Sensex, Nifty end at record high on first day of 2021; PSU banks shine10 min read . Updated: 01 Jan 2021, 03:44 PM IST
- Indian benchmark share indices settled at record highs on the first trading session of 2021 led by gains in PSU Banks.
Welcome to the Mint live blog. Track this space for latest stock market updates.
Indian benchmark share indices settled at record highs on the first trading session of 2021 led by gains in PSU Banks. Sensex closed at 47,868.98 up 117.65 +0.25%, while Nifty ended 36.75 points or 0.26% higher at 14,868.50.
ITC, up over 2.37%, was the top Sensex gainer followed by TCS, M&M, SBI and Bharti Airtel. ICICI Bank, HDFC Bank, Titan and Bajaj Finance were among the laggards. Of 30 Sensex shares, 21 closed in the green.
The New York stock exchange has begun the process of delisting three Chinese telecoms companies as it seeks to comply with an order by the Trump administration barring investment in firms with ties to the Chinese military.
It comes as relations between the world's two biggest economies spiral downwards over sore points ranging from trade and the coronavirus to Hong Kong and Xinjiang.
Trading in China Mobile Communications, China Telecommunications Corp and China Unicom (Hong Kong) Limited will end within the next week, subject to transactions being settled, the exchange said in a statement Friday.
The Reserve Bank of India (RBI) will conduct simultaneous purchase and sale of government securities under open market operations (OMOs) for ₹10,000 crore each on January 7.
The decision was taken after a review of current liquidity and financial conditions, the RBI said in a statement. (Full report)
2020, a highly volatile year which first saw markets crashing by 40% in March led by the fear of pandemic and later, witnessed stock markets soaring to reach their new all time highs. As many as 200 stocks ended the year at close to their all time highs. 17 stocks with a market cap of over ₹1 lakh crore hit their all time high in the year gone by. Largest stocks in terms of market capitalisation which ended at their all time highs include names such as, TCS, HDFC Bank, Infosys, HDFC, Kotak Mahindra Bank, ICICI Bank, Bajaj Finance, Asian Paints, HCL Technologies and Wipro. (Full report)
Contracting for the ninth consecutive month, the output of eight core infrastructure sectors dropped by 2.6% in November, mainly due to decline in production of natural gas, refinery products, steel and cement.
The production of eight core sectors had recorded a growth of 0.7% in November 2019, data released by the commerce and industry ministry showed on Thursday.
Barring coal, fertiliser and electricity, all sectors -- crude oil, natural gas, refinery products, steel and cement -- recorded negative growth in November 2020.
During April-November, the sectors' output dropped by 11.4% as compared to a growth of 0.3% in the same period of the previous year.
Infrastructure firm NCC on Friday said it has received 15 new orders worth ₹8,980 crore in December from government agencies.
"NCC has received fifteen new orders totaling to ₹8,980 crore (exclusive of GST) in the month of December, 2020," the company said in a BSE filing.
These orders are received from Central/State Government agencies and do not include any internal orders, the company added.
Construction engineering company Gayatri Projects on Friday said it has been declared the lowest bidder for a road project worth ₹1,323.52 crore.
The company has been declared as L-1 bidder for development of six-lane access controlled highway in Uttar Pradesh portion of Delhi Saharanpur Highway from Delhi/UP Border to EPE Junction in Uttar Pradesh on under Economic Corridor in phase l of Bharatmala Pariyojana, Gayatri Projects said in a regulatory filing.
The company said value of the work is ₹1,323.52 crore.
Industrial biotechnology company Praj Industries on Friday said it has bagged a ₹226.90 crore order from Indian Oil Corporation Ltd (IOCL).
In a regulatory filing the company said the ₹226.90 crore order from Indian Oil Corporation is for "execution of zero liquid discharge system - water treatment package and waste water treatment package of Acrylic/Oxo-Alcohol Project at IOCL Dumad, Gujarat".
Shares of Praj Industries were trading 5.07 per cent higher at ₹121.30 apiece on BSE.
Farm equipment manufacturer Escorts Agri Machinery on Friday reported an 88 per cent jump in tractor sales at 7,733 units in December 2020.
The company had sold 4,114 units in December 2019.
Domestic tractor sales during last month stood at 7,230 units as against 3,806 units in December 2019, up 90 per cent, Escorts said in a BSE filing.
Total vehicle sales stood at 35,187 units versus 39,230 units year ago.
Total exports stood at 2,210 units versus 2,149 units year ago.
Tractor sales stood at 22,417 units versus 17,991 units year ago.
Domestic passenger vehicles 16182.
Reliance Infra on Friday announced completion of sale of its Delhi-Agra (DA) toll road to Cube Highways and Infrastructure for ₹3,600 crore.
In a regulatory filing, Reliance Infrastructure Ltd said it has completed the sale of its 100 per cent stake in DA Toll Road to Cube Highways and Infrastructure III Pte Ltd for an enterprise value over ₹3,600 crore.
The deal was announced in March 2019 with the signing of a definitive binding agreement between Reliance Infra and Cube Highways and Infrastructure III Pte Ltd.
Reliance Infra said the entire sale proceeds are being utilised for debt reduction.
Reliance Infra has reduced its total debt liabilities by 20 per cent from the deal proceeds from ₹17,500 crore to ₹14,000 crore.
Automobile major Maruti Suzuki India(MSI) today reported an increase of 20% in its overall sales during December 2020 on a year-on-year basis.
Maruti Suzuki India Limited posted total sales of 160,226 units in December 2020.
The ninth tranche of sovereign gold bonds of this fiscal, which opened for subscription on Monday, closes today. The issue price for Sovereign Gold Bond Scheme 2020-21-Series IX has been fixed at ₹5,000 per gram of gold. A discount of ₹50 per gram will be available for investors applying online and makingthe payment against the application is made through digital mode. For such investors, the issue price of the gold bond will be ₹4,950 per gram of gold. (Full report)
The rupee depreciated by 4 paise to 73.11 against the US dollar in opening trade of the first session of the New Year as market participants remained on the sidelines due to lack of fresh cues.
At the interbank forex market, the domestic unit was trading in a narrow range on Friday. It opened at 73.09 against the US dollar and fell to 73.11 against the greenback, registering a fall of 4 paise over its previous close.
On Thursday, the rupee spurted 24 paise to end at a nearly four-month high of 73.07 against the US dollar on the last day of 2020.
The company has divested its 100% ownership with control in its Wholly Owned subsidiary Cardpay Technologies Private Limited to its subsidiary Instant Global Paytech Private.
State-owned Canara Bank has raised ₹1,635 crore through bonds, to fund business growth. The capital was raised by issuing additional tier-1 bonds at 8.50% coupon on December 31, the bank said in a statement.
Jubilant Foodworks Ltd (JFL), which operates fastfood chains Domino's Pizza and Dunkin' Donuts in India, on Thursday said it will invest ₹92 crore into Barbeque-Nation Hospitality Ltd (BNHL) for a 10.76% equity stake.
"The company has entered into a share subscription agreement to acquire equity shares and a restated shareholders' agreement to regulate the rights and obligations of BNHL's key shareholders," Jubilant Foodworks said in a regulatory filing.
63 Moons Technologies, formerly Financial Technologies, on Thursday said it has moved the National Company Law Tribunal (NCLT) seeking to ensure that recovery from DHFL benefit all creditors, including NCD-holders. The company holds over ₹200 crore of NCD (non-convertible debentures) of the crippled mortgage player.
Shares of Antony Waste Handling Cell Limited made a strong stock markets debut on the first trading day of 2021. The stock was listed at ₹436.10, a 38.44% premium over its issue of ₹315. The ₹300-crore issue of municipal solid waste management company with a price band of ₹313-315 was subscribed 15 times. The issue was open for subscription between 21-23 December.
LIC-controlled IDBI Bank has sold 23% stake in life insurance venture to foreign partner Ageas for ₹507 crore. With this transaction, the stake of the Belgian partner in IDBI Federal Life Insurance Co Ltd (IFLI) has risen to 49%, the upper foreign direct investment limit prescribed by the law.
US auto major Ford Motor Co on Friday said it and India's Mahindra & Mahindra have decided to scrap their previously announced automotive joint venture and it will continue its independent operations in India as it is.
The two companies determined that they will not complete a previously announced automotive joint venture between their respective companies.
The decision follows the passing of the December 31, 2020 'longstop' or expiration date of a definitive agreement the organisations entered into in October 2019, Ford Motor Company said in a statement.
Indian benchmark share indices opened higher on the first trading session of 2021. Sensex opened at 47,785.28, up 33.95 points or 0.07%, while Nifty opened 14.35 points or 0.10% higher at 13,996.10.
M&M, opening over 1% higher, was the top Sensex gainer followed by ONGC, TechM and NTPC. Power Grid, HDFC, Asian Paints and Titan were among the laggards. Of 30 Sensex shares, 24 opened in the green.
Indian stocks traded higher in the pre-opening session on the first day of 2021. At 9:05am, Sensex was at 47,844.67, up 93.34 points or 0.20%, while Nifty advanced 12.05 points or 0.09% at 13,993.80.
Equity benchmarks Sensex and Nifty closed almost flat on the last trading day of 2020 on Thursday, capping off a tumultuous year with handsome gains of around 15%.
In choppy trade, the 30-share BSE Sensex inched up by 5.11 points 0.01% to its new closing record of 47,751.33.
After opening on a firm footing, the index hit its all-time high of 47,896.97 during the day.
The broader NSE Nifty crossed the 14,000 level for the first time, touching a record intra-day peak of 14,024.85. The 50-issue index pared gains to close at 13,981.75, down by just 0.20 points.
The indices, however, finished the year 2020 with overall gains of around 15%. The Sensex gained 15.7% while the Nifty jumped 14.9% in the year.
US stocks were flat in thin trading on Thursday, but the S&P 500 and the Nasdaq were set to end 2020 with solid gains on hopes of more stimulus and coronavirus vaccines to support the domestic economy.
Six of the major S&P 500 sub-sectors edged lower in early trading, with energy, industrials and materials falling after recent gains.
The Nasdaq was set to record a 43% jump in what could be its best yearly performance since 2009, benefiting from a surge in tech mega-caps such as Alphabet Inc, Microsoft Corp, Apple Inc, Facebook Inc and Netflix Inc.