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Share Market Update: Sensex ends 70 points lower, Nifty at 12,060; Grasim, ITC, Adani Ports major losers

Share Market : Key benchmark indices Sensex and Nifty turned volatile and ended lower on Monday, tracking global equities

twitter-logo BusinessToday.In        Last Updated: December 16, 2019  | 17:43 IST
Share Market: Sensex ends 70 points lower, Nifty at 12,060; Grasim, ITC, Adani Ports major losers
Market turned volatile later as major sectoral indices turned flat with negative bias.

Share Market : Key benchmark indices Sensex and Nifty turned volatile and traded lower on Monday, tracking global equities. After hitting fresh highs, benchmark indices Sensex and Nifty on Monday pullbacked from early gains as Asian equities turned red amid US-China trade deal uncertainity. Sensex traded 70 points lower at 40,930 and Nifty fell 35 points lower at 12,049. Earlier, indices started Monday's trade on a strong note, on back of the global rally in equities, in line with buoyancy seen in the Asian markets following news that US President Donald Trump signed an initial trade agreement with China. This was coupled with and a comfortable win for Boris Johnson in the UK election that boosted early chances of BREXIT. Major sectoral indices too turned red. IT rose 1%, while financials and realty scrips traded marginally in the green.

Here's a look at the live market events on Sensex and Nifty for Monday's trading session:

Closing Bell

3: 45 PM

Sensex, Nifty pared early gains to end in red on Monday's trading session. BSE Sensex ended points lower at 40,938 and Nifty fell 26 points lower to 12,060. Major sectoral indices too closed in the red, barring IT, financials and realty scrips that traded in the green.

J B Chemicals & Pharmaceuticals announces increase in price of Metronidazole formulations

3: 30 PM

J B Chemicals & Pharmaceuticals rose 3% to the day's high of Rs 431.55 on the BSE today. The pharma major on Monday announced increase in price of Metronidazole formulations

This is to inform you that National Pharmaceuticals Pricing Authority in public interest, notified one-time price increase of 50% from the present ceiling price of several formulations including four formulations of Metronidazole manufactured by the Company.

The company plans to implement the price increase from the next manufacturing batch. The impact of which could be to the tune of 5% of the domestic formulations sales for an entire financial year.

Market Update: Indices decline further

3: 00 PM

Benchmark indices Sensex and Nifty turned volatile and traded lower on Monday, tracking global equities. After hitting fresh highs, benchmark indices Sensex and Nifty on Monday pullbacked from early gains as Asian equities turned red amid US-China trade deal uncertainity. Sensex traded 70 points lower at 40,930 and Nifty fell 35 points lower at 12,049. Major sectoral indices too turned red. IT rose 1%, while financials and realty scrips traded marginally in the green.

ZF Steering Gear India announced block-closure of plant

2: 20 PM

Shares of ZF Steering Gear India Ltd fell nearly 3% on BSE as the Auto Parts & Equipment maker announced block-closure of plant situated at Village Vadu Budruk, Pune,  from December 29,2019 to January 1,2020. This was in back of weak demand and to align the production with the actual contracted demand for the Company's products. It may also be noted that the demand outlook for the Commercial Vehicle continues to be

weak.

The Company also said its newly set-up manufacturing facility situated at  Pithampur,  Madhya Pradesh has started trial production and is currently under testing and final approval of the customers. The company shall shortly decide and declare date of commencement of commercial production thereat, considering the demand scenario and other factors, the fililng added.

EaseMyTrip files Rs 510 crore IPO papers with SEBI

2: 00 PM

Online travel company EaseMyTrip has filed draft papers with capital markets regulator Securities and Exchange Board of India (SEBI) to float a Rs 510 crore initial public offering (IPO). According to draft papers, company's two promoters will sell shares to the tune of Rs 255 crore each through offer-for-sale mechanism (OFS).

Ramco Systems bags order from China Aircraft Services

1: 30 PM

The share price of Ramco Systems climbed 8.5% higher to the day's high of Rs 147, compared to the last closing of Rs 135.50. The IT Consulting & Software company announced that it has bagged order from China Aircraft Services

"One of the largest third party MRO providers, and a joint venture company among CNAC(G), UAL, CAL & Gama Aviation, China Aircraft Services Limited announced that it has signed an agreement with the global aviation software provider Ramco Systems to implement its Aviation Suite V5.8 for end-to-end base and line maintenance operations," company filling submitted today read.

Astron Paper locks at 5% upper circuit

1: 15 PM

After decining 2% in the early trade, shares of Astron Paper locked at 5% upper cirucuit on BSE, as the company said it executed agreement with Shandong Zhonghui Supply Chain Management Co Ltd, (ABC Paper) China for 3 years, till December 31, 2022.

 As per the agreement, ABC Paper will improve company's operating efficiency and also assist to export in China. Further, ABC PAPER will transfer technical knowledge and experience for upgrade of plant.

Prince Pipes to launch Rs 500-crore IPO on 18 Dec

12: 45 PM

Polymer pipes and fittings manufacturer, Prince Pipes and Fittings plans to raise up to Rs 500 crore through an initial public offering (IPO), the company said on Friday. The IPO will open on December 18, 2019 and closes on December 20, 2019. Promoter share holding in the pre-issue period stands at 90.06%, which will reduce to 65.8% post the issue.

The company has a diverse product portfolio, coupled with multi-location manufacturing units as well as network of distributors pan-India.

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Infibeam Avenues rises 2%

12: 30 PM

Infibeam Avenues rose 2% against its previous close on Monday after the company appointed R Srikanth as President - Finance & Investor Relations

November WPI 2019 stands at 0.58%

12: 15 PM

November WPI inflation at 0.58%  as compared to 0.16% for the previous month and 4.47% during the corresponding month of the previous year. The food inflation at 9.02% versus 7.65% on a monthly basis.

Build up inflation rate in the financial year so far was 2.00% compared to a buildup rate of 4.56% in the corresponding period of the previous year.

Asian Oilfield rises 9.% on securing Rs 640 cr seismic data acquisition work

12: 10 PM

Asian Oilfield shares rose 9.5% in Monday's early trade after the company said it recieved Letter of Award (LOA) for acquisition of 20 and 30 seismic data of oil blocks located in Rajasthan and Gujarat State from a reputed oil and gas company in India. The total value of the LOA received is about Rs 640 crore (inclusive of GST). The term of LOA is two years.

Following the announcement, Asian Oilfield share prcie on Monday touched an intraday high of Rs 115.25, rising 9.5% apeice.

Maruti Suzuki sets milestone of selling 6 lakh automatic transmission PVs

12:00 PM

Maruti Suzuki India Limited rose marginally higher (0.45% up) on Monday after the auto maker said it has created a new milestone with the sales of over 6 lakh automatic transmission passenger vehicles. In FY 2018-19 alone, the Company had sold over 2 lakh units of automatic vehicles.

Out of these 6 lakh automatics sold, over 5 lakh vehicles are equipped with popular Auto Gear Shift (AGS) technology.

"This major milestone reflects the growing customer acceptance of new technologies that brings comfort and ease of driving. By offering multiple automatic options we are able to cater to diverse customers across segments", said Kenichi Ayukawa, Managing Director & CEO, Maruti Suzuki India Limited.

NLC India rises 2%

11: 55 AM

Share price of NLC India Ltd rose 2.2% to the intraday high of Rs 54.90 on BSE today after the state-owned company on Sunday it is planning to invest more than Rs 17,000 crore for its thermal power projects and has embarked upon afforestation programme inside and outside the coal mining area in Odisha.

The Navratna company will produce 20 million tonne of coal per annum from Talabira II and III coal blocks to fuel its 4,200 MW of thermal power projects, an official of the company said.

Pennar Industries rises 3%

11: 35 PM

The share price of Pennar Industries Limited (PIL) rose 3% on Monday after the company said it has been certified to the AS9100 Rev. D quality management standard for its Hyderabad Aerospace facility. The stock of Pennar Industries has risen 3.38% to the intraday high of Rs 29 on the BSE.

Market update

11: 25 AM

Market has erased early gains on Monday with indices Sensex falling below 41,000 and Nifty hovering at 12K, tracking Asian markets that awaits more developments on US-China trade dispute. BSE Sensex trades 10 points lower at 40,998 and Nifty trades 10 points lower 12,076.

Upper circuits and52-week highs

11: 15 AM

Reliance Power, Reliance Infrastructure, Reliance Capital and DHFL are the A group securities that have hit and locked in 5% upper circuit today on BSE.   

Bajaj Finserv, APL Apollo Tubes, Navine Flourine, Gujrat Gas, HDFC, Kotak Mahindra Bank, CRISIL, Abott India, Mannapuram Finance are among the top companies that have hit their respective 52-week highs on Monday's trade on BSE.

BEML shares trade higher

11: 05 AM

BEML shares traded 1.6% up at Rs 1,008 on BSE today. The centre is likely to sell 28% of its stake in BEML Ltd through strategic disinvestment and retain 26% after the dilution of its shareholding in the public sector undertaking, a senior company official told PTI on Monday.

Bullish FII and DII

11: 00 AM

On a net basis, foreign institutional investors bought equities worth Rs 115.70 crore, and domestic institutional investors purchased shares worth Rs 384.92 crore, data available with stock exchange showed on Friday.

Key events today

10: 55 AM

Market participants are likely to eye the global developments closely for cues. In major domestic events, market participants will also be cautioning ahead of the release of WPI data today and the FM's pre-budget consultation meet on December 17 and GST Council meet on December 18 will also be on their radar.

Global markets turn volatile on trade uncertainty

10: 45 AM

Asian investors gave up record high gains, still waiting for details on the much-hyped China-US trade agreement, and began selling began soon after the announcement was made with Wall Street finishing flat.

Losers and Gainers

10: 40 AM

TCS, Tech Mahindra, Kotak Bank, Bharti Infratel and GAIL were among the top gainers on Monday. Adani Ports, ITC, Sun Pharma, JSW Steel and IOC were among the top losers in today's trade.

Glenmark Pharma's Baddi unit gets Good Manufacturing Practice certificate by European regulator

10: 35 AM

Glenmark Pharma shares traded higher on Monday's early session as European regulator SUKL (State Institute for Drug control), Czech Republic  issued a certificate of compliance for the Glenmark Pharma's Baddi facility, stating that it complies with the principles and guidelines of Good Manufacturing Practice.

Following the news, the stock touched the day's high of Rs 350, rising 3.03% on BSE.

RIL trades higher

10: 30 AM

Reliance Industries' shares traded marginally higher today after the company said its arm Reliance Industrial Investments and Holdings has entered into binding agreement with Brookfield Infra & its installment partners, for investment of Rs 25,215 crore in units that are to be issued by Tower Infrastructure Trust. Post the investment, Tower Infrastructure Trust will own 100% of issued & paid up equity share capital of Reliance Jio lnfratel.

RIL stock today traded 1.64% away from 52 week high of Rs 1,614 on the BSE.

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Sectors turn red

10: 25 AM

Market trades volatile on Monday as after a positive start, major sectoral indices turned flat with negative bias. IT rose 1%, while pharma and realty scrips traded marginally in the green, followed by private bank that traded flat.

Indices continue last week's rally

10: 15 AM

Domestic indices tracked last week's bullish trend to rise near record levels, in line with buoyancy seen in the Asian markets following news that Donald Trump signed off on an initial trade agreement with China. On Friday, markets closed higher for the fifth straight session, following firm strong global cues and buying in select index heavyweights. Prospects of averting fresh tariff and inking an interim trade deal between the United States and China, coupled with hopes of a swift Brexit after thumping election win by Boris Johnson's Conservative Party in UK Elections 2019 spurred risk appetite globally.

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IT stocks trade higher

10: 10 AM

IT stocks gained in Monday's trade, tracking technologies stocks in global markets, as the US announced that it signed phase one trade deal with China to end 17-month old trade dispute that led global economy fall into depression.

Sun Pharma shares fall 2%

10: 05 AM

Sun Pharma shares traded 2% lower after the pharma company received 8 observations from US-based drug regulator USFDA on the recent inspection at its Halol unit.

Rupee opens stronger

10: 00 AM

The rupee opened stronger on Monday at 70.75 against the US dollar as compared to Friday's close of 70.81 per dollar on the interbank forex exchange.

Indices trade marginally higher tracking global cues

9: 45 AM

After hitting fresh highs, benchmark indices Sensex and Nifty erased early gains from record highs to trade marginally higher by the first hour of trade. This pullback was line with Asian equities that turned red on Monday, after rising on US-China trade deal optimism. Sensex traded 30 points higher at 41,035 and Nifty traded near 12,086, it's last closing on NSE.

Market Update: Sensex hits fresh high

9: 35 AM

BSE Sensex has hit another lifetime high of 41,185 on BSE and Nifty hovers at 12,134.65, mere 20 points away from 12,158, its lifetime high.

Indices open near record high

9: 15 AM

Key benchmark indices have started Monday on a record high note, with Sensex hitting lifetime high of 41,185 on BSE and Nifty hovering near all-time high of 12,158 on NSE. BSE S&P Sensex has traded to the intraday day high as well as its lifetime high of 41,168 and Nifty has traded to the intraday high of 12,134.65, mere 20 points away from 12,158 mark of life time high.

Global Market Update

9: 10 AM

On Wall Street, US stocks closed higher as US President Donald Trump's limited trade deal with China removes a major trade hurdle between the world's two largest economies.

Asian shares too ticked higher on Monday as investors cheered the 'phase one' trade deal that came ahead of the deadline on Sunday for a new round of U.S. tariffs on almost $160 billion of Chinese imports. MSCI's broadest index of Asia-Pacific shares outside Japan, while Japan's Nikkei 225 pulled back 0.21%.

Last Close

9: 00 AM

Broader indices ended at record highs on Friday's trade, with indices Sensex and Nifty rising 1% each by the closing bell. Sensex closed 428 points higher at  41,009 and Nifty ended the day's trade at 12,086, rising 114 points against its last close. Except pharma that ended flat, 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 realty scrips. Vedanta, Axis Bank, SBI, Hindalco and YES Bank were among the top gainers on Friday. Dr Reddy, Bharti Airtel, Kotak Bank, Zee Entertainment and Bajaj Auto were among the top losers in today's trade. Domestic indices traded higher this morning on back of the buoyancy seen in the Asian markets after Donald Trump signed off on an initial trade agreement with China. Moreover, key indices traded near record highs following reports of FM Sitharaman holding a press conference around 3:00 PM today.

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