Share market highlights: Sensex ends 137 pts higher, Nifty above 10,950; financials rally

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Updated:Dec 19, 2018 4:26:11 pm

Share market highlights: Continuing its strong winning streak, the Sensex and Nifty 50 ended higher on Wednesday. Sensex ended 137.25 points higher at 36,484.33 while the broader Nifty 50 closed above the 10,950-mark.

Share market highlights: The indices are held on to the gains backed by a rally in bluechips like Maruti Suzuki, SBI, Axis Bank, Tata Steel and ITC amid rising rupee and tumbling crude prices.

Share market highlights: Continuing its strong winning streak, the Sensex and Nifty 50 ended higher on Wednesday. Sensex ended 137.25 points higher at 36,484.33 while the broader Nifty 50 closed above the 10,950-mark. The indices held on to the gains backed by a rally in financials and bluechips like Maruti Suzuki, SBI, Axis Bank, Tata Steel and ITC amid rising rupee and tumbling crude prices. Asian Paints share price zoomed 3% to a near 4-month high of Rs 1,399. Infosys share price plunged by more than 2% to Rs 663.

Asian share markets played second string to bonds on Wednesday as a spectacular fall in the price of oil spurred speculation the U.S. Federal Reserve might be done with tightening after its policy meeting later in the session. 

MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.4 percent, while Shanghai blue chips were flat, Reuters reported. In the United States, the benchmark S&P 500 stock index ended little changed in a choppy trading session on Tuesday as the possibility of a partial U.S. government shutdown raised investor jitters ahead of a highly anticipated meeting of the Federal Reserve. We bring to you live updates.

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

Highlights

    15:45 (IST)19 Dec 2018
    BSE Live: Sensex ends 137 pts higher, Nifty above 10,950; financials rally

    Continuing its strong winning streak, the Sensex and Nifty 50 ended higher on Wednesday. Sensex ended 137.25 points higher at 36,484.33 while the broader Nifty 50 closed above the 10,950-mark. The indices held on to the gains backed by a rally in financials and bluechips like Maruti Suzuki, SBI, Axis Bank, Tata Steel and ITC amid rising rupee and tumbling crude prices. A look at live heatmap.

    15:01 (IST)19 Dec 2018
    GSK, Pfizer agree to merge consumer healthcare businesses; key things to know

    Pharmaceutical giant GlaxoSmithKline Wednesday announced to merge its consumer healthcare unit with that of its rival Pfizer Inc in an all-equity transaction. The merger would create the world’s biggest supplier of over-the-counter medicines with brands of painkillers such as Advil and Panadol. In a statement, GSK said that it would own a controlling 68% equity stake in the proposed joint venture that will have combined sales of about 9.8 billion pounds (approximately $12.7 billion). Rest of the stake will be held by Pfizer, the consumer healthcare division of which includes Centrum vitamins and Advil painkillers.

    Also read: GSK, Pfizer agree to merge consumer healthcare businesses; key things to know

    14:51 (IST)19 Dec 2018
    Airtel, Jio, Vodafone customers face huge call drop problem; check which one is worst of the three

    Call drop is a huge problem; despite warnings from the telecom regulator, the problem persists even after years. All three big telecom networks Airtel, Vodafone-Idea and Reliance Jio have rampant call drops causing trouble for customers. A survey has shown that 56% of telco users face severe call connect and call drop problems. “Consumers have been struggling to get a clear signal and many have admitted to running around the room and to balconies to find those divine ‘5 network bars’ on their phone,” the survey conducted by LocalCircles said.

    Read full story here: Airtel, Jio, Vodafone customers face huge call drop problem; check which one is worst of the three

    14:23 (IST)19 Dec 2018
    BSE Live: Sensex extends gains, Axis Bank, Asian Paints rally up to 4%; Nifty nears 11,000

    Sensex and Nifty extended gains on Wednesday afternoon on the back of a strong rally in financials and consumer stocks. The 30-share Sensex rallied 193 points to intra-day high of 36,540.88. The broader Nifty 50 is trading near the 11,000-level. Axis Bank, Asian Paints shares zoomed by more than 4% each in the afternoon trade. A look at live Sensex heat map.

    13:03 (IST)19 Dec 2018
    BSE Live: Sensex holds on to morning gains on bluechip rally; Nifty above 10,950

    After opening higher on the back of mixed global cues, the Sensex and Nifty are firmly holding on to morning gains. Sensex is trading about 140 pts higher at 36,488.82, while the Nifty 50 is trading above the 10,900-mark. The indices are holding on to the gains backed by a rally in bluechips like Maruti Suzuki, SBI, Axis Bank, Tata Steel and ITC amid rising rupee and tumbling crude prices. A look at Sensex live heat map.

    12:43 (IST)19 Dec 2018
    Baba Ramdev in income tax trouble! Patanjali plea rejected by Delhi High Court; all you need to know

    In a major setback to Baba Ramdev’s Patanjali Ayurved, the Delhi High Court Tuesday dismissed the homegrown FMCG major’s plea and warned it to cooperate with the income tax department in the special audit for the assessment year 2010-2011. Patanjali Ayurved had challenged the special audit, saying that the auditing officer (AO) was trying to take scrutiny through special auditor as an easy way to escape his primary duty to examine the books and returns and complete the assessment in time. While ruling in favour of the income tax department, a bench comprising justice S Ravindra Bhat and justice Prateek Jalan said: “The assessee (Patanjali) is directed to co-operate with the special auditor. 

    Read full story here: Baba Ramdev in income tax trouble! Patanjali plea rejected by Delhi High Court; all you need to know

    12:17 (IST)19 Dec 2018
    BSE Live: Maruti Suzuki share price gains 1%, Chairman RC Bhargava says numbers go up in election year

    Shares of India's largest car-maker Maruti Suzuki gained on Wednesday morning amid a rally in bluechip stocks. Maruti Suzuki share price zoomed by more than 1% to hit intra-day high of Rs 7,880 on BSE. In an interview to CNBC TV18, RC Bhargava, Chairman of Maruti India said that numbers always fall in a pre-election year but go up in an election year. Taking stock of the recent times for auto indistry, he said that last five months have been flat for the company as well as the industry. Further, the inventory in January will come down to low levels, he added.

    11:56 (IST)19 Dec 2018
    Muthoot Finance share price gains 6%

    Shares of gold financing firm Muthoot Finance surged in trade on Wednesday morning. Muthoot Finance share price rallied by more than 5.5% to hit the day's high at Rs 510. The company, which announced its results on December 6, reported a 9% rise in net profit for the second quarter at Rs484 crore. Kotak Institutional Equities noted that the second half of FY19 may be a bit weak for Muthoot but overall business momentum will likely remain healthy given lower competition from smaller NBFCs. Chandan Taparia, derivative analyst at Motilal Oswal expects the stock to rise further to Rs525.

    11:27 (IST)19 Dec 2018
    Glenmark Pharma share price gains 1% after foray into branded deematology segment in US

    Shares of drugmaker Glenmark Pharma gained by more than 1% on Wednesday morning after the firm announced its foray into the branded dermatology segment in the United States. Glenmark Pharma share price rallied by more than 1% to hit the day's high at Rs 693.55. The branded portfolio for the US market will be developed and commercialised by Glenmark Therapeutics Inc USA, Glenmark Pharmaceuticals said in a regulatory filing. "This represents an important step in the company's long-term strategy to build a robust branded business in the US, alongside the company's existing and successful generics business," the company added. Glenmark is already present in generic dermatology market in the US.

    10:40 (IST)19 Dec 2018
    BSE Live: Sensex up 140 pts on rally in bluechip stocks

    The benchmark BSE Sensex is trading 140 points  higher at 36,487.81 in early trade Wednesday on gains in bluechips like Maruti Suzuki, SBI, Tata Steel and ITC amid rising rupee and tumbling crude prices. The Sensex has rallied over 1,387 points in the previous six sessions. Led by FMCG, oil and gas, PSU and realty, sectoral indices advanced up to 0.99%.The NSE Nifty saw similar movement, rising up 36.60 points, or 0.34 per cent, to 10,945.30. Brokers told PTI that sustained buying by investors and foreign fund inflows, coupled with strengthening rupee against the US dollar and falling global crude oil prices, influenced trading sentiment here. A look at Sensex live heat map. 

    10:26 (IST)19 Dec 2018
    BSE Live: Asian Paints share price gains 3% to over 3 and half months high, technical analysts see more upside

    Asian Paints shares rallied in trade on Wednesday morning.  Asian Paints share price gained by more than 3% to hit the day's high at Rs 1,397. Notably, this rise represents the stock's highest mark since Sept 3.  According to technical chartists, the stock has broken above a resistance at Rs 1,362.74 rupees, the 38.2% Fibonacci projection level of the uptrend from Dec. 22, 2016 low to July 25, 2018 high. This breakout suggests that in the near term, stock may rise up to the next resistance at 1,438.55 rupees, the 50 pct projection level.

    10:05 (IST)19 Dec 2018
    Rupee continues rising spree as crude oil prices fall; gains past 70 for first time since Dec 3

    After logging its single best gain on Tuesday in over five years, the Indian rupee made a solid opening on Wednesday by rising over 34 paise to 70.10 per US dollar. The domestic currency further gained strength as it passed 70 per US dollar mark and touched an intraday low of 69.86 per US dollar, up about 70 paise from the previous close. This was the first time rupee breached the 70 level since December 3. Falling crude oil prices are aiding the rally on the Indian currency.

    Also read: Rupee continues rising spree as crude oil prices fall; gains past 70 per dollar for first time since Dec 3

    09:44 (IST)19 Dec 2018
    BSE Live: RCom share price plunges 13% after reports of DoT rejecting deal with Mukesh Ambani's Jio

    Shares of Anil Ambani-led Reliance Communication plunged in the morning trade on Wednesday, after media reports indicated that the DoT has rejected the firm's deal with Mukesh Ambani-led Reliance Jio. The telecom department told Reliance Communications and Reliance Jio Infocomm on Tuesday that it can’t approve their deal to trade airwaves as it does not conform to its guidelines, according to a CNBC TV18 report.

    09:28 (IST)19 Dec 2018
    BSE Live: Sensex up 100 pts, Nifty near 10,950, Yes Bank up 1.5%

    The domestic stock markets- Sensex and Nifty opened higher on Wednesday, tracking mixed global cues. Sensex rallied 146 points in the opening trade to 36,493.46, while the Nifty 50 was trading just 5 points shy of 10,950-mark. Private sector lender Yes Bank shares gained by more than 1.5% to Rs 181.75 after the firm reportedly recommended the name of its board member Brahm Dutt for the post of Chairman to the RBI. A look at Sensex live heatmap.

    09:11 (IST)19 Dec 2018
    US oil prices climb after tumble, but oversupply worries drag

    U.S. oil prices rose on Wednesday to claw back part of their more than 5 percent losses from the previous session, with worries about oversupply and a slowing global economy keeping markets under pressure. U.S. crude oil had climbed 37 cents, or 0.8 percent, to $46.24 per barrel by 0122 GMT, after plunging 7.3 percent the day before in a session when it touched its lowest since August last year at $45.79. Global benchmark Brent was up 0.85 percent, or 49 cents, at $56.75 per barrel.

    Also read: US oil prices climb after tumble, but oversupply worries drag

    09:10 (IST)19 Dec 2018
    Asian shares: Asia tenses for Fed call, oil slide boosts bonds

    Asian share markets played second string to bonds on Wednesday as a spectacular fall in the price of oil spurred speculation the U.S. Federal Reserve might be done with tightening after its policy meeting later in the session. MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.4 percent, while Shanghai blue chips were flat. Japan's Nikkei steadied after an early dip and E-Mini futures for the S&P 500 added 0.4 percent, Reuters reported.

    09:08 (IST)19 Dec 2018
    Expert take: Mustafa Nadeem, CEO, Epic Research's technical picks for December 19, 2019

    A dip was seen to 10800 while a rebound from that level further pointed that writers are aggressive at 10800 - 10700 while on upside long build up in seen at 11000 - 10900 strikes. Hence lower levels should be picked for buying and getting in the momentum for a possible upside to 11050. Only resistance we observe is placed at 10950 which needs to be taken out aggressively.

    Stocks:

    INDIGO - Stock has given the breakout of the trend-line on the daily chart on a closing basis with volume breakout and closed near to days high. We recommend buying above 1125 for the target of 1135 with the stop loss of 1115.

    BHEL - Stock outperformed well with good volumes closed near today’s high. It also gave a trend-line breakout on a closing basis with average volumes. We recommend buying above the 70.20 for the target of 71.20 with the stop loss of 69.50.

    KAJARIACER - Stock gave a breakout of trend line on a closing basis on the daily chart with good volumes. The RSI is also looking strong on the daily chart. We recommend buying above the 462 for the target of 465 with the stop loss of 458.

    09:07 (IST)19 Dec 2018
    US dollar wallows near 1-week low as Fed’s policy signal awaited

    The dollar languished close to one-week lows on Wednesday as investors wagered the Federal Reserve would slow the pace of U.S. monetary tightening after its keenly-watched policy meeting later in the day. The safe-haven yen and the Swiss franc held a firm tone in early Asian trade as an overnight plunge in oil prices provided yet another reminder of the deteriorating global growth prospects, and underscored why traders expect the Fed will likely be done after an expected rate hike this week. “The positioning going into the FOMC meeting is very defensive and that’s why we are seeing the dollar weakening,” said Michael McCarthy, chief markets strategist at CMC Markets.

    Read full story here: US dollar wallows near 1-week low as Fed’s policy signal awaited

    09:05 (IST)19 Dec 2018
    US stocks: S&P flat as government shutdown threat, Fed decision loom

    The benchmark S&P 500 stock index ended little changed in a choppy trading session on Tuesday as the possibility of a partial U.S. government shutdown raised investor jitters ahead of a highly anticipated meeting of the Federal Reserve. The Dow Industrials and the Nasdaq posted slight gains, however, as shares of Boeing Co and the group of internet-focused momentum stocks known as FAANG rose. The S&P 500 had risen as much as 1.1 percent earlier in the session but gave up most of its gains after U.S. Senate Majority Leader Mitch McConnell said Democrats had rejected his spending bill proposal. Without the passage of a spending bill, several government agencies are at risk of a shutdown, Reuters reported.

    Share market on Tuesday: After opening lower tracking Asian and US markets, Sensex and Nifty reversed losses in the afternoon trade, led by a rally in the shares of Sun Pharma and Vedanta. The 30-share index closed 77 points higher at 36,347.08, while the broader Nifty 50 surged past the 10,900-mark. Earlier, the Sensex slumped 213 points in the opening trade to 36,047.49 after S&P 500 closed at a 14-month low on concerns about slowing economic growth. Sun Pharma share price gained by more than 3.3% to hit the day’s high at 434.90.