MARKET WRAP: Sensex ends 139 pts higher in volatile trade; ONGC gains 5.7%

All that happened in the markets today

4:16 PM

Market Stats

• BSE advance-decline ratio in favour of gainers
• 275 stocks hit 52-week highs while 46 hit 52-week lows
• 445 scrips touched upper circuit limits while 169 hit lower circuits

 

4:07 PM

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

Market opened well, but lost all the gains and turned negative for some time during the day. Fortunately in the last trading minutes, it made a good attempt to bounce back and closed marginally above. Gains made in sectors like energy, FMCG and metals were countered by selling in pharma and IT stocks. This muted momentum was due to a weak global trend. Despite European Central Bank's announcement of an increase in the stimulus package, European markets fell as it was over weighed by increasing chance of a no-deal Brexit, rising virus cases and moderate usages of the announced stimulus plan. Instability was also seen in the US market with a sudden spike in the volatility index (VIX) and selling in tech stocks.

4:05 PM

Broader markets largely outperform benchmark

Broader market indices largely outperformed benchmark Nifty50. The Nifty Smallcap index added 0.63 per cent while the Nifty Midcap index gained 0.22 per cent. The broadest index on NSE, Nifty 500 rose as much as 0.27 per cent.

3:59 PM

COMMENT | S Ranganathan, Head of Research at LKP Securities

Markets witnessed a volatile trading session but ended the week well over 46k amid renewed interest in PSU names across sectors on hopes of divestment and dividend expectations from cash-rich PSU companies. Bouts of profit booking was seen in afternoon trade across sectors and stocks which seems healthy for the markets

3:44 PM

Nifty sectoral indices at close

Nifty Pharma emerged as worst sectoral loser, down 0.60 per cent, followed by Nifty IT and Nifty Auto.

3:41 PM

Top Sensex contributors today: ICICI Bank, ITC, NTPC

3:40 PM

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

3:38 PM

CLOSING BELL

The BSE Sensex ended 139.13 points or 0.30 per cent higher at 46,099.01 while NSE Nifty settled at 13,513.85, up 35.55 points or 0.26 per cent. 

3:19 PM

ONGC trades 5.51% higher

3:08 PM

Ircon International, PNC Infratech advance up to 9% on order wins

IRCON International was up 9 per cent at Rs 96.05 after the company said it has been awarded the work of upgradation of Gurgaon- Palaud,-Rewari section of NH-352W (design length of 46.110 km) 35 feeder route in Haryana on Hybrid Annuity Mode valuing Rs 900 crore on competitive bidding basis by National Highways Authority of India (NHAI). READ MORE 

3:05 PM

Global market update: Stocks subdued by Brexit, US stimulus doubts

World shares slipped on Friday as tricky Brexit negotiations and uncertainty over US stimulus talks capped riskier bets even though COVID-19 vaccines made progress, pushing sterling down and keeping the dollar weak. European equities fell, with the broad Euro STOXX 600 down 1.1% and indexes in Paris and London losing 1.2% and 1% respectively.U.S. futures gauges fell 0.2%. (Source: Reuters)

2:58 PM

S&P downgrades Sri Lanka's rating on rising external financing risks

With the implementation of expansionary budget measures in Sri Lanka, the country's fiscal position is expected to deteriorate materially over the next few years in the absence of favourable economic and financial conditions, S&P said in a statement. READ MORE

2:44 PM

Fall from intra-day high today

COMPANY	DAY'S HIGH(RS)	DAY'S LOW(RS)	LATEST(RS)	FALL(%)
PC JEWELLER	27.80	24.50	24.90	-10.43
ALLCARGO LOGIST.	155.15	142.10	144.55	-6.83
S C I	89.95	83.15	84.00	-6.61
AEGIS LOGISTICS	266.85	247.35	249.30	-6.58

2:42 PM

Festive demand lifts Nov domestic passenger vehicle sales by 13%: SIAM

According to the latest data by the Society of Indian Automobile Manufacturers (SIAM), two-wheeler sales rose 13.43 per cent to 16,00,379 units, compared with 14,10,939 units in the same month last year.

 

Motorcycle sales were at 10,26,705 units as against 8,93,538 units in November 2019, up 14.9 per cent. Scooter sales were also up by 9.29 per cent at 5,02,561 units, from 4,59,851 units in the same month last year. READ MORE

2:30 PM

Hinduja Global soars 17% to hit a 52-week high; stock gains 25% in 3 days

Shares of Hinduja Global Solutions soared 17 per cent to Rs 1,148 on the BSE in intra-day trade on Thursday after the company’s subsidiary, HGS AxisPoint Health, partnered with Parkland Community Health Plan (PCHP) to provide disease management services to approximately 195,000 Medicaid beneficiaries in a seven-county area in North Texas. READ MORE
 

2:23 PM

MARKET UPDATE:: Sensex extends losses

2:12 PM

Dixon Technologies' stock has surged 37% in 2 mths; will the rally sustain?

Dixon Technologies is a key player in the nascent Indian EMS industry, which is likely to grow rapidly over the next few years. The Indian electronics and consumer durable industry is worth nearly Rs 4 trillion and is likely to grow rapidly to Rs 6 trillion by FY25E because of low current penetration levels. READ MORE

2:04 PM

Market Update: Sensex off day's high amid losses in financials

BSE barometer Sensex wiped off all gains in the afternoon session on Friday amid losses in Axis Bank and HDFC twins. The index fell over 300 points to trade below the 46,000 mark. The 30-pack index had scaled all-time high of 46,309.63 in intraday trade.

1:54 PM

Apollo Tyres hits 52-week high on heavy volumes, surges 66% in 3 months

Shares of Apollo Tyres advanced 7 per cent to hit a fresh 52-week high of Rs 194.70 on the National Stock Exchange (NSE) on Friday on the back of heavy volumes. The stock surpassed its previous high of Rs 191.80, touched on December 3, 2020. The trading volumes on the counter nearly doubled with a combined around 19 million equity shares changing hands on the NSE and BSE. In the past three months, Apollo Tyres' stock price has zoomed 67 per cent, as compared to 19 per cent rise in the Nifty50 index. READ MORE

1:46 PM

MARKET CHECK

1:45 PM

Q&A | Passive funds can make managers deliver better value: Tim Edwards, S&P Dow

When a passive option becomes available, it can put pressure on active managers to deliver better value. Furthermore, since some investors have the option to take a passive approach, money is often taken away from the least-skilled, or unluckiest, active managers who have been underperforming, and invested in an index-tracker instead. READ FULL INTERVIEW HERE

Tim Edwards, Managing Director, Index Investment Strategy, S&P Dow Jones

1:30 PM

UPL recovers a day after tumbling 11%; here's what brokerages say

A day after tumbling nearly 11 per cent on reports that a whistle-blower had alleged corporate governance lapses in the company and that its promoters had siphoned off funds, shares of UPL recovered a bit and rose as much as 4 per cent to Rs 456.40 in the intra-day deals on Friday. In a clarification on the reports, the company said that this was an old matter and was reported to the audit committee in 2017. After an independent probe, the matter was closed, it said. READ MORE

1:22 PM

Once new wage code kicks in, you may need to shed some debt weight

The government has notified the draft rules under the Code on Wages 2019. According to it, from April 2021 your wage (which includes basic pay and dearness allowance) must be at least 50 per cent of total pay for the purpose of calculation of gratuity and provident fund contributions. Experts say the new rules will enhance social security. READ MORE

1:10 PM

Market Watch: BSE Smallcap index outperforms benchmark Sensex, up 0.85%

The BSE Smallcap index was trading 0.85 per cent higher in intraday trade at around 1 pm as against a 0.62 per cent rise in benchmark Sensex. Apollo Tyre, Vakrangee, Dixon and Persistent Systems were among the top index contributors.

1:03 PM

ONGC, Oil India, Gail rally up to 10%; here is why

Shares of state-owned oil & gas companies rallied up to 10 per cent on the BSE in the intra-day trade on Friday as crude oil prices extended their northward journey. On Thursday, Brent crude price crossed $50 per barrel-mark for the first time since March on demand recovery and hopes of Covid-19 vaccine. Among individual stocks, ONGC rallied 10 per cent to Rs 101 in the intra-day trade amid reports that Morgan Stanley has upgraded the stock. Meanwhile, shares of Oil India and Gail gained 10 per cent and 7 per cent, respectively. READ MORE

 

12:53 PM

Rebound in advertising, viewership help Zee Entertainment stock recovery

The Zee Entertainment Enterprises stock has gained 14 per cent over the last two weeks on expectations of a gradual uptick in advertising growth, increase in viewership share and hopes of a recovery of dues from group companies such as Dish TV. Despite the recent recovery, the stock has been a key underperformer over the last six months, compared with the benchmark indices and the S&P BSE100 index. READ MORE

12:43 PM

Sebi to have dept to check price manipulation, misuse of IPO funds

To rein in misuse of the initial public offering (IPO) proceeds, the capital markets regulator Securities and Exchange Board of India (Sebi) is all set to have a separate specialised department, which will detect possible irregularities in the utilisation of net proceeds and even do forensic accounting of such firms. The move comes close on the heels of an extensive discussion it had with the finance ministry in November. READ MORE

12:33 PM

IRCTC OFS retail quota subscribed 29% so far

The retail quota of offer for sale (OFS) by IRCTC was subscribed 29 per cent so far. The issue received a total bids for 6,89,794 shares against the issue size of 24,00,000 shares. The OFS witnessed a good response from non-retail investors yesterday as the issue was subscribed nearly two times on day one. Yash Gupta, Equity Research Associate at Angel Broking is neutral on the issue. "There will be very limited upside left for retail investors also there is no retail discount in this OFS," Gupta said.

 

12:24 PM

ACC, Cipla: 66 stocks from Nifty 500 index are showing weakness on charts

The domestic stock market is on a record-breaking spree. On Friday, the benchmark S&P BSE Sensex hit a fresh all-time high of 46,309.63 during the intra-day deals while NSE's Nifty scaled a record peak of 13,579.35. Since their March 2020 lows, both Sensex and Nifty have jumped 80 per cent, each, NSE and BSE data show. However, amid this relentless rally, few stocks are showing weakness on their respective technical parameters. READ MORE

12:11 PM

BUZZING STOCK:: Gillette rises 6%