Share Market Update: Equity market indices gained in trade after a volatile session and closed 0.10% higher by the closing bell. Sensex ended 59 points higher to close at 41,932 and Nifty ended 12 points higher at 12,356. In terms of sector, all the indices except Nifty metal closed in the greemn, with Nifty media rising almost 1.50%. Earlier in trade, market indices hit fresh lifetime highs, with Sensex climbing to 42,059 and Nifty hitting 12,389. Globally market ended higher after US President Donald Trump and Chinese Vice Premier Liu He signed a deal that will roll back some tariffs and see China boost purchases of US goods and services by $200 billion over two years. Companies that are scheduled to post their December quarterly earnings today are Tata Metaliks, Cyient, Aditya Birla Money, South Indian Bank, Karnataka Bank, Hathway Cable & Datacom among others
Here’s a look at the live updates of the market action on BSE and NSE today:
3: 50 PM
Equity market indices gained in trade after a volatile session and closed 0.10% higher by the closing bell. Sensex ended 59 points higher to close at 41,932 and Nifty ended 12 points higher at 12,356. In terms of sector, all the indices except Nifty metal closed in the greemn, with Nifty media rising almost 1.50%.
IRCTC share price hits Rs 1,000 mark
3: 30 PM
Share price of IRCTC hit the four-digit mark for the first time ever a day ahead of launch of India’s second private train Ahmedabad-Mumbai Central Tejas Express. The train will be operated by IRCTC. This is the first time IRCTC share hit the Rs 1,000 mark since the Indian Railways stock made its market debut in October last year. IRCTC share price rose up to 2.02% to Rs 1,005 compared to the previous close of Rs 985.50 in afternoon trade today.
Granules India rises over 6%
3: 00 PM
Shares of Granules India rose 6.59% to the intraday high of Rs 146.30 on BSE after the company announced that the company noard plans to consider share buyback on January 21, 2020.
Market back in green, indices up 0.15% each
2: 30 PM
Equity market indices gained in trade after a votalile session. Sensex gained 72 points higher to trade at 41,949 and Nifty traded 16 points higher at 12,360.
Alphageo rises 10% on bagging 2 orders worth Rs 112 cr from ONGC
2: 00 PM
Alphageo (India) Limited said it has received award of contracts from oil and natural gas corporation (ONGC), Jorhat for acquisition of 3D seismic data through outsourcing for “bogapha syncline” area and “tichna” area of A&AA basin for estimated contract value of Rs 43.23 crores and Rs 68.75 crores, respectively. Following the update shares of Alphageo touched an intraday high of Rs 201.45, rising 9.9% on BSE
Tinplate Company of India Q3
1: 45 PM
Tinplate Company of India’s net profit grew 198.91% yearly from Rs 15.54 crore to Rs 46.45 crore. The company has reported net sales of Rs 538.79 crores during Q3 FY19-20 as compared to Rs 635.60 crores during Q3 FY18-19, registering a 15.23% decline.
Following the Q3 results, shares of Tinplate Company of India touched an intraday high of Rs 163.95, rising 6.15% on BSE.
Bank of India, State Bank of India, Union Bank of India and Kotak Mahindra Bank exit from Equifax
1: 25 PM
Share prices of Bank of India, State Bank of India, Union Bank of India and Kotak Mahindra Bank rose in the morning trade on January 16 following their decision of sale stake in credit information bureau Equifax Credit Information Services (ECIS).
Following the disivnestment update by the banks, Kotak Mahindra Bank shares rose 1.5%, followed by 0.80% gain in State Bank of India share price. Bank of India shares climbed 0.72% and Union Bank of India stock price grew 0.38%, respectively.
1: 00 PM
South Indian Bank shares gained in trade and rose 3.2% intraday ahead of lender’s December quarter earnings results, scheduled to be released today. Similarly, shares of Tata Metaliks climbed 2.72% and Karnataka Bank rose 2.57% intraday.
On the contrary, shares of Cyeint fell 2.9% today while, Aditya Birla Money share price declined 2.5% intraday, ahead of the quarterly results.
Axis Bank 1% lower
12: 40 PM
Shares of Axis Bank were trading 1% lower today as the markets regulator SEBI rejected lender’s plea to allow the lender to invoke the pledge on shares in the Karvy Stock Broking Ltd matter. The order comes after the Securities Appellate Tribunal (SAT) on December 20 had asked SEBI to pass an order by January 15, 2020 in the case.
The tribunal had modified its earlier directive passed on December 17, wherein it had asked the markets watchdog to pass an order within 15 days in the case.
Kotak Mahindra Bank rises 1.5%
12: 20 PM
Shares of Kotak Mahindra Bank rose 1.5% to Rs 1,679.25 o nBSE after the company said Kotak Mahindra Prime Limited, its wholly-owned subsidiary has executed a Share Purchase Agreement, for sale of its entire equity stake of 5.56% in Equifax Credit Information Services Private Limited.
Wockhardt rises 14% intraday
12: 10 PM
Wockhardt shares traded 14% higher today and touched an intraday high of Rs 295.5 today after the company said it has received nod from Indian regulator for the country’s first new discovery antibiotics. Company said the two approved new antibiotics, Emrok(IV) & Emrok O are used for acute bacterial skin and skin structure Infections including diabetic foot infections and concurrent bacteraemia. The size of Indian Antibiotic market is approx Rs 16,000 crore, growing at 7% and is one of the largest therapeutic segment, with a 12% market share of the indian pharmaceutical market, the filing added.
GMR Infra rises over 4%
Shares of GMR Infrastructure rose 4.38% to Rs 25 on BSE after the company annoucned that it has decided to increase the transaction size by agreeing to divest 49% in GMR Airports Limited, as against previously agreed 44.44%, to TRIL Urban Transport Private Limited (part of TATA Group), an affiliate of GIC and SSG Capital Management in one or more tranches.
Indian Oil trades 1.2% lower
11: 55 AM
Shares of Indian Oil fell 1.2% in trade today as the company announced that it has issued 20,000 unsecured, rated, taxable, redeemable, non-convertible debentures (Series – XV) of Rs 10,00,000 each aggregating to Rs 2,000 crores on private placement basis on 14th January 2020 to meet its Capex requirements.
Jet Airways locks 5% lower
11: 30 AM
Shares of Jet Airways were locked in 5% lower circuit band at Rs 47.75 on the BSE on Thursday following reports that the Hinduja Group, earlier considered as a major contender for the now-defunct airline, has backed out from bidding as it found no value in the company. A Dubai-based fund, too, that had ealier showed interest in the grounded airline, did not submit an offer.
South America-based Synergy Group and Delhi-based Prudent ARC Limited are the two companies that have submitted EoIs (Expressions of Interests) for the beleaguered airline Jet Airways Limited. But for now, Synergy Group has also not found an Indian partner who will take majority control of the airline.
Subject to their eligibility, the Jet Airways lenders are expected to get binding bids on February 17, the report, quoting an unknown source, said.
Indices turn red
11 : 20 AM
Domestic equity market indices Sensex, Nifty erased early gains after hitting record highs and fell to trade in the red. BSE 30-share index Sensex was trading 3 points lower at 41,869. Similarly, Nifty was trading 8 points lower at 12,335, after hitting a new lifetime high of 12,389.
Sensex Nifty erase early gains, trade 0.10% higher
11: 00 AM
Equity indices Sensex and Nifty erased early gains from new record levels and traded up 0.10% each. After hitting a record peak of 42,059, the 30-share BSE index was trading 66 points higher at 41,938. Similarly, Nifty was trading 10 points higher at 12,354, after hitting a new lifetime high of 12,389.
Bharti Airtel, Vodafone trade higher
10: 50 AM
Shares of telecom majors Bharti Airtel and Vodafone were trading higher on Thursday’s early trade, ahead of Supreme Court hearing over the review petitions filed by telecom companies against its verdict on the Adjusted Gross Revenue (AGR) today. The hearing will be conducted in closed chambers at 1:50 pm on Thursday, although Bharti Airtel and Vodafone Idea had called for an open court hearing. The companies have to pay pending AGR dues to the Department of Telecommunications by January 23.
Ahead of the outcome, shares of the two telecom majors were trading higher, with Vodafone Idea stock price rising 5.16 % intraday, followed by Bharti Airtel stock that grew 2%.
Capacite Infraprojects bags Rs 407 crore order in Mumbai
10: 40 AM
Capacite Infraprojects said it has received an order from integrated unit (P.W. division) worth Rs. 407.16 crore (excluding gst) for construction of multi-storey super specialty hospital building at Sir J J Hospital Campus Byculla, Mumbai on EPC mode. Following the update the stock price of Capacite Infraprojects touched an intraday high of Rs 203.7, rising 4.01% on BSE.
Rupee rises to 70.72 per US dollar
10: 35 AM
The rupee appreciated by 7 paise to 70.75 against the US dollar in early trade on Thursday as sign of easing tensions between the US and China strengthened investor sentiments.
US-China sign first phase of trade deal
According to traders, global stocks rallied as investors heaved a sigh of relief after the US and China on Wednesday signed the first phase of a trade deal, concluding more than a year of tough negotiations between the two largest economies of the world.
The deal includes Intellection Property Protection and Enforcement, ending forced technology transfer, dramatic expansion of American agriculture, removing barriers to American financial services, ending currency manipulation, re balancing the US-China trade relationship and effective dispute resolution.
The deal does not address structural economic issues that led to the trade conflict, and does not fully eliminate the tariffs while the $200 billion purchase by China in two years as a target look daunting to achieve.
Stocks to watch today on January 16
10: 15 AM
YES Bank, Bank of Baroda, HDFC Bank, Coal India, Tata Metaliks, Cyient, Aditya Birla Money, South Indian Bank, Karnataka Bank among others are the top stocks to watch out for Thursday’s trading session.
India’s exports in December 2019 at $27.36 billion
10: 10 AM
The country’s exports contracted for the fifth month in a row by 1.8% in December 2019 to $27.36 billion, according to data released by the commerce ministry on Wednesday. Imports were also down 8.83 per cent at $36.61 billion over the total imports in December 2018. Non-petroleum, non-gems and jewellery exports in December last year stood at $21.05 billion compared to $21.16 billion during the same period a year before, exhibiting a 0.54 per cent decline.
Gainers and losers today
10: 00 AM
Sun Pharma, Nestle India, HUL, Kotak Bank, UltraTech Cement, Bajaj Auto and Bharti Airtel were trading as the top gainers today. On the other hand, IndusInd Bank, Tata Steel, NTPC, Titan, Mahindra and Mahindra, Tech Mahindra, ONGC and Asian Paints were trading among the top losers.
Market indices continue hitting new highs
9: 55 AM
Market benchmark Sensex on Thursday scaled the 42,000 mark for the first time ever and Nifty hit its record peak on Thursday, tracking positive cues from global equities after the US and China signed an initial trade deal. After hitting a record peak of 42,059, the 30-share BSE index was trading 165 points higher at 42,038. Similarly, Nifty was trading 38 points higher at 12,382,after hitting a new lifetime high of 12,389
Indices hit record high by first hour of trade
9: 45 AM
Domestic equity market indices Sensex, Nifty gained further on Thursday to hit new record high by the first hour of session. During Thursday’s trade, Sensex climbed to a fresh all-time high of 42,009.94 and Nifty too has hit a new lifetime high of 12,377.80 from 12,374.25 earlier.
YES Bank top gainer today
9: 35 AM
Yesterday, the lender released a media statement quoting,”Recently there have been some unsubstantiated and irresponsible press/ social media speculation about YES BANK. This release is being issued to firmly assure all our customers on YES BANK’s liquidity and stability. In this regard, it may be noted that the Bank’s overall Capital Adequacy Ratio is comfortably above regulatory requirements and all efforts are being made to financially strengthen the bank even further. Kindly, therefore, pay no heed to the unfounded reports”.
AGR verdict : Bharti Airtel, Vodafone Idea seek urgent hearing
9: 30 AM
The Supreme Court will hear review petitions filed by telecom companies against its verdict on the Adjusted Gross Revenue (AGR) today. The hearing will be conducted in closed chambers at 1:50 pm on Thursday, although Bharti Airtel and Vodafone Idea had called for an open court hearing. The companies have to pay pending AGR dues to the Department of Telecommunications by January 23.
FII/ DII action on Wednesday
9: 20 AM
Net investment of equity and debt reported by foreign portfolio investors (FPIs) bought Rs 279.53 crore from Indian equities while domestic institutional investors (DIIs) sold Rs 648.34 crore on Wednesday.
9: 15 AM
Domestic equity market indices Sensex, Nifty have opened flat on Thursday amid mixed global, domestic cues. BSE Sensex traded 38 points higher at 41,910.96, and Nifty traded up 3 points at 12,347.10. Globally market were mixed after US President Donald Trump and Chinese Vice Premier Liu He signed a deal that will roll back some tariffs and see China boost purchases of U.S. goods and services by $200 billion over two years.
9: 10 AM
BSE Sensex and NSE Nifty have opened on a falt-to-positive bias on Thursday amid positive Asian stocks, except Singaporean SGX Nifty futures that traded flat to negative. BSE Sensex traded 38 points higher at 41,910.96, and Nifty traded up 3 points at 12,347.10
9: 05 AM
On the commodity front, Brent Crude traded at $64.46/bbl up 0.72%.
Sterlite Tech Q3
8: 55 AM
Company’s Q3 net profit (yoy) stood at Rs 51.6 crore as against Rs 149.71 crore in the same period a year ago. Company’s revenue (yoy) in Q3FY19 stood at Rs 1,208 crore compared to Rs 1,345.30 crore during Q3FY19. On a quarterly basis, net profit declined 69% and revenue fell 12%.
L&T Infotech Q3
8: 50 AM
The IT company posted 0.32% increase in net profit to Rs 376.7 crore during the quarter under review compared to Rs 375.5 crore registered in the corresponding quarter last year. L&T Infotech’s revenue registered a 13.7% year-on-year increase in December quarter to Rs 2,811.1 crore, as opposed to Rs 2,472.9 crore December quarter in the last fiscal.
Telecom stocks to be in focus today
Shares of telecom companies Bharti Airtel and Vodafone Idea are likely to be in focus as the Supreme Court will hear the review petition by the telecom majors on payment of AGR dues today.
Q3 Earnings Today
8: 40 AM
Tata Metaliks, Cyient, Aditya Birla Money, South Indian Bank, Karnataka Bank, Hathway Cable & Datacom, Fervent Synergies, Dolat Investments, Bombay Wire Ropes, Asahi Industries, 5paisa Capital, Sanathnagar Enterprises, Roselabs Finance, Rishabh Digha Steel & Allied Products, Rallis India are among the companies that are scheduled to post their December quarterly earnings today.
Global Market Update
8: 35 AM
Globally market were tepid amid fresh geopolitical concerns between US and China after the US said its initial trade deal with China does not include tariff rollback.
Although by the later half, Asian stocks scaled to record peak on US-China trade deal, tracking trend from US stocks that closed higher too after Trump signed first phase of US-China trade pact. US Futures (Dow Jones) traded at 29047, up 18 points or 0.06%.
SGX Nifty Futures on the Singapore Exchange also traded down 8 points at 12,351, indicating a flat opening in the domestic market index.
8: 30 AM
Yesterday, market indices recovered from early losses and ended 0.15% lower on Wednesday, tracking weak overseas trend. Globally markets turned red. Sensex closed 79 points lower at 41,872 and Nifty ended 19 points lower at 12,343. By the closing bell, most sector based indices turned green except financial and banking stocks. IndusInd Bank, Wipro, Infosys, Tata Steel and Vedanta were among the major losers. Infratel, Britannia, Reliance Industries, Tech Mahindra, Hero MotoCorp were among the top gainers. Sensex hit an intraday low of 41,677.44 and Nifty made a low of 12,284.40 during Wednesday’s trade.