MARKET WRAP: Sensex up 192 pts, Nifty ends at 10,962 led by RIL, Sun Pharma

The Nifty Pharma index was the top gainer, rising 0.52 per cent higher led by Sun Pharmaceutical Industries and Biocon. The Nifty IT index, too, rose 0.49 per cent higher led by Infosys and NIIT Tech

The benchmark indices settled 0.5 per cent higher on Monday led by market heavyweights Reliance Industries, Sun Pharma and select information technology (IT) and private bank stocks.

The S&P BSE Sensex ended at 36,579, up 192 points or 0.53 per cent, while the broader Nifty50 index settled at 10,962, up 55 points or 0.50 per cent.

Among sectoral indices, the Nifty Pharma index was the top gainer, rising 0.52 per cent higher led by Sun Pharmaceutical Industries and Biocon. The Nifty IT index, too, rose 0.49 per cent led by Infosys and NIIT Technologies.

In the broader market, S&P BSE MidCap index slipped 84 points or 0.56 per cent to settle at 14,939, while S&P BSE SmallCap index ended at 14,402, down 102 points or 0.70 per cent.

Buzzing Stocks

Shares of Reliance Industries (RIL) rose 4.36 per cent to end the day at Rs 1,234.50 apiece on Monday. The stock gained nine per cent in the past two trading days on BSE, after the company reported a better-than-expected consolidated net profit of Rs 10,251 crore in October-December quarter (Q3FY19). The company had logged profit of Rs 9,420 crore in the year-ago quarter.

Shares of Sun Pharmaceutical Industries gained 1.94 per cent to settle at Rs 398.35 apiece on the BSE on Monday, after the pharmaceutical firm urged markets regulator Sebi to examine the role of some media houses with respect to the reports of fresh whistleblower complaints.

Global Markets

Asian markets kept their nerve on Monday as data showed the Chinese economy slowed at the end of last year, underlining the urgent need for more stimulus as Beijing wrestles with the United States over trade.

Markets reacted calmly, with MSCI’s broadest index of Asia-Pacific shares outside Japan up 0.2 per cent, after rising 1.6 per cent last week. Chinese blue chips gained 0.7 per cent. Japan's Nikkei added 0.3 per cent, helped by a recent pullback in the yen.

(with Reuters input)

3:39 PM

Top sectoral gainers and losers on NSE

3:38 PM

S&P BSE Sensex: Top gainers and losers

3:33 PM

Market at close

The S&P BSE Sensex ended at 36,579, up 192 points or 0.53 per cent, while the broader Nifty50 index settled at 10,962, up 55 points or 0.50 per cent.

3:20 PM

Reliance Industries gains 9% in two days post December quarter results

Shares of Reliance Industries (RIL) were quoting higher by 4.4 per cent at Rs 1,237 apiece at the fag-end of the trading session on Monday , gaining nine per cent in the past two trading days on BSE, after the company reported a better-than-expected consolidated net profit of Rs 10,251 crore in October-December quarter (Q3FY19). The company had logged profit of Rs 9,420 crore in the year-ago quarter. READ MORE

3:14 PM

Union Bank declines 5% post Q3 results announcement

Shares of Union Bank plunged as much as 5 per cent in the intra-day deals on Monday after the lender reported net profit of Rs 153.2 crore for October-December quarter of FY19. The bank had posted loss of Rs 1,250 crore in the year-ago period.

 

Percentage wise, net NPAs came in at 8.27 per cent against 8.42 per cent in the September quarter. In the year-ago quarter, numbers stood at 6.96 per cent. Net interest income (NII) fell 2.1 per cent YoY. READ MORE

3:09 PM

NEWS ALERT Hind Zinc Q3FY19 net profit at Rs 2,211 crores vs Rs 2,298 in Q3FY18

2:57 PM

Top gainers on BSE500

COMPANY	PRICE( )	CHG( )	CHG(%)	VOLUME
SPARC	168.15	19.75	13.31	1307057
ITI	111.80	7.40	7.09	854733
TAKE SOLUTIONS	162.95	8.40	5.44	54518
TIME TECHNOPLAST	106.00	5.30	5.26	56458
UNITED BREWERIES	1479.25	66.00	4.67	40201

2:49 PM

LIC completes the acquisition of 51% controlling stake in IDBI Bank

IDBI Bank Monday said insurance behemoth LIC has completed acquisition of 51 per cent controlling stake in the bank, making it the lender's majority shareholder.

"The deal, conceptualised in June 2018, is envisaged as a win-win situation for both IDBI Bank and LIC with an opportunity to create enormous value for shareholders, customers & employees of both entities through mutual synergies," IDBI Bank said in a BSE filing. Read more

 

2:36 PM

Earnings Impact

2:31 PM

NEWS ALERT | Union Bank reports net profit at Rs 153.2 cr vs Rs 139.03 cr on QoQ

2:27 PM

Goldman Sachs expects RBI to cut rates by a quarter percentage point in Feb

Goldman Sachs Group Inc. expects India’s central bank to cut interest rates by a quarter percentage point in February, the latest to add its voice to a chorus of calls for monetary policy easing. The Wall Street bank said lower inflation projections, and expectations of a slower pace of U.S. policy rate hikes prompted it to shift its call from a previous forecast of no change in February. Read more

A view of the Goldman Sachs stall on the floor of the New York Stock Exchange in New York (Photo: Reuters)

2:16 PM

Top gainers and losers on S&P BSE Sensex

2:00 PM

Market check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	36,640.11	+253.50	+0.70
S&P BSE SENSEX 50	11,474.70	+66.64	+0.58
S&P BSE SENSEX Next 50	32,415.72	+32.10	+0.10
S&P BSE 100	11,223.30	+57.64	+0.52
S&P BSE Bharat 22 Index	3,422.51	-9.54	-0.28

1:51 PM

Oil check

Crude prices rose to their highest so far in 2019 on Monday after data showed refinery processing in China, the world's second-largest oil consumer, climbed to a record last year despite a slowing economy.

International Brent crude oil futures were at $62.77 per barrel, up 7 cents, or 0.1 per cent, from their last close. Brent earlier rose above $63 for the first time in 2019. US West Texas Intermediate (WTI) crude futures were at $53.92 a barrel, up 12 cents, or 0.2 per cent. WTI earlier advanced above $54 a barrel for the first time this year. READ MORE

1:36 PM

ICICI Securities hits new low; falls 19% in one week on weak Q3 results

Shares of ICICI Securities were trading under pressure for the fifth straight trading session, hitting a new low of Rs 223, down 2 per cent on BSE, after the company reported a weak set of numbers for December quarter (Q3FY19). The stock of a part of the ICICI Group and a leading investment services firm in India was trading at its lowest level since listing on April 4, 2018. READ MORE