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Market Highlights: Sensex slips 52 points, Nifty ends at 12,025

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

By: Express Web Desk | New Delhi | Updated: January 8, 2020 4:26:25 pm
Share Trading at a firm in Kolkata. (Express photo by Partha Paul)

Share/Stock Market Highlights: The frontline equity indices on the BSE and National Stock Exchange (NSE) settled marginally lower on Wednesday as US-Iran tensions kept investors on the edge.

The S&P BSE Sensex settled at 40,817.74, down 51.73 points or 0.13 per cent, while the broader Nifty 50 ended at 12,025.35, down 27.60 points or 0.23 per cent.

Among the sectoral indices on NSE, the Nifty IT index and the Nifty FMCG index rose 0.37 and 0.11 per cent respectively, while the Nifty Auto index settled 0.75 per cent lower.

In the broader market, the S&P BSE MidCap index climbed 12.00 points or 0.08 per cent higher at 14,873.91, while the S&P BSE SmallCap index ended 22.58 points or 0.18 per cent higher at 13,876.68.

(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:

15:38 (IST)08 Jan 2020
Equity markets at close

The S&P BSE Sensex settled at 40,817.74, down 51.73 points or 0.13 per cent, while the broader Nifty 50 ended at 12,025.35, down 27.60 points or 0.23 per cent.

15:32 (IST)08 Jan 2020
Silver futures soar Rs 585 to Rs 48,691 per kg

Silver futures on Wednesday traded higher by Rs 585 at Rs 48,691 per kg after speculators raised bets, driven by a firm trend overseas.

Silver contracts for March delivery rose Rs 585, or 1.22 per cent, to Rs 48,691 per kg in a business turnover of 9,645 lots on the Multi Commodity Exchange. The white metal to be delivered in May also jumped Rs 521, or 1.07 per cent, to Rs 49,150 per kg in 117 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 0.94 per cent higher at USD 18.57 an ounce in New York.

(PTI)

15:31 (IST)08 Jan 2020
Gold futures jump 1.12 per cent on US-Iran tensions flare up

Gold prices on Wednesday gained 1.12 per cent to Rs 41,117 per 10 gram in futures trade as further escalations in US-Iran conflict prompted investors to move towards safe haven assets.

On the Multi Commodity Exchange, gold contracts for February traded higher by Rs 454, or 1.12 per cent, at Rs 41,117 per 10 gram with a business turnover of 6,824 lots. The yellow metal for April delivery traded higher by Rs 483, or 1.18 per cent, at Rs 41,350 per 10 gram in a business turnover of 1,459 lots.

The tensions in Middle East escalated further after Iran launched over a dozen ballistic missiles targeting bases where US military and coalition forces are stationed in Iraq. The attacks were in revenge for the killing of the commander of Iran's Revolutionary Guards, General Qasem Soleimani following US airstrike last week.

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

Globally, gold prices rose 1.29 per cent to USD 1,594.60 per ounce in New York.

(PTI)

15:29 (IST)08 Jan 2020
Crude oil futures climb 1.5 per cent after Iran strikes US bases in Iraq

Crude oil prices on Wednesday rose 1.49 per cent to Rs 4,561 per barrel as speculators raise their bets following further escalation of tensions in the middle-east after Iran attacked US bases in Iraq, raising concerns about disruption in oil supplies.

On the Multi Commodity Exchange, crude oil for delivery in January traded higher by Rs 67, or 1.49 per cent, to Rs 4,561 per barrel in 66,839 lots. Crude oil for February delivery was up by Rs 64, or 1.45 per cent, at Rs 4,560 per barrel with an open interest of 2,983 lots.

The conflict between US-Iran escalated further after Iran launched over a dozen ballistic missiles targeting bases where US military and coalition forces are stationed in Iraq. The attacks were in revenge for the killing of the commander of Iran's Revolutionary Guards, General Qasem Soleimani following US airstrike on Friday last week.

Globally, the West Texas Intermediate (WTI) was trading higher by 1.02 per cent at USD 63.34 per barrel. Meanwhile, Brent crude, the international benchmark, edged up by 1.33 per cent to USD 69.18 per barrel in New York.

(PTI)

13:53 (IST)08 Jan 2020
To check evasion, GST authorities may seek access to taxpayers’ bank accounts

Anxious to curb tax evasion and boost revenue receipts, the goods and services tax (GST) authorities will consult the RBI and National Payments Corporation of India for access to bank account details and transactions of taxpayers.

Authorities would also explore the alignment of GST system with the Financial Intelligence Unit (FIU) to obtain bank account details, including PAN-based banking transactions, the government said Tuesday, after a meeting of state and central indirect tax officials chaired by Revenue Secretary Ajay Bhushan Pandey here. Click here to read the complete report

13:51 (IST)08 Jan 2020
12,000 MT onion imported so far; states to get stock at Rs 49-58/kg for retail sale

The Centre has offered imported onions to states and Union Territories for direct distribution to consumers for Rs 49–58 per kg, in a bid to bring down onion prices, said Ram Vilas Paswan, Union Minister of Consumer Affairs, Food and Public Distribution, on Tuesday.

Paswan said the central government had decided to import 41,950-metric tonne (MT) onions through state-owned MMTC to reduce prices and augment availability; of this, 12,000 MT has arrived and the rest is expected to arrive by the end of January. Click here to read the report

13:48 (IST)08 Jan 2020
It’s official: GDP rate seen slumping to 5%

WITH A sharp slowdown in manufacturing and construction, and the only major support coming from government expenditure, the Gross Domestic Product (GDP) growth rate is seen slumping to 5.0 per cent, the lowest since the 2008 economic crisis, according to data released by National Statistical Office (NSO).

With this, the GDP growth rate is expected to rise only marginally to 5.25 per cent during October-March, the second half of the financial year, from 4.75 per cent in the first half. A major area of concern for policymakers is that with the exception of government expenditure, all other demand drivers — private consumption, investment and exports — are flagging. Two major employment generators are also showing signs of a slump, with growth in manufacturing seen slowing to a 15-year low and construction to a six-year low. Click here to read the complete story

13:46 (IST)08 Jan 2020
Airlines re-route flights away from Iraq, Iran airspace after missile attack on US troops

Several major airlines said on Wednesday they were re-routing flights to avoid airspace over Iraq and Iran after the Federal Aviation Administration banned US carriers from the area following an Iranian missile attack on US-led forces in Iraq.

Iran fired more than a dozen ballistic missiles from its territory at at least two Iraqi military bases hosting US-led coalition personnel early on Wednesday, the US military said. Click here to read the report

13:41 (IST)08 Jan 2020
Banking services affected owing to nationwide trade union strike

Banking services across various parts of the country were affected on Wednesday after bank employees from different public sector banks went on a day-long nationwide strike announced by ten central trade unions as part of a Bharat bandh.

Multiple banking activities such as cash withdrawal and deposits have been affected at branches of various PSU banks. Click here to read the complete story

12:04 (IST)08 Jan 2020
BSE indices check at noon

At noon deals, the S&P BSE Sensex, continues to remain under pressure. The 30-share benchmark was down over 250 points.

Here's how other key BSE indices were performing:

Source: BSE
11:51 (IST)08 Jan 2020
Oil gains trimmed as tensions on Iran strike recede for now

Oil markets calmed after on Wednesday after prices had jumped to their highest in months in the wake of a rocket attack by Iran on American forces in Iraq that raised the spectre of a spiralling conflict and disrupted crude supplies.

Prices gave up a large part of their gains after the early surges as analysts said market tension could ease as long as oil production facilities remain unaffected by attacks. Tweets by US President Donald Trump and Iran’s foreign minister also appeared to signal a period of calm – for now. Click here to read the report

11:32 (IST)08 Jan 2020
Yes Bank shares rise nearly 5 per cent on fundraising plan

Shares of Yes Bank jumped as much as 4.77 per cent each on the BSE and National Stock Exchange (NSE) in the morning trade on Wednesday after the private bank announced its board will be meeting on Friday to consider proposals for fundraising.

The stock of the private sector lender rose by 4.77 per cent to Rs 47.25 apiece on the BSE and to Rs 47.20 on NSE. However, it later pared some of its morning gains and was trading at Rs 45.60, up Rs 0.50 or 1.11 per cent on the BSE and Rs 45.55 per share, up Rs 0.50 or 1.11 per cent on NSE. Click here to read the report

10:25 (IST)08 Jan 2020
Global oil market update

Oil markets calmed after on Wednesday after prices had jumped to their highest in months in the wake of a rocket attack by Iran on American forces in Iraq that raised the spectre of a spiralling conflict and disrupted crude supplies.

Prices gave up a large part of their gains after the early surges as analysts said market tension could ease as long as oil production facilities remain unaffected by attacks. Tweets by US President Donald Trump and Iran's foreign minister also appeared to signal a period of calm - for now.

Brent crude futures were up 97 cents, or 1.4 per cent, to $69.24 by around 0403 GMT, after earlier rising to $71.75, the highest since mid-September 2019. West Texas Intermediate crude futures climbed 82 cents, or 1.3 per cent, to $63.52 a barrel. It earlier reached a high of $65.85, the most since late April last year.

(Reuters)

10:22 (IST)08 Jan 2020
Global market update

Financial markets were roiled on Wednesday after Iran fired missiles at US forces in Iraq, sending Asian stocks and US Treasury yields sliding and sharply lifting oil prices as investors feared a wider conflict in the Middle East.

Iran's missile attacks on the Ain Al-Asad air base and another in Erbil, Iraq, early Wednesday came hours after the funeral of an Iranian commander whose killing in a U.S. drone strike has intensified tensions in the region.

By late morning in Asia, however, equities had trimmed losses, the yen had stabilised somewhat and US bonds tempered their rally as investors paused for breath, and as a US official said the United States was not aware of any casualties from the strikes.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.47 per cent around 0400 GMT, having dropped more than 1 per cent earlier in the day. China's blue-chip CSI300 index was 0.48 per cent lower. Japan's Nikkei was down 1.2 per cent, also paring earlier losses of over 2 per cent, while Australian shares clawed back from a more-than-1 per cent drop to shed just 0.14 per cent. US S&P500 e-mini stock futures, which had earlier dropped nearly 1.7 per cent, were down 0.26 per cent.

(Reuters)

10:15 (IST)08 Jan 2020
India’s GDP to grow at 5 per cent in FY20: Government data

The country’s GDP will grow at 5 per cent in the current fiscal year (April 2019-March 2020) as compared to 6.8 per cent in 2018-19, according to the First Advance Estimates released by the Ministry of Statistics & Programme Implementation (MoSPI).

The Real GDP which is also known as the GDP at constant prices (2011-12) in 2019-20 is likely to attain a level of Rs 147.79 lakh crore, as against the provisional estimate of GDP for the year 2018-19 of Rs 140.78 lakh crore, released on May 31, 2019, the release said. Click here to read the complete story

10:03 (IST)08 Jan 2020
NSE sectoral indices update

Among the sectoral indices on National Stock Exchange (NSE), the Nifty PSU Bank was the worst performer in the morning deals slipping over 1 per cent. Here's how all the other sectoral indices were performing.

Source: NSE
10:00 (IST)08 Jan 2020
Rupee in early trade

The Indian rupee tumbled 20 paise to 72.02 against the US dollar in opening trade on Wednesday as Mideast tensions flared up after Iran fired rockets at US military bases in Iraq.

Asian markets dived while oil prices firmed up after Iran fired more than a dozen ballistic missiles at two Iraqi bases with US personnel in retaliation to the killing of its top general Qassem Soleimani.

At the interbank foreign exchange market, the rupee opened weak and slipped to the 72-mark against the greenback in early deals.
The local unit had closed at 71.82 per dollar on Tuesday.

(PTI)

09:57 (IST)08 Jan 2020
Equity markets at open

At 9:17 am, the S&P BSE Sensex was at 40,545.72, down 323.75 points or 0.79 per cent, while the Nifty 50 was down 103.70 points or 0.86 points at 11,949.25.

On Tuesday, 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.