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Share Market Update: Indices log highest closing ever; Sensex ends 413 points higher, Nifty at 12,165

Share Market Update: Sensex rose to its lifetime high of 41,401 in Tuesday's trade, NSE Nifty cliamed a all-time high of 12,182 today

twitter-logoBusinessToday.In | December 17, 2019 | Updated 16:10 IST
Share Market Update: Indices log highest closing ever; Sensex ends 413 points higher, Nifty at 12,165
Ending at its highest level, BSE Sensex closed 413 points higher at 41,352 and NSE Nifty50 rose 111 to end at 12,165

Share Market Update:Indian benchmark indices Sensex and Nifty rose 1% each by the closing bell on Tuesday, recording new lifetime highs. Ending at its highest level, BSE Sensex closed 413 points higher at 41,352 and NSE Nifty50 rose 111 to end at 12,165. While BSE Sensex rose to its lifetime high of 41,401 in Tuesday's trade, NSE Nifty cliamed a all-time high of 12,182 today. In terms of sector, except pharma and realty, all major sector-based indices ended in th green, with nearly 3% rise in metal stocks, followed by 2% climb in IT scrips. Key indices tracked bullishness from Asian shares, that rose to their highest in eight months as trade deal optimism and Wall Street's rising streak to all-time highs supported market sentiment.

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

Expert Opinion

4: 00 PM

Commenting on today's rally, Vinod Nair, Head of Research at Geojit Financial Services said,"Positive global sentiments buoyed by easing trade war tensions between the US and China continue to pump market. Economic growth remains on the lower side while risk appetite of investors are gradually improving  on expectation of further steps from the government in the upcoming budget to revive consumption and attract investments."

Closing Bell

3: 55 PM

Indian benchmark indices Sensex and Nifty rose 1% each by the closing bell on Tuesday, recording new lifetime highs. Ending at its highest level, BSE Sensex closed 413 points higher at 41,352 and NSE Nifty50 rose 111 to end at 12,165. While BSE Sensex rose to its lifetime high of 41,401 in Tuesday's trade, NSE Nifty cliamed a all-time high of 12,182 today. In terms of sector, except pharma and realty, all major sector-based indices ended in th green, with nearly 3% rise in metal stocks, followed by 2% climb in IT scrips.

New record highs

3: 40 PM

Sensex has made a new lifetime high of 41,401.65 on BSE and Nifty too climbed to a fresh all time high of 12,182.75 on NSE.

Indices hit new record highs

3: 20 PM

Indian key indices Sensex, Nifty tracked bullishness from Asian markets and rose to new record highs on Tuesday. Where Sensex hit a fresh lifetime high of 41,391 on BSE, Nifty too crossed its earlier 12,158 level and claimed 12,176 mark in today's trade, its new all-time high. Sectorally, all the indices traded in the green. Key indices tracked bullishness from Asian shares, that rose to their highest in eight months as trade deal optimism and Wall Street's rising streak to all-time highs supported market sentiment.

Elgi Equipments rises over 4%

2: 35 PM

Elgi Equipments today launched its future-ready, energy-efficient range of electric and diesel portable air compressors at EXCON 2019, the largest construction equipment exhibition in South Asia. EXCON is expected to attract over 50,000+ business visitors and 1250 exhibitors from the 10th to the 14th of December 2019.

Reacting to the news, share price of Elgi Equipments rose to the intraday high of Rs 254.25, rising 4.37% apiece against the last closing of Rs 243.60 on the BSE.

Quick Heal Technologies rises 3%

2: 30 PM

Quick Heal Technologies' shares rose over 3% on Tuesday after the company said it entered into a partnership with Big C Mobiles, in order to increase mobile security adoption in Andhra Pradesh and Telangana. Such partnership will enable Quick Heal to tap into Big C's vast retail presence of over 225+ mobile stores in Andhra Pradesh & Telangana and increase the adoption of next-generation mobile security solutions in the region, company's filing read.

Reacting to the news, the share price of Quick Heal Technologies rose to the intraday high of Rs 128.85, rising 3.04% apiece against the last closing of Rs 125.05 on the BSE.

Mindtree rises 2%

2:10 PM

Shares of Mindtree rose 2% to Rs 774.75 apiece, against the last closing value of Rs 760.15 on the BSE today.

Mindtree today announced that it has established a new India-based center of excellence, called Immersive Aurora, as a site to develop immersive technology experiences. The company is collaborating with global software company PTC to unleash new possibilities and transform interactions throughout the customer experience and Industry 4.0 touchpoints.

"By launching Immersive Aurora and partnering with PTC, Mindtree is well-positioned to help our clients rapidly unlock value from their technology investments just as the convergence of the physical and virtual worlds is accelerating," said Debashis Chatterjee, CEO of Mindtree.

NBCC rises 3%

2: 05 PM

Shares of NBCC India rose 3% in Tuesday's trade after the company announced the following orders.

The company informed the exchanges BSE, NSE that Delhi Development Authority (DDA) has revised the conditions of MoU with the company and entrusted the 'Integrated Development work of East Delhi Hub, Karkardooma, New Delhi based on Transit-Oriented Development (TOD) norms wherein NBCC will work as Project Planning, Designing and Executing Agency.

The scope of work for NBCC comprises master planning of the entire project and construction of 1600 residential units, external amenities, infrastructure services and other developmental works. The total estimated cost of the development of Phase-I of this project is Rs. 1393 crores (approx).

On a separate filing, the company said that Odisha Thermal Power Corporation Limited (OTPCL), Bhubaneswar has signed the MoU for an award of civil construction and various developmental works of the thermal power plant to NBCC (India) Limited. The company said the total estimated cost of the project is Rs. 200 crores (approx).

NIIT Technologies to consider buy back on Dec 23

1: 55 PM

Shares of NIIT Technologies rose 10% on Tuesday as the company said its board plans to meet on December 23, 2019, to consider the proposal for buy-back of the equity shares.

Reacting to the news, share price of NIIT Technologies touched an intraday high of Rs 1,629, rising 150 points or 10% apiece on BSE.

Indices make fresh all time highs

1: 25 PM

Sensex has hit another all-time high of 41,308 on BSE, while Nifty touched the intraday high at 12,157, hovering close to an all time high of 12,158 on NSE. Sensex has made fresh all time highs in today's trade, rising above the earlier recorded lifetime highs, while Nifty struggles to breach its earlier all time high level of 12,158 and hovers close to the same.

Max India completes transfer of its holding in Max Bupa to Fettle Tone

1: 20 PM

Max India rose 4% on Tuesday after the company said it has completed the transfer of its holding in Max Bupa to Fettle Tone.

Company said it received requisite approval from IRDAI for the divestment of entire shareholding of 51% in its material subsidiary-Max Bupa Health Insurance Company Limited  to Fettle Tone LLP,an affiliate of True North Fund VI LLP.

Post fulfillment of all conditions precedents, the company has transferred its entire equity shareholding held in Max Bupa to Fettle Tone LLP and Max Bupa Health Insurance has ceased to be a subsidiary of the company effective December 16, 2019, the filing read.

Following the news, the share price of Max India rose to an intraday high of Rs 79 on BSE, rising 4% against its previous closing of Rs 75.95 apiece.

Sensex makes another fresh high

1: 00 PM

Indian benchmark indices Sensex and Nifty rose to new lifetime highs, tracking rise in Asian markets. Sensex has climbed 0.84% to another fresh all-time high of 41,293, after soaring to a new lifetime high of 41,185 on Monday. Nifty50 too, rose to the day's high of 12,153, merely points away from 12,158, it's all-time high.

Lupin completes Kyowa's divestiture to Unison

12: 55 PM

Lupin rose nearly 1% on announcing completion of Kyowa divestiture to Unison. Consequently, Kyowa has ceased to be a subsidiary of the pharma major, the filling added.

UCO Bank allots bonds worth Rs 500 crore

12: 50 PM

Shares of UCO Bank declined in the Tuesday's trade after the bank said it issued and allotted this day 9.71% unsecured rated listed redeemable non-convertible fully paid up Basel III Compliant Tier II Bonds (Face Value Rs.10 lakh) aggregating to Rs. 500 Crore

Ashiana Housing Ltd books 322 flats in Phase 1 of 'Ashiana Daksh' project

12: 45 PM

Ashiana Housing shares rose 1.3% today after the real estate firm said it booked 322 'Expression of Interests' out of the total 478 units available in Phase 1 & 2 of the project 'Ashiana Daksh'. As per the filing, area totalling to 3,75,232 square ft out of the total area of 5,60,504 square ft has been booked. The conversions are in progress and we expect more conversions in the near future, the filing read.

Maruti Suzuki rises 2%

12: 40 PM

Maruti Suzuki share price rose in early trade today after brokerage BofAML raised target price for the large-cap stock predicting rise in volumes and compounded annual growth rate. The brokerage upgraded Maruti  Suzuki to buy and raised its target price to Rs 8,650 from Rs 7,450.

Following the news, Maruti Suzuki share price rose up to 1.96% to  Rs 7, 274 against the previous close of Rs 7,135.05 on BSE.

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Equitas Holdings rises 3.5% on filing DRHP for Equitas Small Finance Bank's Rs 1,000-crore IPO

12: 35 PM

Shares of Equitas Holdings rose 3.5% on Tuesday after the company said its subsidiary Equitas Small Finance Bank has filed draft red herring prospectus (DRHP) with the regulator SEBI for Rs 1,000 crore initial public offer.

In September after the small bank failed to be listed within the stipulated timeframe as per the licence agreement, the banking regulator, Reserve Bank of India (RBI), refused to extend the listing deadline for Equitas SFB and barred it from opening new branches till further orders.

"In terms of the RBI In-Principle Approval, RBI Final Approval and SFB Licensing Guidelines, the Bank is required to list its equity shares on the Stock Exchanges within three years from the date of commencement of business by the bank," it said.

Following the announcement, shares of Equitas Holdings rose 3.5% to an intraday high of Rs 107.15, against the previous closing of Rs 103.50 on the BSE.

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Reliance and BP move forward with Indian fuels partnership

12: 25 PM

In a separate announcement, Reliance Industries Limited said that BP and RIL today signed a definitive agreement relating to the formation of their new Indian fuels and mobility joint venture. This follows the initial heads of agreement signed in August this year. The venture is expected to be formed during the first half of 2020, subject to regulatory and other customary approvals, the filing added.

Embibe acquires 90.5% stake in Funtoot

12: 20 PM

RIL announced that Embibe, a subsidiary of Reliance Industries Limited has acquired equity shares of eDreams Edusoft Private Limited ("Funtoot") for a cash consideration of Rs 71.64 crore, representing 90.5% stake holding in the equity share capital of Funtoot.

RIL shares currently trades 0.27% lower at Rs 1,562 on the BSE.

Metal stocks gain today

12: 15 PM

Metal stocks gain in the opening hour of trade, with Vedanta and Tata Steel rising over 1% each, followed by JSW Steel, rising 0.79% amid trade talk developments between the worlds' two largest economies on the 17-month old tariff dispute, that has deteriorated global economic growth.

LIC Housing Finance rises 1.5%

12: 00 PM

LIC Housing Finance rose 1.5% in Tuesday's trade after the company said it has made timely payment of interest for two of its Non-Convertible Debenture amounting to Rs 71.4 crore and Rs 84.46 crore, respectively.

Market Update

11: 45 AM

Sensex traded 305 points higher at 41,245 and Nifty50 climbed 86 points to rise to 12,140 on Tuesday

Magma Fincorp declines nearly 5% on rating downgrade

11: 30 AM

Shares of Magma Fincorp fell almost 5% on Tuesday, after the company announced that credit rating firm ICRA revised rating outlook on Magma Housing Fin's Non-Convertible Debenture Programme (NCDs) to 'negative' from 'stable'

Magma Fincorp declined to the day's low of Rs 53.35 on BSE, falling 4.82% apiece. The stock has fallen after 3 days of consecutive gain.

UK court dismisses $680 million Chinese banks' summary judgement plea against Anil Ambani

11: 20 AM

Shares of Anil Ambani led companies that are listed on the Indian exchanges BSE and NSE, rose today after the UK High Court on Monday dismissed an application for summary judgment by Chinese banks for a $680 million claim against Anil Ambani.

Shares of Reliance Infra, Reliance Power and Reliance Capital have been locking in 5% upper circuit for last 3 straight sessions and gained overall 15% in the last 3 days of trade. In a similar trend, the share price of Reliance Communication rose 5% to upper circuit limit after 6 days of fall.

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Shriram Transport declines 2.8%

11: 10 AM

Shares of Shriram Transport fell nearly 3% on Tuesday after the company said that ratings firm S&P has revised company's outlook to 'Negative' from 'Stable'. Following the revision in rating, shares of Shriram Transport fell 2.8% to the day's low of Rs 1,069, against the previous close of Rs 1,100 on BSE today.

Rupee trades at 70.98 per dollar

11: 05 AM

At the interbank foreign exchange the rupee opened at 70.96, registering a rise of 4 paise over its previous close. The domestic unit, however, could not hold on to the gains and was trading at 70.98 against the dollar.

On Monday, rupee had settled for the day at 71.00 against the US dollar.

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Market Update

10: 55 PM

Tracking firm cues from trade deal and sustained foreign fund inflow, benchmark Indian market indices Sensex and Nifty rose to record high levels, inline with global key indices. According to traders, domestic equities rallied as market participants were enthused following positive developments on the US-China trade talk front and last week's general election win for Britain's Prime Minister Boris Johnson. Foreign fund inflow too boosted market mood here, they said. While bourses in Asia were trading at their highest in eight months, benchmarks on Wall Street too ended at record peaks on Monday.

Here's a look at 10 things to know about Sensex hitting fresh high today

Gainers and Losers today

10: 45 PM

Maruti was the top gainer in the Sensex pack rising up to 1.85 per cent, followed by Vedanta, ITC, Yes Bank, Infosys, Tata Steel, Bharti Airtel and SBI.

On the other hand, ONGC was the top loser, shedding up to 0.64 per cent. PowerGrid, NTPC and Bajaj Auto were also trading in the red.

Sensex at 41,262 level

10: 35 AM

In a bullish move, Sensex is breaking its earlier record levels continuously and rising to new lifetime highs on Tuesday's trade.

Sensex has climbed to a fresh lifetime high of 41,262. Nifty50 too, rose to the day's high of 12,142, merely 10 points away from earlier recorded all-time high of 12,158.80.

Sensex hits another lifetime high

10: 30 AM

Sensex has made another lifetime high of 41,241. Earlier today Sensex had climbed 269 points to its fresh all-time high of 41,207.96 against the previous close of 40,938 on Tuesday's trade. On Monday the index had soared to a new lifetime high of 41,185 on BSE.

In a similar bullish move, Nifty trades near the day's high of 12,142, merely 10 points away from earlier recorded all-time high of 12,158.80.

Sensex makes fresh high, Nifty merely 20 points away from record high

10: 10 AM

Sensex has made another high in just one day of trading, with the index climbing 269 points to its fresh all-time high of 41,207.96 against the previous close of 40,938 on Tuesday's trade. On Monday the index had soared to a new lifetime high of 41,185 on BSE.

In a similar bullish move, Nifty trades near the day's high of 12,127.55, merely 31.25 points away from earlier recorded all-time high of 12,158.80.

SBI shares climb 1%

10: 05 AM

Shares of State Bank of India (SBI) traded 1% higher at Rs 335.30 on the BSE today, following the news that the SBI has bought a paltry Rs 500 crore of pooled assets portfolio of non banking finance companies (NBFCs) and housing finance companies (HFCs) in the first half of 2019-20 under the government's one time 6 months' partial credit guarantee scheme.

DII turn bearish, FII stays bullish

10: 00 AM

Net investment of equity and debt reported by foreign portfolio investors (FPIs) remained bullish with net buying logged at Rs 728.13 crore from Indian equities while domestic institutional investors (DIIs) sold Rs 796.38 crore on Monday.

Market rises further

9: 55 AM

Key benchmark indices Sensex and Nifty have climbed nearly 0.40% in trade on Tuesday, tracking bullish Asian markets. Sensex traded 240 points higher at 41,178 and Nifty50 climbed 60 points to rise to 12,144 on Tuesday.

Cipla acquires brand, trademark rights of anti-diabetic drug Vysov in India

9: 50 AM

Pharma major Cipla announced on Monday it has acquired brand name and trademark rights for Vysov and Vysov M of the anti-diabetic drug, Vildagliptin for the Indian market. The pharma firm, however, didn't disclose the financial transaction involved in the deal.

"The company has been co-marketing Vildagliptin in agreement with Novartis under brand names Vysov and Vysov M (Vildagliptin plus Metformin)," Cipla said in a filing to the Bombay Stock Exchange.

Commenting on the development, Cipla Executive Vice-President & Head India Business Nikhil Chopra said, "Owing to the increased affordability of Vildagliptin it is more accessible for better management of the disease. Cipla's acquisition of the trademark rights of Vysov will enable us to contribute to easier access of the drug in India."

Following the development, shares of Cipla traded 1.6% higher at Rs 466 apiece on BSE, against the previous closing of Rs 458.

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Moody's slashes India's GDP forecast

9: 45 AM

Moody's Investors Service on Monday lowered India's gross domestic product growth projection for the fiscal year 2019-20 to 4.9% from 5.8%. Earlier in November, Moody's had revised its sovereign rating outlook for India to 'negative' from 'stable'.

The global ratings' agency cited weak household consumption. Moody's said that India's weak household consumption will curb economic growth and weigh on the credit quality of Indian issuers in a range of sectors.

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Indices near record highs

9: 35 AM

On Tuesday's trading session, key market indices have climbed nearly 0.40% in trade, tracking bullishness from global cues. Sensex  have made an intraday  high of 41,121, trading mere 60 points away from lifetime high of 41,185, recorded on Monday's trade. Nifty50 too, rose to the day's high of 12,103.20, mere 50 points away from 41,158.

Stocks in focus

9: 25 AM

Stocks in the news: YES Bank, Cipla, Magma Fincorp, JM Financial, Shriram Transport among others are the top stocks to watch out for Tuesday's trading session based on recent and latest news developments.

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Global Market Update

9: 20 AM

Wall Street closed after hitting record high levels on Monday, backed by strong China data and trade deal optimism.

On Sunday, U.S. Trade Representative Robert Lighthizer said the trade deal was "totally done" and expected it to nearly double U.S. exports to China over the next two years.

European markets too closed higher on Monday over the impressive UK PMI data and strong victory by Boris Johnson in UK elections.

Asian Shares climbed higher  and rose to their highest in eight months on Tuesday, tracking upbeat momentum from Wall Street's streaking to all-time highs. Traders said investor confidence was boosted amid cooling trade tensions between the world's two biggest economies, one of the biggest hurdles for global economic growth.

Opening bell

9: 15 AM

Key benchmark indices Sensex and Nifty have started Tuesday on a positive note, tracking bullish Asian markets. Sensex traded 100 points higher at 41,052 and Nifty50 climbed 28 points to rise to 12,082 on Tuesday. Sectorally, all the indices traded in the green.

Last Close

9: 00 AM

Key indices turned volatile and traded lower on Monday, tracking global equities. 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.

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 uncertainty. 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 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.

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