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Closing Bell
Stock markets witnessed late surge in buying especially in Energy, IT and Realty stocks, which rose over 1 per cent today.
Earlier, equities were seen mixed and moved narrowly due to alternative buying and selling by traders. Traders were cautious to make fresh commitments ahead of the week-end US-China trade tariff deadline. However, stronger rupee against the weak dollar gave the much needed support for equities.
PSU Bank, FMCG, Pharma and Media stocks, which traded in the red for most of the day's trading session recovered and moved into positive territory on the back of short covering in late deals.
Almost all sectors ended positively, with the exception to PSU Bank and Metals, as they ended lower by up to 0.25%.
The BSE benchmark Sensex ended higher by 172.69 points or 0.43%, at 40,412.57, and the Nifty, on the NSE, too was up 53.35 points and ended at 11,910.15.
On the BSE, out of the 2,672 stocks traded, the number of advancers was at 1,014 and the decliners were higher to 1,467.
On Tuesday, foreign institutional investors (FIIs) emerged as net sellers in the capital market, offloading Rs 366.79 crore, while domestic institutional investors bought shares worth Rs 338.40 crore, data available with stock exchange showed.
NIFTY CHART
NIFTY CHART
NIFTY IT INDEX
NIFTY IT INDEX
NIFTY REALTY INDEX
NIFTY REALTY INDEX
Rupee rises 14 paise to 70.78 against US dollar
The rupee rose 14 paise higher at 70.78 against the US dollar on Wednesday amid softening crude oil prices and weakening of the greenback vis-a-vis major global currencies.
At the forex market, the rupee opened at 70.87 against the US dollar.
During the day, the domestic unit fluctuated between a high of 70.74 and a low of 70.91, before being quoated at 70.78 against the US dollar.
NIFTY BANK CHART
NIFTY CHART
Nifty chart
NIFTY BANK STOCKS
Ujjivan Small Finance Bank to make stock market debut on Thursday
Ujjivan Small Finance Bank, which recently concluded its Rs 750-crore initial public offering, will make the stock market debut on Thursday.
The shares will be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), the microfinance lender said.
Nifty 50 December Futures (11,913)
The Sensex and the Nifty began the session on a positive note amid mixed global cues. The US markets ended last session on flat note and the Asian markets are mixed in today's session. The Nikkei 225 has slipped 18 points or 23,391 levels and Hang Seng index has gained 207 points or 26,644 levels. After an initial rally, the domestic benchmark indices started to decline from the intra-day high on the back of selling interest.
Weak movement seen in PSU Bank index
PSU Bank index fell nearly 1 per cent today after the largest public sector bank SBI reported about Rs 12,000 crore divergence in their non-performing assets (NPA) for the fiscal 2018-19.
At 12.40 pm, the Nifty PSU Bank index declined 16.55 points or 0.68% to 2,402.25 on the NSE.
State Bank of India stock was down 0.30 per cent at Rs 312.55 on the NSE.
Sensex stocks
Sensex stocks
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Yes Bank scrip down 11 per cent
With full clarity yet to emerge on its capital raising plans, the scrip of private sector lender Yes Bank was down over 11 per cent in intraday trade on BSE on Wednesday.
The scrip was trading at Rs 44.75 apiece on BSE in intraday trade.
Buy rupee on declines with tight stop-loss
The rupee (INR) has breached the critical resistance at 71 and closed the session at 70.92 against the dollar (USD), increasing the chances for further appreciation. Thus, month-to-date, the local currency has gained a little over one per cent against the dollar.
PC Jeweller share plunges on CARE downgrade
PC Jeweller share price touched its 52-week low of Rs 21.05, down 8.5 percent in early trade after CARE Ratings downgraded the medium-term instrument of the company.
At 11.10 am, the stock of PC Jeweller was quoted lower by 6% to Rs 21.40. Volumes traded on the counter was 8.85 lakh shares on the BSE.
BSE FMCG stocks
IPCA Laboratories advances 3% on strong fundamentals
Shares of Ipca Laboratories rose today after fall from a month high of Rs 1,161, as seen on charts, on November 18 this year. The stock gained nearly 3% to Rs 1,093.50 on the BSE with volumes of 1,726 shares traded ast at 10.35 am today
Ipca Laboratories has reported a 63.27 per cent rise in consolidated net profit at Rs 193.54 crore in the second quarter ended September 30, 2019. Sequentially, the company EPS has increased to Rs 15.51 in the September quarter of 2019 against Rs 10.45 in June quarter of 2019.
IDBI Bank shares rise on stake sale move in arms
IDBI Bank shares rose nearly 2 per cent today following its announcement the bank would sell up to 49% stake in subsidiaries IDBI Capital Market Securities and IDBI Intech Ltd.
The Board of Directors of IDBI Bank Ltd, at its meeting held on December 10, has given in-principle approval to divest/dilute IDBI Bank''s stake in its subsidiaries, IDBI Capital Market Securities Limited (ICMS) and IDBI Intech Limited (IIL) to the extent of 49% equity to the prospective investors and retaining controlling stake with the Bank.
Information technology shares rally
The S&P BSE IT Sector index rose 90.25 points or 0.62% at 14,933.16.
Among the components of the S&P BSE IT Sector index, Hinduja Global Solutions Ltd (up 2.89%), Trigyn Technologies Ltd (up 2.78%),63 Moons Technologies Ltd (up 2.28%),NELCO Ltd (up 2.27%),NIIT Technologies Ltd (up 1.86%), were the top gainers. Among the other gainers were Tata Consultancy Services Ltd rose (0.95%) today.
BSE IT stocks
SBI’s bad loans up by ₹11,932 crore in FY19
The Reserve Bank of India’s final Risk Assessment Report (RAR) of the SBI has said that the bank’s gross and net NPAs should be higher by ₹11,932 crore each at ₹1,84,682 crore and ₹77,827 crore, respectively, as at March-end 2019.
MCX commodities as on Dec 11, 2019, at 9.48 am
Rupee up 9 paise against dollar
The Indian rupee opened higher at 70.87 against the dollar on Wednesday versus previous close 70.92. At 9.45 am, the domestic currency was quoted higher at 70.83.
On December 10, the rupee ended 12 paise higher at 70.92 against the US dollar amid softening crude oil prices and weakening of the greenback vis-a-vis major global currencies.
Opening Bell
Indian shares rose marginally today in cautious trade, while other Asian markets were mixed.
The BSE benchmark Sensex gained 70.64 points to 40,310.52, while the Nifty, on the NSE, was up 11.30 points to 11,868.10.
Out of the 30 stocks, on the Sensex, the number of advancers was 18 against the decliners at 12.
Sensex stocks
Sensex stocks
BSE online platform attracts over a quarter of mutual fund inflows
Investors in India are now routing more inflows to mutual funds via the online platform. This is evident from the fact that the BSE StAR MF, an online mutual fund distribution platform, has managed to achieve 26 per cent of net inflow to mutual funds for the current fiscal period up to November 2019.
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Equity inflows into mutual funds dip to 41-month low
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Nifty 50 December Futures (11,935)
Nifty Call: Short below 11,930 with stop-loss at 11,980
Though there are considerable signs of a downtrend, the futures contract is trading near a support level. Unless it breaks below 11,930 decisively, further decline from current level is less likely.
(This report is based on yesterday's movement)
NSE suspends trading in Manpasand Beverages
The National Stock Exchange has suspended trading in Manpasand Beverages from Wednesday. In a circular on Tuesday, the NSE said that the company has failed to meet the listing regulations by not disclosing March and June quarter results.
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Manpasand Beverages CMD willing to step down: Company
The company’s independent directors Chirag Doshi, Bharat Vyas and Milind Babar, along with director Dhruv Agrawal tendered their resignation last month
Apollo Tyres (₹162.5)
The stock of Apollo Tyres tumbled 4.4 per cent with good volume on Tuesday, breaching its 21-day moving average and a key support around ₹165.
Asian shares edge lower as investors await tariff deadline
Asian equity markets were a tad lower on Tuesday as investors refrained from making major bets before December 15, when the next round of United States (US) tariffs on Chinese imports is due to take effect.
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