Market Highlights: Sensex, Nifty end with minor gains, bank, auto stocks offset losses in IT, FMCG; TCS dips 3%

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 and before we sign off from today’s our rolling coverage of the stock markets, here’s a snapshot of major highlights:

-Sensex and Nifty end with minor gains amid volatility
-Sensex Closes 42 points lower at 40,487 & Nifty up 15 points to 11,937.50
-TCS, L&T and ITC Drag Nifty while HDFC, Reliance and Axis Bank support
-Kotak Mahindra Bank and SBI drag Nifty Bank; index slips 13 points to 16,727
-Midcap Index closes flat with negative bias; market breadth favours declines
-YES Bank moves 8 percent intra-day as reports say lender to reject Braich’s offer
-Coffee Day slips 10 percent as YES Bank likely to have said no to NOC for Tech Park deal
-Maruti snaps 7-day losing streak after co reports production increase in November
-Tata Motors slip 4 percent from highs as November JLR retail sales come in 3.4 percent lower YoY
-BPCL and SCI gains on reports of UK roadshow for govt stake sale
-Adani Group stocks higher after positive commentary from Gautam Adani

Closing Bell: Sensex, Nifty settle with minor gains, HDFC, Reliance Industries, Axis Bank support indices##Closing Bell: Sensex, Nifty settle with minor gains, HDFC, Reliance Industries, Axis Bank support indices

Indian shares ended with minor gains on Monday amid lingering growth concerns and sustained foreign fund outflows. The benchmark 30-share S&P BSE Sensex added over 42 points, or 0.10 percent, to settle at 40,487 at close. The broader 50-share NSE Nifty50 also gained 16 points, or 0.13 percent, to settle at 11,937.50. Broader market indices underperformed with the Nifty MidCap 100 index down 0.08 percent. The Nifty SmallCap 100 index also dropped 0.78 percent. Sectoral indices were mixed with Nifty Realty, Media, IT and FMCG declining the most between 0.5 and 1.6 percent. The Nifty Auto surged 0.80 percent, while Nifty Financial Services and Metal rose by up to half a percent. Among gainers, BPCL, Axis Bank, Adani Ports, HDFC and Maruti Suzuki rose by up to 2.11 percent. Among Nifty losers, TCS, HCL Technologies, Cipla, L&T and Zee Entertainment fell by up to 3 percent. 

Sensex heatmap at close: Axis Bank, HDFC, Maruti top gainers, TCS falls 3%##Sensex heatmap at close: Axis Bank, HDFC, Maruti top gainers, TCS falls 3%

Tata Elxsi at 3-month high on hope JLR earnings to improve##Tata Elxsi at 3-month high on hope JLR earnings to improve

Shares of Tata Elxsi jumped to a three-month high of Rs 879.50 as prospects for the company improved after its biggest client, Jaguar Land Rover, reported a rise in sales in China, the company's key market, for the fifth consecutive month in November. Jaguar Land Rover contributes 20-25% to Tata Elxsi's annual sales. Jaguar Land Rover's retail sales in China rose 29 percent on year in November, which has made investors bet on a recovery in the luxury carmaker's earnings. China contributes around 40 percent to Jaguar land Rover's volumes. At 3.07 pm, shares of Tata Elxsi were up 0.7 percent at Rs 856.10.  

India VIX surges 13% as worries over economic growth remain##India VIX surges 13% as worries over economic growth remain

Volatility gauge India VIX surged as much as 13 percent as concern over local economic growth and sustainability of institutional inflows in the market made investors anxious. The high selling in call options of the Nifty 50 suggests that the index is not seen staging a recovery anytime soon, and added to the volatility in the market. At 2.55 pm, the Nifty 50 was at 11942.30, up 0.2 percent from the previous close while India VIX was up 11 percent at 15.1200.

Nifty50 Sectoral Indices Update: 5 out of 11 sectoral indices in red##Nifty50 Sectoral Indices Update: 5 out of 11 sectoral indices in red

Out of 11 Nifty50 sectoral indices, Nifty Realty fell the most, down 1.02 percent followed by nifty FMCG and Nifty IT. Nifty Auto was the best-performing index, up 0.91 percent on Monday. 

BSE Stocks Update: 12 out of 30 BSE shares trade in the red, TCS top loser##BSE Stocks Update: 12 out of 30 BSE shares trade in the red, TCS top loser

Out of 30-share Sensex, 12 are trading in the red. TCS remained the top loser, down 2.32 percent followed by HCL Technologies, Hindustan Unilever, Kotak Mahindra Bank and SBI among few others. 

Reliance Jio says its average customer unlikely to ever pay for outgoing calls##Reliance Jio says its average customer unlikely to ever pay for outgoing calls

Reliance Industries (RIL) telecom arm Reliance Jio has claimed that its average customer is never likely to pay for the calls as it offers five times more free outgoing calls limit on other networks than what is required by the customer.

"Entitlement for off-net calls in Jio's 'All in One Plans' is more than 5 times of what an average customer uses as per industry data and consequently, an average Jio customer is unlikely to have to ever pay for off-net calls. We reiterate that Jio plans offer up to 25 percent higher value than comparable plans of other operators," the company said in a statement. READ MORE

Udayan Mukherjee says markets lack support of strong earnings growth##Udayan Mukherjee says markets lack support of strong earnings growth

Strong and robust earnings growth is the foundation of a bull market and Indian markets lack such support, said CNBC-TV18's Udayan Mukherjee. "It is a small miracle that the market has turned in some performance for investors even in the backdrop of such tepid earnings growth," he added.

"This quality bubble, which we have got used to over the last two-three years, is basically indicating that the patience of investors is running thin," said Mukherjee.

He pointed out that only a narrow set of stocks delivered the returns and turning in the performance, but portfolios have not done well in 2019. Here's the link to the article for you to read. 

Bank of Baroda to sell up to 1.04 equity shares of UTI AMC via IPO##Bank of Baroda to sell up to 1.04 equity shares of UTI AMC via IPO

VA Tech Wabag's shares rally 16% after executing Chennai Metro water supply project worth Rs 482 crore##VA Tech Wabag's shares rally 16% after executing Chennai Metro water supply project worth Rs 482 crore

Bharat Bond ETF to open on December 12, base size Rs 7,000 crore##Bharat Bond ETF to open on December 12, base size Rs 7,000 crore

The government has obtained approval from the Securities and Exchange Board of India for the Bharat Bond exchange-traded fund and the ETF will be open for subscription from December 12 to December 20, a government official told CNBC-TV18.

The Bharat Bond ETF will have a base size of Rs 7,000 crore base size, with a likely greenshoe option of Rs 8,000 crore, said the official. Click here to read more.

Here's a quick round-up post of all the events that happended so far##Here's a quick round-up of all the events that happened so far

1. Tata Motors JLR retail sales decline 3.4 percent YoY at 46,582 units

2. SBI reduces lending rates by 10bps

3. Gautam Adani says to CLSA that the group will be entering airports, defence and transportation business

4. Dish TV's shares jump over 11% after CARE revises bank facilities rating

5. Vodafone Idea's shares plunge 14% after KM Birla's comments on shutting the company spooks investors

VST Tillers is a zero debt company, says Anthony Cherukhara of VST Tillers##VST Tillers is a zero debt company, says Anthony Cherukhara of VST Tillers

Here are some of the key takeaways from the conversation:

1. Looking at 6-7 percent growth decline in the tractor segment
2. Yet to get subsidies from key states like Assam and Odisha
3. Could see growth decline of 15-20 percent in tiller segment without government subsidies
4. Expecting subsidies from Odisha government by December-end for 4,000-6,000 tillers
5. VST Tillers is a zero debt company 
6. No plans to monetize any land bank at the moment
7. Company slowly scaling up production of tractors with higher horsepower