Markets close: Sensex, Nifty nudge down on F&O expiry; Stocks of Reliance Industries, Adani slid

Negating the nearing F&O (Future and Option) expiry in the morning session, the Indian indices finally succumb to the F&O sell-off pressure. The BSE Sensex nudged down 1 point to 35,591 while the 50-stock Nifty index came down by a whisker 0.4 point to 10,651.8 mark, a level that will bring smile on the faces of bear as Nifty below the levels of 10,680 is considered bear run by majority of the experts.

3: 28 PM Metal, IT, banking and industry sector were among the top gainers. Banking major Axis Bank scrip surged by near 4.55 per cent, ICICI Bank stocks went northward by around 5.2 per cent while State Bank of India shares went up by around 2.39 per cent.

3: 20 PM The BSE Sensex major Reliance Industries shares went down by around 1.5 per cent. Other energy stocks too saw huge sell-off today. ONGC shares went down by near 1.1 per cent, IOCL stocks went off by near 1.9 per cent, shares of HPCL too went southward by near 1.95 per cent while Oil India Limited scrip slid by 1.3 per cent.

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3:12 PM After showing some recovery after losing in morning session, Adani shares once again pluge in noon session. Adani Ports and Special Economic Zone Limited shares went off by around 2.5 per cent while Adani Transmission shares went down by 0.35 per cent.

2:37 PM Results: Sensex turns green to 35,650.51 up by 56 points (0.16%), while Nifty recovers to 10,678, up by 26 points (0.24%). Bajaj Auto, the two wheeler giant of the country reports a 15.7 percent growth in its Q3 net profit at Rs 1101.9 crore against profit of Rs 952.44 crore in the same quarter last fiscal. The revenue of the company remains at Rs 7409.4 crore. While the largest oil manufacturer of the country, Indian Oil Corporation (IOC) reports a 78 per cent fall in its net profit at Rs 716 crore as compared to Rs 3,247 crore in the last quarter. 

1:45 PM Results: Jubilant FoodWorks, foodchain of Dominos releases its Q3 results for the year. The net profit improves by 46.2% at Rs 96.5 crore as compared to Rs 66 crore (YoY), While revenue increased 16.8% at Rs 929.1 crore against Rs 795.2 crore (YoY).

1:30 PM The banking shares have experienced a huge trade volume today as Axis Bank, Yes Bank and ICICI Bank remained the most traded stocks on the BSE today. The total traded quantity was over one million for each of the stocks. 

12:30 PM Sensex turns 0.01 per cent down at 35,588.12 and the Nifty corrected 0.16 per cent or 17.30 points to 10,634. The FMCG sector is the most losing sector in the trading session so far. 

10:13 AM Among banking stocks Axis Bank shares jump by over 4 per cent ganing around Rs 27.8 per share from its Tuesday close. Shares of IndusInd Bank and State Bank of India rose by near half a per cent, Shares of Yes Bank too went up by near 2.2 per cent to Rs 207 per stock levels.

10:07 AM The ICICI Bank stocks skyrocket by over 4 per cent to Rs 361.75 levels. Today, ICICI Bank results are expected and this rise can be seen as expected positive results of the banking major.

10:05 AM Adani stocks pare the early losses. Shares of Adani Power rose by over 1.8 pe cent to Rs 44 levels while Adani Transmission shares recovered from the early lossed and rose by near a quarter per cent to Rs 215.3 per stock levels.

9:55 AM After making a high of 35,850 mark, the BSE Sensex saw some pressure of the F&O expiry sell-off and finally came down to 35,695 levels, up by around 103 points from its Tuesday close. The Nifty index is up by around 25 points to 10,676 levels. 

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9:51 AM Adani stocks have again gone in red zone. Shares of Adani Ports and Special Economic Zone Limited went off by around 0.9 per cent to Rs 344.85 per share levels. Shares of Adani Transmission too went down by around 0.4 per cent to Rs 213.6 per stock levels.

9:46 AM The Reliance Industries share jump by over Rs 8 to Rs 1219 per shares level. Among other energy majors shares of petronet LNG went up by more than 1.8 per cent, Oil India was up by around 0.6 per cent, Gulf Oil Lubricants stock went up by around 2.5 per cent. 

9:36 AM Shares of DCM Shriram, Axis Bank, HCL Tech and Graphite India were the top gainers while Godrej Consumer Product, IL&FS Transportation, Dewan Housing and L&T Tech Serevices were among the top losing stocks. DCM Shriram share went jup by 5.9 per cent, Axis Bank went northward by around 4.6 per cent and Graphite India shares went northward by more than 5 per cent. Among top losing stocks Godrej Consumer Product slide by near 5.8 per cent, IL&FS Transportation shares went off by around 5 per cent , Dewan Housing shares crashed by near 4.5 per ent while HCL Tech ervices went off by around 2.6 per cent. 

9:30 AM Shares of auto, energy, power, oil and gas sector are the top gaines in early session trade. Reliance Industries stock continued its rally and gained near 0.8 per cent in early intraday trade. Petronet LNG stock gained over 2 pere cent. But, Adani Ports and Special Economic Zone went off by near 0.88 per cent. Power Grid shares to went down by around 0.9 per cent. 

9:20 AM Negating the nearing F&O (Future and Option) expiry, the Indian indices surged over 0.5 per cent on Wednesday on signs of ease in Sino-US trade stand-off. The BSE Sensex surged 166 points to 35,760 mark in early session while the 50-scrip Nifty went northward by near 40 points to 10,692. Experts are expecting some sort of recovery in the Indian bources on Apple Inc's earnings and signs of easing in Sino-US tension.

Speaking on the market outlook Mehul Kothari, Senior Technical Analyst at IndiaNivesh told Zee Business online, "Post the breakdown from swing low of 10690 Nifty maintained its descent and closed well below the rising trend line. However, the candlestick pattern resembles a ‘Doji’ formation which designates indecisiveness prevailing at current levels. Hence, there is a possibility of some breather from the fall in the coming session. On the contrary, the bearish ‘Double top’ pattern on the daily chart is still intact which indicates one should avoid any aggressive long bets till the time Nifty is trading below 11000 mark."

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On the downside, the doors are now open for previous supports like 10530 – 10330 at least. In short, tables have turned and we have entered a ‘Sell on Rise’ market which will be negated above 11000 mark. On the upside, 10690 (high of Doji) would act as an intermediate resistance in the coming session. "We expect the volatility to pick up due to F&O expiry and interim budget and hence traders are advised to avoid over leveraged positions," said Mehul Kothari of IndiaNivesh.

The US stock futures and Asian indices eked out modest gains today as investors seized on Apple's earnings and comments from its chief that Sino-US trade tensions were easing, sending the iPhone maker's shares soaring in after-hours trade.
 
Sterling smarted from a 0.7 per cent fall after British lawmakers rejected most amendments that sought to avoid Britain leaving the European Union without a deal, reviving worries of a chaotic withdrawal from the European Union.

S&P 500 e-mini futures tacked on 0.1 per cent in early trade while MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.05 per cent. Japan's Nikkei rose 0.2 per cent before erasing gains.

On Tuesday Wall Street shares dipped, with S&P 500 losing 0.15 per cent as technology-related shares were dogged by a string of weak earning results while a rebound in 3M and other industrials helped the Dow Jones Industrial Average squeeze out small gains.