MARKET WRAP: Sensex up 321 pts, Nifty ends near record high; metals gain

All that happened in the markets today

4:03 PM

Market Closing Comment :: Ranganathan, Head of Research at LKP Securities

NIFTY started 2020 on a positive note by rising 100 points today led by key pivotals like RIL & L&T. What was also encouraging was the buoyancy witnessed in the broader market with several midcaps and smallcaps participating in the rally

3:44 PM

Nifty snapshot at close

3:43 PM

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

3:42 PM

Closing Bell

>> The S&P BSE Sensex ended 320.62 points, or 0.78 per cent, higher at 41,626.64 level, with UltraTech cement, Tata Steel, IndusInd Bank and L&T being the top gainers on the index. 

>> On the NSE, the broader Nifty50 settled at record closing high of 12,283, surpassing its previous closing high of 12,271.80 (touched on December 20, 2019). At close, the Nifty index was up 100.45 points, or 0.82 per cent.

3:30 PM

NEWS ALERT | Indian Hotels adds Fateh Prakash Palace in Udaipur to its collection: PTI

3:18 PM

MARKET ALERT | HDFC, Bajaj Finance, Bajaj Finserv from Nifty 50 stocks hit record highs

-- Nifty nears all-time high of 12,294 touched on December 20, 2019

3:08 PM

TVS Motor December total sales down 14.7% at 2.31 lakh units vs 2.71 lakh units (YoY)

2:59 PM

BSE500 stocks that hit 52-week high today

COMPANY	PRICE(rs)	52 WK HIGH	CHG(rs)	CHG(%)
AAVAS FINANCIERS	1993.45	2007.90	31.15	1.59
ADANI GAS	181.75	185.60	4.80	2.71
ADANI GREEN	183.50	183.50	8.70	4.98
ADITYA BIR. FAS.	245.20	249.70	11.40	4.88
AMBER ENTERP.	1170.00	1177.80	18.95	1.65

2:45 PM

Global Markets Check

>> Asian shares kicked off 2020 on a strong note on Thursday, spurred by Chinese markets after Beijing eased monetary policy to support the slowing economy.

>> MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.43%, Hong Kong’s Hang Seng added 1.05%.

>> European equities were set to follow Asia higher in their first trading session of the new decade. Pan-region Euro Stoxx 50 futures rose 0.62% and FTSE futures were up 0.31%, though German DAX futures fell 0.18%.

(Via Reuters)

2:37 PM

MARKET ALERT | Eight stocks from BSE Smallcap index locked in 20% upper circuit

COMPANY	LATEST	PREV CLOSE	GAIN(rs)	GAIN(%)	VOLUME
ZUARI GLOBAL	58.50	48.75	9.75	20.00	14470
SHARDA CROPCHEM	280.95	234.15	46.80	19.99	10881
SHEMAROO ENTERT.	172.25	143.55	28.70	19.99	14389
ACTION CONST.EQ.	86.55	72.15	14.40	19.96	96424
ZUARI AGRO CHEM.	110.30	91.95	18.35	19.96	72457
PRAKASH INDS.	61.05	50.90	10.15	19.94	481390
HIND.COPPER	48.45	40.40	8.05	19.93	1721695
SUZLON ENERGY	2.29	1.91	0.38	19.90	6731779

2:32 PM

Apex Frozen, Avanti Feeds, Jet Airways gain over 100% from 52-week lows

A sharp recovery in mid-and-smallcap stocks has seen the stock price of 24 stocks more-than-double from their respective one-year lows since August. The share price of Jet Airways (India), Apex Frozen, Avanti Feeds, Dixon Technologies, Shipping Corporation of India, Essel Propack, BF Utilities, Godawari Power & Ispat, JBM Auto, Indiabulls Real Estate, and RPG Lifesciences appreciated in the range of 104 per cent to 153 per cent in this period. READ MORE

2:25 PM

Power Grid, NTPC rally post govt's infra push; will BHEL and NHPC follow?

Finance Minister Nirmala Sitharaman on Tuesday launched a National Infrastructure Pipeline (NIP), unveiling projects worth Rs 102 trillion, wherein a major chunk is being alloted to power, renewable energy, atomic energy and petroleum and natural gas sectors. Reacting to the announcement, power stocks jumped in Wednesday's trading session. READ MORE

2:12 PM

Bharat Bond ETF lists at Rs 1,000 on NSE

2:00 PM

Govt likely to miss disinvestment target, expects Rs 67,000-crore gap

The government may miss its disinvestment target of Rs 1.05 trillion for 2019-2020 by a wide margin, as its plans to sell Bharat Petroleum Corporation (BPCL), Container Corporation of India (Concorp) and Air India are unlikely to conclude by March-end. "Government has to respond to what the potential bidders ask for. So, sometimes they ask for time to examine the financial statements. Sometimes, they want to do a physical due diligence," said a ministry official who didn't want to be named. READ MORE

1:53 PM

NEWS ALERT | Longjian-KEC Int JV wins order for subway construction worth Rs 1,080 cr: Reuters

1:47 PM

Rupee check

1:46 PM

Buzzing | Sterlite Tech rallies 7% on bagging order worth Rs 1,800 cr

>> Says, awarded the mandate to create a high speed rural broadband network from Telangana Fiber Grid Corporation Ltd. (T-Fiber)

>> STL was awarded a work order for about Rs.1100 crore for Phase- 1 of the project. The total project value is worth about Rs.1800 crore for which STL has received the letter of intent.

 

1:34 PM

NEWS ALERT | Oct to Dec sugar output down 30.4% YoY: ISMA

>> Sugar output for Q3FY20 at 7.8 mt vs 11.2 mt YoY

>> UP sugar output comes in at 3.32 mt Vs 3.11 mt (YoY)

Alert: ISMA is Indian Sugar Mills Association

1:28 PM

Despite stock's rise, Page Industries' near-term outlook not comforting

Recent reaffirmation of good credit rating (AA/A1+) by ICRA, and expectations of higher growth of high-margin winter wear in December quarter has turned investor sentiment positive towards Page. READ HERE

1:18 PM

Shriram Transport to raise upto Rs 1,000 cr via public issue of NCDs

Shriram Transport Finance Company is proposing a public issue of upto Rs 1,000 crore by issuing Secured Redeemable Non-Convertible Debentures (NCDs) of the face value of Rs 1,000 each. The company is coming out with its Tranche 2 Issue of NCDs having a base size of Rs. 200 crore with an option to retain oversubscription aggregating up to Rs. 1,000 crore which is within the Shelf Limit, its press release said. 

 

1:14 PM

Emkay Global on the impact on Media sector post Trai's latest order

We believe that the reduction in channel pricing cap will impact broadcasters only if a large proportion of subscribers shift to a-la-carte model and subscribe to fewer channels. Large broadcasters (Zee, Star and Sun TV, etc.) that have driver channels (featuring in top 3) across the genres will have limited impact or risk of revenue loss due to the shift to a-la-carte. However, the impact could be in the form of lost advertisement and subscriber revenues due to the non-subscription of non-driver channels. Capping of NCF and increasing number of channels will not impact DPOs as average realization for most DPOs is lower than the NCF prescribed by the TRAI.  

 

STOCK RECOS 

• Zee Entertainment: HOLD 

 

CMP: Rs 288 

 

Target Price: Rs 389

 

• Sun TV Network: HOLD

 

CMP: Rs 439

 

Target Price: Rs 497

1:02 PM

NEWS ALERT | Indiabulls Hsg Fin buys back bonds with face value worth Rs 1,400 cr: sources to CNBC TV18

>> 11 mutual funds believed to have participated in the buyback

1:02 PM

Broader markets outperform benchmarks

12:56 PM

BUZZING STOCK:: PNB Housing zooms 10%

12:45 PM

Tata Motors gains 3%, hits over 7-month high post December sales data

Shares of Tata Motors climbed 3 per cent to hit an over seven-month high level of Rs 190 on the BSE on Thursday after the company reported a 12 per cent decline in total vehicle sales in domestic market to 44,254 units in December. The stock was trading at its highest level since May 10, 2019. Tata Motors had sold 50,440 units in the same month in 2018, Tata Motors said in a statement. READ MORE

12:37 PM

Nifty sectoral indices at this hour

12:37 PM

MARKET UPDATE: Sensex at day's high

12:22 PM

NEWS ALERT | Nirav Modi's assets mortgaged with PNB to be given back to the bank: sources to CNBC TV18

>> Assets worth Rs 1,200-1,500 cr to be returned

>> Assets include shares and properties in South Mumbai

>> Mehul Choksi's assets could be returned too, if he is declared Fugitive Economic Offender

Alert: ED has attached all encumbered & unencumbered assets belonging to Nirav Modi

         Nirav Modi has been declared a fugitive eco offender by PMLA court

File photo of Nirav Modi

12:17 PM

NEWS ALERT | Ice cream makers to hike prices by 8-15%: sources to CNBC TV18

>> Prices to be hiked owing to inflation, higher Skimmed Milk Product prices

>> Vadilal Industries to hike prices by 8-10%

12:13 PM

Apollo Hospitals up 5% as IRDA approves stake sale in Apollo Munich to HDFC

Shares of Apollo Hospitals Enterprise jumped 5.2 per cent to Rs 1,501.5 per share on the BSE on Thursday after the company said Insurance Regulatory and Development Authority of India (IRDAl) has approved HDFC's bid to acquire 51.2 per cent stake in Apollo Munich Health Insurance Company (AMHI). Competition Commission of India (CCI), and Reserve Bank of India (RBI) have already approved the deal. READ MORE