First Published: IST
Indian shares ended higher after a largely rangebound trade, buoyed by sustained buying in most sectors barring IT and metals. Benchmark indexes started mildly higher on Wednesday, tracking positive global cues as crude oil prices plunged. The Sensex settled near 36,500, jumping more than 135 points, while the Nifty50 ended above 10,950 mark. Broader markets outperformed frontline indexes, with the Nifty MidCap surging more than 1.25 percent. Infosys and HDFC Bank capped gains, while support came from HDFC, ITC, Axis Bank, ICICI Bank, SBI. Here are the main highlights from the stock markets today:
Sensex heatmap at close: Asian Paints, Axis Bank gain over 3%, Sun Pharma down 2%##Sensex heatmap at close: Asian Paints, Axis Bank gain over 3%, Sun Pharma down 2%
Closing Bell: Sensex, Nifty settle higher, Indiabulls Housing Fin gains 8%##Closing Bell: Sensex, Nifty settle higher, Indiabulls Housing Fin gains 8%
The Sensex gained 137 points, or 0.38 percent, to end at 36,484, while the Nifty settled at 10,967, rising 58 points, or 0.54 percent. Midcaps outperform frontline indexes with the Nifty MidCap settling 1.29 percent higher. The BSE MidCap also ended 1.5 percent up. Indiabulls Housing Finance, Bajaj Finserv, Axis Bank, Bharti Infratel, Asian Paints, SBI, Maruti Suzuki, Bharti Airtel, rose by up to 8.12 percent. HCL Technologies, Sun Pharma, Infosys, IndusInd Bank, Tata Consultancy Services, Vedanta, dipping by up to 2.85 percent.
Quick Heal Technologies hits over 12%, gains 26% in last 7 days##Quick Heal Technologies hits over 12%, gains 26% in last 7 days
Shares of Quick Heal Technologies surged more than 12 percent to hit an intra-day high of Rs 235.40 on Wednesday, outperforming the sector by nearly 10 percent. The smallcap IT share has gained more than 26 percent for the last 7 days. At 2:41 pm, Quick Heal Tech shares were trading at Rs 227.20, higher by 8.22 percent on the NSE. As many as 12,79,629 shares traded on the 50-share NSE index.
Tata Tele Mah up as NCLT OKs merger with Bharti Airtel##Tata Tele Mah up as NCLT OKs merger with Bharti Airtel
Shares of Tata Teleservices Maharashtra surged 19 percent today to hit a one-month high of Rs 4.60 after National Company Law Tribunal approved its merger with Bharti Airtel. So far today, nearly 7 million shares of the company have changed hands on the NSE, higher than the daily average of 1.9 million shares. At 2.25 am, shares of the company were 10.4 percent higher at Rs 4.25.
Mishra Dhatu up 6% as Rs 6 billion order finalised##Mishra Dhatu up 6% as Rs 6 billion order finalised
Shares of Mishra Dhatu Nigam were up 6 percent at a one-month high of Rs 128.15, as the company is set to sign an order worth Rs 6 billion. On NSE, 531,454 shares of the company have been traded so far, above the one-month, three-month, and six-month daily average volumes. At 2.12 pm, shares of Mishra Dhatu Nigam were up 2.32 percent at Rs 123.90. Meanwhile, the Nifty50 was trading higher by 60 points, or 0.55 percent, at 10,969, while the Sensex surged 170 points, or 0.47 percent, to 36,517.
Piramal Enterprises up, to mull raising Rs 30 billion##Piramal Enterprises up, to mull raising Rs 30 billion
Shares of Piramal Enterprises gained nearly 6 percent ahead of the company's board meeting on Friday to consider raising up to Rs 30 billion through non-convertible debentures. The issue has a base size of Rs 10 billion and greenshoe option of Rs 20 billion. So far today, 551,231 shares of the company changed hands on NSE, three-fold of the daily average volume of 156,081 shares. At 1.16 pm, shares of the company traded up 3.84 percent at Rs 2,262.85.
Market trading at the high point of the day##Market trading at the high point of the day
Crude is the biggest tailwind for Indian equities, says Saurabh Mukherjea##Crude is the biggest tailwind for Indian equities, says Saurabh Mukherjea
Crude is the biggest tailwind for Indian equity market, according to Saurabh Mukherjea, founder of Marcellus Investment Managers. US oil prices rose on Wednesday to claw back part of their more than 5 percent losses from the previous session, with worries about oversupply and a slowing global economy keeping markets under pressure.
Reliance Naval down as Bombay high court rejects plea on vessel deal##Reliance Naval down as Bombay high court rejects plea on vessel deal
Shares of Reliance Naval and Engineering fell 6% today after Bombay High Court rejected the company's plea with respect to termination of contract for offshore vessels by Oil & Natural Gas Corp. In 2009, ONGC had awarded the contract for construction of 12 offshore vessels to Pipavav Shipyard, which was to be completed by December 2011. Pipavav Shipyard was later taken over by Reliance Naval and on request by the latter, ONGC had extended the contract completion period several times, with the last extension being up to May 31, 2018. Shares of the company were 4.6 percent lower at Rs 14.45.
Market update: Sensex, Nifty sustain gains, IT shares under pressure as rupee gains##Market update: Sensex, Nifty sustain gains, IT shares under pressure as rupee gains
The 30-share BSE Sensex traded nearly 85 points higher at 36,431 at 11.55 am, while the Nifty50 was trading at 10,949, rising 40.50 points, or 0.37 percent. Broader markets outperformed frontline indices with the Nifty MidCap trading higher by 1.15 percent. The BSE MidCap jumped 1.26 percent. As many as 38 sectoral indices advanced led by BSE Realty, Nifty Realty, Nifty PSU Bank, BSE Basic Metal and Nifty FMCG. BSE Realty rose by 2.26 percent. Trading lower by 1.59 percent, Nifty IT was the weakest among 5 declining sectors. BSE IT, BSE Teck, Nifty Media and Nifty Metal were other laggards. Top index gainers included Indiabulls Housing Finance, Bajaj Finserv, Bajaj Finance, Asian Paints, UltraTech Cement, Asian Paints, Axis Bank, SBI, Maruti Suzuki and M&M, rising by up to 6.8 percent. Shares of HCL Technologies, Infosys, Tech Mahindra, Sun Pharma, Tata Consultancy Services, Vedanta and Kotak Mahindra Bank, dipped by up to 2.43 percent.
Karnataka Bank hits 1-month high on Paisabazaar tie-up##Karnataka Bank hits 1-month high on Paisabazaar tie-up
Shares of Karnataka Bank rose 2 percent to a one-month high of Rs 112 after the company announced a strategic partnership with Paisabazaar.com for financial products. Through this partnership, consumers will be able to choose and apply for a home loan from Karnataka Bank directly through the Paisabazaar platform. At 11.43 am, Karnataka Bank shares were up 0.86 percent at Rs 111.10. So far in 2018, the stock has fallen 27 percent. Meanwhile, the Nifty traded at 10,948, up by nearly 40 points, or 0.36 percent. The Sensex was higher by 95 points, or 0.26 percent, to 36,442.
MIRC Electronics up on buzz Rakesh Jhunjhunwala may buy stake##MIRC Electronics up on buzz Rakesh Jhunjhunwala may buy stake
Shares of MIRC Electronics surged 13 percent to a three-month high of Rs 31.45 on buzz that marquee investor Rakesh Jhunjhunwala may acquire stake in the company. The stock rose 20 percent on Tuesday after Jhunjhunwala attended the company's investor meet, which led to speculation of buy stake. So far today, 2.05 million shares of the company have changed hands on NSE, against the daily average of 499,644 shares. At 11.12 am, shares of the company were up 4.32 percent at Rs 29.
IOC, BPCL, HPCL up 1% each as crude oil prices fall 7%##IOC, BPCL, HPCL up 1% each as crude oil prices fall 7%
Shares of state-owned oil refiners extended their gains from the previous session as global crude oil prices fell 7 percent to their 14-month lows on Tuesday.
J Kumar Infraprojects soars 11% on order win from NHAI, Sensex, Nifty edge higher##J Kumar Infraprojects soars 11% on order win from NHAI, Sensex, Nifty edge higher
Shares of J. Kumar Infraprojects surged over 11 percent to hit their one-month high of Rs 152.10 after the company said it has received an engineering, procurement and construction order worth Rs 13.49 billion in Delhi from the National Highways Authority of India. The project is for construction of the Dwarka Expressway from the Shiv Murti intersection of National Highway-8 till the railway underbridge near Dwarka Sector-21. So far today, nearly 1 million shares of the company have changed hands on NSE, much higher than its six-month daily average of 130,656 shares. Meanwhile, benchmark indexes extended gains. The Sensex traded at 36,474, higher by 127 points, or 0.35 percent at 10.16 am, while the Nifty was trading at 10,956, up by 47 points, or 0.44 percent.
Commercial Engineers hits 5% upper cap on railway order##Commercial Engineers hits 5% upper cap on railway order
Shares of Commercial Engineers & Body Builders Co. hit their 5% upper circuit at 24.85 rupees, which is also their 52-week high, after the company said it has received a contract worth Rs 1.52 billion from the railway ministry. The company has received the order to supply wagons to carry coal, steel, and stones, among others. So far in 2018, the stock has gained as much as 29%. (Cogencis)
IT stocks slip as rupee gains past 70/$, OMCs among top gainers##IT stocks slip as rupee gains past 70/$, OMCs among top gainers
Opening Bell: Sensex, Nifty open in the green, OMCs, paint stocks gain##Opening Bell: Sensex, Nifty open in the green, OMCs, paint stocks gain
The Sensex jumped nearly 83 points, or 0.23 percent, to 36,429, while the Nifty50 gained 29 points, or 0.27 perecnt, to 10,937. The Nifty MidCap also surged more than half a percent, while the banking index, Nifty Bank spiked 0.42 percent. Benchmark indices gained on positive global cues as crude oil prices plunged. HPCL, Indiabulls Housing Finance, Asian Paints, BPCL and IOC surged by up to 2.57 percent. Infosys, HCL Technologies, Tech Mahindra, Tata Consultancy Services, Vedanta, dipped by up to nearly a percent.
Rupee opens stronger at 70.10 against the US dollar, Sensex, Nifty set for higher opening##Rupee opens stronger at 70.10 against the US dollar, Sensex, Nifty set for higher opening
The rupee opened stronger at 70.10 against the US dollar on Wednesday, up 34 paise from Tuesday's close of 70.44. The rupee further gained past 70 mark against the greenback for the first time since December 3. Also, the 10-year government bond yield opened at 7.28 percent against its Tuesday's close of 7.35 percent. Meanwhile, the Nifty settled nearly 22 points higher, or 0.20 percent, at 10,930 at 9.08 am, while the Sensex surged more than 94 points, or 0.26 percent, to 36,441. The MidCap index outperformed, suring more than 80 points, or 0.45 percent, to settle at 17,818. The Bank Nifty also rose by 0.20 percent. ITC, ICICI Bank, HDFC, SBI, RIL, Asian Paints, Bharti Airtel moved higher, while Infosys, Kotak Bank dragged.
Here is the list of stocks to watch for today##Here is the list of stocks to watch for today
NSE to launch weekly options on NIFTY 50 Index##NSE to launch weekly options on NIFTY 50 Index
The National Stock Exchange (NSE) on Tuesday said it has received market regulator Securities and Exchange Board of India (Sebi)'s approval to launch weekly options on NIFTY 50 Index.
"NIFTY 50 weekly options will have seven consecutive weekly expiry contracts (excluding the week where monthly contracts expire) where after the expiry of a weekly contract, the exchange will come up with next weekly contract on a rolling basis," NSE said in a statement.
RBI to inject Rs 50,000 crore liquidity into system via open market operations##RBI to inject Rs 50,000 crore liquidity into system via open market operations
The Reserve Bank of India (RBI) on Tuesday said it would inject Rs 50,000 crore into the system in January 2019 through a purchase of government securities.
LIC makes open offer to acquire 26% stake in IDBI Bank##LIC makes open offer to acquire 26% stake in IDBI Bank
State-owned IDBI Bank on Tuesday said it has received final letter from Life Insurance Corporation (LIC) for an open offer to acquire additional 26 percent in the lender. The open offer has been made at a price of Rs 61.73 a share, which is in connection with LIC's acquisition of 51 percent controlling stake in IDBI Bank.
Pramit Brahmbhatt of Veracity expects rupee to trade in between 70.50- 71/$##Pramit Brahmbhatt of Veracity expects rupee to trade in between 70.50- 71/$
Top stocks to watch out for on December 19: IDFC, Capital First, IDBI, Fortis, NTPC, power companies##Top stocks to watch out for on December 19: IDFC, Capital First, IDBI, Fortis, NTPC, power companies
Fortis Healthcare: Private sector lender Yes Bank said it has sold over 2 percent stake in Fortis Healthcare Ltd (FHL) in tranches.
Yes Bank: The private sector lender has recommended the name of its board member Brahm Dutt for the post of Chairman to the RBI, according to sources. The chairman post fell vacant after resignation of Ashok Chawla in November following issues related to probity.
IDBI Bank: State-owned IDBI Bank on Tuesday said it has received final letter from Life Insurance Corporation (LIC) for an open offer to acquire additional 26 percent in the lender. The open offer has been made at a price of Rs 61.73 a share, which is in connection with LIC's acquisition of 51 percent controlling stake in IDBI Bank.
Power stocks: Gujarat chief minister Vijay Rupani on Tuesday decided to forgo the dues of residential, commercial and agricultural power connections with immediate effect to the tune of Rs 625 crore.
10 things you need to know before the opening bell##10 things you need to know before the opening bell
Asia: MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.2 percent in hesitant early trade. Japan's Nikkei eased 0.1 percent, while E-Mini futures for the S&P 500 inched up 0.17 percent.
Wall Street: Talk of a dovish turn helped Wall Street steady and the Dow ended Tuesday up 0.35 percent. The S&P 500 edged up 0.01 percent and the Nasdaq 0.45 percent.
Dollar: The steep drop in Treasury yields undermined one of the US dollar’s major props and pulled its index back to 97.000, from a recent 97.711 top. It fell to 112.46 yen, from a 113.70 high last week, while the euro nudged up to $1.1374 from a $1.1266 low.
Oil: Oil stole the show as a glut of supply saw US crude sink 8 percent overnight, while Brent shed almost 6 percent. US crude was last changing hands at $46.30 a barrel having hit its lowest since August 2017. Brent’s 35 percent plunge since October is sending a disinflationary pulse through the world at a time when trade and economic activity are already cooling.
Yes Bank recommends name of Brahm Dutt for post of chairman##Yes Bank recommends name of Brahm Dutt for post of chairman
Yes Bank has recommended the name of its board member Brahm Dutt for the post of Chairman to the RBI, according to sources. The Chairman post fell vacant after resignation of Ashok Chawla in November following issues related to probity.
Trump tweet ahead of Fed meet outcome and other global cues##Trump tweet ahead of Fed meet outcome and other global cues
Markets: Global markets battled with three narratives on Tuesday, first, an over 7 percent fall in oil; second, the failure of equities to recover; and third, lingering Trump risk in various forms.
FOMC decision: FOMC pricing remained at 80 percent chance for a hike Wednesday but there was increased discussion on reasons the Fed should consider to hold. Markets expect a 'dovish hike', with risks still very slightly tilted to the dovish side, but hawkish risks remain, too.
Trump on Fed.. again!: Trump tweeted on the Fed for the second day running: "I hope the people over at the Fed will read today’s Wall Street Journal Editorial before they make yet another mistake. Also, don’t let the market become any more illiquid than it already is. Stop with the 50 B’s. Feel the market, don’t just go by meaningless numbers. Good luck!"
US data: Data meanwhile showed softer than expected housing starts and stronger building permits.
Trump's troubles: One of Trump’s legal cases also saw some movement. Trump has agreed to shut down the Trump Foundation, distributing its remaining $1.75 billion in assets to other charities. The Foundation has been under fire from the NY attorney general's office since June on charges that it misused funds.
Trade news was positive: Reuters reports that China is buying more soybeans and the White House is seemingly backing down on border wall funding demands so that Congress can avoid a shutdown.
Asian equities trade higher, US markets ends in the green##Asian equities trade higher, US markets ends in the green
Here's a set of market data to help you guide in trade today##Here's a set of market data to help you guide in trade today
#Date: Dec 18, 2018 #Source: NSE
FII Net Buy 145 Cr in Cash Mkt (4353-4208)
DII Net Sell 183 Cr in Cash Mkt (2618-2801)
FIIs Net Sell 266 Cr in F&O
FIIs in F&O
#Date: Dec 18, 2018 #Source: NSE
FII Net Sell 951 Cr in Index Futures, OI +15475 contracts
FII Net Buy 941 Cr in Index Options, OI +1407 contracts
FII Net Sell 260 Cr in Stock Futures, OI -3551 contracts
Nifty Spot closed at 10908.7 up by 20.35 points
India VIX closed at 14.5775 up by 0.26%
Still in Ban: ADANIENT, ADANIPOWER, JETAIRWAYS, RELCAPITAL
Nifty OI +0.9%, Adds 1.89 lk shares
Nifty Dec Futures trading at 26.35 points prm v/s 22.15 points prm
Nifty Bank OI +3.8%; adds 57000 shares
Nifty PCR falls to 1.59 from 1.61
DEC SERIES: MAX OI at 10000 Put and 11000 Call
10900 Put Adds 5.66 lk shares, Prm at 72 vs 88
11100 Call Adds 2.11 lk shares, Prm at 28 vs 25
10800 Call Sheds 3.79 lk shares, Prm at 173 vs 162
OI -2.1%, Short Covering
OI +7.5%, Fresh Longs
OI +3.5%, Fresh Longs
OI -2.4%, Short Covering
OI +6.5%, Fresh Shorts
OI -2.4%, Long Unwinding