MARKET WRAP: Sensex tanks over 450 pts amid global sell-off; metals tumble

All that happened in the markets today

11:29 AM

HDFC dips 1% ahead of Q3 nos; analysts eye 20% YoY loan growth, weak NIM

Analysts expect the non-banking finance company (NBFC) to report healthy loan growth amid weak net interest income and weak margins.
 

“We expect HDFC’s loan growth to remain healthy at nearly 19 per cent, backed by strong demand in the affordable segment… NIMs, however, will be under pressure on external benchmark linkage,” said analysts at Emkay Global Securities. READ MORE

11:14 AM

UltraTech Cement extends gain post Q3 results; stock hits over 7-month high

Shares of UltraTech Cement climbed 2 per cent to Rs 4,753 on the BSE on Monday in an otherwise weak market as most of the analysts maintained ‘buy’ rating on the stock, citing improving demand scenario which would lead to sustained volume growth for the company. The stock was trading higher for the third straight day and at its highest level since June 4, 2019. READ MORE

 

11:09 AM

BUZZING STOCK:: Godrej Agrovet up 5%

10:59 AM

Play safe with PSU stocks ahead of Budget despite divestment trigger

Shares of most Central Public Sector Enterprises (CPSEs) have remained under pressure thus far in the financial year 2019-2020 (FY20) with the Nifty CPSE index slipping 20 per cent. In comparison, the benchmark Nifty 50 index has gained 5 per cent during the period. The index’s underperformance, analysts say, has been on account of likely delays in stake sale by the government in select public sector undertakings (PSUs). READ MORE

10:45 AM

Metal shares decline as coronavirus fears intensify; JSW Steel falls 5%

Shares of metal companies were under pressure on Monday with the Nifty Metal index falling more than 2 per cent as investors grew increasingly anxious about the economic impact of China's spreading virus outbreak. At 09:59 am, Nifty Metal index, the top loser among sectoral indices, was down 2.2 per cent at 2,734 points, as compared to 0.5 per cent decline in the benchmark Nifty 50 index. READ MORE

10:38 AM

MARKET UPDATE:: Broader indices outperform; India VIX up 6%

10:37 AM

Buzzing | Aurobindo Pharma trades 3% higher

10:27 AM

Weak demand and slowing economy now cast their shadow on private banks

The heat of weak consumer demand and a slowing economy, which has engulfed sectors like consumer goods, automobile, and real estate, has cast its shadow on private banks, too. In terms of deceleration in loan growth, as well as asset quality, the impact of the slowdown is clearly visible in the December 2019 quarter (Q3) results of private banks, making investors cautious. READ MORE

10:14 AM

Market check | Indices partially erase losses

9:59 AM

NEWS ALERT | Budget 2020 could focus on increasing domestic production rather than imports: TV reports

9:58 AM

Slowdown may offer buying opportunities

Global markets responded positively to the buyout of Uber Eats’ India business by Zomato. The Uber stock rose by 7 per cent after the all-stock deal, which valued the India business at around $350 million. This indicated that a drag on the global company was being removed. READ MORE

9:50 AM

Tata Steel declines 3%

9:47 AM

Ultratech Cement trades higher in early trade

9:44 AM

APL Apollo Tubes surges 9%, hits 52-week high on strong Q3 results

Shares of APL Apollo Tubes surged 9 per cent to Rs 2,213 on the BSE on Monday after reporting a strong performance in the December quarter during which its consolidated net profit zoomed over 6-fold to Rs 83.2 crore from Rs 12.9 crore in the year-ago quarter. The stock of the country’s leading branded steel tubes manufacturer was trading at its 52-week high level on the BSE. READ MORE

9:37 AM

Nifty Metal index slips on coronavirus troubles in Chinese market