Share market Highlights: Sensex ends 156 points lower; Nifty near 10,750; Jet Airways up 17%; DMart plunges

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Updated:Jan 14, 2019 5:01:33 pm

Share market Highlights: The stock markets made a mild recovery in the afternoon trade on Monday. Sensex ended 156.28 points lower at 35,853.56 while Nifty closed 57.35 points lower at 10,737.60. Jet Airways share price zoomed by more than 17% intra-day to Rs 297.

Share Market Movement, CPI, WPI, Reliance Industries, Infosys, Wipro, Industrial Production, IIP, NSE, BSE, Sensex, NiftyShare market Highlights: Jet Airways shares zoomed by more than 6.4% to intra-day high of Rs 270.

Share market Highlights: The stock markets made a mild recovery in the afternoon trade on Monday. Sensex ended 156.28 points lower at 35,853.56 while Nifty closed 57.35 points lower at 10,737.60. Jet Airways share price zoomed by more than 17% intra-day to Rs 297. D-mart shares ended 11% lower at Rs 1,395.75.

Asian shares turned down on Monday as China trade data started trickling in and as investors looked to key corporate earnings later in the week to take the pulse of a cooling global economy. Falling energy shares late on Friday jeopardized continuation of Wall Street’s five-session rally as investors looked ahead to earnings season, which will kick off with Citigroup, JPMorgan and other big banks this week. Underpinned by optimism over China-U.S. trade talks and expectations of a slow pace of interest rate hikes from the Federal Reserve, the stock market’s recent winning streak added 6 percent to the S&P 500 and left it up about 10 percent from the 20-month low it hit around Christmas. 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

15:48 (IST)14 Jan 2019
BSE Live: Sensex ends 156 points lower; Nifty near 10,750; Jet Airways up 17%; DMart plunges

The stock markets made a mild recovery in the afternoon trade on Monday. Sensex ended 156.28 points lower at 35,853.56 while Nifty closed 57.35 points lower at 10,737.60. Jet Airways share price zoomed by more than 17% intra-day to Rs 297. D-mart shares ended 11% lower at Rs 1,395.75. A look at live Sensex heatmap.

15:20 (IST)14 Jan 2019
IndusInd Bank issues clarification on media report of illegal outward foreign remattances

"We refer to the article appearing in Tol.com today headed "Ex-Manager of co-operative Society arrested for Rs 2,000 crores fraud" in which there is a mention of illegal outward foreign remittances being made through the Opera House branch of Induslnd Bank Ltd' to various accounts. We wish to clarify that these are 5-6year old cases (involving several banks), where the Bank. itself had proactively made the necessary regulatory reportings as far back as 2013-14 and had also filed subsequent Police Reports in co-ordination with, and under guidance from, the Enforcement Directorate in 2015. The Bank has no exposure in relation to these transactions, and has not suffered any loss on this account," IndusInd Bank said in a report. 

14:56 (IST)14 Jan 2019
Jet Airways share price zooms 12% on reports of resolution plan finalisation

Shares of India's major private sector carrier surged in trade on Monday morning, after media reports said that resolution plan is likely to be finalised after lenders’ meet this week. Jet Airways share price zoomed by more than 11.8% to Rs 283.30 on NSE. Promoter Naresh Goyal will step down from the board and give up majrity control in the firm, CNBC TV18 reported citing sources. Naresh Goyal's stake will come down between 20-25% post restructuring. The voting rights will be capped at 10%. According to the channel, Naresh Goyal's son Nivaan Goyal may replace him on the board. Further, the banks may raise equity capital as part of the restructuring plan, CNBC TV18 added, citing sources as saying.

14:42 (IST)14 Jan 2019
Potato prices up nearly 50% in December, and it is good news

WPI-based inflation fell to 8-month low in December falling to 3.80 per cent from 4.64 per cent in November amid decline in fuel and food items, government data released Monday showed. Even as potato prices rose with inflation at 48.68 per cent in December, it is still lower when compared with 86.45 per cent in November. Onion prices saw deflation of 63.83 per cent in December as against 47.60 per cent in previous month. The December WPI inflation is the lowest in 8 months. A number lower than this was last seen in April at 3.62 per cent. In November last year, WPI inflation stood at 4.64 per cent versus 3.58 per cent in December 2017. Inflation in pulses was recorded at 2.11 per cent, while in ‘egg, meat and fish’ it was 4.55 per cent.

Read more: Potato prices up nearly 50% in December, and it is good news

14:24 (IST)14 Jan 2019
Reality check: 10% quota for economically weaker section, but govt jobs vacancies shrinking, shows DoPT data

Steadily shrinking job vacancies in the central government, banks and central public sector enterprises (CPSEs) is a reality check to the 10% reservation, which was recently passed in the Parliament, for the economically disadvantaged section in the general category. According to data compiled by the Department of Personnel and Training (DoPT), there has been a decline in recruitment through the main agencies namely Union Public Service Commission (UPSC), Railway Recruitment Board (RRB), Staff Selection Commission (SSC).

Also read: Reality check: 10% quota for economically weaker section, but govt jobs vacancies shrinking, shows DoPT data

13:14 (IST)14 Jan 2019
BSE Live: Sensex still under pressure, down 250 points; Yes Bank shares extend rally

After opening lower -- Sensex and Nifty--extended losses in the afternoon trade on Monday, tracking mixed global cues. The Sensex is down nearly 250 points to 35,762.57, while the Nifty is trading above the 10,700-mark. Yes Bank shares gained by more than 5.8% to Rs 194.80 to emerge as the biggest gainer on the Sensex.  Jet Airways shares zoomed by more than 6.4% to intra-day high of Rs 270. A look at LIVE Sensex heatmap.

12:26 (IST)14 Jan 2019
Gold rises as expectations of Fed pause keeps lid on dollar

Gold prices rose on Monday as the dollar fell on expectations that the U.S. Federal Reserve will not raise rates this year and as Asian markets dropped after lacklustre China data reflected a slowdown in the world's second-largest economy. Gold tends to gain on expectations of lower interest rates, as they reduce the opportunity cost of holding a non-yielding bullion and trims the demand for U.S. dollar, making the yellow metal less expensive for holders in other currencies. Spot gold was up 0.3 percent at $1,291.42 per ounce, as of 0411 GMT. US gold futures were up 0.2 percent at $1,291.40 per ounce. (Reuters reported)

12:11 (IST)14 Jan 2019
Yes Bank shares up over 4% after appointment of Brahm Dutt as non–executive part-time Chairman

Shares of Yes Bank rallied up by 4.4% in the early trade Monday after the appointment of Brahm Dutt as non-executive part-time Chairman of the board. The shares of the private lender hit intraday high of Rs 192.45 in the morning. The stock is trading up 7.55, or 4.10 per cent at Rs 191.50. “The Reserve Bank of India, basis Brahm Dutt’s outstanding credentials and experience, has approved his appointment as part-time Chairman of the bank’s board up till July 4, 2020,” Yes Bank said in a regulatory filing. The board of directors in the last meeting held on January 9 finalised names of potential candidates for the position of MD and CEO to replace Rana Kapoor. An application was submitted by the board to the Reserve Bank of India (RBI) on January 10 seeking approval for the appointment of the new MD and CEO.

Also read: Yes Bank shares up over 4% after appointment of Brahm Dutt as non–executive part-time Chairman

11:46 (IST)14 Jan 2019
IndusInd Bank shares down 3%; among top Sensex losers

Shares of private sector lender IndusInd Bank tanked in trade on Monday morning to emerge among the top losers in Sensex. IndusInd Bank shares plunged by more than 2.9% to Rs 1,471.10 on BSE this morning. This has been the lowest since December 11, 2018. A look at live Sensex heatmap.

11:03 (IST)14 Jan 2019
Brokerages take on DMart shares

Taking stock of the reported earnings, six of 17 brokerages have rated the stock “buy” or higher, one “hold” and 10 brokerages “sell” or lower; their median price target is Rs 1,280. Citi said it has cut price target to Rs 1,190 from Rs 1,255, following the subdued trend with continuing disappointment. “Maintain sell at current valuations; incrementally more challenging store economics and long-term eCommerce impact are key issues,” it said. According to global brokerage firm Jefferies, the strong execution and focus on market share gains gives confidence on topline, while margin expansion will be slow. The trajectory of earnings growth may taper down, it feels. The firm has a share price target of Rs 1,420 on the stock.

10:41 (IST)14 Jan 2019
BSE Live: Sensex down 250 points, Nifty nears 10,700; D-mart plunges 9%; Yes Bank shares rally

After opening lower -- Sensex and Nifty--extended losses in the morning trade on Monday, tracking mixed global cues. The Sensex is down 250 points to 35,750.03, while the Nifty is trading near the 10,700-mark. Infosys shares gained by more than 3.7% to Rs 709, while D-mart shares plunged by more than 9.2% to Rs 1,422.50. Yes Bank shares gained by more than 4% to hit the day's high at Rs 192. A look at live Sensex Heatmap.

10:26 (IST)14 Jan 2019
Avenue Supermarts shares plunge 9% after tepid Q3 results

Shares of billionaire investor Radhakrishnan Damani-promoted Avenue Supermarts plunged in trade on Monday morning, after the firm reported tepid Q3 results. Avenue Supermarts Ltd, which owns supermarket chain D-Mart, plunged as much as 9.5% in the morning trade on Monday, to intra-day low of Rs 1422.15, their lowest since November 28. The company has reported 2.1%  rise in its Q3 net profit to Rs 257.1 crore against profit of Rs 251.8 crore in the same quarter last year. Its revenue increased by 33% to Rs 5,451 crore, as against Rs 4,093.9 crore. According to global brokerage firm Jefferies, the strong execution and focus on market share gains gives confidence on topline, while margin expansion will be slow. The trajectory of earnings growth may taper down, it feels. The firm has a share price target of Rs 1,420 on the stock.

10:07 (IST)14 Jan 2019
Rupee opens flat at 70.50 per US dollar ahead of key inflation data; 10-year govt bonds yields fall

After opening flat at 70.50 against the US dollar, the rupee was down about 6 paise to 70.54 per US dollar in the early morning trade on Monday from the previous close of 74.49 paise per US dollar. On Friday, the domestic currency fell by 8 paise to close the day at 70.49 paise, on the strong demand for the US currency from the exporters and also due to an increase in crude oil prices. At 9:45 AM (IST), the domestic unit was trading at 70.54 per US dollar, after touching an intraday low of 70.59 per US dollar and an intraday high of Rs 70.45 per US dollar, according to data available with the Bloomberg website. In the debt markets, the 10-year government bond yields were down at 7.246% from its Friday’s close of 7.247%. Bond yields and prices move in opposite directions.

Read more: Rupee opens flat at 70.50 per US dollar ahead of key inflation data; 10-year govt bonds yields fall

09:41 (IST)14 Jan 2019
Infosys share price rallies 4% after Q3 results

Shares of IT major Infosys gained in trade on Monday morning, after the firm reported Q3 results on Friday. Infosys shares gained by nearly 4% to hit the day's high at Rs 710.20. Infosys has approved a special dividend of Rs 4 per share, and also announced buyback under open market route of Rs 8,260 crore at a maximum price of Rs 800 per share. Infosys has reported net profit came 12% down on-year to Rs 3,609 crore, in the Oct-Dec quarter.  The total revenues came in 20.3% higher at Rs 21,400 crore. The firm has also approved a special dividend of Rs 4 per share. The firm also announced a buyback under open market route of Rs 8,260 crore at a Maximum price of Rs 800 per share. 

09:25 (IST)14 Jan 2019
BSE Live: Sensex down 120 points; Nifty above 10,800; Infosys up 4%; D-mart plunges 9%

The domestic stock markets-- Sensex and Nifty--opened mildly lower on Monday morning, tracking mixed global cues. The Sensex is down 126 points to 35,883.17, while the Nifty is trading above the 10,800-mark. Infosys shares gained by more than 3.7% to Rs 7o9, while D-mart shares plunged by more than 8.7% to Rs 1,433. A look at LIVE Sensex heat map.

09:13 (IST)14 Jan 2019
Giant falls: PG&E CEO Departs as utility giant at brink of bankruptcy

PG&E Corp. Chief Executive Officer Geisha Williams is leaving as California’s largest utility owner nears potential bankruptcy. The San Francisco-based company has begun a search for a new CEO following Williams’ departure, according to a statement issued Sunday. PG&E general counsel John Simon will take the helm in the meantime. Williams, 57, took over as CEO in March 2017 and is leaving after a catastrophic three months for PG&E. “I will be leaving PG&E,” Williams said in a separate email, without providing a reason for her departure. “I value the opportunity I’ve had to lead PG&E and wish all of my colleagues well.”

Read more: Giant falls: PG&E CEO Departs as utility giant at brink of bankruptcy

09:12 (IST)14 Jan 2019
Asian stocks trade mixed with earnings in focus: Markets wrap

Asian stocks were mixed on Monday, following the best week for regional stocks since the start of November, as investors awaited a raft of earnings and the January rally in risk assets showed signs of abating. The yuan edged lower after recent gains. Shares in Australia advanced, while South Korean stocks dipped and futures indicated a small decline when equity trading begins in Hong Kong. U.S. equity futures slipped after the S&P 500 on Friday closed flat and the yield on 10-year Treasuries declined. Japan is closed for a holiday, so Treasuries won’t trade until the London open.

Read full story here: Asian stocks trade mixed with earnings in focus: Markets wrap

09:10 (IST)14 Jan 2019
Recap: Wall Sreet's five-day rally stumbles ahead of earnings

Falling energy shares late on Friday jeopardized continuation of Wall Street's five-session rally as investors looked ahead to earnings season, which will kick off with Citigroup, JPMorgan and other big banks next week. Underpinned by optimism over China-U.S. trade talks and expectations of a slow pace of interest rate hikes from the Federal Reserve, the stock market's recent winning streak added 6 percent to the S&P 500 and left it up about 10 percent from the 20-month low it hit around Christmas. "We've clawed our way back and now the market is just waiting ahead of the start of earnings season next week," said Donald Selkin, Chief Market Strategist at Newbridge Securities in New York. "We're just drifting." (Reuters reported)

09:09 (IST)14 Jan 2019
BofAML advises investors to stay away from equities in 2019; here’s what global brokerage suggests

As the domestic stock markets may see a a double-digit fall, the global brokerage Bank of America Merrill Lynch (BofAML) advised the investors not to invest in equities in 2019, CNBC TV18 reported citing the foreign brokerage. Instead, the investors can park their money in bonds, Sanjay Mookim, the India equity strategist at the brokerage further told CNBC TV18. However, the markets may see correction ahead of upcoming general elections, he added.

Read more: BofAML advises investors to stay away from equities in 2019; here’s what global brokerage suggests

09:08 (IST)14 Jan 2019
Infosys Q3 results 2019: Firm announces dividend of Rs 4, share buyback of up to Rs 8,260 crore

India’s major IT behemoth Infosys has approved a special dividend of Rs 4 per share, and also announced buyback under open market route of Rs 8,260 crore at a maximum price of Rs 800 per share. Infosys has reported Q3 results below street estimates as net profit came in 12% down at Rs 3,609 crore, in the Oct-Dec quarter. Notably, the IT major is the second firm to report quarterly results in this quarter from the information technology pack, after India’s largest IT firm TCS reported Q3 results yesterday. The net profit implies a minor miss as compared to CNBC Tv18 poll of Rs 4,115 crore. The total revenues came in 20.3% higher at Rs 21,400 crore. 

Read full story here: Infosys Q3 results 2019: Firm announces dividend of Rs 4, share buyback of up to Rs 8,260 crore

09:07 (IST)14 Jan 2019
Stock markets: Here’s the approach investors can look at to enter markets in 2019

The new year brings with it a whole host of expectations and targets. We as a community have been preconditioned to pay heed to the positives while not paying too much attention to the intrinsic fundamental issues that persist in the market. This could be due to the positive impetus we receive from most of the new outlets we have on offer, which are financially motivated by the new money and fund inflows coming into the markets. Markets tend to get ahead of themselves ever so often, in the noise surrounding a plethora of analysts who always seem to fit retrospectively their opinions to what has happened in the markets.

Read full story here: Stock markets: Here’s the approach investors can look at to enter markets in 2019

Share market on Friday: The Sensex and Nifty made a recovery in the late afternoon trade on Friday, after extending losses for the bulk of the session. Sensex ended 96.66 points or 0.,27% down at 36,009.84, while the Nifty ended near the 10,800-mark. IndusInd Bank and Tata Motors shares emerged as the biggest losers in the Sensex, by slumping more than 3% each.
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