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 Recovers From Opening Lows To Close With Minor Cuts

- Sensex Gains 341 Points To Close 52 Points Lower At 40,818

- Nifty Recovers 96 Points To Close Above 50-DMA Of 12,024

- Midcap Index Gains 253 Points From Lows To Close In The Green

- Nifty Bank Up 474 Points From Lows To End 26 Points In The Red

- Market Breadth Improves But Still In Favour Of Declines; Advance-Decline Ratio At 2:3

- TCS, Bharti Airtel & ICICI Bank Major Contributors To The Nifty Recovery

- Infosys Falls For Third Straight Day Ahead Of Earnings On January 10

- Bharti Airtel Up Over 3 Percent Ahead Of Telcos’ Meet At SC On Urgent Listing Of AGR Case

- Yes Bank Gains As Board Meets On January 10 To Consider Fundraising

- IOC and ONGC Remain Under Pressure On Report Of Companies’ Participation In BPCL Share Sale

- Eicher Motors Falls As Worry Of Weak Earnings Persists

Jan 8, 2020 3:40 PM

Closing Bell: Sensex reverses losses, ends flat, Nifty holds 12,200; Bharti Airtel, TCS top gainers##Closing Bell: Sensex reverses losses, ends flat, Nifty holds 12,200; Bharti Airtel, TCS top gainers

Indian stocks pared morning losses to end marginally lower on Wednesday as losses in index heavyweights like Infosys, L&T and RIL were capped by gains in TCS, ICICI Bank, and Bharti Airtel. However, sentiment remained weak as the rupee fell and oil prices rose after tensions in the Middle East escalated as Iran fired missiles at an Iraqi air base that hosts US military forces, n retaliation for the US strike killing an Iranian commander last week. Other Asian shares also tumbled while gold shot higher post the development.

The Sensex ended 52 points lower at 40,818, while the Nifty settled 27 points lower at 12,025. Broader indices were mixed during the day with Nifty Midcap rising 0.3 percent and Nifty Smallcap declining 0.3 percent. Among stocks, Bharti Airtel, Yes Bank, TCS, UltraTch Cement, and Bajaj Finance were the top gainers on the Nifty50 index, while Eicher Motors, Coal India, IOC, L&T, and ONGC led the losses.

Sectoral indices were mixed during the day. Major selling was seen in auto, metal, PSU banks and pharma indices. Nifty Auto fell the most, down 0.75 percent, followed by Nifty Metals and Nifty PSU Bank, down 0.6 percent each. Meanwhile, Nifty Pharma and Nifty Realty also declined by 0.5 percent and 0.3 percent, respectively. Among gainers, Nifty IT rose 0.4 percent on the weak rupee and Nifty FMCG was up 0.11 percent.

Jan 8, 2020 3:35 PM

Big returns from smallcaps - These 3 little-known stocks turn Rs 10,000 to over Rs 2 lakh in 3 years

Jan 8, 2020 3:21 PM

December MF data: Equity inflow bounces back; investors seek largecap safety##December MF data: Equity inflow bounces back; investors seek largecap safety

Flows into equity mutual funds have improved to Rs 4,432.2 crore in December after falling to a 3.5 year low in the previous month. There is a continued preference for the safety of large-cap funds over other categories with flows seen at Rs 1,135 crore. This, however, is a tad bit lower than the November reading of Rs 1,197 crore. Midcap funds saw a small decline with inflows falling to Rs 796 crore versus Rs 801 crore in November. The improvement is marked by 182 percent jump in multi-cap funds and a 61 percent jump in small-cap funds. READ MORE

Jan 8, 2020 3:09 PM

Geopolitical risks on crude to continue to remain high, says Tata Mutual Fund’s Rahul Singh##Geopolitical risks on crude to continue to remain high, says Tata Mutual Fund’s Rahul Singh

The geopolitical risks on crude oil will continue to be high as the current situation in West Asia looks more serious than previous skirmishes, said Rahul Singh, CIO-Equities at Tata Mutual Fund. “It will have to be seen in the light of what impact it has on earnings if crude stays at USD 75 per barrel for a longish period of time... Therefore, one cannot make a uniform or unilateral kind of judgement around the whole market per se,” Singh said in an interview with CNBC-TV18. “Incrementally, what would matter for India as a market is how fast the economy recovers, how soon the earnings recover," he added. READ MORE

Jan 8, 2020 2:58 PM

Another muted quarter? Motilal Oswal tells you where to invest in its model portfolio

Jan 8, 2020 2:45 PM

Q3 earnings preview: Banks to see stable asset quality, NIMs to remain under pressure##Q3 earnings preview: Banks to see stable asset quality, NIMs to remain under pressure

The banking sector is likely to witness a moderate 10-percent rise in operating profit in the quarter ended December 2019 led by decelerating system credit growth, muted margins and fee income. The quarter also witnessed strong recovery led by the National Company Law Tribunal (NCLT) resolution of some of the major companies such as Essar Steel and Ruchi Soya. Power projects such as Prayagraj, Korba West, and Rattan India also witnessed a resolution during the quarter. Brokerages do not expect any meaningful turnaround in credit costs for most banks due to the continuing overhang of stressed assets. READ MORE

Jan 8, 2020 2:26 PM

Adani Coal Import Case: Supreme Court stays Bombay High Court relief on DRI plea##Adani Coal Import Case: Supreme Court stays Bombay High Court relief on DRI plea

The Supreme Court on Wednesday stayed a Bombay High Court ruling that gave relief to the Adani Group in an alleged case of overvaluation of Indonesian coal imports between 2011 and 2015. The apex court has also revived the Directorate of Revenue Intelligence (DRI) investigations into alleged over invoicing of imported coal by Adani. The Bombay High Court had in mid-October 2019 ordered quashing of all letter rogatories (LRs) sent by DRI to countries, including Singapore, against three Adani group companies accused of overvaluing Indonesian coal imports between 2011 and 2015. READ MORE

Jan 8, 2020 2:06 PM

FY20 GDP estimates: What the government and RBI likely to do next

Jan 8, 2020 1:56 PM

Suzlon Energy declines 10% over loan repayment default##Suzlon Energy declines 10% over loan repayment default

The share price of Suzlon Energy plunged 10 percent on Wednesday after the company defaulted on loan repayments. The defaults included payment of interest and repayment of principal amount on loans from banks and financial institutions worth Rs 7,256.38 crore. The lenders to the company include SBI-led consortium of 18 banks and Indian Renewable Energy Development Agency. A BSE release from the company noted that the nature of the loans lent to the company included fund-based working capital, non-fund-based working capital, term-loans and standby letter of credit.

Jan 8, 2020 1:41 PM

Goa Carbon shares locked at 5% upper circuit on rise in December production##Goa Carbon shares locked at 5% upper circuit on rise in December production

Shares of Goa Carbon were locked at 5 percent upper circuit on Wednesday after the company reported more than 76 percent rise in calcined petroleum coke production in December 2019. The company’s total production in December rose 76.68 percent at 11,111.800 MT as against 6,289 MT in December 2018. Its Goa plant production increased by 131.92 percent to 6,254.800 MT in December 2019 as compared to 2,696.900 MT in November 2019. The Paradeep plant’s production was reported at 4,857 MT during the month under review.

Jan 8, 2020 1:25 PM

Infosys Q3 Results Preview: What to expect from the IT major this Friday?

Jan 8, 2020 1:11 PM

Suzlon Energy defaults on Rs 7,256.38 crore payment obligations##Suzlon Energy defaults on Rs 7,256.38 crore payment obligations

Wind turbine major Suzlon Energy Ltd on Tuesday said it has defaulted on its loan obligations of Rs 7,256.38 crore. This includes principal of Rs 6,717.44 crore and Rs Rs 538.94 crore interests accrued thereon. The loans were provided by a consortium of Indian Renewable Energy Development Agency (IREDA) and 18 banks led by the State Bank of India (SBI), the release said. In a statement to the stock exchanges, the company said the total amount of outstanding borrowings from banks and financial institutions was Rs 12,785.17 crore. READ MORE

Jan 8, 2020 12:57 PM

Quantum Securities says Nifty50 could hit 13,300 in 2020##Quantum Securities says Nifty50 could hit 13,300 in 2020

Quantum Securities on Tuesday said that Nifty50 could hit 13,300-13,300 level in 2020. In an interview to CNBC-TV18, Neeraj Deewan, director, said, "In case the government announces a cut in income tax, then consumer discretionary stocks will see an immediate uptick. Cement and metals would see gains on the back of stable global markets and increased infrastructure spending by the government." Click here to read full interview

Jan 8, 2020 12:41 PM

Jan 8, 2020 12:25 PM

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