, was up 187.54 points or 0.48% at 39,239.60. The Nifty 50 index was up 56.20 points or 0.50% at 11,644.45.

The market sentiment was boosted by foreign funds turning net buyers of Indian stocks in the past few sessions. The trading activity showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 1158.63 crore yesterday, 17 October 2019, as per provisional data released by the stock exchanges.

Traders awaited fresh cues on potential trade deal between the US and China. Meanwhile, the Reserve Bank of India (RBI) will today, 18 October 2019, announce the minutes of its fourth bi-monthly monetary policy review meeting held on 4 October 2019.

The S&P BSE Mid-Cap index was up 1.55%. The S&P BSE Small-Cap index was up 1.47%. Both these indices outperformed the Sensex.

The market breadth was strong. On the BSE, 1505 shares rose and 801 shares fell and a total of 173 shares were unchanged. In Nifty 50 index, 31 stocks advanced and 19 stocks declined.

Adani Ports and Special Economic Zone (up 2.87%) Coal India (up 2.83%), Grasim Industries (up 2.08%), Power Grid Corporation of India (up 1.45%) and Tech Mahindra (up 1.42%) advanced.

Tata Motors (down 0.84%), Eicher Motors (down 0.83%), Bajaj Auto (down 0.82%), Hindalco Industries (down 0.64%) and Bharti Airtel (down 0.53%) declined.

Reliance Industries (RIL) rose 1.90% to Rs 1422.65, ahead of its Q2 results today. RIL has become the first Indian company to cross Rs 9 trillion market capitalization after its shares hit its 52-week high of Rs 1428 in intraday today.

Larsen & Toubro rose 1.78% to Rs 1449.60. L&T informed about the acquisition of 81.90 lakh shares, aggregating to 2.551% of the shareholding, of its subsidiary L&T Infrastructure Development Projects for a cash consideration of Rs 47.997 crore.

Zee Entertainment Enterprises fell 3.70% to Rs 254.90. The companys consolidated net profit rose 6.87% to Rs 413.23 crore on 7.4% rise in net sales to Rs 2122.01 crore in Q2 September 2019 over Q2 September 2018. The result was announced after market hours yesterday, 17 October 2019.

ARSS Infrastructure Projects hit 5% upper circuit at Rs 24.05. The construction company informed during market hours today, 18 October 2019, that it has secured a work order of Rs 76.15 crore for construction of handling platforms, railway track, truck parking area, buildings and other ancillary facilities for IFFCO at MMLP Paradip, Odisha. The contract was awarded in favor of the companys joint venture named ARSS-BDPL (JV) by Container Corporation of India on 17 October 2019.

K.P.R. Mill surged 5.72% to Rs 600. The apparel manufacturer informed Sebi has allowed it to proceed with the buyback offer. On 11 July 2019, K.P.R. Mill had cancelled the buyback proposal because of the increase in the amount of buyback obligation due to the tax proposal in the Finance Bill 2019.

The Nifty Bank index was up 0.31% at 29,078.60, extending previous sessions gains.

Among the private sector banks, Yes Bank (up 7.07%), City Union Bank (up 1.91%), HDFC Bank (up 0.58%), Kotak Mahindra Bank (up 0.55%), RBL Bank (up 0.53%), Federal Bank (up 0.06%) advanced.

Among the public sector banks, IDBI Bank (up 5.18%), Indian Bank (up 5.02%), Punjab & Sind Bank (up 4.9%), Allahabad Bank (up 4.04%), United Bank of India (up 3.69%), Corporation Bank (up 3.6%), Central Bank of India (up 2.95%), Syndicate Bank (up 2.87%), Union Bank of India (up 2.21%), Punjab National Bank (up 1.69%), Bank of Baroda (up 1.57%), Andhra Bank (up 1.56%), Canara Bank (up 1.39%), Bank of India (up 1.34%), State Bank of India (up 1.24%), UCO Bank (up 0.42%) edged higher.

South Indian Bank rose 5.03% to Rs 10.45 after the banks net profit rose 20.5% to Rs 84.48 crore on a 18.8% increase in total income to Rs 2203.18 crore in Q2 September 2019 over Q2 September 2018.

Overseas, shares in Europe and Asia declined on Friday after China posted its weakest growth in nearly three decades.

China Gross domestic product (GDP) expanded 6% in third quarter ended September 2019, compared with 6.2% in the second quarter, official figures showed on Friday. The Chinese economy grew at 6.6% in 2018. However, the Industrial Production rose 5.8% year-on-year in September, after growth of 4.4% in August. Meanwhile, consumer spending, as represented by Retail Sales, rose 7.8% year-on-year in September.

On the U.S.-China trade front, White House economic adviser Larry Kudlows commented that he sees momentum to finalize the initial phase of a U.S.-China trade deal outlined last week, adding it may be signed at the APEC forum next month.

Yesterday, Britain and the European Union agreed to a draft Brexit deal. At a news conference with Prime Minister Boris Johnson, European Commission President Jean-Claude Juncker said the deal meant there would be no need for a further delay to Britains departure and negotiations on the future relationship between Britain and the EU would begin as soon as the deal was approved by the UK and European parliaments.

Meanwhile, French automobile major Renault cut its full-year revenue and profit forecast amid a broad-based slump in auto sales as Chinas poor growth stirs fear among investors.

The US stock market finished session near records high on Thursday as risk sentiments boosted up by better than expected corporate earnings reports from U.S. companies such as Netflix and Morgan Stanley and optimism from a Brexit draft agreement.

US industrial production fell by 0.4% in September after climbing by an upwardly revised 0.8% in August, the Federal Reserve released a report on Thursday.

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Mid-Session
18 Oct 2019, 2:32 PM
Nifty holds above 11,650

The Sensex and the Nifty held firm at higher levels in mid-afternoon trade. At 14:30 IST, the barometer index, the S&P BSE Sensex, was up 213.97 points or 0.55% at 39,266.03. The Nifty 50 index was up 66 points or 0.57% at 11,652.35.

The S&P BSE Mid-Cap index was up 1.69%. The S&P BSE Small-Cap index was up 1.50%. Both these indices outperformed the Sensex.

The market breadth was strong. On the BSE, 1550 shares rose and 851 shares fell and a total of 175 shares were unchanged.

The market sentiment was boosted by foreign funds turning net buyers of Indian stocks in the past few sessions. The trading activity showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 1158.63 crore yesterday, 17 October 2019, as per provisional data released by the stock exchanges

Auto stocks were on the roll. Ashok Leyland (up 5.92%), TVS Motors Company (up 3.75%), SML Isuzu (up 1.72%), Maruti Suzuki India (up 1.61%), Hero MotoCorp (up 0.94%), Mahindra and Mahindra (up 0.12%) and Tata Motors (up 0.12%) were top gainers in auto segment.

Auto components maker Sundaram-Clayton rose 3.99%. The company announced its Q2 earnings during market hours today. On a consolidated basis, the firms net profit rose 9.17% to Rs 149.77 crore on a 10.37% fall in revenue from operations to Rs 5220.75 crore in Q2 September 2019 over Q2 September 2018.

Meanwhile, the yield on 10-year benchmark federal paper rose to 6.810% at 14:23 IST compared with 6.699% in the previous trading session.

In the foreign exchange market, the partially convertible rupee edged higher and was hovering at 71.12, compared with its close of 71.16, during the previous trading session.

In the commodities market, Brent crude for December 2019 settlement was down 2 cents at $59.89 a barrel. The contract rose 0.82% to settle at $59.91 a barrel during the previous trading session.

MCX Gold futures for 5 December 2019 settlement edged 0.44% lower to Rs 38,029.

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Post-Session
18 Oct 2019, 4:00 PM
Quick Wrap: Nifty PSE Index rises 2.39%
Nifty PSE index closed up 2.39% at 3398.35 today. The index is up 10.00% over last one month. Among the constituents, Bharat Heavy Electricals Ltd gained 21.86%, National Aluminium Company Ltd jumped 8.42% and Steel Authority of India Ltd rose 7.90%. The Nifty PSE index is up 1.00% over last one year compared to the 11.56% surge in benchmark Nifty 50 index. In other indices, Nifty Realty index added 1.92% and Nifty Metal index increased 1.87% on the day. In broad markets, the Nifty 50 witnessed a rise of 0.65% to close at 11661.85 while the SENSEX added 0.63% to close at 39298.38 today.

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Post-Session
18 Oct 2019, 5:07 PM
Nifty rallies for 6th day, ends above 11,660

The market extended rally for sixth straight session on Thursday. The sentiment was boosted by foreign funds turning net buyers of Indian stocks in the past few sessions. Better-than-expected Q2 results from a few companies also supported buying.

The barometer index, the BSE Sensex, rose 246.32 points or 0.63% to 39,298.38. The Nifty 50 index rose 75.50 points or 0.65% to 11,661.85.

The market breadth was strong. On the BSE, 1608 shares rose and 922 shares fell. A total of 177 shares remain unchanged.

Buying was wide spread. The S&P BSE Mid-Cap index rose 1.78% and the S&P BSE Small-Cap index rose 1.65%.

The domestic stock market will remain closed on Monday, 21 October 2019, on account of assembly elections in Maharashtra.

In the past six trading sessions, the Sensex surged 3.74% while the Nifty advanced 3.8%.

Finance Minister Nirmala Sitharaman, while addressing Columbia Universitys School of International and Public Affairs on Tuesday, said that more reforms to boost growth are on the anvil in the current year to boost growth. The reforms will be guided by close scrutiny of growth evidence in the economy, she added.

Meanwhile, the Reserve Bank of India (RBI) will today, 18 October 2019, announce the minutes of its fourth bi-monthly monetary policy review meeting held on 4 October 2019.

In the foreign exchange market, the partially convertible rupee was flat at 71.16.

In the commodities market, Brent crude for December 2019 settlement was up 29 cents at $60.20 a barrel. The contract rose 49 cents or 0.82% to settle at $59.91 a barrel during the previous trading session.

Overseas, shares in Europe and Asia declined on Friday after China posted its weakest growth in nearly three decades.

China Gross domestic product (GDP) expanded 6% in third quarter ended September 2019, compared with 6.2% in the second quarter, official figures showed on Friday. The Chinese economy grew at 6.6% in 2018. However, the Industrial Production rose 5.8% year-on-year in September, after growth of 4.4% in August. Meanwhile, consumer spending, as represented by Retail Sales, rose 7.8% year-on-year in September.

On the US-China trade front, White House economic adviser Larry Kudlows commented that he sees momentum to finalize the initial phase of a U.S.-China trade deal outlined last week, adding it may be signed at the APEC forum next month.

UK secured a Brexit deal with EU on Thursday, three years after the vote to leave the bloc, but UK PM Boris Johnson must still win favour in the parliament to get the agreement approved.

Meanwhile, French automobile major Renault cut its full-year revenue and profit forecast amid a broad-based slump in auto sales as Chinas poor growth stirs fear among investors.

The US stock market finished session near records high on Thursday as risk sentiments boosted up by better than expected corporate earnings reports from U.S. companies such as Netflix and Morgan Stanley and optimism from a Brexit draft agreement.

US industrial production fell by 0.4% in September after climbing by an upwardly revised 0.8% in August, the Federal Reserve released a report on Thursday.

On the equity front back home, index pivotal Reliance Industries (RIL) rose 1.37% to Rs 1415.30, ahead of its Q2 results today. RIL has become the first Indian company to cross Rs 9 trillion market capitalization after its shares hit its 52-week high of Rs 1428 in intraday today.

Bharat Heavy Electricals (Bhel) soared 22.22% to Rs 54.45 on reports the government may consider bringing down its stake in Bhel to 26% from 63.17% now.

3M India fell 4.59% to Rs 21838.15 after a block deal of 2 lakh equity shares, or 1.8% stake, of the firm was struck on the NSE today, 18 October 2019.

Zee Entertainment Enterprises (ZEEL) fell 5.55% to Rs 250. The companys consolidated net profit rose 6.87% to Rs 413.23 crore on 7.4% rise in net sales to Rs 2122.01 crore in Q2 September 2019 over Q2 September 2018. The result was announced after market hours yesterday, 17 October 2019.

ZEEL said it had a fixed deposit with a bank of Rs 200 crore. During the quarter ended 30 September 2019, the bank has prematurely, unilaterally adjusted the amount of the fixed deposit, which was maturing on 10 September 2019, against the dues of certain related parties. Subsequently, these related parties have reimbursed the amounts to the company, aggregating Rs 133.30 crore before 30 September 2019 (recorded as other financial liabilities) and Rs 66.70 crore after the quarter end. The company is in the process of investigating, seeking legal advice on the appropriate action to be taken as well as compliance with statutory and legal requirements.

In fiscal 2019, it had given an inter-corporate deposit (ICD) of Rs 150 crore. On seeing delays in recovering the amount, it assigned the ICD to certain related parties to secure payment of Rs 170 crore (including accrued interest). Since there are further delays in receiving payment from these parties during the September quarter, the said amount was listed as exceptional item in its books, ZEEL added.

Larsen & Toubro (L&T) rose 1.67% to Rs 1448.05. L&T agreed to purchase the entire 2.551% stake held by Old Lane Mauritius III (Old Lane) in L&T Infrastructure Development Projects (L&T IDPL), a subsidiary company, for Rs 47.997 crore on 17 October 2019.

Larsen & Toubro Infotech added 7.55% to Rs 1612 after consolidated net profit gained 1.20% to Rs 360.10 crore on 3.45% rise in net sales to Rs 2,570.70 crore in Q2 September 2019 compared with Q1 June 2019. The result was announced after trading hours yesterday, 17 October 2019.

TVS Motor Company rose 4.45% to Rs 456.60, extending yesterdays 6.26% gain. The firms consolidated net profit rose 15.09% to Rs 256.88 crore on a 9.17% decline in total income to Rs 4,966.88 crore in Q2 September 2019 compared with Q2 September 2018. The result was announced during market hours yesterday, 17 October 2019.

ARSS Infrastructure Projects hit an upper circuit limit of 5% at Rs 24.05. The construction company informed during market hours today, 18 October 2019, that it has secured a work order of Rs 76.15 crore for construction of handling platforms, railway track, truck parking area, buildings and other ancillary facilities for IFFCO at MMLP Paradip, Odisha. The contract was awarded in favor of the companys joint venture named ARSS-BDPL (JV) by Container Corporation of India on 17 October 2019.

K.P.R. Mill surged 6.62% to Rs 605.15. The apparel manufacturer informed that Sebi has allowed it to proceed with the buyback offer. On 11 July 2019, K.P.R. Mill had cancelled the buyback proposal because of the increase in the amount of buyback obligation due to the tax proposal in the Finance Bill 2019.

Indoco Remedies rose 4.85% to Rs 151.35. The drug maker informed during market hours today, 18 October 2019 that its clinical research organisation, AnaCipher, located at Hyderabad successfully cleared the United States Food and Drug Administration (USFDA) inspection with zero 483s. The inspection was held from 14 October to 18 October, 2019.

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