MARKET WRAP: Sensex gains 582 pts, Nifty ends at 11,787; Tata Motors up 16%

All that happened in markets today.

9:05 AM

Top gainers and losers on S&P BSE Sensex during Pre-open

9:04 AM

Market at Pre-open

9:04 AM

Market at Pre-open

9:03 AM

Rupee Opening Alert

-- Rupee opens higher at 70.72/$ vs Friday's close of Rs 70.88/$

-- Trades at 1-month high

8:59 AM

NEWS ALERT | Adani Enterprises partners with US-based digital Realty for digital solutions: BSE filing

-- Partners with San Fransisco-based co to jointly evaluate developing & operating data centers, data center parks & cultivating undersea cable provider communities of interest across India

8:58 AM

Oil falls on weak Chinese data, forecasts for US crude stocks build

Oil prices fell on Monday after four days of gains as expectations US crude stockpiles will rise and worries about weak Chinese industrial data offset hopes oil demand will increase if talks progress on a Sino-American trade deal.

 

Brent futures fell 45 cents, or 0.7%, to $61.57 a barrel, while US West Texas Intermediate (WTI) crude fell 85 cents, or 1.5%, to $55.81. READ MORE

8:55 AM

NEWS ALERT | BSE & JV partner Ebix to act as direct insurance broker under IRDA post nod: CNBC TV18

8:52 AM

Gold rush ahead? Price may surge to Rs 42,000 by Dec-end, say analysts

Geo-political uncertainties, sustained central bank buying and the rupee’s weakness against US dollar will keep gold under pressure and are likely to push the prices up to Rs 42,000 per 10 grams level by the end this year, according to analysts.

 

"Geo-political uncertainties emerging from the Middle East may continue to underpin gold prices going ahead to $1,650 an ounce in Comex markets and Rs 42,000 in MCX," Commtrendz Research co-founder and CEO Gnansekar Thiagarajan told PTI here. READ MORE

8:48 AM

Whistleblower case: Infosys writes to clients as allegations reveal dissent

Infosys has written to clients, apprising them of the developing situation on whistle-blower allegations and subsequent investigations by the company and regulators, said sources in the company.

 

Analysts said the relationship of the Bengaluru-headquartered information technology (IT) major with its clients was unlikely to be affected by the recent developments, but the complaints of the whistle-blowers reflected internal dissent in the company. READ MORE

8:41 AM

NEWS ALERT | Bharti Airtel defers Q2FY20 results to Nov 14: BSE filing

-- Co says, need more clarity on AGR verdict

-- The Company is approaching DoT to seek clarity on the total amounts involved and request for their support to deal with this adverse outcome

8:34 AM

AGR verdict: Telcos' broadband strength likely to be hit, say analysts

Last week’s Supreme Court (SC) verdict on adjusted gross revenue (AGR) of telcos can have a larger impact on the broadband network strength of operators, noted analysts, saying the payment will impact their ability to spend on tower tenancy. As of last week, the SC gave telecom companies three months to comply with its order, upholding the government’s definition of AGR and asked them to file a compliance report after depositing the money. READ MORE

8:29 AM

Govt likely to reject telcos' demand for 2-year spectrum fee moratorium

The finance ministry is likely to reject a telecom industry demand for a two-year moratorium on payment for spectrum bought in previous auctions, according to an official in the know. This would come as a double whammy for telcos reeling from severe financial stress.

 

Recently, in an unrelated development, the Supreme Court had upheld the government’s definition of adjusted gross revenue (AGR) and directed telecom operators to pay up the pending licence fee and other charges that could add up to an estimated Rs 1.33 trillion. READ MORE

8:24 AM

FIIs trim their holdings in 12 private banks in second quarter of FY20

Foreign institutional investors (FIIs) have trimmed their holdings in 12 private banks in the September quarter amid concerns over a build-up of stress in mid-sized companies and small and medium enterprises (SMEs).

 

Within the BSE-500 universe, mid-sized private banks are the ones to see deeper cuts in FII stakes. For instance, Karnataka Bank saw its FII stake reduced by 167 basis points (bps) to 13.7 per cent in the September quarter from 15.37 per cent in the June quarter. READ MORE

8:20 AM

Samvat 2076 top picks: In tough times, investors are seeking quality

Investors seem to have little to complain about Samvat 2075, as it ended with double-digit returns compared to a mid-single digit performance in the previous Hindu calendar year. However, the better show by leading benchmarks Sensex and Nifty masks the pain in sectoral indices, as well as in the small- and mid-cap companies, which registered their second straight year of negative returns. READ MORE

8:17 AM

Market performance in Samvat 2075 was unsatisfactory: Motilal Oswal

Market performance in Samvat 2075 wasn’t satisfactory; the broader market participation was missing, says MOTILAL OSWAL, managing director and chief executive officer of Motilal Oswal Financial Services. In conversation with Sundar Sethuraman, Oswal says market gains will be capped until there is economic recovery. READ FULL INTERVIEW HERE

MOTILAL OSWAL, managing director and chief executive officer of Motilal Oswal Financial Services