Share Market Highlights: Sensex closes 336 points down, Nifty below 10,850; ITC, M&M among top losers

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Updated:Jan 23, 2019 4:03:31 pm

Track Share Market Highlights: The domestic stock markets --Sensex and Nifty--turned choppy in the afternoon trade on Wednesday, after opening the session mildly lower. The Sensex closed 336.17 points down at 36,108.47, while the Nifty ended 0.92% down at 10,822.15.

Share Market Live, Share Market TodayBSE Sensex, Nifty, Indian Share Market Highlights: ITC share price plunged to close 4.75% lower, after it reported Q3 results below expectations. M&M shares lost nearly 2% to Rs 695.

Stock Market Highlights: The domestic stock markets –Sensex and Nifty–turned choppy in the afternoon trade on Wednesday, after opening the session mildly lower. The Sensex closed 336.17 points down at 36,108.47, while the Nifty ended 0.92% down at 10,822.15. ITC share price plunged to close 4.75% lower, after it reported Q3 results below expectations. M&M shares lost nearly 2% to Rs 695, to emerge among the top losers in the Sensex.

Asian stocks edged down on Wednesday on mounting signs of slowing global growth and anxiety over a yet-unresolved Sino-U.S. trade dispute. Japan’s Nikkei dropped 0.7 percent while MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.1 percent. On Wall Street, the S&P 500, the Nasdaq and the Dow all posted their biggest one-day percentage drops since Jan. 3 on Tuesday. The S&P lost 1.42 percent, Reuters reported. We bring to you LIVE updates.

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

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    15:39 (IST)23 Jan 2019
    BSE Live: Sensex closes 336 points down, Nifty below 10,850; ITC, M&M among top losers

    The domestic stock markets --Sensex and Nifty--turned choppy in the afternoon trade on Wednesday, after opening the session mildly lower. The Sensex closed 336.17 points down at 36,108.47, while the Nifty ended 0.92% down at 10,822.15. ITC share price plunged to close 4.75% lower, after it reported Q3 results below expectations. M&M shares lost nearly 2% to Rs 695, to emerge among the top losers in the Sensex. A look at live Sensex heatmap.

    15:28 (IST)23 Jan 2019
    Mukesh Ambani’s Reliance Retail only Indian firm on Deloitte’s top 250 retailers’ list; check first 3

    Billionaire Mukesh Ambani-backed Reliance Retail jumped 95 places to 94th rank as top 250 global retailers on Deloitte’s Global Powers of Retailing 2019 index. The latest feat by the firm owned by richest Indian businessman has been achieved on account of growth in grocery, consumer electronics, and fashion and lifestyle businesses, the report said. Last year, the consumer arm of Reliance Industries had become the first and only Indian company to have entered the global retailers’ list last year based on its revenues for FY17.

    Also read: Mukesh Ambani’s Reliance Retail only Indian firm on Deloitte’s top 250 retailers’ list; check first 3

    14:53 (IST)23 Jan 2019
    Sensex down 170 points, Nifty below 10,900; Sun Pharma, Yes Bank up 3%, ITC shares slump

    The domestic stock markets --Sensex and Nifty--extended losses in the afternoon trade on Wednesday, afte opening mildly lower. The Sensex is down 206.36 points to 36,238.28, while the Nifty is trading below the 10,900-mark. Sun Pharma shares are trading 3% higher at Rs 430.70, while Yes Bank shares are trading 3% high at Rs 198. ITC shares tanked by more than 2.07% to Rs 283.45, after the firm reported Q3 results below expectations. A look at LIVE Sensex heatmap.

    14:21 (IST)23 Jan 2019
    What is Industry 4.0, why it offers huge opportunity for India?

    Industry 4.0 or fourth industrial revolution provides huge opportunity to India, news agency PTI reported citing the Department of Industrial Policy and Promotion (DIPP) Secretary, Ramesh Abhishek. The country needs to adopt new technologies and provide a facilitative policy framework on a fast-track basis, he also said on the sidelines of the World Economic Forum (WEF) annual meeting. Efforts are being made both at the centre and the state level in this regard, he added.

    Also read: What is Industry 4.0, why it offers huge opportunity for India?

    13:08 (IST)23 Jan 2019
    BSE Live: Sensex turns positive, Nifty above 10,900; Sun Pharma, Yes Bank among top gainers

    The domestic stock markets –Sensex and Nifty–turned positive in the afternoon trade on Wednesday. Sensex is up about 4 points to 36,448.24, while the Nifty is nearing the 10,950-mark. Sun Pharma shares are trading 3.2% higher at Rs 431.45. Yes Bank shares gained more than 2.4% to Rs 196.75, to emerge among the biggest Sensex gainers. A look at LIVE Sensex heatmap.

    12:54 (IST)23 Jan 2019
    India among most innovative nations list for first time, check top five

    In a major development, India has debuted among the world’s most innovative countries, according to a report. In Bloomberg 2019 Innovative Index, India has grabbed the 54th position among 95 countries. South Korea has retained the top spot, though improvements by Germany in research and education brought Europe’s largest economy to near-parity in the annual ranking. Notably, South Korea has got a total score of 87.38, while Germany has received a score of 87.30. Explaining the process behind how the nations were assigned a score, Bloomberg said that the 2019 ranking process began with more than 200 economies.

    Read full story here: India among most innovative nations list for first time, check top five

    11:02 (IST)23 Jan 2019
    BSE Live: Sensex extends losses, Nifty near 10,900; HUL, Yes Bank among top gainers

    After opening mildly lower on Wednesday morning, the domestic stock markets --Sensex and Nifty--extended losses in the late morning trade. Sensex is down 60 points to 36,380.40, while the Nifty is nearing the 10,900-mark. Yes Bank shares gained more than 1.5% to Rs 195, while Asian Paints shares jumped more than 1.6% to Rs 1,430 after robust Q3 results. HUL shares are trading 1.6% higher at Rs 1,779 on BSE. A look at LIVE Sensex heatmap.

    10:14 (IST)23 Jan 2019
    Rupee spurts 29 paise against US dollar in early trade

    The rupee rose 29 paise to 71.15 against the US dollar in early session Wednesday on increased selling of the American currency by exporters and banks amid a positive opening of the domestic equity markets. At the Interbank forex market, the rupee opened higher at 71.19 and advanced further to quote 29 paise higher at 71.15 against the dollar. Besides, the dollar falling against other currencies overseas on lingering worries about a global slowdown and continuing US-China trade tensions, supported the Indian rupee, forex dealers said. (PTI reported)

    09:54 (IST)23 Jan 2019
    EBay CEO has a stark choice: Show growth or break up company

    EBay Inc. Chief Executive Officer Devin Wenig has long argued that the 24-year-old online marketplace can thrive in the age of Amazon by not being like, well, Amazon. EBay has no Prime-style subscription and makes a big deal about helping shoppers discover products rather than mission shopping as they typically do at Amazon.com Inc. To compete against his larger rival, Wenig has tried to freshen EBay’s image with younger shoppers, made the site easier to navigate and harnessed artificial intelligence to give EBay merchants real-time insights about what shoppers want and how much they’re willing to pay.

    Also read: EBay CEO has a stark choice: Show growth or break up company

    09:30 (IST)23 Jan 2019
    BSE Live: Sensex opens mildly lower, Nifty below 10,950; Asian Paints, Yes Bank shares up 1%

    The domestic stock markets --Sensex and Nifty--opened lower on Wednesday, tracking weak global cues. Sensex is down 26 points to 36,416.23, while the Nifty is trading below the 10,950-mark. Yes Bank shares gained more than 1.5% to Rs 195, while Asian Paints shares jumped more than 1.6% to Rs 1,430 after robust Q3 results. A look at LIVE Sensex heatmap.

    09:15 (IST)23 Jan 2019
    Recap: IndiGo share price zooms 6% after firm retains highest market share in December

    Shares of India’s major low cost airline gained in trade on Tuesday, after the firm retained the top spot in terms of market share in the month of December. IndiGo shares gained by nearly 6% to intra-day high of Rs 1,126.40 on BSE. According to latest figures provided by Directorate General of Civil Aviation (DGCA), IndiGo’s market share has increased marginally to 43.2% from 43% in the month of November. Notably, the airline is scheduled to report Q3 results tomorrow. IndiGo’s huge market share is followed by state-run carrier Air India (12.4%), SpiceJet (12.3%) and Jet Airways (12.2%). GoAir’s market share came in at 8.8%. For the calendar year 2018, IndiGo held on to the highest market share of 41.5%, with Jet Airways coming at the second spot (13.8%), followed by state-run Air India (12.7%). SpiceJet (12.3%), GoAir (9%) were the next on the list.

    Read more: IndiGo share price zooms 6% after firm retains highest market share in December

    09:08 (IST)23 Jan 2019
    Exposure to IL&FS: Government to ask RBI for relief to banks

    The government will approach the Reserve Bank of India (RBI) seeking a special dispensation for banks to defer provisioning requirements for their exposure to crisis-ridden Infrastructure Leasing & Financial Services (IL&FS), official sources said on Tuesday. Earlier in the day, top officials in the ministries of finance and corporate affairs met senior bankers in North Block, the building that houses the finance ministry, to hammer out a solution, amid mounting fears that lenders could see a spurt in bad loans from their over `50,000-crore exposure to the debt-laden group if the RBI refuses relief.

    Also read: Exposure to IL&FS: Government to ask RBI for relief to banks

    09:06 (IST)23 Jan 2019
    Nikkei wobbles on trade worries but weak yen tempers losses

    Japan's Nikkei wavered on Wednesday as weaker-than-expected December exports and concerns over U.S.-China relations added to worries about the outlook for the trade-reliant economy, though a softer yen offset pressure on exporters. The Nikkei share average was little changed at 20,631.54 points at the midday break, after flitting between negative and positive territory. As expected, the Bank of Japan trimmed its inflation forecasts but maintained its ultra-loose monetary policy at the end of a two-day meeting on Wednesday. (Reuters reported)

    09:05 (IST)23 Jan 2019
    Wall Street drops as economic outlook, corporate forecasts sour

    US stocks ended lower on Tuesday, snapping a four-session rally, as a gloomy global economic growth outlook, trade concerns and disappointing company forecasts dampened sentiment. All three major U.S. stock indexes pared losses after White House economic advisor Larry Kudlow denied a report by the Financial Times that the Trump administration canceled preparatory trade talks with China. Still, the S&P 500, the Nasdaq and the Dow all posted their biggest one-day percentage drops since Jan 3. (Reuters reported)

    09:04 (IST)23 Jan 2019
    Gold steady on global growth, Sino-U.S. trade worries

    Gold prices held steady on Wednesday, as mounting concerns over a slowing global economic growth and uncertainty around Sino-U.S. trade tensions dampened appetite for risk. Spot gold was little changed at $1,284.19 per ounce by 0112 GMT, while U.S. gold futures were also steady at $1,283.40 per ounce.Spot gold rose 0.4 percent on Tuesday, its biggest one-day percentage gain in more than a week, as global stock markets fell on concerns over global growth. Asian stocks dipped further on Wednesday. (Reuters reported)

    09:03 (IST)23 Jan 2019
    Asian shares dip, worries over growth and trade sour mood

    Asian stocks edged down on Wednesday on mounting signs of slowing global growth and anxiety over a yet-unresolved Sino-U.S. trade dispute. Japan's Nikkei dropped 0.7 percent while MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.1 percent. On Wall Street, the S&P 500, the Nasdaq and the Dow all posted their biggest one-day percentage drops since Jan. 3 on Tuesday. The S&P lost 1.42 percent. Putting a dent on risky assets was a report by the Financial Times that the Trump administration has rejected an offer from China for preparatory trade talks this week ahead of high-level negotiations scheduled for next week. (Reuters reported)

    Share market on Wednesday: The domestic stock markets –Sensex and Nifty– recovered from lows, but ended in the negative on Tuesday. The Sensex closed 134 points down at 36,444.64 while the Nifty closed below the 10,900-mark. Sun Pharma shares ended 4.54% higher at Rs 416.45, while Kotak Mahindra Bank shares closed 1.79% higher at Rs 1,290. These stocks emerged as the biggest gainers on the Sensex. VEDL shares ended 3.63% lower at Rs 191.29, and M&M shares lost about 3.3% to Rs 706.05. These were the top two losers in the 30-share Sensex. Sun Pharma shares gained more than 4.3% to Rs 415.60 in the morning trade, while Kotak Mahindra shares rallied 2.08% to Rs 1,293.55. Kotak Mahindra Bank has reported  a 23% on year growth in net profit to Rs 1,291 crore for the third quarter ended December 31, on higher net interest income.