Share Market Highlights: Sensex ends 169 points down, Nifty below 10,800; Maruti Suzuki shares plunge 8%

By: | Updated:Jan 25, 2019 4:39 pm

Track Share Market Highlights: After opening higher, the domestic stock markets --Sensex and Nifty--turned choppy in the late afternoon trade on Friday. The Sensex closed 169.56 points down at 36,025.54, while the Nifty closed the 10,800-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 LiveStock Market Highlights: Yes Bank shares are trading 4% higher at Rs 224.50, after the firm appointed Deutsche Bank’s Ravneet Singh Gill as its new CEO.

Stock Market Highlights: After opening higher, the domestic stock markets –Sensex and Nifty–turned choppy in the late afternoon trade on Friday. The Sensex closed 169.56 points down at 36,025.54, while the Nifty closed the 10,800-mark. Maruti Suzuki share price plunged by more than 8% to Rs 6,465, to emerge as the biggest loser in the BSE. ICICI Bank shares ended nearly 1.7% lower after the CBI registered an FIR against former CEO and MD Chanda Kochhar, her husband Deepak Kochhar and Videocon group MD Venugopal Dhoot in relation to a loan case.   Yes Bank shares closed higher after the firm appointed Deutsche Bank’s Ravneet Singh Gill as its new CEO. Ravneet Gill will join on or before March 1, 2019, the private lender said in a regulatory filing.

Asian stocks inched higher on Friday, buoyed by gains in U.S. technology shares, but gains were capped by worries over slowing growth in Europe and caution ahead of several key events next week including U.S.-China trade talks. The euro struggled near a six-week low versus the dollar following dovish-sounding comments from European Central Bank President Mario Draghi, who expressed concerns about the euro zone economy. We bring to you live updates.

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16:02 (IST)25 Jan 2019
Dish TV, Zee Entertainment shares plunge up to 33% after reports of Essel Group's name emerging in probe

Shares of Dish TV and Zee Entertainment plunged in trade on Friday afternoon, after reports that Essel Group's name has emerged in a demonetisation reltated probe by SFIO. Dish TV shares closed 32.74% lower at Rs 22.60, while Zee Entertainment shares closed 26% lower at Rs 319.35. According to a media report, the Serious Fraud Investigation Office (SFIO) is currently probing a a company called Nityank Infrapower (formerly Dreamline Manpower), for deposits of over Rs 3,000 crore made just after demonetisation (November – December 2016). Media firm 'The Wire' reported that its examination of publicly available documents show Nityank and a group of shell firms carried out financial transactions that involved a few firms associated with the Essel Group of Subhash Chandra between 2015 and 2017. In an interview to ET Now, Jawahar Goel, CMD of Dish TV  said that Essel Group has nothing to do with DeMo-related probe. The distributors deposited money in our accounts, which were reported to I-T department, he added.

15:40 (IST)25 Jan 2019
BSE Live: Sensex ends 169 points down, Nifty below 10,800; Maruti Suzuki shares plunge 8%

After opening higher, the domestic stock markets --Sensex and Nifty--turned choppy in the late afternoon trade on Friday. The Sensex closed 169.56 points down at 36,025.54, while the Nifty closed the 10,800-mark. Maruti Suzuki share price plunged by more than 8% to Rs 6,465, to emerge as the biggest loser in the BSE. A look at Sensex heatmap at close.

15:18 (IST)25 Jan 2019
Cheap smartphones are passe; Indians now looking for mid-end phones above Rs 10,000

More and more Indians are now looking for and buying higher-priced smartphones, with the interest falling in sub-Rs 10,000 phones while rising in Rs 10,000-20,000 handsets, a report said. This is evident from the decline in user searches for phones below Rs 10,000 to 23 per cent in fourth quarter of 2018, compared with 34 per cent Q1 2018, a report by gadget search site 91mobiles.com said. On the other hand, user searches for smartphones priced between Rs 10,000 and Rs 20,000 rose to 57 per cent in the fourth quarter compared to 49 per cent in the first quarter. The study also points out that the demand for smartphones above Rs 20,000 remained constant during the same period.

Also read: Cheap smartphones are passe; Indians now looking for mid-end phones above Rs 10,000

14:56 (IST)25 Jan 2019
Maruti Suzuki share price plunges 9% after tepid Q3 results

Shares of India's largest automaker Maruti Suzuki plunged in trade on Friday afternoon, after the firm reported results below estimates. Maruti Suzuki share price plunged by more than 8.7% to Rs 6,420. The firm has reported a 17.2% on-year decline in Q3 net profit to Rs 1,489 crore.  The Company sold a total of 428,643 vehicles during the quarter, a decline of 0.6% over the same period the The Company sold a total of 428,643 vehicles during the quarter, a decline of 0.6% over the same period the previous year. 'The results of this quarter have to be viewed in the context of particularly weak market conditions. While SIAM had forecasted a passenger vehicle domestic market growth of 8~10% for the year, Industry could grow by 4.4% in the first 3 quarters of the year and declined in the third quarter by 0.8%," Maruti Suzuki said in a press release.

14:28 (IST)25 Jan 2019
BSE Live: Sensex turns choppy, Nifty below 10,850; ICICI Bank, Asian Paints among top losers

The domestic stock markets --Sensex and Nifty--turned choppy in the late afternoon trade on Friday, after opening higher this morning. The Sensex is down 118 points to 36,108.68, while the Nifty is trading below the 10,850-mark. ICICI Bank shares emerged among top losers, shedding nearly 1.7% after the CBI registered an FIR against former CEO and MD Chanda Kochhar, her husband Deepak Kochhar and Videocon group MD Venugopal Dhoot in relation to a loan case. Asian Paints shares are trading nearly 3% down at Rs 1364.  Yes Bank shares are trading 4% higher at Rs 224.50, after the firm appointed Deutsche Bank's Ravneet Singh Gill as its new CEO. A look at live Sensex heatmap.

12:56 (IST)25 Jan 2019
US asks India to protect Walmart, Amazon investments; seek concessions citing ‘good relations’

The United States government is concerned about India’s revised e-commerce regulations and has told officials in New Delhi the policy will hinder the Indian investment plans of Amazon.com and Walmart Inc, three sources familiar with the talks told Reuters. The tussle marks the latest in a number of U.S. protests over Indian government policies which impact American companies and comes at a time when the two countries are trying to iron out other trade irritants. In 2017, the U.S. lodged a written protest against India’s decision to cap medical device prices, which upset American companies. India’s e-commerce investment rules, which kick in from February 1, ban companies from selling products via firms in which they have an equity interest and also bar them from making deals with sellers to sell exclusively on their platforms.

Also read: US asks India to protect Walmart, Amazon investments; seek concessions citing ‘good relations’

12:45 (IST)25 Jan 2019
BSE Live: Sensex holds gains, Nifty below 10,900; Yes Bank, Bharti Airtel among top gainers

The domestic stock markets --Sensex and Nifty--are holding on to gains in the afternoon, after opening higher on Friday morning. The Sensex is up about 185 points to 36,380.45, while the Nifty is trading below the 10,900-mark. Yes Bank shares are trading 7% higher at Rs 228.85, after the firm appointed Deutsche Bank's Ravneet Singh Gill as its new CEO. Ravneet Gill will join on or before March 1, 2019, the private lender said in a regulatory filing. Sun Pharma shares gained more than 1.5% to Rs 429.75. Bharti Airtel shares are trading more than 2.6% higher at Rs 309.65. A look at Sensex live heatmap.

12:15 (IST)25 Jan 2019
ICICI Bank shares extend losses after CBI registers FIR in Videcon loan case; key things to know

Shares of India’s largest private sector lender ICICI Bank extended losses on Friday, a day after the CBI registered an FIR against former CEO and MD Chanda Kochhar, her husband Deepak Kochhar and Videocon group MD Venugopal Dhoot in relation to a loan case. ICICI Bank shares slumped by nearly 1.8% to Rs 358.50, to emerge among the biggest losers in Sensex. In a major development, CBI registered a case against ICICI Bank’s former MD & CEO Chanda Kochhar in the high-profile Videocon loan case, which led to her unceremonial exit from the bank amid allegations of impropriety in giving a loan to a company related to her husband’s business. Videocon promoter Venugopal Dhoot allegedly invested crores of rupees in Nupower, months after the Videocon group got Rs 3,250 crore as loan from the ICICI Bank in 2012.

Also read: ICICI Bank shares extend losses after CBI registers FIR in Videcon loan case; key things to know

10:59 (IST)25 Jan 2019
Yes Bank shares jump 14% after appointment of new CEO Ravneet Gill; what brokerages say

Yes Bank on Thursday said that it has received RBI’s approval to appoint Ravneet Gill of Deutsche Bank India as MD & CEO to replace Rana Kapoor. Ravneet Singh Gill will join on or before March 1, 2019, the private lender said in a regulatory filing. “The Bank has received RBI approval for its new MD & CEO, Mr. Ravneet Singh Gill for him to join on or before March 1, 2019,” Yes Bank said in its filing to the BSE. In its earnings for the quarter ending December, Yes Bank has posted 7 per cent fall with a net profit at Rs 1,001 crore against Rs 1,076.8 crore in the same quarter last fiscal, the lender told exchanges. The gross NPA was at 2.10 per cent against 1.60 per cent, while net NPA at 1.18 per cent versus 0.86 per cent, QoQ.

Read more: Yes Bank shares jump 14% after appointment of new CEO Ravneet Gill; what brokerages say

10:30 (IST)25 Jan 2019
Rupee rises 10 paise against US dollar in early trade

Continuing its upward journey for a third straight day, the rupee strengthened by another 10 paise to 70.97 against the US dollar at the interbank forex market Friday on increased selling of the American currency by exporters and banks. Dealers said dollar's weakness against some currencies overseas and early gains in domestic equity market supported the rupee. On Thursday, the rupee had gained 26 paise to end at 71.07 against the US dollar as gains in domestic equities bolstered forex market sentiments. (From PTI)

09:50 (IST)25 Jan 2019
Google vs Amazon: Sundar Pichai-led firm suffers blow as Walmart withdraws

Walmart Inc. has quietly withdrawn from one of Google’s marquee efforts to challenge Amazon.com Inc. in e-commerce. Walmart removed its products from Google’s Shopping Actions service, the internet giant said on Thursday. The retailer also recently dropped out of Google Express, a related delivery service. In March, Google unveiled Shopping Actions, which lets consumers more easily buy goods from retailers through the company’s search engine, digital assistant and Express delivery. The service launched with Walmart and Target Corp. as flagship partners, an alliance that showed the retail stalwarts attempting to curb Amazon’s expansion. Google takes a commission on sales from partners.

Also read: Google vs Amazon: Sundar Pichai-led firm suffers blow as Walmart withdraws

09:29 (IST)25 Jan 2019
BSE Live: Share Market Live: Sensex up 250 points, Nifty above 10,900; Yes Bank jumps 10%; Sun Pharma up 1.5%

The domestic stock markets --Sensex and Nifty--opened higher on Friday, tracking positive global cues. The Sensex is up about 260 points to 36,455.60, while the Nifty is trading above the 10,900-mark. Yes Bank shares gained more than 10.3% to Rs 235.35, after the firm named Ravneet Gill of Deutsche Bank India as MD & CEO to replace Rana Kapoor. Ravneet Singh Gill will join on or before March 1, 2019, the private lender said in a regulatory filing. Sun Pharma shares gained more than 1.5% to Rs 429.75. A look at live Sensex heatmap.

09:15 (IST)25 Jan 2019
US shutdown: New talks mark first hint of break in impasse

Senators began a new effort to end the 34-day partial government shutdown after blocking two rival spending bills. The White House signaled President Donald Trump was open to a plan to reopen agencies for three weeks, but at a price. “The three-week CR would only work if there is a large down payment on the wall,” White House spokeswoman Sarah Huckabee Sanders said Thursday, referring to a stopgap spending bill and the president’s demand for $5.7 billion for a wall at the southern border. Senate Majority Leader Mitch McConnell and Minority Leader Chuck Schumer met privately in McConnell’s office to discuss a path forward, and Schumer came out later, smiling. “We’re talking, we’re talking,” he said.

Read full story here: US shutdown: New talks mark first hint of break in impasse

09:14 (IST)25 Jan 2019
US shutdown: New talks mark first hint of break in impasse

Senators began a new effort to end the 34-day partial government shutdown after blocking two rival spending bills. The White House signaled President Donald Trump was open to a plan to reopen agencies for three weeks, but at a price. “The three-week CR would only work if there is a large down payment on the wall,” White House spokeswoman Sarah Huckabee Sanders said Thursday, referring to a stopgap spending bill and the president’s demand for $5.7 billion for a wall at the southern border. Senate Majority Leader Mitch McConnell and Minority Leader Chuck Schumer met privately in McConnell’s office to discuss a path forward, and Schumer came out later, smiling. “We’re talking, we’re talking,” he said.

Read full story here: US shutdown: New talks mark first hint of break in impasse

09:12 (IST)25 Jan 2019
IndiGo names Ronjoy Dutta as new CEO; here’s all you must know

InterGlobe Aviation, owner of India’s biggest airline by market share IndiGo, on Thursday named Ronojoy Dutta as chief executive officer (CEO) for five years. “Approved the appointment of Mr. Ronojoy Dutta, as Chief Executive Officer of the Company with effect from January 24, 2019,” the airline said in a regulatory filing. The company also approved the appointment of Meleveetil Damodaran as chairman. Ronojoy Dutta, 67 years, is B.S. Mechanical Engineering from Indian Institute of Technology (IIT) and MBA from Harvard Business School. He was a co-founder and Managing Director of ACO Investment, renowned investment advisory firm in field of aviation and infrastructure. Dutta served as the President of Air Sahara from 2005 to 2008, President of United Airlines from 1999 till 2002.

Read full story here: IndiGo names Ronjoy Dutta as new CEO; here’s all you must know

09:07 (IST)25 Jan 2019
Yes Bank names Deutsche Bank’s Ravneet Gill as new MD, CEO; posts fall in Q3 net profit

Yes Bank on Thursday said that it has received RBI’s approval to appoint Ravneet Gill of Deutsche Bank India as MD & CEO to replace Rana Kapoor. Ravneet Singh Gill will join on or before March 1, 2019, the private lender said in a regulatory filing. “The Bank has received RBI approval for its new MD & CEO, Mr. Ravneet Singh Gill for him to join on or before March 1, 2019,” Yes Bank said in its filing to the BSE. In its earnings for the quarter ending December, Yes Bank has posted 7 per cent fall with a net profit at Rs 1,001 crore against Rs 1,076.8 crore in the same quarter last fiscal, the lender told exchanges. The gross NPA was at 2.10 per cent against 1.60 per cent, while net NPA at 1.18 per cent versus 0.86 per cent, QoQ.

Also read: Yes Bank names Deutsche Bank’s Ravneet Gill as new MD, CEO; posts fall in Q3 net profit

09:06 (IST)25 Jan 2019
US stocks: Nasdaq boosted by chip rally; Dow, S&P 500 stall

The S&P 500 edged higher but the Dow closed nominally lower on Thursday as lingering anxieties about slowing global growth and unresolved trade disputes undercut a spate of strong earnings, while chipmakers rallied to give the Nasdaq a solid gain. Fourth-quarter earnings continued to be generally positive, but U.S. Commerce Secretary Wilbur Ross’ comments that the United States and China were “miles and miles” from reaching a trade agreement curbed investor enthusiasm. Chipmakers led the Nasdaq’s rise, as Xilinx Inc and Lam Research Corp reported quarterly results that beat analyst expectations. Texas Instruments Inc, while posting better-than-expected profit, disappointed on revenue.

Read full story here: US stocks: Nasdaq boosted by chip rally; Dow, S&P 500 stall

09:05 (IST)25 Jan 2019
Asia stocks gain, euro struggles after dovish ECB

Asian stocks inched higher on Friday, buoyed by gains in U.S. technology shares, but gains were capped by worries over slowing growth in Europe and caution ahead of several key events next week including U.S.-China trade talks. The euro struggled near a six-week low versus the dollar following dovish-sounding comments from European Central Bank President Mario Draghi, who expressed concerns about the euro zone economy.

Also read: Asia stocks gain, euro struggles after dovish ECB

Share market on Thursday: The 30-share BSE Sensex, after opening higher at 36,146.55 points, gave up all gains and slipped into the negative terrain to crack below the 36,000-mark, and touched a low of 35,996.68. However, on emergence of buying in late afternoon trade, it staged a comeback to close the day 86.63 points, or 0.24 per cent, higher at 36,195.10 after scaling a high of 36,258.28. A significant gain in shares of Reliance Industries, Yes Bank, ITC, TCS and SBI, which rallied up to 8.39 per cent, largely boosted both the key indices. (From PTI)
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