Thank you readers! Here are the key highlights from today's session

- Sensex & Nifty End Flat But At Record Closing Highs

- Midcaps Outperform Frontline Indices, Index Up 0.6%

- Nifty Bank Closes Flat With HDFC Bank Being Top Loser

- HDFC Bank Drags Nifty By 27 Points & Nifty Bank By 176 Points

- Market Breadth Favours Advances; Advance-Decline Ratio At 3:1

- Sensex Gains 15 Points To 44,633 & Nifty 20 Points To 13,134

- Nifty Bank Slips 14 Points To 29,449 While Midcap Rises 126 Points To 20,127

- Maruti Top Nifty Gainer With 7% Move On Optimistic Commentary

- IndiGo & SpiceJet Move Higher After Govt Raises Airline Capacity To 80 percent

- Piramal Enterprises Surges 5 percent On Reports Of Piramal Glass Being Acquired By Blackstone

Dec 3, 2020 3:38 PM

Closing Bell: Sensex ends flat, Nifty belo 13,150; HDFC Bank, IT stocks drag

Indian indices pared gains to end flat on Thursday after hitting all-time highs at the opening. Markets gave up gains dragged by IT stocks and heavyweight HDFC Bank after the RBI advised the lender to temporarily halt launches of the Digital 2.0 programme, sourcing new credit card customers. The Sensex ended 14 points higher at 44,632 while the Nifty rose 20 points to settle at 13,134. Broader markets, however, outperformed benchmarks with the Nifty Midcap and Nifty Smallcap indices up over half a percent each. On the Nifty50 index, Maruti, NTPC, ONGC, Hindalco and SBI were the top gainers while SBI Life, HDFC Bank, TCS, Infosys and Bajaj Auto led the losses. In intra-day deals, The Sensex rose as much as 335 points to hit a new high of 44,953 while the Nifty added 101 points to its record high of 13,215.

Dec 3, 2020 3:34 PM

RBI monetary policy decision tomorrow: Here’s what to expect

The repo rate, currently at a historic low of 4 percent, is expected to be left unchanged.Get latest Economy online at cnbctv18.com

Dec 3, 2020 3:22 PM

On Gold: Jateen Trivedi, Senior Research Analyst (Commodity & Currency) at LKP Securities

"Gold continued it positive moves on Thursday as well, taking broad supports of $1780 in Spot and 48500 in MCX on Monday it has continued to cover the lost ground and today trading at $1826 & 49400 respectively. The recent rise in price id due to the rising numbers of Covid-19 in US & Euro zone along with hopes of US stimulus package which keep dollar price weak and bullion higher"

Dec 3, 2020 3:08 PM

Dec 3, 2020 2:59 PM

Investec Cap bullish on electronics manufacturing and chemicals

There are investment opportunities in industrial plays which are quite cheap currently, according to Mukul Kochhar, co-head of equities at Investec Cap Services. “Stocks that are trading below cash on balance sheet, good companies with no history of either making a loss are trading below the cash on the balance sheet and this is where I think the next value picking opportunity is going to be based on valuations, some industrial plays which are just very cheap,” he elaborated. On specific stocks and sectors he said, “What is common in sectors where we have done well is economies of scale. Economies of scale is key for India success and industries and we see that happening in a few sectors.” Watch video for more

Dec 3, 2020 2:50 PM

IGX gets PNGRB nod to operate as Gas Exchange for 25 years

The Indian Energy Exchange on Thursday said its arm, Indian Gas Exchange (IGX), has secured authorization from the Petroleum and Natural Gas Regulatory Board (PNGRB) to operate as a Gas Exchange. IGX is India’s first automated delivery-based gas trading platform.

IGX has secured the necessary authorization to operate as a Gas Exchange as per the provisions of the PNGRB (Gas Exchange) Regulations, 2020 for a period of 25 years, an Indian Energy Exchange (IEX) statement said. According to the statement, the regulations were notified by the PNGRB on September 28, 2020.

IGX had submitted its application for authorization on October 8, 2020. ”With this development, IGX has become the first regulated gas exchange in the country. The Exchange will play an instrumental role in transparent discovery of gas prices, accelerate investments in the value chain, aid in capacity utilization of pipelines as well as boost consumer confidence and in turn increasing gas demand in the country,” PNGRB Chairperson D K Sarraf said. Read more here.

Dec 3, 2020 2:36 PM

Dec 3, 2020 2:31 PM

Alembic Pharma receives USFDA approval for Metolazone tablets

Drug firm Alembic Pharmaceuticals on Thursday said it has received approval from the US health regulator for Metolazone tablets, indicated for the treatment of salt and water retention caused by heart failure or kidney disease. The approved product is therapeutically equivalent to the reference listed drug product Zaroxolyn Tablets 2.5 mg, 5 mg and 10 mg of Lannett Company, Inc.

In a regulatory filing, Alembic Pharmaceuticals said ”it has received approval from the US Food and Drug Administration (USFDA) for its abbreviated new drug application (ANDA) Metolazone tablets USP 2.5 mg, 5 mg, and 10 mg”.

Metolazone tablets are indicated for the treatment of salt and water retention including edema accompanying congestive heart failure, edema accompanying renal diseases, including the nephrotic syndrome and states of diminished renal function. Read more here.

Dec 3, 2020 2:16 PM

JUST IN: Dollar Index falls to 90.85, lowest since April 2018. Euro rises to $1.2136, highest since April 2018

Dec 3, 2020 2:05 PM

Market at all-time highs: Takeaways from India Inc's Q3 performance so far

Markets are at all-time highs and with two months of the third quarter behind us, CNBC-TV18’s Prashant Nair decided to put together the latest commentary and data points coming from the top corporates…

Dec 3, 2020 1:54 PM

Won't comment on BigBasket deal; evaluating all opportunities: Tata Consumer

Sunil D'Souza, MD and CEO at Tata Consumer refused to comment on whether his company was in talks to buy online grocer Big Basket. According to him, any M&A deal of size and significance that happens in India does pass through the Tata Group. D’Souza said his company is evaluating 5-10 deals at any point of time. “As and when we find a fit and reach a definitive agreement, we will come back,” he said in an interview with CNBC-TV18. Tata Consumer is listed on Big Basket and sell a lot of products though the online platform. More here

Dec 3, 2020 1:40 PM

Franklin Templeton case: SC directs stay on redemption, slams SEBI

The Supreme Court has directed a stay on redemption requests from investors in the debt schemes wound up by Franklin Templeton. Furthermore, the court has permitted Franklin Templeton to call a meeting of unitholders to seek their consent and approval. The Supreme Court also said that SEBI has a ‘lot to answer for’ and that they will have to take responsibility. The court said that SEBI could have allowed a moratorium of 60 days to Franklin Templeton, but allowed moratorium of only 10 days. The court said that much of the confusion was caused due to SEBI’s ‘sketchy’ regulations, and asked the regulator’s counsel if its client was satisfied with the language of its norms which affect even the common man. More here

Dec 3, 2020 1:26 PM

Nifty50 up 12% in November but falls behind major global peers

India's benchmark Nifty50 rose over 12 percent in November, however, it has underperformed major global peers for the month.Get latest Stocks online at cnbctv18.com

Dec 3, 2020 1:10 PM

Burger King IPO: Issue subscribed 4 times on Day 2; retail portion booked 20 times

The initial public offering of quick-service restaurant chain Burger King India has been subscribed 4 times so far on the second day of the bidding process. The Rs 810-crore public issue has received bids for 29.62 crore equity shares against an IPO size of 7.45 crore equity shares, data available on the exchanges showed. The portion reserved for retail investors is oversubscribed 4 times so far on Day 2, while the portion set aside for non-institutional investors is subscribed 84 percent and that of qualified institutional investors 17 percent. This is the sixth IPO to be fully subscribed on the first day of its bidding process, following Happiest Minds Technologies, Route Mobile, Chemcon Specialty Chemicals, Mazagaon Dock Shipbuilders and Likhitha Infrastructure.

Dec 3, 2020 12:57 PM

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