MARKET WRAP: Sensex jumps 530 pts, ends at fresh closing peak; metals shine

Topics Markets | MARKET WRAP

Almost across-the-board buying and US-China trade talks optimism lifted benchmark indices nearly 1.50 per cent higher on Monday. The session witnessed some solid buying in blue-chips such as HDFC, Bharti Airtel, Axis Bank, Reliance Industries (RIL), and IndusInd Bank. On the global front, news reports that China and the United States were ‘very close’ to a phase one trade deal, boosted investor sentiment further. 

At close, the S&P BSE Sensex stood at 40,889, up 530 points or 1.31 per cent. During the day, the index hit an all-time high of 40,931.71 levels. Bharti Airtel (up 7 per cent) emerged as the top gainer on the index while ONGC (down over 2 per cent) was the biggest loser. 

Market breadth was in favour of buyers as out of 2,707 companies traded on the BSE, 1,418 advanced and 1,083 declined while 206 scrips remained unchanged.

NSE's Nifty50 index ended at 12,079, up 165 points or 1.38 per cent. 

Broader market, too, participated in Monday's rally. The Nifty Midcap 100 index ended over a per cent higher at 17,055 levels while the Nifty Smallcap 100 pack gained 0.70 per cent to close at 5,741 levels. 

Sectorally, all but media stocks ended in the green. Metal stocks rallied the most on renewed hopes of positive developments in US-China trade talks. The Nifty Metal index climbed over 3 per cent to 2,599 levels. Auto and Pharma stocks were next on the list. On the downside, Nifty Media index slipped over 1.50 per cent to 1,946 levels. 

BUZZING STOCKS

Shares of State Bank of India (SBI) hit an over three-month high of Rs 336, up over 2 per cent on the BSE. In the past nine trading days, SBI has outperformed the market by gaining 9 per cent after the Supreme Court judgement on Essar Steel resolution came in favor of financial creditors on November 15, 2019. READ MORE

Shares of Ashoka Buildcon zoomed 11.5 per cent to Rs 104.05 apiece during the day on the BSEc after the company's subsidiary bagged a project worth Rs 1,000 crore in the state of Telangana. Shares ened at Rs 96.45, up nearly 3.50 per cent. READ MORE

Shares of Adani Green Energy (AGEL) hit a new high of Rs 115, up 7 per cent on the BSE on the back of heavy volumes. The stock had rallied 10 per cent on Friday. READ MORE   

GLOBAL MARKETS

World shares staged a cautious rally on Monday as investors held out for some progress in US-China trade talks, while the dollar dipped after its latest rally on the back of strong US economic data. The MSCI All-Country World Index, which tracks shares across 47 countries, was up 0.2 per cent. In Asia, MSCI’s broadest index of 

Asia-Pacific shares outside Japan bounced 0.7 per cent, after losing 0.4 per cent last week. Japan’s Nikkei firmed 0.7 per cent, while Australian stocks rose 0.5 per cent and Shanghai blue chips 0.3 per cent.

European shares rose for the second straight session following reports that Washington and Beijing were nearing a trade agreement. The pan-European index was up 0.7 per cent till the time of writing of this report, led by trade-sensitive miners. E-Mini futures for the S&P 500 added 0.2 per cent. 

In commodities, oil prices gained on US-China trade talks optimism. 

(With inputs from Reuters)

 


3:44 PM IST Across-the-board buying lifts sentiment

3:36 PM IST

3:36 PM IST

3:35 PM IST The S&P BSE Sensex advanced 530 points or over 1 per cent to settle at 40,889 while NSE's Nifty50 index ended at 12,079, up 165 points or 1.38 per cent. 

3:16 PM IST

3:00 PM IST

2:48 PM IST CMP: Rs 504    TP: Rs 605 (+20%)    Reco: Buy   While Trent is richly valued, we believe that Zudio’s high growth and profitability potential can help sustain these valuations. Maintain Buy with TP of Rs 605/share.

2:48 PM IST

2:41 PM IST

2:35 PM IST -- GIC on account of Government of Singapore & Monetary Authority of Singapore buy additional 2.96% equity in Zee Ent on November 21

2:32 PM IST COMPANY PRICE(rs) 52 WK HIGH CHG(rs) CHG(%) AAVAS FINANCIERS 1726.90 1750.00 2.50 0.14 ADANI ENTERP. 214.75 215.55 11.15 5.48 ADANI GREEN 113.10 117.00 6.50 6.10 DLF 219.70 226.40 3.15 1.45 ORIENT ELECTRIC 197.00 205.00 9.15 4.87 » More on 52 Week High

2:22 PM IST

LIVE UPDATES

Nifty snapshot

Across-the-board buying lifts sentiment



Bharti Airtel, Tata Steel, Maruti among top gainers


Sensex ends over 500 points higher


CLOSING BELL

The S&P BSE Sensex advanced 530 points or over 1 per cent to settle at 40,889 while NSE's Nifty50 index ended at 12,079, up 165 points or 1.38 per cent. 

MARKET CHECK | Sensex hits 40,900


Index Contributors at this hour


BROKERAGE RADAR | MOFSL on Trent

CMP: Rs 504 
 
TP: Rs 605 (+20%) 
 
Reco: Buy
 
While Trent is richly valued, we believe that Zudio’s high growth and profitability potential can help sustain these valuations. Maintain Buy with TP of Rs 605/share.

Indiabulls Housing Finance zooms 7%


BUZZING STOCK:: Unichem Labs surges 12%


NEWS ALERT | Govt of Singapore buys stake in ZEEL: CNBC TV18

-- GIC on account of Government of Singapore & Monetary Authority of Singapore buy additional 2.96% equity in Zee Ent on November 21


Stocks that hit 52-week high on S&P BSE Sensex

COMPANY PRICE(rs) 52 WK HIGH CHG(rs) CHG(%)
AAVAS FINANCIERS 1726.90 1750.00 2.50 0.14
ADANI ENTERP. 214.75 215.55 11.15 5.48
ADANI GREEN 113.10 117.00 6.50 6.10
DLF 219.70 226.40 3.15 1.45
ORIENT ELECTRIC 197.00 205.00 9.15 4.87
» More on 52 Week High

Heatmap: S&P BSE Sensex


Sensex extends gains, zooms over 500 pts now


Most active stocks by volume

COMPANY PRICE(rs) CHG(rs) CHG(%) VOLUME
VODAFONE IDEA 6.80 0.24 3.66 52490235
YES BANK 62.75 -2.05 -3.16 8717412
RELIANCE POWER 3.67 0.17 4.86 4250114
ERIS LIFESCIENCE 431.25 17.00 4.10 3869431
SUZLON ENERGY 2.36 0.00 0.00 2980103
» More on Most Active Volume

SBI hits over three-month high, surges 37% from October lows

Shares of State Bank of India (SBI) hit an over three-month high of Rs 335, up 2 per cent on the BSE on Monday. The stock of the state-owned bank was trading at its highest level since July 30, 2019. In the past nine trading days, SBI has outperformed the market by gaining 9 per cent after the Supreme Court judgement on Essar Steel resolution came in favor of financial creditors on November 15, 2019. READ MORE

Sensex hits fresh high


Market check


Nifty sectoral indices at this hour


CSB IPO: Issue subscribed 2.26 times so far on Day 2


BUZZING STOCK:: Bharti Infratel climbs over 5%


Sensex can scale higher of it breaches 40,800; bank stocks likely to shine

S&P BSE SENSEX: The index may consolidate in the range of 40,000 and 40,800 and then gain further gorund. The daily chart shows buying around 40,200. If this level holds, then a further upside looks certain. Although, MACD trades with a negative crossover, the charts do not indicate any major weakness as of now. READ MORE

NEWS ALERT | Fin Min to Parliament on PMC Bank case

-- Bank had disclosed exposure of Rs 439.6 crore out of Rs 6,226 crore to HDIL

-- Exposure to HDIL was misreported to RBI 

-- Forensic auditors appointed to look into the case

Analysts see more headroom for quality real estate stocks

Real estate sector has been a surprise performer in calendar year 2019 (CY19) at a time when the most players in the segment had been, over the years, saddled with unsold inventory and liquidity issues. The Nifty Realty index has been an outperformer, rallying 19 per cent thus far in CY19, as compared to 10 per cent rise in the Nifty50. READ MORE

India's economic growth to weaken in second half of FY19, says DBS Bank

India's economic growth is expected to slow further in the second half of the year, Singapore's DBS Bank said on Monday.
 
"Real GDP is likely to print 4.3 per cent YoY in 3Q vs 2Q's 5 per cent, nearing the trough for this cycle," DBS said in its daily economic report.
 
Weakness in the crucial consumption sector is likely to be extended into the quarter along with tepid private sector activity. READ REPORT HERE

Auto stocks gain

COMPANY NAME LATEST HIGH LOW CHG
(rs)
CHG(%)
TATA MOTORS-DVR 74.75 75.30 73.10 0.30 0.40
TATA MOTORS 163.30 164.05 160.00 1.00 0.62
ASHOK LEYLAND 82.05 82.55 81.40 0.75 0.92
M & M 548.30 552.75 547.00 2.40 0.44
TVS MOTOR CO. 449.85 452.00 442.55 7.25 1.64
MARUTI SUZUKI 7206.50 7213.55 7043.90 148.90 2.11
ESCORTS 657.75 658.65 648.20 9.75 1.50
HERO MOTOCORP 2469.35 2471.00 2430.00 29.20 1.20
HIND.MOTORS 5.80 5.95 5.61 0.15 2.65
BAJAJ AUTO 3157.00 3160.25 3119.25 4.20 0.13

Oil check

Oil prices rose on Monday as positive noises from Washington over the weekend rekindled hopes in global markets that the United States and China could soon sign an interim deal to end their bitter trade war.

West Texas Intermediate (WTI) crude rose 18 cents, or 0.31 per cent to $57.95 a barrel, having ended last week little changed after tracking ups and downs in the trade talks process. Brent crude futures were at $63.66, up 27 cents or 0.43 per cent, the benchmark having also finished little changed last week.

Rupee trading near day's high


DoT sets up committee to examine the impact of telecom tariff hikes

The Department of Telecommunications (DoT) has set up an internal committee to examine the impact of the increase in tariff hikes that Vodafone Idea, Bharti Airtel, and Reliance Jio have announced and will come into effect on December 1.
 
It is learnt that even though the subject is under forbearance (meaning market forces to operate), the government may intervene if the rise is ‘exorbitant’. The committee was set up after the companies announced their decision to raise tariffs. READ MORE

Maruti Suzuki up 1%


Metal stocks gain; Tata Steel, Hindalco up 4%, Jindal Steel climbs 5%

Shares of metal companies were in focus on Monday with the Nifty Metal index gaining over 2 per cent on renewed hopes of positive developments in US-China trade talks. Jindal Steel & Power (JSPL) and Hindalco Industries were up 5 per cent and 4 per cent, respectively. Tata Steel, JSW Steel, Vedanta, Steel Authority of India (SAIL) and NMDC were up in the range of 2 per cent to 3 per cent on the National Stock Exchange (NSE). READ MORE

Market check


Market check


IBC rules for NBFC resolution credit positive for banks, says Moody's

India's banks are largest lenders to non banking finance Institutions (NBFI). The provisions in the IBC provide for the orderly resolution of a stressed company. Until now, the only resolution framework for NBFIs was through liquidation.
 
"We expect an orderly resolution process via the IBC will help limit losses for creditors as compared with liquidation," Moody's said in a statement. READ REPORT HERE 

Nifty Auto index trades higher


Eris Lifesciences gains 6% as 3% equity changes hands via block deals

Shares of Eris Lifesciences have surged 6 per cent to Rs 437 in early morning trade on BSE on Monday after nearly 3 per cent of total equity of pharmaceutical company changed hands via block deals. Around 3.82 million equity shares representing 2.78 per cent of total equity of Eris Lifesciences have changed hands on the BSE, the exchange data shows. Names of the buyers and sellers could not be ascertained immediately. READ MORE

L&T Finance Holdings climbs over 4%


BUZZING STOCK:: Aditya Birla Capital surges 10%


Adani Green Energy hits new high; zooms 120% in two months

The counter has seen huge trading volumes with a combined 2.45 million shares changing hands on the NSE and BSE in the first half-an-hour of trading. In the past two months, the stock has zoomed 120 per cent, as against a 5 per cent rally in the benchmark S&P BSE Sensex. At 10:35 AM, the stock was trading 6.4 per cent higher at Rs 113.5 apiece, as against a 0.58 per cent rise in the benchmark index. READ MORE

Buzzing | Phoenix Mills gains 4%


Rupee only emerging Asian currency to slide this qtr; losses to gather pace

India’s rupee is the only emerging Asian currency to weaken this quarter and its losses may gather pace as a report this week is forecast to show economic growth slid to a six-year low. The rupee, which has slumped almost 5% from this year’s high in July, is also under selling pressure due to escalating levels of public debt and a credit crunch among non-bank finance companies, known as shadow banks. READ MORE
 
 

Ashoka Buildcon zooms 12% on receipt of order worth Rs 1,000 crore

According to the infra developer's BSE filing, its arm Ashoka Concessions Limited has received a Letter of Award (LOA) from National Highways Authority of India, the central government's arm for constructing national highways across the country, for the projects under Bharatmala programme, the flagship programme of the government to develop highways worth Rs 6.92 trillion across India. The bagged project includes four laning of NH-161 from Kandi to Ramsanpalle inTelangana on Hybrid Annuity Mode (HAM). READ MORE

BUZZING STOCK:: InterGlobe Aviation gains 3%


Havells India up 2%


Contribution to Sensex's gain in early trade


Bharti Airtel up over 3%


Zee Entertainment dips 3%


Ultratech Cement climbs 1%


MARKET UPDATE:: Sensex zooms over 200 pts


Ashoka Buildcon rallies in early trade


BUZZING STOCK:: Eris Lifesciences Ltd up 3%


Nifty sectoral indices in early trade


Unichem Labs climbs over 3% after receiving US FDA approval for its Atenolol tablets


Titan Company gains 1% as the stock is set to enter Sensex pack, starting December 23


Edelweiss Financial gains 3%


Metal stocks trade higher in opening minutes


Tata Steel up over 2%


First trade

At 9:18 am, the S&P BSE Sensex was trading 118 points, or 0.3 per cent, higher at 40,477, and the Nifty50 index was up 30 points, or 0.25 per cent, at 11,945

Nifty at open


Market at open


NEWS ALERT | 29 lakh shares (2.1% equity) of Eris Life traded in 3 block deals on NSE: CNBC TV18


NEWS ALERT | DCB Bank clarifies on its exposure to Karvy Stock Broking Ltd


Market at pre-open


Rupee opening

Rupee opens flat at 71.69/$ vs Friday's close of 71.71 against the US dollar

FPIs infuse Rs 17,722 cr into Indian markets in November so far; still wary

According to depositories data, overseas investors pumped in a net sum of Rs 17,547.55 crore into equities and Rs 175.27 crore in the debt segment during November 1-22, taking the cumulative net investment to Rs 17,722.82 crore.
 
FPIs were net buyers in the preceding two months as well. They infused a net Rs 16,464.6 crore in October and Rs 6,557.8 crore in September into the domestic capital markets (both equity and debt). READ MORE

Stocks to watch

Sensex rejig: Titan Company, UltraTech Cements and Nestle India will replace YES Bank, Vedanta, Tata Motors and Tata Motors DVR in the benchmark Sensex. The changes will be effective Monday, 23 December 2019.
 
Voda Idea: Vodafone Idea on Friday said Care Ratings has downgraded rating on its long term bank facilities and non-convertible debentures citing erosion in the firm's overall risk profile following the SC ruling on AGR dues, as also significant losses in September quarter. READ MORE

Karvy a tip of iceberg: Lens on 3 dozen brokers for Rs 10k-crore fund abuse

Market regulator Securities and Exchange Board of India (Sebi) has trained guns on more brokers for indulging in the practice of using clients’ shares. Sources say the issue is not limited to just Karvy Stock Broking, with over three dozen more brokers under lens for misappropriating client funds to the tune of Rs 10,000 crore. READ REPORT HERE

Airtel and Voda-Idea remain risky bets

Policymakers have come to the unsurprising conclusion that the telecom sector is too big to fail. Airtel and Vodafone Idea would cease to be going concerns if they had to fork out a combined Rs 83,000 crore in Adjusted Gross Revenue (AGR) by January 2020. That would lead to the sector becoming a monopoly. It would also leave some 700 million subscribers in the lurch. READ MORE HERE

Nifty outlook and top trading ideas by CapitalVia: Buy HDFC, Equitas

Market traded lower on Friday; Nifty facing stiff resistance at 12,000
 
Market traded with negative sentiments on Friday as it witnessed profit booking on higher levels despite strong global cues. Nifty closed at 11,914.40 shedding 54 points. Media, metals and automobile stocks traded with positive sentiments through the day and gained most among indices. Nifty Bank closed at 31,111.60, losing 238.40 points from the previous day’s closing.
 
As per weekly options data, a handful of Put unwinding on strikes ranging from 11,900 to 12,100 shows Nifty is witnessing weakening support in the zone of sub-11,950. Call writing on higher strikes ranging of 11,900 to 12,100 shows market is likely to face resistance at higher levels. READ MORE

Bulk deals on BSE as on Friday

Bulk deals on NSE as on Friday

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


Rupee Check

Source: Bloomberg


Oil Check

At 8:21 AM, Brent Crude Futures were at $62.44 per barrel, up 0.11 per cent.

SGX Nifty

At 8:19 AM, the Singaporean Exchange for Nifty Futures were at 11,938 level, up 19 points.

Asian Market Check

Source: Reuters


US Market Check

Source: Reuters


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