Sensex Today: Market ends in red, Sensex closes 70 points lower; Nifty at 12,018

businesstoday.in | Updated Dec 05, 2019, 03:48 PM IST

Share Market Today: Market failed to hold recovery and closed bearish on Thursday, after RBI announced it kept the repo rate unchanged at 5.15% and decided to continue with its accommodative stance to support the economy. BSE Sensex closed 70 points lower at 40,779 and NSE Nifty declined 24 points to 12,018 by the closing bell. On the sectoral front, gains in FMCG, IT, media and realty stocks were capped by losses in banking, auto, pharma and metal scrips. All the six members of the MPC voted in favour of a rate pause. The central bank also revised GDP growth downwards to 5 per cent for 2019-20 from 6.1 per cent projected in its October policy. The CPI inflation projection is revised upwards to 5.1-4.7 per cent for H2 FY20 and 4-3.8 per cent for H1 FY21.

Share Market Today: Zee Entertainment, Indian Oil Corporation, ICICI Bank, Titan and TCS were among the top gainers in Thursday's trade. On the contrary, HCL Tech, Coal India, Bharti Airtel, Sun Pharma and GAIL were among the top losers.

Dec 5, 2019 8:54 AM IST

Stocks in the news

Bharti Airtel, Ashok Leyland, IL&FS, Artson Engineering, Vaibhav Global, TTK Prestige, Canara Bank, Tata Power among other stocks will remain in focus in Thursday's trading session, based on recent and latest news developments.

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Dec 5, 2019 8:58 AM IST

Market Update

Yesterday, market bounced back after a fall of three trading sessions, tracking gains in Asian markets following reports that China and America were moving closer to a trade deal. Nifty advanced nearly half percent to close above 12k level. India Vix cooled down by 8.52% at 13.32.

Dec 5, 2019 9:01 AM IST

Reliance Jio announces new plans

Reliance Jio announced new tariff plans which will be costlier by up to 39% compared to the existing plans for its customers. The new tariffs range from Rs 99 a month to Rs 2,199 for one year.

With announcing the “NEW ALL-IN-ONE PLANS”, company said plans will provide upto 300% more benefits to the Jio consumers, upholding the Jio promise of providing the best-quality service at the lowest price globally.

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Dec 5, 2019 9:02 AM IST

Ashok Leyland to shut down production for up to 12 days

Ashok Leyland announced on Wednesday said it will suspend manufacturing operations at some of its plants for up to 12 days in December. The company said non-working days will be observed in order to align its production with sales.

"We hereby inform that in order to align production in line with the market demand for our products, the company proposes to observe non-working days ranging from 2-12 days in few plants, during the month of December 2019," Ashok Leyland said in a filing to the Bombay Stock Exchange.

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Dec 5, 2019 9:04 AM IST

Bharti Airtel to raise $3 billion via equity, debt

Bharti Airtel on Wednesday said its board has approved the telecom operator's proposal to raise $3 billion (approximate Rs 21,100 crore) through various modes like equity, debt and equity-based instruments among others.

As per the filing submitted yesterday post market hours, the company will utilise the fund to pay dues emerging from a recent Supreme Court order on the definition of adjusted gross revenue (AGR).

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Dec 5, 2019 9:05 AM IST

IL&FS reports Rs 22,527 crore net loss in FY19

Infrastructure Leasing & Financial Services (IL&FS) on Wednesday reported a standalone net loss of Rs 22,527 crore for the fiscal to March 2019, as against Rs 333 crore in the previous fiscal. This is the first earnings announcement after the government sacked its board in October last year.

As of end-March 2019, total assets stood at Rs 4,148 crore, a pale shadow of Rs 23,868 crore year-ago, a company statement said, adding its liabilities rose to Rs 21,083 crore from Rs 18,276 crore in FY18.

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Dec 5, 2019 9:07 AM IST

CSB Bank share closes 54% higher over issue price on listing day

Newly listed CSB Bank climbed up 54% to close at Rs 300 against its IPO price at Rs195 a share.

The stock extended gains to hit an intra day high of Rs 307, rising 57% above its issue price.

Compared to the opening price, the share ended higher by 9.13% or 25.10 points to Rs 300.10. Its market capitalisation stood at Rs 5,205 crore on BSE.

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Dec 5, 2019 9:09 AM IST

RBI likely to cut repo rate

The Reserve Bank of India (RBI) 's six-member Monetary Policy Committee (MPC) headed by Governor Shaktikanta Das will release its fifth bi-monthly monetary policy statement today, and it's likely the central bank will go for a 25 basis point repo rate cut because of the persisting economic slowdown.

The repo rate currently stands at 5.15 per cent.

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Dec 5, 2019 9:11 AM IST

Oil prices at peak

Brent spiked to $64 ahead of OPEC Two days meeting today.

Yesterday brent crude rallied nearly 4.5% today, closing above $58.50 a barrel.

Members of OPEC are meeting this week to discuss their current production levels. In addition to this, U.S. Energy Information Administration published its weekly report on oil storage levels, which showed a decline of 4.9 million barrels.

Dec 5, 2019 9:13 AM IST

Pre open session

BSE Sensex pre-opened on Thursday at a gain of 135 points higher at 40,988 compared to last closing of 40,850 and NSE Nifty treded at 12,071, rising 28 points against its previous close of 12,037

Dec 5, 2019 9:18 AM IST

HDFC AMC QIP for retail investors opens today

HDFC AMC QIP for retail investors will open today at Rs 3,140 a share (7% discount of QIP) while yesterday, non-retail segment was subscribed by 1.72 times.

The company announced that Standard Life Investments, one of its promoters, will be selling 2.2% stake in the company through Offer For Sale (OFS) on 4-5 December. The share sale is being undertaken for achieving the minimum 25% public shareholding in the company, as prescribed under the norms by the market regulator SEBI.

Around 25% of the shares of total issue size will be reserved for mutual funds and 10% for retail investors.

Dec 5, 2019 9:19 AM IST

Ujjivan Small Finance highest ever subscribed since 2019

The Rs 750-crore IPO of Ujjivan Small Finance Bank got subscribed 170 times, on the final day of bidding December 4. The issue size was the highest subscription of 2019.

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Dec 5, 2019 9:22 AM IST

Market opens higher

Domestic equity indices Sensex and Nifty opened on a bullish note on Thursday, ahead of highly anticipated rate cut by the RBI in its MPC meet scheduled today.

BSE Sensex opened on Thursday with a gain of 90 points higher at 40,935 compared to last closing of 40,850 and NSE Nifty traded at 12,063, rising 20 points against its previous close of 12,037

Dec 5, 2019 9:30 AM IST

Global Market Update

Following reports that the world's two largest economies were closer to agreeing how many tariffs would be rolled back in a "phase one" trade deal, global indices took reversed trend from bearish to bullish and ended Wednesday's trade in green.

Wall Street bounced back to green, with indices namely Dow Jones Industrial Average rising 0.53%, the S&P 500 gaining 0.63% and the Nasdaq Composite adding 0.54%.

Amid trade optimism, Asian indices rose sharply on Thursday. Nikkei and Hang Seng gained sharply, marginal rise were registered in Taiwan Index, Straits Times and China's Shanghai Comp, while KOSPI index traded marginally lower. On the Singapore Exchange, SGX Nifty traded lower by 22 points too.

Dec 5, 2019 9:46 AM IST

Market erases gains to trade flat

Market opened on a bullish note but turned flat with positive bias amid high intra-day volatility, ahead of RBI credit policy outcome that will be announced today (expected time 11.45am). Market participants expect RBI to cut interest rate by 25 bps, which will be the sixth consecutive rate cut year-to-date.

India VIX, the volatility index was trading lower at 13.2900, registering a decline of 0.03 points or 0.24%

Dec 5, 2019 9:54 AM IST

FII negative on Wednesday, DII positive

Net investment of equity and debt reported by foreign portfolio investors (FPIs) remained bearish with net selling logged at Rs 781.06 crore from Indian equities while domestic institutional investors (DIIs) bought Rs 904.13 crore on Wednesday.

But FPIs turned net buyers to the tune of Rs 6,674 crore in September, Rs 14,657 crore in October and Rs 18,151 crore in November, according to data from the BSE.

During the last three months, Sensex also touched new highs, closing at 38,667 points in October, 40,129 in October and 41,021 in November.

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Dec 5, 2019 10:01 AM IST

Bharti Airtel slips after co's announcement of $3 Billion fundraising

The stock price of Bharti Airtel fell 2.37% intraday to Rs 449.95 on BSE, against the previous closing value of Rs 460.85.

Bharti Airtel Ltd is tapping investors to raise as much as $3 billion.

The company's board has approved sales of $2 billion worth of shares or convertible bonds, and another $1 billion of foreign-currency convertible instruments or non-convertible rupee debt.

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Dec 5, 2019 10:16 AM IST

Sector based indices today

Except metal and pharma, all the other sector-based indices traded in the green, with nearly 2% rise in media and nearly 1% gain in IT stocks.

Dec 5, 2019 10:18 AM IST

Gainers today

The Sensex gains were driven by heavyweight Reliance Industries, followed by automakers like Heromoto Corp and Tata Motors. On the other hand, telecom and IT stocks were trading in the red.

Dec 5, 2019 10:23 AM IST

Rupee trades flat at 71.53 per dollar

The Indian rupee was trading flat at 71.53 in opening deals. The local currency opened at 71.50, then lost ground and touched a low of 71.55.

On Wednesday, the rupee had settled for the day at 71.53 against the US dollar.

Forex traders said, the domestic unit was trading in a narrow range as investors are trading cautiously ahead of the RBI policy decision.

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