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Closing Bell: Sensex, Nifty end with mild gains led by HUL, Yes Bank, IT, metal shares, Sun Pharma, Reliance, M&M, ITC drag, Indiabulls Housing up 10%

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Indian shares ended mildly higher on Monday after choppy trade, under-performing its Asian peers. The Sensex gained 46.70 points, or 0.13 percent, to end at 36,241, while the Nifty settled at 10,883.75, up by just 7 points, or 0.06 percent. This blog will keep you posted on the latest updates and developments from the stock markets today:

Closing Bell: Sensex, Nifty end with mild gains led by HUL, Yes Bank, IT, metal shares, Sun Pharma, Reliance, M&M, ITC drag, Indiabulls Housing up 10%
  • Sensex heatmap at close: Yes Bank, HUL, Vedanta among top gainers, Sun Pharma dips 7.5%##Sensex heatmap at close: Yes Bank, HUL, Vedanta among top gainers, Sun Pharma dips 7.5%

    Closing Bell: Sensex, Nifty end with mild gains led by HUL, Yes Bank, IT, metal shares, Sun Pharma, Reliance, M&M, ITC drag, Indiabulls Housing up 10%
  • Closing Bell: Sensex, Nifty settle mildly higher, Indiabulls Housing Finance up 10%##Closing Bell: Sensex, Nifty settle mildly higher, Indiabulls Housing Finance up 10%

    The Sensex gained 46.70 points, or 0.13 percent, to end at 36,241, while the Nifty settled at 10,883.75, up by just 7 points, or 0.06 percent. Broader markets outperformed frontline indexes with the Nifty MidCap gaining 0.72 percent. The BSE MidCap setled 0.46 percent higher. As many as 33 stocks advanced against 10 declining sectors. Nfity Pharma dipped the most by2.31 percent. Among top gainers, Indiabulls Housing Finance surged by nearly 10 percent, Yes Bank up almost 5 percent. HUL shares also surged more than 4 percent, while Gail and Vedanta were up nearly 3.7 percent. Bharti Airtel and NTPC were other major gainers, rising almost 3 percent. Among top losers, Sun Pharma dipped 7.5 percent, M&M, UPL, HPCL, ZEEL, M&M, ITC, Hero MotoCorp and Reliance Industries declined by up to 4 percent.

  • Here's why Reliance Communications shares are up over 16% today##Here's why Reliance Communications shares are up over 16% today


    Shares of Reliance Communications (RCom) surged more than 16 percent on Monday, touching an intraday high of Rs 16.80. The stock surged after Reliance Realty, the arm of Reliance Communications, furnished corporate guarantees of Rs 1,400 crore to the Department of Telecommunication, which was part of the Supreme Court (SC) order on Friday allowing Anil Ambani-controlled company to sell spectrum to Mukesh Ambani's Reliance Jio Infocomm. Read more

  • Local growth, global growth & politics are three significant challenges for markets, says Udayan Mukherjee##Local growth, global growth & politics are three significant challenges for markets, says Udayan Mukherjee


    Udayan Mukherjee, consulting editor at CNBC-TV18, on Monday spoke about easing global trade worries, improved outlook and also shared concerns around earnings growth trajectory and looming political uncertainty. Read more

  • Escorts hit 2-month high as Nov total tractor sales up 56%##Escorts hit 2-month high as Nov total tractor sales up 56%

    Shares of Escorts gained more than 2 percent to hit their two-month high of Rs 719.80 as the total tractor sales of the company in November rose 56.4 percent on year to 8,005 units. The company's domestic tractor sales rose 54.6 percent on year to 7,641 units and tractor exports rose to 364 units from 178 units a year ago. The shares of the company gained more than 5 percent in the last three sessions. At 3.04 pm, shares of the company traded up 0.5 percent at Rs 708.45.

  • Yes Bank appoints TS Vijayan as Independent Director for 5 years##Yes Bank appoints TS Vijayan as Independent Director for 5 years

  • GAIL India surges 3% on hopes of hike in tariffs, Sensex, Nifty flat##GAIL India surges 3% on hopes of hike in tariffs, Sensex, Nifty flat
     

    Shares of GAIL India surged 3 percent  after brokerage firm Nomura Financial Advisory and Securities India in a note said it expects 40-50 percent hike in tariff for the company's Hazira-Vijaipur-Jagdishpur pipeline. The brokerage said the final tariff-setting process was in final stages. Nomura India said the network accounts for 72-73 percent of GAIL's transmission volume and therefore, is key to the company's earnings. (Cogencis)


    The Sensex traded at 36,226.95, up by 32.65 points, or 0.09 percent at 3.15 pm, while the Nifty was at 10,875.90, marginally down by 0.85 points, or 0.01 percent. The Nifty MidCap outperformed, rising 0.82 percent. 

  • Motherson Sumi gains 7% on reduced trade war concerns##Motherson Sumi gains 7% on reduced trade war concerns

    Shares of Motherson Sumi trade nearly 7 percent higher as investors bet on its overseas business prospects, following a tweet from US President Donald Trump. He wrote that China will be reducing and removing tariffs into cars coming from US. Shares traded at Rs 166.25, up by 6.78 percent on the NSE at 2.36 pm.

  • CNBC-TV18 newsbreak confirmed as HUL board approves scheme of amalgamation with GSK Consumer##CNBC-TV18 newsbreak confirmed as HUL board approves scheme of amalgamation with GSK Consumer

  • Hindustan Unilever up 2.5% on Horlicks deal##Hindustan Unilever up 2.5% on Horlicks deal

    Shares of Hindustan Unilever surged 2.53 percent to Rs 1,798.40 on the NSE at 2.07 pm. The Board of Directors of Hindustan Unilever Limited (HUL) today approved a scheme of amalgamation between the Company and GlaxoSmithKline Consumer Healthcare Limited (GSK CH India) subject to obtaining requisite approvals from statutory authorities and shareholders. HUL has reached a definite agreement with GSK CH India in this regard. The transaction is an all equity merger with 4.39 shares of HUL being allotted for every share in GSK CH India. This transaction values the total business at INR 317 bln." 

  • Indiabulls Housing Finance surges 6% ahead of RBI meet, Sensex, Nifty recover##Indiabulls Housing Finance surges 6% ahead of RBI meet, Sensex, Nifty recover


    Shares of Indiabulls Housing Finance surged nearly 6 percent and was the top gainer on the Nifty 50 ahead of the upcoming RBI meet. Shares of Indiabulls Housing Finance were up 5 percent at Rs 751.40, with over 8.3 million shares traded on the NSE versus a daily average of 1.7 million shares. Shares quoted at Rs 773, up by 8.02 percent on the NSE at 2 pm. The Nifty50 traded in the green, up by nearly 15 points, or 0.14 percent, to 10,891. The Sensex traded at 36,224, higher by nearly 30 points, or 0.08 percent. 

  • Major European indices open higher amid global strength in equities##Major European indices open higher amid global strength in equities

  • Shankara Building tanks 10%, Sensex, Nifty turn negative##Shankara Building tanks 10%, Sensex, Nifty turn negative


    Shares of Shankara Building Products hit their 10 percent lower circuit limit of Rs 624.45 as the company pared its store expansion target and said it sees lower margins in the remainder of 2018-19 (Apr-Mar). Meanwhile, benchmark indexes traded lower with the Nifty50 down by 25 points, or 0.23 percent, to 10,852 at 1.06 pm. The Sensex dipped over 81 points, or 0.22 percent, to 36,112.87.

  • RCom up 16% today, Sensex, Nifty flat##RCom up 16% today, Sensex, Nifty flat

    RCom shares traded at Rs 16.55, higher by 16.14 percent, on the NSE at 11.44 am. The benchmark Nifty traded flat at 10,877.85, up by 1 points, while the Sensex was up by 42 points, or 0.12 percent, to trade at 36,236. Shares surged more than 16 percent on Monday, touching an intra-day high of Rs 16.80.

  • Market update: Sensex, Nifty trim gains as crude oil prices gain##Market update: Sensex, Nifty trim gains as crude oil prices gain


    The Sensex traded at 36,271, higher by nearly 77 points, or 0.21 percent, while the Nifty was up by 16.30 points, or 0.15 percent at 10,893 at 11.05 am. The Nifty MidCap outperformed, rising 0.78 percent. The BSE MidCap was also higher by 0.63 percent. Among index gainers, Indiabulls Housing Finance, Vedanta, Hindalco, Tata Steel, Coal India, Power Grid and Tata Motors rose by up to over 5 percent. Among index losers, Sun Pharma, HPCL, UPL, BPCL, Hero MotoCorp, M&M, Reliance, L&T, by up to over 8 percent.

  • PSU oil marketing companies fall as global crude oil prices surge 5%##PSU oil marketing companies fall as global crude oil prices surge 5%

    Shares of state-owned oil marketing companies fell as global crude oil prices surged nearly 5 percent after the truce between the US and China on trade war alleviated concern over demand, and on report that the Organization of Petroleum Exporting Countries and others have reached consensus to cut output. Reports late Sunday said that the OPEC and other non-OPEC members including Russia have reached consensus on cutting their output, also weighed on the shares of oil marketing companies. An agreement on the quantum of the cut may be signed at the bloc's meeting on Thursday. A rise in crude oil prices is negative for oil marketing companies as it impacts their marketing margins. At 10 am, shares of the Indian Oil Corp., Hindustan Petroleum Corp. and Bharat Petroleum Corp. were down 1-2.4 percent. 

  • Tata Power, Adani Power gain on Gujarat tariff hike news##Tata Power, Adani Power gain on Gujarat tariff hike news

    Shares of Tata Power and Adani Power rose after a media report said Gujarat will hike power tariffs for three imported coal-based power plants to compensate for higher coal prices. The three power plants belong to Tata Power Company, Adani Power and Essar Power, the report said. The news is a big relief for the three companies who together produce 10,000 MW of electricity but have been riddled with losses. At 9.40 am, shares of Adani Power and Tata Power were 0.6 percent and 2.8 percent higher, respectively. (Cogencis)

  • Metal stocks dominate among gainers, Hindalco up 4%, Sun Pharma tanks 9%##Metal stocks dominate among gainers, Hindalco up 4%, Sun Pharma tanks 9%

  • Opening Bell: Sensex, Nifty start 0.5% higher, Sun Pharma tanks nearly 9%##Opening Bell: Sensex, Nifty start 0.5% higher, Sun Pharma tanks nearly 9%

    The Sensex surged 222 points, or 0.61 percent, to 36,416.70 in initial trade, while the Nifty also moved higher by more than 55 points, or 0.51 percent, to 10,932. The Nifty MidCap also gained 0.59 percent, while the Nifty Bank was up by 0.43 percent. Among top gainers, Hindalco surged more than 4 percent, while Vedanta was nearly 4 percent up. Tata Stel, JSW Steel and Yes Bank shares rose by up to 3.39 percent. Among losers, Sun Pharma was clearly the biggest loser, plunging nearly 9 percent. Eicher Motors dipped more than 2.6 percent, while downstream public sector companies HPCL, IOC and BPCL dipped by up to 2.63 percent as global crude oil prices recovered.

  • Pre-open market update: Sensex jumps 200 points, Nifty at 10,930##Pre-open market update: Sensex jumps 200 points, Nifty at 10,930


    The Sensex settled 202 points higher, or 0.56 percent, to 36,396.69 at 9.08 am, while the Nifty was at 10,930.70, higher by nearly 54 points, or 0.50 percent. The Nifty MidCap also surged 0.51 percent, while the Bank Nifty rises 0.63 percent. Sun Pharma shares were down more than 5 percent. Yes Bank surged 2.5 percent. Other major gainer were Vedanta, Tata Motors DVR, Tata Steel, HUL, M&M, ICICI Bank.

  • Rupee opens weak at 69.87 against the US dollar##Rupee opens weak at 69.87 against the US dollar


    The Indian rupee opened weak at 69.87 against the US dollar on Monday. The rupee had closed at 69.59 against the greenback on Friday.

  • Here's the list of stocks to watch out for today##Here's the list of stocks to watch out for today

  • November GST collections fall below Rs 1 lakh crore##November GST collections fall below Rs 1 lakh crore


    After breaching the Rs 1-lakh crore-mark in October, revenue collection under the Goods and Services Tax (GST) slided to Rs 97,637 crore in November. The revenue collected in November relates to transactions made in October. The total GST revenue collected in October (for September) was Rs 1,00,710 crore. The Finance Ministry said a total of 69.6 lakh GSTR-3B returns were filed till November 30, bringing in Rs 16,812 crore as Central GST (CGST), Rs 23,070 crore as state GST (SGST), Rs 49,726 crore as Integrated GST (IGST) and Rs 8,031 crore as cess. Read more

  • Biocon seen up on EU OK for Fulphila made by company, Mylan##Biocon seen up on EU OK for Fulphila made by company, Mylan
     


    Shares of Biocon are seen extending gains for the third consecutive session as the company said it has received approval from the European Medicines Agency for Fulphila, a biosimilar of Amgen's Neulasta. The drug has been jointly developed by the company and Mylan. The biosimilar is used to stimulate bone marrow to produce more neutrophils to fight infection in patients undergoing chemotherapy. On Friday, shares of Biocon ended up 4 percent at Rs 624.35. 

  • Here's what Nomura has to say on IT Services##Here's what Nomura has to say on IT Services

  • Bank of Maharashtra appoints AS Rajeev as MD and CEO##Bank of Maharashtra appoints AS Rajeev as MD and CEO


    State-owned Bank of Maharashtra Sunday announced that A S Rajeev has joined the lender as its Managing Director & Chief Executive Officer. "A S Rajeev has joined Bank of Maharashtra as Managing Director & Chief Executive Officer on 2nd December 2018. Prior to this, he was Executive Director of Indian Bank from 22 January 2016," the lender said in a release. Read more

  • Top stocks to watch out for on December 3: Sun Pharma, Maruti Suzuki, Tata Motors, SBI##Top stocks to watch out for on December 3: Sun Pharma, Maruti Suzuki, Tata Motors, SBI

    State Bank of India: A consortium of Indian banks led by the State Bank of India (SBI) has secured a UK High Court order as part of efforts to help them pursue some of the funds owed to them in unpaid debts by embattled Indian liquor tycoon Vijay Mallya.

    Tata Motors: The company on Saturday reported a four percent decline in its domestic sales for November on a year-on-year basis.

    Bank of Maharashtra:  State-owned Bank of Maharashtra on Sunday announced that AS Rajeev has joined the lender as its Managing Director and Chief Executive Officer.

    Steel companies: The steel sector, which is on a consolidation mode now under the IBC process amidst strong domestic demand, is unlikely to witness any greenfield expansion as mill-owners are likely to go in for brownfield expansion at least for the next half a decade or so, say industry players and analysts.

    Check out more hot stocks for today

  • US proposes changes to H1B visa application process in favour of skilled and highly paid foreign workers##US proposes changes to H1B visa application process in favour of skilled and highly paid foreign workers


    The Trump administration on Friday proposed major changes to the H-1B application process with the aim of awarding the visa to the most skilled and highest paid foreign workers. Under a new proposed merit-based rule, a notice for which was issued on Friday, companies employing foreign workers on the H-1B visa under the Congressional mandated annual caps -- would have to electronically register with the US Citizenship and Immigration Services (USCIS) during a designated registration period.

    Read full story here

  • UBS bearish on Yes Bank, sets downside case for the bank's stock at Rs 110/share##UBS bearish on Yes Bank, sets downside case for the bank's stock at Rs 110/share

  • Steel companies may go for expansion through brownfield route##Steel companies may go for expansion through brownfield route


    The steel sector, which is on a consolidation mode now under the IBC process amidst strong domestic demand, is unlikely to witness any greenfield expansion as mill-owners are likely to go in for brownfield expansion at least for the next half a decade or so, say industry players and analysts. Domestic steel demand touched 91 million tonne (mt) in fiscal 2018, making the country the third largest consumer of the alloy in the world. In FY18, domestic demand grew by 8 percent, while globally it grew by 5 percent. Read more