Share market HIGHLIGHTS: Sensex gains 157 points, Nifty ends at 11,847; Infosys major loser

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Updated:Jun 26, 2019 3:50:13 pm

The Indian headline indices- Sensex and Nifty ended higher after a lower start in the morning amid weak global cues. Infosys was the biggest loser.

Share Market Live, Stock Market Live, Nifty Live, NSE live, BSE live, Live Market Update, Market Today, स्टॉक मार्केट, शेयर बाजार, Indian Share Market Live, Indian Stock Market LiveSensex, Nifty to open lower amid weak global cues

The Indian headline indices- Sensex and Nifty ended higher after a lower start in the morning amid weak global cues. While the Sensex ended at a level of  39,592, up 157 points from the previous close, the broader Nifty settled at 11,847 level, up 51 points from the previous close. The crude oil prices surged more than 1 per cent on Wednesday to touch their highest in nearly a month on account of higher-than-expected fall in US crude inventory and US-Iran geopolitical tensions. 

The major gainers on BSE are Sun Pharma, Power Grid, Yes Bank, NTPC and Bajaj Finance, while the leading losers are IndusInd Bank, Tata Motors and Bharti Airtel.  Shares of Reliance Capital surged around 12.72 per cent in the intraday trading on Wednesday.

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Highlights

    14:37 (IST)26 Jun 2019
    As stock markets trade higher, this analyst tells investors what to do going ahead

    Even as the markets are trading at record levels, the rally is being led by limited stocks, said a market analyst. Apart from IT stocks, no other sector has helped the market to near 12,000-mark, Gautam Shah, associate director and technical analyst, JM Financial told CNBC TV18. A weakness could be seen in the major sectoral indices including banking, FMCG, oil and gas, he also said, adding ITC and other top FMCG stocks seem weak. The markets may find resistance at the higher levels and it appears difficult for Nifty to sustain beyond the levels, he added. “If at some point Nifty breaks 11,600, which is our view, chances of 4-5 percent dip is likely. So, rallies must be used as selling opportunities,” he noted.

    Read more: As stock markets trade higher, this analyst tells investors what to do going ahead

    14:03 (IST)26 Jun 2019
    Only one country’s companies are more optimistic than India about growth despite global slowdown

    Indian businesses have the second most optimistic outlook after Indonesia, as almost nine in ten (89 per cent) Indian firms expect to grow over the next two years, says an HSBC survey. The survey on more than 2,500 companies across 14 markets in the world showed that businesses in India are very optimistic about their growth prospects, despite subdued macro-economic conditions.

    Read more: Only one country’s companies are more optimistic than India about growth despite global slowdown

    13:35 (IST)26 Jun 2019
    Private equity investment in real estate rose 26 per cent in the first half of this year to USD 3.9 billion

    Private equity investment in real estate rose 26 per cent in the first half of this year to USD 3.9 billion (nearly Rs 28,000 crore) driven by higher inflow in commercial and warehousing projects, according to property consultant Colliers. PE inflows from foreign investors increased 28 per cent during the first six months of the 2019 calendar year. "During the first six months of 2019, the real estate sector witnessed private-equity (PE) inflows of USD 3.9 billion (Rs 27,767 crore), eclipsing the first halves of previous years," Colliers International said in a report.

    Read more: Private equity investment in real estate rose 26 per cent in the first half of this year to USD 3.9 billion

    12:35 (IST)26 Jun 2019
    Budget 2019: Sops for affordable housing, increased bank funding may be on cards

     With different sectors reeling under stress owing to slowdown, NBFC crisis, global concerns and mounting NPAs, Nirmala Sitharaman is expected to propose measures to revive the economy. Even the real estate sector, a key contributor to the GDP, is pinning hopes on Finance Minister to provide tax benefits, lower interest rates to boost affordable housing, along with other benefits to kick start the sector. The industry expects the budget to come up with further tax sops to both homebuyers and investors.

    Read more: Budget 2019: Sops for affordable housing, increased bank funding may be on cards

    12:34 (IST)26 Jun 2019
    Most of the sectoral indices trade in green except FMCG/IT

    12:21 (IST)26 Jun 2019
    Reliance Infra bags Rs 7,000-cr Versova-Bandra Sea Link project in Mumbai

    Reliance Infrastructure Wednesday said it has bagged Rs 7,000 crore Versova-Bandra Sea Link project contract from Maharashtra State Road Development Corporation (MSRDC) in Mumbai. (PTI)

    12:10 (IST)26 Jun 2019
    BSE Heatmap

    11:52 (IST)26 Jun 2019
    IT stocks drag

    11:43 (IST)26 Jun 2019
    Rating agency downgrades Piramal Capital & Housing Finance

    ICRA downgrades Piramal Capital & Housing Finance rating to AA from AA ; outlook negative, CNBC TV 18 reported.

    11:34 (IST)26 Jun 2019
    Major gainers on Nifty

    11:22 (IST)26 Jun 2019
    Brokerage on UltraTech Cement

    A strong recovery in its operating performance in 4QFY19 and likely further improvement in ensuing quarters led by superior realisations are likely to aid UTCEM. Further, a consistent approach to trim down cost along with the focus on improvement in RoCE by balance-sheet de-leveraging augurs well for UTCEM. Going forward, we expect demand recovery post monsoon followed by increase in government spending and recovery in private capex is likely to ensure healthy volume growth. Further, completion of a deal with Century Textile is likely to be a key catalyst for the stock. We marginally tweak our estimates and upgrade our target multiple marginally from 14x to 14.5x. We maintain our BUY recommendation on the stock with a revised SOTP-based Target Price of Rs 5040 (from Rs 4,850), said Reliance Securities in a report.

    11:06 (IST)26 Jun 2019
    Asia stocks dip after Fed tapers aggressive easing expectations

    Asian stocks dipped on Wednesday and the dollar inched up from three-month lows after Federal Reserve officials tempered expectations in the markets for aggressive monetary easing. In early European trade, the pan-region Euro Stoxx 50 futures were down 0.29%, German DAX futures lost 0.31% and Britain's FTSE futures slipped 0.26%. (Reuters)

    11:01 (IST)26 Jun 2019
    China stocks slip as financials weigh; Hong Kong up

    China stocks eased on Wednesday as financials firms weighed on the market, and as investors exercised caution ahead of the meeting between U.S. President Donald Trump and his Chinese counterpart Xi Jinping. (Reuters)

    10:58 (IST)26 Jun 2019
    Power Grid shares hit 13-month high

    The shares of Power Grid hit its 13-month high in the intra-day trading on Wednesday. It gained 3.32% to Rs 208.3, highest since May 31, 2018

    10:48 (IST)26 Jun 2019
    TVS Motors shares fall on rating downgrade

    The shares of TVS Motors fell around 1 per cent after brokerage firm Citi maintained Sell position on the stock. The global brokerage reduced its target price to Rs 430 per share from Rs 455 per share earlier. 

    10:31 (IST)26 Jun 2019
    BSE Heatmap

    09:55 (IST)26 Jun 2019
    API says US oil inventories fell 7.5mbls last week

    According to preliminary data released by the API, oil inventories in the US fell by 7.5 million barrels last week, while markets expected a drop by 3 million barrels. The unofficial data showed that gasoline stocks fell by 3.2mbls while distillate stocks rose by 160,000 barrels last week.

    09:50 (IST)26 Jun 2019
    Reliance Infrastructure gains 9.25 per cent

    The shares of Reliance Infrastructure has gained more than 9 per cent in the early trade on Wednesday. The stock had opened marginally up at Rs 52.50 against the previous close of 51.90 per share on Wednesday..

    09:45 (IST)26 Jun 2019
    Major losers among Nifty50

    09:42 (IST)26 Jun 2019
    US-China trade spat, Iran tensions to dominate weighty G20

    The trade battle between the US and China and fears that spiralling tensions with Iran could erupt into conflict are poised to dominate a high-stakes G20 summit from Friday. With hotspots North Korea and Venezuela and a slowing world economy also high on the agenda, the two-day gathering of leaders from the world's group of 20 leading nations in Osaka, Japan, could be one of the most pivotal in years, analysts say. (Reuters)

    09:36 (IST)26 Jun 2019
    Emami shares gain 4 per cent

    Shares of Emami gained 4 per cent in the early trade on Wednesday. The company in a statement on Monday said the promoters of Emami Group had undertaken a stake sale 10% in Emami Limited for raising approximately Rs 1,230 crores to further reduce debt at the promoter level. The stake sale occurred on the floor of the stock exchange to marquee institutional investors. The total promoter stake in Emami Limited subsequent to the stake sale, stands at a controlling majority of 52.74%. The promoters intend to maintain this controlling majority stake in Emami Limited without further diluting it. 

    09:30 (IST)26 Jun 2019
    Sensex, Nifty trade higher after tepid start

    After a weak start, the Indian benchmark indices- Sensex and Nifty are trading higher. While Sensex is up 54 points at 39,488 level, Nifty is at 11,803 level, up 6 points from the last close. 

    09:23 (IST)26 Jun 2019
    Sectoral indices trade mixed

    09:22 (IST)26 Jun 2019
    BSE Heatmap

    09:03 (IST)26 Jun 2019
    Rupee opens lower at 69.40 per dollar

    The Indian currency Rupee opened lower at 69.40 per dollar against the previous close of 69.34 per dollar on Wednesday amid rising crude oil prices.

    08:50 (IST)26 Jun 2019
    IndiaMART IPO fully subscribed on day 2; all you need to know

    The public issue of IndiaMART InterMESH was fully subscribed on the second day of bidding Tuesday. The initial public offer (IPO) of the online marketplace for business products and services received bids for 27,94,440 shares against the total issue size of 26,92,824 shares, implying 1.04 times subscription, according to the NSE data. The IPO, which aims to raise nearly Rs 475 crore, was subscribed 1.05 times by the qualified institutional buyers (QIBs), 4 times by the non-institutional investors and 2.48 times by the retail individual investors, the exchange data showed.

    Read more: IndiaMART IPO fully subscribed on day 2; all you need to know

    08:44 (IST)26 Jun 2019
    Tata Steel: Should you Buy or Sell; here's what expert says

    Our analysis of Tata Steel’s (Tata) FY19 annual report indicates that, operationally, the company continues to shine (with Shikar programme delivering another year of big cost savings Rs28bn). However, the strategic intent to attain industry leadership in terms of capacity remains at odds with deleveraging – and this is indeed a key concern. We maintain our SELL rating on the stock with an unchanged target price of Rs411/share, said ICICI Securities.

    Read more: Tata Steel: Should you Buy or Sell; here's what expert says

    08:42 (IST)26 Jun 2019
    Banks’ gross NPAs to shrink to 8% by March 2020

    Reduction in fresh accretions to non-performing assets (NPAs), higher recoveries from existing stressed assets under the Insolvency and Bankruptcy Code and a pick-up in credit growth should help shrink banks’ gross NPAs by 350 basis points to 8% by March 2020, Crisil said in a report on Tuesday. (Reuters) 

    Read more: Banks’ gross NPAs to shrink to 8% by March 2020

    08:40 (IST)26 Jun 2019
    Global markets: Asia stocks slip after Fed tempers aggressive rate cut expectations

    Asian stocks slipped on Wednesday and the dollar pulled back from three-month lows after Federal Reserve officials tempered expectations in the markets for aggressive monetary easing. Fed Chair Jerome Powell on Tuesday said the central bank is “insulated from short-term political pressures,” pushing back against U.S. President Donald Trump’s demand for a significant rate cut. Powell, however, said Fed policymakers are wrestling with whether uncertainties around U.S. tariffs, Washington’s conflict with trading partners and tame inflation require a rate cut. (Reuters)

    Read more: Global markets: Asia stocks slip after Fed tempers aggressive rate cut expectations

    08:39 (IST)26 Jun 2019
    Oil prices climb amid fall in US stockpiles, Middle East worries

    Oil prices rose over 1% on Wednesday to hit their highest in nearly a month as widely-watched data showed U.S. crude stockpiles fell more than expected, underpinning a market already buoyed by worries over potential U.S.-Iran conflict. Front-month Brent crude futures, the international benchmark for oil prices, were up 1.4% at $65.97 by 0006 GMT. They earlier touched their highest since May 31 at $66.00 a barrel. U.S. West Texas Intermediate (WTI) crude futures were at $58.97 per barrel, up 2% from their last settlement. (Reuters)

    08:38 (IST)26 Jun 2019
    Gold off six-year peak as dollar rises after Fed comments

    Gold prices slipped on Wednesday, moving further away from a six-year peak hit in the previous session, as the dollar gained after Federal Reserve officials played down expectations of aggressive monetary easing.

    Read more: Gold off six-year peak as dollar rises after Fed comments