Sensex, Nifty Extend Rally; Media Shares Advance

Indian equity benchmarks extended gains for the third day. The S&P BSE Sensex Index rose as much as 0.46 percent to 35,675 and the NSE Nifty 50 Index rose as much as 0.36 percent to 10,724.50.

The market breadth was tilted in favour of buyers. Eight out of 11 sectoral gauges compiled by National Stock Exchange advanced, led by the NSE Nifty Media Index’s 0.97 percent gain. On the flipside, NSE Nifty Realty Index was the top sectoral loser, down 0.44 percent.

Yes Bank Worst Performer On Sensex, Nifty
Shares of Yes Bank fell as much as 4.9 percent to Rs 173.65. The stock was the worst performer on Sensex and Nifty.

Sparring promoters of Yes Bank are inching towards a truce, but there was no clarity late on Tuesday over the exact status of the talks with one camp claiming it’s at an advanced stage and the other being not on the same page, PTI reported.

The Rana Kapoor camp said settlement talks are at an “advanced stage” with the draft consent terms under discussion which speaks of recognising both the groups as “equals”, while the Madhu Kapur family maintaining that the “discussions are still on”, according to PTI report.

Vadilal Enterprises Locked In Lower Circuit After Posting Loss In Q2
Shares of Vadilal Enterprises were locked in the lower circuit of 5 percent at Rs 855 after the company reported a loss in September quarter compared to the year-ago period’s profit.

Key earnings highlights (Q2, YoY)

Revenues up 14.2 percent at Rs 126 crore.
Net loss at Rs 1 crore versus net profit at Rs 1.3 crore.

DHFL Falls The Most In Over Three Weeks
Shares of Dewan Housing Finance Corporation Ltd. (DHFL) fell as much as 9.3 percent, the most since Nov. 05, to Rs 201.40.

The stock has declined 62.7 percent so far this year compared to a 6.1 percent advance in the Sensex.

ONGC Falls For Third Day, Trades Near 29-Month Low
Shares of ONGC declined for the third straight trading session and fell as much as 1.6 percent to Rs 143.70, its lowest since June 2016.

The stock declined 21 percent in the past 12 months compared to a 5.3 percent in the Sensex.

Gruh Finance Gains After A Block Deal
Shares of Gruh Finance rose as much as 2.3 percent to Rs 284.45.

About 12.2 lakh shares changed hands in a block deal on National Stock Exchange, according to Bloomberg data. Buyers and sellers were not known immediately.

The stock fell 4.4 percent in the last five days and advanced 2.2 percent in the past 30 days.