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CNBC-TV18 Market Highlights: Sensex ends 127 points lower, Nifty50 below 12,000; banks, metals drag

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Indian shares ended lower on Tuesday with the Nifty below 12,000 levels dragged by banking, metal and auto stocks. The Sensex ended 127 points lower at 40,675, while the Nifty50 index ended 54 points lower at 11,994.

CNBC-TV18 Market Highlights: Sensex ends 127 points lower, Nifty50 below 12,000; banks, metals drag
  • Here's a quick roundup of all the market action of the day:##Here's a quick roundup of all the market action of the day:

    - Market Ends With Losses But Off Lows, Nifty Fails To Hold 12,000


    - Nifty Down 165 Points and Sensex 489 Points From Recent Highs


    - 37 Of 50 Nifty Stocks Close With Cuts; Yes Bank, Bharti Infratel Top Losers


    - Midcap Index Falls The Most Amongst Frontliners, Nifty Midcap Slips 200 Points


    - Market Breadth Favours Declines; Advance-Decline Ratio At 1:2


    - Nifty Bank Falls 258 Points; Except Kotak Bank, All Constituents End Lower


    - JSPL Slips 6 percent As SC Refuses Sale/Transport Of Rs 2,000 Crore Sarda Mine Iron Ore


    - Maruti Ends Flat Despite Company Announcing Plans To Rise Vehicle Prices


    - Profit Booking Seen In Telecom Companies, Vodafone Idea Slips Over 10 percent


    - Most Large Cap IT Stocks Gain In A Weak Session, TCS Top Gainer


    - Trastuzumab Launch In The US Market Helps Biocon Gain Over 1 percent


    - Metal Stocks Worst Hit Among Sectoral Indices On Global Trade Concerns

  • Closing Bell: Sensex ends 127 points lower, Nifty50 below 12,000; banks, metals drag##Closing Bell: Sensex ends 127 points lower, Nifty50 below 12,000; banks, metals drag

    Indian shares ended lower on Tuesday with the Nifty below 12,000 levels dragged by banking, metal and auto stocks. Losses in index heavyweights like HDFC Bank, L&T, Reliance Industries, and Axis bank also contributed to the fall. The Sensex ended 127 points lower at 40,675, while the Nifty50 index ended 54 points lower at 11,994. Broader markets underperformed benchmark indices with Nifty Midcap and Nifty Smallcap indices down 1.1 percent and 0.7 percent, respectively.

    Among stocks, Bajaj Auto, TCS, Bajaj Finserv, Kotak Bank and Infosys were the top gainers on the Nifty50, while Bharti Infratel, Yes Bank, Tata Steel, Adani Ports, and Zee led the losses.

    All sectoral indices, except Nifty IT and Nifty Realty, ended the day in red. Major selling was seen in the metal, banking and auto sectors. Nifty PSU Bank index fell the most, down 2.86 percent, followed by Nifty Metal and Nifty Media, which were down 2.6 percent and 2.3 percent, respectively. Nifty Bank also lost 0.8 percent, while Nifty Pharma declined 1 percent for the day. Meanwhile, Nifty Realty rose over 1.3 percent and Nifty IT added 0.5 percent during the day.

  • Seeing a sense of optimism in market; people looking to invest, says Edelweiss Securities

    CNBC-TV18 Market Highlights: Sensex ends 127 points lower, Nifty50 below 12,000; banks, metals drag
  • Global gold prices tread water despite Trump's Latam tariffs##Global gold prices tread water despite Trump's Latam tariffs

    Global gold prices were trading in a narrow range on Tuesday as investors stayed on the sidelines, even as US President Donald Trump's move to slap tariffs on Brazil and Argentina stoked fresh global trade tensions. Spot gold slipped 0.1 percent to $1,460.92 per ounce by 0506 GMT. The US gold futures fell 0.2 percent to $1,466.60. Trump on Monday announced tariffs on US steel and aluminium imports from Brazil and Argentina "effective immediately", opening new fronts in his trade war. READ MORE

  • Life insurance stocks are taking a pause after the big rally: Find out why##Life insurance stocks are taking a pause after the big rally: Find out why


    The life insurance sector has witnessed a glorious rally this year. However, the scenario seems a little bit off currently after all the 3 companies seem to have taken a break from their earlier run towards lifetime highs. 

    Since last month, the life insurers have fallen from their record-high levels. HDFC Life Insurance saw the biggest fall of 8.29 percent since November 1, 2019. Meanwhile, SBI Life Insurance and ICICI Prudential Life Insurance slipped 3 percent and 2 percent respectively. On a year-to-date (YTD) basis, the life insurance space saw substantial growth of 51-59 percent compared to Nifty’s growth of 11 percent. READ MORE

  • Edelweiss expects RBI to cut rate by 25-50 bps in December policy

    Edelweiss is expecting the Reserve Bank of India (RBI) to cut the repo rate by 25 to 50 basis points in the December monetary policy. One basis point is a hundredth of a percentage point.
    CNBC-TV18 Market Highlights: Sensex ends 127 points lower, Nifty50 below 12,000; banks, metals drag
  • FIIs buy equities worth over Rs 25,000 crore in November, highest since March##FIIs buy equities worth over Rs 25,000 crore in November, highest since March

    Foreign institutional investors (FIIs) have been aggressively buying Indian stocks. FIIs were net buyers of Indian equities worth Rs 25,231 crore in the month of November, recording the highest monthly inflow since March this year. FIIs have been buyers in 15 of 21 sessions in November. They invested a net of Rs 12,368 crore in October.

    The benchmark indices also scaled fresh all-time highs in the previous week following sustained inflows by foreign institutional investors. The foreign investors bought equities worth Rs 7,683 crore during that week.

    Click here to read more.

  • Caplin Point Laboratories' shares fall over 3%##Caplin Point Laboratories' shares fall over 3%

    The shares of Caplin Point Laboratories slipped 3.15 percent intraday on Tuesday after it receives final approval from the United States Food and Drug Administration (USFDA) for its abbreviated new drug application (ANDA) Sodium Nitroprusside injection, 50 mg/2 ml (25 mg/ml) vial.

    The injection is a generic therapeutic equivalent version of Nitropress (Sodium Nitroprusside) 50 mg/vial of Hospira Worldwide, INC.

    At 1:38 pm, the stock price was trading 1.83 percent to Rs 311.05 per share on the NSE. 

  • Does growth trump inflation? Analysts expect another 25 bps rate cut in December MPC meeting
    Post the poor show in Q2 GDP data, analysts expect RBI to further cut repo rate despite rise in inflation.Get latest Economy online at cnbctv18.com
    CNBC-TV18 Market Highlights: Sensex ends 127 points lower, Nifty50 below 12,000; banks, metals drag
  • Expect Indian economy to stabilize in 2020, says Goldman Sachs to CNBC-TV18##Expect Indian economy to stabilize in 2020, says Goldman Sachs to CNBC-TV18

    The global investment banker said;

    1.  Expect Indian economy to stabilize in 2020

    2.  India's November PMI figure was better than earlier

    3.  Positive impulses from global markets to show up in the Indian economy

    4.  Global recession risks seem higher than before

    5.  Probability of a global recession stands at 20 percent

    6.  Other advanced economies not showing financial imbalances

    7.  Expect global growth to bottom out through 2020

    8.  Trade issues are weighing on growth

    9. Trade war escalation will not help President Trump in election

  • BSE Stocks Update: Only 8 out of 30 BSE stocks trading in the green##BSE Stocks Update: Only 8 out of 30 BSE stocks trading in the green

    The 30-share Sensex slipped over 200 points to 40,601.67 due to the losses in YES Bank, Tata Motors, L&T, ICICI Bank and other heavyweights. Bajaj Auto was the top gainer in the index, rising 2.40 percent while YES Bank plunged 5 percent. 

    CNBC-TV18 Market Highlights: Sensex ends 127 points lower, Nifty50 below 12,000; banks, metals drag
  • Nifty Indices Update: Nifty PSU Bank remains the worst performing index of the day##Nifty Indices Update: Nifty PSU Bank remains the worst performing index of the day

    Nifty PSU Bank slipped 2.42 percent after shares of J&K Bank, Union Bank, PNB and Canara Bank plunged over 3 percent. Meanwhile, Jindal Steel was the biggest loser in the Nifty Metal index, down 2.36 percent while the stock plunged 8 percent. 

    Nifty Realty and Nifty IT were the only Nifty50 sectoral indices to trade in the green. 

    CNBC-TV18 Market Highlights: Sensex ends 127 points lower, Nifty50 below 12,000; banks, metals drag
  • Here's how SBI Cards IPO will impact the valuation of its parent SBI##Here's how SBI Cards IPO will impact the valuation of its parent SBI

    The country's largest public-sector lender State Bank of India (SBI) has filed an initial draft for an IPO for its credit card venture SBI Cards and Payments Services (SBI Cards).

    According to a report by Macquarie, the IPO is expected to be around Rs 9,000-9,600 crore in size. The IPO is likely to hit the markets early next year.

    SBI, which holds a 74 percent stake in the unit, along with private equity firm Carlyle Group, which holds the rest 26 percent through its subsidiary CA Rover Holdings, will together sell 13 crore shares or 14 percent of the company through the IPO. 

    Read more on this here.

  • Morgan Stanley, CLSA bullish on Bharti Airtel post tariff hike##Morgan Stanley, CLSA bullish on Bharti Airtel post tariff hike

    Global brokerages Morgan Stanley and CLSA have retained a bullish stance on Bharti Airtel as they expect improvement in the company’s financials after it announced a tariff hike on Sunday.

    Morgan Stanley upgraded Bharti Airtel to ‘overweight’ and raised target price (TP) to Rs 530 from Rs 410 per share earlier.

    The brokerage expects the company to see an improvement in profitability and balance sheet repair over the next few years along with a rise in average revenue per user (ARPU).

    Click here to read more.

  • Biocon shares gain 5% on launch of Ogivri biosimilar in US##Biocon shares gain 5% on launch of Ogivri biosimilar in US

    The shares of Biocon rose 5 percent on Tuesday after the company launched Trastuzumab biosimilar Ogivri in the US market. The company with its partner Mylan NV announced the US launch of Ogivri. Ogivri, a biosimilar to Herceptin, has been co-developed by Biocon Biologics and Mylan and will be available in 150 mg and 420 mg strengths.

    The stock rose as much as 4.8 percent to Rs 299.70 per share on the BSE. At 10:30 am, the stock was trading at Rs 290, up 1.4 percent as compared to a 0.14 percent or 56 points fall in the Sensex at 40,746. Read more here.

  • Maruti Suzuki announces price increase across various models##Maruti Suzuki announces price increase across various models

    In its BSE regulatory filing, Maruti Suzuki in its press release said, "The cost of the company's vehicles has been impacted adversely due to an increase in various input costs. Hence,  it has become imperative for the Company to pass on some impact of the above additional cost to customers through a price increase across various models in January 2020. This price increase shall vary for different models."

    At 11:47 am, the shares were trading 0.29 percent to Rs 7,160 per share on the NSE.

  • Ujjivan Small Finance Bank IPO oversubscribed by 2x##Ujjivan Small Finance Bank IPO oversubscribed by 2x

    As per the NSE bid details, Ujjivan Small Finance Bank continued to receive a good response from the investors on Tuesday. As of 11:40 am, the issue received 0.72 times bids on Day 2 of the IPO issue. 

    CNBC-TV18 Market Highlights: Sensex ends 127 points lower, Nifty50 below 12,000; banks, metals drag
  • RBL Bank's shares slip over 3% over QIP issue announcement##RBL Bank's shares slip over 3% over QIP issue announcement

    The shares of RBL Bank slipped over 3 percent on Tuesday after the company launched a qualified institutional placement (QIP) issue for a subscription.

    At 11:10 am, the share price was trading 2.37 percent or 8.85 points lower to Rs 2.37 percent while on an intraday basis, the shares slipped 3.17 percent at Rs 361.55 per share on the NSE. 

    The capital raising committee of the bank approved the floor price for the QIP at Rs 352.57 per equity share, at a 5.5 percent discount on Monday's closing price.

    "We will offer a discount of not more than 5 percent on the floor price," it said in a release on the exchange.

  • NMDC's shares slip over 3% post weak iron ore production##NMDC's shares slip over 3% post weak iron ore production

    The share price of NMDC slipped 3.31 percent intraday on Tuesday after the company's monthly production declined to 2.94 metric tonnes (MT) from 3.29 MT in the corresponding quarter last year. 

    The sales remained constant at 2.79 MT YoY in the month of November. 

    In both Chattisgarh and Karnataka, the production declined to 2.40 MT v/s 2.60 MT YoY and 0.54 MT v/s 0.69 MT YoY respectively. 

    At 11:06 am, the shares were trading 3.13 percent lower to Rs 102.20 per share on the NSE. 

  • Oil rises for a second day as Saudi Arabia pushes supply cut
    Brent futures rose 19 cents, or 0.3 percent, to $61.11 a barrel by 0218 GMT, after gaining 0.7 percent on Monday.U.S. West Texas Intermediate crude was up by 21 cents, or 0.4 percent, at $56.17 a barrel.
    CNBC-TV18 Market Highlights: Sensex ends 127 points lower, Nifty50 below 12,000; banks, metals drag
  • CLSA retains 'sell' on Vodafone Idea due to market share loss, hefty AGR dues##CLSA retains 'sell' on Vodafone Idea due to market share loss, hefty AGR dues

    The share price of Vodafone Idea plunged over 10 percent intraday on Tuesday after CLSA retained 'sell' call on the stock.

    At 9:48 am, the shares were trading 9.62 percent or 0.75 points lower to Rs 7.05 per share on the NSE while on an intraday basis, the stock price plunged 10.25 percent at Rs 6.90.

    CLSA in its report explained that the telecom company's key concern is its market loss. Gearing will be out of control at 5.9x despite EBITDA jump of 67 percent by FY22, it said.

    The brokerage also added that the company will find it difficult to fund a hefty annual spectrum payment of Rs 16,000 crore despite a 40 percent tariff hike by FY22.

    "Continue to factor in 25 percent of AGR (adjusted gross revenue) dues risk i.e. Rs 3.80/ share", the brokerage said.

    CLSA retained 'sell' call on Vodafone Idea but raised the target price to Rs 6.50 per share from Rs 5.50 per share earlier.

  • Opening Bell: Markets open flat, Nifty50 holds 12,000 level##Opening Bell: Markets open flat, Nifty50 holds 12,000 level

    Indian equity benchmark indices opened flat on Tuesday led by the gains in broader indices and media stocks.

    At 9:18 am, the Sensex was trading 54.85 points or 0.13 percent lower at 40,748.21 while the Nifty50 index was down 21.75 points or 0.18 percent at 12,024.95.

    Broader indices traded in the green with minor gains. Nifty Midcap 100 index and Nifty Smallcap 100 index were both trading 0.03 percent higher.

    Click here to read more.

  • Anuj Singhal of CNBC-TV18 explains on what should a retail investor do with YES Bank now?##Anuj Singhal of CNBC-TV18 explains on what should a retail investor do with YES Bank now?

    The YES Bank stock has more than doubled from the lows at which Rana Kapoor sold his stake and that had given a great trading opportunity where the risk-reward really favoured taking a punt and many people made a lot of money doing that. And if you remember we had spoken about that potential trade on the channel. But what now? Is that trade over? Is YES Bank still a buy? Or is it going back to its recent low? READ MORE

  • Rupee opens lower at 71.70##Rupee opens lower at 71.70

    The Indian Rupee opens at 71.70 on Tuesday after global markets remain concerned on the ongoing developments surrounding US President Donald Trump who announced tariffs on Brazil and Argentina. Investors remained cautious as trade truce with China still remains a cause for concern. 

  • Kiran Mazumdar Shaw of Biocon is hoping to receive approval for Insulin Glargine by March 2020##Kiran Mazumdar Shaw of Biocon is hoping to receive approval for Insulin Glargine by March 2020

    Biocon to CNBC-TV18:

    1.   Entered US market after getting approval from regulator

    2.   Pharma company Amgen launched Trastuzumab at risk, in the US market

    3.   See space for company and Mylan in the US market

    4.   Have a profit share arrangement with Mylan; opportunity is sizeable

    5.   Got both dosage forms of Trastuzumab in the US market

    6.   Both dosages of Trastuzumab in US market will garner more market share

    7.   Dominant dosage of Trastuzumab in the US market is 150 mg

    8.   Believe company and Mylan are well-positioned in the oncology space

    9.   Biocon biologics has 28 biosimilars under development currently

    10. Have significant presence in Trastuzumab among emerging markets

    11. Hoping to receive approval for insulin Glargine by March 2020

    12. Confident of hitting the $1 billion biosimilar target mentioned earlier

  • Zee Entertainment followed highest standard of corporate governance in making public disclosures, says MD & CEO##Zee Entertainment followed highest standard of corporate governance in making public disclosures, says MD & CEO

    Zee Entertainment has faced allegations on corporate governance standards of the company raised by the Independent Directors who recently resigned from the board. Defending the company, Punit Goenka, MD & CEO of the company told CNBC-TV18 that the company has followed the highest level of corporate governance when it comes to disclosures and making things public. On the new board composition he said, the board has not been fully reconstituted yet, adding that to give confidence to their shareholders and institutional investors they would bring in people with digital and media expertise. READ MORE

  • Top brokerage calls for December 3: Morgan Stanley upgrades Bharti Airtel; CLSA retains 'sell' call on Vodafone Idea
    CNBC-TV18 Market Highlights: Sensex ends 127 points lower, Nifty50 below 12,000; banks, metals drag
  • CNBC-TV18's top stocks to watch out for on December 3##CNBC-TV18's top stocks to watch out for on December 3

    RBL Bank: The bank will raise funds by issuing equity shares through the qualified institutional placement (QIP) route. The capital raising committee of the bank approved the floor price for the QIP at Rs 352.57 per equity share, at a 5.5 percent discount on Monday's closing price.

    Biocon: Biocon and its partner Mylan have jointly launched cancer drug Ogivri, a biosimilar to Herceptin, in the US. The drug will be available in a 420 mg multi-dose vial and a 150 mg single-dose vial and will be used for treatment of all types of breast and metastatic stomach cancers.


    Bank of Baroda will consider raising capital funds through the issue of capital debt instruments on December 5.

    Click here for more

  • Karvy Stock Broking's trading licence suspended: What clients can do now?##Karvy Stock Broking's trading licence suspended: What clients can do now?

    Two weeks after the Securities and Exchange Board of India (Sebi) has banned Karvy Stock Broking from taking new clients and executing trades, the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) have suspended the licence of the broker on Monday, citing non-compliance of the regulatory provisions of the exchanges. 

    The action followed leading bourse NSE forwarding a preliminary report to Sebi on the non-compliance observed with respect to the pledging/misuse of client securities by Karvy Stock Broking.

    Click here to read more on this.

Indian shares ended lower on Tuesday with the Nifty below 12,000 levels dragged by banking, metal and auto stocks. The Sensex ended 127 points lower at 40,675, while the Nifty50 index ended 54 points lower at 11,994.