Share Market LIVE: Broader indices Sensex and Nifty closed on a positive note on Thursday, ahead of the release of key macro-economic numbers. Sensex closed 169 points to trade at 40,581 and Nifty ended 61 points higher at 11,971. Except IT, all the major sector-based indices ended in the green, with PSU banking and metal rising over 2% each, followed by 1% rise in auto and banking scrips. On Thursday, Tata Motors, SBI, YES Bank, Tata Steel, Vedanta were among the top gainers. ONGC, Bharti Airtel, Bharti Infratel, HCl Tech and Infosys were among the top losers.
Here's a look at the live stock market updates for Sensex, Nifty today:
3: 45 PM
Broader indices Sensex and Nifty closed on a positive note on Thursday, ahead of the release of key macro-economic numbers. Sensex closed 169 points to trade at 40,581 and Nifty ended 61 points higher at 11,971. Except IT, all the major sector-based indices ended in the green, with PSU banking and metal rising over 2% each, followed by 1% rise in auto and banking scrips.
On Thursday, Tata Motors, SBI, YES Bank, Tata Steel, Vedanta were among the top gainers. ONGC, Bharti Airtel, Bharti Infratel, HCl Tech and Infosys were among the top losers.
Sterling & Wilson gains 5%
3: 00 PM
After declining 3.33% to the day's low of Rs 268.20, shares of Sterling and Wilson Solar erased early losses and rose 4.9% to the day's high of Rs 291.30 on BSE.
The company announced that its subsidiary in Australia-Sterling & Wilson Solar Australia has executed a definitive contract for Engineering, Construction and Procurement for a 144 MW DC Solar Farm in Australia amounting to AUD 170.60 million (approx Rs 827 crore).
Key events today
2: 30 PM
In domestic cues, the governement will be releasing the data for Index of Industrial Production for October month and Consumer Price Index data for November today. IIP data for October will also be released today.
In global cues, US Federal Reserve held rates steady as expected. In UK, general election will be held today and th winner will be announced by tomorrow morning. This would be a crucial vote which will further decide the future of BREXIT.
India's economy to grow at 4.3% in Q4 2019: Nomura
India's economy is expected to grow at 4.3 per cent in December quarter this year amid concerns over crisis in the NBFC sector, according to Nomura. Contrary to the market's current optimism that growth has likely bottomed, Japanese financial services major believes it will slide further. Nomura also believes that the first quarter of 2020 will see a "weak" uptick in GDP growth at 4.7 per cent.
It expects 4.9 per cent GDP growth in 2019, down from an earlier estimate of 5.3 per cent, and 5.5 per cent in 2020 against an earlier projection of 6.3 per cent. In 2021, it sees India's economic growth at 6.5 per cent.
Infosys slips over 3%
The share price of Infosys declined in Thursday trade after US-based rights litigation firm announced filing of a class-action lawsuit against the IT major and accused Chief Executive Salil Parekh of avoiding standard accounting scrutiny. Following the release on the law firm's website, Infosys stock fell 3.58% intraday to the low of Rs 695 on Thursday, against the previous closing value of Rs 720.80.
The lawsuit comes amid the whistleblower complaints written by an anonymous group of employees, which could make matters worse for the tech services major.
Strong listing of Ujjivan Small Finance Bank shares
Shares of Ujjivan Small Finance Bank listed as per market expectations and made debut at a premium of 59 % to the issue price of Rs 37 today. With a subscription bigger than this year's blockbuster IPO of Indian Railway Catering and Tourism Corporation (IRCTC), Ujjivan Small Finance Bank was expected to clock a strong listing today.
L&T bags order from RVNL
Larsen and Toubro have risen 1.4% to the intraday high of Rs 1,281.20, as compared to its last closing value of Rs 1,263.60 on the BSE today.
In a press release today, the company said it has been awarded with contract for its heavy civil infrastructure business from Rail Vikas Nigam Limited (RVNL) for the construction of Rishikesh - Karanprayag Tunnel 2 package works comprising tunnels, bridges and formation works in the state of Uttarakhand.
This is a fast track project to be completed within stringent timelines, the filing added.
In terms of value, the contract stands at 'significant' project classification, for an approx valuation between Rs 1,000 to Rs 2,500 crores.
Godrej Properties rises 3%
Mumbai-based real estate developer Godrej Properties said in a press release today that it has added three new projects in MMR and one in Bangalore thereby adding approximately 1.18 million square metres (12.70 million sq. ft.) of new development on its portfolio.
The share price of Godrej Properties rose 3.08% to the intraday high of Rs 929.05 on BSE today.
YES Bank shares gain 6%
YES Bank share reversed trend after 2 days of consecutive fall and climbed 6% in today's trade to be the top performer of broader indices Sensex and Nifty. The stock rose 6.6% to the intra day high of Rs 45.65 on Sensex and Nifty. 112 lakh and 1,736 lakh shares of YES Bank were changing hands on BSE and NSE counters today.
This trend reversal comes after 2 days of consecutive fall, as uncertainty over the bank's capital raising plans has worried investors.
Domestic bourses trade on a positive note on Thursday with benchmark indices Sensex trading 158 points higher at 40,570.76 and Nifty up by 47 points at 11,957.45.
Domestic market sentiment was positive as foreign investors turned net buyers in the capital market on Wednesday. Investors also awaited for the factory output data, that is scheduled to be released later in the day.
Additionally, domestic investors followed cues from global markets, which were enthused by US Federal Reserve's dovish outlook in its policy meet last night. The US Fed, as expected, made no change to interest rates after cutting the last three meetings in an effort to maintain solid economic growth.
Rupee opens higher
The Indian rupee appreciated by 21 paise to 70.64 against the US dollar in early trade on Thursday. A higher opening in domestic equities and sustained foreign fund inflows strengthened investor sentiments, fore traders said.
At the interbank foreign exchange the rupee opened at 70.67, then gained further ground and touched 70.64, registering a rise of 21 paise over its previous close. On Wednesday, rupee had settled for the day at 70.85 against the US dollar.
Ujjivan Small Finance Bank lists at 59% premium
Share of Ujjivan Small Finance Bank listed at a premium of 59% over the issue price of Rs 37 per share and opened at Rs 58 on BSE. On NSE, Ujjivan Small Finance Bank stock made a listing gain of 58.78%, opening at Rs 58.75 compared to the issue price of Rs 37.
Coffee Day Enterprises rises 2.7%
Coffee Day Enterprises' Share price has risen 2.7% to the intraday high of Rs 42.85 on Thursday. The shares of the company will remain in focus as it seeks lender's approval for the completion of the deal to sell Bengaluru-based Global Village Tech Park to global investment firm Blackstone and realty firm Salarpuria Sattva at an enterprise value of Rs 2,700 crore.
Coffee Day Enterprises and Tanglin Developments Limited, its subsidiary, are in the process of obtaining required NOC's from the lenders for the completion of the deal, company's latest clarification filing added.
Vodafone rises 5%
Shares of Vodafone rose 4.9% in the early trade to the intraday high of Rs 7.02, against the previous closing of Rs 6.69 on the BSE.The telecom major clarified to the exchanges and denied earlier reported negotiations that were taking place with Brookfields or Edelweiss. The company, however, said that it intends to monetize its optic fibre business and data centre, as was disclosed earlier in the quarterly report sent to the Stock Exchanges on 14 November 2019.
YES Bank top gainer
YES Bank share price has risen 4.91% in today trade to Rs 44 on Thursday. This trend reversal comes after 2 days of consecutive fall. The stock has fallen 28% in one week and 38% in one month. Yes Bank is trading lower than 5, 20, 50, 100 and 200 day moving averages.
Shares of YES Bank will remain in focus as brokerage houses have started questioning the future of the private lender after it delayed $2 billion fund-raising program.
Ujjivan Small Finance Bank to list today
Share price of Ujjivan Small Finance Bank, subsidiary of microfinance lender Ujjivan Financial Services, traded at 56% premium at Rs 58, compared to its issue price of Rs 37 in the pre-opening session on Thursday. After a massive 166 times subscription to its initial public offering (IPO), the shares of the largest IPO of the year got listed today at the exchanges.
Stocks in the news
Ujjivan Small Finance Bank, Vodafone Idea, YES Bank, Bharti Airtel, Maruti,CCD, Zydus Cadila, Adani Transmission Limited, Ultratech Cement are among the top stocks to watch out for Thursday's trading session.
Market rises further
Market has risen further by the first hour of trade on Thursday. Sensex has risen over 200 points to trade at 40,600 and Nifty trades 53 points higher at 11,963.
Global Market Update
Except Shanghai Composite index, all the broader Asian indices traded in the green, with Hang Seng and Taiwan index rising the most.
On Wall Street, S&P 500 and the Nasdaq indexes held on to gains on Wednesday ahead of Fed meet, while Dow Jones Industrial Average traded 0.17% lower.
Investors are anticipating signing of an interim U.S.-China trade deal. In the meanwhile, all eyes are on Donald Trump, who has days to decide whether to impose levies on nearly $160 billion in Chinese goods.
FII And DII
Net investment of equity and debt reported by foreign portfolio investors (FPIs) turned bullish with net buying logged at Rs 605.41crore from Indian equities. Domestic institutional investors (DIIs) too bought Rs 239.87 crore on Wednesday.
Market at open
Share Market Today: Domestic equity indices Sensex and Nifty have started Thursday's trade on a strong note, with indices climbing 0.33% by the first hour of trade. Sensex trades 131 points higher at 40,544 and Nifty rose 40 points to 11,950. Except media, all the major sector-based indices ended in the green, with PSU banking and metal rising over 1% each. On Thursday, Tata Motors, Cipla, UPL, Tata Steel, Vedanta were among the top gainers. ONGC, Bharti Airtel, Zee Entertainment, HDFC and Infosys were among the top losers. Globally, indices inched higher as investors turned optimistic on the US-China trade talks.
On Wednesday, domestic equity indices Sensex and Nifty closed on a strong note. Sensex ended 172 points higher at 40,412 and Nifty rose 53 points to 11,910. On Wednesday, NTPC, Zee Entertainment, GAIL, Tech Mahindra and Bajaj Finserv were among the top gainers. YES Bank, UPL, Hero MotoCorp, UltraTech Cement, Hindalco and Larsen and Toubro were among the top losers. Globally, indices inched higher as investors turned optimistic on the US-China trade talks. Market sentiment further turned positive on easing global crude prices.