Market LIVE: Sensex, Nifty off day’s high; Fitch says Indian FIs to continue facing difficult operating environment

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Updated: February 20, 2020 3:44:11 pm

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Nifty PSU Bank index finished 1 per cent higher led by gains in J&K Bank, SBI, Bank of Baroda and Indian Bank. While Nifty FMCG index lost 200 points.

Share Market Today, Share Market LiveAsian Paints was the top laggard on the Sensex pack, down 2.13 per cent, followed by HUL, TCS, RIL, Nestle India and Tech Mahindra

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks Sensex and Nifty extended the losses to close lower on Thursday as the index heavyweights such as HUL, RIL and TCS traded with minor cuts. The S&P BSE Sensex ended 153 points or 0.37 per cent lower at 41,170 points while the broader Nifty 50 index settled at 12,080 points, down 46 points or 0.37 per cent. As many as 16 out of 30 Sensex stocks were trading in red. Asian Paints was the top laggard on the Sensex pack, down 2.13 per cent, followed by HUL, TCS, RIL, Nestle India and Tech Mahindra. On the flip side, IndusInd Bank was the top gainer with a growth of 3.58 per cent. Tata Steel, SBI, Power Grid, ONGC, Bharti Airtel were among other gainers on the index. Sectoral indices traded mixed today. Nifty PSU Bank index finished 1 per cent higher led by gains in J&K Bank, SBI, Bank of Baroda and Indian Bank. While Nifty FMCG index lost 200 points dragged down by HUL, Emami and UBL.

Financial institutions in India will continue to face a difficult operating environment amid the macroeconomic slowdown and weak funding conditions, said Fitch Ratings on Wednesday. The rating firm said that retail-focused non-banking finance companies (NBFCs) and those backed by large corporate groups would be able to tap the markets better, while those with large wholesale books and housing finance companies are the most at risk.

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Highlights

    15:41 (IST)20 Feb 2020
    Sensex ends lower, Nifty gives up 12,100

    The S&P BSE Sensex ended 153 points or 0.37 per cent lower at 41,170 points while the broader Nifty 50 index settled at 12,080 points, down 46 points or 0.37 per cent

    15:21 (IST)20 Feb 2020
    Coronavirus grips Indian economy: Traders at home scared stiff by China’s deadly virus

    Indian retail industry is facing the heat of China’s coronavirus pandemic and traders are worried about supply slump of key materials from China owing to India’s overdependence on its neighbour. “All exports have been completely stopped and it is apprehended that it may cause substantial disruption in the supply chain of the country,” CAIT said in a statement on Thursday. The trade body has also requested the Prime Minister Narendra Modi to constitute a GoM to look into the matter. India, which imports not just finished products from the neighbouring country but also raw materials that are crucial to various industries, is heavily dependent on its neighbour. 

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    15:19 (IST)20 Feb 2020
    Coronavirus may drag global GDP by 1% point if containment delayed beyond June, says report

    The cascading effect of coronavirus epidemic might cause a drag of about a percentage point on global GDP growth, if the containment is delayed beyond June, a report said on Thursday. According to the report by Dun & Bradstreet, the outbreak of coronavirus is already having a considerable impact on the Chinese economy, and its implications will increase for global businesses with operations or suppliers in the region.

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    15:02 (IST)20 Feb 2020
    Good news and bad news: Why rising food inflation may be a mixed bag for farmers

    Even as rising food inflation may have come as a concern for the RBI, farmers growing rice and wheat are likely to benefit as they could receive higher prices for their produce, a report said. However, high food inflation impacts farmers’ consumption of discretionary goods since they could be paying higher prices for food items such as pulses, CARE Ratings said in a report. CPI-based retail inflation has been over 6 per cent of late, with food inflation remaining on the higher side. The retail inflation was recorded at 7.59 per cent in January, much above the medium-term RBI target for the fourth month in a row.

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    14:46 (IST)20 Feb 2020
    Financial Institutions to continue amid macroeconomic slowdown, weak funding: Fitch

    Financial institutions in India will continue to face a difficult operating environment amid the macroeconomic slowdown and weak funding conditions, said Fitch Ratings on Wednesday. The rating firm said that retail-focused non-banking finance companies (NBFCs) and those backed by large corporate groups would be able to tap the markets better, while those with large wholesale books and housing finance companies are the most at risk.

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    14:39 (IST)20 Feb 2020
    Thai retail giant launches record-breaking IPO

    Shares in Central Retail Corporation (CRC) were offered at 42 baht on Thursday morning, but made only a modest quarter baht gain in early trading, with the company eying fundraising of just over 71 billion baht (USD 2.26 billion). "CRC is very proud" to become "the country's largest IPO ever," chief executive Yol Phokasub said.

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    14:26 (IST)20 Feb 2020
    China’s loss India’s gain? India overtakes neighbour in fintech deals amid latter’s slowing economy

    A decline in Q4 2019 fintech deals in China, which has been embroiled in the trade war with the US and facing a slowing economy, has put India ahead of it. While China’s number of fintech deals dropped to 30 in the last quarter of 2019 from 56 deals in the preceding quarter, India recorded 31 deals in the fintech space in the said quarter, according to CB Insights Q4 2019 fintech report. 

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    13:56 (IST)20 Feb 2020
    Vodafone Idea pays Rs 1,000 crore towards AGR dues

    Vodafone Idea on Thursday paid Rs 1,000 crore more to the Department of Telecommunications (DoT) towards its statutory dues, according to news agency PTI. The company had paid Rs 2,500 crore to the government towards AGR dues on Monday. In all, it owes Rs 53,000 crore to the telecom department.

    13:38 (IST)20 Feb 2020
    SBI Cards and Payment IPO opens on March 2. Is it good enough to ‘buy’? Here’s what analysts say

    SBI Cards and Payment Services IPO will open on March 2, now that the company has got the go-ahead from capital market regulator SEBI. The bidding process will close on March 5, 2020, according to the company prospectus. It is expected to be the biggest public issue of the current financial year 2019-20, and aims to raise about Rs 9,000 crore. The company is planning to issue new shares worth Rs 500 crore. Analysts see SBI Cards and Payment Services IPO as a good investment option.

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    13:30 (IST)20 Feb 2020
    Coronavirus hits Modi’s 100 GW solar mission; China’s deadly virus squeezing Indian solar industry

    The outbreak of Coronavirus in China has put a major dent in the Indian solar industry. Since the solar industry heavily depends on China for equipment imports, it is undergoing price pressures which may squeeze solar players working under Narendra Modi’s 100 GW solar mission.

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    13:07 (IST)20 Feb 2020
    After falling 70% in 6 months, Thomas Cook share price gains 20% today

    Share price of Thomas Cook jumped 20 per cent on Thursday as the company announced plans to hold a meeting of the Board of Directors who will consider and approve the proposal for buyback of equity shares of the company.

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    12:24 (IST)20 Feb 2020
    Gold prices rise today to hit fresh all-time high, track gains in global rates;

    Gold prices rose today in India to hit fresh all-time high tracking gains in global markets which are nearing 7-year high. On MCX, gold April futures were trading higher at Rs 41,605 per 10 grams while silver March futures were ruling at Rs 47,647 per Kg, up Rs 77 or 0.16 per cent. “MCX gold April future again hit an all-time high, at Rs 41,798 and trading with a positive undertone. On a weekly basis, it has gained 1.82 per cent, 1.7 per cent on monthly basis and 6.7 per cent on a year to date basis. Gold may stay positive due to fear of a slowdown in global growth due to coronavirus in China. Investment demand has reached a multi year high. Although the dollar is approaching 100 mark, safe haven demand pushed gold higher. The sentiment is positive in the yellow metal but we don’t deny technical correction,” Jigar Trivedi, Fundamental Research Analyst – Commodities, Anand Rathi Shares and Stock Brokers said. 

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    12:08 (IST)20 Feb 2020
    Vodafone Idea share price jumps 18% more after yesterday’s 40% rise; should you ‘buy’ or ‘sell’?

    Vodafone Idea share price continued to surge today, building on yesterday’s stellar 40% gain, ahead of Rs 1,000 crore payment to clear part of the estimated Rs 53,000 crore government dues on Friday. Vodafone Idea shares jumped 18% today to Rs 4.98 apiece on BSE. Despite the rally in Vodafone Idea share price, analysts suggest investors to avoid any fresh investment in the stock. Investors already holding Vodafone Idea shares are advised to exit at share price jumps.

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    11:41 (IST)20 Feb 2020
    Top investment themes for 2020 which may make you rich

    The broader consensus about the Indian economy is that the economy has bottomed out in the last quarter and things are expected to improve from here on.

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    11:26 (IST)20 Feb 2020
    PSU banks lose, again; private banks gain public trust, get major share of new deposits

    Even as PSU banks saw a good run in the first half of the calendar year 2019 with a sharp increase in new deposits, private sector banks are becoming the preferred choice of depositors for parking their money, again.

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    11:13 (IST)20 Feb 2020
    Sensex, Nifty rangebound

    The S&P BSE Sensex was trading just 14 points lower at 41,309 points while the broader Nifty 50 index was ruling at 12,122.20 points. As many as 14 out of 30 Sensex stocks were trading in red. HUL was the top loser on the Sensex pack, down 1.19 per cent, followed by Asian Paint, Nestle India, Kotak Mahindra Bank and HDFC. On the flip side, IndusInd Bank was the top gainer with a growth of 4.25 per cent. 

    11:01 (IST)20 Feb 2020
    Sterlite Technologies share price gains 7%, here’s why this telecom stock is on fire today

    The global data networks provider announced that it has successfully bagged orders word Rs 1,500 crore for 2020. The stock opened at Rs 119, gaining more than 7 per cent from its previous closing at Rs 111.

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    10:40 (IST)20 Feb 2020
    Sensex, Nifty subdued, RIL, HUL top drags; key things to know from today’s trade

    Domestic equity market benchmarks Sensex and Nifty were trading subdued on Thursday as index heavyweights HDFC twins, RIL, HUL and Kotak Mahindra Bank drag. Around 10.15 AM, the S&P BSE Sensex was trading just 14 points lower at 41,309 points while the broader Nifty 50 index was ruling at 12,122.20 points. As many as 16 stocks out of 30 Sensex stocks were trading in red.

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    10:32 (IST)20 Feb 2020
    As provisions swell, RBL Bank stock loses over half its value since May 2019

    BSE data show that RBL Bank's MD and CEO Vishwavir Ahuja has sold two lakh shares in the lender in February through open market, bringing down his stake to 1.95% from 1.98% in December 2019.

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    10:16 (IST)20 Feb 2020
    Looking for solution: Sunil Mittal, KM Birla meet FM Sitharaman as AGR crisis looms

    Even as the department of telecommunications (DoT) and telecom operators struggle to find a solution to the payment of adjusted gross revenue (AGR) dues, Sunil Bharti Mittal, chairman of Bharti Group, and Kumar Mangalam Birla, chairman of Vodafone Idea, met finance minister Nirmala Sitharaman on Wednesday. Though neither spoke anything specific regarding what was discussed in the meeting, what is increasingly becoming clear is that various departments of the government are engaged in looking for a solution which is seen in compliance of the Supreme Court order as well as provides some relief to the telecom sector.

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    09:46 (IST)20 Feb 2020
    IRCTC extends gains, up 6%, hits fresh record high

    Shares of IRCTC gained 6% to hit a fresh record high of Rs 1939 apiece on BSE, ahead of the commercial run of Kashi Mahakal Express today.

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    09:43 (IST)20 Feb 2020
    DHFL jumps 5% on healthy Q3 earnings

    Dewan Housing Finance Corporation shares jumped 5% to Rs 11.39 apiece on BSE in Thursday's trade after the company reported 197 per cent on-year in profit at Rs 934.35 crore.

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    09:36 (IST)20 Feb 2020
    Vodafone Idea shares jumps over 12%

    Vodafone Idea share price jumped over 12 per cent to trade at Rs 4.71 apiece on BSE. In the previous session, Vodafone Idea shares skyrocketed 48 per cent in the intraday trade.

    09:34 (IST)20 Feb 2020
    Thomas Cook share price rallied 14%

    Shares of Thomas Cook rallied over 14 per cent to trade at Rs 47 apiece on BSE on Thursday as the board will consider share buyback on February 26.

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    09:31 (IST)20 Feb 2020
    Nifty Metal index dropped over 0.5%

    Most of the sectoral indices were trading mixed today. Nifty Metal index was trading over 0.5 per cent lower weighed by SAIL, National Aluminium, Coal India and Vedanta. While Nifty Pharma index was up over 1 per cent led by gains in Aurobindo Pharma, Glenmark and Divi’s Laboratories.

    09:31 (IST)20 Feb 2020
    Broader markets bullish

    Broader markets outperformed the benchmark indices. The S&P BSE MidCap index gained 51 points or 0.33 per cent to 15,683 points, while S&P BSE SmallCap index was ruling at 14,675, up 37 points or 0.25 per cent

    09:30 (IST)20 Feb 2020
    Top gainers and losers on S&P BSE Sensex

    Kotak Mahindra Bank was the top loser on the Sensex pack, down 1.13 per cent, followed by HDFC, Asian Paint, Ultra Cements, HUL and HDFC Bank. On the flip side, IndusInd Bank was the top gainer with a growth of 2.87 per cent. Sun Pharma, ONGC, Bharti Airtel, Hero MotoCorp were among other gainers on the index.

    09:17 (IST)20 Feb 2020
    Sensex, Nifty open lower

    S&P BSE Sensex was trading 90points or 0.22 per cent lower at 41,233, while the broader Nifty 50 index was ruling at 12,096 points, down 30 points or 0.25 per cent.

    09:04 (IST)20 Feb 2020
    Rupee opens lower against US dollar

    The Indian rupee opened lower at 71.79 a dollar vs Tuesday's close of 71.56 a dollar.

    08:51 (IST)20 Feb 2020
    Namaste Trump: No India-US bilateral trade deal but lots on the plate

    Accompanied by a very strong official delegation, the US President Donald Trump and First Lady Melania Trump are arriving for a two-day visit on Monday, February 24. His three-leg visit will start from the first stop in Ahmedabad, Gujarat, and Prime Minister Narendra Modi’s home state. The state is very important as it is an important part of India’s Independence Movement and Father of the Nation Mahatma Gandhi’s life. The two leaders will also inaugurate World’s largest stadium.

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    08:43 (IST)20 Feb 2020
    Could inflation be the biggest surprise in 2020?

    The concern about India’s ebbing growth is everywhere. Proponents of a big fiscal boost and sharp policy rate cuts still fret. The recent spike in headline CPI inflation bothers none. Reasons are obvious—RBI sees its one-year-ahead inflation forecast way below target (3.2%), and almost all analysts concur. There is merit in their position—so far, inflation has mostly raised food prices that have begun to correct, albeit slower than many expected. Those who focused too narrowly on onion prices alone were surprised to see its spread to other food items in recent months. But, that is not a big worry. What matters is core inflation—this depends mostly upon the output gap or demand, and is large in a deep, cyclical slowdown!

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    08:30 (IST)20 Feb 2020
    Looking for solution: Sunil Mittal, KM Birla meet FM Sitharaman as AGR crisis looms

    Even as the department of telecommunications (DoT) and telecom operators struggle to find a solution to the payment of adjusted gross revenue (AGR) dues, Sunil Bharti Mittal, chairman of Bharti Group, and Kumar Mangalam Birla, chairman of Vodafone Idea, met finance minister Nirmala Sitharaman on Wednesday. Though neither spoke anything specific regarding what was discussed in the meeting, what is increasingly becoming clear is that various departments of the government are engaged in.

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    08:18 (IST)20 Feb 2020
    FII and DII data

    On Wednesday, foreign institutional investors (FIIs) sold shares worth Rs 190.66 crore, while domestic institutional investors (DIIs) bought shares of worth Rs 590.12 crore on a net basis, as per the data available on the NSE.

    08:17 (IST)20 Feb 2020
    Asian stocks edge up

    In Asian markets, MSCI’s broadest index of Asia-Pacific shares outside Japan ticked up 0.1 per cent. Buoyed by the cheaper yen, Japan’s Nikkei rallied 1.5 per cent. Markets in Australia and New Zealand minted record highs.

    08:16 (IST)20 Feb 2020
    US stocks gain

    On Wall Street, the Dow Jones Industrial Average rose 115.84 points, or 0.4 per cent, to 29,348.03, the S&P 500 gained 15.86 points, or 0.47 per cent, to 3,386.15 and the Nasdaq Composite added 84.44 points, or 0.87 per cent, to 9,817.18.

    08:15 (IST)20 Feb 2020
    Positive cues were witnessed in market: Vinod Nair, Head of Research at Geojit Financial Services

    Positive cues were witnessed in the market on hopes that the government is planning to consider some relief measures for the ailing telecom players. On the global front, there is a decrease in new virus cases and close to 80% of the Chinese enterprises are back to work indicating a possible economic recovery, says Vinod Nair, Head of Research at Geojit Financial Services.

    08:13 (IST)20 Feb 2020
    Traders should keep a close watch on the world markets for further cues: Ajit Mishra, VP - Research, Religare Broking Ltd

    Markets rebounded sharply and gained over a percent, after four successive days of fall. The benchmark opened gap up, taking cues from the global indices which ended on a positive note, in response to the slight drop in the new cases of coronavirus. Besides, the follow-up buying in the select index majors further fuelled the recovery. On the sectoral front, all the sectoral indices participated in the move and the market breadth too was inclined on the advancing side. Markets are currently dancing to the global tunes and we do not see this scenario changing anytime soon. Traders should keep a close watch on the world markets for further cues. Since we’re seeing a mixed trend on the sectoral front, the focus should be on stock selection and trade management, says Ajit Mishra, VP - Research, Religare Broking Ltd

    08:12 (IST)20 Feb 2020
    Bulls and Bears are in a tug of war as either side is looking to dominate: Manav Chopra, CMT, Head Research - Equity, Indiabulls Ventures Ltd

    Bulls and Bears are in a tug of war as either side is looking to dominate. Market breadth was strong after several sessions. Nifty is meandering near the gate of the resistance zone which is a make or break situation. If bulls were to overpower, they will have to push the index well beyond the 12,100 zone on a sustainable basis. Few closing above 12,100 will be important to watch out. We continue to remain bullish on Pharma space, especially mid-caps. Expect stock-specific bullish activity to continue while the index finds a direction, says Manav Chopra, CMT, Head Research - Equity, Indiabulls Ventures Ltd.

    08:11 (IST)20 Feb 2020
    Indian markets could open flat today despite positive US markets: Deepak Jasani, Head Retail Research, HDFC Securities

    Indian markets could open flat today despite positive US markets on Wednesday and mixed Asian markets today. The S&P 500 and Nasdaq finished at all-time highs Wednesday as investors were encouraged by comments from the Federal Reserve and measures China says it has taken to help coronavirus-stricken businesses. Technically, with the Nifty bouncing back sharply, the bulls seem to have made a comeback. Further upsides are likely once the immediate resistances of 12160 are taken out. Crucial supports to watch for resumption of weakness are at 12042. Among stocks under coverage, Bajaj Fin, Torrent Pharma, Voltas, HUL, STFC, United Spirits, JK Cement, PVR, Tech M, Mindtree, NAM India, ICICI Sec, Infy, Reliance, Wipro, NIIT Tech, M&M FSL, MCX could do well, says Deepak Jasani, Head Retail Research, HDFC Securities.

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