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Closing Bell
Key stock indices recovered toward close of trade but still ended marginally lower after having met with sharp losses at the start of the trading session.
The BSE benchmark Sensex opened down by nearly 300 points at 40,574.83, and fell further to a low of 40,476.55 taking cues from weak global markets. Dow Jones fell overnight by 119 points as Iran retaliation raised fears of bigger conflict. Asian markets erased most of their previous day's gains with Japan's Nikkei falling 1.5 per cent and South Korea's Kospi down 1.10 per cent. China's Shanghai Composite was down 1.20% and Hong Kong's Hang Seng too fell 0.9 per cent.
The BSE Sensex recovered some most of its lost ground and ended lower by 51.73 points at 40,817.74 points, while the Nifty, on the NSE, shed 27.60 points at 12,025.35. Earlier in the day, the Nifty opened lower at 11,939.10, touched a low of 11,929.60 before recovering to close above 12,000 mark towards the closing hours of trade
On the sectoral front, Auto, Metal, PSU Bank, Pharma, Oil & gas, Realty and telecom were the laggards. On the other hand, IT and FMCG sectors were the gainers supported by TCS, NIIT Tech, Nestle, Hindustan Unilever and Jubilant Foods .
Oil Prices
Oil prices saw buying interest as investors feared a wider conflict in West Asia after Iran fired missiles on US troops housing in Iraqi facilities, which could disrupt the supply.
Sensex stocks
NIFTY SECTORAL INDICES
Sensex stocks
Bank of Baroda to raise up to ₹2,000 crore via Basel III Compliant Tier II Bonds
The designated committee of Bank of Baroda's board (the Capital Raising Committee) on Wednesday approved issuance of Basel III Compliant Tier II Bonds for aggregate total issue size not exceeding Rs.2,000 crore in single or multiple tranches.
Tata Steel subsidiary bags Saruabil chromite block
Tata Steel on Tuesday said its wholly-owned subsidiary T S Alloys Limited has bagged Saruabil chromite mining block for 50 years.
In a regulatory filing, the steel major said a letter of intent as the successful bidder of Saruabil chromite mining block for grant of mining lease for 50 years has been issued by the Odisha government to its subsidiary.
Gold demand takes a hit as prices hover above Rs 40,000
Gold prices on Wednesday gained over one per cent or Rs 500 per 10 grams in futures hitting Rs 41,200 per 10 grams for MCX February contract, and CME gold futures hit a record $ 1604.2 an ounce after Iranian retaliatory action to the last week's US airstrike.
According to local jewellers, the physical demand has taken a hit at record high prices
Ramco Systems bags multi-million-dollar deal from Australian varsity
Enterprise software player Ramco Systems on Wednesday said that it has secured a multi-million-dollar global payroll and workforce management deal from a leading Australian university.
With this win, Ramco will expand its foothold in the higher education vertical
Oil and Gas stocks on BSE
Nifty 50 January Futures (12,048)
Taking bearish cues from the weak Asian markets, the Sensex and the Nifty started the session with a gap-down open and continued to trend downwards following an initial recovery. The Nikkei 225 is down by 1.5 per cent to 23,204 and Hang Seng index has slipped 0.9 per cent to 28,064 levels in today's session.
Sensex stocks
Official sees Budget deficit widening to 3.8%
India’s budget deficit could widen to 3.8% of gross domestic product in the current fiscal year, breaching a target of 3.3%, according to a senior official.
The law allows the government to exceed the target by as much as half a percentage point, the official told reporters, asking not to be identified in line with rules.
10 central trade unions go on nationwide strike
Members of 10 central trade unions have gone a one-day nationwide strike on Wednesday against government policies, a trade body representative said.
Members of 10 central trade unions which include AITUC, INTUC, CITU, AICCTU, CUCC, SEWA, LPF, along with various sectoral independent federations are participating in the nationwide strike, Amarjeet Kaur, General Secretary, AITUC said.
Butterfly Gandhimadhi Appliances stock climbs 11 per cent; BSE seeks clarification on volumes
Butterfly Gandhimadhi Appliances stock climbed over 11 per cent today on the BSE today with volumes of over 2.80 lakh shares, which were two times the two week average quantity.
NIFTY BANK CHART
At 5%, GDP growth to hit 11-year low in FY20
The Central Statistics Office has projected the economy’s growth rate for 2019-20 at 5 per cent, the lowest in the current series with 2011-12 as the base year. This projection is a 11-year low
This first advance estimate is much lower than the 7 per cent growth rate projected in the Economic Survey as also the average forecast of 5.5 per cent by major agencies, but on a par with RBI’s latest estimate of 5 per cent.
Manufacturing stocks on BSE
Manufacturing stocks on BSE
NIFTY CHART
11.35 am
Suzlon shares hit lower circuit
After a five day rally, Suzlon Energy shares have hit the lower circuit on BSE.
In the morning Suzlon shares which opened at Rs 3.55, hit the lower price band of Rs Rs 3.24, a 10 per cent fall within a matter of minutes.
India asks citizens to avoid non-essential travel to Iraq
The Indian government on Wednesday issued a travel advisory, asking citizens to avoid non-essential travel to Iraq in view of prevailing situation in the nation.
BSE Consumer Goods Stocks
Gold races to near 7-year peak after Iran strike on US forces
Gold soared as much as 2% on Wednesday to vault over the $1,600 ceiling for the first time in nearly seven years, as investors flocked to safe havens, after Iran launched retaliatory missile strikes against US forces in Iraq.
Spot gold jumped 0.8% to $1,585.80 per ounce by 0250 GMT. Prices hit their highest since March 2013 at $1,610.90 earlier in the session. US gold futures rallied 1% to $1,589.30. Iran launched a missile attack on US-led forces in Iraq in the early hours of Wednesday, followed by a “second round” of attacks against US bases in Iraq.
BSE AUTO STOCKS
Daily Rupee call
Buy rupee with stop-loss at 72.3
The rupee (INR) closed with a gain on Tuesday as it ended the session 71.83 versus its previous close of 71.94 against the dollar (USD). However, the intraday price action hints weakness in the Indian currency. The one-year forward spread for the USDINR has marginally increased to 304 points from 302 points.
Rupee skids 20 paise as Iran attacks US forces
The Indian rupee tumbled 20 paise to 72.02 against the US dollar in opening trade on Wednesday as Mideast tensions flared up after Iran fired rockets at US military bases in Iraq.
Rupee down 20 paise
The Indian rupee is trading lower by 20 paise at 72.02 against the dollar. It ended yesterday at 71.82.
TCS Board meet to take on record Q3 earnings only after SC hearing
The date will be decided only after the clarity emerges on the status of Cyrus Mistry’s directorship
BSE PSU STOCKS
BSE PSU Stocks
10.15 am
S&P BSE Consumer Discretionary Goods & Services stocks
BSE SECTORAL INDICES
BSE SECTORAL INDICES
BSE MIDCAP CHART
MIDCAP STOCKS
9.55 am
Day Trading Guide For January 8, 2020
₹728 • Infosys
Sensex stocks
Advances/Declines on BSE
On the BSE, about 503 shares have advanced, 934 shares declined, and 60 shares are unchanged.
BPCL, SBI, Vedanta, Hindalco, L&T, Tata Motors, UPL, Coal India, ICICI Bank, HDFC Bank are among major losers on the indices, while gainers are Yes Bank and Bharti Airtel.
Oil prices spike over 4.5% after Iran attacks
Oil prices spiked on Wednesday morning, rising over 4.5 per cent at one point after Iran fired a barrage of ballistic missiles against two airbases in Iraq used by US and coalition forces.
Asia stocks tumble, gold and crude soar after Iran strike on US forces
Asian shares and US treasury yields tumbled on Wednesday, while the yen, gold and oil shot higher after Iran fired rockets at Iraqi airbases hosting US military forces, stoking fears of a wider conflict in the Middle East.
MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.1 per cent. File Photo
MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.1 per cent. File Photo
Opening Bell
Stock market indices declined 0.75 per cent today taking cues from weak Asian markets. Japan's Nikkei tumbled 2.2 per cent and Australian shares fell more than 1 per cent after Iran fired rockets at Iraqi airbases hosting US military forces, stoking fears of a wider conflict in West Asia
After opening lower at 40,574.83,the Sensex was quoted at 40,627.04, down by 242.43 points from its previous close.
The NSE Nifty was quoted at 11,975.70, down by 77.25 points from its previous close.
Kotak Mahindra Bank (₹1,670.8): Buy
Investors with a short-term perspective can buy the stock of Kotak Mahindra Bank as the price action hints at resumption of the bull trend after undergoing a correction during the past couple of weeks.
Sensex down 295 points at preopen at 40,574.83
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