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Thursday, June 04, 2020

Market Highlights: Sensex slips 208 points, Nifty ends at 12,107; Metals, auto stocks drag

Share Market, Stock Market Highlights: All that happened in equity, commodity and money markets.

By: Express Web Desk | New Delhi | Updated: January 22, 2020 4:30:36 pm
Share Trading at a firm in Kolkata. (Express photo by Partha Paul)

Share/Stock Market Highlights: The benchmark equity indices on the BSE and National Stock Exchange (NSE) ended lower for the third straight session after they settled around 0.5 per cent on Wednesday due to weakness in energy, power, auto and financial stocks.

The S&P BSE Sensex ended at 41,115.38, down 208.43 points (0.50 per cent), while the Nifty 50 fell 62.95 points (0.52 per cent) at 12,106.90.

Among the sectoral indices on the NSE, the Nifty Metal index cracked 1.54 per cent on Wednesday weighed by Coal India and Jindal Steel & Power. The Nifty Auto index slipped 0.93 per cent dragged by Tata Motors and Maruti Suzuki India.

In the broader market, the S&P BSE MidCap index settled at 15,536.63, down 50.04 points or 0.32 per cent, while the S&P BSE SmallCap index ended at 14,633.16, down 18.60 points or 0.13 per cent.

(with inputs from agencies)

Live Blog

Stocks, BSE Sensex, NSE Nifty, Crude oil prices, gold, silver prices, commodity market and money markets LIVE updates:

16:30 (IST)22 Jan 2020
Nagaraj Shetti, Technical Research Analyst, HDFC Securities on the Nifty

After showing a weakness within a small range in the last session, the Nifty failed to sustain the opening intraday gains today, as slipped into a reasonable weakness and closed the day lower. A long negative candle was formed today, that has entered the crucial gap area of 12,044-12,132 levels of 9th Jan. Technically, today's pattern indicates a down trend continuation pattern.

The longer term uptrend status like higher tops and bottoms is still intact. The Nifty sustaining above the support of 12,044 levels could be a part of a higher bottom formation."

16:24 (IST)22 Jan 2020
Vinod Nair, Head of Research, Geojit Financial Services on Wednesday's market performance

"Banks, Auto & Midcaps are consolidating due to marginal slippage in NPAs & earnings growth than anticipated earlier. The Q3 result had solid expectations but actual results are marginally below expectation for sectors like IT and Banks, this is impacting the market. A lot will depend on the actual outcome of Budget for further direction, market is turning cautious before the big event."

16:13 (IST)22 Jan 2020
Equity markets at close

The S&P BSE Sensex ended at 41,115.38, down 208.43 points (0.50 per cent), while the Nifty 50 fell 62.95 points (0.52 per cent) at 12,106.90.

15:53 (IST)22 Jan 2020
BSE to be open for trade on Budget day

The BSE will be open for regular trade on the day of Union Budget 2020-21 which is on February 1, a Saturday this year, the stock exchange said in a circular on Tuesday. However, there will not be Auction Session for Settlement, the exchange informed in an update on Wednesday. Click here to read

14:36 (IST)22 Jan 2020
Silver futures ease on low demand

Silver futures on Wednesday slumped by Rs 60 to Rs 46,083 per kg as participants cut down their bets amid subdued global trend.

On the Multi Commodity Exchange, silver contracts for March delivery tumbled by Rs 60, or 0.13 per cent, to Rs 46,083 per kg in a business turnover of 3,228 lots. Besides, the white metal to be delivered in May fell by Rs 103, to Rs 46,581 per kg in 73 lots.

In the international market, silver prices traded 0.35 per cent lower at USD 17.75 an ounce in New York.

(PTI)

14:36 (IST)22 Jan 2020
Nickel futures rise 1.08 pc on strong demand

Nickel prices on Wednesday edged up by Rs 11 to Rs 1,026.50 per kg in futures trade as speculators built positions on rising demand from alloy-makers at spot market.

On the Multi Commodity Exchange, nickel contracts for January delivery gained Rs 11, or 1.08 per cent, to Rs 1,026.50 per kg in a business turnover of 3,325 lots. Similarly, the metal for February delivery traded higher by 11.10, or 1.11 per cent, to Rs 1,014.60 per kg in a business turnover of 224 lots.

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

(PTI)

14:36 (IST)22 Jan 2020
Gold futures slip Rs 105 to Rs 39,806 per 10 gm

Gold prices on Wednesday fell by Rs 105 to Rs 39,806 per 10 gram in futures trade as participants cut down their positions in line with a weak trend overseas.

On the Multi Commodity Exchange, gold prices for delivery in February fell by Rs 105, or 0.26 per cent, to Rs 39,806 per 10 gram in a business turnover of 1,373 lots. The yellow metal for April delivery slumped Rs 136, or 0.34 per cent, to Rs 39,895 per 10 gram in 124 lots.

Analysts said subdued overseas cues influenced sentiments here.

Globally, gold was trading 0.46 per cent lower at USD 1,550.70 an ounce in New York.

(PTI)

13:30 (IST)22 Jan 2020
Common infra for 5G technology could help private telecom companies: TRAI chief

Telecom Regulatory Authority of India (TRAI) Chairman R S Sharma has called for ‘unbundling of infrastructure and investments’ for different services in the telecom sector, adding that it could be one way of distributing investments needed for 5G technology. Click here to read the story

11:28 (IST)22 Jan 2020
NSE emerges world’s largest derivatives exchange in 2019

The National Stock Exchange of India Ltd (NSE) on Tuesday said it emerged as the world’s largest derivatives exchange in 2019 by number of contracts traded, surpassing the CME Group, Chicago, based on the statistics published by Futures Industry Association (FIA), a derivatives trade body. Click here to read the story

11:18 (IST)22 Jan 2020
Direct tax collections fall 5% till Jan 15

In what amplified the worries over the government’s ability to stick to the fiscal consolidation path, direct tax collections till January 15 stood at Rs 7.3 lakh crore, down 5.2 per cent from the year-ago period. There is no precedent of a contraction in direct tax growth at least in recent history. Click here to read

11:14 (IST)22 Jan 2020
Will continue to probe Bhushan Power; IBC ordinance won’t shelter JSW: ED

In a fresh twist to the insolvency proceedings of Bhushan Power and Steel, the ED has decided to continue its investigation against the company and its former promoters, sources close to the development said. Click here to read

11:07 (IST)22 Jan 2020
Bharti Airtel shares hit 52-week high as DoT approves 100% FDI in the company

Shares of Bharti Airtel climbed to a 52-week high on the BSE and National Stock Exchange (NSE) during the intraday trade on Wednesday after the telecom firm said that it has received the approval of the Department of Telecom (DoT) for raising foreign direct investment (FDI) in the company to 100 per cent. Click here to read the complete story

10:56 (IST)22 Jan 2020
Telecom firms get some time on dues to Govt

IN A reprieve to telecom companies Bharti Airtel, Vodafone Idea, and Tata Group’s Tata Teleservices, the Supreme Court Tuesday agreed to hear their plea seeking permission to negotiate the timeline for payment of adjusted gross revenues (AGR) with the Department of Telecommunications next week. Click here to read the story

09:41 (IST)22 Jan 2020
NSE sectoral indices update

The Nifty Bank pared some of its opening gains and was trading marginally higher within 30 minutes of the opening bell. The Nifty IT index climbed over 1 per cent.

Here's how all other key sectoral indices on the National Stock Exchange (NSE) are performing:

Source: NSE
09:36 (IST)22 Jan 2020
Rupee in early trade

Rupee rises 3 paise to 71.18 against US dollar in opening trade.

(PTI)

09:28 (IST)22 Jan 2020
Equity markets at open

At 9:16 am, the S&P BSE Sensex was trading at 41,525.38, up 201.57 points (0.49 per cent) and the Nifty 50 was up 53.40 points (0.44 per cent) at 12,223.25.

On Tuesday, the S&P BSE Sensex declined 205.10 points (0.49 per cent) to settle at 41,323.81, while the Nifty 50 ended at 12,169.85, down 54.70 points (0.45 per cent).

Among the sectoral indices on NSE, the Nifty Auto index fell 1.28 per cent on Tuesday driven by Mahindra & Mahindra (M&M), Tata Motors and Maruti Suzuki India. This apart, the Nifty Metal index too slipped 1.27 per cent weighed by Tata Steel.