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Tuesday, January 21, 2020

Market Highlights: Sensex rises 60 points lead by RIL, Kotak Mahindra Bank, HUL, Nestle

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

By: Express Web Desk | New Delhi | Updated: January 16, 2020 5:43:10 pm
The benchmark indices on BSE and NSE settled marginally higher on Thursday. (Image source: Getty/Thinkstock)

Share Market Highlights: The benchmark equity indices on the BSE and National Stock Exchange (NSE) got back to winning ways after a one-day blip led by gains in the shares of oil-to-telecom giant Reliance Industries (RIL), Kotak Mahindra Bank and fast-moving consumer goods (FMCG) giants Hindustan Unilever (HUL) and Nestle India.

The S&P BSE Sensex climbed 59.83 points (0.14 per cent) to settle at 41,932.56, while the Nifty 50 ended at 12,356.25, up 12.95 points or 0.09 per cent. During the intraday trade, the 30-share benchmark crossed the 42,000-mark for the first time ever to reach an all-time high of 42,059.45, while the Nifty touched a record high of 12,389.05.

Among the sectoral indices on NSE, the Nifty FMCG index rose 100.90 points or 0.24 per cent to end at 31,338.00 led by gains in Emami, Nestle and HUL.

In the broader market, the S&P BSE MidCap rose 119.00 points or 0.77 per cent settle at 15,625.23, while the S&P BSE SmallCap ended at 14,647.54, up 113.68 points or 0.78 per cent.

(with inputs from agencies)

Live Blog

Stocks, BSE Sensex, NSE Nifty, Crude oil prices, gold, silver prices, commodity market and money markets LIVE updates:

Highlights

    17:41 (IST)16 Jan 2020
    Rupee falls by 11 paise to 70.93 vs US Dollar

    The rupee pared early gains and settled lower by 11 paise at 70.93 against the US dollar on Thursday amid steady rise in crude oil prices and dollar demand from importers.

    At the interbank foreign exchange market, the domestic currency opened on a strong note at 70.80 a dollar. But during the day it lost momentum and touched a low of 70.98 against the American currency. The rupee finally settled the day at 70.93, showing a fall of 11 paise over its previous close.

    (PTI)

    17:09 (IST)16 Jan 2020
    IOC to decide on bidding for BPCL after govt lays out rules: Chairman

    Indian Oil Corp (IOC), the country’s biggest oil firm, will decide on bidding to buy Bharat Petroleum Corporation Ltd (BPCL) after the government lists out rules for the stake sale, its Chairman Sanjiv Singh said Thursday.

    The Cabinet Committee on Economic Affairs had on November 21, 2019 decided to sell government’s entire 53.29 per cent stake in country’s second-largest state refiner BPCL, but a tender for sale hasn’t yet been issued. Click here to read the report

    16:44 (IST)16 Jan 2020
    India’s palm oils import dips over 8% in December: Industry body

    India’s import of palm oils declined by 8.64 per cent to 7,41,490 tonnes in December 2019, Industry body Solvent Extractors Association (SEA) said on Thursday.

    India, the world’s leading vegetable oil buyer, had imported 8,11,700 tonne palm oils in December 2018. Click here to read the report

    16:06 (IST)16 Jan 2020
    MARKET QUOTE | Vinod Nair, Head of Research, Geojit Financial Services on Thursday's market performance

    "The main indices are seeing a mild pause in the trajectory after the solid performance in the last one-month. It may wait and analyse the upcoming key companies’s Q3 results. Globally the completion of the US-China deal and sudden jump in consumer inflation and NPAs in India are impacting the main indices. But broad market is still very solid in expectation of re-rate in valuation supported by revamp in earnings growth."

    16:03 (IST)16 Jan 2020
    BSE Sensex: Gainers and losers of the day

    Top gainers among Sensex stocks included Nestle India, Kotak Mahindra Bank, HUL, Bharti Airtel, RIL and TCS. On the other hand, NTPC, Hero MotoCorp, Tata Steel, tech Mahindra, Axis Bank and IndusInd Bank were the biggest losers of the day.

    Source: BSE
    15:37 (IST)16 Jan 2020
    Equity markets at close

    The S&P BSE Sensex climbed 59.83 points (0.14 per cent) to settle at 41,932.56, while the Nifty 50 ended at 12,356.25, up 12.95 points or 0.09 per cent.

    15:28 (IST)16 Jan 2020
    Crude oil futures gain on spot demand, global cues

    Crude oil prices rose Rs 21 to Rs 4,121 per barrel on Thursday as speculators created fresh positions amid positive trend in the spot market.

    On the Multi Commodity Exchange, crude for January delivery traded higher by Rs 21, or 0.51 per cent, at Rs 4,121 per barrel in 18,437 lots.
    Analysts said fresh bets created by participants kept crude prices higher in futures trade.

    Globally, West Texas Intermediate crude oil was trading 0.38 per cent higher at USD 58.03 per barrel, while Brent crude, the international benchmark, rose 0.36 per cent to USD 64.23 per barrel in New York.

    (PTI)

    15:23 (IST)16 Jan 2020
    Gold futures gain Rs 42 to Rs 39,653 per 10 gm

    Gold prices on Thursday rose by Rs 42 to Rs 39,653 per 10 gram in futures trade as speculators increased their bets in tandem with positive trend overseas.

    On the Multi Commodity Exchange, gold contracts for February traded higher by Rs 42, or 0.11 per cent, at Rs 39,653 per 10 gram with a business turnover of 11,890 lots. The yellow metal for April delivery also traded higher by Rs 33, or 0.08 per cent, at Rs 39,777 per 10 gram in a business turnover of 11,123 lots.

    Fresh positions built up by participants taking positive cues from global markets mostly led to the rise in gold prices, analysts said.

    Globally, gold prices rose by 0.04 per cent to USD 1,554.60 per ounce in New York.

    (PTI)

    15:20 (IST)16 Jan 2020
    Nickel futures fall on muted demand

    Nickel futures on Thursday declined by Rs 2.50 to Rs 1,047 per kg due to reduction of positions by speculators amid sluggish demand in spot market.

    On the Multi Commodity Exchange, nickel contracts for January delivery fell by Rs 2.50, or 0.24 per cent, to Rs 1,047 per kg with a business turnover of 2,064 lots. Similarly, nickel contracts for February delivery dropped by Rs 3.50, or 0.33 per cent, to Rs 1,046 per kg in 62 lots.

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

    (PTI)

    15:19 (IST)16 Jan 2020
    Silver futures slump Rs 179 to Rs 46,210 per kg

    Silver futures on Thursday slumped by Rs 179 to Rs 46,210 per kg as participants cut down their bets on low spot demand.

    On the Multi Commodity Exchange, silver contracts for March delivery tumbled by Rs 179, or 0.39 per cent, to Rs 46,210 per kg in a business turnover of 1,0447 lots. Besides, the white metal to be delivered in May fell by Rs 158 to Rs 46,695 per kg in 577 lots.

    In the international market, silver prices traded 0.46 per cent lower at USD 17.91 an ounce in New York.

    (PTI)

    14:23 (IST)16 Jan 2020
    Copper futures slide on weak cues

    Copper futures on Thursday traded slightly lower at Rs 455 per kg as speculators reduced their exposure on weak spot demand.

    On the Multi Commodity Exchange, copper contracts for January delivery fell by 25 paise, or 0.05 per cent, to Rs 455 per kg in a business turnover of 4,843 lots. Similarly, copper contracts for February delivery traded lower by 5 paise, or 0.01 per cent, at Rs 456.10 per kg in a business turnover of 1,614 lots.

    Traders said weak demand in spot market mainly pushed down copper prices here.

    (PTI)

    14:16 (IST)16 Jan 2020
    Coriander futures ease on weak demand

    Coriander prices on Thursday fell Rs 24 to Rs 6,412 per quintal in futures trade as speculators reduced their positions amid sluggish demand in spot market.

    On the Multi Commodity Exchange, coriander contracts for January delivery fell by Rs 24, or 0.37 per cent, to Rs 6,412 per quintal in 950 lots. Similarly, coriander contracts for April delivery declined by Rs 38, or 0.54 per cent, to Rs 6,950 per quintal in 9,470 lots.

    Market analysts said subdued demand in spot market mainly led to the decline in coriander prices in futures trade.

    (PTI)

    14:15 (IST)16 Jan 2020
    Guar gum futures slide on sluggish demand

    Guar gum prices on Thursday dropped Rs 136 to Rs 7,188 per five quintal in futures market as traders offloaded their positions amid subdued demand.

    Marketmen said trimming of positions by participants amid weak demand dragged down guar gum prices here.

    On the National Commodity and Derivatives Exchange, guar gum contracts for January delivery slipped by Rs 136, or 1.86 per cent, to Rs 7,188 per five quintal in 395 lots. Guar gum contracts for February delivery eased by Rs 73, or 0.99 per cent, to Rs 7,275 per five quintal in 58,905 lots.

    (PTI)

    14:13 (IST)16 Jan 2020
    Mustard seed futures decline on subdued demand

    Mustard seed prices dropped Rs 35 to Rs 4,332 per quintal in futures trade on Thursday as speculators cut down their positions on subdued demand.

    On the National Commodity and Derivatives Exchange, mustard seed contracts for January delivery fell by Rs 35, or 0.80 per cent, to Rs 4,332 per quintal in a business turnover of 2,350 lots. Mustard seed contracts for February delivery also declined by Rs 56, or 1.29 per cent, to Rs 4,290 per quintal in a business turnover of 13,950 lots.

    Marketmen said offloading of positions by participants, following a weak trend in spot market, led to the fall in mustard seed prices.

    (PTI)

    14:13 (IST)16 Jan 2020
    Soybean futures decline on muted demand

    Soybean prices fell by Rs 34 to Rs 4,202 per quintal in futures market on Thursday as traders cut down their positions amid weak cues from physical markets.

    On the National Commodity and Derivatives Exchange, soybean contracts for January delivery moved down by Rs 34, or 0.80 per cent, to Rs 4,202 per quintal with an open interest of 9,490 lots. Soybean for February delivery also eased by Rs 34, or 0.81 per cent, to Rs 4,166 per quintal with an open interest of 1,94,600 lots.

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

    (PTI)

    14:12 (IST)16 Jan 2020
    GMR Infra hits 52-week high as firm decides to sell 49% stake in airport business

    Shares of GMR Infrastructure rose as much as 4.38 per cent to touch a 52-week high of Rs 25 apiece on the BSE and National Stock Exchange (NSE) in the intraday trade on Thursday after the company announced that will sell 49 per cent stake in its airport business to TRIL Urban Transport (a Tata Group firm).

    The stock of the infrastructure company climbed 4.38 per cent to Rs 25.00, a 52-week high, during the morning session of trade. However, the stock pared most of its gains and was trading over 0.5 per cent higher in afternoon trade. At 1:25 pm, the scrip was at Rs 24.10, up Rs 0.15 (0.63 per cent) on the BSE as well as NSE. Click here to read the report

    13:09 (IST)16 Jan 2020
    Explained: A new controversy on India’s fiscal deficit

    On the face of it, India’s fiscal deficit, which essentially maps how much money the Indian government has to borrow to make up the gap between its expenditure and its revenues, was just 3.4 per cent of the gross domestic product (GDP) for 2018-19. For the current year, the Union Budget presented in July expected the fiscal deficit to be 3.3 per cent of the GDP.

    However, for long, it has been suspected that the official figures hide the true fiscal deficit. Click here to read further

    12:58 (IST)16 Jan 2020
    Moody’s: Rising sea levels threaten sovereign credit ratings

    Economic shocks stemming from rising sea levels pose a long-term risk to the sovereign credit ratings of dozens of countries that have large areas at risk of submersion, including Vietnam, Egypt, Suriname, and the Bahamas, Moody’s said on Thursday. Click here to read the complete report

    12:30 (IST)16 Jan 2020
    Markets eye improved transparency in Budget: Report

    Indian financial market will look for improved transparency in the Union Budget announcements next month, according to a report by Singapore banking group DBS.

    “Any reduction in the fiscal deficit could result in a negative credit impulse in the near-term, but will need to be balanced with a credible consolidation plan further-out,” according to the the bank’s research report “India Budget Preview: Loosening the purse” released on Thursday. Click here to read the complete report

    12:03 (IST)16 Jan 2020
    BSE indices check at noon

    The S&P BSE Sensex was trading largely flat at noon along with S&P BSE Sensex 50 and S&P BSE 100. Here's how all the key BSE indices performed at noon deals:

    Source: BSE
    11:41 (IST)16 Jan 2020
    With divestment target under pressure, Centre fast-tracks strategic sales process

    The government is working to finalise advisors this month to assist with strategic disinvestment in Neelachal Ispat Nigam Limited — a joint venture company owned by four central public sector enterprises (CPSEs) and two Odisha state-owned companies.

    CPSEs MMTC, NMDC, BHEL and MECON, along with Industrial Promotion and Investment Corporation of Odisha Ltd and Odisha Mining Corporation, will sell their respective stakes in Neelachal Ispat Nigam Limited to a strategic buyer. Click here to read the complete story

    11:36 (IST)16 Jan 2020
    Airtel raises $2 billion via QIP, $1 billion through FCCBs

    A week before the deadline to pay Rs 35,000-crore adjusted gross revenue (AGR) dues to the government, Bharti Airtel has raised $3 billion through qualified institutional placement (QIP) and foreign currency convertible bonds (FCCBs). The company said in a statement on Wednesday that it raised $2 billion through QIP and $1 billion through FCCBs.

    After the $2 billion QIP, the holding of promoter and promoter group will come down to 58.98 per cent as against 62.70 per cent, the company said. Click here to read the report

    11:29 (IST)16 Jan 2020
    MARKET QUOTE | Hareesh V, Head of Commodity Research at Geojit Financial Services on gold market

    "Gold is likely to trade down as the initial trade deal between the US and China has lifted global economic optimism which has limited gold’s safe haven demand. Easing tensions in the Middle East may also pressure prices. However, worries about existing tariffs and the unresolved issues in the trade deal are likely to limit major downside.

    On the technical side, a range trade inside $1535-1562 levels are initially expected. Breaking any of the sides would suggest a fresh direction to the commodity."

    11:27 (IST)16 Jan 2020
    Competition Commission probe against Asian Paints

    The Competition Commission of India (CCI) has ordered a probe against Asian Paints for allegedly threatening dealers and misusing its dominant position in the market to restrict the entry of JSW Paints in the three southern states of Karnataka, Telangana and Tamil Nadu.

    The Commission has asked the Director General of CCI to conduct an independent probe and submit its report in 60 days from the date of the order. Click here to read the complete report

    11:18 (IST)16 Jan 2020
    Sensex pares all early morning gains, turns negative

    The S&P BSE Sensex erased all its early morning gains and turned negative in the late morning session. Here is how other key BSE indices were performing:

    Source: BSE
    10:59 (IST)16 Jan 2020
    Rupee update

    The rupee appreciated by 7 paise to 70.75 against the US dollar in early trade on Thursday as sign of easing tensions between the US and China strengthened investor sentiments.

    The United States on Wednesday signed the first phase of a trade deal with China, which President Donald Trump described as historic, concluding more than a year of tough negotiations between the two largest economies of the world.

    At the interbank foreign exchange the rupee opened at 70.80 against the US dollar, then gained further ground and touched a high of 70.75 against the American currency, registering a rise of 7 paise over its previous close. On Wednesday, rupee had settled for the day at 70.82 against the US dollar.

    (PTI)

    10:55 (IST)16 Jan 2020
    This $453 billion bond manager is shifting bets from India to China

    Western Asset Management Co. is reducing its Indian government bond holdings as tensions around a new citizenship law and the Kashmir region cloud the economic outlook.

    The $453 billion investor, an affiliate of Legg Mason Inc., is diverting some of its funds into longer-dated Malaysian and Chinese debt, according to Desmond Soon, head of investment management for Asia ex-Japan. It has an overweight position in India bonds. Click here to read the report

    10:24 (IST)16 Jan 2020
    Sectoral indices on NSE in morning trade

    On the sectoral front, the Nifty Media index was up over 1 per cent, while the Nifty FMCG index was up nearly 0.5 per cent.

    Here is how other sectoral indices on the National Stock Exchange (NSE) were performing in the morning trade:

    Source: NSE
    10:07 (IST)16 Jan 2020
    Sensex crosses 42,000 fir the first time, Nifty at record high

    The S&P BSE Sensex crossed the 42,000-mark for the first time ever to reach an all-time high of 42,059.45 in the intraday trade. The previous record of the 30-share benchmark was 41,994.26 achieved on Tuesday’s trade. The Nifty 50 too touched a record high of 12,389.05, eclipsing its previous high of 12,374.25.

    09:47 (IST)16 Jan 2020
    Global crude oil update

    Oil prices rose on Thursday after the signing of an initial Sino-US trade deal that sets the stage for a surge in Chinese purchases of American energy products, while U.S. crude inventories fell more than expected.

    Brent was 45 cents, or 0.7 per cent, higher at $64.45 a barrel by 0310 GMT, while US crude was up by 39 cents, or 0.7 per cent, at $58.20 a barrel.

    (Reuters)

    09:41 (IST)16 Jan 2020
    BSE Sensex: Gainers and losers in early trade

    In the early session of trade, the gains in the Sensex were being led by Sun Pharma, Kotak Mahindra Bank, HUL, Nestle, Power Grid and RIL. On the other hand, NTPC, Tata Steel and Hero MotoCorp were among the top losers.

    Source: BSE
    09:36 (IST)16 Jan 2020
    Global market update

    World stocks inched ahead to a record high on Thursday after the United States and China signed an initial deal to defuse their 18-month trade war, though financial markets were wary as a number of thorny issues remained unresolved.

    MSCI's broadest index of world stocks firmed 0.04 per cent in early trade after closing at record level on Wednesday while its index on Asia-Pacific shares outside Japan rose 0.21 per cent. Japan's Nikkei rose 0.14 per cent while mainland China's Shanghai composite index was almost flat.

    US President Donald Trump and Chinese Vice Premier Liu He on Wednesday signed a deal that will roll back some tariffs and see China boost purchases of U.S. goods and services by $200 billion over two years.

    (Reuters)

    09:35 (IST)16 Jan 2020
    Equity markets at open

    At 9:16 am, the S&P BSE Sensex was up 51.28 points or 0.12 per cent at 41,924.01, while the Nifty 50 was at 12,356.65, up 13.35 points or 0.11 per cent.

    On Wednesday, the Sensex had fallen by 79.90 points (0.19 per cent) to settle at 41,872.73, while the broader Nifty 50 dipped 19.00 points (0.15 per cent) to end the day at 12,343.30.

    Among the sectoral indices, on Wednesday the Nifty Bank index was the top loser of the day falling 246.75 points to settle at 31,824.90. The shares of IndusInd Bank, RBL Bank, State Bank of India (SBI) were the top contributers to the fall of the sectoral index.