A weak trading sentiment across the globe, and concerns over infrastructure output data for November -- due later in the day -- pushed investors towards profit-booking on the last trading day of calendar year 2019. Information Technology (IT) stocks dragged indices lower on the back of a stronger rupee, coupled with decline in automobile counters. That apart, heavyweight private banking stocks, including ICICIBank and HDFC Bank, put pressure on the indices.
The S&P BSE Sensex settled at 41,253.74 level, down 304.26 points or 0.73 per cent, with 24 of the 30 constituents on the index settling in the negative territory. Tech Mahindra, Bajaj Auto, Reliance Industries, and Hero MotoCorp were the top losers today, while NTPC, ONGC, Sun Pharma, and Power Grid ended as the top gainers.
At close, the S&P BSE India Infrastructure index was up 0.8 per cent, after finance minister Nirmala Sitharaman announced plan to provide Rs 102 lakh crore infra-push over the next 5 years. KNR Constructions, IRB Developers, Gujarat Pipavav Ports, and PFC rallied up to 6 per cent. READ MORE
On the NSE, the broader Nifty50 index held the 12,150-mark to close at 12,168.45-level, down 87.4 points or 0.71 per cent. On the sectoral front, all the indices, barring Nifty Realty and Metal indices, slipped in the trade today. Nifty IT and Auto indices gave up 0.8 per cent each, while Nifty Realty index gained 0.7 per cent.
In the broader markets, the small-cap index outperformed the headline indices. The S&P BSE small-cap index ended 0.37 per cent higher at 13,699.37 level, as against a 0.03 per cent decline in the S&P BSE mid-cap index, which settled at 14,967.83.
MARKETS IN 2019
The year 2019 saw benchmark indices scale fresh lifetime highs amid volatility. Trade war concerns, tax proposals for India Inc and foreign portfolio investors (FPIs), the overall slowdown in the economy, rate cuts by the Reserve Bank of India were some of the key factors that guided markets through 2019.
The benchmark S&P BSE Sensex advanced 14.6 per cent in CY19, while the Nifty50 and Nifty Bank indices added 12.2 and 18.5 per cent, respectively. However, the BSE Midcap and SmallCap indices have slipped 3 per cent and 8 per cent, respectively, thus giving a negative return for the second year in a row.
GLOBAL CUES
In a shortened session ahead of the New Year’s Eve celebrations, the pan-European STOXX 600 index shed 0.3 per cent. French, British, and Spanish stocks lost between 0.4 per cent and 0.8 per cent, while Frankfurt and Milan bourses were shut for the year-end holidays.
Asian shares slipped on the last trading day of the decade.
Early in the Asian trading session, MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.39 per cent. Australian shares were 1.69 per cent lower and Hong Kong's Hang Seng dropped 0.32 per cent.
(With inputs from Reuters)
CATCH ALL THE LIVE UPDATES
Auto Refresh
03:47 PM
Sectoral trends at NSE at close
03:47 PM
Top gainers and losers on S&P BSE Sensex during at close
03:46 PM
Closing Bell
>> The S&P BSE Sensex settled at 41,253.74-level, down 304.26 points or 0.73 per cent, with 24 of the 30 constituents on the index settling in the negative territory
>> On the NSE, the broader Nifty50 index held the 12,150-mark to close at 12,168.45-level, down 87.4 points or 0.71 per cent.
03:30 PM
Infra stocks rally
03:27 PM
NEWS ALERT | Power, Railways, Irrigation, Urban Mobility some of the areas under infra pipeline: FM Sitharaman
03:25 PM
STOCK ALERT | Reliance Industries hits 6-week low
>> Stock down 7% from its record high level of Rs 1,618 on December 20, 2019
03:23 PM
NEWS ALERT | Govt will commit infra projects Rs 100 trillion over the next 5 yrs: FM
03:23 PM
NEWS ALERT | Intend to launch a National Infrastructure Pipeline: FM
>> To monitor the progress and link all stake holders
03:22 PM
NEWS ALERT | Task force has recommended infra projects worth Rs 102 trillion: FM Sitharaman
03:19 PM
NEWS ALERT | FM begins media address
03:09 PM
Buzzing | Bombay Dyeing gains over 6%
02:59 PM
Market check | Sudden decline in Sensex
02:53 PM
Buzzing | APL Apollo Tubes hits 52-week high in a weak market
02:51 PM
BSE500 stocks that hit 52-week high today
COMPANY PRICE(RS) 52 WK HIGH CHG(RS) CHG(%)
AAVAS FINANCIERS 1967.00 1978.00 43.65 2.27
ADANI GREEN 166.50 166.50 7.90 4.98
AMBER ENTERP. 1114.10 1145.90 -16.55 -1.46
APL APOLLO 1880.80 1884.80 43.15 2.35
CHALET HOTELS 358.20 395.00 3.05 0.86
» More on 52 Week High
02:41 PM
Year in Review | In uncertain times, 2019 an eventful year for bonds, rupee
The year 2019 was an interesting one where global, as well as domestic factors, exerted an equal pull to determine the value of the asset classes. Towards the end, the Indian central bank introduced a special open market operations (OMO) to bring down bond yields. But this was not the only new tool that the central bank brought out from its arsenal. READ MORE
02:23 PM
Nifty sectoral indices at this hour
02:14 PM
Global Markets check
European shares looked set to end the decade with a whimper on Tuesday as investors locked in gains after a record rally that was fueled by optimism around trade and easing fears of a global recession.
In a shortened session ahead of the New Year’s Eve celebrations, the pan-European STOXX 600 index shed 0.3 per cent. French, British, and Spanish stocks lost between 0.4 per cent and 0.8 per cent, while Frankfurt and Milan bourses were shut for the year-end holidays.
Asian shares slipped on the last trading day of the decade.
Early in the Asian trading session, MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.39 per cent. Australian shares were 1.69 per cent lower and Hong Kong's Hang Seng dropped 0.32 per cent.
(via Reuters)
02:04 PM
BSE Smallcap index up for 5th straight day; Bodal Chemicals gains 13%
Shares of smallcap companies were in limelight on Tuesday with the S&P BSE Smallcap index trading higher for the fifth straight session on the BSE. At 01:26 pm, the smallcap index, up 0.46 per cent at 13,710 points, was the largest gainer among broader indices. In past five trading days, the smallcap index outperformed the market by gaining 2.5 per cent on the back of a strong rally in beaten down sector stocks like chemicals, auto ancillaries, sugar, media and credit rating agencies. READ MORE
BSE, Bombay stock exchange, NSE, GROWTH, investment, investor, MF, stock, market
01:53 PM
BROKERAGE RADAR | MOFSL on Jubilant Foodworks
CMP: Rs 1,632 | TP: Rs 1,720,( 5% Upside) | Reco: Buy
Jubilant FoodWorks (JUBI) is one of India’s largest food service Company, with a network of 1,200 Domino’s Pizza restaurants across 271 cities (as of Dec 31, 2018). The Company also has exclusive rights for developing and operating Dunkin’ Donuts restaurants for India and has 32 Dunkin’ Donuts restaurants across 10 cities in India.
The challenge of a high SSSG base eases significantly going forward and JUBI has done well in the face of 20% SSSG base in recent quarters.
With demand stabilizing, discretionary players with strong brands offer high scope for upside, in our view.
We expect over 25% EPS CAGR and improving RoEs over FY20-FY22.
01:44 PM
Top technical picks for 2020 by MOFSL
01:39 PM
BROKERAGE RADAR | Reliance Securities on Mangalam Cement
Mangalam Cement (MGC) is likely to witness healthy traction ahead mainly on account of steady realisation in Northern region and cost synergies.
Notably, commissioning of 11MW WHRS in the last month and recent USA petcoke contract at US$70 (US$77/tonne average cost in 2Q) along with likely improvement in utilisation will lead to meaningful decline in opex in the subsequent quarters.
Further, improved fly-ash availability, new coal mining and improved biomass contribution are expected to aid it’s operating performance.
We forecast EBITDA/tonne at Rs707 and Rs696 for FY20E and FY21E, respectively.
We maintain our fundamental BUY recommendation on the stock with a Target Price of Rs 400.
01:38 PM
BROKERAGE RADAR | Emkay Global Financial Services on SBI Life
We believe SBIL is on the right track given the increased focus on improving product mix toward the high-margin protection segment and taking granular steps toward digitalization. Backed by high operational efficiency, it enjoys the lowest cost ratio of ~10--11% (as % of NEP) among its peers. We expect the company to clock 19.9% APE growth over the next three years, with non-par savings/protection growing 47.2%/42.8% over FY19-FY22E. VNB is expected to see 24.4% CAGR over FY19-FY22E. EV is expected to register 17.5% CAGR over the same period. We maintain Buy rating and OW stance in EAP with a revised TP of Rs 1,100 (earlier Rs 965) at 3.3x Sep’21E EV
01:35 PM
Rupee check
01:33 PM
Breakout year? Steel players hope for demand surge, better prices in 2020
After 2019 saw the domestic market grapple with surge in imports, increased dependence on imported coking coal from select countries, the steel ministry will be focusing on managing availability of iron ore as leases of a clutch of mines are scheduled to expire in March next year. READ MORE
01:29 PM
2019 review :: Rusmik Oza, Sr. VP (Head of Fundamental Research-PCG), Kotak Securities
>> The polarisation seen in CY18 continued in CY19 with only a handful of stocks contributing to the returns in Nifty-50.
>> We expect the divide between Indian equities and economy to continue in CY20 because there may not be a quick recovery in the economy but market may do relatively better on account of strong earnings and favourable tax changes.
>> For 2020, we see valuations attractive in sectors like capital goods, utilities, oil & gas, construction, metals & mining and auto ancillaries.
01:17 PM
Top losers on BSE at this hour
01:07 PM
NEWS ALERT | Govt to invite EoI for Air India in a few weeks: Hardeep Singh Puri
>> Got lot of interest from private players
>> Want an Indian airline to acquire Air India for Strategic reasons
>> Govt reluctant to infuse more funds in AI
>> Next meeting on Alternative Mechanism for AI in few weeks
(As reported by CNBC TV18)
01:03 PM
Pre-budget meet: IT industry seeks 15% corp tax for services cos in SEZs
"What we have suggested is that given that they have reduced the manufacturing corporate tax rate to 15 per cent...the fact that the SEZ sunset is happening, at least for the new services companies in SEZs, if you make it 15 (per cent), then you will have one composite rate in SEZ for both manufacturing and services," Nasscom Senior Director and Public Policy Head Ashish Aggarwal told PTI after the over two-hour meeting. READ MORE
12:55 PM
Sector watch | Telecom shares trade mixed
COMPANY NAME LATEST HIGH LOW CHG
(RS) CHG(%) VALUE
(RS CR) VOLUME
VODAFONE IDEA 6.09 6.25 5.97 -0.06 -0.98 8.29 13615532
REL. COMM. 0.86 0.89 0.83 -0.01 -1.15 0.04 499343
QUADRANT TELE. 0.20 0.20 0.19 0.01 5.26 0.00 101092
BHARTI AIRTEL 461.15 462.45 458.60 0.65 0.14 3.85 83564
TEJAS NETWORKS 94.75 96.95 79.35 6.60 7.49 0.66 69579
12:48 PM
NEWS ALERT | DoT to allocate spectrum for 5G trials by Jan: sources to CNBC TV18
>> Spectrum-to-spectrum allocated for a duration of 1 yr
>> All major vendors, including Huawei, present for meeting with Telecom secy
The S&P BSE Sensex settled at 41,253.74 level, down 304.26 points or 0.73 per cent, with 24 of the 30 constituents on the index settling in the negative territory. Tech Mahindra, Bajaj Auto, Reliance Industries, and Hero MotoCorp were the top losers today, while NTPC, ONGC, Sun Pharma, and Power Grid ended as the top gainers.
At close, the S&P BSE India Infrastructure index was up 0.8 per cent, after finance minister Nirmala Sitharaman announced plan to provide Rs 102 lakh crore infra-push over the next 5 years. KNR Constructions, IRB Developers, Gujarat Pipavav Ports, and PFC rallied up to 6 per cent. READ MORE
On the NSE, the broader Nifty50 index held the 12,150-mark to close at 12,168.45-level, down 87.4 points or 0.71 per cent. On the sectoral front, all the indices, barring Nifty Realty and Metal indices, slipped in the trade today. Nifty IT and Auto indices gave up 0.8 per cent each, while Nifty Realty index gained 0.7 per cent.
In the broader markets, the small-cap index outperformed the headline indices. The S&P BSE small-cap index ended 0.37 per cent higher at 13,699.37 level, as against a 0.03 per cent decline in the S&P BSE mid-cap index, which settled at 14,967.83.
MARKETS IN 2019
The year 2019 saw benchmark indices scale fresh lifetime highs amid volatility. Trade war concerns, tax proposals for India Inc and foreign portfolio investors (FPIs), the overall slowdown in the economy, rate cuts by the Reserve Bank of India were some of the key factors that guided markets through 2019.
The benchmark S&P BSE Sensex advanced 14.6 per cent in CY19, while the Nifty50 and Nifty Bank indices added 12.2 and 18.5 per cent, respectively. However, the BSE Midcap and SmallCap indices have slipped 3 per cent and 8 per cent, respectively, thus giving a negative return for the second year in a row.
GLOBAL CUES
In a shortened session ahead of the New Year’s Eve celebrations, the pan-European STOXX 600 index shed 0.3 per cent. French, British, and Spanish stocks lost between 0.4 per cent and 0.8 per cent, while Frankfurt and Milan bourses were shut for the year-end holidays.
Asian shares slipped on the last trading day of the decade.
Early in the Asian trading session, MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.39 per cent. Australian shares were 1.69 per cent lower and Hong Kong's Hang Seng dropped 0.32 per cent.
(With inputs from Reuters)
CATCH ALL THE LIVE UPDATES
Auto Refresh
03:47 PM
Sectoral trends at NSE at close
03:47 PM
Top gainers and losers on S&P BSE Sensex during at close
03:46 PM
Closing Bell
>> The S&P BSE Sensex settled at 41,253.74-level, down 304.26 points or 0.73 per cent, with 24 of the 30 constituents on the index settling in the negative territory
>> On the NSE, the broader Nifty50 index held the 12,150-mark to close at 12,168.45-level, down 87.4 points or 0.71 per cent.
03:30 PM
Infra stocks rally
03:27 PM
NEWS ALERT | Power, Railways, Irrigation, Urban Mobility some of the areas under infra pipeline: FM Sitharaman
03:25 PM
STOCK ALERT | Reliance Industries hits 6-week low
>> Stock down 7% from its record high level of Rs 1,618 on December 20, 2019
03:23 PM
NEWS ALERT | Govt will commit infra projects Rs 100 trillion over the next 5 yrs: FM
03:23 PM
NEWS ALERT | Intend to launch a National Infrastructure Pipeline: FM
>> To monitor the progress and link all stake holders
03:22 PM
NEWS ALERT | Task force has recommended infra projects worth Rs 102 trillion: FM Sitharaman
03:19 PM
NEWS ALERT | FM begins media address
03:09 PM
Buzzing | Bombay Dyeing gains over 6%
02:59 PM
Market check | Sudden decline in Sensex
02:53 PM
Buzzing | APL Apollo Tubes hits 52-week high in a weak market
02:51 PM
BSE500 stocks that hit 52-week high today
COMPANY PRICE(RS) 52 WK HIGH CHG(RS) CHG(%)
AAVAS FINANCIERS 1967.00 1978.00 43.65 2.27
ADANI GREEN 166.50 166.50 7.90 4.98
AMBER ENTERP. 1114.10 1145.90 -16.55 -1.46
APL APOLLO 1880.80 1884.80 43.15 2.35
CHALET HOTELS 358.20 395.00 3.05 0.86
» More on 52 Week High
02:41 PM
Year in Review | In uncertain times, 2019 an eventful year for bonds, rupee
The year 2019 was an interesting one where global, as well as domestic factors, exerted an equal pull to determine the value of the asset classes. Towards the end, the Indian central bank introduced a special open market operations (OMO) to bring down bond yields. But this was not the only new tool that the central bank brought out from its arsenal. READ MORE
02:23 PM
Nifty sectoral indices at this hour
02:14 PM
Global Markets check
European shares looked set to end the decade with a whimper on Tuesday as investors locked in gains after a record rally that was fueled by optimism around trade and easing fears of a global recession.
In a shortened session ahead of the New Year’s Eve celebrations, the pan-European STOXX 600 index shed 0.3 per cent. French, British, and Spanish stocks lost between 0.4 per cent and 0.8 per cent, while Frankfurt and Milan bourses were shut for the year-end holidays.
Asian shares slipped on the last trading day of the decade.
Early in the Asian trading session, MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.39 per cent. Australian shares were 1.69 per cent lower and Hong Kong's Hang Seng dropped 0.32 per cent.
(via Reuters)
02:04 PM
BSE Smallcap index up for 5th straight day; Bodal Chemicals gains 13%
Shares of smallcap companies were in limelight on Tuesday with the S&P BSE Smallcap index trading higher for the fifth straight session on the BSE. At 01:26 pm, the smallcap index, up 0.46 per cent at 13,710 points, was the largest gainer among broader indices. In past five trading days, the smallcap index outperformed the market by gaining 2.5 per cent on the back of a strong rally in beaten down sector stocks like chemicals, auto ancillaries, sugar, media and credit rating agencies. READ MORE
BSE, Bombay stock exchange, NSE, GROWTH, investment, investor, MF, stock, market
01:53 PM
BROKERAGE RADAR | MOFSL on Jubilant Foodworks
CMP: Rs 1,632 | TP: Rs 1,720,( 5% Upside) | Reco: Buy
Jubilant FoodWorks (JUBI) is one of India’s largest food service Company, with a network of 1,200 Domino’s Pizza restaurants across 271 cities (as of Dec 31, 2018). The Company also has exclusive rights for developing and operating Dunkin’ Donuts restaurants for India and has 32 Dunkin’ Donuts restaurants across 10 cities in India.
The challenge of a high SSSG base eases significantly going forward and JUBI has done well in the face of 20% SSSG base in recent quarters.
With demand stabilizing, discretionary players with strong brands offer high scope for upside, in our view.
We expect over 25% EPS CAGR and improving RoEs over FY20-FY22.
01:44 PM
Top technical picks for 2020 by MOFSL
01:39 PM
BROKERAGE RADAR | Reliance Securities on Mangalam Cement
Mangalam Cement (MGC) is likely to witness healthy traction ahead mainly on account of steady realisation in Northern region and cost synergies.
Notably, commissioning of 11MW WHRS in the last month and recent USA petcoke contract at US$70 (US$77/tonne average cost in 2Q) along with likely improvement in utilisation will lead to meaningful decline in opex in the subsequent quarters.
Further, improved fly-ash availability, new coal mining and improved biomass contribution are expected to aid it’s operating performance.
We forecast EBITDA/tonne at Rs707 and Rs696 for FY20E and FY21E, respectively.
We maintain our fundamental BUY recommendation on the stock with a Target Price of Rs 400.
01:38 PM
BROKERAGE RADAR | Emkay Global Financial Services on SBI Life
We believe SBIL is on the right track given the increased focus on improving product mix toward the high-margin protection segment and taking granular steps toward digitalization. Backed by high operational efficiency, it enjoys the lowest cost ratio of ~10--11% (as % of NEP) among its peers. We expect the company to clock 19.9% APE growth over the next three years, with non-par savings/protection growing 47.2%/42.8% over FY19-FY22E. VNB is expected to see 24.4% CAGR over FY19-FY22E. EV is expected to register 17.5% CAGR over the same period. We maintain Buy rating and OW stance in EAP with a revised TP of Rs 1,100 (earlier Rs 965) at 3.3x Sep’21E EV
01:35 PM
Rupee check
01:33 PM
Breakout year? Steel players hope for demand surge, better prices in 2020
After 2019 saw the domestic market grapple with surge in imports, increased dependence on imported coking coal from select countries, the steel ministry will be focusing on managing availability of iron ore as leases of a clutch of mines are scheduled to expire in March next year. READ MORE
01:29 PM
2019 review :: Rusmik Oza, Sr. VP (Head of Fundamental Research-PCG), Kotak Securities
>> The polarisation seen in CY18 continued in CY19 with only a handful of stocks contributing to the returns in Nifty-50.
>> We expect the divide between Indian equities and economy to continue in CY20 because there may not be a quick recovery in the economy but market may do relatively better on account of strong earnings and favourable tax changes.
>> For 2020, we see valuations attractive in sectors like capital goods, utilities, oil & gas, construction, metals & mining and auto ancillaries.
01:17 PM
Top losers on BSE at this hour
01:07 PM
NEWS ALERT | Govt to invite EoI for Air India in a few weeks: Hardeep Singh Puri
>> Got lot of interest from private players
>> Want an Indian airline to acquire Air India for Strategic reasons
>> Govt reluctant to infuse more funds in AI
>> Next meeting on Alternative Mechanism for AI in few weeks
(As reported by CNBC TV18)
01:03 PM
Pre-budget meet: IT industry seeks 15% corp tax for services cos in SEZs
"What we have suggested is that given that they have reduced the manufacturing corporate tax rate to 15 per cent...the fact that the SEZ sunset is happening, at least for the new services companies in SEZs, if you make it 15 (per cent), then you will have one composite rate in SEZ for both manufacturing and services," Nasscom Senior Director and Public Policy Head Ashish Aggarwal told PTI after the over two-hour meeting. READ MORE
12:55 PM
Sector watch | Telecom shares trade mixed
COMPANY NAME LATEST HIGH LOW CHG
(RS) CHG(%) VALUE
(RS CR) VOLUME
VODAFONE IDEA 6.09 6.25 5.97 -0.06 -0.98 8.29 13615532
REL. COMM. 0.86 0.89 0.83 -0.01 -1.15 0.04 499343
QUADRANT TELE. 0.20 0.20 0.19 0.01 5.26 0.00 101092
BHARTI AIRTEL 461.15 462.45 458.60 0.65 0.14 3.85 83564
TEJAS NETWORKS 94.75 96.95 79.35 6.60 7.49 0.66 69579
12:48 PM
NEWS ALERT | DoT to allocate spectrum for 5G trials by Jan: sources to CNBC TV18
>> Spectrum-to-spectrum allocated for a duration of 1 yr
>> All major vendors, including Huawei, present for meeting with Telecom secy
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