Share market highlights: Sensex ends 330 points higher, Nifty near 11,950; NTPC, Bharti Airtel top gainers

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Updated:May 30, 2019 3:42:18 pm

Share Market highlights: After opening higher, the Sensex and Nifty extended gains in the afternoon trade on Thursday. The Sensex ended 330 points higher at 39,831.92, while the Nifty closed near the 11,950-mark.

share market news, share market, share market live, market liveSensex, NSE Nifty Today Updates: Bajaj Auto, Powergrid shares have emerged among the biggest gainers, jumping up to 1.5%.

Share market highlights: After opening higher, the Sensex and Nifty extended gains in the afternoon trade on Thursday. The Sensex ended 330 points higher at 39,831.92, while the Nifty closed near the 11,950-mark. NTPC, Bharti Airtel shares were the biggest Sensex gainers jumping more than 3% each. Sun Pharma, M&M shares were among the biggest losers in the 30-share index. 

Asian stocks tracked Wall Street losses on Thursday as rhetoric from Beijing and Washington over trade matters kept alive investor concerns about the tariff war’s impact on global economic growth, Reuters reported. The risk aversion propped up global safe-haven assets such as government bonds, with yields on German benchmark debt approaching record lows, said the report. We bring to you LIVE updates.

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Highlights

    15:42 (IST)30 May 2019
    BSE live: Sensex ends 330 points higher, Nifty near 11,950; NTPC, Bharti Airtel top gainers

    After opening higher, the Sensex and Nifty extended gains in the afternoon trade on Thursday. The Sensex ended 330 points higher at 39,831.92, while the Nifty closed near the 11,950-mark. NTPC, Bharti Airtel shares were the biggest Sensex gainers jumping more than 3% each. Sun Pharma, M&M shares were among the biggest losers in the 30-share index. A look at LIVE Sensex heatmap.

    14:46 (IST)30 May 2019
    Beer startup Bira 91 raises pre-Series C funding from Sixth Sense Ventures; valuation hits $246 million

    Popular craft beer maker Bira 91 is raising $4.3 million from Mumbai-based consumer-focused venture capital fund Sixth Sense Ventures. The funding raising in a pre-Series C round is a bridge round to its Series C round that the company is looking to raise. The company has labelled the securities as pre-Series C preference shares, showed regulatory filings sourced by business signals platform Paper.vc. “This is an unusual nomenclature that suggests that Bira 91 is looking to secure a larger Series C round at a suitable valuation,” Vivek Durai, Founder, Paper.vc told Financial Express Online.

    Also read: Beer startup Bira 91 raises pre-Series C funding from Sixth Sense Ventures; valuation hits $246 million

    14:07 (IST)30 May 2019
    Investment in P-notes rises to Rs 81,220 cr till April end

    Investments in the domestic capital market through participatory notes, led by equity allocation, rose to Rs 81,220 crore at the end of April on hopes of favourable market conditions. Participatory notes (P-notes) are issued by registered foreign portfolio investors (FPIs) to overseas investors who wish to be a part of the Indian stock market without registering themselves directly after going through a due diligence process. The total value of P-note investment in domestic capital markets — equity, debt and derivatives — stood at Rs 81,220 crore till April-end, latest Sebi data showed. Out of the total investments made till April-end, Rs 58,820 crore was invested in the equities segment, Rs 21,542 crore in debt and Rs 123 crore in derivatives market.

    Also read: Investment in P-notes rises to Rs 81,220 cr till April end

    13:58 (IST)30 May 2019
    Little to cheer for PSU banks in July Budget; no govt recapitalisation till December

    The new government is not likely to announce bank recapitalisation in the July budget and will wait for the second quarter results to infuse capital into the public sector banks, Finance Ministry officials told Financial Express Online. The previous government has already completed the mega-bank recapitalisation of Rs 2.11 trillion, which it had announced in October 2017. “There is no need to inject capital in banks in the July budget. We expect three to four banks to come out of PCA this year. We will assess the second quarter results of PSBs, and then if required we will recapitalise the banks accordingly by year-end,” a Finance Ministry official told Financial Express Online requesting anonymity.

    Also read: Little to cheer for PSU banks in July Budget; no govt recapitalisation till December

    13:02 (IST)30 May 2019
    E-commerce success: After mobile phones, clothes, now online medicine market to grow multifold

    Indian e-pharma players will be the next beneficiaries of e-commerce popularity as they are poised to grow multifold over the next few years to attain a market size of $2.7 billion by 2023, says a report. Currently pegged at $360 million, the industry is rising at a CAGR of above 18%. The factors driving e-pharma business are smartphone ownership and the increasing internet access across India, a report by EY said. Several other reasons have also contributed to this. While there has been a rise in chronic diseases, per capita income levels have also spiked. Also, the ease of ordering online has made e-commerce platforms popular. The same worked in favour of medication business as well.

    Also read: E-commerce success: After mobile phones, clothes, now online medicine market to grow multifold

    12:55 (IST)30 May 2019
    BSE live: Sensex up 300 points, Nifty near 11,950; NTPC, Yes Bank top gainers

    After opening higher, the Sensex and Nifty extended gains in the morning trade on Thursday. The Sensex is up about 320 points to 39,820.98, while the Nifty is trading above the 11,900-mark. NTPC Bharti Airtel shares have emerged among the biggest gainers, jumping up to 3%. A look at LIVE Sensex heatmap.

    12:25 (IST)30 May 2019
    Anil Ambani’s BIG FM is music to the ears of Radio City; key benefits for Music Broadcast from deal

    After Anil Ambani led Reliance Broadcast Network’s deal with Music Broadcast to sell BIG FM radio channel, analysts say that the deal is attractively valued for the Jagran Prakashan group firm. Notably, Reliance Broadcast Network is selling an initial 24% stake to Jagran Prakashan group’s Music Broadcast in an all cash deal for Rs 202 crore. Further, after receiving requisite regulatory approvals, further investment of Rs 348 crore will be made by Jagran Prakashan to pick up remaining promoter stake by the end of first quarter of FY21.  The acquisition is being done at an enterprise value of Rs 1,050 crore.

    Also read: Anil Ambani’s BIG FM is music to the ears of Radio City; key benefits for Music Broadcast from deal

    10:39 (IST)30 May 2019
    BSE live: Sensex extends gains, Nifty above 11,900; NTPC, Yes Bank top gainers

    After opening higher, the Sensex and Nifty extended gains in the morning trade on Thursday. The Sensex is up about 201 points to 39,703.68, while the Nifty is trading above the 11,900-mark. NTPC< Bharti Airtel shares have emerged among the biggest gainers, jumping up to 2%. A look at live Sensex heatmap.

    10:19 (IST)30 May 2019
    Dollar hovers close to 2-year peak on trade-war, growth worries

    The dollar held steady against its key rivals on Thursday as escalating Sino-U.S. trade tensions forced investors to take shelter in safe-haven assets, including government bonds. As the standoff between the world’s two biggest economies showed no signs of being resolved, fears of a hit to global growth has rippled through financial markets in recent sessions, with riskier assets in particular bearing the brunt of those concerns. Against a basket of six major currencies, the dollar inched 0.03% lower to 98.113, hovering within reach of a two-year high of 98.371 reached a week ago. The index is up more than 2% for the year.

    Also read: Dollar hovers close to 2-year peak on trade-war, growth worries

    10:18 (IST)30 May 2019
    Dollar hovers close to 2-year peak on trade-war, growth worries

    The dollar held steady against its key rivals on Thursday as escalating Sino-U.S. trade tensions forced investors to take shelter in safe-haven assets, including government bonds. As the standoff between the world’s two biggest economies showed no signs of being resolved, fears of a hit to global growth has rippled through financial markets in recent sessions, with riskier assets in particular bearing the brunt of those concerns. Against a basket of six major currencies, the dollar inched 0.03% lower to 98.113, hovering within reach of a two-year high of 98.371 reached a week ago. The index is up more than 2% for the year.

    Also read: Dollar hovers close to 2-year peak on trade-war, growth worries

    09:25 (IST)30 May 2019
    BSE live: Sensex up 80 points, Nifty above 11,850; Bajaj Auto, Powergrid top gainers

    The Sensex and Nifty are opened marginally higher on Thursday morning, tracking global cues. The Sensex is up about 92 points to 39,594.20, while the Nifty is trading above the 11,850-mark. Bajaj Auto, Powergrid shares have emerged among the biggest gainers, jumping up to 1.5%.  A look at live Sensex heatmap.

    08:58 (IST)30 May 2019
    Recap: ICICI Bank, RIL, SBI drag Sensex to end 248 points lower, Nifty closes below 11,900; key points

    The leading benchmark indices Sensex and Nifty snapped a 3-day winning streak on Wednesday, even as bluechip heavyweights including SBI, ICICI Bank and Tata Steel dragged the index to give up their closing highs from Tuesday. The Sensex ended the session 248 points down at 39,502.05, while the Nifty closed below the 11,900-mark, led by losses in banking, metal and auto stocks amid weak cues from global markets. Yesterday, the Sensex closed 66 points higher at 39,749.73, while the Nifty closed 4 points higher at 11,928.75, registering their highest ever close. Notably, the Sensex and Nifty had been on a rising spree ever since the Narendra Modi-led NDA stormed to victory in the Lok Sabha polls. 

    Also read: ICICI Bank, RIL, SBI drag Sensex to end 248 points lower, Nifty closes below 11,900; key points

    08:57 (IST)30 May 2019
    Asia stocks sag, bonds rally as trade war fears persist

    Asian stocks tracked Wall Street losses on Thursday as rhetoric from Beijing and Washington over trade matters kept alive investor concerns about the tariff war’s impact on global economic growth. The risk aversion propped up global safe-haven assets such as government bonds, with yields on German benchmark debt approaching record lows. The dispute between the world’s two largest economies showed few signs of abating, with Chinese newspapers reporting that Beijing could use rare earths to strike back at Washington after U.S. President Donald Trump remarked he was “not yet ready” to make a deal with China over trade.

    Also read: Asia stocks sag, bonds rally as trade war fears persist

    08:56 (IST)30 May 2019
    Gold steady as strong dollar offsets support from global growth woes

    Gold prices were steady on Thursday as the dollar hovered near a two-year high, impeding the support from an exacerbated Sino-U.S. trade war bringing back doubts about global economic growth.  Spot gold was broadly unchanged at $1,278.77 per ounce, as of 0110 GMT.  U.S. gold futures edged 0.1% lower to $1,279.30 an ounce.

    Also read: Gold steady as strong dollar offsets support from global growth woes

    08:55 (IST)30 May 2019
    US fears Huawei will pass information to Chinese govt, says Mike Pompeo

    The Trump administration is opposing Huawei as it fears the State-controlled telecom giant will pass on information to the Chinese government of which it is an “instrument” and deeply connected with, US Secretary of State Mike Pompeo has said. Escalating the bruising trade war with China, the US Department of Commerce recently blacklisted Huawei over security concerns and barred American companies from installing its telecom equipment. Earlier in the week, US President Donald Trump said there was a possibility of including the Huawei issue in the ongoing trade negotiations with China.

    Also read: US fears Huawei will pass information to Chinese govt, says Mike Pompeo

    08:55 (IST)30 May 2019
    UK opposition calls for election or second referendum on Brexit deal

    The leader of Britain’s main opposition Labour party Jeremy Corbyn – criticised for failing to take a clear position on Brexit – has said the only way out of the political crisis was to hold a general election or a second “public vote on any deal agreed by parliament”. Labour has come under fire for sitting on the fence over Brexit and it remains unclear whether the party would back Leave or Remain in the next general election. The party’s approach to Brexit — dubbed “constructive ambiguity” — saw them get hammered at the ballot box during EU elections last week, losing half of their 20 seats in the European Parliament and finishing in third place behind the staunchly anti-Brexit Lib Dems and the newly-formed Brexit Party. 

    Also read: UK opposition calls for election or second referendum on Brexit deal

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