Markets Live: Sensex closes at 35,513, down 377 points

Sensex, Nifty finish more than 1% lower

The Sensex closed the day down 1.05 per cent or 377 points lower at 35,513. The NSE Nifty also finished in the red at 10,672, a drop of 120 points or 1.11 per cent lower on its overnight close.

The top gainers on the 30-share benchmark index were HCL Tech, Bajaj Auto, Asian Paints, Hindustan Unilever and Bharti Airtel, while the laggards were M&M, ONGC, VEDL, Tata Steel and Larsen & Toubro.

The Sensex ended Wednesday's session at 35,891 points, down 363 points or 1 per cent on its overnight close. The Nifty finished at 10,792, down 117 points or 1 per cent.

HDFC MF pips ICICI Prudential to become largest AMC

HDFC Mutual Fund has pipped ICICI Prudential MF to become the country’s largest asset management company after a gap of over two years. As of December-end, HDFC MF manages assets to the tune of Rs 3.35 lakh crore, while those of ICICI Prudential MF stood at Rs 3.08 lakh crore, as per the latest data available with Association of Mutual funds in India (AMFI). Read the full report on HDFC MF emerging the largest AMC here.

Oil prices decline on swelling oversupply, volatile markets

An oil pump jack pumps oil in a field near Calgary, Alberta, July 21, 2014. Pump jacks are used to pump crude oil out of the ground after an oil well has been drilled. REUTERS/Todd Korol (CANADA - Tags: BUSINESS ENERGY ENVIRONMENT)

Oil prices fell on Thursday amid volatile currency and stock markets, coupled with concerns that an economic slowdown in 2019 will cut into fuel demand just as crude supplies are surging. US West Texas Intermediate crude oil futures dropped 75 cents to $45.79 a barrel by 0900 GMT. International Brent crude futures were down 50 cents at $54.41 a barrel. Read the oil markets report in full here.

NHAI to raise Rs 10,000 cr through Bharatmala bonds

The National Highways Authority of India plans to raise Rs 10,000 crore through Bharatmala Taxable Bonds in the ongoing financial year, Parliament was informed on Thursday. The government has approved raising of Rs 62,000 crore by NHAI in 2018-19. Click here to read more on the Bharatmala bond issue by NHAI .

M&M shares break key support, may fall further

Shares of Mahindra and Mahindra Ltd fell over 3 per cent to Rs 718.30, the lowest since December 12. At about 2.20 pm, the stock was quoting at Rs 718.70, down Rs 23 or 3.10 per cent. Click here to read the full report on M&M share movement .

Eicher Motors shares hit near three-month low

Shares of Eicher Motors Ltd fell as much as 4.24 per cent to Rs 20,265, its lowest since October 4, 2018. At about 2.15 pm, the stock was quoting at Rs 20,378.65, down by 3.7 per cent or Rs 783.65. The stock broke below a support at Rs 20,681.46, the 161.8 pct Fibonacci projection level of the downtrend from April 27, 2018, high to August 2, 2018 low (wave A). Read the full report on Eicher Motors share price movement here.

Sensex sheds more than 300 points

The BSE benchmark Sensex, which has traded in the red through the day, dropped more than 300 points ahead of the close on Thursday. It was quoting at 35,555, down 330 points or 0.94 per cent lower. The NSE Nifty also dropped nearly 1 per cent to quote at 10,685, down 106 points.

The top gainers on the Sensex were Bajaj Auto, Asian Paints, Hindustan Unilever and HCL Tech, while the laggards were ONGC, M&M, VEDL, NTPC and Tata Steel.

The Sensex ended Wednesday's session at 35,891 points, down 363 points or 1 per cent on its overnight close. The Nifty finished at 10,792, down 117 points or 1 per cent.

Corporate earnings scheduled to begin next week were responsible for the market volatility, according to reports. Heavy selling by foreign as well as domestic investors also weighed on local equities.

The Indian unit was trading at 70.1950 to the dollar, off its early lows.

Apple warning shakes European shares as chipmakers tumble

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany.

Apple's first revenue warning in nearly 12 years sent European shares sliding on Thursday, with the tech sector particularly badly bruised as chipmakers, which supply to the iPhone maker, fell sharply. The pan-European STOXX 600 fell 0.7 per cent as Europe joined a sell-off in Asia, with the Apple warning compounding fears of slowing global growth. Read the full report on European markets here.

Gold spikes up on growth concerns, stock volatility

Gold prices scaled a more than six-month peak on Thursday as worries about a global economic slowdown and volatility in equities boosted safe-haven buying, while a weaker dollar offered support. Spot gold touched its highest since June 15 at $1,292.32 per ounce, and was up 0.4 per cent at $1,289.10 at 0819 GMT. US gold futures were up 0.6 per cent at $1,291.20 per ounce. Read the gold report in full here.

Yen soars after 'flash crash', China worries

The yen rocketed higher on Thursday and is poised for its biggest daily rise in 20 months as growing concerns about the health of the global economy, particularly China, sent investors scurrying into the safe-haven of the Japanese currency. The yen surged across the board, reserving some of its biggest gains against the traditional high-yielding currencies favoured by domestic retail investors such as the Australian dollar and the Turkish lira. Click here to read the dollar report in full.

Sensex, Nifty drop lower

The Sensex was firmly in the red in the afternoon session on Thursday. At 2.05 pm the benchmark index was quoting at 35,613, down 277 points or 0.77 per cent lower. Similarly, the Nifty was also in negative territory, trading at 10,696, down 96 points or 0.89 per cent lower.

The top gainers on the Sensex were HCL Tech, Bajaj Auto, Asian Paints, Hindustan Unilever and ICICI Bank, while the laggards included ONGC, M&M, HDFC, Tata Steel and Larsen & Toubro.

The Sensex ended Wednesday's session at 35,891 points, down 363 points or 1 per cent on its overnight close. The Nifty finished at 10,792, down 117 points or 1 per cent.

According to reports, the market has turned volatile ahead of corporate earnings scheduled to begin next week. Heavy selling by foreign as well as domestic investors has also weighed on local equities.

The Indian unit was trading at 70.2550 to the dollar, off its early lows.

Nifty call: Go short on rallies with fixed stop-loss at 10,810

The Sensex and the Nifty began the session on a negative note. After an initial rally to positive territory, the benchmark indices slipped into the negative, witnessing selling interest at higher levels. Both the benchmark indices are down about 0.55 per cent. There are no signs of an intra-day recovery. Read the full Nifty call report here.

Tata Capital Housing Finance ties up with Saraswat Co-operative Bank

Tata Capital Housing Finance Ltd, a wholly-owned subsidiary of Tata Capital Ltd, has entered into a strategic alliance with Saraswat Co-operative Bank Ltd, a 100-year-old banking institution. With this alliance, Saraswat Co-operative Bank’s customers would be able to avail of a range of products from TCHFL. Read the full report on alliance between Tata Capital Housing and Saraswat Co-op Bank here.

Sensex maintains weak undertone

The Sensex was down over 200 points in early afternoon trade on Thursday. The benchmark index was trading at 35,683, down 208 points or 0.58 per cent lower. The Nifty was trading at 10,718, down 74 points or 0.69 per cent lower.

The top gainers on the Sensex were Bajaj Auto, HCL Tech, Bajaj Finance, Asian Paints and Maruti, while the laggards were ONGC, M&M, Larsen & Toubro, HDFC and Axis Bank.

The Sensex ended Wednesday's session at 35,891 points, down 363 points or 1 per cent on its overnight close. The Nifty finished at 10,792, down 117 points or 1 per cent.

According to reports, the market has turned volatile ahead of corporate earnings scheduled to begin next week. Heavy selling by foreign as well as domestic investors has also weighed on local equities.

The rupee opened lower and slipped to 70.36 against the dollar by mid-session.

Gold hits 6-month high

Gold prices scaled a more than six-month peak on Thursday as worries about a global economic slowdown and volatility in equities boosted safe-haven buying, while a weaker dollar offered support. Spot gold touched its highest since June 15 at $1,290.09, and was trading up 0.3 per cent at $1,288.43 per ounce at 0443 GMT. US gold futures were up about 0.5 per cent at $1,290.20 per ounce. Click here to read the gold report in full.

Dena, Vijaya Bank slump after BoB announces swap ratios for merger

PO16_Going_down_arrow.jpg

Shares of state-run Dena Bank and Vijaya Bank plunged on Thursday after the Union cabinet approved their merger with Bank of Baroda late on Wednesday, in an attempt to clean up the country's banking system. Read the full report on the slump in Dena, Vijaya Bank shares here.

Telecom stocks slip on weak subscriber data

Indian telecom stocks such as Vodafone Idea Ltd lost ground on Thursday after the industry regulator released monthly data that showed a bleak rise in the country's mobile phone customer base. Read the full report on fall in telecom stocks here.

Sensex extends losses

The Sensex extended its losses to trade at 35,719 by mid-session on Thursday. This represented a loss of 177 points or 0.50 per cent. The Nifty was trading at 10,726, down 65 points or 0.61 per cent lower.

The top gainers on the 30-share benchmark were Hindustan Unilever, HCL Tech, Asian Paints, Bajaj Auto and Maruti, while the laggards were ONGC, Tata Steel, HDFC, M&M and Coal India.

The Sensex ended Wednesday's session at 35,891 points, down 363 points or 1 per cent on its overnight close. The Nifty finished at 10,792, down 117 points or 1 per cent.

According to reports, the market has turned volatile ahead of corporate earnings scheduled to begin next week. Heavy selling by foreign as well as domestic investors has also weighed on local equities.

The rupee opened lower and slipped to 70.36 against the dollar by mid-session.

Why foreign portfolio flows will stay erratic

The view being parroted by many analysts and fund managers in recent times is that foreign portfolio investors (FPIs) will plough in more money into emerging markets, including India, in 2019. The argument is that as advanced economies slow down and markets in developed economies correct, portfolio investors will increase allocations to emerging markets. The concerns about foreign portfolio outflows is not misplaced since these investors have been fuelling the market over the last three decades. Click here to read the report on why foreign portfolio flows will stay erratic .

Sensex, Nifty slip into the red

Both the benchmark indices, the Sensex and the Nifty, slipped into the red in mid-morning trading on Thursday.

The Sensex was quoting at 35,806, down 85 points or 0.24 per cent, while the Nifty was trading at 10,757, down 34 points or 0.32 per cent lower.

The top gainers on the 30-share benchmark index were HCL Tech, Sun Pharma, ICICI Bank, Hindustan Unilever and Maruti, while the laggards were ONGC, M&M, Tata Steel, Coal India and Power Grid.

The Sensex ended Wednesday's session at 35,891 points, down 363 points or 1 per cent on its overnight close. The Nifty finished at 10,792, down 117 points or 1 per cent.

According to reports, the market has turned volatile ahead of corporate earnings scheduled to begin next week. Heavy selling by foreign as well as domestic investors has also weighed on local equities.

For Warren Buffett, sinking Apple shares a wish come true

Billionaire Warren Buffett has said he would love to see Apple Inc shares decline in price so he could buy more. He is getting his wish. Click here to read the full report on Warren Buffett and the decline in Apple shares .

Ashok Leyland skids on load norms, CEO exit

The stock of Ashok Leyland, which has been the darling of the stock markets in the last four years by rising from a level of ₹14 to ₹168 last May, is struggling at the bourses. The shares, which were trading above ₹100 since July 2017, on Wednesday, closed below the ₹100-mark at ₹99.95 on the NSE. It, however, managed to close at ₹100.05 on the BSE. Read the full report on Ashok Leyland share price movement here.

Autoline Ind may spark on IndiaNivesh funds

Autoline Industries will remain in focus, as it has raised ₹35 crore. In a disclosure to the exchanges, the company said on Wednesday it had entered into an investment agreement with IndiaNivesh Renaissance Fund (Category II alternative investment fund), managed by IndiaNivesh First Bridge Fund Managers Pvt Ltd, by subscribing to convertible share warrants. The company had already received shareholders’ nod on November 16, 2018 for the fund-raise.

WGM Breweries to declare third quarter results

As usual, GM Breweries will be the first company to open the scorecard this results season. The board of directors of the company will meet on Thursday to consider and take on record the unaudited financial results for the quarter and nine-month period ended December 31, 2018. For June and September quarters, the company had reported net profit of ₹22.19 crore and ₹19.42 crore and revenues of ₹404.45 crore and ₹413.59 crore, respectively.

Broker's call: ACC (Buy)

Motilal Oswal

ACC (Buy)

CMP: ₹1,479

Target: ₹1,771

ACC is engaged in manufacturing of cement and ready mixed concrete (RMX). The Company manufactures cement, which includes Ordinary Portland Cement, Portland Pozzolana Cement, Portland Slag Cement and RMX. The company is planning to add 6 mt of capacity at a total capex of ₹3,000 crore, which will come on stream over the next three years. This will be funded by internal accruals and help the company to protect its market share in the central and east regions. ACC’s profitability gap with peers has narrowed significantly over the last few quarters, led by its higher proportion of a) premium sales; and b) sales from its new cost-efficient units of Jamul and Sindri. Read the Broker's Call on ACC in full here.

Rupee falls 22 paise to 70.40 against dollar in early trade

The rupee slumped 22 paise to 70.40 against the US dollar on Thursday amid a strengthening greenback and sustained foreign fund outflows. Click here to read the rupee report in full.

Small finance banks may see interest

Shares of small finance banks such as Equitas Small Finance, AU Small Finance and Ujjivan Financial Services will remain in focus on interest rate hike hopes. Equitas has already hiked interest rates on its savings account deposits with immediate effect. The bank will now offer 5.5 per cent per annum interest on deposits of up to ₹1 lakh and a maximum of 7.5 per cent for deposits of over ₹30 crore. Analysts will keenly follow other banks on whether they too will hike rates.

Apex bank raises concern over volatility in mutual fund inflows

The spectacular run in mutual fund inflows seems to be tapering off. In its recent Financial Stability Report, the Reserve Bank of India has raised concern over the volatility in mutual fund inflows due to certain market developments. Read the full report on volatility in MF inflows here.

Broker's call: Asian Paints (Buy)

Indiabulls Ventures

Asian Paints (Buy)

CMP: ₹1,381.55

Target: ₹1,530

Asian Paints is the largest paint company in India and figures among the top 10 players in the world. The company has 25 manufacturing plants in 17 countries, serving consumers in 65 countries globally. Read the Broker's Call on Asian Paints in full here.

Sensex back in the green

The benchmark index, the BSE Sensex, which ended in the red on Wednesday and opened weak, quickly turned around and was trading in positive territory early on Thursday. It was quoting at 35,940, up 49 points or 0.14 per cent higher on its overnight close.

The Nifty was trading just above the 10,800 level, up 10 points or 0.10 per cent higher.

The top gainers on the Sensex were HCL Tech, Hindustan Unilever, Bajaj Finance, Bajaj Auto and VEDL, while the laggards were ONGC, Coal India, M&M, Tata Steel and HDFC Bank.

The Sensex ended Wednesday's session at 35,891 points, down 363 points or 1 per cent on its overnight close. The Nifty finished at 10,792, down 117 points or 1 per cent.

PTI adds: The market has turned volatile ahead of corporate earnings scheduled to begin next week, traders said, adding that heavy selling by foreign as well as domestic investors also weighed on local equities.

On a net basis, foreign portfolio investors (FPIs) sold shares worth Rs 621.06 crore on Wednesday, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 226.18 crore, provisional data available with BSE showed.

Globally, investor sentiment also turned choppy after the White House meeting between US President Donald Trump and top Congressional leaders on resolving the ongoing partial government shut-down ended in a stalemate on Wednesday.

The Republicans and Democrats stuck to their respective positions over the presidential demand for a US-Mexico border wall.

Trump is seeking $5.2 billion in funding for the wall, which, according to him, is a must to prevent flow of illegal immigrants into the US.

On Wall Street, the Dow Jones Industrial Average reversed all early gains after Apple cut its holiday-quarter revenue forecast, and ended a tad higher at 23,346.24 points.

Elsewhere in Asia, Hong Kong’s Hang Seng was down 0.36 per cent, Kospi fell 0.25 per cent and Shanghai Composite Index was trading flat in early trade. The  Japanese market remained closed on Wednesday. 

The rupee weakened further and opened lower at 70.30 against the US dollar.

Meanwhile, the benchmark Brent crude futures were trading lower by 1.09 per cent at $54.31 per barrel.

Yen soars, Aussie tumbles as fresh growth worries trigger FX 'flash crash'

The yen surged on Thursday through key technical levels as heightened worries about the global economy pushed investors to safe haven-assets in moves exacerbated by thin holiday volumes. Read the full dollar report here.

Oil prices fall amid currency and share market turmoil, crude supply surge

Oil prices fell on Thursday amid volatile currency and stock markets, and as analysts warned of an economic slowdown for 2019 just as crude supply is rising globally. Click here to read the full report on oil price movements.

Asian shares skid as Apple warning stokes growth fears

Shares in Asia fell on Thursday and US stock futures dropped sharply after Apple Inc. cut its revenue forecast due in part to weaker sales in China, adding to concerns about the slowing global economy. Click here to read in full the Asian markets report .

Opening Bell

The BSE Sensex and the NSE Nifty opened Thursday's session mixed. The Sensex opened in the red at 35,849, down 42 points or 0.12 per cent lower on its previous close. The Nifty open in positive territory at 10,796, up 4 points or 0.04 per cent.

Wall St ekes out gains, Apple cuts revenue forecast after the bell

Wall Street edged nominally higher on Wednesday after stumbling out of the starting gate on the first trading day of the new year, as fears of a global economic slowdown were exacerbated after Apple Inc cut its current quarter revenue forecast. Read the dollar report in full here.

Samunnati raises $5 m via NCD issue

Samunnati, a Chennai-based non-banking financial company(NBFC) engaged in agriculture value chain finance on Wednesday raised $5 million through issuance of non-convertible debentures (NCDs) subscribed by Dutch development bank, FMO.

According to a press statement, the investment was made through MASSIF, a Dutch government fund managed by FMO, which will be utilised by Samunnati to support small-holder farmer organisations and agri-enterprises by financing their working capital requirements.

Day Trading Guide for Thursday, January 3, 2019

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

₹2126 • HDFC Bank

₹669 • Infosys

₹280 • ITC

₹147 • ONGC

₹1106 • Reliance Ind.

₹293 • SBI

₹1923 • TCS

10960 • Nifty 50 Futures

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

Click here to read the Day Trading Guide

Today's Pick: TVS Motor Company (₹535): Sell

Investors with a short-term perspective can consider selling the stock of TVS Motor Company at current levels. On Wednesday, the stock tumbled 5.3 per cent accompanied by above average volume, breaching a key support level of ₹550. Click here to read the Today's Pick on TVS Motor Company in full.

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