MARKET WRAP: Sensex, Nifty end little changed; Tata Steel, SBI advance 3%
All that happened in the markets today
 "markets")
markets
Despite a range-bound trade, domestic markets hit fresh lifetime highs for the third consecutive day on Friday. Investment sentiment remained in check in the absence of any key global and domestic cues.
The benchmark S&P BSE Sensex closed at 41,681.54-level, up 7.62 points or 0.018 per cent. Tata Steel, YES Bank, SBI, and Hero MotoCorp were the top gainers at the 30-share index, while Vedanta, Tata Motors, ITC, and M&M were the top drags for the day. On the NSE, the broader Nifty50 settled little changed at 12,271.8-mark, up 12.1 points or 0.09 per cent. Markets ended at record closing highs for the fourth straight session.
The benchmark Sensex and Nifty hit fresh highs of 41,809.96 and 12,293.90, respectively.
In a major corporate development, Mahindra & Mahindra (M&M) on Friday announced a rejig of its top management with Anand Mahindra, 64, transiting to the role of non-executive chairman from executive chairman, effective 1 April, 2020. In a statement, the firm said Pawan Kumar Goenka has been re-appointed the managing director with additional responsibilities of chief executive officer (CEO) for a year, effective 1 April, 2020. Shares of Mahindra and Mahindra reversed their 0.7 per cent intra-day gain, and declined 1.2 per cent in the intra-day deals today. The counter eventually settled 0.86 per cent lower at Rs 530.45. READ MORE
On the sectoral front, public sector banks gained the most on Friday fter the Reserve Bank of India (RBI) decided to buy and sell bonds worth Rs 10,000 crore via open market operations. At close, the Nifty PSU bank index was the top performer on the NSE, up over 2 per cent. On the downside, Nifty Auto index slipped 0.45 per cent.
For the week, the benchmark S&P BSE Sensex gained 1.6 per cent, while the Nifty50 added 1.5 per cent registering their biggest weekly gains in nearly two months. Besides, Nifty Bank index advanced 1 per cent this week.
For the week, the benchmark S&P BSE Sensex gained 1.6 per cent, while the Nifty50 added 1.5 per cent registering their biggest weekly gains in nearly two months. Besides, Nifty Bank index advanced 1 per cent this week.
In the broader markets, the S&P BSE mid-cap index ended 0.15 per cent higher at 14,835.97 level, while the S&P BSE small-cap index ended unchanged at 13,391.03 level, down 0.03 per cent.
GLOBAL CUES
Asian shares snoozed near 18-month highs on Friday as trade thinned in the run-up to Christmas and investors seemed content to digest the chunky gains already made so far this month.
MSCI’s broadest index of Asia-Pacific shares outside Japan were steady after rising 1.2 per cent so far this week. Japan's Nikkei reversed early gains after reaching a 14-month high earlier in the week.
European stocks made tiny move today, although Italian shares outperformed on some positive company updates. The STOXX 600 rose just 0.1 per cent, still on course to end a second week with gains and trading about 1 percent below all-time highs.
(With inputs from Reuters)
3:40 PM
Sectoral trends at NSE at close
3:40 PM
Top gainers and losers on S&P BSE Sensex at close
3:39 PM
Closing Bell
>> The benchmark S&P BSE Sensex closed at 41,681.54-level, up 7.62 points or 0.018 per cent.
>> The benchmark Sensex and Nifty hit fresh highs of 41,809.96 and 12,293.90, respectively.
3:30 PM
NEWS ALERT | Ipca Labs enters into an agreement with Medicines for Malaria Venture (MMV): BSE Filing
-- To co-develop antimalarial co-formulation named ‘Atoguanil’
3:21 PM
Crisis looms as debt wave sweeps developing nations, warns World Bank
A wave of debt in emerging and developing nations has grown faster and larger than in any period of the last five decades and could end with another crisis, the World Bank warned Thursday.
And if the wave breaks, it could be more damaging since it would engulf private companies in addition to governments, at a time when economic growth is sluggish, according to a new report that covers four debt surges from 1970-2018. "The size, speed and breadth of the latest debt wave should concern us all," World Bank President David Malpass said in a statement. READ MORE
3:00 PM
NEWS ALERT | Indian banks need $7 billion by FY21 to meet capital norms: Fitch on India
>> Positive impact of govt reforms to materialise in medium-term, rather than near-term
2:51 PM
NEWS ALERT | Expect RBI to cut rates by 65 bps in 2020: Fitch on India
2:48 PM
NEWS ALERT | FY20 GDP seen at 4.6%: Fitch on India
>> FY21 GDP growth seen at 5.6%
2:44 PM
YES Bank, Shriram Transport shrug off rating downgrades, advance up to 7%
Shares of YES Bank and Shriram Transport Finance Company rallied up to 7 per cent on the BSE on Friday despite being downgraded by rating agencies.
YES Bank climbed 10 per cent to Rs 53.50 from its early morning low of Rs 48.50 on the BSE. With today’s gain, the stock of private sector lender has bounced back 19 per cent from its Thursday’s low of Rs 45. A combined 285 million equity shares, representing 1 per cent of total equity of YES Bank, changed hands on the NSE and BSE till 02:08 pm. READ MORE
2:43 PM
NEWS ALERT | Fitch affirms India's long-term currency issuer rating at 'BBB-': CNBC TV18
>> Outlook stable
>> GDP growth outlook still solid relative to peers
>> Rating affirmation incorporates moderate fiscal slippage in FY20
>> Risk of more India fiscal expansion if growth remains weak
>> GDP growth outlook still solid relative to peers
>> Rating affirmation incorporates moderate fiscal slippage in FY20
>> Risk of more India fiscal expansion if growth remains weak
Topics : MARKET WRAP Markets
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Dec 20 2019 | 7:17 AM IST