Market highlights: Nifty tops 12,100, Sensex up 400 pts, govt to announce steps to tackle coronavirus impact on economy

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Updated: February 19, 2020 4:26:46 pm

Share Market News Today | Sensex, Nifty, Share Prices highlights: Nifty FMCG index gained 500 points led by Jubilant Foodworks, HUL, Nestle India and Colgate-Palmolive. Similarly, Nifty Pharma index, too, ended higher.

 

Share Market Today, Share Market LiveBajaj Finance was the top index gainer with a growth of 2.79 per cent, followed by HUL, RIL, ONGC and HDFC.

Share Market News Today | Sensex, Nifty, Share Prices highlights: Domestic benchmark indices Sensex and Nifty bounced back from a 4-day losing streak to end near day’s high on Wednesday amid volatility. The S&P BSE Sensex ended 429 points or 1 per cent higher at 41,323 while NSE’s Nifty rallied 133 points or 1 per cent to settle at 12,126 points. As many as 21 out of 30 Sensex stocks finished the trade in green. Bajaj Finance was the top index gainer with a growth of 2.79 per cent, followed by HUL, RIL, ONGC and HDFC. On the flip side, Sun Pharma, top Sensex loser, declined 1.33 per cent. TCS, Bharti Airtel, LT, IndusInd Bank and Maruti were among other laggards. All the Nifty sectoral indices ended in green today. Nifty FMCG index gained 500 points led by Jubilant Foodworks, HUL, Nestle India and Colgate-Palmolive. Similarly, Nifty Pharma index, too, ended higher with Aurobindo Pharma, Cadila Healthcare and Piraml Enterprises as the top index gainers. Broder markets outperformed the equity benchmarks. The S&P BSE MidCap index gained 206 points or 1.34 per cent to close at 15,632, while the S&P BSE SmallCap index settled 204 points or 1.41 per cent at 14,671 points.

There are no concerns related to price rise so far due to Coronavirus, Finance Minister Nirmala Sitharaman on Tuesday said, adding that it’s early to talk about the impact of Coronavirus on the government’s Make in India mission. The government will soon announce measures to deal with the impact of the Coronavirus outbreak on the domestic industry, Finance Minister Nirmala Sitharaman said on Tuesday. There is no crisis situation yet as raw materials are available, said Nirmala Sitharaman in her press conference discussing the impact of the Coronavirus outbreak on Indian trade and business.

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Highlights

    15:22 (IST)19 Feb 2020
    Vodafone Idea shares skyrocket 48% due to this reason; check what investors should do with stock

    Vodafone Idea shares surged as much as 48 per cent to Rs 4.49 apiece on BSE in Wednesday’s trade following the reports that the government is unlikely to invoke the firm’s bank guarantees. As the government officials from the finance and the telecom ministry met today, they indicated doing all that is possible to retain at least three private players in the industry, Technical analyst Milan Vaishnav, CMT, MSTA, told Financial Express Online. Vodafone Idea Chairman Kumar Mangalam Birla met Telecom Secretary Anshu Prakash yesterday and denied to respond to queries on whether or not Vodafone Idea would default on payment of AGR dues or if the company could head towards insolvency.

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    15:17 (IST)19 Feb 2020
    Dmart share price up by 2.32%, promoters shareholding now at 74.99%

    Avenue Supermarts, the parent company of Dmart, has informed the stock exchanges that its promoters have successfully reduced it shareholdings with the recent OFS to 74.99%. The shares held by Radhakishan Damani and family stood at 77.27% before the OFS which took place on February 14 and February 17.

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    13:52 (IST)19 Feb 2020
    Bank stocks in the green today

    Nifty PSU is up 0.70 per cent today; Nifty Private Bank has gained 0.56 per cent and Nifty Bank index has gained 0.64 per cent. IDFC First Bank has gained more than 3 per cent as hopes of government relief could be around the corner for stressed telecos. Bank stocks were down yesterday as fear of spike in NPAs due to exposure to the telecom sectors loomed large.

    13:30 (IST)19 Feb 2020
    Tata Motors share price slips 3% as Jaguar Land Rover says Coronavirus will impact business

    Share price of Tata Motors slipped 3 per cent on Wednesday to trade at Rs 156.70. The passenger and commercial vehicle manufacturer draws significant revenue from sales in China through its subsidiary Jaguar Land Rover.

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    13:14 (IST)19 Feb 2020
    Shree Cement share price jumps 6% after Nifty50 inclusion; YES Bank shares face heat

    Shares of Shree Cement jumped nearly 6 per cent from previous close Wednesday after inclusion in the benchmark Nifty index. The stock will replace YES Bank in the index from March 27. However, YES Bank shares plunged after exclusion. While shares of Shree Cement were trading at Rs 24,500, up 722.75 points, or 3.04 per cent, YES Bank was down 1.71 per cent at Rs 34.45. Yes Bank shares opened weak in the intraday trade today at Rs 34, then lost ground and hit day’s low of Rs 33.60, down 4.13 per cent over the last close.

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    13:11 (IST)19 Feb 2020
    Vodafone Idea share price jumps 48% in trade today

    Vodafone Idea share prices surged as high as 48 per cent at Rs 4.49 apiece in today's trade on BSE.

    12:39 (IST)19 Feb 2020
    Amid economic slowdown, movie business is rare exception; how ‘Lipstick effect’ is boosting growth

    While many sectors are reeling under an economic slowdown in India, the film industry is an outlier and has been witnessing a healthy growth with increased footfall. Three reasons have fueled the performance of the industry including the ‘Lipstick effect’, a CARE Ratings report said on Tuesday. ‘Lipstick effect’ is a concept in economics where people tend to indulge in small luxuries even when there is a slowdown or recession. So, instead of buying big-ticket luxury items, women tend to buy costly lipsticks, according to the theory. “For this reason, film exhibition business tends to be resilient and benefits even during economic downturns,” the report said.

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    12:28 (IST)19 Feb 2020
    Even as green shoots in economy spring up, one major concern exists; here’s what Shaktikanta Das says

    Even as the government is confident about the economic recovery, RBI Governor Shaktikanta Das said that there are many positive trends visible but it has to be seen whether they are sustained. In an interview with The Indian Express, Shaktikanta Das added that the FDI numbers, bank credit to the commercial sector, and the overall fund flow have improved. However, he underlined that it is lower on an on-year basis, but still, it is picking up and its sustenance has to be checked.

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    12:21 (IST)19 Feb 2020
    IRCTC share price jumps 460% against issue price; hits fresh record high; check stock movement so far

    IRCTC share prices rose as much as 9.6% to hit a fresh record high of Rs 1,798 apiece on Wednesday ahead of the commercial run of Kashi Mahakal Express from Thursday, February 20. Last week, IRCTC posted a 179.65 per cent on-year rise in the profit at Rs 205.80 crore in the quarter ended December 31. The company had posted a profit of Rs 73.59 crore in the corresponding quarter of last year. IRCTC has also declared an interim dividend of Rs 10 on face value of Rs 10. Around 12 noon, IRCTC shares were trading 8.17 per cent higher at 1773.15 apiece on BSE.

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    11:52 (IST)19 Feb 2020
    Reliance Industries leads the gainers on S&P BSE Sensex

    Reliance Industries Limited share price has gained 2.50 per cent as investors react to the news that Mukesh Ambani led RIL and Saudi Arabian national petroleum and natural gas company Saudi Aramco, have expedited talks of refinery stake sale talks.

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    11:33 (IST)19 Feb 2020
    Kotak Mahindra Bank share price at a 52-week-high after RBI approval on promoters' shareholding

    The Reserve Bank of India has granted final approval to Kotak Mahindra Bank's plan to dilute promoters shareholdings. With this, shares of Kotak Mahindra Bank hit a 52-week-high.

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    11:26 (IST)19 Feb 2020
    Gold, silver prices trade higher today as new coronavirus cases fall in China

    After the yellow metal hit an all-time high in the previous session, gold prices were trading higher on Wednesday following an uptick in equities as new coronavirus cases have fallen. The gold April futures were trading flat to negative at Rs 41,410 per 10 grams, while the silver March futures were ruling at Rs 47,432 per kg, up Rs 229 or 0.48 per cent.

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    11:12 (IST)19 Feb 2020
    SEBI’s new order may hit mutual fund penetration in B30 towns and beyond

    Indians are mostly risk-averse investors and prefer to stay away from market risks unless properly advised about the benefits of taking calculated risks to meet long-term financial goals and persuaded to test the water with small investment. Most importantly, they also need counseling to stay invested during short-term market turmoils.

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    11:10 (IST)19 Feb 2020
    I like PM Modi a lot, saving big trade deal for later, says Donald Trump

    US President Donald Trump is going to visit India next week. Trump has expressed excitement about his Ahmedabad visit where a grand welcome event is planned in the newly-constructed Motera Stadium. Talking to media at Joint Base Andrews, Trump said that he likes India’s Prime Minister Narendra Modi a lot and added that seven million people will be there to welcome them between the airport and the event location. Trump said that the event is being planned in the world’s largest stadium and it’s going to be very exciting and everyone will enjoy it.

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    11:07 (IST)19 Feb 2020
    RBI “closely and intensively” monitoring top 50 NBFCs: Shaktikanta Das

    India’s NBFC sector has been facing liquidity crisis for sometime now. On the same, Shaktikanta Das said that the central bank is “closely and intensively” monitoring the top 50 NBFCs. These 50 Non Banking Financial Companies account for roughly 75% of the total NBFC portfolio. RBI will endeavour “to ensure that no large systemically important NBFC collapses”, The Indian Express cited Shaktikanta Das as saying. “We are very mindful of the aspect of financial stability in the case of banks too. RBI will always ensure that stability of the banking sector is maintained,” he added.

    11:06 (IST)19 Feb 2020
    Demonetisation had positive impact on economy: RBI’s Shaktikanta Das explains why

    It has been over three years since Prime Minister Narendra Modi announced demonetisation of Rs 1,000 and Rs 500 notes and RBI’s Shaktikanta Das, who has on various occasions explained the government’s move, recently said that note ban actually did well to the economy. “I think demonetisation has had positive impact on the economy in terms of formalising the economy, checking the so-called parallel economy/unaccounted money. It is still playing out, I will just say that,” RBI Governor Shaktikanta Das told The Indian Express in an interview. However, upon being asked if the Reserve Bank of India took stock of the impact of demonetisation on sectors such as MSME, Shatikanta Das said that they haven’t.

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    11:05 (IST)19 Feb 2020
    Weak domestic data, muted earnings, concern over global economic growth slowdown likely to weigh on markets sentiment

    “Weak domestic data, muted earnings and the concern over global economic growth slowdown due to coronavirus are likely to weigh on the markets sentiments. Hence, we would remain cautious on the Indian markets in the near term. Investors would keep a watch on the movement of currency and crude oil prices,” Ajit Mishra, VP – Research, Religare Broking Ltd said.

    11:03 (IST)19 Feb 2020
    MCX gold might experience minor pull back: Jigar Trivedi, Fundamental Research Analyst, Commodities, Anand Rathi Shares and Stock Brokers

    MCX gold opened with a small downtick since it hit an all time high yesterday evening at Rs 41,480. The sentiment is still positive. SPDR Gold ETF has hit the highest since November 2016 and all gold-backed ETFs have seen all-time high inflows. China reported more than 2000 casualties and more than 75,000 are reported infected from coronavirus / COVID-19. The safe-haven buying was seen in the dollar index too but that had a little impact on the gold, 'Jigar Trivedi, Fundamental Research Analyst - Commodities, Anand Rathi Shares and Stock Brokers said.

    10:46 (IST)19 Feb 2020
    Aurobindo Pharma share price jumps 15% after USFDA grants EIR to its manufacturing facility

    Shares of Aurobindo Pharma jumped more than 15 per cent on Wednesday morning to trade at Rs 580 apiece on the back of USFDA granting the Establishment Inspection Report (EIR) with VAl status, to the company’s Unit IV manufacturing facility.

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    10:35 (IST)19 Feb 2020
    Sensex, Nifty bounce back from 4-day losing streak, check what’s fuelling markets today

    Bouncing back from a 4-day losing streak, Sensex and Nifty made a strong start on Wednesday as the investors took note of a lower number of new coronavirus cases in China. S&P BSE Sensex reclaimed 41,000 mark, to trade at 41,163.68, up 270 points or 0.66 per cent, while the broader Nifty 50 index was ruling at 12,073, up 80 points or 0.67 per cent. “Weak domestic data, muted earnings and the concern over global economic growth slowdown due to coronavirus are likely to weigh on the market sentiments. Hence, we would remain cautious on the Indian markets in the near term. Investors would keep a watch on the movement of currency and crude oil prices,” Ajit Mishra, VP – Research, Religare Broking Ltd said.

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    10:20 (IST)19 Feb 2020
    Broader markets trade higher

    In the broader markets, S&P BSE MidCap index was trading 179 points or 1.16 per cent up at 15,604, while S&P BSE SmallCap index was ruling at 14,617.51, up 150 points or 1.04 per cent.

    10:20 (IST)19 Feb 2020
    Nifty Auto index trades in red

    All the sectoral indices were trading higher except Nifty Auto index. The Nifty Auto index was down over 0.25 per cent weighed down by Tata Motors, Motherson Sumi, Maruti and Hero MotoCorp. Conversely, the Nifty Pharma index was up over 1.5 per cent led by gains in Aurobindo Pharma, Piramal Enterprises and Biocon.

    09:59 (IST)19 Feb 2020
    Jet Airways buyout: Russian state-owned fund expresses interest in bankrupt airliner

    Russian government-owned Far East Development Fund in consortium with Indian Enso Group on Tuesday expressed interest in the bankrupt Jet Airways. The government-owned fund met lenders over a video-conference and proposed synergizing Jet’s operations with Russia’s flagship carrier, Aeroflot, sources said. The Mumbai-headquartered Enso Group made a presentation to the committee of creditors (CoC) of the grounded airline. Lenders have in-principle agreed to give time till March 9 for interested parties to present a resolution plan for Jet. 

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    09:44 (IST)19 Feb 2020
    Aurobindo Pharma surges 19% in opening trade

    Aurobindo Pharma share price gained 18.75 per cent at Rs 594 apiece on BSE after the company received an establishment inspection report (EIR) from USFDA.

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    09:41 (IST)19 Feb 2020
    Shree Cement gains over 4% in early trade

    Shree Cement shares gained 4.38 per cent to Rs 24,841.65 apiece after NSE said that the company will replace Yes Bank and include in Nifty50 index.

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    09:38 (IST)19 Feb 2020
    Yes Bank drops over 1.5% on Nifty rejig

    Yes Bank shares dropped 1.85 per cent to Rs 34.40 apiece after NSE said that the bank will be excluded from the Nifty50 index.

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    09:31 (IST)19 Feb 2020
    Top gainers on S&P BSE Sensex

    All 30 Sensex stocks were trading in green today. NTPC gained the most at 2.73 per cent. Axis Bank, HCL Tech, SBI and ONGC were the other top performing stocks, up 1.5 per cent each.

    09:30 (IST)19 Feb 2020
    Sensex reclaims 41,000 mark, Nifty above 12K

    S&P BSE Sensex rose as much as 381 points or 0.93 per cent in the opening trade at 41,276.14. The broader Nifty 50 index gained 114 points or 0.95 per cent, to open at 12,107.17.

    09:05 (IST)19 Feb 2020
    Money market to remain closed

    Money market to remain closed on account of Chhatrapati Shivaji Maharaj Jayanti on Wednesday. The Indian rupee plunged by 22 paise to settle at 71.54 against the US dollar on Tuesday.

    08:47 (IST)19 Feb 2020
    Walmart net sales rise 2.3% in Q4FY20; Flipkart leads e-commerce segment

    Walmart on Tuesday said Flipkart led its e-commerce sales in the international segment. E-commerce contributed about 12% of the total segment sales in the three months ended January 2020. Net sales at Walmart International increased by 2.3% year-on-year (y-o-y) to $33 billion in Q4FY20, the US-based retailer said in a statement. Sales for the year to January 2020 stood at $120.1 billion against $120.8 billion in FY19, a fall of 0.6%. Operating income in the international segment dropped to $1.1 billion in Q4FY20 against $1.2 billion in Q4FY19, a decline of 5.6%. Walmart attributed the fall in operating income to “disruption in Chile”.

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    08:34 (IST)19 Feb 2020
    'Neutral' on Glenmark Pharma; PT at Rs 330

    Healthy traction in existing products and addition of in-licensed products facilitated robust growth in India/LATAM. However, the benefit was more than offset by intensified competition in key products in US generics. We maintain our EPS estimate for FY20/21/22. While the US generics business has a strong ANDA pipeline and the DF/Europe/API outlook remains promising, the return ratios are yet to improve meaningfully. Maintain ‘Neutral’. Sales were up 5.1% y-o-y at Rs26.4b (in-line), led by India (+18.2% y-o-y to Rs7.9b; 30% of sales) and LATAM (+54.1% y-o-y to Rs1.6b; 6% of sales) as well as API segment (+9.6% y-o-y to Rs2.6b; 10% of sales). RoW (12% of sales) was muted with 0.4% y-o-y growth to Rs3.4b.

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    08:33 (IST)19 Feb 2020
    Ashok Leyland – Maintain ‘Buy’; fair value at Rs 100

    Ashok Leyland reported Q3FY20 Ebitda of Rs2.3 bn (-65% y-o-y) in Q3FY20, which was 23% lower than our estimates led by lower-than-expected ASPs and lower-than-expected gross margin. We expect M&HCV industry to remain under pressure till H1FY21E due to weak economic scenario and steep price increase post BS-VI implementation. However, we expect domestic CV cycle to revive from H2FY21E onwards. Maintain ‘Buy’ with a revised fair value of Rs100 (from Rs95 earlier). Stock offers 8/12% free cash yield on our FY2021-22E estimates.

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    08:29 (IST)19 Feb 2020
    Nifty rejig: Shree Cement to replace Yes bank

    Yes Bank, the distressed private sector lender, will be excluded from the Nifty50 index, said the National Stock Exchange (NSE). It will be replaced by Shree Cement, which will become a part of the benchmark index. In a statement released by NSE, the exchange said: “The Index Maintenance Sub-Committee (IMSC) has decided to make the replacement of stocks in various indices as part of its periodic review. These changes shall become effective from March 27, 2020.”

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    08:27 (IST)19 Feb 2020
    Asian stocks inch higher

    In the Asian market, MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.01 per cent. Australian shares were up 0.14 per cent, while Japan’s Nikkei stock index rose 0.61 per cent.

    08:27 (IST)19 Feb 2020
    FII and DII data

    On Tuesday, foreign institutional investors (FIIs) sold shares worth Rs 74.39 crore, and domestic institutional investors (DIIs) sold shares of worth Rs 309.43 crore on a net basis, as per the data available on the NSE.

    08:27 (IST)19 Feb 2020
    We would remain cautious on the Indian markets in the near term: Ajit Mishra, VP - Research, Religare Broking Ltd

    Bears continued to dominate the Indian equity benchmark indices, led by unsupportive global cues. Weak domestic data, muted earnings and the concern over global economic growth slowdown due to coronavirus are likely to weigh on the market sentiments. Hence, we would remain cautious on the Indian markets in the near term. Investors would keep a watch on the movement of currency and crude oil prices, says Ajit Mishra, VP - Research, Religare Broking Ltd.

    08:24 (IST)19 Feb 2020
    Steps like a waiver of import duties may be considered: V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services

    Even though the impact of the Coronavirus on the Indian economy has been limited so far, there is a risk that industries like pharma & electronics may be seriously impacted if the disruption in supply chains persists for long. It is important that the government take precautionary steps to look for alternative sources of supply. Steps like a waiver of import duties may be considered since imports from alternative sources will be costlier, says Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

    08:22 (IST)19 Feb 2020
    Market sentiments continued to be affected by the coronavirus outbreak: Deepak Jasani, Head Retail Research, HDFC Securities

    Indian markets could open mildly positive today despite mixed US markets on Tuesday but largely positive Asian markets today. The rupee ended weaker at Rs 71.56 against the dollar on Tuesday versus Rs 71.29 against the dollar on Monday. Indian markets corrected further on Tuesday for the fourth consecutive session. In the process it formed the longest losing streak of 2020. A sharp recovery from the lows helped to curb some of the losses. Market sentiments continued to be affected by the coronavirus outbreak. The Nifty lost 53.3 points or 0.44% to close at 11,992.5. Technically, while the Nifty has corrected Tuesday, it could take support from 11908 while 12098 could provide resistance. For the next few days the index could consolidate in a range between the 11700-12300 levels, says Deepak Jasani, Head Retail Research, HDFC Securities.

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