Closing bell

The benchmark indices, the BSE Sensex and the NSE Nifty, settled firm but off their record highs, hit earlier during the day on Thursday.

The Sensex finished at 41,932, up 59 points or 0.14 per cent higher. The Nifty closed almost unchanged at 12,356, a gain of 12 points.

The top gainers on the Sensex were Nestle India, which rode up over 3 per cent, followed by Kotak Bank, Bharti Airtel, Hindustan Unilever and Reliance, which gained between 1 and 1.70 per cent.

The laggards were NTPC, which fell over 2 per cent, followed by Tata Steel, Tech Mahindra, HeroMotoCorp and Axis Bank.

Earlier, taking positive cues from the global markets, the Sensex and Nifty scaled record highs in the morning session. The Sensex breached the 42,000 level to hit a new high of 42,059, while the Nifty spurted to 12,377.

The global markets surged following the inking of phase-1 of the US-China trade deal in Washington on Wednesday.

Muted reaction in currencies to US-China trade deal

File Photo

Major currencies mostly shrugged off on Thursday the signing of the Phase-1 trade deal between the US and China, as most of the issues agreed upon had been expected by investors since the summer.

Euro/dollar, the most fluid currency pair, was last trading up 0.1 per cent at $1.1164, matching the one-week high it reached the day before.

An index which tracks the dollar against six other major currencies fell to an eight-day low of 97.14. Click here to read in full the forex market report.

Oil gains after US-China trade deal, fall in inventories

Oil prices rose on Thursday buoyed by the long-anticipated signing of an initial Sino-US trade deal that sets the stage for a jump in Chinese purchases of American energy products, while US crude inventories fell more than expected.

Brent was 30 cents, or 0.5 per cent, higher at $64.30 a barrel by 0754 GMT, while US crude was up by 30 cents, or 0.5 per cent, at $58.11 a barrel. Click here to read in full the global oil markets report .

European shares edge higher after US-China trade deal

The pan-European STOXX 600 index fell 0.2 per cent by 0812 GMT in its third straight day of declines. File Photo

European shares gained ground on Thursday after the US and China signed an eagerly awaited Phase 1 trade deal, but some questions still remained over certain key issues. The pan-European STOXX 600 index was up 0.1 per cent by 0806 GMT. Click here to read in full the European markets report.

World stocks pause at record peak

World stocks inched ahead to a record high on Thursday after the US and China signed an initial deal to defuse their 18-month trade war, though financial markets were wary as a number of thorny issues remained unresolved.

MSCI's broadest index of world stocks firmed 0.03 per cent in Asia after closing at a record level on Wednesday, while its index on Asia-Pacific shares outside Japan rose 0.13 per cent, with India and Australia hitting record highs.

Japan's Nikkei rose 0.14 per cent while mainland China's Shanghai composite index was almost flat. The Pan-European Euro Stoxx 50 futures were up 0.03 per cent and German DAX futures ticked up 0.1 per cent in early trade. Click here to read in full the Asian markets report .

Equifax inks pact to acquire 100 per cent stake in Equifax Credit Information Services

Equifax, a global data, analytics and technology company, on Thursday announced that it has signed a definitive agreement to acquire 100 per cent ownership of Equifax Credit Information Services Private Ltd (ECIS).

Since 2010, ECIS has operated as a joint venture between Equifax and leading Indian financial institutions, including State Bank of India, Bank of Baroda, Bank of India, Kotak Mahindra Prime, Sundaram Finance and Union Bank of India. Following this transaction, ECIS will be 100 per cent owned by Equifax.

Going by the regulatory filings made by each of the above mentioned sellers, Equifax would have paid abut Rs 370 crore to convert ECIS into a wholly-owned subsidiary. Click here to read more on Equifax acquisition of Credit Information Services.

Nifty call: Use intra-day dips to buy the contract with stop-loss at 12,355 levels

Following a positive start and initial rally, the Sensex and Nifty began to decline, witnessing selling pressure at higher levels. The Asian markets are trading almost flat, the Nikkei 225 has gained 16 points to reach 23,933 and the Hang Seng index has added 28 points to touch 28,802 in today's session. Click here to read the Nifty call report in full.

Sensex, Nifty shed morning gains

The Sensex and Nifty slipped into the red at mid-session on Thursday. The Sensex was quoting at 41,843, down 29 points or 0.07 per cent lower. the Nifty was at 12,329, down 13 points or 0.11 per cent lower.

The top gainers on the Sensex were Nestle India, Bharti Airtel, Power Grid, Hindustan Unilever and Sun Pharma, while the laggards were NTPC, HeroMotoCorp, Tata Steel, Tech Mahindra and UltraTech Cement.

Markets eye improved transparency in Budget: Report

Finance Minister Nirmala Sitharaman

The domestic financial market will look for improved transparency in the Union Budget announcements next month, according to a report by Singapore banking group DBS.

Any reduction in the fiscal deficit could result in a negative credit impulse in the near-term, but will need to be balanced with a credible consolidation plan further-out, according to the the bank’s research report India Budget Preview: Loosening the purse released on Thursday.

The report noted that the fiscal deficit in the first eight months of FY20 stood at 15 per cent above target, driven by weak revenues. Click here to read in full the report on market expectations of Budget .

SEBI rejects Axis Bank’s plea in Karvy Stock Broking matter

Markets regulator SEBI has rejected Axis Bank’s plea to allow the lender to invoke the pledge on shares in the Karvy Stock Broking Ltd (KSBL) matter. The order comes after the Securities Appellate Tribunal (SAT) on December 20 had asked SEBI to pass an order by January 15, 2020 in the case. The tribunal had modified its earlier directive passed on December 17, wherein it had asked the markets watchdog to pass an order within 15 days in the case. Click here to read in full the report on rejection of Axis Bank's plea in Karvy matter .

US, China sign phase 1 of trade deal; tariffs remain in place

The US on Wednesday signed the first phase of a trade deal with China, which President Donald Trump described as historic, concluding more than a year of tough negotiations including several months of suspension of talks between the two largest economies of the world. Click here  to read more on the signing of US-China trade deal.

Rupee rises 7 paise to 70.75 against US dollar in early trade

The rupee appreciated by 7 paise to 70.75 against the US dollar in early trade on Thursday as sign of easing tensions between the US and China strengthened investor sentiments.

The US on Wednesday signed the first phase of a trade deal with China, which President Donald Trump described as historic, concluding more than a year of tough negotiations between the two largest economies of the world.

The first phase of the trade deal includes Intellectual Property (IP) Protection and Enforcement, ending forced technology transfer, a dramatic expansion of American agriculture, removing barriers to American financial services, ending currency manipulation, rebalancing the US-China trade relationship and effective dispute resolution. Click here to read in full the rupee report .

Sensex, Nifty make further gains

The Sensex and Nifty edged up further on Thursday morning. The Sensex was quoting at 41,951, up 78 points or 0.19 per cent firmer, while the Nifty was at 12,357, a gain of 14 points or 0.12 per cent.

The top gainers on the Sensex were Bharti Airtel, Nestle India, Power Grid, Hindustan Unilever and TCS. The laggards were Tata Steel, NTPC, IndusInd Bank, HeroMotoCorp and Tech Mahindra.

According to an agency report, the Sensex scaled the 42,000 mark for the first time ever and Nifty hit its record peak of 12,377 points in opening session, tracking positive cues from global equities after the US and China signed an initial trade deal.

According to traders, global stocks rallied as investors heaved a sigh of relief after the US and China on Wednesday signed the first phase of a trade deal, concluding more than a year of tough negotiations between the two largest economies of the world.

The deal includes Intellectual Property Protection and Enforcement, ending forced technology transfer, a dramatic expansion of American agriculture, removing barriers to American financial services, ending currency manipulation, rebalancing the US-China trade relationship and effective dispute resolution.

Bourses in Tokyo and Seoul were trading on a positive note in their early sessions, while those in Shanghai and Hong Kong were flat. 

Benchmarks on Wall Street ended at record highs on Wednesday. Brent crude oil futures rose 0.61 per cent to $64.39 per barrel.

Meanwhile, the rupee appreciated 5 paise to 70.77 against the US dollar in morning session. 

In the previous session, the Sensex ended 79.90 points, or 0.19 per cent, down at 41,872.73; while the Nifty fell 19 points, or 0.15 per cent, to 12,343.30.

Meanwhile, on a net basis, foreign institutional investors bought equities worth Rs 279.53 crore, while domestic institutional investors sold shares worth Rs 648.34 crore on Wednesday, data available with the stock exchanges showed (with inputs from PTI).

Daily rupee call: Tread with caution as rupee is range-bound

After opening lower, the rupee (INR) gained against the dollar (USD) yesterday. But there was not much change at close, as it ended yesterday’s session at 70.81 versus its previous close of 70.87. The price action suggests that the rupee is consolidating between 70.7 and 71 and until it moves out of this range, it is not expected to trend. Click here to read in full the daily rupee call .

World stocks climb record peak on US-China deal

World stocks inched ahead to a record high on Thursday after the United States and China signed an initial deal to defuse their 18-month trade war, though financial markets were wary as a number of thorny issues remained unresolved.

MSCI's broadest index of world stocks firmed 0.04 per cent in early trade after closing at record level on Wednesday while its index on Asia-Pacific shares outside Japan rose 0.21 per cent.

Japan's Nikkei rose 0.14 per cent while mainland China's Shanghai composite index was almost flat. Click here to read in full the Asian markets report .

India's exports fall for fifth straight month in December

India's goods exports declined for the fifth straight month in December 2019 by 1.8 per cent (year-on-year) to $ 27.36 bn as key items such as petroleum, engineering goods and gems and jewellery continued to suffer due to low global demand. Click here to read in full the report on continued decline in Indian exports .

Oil prices jump as China agrees to more US energy purchases

Oil prices rose on Thursday, propelled higher by the long-anticipated signing of an initial trade deal between Washington and Beijing that sets the stage for a potentially huge increase in energy supplies from the United States to China.

Brent was 33 cents, or 0.5 per cent, higher at $64.33 a barrel by 0118 GMT, while US crude was up by 28 cents, or 0.5 per cent, at $58.09 a barrel. Click here to read in full the global oil markets report .

Opening bell

The benchmark indices, the BSE Sensex and the NSE Nifty, opened weakly positive on Thursday.

The Sensex was at 41,919, up 46 points or 0.11 per cent higher, while the Nifty gained 9 points to quote at 12,353.

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