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Closing Bell: Market makes sharp recovery to end higher led by HDFC twins, RIL, Nifty ends above 10,700, TCS caps gains

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Indian shares have ended with gains despite trading largely lower for much of the day on Wednesday. Sustained selling was seen across sectors earlier in the day with overall investor sentiment staying cautious ahead of F&O expiry on Thursday and amid ongoing political uncertainties in the US and global slowdown concerns. The Sensex ended 179 points higher at 35,649, while the Nifty gained 66 points to settle at 10,729. HDFC twins and Reliance Industries, L&T provided major support to the bulls, while Tata Consultancy Services and Infosys dragged. Broader market indices ended mildly lower in the red. Here are the main highlights from the stock markets today:

Closing Bell: Market makes sharp recovery to end higher led by HDFC twins, RIL, Nifty ends above 10,700, TCS caps gains
  • Sensex heatmap at close: Airtel jumps 4%, HDFC 2%, Sun Pharma, Yes Bank down##Sensex heatmap at close: Airtel jumps 4%, HDFC 2%, Sun Pharma, Yes Bank down

    Closing Bell: Market makes sharp recovery to end higher led by HDFC twins, RIL, Nifty ends above 10,700, TCS caps gains
  • Closing Bell: Sensex, Nifty end with gains after volatile day of trade##Closing Bell: Sensex, Nifty end with gains after volatile day of trade


    The Sensex and Nifty ended with gains of more than half a percent after opening in the red and trading lower for the large part of the day. The Sensex gained nearly 180 points, or 0.51 percent, to settle at 35,650, while the Nifty was up by 66 points, or 0.62 percent, to 10,730. The MidCap index ended in the red although the index recovered around 350 points from the day's lows, while Bank Nifty surged over a percent. IT heavyweight stocks TCS and Infosys dragged indexes, while HDFC twins and Reliance Industries supported. 

  • Sensex, Nifty maintain gains ahead of close, Airtel jumps 4.5%##Sensex, Nifty maintain gains ahead of close, Airtel jumps 4.5%


    The Sensex traded nearly 155 points higher, or 0.44 percent up, to 35,635 at 3.15 pm, while the Nifty traded up by nearly 57 points, or 0.53 percent, to 10,720. Midcaps continued to underperform with the Nifty MidCap down by 0.10 percent. Top index gainers include ZEEL, Bharti Airtel, Adani Ports, Bajaj Finserv, UltraTech Cement, HDFC Bank, HDFC, L&T, rising by up to 4.53 percent. Top index losers were Sun Pharma, TCS, Yes Bank, Tata Motors, Cipla and NTPC, falling by up to 2.7 percent.

  • 3M India hits nearly 2-month low amid surge in volumes##3M India hits nearly 2-month low amid surge in volumes

    Shares of 3M India fell nearly 9% today, extending losses for the fourth consecutive session, to hit a nearly two-month low of Rs 19,644 amid surge in volumes. So far today, 16,930 shares of the company have changed hands on the NSE, much lower than its six-month average of 2,355 shares. At 2.50 pm, shares of the company were 4.3% lower at Rs 20,609.95. In the past four sessions, the stock has lost nearly 10%. 

  • Nifty reclaims 10,700, Sensex up 650 points from lows##Nifty reclaims 10,700, Sensex up 650 points from lows

  • Sun Pharma set for worst monthly fall in 18 months##Sun Pharma set for worst monthly fall in 18 months

    Having fallen 15.7% so far this month, shares of Sun Pharmaceutical Industries are set for their worst monthly loss since May 2017. The stock took a beating after a note reportedly by Macquarie and a complaint by a whistleblower to the Securities and Exchange Board of India highlighted severe corporate governance lapses at the company. Despite the management's efforts to assuage investors, the shares took a beating as analysts believe these concerns will offset any potential benefits from launch of specialty generics earlier this year in the US, said analysts. At 2.44 am, shares of Sun Pharmaceutical were down 2% at Rs 415.75. (Cogencis)

  • Nifty Pharma worst performer among sectoral indices December##Nifty Pharma worst performer among sectoral indices December

    The Nifty Pharma index is set to extend its monthly loss and was the worst performer among sectoral indices on NSE in December so far as regulatory concerns continue to weigh on sentiment. The index, which represents 10 major drug companies on the NSE, lost nearly 7% in December so far. Shares of Sun Pharmaceutical Industries, Dr Reddy's Laboratories, Lupin, Cipla, Aurobindo Pharma and Cadila Healthcare fell 3.8-15.2% during the month.

  • Shanthi Gears trades 0.5% lower, Sensex, Nifty recover sharply##Shanthi Gears trades 0.5% lower, Sensex, Nifty recover sharply


    Shares of Shanthi Gears ltd trade lower by almost half a percent at Rs 132.80, after opening at Rs 133.45. The company's board approved a special interim dividend of Rs 5 per share and buyback up to Rs 70 crore at Rs 140 per share. Meanwhile, benchmark indices recovered sharply after trading largely lower through the day. The Sensex surged nearly 58 points, or 0.16 percent, to trade at 35,528 at 1.55 pm, while the Nifty was just below 10,700, trading at 10,693, up by 30 points, or 0.28 percent. Midcaps continue to underperform with the Nifty MidCap down by 0.08 percent. 

  • Ujjivan Financial gains 4% from lows##Ujjivan Financial gains 4% from lows

  • Rajiv Bajaj says company aiming to enter electric vehicle space by 2020##Rajiv Bajaj says company aiming to enter electric vehicle space by 2020

    Bajaj Auto is looking to foray into electric vehicle space by 2020 with two and three wheeler products, said Rajiv Bajaj, managing director of the company, adding that "electric scooters or motorcycles would be an attractive space to be in".

    Bajaj said that the company is aiming at 20-25 percent market share going forward. “We have moved from 15-20 percent and would like to move from 20-25 percent over the next 12 months,” he said.


    Read full report here

  • Nifty 50 on pace to record lowest yearly return ever##Nifty 50 on pace to record lowest yearly return ever

    The benchmark Nifty 50 index is on the verge of registering its lowest return ever for a calendar year in 2018 as concerns over liquidity, consumption growth and politics weighed. The index has so far returned 0.6 percent in 2018 as it gave up its near 11 percent gains between January-August over the course of the past four months due to a liquidity crisis in the non-banking financial services space, following default on payments by Infrastructure Leasing & Financial Services. Moreover, lower-than-expected earnings growth in the first two quarters of the ongoing financial year have also seen investors pare back their estimate for earnings growth of Nifty 50 companies. In addition to this, the uncertainty around global trade, the UK's impending exit from the European Union and global growth have also kept optimism in check. (Cogencis)

  • National Fertilizers shares rally 3 percent after company signs loan agreement with SBI##National Fertilizers shares rally 3 percent after company signs loan agreement with SBI


    National Fertilizers shares rallied 3 percent intraday after the company signed loan agreement with country's largest lender State Bank of India. On December 24, the fertiliser maker has signed rupee loan agreement with SBI for an amount of Rs 1,044 crore. Hence, NFL has achieved financial closure for its energy reduction schemes at Panipat, Nangal and Bathinda projects and other capex at various units with total project cost of Rs 1,160 crore.

  • Vadilal Industries tanks 14% on audit panel-board conflict##Vadilal Industries tanks 14% on audit panel-board conflict

    Shares of Vadilal Industries fell over 14% to hit their one-month low of Rs 455.55 as the audit committee of the company and its board were unable to reconcile on "certain matters" following a limited review of July-September earnings, the company said. Earlier, the board members had approved the financial results for the quarter ended September 30, but the company said "the earnings were yet to subjected to limited review by the Statutory Auditors". Unable to find a common ground, the board did not discuss the limited review report of Jul-Sep financial results at its meeting on December 24, the company said. The stock has fallen for four straight sessions, sinking 20% during the period. On the NSE, 183,064 shares of the company changed hands, significantly higher than their six-month average daily volumes. (Cogencis)

  • Autoline Industries shares spike on Pune land sale to reduce debt##Autoline Industries shares spike on Pune land sale to reduce debt

    Autoline Industries shares rallied 8.8 percent intraday after the company decided to sell land & building in Chakan unit in Pune to reduce debt burden.

    "To achieve the operational efficiency, cost reduction and reduce the debt, the company has taken one more major step by way of consolidating one of its manufacturing facility situated at Mhalunge, Pune to its Chakan units situated at Pune," the auto ancillary company said in its filing.

  • Maruti Suzuki falls over 1% after it recalls 5,900 vehicles##Maruti Suzuki falls over 1% after it recalls 5,900 vehicles

    Shares of Maruti Suzuki dropped over 1 percent intraday on December 26 after the company said it is recalling 5,900 Super Carry vehicles over a possible defect in the fuel filter. The stock dropped as much as 1.4 percent, quoting at Rs 7,406. The company said it is recalling 5,900 vehicles of its mini truck model Super Carry, manufactured between  April 26 2018 and August 1 2018.


    "Starting December 26, 2018 owners of the suspected vehicles will be contacted by Maruti Suzuki dealers for inspection and replacement of the faulty part free of cost," the company said in a statement.

    Shares of Maruti Suzuki traded at Rs 7,462.45, down by 0.89 percent on the NSE at 11.08 am. The Nifty traded below 10,600.

  • Here's what Bajaj Auto's Rajiv Bajaj has to say on auto sector##Here's what Bajaj Auto's Rajiv Bajaj has to say on auto sector

  • Indian market will outperform global markets on back of oil tailwind, says Ananth Narayan##Indian market will outperform global markets on back of oil tailwind, says Ananth Narayan


    Ananth Narayan, professor at SPJIMR, spoke to CNBC-TV18 about the impact of global selloff on the Indian markets. According to Narayan, "Even though the global set up looks grim there is a silver lining for Indian market because the Brent crude oil is around USD 50/bbl, which is a huge macro positive and if it continues to trade at these levels then the current account deficit would be around USD 40-45 billion for India."


    Read and watch full report here

  • Market update: Sensex falls over 400 points, Nifty below 10,600, Yes Bank, Indiabulls Housing Fin fall over 3%##Market update: Sensex falls over 400 points, Nifty below 10,600, Yes Bank, Indiabulls Housing Fin fall over 3%


    The Sensex dipped more than 400 points, or 1.15 percent, to 35,062.99 at 10.30 am, while the Nifty declined by 117 points, or 1.10 percent, to 10,546.35. The Nifty MidCap fell 1.70 percent, while the BSE MidCap dropped by 1.5 percent. Among top gainers, ZEEL surged nearly 3 percent, while other gainers included Adani Ports, HPCL, IOC, BPCL, rising by up to nearly a percent. Yes Bank shares dipped more than 3.5 percent, Indiabulls Housing Finance also shed 3 percent. Sun Pharma, Tata Motors and Bajaj Finance fell between 2.12 and 2.76 percent. Wipro fell over 2 percent and IndusInd Bank shed 1.95 percent.

  • Banks fall sharply on likely unwinding of bullish bets##Banks fall sharply on likely unwinding of bullish bets

    Shares of banks were the biggest drag on benchmark equity indices as traders likely unwound their long positions in these stocks ahead of the expiry of the December derivative series on Thursday, Cogencis reported. Brokerage firm ICICIdirect.com said the sector was vulnerable to a sharp fall as traders may liquidate their long positions, given significantly high open interest, the agency said. The fall may also be a function of some foreign institutional investors booking profits ahead of the closure of their accounting year on December 31, Cogencis quoted a dealer as saying. At 10.28 am, the Nifty Bank index was down 1.08% at 26,426 points. 

  • Hindustan Unilever shares fall 2% after NAA imposes penalty of Rs 383 crore##Hindustan Unilever shares fall 2% after NAA imposes penalty of Rs 383 crore


    Shares of Hindustan Unilever were down around 2 percent as investors reacted to a penalty being imposed on the company. The National Anti-Profiteering Authority (NAA) has slapped a hefty penalty of Rs 383 crore on consumer goods major Hindustan Unilever Ltd (HUL) on the ground of not passing benefits of GST rate cuts to consumers.

  • Oil marketing companies higher in opening trade as crude falls##Oil marketing companies higher in opening trade as crude falls

  • HUL opens lower after National Anti-profiteering Authority imposes a fine of over Rs 500 crore##HUL opens lower after National Anti-profiteering Authority imposes a fine of over Rs 500 crore

  • Opening Bell: Sensex, Nifty open lower on weak global cues, HUL sheds 2%##Opening Bell: Sensex, Nifty open lower on weak global cues, HUL sheds 2%

    The Nifty opened just above 10,600, dipping more than 55 points, or 0.52 percent, at 10,608, while the Sensex plunged 186 points, or 0.52 percent, to start at 35,284. The Nifty MidCap fell in tandem with frontline indexes, slipping by 0.57 percent. The BSE MidCap lost 0.70 percent. The Nifty Bank fell half a percent. Index heavyweight Hindustan Unilever slipped by more than 2 percent, while Hindalco, Sun Pharma, Gail, Infosys slipped by up to 1.4 percent. Public sector oil marketing companies HPCL, BPCL and IOC gained by up to 1.16 percent. Other gainers were Adani Ports and Coal India.

  • Rupee opens at 69.88 against the US dollar##Rupee opens at 69.88 against the US dollar

    The rupee opened on a stronger note on Wednesday at 69.88 against the US dollar. The home currency had closed at 70.13 against the greenback on Monday.

  • SBI seen up; seeks bids from bks for Rs 200 billion QIP##SBI seen up; seeks bids from bks for Rs 200 billion QIP

    Shares of State Bank of India may gain today as the lender has reportedly invited bids from investment bankers to run its qualified institutional placement of shares, through which it plans to raise up to Rs 200 billion. In June 2017, SBI had raised 150 bln rupees through India's largest-ever QIP issue. On Monday, shares of SBI ended 0.4 percent higher at Rs 293.05. 

  • Movers & Shakers: 10 stocks that gained or fell the most in 2018 based on news flow##Movers & Shakers: 10 stocks that gained or fell the most in 2018 based on news flow

    Jubilant FoodWorks, Tata Consultancy Services and Infosys are among the top 10 major movers (stocks) in 2018. Shares of these firms rose up to 48 percent.


    Read full report here

  • Top stocks to watch out for on December 26: SBI, Vedanta, IndiGo##Top stocks to watch out for on December 26: SBI, Vedanta, IndiGo


    SBI: State Bank of India (SBI) Managing Director P K Gupta said that the charges for various services offered by the bank are among the lowest in the industry. Various services offered by the bank, including ATM transaction and cash deposits, come at a cost, but the charges have been kept low in the larger interest of customers, Gupta told PTI.

    Vedanta: Vedanta Group, which is looking to invest $8 billion across businesses in next three years, is considering expansion of the capacity of its newly acquired Electrosteel Steels unit in Jharkhand to about seven million tonnes in phases in the next few years, an official said on Tuesday.

    Interglobe Aviation: Budget carrier IndiGo is likely to induct its first long-range jet A321neo (new engine option) in its fleet on Saturday, after a delay of almost one month, which will pave the way for the airline to launch its much-awaited medium-haul international operations, a source said on Tuesday.


    Check out more hot stocks today

  • Here's the list of stocks that are in focus going into trade today##Here's the list of stocks that are in focus going into trade today

  • Here’s what brokerages are saying on Siemens, Lupin, Brigade Enterprises##Here’s what brokerages are saying on Siemens, Lupin, Brigade Enterprises

    Motilal Oswal on Brigade Enterprises:
    Company appears all set for a tactical shift in its portfolio.
    Company aims to add 4 msf of leasable area over next 5 years.
    Expect a leasing income CAGR of 27% over FY18-22.
    Expect EBITDA to increase to Rs 106.8 crore by FY21 from Rs 58.9 crore in FY18. 
    Expect company to sell a cumulative 7.8 msf over FY19-21 for a value of Rs 4,100 crore.
    Initiate coverage with a BUY call, target at Rs 282 per share.

    Antique on Siemens:
    Delivered the highest sales growth among peers during upcycles.
    Company amongst the best stocks during the uptick in capex.
    Have one of the most broad-based PDT portfolios among engineering companies. 
    It will benefit from the outsourcing from parent Siemens AG.
    Expect new orders to grow at a CAGR of 14% over FY17-20.
    Expect revenue and earnings CAGR of 12% and 22% respectively.
    Company is amongst the best plays on recovery.
    Maintains BUY call, target at Rs 1,370 per share.

    PhillipCap on Lupin:
    AbbVie deal is futuristic and no impact on financials in visible future.
    MALT-1 inhibitor could be a competitive molecule.
    Q3FY19 earnings to remain weak.
    Estimate 22% YoY decline in earnings. 
    Growth challenges in US on price erosion and competition a concern.
    Key plants under warning letter and impact approval rate for near future.
    Reiterates SELL call, target at Rs 670 per share.

  • Vedanta considers expanding Electrosteels' capacity to 7 mtpa in few years##Vedanta considers expanding Electrosteels' capacity to 7 mtpa in few years


    Vedanta Group, which is looking to invest $8 billion across businesses in next three years, is considering expansion of the capacity of its newly acquired Electrosteel Steels unit in Jharkhand to about seven million tonnes in phases in the next few years, an official said on Tuesday.

    Read full report here