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Wednesday, January 29, 2020

Shares, Commodity, Rupee Market Highlights: Sensex and Nifty snap out of 2-day losing streak to end a tad higher

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

By: Express Web Desk | New Delhi | Updated: December 9, 2019 5:24:30 pm
Indices ended marginally higher on Monday. (Representational image)

Share Market, Sensex, Nifty Highlights: After a volatile session of trade, the topline equity indices on the BSE and National Stock Exchange (NSE) snapped out of their two-day losing streak and ended slightly higher on Monday.

The S&P BSE Sensex settled at 40,487.43, up 42.28 points or 0.10 per cent, while the Nifty 50 rose by 15.45 points or 0.13 per cent to end at 11,936.95.

HDFC, Axis Bank, Maruti Suzuki India (MSI) and Reliance Industries (RIL) were the top gainers in the Sensex pack, while Tata Consultancy Services (TCS), HCL Technologies, Larsen & Toubro, (L&T) and IndusInd Bank were the top losers.

Among sectoral indices on the NSE, the Nifty Auto index was the biggest gainer of the day after it rose 0.80 per cent on Monday driven by gains in the shares of MSI, MRF and Ashok Leyland. The auto index was followed by Nifty Metal that rose 0.55 per cent led by Steel Authority of India (SAIL), APL Apollo Tubes and JSW Steel.

Broader market indices settled on a mixed note on Monday. The S&P BSE MidCap index rose 15.93 points or 0.11 per cent to end at 14,683.30, while on the other hand, the S&P BSE SmallCap index settled at 13,280.50, down 58.85 points or 0.44 per cent.

Rupee

The rupee pared initial losses and settled 16 paise up at 71.04 against the US dollar on Monday amid softening crude oil prices and weakening of the greenback vis-a-vis other currencies overseas.

Crude oil

Brent futures were down 44 cents, or 0.68 per cent, at $63.95 per barrel by 0935 GMT. West Texas Intermediate oil futures were down 48 cents, or 0.81 per cent to $58.72 a barrel.

(with inputs from agencies)

Live Blog

Here's everything that happened in the world of stocks, commodities and money markets on Monday:

Highlights

    17:20 (IST)09 Dec 2019
    Rupee at close on Monday

    The rupee pared initial losses and settled 16 paise up at 71.04 against the US dollar on Monday amid softening crude oil prices and weakening of the greenback vis-a-vis other currencies overseas.

    (PTI)

    16:12 (IST)09 Dec 2019
    Vinod Nair, Head of Research at Geojit Financial Services on Monday's market movement

    "Market was range bound as investors are closely watching the upcoming economic macros like CPI inflation and IIP data for any signs of progress in Govt’s effort to revive the economy. FIIs are likely to turn risk averse in domestic market as strong US job data, progress in trade talks & expectation of status quo policy from US FED will add impetus to global market."

    16:05 (IST)09 Dec 2019
    Sensex: Gainers and losers of the day

    HDFC, Axis Bank, Maruti Suzuki India (MSI) and Reliance Industries (RIL) were the top gainers in the Sensex pack, while Tata Consultancy Services (TCS), HCL Technologies, Larsen & Toubro, (L&T) and IndusInd Bank were the top losers.

    Source: BSE
    15:37 (IST)09 Dec 2019
    Equity markets at close on Monday

    The S&P BSE Sensex settled at 40,487.43, up 42.28 points or 0.10 per cent, while the Nifty 50 rose by 15.45 points or 0.13 per cent to end at 11,936.95.

    15:19 (IST)09 Dec 2019
    Recent cut in corporate tax rate was done to boost investments: CEA

    Chief Economic Adviser KV Subramanian on Monday said private investment is key to economic growth and the recent cut in corporate tax rate was done to boost investments.

    “Private investment is the driver of economic growth. Steps that we are taking, be it corporate tax rate cut, be it code on wages and industrial relations, is to try and create a more favourable environment for investment,” Subramanian said at the FICCI Young Leaders Summit here. Click here to read the report

    15:02 (IST)09 Dec 2019
    Aluminium futures soften on subdued demand

    Aluminium prices on Monday fell 50 paise to Rs 132.75 per kg in futures market as participants trimmed their positions amid a weak trend in spot market.

    On the Multi Commodity Exchange, aluminium for delivery in December declined by 50 paise, or 0.38 per cent, to Rs 132.75 per kg in 1,699 lots.

    Analysts said cutting down of positions by participants on easing demand from consuming industries in physical market mainly kept aluminium prices lower here.

    (PTI)

    15:01 (IST)09 Dec 2019
    Nickel futures fall on subdued demand

    Nickel futures on Monday declined by Rs 17.20 to Rs 980.20 per kg due to reducing of positions by investors amid sluggish demand in spot market.

    On the Multi Commodity Exchange, nickel contracts for December delivery fell by Rs 17.20, or 1.72 per cent, to Rs 980.20 per kg with a business turnover of 1,815 lots. Nickel contracts for January delivery traded lower by Rs 16.50, or 1.66 per cent, at Rs 976.00 per kg in 142 lots.

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

    (PTI)

    14:59 (IST)09 Dec 2019
    Copper futures down on weak global cues

    Copper prices on Monday drifted 0.25 per cent lower to Rs 437 per kg in futures trade as speculators reduced exposure, tracking a weak trend overseas.

    On the Multi Commodity Exchange, copper for December delivery fell Rs 1.10, or 0.25 per cent, to Rs 437 per kg in a business turnover of 5,871 lots. Similarly, the metal for January delivery traded lower by similar margins to Rs 441.35 per kg in 470 lots.

    (PTI)

    14:57 (IST)09 Dec 2019
    Silver futures rise on fresh bets

    Silver futures on Monday advanced by Rs 51 to Rs 43,159 per kg as investors raised their positions supported by positive global trend.

    Silver contracts to be delivered in March was trading higher by 0.12 per cent, or Rs 51, to Rs 43,159 per kg in 14,524 lots on the Multi Commodity Exchange. Similarly, the white metal for delivery in May next year traded higher by Rs 13, or 0.03 per cent, at Rs 44,063 per kg in a business turnover of 233 lots.

    In the international market, silver was 0.36 per cent up at USD 16.66 an ounce in New York.

    (PTI)

    14:55 (IST)09 Dec 2019
    Crude oil futures slip on weak global cues

    Crude oil futures fell by Rs 18 to Rs 4,188 per barrel on Monday after participants reduced positions amid a weak trend in global markets.

    On the Multi Commodity Exchange, crude oil for delivery in December fell by Rs 18, or 0.43 per cent, to Rs 4,188 per barrel with a business volume of 26,074 lots.

    Marketmen said the fall in crude oil futures was mostly due to trimming of positions by traders in tandem with a weak trend overseas.

    Globally, West Texas Intermediate crude oil was trading down by 0.66 per cent to USD 58.81 per barrel while Brent Crude, the international benchmark fell 0.57 per cent to trade at USD 64.02 a barrel.

    (PTI)

    14:54 (IST)09 Dec 2019
    Gold futures slip Rs 40 to Rs 37,659 per 10 gm

    Gold prices on Monday fell Rs 40 to Rs 37,659 per 10 gram in futures trade as participants cut down their bets amid weak demand in spot market.

    On the Multi Commodity Exchange, gold prices for delivery in February fell by Rs 40, or 0.11 per cent, to Rs 37,659 per 10 gram in a business turnover of 16,598 lots. The yellow metal for April delivery plunged Rs 16, or 0.04 per cent, to Rs 37,700 per 10 gram in 2,131 lots.

    Meanwhile, globally, gold was trading 0.08 per cent up at USD 1,466.20 an ounce in New York.

    (PTI)

    14:53 (IST)09 Dec 2019
    Soybean futures strengthen on spot demand

    Soybean prices on Monday rose by Rs 32 to Rs 4,146 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 32, or 0.78 per cent, to Rs 4,146 per quintal with an open interest of 38,300 lots. Soybean for delivery in January rose by Rs 36, or 0.87 per cent, to Rs 4,148 per quintal having an open interest of 1,65,805 lots.

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

    (PTI)

    14:07 (IST)09 Dec 2019
    Coriander futures gain on firm demand

    Coriander prices on Monday gained 0.86 per cent to Rs 6,664 per quintal in futures market as participants built up fresh positions on firm spot demand.

    Besides, tight stocks from restricted arrivals in major growing belts aided the rally in coriander futures.

    On the National Commodity and Derivatives Exchange, coriander for December delivery rose by Rs 58, or 0.86 per cent, to Rs 6,664 per quintal with an open interest of 5,960 lots.

    (PTI)

    14:01 (IST)09 Dec 2019
    Tata Motors-owned Jaguar Land Rover sales fall 3.4 per cent in November

    Tata Motors-owned Jaguar Land Rover (JLR) on Monday reported 3.4 per cent decline in total retail sales at 46,542 units in November as compared to the year-ago period.

    The sales of Jaguar brand were at 11,464 units during the month, down 23.1 per cent per cent from November 2018, Tata Motors said in a BSE filing. Click here to read the complete story

    13:46 (IST)09 Dec 2019
    Guar gum futures fall nearly on sluggish demand

    Guar gum prices on Monday declined by Rs 87 to Rs 7,248 per five quintal in futures trade as traders offloaded their positions amid subdued demand.

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

    On the National Commodity and Derivatives Exchange, guar gum contracts for December delivery slipped by Rs 87, or 1.19 per cent, to Rs 7,248 per five quintal in 10,995 lots. Guar gum contracts for January delivery eased by Rs 86, or 1.16 per cent, to Rs 7,354 per five quintal in 56,025 lots.

    (PTI)

    13:42 (IST)09 Dec 2019
    Global crude oil market update

    Oil prices fell on Monday after data showed that Chinese exports declined for a fourth straight month, sending shivers through a market already concerned about damage being done to global demand by the Sino-US trade war.

    Brent futures were down 21 cents, or 0.3 per cent, at $64.18 per barrel by 0731 GMT. West Texas Intermediate oil futures were down 30 cents, or 0.5 per cent to $58.90 a barrel.

    (Reuters)

    13:38 (IST)09 Dec 2019
    Gold prices slip up to Rs 385 per 10 gm, silver cracks Rs 895 a kg

    Bullion prices in the benchmark markets crashed on Monday with prices of gold declining by up to Rs 385 while that of silver falling Rs 895.

    The opening price for gold of 999 purity was Rs 37,790 per 10 grams, down Rs 385 from Friday's closing price of Rs 38,175, while that of 995 purity gold was Rs 37,639, down Rs 383 from Rs 38,022 on Friday, according to the data published by India Bullion and Jewellers Association (IBJA).

    Price of silver too slipped by Rs 895 in the early trade on Monday. The precious metal of 999 purity was at Rs 43,220 a kg, down Rs 895 from Rs 44,115 on Friday, the IBJA data showed.

    13:11 (IST)09 Dec 2019
    State Bank of India lowers MCLR based lending rates by 10 bps

    Country’s largest lender State Bank of India on Monday announced the reduction in its marginal cost of fund based lending rate (MCLR) by 10 basis points across all one-year products, effective Tuesday.

    This is the eighth consecutive cut in MCLR by the lender this fiscal. Click here to read the report

    12:55 (IST)09 Dec 2019
    Global market update

    Asian stocks edged up on Monday, catching some of Wall Street's momentum after surprisingly strong US jobs data, although regional gains were capped by concerns about China's economic slowdown due to the prolonged Sino-US trade war.

    Japan's benchmark Nikkei added 0.33 per cent while MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.27 per cent. China's Shanghai Composite stood flat and so did Hong Kong's Hang Seng.

    European shares are expected to give up some of the gains made on Friday after the US payrolls data, with pan-European Euro Stoxx 50 futures down 0.14 per cent, German DAX futures slipping 0.04 per cent and FTSE futures losing 0.35 per cent.

    (Reuters)

    12:28 (IST)09 Dec 2019
    Bharti Telecom seeks Rs 4,900 crore FDI nod; infusion to make Airtel foreign firm

    Bharti Telecom, a promoter of Bharti Airtel, has sought government nod for the infusion of Rs 4,900 crore investment from Singapore-based Singtel and other foreign entities, a move that would make the country’s oldest private telecom operator a foreign entity.

    The fund infusion will enhance foreign stakeholding in Bharti Telecom to over 50 per cent that will make it a foreign-owned entity, an official source aware of the development told PTI. Sunil Bharti Mittal and his family own around 52 per cent stake in Bharti Telecom, at present.

    Bharti Telecom holds around 41 per cent stake in Bharti Airtel while foreign promoter entities hold 21.46 per cent stake in the telecom firm. Public shareholders have around 37 per cent stake in the company. Click here to read the entire story

    12:24 (IST)09 Dec 2019
    ‘DoT to move proposal for cut in licence fee for telecom operators’

    The Department of Telecommunications (DoT) has brought the issue of cutting licence fee for the telecom operators back on the table, despite the committee of secretaries not approving it.

    Sources said that DoT would shortly move a proposal before the Digital Communications Commission (DCC) to reduce the universal service obligation fund (USOF) levy by 2 percentage points to 3 per cent.

    If this happens, the licence fee which operators currently pay at 8 per cent of their adjusted gross revenue (AGR), would come down to 6 per cent. If the proposal is passed, it would provide a relief of around Rs 3,000 crore annually to the operators. Click here to read the report

    12:21 (IST)09 Dec 2019
    With NCLT go-ahead, Amtek Group firm set to undergo insolvency process again

    Setting the ball re-rolling on corporate insolvency resolution process (CIRP) of Amtek Group, the Principal Bench of National Company Law Tribunal (NCLT) has approved a resolution plan for Amtek Auto subsidiary ARGL (Amtek Ring Gears Limited).

    The bid, submitted by Investment Opportunities IV Private, was approved by the lenders to the company on June 4 this year.

    ARGL was dragged to NCLT by the State Bank of India (SBI) in 2017 for defaulting on loans worth nearly Rs 360 crore. Apart from SBI, the company owes nearly Rs 900 crore to other lenders as well. Click here to read the story

    12:06 (IST)09 Dec 2019
    Equity markets at noon

    At noon deals, all the key BSE indices were trading in green. The S&P BSE Sensex was trading marginally higher, while the S&P BSE Sensex Next 50 index was up over 0.5 per cent.

    Source: BSE
    12:02 (IST)09 Dec 2019
    Petrol and Diesel prices on Monday

    Delhi:

    Petrol- 75.00 per litre
    Diesel- 66.04 per litre

    Kolkata:

    Petrol- 77.67 per litre
    Diesel- 68.45 per litre

    Mumbai:

    Petrol- 80.65 per litre
    Diesel- 69.27 per litre

    Chennai:

    Petrol- 77.97 per litre
    Diesel- 69.81 per litre

    Bengaluru:

    Petrol- 77.57 per litre
    Diesel- 68.29 per litre

    Source: IOCL

    11:48 (IST)09 Dec 2019
    Vistara inks codeshare agreement with Lufthansa

    Full service airline Vistara on Monday said it has entered into a codeshare pact with Lufthansa. The two carriers already have an interline partnership.

    “The two airlines are planning to soon expand the scope of the agreement, enabling frequent fliers of both airlines to earn miles/points when travelling on each other’s networks and enjoy other benefits,” Vistara said in a release. Click here to read the story

    11:00 (IST)09 Dec 2019
    Maruti Suzuki shares rise on higher production

    Shares of Maruti Suzuki India on Monday rose over two per cent after the automaker reported an increase in total production for November.

    The MSI stock was trading 2.19 per cent up to Rs 7,032.90 on the BSE. On the NSE, the scrip gained 1.99 per cent to Rs 7,024.05.

    Maruti Suzuki India (MSI) increased its production in November by 4.33 per cent, after having reduced output for nine straight months due to lower demand. Click here to read the report

    10:22 (IST)09 Dec 2019
    INTERVIEW | ‘After Ayushman Bharat, govt should think of parametric solutions for loss from floods’ says Bajaj Allianz General Insurance MD & CEO

    With the frequency of floods across the country increasing over the last few years, there is a need to create awareness around it and cover the losses. Tapan Singhel, MD & CEO of Bajaj Allianz General Insurance, told Sandeep Singh that while “we as a country is not realising how big a social issue it can become, we need to think of parametric solutions”. He added that India as a country needs to become more obsessive about environment, law and order, healthcare and public transport to create a happy society. Click here to read the interview

    10:06 (IST)09 Dec 2019
    As RBI buys dollars, Rupee falls 2.5% in 2019 despite huge foreign funds flow

    In an apparent change in stance away from managing excess volatility in the rupee, the Reserve Bank of India seems to be containing any sharp appreciation in the currency. Despite the recent gush of foreign fund flows into the equity and debt markets, the rupee has remained relatively weak against the United States dollar.

    A weak currency aids exports, and helps a country be competitive in international trade. Many countries including China and Brazil are alleged to have kept their currencies weak, provoking the US to either impose or threaten tariffs on their products.

    In the current calendar year so far, the rupee has depreciated by almost 2.5 per cent, even as foreign portfolio investors (FPIs) have pumped in a net Rs 1.31 lakh crore. Click here to read the story

    09:58 (IST)09 Dec 2019
    Rupee slips 7 paise to 71.27 against USD in early trade

    The Indian rupee opened on a cautious note and fell 7 paise to 71.27 against the US dollar in early trade on Monday tracking muted opening in domestic equities and sustained foreign fund outflows.

    At the interbank foreign exchange, the rupee opened at 71.24 then fell to 71.27 against the US dollar, showing a decline of 7 paise over its previous closing. The Indian rupee on Friday had closed at 71.20 against the US dollar.

    (PTI)

    09:54 (IST)09 Dec 2019
    NSE: Gainers and losers in the sectoral indices in the early morning trade

    Nifty Auto, Nifty Metal and Nifty Media indices were all trading over 1 per cent higher, the Bank Nifty was largely flat while Nifty FMCG and Nifty IT indices slipped around 0.5 per cent.

    Here is how the sectoral indices on the National Stock Exchange (NSE) were performing after the first 30 minutes of market opening:

    Source: NSE
    09:44 (IST)09 Dec 2019
    Nifty Metal index jumps over 1 per cent in early deals

    Apart from the automobile stocks, the Nifty Metal index on the National Stock Exchange (NSE) also gained over 1 per cent higher led by Steel Authority of India (SAIL), Hindalco Industries, Tata Steel and Vedanta.

    Here is how the sectoral index was performing in the early trade session:

    Source: NSE
    09:39 (IST)09 Dec 2019
    Nifty Auto index gains over 0.5 per cent in the early deals

    On the National Stock Exchange (NSE), the Nifty Auto index was up over 0.5 per cent in the early trade on Monday led by gains in the shares of Maruti Suzuki, Tata Motors and TVS Motor Company.

    Here's how the sectoral index was performing:

    Source: NSE
    09:34 (IST)09 Dec 2019
    Sensex: Gainers and losers in the early trade

    On the Sensex, gains were led by Maruti Suzuki, Tata Steel, Vedanta, HDFC and Mahindra and Mahindra (M&M). On the other hand, Yes Bank, Kotak Mahindra Bank and Tech Mahindra were among the top losers in the early trade on Monday:

    Source: BSE
    09:18 (IST)09 Dec 2019
    Equity markets at open on Monday

    At 9:15 am, the S&P BSE Sensex was trading at 40,474.53, up 29.38 points or 0.07 per cent, while the broader Nifty 50 was up 6.45 points or 0.05 per cent at 11,927.95.

    09:12 (IST)09 Dec 2019
    Global crude oil market update

    Oil prices fell on Monday after data showing China's overall exports of goods and services shrank for a fourth straight month, sending shivers through a market already concerned about damage being down to global demand by the Sino-US trade war.

    Brent futures were down 21 cents, or 0.3 per cent, at $64.18 per barrel by 0220 GMT, after gaining about 3 per cent last week on the news that OPEC and its allies would deepen output cuts.
    West Texas Intermediate oil futures were down 28 cents, or 0.47 per cent to $58.92 a barrel, having risen about 7 per cent last week on the prospects for lower production from 'OPEC+', which is made up of the Organization of the Petroleum Exporting Countries (OPEC) and associated producers including Russia.

    (Reuters)

    09:10 (IST)09 Dec 2019
    Global market update

    Asian stocks edged up on Monday, catching some of Wall Street's momentum after surprisingly strong US jobs data although regional gains were capped by concerns about China's economy due to the prolonged Sino-US trade war.

    Japan's benchmark Nikkei advanced 0.3 per cent while MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.3 per cent, with Australian stocks and South Korea's Kospi up 0.2 per cent and 0.6 per cent, respectively.

    (Reuters)

    On Friday, the BSE benchmark Sensex had plummeted over 334 points while the NSE Nifty slipped below the key 12,000-level, dragged by heavy losses in banking and auto stocks.

    The 30-share BSE Sensex witnessed a continuous slide and went on to hit a low of 40,393.46 during the day. The index finally settled at 40,445.15, down 334.44 points or 0.82 per cent. Likewise, the 50-share Nifty shed 96.90 points or 0.81 per cent to settle at 11,921.50.