Share market HIGHLIGHTS: Terrific Thursday! Sensex surges 453 pts; Nifty ends above 10,850 on F&O expiry day

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Updated:Nov 29, 2018 4:11:35 pm

Share market today: The BSE Sensex continued its winning streak for the fourth consecutive day and ended Thursday's trade 453.46 points or 1.27% higher at 36,170.41 points. The NSE Nifty closed above the 10,850 level. The benchmark indices continued to gain for the fourth consecutive session today on the back of positive global cues, coupled with an appreciating rupee on the back of sliding crude oil prices, and healthy buying in financials stocks.

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Share market HIGHLIGHTS: The BSE Sensex continued its winning streak for the fourth consecutive day and ended Thursday’s trade 453.46 points or 1.27% higher at 36,170.41 points. The NSE Nifty 50 closed 129.85 points or 1.21% higher at 10,858.70 points. The benchmark indices continued to gain for the fourth consecutive session today on the back of positive global cues, coupled with an appreciating rupee on the back of sliding crude oil prices, and healthy buying in financials stocks. The rupee appreciated past the 70/$ mark for the first time today in over three-months.

Shares of Reliance Industries Ltd gained over 2% to a high of Rs 1,176.8 today. Notably, this was the highest level since October 17. Yes Bank shares staged a smart recovery and recovered nearly 13% from its day’s low at Rs 147 per share on the BSE.  Shares of the private lender plunged to their lowest in more than two years on Thursday after credit rating agencies ICRA and CARE Ratings downgraded ratings on the lender’s debt instruments. Jet Airways shares jumped nearly 3% to a high of Rs 317.90 per share on the BSE today after the airline clarified that reports of Naresh Goyal’s exit and the increase in share price of the company were speculative in nature.

Asian stocks advanced on Thursday, tracking a surge on Wall Street, after the chairman of the U.S. Federal Reserve suggested it may nearing an end to its three-year rate tightening cycle, boosting interest in riskier assets, said a Reuters report. European shares joined the rally on Wall Street after dovish comments from Federal Reserve Chair Jerome Powell boosted investor sentiment towards stock markets despite uncertainty over a possible escalation in the U.S./China trade dispute.

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Highlights

    15:52 (IST)29 Nov 2018
    Viewpoint: Geojit Financial Services

    "Market held-on to its strong gap-up momentum fuelled by FED’s dovish tone on interest rate cycle coupled with a fall in US bond yield to 2.99. Tailwinds in domestic macros led by sharp fall in oil prices and strong rupee supported the trend. While any ease in global trade tension after G20 meet this weekend will fillip global sentiment."

    -- Vinod Nair, Head of Research, Geojit Financial Services

    15:44 (IST)29 Nov 2018
    NSE live! Check top Nifty gainers and losers

    The NSE Nifty 50 closed Thursday's trade 129.85 points or 1.21% higher at 10,858.70 points. The Nifty continued to gain for the fourth consecutive session today on the back of positive global cues, coupled with an appreciating rupee and a slump in crude oil prices. Check out the top five Nifty gainers and losers in today's trade:

    15:34 (IST)29 Nov 2018
    CLOSING BELL! Sensex surges 453 pts; Nifty ends above 10,850; Bajaj Auto up 4%

    The BSE Sensex continued its winning streak for the fourth consecutive day and ended Thursday's trade 453.46 points or 1.27% higher at 36,170.41 points. The NSE Nifty closed above the 10,850 level. Bajaj Auto was the top gainer on the Sensex, up over 4%.

    15:23 (IST)29 Nov 2018
    European shares join Wall Street rally on dovish Fed comments

    European shares joined an overnight rally on Wall Street after dovish comments from Federal Reserve Chair Jerome Powell boosted investor sentiment towards stock markets despite uncertainty over a possible escalation in the U.S./China trade dispute, said a Reuters report. The pan-European STOXX 600 benchmark was up 0.7% with all major bourses and most sectors trading comfortably in positive territory. Traders believe the risk of fast-rising interest rates hurting the U.S. economy and the stock market is now on the downside after Powell said monetary policy rate is now "just below" estimates of a level that neither brakes nor boosts a healthy economy.

    15:13 (IST)29 Nov 2018
    10-year government bond yield slips below 7.6%

    While the rupee traded on a strong note tracking a slump in crude oil prices, the 10-year government bond yield slipped below 7.6% for the first time in the last 6 months. The rupee appreciated nearly 78 paise or 1.10% to trade at 69.84 against the US dollar.

    14:50 (IST)29 Nov 2018
    Government plans NTPC OFS in December

    The government is planning to sell at least 3.25% stake in power producer NTPC in December, which will help garner Rs 3,800 crore to the exchequer, PTI reported quoting an official. The Cabinet had earlier approved disinvestment of 10% stake in NTPC, of which 6.75%was sold in August last year. At the current market price, sale of 3.25 per cent stake in NTPC will fetch about Rs 3,800 crore to the exchequer, the report said. The government currently holds 61.77% stake in NTPC. Through sale of 6.75% in NTPC, the government had last year raised over Rs 9,200 crore. NTPC shares were trading at Rs 142.25, down 0.87% in afternoon trade on BSE.

    14:34 (IST)29 Nov 2018
    Crude extends decline; WTI crude falls below $50/barrel

    Crude oil prices extended decline on Thusrday, with WTI crude trading with losses of over 1%. WTI crude currently traded at $49.60 per barrel, down 1.37%. Brent crude oil prices traded 1.43% lower at $57.92 per barrel.

    14:25 (IST)29 Nov 2018
    Nifty trades firmly above 10,850; check top gainers and losers

    The NSE Nifty traded firmly above the 10,850-level during the late afternoon trade deals today. Market sentiment was buoyed by positive global cues, along with an appfreciating rupee and healthy gains in bluechip stocks. Check out the top five Nifty gains and losers at this hour:

    13:16 (IST)29 Nov 2018
    Yes Bank share recovers over 12% from day's low

    Yes Bank shares staged a smart recovery and recovered nearly 12% from its day's low at Rs 147 per share on the BSE. Yes Bank share price tanked over 9% to a fresh 33-months low after ICRA, CARE downgraded ratings on the lender's debt instruments. ICRA downgraded domestic long-term ratings of the bank's senior debt instruments to 'ICRA AA' from 'ICRA AA ' and its subordinate debt instruments to 'ICRA AA-' from 'ICRA AA', the bank said in a statement late on Wednesday. Meanwhile, CARE Ratings cut domestic ratings of Yes Bank's senior debt instruments to 'CARE AA ' from 'CARE AAA' and subordinate debt instruments to 'CARE AA' from 'CARE AA '.

    Read here: Yes Bank share price dives 9% on ratings downgrade, but soon recovers 13% from day’s low

    12:30 (IST)29 Nov 2018
    Nifty IT only sectoral loser

    The Nifty IT index was the only sectoral loser in tody's trade as the rupee appreciated against the dollar. Meanwhile, the NSE Nifty continued to trade with nearly 1% gains led by positive global cues, a strong rupee and healthy buying in blue-chip stocks.

    11:34 (IST)29 Nov 2018
    Rupee strengthens further, gains nearly 70 paise against the US dollar

    The rupee extended gains during the late morning trade deals and rose 67 paise to trade at 69.9475 against the US dollar. The rupee gained past the 70/$ mark today for the first time since August 27. Rupee strengthened after the Federal Reserve Chairman Jerome Powell said that US interest rates were just below neutral, signalling that the rate hike cycle was nearing its end. Also, recent softening in crude oil prices and hopes of some positive developments in the US-China trade ties in the upcoming G20 summit also helped the currency.

    Read full story here: Rupee extends gains past 70 vs USD for first time since Aug 27

    11:06 (IST)29 Nov 2018
    NSE LIVE! Nifty FMCG index gains over 1%

    The Nifty FMCG index gained over 1% during the mid-morning trade deals today. GlaxoSmithKline Consumer Healthcare shares gained over 3%, while Emami and HUL shares rose over 2% each.

    11:02 (IST)29 Nov 2018
    RIL rises over 2%, hits 6-week high

    Shares of Reliance Industries Ltd gained over 2% to a high of Rs 1,176.8 today. Notably, this is the highest level since October 17. Reliance Industries arm has recently acquired a substantial stake in media startup New Emerging World of Journalism (NEWJ) with an initial investment of Rs 10.3 million. RIL stock is up 25.15% this year as of last close, compared with the NSE Nifty's 1.88% gain in the same period.

    Also read: RIL shares jump 2%, hits six-week high; chart shows further upside

    10:39 (IST)29 Nov 2018
    Dollar under pressure after Fed's Powell says US rates near neutral

    The dollar weakened against its peers on Thursday after Federal Reserve Chairman Jerome Powell said U.S. interest rates were just below neutral, taken by many investors as a tip that the rate hike cycle was nearing its end, Reuters reported. Powell's dovish remarks took the currency markets by surprise as he noted that the policy rate, at 2-2.25%, is now "just below" the broad range of estimates of neutral, which in September was 2.5-3.5%. This view represents a significant departure from comments in October, when Powell said rates were a "long way from neutral at this point". The Fed chairman's remarks led to the dollar weakening across the board, especially versus riskier currencies such as the Australian and New Zealand dollars. They both gained 1.2% after Powell's remarks. Later, the Aussie advanced slightly more while the kiwi weakened.

    10:37 (IST)29 Nov 2018
    PSU banks trade mixed; SBI top index gainer

    The Nifty PSU Bank index traded with over 0.5% gains during the mid-morning trade deals today. However, most PSU banks were trading with losses, including Canara Bank, Oriental Bank of Commerce, Central Bank of India, PNB, Bank of Baroda and Bank of India. SBI was the top gainer on the index.

    10:32 (IST)29 Nov 2018
    China stocks extend gains; Hang Seng down

    China shares rose on Thursday morning on hopes for policy support and as U.S. Federal Reserve Chairman Jerome Powell made comments interpreted as a dovish shift, but investors remain wary ahead of the upcoming G20 meeting in Argentina, said a Reuters report. At the midday break, the Shanghai Composite index was up 7.26 points, or 0.28%, at 2,608.99. China's blue-chip CSI300 index was up 0.31%, with its financial sector sub-index higher by 0.02%, the consumer staples sector up 0.7%, the real estate index down 0.77% and the healthcare sub-index up 0.99%.

    10:25 (IST)29 Nov 2018
    Vedanta shares rise nearly 4%

    Vedanta shares rose 3.88% to a high of Rs 200.45 per share on the BSE. An Indian court-appointed panel said on Wednesday that there were insufficient grounds to permanently close Vedanta's copper smelter and govt decision to shut it amounted to administrative overreach, said a Reuters report. The panel set up by National Green Tribunal said authorities in Tamil Nadu state where the plant is located had failed to comply with procedures before shutting down the smelter and co was not given any notice or opportunity to explain its position. Tamil Nadu ordered permanent closure of the smelter in May after 13 people protesting to demand its shutdown on environmental concerns were killed in a police firing.

    10:14 (IST)29 Nov 2018
    Vakrangee shares hits upper circuit after SEBI investigation

    Vakrangee shares touched the upper circuit, jumping nearly 5% to Rs 30.7, the highest level in a month. Capital markets regulator on Wednesday said there were no findings of any stock manipulation by promoter entities after an investigation. However, during the investigation, it was observed that there was a delay in intimation of hike in shareholding by NJD Capital, Vakrangee Holdings Pvt Ltd, Dinesh Nandwana and Dinesh Nandwana. The Economic Offences Wing had last week given the co a clean chit after a complaint was filed against it and CEO.

    10:08 (IST)29 Nov 2018
    Jet Airways shares jump 3%

    Jet Airways shares jumped nearly 3% to a high of Rs 317.90 per share on the BSE today after the airline clarified that reports of Naresh Goyal's exit and the increase in share price of the company were speculative in nature. In a BSE filing on Wednesday, the airline said: 'Please note that the subject news is speculative in nature and we are committed to make appropriate disclosures in accordance with applicable regulations to avoid any speculative activities.'

    10:03 (IST)29 Nov 2018
    Gold gains as dollar sags on cautious Fed remarks

    Gold prices firmed on Thursday as the dollar faltered following dovish comments from U.S. Federal Reserve Chair Jerome Powell, calming investor concerns over the pace of rate hikes, Reuters reported. Spot gold was up 0.3% at $1,224.13 per ounce at 0410 GMT. Prices climbed about 0.6% on Wednesday, their biggest one-day percentage gain since November 16. U.S. gold futures were little changed at $1,223.2 per ounce.

    10:01 (IST)29 Nov 2018
    Rupee past 70 per dollar mark for first time in three months

    The rupee continued to appreciate in the early morning trade deals on Thursday and gained past the 70/$ mark for the first time since August 27. The rupee currently traded 63 paise higher at 69.9875 against the US dollar.

    09:54 (IST)29 Nov 2018
    IT index slips as INR gains strength

    The Nifty IT index was the only sectoral loser in tody's trade as the rupee appreciated against the dollar. The rupee rose to a three-month high against the dollar on Thursday after most Asian markets rallied following the U.S. Federal Reserve's comments, helping boost appetite for riskier assets, according to a Reuters report.

    09:46 (IST)29 Nov 2018
    Yes Bank hits over 2-yr low after ICRA, CARE cut ratings

    Shares of Yes Bank Ltd plunged to their lowest in more than two years on Thursday after credit rating agencies ICRA and CARE Ratings downgraded ratings on the lender's debt instruments, a Reuters report said. The bank's shares fell 6.1% to Rs 152.15 rupees to their lowest since March 18, 2016, in early trade. ICRA downgraded domestic long-term ratings of the bank's senior debt instruments to 'ICRA AA' from 'ICRA AA+' and its subordinate debt instruments to 'ICRA AA-' from 'ICRA AA', the bank said in a statement late on Wednesday. Meanwhile, CARE Ratings cut domestic ratings of Yes Bank's senior debt instruments to 'CARE AA+' from 'CARE AAA' and subordinate debt instruments to 'CARE AA' from 'CARE AA+'.

    09:45 (IST)29 Nov 2018
    Wall Street surges on hints of fewer rate hikes, dollar falls

    Comments by Federal Reserve Chair Jerome Powell that benchmark U.S. interest rates were “just below” neutral sparked a sharp rally on Wall Street on Wednesday, easing investor worries about the pace of rate hikes by the U.S. central bank next year. Hopes that the United States and China could call a trade war ceasefire at the upcoming G20 summit in Argentina also boosted stocks around the globe. Meanwhile, the dollar retreated with potentially fewer rate increases on the horizon, and sterling rose after the Bank of England said the British economy could shrink by as much as 8 percent in about a year after a no-deal Brexit.

    Read more: Wall Street surges on hints of fewer rate hikes, dollar falls

    09:38 (IST)29 Nov 2018
    Rupee hits 3-month high, bond yields at 6-month low

    The Indian rupee rose to a three-month high against the dollar on Thursday while bond yields were at their lowest levels since early May as most Asian markets rallied following the U.S. Federal Reserve's comments, helping boost appetite for riskier assets, according to a Reuters report. Fed Chair Jerome Powell said the Fed's policy rate is now "just below" a level that neither brakes nor boosts a healthy economy. The comments have prompted speculation that the cycle of U.S. interest rate hikes may be petering out. The partially convertible rupee was at 70.13 per dollar after touching 70.03 earlier, its strongest level since August 28. It had ended Wednesday at 70.6250. The benchmark 10-year bond yield was at 7.60% by 0340 GMT, down 4 basis points on the day and at its lowest level since May 8.

    09:34 (IST)29 Nov 2018
    Yes Bank most traded stock by volume

    Yes Bank emerged as the most traded stock by volume in the first 15 minutes of trading on Thursday. Check other stocks here:

    09:33 (IST)29 Nov 2018
    NSE live! Nifty reclaims 10,800; check top gainers and losers

    The NSE Nifty opened above the 10,800-level on Thursday, buoyed by strong global cues. In the first 10 minutes of trade, the Nifty was trading 72.05 points or 0.67% higher at 10,800.90 points. Check out the top 5 gainers and losers on the Nifty:

     

    09:29 (IST)29 Nov 2018
    BSE live! Sensex reclaims 36,000

    Buoyed by strong global cues, the benchmark BSE Sensex on Thursday reclaimed the 36,000-mark. Around 9.25 am, the Sensex surged 283.49 points or 0.79% to trade at 36,000.44 points. Yes Bank remained the top loser, cracking over 5% in early morning trade.

    09:24 (IST)29 Nov 2018
    OPENING BELL: Sensex jumps over 250 points, Nifty opens over 10,800; Yes Bank slips 4%, RIL up 2%

    The domestic stock market opened on a strong note on Thursday tracking positive global cues. The BSE Sensex opened over 250 points higher, while the NSE Nifty opened above the 10,800-level. Yes Bank shares slipped 4% in opening trade.

    Share market on Wednesday: Continuing the winning streak for the third consecutive session, Sensex and Nifty closed on a higher note on the back of positive global cues and short-covering ahead of November derivatives expiry. Trading with appreciable gains throughout the day, The BSE Sensex closed Wednesday’s trade 203.81 points or 0.57% higher at 35,716.95 points. The NSE Nifty 50 gained 43.25 points or 0.40% to end at 10,728.85 points. Yes Bank was the top loser, cracking nearly 12%