Grasim dipped 3%, Yes Bank gains 4%##Grasim dipped 3%, Yes Bank gains 4%

Dec 20, 2018 3:48 PM

Closing Bell: Sensex, Nifty recover to end with minor cuts, Yes Bank gains 4%##Closing Bell: Sensex, Nifty recover to end with minor cuts, Yes Bank gains 4%

The Sensex recovered more than 240 points in trade to end at 36,431, still down by more than 52 points. The Nifty ended 15 points down, recovering around 80 points, to settle at 10,951. The Nifty MidCap ended in the green, rising marginally by 0.12 percent. Yes Bank shares surged 4 percent, while HPCL, BPCL, UPL, Asian Paints, Hero MotoCorp, M&M and Tata Motors, rising by up to 3.51 percent. Grasim, SBI, Wipro, Vedanta, Bharti Airtel and Maruti Suzuki dipped by up to 3.09 percent. Only 15 sectors advanced against 28 declining sectors. Nifty PSU Bank declined nearly 2 percent, the weakest among falling sectoral indexes.

Dec 20, 2018 3:45 PM

ONGC approves buyback, shares marginally up##ONGC approves buyback, shares marginally up

ONGC approves buyback worth up to Rs 4,022 crore at Rs 159 per share and set January 4 as record date for buyback. Shares traded at Rs 148.60, marginally up by 0.24 percent at 3.10 pm. The benchmark Nifty50 traded 28 points down, or 0.26 percent, 10,938, while the Sensex was lower by 59 points, or 0.16 percent, to trade at 36,424.

Dec 20, 2018 3:12 PM

Asian Paints maintains gains for third session, hits three-month high##Asian Paints maintains gains for third session, hits three-month high

Shares of Asian Paints rose for the third session in a row today, to hit a three-month high of Rs 1,431.55 as the sharp fall in the global crude oil prices is seen easing input costs for the company. Crude oil prices have been below the psychologically-crucial level of $50 per barrel since Tuesday. Shares of the paint manufacturer have gained 7 percent in the same period. The stock is likely to gain more as it is showing signs of strength on technical charts, an analyst said. Resistance for the shares is likely in the Rs 1,446-1,459 range, whereas support is expected at Rs 1,410. Shares traded at Rs 1,418.85, up by 1.33 percent.

Dec 20, 2018 2:20 PM

It is very important for the country that Modi should come to power again, says Rakesh Jhunjhunwala##It is very important for the country that Modi should come to power again, says Rakesh Jhunjhunwala

Stock market veteran Rakesh Jhunjhunwala is optimistic on India’s growth story and said it is very important for the country that Narendra Modi comes back as Prime Minister in 2019.

Read full report here

Dec 20, 2018 1:56 PM

2019 General Elections: Will farm loan waivers be order of the day?##2019 General Elections: Will farm loan waivers be order of the day?

Election season in India means fierce competition for farmers' votes. With 52 percent of farmers in debt, loan waivers are a clear vote-winners for political parties. However, is it enough? With the recently concluded state elections in Chhattisgarh, Madhya Pradesh and Rajasthan, a new phase of farm loan waivers has begun. The newly anointed Madhya Pradesh chief minister Kamal Nath was first off the mark. Just days into his government, he waived off farmer loans of up to Rs 2 lakh. NSSO data show that over 47 percent of farmers in Madhya Pradesh are in debt.

Read full report here

Dec 20, 2018 1:49 PM

Pfizer enters in JV with GlaxoSmithKline##Pfizer enters in JV with GlaxoSmithKline

Share price of Pfizer gained nearly 3 percent after company entered in to joint venture with GlaxoSmithKline. Pfizer's parent company Pfizer Inc., USA and GlaxoSmithKline plc have entered into an agreement to create a premier global consumer healthcare company. Shares traded at Rs 2,861.10, lower by 0.64 percent on the NSE at 1.27 pm. Meanwhile, the Nifty50 traded at 10,929, down by 38 points, or 0.35 percent. The Sensex traded 142 points lower, or 0.39 percent, at 36,340.

Dec 20, 2018 1:27 PM

KPIT Tech up as NCLT OKs merger plan with Birlasoft##KPIT Tech up as NCLT OKs merger plan with Birlasoft

Shares of KPIT Technologies gained 2 percent to hit their one-month high of Rs 233 as the National Company Law Tribunal approved the composite scheme of arrangement among Birlasoft (India) and KPIT Technologies and KPIT Engineering. So far today, 1.7 million shares of the company have changed hands on NSE, against the daily average of 1.06 million shares. At 12.23 pm, shares of the company were 0.6 percent higher at Rs 230. So far in 2018, the stock has gained 27 percent.

Dec 20, 2018 12:59 PM

Vakrangee up 3%, plans 75,000 service outlets by 2020##Vakrangee up 3%, plans 75,000 service outlets by 2020

Shares of Vakrangee rose over 3 percent after the company said it intends to increase the number of Vakrangee Kendras to 75,000 by 2020. The company also launched a domestic money transfer service with Eko India Financial Services. The service will be available through the company's Nextgen Vakrangee Kendras. Shares of the company were up 2.5 percent at Rs 36.70.

Dec 20, 2018 12:32 PM

Govt seeks additional Rs 41,000 crore for PSU bank recapitalisation##Govt seeks additional Rs 41,000 crore for PSU bank recapitalisation

Dec 20, 2018 12:22 PM

Bharti Airtel shares fall ahead of board meet to discuss fundraising plans##Bharti Airtel shares fall ahead of board meet to discuss fundraising plans

Shares of Bharti Airtel fell about 2 percent on Thursday ahead of the company's board meet to finalise fundraising plans. The fund raising plan comes as the telecoms company is looking to reduce its debt and finance costs besides bolstering cash flows following the arrival of Reliance Jio in to the market.

Check details here

Dec 20, 2018 12:00 PM

Currency update: Asian currencies stumble as Fed signals 'some' hikes##Currency update: Asian currencies stumble as Fed signals 'some' hikes

Asian currencies weakened against a stable dollar on Thursday, as the Federal Reserve forecast some further gradual rate hikes and projected a less dovish policy stance than anticipated.

The Korean won softened 0.6 percent against the greenback and led the region's declines.

The Fed hiked key rates by 25 basis points and trimmed its median forecast from three to two hikes next year, but left open the possibility that continued strong data could force it to raise rates to the point where they start to brake the economy's momentum.

Fed Chairman Jerome Powell also said that the central bank would continue to trim its balance sheet and that the policy does not need to be accommodative.

OCBC Bank said in a note "the FOMC statement and refreshed economic forecasts were nowhere as dovish as what initial market players were hoping for."

The United States' gross domestic product is forecast to grow 2.3 percent next year and 2.0 percent in 2020, slightly weaker than the Fed previously anticipated.

The Indonesian rupiah stumbled 0.3 percent ahead of the central bank's policy decision later in the day.

(From Reuters)

Dec 20, 2018 11:54 AM

Piramal Enterprises up as Finnish regulator clears unit##Piramal Enterprises up as Finnish regulator clears unit

Shares of Piramal Enterprises rose 3 percent reportedly after drug regulator of Finland certified the company's manufacturing facility in Sanand, Gujarat, as fit to export products to the country. Shares of the company traded 0.94 percent up at Rs 2,299.45 at 11.53 am. The 30-share BSE Sensex traded with a cut of nearly 210 points, or 0.58 percent, at 36,274 on Thursday noon at 11.55 am. The Nifty was just above 10,900 mark, at 10,904, trading lower by nearly 63 points, or 0.57 percent. Broader market indices outperformed in trade with the Nifty MidCap marginally up by 0.09 percent at 11.55 am. The BSE MidCap was also up by 0.10 percent.

Dec 20, 2018 11:53 AM

WATCH| Zee's Puneet Misra says the advertising revenue growth trajectory will remain healthy.

Dec 20, 2018 11:34 AM

Gold update: Gold prices steady as Fed's hints at 'some' hikes in 2019##Gold update: Gold prices steady as Fed's hints at 'some' hikes in 2019

Gold prices steadied on Thursday, after shedding half a percent in the previous session as the US Federal Reserve delivered a less-dovish outlook on monetary tightening than many had expected.

In a widely anticipated decision, the US central bank hiked interest rates by 25 basis points on Wednesday. But what took markets by surprise was the Fed's commitment to retain the core of its plan to tighten monetary policy, despite rising uncertainty about global economic growth.

Spot gold rose 0.1 percent to $1,244.56 per ounce at 0506 GMT, after declining the most since Nov. 27 in the previous session.

Prices crossed the 200-day moving average around $1,252 an ounce before the Fed's statement on Wednesday.

US gold futures declined 0.7 percent to $1,247.7 per ounce on Thursday.

Dec 20, 2018 11:18 AM

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