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CNBC-TV18 Market Highlights: Sensex settles over 350 points higher, Nifty ends at 12,089; Tata Motors surges 10%

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CNBC-TV18 Market Highlights: Domestic stock markets closed Wednesday's session on a positive note, as broader Asian shares rose on hopes of further stimulus from China to stem the impact of the coronavirus outbreak. The Sensex gained 353.28 points, or 0.87 percent, to settle Wednesday's trade at 41,142.66. The Nifty rose 109.45 points, or 0.91 percent, to end at 12,089.15. The Nifty MidCap 100 index rose 1.15 percent, while the banking gauge, Nifty Bank advanced 1.03 percent:

CNBC-TV18 Market Highlights: Sensex settles over 350 points higher, Nifty ends at 12,089; Tata Motors surges 10%
  • Closing bell: Sensex settles 353 points higher, Nifty ends at 12,089##Closing bell: Sensex settles 353 points higher, Nifty ends at 12,089

    The Sensex gained 353.74 points, or 0.87 percent, to settle Wednesday's trade at 41,143. The Nifty rose 113.10 points, or 0.94 percent, to end at 12092.80. The Nifty MidCap 100 index rose 1.18 percent, while the banking gauge, Nifty Bank advanced 1.10 percent. READ MORE

  • Apollo Tyres share price surge 4% post Q3FY20 earnings##Apollo Tyres share price surge 4% post Q3FY20 earnings

    The stock price of Apollo Tyres surged nearly 4 percent intraday after the company's margin rises 90bps YoY. 

    The consolidated net profit slipped 12.29 percent YoY to Rs 174 crore in the third quarter of the fiscal year. Consolidated revenue fell 6.8 percent YoY to Rs 4,399 crore as against Rs 4,718 crore in the same quarter last year. 

    EBITDA was up 1 percent YoY and the margin expanded by 90bps YoY to 12.1 percent. 

  • Ministry of Corporate Affairs orders inspection of Zee Entertainment's books##Ministry of Corporate Affairs orders inspection of Zee Entertainment's books

    Ministry of Corporate Affairs has ordered an inspection of the financial statements and books of accounts of Zee Entertainment Enterprises Limited (ZEEL) after looking into complaints raised by shareholders and independent directors.

    "The inspection has been ordered under Section 206 (5) of The Companies Act. Western Regional Director of the Ministry has been assigned the inspection," sources added.

    Section 206 of Companies Act refers to the power to call for information, inspect books and conduct inquiries.

    Click here to read more 

  • Makes no economic sense to buy diesel cars post-subsidy removal, says ED Maruti Suzuk##Makes no economic sense to buy diesel cars post-subsidy removal, says ED Maruti Suzuki

    Shashank Srivastava, ED of Maruti Suzuki India is of the clear view that here is no economic sense for consumers to buy diesel cars anymore because the price difference between petrol and diesel has narrowed significantly after removal of diesel subsidies.

    Here's more on this story here

  • IRCTC’s shares rally nearly 10% post-Budget##IRCTC’s shares rally nearly 10% post Budget

    The stock price of Indian Railways Catering and Tourism Corporation rallied over 9 percent intraday after Finance Minister Nirmala Sitharaman announced that more Tejas-like trains will be coming in the future. Also, the Competition Commission of India absolved IRCTC of all the allegations of unfair market practices.

    Intraday, the stock jumped 9.55 percent at Rs 1,547.80 per share on the NSE. Since January 1, the stock has climbed 64 percent to its day’s high.

  • Cipla Q3FY20 earnings today: Here's what to expect##Cipla Q3FY20 earnings today: Here's what to expect

    Cipla will be releasing its Q3 earnings on Wednesday.

    Cipla has been an underperformer as compared to the Nifty index. The pharma giant's stock witnessed a decline after its Goa plant was flagged late last month. So the street will be watching out for commentary with regards to the official action indicated (OAI) action on the Goa plant very closely.

    Separately, revenue is expected to grow in single digits, while margins are expected to come in at about 18-19 percent. READ MORE HERE

  • Bharat Wire Ropes stock price rally 20% after a major bulk deal##Bharat Wire Ropes stock price rally 20% after a major bulk deal






    The share price of Bharat Wire Ropes hit the upper circuit on Wednesday after Raamdeo Agrawal, the co-founder of Motilal Oswal Financial Services, bought 9,42,109 shares of the company through a bulk deal on NSE on February 4, data available with the exchange showed.

    The transaction was carried out at an average price of Rs 26.25 per share, taking the total value of the purchase to nearly Rs 2.47 crore.

    At 11:50 am, the shares were trading 14.39 percent higher to Rs 32.50 per share on the NSE.

  • Granules shares surge over 6% post US FDA approval##Granules shares surge over 6% post US FDA approval

    The stock price of Granules India surged over 6 percent intraday after US Food and Drug Administration approved the Abbreviated New Drug Application (ANDA) filed by Granules Pharmaceuticals, Inc., a wholly-owned foreign subsidiary of Granules India Limited for Valganciclovir Hydrochloride for Oral Solution, 50 mg/mL. It is bioequivalent to the reference listed drug product (RLD), Valcyte for Oral Solution, 50 mg/mL, of Roche Palo Alto LLC.

    Valganciclovir Hydrochloride solution is an antiviral medication used to treat cytomegalovirus infections.

    At 11:25 am, the share price was 5.34 percent to Rs 153.80 per share on the NSE. 

  • Tata Global Beverages share price jumps over 7% intraday, hits record-high##Tata Global Beverages share price jumps over 7% intraday, hits record-high

    Tata Global Beverages share price rallied over 7 percent intraday after the company reported healthy third-quarter earnings. 

    At 11 am, the shares were trading 3.47 percent higher to Rs 393.10 per share on the NSE while on intraday, the share price rallied 7.36 percent at Rs 408. The stock hit its 52-week high today. 

    The joint venture business of Tata Starbucks recorded consolidated net profit growth of 24.76 percent year-on-year (YoY) at Rs 135.85 crore, aided by higher sales and lower tax rate. 

    Revenue from operations in the third quarter stood at Rs 1,961.9 crore as compared with Rs 1,912.58 crore in the corresponding period last fiscal.

    During the quarter, the company opened 28 new stores and now has 174 stores spread across 11 cities in India. 

  • Goldman Sachs sees India as better growth story among EMs, pegs Nifty target at 13,000##Goldman Sachs sees India as better growth story among EMs, pegs Nifty target at 13,000

    There is risk aversion towards global equities due to coronavirus in China, with Asian equities falling between 5 percent and 10 percent, but the Latin America and other emerging markets are defensive, said Caesar Maasry, head of emerging markets-cross asset research and managing director, at Goldman Sachs. "When you have a significant shock like this, the EM as an asset class trades lower, together," he said.

    Watch our exclusive interview with Caesar Maasry here

  • RBI to hold fire in February policy: CNBC-TV18 poll##RBI to hold fire in February policy: CNBC-TV18 poll

    After the Union budget, all eyes are now on the Reserve Bank of India as it gets set to announce the last policy for this financial year.

    A CNBC-TV18 poll among ten economists suggests that the Monetary Policy Committee may maintain a status quo on rates for the second consecutive policy, on the back of rising retail inflation. The last reading on headline retail inflation for the central bank was an uncomfortable 7.35 percent for December.

    Click here to read more

  • Top stock tips by Ashwani Gujral, Sudarshan Sukhani, Mitessh Thakkar for Wednesday##Top stock tips by Ashwani Gujral, Sudarshan Sukhani, Mitessh Thakkar for Wednesday

    Market experts Ashwani Gujral of ashwanigujral.com, Sudarshan Sukhani of s2analytics.com and Mitessh Thakkar of mitesshthakkar.com gave their top stock ideas for Wednesday’s trade.

    Ashwani Gujral

    Titan- buy with a stop of 1260, tgt 1310

    Motheson- buy with a stop of 130, tgt 141. READ MORE HERE

  • CNBC-TV18's top stocks to watch out for on February 5
    Indian shares are likely to open little changed on Wednesday following flat trading in global markets. Investors also await RBI monetary policy announcement on Thursday.
    CNBC-TV18 Market Highlights: Sensex settles over 350 points higher, Nifty ends at 12,089; Tata Motors surges 10%
  • Commodities Corner: Crude oil at 13-month lows, gold prices slide 1%##Commodities Corner: Crude oil at 13-month lows, gold prices slide 1%

    1. Safe havens decline as risk appetite grows
    2. JPY, CHF, Gold prices decline
    3. China takes measures to contain economic impact from Virus
     
    Gold prices slide 1% as USD strengthens
    1. Prices at 2-week lows 
    2. Rebound in global equities 
    3. Gold expected to trade within $1550 - $1600
     
    Crude oil prices at 13-month lows 
    1. Energy demand to take a hit from virus outbreak
    2. OPEC considering cutting crude output further by 0.5mln bpd
    3. Russia oil min said he was uncertain on time to tighten output 

  • Government working on proposal to allow 100% FDI in Air India##Government working on proposal to allow 100% FDI in Air India

    The government is working on a proposal to allow 100 percent foreign direct investment in Air India as it moves ahead with disinvestment of the national carrier, according to sources.

    Currently, FDI in Air India is capped at 49 percent through the government approval route while 100 percent FDI is permitted in scheduled domestic carriers, subject to certain conditions, including that it would not be applicable for overseas airlines.

    Allowing 100 percent FDI in Air India would allow Non-Resident Indians (NRIs) to invest up to 100 percent. Currently, they can acquire only 49 percent in the national carrier.

    Click here to read more.

  • Government says TDS at 10% for mutual fund income above Rs 5,000##Government says TDS at 10% for mutual fund income above Rs 5,000

    The tax department on Tuesday clarified that the budget proposal of 10 percent TDS will be applicable only on dividend payment by mutual funds and not on the gain arising out of redemption of units.

    Union finance minister Nirmala Sitharaman had in Budget 2020-21 scrapped dividend distribution tax (DDT) paid by companies and mutual funds on dividend paid to shareholders or unitholders.

    In place, it was proposed to levy tax deducted at source (TDS) of 10 percent on dividend/income paid by a company or mutual fund to its share/unitholder if the amount of such dividend/income exceeds Rs 5,000 in a year.

    In a statement, the Central Board of Direct Taxes (CBDT) said queries have been raised if the mutual fund would be required to deduct TDS also on the capital gains arising on redemption of units.

    "It is hereby clarified that under the proposed section, a mutual fund shall be required to deduct TDS at 10 percent only on dividend payment and no tax shall be required to be deducted by the mutual fund on income which is in the nature of capital gains," it said.

    It went on to state that necessary clarification if required, shall be proposed in the relevant provision of the law.

  • Asian stocks edge up, safe-havens pullback on hopes for China stimulus##Asian stocks edge up, safe-havens pullback on hopes for China stimulus

    Asian stocks steadied on Wednesday on hopes of additional Chinese stimulus to lessen the economic impact of a coronavirus outbreak, but risks remain as the illness continues to spread and the death toll neared 500. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.3 percent. Australian shares were up 0.58 percent, while Japan's Nikkei stock index rose 1.19 percent.

    The safe-haven yen and Swiss franc nursed losses versus the dollar while the yuan held on to gains in offshore trade in a tentative sign of improvement in risk appetite as investors monitor the impact of the virus.

    Oil prices, however, remained weak on worries about a long-term dent in demand for energy and other commodities despite hopes for more output cuts from OPEC and its allies. Here's more on the story.

  • Here is what happened in the world while you were sleeping##Here is what happened in the world while you were sleeping

    Alright, let us prep you quickly with everything that you should know before the market opens. Indian equity markets are expected to open steady on Wednesday over hopes of an additional Chinese stimulus to ease the economic meltdown impacted by the coronavirus outbreak. The RBI's Monetary Policy Committee meeting on Thursday will be closely monitored by the domestic market participants today.

    Asian Markets: Asian stocks steadied on Wednesday on hopes of additional Chinese stimulus to lessen the economic impact of a coronavirus outbreak, but risks remain as the illness continues to spread and the death toll neared 500. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.3 percent. Australian shares were up 0.58 percent, while Japan's Nikkei stock index rose 1.19 percent.

    Crude Oil: Oil prices rose on Wednesday, reversing out of a 1 percent slump in the previous session, boosted by producers weighing further output cuts to counter a potential squeeze on global oil demand resulting from China's fast-spreading coronavirus.

    To read more, check out this article.

  • First up, here is quick catchup of what happened in the markets on Tuesday##First up, here is quick catchup of what happened in the markets on Tuesday

    Domestic stock markets closed Tuesday's session sharply higher, recording their best day since last September, tracking global gains and the recent slide in crude prices. Investors opted for low-level buying in beaten-down stocks. Gains in energy, metal, financial services, and banking stocks led the markets higher.

    Markets had taken comfort after China said it would welcome assistance from the United States to fight the coronavirus outbreak, as the death toll in China jumped to more than 420. READ MORE

  • Welcome to CNBC-TV18's Market Live Blog##Welcome to CNBC-TV18's Market Live Blog

    Good morning, readers! This is Mousumi Paul. I am a sub-editor at CNBCTV18.com. 

    Welcome to our market blog, where we provide rolling live news coverage of the latest events in the stock market, business and economy. We will also get you instant reactions and guests from our stellar lineup of TV guests and in-house editors, researchers, and reporters.

    If you are an investor, here is wishing you a great trading day. If you are in need of some inspiration, here is this great quote from Warren Buffett to get you started. Good luck!

    CNBC-TV18 Market Highlights: Sensex settles over 350 points higher, Nifty ends at 12,089; Tata Motors surges 10%
CNBC-TV18 Market Highlights: Domestic stock markets closed Wednesday's session on a positive note, as broader Asian shares rose on hopes of further stimulus from China to stem the impact of the coronavirus outbreak. The Sensex gained 353.28 points, or 0.87 percent, to settle Wednesday's trade at 41,142.66. The Nifty rose 109.45 points, or 0.91 percent, to end at 12,089.15. The Nifty MidCap 100 index rose 1.15 percent, while the banking gauge, Nifty Bank advanced 1.03 percent: