Share market Highlights: Sensex ends 378 points down, Nifty below 10,700; bluechips RIL, TCS tank

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Updated:Jan 03, 2019 4:46:04 pm

Share market Highlights: The domestic stock markets--Sensex and Nifty-- ended lower on Thursday afternoon, as beluechip heavyweights including RIL and TCS dragged the index. The Sensex closed 377.81 points down to 35,513.71, while the Nifty 50 closed below the 10,700-mark.

Share Market Live, Stock Market Live, Nifty Live, NSE live, BSE live, Live Market Update, Market Today, Indian Share Market Live, Indian Stock Market LiveShare Market Highlights: RIL share price plunged by more than 1.4% to Rs 1,090.10, while TCS shares ended 1.15% lower at Rs 1,919 on BSE.

Share market Highlights: The domestic stock markets–Sensex and Nifty– ended lower on Thursday afternoon, as beluechip heavyweights including RIL and TCS dragged the index. The Sensex closed 377.81 points down to 35,513.71, while the Nifty 50 closed below the 10,700-mark. RIL share price plunged by more than 1.4% to Rs 1,090.10, while TCS shares ended 1.15% lower at Rs 1,919 on BSE. M&M shares plunged by more than 1.9% to hit the day’s low at Rs 727.15. ONGC share price tanked by 3.16% to Rs 142.40 on NSE.

Shares of Bank of Baroda rallied more than 3% to Rs 123.40 on NSE after the Union Cabinet on Wednesday approved the proposal to merge Bank of Baroda (BoB), Vijaya Bank and Dena Bank. Vijaya Bank shares plunged by nearly 7.5% to hit the day’s low at Rs 51.05. Dena Bank shares plunged by 20% to Rs 14.40 in the morning trade. 

Earlier, US stock futures fell on Thursday after a rare revenue warning from Apple Inc added to worries about slowing global growth, but a move by China’s central bank to help struggling smaller firms lifted shares there, cushioning losses for Asian markets. The Cupertino, California-based tech giant blamed fewer iPhone upgrades and slowing sales in China in warning about revenues in its most recent quarter, its first such warning since 2007. Its shares tumbled 8 percent in after-hours trade, Reuters reported.

Wall Street edged higher on Wednesday after stumbling out of the starting gate on the first trading day of 2019, while fears of a global economic slowdown were exacerbated after Apple cut its holiday-quarter revenue forecast, said the Reuters report. We bring to you LIVE updates.

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Highlights

    15:49 (IST)03 Jan 2019
    BSE Live: Sensex ends 378 points down, Nifty below 10,700; bluechips RIL, TCS tank

    The domestic stock markets--Sensex and Nifty-- ended lower on Thursday afternoon, as beluechip heavyweights including RIL and TCS dragged the index. The Sensex closed 377.81 points down to 35,513.71, while the Nifty 50 closed below the 10,700-mark. RIL share price plunged by more than 1.4% to Rs 1,090.10, while TCS shares ended 1.15% lower at Rs 1,919 on BSE. A look at Sensex heatmap.

    15:16 (IST)03 Jan 2019
    MSMEs take note: This approach may get you easier credit

    According to the World Bank, $230 billion is the current gap between the demand and supply of credit within the Indian MSME sector. To put this number in context, the nominal GDPs in 2018 of two of India’s neighbouring countries, Pakistan and Bangladesh, are estimated at $309.7 billion and $285.81 billion respectively. While numbers do not lie, these statistics shed light on a particularly alarming truth. MSMEs, which contribute over 40% to the country’s total manufacturing output and exports, are starved for the capital they need to sustain and grow their operations.

    Read full story here: MSMEs take note: This approach may get you easier credit

    14:55 (IST)03 Jan 2019
    HDFC MF surpasses ICICI Prudential MF to become largest AMC in India

    HDFC Mutual Fund has pipped ICICI Prudential MF to become the country's largest asset management company after a gap of over two years. As of December-end, HDFC MF manages assets to the tune of Rs 3.35 lakh crore, while those of ICICI Prudential MF stood at Rs 3.08 lakh crore, as per the latest data available with Association of Mutual funds in India (Amfi). The assets under management (AUM) of HDFC MF have grown over 9 per cent in October-December quarter from the previous three-month period, however, ICICI Prudential MF's AUM slipped by 0.6% during the period under review. (PTI reported)

    14:16 (IST)03 Jan 2019
    MAHB cancels Hyderabad airport stake sale pact with GMR

    Malaysia Airports Holding Berhad has said it terminated the Share Purchasing Agreement (SPA) with the GMR Group for selling its 11 per cent stake to the latter as the Indian infra major did not fulfil the obligations as per the agreement before December 31. GMR Infrastructure Limited in February last year said its subsidiary GMR Airports Limited entered into an agreement with Malaysia Airports Holding Berhad and its subsidiary to acquire 11 per cent of the stake that the Malaysian company is holding in GMR Hyderabad International Airport, for USD 76 million. (PTI reported)

    12:54 (IST)03 Jan 2019
    Vedanta Sterlite plant: SC to hear Tamil Nadu’s appeal against NGT order on Jan 8

    he Supreme Court on Thursday agreed to hear on January 8 Tamil Nadu’s appeal against the NGT order to reopen Vedanta Ltd’s Sterlite copper plant at Tuticorin. A bench of Chief Justice Ranjan Gogoi and Justice S K Kaul said the case will be heard next week. Senior advocate C A Sundaram, appearing for Vedanta, said Tamil Nadu has filed an appeal against the NGT order so the case be heard urgently as they are facing problems with storage of sulphuric acid in the plant. 

    Also read: Vedanta Sterlite plant: SC to hear Tamil Nadu’s appeal against NGT order on Jan 8

    12:42 (IST)03 Jan 2019
    BSE Live: Sensex extends losses, Nifty near 10,700; ONGC, M&M shares down up to 3%

    The domestic stock markets--Sensex and Nifty--extended losses in the afternoon trade on Thursday. The Sensex is down about 230 points to 35,662.16, while the Nifty 50 is trading near the 10,700 level. M&M shares plunged by more than 1.9% to hit the day's low at Rs 727.15. ONGC share price tanked by 3.16% to Rs 142.40 on NSE. A look at Sensex heat map.

    12:17 (IST)03 Jan 2019
    What’s needed for growth of capital markets in 2019

    In 2018, a multitude of regulatory changes was proposed by the market regulator Securities and Exchange Board of India (SEBI) that will reshape our markets in the coming year. Among the important regulatory decisions taken include Interoperability of Clearing Corporations, Unified Cash/F&O Settlements, Delivery based F&O and Cyber security. While the regulatory environment has been shaping up well for the Indian Capital Markets, policy support from the government will be crucial to sustain the current pace of its growth and development. 

    Read full story here: What’s needed for growth of capital markets in 2019

    11:27 (IST)03 Jan 2019
    BSE Live: Sensex plunges 120 points, Nifty below 10,750; Tata Steel, ONGC shares tank

    The domestic stock markets--Sensex and Nifty--are witnessing a highly volatile session this morning. The Sensex is down about 120 points, while the Nifty is trading below 10,750-level. ONGC and Tata Steel shares emerged as major losers, plunging up to 3%. A look at live heatmap.

    10:51 (IST)03 Jan 2019
    Bank of Baroda shares rally; Vijaya Bank, Dena Bank stocks plunge after merger swap ratio announcement

    After the mega PSU bank merger between Bank of Baroda, Vijaya Bank and Dena Bank received Union Cabinet approval yesterday, shares of BoB rallied while the other two lenders tanked in the morning trade on Thursday, as investors reacted to the merger swap ratio. Shares of Bank of Baroda rallied more than 3% to Rs 123.40 on NSE while, Vijaya Bank shares plunged by nearly 7.5% to hit the day's low at Rs 51.05. Dena Bank shares tanked by 20% to Rs 14.40 in the morning trade. The stock markets reacted to the news of merger swap ratio with BoB, wherein, the Dena Bank's shareholders will get 110 shares of Bank of Baroda for every 1,0000 held.

    Also read: Bank of Baroda shares rally; Vijaya Bank, Dena Bank stocks plunge after merger swap ratio announcement

    10:17 (IST)03 Jan 2019
    Sensex turns positive, Nifty nears 10,800; BoB gains 3%, Vijaya, Dena plunge

    After opening lower, the domestic stock markets recovered in the morning trade on Thursday. The Sensex is up about 70 points to 35,960, while the Nifty is nearing the 10,800- mark.  A look at LIVE Sensex heatmap.

    09:52 (IST)03 Jan 2019
    Rupee falls 30 paise to 70.47 per US dollar in early trade; hits fresh 2-week low

    Indian rupee dropped for the second consecutive session on Thursday, hitting a fresh two-week low, strong dollar against major global currencies overseas and heavy selling in domestic equities. The domestic currency opened 12 paise weaker on Thursday at 70.29 per US dollar, after crashing about 75 paise to close at 70.17 against the US dollar on Wednesday. At 9:35, the domestic unit was trading at 70.47 per US dollar, after touching an intraday low of 70.52 per US dollar and an intraday high of 70.29 per US dollar, according to data available with the Bloomberg website.

    Read full story here: Rupee falls 30 paise to 70.47 per US dollar in early trade; hits fresh 2-week low

    09:29 (IST)03 Jan 2019
    Sensex down 90 points, Nifty near 10,750; BoB gains 3%, Vijaya, Dena plunge

    The domestic stock markets--Sensex and Nifty--opened lower on Thursday morning, tracking weak global cues. The Sensex is down about 85 points to 35,805.65, while the Nifty is nearing the 10,750 mark. Shares of Bank of Baroda rallied more than 3% to Rs 123.40 on NSE after the Union Cabinet on Wednesday approved the proposal to merge Bank of Baroda (BoB), Vijaya Bank and Dena Bank. Vijaya Bank shares plunged by nearly 7.5% to hit the day's low at Rs 51.05. Dena Bank shares plunged by 20% to Rs 14.40 in the morning trade.  A look at Sensex LIVE heatmap. 

    09:14 (IST)03 Jan 2019
    Wall Street ekes out gain, Apple cuts revenue forecast after the bell

    Wall Street edged higher on Wednesday after stumbling out of the starting gate on the first trading day of 2019, while fears of a global economic slowdown were exacerbated after Apple cut its holiday-quarter revenue forecast. Apple dropped 8 percent in extended trading late in the day after the iPhone maker slashed its outlook for the December quarter, blaming weak demand in China. Shares of Apple's suppliers also fell, and S&P 500 futures dropped 1.3 percent, signaling that Wednesday's modest advance could unwind when the market reopens on Thursday. (Reuters reported)

    09:13 (IST)03 Jan 2019
    China gains cushion Asian shares after Apple jolt; flash crash hits currencies

    U.S. stock futures fell on Thursday after a rare revenue warning from Apple Inc added to worries about slowing global growth, but a move by China’s central bank to help struggling smaller firms lifted shares there, cushioning losses for Asian markets. The Cupertino, California-based tech giant blamed fewer iPhone upgrades and slowing sales in China in warning about revenues in its most recent quarter, its first such warning since 2007. Its shares tumbled 8 percent in after-hours trade.

    Also read: China gains cushion Asian shares after Apple jolt; flash crash hits currencies

    09:11 (IST)03 Jan 2019
    Gold gains on global growth fears, falling Asian stocks

    Gold prices inched up on Thursday as a dip in Asian equities and worries about a sharp global economic slowdown propelled demand for safer investments.* Spot gold gained about 0.2 percent to $1,286.62 per ounce at 0107 GMT, having earlier touched its highest since June 15 at $1,290.09. * U.S. gold futures were up 0.4 percent at $1,288.80 per ounce. * The dollar index, which tracks the greenback against a basket of major currencies, was hovering about a one-week peak touched in the previous session.

    Read full story here: Gold gains on global growth fears, falling Asian stocks

    09:09 (IST)03 Jan 2019
    Oil prices drop amid currency and stock market turmoil

    Oil prices fell by more than one percent on Thursday amid volatile currency and stock markets, and as analysts warned of an economic slowdown for 2019. U.S. West Texas Intermediate (WTI) crude oil futures were at $45.83 per barrel at 0120 GMT, down 71 cents, or 1.5 percent, from their last settlement. International Brent crude futures were down 51 cents, or 0.9 percent, at $54.40 per barrel. Markets were roiled by a more than 3 percent crash of the U.S.-dollar against Japan’s yen overnight, and after U.S. tech giant Apple cut its sales forecast.

    Also read: Oil prices drop amid currency and stock market turmoil

    Share market on Wednesday: BSE Sensex on Wednesday ended the session falling more than 350 points and NSE Nifty plunged below the 10,900-mark on the selloff in metal and auto stocks on account of weak Asian markets. At the close of market hours, the Sensex was down 363.05 points or 1.00% at 35891.52, while the Nifty down 117.60 points or 1.08% at 10792.50. Disappointing Chinese economic data and weak auto sales number played out as dominant factors in triggering sell-offs in metal and auto stocks on domestic bourses.  Among the major gainers on BSE Sensex were Sun Pharma, TCS and Vedanta, M&M, Eicher Motors and JSW Steel emerged as top laggards.