Closing bell: Sensex rises 130 points, Nifty settles at 10802 led by bank stocks
8 min read.Updated: 08 Jan 2019, 04:08 PM ISTLivemint
The BSE Sensex closed 130.77 points, or 0.36%, up at 35,980.93, and the Nifty 50 ended 30.35 points, or 0.28%, higher at 10,802.15. Here are the latest updates from the markets
Mumbai: Indian shares closed higher for a third session on Tuesday led by banking stocks such as ICICI Bank, SBI and Axis Bank. The Sensex and the Nifty 50 were volatile for the most of the day following mixed sentiment in global markets, and as investors turned cautious ahead of December-quarter corporate earnings. IT majors TCS and Infosys will report Q3 earnings later this week. The BSE Sensex closed 130.77 points, or 0.36%, up at 35,980.93, and the Nifty 50 ended 30.35 points, or 0.28%, higher at 10,802.15.The BSE midcap was down 0.16%, while the smallcap rose 0.17%. Among the sectoral indices, telecom and bankex gained most at 1.3%. Healthcare, metal, finance and basic materials also posted gains. On the other hand, capital goods, power, utilities, realty and oil and gas fell.Sun Pharma, ICICI Bank, SBI, Yes Bank, Tata Motors, Axis Bank and Bajaj Auto were among the top gainers on the key indices, whereas Kotak Bank, NTPC, HDFC, HDFC Bank, BPCL and HPCL were among the major losers.In other major moves, shares of Bandhan Bank and Gruh Finance Ltd fell 4.8% and 16.4%, respectively, after the two companies announced a merger on Monday.“The focus of investors would shift to Q3FY19 earnings season and domestic Marco data (IIP, CPI & WPI), which are likely to dictate the trend of the market in the coming sessions. Further, market participants would closely monitor the progress of trade talks between US-China, behaviour of crude oil prices and fluctuation in currency as it would further induce volatility in the markets,” said Jayant Manglik, President, Religare Broking Ltd.In global markets, European shares advanced after a mixed session in Asia as investors awaited updates on the US-China trade negotiations. US equity futures pointed to gains at the open. Oil prices were stable, supported by hopes of easing US-China trade tensions, while OPEC-led supply cuts also tightened markets. Here are the latest updates from the markets:
08 Jan 2019, 03:36:00 PM IST
Closing bell: Sensex, Nifty gain for 3rd day, off day’s highs
The BSE Sensex closed 130.77 points, or 0.36%, up at 35,980.93, and the Nifty 50 ended 30.35 points, or 0.28%, higher at 10,802.15.
08 Jan 2019, 03:18:00 PM IST
Bharat Dynamics shares jump 9% on Rs 760 crore contract
Bharat Dynamics Ltd said it has received a contract worth about Rs 760 crore with the Indian Army for production and supply of anti-tank guided missiles (ATGM) and launchers. Bharat Dynamics shares surged as much as 9.59% to Rs 304.90 per share.
08 Jan 2019, 02:25:00 AM IST
Market Update: Sensex, Nifty set for 3rd day of gains
The BSE Sensex gained 156.59 points, or 0.49%, to 36,006.75, and the Nifty 50 rose 41.60 points, or 0.39%, to 10,813.40. The BSE midcap index was down 0.10%, while the smallcap edged up 0.17%. Among the sectoral indices on BSE, telecom and bankex rose over 1% followed by healthcare, auto and metal. Capital goods, power, utilities, consumer durables and oil and gas declined.
08 Jan 2019, 01:50:00 PM IST
European stocks, US futures advance
European stocks climbed with U.S. equity futures Tuesday as investors awaited developments on trade talks between the world’s largest economies. Asian shares were mixed as a rebounding dollar put pressure on emerging economies. Tech firms and banks were among the biggest gainers as the Stoxx Europe 600 Index shrugged off unexpectedly weak German industrial production numbers to edge higher. The euro held losses after the data.Futures on the S&P 500 Index gained 0.3 percent as of 8:05 a.m. London time, the highest in more than three weeks. The Stoxx Europe 600 Index increased 0.3 percent to the highest in more than three weeks. The MSCI All-Country World Index decreased less than 0.05 percent. The MSCI Emerging Market Index fell 0.6 percent. Bloomberg
08 Jan 2019, 01:31:00 PM IST
Jindal Steel shares rise over 2% on order update
Jindal Steel and Power Ltd has shipped over 55% of the order bagged from Indian Railways to supply about one lakh tonne rails, said Naushad Ansari, Joint MD, JSPL said. Shares traded 2.5% up at Rs 155.85 per share.
08 Jan 2019, 01:14:00 PM IST
Tata Elxsi shares rise 1% after results
Tata Elxsi shares rose nearly 1% to Rs 988.80 per share after the company said its December-quarter net profit rose to Rs 65.99 crore versus a profit Rs 62.77 crore a year ago. Revenue from operations stood at Rs 407 crore in the quarter ended December 31, versus Rs 346 crore a year ago (Reuters)
08 Jan 2019, 12:50:00 PM IST
Capital goods: Investor focus shifts to project execution as capex cycle wanes
JSW Steel said its crude steel production rose 3% in the third quarter of fiscal year 2018-19 to 4.23 million tons from 4.11 mts in the same period last year. For the nine-month period this year, the production was up 5% to 12.52 mts. Shares traded 0.4% up at Rs 290.70 per share.
08 Jan 2019, 11:20:00 AM IST
Monsanto India shares surge 13% on SC order
The Supreme Court held that Monsanto’s patent claim on genetically modified (GM) Bt. cotton was valid. The court set aside a 2 May order of the division bench of the Delhi high court which had held that plant varieties and seeds cannot be patented under Indian law by companies like Monsanto Inc., and that royalties on GM technology would be decided by a specialized agency of the agriculture ministry.As a result, the patent held by Monsanto, through its Indian arm Mahyco-Monsanto Biotech Ltd (MMBL) over its Bollgard-II Bt cotton seed technology, a GM variant which resists the bollworm pest, was decreed to be unenforceable in India. Monsanto India shares traded 4.5% up at Rs 2,698.80 per share. Intraday, the stock jumped 13% to Rs 2,917.65 per share.
08 Jan 2019, 11:05:00 AM IST
Endurance Technologies shares gain on Italy acquisition
Endurance Technologies shares traded 0.3% up at Rs 1,215 per share, after rising over 1% to a high of Rs 1,225 earlier. The company said it has acquired Fonpresmetal Gap SpA, an aluminum die casting company in Italy.
08 Jan 2019, 10:06:00 AM IST
Oil prices rise on trade talk optimism, OPEC cuts
Oil prices rose on Tuesday on hopes that U.S.-Chinese talks in Beijing would bring a halt to trade disputes between the world’s biggest economies, while OPEC-led supply cuts tightened markets. International Brent crude futures were at $57.77 per barrel at 0113 GMT, up 44 cents, or 0.8 percent from their last close. U.S. West Texas Intermediate (WTI) crude oil futures were at $48.85 per barrel, up 33 cents, or 0.7 percent. Reuters
08 Jan 2019, 09:35:00 AM IST
Jet Airways shares down over 1%
Jet Airways shares fell as much as 1.5% to Rs 242.50. Domestic and foreign lenders of Jet Airways (India) Ltd have asked the company to explain its liquidity situation, just a few days after the airline defaulted on a scheduled loan repayment, Mint reported. The lenders will now meet the airline executives, along with various vendors, and help Jet Airways renegotiate contracts and revive its poor cash flow position in the coming days.
08 Jan 2019, 09:25:00 AM IST
Bandhan Bank shares fall 6%, Gruh Finance dives 10%
Bandhan Bank shares fell as much as 6.03% to Rs 470.85 per share, Gruh Finance shares slumped as much as 9.8% to Rs 276 per share, and HDFC shares traded 0.5% lower at Rs 1,960.90 per share. Bandhan Bank has agreed to combine with Gruh Finance in a deal valued Rs 81,800 crore, according to calculations based on closing share prices on Monday, Reuters reported. Investors in Gruh Finance, controlled by HDFC, will get 568 shares of Bandhan Bank for every 1,000 they own, according to exchange filings from the companies. Read more
Investors are seeing this as a desperate attempt by Bandhan Bank to reduce its promoters' stake and meet RBI's shareholding normshttps://t.co/F5sMmJT8pR
The Indian rupee was trading lower against the US dollar after crude oil prices surged in eight out of nine trading sessions. At 9.10am, the rupee was trading at 70 a dollar, down 0.46% from previous close of 69.68. The home currency opened at 69.84 a dollar and touched a low of 70.01 a dollar. So far this year, the rupee has declined 1.3%, while foreign investors have sold $203.80 million in equities and bought $43.50 million in the debt markets.
08 Jan 2019, 09:06:00 AM IST
What’s in store for the rupee in the new year?
The rupee performed the worst among Asian currencies in eight years and was down 8.46% in 2018. Between 2011 and 2018, the rupee depreciated 36% and has been weakening every year, except in 2017. Analysts say fundamentals will aid the rupee this year. Read more
08 Jan 2019, 08:53:00 AM IST
Commodity corner: Oil, gold prices steady; Copper prices down
Oil prices were stable, supported by hopes that talks under way in Beijing involving U.S. and Chinese officials could end trade disputes between the world’s biggest economies, while OPEC-led supply cuts also tightened markets. International Brent crude futures were at $57.43 per barrel, up 10 cents, or 0.1% from their last close. US WTI crude oil futures were at $48.62 per barrel, up 10 cents, or 0.2%.Gold held steady as bets on a pause in U.S. interest rate hikes and hopes of a Sino-U.S. trade deal put pressure on the dollar, but an improved risk appetite capped gains for the safe-haven metal. Spot gold was little changed at $1,287.70. It hit a more-than 6-month peak at $1,298.42. US gold futures eased slightly at $1,288 per ounce.Metals: London copper prices drifted lower in early Asian trade as the dollar strengthened, while investors awaited the outcome of the latest round of US-China trade talks in Beijing. Three-month LME copper slipped 0.2% to $5,909.50 a tonne, after edging up 0.1% in the previous session. All other LME metals declined, with zinc down 0.8% after a 2.5% jump on Monday. Shanghai zinc was up 0.5%. Reuters
08 Jan 2019, 08:45:00 AM IST
Asia stocks mixed with focus on US-China trade talks
Asian stocks traded mixed as investors waited to see whether the outcome of fresh talks on trade will be productive. The yen advanced and Treasuries consolidated. Stocks advanced in Japan and Australia, though slipped in Hong Kong and Shanghai. The Trump administration expressed optimism it can reach a “reasonable” trade deal with China as President Xi Jinping dispatched one of his top aides to negotiations in Beijing. U.S. futures ticked higher. The dollar was steady against major G-10 peers and 10-year Treasury yields edged lower.Japan’s Topix index added 0.4 percent as of 10:40 a.m. in Tokyo. Australia’s S&P/ASX 200 Index rose 0.5 percent. South Korea’s Kospi index was little changed. Hong Kong’s Hang Seng Index fell 0.5 percent. Shanghai Composite Index lost 0.4 percent. S&P 500 futures rose 0.2 percent. The S&P 500 rose 0.7 percent. The MSCI Asia Pacific Index was little changed. Bloomberg