MARKET WRAP: Sensex up 115 pts on positive global cues; auto stocks rally

All that happened in the markets today

3:42 PM

Sectoral trends at NSE at close

3:41 PM

Sensex heatmap at close

3:41 PM

Closing Bell

>> At the index level, the benchmark S&P BSE Sensex, which hit a fresh high of 41,698.43 in the intra-day deals, closed at 41,673.92 level, up 115.35 points or 0.28 per cent.

>> On the NSE, the Nifty50 settled at 12,259.80-mark, up 38.15 points or 0.31 per cent. The index hit a record high of 12,268.35 level.

3:20 PM

NEWS ALERT | Suven Life gets EIR from US FDA for Pashamylaram unit: BSE filing

EIR for Pashamylaram unit indicates closure of the inspection

Alert: EOIR is Establishment Inspection Report

 

3:14 PM

NEWS ALERT | Want govt to make doing business easy: Sunil Bharti Mittal, reports CNBC TV18

3:05 PM

YES Bank declines on rating downgrade by India Ratings; rebounds later

Shares of YES Bank moved higher by 7.4 per cent to Rs 50.20, bouncing back nearly 12 per cent from its intra-day low of Rs 45, on the BSE on Thursday on the back of heavy volumes.

 

A combined 188 million equity shares have changed hands on the NSE and BSE till 02:30 pm. In comparison, the S&P BSE Sensex was up 0.31 per cent at 41,686 levels. READ MORE

2:50 PM

Tech view: Understanding double top and bottom patterns

Double top and bottom patterns are formed from consecutive rounding tops and bottoms. These patterns are often used in conjunction with other indicators in technical charting. A double top pattern is formed from two consecutive rounding tops.

 

The first rounding top forms an upside-down ‘U’ pattern. Rounding tops can often be an indicator for a bearish reversal, as they often occur after an extended bullish rally. If a double top occurs, the second rounded top will usually be slightly below the first rounded tops peak indicating resistance and exhaustion.  READ MORE

2:35 PM

$110 bn question: Who runs Tata Sons if SC backs tribunal on Cyrus Mistry

How do you unscramble an egg called Tata Sons? The second law of thermodynamics says orderly things gradually turn more chaotic, and there’s no going back, no separating yokes from whites.

 

But the appeals judge of India’s corporate law arbiter thinks he can reverse time. Or so it would appear from his order declaring that Cyrus Mistry, deposed three years ago as executive chairman of the holding company of India’s leading conglomerate, must be reinstated because ousting him was illegal. READ MORE

2:27 PM

Top gainers on the BSE at this hour

2:17 PM

Clariant Chemicals surges 12% as board approves restructuring plan

Shares of Clariant Chemicals (India) moved higher by 12 per cent to Rs 356 on the BSE on Thursday after the board approved the restructuring plan by sale of Masterbatch Business to PolyOne Polymers for Rs 426 crore. The stock of specialty chemicals was trading at its highest level since April 4, 2019.
 

“The board approved the sale of Masterbatch Business to PolyOne Polymers India or its affiliate in India, on a going concern basis by way of slump sale for total consideration of Rs 426 crore,” Clariant Chemicals said in a regulatory filing. READ MORE

2:05 PM

BUZZING STOCK | Torrent Power jumps 3%

2:01 PM

PNB Housing Finance slips nearly 2%

1:51 PM

Sector watch | Pharma stocks slip in trade; index down 0.5%

1:23 PM

NEWS ALERT | Lupin receives US FDA approval for Mycophenolic Acid Delayed-Release tablets USP: BSE filing

-- Approval for 180 mg and 360 mg tablets

1:17 PM

NEWS ALERT | SC rules in favour of Dalmia Bharat Cement Vs I-T Dept: CNBC TV18

-- Court says I-T dept should have allowed late filing that co made in 207 as the issue was pending in NCLT

 

Alert: Dalmia Bharat had claimed Rs 56 cr accumulated loss in 2016-17 while I-T dept disallowed filing citing delay
 

1:05 PM

Market check | Sensex pare gains

12:56 PM

NEWS ALERT | Kaya to borrow Rs 7 cr each from co’s directors Harsh Mariwala & Rajendra Mariwala: BSE Filing

12:52 PM

Prince Pips and Fittings IPO: Issue subscribed 34% so far on Day 2

12:47 PM

Clariant Chemicals surges 12% as board approves restructuring plan

Shares of Clariant Chemicals (India) moved higher by 12 per cent to Rs 356 on the BSE on Thursday after the board approved the restructuring plan by sale of Masterbatch Business to PolyOne Polymers for Rs 426 crore. The stock of specialty chemicals was trading at its highest level since April 4, 2019. READ MORE  

12:37 PM

Index Contributors at this hour

12:27 PM

Sell-off in debt markets may be overdone; expect rebound in 2020: Analysts

The recent tumble in Indian bonds that’s made them worst performers among major Asian nations this month need not spell a long-term rout.

 

Yields have climbed 25 basis points to 6.71% after the central bank’s decision on Dec. 5 to hold policy combined with worries over government borrowings. Traders say the sell-off may be overdone as the pause doesn’t necessarily mean the easing cycle has ended. READ MORE

12:14 PM

NEWS ALERT | ICRA downgrades YES Bank's ratings, outlook remains negative: CNBC TV18

12:10 PM

Market check | Sensex gains 100 pts

11:59 AM

Avanti Feeds trades higher for sixth straight day, hits 52-week high

Shares of Avanti Feeds were trading higher for the sixth straight day on Thursday on the back of heavy volumes. The stock was up 6 per cent at Rs 581, hitting 52-week high on the BSE. Shares of the company, which engaged in shrimp processing and manufacturing of prawn and fish feeds, surpassed their previous high of Rs 571 touched on November 11, 2019. READ MORE

 

11:45 AM

Market check | Sensex hits fresh record high of 41,646.96

11:42 AM

STOCK ALERT | HDFC Bank crosses $100 billion market cap

-- Stock hits new high of Rs 1,304,

-- Market capitalisation stood at Rs 7.12 trillion on the BSE

11:37 AM

NEWS ALERT | China announces new tariff exclusions for some products from US: Reuters

11:36 AM

NEWS ALERT | Clariant Chemicals to sell Masterbatch biz to PolyOne Polymers for Rs 426 cr: BSE Filing

11:21 AM

NEWS ALERT | UTI AMC DRHP may be filed this week for OFS having total size of Rs 3,800-4,800 cr: Sources to CNBC TV18

-- Market Cap for UTI AMC seen at Rs 12,000 -15,000 cr; Market cap to AAUM ratio likely at 7.5-10%

-- SBI, LIC, BoB to sell max 1.05 cr shares each, PNB & T Rowe price 38 lakh shares each

-- Citi, BofAML, ICICI Sec, JM FIn, Axis Cap, SBI Cap, likely bankers to UTI AMC issue

11:17 AM

BROKERAGE RADAR | Reliance Securities on Gujarat Gas

We maintain BUY recommendation with a DCF-based Target Price of Rs 249, based on WACC of 9.2% and 2% terminal growth rate, which implies 17% upside from the CMP, which along with 2% dividend yield would be significantly higher than CoE (12%).