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Monday, January 20, 2020

Shares, Rupee, Commodity Market Highlights: Sensex climbs 169 points, Nifty settles at 11,972 led by banks, metal stocks

Share Market, Sensex, Nifty, BSE, NSE Share Price highlights: Everything that happened in equity, commodity and money markets on Thursday.

By: Express Web Desk | New Delhi | Updated: December 12, 2019 5:22:20 pm
Share Trading at a firm in Kolkata. (Express photo by Partha Paul)

Share Market, Sensex, Nifty Highlights: The topline equity market indices on the BSE and National Stock Exchange (NSE) ended around 0.5 per cent higher on Thursday aided by gains in baking and metal stocks.

The S&P BSE Sensex settled at 40,581.71, up 169.14 points or 0.42 per cent on Thursday, while the broader Nifty 50 rose 61.65 points or 0.52 per cent to end at 11,971.80.

Among sectoral indices on NSE, the Nifty Metal index was the biggest gainer of the day, rising 2.36 per cent led by gains in the shares of Hindustan Copper, Vedanta and Tata Steel. It was closely followed by the Nifty PSU Bank index settled 2.23 per cent higher driven by State Bank of India, Syndicate Bank and Union Bank of India.

The broader market indices on the BSE outperformed their benchmark peer Sensex. The S&P BSE MidCap index ended at 14,695.67, up 100.22 points or 0.69 per cent, while the S&P BSE SmallCap rose 77.37 points or 0.59 per cent to settle at 13,223.98.

Rupee

The rupee pared settled 2 paise higher at 70.83 against US dollar on Thursday.

Crude oil

Brent rose 41 cents, or 0.6 per cent, to $64.13 a barrel by 1005 GMT. West Texas Intermediate crude was up 22 cents, or 0.4 per cent, at $58.98 a barrel.

(with inputs from agencies)

Live Blog

Here's what happened in the stocks, commodity and rupee market:

Highlights

    17:18 (IST)12 Dec 2019
    Rupee at close on Thursday

    Rupee pares early gains; settles 2 paise higher at 70.83 against US dollar.

    (PTI)

    17:04 (IST)12 Dec 2019
    Global crude oil market update

    Oil prices rose on Thursday, recouping some of the previous session's losses after OPEC forecast a supply deficit next year and the US Federal Reserve said the economic outlook was favourable.

    Brent rose 41 cents, or 0.6 per cent, to $64.13 a barrel by 1005 GMT. West Texas Intermediate crude was up 22 cents, or 0.4 per cent, at $58.98 a barrel.

    (Reuters)

    16:22 (IST)12 Dec 2019
    Crude oil futures gain on spot demand, global cues

    Crude oil prices on Thursday gained by Rs 2 to Rs 4,162 per barrel as speculators created fresh positions amid positive trend in spot market.

    Analysts said raising of bets by participants kept crude prices higher in futures trade.

    On the Multi Commodity Exchange, crude for delivery in January traded higher by Rs 2, or 0.05 per cent to Rs 4,162 per barrel in 2,434 lots.
    Globally, West Texas Intermediate crude oil was trading 0.46 per cent up at USD 59.03 per barrel.

    Meanwhile, Brent crude, the international benchmark rose 0.71 per cent to USD 64.17 per barrel in New York.

    (PTI)

    16:20 (IST)12 Dec 2019
    Silver futures rise on fresh bets

    Silver futures on Thursday advanced by Rs 35 to Rs 43,860 per kg as investors raised their positions supported by positive global trend.

    Silver contracts to be delivered in March was trading higher by 0.08 per cent, or Rs 35, to Rs 43,860 per kg in 2,668 lots on the Multi Commodity Exchange.

    In the international market, silver was 0.36 per cent up at USD 16.91 an ounce in New York.

    (PTI)

    16:18 (IST)12 Dec 2019
    Gold futures slip Rs 34 to Rs 37,665 per 10 gm

    Gold prices on Thursday fell Rs 34 to Rs 37,665 per 10 gram in futures trade as participants cut down their bets.

    On the Multi Commodity Exchange, gold prices for delivery in February fell by Rs 34, or 0.09 per cent, to Rs 37,665 per 10 gram in a business turnover of 15,899 lots. The yellow metal for April delivery plunged Rs 53, or 0.14 per cent, to Rs 37,731 per 10 gram in 2,561 lots.

    Analysts attributed the fall in prices to trimming of positions by investors.

    Globally, gold was trading 0.18 per cent up at USD 1,477.70 an ounce in New York.

    (PTI)

    16:18 (IST)12 Dec 2019
    Copper futures dip on weak demand

    Copper futures on Thursday traded 0.33 per cent lower at Rs 440.60 per kg in futures trade as speculators reduced exposure on weak spot demand.

    On the Multi Commodity Exchange, copper contracts for December delivery fell by Rs 1.45, or 0.33 per cent, to Rs 440.60 per kg in a business turnover of 5,756 lots. Similarly, copper contracts for January delivery traded lower by Rs 1.40, or 0.31 per cent, at Rs 445 per kg in a business turnover of 597 lots.

    (PTI)

    16:15 (IST)12 Dec 2019
    Vinod Nair, Head of Research at Geojit Financial Services on Thursday's equity market

    "FED’s dovish stance on future rate trajectory and strengthening rupee brings cheer to investors. Global sentiment is likely to turn positive in expectation of delay in US tariff deadline, while expecting more positive developments from US-China trade talks. Metals & banks outperformed while IT index slid due to strong rupee and signs of change in risk appetite. On the other hand, November CPI inflation is likely to rise to 5.3% while Oct IIP may slide to -5% which may have some impact on the direction."

    16:10 (IST)12 Dec 2019
    BSE Sensex: Gainers and losers of the day

    On the Sensex, gains on Thursday were led by Tata Motors, Yes Bank, Vedanta, Tata Steel, State Bank of India (SBI) and Kotak Mahindra Bank. On the other hand, information technology giants Infosys, HCL Technologies and Tata Consultancy Services (TCS) were the top losers.

    Source: BSE
    15:42 (IST)12 Dec 2019
    Equity markets at close on Thursday

    The S&P BSE Sensex settled at 40,581.71, up 169.14 points or 0.42 per cent on Thursday, while the broader Nifty 50 rose 61.65 points or 0.52 per cent to end at 11,971.80.

    15:30 (IST)12 Dec 2019
    Global market update

    World shares took a fresh run at record highs on Thursday, as all the right messages from the US Federal Reserve set traders up nicely for a packed day of milestone central bank meetings and a Brexit-defining election in Britain.

    The Fed kept US interest rates unchanged, as expected, but it was a message that it would take an unexpected and "persistent" rise in inflation to lift them again that buoyed the bulls and shoved the dollar to its lowest since August.

    It helped Asian shares rally almost 1 per cent, despite reports Washington will press on with new China tariffs, and solid 0.2-0.5 per cent gains in Europe early on left MSCI's broadest index of world shares just 0.1 per cent shy of its January 2018 all-time high.

    (Reuters)

    15:24 (IST)12 Dec 2019
    Zinc futures rise to Rs 181.80 per kg

    Zinc prices edged higher by 0.3 per cent to Rs 181.80 per kg in futures market on Thursday as traders built up fresh positions.

    On the Multi Commodity Exchange, zinc for delivery in December traded higher by 55 paise, or 0.3 per cent, to Rs 181.80 per kg in a business turnover of 3,579 lots.

    Market analysts said fresh positions created by participants on the back of rise in demand from consuming industries mainly attributed to gain in zinc prices.

    (PTI)

    15:22 (IST)12 Dec 2019
    Aluminium futures up on fresh demand

    Aluminium prices on Thursday edged up 10 paise to Rs 132.75 per kg in futures market after speculators built up fresh positions amid positive trend at the spot market.

    On the Multi Commodity Exchange, aluminium for delivery in December contracts edged higher by 10 paise, or 0.08 per cent, to Rs 132.75 per kg in a business turnover of 1,599 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)12 Dec 2019
    Lead futures slide on weak demand

    Lead prices on Thursday drifted 0.1 per cent lower to Rs 153.70 per kg in futures market as speculators cut bets on low demand.

    On the Multi Commodity Exchange, lead for delivery in December fell by 15 paise, or 0.1 per cent, to Rs 153.70 per kg in 1,059 lots.

    Analysts said offloading of positions by participants owing to slackened demand from consuming industries in physical market mainly influenced lead prices in futures trade.

    (PTI)

    15:17 (IST)12 Dec 2019
    Cottonseed oil cake futures strengthen on fresh bets

    Cottonseed oil cake prices on Thursday were trading up by Rs 32 to Rs 2,033 per quintal in futures trade after participants accumulated positions on spot demand.

    On the National Commodity and Derivatives Exchange, cottonseed oil cake for delivery in January traded higher by Rs 32, or 1.6 per cent, at Rs 2,033 per quintal in an open interest of 52,930 lots. Likewise for delivery in February, cottonseed oil cake was trading higher by Rs 28, or 1.38 per cent, at Rs 2,055 per quintal in an open interest of lots of 26,600.

    Marketmen said raising of positions by participants amid a rising demand from cattle-feed makers mainly influenced cottonseed oil cake prices here.

    (PTI)

    15:16 (IST)12 Dec 2019
    Mustard seed futures rise amid limited supplies

    Mustard seed prices on Thursday rose by Rs 11 to Rs 4,411 per quintal in futures trade as speculators raised their bets amid limited supplies.

    Marketmen said besides 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 by Rs 11, or 0.25 per cent, to Rs 4,411 per quintal with an open interest of 7,490 lots. Similarly, the delivery for January gained Rs 13, or 0.29 per cent, to Rs 4,431 per quintal with an open interest of 1,378 lots.

    (PTI)

    15:15 (IST)12 Dec 2019
    Soybean futures strengthen on spot demand

    Soybean prices on Thursday rose by Rs 28 to Rs 90 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 28, or 0.67 per cent, to Rs 4,190 per quintal with an open interest of 21,455 lots. Soybean for delivery in January rose by Rs 32, or 0.76 per cent, to Rs 4,230 per quintal having an open interest of 17,785 lots.

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

    (PTI)

    15:14 (IST)12 Dec 2019
    Coriander futures gain on firm demand

    Coriander prices on Thursday gained 0.76 per cent to Rs 7,040 per quintal in futures market as participants built up fresh positions on firm spot demand.

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

    On the National Commodity and Derivatives Exchange, coriander for December delivery rose by Rs 53, or 0.76 per cent, to Rs 7,040 per quintal with an open interest of 4,410 lots.

    (PTI)

    15:13 (IST)12 Dec 2019
    Guar gum futures fall on sluggish demand

    Guar gum prices on Thursday declined by Rs 6 to Rs 7,162 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 6, or 0.08 per cent, to Rs 7,162 per five quintal in 3,615 lots.

    (PTI)

    14:16 (IST)12 Dec 2019
    Yes Bank stock surges 14 per cent on value buying

    Shares of Yes bank on Thursday rose as much as 14 per cent on bourses mainly due to value buying after five consecutive trading sessions of losses.

    On the BSE, the scrip after opening on a positive note further rose to an intra-day high of Rs 48.15, up 12.5 per cent. Later, the stock was quoting at Rs 46.20 in the afternoon trading session, up 7.83 per cent from the previous close. Click here to read the complete report

    13:59 (IST)12 Dec 2019
    Tech Mahindra bags Rs 500-crore smart city project in Pune

    IT company Tech Mahindra on Thursday said it has bagged a smart city project worth Rs 500 crore from Pimpri Chinchwad Municipal Corporation (PCMC) in Pune.

    Through this project, Tech Mahindra will engage with more than 15 lakh citizens of PCMC in Pune district by enabling technology-led transformation to convert it into a smart and sustainable city. Click here to read the complete story

    Caption
    13:36 (IST)12 Dec 2019
    Crude oil market update

    Oil prices rose on Thursday, recouping some of the losses from the previous session that followed a surprise increase in US crude inventories, as the market mood switched to relief after OPEC forecast a supply deficit next year.

    Brent futures rose 28 cents, or 0.4 per cent to $64.00 a barrel, after skidding 1 per cent on Wednesday on the US stocks build-up.

    West Texas Intermediate crude was up 12 cents, or 0.2 per cent, at $58.88 a barrel, following a 0.8 per cent drop the previous session.

    (Reuters)

    13:33 (IST)12 Dec 2019
    MTNL shares rise as it seeks shareholder nod for fundraising, monetisation of assets

    Shares of Mahanagar Telephone Nigam Ltd (MTNL) on Thursday appreciated nearly 5 per cent, a day after it said it will seek shareholders’ nod for monetisation of land and buildings as well as for raising up to Rs 6,500 crore through non-convertible debentures.

    On BSE, the scrip increased 4.88 per cent to Rs 7.95, while on NSE, the shares rose 4.64 per cent to Rs 7.90. Click here to read the report

    13:18 (IST)12 Dec 2019
    Gold prices gain up to Rs 83 per 10 gm, silver rises Rs 395 a kg

    Bullion prices in the benchmark markets rose on Thursday with prices of gold inched up by Rs 83 while that of silver gained Rs 395.

    The opening price for gold of 999 purity was Rs 37,875 per 10 grams, up Rs 83 from Wednesday's closing price of Rs 37,792, while that of 995 purity gold was Rs 37,723, up Rs 82 from Rs 37,641 on Wednesday, according to the data published by India Bullion and Jewellers Association (IBJA).

    Price of silver too rose by Rs 395 in the early trade on Thursday. The precious metal of 999 purity was at Rs 43,655 a kg, up Rs 395 from Rs 43,260 on Wednesday, the IBJA data showed.

    12:56 (IST)12 Dec 2019
    Walmart, Flipkart to invest in Ninjacart

    Walmart and Flipkart Wednesday announced a joint strategic investment in Ninjacart, a Bengaluru-based fresh produce supply chain company.

    The partnership will help Walmart and Flipkart strengthen direct sourcing of fresh produce for Walmart India’s wholesale cash and carry stores and Flipkart’s online grocery business Supermart. The investment will also support Ninjacart to expand its customer base, reach new cities and gain exposure to global best practices to enhance the efficiency of the local fresh produce ecosystem, the firms said in a joint statement. Founded in 2015, Ninjacart works with 20,000 farmers and supplies fresh produce to 60,000 retailers, according to its website. Click here to read the report

    12:40 (IST)12 Dec 2019
    Tech Mahindra to hold Analyst Meet on Monday

    Information technology (IT) firm Tech Mahindra will be hosting an analyst meet on Monday, December 16, 2019, the company said in an exchange filing today.

    The meeting will be hosted in the company's Pune campus and senior magement team of the firm will be present including C P Gumani. Managing Director & Chief Executive Officer. they will make presentations on the company‘s strategy and way forward, the filing said.

    The event wiil conclude with an executive open house question and answer (Q&A) session.

    12:29 (IST)12 Dec 2019
    GST rate rationalisation should lead to gain in revenue, not inconvenience people: States

    As talks of a hike in goods and services tax (GST) rates gain momentum, there is a sense of disquiet among states regarding any major tinkering of the slabs, especially the lower tax slab and exempted items. The Council meeting of December 18, coming in the backdrop of the Centre’s struggles on the revenue side sets the stage to reverse the direction of rate cuts.

    The emerging view is that revenue gain from any such rate hike has to be substantial and not cause inconvenience to the common man, though they are of the view that ways need to be found to narrow the widening revenue gap. Click here to read the report

    12:15 (IST)12 Dec 2019
    ‘22 million seek credit each month; 70% drop out due to complexities’

    As many as 22 million consumers are seeking credit opportunities every month, demanding a quick and easy digital application experience so that they can access funds more easily, but 70 per cent of them drop out mid-way due to the cumbersome procedures, according to a report by TransUnion Cibil, a credit information company.

    However, current processes are still cumbersome and time-consuming, requiring credit applicants to go through multiple steps and provide several pieces of data and identity confirmation, a Cibil research report said. “This, combined with lenders’ tight control over fraud checks and manual verifications, makes it incredibly difficult for them to meet consumer expectations,” it said. Click here to read the entire report

    11:45 (IST)12 Dec 2019
    ‘NBFC, HFC growth to hit a decadal low of 6-8% this fiscal’

    Pummelled by rising borrowing costs, re-calibration and de-risking of loan book and a slowing economy, growth in assets under management (AUM) of non-banks, comprising non-banking finance companies and housing finance companies, is set to fall to a decade’s low of 6-8 per cent in 2019-20 as against 15 per cent last fiscal, a Crisil report has said.

    Confidence deficit of investors who were initially focused on asset-liability maturity (ALM) profile have firmly shifted to concerns over asset quality, especially for the wholesale book. “With the headwinds unlikely to dissipate soon, non-banks, specifically the wholesale-focused ones without strong parentage, would need to make structural changes and reorient their business models, leading to a recalibration of their AUM mix,” the rating agency said. Click here to read the complete story

    11:36 (IST)12 Dec 2019
    RBI Guv takes up credit flow, rate transmission with PSU bank chiefs

    Reserve Bank of India (RBI) Governor Shaktikanta Das on Wednesday took up the issues of interest rate transmission and the flow of credit to the productive sectors of the economy with the chief executives of major public sector banks (PSB).

    In a meeting with managing directors and CEOs of major PSBs, Das said there has been some improvement in the banking sector, which remains resilient even though current economic conditions may pose certain challenges. He urged the banks to proactively tackle emerging challenges swiftly, particularly with regard to stressed assets resolution in a co-ordinated manner. Click here to read the complete story

    11:33 (IST)12 Dec 2019
    MUST READ | Slowdown a correction, liquidity problem behind us: Tata Sons chairman N Chandrasekaran

    THE CURRENT economic slowdown that India is witnessing is a “correction process” as the country has seen “excesses”, Tata Sons Chairman N Chandrasekaran said at the Express Adda on Tuesday. He, however, said that India is taking “too long” to correct these excesses.

    “According to me, what we are going through is also a correction process. We have had excesses. I am not blaming anybody. These excesses have to be corrected. The only thing is we are taking too long to correct it. If so much of NPA (non-performing assets) is there, the fact is it is there. It has accumulated in front of our eyes. So this correction has to happen, but it has to happen fast,” said Chandrasekaran. “The slowdown is real, but I am optimistic about India,” he said. Click here to read the complete report

    11:20 (IST)12 Dec 2019
    Ujjivan Small Finance Bank makes a powerful market debut, gets listed at 59% premium

    Ujjivan Small Finance Bank made its debut in the stock market today. The scrip of the small finance bank opened at Rs 58 apiece on the BSE at 10 am, up 56.76 per cent from its initial public offer (IPO) issue price of Rs 37. On the National Stock Exchange (NSE), the stock was listed at Rs 58.75, up 58.78 per cent from the issue price.

    The stock further extended the listing price and rose to Rs 62.80 on the BSE and NSE in the early deals. However it soon erased the gains and was trading below its listing price on the BSE. Click here to read the complete report

    10:16 (IST)12 Dec 2019
    Ujjivan Small Finance Bank gets listed in stock exchanges

    Ujjivan Small Finance Bank got listed in the stock exchanges today. The scrip got listed on the BSE at Rs 58, up from its IPO issue price of Rs 37.


    Source: BSE
    09:54 (IST)12 Dec 2019
    Rupee rises 21 paise to 70.64 against USD in early trade

    The Indian rupee appreciated by 21 paise to 70.64 against the US dollar in early trade on Thursday as higher opening in domestic equities and sustained foreign fund inflows strengthened investor sentiments. Forex traders said the domestic unit gained ground ahead of the release of key macro-economic numbers.

    At the interbank foreign exchange, the rupee opened at 70.67, then gained further ground and touched 70.64, registering a rise of 21 paise over its previous close. On Wednesday, the rupee had settled for the day at 70.85 against the US dollar.

    09:52 (IST)12 Dec 2019
    Sectoral indices on NSE in early trade

    All the sectoral indices on the National Stock Exchange (NSE) were trading in green in the early morning trade on Thursday. Nifty Metal, Nifty Pharma, Nifty PSU Bank indices were trading above 1 per cent higher.

    Here is how the indices were performing:

    Source: NSE
    09:27 (IST)12 Dec 2019
    Sensex: Gainers and losers in early trade

    On the Sensex, Yes Bank, Tata Motors, Hero MotoCorp, IndusInd Bank were the top gainers in the early trade on Thursday, while ONGC, Bharti Airtel and Infosys were among the top losers.

    Source: BSE
    09:20 (IST)12 Dec 2019
    Equity markets at open

    At 9:17 am, the S&P BSE Sensex was trading 133 points or 0.33 per cent higher at 40,545.62, while the Nifty 50 was at 11,947.60, up 37.45 points or 0.31 per cent.

    09:17 (IST)12 Dec 2019
    Global crude oil market update

    Oil prices edged higher on Thursday with the market mood switching to relief as OPEC forecast a supply deficit next year, from doom and gloom over data showing a surprise increase in US crude inventories.

    Brent futures rose 24 cents, or 0.4 per cent to $63.96 a barrel by 0242 GMT, after skidding 1 per cent on Wednesday on the US stocks build-up. West Texas Intermediate crude was down 10 cents, or 0.2 per cent, at $58.85 a barrel, following a 0.8 per cent drop the previous session.

    (Reuters)

    09:16 (IST)12 Dec 2019
    Global market update

    Asian stocks rose on Thursday to the highest in a month after the Federal Reserve signalled rate settings were likely to remain accommodative, but the imminent UK election and a deadline for Sino-US trade talks kept investors cautious.

    The Fed kept interest rates unchanged, as expected, at its policy meeting on Wednesday but indicated interest rates would remain on hold, which nudged Wall Street stocks higher.

    That helped MSCI's broadest index of Asia-Pacific shares outside Japan climb 0.8 per cent to the highest since November 11. Japan's Nikkei stock index rose 0.18 per cent and US stock futures edged up 0.1 per cent.

    (Reuters)

    On Wednesday, the S&P BSE Sensex rose 172.69 points or 0.43 per cent to settle at 40,412.57. On the other hand, the Nifty 50 gained 53.35 points or 0.45 per cent to end at 11,910.15.

    Among the sectoral indices on the NSE, the Nifty IT was the outperformer of the day as it settled 1.23 per cent higher aided by NIIT Technologies, Tech Mahindra and heavyweight Tata Consultancy Services (TCS). Apart from this, the Nifty Financial Services index rose 0.68 per cent on Wednesday led by gains in REC, SBI Life Insurance Company and Bajaj Finserv.