Market LIVE: Sensex, Nifty rally for second consecutive day; FM Sitharaman says clear signs of recovery in some sectors

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Updated:Feb 12, 2020 3:52:27 pm

Share Market News Today | Sensex, Nifty, Share Prices LIVE: S&P BSE Sensex closed 370 points or 0.90 per cent higher at 41,585 points, while the broader Nifty 50 index settled at 12,201, up 93 points or 0.77 per cent.

 

Share Market Today, Share Market LiveAs many as 23 Sensex stocks finished in green in Wednesday’s trade. HUL was the top gainer with a growth of 5.07 per cent, followed by Kotak Mahindra Bank, Nestle India, ICICI Bank and M&M.

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks Sensex and Nifty closed nearly a per cent higher on Wednesday, tracking positive global cues as the new coronavirus cases in China are declining. S&P BSE Sensex closed 370 points or 0.90 per cent higher at 41,585 points, while the broader Nifty 50 index settled at 12,201, up 93 points or 0.77 per cent. As many as 23 Sensex stocks finished in green in Wednesday’s trade. HUL was the top gainer with a growth of 5.07 per cent, followed by Kotak Mahindra Bank, Nestle India, ICICI Bank and M&M. On the flip side, SBI was the top laggard on the index, down 1.34 per cent. IndusInd Bank, Sun Pharma, UltraTech Cement and Titan were other among losers on the pack. The Nifty FMCG index gained 572 points to end at 30,986 led by gains in HUL, Godrej Consumer Products and Dabur India. However, the Nifty Pharma index settled lower weighed by Piramal Enterprises, Glenmark Pharmaceuticals and Divi’s Laboratories.

In the broader market, S&P BSE MidCap index ended 34 points or 0.21 per cent lower at 15,801, while the S&P SmallCap index finished at 14,734, down 16 points or 0.11 per cent.

“Clear signs of recovery in certain sectors. Seeing consistent improvement in GST collections. Can’t say the government is reluctant to release all economic data. The PMI index, bank credit for retail sector, MSME are seeing signs of positivity. Seeing a bit of relief in realty space with people looking to buy homes now,” Finance Minister Nirmala Sitharaman said at an event today.

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    15:38 (IST)12 Feb 2020
    Sensex, Nifty end higher for second consecutive day

    S&P BSE Sensex closed 355 points or 0.86 per cent higher at 41,571 points, while the broader Nifty 50 index settled at 12,201, up 93 points or 0.77 per cent.

    15:36 (IST)12 Feb 2020
    Market will react tomorrow on CPI and IIP data: Santosh Meena, Senior Analyst, TradingBells

    Indian equity markets are continuing their bullish momentum on the back of buying in heavyweights and short-covering by FIIs in index future. Global tailwind is supporting the current bullish momentum in the Indian market and we are outperforming Asian peers post the budget. Large caps are doing well but the broader market is underperforming for the last two days where the advance-decline ratio is in favor of decline. FIIs are covering their short positions in the index future but they are reluctant to buy in the cash market. The market may again head towards an all-time high once FIIs will start buying in the cash market. The market will react tomorrow on CPI and IIP data where we may see some relief in inflation as vegetable prices cooled off and crude oil prices are also falling whereas IIP may give signs of green shoot about recovery in economic growth, says Santosh Meena, Senior Analyst, TradingBells

    15:31 (IST)12 Feb 2020
    PNB Housing Finance, LIC Housing, Indiabulls shares fall as clarity emerges on real estate loan recast

    Shares of housing finance companies such as PNB Housing Finance, Indiabulls Housing Finance and L&T Finance Holdings slumped today after clarity emerged that RBI’s relaxation of real estate loan repayment rules was applicable to only scheduled commercial banks and small finance banks, but not to housing finance companies. Earlier last week, the Reserve Bank of India allowed extending the ‘Date of Commencement of Commercial Operations (DCCO)’ for real estate projects, giving the developers a breather from having to make repayments even before the completion of the projects.

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    15:23 (IST)12 Feb 2020
    PC Jeweller shares surge 20 %

    PC Jeweller shares jumped 20 per cent to Rs 21.40 apiece on BSE in late afternoon deals ahead of December quarter results announcement due tomorrow.

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    15:17 (IST)12 Feb 2020
    ABB India net profit drops 80%

    ABB India's Q4 net profit dropped over 80 per cent on-year; other income at Rs 38.4 crore. The revenue stood at Rs 1,953.3 crore for the quarter ended December 31. ABB India shares were trading 3.52 per cent lower at Rs 1287 apiece on BSE after the company announced its quarterly results.

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    15:10 (IST)12 Feb 2020
    Seeing consistent improvement in GST collections: Nirmala Sitharaman

    “Clear signs of recovery in certain sectors. Seeing consistent improvement in GST collections. Can’t say the government is reluctant to release all economic data. The PMI index, bank credit for retail sector, MSME are seeing signs of positivity. Seeing a bit of relief in realty space with people looking to buy homes now,” Finance Minister Nirmala Sitharaman said at an event today.

    14:47 (IST)12 Feb 2020
    Top gainers and losers on S&P BSE Sensex

    HUL, Kotak Mahindra Bank, Nestle India, ICICI Bank were among top Sensex gainers in the afternoon trade. On the flip side, IndusInd Bank, SBI, Sun Pharma and UltraTech Cement were among the top laggards on the index.

    14:44 (IST)12 Feb 2020
    Forget discounts, this strategy is what can help entrepreneurs attract and retain customers for long-term

    Talking to the end-user of the mobile apps we serve, is one of the most effective ways of keeping in touch with the pulse of the market. It was one such under-cover market research operations when I uncovered the following insight. An average consumer has two-three grocery delivery apps on the phone. When asked about their app of choice for ordering, this is a version of the response that I heard. “I have two apps on my phone for groceries, fruits and vegetable shopping. One is a leading brand, which has been around for years. The other is a startup. But I place my orders more often with the startup. Here’s why?

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    14:32 (IST)12 Feb 2020
    Amid slowdown, private sector investment leads growth revival; these 3 metrics show signs of hope

    Even as the private investment is expected to accelerate going ahead, its sustainability needs to be closely watched, RBI said. The planned capital expenditure from all sources based on the pipeline projects sanctioned in all preceding years points to a marked improvement in FY20, the RBI also said in the monthly bulletin for February 2020. In the data analysis on investment intentions of the private corporate sector in India during FY19 and FY20, the RBI said that the total cost of projects sanctioned surged to Rs 2,53,705 crore in FY19 compared to Rs 2,07,673 crore in FY18. Similarly, the increase continued in the first half of FY20 over the same period of FY19.

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    14:07 (IST)12 Feb 2020
    Hindalco reports 23% rise in consolidated net profit in December quarter

    Hindalco reported a 23.8 per cent on-year decline in consolidated net profit at Rs 1,062 crore. The company had posted Rs 1,394 crore profit in the same quarter of last year. Hindalco shares were trading 0.46 per cent higher at Rs 194.45 apiece on BSE.

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    13:55 (IST)12 Feb 2020
    Bharti Airtel subsidiary to raise $250 million via perpetual bonds

    Network i2i, a subsidiary of Bharti Airtel is planning to raise $250 million through perpetual bonds, according to PTI. Networki2i is a Mauritius based subsidiary of telecom giant Bharti Airtel.

    13:25 (IST)12 Feb 2020
    Oil India share price gains even after poor December quarter results; check target price

     Oil India’s profit slumped 50.1 per cent in the December quarter as production fell and so did realisations. The consolidated profit of Oil India stood at Rs 709 crore down from Rs 1,423 crore in the year ago period.

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    13:05 (IST)12 Feb 2020
    Snapdeal doubling down on these sellers to become dominant e-commerce portal for India’s hinterland

    E-commerce marketplace for value products — Snapdeal is ensuring its strategy to bypass wholesalers and retailers (in the existing channel of selling products online to customers) and allow manufacturers to tap customers directly pays off. The company, having announced last month its plans to add 5,000 more such manufacturer-sellers, has now opened 15 new logistics centres at the industrial clusters located in 10 cities in India. Snapdeal said the new centres will help such sellers manage the delivery of growing online orders, particularly placed by customers based in cities and towns beyond metros given the rise of e-commerce in tier-II and smaller cities where Snapdeal focuses on.

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    12:57 (IST)12 Feb 2020
    HUL shares to continue minting money for shareholders; these factors playing well for the FMCG firm

    Hindustan Unilever share is expected to continue creating wealth for the shareholders, as the FMCG major keeps growing in high teens, driven by premium product sales and cost controls. “The stupendous wealth generation track record of HUL is likely to continue. We raise our target multiple to 50 times FY22E EPS on the merged numbers,” Motilal Oswal Institutional Equities said in a report on Wednesday. The report also revised its HUL share price target to Rs 2,490, with a 16% upside, and maintained ‘Buy’ rating on the stock. HUL was trading at Rs 2,255, its peak price to date, at the time of publishing. The share witnessed a jump of 4.75% in intraday trade.

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    12:38 (IST)12 Feb 2020
    After SBI Cards IPO gets SEBI approval, what should be investment strategy? Here’s what analysts say

    SBI Cards IPO is expected to offer a good option to the investors as the business runs on good margin and low-capital requirement, said analysts. The SBI Cards received in-principle approval from the capital markets regulator SEBI for floating an IPO late Tuesday evening. The country’s largest PSU bank SBI would divest up to 4 per cent stake in SBI Cards through the issue. The SBI Cards IPO would offer a fresh issue of Rs 500 crore and an offer for sale of up to 13,05,26,798 equity shares, according to the DRHP filed with SEBI in November 2019.

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    12:20 (IST)12 Feb 2020
    Thumbs up to FM Sitharaman for not giving in to pressure; fiscal stimulus would’ve made things worse

    Finance Minister Nirmala Sitharaman has been facing tremendous pressure to release fiscal stimulus amid the ongoing economic slowdown. However, it comes as a breather that she didn’t give in to pressure, former Reserve Bank of India Governor Duvvuri Subbarao wrote in The Indian Express today. “That she did not succumb to the temptation is a big relief as any attempt to spend our way out of the growth slump would have been a futile endeavour; worse, it would have triggered deeper problems down the line,” he wrote.

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    11:53 (IST)12 Feb 2020
    Sensex, Nifty continue to trade higher

    S&P BSE Sensex was trading 394 points or 0.96 per cent at 41,460 points, and the broader Nifty 50 was ruling at 12,213 points, up 105 points or 0.87per cent.

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    11:36 (IST)12 Feb 2020
    IRCTC shares jump 3% ahead of Q3 financial results earnings; more than double since listing

    IRCTC share price rose as much as 3.1 per cent to Rs 1449.85 apiece on BSE in Wednesday’s trade ahead of December quarter results due later in the day. Around 10.30 AM, IRCTC was trading 2.36 per cent higher at 1439.25 apiece. IRCTC hit an all-time high of Rs 1,562 last week. IRCTC made its market debut on October 14, 2019. Since then it has more than doubled the investors’ wealth, rising 118 per cent from its listing price of Rs 644 per share.

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    11:22 (IST)12 Feb 2020
    IRCTC shares trade higher ahead of December quarter earnings

    IRCTC shares rose as high as 3.1 per cent to Rs 1449.85 apiece on BSE in Wednesday's trade ahead of December quarter results due later in the day. Around 10.30 AM, IRCTC was trading 2.36 per cent higher at 1439.25 apiece.

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    11:17 (IST)12 Feb 2020
    Gold prices fall today as rupee appreciates

    MCX gold is trading with negative undertone as rupee continued appreciating on the local bourses. Moreover, equities ticked up after China's senior medical adviser suggested the coronavirus epidemic may be over by April, although uncertainty over the impact of the outbreak supported the safe-haven metal. The downside is limited as U.S. President Donald Trump's national security adviser, Robert O'Brien, acknowledged that the coronavirus outbreak could impact the Phase 1 trade deal between the United States and China. For intraday focus will be on the second day of Fed Chairman's testimony. For intraday, there is possibility of gold coming down till support of Rs. 40,300-40,180, says Jigar Trivedi, Fundamental Research Analyst - Commodities, Anand Rathi Shares and Stock Brokers.

    11:01 (IST)12 Feb 2020
    Syndicate Bank share price gains as Q3 profits jump manifold, bad loans decrease

    Syndicate Bank share price jumped more than 2 per cent in the early hours of trade on Wednesday after the public-sector bank reported yesterday that its net profit in the December quarter grew by almost 300 per cent to reach Rs 434.82 crore

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    10:40 (IST)12 Feb 2020
    Syndicate Bank share price jumps on the back of strong Q3 performance

    Syndicate Bank reported a net profit of Rs 434.82 crore in the December quarter. The bank reported a net profit of Rs 107.99 crore in the same period last year.  Syndicate Bank's bad loans have come down 11.33 per cent.

    10:26 (IST)12 Feb 2020
    RIL, HUL lift Sensex 400 points, Nifty above 12,200; key factors contributing to the gains

    Domestic equity market benchmarks Sensex and Nifty were trading nearly a per cent higher on Wednesday tacking cues from largely positive Asian markets. As many as 29 stocks out of 30 Sensex stocks were trading in green. HUL was the top gainer, up over 4% in the early trade, followed by HDFC, Nestle India, Kotak Mahindra Bank, Bharti Airtel and NTPC. On the flip side, IndusInd Bank was the only laggard on the index, down 1.39 per cent, after rating agency Moody’s changed its outlook to ‘negative.

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    10:18 (IST)12 Feb 2020
    New coronavirus cases lowest since January

    China on Wednesday reported its lowest number of new coronavirus cases since late January, lending credence to a prediction from the country’s senior medical adviser that the outbreak could be over by April. International experts, however, remain alarmed by the spread of the flu-like virus which has now killed more than 1,100 people, all but two in mainland China, as per the Reuters report.

    09:56 (IST)12 Feb 2020
    IndusInd Bank has recovered from a gap open down on newsflow of a rating downgrade by Moody’s: S Hariharan, Head - Sales Trading, Emkay Global Financial Services

    Headline indices have opened 1% up once again with weak market breadth as NSE Advance-Decline ratio continues to be around 1:1, and mid and small caps lag large caps in terms of price performance. IndusInd Bank has recovered from a gap open down on newsflow of a rating downgrade by Moody’s, while ICICI Bank is also seeing short-covering after the ADR premium jumped to a 2-sigma high last night. With most quarterly results and event risks behind us, market moves are being largely driven by a global liquidity-driven rally across indices. A pick-up in bank credit growth would be the most meaningful trigger for a resumption of the broader market rally, which has stalled post Budget, says S Hariharan, Head - Sales Trading, Emkay Global Financial Services.

    09:54 (IST)12 Feb 2020
    Hexaware Technologies slips 3% post Q3 earnings

    Hexaware Technologies slipped nearly 3% in the early trade on Wednesday after the company reported a 35.9 per cent on-year rise in net profit to Rs 167.8 crore in the quarter ended December 31.

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    09:49 (IST)12 Feb 2020
    RIL, HUL among top Sensex contributors

    HUL, RIL, HDFC twins, ICICI Bank, Axis Bank are among top index contributors in the morning deals. Around 9.45 AM, Sensex was up 372 points or 0.90 per cent to 41,588 points, while Nifty 50 was ruling above 12,200, up 102 points or 0.84 per cent.

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    09:44 (IST)12 Feb 2020
    HUL up 3% in early trade

    HUL was the top gainer on Sensex pack, up 3.21 per cent to Rs 2,222 a piece on Wednesday in the morning deals.

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    09:42 (IST)12 Feb 2020
    Nifty FMCG index gains 392 points led by gains in HUL, Dabur India

    Barring Nifty Realty index, all the sectoral indices are trading in green. Nifty FMCG index gained 392 points or 1.29 per cent to 30,806 points, led by gains in HUL, Dabur India, Godrej Consumer Products and Colgate Palmolive.

    09:38 (IST)12 Feb 2020
    Frontline indices outperform broader market

    In the broader market, S&P BSE MidCap index was trading 56 points or 0.35 per cent higher at 15,891 points while S&P BSE SmallCap index was ruling at 14,776, up 26 points or 0.18 per cent.

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    09:35 (IST)12 Feb 2020
    IDBI Bank drops over 3%

    IDBI Bank shares slipped 3.5% to Rs 35.70 apiece on BSE after the private sector reported a profit before tax (PBT) at Rs 755.89 crore in the quarter ended December 31

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    09:32 (IST)12 Feb 2020
    MMTC jumps over 6%

    MMTC shares jump over 6% to Rs 20.75 apiece on Wednesday in the early trade on BSE

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    09:18 (IST)12 Feb 2020
    Sensex jumps 250 points, Nifty above 12,150

    S&P BSE Sensex jumped 247 points or 0.60 per cent at 41,464, and the Nifty gained 51 points or 0.42 per cent at 12159 points

    09:05 (IST)12 Feb 2020
    Rupee opens higher against US dollar

    The India rupee opened stronger at 71.23 a dollar vs Tuesday's close of 71.29 against the US dollar.

    08:57 (IST)12 Feb 2020
    Industry 4.0: Pune can be epicentre of fourth industrial revolution

    Henkel Adhesives Technologies India is running a global pilot at its brand new adhesive manufacturing facility in Pune – a smart factory – for implementing fourth industrial revolution (Industry 4.0). Bajaj Auto and Bharat Forge are investing heavily in specific areas of Industry 4.0 relevant to their industry. GE manufacturing plant in Chakan has become a model for Industry 4.0. Pune has the potential to become the epicentre of Industry 4.0 adoption and be a provider not for Indian market but also for global markets with its vibrant manufacturing industry, IT and engineering services industry, premier research institutes, start-up hub and enabling organizations and programmes.

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    08:44 (IST)12 Feb 2020
    Despite weak NBFC growth amid sluggish demand, these 4 stocks good bets for investors

    Even as the non-banking finance companies (NBFCs) see stagnant AUM growth, demand recovery is expected to begin soon, a report said. Some improvement was lately seen in the money supply as NBFCs continued to diversify their borrowing sources toward international and retail markets as against the traditional capital markets, the DBS report also said. Bajaj Finance, HDFC Limited, MMFS, and SHTF are few good bets for the investors in the current scenario, the report added. “We prefer Bajaj Finance (Buy;TP: Rs 4,900), HDFC Limited (Buy;TP:Rs 2,846) and MMFS (Buy;TP: Rs394).

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    08:42 (IST)12 Feb 2020
    GAIL excellent investment opportunity; maintain ‘buy’: Motilal Oswal

    During 9MFY20, GAIL’s performance was hampered by poor gas trading, petrochemicals and LPG business. However, the transmission business fared well owing to increase in implied transmission tariffs. The management has guided for incremental volumes of ~2mmscmd from Ramagundam, ~2.5mmscd from Matix, and ~4mmscmd from Kochi-Mangalore pipeline from 1QFY21, and 8-9mmscmd in Jagdishpur-Haldia pipeline in FY22, which reiterates our thesis from our earlier note.

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    08:42 (IST)12 Feb 2020
    Maintain ‘buy’ on KEC International, Target Price Rs 412: Nomura

    KEC is on track to record ~16% top-line growth in FY20F; order inflows will be the key catalyst to 1HFY21F; easing working capital level and reduction in net debt levels vs 2QFY20 are positives. Maintain buy with TP raised to Rs 412, implying 18% upside in KEC’s 3QFY20 sales at Rs 30.7bn (+16% y-o-y), marginally (~2%) below our estimates but in line with consensus. Other key parameters like Ebitda margins, interest to sales and PBT/PAT margins were also in line with our estimates.

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    08:35 (IST)12 Feb 2020
    FII and DII data

    Foreign institutional investors (FIIs) sold shares worth Rs 209.39 crore, while domestic institutional investors (DIIs) bought shares of worth Rs 344.63 crore in the Indian equity market on Tuesday, as per the provisional data available on the NSE.

    08:34 (IST)12 Feb 2020
    IRCTC, Hindalco to report December quarter earnings

    IRCTC, Divi's Laboratories, Dish TV, NBCC, Info Edge India, Omaxe, PFC, Religare, Hindalco, Aarti Industries, ABB India, Alchemist, Anjani Finance, Bajaj Steel Industries, Centrum Capital, Dharani Sugars & Chemicals, Jamna Auto Industries, Jaiprakash Power Ventures and Mahamaya Steel Industries are among 486 companies that are scheduled to release their quarterly earnings.

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