Share Market Highlights: Sensex ends 342 points higher, Nifty above 10,850; TCS, Infosys shares top gainers

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Updated:Feb 25, 2019 3:53:38 pm

Track Live Share Market Highlights: The Sensex ended 342 points higher at 36,213.38, while Nifty closed 88 points higher at 10,880.10. TCS shares gained more than 3% to Rs 1,985. Infosys shares closed 3% higher at Rs 754.90.

Promoters of 28 firms from BSE 500 pledge 50% of their holdings in Q3 Indian Stock Market Highlights: TCS shares gained more than 3% to Rs 1,985. Infosys shares closed 3% higher at Rs 754.90.

Share market Highlights: After opening marginally higher tracking positive global cues, the Sensex and Nifty extended gains in the afternoon trade on Monday, buoyed by a rally in IT bluechips. The Sensex ended 342 points higher at 36,213.38, while Nifty closed 88 points higher at 10,880.10. TCS shares gained more than 3% to Rs 1,985. Infosys shares closed 3% higher at Rs 754.90.

After today’s rally, the Sensex has turned positive for the year. Stocks staged a strong comeback on Monday on heavy foreign fund inflows and increased buying by domestic institutional investors. Infosys share price jumped by more than 3% to Rs 756, while TCS shares gained more than 3.5% to Rs 1,985.50. 

Earlier, the S&P 500 posted its highest closing level since Nov 8 on Friday as investors clung to signs of progress in the ongoing trade talks between the United States and China. Investors assessed a slew of headlines on the talks, with top trade negotiators from the two countries meeting to wrap up a week of discussions on some of the thorniest issues in their trade war, Reuters reported.

Asian shares scaled a 5-month peak on Monday after U.S. President Donald Trump confirmed he would delay a planned increase on Chinese imports as talks between the two sides were making “substantial progress”. The Australian dollar, a liquid proxy for China investments, got a 0.4 percent lift from the news and the dollar touched a fresh seven-month low on the yuan, Reuters reported. 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

    15:49 (IST)25 Feb 2019
    BSE Live: Sensex ends 342 points higher, Nifty above 10,850; TCS, Infosys shares top gainers

    After opening marginally higher tracking positive global cues, the Sensex and Nifty extended gains in the afternoon trade on Monday, buoyed by a rally in IT bluechips. The Sensex ended 342 points higher at 36,213.38, while Nifty closed 88 points higher at 10,880.10. TCS shares gained more than 3% to Rs 1,985. Infosys shares closed 3% higher at Rs 754.90. After today's rally, the Sensex and Nifty have turned positive for the year. A look at LIVE Sensex heatmap. 

    15:11 (IST)25 Feb 2019
    BSE Live: Sensex extends gains, Nifty above 10,850; Infosys, TCS gain more than 3%

    After opening marginally higher tracking positive global cues, the Sensex and Nifty extended gains in the afternoon trade on Monday, buoyed by a rally in IT bluechips. After today's rally, the Sensex has turned positive for the year. Stocks staged a strong comeback on Monday on heavy foreign fund inflows and increased buying by domestic institutional investors. Infosys share price jumped by more than 3% to Rs 756, while TCS shares gained more than 3.5% to Rs 1,985.50. A look at LIVE Sensex heatmap.

    14:55 (IST)25 Feb 2019
    Modi’s $100 billion FDI blueprint faces a big hurdle as government loses early momentum

    While India works on a blueprint to increase foreign direct investment (FDI) inflows into the country to $100 billion, the government data shows a slowing trend. Commerce and industry minister Suresh Prabhu on Saturday said that the government plans to raise FDI inflows to $100 billion through a targeted approach. However, the recent data released by the Department of Promotion of Industry and Internal trade (DPITT) shows that the FDI inflows in India contracted by 7 per cent in the current financial year so far, indicating India’s fading attractiveness to foreign investors.

    Also read: Modi’s $100 billion FDI blueprint faces a big hurdle as government loses early momentum

    14:23 (IST)25 Feb 2019
    Nirmal Jain plays down concerns after SEBI rules IIFL's commodity arm 'not fit and proper'

    After capital markets regulator SEBI ruled IIFL's commodities arms not “fit and proper” to act as commodity derivative brokers, group founder Nirmal Jain said that the order is restricted to IICL, and will not have any impact on the other businesses of the group. "The Commodity business contributes to less than 0.2% of the total company's profit," Nirmal Jain said in an interview to CNBC TV18. There are no unlawful gains mentioned in the SEBI order, and nothing specifically mentioned about the IIFL group, he added. Jain further clarified that IIFL's loan against shares are minimal. The SEBI order puts an end to uncertainty with respect to developments over the NSEL issue.

    13:54 (IST)25 Feb 2019
    MF Industry update: AUM grows to Rs 23 lakh crore; growth lowers

    “The Indian Mutual Fund (MF) industry grew to Rs.23.37 lk cr in Jan19, registering a growth of 9.4% over March-18, which translates to an asset base addition of Rs. 2.01 lk cr in FY19 (up to Jan-19). However, this growth rate of 9.4% is much lower compared with the growth of 28%, witnessed in Jan-18 over March-17. Along with the growth in AUMs, the industry has also witnessed a growth in number of folios. As of Jan-19, Indian MF industry had a total of 809 lakh folios, out of which ~76% were of equity/growth oriented schemes, ~14% of debt/income oriented schemes, ~8% of balanced schemes and remaining ~2% of Exchange Traded Funds (ETFs) and fund of funds investing overseas.” CARE Ratings noted in a report.

    12:58 (IST)25 Feb 2019
    Expert take: SIP strategy for investors to tide over volatility

    "Retail investors have to understand that returns from equity as an asset class, while, will outperform in the long-run, its returns will continue to be non-linear with bouts of volatility. One should stay invested and add if possible through SIP during volatile times to get the best out of the market cycles," says Aruna Giri N or TrustLine Holdings. 

    Also read: How to invest in a volatile stock market amid liquidity fears, political uncertainty

    12:12 (IST)25 Feb 2019
    Modi govt, NITI Aayog interference undermining economic data reliability, says statistician who resigned

    Government interference is undermining the integrity of India’s statistics apparatus, a former head of the country’s apex statistical body said, raising questions about the reliability of data from an economy poised to be the world’s fifth-largest. P. C. Mohanan, the former acting head of the National Statistical Commission, said questions raised about the agency’s work by a government think tank, the withholding of a jobs report and the lack of enough statisticians were taking a toll on the institution. He, along with another colleague, resigned in January in protest.

    Also read: Modi govt, NITI Aayog interference undermining economic data reliability, says statistician who resigned

    11:45 (IST)25 Feb 2019
    BSE Live: Sensex holds gains, Nifty above 10,800; RCom down 7%; ICICI Bank shares gain

    After opening marginally higher tracking positive global cues, the Sensex and Nifty are holding on to gains. Stocks staged a strong comeback on Monday Monday, with the BSE Sensex reclaiming the 36,000-mark by surging over 100 points on heavy foreign fund inflows and increased buying by domestic institutional investors. The Sensex is up about 102 points to 35,974.16, while the Nifty is trading above the 10,800-mark. A look at LIVE Sensex heatmap.

    11:30 (IST)25 Feb 2019
    Reliance Communications share price slumps 7%; firm approaches NCLAT for release of funds

    Shares of billionaire Ail Ambani-led Reliance Communications tanked in trade on Monday late morning, after the firm approached the NCLAT seeking permission for release of funds. Reliance Communications share price tanked by more than 10% to hit the day's low at Rs 5.91. NCLAT will hear Reliance Communications' petition on Wednesday.

    11:04 (IST)25 Feb 2019
    Motilal Oswal, IIFL Holdings shares slump after SEBI rules commodity arms 'not fit and proper'

    Shares of Motilal Oswal Financial Services and IIFL Holdings slumped in trade on Monday morning, after stock market regulator SEBI ruled that the firms' commodities arms are not “fit and proper” to act as commodity derivative brokers in connection with the Rs 5,600-crore scam at the now defunct NSEL. Motial Oswal Financial Services share price slumped by more than 5% in the morning trade on NSE to Rs 579.50. IIFL Holdings shares plunged by more than 6% on NSE, to hit the day's low at Rs 336.

    Also read: Motilal Oswal, IIFL Holdings shares slump after SEBI rules commodity arms 'not fit and proper'

    10:42 (IST)25 Feb 2019
    Gold inches up as dollar eases on Sino-US trade hopes, palladium hits record

    Gold prices edged up on Monday as the dollar eased after U.S. President Donald Trump said he would delay an increase in tariffs on Chinese goods as trade talks between the two nations were making progress, while palladium hit a record-high.  Spot gold was up 0.1 percent at $1,329.16 per ounce at 0056 GMT. U.S. gold futures dipped 0.2 percent to $1,330.8 per ounce.  Spot palladium, which hit a record-high of $1,505 per ounce in early trade, was up 0.3 percent at $1,502.

    Also read: Gold inches up as dollar eases on Sino-US trade hopes, palladium hits record

    10:05 (IST)25 Feb 2019
    Rupee gains 16 paise against US dollar in early trade

    The rupee firmed 14 paise to 70.98 against the dollar in opening trade Monday after the greenback came under pressure against some currencies amid foreign fund inflows and a higher opening of domestic equity markets. Forex dealers said weakness in the dollar against some other currencies overseas as expectations of a trade deal between the US and China, and foreign capital inflows in the domestic equity markets supported the rupee. At the interbank forex market, the rupee opened with strength at 71 and advanced further to quote 16 paise higher at 70.98 against the dollar. (PTI reported)

    09:30 (IST)25 Feb 2019
    BSE Live: Sensex up 130 points, Nifty above 10,800; Jet Airways down 5%, Tata Motors up 1.5%

    The stock markets- Sensex and Nifty opened marginally higher tracking positive global cues. The Sensex is up about 150 points to 36,022.42, while the Nifty is trading above the 10,800-mark. Jet Airways share price slumped by more than 5% in the morning trade to hit the day's low at Rs 225 on NSE, while Tata Motors share are trading 1.4% higher at Rs 508.90.  A look at LIVE Sensex heatmap.

    09:12 (IST)25 Feb 2019
    Subdued animal spirit: Private investment slumbers as uncertainties fester

    The recent GDP revisions for 2016-17 and 2017-18 would have surprised even an ardent supporter/admirer of the Central Statistical Office (CSO). Unwittingly though, it has made the lives of doubters like this author a lot easier! For, those who repeatedly pointed to the dissonance between these GDP estimates and other lead indicators can now assert with reasonable certainty that the Indian economy has two parallel narratives: One that paints a fairly rosy picture based upon official statistics,describing the country as the “fastest growing large economy in the world”, and another, quite the opposite, of one bogged down by subdued economic activity that has failed to ignite the animal spirit of investment.

    Also read: Subdued animal spirit: Private investment slumbers as uncertainties fester

    09:11 (IST)25 Feb 2019
    Stock market crash: RBI, SEBI caught napping, should have kept a closer watch

    One needs to respect the professional judgment of mutual fund managers when it comes to any stand-still agreements they may enter into with borrowers. After all, if the NAV of a scheme falls because the fund manager didn’t sell the shares in time, and the price tanks, the reputation of the fund will be at stake. However, that RBI is frowning on such an arrangement is not surprising. The regulator’s concerns revolve around the chances of such unhealthy practices triggering a liquidity crisis in the financial markets. One default is enough to shatter investor confidence and trigger redemptions from MFs. 

    Also read: Stock market crash: RBI, SEBI caught napping, should have kept a closer watch

    09:10 (IST)25 Feb 2019
    Fresh trouble for Jet Airways as SBI weighs NCLT route to recover loans

    State Bank of India (SBI) is mulling moving the National Company Law Tribunal (NCLT) to recover its loans from Jet Airways as it feels the airline is running out of funds for operations, even as shareholders of the debt-laden carrier have approved a debt rejig plan, officials said. Shareholders of Jet Airways have approved conversion of loan into shares and other proposals during the extraordinary general meeting (EGM) on Thursday. A consortium of banks, led by the SBI, has extended loans to Jet Airways, which is looking to rejig debt and raise funds.

    Also read: Fresh trouble for Jet Airways as SBI weighs NCLT route to recover loans

    09:09 (IST)25 Feb 2019
    Global markets: Asia cheered as Donald Trump delays tariff deadline

    Asian share markets looked well set on Monday after U.S. President Donald Trump said he would delay a planned increase on Chinese imports as talks between the two sides were making “substantial progress”. The Australian dollar, a liquid proxy for China investments, got a mild lift from the news and further gains were expected for the yuan. MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.14 percent to the highest since October, and is up 10 percent for the year so far.

    Also read: Global markets: Asia cheered as Donald Trump delays tariff deadline

    09:08 (IST)25 Feb 2019
    Reality check! Stellar growth in income tax e-returns, but not in the taxpayer base

    The stellar growth in income-tax e-returns filing by all categories of taxpayers over the last four years indicates higher compliance but not as much a widening of the tax base. The effective taxpayer base — which includes those who pay taxes but don’t file returns — has seen a slower growth compared with e-returns filing. While the number of e-returns filed between assessment year (AY) 2013-14 to AY 2017-18 grew by an average 25% per year, the effective taxpayer base expanded by an average of 9% only, registering double-digit growth rates in only two of these years (see chart).

    Also read: Reality check! Stellar growth in income tax e-returns, but not in the taxpayer base

    09:08 (IST)25 Feb 2019
    Singapore largest FDI source, leaves Mauritius far behind

    Months before India’s new double taxation avoidance agreements with them are to kick in fully, Singapore has beaten Mauritius to emerge as New Delhi’s largest source of foreign direct investment (FDI). FDI in equity from Singapore jumped 41% in the April-December period to almost $13 billion, while that from Mauritius dropped 55% from a year before to just $6 billion, showed the latest official data.

    Also read: Singapore largest FDI source, leaves Mauritius far behind

    Share market on Friday: The stock markets–Sensex and Nifty ended Friday’s session lower, tracking weak global cues. The Sensex closed 27 points down at 35,871.48, while the Nifty closed below the psychological 10,800-mark. Kotak Mahindra Bank shares closed 3.8% lower to Rs 1,240.05 on BSE in the morning trade on Friday, after ING is set to sell 1.2% stake via block deals at Rs 1,225-1,250 per share. RIL shares closed 1.25% down at Rs 1,231.
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