CNBC-TV18 Market Highlights: Sensex, Nifty settle lower, ZEEL jumps 12%, BPCL dips 6%

Thank you readers! Here are the main highlights from today's trading session##Thank you readers! Here are the main highlights from today's trading session

Thank you readers, before we wrap up CNBCTV18.com's live coverage, here's a quick round up of what happened in the stock markets today:

Market ends near day’s low amid volatility.

-Sensex slips 170 points from highs, Nifty closes below 12,000.

-Midcap index underperforms benchmarks; ends 132 points lower.

-Nifty Bank closes flat after 220-point trading range; Axis Bank top loser.

-Promoter Essel Group selling 16.5 percent helps Zee Entertainment gain over 12 percent.

-Relief for telcos leads to a profit booking, Bharti down 2.5 percent, Vodafone Idea slips 6 percent.

-Divestment candidates (BPCL, CONCOR & SCI) slip after cabinet approval.

-Reports of Adani being top contender help DHFL close at upper circuit.

-Infra stocks gain on cabinet decisions; IRB Infra up over 12 percent.

-Market breadth favours declines; advance-decline ratio at 2:3.

Closing Bell: Sensex dips 76 points, Nifty below 12K mark, ZEEL jumps 12%##Closing Bell: Sensex dips 76 points, Nifty below 12K mark, ZEEL jumps 12%

The BSE Sensex settled Thursday's trade 76 points lower, or 0.19 percent, at 40,575. The NSE Nifty50 also slipped almost 31 points, or 0.26 percent, to settle at 11,968. The Nifty MidCap 100 index fell 0.78 percent, while the banking gauge, Nifty Bank ended flat. Among stocks, Zee Entertainment surged nearly 12 percent, while Eicher Motors, Dr Reddy's Labs, Adani Ports and Hindustan Unilever gained between 1 and 2.10 percent. BPCL topped the laggards on NSE dipping almost 6 percent, while Coal India, Tata Steel, Yes Bank and Bharti Airtel declined between 2 and 3.5 percent.

Sensex heatmap at close: HUL, L&T top gainers, Tata Steel, Bharti Airtel top losers##Sensex heatmap at close: HUL, L&T top gainers, Tata Steel, Bharti Airtel top losers

This stock doubled investor wealth in 5 years. Should you still buy?##This stock doubled investor wealth in 5 years. Should you still buy?

Tata Global Beverages has risen steadily in the last five years, doubling investor wealth. The stock rose from Rs 150 in 2014 to Rs 306 currently, gaining 103 percent in five years. To put in perspective, an investment of Rs one lakh in 2014 would have turned to Rs 2,03,000 today. The stock hit its 52-week high of Rs 322.70 per share on BSE on November 1, 2019, and a 52-week low of Rs 177.50 on February 11, 2019. Its current market capitalisation stands over Rs 19,000 crore. READ MORE

CSB Bank IPO opens on November 22: Key things to know##CSB Bank IPO opens on November 22: Key things to know

Kerala-based CSB Bank, formerly known as Catholic Syrian Bank, has announced the details of its Rs 410 crore initial public offering. The CSB Bank IPO comprises a fresh equity issue and an offer for sale of existing investors. CSB Bank, one of the oldest private sector banks in India with a history of over 98 years, is backed by Fairfax India Holdings through FIH Mauritius Investments. As on September 30, the bank has 412 branches and serves 1.3 million customers.

Click or tap here for the key details

Reliance Cap down 5% as Delhi high court restricts asset sale##Reliance Cap down 5% as Delhi high court restricts asset sale

Shares of Reliance Capital hit their 5 percent lower price band of Rs 17.15 after the Delhi high court restricted the company from sale, disposal or creation of any encumbrance on assets, including its 4.28 percent stake in an asset management arm till December 16. The high court's order was reportedly passed on a plea by Mazson Builders seeking recovery of Rs 77 crore dues from Reliance Capital.  

Here's why Axis Securities has raised its long-term target price by 26% on L&T##Here's why Axis Securities has raised its long-term target price by 26% on L&T

Axis Securities has maintained a 'buy' rating on Larsen & Toubro (L&T) with a long-term target price of Rs 1,736. The target price has an upside potential of 26 percent from the company's closing price of Rs 1,380.65 per share on Wednesday, the firm said. READ MORE

BSE Stocks Update: 11 out of 30 stocks trade in the green##BSE Stocks Update: 11 out of 30 stocks trade in the green

11 out of 30 BSE Sensex stocks trade in the green on Thursday. L&T remained the top gainer in the index, rising 1.40 percent while Bharti Airtel was the top loser, falling 3.16 percent. 

At 2:00 pm, the Sensex was trading 15.81 points or 0.04 percent at 40,667.45.

Nifty Indices Update: 6 out of 11 sectoral indices in green##Nifty Indices Update: 6 out of 11 sectoral indices in green

Nifty Media remained the best-performing index on Thursday, rising 4.52 percent on the back of gains in Network 18 and Zee Entertainment. Meanwhile, Nifty Metal remained the worst-performing index, down 1.19 percent. 

At 1:50 pm, the Nifty50 index was trading 4.60 points or 0.04 percent lower at 11,994.50.

Resolution of Essar Steel, government move is very positive, says Motilal Oswal AMC##Resolution of Essar Steel, government move is very positive, says Motilal Oswal AMC

Motilal Oswal AMC on CNBC-TV18                

1. Government move on privatization is very positive
2. Govt intent on BPCL divestment will rerate the stock
3. BPCL can expand its scope of business once privatized
4. Betting big on the life insurance sector, have allotted 18% to it
5. Life insurance is an under-penetrated sector, it can deliver big returns 6. 
6. Private banks are at 38 percent of our portfolio, positive on this space
7. Autos and healthcare occupy 10 percent each in our portfolio
8. Betting on domestic pharma story rather than export 

Zee Entertainment has become the highest institutional owned stock in India overtaking HDFC##Zee Entertainment has become the highest institutional owned stock in India overtaking HDFC 

With Essel Group's promoters selling close to 15 percent stake to institutional investors today via block deal, Zee has become the highest institutional owned stock in India. 

Post today's block deal, institutional investors will hold a 76.7 percent stake in Zee, overtaking HDFC’s institutional holdings of 72.87 percent 

Other large institutionally owned stocks in India include largely financial names like IndusInd Bank (57.84 percent), ICICI Bank (54.58 percent) and Axis Bank (54.37 percent). 

UPL (53.14 percent) and Infosys (51.65 percent) are the other 2 companies, where institutional holding is more than 50 percent. 

APL Apollo Tubes' shares up over 2%##APL Apollo Tubes' shares up over 2%

The share price of APL Apollo Tubes surged over 2 percent on Thursday after the company said ICRA reaffirmed the company's long and short-term ratings.

Rating agency ICRA reaffirmed "ICRA AA-" as long-term rating and "ICRA A1+" as short term rating for Rs 1,327.51 crore line of credit of the company. The rating agency kept the long term outlook on the stock as stable. 

At 1:10 om, the shares were trading 1.70 percent higher at Rs 1,568.70 per share on the NSE. 

Shares of Cadila Healthcare surge 2% post US FDA approval##Shares of Cadila Healthcare surge 2% post US FDA approval

The share price of Cadila Healthcare surged over 2 percent intraday on Thursday after the pharma major received US FDA approval. The company received the approvals for Isosorbide Dinitrate Tablets and Desonide Cream. 

At 12:47 pm, the shares were trading 1.66 percent higher at Rs 253.60 per share on the NSE.