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Business News/ Markets / Stock Markets/  Sensex ends 139 points higher, Nifty holds 13,500-mark; ONGC, NTPC top gainers
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Sensex ends 139 points higher, Nifty holds 13,500-mark; ONGC, NTPC top gainers

Indian benchmark equity indices slipped from record highs towards the fag-end of the session, but ended about 0.3% higher led by gains in ICICI Bank, ITC and NTPC.

A weakening rupee and lacklustre global markets weighed on sentiment on Thursday. Photo: Hemant Mishra/MintPremium
A weakening rupee and lacklustre global markets weighed on sentiment on Thursday. Photo: Hemant Mishra/Mint

Welcome to the Mint live blog. Track this space for the latest stock market updates.

11 Dec 2020, 03:44:50 PM IST

Market closing

Indian benchmark equity indices slipped from record highs towards the fag-end of the session, but ended about 0.3% higher led by gains in ICICI Bank, ITC and NTPC.

Sensex closed at 46,099.01, up 139.13 or 0.30%, while Nifty ended 35.55 points or 0.26% higher at 13,513.85.

ONGC, closing over 5% higher, was the top Sensex gainer followed by NTPC, Tata Steel, Titan, ICICI Bank, ITC and Ultratech Cement. Axis Bank, M&M, TechM and Asian Paints were among the laggards.

Of 30 Sensex shares 19 closed in the green.

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11 Dec 2020, 03:08:45 PM IST

Broader indices outperform benchmarks

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11 Dec 2020, 02:51:57 PM IST

Sebi bans Profit Mount, Right Target for providing unauthorised investment advisory services

Regulator Sebi has barred Profit Mount Advisory Service and Right Target Advisory Service from the capital markets for providing unauthorised trading tips to investors.

In addition, Profit Mount's proprietor and partners of Right Target have also been restrained from the capital markets.

Besides, they are prohibited from carrying out investment advisory services till further orders.

The direction comes after Securities and Exchange Board of India (Sebi) received complaint against Profit Mount and Right Target, alleging that these are unregistered entities.

11 Dec 2020, 02:48:46 PM IST

Global stocks lower after Wall St falls on virus pressure

Global stock markets were mostly lower Friday after U.S. unemployment claims rose in a sign of worsening economic damage from the coronavirus pandemic while Congress is deadlocked over possible new aid.

On Wall Street, the future for the S&P 500 was down 0.4% and that for the Dow Jones Industrial Average was off 0.3%.

On Thursday, industrial and communications stocks led the S&P 500's decline. The Dow dropped 0.2%. The Nasdaq composite rose 0.5%.

In Asia, the Shanghai Composite Index lost 0.8% to 3,347.19 and the Nikkei 225 in Tokyo shed 0.4% to 26,652.52. The Hang Seng in Hong Kong advanced 0.4% to 26,505.87.

The Kospi in Seoul advanced 0.9% to 2,770.06 while Sydney's S&P-ASX 200 was off 0.6% at 6,642.60.

India's Sensex was down less than 0.1% at 45,927.34. New Zealand and Singapore advanced while Jakarta declined.

11 Dec 2020, 02:28:10 PM IST

Moral of UPL story: steer clear, when unclear

UPL Ltd’s whistleblower saga is making investors a bit wary about its prospects. Its stock has slipped about 10% in the last two days. In fact, it has not made much of a recovery even after the management issued a clarification with the stock, inching up just about 1.2% on Friday. (Full report)

11 Dec 2020, 02:16:31 PM IST

Sensex slips 120 points

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11 Dec 2020, 02:15:33 PM IST

BSE SmallCap up 0.34%

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11 Dec 2020, 02:11:40 PM IST

Sensex pares early gains; HDFC twins, Axis Bank top drags

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11 Dec 2020, 02:08:16 PM IST

Sanofi, GSK Covid vaccine delayed until end of 2021

France's Sanofi and Britain's GSK said Friday their Covid-19 vaccines will not be ready until the end of 2021, after interim results showed a low immune response in older adults.

The announcement is a huge setback in efforts to fight the pandemic, which first emerged in China last December and has killed over 1.5 million people worldwide. (Full report)

11 Dec 2020, 02:02:27 PM IST

SpiceJet shares gain over 6%

Shares of SpiceJet on Friday gained over 6% after the firm said it has partnered with Om Logistics and also signed a pact with Snowman Logistics, for transportation of covid-19 vaccine.

The stock rose by 6.37% to 106 on the BSE.

The airline said its dedicated freighters, operated under the SpiceXpress cargo division, are capable of transporting sensitive drugs and vaccines in controlled temperatures ranging from (-) 40 degrees celsius to ( ) 25 degrees celsius, both domestically as well as internationally.

11 Dec 2020, 01:36:44 PM IST

BSE MidCap up 0.22%

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11 Dec 2020, 01:12:29 PM IST

Alembic Pharma gets USFDA nod for bipolar disorder treatment drug

Drug firm Alembic Pharmaceuticals on Friday said it has received final approval from the US health regulator for Asenapine Sublingual tablets, indicated for treatment of bipolar disorder.

The approved product is therapeutically equivalent to the reference listed drug product Saphris Sublingual tablets of Allergan Sales, LLC.

11 Dec 2020, 01:00:52 PM IST

Top gainers on Nifty PSU Bank

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11 Dec 2020, 12:49:21 PM IST

Sensex near day's high

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11 Dec 2020, 12:33:06 PM IST

Market outlook

"The Nifty is in a rangebound phase between 13400 and 13700. This is also a profit booking resistance zone. Traders should maintain caution at these levels and book profits at regular intervals. Timely upgrading of stop losses should also happen as the markets can get volatile. We have a good support at the 13300-1350 levels," said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.

11 Dec 2020, 12:21:33 PM IST

Angel Broking on IRCTC

"On First day of OFS it got oversubscribed by 1.98x times from the non-retail category. Now the company has fixed the cutoff rate of 1377.55 after the first day of bidding. The OFS is of 15% of paid up share capital with the promoter having oversubscription option of 5%. As the OFS got oversubscribed on day 1 and so now the promoter exercised their option and now OFS will be 20% (3.2 Cr shares). We have given a Neutral rating to this OFS as there will be very limited upside left for retail investors also there is no retail discount in this OFS."

11 Dec 2020, 12:05:42 PM IST

India Ratings assigns Mahindra & Mahindra’s Additional Bank Facilities 'AAA'

M&M has maintained its leadership position in the domestic tractor market, with around 38.6% market share in terms of volumes in 1HFY21 (FY20: 41.2%). The decline in market share was mainly due to supply-related disruptions amid covid-19 led lockdown across the nation as well as extended lockdowns in Maharashtra where majority of the supplier base of M&M concentrates. The management expects the market share to recover to historical levels as the supply chain issues resolve, driven by its pan-India presence and new product launches (including XP plus series in 1HFY21).

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11 Dec 2020, 11:50:47 AM IST

Shares of most TVS Group companies rise

TVS Motor Company Chairman and MD Venu Srinivasan on Thursday said members of the TVS family have agreed to subscribe to the terms of a memorandum of family arrangement to align and synchronise the ownership of shares in various group companies.

TVS Motor Co. Ltd down 1%

Sundaram-Clayton Ltd up 9%

TVS Electronics Ltd up 12%

TVS Srichakra up 9%

11 Dec 2020, 11:39:54 AM IST

IRCTC shares fall for 4th day, govt to exercise oversubscription option in OFS

Shares of IRCTC declined over 1% on Friday, extending losses for the fourth session. The stock came under pressure after the government announced an offer for sale of its 20% stake in the company. The floor price of 1,367 was at a 15% discount to the closing price of Wednesday.

Also, the government has announced that it will exercise the oversubscription option to the extent of 80,00,000 equity shares in addition to the base offer size.

11 Dec 2020, 11:36:19 AM IST

Wholesale dispatches of PVs and motorcycles continues to grow in November

Domestic wholesale of passenger vehicles and two-wheelers increased for the fourth consecutive month in November, after production and sales came to a halt in April due to the lockdown measures. Vehicle manufacturers increased inventory at dealerships expecting retail sales to stay strong beyond Diwali and Dhanteras festivals. (Full report)

11 Dec 2020, 11:28:53 AM IST

Centum Electronics drops 1.62%

The board of directors of Centum Electronics Ltd have approved the proposal for further investment in Centum Adetel Group (CAG) SA. With the proposed investment, the company’s stake in CAG will increase to 64.66% from 59.77%.

11 Dec 2020, 11:23:14 AM IST

United Spirits down 0.17%

United Spirits Ltd (USL), a part of global liquor giant Diageo, on Thursday appointed Hina Nagarajan as the company's new CEO with effect from July 1, 2021. Incumbent Anand Kripalu will step down on June 30.

11 Dec 2020, 11:11:00 AM IST

IOC up 3.4%

Indian Oil Corporation Ltd (IOC), the country’s largest fuel retailer, on Thursday said that’s its refineries are operating at 100% capacity. “The crude oil throughput of IndianOil refineries rose to 100% in November 2020, as consumption of all petroleum products has almost reached pre-Covid. In October 2020 this figure was 88%, and last year for the same period it was 99%," the country’s largest refiner said in a statement. (Full report)

11 Dec 2020, 10:53:57 AM IST

JST Investments on TVS Group restructuring

"The $8.5-billion TVS Group has showcased another round of exemplary corporate governance by the move to Align the ownership of group companies with the management of the respective companies. Adding to that, No royalty payments need to be made from companies to TVS family members/ Holding companies. This could lead to massive rerating in the holding companies of the group which currently trade at a huge discount to their underlying values. The progress of the 'Memorandum of family settlement' looks to be a key monitorable. The listed companies of the TVS group include TVS Motors, Sundaram Clayton, Sundaram finance, Sundaram Fasteners, TVS Srichara, Wheels India, Sundaram Finance Holdings, TVS Electronics, India Nippon Electricals & Sundaram Brake Linings." said Anish Moonka From JST Investments

11 Dec 2020, 10:42:29 AM IST

lrcon International up 6%

The company has been awarded the work of upgradation of Gurgaon-Pataudi-Rewari section of NH-352W (design length of 46. 110 km) as feeder route in the state of Haryana on Hybrid Annuity Mode valuing 900 crore on competitive bidding basis by National Highways Authority of India.

11 Dec 2020, 10:28:00 AM IST

ICICI Securities recommends DCB Bank with an upside of 21%

A better-than-expected revival in the economy will propel credit growth across the board and especially in small business. Government initiative to support MSME segment by extending ECLGS scheme is helpful for players like DCB who have good exposure towards such segments. ICICI Securities has upgraded the banking stock from Hold to Buy rating with a target price of 135. (Full report)

11 Dec 2020, 10:15:06 AM IST

Muthoot Finance falls 0.5%

The non-banking lender on Thursday said it will raise up to 1,000 crore through public issue of bonds to fund its business growth. In its 24th series of public issue of secured redeemable non-convertible debentures, Muthoot Finance will issue bonds of face value of 1,000 each with a base size of 100 crore with an option to retain over-subscription up to 900 crore aggregating up to tranche limit of 1,000 crore, it said in a release.

11 Dec 2020, 10:03:51 AM IST

TCS up 0.3%

Tata Consultancy Services (TCS) on Thursday said it plans to invest more than USD 100 million in Austin and hire 1,000 new employees across Texas. TCS has expanded its business operations in Austin, Texas with the construction of a new facility, doubling its presence to more than 400 professionals in the city and adding to its over 5,500 employees across the state, TCS said in a statement.

11 Dec 2020, 09:52:46 AM IST

HDFC, ICICI Bank, RIL lift Sensex by over 200 points

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11 Dec 2020, 09:42:27 AM IST

All sectoral indices on NSE in the green

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11 Dec 2020, 09:31:04 AM IST

Kotak Mahindra Bank up 0.5%

The Reserve Bank of India has restricted Kotak Mahindra Bank from paying dividend on perpetual non-cumulative preference shares (PNCPS) in accordance with its December 4 circular asking banks and certain category of Non-Banking Finance Companies (NBFCs) to not to make any dividend payment on equity shares from the profits pertaining to the financial year ended March 31, 2020.

11 Dec 2020, 09:18:58 AM IST

Market opening

Indian benchmark share indices opened higher on Friday amid mixed cues from Asian markets.

Sensex opened at 46,060.32, up 100.44 points or 0.22%, while Nifty advanced 34.00 points or 0.25% at 13,512.30.

ONGC, opening over 4% higher, was the top Sensex gainer followed by Tata Steel, NTPC, Ultratech Cement, ITC and M&M. Infosys, TechM, Kotak Bank, Axis Bank and Asian Paints were among the laggards. Of 30 Sensex shares, 25 opened in the green.

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11 Dec 2020, 09:07:18 AM IST

Market pre-opening

Indian stocks traded higher in the pre-opening session on Friday. At 9:04am, Sensex was at 46,051.03, up 91.15 points or 0.20%, while Nifty advanced 48.6o points or 0.36% at 13,526.90.

11 Dec 2020, 09:01:18 AM IST

Market at close on Thursday

The BSE Sensex snapped its five-session winning run to close 144 points lower on Thursday as investors pocketed gains in bank and IT counters after the recent rally.

A weakening rupee and lacklustre global markets further weighed on sentiment, traders said.

The 30-share BSE Sensex opened lower and stayed in the negative territory throughout the session to end at 45,959.88, down 143.62 points or 0.31%.

The broader NSE Nifty ended its seven-day record-setting spree to close 50.80 points or 0.38% lower at 13,478.30.

11 Dec 2020, 08:59:07 AM IST

Asian markets wary over stimulus, pandemic concerns

Asian markets were mixed Friday as stalled US stimulus talks and rising virus infections continued to counter vaccine optimism, while the pound struggled after Boris Johnson warned Britain could crash out of the European Union without a trade deal.

Japan's Nikkei declined 0.54%.

Hong Kong's Hang Seng advanced 0.17%, while China's Shanghai Composite lost 1%.

South Korea's Kospi was up nearly 1%.

Australia's ASX200 dropped 0.7%.

Singapore's SGX Nifty was a little changed.

11 Dec 2020, 08:59:07 AM IST

How major US stock indices fared Thursday

US stock indexes closed mostly lower Thursday following more evidence that the pandemic is tightening its grip on the economy while Congress remains in a stalemate over how to do something about it.

The S&P 500 fell 4.72 points, or 0.1%, to 3,668.10.

The Dow Jones Industrial Average dropped 69.55 points, or 0.2%, to 29,999.26.

The Nasdaq composite rose 66.85 points, or 0.5%, to 12,405.81.

The Russell 2000 index of smaller companies climbed 20.56, or 1.1%, to 1,922.70, a record high.

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