Share market Highlights: Sensex closes above 37,000, Nifty at 2019 high; Bharti Airtel, Eicher Motors jump up to 8%

By: | Updated:Mar 11, 2019 4:18 pm

Share market Highlights: The Sensex surged past the 37,000-mark, and closed 383 points higher at 37,054.10, while Nifty closed at 11,171.05, its highest in 2019. Bharti Airtel shares closed 8.5% higher at Rs 334.95.

Share market Highlights: Jet Airways share price jumped by more than 4.6% to hit Rs 254.50 on BSE, ahead of  Etihad’s board meet to discuss Jet’s revival plan.

Share market Highlights: The stock markets extended gains in the late afternoon trade on Monday as investor sentiment remained upbeat following announcement of Lok Sabha poll dates. The Sensex surged past the 37,000-mark, and closed 383 points higher at 37,054.10, while Nifty closed at 11,171.05, its highest in 2019. Bharti Airtel shares closed 8.5% higher at Rs 334.95, while Eicher Motors shares ended 5% higher at Rs 22,890 on NSE, to emerge among the biggest Nifty gainers.

Among the various factors that will drive investor sentiment is the fact that India has outperformed it’s global peers. Further, The much awaited dates for Lok Sabha polls have been announced. Asian shares pulled back on Monday after US employment data raised doubts about the strength of the global economy while investor jitters ahead of crucial Brexit votes in the UK parliament this week weighed on the pound. MSCI’s broadest index of Asia-Pacific shares outside Japan was little changed from Friday’s three-week low. Japan’s Nikkei gained 0.4 per cent in early trade after four consecutive sessions in the red last week, Reuters reported.  We bring to you LIVE updates.

Live Blog

Share Market Highlights: Sensex, Nifty, Indian Rupee vs US Dollar, Latest Stock Market News, NSE, BSE

15:40 (IST)11 Mar 2019
BSE live: Sensex closes above 37,000, Nifty at 2019 high; Bharti Airtel, Eicher Motors jump up to 8%

The stock markets extended gains in the late afternoon trade on Monday as investor sentiment remained upbeat following announcement of Lok Sabha poll dates. The Sensex surged past the 37,000-mark, and closed 383 points higher at 37,054.10, while Nifty closed at 11,171.05, its highest in 2019. Bharti Airtel shares closed 8.5% higher at Rs 334.95, while Eicher Motors shares ended 5% higher at Rs 22,890 on NSE, to emerge among the biggest Nifty gainers. A look at LIVE Sensex heatmap.

15:10 (IST)11 Mar 2019
BSE live: Sensex surges past 37,000, Nifty holds gains; Bharti Airtel, Eicher Motors gain up to 7%

The stock markets extended gains in the late afternoon trade on Monday as investor sentiment remained upbeat following announcement of Lok Sabha poll dates. The Sensex reclaimed the crucial 37,000-mark after and the Nifty surged to a fresh high of 11,149.55 in 2019. The Sensex is up 400 points to 37,071.61, while the Nifty is trading above 11,150-mark. Bharti Airtel shares are trading 7.5% higher on BSE at Rs  332, while Eicher Motors shares gained by nearly 5% to Rs 22,890. 

14:53 (IST)11 Mar 2019
Good news! Hirings up 16%; these industries offering most jobs

While unemployment is one issue that the current government has been facing for long with the unemployment rate in India having risen to 7.2 per cent in February 2019 from 5.9 per cent in February 2018, (per data by Centre of Monitoring Indian Economy), a recent report suggests that there has, in fact, been a 16% jump in hiring this February compared to February 2018. The IT software industry has been the champion with it mopping up 38% of growth, a NaukriSpeak report said.

Also read: Good news! Hirings up 16%; these industries offering most jobs

13:35 (IST)11 Mar 2019
Sensex reclaims 37,000, Nifty at 2019 high; three key factors behind stock market rally

Even as the Sensex reclaimed the crucial 37,000-mark after more than a month, and Nifty surged to fresh 2019 high at 11,149.55 points, a day after election commission announced Lok Sabha election dates, stock market experts point out that investor sentiment remained positive as uncertainty eases. Currently, the Sensex is trading at 36,968.23 and Nifty is nearing the 11,150 mark.

Overcoming uncertainty- After the election commission announced Lok Sabha election dates, investment advisor Sandip Sabharwal noted that the  markets tend to climb the wall of worry.

Read full story here:  Sensex reclaims 37,000, Nifty at 2019 high; three key factors behind stock market rally

12:52 (IST)11 Mar 2019
Jet Airways shares jump 5% after report of loan from PNB; ahead of Etihad board meet

Shares of India’s major private sector airline Jet Airways jumped on Monday morning, after media reports said that the firm has received a fresh loan amounting to Rs 2,050 crore from Punjab National Bank. Jet Airways shares gained as much as 4.6% to hit the day’s high at Rs 254.50 on BSE this morning. Jet Airways has raised foreign currency term loans worth ₹1,100 crore and a non-fund based credit facility of ₹950 crore from PNB, Livemint reported citing loan documents. Notably, at the Etihad board meeting scheduled today, the airline is likely to discuss Jet AIrways revival plan, CNBC TV18 reported. Etihad will consider fund infusion into Jet under bank-led provisional resolution plan and the final decision will be taken later today, reported the channel.

Also read: Jet Airways shares jump 5% after report of loan from PNB; ahead of Etihad board meet

11:22 (IST)11 Mar 2019
BSE live: Sensex nears 37,000, Nifty holds gains

After opening higher on Monday, the stock markets– Sensex and Nifty are extending gains in the late morning trade. The Sensex is up 295 points to 36,965.71, while the Nifty is nearing the 11,150-mark. Shares of SBI are trading 2.3% higher at Rs 287.65, while Bharti Airtel shares gained more than 2.2% to Rs 315.55. Jet Airways shares price gained more than 4% to Rs 254.50 in the morning trade on BSE.

10:41 (IST)11 Mar 2019
Global update: Donald Trump ready to meet North Korean leader Kim Jong Un again, says White House

US President Donald Trump is ready to meet North Korean leader Kim Jong-un again for denuclearisation talks, the White House said, underlining that his decision to walk out of the Hanoi summit sent a signal to other countries as well that he is not desperate for a deal unless it is in America’s interest. US National Security Advisor John Bolton told ABC News that Trump’s walk out from his meeting with Kim was “friendly” and it is not a reflection that the talks broke down. “I don’t really think it broke down. I think the president did exactly the right thing,” he said, referring to the failed summit between the two leaders in Hanoi in Vietnam on February 26 and 27.

Also read: Donald Trump ready to meet North Korean leader Kim Jong Un again, says White House

10:09 (IST)11 Mar 2019
Ethiopian Airlines crash kills 157, spreads global grief

An Ethiopian Airlines jet has faltered and crashed shortly after takeoff, carving a gash in the earth and spreading global grief to 35 countries that had someone among the 157 people who were killed. There was no immediate indication why the plane went down in clear weather while on a flight to Nairobi, the capital of neighbouring Kenya. The crash was strikingly similar to that of a Lion Air jet in Indonesian seas last year, killing 189 people. 

Read full story here: Ethiopian Airlines crash kills 157, spreads global grief

09:59 (IST)11 Mar 2019
Rupee appreciates 15 paise against US dollar

The rupee appreciated 15 paise to 69.99 against the US dollar Monday on weakening greenback, fresh foreign inflows and higher opening of domestic equities. In its previous session Friday, the rupee edged 14 paise lower to close at 70.14. On a weekly basis, however, the domestic currency logged 78 paise gains. The US dollar depreciated against most Asian currencies after Federal Reserve Chairman Jerome Powell said the central bank was in no hurry to change interest rates, forex traders said adding that fresh foreign fund inflows and positive sentiment on Dalal Street also buoyed the local unit.

Also read: Rupee appreciates 15 paise against US dollar

09:53 (IST)11 Mar 2019
DLF, IDBI, SBI in focus today; here's why

DLF: Realty major DLF plans to raise Rs 3,000 crore via issue of equity shares to qualified institutional investors by June-19. The funds raised through QIP would help the company in paring its debt which stood at Rs 7,200 crore as on December, 2018.

IDBI Bank: The bank said Sunday that it is considering to appoint current MD and CEO for another term of three years . The bank is already in the process of appointing two new deputy managing directors.

State Bank of India: India’s largest lender SBI last week announced its decision to link its large savings deposits and short-term loans to the repo rate.

09:30 (IST)11 Mar 2019
BSE live: Sensex up 250 points, Nifty above 11,100; Jet Airways, SBI shares jump

The stock markets-- Sensex and Nifty-- opened mildly higher on Monday, tracking mixed global cues. The Sensex is up 220 points to 36,891.85, while the Nifty is trading above the 11,100-mark. Jet Airways share price jumped by more than 4.6% to hit Rs 254.50 on BSE, ahead of  Etihad's board meet to discuss Jet's revival plan. Shares of state-run SBI jumped by more than 1.4% to Rs 285.30 on BSE, after the bank moved rates to repo linked first time in India. A look at LIVE Sensex heatmap.

09:16 (IST)11 Mar 2019
Why Reserve Bank of India should cut CRR levels

India’s investment cycle has been in a trough for several years now. And it could take at least a couple of years more for it to crawl out of that trough. Apart from the fact that capacities in most sectors seem sufficient for some time, there is a shortage of equity capital and a good many companies remain over-leveraged. But even if these factors improve, real interest rates in the economy are high.

Also read: Why Reserve Bank of India should cut CRR levels

09:15 (IST)11 Mar 2019
Stock Call: ‘Add’ Tata Global Beverages shares, target price Rs 220; cost hits earning

TGBL reported a consolidated Ebitda decline of 17% y-o-y for Q3FY19. Cost push, both commodity and overheads in the standalone India business, and higher A&P in the international businesses, took the sheen off the fairly healthy topline performance (+11% y-o-y, partly aided by INR depreciation). We bake in the cost pressure into our model and cut FY19-21e EPS estimates by 3.4-4.5%. SoTP fair value stands revised to Rs 220 (from Rs 240). Add stays.

Also read: Stock Call: ‘Add’ Tata Global Beverages shares, target price Rs 220; cost hits earning

09:13 (IST)11 Mar 2019
Why PSU stocks plummet after share buyback — Explained

By definition, buyback of its own shares by a firm shrinks its equity base and enhances the value of each share. However, this hasn’t been the case in any of the series of buybacks by PSUs since FY17. On the contrary, the stocks of all the PSUs which have bought back chunks of their shares have fallen since the exercises were completed. An FE analysis of 10 of these firms which have undertaken the share buyback exercise once or more show their stocks losing value by as much as 17-54% (a few others too, undertook buybacks but the stocks split thereafter).

Also read: Why PSU stocks plummet after share buyback — Explained

09:12 (IST)11 Mar 2019
IndiGo, Jet Airways airfares surge as 200 flights cancelled; Rs 20,000 for Delhi-Mumbai ticket

With two major carriers — IndiGo and Jet Airways — cancelling around 200 flights daily, spot fares (those booked 7-15 days before the date of travel) are increasing compared with the prices in January when the flight schedules were more or less normal. On key metro routes like the Delhi-Mumbai, spot fares have risen by up to 20% since January this year. Fliers booking tickets within seven days of travel have to shell out over Rs 20,000 for a to-and-fro journey between Delhi and Mumbai, which is higher by around 20% compared with spot fares in January, according to data provided by Yatra.com.

Also read: IndiGo, Jet Airways airfares surge as 200 flights cancelled; Rs 20,000 for Delhi-Mumbai ticket

09:03 (IST)11 Mar 2019
Essar Steel, Binani insolvency resolutions get official clean chit; top body says no contradiction

The Insolvency and Bankruptcy Board of India (IBBI) has said that it did not find any contradiction in approvals of resolution for Essar Steel and Binani Cement in the context of “value maximisation”. The Ahmedabad bench of National Company Law Tribunal (NLCT) has approved the ArcelorMittal’s Rs 42,000 crore resolution plan, rejecting the Ruias settlement offer of Rs 54,389 crore.

Also read: Essar Steel, Binani insolvency resolutions get official clean chit; top body says no contradiction

09:02 (IST)11 Mar 2019
Mutual Fund schemes: Why long-term investors are on the decline

Fewer retail investors in equity schemes of mutual funds now have the patience to stay invested for long periods. While four years ago, in December 2014, as much as 60% of retail equity AUM (assets under management) stayed invested for more than two years, this share had fallen to just 41% in December 2018. The data have been gathered by Association of Mutual Funds in India (Amfi). One reason for this could be the poor performance of equity schemes. A study by ValueResearch revealed that of 364 equity schemes, 67% had given a negative return in the past one year. Of this, 78 equity schemes have given a negative return of more than 10%. In fact, inflows into pure equity schemes slipped to their lowest levels in 25 months in February.

Also read: Mutual Fund schemes: Why long-term investors are on the decline

09:01 (IST)11 Mar 2019
Asian shares decline as US jobs data clouds global outlook

Asian shares pulled back on Monday after U.S. employment data raised doubts about the strength of the global economy while investor jitters ahead of crucial Brexit votes in the UK parliament this week weighed on the pound. MSCI’s broadest index of Asia-Pacific shares outside Japan was little changed from Friday’s three-week low. Japan’s Nikkei gained 0.4 percent in early trade after four consecutive sessions in the red last week. Wall Street’s main indexes posted their biggest weekly decline since the market tumbled at the end of 2018 last week, falling for the fifth consecutive day on Friday on the shocking payrolls data.

Also read: Asian shares decline as US jobs data clouds global outlook

08:39 (IST)11 Mar 2019
Gold inches lower as firm dollar offsets falling equities

Gold inched down on Monday, after rising about 1 percent in the previous session, as a firm dollar offset support from fading appetite for riskier assets due to mounting global growth concerns. As of 0115 GMT, spot gold was down 0.1 percent at $1,296.73 per ounce, after briefly breaching the $1,300 ceiling in the previous session.  U.S. gold futures were also down 0.1 percent at $1,298.10 an ounce.

Also read: Gold inches lower as firm dollar offsets falling equities

08:38 (IST)11 Mar 2019
Dollar firms, sterling falls again on Brexit worries

The dollar edged up early on Monday, hovering close to a near three-month high as investors took cover in the currency amid global growth concerns, while sterling extended its decline on an uncertain outlook over Britain’s exit from the European Union. The dollar index, which measures the greenback against a basket of six major rivals, gained 0.1 percent to 97.426 in early Asian trading. The index was just shy of its recent peak of 97.710 hit last Thursday, its highest since Dec. 14 last year. It is up 1.3 percent so far this year.

Also read: Dollar firms, sterling falls again on Brexit worries

08:37 (IST)11 Mar 2019
Oil rises as OPEC’s output cuts set to continue, US drilling activity slumps

Oil prices edged up on Monday after Saudi oil minister Khalid al-Falih said an end to OPEC-led supply cuts was unlikely before June, while a report showed U.S. drilling activity fell for a third straight week. The news took downward pressure from oil markets that had built the previous week on the back of surging U.S. crude output and an economic slowdown especially in Asia and Europe. U.S. West Texas Intermediate (WTI) crude oil futures were at $56.26 per barrel at 0016 GMT, down 19 cents, or 0.3 percent, from their last settlement.

Also read: Oil rises as OPEC’s output cuts set to continue, US drilling activity slumps

08:36 (IST)11 Mar 2019
Aussie stocks open lower as global growth concerns weigh, NZ down

Australian shares fell on weaker mining and financial stocks on Monday after economic data from the United States and China signalled a further cooling in the global economy. The S&P/ASX 200 index fell 0.4 percent or 27.3 points to 6,176.5 by 0044 GMT. The benchmark fell 0.6 percent on Friday. Global stocks retreated on Friday after a disappointing U.S. payrolls report coupled with weak trade data from China revived concerns that the world economy was slackening. The European Central Bank’s surprising dovish hand further fuelled growth concerns.

Read full story here: Aussie stocks open lower as global growth concerns weigh, NZ down

Share market on Friday: The stock markets–Sensex and Nifty– closed lower on Friday. The Sensex ended 54 points down to 36,671.43, while the Nifty closed below the 11,050-mark. Tata Motors shares lost more than 4.3% to end the session at Rs 181, while HCL Tech shares closed 2.4% down at Rs 1,009.45. Asian stocks were headed for harm on Friday after the European Central Bank slashed its growth forecasts and launched an emergency round of policy stimulus, leaving investors fearing the worst for the global economy.
Switch to Hindi Edition