Follow Us:
Tuesday, January 21, 2020

Shares, Commodity, Rupee Market Highlights: Sensex cracks 248 points, Nifty settles below 11,900 weighed by IT, FMCG and PSU banks

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

By: Express Web Desk | New Delhi | Updated: December 10, 2019 5:22:02 pm
Stock market indices fell over 0.6 per cent on trade on Tuesday. (Image source: Getty/Thinkstock)

Share Market, Sensex, Nifty Highlights: The benchmark equity indices on the BSE and the National Stock Exchange (NSE) ended over 0.6 per cent lower on Tuesday following a last hour selloff across all counters.

The S&P BSE Sensex fell 247.55 points or 0.61 per cent to settle at 40,239.88, while the broader Nifty 50 ended at 11,856.80, down 80.70 points or 0.68 per cent.

On the Sensex, private banks – Yes Bank and IndusInd Bank, fast-moving consumer goods (FMCG) major ITC and information technology (IT) heavyweight Tata Consultancy Services (TCS) were among the top contributors to Tuesday’s losses.

All the sectoral indices on NSE ended in a sea of red on Tuesday with the Nifty IT index falling 1.39 per cent dragged by Just Dial and TCS. That apart, the Nifty PSU Bank index slipped 1.60 per cent owing to a fall in Allahabad Bank and Union Bank of India. Nifty FMCG index also fell 1.04 per cent weighed by ITC.

The broader market indices underperformed their benchmark peers on Tuesday. On the BSE, the S&P BSE MidCap index fell 163.52 points or 1.11 per cent to end at 14,519.78, while the S&P BSE SmallCap index was settled at 13,145.27, down 135.23 points or 1.02 per cent.

Rupee

The rupee ended at 70.92 against the US dollar on Tuesday, up from 71.04 on Monday.

Crude oil

Brent crude was down 17 cents, or 0.3 per cent, at $64.08 per barrel by 0954 GMT while West Texas Intermediate oil was down 21 cents, or 0.4 per cent, lower at $58.81 a barrel.

(with inputs from agencies)

Live Blog

Everything that took place in the field of equity, commodity and money markets:

Highlights

    17:19 (IST)10 Dec 2019
    Rupee at close on Tuesday

    Rupee settles 12 paise up at 70.92 against US dollar.

    (PTI)

    16:32 (IST)10 Dec 2019
    Gold’s been on a tear this year and 2020 may see more reward

    Gold’s impressive advance in 2019 — aided by trade war frictions, easier monetary policy across the world’s leading economies and sustained central-bank buying — may be set to spill into the new decade.

    As 2020 looms, BlackRock Inc., the world’s largest money manager, remains constructive on bullion as a hedge, while Goldman Sachs Group Inc. and UBS Group AG see prices climbing to $1,600 an ounce — a level last seen in 2013. Click here to read the complete story

    16:11 (IST)10 Dec 2019
    Vinod Nair, Head of Research at Geojit Financial Services on Tuesday's market movement

    "Selling in domestic market accentuated today as investors turned more cautious over double whammy of inflationary pressure and weak growth. Another factor which is impacting market is the likelihood of maintenance of status quo on rates by both USFED and ECB. Given domestic premium valuation of key indices, market is highly susceptible for near term volatility."

    16:08 (IST)10 Dec 2019
    Sensex: Gainers and losers of the day

    Yes Bank, IndusInd Bank, ITC, Tata Consultancy Services (TCS) were among the top losers of the day on the Sensex, while Bajaj Finance and Hindustan Unilever were the top gainers:

    Source: BSE
    15:35 (IST)10 Dec 2019
    Equity markets at close on Tuesday

    The S&P BSE Sensex fell 247.55 points or 0.61 per cent to settle at 40,239.88, while the broader Nifty 50 ended at 11,856.80, down 80.70 points or 0.68 per cent.

    15:23 (IST)10 Dec 2019
    Nickel futures dip on soft demand

    Nickel futures on Tuesday declined by Rs 9.90 to Rs 969.70 per kg as speculators reduced positions amid sluggish demand at the spot market.

    On the Multi Commodity Exchange, nickel contracts for December delivery fell by Rs 9.90, or 1.01 per cent, at Rs 969.70 per kg with a business turnover of 2,234 lots. Similarly, nickel contracts for January delivery fell by Rs 10.20, or 1.05 per cent, to Rs 965.5 per kg in 164 lots.

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

    (PTI)

    15:21 (IST)10 Dec 2019
    Chana futures up on strong spot demand

    Chana prices shot up by Rs 4 to Rs 4,357 per quintal in futures trade on Tuesday as speculators built up fresh positions, supported by uptick in demand from dal mills at spot markets.

    On the National Commodity and Derivatives Exchange, chana for delivery in December was trading higher by Rs 4, or 0.09 per cent, at Rs 4,357 per quintal with an open interest of 11,720 lots.  Chana to be delivered in January also traded higher by Rs 2, or 0.05 per cent, at Rs 4,392 per quintal in 45,420 lots.

    Speculative positions created by participants due to a firm trend at spot markets on the back of strong demand from dal mills led to the rise in chana prices, analysts said.

    (PTI)

    15:20 (IST)10 Dec 2019
    Zinc futures ease on low demand

    Zinc prices on Tuesday fell by 50 paise to Rs 182.20 per kg in futures trade as speculators cut bets driven by easing demand at the spot market.

    On the Multi Commodity Exchange, zinc contracts for December delivery moved down by 50 paise, or 0.27 per cent, to Rs 182.20 per kg in a business turnover of 3,314 lots.

    Analysts said offloading of positions by traders owing to slackened demand from consuming industries in physical market weighed on zinc prices in futures trade here.

    (PTI)

    15:20 (IST)10 Dec 2019
    Aluminium futures rise on spot demand

    Aluminium prices on Tuesday edged up 0.15 per cent to Rs 132.70 per kg in futures market after speculators built up fresh positions amid positive trend at the spot market.

    On the Multi Commodity Exchange (MCX), aluminium for delivery in December contracts edged higher by 20 paise, or 0.15 per cent, to Rs 132.70 per kg in a business turnover of 218 lots.

    Analysts said fresh positions created by traders after positive demand from consuming industries mainly led to rise in aluminium prices.

    (PTI)

    15:19 (IST)10 Dec 2019
    Copper futures dip on low demand

    Copper futures on Tuesday traded 0.31 per cent lower to Rs 438.15 per kg as speculators reduced their exposure on weak spot demand.

    On the Multi Commodity Exchange, copper contracts for December delivery fell by Rs 1.25, or 0.31 per cent, to Rs 438.15 per kg in a business turnover of 5,678 lots. Similarly, copper contracts for January delivery traded lower by Re 1, or 0.23 per cent, at Rs 442.80 per kg in a business turnover of 486 lots.

    (PTI)

    14:23 (IST)10 Dec 2019
    Guar gum futures strengthen on spot demand

    Guar gum prices on Tuesday advanced Rs 35 to Rs 7,170 per five quintal in futures trade as investors created fresh bets on firm spot demand.

    On the National Commodity and Derivatives Exchange, guar gum contracts for December rose by Rs 35, or 0.49 per cent, to Rs 7,170 per five quintal with an open interest of 7,580 lots.

    Restricted arrivals from growing regions aided the rise in guar gum prices, traders said.

    (PTI)

    14:14 (IST)10 Dec 2019
    Soybean futures gain on fresh bets

    Soybean prices on Tuesday rose by Rs 8 to Rs 4,154 per quintal in futures trade 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 8, or 0.19 per cent, to Rs 4,154 per quintal with an open interest of 32,345 lots.

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

    (PTI)

    14:13 (IST)10 Dec 2019
    Coriander futures gain on spot demand

    Coriander prices on Tuesday gained Rs 115 to Rs 6,816 per quintal in futures market as participants built up fresh positions amid rising spot demand.

    Besides, tight stocks on account of restricted arrivals from major growing regions strengthened the prices.

    On the National Commodity and Derivatives Exchange, coriander for December contracts edged higher by Rs 115, or 1.72 per cent, to Rs 6,816 per quintal with an open interest of 5,400 lots. On similar lines, the spice for delivery in January contracts was trading higher by Rs 104, or 1.58 per cent, to Rs 6,669 per quintal with an open interest of 7,110 lots.

    Market analysts attributed the rise in coriander futures to upsurge in demand in the physical market against tight stocks position.

    (PTI)

    14:08 (IST)10 Dec 2019
    Yes Bank shares tumble 5 per cent ahead of board meeting

    Shares of Yes Bank on Tuesday declined by over 5 per cent ahead of the board meeting later in the day to finalise and approve the proposed capital infusion.

    On the BSE, the shares fell 4.98 per cent to Rs 53.40. The scrip on the NSE tumbled by 5.15 per cent to Rs 53.35. Click here to read the entire report

    13:49 (IST)10 Dec 2019
    This mysterious tycoon wants to save Yes Bank with a $1.2 billion bid

    Erwin Singh Braich, the mysterious tycoon behind a $1.2 billion bid to rescue a beleaguered Indian bank, says he is Canada’s richest man with a story so fabulous that Netflix Inc. wants to tell it.

    There’s a less glittering account pieced together from interviews and court records: The son of a lumber baron has a history including bankruptcy, lawsuits and soured business deals. He has no headquarters, no banker to manage his money, and is currently living in a three-star motel in the Canadian prairies. Click here to read the complete story

    12:44 (IST)10 Dec 2019
    NBFCs to look for growth opportunities in offshore markets: Fitch

    India’s non-banking financial companies will look increasingly to offshore financing as local funding conditions may remain under pressure, Fitch Ratings said on Tuesday.

    However, the rating agency expects offshore access to be restricted to larger entities with stronger credit fundamentals.

    “India’s weaker macroeconomic backdrop is likely to add to the existing funding, growth and asset-quality strains weighing on the Indian NBFCs (non-banking financial companies) industry as a whole, underpinning our negative outlook for 2020,” the ratings agency said in a statement. Click here to read the full story

    12:28 (IST)10 Dec 2019
    Mutual fund equity inflows fall 84.4 per cent in November

    Inflows into equity schemes of mutual funds plummeted 84.4 per cent in November, despite stock market indices like Sensex hitting a record peak and foreign investors pumping over Rs 25,000 into the stock market during the month.

    Open-ended equity schemes witnessed an infusion of Rs 1,312 crore, while there was an outflow of Rs 379 crore from close-ended equity plans, taking total equity inflows to Rs 933 crore in November as against inflows of Rs 6,015 crore in October, the Association of Mutual Funds in India (AMFI) said on Monday. Click here to read the complete story

    12:26 (IST)10 Dec 2019
    NSE launches interest rate option on govt bonds

    The National Stock Exchange (NSE) Monday launched interest rate options on 10-year Government of India (GOI) bonds. “The first day of launch witnessed turnover of 5,926 contracts. Participation was observed from more than 50 trading members,” the NSE said.

    Vikram Limaye, MD and CEO, NSE, said, “By launching interest rate options, we have added one more instrument to the fixed income derivatives asset class. Interest rate options will provide institutional investors the ability to manage risk through a non-linear product which is otherwise not available to them. Market participants can use options to trade and hedge interest rate risk on a transparent platform.” Click here to read the complete story

    12:02 (IST)10 Dec 2019
    Indices check at noon

    Here is how the key BSE indices were trading at noon deals on Tuesday:

    Source: BSE
    11:59 (IST)10 Dec 2019
    Global market update

    Asian equity markets eased slightly on Tuesday, tracking Wall Street declines as investors fretted over a December 15 deadline for the next round of US tariffs on Chinese imports to take effect.

    European equity futures pointed to similarly small moves. Pan-region Euro Stoxx 50 futures were down 0.03 per cent and German DAX futures were 0.14 per cent lower in early trade, while FTSE futures added 0.1 per cent.

    MSCI's broadest index of Asia-Pacific shares outside Japan was 0.17 per cent lower, with China's benchmark Shanghai Composite index off 0.08 per cent. Australian shares were off 0.34 per cent, while Japan's Nikkei was down 0.08 per cent.

    (Reuters)

    11:46 (IST)10 Dec 2019
    Passenger vehicle sales decline marginally in November

    Domestic passenger vehicle sales declined 0.84 per cent to 2,63,773 units in November from 2,66,000 units in the year-ago period.

    Domestic car sales were down 10.83 per cent to 1,60,306 units as against 1,79,783 units in November 2018, according to data released by the Society of Indian Automobile Manufacturers (SIAM).

    Motorcycle sales last month declined 14.87 per cent to 8,93,538 units as against 10,49,651 units a year earlier. Click here to read the complete story

    11:26 (IST)10 Dec 2019
    Dilip Buildcon lowest bidder for Rs 826 crore Delhi Metro project

    Dilip Buildcon Ltd on Tuesday said it has been declared the lower bidder by Delhi Metro Rail Corporation Ltd for Rs 825.62-crore project.

    “Dilip Buildcon Limited through JV has been declared L-1 bidder for the project ‘part design and construction of elevated viaduct, elevated ramp, siding lines, viaduct for connection to Mukundpur depot and four elevated stations, Phase-IV of Delhi MRTS and partly integrated and partly independent flyover of PWD between Azadpur and Derawal Nagar on G T Road by Delhi Metro Rail Corporation Ltd,” the company said in a BSE filing. Click here to read the full story

    11:02 (IST)10 Dec 2019
    Centre lowers onion holding limit to 2 tn from 5 tn for retailers

    In a bid to check hoarding and arrest rising prices, the Ministry of Consumer Affairs, Food and Public Distribution on Monday further reduced the stock holding limit for retailers from 5 tonnes to 2 tonnes of onions. Sources said that the Ministry also asked states to carry out immediate anti-hoarding operations, but clarified that the stock holding limit shall continue to be the same for wholesalers. Besides, importers will continue to remain exempted from these stock limits for imported onions.

    This is the second time in less than a fortnight that the Centre has cut the stock holding limit of onions. On December 3, the Ministry halved the stock holding limit for retailers from 10 to 5 tonnes and for wholesalers from 50 to 25 tonnes. The move comes at time when onion prices are skyrocketing, with retail prices crossing Rs 100 per kg in some cities. Click here to read the full story

    10:49 (IST)10 Dec 2019
    Petrol and Diesel prices on Tuesday

    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

    10:43 (IST)10 Dec 2019
    Ex-Infosys CEO Vishal Sikka joins Oracle’s board of directors

    Former Infosys CEO Vishal Sikka, who recently launched his AI startup Vianai Systems, has been nominated to the board of directors of global technology major Oracle.

    Sikka, 52, is among the world’s leading experts in Artificial Intelligence (AI), Machine Learning and would be helping Oracle in the business value and adapt to change, the company said in a statement. Click here to read the report

    10:10 (IST)10 Dec 2019
    Rupee rises 10 paise to 70.94 against US dollar in early trade

    The rupee appreciated by 10 paise to 70.94 against the US dollar in early trade on Tuesday as easing crude prices and sustained foreign fund inflows strengthened investor sentiments.

    At the interbank foreign exchange the rupee opened at 70.98, then gathered momentum and touched 70.94 against the US dollar, registering a rise of 10 paise over its previous close. On Monday, rupee had settled for the day at 71.04 against the US dollar.

    (PTI)

    09:56 (IST)10 Dec 2019
    Sectoral indices slip

    Most sectoral indices on the National Stock Exchange (NSE) were moving in a sea of red except the Nifty Financial Service and Nifty Pharma. The Nifty IT index has been the top drag so far in the day's trade.

    Source: NSE
    09:51 (IST)10 Dec 2019
    Nifty IT index slips 1 per cent

    The Nifty IT index on the NSE was trading over 1 per cent lower after the first 30 minutes of opening bell weighed by the shares of Just Dial, MindTree and Tata Consultancy Services.

    Source: NSE
    09:45 (IST)10 Dec 2019
    Nifty Pharma gains nearly 0.5 per cent

    The Nifty Pharma index on the National Stock Exchange (NSE) has risen nearly 0.5 per cent led by gains in the shares of Sun Pharma, Cipla and Glenmark. All the three companies are trading over 1 per cent higher in the early session of trade on Tuesday:

    Source: NSE
    09:40 (IST)10 Dec 2019
    Sensex: Gainers and losers in early trade on Tuesday

    Sun Pharmaceutical Industries, ONGC and Hindustan Unilever were the top gainers on the S&P BSE Sensex in the early trade on Tuesday while Yes Bank, Tata Consultancy Services (TCS) and Mahindra and Mahindra (M&M) were the top losers.

    Source: BSE
    09:24 (IST)10 Dec 2019
    Equity markets at open on Tuesday

    At 9:16 am, the S&P BSE Sensex was at 40,489.40, up 1.97 points or 0.00 per cent while the broader Nifty 50 index was down 4.35 points or 0.04 per cent at 11,933.15.

    09:15 (IST)10 Dec 2019
    Global crude oil update

    Global benchmark Brent crude fell 0.08 per cent to $64.20 a barrel and US West Texas Intermediate crude dipped 0.05 per cent to $58.99 a barrel.

    (Reuters)

    09:13 (IST)10 Dec 2019
    Global market update

    Asian equity markets ticked down on Tuesday, tracking Wall Street losses as investors fretted over a December 15 deadline for the next round of US tariffs on Chinese imports to take effect.

    Adding to the market uncertainty were comments from US Agriculture Secretary Sonny Perdue on Monday that while President Donald Trump did not want to implement tariffs, he did want to see "movement" from China.

    MSCI's broadest index of Asia-Pacific shares outside Japan was just 0.05 per cent lower, with China's benchmark Shanghai Composite index off 0.3 per cent. Australian shares were off 0.19 per cent, while Japan's Nikkei was flat.

    On Wall Street, the Dow Jones Industrial Average fell 0.38 per cent to 27,909.6, the S&P 500 lost 0.32 per cent to 3,135.96 and the Nasdaq Composite dropped 0.4 per cent to 8,621.83.

    (Reuters)

    On Monday, the BSE Sensex settled with gains of 42.28 points or 0.10 per cent at 40,487.43. The index swung between a high of 40,645.63 and a low of 40,336.56 during the day. The 50-scrip NSE Nifty closed 16 points or 0.13 per cent higher at 11,937.50.