Closing bell: The equity indices were mostly unchanged on Thursday as investors awaited more clarity on US President Donald Trump's statement ahead of his visit to India that the two countries were working on a major trade deal.

The 30-share index ended 152.88 points, or 0.37 per cent, lower at 41,170.12. The BSE index hit an intra-day low of 41,134.31 and a high of 41,399.93.

Similarly, the NSE Nifty dropped 45.05 points to settle below the 12,100-level at 12,080.85. During the day, the bourse hit a low of 12,071.45 and a high of 12,152.00.

In the Nifty pack, IndusInd Bank, Zee, Tata Steel, SBI and PowerGrid ended up to 3.40  per cent higher. On the other hand Cipla, Asian Paints, Hindustan Unilever, TCS and TechMahindra shedded up to 2.41 per cent.

The market breadth was negative as 1,277 shares declined against a advance of 1,242 shares, while 170 shares were unchanged.

The domestic markets will remain closed for Shivratri holiday on Friday and Trump's visit will begin on Monday.

ICRA downgrades diamond industry outlook to negative

The domestic cut and polished diamond (CPD) industry will be significantly hit by the coronavirus impact in China and weak demand in key markets. Consequently, ratings agency ICRA has revised the CPD industry outlook from stable to negative, in view of the ongoing shutdown in parts of China and Hong Kong. Read more here

Sectoral indices at 3.05 pm

84 stocks hit 52-week lows on NSE

About 84 stocks fell to touch their 52-week lows on NSE in Thursday's trading session.

Among the stocks that touched their 52-week lows were Alok Industries, Archies, Atlanta, Bharat Gears, Birla Tyres, Cox & Kings Financial Services and CSB Bank.

SBI's credit card business IPO to open on March 2

The $1.25 billion initial public offering (IPO) of SBI Cards and Payment Services, the credit card arm of State Bank of India (SBI), will open on March 2, according to its prospectus.

Global LNG demand expected to double by 2040 to 700 million tonnes

Global demand for liquefied natural gas (LNG) is expected to double to 700 million tonnes by 2040, with gas continuing to play a key role in a lower-carbon energy system, Royal Dutch Shell's annual market outlook said on Thursday.

Global LNG demand grew by 12.5% to 359 million tonnes last year. Asia is expected to remain the dominant region in the decades to come, with South and South-East Asia generating more than half of the increased demand, the report said.

Thomas Cook (India) shares hit upper circuit on share buyback buzz

Shares of Thomas Cook (India) were locked in the upper circuit on Thursday ahead of a meeting to consider and approve proposal for buyback of equity shares of the company.

The stock opened on a positive note at Rs 44 and gained momentum to hit its upper circuit at Rs 49.30, up 19.95 per cent over previous close. On the NSE, the stock zoomed 20 per cent (its upper price band) to Rs 49.50.

Co-living, co-working, student housing can generate 7-11%c rental yield: report

Co-living, co-working and student housing, which are emerging segments in the Indian real estate sector, have the potential to generate rental yield of 7-11 per cent, according to a report by CII and Anarock.

The report, titled ‘Emerging Asset Classes: The Future Looks Promising’, was released at the 2nd CII Real Estate Confluence here on Thursday. It delves into these highly promising new Indian real estate asset classes and explores their growth drivers as well as the underlying opportunities for investors and other real estate stakeholders.

Gold futures slump on weak global cues

Gold prices on Thursday fell by Rs 28 to Rs 41,558 per 10 gram in futures trade as participants cut down their positions tracking weak trend overseas.

On the Multi Commodity Exchange, gold prices for April delivery fell by Rs 28, or 0.07 per cent, to Rs 41,558 per 10 gram in a business turnover of 3,339 lots.

The yellow metal for June delivery declined by Rs 73, or 0.17 per cent, to Rs 41,705 per 10 gram in 144 lots.

Nifty Call: Buy with stop-loss at 12,120 levels

The Sensex and the Nifty began the session in negative territory, tracking the mixed cues from the Asian markets. After that, the benchmark indices started to trend upwards and currently hovering in the positive territory. The Nikkei 225 is up by 0.34 per cent to 23,479 while Hang Seng index has fallen 0.5 per cent to 27,521 levels in today's session. Read more here

Godfrey Phillips promoters work out ₹11,000-crore settlement; Lalit Modi to get ₹917 crore

The family dispute involving the KK Modi Group, the promoters of Godfrey Philips, which sells the Marlboro brand of cigarettes, is inching towards a resolution.

Documents in the possession of BusinessLine show that ₹11,002 crore, or approximately $1.54 billion, will be divided equally among the four families that form part of the KK Modi Family Trust. The settlement will be carried out through an arbitration process in Singapore. For more details click here

Future Lifestyle's fund raising plans

The board of directors of Future Lifestyle Fashions will be held on Thursday to consider and evaluate proposals for raising of funds. The board, if required, would further consider conducting an extraordinary general meeting/postal ballot, for seeking approval of the shareholders if necessary for fund-raising plans. Shareholders of Future Lifestyle will closely monitor the mode of fund-raising -- whether debt issue or equity and the quantum of funds to be raised.

Corporate India's effective tax rate falls for the first time in six years

Corporate India saw a decline in the proportion of profits paid out as taxes during 2018-19, a first in six years, even though there were no significant industry-wide changes in the overall statutory tax rates for that year, the Union budget 2020-21 documents show. Read more here

Sterlite Technologies shares jump over 7%

Shares of Sterlite Technologies surged over 7 per cent on Thursday after the company received an order worth ₹1,500 crore.

The stock opened at ₹111 and gained 7.2 per cent to touch a high of ₹119 on the BSE. Later, it was trading at ₹115.65 per unit, up 4.19 per cent. On the NSE, the scrip rose as much as 6.97 per cent to ₹118.80. It was trading 3.96 per cent higher at ₹115.45.

The company on Wednesday said it had won orders worth ₹1,500 crore.

China cuts loan rate as it battles coronavirus impact

China on Thursday announced it would cut interest rates in a bid to boost the economy, as it battles the economic fallout of the new coronavirus outbreak.

The reduction in the loan prime rate (LPR) -- one of the preferential rates commercial banks impose on their best customers and which serves as a reference for other lending rates -- is the latest measure to help companies struggling through the epidemic.

The one-year LPR was lowered to 4.05 per cent from 4.15 per cent, the People’s Bank of China (PBoC) said in a statement.

Broker's call: Supreme Industries (Accumulate)

Margins in the illustrious plastic piping systems business have seen some transformation of sorts (9MFY20 — 14.5 per cent vs 12.8 per cent ) not least due to Supeme Industries’ growing focus on value added products, same as that for consumer products business.

Shoved by recovery in consumer demand next fiscal, margins in all its businesses would see an uptick, thus elevating overall operating margins to 14.8 per cent from 14.2 per cent this year.

Daily Rupee call: Initiate shorts with stop-loss at 71.6

On facing significant downward pressure, the rupee (INR) declined on Tuesday against the dollar (USD). It closed at 71.56 versus 71.29 – its previous close. Thus, the local currency has breached important support at 71.5, opening the door for further weakness. This is despite a fall in the one-year forward spread of USDINR. Click here to read the technicals

Markets update: Market benchmarks Sensex and Nifty opened on a cautious note on Thursday tracking tepid cues from global markets and foreign fund outflow.

After dropping over 100 points in opening session, At 9.55 am , the 30-share barometer was trading 50.36 points, or 0.12 per cent, lower at 41,272.64.

Similarly, the NSE Nifty was trading down by 13.90 points, or 0.11 per cent, at 12,112.

HDFC, Kotak Bank, HUL, Nestle India, RIL and NTPC were among the top laggards in the Sensex pack, shedding up to 1.05 per cent.

On the other hand, IndusInd Bank emerged as the biggest gainer, rising up to 3 per cent, followed ONGC, Sun Pharma, SBI, TCS and Axis Bank.

Rupee opening: The rupee depreciated 20 paise to 71.74 against the US dollar in morning session.

FII activity: As per the stock exchange data, on a net basis, foreign institutional investors sold equities worth Rs 190.66 crore, while domestic institutional investors bought shares worth Rs 590.12 crore on Wednesday.

What do the change in SEBI investment advisor rules mean to you?

The SEBI Board has made some far-reaching changes to the rules guiding investment advisers. These changes have been in the works for a while now and SEBI had issued numerous consultation papers over the years ― in October 2016, June 2017, January 2018 and, more recently, in January 2020.  Read more here

Aster DM buyback offer opens today

The ₹120-crore buyback offer from Aster DM Healthcare will open on Thursday and close on March 5. The company plans a buyback of up to 57.14 lakh fully paid-up equity shares, representing approximately 1.13 per cent of its total paid-up equity share capital, at a price of ₹210 a share.

As the offer is on a proportionate basis through the tender offer route, only those shareholders whose names had appeared on its book on January 24, 2020, would be eligible to participate in the buyback.

Digital biz foray into US may prove a big positive for Infibeam Avenues stock: Analysts

Shares of Infibeam Avenues remained calm on Wednesday despite the company saying it is entering into the US market. Infibeam Avenues on Wednesday announced its move into the US market, which is counted as the world’s second-largest digital payments market by revenue. Shares of the company, after hitting a high of ₹57.55 intra-day, closed at ₹56.25, down 0.53 per cent, on the BSE, as analysts remained cautious on the stock. Read more here

Opening bell: The benchmark indices, Sensex and Nifty, opened on a tepid note on Thursday. The Sensex was quoted at 41,243, down 79 points or 0.19 per cent. The Nifty was down 7points or 0.06 per cent at 12,119.

Day Trading Guide for February 20, 2020

Given below are supports and resistances for Nifty 50 futures and seven key stocks that can help in your intra-day trading:

₹1226 • HDFC Bank

₹800 • Infosys

₹206 • ITC

₹101 • ONGC

₹1504 • Reliance Ind.

₹320 • SBI

₹2194 • TCS

12142 • Nifty 50 Futures

S1, S2 : Support 1 & 2; R1, R2: Resistance 1 & 2.

Today's Pick - NMDC (₹105): Buy

Investors with a contrarian view can buy the stock of NMDC at current levels. The stock jumped 5.5 per cent accompanied by above average volume on Wednesday, taking support from a key psychological support at ₹100. Read more on the technicals here

Asian stocks advance on slowing virus, China stimulus hopes

Asian stocks edged up on Thursday, supported by a fall in coronavirus cases and expectations of more Chinese stimulus to offset the economic impact of the epidemic. At the same time, the Japanese yen nursed heavy losses after suffering its steepest drop in six months.

The epicentre of the outbreak in China's Hubei reported just 349 new cases on Thursday, the lowest since Jan. 25. However, it was accompanied by a change in diagnosis rules.

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