0

0

0

0

0

0

0

0

0

This article is more than 1 year old.

CNBC-TV18 Market Highlights: Sensex, Nifty end flat as banks gain, autos drag

Mini

Indian shares pared morning gains to end flat on Friday after hitting record highs for the fourth straight session in intra-day deals. While buying was seen in banking stocks, autos witnessed selling during the day. 

CNBC-TV18 Market Highlights: Sensex, Nifty end flat as banks gain, autos drag
  • Thank you, readers! Here are the main highlights from today’s trading session##Thank you, readers! Here are the main highlights from today’s trading session


    - Sensex, Nifty and Nifty Banks End At Record Highs For FOURTH Consecutive Session


    - Nifty Ends Flat At 12,272, Sensex At 41,682 After A Rangebound Session


    - Banks Outperform With Nifty Bank Gaining 143 Points To 32,385


    - Market Breadth Favours Declines With Midcap Index Closing Flat At 16,906


    - PSU Bank Top Gaining Index After RBI Decides To Buy 10-yr Bonds


    - Autos, FMCG Drag Market While PSU Banks Support


    - Nestle, Titan Top Nifty Gainers On Likely ETF Flows On Sensex Entry


    - Cadila Health Up Nearly 2 percent After US FDA Clears Ahmedabad Unit


    - Bajaj Consumer Gains Over 3 percent After Jaideep Nandi Is Appointed CEO


    - Kolte Patil jumps 5 percent as Pabrai Investment Fund Increases Stake


    - Sensex Up 1.6 percent & Nifty 1.5 percent This Week, Biggest Weekly Gains In Nearly 2 Months


    - Nifty Bank Up Over 1 percent, Midcap Index Flat For The Week

  • Closing Bell: Sensex, Nifty end flat as banks gain, autos drag##Closing Bell: Sensex, Nifty end flat as banks gain, autos drag

    Indian shares pared morning gains to end flat on Friday after hitting record highs for the fourth straight session in intra-day deals. While buying was seen in banking stocks, autos witnessed selling during the day. Gains in heavyweights like HDFC Bank, SBI, and ICICI Bank were capped by losses in Kotak Bank, Reliance Industries, ITC, and HDFC.

    The BSE Sensex ended 8 points higher at 41,681, while Nifty settled 12 points higher at 12,272. During the week, the indices hit a record high for 4 out of 5 sessions. Both benchmark indices Sensex and Nifty gained over 1.5 percent each for the week.

    In intra-day deals, the Sensex rose as much as 136 points to hit a new high of 41,809.96, while the Nifty50 index gained 34 points to hit a fresh high of 12,293.90. The rally was driven by gains in state-run banks as investors cheered a central bank decision to conduct a special open market operation to bring down long-term yields.

    Titan, Tata Steel, UPL, SBI, and Nestle India were the top gainers on the Nifty50 index, up between 2-3.5 percent, while Vedanta, Kotak Bank, Tata Motors, ITC, and Eicher Motors led the losses. Most sectors gave positive returns for the day. Nifty PSU Bank rose the most, up 2.3 percent, followed by Nifty Media, which rose 1.2 percent. Nifty Bank and Nifty Realty also added 0.5 percent for the day, while Nifty Metal rose 0.6 percent. Meanwhile, Nifty Auto declined 0.4 percent, Nifty Pharma fell 0.3 percent, and Nifty Realty slipped 0.1 percent for the day.

  • Sharekhan bets on private corporate lenders in 2020, suggests top stock ideas
    CNBC-TV18 Market Highlights: Sensex, Nifty end flat as banks gain, autos drag
  • Fitch affirms India at BBB- with stable outlook##Fitch affirms India at BBB- with stable outlook

    Fitch Ratings on Friday said that India's GDP growth outlook looks stable. Expect FY20 GDP growth seen at 4.6 percent and FY21 growth at 5.6 percent, said the ratings agency. 

    Key highlights from the report are:

    - Expect growth to slow to 4.6 percent in FY20, from 6.8 percent in FY19
    - Expect growth to gradually recover to 5.6 percent in FY21 and 6.5 percent in FY22 
    - Expect growth recovery with support from easing monetary, fiscal policy & structural measures 
    - Outlook on India's GDP growth still solid against that of peers
    - Affirmation of ratings incorporates expectation of moderate fiscal slippage vs govt target of 3.3 percent of GDP in FY20
    - Govt again facing a trade-off between stimulating economy and reducing deficit in the medium term
    - Deceleration of nominal quarterly growth suggests further revenue pressure for rest of FY20
    - Risk of more significant fiscal loosening in the event of continued weak GDP growth
    - Expect general govt debt level of 70.4 percent of GDP in FY20; general government deficit of 7.5 percent  of GDP 
    - Consider it highly unlikely that govt will comply with general govt debt ceiling of 60 percent of GDP by FY25
    - Expect the RBI to cut its policy rate by another 65 bps in 2020
    - Positive impact of recent govt reforms likely to materialise in the medium term, rather than near term
    - A shake-out and return of confidence in NBFC sector will take time, may involve failure of some weak NBFCs
    - Indian banks generally have thin buffers to deal with continued systemic stress in the NBFC sector
    - Estimate banks are USD 7 billion short of the capital required 
    - Banks’ NPLs could build up again in the current weak economic environment

  • Dishman Carbogen share price plunges 12% after I-T searches##Dishman Carbogen share price plunges 12% after I-T searches

    Dishman Carbogen's shares tanked 12 percent on Friday after the income-tax department “searched and surveyed” company’s properties.

    According to a PTI report, 19 properties -- 12 residential and seven offices -- of the company, known as Dishman Group, were searched in Ahmedabad and around the city.

    The group mainly manufactures bulk drugs, APIs and is also involved in 'contract research' and manufacturing. 

  • Adani Ports share price climbs 2%##Adani Ports share price climbs 2%

    Shares of Adani Ports and Special Economic Zone rallied 2 percent intraday on Friday after Kotak Institutional Equities remained bullish on the stock, citing likely strong financials going forward.

    "The improved operating performance of group companies and recent stake sale are reassuring. Share pledges are stagnated and can decline meaningfully on stake-sale transactions. The balance sheet allows big additions to the business portfolio beyond Gujarat ports. Its outperformance in Gujarat brightens the prognosis for near-term financials," the research firm said.

    The brokerage has a buy call on the stock with a target price at Rs 450 per share, implying a 21 percent potential upside from current levels.

  • DCC approves Trai recommendation to not cut spectrum prices, auctions likely in May##DCC approves Trai recommendation to not cut spectrum prices, auctions likely in May

    In a setback for telecom companies, the Digital Communications Committee (DCC) has decided on Friday not to cut spectrum prices in line with the recommendation from the Telecom Regulatory Authority of India, sources told CNBC-TV18.

    Telecom companies had constantly requested the regulator and the Department of Telecommunications to reduce prices of the spectrum.

    The DoT had referred the issue back to Trai. However, the regulator had insisted that they would send the prices back at the same levels with no cuts.

    In the DCC meeting, which took place today, the resolution that has been passed with the understanding of the core members is that there will be no cut in spectrum prices as recommended by the TRAI.

    In October, Ravi Shankar Prasad, minister of communications and electronics and information technology, stated that he was confident that spectrum auctions will be conducted within this financial year.

    According to sources, it is incredibly unlikely to have these spectrum auctions in this current financial year and that it is likely in the month of May.

  • Here's a quick catchup on all live market action##Here's a quick catchup on all live market action

    1. Market enters into a volatile trade, with Sensex now at 41,722.03, up 48.11 points or 0.12 percent while Nifty50 was trading at 12,278.55, up 18.15 points or 0.15 percent. 

    2. Broader indices traded higher on Friday, with Nifty Midcap100 trading 0.31 percent higher while Nifty Smallcap100 was up 0.35 percent.

    3. Nifty PSU Bank was the best-performing index in this trading hour, up 2.18 percent while Nifty Pharma was trading lower by 0.11 percent. 

    4. YES Bank, Bharti Infratel, Coal India, Tata Steel and Zee Entertainment were the Nifty50 top gainers while Kotak Mahindra Bank, HDFC, Vedanta, ITC, and Reliance Industries were the top losers. 

  • Uday Kotak may pare stake in Kotak Mahindra Bank##Uday Kotak may pare stake in Kotak Mahindra Bank

    Uday Kotak is planning to pare down his stake in Kotak Mahindra Bank,  CNBC-TV18 has learnt. According to the sources, talks are on with large foreign institutional investors for promoters' stake sale to pare down anywhere between 5 percent and 10 percent in the bank.

    According to the RBI regulation, a promoter can hold up to a 20  percent stake. As of September, Kotak held a close to 30 percent stake. Uday Kotak had challenged RBI’s objection to the issue of preferential shares for promoter equity dilution. However, that the matter is still subjudiced and RBI has also levied a penalty of Rs 2 crore for non-compliance. 

    However, the bank's management in response said that as the matter is subjudice, they will not make comment on it.

    Kotak is considering to create a holding company model as an alternative plan. Under the holding company model, the bank and its subsidiaries can be transferred to a holding company and therefore, the stake will come down.

    RBI’s guidelines allow banks in the private sector to form a non-operative financial holding company (NOFHC) where a NOFHC can hold the stake in the bank, as well as, its other financial entities such as insurance, mutual funds(MFs), etc.

  • CRISIL's shares hit 52-week high##CRISIL's shares hit 52-week high

    The shares of CRISIL hit a 52-week high on Friday after the company board approved 100 percent acquisition of Greenwich Associates LLC and its subsidiaries.

    The acquisition is at a consideration of USD 40 million. The company believes that the acquisition will complement CRISIL' s existing portfolio of products and expand offerings to new segments across financial services.

    The deal will accelerate CRISIL's strategy to be the leading player in the growing market of global benchmarking analytics, the BSE filing said. 

  • Why robust Accenture earnings should not be extrapolated to Indian IT space?##Why robust Accenture earnings should not be extrapolated to Indian IT space?

    Exceeding its guidance of 5-8 percent growth in Q1FY20 by $160 million, Accenture grew by 7 percent in dollar terms, giving a good start to FY20.

    However, brokerage Nirmal Bang in a report stated that it remained cautious on Indian IT sector, adding that the leading performance of Accenture should not be extrapolated to the Indian players.

    Here's a detailed report on this.

  • NBFCs had a stormy 2019; hope 2020 brings in more structural solutions##NBFCs had a stormy 2019; hope 2020 brings in more structural solutions

    Defaults, bankruptcy, shrinking balance sheets. 2019 was a perfect storm for the non-banking finance companies, that continued to reel under the fallout of the IL&FS triggered a crisis.

    As per a recent Crisil report, the growth in assets under management of non-banks, including NBFCs and housing finance companies, is set to hit a decadal low of 6-8 percent for this fiscal, compared to 15 percent in FY19. Read more here.

  • Here's a quick catchup on all live market action##Here's a quick catchup on all live market action

    1. Market enters into a volatile trade, with Sensex now at 41,752.33, up 81.90 points or 0.20 percent while Nifty50 was trading at 12,285.40, up 25.70 points or 0.21 percent. 

    2. Broader indices held gains on Friday, with Nifty Midcap100 trading 0.20 percent higher while Nifty Smallcap100 was up 0.25 percent.

    3. Nifty PSU Bank was the best-performing index in this trading hour, up 2.02 percent while Nifty FMCG was trading lower by 0.31 percent. 

    4. Bharti Infratel, YES Bank, SBI, Hero MotoCorp and Adani Ports were the Nifty50 top gainers while ITC, Vedanta, Kotak Mahindra Bank, HDFC and GAIL were the top losers. 

  • LemonTree Hotels share price surges 5%##LemonTree Hotels share price surges 5%

    The share price of LemonTree Hotels surged 5 percent intraday after the company announced their international debut, with the launch of a hotel in Dubai. 

    The hotel and hospitality services chain recently owned Al Waleed Real Estate LLC in Dubai, which has 114 rooms with various facilities. The LemonTree hotel is situated very close to Burj Al Arab, Kite beach and the Mall of Emirates, said Rattan Keswani, Deputy Managing Director of LemonTree Hotels. 

    At 10:20 am, the shares were trading 2.99 percent higher to Rs 62 per share on the NSE while on an intraday basis, the stock price surged 5 percent at Rs 62.70.

  • JM Financial's shares rise 5%##JM Financial's shares rise 5% 

    JM Financial's shares were trading nearly 5 percent higher on an intraday basis after the company board approved to raise capital and increases the FPI investment limit.

    In its BSE regulatory filing, the company said that it will raise funds via an issue of equity shares or QIPs, private placement, preferential issue, public issue, rights issue or through any other medium. The aggregate amount raised would be at Rs 850 crores. 

    The company will also increase investments by FPIs to 40 percent from 24 percent of paid-up equity share capital. 

    At 9:50 am, the shares were trading 3.37 percent higher to Rs 95 per share on the NSE while on an intraday basis, the share price rose 5 percent at Rs 96.40.

  • RBI announces auction of government bonds worth Rs 10,000 crore to boost liquidity##RBI announces auction of government bonds worth Rs 10,000 crore to boost liquidity

    The Reserve Bank of India (RBI) on Thursday announced for simultaneous sale and purchase of government securities worth Rs 10,000 each via open market operations (OMO). The sale and purchase of government securities will happen through an auction on December 23 to infuse liquidity.

    "After reviewing the current liquidity and market scenario, the RBI has decided to conduct simultaneous purchase and sale of government securities under OMO for Rs 10,000 crore each on December 23, 2019," the central bank notified on Thursday.

    The central bank will purchase 6.45 percent of the G-Sec 2029 bond, aggregating to Rs 10,000 crore using the multiple price auction method. Meanwhile, it will sell four G-Secs of the 2020 series.

    Here's link to the full article.

  • Top stock recommendations by Ashwani Gujral for Friday##Top stock recommendations by Ashwani Gujral for Friday

    - Buy JSPL with a stop loss of Rs 150, target at Rs 162

    - Buy Bharti Airtel with a stop loss of Rs 445, target at Rs 470

    - Buy Eicher Motors with a stop loss of Rs 22,000, target at Rs 23,200

    - Buy Escorts with a stop loss of Rs 622, target at Rs 640

    - Buy Avanti Feeds with a stop loss of Rs 570, target at Rs 605


    Click here for buy-sell calls by Mitessh Thakkar, Prakash Gaba 

  • Rupee opens lower versus yesterday's close##Rupee opens lower versus yesterday's close

  • Tata Sons may be classified as ‘public company' by RoC, says report##Tata Sons may be classified as ‘public company' by RoC, says report

    The Registrar of Companies (RoC) may change Tata Sons’ classification to a ‘public company’ from a ‘private company’ and it is studying the judgment by the National Company Law Appellate Tribunal (NCLAT) on the Tata-Mistry dispute, reported Economic Times. The report said that Mistry’s legal team is believed to be in touch with RoC officials to ensure the change happens quickly. READ MORE

  • Now let's take a look at top stocks to watch out for on December 20##Now let's take a look at top stocks to watch out for on December 20


    Bajaj Finance has acquired upon 24 lakh equity shares of face value of Rs 10 each representing 10 percent of the paid-up share capital of Karvy Data Management Services (KDMS) by invoking pledged for recovery of its dues from Karvy Stock Braking Ltd (KSBL).

    NMDC: The government has allocated two coal blocks to NMDC, the Rohne and Tokisud North in Jharkhand for commercial mining. The Rohne coal block has extractable reserves of 191 million tonnes and planned production capacity of 8 million tonnes per annum. The Tokisud North coal block has extractable reserves of about 52 million tonnes of thermal coal and planned production capacity of 2.32 million tonnes per annum.

    Click here for more

  • Top brokerage calls for December 20: Macquarie bearish on Britannia; JPMorgan 'overweight' on UPL

    CNBC-TV18 Market Highlights: Sensex, Nifty end flat as banks gain, autos drag
  • UTI AMC files IPO papers with SEBI to raise about Rs 3,000 crore##UTI AMC files IPO papers with SEBI to raise about Rs 3,000 crore

    UTI AMC, the country's largest asset management company in terms of total AUM, has filed draft red herring prospectus (DRHP) with the capital market regulator Securities & Exchange Board of India (Sebi) for initial public offering (IPO) to raise a little over Rs 3,000 crore.

    The UTI AMC IPO of 3,89,87,081 shares, comprises of offer for sale of up to 1,04,59,949 shares by State Bank Of India, up to 1,04,59,949 shares by Life Insurance Corporation Of India, up to 1,04,59,949 shares by Bank Of Baroda, up to 3,803,617 shares by Punjab National Bank and up to 3,803,617 shares by T Rowe Price International, according to the DRHP.

    The public offer is expected to raise a little over Rs 3,000 crore, market sources said.

    The US-based T Rowe Price holds 26 percent stake in the asset management company.

    Kotak Mahindra Capital, Axis Capital, CitiBank, DSP Merrill Lynch, ICICI Securities, JM Financial and SBI Capital Markets are the book running lead managers to the offer.

    The shares of the company are proposed to be listed on the BSE and the NSE.

    As of September 30, 2019, the company had the largest share of monthly average AUM.

  • Roundup 2019: Chemicals give handsome returns, Deepak Nitrite climbs 64% this year##Roundup 2019: Chemicals give handsome returns, Deepak Nitrite climbs 64% this year

    The year 2019 remained turbulent throughout for the stock market, testing the returns on selective few bluechips from all sectors. Apart from the main sectors, there are niche industries that have also delivered the best returns so far. The chemical space is the one industry that will regain its momentum despite moments of stagnancy. READ MORE

  • MarketBuzz Podcast with Sonia Shenoy: Sensex, Nifty likely to open flat; Bajaj Finance, NMDC, LemonTree Hotels in focus
    Indian shares are expected to open little changed on Friday tracking muted trends in global markets amid thin trades due to the upcoming holiday season.Get latest Market online at cnbctv18.com
    CNBC-TV18 Market Highlights: Sensex, Nifty end flat as banks gain, autos drag
  • Moving on, to the Roundup 2019: FMCG sector saw the worst year##Moving on, to the Roundup 2019: FMCG sector saw the worst year

    With liquidity squeeze, a slowdown in the agriculture sector, and uncertainty over sustainable incomes and job stability, 2019 will be remembered as the year which saw the worst slowdown for the FMCG sector in over a decade, according to a report.

    Noting severe demand crunch in the space, a Credit Suisse report released in September said that FY20 was likely to be the year of worst revenue growth for India's FMCG sector since 2000-03. The liquidity squeeze, a slowdown in the agri sector, uncertainty over sustainable incomes and job stability have made people cautious about their consumption habits.

    Click here to read more on this article here.

Indian shares pared morning gains to end flat on Friday after hitting record highs for the fourth straight session in intra-day deals. While buying was seen in banking stocks, autos witnessed selling during the day.