Share market highlights: Sensex closes 354 points down, Nifty below 11.600; Tata Motors, HUL top gainers

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Updated:Apr 10, 2019 3:38:54 pm

Share market highlights: The Sensex and Nifty are opened marginally lower on Wednesday morning, tracking weak global cues. The Sensex is down about 60 points to 38,879.12, while the Nifty is trading below the 11,650-mark.

Stock Market, Share Market Live, स्टॉक मार्केट, शेयर बाजार, Stock Market Live, Nifty Live, NSE live, BSE live, Live Market Update, Market Today, Indian Share Market Live, Indian Stock Market LiveStock Market highlights: The Sensex closed 354 points down at 38,585.35, while the Nifty is closed below the 11,600-mark.

Stock market highlights: After opening marginally lower on Wednesday, the Sensex and Nifty extended losses in the afternoon trade. The Sensex closed 354 points down at 38,585.35, while the Nifty is closed below the 11,600-mark. Bharti Airtel, Asian Paints shares emerged as the top losers in the index shedding up to 4%. Tata Motors, HUL closed up to 5% higher, to emerge among the top Sensex gainers.

Asian shares stepped back from eight-month highs on Wednesday as the IMF lowered its global growth outlook and as tensions over tariffs between the United States and Europe escalated. MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.1 percent, a day after it hit eight-month highs while Japan’s Nikkei lost 0.9 percent. On Wall Street, the S&P 500 gave up 0.61 percent and the Nasdaq Composite declined 0.56 percent, Reuters reported. We bring to you LIVE updates.

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15:38 (IST)10 Apr 2019
BSE live: Sensex closes 354 points down, Nifty below 11.600; Tata Motors, HUL top gainers

After opening marginally lower on Wednesday, the Sensex and Nifty extended losses in the afternoon trade. The Sensex closed 354 points down at 38,585.35, while the Nifty is closed below the 11,600-mark. Bharti Airtel, Asian Paints shares emerged as the top losers in the index shedding up to 4%. Tata Motors, HUL closed up to 5% higher, to emerge among the top Sensex gainers.

09:29 (IST)10 Apr 2019
BSE live: Sensex down 60 points, Nifty near 11,650; Tata Motors, Yes Bank top gainers

The Sensex and Nifty are opened marginally lower on Wednesday morning, tracking weak global cues. The Sensex is down about 60 points to 38,879.12, while the Nifty is trading below the 11,650-mark. Yes Bank shares gained nearly 0.70% to Rs 273.50, while Tata Motors shares are trading 1% higher at Rs 207.55. Vodafone Idea shares are trading 0.9% lower at Rs 16.80. A look at LIVE Sensex heatmap.

09:16 (IST)10 Apr 2019
Global Markets: Asian stocks slip from 8-month high as new trade war front opens

Asian shares slipped from eight-month highs on Wednesday as the International Monetary Fund lowered its global growth outlook and as tensions over tariffs between the United States and Europe escalated. MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.3 percent, a day after it hit its highest since Aug. 1. The Shanghai Composite Index fell 0.55 percent and Japan’s Nikkei lost 0.7 percent. On Wall Street, the S&P 500 gave up 0.61 percent and the Nasdaq Composite declined 0.56 percent on Tuesday. 

Also read: Global Markets: Asian stocks slip from 8-month high as new trade war front opens

08:54 (IST)10 Apr 2019
Adani emerges as top solar developer in 2018

Adani made it to the top as the solar project developer in terms of cumulative installation in 2018, although ACME Solar developed the largest solar installation in the same year, according to a Mercom Capital Group report. Adani Renewables reached a generation capacity of 1,970 mw as of 2018 and plans to generate 10,000 mw of solar power by 2022. In the calendar year 2018, India was the third-largest solar market in the world behind China and the United States. India’s solar installations reached 8.3 gigawatt including large-scale and rooftop solar capacity. The country’s cumulative solar capacity has reached 28 gw as of December 2018. The report finds that the top 10 large-scale developers accounted for 60% of the market share in 2018, with all others making up the remaining 40%.

Also read: Adani emerges as top solar developer in 2018

08:52 (IST)10 Apr 2019
IMF cuts India’s GDP growth forecast to 7.3% for FY20

The International Monetary Fund (IMF) on Tuesday trimmed its economic growth forecasts for India by 20 basis points (bps) each from its January predictions to 7.3% for FY20 and 7.5% for the next fiscal. Citing persistent risks from the trade war, it lowered 2019 global growth forecast by 20 basis points to 3.3%, the weakest since 2009 when the subprime crisis had flared up. The Fund also reduced its 2019 trade growth forecast by a sharp 60 basis points to 3.4%, compared with the actual rise of 3.8% in 2018.

Also read: IMF cuts India’s GDP growth forecast to 7.3% for FY20

08:50 (IST)10 Apr 2019
Oil price rises amid OPEC supply cuts, US sanctions

Oil prices edged back towards five-month highs on Wednesday, supported by ongoing supply cuts by producer club OPEC and U.S. sanctions against oil exporters Iran and Venezuela. International benchmark Brent futures were at $70.83 per barrel at 0056 GMT, up 22 cents, or 0.3 percent, from their last close. U.S. West Texas Intermediate (WTI) crude oil futures were at $64.26 per barrel, up 28 cents, or 0.3 percent, above their last settlement.

Also read: Oil price rises amid OPEC supply cuts, US sanctions

08:45 (IST)10 Apr 2019
Interest rates: SBI loans cheapest among top banks after 5 bps cut

State Bank of India (SBI), the country’s largest lender, on Tuesday cut the marginal cost of funds-based lending rate (MCLR) across tenors by 5 basis points (bps), pegging the one-year MCLR at 8.50%. This makes it the most competitive among the top-tier lenders since HDFC Bank’s one-year MCLR is 8.7%, while for ICICI Bank it is slightly higher at 8.75%. Mid-sized public-sector lender Indian Overseas Bank (IOB) also cut its lending rates by 5 bps across tenors on Tuesday, the one-year MCLR being 8.65%.

Also read: Interest rates: SBI loans cheapest among top banks after 5 bps cut

08:44 (IST)10 Apr 2019
Essar Steel within Lakshmi Mittal’s grasp; NCLAT tells ArcelorMittal to keep Rs 42,000 crore ready

Even as ArcelorMittal seems wary of the lack of a definitive and final word from the National Company Law Appellate Tribunal (NCLT) on how its bid amount of Rs 42,000 crore would be distributed among the creditors to Essar Steel, the tribunal on Tuesday asked the NRI billionaire LN Mittal-led firm to be ready for upfront payment of the promised amount without any further procrastination. While the appellate tribunal’s directive displayed its impatience with the perceived delay on the part of the global steel giant in turning up with the promised amount, it also signalled the deal to salvage the debt-laden Indian steel company is close to being executed.

Also read: Essar Steel within Lakshmi Mittal’s grasp; NCLAT tells ArcelorMittal to keep Rs 42,000 crore ready

08:43 (IST)10 Apr 2019
Jet Airways pilots serve legal notice to airline, ask salary dues to be cleared by April 14

Even as the lenders wait for the last day, April 10, to see what kind of interest prospective bidders show in taking over the beleaguered Jet Airways, its 1,100-strong domestic pilots body, the National Aviators Guild (NAG), on Tuesday served a legal notice to the airline, setting April 14 as the deadline for the new management to clear their salary dues. Jet Airways pilots, engineers and senior executives have not been paid for the last three months amid cash crunch in the airline that saw an ownership change last month with banks taking majority shares. Along with these staff, the airline has defaulted on the payment of March salaries to other some employees as well.

Also read: Jet Airways pilots serve legal notice to airline, ask salary dues to be cleared by April 14

Share market on Tuesday: 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.
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