MARKET WRAP: Indices gain for 2nd day, Sensex rises 350 pts; HUL surges 5%

All that happened in markets today

4:05 PM

MARKET COMMENT | Vinod Nair, Head of Research, Geojit Financial Services

Investors' appetite for risk improved as coronavirus concerns receded for the second day in a row. The impact of coronavirus has already affected the supply chains and factory activities across the globe, but the ground reality is improving in China and we can expect improvement in the next quarter. The domestic market is awaiting the January inflation and consensus show a spike in inflation which is expected to impact rate-sensitive stocks.

3:53 PM

SECTOR WATCH | Top gainers and losers on the NSE

3:53 PM

MARKET AT CLOSE | Top gainers and losers on the S&P BSE Sensex

3:39 PM

CLOSING BELL

The S&P BSE Sensex rallied 350 points or 0.85 per cent to settle at 41,566 while NSE's Nifty50 index ended at 12,201, up 93 points or 0.77 per cent.

3:25 PM

MARKET CHECK | Top gainers on the BSE at this hour

3:10 PM

MARKET CHECK

2:51 PM

Heatmap: S&P BSE Sensex

2:34 PM

Contribution to S&P BSE Sensex's gain today

2:27 PM

Nifty sectoral indices at this hour

2:24 PM

Global Markets check

Global share markets nudged higher on Wednesday amid hopes the worst of the coronavirus in China may have passed, although prevailing uncertainty about the outbreak kept investors wary. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.9 per cent while Chinese shares reversed early losses to trade up 0.41 per cent.

 

Shares in Hong Kong rose 0.9 per cent to a three-week high. Australian shares were up 0.47 per cent, while Japan's Nikkei stock index rose 0.53 per cent.

 

Euro Stoxx 50 futures STXEc1 were up 0.05 per cent, German DAX futures were up 0.08 per cent, and FTSE futures were up 0.13 per cent.

In commodities, oil futures, which have been in a downtrend since the start of the year, rose in Asia from 13-month lows due to budding optimism about the virus and hopes that output cuts by major producers will support prices.

 

2:13 PM

Rupee check

2:03 PM

RESULTS CORNER:: Hindalco Q3 consolidated net profit down 23.8% YoY at Rs 1,062 cr

-- Revenue down 12.1% at Rs 29,197 crore

 

1:58 PM

BROKERAGE RADAR | Centrum Broking on Bajaj Consumer Care

Considering weak revenue growth, persistent category headwind and weak demand outlook we cut revenue/ earnings estimates for FY20E/FY2E by 6-9 per cent / 12-16 per cent and introduce FY22 estimates. We maintain Buy rating with revised TP of Rs 303 (earlier Rs 387), implying PE 16.2x FY22E EPS.

1:55 PM

BUZZING STOCK | PC Jeweller jumps over 15%

1:47 PM

Most active stocks by volume

COMPANY	PRICE(rs)	CHG(%)	VOLUME
VODAFONE IDEA	4.53	-6.98	40077110
RELIANCE POWER	1.80	-4.76	11108142
SUZLON ENERGY	2.45	-9.93	6185829
YES BANK	35.10	-4.75	5093232
INDIABULLS HOUS.	330.15	-4.30	2379355

1:36 PM

MARKET CHECK | 0.9% equity of IEX changes hands

1:32 PM

BROKERAGE RADAR | Anand Rathi Broking on Dilip Buildcon

Delayed appointed dates and sluggish order accretion in late FY19 and early FY20 led to weak Q3 and 9M revenue growth, expectedly. What is good is that management used the time not only to lighten its balance sheet, but also reduce dependence on a single segment for growth (roads share down). These efforts continue. A further positive was the ability to find a suitor for a part of under-construction hybrid annuity portfolio, and efforts are on to monetise the balance portfolio. This should help create headroom for newer hybrid annuities. With the recent healthy awarding and with the existing OB moving, we see respectable revenue growth ahead. On proven execution capabilities, we retain a Buy.

Valuation: On the delayed appointed dates, we lower FY20e earnings nearly 10% (and nearly 13% for FY21). On our newly introduced FY22e, the stock (excl. investments) trades at PER of 6.4x FY22e.

Risk: Slower pace of execution.

1:28 PM

Auto production to slide 8.3% in 2020; coronavirus may hit supply: Fitch

In China, where the virus originated, automotive manufacturers have halted production in order to limit the congregation of people and reduce the exposure of its population to possible infection and "we see India adopting similar policies if the virus spreads throughout the country," it said. READ MORE  

1:20 PM

Confusion over new rules on standardised return metrics for PMS players

A move to provide standardised returns across portfolio managers may be experiencing some teething troubles. Lack of granularity in the regulations has some portfolio management service (PMS) providers scrambling to figure out how they should be showcasing their returns, according to at least three people familiar with the matter. This included a portfolio manager, a distributor and a service provider to the industry. READ MORE

1:11 PM

Broader markets underperform benchmarks

12:58 PM

Sugar shares in focus; Balrampur Chini, Dhampur Sugar surge over 6%

Shares of sugar companies were in focus in Wednesday's session and rallied by up to 8 per cent on the BSE on expectation of no significant upward revision in sugar production. Balrampur Chini Mills, Avadh Sugar & Energy, Dhampur Sugar Mills, Dalmia Bharat Sugar and Industries, Uttam Sugar Mills and Dwarikesh Sugar Industries were up 5 per cent to 8 per cent in intra-day trade today. In comparison, the S&P BSE Sensex was up 0.8 per cent at 41,540 points at 12:24 pm. READ MORE

12:54 PM

STOCK WATCH:: Shemaroo Entertainment tanks 20% to hit 52-week low of Rs 116 as profit before tax dips 57% in Q3

12:48 PM

Polycab, Astral Poly Technik: How to trade construction-related stocks

Union Budget 2020-21 put forth an array of proposals that are likely to give a fillip to construction-related stocks such as cables, pipes, among others. Focus on agriculture, "Jal Jeevan Mission" for which the government has approved a budgetary allocation of Rs 11,500 crore and "Affordable Housing" are expected to boost these companies in the coming days. READ MORE

12:38 PM

NEWS ALERT | Cabinet approves Major Port Authority Bill: reports CNBC-TV18

12:27 PM

BUZZING STOCK | Wockhardt slips nearly 2%; Co to sell mfg plant in Baddi

12:14 PM

Commercial vehicles, two-wheelers likely to see a smooth drive from H2CY20

Commercial vehicles (CVs) and two-wheelers, after clocking big growth in January 2018, have reported a decline of 14.04 per cent and 16.06 per cent, respectively, in the same month this year over the equivalent period in 2019. CVs and two-wheelers reported 39 per cent and 33 per cent growth, respectively, in January 2018 over the same month in 2017. The two segments continue to feel the pressure of slowdown in rural sales and changes in regulations, among other things. READ MORE

11:59 AM

MARKET UPDATE:: Slight fall in Nifty; index slips below 12,200

11:57 AM

Indiabulls Housing Finance extends loss after RBI's clarification

11:53 AM

NEWS ALERT | Real estate norms announced in monetary policy applicable to banks, not HFCs: RBI

11:46 AM

Lakshmi Vilas Bank surges 41% in a week on report US fund house eyes stake

Shares of Lakshmi Vilas Bank were locked in 5 per cent upper circuit at Rs 20.90 on the BSE on Wednesday after reports emerged saying that a US fund house is eyeing a big stake in the cash-strapped bank. The private sector lender's stock has been frozen upper circuit for the fourth straight day. In the past week, the stock has rallied 41 per cent against 1 per cent rise in the S&P BSE Sensex. READ MORE