Thank you, readers! Here are the main highlights from today’s trading session##Thank you, readers! Here are the main highlights from today’s trading session

- Market Fails To Hold Opening Highs, Closes Near Day’s Low

- Sensex Slips 246 Points From Intra-day Record High Of 41,185

- Nifty Gives Up 12,100, Down 81 Points From Day’s High

- 38 Nifty Stocks Close Lower; Reliance, ITC, HDFC Bank Top Losers

- IT Stocks Gain As Rupee Weakens Against The US Dollar

- Nifty Bank Slips 213 Points From Highs To Close Flat

- HDFC Bank and Axis Bank Drag Nifty Bank While Kotak Bank and ICICI Bank Support

- Midcap Index Falls 155 Points From Highs, Market Breadth Favours Declines

- Except IT, All Sectoral Indices Close In The Red; Metal, FMCG Top Losers

- JSPL Under Pressure After Coal Min Rejects Allocation Of Gare Palma IV/1 Block

- Indoco Remedies Up Over 2 percent After Getting GMP For Goa Unit (II)

- Glenmark Pharma Higher In Trade After Getting GMP Certificate From EU Regulator

- Sun Pharma Mildly Lower After US FDA Issues 8 Observations To Halol Unit

Dec 16, 2019 3:42 PM

Closing Bell: Sensex, Nifty pare early gains to end in red; auto, metal stocks fall##Closing Bell: Sensex, Nifty pare early gains to end in red; FMCG, auto stocks fall

Indian shares pared early gains to end marginally lower on Monday, as initial enthusiasm over a phase one Sino-US trade pact gave way to concerns about the lack of concrete details on the agreement. Indices were dragged by losses in metal, auto and FMCG indices. Decline in index heavyweights like Reliance Industries, ITC, HUL, and HDFC Bank also added to the woes.

The BSE Sensex settled 71 points lower at 40,939, while the NSE Nifty50 was down by 26 points to end at 12,061. Broader market indices also traded mixed with the Nifty MidCap 100 index down 0.6 percent, while the SmallCap100 index slipped 0.10 percent. In intra-day deals, the BSE Sensex rose 175 points to hit a new high of 41,185, while the Nifty Bank index also advanced 143 points to its all-time high of 32,157.

TCS, Tech Mahindra, HCL Tech, Kotak Bank and Bajaj Finserv were top Nifty gainers for the day, up between 0.8-3 percent, while Grasim, Adani Ports, ITC, Eicher Motors and JSW Steel led the losses. Sectoral indices traded largely lower with Nifty FMCG and Nifty Metal indices losing over 1.2 percent each. Nifty Auto also fell 1 percent, while Nifty PSU Bank and Nifty Media shed over 0.5 percent each. Meanwhile, Nifty IT rallied over 1 percent for the day and Nifty Realty was up 0.3 percent. Nifty Bank ended flat after hitting record high in morning deals.

Dec 16, 2019 3:34 PM

These NSE stocks hit their 52-week highs or lows on December 16

Indian market turned volatile again for the second time during the day to post heavy losses in FMCG and metal names.

Dec 16, 2019 3:20 PM

Ramco System share price jumps 9% on contract from China Aircraft Services##Ramco System share price jumps 9% on contract from China Aircraft Services

Ramco System share price gained 9 percent intraday on Monday after the company received an order from China Aircraft Services for end-to-end base and line maintenance operations. One of the largest third-party MRO providers, and a joint venture company among CNAC(G), UAL, CAL & Gama Aviation, China Aircraft Services has signed an agreement with the company to implement its Aviation Suite V5.8 for end-to-end base and line maintenance operations.

Dec 16, 2019 3:04 PM

Roundup 2019: Nifty Pharma cracks 9%; only 3 stocks in green##Roundup 2019: Nifty Pharma cracks 9%; only 3 stocks in green

Even as Nifty50 index gained 11 percent in 2019 in 2019, Nifty Pharma index was a drag on the NSE, falling about 9 percent on the back of USFDA observations, pricing pressure, increasing R&D expenses, and fixed-dose combinations (FDC) ban, among others. The fall in the sectoral index was led by Glenmark Pharma, Aurobindo Pharma, Piramal enterprises, Cadila Healthcare, Cipla, Lupin, and Biocon. These stocks fell between 5.5 percent and 50 percent this year. Only 3 stocks from the sector that gave positive returns in 2019 were Divi's Labs (up 25 percent), Dr. Reddy's (up 8 percent), and Sun Pharma (up 0.4 percent). READ MORE

Dec 16, 2019 2:50 PM

This stock has tripled investor wealth in 5 years. Do you own it?

The stock has risen as much as 205 percent in the last five years, up from around Rs 95 in December 2014 to Rs 290 currently.Get latest Market online at cnbctv18.com

Dec 16, 2019 2:34 PM

Growth slowdown in India not entirely attributable to global factors: Shaktikanta Das##Growth slowdown in India not entirely attributable to global factors: Shaktikanta Das

Reserve Bank of India (RBI) Governor Shaktikanta Das said on Monday that it will do everything necessary to address growth slowdown, spike in inflation, health of banks and non-banking financial companies (NBFCs).

The RBI Governor said that it had seen the momentum of growth slowdown in the Indian economy and acted ahead of time by reducing rates from February, adding that growth slowdown in the country was not entirely attributable to global factors.

He said that coordinated and timely actions were needed by all advanced and emerging economies to address global economic slowdown. “Hope the China-US understanding on trade will hold and will be sustainable,” said Das.

The RBI Governor said that there was a need for informed, objective discussion on the economy.

(With inputs from PTI)

Dec 16, 2019 2:14 PM

Dec 16, 2019 1:53 PM

PNB's stock price falls after under-reporting bad loans##PNB's stock price falls after under-reporting bad loans

The share price of Punjab National Bank fell nearly 3 percent intraday on Monday after the public lender reported its non-performing assets by Rs 2,617 crore for the fiscal year-2018-19.

As per RBI's risk assessment report, the Bank reported divergence in the provisioning of bad loans to Rs 2,091 crore.

Therefore, the public lender would have reported a net loss of Rs 11,335.90 crore for FY19 as opposed to a net loss of Rs 9,975.49 crore.

Dec 16, 2019 1:36 PM

Navin Fluorine's shares hit a 52-week high##Navin Fluorine's shares hit a 52-week high

The mid-cap chemical stock hit its 52-week high on Monday. Last week, the company reported in its BSE filing that it has approved capital expenditure of approximately Rs 90 crore for site development and related infrastructure on 74 acres of land for greenfield projects on Gujarat.

The company will fund the projects through internal accruals.

At 1:14 pm, the shares were trading 0.28 percent higher to Rs 940.45 per share on the NSE while on an intraday basis, it rose 2.34 percent at Rs 959.95.

Dec 16, 2019 1:16 PM

Here's why ICICI Direct Research sees 36% upside in this pharma stock##Here's why ICICI Direct Research sees 36% upside in this pharma stock

ICICI Direct Research has recommended a 'buy' rating on Aster DM Healthcare with a long-term price target of Rs 210 per share. The target price is 36 percent higher from the pharma firm's market price of Rs 154 apiece on December 10.

It said Aster has a "unique business model among Indian healthcare service providers with a strong established presence in GCC and India".

Aster DM Healthcare's Q2 revenue from operations recorded an increase of 14 percent reaching Rs 2,087 crore. It registered a profit after tax (PAT) of Rs 27 crore in Q2 of FY20.

Read more here

Dec 16, 2019 1:03 PM

Dec 16, 2019 12:44 PM

Moody’s cuts India GDP growth forecast for FY20, citing weak consumption##Moody’s cuts India GDP growth forecast for FY20, citing weak consumption

Global ratings agency Moody's Investors Service has lowered India’s gross domestic product growth projection for the fiscal year 2019-20 to 4.9 percent from 5.8 percent, saying that weak household consumption will curb economic growth and weigh on the credit quality.

"What was once an investment-led slowdown has now broadened into weakening consumption, driven by financial stress among rural households on the back of stagnating agricultural wage growth and constrained productivity, as well as weak job creation due to rigid land and labor laws," said Deborah Tan, a Moody's Assistant Vice President and Analyst. READ MORE

Dec 16, 2019 12:27 PM

Coal Ministry tells CNBC-TV18, closing bid of the Preferred Bidder (JSPL) in the 8th Tranche of the auction for Gare Palma IV/1 has not been approved in the public interest##Coal Ministry tells CNBC-TV18, closing bid of the Preferred Bidder (JSPL) in the 8th Tranche of auction for Gare Palma IV/1 has not been approved in the public interest

Dec 16, 2019 12:04 PM

India's November WPI inflation at 0.58% v/s 0.16 % MoM##India's November WPI inflation at 0.58% v/s 0.16 % MoM

Dec 16, 2019 12:02 PM

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