MARKET WRAP: Sensex halts 4-day gaining streak, slips 164 pts; realty falls

All that happened in markets today

Halting its four-day gaining streak, equity market ended in the negative territory on Friday amid worries over economic damage from the coronavirus outbreak and profit-booking in some of the recent outperformers.

The S&P BSE Sensex today slipped 164 points or 0.4 per cent to settle at 41,142, with NTPC (up over 3 per cent) being the top gainer and IndusInd Bank (down nearly 3 per cent) the biggest loser. 

Reliance Industries (RIL), HDFC, ICICI Bank and L&T contributed the most to the index's losses. 

The NSE's Nifty50 index ended at 12,086, down 51.55 points or 0.42 per cent. 

On a weekly basis, both Sensex and Nifty gained nearly 4 per cent each. 

Sectorally, realty stocks bled the most while media and pharma counters advanced the most. The Nifty Realty index fell around 2 per cent to Rs 320.55. On the other hand, Nifty Media climbed nearly 2 per cent to 1,823 points and the Nifty Pharma settled over 1 per cent higher at 8,335-mark.

In the broader market, the Nifty Midcap 100 index rose 0.57 per cent to 18,350 points while the Nifty SmallCap 100 ended flat at 6,236 levels, down 0.07 per cent. 

GLOBAL MARKETS 

Asian share markets fell on Friday and oil price gains stalled, as the growing death toll and economic damage from the coronavirus outbreak snuffed out a late-week rally. US stock futures and European futures point to soft openings in Friday.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.9 per cent. Japan’s Nikkei edged lower, while Korea’s Kospi, Hong Kong’s Hang Seng and the Shanghai Composite fell by between 0.5 per cent and 1.2 per cent.

Oil and metal prices fell hard as the coronavirus outbreak gained pace and have been slow to recover. US crude was firm on Friday at $51.02 per barrel, but is flat for the week and remains 14 per cent below its January 21 level. Brent prices were last at $55.14 per barrel.

(With inputs from Reuters)

3:37 PM

Sectoral trends on NSE at close

3:37 PM

Sensex heatmap at close

3:35 PM

Closing Bell

>> The S&P BSE Sensex settled 164.18 points, or 0.4 per cent, lower at 41,141.85, with only 12 of the 30 constituents closing in the green

>> On the NSE, the Nifty50 closed at 12,086.40-mark, down 51.55 points or 0.42 per cent.

3:22 PM

Welspun Corp soars 37% in 5 days on strong Q3 results; hits over 9-yr high

The stock of the construction & engineering company was trading at its highest level since December 2010. In the past five trading days, the stock soared 37 per cent, as against a 4 per cent rise in the S&P BSE Sensex. READ MORE

3:12 PM

MARKET CHECK | Top 5 gainers on the BSE at this hour

2:56 PM

MARKET CHECK

2:46 PM

NEWS ALERT | Fresh talks begin to review GST rate structure, reports CNBC-TV18

- GST rate regime now is not revenue neutral, it is revenue minus: CBIC Chairman to CNBC-TV18;
- Centre keen to continue 18% and 28% slab

2:43 PM

BROKERAGE RADAR | ICICI Securities on PNC Infratech

PNC remains our preferred pick in the EPC space given its robust orderbook and with execution starting in six of the seven HAM projects. With strong execution in 9MFY20 and operational performance expected to remain strong, the management has maintained its revenue growth guidance at 60% in FY20E. We expect revenue growth at 38.7% CAGR to Rs 5,959.5 crore in FY19-21E. Hence, we maintain our BUY rating on the stock with a revised SoTP target price of Rs 255/share. We value its construction business at Rs 228/share (at 7x FY21E EV/EBITDA implying 12.4x FY21 EPS).

2:31 PM

Lakshmi Vilas Bank up 10% on reports DBS, Capri Global to invest; bk denies

According to a Business Standard report, capital-starved private sector lender Lakshmi Vilas Bank may soon have a suitor willing to pump money into it. According to sources, top executives at the Chennai-based bank submitted a list of potential investors to the Reserve Bank of India (RBI) on Wednesday, added report.  READ MORE

2:25 PM

SC stays Bombay HC order to sell HDIL assets and repay PMC bank dues

A  bench comprising Chief Justice S A Bobe and justices B R Gavai and Surya Kant took note of the appeal of the Reserve Bank of India against the Bombay High Court order.

 

The top court also issued notice on RBI's plea to parties, including Sarosh Damania, who had approached the Bombay High Court for ensuring payment of dues to PMC Bank account holders. READ MORE

2:19 PM

Bonanza for shareholders! 60 BSE 500 firms can return Rs 88,600 cr: IiAS

There are 60 companies among the S&P BSE 500 group that can return Rs 88,600 crore of surplus cash in their balance-sheet to shareholders based on conservative estimates, which is just about one-third of their aggregate on-balance-sheet cash on March 31, 2019, reveals the latest study by governance firm Institutional Investor Advisory Services (IiAS). The estimates are based on numbers for financial year 2018-19 (FY19). READ MORE  

Photo: Shutterstock

2:09 PM

NEWS ALERT | Have completed 1.95 crore policies till January 31: LIC

>> Have covered 2.8 lakh lives under group business this year

2:09 PM

NEWS ALERT | Market share is on the rise; rose from 74% to 77%, says LIC

1:58 PM

STOCK ALERT:: Aavas Financiers slips 7% after 4.8% of total equity, or 3.8 million shares, change hands via block deals on the BSE

1:50 PM

Suzuki Q3 profit falls to lowest in 3 years, hit by slowing India demand

Suzuki Motor Corp reported on Friday an 11 per cent fall in third-quarter operating profit to its lowest in roughly three years as vehicles sales in Japan, Pakistan and Thailand slipped, while demand in India, its biggest market, stayed weak. Japan's fourth-largest automaker posted an operating profit of 51.8 billion yen ($471.34 million) for the October-December quarter, its lowest since the March 2016 quarter and down from 58 billion yen a year ago. READ MORE