Share Market LIVE: Private bank stocks drag Sensex, Nifty; RBI says turnaround in investment cycle likely

By: |
Updated:Feb 13, 2020 3:54:38 pm

Share Market News Today | Sensex, Nifty, Share Prices LIVE: S&P BSE Sensex ended 174 points or 0.42 per cent lower at 41,392 points, while the broader Nifty 50 index settled at 12,174 points, down 27 points or 0.22 per cent.

Sensex, NiftyAt the index level, IndusInd Bank was the top Sensex loser, down 3.54 per cent, followed by NTPC, Tata Steel, ICICI Bank, Kotak Mahindra Bank and ONGC

Share Market News Today | Sensex, Nifty, Share Prices LIVE: After a strong run in past two sessions, domestic equity market benchmarks Sensex and Nifty ended lower on Thursday dragged by private bank stocks. S&P BSE Sensex ended 174 points or 0.42 per cent lower at 41,392 points, while the broader Nifty 50 index settled at 12,174 points, down 27 points or 0.22 per cent. Apart from private bank stocks, HDFC, ITC, Asian Paints were among the major contributors to today’s fall. At the index level, IndusInd Bank was the top Sensex loser, down 3.54 per cent, followed by NTPC, Tata Steel, ICICI Bank, Kotak Mahindra Bank and ONGC. However, Titan was the top gainer on the index, up 2.42 per cent at Rs 1,299. SBI, Sun Pharma, M&M, TCS and Infosys were among the top gainers. Sectoral indices traded mixed in today’s session. The Nifty Bank index dropped 263 points to close at 31,230, dragged by losses in IndusInd Bank, RBL Bank, ICICI Bank and Kotak Mahindra Bank. Nifty Financial Services index, too, settled lower with weakness in Indiabulls Housing Finance, ICICI Bank, Kotak Mahindra Bank and HDFC. In the broader market, S&P BSE MidCap index ended 23 points or 0.15 per cent lower at 15,765.72, while S&P BSE SmallCap index finished flat at 14,732 points.

Meanwhile, the index of industrial production (IIP) shrunk by 0.3 per cent in the month of December 2019. However, the retail inflation inched up to a six-year high in January and was recorded at 7.59 per cent.

With a 42% rise in the planned capital expenditure for 2019-20 by the private corporate sector, the beginning of a turnaround in the investment cycle is likely, said an article published by the Reserve Bank of India (RBI). The planned capex is estimated to rise to Rs 1.2 lakh crore in 2019-20, up 42% from Rs 84,602 crore in the previous year.  The aggregate envisaged capex for 2019-20 will also depend on the level of corporate investment, including fresh projects sanctioned during the year. A total of 423 projects were sanctioned Rs 1.87 lakh crore through various channels.

Read More

Live Blog

Highlights

    15:38 (IST)13 Feb 2020
    Sensex, Nifty snap 2-day rally, end lower

    S&P BSE Sensex ended 186 points or 0.45 per cent lower at 41,380 points, while the broader Nifty 50 index settled at 12,174 points, down 27 points or 0.22 per cent.

    15:36 (IST)13 Feb 2020
    Coronavirus: China’s small businesses likely to take maximum hit as MSMEs dominate affected region

    The deadly Coronavirus outbreak in mainland China, which has caused 1,369 deaths globally so far as per Worldometer data, is likely to take a toll on the region’s businesses particularly the micro and small businesses. The impacted region, which consists of 19 provinces in the country, has 89 micro and small businesses, according to a Dun & Bradstreet report titled Business Impact of the Coronavirus announced on Wednesday. Out of this, 70 per cent are micro-enterprises which have less than 10 employees while 19 per cent are small businesses which have a headcount of less than 100 employees.

    Read full story

    15:35 (IST)13 Feb 2020
    Uber cabs to become new billboards for ads as company looks to enter this new business

    Uber India, on the lines of Amazon and Flipkart, seems set to further monetise its cabs plying on Indian roads as the SoftBank-backed ride-hailing company and Ola’s competitor is looking to convert its cabs into space available for advertising. Uber in a regulatory filing has proposed to tweak its memorandum of association to “enter into a new line of business” to “carry on in India or abroad the business of marketing, advertising, and branding for itself or third parties,” the company said in the filing. Uber had reported a profit of $6 million for FY19 up from $3.7 million in FY18.

    Read full story

    15:07 (IST)13 Feb 2020
    Sensex, Nifty pare losses partially

    S&P BSE Sensex was trading 105 points or 0.25 per cent lower at 41,460 points, while the broader Nifty 50 index was ruling at 12,175, down 25 points or 0.21 per cent.

    Check live prices

    14:52 (IST)13 Feb 2020
    Dr. Reddy’s Laboratories share price hits 52-week high after finalising deal with Wockhardt

    A day after entering into a definitive agreement with Wockhardt Limited to acquire select divisions of its branded generic business, shares of Dr, Reddy’s Laboratories hit a 52-week high of Rs 3,289.60 up from its opening price of Rs 3,222.75. The deal, worth Rs 1,850 crore will see Dr. Reddy’s acquire business in countries such as Nepal, Sri Lanka, Bhutan, and Maldives. On the other hand share price of Wockhardt was down 3.63 per cent, trading at Rs 353.60.

    Read full story

    14:35 (IST)13 Feb 2020
    Vakrangee reports 478% on-year rise in Q3 profit, shares up 2.6%

    Vakrangee reported a 478 per cent on-year rise in net profit at Rs 21.4 crore in the third quarter of the financial year 2019-20. The company had posted a 3.7 per cent net profit in the corresponding quarter of last year. Vakrangee shares were trading 2.66 per cent higher at Rs 44.40 apiece on BSE.

    Check live prices

    14:31 (IST)13 Feb 2020
    Gillette India rises post Q3 earnings

    Gillette India's net profit rises to Rs 71.1 crore in the quarter ended December 31. After Q3 earnings, the shares of Gillette India were trading 1.45 per cent higher at Rs 6,498.45 apiece on BSE.

    Check live prices

    14:14 (IST)13 Feb 2020
    3 stocks that may gain from Coronavirus; check top agri, plastic shares to buy amid global epidemic

    The coronavirus has impacted India’s imports from China, and has disrupted the supply chains across the world. India is at 17th position among the 30 countries most prone to import cases of coronavirus. Indira Gandhi International Airport in Delhi is the most prone area in India, according to a recent study by the Humboldt University in Berlin. However, this could be a relief for domestic companies who compete with China. “Electronic equipment, organic chemicals, fertilizers and plastics are top import areas from China that are going to get the benefit of fall in imports from China,” Santosh Meena, Senior Analyst, TradingBells. Given below are some stocks that are expected to gain from India’s falling imports:

    Read full story

    13:55 (IST)13 Feb 2020
    Dr. Reddy's Laboratories hits 52-week high

    A day after acquiring select businesses of Wockhardt Limited,  share price of Dr. Reddy's Laborataries has hit a 52-week high of Rs 3,289 on Thursday.  The business comprises a portfolio of 62 brands in multiple therapy areas such as Respiratory, Neurology, VMS, Dermatology, Gastroenterology, Pain and Vaccines, said the company in a press release.

    13:35 (IST)13 Feb 2020
    Mahindra EPC Irrigation to get listed on NSE on Friday

    The National Stock Exchanges has approved the application of Mahindra EPC Irrigation to list its shares on the market, said the company. The shares will be listed Friday. Mahindra EPC is an agriculture solutions company.

    13:02 (IST)13 Feb 2020
    Coal India shares continue weak run, here’s how much investors have lost since listing

    Coal India shares have burnt a deep hole in the pockets of investors who bought it during the initial days, now trading at nearly half the price it hit on the day of its listing on the stock exchanges over nine years ago. On November 4, 2010, Coal India started trading at a price of Rs 287.75 and ended the day at Rs 342. Now the stock trades at Rs 177.10. Coal India stock fell further 2 per cent on Thursday morning after its third quarter results gave little hope of reviving the share price, which is down 49.11 per cent since the day it was listed on the bourses.

    Read full story

    12:53 (IST)13 Feb 2020
    ITC hikes cigarette prices after FM Sitharaman’s Budget announcement

    FMCG major ITC has hiked its cigarette prices days after Finance Minister Nirmala Sitharaman’s Budget proposal to raise excise duty on tobacco and cigarettes. There has been a price increase, an ITC spokesperson told Financial Express Online, without divulging details. Earlier, the Financial Express had reported that ITC, which is India’s largest cigarette maker, is likely to incorporate a price revision due to an increase in the National Calamity Contingent Duty (NCCD) component. The NCCD component has been revised upward between 212% and 388% depending on cigarette stick size. NCCD is a duty on the excise.

    Read full story

    12:32 (IST)13 Feb 2020
    TikTok, Whatsapp, Twitter, FB bound to reveal info if govt asks; 400 million users to lose privacy

    Facebook, YouTube, Twitter and TikTok will have to reveal users’ identities if Indian government agencies ask them to, according to the country’s controversial new rules for social media companies and messaging apps expected to be published later this month. The requirement comes as governments around the world are trying to hold social media companies more accountable for the content that circulates on their platforms, whether it’s fake news, child porn, racist invective or terrorism-related content. India’s new guidelines go further than most other countries’ by requiring blanket cooperation with government inquiries, no warrant or judicial order required.

    Read full story

    12:08 (IST)13 Feb 2020
    No respite from soaring retail inflation anytime soon, no visibility on RBI interest rate cuts

    With inflation raising its ugly head once again, no respite is expected for the common man anytime soon, analysts said. Even the RBI may take a longer break from cutting interest rates again, they added. However, more worrying is a narrower-than-expected fall in the inflation for vegetables which accounted for a large part of the surge in the previous month, analysts also said. Other than the rising core inflation, escalation in prices of services items is also a major concern for the economy. The CPI-based retail inflation surged to nearly a 6-month high of 7.59 per cent in January 2020 as against 7.35 per cent in December 2019, beating estimates.

    Read full story

    11:42 (IST)13 Feb 2020
    You are paying much more for household items in these three states; CPI inflation at nearly 10% here

    Retail inflation (CPI) in India stood at a 68-month high in the month of January but the impact is mostly felt in the three Indian states. The inflation rate in these states has almost touched the 10 per cent mark, which is far beyond RBI’s upper benchmark. These states are Uttar Pradesh, Odisha and Telangana, which have recorded the inflation rate as 9.7 per cent, 9.72 per cent, and 9.55 per cent respectively, according to the data released by the Ministry of Statistics & Programme Implementation. Apart from them, the other three states that have inflation rate closing to 9 per cent are Haryana, West Bengal, and Tamil Nadu.

    Read full story

    11:31 (IST)13 Feb 2020
    Gold prices rise amid jump in death toll from coronavirus, silver rates trade higher

    Gold and silver were trading higher on Thursday after a sharp jump in the death toll from coronavirus in China. Gold April futures were trading Rs 206 or 0.51 per cent higher at Rs 40,690 per 10 grams, while silver March futures were ruling at Rs 45,881 per Kg, up Rs 381 or 0.84 per cent on MCX. Oil prices rose on the hopes that major producers are likely to enact deeper output cuts to offset the slump in demand caused by the coronavirus outbreak in China, the world’s second-largest crude consumer.

    Read full story

    11:10 (IST)13 Feb 2020
    Rupee slips 9 paise to 71.42 against US dollar in early trade

    The rupee opened on a weak note and declined by 9 paise to 71.42 against the US dollar in opening trade on Thursday after weak macro-economic data disappointed market participants. Forex traders said disappointing macroeconomic numbers weighed on the local unit. Government data on Wednesday showed that industrial output contracted by 0.3 per cent in December, while retail inflation jumped to a 68-month high of 7.59 per cent in January on high food prices.

    Read full story

    11:01 (IST)13 Feb 2020
    Sensex, Nifty fall after disappointing IIP, CPI data; here’s what weighing the markets today

    Domestic equity market benchmark Sensex and Nifty slipped further in the trade on Thursday after the retail inflation surged to a six-year high in January. While the index of industrial production (IIP) shrunk by 0.3 per cent in the month of December. However, China’s Hubei province reported a record rise in the death toll on Thursday under a new method for diagnosing cases. 

    Read full story

    10:46 (IST)13 Feb 2020
    Coal India Q3 results gives little hopes of reviving share price

    Share price of Coal India fell 2 per cent on Thursday morning after a weak third-quarter result. Profits of the state-run company fell 14.1 per cent as net sales fell 7.8 per cent.

    10:20 (IST)13 Feb 2020
    IRCTC shares jump 12% to hit 52-week high as Q3 profit nearly triples; firm announces Rs 10 dividend

    IRCTC share price rose as much as 12.52 per cent to hit a fresh 52-week high of Rs 1596.95 in the opening deals on Thursday after the company reported a 179.65 per cent on-year rise in the profit at Rs 205.80 crore in the third quarter of the financial year 2019-20. The company had posted a profit of Rs 73.59 crore in the corresponding quarter of last year. At 10.10 AM, IRCTC shares were trading 9.09 per cent higher at Rs 1,548 apiece on BSE. IRCTC has also declared an interim dividend of Rs 10 on face value of Rs 10. The revenue from operation increased 64.59 per cent to Rs 715.98 crore in the quarter ended December 31 .

    Read full story

    09:54 (IST)13 Feb 2020
    Yes Bank could get the money it needs by March

    Yes Bank will report its results for the December quarter on or before March 14. The Bank said that its management is deeply engaged in fundraising and that it has received non-binding expression of interests from prominent investors. This has helped the Yes Bank share price gain 5 per cent on market opening.

    09:37 (IST)13 Feb 2020
    Yes Bank trades over 4% higher in early trade

    Yes bank shares were trading over 4 per cent higher at Rs 36.65 apiece in early trade on Thursday.

    Check live prices

    09:34 (IST)13 Feb 2020
    IRCTC shares jumps 9 per cent post Q3 earnings

    IRCTC shares climbed over 9 per cent to hit a 52-week high at Rs 1596. 95 a piece in opening trade on Thursday after the company reported a 179.65 per cent on-year rise in profit at Rs 205.80 crore for the quarter ended December 31.

    09:32 (IST)13 Feb 2020
    Sensex, Nifty trade flat to negative in opening deals

    The S&P BSE Sensex was trading 30 points or 0.07 per cent lower at 41536.24, while the broader Nifty 50 index was ruling flat at 12,206.30 points.

    09:11 (IST)13 Feb 2020
    Sensex, Nifty trade higher in pre-opening session

    Domestic equity market benchmarks Sensex and Nifty were trading higher in the pre-opening session. The Sensex was up 142.58 points or 0.34 per cent at 41708.48, and the Nifty up 18 points or 0.15 per cent at 12,219.55.

    09:06 (IST)13 Feb 2020
    Rupee opens lower against US dollar

    The Indian rupee opened 4 paise lower at 71.37 a dollar against Wednesday's close of 71.33 a dollar.

    08:56 (IST)13 Feb 2020
    India beckons: FPIs snap up $2-billion bonds in 5 sessions

    Foreign portfolio investors (FPI) continue to chase yields in India comforted by the modest increase in government borrowings planned for 2020-21 and the Reserve Bank of India’s attempts to ensure adequate liquidity and lower interest rates. They were buyers for five straight sessions to Tuesday, having snapped up close to $2 billion worth of bonds, Bloomberg data shows. Before that, between January and early February, FPIs had been somewhat cautious on Indian paper, selling debt worth $2 billion. Against the highs seen in mid-January at 6.667%, the benchmark yield on Wednesday closed at 6.476%.

    Read full story

    08:52 (IST)13 Feb 2020
    NCDEX files offer document for IPO

    National Commodity and Derivatives Exchange Limited (NCDEX) has filed its offer document with markets regulator Sebi for an initial public offering to raise about Rs 500 crore. The IPO comprises a fresh issue aggregating up to Rs 100 crore and an offer for sale of up to 1,44,53,774 equities by shareholders, according to the draft red herring prospectus (DRHP). The issue is expected to raise about Rs 500 crore, including fresh offering, merchant banking sources said. After BSE and MCX, this would be the third listing by an exchange.

    Read full story

    08:47 (IST)13 Feb 2020
    HUL at record high, nudges mcap of entire Nifty Smallcap Index

    The market capitalisation of FMCG major Hindustan Unilever (HUL) is nudging the market cap of the entire Nifty Smallcap Index, thanks to the selective rally in the Indian market over the last two years that has ignored the broader market. Shares of HUL surged 5% on Wednesday to hit a record high of Rs 2,260.35 on the NSE as investors weighed the benefits from the proposed merger with GlaxoSmithKline Consumer Healthcare (GSKCH). As on Wednesday, the market capitalisation of HUL stood at Rs 4.89 lakh crore, which is Rs 19,344 crore shy of the Nifty Smallcap Index’ market cap.

    Read full story

    08:46 (IST)13 Feb 2020
    India Ratings downgrades Yes Bank to ‘A-‘

    India Ratings on Wednesday downgraded Yes Bank to ‘A-‘ from ‘A’ while maintaining it on rating watch negative (RWN) citing the continued delay in the bank’s fund-raising programme. In its rationale for the downgrade, the rating agency said, “The downgrade reflects the continued delay and inconclusive quantum of the anticipated equity infusion in Yes Bank. Ind-Ra believes this could adversely impact the bank’s franchise and potentially create challenges on asset and liability side.”

    Read full story

    08:45 (IST)13 Feb 2020
    Alarm bells ring, inflation continues to rise way beyond RBI’s tolerance level

    With inflation mounting its head in January, RBI’s decision to keep the interest rates unchanged in the final monetary policy of FY20 gets validated. The retail inflation inched up to a six-year high in January on account of rising food prices, government data released on Wednesday showed. The CPI-based retail inflation was recorded at 7.59 per cent up from 7.35 per cent last month. The December inflation figure was the highest since May 2014. The inflation rate of 2.05 per cent in December 2019. The food inflation last month was 13.63 per cent, compared with (-)2.24 per cent in January 2019. However, it is down from 14.19 per cent in December.

    Read full story

    08:44 (IST)13 Feb 2020
    Industrial output disappoints again; IIP contracts even as govt points to green shoots of revival

    The factory output in the month of December contracted again after a mild uptick in November 2019. The index of industrial production (IIP) shrunk by 0.3 per cent in the last month of 2019. While the street estimated the factory production to expand on the backdrop of green shoots of economic revival, the contraction may once again bring back the cloud of pessimism. The manufacturing output expanded by 2.9 per cent in December 2018, which shrunk by 1.2 per cent in December 2019.

    Read full story

    08:42 (IST)13 Feb 2020
    FII and DII data

    Foreign portfolio investors (FPIs) were sellers of domestic stocks to the tune of Rs 49 crore while DIIs were net buyers to the tune of Rs 339 crore on a net basis on Wednesday, as per the data available with NSE.

    08:41 (IST)13 Feb 2020
    Nestle, Vodafone Idea to report Q3 earnings

    Around 615 companies including Nestle India, BPCL, Vodafone India, Lemon Tree, Adani Transmission, Future Retail, Godrej Industries, Allcargo Logistics, Gillette India and GMR Infra are scheduled to report their quarterly results today.

    08:38 (IST)13 Feb 2020
    Oil rises for third day as coronavirus impact may spur output cuts

    Oil prices rose for a third day on expectations that major producers are likely to enact deeper output cuts to offset the slump in demand caused by the coronavirus outbreak in China, the world’s second-largest crude consumer. Brent crude rose 17 cents, or 0.3%, to $55.96 per barrel at 0217 GMT. U.S. West Texas Intermediate (WTI) rose 29 cents, or 0.6%, to $51.46 a barrel. The Organization of Petroleum Exporting Countries (OPEC) and its allies including Russia, known as OPEC+, recommended last week an additional output cut of 600,000 barrels per day (bpd) to its current 1.7 million bpd reduction to offset the disease-related demand losses.

    Read full story

    08:36 (IST)13 Feb 2020
    Maintain ‘buy’ on Phoenix Mills, Target Price Rs 1,015: Motilal Oswal

    PHNX’s third-quarter result highlights consistency in its operational performance amid a subdued macro environment. The traction in its key retail assets is particularly impressive. We find comfort in the company’s strong track record of execution/operations, scalability and robust cash generation. This, along with the affirmative guidance around consumption, reinforces our positive stance on the company. Maintain ‘Buy’ with a target price of `1,015.

    Read full story

    08:30 (IST)13 Feb 2020
    Maintain ‘buy’ on Hexaware Tech, valuation reasonable: ICICI Securities

    Hexaware reported a softer-than-expected quarter on all key parameters of revenue growth, margins and deal intake. Margin execution and guide was especially disappointing. The EBITDA margin pre-ESOP costs declined by 160 bps Q-o-Q with EBITDA margin guidance (post-ESOP cost) for CY20 of 15-16% being underwhelming given the benefit expected from shift to IndAS-116 (even if modest).

    Read full story

    08:19 (IST)13 Feb 2020
    Wall Street closes at record highs

    Wall Street closed at record highs on Wednesday as news that the coronavirus outbreak could be running out of steam kept buyers in the ring. On Wall Street, the Dow Jones Industrial Average rose 274.46 points, or 0.94 per cent, to 29,550.8, the S&P 500 gained 21.63 points, or 0.64 per cent, to 3,379.38 and the Nasdaq Composite added 87.02 points, or 0.9 per cent, to 9,725.96, according to Reuters news report

    08:18 (IST)13 Feb 2020
    Asian stocks fall

    Asian stock markets wobbled and the safe-havens of the Japanese yen, gold and bonds rose on Thursday as the number of new coronavirus cases at the outbreak’s epicentre jumped sharply. MSCI’s broadest index of Asia-Pacific shares outside Japan 0.04 per cent weaker while Japan’s Nikkei was 0.2 per cent lower

    08:15 (IST)13 Feb 2020
    Markets will react to IIP data, CPI inflation numbers on Thursday: Ajit Mishra, VP - Research, Religare Broking Ltd

    Markets will react to the macroeconomic data viz. IIP data and CPI inflation numbers in early trade on Thursday. Indications are in the favour of up move to continue but participation would remain restricted so traders should plan their positions accordingly and prefer private banking, financials, FMCG and IT for fresh buying, says Ajit Mishra, VP - Research, Religare Broking Ltd.

    Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates
    Next Stories
    1India Ratings downgrades Yes Bank to ‘A-‘
    2HUL at record high, nudges mcap of entire Nifty Smallcap Index
    3Hindalco Q3 standalone profit falls 64% year-on-year on weak demand