Share market highlights: Sensex ends 355 points down, Nifty near 11,350; Zee Entertainment, Tata Motors down

By: |
Updated:Mar 25, 2019 4:09:46 pm

Share market highlights: After extending losses in the afternoon trade on Monday, the Sensex and Nifty made a mild recovery in the last hour trade. The Sensex  closed 355.70 points down at 37,808.91, while the Nifty closed near the 11,350-mark.

Small Cap Stocks, Small Cap, Stock Market, BSE Small Cap, स्मालकैप शेयरों में निवेश, स्मालकैप, Invest In Stocks, ReturnShare market highlights: The Sensex is down about 458 points to 37,706.61, while the Nifty is trading near the 11,300-mark.

Stock market highlights: After extending losses in the afternoon trade on Monday, the Sensex and Nifty made a mild recovery in the last hour trade. The Sensex  closed 355.70 points down at 37,808.91, while the Nifty closed near the 11,350-mark. Vedanta shares closed 3.2% lower at Rs 168.35, while Tata Motors shares ended 2.3% down at Rs 171.35. Jet Airways share price closed 12.7% higher at Rs 254.50, after the firm confirmed that Naresh Goyal has stepped down from the board from the airline. 

The US market ended sharply lower on Friday, after the 3-month yield topped 10-year rate resulting in inversion of yeild curve. This is an important indicator of recession. The Asian markets followed suit, with all major indices trading more than 1 per cent down, with Nikkei leading losses. We bring to you LIVE updates.

Live Blog

Highlights

    16:09 (IST)25 Mar 2019
    BSE live: Sensex ends 355 points down, Nifty near 11,350; Zee Entertainment, Tata Motors down

    After extending losses in the afternoon trade on Monday, the Sensex and Nifty made a mild recovery in the last hour trade. The Sensex  closed 355.70 points down at 37,808.91, while the Nifty closed near the 11,350-mark. Vedanta shares closed 3.2% lower at Rs 168.35, while Tata Motors shares ended 2.3% down at Rs 171.35. Jet Airways share price closed 12.7% higher at Rs 254.50, after the firm confirmed that Naresh Goyal has stepped down from the board from the airline. A look at LIVE Sensex heatmap.

    15:02 (IST)25 Mar 2019
    Varun Beverages to acquire PepsiCo’s India franchise rights; gets CCI approval

    PepsiCo India’s bottling partner Varun Beverages Ltd (VBL) Monday said it has received nod from the Competition Commission of India for its proposal to acquire franchise rights of the foods and snacks major in southern and western India. The Competition Commission of India (CCI) in its meeting held on March 22 considered and approved the proposed acquisition, VBL said in a regulatory filing.

    Also read: Varun Beverages to acquire PepsiCo’s India franchise rights; gets CCI approval

    14:43 (IST)25 Mar 2019
    RBI to issue regulatory sandbox guidelines for FinTechs in 2 months, says Shaktikanta Das

    To promote innovation in FinTech space, the central bank will issue guidelines for regulatory sandbox in the next two months, RBI Governor Shaktikanta Das said Monday. A regulatory sandbox is a framework set up by a regulator that allows FinTech startups to conduct live experiments in a controlled environment under supervision. “A ‘Regulatory Sandbox’ would benefit FinTech companies by way of reduced time to launch innovative products at a lower cost. Going forward, the Reserve Bank will set up a regulatory sandbox, for which guidelines will be issued in the next two months,” he said at an event organised by NITI Aayog here.

    Also read: RBI to issue regulatory sandbox guidelines for FinTechs in 2 months, says Shaktikanta Das

    14:32 (IST)25 Mar 2019
    BSE live: Sensex extends losses, Nifty nears 11,300; Sun Pharma, HDFC shares plunge

    After opening sharply lower, the stock markets Sensex and Nifty extended losses in the afternoon trade on Monday. The Sensex is down about 458 points to 37,706.61, while the Nifty is trading near the 11,300-mark. Vedanta shares are trading 3% lower at Rs 168.75, while Sun Pharma stock is trading 2.4% lower at Rs 462.05. Zee Entertainment shares tanked by more than 4% to Rs 417.10. A look at LIVE Sensex heatmap.

    14:10 (IST)25 Mar 2019
    Negotiations better than insolvency: Govt official on Jet Airways

    As Jet Airways battles acute financial woes, a senior government official Monday said a “good outcome” from the negotiations between the creditors and the company would be better than moving for proceedings under the insolvency law. “I think creditors and the debtor are in discussion. That is the best process,” Corporate Affairs Secretary Injeti Srinivas said. He was responding to a query on whether Jet Airways is a fit case to be referred under the Insolvency and Bankruptcy Code (IBC). “If there is a good outcome from the negotiations between the creditors and the corporate debtor, then that is better than dragging into insolvency… but if that (insolvency) is only option left at that stage, then bankers will take a call,” he noted.

    Also read: Negotiations better than insolvency: Govt official on Jet Airways

    13:03 (IST)25 Mar 2019
    Stock market and data analytics: How machine learning helps to reduce trading costs

    Technology is scaling at an exponential rate and today we are processing vast loads of data if numbers are to be believed. A recent report reveals that the total data existing in the world will grow at a CAGR of 61% to 175 zettabytes by 2025 from 33 zettabytes in 2018. These numbers are huge! Today, Machine Learning and Data Analytics are making trading much more efficient. Together, they complement each other and act as catalysts towards improved ability to identify opportunities and reduce trading costs.

    Also read: Stock market and data analytics: How machine learning helps to reduce trading costs

    12:50 (IST)25 Mar 2019
    Amid Jet Airways crisis, Credit Suisse cheers Indigo; check share price target

    Even as cash-strapped carrier Jet Airways continues to see troubled times, foreign brokerage firm Credit Suisse says that low-cost airline Indigo would benefit from the current turbulence in the sector, while upgrading its stock price target. Shares of Interglobe Aviation which runs the Indigo airline surged up to 2% in the early morning trade after foreign brokerage firm Credit Suisse upgraded its rating and target price on account of better yields and fleet addition. The shares gained by more than 1.7% in the morning trade to Rs 1,452.05 on BSE.

    Also read: Amid Jet Airways crisis, Credit Suisse cheers Indigo; check share price target

    12:27 (IST)25 Mar 2019
    Beleaguered businessman Rajat Gupta says should have taken wife’s advice over finance people

    Rajat Gupta, feted business guru turned convicted felon, says he should have trusted his wife’s instincts about tangling with the world of high finance. “These aren’t our people,” the former McKinsey & Co. managing director and former Goldman Sachs Group Inc. director says his wife would tell him. “You’re too trusting and you think everyone will be nice to you. Financial people are different than consultants. They’ll eat you for lunch!” The incident is part of Gupta’s memoir, “Mind Without Fear,” titled after a poem by revered Indian Nobel laureate Rabindranath Tagore, whose work also lends a name to Gupta’s firstborn, Geetanjali.

    Also read: Beleaguered businessman Rajat Gupta says should have taken wife’s advice over finance people

    12:24 (IST)25 Mar 2019
    RBI governor Shaktikanta Das to meet heads of payments banks; ‘sandbox’ guidelines soon

    RBI Governor Shaktikanta Das Monday said he will be meeting heads of payments banks later this week to understand their issues and concerns. As many as seven payments banks have commenced their operations. He also said that guidelines on regulatory sandbox will be issued in the next two months to promote FinTech in the country. A sandbox approach means experimenting and learning before finally adopting a technology or system. This approach helps in containing the impact of failures.

    Also read: RBI governor Shaktikanta Das to meet heads of payments banks; ‘sandbox’ guidelines soon

    11:57 (IST)25 Mar 2019
    Jet Airways share price jumps amid reports that Naresh Goyal will step down as Chairman; key things to know

    Shares of private sector airline surged in trade on Monday after reports that Chairman Naresh Goyal and his wife Anita Goyal are expected to leave the board of the cash-strapped airline on Monday. Jet Airways share price gained by nearly 4% to hit the day's high at Rs 234.55. Jet Airways Chairman Naresh Goyal and his wife Anita Goyal are expected to leave the board of the cash-strapped airline on Monday, ET Now reported citing sources as saying. The current Chief Executive Vinay Dube is expected to stay on board, the report added.

    Also read: Jet Airways share price jumps amid reports that Naresh Goyal will step down as Chairman; key things to know

    10:52 (IST)25 Mar 2019
    Gold prices pick up; U.S. recession fears boost safe-haven assets

    Gold rose on Monday as investors’ appetite for riskier assets faded on concerns about a potential U.S. recession and decelerating global growth, increasing appeal for the bullion alongside yen and bonds. Spot gold was up 0.2 per cent at $1,316.11 per ounce as of 0422 GMT, while U.S. gold futures gained 0.3 per cent to $1,315.80 an ounce. The metal last week posted its third consecutive weekly gain and rose 1 per cent, the most since the week ended Feb. 1. Investors dumped shares and fled to the safety of bonds, while the Japanese yen hovered near a six-week high. “Market is in a risk aversion mode. It seems that the data from Friday night, of U.S. and Europe, didn’t come as expected,” said Michael McCarthy, chief market strategist, CMC Markets. 

    Also read: Gold prices pick up; U.S. recession fears boost safe-haven assets

    10:40 (IST)25 Mar 2019
    Jet Airways chairman Naresh Goyal to step down as chairman on Monday: Report

    Jet Airways Ltd Chairman Naresh Goyal and his wife Anita Goyal are expected to leave the board of the cash-strapped airline on Monday, ET Now television channel reported. Chief Executive Vinay Dube is expected to stay on board the 25-year-old airline Goyal set up with his wife in 1993, according to the report. Earlier this month, Reuters reported that Goyal had agreed to step down as chairman and reduce his 51 per cent stake in the airline. The report also said that Jet’s lenders may invoke Goyal’s entire stake in the airline, and start looking for a new buyer in the coming weeks.

    Also read: Jet Airways chairman Naresh Goyal to step down as chairman on Monday: Report

    10:37 (IST)25 Mar 2019
    BSE live: Sensex remains under pressure, Nifty near 11,350; Tata Motors, SBI shares down

    After opening sharply lower, the stock markets Sensex and Nifty remains under pressure in the morning trade on Monday. The Sensex is down about 321 points to 37,844, while the Nifty is trading near the 11,350-mark. SBI shares are trading 1.8% down at Rs 292.75 in the morning trade. Sun Pharma shares are trading 2% lower at Rs 463.50, while the shares of Tata Motors are trading 1.5% lower at Rs 172.75, after reports the auto major is set to increase prices of some cars by Rs 25,000. A look at LIVE Sensex heatmap.

    10:00 (IST)25 Mar 2019
    Rupee sheds 16 paise against US dollar in early trade

    The rupee depreciated 16 paise to 69.11 against the US dollar in opening trade Monday on month-end demand for the American currency from importers amid a weak opening in domestic equity market. Besides, the US dollar edged back from a six-week low against the yen and this factor also weighed on the Indian rupee, dealers said. At the Interbank Foreign Exchange (forex) market, the domestic unit opened lower at 69.07 and slipped further to 69.14 but recovered partially to quote 16 paise down at 69.11 against the dollar.

    Also read: Rupee sheds 16 paise against US dollar in early trade

    09:28 (IST)25 Mar 2019
    BSE live: Sensex down 340 points, Nifty below 11,400; Sun Pharma, Tata Motors among top losers

    The stock markets Sensex and Nifty opened lower on Monday morning, tracking weak global cues, after yield curve inverted on Friday raising fears of a recession. The Sensex is down about 330 points to 37,834.32, while the Nifty is trading below the 11,400-mark. Sun Pharma shares are trading 2% lower at Rs 463.50, while the shares of Tata Motors are trading 1.5% lower at Rs 172.75, after reports the auto major is set to increase prices of some cars by Rs 25,000. A look at LIVE Sensex heatmap.

    09:04 (IST)25 Mar 2019
    Tata Capital to raise $100 million in ECB; key things to know

    Tata Capital, the financial services arm of the diversified conglomerate, will be raising USD 100 million in foreign borrowings through an arm by next week, a top official has said. The external commercial borrowing (ECB) being raised by Tata Capital Housing Finance is part of a liabilities diversification programme, Tata Capital managing director and chief executive Rajiv Sabharwal said. “We will do a borrowing of USD 100 million before the end of the fiscal year,” Sabharwal told PTI recently.

    Also read: Tata Capital to raise $100 million in ECB; key things to know

    08:55 (IST)25 Mar 2019
    Aussie shares drop on US recession fears, New Zealand also falls

    Australian shares neared a four-week low on Monday as investors fled risk-sensitive assets on worries about a looming U.S. recession, but gold stocks gained on safe-haven buying. Broad-based losses pushed the benchmark S&P/ASX 200 index down 1.2 percent, or 71.7 points, to 6,123.5 by 0034 GMT. The benchmark firmed 0.5 percent on Friday.

    Also read: Aussie shares drop on US recession fears, New Zealand also falls

    08:53 (IST)25 Mar 2019
    Asian stocks tumble, bonds rally as US recession risk flashes “amber”

    Investors dumped shares on Monday and fled to the safety of bonds while the Japanese yen hovered near a six-week high as risk assets fell out of favour on growing worries about an impending U.S. recession, sending global yields plunging. U.S. stocks futures turned negative in early Asian trading with E-minis for the S&P 500 skidding 0.5 percent. MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.6 percent to a one-week low. Japan’s Nikkei tumbled 2.9 percent, South Korea’s Kospi index declined 1.5 percent while Australian shares faltered 1.3 percent.

    Also read: Asian stocks tumble, bonds rally as US recession risk flashes “amber”

    08:49 (IST)25 Mar 2019
    Turning the corner? India’s power capacity addition falls to a two-decade low

    If India’s power sector has seen a spate of loan defaults and insolvencies in recent years on ambitious demand projections going awry, the current financial year has witnessed the lowest rate of addition in net generation capacity in at least the past two decades (see chart). According to data reviewed by FE, the capacity addition on a net basis — the difference between the plants commissioned and retired — stood at 6,160 MW at February-end, a meagre 1.8% increase from the level of installed capacity at the start of the fiscal.

    Also read: Turning the corner? India’s power capacity addition falls to a two-decade low

    08:46 (IST)25 Mar 2019
    Explained: How India can reduce oil and gas imports

    Despite prime minister Narendra Modi’s plan to cut import dependence in the oil and gas sector by 10 percentage points by 2022, a series of major policy missteps (goo.gl/6wGgkT) ensured that import-dependence rose, from 83% in FY13 to 86% in FY18 in the case of oil and from 30% to 45% in the case of gas. Indeed, going by the latest BP Energy Outlook, for 2019, this is going to continue to rise further, to around 95% for oil by 2040 and around 60% in the case of gas. Fortunately, as we will see, that number is not carved in stone and can be reduced if India follows good policies, some part of which we saw when the Cabinet cleared a new gas policy last month.

    Also read: Explained: How India can reduce oil and gas imports

    08:44 (IST)25 Mar 2019
    IDBI Bank still in public sector; no threat of job losses

    IDBI Bank still retains the character of a state-run lender and will continue to be governed by existing rules on hiring, even though it is technically a private bank now due to a drop in the government’s holding following the acquisition of a 51% stake by LIC, official sources told FE. Meanwhile, the All India Bank Employees’ Association (AIBEA) on Wednesday wrote to the Reserve Bank of India (RBI), asking the regulator to reconsider its decision to categorise the bank as a private entity.

    Also read: IDBI Bank still in public sector; no threat of job losses

    08:43 (IST)25 Mar 2019
    Five years of macro-confusion: Credit cycle, NPAs, capacity utilisation point to slowing economy

    In May 2014, the NDA government inherited a difficult economy with slowing growth, high inflation and rising NPAs in the banking system. It had barely managed to wriggle out of a difficult balance-of-payments situation triggered by the “taper tantrum” in May 2013. Prime minister Modi had a historical mandate and an economic backdrop to seize the opportunity for recreating another ”1991 moment” or bring in “Thatcherian reforms” to lift the economy on a higher growth path. 

    Also read: Five years of macro-confusion: Credit cycle, NPAs, capacity utilisation point to slowing economy

    08:40 (IST)25 Mar 2019
    Oil prices slide on concerns of sharp economic slowdown

    Oil prices kicked off the week’s trading with losses as concerns of a sharp economic slowdown outweighed supply disruptions from OPEC’s production cutbacks and U.S. sanctions on Iran and Venezuela. Brent crude oil futures were at $66.79 per barrel at 0022 GMT, down 29 cents, or 0.4 percent, from their last close. U.S. West Texas Intermediate (WTI) futures were at $58.68 per barrel, down 37 cents, or 0.6 percent, from their last settlement. “Inflation expectations have risen,” said U.S. bank Morgan Stanley. “Estimates for growth and earnings have been revised down materially across all major regions.”

    Also read: Oil prices slide on concerns of sharp economic slowdown

    08:39 (IST)25 Mar 2019
    Dollar off six-week lows vs yen, little response to Mueller report

    The dollar edged back from a six-week low against the yen early on Monday, as a degree of calm returned to the market gripped by fears of a recession in the United States. The greenback had tumbled on Friday as the spread between 3-month Treasury bills and 10-year note yields inverted for the first time since 2007 following weak U.S. manufacturing PMI data. An inverted yield curve has historically signalled an impending recession.

    Also read: Dollar off six-week lows vs yen, little response to Mueller report

    Next Stories
    1Sebi seeks greater powers to inspect books, financial records of listed
    2Indices may witness volatility this week, say analysts
    3RBI likely to continue bond buying to support heavy borrowing