Share market HIGHLIGHTS: Sensex slides 184 points; Nifty ends below 12,050 mark; Yes Bank gains around 3%

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Updated:Jun 04, 2019 3:49:48 pm

The Indian headline indices- Sensex and Nifty ended lower on Tuesday ahead of RBI monetary policy meet on June 6. While Sensex fell 184 points, Nifty ended at 12,021 level. Yesterday, both Sensex, Nifty had hit a record high.

Share Market Live, Stock Market Live, Nifty Live, NSE live, BSE live, Live Market Update, Market Today, Indian Share Market Live, Indian Stock Market Live, स्टॉक मार्केट, शेयर बाजारSensex, Nifty to open flat tracking mixed Asian cues

The Indian headline indices- Sensex and Nifty ended lower on Tuesday as investors booked profit after the Sensex, Nifty hit record highs on Monday. While Sensex settled 184 points lower than the previous close at 40,083.54, Nifty ended at a level of 12,021.65, down 65 points from the last close. The benchmark indices hit a record high on Monday ahead of Reserve Bank of India meet on June 6. On BSE, among the top gainers are Yes Bank, NTPC, Axis Bank and Bajaj Finance, while the top losers are Hero MotoCorp, TCS, Asian Paints and Bajaj Auto. 

ICICI Bank and Axis Bank shares fell on Tuesday after the rating firm Fitch downgraded both the banks on account of the weak financial health of private sector banks. On BSE, while Axis Bank shares turned green, ICICI Bank shares ended in red at Rs 481.95 per share, 0.92 per cent lower than the previous close. Shares of Axis Bank ended at Rs 821.40 per share, 1.12 per cent higher from the last close.

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    Economist view on expectations from RBI Policy

    Our analysis suggests that the current liquidity concerns in the economy can be broadly attributed to the structural factors, which we together call the three 3Ds - namely, high 'deficit' of the public sector, low 'deposit' growth and high 'demand' for credit. These factors will intensify the competition for deposits and make it difficult for banks to cut deposit rates due to the fear of losing liabilities. This will, thus, limit the monetary transmission. It also proposes that significant monetary easing (short-term relief) without a clear restructuring of the financial system (long-term strategy) could actually aggravate the current imbalances by boosting consumption/investments and discouraging savers.  

    Considering the intense pressure and the absence of fiscal space, the monetary authority may decide to provide short term relief, but it also must ensure the natural economic tendencies address the excesses created in the economy. Then, the process will lead to controlled pain in the short-term, but will set the stage for sustained long-term growth. Productive and efficient use of resources, self-discipline and ability to eliminate excesses are the most important virtues that will determine the future of an economy over a longer period of time, according to Nikhil Gupta, Chief Economist, Motilal Oswal Financial Services.

    14:46 (IST)04 Jun 2019
    FIIs in india, here's what expert says

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    13:57 (IST)04 Jun 2019
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    Read more: What SEBI show cause notices to HDFC MF, Kotak MF mean for FMP investors in Essel securities

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    IOC, BPCL, HPCL to form JV

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    12:07 (IST)04 Jun 2019
    HPCL, IOC shares tumble about 1 per cent on Tuesday

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    11:49 (IST)04 Jun 2019
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    Trump trade talks with UK

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    11:11 (IST)04 Jun 2019
    PSU banks trade higher on Tuesday

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    Infosys begins to review contracts with sanctions-hit Huawei

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    10:00 (IST)04 Jun 2019
    BSE Heatmap

    09:49 (IST)04 Jun 2019
    US-Mexico trade war

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    09:09 (IST)04 Jun 2019
    Markets hit all time high on Monday; here's what brokerage says

    Naveen Kulkarni, Head of Research, Reliance Securities:

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    09:06 (IST)04 Jun 2019
    Rupee opens stronger on Tuesday against previous close

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    09:02 (IST)04 Jun 2019
    Crude oil prices fall on global slowdown concerns

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