Share Market Update: Sensex ends 787 points lower, Nifty below 12,000; Bajaj Finance, SBI, Coal India top losers

Share Market Update: Benchmark indices Sensex and Nifty fell 1.90% each and closed majorly negative for the second consecutive session today, on back of negative global cues. BSE Sensex closed 787 points lower at 40,676 and NSE Nifty50 fell 233 points lower to end at 11,993. In terms of sector, all the indices traded in the red today with over 4.3% fall in PSU banking and 2.90% in metal scrips, followed by 1-2.5% decline recorded in all the other sector based indices.

Here's a look at the live updates of the market action on BSE and NSE today:

Closing session today

3: 45 PM

Benchmark indices Sensex and Nifty fell 1.90% each and closed majorly negative for the second consecutive session today, on back of negative global cues. BSE Sensex closed 787 points lower at 40,676 and NSE Nifty50 fell 233 points lower to end at 11,993. In terms of sector, all the indices traded in the red today with over 4.3% fall in PSU banking and 2.90% in metal scrips, followed by 1-2.5% decline recorded in all the other sector based indices.

DHFL rises 5%

2: 35 PM

Dewan Housing Finance Ltd (DHFL) stock price rose in early trade today amid reports that the housing finance company had received approval from committee of creditors (CoC) for resumption of disbursing home loans beginning with Rs 500 crore a month to prevent the decline in its loan book. DHFL share price rose nearly 5% to Rs 16.90 in early trade compared to the previous close of Rs 16.10 on BSE.

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Expert opinion: market update

2: 15 PM

Commenting on gold's bullish r=trend,  Jateen Trivedi, Senior Research Analyst (Commodity & Currency) at LKP Securities said,"Gold keeps trading strong on back of increased tension spooking the risky markets and spiking up the safe heavens Gold above $1,575 in Comex on Monday early trade. MCX Gold touched 41,000 respectively with a rise of more than Rs 900. Gold can keep its positive move continued as long as the situations remains tensed".

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Sobha shares rise 2.5%

1: 55 PM

The share price of Sobha rose nearly 2.5% today after the Bengaluru based developer's sales rose for the first time in three quarters. The company said it sold nearly 10.66 lakh square feet of real estate in the three month period, making a 17% increase over the previous year-netting of nearly Rs 726.1 crore in sales value. Average realization fell nearly 11% to Rs 6,811 per sq. ft., the filing said.

Sobha's share price, however gave up gains and traded in the red by the afternnon session of Monday.

Expert Opinion: market update

1: 30 PM

Commenting in the price escaltion of Crude Oil and Gold, Ravindra Rao, VP-Head Commodity Research at Kotak Securities said," Gold and Crude oil prices continue to trend higher hitting multi months high amid increased geo political tensions in Middle East.

He added," Going forward major focus will continue to be on development related to geo political tensions in Middle East and its impact on global sentiments. Escalating tensions may dent market risk appetite and weigh down on risker assets like global equity markets and commodities like base metals. However, it may continue to lend support to safe haven like gold and silver and will also be supportive of Crude oil prices amid worries over supply disruption from the region."

The Middle East accounts for nearly half of the world's oil production, while Iraq is the second largest producer among the Organization of the Petroleum Exporting Countries (OPEC), as reported by Reuters.

Indices decline further

1: 00 PM

Benchmark indices Sensex and Nifty fell 1.7% lower by the afternoon session of on Monday, tracking global markets that traded in the negative amid weak global cues. BSE Sensex traded 700 points lower at 40,763 and NSE Nifty50 traded 210 points lower at 12,019.

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Godrej Consumer 1% higher post quarterly update on 3Q FY20

12: 50 PM

Shares of Godrej Consumer traded 1% higher as the company provided an overall summary of the operating performance and demand trends witnessed during the quarter ended 31 st December 2019 The company said it witnessed relatively mixed demand across some of our geographies of operations.

Despite weak demand conditions, the company saw marginally higher than mid-single digit volume growth in India during Q3. Company added that it looks forward to a gradual improvement in consumer demand in the quarters ahead driven by good monsoon and government stimuli for India business.

In Indonesia, company recorded close to high single-digit constant currency sales growths, amidst an improving demand environment in home and personal care space.

Market update

12: 00 AM

Domestic indices were trading lower for the second consecutive session on account of negative global cues. Sensex fell 619 points intra day to 40,845. The index closed at 41,464 on Friday. Similarly, Nifty lost 164 points to 12,062 compared to the previous close of 12,226.

Bajaj Finance trades 1.2% lower post Q3 highlights

11: 30 AM

Bajaj Finance Ltd traded at Rs 4,142 down 1.2% from its previous closing of Rs 4,192.50 on the BSE. The company in its details on Q3 performance filing said new loans booked during Q3FY20 was 7.7 mn as compared to 6.8mn in Q3FY19. Customer franchise as of December 31, 2019 stood at approximately 40.4 mn as compared to 32.6 mn in same period last year. The company added that in the quarer, it acquired 2.5 mn new customers. AUM stood at approximately Rs 145,200 cr as of December 31, 20l9 as compared to Rs 107,507 cr in December 2018.

Tata Motors decline 2%

11: 15 AM

Tata Motors stock touched an intraday low of Rs 186.7, declining 2.28% on BSE today after the company reported that its JLR sales in the US market went down 2% at 13,801 units against 14,079 units YoY. Total Jaguar US sales reduced 4.4% at 3,311 units against 3,462 units (YoY).

Titan rises over 2%

11:00 AM

Titan stock touched an intraday high of Rs 1170, rising 2.68% intraday after the company said it witnessed 'reasonable growth in the festive season', with retail sales picking up at the start of the three-month period owing to the wedding season, between November and January. It indicated 11% growth in jewellery sales in the period, in line with the company's revised projections for the second half of 2019-20.

"Market for watches itself is estimated to have declined by around 4% due to poor customer sentiment and this led to primary sales to trade and e- commerce channels declining sharply," the company said. Titan watches & wearables Division's growth for Q3 was flat compared to previous year.

Titan's eyewear business grew 2% in revenue as competitive activity, lower primary sales to trade channels and the disruption in the second half of December due to the nation-wide protests impacted the sales after two strong quarters.

Adani Ports rises 1.5% on acquiring 75% stake in Krishnapatnam Port

10: 45 AM

Shares of Adani Ports rose 1.5% in Monday's trade after the company announced that it will buy a 75 percent stake in the all-weather deep-water port in Andhra Pradesh at an enterprise value Rs 13,572 crore. 

Mideast tensions, crude prices to direct market tone

10: 40 AM

Geopolitical developments in the Middle East would the major driving factor for the Indian equity indices this week and will also have a bearing on crude oil prices and rupee movement, analysts said. Global markets were thrown into fresh turmoil on Friday after top Iranian commander Qasem Soleimani was killed in a US drone strike in Iraq, marking a dangerous escalation in tensions in the volatile region.

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Rupee trades at 72.05 per dollar

10: 35 AM

Rupee depreciated 25 paise to 72.05 against the US dollar in Monday's morning session, weighed by the spike in crude oil prices, amid rising concerns over US-Iran tensions. Earlier, the local unit fell to lowest level since November 29 to settle at 71.80 a dollar. Rupee may remain under pressure and it may weaken till 72 - 72.20 to a dollar in the short term, quoted HDFC securities in their daily currency report.

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10: 30 AM

On a net basis, foreign institutional investors bought equities worth Rs 1,263.05 crore, while domestic institutional investors sold shares worth Rs 1,029.20 crore on Friday, data available with stock exchanges showed.

Global Market Update

10: 20 AM

A gauge of Asian markets toppled from an 18-month top on Monday following heightened geopolitical tensions in the Middle East. MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.7%. Bourses in Hong Kong, Tokyo and Seoul were trading in the red, while Shanghai was positive.

US stocks ended a holiday-shortened week solidly lower, with the Dow shedding more than 230 points, following escalating tensions in the Middle East and US manufacturing activity that fell to its lowest reading in about a decade.

European markets will take further cues from the Brexit bill as US parliament is expected to approve PM Boris Johnson's Brexit Bill.

Market update

10: 15 AM

According to traders, domestic investors followed Asian stocks that extended their fall after US President Donald Trump on Sunday vowed 'major retaliation' if Iran tries to avenge the killing of its key military commander Qasem Soleimani and doubled down on a threat to bomb Iranian cultural sites. He also threatened to impose 'very big sanctions' on Iraq if it follows through on a parliament vote calling for the expulsion of US troops based in the country.

Gold prices hit record high

10: 10 AM

Heightened Middle East tensions sent investors scurrying for the safety of gold on Monday, that hit a near seven-year high. Internationally, Spot gold surged 1.5% to $1,579.55 per ounce in jittery trade and reached its highest since April 2013. In domestic market, gold prices hit fresh record high of Rs 41,000 per 10 gramme.

Losers and gainers today

10: 00 AM

Indian market indices Sensex and Nifty opened Monday's trade in the red and fell over 1.3% in trade, following weak global cues. The 30-share BSE index was trading 376.66 points or 0.91 per cent lower at 41,087.95. Similarly, the broader NSE Nifty cracked 109.60 points or 0.90 per cent to 12,117.05.

SBI was the top loser in the Sensex pack, shedding up to 2.91 per cent, followed by Asian Paints, PowerGrid, Maruti, Mahindra and Mahindra, Tata Steel, NTPC, ICICI Bank and HDFC.

Geopolitical tensions in Middle East

9: 45 AM

Domestic indices followed global markets that erased early gains on Friday amid escalation in tensions in the Middle East fuelled volatility in global equities. Globally, markets turned majorly red on Friday in wake of sharp spike in crude prices after a US strike eliminated a top Iranian commander. Following this, Brent crude futures rose $1.46 to $70.06 a barrel, while U.S. crude climbed $1.17 to $64.22.

Sectors today

9: 30 AM

In terms of sector, all the indices traded in the red today with over 3% fall in PSU baking and 2% media scrips, followed by 1% decline in all the other sector based indices.

Opening Bell

9: 15 AM

Benchmark indices Sensex and Nifty started on a negative note today on back of negative global cues. BSE Sensex traded 450 points lower at 40,991 and NSE Nifty50 traded 140 points lower at 12,087.

Last Close

9: 14 AM

Benchmark indices Sensex and Nifty ended on a negative note today amid high selling pressure in PSU baking and media stocks. BSE Sensex closed 162 points lower at 41,464, and NSE Nifty ended 55 points lower at 12,226. Zee Entertainment, Bharti Infratel, Asian Paints, Axis Bank and Eicher Motors were among the major losers by the closing session. TCS, Infosys, Sun Pharma, GIAL and HCL Tech were among the top gainers of today's trading session. In terms of sector, except IT and pharma sectors, all the other indices traded in the red today with over 2% fall in PSU baking and media scrips, followed by 1% decline in banking and auto indices.

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