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

BusinessToday.In | December 05,2019 15:48 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.

 

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KEY UPDATES

  • 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 05, 2019 15:46 (IST)

    Closing Bell

    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.

    • 15:46 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.

  • Dec 05, 2019 15:25 (IST)

    Market turns volatile again

    India VIX, the volatility index has increased 7.13% to 14.27, indicating higher volatility in the market on Thursday

    • 15:25 IST: India VIX, the volatility index has increased 7.13% to 14.27, indicating higher volatility in the market on Thursday

  • Dec 05, 2019 15:23 (IST)

    Market Update

    Share Market Today: Market failed to hold recovery and fell to bearish grounds 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 traded 80 points lower at 40,761 and NSE Nifty declined 31 points to 12,011. 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.

    • 15:23 IST: Share Market Today: Market failed to hold recovery and fell to bearish grounds 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 traded 80 points lower at 40,761 and NSE Nifty declined 31 points to 12,011. 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.

  • Dec 05, 2019 14:01 (IST)

    Expert view on RBI's policy outcome




    Commenting on RBI's stance, Vinod Nair, head of research at Geojit Financial Services, said, "It is a well-thought unanimous decision of RBI to give ample time for the transmission of five consecutive rate cuts undertaken since January 2019 and get better clarity on the inflation trajectory. With the slowdown in India getting more severe than expected and RBI cutting real GDP forecast to 5% from earlier 6.1% for FY20, we can expect more rate cuts depending on the evolving macro-economic data in the upcoming MPC meetings."

    He added,"We don’t expect this decision to completely change the trend of the market rather than consolidation in rate sensitive stocks in the short-term."

    • 14:01 IST:


    Commenting on RBI's stance, Vinod Nair, head of research at Geojit Financial Services, said, "It is a well-thought unanimous decision of RBI to give ample time for the transmission of five consecutive rate cuts undertaken since January 2019 and get better clarity on the inflation trajectory. With the slowdown in India getting more severe than expected and RBI cutting real GDP forecast to 5% from earlier 6.1% for FY20, we can expect more rate cuts depending on the evolving macro-economic data in the upcoming MPC meetings."

    He added,"We don’t expect this decision to completely change the trend of the market rather than consolidation in rate sensitive stocks in the short-term."

  • Dec 05, 2019 13:36 (IST)

    Market Update

    Share Market Today: Market recovered from bearish grounds to trade higher 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 traded 80 points higher at 40,927 and NSE Nifty rose 13 points to 12,056. On the sectoral front, gains in FMCG, IT, media and realty stocks were capped by losses in banking, auto, pharma and metal scrips.

    • 13:36 IST: Share Market Today: Market recovered from bearish grounds to trade higher 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 traded 80 points higher at 40,927 and NSE Nifty rose 13 points to 12,056. On the sectoral front, gains in FMCG, IT, media and realty stocks were capped by losses in banking, auto, pharma and metal scrips.

  • Dec 05, 2019 13:23 (IST)

    Canara Bank declines 2.81%

    Shares of Canara Bank declined 2.81% to the intraday low of Rs 217.65 after the lender said it has allotted 27.69 crore equity shares of the face value of Rs 10 each at an issue price of Rs 237.23 (including a premium of Rs 227.23) per share to Government of India, Promoter of the Bank, on a preferential basis.

    • 13:23 IST: Shares of Canara Bank declined 2.81% to the intraday low of Rs 217.65 after the lender said it has allotted 27.69 crore equity shares of the face value of Rs 10 each at an issue price of Rs 237.23 (including a premium of Rs 227.23) per share to Government of India, Promoter of the Bank, on a preferential basis.

  • Dec 05, 2019 13:17 (IST)

    HUDCO slips 8%

    The share price of Housing & Urban Development Corporation Ltd fell 8.66% to the intraday low of Rs 36.9 on BSE today. The company in its latest filing announced that two borrowing agencies of the company defaulted in repayment of their dues amounting to Rs 8,746.06 lakh against the principal amount Rs 86,940.75 lakh and have been classified as Non Performing Assest (NPAs) with an impact of 1.14% on Gross NPA

    • 13:17 IST: The share price of Housing & Urban Development Corporation Ltd fell 8.66% to the intraday low of Rs 36.9 on BSE today. The company in its latest filing announced that two borrowing agencies of the company defaulted in repayment of their dues amounting to Rs 8,746.06 lakh against the principal amount Rs 86,940.75 lakh and have been classified as Non Performing Assest (NPAs) with an impact of 1.14% on Gross NPA

  • Dec 05, 2019 13:13 (IST)

    Force Motors rises 4% on healthy sales

    Force Motors total sales in November month come in 42% higher at 2,112 units (1,936 units of domestic sales +176 units of export sales) as against 1,489 units in the same month reported last year. Following the announcement, the share price of Force Motors rose 4.05% to touch an intraday high of Rs 1,056 on the BSE today.

     

    • 13:13 IST: Force Motors total sales in November month come in 42% higher at 2,112 units (1,936 units of domestic sales +176 units of export sales) as against 1,489 units in the same month reported last year. Following the announcement, the share price of Force Motors rose 4.05% to touch an intraday high of Rs 1,056 on the BSE today.

     

  • Dec 05, 2019 12:34 (IST)

    HDFC AMC declines nearly 5%


    HDFC AMC shares declined nearly 5% in today's trade after the company said it plans to offload additionally 3,850,000 equity shares, representing 1.81% of the total issued and paid-up equity share capital, in order to exercise the 'Oversubscription Option'.

    HDFC AMC shares opened with a loss of 4.51% today and later fell 4.7% to the intraday low of Rs 3,172.5 on the BSE.

    The two-day offer for sale issue of HDFC AMC QIP has opened for subscription for retail invetsors opened today at Rs 3,140 a share (7% discount of QIP) after the non-retail segment was subscribed by 1.72 times. Around 25% of the shares of total issue size will be reserved for mutual funds and 10% for retail investors.

    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.

     

    • 12:34 IST:
    HDFC AMC shares declined nearly 5% in today's trade after the company said it plans to offload additionally 3,850,000 equity shares, representing 1.81% of the total issued and paid-up equity share capital, in order to exercise the 'Oversubscription Option'.

    HDFC AMC shares opened with a loss of 4.51% today and later fell 4.7% to the intraday low of Rs 3,172.5 on the BSE.

    The two-day offer for sale issue of HDFC AMC QIP has opened for subscription for retail invetsors opened today at Rs 3,140 a share (7% discount of QIP) after the non-retail segment was subscribed by 1.72 times. Around 25% of the shares of total issue size will be reserved for mutual funds and 10% for retail investors.

    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.

     

  • Dec 05, 2019 12:27 (IST)

    Ramco Systems wins 5-year orders from Middle East MNC


    Shares of Ramco Systems were trading higher by 3% apiece after the company said it won a 5-year order from Middle East MNC. Ramco Sytems share price opened with a gain of 2.78% today. Later the shares gained 3.4% to the intraday high of Rs 150.4 on BSE.

    • 12:27 IST:
    Shares of Ramco Systems were trading higher by 3% apiece after the company said it won a 5-year order from Middle East MNC. Ramco Sytems share price opened with a gain of 2.78% today. Later the shares gained 3.4% to the intraday high of Rs 150.4 on BSE.

  • Dec 05, 2019 12:20 (IST)

    Expert View: RBI policy outcome

    Commenting on the RBI policy outcome, Jimeet Modi, Founder & CEO of SAMCO Securities & StockNote said,"RBI has finally thrown the ball back in Government’s court to revive the economic engine which has further deteriorated since the last meet. Transmission of interest rates have not happened yet which could be one of the reasons RBI waited to cut rates and nudged the Government and banks to take efforts from their end."

    He added,"Additionally, slightly higher inflationary tendencies might have also led to the pause in rate cut. But, this is a negative for the markets as a rate cut was required to boost risk taking appetite in the economy." 

     

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    12:20 IST: Commenting on the RBI policy outcome, Jimeet Modi, Founder & CEO of SAMCO Securities & StockNote said,"RBI has finally thrown the ball back in Government’s court to revive the economic engine which has further deteriorated since the last meet. Transmission of interest rates have not happened yet which could be one of the reasons RBI waited to cut rates and nudged the Government and banks to take efforts from their end."

    He added,"Additionally, slightly higher inflationary tendencies might have also led to the pause in rate cut. But, this is a negative for the markets as a rate cut was required to boost risk taking appetite in the economy." 

     

  • Dec 05, 2019 12:16 (IST)

    Rupee slips 8 paise to 71.61 per dollar

    Rupee slips 8 paise to 71.61 against USD after RBI leaves policy rate unchanged

    • 12:16 IST: Rupee slips 8 paise to 71.61 against USD after RBI leaves policy rate unchanged

  • Dec 05, 2019 12:07 (IST)

    MPC: There is monetary policy space for future action

    The MPC board said it recognises that there is monetary policy space for future action. However, given the evolving growth-inflation dynamics, the MPC felt it appropriate to take a pause at this juncture. Accordingly, the MPC decided to keep the policy repo rate unchanged and continue with the accommodative stance as long as it is necessary to revive growth, while ensuring that inflation remains within the target.


    After the introduction of the external benchmark system, most banks have linked their lending rates to the policy repo rate of the Reserve Bank. The median term deposit rate has declined by 47 bps during February-November 2019. The weighted average term deposit rate declined by 9 bps in October as against a decline of just 7 bps in eight months during February-September. This augurs well for transmission to lending rates, going forward. The inflation print for October, however, was much higher than expected.


    • 12:07 IST: The MPC board said it recognises that there is monetary policy space for future action. However, given the evolving growth-inflation dynamics, the MPC felt it appropriate to take a pause at this juncture. Accordingly, the MPC decided to keep the policy repo rate unchanged and continue with the accommodative stance as long as it is necessary to revive growth, while ensuring that inflation remains within the target.


    After the introduction of the external benchmark system, most banks have linked their lending rates to the policy repo rate of the Reserve Bank. The median term deposit rate has declined by 47 bps during February-November 2019. The weighted average term deposit rate declined by 9 bps in October as against a decline of just 7 bps in eight months during February-September. This augurs well for transmission to lending rates, going forward. The inflation print for October, however, was much higher than expected.


  • Dec 05, 2019 12:01 (IST)

    Market Update

    Share Market Today: Domestic market fell sharply from positive to negative grounds on Thursday, after RBI announced it has kept the repo rate unchanged at 5.15% and maintained policy stance 'accommodative' at its MPC policy meet.

    RBI Governor Shaktikanta Das had earlier announced in the last rate cut that MPC will keep its stance accommodative as long as it is necessary to revive growth.

    Following the announcement, BSE Sensex fell to trade 80 points lower and NSE declined to12,001 mark. Currently, both the indices trade flat with a negative bias. Except for IT and media, all other sector-based indices turned red, with over 1% fall in metal stocks and nearly 1% decline in PSU banking stocks.

    • 12:01 IST: Share Market Today: Domestic market fell sharply from positive to negative grounds on Thursday, after RBI announced it has kept the repo rate unchanged at 5.15% and maintained policy stance 'accommodative' at its MPC policy meet.

    RBI Governor Shaktikanta Das had earlier announced in the last rate cut that MPC will keep its stance accommodative as long as it is necessary to revive growth.

    Following the announcement, BSE Sensex fell to trade 80 points lower and NSE declined to12,001 mark. Currently, both the indices trade flat with a negative bias. Except for IT and media, all other sector-based indices turned red, with over 1% fall in metal stocks and nearly 1% decline in PSU banking stocks.

  • Dec 05, 2019 11:51 (IST)

    Repo rate unchanged




    RBI has kept repo rate maintained/ unchanged at 5.15%. RBI Governor Shaktikanta Das had announced in its last cut that MPC will keep its stance accommodative as long as it is necessary to revive growth. MPC has maintained policy stance at 'accommodative'.

    FY20 real GDP growth target has been lowered to 5% from 6.1%.

    • 11:51 IST:


    RBI has kept repo rate maintained/ unchanged at 5.15%. RBI Governor Shaktikanta Das had announced in its last cut that MPC will keep its stance accommodative as long as it is necessary to revive growth. MPC has maintained policy stance at 'accommodative'.

    FY20 real GDP growth target has been lowered to 5% from 6.1%.

  • Dec 05, 2019 11:44 (IST)

    Market awaits 25 bps rate cut by RBI

    RBI Governor Shaktikanta Das headed MPC will announce 5 the bi-monthly monetary policy today at 11.45AM.

    After the last MPC meeting on October 4th – governor announced that MPC will keep its stance accommodative as long as it is necessary to revive growth.

    The street is expecting a 25 bps rate cut, especially after Q2FY20 GDP print of 4.5% was a 26 quarter low. Although the decision will not be easy, as inflation is rearing its ugly head.

    With this expected 25 bps rate cut, there would be a cumulative 160bps rate reduction this calendar year.

    The policy rate would come down to 4.9%, this would be the first time in the decade that the repo is below 5%.

    • 11:44 IST: RBI Governor Shaktikanta Das headed MPC will announce 5 the bi-monthly monetary policy today at 11.45AM.

    After the last MPC meeting on October 4th – governor announced that MPC will keep its stance accommodative as long as it is necessary to revive growth.

    The street is expecting a 25 bps rate cut, especially after Q2FY20 GDP print of 4.5% was a 26 quarter low. Although the decision will not be easy, as inflation is rearing its ugly head.

    With this expected 25 bps rate cut, there would be a cumulative 160bps rate reduction this calendar year.

    The policy rate would come down to 4.9%, this would be the first time in the decade that the repo is below 5%.

  • Dec 05, 2019 11:18 (IST)

    Gainers and Losers

    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.

     

    • 11:18 IST: 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 05, 2019 11:11 (IST)

    Dr Reddy announces the launch of Bortezomib for Injection

    The share price of Dr Reddy Laboratories rose 3.14% in the early trade to the intraday high of Rs 2,969 on the BSE after the pahrma major announced the launch of Bortezomib for Injection 3.5 mg/vial  in the US market. The drug is approved by the USFDA. The share price trades 4.66% away from 52 week high of Rs 2,990 on the BSE.

    • 11:11 IST: The share price of Dr Reddy Laboratories rose 3.14% in the early trade to the intraday high of Rs 2,969 on the BSE after the pahrma major announced the launch of Bortezomib for Injection 3.5 mg/vial  in the US market. The drug is approved by the USFDA. The share price trades 4.66% away from 52 week high of Rs 2,990 on the BSE.

  • Dec 05, 2019 10:44 (IST)

    Global Market Update

     Asian markets were slightly higher on hopes that the US and China might be able to sign a preliminary trade deal, though uncertainties still remained intact due to almost daily shifts in prospects for early talks.

     

    • 10:44 IST:  Asian markets were slightly higher on hopes that the US and China might be able to sign a preliminary trade deal, though uncertainties still remained intact due to almost daily shifts in prospects for early talks.

     

  • Dec 05, 2019 10:23 (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.

    Read more

    • 10:23 IST: 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.

    Read more

  • Dec 05, 2019 10:18 (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.

    • 10:18 IST: 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 05, 2019 10:16 (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.

    • 10:16 IST: 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 05, 2019 10:01 (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.

    Read more
     

    • 10:01 IST:  

    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.

    Read more
     

  • Dec 05, 2019 09:54 (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.

    Read more

    • 09:54 IST: 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.

    Read more

  • Dec 05, 2019 09:46 (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% 

     

    • 09:46 IST: 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 05, 2019 09:30 (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.

     

    • 09:30 IST: 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 05, 2019 09:22 (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

     

    • 09:22 IST: 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 05, 2019 09:19 (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.

    Read more
     

    • 09:19 IST: 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.

    Read more
     

  • Dec 05, 2019 09:18 (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.

    • 09:18 IST: 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 05, 2019 09:13 (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

     

    • 09:13 IST: 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 05, 2019 09:11 (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.

    • 09:11 IST: 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 05, 2019 09:09 (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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    • 09:09 IST: 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.

    Read more

  • Dec 05, 2019 09:07 (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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    • 09:07 IST: 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.

    Read more

  • Dec 05, 2019 09:05 (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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    • 09:05 IST:

    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.

    Read more

  • Dec 05, 2019 09:04 (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).

    Read more
     

    • 09:04 IST:

    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).

    Read more
     

  • Dec 05, 2019 09:02 (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.

    Read more
     

    • 09:02 IST: 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.

    Read more
     

  • Dec 05, 2019 09:01 (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.

    Read more

    • 09:01 IST: 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.

    Read more

  • Dec 05, 2019 08:58 (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.

     

    • 08:58 IST:
    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 05, 2019 08:54 (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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    • 08:54 IST:  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.

    Read more

  • Dec 05, 2019 08:53 (IST)

    Closing on Wednesday

    On Wednesday, domestic equity indices closed on a bullish note, tracking gains in Asian markets following reports that China and America were moving closer to a trade deal. BSE Sensex closed 174 points higher at 40,850 and NSE Nifty ended at 12,037, rising 43 points against its previous close.

    All the sector-based indices except realty turned green by the closing hour, with nearly 2% rise in PSU banks, followed 1.5% advance in IT, metal and banking indices.

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    • 08:53 IST: On Wednesday, domestic equity indices closed on a bullish note, tracking gains in Asian markets following reports that China and America were moving closer to a trade deal. BSE Sensex closed 174 points higher at 40,850 and NSE Nifty ended at 12,037, rising 43 points against its previous close.

    All the sector-based indices except realty turned green by the closing hour, with nearly 2% rise in PSU banks, followed 1.5% advance in IT, metal and banking indices.

    Read more

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