Share market Highlights: Sensex closes 269 points up, Nifty above 11,400; Kotak Mahindra Bank, Powergrid top gainers

By: |
Updated:Mar 15, 2019 3:45:40 pm

Share market highlights: The stock markets- extended rally on Friday led by strong gains in private bank stocks. The Sensex closed 269 points up at 38,024, while Nifty is ended above the 11,400-mark.

Stock Market, Share Market Live, Stock Market Live, Nifty Live, NSE live, BSE live, Live Market Update, Market Today, Indian Share Market Live, Indian Stock Market LiveStock Market Highlights: IT major TCS shares closed the session 2.4% higher at Rs 2,036.15. 

Share market highlights: The stock markets- extended rally on Friday led by strong gains in private bank stocks. The Sensex closed 269 points up at 38,024, while Nifty is ended above the 11,400-mark. Kotak Mahindra Bank shares closed 4.4% higher at Rs 1,327.10, while Powergrid shares ended 2.6% higher at Rs 192.40. IT major TCS shares closed the session 2.4% higher at Rs 2,036.15. 

Asian stocks made modest gains on Friday, tracking improved global sentiment after UK lawmakers voted to delay Brexit and as a weaker yen supported Japanese shares, but a fresh flare up in US-China trade concerns is expected to cap gains. MSCI broadest index of Asia-Pacific shares outside Japan inched up 0.06 percent, Reuters reported.

The S&P 500 slipped on Thursday, snapping a three-day streak of gains, as uncertainty over when a trade deal between the United States and China would be reached left investors on edge, said the Reuters report. We bring to live updates.

Read More

Live Blog

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

Highlights

    15:42 (IST)15 Mar 2019
    BSE live: Sensex closes 269 points up, Nifty above 11,400; Kotak Mahindra Bank, Powergrid top gainers

    The stock markets- extended rally on Friday led by strong gains in private bank stocks. The Sensex closed 269 points up at 38,024, while Nifty is ended above the 11,400-mark. Kotak Mahindra Bank shares closed 4.4% higher at Rs 1,327.10, while Powergrid shares ended 2.6% higher at Rs 192.40. IT major TCS shares closed the session 2.4% higher at Rs 2,036.15. A look at LIVE Sensex heatmap.

    14:53 (IST)15 Mar 2019
    Expert take: FII buying, pre-poll optimism propel Sensex, Nifty

    'The BSE-30 Index gained by 1,404 points (3.8%) in the past week. Rally in the Indian markets was led by strong FII buying on account of reduction in geopolitical risks and opinion polls suggested a likely return of the NDA government in general election 2019 were announced. Bharti Airtel ( 11%), IndusInd Bank ( 10%) and Yes Bank ( 8%) were the top gainers, while Tata Motors (-5%), Wipro (-4%) and Infosys (-3%) lost the most in the BSE-30 Index. On the economy front, CPI inflation hardened to 2.57% in February as against a downward revised print of 1.97% in January while WPI inflation firmed to 2.93% as against 2.8% in January,' Sanjeev Zarbade, Vice President- PCG Research, Kotak Securities said. 

    14:45 (IST)15 Mar 2019
    BSE live: Sensex up 440 points, Nifty above 11,450; Kotak Mahindra Bank, TCS shares rally

    The stock market continued their robust rally, with the Sensex and Nifty extending gains in the afternoon trade on Friday. The Sensex is up 441 points to 38,196, while Nifty is trading firmly above the 11,450-mark. Private sector banks are surging in trade with Kotak Mahindra Bank up 5% to Rs 1,330.60, followed by ICICI Bank shares trading 2.5% higher at Rs 396.80. IT major TCS shares are trading 2.6% higher at Rs 2,053.

    14:13 (IST)15 Mar 2019
    Women climbing up the ladder in hospitality industry with high emotional intelligence

    Women and their professional careers have been extensively discussed all across the globe. Fortunately, the intention of these discussions is to identify the current gender gap across levels and how everyone at an organization can come together to reduce the gap. For starters, it is important to accept that there has been a positive change and organizations now value a woman’s presence in leadership. Women in leadership have showcased that their influence has led to greater motivation and better results along with promoting work-family balance.

    Also read: Women climbing up the ladder in hospitality industry with high emotional intelligence

    13:04 (IST)15 Mar 2019
    Auto-market forecast: Stumbling sales pose challenges, but recovery possible

    Auto industry in India continues to post sluggish growth with a fall in sales of about 2.6 per cent in February 2019 on the back of continued weak consumer sentiment and increased cost of ownership, said a report. However, good monsoon, increased agriculture activities, lower interest rates and increased infrastructure and industrial activities have the potential to help the automobile industry to overcome the hurdles, CARE Ratings said in the report. The automobile sector has emerged as one of the important sectors of the Indian economy, accounting for 7 per cent of India’s GDP and 45 per cent of manufacturing GDP, and employs about 19 million people both directly and indirectly.

    Also read: Auto-market forecast: Stumbling sales pose challenges, but recovery possible

    12:44 (IST)15 Mar 2019
    Mutual funds lap up oil & gas stocks; check top picks from Motial Oswal

    Mutual Funds holding in oil and gas sector stocks has reached an all time high at 7.8 percent, 20 basis points up from the previous month. The sector is now at the fifth position from its seventh  position an year ago, as per the report of Motilal Oswal. According to the brokerage house Motilal Oswal, these are the five attractive oil and gas stocks to pick: ONGC : Buy call has been retained on state-owned ONGC stock with a target price  of Rs 182. Its current market price is Rs 150. Return on Equity on ONGC for FY 19 and FY 20 is Rs 16.1 and Rs 16.4 respectively. Reliance Industries:Buy position on RIL with a target price of Rs 1,426. The current market price of RIL is Rs 1,347. Return on Equity as per the report on RIL is 12.4 and 12.6 for FY 19 and FY 20 respectively.

    12:31 (IST)15 Mar 2019
    Tata retains top spot, Jio propels RIL to 2nd rank, ADAG exits; these retail giants enter top brands list

    Tata and Reliance-led by a robust performance from TCS and Jio respectively are the top two most valuable brands of 2019 followed by Airtel at the third spot, Interbrand’s latest ranking of India’s top 40 brands showed. The companies that made exit this year are Anil Ambani’s Reliance Group  (R-ADAG) and Canara Bank. The list, which previously was dominated by the automotive, diversified businesses and financial services sectors, sees retail companies making their presence felt in its sixth edition. Interband had released its last list of top Indian brands in November 2017.

    Also read: Tata retains top spot, Jio propels RIL to 2nd rank, ADAG exits; these retail giants enter top brands list

    12:10 (IST)15 Mar 2019
    BSE live: Sensex reclaims 38,000, Nifty above 11,400; Kotak Mahindra Bank, SBI shares jump

    After opened marginally higher on Friday morning, the Sensex and Nifty extended gains in the afternoon trade led by rally in bank shares. The Sensex has reclaimed the crucial 38,000-mark, while Nifty is trading firmly above the 11,400-mark. Bank shares are trading higher on the exchanges, with private sector lender Kotak Mahindra Bank leading the rally. Kotak Mahindra Bank shares gained nearly 5% to hit the day's high at Rs 1,331. SBI shares are trading 2% higher at Rs 296.85, while IndusInd Bank shares zoomed 1.5% to Rs 1,709. A look at LIVE Sensex heatmmap.

    12:02 (IST)15 Mar 2019
    Bank shares rally: Private banks ICICI Bank, Axis Bank, HDFC Bank hit fresh 52-week high

    Bank shares are trading higher on the exchanges, with private sector lender Kotak Mahindra Bank leading the rally. Kotak Mahindra Bank shares gained nearly 5% to hit the day's high at Rs 1,331. SBI shares are trading 2% higher at Rs 296.85, while IndusInd Bank shares zoomed 1.5% to Rs 1,709. HDFC Bank shares gained nearly 1% in the morning, to hit Rs 1,980.60. The rally in the shares are propelling Bank Nifty higher as the index is up more than 362 points to 28,990.95.  ICICI Bank, Axis Bank, HDFC Bank have hit a fresh 52-week high.

    11:11 (IST)15 Mar 2019
    RIL-Brookfield deal: Mukesh Ambani firm to sell East-West Pipeline for Rs 13,000 crore; key things to know

    Billionaire Mukesh Ambani led Reliance Industries will sell its East-West Pipeline to Brookfield for Rs 13,000 crore. As part of the deal, Brookfield sponsored InvIT will acquire 100% equity interest in Pipeline Infrastructure Private Limited (PIPL), which owns and operates the pipeline. “Brookfield has filed the preliminary placement memorandum, in terms of which India Infrastructure Trust, an InvIT set up by Brookfield as Sponsor and 90% investor, will invest Rs. 13,000 crore to acquire the East West Pipeline,” Reliance Industries said in a press release.  

    Also read: RIL-Brookfield deal: Mukesh Ambani firm to sell East-West Pipeline for Rs 13,000 crore; key things to know

    10:32 (IST)15 Mar 2019
    Modi govt’s statistical jugglery hurt India’s global reputation: Congress

    Nobody has hurt India’s global reputation and credibility more than the Modi government, the Congress alleged on Friday after over 100 economists and social scientists expressed concerns over “political interference” in statistical data in the country. As many as 108 economists and social scientists Thursday called for restoration of “institutional independence” and integrity of statistical organisations.

    Also read: Modi govt’s statistical jugglery hurt India’s global reputation: Congress

    10:14 (IST)15 Mar 2019
    Rupee appreciates 20 paise to 69.14 versus USD in early trade

    The rupee appreciated by 20 paise to 69.14 against the US dollar in opening trade Friday, driven by sustained foreign fund inflows and higher opening of domestic equities. The rupee opened at 69.28 at the interbank forex market, then gained further ground and touched 69.14, displaying gains of 20 paise over its last close. The rupee on Thursday had strengthened by 20 paise to close at 69.34 against the US dollar. Forex dealers said, selling of the American currency by exporters and positive opening in domestic equities supported the rupee.

    Also read: Rupee appreciates 20 paise to 69.14 versus USD in early trade

    09:26 (IST)15 Mar 2019
    BSE live: Sensex up 200 points, Nifty nears 11,400; Kotak Mahindra, IndusInd Bank shares gain

    The Stock markets-- Sensex and Nifty-- opened marginally higher on Friday morning, tracking mixed global cues. The Sensex is up 200 points to 37,955.99, while the Nifty is trading above the 11,400-mark. Kotak Mahindra Bank shares are trading 2% higher at Rs 1,293 on BSE, while IndusInd Bank shares jumped more than 1.6% to Rs 1,710.30.  A look at LIVE Sensex heatmap.

    09:01 (IST)15 Mar 2019
    HUL chairman Sanjiv Mehta moves up corporate ladder; elevated to Unilever South Asia President

    Unilever on Thursday announced the elevation of Hindustan Unilever chairman and managing director Sanjiv Mehta as president of Unilever, South Asia. He will also be a member of the Unilever Leadership Executive (ULE). The change is effective from May 1, 2019. Sanjiv will continue as CMD of HUL. Welcoming Mehta’s elevation, Alan Jope, CEO of Unilever, said, “Sanjiv has been one of our most impressive general managers with a consistent track record of growth and execution in high growth and emerging markets. 

    Also read: HUL chairman Sanjiv Mehta moves up corporate ladder; elevated to Unilever South Asia President

    09:01 (IST)15 Mar 2019
    RBI tells SC no corporate debt resolution plan yet despite 180-day extension for defaulters

    Defending its controversial February 12 circular, the RBI on Thursday brought to the Supreme Court’s notice that none of the petitioners (corporate defaulters) from a variety of industries like power, shipping and sugar could come up with any resolution plan that could be considered by banks. “It is apparent that they don’t have any resolution plans,” the RBI said, referring to the leeway that was available to the firms under the court’s September 2018 order asking the lenders not to act till further orders.

    Also read: RBI tells SC no corporate debt resolution plan yet despite 180-day extension for defaulters

    08:51 (IST)15 Mar 2019
    Ranbaxy-Daiichi case: SC invokes ‘country’s honour’, asks Malvinder, Shivinder how will they pay Rs 3,500 crore to Daiichi

    Coming down heavily on the Singh brothers — Malvinder and Shivinder — the Supreme Court on Thursday asked them to apprise it how they propose to comply with the Rs 3,500-crore arbitral award passed against them by a Singapore tribunal in favour of Japanese drug major Daiichi Sankyo. A bench headed by Chief Justice Ranjan Gogoi asked the brothers, who were present in the court as per its earlier the direction, to consult their financial and legal advisors and give a concrete plan on how they will comply with the tribunal’s order. The apex court asked the brothers to appear before it on March 28 and submit the plan, saying “hopefully, it will be the last time you are appearing in the court”.

    Also read: Ranbaxy-Daiichi case: SC invokes ‘country’s honour’, asks Malvinder, Shivinder how will they pay Rs 3,500 crore to Daiichi

    08:51 (IST)15 Mar 2019
    Ray of hope for Ruias in Essar Steel bankruptcy; NCLAT says will make room if they pay dues

    The National Company Law Appellate Tribunal (NCLAT) on Thursday directed promoters of Essar Steel to pay their dues, as per the orders of the Supreme Court, saying it would then “make room for” them. The Ruias owe lenders an estimated Rs 80,000-85,000 crore at the group level, their counsel told the NCLAT bench. The Ruias had made an offer to pay Rs 54,389 crore but their offer came after the creditors had approved ArcelorMittal’s resolution proposal.

    Also read: Ray of hope for Ruias in Essar Steel bankruptcy; NCLAT says will make room if they pay dues

    08:45 (IST)15 Mar 2019
    Oil prices stable, supported by signs of emerging supply deficit

    Oil prices were steady on Friday, supported as production cuts led by OPEC and U.S. sanctions against Venezuela and Iran likely created a slight deficit in global supply in the first quarter of 2019. But oil prices have been capped by concerns that an economic slowdown will soon start denting growth in fuel demand. Brent crude oil futures were at $67.15 per barrel at 0126 GMT, 8 cents below their last close, but still within a dollar of the $68.14 2019-high reached the previous day.

    Also read: Oil prices stable, supported by signs of emerging supply deficit

    08:44 (IST)15 Mar 2019
    Gold extends losses as equities rise on Brexit delay

    Gold prices edged down on Friday after slipping below the key $1,300 level in the previous session, pressured by improving appetite for risk as British lawmakers voted to seek a delay to the country’s exit from the European Union. Spot gold was down 0.1 percent at $1,295.29 per ounce by 0130 GMT, extending a 1-percent decline from the day before. U.S. gold futures were flat at $1,295.20 an ounce. The dollar was steady against major currencies, after rising for the first time in five sessions on Thursday.

    Also read: Gold extends losses as equities rise on Brexit delay

    08:43 (IST)15 Mar 2019
    Asian stocks higher on Brexit reprieve but trade concerns limit gains

    Asian stocks made modest gains on Friday, tracking improved global sentiment after UK lawmakers voted to delay Brexit and as a weaker yen supported Japanese shares, but a fresh flare up in U.S.-China trade concerns is expected to cap gains. MSCI broadest index of Asia-Pacific shares outside Japan inched up 0.06 percent. Japan’s Nikkei climbed 0.9 percent and South Korea’s KOSPI rose 0.45 percent. Global markets drew some relief overnight with European stocks rising to a five-month high, boosted by strength in the banking sector after Britain’s parliament voted to reject a disorderly Brexit.

    Also read: Asian stocks higher on Brexit reprieve but trade concerns limit gains

    Share market on Thursday: After three consecutive days of robust rally, Sensex and Nifty took a breather on Thursday. The Sensex closed 3 points higher at 37,754.89, while Nifty ended below the 11,350-mark. IndusInd Bank shares closed 2.8% higher at Rs 1,683 on NSE, while Yes Bank shares closed 2.3% higher at Rs 250 on NSE, to emerge among the biggest Sensex gainers.