Indian equity markets declined for the third straight session as investors adjusted their positions on expiry of Futures and options (F&O) contracts for the December series.
Banking counters, led by YES Bank, HDFC Bank, and Punjab National Bank, coupled with heavyweights like Reliance Industries, L&T, and Infosys dragged the benchmark S&P BSE Sensex297.50 points or 0.72 per cent lower to 41,163.76 level. Bharti Airtel, RIL, L&T, and Sun Pharma slipped over 2 per cent, and were the top drags on the 30-share index. On the upside, ONGC, Tata Steel, Bajaj Finance, and NTPC gained between 1 and 2 per cent. On the NSE, the broader Nifty50 settled with 88 points, or 0.72 per cent, cut at 12,126.55-mark.
The Sensex and Nifty had hit an intra-day low of 41,139.63 and 12,118.85, respectively.
Sectorally, all the indices on the NSE, barring Nifty Metal index (up 0.58 per cent), closed the day in the negative territory. Nifty PSU Bank index was the worst performer of the day, down 1.46 per cent at close, followed by Nifty Pharma index (0.94 per cent), and Nifty Private bank and Bank indices (0.8 per cent each).
In the broader market, the mid-caps followed the frontline indices, with the S&P BSE mid-cap index down 0.16 per cent to 14,794.78- level by close. On the contrary, the S&P BSE small-cap index settled 0.41 per cent higher at 13,439.24.
GLOBAL CUES
Asian shares ended higher on Thursday with Japan's Nikkei index up 0.6 per cent, while South Korea's Kospi closed 0.36 per cent higher.
In the commodity market, oil prices rose on Thursday, buoyed by a potential breakthrough in the Sino-US trade war and OPEC-led efforts to constrain supply. Brent crude was up 28 cents, or 0.4 per cent, at $67.48 a barrel. West Texas Intermediate was up 25 cents, also a 0.4 per cent gain, at $61.36 a barrel.
(With inputs from Reuters)
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04:00 PM
Market Closing Comment :: Vinod Nair, Head of Research at Geojit Financial Services
Market started-off on a flat note during the holiday-shortened week. Consolidation, however, extended on account of F&O expiry led volatility and concern over the fiscal math of the government due to possible delay in divestments planned this fiscal. Global markets seem to be in comfort zone fuelled by hopes of easing trade tension, while the domestic market is expected to wait for cues from the budget
03:44 PM
Sectoral trends at NSE at close
03:43 PM
Top gainers and losers on S&P BSE Sensex at close
03:42 PM
Closing Bell
>> The benchmark S&P BSE Sensex slipped 297.50 points or 0.72 per cent to 41,163.76 level
>> On the NSE, the broader Nifty50 settled with 84.55 points, or 0.69 per cent, cut at 12,130-mark.
03:25 PM
After a tough year, auto industry hopes for smooth drive from H2 2020
Society of Indian Automobile Manufacturers (SIAM) data shows from January to November 2019, total automobile sale was down by 13.8 per cent to 21,667,672 from 25,141,388 units, a year ago.
Commercial vehicle declined by 22.12 % between April-November 2019, followed by passenger vehicles (-17.98%), two-wheelers (-15.74%) and three-wheelers (-4.97%). The slowdown resulted in 13 per cent production cuts and job losses to the tune of over 250,000.
Slowdown in the economy, price increase, regulatory changes, change in ownership model, slowdown in infrastructure spending, change in axle load norms are the key reasons. READ MORE
03:08 PM
NEWS ALERT | Reliance Industries down for fourth straight day, down 5% in 4 days
>> Market-cap down by Rs 54,454 crore
02:56 PM
Market extends losses, at day's low now
02:46 PM
Mukesh Ambani's Reliance Retail valued at $34 billion in share swap
Share owners in Reliance Retail Ltd. can exchange four shares for one of its listed parent Reliance Industries Ltd., according to a so-called scheme of arrangement posted on the group’s website. With the parent’s latest market capitalization at 9.8 trillion rupees ($137 billion), the share swap values the subsidiary at 2.4 trillion rupees, according to Bloomberg’s calculation. READ MORE
Jio will charge customers 6 paise per minute for voice calls, but will compensate them by giving free data of equal value
02:37 PM
Heatmap: S&P BSE Sensex
02:37 PM
Manappuram Finance to raise up to Rs 350 crore through issuance of NCDs
Manappuram Finance Ltd on Thursday said it plans to raise up to Rs 350 crore through issuance of non-convertible debentures on private placement basis.
The financial resources and management committee of the board of directors of the company on Thursday approved the issuance of rated, secured, redeemable non-convertible debentures having face value of Rs 10 lakh each for the amount of Rs 350 crores, Manappuram Finance said in a regulatory filing.
Furthermore, another meeting of the financial resources and management committee of the board of directors of the company will be held on December 31, to consider the proposed allotment for the said issue, the filing said.
02:28 PM
BSE500 stocks that hit 52-week low today
COMPANY PRICE(RS) 52 WK LOW CHG(RS) CHG(%)
ALLAHABAD BANK 18.55 18.55 -0.15 -0.80
DISHMAN CARBOGEN 79.25 71.00 7.15 9.92
EIH 138.00 137.80 -3.05 -2.16
INDIAN BANK 103.60 103.10 -1.20 -1.15
TCNS CLOTHING 590.00 590.00 -17.30 -2.85
» More on 52 Week Low
02:19 PM
NEWS ALERT | CARE Ratings assigns 'AAA' rating to Can Fin Homes' NCDs worth Rs 8,300 cr: CNBC TV18
02:09 PM
Sensex can hit 49,000 mark in 2020, technical charts suggest
As calendar year 2019 (CY19) draws to a close, investors are preparing to usher in the New Year with cautious optimism amid hope of a recovery in economic growth aided by cut in interest rates by the Reserve Bank of India (RBI). Here’s how key indices look on the technical charts.
S&P BSE Sensex: The index formed a strong bottom around 36,000 levels, which should act as a turning point in calendar year 2020 (CY20) in case the markets correct. READ MORE
stock, stock market, trading, investment, investor, tax, job, corporate jobs, worker, employment, entrepreneurs, tax, returns
02:06 PM
MARKET CHECK | S&P BSE Oil & Gas index slides 0.85%
01:55 PM
Market at day's low
01:54 PM
Around 50 securities hit 52-week low on the NSE
Source: NSE
01:45 PM
BROKERAGE RADAR | Geojit Financial Services on HPCL
CMP: Rs 264 | TARGET: Rs 312 | RETURN: 18%
Future growth prospects look promising with capacity expansions projects and expected improvement in margins. Hence, we upgrade our rating on the stock to a BUY, with a revised TP of Rs 312 based on SOTP.
01:40 PM
Rupee check
01:36 PM
DoT to seek Trai's views on 5G; considers spectrum auction in 2020
The Department of Telecom will soon seek sector regulator Trai's recommendations on pricing and other modalities for coveted 5G bands of 24.75-27.25 GHz, and wants to put this new spectrum up for auction sometime next year, sources said. READ MORE
Seasonal impact: Telecom companies may see flat ARPU growth in Q2
01:21 PM
Five-fold increase in dollar bonds in 2019, firms raise $23.6 billion
Indian companies raised $23.6 billion through dollar bonds in 2019, marking a nearly five-fold jump from the year before as access to funds narrowed in the country and borrowing in offshore markets became cheaper. Data shows that companies in infrastructure, power, metal and shadow banking issued a slew of such bonds. "Globally, the rates have been conducive. READ MORE
Statsguru: RBI's Monetary Policy Committee stares at a tough decision
01:14 PM
Contribution to S&P BSE Sensex's fall today
01:03 PM
Cotton yarn spinners stare at 200-400 bps margin squeeze: CRISIL
Operating margin of domestic cotton yarn spinners is expected to shrink 200-400 basis points (bps) on-year in fiscal 2020 owing to a narrowed spread1 between cotton and yarn prices as compared to last fiscal. Higher domestic cotton prices compared with international prices during April-October 2019, a sharp fall in exports mainly to China and Pakistan, and the resultant domestic oversupply would lead to the squeeze.
12:49 PM
FPI inflow in equity nears Rs 1 trillion in 2019, highest in six years
FPIs reposed faith in India in the fourth quarter of CY19, putting in Rs 43,781 crore during October – December CY19, after pulling out Rs 22,463 crore from Indian equities during the third quarter (July-September) of CY19 from the equity market, according to the latest available depository data. READ MORE
Top FPIs see modest rise in investment value amid sustained volatility
12:48 PM
Whirlpool of India up 4%
12:43 PM
Top gainers on the BSE at this hour
12:30 PM
Jet Airways hits upper circuit for 7th straight day, nears 3-month high
Shares of Jet Airways (India) were locked in 5 per cent upper circuit for the seventh straight day at Rs 28.25 on the BSE on Thursday as the creditors of the shuttered airline decided to seek fresh initial bids for the airline. The stock is trading at its highest level since September 30, 2019. The Committee of Creditors (CoC) would seek fresh Expression of Interest (EoI), according to a regulatory filing on Monday. READ MORE
Jet Airways
12:29 PM
BROKERAGE RADAR | Anand Rathi Research on HG Infra Engineering
Rating: Buy | Target Price: Rs 377
While management lowered its FY20 revenue guidance, our estimates already reflected our conservative stance and, thus, we retain our earlier estimates. At the ruling price, (excl.investments) the stock trades at PER of 7.6x FY20e and 6.3x FY21e. Risk: Slower-than-expected pace of execution.
12:25 PM
Only 18% fresh capital raised in IPOs used to fund company's needs
Companies raising money from the market for the first time in 2019 largely looked to provide an exit to shareholders, rather than garner capital for the firm’s needs. Only 17.7 per cent of the Rs 11,115.6 crore raised through such initial public offerings (IPOs) in 2019 was in the form of fresh capital used to fund the company’s needs, shows an analysis of numbers from primary market tracker Prime Database. READ MORE
IPO market
12:19 PM
Bharti Infratel slips 1.5% as merger with Indus Towers gets delayed
In October this year, Bharti Infratel had extended the deadline for merger by two months to December 24 as regulatory uncertainty loomed over the deal. As on September 30, 2019, Bharti Infratel and Vodafone India hold 42 per cent stake each in Indus. Vodafone Idea holds 11.15 per cent stake in the mobile tower firm. READ MORE
Brokers trade at their computer terminals at a stock brokerage firm in Mumbai. Photo: Reuters
12:18 PM
Fertiliser stocks in focus; RCF, GNFC, Zuari, Chambal up over 4%
COMPANY LATEST PREV CLOSE GAIN(RS) GAIN(%) VOLUME
ZUARI AGRO CHEM. 96.75 86.65 10.10 11.66 12402
G N F C 177.20 166.80 10.40 6.24 59812
R C F 46.70 44.30 2.40 5.42 148671
NATL.FERTILIZER 25.95 24.80 1.15 4.64 20491
CHAMBAL FERT. 150.15 143.60 6.55 4.56 47026Click here for the full list
Banking counters, led by YES Bank, HDFC Bank, and Punjab National Bank, coupled with heavyweights like Reliance Industries, L&T, and Infosys dragged the benchmark S&P BSE Sensex297.50 points or 0.72 per cent lower to 41,163.76 level. Bharti Airtel, RIL, L&T, and Sun Pharma slipped over 2 per cent, and were the top drags on the 30-share index. On the upside, ONGC, Tata Steel, Bajaj Finance, and NTPC gained between 1 and 2 per cent. On the NSE, the broader Nifty50 settled with 88 points, or 0.72 per cent, cut at 12,126.55-mark.
The Sensex and Nifty had hit an intra-day low of 41,139.63 and 12,118.85, respectively.
Sectorally, all the indices on the NSE, barring Nifty Metal index (up 0.58 per cent), closed the day in the negative territory. Nifty PSU Bank index was the worst performer of the day, down 1.46 per cent at close, followed by Nifty Pharma index (0.94 per cent), and Nifty Private bank and Bank indices (0.8 per cent each).
In the broader market, the mid-caps followed the frontline indices, with the S&P BSE mid-cap index down 0.16 per cent to 14,794.78- level by close. On the contrary, the S&P BSE small-cap index settled 0.41 per cent higher at 13,439.24.
GLOBAL CUES
Asian shares ended higher on Thursday with Japan's Nikkei index up 0.6 per cent, while South Korea's Kospi closed 0.36 per cent higher.
In the commodity market, oil prices rose on Thursday, buoyed by a potential breakthrough in the Sino-US trade war and OPEC-led efforts to constrain supply. Brent crude was up 28 cents, or 0.4 per cent, at $67.48 a barrel. West Texas Intermediate was up 25 cents, also a 0.4 per cent gain, at $61.36 a barrel.
(With inputs from Reuters)
CATCH ALL THE LIVE UPDATES
Auto Refresh
04:00 PM
Market Closing Comment :: Vinod Nair, Head of Research at Geojit Financial Services
Market started-off on a flat note during the holiday-shortened week. Consolidation, however, extended on account of F&O expiry led volatility and concern over the fiscal math of the government due to possible delay in divestments planned this fiscal. Global markets seem to be in comfort zone fuelled by hopes of easing trade tension, while the domestic market is expected to wait for cues from the budget
03:44 PM
Sectoral trends at NSE at close
03:43 PM
Top gainers and losers on S&P BSE Sensex at close
03:42 PM
Closing Bell
>> The benchmark S&P BSE Sensex slipped 297.50 points or 0.72 per cent to 41,163.76 level
>> On the NSE, the broader Nifty50 settled with 84.55 points, or 0.69 per cent, cut at 12,130-mark.
03:25 PM
After a tough year, auto industry hopes for smooth drive from H2 2020
Society of Indian Automobile Manufacturers (SIAM) data shows from January to November 2019, total automobile sale was down by 13.8 per cent to 21,667,672 from 25,141,388 units, a year ago.
Commercial vehicle declined by 22.12 % between April-November 2019, followed by passenger vehicles (-17.98%), two-wheelers (-15.74%) and three-wheelers (-4.97%). The slowdown resulted in 13 per cent production cuts and job losses to the tune of over 250,000.
Slowdown in the economy, price increase, regulatory changes, change in ownership model, slowdown in infrastructure spending, change in axle load norms are the key reasons. READ MORE
03:08 PM
NEWS ALERT | Reliance Industries down for fourth straight day, down 5% in 4 days
>> Market-cap down by Rs 54,454 crore
02:56 PM
Market extends losses, at day's low now
02:46 PM
Mukesh Ambani's Reliance Retail valued at $34 billion in share swap
Share owners in Reliance Retail Ltd. can exchange four shares for one of its listed parent Reliance Industries Ltd., according to a so-called scheme of arrangement posted on the group’s website. With the parent’s latest market capitalization at 9.8 trillion rupees ($137 billion), the share swap values the subsidiary at 2.4 trillion rupees, according to Bloomberg’s calculation. READ MORE
Jio will charge customers 6 paise per minute for voice calls, but will compensate them by giving free data of equal value
02:37 PM
Heatmap: S&P BSE Sensex
02:37 PM
Manappuram Finance to raise up to Rs 350 crore through issuance of NCDs
Manappuram Finance Ltd on Thursday said it plans to raise up to Rs 350 crore through issuance of non-convertible debentures on private placement basis.
The financial resources and management committee of the board of directors of the company on Thursday approved the issuance of rated, secured, redeemable non-convertible debentures having face value of Rs 10 lakh each for the amount of Rs 350 crores, Manappuram Finance said in a regulatory filing.
Furthermore, another meeting of the financial resources and management committee of the board of directors of the company will be held on December 31, to consider the proposed allotment for the said issue, the filing said.
02:28 PM
BSE500 stocks that hit 52-week low today
COMPANY PRICE(RS) 52 WK LOW CHG(RS) CHG(%)
ALLAHABAD BANK 18.55 18.55 -0.15 -0.80
DISHMAN CARBOGEN 79.25 71.00 7.15 9.92
EIH 138.00 137.80 -3.05 -2.16
INDIAN BANK 103.60 103.10 -1.20 -1.15
TCNS CLOTHING 590.00 590.00 -17.30 -2.85
» More on 52 Week Low
02:19 PM
NEWS ALERT | CARE Ratings assigns 'AAA' rating to Can Fin Homes' NCDs worth Rs 8,300 cr: CNBC TV18
02:09 PM
Sensex can hit 49,000 mark in 2020, technical charts suggest
As calendar year 2019 (CY19) draws to a close, investors are preparing to usher in the New Year with cautious optimism amid hope of a recovery in economic growth aided by cut in interest rates by the Reserve Bank of India (RBI). Here’s how key indices look on the technical charts.
S&P BSE Sensex: The index formed a strong bottom around 36,000 levels, which should act as a turning point in calendar year 2020 (CY20) in case the markets correct. READ MORE
stock, stock market, trading, investment, investor, tax, job, corporate jobs, worker, employment, entrepreneurs, tax, returns
02:06 PM
MARKET CHECK | S&P BSE Oil & Gas index slides 0.85%
01:55 PM
Market at day's low
01:54 PM
Around 50 securities hit 52-week low on the NSE
Source: NSE
01:45 PM
BROKERAGE RADAR | Geojit Financial Services on HPCL
CMP: Rs 264 | TARGET: Rs 312 | RETURN: 18%
Future growth prospects look promising with capacity expansions projects and expected improvement in margins. Hence, we upgrade our rating on the stock to a BUY, with a revised TP of Rs 312 based on SOTP.
01:40 PM
Rupee check
01:36 PM
DoT to seek Trai's views on 5G; considers spectrum auction in 2020
The Department of Telecom will soon seek sector regulator Trai's recommendations on pricing and other modalities for coveted 5G bands of 24.75-27.25 GHz, and wants to put this new spectrum up for auction sometime next year, sources said. READ MORE
Seasonal impact: Telecom companies may see flat ARPU growth in Q2
01:21 PM
Five-fold increase in dollar bonds in 2019, firms raise $23.6 billion
Indian companies raised $23.6 billion through dollar bonds in 2019, marking a nearly five-fold jump from the year before as access to funds narrowed in the country and borrowing in offshore markets became cheaper. Data shows that companies in infrastructure, power, metal and shadow banking issued a slew of such bonds. "Globally, the rates have been conducive. READ MORE
Statsguru: RBI's Monetary Policy Committee stares at a tough decision
01:14 PM
Contribution to S&P BSE Sensex's fall today
01:03 PM
Cotton yarn spinners stare at 200-400 bps margin squeeze: CRISIL
Operating margin of domestic cotton yarn spinners is expected to shrink 200-400 basis points (bps) on-year in fiscal 2020 owing to a narrowed spread1 between cotton and yarn prices as compared to last fiscal. Higher domestic cotton prices compared with international prices during April-October 2019, a sharp fall in exports mainly to China and Pakistan, and the resultant domestic oversupply would lead to the squeeze.
12:49 PM
FPI inflow in equity nears Rs 1 trillion in 2019, highest in six years
FPIs reposed faith in India in the fourth quarter of CY19, putting in Rs 43,781 crore during October – December CY19, after pulling out Rs 22,463 crore from Indian equities during the third quarter (July-September) of CY19 from the equity market, according to the latest available depository data. READ MORE
Top FPIs see modest rise in investment value amid sustained volatility
12:48 PM
Whirlpool of India up 4%
12:43 PM
Top gainers on the BSE at this hour
12:30 PM
Jet Airways hits upper circuit for 7th straight day, nears 3-month high
Shares of Jet Airways (India) were locked in 5 per cent upper circuit for the seventh straight day at Rs 28.25 on the BSE on Thursday as the creditors of the shuttered airline decided to seek fresh initial bids for the airline. The stock is trading at its highest level since September 30, 2019. The Committee of Creditors (CoC) would seek fresh Expression of Interest (EoI), according to a regulatory filing on Monday. READ MORE
Jet Airways
12:29 PM
BROKERAGE RADAR | Anand Rathi Research on HG Infra Engineering
Rating: Buy | Target Price: Rs 377
While management lowered its FY20 revenue guidance, our estimates already reflected our conservative stance and, thus, we retain our earlier estimates. At the ruling price, (excl.investments) the stock trades at PER of 7.6x FY20e and 6.3x FY21e. Risk: Slower-than-expected pace of execution.
12:25 PM
Only 18% fresh capital raised in IPOs used to fund company's needs
Companies raising money from the market for the first time in 2019 largely looked to provide an exit to shareholders, rather than garner capital for the firm’s needs. Only 17.7 per cent of the Rs 11,115.6 crore raised through such initial public offerings (IPOs) in 2019 was in the form of fresh capital used to fund the company’s needs, shows an analysis of numbers from primary market tracker Prime Database. READ MORE
IPO market
12:19 PM
Bharti Infratel slips 1.5% as merger with Indus Towers gets delayed
In October this year, Bharti Infratel had extended the deadline for merger by two months to December 24 as regulatory uncertainty loomed over the deal. As on September 30, 2019, Bharti Infratel and Vodafone India hold 42 per cent stake each in Indus. Vodafone Idea holds 11.15 per cent stake in the mobile tower firm. READ MORE
Brokers trade at their computer terminals at a stock brokerage firm in Mumbai. Photo: Reuters
12:18 PM
Fertiliser stocks in focus; RCF, GNFC, Zuari, Chambal up over 4%
COMPANY LATEST PREV CLOSE GAIN(RS) GAIN(%) VOLUME
ZUARI AGRO CHEM. 96.75 86.65 10.10 11.66 12402
G N F C 177.20 166.80 10.40 6.24 59812
R C F 46.70 44.30 2.40 5.42 148671
NATL.FERTILIZER 25.95 24.80 1.15 4.64 20491
CHAMBAL FERT. 150.15 143.60 6.55 4.56 47026Click here for the full list
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