MARKET WRAP: Sensex down 208 pts, Nifty holds 12,100; metals, autos drag

All that happened in the markets today

3:43 PM

Sectoral trends at NSE at close

3:42 PM

Sensex heatmap at close

3:41 PM

Closing Bell

>> The S&P BSE Sensex ended a volatile trading session at 41,115.38 level, down 208.43 points or 0.50 per cent on the back of cuts in bluechip companies like HDFC twins, ICICI Bank, Maruti Suzuk, and Kotak Mahindra Bank.

>> On the NSE, the Nifty50 settled just above the 12,100-mark at 12,106.90 level, down 62.95 points or 0.52 per cent.

3:26 PM

NEWS ALERT | JLR to cut jobs at UK Halewood plant: Reuters

>> Plant comprises 10% of work

3:21 PM

Asian Paints Q3 net profit grows 20% YoY to Rs 764 crore; revenue rises 3%

Profit before tax (PBT) of the company increased by 8.4 per cent to Rs 1,057.28 crore from 975.01 crore in the year-ago period.

 

Basic and diluted earnings per share (EPS) came in at Rs 7.97 against Rs 6.63 in the year-ago quarter. READ MORE

3:12 PM

NEWS ALERT | Cabinet approves closure of Hindustan Fluorocarbons

3:07 PM

Earnings Alert | SBI Life Q3 results

>> Net profit at Rs 390 crore, up 47.5% YoY

>> Gross Premium income at Rs 11,760, up 28.3% YoY

2:52 PM

Nifty sectoral indices at this hour

2:47 PM

Asian Paints Q3 net profit grows 20% YoY to Rs 764.43 crore

Asian Paints on Wednesday reported a 20 per cent year-on-year (YoY) rise in its consolidated net profit of Rs 764.43 crore for the quarter ended December 31, 2019. Revenue from operations stood at Rs 5,420.28 crore, up around 3 per cent YoY. Total income grew 3.3 per cent YoY to Rs 5,490 crore. READ MORE

2:41 PM

RESULT UPDATE:: Alembic Pharma Q3 consolidated net profit up 37.9% at Rs 234.2 cr vs 169.8 cr (YoY)

-- Cons revneue up 18.9% at Rs 1209 cr vs 1018.2 cr

2:36 PM

Axis Bank Q3 preview: Commentary on employee churn, NPAs key monitorables

A stable quarterly performance could be in the offing for private lender Axis Bank, which, according to analysts, could report up to 61 per cent year-on-year (YoY) jump in the net profit at Rs 2,705.4 crore for the December quarter of the current financial year (Q3FY20). Besides, steady credit growth and moderation in slippages could also be expected. READ MORE

2:32 PM

RESULT UPDATE:: Asian Paints Q3 consolidated net profit at Rs 780 crore

-- Cons revenue at Rs 5420 cr
 

-- Decorative biz segment in India registers low double-digit volume growth

-- EBITDA margin at 21.9%

 

2:31 PM

Market check

2:28 PM

L&T Q3 preview: Analysts see a cut in order inflow guidance for FY20

A significant slowdown in government orders, coupled with muted private capex, is likely to have hit order inflows for most engineering and capital goods companies, including industry heavyweight Larsen & Toubro (L&T), during the third quarter of the current financial year (Q3FY20). While a strong execution momentum is expected to continue for L&T in the heavy engineering, hydrocarbon and domestic infrastructure segment, a weak backlog in the international infrastructure segment could drag overall infra segment growth, say analysts. READ MORE

2:20 PM

Larsen & Toubro trades lower ahead of Q3 results

2:11 PM

Nifty Bank index at day's low

2:10 PM

MARKET UPDATE:: Sensex extends fall, down 200 pts

2:07 PM

STOCK WATCH:: ZEEL off day's lows

2:06 PM

Contribution to S&P BSE Sensex's fall today

1:59 PM

Coronavirus from China could hurt oil prices by $3 per barrel: Goldman

Goldman Sachs said a potential drop in oil demand from top energy consumer China due to the outbreak of a new coronavirus could hurt crude prices by about $3 per barrel, countering concerns about Middle East supply disruptions. The outbreak began in the central Chinese city of Wuhan in Hubei and has spread to the rest of the country, with 440 confirmed cases and nine deaths so far. It has also spread to the United States, Thailand, South Korea, Japan and Taiwan. READ MORE

1:55 PM

Rupee check

1:48 PM

STOCK ALERT | 0.3% equity exchanged in 2 block deals on NSE

1:37 PM

Small-caps trade higher in a weak mkt; S&P BSE small-cap index up 0.14%

1:27 PM

BROKERAGE RADAR | Sharekhan on L&T Tech Services

We believe LTTS is well placed to gain market share among global competitors on account of preferred engineering partner among clients, multi-domain expertise, strong accounts mining activities and leadership depth. Robust deal wins coupled with broad-based growth across verticals and healthy deal pipeline provides a good platform for a growth momentum in FY2021E. We retain our Positive view on LTTS and expect a 10-12% upside in the next 10-12 months.

1:26 PM

NEWS ALERT | Adani Capital acquires Essel Finance's MSME loan business

1:25 PM

BROKERAGE RADAR | Sharekhan on HDFC Bank

Even though management transition is an overhang and notwithstanding the off-colour results, we believe business quality and strength of franchise of HDFC Bank make it one of the best banks in terms of visibility and sustainability of business. We retain our Buy rating on the stock with unchanged price target (PT) of Rs. 1,510.

1:12 PM

Market expects the Budget to focus on fiscal prudence, raising revenue

Over the past few quarters, gross domestic product (GDP) growth has slowed to a 26-quarter low of 4.5 per cent in quarter ended September 2019, with risks to the economy stemming from both domestic (risk aversion in the financial sector and corporate sectors and weak private capex cycle) and external fronts (uncertainty caused by US-China trade tensions). READ MORE

1:01 PM

Stocks that hit 52-week low on BSE today

COMPANY	PRICE(rs)	52 WK LOW	CHG(rs)	CHG(%)
HAVELLS INDIA	597.40	588.50	-19.50	-3.16
I O C L	114.45	113.30	-0.40	-0.35
OIL INDIA	139.45	138.60	-6.55	-4.49
RELIANCE CAPITAL	10.22	9.46	0.38	3.86

1:00 PM

Asian Markets check

Asian stock markets recovered ground on Wednesday as China’s response to a virus outbreak tempered some fears of a global pandemic, although Shanghai shares initially slipped amid worries about a hit to domestic demand and tourism. Worries about contagion, particularly as millions travel for Lunar New Year festivities, have knocked stocks from record peaks.

The MSCI index of Asia-Pacific shares outside Japan rose 0.71 per cent, recouping almost half Tuesday’s drop. Japan’s Nikkei, South Korea’s Kospi index and Hong Kong’s Hang Seng all rose by more than half a percentage point. Australia’s S&P/ASX 200 shrugged off worries to hit a fresh record high. E-mini S&P 500 futures rose 0.5 per cent and EUROSTOXX 50 futures advanced 0.4 per cent.

12:52 PM

Coal imports data | Adani Power's Mundra plant imports in 2019 up 75% YoY at 17.35 mt: CNBC TV18

-- Coal imports by Indian utilities in 2019 up 21% YoY at 69.51 mt, highest in 4 years