Sensex, Nifty end marginally higher; Metal stocks shine

Closing Bell

Market benchmarks Sensex and Nifty started the week on a cautious note  even as Asian stocks edged up, catching some of Wall Street's momentum after surprisingly strong United States (US) jobs data.

Key benchmark indices spent most of day range bound with upward bias amid negative market breadth. On the BSE, out of the total 2,639 shares traded, the declining scrips were higher at 1,402 against advancing shares at 1,037.

However buying in select large caps, during the day helped markets close with marginal gains. 

The 30-share index ended higher by  42.28 points, or 0.10 per cent, at 40,487.43.

Similarly, the broader NSE Nifty was up 15.45 points, or 0.13 per cent, and ended at 11,936.95.

Top gainers in today's session were HDFC, which was up 2.20%, Axis Bank rose 2.15%, Maruti gained 1.90%, Reliance was up 1.15% and Tata Steel was up 0.85%.

Metal stocks were in limelight and provided much needed support to the overall weak sentiment.

Nifty Metal stocks

Nifty Metal stocks

 

Nifty Metal Index

Nifty Metal chart

 

 

 

Sensex stocks

 

 

 

3.05 pm

 

Nifty Metal stocks

 

3.05 pm

NIFTY FMCG index

 

 

3 pm

 

Nifty Auto chart

 

2.50 pm

 

Sensex stocks

 

 

1.50 pm

 

Metal stocks on BSE

 

1.40 pm

 

 

Automobile stocks on BSE

 

1 pm

Info Edge shares up nearly 3% on acquisition move

Shares of Info Edge went up today after the company, which owns online job portal Naukri, said last week that it will acquire Highorbit Careers - that operates job portals iimjobs.com and hirist.com - for cash consideration of Rs 80.82 crore.

The stock gained nearly 3% to Rs 2,515 on the NSE. Volumes traded in the  counter were to the tune of 1.10 lakh shares as at 1 pm.

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12.45 pm

Weekly trading guide: Bearish bias in SBI

SBI (Rs 320)

The resistance band between ₹347 and ₹351 in the weekly chart proved strong for the stock of SBI, making it witness selling pressure last week. It breached an important support at ₹335, and the outlook has become weak.

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12.35 pm

EID Parry jumps nearly 9% on huge volumes

Shares of EID Parry surged mainly driven by huge volumes on the NSE today. The Hindu BusinessLine has recommended investors to buy the stock on November 17 in its Technical section under Portfolio.

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EID Parry’s Q2 PAT falls to ₹6 cr

 Murugappa group company EID Parry India has reported a net profit of ₹6 crore for the quarter ended September 30, 2019 when compared with a net ...

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12.20 pm

 

 

 

12.05 pm

SBI cuts lending rates by 10 bps

Even with the Reserve Bank of India holding repo rates, the State Bank of India has cut lending rates by 10 basis points across all tenors effective December 10.

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SBI plans to sell UTI AMC stake through public issue

UTI AMC aims to raise ₹2,600 crore through the IPO

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11.30 am

 

Volume buzzer: VA Tech Wabag jumps 8% with big volumes

Shares of VA Tech Wabag shares surged over 8% on Monday with number of shares traded over three-times as compared to the volumes seen in the previous trading session. The stock rose RS 13.45 or 8.15% to Rs 179.50 on the NSE with volumes of 4.90 lakh shares at 11.25 am.

The stock has been on a medium term downtrend from September onwards. It fell from a high of Rs 312 traded on September 11, 2019.

The Water and waste water management company, VA Tech Wabag Ltd (WABAG), has recently got an Rs 217 crore order from Bangalore Water Supply and Sewerage Board (BWSSB).

It said that while Rs 194 crore worth order is for the construction of 60 MLD waste water treatment plant at K&C Valley with power generation, the balance Rs 23 crore is for operation and maintenance for seven years. The project is funded by Japan International Cooperation Agency (JICA).

VA Tech WABAG to resume growth curve from this fiscal

Suggests ‘One City One Operator’ model for sewage treatment projects

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10.50 am

PNB Housing Finance shares tumble 4%

Shares of PNB Housing Finance tumbled over 4 per cent today due to sell-off after recent rally. On November 20 this year, the stock touched a high of Rs 570 and fell steaditly thereafter.

On the NSE, volumes traded were higher around 3.67 lakh shares at 10.45 am today.

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PNB Housing Finance raises Rs 2,500 cr by issuing bonds to LIC

PNB Housing Finance on Thursday said that LIC has invested Rs 2,500 crore in the company by subscribing to its secured redeemable non-convertible ...

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10.20 am

Midcap stocks

 

10.15 am

Nifty hovers over a key support

Both the Nifty and the Sensex have begun to decline; investors should tread with caution. Testing the key resistance in the band between 12,000 and 12,100, the Nifty index retreated and slumped 134 points or 1.1 per cent last week.

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Nifty call: Sell on rallies with stop-loss at 12,065

Nifty 50 December futures (12,021)The Nifty and the Sensex are trading lower today, despite positive cues from the Asian markets. Also, the benchmark ...

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10.10 am

Rupee slips 7 paise to 71.27 against US dollar in early trade

 

The Indian rupee opened on a cautious note and fell 7 paise to 71.27 against the United States (US) dollar in early trade on Monday tracking muted opening in domestic equities and sustained foreign fund outflows

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10.05 am

Daily Rupee call: Consider initiating rupee longs on dips

The rupee (INR) managed to hold onto the support at 71.4 even though it faced some pressure against the dollar (USD) on Friday. After weakening in the first part of the session, the domestic currency began appreciating and closed at 71.2 against 71.29, its previous close.

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Rupee slips 7 paise to 71.27 against US dollar in early trade

On Friday, it had closed at 71.20 against the US dollar

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9.55 am

 

 

Sensex stocks

 

9.45 am

Stock trading call: Buy Eris Lifesciences

Investors with a medium-term perspective can buy the stock of Eris Lifesciences at current levels.

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'

Eris buys trademark for Novartis drug for $13 million

Zomelis is used to treat type-2 diabetes

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Broker's call: Eris Lifesciences (Buy)

AnandRathiEris Lifesciences (Buy)CMP: ₹399.45Target: ₹614Steady Q1 revenue growth. Driven by 10 per cent revenue growth in its base business and about ...

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Eris Lifesciences Q1 profit up 17.5% at Rs 84 cr

Eris Lifesciences Ltd on Saturday reported a 17.47 per cent rise in its consolidated net profit at Rs 84.05 crore for the April-June quarter. Net ...

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9.35 am

Go long on dips with stop-loss at 71.5

The Indian currency has breached the resistance at 71.4. The immediate resistance is at 71.2, above which 71 will be a key level to watch.

Rupee up 9 paise

The rupee appreciated 9 paise to close at 71.20 against the US dollar on Friday, a day after the RBI kept key policy rate unchanged.At the forex ...

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9.20 am

Opening Bell

Market benchmarks Sensex and Nifty started on a cautious note today even as Asian stocks edged up, catching some of Wall Street's momentum after surprisingly strong United States (US) jobs data

The 30-share index was quoted lower by  50.75 points, or 0.06 per cent, to 40,394.10 .

Similarly, the broader NSE Nifty was down 18 points, or 0.15 per cent, to 11,903.45.

 

FPIs turn net sellers in capital markets in December amid weak data

Reversing their buying trend, foreign portfolio investors (FPI) turned net sellers in December, with a net outflow of Rs 244 crore from the capital ...

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Five of top-10 most valued firms add Rs 56,877 cr in m-cap

Five of the 10 most valued firms added a total Rs 56,877.12 crore in market valuation last week, led by IT major Tata Consultancy Services (TCS).The ...

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9.10 am

Buy Put on Tata Global Beverages to benefit from short term reversal

The long term outlook for Tata Global  Beverages (Rs 313.75) remains positive as long as the stock rules above Rs 258. However,  In the short term, it may come under pressure.

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9.05 am

Asian stocks pulled higher by Wall Street jobs rally

 

Asian stocks edged up on Monday, catching some of Wall Street's momentum after surprisingly strong United States (US) jobs data although regional gains were capped by concerns about China's economy due to the prolonged US-China trade war.

Japan's benchmark Nikkei advanced 0.3 per cent while MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.3 per cent, with Australian stocks and South Korea's Kospi up 0.2 per cent and 0.6 per cent, respectively.

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Published on December 09, 2019