Share Market Update: Benchmark indices Sensex and Nifty ended the week on a bullish note and closed in the green on Friday. After touching their lifetime highs, BSE index Sensex closed 7 points higher at 41,681 and broader NSE Nifty ended 12 points higher at 12,271 today. Sensex has hit another record-breaking high of 41,809 in today's trade and Nifty too claimed a fresh lifetime high of 12,293. Among sectors, all the indices ended in the green, except pharma, FMCG and auto that closed in red. As per traders, the market rally was likely fuelled by hopes of a budget stimulus to spur economic growth. Further persistent foreign fund inflow has also supported market hitting new highs. Domestic indices also followed bullish trend from global key indices after US Treasury Secretary Steven Mnuchin said an initial US-China trade deal would be signed in early January.
3: 45 PM
Benchmark indices Sensex and Nifty ended the week on a bullish note and closed higher today. After touching their lifetime highs, BSE index Sensex closed 7 points higher at 41,681 and broader NSE Nifty ended 12 points higher at 12,271 today. Sensex has hit another record-breaking high of 41,809 in today's trade and Nifty too claimed a fresh lifetime high of 12,293. Among sectors, all the indices ended in the green, except pharma, FMCG and auto that closed in red.
Tata Chemicals rises nearly 3%
2: 35 PM
Tata Chemicals rose nearly 3% in the early trading deals on Friday after the frim said it has acquired the remaining 25% stake in Tata Chemicals (Soda Ash) Partners Holdings for Rs 1,387.2 crore.
With this acquisition, the Company has increased its ownership in Tata Chemicals (Soda Ash) Partners, the soda ash producing operating entity, from 75% to 100%, the filing added.
IDBI Bank rises 2.4%
2: 25 PM
IDBI Bank share price rose 2.4% today after the lender said it plans to raise up to Rs 2,000 crore in capital through tier-II bonds to enhance capital adequacy. In September, Life Insurance Corporation (LIC) of India and the Government of India (GoI) together infused Rs 9,300 crore as equity capital into the bank.
Mahindra and Mahindra changes directorship
2: 10 PM
Mahindra and Mahindra stock fell from green n Friday after the company announced changed in its directorship. The company has considered and approved the transition of Anand Mahindra, Executive Chairman to the role of Non-Executive Chairman with effect from 1st April 2020. Following the latest release by the company, the stock price of M&M fell to day's low of Rs 530.30 on BSE.
Indices turn red
2: 00 PM
Sensex and Nifty gave up initial gains to trade on a flat note on Friday.
Cadila rises over 2%
1: 30 PM
Cadila Healthcare rose 2.3% today after the pharma major said its topical manufacturing facility located in Ahmedabad from 16th to 20th December, 2019. At the end of the inspection, no observation is issued, the filing added.
Jet Airways' shares lock 5% upper circuit
1: 00 PM
Jet Airways locked 5% upper circuit today after CNBC reported that the NCLT has allowed extension of the cash strapped airline's resolution process by 90 days
Glenmark Pharma rises 1%
12: 45 PM
Shares of Glenmark Pharma erased early gains and traded 1% higher after the company announced that Seqirus Pty Ltd has received marketing approval for Ryaltris from the Therapeutic Goods Administration (TGA), Australia. This paves the way for the launch of Ryaltris in Australia through our partner, Seqirus. Australia will be the first market globally where Ryaltris will be launched, the filing added.
CRISIL hits new 52-week high
12: 30 PM
CRISIL announced that it will acquire Greenwich Associates LLC, a leading provider of proprietary benchmarking data, analytics and qualitative, actionable insights that helps financial services firms worldwide measure and improve business performance.
The acquisition will complement CRISIL's existing portfolio of products and expand offerings to new segments across financial services including commercial banks and asset and wealth managers.
Ashu Suyash, Managing Director & CEO, CRISIL, said, "We are very excited about bringing the two trusted brands together, and Greenwich's rich data sets will augment Coalition's proprietary data, enabling unique analytics and insights."
The share price of CRISIL traded 1.2% higher at Rs 1811.95 on BSE, its intraday as well as a new 52-week high on BSE.
CG Power and Industrial Solutions falls 1%
12: 00 PM
CG Power and Industrial Solutions Limited has appointed Justice TS Thakur as the Head of Investigation to monitor the ongoing forensic investigation commenced by the company.
He was the Chief Justice of India from December 3, 2015 to January 4, 2017.
The Forensic Investigation will be greatly benefited from the oversight, guidance and opinion of a legal illuminary like him, the filing added.
Sahres of CG Power and Industrial Solutions traded at Rs 11.05, declining 1% on BSE today.
YES Bank top gainer today
11: 40 AM
YES Bank share staged a strong recovery from the top Sensex loser position to become the top gainer today amid buzz that the lender was likely to announce its much-awaited qualified institutional placement (QIP) soon.
Givng up early losses, YES Bank share price has touched an intraday high of Rs 51.9, rising 4.01% on BSE today.
JM Financial rises over 5%
11: 35 AM
JM Financial said its subsidiary JM Financial Products Ltd will raise up to Rs 500 crore by issuing bonds.
JM Financial Products Limited (JMFPL) has filed the Tranche II prospectus for its non-convertible debentures (NCDs), with the Registrar of Companies, BSE and Sebi, JM Financial said in a filing.
"The said Tranche II prospectus is dated July 31, 2019 and pertains to the public issue of secured NCDs with a base issue size of Rs 100 crore with an option to retain oversubscription up to Rs 400 crore aggregating up to Rs 500 crore, which is within the shelf limit," JM Financial said in the filing.
Following the news, shares of JM Financial touched an intraday high of Rs 97, rising 5.55% on BSE.
11: 30 AM
According to experts, the market rally may be fuelled by hopes of a budget stimulus to spur economic growth. The positive momentum is premised on improvement in earnings on the back of tailwinds from lower corporate tax rate, good monsoon, transmission of lower interest rates and benefits of Insolvency and Bankruptcy Code in the new year, they said. Further, persistent foreign fund inflow also kept market on a high, as per traders.
Gainers and Losers
11: 20 AM
Yes Bank, SBI, ICICI Bank, Hero MotoCorp, Tata Motors, TCS, L&T and Bajaj Finance were among the top gainers on Friday. On the other hand, Vedanta , Kotak Bank, Tata Steel, HDFC Bank and HUL were among the top losers, trading in the red.
11: 15 AM
Domestic market traded higher on Friday, led by gains in index-heavyweights RIL, ICICI Bank and SBI amid uninterrupted foreign fund inflow. BSE index was trading 102.51 points higher at 41,776.43 and the broader NSE Nifty rose 22.70 points to 12,282.40.
Global Market Update
11: 00 AM
Asian shares hovered near 18-month highs on Friday. MSCI's broadest index of Asia-Pacific shares outside Japan was a fraction firmer in early trade and Japan's Nikkei inched up 0.1%
On Wall Street, US stocks touched records again as US Treasury Secretary Steven Mnuchin said an initial US-China trade deal would be signed in early January.
The benchmark Dow Jones Industrial Average rose 0.47%, followed by S&P 500 that hit a sixth straight record high at 0.44% gain and the Nasdaq Composite added 0.6%.
Rupee opens lower
10 : 55 PM
The rupee opened on a weak note and fell 12 paise to 71.15 against the US dollar in early trade on Friday amid rising crude oil prices and strengthening of the US dollar vis-a-vis other currencies overseas. At the Interbank Foreign Exchange, the rupee opened weak at 71.15 showing a decline of 12 paise over its previous closing.
The Indian rupee on Thursday had closed at 71.03 against the US dollar.
FII and DII action on Thursday
10: 45 AM
Net investment of equity and debt reported by foreign portfolio investors (FPIs) turned positive with net buying logged at Rs 739.43 crore from Indian equities while domestic institutional investors (DIIs) turned bearish with net selling logged at Rs 493.95 crore on Thursday.
Bharat Bond ETF NFO to close today
10: 30 AM
The Bharat Bond ETF, India's first corporate bond exchange-traded fund (ETF), opened for public subscription on December 12 and the issue would close on December 20. The government aims to raise Rs 15,000 crore through this new fund offer (NFO), which is managed by Edelweiss Asset Management Company. Investors can subscribe to the ETF with a minimum unit size of Rs 1,000. The NFO was subscribed 1.7 times on its first day of allotment. Investors who have missed the bond ETF's allotment process through NFO can apply tomorrow, the last day of the bidding process.
Mutual fund house UTI AMC files for IPO with SEBI
10: 15 AM
UTI Asset Management Company, India's biggest public sector mutual fund house, has filed draft red herring prospectus with markets regulator SEBI to float an initial public offering. After Reliance Nippon Life Asset Management and HDFC Asset Management, it would be the third entity from the mutual funds industry to go public.
UTI AMC is estimated to raise around Rs 3,800-4,800 crore through IPO. SBI, Bank of Baroda and LIC will sell 1.04 crore shares each, while PNB and T Rowe Price International will offload 38.03 lakh shares
Indices hit record high
10: 00 AM
Sensex has hit another record-breaking high of 41,809 and Nifty too claimed a fresh lifetime high of 12,293 today
Stocks in the news
9: 45 AM
JM Financial, RITES, Bajaj Finance, Gujarat Gas, NMDC among others are the top stocks to watch out for Friday's trading session
9: 20 AM
Sensex started 10 points higher at 41,680 and Nifty traded 9 points higher at 12,261.
9: 00 AM
Benchmark indices Sensex and Nifty extended gains to close at their all-time highs today. Sensex ended 115 points higher at 41,673.92 and Nifty traded 38 points higher at 12,259 by Thursday's closing bell. During Thursday's session, Sensex has hit another record-breaking high of 41,719 and Nifty too claimed a fresh lifetime high of 12,268 today. Among sectors, gains in FMCG and IT were capped by losses in metal, pharma, financial and realty scrips.