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CNBC-TV18 Market Highlights: Market ends the year on a weak note, Sensex down 300 points; Nifty below 12,170

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CNBC-TV18 Market Highlights: Indian equity benchmark indices ended the year on a weak note amidst profit booking and weak global cues. Markets continued to trade lower despite Finance Minister Nirmala Sitharaman's announcement of Rs 105 lakh crore national infra pipeline. At the closing bell, the Sensex ended the session 304.26 points or 0.73 percent lower at 41,253.74 while the Nifty50 ended at 12,168, down 87.40 points or 0.71 percent.

CNBC-TV18 Market Highlights: Market ends the year on a weak note, Sensex down 300 points; Nifty below 12,170
  • Closing Bell: Sensex closes 300 points lower, Nifty at 12,176; Zee Entertainment remained the top loser##Closing Bell: Sensex closes 300 points lower, Nifty at 12,176; Zee Entertainment remained the top loser

    Indian equity benchmark indices ended the year on a weak note amidst profit booking and weak global cues. Markets continued to trade lower despite Finance Minister Nirmala Sitharaman's announcement of Rs 105 lakh crore national infra pipeline. 

    At the closing bell, the Sensex ended the session 304.26 points or 0.73 percent lower at 41,253.74 while the Nifty50 ended at 12,168, down 87.40 points or 0.71 percent.

    For the year, the Sensex rose 14 percent and the Niifty50 rallied 12 percent, giving the best returns since 2017. Both benchmarks hit multiple record highs this year and have gained sharply more than in 2018, even as economic growth slipped to a five-year low this year amid a slowdown in demand. Both indices gained around 3 percent in 2018.

    Nifty50 top gainers were Coal India, NTPC, GAIL, Grasim and Tata Motors while Zee Entertainment, Tech Mahindra, Bajaj Auto, Reliance Industries and Eicher Motors were the top losers. 

    Among the sectors, the Auto and IT index fell the most. About 1351 shares have advanced, 1184 shares declined, and 185 shares are unchanged.

  • Finance Minister Nirmala Sitharaman announces Rs 105 lakh crore investment in national infra pipeline##Finance Minister Nirmala Sitharaman announces Rs 105 lakh crore investment in national infra pipeline

  • BSE Indices Update: Only 3 out of 30 stocks trade in the green just before the closing bell##BSE Indices Update: Only 3 out of 30 stocks trade in the green just before the closing bell

    NTPC, Sun Pharma and ONGC were the only BSE S&P Sensex stocks that were trading in the green. 27 BSE stocks traded in the red with Tech Mahindra as the index top loser. 

    CNBC-TV18 Market Highlights: Market ends the year on a weak note, Sensex down 300 points; Nifty below 12,170
  • Bank of India looking to acquire AXA's stake in BoI AXA Mutual Fund##Bank of India looking to acquire AXA's stake in BoI AXA Mutual Fund

    Bank of India is looking to increase holdings in its asset management unit BOI AXA Mutual Funds and is in talks with partner AXA Investment Managers the remaining stake in the AMC, sources told CNBC-TV18.

    BOI AXA MF is a joint venture between Bank of India and AXA Investment Managers. BoI owns about 51 percent stake, while AXA holds 49%.

    The discussions are at a very nascent stage currently, they said. The consultation with regulators and the foreign partner is expected to start by the end of March 2020 and the deal is likely to close in the first half of the next financial year, sources added.

    Click here for more

  • Here's a quick catch up post on what happened in the markets so far##Here's a quick catch up post on what happened in the markets so far


    1. Indian markets held losses on Tuesday echoing muted trading activities amid the holiday season in major global markets.

    2. At 2:35 pm, the Sensex traded 162 points or 0.39 percent lower at 41,397.33 while the Nifty50 was at 12,211, down 44.85 points or 0.37 percent.

    3. Coal India, NTPC, GAIL, Tata Motors and Axis Bank were the Nifty50 top gainers while Zee Entertainent, Tech Mahindra, Bajaj Auto, YES Bank and IndusInd Bank were the top losers. 

    4. Nifty Realty was the best-performing sector in this hour of trade, up 0.67 percent while Nifty Media remained the worst-performing sector, down 0.96 percent. 

  • Indiabulls Housing Finance to buy back bonds maturing in 2021, says MD Gagan Banga##Indiabulls Housing Finance to buy back bonds maturing in 2021, says MD Gagan Banga

    There is a significant change in the overall sentiment and the way the markets are approaching large non-banking financial companies and housing finance companies, said Gagan Banga, vice chairman and managing director of Indiabulls Housing Finance.

    Banga said the last couple of months have been extremely strong for Indiabulls Housing Finance after the government of India filed an affidavit in the Delhi High Court in favour of the company.

    “The results will be out in a few weeks, but access to funding and all of those issues are behind both the companies and I would imagine a large part of the sector as well,” he added.

    Read here for more

  • In the year of economic slowdown, here's how December auto sales look for major automakers
    According to a CNBC-TV18 poll of three brokerages, Maruti Suzuki's sales are expected to grow by 3.1 percent on a year-on-year basis to come in at 1.32 lakh units.
    CNBC-TV18 Market Highlights: Market ends the year on a weak note, Sensex down 300 points; Nifty below 12,170
  • Stars of 2019: Here’s why Adani Group stocks rallied this year##Stars of 2019: Here’s why Adani Group stocks rallied this year

    The end of the year is the perfect time to talk about the stocks which outperformed through the year. And Adani Group stocks are on that list.

    Most of the Adani Group stocks have had a stellar 2019. The group as a whole crossed Rs 2 lakh crore market cap for the first time this year. Over the last five years, Adani Group has been consistently generating wealth for its investors, delivering a compounded annual growth of around 20 percent since April 2013.

    Here's the link to the article 

  • Here's a quick catch up post on what happened in the markets so far##Here's a quick catch up post on what happened in the markets so far

    1. Markets extended losses on Tuesday due to muted trading activities amid the holiday season in major global markets.

    2. At 1 pm, the Sensex traded 115 points or 0.28 percent lower at 41,443.24 while the Nifty50 was at 12,223, down 32 points or 0.26 percent.

    3. GAIL, Coal India, NTPC, Axis Bank, and Bharti Infratel were the Nifty50 top gainers while Zee Entertainent, Tech Mahindra, Bajaj Auto, IndusInd Bank and Reliance Industries were the top losers. 

    4. Nifty Realty was the best-performing sector in this hour of trade, up 0.62 percent while Nifty Media remained the worst-performing sector, down 0.64 percent. 

  • Outlook 2020: Top 5 sectors Religare Broking is bullish on for next year##Outlook 2020: Top 5 sectors Religare Broking is bullish on for next year

    The year  2019 was definitely an eventful one for the markets as a number of crucial events unfolded and new challenges emerged on both global as well as domestic front. This led to increased volatility in the Indian markets. In terms of performance, while the benchmark indices remained resilient and scaled new highs, the broader markets struggled to make a mark and underperformed. This is the second consecutive year where only a few select large caps have outperformed and rightly so as a number of negative factors outweighed the positive thereby restricting the rally of broader markets.

    Click here to read more

  • Stars of 2019: Here's why Bharti Airtel performed well this year after 40% decline in 2018##Stars of 2019: Here's why Bharti Airtel performed well this year after 40% decline in 2018

    As the year ends today, we take a look at some stocks that performed throughout the year. One such stock is Bharti Airtel. 

    2018 wasn’t a great year for Bharti Airtel as the stock fell 40 percent. Therefore, the 2019 performance included recovering from the losses.

    What benefited the stock was its competitor – Vodafone Idea – weakening and the street seeing the possibility of the industry heading towards a duopoly. Add to that the statements from Kumar Mangalam Birla. Birla said they will have to shut shop if there is no government relief. READ MORE

  • Here's a quick catch up post on what happened in the markets so far##Here's a quick catch up post on what happened in the markets so far

    1. Markets extended losses on Tuesday due to muted trading activities amid the holiday season in major global markets.

    2. At 11:53 am, the Sensex was trading 107.40 points or 0.26 percent lower at 41,452.74 while the Nifty50 index was at 12,225.20, down 26.35 or 0.21 percent. 

    3. Coal India, GAIL, Axis Bank, NTPC and Bharti Infratel were the Nifty50 top gainers while Tech Mahindra, Bajaj Auto, IndusInd Bank, Kotak Mahindra Bank and Eicher Motors were the top losers. 

    4. Nifty Realty was the best-performing sector in this hour of trade, up 0.57 percent while Nifty Auto remained the worst-performing sector, down 0.63 percent. 

  • Axis Bank bolsters Senior Leadership through appointments in strategic roles##Axis Bank bolsters Senior Leadership through appointments in strategic roles


    Axis Bank reinforced the strength of its senior leadership through the appointments of key personnel in two strategically important roles.

    Axis Bank announced the appointment of Naveen Tahilyani as the Group Executive – Head Banking Operations and Transformation, effective 6th January 2020, to lead Operations, Technology, Strategy and Analytics (BIU). 

    Additionally, the Board of Directors of the Bank approved the appointment of Amit Talgeri as the Chief Risk Officer (CRO) of the Bank, for a period of three years, with effect from 1st January 2020. Cyril Anand, the incumbent CRO will retire from the services of the Bank, with effect from close of business hours today, i.e. 31st December 2019.

    Both, Naveen Tahilyani and Amit Talgeri shall report to Amitabh Chaudhry, Managing Director & CEO of the Bank.

  • Roundup 2019: These were the best and worst-performing sectors of the year##Roundup 2019: These were the best and worst-performing sectors of the year

    Despite periodic bouts of volatility, the benchmark indices Sensex and Nifty rallied 15 percent and 13 percent, respectively in 2019. The market rally was largely supported by inflows from foreign institutional investors (FII), coaxed by policy easing by the government. In the last three months alone, FIIs invested around $3 billion.

    However, the market run was far from widespread because only a few companies have been driving up the sentiment.  Sample: FIIs limited their appetite for investment to large caps and quality companies.

    Only three sectors managed to outperform benchmarks during the year while six sectors generated negative returns. Read more on this here

  • Nava Bharat Ventures climbs over 8% as management expects profitability to improve in FY21##Nava Bharat Ventures climbs over 8% as management expects profitability to improve in FY21

    Nava Bharat Ventures jumped more than 8 percent intraday on Tuesday after the company's management forecast that the profit will improve in FY21.

    At 9:52 am, the shares were trading 5.90 percent higher at Rs 76.30 per share on the NSE. On an intraday basis, the stock price surged 8.33 percent to Rs 77.75.

    In an exclusive interview with CNBC-TV18, Executive Director of Nava Bharat Ventures, GRK Prasad, said, "Tariff hike in Zambia is positive for the company and will improve the financial health of the discoms. Expect profitability and power business performance to improve in FY21."

    He further added that not only will the receivables from Zambia discom come down but the monthly payments will also be regularised. The stock has been underperforming for the past few months due to its receivables.

    In 2016, the company commissioned its first overseas thermal power project of 300MW in Zambia.

  • Outlook 2020: Top stock recommendations from 10 brokerages for new year
    Benchmark indices scaled fresh lifetime highs multiple times in 2019 and gave returns in double digits amid volatility. Global and domestics factors such as economic slowdown, US-China trade war, RBI rate cuts, liquidity crunch and corporate tax cuts guided markets through 2019.
    CNBC-TV18 Market Highlights: Market ends the year on a weak note, Sensex down 300 points; Nifty below 12,170
  • GRK Prasad from Nava Bharat Ventures expects profitability to improve in FY21##GRK Prasad from Nava Bharat Ventures expects profitability to improve in FY21

    Nava Bharat Ventures share price climbed over 8 percent intraday on Tuesday after the company's management forecasted profits to improve in FY21.

    At 9:52 am, the shares were trading 5.90 percent higher to Rs 76.30 per share on the NSE while on an intraday basis, the stock price surged 8.33 percent at Rs 77.75.I

    n an exclusive interview with CNBC-TV18, Executive Director of Nava Bharat Ventures GRK Prasad said, "Tariff hike in Zambia is positive for the company and will improve the financial health of the discoms.

    Expect profitability and power business performance to improve in FY21. "He further added that not only will the receivables from Zambia discom come down but the monthly payments will also be regularized.

    In the recent few months, the stock price has been an overhang due to its receivables. In 2016, the company commissioned its first overseas thermal power project of 300MW in Zambia.

  • Chalet Hotels share price surges over 11 percent##Chalet Hotels share price surges over 11 percent

    Shares of Chalet Hotels surged over 11 percent in the early trade on Tuesday after it entered into five new agreements extending their collaboration with Marriott International Inc. for over 1,500 keys in luxury and upper‐upscale hotel segment India.

    At 9:25 am, the stock gained 8.29 percent to Rs 384.60 as against the previous close of Rs 355.15 on the BSE.

    Under the agreement, Chalet would build hotels & extend contracts across brands such as W, Westin & Marriott Executive Apartment in Hyderabad & Mumbai.

    The agreements are for an upcoming 170-keys Westin hotel in Hyderabad that is expected to be commissioned in 2020, a new 150-room ‘W Mumbai Powai Lake’ hotel in Powai, Mumbai which is expected to be ready in 2023, renewal of contract for an existing Westin hotel for 15 years, brand revamp of Chalet's Renaissance hotel in Mumbai to Westin Mumbai Powai Lake, and a new contract for Chalet's Lake Side Marriott Executive Apartments for 15 years.

    “The 1500+ keys come at a time when the demand and supply arbitrage is favorable for the industry, providing exciting growth opportunities for both companies,” Chalet Hotels said.

  • Rupee opens stronger compared the previous close of 71.31/$##Rupee opens stronger compared the previous close of 71.31/$

  • DHFL creditors submit claims worth Rs 87,000 crore to resolution professional##DHFL creditors submit claims worth Rs 87,000 crore to resolution professional

    The RBI-appointed administrator on Monday met the committee of creditors (CoC) of Dewan Housing Finance and discussed the resolution plan for the crippled lender and the Rs 87,905.6 crore worth of claims received from banks, employees and bond holders, sources said. The administrator, R Subramaniakumar, met the committee of creditors for the first meeting after the stressed financier was admitted for insolvency proceedings on December 2. "This was the first meeting of CoC. The RP (administrator) discussed about the resolution plan and the way forward," a banker who attended the meeting said. All DHFL creditors, including banks, bondholders, insurance and mutual fund companies attended the meeting. READ MORE

  • Gold prices steady, set for best year since 2010##Gold prices steady, set for best year since 2010


    Gold prices were steady on Tuesday, holding below a more than two-month peak hit in the previous session, as weakness in the dollar countered optimism about the United States and China signing an interim trade deal soon. Spot gold was little changed at $1,515.23 per ounce by 0044 GMT. Prices hit their highest since October 25 at $1,516.20 in the previous session. US gold futures were unchanged at $1,518.30. Gold prices are set to post their best year since 2010, having gained about 18 percent, mainly driven by a tariff war between the world’s two largest economies and quantitative easing by major central banks. READ MORE

  • Oil prices hit 3-month high on upbeat data, Middle East tension##Oil prices hit 3-month high on upbeat data, Middle East tension

    Oil prices rose on Monday to three-month highs, lifted by optimism over an expected China-US trade deal and upbeat industrial data, while traders kept a close watch on the Middle East following US airstrikes in Iraq and Syria.

    International benchmark Brent reached $68.99 a barrel, while US crude futures hit $62.34 a barrel, both the highest since Sept. 17. For the year, Brent has risen around 27 percent in 2019, and the US benchmark is up about 36 percent.

    Brent crude futures rose 28 cents to settle at $68.44 a barrel. West Texas Intermediate (WTI) crude futures fell 4 cents to settle at $61.68 a barrel.

    White House trade adviser Peter Navarro told Fox News in an interview that the US-China Phase 1 trade deal would likely be signed in the next week.

    He cited but did not confirm a report that Chinese Vice Premier Liu He would visit this week to sign the deal. 

    Here's more on this article.

  • World stocks slip as rally pauses, dollar eases##World stocks slip as rally pauses, dollar eases

    The dollar slid on Monday, and global stock markets fell as a year-end rally lost steam after pushing stocks to record highs in 2019.

    As investors assessed the outlook for next year, thin year-end trading volumes exacerbated broad weakness in the dollar, which has fallen the past three sessions. On Friday, it notched its biggest daily decline since March.

    Germany’s 10-year bond yield hit a seven-month high and US Treasury yields rose, driving the yield curve between two- and 10-year notes to its steepest in 14 months on expectations the Federal Reserve will not lower rates.

    Read the full article on the global markets here

  • CNBC-TV18's top stocks to watch out for on December 31
    Indian benchmark indices BSE Sensex and NSE's Nifty 50 are likely to open lower on Tuesday due to muted trading activities amid the holiday season in major global markets.
    CNBC-TV18 Market Highlights: Market ends the year on a weak note, Sensex down 300 points; Nifty below 12,170
CNBC-TV18 Market Highlights: Indian equity benchmark indices ended the year on a weak note amidst profit booking and weak global cues.
Markets continued to trade lower despite Finance Minister Nirmala Sitharaman's announcement of Rs 105 lakh crore national infra pipeline.
At the closing bell, the Sensex ended the session 304.26 points or 0.73 percent lower at 41,253.74 while the Nifty50 ended at 12,168, down 87.40 points or 0.71 percent.

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