CNBCTV18 Closing Bell: Sensex jumps 793 points, Nifty rises 2%, HDFC twins, Bajaj twins lead gainers, Yes Bank jumps 5%

Closing Bell: Sensex jumps 793 points, Nifty rises 2%, HDFC twins, Bajaj twins lead gainers, Yes Bank jumps 5%##Closing Bell: Sensex jumps 793 points, Nifty rises 2%, HDFC twins, Bajaj twins lead gainers, Yes Bank jumps 5%

Indian shares ended Monday's trade with strong gains, posting the biggest single-day gain in three months. The Nifty rose 2.11 percent, or 228 points, to settle at 11057.85 at close. The Sensex jumped 793 points, or 2.16 percent, to settle at 37494. The Nifty MidCap index slightly underperformed, rising 1.58 percent. The Bank Nifty surged 3.68 percent. Among sectors, only metal indices declined by almost a percent. Finance, bank and realty were top sectoral gainers. Adani Ports, HDFC, Bajaj Finance, Yes Bank and UltraTech Cement surged between 5 and 6 percent, leading among Nifty gainers. JSW Steel, Vedanta, Tata Steel, Hero MotoCorp and Sun Pharma dipped between 2 and 3 percent. 

Market posts the biggest single-day gain in 3 months##Market posts the biggest single-day gain in 3 months

Market 'downgrades' credit rating agencies, shares dive upto 57% in one year##Market 'downgrades' credit rating agencies, shares dive upto 57% in one year

Corporate performances, liquidity profile and earnings are majorly tracked by the credit rating agencies (CRAs) to direct market participants. These agencies police the markets and scout for companies piled up with bad debt and reputation. However, in the last one year, share prices of the three major listed credit rating agencies in India have reported a substantial downfall. In last one year, ICRA has plunged nearly 29 percent, CRISIL declined 27 percent and CARE Ratings fell 57 percent. While in comparison, the benchmark equity indices the BSE Sensex and the Nifty50 only fell 4 percent and 7 percent, respectively, during the same time period. READ MORE

Banks gain on MF purchases, YES Bank surges 9%##Banks gain on MF purchases, YES Bank surges 9%

YES Bank surged over 9 percent and was among the leading gainers in the Nifty50. At 2.36 pm, the Nifty Bank index was up 3.4 percent. YES Bank was up 6.1 percent at Rs 62.90, HDFC Bank up 4.3 percent at Rs 2,253.20, ICICI Bank up 3.6 percent at Rs 409.65, Punjab National Bank up 3 percent at Rs 65.45, and State Bank of India up 3.4 percent at Rs 280.35.

Udayan Mukherjee: Issues not addressed in FM Sitharaman's package, autos have a very long and difficult road ahead##Udayan Mukherjee: Issues not addressed in FM Sitharaman's package, autos have a very long and difficult road ahead

After finance minister Nirmala Sitharaman on Friday announced a series of measures to revive the stagnant economic growth, there were expectations of the markets reacting positively to the news. The markets have rallied 3-4 percent in Monday's trade so far, it might extend further if finance minister Nirmala Sitharaman follows up on her promises of some more measures during the weak especially on housing, it is quite conceivable that they can go back to 11,200 level, said Udayan Mukherjee. READ MORE

DHFL appoints KK Mankeshwar & Co as the statutory auditors of the company from today##DHFL appoints KK Mankeshwar & Co as the statutory auditors of the company from today

Rollback is not reform. It is relief##Rollback is not reform. It is relief

Relief! After stressing out the economy, industry and investors, the government has finally offered a placating balm—rollback. Recent pronouncements by various arms of the establishment on issues like criminal punishment for CSR violations, hiking vehicle registration fees, moving the entire automobile industry in the country to EVs and the proposal to levy surcharge on gains by foreign investors, instituted as trusts, have caused much grief. READ MORE

Auto parts, tyre makers up 2-12% on value buying##Auto parts, tyre makers up 2-12% on value buying

Shares of most auto parts and tyre makers were up 2-12 percent due to bargain buying after the government on Friday announced measures to address the slowdown in the automobile sectors, and the economy at large. Shares of Rane Madras were up 11.4 percent at Rs 233.55, Jay Bharat Maruti up 10 percent at Rs 173, Pricol up 8 percent at Rs 25.90, Munjal Auto Industries up 7 percent at Rs 36.65, Minda Corp up 6.3 percent at Rs 70.95, Bharat Gears up 3.5 percent at Rs 59.50, and Ceat up 3.3 percent at Rs 889.95. So far this year, shares of most auto parts and tyre makers are down 20-60 percent.

Gold prices today touch new highs on equity selloffs, silver rates at 3-year peak##Gold prices today touch new highs on equity selloffs, silver rates at 3-year peak

Gold prices in India surged to a fresh all-time high for the sixth straight session on Monday supported by gains in global markets and losses in equity markets over the escalating US-China trade war. The depreciating Indian rupee against the US dollar has also boosted gold rates. Global gold prices also jumped nearly 1 percent to trade at the highest level since April 2013. In India, gold futures rose 1 percent to Rs 39,196 per 10 grams in early trade. So far this year, gold prices rose nearly 25 percent in 2019. Comex gold rates hit their six-year highs. Globally, spot gold rate jumped 0.9 percent to $1,539.70 per ounce as of 9.44 AM (IST), having earlier touched $1,554.56 an ounce, its highest since April 2013. US gold futures were up 0.8 percent at $1,549.50 an ounce. READ MORE

Here's a quick round-up of what has so far happened in the markets today##Here's a quick round-up of what has so far happened in the markets today

-Domestic equity benchmark BSE Sensex rallied over 662 points in opening session on Monday after the government rolled back the enhanced surcharge on foreign portfolio investors, and unveiled a slew of measures to boost the economy.

-At 15.02 pm, the Nifty traded 213 points, or 1.95 percent, up at 11042. The Sensex was higher by 740 points, or 2 percent, at 37,441.

-The Nifty PSU Bank index rose over 6 percent on Monday after finance minister Nirmala Sitharaman announced a Rs 70,000 crore recapitalisation plan for PSU Banks. 

-Domestic metal stocks were down 4-6 percent on fears that the escalating trade war between the US and China will push down global base metal prices due to weak demand in the future if global economies enter into recession.

Here's how Zomato-NRAI tussle is set to spoil your dinner##Here's how Zomato-NRAI tussle is set to spoil your dinner

The ongoing stand-off between online food aggregators and the National Restaurant Association of India (NRAI), a trade body that represents more than 5 lakh restaurants in the country, over deep discounting practices is nothing but part of a larger global debate on tapping the basic psyche of a consumer: "Get more for less".

The mere feeling that you are buying something at a bargain price is enough to persuade you to place an order. Look at Amazon, Apple, Big Bazaar or shops at any mall near you, which thrive on promotions, discounts and coupons for the consumers (riding on heavy promotional offers, especially on iPhone XR, Apple has regained top position in the premium smartphone segment in India after a very long time). READ MORE

Shares of InfoEdge, the parent company of Zomato, traded 5 percent lower on NSE, quoting at Rs 1,842.15. The Nifty50 traded 73 points up, or 0.67 percent, at 10,902.

Metal companies down 4-6% on escalating US-China trade war##Metal companies down 4-6% on escalating US-China trade war

Domestic metal stocks were down 4-6 percent on fears that the escalating trade war between the US and China will push down global base metal prices due to weak demand in the future if global economies enter into recession. The Nifty Metal index was down nearly 4 percent, with shares of Tata Steel down 5.5 percent at Rs 326.25, Vedanta shares were down 5.4 percent at Rs 130.05, while those of JSW Steel were down 5 percent at Rs 210.20. Hindalco Industries stock was down 4.4 percent at Rs 172.20, while that of Steel Authority of India was down 4.6 percent at Rs 29.90. So far in 2019, the Nifty Metal index was down over 30 percent.

CLSA: Capital infusion in PSUs a plus but push on rate cut a risk##CLSA: Capital infusion in PSUs a plus but push on rate cut a risk

Finance minister Nirmala Sitharaman on Friday announced key reforms for foreign portfolio investors (FPIs), public sector banks and the auto sector among others. An upfront recap of PSU banks within budgeted levels, refinancing lines to housing financiers, and support for a credit guarantee for non-banking financial companies (NBFCs) are three of the key positives from the announcements, CLSA said in a research report. The report said: “Capital infusion of Rs 700 billion in PSU banks is to be upfront rather than late in the year. This would mostly be via recap bonds, so it would be cash and fiscal-neutral." READ MORE