Share market Highlights: Sensex ends 155 points higher, Nifty above 10,750; Tata Motors, Maruti Suzuki surge

By: | Updated:Jan 07, 2019 4:30 pm

Share market Highlights: After opening sharply higher, the domestic stock markets gave up gains in the afternoon trade on Monday. The Sensex closed 155 points higher to 35,850.16, while the Nifty closed above 10,750-level.

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: Tata Motors share price gained by more than 4.4% to hit the day’s high to Rs 178.30.

Share market Highlights: After opening sharply higher, the domestic stock markets gave up gains in the afternoon trade on Monday. The Sensex closed 155 points higher to 35,850.16, while the Nifty closed above 10,750-level. Tata Motors, Maruti Suzuki shares emerged among the top gainers in the Sensex. Tata Motors share price gained by more than 4.4% to hit the day’s high to Rs 178.30. Maruti Suzuki share price ended 1.76% higher at Rs 7,356.10 on the BSE.

Earlier, the domestic stock markets Sensex and Nifty rallied on Monday morning, buoyed by a host of global factors including Federal Reserve Chairman Jerome Powell’s statement that the central bank would be patient and flexible in steering the course of interest rates.

Stocks across Asia kicked off the week with strong gains after soothing Federal Reserve comments and an easing of monetary policy in China triggered a renewed appetite for risk assets. Treasuries steadied after Friday’s slide and oil extended its recent rebound, Reuters reported. Wall Street rebounded on Friday to close at its highest in two weeks after a strong jobs report and assurances from Federal Reserve Chairman Jerome Powell that the central bank would be patient and flexible in steering the course of interest rates. We bring to you LIVE updates.

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15:44 (IST)07 Jan 2019
BSE Live: Sensex ends 155 points higher, Nifty above 10,750; Tata Motors, Maruti Suzuki surge

After opening shrply higher, the domestic stock markets gave up gains in the afternoon trade on Monday. The Sensex closed 155 points higher to 35,850.16, while the Nifty closed above 10,750-level. Tata Motors, Maruti Suzuki shares emerged among the top gainers in the Sensex. Tata Motors share price gained by more than 4.4% to hit the day's high to Rs 178.30. Maruti Suzuki share price ended 1.76% higher at Rs 7,356.10 on the BSE. A look at Sensex heatmap.

15:29 (IST)07 Jan 2019
R Comm says have got 4 weeks from Supreme Court to file response for contempt petition by Ericsson

From RCom's exchange filing-

The Hon’ble Supreme Court has given 4 weeks’ time to file its response to the contempt petition filed by Ericsson. Thereafter, Ericsson has been given one week’s time to file its rejoinder. The matter will be taken up for hearing thereafter.  RCOM has deposited a partial payment of Rs 131 crore to Ericsson from the operational funds available with the Company. RCOM has taken all required steps towards enabling the settlement and remains fully committed to make the payment to Ericsson from the proceeds of the Spectrum sale.

15:01 (IST)07 Jan 2019
Lupin gets USFDA nod for generic schizophrenia drug

Drug maker Lupin Monday said it has received approval from the US health regulator to market Lurasidone Hydrochloride tablets, used in the treatment of schizophrenia, in the American market. The company said it has received approval from the US Food and Drug Administration (FDA) to market its product, which is a generic version of Sunovion Pharmaceuticals Inc's Latuda tablets, in strengths of 20 mg, 40 mg, 60 mg, 80 mg and 120 mg, Lupin said in a regulatory filing. (PTI reported)

14:36 (IST)07 Jan 2019
Essar Global repays Rs 6,300 crore to ICICI Bank, Axis Bank and Standard Chartered Bank

Notably, Essar Group has now repaid Axis Bank, ICICI Bank and Standard Chartered their entire facility of Rs 31,500 crore, which the firm took for its capital expenditure programme in 2008-14. "Essar Global has now repaid approximately Rs 6,300 crore to ICICI Bank, Axis Bank and Standard Chartered Bank. With this, these banks have been repaid their entire facility of Rs 31,500 crore, which they had provided to Essar Global to fund its capital expenditure programme in 2008-14. The only continuing lender to Essar Global is now VTB, which has been working with Essar Global over the past three years to monetise certain assets, strategically lighten the balance sheet, deleverage the group and reposition it for growth in the future," the firm said in the release. 

14:32 (IST)07 Jan 2019
Essar Global repays all debt to Indian and foreign lenders

In a major development, Essar Global Fund Ltd (Essar Global), the holding company of the Essar Group of companies has repaid the last tranche of debt of Rs 12,000 crore (US$1.75 billion) to its various Indian and foreign lenders. "This is in addition to the Rs 30,000 crore (US$5 billion) repayment made in August 2017 to various lenders from the proceeds of the Essar Oil monetisation. Over the past two years Essar Group has repaid more than Rs 1,37,000 crore (US$21 billion) of debt (including Essar Steel), majority of which is to the Indian banking system. This is more than 80% of its group debt," Essar Global said in a release.

14:04 (IST)07 Jan 2019
Securities transaction tax needs to be scrapped; 2019 may offer positive returns, says Nithin Kamath, Zerodha

As stock markets remained volatile in previous year, the investors currently are a bit sceptical on how 2019 would fare especially considering the upcoming union budget and general elections. Even though it’s hard to foretell exact target for the domestic bourses going ahead, the year is expected to offer positive returns, says Nithin Kamath. The markets are mainly looking for a stable government more than anything else and the investors are advised to park their money systematically into diversified equity mutual funds, Nithin Kamath, Founder & CEO, Zerodha told FE Online.

Also read: Securities transaction tax needs to be scrapped; 2019 may offer positive returns, says Nithin Kamath, Zerodha

12:58 (IST)07 Jan 2019
BSE Live: Sensex up 262 points to 35,957.22, Nifty above 10,800; Axis Bank, Tata Motors among top gainers

After rallying on Monday morning tracking positive global cues, the Sensex and Nifty continue to hold gains. The Sensex is up about 251 points to 35,946.14, while the Nifty is trading above the 10,800-level. Tata Motors share price gained by more than 4.4% to hit the day's high to Rs 178.30. A look at live Sensex heatmap.

12:41 (IST)07 Jan 2019
One crore jobs lost in 2018: Unemployment rate hits 27-month high in December, says CMIE; key things to know

In bad news for labour market in India, the estimated unemployment rate rose to a 27-month high of 7.38% in the month of December 2018 and the total number of people employed fell by about 1.09 crore, according to CMIE data. In December 2017, a total of 40.78 crore people were employed, while in the month of December 2018 the number fell to 39.69 crores, the Centre for Monitoring Indian Economy (CMIE) data showed. The unemployment rate in December 2018 rose to 7.38% from 6.62% in November 2018 and 4.78% in December 2017, highest since September 2016 when it stood at a high of 8.46%. Alongside the increase in the unemployment rate, there has also been a decline in the labour participation rate (LPR), the data noted. Of the total 1.09 crore jobs in the last 12-month period, about 83% or 91.4 lakh jobs were lost in rural areas.

Read full story here: One crore jobs lost in 2018: Unemployment rate hits 27-month high in December, says CMIE; key things to know

12:16 (IST)07 Jan 2019
Supreme Court seeks response from Anil Ambani on Ericsson's contempt petition

The Supreme Court on Monday issued notice to Reliance Communication (RCom) Chairman Anil Dhirubhai Ambani and others on a contempt petition filed by Ericsson India over non-payment of its dues. A bench headed by Justice R F Nariman sought a response from Ambani and others in four weeks. Appearing for R Com, senior Advocates Kapil Sibal and Mukul Rohatgi  asked the court to accept Rs 118 crore towards outstanding dues to Ericsson India to establish its bonafide.  The counsel appearing for Ericsson, however, refused to accept the amount and said the entire outstanding sum of Rs 550 crore should be deposited.  The bench then directed R Com to deposit a demand draft of Rs 118 crore in the registry. (PTI reported)

12:00 (IST)07 Jan 2019
BSE Live: Sensex off day's high, Nifty below 10,800: Global factors behind today's rally

The Sensex is now off morning highs, but still hoding on to majority of gains. The 3--share Sensex is up 261 points to 35,956.11, while the Nifty is trading below the 10,800-level. The domestic stock markets Sensex and Nifty rallied on Monday morning, buoyed by a host of global factors including Federal Reserve Chairman Jerome Powell’s statement that the central bank would be patient and flexible in steering the course of interest rates.  “With the muted inflation readings that we’ve seen, we will be patient as we watch to see how the economy evolves,” Jerome Powell said on Friday, on a panel with his predecessors Janet Yellen and Ben Bernanke at the American Economic Association’s annual meeting in Atlanta.

Read full story here: Sensex zooms 380 points, Nifty above 10,800: Three key global factors behind stock market rally

11:24 (IST)07 Jan 2019
BSE Live: Sensex holds gains, Nifty above 10,800; Tata Motors, Axis Bank zoom

After opening higher on Monday, tracking positive global cues, the Sensex and Nifty are holding on to gains. The Sensex is up about 327 points to 36,022.70, while the Nifty 50 is trading above the 10,800-mark. Asian markets rallied Monday after a blockbuster performance on Wall Street as US jobs data beat forecasts and the head of the Federal Reserve hinted at a slower pace of interest rate hikes. In the Sensex, shares of Tata Motors and Axis Bank have emerged among the top gainers in the hour. A look at Sensex heat map.

10:45 (IST)07 Jan 2019
Banking services may get disrupted as employees unions call for 2-day strike; all you need to know

Banking services are expected to get disrupted for two-days – January 8-9 – across the country as a section of state-run employees have opted to strike in support of the nation-wide strike call announced by major trade unions against the Narendra Modi-led government. The 10 trade unions, which have called for the nation-wide strike against ‘anti-people’ policies by the government, are INTUC, AITUC, HMS, CITU, AIUTUC, AICCTU, UTUC, TUCC, LPF and SEWA. In a filing to the BSE, IDBI said that the Bank Employees Federation of India and the All India Bank Employees Association (AIBEA) have informed Indian Banks’ Association (IBA) of the two-day nationwide strike on January 8-9, 2019. In a separate filing, Allahabad Bank said that the demands and issues are of industry level and strike call is also given at industry level.

Also read: Banking services may get disrupted as employees unions call for 2-day strike; all you need to know

10:29 (IST)07 Jan 2019
IndusInd Bank shares gain 4% ahead of Q3 results on Wednesday

Shares of private sector lender IndusInd Bank rallied on Monday morning, ahead of the firm's Q3 results slated to be announced on January 9th. IndusInd Bank share price gained by nearly 4% in the morning trde of Rs 1,609.40 on the BSE. The shares gained amid a larger rally in the Sensex, buoyed by gains in Asian markets this morning. IndusInd Bank shares are now the biggest gainer in the Sensex.

10:02 (IST)07 Jan 2019
Rupee hits 5-month high; up 38 paise to 69.35 per US dollar in early morning trade

The Indian rupee jumped as much as 38 paise in the early morning trade against the US dollar on Monday, touching a five-month high, mainly on account of selling of the dollar by exporters and banks amid gains in domestic equities. The domestic unit opened higher by about 30 paise at 69.42 per US dollar from the Friday’s close 69.72 per US dollar. The rupee had appreciated by 48 paise to close at 69.72 against the US dollar on Friday, ahead of the important non-farm payrolls number released later in the day. The US economy witnessed a job addition of 3,12,000 in the month of December compared to 1,76,000 in the previous month.

Read full story here: Rupee hits 5-month high; up 38 paise to 69.35 per US dollar in early morning trade

09:39 (IST)07 Jan 2019
Titan shares rally 4% after robust jewellery sales growth

Shares of jewellery-maker Titan rallied in trade on Monday morning, after the firm said that good growth momentum is seen across all its businesses in seasonally strong third quarter. Titan shares gained by more than 3.8% to Rs 964 on BSE this morning.  For its jewellery division, strong same sales growth continues to occur. The expected growth for full year stands at 22% and the customer demand remained buoyant in the festive season, noted the firm. The Watches segment will have a subdued EBIT margins due to higher advertising spends.

09:24 (IST)07 Jan 2019
BSE Live: Sensex up 320 points, Nifty above 10,800; Yes Bank, Titan shares rally

The domestic stock markets--Sensex and Nifty-- opened higher on Monday, tracking positive global cues. The Sensex is up about 300 points to 35,995.34, while the Nifty is trading above the 10,800-level. Titan shares rallied more than 3% to Rs 964 on BSE, after the firm said that it expects the full year growth in jewellery business to be around 22%; with significantly higher spends on advertising. Shares of private sector lender Yes Bank surged more than 3% to Rs 194.40, emerging as the top gainer in the Sensex. A look at LIVE heatmap.

09:11 (IST)07 Jan 2019
US dollar weak on Powell views; China easing, trade optimism lift Aussie dollar

The dollar weakened against its peers on Monday, as investors wagered that the Federal Reserve would put its policy tightening on pause in 2019, which eased market concerns about a slowing for U.S. growth. Risk appetites were broadly strong in early Asian trade, thanks to China’s aggressive monetary easing on Friday to address a sharp economic slowdown and hopes that Washington and Beijing can strike a comprehensive trade deal. The yen relinquished initial gains while the euro advanced 0.14 percent versus the dollar in early Asian trade. The Australian dollar, often considered a barometer of global risk appetite, rose 0.1 pct.

Read full story here: US dollar weak on Powell views; China easing, trade optimism lift Aussie dollar

09:10 (IST)07 Jan 2019
Wall Street rebounds on robust jobs report, dovish Powell remarks

Wall Street rebounded on Friday to close at its highest in two weeks after a strong jobs report and assurances from Federal Reserve Chairman Jerome Powell that the central bank would be patient and flexible in steering the course of interest rates. In a session emblematic of the elevated volatility that has gripped markets for weeks, all three major U.S. stock indexes surged more than 3 percent in one of the broadest advances in years. (Reuters reported)

09:06 (IST)07 Jan 2019
Asia stocks rise on Fed, China policy boost

Stocks across Asia kicked off the week with strong gains after soothing Federal Reserve comments and an easing of monetary policy in China triggered a renewed appetite for risk assets. Treasuries steadied after Friday’s slide and oil extended its recent rebound. Shares in Japan, South Korea and Australia gained and futures pointed to advances for equities in China and Hong Kong. U.S. futures climbed, signaling Friday’s rally in U.S. stocks could continue. Federal Reserve Chairman Jerome Powell said policy is flexible and officials are “listening carefully” to financial markets, while the People’s Bank of China cut the required reserves for banks. Australian bond yields surged after the yield on 10-year Treasuries soared back to 2.67 percent on Friday. Sentiment may also be helped as the U.S. and China reopen trade talks.

Also read: Asia stocks rise on Fed, China policy boost

09:04 (IST)07 Jan 2019
Crude oil rises on trade talks and supply cuts, but economic slowdown looms

Oil prices rose by more than 1 percent on Monday, lifted by optimism that talks could soon resolve the trade war between the United States and China, while supply cuts by major producers also supported the market. Brent crude futures were at $57.77 per barrel at 0227 GMT, up 71 cents, or 1.2 percent, from their last close. U.S. West Texas Intermediate (WTI) crude oil futures were at $48.65 per barrel, up 69 cents, or 1.4 percent.

Read full story here: Crude oil rises on trade talks and supply cuts, but economic slowdown looms

09:03 (IST)07 Jan 2019
Wall Street week ahead: Fund managers hoping for stock rally look to emerging markets

After emerging market stocks led global equity markets lower in a brutal 2018, some U.S.-based fund managers are betting that the asset class may have the largest rebound in the new year. It may not look likely at the moment, given that an economic downturn in China prompted iPhone-maker Apple Inc to lower its quarterly revenue forecast on Wednesday for the first time in a decade. Its shares slumped nearly 10 percent after Chief Executive Tim Cook blamed the U.S.-China trade war and “economic deceleration,” prompting broad selloffs around the world the following day.

Read full story here: Wall Street week ahead: Fund managers hoping for stock rally look to emerging markets

Share market on Friday: The domestic stock markets ended higher, after the Sensex and Nifty saw a highly volatile session on Friday. The Sensex ended 181.39 points higher to 35,695.10, while the broader Nifty ended above the 10,700-mark. Yes Bank shares ended 3.34% higher at Rs 190.05. Bharti Airtel share prices gained by more than 2.8% to close at Rs 322. The rally in the index was mainly led by financials and auto stocks. Financial markets were on edge on Friday as weak U.S. economic data added to fears of a global slowdown and pushed investors to bet the Federal Reserve could reverse policy and start cutting interest rates before the end of this year, Reuters reported.
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