MARKET WRAP: Benchmarks end flat, Sensex up 42 pts; realty, IT stocks slip

All that happened in the markets today

Equity markets ended a volatile trading session in the positive territory on Monday supported by buying in blue-chip stocks such as HDFC, Reliance Industries, Maruti Suzuki India, and Axis Bank. The benchmark S&P BSE Sensex settled 42.28 points, or 0.1 per cent, higher at 40,487.43 level. Axis Bank (up over 2 per cent) topped the 30-share index as the top gainer, while TCS (down 3 per cent) was the top loser.

On the NSE, the Nifty50 settled at 11,937.50-mark, up 16 points, or 0.13 per cent. 

Sectoral indices ended the session mixed on the NSE. At close, Nifty Realty Index closed with a cut of 1.15 per cent, while Nifty Auto index closed 0.73 per cent higher.

In the broader market, the S&P mid-cap index settled 0.09 per cent higher at 14,680.92, while the S&P NSE small-cap index slipped 0.48 per cent to 13,275.41.

BUZZING STOCKS

Shares of Century Textiles & Industries hit a fresh 52-week high of Rs 515, up 5 per cent on Monday, having surged 9 per cent in the past two trading days, in an otherwise range-bound market on the BSE on expectation of a healthy financial performance going forward. READ MORE

Shares of automobile companies gained on Monday after Maruti Suzuki India (MSI) increased its production in November. At 10:30 AM, the S&P BSE Auto index climbed 1.5 per cent as compared to a flat benchmark S&P BSE Sensex and was the top gainer among BSE sectoral indices. READ MORE

GLOBAL CUES

Asian stocks edged up on Monday, catching some of Wall Street’s momentum after surprisingly strong US.jobs data, although regional gains were capped by concerns about China’s economic slowdown due to the prolonged Sino-US trade war.

Japan’s benchmark Nikkei added 0.33 per cent while MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.27 per cent. China’s Shanghai Composite stood flat and so did Hong Kong’s Hang Seng.

European shares are expected to give up some of the gains made on Friday after the U.S. payrolls data, with pan-European Euro Stoxx 50 futures down 0.14 per cent, German DAX futures slipping 0.04 per cent and FTSE futures losing 0.35 per cent.

(With inputs from Reuters)

3:42 PM

Sectoral trends at NSE at close

3:41 PM

Sensex heatmap at close

3:41 PM

Closing Bell

The benchmark S&P BSE Sensex settled 42.28 points, or 0.1 per cent, higher at 40,487.43 level. Axis Bank (up over 2 per cent) topped the 30-share index as the top gainer, while TCS (down 3 per cent) was the top loser.

On the NSE, the Nifty50 settled at 11,936.95-mark, up 15.45 points, or 0.13 per cent. 

3:23 PM

Indigo Paint's IPO may fetch 3.5x returns for Sequoia in partial exit

Indigo Paints' proposed IPO next year is expected to give 3-3.5-fold returns to private equity investor Sequoia. The company's proposed Rs 1,000 crore plan would partially support capex spending of Rs 100 crore every year.

 

The company has hired an investment bank for the proposed IPO and aims to achieve Rs 3,000 crore in revenue in the next five years. It did not reveal the name of the investment bank. READ MORE

3:10 PM

Prestige Estate Projects dips 5%

2:55 PM

NEWS ALERT | Jagran Prakashan board approves share buyback for up to Rs 101.2 cr: BSE filing

-- Buyback at max Rs 75/share

2:52 PM

Shakti Pumps hits 52-week low as CARE downgrades bank facilities

Shares of Shakti Pumps (India) (SPIL) hit a 52-week low of Rs 202, down 2 per cent on Monday, having declined 5 per cent in the past two trading days, on the BSE after Care Ratings downgraded the long-term rating of the bank facilities of the company with a negative outlook. The stock has fallen below its previous low of Rs 203 touched on November 18, 2019. READ MORE

2:41 PM

NEWS ALERT | HDFC AMC trading lower for fourth straight day, down 5% on BSE

- Slips 12% in four days on share sale by promtoer.

2:38 PM

BSE500 stocks that hit 52-week high today

COMPANY	PRICE(rs)	52 WK HIGH	CHG(rs)	CHG(%)
ADANI TRANSMISSI	331.50	344.45	12.75	4.00
COROMANDEL INTER	510.05	527.85	14.45	2.92
GUJARAT GAS	230.00	231.65	2.65	1.17
ICICI SEC	358.60	364.60	3.55	1.00
SRF	3256.05	3285.25	30.70	0.95

2:28 PM

Global Markets check

Asian stocks edged up on Monday, catching some of Wall Street’s momentum after surprisingly strong US jobs data although regional gains were capped by concerns about China’s economy due to the prolonged Sino-US trade war.

Japan’s benchmark Nikkei advanced 0.3 per cent while MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.3 per cent, with Australian stocks and South Korea’s Kospi up 0.2 per cent and 0.6 per cent, respectively.

Oil prices retreated but hovered near recent peaks after OPEC and its allies agreed to deepen output cuts by 500,000 barrels per day in early 2020.

 

U.S. West Texas Intermediate (WTI) crude slipped 0.4 per cent to $58.94 per barrel, still not far from Friday’s 2 1/2-month high of $59.85 per barrel.

(Reuters)

2:22 PM

NEWS ALERT | YES Bank poised to reject $1.2 bn offer from Canada's Braich: Bloomberg

-- YES Bank likely in talks with Institutions to make up for shortfall

2:19 PM

India's real GDP growth in FY20 to come slightly below 5%: IHS Markit

India's real GDP growth in 2019-20 fiscal is expected to be slightly below 5 per cent as the impact of stimulus measures will take time to filter through to the economy, IHS Markit has said. Latest GDP data for July-September quarter showed a significant further moderation in the pace of economic growth to 4.5 per cent, the weakest in six years with a key contributory factor being a slump in manufacturing output. READ MORE

2:17 PM

BROKERAGE RADAR | Gati acquisition would heighten risk profile of Allcargo Logistics: ICICI Securities

The acquisition multiples (14.3x EV/EBITDA based on FY19 and 17x based on H1FY20 EBITDA runrate) look inexpensive. The B2B express business under Gati KWE JV (70% stake), remains the key acquisition logic. AGLL management believes that given AGLL’s existing business presence and foray into multimodal logistic parks, Gati’s express portfolio can be a key catalyst. Muted topline growth of ~5% over the past two years and declining margins have ailed Gati’s express business and reflects in RoE/RoCE profile of Gati KWE JV as well as that of the consolidated entity -- which AGLL believes it can reverse. The post-acquisition leverage profile for AGLL worries us. Downgrade to HOLD with a revised target of Rs 97/share (earlier: Rs 131).

2:03 PM

An era of central bank shocks has left few options for next downturn

The era of central bank shock and awe is over.

 

More than ten years of crisis fighting -- including this year’s rush to support global growth -- have left policy makers in key economies facing a new decade with few good options to fight the next downturn.

 

Interest rates are either already around historic lows or negative after more than 750 cuts since 2008, spurring concerns they are doing more harm than good. READ MORE

1:53 PM

Sudden fall in Sensex