MARKET WRAP: Sensex down 153 pts, Nifty below 12,100; Asian Paints falls 2%

All that happened in markets today.

3:55 PM

SECTOR WATCH | Top losers and gainers on the NSE

3:54 PM

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

3:40 PM

CLOSING BELL

The S&P BSE Sensex dropped 153 points or 0.37 per cent to end at 41,170 while NSE's Nifty50 index ended at 12,081, down 45 points or 0.37 per cent. 

3:20 PM

NEWS ALERT | PNGRB disposes Nov 29 show cause notice to Adani Gas; stock jumps over 11%

3:05 PM

Market check | Sharp slide in Sensex

3:02 PM

Passenger vehicle retail sales fall 5% in January on tepid response: FADA

According to Federation of Automobile Dealers Associations (FADA), which collected vehicle registration data from 1,223 out of the 1,432 regional transport offices (RTOs), PV sales stood at 3,04,929 units in January 2019.

 

Two-wheeler sales declined 8.82 per cent to 12,67,366 units last month as compared with 13,89,951 units in January 2019. READ MORE

2:59 PM

Nifty extends fall, below 12,100 now

2:56 PM

Market check

2:52 PM

BROKERAGE RADAR | ICICI Securities on Time Technoplast

While increasing focus towards value added category would help improve margin, we believe higher working capital requirement limits the RoE expansion (RoEs~12%). We also believe a reduction in debt and exit of non-core business would be key monitorables for TTL, going forward. We slightly tweak our revenue and earnings estimates and model revenue, earning CAGR of 9%, 6%, respectively, for FY19-21E. We change our rating from HOLD to REDUCE with a revised target price of | 50/share (3xEV/EBITDA FY21E).

2:50 PM

No ED probe against Co, says Escorts

2:45 PM

DOT to issue fresh notice to telcos calling for full payment of AGR dues

The Department of Telecommunications will issue fresh notices to Vodafone Idea, Bharti Airtel and Tata Teleservices this week for not entirely paying their AGR dues. While Bharti Airtel paid Rs 10,000 crore on Monday, Vodafone Idea paid Rs 2,500 crore that day and another Rs 1,000 crore on Thusday. In all, it owes Rs 53,000 crore to the Telecom Department. READ MORE

2:38 PM

BSE500 stocks that hit 52-week high today

COMPANY	PRICE(rs)	52 WK HIGH	CHG(%)
ADANI ENTERP.	257.70	260.10	1.44
ADITYA BIR. FAS.	279.60	283.60	2.01
ALEMBIC PHARMA	668.35	682.50	-0.45
AMBER ENTERP.	1657.50	1690.00	0.76
APOLLO HOSPITALS	1793.45	1814.00	0.68

2:37 PM

Global Markets check

Asian stocks slipped and so did the region’s currencies on Thursday, as virus cases rose in South Korea and Japan and investors quit local assets in favor of safety further afield. China has reported a large drop in new cases and announced an expected interest rate cut to buttress its economy.

MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.3 per cent, led by drops on Hong Kong’s Hang Seng and South Korea’s KOSPI.

 

E-mini futures for the S&P 500 traded a fraction softer and European futures fell 0.2 per cent, while bonds firmed slightly.

Elsewhere, oil prices added to overnight gains while gold loitered around $1,609 per ounce. US crude last sat 25 cents firmer at $53.54 per barrel and Brent added 23 cents to $59.35.

2:33 PM

NEWS ALERT | Fitch affirms Bharti Airtel's long-term foreign currency rating at 'BBB-': CNBC TV18

-- Fitch removes rating from 'watch negative'

2:26 PM

MSTC, Mishra Dhatu Nigam, IRCTC hit new highs, surge over 20% in a week

Shares of three state-owned companies, Indian Railway Catering and Tourism Corporation (IRCTC), MSTC, and Mishra Dhatu Nigam (MIDHANI), hit their respective fresh highs on the bourses on Thursday. These stocks have rallied in the range of 20 per cent to 27 per cent during this week, as compared to 0.39 per cent decline in the benchmark S&P BSE Sensex during the period. READ MORE

2:20 PM

Global Markets Check

>> Asian stocks slipped and so did the region’s currencies on Thursday, as virus cases rose in South Korea and Japan and investors quit local assets in favor of safety further afield

>> MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.3 per cent, led by drops on Hong Kong’s Hang Seng and South Korea’s KOSPI. Meanwhile, Japan's Nikkei closed 0.34 per cent higher.

 

>> E-mini futures for the S&P 500 traded a fraction softer and European futures fell 0.2 per cent, while bonds firmed slightly.

2:07 PM

BUZZING STOCK:: Godfrey Phillips India up 5%

2:06 PM

Rupee check

1:48 PM

NEWS ALERT | Future Life to issue 51.44 lakh equity shares to IFC: BSE Filing

>> Also, 96.6 lakh shares to to a promoter group entity on a preferential basis.

>> Fund raised will be used towards enhancing stake in subsidiaries & associates of FLFL and debt reduction

1:38 PM

Stocks that hit 52-week low on BSE

COMPANY	PRICE(rs)	52 WK LOW	CHG(rs)	CHG(%)
GAYATRI PROJECTS	25.30	25.30	-1.30	-4.89
SOBHA	342.70	341.60	-9.80	-2.78

1:24 PM

NEWS ALERT | Max Fin, Max Life Boards approve 20-30% stake sale to Axis Bank in life insurance biz: sources to CNBC TV18

>> Max Board approves extension of Axis Bank's Bancassurance deal by 15 yrs

>> Max Group, Axis Bank may sign MoU today

1:21 PM

NEWS ALERT | Telecom dept to issue fresh notices to companies for non-payment of dues: sources to CNBC TV18

>> Separate notice to Tata Teleservices for non-payment of full dues 

1:20 PM

NEWS ALERT | Voda Idea pays Rs 1,000 cr as part-AGR payment: CNBC TV18

1:10 PM

BROKERAGE RADAR | Edelweiss Securities on Media sector

We maintain the weightings at 60% for INOX Leisure and 40% for PVR—the top picks in our Model Media Portfolio. We expect multiplexes to continue to outperform given the appealing content pipeline and strong expansion plans. However, we would watch out for potential impact of the Coronavirus scare on footfall. For broadcasters, ad growth revival is likely from Q2FY21 coinciding with our expectation of a revival in consumption demand. For DTH companies, we expect challenges to persist in terms of ARPU growth and subscriber addition. Besides, uncertainty over NTO2.0 would remain an overhang on broadcasting and distribution in the near term. For print companies, revenue growth is likely to be difficult given: i) the cut in ad spends by advertisers; ii) competition from digital; and iii) pressure on circulation revenue growth.

12:53 PM

Index Contributors at this hour

12:39 PM

STOCK UPDATE:: AGC Networks up for the ninth straight day, hits new high of Rs 394.70

-- The stock has zoomed 170 per cent thus far in 2020

12:31 PM

NEWS ALERT | DHFL lenders to meet today to review EoIs received: CNBC TV18

>> Banks may shortlist eligible suitors out of 24 EoIs received 

12:26 PM

SBI Cards and Payment Services' $1.25 billion-IPO to open on March 2

The $1.25 billion initial public offering (IPO) of SBI Cards and Payment Services, the credit card arm of State Bank of India (SBI), will open on March 2, according to its prospectus. The company plans to issue new shares worth Rs 500 crore and will offer up to 130.5 million shares for sale, the prospectus, dated Feb. 18, showed.The bidding process will close on March 5.

12:21 PM

Escorts, Tata Chemicals: 10 midcap stocks that look bullish on tech charts

The Nifty midcap index has risen over 15 per cent over the last six months with most stocks in the index showing upside. This move may push several stocks in new terrian with rise in volumes and positive sentiment. 

NIFTY MIDCAP INDEX: The monthly chart reveals a trend line breakout around 17,000 levels. This mark has been successfully conquered suggesting upside. The Moving Average Convergence Divergence (MACD) has risen above the zero line, which means the positive sentiment is emerging gradually. READ MORE
 

12:14 PM

Muthoot Fin hits new high; overtakes PNB, AU Small Fin Bk in m-cap ranking

A sharp rally in the market price of Muthoot Finance has led to its market capitalisation (market-cap) touching Rs 36,823 crore, the BSE data shows. With this, the company overtook financials like AU Small Finance Bank (Rs 35,657 crore), Punjab National Bank (Rs 35,843 crore) and IDBI Bank (Rs 35,969 crore) in the m-cap ranking. READ MORE