Gold prices today fall for second day, down ₹2,000 per 10 gram in about a week

Gold rates in India had hit a record high last week.

But gold has seen a sharp fall thereafter amid ebbing of US-Iran tensions and optimism ahead of signing of US-China trade deal.

Gold and silver prices continued their recent slide in India. On MCX, February futures were down 0.51% to ₹39,345 per 10 gram, tracking a decline in global rates. Silver prices on MCX fell 0.82% to ₹46,060 per kg. Gold prices have seen a sharp fall after hitting a new high of ₹41,293 in the previous week. "De-escalation of US-Iran tensions and rising optimism over the US-China trade deal have reduced the risk premium on gold," said Abhishek Bansal, chairman of ABans Group of Companies.

In global markets, gold prices dropped sharply today as the risk appetite increased after the US dropped China's designation as a currency manipulator ahead of an interim deal signing between the two countries. Global equities rallied to new highs, pushing spot prices down 0.7% to $1,537.67 per ounce.

A top US official said details of the trade deal will be public on Wednesday, just prior to a signing ceremony. Also weighing on gold is a steady dollar, making gold expensive for holders of other currencies.

The dollar is gaining strength and also weighing on gold prices, said Mr Bansal.

Among other precious metals, silver prices declined 1% to $17.79 per ounce, while platinum slipped 0.6% to $967.78.

Gold may witness profit booking as expectations of an interim trade deal signing between the US and China boosted the dollar and dented some of bullion's safe-haven appeal, SMC Global Securities said in a note.

Back in India, the commerce ministry has sought a significant reduction in the import duty on gold in the forthcoming budget, news agency Press Trust of India reported, citing sources. Gold prices in India includes 12.5% import duty and 3% GST.

The latest tranche of sovereign gold bonds (2019-20 - Series VIII) has opened for subscription. The issue closes on 17th January. It is priced at at ₹4,016 per gram of gold. Investors applying online and making payment online get a discount of ₹50 per gram. So for such investors, the issue price of gold bond will be ₹3,966 per gram of gold. In terms of taxation, capital gains at maturity is tax-free. This is an exclusive benefit available on gold bonds.

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Tata Steel moves up on registering marginal increase in production volume to 4.46 MT in Q3FY20

Tata Steel is currently trading at Rs. 488.25, up by 5.25 points or 1.09% from its previous closing of Rs. 483.00 on the BSE.

The scrip opened at Rs. 484.30 and has touched a high and low of Rs. 491.30 and Rs. 479.95 respectively. So far 333955 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 560.35 on 02-May-2019 and a 52 week low of Rs. 320.30 on 09-Oct-2019.

Last one week high and low of the scrip stood at Rs. 491.30 and Rs. 467.00 respectively. The current market cap of the company is Rs. 58700.82 crore.

The promoters holding in the company stood at 33.12%, while Institutions and Non-Institutions held 43.89% and 22.01% respectively.

Tata Steel has registered a marginal 1.8 percent increase in production volume in India to 4.46 million tonnes (MT) (provisional) in the third quarter of the ongoing fiscal (Q3FY20). The company’s production volume was at 4.38 MT (actual) in the year-ago period. The company’s sales volume in Q3FY20 increased by 17 percent quarter-on-quarter (Q-o-Q) with improved market sentiment. Sales volume to auto segment was maintained during the quarter.

The branded product and retail segment grew 23 percent Q-o-Q, while industrial products and projects grew 12 percent Q-o-Q. Tata Steel Europe's 3QFY20 production and sales volume was flattish on Q-o-Q basis. Tata Steel South East Asia operations registered lower production volume Q-o-Q due to continued sluggishness in Singapore and Thailand markets.

Tata Steel, the flagship company of the Tata group is the first integrated steel plant in Asia and is now the world’s second most geographically diversified steel producer and a Fortune 500 company.

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JK Tyre shines on expecting around 50% growth in exports during FY20

JK Tyre & Industries is currently trading at Rs. 75.10, up by 2.50 points or 3.44% from its previous closing of Rs. 72.60 on the BSE.

The scrip opened at Rs. 75.50 and has touched a high and low of Rs. 79.30 and Rs. 74.70 respectively. So far 90992 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 106.30 on 07-Jan-2019 and a 52 week low of Rs. 53.55 on 06-Aug-2019.

Last one week high and low of the scrip stood at Rs. 79.30 and Rs. 72.25 respectively. The current market cap of the company is Rs. 1859.04 crore.

The promoters holding in the company stood at 56.23%, while Institutions and Non-Institutions held 5.05% and 38.73% respectively.

JK Tyre & Industries is expecting exports to grow around 50 percent in the ongoing fiscal (FY20) to clock over Rs 800 crore, which along with domestic replacement market will help offset the decline in direct sales to automobile makers.

Due to the ongoing slump in the Indian automobile sector, the company has seen a contribution from the Original Equipment Manufacturer (OEM) segment to its overall sales decline to around 20 percent from an earlier 32-33 percent.

JK Tyre & Industries is a one of the leading tyre manufacturers in India and amongst the top 25 manufacturers in the world with a wide range of products catering to diverse business segments that includes Truck/Bus, LCV (Light commercial vehicles), Passenger Cars, MUV (Multi utility vehicles) and Tractors.

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HCL Technologies inches up on opening Global Delivery Center in Canada

HCL Technologies is currently trading at Rs. 561.00, up by 0.40 points or 0.07% from its previous closing of Rs. 560.60 on the BSE.

The scrip opened at Rs. 561.00 and has touched a high and low of Rs. 563.95 and Rs. 560.00 respectively. So far 7169 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 595.00 on 30-Apr-2019 and a 52 week low of Rs. 460.08 on 11-Jan-2019.

Last one week high and low of the scrip stood at Rs. 575.00 and Rs. 559.50 respectively. The current market cap of the company is Rs. 152168.77 crore.

The promoters holding in the company stood at 60.00%, while Institutions and Non-Institutions held 36.59% and 3.40% respectively.

HCL Technologies has opened a Global Delivery Center (GDC) in Moncton, New Brunswick, Canada. The GDC will focus on technology areas in application development, support, testing, and servicing global clients.

HCL Technologies is a leading global IT services company that helps global enterprises re- imagine and transform their businesses through digital technology transformation.

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IndiGo gains on starting four-day Christmas, New Year sale

IndiGo is currently trading at Rs. 1304.80, up by 4.25 points or 0.33% from its previous closing of Rs. 1300.55 on the BSE.

The scrip opened at Rs. 1300.55 and has touched a high and low of Rs. 1306.60 and Rs. 1297.80 respectively. So far 13623 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1911.00 on 23-Sep-2019 and a 52 week low of Rs. 1048.85 on 22-Jan-2019.

Last one week high and low of the scrip stood at Rs. 1321.70 and Rs. 1280.00 respectively. The current market cap of the company is Rs. 50138.96 crore.

The promoters holding in the company stood at 74.89%, while Institutions and Non-Institutions held 20.87% and 4.25% respectively.

InterGlobe Aviation (IndiGo) has started four-day Christmas and New Year sale, with approximately a million seats on offer. Customers can avail lucrative deals on their flights with domestic fares starting at Rs 899 and international fares at Rs 2,999, provided the tickets booked fifteen days in advance. The sale will be valid for travel between January 15, 2020 and April 15, 2020.

InterGlobe Aviation provides air transportation services in India and internationally. The company primarily operates IndiGo passenger airline.

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Godrej Properties shines on adding 4 new projects in MMR, Bengaluru

Godrej Properties is currently trading at Rs. 941.60, up by 11.50 points or 1.24% from its previous closing of Rs. 930.10 on the BSE.

The scrip opened at Rs. 941.50 and has touched a high and low of Rs. 952.00 and Rs. 934.65 respectively. So far 3202 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1118.00 on 01-Jul-2019 and a 52 week low of Rs. 644.50 on 01-Jan-2019.

Last one week high and low of the scrip stood at Rs. 952.00 and Rs. 870.40 respectively. The current market cap of the company is Rs. 23847.71 crore.

The promoters holding in the company stood at 64.45%, while Institutions and Non-Institutions held 24.02% and 11.53% respectively.

Godrej Properties has added four new projects in Mumbai Metropolitan Region (MMR) and Bengaluru comprising 12.7 million square feet of developable area. The company has added three new projects at Navi Mumbai, Ambernath, and Thane in MMR and one new project in North Bengaluru. These new projects will add approximately 1.18 million square metres (12.70 million square feet) to its development portfolio.

Godrej Properties is a realty firm of Godrej group and it is one of the leading real estate development companies in India based in Mumbai, Maharashtra. Currently, their business focuses on residential, commercial and township developments.

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Top stocks in focus today: RCom, Sun Pharma, IDBI Bank

ITC said certain individuals and NGOs have filed petition against high court ruling on cigarette warning.

Glenmark Pharmaceuticals has receives ANDA approval for Norethindrone Acetate and Ethinyl Estradiol Tablets USP and Ferrous Fumarate Tablets, 1 mg/20 mcg.

IDBI Bank to terminate rating engagement with Moody’s for MTN program.

Sun Pharma announces that the USFDA has accepted a New Drug Application (NDA), filed by its wholly owned subsidiary, for OTX-101 (cyclosporine A, ophthalmic solution) 0.09%, a novel nanomicellar formulation of cyclosporine A 0.09% in a clear, preservative-free aqueous solution..

The company announced Offer for sale of Share to eligible employees of NBCC (India) Ltd. The overall pool size of shares available to NBCC's employees under Employee Share Sale would be up to 25,16,013 equity shares of face value of Rs. 2/- each ('Equity Shares').

Reliance Communications announced exit from SDR framework with zero write-offs to lenders.

Apollo Tyres which recently raised Rs1,500cr through a QIP, is looking to partially deploy the resources to develop a new greenfield facility in Andhra Pradesh.

Canara Bank board of the bank decided to raise additional equity capital amounting to Rs90cr through QIP route by issuing Rs9cr equity shares of face value Rs10.

Essar Oilfields commenced drilling contract with Mercator Petroleum.

Ortel Communication will transfer its broadband business to its new subsidiary Ortel Broadband Ltd.

Dr.Reddy’s has launched Melphalan Hydrochloride for Injection, a therapeutic equivalent generic version of Alkeran (melphalan hydrochloride) for Injection used in the treatment of certain types of cancer and approved in the US market by the USFDA, as per media reports.

Jindal Steel completed 250 tonne basic oxygen furnace at its Odisha plant.

Srikalahasthi Pipes QIP closed with the issue price fixed at Rs360.5.

Punjab & Sind Bank board of directors has approved raising of equity capital through public issue/ right issue/ QIPs/ preferential issue or any other mode or a combination(s) thereof in one or more tranches up to March 31, 2019.

Prestige Estates will acquire 66.6% in Prestige Projects for Rs324cr.

Yes Bank acquired 5.62% in One Point One Solution as an anchor investor.

Sushmita Kacholia sold 1.28 lakh shares or 0.8% stake at Rs75.53 each of Lokesh Machines.

Asia Investment Corp Mauritius bought 3.74 lakh shares or 1.7% stake at Rs300 each of Vishal Fabrics.

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D-Street shines on exit poll predictions; Nifty above 10350 mark

Benchmark indices extended gains for the second day after exit polls released late on Thursday indicated that Bharatiya Janata Party is expected to win Gujarat and Himachal Pradesh assembly elections.

At 9:48 AM, the BSE Sensex was trading at 33,595, up 348 points, while the Nifty50 index was ruling at 10,362, up 111 points

In broader markets, both BSE Midcap and BSE Smallcap indices gained 1% each

Shares of GMR Infrastructure rose 2.4% after the company said that a consortium led by GMR Group has emerged as a preferred bidder for a project to develop the Clark International Airport in The Philippines.

All sectoral indices on the NSE were in the green led by Nifty Metal, Nifty Infrastructure index that rose 1.2-1.6%.

Vedanta (+3.3%), HDFC Bank (+2.6%), Yes Bank (+2.1%), Hindalco (+2%) and GAIL (+1.9%) were the top gainers on the Nifty50.

Tech Mahindra (-0.84%), UltraTech (-0.19%), Wipro (-0.14%), Power Grid (-0.02%) and TCS (-0.01%) were the top losers in today’s trade.

India VIX fell 13.48%.

Out of 1,977 stocks traded on the NSE, 1,335 advanced, 241 declined and 401 remained unchanged today.

A total of 25 stocks registered a fresh 52-week high in trade today, while 12 stocks touched a new 52-week low on the NSE.

Meanwhile, the Indian rupee scaled a fresh 3-month high of 64.12 against the dollar in early trade on Friday. The currency opened 19 paise up at 64.15 against the dollar on Friday.

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Nifty slips below 10,300 ahead of Nov WPI data

Benchmark indices opened on a negative note tracking weak cues from other Asian equities and on account of investors booking profits ahead of the release of key economic data later today.

Banking stocks were trading down led by losses in Bank of Baroda, ICICI Bank and State Bank of India. 

At 9:51 AM, the Nifty50 Index was down 27 points or 0.26% at 10,295 points, and the BSE Sensex was at 33,383, down 0.22%.

Shares of Dr.Reddy's Laboratories jumped 4.1% after the US Food and Drug Administration cleared the company's unit-3 in Hyderabad.

Shares of Oil & Natural Gas Corp rose 1.2% after the global crude oil prices hit their highest level since 2015 overnight.

The broader markets were also trading on a subdued note with the BSE MidCap Index and S&P BSE SmallCap Index edging marginally lower.

On the sectoral front, Metal, Pharma, Media and Auto were the top gainers, while Pvt Banking, FMCG, PSU Bank, and Realty Index were the top losers on the NSE.

Dr.Reddy’s (+4%), Vedanta (+2.7%), GAIL (+2.3%),Hindalco (+1.9%) and ONGC (+1.87%) were the top gainers on the Nifty50.

HPCL (-2.3%), Asian Paints (-1.94%), BPCL (-1.9%), IOC (-1.8%), Eicher (-1.6%) were the top losers in today’s trade.

India VIX gained 1.78%.

Out of 1,974 stocks traded on the NSE, 716 advanced, 839 declined and 419 remained unchanged today.

A total of 52 stocks registered a fresh 52-week high in trade today, while nine stocks touched a new 52-week low on the NSE.

Meanwhile, the Indian rupee opened higher at 64.41 per dollar against yesterday's close of 64.46.
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Nifty reclaims 10,100 mark; Metal, PSU Bank Indices lead

Domestic benchmark indices opened higher today led by gains in shares of banks, energy and automobiles company, and on positive cues from Asian markets.

At 10 AM, the Sensex jumped 181 points or 0.65% at 32,778 while the NSE Nifty gained 58 points or 0.55% to 10,102.

The BSE Midcap index and BSE Smallcap index was up by 0.8%. Both these indices outperformed the Sensex.

All sectoral indices on the NSE were trading in the green.

GAIL (+2.7%), Tech Mahindra (+2.1%), Bosch (+2%), Aurobindo Pharma (+1.8%) and Tata Steel (+1.4%) were the top gainers on Nifty50.

HCL Tech (-0.3%), Sun Pharma (-0.1%), Wipro (-0.04%), TCS (-0.03%) and HDFC Bank (-0.01%) were the top losers in today’s trade.

India VIX dropped 1.64%.

Out of 1,975 stocks traded on the NSE, 1294 advanced, 316 declined and 410 remained unchanged today.

A total of 25 stocks registered a fresh 52-week high in trade today, while 13 stocks touched a new 52-week low on the NSE.

IDBI Bank was up 1.28%. The bank said that its board of directors has approved the d sale of 27.99 lakh equity shares of National Securities Depository (NSDL), constituting 7% of its total paid up equity capital, held by IDBI Bank.

Hatsun Agro Product was up 2.28%. The company said that the board of directors of the company has considered and approved raising funds for the company by way of issue of securities to the existing equity shareholders of the company on a rights basis aggregating up to Rs900cr.

IRB Infrastructure Developers fell 4% today as the Central Bureau of Investigation has filed a charge sheet with a Pune court against its arm for alleged illegal purchase of government land.

Asian shares hovered near two-month lows as softer oil and copper prices and uncertainty over US policy kept many investors on the sidelines, even as some high-tech bellwethers bounced back after a searing sell-off.

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Market opens in red, Nifty slips below 10,100; RCom down 5%

The benchmark equity indices Sensex and Nifty opened on a negative note on Tuesday ahead of the kickstart of two-day RBI policy review. 

At 9.25 am, the 30-share Sensex was trading 58.87 points, or 0.18 per cent, lower at 32,810. The index was up over 150 points in the morning trade. The NSE barometer Nifty50 index was trading 15.50 points, or 0.15 per cent, lower at 10,112.25 around the same time. 

Investor sentiment was weak after Fitch Ratings pared India’s growth forecast for this financial year to 6.7 per cent from 6.9 per cent estimated earlier citing lower-than-expected recovery in the second quarter. For 2018-19, the credit rating agency has cut the forecast to 7.3 per cent from 7.4 per cent. 

Meanwhile, brokerages were largely expecting a status quo on the policy rate. 

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