Share market highlights: Sensex ends 538 points up, Nifty above 11,400; Bajaj Finance, Heromotocorp jump

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Updated:May 17, 2019 3:49:05 pm

Stock market highlights: After opening higher,the Sensex and Nifty extended gains in the afternoon trade on Friday, ahead of exit polls in weekend. The Sensex closed 538 points up to 37,930.77, while the Nifty closed above the 11,400-mark.

Election 2019 stock market strategy: What to do if BJP fails to secure majorityBajaj Finance shares are trading 5.6% higher at Rs 3,284.75.

Stock market highlights: After opening higher,the Sensex and Nifty extended gains in the afternoon trade on Friday, ahead of exit polls in weekend. The Sensex closed 538 points up to 37,930.77, while the Nifty closed above the 11,400-mark. Bajaj Finance shares ended 6.1% higher at Rs 3,301 while Heromotocorp shares ended 4.6% higher at Rs 2,632, to emerge among the biggest Sensex gainers. 

Asian shares were trying to end a bleak week in the black on Friday as upbeat U.S. economic news and solid company earnings offered a respite from the interminable Sino-U.S. trade saga. The reprieve might prove brief, however, given the fallout from President Donald Trump’s move to block China’s Huawei Technologies from buying vital American technology, Reuters reported.  We bring to you Live updates.

Live Blog

15:49 (IST)17 May 2019
BSE live: Sensex ends 538 points up, Nifty above 11,400; Bajaj Finance, Heromotocorp jump

After opening higher,the Sensex and Nifty extended gains in the afternoon trade on Friday, ahead of exit polls in weekend. The Sensex closed 538 points up to 37,930.77, while the Nifty closed above the 11,400-mark. Bajaj Finance shares ended 6.1% higher at Rs 3,301 while Heromotocorp shares ended 4.6% higher at Rs 2,632, to emerge among the biggest Sensex gainers. A look at LIVE Sensex heatmap. 

15:02 (IST)17 May 2019
BSE live: Sensex up 435 points, Nifty near 11,400; Bajaj Finance, Maruti Suzuki top gainers

After opening higher, the Sensex and Nifty extended gains in the afternoon trade on Friday, ahead of exit polls in weekend. The Sensex is up about 440 points to 37,840.45, while the Nifty is trading near the 11,400-mark. Bajaj Finance shares are trading 5.6% higher at Rs 3,284.75 while Heromotocorp shares are trading 3.6% higher at Rs 2,607.55, to emerge among the biggest Sensex gainers. Maruti Suzuki shares are up about 3% to Rs 6,675.  A look at live Sensex heatmap.

14:47 (IST)17 May 2019
Infosys offers 5 crore shares to employees; key things to know about performance based program

India’s second largest technology giant Infosys has announced that it will offer up to 5 crore shares to employees as a part of an expanded stock ownership programme, in a bid to attract top talent. The Expanded Stock Ownership Program 2019 links long term employee incentives with shareholder value creation, said the firm. The shares, equating to 1.15% of the company’s equity shares (about Rs 3,700 crore) would vest on challenging criteria, said Infosys. Infosys said that it has been a pioneer in India, rewarding its employees through stock ownership programs starting in 1994, including the 2015 Incentive Compensation Plan.

Also read: Infosys offers 5 crore shares to employees; key things to know about performance based program

12:59 (IST)17 May 2019
BSE live:Sensex up 350 points, Nifty above 11350; Bajaj Finance jumps 6%

After opening higher, the Sensex and Nifty extended gains in the afternoon trade on Friday, tracking mixed global cues. The Sensex is up about 343 points to 37,736.80, while the Nifty is trading  above the 11,350-mark. Bajaj Finance shares are trading 5.6% higher at Rs 3,284.75 while Heromotocorp shares are trading 3.6% higher at Rs 2,607.55, to emerge among the biggest Sensex gainers. A look at LIVE Sensex heatmap.

11:11 (IST)17 May 2019
What should the stock market investors do to overcome election uncertainty?

We are nearly at the end of polling for general elections and as expected we are witnessing enhanced volatility in the stock market. The market has rallied to all-time high last month factoring expectations of current government continuity at the centre before correcting lately on account of the global risk aversion. As the D-day for counting approaches the volatility in the markets is expected to build up and we expect it to be very high between the end of the 7th phase and the counting day as the exit poll results would throw all types of possibilities from stable, one party led government to fractured verdict.

Also read: What should the stock market investors do to overcome election uncertainty?

10:04 (IST)17 May 2019
US slaps sanctions over Russia rights despite revived ties

The United States has imposed sanctions on five Russians over abuses including the killing of a prominent opposition leader, days after top-level talks seemed to ease tensions between the powers. The State Department highlighted the actions against the five people, plus one entity, as it submitted an annual report required by Congress on actions taken under a law over human rights in Russia. The law, which blocks any US assets of blacklisted people and bars them from traveling to the United States, is named after Sergei Magnitsky, an anti-corruption accountant who died in custody in 2009.

Also read: US slaps sanctions over Russia rights despite revived ties

09:27 (IST)17 May 2019
BSE live: Sensex up 200 points, Nifty near 11300; Yes Bank, IndusInd Bank top gainers

The Sensex and Nifty opened marginally higher on Friday morning, tracking mixed global cues. The Sensex is up about 200 points to 37,593.48, while the Nifty is nearing the 11,300-mark. Yes Bank shares are trading 4% higher at Rs 143, while Bajaj Finance shares are up about 2.1% to Rs 3,177.90.  Sun Pharma, Tata Motors shares are among the biggest losers, shedding up to 1%. A look at LIVE Sensex heatmap.

09:09 (IST)17 May 2019
US trade war will only make us stronger, China’s top paper says

The trade war with the United States will only make China stronger and will never bring the country to its knees, the Communist Party’s People’s Daily wrote in a front page commentary that evoked the patriotic spirit of past wars. The world’s two largest economies are locked in an increasingly acrimonious trade dispute that has seen them level tariffs on each other’s imports.

Also read: US trade war will only make us stronger, China’s top paper says

09:08 (IST)17 May 2019
China says economic impact of US trade tensions ‘controllable’

China’s state planner said on Friday trade frictions with the United States has had some impact on China’s economy, but it was “controllable” and countermeasures would be rolled-out when needed to “keep economic operations within reasonable range”. The National Development and Reform Commission (NDRC) gave its assessment during a press conference held in Beijing. China reported surprisingly weaker growth in retail sales and industrial output for April on Wednesday, adding pressure on Beijing to roll out more stimulus as the trade war with the United States escalates.

Also read: China says economic impact of US trade tensions ‘controllable’

08:50 (IST)17 May 2019
Dollar holds near 2-week high on strong US data, higher Treasury yields

The dollar held near a two-week high against its peers on Friday, supported by strong U.S. economic data and a bounce in Treasury yields. The dollar index versus a basket of six major currencies stood at 97.836 after reaching 97.882 on Thursday, its highest since May 3. The greenback reached the two-week peak on robust U.S. housing data and a weekly jobless claims report which pointed to sustained labour market strength in the world’s biggest economy. The U.S. currency also drew strength as its counterparts such as the euro and pound were dogged by bearish factors.

Also read: Dollar holds near 2-week high on strong US data, higher Treasury yields

08:49 (IST)17 May 2019
Titan surges to fresh record high after crossing Rs 1 lakh crore mcap; should you buy stock?

Rising for the eighth consecutive session, shares of Tata Group’s jewellery major Titan Company surged on Thursday morning to a fresh record high. Titan share price gained as much as 1.97% to hit the day’s high at Rs 1,181.70 on BSE. Yesterday, the surge in the stock led Titan to reclaim the Rs 1 lakh crore in market capitalisation. Titan commands a whopping 1.04 lakh crore in market capitalisation, data from BSE showed. The shares have been on a rirsing spree after the firm reported strong Q4 results last week. 

Also read: Titan surges to fresh record high after crossing Rs 1 lakh crore mcap; should you buy stock?

08:48 (IST)17 May 2019
IndiGo CEO calms employee fears but does not debunk Bhatia, Gangwal fallout news

Amid reports of a fallout between IndiGo promoters Rahul Bhatia and Rakesh Gangwal, CEO Ronojoy Dutta wrote to the airline’s employees trying to assuage any concerns or uncertainties but did not breathe a word debunking the alleged fallout. IndiGo’s growth strategy is in place and the management is fully charged by the Board to implement it, Ronojoy Dutta said in the email to employees, according to a PTI report. He said that the airline is aware of the media reports circulating which have alleged that an argument has erupted between the promoters.

Also read: IndiGo CEO calms employee fears but does not debunk Bhatia, Gangwal fallout news

08:47 (IST)17 May 2019
Tata Global Beverages on lookout for talent; MD says will need people to expand business

Tata group company is scouting for talented people to expand the business after the latest consolidation move brought all its consumer-facing businesses under one umbrella. Tata Global Beverages — the joint venture operator of Starbucks in India — will soon be on the lookout for talent as the company embarks on business expansion after merging Tata Chemicals’ consumer products business with itself, MD and CEO  Ajoy Misra told CNBC TV 18. Tata Global Beverages will be rechristened to Tata Customer Products after the merger. Further, the company will be looking to launch new products, while it expects a synergy of 2-3% from the combined India business, he added.

Also read: Tata Global Beverages on lookout for talent; MD says will need people to expand business

08:46 (IST)17 May 2019
India faces economic slowdown; here’s what SBI suggests to revive growth

The volatile trends exhibited in the benchmark stock indices reflect that India is going through a growth slowdown, a report said. So, the Reserve Bank of India (RBI) needs to come up with a rate cut of nearly 25 basis points in its June monetary policy review to reverse the ongoing slowdown in the economy, said an SBI research report. The initial trends in sectors including telecom equipment & infra services, agro chemicals, petrochemicals, infrastructure developers & castings, forgings & fasteners show overall fall in Q4FY19, the SBI Ecowrap also said. The rural income is getting hit due to depressed rural prices and weak demand is impacting the FMCG sector.

Also read: India faces economic slowdown; here’s what SBI suggests to revive growth

08:45 (IST)17 May 2019
PNB to remain sole promoter of PNB Housing; stake sales to General Atlantic, Varde Holdings fall through

State-run Punjab National bank will remain the sole promoter of PNB Housing Finance Ltd after its share purchase agreement (SPA) with General Atlantic Group and Varde Holdings fell through. While the SPA with Varde Holdings was mutually terminated, the pact with General Atlantic couldn’t get the nod of competition commission of India or CCI. The bank in March had entered into a pact to sell 1.08 crore equity shares each to both the alternative investment funds at Rs 850 per share.

Also read: PNB to remain sole promoter of PNB Housing; stake sales to General Atlantic, Varde Holdings fall through

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