Share Market highlights: Sensex ends 13 points higher, Nifty above 10,850; RIL, Kotak Mahindra Bank shares gain

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Updated:Jan 18, 2019 3:54:30 pm

Share Market highlights: The Sensex made a smart rebound in the afternoon trade on Friday, to recover losses and end in the green. Sensex ended 12.53 points higher at 36,386.61, while the Nifty closed above the 10,900-mark.

Stock Market Live Updates, Indian Stock markets, BSE, NSE, Stock treding, sensex, niftyShare Market highlights: Shares of Reliance Industries surged by more than 4.3% to close at Rs 1,182.95. (Image: Reuters)

Stock Market highlights: The Sensex made a smart rebound in the afternoon trade on Friday, to recover losses and end in the green. Sensex ended 12.53 points higher at 36,386.61, while the Nifty closed above the 10,900-mark. Shares of Reliance Industries surged by more than 4.3% to close at Rs 1,182.95. Kotak Mahindra Bank shares zoomed by more than 1.4% to Rs 1,237.35.

Asian stocks advanced on Friday as a report of progress in U.S.-China trade talks stirred hopes of a deal in their tariff dispute and supported risk sentiment. The Wall Street Journal reported on Thursday that U.S. Treasury Secretary Steven Mnuchin discussed lifting some or all tariffs imposed on Chinese imports and suggested offering a tariff rollback during trade discussions scheduled for Jan 30, Reuters reported. Back home, IT major Wipro is all set to report Q3 results today. We bring to you LIVE updates.

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15:47 (IST)18 Jan 2019
BSE live: Sensex ends 13 points higher, Nifty above 10,850; RIL, Kotak Mahindra Bank shares gain

The Sensex made a smart rebound in the afternoon trade on Friday, to recover losses and end in the green. Sensex ended 12.53 points higher at 36,386.61, while the Nifty closed above the 10,900-mark. Shares of Reliance Industries surged by more than 4.3% to close at Rs 1,182.95. Kotak Mahindra Bank shares zoomed by more than 1.4% to Rs 1,237.35. A look at live Sensex heatmap.

14:35 (IST)18 Jan 2019
India aims ‘Top 50’ rank next year in ease of doing business, says PM Narendra Modi

Prime Minister Narendra Modi Friday said India is aiming at being in the list of top 50 countries in ease of doing business by next year. The country’s ranking has jumped 75 places in the World Bank’s ease of doing business rankings, Modi said. India is now ranked 77th in the list. “I have asked my team to work harder so that India is in the ‘Top 50’ list in ease of doing business next year,” Modi said in his inaugural address at the 9th edition of the Vibrant Gujarat Summit here. Modi said his government is focused on removing the barriers which were preventing the country from achieving its potential and will continue with the pace of reforms and deregulation.

Also read: India aims ‘Top 50’ rank next year in ease of doing business, says PM Narendra Modi

14:01 (IST)18 Jan 2019
Reliance Industries shares extend gains after stellar Q3 results

Shares of billionaire Mukesh Ambani-led Reliance Industries extended gains in trade on Friday afternoon, after the firm reported strong Q3 results in the Oct-Dec quarter. Reliance Industries share price zoomed by more than 3.4% to Rs 1,173 after the firm became the first in Indian history to report a profit of Rs 10,000 crore. Reliance Industries Limited reported Q3 beating street estimates backed by robust performance of retail and telecom businesses.  The oil-retail-to-telecom conglomerate reported 8.8% rise in net profit to Rs 10,251 crore as against Rs 9,423 crore in the corresponding period of the previous year. Interestingly, Reliance Jio recorded a profit for the fourth time in a row in the country’s highly competitive telecom sector as billionaire Mukesh Ambani-backed telco clocked in a jump of 65 per cent in its net profit to Rs 831 crore during the December quarter as against Rs 681 crore in the corresponding period a year ago. 

Also read: Mukesh Ambani’s Jio posts profit for fourth quarter in row; customer base rises to 28 crore

12:57 (IST)18 Jan 2019
Budget 2019: Arun Jaitley hints at upcoming big-ticket announcements that can’t wait; 5 key things to note

Even though he rejected rumours that the upcoming interim budget could be fiscally expansionary, Finance Minister Arun Jaitley hinted that it may include include some big-ticket announcements that ‘can’t wait’. The government is making efforts to move on the path of fiscal prudence unless “an unusual situation arises”, he also said in his address to a gathering of industry leaders in Mumbai through video conference from New York on Thursday.

Also read: Budget 2019: Arun Jaitley hints at upcoming big-ticket announcements that can’t wait; 5 key things to note

12:32 (IST)18 Jan 2019
Mukesh Ambani says Jio is 5G ready, to double investments in Gujarat

"Reliance Jio is committed to make Gujarat the best digitally connected state in the world. Gujarat will remain on the forefront of digital connectivity for years to come," Mukesh Ambani said in an event. On the back of this world class and most affordable digital connectivity, Gujarat will become the No. 1  in nurturing startups, in financial technology, agriculture technology, health technology, and other critical areas that enhance the well-being of every citizen, he added. Mukesh Ambani also said that Jio and Reliance Retail will launch a unique e-commerce platform to empower and enrich 12 lakh small retailers, and shopkeepers in Gujarat. Taking the example of how Mahatma Gandhi led India against political colonisation, Mukesh Ambani called for a collective movement against data colonisation. Mukesh Ambani said that in the current times, data is the new oil, and it must be controlled by Indians and not by global corporates.

12:05 (IST)18 Jan 2019
Bharti Airtel, Vodafone Idea shares tank after robust Reliance Jio profits, management commentary

Shares of telecom majors Bharti Airtel as well  as Vodafone Idea plunged in trade on Friday moening, after billionaire Mukesh Ambani-led Reliance Jio reported quarterly profits for the fourth straight quarter in a row. Bharti Airtel share price plunged by more than 6.6% to Rs 310.10. Reliance Jio recorded a profit or the fourth time in a row in the country’s highly competitive telecom sector. The youngest telco clocked in a jump of 65% in its net profit to Rs 831 crore during the December quarter as against Rs 681 crore in the corresponding period a year ago. The robust performance is mainly on the back of a rise in customer base.

10:53 (IST)18 Jan 2019
BSE Live: Sensex erases gains, Nifty near 10,850; Sun Pharma shares plunge 12%

After opening marginally higher, the domestic stock markets --Sensex and Nifty-- turned choppy on Friday afternoon. Sensex is down about 120 points to 36,255.23, while the Nifty is trading near the 10,850-mark. Sun Pharma shares plunged more than 12% to Rs 375.14, after fresh whistle-blower complaints surfaced. A look at Sensex live heatmap.

10:36 (IST)18 Jan 2019
Adani to foray into petrochemicals in Mukesh Ambani’s backyard

Billionaire Gautam Adani-led Adani Group Thursday announced a partnership with German chemical giant BASF for a Rs 16,000-crore factory that will mark its foray into the petrochemicals sector which is currently dominated by Mukesh Ambani-run Reliance Industries. Adani Group and BASF will set up a chemical factory at Gujarat’s Mundra district, besides putting up wind and solar power plant at the site to meet the electricity requirement of the unit, the two companies said in a statement. BASF will hold a majority controlling stake in the new venture. It will, however, hold a minority interest in the power venture. Reliance is the market leader in the Indian petrochemical sector and this will be the first time that the two billionaires hailing from Gujarat will be in direct competition in any business.

Read more: Adani to foray into petrochemicals in Mukesh Ambani’s backyard

10:24 (IST)18 Jan 2019
RIL share price rallies after strong Q3 results

Shares of billionaire Mukesh Ambani-led Reliance Industries gained in trade on Friday morning, after the firm reported strong Q3 results in the Oct-Dec quarter. Reliance Industries share price zoomed by nearly 2% to Rs 1,157.10 after the firm became the first in Indian history to report a profit of Rs 10,000 crore. Reliance Industries Limited reported Q3 beating street estimates backed by robust performance of retail and telecom businesses.  The oil-retail-to-telecom conglomerate reported 8.8% rise in net profit to Rs 10,251 crore as against Rs 9,423 crore in the corresponding period of the previous year. The company’s revenue also increased by 55.9% to Rs 171,336 crore as against Rs 102,500 crore in the corresponding period of the previous year. 

10:07 (IST)18 Jan 2019
Rupee falls 20 paise to 70.23 per US dollar in early trade; 10-year govt bond yields rise

The Indian rupee fell as much as 20 paise in the early morning trade on Friday to 71.23 per US dollar from the previous close of 71.03 per US dollar, mainly on account of strong US currency and rise in crude oil prices. The domestic currency today opened 71.07 per US dollar, down 4 paise from the previous close of 71.03 per US dollar, data available with the Bloomberg website showed. At 9:35 AM (IST), the domestic currency was trading at 71.20 per US dollar, down 17 paise from the previous close of 71.03 per US dollar, after touching an intraday low of 71.23 per US dollar and an intraday high of 71.07 per US dollar, data showed. On Thursday, the domestic unit reversed its four-day losing streak by recovering 21 paise to close the day at 71.03 per US dollar.

Read more: Rupee falls 20 paise to 70.23 per US dollar in early trade; 10-year govt bond yields rise

09:52 (IST)18 Jan 2019
Sun Pharma share price plunges more than 12% after whistle blower compliants resurface

Shares of India's major pharma firm Sun Pharma Ltd extended losses in the morning trade on Friday, after reports of whistle blower complaints to SEBI resurfaced. Sun Pharma share price tanked by more than 12% to Rs 370.20 on BSE. The tumble in shares comes after Moneylife opened up whistleblower documents for institutional investors. According to a latest report by Moneylife magazine, between 2014 and 2017, Aditya Medisales (AML) had over Rs 5,800 crore of transactions with Suraksha Realty, controlled by Sun Pharma’s co-promoter, Sudhir Valia. This is according to a new 172-page complaint (with documents) sent by the whistleblower on Sun Pharma to the market regulator, Securities and Exchange Board of India (SEBI).

09:26 (IST)18 Jan 2019
BSE Live: Sensex up 50 points, Nifty above 10,900; RIL shares surge, Sun Pharma down 12%

The domestic stock markets --Sensex and Nifty--opened higher on Friday, tracking positive global cues. Sensex is up about 51 points to 36,425.16, while the Nifty is trading above the 10,900-mark. RIL shares gained by more than 2% to Rs 1,155.75. Sun Pharma shares are trading 12% lower at Rs 375.14. The oil-telecom conglomerate reported 8.8% rise in net profit to Rs 10,251 crore as against Rs 9,423 crore in the corresponding period of the previous year. A look at LIVE Sensex heatmap.

09:12 (IST)18 Jan 2019
Q3 Numbers: HUL net rises by 9% on volume growth

Hindustan Unilever (HUL) on Thursday reported a 9% year-on-year increase in its net profit at Rs 1,444 crore for the three months to December 2018. The numbers were marginally lower than the consensus estimates from Bloomberg, which projected the net profit for Q3FY19 at Rs 1,455.5 crore. The company had a tax write-back of Rs 510 crore during the quarter. The country’s largest fast-moving consumer goods firm reported revenue of Rs 9,558 crore, an increase of 11.3% y-o-y, which was higher than the consensus estimates of Rs 9,446.7 crore from Bloomberg. 

Read full story here:  HUL net rises by 9% on volume growth

09:10 (IST)18 Jan 2019
Wall Street shrugs off weak start to hold at one-month high

Wall Street's main indexes fought back from a weak start to hover near one-month highs on Thursday, as gains in healthcare and consumer discretionary stocks offset losses in the energy and financial sectors. U.S. stock futures were under pressure for most of the session and the market even opened lower due to disappointing earnings from Morgan Stanley and renewed concerns over the progress of Sino-U.S. trade talks. Morgan Stanley tumbled 6.3 percent after reporting a lower-than-expected quarterly profit as spikes in volatility in the end of the fourth quarter hurt trading. (Reuters reported)

09:08 (IST)18 Jan 2019
Asia stocks advance on U.S.-China trade relief

Asian stocks advanced on Friday as a report of progress in U.S.-China trade talks stirred hopes of a deal in their tariff dispute and supported risk sentiment.The Wall Street Journal reported on Thursday that U.S. Treasury Secretary Steven Mnuchin discussed lifting some or all tariffs imposed on Chinese imports and suggested offering a tariff rollback during trade discussions scheduled for Jan. 30. U.S. stocks rallied following the report, but pared some of those gains after a Treasury spokesperson told CNBC that Mnuchin had not made any such recommendations. WSJ also reported that U.S. Trade Representative Robert Lighthizer has resisted Mnuchin's idea. (Reuters reported)

09:07 (IST)18 Jan 2019
Mukesh Ambani’s Jio posts profit for fourth quarter in row; customer base rises to 28 crore

Reliance Jio recorded a profit for the fourth time in a row in the country’s highly competitive telecom sector as billionaire Mukesh Ambani-backed telco clocked in a jump of 65 per cent in its net profit to Rs 831 crore during the December quarter as against Rs 681 crore in the corresponding period a year ago. The robust performance is mainly on the back of a rise in customer base. While average revenue per user of Reliance Jio continued to decline, the impact seems to have mitigated with a sharp increase in customer base to 28 crore by the end of December, from 16 crore in the year-ago period.

Read more: Mukesh Ambani’s Jio posts profit for fourth quarter in row; customer base rises to 28 crore

09:05 (IST)18 Jan 2019
RIL Q3 net profit beats estimate: Here’s what Mukesh Ambani has to say

RIL Q3 results: Mukesh Ambani-controlled Reliance Industries Limited (RIL) reported Q3 beating street estimates backed by robust performance of retail and telecom businesses.  The oil-retail-to-telecom conglomerate reported 8.8% rise in net profit to Rs 10,251 crore as against Rs 9,423 crore in the corresponding period of the previous year. The company’s revenue also increased by 55.9% to Rs 171,336 crore as against Rs 102,500 crore in the corresponding period of the previous year.

Read more: RIL Q3 net profit beats estimate: Here’s what Mukesh Ambani has to say

 Share market on Thursday: 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.
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