CNBC-TV18 Market Highlights: Sensex, Nifty end at record closing highs led by banks, auto stocks; Yes Bank surges 8%

Here's a quick roundup of all market action of the day:##Here's a quick roundup of all market action of the day:

- Sensex, Nifty and Nifty Bank Post Record Closing Highs

- Sensex Gains 199 Points To Close Above 41,000 For The First Time Ever

- Nifty Advances 63 Points To End The Wednesday Session At 12,100.70

- Nifty Bank Gains 158 Points To 31,876 and Midcap 128 Points To 17,043

- Financials Along With Reliance Major Contributors To Market Gains

- HDFC, Reliance and SBI Top Nifty Contributors

- 10 Of 12 Nifty Bank Constituents Close Higher; SBI, Kotak Bank Top Gainers

- YES BANK Top Nifty Gainer Ahead Of November 29 Board Meet On Fundraising

- RBL Bank Hits 2-month High On Reports Of Rs 2,000 Crore QIP

- BPCL Back Above Rs 500/Share Ahead Of Government Meeting With Advisers For Stake Sale

- Biocon Surges Over 4.5 percent As Bengaluru Biologics Unit Get US FDA Nod

- Market Breath Favours Advances; Advance-Decline Ratio At 1:1

- Ujjivan Moves 5 percent Higher; Small Finance Bank’s Rs 750 Crore IPO Opens On December 2

- Except Media and  Realty, All Sectoral Indices Close Higher; PSU Bank Top Gainer

Sectoral Trend: Major buying was seen in banks, auto, and IT stocks##Sectoral Trend: Major buying was seen in banks, auto, and IT stocks

Top Nifty gainers and losers at closing##Top Nifty gainers and losers at closing

Closing Bell: Sensex, Nifty end at record closing highs led by banks, auto stocks##Closing Bell: Sensex, Nifty end at record closing highs led by banks, auto stocks

Indian shares ended higher on Wednesday, with both Sensex and Nifty at their record closing highs led by gains in banking, auto, metal, and IT stocks, ahead of November F&O expiry due tomorrow. The Sensex ended 199 points higher at new closing high of 41,021, as against its previous high of 40,889 hit on November 25, while Nifty also settled 63 points higher to its new closing high of 12,101 as against its previous closing high of 12,088 hit on June 3. 

Sentiment was also boosted tracking broader Asian equities, as upbeat comments by US President Donald Trump stoked hopes that Washington and Beijing would hammer out an interim trade deal soon.

Emkay Research remains upbeat about telecom, says Bharti Airtel at a good opportunity to buy##Emkay Research remains upbeat about telecom, says Bharti Airtel at a good opportunity to buy

The telecom sector has been trending ever since the Supreme Court came out with its ruling on adjusted gross revenue (AGR). Despite the moratorium relief provided by the finance minister, the telcos are still staring at their poor financials and falling market share. Despite all the negatives, Emkay Research believes that there's an opportunity in the sector and thus, gave an 'equal weight' stance on the sector with an 'overweight' call on Bharti Airtel. 

Meanwhile, Vodafone Idea continued to see pressure with a 6 percent QoQ revenue decline and 66bps decline in revenue market share. The telco has lost market share in 20 out of 22 circles which contribute 95 percent to its AGR. READ MORE

Zee board rejig: New appointees lack experience, says IiAS' Amit Tondon##Zee board rejig: New appointees lack experience, says IiAS' Amit Tondon

There has been a reshuffle of the board at Zee Entertainment Enterprises after Subhash Chandra resigned as chairman. There have also been new appointments as far as independent directors are concerned. Amit Tandon, MD of Institutional Investor Advisory Services (IiAS), and Shriram Subramanian, founder and MD of InGovern, discussed with CNBC-TV18 what the market makes of this reshuffle.

Tandon said he believes Zee Entertainment could have waited before announcing the board rejig. “Given the fact that all these changes happened in shareholding, the company could have waited for 4-6 weeks to absorb all this, have a meaningful dialogue with investors in terms of understanding what their expectations are before they went ahead and announced these changes,” Tandon added. READ MORE

Metal stocks to sustain price recovery as China's steel production rises; index up 8% in one month##Metal stocks to sustain price recovery as China's steel production rises; index up 8% in one month

Metal stocks in the last few days surged the most on renewed hopes of positive developments between the US and China. China remains a vital market for steel production and export. Thus, there was a surge in the Nifty metal index of nearly 8 percent over the last month as steel production in China rose 6 percent YTD.

According to a report by Edelweiss, the latest domestic hike follows the global increase in prices and has lifted spreads by 5-20 percent across regions. Three main reasons behind the uptrend in the pricing visible globally are i) US prices are currently $600/tonnes, up 8 percent from its low in October. ii) In Europe as well, the price increase of nearly 4 percent (to $485/ tonnes) seems to have been absorbed well. iii) Chinese domestic prices have picked up RMB100/tonnes to nearly RMB3,700/tonnes over the three-week period. READ MORE

Exclusive: Sachin Bansal on his investment strategy, his special interest in finance and the sectors he is bullish about

Naturals, as a trend is here to stay, says Hindustan Unilever##Naturals, as a trend is here to stay, says Hindustan Unilever

HUL to CNBC-TV18: 

1. Taking a decision on launch timelines depending on the size of categories

2. Launching products in the body wash, shampoos, conditioners

3. Plan to get the full range of products in natural care to India soon

4. Have had a good response in the pilot launch in Naturals space

5. Naturals as a trend is here to stay

6. Expect market segmentation to happen in Naturals category

7. Growing faster than the market in the Naturals space

8. See healthy growth in beauty and personal care market in the long term

Why Morgan Stanley upgraded this realty stock despite slowdown in the sector##Why Morgan Stanley upgraded this realty stock despite slowdown in the sector

The real estate sector has been a casualty of the liquidity crisis as well as the demand slowdown, yet this realty stock has risen 25 percent in the last one year.

This year has been choppy for DLF yet its stock managed to gain 20 percent on a year-to-date basis. For global brokerage Morgan Stanley, the real estate giant is its top pick in the sector. The brokerage on Sunday upgraded the stock to 'overweight' and raised its target price to Rs 269 from Rs 210 earlier, implying a return potential of 25 percent. READ MORE

Moody's says, "There is uncertainty around BPCL's future strategy."##Moody's says, "There is uncertainty around BPCL's future strategy."

Moody's To CNBC-TV18:

1. Rating factored in government support for BPCL, which we cannot count on now

2. There is uncertainty around BPCL's future strategy and capital structure

3. BPCL has large short and long-term borrowings that become payable on government exit

4. Not sure how the subsidy reimbursement or LPG distribution work

5. The government wants divestment done by March 2020, but there is a lot of work still to be done

6. Have seen refining margins decline to below $1 in November, which is the worst

Ujjivan Small Finance Bank says the company has been in discussion with RBI about a reverse merger in 5 years##Ujjivan Small Finance Bank says company has been in discussion with RBI about a reverse merger in 5 years

Q2FY20 GDP growth could be at 4.5%, says Indranil Pan of IDFC First Bank##Q2FY20 GDP growth could be at 4.5%, says Indranil Pan of IDFC First Bank

The Indian economy expanded 5 percent in the April-June period, its slowest annual pace since 2013. The second-quarter gross domestic product (GDP) data is due this Friday and the expectation is it could be sub 5 percent. "After the 5 percent data for Q1, we were looking at a 5.3 percent number. But after looking at all lead indicators, we are now at 4.5 percent in terms of GDP number for Q2FY20," said Indranil Pan, Chief Economist, IDFC First Bank.

One key lead indicator will be government expenditure, he said, adding that the government has been forwarding its expenditure pattern in a significant way in Q2 and that probably will have a buffering effect on the downside bias that GDP has. READ MORE

Stock gains to be limited in 2020 as economy slows, says poll##Stock gains to be limited in 2020 as economy slows, says poll

Indian stocks are set to rise further over the coming year, according to a Reuters poll of equity strategists, but those gains will be limited as fiscal stimulus and easy monetary policy fail to reverse an economic slowdown. The BSE Sensex index was forecast to rise another 6.7 percent to 43,645 by end of next year from Monday's close of 40,889. It has gained over 13 percent in the past two months and repeatedly set record highs after the government announced several measures, including a corporate tax cut. That expected rise in stocks in the November 11-26 poll of 50 strategists would be half the rally so far this year and similar to the average rate for fixed deposits — a relatively safe asset — in Indian banks. READ MORE