MARKET WRAP: Indices snap 3-day losing streak, Sensex up 411 pts; PSBs gain

Topics MARKET WRAP | Markets

Photo: Kamlesh Pednekar
Snapping three-day losing streak, buying sentiment was back at D-Street with benchmark indices edging a per cent higher on Friday lifted by gains in financial counters. 

The S&P BSE Sensex gained 411.38 points, or 1 per cent, to close at 41,575.14 level, with Axis Bank (up 3 per cent), Power Grid (2.2 per cent), SBI (2 per cent), and Bharti Airtel (1.89 per cent) settling as the top gainers on the index. On the flipside, UltraTech Cement (0.22 per cent), and Titan (0.17 per cent) were the top drags.

On the NSE, the Nifty50 ended 124.15 points, or 1.02 per cent highet at 12,250.70-mark.

The Sensex and Nifty50 hit an intra-day high/low  of 41,611.27/41,264.92 and 12,258.45/12,157.90, respectively. 

On the sectoral front, all the key indices on the NSE settled the day in the positive territory. Nifty PSU Bank index was the best performing index, up 3 per cent, at close, followed by gains in Nifty Realty index (1.6 per cent), and Nifty Bank index (1.3 per cent). 

The broader markets, too, followed headlines indices with the S&P BSE mid and small-cap indices gaining 0.86 per cent each.

GLOBAL CUES

Asian shares scaled an 18-month high on Friday while oil prices stayed buoyant in a holiday-shortened week, as investor optimism improved on hopes a US-China trade deal would soon be signed.

In early European trade, the pan-region Euro Stoxx 50 futures added 0.4 per cent, German DAX futures rose 0.6 per cent while FTSE futures were up 0.5 per cent.

MSCI’s broadest index of Asia-Pacific shares outside Japan jumped 0.7 per cent to 555.42, a level not seen since mid-2018. Japan’s Nikkei was off 0.4 per cent, but on track for a near 19 per cent rise this year, matching the annual increase of 2017. Australia’s benchmark index rose 0.4 per cent. Chinese shares gave up early gains with the blue-chip CSI300 down 0.1 per cent.

(With inputs from Reuters)

3:41 PM IST

3:40 PM IST COMPANY PRICE(rs) CHG(rs) CHG(%) VOLUME VODAFONE IDEA 5.83 -0.22 -3.64 17265082 YES BANK 47.95 -0.75 -1.54 8842560 SUZLON ENERGY 1.97 -0.04 -1.99 7270745 INDIABULLS HOUS. 299.65 2.40 0.81 2560846 RELIANCE POWER 3.42 0.03 0.88 2490662 » More on Most Active Volume

3:40 PM IST COMPANY PRICE(rs) 52 WK HIGH CHG(rs) CHG(%) ADANI GREEN 151.40 164.00 -4.80 -3.07 AMBER ENTERP. 1090.40 1112.95 13.00 1.21 APL APOLLO 1780.00 1790.00 71.15 4.16 BALRAMPUR CHINI 185.15 185.15 10.00 5.71 COROMANDEL INTER 524.45 528.00 0.30 0.06 » More on 52 Week High

3:39 PM IST

3:38 PM IST

3:37 PM IST >> The benchmark S&P BSE Sensex surged 411.38 points or 1 per cent to 41,575.14.   >> On the NSE, the broader Nifty50 settled with 119.25 points, or 0.98 per cent, gain at 12,245.80.

3:36 PM IST

3:22 PM IST Poor industrial growth and the downward pressure on bond yields and interest rates have begun to take a toll on the investment portfolio of Life Insurance Corporation of India, probably the country's single-largest investor in fixed income securities and the equity market. READ MORE

3:21 PM IST

3:10 PM IST

3:09 PM IST

LIVE UPDATES

Contribution to S&P BSE Sensex's gain today


Most active stocks by volume

COMPANY PRICE(rs) CHG(rs) CHG(%) VOLUME
VODAFONE IDEA 5.83 -0.22 -3.64 17265082
YES BANK 47.95 -0.75 -1.54 8842560
SUZLON ENERGY 1.97 -0.04 -1.99 7270745
INDIABULLS HOUS. 299.65 2.40 0.81 2560846
RELIANCE POWER 3.42 0.03 0.88 2490662
» More on Most Active Volume

BSE500 stocks that hit 52-week high today

COMPANY PRICE(rs) 52 WK HIGH CHG(rs) CHG(%)
ADANI GREEN 151.40 164.00 -4.80 -3.07
AMBER ENTERP. 1090.40 1112.95 13.00 1.21
APL APOLLO 1780.00 1790.00 71.15 4.16
BALRAMPUR CHINI 185.15 185.15 10.00 5.71
COROMANDEL INTER 524.45 528.00 0.30 0.06
» More on 52 Week High

Nifty sectoral indices at close


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


Closing Bell

>> The benchmark S&P BSE Sensex surged 411.38 points or 1 per cent to 41,575.14.
 
>> On the NSE, the broader Nifty50 settled with 119.25 points, or 0.98 per cent, gain at 12,245.80.

Closing Bell


Yield on LIC's investment portfolio slipped to 8-year low of 7.59% in FY19

Poor industrial growth and the downward pressure on bond yields and interest rates have begun to take a toll on the investment portfolio of Life Insurance Corporation of India, probably the country's single-largest investor in fixed income securities and the equity market. READ MORE

NEWS ALERT | ITD Cementation bags order worth $80 mn in Myanmar


BUZZING STOCK | MRF surges 3%


Market check


Buzzing | Equitas Holdings gains over 3.5%


NEWS ALERT | Wockhardt promoter created pledge on 72 lakh shares (6.5% equity) on Dec 23: CNBC TV18


BUZZING STOCK | Tech Mahindra gains over 1%


Pharma stocks trade higher

COMPANY LATEST(rs) CHG(rs) CHG(%) VOLUME
DISHMAN CARBOGEN 82.15 2.85 3.59 486150
SUN PHARMA.INDS. 425.95 3.65 0.86 85025
BIOCON 291.00 1.45 0.50 50958
JUBILANT LIFE 520.30 0.35 0.07 50340
AUROBINDO PHARMA 463.55 3.85 0.84 48353
» More

Asian Markets check

Asian shares scaled an 18-month high on Friday while oil prices stayed buoyant in a holiday-shortened week, as investor optimism improved on hopes a US-China trade deal would soon be signed.

Traders returned from their Christmas and Boxing Day break to digest comments from Beijing that it was in close contact with Washington about an initial trade agreement, shortly after US President Donald Trump talked up a signing ceremony for the recently struck Phase 1 trade deal.
 
In early European trade, the pan-region Euro Stoxx 50 futures added 0.4 per cent, German DAX futures rose 0.6 per cent while FTSE futures were up 0.5 per cent.
 
MSCI’s broadest index of Asia-Pacific shares outside Japan jumped 0.7 per cent to 555.42, a level not seen since mid-2018. It is up more than 16 per cent so far this year. Japan’s Nikkei was off 0.4 per cent, but on track for a near 19 per cent rise this year, matching the annual increase of 2017. Australia’s benchmark index rose 0.4 per cent. Chinese shares gave up early gains with the blue-chip CSI300 down 0.1 per cent.

(via Reuters)

NEWS ALERT | ICRA reaffirms long-term rating at AA & short-term at A1+ : Page Ind via BSE Filing


NEWS ALERT | Reliance Infra receives Rs 94 cr out of arbitration award of Rs 350 cr from Goa Govt: BSE filing

>> Proceeds to be used for payment to lenders & reducing debt

BROKERAGE RADAR :: Geojit Financial Services on PVR

Q2FY20 revenue grew by ~37% on a YoY basis owing to better box office and F&B collections. F&B spend per head grew by ~38% YoY while Ad income rose by 16% (YoY). We therefore forecast F&B to witness good momentum in FY21. However  ATP continued to witness marginal decrease of -3%(YoY) which was in line with our expectations. SPI cinema posted an average performance while ATP increased (Rs 162 vs Rs 152) due to strong traction from Hollywood movies. We revise upward our FY20E & FY21E EBITDA estimates by 6% & 10% resp. and increase the PAT estimates by 5% & 12% resp. and upgrade the rating to Buy with a revised TP of Rs 2,115 at 2.8x FY21E EV/Sales.
 
 

Reliance Industries up over 1%


Heatmap: S&P BSE Sensex


MARKET UPDATE:: Nifty gains over 100 pts


Sugar stocks rally for second straight day; Balrampur Chini hits 13-yr high

Balrampur Chini Mills surged 5 per cent to Rs 183 in the intra-day trade, to quote at its highest level since May 2006. The stock had hit an all-time high of Rs 205 on April 2006. In the past one month, it has outperformed the market by zooming 24 per cent, as compared to a per cent rise in the S&P BSE Sensex. READ MORE

BUZZING STOCK | SpiceJet climbs nearly 7%


BSE500 stocks that hit 52-week high today

COMPANY PRICE(rs) 52 WK HIGH CHG(rs) CHG(%)
ADANI GREEN 156.00 164.00 -0.20 -0.13
AMBER ENTERP. 1101.00 1112.95 23.60 2.19
APL APOLLO 1740.90 1760.00 32.05 1.88
BALRAMPUR CHINI 182.90 183.30 7.75 4.42
COROMANDEL INTER 523.70 528.00 -0.45 -0.09
» More on 52 Week High

Nifty sectoral indices at this hour


BROKERAGE RADAR | Motilal Oswal Financial Services on ONGC

The stock is trading at 5.0x FY21E consolidated EPS of INR27.3. We value the company at 8x FY21 standalone EPS of INR19.9 (excluding other income) adding the value of investments; we reiterate Buy rating with TP of Rs 190. 

Battered by slowdown, auto industry pins hopes on 2020 for turnaround

The industry's hopes are also in line with expectations that the economy would finally come out of the slump, drawing people back to the showrooms. Yet, the challenges of transition to stricter emission norm BS-VI from BS-IV and compliance to new safety norms thereby making vehicles costlier are lurking around the sector. READ MORE

Scrapped listing plan weighs on Reliance Retail's unlisted shares

Trades in Reliance Retail’s unlisted shares are said to have been affected by the announcement of a scheme through which the company’s shares would be exchanged for a stake in the parent company, Reliance Industries Limited (RIL). READ MORE

Apollo Hospitals Enterprise gains 3%


Sensex up 300 pts


Whirlpool of India dips 2%


MARKET CHECK:: Sensex holds gains


HG Infra Engg jumps 10% on bagging Rs 522 crore highway project from NHAI

Shares of HG Infra Engineering jumped over 10 per cent to Rs 269 apiece on the BSE on Friday, a day after the company said it has bagged a highway project worth Rs 522 crore in Haryana from the National Highways Authority of India (NHAI).
 
At 10:44 am, the stock was trading over 6 per cent higher at Rs 259. In comparison, the S&P BSE Sensex was trading 267 points or 0.65 per cent higher at Rs 41,431 levels. READ MORE

NEWS ALERT | IOB receives govt nod for capital infusion of Rs 4,360 crore: BSE filing

>> Received  sanction from Government of lndia for release of Rs 4360 crore towards contribution of the Central Government in the preferential allotment of equity shares (Special Securities/Bonds) of the Bank during the financial year 2019-20 as Government's investment.


Gujarat Gas up 3% as Crisil upgrades rating of Co's long-term bank facilites

Shares of Gujarat Gas Limited (GGL) climbed 4 per cent to Rs 232 on the BSE on Friday after the rating agency Crisil upgraded its rating on the long-term bank facilities of the company to 'AA+' with a 'stable' outlook from 'AA' with a 'positive' outlook. In its rating rationale, Crisil said it believes GGL will continue to depict a steady growth in operating performance, backed by healthy volume growth and stable realisation levels. READ MORE

NEWS ALERT | Sundaram Clayton declare non-working days from Dec 28-31: BSE filing

>> The Company's major plants has declared 28th December 2019, 30th December 2019 and 31st December 2019 as non-working days, due to business slowdown across sectors. 

NEWS ALERT | Future Coupons receive Rs 1,500 cr from Amazon for 49% stake sale: CNBC TV18

Alert: CCI gave a nod to Amazon’s proposal to acquire 49% in Future Coupons in November 2019

         Promoters of Future Group entered into an agreement with Amazon in August 2019


Bank-backed broking houses expect client influx after Karvy fiasco

Bank-backed broking houses are expecting to corner a significant chunk of market share as investors, driven by safety concerns for their investments after the Karvy episode, shift their accounts from smaller broking houses. At present, the top-four bank-backed brokerages account for one-fourth (a 25 per cent market share) of active clients. READ MORE

Market check


Five-fold increase in dollar bonds in 2019, firms raise $23.6 billion

The lack of access to funds for below-top-rated corporates, along with attractive borrowing costs in the offshore market, has driven Indian firms to raise $23.6 billion through dollar bonds in 2019 — a nearly fivefold jump from the previous year. READ MORE

BROKERAGE RADAR | Emkay Global Financial Services on Dixon Tech

Management remains confident of adding new customers in its key segments and capitalizing on exports in its lighting business, which is expected to start from FY21E. We continue to highlight that increasing competitive intensity will augur well for OEMs such as Dixon as brands will focus more on distribution and marketing rather than in-house production. We continue to prefer contract manufacturers over brands. Increasing business scale with sustained revenue growth should bode well for operating margins and working capital cycle. We are OW on Dixon in sector and SMID EAP. Key risks are macro slowdown affecting demand for consumer durables, raw material cost inflation, rupee volatility, and customer losses.

Year Ahead 2020 | From SBI to ITC: Sectors and stocks brokerages are bullish on

Going ahead, analysts say the market will be driven by macro-economic tailwinds. Receding global trade war fears, continuity of enabling government policies, benefits of low-tax structures for corporates, good monsoon, low-interest rate regime, the low base of CY19 will turn sentiment around, leading to higher consumption. Improving economic outlook along with favourable policies should see FPIs returning. READ MORE

BUZZING STOCK | ICICI Securities jumps 10%


Momentum Picks by ICICI Securities


Market check


Allahabad Bank jumps 11% as govt approves capital infusion of Rs 2,153 cr

Shares of Allahabad Bank bounced 10.98 per cent to Rs 19.70 per share on the BSE on Friday after the state-owned bank said the President has sanctioned fresh capital infusion of Rs 2,153 crore, to be released during the current financial year of 2019-20.
 
"The President has sanctioned the release of fresh capital infusion fund of Rs 2,153 crore towards contribution of the Central Government in the preferential allotment of equity shares of the bank during the financial year 2019-20, as Government's investment," the bank said in an exchange filing, post-market hours, on Thursday.  READ MORE

Cyient, TCS slip over 0.5% amid report Boeing 737 Max crisis to hit IT cos

Shares of major information technology (IT) companies were trading lower in the early trade on Friday after a report said IT outsourcing contracts of more than $1 billion currently executed by Indian companies are at risk of termination because Boeing has halted the production of its flagship Boeing 737 Max jets with effect from January. READ MORE

Auto stocks gain

COMPANY LATEST(rs) CHG(rs) CHG(%) VOLUME
TATA MOTORS 176.15 1.55 0.89 77809
TATA MOTORS-DVR 73.25 0.45 0.62 65416
ASHOK LEYLAND 80.20 0.80 1.01 50164
M & M 530.00 1.55 0.29 13756
ESCORTS 619.70 2.55 0.41 5994
» More

Most active stocks by volume

COMPANY PRICE(rs) CHG(rs) CHG(%) VOLUME
VODAFONE IDEA 6.04 -0.01 -0.17 2561645
YES BANK 49.45 0.75 1.54 1081775
SUZLON ENERGY 1.98 -0.03 -1.49 1070631
DISH TV 13.34 0.15 1.14 312883
RELIANCE INFRA. 28.00 1.30 4.87 296993
» More on Most Active Volume

IT stocks under pressure

COMPANY LATEST(rs) CHG(rs) CHG(%) VOLUME
INFIBEAM AVENUES 54.45 -0.50 -0.91 221193
L & T INFOTECH 1762.50 -6.80 -0.38 12462
TCS 2183.40 -17.65 -0.80 10828
TATA ELXSI 815.60 0.00 0.00 8438
INFOSYS 730.40 1.15 0.16 7219
» More

SBI gains 2% in early trade


Gujarat Gas up 2%


Nifty PSU Bank index trades higher; top gainer among Nifty sectoral indices


BUZZING STOCK:: HG Infra up 6%


Hindustan Aeronautics slips 0.7%


Cadila Healthcare trades in the green


Gujarat Gas gains 2% on rating upgrade

>> Crisil has upgraded its rating on the long-term bank facilities of Gujarat Gas Ltd (GGL) to AA-plus with a stable outlook from AA-positive.


Allahabad Bank surges 9% on capital infusion


RIL snaps 4-day losing streak


SBI best performing stock on the Sensex


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 | M&M promoter releases pledge on 32.8 lakh shares on Dec 24: CNBC TV18

Rupee opening

Rupee opens unchanged at 71.31 against the US dollar

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


Market at Pre-open


Market at Pre-open


RBI to buy, sell g-secs of Rs 10,000 cr each via special open market ops

The Reserve Bank of India on Thursday announced simultaneous purchase and sale of government securities through special open market operations (OMOs) for Rs 10,000 crore each on December 30 following a review of liquidity situation.
 
Earlier this week, the central bank had conducted a similar OMO and purchased securities worth Rs 10,000 crore and sold worth Rs 6,825 crore. READ MORE

Latin America and India are key growth markets for UPL in H2FY20

The stock of India’s largest agrochemical company has corrected after muted September quarter results, on margin front worries, and higher debt. While the company will continue to face pressures in North America because of a supply glut and weak demand conditions in Europe, this is expected to be offset by growth in its largest market, Latin America, and a better Rabi season in the domestic market. READ MORE

Higher incremental capacity, load factors to boost SpiceJet's market share

After doubling from its yearly lows earlier this year, the stock of SpiceJet has been on a declining trend. Issues related to 737 MAX, pricing pressures in the domestic market, higher operating costs, and weak near-term earnings outlook have weighed on the stock price. There are, however, a few triggers, going ahead. READ MORE

Improving liquidity scenario is a positive for markets in 2020: Shiv Sehgal

The improving liquidity scenario is a positive for the markets in 2020, says Shiv Sehgal, deputy CEO, Edelweiss Global Investment Advisors. In an interview with Ashley Coutinho, he says India trades at 77 per cent from a market cap-to-GDP perspective which is its long-term average, and not expensive. READ FULL INTERVIEW HERE
Shiv Sehgal, deputy CEO, Edelweiss Global Investment Advisors

Correction in Marico stock an opportunity for long-term investors

A continuously challenging consumption scenario has only added to scepticism over the fast moving consumer goods (FMCG) sector’s volume and margin performance. The Street has also started factoring in the same, with the Nifty FMCG index shedding around 3 per cent in the last three months versus a 6 per cent rise in the Nifty50. READ MORE

Stocks to watch: TCS, Infosys, OMCs, ICRA, CARE, Gujarat Gas, Can Fin Homes

Here's a list of the top stocks that may trade actively in today's trading session -
 
IT companies: Shares of IT firms such as Tata Consultancy Services (TCS), HCL Technologies, Infosys, Cyient, and L&T Technology Services may remain in focus today as, according to a report, IT outsourcing contracts of more than $1 billion currently executed by Indian companies are at risk of termination because Boeing has halted the production of its flagship Boeing 737 Max jets with effect from January. 
 
ICRA, CARE Ratings: The Securities and Exchange Board of India (Sebi) has slapped a penalty of ~25 lakh each on credit rating agencies CARE and ICRA for violation of the Sebi (Credit Rating Agencies) Regulations pertaining to assigning of rating to various non-convertible debentures (NCDs) of IL&FS. READ MORE

Derivatives strategy on Muthoot Finance by Nandish Shah of HDFC Securities

Bull Spread strategy on MUTHOOT FINANCE
 
Buy Muthoot Finance January 750 Call at Rs 25 & simultaneously sell 800 call at Rs 9
 
Lot Size: 1,500.
 
Cost of the strategy: Rs 16 (Rs 24,000 per strategy)
 
Maximum profit: Rs 51,000 If Muthoot Finance closes at or above Rs 800 on January expiry.
 
Breakeven Point: Rs 766 READ MORE

Bulk deals on BSE as on Thursday

Bulk deals on NSE as on Thursday

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


Rupee check

Source: Bloomberg


Oil check

-- Oil prices rose on Friday, hitting three-month highs after data showed record online spending by US consumers, stoking faith in the world’s no. 1 economy even before the hoped-for end to the trade war between Washington and Beijing.
 
-- Brent crude futures were up 13 cents, or 0.2 per cent, at $68.05 a barrel, while the West Texas Intermediate contract was up 13 cents, or 0.2 per cent, at $61.81 a barrel.

SGX Nifty

At 8:12 AM, the Singaporean Exchange for Nifty Futures was at 12,225.50 level, up 32 points.

Asian Markets check

Source: Reuters


US Markets check

Source: Reuters


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