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Metals, PSU Banks Drag Sensex, Nifty To Near Two-Week Low

Metals, PSU Banks Drag Sensex, Nifty To Near Two-Week Low
A financial trader monitors data on computer screens on the trading floor. (Photographer: Jasper Juinen/Bloomberg)
6 years ago
Markets Today | Catch all the live updates on share prices, index moves, corporate announcements and more from Sensex and Nifty today on BloombergQuint. 

About 23 lakh shares of Yes Bank changed hands in a large trade, Bloomberg data showed. Buyers and sellers were not known immediately.

Shares of Yes Bank fell as much as 7.5 percent to Rs 59.25 after the large trade.

Emami

  • Shares of the firm rose as much as 6.2 percent to Rs 336 apiece.
  • The trading volume was five times the 20-day average for this time of the day.

Thermax

  • Shares of electrical equipment maker declined 1.1 percent to Rs 997 each.
  • The trading volume was seven times the 20-day average for this time of the day.

Pfizer

  • Shares of drugmaker rose 4.7 percent to hit a record high of Rs 4,388.55 each.
  • The trading volume was three times the 20-day average for this time of the day.

Shares of Vodafone Idea halted a three-day gaining streak. The stock fell as much as 14.1 percent to Rs 6.70.

Of the shares traded, 36 percent were t the ask price and 29 percent were at the bid, according to Bloomberg data. The stock rose 16 percent in the past five days and advanced 62 percent in the past 30 days.

Shares of Prestige Estate Projects extended gains for the fifth consecutive trading session. The stock rose as much as 12.6 percent to hit an all-time high at Rs 363.50.

Trading volume was more than 10 times its 20-day average, Bloomberg data showed. The relative strength index on was above 70, indicating that the stock may be overbought.

The stock gained 18 percent in the past five days and advanced 14 percent in the past 30 days, according to Bloomberg data.

Shares of Pfizer extended gains for the fourth consecutive trading session. The stock rose as much as 4.7 percent to hit an all-time high at Rs 4,388.55.

Trading volume was almost four times its 20-day average, Bloomberg data showed. The relative strength index was above 70, indicating that the stock may be overbought.

Indian equity benchmarks extended morning declines to trade at day’s low.

The S&P BSE Sensex fell 0.45 percent to 40,619.49 and the NSE Nifty 50 fell 0.58 percent to 11,978. The broader markets represented by the NSE Nifty 500 Index fell 0.67 percent.

About 10 lakh shares of SJVN changed hands in a large trade, Bloomberg data showed. Buyers and sellers were not known immediately.

Securities Appellate Tribunal says:

  • Directs SEBI's whole time member to hear plea of Bajaj Finance on or before Dec. 4.
  • has not commented on the merits of the case.
  • Ordered that further transfer of shares from demat accounts shall remain suspended.

Source: SAT proceedings

Maruti Suzuki says:

  • Price hike shall vary across different models.
  • Imperative to raise prices across models in January 2020.
  • Company impacted adversely in various input costs.

Nifty’s 12,000 put option contract was among the most active Nifty option contracts on National Stock Exchange.

Premium on the contract, which is set to expire on Dec. 5, rose 18.47 percent to Rs 41.70. Over 4.39 lakh shares were added to the open interest which stood at over 29.64 lakh shares.

Indian equity benchmarks declines after fluctuating between gains and losses in the opening trade.

The S&P BSE Sensex fell 0.18 percent to 40,730 and the NSE Nifty 50 0.24 percent to 12,021. The broader markets represented by the NSE Nifty 500 Index fell 0.26 percent.

Shares of United Spirits rose as much as 0.9 percent to Rs 609.35.

The company’s board approved the merger of company’s listed arm Pioneer Distilleries with self. Ten equity shares of the company will be issued for every 47 equity shares held by shareholders of Pioneer Distilleries.

Trading volume was more than three times its 20-day average, Bloomberg data showed. The stock declined 10 percent in the past 12 months compared to an 13 percent advance in the Sensex.

Shares of Oil and Natural Gas Corporation fell as much as 1.1 percent to Rs 126.70, while shares of Oil India fluctuated between gains and losses to trade little changed at Rs 154.24.

ONGC plans to invest about Rs 1.6 lakh crore and Oil India Rs 1,758 crore in domestic exploration and production in the next five years, Bloomberg reported quoting Oil Minister Dharmendra Pradhan's written reply in Parliament.

Shares of Biocon extended gains for the second consecutive trading session. The stock rose as much as 4.6 percent to Rs 299.

Biocon and Mylan launched Trastuzumab biosimilar in the U.S. The Food and Drug Administration approved product was unanimously recommended by the regulator’s Oncologic Drugs Advisory Committee, Biocon said in an exchange filing. The drug is used to treat breast and stomach cancers.

Trading volume was 20 times its 20-day average, Bloomberg data showed. Of the shares traded, 44 percent were at the ask price and 37 percent were at the bid.

Shares of Crompton Greaves Consumer Electricals rose as much as 5.95 percent, the most since Sept. 23, to Rs 267.

About 5.12 crore shares or 8.2 percent equity of the company changed hands in a large trade, Bloomberg data showed.

While buyers and sellers were not known immediately, private equity firm Advent International and Singapore state investment company Temasek were offering to sell 4.485 crore shares of the company, according to terms of the deal obtained by Bloomberg.

The base offering is valued at Rs 1,077 crore ($150 million) based on the floor price of Rs 240 apiece, priced at a discount of 4.8 percent to Monday's close, according to the terms.

Indian equity benchmarks fluctuated between gains and losses in the opening trade.

The S&P BSE Sensex and the NSE Nifty 50 traded little changed at 40,764 and 12,030 respectively. The broader markets represented by the NSE Nifty 500 index fell 0.1 percent.

The market breadth was tilted in favour of buyers. About 780 stocks advanced and 531 shares declined on National Stock Exchange.

Eight out of 11 sectoral gauges compiled by NSE traded lower, led by the NSE Nifty Metal Index’s 0.8 percent fall. On the flipside, the NSE Nifty Auto Index was the top sectoral gainer, up 0.16 percent.

  • Titan to meet Aditya Birla Capital, Motilal Oswal AMC and Neuberger Berman from Dec. 3-5.
  • Pidilite Industries to meet Hill Fort Capital on Dec. 4.
  • KEC International to meet JP Morgan on Dec. 4.
  • Thyrocare Technologies to meet ADD Capital on Dec. 4.
  • Brigade Enterprises to meet Axis MF, Motilal Oswal AMC and other investors from Dec. 3-4.

The Indian rupee opened unchanged at 71.66 against the U.S. dollar. The home currency appreciated 0.1 percent against the greenback yesterday.

Indian equity benchmarks are set to open higher.

The S&P BSE Sensex rose 0.16 percent to 40,867.61 during the pre-market and the NSE Nifty 50 rose 0.27 percent to 12,080.

  • Gayatri Projects, Max India, Sequent Scientific to move into Surveillance Measure in respect of companies with high promoter pledge.
  • Bajaj Consumer Care, Jindal Stainless, Metropolis Healthcare to move out of Surveillance Measure.
  • Tejas Networks, Precision Camshafts, One Point One Solutions to move into short term Additional Surveillance Measure framework.
  • Indiabulls Real Estate, Gayatri Projects, Cerebra Integrated Technologies, Forbes & Co to move out of short term ASM Framework.
  • CHD Chemicals price band revised to 10 percent.
  • Mukand Engineers, Tips Industries, Gayatri Projects price band revised to 5 percent.

Ujjivan Small Finance Bank IPO: Here’s All You Need To Know

  • DHFL: The Mumbai bench of the National Company Law Tribunal on Monday admitted petition by the Reserve Bank of India seeking bankruptcy proceedings to resolve the credit and liquidity crisis at the mortgage player, according to a PTI report.
  • Biocon and Mylan launched Trastuzumab biosimilar in the U.S. The Food and Drug Administration approved product was unanimously recommended by the regulator’s Oncologic Drugs Advisory Committee, Biocon said in an exchange filing. The drug is used to treat breast and stomach cancers.
  • United Spirits: Board approved merger of company’s listed arm Pioneer Distilleries with self. Ten equity shares of the company will be issued for every 47 equity shares held by shareholders of Pioneer Distilleries.
  • Oil & Natural Gas Corporation plans to invest about Rs 1.6 lakh crore and Oil India Rs 1,758 crore in domestic exploration and production in the next five years, Bloomberg reported quoting Oil Minister Dharmendra Pradhan's written reply in Parliament.
  • RBL Bank has opened its QIP. The board will meet on or after Dec. 5 to consider the issue price. The floor price has been set at Rs 352.57 each, a discount of 5.6 percent to Monday’s closing price.
  • Crompton Greaves Consumer Electricals: Private equity firm Advent International and Singapore state investment company Temasek are offering to sell 4.485 crore shares of the company, according to terms of the deal obtained by Bloomberg. The base offering is valued at Rs 1,077 crore ($150 million) based on the floor price of Rs 240 apiece, priced at a discount of 4.8 percent to Monday's close, according to the terms.
  • Aurobindo Pharma: Shareholders approved the merger of six arms of the company with self.
  • Bank of Baroda to consider raising capital via debt instruments on Dec. 5.
  • Tata Motors has won an order to supply over 2,300 buses to five state transportation companies. The company said that it is working to complete the order by February 2020, according to a Bloomberg report.
  • Jaypee Infratech: Yes Bank has filed a petition before NCLT to initiate insolvency proceedings against the company’s arm Jaypee Healthcare.
  • Prime Focus: IDBI Trusteeship Services has invoked pledge of 7.33 crore shares or 24.5 percent equity in the company. IDBI Trusteeship Services is the debenture trustee for Credit Suisse AG (Singapore). The capital was pledged by Reliance Mediaworks Financial Services. Pledge was invoked on Nov. 28.
  • Dr. Reddy’s Lab: NCLT has said that unsecured creditors meeting is to be held on Jan. 2 for considering amalgamation of Dr. Reddy’s Holdings and the company.
  • Altico Capital has defaulted on Rs 72.5 crore debt obligation and also failed to pay Rs 138 crore obligations which were due on Nov. 28, according to a Bloomberg report.
  • Piramal Enterprises and Piramal Phytocare’s merger scheme has come into effect. Record date has been fixed as Dec. 12. One share of Piramal Enterprises will be allotted for every 70 shares held by the shareholders in Piramal Phytocare.
  • IFCI said that it has received bids for the sale if its entire stake in NSE.
  • Kei Industries to consider raising funds via QIP on Dec. 5.
  • Gati to consider raising fund via preferential issue on Dec. 5.
  • Reliance Capital: Vistra ITCL (India) Ltd., trustees for the debentures issued by the company, has filed Original Application, before the Debts Recovery Tribunal – Mumbai, towards recovery of dues to the debenture holders. The company is legally advised that the said DRT filing is entirely misconceived and in violation of the provisions and the same will be duly challenged on those among other grounds.
  • Bajaj Finance: The non-banking finance company moved the Securities Appellate Tribunal on Monday to challenge Securities and Exchange Board of India’s decision on restore Karvy Stock Broking's pledged securities to its clients, according to Moneycontrol. This after PTI reported that the markets regulator’s action against Karvy resulted in nearly 83,000 investors, or 90 percent of investors, getting back their securities that were illegally transferred by the broker to its own account and were even pledged without any authorisation.

  • The S&P 500 Index fell the most in almost eight weeks after the U.S. President Donald Trump announced that he is reinstating tariffs on steel and aluminium from Argentina and Brazil, nations he criticised for cheapening their currencies to the detriment of U.S. farmers.
  • Oil rose the most in more than a week as traders sifted for fresh signals of whether OPEC and allied crude producers will tighten supplies when they meet later this week.
  • Get your daily fix of global markets here.

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