Share market highlights: Sensex ends 425 points higher, Nifty near 11,500; RIL, SBI shares jump

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Updated:Mar 26, 2019 3:49:12 pm

Share market highlights: Sensex and Nifty closed higher on Tuesday morning, buoyed by a rally in Asian markets amid strong domestic and foreign inflows. The Sensex closed 425 points higher at 38,233.41, while the Nifty closed near the 11,500-mark.

Small Cap Stocks, Small Cap, Stock Market, BSE Small Cap, स्मालकैप शेयरों में निवेश, स्मालकैप, Invest In Stocks, ReturnShare market highlights: The Sensex is up 390 points to 38,200, while the Nifty is trading above the 11,450-mark.

Share market highlights: Sensex and Nifty closed higher on Tuesday morning, buoyed by a rally in Asian markets amid strong domestic and foreign inflows. The Sensex closed 425 points higher at 38,233.41, while the Nifty closed near the 11,500-mark. SBI shares closed 3.8% higher at Rs 305, while RIL shares closed 3.3% higher at Rs 1,369. Infosys shares ended 1.3% down at Rs 726.20.

Asian shares were shaky on Tuesday after US Treasury yields sank to their lowest since late 2017, further below short-term interest rates and adding to fears of a US recession. MSCI’s broadest index of Asia-Pacific shares outside Japan was flat in early trade after two days of losses. Japan’s Nikkei rebounded 1.1 percent after a 3.0 percent fall on Monday, Reuters reported.

U.S. stocks slipped on Monday, extending the previous session’s sell-off, hit by worries of a slowdown in global economic growth and as Apple shares fell. But trading was choppy, with stocks moving back and forth between negative and positive territory during the session, said Reuters report. We bring to you live updates.

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Share Market Highlights: Sensex, Nifty, Indian Rupee vs US Dollar, Latest Stock Market News, NSE, BSE

Highlights

    15:40 (IST)26 Mar 2019
    BSE live: Sensex ends 425 points higher, Nifty near 11,500; RIL, SBI shares jump

    Sensex and Nifty closed higher on Tuesday morning, buoyed by a rally in Asian markets amid strong domestic and foreign inflows. The Sensex closed 425 points higher at 38,233.41, while the Nifty closed near the 11,500-mark. SBI shares closed 3.8% higher at Rs 305, while RIL shares closed 3.3% higher at Rs 1,369. Infosys shares ended 1.3% down at Rs 726.20. A look at LIVE Sensex heatmap.

    15:20 (IST)26 Mar 2019
    How Azim Premji inspires Bill Gates; number one philanthropist cheers Wipro boss’ Rs 52,750 crore charity

    Azim Premji’s Rs 52,750 crore commitment to charity has won accolades worldwide, but the latest one from none other than Bill Gates would be the one to cherish. Earlier this month, Wipro Chairman Azim Premji became one of the top philanthropists in the world and the biggest in Asia after he pledged additional contributions on 13 March 2019. This earned him praise from leading personalities all across the globe, including that from the number one philanthropist and Microsoft founder Bill Gates.

    Also read: How Azim Premji inspires Bill Gates; number one philanthropist cheers Wipro boss’ Rs 52,750 crore charity

    14:57 (IST)26 Mar 2019
    BSE live: Sensex zooms 400 points, Nifty above 11,450; RIL, Bajaj Finance top gainers

    After opening marginally higher on Tuesday morning, Sensex and Nifty extended gains in the afternoon trade on Tuesday. The Sensex is up 390 points to 38,200, while the Nifty is trading above the 11,450-mark. Vedanta shares are trading 3% higher at Rs 173.30, while Bajaj Finance shares are up 2.9% to Rs 2,933.45 in the Sensex. Tech Mahindra shares are trading 2% down at Rs 774.15, while Infosys shares are trading flat at Rs 731.44 on NSE.  A look at LIVE Sensex heatmap.

    14:26 (IST)26 Mar 2019
    5 reasons why Arun Jaitley thinks Rahul Gandhi’s Rs 72,000 minimum income scheme is ‘bluff’

    After Congress president Rahul Gandhi on Monday announced an ambitious minimum income guarantee scheme for the poor, Finance Minister Arun Jaitleyaccused him of “bluffing the people”. The scheme is similar to the previous unsuccessful attempts by the party to end poverty and the devil lies in the detail, he added. When tested on simple arithmetic, Rs 72,000 offered is less than two-thirds of the current direct benefit transfer (DBT) provided by the Modi government, which averages Rs 1.068 lakh annually, he said.

    Also read: 5 reasons why Arun Jaitley thinks Rahul Gandhi’s Rs 72,000 minimum income scheme is ‘bluff’

    13:33 (IST)26 Mar 2019
    If Raghuram Rajan were India’s Finance Minister: Former RBI Governor lists 3 top priorities

    Raghuram Rajan has been credited with taking some bold decisions on the NPA-front as the RBI Governor. Even though not holding any government office in India currently, the globally renowned economist still has ideas in the mind to improve the fiscal health of the economy. In an interview with CNBC VT18, the Booth School professor highlighted the three top priorities if he were the finance minister of the country.

    Also read: If Raghuram Rajan were India’s Finance Minister: Former RBI Governor lists 3 top priorities

    12:47 (IST)26 Mar 2019
    Rahul Gandhi’s income guarantee scheme a game changer or a sham? Here’s what India needs instead

    Congress President Rahul Gandhi on Monday launched his latest attack on poverty by announcing that his minimum guaranteed income scheme known as Nyuntam Aay Yojana will provide up to Rs 72,000 annually to the poorest 5 crore families in India. The announcement has once again raised questions on the efficacy of such income support scheme in tackling poverty.

    Also read: Rahul Gandhi’s income guarantee scheme a game changer or a sham? Here’s what India needs instead

    12:08 (IST)26 Mar 2019
    Mindtree hostile takeover: L&T needs to follow friendly approach with IT firm, says Rajiv Ranjan Singh, CEO Stock Broking, Karvy

    The stock markets are on a rally largely on account of sustained foreign fund flow lately. Where do you see Sensex and Nifty heading?

    We have been optimistic on the prospects of equity markets for 2019. We believe that the probability of a stable coalition assuming office after the general elections are high, and indeed the market is discounting a higher probability of this event. Secondly we believe that after a long disappointing run, corporate earnings are likely to pick up and grow in a range of 15-20% from FY 2019-20 as capex spending picks up. Both of these factors are supportive of equities. However, in the electoral season, while volatility may rise, the outlook is positive. Our 2019 year end target for Sensex is 45,000 and for Nifty the target is 14,000.

    Read full story here: Mindtree hostile takeover: L&T needs to follow friendly approach with IT firm, says Rajiv Ranjan Singh, CEO Stock Broking, Karvy

    11:44 (IST)26 Mar 2019
    Mindtree's large shareholders on Subroto Bagchi's side on hostile takeover battle with L&T, reveals CEO

    Even as Mindtree mulls various strategies to fend off L&T's hostile takeover bid including a share buyback, CEO Rostow Ravanan says that there has been an extensive outpouring of support for Mindtree minds from large institutional shareholders including Nalanda, Amansa and Vanguard. "Nalanda Capital, our biggest shareholder recognises that Mindtree has created exceptional value for all our stakeholders. That is the construct and vision of what we are following, as well as a culture that Mindtree has. We hope that culture is not disturbed, so that the output to clients is not disturbed," Rostow Ravanan said in an interview to ET Now. 

    Also read: Mindtree's large shareholders on Subroto Bagchi's side on hostile takeover battle with L&T, reveals CEO

    11:09 (IST)26 Mar 2019
    L&T hostile takeover: Mindtree CEO Rostow Ravanan says all investors have shown support for leadership team

    "Our people have expressed very strong support for the leadership at Mindtree. We have not heard anything from L&T at this stage. Everything has been played out by the media. As and when a communication comes from them directly, we will have to look at the merits, and take a decision. That I’m a promoter is only accidental, we don’t really behave like promoters. I don’t even have a designated parking space in the office. Our feelings is less as promoters, and I want to make that distinction clear," Mindtree CEO Rostow Ravanan told in an interview to ET Now.

    10:41 (IST)26 Mar 2019
    Jet Airways bailout: Mallya calls out PSU banks; wishes same was done for Kingfisher

    Embattled liquor baron Vijay Mallya Tuesday lashed out at public sector banks for “double standards” under the current NDA regime for their intervention to bailout Jet Airways while the same lenders made his Kingfisher airlines “fail ruthlessly”. In a series of tweets reacting to banks led by State Bank of India taking over management control of troubled Jet Airways, Mallya said,”…Only wish the same was done for Kingfisher”. “Happy to see that PSU Banks have bailed out Jet Airways saving jobs, connectivity and enterprise,” he said.

    Also read: Jet Airways bailout: Mallya calls out PSU banks; wishes same was done for Kingfisher

    10:31 (IST)26 Mar 2019
    Jet Airways shares extend gains after Naresh Goyal's exit

    Shares of India's major private sector airline Jet Airways exteded gains for the second consecutive day on Tuesday, after Naresh Goyal stepped down as the Chairman of the board. Jet Airways shares gained more than 8.5% to hit the day's high at Rs 276.90 on NSE. Even as Jet Airways continues to roil under financial stress, Naresh Goyal and wife Anita Goyal have finally stepped down from the board, paving the way forward for recovery of the airline with infusion of fresh funds. Yesterday, Jet Airways share price jumped 14% intra-day to hit the day’s high at Rs 259.

    Also read: Delhi-Mumbai airfare at Rs 1 lakh no more as Jet Airways looks for resolution; here’s SBI Chairman’s vision

    09:53 (IST)26 Mar 2019
    Rupee rises 15 paise to 68.81 against US dollar in early trade

    The rupee strengthened by 15 paise to 68.81 against the US dollar in opening trade Tuesday on fresh selling of the greenback by exporters.  The weakening of the US dollar against some currencies overseas and a higher opening in domestic equity market, supported the local unit, a currency dealer said.  At the Interbank forex market, the rupee opened higher at 68.88 and strengthened further to 68.81 against the US dollar, higher by 15 paise over its previous close. On Tuesday, the rupee ended almost flat at 68.96 per US dollar as participants preferred to wait on the sidelines to see the outcome of RBI's first-ever rupee-dollar swap auction. Brent crude futures, the global oil benchmark, was trading 0.09 per cent up at USD 67.27 per barrel.  Meanwhile, the benchmark BSE Sensex recovered by 77.38 points, or 0.20 per cent, to 37,886.29 in early trade Tuesday.

    09:28 (IST)26 Mar 2019
    BSE live: Sensex up 50 points, Nifty below 11,400; Jet Airways jumps 9%, Infosys, Tech Mahindra down

    The Sensex and Nifty opened marginally higher on Tuesday morning, tracking weak global cues. The Sensex is up 30 points to 37,838.36, while the Nifty is trading below the 11,400-mark. IT shares are trading lower in the morning trade with Infosys shares 2% lower at Rs 721, while Tech Mahindra shares are down by more than 1.4% to Rs 778.85. Jet Airways shares extended rally for the second consecutive day after Naresh Goyal stepped down as the Chairman of the board. Jet Airways shares gained more than 8.5% to hit the day's high at Rs 275.70 on NSE.  A look at LIVE Sensex heatmap.

    09:18 (IST)26 Mar 2019
    Mindtree takeover battle: Why L&T’s promise to run Mindtree independently is flawed

    Larsen & Toubro’s move to scale up in IT miscomputes. The Indian engineering-to-financial services conglomerate, led by AM Naik, has initiated a hostile bid for control of Mindtree, valuing the Mumbai-listed outsourcer at 155 billion rupees ($2.2 billion). Yet the suitor’s promise to run the outfit independently, outside its existing IT businesses, undermines the whole venture. It’s a multi-stage bid. Pending regulatory approvals, $28 billion L&T wants to pick up 20 percent of its target through the top shareholder, an operator of a large coffee chain, at 980 rupees per share. 

    Read more: Mindtree takeover battle: Why L&T’s promise to run Mindtree independently is flawed

    09:15 (IST)26 Mar 2019
    RBI’s swap mechanism to boost liquidity, says Subhash Chandra Garg

    The finance ministry on Monday said the liquidity situation in the economy was “comfortable”, and it will improve further with the central bank’s move to infuse Rs 35,000 crore through the rupee-dollar swap arrangement, announced last week. Economic affairs secretary Subhash Chandra Garg said the RBI’s swap arrangement is a “sound move.”

    Read full story here: RBI’s swap mechanism to boost liquidity, says Subhash Chandra Garg

    09:14 (IST)26 Mar 2019
    Khadi spins a success story, sales top Rs 3,200 crore in FY19

    The Khadi Gram Udyog Bhawan, a 20,000-square feet outlet in the heart of Connaught Place, recorded sales of Rs 1 crore or more a day at least three times between October and November 2018 when it ran a discount scheme, eclipsing those of most high-profile stores in the vicinity. In 2017-18, the Bhawan alone sold products worth a record Rs 103 crore.

    Also read: Khadi spins a success story, sales top Rs 3,200 crore in FY19

    09:13 (IST)26 Mar 2019
    Ex-McKinsey chief Rajat Gupta is unrepentant for his crimes

    Rajat Gupta had been moved to a larger part of the prison when he came face to face with his nemesis, Raj Rajaratnam. Rajaratnam, a disgraced hedge fund manager, hadn’t always been Mr. Gupta’s nemesis. For a long time, they were close—so close that a jury was convinced Gupta had slipped him boardroom secrets so that Rajaratnam could trade on inside information. Gupta—once a member of the financial elite as the head of McKinsey, a board member of Goldman Sachs and an adviser to Bill Gates—had been convicted of securities fraud in 2012 as part of Rajaratnam’s insider-trading ring. He was sentenced to two years in prison.

    Also read: Ex-McKinsey chief Rajat Gupta is unrepentant for his crimes

    09:12 (IST)26 Mar 2019
    Jet Airways revival: Naresh Goyal steps down, lenders take charge

    After several weeks of speculations and uncertainties about the future course of Jet Airways, a blueprint for revival emerged on Monday, according to which the airline’s founder-chairman Naresh Goyal and his wife Anita Goyal will step down from the board. The cash-strapped airline will also receive an immediate funding of Rs 1,500 crore under a bank-led resolution plan. Apart from the Goyals, one nominee of Etihad Airways PJSC, Kevin Knight, will also step down from the board. In effect, two nominees of the promoter will continue on the board and one nominee of Etihad. Two nominee directors representing lenders will be inducted into the board, Jet Airways told in a filing to the stock exchanges after its board meeting.

    Also read: Jet Airways revival: Naresh Goyal steps down, lenders take charge

    09:02 (IST)26 Mar 2019
    Top stocks on radar; DLF, Jet Airways, Mindtree to be in focus today, here is why

    DLF: Realty major DLF issued its QIP to sell up to 17.3 crore equity shares or 9.69%stake to raise over Rs 3000 crore, as per media reports.

    NTPC: Four new plants of state-owned NTPC worth $5 billion to begin generation in six days.

    ICICI Prudential:  Prudential Corporation Holdings Ltd will sell 3.71 per cent stake in ICICI Prudential Life Insurance for a floor price of Rs 300 per share, the company said Monday in an exchange filing.

    Mindtree: Mid-sized software services company Mindtree ’s board will meet today to take a call on share buyback proposal to ward off Larsen &Toubro’s hostile takeover.

    Also read: Top stocks on radar; DLF, Jet Airways, Mindtree to be in focus today, here is why

    08:42 (IST)26 Mar 2019
    Oil prices rise amid supply cuts, but economic slowdown looms

    Oil prices firmed on Tuesday, pushed up by ongoing supply cuts led by producer club OPEC and by U.S. sanctions on Iran and Venezuela, but analysts warned that signs of a sharp economic slowdown could soon drag on crude markets. Brent crude oil futures were at $67.46 per barrel at 0110 GMT, up 25 cents, or 0.4 percent, from their last close. U.S. West Texas Intermediate (WTI) futures were at $59.31 per barrel, up 49 cents, or 0.8 percent, from their last settlement. Oil prices have been supported for much of 2019 by efforts by the Organization of the Petroleum Exporting Countries (OPEC) and non-affiliated allies like Russia, who have pledged to withhold around 1.2 million barrels per day (bpd) of supply this year to prop up markets.

    Also read: Oil prices rise amid supply cuts, but economic slowdown looms

    08:41 (IST)26 Mar 2019
    Gold near one-month peak as yields, equities slide

    Gold prices were steady on Tuesday and hovered near one-month high hit in the previous session, as demand for safe-haven assets improved after treasury yields and equities fell on possible U.S. recession and global growth concerns. Spot gold was unchanged at $1,321.74 per ounce as of 0123 GMT, after touching its highest since Feb. 28 at $1,324.33 in the previous session. U.S. gold futures were also down 0.1 percent at $1,320.70 an ounce. Asian shares were shaky on Tuesday after U.S. Treasury yields sank to their lowest since late 2017, further below short-term interest rates and adding to fears of a U.S. recession.

    Also read: Gold near one-month peak as yields, equities slide

    08:39 (IST)26 Mar 2019
    Asian shares shaky as U.S. bond yields hit lowest since late 2017

    Asian shares were shaky on Tuesday after U.S. Treasury yields sank to their lowest since late 2017, further below short-term interest rates and adding to fears of a U.S. recession. MSCI’s broadest index of Asia-Pacific shares outside Japan was flat in early trade after two days of losses. Japan’s Nikkei rebounded 1.1 percent after a 3.0 percent fall on Monday. Wall Street shares were little changed on Monday with the S&P 500 ending with a small loss of 0.08 percent.

    Also read: Asian shares shaky as U.S. bond yields hit lowest since late 2017

    Share market on Monday: After extending losses in the afternoon trade on Monday, the Sensex and Nifty made a mild recovery in the last hour trade. The Sensex  closed 355.70 points down at 37,808.91, while the Nifty closed near the 11,350-mark. Vedanta shares closed 3.2% lower at Rs 168.35, while Tata Motors shares ended 2.3% down at Rs 171.35. Jet Airways share price closed 12.7% higher at Rs 254.50, after the firm confirmed that Naresh Goyal has stepped down from the board from the airline.
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