Share market highlights: Sensex ends 97 points down, Nifty near 10,800; IndusInd Bank, Tata Motors plunge

By: | Updated:Jan 11, 2019 5:00 pm

Share market highlights: 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.

Share market highlights: IndusInd Bank and Tata Motors shares emerged as the biggest losers in the Sensex, by slumping more than 3% each.

Share market highlights: 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.

Asian stocks inched higher to one-month highs on Friday, after Federal Reserve Chairman Jerome Powell reiterated the U.S. central bank can be patient on raising interest rates further. But the rally’s momentum slowed partly as investors sought more clarity on whether the United States and China could make headway on their talks on trade as well as intellectual property (IP) rights, Reuters reported.

Wall Street extended its rally into a fifth straight day on Thursday in a session of whipsaw trading as investors responded to mixed comments by Federal Reserve Chairman Jerome Powell, while a warning from Macy’s pummeled retail stocks, said the agency report. The street will closely watch guidance and management commentary. We bring to you LIVE updates.

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15:39 (IST)11 Jan 2019
BSE Live: Sensex ends 97 points down, Nifty near 10,800; IndusInd Bank, Tata Motors plunge

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. A look at Sensex live heatmap.

14:50 (IST)11 Jan 2019
Lessors to India's troubled Jet Airways consider taking back planes - report

Crisis talks between India's cash-strapped Jet Airways Ltd and aircraft lessors have failed to ease a row over late payments, prompting some lessors to explore taking back aircraft, three people familiar with the matter told Reuters. In what one of the people described as an ill-tempered showdown between the airline and some of the world's leading leasing firms, Jet's main lender State Bank of India sought to provide reassurance that India's biggest full-service carrier is doing all it can to pay its staff, suppliers and creditors. "Jet has been delinquent for many months. Nobody wants to get in a situation where the problems worsen and it becomes even more difficult to take out aircraft," one of the people said. (Reuters reported)

14:23 (IST)11 Jan 2019
BSE Live:Sensex down 250 points, Nifty below 10,750; IndusInd Bank, TCS shed up to 3%

The Sensex and Nifty are extending losses in the afternoon trade on Friday, due to a sell-off in the shares of IT and financials. Sensex is down more than 250 points to 35,853.26, while the Nifty is trading below the 10,750-mark. Tata Motors, TCS and IndusInd Bank are among the top losers in Sensex, shedding up to 3%. A look at live Sensex heatmap.

12:55 (IST)11 Jan 2019
BSE Live: Sensex extends losses, Nifty below 10,800; Tata Motors, TCS shares down

After turning choppy, Sensex and Nifty are extending losses in the afternoon trade on Friday. Sensex is down more than 180.69 points to 35,925.81, while the Nifty is trading below the 10,800-mark. Tata Motors share price slumped by more than 2.8% to Rs 180.50. TCS shares slumped by more than 2.5% to Rs 1,843.25, after the reported Q3 results in line with estimates yesterday. The two Tata Group stocks are among the top losers in Sensex. A look at Sensex heat-map.

12:42 (IST)11 Jan 2019
TCS appoints Daniel Hughes Callahan as Independent Director

India’s largest IT services company Tata Consultancy Services Friday said it has appointed Daniel Hughes Callahan as an Additional and Independent Director. Callahan has been appointed as an Additional and Independent Director for a period of five years with effect from January 10, 2019, TCS said in a statement. The appointment is based on the recommendations of the nomination and remuneration committee and is subject to approval of shareholders, it added. “It gives me great pleasure to welcome Don Callahan to our Board. Don’s depth in the financial services industry and extensive experience in overseeing global technology and business operations will greatly benefit TCS,” TCS Chairman N Chandrasekaran said.

Also read: TCS appoints Daniel Hughes Callahan as Independent Director

12:23 (IST)11 Jan 2019
GST Council meeting: Here is list of 5 key decisions taken by Modi govt

n the 32nd Good and Services Tax (GST) council meeting on Thursday, Finance Minister Arun Jaitley announced various measures including a big boost to small businesses and enterprises. In the meeting, the government raised the tax exemption threshold for over 20 lakh GST-registrant businesses to Rs 40 lakh from the current Rs 20 lakh. Here is a list of five key decision taken in the meeting. 1) Finance Minister Arun Jaitley announced to raise the exemption threshold under GST regime from Rs 20 lakh to Rs 40 lakh for small businesses. The GST council also raised the turnover limit under composition scheme from current Rs 1 crore to Rs 1.5 crore with effect from April 1. Jaitley, however, said that the states have been provided the option to choose between the two thresholds of Rs 40 lakh and Rs 20 lakh, and intimate about their decision within a week.

Read other 4 decisions here: GST Council meeting: Here is list of 5 key decisions taken by Modi govt

11:57 (IST)11 Jan 2019
BSE Live: ITC share price zooms 2% to 3-month high after CLSA retains buy call

Shares of FMCG conglomerate ITC rallied in trade on Friday morning to hit a 3-month high, after global brokeragew firm CLSA retained a buy call on the shares.  ITC share price zoomed by more than 1.8% to Rs 294.95 in the morning trade on Friday. The stock of the FMCG major was trading at its highest level since October 4, 2018. Global brokerage firm CLSA has retained buy call on the stock and raised price target to Rs 400 from Rs 390 earlier due to unchanged tobacco taxes. In the last 18 months, GST Council had more than 13 meetings but has not made any change in tobacco taxes, CLSA noted.  With elections now around the corner, further GST tax changes seem unlikely, according to the Hong-Kong based firm.

11:09 (IST)11 Jan 2019
BSE Live: Sensex turns choppy, Nifty near 10,800; TCS, L&T among top losers

After opening the session with mild gains, Sensex and Nifty turned choppy in the morning trade on Friday. The Sensex is down about 40 points to 36,066.80, while the Nifty is nearing the 10,800-mark.  TCS shares slumped by more than 1.7% to Rs 1,855.25, after the reported Q3 results in line with estimates yesterday. L&T shares are trading under pressure, down 1.5% to Rs 1,372.10. HCL Tech share price slumped by more than 1.1% to Rs 925.20 on NSE. A look at LIVE Sensex heatmap.

10:26 (IST)11 Jan 2019
TCS share price slumps 2.5% after Q3 results

Shares of India's largest IT firm TCS slumped in trade on Friday morning, after the firm reported a Q3 results, missing street estimates. TCS share price slumped by more than 2.5% to hit the day's low at Rs 1,840.10 on BSE. Yesterday, the IT behemoth reported a 24.1%  on-year increase in net profit to Rs 8,105 crore, in the Oct-Dec quarter. Notably, the IT behemoth is the first to report quarterly results in this quarter from the information technology pack. The net profit implies a minor miss as compared to CNBC TV18 poll of Rs 8,194 crore. The total revenues came in 20.8% higher at Rs 37,338 crore, on the back of robust BFSI and digital revenue growth. The firm has announced a dividend per share of Rs 4.00 in the latest quarter. The record date for the dividend is on 18/01/19; and the payment date for the same is 24/01/19.

09:56 (IST)11 Jan 2019
Rupee opens flat at 70.42 per US dollar; 10-year govt bond yields rise

The Indian rupee opened marginally higher on Friday at 70.42 per US dollar from the Thursday’s close 70.41 per US dollar, as crude oil prices fell coupled with the US currency softening a bit after comments by the US Federal Reserve Jerome Powell. The domestic currency opened at 70.41 per US dollar today and touched an intraday high of 70.35 per US dollar and an intraday low of  70.48 a dollar. At 09:20 AM, the domestic currency was trading at 70.48 a dollar, up about 8 paise from the previous close 70.408 per US dollar, according to data available on the Bloomberg website.  In debt markets, the 10-year government bonds yields went up by 0.8% to 7.59% from its previous close of 7.53%. Bond yields and prices move in opposite directions.

Read full story here: Rupee opens flat at 70.42 per US dollar; 10-year govt bond yields rise

09:29 (IST)11 Jan 2019
BSE Live: Sensex up 100 pts; Nifty nears 10,850; TCS, HCL Tech slump

The domestic stock markets--Sensex and Nifty-- opened higher on Friday tracking positive global cues. Sensex zoomed more than 103 points in the opening trade to 36,209.01, while the Nifty was trading near the 10,850-mark. TCS shares slumped by more than 1.7% to Rs 1,855.25, after the reported Q3 results in line with estimates yesterday. HCL Tech share price slumped by more than 1.1% to Rs 925.20 on NSE. Infosys shares were trading flat at Rs 681.25 ahead of the Q3 results scheduled to be announced later today. A look at live Sensex heat map.

09:12 (IST)11 Jan 2019
US dollar weaker versus peers on Fed Powell’s “patient” comments

The dollar held a soft tone versus its peers on Friday, on rising expectations the U.S. Federal Reserve may hit the pause button on monetary tightening if the economy slows this year. Fed Chairman Jerome Powell reiterated on Thursday the U.S. central bank has the ability to be patient on monetary policy given that inflation remains stable. Markets are now pricing in no further rate hikes by the Fed this year. Fed Vice Chair Richard Clarida also struck a dovish tone, further cementing the central bank’s willingness to remain patient on the issue of raising rates.

Also read: US dollar weaker versus peers on Fed Powell’s “patient” comments

09:08 (IST)11 Jan 2019
SBI inches closer to raise $1.4 billion via share sale; hires Kotak Mahindra Bank, others as bankers

State Bank of India, the country’s largest lender, has selected underwriters for an institutional share sale that could raise at least 100 billion rupees ($1.4 billion), people with knowledge of the matter said. The government-run lender picked Bank of America Corp., CLSA Ltd. and HSBC Holdings Plc to arrange the offering, according to the people, who asked not to be identified because the information is private. Kotak Mahindra Bank Ltd. and SBI Capital Markets Ltd. were also chosen to work on the deal, the people said.

Read full story here: SBI inches closer to raise $1.4 billion via share sale; hires Kotak Mahindra Bank, others as bankers

09:07 (IST)11 Jan 2019
Earning recap: TCS Q3 net profit rises 24.1% on-year to Rs 8,105 crore; key figures in a nutshell

India’s largest IT company, TCS has reported latest quarterly results in line with estimates, as net profit came in 24.1% higher on-year to Rs 8,105 crore, in the Oct-Dec quarter. Notably, the IT behemoth is the first to report quarterly results in this quarter from the information technology pack. The net profit implies a minor miss as compared to CNBC Tv18 poll of Rs 8,194 crore. The total revenues came in 20.8% higher at Rs 37,338 crore, on the back of robust BFSI and digital revenue growth. We bring to key figures in a nutshell.

Read full story here: TCS Q3 net profit rises 24.1% on-year to Rs 8,105 crore; key figures in a nutshell

09:05 (IST)11 Jan 2019
Oil prices dip as worries over economic slowdown return

Oil prices slipped on Friday as concerns over economic growth were rekindled after talks fell short of offering concrete steps to end the Sino-U.S. trade conflict, although OPEC-led production cuts bolstered sentiment in crude markets. Oil prices were also supported by comments from U.S. Federal Reserve Chairman Jerome Powell on Thursday that the central bank had the ability to be patient on monetary policy. International Brent crude futures were at $61.22 per barrel at 0139 GMT, down 46 cents, or 0.75 percent, from their last close. However, Brent remains on track for a second consecutive week of gains as it is up about 7 percent so far this week. (Reuters reported)

09:04 (IST)11 Jan 2019
Asian markets on course to end week on positive note

The upbeat tone that has characterised this week helped Asian markets to fresh gains on Friday, with Hong Kong on course for a sixth straight day of rises. Investors globally have been riding a wave of optimism since last week when the head of the Federal Reserve indicated it will likely slow its pace of interest rate hikes, while there were also signs that China and the US could eventually reach a trade deal. And the gains were not limited to equities, with oil rising about 20 per cent from 17-month lows at the end of December, while high-yielding currencies were being supported by a new-found demand for riskier assets. (AFP report)

09:04 (IST)11 Jan 2019
Wall Street shrugs off Macy's, rallies for fifth session

Wall Street extended its rally into a fifth straight day on Thursday in a session of whipsaw trading as investors responded to mixed comments by Federal Reserve Chairman Jerome Powell, while a warning from Macy's pummeled retail stocks. Powell reiterated the views of other policymakers that the Fed would be patient about interest rate hikes. But major stock indexes temporarily moved into negative territory after Powell said the bank's balance sheet would be "substantially smaller," and after he raised concerns about the size of U.S. debt. (Reuters reported)

Share market on Thursday: After opening the day with minor gains, Sensex and Nifty ended lower on Thursday. Sensex ended 106.41 points lower to 36,416.50, while the Nifty ended below that 10,850-mark. Kotak Mahindra Bank and IndusInd Bank shares emerged among the biggest losers in the Sensex. IndusInd Bank share lost nearly 3% intra-day to Rs 1,555 after the firm reported Q3 results yesterday. Kotak Mahindra Bank shares slumped by more than 1.7% to Rs 1,216.35.
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