Share Market Update: Sensex ends 79 points lower, Nifty at 12,343; IndusInd Bank, Wipro, BPCL top losers

Share Market Update: Share market indices Sensex and Nifty recovered from early losses and ended 0.15% lower on Wednesday, tracking weak overseas trend. Globally markets turned red after the US said its initial trade deal with China does not include tariff rollback. Sensex closed 79 points lower at 41,872 and Nifty ended 19 points lower at 12,343. By the closing bell, most sector based indices turned green except financial and banking stocks. IndusInd Bank, Wipro, Infosys, Tata Steel and Vedanta were among the major losers. Infratel, Britannia, Reliance Industries, Tech Mahindra, Hero MotoCorp were among the top gainers. Sensex hit an intraday low of 41,677.44 and Nifty made a low of 12,284.40 during Wednesday's trade.

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

Closing Bell

3: 45 PM

Share market indices Sensex and Nifty recovered from early losses and ended 0.15% lower on Wednesday, tracking weak overseas trend. Globally markets turned red after the US said its initial trade deal with China does not include tariff rollback. Sensex closed 79 points lower at 41,872 and Nifty ended 19 points lower at 12,343. By the closing bell, most sector based indices turned green except financial and banking stocks. IndusInd Bank, Wipro, Infosys, Tata Steel and Vedanta were among the major losers. Infratel, Britannia, Reliance Industries, Tech Mahindra, Hero MotoCorp were among the top gainers.

Government asks oil PSUs to pay Rs 19,000 crore dividend: Report

3: 40 PM

Shares of OMCs were trading lower today folloing reports that government has sought a record dividend of Rs 19,000 crore from state-run oil companies to boost its finances. Companies reportedly have been trying to negotiate with the government to lower the final amount owed as they might have to borrow money to clear the payment, the report added. As per the report, ONGC has been asked to shell out, Rs 6,500 crore, Indian Oil Rs 5,500 cr, BPCL Rs 2,500 cr and Rs 2,000 cr from GAIL India. While BPCL and Indian Oil shares traded 1% lower, ONGC traded marginally lower. GAIL shares, on the contrary were trading highr by 1%.

52-week high and lows

3: 35 PM

Shares of Avanti Feeds, Indraprastha Gas, Mahanagar Gas, JM Financial, Granules India hit new 52-week high on the bourses today, while share price of Reliance Home, IRB InVIT hit new 52-week low today.

Market recovers from losses

3: 25 PM

Share market on Wednesday recovered from early losses and fell 0.20% lower, tracking weak overseas trend. Globally markets turned red after the US said its initial trade deal with China does not include tariff rollback. Sensex fell 74 points lowert at 41,880 and Nifty traded 8 points lower at 12,354. By the last hour of trade, most sector based indices turned green except financial and banking stocks.

YES Bank releases media statement

3: 15 PM

YES Bank has released a media statement saying,"Recently there have been some unsubstantiated and irresponsible press/ social media speculation about YES BANK. This release is being issued to firmly assure all our customers on YES BANK's liquidity and stability. In this regard, it may be noted that the Bank's overall Capital Adequacy Ratio is comfortably above regulatory requirements and all efforts are being made to financially strengthen the Bank even further. Kindly, therefore, pay no heed to these unfounded reports".

IndusInd Bank falls 5% post Q3 results

2:45 PM

Indusind Bank shares fell to the intraday low of Rs 1406.65, declining 5.03% after the lender posted its December quarter earnings.

Private lender IndusInd Bank on Tuesday reported a 33 per cent rise on a yearly basis in its consolidated net profit at Rs 1,309 crore for the third quarter ended December 31, 2019. "Net profit for the quarter is Rs 1, 309 crore as against Rs 985 crore in the corresponding quarter of the previous year, showing a robust growth of 33 per cent," IndusInd Bank said in a filing to the Bombay Stock Exchange.

IndusInd Bank's Q3 profit jumps 33% to Rs 1,309 crore

Deepak Nitrite acquires 125 acres of industrial land at Dahej

2: 30 PM

Deepak Nitrite share price rose 1.4% in trade after the compay said it has acquired industrial land of 125 acres situated at Industrial Phase, GIDC Industrial Estate, Dahej-2, Gujarat for a total consideration of Rs 99.25 crores.

Bharti Airtel announces the successful completion of QIP

2: 15 PM

Bharti Airtel has announced today successful completion of its QIP process and pricing of FCCB Offering issued by the company. The company has raised USD 2 billion through the QIP route and USD 1 billion through FCCBs. The transaction is the largest ever dual-tranche Equity and FCCB offering in Asia Pacific, largest QIP ever by a private sector issuer in India, as well as the largest FCCB offering from an India issuer in the last 12 years. Despite the update, Shares of Airtel were trading in red, falling 0.29 % to Rs 468 on BSE.

Saksoft gains nearly 6%

1: 50 PM

Shares of Saksoft Limited touched an intraday high of Rs 248.6, rising 5.92% on BSE after the Company informed the exchanges that Credit Analysis and Research Ltd has assigned an upward rating to the long term facilities of the company from Care B+, positive to Care A-, stable.

Coffee Day Enterprises and CG Power locks 5% lower fro 2nd day

1: 45 PM

Shares of Coffee Day Enterprises and CG Power were locked at 5% lower circuit for th esecond consecutive session post BSE and NSE's announcement of suspending trading in shares of the two companies with effect from February 3 on non-compilation of listing norms. The two companies have not reported September quarter results.

Alembic Pharmaceuticals gains over 2% on USFDA approvals

1: 40 PM

Shares of Alembic Pharmaceuticals gained 2% in trade after the company said it received USFDA tentative approval for Empagliflozin Tablets, 10 mg and 25 mg. In another filing, the pharma major said that USFDA has also given its final approval for Tizanidine Hydrochloride capsules, 2 mg, 4 mg, and 6 mg.

Shares of Alembic Pharmaceuticals traded 2.62 % higher and  touched an intraday high of Rs 576.75 as compared to the previous close of Rs 558.35 on BSE.

Bharat Wire Ropes up nearly 8%

1: 35 PM

Shares of Bharat Wire Ropes gained 7.8% today after the company said that its total financial indebtedness including short-term and long-term debt stood at Rs 570 crore.

Indiabulls Housing Finance gains nearly 3%

1: 25 PM

Shares of Indiabulls Housing touched an intraday high of Rs 315, rising 2.49% on BSE after the compay said it has made timely payment of interest in respect of the Secured Redeemable Non-Convertible Debentures (NCDs) issued on private placement basis.

L&T Construction bags order

1: 15 PM

L&T shares gained marginally in trade after the company said its construction arm has bagged contracts in the range of Rs 2,500-5,000 crore for its various businesses

LT Infotech gains over 6% post Q3 results

1: 10 PM

LT Infotech shares touched an intraday high of Rs 2002.8, rising 6.6% on BSE after the firm reported healthy figures for the quarter ended December 31, 2019. LT Infotech's net profit came in at Ra 376 crore, 2.6% higher than Rs 375 crore reported in the same quarter last year.

Company's Q3 revenue stood at Rs 2,811 crore, registering a growth of 13% on a yearly basis, while its Net Income grew 0.3% YoY

"Our outstanding QoQ growth of 8.4% in Q3 is a result of on-track ramp up of large engagements we announced earlier. We are extremely pleased with the superior  and broad-based  performance across verticals and service offerings, which underscores the resilience of our diversified portfolio. Our strategy and investments for powering the breakaway enterprise is resonating well with our clients. We continue to win large deals across regions and have won two such engagements in Q3 with cumulative net-new TCV of more than US$75 mn," Sanjay Jalona, Chief Executive Officer & Managing Director said.

L&T Infotech Q3 net profit rises to Rs 377 crore

Capacite Infra gains over 3%

12: 55 PM

Capacite Infra stock opened with a again of 3.12% and later rose to an intraday high of Rs 205, rising 5.7% on BSE after the company said it bagged contract worth Rs 407.2 cr from construction of hospital in Mumbai.

"Company has received contract worth Rs 407.16 crore for Construction of Multi-Storey super specialty Hospital Building at Sir J J Hospital Campus Byculla, Mumbai on EPC engineering, procurement and construction, " the filing said.

Market falls further

12: 45 PM

Equity indices BSE Sensex and NSE Nifty fell 0.55% each on Wednesday, tracking overseas trend after the US said its initial trade deal with China does not include tariff rollback. Sensex fell 240 points lower at 41,712 and Nifty fell 70 points lower to 12,292. In terms of sector, gains in auto, media, metal, pharma and realty indices were capped by losses in Banking, financials, IT, FMCG and IT indices. Sensex has hit an intraday low of 41,677.44 and Nifty has made a low of 12,284.40 during Wednesday's trade.

National Peroxide falls almost 2% on plant shutdown

12: 30 PM

National Peroxide shares fell nearly 2% today after the compay announced a temporary shutdown of plant for capacity expansion. The Company's plant located at Kalyan, Maharashtra, had taken a temporary shutdown for an approximate period of 90 days for carrying out expansion of production capacity, compay's filing said.

Company said that the expansion activity is under progress and the plant is expected to be commissioned around last week of January, 2020. The company will inform when the plant commences the production.

Titan stock top gainer

12: 20 PM

Ace investor Rakesh Jhunjhunwala has bought an additional 16.2 lakh shares in Titan Company in the October-December quarter. The big bull held 4.67 crore Titan shares at the end of Q3 compared to 4.52 crore shares in the preceding quarter. Jhunjhunwala raised his stake in Titan Company to 5.27% in Q3 from 5.1% for the quarter ended September 2019.

Rakesh Jhunjhunwala buys 16.2 lakh shares of Titan Company; stock top gainer on Sensex, Nifty today

CSB Bank gains 4.5%

11: 45 AM

Shares of CSB Bank touched an intraday high of Rs 201.95, rising  4.56% after Reserve Bank of India (RBI) lifted a restriction it has imposed on CSB Bank, formerly The Catholic Syrian Bank, on opening new branches in view of the delayed Initial Public Offering (IPO).

YES Bank stock reverses trend, climbs 4.8%

11: 30 AM

YES Bank share price reversed the trend and gained nearly 5% on Wednesday after the lender said it has acquired 30% shareholding in Reliance Power's subsidiary Rosa Power Supply Company upon invocation of pledged shares.

In another update, YES Bank convened that an extraordinary general meeting of its shareholders was scheduled on February 7 to discuss fundraising for Rs 10,000 crore and to authorise an expansion in its authorised capital to Rs 1,100 crore from Rs 800 crore earlier.

YES Bank share price rises 6.6% on acquiring stake in Reliance Power's arm

Budget 2020: Reduction of gold import duty

11: 20 AM

The commerce ministry has asked for a reduction in import duty on gold in Budget 2020 to boost exports and manufacturing in the gems and jewellery sector. In the last budget, the import duty on gold was increased from 10 per cent to 12.5 per cent. The gems and jewellery industry's demand is to reduce the duty to 4 per cent in the forthcoming budget, scheduled on February 1.

Budget 2020: Reduction of gold import duty to reduce smuggling, improve demand

Q3 Earnings today

11: 15 AM

Larsen & Toubro Infotech Ltd, Reliance Industrial Infrastructure Ltd, Sterlite Technologies Ltd, Tinplate Company of India, Plastiblends India, Den Networks are among the companies that are scheduled to post their December quarterly earnings today.

Ruee below 71 per US dollar today

11: 00 AM

The Indian rupee opened on a cautious note and fell 14 paise to 71.01 against the US dollar in early trade on Wednesday as concerns over the US-China trade deal weighed on investor sentiments.

Forex traders said, the rupee along with other Asian currencies weakened after reports surfaced that tariffs on billions of dollars in Chinese goods will stay in place until after the US presidential election in November.

Rupee vs Dollar: Rupee slips below 71 per dollar amid concerns over US-China trade deal

Losers and gainers today

10: 50 AM

IndusInd Bank, Tata Steel, UltraTech Cement, SBI, Infosys, Axis Bank and ICICI Bank were the among the top losers in the Sensex pack. On the other hand, Titan, Hero MotoCorp, Tech Mahindra, Nestle and Sun Pharma were the top gainers.

Wipro share price declines 3.17% post Q3 results

10 : 45 AM

Wipro share price fell over 3% today after the IT firm reported earnings for the third quarter that came below expectations. Share price of Wipro declined 3.17% to Rs 249 compared to the previous close of Rs 257.15 on BSE.

The IT stock opened 1.61% lower at Rs 253.05 on BSE. Market cap of Wipro fell to Rs 1.42 lakh crore. Share price of Wipro has fallen after two days of gain. However, the large cap stock has gained just 0.56% in one year. 1 lakh shares of the firm changed hands amounting to turnover of Rs 2.35 crore on BSE.

Wipro share price falls over 3% on decline in Q3 net profit, tepid revenue guidance

Mindtree stock up 4.4% post Q3 results

10: 30 AM

Shares of IT firm Mindtree were trading 4.4% higher on Wednesday as the company posted healthy figures for the December quarter earnings. Mindtree's consolidated net profit jumped 3.1% to Rs 197 crore for the December 2019 quarter, compared to Rs 191.2 crore reported in the same period last year. Larsen and Toubro (L&T) had acquired control of Mindtree with 60.06 percent stake in July last year.

The Bengaluru-based company's revenue grew 10% to Rs 1,965.3 crore in the quarter under review as against Rs 1,787.2 crore recorded in the year-ago period.

Post the result declaration, the share price of Mindtree touched an intraday high of Rs 901.9, rising 4.42%, with 1.28 lakh and 35.24 lakh shares trading on BSE and NSE counters.

Mindtree share price gains 4.4% on 3.1% rise in Q3 net profit

YES Bank top loser today

10 : 00 AM

YES Bank share price was the top loser today, falling 4% to the low of Rs 36.65 on BSE.

In its latest update, Yes Bank said it has acquired 30% in Reliance Power's subsidiary Rosa Power Supply Company due to invocation of pledged shares. Yes Bank acquired 127,321,500 shares, representing 29.97% stake in the Rosa Power.

"Shares acquired on invocation of pledge subsequent to default/breach of terms of credit facilities sanctioned by YES Bank to Reliance Power," the bank said in a filing to the bourses.

Market Update

9: 45 AM

Globally, markets traded in the red following news that the trade truce with China set to be signed on Wednesday does not include a deal to roll back tariffs imposed on most Chinese goods, US officials said in a statement Tuesday.

US to maintain tariffs on Chinese goods until Phase 2 deal: US Treasury Secretary

Losers and Gainers

9: 30 AM

YES Bank, IndusInd Bank, Wipro, Tata Steel and Vedanta were among the major losers. Infratel, Britannia, Reliance Industries, Tech Mahindra, Hero MotoCorp were among the top gainers.

In terms of sector, except media index, all the other indices traded in the red.

Opening Bell

9: 20 AM

Domestic equity indices BSE Sensex and NSE Nifty started on a muted note on Wednesday, amid weak global equities, as investors awaited the signing of an initial US-China trade deal. However, sentiments turned negative after US Treasury Secretary said late Tuesday that the US would keep in place tariffs on Chinese goods until the completion of a second phase of a US-China trade agreement. Tracking oversea trend, Sensex fell 100 points lower at 41,858 and Nifty fell 30 points lower to 12,325.

US-China trade deal

9: 00 AM

US President Donald Trump is due to sign the trade pact with Chinese Vice Premier Liu He at a ceremony at the White House, marking a truce after 18 months of tit-for-tat tensions that have stalled U.S. business investments and dampened global growth.

Treasury Secretary Steven Mnuchin said late Tuesday that the United States would keep in place tariffs on Chinese goods until the completion of a second phase of a US-China trade agreement.

"There's no side agreements. The only way the president will be reducing the tariffs is if there is a Phase 2 part of the agreement that is also fully enforceable," he said

He added later that the trade documents will be released Wednesday that will show skeptics that a Phase 1 US-China trade agreement will be fully enforceable, including a pledge by China to refrain from manipulating its currency.

FII/ DII action on Tuesday

8: 55 AM

Net investment of equity and debt reported by foreign portfolio investors (FPIs) turned negative with net selling logged at Rs 205.56 crore from Indian equities and domestic institutional investors (DIIs) were also bearish with net selling logged at Rs 642.47 crore on Tuesday.

Stocks in focus

8: 50 AM

Wipro, Mindtree, Indiabulls Housing Finance, Canara Bank, Larsen & Toubro Infotech are likely to be in focus on Wednesday's trading session based on recent and latest news developments. Investors are also awaiting December quarter earnings that are scheduled to be released today. Companies set to announce their earnings are Larsen & Toubro Infotech Ltd, Reliance Industrial Infrastructure Ltd, Sterlite Technologies Ltd among others.

Stocks in news: Wipro, Mindtree, Indiabulls Housing Finance, Canara Bank and more

Global Market Update

8: 45 AM

Globally, investors awaited the signing of an initial US-China trade deal. However, sentiments turned negative after US Treasury Secretary said late Tuesday that the US would keep in place tariffs on Chinese goods until the completion of a second phase of a US-China trade agreement.

In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.13%, Japan's benchmark Nikkei and South Korea's Kospi shed 0.29% and 0.48%, respectively, while Australian stocks added 0.33%.

On Wall Street, the Dow Jones Industrial Average ended up 0.11% at 28,939.67 points, while the S&P 500 lost 0.15% to 3,283.15.

Last Close

8: 30 AM

After a volatile session, equity indices BSE Sensex and NSE Nifty gained to fresh record highs by the last hour of trade and closed at their highest levels. Sensex closed highest ever, rising 92 points higher to 41,952 level and Nifty50 settled at a new closing peak of 12,362, rising 32 points by the closing bell. During Tuesday's session, BSE Sensex climbed to the intraday as well as its lifetime high of 41,994.26 and Nifty breached earlier 12,337 level to hit 12,374.25 as its fresh all-time high.

Sensex ends highest ever at 41,952.63, Nifty at 12,362.30