Share Market highlights: Sensex ends 170 points higher, Nifty near 12,000; Tata Motors, Yes Bank jump

By: |
Updated:Dec 12, 2019 3:51:54 pm

Share Market News Today | Sensex, Nifty, Share Prices LIVE: The headline indices Sensex and Nifty closed higher on Thursday, led by a strong rally in index heavyweights.

Bank Nifty, RBI, DLF, Oberoi Realty, IDFC First Bank, Nifty Realty, Nifty Auto index, economic growth, BS-IV modelsBoth the Sensex and Nifty50 closed marginally lower on Thursday as stocks such as TCS, ITC, Infosys and Larsen & Toubro cushioned a further fall by gaining up to 2%.

Share Market News Today | Sensex, Nifty, Share Prices LIVE: India’s first PSU corporate bond ETF issue– Bharat Bond ETF –kicked off for subscription. The issue will remain open for subscription till December 20th. The offer size for the issue is likely to be Rs 7,000 crore, with a green-shoe option of Rs 8,000 crore. The ETF will invest in 3-year and 10-year government securities. NABARD, HUDCO, NHAI, PFC, REC, PGCIL, IRFC, NHPCNTPC will be the firms borrowing through Bharat Bond ETF. Through this public offer, retail investors will have an opportunity to invest in quality PSU debt for as low as Rs 1,000. “We are giving the retail investor an option to earn more than the fixed deposit rate, and also participate in the development of the country. Bharat bond ETF will be the first corporate bond ETF in the country,” FM Nirmala Sitharaman said in a press briefing last week. Ujjivan Small Finance Bank shares made a stellar debut on Thursday morning following a blockbuster IPO. Ujjivan Small Finance Bank shares soared to Rs 60.20 on BSE, implying a premium of 70% to issue price of Rs 37. The stock listed at Rs 58 on BSE, implying a premium of more than 56% to issue price. Earlier,  the firm saw a blockbuster IPO as the issue was subscribed as many as 170 times, making it one of the most subscribed IPOs in the last few years in India’s primary market. The headline indices Sensex and Nifty closed higher on Thursday, led by a strong rally in index heavyweights. The Sensex closed 170 points higher at 40,582, while the Nifty closed near the 12,000-mark. Yes Bank, Tata Motors, IndusInd Bank were among the biggest gainers, jumping up to 6%. We bring to you LIVE updates.

Live Blog

Highlights

    15:51 (IST)12 Dec 2019
    BSE live: Sensex ends 170 points higher, Nifty near 12,000; Tata Motors, Yes Bank jump

    The headline indices Sensex and Nifty closed higher on Thursday, led by a strong rally in index heavyweights. The Sensex closed 170 points higher at 40,582, while the Nifty closed near the 12,000-mark. Yes Bank, Tata Motors, IndusInd Bank were among the biggest gainers, jumping up to 6%. A look at LIVE Sensex heatmap.

    14:33 (IST)12 Dec 2019
    Betting on small businesses: Digitising MSMEs to create this big market for technology providers to tap

    Technology for MSMEs: Adoption of digital technology, though gradually, among MSMEs is perhaps among the definitive move happening in around 75 million strong Indian MSME sector. The opportunity, hence, for technology providers and enablers, is also rising. From estimated $30 billion in 2019, the market opportunity rising from digital technology adoption among MSMEs will grow at around 25 per cent CAGR to around $85 billion in 2024, a recent Zinnov report said. Helping small businesses to use the latest technologies to grow and scale also seems central to the government’s target of increasing the sector’s GDP share from the current 29 per cent to 50 per cent in five years.

    Full story

    13:01 (IST)12 Dec 2019
    No Gratuity payment for 1 2, 3 or 4 years of service: New rules soon

    Employees will become eligible for payment of Gratuity only after termination of his employment on completion of 5 continuous years in service, according to the Code on Social Security 2019 introduced in Lok Sabha. The code on social security will come into effect only after it is passed by both Houses of Parliament and receives Presidential assent. Chapter V of the Code says, “Gratuity shall be payable to an employee on the termination of his employment after he has rendered continuous service for not less than five years…”

    Full story

    12:09 (IST)12 Dec 2019
    Onion prices on fire even with produce touching over decade high; here’s why

    While onion production has been on a 12 year high in 2018-19, the prices, nonetheless, have skyrocketed and have breached Rs 200 per kg mark in some regions. Historically as well, “price increases have not been always in alignment with the production numbers as the latter are annual while there are three seasons for harvesting onions which affect monthly inflation rates,” CARE Ratings said in a report on Wednesday. This year, prices have been fueled by a gamut of factors. “Prices tend to increase sharply every time there is a crop failure which has been caused more often than not by a delayed withdrawal of the monsoon or flooding at the time of harvest when the kharif crop is damaged,” the report added. 

    Full story

    11:01 (IST)12 Dec 2019
    E-NAM starts bearing fruit; helping realise vision of ‘One Nation, One Market’

    India is a Union of States as per our Constitution. Agriculture being a state subject, state governments have enacted agricultural produce market committee (APMC) legislations for regulating trade in their own territories. The APMC laws were originally intended for safeguarding farmers against exploitation by unscrupulous traders and ensuring transparent price discovery of agri-produce. Farmers, then, had limited knowledge of domestic and international prices or demand and supply forecasts for their crops. Nor did they really produce based on the quality preferred by consumers.

    Full story

    10:33 (IST)12 Dec 2019
    Stellar listing: Ujjivan Small Finance Bank shares debut at 58% premium to IPO price

    Ujjivan Small Finance Bank shares made a stellar debut on Thursday morning following a blockbuster IPO. Ujjivan Small Finance Bank shares soared to Rs 60.20 on BSE, implying a premium of 70% to issue price of Rs 37. The stock listed at Rs 58 on BSE, implying a premium of more than 56% to issue price. Earlier,  the firm saw a blockbuster IPO as the issue was subscribed as many as 170 times, making it one of the most subscribed IPOs in the last few years in India’s primary market. The portion reserved for institutional investors was subscribed 113.8 times, while that reserved for high net-worth individuals and retail investors was subscribed 486.14 and 49.5 times, respectively. Shareholders of the bank’s parent company— Ujjivan Financial Services Ltd— subscribed to shares worth 3.27 times the portion reserved for them. The proceeds from the issue will be utilised increasing Tier-1 capital base to meet future capital requirements and towards meeting the expenses in relation to the issue. Ujjivan Small Finance Bank’s parent firm Ujjivan Financial Services was listed in 2016. The public float of Ujjivan Small Finance Bank’s IPO was being carried out with the objective of listing within three years of getting a banking licence, to be compliant with the regulations.

    Full story

    09:52 (IST)12 Dec 2019
    GST should not inconvenience people, say states, amid talks of rate hike gaining momentum

    As talks of a hike in goods and services tax (GST) rates gain momentum, there is a sense of disquiet among states regarding any major tinkering of the slabs, especially the lower tax slab and exempted items. The Council meeting of December 18, coming in the backdrop of the Centre’s struggles on the revenue side sets the stage to reverse the direction of rate cuts. The emerging view is that revenue gain from any such rate hike has to be substantial and not cause inconvenience to the common man, though they are of the view that ways need to be found to narrow the widening revenue gap.

    Full story

    09:27 (IST)12 Dec 2019
    Dollar licks wounds as US Federal Reserve disappoints bulls, UK election awaited

    The dollar nursed its steepest losses in weeks on Thursday, after the US Federal Reserve’s benign inflation outlook hosed down expectations for a rate hike any time soon, pushing Treasury yields lower. Investors also remained on edge as Sunday’s deadline for the next round of US tariffs on Chinese goods looms, and ahead of a European Central Bank (ECB) meeting and the UK election later on Thursday.

    09:22 (IST)12 Dec 2019
    NBFC woes seem to be far from over; these 3 concerns may lead to growth hitting a decadal low

    Falling growth rates, derisking of loan books and funding constraints are going to impact non-banking finance companies with their growth hitting a decadal low of 6-8 percent this year from a high 15 percent last year, says a report. With the headwinds unlikely to dissipate soon, non-banks, especially the wholesale-focused ones without strong parentage, would need to make structural changes and reorient their business models, leading to a recalibration of their asset under management mix, Crisil said on Wednesday.

    Full story

    09:16 (IST)12 Dec 2019
    Piyush Goyal stresses on MSME exports; says opportunity for small businesses globally under FTAs

    Trade, Imports, Exports for MSMEs: The tariff concessions under the Free Trade Agreements (FTAs) signed by India gives export opportunities for products including those from SMEs, said Commerce Minister Piyush Goyal. The SME products on which such concessions are offered by India’s trading partners including Japan, South Korea and some ASEAN countries, belong to categories including readymade garments, leather goods, processed foods, and engineering products such as auto components, Goyal informed Lok Sabha on Wednesday. MSME focused export promotion schemes include participation in international exhibitions and fairs, training programme on the packaging for exports, Market Development Assistance (MDA) Scheme for MSME exporters and National Award for quality products.

    Full story

    09:15 (IST)12 Dec 2019
    Bharat Bond ETF kicks off today; check date, investment, return, taxation, other details

    India’s first PSU corporate bond ETF issue– Bharat Bond ETF –will kick off for subscription on December 12. The government on Monday said that the public offer has received SEBI’s approval. The issue will remain open for subscription till December 20th. The offer size for the issue is likely to be Rs 7,000 crore, with a green-shoe option of Rs 8,000 crore. The ETF will invest in 3-year and 10-year government securities. NABARD, HUDCO, NHAI, PFC, REC, PGCIL, IRFC, NHPCNTPC will be the firms borrowing through Bharat Bond ETF. Through this public offer, retail investors will have an opportunity to invest in quality PSU debt for as low as Rs 1,000. “We are giving the retail investor an option to earn more than the fixed deposit rate, and also participate in the development of the country. Bharat bond ETF will be the first corporate bond ETF in the country,” FM Nirmala Sitharaman said in a press briefing last week.

    Full story

    Next Stories
    1Analyst corner: Cement cos with exposure to north, central regions to gain
    2RBL Bank: Macro outlook remains tough; PT at Rs 240 – Morgan Stanley
    3Saudi Aramco pulls down India’s rank in market cap league table