All sectors are trading in the green, with maximum gains seen among metals, automobiles, consumption, as well as financials.
Jan 07, 03:35 PM (IST)
Market at Close Equity benchmarks have ended the day on a positive note, though off their high points. The Nifty closed below 10,800-mark.
Among sectors, all but three sectors ended the session in the green. In the broader markets, the Nifty Midcap index closed around flat line.
At the close of market hours, the Sensex was up 155.06 points or 0.43% at 35850.16, while the Nifty was higher by 44.40 points or 0.41% at 10771.80. The market breadth was negative as 1292 shares advanced, against a decline of 1310 shares, while 172 shares were unchanged.
Axis Bank, Tata Motors, and Bharti Infratel gained the most, while Bajaj Auto, Yes Bank, and Indiabulls Housing were the top losers.
Jan 07, 03:13 PM (IST)
JUST IN | Tata Motors is in focus as its JLR UK sales have grown 7 percent at 6,625 units against 6,195 units last year.
Jaguar UK Sales have risen 14.7% At 2,304 Units Vs 2,099 Units last year. Land Rover UK sales grew 3.2% at 4,321 Units Vs 4,186 Units last year.
Jan 07, 02:25 PM (IST)
Market Update: Benchmark indices are trading higher with Nifty hovering around 10,800, while Sensex is up over 250 points.
Tata Motors, Axis Bank, Bharti Infratel, Titan Company and NTPC are the top gainers on the Nifty.
Jan 07, 02:07 PM (IST)
JUST IN | Essar Global has repaid Rs 6300 crore to ICICI Bank, Axis Bank and StanChart
Jan 07, 01:09 PM (IST)
Rupee update The rupee has erased most of its morning gains and is trading at 69.69 per US dollar.
Jan 07, 01:04 PM (IST)
The Reserve Bank of India (RBI), having changed management last month following a clash with the government, is likely to transfer an interim dividend of 300-400 billion rupees ($4.32 billion-$5.8 billion) to the government by March, according to three sources with direct knowledge of the matter.
The dividend could help Prime Minister Narendra Modi’s administration bridge a widening budget deficit following a drop in tax collections, and would come after the government pushed the RBI for the additional funds ahead of a national election due by May.
Former finance ministry official Shaktikanta Das was appointed as the new governor of the RBI, following resignation of Urjit Patel last month amid tensions over the dividend payout and other issues.
Jan 07, 01:02 PM (IST)
JUST IN | Tata Consultancy Services has acquired select company assets of BridgePoint Group.
Jan 07, 12:51 PM (IST)
TAX COLLECTIONS DATA
Revenue from direct tax grew 13.6 percent to Rs 7.43 lakh crore in the first nine months of the current financial year, data released by the Finance Ministry reveals.
The tax receipt figure indicates net direct tax collection, which is arrived at after adjusting refunds. The government has met more than 64.7 percent of its budgeted estimate of Rs 11.50 lakh crore.
Refunds issued by the Income Tax Department jumped 17 percent on-year to Rs 1.30 lakh crore during April-December.
Gross tax collection grew 14.1 percent on-year to Rs 8.74 lakh crore.
Jan 07, 12:33 PM (IST)
Worries of supply crunch on the prospect of tough sanctions on Iran and healthy demand from top oil consumers kept oil prices at multi-year highs earlier. However, the outlook of oil has turned negative amid rising production and concerns over global economic growth, writes Hareesh V of Geojit.
The initially expected supply drop by Iran owing to sanctions has not materialised during the year as the US unexpectedly gave broad exemptions to major Asian oil consumers.
Jan 07, 12:07 PM (IST)
Buzzing stock: ITC shares gained 1.5 percent intraday on Monday after global investment firm Macquarie maintained outperform call on the stock with a price target at Rs 376, implying 34 percent potential upside.
Calamity cess of 1 percent limited to Kerala is significantly positive for the company because the street was expecting a Pan-India calamity cess at a higher rate, the research house said.
Thomas Isaac, the state’s Finance Minister, after meeting a group of ministers in the national capital said Kerala would be permitted to have 1 percent cess on the value of goods and services across all or select items for two years.
Jan 07, 11:49 AM (IST)
Market Update Some profit booking has dragged the market off its high points. The Sensex is up over 200 points, while the Nifty has breached 10,800-mark.
The Sensex is up 241.25 points or 0.68% at 35936.35, and the Nifty up 65.50 points or 0.61% at 10792.90. The market breadth is positive as 1397 shares advanced, against a decline of 771 shares, while 129 shares were unchanged.
Tata Motors and Axis Bank are the top gainers, while Bajaj Auto, Hero MotoCorp, and Indiabulls Housing lost the most.
Jan 07, 11:21 AM (IST)
JUST IN | The Supreme Court has issued a notice to Anil Ambani on Ericsson’s contempt petition, CNBC-TV18 reported quoting sources. The apex court has asked RCom to resolve past dues issue with Jio before the spectrum sale.
Jan 07, 10:51 AM (IST)
Future Lifestyle Fashions rises 2%: The company has increased the Foreign Portfolio Investors (FPIs) investment limit from 24 percent to 49 percent of the paid-up capital of the company.
Jan 07, 10:42 AM (IST)
Parag Milk ventures into Indian sweets category: The company has recently launched two ready-to-eat Indian desserts Gulab Jamun and Rasgulla, made from pure cow ghee and cow milk under the brand Gowardhan. With this, the company has forayed into the Indian sweets category.
Jan 07, 10:35 AM (IST)
Rupee Update: The Indian rupee has extended the morning gain and trading higher by 37 paise at 69.35 per dollar.
It opened higher at 69.42 per dollar versus Friday’s close 69.72.
Jan 07, 09:35 AM (IST)
Titan surges Brokerage houses are upbeat on Titan’s view on revenue growth for different segments.
Shares of Titan traded 4 percent higher in morning trade.
Morgan Stanley has maintained its overweight stance on the stock, along with Citi, which has a target price of Rs 1,250 apiece.
On Friday (January 4, 2019), the company said in an exchange filing that it continued the good growth momentum across all its businesses in the seasonally strong third quarter.
Jan 07, 09:31 AM (IST)
Bharat Forge falls Global research firm CLSA has downgraded Bharat Forge to ‘sell’ from outperform, with a cut in target to Rs 420 from Rs 680. This implies a downside of 38 percent.
The stock has fallen 4 percent in the morning trade.
The brokerage believes cyclical pressures are lined up ahead and it has cut FY20-21 EPS estimates by 16-24 percent.
Jan 07, 09:18 AM (IST)
Market opens Equity benchmarks have witnessed a strong start, with the Sensex rising over 260 points, while the Nifty has reclaimed 10,800.
All sectors are trading in the green, with maximum gains seen among metals, automobiles, consumption, as well as financials. The Nifty Midcap index is up around 0.70 percent.
The Sensex is up 266.96 points or 0.75% at 35962.06, while the Nifty is higher by 87.90 points or 0.82% at 10815.30. The market breadth is positive as 415 shares advanced, against a decline of 67 shares, while 26 shares were unchanged.
Yes Bank, Vedanta, and Titan are the top gainers, while Bajaj Auto is the only loser.
Jan 07, 9:06 AM (IST)
Rupee opens The Indian rupee gain in the early trade on Monday. It has opened higher by 30 paise at 69.42 per dollar versus Friday’s close 69.72.
Rupee rose against the US dollar ahead of the important non-farm payrolls number that was released later on Friday. The US economy saw job addition of 312,000 jobs in December compared to 176,000 job additions in the previous month, said Motilal Oswal.
Jan 07, 9:04 AM (IST)
Market at pre-open Equity benchmarks are likely to see a good start, with the Nifty trading around 10,800-mark.
The Sensex is up 202.40 points or 0.57% at 35897.50, and the Nifty up 80.20 points or 0.75% at 10807.60.
The Indian rupee has gained 30 paise to trade around 69.42 per US dollar.
Jan 07, 8:38 AM (IST)
Asia trades higher: Asian shares sped ahead on Monday as a dovish turn by the Federal Reserve and startlingly strong US jobs data soothed some of the market’s worst fears about the global outlook.
Jan 07, 8:29 AM (IST)
Crude Update: Oil prices rose by more than 1 percent on Monday, lifted by optimism that talks could soon resolve the trade war between the United States and China, while supply cuts by major producers also supported the market.
Jan 07, 7:39 AM (IST)
Good morning. Welcome to the live coverage of all the action from the market on Monday. Stay tuned to this blog for live updates from the markets in India and around the world.
Source:- Moneycontrol News