Sensex Today: Share market ends in green, Sensex closes 170 points higher; Nifty at 11,870

SGX Nifty turned neagtive and currently trades down by 0.050 points or 0.56%, indicating a negative start for the domestic indices

U.S. President Donald Trump has again threatened to jack up U.S. tariffs on Chinese goods if the world’s two largest economies fail to reach a trade deal. Additionally, the previously announced 15% tariffs on about $156 billion worth of Chinese-made consumer goods will be scheduled to take effect on December 15

Stocks fell on Wednesday in Asia and Europe and initially in the United States as investors turned cautious as Trump on Tuesday said a trade deal with China was “close,” but offered no details and warned that he would raise tariffs “substantially” on Chinese goods without a deal.

 

Companies that are due to post their quarterly results today are namely ONGC, Bharti Airtel, Vodafone Idea, IDFC, Prabhat Dairy, Godfrey Phillips, Dilip Buildcon, HCC, Apollo Hospitals Enterprise, Reliance Infrastructure,Future Retail, SAIL, Grasim Industries, Union Bank of India, Glenmark Pharma, MEP Infrastructure, Balkrishna Industries, MTNL, GVK Power, Suzlon Energy, GMR Infra, Unitech, PFC, Reliance Power, Sadbhav Engineering, Dish TV, Page Industries, MOIL, Suven Life, NBCC, CESC among others.

 

Asian markets have opened on a positive note, with Nikkei, South Korea Index gaining marginally while Hong Kong Index declined 0.4%. SGX Nifty gained 29 points or 0.2% earlier.

SGX Nifty currently hovers 0.16% higher at 11,885, indicating a higher opening for the Indian market.

 

Net investment of equity and debt reported by foreign portfolio investors (FPIs) remained positive with net buying logged at Rs 584.92 crore from Indian equities while domestic institutional investors (DIIs) turned bearish with net selling logged at Rs 890.03 crore on Wednesday.

 

The rupee on Wednesday fell 62 paise to hit over a two-month low of 72.09 against the US dollar amid US-China trade dela uncertainity and poor macro data amid lingering indications of economic depression.

IRCTC announced its first earnings after its listing on Indian bourses on October 14, 2019. Helped by sharp rise in revenue from e-ticketing segment, IRCTC reported a 14% yearly advance in its consolidated net profit to Rs 172.16 crore for the half-year period ended September 30, 2019,


IRCTC's revenue from catering business increased 12.06% yearly to Rs 538.66 crore versus Rs 480.65 crore in the same period last year, while its earnings from internet ticketing services rose 80.8% yearly to Rs 199.3 crore from Rs 110.23 crore.
 
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At the pre-open session on Thursday, Sensex has risen 66 points from 40,179 and Nifty  is rising 22 points at 11,863 level.

Coffee Day Enterprises Ltd. on Wednesday announced that it requires further time to announce its audited financial results for the quarter ended June 30 and half year ended September 30 of fiscal 2019-20.

The company’s board of directors said it had appointed Ashok Kumar Malhotra to investigate into the letters which former chairman late V.G. Siddhartha had written prior to his demise The process was still under way and would be completed in a few weeks, company said.

 

Retail inflation, calculated on the basis of Consumer Price Index (CPI), skyrocketed and  touched a 16-month high of 4.62 per cent in October, on the back of high vegetable prices, showed data released by National Statistics Office. In the meanwhile, inflation in food basked rose to 7.89 per cent in October.

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While Sensex on Thursday has opened on positive ground, rising 60 points to 40,175 mark, Nifty has declined 7 points to 11,832 level

On the sectoral front, except IT, media and auto stocks that traded bullish and financial services index that traded flat, all the other indices traded in the red, with 1.5% fall registered in pharma and PSU banking scrips.

 The U.S. and China have yet to announce a new location or time to seal the agreement after an international gathering in Chile was canceled, and it's unclear whether Trump's renewed threats will move things forward.

Over the past week, global stocks have surged as optimism that by December 15 tariffs on Chinese goods would be delayed.

 After a volatile start, benchmark indices earsed gains to trade on a bearish note by the first hour of Thursday's trade.

While Sensex declined 80 points to 40,035, Nifty50 declined 30 points 11,808 level, backed by heavy selling pressure in  PSU banks, metal and pharma scrips.


 

Shares of Cofee Day Enterprises rose 3% higher to the intraday high of Rs 43.55 on the BSE today. The CCD stock has gained 11% value in a week and 14% in a month, however, declined 84% on a year-to-date basis.

Coffee Day on Wednesday, released highlights of its earnings for the June quarter. The coffee chain operator's net profit jumped a whopping 8776% from a year ago period to Rs 1,509 crore in April-June quarter this year, which included Rs 1740 crore as one-time gain as sale proceeds from equity stake held in Mindtree.
 

The Department of Telecommunications (DoT) has issued a notice to telecom operators to pay their revenue share dues within three months as directed by the Supreme Court, according to an industry source.

After the recent development, shares of telecom company were trading lower today, with over 15% decline registered in Vodafone shares, while 3% fall in Airtel stock price. Bharti Infratel also tanked close to 8% following the notice

After a volatile start, benchmark indices recovered from early losses, with Sensex and Nifty rising 0.20% each. While Sensex has risen 115 points to 40,218, Nifty50 rose 18 points to 11,859 level. On the sectoral front, strength in media, financials , IT and banks supported the index while declines in FMCG, metal and pharma pushed indices further down.

Vedanta shares rose in the early trade on Thursday after the emerged as the highest bidder for Jamkhani coal block in Odisha’s Sundargarh district in the 10th tranche of coal block auction conducted by the Ministry of Coal, Government of India.

Once operational, the coal block with an annual capacity of 2.6 million tonnes will provide fuel security, improve power availability, and further strengthen the company’s aluminium operations and performance.

Shares of Vedanta opened with a gain of 3.07% today and touched an intraday high of Rs 152.8 on the BSE.

The annual rate of inflation, based on monthly WPI, stood at 0.16% (provisional) for the month of October, 2019 against 0.33% recorded in September month.

 

Domestic equity market erased all gains to trade on flat by the afternoon hours on Thursday. While Sensex has risen marginally higher 40 points at 40,158, Nifty has declined 7 points to 11,832 level.