Share Market Highlights: Sensex ends 158 points down, Nifty above 10,750; Yes Bank shares surge 32%

By: | Updated:Feb 14, 2019 3:45 pm

Stock Market Highlights: After opening lower, the stock markets- Sensex and Nifty extended losses in the afternoon trade on Thursday. The Sensex closed 158 points down at 35,876.22 while the Nifty ended 47 points down at 10,746.05.

Share Market Live, Stock Market Live Hindi, Nifty Live, NSE live, BSE live, Live Market Update, Market Today, Indian Share Market Live, Indian Stock Market Live, स्टॉक मार्केट, शेयर बाजारStock Market Highlights: Yes Bank shares closed 32% higher at Rs 222.75.

Track Share Market Highlights: After opening lower, the stock markets- Sensex and Nifty extended losses in the afternoon trade on Thursday. The Sensex closed 158 points down at 35,876.22 while the Nifty ended 47 points down at 10,746.05. Yes Bank shares closed 32% higher at Rs 222.75, after the private sector lender said RBI has not found any divergence in the asset classification and provisioning done during 2017-18. ONGC share price slumped by more than 4% to Rs 128.05 in the morning trade, to emerge among the biggest Sensex losers.

Asian stock markets started in a cautious mood on Thursday as investors hoped for progress in the latest Sino-U.S. tariff talks while bracing for China trade data that are expected to show further falls in both exports and imports.
There was some hope another U.S. government shutdown would be averted as President Donald Trump edged toward backing a deal in Congress on funding for a border barrier, Reuters reported. We bring to you LIVE updates.

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15:42 (IST)14 Feb 2019
BSE live: Sensex ends 158 points down, Nifty above 10,750; Yes Bank shares surge 32%

After opening lower, the stock markets- Sensex and Nifty extended losses in the afternoon trade on Thursday. The Sensex closed 158 points down at 35,876.22 while the Nifty ended 47 points down at 10,746.05. Yes Bank shares closed 32% higher at Rs 222.75, after the private sector lender said RBI has not found any divergence in the asset classification and provisioning done during 2017-18. ONGC share price slumped by more than 4% to Rs 128.05 in the morning trade, to emerge among the biggest Sensex losers. A look at LIVE Sensex heatmap.

14:56 (IST)14 Feb 2019
United Arab Emirates-India: How fostering strong economic links can help both nations

It is no secret that India’s economy is strong and shows to the world its potential for further economic growth. Recently, Prime Minister Narendra Modi at a speech said that India would continue to be the fastest-growing large economy, and could be the second-largest economy in the world by 2030. The United Arab Emirates (UAE) also has a positive outlook. For those who have been to Dubai or Abu Dhabi – just seeing the impressive growth those two cities have undergone on their own right without even understanding the complexities of economic stats and sectoral analysis would also see the growth the country has been through.

14:11 (IST)14 Feb 2019
Uday Kotak says financial sector suffers from ‘10-year syndrome’; veteran banker’s advice for investors

The current situation of India’s financial sector is weak and reminds of the period between 1998 and 2008, said Uday Kotak. However, it’s not a systemic problem if properly handled, the MD & CEO of Kotak Mahindra Bank told CNBC TV18 in an interview. India’s financial sector suffers from a ‘10-year syndrome’ and corrective measures are needed since system tends to get excesses during such period, he added. Given financial sector being in a fragile zone, it will see major consolidation, the veteran banker also noted.

13:13 (IST)14 Feb 2019
BSE live: Sensex extends losses, Nifty below 10,750; Yes Bank shares jump; ONGC slumps

The stock markets- Sensex and Nifty extended losses in the afternoon trade on Thursday, tracking weak global cues. The Sensex is down 163 points to 35,870.79 while the Nifty is trading below the 10,750-mark. Yes Bank shares are holding on to gains from the morning, up 27% on NSE, after the private sector lender said RBI has not found any divergence in the asset classification and provisioning done during 2017-18. ONGC share price slumped by more than 4% to Rs 128.05 in the morning trade, to emerge among the biggest Sensex losers. A look at LIVE Sensex heatmap.

13:03 (IST)14 Feb 2019
IT dept releases Coffee Day's MindTree shares; attaches VG Siddhartha's partial stake in Coffee Day

Coffee Day Enterprises said today the Income Tax Department has released 74.90 lakh attached shares of IT firm Mindtree, owned by the company and its promoter V G Siddhartha, but attached Siddhartha's 46.01 lakh shares in Coffee Day Enterprises over potential tax demand. "The company and the promoter, VG Siddhartha, have received orders dated February 13, 2019, for release of provisional attachment of Mindtree shares under section 281B of Income Tax Act, 1961 vide ordered on January 25, 2019," Coffee Day Enterprises said in a regulatory filing.

12:47 (IST)14 Feb 2019
WPI inflation hits 10-month low, drops to 2.76 pc in Jan

Inflation based on wholesale prices fell to a 10-month low of 2.76 per cent in January over the previous month on softening prices of fuel and some food items, according to government data released Thursday.  The Wholesale Price Index (WPI)-based inflation stood at 3.8 per cent in December, 2018, and 3.02 per cent in January 2018. (PTI reported)

12:38 (IST)14 Feb 2019
Google CEO Sundar Pichai focuses on job creation, to spend $13 bn on facilities

Search engine giant Google is planning to spend $13 billion on data centers and offices across the USA this year, reported Bloomberg. Google says that the investment will create thousands of new construction jobs in the country other than the company’s traditional California base. The new spending builds upon $9 billion, Google invested into expanding in US in 2018. As per the report, Google will have offices and data centres in 24 states by the end of this year, its Chief Executive Officer, Sundar Pichai announced in a blog on Wednesday.

Also read: Google CEO Sundar Pichai focuses on job creation, to spend $13 bn on facilities

12:32 (IST)14 Feb 2019
GST relief for home buyers on anvil; Piyush Goyal says GST Council will consider this

Home buyers may be in for a relief with Finance Minister Piyush Goyal announcing that the GST Council will soon consider changing the GST rate structure on housing. Piyush Goyal said that the GST Council will soon convene its next meeting, in which it will consider GST rate structure on real estate. Further, ostensibly in an effort to revive under-construction housing projects stuck for need of financing, Piyush Goyal said that he wants banks to meet real estate sector in two weeks. 

Read full story here: GST relief for home buyers on anvil; Piyush Goyal says GST Council will consider this

12:29 (IST)14 Feb 2019
Indians set up 205 companies in Estonia, majority startups to access European market

Around 205 digital entities were set up in Estonia by Indian entrepreneurs in 2018 as part of the European country’s e-Residency programme that allow individuals from across the world to launch their new digital company or set up a local unit in Estonia through a digital ID issued by its government. Majority of the 205 companies set up are startups in sectors viz., web designing, software programming and, content writing etc.

Also read: Indians set up 205 companies in Estonia, majority startups to access European market

12:01 (IST)14 Feb 2019
Modi’s Swachh Bharat Mission an inspiring model, says Nigerian minister

While India looks forward to becoming an open-defecation free country in 2019, its African counterpart in terms of open-defecation– Nigeria– will become the world leader of the menace once India reaches her target. Writing for The Indian Express, Minister of Water Resources, Federal Republic of Nigeria– Suleiman H Adamu– said that the country is challenged by India’s on-going Swachh Bharat Mission (SBM) and its success has spurred Nigeria.

Also read: Modi’s Swachh Bharat Mission an inspiring model, says Nigerian minister

11:46 (IST)14 Feb 2019
Expert take on Yes Bank stock

"Yes bank has given a huge gap up today post news stating " RBI has found no divergence in its BS on provisioning and its asset classification". This is in line with our technical view which supports the fact that stock is cheaper at levels below 180 - 175. We believe the stock is cheaper at those levels and any opportunity should be utilized by investors to have position/investment with a medium-term perspective. We expect stock is due on the upside to 250 levels. This news at lower levels has worked as catalyst for Yes Bank," Mustafa Nadeem, CEO, Epic Research said in a note.

11:32 (IST)14 Feb 2019
SBI, Bank of Baroda among 4 PSU banks penalised crores of rupees by RBI; check which is fined how much

The Reserve Bank of India has imposed crores of rupees worth of monetary penalty on four PSU banks, including the large ones State Bank of India (SBI) and Bank of Baroda. The monetary penalty has been imposed for non compliance with various directions issued by the RBI. RBI has slapped a penalty of Rs 1 crore on SBI -- India’s largest bank, it said. Further, it has levied a penalty of Rs 1 crore on Bank of Baroda too -- another large PSU bank. Union Bank of India also has been fined to the tune of Rs 1 crore. On the other hand, Corporation Bank has been slapped with a penalty of Rs 2 crore.

11:17 (IST)14 Feb 2019
Brokerages on Yes Bank

According to Macquarie, the NIL divergence reported by the bank is a big positive. The firm has a target stock price of Rs 270. A significant overhang has dissapeared from the bank. Macquarie has a buy rating on the stock with a share price target of Rs 270. The valuations are cheap at the current levels, said Macquarie, with an advise to buy the scrip. “With two of the key overhangs addressed (management and divergence), we expect the bank to now look at the capital raise issue over the next few months, which will help drive a gradual improvement in its operating performance, Motilal Oswal noted,  maintaining a "buy" rating with the target price of Rs 270 per share.

10:54 (IST)14 Feb 2019
Rupee falls 14 paise against US dollar in early trade

The rupee depreciated 14 paise to 70.94 against the US dollar in opening trade at the interbank forex market Thursday on increased demand for the greenback from importers and banks amid rising global crude prices. A strong dollar in overseas markets and a lower opening of the domestic equity market weighed on the rupee, a currency dealer said. Brent crude, the international benchmark was trading higher by 0.46 per cent at USD 63.90 per barrel Thursday. The rupee opened weak at 70.91 and fell further to 71.05, but recovered partially to trade at 70.94, still down by 14 paise against the dollar.

10:15 (IST)14 Feb 2019
Five states own 50% wealth in India, upper caste Hindus richest with 41% of total assets: Study

Caste continues to play a significant role in the educational and professional choices available to an individual, and the resultant income and assets in India, a new study has revealed. Only 22.3 per cent of the upper caste Hindus own 41 per cent of the country’s total wealth and form the richest group, whereas 7.8 per cent of Hindu Scheduled Tribes own the lowest share of the country’s assets at 3.7 per cent, finds the study.

Read full story here: Five states own 50% wealth in India, upper caste Hindus richest with 41% of total assets: Study

09:47 (IST)14 Feb 2019
Yes Bank shares price jumps 30% after RBI clears lender of divergence

Shares of India's major private sector lender Yes Bank surged in trade on Thursday morning after the RBI cleared the  bank of divergence. Yes Bank share price gained by nearly 30% to hit the day's high at Rs 220.25 on NSE this morning. YTes Bank said yesterday that the RBI has not found any divergence in the asset classification and provisioning done during 2017-18. “The report observes NIL divergences in the bank’s asset classification and provisioning from the RBI norms,” the Mumbai-based lender said in a statement to the stock exchanges, citing the central bank’s risk assessment.

09:30 (IST)14 Feb 2019
BSE live: Sensex down 120 points, Nifty below 10,800; Yes Bank shares zoom 25%

The stock markets- Sensex and Nifty opened lower on Thursday morning, tracking weak global cues. The Sensex is down 94 points to 35,939.73 while the Nifty is trading below the 10,800-mark. Yes Bank shares jumped by more than 27% to hit the day's high at Rs 229 on NSE, after the private sector lender said RBI has not found any divergence in the asset classification and provisioning done during 2017-18. Bharti Airtel shares slumped more than 3% to hit the day's low at Rs 300.23. A look at LIVE Sensex heatmap.

09:23 (IST)14 Feb 2019
Jet Airways trouble: Lessors of debt-laden airline may take back aircraft

Cash-strapped Jet Airways could face further trouble as some of its lessors are planning to take back their leased aircraft to the airline if the latter’s board meeting on February 14 fails to come up with a firm recapitalisation plan. The Jet board is meeting on Thursday to approve the company’s earnings during the October-December quarter and the lessors who have not been paid leasing charges for months expect the board to come up with a firm recapitalisation plan.

Also read: Jet Airways trouble: Lessors of debt-laden airline may take back aircraft

09:22 (IST)14 Feb 2019
Oil prices rise on hopes for US-China trade spat breakthrough

Oil prices rose on Thursday, buoyed by hopes that potential progress in the latest Sino-U.S. tariff talks would improve the global economic outlook. U.S. West Texas Intermediate (WTI) crude futures were at $54.15 per barrel at 0204 GMT, up 25 cents, or 0.5 percent, from their last settlement. They closed up 1.5 percent on Wednesday, having touched their highest since Feb. 5 at $54.60 a barrel. International Brent crude oil futures were up 29 cents, or 0.5 percent, at $63.90 a barrel. They closed the previous session up 1.9 percent, after marking their strongest since Nov. 21 at $63.98 a barrel.

Also read: Oil prices rise on hopes for US-China trade spat breakthrough

09:21 (IST)14 Feb 2019
Global markets: Asia stocks wait on Sino-US tariff talks, China trade data

Asian stock markets started in a cautious mood on Thursday as investors hoped for progress in the latest Sino-U.S. tariff talks while bracing for China trade data that are expected to show further falls in both exports and imports. There was some hope another U.S. government shutdown would be averted as President Donald Trump edged toward backing a deal in Congress on funding for a border barrier. MSCI’s broadest index of Asia-Pacific shares outside Japan was all but flat, having just touched peaks last seen in early October. Japan’s Nikkei edged up 0.3 percent to its highest for the year so far as a weakening yen boosted export stocks. E-Mini futures for the S&P 500 added 0.1 percent.

Also read: Global markets: Asia stocks wait on Sino-US tariff talks, China trade data

09:21 (IST)14 Feb 2019
US, China negotiators start trade talks ahead of March tariff deadline

U.S. and Chinese negotiators have begun trade talks President Donald Trump says will help decide whether he postpones a planned tariff increase on $200 billion of imports from China. Businesspeople and economists say the two days of talks that started Thursday are unlikely to resolve a fight over Beijing’s technology ambitions. They say Chinese negotiators are trying to persuade Trump they are making enough progress to postpone the March 2 duty increase. The chief U.S. envoy, Trade Representative Robert Lighthizer, and his Chinese counterpart, Vice Premier Liu He, shook hands at the start of the meeting at a government guesthouse but said nothing to reporters.

Also read: US, China negotiators start trade talks ahead of March tariff deadline

Share market on Wednesday: After opening higher, the domestic stock markets– Sensex and Nifty– turned choppy in the afternoon trade on Wednesday. The Sensex closed 119 points down at 36,034.11, while the Nifty closed below the 10,800-mark. Shares of SBI and ONGC emerged as the biggest losers in the Sensex, shedding more than 1.5% each. Asian equities traded higher, after Dow snapped 4-day losing streak. The Nikkei was fast approaching high point of the day after Japan’s domestic CGPI for January grew compared to Reuters’ expectation of a decline, on sequential basis.
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