Share Market Update: Sensex ends 38 points lower, Nifty at 12,266; RIL, Nestle, SBI top losers

Share Market Update: Domestic indices BSE Sensex and NSE Nifty traded on a bearish note and closed lower on Monday. BSE Sensex closed 38 points lower at 41,642 and NSE Nifty fell 5 points lower to end at 12,266 today. RIL, Netsle, Britannia Industries, Ultra Cement and Bharti Airtel were among the worst performers in the trade today. Dr Reddy, Vedanta, Zee Entertainment, BPCL and Hero MotoCorp were among top gainers in trade today. Except media, IT, financial services and auto that traded in the green, all the other sector based indices reversed trend and closed in the red.

Closing Bell

Domestic indices BSE Sensex and NSE Nifty traded on a bearish note and closed lower on Monday. BSE Sensex closed 38 points lower at 41,642 and NSE Nifty fell 5 points lower to end at 12,266 today. RIL, Netsle, Britannia Industries, Ultra Cement and Bharti Airtel were among the worst performers in the trade today. Dr Reddy, Vedanta, Zee Entertainment, BPCL and Hero MotoCorp were among top gainers in trade today. Except media, IT, financial services and auto that traded in the green, all the other sector based indices reversed trend and closed in the red.

Bharat Bond ETF gets great response from investors

2: 30 PM

India's first corporate Bond ETF, Bharat Bond ETF, has received a great response from investors across different segments. The issue was oversubscribed approximately 1.7 times, collecting about Rs 12,000 crores.

Global Market Update

2:00 PM

Asian markets hovered near 18-month highs on Monday but trading volumes weakened ahead of the Christmas holiday break.

MSCI's broadest index of Asia-Pacific shares outside Japan hovered near its highest since June 2018. All three major US indexes in US notched up gains and ended at record highs on Friday, as the afterglow of the US China trade deal. United States and China would 'very shortly' sign their so-called Phase 1 trade pact, Trump told reporters on Saturday.

BASF climbs 6% on selling construction chemicals biz to Lone Star

1: 45 PM

BASF India shares climbed over 6% to Rs 1,015.55 on BSE today, after the company announced that it has signed a purchase agreement with an affiliate of Lone Star, a global private equity player, for acquisition of BASF's Construction Chemicals Business.

Market Update

1: 25 PM

Domestic indices BSE Sensex and NSE Nifty have fallen further in today's trade. BSE Sensex traded 100 points lower at 41,569 and NSE Nifty fell 21 points to 12,249 today. RIL, Netsle, Britannia Industries, Ultra Cement and Bharti Airtel were among the worst performers in the morning trade. UPL, Vedanta, Zee Entertainment, BPCL and Hero MotoCorp were among top gainers in trade today. Except media, metal and auto that traded in the green, all the other sector based indices reversed trend and turned red.

Ramco Systems climbs 8%

1: 15 PM

Ramco Systems gained over 8% today after the company said it has signed multi-million-dollar deal with Hong Kong Aircraft Engineering Company Limited (HAECO Group) and extended partnership with the MRO specialist

NHPC shares gain marginally

1: 00 PM

NHPC shares rose marginally higher today after PFC Consultancy Limited (PFCCL) appointed the firm as "Aggregator" under Pilot Scheme-II for procurement of aggregated power of 2500 MW. Now, present bidding process under the scheme has been annulled by Ministry of Power (MoP), Govt. of India. Further, MoP advised PFCCL (Nodal Agency) to undertake re-bidding process.

In a separate note, NHPC Limited in its meeting scheduled to be held on December 28, 2019, plans to consider the proposal for raising of debt up to Rs 2,000 crore during financial year 2019-20.

Market Update

12: 50 PM

Benchmark indices Sensex and Nifty traded marginally lower on Monday, amid lack of fresh cues from global equities. BSE Sensex traded 40 points lower at 41,636 and NSE Nifty traded 6 points lower at 12,265. Except pharma, PSU banking and realty indices, all the other sector-based indices traded in the green.

Can Fin Homes Ltd rises on ICRSA rating

12: 45 PM

Shares of Can Fin Homes traded higher today after the rating agency ICRA Limited (ICRA) assigned ratings for the NCDs of the company, aggregating to Rs 7,100 crore. ICRA has rated Can Fin's NCDs to ICRA AA+, pronounced as ICRA double A plus and updated the ratings to 'watch with developing implications'.

India's foreign exchange reserves at new high

12: 40 PM

On account of increase in foreign currency assets, India's foreign exchange reserves scaled to new high to $454.49 bn for the week ended December 13. The reserves jumped to $433.70 billion as of September against $412.87 in March. It was increased by 5% during the second half of the financial year ended September 2019.

The five-day moving average of net foreign inflows increased to $137.7 million, rising above the 20-day average of $78.1 million, according to data from the CDSL.

L&T Technology climbs 2%

12: 30 PM

Share price of L&T Technology Services Limited rose 2% on Monday after the company said it got awarded a multi-million-dollar EPCM project from one of the world's top plastics, chemicals and refining manufacturers, to deliver the entire spectrum of Engineering, Procurement and Construction Management (EPCM) services for the expansion of an existing site in Europe.

The expansion project will be implemented at the customer's brownfield plant in Germany over 30 months. As the strategic engineering partner, LTTS will play a key role in executing the entire project through an EPCM model, from procurement and supply chain management support to safety aspects and efficient design.

NBCC climbs 1%

12: 20 PM

NBCC (India) Limited has received a letter of intent from Hindustan Insecticides (HIL India) Limited to provide Project Management Consultancy services for development of 5.12 acres land parcel on self-sustainable model. Further, HIL (India) Limited will be signing a MoU with NBCC shortly. The work will commence after the approval of Detail Project Report (DPR) by Ministry of Chemicals & Fertilizers, Govt. of India. The estimated cost of the project is Rs. 350 crore, wherein NBCC will be paid fee of Rs. 34.5 crores. Following the news, shares of NBCC rose 15 to the day's high of Rs 36.05 on BSE today.

Ratnamani Metals climbs 1%

12: 15 PM

Ratnamani Metals' shares rose 1.28% to the day's high of Rs 1,023.10, also its opening price today. The company has received new domestic order of Rs 81 crore for supply of Coated Carbon Steel (CS) Pipes for an Oil & Gas Pipeline project to be completed between April to September 2020.

KEC International bags orders worth Rs 1,520 crore

12: 10 PM

KEC International announce dthat its urban transport business has secured an order of Rs 964 crore for the construction of elevated viaduct along with 8 stations of the Delhi Metro Phase IV project from Delhi Metro Rail Corporation (DMRC).

The company's transmission and distribution vertical has bagged two orders of Rs 391 crore for construction of 400 kV Transmission lines in Nepal. In the railways business, it has secured an order of Rs 165 crore for construction of road over bridges (ROBs) in western India. The total orders come to around Rs 1,520 crore.

KEC International share price rose to the day's high of Rs 308.90, climbng 3.5% compared to earlier closing value of Rs 298.55 on BSE.

Firms to added in BSE Sensex index today

12: 05 PM

Titan Company, UltraTech Cement, Nestle India will be added to BSE Sensex whereas Tata Motors, Tata Motors DVR, Vedanta, Yes Bank will be deleted from the BSE Sensex from December 23

Tata Global Beverages climbs over 3%

12: 00 PM

Tata Global Beverages (TGBL) announced appointment of Sunil Alaric D'Souza as its Managing Director and CEO. D'Souza, who is currently the MD of consumer durable firm Whirlpool of India, will assume his new role from April 4, 2020, after the retirement of Ajoy Misra. Besides, Ajit Krishna Kumar has been appointed as the company's Chief Operating Officer.

Shares of Tata Global rose 3.2% to the intraday high of Rs 322.55, compared to the last closing value of Rs 312.45 on BSE today.

Glenmark Pharma rises 1%

11: 50 AM

Glenmark Pharma announced that Seqirus Pty. Ltd. (Seqirus) has received marketing approval for Ryaltris from the Therapeutic Goods Administration (TGA), Australia. Shares of Glenmark Pharma rose 1% to trade at Rs 353.40, against the last closing value of Rs 349.85 on BSE today.

Rupee trades lower

11: 35 AM

The Indian rupee opened on a flat note and fell 5 paise to 71.17 against the US dollar in early trade on Monday tracking muted opening in domestic equities. On Friday, the rupee had closed at 71.12 against the US dollar.

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Dilip Buildcon rises 1%

11: 30 AM

Dilip Buildcon rose 1% on BSE after the company said it got an appointment date from NHAI for the Karnataka project. The cost of the project is Rs 2,283.50cr for a period of 30 months. The operation period is for a period of 15 years from COD.

Fitch Rating lowers India GDP growth to 4.6% in FY20

11: 20 AM

Fitch Rating has lowered India GDP growth to 4.6% in FY20. Fitch said growth will gradually recover to 5.6% in FY21 and 6.5% in the following year with support from easing monetary and fiscal policy and structural measures.

PSP Projects rises 3%

11: 10 AM

PSP Projects rose 3% to Rs 520 on BSE on Monday after the company emerged as lowest bidder for EPC design and build construction of proposed GIDC Tech-Hub at GIFT City, Gandhinagar, Gujarat with bid value of Rs 307.53 crore (including taxes).

Reliance Infrastructure shares rise 5%

11: 05 AM

Reliance Infrastructure shares rose 4.9% to the intraday high of Rs 24.25 on BSE today. The company said it has won major arbitration award, worth Rs 1,250 crore against Damodar Valley Corporation (DVC), a Government of India undertaking.

Tata Power up 1%

11: 00 AM

Tata Power shares rose 1% after the company said it was selected as the successful bidder to own the license for the distribution and retail supply of electricity in Odisha's five circles, together constituting Central Electricity Supply Utility of Odisha (CESU).

RIL falls 3%

10: 55 AM

The share price of Reliance Industries fell over 3% in today trade and lost over $2 billion market cap in trade after the Delhi High Court had asked the Mukesh Ambani-led conglomerate to disclose its assets before it plans to sell 20% stake in its refining and petrochemicals business to Saudi Aramco in a deal worth $75 billion. RIL has termed the claim of the government as 'premature'.

Global Market Update

10: 45 AM

In global markets, bourses in Shanghai and Seoul were trading on a negative note, while those in Hong Kong and Tokyo were trading in the green. Beijing will lower import tariffs on over 850 products, including frozen pork, from January 2020, which may help ease the pressure on the country's depleted pork supply.

FII/ DII action on Friday

10: 25 PM

On a net basis, foreign institutional investors bought equities worth Rs 338.86 crore, while domestic institutional investors sold shares worth Rs 285.41 crore on Friday, data available with stock exchange showed.

Market turn volatile

10: 15 AM

Indian benchmark indices Sensex and Nifty turned volatile today after a weak start at the domestic front. Sensex traded marginally higher, rising 35 points and Nifty traded flat at 12,271.

Rupee opens lower

10: 00 AM

At the interbank foreign exchange, the rupee opened at 71.15 then fell to 71.17 against the US dollar, showing a decline of 5 paise over its previous closing.

Losers/Gainers

9: 45 AM

RIL, Yes Bank, SBI, Britannia Industries, Gail and Bharti Airtel were among the worst performers in the morning trade. Hindalco, Vedanta, Wipro, BPCL, Titan, Tata Motors and HUL were among top gainers in trade today.

Opening Bell

9: 20 AM

Domestic bourses opened on a cautious note on Monday, amid mixed cues from Asian equities. BSE index Sensex traded 50 points lower at 41,634 and broader NSE Nifty ended 3 points lower at 12,268 today. Among sectors, all the indices are trading in the green.

Last Close

9: 15 AM

Benchmark indices Sensex and Nifty ended the week on a bullish note and closed in the green on Friday. After touching their lifetime highs, BSE index Sensex closed 7 points higher at 41,681 and broader NSE Nifty ended 12 points higher at 12,271 today.

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