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RIL, TCS drag Sensex 152 points lower, Nifty closes below 12,100

  • Indian equity markets had opened flat tracking global markets but ended lower
  • Sensex and Nifty fell 0.4% each to 41,170.12 and 12,080.85 respectively

Market Closing

A day after gaining over 1%, benchmark equityindices ended lower on Thursday. Sensex closed 152 points or 0.4% lower at 41,170.12. Nifty fell 45 points or 0.4 % at 12,080.85.

IndusInd Bank and Tata Steel led the gains on BSE and closed 2-4% higher. ONGC and SBI edged up 1-2%.

On Nifty, 21 stocks advanced and 29 declined. On BSE, 1,243 shares advanced, 1,227 declined and 169 shares remained unchanged.

BSE Sensex
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BSE Sensex

RIL, TCS, HUL, HDFC twins drag Sensex 160 points down

BSE Sensex
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BSE Sensex

Bond yields in Eurozone slip on growth, coronavirus concerns

Eurozone bond yields edged lower on Thursday following concerns about a slowdown in the region along with a likely hit to growth in Asia due to the coronavirus outbreak, Reuters reported.

Core yields languished near two-week lows.

Tepid economic data from Germany have kept safe-haven government debt well-supported.

Vodafone Idea pays 10 billion in AGR dues to DoT: CNBC-TV18

Vodafone Idea on Monday paid 2,500 crore towards dues related to adjusted gross revenue (AGR). The original deadline to pay dues worth 50,000 crore, according to government calculations, was 23 January.

Department of Telecommunications (DoT) to issue fresh notices to telcos for non-payment of adjusted gross revenues (AGR), reports CNBC-TV18.

DHFL lenders to review expressions of interest today: CNBC-TV18

Sensex at 1300

BSE Sensex
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BSE Sensex

BSE seeks clarification from Axis Bank and Max Financial

BSE has sought clarification from Axis Bank Ltd and Max Financial with reference to news report in The Economic Times - "Max Financial jumps 11% as Axis Bank looks to buy 20% stake in Max Life ".

The reply is awaited.

SBI Cards IPO to open on 2 March

Debt-ridden DHFL posts 934 crore Q3 net profit

Debt-ridden mortgage lender Dewan Housing Finance Corporation Ltd (DHFL) on Thursday reported a standalone net profit of 934 crore in the third quarter of current financial year as against a loss of 6,705 crore in the same period of previous fiscal.

Asia equities, currencies slip; South Korea, Japan report new coronavirus cases

Most equity markets and currencies in Asia slipped in trade after South Korea and Japan reported a rise in coronavirus cases, Reuters reported.

Although China reported a large drop in new cases and announced an interest rate cut to buttress its economy, cases jumped in South Korea while Japan reported two deaths.

MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.3%, led by declines in Hong Kong's Hang Seng and South Korea's KOSPI.

Japan's Nikkei, however, rose as the safe-haven yen fell.

IRCTC up 4%

Extending gains from Wednesday, IRCTC jumped 4.4% to 1914.50 apiece on BSE.

Max Financial Services jumps over 9%

Shares of Max Financial Services traded 9.2% higher at 564.40 on the NSE on reports that Axis Bank is eyeing stake in the former's subsidiary Max Life Insurance.

Aurobindo Pharma a tad lower post 2-day rally

Having risen as much as 19% in the past two days, shares of Aurobindo Pharma were down a marginal 0.4% on NSE. The company received an Establishment Inspection Report with a Voluntary Action Initiated intimation from the US FDA, sinalling it is business as usual for the unit.

Nifty Financial Services up

Nifty Financial Services index rose 0.2% at 14,554 led by gains in Indiabulls Housing Finance. Shriram Transport Finance, ICICI Pru Life Insurance were the other top gainers, with shares up over 2%.

Indiabulls Housing Finance surges 13.36%

Indiabulls Housing Finance surged in trade today after a Bloomberg report said that a MCA probe didn't find any major irregularities in Indiabulls deal. A plea was filed in the Delhi High court alleging round-tripping of funds by the company.

IDBI Bank, UCO Bank, Central Bank seek RBI nod to exit PCA framework

The three banks have approached the RBI, seeking permission to exit the prompt corrective action (PCA) framework, according to a Financial Express report.

India Inc’s Q3 numbers miss expectations

Third-quarter (Q3) results of Indian firms are not yet signalling sunny days ahead. To be sure, earnings expectations for Q3 had already been toned down due to the economic slowdown. But many companies reported earnings lower than even such modest expectations.

Thomas Cook up 20%

Shares of Thomas Cook (India) surged 20% up at 49.30 apiece on the BSE after the company announced share buyback proposal.

Oil companies stare at inventory losses and low fuel margin

Benign crude oil prices may help India contain its current account deficit and maintain a stable exchange regime, but for the oil marketing companies-- Indian Oil Corp Ltd, Bharat Petroleum Corp Ltd, and Hindustan Petroleum Corp Ltd-- it may bring in inventory losses and reduced fuel margin.

BSE Telecom up 0.5% at 1,240.44 points

BSE Telecom
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BSE Telecom

Crisil downgrades Vodafone Idea

Crisil has downgraded Vodafone Idea's NCD ratings to BB from B+. Stock shrugs off concern, extends gains from Friday, trades 11.7% higher on BSE.

FMCG stocks trade mixed

Godrej Consumer Products, Godrej Industries, Britannia were 0.5-1% up on NSE. HUL, Nestle and fell 1% each. Nifty FMCG traded 70 points or 0.23% lower.

PSU shares gain

Nifty PSU Bank nearly 1% up. J&K Bank gains 6%. SBI, Bank of Baroda, PNB among top gainers.

BSE MidCap up 114 points

BSE MidCap
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BSE MidCap

Gail (India) Ltd down 0.5%

The state-owned energy firm owes 1.83 trillion in AGR dues to the department of telecommunications, which it thinks is legally not tenable. The company also said it has filed a plea at the SC to seek clarification on the orders passed.

Sterlite Technologies up 4%

The company has bagged orders worth 1,500 crore so far in 2020. The orders range from business development in its core areas of optical connectivity solutions and network services to emerging areas such as software virtualisation.

Dairy stocks up

Umang Dairies surges 13.2%, Prabhat Dairy up 2.3% a day after the government approved a 4,558-crore scheme to promote the dairy sector which will benefit about 95 lakh farmers.

Vodafone Idea up 11%

Vodafone Idea Ltd chairman Kumar Mangalam Birla and Bharti Airtel promoter Sunil Mittal met finance minister Nirmala Sitharaman on Wednesday.

Birla is making a last-ditch attempt to save Vodafone Idea after a 50,000-crore demand from department of telecommunications threatens to shut down his company even as Mittal told TV channels that the AGR issue wasn't discussed.

Rupee slips 26 paise to 71.80 against US dollar in opening trade

HUL to list ice cream pushcarts on Swiggy

Hindustan Unilever Ltd (HUL) will list more pushcarts, restaurants and shops that stock its popular ice cream brands, such as Magnum, Cornetto, and Kwality Wall’s on Swiggy ahead of the peak summer season.

SBI approves Suzlon’s debt revamp proposal

SBI has approved a restructuring plan proposed by Suzlon Energy Ltd.

Under the plan, Suzlon’s debt of 12,700 crore will be converted into sustainable and unsustainable debt and will be repaid over 20 years.

Telecom Stocks in focus

Top bosses of Bharti Airtel Ltd and Vodafone Idea Ltd reached out to Union finance minister Nirmala Sitharaman on Wednesday, as a massive payments crisis loomed over the two telcos that together serve more than 580 million customers in India.

Sunil Bharti Mittal and Kumar Mangalam Birla, billionaire chairmen of Bharti Airtel and Vodafone Idea, respectively, had separate meetings with the minister

Stocks to Watch

Vodafone Idea, Asian Paints, Bharti Airtel, Axis Bank, GAIL are among the top stocks that could be in focus in today's trade.

Asian stocks mixed

Stocks came under pressure after Japan reported two deaths from the coronavirus and cases in South Korea jumped, spurring concerns about the spread of the disease outside China.

Futures on the S&P 500 Index were down 0.1% as of 11:52 a.m. Tokyo time. The benchmark reached another record high Wednesday.

Singapore's SGX Nifty fell 2.03%

Japan’s Topix index rose 0.7%.

Hong Kong’s Hang Seng declined 0.8%.

Shanghai Composite was little changed.

South Korea’s Kospi index fell 0.7%.

Australia’s S&P/ASX 200 Index rose 0.5%.

Crude prices

US crude was last 30 cents firmer at $53.60 per barrel and Brent settled at $59.12. Gold last traded at $1,609.33 per ounce.

Nasdaq, S&P 500 hit all-time highs

As fears subsided about the economic damage likely to result from the new coronavirus outbreak in China U.S. stocks hit all-time highs.

Dow Jones gained 0.4% to close at 29,348.03.

Nasdaq jumped 0.9% to 9,817.18 and the broad-based S&P 500 rose 0.5% to 3,386.15 -- both record-setting finishes.

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