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Thursday, February 27, 2020

Market Highlights: Indices snap our of two-day losing streak as Sensex climbs 193 points; Nifty settles at 12,053

Share Market LIVE, Stock Market Highlights: Everything that happened in equity, commodity and money markets on Tuesday.

By: Express Web Desk | New Delhi | Updated: January 7, 2020 6:10:20 pm
The benchmark equity indices snapped their two-day losing streak and ended 0.5 per cent higher on Tuesday. (Representational image)

Share/Stock Market Highlights: The topline equity indices on the BSE and National Stock Exchange (NSE) snapped out of their two-day losing streak and climbed around 0.5 per cent on Tuesday taking cues from the Asian markets.

The S&P BSE Sensex rose 192.84 points or 0.47 per cent to settle at 40,869.47 on Tuesday. During the intraday trade, the 30-share BSE benchmark had surged as much as 553.51 to 41,230.14 but trimmed the bulk of its gains later.

The broader Nifty 50 ended at 12,052.95, up 59.90 points or 0.50 per cent. The Nifty too had risen as much as 159.10 points to 12,152.15 during the day’s trade.

Among NSE sectoral indices, the Nifty Realty index was the biggest gainer of the day, settling 1.93 per cent high led by Godrej Properties and Sunteck Realty. It was followed by the Nifty Media index which climbed 1.04 per cent led by Zee Media Corporation, Zee Entertainment Enterprises and TV18 Broadcast.

(with inputs from agencies)

Live Blog

Watch this space for all the LIVE market updates including stocks, shares, rupee, crude oil, petrol diesel, gold and silver prices:

Highlights

    16:13 (IST)07 Jan 2020
    MARKET QUOTE | Vinod Nair, Head of Research, Geojit Financial Services on Tuesday's market movement

    'Iran is under pressure from world leaders not to escalate the issue further. Due to ease in tension in the Middle East, market recovered from yesterday’s losses. Oil prices cooled as Iran a major crude exporter stayed away from retaliation. The first advance estimates for FY20 GDP by MoS is expected at 5% which is already factored by the market, not impacting further.'

    16:09 (IST)07 Jan 2020
    BSE Sensex: Gainers and losers of the day

    Gains in the S&P BSE Sensex on Tuesday were led by Ultratech Cement, HDFC Bank, Reliance Industries (RIL), Sun Pharmaceutical Industries, NTPC and Asian Paints. On the other hand, Infosys, ICICI Bank, Bharti Airtel, Nestle India and Hero MotoCorp were among the top losers.

    Source: BSE
    15:36 (IST)07 Jan 2020
    Equity market at close

    The S&P BSE Sensex rose 192.84 points or 0.47 per cent to settle at 40,869.47, while the broader Nifty 50 ended at 12,052.95, up 59.90 points or 0.50 per cent.

    15:21 (IST)07 Jan 2020
    Soybean futures gain on strong demand

    Soybean prices on Tuesday rose by Rs 38 to Rs 4,222 per quintal in futures market as traders created fresh positions on strong spot demand.

    On the National Commodity and Derivatives Exchange, soybean for January delivery rose Rs 38, or 0.91 per cent, to Rs 4,222 per quintal with an open interest of 58,230 lots.

    Soybean for February delivery also rose by Rs 36, or 0.86 per cent, to Rs 4,244 per quintal with an open interest of 1,92,630 lots.

    Market players said raising of fresh positions by speculators on the back of higher demand mainly led to the rise in soybean prices.

    (PTI)

    15:20 (IST)07 Jan 2020
    Mustard seed futures rise on restricted supplies

    Mustard seed prices on Tuesday rose by Rs 39 to Rs 4,515 per quintal in futures trade as speculators raised their bets amid limited supplies.

    Marketmen said restricted arrivals from growing belts and demand from oil mills in spot market mainly lifted mustard seed prices here.

    On the National Commodity and Derivatives Exchange, mustard seed for January delivery rose by Rs 39, or 0.87 per cent, to Rs 4,515 per quintal with an open interest of 11,450 lots. Similarly, mustard seed for February delivery gained Rs 16, or 0.36 per cent, to Rs 4,494 per quintal with an open interest of 10,760 lots.

    (PTI)

    14:53 (IST)07 Jan 2020
    Coffee exports in 2019 up marginally at 3.50 lakh tonne

    Coffee exports from India rose marginally to 3.50 lakh tonne in 2019 as compared to 3.48 lakh tonne in the previous year, according to the Coffee Board.

    India is the third-largest producer and exporter of coffee in Asia.

    Italy, Germany and Russia were the major export destinations for Indian coffee last year. India ships both Robusta and Arabica varieties, besides instant coffee. Click here to read the report

    14:36 (IST)07 Jan 2020
    Guar gum futures rise on firm demand

    Guar gum prices on Tuesday rose by Rs 54 to Rs 7,360 per five quintal in futures trade as investors increased their holdings on spot demand.

    Analysts said raising of bets by traders, following a firm tend in physical market, led to the rise in guar gum prices.

    On the National Commodity and Derivatives Exchange, guar gum contracts for January delivery gained Rs 54, or 0.74 per cent, to Rs 7,360 per five quintal with an open interest of 14,405 lots. Similarly, guar gum for February delivery surged by Rs 63, or 0.85 per cent, to Rs 7,468 per five quintal with an open interest of 53,310 lots.

    (PTI)

    14:33 (IST)07 Jan 2020
    Coriander futures up on strong demand

    Coriander prices on Tuesday climbed Rs 93 to Rs 6,312 per quintal in futures trade on strong domestic demand and restricted supplies from producing belts.

    On the National Commodity and Derivatives Exchange, coriander for January delivery shot up by Rs 93, or 1.45 per cent, to Rs 6,312 per quintal with an open interest of 7,210 lots.

    A firm trend in spot market and restricted supplies from producing regions pushed up coriander prices here, market analysts said.

    (PTI)

    14:32 (IST)07 Jan 2020
    Cottonseed oil cake futures up on spot demand

    Cottonseed oil cake prices on Tuesday edged up by Rs 13 to Rs 2,111 per quintal in futures trade due to accumulation of positions amid upbeat trend in spot market.

    On the National Commodity and Derivatives Exchange, cottonseed oil cake contracts for January delivery rose by Rs 13, or 0.62 per cent, to Rs 2,111 per quintal in 39,890 lots. Cottonseed oil cake contracts for February gained Rs 13, or 0.61 per cent, to Rs 2,134 per quintal in 63,360 lots.

    Marketmen said raising of positions by participants amid rising demand from cattle-feed makers mainly influenced prices here.

    (PTI)

    14:29 (IST)07 Jan 2020
    Lead futures slide on tepid demand

    Lead prices on Tuesday drifted lower by 2.63 per cent to Rs 148.05 per kg in futures trade as speculators cut bets on low demand.

    On the Multi Commodity Exchange, lead for delivery in May fell by Rs 4, or 2.63 per cent, to Rs 148.05 per kg in one lot.

    Analysts said off-loading of positions by participants owing to slackened demand from consuming industries in physical market mainly exerted pressure on lead prices here.

    (PTI)

    14:28 (IST)07 Jan 2020
    Copper futures climb on positive cues

    Copper prices on Tuesday traded up by 0.22 per cent at Rs 447.30 per kg in futures market on the back of pick-up in spot demand.

    On the Multi Commodity Exchange, copper contracts for delivery in January traded higher by Re 1, or 0.22 per cent, at Rs 447.30 per kg in a business turnover of 2,504 lots. Similarly, the metal for delivery in February edged up by Rs 1.35, or 0.30 per cent, to Rs 448.30 per kg in 107 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)

    14:21 (IST)07 Jan 2020
    Nickel futures rise on spot demand

    Nickel prices on Tuesday edged up by Rs 5.30 to Rs 1,029 per kg in futures trade as speculators built positions owing to rising demand from alloy-makers in domestic market.

    On the Multi Commodity Exchange, nickel contracts for January delivery gained Rs 5.30, or 0.52 per cent, to Rs 1,029 per kg in a business turnover of 4,289 lots. The metal for delivery in February gained Rs 5.90, or 0.58 per cent, to Rs 1,025.10 per kg in a business turnover of 95 lots.

    Rising demand in spot market from alloy-makers mainly supported price rise in nickel futures, analysts said.

    (PTI)

    14:20 (IST)07 Jan 2020
    Silver futures rise Rs 58 to Rs 47,604 per kg

    Silver futures on Tuesday traded higher by Rs 58 to Rs 47,604 per kg after speculators raised bets, driven by a firm trend overseas.

    Silver contracts for March delivery rose Rs 58, or 0.12 per cent, to Rs 47,604 per kg in a business turnover of 6,996 lots on the Multi Commodity Exchange. The white metal to be delivered in May also jumped Rs 55, or 0.11 per cent, to Rs 48,130 per kg in 51 lots.

    Analysts said widening of positions by traders in sync with a firm trend overseas mainly influenced silver prices here.

    In the international market, silver traded 0.31 per cent higher at USD 18.24 an ounce in New York.

    (PTI)

    13:14 (IST)07 Jan 2020
    Gold futures gain on spot demand

    Gold prices on Tuesday gained Rs 18 to Rs 40,490 per 10 gram in futures trade as investors continued to move towards the safe haven asset following rising tensions between the US and Iran.

    The tensions in Middle East region rose after US killed top Iranian commander Qasem Soleimani following an air strike on Baghdad's international airport on Friday.

    On the Multi Commodity Exchange, gold contracts for February traded higher by Rs 18, or 0.04 per cent, at Rs 40,490 per 10 gram with a business turnover of 4,004 lots. The yellow metal for April delivery traded higher by Rs 12, or 0.03 per cent, at Rs 40,691 per 10 gram in a business turnover of 288 lots.

    Fresh positions built up by participants led to the rise in gold prices, analysts said.

    Globally, gold prices rose 0.02 per cent to USD 1,569.10 per ounce in New York.

    (PTI)

    12:59 (IST)07 Jan 2020
    Petrol and Diesel prices on Tuesday

    Delhi:

    Petrol- 75.74 per litre
    Diesel- 68.79 per litre

    Kolkata:

    Petrol- 78.33 per litre
    Diesel- 71.15 per litre

    Mumbai:

    Petrol- 81.33 per litre
    Diesel- 72.14 per litre

    Chennai:

    Petrol- 78.69 per litre
    Diesel- 72.69 per litre

    Bengaluru:

    Petrol- 78.28 per litre
    Diesel- 71.08 per litre

    Source: IOCL

    12:53 (IST)07 Jan 2020
    Crude oil futures dip after soaring in previous sessions on US-Iran tension

    Crude oil futures on Tuesday dropped 0.77 per cent to Rs 4,503 per barrel after soaring in previous sessions following tensions between the US and Iran.

    On the Multi Commodity Exchange, crude oil for January delivery traded lower by Rs 35, or 0.77 per cent, at Rs 4,503 per barrel in 23,748 lots. Crude oil for February delivery was down Rs 38, or 0.84 per cent, at Rs 4,498 per barrel with an open interest of 922 lots.

    According to analysts, markets are awaiting Iran's next step after the killing of its top commander.

    The tensions in Middle East region rose after US killed top Iranian commander Qasem Soleimani following an air strike on Baghdad's international airport on Friday. Soleimani's killing was the most dramatic escalation yet in spiralling tensions between Iran and the US, already hit by serious differences over Tehran's ambitious nuclear programme.

    Globally, the West Texas Intermediate (WTI) was trading lower by 0.93 per cent at USD 62.68 per barrel. Meanwhile, Brent crude, the international benchmark, edged lower by 1.07 per cent to USD 68.18 per barrel in New York.

    (PTI)

    12:47 (IST)07 Jan 2020
    High oil prices pose threat to improvement in Indian CAD: DBS report

    Markets view the rally in Brent oil prices, triggered by geopolitical tensions, as a threat to the improvement in India’s FY20 current account deficit and forecasts for a balance of payment surplus, according to a report.

    Downbeat sentiments saw USD-INR exchange rate test past 72 to a two-month high, while the benchmark equity indices witnessed mayhem on Monday, said a report by Singapore’s banking group DBS. Click here to read the complete report

    12:13 (IST)07 Jan 2020
    NSE sectoral indices update

    Among the sectoral indices on the National Stock Exchange (NSE), the Nifty Metal index was the top gainer climbing over 1.1 per cent at noon. It was closely followed by the Nifty Realty index.

    Here's a look at the performance of the sectoral indices on the NSE at noon.

    Source: NSE
    12:09 (IST)07 Jan 2020
    BSE indices check at noon

    After surging over 550 points in the morning, the S&P BSE Sensex was up over 250 points at noon. Here's how other key BSE indices were performing in the noon trade.

    Source: BSE
    11:44 (IST)07 Jan 2020
    SC rejects Centre’s plea challenging refund of Rs 104 crore ordered by TDSAT to RCom

    The Supreme Court on Tuesday rejected the Centre’s plea challenging TDSAT’s order directing refund of around Rs 104 crore to Reliance Communication.

    A bench of justices R F Nariman and S Ravindra Bhat said, “We don’t find any merits in the appeal”. Click here to read the story

    11:18 (IST)07 Jan 2020
    China won’t hike grain import quotas for US trade deal: Caixin report

    China will not increase its annual low-tariff import quotas for corn, wheat and rice to accommodate stepped-up purchases of farm goods from the United States, local media group Caixin quoted senior agriculture official Han Jun as saying on Tuesday.

    The report raises further questions about how China will meet a target of spending billions of dollars more on US agricultural goods as the two countries look to reach an initial agreement to calm an extended trade war. Click here to read the complete story

    10:56 (IST)07 Jan 2020
    Shivalik Mercantile Co-op gets RBI nod to become small finance bank

    The Reserve Bank of India (RBI) has granted “in-principle” approval to Shivalik Mercantile Co-operative Bank for transition into a small finance bank (SFB). This is the first licence issued by the RBI to an urban co-operative bank (UCB) to become an SFB under its new policy regime.

    As per the RBI, the transition will be under the “Scheme on voluntary transition of Urban Co-operative Bank into a Small Finance Bank” issued on September 27, 2018. “The ‘in-principle’ approval granted will be valid for 18 months to enable the applicant to comply with the requirements under the scheme, the guidelines for ‘on tap’ licensing of SFBs in the private sector dated December 5, 2019 and fulfil other conditions as stipulated by the RBI,” the RBI said. Click here to read the report

    10:46 (IST)07 Jan 2020
    RBI revises supervisory action framework for UCBs

    The Reserve Bank of India has decided to tighten the supervisory action framework (SAF) of primary urban co-operative banks to bring about the desired improvement in the UCBs, as also expeditious resolution of UCBs experiencing financial stress.

    “A UCB may be placed under SAF when its net NPAs exceed 6 per cent of its net advances,” the RBI said. The RBI will continue to monitor asset quality, profitability, capital and net worth of UCBs under the revised SAF, it said. Click here to read the story

    10:30 (IST)07 Jan 2020
    Income Tax relief for middle class & incentives for new home buyers likely

    The Finance Ministry is likely to provide income tax relief to the middle class in the upcoming Union Budget 2020-21, according to two senior government officials.

    A series of discussions have been held within the government to promote economic growth and a reduction in the tax burden is seen as having a direct impact on boosting consumption. Click here to read the complete story

    10:22 (IST)07 Jan 2020
    INTERVIEW | ‘If the US-Iran tension spins out of control, the implications are unknown’, says NSE MD and CEO Vikram Limaye

    Spooked by rising tension between the US and Iran and rising crude prices, the benchmark Nifty at NSE and Sensex at BSE fell 1.9 per cent each on Monday. Vikram Limaye, MD and CEO, National Stock Exchange (NSE), told Sandeep Singh that if the US-Iran tension spins out of control, the implications would be unknown globally. Stating that India can’t be immune as an economy and as a market, he said the only hope is that other countries and the UN would weigh in and won’t let a knee-jerk response take place. He also spoke about the need for broad basing the Indian market with quality stocks that have liquidity as the concentration of fund flow in few stocks is a risk. Click here to read the complete interview

    09:54 (IST)07 Jan 2020
    Global crude oil update

    Oil prices fell more than 1 per cent on Tuesday as investors reconsidered the likelihood of Middle East supply disruptions in the wake of the United States killing a top Iranian military commander.

    Brent crude fell as much as 1.5 per cent to $67.86 a barrel and was at $68.09, down 82 cents, at 0324 GMT. US West Texas Intermediate (WTI) crude futures was at $62.53, down 74 cents, after earlier dropping 1.5 per cent to an intra-day low of $62.30.

    (Reuters)

    09:52 (IST)07 Jan 2020
    Global market update

    Asian shares rebounded on Tuesday as a day passed without any new escalation in the Middle East and Wall Street erased early losses to end in the black as tech stocks climbed.

    MSCI's broadest index of Asia-Pacific shares outside Japan added 0.6 per cent, recouping almost all of Monday's losses. Japan's Nikkei rallied 1.3 per cent and Shanghai blue chips advanced 0.5 per cent. E-Mini futures for the S&P 500 firmed 0.1 per cent, while EUROSTOXX 50 futures rose 0.4 per cent.

    Shares had fallen sharply on Monday as Iran and the United States traded threats after a US airstrike killed a top Iranian commander. The mood calmed a little as the session passed with no new aggression.

    (Reuters)

    09:48 (IST)07 Jan 2020
    BSE Sensex: Gainers and losers in early trade

    In percentage terms, the gains in the S&P BSE Sensex were being led by IndusInd Bank, SBI, HDFC Bank, Reliance Industries (RIL), Tata Steel and Axis Bank. The losers comprised only of the information technology (IT) stocks - Tech Mahindra, HCL Technologies and TCS.

    Source: BSE
    09:41 (IST)07 Jan 2020
    Equity markets at open

    At 9:16 am, the S&P BSE Sensex was trading at 41,078.96, up 402.33 points or 0.99 per cent, while the broader Nifty 50 was at 12,110.55, up 117.50 points or 0.98 per cent.

    On Monday, the S&P BSE Sensex cracked 787.98 points or 1.90 per cent to settle at 40,676.63. During the day the 30-share benchmark index fell as much as 850.65 points to touch an intraday low of 40,613.96.

    HDFC twins, which comprise of HDFC Bank and HDFC and oil-to-telecom heavyweight Reliance Industries (RIL) were the biggest contributors to Sensex’s fall on Monday.

    On the other hand, the broader Nifty 50 fell 233.60 points or 1.91 per cent to end the day below the 12,000-mark at 11,993.05. The 50-share index fell to an intraday low of 11,974.20 during the trade, down 252.45 points from Friday.