Sensex closes above 41K mark; PSU Banks surge 4%

Nifty climbs 114.90 points to close at 12,086.70

Closing Bell

The Sensex crossed the psychological 41,000 mark and the Nifty ended above the key level of 12,050 today on all-round buying, especially in PSU Bank, Metals, Auto and Realty and Capital Goods sectors.

After making a promising start, key indices leapt higher supported by strong investors' sentiment as other Asian peers scaled eight-month peaks on hopes of US-China trade deal and a likely major election win by Britain's Conservative Party.

The barometer index, the BSE Sensex, surged 428.00 points or 1.05% to close at 41,009.71.

The market breadth was positive. On the BSE, out of 2,703 shares traded, 1,551 shares advanced while 986 shares declined. A total of 166 shares remain unchanged

It may be noted that the Sensex had risen around 5,000 points from 36,093 level that was seen on September 19 this year to the current closing level of 41,009 mark.

The Nifty 50 index too crossed the 12,000 mark, and having risen 114.90 points, or 0.96%, it ended at 12,086.70.

Among sectoral indices, except the Nifty pharma index (which ended unchanged) all other indices have achieved gains. The top performer being the Nifty PSU bank index, which was up by 4 per cent.

Heavyweights such as Axis Bank, Vedant, Hindalco, SBI, Maruti, IndusInd Bank, Coal India, YES Bank, Tata Steel, TCS and UltraCement, LT and Tata Motors, achieved gains between 2 and 4 per cent.

Sensex stocks

 

NIFTY SECTORAL INDICES

NIFTY SECTORAL INDICES

 

 

3.20 pm

NIFTY BANK INDEX

NIFTY BANK CHART

 

3.15 pm

Upper Circuit Stocks on BSE

Stocks that hit Upper Circuit on BSE

 

3 pm

52 WEEK HIGH STOCKS

52 Week High stocks

 

2.45 pm

The Sensex crossed the psychological 41,000 mark today on all-round buying especially in PSU Bank, Metals, Auto and Realty and Capital Goods sectors.

After making a promising start, key indices leapt higher following strong investors sentiment as other Asian peers scaled eight-month peaks on hopes of US-China trade deal and a likely major election win by Britain's Conservative Party.

The barometer index, the BSE Sensex, rose 429.96 points or 1.06% to 41,011.67.

The market breadth was positive. On the BSE, Out of 2,523 shares traded as of now, 1,435 shares advanced while 920 shares declined. A total of 168 shares remained unchanged.

The Nifty 50 index too climbed 105.30 points or 0.88% to 12,077.10

 

2.10 pm

Moody’s cuts India’s GDP growth forecast to 5.6 per cent for 2019

Moody’s Investors Service on Friday said it has lowered its 2019 GDP growth forecast for India to 5.6 per cent as slow employment growth weighs on consumption. It expects economic growth to pick up in 2020 and 2021 to 6.6 per cent and 6.7 per cent respectively.

READ MORE

 

Moody’s expects Centre’s fiscal deficit to rise to 3.7%

States’ deficit pegged at 3.3%

Read More  

2 pm

NIFTY BANK CHART

 

 

1.50 pm

 

 

1.45 pm

 

 

1.35 pm

Nifty 50 December Futures (12,110)

 

The Indian benchmarks have been upbeat since the start of the session. The Nifty spot index and the Sensex spot index are up by 0.7 per cent and 0.8 per cent respectively.

The December futures of the Nifty 50 index opened on a positive note at 12,060 versus yesterday’s close of 12,028.

READ MORE

 

 

12.45 pm

 

 

Sensex stocks

 

12.15 pm

Balkrishna Industries shares up 4% on better valuation

Share price of Balkrishna Industries, a leading tyre manufacturer, jumped more than 4 per cent in the morning trade today. Two positives that drove the stock are, a block deal that was made on November 19 this year and secondly, better second quarter earnings with its operating and net profit margins increased by 27 per cent and 32 per cent respectively

On November 19 this year, the company has witnessed a block deal for 13,01,565 shares at Rs 835 worth Rs 108.68 crore

At 12.10 pm, the stock was being quoted higher by Rs 36.85, or 4%, to Rs 959.50 on the NSE.

11.50 am

Capital India Finance shares zoom 13% in volatile move

Capital India Finance, a financial services platform, stock surged over 13 per cent on the BSE today. The stock was volatile in its move today. It touched an intraday low of Rs 75.60 and rebounded to a high of Rs 103.80. Though the scrip has achieved an intraday gain of 13%, its one-year return was negative 20 per  cent (-20%).

According to the BSE website the company's sales was down to Rs 28.27 crore and its net profit was at Rs 5.01 crore for the  September quarter ended 2019. It paid an interim dividend of Rs 0.40 for the September quarter 2019

The company provides customised financial solutions to local businesses and entrepreneurs.

Capital India Finance intraday chart (Dec 13, 2019)

 

 

11.25 am

BROAD MARKET INDICES

 

 

11.15 am

 

Metal stocks on BSE

 

11 am

Falling inflows into mutual funds warrant concern

The sharp decline in flows into equity schemes of mutual funds may have rattled many, but this is not entirely surprising. Stock prices in India have been soaring without any fundamental backing for some time now, driven purely by the incessant demand from mutual funds and pension schemes.

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10.50 am

Oil prices hit highest in 3 months as US-China trade deal takes shape

Oil prices extended gains on Friday, scaling three-month highs as the United States and China moved closer to a resolution to the 18-month trade war between the world's two biggest economies that has raised big questions about global demand for crude.

READ MORE

10.45 am

 

Metal stocks on BSE

 

10.35 am

Broker's Intraday Calls

ICICI SECURITIES

Source: ICICI Securities

 

10.20 am

UCO Bank shares climb 12% on asset quality improvement

 

UCO Bank shares climbed 12 per cent today riding on the back of higher other income and growth in core income in the September quarterly earnings. The stock gained 12% to Rs 18 on the BSE in early trades on the BSE.

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Growth in core income helps UCO narrow loss to ₹892 cr

Riding on the back of higher other income and growth in core income, UCO Bank reported narrowing of net loss to ₹892 crore in the quarter ended ...

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10.10 am

Daily Rupee call: Buy rupee on declines

On Thursday, the rupee (INR) ended the session flat at 70.83 versus its previous close of 70.84 against the dollar (USD). As it sustains above 71, one can remain bullish on the domestic currency.

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Rupee pares early gains to settle marginally up at 70.83 vs US dollar

The rupee pared most of its early gains and settled marginally up at 70.83 against the US currency on Thursday amid uncertainty over the delay in the ...

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9.45 am

Reliance scores early gains on bourses

Reliance Industries shares achieved 1 per cent gain in early trading aided by the acquisition announcement by its subsidiary Reliance Strategic Business Ventures. The stock rose Rs 18.45 or 1.15% to Rs 1,585.95 on the BSE today.

Reliance Strategic Business Ventures Ltd (RSBVL), a wholly-owned subsidiary of the Mukesh Ambani-controlled Reliance Industries Ltd (RIL), has acquired an 85 per cent stake in NowFloats Technologies for Rs 141.63 lakh in cash.

RSBVL is likely to make an additional investment of up to Rs 75 crore in NowFloats, subject to achieving certain milestones, RIL said in a regulatory filing.

Reliance, ADNOC explore JV to build ethylene dichloride facility in Ruwais

Reliance Industries Ltd (RIL) has signed an agreement with state-owned Abu Dhabi National Oil Company (ADNOC) to explore a joint venture for ...

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9.30 am

Opening Bell

The market opened on a strong note on Friday, as investors sentiment improved after other Asian peers scaled eight-month peaks on hopes of United States (US)-China trade deal and a likely major election win by Britain's Conservative Party.

All sectoral indices moved in the green with key heavyweights such as Tata Motors, Vedanta, YES Bank, Tata Steel, SBI, M&M, Reliance Industries, Maruti, HDFC Bank, TCS and ITC achieved gains up to 4 per cent in early trade.

The barometer index, the BSE Sensex, rose 277.42 points or 0.68% to 40,859.13. The Nifty 50 index rose 72.95 points or 0.61% to 12,044.75. The market breadth was positive. On the BSE, out of 1,334 shares traded as of now, 967 shares advanced while 307 shares declined. A total of 60 shares remain unchanged.

 

9.25 am

 

 

9.10 am

Sensex stocks

 

 

9.05 am

IIP contracts for third month in Oct, Nov retail inflation spikes

Onions definitely are making the economy weep, as is evident with rate of retail food inflation for the month of November, which crossed double digit. This along with other vegetables and pulses took the overall rate of retail inflation close to upper limit of targeted inflation rate.

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Power output and GDP growth may not be interlinked

While there is a correlation, one does not lead to the other

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9 am

Cholamandalam Investment & Finance Company (₹312.9)

 

The stock of Cholamandalam Investment and Finance Company gained 3.3 per cent with above average volume on Thursday, resuming the medium-term uptrend.

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Cholamandalam Investment counter sees big surge in trading volumes on BSE

Cholamandalam Investment & Finance Company Ltd saw surge in volumes on the bourses with the share price gaining nearly 2 per cent today.Volumes ...

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Cholamandalam posts ₹307-crore profit in Q2

Arun Alagappan elevated as Managing Director

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8.50 am

Stocks glimpse a brighter future as global clouds lift

 

Asian shares scaled eight-month peaks on Friday as a last-gasp United States (US)-China. trade deal and a likely major election win by Britain's Conservative Party looked to have cleared a couple of dark clouds from the global horizon.

READ MORE

Published on December 13, 2019