MARKET WRAP: Sensex slips 248 pts, Nifty holds 11,850; IT, PSBs top drags

All that happened in the markets today

11:39 AM

NEWS ALERT | IDBI Bank invokes pledge on 4.2% equity of Coffee Day on November 19: CNBC TV18

11:29 AM

Gold's impressive performance in 2019 may spill into the new decade

Gold’s impressive advance in 2019 -- aided by trade war frictions, easier monetary policy across the world’s leading economies and sustained central-bank buying -- may be set to spill into the new decade. As 2020 looms, BlackRock Inc., the world’s largest money manager, remains constructive on bullion as a hedge, while Goldman Sachs Group Inc. and UBS Group AG see prices climbing to $1,600 an ounce -- a level last seen in 2013. READ MORE

11:28 AM

Crompton Consumer on a firm footing, led by growth in electrical appliances

Crompton Greaves Consumer Electricals, which had remained under pressure due to stake sale by private equity investors, has rebounded well and is up more than 12 per cent since August lows. The company’s prospects remain firm which is evident from the fact that majority of shares offloaded by private equity investors were picked up by mutual funds, point out analysts. READ MORE

11:17 AM

Market check

11:17 AM

Nifty slips below 11,900 level

11:14 AM

NEWS ALERT | Hyundai to hike prices across models from January: Cogencis

11:10 AM

YES Bank hits 6-week low ahead of board meet; stock falls 24% in eight days

Shares of YES Bank declined 5 per cent to hit a six-week low of Rs 53.40 on the BSE ahead of the board meeting slated for later today to finalize and approve the details of the preferential allotment. The stock of private sector lender was trading at its lowest level since October 29, 2019. In the past eight trading days, it has fallen 24 per cent, as compared to a 2 per cent decline in the S&P BSE Sensex. READ MORE

10:57 AM

NEWS ALERT | Nov Auto Sales Data : SIAM

-- A dip of 10.83% has been registered in the sales of Passenger Cars in November'19 as compared to November'18.

-- Motorcycle sales at 8.9 lakh units

 

-- Two-wheeler sales at 14.1 lakh units, down 14.27% 

 

-- Total vehicle exports at 14.1 lakh units, up 17.6% YoY

-- Commercial Vehicle sales down 14.98% YoY

-- Total exports of Commercial Vehicles down 29.03% YoY

 

10:56 AM

MARKET UPDATE:: Sensex extends fall, down over 100 pts now

10:55 AM

BUZZING STOCK:: HUL up 1%

10:48 AM

PC Jeweller hits all-time low as CRISIL downgrade ratings to default grade

Shares of PC Jeweller continued to trade under pressure and slipped 5 per cent to hit a fresh all-time low level of Rs 23.50 on the BSE on Tuesday after rating agency CRISIL downgraded its long-term and short-term ratings to the company's bank loan facilities to CRISIL D. The instruments with this rating are in default or are expected to be in default soon, as per the rating agency. READ MORE

10:40 AM

BROKERAGE RADAR | Motilal Oswal Financial Services on L&T

We cut our core E&C EPS estimate by 1.5%/3.4% for FY20/FY21, incorporating lower order inflow/revenue growth assumption. Consol. EPS has been cut by 1.3%/2.6% for FY20/FY21. We have also lowered our target P/E multiple on core business to 20x from 22x on account of macro uncertainties. Accounting for the current market price of listed subsidiaries, our TP stands at Rs 1,680 (prior: Rs 1,830). Adjusted for the valuation of subsidiaries, the stock trades at FY20/FY21E P/E multiple of 19x/15.6x v/s its long-term trading average P/E multiple of 23x. Maintain Buy.

10:29 AM

New India Assurance, GIC rally up to 8% as govt may raise FDI limit to 74%

Shares of life insurance companies including HDFC Life Insurance, SBI Life Insurance, and ICICI Prudential Life Insurance were trading higher on Tuesday on report that the government may propose to raise foreign direct investment (FDI) limit in the sector to 74 per cent from 49 per cent currently in the Union Budget for 2020-21. READ MORE

10:20 AM

Most active stocks by volume

COMPANY	PRICE(rs)	CHG(rs)	CHG(%)	VOLUME
VODAFONE IDEA	6.64	0.15	2.31	9574019
YES BANK	55.85	-0.35	-0.62	3303212
REL. COMM.	0.95	-0.05	-5.00	2023546
DISH TV	13.34	-0.26	-1.91	1427059
SUZLON ENERGY	2.16	-0.05	-2.26	939229

10:08 AM

IT stocks slip; TCS, Wipro fall over 1% as rupee hits one-month high

Shares of information technology (IT) services were trading in the red in the early trade on Tuesday as the rupee hit around one month-high against the US dollar. The domestic currency opened at 70.96 against Monday's close of 71.04. At 09:51 am, the Nifty IT index was trading over a per cent lower at 14,977 levels with all the 10 constituents in the negative territory. READ MORE