MARKET WRAP: Sensex up 173 pts, Nifty tops 11,900; IT, realty stocks gain

All that happened in the markets today

3:45 PM

Sectoral trends on NSE at close

3:44 PM

Top gainers and losers at S&P BSE Sensex at close

3:44 PM

Closing Bell

The benchmark S&P BSE Sensex settled off-day's high at 40,412.57 level, up 172.69 points or 0.43 per cent. HDFC, TCS, ICICI Bank, and Infosys were among the top contributors towards the recovery. In the intra-day trade, the Sensex hit a high and low of 40,466.13 and 40,135.37, respectively.

 

On the NSE, the Nifty50 gained 53.35 points, or 0.45 per cent, to end at 11,910.15 level.   

3:25 PM

NEWS ALERT | JSW Steel promoter releases pledge on 5 lakh shares on December: CNBC TV18

3:12 PM

Market check

3:03 PM

NEWS ALERT | FM likely to brief media on Cabinet decisions in evening: TV reports

2:47 PM

NEWS ALERT | Cabinet approves partial relaxation in Credit Guarantee Scheme for NBFCs, HFCs: TV reports

2:42 PM

IIFL sees opportunity in crisis, bets on beleaguered financial sector

IIFL Asset Management Ltd, which oversees $3.3 billion in assets, is set to expand on a strategy of investing in the most stressed area of India’s economy: the financial services industry.

 

The firm aims to eventually attract $1 billion from funds globally to invest in the nation’s privately owned banks, shadow lenders, insurance companies, asset management firms, stock exchanges and credit card providers after expanding an existing $400 million fund in the first half of 2020, said Anup Maheshwari, chief investment officer. READ MORE

2:29 PM

Market Check | Nifty trades below 11,850

2:27 PM

Nifty PSU Bank index extends fall

2:24 PM

Market Check | Sensex slips into the red

2:18 PM

NEWS ALERT | KNR Constructions bags order worth Rs 240.6 cr from Hyderabad Municipal Corp: BSE filing

2:12 PM

Avenue Supermarts hits over two-month low; stock down 8% in a week

Shares of Avenue Supermarts, owner of the DMart brand, were trading lower for the fifth straight day and dipped 2 per cent at Rs 1,701 on Wednesday to hit 12-week low on the BSE. The stock was trading at its lowest level since September 20, 2019. In past one week, it has fallen 8 per cent, as compared to 1 per cent decline in the S&P BSE Sensex. READ MORE

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2:01 PM

Sensex inches higher

1:58 PM

NEWS ALERT | L&T Finance Holdings to raise up to Rs 5,000 cr via NCDs: BSE Filing

-- To issue secured redeemable non-convertible debentures and/or unsecured subordinated redeemable non-convertible debentures eligible for Tier II Capital of face value of Rs. 1,000 each, with a shelf limit of Rs. 5,000 crore;

-- Directors have approved the Tranche I Prospectus dated December 9, 2019, in connection with the issue of Secured Redeemable Non-Convertible Debentures of face value of Rs.1,000 each for an amount of Rs. 500 crore with an option to retain oversubscription up to Rs. 1,000 crore aggregating up to Rs. 1,500 crore.

1:53 PM

NEWS ALERT | Govt proposes capital infusion in India Infra Finance Company: sources to CNBC TV18

-- To infuse Rs 5,000 cr

-- Proposal to remove restrictions on IIFCL from largely financing only PPP projects

-- Cabinet approval sought; IIFCL may fund all infra projects post approval

1:49 PM

Asian Markets check

Asian stocks extended earlier gains on Wednesday, although advances were patchy ahead of key central bank meetings while the pound wobbled as opinion polls pointed to a tight UK election later this week.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.5 per cent higher. Hong Kong’s Hang Seng and Australia’s S&P/ASX 200 led gains with 0.7 per cent rises. Shanghai blue chips rose 0.2 per cent.

 

Japan’s Nikkei was unchanged. Futures pointed to flat open in Europe and on Wall Street.

(inputs from Reuters)

 

1:39 PM

Saudi Aramco shares surge 10% in trading debut after world's largest IPO

Saudi Aramco shares surged as the oil producer began trading after its initial public offering (IPO), vaulting Saudi Arabia’s stock market into the ranks of the world’s largest. The stock jumped the daily 10 per cent limit to 35.20 riyals at 10:31 am in Riyadh. Trading kicked off after an opening auction from 9:30 a.m. to 10:30 a.m. local time. READ MORE

1:33 PM

PSBs want ex-billionaire Mallya to be declared bankrupt over $1.52 bn debt

Twelve state-owned Indian banks are petitioning for ex-billionaire Vijay Mallya to be declared bankrupt over 1.15 billion pounds ($1.52 billion) in unpaid debts.

 

The banks and an asset restructuring company, led by the State Bank of India, have taken the tycoon to a London court in what lawyers have described as “the end of the road” in their long-running battle. Mallya hasn’t paid anything toward the debt, the banks’ lawyers told the court Tuesday. READ REPORT

1:24 PM

New IPO companies fare worse than index ones in corporate governance: Study

Recently listed companies scored 54, compared to 58 for the S&P BSE 100 companies and 61 for companies in the S&P Sensex companies, showed the Indian Corporate Governance Scorecard report brought out by governance firm Institutional Investor Advisory Services India Limited (IiAS). The framework was developed in association with Asia’s oldest exchange BSE and the International Finance Corporation (IFC). The initiative had financial support from the government of Japan. READ MORE

1:13 PM

Market check

1:12 PM

Auto stocks trade lower

COMPANY NAME	LATEST	HIGH	LOW	CHG (rs)	CHG(%)
TATA MOTORS	158.15	161.80	157.90	-1.50	-0.94
ASHOK LEYLAND	75.90	77.75	75.80	-0.90	-1.17
TATA MOTORS-DVR	64.10	66.75	64.10	-1.30	-1.99
HERO MOTOCORP	2279.45	2345.00	2263.25	-50.95	-2.19
ESCORTS	588.15	596.10	585.85	-3.10	-0.52
M & M	504.80	511.20	504.40	-1.00	-0.20

1:03 PM

NEWS ALERT | Saudi Aramco lists at 35.20 Riyals per share on Tadawul Exchange: CNBC TV18

-- Saudi Aramco valued at $1.7 trillion

1:03 PM

Expansions, clean track record helping Divi's Labs tap new opportunities

Divi’s Laboratories, which is trading near the all-time high it scaled last month-end, is up over 20 per cent from August lows. The Street’s confidence stems from the company’s clean regulatory track record, and strong business prospects.

 

With intensified competition and pricing pressure in the US markets, drug manufacturing majors are increasingly looking for outsourcing options to control costs. READ MORE

12:52 PM

NTPC up 2%

12:46 PM

MARKET UPDATE:: GSFC, GNFC, J&K Bank, Cummins India, La Opala RG, and 18 other BSE500 stocks hit 52-week lows

12:40 PM

NEWS ALERT | Adani Transmission to sell 25.15% stake in subsidiary to Qatar Invt Authority: BSE filing

-- QIA's investment in Adani Electricity Mumbai, subsidiary of Adani Trans, will be $450 m (Rs 3,200 Cr).

-- The transaction is expected to complete in early 2020 

 

12:39 PM

Nifty sectoral indices at this hour

12:26 PM

BUZZING STOCK:: Godrej Properties up 2%

12:15 PM

Nifty PSU Bank index trades lower