Markets snap 4 days of losses; Sensex ends 429 points higher, Nifty at 12,1305 min read . Updated: 19 Feb 2020, 03:45 PM IST
- Sensex ends at 41,323 points and Nifty above 12,100
- 21 of 30 Sensex shares in green. BSE MidCap ends 206 points higher
Indian benchmark indices snapped a 4-day losing streak to end higher today. The Sensex ended 428 points or 1% higher at 41,323. Nifty reclaimed 12,000 mark today and settled up 138 points or 1.2% at 12,130.30.
Among Sensex stocks, Bajaj Finance, HUL, ONGC, Nestle, RIL, NTPC and HDFC gained over 2 %.
On Nifty, 38 stocks advanced and 12 declined. On BSE, 1,525 shares advanced, 1,002 declined and 180 shares remained unchanged.
Nestle India, Kotak Mahindra Bank and Bajaj Finance hit 52-week high on BSE
Hero MotoCorp to stop production of BS-IV Motorcycles today: CNBC-TV18
Vodafone Idea vulnerability highest: Credit Suisse
There is likely to be further litigation due to AGR payment in the Indian telecom sector but Airtel will overcome the storm whereas Vodafone Idea vulnerability is highest in the given industry dynamics, analyst firm Credit Suisse said.
Vodafone Idea up 32%, BSE seeks clarification
BSE has sought clarification from Vodafone Idea Ltd with reference to significant movement in price, in order to ensure that investors have latest relevant information about the company and to inform the market so that the interest of the investors is safeguarded.
The reply is awaited.
HUL nears ₹5 trillion market cap
The stock has touched an all time high of ₹2307.20 on BSE, up 3.3% from its previous close with market capitalisation of ₹4.96 trillion. So far this year the script has gained nearly 18%.
Motilal Oswal bullish on cement sector
Brokerage firm Mostilal Oswal expects margins of cement companies to be strong in Q4 FY20 as price hikes have resumed in calendar 2020, after trending lower in 2HCY19, and costs declined.
According to channel checks, prices have continued increasing in CY20, led by hikes in southern India in February. Across India, cement prices are up about 4% quarter-on-quarter and 6% on year so far this quarter.
Berger Paints announces interim dividend
Berger Paints has declared an interim dividend of ₹1.90 per equity share (190%) for the financial year 2019-20 which would be paid on 16 March.
India Ratings downgrades textile sector outlook
India Ratings and Research (Ind-Ra) has revised the textile sector’s outlook to Negative for FY21 from Stable, as the weak domestic demand growth, threat of cheap imports, and dwindling incentives and exports are likely to keep volumes muted.
BSE MidCap at 1200
Tata Motors down 3.2%
The stock tumbled 8% in the last two trading sessions as coronavirus led to a virtual shutdown of the Chinese economy. 23% of JLR’s luxury car sales (December quarter) accrued from Chinese markets.
JLR has extended the shutdown at its manufacturing unit in China amid concerns over the coronavirus outbreak.
Yes Bank down 1.4%
The private sector lender will be dropped from Nifty 50 from 27 March.
IRCTC jumps nearly 7%
Shares of IRCTC Ltd jumped 6.7% a day ahead of the commercial operation of Kashi Mahakal Express. The train will run between Varanasi and Indore.
SpiceJet jumps 4%
The airline will launch 20 domestic flights from March 29. The new flights will connect Guwahati and Patna, Hyderabad and Mangaluru, Bengaluru and Jabalpur, Mumbai and Aurangabad.
Some of these flights will be launched under the goverment's UDAN initiative.
IDFC First Bank up 1.7%
Ratings agency CRISIL has assigned CRISIL AA with a stable outlook to the private lender’s Basel III - Tier 2 Bonds worth Rs. 2000 crore and has re-affirmed existing ratings CRISIL A1+ for the bank's certificate of deposits programme.
Jet Airways up 5%
Grounded Jet Airways Ltd’s committee of creditorshas extended the deadline for submission of bids to March 10 as a new entity has shown interest in the airline.
BSE Telecom up 1%; Vodafone Idea surges 9%
Coronavirus could make petchem imports costlier
If Coronavirus continues to impact trade in China, the chemical and petrochemical sector may have to look to alternate geographies to import raw material and intermediaries which could increase the cost of import as well as production for them.
Aurobindo Pharma jumps 16%
Shares of Aurobindo Pharma jumped nearly 16% to ₹579.75 apiece on BSE after it received the establishment inspection report with voluntary action initiated status from the USFDA.
The Reserve bank of India has granted final approval for the Kotak Mahindra Bank's proposal to dilute promoters' shareholding.
"Further to our intimation dated 30 January 2020, please note that the Reserve Bank of India has granted its final approval vide its letter dated 18 February 2020 in the matter relating to dilution of promoters' shareholding in the Bank," Kotak said in a BSE filing.
Shree Cement Ltd rose as much as 6% to ₹25222.90 a piece on BSE. The country's second largest cement maker by market capitalisation will replace private sector lender Yes Bank in Nifty50 with effect from March 27.
Sensex, Nifty rebound
Indian equity indices rebounded today after falling over the past four sessions. Higher Asian markets lifted the sentiment. The Sensex was up over 300 points while Nifty topped 12,000 mark.
Infosys, Vodafone, Jet Airways, Shree Cement and IDFC First Bank are among the top stocks that could be in focus in today's trade.
Telecom stocks will be in focus as the Union Cabinet today is likely to discuss adjusted gross revenue issue, which has dealt a severe blow to telecom companies.
Crude prices up
U.S. crude rose 0.21% to $52.16 a barrel, while Brent crude rose 0.12% to $57.87 per barrel.
Indian stock markets are likely to be volatile on Wednesday, while Asian shares and US stock futures edged cautiously higher in early deals today
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.01%. Australian shares were up 0.14%, while Japan's Nikkei stock index rose 0.61%.
Singapore's SGX Nifty was 2.5% up and Hong Kong’s Hang Seng Index rose 0.44%.
U.S. stock indexes closed mostly lower Tuesday
The S&P 500 index fell 9.87 points, or 0.3%, to 3,370.29. The benchmark index remains just below its all-time high set on Friday.
The Dow Jones Industrial Average slid 165.89 points, or 0.6%, to 29,232.19.