Share market Highlights: Sensex ends 482 points higher, Nifty above 11,300; Bharti AIrtel, ICICI Bank among top gainers

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Updated:Mar 12, 2019 3:44:05 pm

Share market Highlights: The Sensex and Nifty closed higher for the second consecutive day on Tuesday, backed by strong foreign fund inflows and gains in financial heavyweights. The Sensex surged 482 points to close at 37,535.66, while Nifty ended above the 10,300-mark.

Stock Market, Share Market Live, Stock Market Live, Nifty Live, NSE live, BSE live, स्टॉक मार्केट, शेयर बाजार, Live Market Update, Market Today, Indian Share Market Live, Indian Stock Market LiveStock Market Highlights: HDFC Life Insurance shares tanked by more than 4.5% to Rs 372.60.

Share market Highlights: The Sensex and Nifty closed higher for the second consecutive day on Tuesday, backed by strong foreign fund inflows and gains in financial heavyweights. The Sensex surged 482 points to close at 37,535.66, while Nifty ended above the 10,300-mark. Bharti Airtel shares closed 5% higher at Rs 350.50, while ICICI Bank shares ended at Rs 388.70 on BSE.  Nifty Bank Index rose by more than 1.4% intra-day to hit record high of 28,488.10. 

The pound jumped on Tuesday and Asian shares rose after the European Commission agreed to changes in a Brexit deal ahead of a vote in the British parliament on a divorce agreement. European Commission head Jean-Claude Juncker agreed to additional assurances in an updated Brexit deal with British Prime Minister Theresa May on Monday, but warned UK lawmakers would not get a third chance to endorse it, Reuters reported. We bring to you LIVE updates.

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15:43 (IST)12 Mar 2019
BSE live: Sensex ends 482 points higher, Nifty above 11,300; Bharti AIrtel, ICICI Bank among top gainers

The Sensex and Nifty closed higher for the second consecutive day on Tuesday, backed by strong foreign fund inflows and gains in financial heavyweights. The Sensex surged 482 points to close at 37,535.66, while Nifty ended above the 10,300-mark. Bharti Airtel shares closed 5% higher at Rs 350.50, while ICICI Bank shares ended at Rs 388.70 on BSE.  Nifty Bank Index rose by more than 1.4% intra-day to hit record high of 28,488.10. 

15:17 (IST)12 Mar 2019
PSU shares public offer: Govt mulls another tranche of CPSE ETF in March | EXCLUSIVE

The government is mulling to launch a further public offer of its CPSE ETF in the current month of March itself, in a bid to achieve its ambitious disinvestment target, a Finance Ministry official told Financial Express Online, requesting anonymity. “The alternate mechanism for disinvestment is meeting tomorrow to decide on the pricing of CPSE ETF and its composition,” the official said. This will be the fifth tranche overall of CPSE ETF -- a basket of 11 blue-chip PSUs -- and second in this fiscal year itself. Earlier, CPSE ETF's public offer in November 2018 saw roaring success in November 2018, garnering Rs 17,000 crore from investors.

Also read: PSU shares public offer: Govt mulls another tranche of CPSE ETF in March | EXCLUSIVE

15:04 (IST)12 Mar 2019
Asia's richest banker Uday Kotak gets richer; wealth jumps to $11.4 billion amid 5-year tussle with RBI

Going toe to toe with a powerful regulator isn’t normally good for your financial health. But it has proven to be profitable, on paper at least, for India’s billionaire banker Uday Kotak. The founder of Mumbai-based Kotak Mahindra Bank Ltd. has seen his wealth nearly triple since March 2014, when the Reserve Bank of India said he failed to meet the first of its successive milestones to reduce his stake in the bank. His wealth now stands at $11.4 billion, according to the Bloomberg Billionaires Index, mainly due to share price gains that have increased the value of his holding in KMB, currently 30 percent.

Also read: Asia's richest banker Uday Kotak gets richer; wealth jumps to $11.4 billion amid 5-year tussle with RBI

14:33 (IST)12 Mar 2019
Yatra.com up for sale? Says will review Ebix’s buyout offer as latter eyes stronghold in travel market

Nasdaq-listed India’s second largest online travel agency Yatra today said that it will review the proposal for its acquistion sent by global on-demand software and e-commerce services provider Ebix. The latter announced sending of a letter to Yatra’s board for the deal on Monday. This would mark one of the biggest consolidation in India’s online travel market after more than two years since market leader MakeMyTrip acquired competitor GoIbibo. The deal will also make Ebix, which has already acquired multiple travel companies, a formidable player in the online travel market. After acquiring Via.com in November 2017, Ebix acquired a range of companies in the travel market such as Mercury, Leisure Corp, Pearl International Tours & Travel, and Lawson Travel & Tours, to go deeper into the segment.

Also read: Yatra.com up for sale? Says will review Ebix’s buyout offer as latter eyes stronghold in travel market

14:14 (IST)12 Mar 2019
Morgan Stanley ups emerging markets 2019 target; says, pre-election spend in India assisting domestic demand

MSCI Emerging Markets Index is likely to rise by 8 per cent by year-end on account of additional stimulus from China, longer pause by US Federal Reserve, the inclusion of China A shares in the index, among other factors, Morgan Stanley said in a report. While Brazil, China, India, Indonesia and Singapore are the most preferred markets, Australia, Mexico and the Philippines are the underweights for the bank on the global benchmark. Even as the target for MSCI Emerging Markets Index has been raised to 1,130 from 1,050, MSCI Asia ex-Japan index target has been hiked  by 3 per cent to 540.

Also read: Morgan Stanley ups emerging markets 2019 target; says, pre-election spend in India assisting domestic demand

13:03 (IST)12 Mar 2019
Canada’s Warren Buffett gives thumbs up to Modi’s 5 year term; but here’s his major concern

Prem Watsa, who is popularly known as Canada’s Warren Buffett, rates Narendra Modi’s 5-year tenure highly, saying the economic reforms undertaken by the Indian Prime Minister have helped economy grow. However, BJP-led NDA may face a daunting task in the coming elections on account of coalitions formed by the opposition parties, CEO of Canada-based Fairfax Financial said in a letter to the shareholders of Fairfax India Holdings.

Also read: Canada’s Warren Buffett gives thumbs up to Modi’s 5 year term; but here’s his major concern

12:57 (IST)12 Mar 2019
BSE live: Sensex holds gains, Nifty above 11,250; Bharti Airtel, L&T among top gainers

The Sensex and Nifty are holding on to gains from morning, led by rally in metal, oil and gas, banking and energy stocks amid unabated buying by foreign investors and strong global cues. The Sensex is up 382 points 37,430.76, while the Nifty is trading above the 11,250-mark. L&T shares jumped by nearly 4% to hit Rs 1,394.55 on BSE this morning, after the firm bagged orders worth up to Rs 2,500 crore. Bharti Airtel shares extended gains on Tuesday, trading 5% higher at Rs 350.20 on BSE.

12:49 (IST)12 Mar 2019
L&T shares jump after firm bags orders for power transmission, distribution business

Shares of India's major infrastructure giant L&T jumped on Tuesday morning, after the firm's construction arm bagged power and transmission projects worth Rs 1,000-2,500 crore. L&T share price gained by more than 4% to hit the day's high at Rs 1,403 on NSE. “The Power Transmission & Distribution business of L&T Construction has bagged a number of Engineering, Procurement and Construction orders in India and abroad. In Andhra Pradesh, orders have been secured for design and construction of two 400kV substations and associated transmission lines,” L&T said in a stock exchange filing.

12:00 (IST)12 Mar 2019
HDFC Life Insurance share price falls 6% after Standard Life plans stake sale

Shares of HDFC Life Insurance Company Ltd on Tuesday fell nearly 5.8 per cent on BSE to Rs 367.55, the biggest intraday per cent loss since September 21, 2018. On Monday, Standard Life (Mauritius Holdings) proposed to sell 70 million shares, or 3.47 per cent stake in HDFC Life Insurance, company said. The company also has a green shoe option of 29.5 million equity shares, or 1.46 per cent, in the event the oversubscription option is exercised. The floor price for the offer priced at Rs 357.50 per share, a 8.4 per cent discount to stock’s last closing price.

Also read: HDFC Life Insurance share price falls 6% after Standard Life plans stake sale

11:22 (IST)12 Mar 2019
Lok Sabha polls and stock market: Do elections really matter for rally in Sensex, Nifty?

India being the biggest democratic country (in terms of population) in the world, elections have always assumed a special place in the country’s psyche. From 17.3 crore voters and 53 political parties in the first election (1951) to 83.4 crore voters and 465 political parties in 2014, elections in India have evolved over time with adoption of electronic voting machines and NOTA option being introduced in the electoral process. While the outcome of election does impact various aspects of our economy in different ways, the skepticism associated with stock markets leading up to the elections is palpable. The biggest fear in investors' minds leading up to the elections is the possibility of a fractured mandate resulting in a coalition government of multiple parties.

Also read: Lok Sabha polls and stock market: Do elections really matter for rally in Sensex, Nifty?

10:32 (IST)12 Mar 2019
BSE Live: Sensex jumps 400 points, Nifty nears 10,300; L&T, ICICI Bank shares jump 4%

After opening higher, the Sensex and Nifty extended gains in the late morning trade on Tuesday, led by gains in metal, oil and gas, banking and energy stocks amid unabated buying by foreign investors and strong global cues. The Sensex is up 400 points 37,454.10, while the Nifty is nearing the crucial 11,300-mark. L&T shares jumped by nearly 4% to hit Rs 1,394.55 on BSE this morning, while ICICI Bank shares gained by more than 3% to Rs 390.75. HDFC Life Insurance shares tanked by more than 4.5% to Rs 372.60, while Jet Airways shares gained more than 2% to Rs 253.15.

09:56 (IST)12 Mar 2019
Rupee furthers gains by 25 paise in early trade

The rupee strengthened its gains by 25 paise to 69.64 against the US dollar in early trade on Tuesday, driven by sustained foreign fund inflows and weaker greenback against key rival currencies overseas. Besides, selling of US dollar by exporters and banks also propelled rupee higher. The US dollar index — a measure of the value of the American currency relative to a basket of key foreign currencies — was lower by 0.17 per cent at 97.012. At the Interbank Foreign Exchange, the rupee opened at 69.73 against the US dollar and advanced to 69.64, showing a rise of 25 paise over the previous close.

Also read: Rupee furthers gains by 25 paise in early trade

09:26 (IST)12 Mar 2019
BSE live: Sensex up 250 points, Nifty nears 11,250; HDFC Life down 5%; Jet Airways jumps

The Sensex and Nifty opened higher on Tuesday morning, tracking positive global cues, extending rally for the 2nd consecutive day. The Sensex is up about 275 points to 37,329.46, while the Nifty is trading near the 10,250-mark. HDFC Life Insurance shares tanked by more than 4.5% to Rs 372.60, while Jet Airways shares gained more than 2% to Rs 253.15. Among the major Sensex gainers were shares of Reliance Industries up 1.7% to Rs 1,322.95.  A look at live Sensex heatmap.

09:15 (IST)12 Mar 2019
HDFC Life Insurance says Standard Life to sell 3.4% stake via OFS; key things to know

HDFC Life Insurance Company Ltd on Monday said that its promoter Standard Life will sell 70 million shares or 3.4 per cent stake through an offer for sale (OFS) on March 12 and 13. The sale offer has a green-shoe option of 29.5 million shares, it also said in a regulatory filing. The share sale base price has been fisex at Rs 357.5 per share, it added.

Also read: HDFC Life Insurance says Standard Life to sell 3.4% stake via OFS; key things to know

09:08 (IST)12 Mar 2019
Apple makes better IPhones thanks to this obscure Japanese firm

After two decades in development, chipmakers are making a costly bet on a technology that will cram even more transistors onto silicon. Their success may hinge on a little-known company in the suburbs of Tokyo. Lasertec Corp. is the world’s sole maker of equipment that tests glass squares slightly bigger than a CD case that act as a stencil for chip designs. By shining light through the squares, circuits smaller than the width of a few strands of DNA are imprinted onto silicon wafers in a process called lithography. These templates have to be perfect: even a tiny defect can make every single chip in the batch unusable.

Also read: Apple makes better IPhones thanks to this obscure Japanese firm

08:56 (IST)12 Mar 2019
Jet Airways crisis: Naresh Goyal’s distress call to save airline, seeks Rs 750 crore funding

Jet Airways chairman Naresh Goyal has sought an urgent funding of Rs 750 crore from its equity partner Etihad, citing “the very precarious” position of the airline following the lingering cash flow issues which got amplified after the forced grounding of over 50 of its planes. In a letter to the Abu Dhabi-based carrier’s group chief executive Tony Douglas, Goyal said the airline has also secured the go-ahead from the civil aviation ministry to pledge its shares in JetPrivelege for securing the interim funding. The airline holds a 49.9% stake in the loyalty programme, while the majority is with Etihad.

Also read: Jet Airways crisis: Naresh Goyal’s distress call to save airline, seeks Rs 750 crore funding

08:55 (IST)12 Mar 2019
CERC allows power plants to claim higher compensation for loss in fuel quality of coal

The Central Electricity Regulatory Commission (CERC) has allowed power plants (selling electricity under the ‘cost plus’ system) to receive higher compensation for loss in fuel quality while coal is ferried and stored. Additionally, for computing tariff of power from such plants, the electricity regulator also maintained the base return on equity (RoE) at 15.5%.

Also read: CERC allows power plants to claim higher compensation for loss in fuel quality of coal

08:45 (IST)12 Mar 2019
Oil prices rise amid broad market rally, OPEC supply cuts

Oil prices rose on Tuesday, lifted by healthy demand and output cuts led by producer group OPEC. A rally in broader financial markets also supported crude futures, although analysts still warned of risks to the global economy. U.S. West Texas Intermediate (WTI) crude oil futures were at $56.97 per barrel at 0054 GMT, up 18 cents, or 0.3 percent, from their last settlement. Brent crude futures were at $66.75 per barrel, up 17 cents, or 0.3 percent.

Also read: Oil prices rise amid broad market rally, OPEC supply cuts

08:44 (IST)12 Mar 2019
Wall Street snaps five-day losing streak despite Boeing’s drop

U.S. stocks jumped on Monday as the technology sector led a broad-based rebound following five straight sessions of losses, but a fall in Boeing’s shares limited the Dow’s advance after a deadly airline crash in Ethiopia. Boeing Co, the world’s largest planemaker and best-performing Dow component this year by a wide margin, ended down 5.3 percent at $400.01, registering its biggest one-day percentage drop since Oct. 29, after many airlines grounded the company’s new 737 MAX 8 passenger jet following the second fatal crash involving the aircraft in just five months.

Also read: Wall Street snaps five-day losing streak despite Boeing’s drop

08:43 (IST)12 Mar 2019
Best ELSS options: Top 5 tax saving mutual funds to invest in for 2019

Equity markets are volatile and unpredictable. Mutual funds have also suffered in the current market volatility and decline in prices of some stocks. However, is that any reason to stop investing? Absolutely not. It doesn’t matter at what levels the markets are; investors should be firmly fixed on their goals and continue their investments. Here, I am going to talk about equity-linked savings schemes (ELSS) or tax-savings schemes that they would do well to invest in – primarily for saving on taxes but also for long-term capital growth. All these schemes have a lock-in of 3 years and investments up to Rs 1.5 lakh are tax deductible under Section 80C of the Income Tax Act.

Also read: Best ELSS options: Top 5 tax saving mutual funds to invest in for 2019

08:42 (IST)12 Mar 2019
Gold inches down as updated Brexit deal improves risk appetite

Gold edged lower on Tuesday as appetite for risk improved after the European Commission agreed additional assurances in an updated Brexit deal, while stronger than expected U.S. data eased some fears about an economic slowdown.  As of 0104 GMT, spot gold was down 0.1 percent at $1,293.17 per ounce. U.S. gold futures were up 0.1 percent at $1,292.90 an ounce.

Also read: Gold inches down as updated Brexit deal improves risk appetite

08:41 (IST)12 Mar 2019
Pound climbes as Theresa May gets new Brexit pact ahead of Parliament vote

The pound surged for a second day as the U.K. government said it had secured changes to its divorce deal from the European Union and planned to hold a vote in the U.K. parliament. Sterling climbed as much as 1.1 percent after gaining 1 percent on Monday amid optimism that progress is finally being made to resolve the Brexit standoff. European Commission President Jean-Claude Juncker urged the British parliament to approve the deal as he and U.K. Prime Minister Theresa May briefed reporters following a meeting in Strasbourg.

Also read: Pound climbes as Theresa May gets new Brexit pact ahead of Parliament vote

08:40 (IST)12 Mar 2019
Japanese shares advance on Wall Street rally, weaker yen

Japanese shares rose to a six-day high on Tuesday, lifted by a tech-led rally on Wall Street and as a further weakening in the yen supported exporter stocks. The Nikkei share average was up 1.68 percent at 21,479.48 as of 0142 GMT after brushing 21,491.48, its highest since March 6. The index pulled away from a three-week low of 20,938.00 plumbed on Monday after much weaker-than-expected February U.S. job data knocked global shares lower.

Also read: Japanese shares advance on Wall Street rally, weaker yen

Share market on Monday: The stock markets extended gains in the late afternoon trade on Monday as investor sentiment remained upbeat following announcement of Lok Sabha poll dates. The Sensex surged past the 37,000-mark, and closed 383 points higher at 37,054.10, while Nifty closed at 11,171.05, its highest in 2019. Bharti Airtel shares closed 8.5% higher at Rs 334.95, while Eicher Motors shares ended 5% higher at Rs 22,890 on NSE, to emerge among the biggest Nifty gainers.
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