Share market highlights: Sensex ends 50 points down, Nifty below 11,750; Yes Bank, Powergrid top gainers

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Updated:May 02, 2019 3:50:43 pm

Stock market highlights: After opening lower, the Sensex and Nifty are recovered in the morning trade on Thursday morning. The Sensex is up about 108 points to 39,139.14, while the Nifty is trading above the 11,750-mark.

Kazakhstan, interest in the startups, BSE, बीएसई, startups, स्टार्टअप्स, कजाखस्तानJet Airways shares closed 12% lower at 134.85 after reports indicated that bidders have not shown interest in the airline.

Stock market highlights: The Sensex and Nifty turned choppy in the afternoon trade on Thursday, after trading higher in the late morning. The Sensex ended 50 points down to 38,981.43, while the Nifty is closed below the 11,750-mark. Jet Airways shares closed 12% lower at 134.85 after reports indicated that bidders have not shown interest in the airline. Yes Bank shares closed 3.5% higher at Rs 173.80, while Powergrid shares ended 1.9% higher at Rs 189, to emerge among the biggest Sensex gainers.

Asian markets marked time on Thursday with two major centres – Japan and China – shut for holidays while the dollar held on to overnight gains after the US central bank poured cold water on rate cut expectations. MSCI’s broadest index of Asia-Pacific shares outside Japan was off 0.1 percent, trading in a tight band. Australian shares slipped 0.7 percent while New Zealand was up 0.4 percent and South Korea’s Kospi index added 0.1 percent, Reuters reported.

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15:50 (IST)02 May 2019
BSE live: Sensex ends 50 points down, Nifty below 11,750; Yes Bank, Powergrid top gainers

The Sensex and Nifty turned choppy in the afternoon trade on Thursday, after trading higher in the late morning. The Sensex ended 50 points down to 38,981.43, while the Nifty is closed below the 11,750-mark. Jet Airways shares closed 12% lower at 134.85 after reports indicated that bidders have not shown interest in the airline. Yes Bank shares closed 3.5% higher at Rs 173.80, while Powergrid shares ended 1.9% higher at Rs 189, to emerge among the biggest Sensex gainers. A look at live Sensex heatmap.

11:48 (IST)02 May 2019
Jet Airways share price plunges to 10-year low after report says bidders show no interest

Shares of debt-ridden private sector carrier Jet Airways plunged to a fresh 10-year low on Thursday morning, after a media report indicated that bidders have remained uninterested in following up on their bids. Jet Airways share price plunged by more than 20% to hit the day’s low at Rs 122. According to a report by the Economic Times, bidders for the private sector carrier so far remain uninterested in following up on their expressions of interest, dealing a major blow to the early revival of the airline.

Also read: Jet Airways share price plunges to 10-year low after report says bidders show no interest

10:39 (IST)02 May 2019
BSE live: Sensex up 110 points, Nifty near 11,800; Jet Airways share price down 20%

After opening lower, the Sensex and Nifty are recovered in the morning trade on Thursday morning. The Sensex is up about 108 points to 39,139.14, while the Nifty is trading above the 11,750-mark. Jet Airways share price plunged by more than 20% to hit a 10-year low at Rs 122. A look at LIVE Sensex heatmap.

10:22 (IST)02 May 2019
What will sway the market today: Crude oil prices, Qaurterly earnings and other key things to watch out for

Indian headline indices- Sensex and Nifty opened lower on Thursday morning amid weak global cues. Indian stocks markets were closed on Wednesday due to labour day in Maharashtra. The SGX Nifty ended down at 11,780.50 points, lower by 68.50 points. Today, while the Sensex is trading lower at 38,956.99, down 74.56 points, Nifty is also trading in red at 11,722.50 level, down by 0.22% points. We take a look at the key things which will drive the market today.

Also read: What will sway the market today: Crude oil prices, Qaurterly earnings and other key things to watch out for

10:04 (IST)02 May 2019
Hero MotoCorp to speed up launches of scooters, premium bikes

Hero MotoCorp has decided to speed up launches of both scooters and premium bikes to fill product gaps that are hurting margins and market share. The Gurgaon-headquartered firm will hike capital expenditure, almost doubling it to `1,500 crore in 2019-20, and overhaul its dealer network. Funds will be used to develop products, commission the Andhra Pradesh plant and add BS-VI engine lines. The company, at present, has a dismal 9% market share in the scooters space while sales of premium bikes account for less than 2% of the market.

Also read: Hero MotoCorp to speed up launches of scooters, premium bikes

09:46 (IST)02 May 2019
BlackBuck raises $150 million; Goldman Sachs, Accel lead round

Online marketplace for trucking BlackBuck has raised $150 million in a new funding round led by Goldman Sachs Investment Partners and Silicon Valley-based Accel Partners. This takes the total amount of funds raised by the company to over $230 million. Other new investors include Wellington, Sequoia Capital, B Capital and LightStreet. The round also saw participation from existing investors Sands Capital and International Finance Corporation, the investment arm of the World Bank.

Also read: BlackBuck raises $150 million; Goldman Sachs, Accel lead round

09:25 (IST)02 May 2019
BSE live: Sensex down 60 points, Nifty below 11,750; Maruti Suzuki, IndusInd Bank top losers

The Sensex and Nifty are likely to opened lower on Thursday morning, tracking weak global cues. The Sensex is down about 64 points to 38,968.28, while the Nifty is trading below the 11,750-level. Maruti Suzuki shares are trading 1.4% lower at Rs 6,567.15, while IndusInd Bank shares are down by nearly 1% to Rs 1,593, to emerge among the biggest Sensex gainers. A look at LIVE Sensex heatmap.

09:19 (IST)02 May 2019
Victory for RBI: Madras HC sets aside its single-judge order on NBFC registration

In a victory to Reserve Bank of India (RBI), a division bench of the Madras High Court has set aside a single judge order that ordered restoration of Certificate of Registration (CoR) of non-banking financial companies (NBFC) cancelled by the central bank for non-compliance of the enhanced net owned fund (NOF) norms.The bench also directed the NBFCs to approach the appellate authority within 30 days and raise their concerns to get the greivances redressed.

Also read: Victory for RBI: Madras HC sets aside its single-judge order on NBFC registration

09:17 (IST)02 May 2019
Lenders to take 52% haircut as Patanjali’s resolution plan for Ruchi Soya gets the go-ahead

With the committee of creditors (CoC) having approved Patanjali Ayurved’s Rs 4,350 crore resolution plan for Ruchi Soya, another resolution of a troubled business appears to be in sight. In this instance, lenders have agreed to a 52% haircut on the admitted claims. The CoC is expected to place the resolution plan before the National Company Law Tribunal (NCLT) for its approval before May 7. The Patanjali plan proposes a `115-crore infusion into Ruchi Soya. Patanjali’s proposal for Ruchi Soya, currently in the midst of the corporate insolvency resolution process (CIRP), received a 96% approval from CoC following a vote that concluded at 8 pm on Tuesday.

Also read: Lenders to take 52% haircut as Patanjali’s resolution plan for Ruchi Soya gets the go-ahead

08:48 (IST)02 May 2019
Maruti sales skid in April, lowest since December 18

Weak demand and high finance, insurance cost drove down Maruti’s April local PV volumes by 19% y-o-y — lowest since December 2018. It was also hurt by a high base in April 2018.

See chart: Maruti sales skid in April, lowest since December 18

08:42 (IST)02 May 2019
SEBI imposes Rs 36 lakh fine on 7 companies; here’s why

SEBI levied a fine of Rs 36 lakh on seven firms on Wednesday for manipulative and fraudulent trade activities in illiquid stock options of BSE. An investigation was carried out into the  trading activity in illiquid stock options on BSE from April 2014 to September 2015 by the market regulator. The probe was conducted after observing large-scale reversal of trades in the stock options segment of the exchange. While firms Varun Vinimay Pvt Ltd, Shri Balaji Trade, Leela News Network Pvt Ltd, Maa Amba Towers Ltd, Bermaco Energy System and Calendula Teledata were imposed a fine Rs 5 lakh each. Maa Ambe Warehousing Pvt Ltd was fined Rs 6 lakh, SEBI orders revealed.

Also read: SEBI imposes Rs 36 lakh fine on 7 companies; here’s why

08:41 (IST)02 May 2019
Shared prosperity? Billionaires under fire confront wealth gap at Milken Conference

In Beverly Hills, the chicken Caesar salad costs $25.95. Stephen Schwarzman, with a net worth of $14.3 billion, could buy one for all 329 million people in the U.S. today — and then do so again tomorrow for 222 million of them. The wealth on display this week at the annual Davos-style conference organized by Michael Milken, once of junk-bond fame, is capturing a moment in our age of growing inequality. For the first time in Milken Institute Global Conference’s two-decade-plus history, Schwarzman and the other billionaires and mere multimillionaires here find themselves confronting uncomfortable questions about the source of their wealth: modern American capitalism itself. That chicken Caesar at the Beverly Hilton? The price breaks down to almost four hours of work at the federal minimum wage.

Also read: Shared prosperity? Billionaires under fire confront wealth gap at Milken Conference

08:40 (IST)02 May 2019
Oil caught between pillar and post as U.S. output hits record but market tensions grow

Oil prices were caught between opposing forces on Thursday, squeezed by record U.S. crude oil output and surging stockpiles, but supported by global market tensions as all exemptions to U.S. sanctions on Iran expired, Venezuela’s crisis escalated, and producer club OPEC withheld supply. Spot Brent crude oil futures were at $72.15 per barrel at 0142 GMT, 4 cents below their last close. U.S. West Texas Intermediate (WTI) crude futures were virtually unchanged from their last settlement, at $63.58 per barrel.

Also read: Oil caught between pillar and post as U.S. output hits record but market tensions grow

08:39 (IST)02 May 2019
Asian shares trade sideways as investors await fresh cues

Asian markets marked time on Thursday with two major centres – Japan and China – shut for holidays while the dollar held on to overnight gains after the U.S. central bank poured cold water on rate cut expectations. MSCI’s broadest index of Asia-Pacific shares outside Japan was off 0.1 percent, trading in a tight band. Australian shares slipped 0.7 percent while New Zealand was up 0.4 percent and South Korea’s KOSPI index added 0.1 percent. E-Mini futures for the S&P 500 were unchanged. Trading in Japan will resume next Tuesday while China will be back in action on Monday.

Also read: Asian shares trade sideways as investors await fresh cues

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