Share Market highlights: Sensex ends 48 points down, Nifty above 11,300; SBI, HDFC top gainers

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Updated:Jul 23, 2019 3:49:05 pm

Share Market highlights: After opening lower, the headline indices Sensex and Nifty recovered in the afternoon trade on on Tuesday, tracking mixed global cues. The Sensex closed 48 points down to 37,983f

sensex, bseThe Sensex closed 48 points down to 37,983, while the Nifty ended near the 11,300-mark.

Share Market Today News Live Updates: After opening lower, the headline indices Sensex and Nifty recovered in the afternoon trade on on Tuesday, tracking mixed global cues. The Sensex closed 48 points down to 37,983, while the Nifty ended near the 11,300-mark. Powergrid, Kotak Mahindra Bank, Heromotocorp were among the biggest gainers, jumping up to 3% on BSE. Stocks in Asia Pacific edged up on Tuesday morning, following overnight gains on Wall Street amid better-than-expected earnings. Mainland Chinese stocks were higher in early trade, with the Shenzhen composite 0.13% higher and Shenzhen component rising about 0.3%. The Shanghai composite traded fractionally higher, while Hong Kong’s Hang Seng index was largely flat, CNBC reported.

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Highlights

    15:46 (IST)23 Jul 2019
    BSE live: Sensex ends 48 points down, Nifty above 11,300; SBI, HDFC top gainers

    After opening lower, the headline indices Sensex and Nifty recovered in the afternoon trade on on Tuesday, tracking mixed global cues. The Sensex closed 48 points down to 37,983, while the Nifty ended near the 11,300-mark. Powergrid, Kotak Mahindra Bank, Heromotocorp were among the biggest gainers, jumping up to 3% on BSE. A look at LIVE Sensex heatmap.

    15:23 (IST)23 Jul 2019
    Does Patanjali sell different sharbat in US than in India? What Baba Ramdev’s firm says on USFDA report

    Denying report of having differential medicinal and dietary claims for sharbat bottles earmarked to be sold in the Indian and the US markets, Patanjali Ayurved on Tuesday said that the accusation only seeks to malign the company’s image. Baba Ramdev-led Patanjali Ayurved keeps additional medicinal and dietary market claims on the bottles to be sold in the domestic market as against the ones for export to the US, news agency PTI had reported on Monday citing a report by the United States and Food and Drug Administration (USFDA). 

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    14:57 (IST)23 Jul 2019
    MSME seeking loan? Now get up to Rs 5-crore loan approved in less than an hour

    Five of India’s leading public sector lenders including State Bank of India, Andhra Bank, Corporation Bank, Oriental Bank of Commerce, and Union Bank of India have come together to facilitate the raising of loan by MSMEs in an easier way through PSBloansin59minutes.com — an online marketplace. The facility will enable in-principle approval for a term loan or working capital loan required by MSMEs for their businesses, SBI said in a statement. MSMEs would be able to secure a loan in the range of Rs 1 lac to Rs 5 crore within 59 minutes from public and private banks along with non-banking financial companies.

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    13:44 (IST)23 Jul 2019
    Acharya stirs hornet’s nest on his last day at RBI; flags govt borrowing squeezing companies

    RBI deputy governor Viral Acharya, who relinquishes office today six months ahead of the end of his term, has flagged excessive government borrowing, which he says can make the road difficult for the corporate sector. Flooding debt market can make the loans expensive for corporates, Viral Acharya said at an event. He pointed out that relative to output, India’s borrowing has ranged between 67 per cent and 86 per cent since 2000, which is higher than many emerging markets. Viral Acharya raised a concern about the safety and liquidity premium of the high-rated corporate bonds. High debt makes these bonds less sensitive to interest rate cuts.

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    13:00 (IST)23 Jul 2019
    BSE live: Sensex off lows, Nifty near 11,400; Infosys, Kotak Mahindra Bank top gainers

    After opening lower, the headline indices Sensex and Nifty recovered in the morning trade on on Tuesday, tracking mixed global cues. The Sensex is up about 50 points to 38,099, while the Nifty is trading above the 11,350-mark. Infosys, Yes Bank, Bharti Airtel, Kotak Mahindra Bank are among the biggest gainers, jumping up to 2%. A look at LIVE heatmap.

    12:13 (IST)23 Jul 2019
    Air India plans to bring all 17 grounded aircraft back into operation by October-end, says Ashwani Lohani

    Air India is planning to bring all of its 17 aircraft, which have been grounded for a “prolonged” period, back into operation by October-end, its chief Ashwani Lohani has said. These 17 aircraft have been grounded for time periods ranging from four months to one year due to lack of funds for their repair and maintenance. “We plan to retrieve all 17 prolonged grounded aircraft by the end of October,” Air India Chairman and Managing Director (CMD) Ashwani Lohani told PTI on Monday.

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    11:51 (IST)23 Jul 2019
    Infosys shares soar 6% after Q1FY20 results; should you buy or sell stock?

    Shares of IT major Infosys surged after the company raised its revenue growth guidance for the Apr-Jun quarter of FY20. Today, in the early trading, Infosys shares soared 6 per cent to Rs 770 per share after it opened at Rs 762 per share against the last close of Rs 727 per share. It increased its revenue forecast to 8.5-10 per cent in constant currency terms from 7.5-9.5 per cent pegged earlier. The Bengaluru-based company reported 5.2 per cent growth in consolidated net profit to Rs 3,802 crore for Q1FY20.

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    11:18 (IST)23 Jul 2019
    Paytm ramps up instant loans for MSMEs, self employed; partners with Clix

    Vijay Shekhar Sharma’s Paytm has ramped up its loans operations and has partnered with Clix Finance India Pvt. Ltd. to provide loans to MSMEs and self-employed people, it announced in a statement on Tuesday. Clix, a digital lending NBFC, and Paytm will now offer instant digital loans to both the customers and merchants of Paytm. The company targets “new-to-credit, self-employed, small and micro enterprises and small borrowers,” who are largely underserved and face difficulties to get loans, the digital commerce company said. The One97 Communication Ltd company will use proprietary machine learning models developed by Paytm and Clix, for the same. Paytm already has a partnership with TataCapital and Indifi, two other NBFCs. 

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    11:04 (IST)23 Jul 2019
    VA Tech Wabag gets Rs 1,187 crore order from BUIDCO

    Water treatment firm VA Tech Wabag on Tuesday said it has bagged Rs 1,187 crore order from Bihar Urban Infrastructure Development Corporation (BUIDCO) to develop sewage treatment plants in the state capital. The company secured the order under National Mission for Clean Ganga (NMCG) Scheme to develop sewage treatment plants of 150 million litres per day (MLD) capacity along with sewerage network of over 450 km in the Digha and Kankarbagh zones of Patna, one of the most populous cities on the banks of River Ganga, VA Tech Wabag said in a BSE filing.

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    10:36 (IST)23 Jul 2019
    HPCL says trade war and US shale to keep lid on oil prices

    The U.S.-China trade war and the growth of American oil supply will keep crude prices in check, notwithstanding Middle East tensions, according to the head of one of India’s biggest refiners. Brent crude will likely remain in a range of $60 to $70 a barrel and could fall toward $60 if demand worsens, said Mukesh Kumar Surana, the chairman and managing director of Hindustan Petroleum Corp. The global benchmark was trading at around $63 a barrel on Monday. “Oil-producing countries have to ensure that crude remains relevant,” he said in an interview in Mumbai. “So prices have to be kept in a reasonable range.”

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    10:21 (IST)23 Jul 2019
    BSE live: Sensex recovers from lows, Nifty near 11,400; Infosys, Yes Bank top gainers

    After opening lower, the headline indices Sensex and Nifty recovered in the morning trade on on Tuesday, tracking mixed global cues. The Sensex is up about 60 points to 38,109, while the Nifty is trading above the 11,350-mark. Infosys, Yes Bank, Bharti Airtel, Kotak Mahindra Bank are among the biggest gainers, jumping up to 2%. A look at LIVE Sensex heatmap.

    10:13 (IST)23 Jul 2019
    Outgoing RBI Deputy Governor Viral Acharya’s parting message: Set up independent body to rein in fiscal deficit

    Flagging the perils of high government debt, outgoing RBI Deputy Governor Viral Acharya has pitched for “reducing the ease” with which fiscal deficit goals are shifted through the establishment of an independent “fiscal council”. In the speech delivered in Kochi last year at a Federal Bank event and published on the eve of him demitting office after a surprise resignation last month, Acharya made a strong case for reducing the government borrowing and making more resources available for the private sector.

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    09:58 (IST)23 Jul 2019
    India’s edible oil imports could jump to record as scanty rains trim output

    India’s edible oil imports are likely to rise 7.3% in 2019/20 to a record high as weak monsoon rains curtail yields of summer-sown oilseeds such as soybeans and groundnut, a senior industry official said. Higher purchases by the world’s biggest edible oil importer could support palm oil prices that are under pressure due to sluggish demand amid an expected rise in production.

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    09:56 (IST)23 Jul 2019
    Poor show: Dismal Q1 for corporate India

    Weak consumer spending and higher input costs have led India Inc to deliver muted earnings growth for the quarter ended June. The revenue for a clutch of 78 companies rose at lowest pace in the last 8 quarters, so as the operating profit.

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    09:48 (IST)23 Jul 2019
    Oil gains as Gulf tanker seizure raises tensions

    Oil prices rose on Monday amid high tensions in the Middle East after a British tanker was seized by the Iranian military at the end of last week. Brent crude futures were up 51 cents, or 0.8%, at$62.98 a barrel by 0042 GMT. The international benchmark rose to as high as $63.47 earlier. West Texas Intermediate (WTI) crude futures were up 15 cents, or 0.3%, at $55.78. WTI fell over 7% and Brent fell more than 6% last week.

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    09:31 (IST)23 Jul 2019
    BSE live: Sensex down 70 points, Nifty near 11,900; Bharti Airtel, Kotak Mahindra Bank top gainers

    The headline indices Sensex and Nifty opened marginally lower on Tuesday morning, tracking mixed global cues. The Sensex is down about 90 points to 37,940, while the Nifty is trading above the 11,900-mark. Bharti Airtel, Kotak Mahindra Bank are among the biggest gainers, jumping up to 2%. A look at LIVE Sensex heatmap.

    09:18 (IST)23 Jul 2019
    Ex-diplomats feel Donald Trump’s Kashmir mediation remarks may hit Indo-US ties

    President Donald Trump remarks on Monday that Prime Minister Narendra Modi sought his mediation on the Kashmir issue will “damage” the Indo-US relations, ex-diplomats said. New Delhi has already rejected Trump’s claim, which he made during a meeting with Pakistan Prime Minister Imran Khan, saying India’s consistent position has been that all outstanding issues with Pakistan are discussed only bilaterally. Former US Ambassador to India Richard Verma told PTI, “The President did a lot of damage today. His comments on Kashmir and Afghanistan were way off the mark.”

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    09:14 (IST)23 Jul 2019
    US lawmakers support India’s stand on Kashmir, one of them apologises for Donald Trump remarks

    An influential Democratic Congressman on Tuesday apologised to India’s US envoy for President Donald Trump’s “embarrassing” remarks on Kashmir, while several others came out in support of New Delhi’s established stand against any third-party role on the issue. “I just apologized to Indian Ambassador Harsh Shringla for Trump’s amateurish and embarrassing mistake,” Congressman Brad Sherman tweeted hours after Trump’s stunning claim that Prime Minister Narendra Modi sought his mediation or arbitration efforts to resolve the Kashmir issue.

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    09:13 (IST)23 Jul 2019
    Donald Trump hints US unlikely to lift freeze on security assistance to Pakistan

    US President Donald Trump on Monday hinted that he is unlikely to lift the freeze of security assistance to Pakistan till the time he is satisfied with Islamabad’s actions against terrorist network. “We were paying USD 1.3 billion to Pakistan in aid for many years. The problem was Pakistan was not doing anything for us,” Trump told Prime Minister Imran Khan in his Oval Office during their first meeting.

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    09:12 (IST)23 Jul 2019
    Wall Street edges higher ahead of major earnings, central bank meetings

    U.S. stocks eked out small gains on Monday as investors were wary of making big bets ahead of key central bank meetings on interest rates and waited for earnings from marquee companies including Facebook and Amazon due later this week. Shares of Boeing Co fell 1.13% and pressured the blue-chip Dow index after rating agency Fitch revised its outlook on the planemaker to “negative” from “stable,” while the tech-heavy Nasdaq was lifted by chipmakers.

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