MARKET WRAP: Sensex, Nifty end little changed; Tata Steel, SBI advance 3%

All that happened in the markets today

3:40 PM

Sectoral trends at NSE at close

3:40 PM

Top gainers and losers on S&P BSE Sensex at close

3:39 PM

Closing Bell

>> The benchmark S&P BSE Sensex closed at 41,681.54-level, up 7.62 points or 0.018 per cent. 
 

>> The benchmark Sensex and Nifty hit fresh highs of 41,809.96 and 12,293.90, respectively.

 

3:30 PM

NEWS ALERT | Ipca Labs enters into an agreement with Medicines for Malaria Venture (MMV): BSE Filing

-- To co-develop antimalarial co-formulation named ‘Atoguanil’

3:21 PM

Crisis looms as debt wave sweeps developing nations, warns World Bank

A wave of debt in emerging and developing nations has grown faster and larger than in any period of the last five decades and could end with another crisis, the World Bank warned Thursday.

 

And if the wave breaks, it could be more damaging since it would engulf private companies in addition to governments, at a time when economic growth is sluggish, according to a new report that covers four debt surges from 1970-2018. "The size, speed and breadth of the latest debt wave should concern us all," World Bank President David Malpass said in a statement. READ MORE

3:00 PM

NEWS ALERT | Indian banks need $7 billion by FY21 to meet capital norms: Fitch on India

>> Positive impact of govt reforms to materialise in medium-term, rather than near-term

2:51 PM

NEWS ALERT | Expect RBI to cut rates by 65 bps in 2020: Fitch on India

2:48 PM

NEWS ALERT | FY20 GDP seen at 4.6%: Fitch on India

>> FY21 GDP growth seen at 5.6%

2:44 PM

YES Bank, Shriram Transport shrug off rating downgrades, advance up to 7%

Shares of YES Bank and Shriram Transport Finance Company rallied up to 7 per cent on the BSE on Friday despite being downgraded by rating agencies.

YES Bank climbed 10 per cent to Rs 53.50 from its early morning low of Rs 48.50 on the BSE. With today’s gain, the stock of private sector lender has bounced back 19 per cent from its Thursday’s low of Rs 45. A combined 285 million equity shares, representing 1 per cent of total equity of YES Bank, changed hands on the NSE and BSE till 02:08 pm. READ MORE

2:43 PM

NEWS ALERT | Fitch affirms India's long-term currency issuer rating at 'BBB-': CNBC TV18

>> Outlook stable

>> GDP growth outlook still solid relative to peers

>> Rating affirmation incorporates moderate fiscal slippage in FY20

>> Risk of more India fiscal expansion if growth remains weak

2:39 PM

Sector watch | Telecom stocks at this hour

COMPANY	LATEST(rs)	CHG(rs)	CHG(%)	VOLUME
VODAFONE IDEA	6.48	-0.10	-1.52	18712729
REL. COMM.	0.90	0.04	4.65	2250016
BHARTI AIRTEL	456.85	8.35	1.86	448005
TEJAS NETWORKS	78.15	0.65	0.84	2277

2:38 PM

NEWS ALERT | DCC has approved Trai's recommendation on 5G spectrum pricing: Telecom Secy, reports CNBC TV18

>> Hopeful of auction in March-April 

>> Spectrum bids will be open by Jan 31

>> Have issued request for proposal (RFP) for appointment of auctioneer

>> Rs 5.22 lakh crore is the total Reserve Price of the spectrum up for auction

>> For sub-GHz band, upfront money is only 25%

>> For band over 1 GHz, only 50% upfront money has to be paid; the remaining can be paid in 18 yrs

Alert: DCC is Digital Communications Committee

2:34 PM

Global Markets check

European stocks were made tiny moves on Friday as trading volumes thinned into Christmas, although Italian shares outperformed on some positive company updates.

The STOXX 600 rose just 0.1 per cent, still on course to end a second week with gains and trading about 1 percent below all-time highs.

In early trading, the pan-region Euro Stoxx 50 futures were up 0.3 per cent and German DAX futures 0.1 per cent, while FTSE futures were a shade weaker. E-Mini futures for the S&P 500 ESc1 were at all-time highs, having risen 1.2 per cent in the week.

 

Asian shares snoozed near 18-month highs on Friday as trade thinned in the run-up to Christmas and investors seemed content to digest the chunky gains already made so far this month.

MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS were steady after rising 1.2 per cent so far this week and almost 5 per cent this month. Japan's Nikkei reversed early gains after reaching a 14-month high earlier in the week. It was ahead by 2.5 per cent for the month so far.

 

 

2:30 PM

Heatmap: S&P BSE Sensex

2:27 PM

NEWS ALERT | Andrew Bailey named as Bank of England governor: AFP quoting finance ministry

>> Bailey to be governor for 8 yrs

2:17 PM

Puzzled why stock market is buoyant amidst slowdown: Arvind Subramanian

Expressing his confusion over a buoyant stock market amidst economic slowdown, renowned economist and former chief economic advisor (CEA) for government, Arvind Subramanian called for research in the area.

 

Subramanian was speaking at the inauguration of the NSE Centre for Behavioural Science in Finance, Economics and Marketing, being set up jointly by Indian Institute of Management, Ahmedabad (IIM-A), NSE and NSE IPFT. READ MORE

Former CEA Arvind Subramanian

2:06 PM

Rupee check

2:05 PM

NEWS ALERT | Govt can raise $ 1 trillion by lowering stake in PSUs: Anil Agarwal, Vedanta Chairman, reports CNBC TV18

>> Will evaluate participation in BPCL stake sale; would like to look at all assets. 

Anil Agarwal

2:00 PM

Of 15 IPO stocks, 11 gave listing gains in 2019; IRCTC listed 101% higher

Of the 15 companies that got listed on the bourses in 2019, 11 delivered between 4 per cent to 101 per cent listing gains to investors. On average, IPO stocks listed 20 per cent higher than their issue price on a listing day. IRCTC listed 101 per cent higher,while Ujjivan Small Finance Bank and CSB Bank listed 56 and 41 per cent higher.

 

Though the number of issues and the total funds raised through IPOs shrank in 2019, most of the companies which got listed in 2019 are trading above their issue price. READ MORE

1:48 PM

NEWS ALERT | Lupin gets US FDA nod for Betamethasone Dipropionate Ointment USP: BSE filing

1:40 PM

NEWS ALERT | Tax notice without DIN number can be rejected: FM

1:37 PM

Market check | Indices turn negative

1:34 PM

NEWS ALERT | Hold it against PSBs that they haven't passed the benefits of rate cuts to customers: FM

-- Made sure stressed MSMEs are not declared NPAs: FM

 

1:32 PM

NEWS ALERT | There must be no delay in decision for fear of vigilance: FM

1:32 PM

Market check | Sensex pares gains

1:30 PM

NEWS ALERT | Projects which are incomplete will get their money: FM

1:27 PM

NEWS ALERT | NBFCs have saddled themselves with not-so-good quality of assets: FM

1:26 PM

NEWS ALERT | PSBs must move more liquidity out in the system: FM

-- Together with banks and RBI, we looked at where liquidity was stuck: FM

1:23 PM

From Titan to TCS, here's how you can make money in Tata Group stocks

Moving averages and technical patterns suggest that the upside momentum in Tata Group stocks is likely to stay high despite the recent developments. READ MORE  

1:14 PM

BUZZING STOCK | Coal India jumps over 2.50%