MARKET WRAP: Banks lead recovery; Sensex ends 113 pts up, Nifty at 10,912
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The benchmark indices ended marginally higher on Monday after a volatile session led by gains in RIL, HDFC, HDFC Bank, TCS and ONGC.
The S&P BSE Sensex ended at 36,583, up 113 points, or 0.31 per cent, while the broader Nifty50 index settled at 10,912, up 19 points or 0.17 per cent.
Among sectoral indices, Nifty Bank index ended 0.37 per cent higher led by RBL Bank and Federal Bank. Nifty IT index settled 0.19 per cent higher led by gains in TCS and Tech Mahindra.
BUZZING STOCKS
The S&P BSE Sensex ended at 36,583, up 113 points, or 0.31 per cent, while the broader Nifty50 index settled at 10,912, up 19 points or 0.17 per cent.
Among sectoral indices, Nifty Bank index ended 0.37 per cent higher led by RBL Bank and Federal Bank. Nifty IT index settled 0.19 per cent higher led by gains in TCS and Tech Mahindra.
In the broader market, S&P BSE MidCap index ended 140 points or 0.96 per cent lower at 14,501, while S&P BSE SmallCap index settled at 13,786, down 164 points or 1.18 per cent.
BUZZING STOCKS
Shares of Dewan Housing Finance Corporation (DHFL) settled at Rs 115 apiece, up 3.46 per cent on the National Stock Exchange (NSE) after the management in the conference call said that the company is seeking a strategic partner to bring fresh equity.
Shares of Titan Company ended 3.32 per cent higher to Rs 1,024 apiece. It hit a new high on the BSE in intra-day trade after the company reported strong growth of 41.6 per cent in net profit of Rs 416 crore in December quarter (Q3FY19). The company had a profit of Rs 308 crore in the year-ago quarter. The stock surpassed its previous high of Rs 1,006 recorded on April 18, 2018.
GLOBAL MARKETS
Asia stocks hovered near four-month highs on Monday after a mixed performance on Wall Street at the close of last week, while the dollar firmed against the yen following strong US employment and manufacturing data.
MSCI's broadest index of Asia-Pacific shares outside Japan was a shade weaker. It had scaled a four-month peak on Friday amid a surge by its global peers. Australian shares ended half a per cent higher, as did Japan's Nikkei.
MSCI's broadest index of Asia-Pacific shares outside Japan was a shade weaker. It had scaled a four-month peak on Friday amid a surge by its global peers. Australian shares ended half a per cent higher, as did Japan's Nikkei.
(with Reuters input)
3:39 PM
Sectoral gainers and losers of the day on NSE
3:35 PM
Gainers and losers of the day on S&P BSE Sensex
3:33 PM
Market at close
The S&P BSE Sensex ended at 36,583, up 113 points or 0.31 per cent, while the broader Nifty50 index settled at 10,909, up 15 points or 0.14 per cent.
3:24 PM
Tejas Networks, Shankara Building, RCom, RPower, Punj Lloyd hit new lows
Shares of Tejas Networks, Shankara Building Products, Tata Teleservices (Maharashtra), Jaiprakash Associates, Punj Lloyd, Religare Enterprises and Prabhat Dairy among 29 stocks that hit new lows on BSE in the intra-day trade on Monday. Anil Ambani Group (ADAG) five companies – Reliance Communications (down 48 per cent at Rs 6), Reliance Power (down 32 per cent at Rs 17.80), Reliance Naval and Engineering (down 15 per cent at Rs 10.07), Reliance Home Finance (down 15 per cent at Rs 29.50) and Reliance Nippon Life Asset Management (down 5 per cent at Rs 129) – hit all-time lows in the intra-day deal today. READ MORE
3:22 PM
ALERT
Reliance Industries nears record high of Rs 1329, touched on August 29, 2018. stock up 4% at Rs 1,297 on BSE
3:15 PM
FDI declines 11% to $22.66 billion during April-Sept; may impact rupee
Foreign direct investment (FDI) into India has declined 11 per cent to $ 22.66 billion during April-September period of the current fiscal, according to commerce and industry ministry data.
The foreign fund inflows during April-September 2017-18 stood at $ 25.35 billion. READ MORE
2:57 PM
FY20 fiscal deficit to overshoot target, slip to 3.6%: Fitch Solutions
Fitch Solutions, the research arm of Fitch Group, Monday projected the government's fiscal deficit to overshoot the budgeted target by 0.2 per cent to 3.6 per cent of GDP in 2019-20 fiscal. It said that 2019-20 Budget appears to show a strong populist bent in the run up to the General election due by May 2019. READ MORE
2:52 PM
» More on Top Gainers
Top gainers on BSE500
| COMPANY | PRICE(rupees) | CHG(rupees) | CHG(%) | VOLUME |
| BLISS GVS PHARMA | 159.60 | 15.15 | 10.49 | 361176 |
| FUTURE CONSUMER | 46.20 | 2.65 | 6.08 | 493302 |
| FUTURE RETAIL | 448.35 | 21.70 | 5.09 | 23367 |
| AARTI INDS. | 1710.20 | 81.60 | 5.01 | 8222 |
| ENDURANCE TECH. | 1182.65 | 51.65 | 4.57 | 1046 |
2:41 PM
ICICI Securities on Oriental Carbon
We value OCCL at Rs 1,300 i.e. 16x P/E on FY20E EPS of Rs 81.2/share and assign a HOLD rating to the stock. We draw comfort from healthy cash flow generation at OCCL with present CFO yield at ~8%. We also build in successful closure of buyback amounting to ~Rs 35 crore in FY19E.
2:34 PM
Cairn India-Volcan Investment transaction met govt standards, says Vedanta
Clarifying the Cairn India-Volcan Investment transaction, Anil Agarwal-led Vedanta on Monday said the structure provides significantly higher returns compared to other overseas cash management investments that would typically return around two per cent.
Last week, Vedanta announced that Cairn India Holdings Limited, would invest $0.5 billion in Volcano Investment Limited, the parent company of Vedanta Limited, as part of the structured investment representing the economic interest in the upside potential of 24.71 million shares or 1.8 per cent outstanding shares of Anglo American PLC. READ MORE
2:23 PM
STOCK IMPACT
2:18 PM
NEWS ALERT
IDBI Bank reported Q3 net loss at Rs 4,185 cr vs loss of Rs 1,524 cr YoY
2:12 PM
Market check
1:59 PM
This speciality chemicals stock zoomed 1700% in 5-years; hits new high
Shares of Aarti Industries hit a new high of Rs 1,714 apiece, gaining 5 per cent on the BSE in an otherwise weak market after the company posted strong growth of 47 per cent in net profit at Rs 132 crore in December quarter (Q3FY19). The company, one of the most competitive benzene‐based speciality chemical companies in the world, had a profit of Rs 90 crore in the year-ago quarter. READ MORE
1:45 PM
WEB EXCLUSIVE Disinvestment target achievable; PSU stocks to remain subdued, say analysts
The government has set itself an ambitious disinvestment target of Rs 90,000 crore for the financial year 2019 – 20 (FY20), which, analysts believe, can be achieved but is likely to keep the gains in PSU stocks capped going ahead. The government has already short-listed 10 central public sector enterprises (CPSEs), including RailTel, TCIL and Tehri Hydro Development Corporation (THDCL) for disinvestment in FY20. Thus far in FY19, Rs 36,000 crore has already been raised through stake sale in CPSEs, as well as tranches of Exchange Traded Funds (ETFs) and share buybacks and faces an uphill task of garnering another Rs 44,000 crore if the target of Rs 80,000 crore has to be met by March-end. READ MORE
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First Published: Feb 04 2019 | 8:05 AM IST