MARKET WRAP: Benchmarks snap 2-day losing streak, Sensex gains 193 pts

All that happened in the markets today

3:39 PM

Nifty snapshot at close

3:38 PM

Sensex heatmap at close

3:37 PM

Closing Bell

>> The benchmark S&P BSE Sensex scaled 553.51 points in the intra-day trade to hit a high of 41,230.14 levels. The index, however, settled at 40,869.47 level, up 192.84 points or 0.47 per cent. 

>> On the NSE, the Nifty50 closed at 12,060.70-mark, up 67.65 points or 0.56 per cent. The index hit an intra-day high of 12,152.15.

3:23 PM

India's broader market more vulnerable than ever to a spike in crude prices

India’s broader market is more vulnerable to a spike in crude oil prices than any point in nearly decade thanks to a dwindling weighting of export driven companies in the benchmark Nifty 50 index.

 

Companies with large exports revenues, such as Tata Consultancy Services, Infosys, Sun Pharma, Cipla, UPL, Tata Motors, and Bajaj Auto, accounted for only 16.5 per cent of the NSE Nifty 50 index — the lowest in a decade at the end of December 2019. READ MORE

3:09 PM

Zuari Agro Chemicals hits 20% upper circuit

2:48 PM

Contribution to S&P BSE Sensex's gain today

2:40 PM

Cement stocks rise on positive outlook; JK Cement scales fresh record high

Thus far in the calendar year 2020, JK Cement has outperformed the market by surging 12 per cent in the past week, as compared to a per cent decline in the S&P BSE Sensex. In CY19, the stock had zoomed 64 per cent as against a 14 per cent rise in the benchmark index. READ MORE

2:38 PM

Heatmap: S&P BSE Sensex

2:25 PM

Reliance Communications' committee of creditors to meet on Wednesday

Reliance Communications' committee of creditors (CoC) will hold a meeting on Wednesday, the company said in a regulatory filing on Tuesday.

 

"We wish to inform you that the 16th meeting of committee of creditors of Reliance Communications (RCom) is scheduled to be convened on Wednesday, January 8, 2020," RCom said in a filing to BSE. READ MORE

2:14 PM

NEWS ALERT | Ministerial panel approves EoI for Air India divestment: sources to CNBC TV18

Alert: EoI is Expression of Interest

2:13 PM

The last decade for equities

The last decade marked the total domination of US financial assets. The S&P 500 delivered a return of 250 per cent, trouncing all other markets. US equities are now over 50 per cent of most global indices. At $32.5 trillion, equity market capitalisation in the US dwarfs the next biggest country, China at $7 trillion.  READ MORE

1:59 PM

Global Markets check

Asian shares rebounded on Tuesday as investors’ reassessed the risk of an all-out conflict between the United States and Iran, while Wall Street battled back to the black as tech stocks climbed.

MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.7 per cent, recouping almost all of Monday’s losses. Japan’s Nikkei rallied 1.4 per cent and Shanghai blue chips 0.5 per cent. E-Minis for the S&P 500 firmed 0.2 per cent, while EUROSTOXX 50 futures rose 0.4 per cent and FTSE futures 0.6 per cent.

 

Asian shares fell sharply on Monday as Iran and the United States traded threats after an US air strike on January 3 killed a top Iranian commander.

 

The mood calmed a little as the session passed with no new aggression.

1:48 PM

Oil check

Oil prices slid on Tuesday as investors reconsidered the likelihood of Middle East supply disruptions in the wake of the United States killing a top Iranian military commander.

Brent crude fell as much as 1.5 per cent to $67.86 a barrel and was at $68.14, down 77 cents, at 0550 GMT. US West Texas Intermediate (WTI) crude futures were at $62.62, down 65 cents, after earlier dropping 1.5 per cent to an intra-day low of $62.30.

Prices surged during the previous two sessions, with Brent reaching its highest since September while WTI rose to the most since April. The gains followed fears of escalating conflict and potential Middle East supply disruptions after the January 3 drone strike in Baghdad that killed Iran’s Qassem Soleimani. But, some analysts have tempered expectations for a widespread conflict.

(via Reuters)

1:46 PM

Adani Gas up over 3%

1:42 PM

NEWS ALERT | Brokers forum may meet Sebi officials Wednesday on margin circular, reports CNBC-TV18

1:38 PM

EARNINGS ALERT :: GM Breweries Q3

>> Net profit at Rs 14 cr, down 16.3% YoY

>> Revenue at Rs 119.7 cr, down 3.9% YoY

1:29 PM

Market check

1:19 PM

Aster DM Healthcare hits 52-week high as board mulls share buyback

Shares of Aster DM Healthcare gained 5 per cent to hit a 52-week high of Rs 173 on the BSE on Tuesday after the company announced a share buyback plan. “The board of healthcare services provider will be considering a proposal to buyback its equity shares at a board meeting scheduled to be held on Thursday, January 9, 2020,” Aster DM Healthcare said in a regulatory filing. READ MORE

1:18 PM

High oil prices, global tensions threat to improvement in Indian CAD: DBS

Markets view the rally in Brent oil prices, triggered by geopolitical tensions, as a threat to the improvement in India's FY20 current account deficit and forecasts for a balance of payment surplus, according to a report.

 

Downbeat sentiments saw USD-INR exchange rate test past 72 to two-month high, while the benchmark equity indices witnessed mayhem on Monday, said a report by Singapore's banking group DBS. READ MORE

1:10 PM

MARKET UPDATE:: Sensex pares gains

1:09 PM

NEWS ALERT | Iran terms all US troops 'terrorists': Agencies

-- Secretary of Iran’s National Security Council Ali Shamkhani says ‘We have 13 scenarios for revenge on Sulemani’s killing: Agencies

1:00 PM

JSPL reports highest ever quarterly steel production at 1.61 MT in Dec

Jindal Steel and Power Ltd (JSPL) on Tuesday said its steel production stood at 1.61 million tonnes (MT) in the December quarter of ongoing fiscal.

 

"JSPL has witnessed the highest ever quarterly production of 1.61 million tonnes of steel in Q3 FY19-20," the company said in a filing to the BSE. READ HERE

12:55 PM

Rupee check

12:51 PM

Cement stocks trade higher

COMPANY	LATEST(rs)	CHG(rs)	CHG(%)	VOLUME
INDIA CEMENTS	74.00	1.10	1.51	136372
THE RAMCO CEMENT	780.50	29.55	3.94	62963
AMBUJA CEM.	197.35	0.50	0.25	48644
ULTRATECH CEM.	4184.55	31.70	0.76	13463
ACC	1445.40	8.65	0.60	9352

12:40 PM

Most active stocks by volume

COMPANY	PRICE(rs)	CHG(rs)	CHG(%)	VOLUME
SUZLON ENERGY	3.60	0.32	9.76	14196297
VODAFONE IDEA	6.08	0.06	1.00	4924078
RELIANCE POWER	3.13	-0.14	-4.28	2548008
YES BANK	45.35	0.20	0.44	2319923
WELSPUN INDIA	49.20	0.95	1.97	2036651

12:23 PM

NEWS ALERT | Promoters raise stake in Panama Petrochem from 70.49% to 72.82%: BSE filing

12:19 PM

NMDC slips in trade as uncertainty looms over Co's Donamalai unit

>> Centre's amendment to Mining Act doesn't apply to the unit as decision to withdraw Donamalai lease was made before the amendment

>> The decision is open to judicial scrutiny

>> Central govt must make provision for premium if renewal of licence takes place

Alert: Amendment to the Act makes it mandatory for states to renew PSU mining leases

12:18 PM

Nifty sectoral indices at this hour

12:05 PM

Adani Ports has enough leeway to buy out stake in Krishnapatnam Port: S&P

Adani Ports and Special Economic Zone (APSEZ) has sufficient financial headroom to absorb its proposed acquisition in Krishnapatnam Port Company (KPCL), S&P Global Ratings has said. "APSEZ's strong financial performance and flexibility in adjusting capital expenditure (capex) and dividends, and earnings contribution from Krishnapatnam will allow it to maintain its leverage within our rating threshold," the ratings agency said in a statement. READ MORE

11:56 AM

ESAF Small Finance Bank files DRHP for Rs 976 crore IPO with Sebi

Kerala based ESAF Small Finance Bank filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO) of Rs 976 crore on Monday.

 

According to the DRHP, the IPO comprises a fresh issue worth Rs 800 crore and an Offer for Sale (OFS) amounting to Rs 176.2 crore. READ MORE