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Closing Bell: Nifty gives up 10,900, Sensex ends flat as HDFC, ITC, Infosys, Reliance support, HUL dips ahead of Q3 results

Closing Bell: Nifty gives up 10,900, Sensex ends flat as HDFC, ITC, Infosys, Reliance support, HUL dips ahead of Q3 results

Closing Bell: Nifty gives up 10,900, Sensex ends flat as HDFC, ITC, Infosys, Reliance support, HUL dips ahead of Q3 results
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Summary

Benchmark indices gave up all gains on Wednesday to end flat as HDFC and ITC dragged indexes. Infosys, Reliance Industries and ICICI Bank batted for the bulls. Hindustan Unilever dipped a percent ahead of its Q3 results later in the day. Yes Bank shares surged nearly 3 percent continuing its gaining trend. Jet Airways shares dipped 8 percent on Etihad proposal on debt restructuring. Here are the main highlights from the stock markets today:

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Sensex heatmap at close: Yes Bank, IndusInd Bank top gainers, Bharti Airtel, Vedanta among laggards##Sensex heatmap at close: Yes Bank, IndusInd Bank top gainers, Bharti Airtel, Vedanta among laggards

Closing Bell: Nifty gives up 10,900, Sensex ends flat as HDFC, ITC, Infosys, Reliance support, HUL dips ahead of Q3 results
Jan 16, 2019 3:42 PM

Closing Bell: Sensex, Nifty end flat as HDFC, ITC, HUL drag##Closing Bell: Sensex, Nifty end flat as HDFC, ITC, HUL drag

The Sensex ended at 36,321, up by just 3 points at close, while the Nifty settled below 10,900, higher by just 3.5 points. Broader markets underperformed with the Nifty MidCap slipping by 0.11 percent and the BSE MidCap mildly in the red. Yes Bank, Indiabulls Housing, IndusInd Bank, Wipro, BPCL, Infosys, ICICI Bank and SBI gained between half a percent and 2.64 percent. JSW Steel, Bharti Infratel, Bajaj Finance, Vedanta, UPL, Asian Paints and HCL Technologies declined between 1 and 2 percent.

Jan 16, 2019 3:39 PM

DCB Bank down on concern over rise in bad loans##DCB Bank down on concern over rise in bad loans

Shares of DCB Bank fell over 1.6 percent as its December quarter results showed a rise in non-performing assets, even though profit came above estimates, dealers said. For October-December, DCB Bank reported a net profit of Rs 861 million, higher than an average estimate of analysts at Rs 779.5 million, but gross non-performing assets was at 1.92 percent as on December 31 against 1.84 percent as of September end. There is growth in total income and net profit in the quarter, but a rise in non-performing assets is a risk to future profits, an analyst at a brokerage said. At 3.02 pm, shares of DCB Bank were down 0.8 percent at Rs 181.75, with over 7 million shares traded on the NSE against the daily average of 1.5 million shares. (Cogencis)

Jan 16, 2019 3:24 PM

Shrimp export companies up on report of rise in exports to US##Shrimp export companies up on report of rise in exports to US

Shares of shrimp exporting companies rose today as India's shrimp exports to the US have risen in the past few months, helping India remain the top exporter of the commodity to the world's largest economy for the fourth consecutive year. India is expected to benefit from the trade restrictions imposed by the US on China, as well as from the increase in import of value-added shrimp by the US. These may lead to growth of 7-10 percent on year in shrimp exports to the US in 2019, news reports said.  At 2.57 pm, shares of Avanti Feeds were up 2.57 percent, Apex Frozen Foods at 0.06 percent, and Waterbase was 1 percent higher.

Jan 16, 2019 2:57 PM

DCB Bank Q3 net profit at Rs 86.1 crore, NII at 293.6 crore##DCB Bank Q3 net profit at Rs 86.1 crore, NII at 293.6 crore

DCB Bank Q3 net profit at Rs 86.1 crore, NII at 293.6 crore. Net NPA at Rs 163.4 crore.

Jan 16, 2019 2:44 PM

Yes Bank shares continue uptrend, Sensex, Nifty largely flat##Yes Bank shares continue uptrend, Sensex, Nifty largely flat


Yes Bank shares traded 2.71 percent up at Rs 208.50 on the NSE at 2.37 pm. The stock has been gaining for the last three days and has risen nearly 13 percent in the period. Meanwhile, benchmark indices were largely flat with the Nifty slipping below 10,900, trading at 10,896, up by almost 10 points. The Sensex climbed almost 56 points, or 0.15 percent, to 36,374.

Jan 16, 2019 2:39 PM

Profit booking hits Trident but analysts still positive##Profit booking hits Trident but analysts still positive

Shares of Trident tanked over 3 percent on profit booking, after the stock rose to a six-month high of Rs 75.7 on Tuesday on the back of robust growth in earnings for the December quarter. Analysts said the stock should be bought at any correction, as they expect it to gain 20 percent more from current levels. However, to do that, shares of the company need to close above the Rs 75 level soon, an analyst said. The downside in the stock is likely to be capped at Rs 63. On NSE, 1.23 million shares of the company traded so far, marginally higher than its six-month average daily volume of 1.02 million shares. (Cogencis)

Jan 16, 2019 1:57 PM

CNBCTV18: NIIT has shortlisted players to buy NIIT Tech##CNBCTV18: NIIT has shortlisted players to buy NIIT Tech 

Jan 16, 2019 1:37 PM

Graphite India, HEG shares jump over 10% after 3-day slump##Graphite India, HEG shares jump over 10% after 3-day slump


Shares of Graphite India and HEG soared over 15 percent and 11 percent, respectively after torrid last three sessions. Graphite India touched an intra-day high of Rs 799.70, jumping 15.12 percent, after falling for three consecutive days. The midcap stock has corrected more than 20 percent in the last three months, from a high of Rs 1,035 hit on October 19 to today's level of Rs 769.


Likewise, HEG shares hit an intra-day high of Rs 3,925, advancing almost 11 percent. The midcap stock also rose after three consecutive days of declines. It touched a three-month high of Rs 4,315 on October 19 and was trading at Rs 3,812 today.

Read full report here

Jan 16, 2019 1:18 PM

Emirati business tycoon wants to buy Leela Hotels##Emirati business tycoon wants to buy Leela Hotels


Emirati business tycoon Rashid Al-Habtoor has evinced interest in acquiring the Leela Group of Hotels in India with an equity infusion of about $600 million (about Rs. 4,200 crore) and has made an offer in a letter to Finance Minister Arun Jaitley and the hotel.

Read full report here

Jan 16, 2019 1:07 PM

Mindtree Q3 results: Here's what to expect today##Mindtree Q3 results: Here's what to expect today

Information Technology company Mindtree is set to announce its quarterly results on Wednesday. The company has seen quite a bit of fall recently. After touching its lifetime high of Rs 1,183 in the month of September, the stock has corrected close to about 30 percent mainly due to growth slowing down in the quarter ended December 31.

Read and watch full report here

Jan 16, 2019 12:28 PM

Market update: Sensex, Nifty recover, Nifty back at 10,900 led by ICICI Bank, Reliance##Market update: Sensex, Nifty recover, Nifty back at 10,900 led by ICICI Bank, Reliance

The Sensex traded with gains of nealry 90 points, or 0.25 percent, at 36,408 at 12.05 pm. The Nifty was trading at 10,911.35, up by 24.55 points, or 0.23 percent. Broader markets also climbed with the Nifty MidCap up by 0.30 percent and the BSE MidCap 0.22 percent. 

Jan 16, 2019 12:08 PM

Most cement companies up on CLSA's upbeat outlook on sector##Most cement companies up on CLSA's upbeat outlook on sector

Shares of most cement companies rose today after brokerage firm CLSA Capital Markets said that volume growth in the cement industry in the December quarter is expected to have been around high single digits, despite a strong base of 13 percent. It said that fall in petcoke and diesel prices, and appreciation in the rupee are yet to show in the numbers, but seasonality of volumes should help unit costs. CLSA expects a 3 percent on-year rise in operating profits across the sector, and sees a strong growth in UltraTech Cement, Shree Cement and ACC Cements, while Ramco Cements, India Cements Capital and Dalmia Bharat might remain under pressure. The brokerage firm said that the industry's profitability should improve going ahead because lower energy price benefits should start to flow in. However, it said that the performance of stocks is contingent upon cement price hikes. At 10.50 am, shares of UltraTech Cement, ACC, Shree Cement and Ramco Cements were up 0.3-0.8 percent. Shares of BSE-listed India Cements Capital were down 4.9 percent. (Cogencis)

Jan 16, 2019 11:19 AM

Etihad CEO writes to SBI chairman on Jet Airways resolution plan: Check details on CNBCTV18##Etihad CEO writes to SBI chairman on Jet Airways resolution plan: Check details on CNBCTV18

Jan 16, 2019 11:01 AM

Indiabulls Integrated locked at 5% upper circuit, gets IRDAI nod for insurance operations##Indiabulls Integrated locked at 5% upper circuit, gets IRDAI nod for insurance operations


Shares of Indiabulls Integrated Services surged 5 percent snapping their three-session losing streak as the company's subsidiary Indiabulls Life Insurance has received preliminary approval to start its life insurance business. The Insurance Regulatory and Development Authority of India gave an initial nod to the company to begin the process. The company will move ahead with the next step of filing its application for registration with insurance regulatory to undertake life insurance business in India. Shares of the company were locked at 5 percent upper circuit at Rs 333.15. The stock has gained nearly 62% in 52 weeks.

Jan 16, 2019 10:33 AM

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