Share market HIGHLIGHTS: Sensex loses 491 points, Nifty ends at 11,672 amid global tensions; Tata Steel major loser

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Updated:Jun 17, 2019 3:59:38 pm

The Indian headline indices-Sensex and Nifty ended lower on Monday amid rising trade tensions between US and China. While the Sensex lost 491.28 points, Nifty50 also closed lower at 11,672.15, down 151.15 points from the previous close.

Share Market Live, Stock Market Live, Nifty Live, NSE live, BSE live, Live Market Update, Market Today, स्टॉक मार्केट, शेयर बाजार, Indian Share Market Live, Indian Stock Market LiveStock Market Live: Sensex, Nifty to open flat on Monday amid US-China trade tensions

The Indian headline indices-Sensex and Nifty ended lower on Monday amid rising trade tensions between US and China. While the Sensex lost 491.28 points to end at 38,960.79 level, the broader index Nifty50 also closed lower at 11,672.15, down 151.15 points from the previous close. The investors will also keep a watch on US Fed monetary policy to be announced this week.

Today, on the BSE the major losers are Yes Bank, NTPC and Infosys, while the top losers are Vedanta, Tata Steel, Axis Bank, Tata Motors and Axis Bank, the leading gainers are Yes Bank, Coal India and Infosys. Among Nifty50, the top gainers are Yes Bank, Zee Entertainment Enterprises and Coal India, whereas the losers are Tata Steel, Tata Motors and JSW Steel. All the sectoral indices ended in red including metal, energy and auto.

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14:56 (IST)17 Jun 2019
Crude oil prices slip as economic worries outweigh supply fears

Oil prices slipped on Monday as signs of an economic slowdown amid international trade disputes began to outweigh supply fears that were stoked by attacks on oil tankers in the Gulf of Oman last week and sent prices higher. Brent futures fell 25 cents, or 0.4%, to $61.76 a barrel by 0750 GMT, having gained 1.1% on Friday.U.S. West Texas Intermediate (WTI) crude futures were down 22 cents, or 0.4%, at $52.29, having firmed by 0.4% in the previous session. “China’s industrial output growth (is) falling to the lowest level in 17 years amid trade tensions with the U.S. Today, oil markets will have to digest more demand concerns as India implemented retaliatory tariffs on a number of U.S. goods yesterday,” consultancy JBC Energy said in a note. (Reuters)

14:25 (IST)17 Jun 2019
Emerging market stocks dip; Fed meeting eyed

Emerging market stocks slipped on Monday, while most developing world currencies traded in narrow ranges against the dollar a day ahead of the start of the U.S. Federal Reserve's keenly anticipated meeting. Developing world investors hope the Fed will continue to show patience at its two-day meeting starting on Tuesday, with some pricing in lower U.S. borrowing costs, following a bruising 2018 which saw capital drain away from emerging markets as the Fed boosted returns on holding dollars. (Reuters)

14:23 (IST)17 Jun 2019
Nickel futures fall on muted demand

Nickel prices fell 0.68 per cent to Rs 870.80 per kg Monday as traders trimmed their holdings amid easing demand at the spot market.On the Multi Commodity Exchange, the June contracts of nickel was trading lower by Rs 6, or 0.68 per cent, to Rs 870.80 per kg in a business volume of 7,307 lots. Marketmen said offloading of positions by participants due to slackened demand from alloy makers at the spot market mainly weighed on nickel futures here. (PTI)

13:07 (IST)17 Jun 2019
Pirmal Enterprises shares fall 3 per cent after entire stake sale in Shriram Transport Finance

Piramal Enterprises shares fell 3 per cent after the company sold its entire direct investment of 9.96 per per cent in the Shriram Transport Finance Company to third party investors.

13:02 (IST)17 Jun 2019
Economist view on India's trade deficit

The recent trade figures draw a cautious picture. The moderation in exports is reflective of weaker global demand. Besides, the export trends in rest of Asia has been tepid on an average, implying limited impetus from growth front on exports momentum. Meanwhile, the sluggishness in non-oil non gold imports has been reflective of weaker domestic demand dynamics.  Oil imports bill are likely to rise as US exemptions for oil imports from Iran expires. Going ahead, we will watch out for trend in crude prices as it haggles between geopolitics amid recent US-Iran noises, OPEC production cuts, Iran sanction waivers etc., and weaker global growth outlook.

For FY20, we see CAD/GDP to remain stable at 2.2% ($65bn), assuming average Brent prices at $65/bbl. While we expect exports growth to moderate further amid slowing global demand, import growth is likely to ease, helped by lower Brent prices. The funding front will however be contingent on evolving global risk appetite as markets reassess global growth concerns and as trade war issues remain unresolved. We expect some improvement in capital account in FY20 largely borne in 1HFY20, implying BoP surplus of ~$4-5bn, according to Madahvi Arora, Economist with Edelweiss Security.

12:32 (IST)17 Jun 2019
BSE Heatmap

12:31 (IST)17 Jun 2019
Sensex extends losses; Nifty down over 100 points

Sensex is down over 300 points now, extending losses after opening in red today on worries over rising crude oil prices and escalating global trade tensions. NSE Nifty is down over a 100 points, trading at 11,723 points in early afternoon trade.

11:56 (IST)17 Jun 2019
ICICI Bank moves NCLAT against JP Associates

Private lender ICICI Bank has moved NCLAT for expediting IBC proceedings against JP Associates, CNBC TV18 reported. ICICI Bank shars are trading lower by 0.28 per cnet on BSE.

11:50 (IST)17 Jun 2019
ITC shares plunge after Brokerage firm lowers target price

Shares of ITC fell 0.63 per cent on Monday after the brokerage frirm CLSA lowered its target price to Rs 365 per share against the earlier price of Rs 400 per share. However, the brokergae house has maintained a BUY on ITC shares. 

11:42 (IST)17 Jun 2019
Reliance Infrastrucutre share tank more than 11 per cent

Shares of Relaince Infrastrucure tanked 11 per cent on BSE after the company reported net loss of Rs 3,301 crore for Jan-Mar quarter of FY19.

11:37 (IST)17 Jun 2019
Rupee trades flat at 69.79 per dollar

The Indian Rupee is trading flat at 69.79 per dollar against the previous close of 69.80 per dollar on Monday.

11:31 (IST)17 Jun 2019
MFs have only baout Rs 5,000 crore of exposure in DHFL

Mutual funds have only about Rs 5,000 cr of exposure DHFL & have written off 75% of book, Nimesh Shah, CEO of ICICI Prudential Mutual Funds said in an interaction with ET Now.

11:23 (IST)17 Jun 2019
Nifty heatmap

11:11 (IST)17 Jun 2019
Mutual Funds have healthy exposure to NBFCs

Mutual Funds have a very healthy exposure to NBFCs. Since September 2018, when the NBFC crisis started, some NBFCs have high market cap now and others have low. Only funds with exposure to troubled companes will see an impact, Nimesh Shah, CEO of ICICI Prudential Mutual Fund said in an interaction with CEO.

10:53 (IST)17 Jun 2019
BSE Heatmap

10:45 (IST)17 Jun 2019
Hexaware shares gain around 3 per cent

Shares of Hexaware Technologies gained about 3 per cent aftert the brokerage firm Nomura upgraded it to Neutral from Reduce after the IT compnay acquired Mobiquity. 

10:38 (IST)17 Jun 2019
Two to tango: Mahindra, Ford to joinly develop 9 SUVs

Mahindra & Mahindra (M&M) and Ford India will jointly develop nine sports utility vehicles (SUVs) starting 2020, with a combined investment of over $600 million (`4,300 crore approx), people aware of the development said. While six models, including compact and large size SUVs, will be shared by both the companies under a rebadging format, three will be made exclusively for Ford, which will be used by the company in both India and export markets. The arrangement will work over the next 6-8 years and more investments will be poured in, if needed.

Read more: Two to tango: Mahindra, Ford to joinly develop 9 SUVs

10:34 (IST)17 Jun 2019
UCO Bank declares Yash Birla wilful defaulter, puts notice with photo

olkata-based UCO Bank on Sunday declared Yashovardhan Birla, chairman of the Yash Birla group, a wilful defaulter after Birla Surya had defaulted on loans of Rs 67.65 crore extended by the bank. UCO Bank put out a public notice with Birla’s photograph.According to the notice, Birla Surya was sanctioned a credit limit of Rs 100 crore of fund-based facilities for the purpose of manufacturing of multi-crystalline solar photovoltaic cells from UCO Bank’s flagship corporate branch at the Mafatlal Centre, Nariman Point, Mumbai. The present balance outstanding is Rs 67.65 crore, in addition to unapplied interest from the date of the account turning into a non-performing asset (NPA).

Read more: UCO Bank declares Yash Birla wilful defaulter, puts notice with photo

10:15 (IST)17 Jun 2019
Shriram Finance shares fall 6 per cent

Share of Shriram Finance fell 6 perc ent in intra-day trading session to Rs 1011 per share on Monday.

10:03 (IST)17 Jun 2019
Markets should always be worried and cognizant of the variables

Markets should always be worried and cognizant of the variables. From India's perspective, it's a great time to be looking at the broad market, I think there is still an upside. One can make about 10-12 per cent on an annualized basis. Some segments are facing distress particularly- the farm and rural sector which need structural reforms, Bharat Iyer, Head-Equity Research at JP Morgan India said in an interaction with ET Now.

09:47 (IST)17 Jun 2019
Bond rally may stall as investors turn jittery about govt fiscal discipline

India’s bond rally is predicted to stall as investors turn jittery about the government’s fiscal discipline before next month’s federal budget. The 10-year yield will stay close to current levels at 6.98% by end of June, according to a Bloomberg survey, bringing an end to the slide of about 50 basis points over the past six weeks. Yields have tumbled as the Reserve Bank of India cut interest rates, Prime Minister Narendra Modi won a thumping election victory and slowing global growth spurred a global debt rally.

Read more: Bond rally may stall as investors turn jittery about govt fiscal discipline

09:22 (IST)17 Jun 2019
BSE heat map: Top gainers and losers on BSE

09:21 (IST)17 Jun 2019
Rupee opens flat at 69.80 per dollar against the previous close of 69.80

Rupee opened flat at 69.80 per dollar against the previous close of 69.80 per dollar on Monday morning. In the previous session, the Indian currency had closed lower by 29 paise aginst the last close of 69.51 per dollar. 

09:17 (IST)17 Jun 2019
PSU disinvestment: Govt to sell stake in 3 insurers to New India Assurance

Scouting for resources to make up for any potential shortfall in tax revenues, the government is exploring the feasibility of selling its stake in three general insurers —National, Oriental and United — after their proposed merger with New India Assurance.

“The department of investment and public asset management (DIPAM) is preparing a proposal which will be finalised after detailed discussions with the department of financial services (DFS) and other key stakeholders. Some other options are also being looked at,” a senior government official told FE.

Read more: PSU disinvestment: Govt to sell stake in 3 insurers to New India Assurance

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