Share market highlights: Sensex ends 85 points up, Nifty near 11,700; Maruti Suzuki, Yes Bank among top losers

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Updated:Jul 17, 2019 3:49:39 pm

Share market highlights: The headline indices Sensex and Nifty closed higher on Wednesday afternoon, aided by a rally in tech and financial heavyweights. The Sensex ended 85 points up to 39,215.64.

Sensex, Sensex today, Sensex share, Sensex news, Tata Steel, NTPC , Bajaj Auto, HDFC Bank, Axis Bank, Hero MotoCorp, PowerGrid, Tata Motors, SBI, Yes Bank, Bharti Airtel, Maruti, HCL Tech, HUL, RILYes Bank, ONGC shares emerged among the biggest losers, shedding upto 6%.

Share market highlights: The headline indices Sensex and Nifty closed higher on Wednesday afternoon, aided by a rally in tech and financial heavyweights. The Sensex ended 85 points up to 39,215.64, while the Nifty closed below the 11,700-mark. Yes Bank, ONGC shares emerged among the biggest losers, shedding upto 6%. Tech Mahindra, SBI were among the biggest gainers, jumping more than 1% each. Asian shares drifted lower on Wednesday after a lacklustre performance by Wall Street, while the dollar got a lift from robust US retail data and a Brexit-driven dive in the pound. Oil prices also took a spill on hints US tensions with Iran could be easing and as data showed stockpiles fell by less than expected last week. Early action was muted with MSCI’s broadest index of Asia-Pacific shares outside Japan off 0.18 per cent. Japan’s Nikkei eased 0.3 per cent and South Korea 0.8 per cent. E-Mini futures for the S&P 500 were flat, Reuters reported. 

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    15:49 (IST)17 Jul 2019
    BSE live: Sensex ends 85 points up, Nifty near 11,700; Maruti Suzuki, Yes Bank among top losers

    The headline indices Sensex and Nifty closed higher on Wednesday afternoon, aided by a rally in tech and financial heavyweights. The Sensex ended 85 points up to 39,215.64, while the Nifty closed below the 11,700-mark. Yes Bank, ONGC shares emerged among the biggest losers, shedding upto 6%. Tech Mahindra, SBI were among the biggest gainers, jumping more than 1% each. A look at LIVE Sensex heatmap.

    15:09 (IST)17 Jul 2019
    US-China trade war an opportunity to help double India’s exports

    Trade tensions between the US and China have the potential to open a brand new window for India. Sports goods, toys, cables, stationery, and electronic goods are some of the areas, from where the American importers are reaching out to India. Indian exporters are getting a lot of queries from American buyers about substituting for the goods supplied by China so far, Federation of Indian Export Organisations (FIEO) president Sharad Kumar Saraf said to Financial Express Online. He also added that the process of shift from a small sector has already started two to three years back. Increased manufacturing cost in China has also added to the buyers looking at the Indian market, Saraf added.

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    14:17 (IST)17 Jul 2019
    Bimal Jalan panel report on RBI surplus finalised, to be submitted soon; here’s what is expected

    Bimal Jalan panel, which is looking into the size of capital reserve that the Reserve Bank of India (RBI) holds, has finalised the report on Economic Capital Framework (ECF), PTI reported citing unidentified sources. The final report would be submitted in the coming 10-15 days. The six-member committee report is not expected to be unanimous, CNBC TV18 reported after the meeting concluded. The RBI surplus reserves would be transferred to government in tranches in 3-5 years, it said, adding the periodic reviews of ECF would follow after each cycle.

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    13:19 (IST)17 Jul 2019
    Trade deficit may have shrunk in Q1 FY20, but India must watch for these factors going ahead

    Even as the trade deficit narrowed in the last month, the economy needs to be watchful going ahead, analysts said. Currency movement, crude prices and trade wars are few of the factors that may impact India’s trade deficit in the coming months, they added. The trade deficit lowered to $15.28 billion in June from $16.6 billion in June 2018, the government data released on Monday showed. While exports declined by 9.71 per cent to $25.01 billion, imports too fell by 9 per cent to $40.29 billion in June 2019, the data showed.

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    12:46 (IST)17 Jul 2019
    Federal Bank’s Apr-Jun profit grows 46% YoY; Should you buy or sell stock?

    The shares of Federal Bank are trading lower on Wednesday after it reported 46.25% growth in its Apr-Jun profits on a yearly basis. At 12:01 PM, the Federal Bank shares were last seen trading at Rs 104.30 per share, nearly 3 per cent down from the last close of Rs 107.35 per share on BSE. The private lender’s standalone profit stood at Rs 384.21 crore compared with Rs 262.71 crore in the same quarter of last year. The total income of the bank rose to Rs 3,620.82 crore during Apr-Jun of 2019-20, as compared to Rs 2,938.24 crore in the corresponding period of 2018-19. Keeping in view the bank’s impressive quarterly results both the analysts Financial Express Online spoke to have maintained BUY on the Federal Bank’s stock.   

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    12:19 (IST)17 Jul 2019
    HDFC AMC shares hit fresh record high after strong Q1 results; should you buy or sell stock?

    Shares of India’s largest asset management firm HDFC AMC surged to fresh record high on Wednesday morning, after the firm reported robust earnings for the April-June quarter. HDFC Asset Management Company shares zoomed more than 6% intra-day to hit an all-time high of Rs 2,127.85. HDFC AMC has reported a 42% rise on-year rise in net proft to Rs 291.79 crore as against Rs 205.26 in the same quarter of the previous year, the company said in a regulatory filing. The total income surged to Rs 552.75 crore as against Rs 501.19 crore in the corresponding period of the previous financial year. Notably, the AUM surged 18% to Rs 3,56,700 crore.

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    12:03 (IST)17 Jul 2019
    DCB Bank shares hit week’s low after its Q1FY20 earnings fell QoQ; Should you buy or sell stock?

    After DCB Bank reported Apr-Jun results on Tuesday, the stocks of private lender bank fell significantly in the early trade on Wednesday. At 10:25 AM on BSE, the DCB stock was seen trading at Rs 212.20 per share, down 11 per cent from the last close.  While the bank’s Apr-Jun profits after tax for the current fiscal rose 17 per cent year-on-year, the earnings plunged by 16 per cent on a quarterly basis on account of muted revenue growth and high provisioning owing to elevated slippages, according to ICICI Securities. The brokerage firm has downgraded the stock to ADD from BUY with the target price unchanged at Rs 265 per share in view of the recent run-up in stock price and near term challenges on asset quality. 

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    11:16 (IST)17 Jul 2019
    BSE LIVE: Sensex extends gains, Nifty above 11,700; Kotak Mahinda, HCL Tech shares rally

    After opening higher, the headline indices Sensex and Nifty extended gains in the morning trade on Wednesday, tracking global cues. The Sensex is up 135 points to 39,266.65, while the Nifty is trading above the 11,700-mark. Kotak Mahindra Bank shares are trading 2.40% higher at Rs 1,538.40, while Tech Mahindra shares are up 1.65% to Rs 686.85. Yes Bank,  ONGC shares are among the biggest losers, shedding more than 1% each. A look at LIVE Sensex heatmap.

    10:58 (IST)17 Jul 2019
    HDFC Bank opens credit card window for cash-starved rural entrepreneurs

    Private sector lender HDFC Bank has been enhancing its engagement with entrepreneurs in startups and small businesses over the past few months. After partnering with the Bombay Stock Exchange in helping startups list on its BSE Startups platform in April this year followed by backing 25 social sector startups through grants as part of its corporate social responsibility programme, HDFC Bank today launched a co-branded credit card in partnership with the government’s Common Service Centre. Small Business MoneyBack credit card would offer ‘easy credit access’ to CSC’s rural or village level entrepreneurs to manage their day-to-day business expenses, HDFC bank said in a statement. 

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    10:25 (IST)17 Jul 2019
    Confidence of CEOs in India over global economy falls this year: KPMG

    The confidence of CEOs in India over the prospects of global economy fell significantly to 53 per cent in 2019, as against 89 per cent in the previous year, according to a KPMG report. Consultancy firm KPMG India’s fifth annual CEO outlook report is based on the views received from 125 CEOs in the country, on their highest priority, opportunities and challenges. The CEOs in India have to understand and cope with an increasingly unpredictable and fast-changing array of risks, as per the report. They have identified climate change (23 per cent), return to territorialism (17 per cent) and emerging/disruptive technology risk (17 per cent) as the top three threats to their organisation’s growth for a second year in a row, it added.

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    09:53 (IST)17 Jul 2019
    Trade war impact: Singapore exports plunge more than forecast

    Singapore’s exports plummeted in June amid a worsening trade war, spelling more bad news for the city state’s economy. Non-oil domestic exports contracted 17.3% from a year ago after falling a revised 16.3% in May, Enterprise Singapore said in a statement on Wednesday. That was worse than the median estimate of a 9.6% decline in a Bloomberg survey of economists. The trade-reliant economy took a sharp downturn in the second quarter, prompting analysts to downgrade growth forecasts for this year and predict a possible recession. Exports have been weakening since last year as a technology boom waned, but the outlook worsened considerably in 2019 amid a U.S.-China trade war, which is weighing on China’s economy.

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    09:25 (IST)17 Jul 2019
    BSE live: Sensex up 50 points, Nifty above 11,650; Yes Bank, VEDL top gainers

    The headline indices Sensex and Nifty are trading marginally higher on Wednesday morning, tracking global cues. The Sensex is  up 35 points to 39,166.65, while the Nifty is trading above the 11,650-mark. Yes Bank shares are trading 1.8% higher at Rs 105, while VEDL shares are up about 1% to Rs 168.50. Tata Motors, Sun Pharma shares are among the biggest losers, shedding more than 1% each. A look at LIVE Sensex heatmap.

    08:53 (IST)17 Jul 2019
    Global markets: Asia shares slip, dollar gains as sterling slides

    Asian shares drifted lower on Wednesday after a lacklustre performance by Wall Street, while the dollar got a lift from robust U.S. retail data and a Brexit-driven dive in the pound. Oil prices also took a spill on hints U.S. tensions with Iran could be easing and as data showed stockpiles fell by less than expected last week. Early action was muted with MSCI’s broadest index of Asia-Pacific shares outside Japan off 0.18%. Japan’s Nikkei eased 0.3% and South Korea 0.8%. E-Mini futures for the S&P 500 were flat. A surprisingly strong reading on U.S. retail sales released overnight had outweighed weakness in industrial production for the June quarter and boosted the dollar. Yet, it barely budged market wagers on a Federal Reserve rate cut this month, with Chicago Fed President Charles Evans touting 50 basis points of easing. Futures are 100% priced for a cut of 25 basis points, and imply a 27% chance of 50 basis points.

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    08:38 (IST)17 Jul 2019
    Oil prices steady after falling to more than one-week lows

    Oil steadied after falling more than 3% overnight, with U.S. crude trailing Brent after U.S. inventory data fell short of expectations, amid conflicting signals from the U.S. and Iran over the disputes that have roiled prices recently. Brent crude futures were up 16 cents at $64.51, or 0.3% by 0027 GMT. They ended 3.2% down the previous session, after falling to the lowest since July 5. West Texas Intermediate crude futures were up 1 cent at $57.63. They fell 3.3% on Wednesday, having fallen to the lowest since July 9. Iran denied it was willing to negotiate over its ballistic missile program, contradicting a claim by U.S. Secretary of State Mike Pompeo, and appearing to undercut Trump’s statement that Washington had made progress on its disputes with Tehran.

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    08:37 (IST)17 Jul 2019
    Gold inches down as strong US retail sales lift dollar

    Gold prices edged lower on Wednesday, but still held above the pyschological $1,400 level, as the dollar gained after robust U.S. retail sales tempered fears of a sharp downturn in the world’s largest economy. Spot gold was down 0.1% at $1,405.26 per ounce, as of 0104 GMT. U.S. gold futures slipped 0.3% to $1,406.90 an ounce. The Commerce Department said retail sales rose 0.4% last month as households stepped up purchases of motor vehicles and a variety of other goods. Economists polled by Reuters had forecast retail sales edging up 0.1% in June.

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    08:36 (IST)17 Jul 2019
    Donald Trump says he could impose more China tariffs

    President Donald Trump reiterated that he could impose additional tariffs on Chinese imports if he wants, after promising to hold off on more duties in a trade-war truce he reached with China’s Xi Jinping last month. “We have a long way to go as far as tariffs where China is concerned, if we want. We have another $325 billion we can put a tariff on, if we want,” Trump said. “So, we’re talking to China about a deal, but I wish they didn’t break the deal that we had.” Trump and Xi called a tariff ceasefire and agreed to resume trade talks after meeting at the Group-of-20 summit in Japan in late-June, breaking a six-week stalemate. The U.S. president said he’d hold off on a threat to impose tariffs on an additional $300 billion in Chinese imports, and that Xi had agreed to buy large amounts of U.S. farm goods in exchange.

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