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CNBC-TV18 Market HIGHLIGHTS: Sensex, Nifty settle with gains as HDFC twins, RIL lead the bulls

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CNBC-TV18 Market Highlights: Domestic stock markets settled on a positive note on Tuesday, as oil prices eased due to a lack of further escalation in Middle East tensions. The S&P BSE Sensex index ended 192.84 points or 0.47 percent higher at 40,869.47, while the broader NSE Nifty benchmark closed 67.25 points or 0.56 percent higher at 12,060.30. Gains in realty, banking and metal stocks pushed the domestic markets higher. Here are the main highlights and updates from the stock markets today:

CNBC-TV18 Market HIGHLIGHTS: Sensex, Nifty settle with gains as HDFC twins, RIL lead the bulls
  • Thank you readers! Here are the main highlights from the markets at close##Thank you readers! Here are the main highlights from the markets at close


    Thank you readers and before we sign out of this blog, here are the main highlights from today’s session. Do log in tomorrow as well for our rolling day coverage of live markets.

    -Market closes in the green but off highs 
    -Sensex slips 361 points from highs to close with a gain of 193 points
    -Nifty ends 60 points higher after a 147-point trading range
    -Nifty Bank falls 452 points, Midcap Index 138 points from highs
    -Except PSU Bank all sectoral indices close with gains; Realty top gainer 
    -Infosys under pressure ahead of result on January 10
    -ONGC and IOC slip on reports of cos being asked to take part in BPCL share sale
    -Zee Entertainment up over 2 percent after CLSA has co as top media pick
    -Reliance gains nearly 2 percent to close the session above 50-DMA
    -NMDC closes 1 percent lower amid volatility on Donimalai uncertainty

  • Sensex heatmap at close: UltraTech Cement, RIL top gainers, Infosys top loser##Sensex heatmap at close: UltraTech Cement, RIL top gainers, Infosys top loser

    CNBC-TV18 Market HIGHLIGHTS: Sensex, Nifty settle with gains as HDFC twins, RIL lead the bulls
  • Closing Bell: Sensex, Nifty end with gains led by HDFC twins, Reliance Industries##Closing Bell: Sensex, Nifty end with gains led by HDFC twins, Reliance Industries


    Domestic stock markets settled on a positive note on Tuesday, as oil prices eased due to a lack of further escalation in Middle East tensions. The S&P BSE Sensex index ended 192.84 points or 0.47 percent higher at 40,869.47, while the broader NSE Nifty benchmark closed 67.25 points or 0.56 percent higher at 12,060.30. Gains in realty, banking and metal stocks pushed the domestic markets higher. READ MORE

  • Bombay Burmah at day's high; stock up more than 4% in the last hour##Bombay Burmah at day's high; stock up more than 4% in the last hour

  • Why farm loan waiver might be good politics but is surely bad economics##Why farm loan waiver might be good politics but is surely bad economics

    The Maharashtra government on December 21 announced a loan waiver of up to Rs 2 lakh for farmers with a cut off date of September 30, 2019, and providing relief to non-defaulting farmers who have a loan above Rs 2 lakh.

    The cost of this farm loan waiver would be at least Rs 45,000 crore, according to analysts. Maharashtra has a large share of agriculture credit in the country and it also has the largest contribution to agriculture Non-Performing Assets (NPAs) in the country as per RBI data.

    Around 15 percent of overall agriculture NPLs in the country are contributed by Maharashtra.

    Analysts believe farm loan waiver is the moral hazard and it undermines credit discipline among farm loan borrowers.

    Click here to read more into the story

  • On a journey towards IPO for Biocon Biologics, says Kiran Mazumdar Shaw##On a journey towards IPO for Biocon Biologics, says Kiran Mazumdar Shaw

    Kiran ​Mazumdar Shaw, founder of Biocon Limited, on Tuesday, said that Biocon Biologics, a subsidiary of the company, is on a journey towards its IPO. "We are on a journey to an IPO for Biocon Biologics business," she said.

    According to her, Biocon Biologics is set to achieve $1 billion in revenue by FY22 as “the opportunities are very well marked out".

    Private equity fund True North has picked up a 2.44 percent stake in Biocon Biologics for more than Rs 530 crore. Mazumdar Shaw said that the first step is to get a benchmark equity valuation ahead of possible IPO for biologics arm.

    “We might raise little more private equity prior to IPO. This basically gives an idea of where we believe we can unlock the value in terms of Biocon Biologics in the next few years,” she said in an interview with CNBC-TV18. READ MORE

  • Panama Petrochem's share price jumps over 14%##Panama Petrochem's share price jumps over 14%

    The share price of Panama Petrochem rallied over 14 percent intraday on Tuesday after the company's promoter shareholding increased in December. 

    At 2:30 pm, the stock price was trading 7.93 percent higher to Rs 66.70 per share on the NSE while on an intraday basis, the share price jumped 14.51 percent at Rs 70.80. 

    In its BSE filing, it said, "Panama Petro's promoter shareholding increased to 72.82 percent in December as compared to 70.49 percent in September last year."

  • GM Breweries Q3 Earnings: Net profit and revenue declines 16.3% YoY and 3.9% YoY respectively##GM Breweries Q3 Earnings: Net profit and revenue declines 16.3% YoY and 3.9% YoY respectively

    Liquor maker GM Breweries has reported a 16.3 percent year-on-year (YoY) decline in third-quarter (October-December) net profit, dented by lower revenue and operating income.

    Profit after tax fell to Rs 14 crore in the quarter ended December 2019, compared to Rs 16.7 crore in the same period last year.

    Revenue from operations during the quarter declined 3.9 percent to Rs 119.7 crore year-on-year, company said in its BSE filing.

    At the operating level, earnings before interest, tax, depreciation and amortization (EBITDA) dropped 19.8 percent year-on-year to Rs 19.9 crore and margin contracted 330 bps YoY to 16.6 percent in the quarter ended December 2019.

  • The consequences of using standalone metrics in aviation
    When it comes to understanding the success of Indian aviation, the consequences of using stand-alone metrics may make the final analysis inconsequential.Get latest Aviation online at cnbctv18.com
    CNBC-TV18 Market HIGHLIGHTS: Sensex, Nifty settle with gains as HDFC twins, RIL lead the bulls
  • Sources say that the Federation of All India Distributors Associations has written to the Commerce Ministry slamming modern trade and claims##Sources say that the Federation of All India Distributors Associations has written to the Commerce Ministry slamming modern trade and claims

    Sources said;

    1. FAIDA writes to Commerce Ministry, slams modern trade and claims
    2. FAIDA modern trade and declining business pie hit distributor income by 20-25 percent
    3. Over 30,000 FMCG distributors have exited business over the last year
    4. Memberships declined to 4.2 lakh in January 2020 from 4.5 lakh in January 2019
    5. FAIDA expects 20 percent further decline in pan-India distributor base in 1-2 years
    6. Commissions have remained flat in the range of 3.5-5 percent
    7. Increase in ‘service & network’ costs not proportionate to income generated
    8. Say consumption slowdown, modern trade, FDI B2B outlets has dented business

  • Muthoot finance company MD attacked in Kerala, suffers head injury##Muthoot finance company MD attacked in Kerala, suffers head injury

    The Managing Director of Muthoot Finance company was injured after miscreants allegedly pelted his vehicle with stones on Tuesday morning. George Alexander Muthoot, who suffered head injury has been admitted to a private hospital, police said.

    A section of employees have been agitating against the Muthoot management over dismissal of 160 staff from the company's 43 branches across the state in December.

    The protest is being held under the aegis of the Centre of Indian Trade Unions (CITU).

    The Muthoot management alleged that "CITU goons" were behind the attack that occurred at around 9 am in front of IG office here. However, the CITU rejected the allegations, saying the trade Union outfit has no role in the incident.

    "We don't believe in such type of violent mode of agitation", CITU leader Ananthalavattom Anandan told media. An official of the Confederation of Indian Industries Kerala chapter condemned the incident, saying "it is a matter of great concern".

  • Zee Entertainment will bring operating improvements in 2020, says CLSA##Zee Entertainment will bring operating improvements in 2020, says CLSA

    Global brokerage firm CLSA retained 'buy' rating on the entertainment company, though it slashed the price target to Rs 360 from Rs 390 apiece.

    "2019 was the end of the pledging crisis and 2020 will bring operating improvements," said the brokerage house which feels Zee is well placed to continue outperforming industry growth.

    CLSA said 2020's key focus for the company will be on cash generation. "We see a turn in the company's cash flows from Q4 and forecasts 11 percent earnings CAGR over FY19-22."

    At 12:40 pm, the stock price was trading 1.99 percent to Rs 266.70 per share on the NSE while on an intraday basis, the shares surged 3.76 percent at Rs 271.35.

  • RBI allows banks to trade in forex outside market hours##RBI allows banks to trade in forex outside market hours

    The Reserve Bank of India on Monday permitted select banks to conduct foreign exchange trading beyond markets hours. The RBI allowed category-I banks to offer foreign exchange prices to users at all times, out of their Indian books, either by a domestic sales team or through their overseas branches.

    Currently, banks are allowed to offer forex services between 9 AM and 5 PM. The order will allow forex trading round the clock.

    Dealers hailed the move as a step in the right direction to help traders hedge their bets on the domestic front.

    "Transactions beyond onshore market hours. Transactions with person resident outside India, through their foreign branches and subsidiaries, may also be undertaken beyond onshore market hours," the RBI said in a release.

    The central bank said the decision came as it accepted the recommendation of the task force on the offshore rupee market.

  • Here's a quick recap of the Indian market performance so far##Here's a quick recap of the Indian market performance so far

    1. Indian equity benchmark indices saw a positive opening today after there was no new escalation between the US and the Middle East. 

    2. At 12 pm, the Sensex was up 262.03 points or 0.64 percent at 40,935.32 while the Nifty50 index was trading at 12,067.45, up 74.90 points or 0.62 percent. Broader indices especially Nifty Smallcap100 index rose the highest, by 1.03 percent while Nifty Midcap100 index was up 0.61 percent. 

    3. Vedanta, UPL, Tata Steel, Zee Entertainment and HDFC Bank were the Nifty50 top gainers while Bharti Infratel, Tata Motors, Hero MotoCorp, Bharti Airtel and BPCl were the top losers. 

    4. All Nifty50 sectoral indices trading in the green, however, Nifty Realty delivered the highest gains amongst all, a surge of 1.21 percent followed by Nifty Metal and Nifty Media. 

  • Air India Divestment: The second meeting of Home Minister Amit Shah-headed Group of Ministers (GoM) is likely to take place today##Air India Divestment: Second meeting of Home Minister Amit Shah-headed Group of Ministers (GoM) is likely to take place today. 

    The meeting with Home Minister Amit Shah over Air India divestment will mostly be on the lines of Preliminary Information Memorandum (PIM) on the sale process, said the sources. 

    The Air India Specific Alternative Mechanism (AISAM) or GoM has already approved re-initiation of the process for the government's 100 percent stake sale in Air India along with Air India Express and the carrier's stake in joint venture AISATS.

    The last GoM meeting took place in September last year. Apart from Shah, it was also attended by Finance Minister Nirmala Sitharaman, Commerce and Railway Minister Piyush Goyal and Civil Aviation Minister Hardeep Singh Puri.

  • Jet Airways rises 5% after Synergy Group submits EoI, hits upper circuit for fifth day##Jet Airways rises 5% after Synergy Group submits EoI, hits upper circuit for fifth day

    Shares of Jet Airways surged nearly 5 percent on Tuesday, a day after South America-based Synergy Group submitted an Expression of Interest (EoI) to acquire the debt-laden carrier.

    On the Bombay Stock Exchange (BSE), Jet Airways shares rose as much as 4.87 percent to an intraday high of Rs 37.65 apiece. On the National Stock Exchange (NSE), Jet Airways shares advanced to Rs 37 apiece intraday, up 4.96 percent.

    At 9:51 am, Jet Airways shares traded 4.87 percent higher at 37.65 apiece on the BSE. The benchmark Sensex index was 1.21 percent up at that time.

    The airline’s shares have remained locked to the upper circuit filter for five sessions in a row in hopes of a rescue. On Monday, shares of Jet Airways closed nearly 5 percent higher at Rs 35.90 on the BSE.

    Synergy Group emerged as the sole contender for the airline in the previous round of bidding. However, it did not submit a binding bid and sought more time.

    Besides Synergy Group, banks are hopeful that two other suitors may also come forward — a Dubai-based fund and the Hinduja Group.

    Jet Airways, once country's biggest private airline, stopped flying in April 2019 after running out of cash, leaving thousands without jobs.

  • Government plans to cut spending to curb deficit; may hurt growth##Government plans to cut spending to curb deficit; may hurt growth

    India's government is likely to cut spending for the current fiscal year by as much as 2 trillion Indian rupees ($27.82 billion) as it faces one of the biggest tax shortfalls in recent years, three government sources said.

    Asia’s third-largest economy, which is growing at its slowest pace in over six years because of lack of private investment, could be hurt further if the government cuts spending.

    But with a revenue shortfall of about 2.5 trillion rupees, the government has little choice to keep its deficit within “acceptable limits”, the first official, who did not want to be named, told Reuters.

    Here's more on this article. 

  • Here’s how the Indian markets performed a month before Union Budget in the past 5 years##Here’s how the Indian markets performed a month before Union Budget in the past 5 years

    The Union Budget in February is the biggest and most awaited event in the Indian financial calendar. So it is worth checking how the equity benchmark indices behave in the run-up to the budget.

    The highest returns the Indian market indices delivered a month before the Union Budget in the past five years was in 2015. The S&P BSE Sensex in January 2015 rallied 6.17 percent while the Nifty50 index jumped 6.47 percent.

    Click here to read more. 

  • Geopolitical tensions subside but what do the market experts have to say about this, let's check out##Geopolitical tensions subside but what do the market experts have to say about this, let's check out

    CNBC-TV18 Exclusive: Mark Mobius says

    1. Brent has already hit $70/barrel and could rise even further

    2. Oil prices continue to be the key monitorable for Indian equities

    3. Iran is desperate to end sanctions and might resort to more attacks to do so

    4. Trump administration unlikely to pull back if it comes to escalating tensions

    5. Positive on India for the long-term

    6. One needs to look at both Iran and Iraq for possible oil supply disruptions

    7. Will continue to add positions in India if an opportunity presents itself

    8. Government cutting expenditure is a positive sign but needs to focus on infra spending

    9. Would like to see higher allocation for infrastructure in Budget 2020

    10. India is right behind China in the pecking order

    Dipen Sheth, HDFC Securities on CNBC-TV18       

    1. Geopolitical tremors have provided good entry into Indian equity markets

    2. Do not think we have seen the last of geopolitical risks

    3. It’s difficult to take a call on cement stocks based on fluctuations in prices

    4. The Indian government has its back to the wall which could spur reforms

    5. Nifty Pharma has gone from 13,500 to under 8,000 in under five years

  • Rupee opens at 71.76 agains the US dollar##Rupee opens at 71.76 agains the US dollar


    The Indian rupee opened higher at 71.76 against the US dollar. The home currency had closed at 71.93 against the greenback.

  • These are market expert Ashwani Gujral’s top buy and sell ideas##These are market expert Ashwani Gujral’s top buy and sell ideas

    Market guru Ashwani Gujral of ashwanigujral.com gave his top stock picks for Tuesday's trade in an interview with CNBC-TV18. One of India’s most famous market analysts, Gujaral has been a full time trader of stocks and derivatives for more than 20 years and runs a technical analysis plus trading chat room.

    Click to view his recommendations for today

  • Petrol price hiked by 5 paise whereas diesel prices increased by 11-12 paise##Petrol price hiked by 5 paise whereas diesel prices increased by 11-12 paise

  • US-Iran tensions: What does it mean for crude oil prices in India?##US-Iran tensions: What does it mean for crude oil prices in India?

    Global equity markets are roiled, currencies are in flux and oil is on the boil. The United States killing Iran's most powerful military commander, Qassem Soleimani, has put the region and investors on the edge. Markets in India felt the heat on Monday as crude oil prices hit their 14-month high.

    Can the already on-the-edge tensions escalate into a full-blown war? The opinion is divided among geopolitical experts. Eurasia Group, a renowned think tank, has put the chance of a limited or major military action escalation at 40 percent. Read here for more

  • CNBC-TV18's top stocks to watch out for on January 7##CNBC-TV18's top stocks to watch out for on January 7

    The Indian market is likely to open higher on Tuesday on short-covering after a steep fall in the previous session. Investors will keep an eye on the global geopolitical tensions.

    At 7 am, the SGX Nifty was trading 71.50 points or 0.59 percent higher at 12,120.00, indicating a positive start for the Sensex and Nifty50.

    Among the stocks in the news today, HDFC Bank's advances in Q3FY20 grew 20 percent YoY while M&M increased its production in December by 22.5 percent YoY.

    Here are the top stock to watch out for: HDFC Bank, M&M, VST Tillers amongst others

CNBC-TV18 Market Highlights: Domestic stock markets settled on a positive note on Tuesday, as oil prices eased due to a lack of further escalation in Middle East tensions. The S&P BSE Sensex index ended 192.84 points or 0.47 percent higher at 40,869.47, while the broader NSE Nifty benchmark closed 67.25 points or 0.56 percent higher at 12,060.30. Gains in realty, banking and metal stocks pushed the domestic markets higher. Here are the main highlights and updates from the stock markets today: