Share market highlights: Sensex ends 204 points down, Nifty below 11,200; Yes Bank, Tata Motors plunge

By: |
Updated:May 15, 2019 3:50:35 pm

Share market highlights: The Sensex and Nifty ended lower on Wednesday, tracking mixed global cues. The Sensex closed 203 points down to 37,114.88, while the Nifty ended below the 11,200-mark.

Promoter pledging activity in BSE 200 drops in March quarterYes Bank share price tumbled more than 8% to end at Rs 143.65.

Share market highlights: The Sensex and Nifty ended lower on Wednesday, tracking mixed global cues. The Sensex closed 203 points down to 37,114.88, while the Nifty ended below the 11,200-mark. Yes Bank share price tumbled more than 8% to end at Rs 143.65, while Tata Motors shares closed 8% down at Rs 169.60 to emerge among the biggest Sensex losers.

Asian stocks struggled near a 3-1/2-month low on Wednesday on lingering concerns over the economic impact of a U.S.-China trade war, although an overnight bounce on Wall Street helped limit the losses. MSCI’s broadest index of Asia-Pacific shares outside Japan edged down 0.05%. The index had fallen to its lowest level since the end of January the previous day as a trade conflict between the United States and China intensified. Beijing on Monday imposed a tariff hike on U.S. goods following Washington’s decision last week to hike its levies on Chinese imports, Reuters reported.

Live Blog

Highlights

    15:50 (IST)15 May 2019
    BSE live: Sensex ends 204 points down, Nifty below 11,200; Yes Bank, Tata Motors plunge

    The Sensex and Nifty ended lower on Wednesday, tracking mixed global cues. The Sensex closed 203 points down to 37,114.88, while the Nifty ended below the 11,200-mark. Yes Bank share price tumbled more than 8% to end at Rs 143.65, while Tata Motors shares closed 8% down at Rs 169.60 to emerge among the biggest Sensex losers. A look at LIVE Sensex heatmap.

    10:35 (IST)15 May 2019
    Troubles times: DHFL debt worth nearly Rs 1,500 crore downgraded

    Even as Dewan Housing Finance Corporation (DHFL) continued to see downgrades, rating agency Icra on Tuesday said payouts by the financier were delayed despite funds being available in some instances. Late Monday evening, Crisil lowered its rating on DHFL commercial papers (CPs) worth Rs 850 crore to A4+ from A3+. It observed that DHFL’s liquidity levels are deteriorating because of further delays in fundraising from the sell-down of project finance loans and lower inflows from securitisation of non-housing loans. Close to Rs 1,500 crore of the DHFL’s debt instruments have been downgraded this week.

    Also read: Troubles times: DHFL debt worth nearly Rs 1,500 crore downgraded

    09:47 (IST)15 May 2019
    Theresa May’s government to put forward Brexit bill in June

    Prime Minister Theresa May’s government will publish draft legislation in the first week of June that would allow Brexit to proceed if approved by parliament, a Downing Street spokesman announced on Tuesday. The statement came after talks between May and opposition Labour leader Jeremy Corbyn on a possible compromise that would end a deadlock on Brexit in parliament. May met with Corbyn “to make clear our determination to bring the talks to a conclusion and deliver on the referendum result to leave the EU”.

    Also read: Theresa May’s government to put forward Brexit bill in June

    09:25 (IST)15 May 2019
    BSE live: Sensex up 110 points, Nifty above 11,250; Jet Airways plunges 6%, IndusInd Bank up

    The Sensex and Nifty opened higher on Wednesday morning, tracking mixed global cues. The Sensex is up about 100 points to 37,418.53, while the Nifty is trading above the 11,250-mark. Jet Airways shares tanked by more than 6% to Rs 121.20 following high profile exits from the firm. IndusInd Bank shares are trading 1.5% higher at Rs 1443.20. A look at LIVE Sensex heatmap.

    09:06 (IST)15 May 2019
    Revival under cloud: Slots gone, Jet CEO & CFO move on

    Following the majority of Jet Airways’ slots being given to other airlines, the carrier’s CEO Vinay Dube and deputy CEO-cum-CFO Amit Agarwal resigned on Tuesday. Jet’s revival has become uncertain with Etihad only putting a letter of interest instead of a bid.

    Check chart: Revival under cloud: Slots gone, Jet CEO & CFO move on

    09:05 (IST)15 May 2019
    Gold slips off 1-month peak amid optimism on US-China trade concerns

    Gold retreated slightly from a one-month high on Tuesday as equity markets enjoyed some respite after the United States and China adopted a more optimistic tone on their trade dispute. Spot gold was down 0.1% at $1,298.31 per ounce as of 1153 GMT, after hitting $1,303.26 in the session, its highest since April 11. U.S. gold futures were down 0.2% at $1,299.30 an ounce. “The most recent noise around the trade tensions has been settling a little bit,” said Julius Baer analyst Carsten Menke. “We’re hearing voices out of the U.S. that the talks are going to continue and (also) see a little bit of recovery in equities. So it’s not all as negative as it had been in the past few days and that’s the reason gold is consolidating.”

    Also read: Gold slips off 1-month peak amid optimism on US-China trade concerns

    09:03 (IST)15 May 2019
    FDA urged to crack down on European firms shipping abortion pills to US from India

    A bipartisan group of 117 lawmakers has urged the US Food and Drug Administration (FDA) to crack down on companies, primarily based in Europe, that ship chemical abortion drugs from India to the US. These European companies, like Aid Access, are circumventing the FDA’s safety requirements and placing the lives of women and their children at risk, the lawmakers said in a letter to Norman Sharpless, the Acting FDA Commissioner. In the letter dated May 10, the bipartisan group of Congressmen urged Sharpless to crack down on Aid Access and Rablon, two foreign companies known to distribute Mifeprex, a chemical abortion drug, by mail-order to US customers in violation of the FDA’s safety protocols.

    Also read: FDA urged to crack down on European firms shipping abortion pills to US from India

    08:51 (IST)15 May 2019
    SBI on GDP debate: All companies under MCA 21 contribute to growth; shell firms will not change numbers

    Amid the reinvigorated debate over the existence of shell companies in MCA-21 data, the country’s largest lender has said that all companies registered under MCA contribute to GDP growth. Drawing an analogy with the financial transactions, the State Bank of India (SBI) has said that whether legitimate or illegitimate, all form a part of GDP and hence “shell companies will not change GDP numbers, purely going by definition”. 

    Also read: SBI on GDP debate: All companies under MCA 21 contribute to growth; shell firms will not change numbers

    08:50 (IST)15 May 2019
    Pakistan’s $6 billion bailout: What this 22nd IMF bailout with IMF means for India’s neighbour

    Even as Pakistan reached $6 billion bailout agreement with the International Monetary Fund (IMF), Imran Khan-led government would have to implement a host of tough measures to honour the commitment. Apart from limiting expenditure, working on the loss-making PSU enterprises, capping the subsidies for the wealthy classes and taxing the rich, Pakistan would have to seriously look into not exerting much burden on the middle class of the country. The experts say that the latest deal, the 22nd since Pakistan joined the IMF in 1950, may invite fresh economic challenges for the common man in the form of rise in prices of goods and services including fuel, gas and electricity. The rupee may get devalued further making its exports less competitive, they added. The last bailout for Pakistan was worth $6.6 billion in 2013.

    Also read: Pakistan’s $6 billion bailout: What this 22nd IMF bailout with IMF means for India’s neighbour

    08:48 (IST)15 May 2019
    Walmart takes the fight to Amazon in shipping wars with next-day delivery

    Walmart isn’t losing to Amazon in online retail, not even close. And its latest salvo in shipping wars is further keeping it in the game against Amazon. Less than a month after the world’s largest online retailer announced making one-day shipping of products standard for its Prime members (as its Chief Financial Officer Brian Olsavsky said during Amazon’s first-quarter 2019 earnings call), Walmart on Tuesday announced next-day delivery service, beginning with customers of Walmart.com. without a membership fee.

    Also read: Walmart takes the fight to Amazon in shipping wars with next-day delivery

    08:47 (IST)15 May 2019
    Jet Airways CEO Vinay Dube calls it quits; 2nd top resignation in two days

    In yet another major setback, Jet Airways CEO Vinay Dube has resigned from the cash-strapped airline with immediate effect. Vinay Dube cited personal reasons for his departure from Jet Airways, which is in the midst of desperate attempts for revival, the company said in a regulatory filing. Earlier yesterday, Jet Airways deputy chief executive and chief financial officer (CFO) Amit Agarwal had also resigned due to personal reasons, with immediate effect. Jet Airways lenders are soliciting bids for investment into the airline and revival of the carrier formerly controlled by Naresh Goyal. The lenders are offering 31.2 to 75 per cent stake in the ailing company on a fully diluted basis.

    Also read: Jet Airways CEO Vinay Dube calls it quits; 2nd top resignation in two days