MARKET WRAP: Sensex rises 204 pts; YES Bank hits 52-week low; Jet gains 4%

Among the sectoral indices, the Nifty IT index settled 2.7 per cent higher led by a rise in MindTree, Infosys and Tata Consultancy Services (TCS) which rose in the range of 4 to 5.7 per cent.

3:37 PM

Top sectoral gainers and losers on NSE

3:36 PM

S&P Sensex: Top gainers & losers

3:34 PM

Market at close

 

The S&P BSE Sensex gained 204 points or 0.57 per cent to settle at 35,717 while NSE's Nifty50 index added 43 points or 0.40 per cent to end the session at 10,729.

3:25 PM

Stock impact: Bank of Baroda falls over 3.5% on NSE

3:24 PM

NEWS ALERT BoB official: New merged entity likely to be operational from April 1

3:23 PM

NEWS ALERT BoB offcial says swap ratio of proposed merger with 2 PSU banks to be decided by December-end, reports CNBC-TV18

 

2:58 PM

OMCs fall on rise in crude prices

2:53 PM

Power Finance Corporation, REC fall 10% on merger reports

 

Shares of state-owned lenders to utilities REC and Power Finance Corporation (PFC) are down 10% each on BSE amid reports that the government is considering merger of these two companies. REC has slipped 10% to Rs 110, while PFC dipped 10.5% to Rs 91 on BSE in the intra-day trade on Wednesday. In comparison, the S&P BSE Sensex was up 0.61% at 35,730 points at 02:17 pm. Read more

2:40 PM

Why stock valuations don't matter much in global emerging markets

 

Like the Nasdaq, emerging markets are no strangers to booms and busts. Unlike the US market, valuations no longer matter much outside the developed world. That’s because sell-side analysts’ earnings estimates are unreliable. The 10 per cent correction in the Nasdaq 100 Index in October shouldn’t have surprised US analysts – they’ve been revising down earnings estimates since April, when trade tensions started to brew. READ MORE

2:20 PM

Nifty IT index gains 5% in three days; TCS, Infosys up over 4% in intra-day

Shares of information technology (IT) companies are trading higher for the third straight session, with the Nifty IT index gaining 5% so far during this period on value buying. Tata Consultancy Services (TCS) and Infosys, from the index, are up 4% each at Rs 1,961 and Rs 663, respectively. NIIT Technologies, Mindtree, Tata Elxsi, Tech Mahindra and HCL Technologies are up in the range of 1% to 3% on the National Stock Exchange (NSE). Read more

2:19 PM

GLOBAL MARKETS

European shares rebounded at the open on Wednesday as the trade war fears which had pushed indexes in the red during the previous session eased on the prospect of a meeting between the US and Chinese presidents at a G20 meeting in Argentina. The pan-European STOXX 600 benchmark was up 0.4 per cent by 0814 with most major bourses trading comfortably in positive territory.

 

Source: Reuters 

2:12 PM

NEWS ALERT YES Bank hits 32-month low of Rs 165.30, lowest level since March 23, 2016 on BSE

2:05 PM

S&P BSE Sensex top gainers and losers

1:49 PM

Motilal Oswal on Blue Star

 

CMP: Rs 634 

TARGET PRICE: Rs 610  

RATING: Neutral

 

We maintain our estimates and our target price of Rs 610 with a Neutral rating. Key upside risks to our rating are (a) faster-than-expected growth in the room AC segment, (b) a sharp revival in the residential and commercial real estate segment, and (c) significant easing in competitive intensity.

1:42 PM

Buzzing Stock Arvind rebounds 33% from day's low; stock trades ex-date for demerger

Shares of Arvind moved higher by 9% to Rs 120, bouncing back 33% from its early morning low of Rs 90 on BSE on back of heavy volumes. The stock of Lalbhai Group’s flagship company has turned ex-demerger for its branded apparels and engineering businesses. READ MORE

1:31 PM

Investors should allocate about 5-10% to smart-beta funds, says expert

Popular in developed markets, Indian fund houses are now increasingly looking at smart-beta funds. These low-cost schemes replicate indices that are designed based on different investing strategies such as value, low volatility, etc. READ MORE

 

1:16 PM

Mid, small-cap indices move in range amid rise in benchmarks

The broader market was moving in a narrow range with some positive bias on Wednesday amid a sharp rise in the benchmark index. At 12:39 pm, the S&P BSE MidCap index was trading 0.06 per cent higher at 14,947, while the S&P BSE SmallCap index was up 0.07 per cent at 14,401. In comparison, the benchmark S&P BSE Sensex was up 0.81 per cent at 35,800. READ MORE

1:05 PM

NEWS ALERT YES Bank board to consider the proposal for appointment of 2 Independent Directors on December 13 and also recommend the name(s) of the new Chairman for the approval of RBI, according to TV reports

12:57 PM

Japan's rich have most cash in Asia, Chinese millionaires catching up

Japan’s rich have the largest accumulation of wealth in the Asia-Pacific region, at $7.7 trillion, but the legions of Chinese millionaires are rushing to catch up.  The pool of wealth held by China’s high-net-worth individuals grew by more than 144 percent between 2010 and 2017, to reach $6.5 trillion, according to the latest Asia-Pacific Wealth Report from consultants Capgemini. The equivalent rate of growth in Japan over the same period was about 87 percent. READ MORE

12:45 PM

Top gainers in BSE 500

COMPANY	PRICE( )	CHG( )	CHG(%)	VOLUME
FIRSTSOUR.SOLU.	51.85	4.00	8.36	776948
JET AIRWAYS	315.75	22.20	7.56	1575414
PERSISTENT SYS	606.20	41.30	7.31	25970
RELIANCE NIP.LIF	173.50	10.90	6.70	8803
INDO COUNT INDS.	61.55	3.10	5.30	35636

12:33 PM

Sebi guidelines on corporate bonds likely to keep yields elevated

 

Bond dealers anticipate a hardening of yields because of the Securities Exchange Board of India (Sebi) rules mandating a large corporate entity to borrow from the bond market. Already spreads between the bonds issued by better-rated firms and the government yields are as high as 100 basis points. The spreads will continue to remain at these levels and may not come down to their previous normal of 50-60 basis points, said to Ramkamal Samanta, vice-president, investments, Star Union Dai-Ichi Life Insurance. Read more

12:14 PM

Market check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	35,769.46	+256.32	+0.72
S&P BSE SENSEX 50	11,238.91	+71.57	+0.64
S&P BSE SENSEX Next 50	32,084.51	+1.43	0.00
S&P BSE 100	11,007.27	+59.68	+0.55
S&P BSE Bharat 22 Index	3,444.45	-7.67	-0.22

12:07 PM

Jet Airways climbs 9% on reports Naresh Goyal will sell controlling stake

 

Shares of Jet Airways surged as much as 9 per cent to Rs 319.80 apiece on BSE after a TV report said that airline's promoter Naresh Goyal has agreed to sell his controlling stake in the company."Naresh Goyal has been in talks with all three prospective investors, Tata group, Etihad and a consortium of Air France, KLM and Delta. Prospective buyers are unwilling to move ahead without taking a controlling stake in the company," CNBC-TV18 reported on Wednesday. Read more

11:57 AM

Street still cautious on IOC, HPCL and BPCL amid lower crude oil prices

 

Brent crude oil prices have corrected by about 30 per cent from their peaks in early October. This, coupled with strong fuel demand in the country, remains favourable for profitability of oil marketing companies (OMCs). Demand growth of refined products had improved to 4 per cent year-on-year in October after two successive months of muted growth. A similar trend is expected in November. However, analysts are cautious on IOC, HPCL, and BPCL on muted refining margins as well as uncertainty around government policies, which are expected to weigh on stock prices. Read more

11:33 AM

Arvind trades weak as shares turn ex-date for demerger

 

Shares of Arvind slipped 18% to Rs 90.25 on BSE in early morning trade in an otherwise firm market. The stock of Lalbhai Group’s flagship company has turned ex-demerger for its branded apparels and engineering businesses. Arvind’s branded apparel undertaking and engineering undertaking transferred into Arvind Fashions and Anveshan Heavy Engineering respectively. Read more

11:17 AM

WEB EXCLUSIVE Earnings acceleration could be pushed back beyond March 2019: Lalit Nambiar

 

Mid-and small-cap stocks bore the brunt of the recent market sell-off in September and October. LALIT NAMBIAR, executive vice-president and fund manager at UTI Mutual Fund who, besides other funds, handles the UTI Midcap Fund at the asset management company (AMC) tells Puneet Wadhwa that he remains overweight auto, fertiliser, metals and chemicals sectors. Click here to read full interview

Lalit Nambiar

 

11:00 AM

Hotel Leela zooms 73% in three days as Thailand's Minor eyes majority stake

 

Shares of Hotel Leela Venture have surged 20% to Rs 15.28 on the BSE in intra-day trade on reports that a consortium, including Thailand’s Minor International, is considering an investment of about Rs 2.5 billion ($350 million) to acquire a majority stake in Indian hospitality firm. The stock has zoomed 73% in past three trading days from Rs 8.85 on November 22, 2018. It touched a multi-year low of Rs 8.61 last Friday in intra-day trade on the BSE. Read more

10:48 AM

NEWS ALERT Jet Airways promoter Naresh Goyal agrees to sell controlling stake in company, reports CNBC-TV18

Stock impact:

10:39 AM

S&P BSE Sensex top gainesr and losers

10:25 AM

What's driving the markets today? Top contributors to Sensex

COMPANY	LATEST	CHG(RS)	CHG(%)	CONTRIBUTION (POINTS)
INFOSYS	653.30	16.30	2.56	59.73
HDFC BANK	2079.10	20.15	0.98	41.70
H D F C	1919.00	17.35	0.91	28.38
TCS	1915.70	27.35	1.45	27.71
RELIANCE INDS.	1135.50	8.00	0.71	26.40