CNBC-TV18 Market Highlights: Sensex ends 202 points lower, Nifty below 12,050; banks drag

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

- Market Starts The Week On A Subdued Note; Nifty Below 12,100 After 5 Sessions

- While IT Stocks Provide Mild Support, HDFC and Reliance Industries Drag Nifty The Most

- Kotak Mahindra and Axis Bank Are The Only Two Nifty Bank Constituents To End Higher

- SBI and ICICI Bank Contribute More Than 60 Percent To Nifty Bank’s Loss Today

- Rally In Some Midcap Stocks Fail To Keep Index Higher; Midcap Index Sheds 0.9 Percent

- Balkrishna Industries and Muthoot Finance Scale Intraday Record Highs Today

- IndusInd Bank Slips 3 Percent From High Point To End At 52-week Low

- UPL and Axis Bank End Above 200-DMA; Nestle Ends As Top Nifty Gainer

- Bharti Airtel Notches Intra-day 52-Week High; Company Begins Payment Of AGR Dues

- Gain In TCS and Infosys Aid Nifty IT To Become The Only Sectoral Index To End Higher

- Management’s Comments w.r.t A Confident FY21 Fail To Push Glenmark Higher, Ends Down 7 Percent

- LIC Housing’s Management Confirms No Plans Of A Merger With IDBI Bank; Stock Ends 8 Percent Off Lows

- Market Breadth In Favour Of Declines With Advance-Decline Ratio At 2:5

Closing Bell: Sensex, Nifty end lower as telecom exposure weigh on bank stocks; Nifty PSU Bank index down 3%##Closing Bell: Sensex, Nifty end lower as telecom exposure weigh on bank stocks; Nifty PSU Bank index down 3%

Indian shares ended lower on Monday as telecom exposure weighed on banking stocks. The Supreme Court on Friday slammed the telecom companies, as well as the Department of Telecom (DoT) for the telcos failing to submit the AGR dues and also directed for contempt proceedings to be launched against the network operators. 

The BSE Sensex ended 202 points lower at 41,056, while the Nifty50 index settled 68 points lower at 12,046. Meanwhile, the broader markets were also in the red with the Nifty Midcap index and Nifty Smallcap index down 0.8 percent and 1.3 percent, respectively.

Among stocks, Titan, GAIL, Nestle India, TCS, and Vedanta were the top gainers on the Nifty50 index, while Yes Bank, Coal India, Cipla, ONGC, and BPCL led the losses. Most major sectoral indices were negative for the day. Nifty PSU Bank index fell the most, down 3 percent, whereas Nifty Pharma and Nifty Realty shed 1.5 percent each. Nifty Metal lost 1 percent and Nifty Auto was also down 0.5 percent. Nifty Bank was also in the red for the day, down 0.4 percent.

Here are ICICI Securities' top bets in the engineering and capital goods sector

Coronavirus to have a short-term impact on Indian firms, says Vaibhav Sanghavi of Avendus Capital##Coronavirus to have a short-term impact on Indian firms, says Vaibhav Sanghavi of Avendus Capital

Coronavirus, which has killed 1,770 people globally so far, is likely to have a short-term impact on Indian companies, Vaibhav Sanghavi, co-CEO and fund manager at Avendus Capital, told CNBC-TV18. “Industries like pharmaceuticals or consumer durables...are those guys who will face some amount of shortage issues for their own production. So, there would be some amount of impact, but we have to be very clear that whatever impact comes, it is going to be very short term," Sanghavi said.

Sanghavi likes banking, consumer staples and consumer discretionary sectors. “We continue to like banks especially private banks, both retail and corporate. Those guys who have capital, have management bandwidth, have risk mitigation processes well engrained and are able to capture the market share are the ones who stand to benefit. We are also bullish on consumer discretionary and staples, both primarily led by a recovery in the rural economy wherein food inflation is kicking up both protein and vegetable prices,” he said. READ MORE

Here's why this smallcap pharmaceutical stock rallied 200% in a month##Here's why this smallcap pharmaceutical stock rallied 200% in a month

This smallcap pharmaceutical stock is the only one from this space to have rallied over 200 percent in the past one month. Despite reporting a weak quarter,  Suven Life Sciences is witnessing a continuous rally after its recent demerger with Suven Pharmaceuticals Limited (SPL).

On January 21, the company released a regulatory filing stating the cost of acquisition of shares in both companies. Since then the stock climbed 205 percent (in 20 trading sessions) and nearly 90 percent since February 1. After the NCLT approval for the scheme of demerger on January 6, the scheme became operational from January 9. The board of directors had approved the scheme in February 2019. READ MORE

BSE Stocks Update: 20 out of 30 BSE stocks trade in the red##30 BSE Stocks Update: 20 out of 30 BSE stocks trade in the red

Nifty50 Sectoral Indices Update: PSU Bank index remained the worst-performing so far##Nifty50 Sectoral Indices Update: PSU Bank index remained the worst-performing so far

Mutual funds preferred telecom sector the most in January; value rises for third month in a row##Mutual funds preferred telecom sector the most in January; value rises for third month in a row

The telecom sector registered a rise of 23.6 percent in market value for the third consecutive month in January 2020, touching Rs 29,148 crore as against Rs 23,588 crore in December 2019, an IDBI Capital report stated.

On a year-on-year basis, the rise was over 140 percent. In January 2019, the market value of the sector was at Rs 12,121 crore, the report added. In December as well, the market value of the sector rose 17 percent QoQ to Rs 23,575 crore, from Rs 22,518 crore in November.

Motilal Oswal also noted that the telecom weight increased for the third successive month up 40 basis point to hit an all-time high of 2.4 percent. The report also said Bharti Airtel saw a maximum increase in value at Rs 5,630 crore. 

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This multibagger rallied over 146% in one year##This multibagger rallied over 146% in one year

Strong earnings performance of Gujarat Gas, coupled with the favourable order book, has led to a sharp rise in the stock price — the stock has risen more than 146 percent in the last one year and 23.62 percent so far this year.

In the December quarter, the company reported a volumes growth of 42.1 percent YoY at 9.32 mmscmd, largely led by a boom in industrial volumes that grew 58.7 percent YoY to 7.11 mmscmd. CNG volumes grew 6.1 percent YoY to 1.51 mmscmd.

The company has benefited after the National Green Tribunal's order to shut all coal-operated units of ceramic companies in Morbi, Gujarat.

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Coronavirus impact: Opec may cut production marginally, says Moody’s Investors Service##Coronavirus impact: Opec may cut production marginally, says Moody’s Investors Service

The impact of coronavirus would be felt mostly on sectors that are directly linked to the consumer such as retail, hospitality and transportation and there could be a spillover effect on commodities like oil, says Vikas Halan, Senior Vice President - Corporate Finance Group at Moody's Investors Service.

Speaking about the coronavirus’ impact on crude demand and prices, he said: “In terms of uncertainty with respect to the outbreak, a lot of it has already been factored in, provided there are no further surprises on data. There has been some backlog of demand that will start flowing in and as demand picks up, we will see that impact getting factored in after the coronavirus outbreak subsides.”

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Sun TV's share price slip over 8 percent post-earnings##Sun TV's share price slip over 8 percent post-earnings

The stock price of Sun TV slipped over 8 percent post the company's Q3 earnings. 

The total income dipped 7.89 percent to Rs 914.17 crore during the quarter under review, as against Rs 992.58 crore in the corresponding period of the previous fiscal.

The company reported a 7.15 percent increase in consolidated profit after tax for the December quarter at Rs 384.69 crore.

Intraday, the stock slipped 8.45 percent at Rs 455 per share on the NSE. 

Edelweiss shares decline 11% on weak Q3 results##Edelweiss shares decline 11% on weak Q3 results

Edelweiss Financial Services declined over 11 percent on Monday after it posted a 92.61 percent year-on-year (YoY) fall in net profit at Rs 16.71 crore for Q3. The firm had reported a profit of Rs 226.11 crore in the corresponding quarter last year.

The stock fell as much as 11.5 percent to Rs 78.25 per share on BSE. At 10:50 am, the stock was trading 9.8 percent lower at Rs 79.70 as compared to a 0.01 percent or 6 points rise in BSE Sensex at 41,263.

Total revenue from operations also declined 8.41 percent to Rs 2,639.65 crore in Q3, while consolidated expenditure rose to Rs 2,598.06 crore in the December-quarter as against Rs 2,439.14 crore in the year-ago period.

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