Indian market regain losses; Pharma stock cheers on Trump win

Asian markets finished broadly lower today with shares in Japan leading the region. The Nikkei 225 is down 5.36% while Hong Kong's Hang Seng is off 2.16% and China's Shanghai Composite is lower by 0.62%.

Wednesday trading session will be memorable. It involved Donald Trump win as 45th US president and the goodbye of high-denomination notes (Rs 500 and Rs 1000) in India. Sensex, Nifty gained their most of early losses in the afternoon tradings. BSE closed at 27,252.53 down by 338.61 points or 1.23%, NSE finished at 8432 below 111.55 or 1.31%. 

Escorts' stocks were trading at Rs 333.10 down by Rs 14.25 points or 4.10% on BSE, trading at Rs 333.10. The company on Wednesday said, that it plans to introduce new farmatic tractors in Italy, Mexico.

Apollo Tyres regained most of it's shares after it signed agreement with Andhra Pradesh state for land acquisition. Shares were down by 1.29% on BSE, trading at Rs 195.15 at 3.18 pm. This was still better it opened only at Rs 189 lower from its previous close of Rs 197.70.

Mintues ago for Indian market closing, the Sensex and Nifty recovered their early trading losses. Presently Sensex was trading at 27,275.87 down by 315.27 or 1.14%, while Nifty at 8426.05 below 117.50 or 1.38%. This slight gain was led by banking and pharma stocks who gained after Trump won the US election. In early trading session, BSE and NSE were down by 1570 points or 505 points respectively. 

Punjab Ntaional Bank overcomed its early trading losses after Sunidhi Securities declared its ratings to 'Hold' on the bank. Shares of PNB was trading at Rs 141.80 up by 0.85%.  

With the win of Donald Trump, major pharma industries shrugged off uncertainties over drug prices which was discussed during the US election. Dr Reddy was top gainer by rising over 4.60% to Rs 3258. Sun Pharma shares also surged by 3.58% at Rs 658, followed by Lupin at Rs 1556.30 up by 3.11% and Cadila Healthcare at Rs 383.50 above 2.24%.  Other gainers were - SPARC at Rs 322.80(4.25%), Suven Life Science at Rs 181.75 (3.03%) and Marksans at Rs 48.40 (3.31%).

On Bloomberg many key people brought in their views in regards to the Trump win.

Francis Wilkinson - a former Democratic consultant said, "Demography Slays the Democrats Here and Now." 

While Gadfly said," Gold Bulls Are Betting on Trump's Favorite Metal."

Another statment was fromJonathan Bernstein -  president of Bernstein Crisis Management said, " Fears and Hopes for a President Trump."

US markets shrink after Donald Trump takesover as US president. 

After it was announced that Donald Trump wins the US election over Hillary Clinton, Sensex slipped over 560 points or 2.03% at 27,036.66, while that of Nifty at 8357.80 below 185 points or 2.17%. 

Donald Trump becomes the new president of United States. He surpasses 270 electoral votes.

The shares of Great Eastern Shipping Company shredded over Rs 11 or 2.97% on NSE, trading at Rs 351.20 despite its announcement of bagging contracts to buy two Aframax Crude carriers. 

Clinton takes lead in US election poll results

Problems being faced by patients after PM Mpdi bans Rs 500 and Rs 1000 notes.

Markets perform better when Hillary Clinton leads in the US elections

Shares of Dredging Corp slumped over Rs 21 or 5.33% on BSE, trading at Rs 381.60 after the company extended the dates of its offer-for-sales for employees. The company said OFS for staff will be extended upto November 11.

Crude oil opens with drop of 1%

Dow Futures open with drop of 500 points

Credit Suisse on Wednesday said, theIndia's non-banking financial companies will be impacted most on banknote scrap. All NBFC stocks have declined on stock exchanges - Bajaj Finance was at Rs 877.95 (11.06%), LT Financie Holdings at Rs 94 (9.40%), Indiabulls Housing Finance at Rs 637 (19.05%), Housing Development Finance Corp (HDFC) at Rs 1327 (4.45%), Mahindra & Mahindra Financial Services at Rs 313.70 (9.31%), Shriram City Union Finance at Rs 2215 (8.15%) and Reliance Capital at Rs 440.95 (12.96%).

Tata Communications' shares declined by Rs 29 or 4.77% on BSE, trading at Rs 582. The company on Wednesday said, it has joined hands with Constantin Median AG for creating a media hub in germany. 

Looks like Modi's execution over high-notes have not affected the government bonds. The government bonds rally, a 10-year govt bond due September 2026 slides 9bps to 6.71%. 

Following the elimination of Rs 500 and Rs 1000 notes Shriram Transport Finance tumlbed by Rs 113.35 or 10.75% on BSE trading at Rs 944.50.Umesh Revankar CEO of  Shriram Transport Finance on Bloomberg said, "The company now  expects delay in loan repayments from customers. Usually the company collects its most of the repayments in cash, which will now face challenges till the time new currency are brought in circulation. 

Realty index was among the top losers on Indian markets today. The S&P BSE Realty index sinked by 150 points or 10.14%, trading at 1326.10. Among the stocks - Housing Development Infrastructure Limited (HDIL) declined the most by nearly 15.45% at Rs 62.95, followed by DLF at Rs 122.65 (14.62%),  Indiabulls Real Estate at Rs 69.15 (14.10%), Unitech at Rs 5.05 (11.25%) and Prestige Estate Projects at Rs 163 (10.93%).

All banking stocks were crushed down by the investors after PM Narendra Modi announced yesterday to demonitize the Rs 500 and Rs 1000 notes in order to tackle blackmoney. He had also stated that banks will be closed on Wednesday along with the ATM machines.

Bank Nifty slipped by over 678 points or 3.48% on Nse,  trading at 18,821.90. Major banks took the beating on stock exchanges. ICICI Bank sinked by Rs 17 or 5.97% trading at 266.30, while HDFC Bank was at Rs 1234.55 down by Rs 20 or 1.57%, Yes Bank was below Rs 67 or 5.48% at Rs 1159.20, Kotak Mahindra Bank was at Rs 33 or 4.04% at Rs 779, Axis Bank at Rs 474.95 below Rs 16 or 3.24% and IndusInd Bank was at Rs 1179.45 down by Rs 32 or 2.61%.

Among the public sector undertakings - State Bank of India tumbled by Rs 6 or 2.45% at Rs 246.45, Bank of Baroda at Rs 142.95 down by Rs 6 or 4.03% and Punjab National Bank was trading at Rs 133.60 off by Rs 7 or 4.98%. Other banks - Federal Bank and Canara Bank were also negative in the range of 6% - 7%. 

Top losers on BSE were  - Adani Ports at Rs 270 (7.18%), Bharti Airtel at Rs 284 (6.89%), Mahindra & Mahindra at Rs 1301.40 (6.01%), Sun Pharma at Rs 599.50 (5.63%), Bajaj Auto at Rs 2707.20 (5.53%) and Cipla at Rs 508.75 (5.13%).

Indian rupee was trading at 66.866 against US dollars. The domestic currency was above 0.666 points or 1% from its previous closing of 66.205 against the dollar. 

Asian markets tumbled as investors dampened their shares over US elections. The Japan's Niikei was trading at 16,339.33 down by 832.05 points or 4.85%, while Hong Kong's Hang Seng saw 714.48 points or 3.13% decline at 22,192.07. And that of China's Shanghai Index was below 41.66 points or 1.32% trading at 3106.23.

Moments before US elections chooses its new president, Indian markets were bleeding on fears Donald Trump might win. In a report it was known that Trump defeats Hillary Clinton in Florida. Sensex was trading at 26,445 down by 1145.70 points or 4.15%, while Nifty was at 8054.50 off 489.05  points or 5.72%. No stock was trading positive. There were no advances on BSE and NSE.