Share Market Highlights: Sensex ends 142 points higher, Nifty above 10,750; Tata Motors, Vedanta among top gainers

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Updated: February 21, 2019 3:53:57 pm

Track Share Market Highlights: The stock markets Sensex and Nifty, made a smart rebound in the afternoon trade on Thursday. The Sensex closed 142 points higher at 35,898.35, while the Nifty closed above the 10,750-mark.

December quarter: Promoter share pledging within BSE200 at 8-yr highIndian Share Market Highlights: Tata Motors shares rallied by nearly 3% to Rs 169.70, while VEDL share price zoomed more than 2.5% to Rs 164.60.

Stock Market Highlights: The stock markets Sensex and Nifty, made a smart rebound in the afternoon trade on Thursday. The Sensex closed 142 points higher at 35,898.35, while the Nifty closed above the 10,750-mark. Tata Motors shares rallied by nearly 3% to Rs 169.70, while VEDL share price zoomed more than 2.5% to Rs 164.60, to emerge among the biggest Sensex gainers.  Shares of PSU banks Punjab National Bank and Corporation Bank jumped after the government infused approved Rs 48,239 crore capital infusion into 12 public sector banks (PSBS). PNB shares closed 3% higher at Rs 73, while Corporation Bank shares ended 20% higher at Rs 30.20.

Earlier, US stocks ended higher on Wednesday after minutes from the Federal Reserve’s last meeting reaffirmed for investors that the U.S. central bank would be “patient” with respect to further interest rate hikes. Asian shares held near 4-1/2-month highs on Thursday after U.S. Federal Reserve minutes affirmed it would be ‘patient’ on interest rate rises and risk assets got a lift from hopes of further progress in U.S.-China trade talks, Reuters reported. We bring to you LIVE updates.

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Share Market Highlights: Sensex, Nifty, Indian Rupee vs US Dollar, Latest Stock Market News, NSE, BSE

Highlights

    15:51 (IST)21 Feb 2019
    BSE live: Sensex ends 142 points higher, Nifty above 10,750; Tata Motors, Vedanta among top gainers

    The stock markets Sensex and Nifty, made a smart rebound in the afternoon trade on Thursday. The Sensex closed 142 points higher at 35,898.35, while the Nifty closed above the 10,750-mark. Tata Motors shares rallied by nearly 3% to Rs 169.70, while VEDL share price zoomed more than 2.5% to Rs 164.60, to emerge among the biggest Sensex gainers. A look at LIVE Sensex heatmap.

    15:27 (IST)21 Feb 2019
    PSU bank recapitalisation: Where will government get Rs 48,000 crore for capital infusion?

    Raising question on the availability of funds required by the government for bank recapitalisation, CARE Ratings said that it is not clear where the funds will be allocated from. It could be from the interim dividend announced a couple of days back or through the RBI reserves, it added. The central government on Wednesday announced the infusion of Rs 48,239 crore for recapitalisation of the public sector banks. The move has been taken to strengthen the financial performance of these banks and help them deal with the central bank’s prompt corrective action (PCA) plan.

    Also read: PSU bank recapitalisation: Where will government get Rs 48,000 crore for capital infusion?

    15:08 (IST)21 Feb 2019
    India’s largest law firm is looking to back your next big startup; here’s what you need

    India’s largest law firm, Cyril Amarchand Mangaldas has announced setting up of India’ first incubator for startups in the legal sector. Named Prarambh, the incubator will incubate startups to launch technology-based solutions for the legal industry. Prarambh will focus on areas including access to justice, dispute resolution, transaction efficiencies, law firm operations, legal research, compliance, contract management, managing legal talent, and others, the law firm said in a statement.

    Also read: India’s largest law firm is looking to back your next big startup; here’s what you need

    14:53 (IST)21 Feb 2019
    Rs 3,000 crore penalty on Airtel, Vodafone, Idea over Reliance Jio issue: Decision deferred

    The Digital Communications Commission (DCC), formerly known as Telecom Commission, Thursday deferred the decision on cumulative penalty of Rs 3,050 crore on Airtel, Vodafone and Idea to its next meeting, according to an official source. The telecom watchdog Trai in October 2016 recommended imposing total penalty of Rs 3,050 crore on Bharti Airtel, Vodafone and Idea for allegedly denying interconnectivity to newcomer Reliance Jio.

    Also read: Rs 3,000 crore penalty on Airtel, Vodafone, Idea over Reliance Jio issue: Decision deferred

    14:42 (IST)21 Feb 2019
    Barclays income boost cheers investors, makes Brexit provision

    Barclays reported a lower than forecast attributable profit of 3.5 billion pounds ($4.56 billion) for 2018, as it set aside cash to cushion against Brexit losses and its trading business weathered a difficult fourth quarter. Barclays did show signs of progress in its under-pressure investment bank, where profit for the full year increased 15 percent to 2.6 billion pounds as its equities trading unit saw income rise 25 percent. The bank’s shares were up 4.3 percent by 0820 GMT.

    Also read: Barclays income boost cheers investors, makes Brexit provision

    14:36 (IST)21 Feb 2019
    Reckitt Benckiser to ‘hyper-target’ Indian consumers for e-commerce push

    Consumer goods giant Reckitt Benckiser will be using digital technology for boosting its e-commerce growth in emerging markets like India and China. It will ‘unlock the emerging markets’ by hyper-targeting consumers digitally to grow online, the company said in its Q4 2018 post earnings call this week. “In India, we have seen 10x the e-commerce growth over the last 3 years,” Rob De Groot, President of Hygiene Home Business at Reckitt Benckiser said.

    Also read: Reckitt Benckiser to ‘hyper-target’ Indian consumers for e-commerce push

    13:20 (IST)21 Feb 2019
    Tech Mahindra announces first ever share buyback, price fixed at Rs 950; check details

    India’s major IT firm Tech Mahindra has approved its first ever share buyback plan to repurchase up to 2.05 crore shares. The firm has fixed the share buyback price at Rs 950, implying a premium of 16.9% from yesterday’s closing price of Rs 812.40 on NSE. Notably, the firm has fixed Wednesday, 6th March, 2019 as the record date for the purpose of ascertaining the eligibility of shareholders to participate in the Buyback.

    Also read: Tech Mahindra announces first ever share buyback, price fixed at Rs 950; check details  

    12:34 (IST)21 Feb 2019
    5 money tips for newlyweds to put their financial house in order

    Shortly after your wedding and honeymoon, reality sets in. When you start co-living and co-existing, you also start so-spending and co-saving. This may all seem a little overwhelming as you embark on this new journey. However, instead of shying away from your partner, adopt an approach that’s governed by absolute honestly.

    Also read: 5 money tips for newlyweds to put their financial house in order

    12:15 (IST)21 Feb 2019
    Anil Ambani's Reliance Capital invites partner Nippon Life Insurance to acquire its up to 42.88% stake in RNAM

    "Reliance Capital Ltd. has invited its partner, Nippon Life Insurance Co. Ltd. to make an offer to acquire up to 42.88% stake held by Reliance Capital in Reliance Nippon Life Asset Management Ltd. (RNAM). Nippon Life Insurance Co. Ltd. already holds 42.88% stake in RNAM. Further announcements shall be made at the appropriate time," Reliance Capital said in a statement to the stock exchange.

    12:05 (IST)21 Feb 2019
    Tech Mahindra shares trade higher after firm announces buyback;

    Shares of IT major Tech Mahindra gained in trade on Thursday morning, after the firm its share buyback plan. Tech Mahindra shares jumped 3.4% to hit the day's high at Rs 840.10 on BSE. Tech Mahindra has approved a buyback of up to 2.05 crore shares worth Rs 1,956 crore at Rs 950 per share. The record date for the same is March 6, the company said in a release to exchanges. The buyback share price represents a 15% premium as compared to yesterday's closing price.

    11:49 (IST)21 Feb 2019
    Anil Ambani's Reliance Communications says confident of paying Rs 550 crore within 4 weeks after Supreme Court snub

    "Reliance Communications group has requested urgent approval from its lenders to release approx. Rs 260 crore received from Income Tax refunds, lying in its bank account, directly to Ericsson. A sum of Rs 118 crore has already been deposited with the Hon’ble Supreme Court. RCOM is confident of raising the balance approx Rs. 200 crore for payment to Ericsson, in order that the entire Rs 550 crore plus interest thereon stands paid to Ericsson well within the time of 4 weeks allowed by the Hon’ble Supreme Court," RCom said in a press release. 

    11:39 (IST)21 Feb 2019
    BSE live: Sensex rebounds, Nifty above 10,750; ICICI Bank, Tech Mahindra shares among top gainers

    The stock markets Sensex and Nifty, made a smart reboud in the late morning trade on Thursday, buoyed by a rally in bleuchip heavyweights. The Sensex is up about 106 points to 35,861.84, while the Nifty is trading above the 10,750-mark. ICICI Bank shares are trading 2.5% higher at Rs 353.60, while Tech Mahindra shares are trading 3.4% higher at Rs 840, after the firm announced its share buyback plan. A look at LIVE Sensex heatmap.

    11:16 (IST)21 Feb 2019
    Gold hovers near 10-month peak amid steady dollar after Fed minutes

    Gold prices were firm near a 10-month peak on Thursday, with the dollar holding steady in the wake of minutes from the latest U.S. Federal Reserve meeting that rekindled expectations of a possible rate hike later in the year.  Spot gold had gained 0.1 percent to $1,339.99 per ounce by 0054 GMT, having touched $1,346.73 per ounce in the previous session, its highest level since April 20.  U.S. gold futures were down 0.4 percent at $1,342.5 per ounce.

    Also read: Gold hovers near 10-month peak amid steady dollar after Fed minutes

    10:47 (IST)21 Feb 2019
    Expert take: Nifty Q3 earnings robust overall, auto dissapoints

    'The earnings in Q3FY19 has been much better compared to Q2FY19 since we have seen improvement in numbers that have been reported as compared to its previous quarters with many companies beating the estimates while also those companies that have missed the street expectations in last quarter has seen some spin around. Since we are focusing on Nifty 50 companies; 40% of the companies have been in line while moreover, the same percentage of the companies of the Index has seen Q3FY19 earnings within expectations,' Mustafa Nadeem, Epic Research told in a note to FE Online. 

    10:22 (IST)21 Feb 2019
    PSU bank stocks jump: Punjab National Bank, Corporation Bank shares surge on capital infusion approval

    Shares of public sector lenders Corporation Bank, Punjab National Bank and Union Bank gained in trade on Thursday morning, after the government announced Rs 48,000 crore capital infusion plan. Punjab National Bank shares are trading 3% higher at Rs 76, while Corporation Bank shares gained nearly 20% to hit the day's high at Rs 29.85. The PSU Bank index is trading nearly 1% higher, buoyed by the gains in shares of Cetral Bank of India, PNB and Union Bank. A look at PSU Bank index.

    10:13 (IST)21 Feb 2019
    BSE live: Sensex turns choppy, Nifty below 10,750; Corporation Bank surges 20%; PNB up 5%

    After opening marginally higher on Thursday, the stock markets- Sensex and Nifty opened turned choppy in the morning trade. Sensex is down about 10 points to 35,746.46, while the Nifty is trading below the 10,750-mark. Shares of auto-maker Maruti Suzuki and IT major Infosys are trading 1.3% lower to emerge among the biggest Sensex losers.

    10:01 (IST)21 Feb 2019
    Rupee gains marginally, opens higher at 71.02 per US dollar

    Rupee opened marginally higher at Rs 71.02 per dollar on Thursday versus previous close 71.12, according to Bloomberg index. On Wednesday, the domestic currency snapped a four-session downturn to appreciate by 23 paise against the greenback amid easing oil prices and a firm greenback. A positive trend in the global equity markets, which rose on optimism surrounding the ongoing US-China trade talks, also supported the rupee, analysts told news agency PTI.

    Also read: Rupee gains marginally, opens higher at 71.02 per US dollar

    09:35 (IST)21 Feb 2019
    BSE Live: Sensex up 75 points, Nifty above 10,750; Corporation Bank surges 20%; PNB up 5%

    The stock markets- Sensex and Nifty opened marginally higher tracking positive global cues. Sensex is up about 50 points to 35,807.47, while the Nifty is trading above the 10,750-mark. Shares of PSU banks Punjab National Bank and Corporation Bank jumped in the morning, after the government infused approved Rs 48,239 crore capital infusion into 12 public sector banks (PSBS). PNB shares are trading 5% higher at Rs 76, while Corporation Bank shares are trading 20% higher at Rs 29.85. A look at LIVE Sensex heatmap.

    09:14 (IST)21 Feb 2019
    Oil ticks over near 2019 highs amid OPEC cuts, but economic slowdown applies brakes

    Oil prices hovered close to 2019 highs on Thursday, bolstered by OPEC-led supply cuts and U.S. sanctions on Venezuela and Iran, but were prevented from rising further by slowing growth in the global economy. U.S. West Texas Intermediate (WTI) crude oil futures were at $57.33 per barrel at 0256 GMT, 17 cents, or 0.3 percent, above their last settlement, but below their 2019 high of $57.55 reached the previous day. (Reuters reported)

    09:12 (IST)21 Feb 2019
    Wall Street ends up slightly as Fed minutes support cautious stance

    U.S. stocks ended higher on Wednesday after minutes from the Federal Reserve's last meeting reaffirmed for investors that the U.S. central bank would be "patient" with respect to further interest rate hikes. But policymakers gave little sense of how long their "patient" stance on the U.S. rate policy would last, according to minutes from the Jan. 29-30 meeting, resulting in jumpy afternoon activity and stocks trading on both sides of unchanged. (Reuters reported)

    09:10 (IST)21 Feb 2019
    Asia shares steady after Fed minutes, Aussie rallies

    Asian shares held near 4-1/2-month highs on Thursday after U.S. Federal Reserve minutes affirmed it would be 'patient' on interest rate rises and risk assets got a lift from hopes of further progress in U.S.-China trade talks. MSCI's broadest index of Asia-Pacific shares outside Japan were steady in early trade, hovering just off their highest since early October. Australian shares gave up early gains, last trading 0.1 percent lower, but the Australian dollar rallied in the wake of strong full-time jobs figure. (Reuters reported)

    09:06 (IST)21 Feb 2019
    Mukesh Ambani’s RIL world’s 6th fastest growing retailer; beats Jeff Bezos’ Amazon, Nike

    Mukesh Ambani’s Reliance Industries Ltd has set another record by ranking as the sixth fastest growing retail company in the world on a list released by Deloitte, beating global giants such as Amazon, GS Retail, Nike and others. American grocery firm Albertsons Companies topped the list, followed by Chinese retailer Vipshop. RIL has also featured among the top 100 ‘global retailing powers’ — a list of 250 large global retail companies. RIL ranks 94 on global retailing powers list, outranking 156 global giants, including the likes of Metro Inc, Staples, Next and others. US-based Walmart tops the global retailing powers list.

    Also read: Mukesh Ambani’s RIL world’s 6th fastest growing retailer; beats Jeff Bezos’ Amazon, Nike

    09:04 (IST)21 Feb 2019
    Vedanta shares jump 5%; emerge biggest Sensex gainer after firm denies reports of last minute bid for Essar Steel

    Shares of billionaire Anil Agarwal-led Vedanta surged in trade on Wednesday to emerge among the biggest Sensex gainers after the firm denied media reports of making a last minute bid for Essar Steel. Vedanta share price gained  by more than 5% intra-day to Rs 160.90 on NSE. The shares closed 4.67% higher on BSE, to become the biggest gainers in the Sensex. “This is in reference to the various news items appearing today with respect to alleged discussions between Vedanta and JSW Steel for a possible last-minute joint bid for Essar Steel,” Vedanta said in a stock exchange filing.

    Also read: Vedanta shares jump 5%; emerge biggest Sensex gainer after firm denies reports of last minute bid for Essar Steel

    09:04 (IST)21 Feb 2019
    Modi govt to infuse Rs 40,000 crore into 12 PSU banks; check who gets how much

    The government on Wednesday approved Rs 48,239 crore capital infusion into 12 public sector banks (PSBS) in this financial year to help them maintain regulatory capital requirements and finance growth plans. “Govt approves ₹ 48239 cr recap to 12 PSBs (₹ 1 lakh cr in FY) to equip 2 better-performing PSBs to be above reg PCA triggers, ensure PSBs brought out remain above PCA triggers, avoid PCA for PSBs in breach, & min reg capital for all PCA PSBs,” DFS Secretary Rajeev Kumar said in a tweet.

    Also read: Modi govt to infuse Rs 40,000 crore into 12 PSU banks; check who gets how much

    Share market on Wednesday: The stock markets- Sensex and Nifty extended gains in the afternoon trade on Wednesday, s metal, banking and realty stocks soared amid sustained buying by domestic investors. The Sensex closed 403.65 points higher at 35,756.26 while the Nifty ended 131 points higher at 10,735.45. Tata Steel share price zoomed by more than 4.75% t0 Rs 493.65, while Vedanta shares closed 4.77% higher at Rs 160.30, to emerge as the biggest gainer in the Sensex.
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