MARKET WRAP: Indices off record highs, Nifty above 12,350; small-caps rally

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 mounted the crucial 42,000-mark in the intra-day trade today, and continued its run to hit a high of 42,059.45. The index, however, closed at 41,932.56 level, up 59.83 points or 0.14 per cent.

>> On the NSE, the broader Nifty50 index hit a fresh high of 12,389.05-mark. The index, eventually, settled at 12,355.50-mark, up 12.20 points or 0.099 per cent.

3:21 PM

STOCK ALERT :: 0.36% equity of BEML

3:19 PM

Wockhardt becomes first Indian company to get nod for novel antibiotics

Wockhardt now plans to take this new drug to emerging markets and is eyeing the Chinese market too through partnerships. China is the largest market for antibiotics globally in terms of volumes.

 

The firm has a pipeline of three more antibiotic candidates for which, it is planning to start clinical trials soon. It said the new drugs were a result of 20 years of research. READ MORE

3:10 PM

Index Contributors at this hour

2:57 PM

Small, midcaps see best start in 3 yrs; will 2020 see meaningful recovery?

So far in January, the S&P BSE SmallCap index has climbed over 6 per cent thus outperforming the benchmark S&P BSE Sensex, which has gained 1.5 per cent. The S&P BSE MidCap index has added 3.6 per cent during the period. In fact, this is their best start to a new year in the past three calendar years. Earlier, in 2017, small-cap (up 5.34 per cent) and midcap indices (up 5.05 per cent) had rallied more than 5 per cent during the same period. In the past two calendar years; however, they posted negative returns. READ MORE

2:45 PM

Why BNP Paribas expects markets to soar despite poor economic indicators

Brokerage firm BNP Paribas believes that Indian stock market indices are likely to head higher despite recent new highs, coming on the back of lower growth and other poor economic indicators. It believes that the source of a resilient market may lie in factors outside the domestic issues that may be dominating the headlines. READ MORE

2:28 PM

Global Markets check

World stocks inched ahead to a record high on Thursday after the United States and China signed an initial deal to defuse their 18-month trade war. 

MSCI’s broadest index of world stocks firmed 0.03 per cent in Asia after closing at record level on Wednesday while its index on Asia-Pacific shares outside Japan rose 0.13 per cent, with India and Australia hitting record highs.

 

Japan’s Nikkei rose 0.14 per cent while mainland China’s Shanghai composite index was almost flat. The pan-European STOXX 600 index was up 0.1 per cent and German DAX futures ticked up 0.1 per cent in early trade.

2:22 PM

Telecom stocks trade higher ahead of AGR judgement

COMPANY	LATEST(rs)	CHG(rs)	CHG(%)	VOLUME
VODAFONE IDEA	6.02	0.02	0.33	22537828
BHARTI AIRTEL	473.65	5.90	1.26	315392
TEJAS NETWORKS	93.95	1.35	1.46	4271

2:21 PM

BUZZING STOCK:: PNB Housing surges 6%

2:08 PM

Bharti Airtel up 2%, nears 52-week high on successful QIP offering

Shares of Bharti Airtel gained 2 per cent to Rs 477 on the BSE on Thursday after a successful fund raising exercise through completion of qualified institutional placement (QIP) and pricing of foreign currency convertible bonds (FCCBs). The stock of the country’s largest integrated telecommunications company was trading close to its 52-week high of Rs 486, touched on December 2, 2019. READ MORE

2:01 PM

MARKET UPDATE:: Sensex inches higher

1:46 PM

Rupee check

1:42 PM

BSE500 stocks that hit 52-week high today

COMPANY	PRICE(rs)	52 WK HIGH	CHG(rs)	CHG(%)
ADANI ENTERP.	221.30	222.50	4.75	2.19
APL APOLLO	1941.00	1968.95	5.95	0.31
APOLLO HOSPITALS	1582.00	1606.00	69.30	4.58
AU SMALL FINANCE	874.95	885.00	16.45	1.92
AVANTI FEEDS	744.75	747.50	47.50	6.81

1:33 PM

What action did Modi government take on promises in its 2019-20 budget?

Even as finance minister Nirmala Sitharaman brainstorms over Budget 2020-21, there are a host of promises made by the government in the Budget it presented in July 2019 after coming to power for a second term. Here is a look at the actions that were taken on the promises made by Sitharaman in her first budget:

 

1. In the second phase of PMAY-G, during 2019-20 to 2021-22, 1.95 crore houses are proposed to be provided to the eligible beneficiaries. READ MORE

1:12 PM

MARKET UPDATE:: Sensex back in the green

1:11 PM

Nestle India hits fresh all-time high; m-cap nears Rs 1.5-trillion

Shares of Nestle India hit a new all-time high of Rs 15,330 after gaining 3 per cent on the BSE on Thursday amid expectations of another good quarter. The packaged foods company is schedule to announce its October-December quarter (Q4CY19) results on February 13, 2020. The stock has surpassed its previous high of Rs 15,147, recorded on October 31, 2019. In the past month, Nestle India has outpaced the market by gaining 10 per cent, as compared to 2 per cent rise in the S&P BSE Sensex. READ MORE

12:52 PM

Heatmap: S&P BSE Sensex

12:50 PM

EMs look attractive in 2020 from a valuation standpoint: Satish Betadpur

The emerging markets look attractive in 2020 from a valuation standpoint, says Satish Betadpur, managing director, head of investments – India, State Street Global Advisors.

 

In an interview with Business Standard, on the sidelines of the CFA Society India’s 10th India Investment Conference, he says polarisation in Indian equities will continue until the investment climate changes and companies get back their pricing power. READ FULL INTERVIEW HERE

Satish Betadpur

12:37 PM

Bharti Airtel gains 1%

12:24 PM

Rising sea levels pose long-term risk to sovereign credit ratings: Moody's

Economic shocks stemming from rising sea levels pose a long-term risk to the sovereign credit ratings of dozens of countries which have large areas at risk of submersion, including Vietnam, Egypt, Suriname and the Bahamas, Moody's said on Thursday. Climate science suggests that sea levels will continue to rise for decades, contributing to increasingly frequent natural disasters such as storm surges, floods and cyclones, the credit rating agency said in a report. READ MORE

12:21 PM

Nearly 91 companies hit 52-week highs on the BSE today

12:06 PM

Broader markets outperform benchmarks

11:59 AM

NEWS ALERT | SC reserves judgement in the JSPL Sarda Mines case: CNBC TV18

>> Odisha Govt agrees to withdraw objection to JSPL transporting Rs 2000 cr of iron ore on receipt of undertaking from Sarda Mines

11:55 AM

BUZZING STOCK:: Apollo Hospitals zooms 5%

11:44 AM

STOCK UPDATE:: Wockhardt gets Indian regulator's approves for new antibiotics

11:38 AM

NEWS ALERT | Oil Ministry floats Cabinet note for a national gas trading hub for inter-ministerial comments: CNBC TV18

11:35 AM

Chart Check: 4 small-cap stocks that gave decent returns in last 6 months

In the calendar year 2019 (CY19), benchmark indices scaled new peaks while mid and small-cap indices continued to reel under pressure and gave negative returns for the second consecutive year. The slide was even sharper in the small-cap as the S&P BSE SmallCap index fell around 7 per cent whereas the S&P BSE MidCap index slipped 3 per cent. READ MORE

11:23 AM

Nifty sectoral indices at this hour