Share Market Today: Domestic equity indices Sensex and Nifty closed on a strong note on Wednesday, with indices climbing 0.50% each by the closing bell. Sensex ended 172 points higher at 40,412 and Nifty rose 53 points to 11,910. Except metal and PSU banking scrips, all the major sector-based indices ended in the green, with IT and realty rising 1% each. 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.
Here's a look at the live stock market updates for Sensex, Nifty today:
3: 45 PM
Domestic equity indices Sensex and Nifty closed on a strong note on Wednesday, with indices climbing 0.50% each by the closing bell. Sensex ended 172 points higher at 40,412 and Nifty rose 53 points to 11,910. Except metal and PSU banking scrips, all the major sector-based indices ended in the green, with IT and realty rising 1% each. 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.
3: 00 PM
Domestic equity indices Sensex and Nifty traded on a strong note by the last hour of trade on Wednesday, with indices climbing 0.50% each. Sensex traded 214 points higher at 40,544 and Nifty rose 61 points to 11,920. Except metal, all the major sector-based indices traded in the green, with IT and realty rising the most.
ADB trims India's GDP growth forecast to 5.1% in FY20
2: 20 PM
The Asian Development Bank (ADB) on Wednesday said on Wednesday it has lowered its growth forecasts for developing Asia this year and trimmed its forecast for India's economic growth in 2019-20 to 5.1 per cent for FY20.
The revision in forecast of India's GDP was on account of consumption affected due to slow job growth and rural distress aggravated by a poor harvest.
Brent Crude declines
Globally, market sentiments turned positive on easing global crude prices. Brent futures, the global oil benchmark, fell 0.71 per cent to USD 63.88 per barrel.
1: 50 PM
Domestic indices Sensex and Nifty traded marginally higher by the afternoon session of Wednesday, backed by gains in select private bank, financial and metal stocks amid easing global crude prices. Sensex has risen 60 points to 40,300 and Nifty traded 16 points higher at 11,872.
PNB Housing Finance declines 3%
1: 45 PM
After rising 3% in the early gains, shares of PNB Housing Finance erased early gains and fell nearly 3% to the day's low of Rs 417 on BSE. The company today clarified to exchanges about its exposure to the Omaxe Group and announced that out of the total Rs 650 crore loan sanctioned to the group, Rs 635 crore has been disbursed.
The principal outstanding as on 30 th September 2019 is Rs 456 crore, the filing added.
Gainers and Losers
1: 35 PM
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 by the afternoon trade.
Realty shares rise
1: 30 PM
Realty stocks traded higher on Wednesday after the government said it would spend a whopping Rs 5 lakh crore over the next two years in infrastructure projects to spur the economy and create thousands of jobs.
Union Surface Transport Minister Nitin Gadkari on Tuesday said,"We will spend Rs 2 lakh crore in infrastructure projects in this fiscal (2019-20) and Rs 3 lakh crore in the next fiscal (2020-21) to boost the economy and generate employment in thousands."
Following the news, realty index traded over 1% higher on Wednesday early deals, with 2% rise in DLF and Godrej Properties, followed by 1% rise in Phoenix Mills, Brigade Enterprises and Sunteck Realty. Shares of Mahindra Lifespace Developers, SOBHA and Indiabulls Real Estate were also trading marginally higher.
RIL plans to develop chemical facility in Ruwais with Adnoc
1: 20 PM
Reliance Industries share price traded 0.7% lower and fell to the day's low of Rs 1,551 today. The company announced it plans to develop a Ethylene Dichloride facility in Ruwais with Abu Dhabi National Oil Co (Adnoc), the state-run oil company of the United Arab Emirates (UAE).
"Under the terms of the agreement, ADNOC and RIL will evaluate the potential creation of a facility that manufactures EDC adjacent to ADNOC's integrated refining and petrochemical site in Ruwais, Abu Dhabi and strengthen the companies' existing relationship supporting future collaboration in petrochemicals," the statement said.
YES Bank declines 20%
1: 15 PM
YES Bank shares have declined 20% intraday to the day's low of Rs 40.70 on BSE today. YES Bank stock has lost 73.31% in last one year and fallen 73.95% since the beginning of this year.
The lender in a communication to bourses on Tuesday evening said the binding offer of $1.2 billion submitted by SPGP Holdings and Canada's Erwin Singh Braich, which accounts for 60 per cent of its planned $2 billion capital raising, would "continue to be under discussion".
12: 50 PM
Domestic indices Sensex and Nifty erased early gains and traded marginally higher on Wednesday, backed by gains in select private bank, financial and metal stocks amid easing global crude prices.
Global Market Update
12: 45 PM
Globally, indices inched higher as investors turned optimistic on the US-China trade talks. US and Chinese officials are reportedly working on a deal to postpone tariffs set to hit Chinese imports from December 15. Market sentiment turned positive after global crude prices eased further, traders added.
Vodafone Idea gains nearly 8%
12: 35 PM
Vodafone Idea share price gained over 7% today following reports that the company is in talks to sell its optic fibre business to Brookfield Asset Management and its data centre to the Edelweiss Group. Vodafone Idea shares rose nearly 8% to the day's high of Rs 7, against the previous closing price of Rs 6.56 on BSE today.
Ujjivan Small Finance Bank shares to list tomorrow
12: 15 PM
Ujjivan Small Finance Bank, will be listed on the Bombay Stock Exchange as well as the National Stock Exchange on December 12. Ujjivan Small Finance Bank received robust investor response for its initial public offering (IPO), that opened for subscription on December 2 and closed on December 4.
According to a market analyst, the share of Ujjivan Small Finance Bank is likely to list at around Rs 64. That amounts to 50 per cent premium to the issue price of Rs 37 at the higher end.
JSPL share price gains 2%
12: 11 PM
Jindal Steel & Power share price gained over 2% in the morning trade on Wednesday after the company announced that it has commissioned a fourth coke oven battery at its Angul steel plant in Odisha.
The shares of Jindal Steel & Power climbed 2.4% to the intraday high of Rs 144.45 on BSE, against the last closing price of Rs 141.05.
Dish TV climbs over 8%
11: 25 AM
The share price of Dish TV surged over 8% today following reports that indicated merging of direct-to-home DTH (DTH) operations of the company and Bharti Airtel.
The share price of the direct to home television service provider rose 8.5% to the day's high of Rs 14, against the previous closing value of Rs 13.04 on BSE.
In a move that will create the world's largest TV distribution company, Dish TV, Bharti Airtel and private equity firm Warburg Pincus have reportedly agreed to merge DTH operations of Airtel and Dish.
Piramal Enterprises gains over 2%
11: 20 AM
Piramal Enterprises' shares climbed over 2% in the early trade after the Competition Commission of India approved subscription of compulsorily convertible debentures (CCDs) of the company by Canadian institutional investor, Caisse de depot et placement du Quebec (CDPQ).
Share price of Piramal Enterprises gained 2.3% to the intraday high of Rs 1,648.25 on BSE today.
Following the subscription of CCDs, equity shareholding of CDPQ in Piramal Enterprises will increase to 8.99 per cent from current level of 3.68 per cent.
SBI trades 1% lower
The share price of SBI started on a lower note today after the apex bank Reserve Bank of India found that State Bank of India (SBI) has under-reported bad loans by Rs 11,932 crore during the financial year 2019.
SBI share price declined 1.7% to the day's low of Rs 308.10, against the last closing price of Rs 313.45.
The SBI, in an exchange filing, said that the RBI assessed the bank's gross non-performing assets at Rs 1,84,682 crore in FY19. The bank had disclosed gross NPAs of Rs 1,72,750 crore, resulting in a divergence of Rs 11,932 crore.
Although later, the shares erased early declines and rose marginally to Rs 313 on BSE.
Rupee opens higher
The rupee opened at 70.87 at the interbank foreign exchange and gathered momentum to touch a high of 70.80 against the US dollar. On Tuesday, rupee had settled for the day at 70.92 against the US dollar. Forex traders said investors were optimistic about the US-China trade talks.
IDBI Bank gains over 2%
IDBI Bank gained 2.83% after the lender said the company board has approved the selling of up to 49% stake in subsidiaries IDBI Capital and IDBI Intech
Bharti Infratel rises over 3%
The stock price of Bharti Infratel opened with a gain of 2.16% and later rose 3.22% to the intraday high of Rs 262.5. Bharti Infratel has declared an interim dividend of Rs 2.75 per share for the financial year 2019-20
Sensex and Nifty gainers
Top gainers on BSE Sensex included Bajaj Finance, ITC, Tech Mahindra, ONGC, M&M, Asain Paints. Top stocks on NSE Nifty included Zee Entertainment, Bharti Infratel, Bajaj Finserv, Bajaj Finance and GAIL.
Equity indices Sensex and Nifty rose 0.40% higher on Wednesday, backed by heavy buying in realty stocks. Sensex has climbed 166 points higher at 40,407 and Nifty has risen 47 points to 11,903. On the sectoral front, the realty index gained 1%, followed by 0.80% rise in media, IT and PSU Bank indices.
Future Supply Chain climbs 7%
Future Supply Chain share rose nearly 7% to touch an intraday high of Rs 534.95 on the BSE today. The company announced that the Competition Commission of India has approved the proposed acquisition of 22% stake in company by Nippon Express on preferential basis as well as secondary route.
The Company would be completing the process of allotment of new equity shares to Nippon subject to receipt of subscription amount within 15 days as per applicable provisions of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, Companies Act, 2013, Foreign Exchange Management Act, 1999 and applicable rules made there under," company said in a BSE filing.
YES Bank declines 8%
YES Bank share price crashed over 7% on BSE and NSE today after the lender announced yesterday that its board would consider investment offer of $500 million from Citax Holdings and Citax Investment Group, adding that it would continue to evaluate other potential investors to raise capital upto $2 billion.
"The board is willing to favourably consider the offer of $500 million of Citax Holdings and Citax Investment Group and the final decision regarding allotment to follow in the next board meeting," YES Bank said in a filing to the Bombay Stock Exchange.
On a separate note, media reports suggested that Rakesh Jhunjhunwala was likely to shelve a plan to invest $25 million in the private sector lender. However, YES Bank called such report "purely speculative".
YES Bank shares on Wednesday fell 7.81% to the intraday low of Rs 46.10 on BSE, against the last closing price of Rs 50.55.
Gainers and losers
On Wednesday, Bharti Infratel, Zee Entertainment, GAIL, ICICI Bank, Tata Steel were among the top gainers. YES Bank, UPL, Eicher Motors, SBI, Hindustan Unilever were among the top losers in morning trade.
Global Market Update
On Wall Street, indices slipped as investors awaited cautiously amid absence of detailed trade news, coming close to December 15 deadline of additional tariff implementation on China by US. Dow Jones Industrial Average fell 0.1%, the S&P 500 lost 0.11%, and the Nasdaq Composite dropped 0.07%.
Elsewhere in Asia, MSCI's broadest index of Asia-Pacific shares outside Japan barely. Japan's Nikkei ticked lower, while KOSPI, Straits Times and Shanghai Comp traded flat with positive bias. On the contrary, Hang Seng and Taiwan Index traded higher.
FII remain bearish, DII stays bullish
Net investment of equity and debt reported by foreign portfolio investors (FPIs) remained bearish with net selling logged at Rs 366.79 crore from Indian equities while domestic institutional investors (DIIs) bought Rs 338.40 crore on Tuesday.
Market at pre-open session Wednesday
In the pre-market session on Wednesday, Sensex has climbed 45 points higher to 40,285 and Nifty erased early declines and rose 10 points to 11,867