MARKET WRAP: Sensex up 175 pts; Tata Motors surges 7%, RIL down over 1.5%

All that happened in the markets today

Broad-based buying across sectors in the fag end of the trading session pulled indices back in the positive territory on Wednesday after news agency Bloomberg reported that the US and China were closer to signing trade deal despite heated rhetoric.

The benchmark S&P BSE Sensex surged 374 points from day's low to settle at 40,850.29 level, up 175 points or 0.43 per cent, with Tata Motors (up over 7 per cent) being the top gainer and L&T (down 2 per cent) being the top laggard among the Sensex pack. On the NSE, the Nifty50 was back above the psychological mark of 12,000, and settled 49 points, or 0.41 per cent higher, at 12,043-mark.

On the sectoral front, all the indices ended the day in the positive territory except Nifty Realty index. Nifty PSU Bank index advanced 2 per cent, followed by Nifty Metal index (1.5 per cent). On the downside, Nifty Realty index closed 0.07 per cent lower.

In the broader market, the S&P BSE Mid-cap index rose 0.58 per cent to settle at 14,911.06, while the S&P BSE small-cap index closed at 13,453.60, up 0.33 per cent.

BHARAT BOND ETF

After exchange traded fund for equities, the Union Cabinet on Wednesday approved launch of a exchange traded fund for bonds. The fund will provide additional money for state-owned firms and other government organisations, Finance Minister Nirmala Sitharaman said. Bharat Bond Exchange Traded Fund would be the first corporate bond ETF in the country. READ MORE

GLOBAL CUES

Asian shares extended losses on Wednesday. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.9 per cent. Japan's Nikkei dropped 1 per cent, matched by falls in Hong Kong and Korea , where stock markets touched their lowest since October.

Shanghai blue chips fell 0.2 per cent and Australia's S&P/ASX200 tumbled 1.6 per cent, having shed almost 4 per cent since closing on Monday. 

(With inputs from Reuters)

4:04 PM

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

4:04 PM

Sectoral trends at NSE at close

4:02 PM

Closing Bell

-- Benchmarks end near day's high

-- The S&P BSE Sensex surged 374 points from day's low to settle at 40,850.29 level, up 175 points or 0.43 per cent, with Tata Motors (up over 7 per cent) being the top gainer and L&T (down 2 per cent) being the top laggard among the Sensex pack.

-- On the NSE, the Nifty50 was back above the psychological mark of 12,000, and settled 43 points, or 0.36 per cent higher, at 12,037.30-mark.

3:22 PM

Karvy crisis: SAT refuses relief to lenders, asks to approach Sebi by Dec 6

The Securities Appellate Tribunal on Wednesday refused any immediate relief to top lenders who had petitioned against the transfer of securities held with Karvy Stock Broking Ltd back to the clients.

 

ICICI Bank, HDFC Bank and IndusInd Bank had contended that many of these securities have been used to borrow money from them and had asked the tribunal to either get back the securities to them or freeze them in an escrow account. READ MORE

2:59 PM

Stocks that hit 52-week high on BSE500 today

COMPANY	PRICE(rs)	52 WK HIGH	CHG(rs)	CHG(%)
ICICI BANK	523.00	524.70	14.00	2.75
ICICI SEC	345.45	356.40	0.85	0.25
J K CEMENTS	1191.00	1197.60	39.90	3.47
MAX FINANCIAL	514.95	529.90	-11.95	-2.27
PFIZER	4400.00	4498.00	56.65	1.30

2:59 PM

NEWS ALERT | Ashok Leyland to observe 2-12 non-working days in Dec: BSE filing

-- To be observed at few plants to align production with demand

2:55 PM

Tata Motors climbs 7% on increase in JLR sales in the US

Shares of Tata Motors jumped 7 per cent in the intra-day deals on Wednesday after reports said its flagship arm and UK-based luxury carmaker Jaguar Land Rover sold 12,472 units in the US, an increase of 6.2 per cent YoY against 11,744 units in November 2018. On month-on-month basis, its sales rose 19.4 per cent. READ MORE   

2:44 PM

Metal stocks gain on reports US, China move closer to trade deal

2:43 PM

NEWS ALERT | US & China move closer to a trade deal despite heated rhetoric: Bloomberg

2:28 PM

Asian Markets check

Asian shares extended losses on Wednesday after US President Donald Trump said a trade deal with China might have to wait until after the 2020 presidential election, dashing hopes for a quick preliminary agreement.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.9 per cent. Japan's Nikkei dropped 1 per cent, matched by falls in Hong Kong and Korea , where stock markets touched their lowest since October.

 

Shanghai blue chips fell 0.2 per cent and Australia's S&P/ASX200 tumbled 1.6 per cent, having shed almost 4 per cent since closing on Monday.

(via Reuters)

2:20 PM

STOCK WATCH :: Info Edge (India) records its sharpest intra-day fall since June 19.

-- Stock declined 7 per cent to Rs 2,370 on BSE on Wednesday

 

-- In past three trading days, the market price of the company has fallen 10 per cent. 

 

-- In comparison, the benchmark S&P BSE Sensex was down marginally by 0.43 per cent during the same period 
 

2:16 PM

YES Bank's $2 billion capital plan leaves shareholders in two minds

Almost a week after embattled Yes Bank Ltd. unveiled details of its plans to raise $2 billion in capital, shareholders remain unconvinced that a deal will take place. Shares of the Mumbai-based lender have fallen about 10 per cent since it announced the names of the investors for its proposed preferential issue. Doubts over key foreign bidders have triggered concerns that the Reserve Bank of India might not allow them to take ownership of the bad-debt laden bank. READ MORE

2:15 PM

NEWS ALERT | SEBI to pass order in Karvy stock broking case by Dec 12: SAT

-- No further relief to Bajaj Finance, other banks: SAT

-- SAT directs Bajaj Fin & other banks to approach SEBI by december 6 regarding their plea.

(via CNBC TV18)

 

1:55 PM

MARKET UPDATE:: Sensex pares some losses

1:45 PM

STOCK ALERT:: Gati locked in upper circuit of 5% at Rs 65.55 ahead of board meeting on Dec 5 to consider fund raising by way of preferential issue