Share Market Update: Equity market indices Sensex and Nifty closed majorly positive after climbing to fresh record high levels, on account of strong global and domestic cues. After rallying to a record peak of 41,899 the 30-share BSE S&P Sensex closed highest ever, rising 259 points to 41,859 level and Nifty settled at a new closing peak of 12,329, rising 72 points by the closing bell. The broader index NSE Nifty scaled a high of 12,337. Infosys, Sun Pharma, ITC, HCL Tech, Tata Steel, ICICI Bank and Kotak Bank were among the top gainers today. On the other hand, TCS, Maruti and HDFC were trading in the red. Sectorally, all indices traded in the green territory, with IT index gaining over 1%, followed by PSU Banking and realty sector index that rose 0.50% each. Globally, stocks paused near 19-month peaks ahead of the expected signing on a Sino-US trade deal. Moreover, fall in oil price further boosted market sentiments.On the domestic front, overall sentiment was optimistic after November IIP spiked to 3-month high. On Friday, Infosys announced strong FY20 guidance, marking the beginning of December earnings season. Investors are also awaiting inflation numbers to be released later in the day.
Here's a look at the live updates of the market action on BSE and NSE today:
3: 45 PM
Equity market indices Sensex and Nifty closed majorly positive after climbing to fresh record high levels, on account of strong global and domestic cues. After rallying to a record peak of 41,899 the 30-share BSE S&P Sensex closed 259 points higher at 41,859 level and Nifty ended 72 points higher at 12,329 mark. The broader index NSE Nifty scaled a high of 12,337. Infosys, Sun Pharma, ITC, HCL Tech, Tata Steel, ICICI Bank and Kotak Bank were among the top gainers today. On the other hand, TCS, Maruti and HDFC were trading in the red.
JSW Steel shares volatile after company declares Q3 production figures
2: 45 PM
JSW Steel shares were trading in a volatile move after the company said its Q3 crude steel production slipped 5% down to 4.02 MT in Q3 FY 2019-20 compared to 4.23 mt on a yearly basis. It was up 5% on a quarterly basis. Company's production of rolled products flat and long was lower by 1% and 14% on a yearly basis.They were up 6% and 9% on a quarterly basis.
NMDC rises 2.5%
2: 30 PM
Shares of NMDC limited touched an intraday high of Rs 124.1, rising 2.52% on BSE as the company registered lease deed extension of 5,10,14,14NMZ deposits of Bailadila iron ore mines today for next 20 years. This would result in renewed 29 MT production capacity as well as uninterrupted ore supply.
Tata Power gains over 1%
2: 10 PM
Tata Power shares were trading 1% higher on Monday after the company said that its wholly-owned arm has received Letter of award from NTPC for a 250 mw solar project worth Rs 1,505 crore. With this order, the order book of Tata Power Solar stands at approximately Rs 7,600 crore, including external and internal orders, the filing added later.
Tata Elxsi up almost 6% post Q3 results
1: 50 PM
Tata Elxsi touched an intraday high of Rs 897, rising nearly 6% on BSE today after the company reported an improved earnings on a sequential basis for the December quarter. Company's profit for the qurter ended December 2019 came in 51.4% higher at Rs 75.4 crore, while its revenue was up 9.7% at Rs 423.4 crore. Company's EBITDA was 34% higher at Rs 94.2 crore & the margin stood at 22.2%.
IndiGo shares rise 1%
1: 40 PM
Shares of InterGlobe Aviation Ltd climbed over 1% today following reports that the civil aviation regulator DGCA has extended airline's deadline for replacing unmodified PW engines till May 31. IndiGo had requested Pratt & Whitney engine replacement for entire fleet by June 2020.
Gold falls below 39,800
1: 30 PM
Gold prices in the domestic market fell below 39,80 today. On MCX, February Gold futures slipped below 39,800 levels as expectations of an interim trade deal between the United States and China boosted the dollar
Rupee holds 70.78 level
1: 20 PM
The Indian rupee is holding on the morning gains and trading at day's high level at 70.78 per dollar
Tata Motors falls over 2% after reporting December sales
1: 00 PM
Tata Motors shares touched an intraday low of Rs 192.3, falling 2.09% on BSE after the compay group's global wholesales stood at 97,348 for the mmonth of December 2019. Tata Motors' Group global wholesales in December 2019, including Jaguar Land Rover, were at 97,348 units, lower by 3%, as compared to December 2018.
Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range in December 2019 were at 34,526 units, lower by 15%, compared to December 2018. Global wholesales of all passenger vehicles suring December 2019 stood at 62,822 units, higher by 5% as compared to December 2018.
Edelweiss Financial jumps 8%
12: 45 PM
Shares of Edelweiss Financial Services recovered from early losses and rose over 8% on Monday after the company clarified to the exchnages BSE and NSE that it has no relationship with Capstone Forex Pvt. Ltd and all allegations of FEMA (Foreign Exchange Management Act) violations are false.
Recovering from a 5% drop with the openning bell, shares of Edelweiss Financial Services climbed 8.02% to an intraday high of Rs 114.5 on BSE. The stock, therfore has traded in a wide range of Rs 13.7 today.
Torrent Power gains 1% on receving upgrade in ratings for NCDs and LT bank facilities
12: 30 PM
Torrent Power shares gained ove 1% today after the company announced that CRISIL has upgraded its rating on the non-convertible debentures and long term bank facilities of the company to 'CRISIL AA/Stable' from 'CRISIL AA-/Stable' and reaffirmed its rating on the short-term bank facilities and commercial paper at 'CRISIL A1 +'
12: 10 PM
Benchmark indices Sensex and Nifty hit fresh all-time highs on Monday as Asian markets gained ahead of signing of a US-Chinese trade pact this week. While Sensex rose 300 points to 41,899 against previous close of 41,599, Nifty gained 81 points to 12,337.
Lupin shares falls over 2%
12: 00 PM
Lupin shares touched an intraday low of Rs 743, falling 2.11% on BSE after the company said it has received a communication from the USFDA classifying the inspection conducted at its Tarapur manufacturing (API) facility between September 16 to September 20, 2020 as Official Action Indicated (OAI).The inspection at the Tarapur facility had closed with three observations. The company does not believe that this inspection classification will have an impact on disruption of supplies or the existing revenues from operations of this facility. The company is in the process of sending further updates of its corrective actions to the USFDA and is hopeful of a positive outcome, the filing added.
Avenue Supermarts gains over 3% on healthy Q3 figures
11: 50 AM
Avenue Supermarts today touched an intraday high of Rs 1941.4, rising 3.44% on BSE after the Department Stores company which runs the DMart chain of stores in India, reported 53.3 percent yoy rise in net profit at Rs 394 crore for the quarter.
Company's profit before tax for the period stood at Rs 497.3 crore, a YoY growth of nearly 26%. Dmart's Net sales for the December quarter grew 24% to Rs 6,752 crore, amid weak consumer sentiment. Its EBITDA margins in Q3 came in at 8.8% , which expanded by 50 bps over the year-ago period. DMart also added 7 stores in Q3, taking its total store additions to 20 in the first nine months of the current financial year.
Tata steel gains over 1%
11: 40 AM
Tata Steel shares gained over 1% today and were trading among the top gainers on NSE after the company said it has announced that Tata Steel Netherlands Holdings BV, a wholly-owned subsidiary of Tata Steel, has executed agreementsfor the refinancing of its bank debt.Tata Steel Netherlands Holdings has raised term loan facilities of euro 1.75 billion from 19 banks. This represents a reduction of euro 500 million versus the external debt outstanding in Tata Steel Europe as of March 2019.The fresh arrangement will enable the standalone European business to have a more robust balance sheet. The company is also putting in significant efforts to restructure and improve its operating performance, the filing added.
YES Bank declines over 8%
11: 30 AM
YES Bank shares lost over 8% to Rs 41.2 compared to the previous close of Rs 44.80 on BSE today. The lender on January 10 said Uttam Prakash Agarwal, independent director and chairman of YES Bank's Audit Committee, has resigned. Agarwal cited deteriorating corporate governance standards and compliance failure in the bank as the reason for his resignation. The lender said it was reviewing 'fit and proper' status of Agarwal for appointment on the board as directed by the Reserve Bank of India and he quit prior to the commencement of proceedings of the meeting.
Rupee opens higher at 70.82 per dollar
11: 00 AM
The rupee opened at 70.82 against the US dollar at the interbank foreign exchange, registering a rise of 12 paise over its previous close. On Friday, the rupee had settled for the day at 70.94 against the US dollar.
10: 45 AM
After rallying 293.69 points to a record peak of 41,893.41, the 30-share BSE index Sensex traded 250 points or 0.60 per cent higher at 41,848.29. Similarly, the broader index NSE Nifty scaled a high of 12,337.75, before trading 70.35 points or 0.57 per cent higher at 12,327.15.Infosys shares climb 4%
10 : 40 AM
Infosys shares climbed 4% today as it posted healthy profit in the December quarter and its audit panel found no evidence of financial wrongdoings or misconduct by its executives
Infosys share price rose up to 4.01% or 30 points to Rs 767.85 compared to the previous close of Rs 738.25 on BSE. Share price of Infosys opened 3.35% higher at Rs 763 today. The large-cap stock has gained 6.53% in the last three days. The stock has gained 12.28% during last year. Market cap on Infosys rose to Rs 3.27 lakh crore on BSE in early trade. The stock hit its 52 weeks high of Rs 847.40 on September 6 2019. It reached its 52-week low of Rs 615 on October 23, 2019.
Gainers/Losers on Monday
10 : 35 AM
Infosys, Sun Pharma, ITC, HCL Tech, Tata Steel, ICICI Bank and Kotak Bank were among the top gainers today. On the other hand, TCS, Maruti and HDFC were trading in the red.
Domestic and Global cues
10 : 30 AM
According to traders, besides positive quarterly number from Infosys, positive domestic macro data, firm global cues and foreign fund inflow too boosted market mood here. Investors are also awaiting inflation numbers to be released later in the day.
On the global front, with US-Iran tensions cooling off, market focus has shifted to the upcoming US-China trade deal signing, traders said.
Nov IIP spikes to 3-month high
10: 25 AM
Having contracted for three months in a row, the Index of Industrial Production (IIP) recorded a growth of 1.8 per cent in November mainly on account of improvement in the manufacturing sector, said government data on Friday.
10 : 20 AM
After rallying 293.69 points to a record peak of 41,893.41, the 30-share BSE index Sensex traded 250 points or 0.60 per cent higher at 41,848.29. Similarly, the broader index NSE Nifty scaled a high of 12,337.75, before trading 70.35 points or 0.57 per cent higher at 12,327.15.
Brent crude slips lower
10: 15 AM
Brent crude futures slipped 0.09 per cent to USD 64.92 per barrel.
10: 10 AM
As per market analysts, domestic equity market is currently tracking global markets that are also recording new highs. Market locally will be on a positive move till the February1, Union Budget day. Traders dais markets will have high expectations from the budget's outcome and any negative surprises will lead to sharp correction.
FII/ DII action on Friday
10: 05 AMNet investment of equity and debt reported by foreign portfolio investors (FPIs) turned positive with net buying logged at Rs 578.28 crore from Indian equities while domestic institutional investors (DIIs) turned bearish with net selling logged at Rs 251.74crore on Thursday.
Vodafone Idea shares in focus
Vodafone Idea shares gained in trade although erased early losses to trade lower after the company said its board has approved modification for utilization of Rights Issue proceeds for an amount of Rs 28,261 million after the DoT granted a 2-year moratorium on deferred liabilities on spectrum payment. We wish to inform you that the Board of Directors of the company has, by a resolution dated 10 January 2020, approved the modification to the objects of the Rights Issue (as defined hereinafter), company's regulatory statement said.
"The Company had allotted 19,999,830,911 equity shares (face value Rs 10 with a premium of Rs 2.50) by way of a rights issue (Rights Issue) on 4 May 2019 for an aggregate amount of Rs 2,499 crore (Issue Proceeds),"the filing added.
Vodafone had proposed to utilize an amount of Rs 1,867 crore towards payment of certain deferred payment liabilities to the Department of Telecommunications (DoT) and repayment of certain borrowings (including interest thereon). The aforesaid amount included an amount of Rs 282 crore to be utilised as part payment towards a deferred payment liability of Rs 627 crore to DoT which was payable by 9 April 2020.
Insurance companies to report strong earnings growth
9: 50 AM
Insurance companies have reportedly posted strong premium growth this earnings quarter. While HDFC Life reported annual premium growth of 35.3% yoy in December quarter of 2019, ICICI Prudential LIC reported annual premium growth of 11.4% to 830 crore on a yearly basis. Similarly, Max Financial Services reported strong growth of 22.9% yoy and SBI Life posted growth of 18.2% yoy.
Eyes on US-China meet for signing phase 1 of trade deal
9: 45 AM
Global markets will be focusing on Washington this week, where China and the US will finally put pen to paper on their much-needed "phase one" trade deal. While there are not expected to be any major announcements at the signing, investors will be looking for signs of progress on the next part of negotiations for a wider agreement. The news of finally signing the interim phase one deal has lowered tensions between the economic superpowers and boosted hopes for the global economy.
Rupee opens higher versus Friday's close
9: 40 AM
Rupee rises 12 paise to 70.82 against US dollar in opening trade, compared to Friday's close of 70.93 per US dollar.
9: 35 AM
Sectorallty, all indices traded in the green territory, with IT index gaining over 1%, followed by PSU Banking and realty sector index that rose 0.50% each.
9: 30 AM
BSE S&P Sensex traded 250 points higher at 41,853 level and Nifty traded 73 points higher at 12,330 mark.
Indices hit fresh highs again
9: 25 AM
Since the opening bell, domestic equity indices are climbing to fresh record high levels. BSE Sensex has made a fresh lifetime high of 41,866 today and Nifty climbed to the all time of 12,337.
Opening Session: Market hits fresh lifetime highs
9: 20 AM
Equity market indices Sensex and Nifty opened majorly positive and climbed to record high levels, tracking overseas trend, on account of strong global and domestic cues. BSE S&P Sensex traded 215 points higher at 41,814 level and Nifty traded 65 points higher at 12,321 mark.
Within minutes of Monday's opening session, BSE Sensex breached earlier all-time high of 41,822 level and made a fresh lifetime high of 41,862 today and Nifty climbed to the all time of 12,331.10, crossing its earlier level of 12,311.
Pre-open on Monday
9: 05 AM
BSE Sensex has pre-opened 188 points higher at 41,788 level and Nifty trades 40 points higher at 12,296 mark.
8: 55 AM
On the domestic front, overall sentiment is optimistic as Nov IIP spiked to 3-month high, and rupee closed at a 3-month low below 71. Moreover, fall in oil price is likely to boost the market sentiments. On Friday, Infosys announced strong FY20 guidance, marking the beginning of December earnings season.
Global Market Update
8: 30 AM
Globally, stocks paused near 19-month peaks ahead of the expected signing on a Sino-US trade deal. Moreover, fall in oil price is likely to boost the market sentiments.On Wall Street, US indices fell on Friday from record-high levels and closed lower ahead on of the signing of interim phase one deal between US and China, in a move to ens a nearly two year old trade dispute. The Dow Jones Industrial Average fell 133.13 points, or 0.46%, to 28,823.77, the S&P 500 lost 9.35 points, or 0.29%, to 3,265.35 and the Nasdaq Composite dropped 24.57 points, or 0.27%, to 9,178.86.
On the Singaporean Exchange, SGX Nifty traded up 50 points or 0.34% at 12,333. In the meanwhile, US Futures (Dow Jones) traded up 71 points at 28848. In commodities, Brent Crude trades at $64.95/bbl down 0.05%.
MSCI's broadest index of Asia-Pacific shares outside Japan barely budged, while Japan's Nikkei was closed for a holiday.
Strait Times and Shanghai Composite fell in red territory although traded marginally lower. On the other hand, HanSeng grew 240 points, followed by marginal gains in Taiwan and South Korea's KOSPI index.
8: 15 AM
BSE S&P Sensex ended 147 points higher at 41,599 and NSE Nifty50 climbed 40 points to end at 12,256. In terms of sector, except private banking, all the other indices traded higher today, with metal and realty indices gaining 1% each.