MARKET WRAP: Indices end flat, Nifty holds 10,800; Max India rallies 20%

The S&P BSE Sensex added 33 points or 0.1 per cent to settle at 35,963, with Bharti Airtel (up 5 per cent) being the top gainer and HDFC (down nearly 2 per cent) the worst laggard.

3:37 PM

Sectoral performers of the day on NSE

3:35 PM

BSE Sensex: gainers and losers of the day

3:33 PM

Market at close

 

The S&P BSE Sensex ended at 35,963, up 33 points, or 0.1 per cent, while the broader Nifty50 index settled at 10,805, up 14 points or 0.1 per cent.

3:16 PM

ONGC rebounds 6% from day's low as board mulls share buyback

Shares of Oil and Natural Gas Corporation (ONGC) have moved higher by 5% to Rs 150, bouncing back 6% from the intra-day low of Rs 141 on BSE, after the company said its board will meet on Thursday, December 20, 2018, to consider a share buyback proposal. READ MORE

3:01 PM

RBI vs govt: IMF says 'operational independence' of central banks important

The International Monetary Fund (IMF) on Thursday said "operational independence" of central banks like the Reserve Bank of India (RBI) was important for carrying out their responsibilities.

 

IMF Director Gerry Rice said this in response to a question on the recent developments at the RBI. He, however, added that his views were in the context of international experiences. READ MORE

2:45 PM

ONGC rebounds 6% as board mulls share buyback

 

Shares of Oil and Natural Gas Corporation (ONGC) have moved higher by 5% to Rs 150, bouncing back 6% from the intra-day low of Rs 141 on BSE, after the company said its board will meet on Thursday, December 20, 2018, to consider a share buyback proposal. Read more

2:27 PM

ONGC to consider share buyback next week, stock rises 4%

2:18 PM

Stocks that touched 52-week low on BSE500

COMPANY	PRICE( )	52 WK LOW	CHG( )	CHG(%)
NARAYANA HRUDAYA	200.40	200.40	-5.05	-2.46
TEJAS NETWORKS	201.40	194.25	3.35	1.69
TIME TECHNOPLAST	101.40	93.00	-0.55	-0.54

2:01 PM

NEWS ALERT RBI board meeting concludes

1:59 PM

Market check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	35,923.93	-5.71	-0.02
S&P BSE SENSEX 50	11,290.71	+0.40	0.00
S&P BSE SENSEX Next 50	32,259.67	-56.71	-0.18
S&P BSE 100	11,059.40	-2.58	-0.02
S&P BSE Bharat 22 Index	3,395.28	+2.09	+0.06

1:47 PM

Saudi Arabia planning to slash oil exports to the US in coming weeks

After flooding the US market in recent months, Saudi Arabia plans to slash exports to the world’s largest oil market in the coming weeks in an effort to dampen visible build-ups in crude inventories.

 

American-based oil refiners have been told to expect much lower shipments from the kingdom in January than in recent months following the Opec agreement to reduce production, according to people briefed on the plans of state oil company Saudi Aramco. READ MORE

1:35 PM

SC puts Fortis-IHH deal on hold as Daiichi alleges fresh encumbrances

In a big setback for Fortis Healthcare, the Supreme Court (SC) on Friday ordered to maintain a status quo with respect to stake sale of the hospital chain to Malaysia's IHH Healthcare Berhard.

 

Hearing a contempt plea moved by Daiichi Sankyo Co, the apex court today issued notices to Indiabulls Housing Finance, Oscar Investment and RHC Holding, and directed all the parties to maintain a status quo. READ MORE

1:19 PM

Rajan, Gopinath say India at risk if govt abandons macro-economic stability

India, one of the world’s fastest-growing major economies, risks being pushed into a crisis if the government sacrifices macro-economic stability for growth, according to economists including International Monetary Fund Chief Economist Gita Gopinath and the nation’s former central bank governor Raghuram Rajan.

 

To achieve macroeconomic stability, the nation needs to maintain low and stable inflation, ensure combined government budget deficit leaves room for private investment and keep a check on external-financing requirement to reduce vulnerabilities, they prescribed in a report, An Economic Strategy for India, released in New Delhi Friday. READ MORE

1:03 PM

Max India rallies 26% in two days on talks of exiting health insurance biz

Shares of Max India have moved higher by 13% to Rs 75.65 per share, rallying 26% in the past two trading days on the BSE on back of heavy volumes. The rally comes on the back of reports that it is likely to exit from the health insurance business. READ MORE
 

12:50 PM

Top gainers and losers in S&P BSE Sensex

12:42 PM

WPI-based inflation down to 4.64% in Nov from 5.28% the previous month

The rate of inflation based on Wholesale Price Index (WPI) eased to 4.64 per cent in November from 5.28 per cent the previous month. November food inflation also saw a drop to -1.96% as compared to -0.64% month on month (MoM). According to the government data released Friday, food articles witnessed softening of prices with deflation at 3.31 per cent in November, against 1.49 per cent in October. READ MORE

12:25 PM

Top gainers in BSE 50:

COMPANY	PRICE( )	CHG( )	CHG(%)	VOLUME
MAX INDIA	77.00	10.20	15.27	734624
RELIANCE NAV.ENG	16.40	2.14	15.01	1073462
PC JEWELLER	85.50	7.15	9.13	5508709
POWER FIN.CORPN.	92.10	5.95	6.91	1341322
VODAFONE IDEA	37.30	2.40	6.88	2221024

12:12 PM

Market check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	35,908.98	-20.66	-0.06
S&P BSE SENSEX 50	11,292.72	+2.41	+0.02
S&P BSE SENSEX Next 50	32,465.43	+149.05	+0.46
S&P BSE 100	11,071.64	+9.66	+0.09
S&P BSE Bharat 22 Index	3,395.21	+2.02	+0.06

12:06 PM

NEWS ALERT November WPI at 4.64% vs 5.28% (MoM)

11:59 AM

Web Exclusive HDIL, Oberoi Realty, DLF: Three realty stocks looking good on the charts

 

NIFTY REALTY INDEX: After slipping below the crucial 200-daily moving average (DMA) recently, the Nifty Realty index has made a sharp rebound. The consolidation in the range between Rs 215 – Rs 200 in the oversold region has helped it to regain the momentum, technical chart suggests. The current formation on the chart indicates possible "Upward Broadening Triangle Pattern", which suggests volatility in the stocks as swings in trend remain uncertain. Read more
 

11:45 AM

News Impact Fortis Healthcare cracks 14% as SC puts sale to IHH on hold; recovers later

Shares of Fortis Healthcare fell as much as 14 per cent to Rs 130 apiece on the National Stock Exchange (NSE) in the intra-day trade after the Supreme Court put company's sale to IHH on hold.

 

Earlier, the Malaysian firm IHH Healthcare Berhad made an open offer to acquire additional 26 per cent stake in Fortis Healthcare which was scheduled to commence on December 18 and close on January 1, 2019, as per the regulatory filing. Read more

 

11:33 AM

Sebi's decision to ease OFS norms may help a number of small companies

 

The Securities and Exchange Board of India’s (Sebi’s) decision to ease offer for sale (OFS) norms is likely to help a number of small companies, including public sector firms.

 

The markets regulator, in its board meeting recently, had said it would expand the list of companies that can use the route to beyond the top 200 firms. “The OFS mechanism will be available to shareholders of companies with market capitalisation of Rs 10 billion and above,” said the Sebi note. Read more

11:17 AM

Telecom shares in focus; Bharti Airtel, Vodafone Idea gain up to 10%

Shares of telecom services provider such as Bharti Airtel and Vodafone Idea have rallied by up to 6% on BSE in an otherwise subdued market after Telecom Disputes Settlement and Appellate Tribunal (TDSAT) quashes Trai's predatory pricing rule. Bharti Airtel has rallied 10% to Rs 333, while Vodafone Idea climbed 8% to Rs 37.60 on BSE in the intra-day trade. Read more

 

11:13 AM

Fortis shares fall 10% as Supreme Court puts Fortis Healthcare sale on hold

11:11 AM

NEWS ALERT Supreme Court puts Fortis Healthcare sale on hold

11:04 AM

Reliance Naval and Engineering climbs 13% post Rafale verdict

11:00 AM

GMM Pfaudler hit record high; surges 55% in five months

Shares of GMM Pfaudler rallied 9% to Rs 1,247 apiece on Friday, extending their 4% gain on Thursday on the BSE in an otherwise range-bound market on expectations of strong earnings growth.
 

The stock of capital goods company was trading at its record high level, it has rallied 55% in the past five months. READ MORE

10:46 AM

Top gainers in BSE500

COMPANY	PRICE( )	CHG( )	CHG(%)	VOLUME
MAX INDIA	74.70	7.90	11.83	168167
MOTHERSON SUMI	174.35	13.00	8.06	802713
PC JEWELLER	82.50	4.15	5.30	2956502
HEIDELBERG CEM.	160.80	7.65	5.00	24718
BOMBAY DYEING	104.45	4.95	4.97	161816

10:38 AM

Nirmal Bang Securities on Alcoholic Beverage Sector

 

Despite reporting significantly improved earnings performance in the past 12 months, stocks of alcoholic beverages companies have largely moved sideways in line with sluggish markets. This consolidation has significantly improved their valuations and they are now trading in line or below historical valuation averages. Considering that growth will be significantly above historical averages and ahead of peers in the consumer space, we find the valuations to be attractive for the sector and have assigned Buy rating on United Breweries and United Spirits.

10:22 AM

BS Primer: What is side-pocketing in MFs and how it works in investment portfolio?

 

Side-pocketing is a popular tool in the hedge fund and asset management industry. It is a term used for segregating bad or illiquid assets from the healthier or liquid ones. In layman’s terms, it is separating the bad apples from the good ones. Side-pocketing is in the news after the Sebi board on Wednesday formally allowed this option for debt schemes. READ MORE