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Stock Market Highlights: Market ends higher, Nifty closes above 12,870; Tata twins surge over 6%

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Stock Market Highlights: Market ends higher, Nifty closes above 12,870; Tata twins surge over 6%

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Stock Market Highlights: Indian indices closed higher on Tuesday tracking global peers over news of another promising coronavirus vaccine lifted hopes. The Sensex closed 315 points higher to 43,952.71 while the Nifty50 index settled at 12,874.20, up 94 points. Tata Motors and Tata Steel remained the top contributors to the Nifty50 index. 

Stock Market Highlights: Market ends higher, Nifty closes above 12,870; Tata twins surge over 6%
  • Closing Bell: Sensex, Nifty end at record close led by banks, metal stocks; Tata Steel up 6%

    Indian shares ended at record closing highs on Tuesday after a long weekend, following gains in Asian peers, as news of another promising coronavirus vaccine lifted hopes.

    Investor sentiment was given a boost when US drugmaker Moderna said its experimental COVID-19 vaccine was 94.5 percent effective in preventing infection.

    The Sensex rose 315 points to end at a new closing high of 43,952.7 while the Nifty was up 94 points to settle at a record close of 12,874. In intraday deals as well, the benchmarks hit new highs. The Sensex surged as much as 523 points to its new all-time high of 44,161 while the Nifty rallied 154 points to its fresh high of 12,934.

    Markets had eked out modest gains in a one-hour special “muhurat” trading session for Diwali on Saturday and were closed on Monday.

    On the Nifty50 index, Tata Motors, Tata Steel, HDFC Life, SBI and Adani Ports were the top gainers while BPCL, Hero Moto, NTPC, IOC and ONGC led the losses.

    Broader markets were also positive for the day with the Nifty Midcap index hitting its 52-week high, up over 1 percent and the Nifty Smallcap index up 0.3 percent.

    Among sectors, Nifty Metal rose the most, up 2.3 percent while Nifty Bank and Nifty Fin Services were up around 2 percent each. Nifty Auto also added 1 percent. However, the FMCG, IT, and pharma indices ended in the red for the day.

  • CARE affirms Asahi Songwon credit rating at AA- with stable outlook: CARE Ratings has reviewed the ratings on the bank facilities of the Company and reaffirmed that rating for the Long-Term Bank Facilities, Long-Term/Short-Term Bank Facilities and Short-Term Bank Facilities.

  • Goldman Sachs revises #India’s FY21 GDP target, now expects 10.3% contraction Vs earlier forecast of 14.8% contraction. It sees GDP growth rebounding to 13% in FY22.

  • Continue to like real estate; underweight on consumer staples, says Mirae’s Rahul Chadha


    Rahul Chadha, CIO of Mirae Asset Global Investments Hong Kong in an interview with CNBC-TV18 said that he continues to like the real estate space but is underweight on consumer staples. “Real estate is a sector which has been most attractive in the last 20 years and with reflation coming through, should benefit the sector. We have seen consolidation post-GST, demonetization, etc. We continue to like IT as well,” he said. He further said that he expects cyclical, metals and materials stocks to do well as the Indian economy recovers. He also expects broader markets to catch up with frontline indices. For more, watch video

  • October MF trends: Private banks' weightage recovers, IT scales another new high

    Equity mutual funds witnessed outflow for the fourth consecutive month in October with investors moving out Rs 2,725 crore compared to an outflow of Rs 734 crore in September, the AMFI data showed. Investors continued to book profit at every higher level. The month witnessed notable changes in the sector and stock allocation of funds, brokerage house Motilal Oswal noted in a recent report. After hitting a 29-month low in September, private banks saw a positive interest among MFs in October and its weight was up 160 bps MoM to 17.4 percent. It continued to remain the top sector holding for MFs for the second consecutive month in October.

    Among other sectors, technology's weight continues to scale new highs as the weight increased 20 bps MoM to 11.8 percent. It was the second-best sectoral holding among MFs. Meanwhile, the consumer sector's weight moderated for the fifth consecutive month to 8.3 percent, down 40 bps MoM. More here

  • Vodafone Idea shares up 10% on reports of tariff hike in near term

    The share price of Vodafone Idea jumped 10 percent on reports that the firm is considering a tariff hike by the end of this year or by early 2021.

    As per reports, Vodafone Idea or Vi is planning to increase its tariffs by 15-20 percent by the end of 2020 or early 2021 to increase revenue.

    Vi lost 8 million users in the July-September quarter while Airtel added 14 million and Jio 7 million.

    In Q2, Vodafone Idea's net loss narrowed to Rs 7,218.2 crore from Rs 50,897.9 crore in the same quarter of the previous fiscal. The average revenue per user (ARPU) increased to Rs 119 from Rs 107 in Q2FY20 and Rs 114 in Q1FY21.

    "Q2 results suggest the company continues to lose market share. The company’s revenue market share is expected to fall to 20 percent by FY23 from 28 percent in FY20," Goldman Sachs said in a review report. Here's more on this

  • Jyoti Roy - DVP- Equity Strategist, Angel Broking: As per various media reports the government has received bids from several companies for buying the Government’s 52.98% stake in Bharat Petroleum Corp. Ltd (BPCL). The last date for submission of expression of interest (EoI) was on the 16th of November. The deadline had been extended multiple times by the Government due to the outbreak of the Covid-19 pandemic. This marks the end of the first phase of BPCL divestment by the Government. 

    As per process the Government will now scrutinize the EOIs post which qualifying bidders will be asked to submit their financial bids for BPCL. Successful closure of BPCL stake sale in the current financial year is very critical for the Government given the ballooning fiscal deficit which is expected to overshoot the budget estimate by a wide margin, said Roy.

  • Industrial investments back to FY20 level; overweight on L&T, ABB and Voltas: Credit Suisse

    Credit Suisse said that the industrial investments are showing signs of recovery as per its short cycle index. The industrial investments were down 7 percent in Q2FY21, but now are almost back to FY20 levels, it said.

    The brokerage is of the view that Q2FY21 reflects that there has been no lasting damage.

    Within the capital good space, Credit Suisse has retained its Overweight stance on Larsen and Toubro (L&T), ABB and Voltas. Click here to watch the video

  • Interglobe Aviation

  • RIL shares flat after 4% opening boost; Reliance Retail buys 96% stake in Urban Ladder

    Reliance Industries Ltd (RIL) shares jumped over 4 percent in Tuesday's opening trade after the conglomerate's retail arm bought a majority stake in Urban Ladder Home Decor Solutions. However, the stock price soon eased from opening highs and traded nearly flat as the broader market got off-highs.

    RIL shares opened with a gain of 4.1 percent at Rs 2,084.00 apiece on the BSE. The stock was trading 0.09 percent lower at Rs 2,000.00 as against a 0.20 percent gain in the benchmark Sensex.

    Reliance Retail Ventures Ltd (RRVL), a subsidiary of Reliance Industries Ltd (RIL) has acquired equity shares of Urban Ladder Home Decor Solutions Private Ltd (UrbanLadder) for a cash consideration of Rs 182.12 crore. The investment represents 96 percent holding in the equity share capital of UrbanLadder.

    RRVL has a further option of acquiring the balance stake, taking its shareholding to 100 percent of the equity share capital of UrbanLadder, the company said. Click here to know more

  • Tata Steel shares jump 7% to hit 52-week high after Q2 earnings

    The share price of Tata Steel jumped over 7 percent on Tuesday to hit a 52-week high of Rs 529.50 as brokerages maintained bullish view on the stock after the company reported its September quarter earnings.

    Tata Steel reported a 59.6 percent year-on-year (YoY) fall in Q2FY21 profit at Rs 1,635.4 crore, against Rs 4,043.5 crore in the corresponding quarter a year ago. Total revenue from operations, however, rose 7.4 percent to Rs 37,154 crore from Rs 34,759 crore, YoY.

    Operational performance during the quarter improved as EBITDA increased 59.7 percent to Rs 6,217 crore from Rs 3,893 crore and EBITDA margin expanded to 16.7 percent from 11.3 percent, YoY. Read more

  • India's exports dip 5.12% in October: India's exports fell 5.12 percent to $24.89 billion in October, after recording positive growth in September, on account of drop in shipments of petroleum products, gems and jewellery, leather and engineering goods, according to government data released on November 13. Trade deficit in October narrowed to $8.71 billion as against $11.75 billion in the corresponding month a year ago.

    Imports also fell 11.53 percent to $33.6 billion (year-on-year) in October 2020. Major export commodities that recorded negative growth in October included petroleum products (52 percent), cashew (21.57 percent), gems and jewellery (21.27 percent), leather (16.67 percent), man-made yarn/fabrics/made-ups (12.8 percent), electronic goods (9.4 percent), coffee (9.2 percent), marine products (8 percent) and engineering goods (3.75 percent). (Source:Moneycontrol)

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  • Tata Steel shares jump 7% to hit 52-week high after Q2 earnings


    The share price of Tata Steel jumped over 7 percent on Tuesday to hit a 52-week high of Rs 529.50 as brokerages maintained bullish view on the stock after the company reported its September quarter earnings. Tata Steel reported a 59.6 percent year-on-year (YoY) fall in Q2FY21 profit at Rs 1,635.4 crore, against Rs 4,043.5 crore in the corresponding quarter a year ago. Total revenue from operations, however, rose 7.4 percent to Rs 37,154 crore from Rs 34,759 crore, YoY. Operational performance during the quarter improved as EBITDA increased 59.7 percent to Rs 6,217 crore from Rs 3,893 crore and EBITDA margin expanded to 16.7 percent from 11.3 percent, YoY.

  • Adani submits last minute bid for DHFL

  • Positive momentum in PV sales; 2-wheelers yet to pick up: Sources

    The passenger vehicle (PV) sales saw positive momentum during Diwali, but two wheeler sales, especially entry level motorcycles are yet to see a pick up. PV sales between Dhanteras to Diwali are matching last year's sales during this period, according to auto industry sources. The 100 cc segment for two-wheelers did not see a demand pick up during the last 5 days, and sales in the 2-wheeler segment continue to be a challenge, sources said. Some 2-wheeler makers have increased discounts to reduce the inventory of unsold stock. Watch video for more

  • Mahindra & Mahindra | The company said that its Zaheerabad plant in Telangana will be hub for new K2 Tractor series. It said that K2 will bring incremental investments of Rs 100 crore and double the employment in the tractor plant at Zaheerabad by 2024

  • Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel Broking

    Any dip towards 12,600 – 12,450 should be used as a buying opportunity. On the upside, the next milestone of 13,000 is likely to be achieved very soon; in fact, we do not rule out the possibility of reaching 13,100 – 13,200 in this week itself.

    Traders are advised not to expect any meaningful correction in the near future and hence, do not venture into taking contradictory bets in such a strong Bull Run. We are sounding extremely optimistic because almost all major sectors are contributing to this surge and hence, can be considered a robust one. The broader market has also started to give some mesmerizing moves and mind you, this is just a beginning of the mega Bull Run.

  • DHFL insolvency: Piramal protests against Adani's surprise proposal to bid for entire company


    Piramal Enterprises on Friday has asked the Committee of Creditors (CoC) to reject Adani Properties' proposal to bid for the entire portfolio of the troubled non-banking finance company Dewan Housing Finance Corporation (DHFL) or it would withdraw from the process, sources privy to the developments told CNBC-TV18. This comes after Adani Properties, in a letter to the CoC, said it intends to revise its bid for DHFL, and bid for the entire portfolio instead of just the wholesale and SRA assets, according to multiple people familiar with the development said. Adani Properties is believed to have proposed that it would offer more than Oaktree Capital, which is currently the sole bidder for the entire book with an offer of Rs 31,000 crore, said people familiar with the matter.

  • Gland Pharma IPO: Here’s how to check share allotment status
    The initial public offer (IPO) of Hyderabad-based injectable-focused Gland Pharma was open for subscription between November 9-11.Get latest Market online at cnbctv18.com
    Stock Market Highlights: Market ends higher, Nifty closes above 12,870; Tata twins surge over 6%
  • Airbnb IPO filing shows third-quarter earnings beating virus with cost cuts, new focus


    Airbnb Inc's initial public offering (IPO) registration showed on Monday that the home rental startup turned a profit in the third quarter despite the COVID-19 pandemic, as it gears up for one of the most anticipated stock market debuts in recent years. The filing, published ahead of Airbnb's anticipated stock market debut in December, showed a dramatic recovery in its fortunes, after the coronavirus outbreak dragged down its core home rental business during the first half of the year. Airbnb's revenue fell 18 percent in the third quarter to $1.34 billion from a year earlier, but it reported net profit of about $219 million, helped mainly by a clamp-down on costs. Its business took a bigger hit internationally than in the United States, reflecting the financial fallout of extensive lockdowns in Europe to contain the spread of the virus. More here

  • BPCL shares slip 5% as RIL, Saudi Aramco skip the stake sale race

    The share price of BPCL slipped on Tuesday as Reliance Industries as well as supermajors Saudi Aramco, BP and Total did not make any bid in the stake sale. The stock fell as much as 5 percent to Rs 392.10 apiece on the NSE. Finance Minister in a tweet said, "Strategic disinvestment of BPCL now moves to the second stage after multiple expressions of interest have been received." However, the numbers of bids received or the names of the bidders have not been disclosed. Separately, four industry officials said 3-4 bids have been put in. The government will sell a 53 percent stake in the oil marketing company.

  • Here's the list of movers and shakers from last Samvat to this Samvat

    The markets ended Samvat 2076 on a positive note. The Nifty and the Sensex gained close to a quarter of a percent higher.Get latest Market online at cnbctv18.com
    Stock Market Highlights: Market ends higher, Nifty closes above 12,870; Tata twins surge over 6%
  • J&J starts two-dose trial of its COVID-19 vaccine candidate

    Johnson & Johnson launched a new large-scale late-stage trial on Monday to test a two-dose regimen of its experimental COVID-19 vaccine and evaluate potential incremental benefits for the duration of protection with a second dose. The US drugmaker plans to enroll up to 30,000 participants for the study and run it in parallel with a one-dose trial with as many as 60,000 volunteers that began in September. The UK arm of the study is aiming to recruit 6,000 participants and the rest will join from other countries with a high incidence of COVID-19 cases such as the United States, Belgium, Colombia, France, Germany, the Philippines, South Africa, and Spain, it said.

  • BPCL gets multiple bids; no supermajor in race


    The government on Monday received 'multiple' bids for buying out its stake in India's second-biggest fuel retailer BPCL but billionaire Mukesh Ambani's Reliance Industries as well as supermajors Saudi Aramco, BP and Total did not make a bid. Tuhin Kanta Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM), which is handling the strategic sale, tweeted that the transaction advisors for the sale of government's 52.98 percent stake in Bharat Petroleum Corp Ltd (BPCL) have reported receiving "multiple expressions of interest." expressions of interest." "The transaction will move to the second stage after scrutiny by TA," he said. TA stands for a transaction advisor. "Strategic disinvestment of BPCL progresses: Now moves to the second stage after multiple expressions of interest have been received," Finance Minister Nirmala Sitharaman also tweeted.

  • Opening Bell: Sensex, Nifty open at record high on vaccine hopes; RIL up 2%

    Indian indices opened at a record high on Tuesday, tracking global peers, as news of another promising coronavirus vaccine lifted hopes. Investor sentiment was given a boost when Moderna said its experimental COVID-19 vaccine was 94.5 percent effective in preventing infection based on interim late-state data. The Sensex rose 458 points to new high of 44,096 while the Nifty rose 154 points to 12,934. Back home gains were led by heavyweights RIL and financials. Broader markets were also higher with the Nifty Midcap and Nifty Smallcap indices up 0.5 percent and 0.4 percent, respectively. All sectors were also in the green. The Nifty Metal surged the most, up over 1 percent while the Nifty Bank and Fin Servcies indices were up 0.8 percent each. 

  • Oil prices edge higher ahead of OPEC+ meeting, vaccine hopes


    Oil prices edged higher on Tuesday on expectations OPEC and its allies will extend oil production cuts for at least three months, while sentiment was bolstered by news of another promising coronavirus vaccine. Brent crude futures for January rose 16 cents, or 0.4 percent, to $43.98 a barrel and U.S. West Texas Intermediate crude for December added 13 cents, or 0.3 percent, to $41.47 a barrel. Equity markets rose on hopes of a quicker economic recovery after Moderna Inc said its experimental COVID-19 vaccine was 94.5 percent effective in preventing infection based on interim late-state data. This comes after Pfizer reported last week that its vaccine was more than 90 percent effective.

  • 10 things you need to know before the opening bell on November 17

    The Indian market is likely to open at a record level on Tuesday as hopes of a COVID-19 vaccine boosted investor sentiment, lifting global markets. At 7:10 am, the SGX Nifty was trading 42.00 points…
    Stock Market Highlights: Market ends higher, Nifty closes above 12,870; Tata twins surge over 6%
Stock Market Highlights: Indian indices closed higher on Tuesday tracking global peers over news of another promising coronavirus vaccine lifted hopes. The Sensex closed 315 points higher to 43,952.71 while the Nifty50 index settled at 12,874.20, up 94 points. Tata Motors and Tata Steel remained the top contributors to the Nifty50 index.

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