Follow Us:
Thursday, December 12, 2019

Share, Commodity, Rupee Market Highlights: Sensex ends 175 points higher, Nifty settles at 12,037 led by banks, IT and metal stocks

Share Market, Sensex, Nifty, BSE, NSE Share Price Highlights: Watch this space for all the latest happenings in the markets.

By: Express Web Desk | New Delhi | Updated: December 4, 2019 5:22:25 pm
Benchmark equity indices settled higher on Wednesday.

Share Market, Sensex, Nifty Highlights: The topline indices on the BSE and National Stock Exchange (NSE) reversed their day’s losses in the final hour of day’s trade and ended in green on Wednesday, a day before the outcome of the Reserve Bank of India’s (RBI’s) monetary policy meeting.

After witnessing a see-saw trade during the day where the indices kept fluctuating from positive to negative territory and back, the S&P BSE Sensex finally settled at 40,850.29, up 174.84 points or 0.43 per cent while the broader Nifty 50 ended the day after reclaiming the 12,000-mark. The 50-share index ended at 12,037.30, up 43.10 points or 0.36 per cent.

All the sectoral indices on the NSE except the Nifty Realty settled higher on Wednesday, the Nifty PSU Bank index was the top gainer of the day, rising by 1.92 per cent led by Oriental Bank of Commerce. The Nifty Metal index, traded in the red for the bulk of the day, staged a sharp recovery and settled 1.51 per cent higher led by NMDC, Vedanta and Tata Steel.

The broader market indices on the BSE also ended in line with the Sensex. The S&P BSE MidCap index rose 0.52 per cent to settle at 14,903.31, while the S&P BSE SmallCap index ended at 13,452.79, up 0.33 per cent.

Rupee

The rupee settled at 71.53 against the US dollar on Wednesday, up from its previous close of 71.69 against the greenback.

Crude oil

Brent crude futures were up 75 cents, or 1.23 per cent, at $61.57 a barrel by 0940 GMT. US West Texas Intermediate (WTI) crude futures were up by 65 cents, or 1.16 per cent, at $56.75.

(with inputs from agencies)

Live Blog

Catch all the LIVE market updates below:

Highlights

    17:18 (IST)04 Dec 2019
    Rupee at close on Wednesday

    The rupee settled at 71.53 against the US dollar on Wednesday, up from its previous close of 71.69 against the greenback.

    16:28 (IST)04 Dec 2019
    Vinod Nair, Head of Research at Geojit Financial Services on Wednesday's equity market movement

    "Market turned positive supported by moderate growth in India Service PMI data for November and optimism on RBI monetary policy tomorrow. RBI is likely to give more focus on economic development as benign oil prices deliver headroom for further monetary action which provide cushion for private spending. The early signs of recovery in service sector provided impetus for IT index to outperform while prevailing positivity on rate sensitive stocks supported a broad based rally."

    16:03 (IST)04 Dec 2019
    Sensex: Gainers and losers of the day

    Tata Motors, Yes Bank, ICICI Bank, Vedanta and Tata Steel lead the gains in S&P BSE Sensex on Wednesday, while Larsen & Toubro, Reliance Industries, Asian Paints lost.

    Here is the list of gainers and losers of the day:

    Source: BSE
    15:41 (IST)04 Dec 2019
    Equity markets at close on Wednesday

    After witnessing a see-saw trade during the day where the indices fluctuated from positive to negative, the S&P BSE Sensex finally settled at 40,850.29, up 174.84 points or 0.43 per cent while the broader Nifty 50 ended the day after reclaiming the 12,000-mark. The 50-share index ended at 12,037.30, up 43.10 points or 0.36 per cent.

    15:27 (IST)04 Dec 2019
    Global market update

    European stocks opened higher on Wednesday, recovering some of the losses made in the previous session when US President Donald Trump surprised world markets by saying a trade deal with China could wait until after the 2020 presidential election.

    US stocks sold off for a third consecutive session overnight, while Asian shares extended losses as hopes for a quick preliminary agreement between the world's two biggest economies were dashed.

    The pan-European equity index STOXX 600, which had slumped 2.2 per cent since the beginning of the month, rose 0.4 per cent but futures markets were still pointing to a slightly negative open on Wall Street.

    (Reuters)

    15:25 (IST)04 Dec 2019
    Global crude oil market update

    Oil gained on Wednesday ahead of meetings this week where OPEC and its allies are expected to extend production curbs to support the market, while industry data showing that US crude stockpiles fell more than expected helped to lift prices.

    Brent crude futures were up 44 cents, or 0.7 per cent, at $61.26 a barrel by 0706 GMT. US West Texas Intermediate (WTI) crude futures were up by 38 cents, or 0.7 per cent, at $56.48.

    (Reuters)

    15:21 (IST)04 Dec 2019
    Crude oil futures gain marginally on domestic cues

    Crude oil prices on Wednesday gained Rs 6 at Rs 4,045 per barrel as speculators created fresh positions amid positive trend in spot market. Analysts said raising of bets by participants kept crude prices higher in futures trade.

    On the Multi Commodity Exchange, crude for delivery in December traded higher by Rs 6, 0.15 per cent, to Rs 4,045 per barrel in 24,192 lots.

    Globally, West Texas Intermediate crude oil was trading 0.55 per cent higher at USD 56.41 per barrel. Meanwhile, Brent crude, the international benchmark, was up 0.64 per cent to USD 61.21 per barrel in New York.

    (PTI)

    15:20 (IST)04 Dec 2019
    Copper futures rise marginally on spot demand

    Copper prices on Wednesday traded up by 5 paise to Rs 428.40 per kg in futures trade on pick-up in spot demand.

    On the Multi Commodity Exchange, copper contracts for December delivery traded higher by 5 paise, or 0.01 per cent, to Rs 428.40 per kg in a business turnover of 7,078 lots. Similarly, the metal for delivery in January edged up by 20 paise, or 0.05 per cent, to Rs 433.10 per kg in 311 lots.

    Analysts attributed the rise in copper prices to raising of bets by participants, driven by a pick-up in demand in spot market.

    (PTI)

    14:51 (IST)04 Dec 2019
    Nickel futures dip on soft demand

    Nickel futures on Wednesday declined by Rs 8.70 to Rs 977.70 per kg due to reducing of positions by speculators amid sluggish demand in spot market.

    On the Multi Commodity Exchange, nickel contracts for December delivery fell by Rs 8.70, or 0.88 per cent, at Rs 977.70 per kg with a business turnover of 2,353 lots. Similarly, nickel contracts for January delivery fell by Rs 6.40, or 0.65 per cent, to Rs 975 per kg in 135 lots.

    Analysts said subdued demand in spot market mainly led to fall in nickel futures prices here.

    (PTI)

    14:34 (IST)04 Dec 2019
    Gold futures gain Rs 83 to Rs 38,410 per 10 gm

    Gold prices on Wednesday rose by Rs 83 to Rs 38,410 per 10 gram in futures trade as speculators widened their bets, tracking a firm trend overseas.

    On the Multi Commodity Exchange, gold contracts for February next year traded higher by Rs 83, or 0.22 per cent, at Rs 38,410 per 10 gram in a business turnover of 18,345 lots. The yellow metal contracts for April next year traded higher by Rs 83, or 0.22 per cent, at Rs 38,467 per 10 gram in a business turnover of 1,849.

    Analysts said the rise in gold prices was mostly on the back of fresh positions built up by participants taking positive cues from global markets.

    Globally, gold prices rose 0.30 per cent to USD 1,488 an ounce in New York.

    (PTI)

    14:32 (IST)04 Dec 2019
    Proposed cap on trade margins will not hurt pharma companies: Fitch

    India’s proposal to cap the trade margins available to drug distributors will not significantly hurt the profitability of pharmaceutical companies, Fitch Ratings said on Wednesday.

    Trade margin is the difference between the price at which manufacturers/importers sell to stockists and the price charged to consumers. Click here to read the report

    14:07 (IST)04 Dec 2019
    Guar gum futures fall on tepid demand

    Guar gum prices on Wednesday fell by Re 1 to Rs 7,234 per five quintal in futures trade as investors cut their bets following weak trend in physical market.

    Marketmen said subdued demand on persistent arrivals from growing belts mainly exerted pressure on guar gum prices here.

    On the National Commodity and Derivatives Exchange, guar gum contracts for December declined by Re 1, or 0.01 per cent, to Rs 7,234 per five quintal with an open interest of 17,730 lots. Guar gum contracts for January delivery eased by Rs 5, or 1.07 per cent, to Rs 7,334 in 50,355 lots.

    (PTI)

    14:06 (IST)04 Dec 2019
    Soybean futures dip on soft demand

    Soybean prices on Wednesday fell by Rs 16 to Rs 4,086 per quintal in futures market as traders cut down their positions amid weak cues from physical markets.

    On the National Commodity and Derivatives Exchange, soybean to be delivered in December contracts moved down by Rs 16, or 0.39 per cent, to Rs 4,086 per quintal with an open interest of 56,315 lots. Soybean for delivery in January contracts also eased by Rs 22, or 0.55 per cent, to Rs 4,112 per quintal with an open interest of 1,48,090 lots.

    The fall in soybean prices in futures trade was mostly due to reduction of exposure by participants, marketmen said.

    (PTI)

    14:03 (IST)04 Dec 2019
    Cabinet approves exchange traded fund for bonds

    After exchange traded fund for equities, the Union Cabinet on Wednesday approved the launch of an exchange traded fund for bonds.

    The fund will provide additional money for state-owned firms and other government organisations, Finance Minister Nirmala Sitharaman said.

    Bharat Bond Exchange Traded Fund would be the first corporate bond ETF in the country. Click here to read the report

    13:11 (IST)04 Dec 2019
    Tata Motors to hike passenger vehicle prices from January

    Tata Motors on Wednesday said it will increase prices of its passenger vehicles from January, primarily in order to offset impact of upgrading its portfolio to conform to BSVI emission norms.

    The company currently sells products ranging from hatchback Tiago to SUV Harrier, priced between Rs 4.39 lakh and Rs 16.85 lakh (ex-showroom Delhi). Click here to read the report

    12:58 (IST)04 Dec 2019
    Telcos shares rise on proposal to fix floor price for data tariffs

    Telecom companies’ shares on Wednesday zoomed as much as 11 per cent buoyed by the proposal before regulator Trai regarding fixing a minimum price for mobile internet tariff.

    Vodafone Idea shares spurted 11.21 per cent to trade at Rs 7.84 apiece in early deals on the BSE. On the NSE, the stock soared 11.35 per cent to Rs 7.85 per unit.

    Bharti Airtel also saw its shares rising though marginally at 0.23 per cent to trade at Rs 460 a unit on the BSE. The telco’s shares on the NSE were trading at Rs 459.35 apiece, up 0.05 per cent. Click here to read the report

    12:41 (IST)04 Dec 2019
    Petrol and Diesel prices on Wednesday

    Delhi:

    Petrol- 74.91 per litre
    Diesel- 65.78 per litre

    Kolkata:

    Petrol- 77.61 per litre
    Diesel- 68.19 per litre

    Mumbai:

    Petrol- 80.59 per litre
    Diesel- 69.00 per litre

    Chennai:

    Petrol- 77.91 per litre
    Diesel- 69.53 per litre

    Bengaluru:

    Petrol- 77.50 per litre
    Diesel- 68.02 per litre

    Source: IOCL

    12:29 (IST)04 Dec 2019
    State-run banks disburse Rs 4.91L croe in Oct-Nov: FinMin

    The government on Tuesday said 2.86 per cent of Rs 6.04 lakh crore worth of loans sanctioned under the Pradhan Mantri Mudra Yojana (PMMY) have turned into non performing assets (NPAs).

    “Scheduled Commercial Banks (SCBs) and Regional Rural Banks (RRBs) have reported that as of March 2019, against a total amount of Rs 6.04 lakh crore disbursed by them under PMMY since inception of the scheme, an amount of Rs 17,251.52 crore had turned into non-performing assets (NPAs), which is 2.86 per cent of the total disbursed amount,” Minister of State for Finance Anurag Thakur said in a written reply to a question in the Rajya Sabha. Click here to read the report

    11:47 (IST)04 Dec 2019
    Services output expands for first time in three months: PMI

    India’s services sector activity returned to growth after two months of decline in November, driven by new business orders, faster job creation and strengthening business confidence, a monthly survey showed on Wednesday but noted that there were signs of “fragility”.

    The IHS Markit India Services Business Activity Index improved to 52.7 in November from 49.2 in October. Click here to read the report

    11:34 (IST)04 Dec 2019
    S&P reaffirms India’s rating, retains outlook at ‘stable’

    Credit rating agency Standard & Poor’s has reaffirmed India’s sovereign rating at ‘BBB-’ with stable outlook, Economic Affairs Secretary Atanu Chakraborty said on Tuesday.

    “They (S&P) have stated that India’s economy continues to achieve impressive long-term growth rates despite a recent deceleration. S&P expects the Indian economy to continue to outperform its peers and that the growth will remain strong over the next 2 years,” tweeted Chakraborty.

    In September 2014, S&P had assigned India the lowest investment grade rating with stable outlook. Prior to that, it had assigned the same rating to India with a negative outlook. Click here to read the story

    11:23 (IST)04 Dec 2019
    New MNP rules: Trai fixes 3 working days to process port-out requests in same circle, 5 days for inter-circle

    Telecom regulator Trai on Tuesday revamped mobile number portability (MNP) rules, making the entire process faster and simpler, and prescribed three working days timeline for port out requests within a service area.

    Similarly, timeline of five working days has been prescribed for requests for port out from one circle to another.

    The new rules will come into effect from December 16. Click here to read the report

    11:00 (IST)04 Dec 2019
    CSB Bank makes a strong stock market debut, jump 41 per cent

    The scrip of CSB Bank made a strong debut at the bourses on Wednesday, listing with a premium of 41 per cent, against its issue price of Rs 195.

    The scrip debuted at Rs 275, up 41 per cent at the BSE. Later, it touched a high of Rs 304, reflecting a sharp jump of 55.89 per cent. At the NSE, it got listed at Rs 275.

    The company’s market valuation stood at Rs 5,157.71 crore during early trade. Click here to read the report

    10:47 (IST)04 Dec 2019
    Govt halves stock holding limit for onions

    Taking further steps to augment the availability of onions and check its hoarding, the Ministry of Consumer Affairs, Food and Public Distribution on Tuesday halved the stock holding limit for retailers to 5 tons and for wholesalers to 25 tons.

    The move comes at time when the onion prices are skyrocketing, with the retail price crossing Rs 100 per kg in many cities. Click here to read

    10:38 (IST)04 Dec 2019
    Telcos propose Trai to regulate data tariff by fixing minimum price

    Despite the three telecom operators having just announced tariff hikes ranging between 15-50 per cent, industry association Cellular Operators Association of India (COAI) on Tuesday wrote to the Telecom Regulatory Authority of India (Trai) to set a floor price for data services. It has said that its members, Bharti Airtel, Vodafone Idea, and Reliance Jio, are in agreement with this demand.

    In its communication to Trai chairman RS Sharma, COAI has written that in today’s fierce competition voluntary tariff hike by operators will not suffice and a regulation of tariff is required for which floor price for data services is required. Click here to read the report

    10:35 (IST)04 Dec 2019
    Letter sent to states: GST Council rings first alarm bells on revenue

    In its first admission of strain on tax collections and the Centre’s inability to compensate states for loss of revenue, the GST Council has written to states telling them that the GST and compensation cess collections in the last few months has become a “matter of concern” and that the compensation requirements are “unlikely to be met”.

    The GST Council is a Constitutional body chaired by the Union Finance Minister and comprises the Minister of State for Finance/ Revenue and finance ministers of all states. It makes recommendations on all important issues related to the Goods and Services Tax. Click here to read the report

    10:16 (IST)04 Dec 2019
    Market check

    Here is how the key equity indices in the BSE are performing. The S&P BSE Sensex is trading over 100 points higher:

    Source: BSE
    09:55 (IST)04 Dec 2019
    Rupee slips 12 paise to 71.78 against US dollar in early trade

    The Indian rupee opened on a weak note and fell 12 paise to 71.78 against the US dollar in early trade on Wednesday, amid weak opening in domestic equities and sustained foreign fund outflows.

    Forex traders said, the domestic unit is trading in a narrow range ahead of the RBI monetary policy decision on Thursday.

    At the interbank foreign exchange, the rupee opened weak at 71.76 then fell to 71.78 against the US dollar, showing a decline of 12 paise over its previous closing. The Indian rupee on Tuesday had closed at 71.66 against the US dollar.

    (PTI)

    09:47 (IST)04 Dec 2019
    Trump says China trade deal may have to wait amid sticking points in talks

    President Donald Trump said on Tuesday a trade deal with China might have to wait until after the US presidential election in November 2020, denting hopes that the two largest economies would soon reach an initial deal to ease their damaging trade war. “I have no deadline, no,” Trump told reporters in London, where he was due to attend a meeting of NATO leaders.

    “In some ways, I like the idea of waiting until after the election for the China deal. But they want to make a deal now, and we’ll see whether or not the deal’s going to be right; it’s got to be right.”

    Trump’s remarks sent stock prices tumbling and triggered a rush into safe assets such as US Treasury debt. MSCI’s measure of global stock performance slid 0.9 per cent, while the US benchmark S&P 500 Index dropped 1.22 per cent, its largest fall in nearly two months. Click here to read the story

    09:38 (IST)04 Dec 2019
    Nifty Metal index slips the most in early trade

    The Nifty Metal index on the National Stock Exchange (NSE) is down around 1.5 per cent in the early trade on Wednesday weighed by weakness in the shares of Tata Steel and Vedanta:

    Source: NSE
    09:34 (IST)04 Dec 2019
    Gainers and losers on the S&P BSE Sensex in the early trade

    Yes Bank, L&T, Tata Steel and Vedanta were among the top losers in the S&P BSE Sensex in early trade on Wednesday, while Tata Motors and TCS were the top gainers:

    Source: BSE
    09:25 (IST)04 Dec 2019
    Equity markets at open on Wednesday

    At 9:18 am, the S&P BSE Sensex was trading at 40,571.63, down 103.82 points or 0.26 per cent while the broader Nifty 50 was at 11,958.70, down 35.50 points or 0.30 per cent.

    09:18 (IST)04 Dec 2019
    Global crude oil market update

    Oil prices rose on Wednesday ahead of a meeting of OPEC and its allies to discuss whether to extend production curbs to support the market, while industry data showing that US crude stockpiles fell more than expected helped to lift prices.

    Brent crude futures were up 35 cents, or 0.6 per cent, at $61.17 a barrel by 0246 GMT. US West Texas Intermediate (WTI) crude futures were up by 31 cents, or 0.6 per cent, at $56.41.

    (Reuters)

    09:16 (IST)04 Dec 2019
    Global market update

    Asian shares extended their losses on Wednesday after US President Donald Trump said a trade deal with China might have to wait until after the 2020 presidential election, dashing hopes for a quick preliminary agreement.

    Fresh US tariffs on Argentina and Brazil, as well as threatened duties on French goods, also darkened the mood, as a trade war that appeared to be winding down a week ago now looks like ramping up.

    MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.9 per cent. Japan's Nikkei dropped 1.2 per cent, matched by falls in Hong Kong and Korea, where stock markets hit their lowest since October.
    Shanghai blue chips fell 0.2 per cent and Australia's S&P/ASX200 tumbled 1.7 per cent, having shed almost 4 per cent since closing on Monday.

    (Reuters)

    On Tuesday, the S&P BSE Sensex had fallen 126.72 points or 0.31 per cent to end at 40,675.45. The broader Nifty 50 index, on the other hand, slipped below the 12,000-mark to settle at 11,994.20, down 54.00 points or 0.45 per cent.

    Among the sectoral indices on NSE, the Nifty PSU Bank index was the worst performer of the day as it slipped 2.86 per cent weighed by an over 5 per cent fall in the share prices of Bank of India and Union Bank of India. The Nifty Metal index was the second biggest loser on Tuesday, falling by 2.60 per cent dragged by Jindal Steel & Power and Tata Steel.