MARKET WRAP: Sensex rises 307 pts led by HDFC twins, RIL; BEML jumps 8%
The Nifty Metal index settled 2 per cent higher led by Hindustan Copper, Jindal Steel & Power and Vedanta.
 "SMEs, banks, foreign exchange, markets, forex, small and medium price industries,")
SMEs at large do not understand forex and the concept of hedging, which banks often exploit. (Photo: iStock)
The benchmark equity indices ended nearly 1 per cent higher on Monday led by a rise in metals and fast-moving consumer goods (FMCG) stocks.
The S&P BSE Sensex ended at 36,270, up 307 points or 0.9 per cent, while the broader Nifty50 index settled at 10,888, up 83 points or 0.8 per cent.
The rupee traded on a firm note against the US dollar, having risen to 71.56 in intra-day trade. The domestic unit on Friday closed at 71.90 against the greenback.
Global Markets
The S&P BSE Sensex ended at 36,270, up 307 points or 0.9 per cent, while the broader Nifty50 index settled at 10,888, up 83 points or 0.8 per cent.
In sectoral indices, metal stocks gained the most during the day, followed by financial services counters. The Nifty Metal index settled 2 per cent higher led by Hindustan Copper, Jindal Steel & Power and Vedanta. The Nifty Financial Services ended 1 per cent higher led by Max Financial Services and ICICI Prudential Life Insurance Company.
Among individual stocks, BEML rallied 8 per cent to Rs 846 apiece on BSE after the company bagged contract worth of Rs 30.15 billion from the Mumbai Metropolitan Region Development Authority (MMRDA) to supply rolling stock on Metro corridors 2A, 2B and 7.
Tata Motors traded higher for the fifth straight day, gaining 4.1% at Rs 174 on BSE after a news report suggested that the company-owned Jaguar Land Rover (JLR) plans to cut thousands of jobs as part of a turnaround strategy.
Shares of Bandhan Bank ended higher for the fourth straight session, rising 7.5 per cent to Rs 573 on the BSE after the Kolkata-based private sector lender received prior approval from the Reserve Bank of India (RBI) to open new branches. In the past four trading days, Bandhan Bank has rallied 22.2 per cent from Rs 469 on December 11.
Tata Motors traded higher for the fifth straight day, gaining 4.1% at Rs 174 on BSE after a news report suggested that the company-owned Jaguar Land Rover (JLR) plans to cut thousands of jobs as part of a turnaround strategy.
Shares of Bandhan Bank ended higher for the fourth straight session, rising 7.5 per cent to Rs 573 on the BSE after the Kolkata-based private sector lender received prior approval from the Reserve Bank of India (RBI) to open new branches. In the past four trading days, Bandhan Bank has rallied 22.2 per cent from Rs 469 on December 11.
In the broader market, however, the small-cap and mid-cap indices underperformed their benchmark peers. The S&P BSE MidCap rose 0.4 per cent to 15,258, while the S&P BSE SmallCap index ended at 14,540, up 0.3 per cent.
Rupee
Rupee
The rupee traded on a firm note against the US dollar, having risen to 71.56 in intra-day trade. The domestic unit on Friday closed at 71.90 against the greenback.
Global Markets
Asian share markets began the week on a cautious note after soft economic data from China and Europe added to evidence of cooling global growth and reinforced anxiety over the broadening impact of international trade frictions.
MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.1 per cent in early Monday trade, led by losses in China and Hong Kong. The CSI 300 of Shanghai and Shenzhen share index dropped 0.9 per cent. Other markets showed some resilience. Japan’s Nikkei was up 0.5 per cent while US stock futures ticked up 0.2 per cent. Taiwan also gained 0.3 per cent.
Oil Prices
Oil prices steadied on Monday after slipping by around 2 per cent last week but remained under pressure from oversupply and concern over the prospects for global economic growth and fuel demand.
Brent crude oil was down 10 cents a barrel at $60.18 per barrel. US light crude was down 5 cents at $51.15.
(with Reuters input)
3:36 PM
Sectoral gainers and losers on NSE
3:35 PM
S&P BSE Sensex: Top gainers and losers
3:33 PM
Market at close
The S&P BSE Sensex gained 307 points or 0.85 per cent to settle at 36,270 while NSE's Nifty50 index added 83 points or 0.77 per cent to close at 10,888.
3:23 PM
NEWS ALERT | Coal India to consider interim dividend on December 20
3:15 PM
Gold futures slip 0.21% to Rs 31,488 per 10 grams on weak global cues
Tracking a weak trend overseas, gold prices edged 0.21 per cent lower to Rs 31,488 per 10 grams in futures trade Monday as participants cut bets.
At the Multi Commodity Exchange, gold prices for delivery in February fell Rs 65, or 0.21 per cent, to Rs 31,488 per 10 grams in a business turnover of 133 lots. Similarly, the metal for delivery in January was trading Rs 58, or 0.18 per cent, down at Rs 31,379 per 10 grams in 78 lots. READ MORE
3:03 PM
ALERT Nifty 50 index hits 10,900 for the first time since Dec 3
2:55 PM
NBFCs likely to face more downgrades in December quarter, say experts
The recent commentary from the Reserve Bank of India suggested that non-banking financial companies (NBFCs) aren’t scrounging for capital. In other words, the regulator believes that liquidity isn’t as much a crisis as it was thought to be. Yet, experts say with the system bracing for lower asset growth, the sector could be in for more trouble. Consequently, NBFCs stocks are faced with the sharpest earnings cut in many years. Read more
2:42 PM
Tata Motors up for fifth straight session; stock rises 5%
Shares of Tata Motors were trading higher for the fifth straight day, up 5% at Rs 176 on BSE, after a news report suggested that the company-owned Jaguar Land Rover (JLR) plans to cut thousands of jobs as part of a turnaround strategy.
In past one week, Tata Motors has outperformed the market by surging 12%, as compared to a 3.6% rise in the S&P BSE Sensex. Read more
2:30 PM
RBI meddling could undermine India's financial stability: S&P Global
The increasing involvement of the Indian government in the affairs of the country's central bank is a negative for the ratings of giant Asian economy's banking system, S&P Global said on Monday.
"S&P Global Ratings views as credit negative the circumstances leading to the recent resignation of Urjit Patel, governor of the Reserve Bank of India (RBI)," S&P analysts Michael Puli and Andrew Wood said in a note. Read more
2:20 PM
top gainers and losers in S&P BSE Sensex
2:08 PM
Devangshu Datta Look at medium-term debt funds
The last week has seen a bewildering quantum of news flow. It all adds up to a good chance of a large increase in liquidity as the general elections draw nearer. The five Assembly elections indicated a clear pattern of rural distress. Rural voters are unhappy with the BJP.
Farm loan waivers, plus higher minimum support price, plus power subsidies, etc., will all be on the agenda for all parties in their campaigns. A falling trend of retail inflation creates an economic rationale for cutting rates. Read more
1:50 PM
Stock impact: Fortis Healthcare trading over 3% down
IHH unable to proceed with Fortis open offer after SC stay on stake sale
Malaysia's IHH Healthcare Monday said it will not be able to proceed with the open offer for Fortis Healthcare for the time being, following the Supreme Court order to put on hold sale of controlling stake in the Indian hospital chain.
In a regulatory filing, IHH Healthcare, however, said the apex court's order does not impact acquisition of 31.1 per cent stake in Fortis for Rs 40 billion, which was completed on November 13. READ MORE
Stock impact: Fortis Healthcare trading over 3% down
1:41 PM
Top gainers on BSE 500:
» More on Top Gainers
| COMPANY | PRICE() | CHG() | CHG(%) | VOLUME |
| D B CORP | 184.40 | 12.80 | 7.46 | 22133 |
| MMTC | 29.75 | 2.05 | 7.40 | 728415 |
| AVANTI FEEDS | 387.90 | 24.20 | 6.65 | 155348 |
| I T D C | 314.85 | 18.80 | 6.35 | 14198 |
| HIND.COPPER | 50.85 | 2.70 | 5.61 | 322695 |
1:26 PM
HUL, NRB Bearings, Vinati Organics, GMM Pfaudler hit new highs
Shares of Hindustan Unilever (HUL), NRB Bearings, Vinati Organics and GMM Pfaudler have hit their respective new highs. PVR, the leading Indian cinema exhibition firm and Ircon International, the construction & engineering company touched fresh 52-week highs on the BSE on Monday. READ MORE
1:10 PM
Buzzing in trade | RSWM zooms 16%
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First Published: Dec 17 2018 | 8:09 AM IST
