Share market HIGHLIGHTS: Sensex ends 300 points down, Nifty near 10,650; ICICI Bank, RIL among top drags

By: |
Updated:Nov 20, 2018 4:58:25 pm

Share market HIGHLIGHTS: The 30-share Sensex cracked over 300 points to end the day's trade at 35,474.51, while the Nifty 50 tested the 10,650-mark. PSU banks, metals and IT stocks emerged as the major losers in the headline indices.

Share market HIGHLIGHTS: IndusInd Bank shares gained about 1.8% to Rs 1,567.25 on BSE.

Share market HIGHLIGHTS: Sensex and Nifty ended Tuesday’s trade lower as weak global cues, RBI decisions weigh. The 30-share Sensex cracked over 300 points to end the day’s trade at 35,474.51, while the Nifty 50 tested the 10,650-mark. PSU banks, metals and IT stocks emerged as the major losers in the headline indices. IndusInd Bank shares gained about 1.8% to Rs 1,567.25 on BSE.

The BSE Sensex snapped a three-day winning streak and fell over 300 points on heavy selling by market participants, in step with a global selloff despite strengthening rupee and easing crude prices. Besides, profit-booking in recent gainers too fuelled the downward trend.  According to dealers, the outcome of the Reserve Bank board’s meet also failed to impress investors, PTI reported.

Asian stock markets skidded on Tuesday, extending sharp losses on Wall Street as technology firms bore the brunt of worries about slackening demand, while the dollar sagged after weak U.S. data further sapped confidence in the currency. U.S. stocks dropped and the Nasdaq fell 3 percent on Monday as investors dumped Apple, internet and other technology shares, further shaking confidence in a group of stocks that has propelled the long bull market, Reuters reported. We bring to you key highlights from today’s trade.

Read More

Live Blog

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

Highlights

    16:58 (IST)20 Nov 2018
    Expert take: Abhijeet Dey of BNP Paribas Mutual Fund says Global and domestic uncertainty kept the bulls at bay

    "Stock markets in India opened the day on a negative note tracking lower Asian stocks. Stocks hovered in negative zone in the morning and mid-morning trade. Key indices cut losses in early afternoon trade. Fresh selling in Index pivotal subsequently dragged the markets to lower levels to finally close the day with losses of over 1%. Overseas, European stocks declined as investors keep abreast of market news and awaited any further developments surrounding Brexit. Asian stocks declined on pessimism about escalating trade tensions. At home, on the political front, the second phase of assembly elections with 72 seats is being held in Chhattisgarh today, 20 November 2018. Chhattisgarh held its first phase of polls on 12 November 2018 when 18 seats were contested. Global and domestic uncertainty kept the bulls at bay and injected a note of caution into the markets," Abhijeet Dey, Senior Fund Manager-Equities told FE Online.

    16:56 (IST)20 Nov 2018
    Sunil Mittal readying warchest: Bharti Airtel to borrow $2 billion amid rating downgrade threat

    Moody’s Investors Service on Nov 8 put Bharti’s Baa3 rating, its lowest investment-grade evaluation, on review for downgrade citing low levels of profitability and higher debt levels to fund capital spending. Bharti Airtel Ltd. is raising more than $2 billion in loans from banks, as India’s second-biggest wireless carrier faces increased competition at home and the threat of a ratings downgrade to junk.

    Also read: Sunil Mittal readying warchest: Bharti Airtel to borrow $2 billion amid rating downgrade threat

    16:53 (IST)20 Nov 2018
    These mid-cap stocks could double your money; Motilal Oswal picks 10 stocks trading at huge discount

    After the recent correction in October, the benchmark Sensex is down nearly 9% from its August record high. The mid-cap index has, however, underperformed the headline index and is down 18% since its January record high level. Even as the mid-cap index continues to deliver negative returns year-to-date, a recent report has picked 10 mid-cap stocks which, despite a steep correction of up to 40% from their 52-week highs, can nearly double your money — delivering returns of up to 92%.

    Also read: These mid-cap stocks could double your money; Motilal Oswal picks 10 stocks trading at huge discount

    16:36 (IST)20 Nov 2018
    Bitcoin price falls below $4,500 for first time in 13 months; loses 30% in a week

    Bitcoin price fell below $4,500 for the first time since October last year on sell-off in the digital currency. The famous virtual currency plunged over 7.5 percent on Tuesday to below $4,500, losing 30 percent in a week. The digital currency is now trading at $4,354.20 on the Bitstamp exchange. Other major cryptocurrencies such as Ethereum dropped 15.2 percent and Bitcoin fell 13.1 percent. Ripple XRP had plunged 4.5 percent in the past 24 hours.

    Also read: Bitcoin price falls below $4,500 for first time in 13 months; loses 30% in a week

    16:24 (IST)20 Nov 2018
    India’s biggest masala bond issuer HDFC raises Rs 500 crore in offshore rupee bonds

    India’s largest mortgage lender Housing Development Finance Corp (HDFC) has raised Rs 500 crore through the sale of rupee-denominated ‘masala bonds’ under its MTN (medium term note) program. The masala bond issue by the country’s biggest issuer of offshore rupee bonds came following a recent announcement by the government on easing taxation on overseas borrowings.

    Also read: India’s biggest masala bond issuer HDFC raises Rs 500 crore in offshore rupee bonds

    16:01 (IST)20 Nov 2018
    Air India revives plans to raise Rs 500 crore; to mop up Rs 6,100 crore from aircraft sale and lease back

    Debt-ridden Air India has revived its plans to raise Rs 500 crore in short-term loans (STLs) besides mopping up another Rs 6,100 crore by way of sale and lease back of seven of its wide-body planes, including six Boeing 787 (Dreamliner) aircraft, an airline official told PTI. In early September, the airline had invited bids for raising Rs 500 crore through STL to meet its working capital requirements with September 10 as the deadline for submission of bids. However, the deadline was extended to October 31 after it failed to get any response.

    15:46 (IST)20 Nov 2018
    Upcoming IPO: Zircon Tech gets Sebi's go ahead for IPO; total clearance reaches 70 in 2018

    Zircon Technologies, engaged in the business of label printing for packaging of products, has received markets regulator Sebi's go ahead to float an initial public offering. With this, the total number of companies getting clearance from the Securities and Exchange Board of India (Sebi) to launch IPO has reached 70 so far this year. Zircon Technologies (India), which had filed draft papers with Sebi in September, obtained the regulator's observations on November 12, latest update with the markets watchdog showed.

    15:34 (IST)20 Nov 2018
    Sensex ends 300 points down, Yes Bank sheds 6%

    The domestic stock market ended lower on Tuesday as global cues and RBI's baord meet decisions weigh. The 30-share Sensex lost 300.37 points lower to 35,474.51. The Nifty ended the day's trade at 10,656, down by 107.2 points.

    15:09 (IST)20 Nov 2018
    Reliance MF launches CPSE ETF 4th tranche; 4.5% discount on offer

    Anil Ambani-led Reliance Mutual Fund (RMF) has announced Further Fund Offer 3 (FFO3) of its Central Public Sector Enterprises – Exchange Traded Fund (CPSE ETF) under the Narendra Modi-led government’s larger disinvestment drive. This latest fund offer is part of the government’s overall disinvestment program using the ETF route. Reliance Mutual Fund looks to raise upto Rs 8,000 crore (US$ 1.12 Billion) in FFO3 as “Initial Amount” plus an “Additional Amount” (if any) based on instructions of the government.

    Also read: Reliance MF launches CPSE ETF 4th tranche; key things about Rs 8,000 crore disinvestment offer

    15:01 (IST)20 Nov 2018
    Yes Bank issues fresh press release to exchanges on resignation of board member

    Yes Bank issued a fresh press release to the stock exchanges on the resignation of board member during the late-afternoon trade deals today. In a regulatory filing to the BSE, the bank announced that Rentala Chandrashekhar, Independent Director has tendered his resignation from the Bank's Board, with immediate effect. However, the words 'for personal reasons' were removed from the fresh statement as was mentioned in the earlier release. "The Nomination & Remuneration Committee ('N&RC') of the Bank will look for a suitable replacement in the field of Information Technology and Cyber Security in terms of applicable provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Companies Act, 2013 and Banking Regulation Act, 1949," the fresh statement said. Yes Bank currently traded 6.24% lower at Rs 192.25 per share on the BSE.

    14:48 (IST)20 Nov 2018
    BSE live! Sensex down 1%, only 2 out of 30 stocks in green

    The BSE Sensex cracked over 350 points to an intra-day low of 35,416.18 points during the late-afternoon trade deals led by heavy selling pressure in blue-chips. Only 2 out of the 30 Sensex stocks traded in the green.

    14:22 (IST)20 Nov 2018
    DHFL share price plunges 5% ahead of Q2 results tomorrow

    Shares of NBFC fiem DHFL plunged on Tuesday afternoon, ahead of the firm's Q2 results scheduled to be released tomorrow. DHFL share price plunged by nealry 5% to hit the day's low at Rs 220. The firm, which trggered off a major correction in the NBFC space given liquidity fears,  has made early redemption of immediately maturing secured redeemable non-convertible debentures (NCDs) issued by way of private placement and made the payment of Rs 729 crore.

    13:09 (IST)20 Nov 2018
    BSE Live: Sensex sheds 150 points, Nifty below 10,700; Yes Bank, Tata Steel under pressure

    The 30-share Sensex is trading lower this afternoon, down about 140 points, on the back of losses in the IT and metal stocks. The Sensex is currenlty trading at 35,621.82 down 162 points from yesterday's close. Yes Bank, Tata Steel are among the shares under pressure. We take a look at the heat map.

    13:09 (IST)20 Nov 2018
    BSE Live: Sensex sheds 150 points, Nifty below 10,700; Yes Bank, Tata Steel under pressure

    The 30-share Sensex is trading lower this afternoon, down about 140 points, on the back of losses in the IT and metal stocks. The Sensex is currenlty trading at 35,621.82 down 162 points from yesterday's close. Yes Bank, Tata Steel are among the shares under pressure. We take a look at the heat map.

    12:38 (IST)20 Nov 2018
    IndusInd Bank share price zooms 2%

    Shares of India's major private sector lender IndusInd Bank gained on Tuesday to emerge as one of the biggest gainers on the Sensex. IndusInd Bank share price gained by more than 2% to hit intra-day high of Rs 1,569.90. Yesteday, IndusInd Bank launched the IndusInd Bank Nexxt Credit Card - the first interactive Credit Card in India with buttons - which provides customers with the flexibility of three payment options at a Point of Sale (POS) terminal - Credit, Converting Transactions into EMIs with 4 tenure options (6, 12, 18 & 24 months) or using accumulated Reward Points, by simply pushing a button on the card.

    12:26 (IST)20 Nov 2018
    Is RBI PCA same as ‘Hotel California’ for Indian banks? Sanjeev Sanyal says let them leave

    Principal economic advisor Sanjeev Sanyal Monday said the country cannot have ‘Hotel California’ approach towards banks under the prompt corrective action (PCA) framework, where the exit mechanism for these lenders is undefined. The Reserve Bank of India’s PCA framework, which intends to nurse financially weak banks back to health, restricts lending and expansion of lenders. Out of the 21 state-owned banks, 11 are under the PCA framework at present.

    Also read: Is RBI PCA same as ‘Hotel California’ for Indian banks? Sanjeev Sanyal says let them leave

    12:07 (IST)20 Nov 2018
    Stock market and RBI board meet: Shares fall as central bank’s steps seen as long term

    Indian shares fell on Tuesday in line with weakness in broader Asia and after the outcome of the central bank board’s meet to boost lending failed to impress investors, amid expectations the implementation of the proposed measures will take time, Reuters reported. In its first meeting since the extent of a deep rift between the central bank and the government became public, the Reserve Bank of India (RBI) said on Monday its board would support small businesses and give banks more time to step up capital norms. It has also decided to form an expert committee to look into whether RBI reserves are adequate.

    Also read: Stock market and RBI board meet: Shares fall as central bank’s steps seen as long term

    12:00 (IST)20 Nov 2018
    BSE Live: Sensex down 120 points, Yes Bank, Tata Steel shares tumble

    Sensex and Nifty extended losses in the late morning trade on Tuesday tracking weak global cues. After opening lower, the 30-share Sensex is down about 160 points to 35,623.63, while the Nifty 50 is nearing the psychological 10,700-mark. Shares of private sector lender Yes Bank emerged as the biggest loser in the Sensex this afternoon, followed by Tata Steel. A look at the heat map.

    11:39 (IST)20 Nov 2018
    Air India’s new plan to use its aircraft to raise $856 million; here’s how it will do it

    Cash-strapped Air India is planning to raise as much as $856 million through the sale and leaseback of seven of its Boeing aircraft over the next 15 days, as it looks to repay the short-term loans raised to fund the acquisition of widebody aircraft. The fund to be raised is also expected to help the airline to meet its immediate liquidity requirements.

    Also read: Air India’s new plan to use its aircraft to raise $856 million; here’s how it will do it

    11:28 (IST)20 Nov 2018
    Rupee rises to nearly 3-month high vs USD after RBI’s Rs 8,000 crore liquidity infusion plan

    The rupee gained 29 paise today to trade at a nearly three-month high level against the US dollar on foreign fund inflows, along with a weak US dollar and easing crude oil prices. According to forex traders, the rupee got a boost today after the Reserve Bank of India on Monday announced to buy bonds worth Rs 8,000 crore via open market operations (OMOs) to ease tight cash conditions. The rupee also strengthened after the RBI board meet outcome removed uncertainty over a growing rift over policy decisions between the government and the central bank.

    Also read: Rupee rises to nearly 3-month high vs USD after RBI’s Rs 8,000 crore liquidity infusion plan

    11:03 (IST)20 Nov 2018
    Shares of PSU banks fall after RBI board meet; here’s what global brokerages say

    Shares of public lenders fell nearly 1 percent, a day after 9-hour long RBI board meet. The Nifty PSU bank index plunged about 1.7 percent, in its biggest single-day percentage loss in a week. The shares of Bank of India and Union Bank of India are down 1.3 percent each while State Bank of India down 0.8 percent. Jefferies analysts believe outcomes were fairly logical “although by no means conclusive. “Additional capital infusion would be required should the government want the banks to push balance sheet growth, the global brokerage says. 

    Also read: Shares of PSU banks fall after RBI board meet; here’s what global brokerages say

    10:48 (IST)20 Nov 2018
    Yes Bank share price reel under pressure down 4% to Rs 195.90

    Yes Bank shares slipped over 6% in early morning trade today after the bank’s non-executive independent director R. Chandrashekhar stepped down from the board with immediate effect. Yes Bank share price dropped 6.5% to an intra-day low of Rs 191.60 per share on the National Stock Exchange in opening trade today. Over 7 million shares exchanged hands in the first few minutes of trade. “We would like to inform that Mr. Rentala Chandrashekhar, Non-Executive, Independent Director has tendered his resignation from the Board of Directors of Yes Bank on November 19, 2018 with immediate effect,” the private sector lender said in a regulatory filing late on Monday. This is the third resignation from Yes Bank’s board since last week. The bank cited personal reasons for Chandrashekhar’s resignation.

    Also read: Yes Bank share price slips over 6% after R. Chandrashekhar steps down as independent director

    10:34 (IST)20 Nov 2018
    Nifty Live: Nifty down 47 points to 10,715.80, a look at top 5 gainers and losers

    The Nifty 50 is down about 47 points to 10,715 currenlty. Eicher Motors, IndusInd Bank shares are among the top 5 Nifty gainers currenlty. Among the top Nifty losers, Yes Bank and Hindalco have lost up to 5%. A look at top 5 gainers and losers.

    10:18 (IST)20 Nov 2018
    BSE Live: Midcap Index recovers from day's lows buoyed by rally in Page Industries, DHFL

    The BSE Midcap Index recovered from day's lows on the back of a rally in the Page Industries, DHFL. Page Industries share price gained as much as 3.1% to hit the days high at 27,350. The BSE Midcap Index is currently trading at 15,036. A look at the BSE Midcap Index heat map. 

    10:11 (IST)20 Nov 2018
    Yes Bank share price off lows, recover 4%

    After dropping about 6.4% to Rs 191.60 on Tuesday morning, Yes Bank share price recovered more than 4% on Tuesday morning. Yes Bank share price gained to Rs 199.75. The bank has been in the news of late, after the firm witnessed three high profile resignation within a week. In a third resignation from the Yes Bank board, independent director R Chandrashekhar put in his papers, the private sector lender said in regulatory filing on Monday. Yesterday, Yes Bank soared as much as 7.6 percent to Rs 205.50, registering biggest intraday percentage gain since November 1, after ICRA retained its issuer ratings. The credit rating agency retained its overall long-term issuer ratings for the lender at AA+, with a rating ‘watch’ with developing negative implications, Yes Bank said in the exchange filing on Saturday.

    10:01 (IST)20 Nov 2018
    Jet Airways shares recover 4% from day's lows

    Shares of India'sd major private sector airline Jet Airways recovered from the day's lows in the morning trade. The shares had slumped 5.5% to intra-day low of Rs 304. The shares soon recovered about 4% to hit Rs 310. Yesterday, Jet Airways shares slumped 7 per cent Monday after Tata Sons said no concrete "proposal" had been made by the group so far for acquiring the beleaguered carrier. The stock slumped intra-day 6.88% to settle at Rs 323 on BSE.

    09:55 (IST)20 Nov 2018
    Brokerages take on RBI board meet: Fairly logical outcome

    The 9-hour long gruelling RBI board meeting ends with a fairly logical outcome, say brokerages. The 18-member RBI board decides to form an expert committee to look into Economic Capital Framework. And for MSMEs, RBI is advised to consider a scheme for loans up to Rs 25 crore. After an unprecedented power tussle over the last few weeks, government and RBI, in a 9-hour long board meeting on Monday, appeared to have reached a common ground on providing relief to MSMEs and easing lending restrictions on a few public sector banks.

    Also read:  FULL TEXT: RBI statement on board meeting; capital framework to be jointly decided by govt, central bank

    09:48 (IST)20 Nov 2018
    Rupee strengthens 29 paise to 71.38 against US dollar

    Continuing its rising spree for the sixth straight day, the rupee appreciated by another 29 paise to trade at nearly three-month high of 71.38 against the dollar in opening trade Tuesday on persistent foreign fund inflows. Besides, the dollar's weakness against some currencies overseas also supported the rupee.The domestic unit opened with strength at Rs 71.39 at the Interbank Foreign Exchange and advanced further to trade at 71.38 against the US dollar. This is the highest level since September 4.

    09:44 (IST)20 Nov 2018
    NSE Live: Oil stocks gain as crude falls, check top 5 gainers

    Oil majors GAIL, HPCL and BPCL gained on Tuesday morning, as global crude oil prices fell. The shares emerged among the top 5 gainers in the Nifty. GAIL share price gained more than 3.3% to hit the day's high at Rs 346. Hindustan Petroleum shares zoomed 3.3% to hit intra-day high of Rs 252. BPCL shares gained 2% to Rs 329.95 on NSE, while IOC shares gained more than 1.5% to Rs 144.9. We take a look at top 5 gainers in the Nifty pack.

    09:28 (IST)20 Nov 2018
    BSE Live: Sensex down 100 points, Nifty below 10,750

    Sensex and Nifty, the headline indices for the domestic stock markets opened lower on Tuesday tracking weak global cues. The 30-share Sensex slumped 131 points to 35,643 in the opening trade, while the broader Nifty 50 opened below the psychological 10,750-mark. A look at the heat map.

    09:27 (IST)20 Nov 2018
    Yes Bank share price slumps 5% after independent director R Chandrashekhar stepped down from the firm's board

    Yes Bank share price slumped by more than 5% in the morning trade on Tuesday to Rs 191.60. In a third resignation from the Yes Bank board, independent director R. Chandrashekhar put in his papers, the private sector lender said in regulatory filing on Monday. Yesterday, Yes Bank soared as much as 7.6 percent to Rs 205.50, registering biggest intraday percentage gain since November 1, after ICRA retained its issuer ratings. The credit rating agency retained its overall long-term issuer ratings for the lender at AA+, with a rating ‘watch’ with developing negative implications, Yes Bank said in the exchange filing on Saturday.

    09:14 (IST)20 Nov 2018
    BSE Live: Sensex down 45 points in pre-open session

    The 30-share Sensex is down about 44 points in the pre-open session to 35,730.77. A look at the heat map.

    09:11 (IST)20 Nov 2018
    HEG, OIL and Fortis Malar shares in focus

    HEG: The company’s board will meet on November 26 to consider the proposal for buyback of equity shares.

    OIL: Oil India board on Monday said it will meet on December 3 to consider a buyback proposal. The board also approved raising goreihn currency debt securities worth Rs 4,000 crore.

    Fortis Malar Hospitals: Chief Financial Officer Vijayasarathy Desikan has resigned from his position, the company informed.

    Also read: Stocks in news: Jet Airways, Yes Bank, HEG, OIL, Fortis Malar Hospitals

    09:09 (IST)20 Nov 2018
    Stocks in news: Jet Airways, Yes Bank

    Jet Airways: The pilots of Jet Airways have threatened not to perform additional duties from next month if their salary dues were not cleared by November 30, PTI reported citing an airline source.

    Yes Bank: In a third resignation from the Yes Bank board, independent director R. Chandrashekhar put in his papers, the private sector lender said in regulatory filing on Monday.

    09:08 (IST)20 Nov 2018
    Easing tensions between RBI, govt positive for INR assets: DBS

    Easing tensions between the Reserve Bank of India (RBI) and the government was likely to be positive for Indian Rupee (INR) assets, particularly as the central bank was seen to retain its operational autonomy, said a leading Singapore bank. “Knee jerk gains in bonds are likely, before returning to familiar drivers particularly in midst of the sharp overnight sell-off in the US markets,” said the DBS Banking Group in its report on Tuesday.

    Also read: Easing tensions between RBI, govt positive for INR assets: DBS

    09:06 (IST)20 Nov 2018
    Asian stock markets tumble on tech sell-off, dollar sags

    Asian stock markets skidded on Tuesday, extending sharp losses on Wall Street as technology firms bore the brunt of worries about slackening demand, while the dollar sagged after weak U.S. data further sapped confidence in the currency. MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.9 percent. The Shanghai Composite Index retreated 1 percent, Australian stocks lost 0.9 percent and tech-heavy South Korean shares dropped 0.8 percent.

    Also read: Asian stock markets tumble on tech sell-off, dollar sags

    09:05 (IST)20 Nov 2018
    Crude oil treads water amid expected OPEC cuts, gloomy economic outlook

    Oil prices were held in check on Tuesday as expectations of an OPEC-led supply cut supported the market but were countered by a deteriorating economic outlook, as well as a surge in U.S. production. U.S. West Texas Intermediate (WTI) crude futures, were at $57.14 per barrel at 0250 GMT, 6 cents below their last settlement. Front-month Brent crude oil futures were at $66.75 a barrel, down 4 cents from their last close.

    Also read: Crude oil treads water amid expected OPEC cuts, gloomy economic outlook

    09:04 (IST)20 Nov 2018
    Market to take cues from RBI board meet decisions

    The stock markets will look to take cues from the much awaited meeting of the full RBI Board held yesterday. The meeting being watched keenly by the market, ended reportedly on a cordial note after nine grueling hours on Monday. In the high profile meeting, which came amid the differences between the government and the RBI spilling out in the open, the central bank decided to take measures to improve liquidity conditions, Reuters reported citing unidentified sources. 

    Also read: RBI strikes ‘cordial note’; discusses easing liquidity, MSME credit in high profile board meet

    Share market on Monday: Ahead of the outcome of the crucial board meet of the Reserve Bank of India, the BSE Sensex rallied over 300 points to end Monday’s trade at over a six-week high of 35,774.88 points. The NSE Nifty surged 0.76% to end the trade at 10,763.40 points yesterday. According to market observers, positive Asian markets, along with foreign fund inflows and healthy buying in most FMCG, metals, pharma, realty, media, and auto stocks kept the market sentiment upbeat.
    Next Stories
    1Apollo Hospitals on track to achieve 20% Ebitda growth
    2IL&FS effect! Liquidity woes – NBFCs bank on securitisation
    3Explained: Why industrial products exports need more push from government, industry