MARKETS: Financials lift indices; Sensex up 282 pts, Nifty ends at 12,859

All that happened in the markets today

MARKET LIVE:Sensex,Nifty,today,covid-19,reliance,voda idea, gland pharma

Bajaj Finserv ended as the biggest gainer on Sensex - up over 9 per cent to Rs 8,536.50.

Buying in financial counters such as HDFC Bank, Bajaj Finance, and Bajaj Finserv helped benchmark indices settle over 0.6 per cent higher on Friday.

The S&P BSE Sensex ended at 43,882, up 282 points, or 0.65 per cent while NSE's Nifty ended at 12,859, up 87 points, or 0.68 per cent.

Bajaj Finserv ended as the biggest gainer on Sensex - up over 9 per cent to Rs 8,536.50 while Reliance Industries (down nearly 4 per cent) was the top loser. Of 30 constituents, 23 advanced and 7 declined.

On a weekly basis, Sensex gained 0.5 per cent while Nifty added 0.68 per cent.

In the broader market, the S&P BSE MidCap ended 1.22 per cent higher at 16,436.50 levels while the S&P BSE SmallCap index gained 0.77 per cent to 16,183 levels.

Global markets

World financial markets stalled on Friday as news US Treasury was ending emergency loans programmes dealt a blow to economic recovery hopes just as California announced curfews to try and fight surging coronavirus infections.

In Europe, stocks edged higher as gains in retail and oil shares offset worries about US politics and a stalemate over fresh stimulus measures to support a pandemic-stricken global economy.

In commodities, oil prices were little changed while gold prices were set for a second straight weekly fall as the metal’s appeal came under pressure from promising Covid-19 vaccine trials and news of the US Treasury ending emergency loan programs.

(With inputs from Reuters)

3:43 PM

Nifty IT gains 1.4%

3:42 PM

MARKET AT CLOSE | Gainers and losers on BSE Sensex

3:36 PM

CLOSING BELL

The S&P BSE Sensex ended 282 points, or 0.65 per cent higher at 43,882 levels while NSE's Nifty ended at 12,859, down 87 points, or 0.68 per cent.

3:29 PM

MARKET CHECK

3:18 PM

Vodafone Idea gains 9%

3:16 PM

BROKERAGE VIEW | Centrum Broking on LIC Housing Finance

RATING: BUY | TARGET PRICE: Rs 500

LICHF earnings were ahead of estimates mainly led by lower provisioning. NII at Rs12.3bn and loan growth at 5% YoY were largely in-line. Overall business saw a strong revival with disbursements surging QoQ though higher repayments is a tad concerning. NIM came in as expected at 2.37% and the funding cost advantage continues with LICHF seeing a ~70-80bps reduction in WACC owing its sovereign rating. Provisions were lower at Rs1.0bn and COVID related provisions stand at Rs1.94bn. Adjusted for the SC order, stage-3 assets would have been 3.0% (reported 2.8%). Collection efficiency has reached 96% and the balance 3-4% of loans could enter restructuring. Due to a shift in provisions from FY21 to FY22 we raise our FY21E RoE from 10.2% to 11.8%. Maintain multiple at 1.4x FY22 ABV with TP of Rs 500. BUY.

3:07 PM

Wockhardt, Jammu & Kashmir Bank, GE Power, DHFL locked in upper circuit

Wockhdart was locked in upper circuit of 20 per cent at Rs 393 on the BSE. The stock of pharmaceutical company was trading close to its 52-week high of Rs 412 touched in February 2020. The trading volume jumped over three-fold with a combined 6.3 million shares changing hands. There were pending buy orders for 250,000 shares on the BSE and NSE, exchange data show. READ MORE

2:59 PM

Ashok Leyland falls nearly 5%

2:49 PM

Pharma stocks slip in a strong market

2:40 PM

InterGlobe Aviation dips 2% on report Maharashtra govt may halt flight operations b/w Delhi and Mumbai

>> As per TV reports, Maharashtra govt is holding a meeting to discuss if flight ops between the cities need to be stopped in light of rising Covid-19 cases.

Alert: Delhi is seeing third wave of Covid-19 while Maha govt expects second wave in Maharashtra by January.

2:33 PM

Ratnamani Metals soars 31% in 8 days on winning orders worth Rs 140 crore

The company, on November 13, said that it has received a domestic order worth Rs 140 crore in carbon steel (CS) division for the supply of CS pipes for oil & gas sector. The order has to be executed between January, 2021 and May, 2021, it said. READ MORE

2:26 PM

BROKERAGE VIEW | Edelweiss Securities on BEL

RATING: BUY | TARGET PRICE: Rs 140

We perceive improving traction on bunching up of large value complex systems (surface-to-air missiles), apart from higher service/upgrade orders posing upside risk to FY21-23E orders. In our view, BEL seems more capable to surprise the Street with better return/growth led by targeted policy action and high degree of agility/fungibility in capabilities. Maintain ‘BUY’ given niche/better returns potential.

2:18 PM