Sensex Today: Market ends at day's low, Sensex closes 334 points lower, Nifty at 11,921; YES Bank slips 10%

Stocks in the news

 YES Bank, Vodafone Idea, Bharti Airtel, Mahindra & Mahindra, Bank of Baroda among others are the top stocks to be in focus on Friday's trading session.

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Pre-open session

Market has pre-opened on a flat note on Friday amid weak domestic cues, with BSE Sensex gaining 10 points and NSE Nifty trading 2 points lower.

Global Market Update

Asian shares traded higher as investors' held optimistic hopes on the interim trade deal between US-China, ahead of the new round of tariffs scheduled to kick in on Dec. 15.

Japan's Nikkei rose 0.28% and MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.19%. Highest gains were seen in Hang Seng, followed by marginal gains in Nikkei, KOSPI and Taiwan Index, while Straits Times, Shanghai Composite indices traded flat with a negative bias.

In the meanwhile, on Wall Street, indices erased gains on the uncertainty of the trade deal. The Dow Jones Industrial Average rose 0.1, the S&P 500 gained 0.15% and the Nasdaq Composite added 0.05%.

Oil near two-month high after deeper output cut

Oil traded near two-month highs after producers led by Saudi Arabia and Russia agreed on further output cuts.

Oil prices stood little changed near recent peaks. U.S. West Texas Intermediate (WTI) crude dipped 2 cents to $58.41 per barrel, but was not far off Thursday's 2-1/2-month high of $59.12 per barrel.

Opening Bell

Share Market Today: Domestic indices Sensex and Nifty started Friday's trade on a strong note, in line with Asian equities. BSE Sensex opened strong at a gain of 125 points to 40,884 and NSE Nifty traded 26 points higher to trade at 12,044 level by the opening bell on Friday.

Saudi Aramco IPO breaks record of Alibaba's debut

Saudi Arabia's state oil company Aramco raised $25.6 billion in its initial stock offering, which has broken the record of Chinese online giant Alibaba's $25 billion-debut on the Wall Street in 2014. This makes it the largest-ever IPO of the world.

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Sectors Today

Except PSU Bank, media and IT stocks, all the other sector-based indices traded in green, with nearly 1% rise in metal and pharma scrips.

YES Bank top loser in morning trade

Moody's downgraded YES Bank's long-term ratings due to stressed assets and low loss absorbing buffers which may add pressure to its funding and liquidity. The global rating agency also assigned a negative outlook to the private sector lender.

Reacting to the rating release, YES Bank stock was the top loser in the opening hour of trade today after it started 1.7% lower at Rs 61. Later the shares declined as much as 5.31% to touch an intraday low of Rs 58.60 apiece, against the previous closing value of Rs 62.10.

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Gainers and losers

Top gainers on Friday included Bharti Infratel, JSW Steel, Tata Steel, Grasim and Vedanta. YES Bank, ONGC, UPL, SBI and TCS were among the top losers.

RBI keeps interest rate unchanged

On Thursday, The RBI unexpectedly kept benchmark interest rate unchanged at 5.15 per cent and reverse repo rate at 4.90 per cent on concerns of headline inflation breaching its medium-term target.

However, the RBI promised to continue with its accommodative stance in its monetary policy.

Rupee opens flat at 71.30 per dollar

The Indian rupee was trading flat in opening trade on Friday. At the interbank foreign exchange the rupee opened at 71.30. The local unit fluctuated between a high of 71.27 and a low of 71.34 in early trade.

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Vodafone Idea declines 5.4% on Brickwork's downgrade

Shares of Vodafone Idea traded more than 5% lower on Friday after rating agency Brickworks downgraded telecom operator's rating on Non-Convertible Debentures. As per the rating firm, the downgrade is on account of considerable impact of the AGR related liability on the financial performance of the company resulting in huge losses, erosion of net worth and deterioration in the overall risk profile of the company.

Following the downgrade, Vodafone Idea Limited shares fell 5.4% to the day's low of Rs 6.91 compared to the previous closing of Rs 7.31 on BSE today.

Market erases gains

Share Market Today: Domestic indices Sensex and Nifty erased early gains on Friday's trade and traded flat with negative bias. Sensex traded down 4.81 points at 40774.78, and Nifty fell 2.80 points to 12015.60.

 

Market falls further

Share Market Today: Domestic indices Sensex and Nifty erased early gains in Friday's trade and fell 0.30% each, backed by selling pressure across all sector-based indices. BSE Sensex traded down 120 points at 40,667, and Nifty fell 36 points to 11,980. Except pharma stocks, all the other sector-based indices traded in red, with nearly 3% decline in media and PSU bank scrips.

Losers and Gainers

YES Bank, Zee Entertainment, SBI, GAIL and M&M were among the top losers in today's trade. Bharti Infratel, Dr Reddy, Kotak Bank, Asain Paints and HDFC Bank, on the other hand, were among the top gainers.

 

Bank of Baroda declines 4% on fundraising plans

The share price of Bank of Baroda fell 4% in the early trade after the public sector lender said that the bank's board has approved raising up to Rs 1,850 crore in tier-I bonds, with a base issue size of Rs 500 crore and a Green Shoe Option to retain over subscription up to Rs 1,350 crore.

On fund-raising news, the shares of Bank of Baroda fell 4.01% to an intraday low of Rs 98.15 on BSE, against the previous closing price of Rs 102.25.

Allcargo Logistics rises 4% on acquiring controlling stake in Gati

Shares of logistics firm Allcargo Logistics climbed over 4% in Friday's early trade after the company declared it is acquiring a controlling stake in worth Rs 416 crore in Gati, an Hyderabad-headquarterd courier delivery services company.

Allcargo Logistics stock price opened with a gain of 3.03% today and later rose 4.09% to the intraday high of Rs 98 on BSE.

In the meanwhile, share price of Gati Ltd opened with a gap-up chart pattern to rise 2.73% to the day's high of Rs 67.8, but later gave up gains and fell 4.85% to touch an intraday low of Rs 62.

Vodafone declines nearly 9%

Vodafone Idea shares fell 8.89% to the day's low of Rs 6.66 on BSE after Aditya Birla Group Chairman Kumar Mangalam Birla said that the company would not put good money after bad and shut shop if the government did not give relief to Vodafone Idea.

Aditya Birla Group holds 27.66 per cent stake in the telco, while Vodafone holds 44.39 per cent.

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RBL Bank falls 7% post QIP closure

RBL Bank shares declined 7.5% to the intraday low of Rs 338 on BSE, on the closing day of its QIP. The bank has raised Rs 2,025 crore at Rs 351 per share through qualified institutional placement offering (QIP)

"Bank has successfully concluded the QIP of Rs 2,025 crore at an issue price of Rs 351 per share (including premium of Rs 341) pursuant to the allotment of 5.77 crore equity shares," company said in a BSE filing.

 

Market declines further

Share Market Today: Domestic indices Sensex and Nifty erased early gains in Friday's trade and fell 0.30% each, backed by selling pressure across all sector-based indices. BSE Sensex traded down 170 points at 40,611, and Nifty fell 51 points to 11,966.