Share market highlights: Sensex ends 239 points higher, Nifty above 11,650; Yes Bank, Tata Motors top gainers

By: |
Updated:Apr 09, 2019 3:54:11 pm

Share market highlights: After opening marginally lower on Tuesday, the Sensex and Nifty reversed losses in the afternoon trade. The Sensex ended 239 points higher at 38,939.22, while the Nifty closed above the 11,650-mark.

sensex, nify, stock market, bse, nseShare market highlights: The Sensex is up about 120 points to 38,820.91, while the Nifty is trading above the 11,650-mark.

Stock market highlights: After opening marginally lower on Tuesday, the Sensex and Nifty reversed losses in the afternoon trade. The Sensex ended 239 points higher at 38,939.22, while the Nifty closed above the 11,650-mark. Yes Bank, Tata Motors shares jumped closed up to 4% higher in the afternoon trade. Asian Paints, Infosys were among the top losers in the Sensex. 

Asian shares got off to a subdued start on Tuesday as investors braced for key events later in the week, including the kick-off of the US earnings season and a crucial Brexit summit, while broader concerns over slowing global growth checked sentiment. MSCI’s broadest index of Asia-Pacific shares outside Japan was basically flat after brushing its highest since late August last year during the previous session, Reuters reported. We bring to you Live updates.

Live Blog

15:53 (IST)09 Apr 2019
BSE live: Sensex ends 239 points higher, Nifty above 11,650; Yes Bank, Tata Motors top gainers

After opening marginally lower on Tuesday, the Sensex and Nifty reversed losses in the afternoon trade. The Sensex ended 239 points higher at 38,939.22, while the Nifty closed above the 11,650-mark. Yes Bank, Tata Motors shares jumped closed up to 4% higher in the afternoon trade. Asian Paints, Infosys were among the top losers in the Sensex. 

11:33 (IST)09 Apr 2019
Sensex, Nifty earnings outlook robust for FY20; here are top stock picks

Even as India Inc gears up for the new fiscal year, analysts’ outlook for the FY20 results of Sensex and Nifty appears to be robust. According to global firm Morgan Stanley, factors leading to a tepid earning have now reversed, and the stage is set for a reversal. “We observe that most of these factors have reversed for FY20, setting the stage for a new earnings cycle. This cycle could last for four to five years with market earnings compounding at 20 per cent per annum,” Ridham Desai, managing director at Morgan Stanley India said in a note. 

Also read: Sensex, Nifty earnings outlook robust for FY20; here are top stock picks

10:28 (IST)09 Apr 2019
BSE live: Sensex reverses losses, Nifty above 11,600; HCL Tech, Tata Motors top gainers

After opening marginally lower on Tuesday, the Sensex and Nifty reversed losses in the morning trade. The Sensex is up about 120 points to 38,820.91, while the Nifty is trading above the 11,650-mark. HCL Tech shares are trading 2.2% higher at Rs 1,122.65 while Tata Motors shares are trading 1.5% higher at Rs 203.65. Bharti Airtel shares are down by more than 1.7%. A look at LIVE Sensex heatmap.

09:45 (IST)09 Apr 2019
India highest recipient of remittances at USD 79 billion in 2018: World Bank

India retained its position as the world’s top recipient of remittances with its diaspora sending a whopping USD 79 billion back home in 2018, the World Bank said in a report Monday. India was followed by China (USD 67 billion), Mexico (USD 36 billion), the Philippines (USD 34 billion), and Egypt (USD 29 billion), the global lender said. With this, India has retained its top spot on remittances, according to the latest edition of the World Bank’s Migration and Development Brief. Over the last three years, India has registered a significant flow of remittances from USD 62.7 billion in 2016 to USD 65.3 billion 2017.

Also read: India highest recipient of remittances at USD 79 billion in 2018: World Bank

09:30 (IST)09 Apr 2019
BSE live: Sensex down 60 point, Nifty below 11,600; Bharti Airtel gains, Lakshmi Vilas Bank slumps

The Sensex and Nifty opened marginally lower on Tuesday morning, tracking mixed global cues. The Sensex is down about 60 points to 38,640, while the Nifty is trading below the 11,600-mark. Bharti Airtel shares are trading 1.2% higher at Rs 358.40, while Lakshmi Vilas Bank shares slumped by nearly 4% lower at Rs 93.60 on NSE, after the RBI said that it has not yet given approval to proceed with Indiabulls Housing Finance merger.

08:58 (IST)09 Apr 2019
Ratan Tata says Cyrus Mistry failed to deliver on promises

As many as seven of the nine members of Tata Sons’ Board approved then chairman Cyrus Mistry’s removal. They lost confidence in him as Mistry failed to deliver as per the promises, Ratan Tata counsel Abhishek Manu Singhvi informed the National Company Law Appellate Tribunal (NCLAT) on Monday. The eighth member of the Board was Mistry himself, while the ninth member abstained from voting.

Also read: Ratan Tata says Cyrus Mistry failed to deliver on promises

08:54 (IST)09 Apr 2019
Tata Steel unit likely to take over Usha Martin Jamshedpur unit today

Tata Steel’s subsidiary Tata Sponge Iron is likely to take over the steel alloy manufacturing plant of debt-ridden Usha Martin by Tuesday. Tata Steel had executed definitive agreements with the Kolkata-based company in September last year for the acquisition of the latter’s steel business for a cash consideration of between Rs 4,300 and Rs 4,700 crore. Usha Martin’s steel business includes one-million-tonne steel alloy manufacturing plant near Jamshedpur in Jharkhand, an operative iron ore mine, a coal mine under development and captive power plants.

Also read: Tata Steel unit likely to take over Usha Martin Jamshedpur unit today

08:50 (IST)09 Apr 2019
Adani Power gets letter of interest for Korba West Power Company

Adani Power said on Monday it has been awarded the letter of intent (LoI) for Korba West Power Company (KWPCL) that owns and operates a 600 MW thermal power plant in Chhattisgarh’s Raigarh district. The Committee of Creditors (CoC) of KWPCL—that was undergoing insolvency resolution process under the Insolvency and Bankruptcy Code, 201— has approved the resolution plan submitted by Adani Power, it said in an exchange filing.

Also read: Adani Power gets letter of interest for Korba West Power Company

08:45 (IST)09 Apr 2019
Jet Airways sale: Lenders ease terms to attract buyers

The relatively easy terms on which lenders to the cash-strapped Jet Airways are willing to sell the carrier should attract at least a couple of buyers. While not specifying a floor price, lenders are willing to hand over the airline to a strategic bidder with a minimum net worth of Rs 1,000 crore or even a three-year track record in commercial aviation. A financial investor should have minimum assets under management of Rs 2,000 crore or must commit to an investment of Rs 1,000 crore. The qualification criteria have been waived for government-promoted funds and quasi sovereign wealth funds. National Investment and Infrastructure Fund (NIIF), India’s sovereign wealth fund, is reportedly seeking to invest in the Mumbai-based carrier.

Also read: Jet Airways sale: Lenders ease terms to attract buyers

08:44 (IST)09 Apr 2019
I-T finds Rs 12 lakh crore mismatch in ITRs declared in FY 2016

The indirect tax department has detected a mismatch of Rs 12 lakh crore between the income declared in income-tax returns (ITR) on account of services and the value of these services declared in the corresponding service tax details in FY16. The mismatch amount is nearly six times the service tax collected in the fiscal. A similar exercise is under way for FY17 as well. It is believed this is also a reason for the shortfall in goods and services tax  (GST) collections in FY18 and FY19. While the government had projected Rs 13.4 lakh crore of GST collections in FY19, it could collect only Rs 11.8 lakh crore.

Also read: I-T finds Rs 12 lakh crore mismatch in ITRs declared in FY 2016

08:43 (IST)09 Apr 2019
Dollar sags as commodity currencies draw support from crude oil surge

The dollar sagged on Tuesday after weak U.S. economic data while commodity-linked currencies such as the Canadian and Australian dollars drew support from an ongoing surge in crude oil prices. The dollar index against a basket of six major currencies stood little changed at 97.083 after losing 0.35 percent the previous day, marking its biggest daily decline since March 20.

Also read: Dollar sags as commodity currencies draw support from crude oil surge

Share market on Monday: After opening higher on Monday, the Sensex and Nifty turned choppy in the afternoon trade. The Sensex closed 162 points down at 38,700.53, while the Nifty ended above the 11,600-mark. Infosys shares jumped by more than 1.75% to Rs 769.50, while TCS ended 1.15% higher at Rs 2,075.75. Bajaj Finance, Vedanta emerged as the biggest losers on the Sensex.
Switch to Hindi Edition
FinancialExpress_1x1_Imp_Desktop