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Stock Market Live: Sensex off day’s high, Nifty around 15,100; banks, autos drag.

Fuel Prices At Record High; BPCL top Nifty gainer after reporting better-than-expected earnings for Q3

Stock Market Live: Indian indices were off day’s high on Tuesday dragged by losses in banks, financials and auto stocks. The midcap and smallcap indices were also trading in the red. However, OMCs gains on the back of rise in petrol and diesel prices.

Opening Bell: Sensex, Nifty open at record highs; Infosys, RIL top contributors

Indian indices opened higher for the seventh straight session on Tuesday following positive trends in Asian peers. Gains in the domestic indices were led by heavyweights Infosys, RIL, HDFC Bank, ICICI Bank and HDFC. The Sensex rose as much as 226 points to its new high of 51,575 while the Nifty rose 72 points to its record high of 15,188. Broader markets, meanwhile, were mixed with the midcap index completely flat and smallcap index up 0.3 percent. Among sectors, Nifty IT rose the most, up 1 percent and Nifty Metal added 0.5 percent. However, Nifty Bank lost 0.2 percent and Nifty Auto was down 0.3 percent.

RIL, Future Group shares rally after Delhi HC lifts ‘status quo’ order on deal

Shares of Reliance Industries and Kishore Biyani-led Future Group companies rallied in early morning trade on Tuesday after the Delhi High Court stayed the single judge bench order directing a ‘status quo’ on Future Retail-RIL deal till the next hearing. The stock price of Reliance Industries rose as much as 1.9 percent, while Future Group stocks rallied around 5-10 percent. The division bench of the Delhi High Court said that Amazon had no business seeking a status quo because they are not interested in this deal. It also observed that the statutory authorities such as the Securities and Exchanges Board of India (Sebi) and Competition Committee of India (CCI) had been asked to maintain the status quo when they themselves were not even present before the Delhi High Court.

Bitcoin prices soar above $47,500 after Tesla investment

Bitcoin’s price jumped to an all-time high on Monday after Tesla said it has invested around $1.5 billion in the digital coin. The news sent Bitcoin soaring as high as $47,513. The electric carmaker revealed that it expected accepting payment for its cars and other products with Bitcoins in the near future. Tesla said in a filing the decision was part of its broad investment policy as a company and was aimed at diversifying and maximizing its returns on cash. It said it had invested an aggregate $1.5 billion in bitcoin under the changed policy and could “acquire and hold digital assets from time to time or long-term”.

Muthoot Finance Q3 earnings: Here’s what to expect

Muthoot Finance will be reporting its Q3 numbers on Tuesday. It is expected to be a stable quarter for Muthoot Finance. The disbursals are expected to pick up in Q3 versus Q2 levels. They will see higher repayment is what analyst are saying so expect a muted growth asset under management (AUM) growth of about 1 percent quarter-on-quarter (QoQ). However, the higher repayment will also mean that net interest margin will improve sequentially. Last quarter the net interest margin was at 14.3 percent. Asset quality largely expected to remain stable.

Tata Steel Q3 earnings: Here’s what to expect

Tata Steel will be reporting its Q3 numbers on Tuesday and it is expected to be a blockbuster. The street has been coming to terms that these numbers are going to be absolutely spectacular. In terms of consolidated numbers, topline growth of around 12 percent, operating profit at Rs 8,600 crore in a single quarter that would mean margins of around 22 percent and the profit number is very volatile but the company is working with the big profit number to the tune of around half a billion dollars in comparison to a loss.  Tata Motors JLR UK Sales slip 42.8% to 4,542 units from 7,938 units. Jaguar UK Sales down 60.7% to 914 units & Land Rover down 35.4% to 3,628 units (YoY)

First up, here is quick catchup of what happened in the markets on Monday

The Indian equity market ended at a record high level on Monday led by strong gains in auto and metal stocks amid positive global cues. The Sensex ended 617.14 points, or 1.22 percent, higher at 51,348.77, while the Nifty gained 191.55 points, or 1.28 percent to close at 15,115.80. Broader markets, Nifty Smallcap100 and Nifty Midcap100 supported the rally by gaining more than 1.5 percent each. Barring Nifty PSU Bank and Nifty FMCG, all other sectoral indices ended in the green with Nifty Auto and Nifty Metal rising over 3 percent each. On the Nifty, M&M, Tata Motors, Hindalco, Shree Cement and JSW Steel were the top index gainers, while Britannia Industries, Hindustan Unilever, Kotak Mahindra Bank, Divi’s Laboratories and Bajaj Finance were the top losers.

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