MARKET WRAP: Sensex up 321 pts, Nifty ends near record high; metals gain

Topics MARKET WRAP | Markets

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Global gains, improved December auto sales figures, and expansion in manufacturing activity last month pushed Indian equities higher on Thursday. Reliance Industries, L&T, HDFC twins, and IndusInd Bank were the major contributors towards today's gains. 

The S&P BSE Sensex ended 320.62 points, or 0.78 per cent, higher at 41,626.64 level, with UltraTech cement, Tata Steel, IndusInd Bank and L&T being the top gainers on the index. On the downside, TCS, Bajaj Auto, Infosys, and Nestle ended the day as top laggards.

On the NSE, the broader Nifty50 settled at record closing high of 12,283, surpassing its previous closing high of 12,271.80 (touched on December 20, 2019). At close, the Nifty index was up 100.45 points, or 0.82 per cent.

Besides, all major sectoral indices, barring Nifty IT index, ended the day in the positive territory. Nifty Metal and PSU bank indices were up over 2 per cent at close, while IT index declined 0.06 per cent. Nifty Bank index advanced over a per cent to end at record closing high of 32,438.25.

Meanwhile, broader markets settled with over a per cent gain each. The S&P BSE Mid-cap and Small-cap indices closed 1.18 and 1.44 per cent higher at 15,185.88 and 13,984.76 levels, respectively.

GLOBAL CUES

Asian shares kicked off 2020 on a strong note on Thursday, spurred by Chinese markets after Beijing eased monetary policy to support the slowing economy.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.43%, Hong Kong’s Hang Seng added 1.05%.

European equities were set to follow Asia higher in their first trading session of the new decade. Pan-region Euro Stoxx 50 futures rose 0.62% and FTSE futures were up 0.31%, though German DAX futures fell 0.18%.

(With inputs from Reuters)

4:03 PM IST NIFTY started 2020 on a positive note by rising 100 points today led by key pivotals like RIL & L&T. What was also encouraging was the buoyancy witnessed in the broader market with several midcaps and smallcaps participating in the rally

3:44 PM IST

3:43 PM IST

3:42 PM IST >> The S&P BSE Sensex ended 320.62 points, or 0.78 per cent, higher at 41,626.64 level, with UltraTech cement, Tata Steel, IndusInd Bank and L&T being the top gainers on the index.  >> On the NSE, the broader Nifty50 settled at record closing high of 12,283, surpassing its previous closing high of 12,271.80 (touched on December 20, 2019). At close, the Nifty index was up 100.45 points, or 0.82 per cent.

3:18 PM IST -- Nifty nears all-time high of 12,294 touched on December 20, 2019

3:08 PM IST

2:59 PM IST COMPANY PRICE(rs) 52 WK HIGH CHG(rs) CHG(%) AAVAS FINANCIERS 1993.45 2007.90 31.15 1.59 ADANI GAS 181.75 185.60 4.80 2.71 ADANI GREEN 183.50 183.50 8.70 4.98 ADITYA BIR. FAS. 245.20 249.70 11.40 4.88 AMBER ENTERP. 1170.00 1177.80 18.95 1.65 » More on 52 Week High

2:45 PM IST >> Asian shares kicked off 2020 on a strong note on Thursday, spurred by Chinese markets after Beijing eased monetary policy to support the slowing economy. >> MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.43%, Hong Kong’s Hang Seng added 1.05%. >> European equities were set to follow Asia higher in their first trading session of the new decade. Pan-region Euro Stoxx 50 futures rose 0.62% and FTSE futures were up 0.31%, though German DAX futures fell 0.18%. (Via Reuters)

2:37 PM IST COMPANY LATEST PREV CLOSE GAIN(rs) GAIN(%) VOLUME ZUARI GLOBAL 58.50 48.75 9.75 20.00 14470 SHARDA CROPCHEM 280.95 234.15 46.80 19.99 10881 SHEMAROO ENTERT. 172.25 143.55 28.70 19.99 14389 ACTION CONST.EQ. 86.55 72.15 14.40 19.96 96424 ZUARI AGRO CHEM. 110.30 91.95 18.35 19.96 72457 PRAKASH INDS. 61.05 50.90 10.15 19.94 481390 HIND.COPPER 48.45 40.40 8.05 19.93 1721695 SUZLON ENERGY 2.29 1.91 0.38 19.90 6731779

2:32 PM IST A sharp recovery in mid-and-smallcap stocks has seen the stock price of 24 stocks more-than-double from their respective one-year lows since August. The share price of Jet Airways (India), Apex Frozen, Avanti Feeds, Dixon Technologies, Shipping Corporation of India, Essel Propack, BF Utilities, Godawari Power & Ispat, JBM Auto, Indiabulls Real Estate, and RPG Lifesciences appreciated in the range of 104 per cent to 153 per cent in this period. READ MORE

2:25 PM IST Finance Minister Nirmala Sitharaman on Tuesday launched a National Infrastructure Pipeline (NIP), unveiling projects worth Rs 102 trillion, wherein a major chunk is being alloted to power, renewable energy, atomic energy and petroleum and natural gas sectors. Reacting to the announcement, power stocks jumped in Wednesday's trading session. READ MORE

LIVE UPDATES

Market Closing Comment :: Ranganathan, Head of Research at LKP Securities

NIFTY started 2020 on a positive note by rising 100 points today led by key pivotals like RIL & L&T. What was also encouraging was the buoyancy witnessed in the broader market with several midcaps and smallcaps participating in the rally

Nifty snapshot at close


Top gainers and losers on S&P BSE Sensex at close


Closing Bell

>> The S&P BSE Sensex ended 320.62 points, or 0.78 per cent, higher at 41,626.64 level, with UltraTech cement, Tata Steel, IndusInd Bank and L&T being the top gainers on the index. 

>> On the NSE, the broader Nifty50 settled at record closing high of 12,283, surpassing its previous closing high of 12,271.80 (touched on December 20, 2019). At close, the Nifty index was up 100.45 points, or 0.82 per cent.

MARKET ALERT | HDFC, Bajaj Finance, Bajaj Finserv from Nifty 50 stocks hit record highs

-- Nifty nears all-time high of 12,294 touched on December 20, 2019

TVS Motor December total sales down 14.7% at 2.31 lakh units vs 2.71 lakh units (YoY)


BSE500 stocks that hit 52-week high today

COMPANY PRICE(rs) 52 WK HIGH CHG(rs) CHG(%)
AAVAS FINANCIERS 1993.45 2007.90 31.15 1.59
ADANI GAS 181.75 185.60 4.80 2.71
ADANI GREEN 183.50 183.50 8.70 4.98
ADITYA BIR. FAS. 245.20 249.70 11.40 4.88
AMBER ENTERP. 1170.00 1177.80 18.95 1.65
» More on 52 Week High

Global Markets Check

>> Asian shares kicked off 2020 on a strong note on Thursday, spurred by Chinese markets after Beijing eased monetary policy to support the slowing economy.

>> MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.43%, Hong Kong’s Hang Seng added 1.05%.

>> European equities were set to follow Asia higher in their first trading session of the new decade. Pan-region Euro Stoxx 50 futures rose 0.62% and FTSE futures were up 0.31%, though German DAX futures fell 0.18%.

(Via Reuters)


MARKET ALERT | Eight stocks from BSE Smallcap index locked in 20% upper circuit

COMPANY LATEST PREV CLOSE GAIN(rs) GAIN(%) VOLUME
ZUARI GLOBAL 58.50 48.75 9.75 20.00 14470
SHARDA CROPCHEM 280.95 234.15 46.80 19.99 10881
SHEMAROO ENTERT. 172.25 143.55 28.70 19.99 14389
ACTION CONST.EQ. 86.55 72.15 14.40 19.96 96424
ZUARI AGRO CHEM. 110.30 91.95 18.35 19.96 72457
PRAKASH INDS. 61.05 50.90 10.15 19.94 481390
HIND.COPPER 48.45 40.40 8.05 19.93 1721695
SUZLON ENERGY 2.29 1.91 0.38 19.90 6731779

Apex Frozen, Avanti Feeds, Jet Airways gain over 100% from 52-week lows

A sharp recovery in mid-and-smallcap stocks has seen the stock price of 24 stocks more-than-double from their respective one-year lows since August. The share price of Jet Airways (India), Apex Frozen, Avanti Feeds, Dixon Technologies, Shipping Corporation of India, Essel Propack, BF Utilities, Godawari Power & Ispat, JBM Auto, Indiabulls Real Estate, and RPG Lifesciences appreciated in the range of 104 per cent to 153 per cent in this period. READ MORE

Power Grid, NTPC rally post govt's infra push; will BHEL and NHPC follow?

Finance Minister Nirmala Sitharaman on Tuesday launched a National Infrastructure Pipeline (NIP), unveiling projects worth Rs 102 trillion, wherein a major chunk is being alloted to power, renewable energy, atomic energy and petroleum and natural gas sectors. Reacting to the announcement, power stocks jumped in Wednesday's trading session. READ MORE

Bharat Bond ETF lists at Rs 1,000 on NSE


Govt likely to miss disinvestment target, expects Rs 67,000-crore gap

The government may miss its disinvestment target of Rs 1.05 trillion for 2019-2020 by a wide margin, as its plans to sell Bharat Petroleum Corporation (BPCL), Container Corporation of India (Concorp) and Air India are unlikely to conclude by March-end. "Government has to respond to what the potential bidders ask for. So, sometimes they ask for time to examine the financial statements. Sometimes, they want to do a physical due diligence," said a ministry official who didn't want to be named. READ MORE


NEWS ALERT | Longjian-KEC Int JV wins order for subway construction worth Rs 1,080 cr: Reuters


Rupee check


Buzzing | Sterlite Tech rallies 7% on bagging order worth Rs 1,800 cr

>> Says, awarded the mandate to create a high speed rural broadband network from Telangana Fiber Grid Corporation Ltd. (T-Fiber)

>> STL was awarded a work order for about Rs.1100 crore for Phase- 1 of the project. The total project value is worth about Rs.1800 crore for which STL has received the letter of intent.
 

NEWS ALERT | Oct to Dec sugar output down 30.4% YoY: ISMA

>> Sugar output for Q3FY20 at 7.8 mt vs 11.2 mt YoY

>> UP sugar output comes in at 3.32 mt Vs 3.11 mt (YoY)

Alert: ISMA is Indian Sugar Mills Association

Despite stock's rise, Page Industries' near-term outlook not comforting

Recent reaffirmation of good credit rating (AA/A1+) by ICRA, and expectations of higher growth of high-margin winter wear in December quarter has turned investor sentiment positive towards Page. READ HERE

Shriram Transport to raise upto Rs 1,000 cr via public issue of NCDs

Shriram Transport Finance Company is proposing a public issue of upto Rs 1,000 crore by issuing Secured Redeemable Non-Convertible Debentures (NCDs) of the face value of Rs 1,000 each. The company is coming out with its Tranche 2 Issue of NCDs having a base size of Rs. 200 crore with an option to retain oversubscription aggregating up to Rs. 1,000 crore which is within the Shelf Limit, its press release said. 
 

Emkay Global on the impact on Media sector post Trai's latest order

We believe that the reduction in channel pricing cap will impact broadcasters only if a large proportion of subscribers shift to a-la-carte model and subscribe to fewer channels. Large broadcasters (Zee, Star and Sun TV, etc.) that have driver channels (featuring in top 3) across the genres will have limited impact or risk of revenue loss due to the shift to a-la-carte. However, the impact could be in the form of lost advertisement and subscriber revenues due to the non-subscription of non-driver channels. Capping of NCF and increasing number of channels will not impact DPOs as average realization for most DPOs is lower than the NCF prescribed by the TRAI.  
 
STOCK RECOS 
  • Zee Entertainment: HOLD 
 
CMP: Rs 288 
 
Target Price: Rs 389
 
  • Sun TV Network: HOLD
 
CMP: Rs 439
 
Target Price: Rs 497

NEWS ALERT | Indiabulls Hsg Fin buys back bonds with face value worth Rs 1,400 cr: sources to CNBC TV18

>> 11 mutual funds believed to have participated in the buyback


Broader markets outperform benchmarks


BUZZING STOCK:: PNB Housing zooms 10%


Tata Motors gains 3%, hits over 7-month high post December sales data

Shares of Tata Motors climbed 3 per cent to hit an over seven-month high level of Rs 190 on the BSE on Thursday after the company reported a 12 per cent decline in total vehicle sales in domestic market to 44,254 units in December. The stock was trading at its highest level since May 10, 2019. Tata Motors had sold 50,440 units in the same month in 2018, Tata Motors said in a statement. READ MORE

Nifty sectoral indices at this hour


MARKET UPDATE: Sensex at day's high


NEWS ALERT | Nirav Modi's assets mortgaged with PNB to be given back to the bank: sources to CNBC TV18

>> Assets worth Rs 1,200-1,500 cr to be returned

>> Assets include shares and properties in South Mumbai

>> Mehul Choksi's assets could be returned too, if he is declared Fugitive Economic Offender

Alert: ED has attached all encumbered & unencumbered assets belonging to Nirav Modi

         Nirav Modi has been declared a fugitive eco offender by PMLA court
File photo of Nirav Modi

NEWS ALERT | Ice cream makers to hike prices by 8-15%: sources to CNBC TV18

>> Prices to be hiked owing to inflation, higher Skimmed Milk Product prices

>> Vadilal Industries to hike prices by 8-10%

Apollo Hospitals up 5% as IRDA approves stake sale in Apollo Munich to HDFC

Shares of Apollo Hospitals Enterprise jumped 5.2 per cent to Rs 1,501.5 per share on the BSE on Thursday after the company said Insurance Regulatory and Development Authority of India (IRDAl) has approved HDFC's bid to acquire 51.2 per cent stake in Apollo Munich Health Insurance Company (AMHI). Competition Commission of India (CCI), and Reserve Bank of India (RBI) have already approved the deal. READ MORE

Cement stocks in focus: UltraTech, ACC up over 3% on likely demand pick-up

Shares of cement manufacturers were in demand, gaining up to 8 per cent on the BSE on Thursday, on expectations that the government's recent push towards infrastructure creation will lead to price hike on the back of increased demand. UltraTech Cement, Ambuja Cements, ACC, Orient Cement, Star Cement, India Cements, JK Lakshmi Cement, Prism Johnson, Heidelberg Cement India, Ramco Cements, Shree Cement, and Dalmia Bharat from the S&P BSE 500 index were up more than 3 per cent each. READ MORE

MARKET UPDATE:: Sensex extends gains


NEWS ALERT | Eicher Motors' Royal Enfield December sales at 50,416 units, down 16.5% (MoM)


NEWS ALERT | Ashok Leyland's December total sales up 9.8% (MoM) at 11,168 units


Tata Sons moves SC against NCLAT order reinstating Cyrus Mistry: TV reports

Mistry had contested his removal as chairman in 2016, accusing the group of not following due process and alleged inappropriate interference in the company’s affairs by family patriarch and the conglomerate’s former chairman, Ratan Tata. READ MORE
 

Broadcasters, channels decline after Trai caps MRP on individual channels

Among individual stocks, Sun TV Network slipped over 6 per cent, while Balaji Telefilms and Sahara One Media dipped over 4 per cent each, and Zee Entertainment and Den Networks both slid over 3 per cent in early morning trade today. The Nifty Media index dipped over 1.4 per cent as compared to the benchmark Nifty50 index's gain of 0.3 per cent. READ MORE

NEWS ALERT | VA Tech Wabag clarifies on volume trading

>> Says, order worth Rs 1,187 cr being reported in media was bagged in July, 2019

>> Had intimated the exchanges regarding the same 

Click here to read the statement


NEWS ALERT | Manufacturing PMI expands to 52.7 in Dec vs 51.2 in Nov: CNBC TV18

Steel stocks gain as JSPL registers highest-ever quarterly sales in Q3FY20

“The company has recorded the highest ever quarterly domestic production of crude steel and related products with a 22 per cent year on year (Y-o-Y) growth in the third quarter ended December 2019, as a result of the strong and consistence performance across all locations, especially in the Angul operations. The total crude steel and related production stood at 1.61 million tonnes, compared to 1.32 million tonnes in the corresponding period last year,” JSPL said in a press release. READ MORE

Tata Motors up over 1% post Dec sales nos


Bajaj Fin, Bharti Airtel, ICICI Bank: How these Sensex stocks fared in 2019

BAJFINANCE: The level of Rs 2,988, which was the high in 2018, became the most crucial level in 2019. The moment this level was crossed, it did witness minor sell off; however, thereafter this level was never seen. READ MORE    


Momentum picks by ICICI Securities


Metal stocks trading higher in today's deals


BUZZING STOCK:: Indiabulls Real Estate zooms 10%


Dec Auto Sales | Bajaj Auto :: Domestic Commercial Vehicles sales up 26% YoY

>> Posts highest ever quarterly sales; Q3FY19 sales at 562,772 units.
 

NEWS ALERT | NMDC hikes prices by 7.5-8% on Lumps and Fines: sources to CNBC TV18


Apollo Hospitals rises 2% on receiving nod from CCI, RBI and IRDAI for stake sale in Apollo Munich


Muthoot Capital Services gains 1.6% post raising Rs 145.37 crore through securitisation.


Prakash Industries jumps 8% on securing allocation of long-term Coal Linkages of 1.69 lakh MTPA

>> In the recent auction of Coal Linkages conducted by Coal India, it has secured allocation of long-term Coal Linkages of 1.69 lakh MT per annum for the next 5 years for its5 th Sponge Iron Kiln.


Lemon Tree Hotels trades higher

>> The company on Wednesday said it has signed a license agreement for a 40-room upcoming hotel in Dehradun under the brand Keys Prima.

Coal India dips over half a per cent

>> Coal India, which registered negative growth in production of the dry fuel for past few months, has posted over 7 per cent growth in December with 58 million tonne output, sources said on Wednesday.


VA Tech Wabag up 1.5% on bagging projects worth Rs 1,187 cr in Bihar under Clean Ganga Scheme.


JSW Steel adds nearly 2%


Zee Entertainment slides over 2%

>> The Telecom Regulatory Authority of India (Trai) has released amendments to the New Tariff Order (NTO), in which it has directed cable operators to provide 200 channels for Rs 153. It has also reviewed the pricing of channel bouquets compared to a la carte ones.


Sectoral trends at NSE during Opening trade


Top gainers and losers on S&P BSE Sensex during Opening trade


Market at Open


Market at Open


NEWS ALERT | AMHI, HDFC Ergo and HDFC receive nod from CCI, RBI & IRDAl for sale of 10% stake in Apollo Munich: Apollo Hospitals

Alert: AMHI is  Apollo Munich Health Insurance Company Limited

         HDFC Ergo is HDFC ERGO General Insurance Company Limited 

         IRDAI is Insurance Regulatory and Development Authority of India

(via BSE filing)

Top gainers and losers on S&P BSE Sensex during Pre-open


Market at Pre-open


Market at Pre-open


Rupee opening

Rupee opens lower at 71.25 vs Wednesday's close of 71.22 against the US dollar

Stocks to watch: Coal India, SAIL, Muthoot Capital, Asian Granito, autos

Here's a look at the top stocks that may remain in focus today -
 
Auto stocks: Automobile sales continued to slip in December despite a faint uptick seen in the two preceding months, worrying the industry that a recovery in the Indian car market is not yet in sight.
 
Coal India, which registered negative growth in production of the dry fuel for past few months, has posted over 7 per cent growth in December with 58 million tonne output, sources said on Wednesday. READ MORE

ICICI Bank: Investor sentiment on a high as share of retail loan rises

Expectations of greater shareholder value under the leadership of its new MD & CEO Sandeep Bakshi has revived investor interest in the stock, which was reeling due to management and asset quality issues around a year back. READ HERE

Baroda, Union MFs bank on mergers to increase their market share

The smaller-sized fund houses — Baroda Asset Management Company (AMC) and Union AMC — which are yet to gain a significant foothold in Rs 27-trillion mutual fund (MF) industry, are looking to increase their market share as bank mergers give their sponsor banks access to a wider branch network. READ MORE

Higher volumes, margins to fuel growth for gas-distribution firms

The Gujarat Gas stock surged over 7 per cent and scaled its all-time high on Wednesday. At the same time, the stock of Indraprastha Gas (IGL) is also close to its peak, while that of Mahanagar Gas (MGL) is trading at around its 22-month high. READ MORE

Nifty view & top trading ideas by CapitalVia: Buy Tata Power, Torrent Power

Market traded range bound on Wednesday; Nifty facing stiff resistance at 12,200
 
Market traded range-bound due to New Year holiday across Asia and lack of global cues. The Nifty closed at 12,182.50, gaining 14 points. IT, FMCG stocks traded with positive sentiments throughout the day whereas auto sector witnessed some pressure. Nifty bank closed at 32,102.90, shedding 58.75 points from the previous day’s closing. READ MORE

Bulk deals on BSE as on Wednesday

Bulk deals on NSE as on Wednesday

Security Name Client Name Buy / Sell Quantity Traded Trade Price /
Wght. Avg.
Price
Apex Frozen Foods Limited N.K.SECURITIES BUY 1,72,784 386.82
Apex Frozen Foods Limited N.K.SECURITIES SELL 1,72,784 387.01
California Soft Ltd. MAHADEVAN N BUY 26,280 13.17
California Soft Ltd. MAHADEVAN N SELL 61,926 12.99
CARE Ratings Ltd CENTILLION RESEARCH INDIA LLP BUY 3,91,500 693.09
CARE Ratings Ltd CENTILLION RESEARCH INDIA LLP SELL 3,91,500 693.51
CARE Ratings Ltd CHANDARANA INTERMEDIARIES BROKERS PRIVATE LIMITED BUY 2,80,806 698.53
CARE Ratings Ltd CHANDARANA INTERMEDIARIES BROKERS PRIVATE LIMITED SELL 2,84,743 697.96
Click here for the full list

FII/FPI & DII trading activity on NSE, BSE and MSEI


Rupee check

Source: Bloomberg


Oil check

Oil prices rose on the first trading day of 2020 as warming trade relations between the United States and China eased demand concerns, and rising tensions in the Middle East raised worries about supply.

Global benchmark Brent crude futures, were up 21 cents, or 0.3%, to 66.21 a barrel. U.S. West Texas Intermediate (WTI) crude CLc1 was up 21 cents, or 0.3 per cent, at $61.27 per barrel.
.

SGX Nifty

At 8:07 AM, the SGX Nifty was trading 5 points lower at 12,240, indicating a flat to negative start for domestic indices.

Asian Markets check

(Source: Reuters)
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