Closing bell: Sensex, Nifty gain for 7th session; Midcap stocks shine
7 min read.Updated: 19 Dec 2018, 03:52 PM ISTNirav Vyas
The BSE Sensex closed 137.25 points, or 0.38%, up at 36,484.33 and the Nifty 50 ended 58.60 points, or 0.54%, higher at 10,967.30. Here are the highlights from the markets
Mumbai: Indian benchmark indices BSE Sensex and NSE’s Nifty 50 advanced for a seventh session on Wednesday, buoyed by falling oil prices and RBI’s additional OMO purchase announcement. The rupee and bond prices also extended gains after crude oil prices slumped to a near 15-month low. Continued buying from FIIS also supported the markets. In November, FII bought a combined of $1.76 billion and so far December they bought $677 million in equity and debt.The BSE Sensex closed 137.25 points, or 0.38%, up at 36,484.33 and the Nifty 50 ended 58.60 points, or 0.54%, higher at 10,967.30.Outperforming the benchmark Sensex, the BSE midcap and smallcap indices rose 1.5% and 1.09%, respectively. All the sectoral indices on BSE, except IT and teck, posted gains, with realty rising most at 3.11%. Telecom, power, consumer discretionary goods, utilities, basic materials, auto and FMCG rose between 1.04% and 1.9%. IT and teck fell upto 1.06%. The Nifty PSU Bank index rose nearly 3%.Axis Bank, SBI, Indiabulls Housing Finance, Asian Paints, Maruti Suzuki and Bharti Airtel were among the major gainers on the key indices, whereas Sun Pharma, IndusInd Bank, Infosys, Kotak Bank and TCS were among the top losers.In global markets, European stocks edged up, while Asian stocks were mixed as investors await Federal Reserve policy decision amid the recent turmoil in global markets. Stocks in Japan, China and Australia underperformed, while equities in Hong Kong fluctuated. Oil prices slumped over 5% on Tuesday in heavy trade due to fears of oversupply and deteriorating demand. Here are the latest updates from the markets:
19 Dec 2018, 03:35:00 PM IST
Closing bell: Sensex, Nifty close higher
The BSE Sensex closed 137.25 points, or 0.38%, up at 36,484.33 and the Nifty 50 ended 58.60 points, or 0.54%, higher at 10,967.30.
19 Dec 2018, 03:34:00 PM IST
Nifty sectoral indices
19 Dec 2018, 03:25:00 PM IST
Moody’s downgrades RCom unit GCX
Moody’s Investors Service lowered corporate family rating and senior secured bond ratings of GCX Limited to Caa1 from B3, with the ratings outlook negative. GCX is a wholly-owned subsidiary of Reliance Communications Ltd. RCom shares traded 9.82% lower at Rs 14.23 per share.
19 Dec 2018, 03:12:00 PM IST
PNB Housing Finance shares up 3% on stake sale buzz
PNB Housing Finance said that it is not aware of any negotiations regarding Carlyle Group planning to buy an additional stake in the company as reported by the Financial Express. The company noted that it has already disclosed to the stock exchange that Carlyle “as a public shareholder considered purchase of additional stake in PNBHFL or participate in a potential sale process as a buyer as appropriate in its sole discretion.” PNB Housing Finance shares traded 3.83% up at Rs 985.60 per share.
19 Dec 2018, 02:56:00 PM IST
Nifty PSU Bank Index rises 3%
19 Dec 2018, 02:45:00 PM IST
KEC International shares rose 4% on new orders
KEC International Ltd shares jumped as much as 4.65% to Rs 316.20 per share after the company said it has secured new orders worth Rs 1,491 crore across its businesses.
19 Dec 2018, 02:31:00 PM IST
Gold, silver prices fall today
Gold prices fell by Rs 210 on Wednesday owing to tepid demand from local jewellers even as the precious metal firmed up overseas. Silver also declined by Rs 435 due to reduced offtake by consuming industrial units. In Delhi, gold of 99.9% and 99.5% purities declined by Rs 210 each to Rs 31,850 and Rs 31,700 per 10 gram, respectively. The precious metal had gained Rs 60 Tuesday. Silver ready traded lower by Rs 435 to Rs 37,880 per kg, while weekly-based delivery was down by Rs 448 to Rs 37,433 per kg.
19 Dec 2018, 02:06:00 PM IST
Maruti Suzuki shares rise over 2%
Maruti Suzuki India Ltd said on Wednesday it would struggle to meet its target of double-digit sales growth for the year. Maruti Suzuki’s sales in November fell 0.7%, while exports plunged over 19% in the month. Achieving the double-digit sales growth target for the year “looks to be difficult,” RS Kalsi, senior executive director, marketing & sales, told reporters at the company’s year-end media meeting in New Delhi. Shares traded 2.01% up at Rs 7914 per share.
19 Dec 2018, 01:17:00 PM IST
Karnataka Bank shares rise on tie up with Paisabazaar.com
Karnataka Bank shares rose 1.95% to Rs 111.95 per share after the bank announced its strategic partnership with Paisabazaar.com.
19 Dec 2018, 12:40:00 AM IST
Markets Update: Sensex, Nifty trade higher
The BSE Sensex traded 116.42 points, or 0.32%, up at 36,463.50, and the Nifty 50 rose 49.20 points, or 0.45%, to 10,957.90. The BSE midcap and smallcap indices outperformed the benchmark index and rose over 1%. All the sectoral indices on BSE, except IT and teck, advanced, with realty rising most at over 2.5%.Basic materials, telecom and consumer discretionary goods rose over 1%. IT and teck fell more than 1%.
19 Dec 2018, 11:36:00 AM IST
Midhani shares up 6% on Rs 600 crore order
Mishra Dhatu Nigam shares rose as much as 5.96% to Rs 128 per share after the company said it has finalized an order worth about Rs 600 crore.
19 Dec 2018, 11:16:00 AM IST
Welspun Enterprises shares rise on divestment
Shares of Welspun Enterprises traded 1.33% up at Rs 118.65 per share, and rose as much as 4.1% to Rs 21.70 per share after the company said it has divested a stake in Dewas Bhopal Road Corridor Private Limited for Rs 57.7 crore.
19 Dec 2018, 10:45:00 AM IST
ICICI Prudential AMC sees Indian stocks held hostage to Fed cycle
For all the domestic drivers of India's stocks—from oil to elections to shadow banking shakeouts—the U.S. Federal Reserve holds the most swayhttps://t.co/yu0pwq1QR0
Glenmark Pharma forays into dermatology segment in US
Glenmark Pharmaceuticals said it has forayed into the branded dermatology segment in the US acquired the rights to seven branded dermatology products from Exeltis USA Inc. Glenmark Pharma shares traded 0.485 down at Rs 683.50 per share after rising as much as Rs 693.10 in early trade.
19 Dec 2018, 09:50:00 AM IST
J Kumar Infra shares jump 10% on new order
Shares of J Kumar Infraprojects Ltd rose as much as 10.47% to Rs 151.85 after its joint venture received EPC orders worth Rs 1,349 crore from National Highways Authority of India for Delhi.
19 Dec 2018, 09:32:00 AM IST
RCom shares slump 13% as DoT rejects trade airwaves deal
Shares of Reliance Communications Ltd fell as much as 12.7% to Rs 13.77 per share after ET reported that the telecom department told RCom and Reliance Jio Infocomm on Tuesday that it can’t approve their deal to trade airwaves as it does not conform to its guidelines, dealing a big blow to the Anil Ambani-owned telco’s efforts to repay creditors and avoid insolvency proceedings.
19 Dec 2018, 09:22:00 AM IST
HPCL, BPCL, IOC shares up around 2%
Shares of oil marketing companies were trading higher after crude oil prices plunged over 7% to hit a 16-month low. HPCL shares rose 2%, BPCL shares gained 1.7% and Indian Oil Corp shares advanced 1.7%.
19 Dec 2018, 09:16:00 AM IST
Rupee, bond prices rise as oil prices fall
The rupee and bond prices extended gains after crude oil prices slumped to near 16-month low, and after another open market operation announced by the Reserve Bank of India. The rupee opened at 70.08 and soon went below 70 a dollar, extending gains for a third consecutive session. At 9.15am, the currency was trading at Rs 69.94, up 0.81% from its previous close of 70.45. The government 10-year bond yield dropped 11 basis points to 7.238% -- a level last seen on 9 April from its Tuesday’s close of 7.347%.
19 Dec 2018, 09:05:00 AM IST
Commodity corner: Oil prices fall over 7%, gold rates rise
Oil prices tumbled more than 5% on Tuesday in heavy trade due to fears of oversupply and deteriorating demand, extending a selloff that has taken major crude benchmarks down more than 30 percent from an October peak. US crude oil fell $3.64, or 7.3%, to settle at $46.24 a barrel, the weakest since August, 2017. In post-close trade, the contract was down 8 percent to $45.91 a barrel. Global benchmark Brent lost $3.35, or 5.62 percent, to settle at $56.26 a barrel. During the session, Brent hit a 14-month low of $56.16.Gold scaled a more than five-month peak before erasing all the gains to trade steady as investors awaited the conclusion of a two-day policy meeting of the US Federal Reserve for clues on the pace of monetary tightening next year. Spot gold was steady at $1,249.63 per ounce, as of 0116 GMT, having touched a peak since July 11 at $1,250.92 earlier in the session. US gold futures were steady at $1,253.1 per ounce.Metals: Shanghai copper hit a three-month low overnight and led base metals sharply lower on Wednesday, as investors concerned about global economic growth waited to see whether the U.S. Federal Reserve would raise interest rates for a fourth time this year. Higher interest rates tend to push commodity prices lower, because they mean higher borrowing costs, which can reduce economic activity and consumption. The most-traded February copper contract in Shanghai fell by 1.6% to $6,994.08 a tonne. Three-month LME copper rose 0.5% to $6,002 a tonne. Reuters
19 Dec 2018, 08:50:00 AM IST
Asian stocks mixed before Fed decision
Asia’s major stock markets were mixed, with investors bracing for Wednesday’s Federal Reserve policy decision against the backdrop of recent turmoil in global markets that’s put equities on course for the worst year since 2008. The yield on benchmark Japanese bonds slipped to within striking distance of zero%. Stocks in Japan, China and Australia sank, while equities in Hong Kong were little changed. Futures on the S&P 500 Index nudged higher after a volatile session for U.S. equities that saw stocks end flat.The MSCI Asia Pacific Index rose 0.1% as of 11:52 a.m. Tokyo time. Japan’s Topix index fell 0.4%. The Shanghai Composite Index slipped 0.4%. South Korea’s Kospi rose 0.6%. Australia’s S&P/ASX 200 Index fell 0.5%. Hong Kong’s Hang Seng Index was little changed. S&P 500 futures rose 0.4%. The S&P 500 Index was little changed at the close of trading in New York. Bloomberg