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Tuesday, January 21, 2020

Shares, Commodity, Rupee Market Highlights: Sensex cracks 334 points, Nifty ends at 11,922 weighed by banks

Share Market, Sensex, Nifty, BSE, NSE Share Price Highlights: All that happened in the markets on Friday.

By: Express Web Desk | New Delhi | Updated: December 6, 2019 5:23:38 pm
Topline equity indices ended nearly a per cent lower on Friday. (Image source: Getty/Thinkstock)

Share Market, Sensex, Nifty Highlights: The frontline equity indices on the National Stock Exchange (NSE) and the BSE ended lower for the second consecutive day on Friday, slipping nearly 1 per cent on the back of a selloff in the banking and automobile stocks.

The S&P BSE Sensex settled at 40,445.15, down 334.44 points or 0.82 per cent, while the Nifty 50 index lost 96.90 points or 0.81 per cent to end at 11,921.50 on Friday.

Yes Bank, State Bank of India (SBI), IndusInd Bank, Tata Motors and HDFC were the top losers of the day on the Sensex on Friday, while Kotak Mahindra Bank and Tata Steel were the top gainers.

In the broader markets, the S&P BSE MidCap index settled at 14,667.37, down 187.67 points or 1.26 per cent and the S&P BSE SmallCap index closed at 13,339.35, down 115.88 points or 0.86 per cent.

On Friday, all the sectoral indices on the NSE ended in the negative territory. The Nifty PSU Bank index was the worst performer in the pack as it crashed 4.39 per cent dragged by Central Bank of India, Union Bank of India and Bank of Baroda.

Rupee

The rupee settled higher by 9 paise at 71.20 against US dollar on Friday.

Crude oil

Brent futures were down 3 cents at $63.36 by 0950 GMT and West Texas Intermediate oil futures fell 9 cents to $58.34 a barrel.

(with inputs from agencies)

Live Blog

Here are the market highlights:

Highlights

    17:20 (IST)06 Dec 2019
    Rupee close on Friday

    The rupee settles higher by 9 paise at 71.20 against US dollar.

    16:03 (IST)06 Dec 2019
    Vinod Nair, Head of Research Geojit Financial Services on Friday's equity market movement

    "Clouds over economic growth outlook and premium valuation influenced investors to stay away from rate sensitive stocks. While rising 10yr yield due to spike in inflation and potential slip in fiscal path may result near term consolidation in the market."

    15:44 (IST)06 Dec 2019
    Sensex: Gainers and losers of the day

    Yes Bank, State Bank of India (SBI), IndusInd Bank, Tata Motors and HDFC were the top losers of the day on the S&P BSE Sensex. On the other hand Kotak Mahindra Bank and Tata Steel were the top gainers:

    Source: BSE
    15:37 (IST)06 Dec 2019
    Equity markets at close on Friday

    The S&P BSE Sensex settled at 40,445.15, down 334.44 points or 0.82 per cent, while the Nifty 50 index lost 96.90 points or 0.81 per cent to end at 11,921.50 on Friday.

    15:28 (IST)06 Dec 2019
    Soybean futures rise on firm demand

    Soybean prices on Friday rose by Rs 40 to Rs 4,138 per quintal in futures market as traders created fresh positions supported by a strong spot demand.

    On the National Commodity and Derivatives Exchange, soybean for delivery in December was up by Rs 40, or 0.98 per cent, to Rs 4,138 per quintal with an open interest of 46,060 lots. Soybean for delivery in January rose by Rs 42, or 1.02 per cent, to Rs 4,172 per quintal having an open interest of 1,60,805 lots.

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

    (PTI)

    15:26 (IST)06 Dec 2019
    Mustard seed futures rise amid limited supplies

    Mustard seed prices on Friday rose by Rs 2 to Rs 4,390 per quintal in futures trade as speculators raised their bets amid limited supplies.

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

    On the National Commodity and Derivatives Exchange, mustard seed for delivery in December rose Rs 2, or 0.05 per cent, to Rs 4,390 per quintal with an open interest of 18,660 lots. Similarly, the delivery for January gained Rs 3, or 0.07 per cent, to Rs 4,429 per quintal with an open interest of 9,990 lots.

    (PTI)

    15:25 (IST)06 Dec 2019
    Guar gum futures up on spot demand

    Guar gum prices on Friday gained Rs 30 to Rs 7,327 per five quintal in futures trade as investors increased their holdings on spot demand.

    Analysts said tracking firm physical market trend traders opted to raise their bets which led to rise in guar gum prices.

    On the National Commodity and Derivatives Exchange, guar gum delivery for December contracts jumped up by Rs 30, to Rs 7,327 per five quintal with an open interest of 12,540 lots. Likewise, the delivery of January contract surged by Rs 35, to Rs 7,425 per five quintal as open interest stood at 54,515 lots.

    (PTI)

    15:25 (IST)06 Dec 2019
    Coriander futures slip on low demand

    Coriander prices on Friday fell by Rs 19 to Rs 6,771 per quintal in futures trade as speculators reduced their positions amid weak demand at spot market.

    On the Multi Commodity Exchange, coriander contracts for December fell by Rs 19, or 0.28 per cent, to Rs 6,771 per quintal in 6,370 lots. Similarly, coriander contracts for January delivery declined by Rs 15, or 0.23 per cent, to Rs 6,600 per quintal in 6,170 lots.

    Market analysts said subdued demand by speculators at spot market mainly led to decline in coriander future prices.

    (PTI)

    15:21 (IST)06 Dec 2019
    Nickel futures rise on strong demand

    Nickel prices on Friday moved up by Rs 9.40 to Rs 993 per kg in futures trade as speculators enlarged their positions driven by firm demand from alloy-makers in spot market.

    On the Multi Commodity Exchange, nickel contracts for December delivery gained Rs 9.40, or 0.96 per cent, to Rs 993 per kg in a business turnover of 2,190 lots. Similarly, the metal for delivery in January traded up by Rs 7.80, or 0.78 per cent at Rs 991.10 per kg in a business turnover of 27 lots.

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

    (PTI)

    15:21 (IST)06 Dec 2019
    Copper futures up on spot demand

    Copper prices on Friday traded up by Rs 1.75 at Rs 432.35 per kg in futures trade on pick-up in spot demand.

    On the Multi Commodity Exchange, copper contracts for delivery in December traded higher by Rs 1.75, or 0.41 per cent, to Rs 432.35 per kg in a business turnover of 1,807 lots. Similarly, the metal for delivery in Janaury edged up by Rs 1.70, or 0.40 per cent, to Rs 437 per kg in 28 lots.

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

    (PTI)

    14:30 (IST)06 Dec 2019
    Maruti Suzuki recalls 63,493 units of Ciaz, Ertiga, XL6 to fix faulty part

    Maruti Suzuki India (MSI) on Friday said it is recalling 63,493 units of petrol smart hybrid (SHVS) variants of Ciaz, Ertiga and XL6 models to rectify faulty motor generator unit (MGU).

    “The company will inspect 63,493 vehicles of petrol SHVS of Ciaz, Ertiga and XL6 for a possible issue with the Motor Generator Unit (MGU),” MSI said in a statement. Click here to read the report

    14:11 (IST)06 Dec 2019
    Silver futures slump Rs 168 to Rs 44,442 per kg

    Silver futures on Friday slumped by Rs 168 to Rs 44,442 per kg as participants cut down their bets taking weak cues from overseas markets.

    On the Multi Commodity Exchange, silver contracts for December delivery tumbled Rs 168, or 0.38 per cent, to Rs 44,442 per kg in a business turnover of 2,091 lots.

    In the international market, silver prices fell 0.43 per cent to USD 16.99 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)

    14:08 (IST)06 Dec 2019
    Gold futures slip Rs 111 to Rs 37,974 per 10 gm

    Gold prices on Friday fell by Rs 111 to Rs 37,974 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 111, or 0.29 per cent, to Rs 37,974 per 10 gram in a business turnover of 1,163 lots. The yellow metal for April delivery fell by Rs 84, or 0.22 per cent, to Rs 38,035 per 10 gram in 46 lots.

    Analysts attributed the fall in prices to trimming of positions by investors, tracking a weak trend in global market.

    Globally, gold was trading 0.20 per cent lower at USD 1,480.20 an ounce in New York.

    (PTI)

    13:58 (IST)06 Dec 2019
    Vodafone Idea tumbles 9% on Birla saying may have to ‘shut shop’ if no relief given

    Vodafone Idea shares crashed about 9 per cent on Friday, spooked by company’s chairman Kumar Mangalam Birla statement that the telco “will have to shut shop” in the absence of government relief.

    Its stock was trading 8.89 per cent lower at Rs 6.66 apiece on the BSE. On the NSE, the scrip fell 8.22 per cent to Rs 6.70 a unit. Click here to read the report

    13:43 (IST)06 Dec 2019
    Crude oil futures slip on weak global cues

    Crude oil futures on Friday fell by Rs 2 to Rs 4,159 per barrel after participants reduced positions, tracking a weak trend in global markets.

    On the Multi Commodity Exchange, crude oil prices for December delivery dropped by Rs 2, or 0.05 per cent, to Rs 4,159 per barrel with a business volume of 14,688 lots. Similarly, crude oil for January delivery was quoting lower by Rs 4, or 0.10 per cent, at Rs 4,163 per barrel with an open interest of 394 lots.

    The fall in crude oil futures was mostly due to trimming of positions by traders, in line with weak global cues, analysts said.

    Globally, West Texas Intermediate crude oil was trading 0.10 per cent lower at USD 58.37 per barrel, while the international benchmark Brent Crude traded down by 0.22 per cent at USD 63.25 per barrel in New York.

    (PTI)

    13:41 (IST)06 Dec 2019
    Gold prices slips Rs 41 per 10 gm, silver gains Rs 85 a kg

    Bullion prices in the benchmark markets were mixed on Friday with prices of gold slipping by Rs 41 while that of silver rising by Rs 85.

    The opening price for gold of 999 purity was Rs 38,140 per 10 grams, down Rs 41 from Thursday's closing price of Rs 38,181, while that of 995 purity gold was Rs 37,987, down Rs 41 from Rs 38,028 on Thursday, according to the data published by India Bullion and Jewellers Association (IBJA).

    Price of silver, however, gained by Rs 85 in the early trade on Friday. The precious metal of 999 purity was at Rs 44,065 a kg, up Rs 85 from Rs 43,980 on Thursday, the IBJA data showed.

    13:31 (IST)06 Dec 2019
    Global market update

    Asian stocks gained on Friday as investors took heart from U.S. President Donald Trump saying trade talks with China were "moving right along", and US oil prices sat near 2-1/2-month highs after OPEC and other producers agreed to cut output.

    MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.4 per cent and Japan's Nikkei added 0.2 per cent. Australian shares rose 0.4 per cent and South Korea's Kospi climbed 0.9 per cent, while Hong Kong's Hang Seng gaining 0.7 per cent.

    13:03 (IST)06 Dec 2019
    Oil companies’ shares fall on OPEC output cut buzz

    Shares of oil and gas companies fell on Friday amid reports that OPEC and other major producers will announce fresh output cuts.

    Oil and Natural Gas Corporation’s shares drop 1.39 per cent to Rs 127.35 per unit on the BSE. Hindustan Petroleum Corporation Ltd (HPCL) saw its stock decline by 0.47 per cent to trade at Rs 264.70 a unit.

    Shares of Indian Oil Corporation Ltd (IOCL) were down by 0.23 per cent to Rs 125.70 apiece. Bharat Petroleum Corporation Ltd (BPCL) scrip slipped 0.20 per cent to Rs 490.50. Shares of Petronet LNG saw a dip of 0.17 per cent to Rs 271.65. Click here to read the report

    12:37 (IST)06 Dec 2019
    Petrol and Diesel prices on Friday

    Delhi:

    Petrol- 74.86 per litre
    Diesel- 65.78 per litre

    Kolkata:

    Petrol- 77.54 per litre
    Diesel- 68.19 per litre

    Mumbai:

    Petrol- 80.51 per litre
    Diesel- 69.00 per litre

    Chennai:

    Petrol- 77.83 per litre
    Diesel- 69.53 per litre

    Bengaluru:

    Petrol- 77.42 per litre
    Diesel- 68.02 per litre

    Source: IOCL

    12:25 (IST)06 Dec 2019
    Vodafone Idea will shut in absence of government relief: Kumar Mangalam Birla

    Vodafone Idea will have to be closed down if the government doesn’t provide relief that the company has sought, its chairman Kumar Mangalam Birla said on Friday.

    “We will have to shut shop,” Birla said on a query about the course of action for the company going ahead in the absence of government relief. Click here to read the report

    12:02 (IST)06 Dec 2019
    RBL Bank raises Rs 2,025 crore through QIP

    RBL Bank on Friday said it has raised Rs 2,025.27 crore from institutional investors through a qualified institutional placement offering (QIP) and will utilise the proceeds to fund business growth.

    In a statement, RBL Bank said “it has successfully concluded the QIP of Rs 2,025 crore at an issue price of Rs 351 per share (including premium of Rs 341) pursuant to the allotment of 5.77 crore equity shares.”

    QIP is a tool used by listed companies to sell shares, debentures, or any other security, other than warrants that are convertible into stocks, to qualified institutional buyers such as mutual funds and foreign institutions. Click here to read the report

    11:52 (IST)06 Dec 2019
    Govt challenges NCLT order on making Ministry of Corporate Affairs party in insolvency cases

    The central government on Thursday moved the National Company Law Appellate Tribunal (NCLAT) against a National Company Law Tribunal (NCLT) order which directed that the Ministry of Corporate Affairs (MCA), through its secretary, and Union of India be made a respondent party in all the insolvency and company law cases filed across the country. The appellate tribunal has agreed to hear the case on Friday.

    The Principal Bench of NCLT had, on November 22, directed that the MCA, as well as the central government, be made a respondent party in all cases of insolvency as well as Companies Act filed across the country. Click here to read the report

    11:31 (IST)06 Dec 2019
    Yes Bank stock slumps over 5 per cent on ratings downgrade

    Yes Bank shares tumbled over 5 per cent in morning deals on Friday, hit by ratings downgrade by Moody’s Investors Service.

    The lender’s shares were trading at 58.75 apiece, down 5.39 per cent on the BSE. Likewise, the stock dived 5.23 per cent to Rs 58.85 per unit on the NSE.

    Global ratings agency Moody’s Investors Service on Thursday downgraded the ratings on the private sector lender, with a negative outlook, expressing concerns on its asset quality troubles and the shrinking capital buffers. Click here to read the report

    11:08 (IST)06 Dec 2019
    India’s economy is sputtering, but its stock market powers ahead

    India’s economy may be faltering, but its $2.1 trillion stock market has been powering to new highs as foreign investors pile into country’s shares, betting the worst may have already passed.

    Economic growth is at the lowest since before Prime Minister Narendra Modi came to power in 2014. The economy expanded 4.5% in July-September, slowing for a sixth straight quarter as deteriorating local consumption, troubled banks and a weak global outlook all took their toll. Click here to read the entire report

    10:57 (IST)06 Dec 2019
    We stand to support Kia Motors all through: Andhra Pradesh CM

    Andhra Pradesh Chief Minister YS Jagan Mohan Reddy Thursday assured Korean auto manufacturer Kia Motors that his government would strongly support the company.

    “I assure the Kia management team which is functioning from this plant that we would stand to support Kia Motors all through. You will have a very pro-active government … you can just reach out to us and we would extend every possible help whatsoever is required to make this plant successful. I wish you all the very best and thank you for giving us this wonderful plant in Andhra Pradesh,’’ he said, speaking after inaugurating the fully functional facility at Penukonda and Erramanchi villages in Anantapur district. Click here to read the report

    10:37 (IST)06 Dec 2019
    NCLAT questions calls for second probe into former IL&FS auditors

    The National Company Law Appellate Tribunal (NCLAT) on Thursday questioned the government’s call for a second parallel probe into the role of former auditors of beleaguered Infrastructure Leasing and Financial Services (IL&FS), while one by the Serious Fraud Investigation Office (SFIO) was already on and had not been concluded.

    Hearing a plea moved by auditors Deloitte Haskins & Sells LLP and B S R Associates LLP, a two-member Bench led by Chairperson Justice SJ Mukhopadhaya observed that only if the National Company Law Tribunal (NCLT) came to a definite conclusion that there was a fraud, it could recommend initiation of inspector rank-led probe into the auditors’ role in IL&FS. Click here to read the report

    10:07 (IST)06 Dec 2019
    M&M buys 36.63% stake in Meru for Rs 44.7 crore

    Mahindra & Mahindra (M&M) on Thursday acquired 36.63 per cent stake in cab-operator Meru in an all-cash deal for Rs 44.71 crore, in its bid to tap the growing shared mobility space.

    The utility vehicle makers plans to acquire 55 per cent stake in multiple tranches and the investment gives it the right to appoint majority of directors on Meru’s board. On August 31, M&M had said it would buy up to 55 per cent stake in tranches. Click here to read the report

    10:05 (IST)06 Dec 2019
    Exposure norms of urban co-operative banks to be tightened

    The RBI has decided to tighten exposure norms for single and group/interconnected borrowers of primary urban co-operative banks (UCBs), in order to reduce concentration risk in exposures and strengthen the role of UCBs in promoting financial inclusion.

    “These measures are expected to strengthen the resilience and sustainability of UCBs and protect the interest of depositors,” the RBI said Thursday. The move follows the surfacing of the PMC Bank scam, where almost 70 per cent of the bank’s funds were lent to the HDIL Group of the Wadhawans. Click here to read the report

    09:48 (IST)06 Dec 2019
    Rupee opens flat at 71.30 against USD in early trade

    The Indian rupee opened on a steady note at 71.30 against the US dollar in early trade on Friday, a day after the the Reserve Bank of India kept key policy rate unchanged and decided to continue with its accommodative stance to support the economy.

    Forex traders said, the domestic unit was trading in a narrow range as investors are awaiting fresh cues on the US-China trade front.

    At the interbank foreign exchange the rupee opened at 71.30. The local unit fluctuated between a high of 71.27 and a low of 71.34 in early trade. On Thursday, the rupee had settled for the day at 71.29 against the US dollar.

    (PTI)

    09:46 (IST)06 Dec 2019
    NSE sectoral indices update

    Among the sectoral indices on National Stock Exchange (NSE), the Nifty Metal and the Nifty Pharma index extended on their opening gains and were up nearly 1 per cent each. The Nifty Bank index too has risen over 0.4 per cent in the early morning trade:

    Source: NSE
    09:25 (IST)06 Dec 2019
    Sensex: Gainers and losers in early trade

    Tata Steel, Vedanta, Sun Pharmaceutical Industries, ICICI Bank and HDFC Bank are among the top gainers in the opening deals, while Yes Bank, State Bank of India (SBI) are the top losers:

    Source: BSE
    09:20 (IST)06 Dec 2019
    Equity markets at open

    At 9:17 am, the S&P BSE Sensex was up 110.62 points or 0.27 per cent at 40,890.21, while the broader Nifty 50 was at 12,044.20, up 25.80 points or 0.21 per cent.

    09:17 (IST)06 Dec 2019
    Crude oil market update

    Oil slipped in early Asian trade on Friday, with US crude moving further away from a two-month high after OPEC agreed to increase output curbs in early 2020 but failed to promise further steps after March.

    Brent futures were down 21 cents, or 0.3 per cent, at $63.18 by 0258 GMT. West Texas Intermediate oil futures fell 14 cents, or 0.2 per cent, to $58.29 a barrel. They hit $59.12 a barrel on Thursday, the highest since the end of September.

    (Reuters)

    09:14 (IST)06 Dec 2019
    Global Market update

    Asian stocks gained on Friday as investors took heart from US President Donald Trump saying trade talks with China were “moving right along”, and US oil prices sat near 2-1/2-month highs after OPEC and other producers agreed to cut output.

    MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.5 per cent and Japan's Nikkei added 0.3 per cent. Australian shares rose 0.2 per cent and South Korea's Kospi climbed 0.8 per cent, while China's Shanghai Composite and Hong Kong's Hang Seng indexes gaining 0.1 per cent and 0.9 per cent, respectively.

    (Reuters)

    After swinging between gains and losses, the 30-share BSE Sensex finally ended 70.70 points or 0.17 per cent lower at 40,779.59 on Thursday. Similarly, the 50-scrip NSE Nifty settled with a loss of 24.80 points or 0.21 per cent at 12,018.40.

    On the Sensex chart, Bharti Airtel, Tata Steel, IndusInd Bank, HeroMoto Corp and Tata Motors were among the major laggards, declining up to 2.96 per cent.