MARKET WRAP: Sensex dips 127 pts, Nifty below 12,000; PSBs, metals decline

All that happened in the markets today

3:41 PM

Sectoral trends at NSE at close

3:40 PM

Sensex heatmap at close

3:34 PM

Closing Bell

-- The benchmark S&P BSE Sensex closed at 40,675.45 level, down 126.72 points, or 0.31 per cent. 22 of the 30 stocks listed on the index ended the day in the red.

-- On the NSE, the Nifty50, which breached below the crucial 12,000-mark after 5 trading sessions, and settled 47 points, or 0.39 pe cent, lower at 12,001-mark.

3:22 PM

STOCK ALERT | Bajaj Auto is trading close to its 52-week high of Rs 3,290 touched on November 1, 2019

-- Bajaj Auto, up 3% at Rs 3,260, is the top gainer among Sensex stocks

3:12 PM

Sterling and Wilson tumbles 9%, hits fresh low since listing

Shares of Sterling and Wilson Solar slipped to its lowest level since listing, down 9 per cent to Rs 256, on the BSE on Tuesday.

 

The stock of the company, which is engaged in solar engineering, procurement and construction business, slipped below its previous low of Rs 260 touched on November 20, 2019. It got listed on August 20, 2019. READ MORE

2:49 PM

Sharp recovery in Sensex

2:46 PM

Nifty IT index recovers from day's low

2:45 PM

With history of bankruptcy, top Yes Bank investor may not meet RBI norms

Erwin Singh Braich, who has promised to invest $1.2 billion in beleaguered Yes Bank, has a history of failed businesses, bankruptcies, litigation with the Canadian government, police and family dispute over properties, as per court filings. The troubled history will make it difficult to clear the investment and whether Braich will clear the “fit and proper” criteria for investments in banks, say analysts.

 

Yes Bank has said none of the potential investors will get more than 25 per cent stake in the bank but taking into account, Braich’s investment is worth Rs 8,640 crore as compared to Rs 15,557 crore market valuation of Yes Bank as of today. READ MORE

2:33 PM

STOCK ALERT:: Zee Entertainment extends fall; stock slips 23% in seven days

2:33 PM

NEWS ALERT | Only sustainable solution to telecom crisis is increase in tariffs: COAI to TRAI

-- Only feasible solution for TRAI to develop a minimum tariff for data: COAI to TRAI

-- See urgent need for tariff correcion for data, 50 times lower than developed markets

(via CNBC TV18)

 

2:26 PM

Zee Entertainment dips 6%

2:22 PM

Top losers on BSE500 today

COMPANY	PRICE(rs)	CHG(rs)	CHG(%)
VODAFONE IDEA	6.92	-0.87	-11.17
BHARTI INFRA.	241.40	-23.50	-8.87
DISH TV	12.02	-1.02	-7.82
JINDAL STEEL	147.80	-11.60	-7.28
HFCL	18.25	-1.40	-7.12

2:16 PM

Steel sector growth to slow down on weak auto, manufacturing order: Moody's

India's steel demand will slow down on account of weak auto and manufacturing order, but will remain strongest in Asia, Moody's Investors Service said on Tuesday. India will remain the world's second-largest steel producer behind China after having overtaken Japan in 2018, it added. READ MORE

2:15 PM

Buzzing | Zee Ent slips 7%

2:06 PM

NEWS ALERT | Public and private banks wrote off bad loans worth Rs 80,893 cr between April 1-September 30: MoS Finance

-- No decision yet on recommendations of direct tax code panel report

2:03 PM

Global Markets check

Asian shares fell on Tuesday after US President Donald Trump stunned markets by imposing tariffs on imports from Brazil and Argentina, rekindling fears over global trade tensions, while weak US factory data added to the investor gloom.

But European shares, which had also slumped following Trump’s tariff announcement, were expected to rise on Tuesday. Pan-region Euro Stoxx 50 futures were up 0.41 per cent in early trades, while German DAX futures added 0.45 per cent and FTSE futures gained 0.26 per cent. US S&P 500 e-mini stock futures also pointed higher, rising 0.2 per cent to 3,120.5.

 

MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.43 per cent as Australian shares recorded their worst day in two months with a 2.2% drop. Japan’s Nikkei shed 0.64 per cent.

(via Reuters)

1:58 PM

Heatmap: S&P BSE Sensex

1:54 PM

Prestige Estates, Polycab India hit 52-week high in subdued market

Shares of Prestige Estates and Polycab India hit their respective 52-week highs on Tuesday in an otherwise weak market. These stocks were trading higher in the range of 3 per cent to 7 per cent, as compared to around half a per cent decline in the S&P BSE Sensex in the afternoon deals.
 

Shares of Prestige Estates Projects, the real estate developer, were up for the fifth straight trading day, up 7 per cent at Rs 345 on Tuesday on optimisation of the strong pipeline of rental assets yielding growth in rentable income. The stock was trading close to its all-time high of Rs 356, touched on January 2018. READ REPORT HERE

1:43 PM

Rupee check

1:34 PM

NEWS ALERT | Future Consumer appoints Rajnikanth Sabnavis as CEO w.e.f Jan 1, 2020: BSE filing

1:34 PM

IPO Alert | Ujjivan Small Finance Bank's IPO subscribed 3x till 1:15 PM: CNBC TV18

1:31 PM

HDFC Bank sees signs of rural revival as wider economy remains sluggish

HDFC Bank, India’s most valuable lender by market capitalisation, sees tentative signs of a revival in rural areas at a time when the wider economy is sputtering.

 

“The recent loan outreach programs underway in rural areas have given us the sense that the consumption in rural and semi-urban areas is turning more positive,” HDFC Bank Executive Director Kaizad Bharucha said in an interview last week. As of end-September, 52 per cent of the bank’s outlets were in rural and semi-urban India, a part of the economy that accounts for at least half of the national output. READ MORE

1:15 PM

BUZZING STOCK:: L&T Finance Holdings dips 3%

1:06 PM

Paper stocks trade lower

COMPANY NAME	LATEST	HIGH	LOW	CHG (rs)	CHG(%)
BALLARPUR INDS.	0.63	0.63	0.60	0.03	5.00
CENTURY TEXTILES	467.85	479.80	465.45	-2.15	-0.46
JK PAPER	115.50	118.80	114.75	-2.80	-2.37
ORIENT PAPER	23.65	24.25	23.60	-0.55	-2.27
PUDUMJEE PAPER	12.80	13.40	12.71	-0.57	-4.26

12:53 PM

Contribution to Sensex's fall today

12:38 PM

Nifty sectoral indices at this hour

12:30 PM

NEWS ALERT | SAT asks Karvy to seek NSE panel's intervention on suspension of operations: Cogencies

12:20 PM

YES Bank down for third straight day; stock trades near one-month low

Shares of YES Bank were trading lower for the third day in a row, down 5 per cent at Rs 60.65 on Tuesday on concerns over the uncertainty regarding equity capital fund infusion. The stock of the private sector lender is trading close to its one-month low price of Rs 59.95. In the past three trading days, the stock has fallen 13 per cent after the bank announced, on Friday evening, that its board had agreed to raise $2 billion from an assortment of investors. READ MORE

12:08 PM

Govt open to further reforms to attract more investment: Sitharaman

Finance Minister Nirmala Sitharaman on Tuesday said the government is open to further reforms for making India a more attractive investment destination. The government has taken various steps, including reduction of corporate tax, she said at India-Sweden Business Summit in New Delhi. READ MORE

11:54 AM

Pioneer Distilleries down 5% after fixing swap ratio for merger with USL

Shares of Pioneer Distilleries were locked in 5 per cent lower circuit at Rs 130.70 on the BSE on Tuesday after the board fixed swap ratio of 1:4.7 for the proposed merger with parent company United Spirits (USL). The stock slumped 10 per cent from its intra-day high of Rs 144 touched in early morning trade. READ MORE