Continuing their bull run, equity benchmarks ended at fresh closing high on Wednesday, led by buying in financial, auto and metal counters. Optimism surrounding the signing of the first phase of a US-China trade deal also boosted investor sentiment.
The S&P BSE Sensexclimbed 199 points or 0.49 per cent to end at 41,021, - its fresh closing peak. It was the first time that the index settled above the crucial 41,000-mark. Sensex hit an all-time high of 41,120.28 in the intra-day trade on Tuesday.
HDFC, Reliance Industries (RIL), SBI, HUL, and Maruti contributed the most to the index's gains today. Out of 30 constituents, 24 ended in the green.
On the NSE, the frontline index Nifty closed at a record high of 12,100.70 with 37 constituents advancing and 13 declining. Nifty Bank, too, ended at a fresh closing high of 31,875.95 levels.
In the broader market, midcaps outperformed the benchmarks while small-caps were subdued. The Nifty Midcap 100 index added 0.76 per cent to end at 17,043 levels while The Nifty SmallCap ended flat at 5,723, up just 0.04 per cent.
Sectorally, barring realty and media stocks, all the indices ended in the green. PSU bank stocks gained the most with the Nifty PSU Bank index rising nearly 2 per cent to 2,625 levels. Nifty Auto index added 1.27 per cent to close at 8,203 levels.
BUZZING STOCKS
Shares of YES Bank climbed up to 9 per cent to Rs 68.85 during the session after the private sector lender announced that its board will meet on Friday to consider raising of funds. It ended at Rs 68.25 apiece, up 7.65 per cent. YES Bank also ended as the top gainer on the Sensex.
Shares of automobiles along with auto ancillaries companies gained on reports that the Cabinet may consider approving scrappage policy in today's meet. Tata Motors, Mahindra & Mahindra, Bharat Forge and Ashok Leyland from the Nifty Auto index climbed 3 per cent each on the National Stock Exchange (NSE). Maruti Suzuki India, Eicher Motors, Hero MotoCorp, TVS Motor Company and Bajaj Auto were all up in the range of 1-2 per cent each.
SBI regained 3 trillion market capitalisation. The stock ended at Rs 343.6, up nearly 2.50 per cent.
GLOBAL MARKETS
European shares touched a four-year high in early trading on Wednesday, as comments from US President Donald Trump sparked hopes of an imminent resolution to the drawn-out trade war with China. Trump said on Tuesday that Washington was in the “final throes” of work on an initial trade agreement, adding to optimism from earlier in the day when Beijing said top negotiators from both countries had reached a consensus on “resolving relevant problems”.
In Asian, however, China shares fell as weak industrial profit data highlighted growing strains on the economy. At the close, the Shanghai Composite index fell 0.1 per cent to 2,903.19 and the blue-chip CSI300 index was down 0.4 per cent, while most other Asian markets gained on hopes of a deal.
In commodities, oil prices slipped after an industry report showed a surprise build-up in US crude inventories, but optimism surrounding the signing of the first phase of a US-China trade deal prevented a bigger slide in prices.
(With inputs from Reuters)
CATCH ALL THE LIVE UPDATES
Auto Refresh
03:41 PM
PSU banks gained ground in trade today
03:40 PM
YES Bank, SBI among top Sensex gainers
03:39 PM
Index watch
03:36 PM
CLOSING BELL
The S&P BSE Sensex gains 199 points or 0.49 per cent to end at 41,021 while NSE's Nifty50 index ended at 12,101, up 63 points or 0.52 per cent.
03:15 PM
HDFC nears record high of Rs 2,357 touched on July 18, 2019.
- The stock rose 1% to Rs 2,353 in the intra-day trade on the BSE.
03:12 PM
SBI regains Rs 3 trillion market-cap, stock up 2%
03:00 PM
HCL Technologies gains 2% after fixing record date for bonus issue
Shares of HCL Technologies climbed 2 per cent at Rs 1,135 on the BSE on Wednesday after the IT company fixed December 7 as the record date for the 1:1 bonus share. The stock will turn ex-bonus on December 5, 2019. The board of directors of HCL Tech at their meeting held on October 23, had approved and recommended issue of one bonus share for every one equity share held by the equity shareholders of the Company. READ MORE
HCl Tech Q2 net income rises 4.4% to Rs 2,651 crore, EBIT up 17.9%
02:53 PM
IPO ALERT | Ujjivan Small Finance Bank's IPO to open on Dec 2
02:47 PM
NEWS ALERT | SBI Cards files for IPO; to issue fresh shares worth Rs 500 cr: CNBC TV18
-- To issue 13.05 cr shares via offer-For-Sale
02:40 PM
BUZZING STOCKS | Sudden spike in Graphite India
02:39 PM
News Impact | Godfrey Phillips sees sharp surge as Lok Sabha clears Bill banning production, import and sale of electronic cigarettes
-- Stock zooms 8%, hits 52-week high of Rs 1,354/sh
02:35 PM
NEWS ALERT | Bill to ban production, import, and sale of e-cigarettes passed by Lok Sabha: CNBC TV18
02:34 PM
Market check
02:29 PM
BSE Oil & Gas index is trading 0.83% higher
02:16 PM
Global Markets check
Asian shares ticked higher on Wednesday as more upbeat signals from Sino-US trade talks fanned hopes of an imminent end to tariff hostilities, which helped offset concerns about a slowing US economy.
US President Donald Trump said on Tuesday that the United States and China are close to agreement on the first phase of a trade deal after top negotiators from the two countries spoke by telephone and agreed to keep working on remaining issues.
Japan's Nikkei settled 0.28 per cent higher, while South Korea's Kospi added 0.31 per cent at close. China's Shanghai Composite index, however, slipped 0.13 per cent.
European shares hit a four-year high on Wednesday. The pan-European STOXX 600 index was up 0.3% at 1:35 PM, led by trade-sensitive miners
(Reuters)
02:04 PM
Stocks that hit 52-week low on BSE500 today
COMPANY PRICE(RS) 52 WK LOW CHG(RS) CHG(%)
ALLAHABAD BANK 23.30 23.15 0.00 0.00
C P C L 127.90 126.25 -0.65 -0.51
JAIN IRRIGATION 10.45 10.45 -0.55 -5.00
MPHASIS 830.45 828.15 -10.65 -1.27
» More on 52 Week Low
02:04 PM
Ashok Leyland bags order for 1,750 buses from Tamil Nadu State Transport
Ashok Leyland, flagship of the Hinduja Group, has bagged an order from Tamil Nadu STU (Tamil Nadu State Transport Undertakings) for 1750 buses.
Anuj Kathuria, COO, Ashok Leyland, said, "We are very happy to receive the confirmation of this order from TN STU. Our ability to bring value, combined with our superior technology and innovation will help us maintain our leadership position in buses in lndia."
Sanjay Saraswat, President - MHCV, Ashok Leyland, said. "With this order, our orderbook for State Transport Undertakings has enhanced significantly. This is a testament to the reliability, durability and robustness of our buses. The cost of ownership and the product experience which we can deliver is the best in the industry." READ MORE
01:45 PM
Metal stocks trade higher
01:36 PM
Sensex inches higher
01:29 PM
BSE Capital Goods index hits over 2-month low; L&T down 3%
Shares of capital goods companies were under pressure on Wednesday with the S&P BSE Capital Goods index hitting an over two-month low on concerns of weak outlook due to declining order visibility and execution stress. At 01:00 pm, the S&P BSE Capital Goods index, the largest loser among sectoral indices, was down 1.8 per cent, as compared to a 0.24 per cent rise in the benchmark S&P BSE Sensex. READ MORE
Illustration: Binay Sinha
01:22 PM
NEWS ALERT | Govt to meet bankers tomorrow to select advisers for BPCL's stake sale: Bloomberg
01:21 PM
Karvy indulged in activities which were never allowed, says Sebi chief
In the aftermath of Karvy Stock Broking episode, capital market watchdog Sebi on Wednesday said the brokerage was indulging in activities which were "never allowed". The comments from the regulator's chairman Ajay Tyagi come days after Securities and Exchange Board of India (Sebi) banned Karvy, with immediate effect, for selling client stocks pledged with it through associated entities. READ MORE
Ajay Tyagi, Sebi Chief. Photo: Kamlesh Pednekar
01:18 PM
NEWS ALERT | Promoter holding will fall from 100% to 80-85% post IPO: Ujjivan Small Fin Bank
-- Promoter holding has to fall below 40%, will talk to RBI about it
-- Have been in discussion with RBI regarding Reverse Merger in 5 yrs
-- Will apply for Universal Bank licence in 6 yrs
(As reported by CNBC TV18)
01:10 PM
NEWS ALERT | Air India will have to be shut if not privatised: Aviation Min in Parliament, reports CNBC TV18
01:05 PM
NEWS ALERT | Alternative mechanism on Air India has taken some decisions: Aviation Min in Parliament
-- Issue of inviting bids to arise only after process completion
(As reported by CNBC TV18)
01:04 PM
NEWS ALERT | Aditya Birla Sun Life MF receives repayment worth Rs 840 cr on sale of shareholding of ZEEL: sources to CNBC TV18
-- Amount comprises the principal amount and interest accrued
12:58 PM
BUZZING STOCK:: Whirlpool of India up 5%
12:49 PM
SpiceJet trades lower after HSBC reduces target price
-- Says, subdued yield and cost pressure risk H2FY20 profitability
-- Cuts FY20 profit estimate by 27%
-- TP reduced from Rs 130 to Rs 115
12:38 PM
Slow growth, infra spending in India to keep states' deficit high: Moody's
Indian sates, which do not generate sufficient own-source revenue for their spending needs and remain dependent on central government grants, have recorded larger deficits in recent years. The implementation of the goods and services tax (GST) further reduced states’ share of own-source revenues, the rating agency said in a statement.
Moody’s on Wednesday released report “Regional & Local Governments - India: Indian states face challenges in reducing deficits, constraining government fiscal consolidation”. READ MORE
12:30 PM
Thomas Cook dips over 3%
The S&P BSE Sensexclimbed 199 points or 0.49 per cent to end at 41,021, - its fresh closing peak. It was the first time that the index settled above the crucial 41,000-mark. Sensex hit an all-time high of 41,120.28 in the intra-day trade on Tuesday.
HDFC, Reliance Industries (RIL), SBI, HUL, and Maruti contributed the most to the index's gains today. Out of 30 constituents, 24 ended in the green.
On the NSE, the frontline index Nifty closed at a record high of 12,100.70 with 37 constituents advancing and 13 declining. Nifty Bank, too, ended at a fresh closing high of 31,875.95 levels.
In the broader market, midcaps outperformed the benchmarks while small-caps were subdued. The Nifty Midcap 100 index added 0.76 per cent to end at 17,043 levels while The Nifty SmallCap ended flat at 5,723, up just 0.04 per cent.
Sectorally, barring realty and media stocks, all the indices ended in the green. PSU bank stocks gained the most with the Nifty PSU Bank index rising nearly 2 per cent to 2,625 levels. Nifty Auto index added 1.27 per cent to close at 8,203 levels.
BUZZING STOCKS
Shares of YES Bank climbed up to 9 per cent to Rs 68.85 during the session after the private sector lender announced that its board will meet on Friday to consider raising of funds. It ended at Rs 68.25 apiece, up 7.65 per cent. YES Bank also ended as the top gainer on the Sensex.
Shares of automobiles along with auto ancillaries companies gained on reports that the Cabinet may consider approving scrappage policy in today's meet. Tata Motors, Mahindra & Mahindra, Bharat Forge and Ashok Leyland from the Nifty Auto index climbed 3 per cent each on the National Stock Exchange (NSE). Maruti Suzuki India, Eicher Motors, Hero MotoCorp, TVS Motor Company and Bajaj Auto were all up in the range of 1-2 per cent each.
SBI regained 3 trillion market capitalisation. The stock ended at Rs 343.6, up nearly 2.50 per cent.
GLOBAL MARKETS
European shares touched a four-year high in early trading on Wednesday, as comments from US President Donald Trump sparked hopes of an imminent resolution to the drawn-out trade war with China. Trump said on Tuesday that Washington was in the “final throes” of work on an initial trade agreement, adding to optimism from earlier in the day when Beijing said top negotiators from both countries had reached a consensus on “resolving relevant problems”.
In Asian, however, China shares fell as weak industrial profit data highlighted growing strains on the economy. At the close, the Shanghai Composite index fell 0.1 per cent to 2,903.19 and the blue-chip CSI300 index was down 0.4 per cent, while most other Asian markets gained on hopes of a deal.
In commodities, oil prices slipped after an industry report showed a surprise build-up in US crude inventories, but optimism surrounding the signing of the first phase of a US-China trade deal prevented a bigger slide in prices.
(With inputs from Reuters)
CATCH ALL THE LIVE UPDATES
Auto Refresh
03:41 PM
PSU banks gained ground in trade today
03:40 PM
YES Bank, SBI among top Sensex gainers
03:39 PM
Index watch
03:36 PM
CLOSING BELL
The S&P BSE Sensex gains 199 points or 0.49 per cent to end at 41,021 while NSE's Nifty50 index ended at 12,101, up 63 points or 0.52 per cent.
03:15 PM
HDFC nears record high of Rs 2,357 touched on July 18, 2019.
- The stock rose 1% to Rs 2,353 in the intra-day trade on the BSE.
03:12 PM
SBI regains Rs 3 trillion market-cap, stock up 2%
03:00 PM
HCL Technologies gains 2% after fixing record date for bonus issue
Shares of HCL Technologies climbed 2 per cent at Rs 1,135 on the BSE on Wednesday after the IT company fixed December 7 as the record date for the 1:1 bonus share. The stock will turn ex-bonus on December 5, 2019. The board of directors of HCL Tech at their meeting held on October 23, had approved and recommended issue of one bonus share for every one equity share held by the equity shareholders of the Company. READ MORE
HCl Tech Q2 net income rises 4.4% to Rs 2,651 crore, EBIT up 17.9%
02:53 PM
IPO ALERT | Ujjivan Small Finance Bank's IPO to open on Dec 2
02:47 PM
NEWS ALERT | SBI Cards files for IPO; to issue fresh shares worth Rs 500 cr: CNBC TV18
-- To issue 13.05 cr shares via offer-For-Sale
02:40 PM
BUZZING STOCKS | Sudden spike in Graphite India
02:39 PM
News Impact | Godfrey Phillips sees sharp surge as Lok Sabha clears Bill banning production, import and sale of electronic cigarettes
-- Stock zooms 8%, hits 52-week high of Rs 1,354/sh
02:35 PM
NEWS ALERT | Bill to ban production, import, and sale of e-cigarettes passed by Lok Sabha: CNBC TV18
02:34 PM
Market check
02:29 PM
BSE Oil & Gas index is trading 0.83% higher
02:16 PM
Global Markets check
Asian shares ticked higher on Wednesday as more upbeat signals from Sino-US trade talks fanned hopes of an imminent end to tariff hostilities, which helped offset concerns about a slowing US economy.
US President Donald Trump said on Tuesday that the United States and China are close to agreement on the first phase of a trade deal after top negotiators from the two countries spoke by telephone and agreed to keep working on remaining issues.
Japan's Nikkei settled 0.28 per cent higher, while South Korea's Kospi added 0.31 per cent at close. China's Shanghai Composite index, however, slipped 0.13 per cent.
European shares hit a four-year high on Wednesday. The pan-European STOXX 600 index was up 0.3% at 1:35 PM, led by trade-sensitive miners
(Reuters)
02:04 PM
Stocks that hit 52-week low on BSE500 today
COMPANY PRICE(RS) 52 WK LOW CHG(RS) CHG(%)
ALLAHABAD BANK 23.30 23.15 0.00 0.00
C P C L 127.90 126.25 -0.65 -0.51
JAIN IRRIGATION 10.45 10.45 -0.55 -5.00
MPHASIS 830.45 828.15 -10.65 -1.27
» More on 52 Week Low
02:04 PM
Ashok Leyland bags order for 1,750 buses from Tamil Nadu State Transport
Ashok Leyland, flagship of the Hinduja Group, has bagged an order from Tamil Nadu STU (Tamil Nadu State Transport Undertakings) for 1750 buses.
Anuj Kathuria, COO, Ashok Leyland, said, "We are very happy to receive the confirmation of this order from TN STU. Our ability to bring value, combined with our superior technology and innovation will help us maintain our leadership position in buses in lndia."
Sanjay Saraswat, President - MHCV, Ashok Leyland, said. "With this order, our orderbook for State Transport Undertakings has enhanced significantly. This is a testament to the reliability, durability and robustness of our buses. The cost of ownership and the product experience which we can deliver is the best in the industry." READ MORE
01:45 PM
Metal stocks trade higher
01:36 PM
Sensex inches higher
01:29 PM
BSE Capital Goods index hits over 2-month low; L&T down 3%
Shares of capital goods companies were under pressure on Wednesday with the S&P BSE Capital Goods index hitting an over two-month low on concerns of weak outlook due to declining order visibility and execution stress. At 01:00 pm, the S&P BSE Capital Goods index, the largest loser among sectoral indices, was down 1.8 per cent, as compared to a 0.24 per cent rise in the benchmark S&P BSE Sensex. READ MORE
Illustration: Binay Sinha
01:22 PM
NEWS ALERT | Govt to meet bankers tomorrow to select advisers for BPCL's stake sale: Bloomberg
01:21 PM
Karvy indulged in activities which were never allowed, says Sebi chief
In the aftermath of Karvy Stock Broking episode, capital market watchdog Sebi on Wednesday said the brokerage was indulging in activities which were "never allowed". The comments from the regulator's chairman Ajay Tyagi come days after Securities and Exchange Board of India (Sebi) banned Karvy, with immediate effect, for selling client stocks pledged with it through associated entities. READ MORE
Ajay Tyagi, Sebi Chief. Photo: Kamlesh Pednekar
01:18 PM
NEWS ALERT | Promoter holding will fall from 100% to 80-85% post IPO: Ujjivan Small Fin Bank
-- Promoter holding has to fall below 40%, will talk to RBI about it
-- Have been in discussion with RBI regarding Reverse Merger in 5 yrs
-- Will apply for Universal Bank licence in 6 yrs
(As reported by CNBC TV18)
01:10 PM
NEWS ALERT | Air India will have to be shut if not privatised: Aviation Min in Parliament, reports CNBC TV18
01:05 PM
NEWS ALERT | Alternative mechanism on Air India has taken some decisions: Aviation Min in Parliament
-- Issue of inviting bids to arise only after process completion
(As reported by CNBC TV18)
01:04 PM
NEWS ALERT | Aditya Birla Sun Life MF receives repayment worth Rs 840 cr on sale of shareholding of ZEEL: sources to CNBC TV18
-- Amount comprises the principal amount and interest accrued
12:58 PM
BUZZING STOCK:: Whirlpool of India up 5%
12:49 PM
SpiceJet trades lower after HSBC reduces target price
-- Says, subdued yield and cost pressure risk H2FY20 profitability
-- Cuts FY20 profit estimate by 27%
-- TP reduced from Rs 130 to Rs 115
12:38 PM
Slow growth, infra spending in India to keep states' deficit high: Moody's
Indian sates, which do not generate sufficient own-source revenue for their spending needs and remain dependent on central government grants, have recorded larger deficits in recent years. The implementation of the goods and services tax (GST) further reduced states’ share of own-source revenues, the rating agency said in a statement.
Moody’s on Wednesday released report “Regional & Local Governments - India: Indian states face challenges in reducing deficits, constraining government fiscal consolidation”. READ MORE
12:30 PM
Thomas Cook dips over 3%
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