Share market Highlights: Sensex ends 196 points higher, Nifty above 10,850; Bharti Airtel, Bajaj Auto shares tank

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Updated:Mar 01, 2019 3:54:51 pm

Share market highlights: The Sensex and Nifty settled higher on Friday, after investor sentiment got a boost after geopolitical tensions eased between India and Pakistan. The Sensex closed 197 points higher at 36,063.81 while the Nifty is closed above the 10,850-mark.

Share market highlights: Bharti Airtel shares closed 3.2% lower at Rs 307.75 on BSE.

Share market Highlights: The Sensex and Nifty settled higher on Friday, after investor sentiment got a boost after geopolitical tensions eased between India and Pakistan. The Sensex closed 197 points higher at 36,063.81 while the Nifty is closed above the 10,850-mark. 

Bharti Airtel shares closed 3.2% lower at Rs 307.75 on BSE, after the firm announced a mega fund raising plan of Rs 32,000-crore in a bid to pare its debt pile. Zee Entertainment shares ended 4.4% higher at Rs 487.60. Bajaj Auto shares tanked by 1.3% to Rs 2,861 on NSE. 

Asian shares inched higher on Friday with broader gains capped by investor caution as concerns about China’s economy and global trade weighed on sentiment while stronger-than-expected US GDP data pushed the dollar up. MSCI’s broadest index of Asia-Pacific shares outside Japan was up less than 0.1 percent in early trade. Japan’s Nikkei 225 gained 0.8 percent, helped by the weaker yen, while Australian shares added 0.6. Percent, Reuters reported.

Shares of billionaire Sunil Mittal-led Bharti Airtel will assume focus after global brokerage firms said that the latest Rs 32,000 crore fund raising will help the telco in deleveraging. Private sector airline Jet Airways will also assume focus after media reports indicate that chairman Naresh Goyal has agreed to step down from the firm. We bring to you LIVE updates.

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15:51 (IST)01 Mar 2019
BSE live: Sensex ends 196 points higher, Nifty above 10,850; Bharti Airtel, Bajaj Auto shares tank

The Sensex and Nifty settled higher on Friday, after investor sentiment got a boost after geopolitical tensions eased between India and Pakistan. The Sensex closed 197 points higher at 36,063.81 while the Nifty is closed above the 10,850-mark. Bharti Airtel shares closed 3.2% lower at Rs 307.75 on BSE, after the firm announced a mega fund raising plan of Rs 32,000-crore in a bid to pare its debt pile. Zee Entertainment shares ended 4.4% higher at Rs 487.60. Bajaj Auto shares tanked by 1.3% to Rs 2,861 on NSE. A look at LIVE Sensex heatmap.

15:09 (IST)01 Mar 2019
How PNB recovered from biggest bank fraud to top spot in ‘reform agenda’ in jus

India’s second-largest state-run lender Punjab National Bank has emerged as the top performer in an index measuring reforms at PSUs, in just nine months after being hit by India’s biggest bank fraud — Nirav Modi loan case. PSU banks in India have shown significant improvement and achievement in many areas across the six themes of the EASE Reforms Index, prompting Finance Minister Arun Jaitley to say: “The worst in banking system is now behind us.”

Also read: How PNB recovered from biggest bank fraud to top spot in ‘reform agenda’ in just 9 months

14:42 (IST)01 Mar 2019
It’s time to buy in share market ahead of election, not wait and watch; PMS manager shares top stock buys

With the upcoming Lok Sabha election 2019, stock market seems to be in a cautious mood since the start of the year, with Sensex and Nifty falling nearly 1% each in the last two months. While several investors are waiting on sidelines for election before making more moves in the stock market, PMS manager Yogesh Nagaonkar advises to use the opportunity of low valuations and take positions in strong companies. Further, he advises a ‘safety-first approach’  to investment decisions. “It is vital to create a diversified portfolio of stocks, not just concentrate your bets in 2-3 stocks,” he explains.

Read full interview here: It’s time to buy in share market ahead of election, not wait and watch; PMS manager shares top stock buys

14:11 (IST)01 Mar 2019
GDP growth at 5 quarter low: RBI rate cut on cards? Here’s what analysts say

As economy eased in the quarter ending December of FY19 on account of weak domestic demand, Reserve Bank of India (RBI) may ease monetary policy to tackle a sharper slowdown ahead, analysts said. Low inflation and weak growth may push the central bank for additional easing in the April monetary policy, Kotak Economic Research said. “While we have already penciled in a 25 bps of rate cut in April, if growth momentum moderates further, we do not rule out an additional 25 bps cut later in the year in addition to our base case of 50 bps cut in CY2019,” it added.

Also read: GDP growth at 5 quarter low: RBI rate cut on cards? Here’s what analysts say

13:06 (IST)01 Mar 2019
BSE live: Sensex pares gains, Nifty above 10,800; Yes Bank, IndusInd Bank top gainers

 After opening higher on Friday, the Sensex and Nifty have pared gains and are off highs in the afternoon trade. The Sensex is up 90 points to 35,957.41 while the Nifty is trading below the 10,850-mark. Bharti Airtel shares tanked by nearly 4% to hit Rs 305.55 on NSE, after the firm finalised a fund-raising plan of up to Rs 32,000 crore. Yes Bank shares are trading 3% higher at Rs 238 on BSE. IndusInd Bank shares are trading 2% higher at Rs 1,502 on NSE, while shares of Vedanta are trading 2.2% up at Rs 173.20. A look at LIVE Sensex heatmap. 

12:39 (IST)01 Mar 2019
PM-KISAN’s big challenge: 2 reasons why Modi’s Rs 75,000 crore farm scheme is up for challenging days ahead

Even as Modi government’s ambitious PM-KISAN aims to provide annual direct income support to farmers, identifying and transferring the amount to the beneficiaries remains a challenge, said SBI’s Ecowrap. It comes days after a recent media report claimed that the first instalment deposited into bank accounts of farmers was withdrawn without their consent. It requires participation of all states to make the farm scheme successful and serve its purpose, the report added. However, so far, not all the states have been forthcoming, it stated.

Also read: PM-KISAN’s big challenge: 2 reasons why Modi’s Rs 75,000 crore farm scheme is up for challenging days ahead

12:12 (IST)01 Mar 2019
Pakistan Foreign Minister boycotts OIC due to Sushma Swaraj’s presence

Pakistan Foreign Minister Shah Mehmood Qureshi says he would not attend Council of Foreign Ministers at Organisation of Islamic Cooperation (OIC) as a matter of principle for having extended invitation as a Guest of Honour to Sushma Swaraj.  Meanwhile, missing Indian Air Force (IAF) Wing Commander Pilot Abhinandan Varthaman is coming back to India today. Wing Commander Abhinandan, who was captured by Pakistan authority, will be handed over India through Attari-Wagah border. 

Track live updates here: India Pakistan NEWS LIVE Updates: Pakistan Foreign Minister boycotts OIC due to Sushma Swaraj’s presence

12:03 (IST)01 Mar 2019
Pulwama terror attack update: JeM chief Masood Azhar present in Pakistan, says Foreign minister Shah Mahmood Qureshi

Foreign Minister Shah Mahmood Qureshi has admitted that Jaish-e-Mohammed chief Masood Azhar is in Pakistan and is “unwell”, but said the government can act against him only if India presents “solid” and “inalienable” evidence that can stand in a court of law. Qureshi’s remarks came amid heightened tensions between India and Pakistan after the February 14 terror attack by Pakistan-based Jaish-e-Mohammed (JeM) in Pulwama that left 40 CRPF personnel dead.

Read full story here: ‘Unwell’ JeM chief Masood Azhar present in Pakistan, admits Foreign minister Shah Mahmood Qureshi, seeks evidence to act against him

11:53 (IST)01 Mar 2019
BSE live: Sensex off highs, Nifty above 10,800; IndusInd Bank, VEDL among top gainers

After opening higher this morning, the Sensex and Nifty have pared gains and are off highs in the late morning trade. The Sensex is up 144 points to 36,015.47, while the Nifty is trading above the 10,850-mark. Bharti Airtel shares tanked by nearly 4% to hit Rs 305.55 on NSE, after the firm finalised a fund-raising plan of up to Rs 32,000 crore through a combination of Rs 25,000-crore rights issue and a Rs 7,000-crore perpetual bonds float to build a war chest to reduce debt. IndusInd Bank shares are trading 2% higher at Rs 1,502 on NSE, while shares of Vedanta are trading 2.2% up at Rs 173.20. A look at LIVE Sensex heatmap.

11:36 (IST)01 Mar 2019
Manufacturing PMI soars to 14-month high in February; 3 key factors that helped

The country’s manufacturing sector performance further strengthened in February and touched a 14-month high driven by acceleration in sales, output and employment, a monthly survey showed Friday. The Nikkei India Manufacturing Purchasing Managers’ Index rose to 54.3 in February, from 53.9 in January, amid a robust improvement in business conditions. This is the 19th consecutive month that the manufacturing PMI remained above the 50-point mark. In PMI parlance, a print above 50 means expansion, while a score below that denotes contraction.

Also read: Manufacturing PMI soars to 14-month high in February; 3 key factors that helped

11:06 (IST)01 Mar 2019
ED searches Chanda Kochhar, Venugopal Dhoot residences in ICICI Bank-Videocon loan case

The Enforcement Directorate (ED) has conducted searches at premises of Chanda Kochhar and Venugopal Dhoot, In connection with the ICICI Bank-Videocon loan case, PTI reported citing officials. The premises of the former MD & CEO of ICICI Bank were searched this morning as part of the ongoing probe into the ICICI Bank-Videocon loan PMLA case, said officials. Earlier last week, in fresh trouble for former ICICI Bank MD & CEO Chanda Kochhar, Central Bureau of Investigation (CBI) had issued a look out circular against her. It came days after the investigating agency registered a case against her in the ICICI Bank-Videocon loan case.

Also read: ED searches Chanda Kochhar, Venugopal Dhoot residences in ICICI Bank-Videocon loan case

10:27 (IST)01 Mar 2019
Bharti Airtel share price plunges 4% after firm's Rs 32,000 crore fund raising war chest

Shares of billionaire Sunil Mittal-led Bharti Airtel shares plunged in trade on Friday morning, after the firm yesterday announced a massive Rs 32,000-crore fund raising plan. Bharti Airtel share price tanked by more than 4% to Rs 305.45 on BSE. Global brokerage firm Credit Suisse has maintained a 'Neutral Call' on Bharti Airtel with a target of Rs 320 per share, says capital raising should be seen as building a 'war-chest' in battle for market share.

09:49 (IST)01 Mar 2019
Rupee slips 14 paise against US dollar in early trade

The rupee depreciated by 14 paise to 70.86 against the US dollar in early trade Friday on increased demand for the US currency from importers and foreign fund outflows. Besides, strength in dollar against major rival currencies on stronger US economic data also kept pressure on the Indian rupee, dealers said. However, a higher opening in domestic equities helped in restricting the slide in the Indian unit to some extent, they added. On the macro-economic front, a caution prevailed after official data showed that country’s economic growth slowed to a 5-quarter low of 6.6 per cent in the October-December period.

Also read: Rupee slips 14 paise against US dollar in early trade

09:27 (IST)01 Mar 2019
BSE live:Sensex jumps 260 points, Nifty above 10,850; Bharti Airtel shares plunge 4%

The stock markets- Sensex and Nifty opened higher tracking positive global cues on Thursday morning. The Sensex is up 263 points to 36,130.51, while the Nifty is trading above the 10,850-mark. Bharti Airtel shares slumped by nearly 4% to hit Rs 305.55 on NSE, after the firm finalised a fund-raising plan of up to Rs 32,000 crore through a combination of Rs 25,000-crore rights issue and a Rs 7,000-crore perpetual bonds float to build a war chest to reduce debt. Yes Bank shares jumped by nearly 2.5% to Rs 235.55 in the morning trade. A look at LIVE Sensex live heatmap.

09:16 (IST)01 Mar 2019
From $6 billion to $1.8 billion: Govt revises down FDI inflows into chemicals drastically

The government has sharply revised down foreign direct investment (FDI) inflows into the chemicals sector other than fertiliser, which had surprisingly emerged as the biggest puller of such investments in the first three quarters of this fiscal, beating larger segments like services, telecommunications and trading, and raising eye-brows.

Also read: From $6 billion to $1.8 billion: Govt revises down FDI inflows into chemicals drastically

09:15 (IST)01 Mar 2019
To compete with Reliance Jio, Bharti Airtel to build Rs 32,000 crore war chest

Bharti Airtel has finalised a fund-raising plan of up to Rs 32,000 crore through a combination of Rs 25,000-crore rights issue and a Rs 7,000-crore perpetual bonds float to build a war chest to reduce debt and increase 4G network coverage to compete with Reliance Jio. In a stock exchange filing on Thursday, Bharti said the company’s board of directors has considered the recommendations of the special committee of directors for fund-raising and thereby approved the same.

Also read: To compete with Reliance Jio, Bharti Airtel to build Rs 32,000 crore war chest

09:06 (IST)01 Mar 2019
Dollar near 10-week high vs yen on upbeat US GDP

The dollar hovered near a 10-week high against the yen on Friday, thanks to a surge in Treasury yields after U.S. gross domestic product data topped expectations. The greenback was a touch higher at 111.445 yen and within striking distance of 111.495, its strongest level since Dec. 20 brushed overnight. The dollar index against a basket of six major currencies stood at 96.222 after grinding out a 0.15 percent gain on Thursday, when it pulled back from a three-week trough of 95.824.

Also read: Dollar near 10-week high vs yen on upbeat US GDP

09:05 (IST)01 Mar 2019
Growth slips: Slowdown in farm, manufacturing push India’s GDP growth down to 6.6%

With manufacturing, agriculture and small services faltering and government spending slowing, India’s gross domestic product (GDP) grew at a five-quarter low rate of 6.6% in the September-December period (Q3) of the current fiscal, official data revealed on Thursday. The Central Statistics Office (CSO) also revised down the growth rates for Q1 (from 8.2% to 8%) and Q2 (from 7.1% to 7%) and also that for the full fiscal year to 7% — a five-year trough — from 7.2% in the first advance estimate released in January.

Also read: Growth slips: Slowdown in farm, manufacturing push India’s GDP growth down to 6.6%

09:04 (IST)01 Mar 2019
US stocks edge downward as Wall Street takes a pause

Wall Street’s main indexes fell slightly on Thursday as support from better-than-feared U.S. GDP data was countered by concerns about earnings and U.S.-China trade relations. Also on Thursday, President Donald Trump said he had walked out of his Vietnam summit with Kim Jong Un because of demands from the North Korean leader to lift U.S.-led sanctions.

Also read: US stocks edge downward as Wall Street takes a pause

08:52 (IST)01 Mar 2019
Asian shares slightly higher, US growth lifts dollar, yields

Asian shares inched higher on Friday with broader gains capped by investor caution as concerns about China’s economy and global trade weighed on sentiment while stronger-than-expected U.S. GDP data pushed the dollar up. MSCI’s broadest index of Asia-Pacific shares outside Japan was up less than 0.1 percent in early trade. Japan’s Nikkei 225 gained 0.8 percent, helped by the weaker yen, while Australian shares added 0.6. percent. Investors will be looking to the opening of Chinese markets after the benchmark Shanghai Composite index posted its strongest monthly gain in nearly four years in February.

Also read: Asian shares slightly higher, US growth lifts dollar, yields

08:51 (IST)01 Mar 2019
Gold hovers near 2-week lows as dollar gains on upbeat US data

Gold steadied on Friday, but held close to its lowest in two weeks, as the U.S. dollar recouped losses thanks to stronger-than-expected U.S. economic data.* Spot gold was up 0.1 percent at $1,314.35 per ounce as of 0129 GMT, after touching its lowest since Feb. 15 at 1,312.15 in the previous session.* U.S. gold futures were flat at $1,315.80 an ounce. * The dollar, which pulled back from over three-week lows, was up 0.1 percent against major currencies.

Read full story here: Gold hovers near 2-week lows as dollar gains on upbeat US data

08:47 (IST)01 Mar 2019
US offers USD 1 million reward to find late Al-Qaeda leader Osama bin Laden son

The United States on Thursday offered a USD 1 million reward for information on a son of late Al-Qaeda leader Osama bin Laden, seeing him as an emerging face of extremism. The location of Hamza bin Laden, sometimes dubbed the “crown prince of jihad,” has been the subject of speculation for years with reports of him living in Pakistan, Afghanistan, Syria or under house arrest in Iran.

Also read: US offers USD 1 million reward to find late Al-Qaeda leader Osama bin Laden son

08:46 (IST)01 Mar 2019
Masood Azhar is in Pakistan, admits Pakistan's Foreign Minister

Pakistan's Foreign Minister Shah Mehmood Qureshi has confirmed that Jaish-e-Muhammad (JeM) chief terrorist Masood Azhar is in Pakistan. "He is unwell to the extent that he can't leave his house, because he's really unwell," he told CNN. The minister added that Islamabad is open to any step that leads to de-escalation of tensions between two neighbouring nations and demanded solid evidence from New Delhi about JeM's involvement in Pulwama incident.

Follow LIVE here: India Pakistan NEWS Updates: JeM chief terrorist Masood Azhar is in Pakistan, confirms Foreign Minister Mehmood Qureshi

08:39 (IST)01 Mar 2019
Core sector growth at 19-month low; here’s why January industrial growth may also fall

The latest core sector data suggest moderation in industrial growth going ahead with a downward bias due to a high base effect, a report said. “Based on the core sector growth this month, we are expecting the industrial output (measured by IIP) to grow by about 2% in Jan’19 with a downward bias due to high base effect,” CARE Ratings report said. Core sector growth fell to 19-month low of 1.8 per cent in January as the production of crude oil, refinery products and electricity contracted, official data showed Since June 2017, it is the lowest growth rate when the core sector grew by 1 per cent.  

Also read: Core sector growth at 19-month low; here’s why January industrial growth may also fall

08:38 (IST)01 Mar 2019
5.5 crore-passenger market at stake: UDAN’s progress and challenges

The Indian aviation industry is staring at a huge market of 5.5 crore passengers which needs wings, figuratively, Air India Chairman Ashwani Lohani said on Thursday. The aviation industry has a massive growth potential if only adequate infrastructure in terms of airports etc is provided. The states should subsidise travelling and eliminate VAT as it will act as a catalyst, Lohani said at an event. “Tourism is on an upswing. Currently, just at the fringes, there is a long way to go for the industry,” he said.

Also read: 5.5 crore-passenger market at stake: UDAN’s progress and challenges

08:37 (IST)01 Mar 2019
People’s small savings to the rescue again as government scrambles to bridge budget shortfall

Once again the small savings of the people may become a saviour for the Union government to fulfil budgetary shortfall as the economic growth during FY19 will likely weaken to 6.9 per cent in Q3 from the 7.1 per cent in the Q3, said India Ratings and Research in a recent report. “The Union government may borrow more than the 21 per cent budgeted for FY20 to cover its fiscal deficit requirements from the national small savings fund (NSSF) and state provident funds (SPF),” said India Ratings and Research.

Also read: People’s small savings to the rescue again as government scrambles to bridge budget shortfall

08:36 (IST)01 Mar 2019
GDP growth slows down to 6.6% in Oct-Dec quarter; key things to know

India’s GDP growth in slowed to 6.6 per cent in October-December quarter of FY19, from 7 per cent a year ago, data released by Central Statistics Office. (CSO) on Thursday said. It comes below the Reuters poll forecast of more than 55 economists anticipating GDP growth of 6.9 per cent. “Real GDP or Gross Domestic Product (GDP) at Constant (2011-12) Prices in the year 2018-19 is likely to attain a level of Rs 141.00 lakh crore, as against the First Revised Estimate of GDP for the year 2017-18 of Rs 131.80 lakh crore, released on 31st January 2019. 

Also read: GDP growth slows down to 6.6% in Oct-Dec quarter; key things to know

Share market on Thursday: After opening higher, the benchmark indices — Sensex and Nifty — receded from day’s highs to end lower in the intraday trade Thursday. In the February F&O series, while Sensex ended 37.99 points lower at 35,867.44, Nifty closed down 14.15 points at 10,792.50.While shares of ONGC closed the day 4.17% higher at Rs 148.80, Coal India stock settled down 3.16% at Rs 228.35. TCS shares are the biggest losers, down 3.38% at Rs 1,984.25. The stock market experts had predicted at the start of the day that the sentiment may remain muted as India-Pakistan geopolitical tensions weigh, impacting the F&O expiry.
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