Share Market Update: After a volatile trading session, benchmark indices Sensex and Nifty closed on a flat note on Monday, amid mixed global cues. BSE Sensex ended 17 points lower at 41,558 and Nifty closed 14 points higher at 12,260. While banking, PSU banking, financial services and IT sector indices closed in the red, realty, pharma, media, metal, FMCG and auto closed in the green. Hindalco, BPCL, YES Bank, SBI and Vedanta were among the major losers. On the other hand, Tata Motors, Sun Pharma, Bharti Airtel, IndusInd Bank and Eicher Motors were the top gainers in today's session. Earlier today, indices traded near record highs, with BSE Sensex rising to the intraday high of 41,714.73, nearing to lifetime high of 41,809.96. Similarly, NSE Nifty rose to the day's high of 12,286.45, hovering mere points away from the all time value of 12,293.90. In the previous session, the 30-share Sensex ended 411.38 points higher at 41,575.14 and the broader NSE Nifty closed 119.25 points higher at 12,245.80.
Here's a look at the live market events on Sensex and Nifty for Monday's trading session:
3: 45 PM
After a volatile trading session, benchmark indices Sensex and Nifty closed on a flat note on Monday, amid mixed global cues. BSE Sensex ended 17 points lower at 41,558 and Nifty closed 14 points higher at 12,260. While banking, PSU banking, financial services and IT sector indices closed in the red, realty, pharma, media, metal, FMCG and auto closed in the green.
BEML climbs 2.46%
2: 00 PM
BEML shares rose over 2% in the early trade on Monday after the company said it has signed a memorandum of understanding (MoU) with IRCON International to explore opportunities in the overseas market by synergising each other's strengths for large infrastructure projects in the transportation sector.
The filing added that the MoU is aimed at promoting supply of BEML manufactured rolling stock and construction equipment for railway projects outside India wherein IRCON will carry out civil and construction work as well as facilitate design validation and provenness for rolling stock of BEML to address export opportunities together.
Commenting on the announcement, Dr. Hota, CMD of BEML said, "Both the companies by synergising their strengths can attain new heights in the international market. Government of India LoC is huge opportunity for BEML & IRCON to work together."
Following the announcement, shares of BEML rose 2.46% to the intraday high of Rs 996.95 on BSE.
RITES share price climbs nearly 3%
1: 35 PM
The share price of RITES climbed 2.92% to the intraday high of Rs 293.90 on BSE today, after the company announced an interim dividend of Rs 6 per share and said it acquired stake in IRSDC.
The company board at its meeting held on December 27 declared an interim dividend of Rs 6 per share and fixed January 10, 2020 as the record date for the purpose of payment of dividend.
The Board of Directors of IRCTC also approved an investment of Rs 48 crore to acquire 24% stake in Indian Railways Station Development Corporation (IRSDC).
Bharti Airtel rises 2%
1: 20 PM
Shares of Bharti Airtel jumped 2% today to the intraday high of Rs 464.75 on BSE, after the telecom major hiked its mandatory minimum recharge for pre-paid customers to Rs 45 from earlier Rs 35.
Cadila Healthcare falls 1%
1: 00 PM
Cadila Healthcare shares fell 1% to the day's low of Rs 252.50 on BSE, after the pharma major notified the exchanges that the company has no plan to sell two of its divisions, as speculated by various media reports.
Punjab & Sind Bank declines 10%
12: 45 PM
Shares of Punjab & Sind Bank fell 10% to the intrday low of Rs 20.35 on BSE today after the company said that rating firm CARE has revised rating outlook for the lender's various bonds scheme to negative from stable.
Expert View: Prince Pipes listing
12: 40 PM
Commenting on the Prince Pipes' listing in the exchanges, Santosh Meena, Senior Analyst from TradingBells said," On the expected line, Prince pipe debut secondary market with a 10% discount to its issue price. It looks attractive by its valuation but there is a question mark on its corporate governance. There are concerns regarding related party transactions and pledging of promoter's shares. Investors are advised to avoid this stock and look for other quality stocks in the same space."
Gateway Distriparks climbs 13%
12: 35 PM
Gateway Distriparks rose nearly 13% to the intraday high of Rs 124 on BSE today after the company announced that it plans to sell its entire stake sale in Snowman Logistics to Adani Logistics for around Rs 296 crore.
12: 30 PM
Sectorally, gains in auto, FMCG, media and pharma indices were capped by losses in IT, metal, banking and realty indices.
12: 25 PM
Hindalco, BPCL, YES Bank, SBI and Vedanta were among the major losers. On the other hand, Tata Motors, Sun Pharma, Bharti Airtel, IndusInd Bank and Eicher Motors were the top gainers in today's session.
Market turns red
12: 20 PM
Benchmark indices Sensex and Nifty erased early gains and fell on Monday's trade. BSE Sensex declined 90 points to trade at 41,483 and NSE Nifty traded 22 points lower at 12,223.
Adani Ports rises 2%
12: 15 PM
Shares of Adani Ports and Special Economic Zone climbed 2% on BSE today to the intraday high of Rs 370.45, after Adani Logistics, its subsidiary announced it had signed an agreement to acquire a 40.25% stake in Snowman Logistics from Gateway Distriparks for Rs 296 crore.
Infibeam Avenues rises 6.8%
12: 00 PM
Infibeam Avenues' shares today rose to the day's high of Rs 57, rising 7% against its previous close of Rs 53.70 on BSE, on back of stong volume. Exchanges BSE and NSE have asked clarification from the company today in reference to movement and increase in volume. In its official reply, company said," Company has not withheld any material information/event that in our opinion would have a bearing on the price/volume behaviour in the scrip".
Reliance Capital rises 5%
11: 35 AM
Shares of Reliance Capital gained and locked 5% upper circuit to Rs 14 on BSE today after the company announced that the IRDAI has restored shareholding of the company in Reliance General Insurance Company Ltd to 100%.
Rupee rises 5 paise to 71.30 per dollar
11: 30 AM
At the interbank foreign exchange the rupee opened at 71.36, then gained ground and touched 71.30, registering a rise of 5 paise over its previous close. On Friday, rupee had settled for the day at 71.35 against the US dollar.
YES Bank top Nifty loser
11: 20 AM
YES Bank shares fell 2.7% lower to the day's low of Rs 46.7 and were among the top Nifty loser in the first hour of morning session today. Since the negative rating outlook by the rating firm Citi, share price of YES Bank has lost 6.45% value on the last 3 sessions.
11: 00 AM
Indices are trading near record highs on Monday's trading session, with BSE Sensex rising to the intraday high of 41,714.73, nearing to lifetime high of 41,809.96. Similarly, NSE Nifty rose to the day's high of 12,286.45, hovering mere points away from the all time value of 12,293.90
Global market update
10: 55 AM
Asian stocks drifted lower from the highest level in a year and a half, with few financial-market catalysts going into the year-end. US Futures (Dow Jones) today traded at 28,653, rising 43 points.On the Wall Street, US indices Dow Jones and S&P closed at record highs, while Nasdaq slipped as exchanges closed out for the Christmas week.
Adani Ports top Nifty gainer
10: 35 AM
Shares of Adani Ports rose nearly 2% to Rs 370.45 on BSE today and traded among the top Nifty gainer on Monday after the company acquired Snowman Logistics from Gateway Distriparks.
FII and DII action on Friday
10: 20 AM
Net investment of equity and debt reported by foreign portfolio investors (FPIs) turned positive with net buying logged at Rs 81.37 crore from Indian equities while domestic institutional investors (DIIs) turned bearish with net selling logged at Rs 125.77 crore on Feiday.
Shares of Prince Pipes and Fittings make tepid debut
10: 15 AM
Shares of Prince Pipes and Fittings made a tepid listing on the exchanges BSE and NSE today. The company debuted at the price Rs 160 on BSE, a 10.11% discount to the issue price of Rs 178.
The Rs 500-crore offer initial public offer of Prince Pipes and Fittings, ran from December 18 to December 20, 2019. It was subscribed 2.22 times on its last day of bidding for subscription.
10: 00 AM
Sectorally, except PSU Banking and metal indices, all the other sectors traded in the green, with major buying registered in media and auto stocks.
9: 45 AM
ITC, M&M, Adani Ports, Eicher Motors, HDFC Bank were the top gainers in the morning session. On the other hand, Reliance, Tata Steel, SBI, JSW Steel, Coal India were among the major losers.
9: 15 AM
Benchmark indices Sensex and Nifty opened on a positive note on Monday amid high buying in auto and media stocks. Sensex rose 120 points to 41,700, and Nifty traded 36 points higher at 12,280.
9: 10 AM
Benchmark indices Sensex and Nifty closed higher on Friday on fund infusion in some public sector banks and positive developments on the US-China trade deal front. While Sensex closed 411 points higher at 41,575, Nifty climbed 119 points to 12,245. Axis Bank (3.33%), PowerGrid (2.27%) and SBI (2.24%) were the top Sensex gainers.
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