Share market HIGHLIGHTS: Sensex closes up 600 points, Nifty reclaims 10,700; Hero Motocorp, Yes Bank top stocks

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Updated:Dec 12, 2018 3:42:36 pm

Share market HIGHLIGHTS: Surging for the second straight session, the equity benchmark BSE Sensex Wednesday closed over 600 points.

Share market HIGHLIGHTS: The 30-share index closed the day higher 625.96 points

Share market HIGHLIGHTS: Surging for the second straight session, the equity benchmark BSE Sensex Wednesday closed over 600 points after former bureaucrat Shaktikanta Das assumed the charge as the new governor of the RBI and sentiment towards the Sino-US trade dispute lifted after US President Donald Trump sounded upbeat.

The 30-share index closed the day higher 625.96 points, or 1.78 percent, to 35,775.97. All the sectoral indices, led by banking, auto, and consumer durables stocks traded in the positive zone. The NSE Nifty too rose 188.45 points, or 1.79 percent, to 10,737.60.

Top gainers on the BSE index include Yes Bank HeroMotocorp, Bharati Airtel, M&M, Tata Steel, Kotak Bank, Tata Motors and Axis Bank. The Sensex had Tuesday rose 190.29 points to end at 35,150.01, after falling over 500 points intra-day. And the broader NSE Nifty rose 60.70 points to end at 10,549.15.

Earlier today, rupee opened weak at 72.10 against the US dollar, then depreciated further to 72.17, showing a decline of 32 paise over its previous closing.

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Share Market Highlights: Sensex, Nifty, Indian Rupee vs US Dollar, Latest Stock Market News, NSE, BSE

Highlights

    15:15 (IST)12 Dec 2018
    BSE Sensex Heatmap

    15:08 (IST)12 Dec 2018
    Central bank autonomy 'sacred': Arvind Subramanian

    With the reigns of RBI (Reserve Bank of India) governorship passing to an ex-bureaucrat, former chief economic advisor Arvind Subramanian Wednesday said central bank autonomy is "sacred", which should not be compromised.

    15:06 (IST)12 Dec 2018
    Nifty reclaims 10,700-mark

    Market extends gains, Nifty above 20-day moving average. Nifty reclaims 10,700-mark.

    14:18 (IST)12 Dec 2018
    Dr Reddy's falls after US court puts Suboxone copy sale on hold

    Dr Reddy's Laboratories Ltd shares fall as much as 6.7 percent to Rs 2,534.1, their lowest since November 26. A U.S. appeals court has put a hold on the drugmaker from launching a copycat version of its rival Indivior Plc's opioid treatment Suboxone Film.

    13:54 (IST)12 Dec 2018
    Sensex view

    13:53 (IST)12 Dec 2018
    BSE Sensex Heatmap

    13:48 (IST)12 Dec 2018
    Aluminium futures slips on weak demand, global cues

    Aluminium prices declined by 0.39 percent to Rs 139.40 per kg in futures trade Wednesday as speculators cut their bets amid weak trend overseas. At the Multi Commodity Exchange, aluminium for delivery in December fell by 0.55 paise, or 0.39 percent, to Rs 139.40 per kg in a business turnover of 3,254 lots.

    13:43 (IST)12 Dec 2018
    Ambuja Cement's MD and CEO steps down

    Ambuja Cement's MD and CEO Ajay Kapur resigns with effect from March 1, 2019, CNBC TV18 reported.

    13:27 (IST)12 Dec 2018
    Bonds rally as new RBI Governor takes charge

    Shaktikanta Das, who has often advocated rate cuts and been pro-growth during his stint at the ministry, comes in at a time when inflation is trending lower in India amid an easing in food and energy costs.

    Read more: Bonds rally as new RBI Governor, pro-growth Shaktikanta Das, expected to be dovish on rates

    13:15 (IST)12 Dec 2018
    Ambuja Cement approves investment of Rs 960 crore for Marwar project

    Ambuja Cement on Wednesday said that it has approved  investment of Rs 960 crore for Marwar project and the total investment at Rs 2,350 crore., CNBC TV18 reported.

    13:05 (IST)12 Dec 2018
    Asia stock traders hit ‘buy’ as US-China trade magic is back

    The regional benchmark is heading for its biggest jump since Dec. 3, when the market reacted to Presidents Donald Trump and Xi Jinping’s famous dinner in Buenos Aires.

    Read more: Asia stock traders hit ‘buy’ as US-China trade magic is back

    12:53 (IST)12 Dec 2018
    RBI Governor Resignation Highlights Risks To Policy Priorities: Fitch Ratings

    Fitch Ratings Wednesday said that resignation of RBI Governor highlights risks to policy priorities. Urjit Patel’s resignation highlights risks to policy priorities, it added.

    12:47 (IST)12 Dec 2018
    SBI gets board nod to raise $1.25 billion

    State Bank of India (SBI) on Wednesday said its board has given approval to raise $1.25 billion through a public offer or private placement of senior unsecured notes.

    12:36 (IST)12 Dec 2018
    Chances of stimulus from government post state election results are increasing: Dabur

    The chances of stimulus from the side of government post state election results are increasing, Dabur told CNBC TV18. We stick to low double-digit volume growth guidance for the full year, it added.

    12:08 (IST)12 Dec 2018
    Shaktikanta Das assumes charge as RBI Governor

    Former economic affairs secretary Shaktikanta Das has assumed charge as RBI Governor today.  "Assumed charge as Governor, Reserve Bank of India. Thank you each and everyone for your good wishes," Das tweeted.

    12:06 (IST)12 Dec 2018
    BSE Sensex Heatmap

    11:43 (IST)12 Dec 2018
    Indiabulls Ventures share price climbs 9%

    Shares of Indiabulls Ventures Wednesday soared nearly 9 percent after its promoter Sameer Gehlaut and five other promoter entities settled a case with market regulator Sebi. After a positive opening on BSE, the scrip further advanced by 8.94 percent to hit a high of Rs 369 in the morning trade. The stock followed a similar movement on NSE as well, where it rose by 8.93 percent to Rs 368.8. 

    11:41 (IST)12 Dec 2018
    India can't be dependent on RBI for capital, says Henry Kravis, Kohlberg Kravis Roberts & Co

    Henry Kravis of Kohlberg Kravis Roberts & Co told CNBC TV18 that India needs capital and avenues for it. The country can’t be dependent on RBI, he added.

    11:39 (IST)12 Dec 2018
    IIP, CPI inflation data to be released today

    All eyes are now set on the Central Statistics Offices (CSO) as it will be presenting India's Consumer Price Index (CPI) inflation numbers for November 2018 and Index of Industrial Production (IIP) for October 2018 today.

    11:26 (IST)12 Dec 2018
    New RBI Governor's appointment to calm investors: HDFC Bank

    "The appointment of the new governor is likely to calm investors and ease any uncertainty about the next head of the central bank," economists at HDFC Bank wrote in a note.

    11:14 (IST)12 Dec 2018
    Shares of Usha Martin jump 10%

    Shares of special steel and wire rope maker Usha Martin Ltd jump as much as 10.2 percent to Rs 39.95, their highest since December 4. The Competition Commission Of India on Tuesday approved acquisition of co's steel division by Tata Sponge Iron Ltd.

    11:01 (IST)12 Dec 2018
    Market watch

    10:54 (IST)12 Dec 2018
    New RBI Governor's appoinment boosted investor sentiment: Traders

    Investor sentiment got a boost after the appointment of the new RBI Governor on hopes that it will now address the liquidity issue and could help public sector banks in their recapitalisation programme, besides helping in stabilising short-term investor sentiment, traders told PTI.

    10:51 (IST)12 Dec 2018
    ADB retains Indian growth forecast at 7.3% for FY19

    Asian Development Bank Wednesday said it has retained its India growth forecast at 7.3 per cent for current fiscal and 7.6 per cent in the following financial year. India is maintaining growth momentum on rebounding exports and higher industrial and agricultural output, ADB said in its Asian Development Bank Outlook Supplement.

    10:50 (IST)12 Dec 2018
    BSE Sensex Heatmap

    10:31 (IST)12 Dec 2018
    Market volatility to elevate going into CY19: Motilal Oswal

    Motilal Oswal expects focus to revert to fundamentals, and sees volatility to be elevated going into calendar year 2019.

    10:09 (IST)12 Dec 2018
    BSE Sensex view

    10:04 (IST)12 Dec 2018
    Rupee recovers over 20 paise

    Rupee sees a recovery of more than 20 paise from the opening low of 72.20 against the US dollar.

    10:00 (IST)12 Dec 2018
    Investors should watch for pre-poll alliance and growth or inflation mix: Morgan Stanley

    Morgan Stanley's take: Results first indicators of how things may pan out in May 2019. Early signs indicates incumbent BJP-led NDA government suffering some losses. However, these signals can be fragile in the world of politics. Investors should watch for pre-poll alliance and growth or inflation mix. Maharashtra and Uttar Pradesh likely to be crucial to the results in 2019. New flow on alliances should emerge in next three months.

    09:54 (IST)12 Dec 2018
    Markets to take positive cues from new RBI Governor's appointment

    The stock markets are likely to take positive cues out of timely appointment of new RBI Governor, Ashok Wadhwa of Ambit Capital told CNBC TV18. “..I think the most important thing that has happened is that resignation has been accepted of the previous governor, and new governor is in position. Business would be back to usual from tomorrow morning. I would like to believe that markets would start looking at how companies are performing”, he added.

    09:48 (IST)12 Dec 2018
    Market looking at new RBI Governor's take on PCA, liquidity, corporate governance: Deutsche Bank

    Market looking at new RBI Governor's take on PCA, liquidity, corporate governance, says Deutsche Bank. We prefer high CASA private banks, select industrials among beta stocks, it adds.

    09:46 (IST)12 Dec 2018
    No corelation between state and general polls: Motilal Oswal

    Citing previous election results, Motital Oswal Research says there is no direct co-relation between outcome of the "semi-final" state polls and Lok Sabha polls.

    09:45 (IST)12 Dec 2018
    State poll results will likely increase fears of unstable government among retail investors: CLSA

    CLSA says state elections results will likely increase fears of an unstable government among retail investors and this could impact market inflows. It also added that a slowdown in flows could impact market multiples.

    09:44 (IST)12 Dec 2018
    Sensex, Nifty trade at day's high

    Share market extends gains: While Sensex is trading higher by 266 points, up 0.76 percent to 35416.10, Nifty 50 is higher by 83 points, up 0.79 percent to 10632.20.

    09:34 (IST)12 Dec 2018
    BSE Sensex Heatmap

    09:32 (IST)12 Dec 2018
    Bonds rally after appointment of new RBI gov, rupee falls

    Bonds rallied on Wednesday following the appointment of Shaktikanta Das as the new Reserve Bank of India governor, but the rupee weakened slightly on the back of sharp gains in global crude oil prices. The benchmark 10-year bond yield fell as much as 8 basis points to 7.45 percent. The partially convertible rupee was trading at 72.03 per dollar versus its previous close of 71.84 after initially dropping as low as 72.20 at the open.

    09:31 (IST)12 Dec 2018
    New RBI Governor to take charge at 10 am

    Shaktikanta Das to take charge as RBI Governor at 10 a m today., news agency ANI reported.

    09:11 (IST)12 Dec 2018
    Oil rises more than 1 pct on OPEC-led supply cuts

    Oil prices climbed by more than 1 percent on Wednesday, lifted by expectations that an OPEC-led supply cut announced last week for 2019 would stabilise markets as well as hopes that long-running Sino-American trade tensions could ease.

    09:10 (IST)12 Dec 2018
    Asian shares rally on Sino-US trade hopes

    Asian stock markets rallied on Wednesday as U.S. President Donald trump sounded upbeat about a trade deal with China, while sterling struggled with the risk of an imminent party coup against British Prime Minister Theresa May.