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Stocks, Rupee, Commodity Market Highlights: Sensex jumps 428 points, Nifty ends at 12,087; PSU banks surge

Share Market, Sensex, Nifty, BSE, NSE Share Price Highlights: Everything that happened in stocks, commodities and money markets on Friday.

By: Express Web Desk | New Delhi | Updated: December 13, 2019 5:36:15 pm
Benchmark indices on the BSE and National Stock Exchange (NSE) rose around 1 per cent on Friday.

Share Market, Sensex, Nifty, BSE, NSE Share Price Highlights: The frontline equity indices on the BSE and National Stock Exchange (NSE) settled higher for the third successive day, rising by around 1 per cent on Friday taking cues from the global markets which gained as the prospect of a China-US trade deal and an election victory for UK’s Brexit-backing Conservative Party cleared two of the darkest clouds on the global investment horizon.

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.

On Friday, 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.

Among the sectoral indices on NSE, the Nifty PSU Bank index was the top gainer of the day after it jumped 4.03 per cent led by Union Bank of India, Oriental Bank of Commerce and SBI. PSU banks were followed by the Nifty Metal index, which settled 2.26 per cent higher on Friday led by Vedanta and Tata Steel.

The broader market indices on the BSE were slightly behind their benchmark peer – the Sensex on Friday. The S&P BSE MidCap index ended at 14,830.40, up 134.73 points or 0.92 per cent, while the S&P BSE SmallCap rose 108.68 points or 0.82 per cent to settle at 13,332.66.

Rupee

The rupee retreated from the day’s high levels to close flat at 70.83 to the US dollar on Friday as surging crude oil prices after reports that the US and China have agreed on a partial trade deal weighed on the unit.

Crude oil

Brent crude, the global benchmark, climbed to $64.95 a barrel, the highest since September 23, and as of 1000 GMT was up 71 cents at $64.91. US West Texas Intermediate crude gained 52 cents to $59.70.

(with inputs from agencies)

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Highlights

    17:03 (IST)13 Dec 2019
    Vegetable oil imports down marginally to 11.28 lakh tonne in November

    Vegetable oil imports fell marginally to 11.28 lakh tonne in November due to decline in inward shipments of non-edible oil, according to Solvent Extractors’ Association.

    Out of the total vegetable oil import, the shipments of edible oil rose to 10,97,424 tonne in November 2019 from 10,73,353 tonne in the same month last year. Click here to read the report

    16:29 (IST)13 Dec 2019
    Anand Rathi Shares & Stock Brokers on Friday's market performance

    "Indian markets shrugged off the higher inflation numbers released post market yesterday and opened in green taking positive cues from Asian markets after news of US and China agreeing to a 'phase one' trade deal in principle. During the day the markets continued to trade higher as domestic sentiments further improved following comments by Government on steps being undertaken by it to improve growth. Also, the announcement of press conference by finance minister in afternoon, estimating some positive announcements further boosted the sentiment of traders which led broader gains.

    On sectoral front, the rally was led by banks and financials with PSU banks leading the pack followed by Metals, Realty and Auto amongst others while defensive sector like Pharma remain flat," Narendra Solanki, Head Fundamental Research (Investment Services) - AVP Equity Research, Anand Rathi Shares & Stock Brokers wrote in a statement.

    16:02 (IST)13 Dec 2019
    Vinod Nair, Head of Research at Geojit Financial Services on Friday's market rally

    "Market continued its winning streak fuelled by trade deal optimism and positive cues from UK election. Global growth sentiment helped domestic indices to subside weak CPI & industrial data in the near term. Mid & small cap also participated in today’s rally, we believe this potential change in risk appetite may help investors to look beyond the polarised market."

    15:42 (IST)13 Dec 2019
    BSE Sensex: Gainers and losers of the day

    On Friday, 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.

    Here's how the Sensex stocks performed:

    Source: BSE
    15:37 (IST)13 Dec 2019
    Equity markets at close 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.

    15:34 (IST)13 Dec 2019
    Global market update

    Stocks rose and the pound gained on Friday as the prospect of a China-US trade deal and an election victory for Britain's Brexit-backing Conservative Party cleared two of the darkest clouds on the global investment horizon.

    Europe's pan-regional STOXX 600 share market jumped 1.5 per cent higher on the twin boosts. In Asia, Japan's Nikkei climbed 2.5 per cent to a 14-month top. Shanghai blue chips advanced 2 per cent. MSCI's broadest index of Asia-Pacific shares outside Japan jumped 1.5 per cent to its highest since late April.

    (Reuters)

    15:24 (IST)13 Dec 2019
    Gold futures rise Rs 56 to Rs 37,600 per 10 gm

    Gold prices on Friday rose Rs 56 to Rs 37,600 per 10 gram in futures trade as speculators widened their bets on spot demand and a positive trend overseas.

    On the Multi Commodity Exchange, gold contracts for February delivery traded higher by Rs 56, or 0.15 per cent, at Rs 37,600 per 10 gram in a business turnover of 16,002 lots. Gold for delivery in April next year also edged up by Rs 59, or 0.16 per cent, to Rs 38,633 per 10 gram in 2,695 lots.

    Analysts said the rise in gold prices was mostly on the back of fresh positions built up by participants on strong overseas trend.

    Globally, gold price was quoting 0.22 per cent up at USD 1,475.50 an ounce in New York.

    (PTI)

    15:22 (IST)13 Dec 2019
    Silver futures advance on fresh bets

    Silver futures on Friday rose by Rs 152 to Rs 44,078 per kg as investors raised their positions supported by positive global trend.

    Silver contracts to be delivered in March were trading higher by 0.35 per cent, or Rs 152, to Rs 43,078 per kg in 12,845 lots on the Multi Commodity Exchange.

    In the international market, silver was 0.27 per cent up at USD 17 an ounce in New York.

    (PTI)

    15:21 (IST)13 Dec 2019
    Crude oil futures gain on spot demand, global cues

    Crude oil prices on Friday gained Rs 5 to Rs 4,205 per barrel as speculators created fresh positions amid positive trend at 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 5, or 0.12 per cent to Rs 4,205 per barrel in 27,180 lots.

    Globally, West Texas Intermediate crude oil was trading 0.64 per cent up at USD 59.56 per barrel. Meanwhile, Brent crude, the international benchmark rose 0.87 per cent to USD 64.17 per barrel in New York.

    (PTI)

    15:19 (IST)13 Dec 2019
    SpiceJet grounds three B737 freighter planes

    SpiceJet on Friday said it has grounded three Boeing 737 freighter aircraft due to a “potential defect”.

    The move follows an advice from Israeli Aerospace Industries (IAI), which had converted these planes into freighters, according to a regulatory filing. Click here to read more

    15:01 (IST)13 Dec 2019
    Lead futures gain marginally on fresh bets

    Lead prices on Friday traded higher by 50 paise to Rs 153.70 per kg in futures trade as participants built up fresh positions driven by pick-up in demand at spot market.

    On the Multi Commodity Exchange, lead for delivery in December edged higher by 50 paise, or 0.33 per cent, to Rs 153.70 per kg in a business volume of 934 lots.

    Market analysts said fresh positions created by traders due to upsurge in demand by battery-makers in physical market mainly helped lead prices to trade higher.

    (PTI)

    14:59 (IST)13 Dec 2019
    Copper futures up on spot demand

    Copper prices on Friday rallied by Rs 2.15 to Rs 444.10 per kg in futures trade on pick-up in spot demand.

    On the Multi Commodity Exchange, copper contracts for delivery in December traded higher by Rs 2.15, or 0.49 per cent, to Rs 444.10 per kg in a business turnover of 6,220 lots. Similarly, the metal for delivery in January edged up by Rs 2.05, or 0.46 per cent, to Rs 448.45 per kg in 719 lots.

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

    (PTI)

    14:58 (IST)13 Dec 2019
    Aluminium futures rise on spot demand

    Aluminium prices on Friday edged up 0.41 per cent to Rs 134.05 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 55 paise, or 0.41 per cent, to Rs 134.05 per kg in a business turnover of 1,610 lots.

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

    (PTI)

    14:57 (IST)13 Dec 2019
    Zinc futures rise on positive demand

    Zinc prices on Friday rose 0.52 per cent to Rs 183.65 per kg in futures market as traders built up fresh positions amid increase in spot demand.

    On the Multi Commodity Exchange, zinc for delivery in December traded higher by 95 paise, or 0.52 per cent, to Rs 183.65 per kg in a business turnover of 3,218 lots.

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

    (PTI)

    14:05 (IST)13 Dec 2019
    Coriander futures slip on low demand

    Coriander prices on Friday fell by Rs 42 to Rs 7,015 per quintal in futures trade as speculators reduced their positions amid weak demand at spot market.

    On the Multi Commodity Exchange, coriander contracts for December fell by Rs 42, or 0.6 per cent, to Rs 7,015 per quintal in 4,240 lots. However, coriander contracts for January delivery rose by Rs 23, or 0.35 per cent, to Rs 6,630 per quintal in 7,950 lots.

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

    (PTI)

    13:59 (IST)13 Dec 2019

    On the Sensex, the rally was led by Vedanta, Axis Bank, State Bank of India (SBI) and Tata Consultancy Services (TCS). Here's how the indices were performing:

    Source: BSE
    13:37 (IST)13 Dec 2019
    Soybean futures rise on firm demand

    Soybean prices on Friday rose by Rs 18 to Rs 4,248 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 18, or 0.43 per cent, to Rs 4,248 per quintal with an open interest of 17,805 lots.

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

    (PTI)

    13:36 (IST)13 Dec 2019
    Guar gum futures up on spot demand

    Guar gum prices on Friday gained Rs 43 to Rs 7,192 per five quintal in futures trade as investors increased their holdings on spot demand.

    Analysts said tracking a firm physical market trend, traders opted to raise their bets which led to rise in guar gum prices.

    On the National Commodity and Derivatives Exchange, guar gum delivery for December contracts jumped Rs 43, to Rs 7,192 per five quintal with an open interest of 2,905 lots. Likewise, the delivery of January contract surged by Rs 10, to Rs 7,260 per five quintal as open interest stood at 62,015 lots.

    (PTI)

    13:33 (IST)13 Dec 2019
    Moody’s cuts India’s GDP growth forecast to 5.6 per cent for 2019

    Moody’s Investors Service on Friday said it has lowered its 2019 GDP growth forecast for India to 5.6 per cent as slow employment growth weighs on consumption.

    It expects economic growth to pick up in 2020 and 2021 to 6.6 per cent and 6.7 per cent respectively, but sees the pace of growth remaining lower than past. Click here to read the complete story

    13:18 (IST)13 Dec 2019
    Mustard seed futures rise amid limited supplies

    Mustard seed prices on Friday rose by Rs 16 to Rs 4,462 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 16, or 0.36 per cent, to Rs 4,462 per quintal with an open interest of 5,030 lots. Similarly, the delivery for January gained Rs 11, or 0.25 per cent, to Rs 4,479 per quintal with an open interest of 15,290 lots.

    (PTI)

    13:16 (IST)13 Dec 2019
    Bank of Baroda shares climb 3 per cent after share purchase agreement with Ansa Merchant Bank

    Shares of Bank of Baroda on Friday climbed over 3 per cent after the company signed a share purchase agreement with Ansa Merchant Bank to sell the business of Bank of Baroda Trinidad & Tobago.

    The scrip jumped 3.42 per cent to Rs 101.25 on the BSE. On the NSE, it gained 3.47 per cent to Rs 101.30. Click here to read the entire report

    12:51 (IST)13 Dec 2019
    Gold smuggling on the rise as high prices boost appeal in India

    Surging gold prices in India are keeping customs officials on their toes.

    Illegal inflows have jumped after the Indian government increased import taxes in July and prices surged to record highs in September. Customs officials have arrested people for attempting to smuggle in gold by concealing it in bags, clothes and their rectums. On one flight alone, officials caught 30 passengers trying to smuggle in 7.5 kilograms (16.5 pounds) of gold into Chennai. Click here to read the complete report

    12:16 (IST)13 Dec 2019
    News Update | Trump says Britain, US free to strike new trade deal after Brexit

    US President Donald Trump congratulated British Prime Minister Boris Johnson on the latter's election win and said that Britain and the United States will now be free to strike a 'massive' new trade deal after Brexit.

    "This deal has the potential to be far bigger and more lucrative than any deal that could be made with the E.U. Celebrate Boris," Trump said in a tweet early on Friday.

    (Reuters)

    12:07 (IST)13 Dec 2019
    Five months after names proposed, no full-time CMDs for GIC Re & AIC

    General Insurance Corporation (GIC Re) and Agricultural Insurance Corporation of India (AIC) — two key public sector insurers in India — have been functioning without a full-time Chairman and Managing Director for nearly five months, with the government yet to clear the candidates selected for the post.

    The government has now appointed Reena Bhatnagar and Deepak Prasad, both general managers, to jointly look after the financial administrative functions of GIC Re till a new CMD is appointed or till further orders. The CMD post has been vacant since Alice Vaidyan superannuated on July 31. Sashikala Muralidharan, GM, Whole-time Director and CFO, who was looking after the functions of the CMD, also superannuated on November 30. Click here to read the story

    12:05 (IST)13 Dec 2019
    BSE indices check at noon

    At noon, the S&P BSE Sensex was up 317.54 points or 0.78 per cent. Apart from this, the BSE Sensex 50 was up 0.74 per cent. Here's how the key indices on the BSE were performing in the noon deals:

    Source: BSE
    11:50 (IST)13 Dec 2019
    Global crude oil market update

    Oil prices extended gains on Friday, scaling three-month highs as the United States and China moved closer to a resolution to the 18-month trade war between the world's two biggest economies that has raised big questions about global demand for crude.

    Brent futures climbed 43 cents, or 0.7 per cent, to $64.63 a barrel by 0426 GMT, its highest since September 23.
    West Texas Intermediate (WTI) crude was up 31 cents, or 0.5 per cent, to $59.49 a barrel, the highest since September 16.

    (Reuters)

    11:47 (IST)13 Dec 2019
    DBS sees slow recovery for Indian economy

    Singapore’s DBS Banking group has cut India’s GDP growth forecast for this fiscal to 5 per cent from 5.5 per cent earlier and said that it will be a slow climb to recovery for the economy.

    The financial services major said that this year’s narrative on the Indian economy was dominated by a sharp deceleration in economic activity and persistent financial sector stress. Click here to read the story

    11:23 (IST)13 Dec 2019
    Trump approves US-China trade deal to halt December 15 tariffs

    President Donald Trump signed off on a phase-one trade deal with China, averting the Dec. 15 introduction of a new wave of US tariffs on about $160 billion of consumer goods from the Asian nation, according to people familiar with the matter.

    The deal presented to Trump by trade advisers Thursday included a promise by the Chinese to buy more US agricultural goods, according to the people. Officials also discussed possible reductions of existing duties on Chinese products, they said. The terms have been agreed but the legal text has not yet been finalized, the people said. A White House spokesperson declined to comment. Click here to read the entire report

    10:16 (IST)13 Dec 2019
    Likely GST hike, post corporate tax cut, signals govt’s shift in stance

    With the Centre setting the stage for a hike in goods and services tax (GST) levies, three months after corporate tax rates were sharply cut, the stage appears to be set for flipping a fundamental tenet of taxation — that of a direct tax, despite being a progressive levy, being cut even as an indirect tax, a regressive levy, now appears all set to be hiked.

    This comes less than six months after former Finance Minister Arun Jaitley had, on the completion of two years of GST, asserted in a blogpost that “the direct tax is a progressive tax. The more you earn, the more you pay. An indirect tax is a regressive tax. In the pre-GST regime, the rich and the poor, on various commodities, paid the same tax…” The move to revise upwards the GST levies comes less than 12 months after Prime Minister Narendra Modi had pointed to efforts by the NDA government to push items down GST rate slabs in order to make it “as simple and as convenient” as possible, with all things related to the common man being moved to “18 per cent or below”. Click here to read the complete story

    09:52 (IST)13 Dec 2019
    At 10.01 per cent, food inflation in double digits after six years

    Consumer food price inflation has touched 10.01 per cent year-on-year in November, the first time it has crossed single digits since December 2013.

    What is striking is how quickly it has risen — from just 2.99 per cent in August to 5.11 per cent in September, 7.89 per cent in October to 10.01 per cent last month. Equally significant is that the increase is not due to monsoon failure or drought, but crop damage from excess and unseasonal rains. Click here to read the report

    09:48 (IST)13 Dec 2019
    Supply-driven surge in food prices pushes November inflation to 40-month high

    Retail inflation measured by the Consumer Price Index (CPI) surged to a 40-month high of 5.54 per cent in November on account of surging food prices, primarily the supply-driven higher prices of vegetables and pulses.

    Food inflation measured by the consumer food price index rose 10 per cent in November, coming a little over a week after the RBI paused its rate cutting action citing concerns on the food inflation front. October’s headline inflation print is 130 bps (basis points or one-hundredth of a percentage point) higher than that of the RBI’s medium-term target of 4 per cent, discounting the margin of 2 per cent on either side. Click here to read the complete story

    09:37 (IST)13 Dec 2019
    Sectoral indices on the NSE

    Almost all the sectoral indices on the National Stock Exchange were trading in green during the early trade on Friday. The Nifty Metal index was the top gainer as it rose over 2.5 per cent, it was followed by Nifty PSU Bank which was up 1.75 per cent and Nifty Auto which rose nearly 1.5 per cent.

    Here's how the sectoral indices were performing:

    Source: NSE
    09:33 (IST)13 Dec 2019
    BSE Sensex: gainers and losers in early trade

    On the Sensex, Tata Motors, Vedanta, Yes Bank and Tata Steel were the top gainers in the early trade on Friday, while Bharti Airtel and Asian Paints were the top losers.

    Source: BSE
    09:29 (IST)13 Dec 2019
    Equity markets in opening deals

    At 9:16 am, the S&P BSE Sensex was up 265.77 points or 0.65 per cent at 40,847.48, while the broader Nifty 50 was at 12,046.90, up 75.10 points or 0.63 per cent.

    09:28 (IST)13 Dec 2019
    Global market update

    Asian shares scaled eight-month peaks on Friday as a last-gasp Sino-US trade deal and a likely major election win by Britain's Conservative Party looked to have cleared a couple of dark clouds from the global horizon.

    In Asia, Japan's Nikkei climbed 2.4 per cent to a 14-month top, while South Korean stocks firmed 1.3 per cent.
    MSCI's broadest index of Asia-Pacific shares outside Japan climbed 1.2 per cent to its highest since late April. Shanghai blue chips advanced 1.4 per cent.

    On the Wall Street, the Dow ended Thursday up 0.79 per cent, while the S&P 500 gained 0.86 per cent and the Nasdaq 0.73 per cent.

    (Reuters)