Asian Paints, Yes Bank, Dr Reddy’s and HPCL are the top gainers, while Infosys and TCS lost the most.

Nov 21, 10:23 AM (IST)
Market Update:

Benchmark indices extended losses with the Nifty breaking 10,600 levels, which is technically crucial level for bulls.

Technology stocks hit the most with the Nifty IT index falling 3 percent. IT majors Infosys, TCS, Mindtree and Tech Mahindra slipped over 3 percent.

The 30-share BSE Sensex dropped 251.26 points to 35,223.25 and the 50-share NSE Nifty declined 63.70 points to 10,592.50.

Nov 21, 10:17 AM (IST)
Nomura Upgrades CONCOR, Raises Target

Japanese brokerage firm Nomura has upgraded its rating to buy from neutral for Container Corporation of India and also increased target price to Rs 800 from Rs 711 earlier.

It feels company’s margin is stabilising and volume outlook is improving.

The research house raised EPS estimates for FY19 by 2 percent on better Q2 EBITDA margin, but lower FY20 EPS estimates by 2 percent.

Loss of share to roadways, delay in commissioning of DFC (Dedicated Freight Corridor) are key downside risks, Nomura feels

Nov 21, 10:13 AM (IST)
Citi Cuts Sun TV Network’s Target Price

Citi maintained buy call on Sun TV Network but slashed target price to Rs 800 from Rs 830 earlier.

The global research house raised its FY19 estimates by 2 percent but lowered FY20-21 estimates by 4 percent given various investments.

Sun’s business is steady as earnings are re-based, up in FY19 due to domestic subscription revenue and IPL.

Nov 21, 10:06 AM (IST)
Oil Prices Claw Back After 6% Plunge

Oil prices recovered some of the previous day’s over 6 percent plunge, lifted by a report of an unexpected decline in US commercial crude inventories as well as record Indian crude imports.

But investors remained on edge, with the International Energy Agency (IEA) warning of unprecedented uncertainty in oil markets due to a difficult economic environment and political risk.

International Brent crude oil futures were at $63.38 per barrel, up 1.36 percent from their last close. US West Texas Intermediate (WTI) crude futures, were up 1.3 percent, at $54.13 a barrel. Source: Reuters.

source: moneycontrol.com