Share market HIGHLIGHTS: Sensex ends below 35,000, Nifty below 10,550; SBI, Axis Bank shares tank 4%

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Updated: November 6, 2018 5:14:03 pm

Share market Highlights: Sensex and Nifty erased gains on Tuesday afternoon, after opening higher tracking global cues. The 30-share Sensex ended the day 41 points higher at 34,991.91.

Share market highlights: Yes Bank share price gained 3.7% to intra-day high of Rs 217.90.

Share market Highlights: Sensex and Nifty erased gains on Tuesday afternoon, after opening higher tracking global cues. The 30-share Sensex ended the day 41 points higher at 34,991.91, while the broader Nifty 50 ended below the psychological 10,500-mark.

In Tuesday’s session, the Sensex commenced higher at 35,076.24 points and continued its upward march to hit a high of 35,196.03. However, profit-booking in the last one hour of trading, in line with losses in European markets, wiped-off most Sensex gains as it hit a low of 34,889.72 and settled at 34,991.91 points, up 40.99 points or 0.12 per cent. Intra-day, Sensex slipped 61 points from previous close to hit the day’s low at 34,889.72, while the broader Nifty 50 moved below the psychological 10,550-mark. In the Sensex, Tata Motors shares zoomed more than 4%, while VEDL shares gained up to 3.5%. Yes Bank share price gained 3.7% to intra-day high of Rs 217.90. RIL, TCS, Infosys and IndusInd Bank shares gained more than 1% each. Shares of SBI and Axis Bank tanked more than 3.5% intra-day. After today’s

Earlier, Nifty futures were trading around 10,595-level on the Singaporean Exchange indicating a positive start for Sensex and Nifty. Asian stocks eked out modest gains at the open after a mixed U.S. session ahead of midterm elections. Treasury yields ticked higher and the dollar was steady, Reuters reported. 

The S&P 500 index rose on Monday with rally in shares from from financial, energy and defensive sectors as investors showed some caution on the eve of US congressional elections. We bring to you live updates from today’s trade. 

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Highlights

    16:19 (IST)06 Nov 2018
    Sensex ends Samvat 2074 higher 7% to 34,991.91

    With today's volatile session ending at 34,991.91,  the 30-share Sensex has closed the Samvat year 2074 higher by over 7%. The benchmark Sensex has gained 2,407.56 points, or 7 per cent, in the Hindu Samvat year 2074, while the broader NSE Nifty rose by 319.15 points, or over 3%. In Tuesday's session, the Sensex commenced higher at 35,076.24 points and continued its upward march to hit a high of 35,196.03. However, profit-booking in the last one hour of trading, in line with losses in European markets, wiped-off most Sensex gains as it hit a low of 34,889.72 and settled at 34,991.91 points, up 40.99 points or 0.12 per cent.

    15:53 (IST)06 Nov 2018
    FD cheer ahead of Diwali! HDFC Bank, ICICI Bank hike Fixed Deposit interest rates; check latest interest rates

    HDFC Bank, India’s largest private lender, has hiked its fixed deposit interest rates by up to 50 basis points effective today, ie. 6th November, 2018. The rates have been hiked on domestic, NRO and NRE term deposits below Rs 1 crore as well as above Rs 1 crore to less than Rs 5 crore. The last revision in the FD rates was done by HDFC Bank on October 06 this year.  Many banks including the State Bank of India, Kotak Bank and ICICI Bank – have revised their FD interest rates upwards in this rising interest rate regime. With the latest revision in the FD rates, on deposits below Rs 1 crore, HDFC Bank is now offering 7.30% interest rate on its FDs for 1 year as against 7.25% earlier.

    Also read: FDs become more attractive this Diwali: HDFC Bank hikes rates for fixed deposits; Check latest SBI, ICICI, Axis Bank interest rates

    15:34 (IST)06 Nov 2018
    BSE live: Sensex ends flat, Nifty below 10,500

    The 30-share Sensex ended the day just 17 points higher. The broader Nifty 50 ended below 10,550 level. We take a look at the heat map. 

    15:22 (IST)06 Nov 2018
    BSE Live: Midcap stocks slump; Balkrishna Industries down 11%

    Midcap stocks were trading under pressure on Tuesday afternoon, with shares of IGL and Balkrishna Industries losing up to 11%. Balkrishna Industries shares slumped by more than 12% to hit intra-day low of Rs 940 after the firm's tepid Q2 results. The firm has reported a profit of Rs 222 crore for the quarter ended September, below street estimates. The firm had reported a net profit of Rs 203 crore in comparable quarter previous fiscal. A look at the heat map.

    14:54 (IST)06 Nov 2018
    Titan shares slump 2%

    Shares of jewellery major Titan Company Ltd slumped by more than 2% on Tuesday afternoon. Titan shares slipped 2.08% to hit the day's low at Rs 845.70. The shares have emerged as the most consistent wealth creator, according to a study by Motilal Oswal. Motilal Oswal's 23rd wealth creation study noted that Titan Company Ltd shares have emerged the most consistent wealth creator by virtue of – 1. Appearing among top 100 Wealth Creators in each of the last 10 studies; and 2. Recording the highest Price CAGR of 33% over the 10-year period 2008 to 2018, fractionally ahead of Godrej Consumer. 

    14:31 (IST)06 Nov 2018
    BSE Live: Sensex turns negative for the day; Nifty gives up 10,550

    Sensex and Nifty erased gains on Tuesday afternoon, after opening higher tracking global cues. The 30-share Sensex slipped 61 points to hit the day's low at 34,889.72, while the broader Nifty 50 moved below the psychological 10,550-mark. Axis Bank and SBI shares plunged by more than 3.5% each. A look at the heat map.

    13:20 (IST)06 Nov 2018
    PC Jeweller shares take a break after stellar rally in last 1 week

    PC Jeweller shares took a break on Tuesday, after seeing a stellar rallly in the last one week period. PC Jeweller share price surged over 100% from Rs 48.79 per share on October 25 to Rs 96.40 on November 5, doubling investors money in just seven sessions of trade. Amid festive season buying, PC Jeweller stock leaped to an intra-day high of Rs 100.05 per share on the BSE on Monday. However, profit booking pulled the stock lower today, which fell nearly 7% intraday to a low of  88.10 per share.

    Also read: This stock is shining on Diwali! Share price gains over 100% in just 7 sessions

    12:53 (IST)06 Nov 2018
    Jet Airways shares extend rally on media reports of firm initiating second round of talks with Tata Group

    Shares of India's major private airline Jet Airways extended rally on Tuesday after media reports of Tata Group and the airline having initiated second round of discussions on a possible deal. Jet Airways share price zoomed 4.4% to day's high of Rs 262.50. Yesterday, the shares soared 8% after a CNBC TV18 report said that the talks are aimed at buying Jet Airways’ promoters’ and Etihad’s stake in the company. If the deal goes through, the Group has also sought to merge Vistara with Jet Airways, reported the channel.

    12:34 (IST)06 Nov 2018
    ICICI Bank share -price jumps 2.3% to Rs 358

    Shares of India's largest private sector lender ICICI Bank gained more than 2% in the morning trade on Tuesday. ICICI Bank share price rallied more than 2.3% to hit an intra-day high of Rs 358. Axis Direct has named ICICI Bank among its top Diwali picks. According to the firm, ICICI Bank is making a concerted effort to shift its funding to low cost term-deposits from wholesale term deposits.  This is slated to improve ICICI Bank’s funding profile, and will boost its NIM (net interest margin). Further, the bank has been successfully leveraging technology to augment the contribution of NII towards its profitability. Interestingly, Axis also notes the appointment of Sandeep Bakshi as MD and CEO of Axis Bank puts to rest the uncertainty in the bank. The focus will now shift towards growth and NPA resolution, noted Axis Direct.  ICICI Bank shares are trading at Rs 348.25 on BSE this afternoon.

    Also read: These blue chip pataka stocks could brighten your Diwali, up to 28% upside

    11:57 (IST)06 Nov 2018
    NSE Live: Yes Bank, Federal Bank among buzzing bank stocks

    Yes Bank shares zoomed 3.7% to intra-day high of Rs 217.90 on Tuesday morning, to emerge among buzzing Nifty bank Index stocks. A look at Nifty Bank index.

    11:31 (IST)06 Nov 2018
    Fastest wealth creators: IndiaBulls Ventures emerges as fastest wealth creator in last 5 years, says study

    According to Motilal Oswal's 23rd wealth creation study, Indiabulls Ventures has emerged the Fastest Wealth Creator, with 2013-18 stock price multiplier of 30x (97% CAGR). The top 10 namaes are: Indiabulls Ventures, Dalmia Bharat, HEG, TVS Motors, Sterlite Technogies, Bajaj Finance, Motilal Oswal, IIFL Holdings, NBCC and Eicher Motors.  "Rs 1 lakh invested equally in 2013 in top 10 Fastest Wealth Creators would have grown to almost INR 1.7 million in 2018, delivering a return CAGR of 75%. Over the same period, 1 lakh invested in the Sensex would have grown to only Rs 175,000," notes the study.

    11:18 (IST)06 Nov 2018
    NSE Live: Yes Bank, TCS among top Nifty gainers

    Shares of TCS, Yes Bank emerged among the top gainers in the morning trade on NSE. While TCS share price zoomed 2.5% to Rs 1,935, Yes Bank share price gained as much as 2.8% to intra-day high of Rs 215.95. A look at top 5 Nifty gainers and losers.  

    11:07 (IST)06 Nov 2018
    Axis Bank share price tanks 2.7% despite strong Q2 results

    Shares of India's major private sector lender Axis Bank tanked onb Tuesday, despite the firm's strong Q2 results. Axis Bank share price lost 2.7% to intra-day low of Rs 607.45. Axis Bank has reported a 83% on-year rise in net profit at Rs 790 crore for the quarter ending September on the back of healthy growth in core income and decline in provisions for bad loans. Nomura noted that Q2 “clearly indicates a turning point in profitability for the bank, as net interest margins (NIM) are on an improving trend that should drive faster pre-provision operating profit growth.” The global rating agency raises target price to Rs 750 from Rs 630 earlier, maintains rating at ‘buy’.

    10:53 (IST)06 Nov 2018
    Samvat 2075 bets: Hotel sector should be a safe bet, says Porinju Veliyath

    Even as investors may be looking for safe stock picks come Samvat 2075, especially after a volatile Samvat 2074, ace investor Porinju Veliyath says that hotel firms can serve as good long-term bets in the next 2-3 years. In an interview to ET Now, Porinju said that there are signs of recovery from an oversold environment. Further, he sees a rewarding Samvat for new investors, starting this Diwali.  "Hotel sector is a safe bet for next 2-3 years," he told the channel.

    10:46 (IST)06 Nov 2018
    Government vs RBI: Raghuram Rajan says aim of RBI should be to provide sensible advice

    The aim of RBI board should be to protect the institution, provide sensible advice and not serve interests of the others, former central bank governor Raghuram Rajan told CNBC TV18 in an interview. “It (RBI board’s aim) is to protect the health of the institution, but also to provide wide, sensible advice. … the aim of the board is to be a Rahul Dravid, sensible, thoughtful and not, with due respect, Navjot Singh Sidhu,” said Rajan who is currently serving as professor of finance at the University of Chicago Booth School of Business.

    Also read: Why Raghuram Rajan says RBI board should be like Rahul Dravid, not Navjot Singh Sidhu

    10:36 (IST)06 Nov 2018
    RIL share price rallies 2%

    Billionaire Mukesh Ambani-led Reliance Industries share gained nearly 2% on Tuesday morning to Rs 1,109 on NSE. Interestingly, the firm had announced the use of blockchain for export payment. In a first for India, British banking major HSBC has executed a trade finance transaction involving an export by Reliance Industries to an American client using the blockchain, which massively reduced the time taken for processing the documents. The blockchain-enabled letter of credit transaction facilitated a shipment between Reliance and the US-based Tricon Energy, a joint statement issued by HSBC India and Reliance said.

    Also read: Another first from Mukesh Ambani: Reliance Industries uses blockchain for export payment

    10:26 (IST)06 Nov 2018
    TCS, Infosys shares rally up to 2.5%

    TCS, Infosys shares emerged among top gainers on Tuesday morning. TCS share price zoomed 2.5% to Rs 1,935, while Infosys shares were trading 1.5% higher at Rs 675. A look at Sensex heat map.

    10:13 (IST)06 Nov 2018
    DHFL share price zooms 5%, a look at BSE Smallcap Index

    DHFL share price zoomed nearly 5% in the morning trade. According to media reports, Dewan Housing Finance is set to raise about Rs 1,500 crore via bond sales even as liquidity conditions at India’s para-banks continue to dominate national headlines. A look at BSE Smallcap Index heatmap.

    10:07 (IST)06 Nov 2018
    Rakesh Jhunjhunwala on stock market correction: No reason to be bearish

    “In 2013, Nifty was at 4,800 and in 5 years it crossed 11,500 and the correction that we witnessed was a poor correction compared to the rise and this happened when we recorded biggest FII selling. The last time when we saw this kind of selling in 2008, we saw absolute demolition,” Rakesh Jhunjhunwala told in an interview to CNBC TV18. According to the ace investor, there is no reason to be bearish.  “The main macroeconomic factors which were responsible for the recent correction i.e. rupee and oil prices have now revered,” he noted.

    09:54 (IST)06 Nov 2018
    Sector UPDATE: PSU Bank index in red; SBI shares up 0.39%

    The Nifty PSU Bank index traded in the red in early moring trade on Tuesday, led by losses in Vijaya Bank, Canara Bank and Bank of India shares. On the other hand, SBI, PNB, Central Bank of India and Indian Bank shares gained.

    09:45 (IST)06 Nov 2018
    Rupee opens strong at 72.91, gains 21 paise versus US dollar

    The rupee opened on a strong note in the early trade on Tuesday, gaining 22 paise versus the US dollar on increased selling by exporters. The domestic currency closed the day against US dollar on Monday at 73.12 on Bloomberg index. The rupee was trading at 72.93 at the time of reporting.

    Also read: Rupee opens strong at 72.91, gains 21 paise versus US dollar

    09:34 (IST)06 Nov 2018
    Tata Motors share price gains 5% after robust October sales

    Tata Motors share price rallied on Tuesday, on the back of the firm's robust October sales data. Tata Motors shares gained nearly 5% to day's high of Rs 198.9 on Tuesday morning. Home -grown auto major on Thursday reported 18 per cent rise in its October sales at 57,710 units due to the continued strong sales performance of its commercial and passenger vehicles business.

    09:24 (IST)06 Nov 2018
    Sensex opens 125 points higher, Nifty above 10,550

    Sensex and Nifty opened positive on Tuesday, tracking global cues. The 30-share Sensex opened 125 points higher at 35,076.24, while the broader Nifty 50 moved past the psychological 10,550 mark. Check heat map.

    09:12 (IST)06 Nov 2018
    BSE LIVE: Heatmap

    Share market LIVE updates: The domestic stock market is likely to open positive tracking global cues. Earlier, trends on the SGX Nifty indicated a positive start for Sensex and Nifty, with the index trading with a gain of 30 points or 0.28 percent.

    09:10 (IST)06 Nov 2018
    US dollar falls against most major currencies

    The US dollar slid against most other major currencies as investors were concerned over the volatility for global markets that brought about by the US midterm elections scheduled on Tuesday. In late New York trading on Monday, the euro rose to $1.1417 from $1.1392 in the previous session, and the British pound was up to $1.3048 from $1.2964 in the previous session, Xinhua news agency reported.

    Also read: US dollar falls against most major currencies

    09:08 (IST)06 Nov 2018
    US stocks end mixed ahead of midterm elections

    US stocks closed mixed as investors got ready for the upcoming midterm elections. The Dow Jones Industrial Average on Monday increased 190.87 points, or 0.76 per cent, to 25,461.70. The S&P 500 rose 15.25 points, or 0.56 per cent, to 2,738.31, Xinhua news agency reported. The Nasdaq Composite Index was down 28.14 points, or 0.38 per cent, to 7,328.85.

    Also read: US stocks end mixed ahead of midterm elections

    09:07 (IST)06 Nov 2018
    Asia Stocks Edge Higher at Open; Treasuries Slip

    Equities climbed in Japan, Australia and South Korea, while Hong Kong and China futures also tipped gains. Earlier, Warren Buffett’s Berkshire Hathaway Inc. underpinned an advance in the S&P 500 Index after the billionaire stock-picker revealed he’d been buying back his firm’s own shares. Apple Inc. suppliers may come under pressure on a report the iPhone maker wouldn’t boost some production — the stock slumped and Facebook Inc. and Amazon.com Inc. also sank, weighing on the Nasdaq indexes.

    Also read: Asia Stocks Edge Higher at Open; Treasuries Slip: Markets Wrap

    09:05 (IST)06 Nov 2018
    India stock market lacked cheer in Samvat 2074, Top gainers and losers in Samvat 2074

    Samvat 2074 lacked cheer for Indian equity investors as the benchmark Nifty clocked a moderate gain of just 4% – its lowest gains in three years. Had the index not rallied over 5% during the week ahead of Diwali, the returns for this year would have been negative. Nifty had posted a return of 17.6% and 10.2% in the previous two Samvat years and therefore the returns need to be seen in that light.

    Also read: India stock market lacked cheer in Samvat 2074; Nifty gain moderate: Here are top gainers and losers

    Share market on Monday: Sensex and Nifty — the benchmark indices of the domestic equity markets — ended in red amid weak cues from global markets and weak rupee. The Sensex fell below the 35,000-level to touch a low of 34,811.60 due to heavy selling pressure.The NSE Nifty, after slipping below the 10,500-mark to hit a low of 10,477, finally concluded 29 points, or 0.27 per cent, down at 10,524.
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