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Sunday, January 19, 2020

Stocks, Rupee, Commodity Market Highlights: Sensex slips 71 points, Nifty settles at 12,061; Metals, FMCG, autos drag

Share/Stock Market, Sensex, Nifty, BSE, NSE Share Price Highlights: All that happened in the equity, commodity and money markets on Monday.

By: Express Web Desk | New Delhi | Updated: December 16, 2019 5:33:09 pm
Benchmark equity indices on the BSE and National Stock Exchange (NSE) ended slightly lower on Monday.

Share/Stock Market, Sensex, Nifty Highlights: The benchmark equity indices on the BSE and the National Stock Exchange (NSE) snapped out of their three-day gaining streak and ended marginally lower on Monday.

The gains in the information technology (IT) stocks were outweighed by the weakness in metal, fast-moving consumer goods (FMCG) and automobile stocks.

After hitting a record high of 41,185.03 in the morning deals on Monday, the S&P BSE Sensex traded in a range during most of the day before slipping in the last 30 minutes of trade. The 31-share index eventually settled at 40,938.72, down 70.99 points or 0.17 per cent.

The Nifty 50 index slipped 26.00 points or 0.22 per cent to end at 12,060.70 on Monday.

Among the sectoral indices on the NSE, the Nifty IT index was the top gainer of the day on Monday, settling 1.03 per cent higher led by industry heavyweight Tata Consultancy Services (TCS), Tech Mahindra and HCL Technologies.

However, on the other hand, Nifty Metal index fell 1.32 per cent on Monday weighed by Steel Authority of India (SAIL), Tata Steel and Vedanta. It was closely followed by the Nifty FMCG index which ended 1.24 per cent lower weighed by the sector heavyweights ITC and Hindustan Unilever (HUL). The Nifty auto index too declined 0.99 per cent weighed by Mahindra & Mahindra (M&M), Hero MotoCorp and Maruti Suzuki India.

Rupee

The rupee reversed all its early gains and settled 17 paise down at 71.00 against the US currency on Monday, following rising crude oil prices and fag-end selling in domestic equities.

Crude oil

Brent crude oil futures rose 17 cents or 0.3 per cent to $65.39 a barrel by 0940 GMT, while West Texas Intermediate crude was up 10 cents or 0.2 per cent to $60.17 a barrel.

(with inputs from agencies)

Live Blog

Everything that took place in the markets on Monday including stocks, shares, rupee, commodity, gold, silver, crude oil prices:

Highlights

    17:24 (IST)16 Dec 2019
    Rupee at close

    Rupee pares morning gains; settles 17 paise down at 71.00 vs US dollar.

    (PTI)

    16:01 (IST)16 Dec 2019
    Vinod Nair, Head of Research at Geojit Financial Services on Monday's market movement

    "Inflationary pressure and static manufacturing activity impacted the sentiment while trade deal optimism buoyed global market. Global factors are likely to be more supportive in the near term and market anticipates a better economic growth in coming years which is giving support in every consolidation. Investors are also keenly waiting for the upcoming GST council meet to get any cues on overcoming revenue shortfall"

    15:41 (IST)16 Dec 2019
    Equity markets at close

    After hitting a record high of 41,185.03 in the morning deals on Monday, the S&P BSE Sensex traded in a range during most of the day before slipping in the last 30 minutes of trade. The 31-share index eventually settled at 40,938.72, down 70.99 points or 0.17 per cent.

    The Nifty 50 index slipped 26.00 points or 0.22 per cent to end at 12,060.70 on Monday.

    15:20 (IST)16 Dec 2019
    Silver futures rise Rs 296 to Rs 44,422 per kg

    Silver futures on Monday traded higher by Rs 296 to Rs 44,422 per kg as speculators raised their bets, driven by a firm trend overseas.

    Silver contracts for March delivery rose by Rs 296, or 0.67 per cent, to Rs 44,422 per kg in a business turnover of 11,746 lots on the Multi Commodity Exchange. Besides, the white metal for May delivery shot up by Rs 388, or 0.87 per cent, to Rs 44,913 per kg in 205 lots.

    Analysts said widening of positions by traders in sync with a firm trend overseas for precious metals mainly influenced silver prices here.

    In the international market, silver traded 0.22 per cent higher at USD 17.05 an ounce in New York.

    (PTI)

    15:19 (IST)16 Dec 2019
    Gold futures rise Rs 87 to Rs 37,860 per 10 gm

    Gold prices on Monday rose Rs 87 to Rs 37,860 per 10 gram in futures trade as speculators widened their bets on spot demand.

    On the Multi Commodity Exchange, gold contracts for February delivery traded higher by Rs 87, or 0.23 per cent, at Rs 37,860 per 10 gram in a business turnover of 16,061 lots. Gold for delivery in April next year also edged up by Rs 117, or 0.31 per cent, to Rs 37,923 per 10 gram in 3,021 lots.

    Analysts said the rise in gold prices was mostly on the back of fresh positions built up by participants on spot demand.

    However, gold price was quoting 0.10 per cent down at USD 1,479.70 an ounce in New York.

    (PTI)

    15:16 (IST)16 Dec 2019
    Crude oil futures gain on spot demand, global cues

    Crude oil prices on Monday gained Rs 14 to Rs 4,255 per barrel as speculators created fresh positions amid positive trend in spot market.

    Analysts said fresh bets created by participants kept crude prices higher in futures trade.

    On the Multi Commodity Exchange, crude for delivery in December traded higher by Rs 14, or 0.33 per cent, to Rs 4,255 per barrel in 28,028 lots.

    Globally, West Texas Intermediate crude oil was trading 0.02 per cent up at USD 60.08 per barrel. Meanwhile, Brent crude, the international benchmark, rose 0.14 per cent to USD 65.31 per barrel in New York.

    (PTI)

    15:15 (IST)16 Dec 2019
    Nickel futures dip on soft demand

    Nickel futures on Monday declined by Rs 5.60 to Rs 1,027 per kg due to reducing of positions by speculators amid sluggish demand in spot market.

    On the Multi Commodity Exchange, nickel contracts for December delivery fell by Rs 5.60, or 0.54 per cent, at Rs 1,027 per kg with a business turnover of 1,849 lots. Similarly, nickel contracts for January delivery fell by Rs 6, or 0.58 per cent, to Rs 1,022 per kg in 263 lots.

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

    (PTI)

    15:14 (IST)16 Dec 2019
    Copper futures rise on spot demand

    Copper prices on Monday traded up by Rs 2.25 to Rs 442.25 per kg in futures trade on pick-up in spot demand.

    On the Multi Commodity Exchange, copper contracts for December delivery traded higher by Rs 2.25, or 0.51 per cent, to Rs 442.25 per kg in a business turnover of 5,887 lots. Similarly, the metal for delivery in January edged up by Rs 1.95, or 0.44 per cent, to Rs 447 per kg in 793 lots.

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

    (PTI)

    15:11 (IST)16 Dec 2019
    Soybean futures rise on firm demand

    Soybean prices on Monday rose by Rs 14 to Rs 4,222 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 January was up by Rs 14, or 0.33 per cent, to Rs 4,222 per quintal with an open interest of 1,82,935 lots. Soybean for delivery in February rose by Rs 16, or 0.38 per cent, to Rs 4,252 per quintal having an open interest of 1,15,790 lots.

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

    (PTI)

    15:09 (IST)16 Dec 2019
    Mustard seed futures rise amid limited supplies

    Mustard seed prices on Monday rose by Rs 27 to Rs 4,488 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 in spot market mainly lifted mustard seed prices here.

    On the National Commodity and Derivatives Exchange, mustard seed for delivery in December rose Rs 27, or 0.61 per cent, to Rs 4,488 per quintal with an open interest of 3,930 lots. Similarly, the delivery for January gained Rs 38, or 0.85 per cent, to Rs 4,512 per quintal with an open interest of 17,340 lots.

    (PTI)

    15:08 (IST)16 Dec 2019
    Coriander futures slip on low demand

    Coriander prices on Monday fell by Rs 42 to Rs 6,498 per quintal in futures trade as speculators reduced their positions amid weak demand in spot market.

    On the Multi Commodity Exchange, coriander contracts for January fell by Rs 42, or 0.64 per cent, to Rs 6,498 per quintal in 8,200 lots. Similarly, coriander contracts for April delivery declined by Rs 46, or 0.67 per cent, to Rs 6,800 per quintal in 4,120 lots.

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

    (PTI)

    15:06 (IST)16 Dec 2019
    Guar gum futures fall on sluggish demand

    Guar gum prices on Monday declined by Rs 59 to Rs 7,050 per five quintal in futures market 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 59, or 0.83 per cent, to Rs 7,050 per five quintal in 2,040 lots. Guar gum contracts for January delivery eased by Rs 54, or 0.75 per cent, to Rs 7,129 per five quintal in 61,775 lots.

    (PTI)

    14:47 (IST)16 Dec 2019
    Global market update

    World stock markets rose on Monday, trading a notch below a record high hit last week on the back of a preliminary trade deal agreed between the United States and China.

    European shares built on the previous week's gains at the open. In early deals, the pan-European STOXX 600 index was up by 1 per cent and hit a record high. Germany's DAX rose 0.5 per cent. Britain's FTSE 100 index was up 1.14 per cent, moving in tandem with the pound which rose 0.4 per cent. US stock futures also pointed to stronger gains to start the week, with the S&P 500 e-minis up 0.3 per cent.

    Earlier in Asia, MSCI's broadest index of Asia-Pacific shares outside Japan to its highest level since April 18. It was last up 0.13 per cent. Australia's S&P/ASX 200 led the way as it jumped 1.63 per cent, while shares in Taiwan added 0.22 per cent. Japan's Nikkei 225 succumbed to some profit-taking, falling 0.29 per cent after surging 2.55 per cent to a 14-month closing high on Friday.

    (Reuters)

    14:39 (IST)16 Dec 2019
    Essar Steel resolution to boost Q3 number: SBI chief

    State Bank of India Chairman Rajnish Kumar on Monday said the resolution of Essar Steel will boost profitability in the third quarter of the current financial year.

    Besides, resolution of other stressed assets which are in the pipeline will have positive impact in the fourth quarter, he said.

    The resolution of Essar Steel is a huge positive for the economy, he said. Click here to read the report

    13:41 (IST)16 Dec 2019
    India’s weak household consumption to curb economic growth: Moody’s

    Moody’s Investors Service on Monday said that India’s weak household consumption will curb economic growth and weigh on the credit quality of Indian issuers in a range of sectors.

    Moody’s has lowered its GDP growth projection for India for the fiscal year ending March 2020 to 4.9 per cent from 5.8 per cent.

    The major factors responsible for weakening economic growth were rural financial stress, low job creation and liquidity constraints, Moody’s Investors Service said in a report. Click here to read the report

    13:25 (IST)16 Dec 2019
    RBI saw growth slowdown, acted ahead of time by cutting rates from February: Shaktikanta Das

    RBI Governor Shaktikanta Das on Monday said the central bank had acted ahead of time by starting to slash rates in February this year, and hoped the decision to pause the cuts earlier this month will prove to be a right call over time.

    He also hoped for the US-China truce on trade tariffs, announced over the weekend, would last as he pitched for coordinated efforts to push global growth like those after the 2008 financial crisis. Click here to read the report

    12:55 (IST)16 Dec 2019
    Wholesale inflation rises 0.58 per cent in November

    India’s Wholesale Price Index (WPI) inflation rose to 0.58 per cent during the month of November 2019, according to data released by the Ministry of Commerce & Industry.

    The wholesale inflation in the month of October 2019 was at 0.16 per cent and 4.47 per cent during the corresponding month of the previous year, the data showed. Click here to read the complete report

    12:15 (IST)16 Dec 2019
    WPI inflation

    WPI inflation rises to 0.58 per cent in Nov from 0.16 per cent in Oct: Govt data.

    (PTI)

    12:07 (IST)16 Dec 2019
    Market check at noon

    Here's how the key BSE indices were performing in noon deals:

    Source: BSE
    11:45 (IST)16 Dec 2019
    Punjab National Bank shares fall nearly 3 per cent after RBI flags under-reporting of NPAs

    Shares of Punjab National Bank (PNB) declined as much as 2.87 per cent on the National Stock Exchange (NSE) after the Reserve Bank of India (RBI) said the bank had under-reported its non-performing assets (NPAs) by Rs 2,617 crore for the fiscal year 2018-19.

    Shares of the public sector lender dropped 2.87 per cent to Rs 62.60 on the NSE, while on the BSE it fell as much as 2.79 per cent to Rs 62.65. Click here to read the report

    11:19 (IST)16 Dec 2019
    Sector watch: Japan’s Mitsui reroutes curry back to India as it ups consumer portfolio

    Japanese trading major Mitsui & Co is diversifying beyond its traditional investments in industrial sectors such as steel, power infrastructure, chemicals and logistics to the retail and services in India, starting with an entry into the restaurant business. Mitsui, one of Japan’s largest sogo shosha — or general trading companies — which operates in 66 countries in businesses ranging from oil and natural gas to healthcare, is eyeing the consumer business as the new growth area in India and could also be looking at fresh food supplies to the upcoming entry into India of the 7-Eleven stores — the Japanese-owned, Dallas-headquartered chain of convenience stores which operates 69,000 outlets in 17 countries. Click here to read the report

    10:54 (IST)16 Dec 2019
    Brookfield Infrastructure Partners to invest Rs 25,215 crore in telecom tower assets of RIL

    Canada’s Brookfield Infrastructure Partners LP will invest Rs 25,215 crore in telecom tower assets of Reliance Industries, the Indian firm said on Monday. Click here to read the report

    10:36 (IST)16 Dec 2019
    Lenders didn’t verify title of Karvy Stock Broking’s pledged securities: Sebi

    In a major setback to lenders, the Securities and Exchange Board of India (Sebi) has said lenders — ICICI Bank, HDFC Bank, IndusInd Bank and Bajaj Finance — did not verify the title of securities unauthorisedly pledged by Karvy Stock Broking (KSBL) and they merely relied on the representation of KSBL while giving loans to the broking firm.

    Sebi had, in a late evening order on Friday, rejected the plea of lenders to return the clients’ shares pledged by Karvy. The regulator also suggested that the remedy for lenders “lies against KSBL before civil court of competent jurisdiction”. Click here to read the report

    10:28 (IST)16 Dec 2019
    Sitharaman to hold pre-Budget consultations with stakeholders from December 16

    Beginning the customary pre-Budget consultation exercise from Monday, Finance Minister Nirmala Sitharaman will seek inputs from various stakeholders including industry bodies, farmer organisations and economists for reviving consumption and boosting growth.

    Sitharaman is likely to present her second Budget for the Modi 2.0 government in Parliament on February 1.

    Sources said the pre-Budget consultations starting Monday will last till December 23. Click here to read the report

    10:14 (IST)16 Dec 2019
    Dec 31 last date to link PAN, Aadhaar

    The income Tax Department, in a public message on Sunday, announced that it is mandatory for taxpayers to link their PAN with Aadhaar by the end of this year. “Building a better tomorrow! To reap seamless benefits of income tax services, complete the vital link before 31st December, 2019,” the department said.

    The message, which comes two weeks before the deadline, said it is mandatory to link your PAN with Aadhaar.

    Earlier this year, the Central Board of Direct Taxes (CBDT) issued an order stating that the deadline to link the permanent account number (PAN) with Aadhaar was extended till December 31. Previously, the deadline for this linkage was September 30. The CBDT frames policy for the I-T Department. Click here to read the complete story

    09:58 (IST)16 Dec 2019
    Rupee gains in early trade

    Rupee rises 8 paise to 70.75 against US dollar in early trade.

    (PTI)

    09:43 (IST)16 Dec 2019
    Global market update

    Asian shares moved higher on Monday as investors welcomed a trade agreement between Beijing and Washington over the weekend, but enthusiasm was capped by lingering scepticism about the deal and ongoing relations between China and the United States.

    US Trade Representative Robert Lighthizer on Sunday said a deal was "totally done", notwithstanding some needed revisions, and would nearly double US exports to China over the next two years.

    That helped push the MSCI's broadest index of Asia-Pacific shares outside Japan, which had touched its highest level since April 24 on Friday, up 0.27 per cent.

    Australia's S&P/ASX 200 led the way as it jumped 1.24 per cent, while shares in Taiwan and South Korea added about 0.1 per cent.

    But Chinese investors had a more tepid reaction, pulling the benchmark Shanghai Composite index down 0.16 per cent as investors took profits following a 1.8 per cent gain on Friday.

    (Reuters)

    09:38 (IST)16 Dec 2019
    Nifty IT gains over 0.75 per cent in early trade

    The Nifty IT index on the National Stock Exchange (NSE) was up 0.78 per cent in opening trade led by gains in the share prices of HCL Technologies, Tech Mahindra, MindTree and Tata Consultancy Services (TCS).

    Source: NSE
    09:32 (IST)16 Dec 2019
    BSE Sensex: Gainers and losers in early trade

    On the Sensex, gains were led by Kotak Mahindra Bank, HCL Technologies, Tech Mahindra, Bajaj Auto and Tata Consultancy Services (TCS) in the early trade on Monday.

    Source: BSE
    09:28 (IST)16 Dec 2019
    Equity markets at open

    At 9:15 am, the S&P BSE Sensex was up 110.49 points or 0.27 per cent at 41,120.20 while the broader Nifty 50 was trading at 12,115.70, up 29.00 points or 0.24 per cent.

    On Friday, the S&P BSE Sensex surged 428.00 points or 1.05 per cent to settle at 41,009.71, while the broader Nifty 50 ended at 12,086.70, up 114.90 points or 0.96 per cent.

    The gains on the Sensex were led by Axis Bank, Vedanta, State Bank of India (SBI), IndusInd Bank and Maruti Suzuki India. On the other hand, Bharti Airtel, Kotak Mahindra Bank and Bajaj Auto were among the top losers of the day.