Share Trading at a firm in Kolkata. (Express photo by Partha Paul)
Share/Stock Market, Sensex, Nifty Highlights: After falling for three consecutive days, the benchmark equity indices on the BSE and National Stock Exchange (NSE) settled 1 per cent higher on Friday led by a rally in the bank stocks.
The S&P BSE Sensex settled at 41,575.14, up 411.38 points or 1.00 per cent, while the broader Nifty 50 ended at 12,245.80, up 119.25 points or 0.98 per cent.
On the Sensex, gains were being led by Axis Bank, Power Grid Corporation of India, State Bank of India (SBI), ICICI Bank, Bharti Airtel and Reliance Industries (RIL).
On the sectoral front, the Nifty PSU Bank index on the NSE was the top gainer on Friday, after it surged 2.92 per cent led by Punjab & Sind Bank, Indian Overseas Bank (IOB), Bank of Baroda and Punjab National Bank. It was followed by the Nifty realty index which rose 1.61 per cent led by The Phoenix Mills and DLF.
In the broader market, the S&P BSE MidCap index settled at 14,929.22, up 128.59 points or 0.87 per cent, while the S&P BSE SmallCap gained 112.79 points or 0.84 per cent to end at 13,547.81.
(with inputs from agencies)
Rupee settles 4 paise down at 71.35 against US dollar.
Retail onion prices on Friday remained higher at up to Rs 150 per kg even as the imported supplies have started arriving to boost the domestic availability and check prices.
In metros, retail price of onion was ruling at Rs 120 /kg Kolkata, at Rs 102/kg in Delhi and Mumbai and at Rs 80/kg in Chennai, as per the data maintained by the consumer affairs ministry. Click here to read the entire report
"State-run banks helped market to trade higher after consecutive days of weakness. Another announcement of bond sale next week from the central bank lifted the financial stocks higher while positive sentiments in global markets on easing trade concerns fuelled a broad based rally. Investors to stay focused on continuity of government policies and given liquidity is solid, momentum is expected to shift from premium stocks to value stocks."
On the Sensex, gains were being led by Axis Bank, Power Grid Corporation of India, State Bank of India (SBI), ICICI Bank, Bharti Airtel and Reliance Industries (RIL).
The S&P BSE Sensex settled at 41,575.14, up 411.38 points or 1.00 per cent, while the broader Nifty 50 ended at 12,245.80, up 119.25 points or 0.98 per cent.
Silver futures on Friday slumped by Rs 236 to Rs 46,587 per kg as participants cut down their bets taking weak cues from overseas markets.
On the Multi Commodity Exchange, silver contracts for March delivery tumbled Rs 236, or 0.5 per cent, to Rs 46,587 per kg in a business turnover of 10,815 lots.
In the international market, silver prices fell 0.47 per cent to USD 17.91 an ounce in New York.
Traders said the fall in silver prices in futures trade was largely in line with a weak trend in precious metals in global markets.
(PTI)
Gold prices on Friday fell by Rs 52 to Rs 38,830 per 10 gram in futures trade as participants cut down their bets amid a weak global trend.
On the Multi Commodity Exchange, gold prices for delivery in February fell by Rs 52, or 0.13 per cent, to Rs 38,830 per 10 gram in a business turnover of 16,303 lots. The yellow metal for April delivery fell by Rs 66, or 0.17 per cent, to Rs 38,925 per 10 gram in 5,140 lots.
Analysts attributed the fall in prices to trimming of positions by investors, tracking a weak trend in global market.
Globally, gold was trading 0.07 per cent lower at USD 1,513.40 an ounce in New York.
(PTI)
Crude oil prices rose Rs 5 to Rs 4,408 per barrel on Friday as speculators created fresh positions amid positive trend in the spot market.
Analysts said fresh bets created by participants kept crude prices higher in futures trade.
On the Multi Commodity Exchange, crude for January delivery traded higher by Rs 5, or 0.11 per cent, at Rs 4,408 per barrel in 35,957 lots.
Globally, West Texas Intermediate crude oil was trading 0.39 per cent higher at USD 61.92 per barrel. Meanwhile, Brent crude, the international benchmark, rose 0.37 per cent to USD 68.17 per barrel in New York.
(PTI)
Nickel futures on Friday declined by Rs 6.70 to Rs 1,027.80 per kg due to reducing of positions by speculators amid sluggish demand in spot market.
On the Multi Commodity Exchange, nickel contracts for January delivery fell by Rs 6.70, or 0.65 per cent, at Rs 1,027.80 per kg with a business turnover of 1,544 lots.
Analysts said subdued demand in spot market mainly led to fall in nickel futures prices here.
(PTI)
Copper prices on Friday traded up by 0.06 per cent to Rs 445.15 per kg in futures trade on pick-up in spot demand.
On the Multi Commodity Exchange, copper contracts for delivery in January traded higher by 25 paise, or 0.06 per cent, to Rs 445.15 per kg in a business turnover of 4,946 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)
Oil prices rose on Friday, hitting three-month highs, as upbeat economic data from China and the United States indicated an end to the trade war between Washington and Beijing has restored confidence in the global growth.
Brent crude was up 29 cents, or 0.4 per cent, at $68.21 a barrel at 0903 GMT. The West Texas Intermediate was up 24 cents, or 0.4 per cent, at $61.92 a barrel.
(Reuters)
Asian shares scaled an 18-month high on Friday while oil prices stayed buoyant in a holiday-shortened week, as investor optimism improved on hopes a US-China trade deal would soon be signed.
Traders returned from their Christmas and Boxing Day break to digest comments from Beijing that it was in close contact with Washington about an initial trade agreement, shortly after US President Donald Trump talked up a signing ceremony for the recently struck Phase 1 trade deal.
In early European trade, the pan-region Euro Stoxx 50 futures added 0.4 per cent, German DAX futures rose 0.6 per cent while FTSE futures were up 0.5 per cent. In an indication of a positive start on Wall Street, the S&P 500 e-mini futures gained 0.12 per cent.
MSCI's broadest index of Asia-Pacific shares outside Japan jumped 0.7 per cent to 555.42, a level not seen since mid-2018. It is up more than 16 per cent so far this year. Japan's Nikkei was off 0.4 per cent, but on track for a near 19 per cent rise this year, matching the annual increase of 2017. Australia's benchmark index rose 0.4 per cent. Chinese shares gave up early gains with the blue-chip CSI300 down 0.1 per cent.
(Reuters)
Copper prices on Friday traded up by 0.06 per cent to Rs 445.15 per kg in futures trade on pick-up in spot demand.
On the Multi Commodity Exchange, copper contracts for delivery in January traded higher by 25 paise, or 0.06 per cent, to Rs 445.15 per kg in a business turnover of 4,946 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)
Shares of HG Infra Engineering zoomed almost 11 per cent on Friday after the company bagged a highway project worth Rs 522 crore in Haryana from the National Highways Authority of India (NHAI).
The company’s scrip rallied 10.35 per cent to Rs 269 on the BSE. On the NSE, it jumped 10.91 per cent to Rs 269.80. Click here to read the report
Coriander prices on Friday climbed Rs 167 to Rs 6,616 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 167, or 2.59 per cent, to Rs 6,616 per quintal with an open interest of 9,450 lots. Similarly, the spice for April delivery traded higher by Rs 257, or 3.71 per cent, at Rs 7,185 per quintal in 6,320 lots.
A firm trend in spot market and restricted supplies from producing regions pushed up coriander prices here, market analysts said.
(PTI)
Guar gum prices on Friday gained Rs 38 to Rs 7,745 per five quintal in futures trade as investors increased their holdings on spot demand.
Analysts said after tracking firm physical market trend, traders raised their bets which led to rise in guar gum prices.
On the National Commodity and Derivatives Exchange, guar gum delivery for January contracts jumped up by 0.49 per cent, or Rs 38, to Rs 7,745 per five quintal with an open interest of 43,935 lots. Likewise, the delivery of February contract surged by Rs 45, or 0.58 per cent, to Rs 7,848 per five quintal as open interest stood at 27,440 lots.
(PTI)
Cottonseed oil cake prices on Friday jumped by Rs 17 to Rs 2,254 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 17, or 0.76 per cent, to Rs 2,254 per quintal in 65,330 lots. Cottonseed oil cake contracts for February gained Rs 23, or 1.02 per cent, to Rs 2,275 per quintal in 41,140 lots.
Marketmen said raising of positions by participants amid rising demand from cattle-feed makers mainly influenced prices here.
(PTI)
Guar seed prices fell by Rs 8 to Rs 4,226 per 10 quintal in futures trade on Friday as participants reduced their holdings, in line with weak market trend.
Marketmen attributed the downward trend in guar seed futures to weak demand in spot market amid increasing supplies from growing regions.
On the National Commodity and Derivatives Exchange, guar seed contracts for January delivery fell by Rs 8, or 0.19 per cent, to Rs 4,226 per 10 quintal with an open interest of 76,720 lots. Similarly, guar seed contracts for February delivery shed Rs 2, or 0.05 per cent, to Rs 4,272 per 10 quintal with an open interest of 29,600 lots.
(PTI)
Mustard seed prices on Friday dropped by Rs 9 to Rs 4,631 per quintal in futures trade 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 9, or 0.19 per cent, to Rs 4,631 per quintal in a business turnover of 21,310 lots. Mustard seed contracts for February delivery declined by Rs 19, or 0.41 per cent, to Rs 4,575 per quintal in a business turnover of 3,840 lots.
Marketmen said offloading of positions by participants following a weak trend in spot market led to fall in mustard seed prices.
(PTI)
Soybean prices fell by Rs 20 to Rs 4,434 per quintal in futures market on Friday 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 20, or 0.45 per cent, to Rs 4,434 per quintal with an open interest of 1,27,800 lots.
Soybean prices fell in futures trade mostly due to reduction in exposure by participants, marketmen said.
(PTI)
Refined soya oil prices fell by Rs 4.6 to Rs 931.4 per 10 kg in futures trade on Friday as speculators reduced holdings amid subdued demand in spot market.
On the National Commodity and Derivatives Exchange, refined soya oil for January delivery declined by Rs 4.6, or 0.49 per cent, to Rs 931.4 per 10 kg in 42,230 lots. Refined soya oil contracts for February dropped by Rs 4.2, or 0.45 per cent, to Rs 931 per 10 kg in 49,720 lots.
Market analysts said cutting down of positions by participants against ample stocks mainly influenced prices.
(PTI)
Shares of Indian Overseas Bank (IOB) surged as much as 14.12 per cent on the BSE in the intraday trade on Friday after the public sector lender announced that central government sanctioned a fresh capital infusion of Rs 4,360 crore in the bank.
The stock price of IOB rose as high as Rs 12.85 apiece, up 14.12 per cent on the BSE and 13.72 per cent on the National Stock Exchange (NSE). Click here to read the complete story
As part of its ‘Operation Twist’, the Reserve Bank of India (RBI) on Thursday announced the simultaneous purchase and sale of long-tenor and short-tenor government securities (G-secs), respectively, worth Rs 10,000 crore each, which will take place on Monday.
The open market operations (OMOs) to be conducted by the banking regulator will be the second in the series as was expected by market participants, who anticipate at least Rs 50,000 crore of OMOs. Click here to read the story
Even as the government pursued aggressive disinvestment in the last five years, this year was characterised by a clear shift towards privatisation of key state-owned companies, with the Centre planning to exit them fully along with transfer of management control. Going forward, privatisation along with minority stake sales will impart momentum to the disinvestment programme. This has become crucial in balancing the fiscal position of the government in the wake of slack in tax revenues.
The government has cleared plans for complete sale of its equity in BPCL, Shipping Corporation of India Ltd and Air India, while approving majority stake sale in Container Corporation of India Ltd (CONCOR) along with transfer of management control. It has also given in-principle approval to pare down its stake in select central public sector enterprises (CPSEs) to below 51 per cent while retaining management control. Click here to read the report
Reflecting the weakness in the broader market and weak investor sentiment in companies beyond the bluechip stocks, the Indian primary market witnessed lowest activity in the last five years. Fund raising through initial public offering (IPO) in 2019 stood at Rs 12,362 crore, lowest since 2014 when companies raised Rs 1,201 crore through IPOs.
According to data collated by Prime Database, while the amount raised through IPOs in 2019 was down 60 per cent from Rs 30,959 crore raised in 2018, it is significantly down from Rs 67,147 crore raised in 2017. The year saw only 16 initial public offerings (IPOs) as against 24 in 2018 and 36 in 2017. Click here to read the story
The shares of Allahabad Bank surged 10.99 per cent to Rs 19.70 on the BSE and the National Stock Exchange (NSE) in the morning trade on Friday after the public sector bank announced fresh capital infusion of Rs 2,153.00 crore.
In a filing to the stock exchanges on Thursday, Allahabad Bank said that it was informed that the President of India has sanctioned the release of fresh capital infusion fund of Rs 2,153.00 crore towards the contribution of the central government in the preferential allotment of equity shares of the bank during the financial year 2019-20. Click here to read the story
Foreign portfolio investors (FPIs) investments in Indian corporate bonds have hit over a two-and-a-half year low after falling below the $27 billion-mark in December. FPIs have utilised only 58.36 per cent of the investment limits available, NSDL data shows.
Experts indicate that after the NBFC default crisis, foreign investors are avoiding exposure to papers that are not of high quality. On top of it, liquidity still remains a concern in the Indian corporate bond market. Click here to read the story
The Securities and Exchange Board of India (Sebi) Thursday, in two separate orders, imposed a penalty of Rs 25 lakh each on ICRA and CARE Ratings over ratings given to the non-convertible debentures (NCDs) of IL&FS.
The regulator said in its order that despite the declining financial indicators of IL&FS, the rating agencies failed to intervene on time. The rating agencies continued to assign highest rating to the NCDs issued by IL&FS, despite its stressed balance sheet, asset-liability mismatch and negative debt to equity ratio. Click here to read the story
A stock swap offer to help shareholders of billionaire Mukesh Ambani’s unlisted retail business monetize their investment has valued the unit at $34 billion.
Share owners in Reliance Retail Ltd. can exchange four shares for one of its listed parent Reliance Industries Ltd., according to a so-called scheme of arrangement posted on the group’s website. With Reliance’s market capitalization at 9.6 trillion rupees ($135 billion), the share swap values the subsidiary at 2.4 trillion rupees, according to Bloomberg’s calculation. Click here to read the complete report
The Indian rupee opened on a positive note and rose 8 paise to 71.23 against the US dollar in early trade on Friday tracking gains in domestic equity market, even as crude oil prices firmed up.
Forex traders positive opening in domestic equities supported the rupee, while steady rise in crude oil prices and foreign fund outflows weighed on the local unit.
At the interbank foreign exchange, the rupee opened at 71.26 then rose to 71.23 against the dollar, showing a rise of 8 paise over its previous closing. The Indian rupee on Thursday had closed at 71.31 against the dollar.
(PTI)
On the Sensex, gains in the early trade were led by SBI, Powergrid, Bharti Airtel, Axis Bank and Reliance Industries (RIL). Among the losers were TCS, Hindustan Unilever, Tata Steel and Titan.
At 9:16 am, the S&P BSE Sensex was at 41,304.38, up 140.62 points or 0.34 per cent, while the broader Nifty 50 was trading higher by 45.2 points or 0.37 per cent at 12,171.75.