MARKET WRAP: Indices rebound, Sensex ends 186 pts up; Nifty reclaims 10,900

The broader Nifty50 index of National Stock Exchange (NSE) reclaimed the crucial 10,900 level to settle at 10,910, up 48 points or 0.44 per cent.

Erasing all its losses, the domestic equity market ended with decent gains on the first trading day of 2019. Aided by buying in heavyweights such as HDFC Bank,  HDFC, Infosys and ICICI Bank, the S&P BSE Sensex gained 186 points or 0.52 per cent to settle at 36,255. During the day, the benchmark index hit an intraday high and low of 36,284.04 and 35,888.62, respectively. 

The NSE's Nifty50 index reclaimed the crucial 10,900 level to settle at 10,910, up 48 points or 0.44 per cent. Out of 50 components, 32 ended in the green and rest 18 in the red. 

In the broader markets, the S&P BSE MidCap index closed flat at 15,426, down just 12 points. However, the S&P BSE SmallCap index ended 60 points higher at 14,767 levels.

Among the sectoral indices, the Nifty PSU Bank index gained over one and half per cent led by Bank of Baroda and Punjab National Bank. The Nifty Realty index, too, surged over 2 per cent led Prestige Estates Projects and Oberoi Realty.

INDIVIDUAL STOCKS

Shares of public sector undertaking (PSU) banks gained for the third straight day on hopes of receding bad loans problem. Bank of Baroda (up 4%), Bank of India (up 2%), Oriental Bank of Commerce (up 2%), Punjab National Bank (up 2%) and Union Bank of India (up 3%) hit their respective three-month highs today.

Auto major Mahindra & Mahindra (M&M) ended 4 per cent lower at Rs 773 apiece after reporting disappointing sales numbers for December 2018 due to tight liquidity and low buying sentiment.

Atul Auto hit an upper circuit limit of 20 per cent at Rs 348.20 after the company posted a strong 50 per cent growth in sales numbers for December 2018. The three-wheeler manufacturer sold 4,332 units in December against 2,890 units in the same month last year. The company’s total vehicle sales during December quarter grew 39 per cent at 13,808 units, as compared to 9,922 units sold in the previous year quarter. 

On the global front, most Asian markets were shut today on account of New Year.

3:37 PM

Sectoral gainers and losers of the day on NSE

3:35 PM

Gainers and losers on BSE Sensex

3:32 PM

Market at close

 

The S&P BSE Sensex ended at 36,255, up 186 points or 0.52 per cent, while the broader Nifty50 index settled at 10,910, up 48 points or 0.44 per cent.

3:19 PM

PSU banks extend gains; BoB, BoI, PNB hit 3-month highs

 

Bank of Baroda (up 3% at Rs 123), Bank of India (2% at Rs 106), Oriental Bank of Commerce (2% Rs 97.35), Punjab National Bank (2% at Rs 79.65) and Union Bank of India (2% at Rs 87.70) have hit their respective three-month highs today. READ MORE

2:58 PM

About 75% diversified equity schemes trail benchmark index: Study

Fund managers faced a tough time beating the benchmark in 2018, with nearly three in four diversified equity schemes underperforming their respective underlying indices. A study of 235 equity schemes that includes direct plans shows that 168, or 71 per cent, have underperformed their respective benchmarks, observed Value Research. Market observers have attributed this to large sums chasing too few stocks, and the impact of regulatory changes such as categorisation of schemes as well as the introduction of total returns index, in lieu of a simple price index. Read more

 

2:53 PM

Top gainers on BSE500

COMPANY	PRICE()	CHG()	CHG(%)	VOLUME
UCO BANK	22.30	2.05	10.12	823875
DENA BANK	17.95	0.85	4.97	422464
PRESTIGE ESTATES	229.60	10.25	4.67	36302
QUESS CORP	688.85	30.55	4.64	7760
JAI CORP	116.35	5.00	4.49	392005

2:45 PM

Geopolitical risks, Lok Sabha polls to keep markets edgy in 2019: Experts

Despite a bumpy ride, the Indian stock market held up rather well in 2018, compared to some of its global peers that slipped into bear territory. However, experts caution that the road ahead may not be smooth. The immediate trigger for volatility: the upcoming national elections, and the noise surrounding it. Sharp swings are likely if the final outcome veers too far off Street expectations. That said, there has been no visible change in market direction at the time of the last six general elections, say market observers, and this time may be no different. Click here to read full article

 

2:29 PM

Mahindra & Mahindra falls 4% on disappointing December sales

Shares of Mahindra & Mahindra (M&M) dipped 4 per cent to Rs 772 apiece, falling 5 per cent from intra-day high on BSE, after reporting disappointing sales numbers for December 2018 due to tight liquidity and low buying sentiment. The company said it has sold 17,404 units of tractors in December, down 6 per cent as compared to 18,488 units sold in the same month last year. Domestic tractor sales were down 2 per cent year-on-year (YoY) to 16,210 units, while exports sales almost halved to 894 units in the month of December against 1,633 units in the previous year. Read more

 

2:13 PM

Gateway Distriparks hits 52-week low after failing to pay Blackstone

Shares of Gateway Distriparks (GDL) hit a 52-week low of Rs 123 apiece, down 5% on BSE, after the company said it has failed to pay the balance payment to global private equity major Blackstone. “Due to un-contemplated events arising in the debt market, GDL could not raise the required funds before the due date of 28 December 2018 to make the balance payment of Rs 560 crore plus compensation at15% per annum from 28 September 2018 to 28 December 2018,” the company said in a regulatory filing. Read more

 

2:00 PM

Market check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	35,968.15	-100.18	-0.28
S&P BSE SENSEX 50	11,331.20	-36.23	-0.32
S&P BSE SENSEX Next 50	32,851.53	-143.68	-0.44
S&P BSE 100	11,123.63	-37.39	-0.34
S&P BSE Bharat 22 Index	3,489.96	-6.68	-0.19

1:49 PM

Mahindra’s auto sector sells 39,755 vehicles during December 2018

1:42 PM

HDFC Securities on Asset Management Companies

 

Lastly, despite 44.7% YTD decline in equity inflows from the cyclical highs of FY18 (net equity inflows of Rs 2.6tn,+154% YoY), SIP inflows have continued at an average monthly pace of Rs 76 billion. Recent market uncertainties (global and local) have hit stock prices. We believe CMPs provide attractive entry points for investors.

1:21 PM

Volume toppers on Sensex

1:04 PM

As many as 23 stocks hit 52-week low in today's trade

Symbol	Security	New 52W/L	Prev. Low	Prev. Low Date	LTP	Prev. Close	Chng	% Chng
ANGIND	ANG Industries Limited	1.25	1.25	28-Dec-2018	1.35	1.30	0.05	3.85
CALSOFT	California Software Company Limited	22.00	22.80	31-Dec-2018	22.85	22.80	0.05	0.22
CHROMATIC	Chromatic India Limited	0.95	0.95	31-Dec-2018	1.00	1.00	0.00	0.00
CURATECH	Cura Technologies Limited	1.25	1.30	31-Dec-2018	1.25	1.30	-0.05	-3.85
GEMINI	Gemini Communication Limited	0.15	0.15	31-Dec-2018	0.20	.20	0.00	0.00
HINDCOMPOS	Hindustan Composites Limited	287.00	294.00	31-Dec-2018	288.00	296.60	-8.60	-2.90

Clock here to view full list

(Source: NSE)

12:47 PM

Top gainers and losers on S&P BSE Sensex