Share market Highlights: Sensex ends flat, Nifty below 11,350; IndusInd Bank, Yes Bank among top gainers

By: | Updated:Mar 14, 2019 3:36 pm

Share market highlights: 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.

share market boom, share market, share market election, share market election result, bank nifty, sensex, nifty, sensex loksabha election, nifty lok sabha election, share market booming, Lok Sabha election 2019Share market Highlights: Yes Bank shares closed 2.3% higher at Rs 250 on NSE, to emerge among the biggest Sensex gainers. (Image : Reuters)

Share market Highlights: 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. 

U.S. stocks rose on Wednesday, led by gains in healthcare shares, and Boeing edged upward even as the United States joined other nations in grounding the company’s 737 MAX jets. Asian shares paused on Thursday as investors awaited data from China for clues about the health of the world’s second largest economy while the pound shot up to near nine-month highs as the risk of a no-deal Brexit receded following a late-night vote, Reuters reported. We bring to you Live updates.

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

15:36 (IST)14 Mar 2019
BSE live: Sensex ends flat, Nifty below 11,350; IndusInd Bank, Yes Bank among top gainers

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. A look at live Sensex heatmap.

15:07 (IST)14 Mar 2019
ONGC’s biggest oil fields including Mumbai High came close to being sold to private, foreign firms

State-owned ONGC’s nine biggest oil and gas fields including Mumbai High and Vasai East came tantalizing close to being sold to private and foreign companies but the plan was nixed after strong opposition from within the government, sources said. A high-level committee headed by Niti Aayog Vice Chairman Rajiv Kumar late last year considered “transferring” western offshore oil and gas fields of Mumbai High, Heera, D-1, Vasai East and Panna as well as Greater Jorajan and Geleki field in Assam, Baghewala in Rajasthan and Kalol oilfield in Gujarat to private/foreign companies.

Also read: ONGC’s biggest oil fields including Mumbai High came close to being sold to private, foreign firms

14:50 (IST)14 Mar 2019
Rupee weakens after RBI's rare dollar-rupee swap auction

The Indian rupee weakened against the dollar on Thursday and the one-year forward premium fell after the central bank announced a swap auction analysts said was aimed at boosting liquidity at local banks and preventing a sharp rise in the exchange rate. The rupee weakened to 69.68 to the dollar, while the one-year dollar/rupee forward premium fell to 3.63 from 3.89. The 10-year benchmark bond yield was up two basis points to 7.57 percent as the move reduced expectations for bond purchases by the central bank, traders said. (Reuters reported)

14:23 (IST)14 Mar 2019
Bharti Airtel appoints Nakul Sehgal as CFO; Sunil Mittal says this about former Telenor exec

Bharti Airtel Thursday said that it has roped in Telenor’s Malaysian unit former CFO Nakul Sehgal as Corporate Chief Financial Officer, to look after fund raising of the company and Airtel Africa IPO. He will report to Bharti Airtel Chairman Sunil Bharti Mittal. “Over the years, Bharti has always attracted the best of talent from across industry verticals and geographies. I am confident that Nakul’s vast experience within the financial and commercial domain will add value to the group,” Mittal said in a statement.

Also read: Bharti Airtel appoints Nakul Sehgal as CFO; Sunil Mittal says this about former Telenor exec

14:12 (IST)14 Mar 2019
This company is now India’s second most-valuable logistics startup in just 4 years, nears unicorn tag

India’s long-haul logistics market to maximise efficiency for underutilized trucks and optimising time and cost for shippers through technology has Blackbuck among top players that raised $43 million from Goldman Sachs and Facebook co-founder Eduardo Saverin’s B Capital in its latest fundraising. With the latest fund infusion, Blackbuck, which was launched in first half of 2015, has also become India’s second most-valuable logistics startup. The data sourced from Paper.vc showed that the startup’s valuation has hit $862 million (Rs 6,039 crore) mark, ahead of its competitor Rivigo’s $526 million valuation.

Also read: This company is now India’s second most-valuable logistics startup in just 4 years, nears unicorn tag

13:16 (IST)14 Mar 2019
Potato, onion, fruits, milk became costlier as wholesale inflation also rises after retail

After retail inflation, Wholesale price inflation too surged in February, higher than the forecast given by economists in a Reuters poll. WPI inflation rose to 2.93 percent in February as against a 10-month low of  2.76 percent in January, official data showed, on account of uptick in food and fuel prices. The food prices last month surged 3.29 percent on-year as against a 1.84 percent rise a month earlier, the data showed. The retail Inflation surged for the first time in four months as the year-on-year fall in food prices eased. CPI inflation stood at 2.57 percent in February compared to a revised 1.97 percent in January 2019.

Also read: Potato, onion, fruits, milk became costlier as wholesale inflation also rises after retail

12:23 (IST)14 Mar 2019
Yes Bank share price jumps 4% to emerge among top Sensex gainers

Amid a tepid rise in the headline index Sensex, private sector lender Yes Bank shares are trading higher. Yes Bank shares price gained by more than 4% to Rs 254. Destsche Bank believes that things for Yes Bank are falling into place as tough phase is behind and the bank is moving towards stability. The research and brokerage firm has maintained a 'buy' call on the stock with a target share price of Rs 300. The research firm noted that better perception could lead to incresed prospects for the bank. The corporate loan growth could slow down to 12-15%. 

12:06 (IST)14 Mar 2019
Ranbaxy-Daiichi case: SC asks Malvinder, Shivinder to apprise how they will pay Rs 3,500 crore

The Supreme Court Thursday asked former Ranbaxy promoters Malvinder Singh and Shivinder Singh to apprise it how they propose to comply with the Rs 3500 crore arbitral award passed against them by a Singapore tribunal. A bench headed by Chief Justice Ranjan Googi asked the Singh brothers, who were present in the court, to consult their financial and legal advisors and give a concrete plan on how they will comply with the tribunal’s order. “It is not about individual honour but it doesn’t look good for the country’s honour. You were the flag bearers of the pharmacare industry and it doesn’t look good that you are appearing in court,” the bench also comprising Justices Deepak Gupta and Sanjiv Khanna said.

Also read: Ranbaxy-Daiichi case: SC asks Malvinder, Shivinder to apprise how they will pay Rs 3,500 crore

11:49 (IST)14 Mar 2019
Zee Entertainment shares jump on Sony stake buy buzz; key things to know

Shares of Subhash Chandra-promoted Zee Entertainment Enterprises gained in trade on Thursday morning after media reports indicated that Sony is in advanced talks with the firm to pick up 20-25% stake in the firm. Zee Entertainment share price gained nearly 3% to hit the day's high at Rs 463. Zee's stake sale comes even as the company is struggling to raise funds and pay off debt. The amount raised via the deal will be used to repay promoter debt worth Rs 13,000 crore, a Livement report said citing three people aware of the discussions.

Also read: Zee Entertainment shares jump on Sony stake buy buzz; key things to know

11:26 (IST)14 Mar 2019
RIL shares hit fresh record high; here's what Morgan Stanley has to say

Shares of billionaire Mukesh Ambani-led Reliance Industries scaled a new peak on Thursday morning to hit fresh record high on BSE, amid heavy buying in blue chip large cap stocks. RIL shares price gained nearly 1% to hit the day’s high at Rs 1,361.45. Its mcap surged past Rs 8.56 lakh crore. Global brokerage firm Morgan Stanley has maintained an ‘Overweight’ call on Reliance Industries even though it believes the oil and gas major started off 2019 on a tough note . The research firm has revised the target price of Rs 1,230.

10:57 (IST)14 Mar 2019
Azim Premji commits further Rs 52,750 crore to philanthropy; here's how much he has given away till now

IT czar Azim Premji has announced that all earnings of about 34% shares of India’s major IT exporter Wipro amounting to 52,750 crore will be transferred to the endowment that supports the Azim Premji Foundation. Tjis has raised his overall commitment to Rs 1.45 lakh crore ($21 billion), making it one of the five largest private endowments in the world and the biggest in Asia. Notably, the Premji has committed earnings from 67% of Wipro’s shares to the charitable foundation. The Premji family and entities controlled by them hold a about 74.30% stake in the firm.

10:31 (IST)14 Mar 2019
BSE live: Sensex pares gains, Nifty below 11,350; HDFC Bank, RIL hit fresh record high

After opening higher, Sensex and Nifty reversed gains in the morning trade on Thursday. The Sensex is down 8 points to 37,744.82 while the Nifty is trading below the 11,350-mark. Zee Entertainment shares gained by more than 3% to hit the day's high at Rs 459.95, after media reports indicated that Sony is in advanced talks with the firm to pick up 20-25% stake in the firm. HDFC Bank shares hit fresh record high of Rs 2,247.50, while billionaire Mukesh Ambani-led Reliance Industries scaled a new high of Rs 1,362 on NSE. A look at live Sensex heatmap.

10:24 (IST)14 Mar 2019
Zee Entertainment share price jumps on reports of Sony picking up a 20% stake

Shares of Subhash Chandra-promoted Zee Entertainment Enterprises gained in trade on Thursday morning after media reports indicated that Sony is in advanced talks with the firm to pick up 20-25% stake in the firm. Zee Entertainment share price gained nearly 3% to hit the day's high at Rs 463. Zee's stake sale comes as the company is struggling to raise funds and pay off debt. The amount raised via the deal will be used to repay promoter debt worth Rs 13,000 crore, a Livement report said citing three people aware of the discussions.

10:20 (IST)14 Mar 2019
Rupee slips 24 paise to 69.78 against USD in early trade

The rupee fell 24 paise to 69.78 against the US dollar in opening trade Thursday on increased demand for the greenback from importers and banks and rising crude oil prices. Forex dealers said, strengthening of the American currency in overseas market weighed on the domestic currency. However, sustained foreign fund inflows and higher opening in domestic equities supported the rupee and restricted the fall.

Also read: Rupee slips 24 paise to 69.78 against USD in early trade

10:10 (IST)14 Mar 2019
HDFC Bank shares hit record high; Bank Nifty scales new peak

India's major private sector lender HDFC Bank shares hit a new record high on Thursday morning, propelling the  Bank Nifty to scale a new high. HDFC Bank share price jumoed by more than 1% to hit the day's high at Rs 2,227 on BSE. The Bank Nifty touched a fresh record high level of 29,070.35 in the morning trade on Thursday, led by gains in Yes Bank, IndusInd Bank, Axis Bank and IDFC Bank jumping up to 4%. A look at live Nifty Bank gainers. 

 

09:29 (IST)14 Mar 2019
BSE live: Sensex up 110 points, Nifty above 11,350; Zee Entertainment, Yes Bank shares jump

Sensex and Nifty opened higher on Thursday, tracking positive global cues. The Sensex is trading 121 points higher at 37,873.50 while the Nifty is trading above the 11,350-mark. Zee Entertainment shares gained by more than 2.6% to hit the day's high at Rs 459.95, after media reports indicated that Sony is in advanced talks with the firm to pick up 20-25% stake in the firm. Yes Bank shares jumped by more than 2% to hit the day's high at Rs 249.55.  A look at LIVE Sensex heatmap.

09:14 (IST)14 Mar 2019
India’s first Real Estate Investment Trust: Blackstone, Embassy’s Rs 4,750-cr REIT issue this week

Embassy Office Parks, a joint venture of Blackstone and realty firm Embassy, which is launching India’s first real estate investment trust (REIT) next week, also proposed to raise Rs 4,000 crore via non-convertible bonds to partly meet its construction finance requirements. The firm is raising Rs 4,750 crore through REIT issue, comprising of 12,95,56,000 units. The REIT issue will open on March 18 with a price band of Rs299-300 per unit. The issue closes on March 20.

Also read: India’s first Real Estate Investment Trust: Blackstone, Embassy’s Rs 4,750-cr REIT issue this week

09:09 (IST)14 Mar 2019
Weak retail sales see dealers stuck with passenger vechiles, two-wheelers stock

With weak retail sales for the last few months, dealers of passenger vehicles and two-wheelers are saddled with inventory much above the normal levels. For PVs, it stands at around 60 days against the normal 35. For two-wheelers, it hit 90 days against 30 days.

Also read: Weak retail sales see dealers stuck with passenger vechiles, two-wheelers stock

09:08 (IST)14 Mar 2019
These states continue cheap electricity tariffs despite failing to meet UDAY targets

Despite a big slippage on meeting the operational goals set under the UDAY scheme in FY19 and the Union power ministry repeatedly flagging inadequate tariff hikes as one of the reasons behind state electricity boards’ (SEBs) weak financial health, electricity regulators of Bihar, Jharkhand and Chhattisgarh have apparently buckled under pre-election political pressure and announced tariff plans that would leave big revenue deficits for FY20.

Also read: These states continue cheap electricity tariffs despite failing to meet UDAY targets

08:51 (IST)14 Mar 2019
Start-ups hiring fewer women to skirt 26-week maternity leave rule

With as many as 46% of start-ups and SMEs in a survey saying they have mostly hired males in the past 18 months due to a change of norms that mandates paid maternity leaves of 26 weeks from 12 weeks earlier, a community of small businesses last week asked the Centre to exempt them from this stipulation.

Also read: Start-ups hiring fewer women to skirt 26-week maternity leave rule

08:49 (IST)14 Mar 2019
Flight tickets to get costlier with 20% fleet of IndiGo, Jet Airways, Spicejet off skies

With the grounding of 12 Boeing737MAX aircraft, all belonging to SpiceJet, by the Directorate General of Civil Aviation Wednesday onwards, Indian skies have now gone short of 114 planes of its total fleet size of 585, which is sure to push up spot fares by up to 25% in the short term. Further, since lifting of the ban will not happen soon and financial problems in Jet Airways dragging, capacity shortage is there to stay leading to a long-term pain as well.

Also read: Flight tickets to get costlier with 20% fleet of IndiGo, Jet Airways, Spicejet off skies

08:49 (IST)14 Mar 2019
NCLAT reserves order on Rcom plea to use tax refunds to clear dues

The National Company Law Appellate Tribunal (NCLAT) on Wednesday reserved its order on a petition by Reliance Communications seeking the release of income-tax refunds to clear dues of Ericsson India. Lenders of RCom have opposed the plea. After hearing both the sides, the NCLAT bench headed by chairperson SJ Mukhopadhyay reserved the order in the case. Senior lawyer Neeraj Kishan Kaul, appearing for State Bank of India, argued for rejection of the RCom’s appeal, contending that it will lead to outgo of public money for settling payment of a private party.

Also read: NCLAT reserves order on Rcom plea to use tax refunds to clear dues

08:47 (IST)14 Mar 2019
Asia shares take a breather, pound near 9-month peak

Asian shares paused on Thursday as investors awaited data from China for clues about the health of the world’s second largest economy while the pound shot up to near nine-month highs as the risk of a no-deal Brexit receded following a late-night vote.  MSCI’s broadest index of Asia-Pacific shares outside Japan was barely changed at 522.38 points. Japan’s Nikkei jumped 0.6 percent while Australian and New Zealand shares each added 0.2 percent. Asian markets have seen an impressive rally this year with the MSCI index climbing about 10 percent largely after the U.S. Federal Reserve all but abandoned its rate hike plans.

Also read: Asia shares take a breather, pound near 9-month peak

08:46 (IST)14 Mar 2019
Gold hovers near 2-wk high on tepid US data, Brexit vote

Gold held close to two-week highs on Thursday as the U.S. dollar eased after British lawmakers rejected a no-deal Brexit in any scenario and as tepid U.S. inflation data reduced the chance of future U.S. interest rate hikes. Spot gold was down 0.1 percent at $1,307.53 per ounce by 0110 GMT, after touching its highest since March 1 at $1,311.07 in the previous session.  U.S. gold futures were also down 0.1 percent at $1,308 an ounce.

Also read: Gold hovers near 2-wk high on tepid US data, Brexit vote

08:45 (IST)14 Mar 2019
Wall Street rises; Boeing up despite US grounding of 737 MAX jets

U.S. stocks rose on Wednesday, led by gains in healthcare shares, and Boeing edged upward even as the United States joined other nations in grounding the company’s 737 MAX jets. Boeing Co shares ended up 0.5 percent at $377.14, recovering from a more than 3 percent fall in the afternoon, when the United States announced it was grounding Boeing’s 737 MAX jets following Sunday’s fatal crash in Ethiopia. The U.S. Federal Aviation Administration cited new satellite data and evidence from the scene of Sunday’s crash, the second disaster involving the 737 MAX in less than five months.

Also read: Wall Street rises; Boeing up despite US grounding of 737 MAX jets

Share market on Wednesday: After a tepid opening this morning, the Sensex and Nifty made a smart rebound in the afternoon trade on Wednesday. The Sensex closed 216.50 points higher at 37,752.17, while Nifty closed near the 11,350-mark. IndusInd Bank shares closed 4.3% higher at Rs 1,639, while Yes Bank shares closed 3.7% higher at Rs 244.35, to emerge among the biggest Sensex gainers.
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