MARKET WRAP: Sensex dips 127 pts, Nifty below 12,000; PSBs, metals decline

All that happened in the markets today

9:17 AM

Top gainers and losers on S&P BSE Sensex during Opening trade

9:16 AM

Market at Open

9:08 AM

Momentum picks by ICICI Securities

9:02 AM

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

9:02 AM

Market at Pre-open

9:01 AM

Rupee opening

Rupee opens lower at 71.70/$ vs Monday's close of 71.65 against the US dollar

9:01 AM

Market at Pre-open

8:57 AM

Getting into global debt, equity indices can fetch us $100 bn: Nilesh Shah

Nilesh Shah, noted fund manager and a part-time member of the Economic Advisory Council to the Prime Minister, on Monday said the country cannot achieve its growth ambitions without foreign inflows and pitched for joining global bond indices to attract more funds.
 

Citing the case of China, which recently joined a few global indices, Shah said we can attract up to $100 billion through such a move. READ MORE

Nilesh Shah, MD, Kotak Mutual Funds

8:51 AM

Build portfolios, stay the course in hard times, advise top fund managers

India has been one of the few markets in which actively-managed equity schemes did overwhelming better than their benchmarks. However, this trend has been challenged in the past two years, with over three out of four active schemes failing to generate the so-called alpha. 

The underperformance of the broader market and move to total return index too have weighed on active scheme performance. READ MORE

8:44 AM

Stocks to watch: YES Bank, Biocon, RBL Bank, Bharti Airtel, Voda Idea, Gati

Here's a list of stocks that may remain in focus today -

 

YES Bank: US-based Capital International has committed to invest at least $120 million in YES Bank with the possibility of raising that in the future, according to a report by The Economic Times.

 

Bharti Airtel, Vodafone Idea: Telecom stocks are expected to trade actively as the proposed tariff hike plan will come into effect from today. Bharti Airtel and Vodafone Idea on Sunday announced a tariff hike in the range of 15 per cent and 40 per cent across different plans. Reliance Jio has also said it would be introducing new plans with unlimited voice and data which would be effective from December 6. READ MORE

8:40 AM

BROKERAGE RADAR :: Motilal Oswal Financial Services on Bajaj Auto

CMP: Rs 3,160 | TP: Rs 3,169 | Neutral

Rationale: Bajaj Auto’s sales were flat YoY at ~403k units (in-line) in Nov’19.

>> Domestic volumes declined ~12% YoY to 208k units (in-line), while exports increased ~14% YoY to ~195k units (our estimate: 184k).
 

>> 2W volumes were flat YoY at 343.4k units. Domestic motorcycle dispatched declined ~14% to 176.3k units, while motorcycle increased ~18% YoY to 167.1k units.

>>3W volumes were flat YoY at ~59.8k units, with domestic volumes up 6.4% at 31.4k units, but exports down 8.1% YoY at 28.3k units.

>> The stock trades at 17.6x/16.6x FY20/21E consol. EPS. Maintain Neutral

8:37 AM

BROKERAGE RADAR :: Motilal Oswal Financial Services on SBI

CMP: Rs 339 | TP: Rs 425 (+26%) | Buy

SBIN has demonstrated a strong improvement in slippage trajectory and prudently improved PCR over the past two years. The bank has one of the lowest net stressed assets amongst corporate banks which will drive a sharp decline in credit cost to 1.3% by FY21. Also, NCLT write-backs and subs monetization will further boost earnings. At CMP, subs accounts for ~34% of total valuation, while the bank trades at a discount of 24% to its six-year average (1.2x ABV). We estimate RoA/RoE to improve to 0.8%/14.1% by FY21 though quarterly earnings may still remain volatile. SBIN remains our top investment idea. Maintain Buy with a revised target price of INR425 (1.3x FY21E ABV + INR114 per share for subs).

8:32 AM

NEWS ALERT | Capital Group likely US Fund that offered $120 million to YES Bank: sources to CNBC TV18

-- YES Bank's new capital target could reach $2 billion

-- Bank awaiting final nod from Capital Group

-- Bank to announce top tier US Fund name soon

Alert: YES Bank needs RBI's approval for recapitalisation

8:28 AM

NEWS ALERT | Crompton Consumer promoter looks to sell 7.2-8.8% via block deal: sources to CNBC TV18

-- The floor price is at Rs 240/Sh

-- Floor price set at 4.8% discount to the Crompton Consumer CMP

8:26 AM

Top stock recommendations from Anand Rathi: Buy Pidilite, ICICI Lombard

NIFTY: BUY | TGT: 12,150 | SL: 11,950

 

Nifty closed in the negative territory for the second consecutive day, however, it managed to close above 12,000 levels, which is a positive in the short term. The momentum indicator MACD is well in the sell mode with a negative divergence which is a concern in the short term. However, since the price has not confirmed the reversal from up to down, we continue to maintain our short-term bias up for the target of 12,150 with a stop loss of 11,950. READ MORE