Share market highlights: Sensex ends 53 points higher, Nifty above 10,900; Jet Airways zooms 9%, Axis bank up 2%

By: |
Updated:Jan 17, 2019 4:16:43 pm

Share market highlights: After turning choppy, the domestic stock markets--Sensex and Nifty--ended mildly higher on Thursday afternoon. Sensex ended 52.79 points higher at 36,374.08, while the Nifty closed 0.14% up at 10,905.20.

Budget 2019, Interim Budget 2019, Stock Market Expectaion From Budget 2019, Populist Budget 2019, General Election, Ruling Party Budget, Stocks, Sectors, Rural Sector, Housing, Infra, Construction, TaxationShare market highlights: Jet Airways closed 4% higher at Rs 282.10 on BSE.

Stock market highlights: After turning choppy, the domestic stock markets–Sensex and Nifty–ended mildly higher on Thursday afternoon. Sensex ended 52.79 points higher at 36,374.08, while the Nifty closed 0.14% up at 10,905.20. Jet Airways closed 4% higher at Rs 282.10 on BSE, after State Bank of India said lenders are considering a resolution plan for Jet Airways to ensure long-term viability of the debt-laden company. Axis Bank shares closed 1.86% higher at Rs 676, to emerge as the biggest gainer in the Sensex.

Asian share markets faltered on Thursday as unease over China’s economic outlook eroded early gains, though an anti-climactic end to the latest chapter in the Brexit saga did offer sterling a moment’s peace. MSCI’s broadest index of Asia-Pacific shares outside Japan edged down 0.1 percent in thin trade, while E-Mini futures for the S&P 500 slipped 0.3 percent, Reuters reported.

Back home, Mukesh Ambani-led Reliance Industries will assume focus, ahead of its Q3 results scheduled to be reported after market hours today. Analysts expect some pressure on refining margins on a sequential basis, CNBC TV18 reported. Nomura expects revenue of Reliance Retail to double to 37,000 crore in the third quarter. We bring to you LIVE updates.

Read More

Live Blog

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

Highlights

    15:41 (IST)17 Jan 2019
    BSE Live: Sensex Jet Airways closed 4% higher at Rs 282.10 on BSE

    After turning choppy, the domestic stock markets--Sensex and Nifty--ended mildly higher on Thursday afternoon. Sensex ended 52.79 points higher at 36,374.08, while the Nifty closed 0.14% up at 10,905.20. Jet Airways closed 4% higher at Rs 282.10 on BSE, after State Bank of India said lenders are considering a resolution plan for Jet Airways to ensure long-term viability of the debt-laden company. Axis Bank shares closed 1.86% higher at Rs 676, to emerge as the biggest gainer in the Sensex. A look at Sensex LIVE heatmap.

    15:30 (IST)17 Jan 2019
    Here’s how much fiscal deficit will widen if Modi gives farm relief package ahead of election, Fitch reveals

    India Ratings and Research (Ind-Ra), the Indian arm of Fitch Group, expects India’s fiscal deficit to go up by 70 basis points in the financial year 2019-20 if the Narendra Modi-led government decides to roll out a relief package for small and marginal farmers in the country. In the ongoing financial year 2018-19, the fiscal deficit is expected to rise to 3.5% of GDP compared to budgeted 3.3%, it added. “There is also a likelihood of a fiscal package for distressed farmers in the FY20 budget. In case the government decides to pay Rs 10,000/acre/year to small and marginal farmers, under ceteris paribus condition, this will push fiscal deficit of the central government by 72bp in FY20. Though not an easy option, if opted it will delay the rate cut process,” it added.

    Read more: Here’s how much fiscal deficit will widen if Modi gives farm relief package ahead of election, Fitch reveals

    15:04 (IST)17 Jan 2019
    BSE live: Sensex up 120 points, Nifty above 10,900; Jet Airways surges 9%, Axis Bank up 2.5%

    After turning choppy, the domestic stock markets--Sensex and Nifty--recovered in the afternoon trade on Thursday. Sensex is up about 132 points to 36,453.17, while the Nifty is trading above the 10,900-mark. Jet Airways share price zoomed more than 9% to Rs 295.80 on BSE, after State Bank of India said lenders are considering a resolution plan for Jet Airways to ensure long-term viability of the debt-laden company. Axis Bank shares are trading 2.2% higher at Rs 678.45. A look at LIVE Sensex heatmap.

    14:46 (IST)17 Jan 2019
    SBI raises US Dollar 1.25 billion via bonds

    Country’s largest lender State Bank of India (SBI) Thursday said it has raised USD 1.25 billion (about Rs 8,800 crore) through bonds from overseas market to fund its business expansion. The bank has concluded the standalone issuance of fixed rate senior unsecured notes in two tranches of USD 850 million for 5 years with a coupon of 4.375 per cent and USD 400 million for 3 years with a coupon of 4 per cent payable semi-annually, SBI said in a regulatory filing. The bonds will be issued through the London branch of the bank and will be listed on Singapore Stock Exchange and lndia lnternational Exchange, GIFT City, it said.

    Read more: SBI raises US Dollar 1.25 billion via bonds

    14:27 (IST)17 Jan 2019
    Expert take: Sensex may near 39,000-mark, corporate earnings bigger trigger than elections: Mayuresh Joshi, Angel Broking

    Corporate earnings offer a bigger trigger for the stock markets in 2019, than even the upcoming general elections, says a veteran fund manager. The markets are closely watching how banks, FMCG and select upstream oil and gas firms perform on the earnings front going ahead, Mayuresh Joshi of Angel Broking adds. Sharing his long-term outlook for the stock markets, the veteran fund manager tells FE Online while Nifty may move near to 12,000, Sensex is likely to inch towards 39,000-mark.On rupee, Mayuresh Joshi tells FE Online that the domestic currency may hover in the 67-72 per US dollar mark with a slight bias towards strengthening over the year.

    Read full interview here: Sensex may near 39,000-mark, corporate earnings bigger trigger than elections: Mayuresh Joshi, Angel Broking

    14:13 (IST)17 Jan 2019
    India’s GDP growth would be even better if global factors did not play spoilsport, says Fitch

    India’s GDP growth is expected to be a tad higher at 7.5% in the financial year 2019-20 compared with 7.2% in the financial year 2018-19. The growth, however, would be more dispersed and balanced across sectors, said India Ratings and Research (Ind-Ra), the Indian arm of Fitch group, on Thursday. According to the rating agency, the FY19 GDP growth would have been even better if global factors such as higher crude oil prices and strong US dollar had not played spoilsport. Further, Fitch said that hiccups faced on the domestic turf such as frequent revisions in GST rates, NBFC liquidity issue post IL&FS debt crisis and slow progress on Insolvency and Bankruptcy Code cases, among others, also hurt.

    Also read: India’s GDP growth would be even better if global factors did not play spoilsport, says Fitch

    13:05 (IST)17 Jan 2019
    BSE Live: Sensex down 20 points, Nifty below 10,900; Yes Bank, SBI shares plunge

    After trading higher, the stock markets --Sensex and Nifty--have erased gains in the afternoon trade on Thursday. Sensex is down about 20 points to 36,300.12, while the Nifty is trading below the 10,900-mark.  SBI and Yes Bank shares have emerged among the biggest Sensex losers. Yes Bank are trading 2.3% down at Rs 201.55, SBI shares are also trading 2.3% lower at Rs 295.60. A look at LIVE Sensex heatmap.

    12:20 (IST)17 Jan 2019
    Investing in stock market? Ten rules to keep in mind at all times

    In many of my social media posts and blog articles, I often quote Bob Farrell’s rules on investing. I find them an invaluable source of market wisdom to study investor sentiment and psychology. Bob Farrell is a market veteran of over five decades and did study fundamental analysis under Gramm and Dodd, Warren Buffett’s teachers, but eventually became a trader. Here are the 10 rules of investing that Bob advocated and my two bits on each of them. 

    Markets tend to return to the mean over time

    Profit margin is the most mean reverting series in finance. Stock prices have an added layer of investor’s greed and fear. Eventually stock price mean revert to earning trends and valuations.

    Read more: Investing in stock market? Ten rules to keep in mind at all times

    11:36 (IST)17 Jan 2019
    Microsoft pledges $500 million to boost affordable housing

    Microsoft Corp. said it will spend $500 million to develop affordable housing and help alleviate homelessness in the Seattle area, responding to a growing regional housing crisis that has strained the finances of many lower- and middle-income residents. Half the money will be spent to support low-income housing across King County with a further $225 million invested at lower than market rates to subsidize the preservation and construction of middle-income homes, the Redmond, Washington-based company said in a blog post. The remaining $25 million will be used to address homelessness in the greater Seattle region.

    Also read: Microsoft pledges $500 million to boost affordable housing

    11:21 (IST)17 Jan 2019
    BSE Live: Sensex up 100 points, Nifty above 10,900; Yes Bank shares down up to 3%

    After opening higher, the domestic stock markets  --Sensex and Nifty--are holding on to gains. Sensex is up about 109.14 points to 36,430.43, while the Nifty is trading above the 10,900-mark. RIL shares gained by more than 1% to Rs 1,148.65 on BSE, ahead of its Q3 results scheduled to be reported later today. Yes Bank shares are trading 2.3% down at Rs 201.55. A look at LIVE Sensex heat map.

    10:45 (IST)17 Jan 2019
    BSE Live: Reliance Industries share price zooms 1.2% ahead of Q3 results today

    Shares of billionaire Mukesh Ambani-led Reliance Industries gained in trade on Thursday morning, ahead of Q3 results scheduled to be reported later today. Reliance Industries share price gained by more than 1.2% to Rs 1,147.80 in the morning trade. According to Nomura, RIL's revenue is slated to cross the Rs 37,000 crore mark in Q3. ICICI Securities Ltd estimates RIL's GRM for the December quarter to be at a 16-quarter low of $8.7 a barrel, and down from $9.5 a barrel in the previous quarter. Analysts at Kotak Institutional Equities estimate revenues and operating profit of Reliance Jio to increase 14% and 20%, respectively, on a sequential basis.

    10:16 (IST)17 Jan 2019
    Rupee opens 14 paise higher to 71.09 per US dollar; 10-year govt bond yields fall

    The Indian rupee opened 14 paise higher on Thursday to 71.09 per US dollar from the previous close of 71.23 per US dollar. However, it soon erased all gains and was trading little lower against the US currency. At 9:40 AM (IST), the domestic currency was trading at 71.18 per US dollar, down 4 paise from the previous close of 71.23 per US dollar, after touching an intraday low of 71.24 per US dollar and an intraday high of 71.09 per US dollar, according to data available with the Bloomberg website. In the debt markets, the 10-year government bond yields were at 7.26% compared with Wednesday’s close of 7.273%. Bond yields and prices move in opposite directions.

    Also read: Rupee opens 14 paise higher to 71.09 per US dollar; 10-year govt bond yields fall

    09:46 (IST)17 Jan 2019
    BSE Live: Jet Airways share price extends losses, down 5%, after reports of Eithad looking to invest at a discount

    Shares of India's major private sector carrier Jet Airways exteded losses on Thursday, after reports that Eithad looking to invest at a discount. Jet Airways shares slumped by more than 5% to Rs 256.60 in the morning trade on Thursday. Yesterday, Jet Airways shres closed 7.95% lower after  media reports said that Etihad Airways is looking to acquire a stake in the carrier only at a price of Rs 150 per share. According to a CNBC TV18 report, Etihad Airways group CEO Tony Douglas has written to SBI Chairman regarding Jet Airways restructuring, the news channel reported citing unidentified sources.  Ina stock excchange filing yesterday, Jet Airways said that it is contemplating various options, including proportion of equity infusion by various stakeholders and the consequent change in the company’s board, is also being looked at. 

    Also read: Will Etihad raise stake in Jet Airways? What Naresh Goyal-led airline has to say about resolution plan

    09:24 (IST)17 Jan 2019
    BSE Live: Sensex up 125 points, Nifty above 10,900; Reliance Industries, HUL shares gain

    The domestic stock markets  --Sensex and Nifty--opened higher on Thursday,  tracking positive global cues. The Sensex is up about 132 points to 36,453.62, while the Nifty is trading above the 10,900-mark. RIL shares gained by more than nearly 1% to Rs 1,144 on BSE, while HUL shares were trading 0.8% higher at Rs 1,784, ahead of their Q3 results scheduled to be reported today. A look at LIVE Sensex heatmap.

    09:14 (IST)17 Jan 2019
    On the block: SBI puts Rs 15,431 cr Essar assets on sale; reserve price at Rs 9,588 cr

    State Bank of India on Wednesday put on sale its stressed exposure to Essar Steel India worth Rs 15,431 crore. Bids have been invited at a reserve price of Rs 9,588 crore, implying a fairly steep haircut of 38% and buyers must pay the entire amount in cash . The haircut of 38% is higher than the near 27% hit that the the bank would take post recovery through the corporate insolvency resolution if the ArcelorMittal’s resolution plan gets the National Company Law Tribunal (NCLT)’s nod. However, the provisioning requirement is becoming a burden for the lender at near 100% of the value of the exposure. In fact Bank of Baroda sold its Essar Steel exposure a few months ago.

    Also read: On the block: SBI puts Rs 15,431 cr Essar assets on sale; reserve price at Rs 9,588 cr

    09:13 (IST)17 Jan 2019
    Oil prices edge down as US fuel stockpiles grow more than expected

    U.S. oil prices inched down on Thursday, with traders worried about the strength of demand in the United States after gasoline stockpiles there grew last week by far more than analysts had expected. U.S. West Texas Intermediate (WTI) crude futures were at $52.20 per barrel at 0022 GMT, down 11 cents, or 0.2 percent, from their last settlement. WTI futures closed up 0.4 percent on Wednesday. International Brent crude oil futures had yet to trade, after closing up 1.1 percent in the previous session.

    Also read: Oil prices edge down as US fuel stockpiles grow more than expected

    09:12 (IST)17 Jan 2019
    British PM Theresa May wins confidence vote, calls on MPs to work together to deliver Brexit

    British Prime Minister Theresa May has called on MPs to “put self-interest aside” and “work constructively together” towards Brexit after surviving a no confidence vote and averting a general election. The prime minister won by 325 votes to 306 – a majority of 19- on Wednesday, a day after her government suffered a historic parliamentary defeat over her Brexit divorce deal with the European Union. Speaking outside 10 Downing Street after the voting, May said the government has won the confidence of Parliament.This now gives “us all the opportunity to focus on finding a way forward on Brexit”, she said.

    Also read: British PM Theresa May wins confidence vote, calls on MPs to work together to deliver Brexit

    09:11 (IST)17 Jan 2019
    Asia shares edge up, pound gets moment’s peace

    Asian shares crept higher on Thursday as upbeat bank earnings bolstered Wall Street, while an anti-climactic end to the latest chapter in the Brexit saga gave sterling a moment’s peace. MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.1 percent, with Australia was ahead by 0.2 percent. Nikkei futures pointed to an opening rise of around 0.5 percent for the cash index. E-Mini futures for the S&P 500 firmed 0.6 percent.

    Also read: Asia shares edge up, pound gets moment’s peace

    09:09 (IST)17 Jan 2019
    Upbeat bank earnings send Wall Street to one-month highs

    Wall Street’s major indexes hit one-month highs on Wednesday as strong earnings from Bank of America Corp and Goldman Sachs Group Inc boosted investor sentiment. Goldman Sachs shares surged 9.5 percent, providing the greatest boost to the Dow, after the bank reported quarterly revenue and earnings that topped estimates. The shares registered their biggest daily percentage gain in nearly 10 years. Bank of America shares jumped 7.2 percent, leading the S&P 500 higher, after the bank reported a higher-than-expected quarterly profit on growth in its loan book. The shares posted their biggest one-day percentage gain in 6-1/2 years.

    Read more: Upbeat bank earnings send Wall Street to one-month highs

    09:08 (IST)17 Jan 2019
    US dollar pauses, pound steadies after May wins no-confidence vote

    The dollar took a breather on Thursday following its recent strong gains against key rivals, while sterling steadied after British Prime Minister Theresa May’s government won a no-confidence vote in parliament. The dollar index, which measures the greenback against six major peers, stood at 96.055 after gaining half a percent during the previous two sessions. The U.S. currency largely held onto its gains against the euro as persistent worries about the euro zone economy weigh on the single currency.

    Also read: US dollar pauses, pound steadies after May wins no-confidence vote

    Share market on Wednesday: The domestic stock markets –Sensex and Nifty–erased gains in the afternoon trade on Wednesday, on mixed cues. The Sensex ended 2.96 points higher at 36,321.29, while the Nifty closed below the 10,900-mark. Yes Bank shares closed 2.19% higher at Rs 207.40 on the BSE, while IndusInd Bank shares ended 1.86% higher at Rs 1,524.55, to emerge among the biggest Sensex gainers.