Share market HIGHLIGHTS: Sensex loses 71 points, Nifty ends below 11,700 mark; ONGC biggest loser

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Updated:Jun 24, 2019 3:42:27 pm

Indian headline indices-Sensex and Nifty ended lower on Monday amid rising crude oil prices and trade tensions between US and China. 

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 flat tracking weak global markets

Indian headline indices-Sensex and Nifty ended lower on Monday amid rising crude oil prices and trade tensions between US and China.  While the Sensex lost 71 points to end at 39,122.96, the Nifty50 is trading at a level of 11,699.65, down 24.45 points from the last close. Both the indices- Sensex and Nifty had ended lower on Friday amid US-China trade worries and geopolitical tensions in the Middle East. The crude oil prices soared on Monday amid escalating tensions between Iran and the US. The US Secretary of State Mike Pompeo said “significant” sanctions on Tehran would be announced in a bid to choke off resources being used to fund terror activities in the region. Pompeo is travelling to Saudi Arabia and the United Arab Emirates to hold talks on Iran. 

The major gainers on BSE are Yes Bank, M&M and TCS, while the losers are Vedanta, Tata Steel, Bajaj Auto and ONGC. Barring PSU Bank and FMCG, all the sectoral indices ended in red on NSE.

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15:15 (IST)24 Jun 2019
NTPC signs joint venture agreement with Power Grid

NTPC has signed a Joint Venture Agreement with Power Grid Corporation of India Limited (POWERGRID) to incorporate a Joint Venture Company (JVC) between NTPC and POWERGRID with equity participation of 50:50 respectively with an objective to undertake the business for distribution of electricity in distribution circles in various States and Union Territories of India and other related activities. The aforesaid JVC shall be incorporated only after obtaining necessary approvals of the Governmen

14:55 (IST)24 Jun 2019
Future Enterprises plans to raise up to Rs 900 cr via NCDs

Kishore Biyani-led Future Enterprises Monday announced plans to raise up to Rs 900 crore through issuance of non-convertible debentures (NCDs) on private placement basis. The company plans to raise funds to replace "few of its high cost current or near term maturity debts as well as to meet further funds requirements". (PTI)

14:35 (IST)24 Jun 2019
SBI Life Insurance shares rally 2 per cent

Shares of SBI Life Insurance rallied 2 per cent after brokerage house Morgan Stanley said the company can deliver strong growth across cycles and premiums are expected to grow at 17 per  cent CAGR over FY19-21.

14:20 (IST)24 Jun 2019
BSE Heatmap

14:08 (IST)24 Jun 2019
Bimal Jalan panel report delayed again; here’s why it was deferred for fourth time

Bimal Jalan panel, formed to suggest guidelines for transfer of the RBI’s surplus funds to the government, delayed its report scheduled to be submitted on Monday, global news agency Reuters reported citing an unidentified official. The report has now been deferred for the fourth time. The six-member panel, headed by Former RBI Governor Bimal Jalan, which was originally supposed to submit the report in April, deferred the report owing to lack of consensus, it added. The report would now be submitted post-budget in July, it added. The next meeting will take place in July this year. 

Read more: Bimal Jalan panel report delayed again; here’s why it was deferred for fourth time

13:41 (IST)24 Jun 2019
Australian shares end steady ahead of trade talks; NZ at record high

Australian shares ended steady on Monday as investors kept a cautious stance ahead of the G20 summit, which will be watched by markets for signs of de-escalation in the Sino-U.S. trade conflict. China's state-run news agency Xinhua said President Xi Jinping would attend the Group of 20 meeting in Japan this week, giving the first official confirmation of his attendance at the gathering where he is expected to discuss trade with his U.S. counterpart Donald Trump.The G20 summit will be held in the city of Osaka on June 27-29. The outcome from negotiations between Xi and Trump would set the tone for the trading week, CMC Markets chief market strategist Michael McCarthy said. (Reuters)

13:36 (IST)24 Jun 2019
Dollar struggles after biggest weekly drop in 4 months; G20 eyed

The dollar was on the back foot on Monday after sustaining its biggest weekly drop in four months last week as traders remained cautious about the prospects of trade talks between the United States and China at this week's G20 summit. The greenback has been on the receiving end of a broad market selloff in major currencies as global central banks led by the U.S. Federal Reserve signaled a dovish outlook on monetary policy due to growing signs of a weak global economy.The dollar fell 1.4% against other currencies last week , its biggest weekly drop since mid-February. On Monday, it edged 0.1% lower to 96.11. (Reuters)

13:29 (IST)24 Jun 2019
Crude oil futures rise 0.82 pc on global cues

Crude oil prices rose 0.82 per cent to Rs 4,050 per barrel in futures trade Monday as speculators created fresh positions taking positive cues from global markets. On the Multi Commodity Exchange, crude oil for delivery in July contracts was trading higher by Rs 33, or 0.82 per cent, to Rs 4,050 per barrel in a business turnover of 15,884 lots. Analysts said speculative positions built up by traders tracking a better trend overseas mainly influenced sentiments at futures prices here. Meanwhile, West Texas Intermediate (WTI) crude oil gained 0.64 per cent to USD 57.80, while global benchmark Brent advanced 0.35 per cent to USD 65.43 per barrel. (PTI)

12:39 (IST)24 Jun 2019
Glenmark to partner with Novartis to promote, commercialize and distribute three respiratory products in Brazil

Glenmark Pharmaceutical's Brazilian arm has entered into a partnership with Novartis Biosciences SA,a subsidiary of Novartis AG, for three respiratory products indicated towards the treatment of thesymptoms of chronic obstructive pulmonary disease (COPD) in Brazil. This agreement will be effectivefrom July 01, 2019 onwards, the company said in an exchange filing. 

12:15 (IST)24 Jun 2019
Viral Acharya’s resignation no surprise; the famous ‘wrath of markets’ speech had set the stage

After a spate of clashes with the government, the unconventional RBI Deputy Governor Viral Acharya’s resignation comes as no surprise, but it may once again spark a discussion on the independence of RBI. Viral Acharya’s departure was anticipated for quite some time now; his now famous (or infamous) ‘wrath of the markets’ speech in October last year had set the stage for his exit, experts say. 

Read more: Viral Acharya’s resignation no surprise; the famous ‘wrath of markets’ speech had set the stage

12:12 (IST)24 Jun 2019
RBI confirms about Viral Acharya resignation

The Reserve Bank of India confirmed about Viral Acharya's resignation. "A few weeks ago, Dr. Acharya submitted a letter to the RBI informing that due to unavoidable personal circumstances, he is unable to continue his term as a Deputy Governor of the RBI beyond July 23, 2019. Consequential action arising from his letter is under consideration of the Competent Authority," RBI said in a statement.

11:45 (IST)24 Jun 2019
Nifty Pharma stocks

11:44 (IST)24 Jun 2019
Sensex, Nifty trade lower, auto stocks drag

11:32 (IST)24 Jun 2019
IndiaMart’s Rs 475 crore-IPO opens today

IndiaMart InterMesh, operator of the online listing platform- Indiamart.com online, is opening its IPO for a subscription today. The issue would close on June 26. The price band has been fixed at Rs 970–973 per share for the IPO, which is completely an offer for sale. The company will offload up to 48,87,862 equity shares and is expected to raise around Rs 475 crores. IndiaMart will not receive any proceeds from the issue. Promoters Dinesh Chandra Agarwal and Brijesh Kumar Agrawal will offload 14,30,109 shares via this issue. The company’s promoters holding will reduce to 53 per cent from 58 per cent after this IPO. Other major investors Intel Capital (Mauritius), Amadeus IV DPF and Accion Frontier Inclusion Mauritius will also sell some of their stakes via this issue.

Read more: IndiaMart’s Rs 475 crore-IPO opens today

11:05 (IST)24 Jun 2019
Nifty IT heatmap

10:38 (IST)24 Jun 2019
BSE heatmap

10:23 (IST)24 Jun 2019
Jet Airways shares rise 10.4 per cent

The shares of Jet Airways rose 10.4 per cent during intra-day trading on Monday. The insolvency proceedings have been initiated against the debt-laden airline. 

10:05 (IST)24 Jun 2019
UK falling behind in race to engage with India, warns UK Parliament inquiry

The UK is falling behind in the global race to engage with India as it has failed to adjust its strategy to fit India's enhanced influence and power on the world stage, a new British parliamentary inquiry report concluded on Monday. The report 'Building Bridges: Reawakening UK-India ties', released to coincide with the first-ever India Day in the Houses of Parliament to mark the launch of UK-India Week 2019, called for a reset of ties through better visa and immigration policies for Indian tourists, students and professionals as it accuses the UK government of missing opportunities in the bilateral relationship. (Reuters)

10:04 (IST)24 Jun 2019
US regulators ask Deutsche Bank to explain "bad bank" proposal

US regulators have sought explanation from Deutsche Bank AG about its "bad bank" proposal and its impact on U.S. operations at the loss-making German lender, the Financial Times reported on Monday. Officials at the U.S. Federal Reserve are concerned on learning about Deutsche Bank's strategy and have sought further details of the plan, which is part of the lender's move away from investment banking, FT reported https://on.ft.com/2J8pt6S, citing sources. Deutsche Bank and the Fed did not immediately respond to a Reuters request for comment on the matter. (Reuters)

09:57 (IST)24 Jun 2019
Nifty Bank shares trade mixed

09:56 (IST)24 Jun 2019
Nikkei edges higher as markets braced for G20, focus on Xi-Trump meet

Japan's Nikkei edged higher in cautious early Monday trade as investors looked ahead to this week's G20 summit amid a backdrop of trade and geopolitical tensions. The Nikkei share average was up 0.1% to 21,278.55 at the midday break, after traversing positive and negative territory.Analysts said investors may keep to the sidelines as they focus on a possible meeting between Chinese and U.S. leaders on the sidelines of the G20 summit scheduled on June 27-29 in Osaka, Japan. China's President Xi Jinping will attend the G20 summit, state-run Xinhua news agency said on Sunday, giving the first official confirmation of his attendance at a gathering where he is expected to meet U.S. President Donald Trump. Markets are hoping the two leaders could help restart stalled talks to resolve a months-long trade war. (Reuters)

09:55 (IST)24 Jun 2019
Pompeo to seek stronger strategic ties with India despite trade tensions

U.S. Secretary of State Mike Pompeo will seek to further strengthen strategic ties with India during a visit next week despite increasing frictions over trade, data flows and arms from Russia, officials said. Pompeo arrives in New Delhi on Tuesday for talks that are aimed at laying the ground for a meeting between U.S. President Donald Trump and Indian Prime Minister Narendra Modi later in the week at a G20 meeting in Japan.

(Reuters)

09:53 (IST)24 Jun 2019
Hero eyes neighbouring countries to clear stock pile-up

Hero MotoCorp is looking at exporting its excess BS-IV stock to neighbouring countries as it plans to launch the BS-VI compliant vehicles in the country at the earliest to ensure smooth transition before the new emission norms come into effect from April 1, 2020, sources said. The company was the first two-wheeler maker to receive the BS-VI certification by International Centre for Automotive Technology (ICAT) for the Splendor iSmart commuter motorcycle. Other models are in the development stage and will be receiving the BS-VI certification soon.

Read more: Hero eyes neighbouring countries to clear stock pile-up

09:49 (IST)24 Jun 2019
Euro reaches 3-month high as dollar sags on Fed easing prospects

The euro advanced to a three-month high against the dollar on Monday, as bearish bets on the U.S. currency remained solid after the Federal Reserve signalled last week it could soon cut interest rates. The euro stretched its rally last week, when it added 1.4%, and rose about 0.15% to $1.1386 in early Asian trade, its highest since March 22. It last traded at $1.1381. (Reuters)

09:48 (IST)24 Jun 2019
Asian stocks tick up, oil rises amid U.S.-Iran tensions

Asian shares edged up on Monday as investors pinned their hopes on any signs of a thaw in Sino-U.S. trade negotiations, while oil prices firmed on heightened tensions between the United States and Iran. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2%, hovering not far from Thursday's six-week high, while Japan's Nikkei average was up 0.3%.

09:39 (IST)24 Jun 2019
Nifty Auto drag

09:37 (IST)24 Jun 2019
All Nifty sectoral indices trade in green except these two

Barring Nifty Auto and Nifty IT, all sectoral indices trade in green

09:34 (IST)24 Jun 2019
L&T bags order from SJVN to set up a power plant in Bihar

Larsen & Toubro has won an order from SJVN's arm SJVN Thermal to set up a 2*660 megawatt power plant in Buxar, Bihar. 

09:29 (IST)24 Jun 2019
Major gainers among Nifty50

09:28 (IST)24 Jun 2019
BSE heatmap

09:17 (IST)24 Jun 2019
Another resignation at RBI: Viral Acharya quits as Deputy Governor, cites ‘personal reasons’

The Reserve Bank of India Deputy Governor Viral Acharya has resigned six months ahead of the end of his three-month tenure, citing personal reasons, the Business Standard reported citing unidentified sources. Viral Acharya, who is in-charge of the monetary policy at RBI, will return to New York University Stern School of Business. The report’s author Tamal Bandyopadhyay told CNBC TV18 in an interview that it is unlikely that the differences in the Monetary Policy Committee have led to his decision to resign from RBI. Viral Acharya had joined RBI as a Deputy Governor in January 2017 for a term of three years.

Read more: Another resignation at RBI: Viral Acharya quits as Deputy Governor, cites ‘personal reasons’

09:13 (IST)24 Jun 2019
Investments through participatory notes up till May

Investments in the Indian capital market through participatory notes increased by nearly Rs 1,400 crore to Rs 82,619 crore till May-end, a gain of 1.72 per cent over the previous month. P-notes are issued by registered foreign portfolio investors to overseas investors who wish to be part of the Indian stock market without registering themselves directly. They, however, need to go through a due diligence process.

As per latest data by the Securities and Exchange Board of India (Sebi), the total value of P-note investments in the Indian markets — equity, debt, and derivatives — rose to Rs 82,619 crore till May-end, from Rs 81,220 crore at April-end. Of the total investments, P-note holdings in equities stood at Rs 61,574 crore, followed by debt (Rs 19,681 crore) and derivatives (Rs 193 crore).

Read more: Investments through participatory notes up till May

09:07 (IST)24 Jun 2019
Foreign investors invest this much in capital markets in June so far; debt segment makes for lion’s share

Overseas investors have infused a net sum of Rs 10,312 crore in the domestic capital markets this month so far, with debt segment accounting for the lion’s share. Equity investments have slowed down on account of rising geopolitical tensions in the Middle East as well as US-India trade conflict, experts said. As per the latest depositories data, foreign portfolio investors (FPIs) pumped in a net amount of Rs 552.07 crore into equities and Rs 9,760.59 crore into the debt market during Jun 3-21, taking the cumulative net investment to Rs 10,312.66 crore.

Read more: Foreign investors invest this much in capital markets in June so far; debt segment makes for lion’s share

09:05 (IST)24 Jun 2019
Rupee opens lower at 69.60 per dollar

The Indian currency Rupee opened lower at 69.60 per dollar against the previous close of 69.55 per dollar on Monday morning. 

09:03 (IST)24 Jun 2019
Analyst on Hexaware Technologies; Should you buy

Hexaware announced the acquisition of the US-headquartered customer experience (CX) consulting firm, Mobiquity, for an all-cash consideration of $182 mn. CX is a core focus area of the company. The acquisition strengthens Hexaware’s front-end capabilities in CX. The transaction will be EPS neutral on a GAAP-basis. Hexaware appears to have struck a nice deal indicating the judicious use of capital. Full valuations rein in our view.

Read more: Hexaware Rating | Reduce — Mobiquity buy a step in the right direction

08:59 (IST)24 Jun 2019
RBI's deputy governor Viral Acharya quits six months before his term ends

The Reserve Bank of India's deputy governor Viral Acharya has reportedly resigned six months before the scheduled end of his term, according to media reports. 

08:54 (IST)24 Jun 2019
Oil prices on boil amid tensions in Middle East

Oil prices climbed on Monday as tensions remain high between Iran and the United States, with U.S. Secretary of State Mike Pompeo saying “significant” sanctions on Tehran would be announced. Brent futures were up 37 cents, or 0.6%, at $65.57 a barrel by 0044 GMT. West Texas Intermediate crude was up 43 cents, or 0.8%, at $57.86 a barrel. The US President Donald Trump said last week that he called off a military strike to retaliate for Iran’s downing of an unmanned U.S. drone, and he said on Sunday that he was not seeking war with Iran. But Pompeo also said “significant” sanctions on Iran would be announced on Monday aimed at further choking off resources that Tehran uses to fund its activities in the region.

Read more: Oil prices on boil amid tensions in Middle East

08:51 (IST)24 Jun 2019
Gold holds near 6-year peak on weaker dollar, Middle East tensions

Gold prices extended gains in early Asian trade on Monday, hovering near a six-year peak touched in the previous session, as a weaker dollar and heightened tensions between the United States and Iran underpinned the precious metal.

Read more: Gold holds near 6-year peak on weaker dollar, Middle East tensions

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