Share market HIGHLIGHTS: Sensex ends flat, Nifty at 11,841; Tata Motors gains 2.6 per cent

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Updated:Jun 27, 2019 3:41:25 pm

The Indian headline indices- Sensex and Nifty ended flat on Thursday. The major gainers on BSE are M&M, Tata Motors, Axis Bank and ONGC, while the leading losers are Tech Mahindra, Reliance Industries, Power Grid and HCL Tech.

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 LiveSensex, Nifty end flat on Thursday

The Indian headline indices- Sensex and Nifty ended marginally lower on Thursday. While the Sensex lost 5 points to end at 39,586.41 from the previous close, the Nifty50 settled at 11,841.55, lower by 6 points from the last close.  The US President Donald Trump on Thursday said India must withdraw tariffs from US goods and he expressed his willingness to meet Modi on the sidelines of G20 summit on Friday in Japan. The SGX Nifty today ended at 11,877.50, up 8.50 points from the previous close. 

The major gainers on BSE are M&M, Tata Motors, Axis Bank and ONGC, while the leading losers are Tech Mahindra, Reliance Industries, Power Grid and HCL Tech.

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14:25 (IST)27 Jun 2019
Sensex, Nifty turn volatile

The Indian indices- Sensex and Nifty have turned volatile in the intraday trading on Thursday.While the Sensex is trading in green, Nifty has turned red, trading marginally lower than the previous close.

13:37 (IST)27 Jun 2019
Swiss authorities freeze 4 bank accounts of Nirav Modi, sister

Four Swiss bank accounts of beleaguered diamantaire Nirav Modi, the main accused in the USD 2-billion PNB fraud case, and his sister have been "frozen" by authorities in Switzerland as part of the criminal money laundering probe being conducted against them in India, official sources said. They said the accounts, at present, have deposits totalling Rs 283.16 crore and they have been frozen on the request of the Enforcement Directorate (ED) after it informed Switzerland authorities that the money kept in them are "proceeds of crime" of a bank fraud perpetrated by the duo. (PTI)

13:36 (IST)27 Jun 2019
India gets 24% below-average rainfall this week - weather office

India's monsoon rains were 24% below average in the week ended June 26, the weather office said on Thursday, as the seasonal rainfall was scanty over central and western parts of the country. The rains are crucial for farm output and economic growth as about 55% of the south Asian nation's arable land is rain-fed, and the farm sector makes up about 15% of a nearly $2.5-trillion economy that is Asia's third-biggest. (Reuters)

13:34 (IST)27 Jun 2019
Top gainers among Nifty50

13:15 (IST)27 Jun 2019
Dabur India shares rise

Dabur India shares surged more than 1 percent on Thursday after brokerage house Credit Suisse maintained outperform rating on the stock with a target of Rs 460 per share.

12:49 (IST)27 Jun 2019
Jubilant FoodWorks share price rises

Shares of Jubilant FoodWorks rose 1 per cent after Citi maintained buy call with 14 per cent upside.

12:40 (IST)27 Jun 2019
BSE Heatmap

12:20 (IST)27 Jun 2019
Sensex, Nifty trade higher

Sensex, Nifty are trading higher in the early trade on Thursday

11:55 (IST)27 Jun 2019
Indiabulls Housing Finance gains 4.4 per cent

Indiabulls Housing Finance has gained 4.4 per cent in the intra-day trading on Thursday morning.

11:33 (IST)27 Jun 2019
Gold subdued as focus turns to U.S.-China trade talks

Gold prices inched lower on Thursday following a steep fall in the previous session, as investors waited on any Sino-U.S. trade developments later this week, while bulls rolled back expectations of big U.S. interest rate cuts. Spot gold was down 0.2% at $1,406.21 per ounce as of 0529 GMT. Prices fell more than 1% in the previous session after U.S. Federal Reserve officials dented expectations of aggressive interest rate cuts. U.S. gold futures were 0.4% lower at $1,409.60 an ounce.

"There appears to be some fatigue around preannouncements on the trade issues ... If we don't see any sort of agreement, then we can see support for gold coming back, but in the meantime that modulation is expected to weigh on gold prices," said Michael McCarthy, chief market strategist, CMC Markets. (Reuters)

11:30 (IST)27 Jun 2019
Chemical stocks surge as specialty chemicals makers woo investors

Makers of specialty chemicals in India have become the darling of investors this year. Analysts are proving harder to please. A custom index of five stocks — Aarti Industries Ltd., Fine Organic Industries Ltd., Galaxy Surfactants, PI Industries Ltd. and SRF Ltd — has risen 30% to a record as Indian manufacturers step in to meet shortages due to shutdowns in China. In comparison, only 13 of 19 sector gauges compiled by BSE Ltd. are in the green, with an index of consumer appliances posting a year-to-date return of 25%. (Bloomberg)

Read more:  Chemical stocks surge as specialty chemicals makers woo investors

11:25 (IST)27 Jun 2019
Nifty Realty trade higher

11:11 (IST)27 Jun 2019
Dollar edges up vs yen as some pre-G20 summit jitters ease

The dollar edged up to a one-week high against the safe-haven yen on Thursday, as some of the jitters ahead of the G20 summit in Japan eased amid hopes for progress there in resolving the Sino-U.S. trade war. (Reuters)

11:05 (IST)27 Jun 2019
Adani Ports plans to raise USD 750 million

Adani Ports and Special Economic Zone Limited (APSEZ) Thursday said it plans to raise USD 750 million (approx Rs 5,195 crore) to fund its capital expenditure requirement and also to retire some of its debt. "The finance committee of Adani Ports and Special Economic Zone Ltd has approved the issuance of fixed rate senior unsecured notes aggregating to USD 750 million and has approved the pricing, tenure and other terms of the notes," APSEZ said in an exchange filing.

10:57 (IST)27 Jun 2019
Indian Rupee recovers marginally, trades lower

The Indian currency Rupee has recovered slightly from its earlier lower level.It is currently trading at 69.23 per dollar, 8 paise down fromt he previous settlement.

10:48 (IST)27 Jun 2019
Axis Bank biggest gainer

Axis Bank has gained around 2 per cent in the early morning trade on Thursday. the shares had opened marginally higher at Rs 789.35 per share on BSE.

10:30 (IST)27 Jun 2019
Major losers among Nifty50

10:08 (IST)27 Jun 2019
Sensex, Nifty trade higher, Sensex up 113 points

09:57 (IST)27 Jun 2019
HSBC India Ceo on India's growth

HSBC India CEO says 6.8 per cent of India's growth is practical. He said sentiment is better than the previous year. Huge growth opportunity for India. See an uptick in dollar bond market, he said in an interaction with CNBC TV18. 

09:42 (IST)27 Jun 2019
China agree tentative trade truce ahead of G20 summit - SCMP

The United States and China have agreed to a tentative truce in their trade dispute ahead of a meeting between leaders of the two nations at the G20 summit this weekend, the South China Morning Post reported on Thursday, citing sources.

09:37 (IST)27 Jun 2019
U.S. President Trump says India's recent tariff hike unacceptable

U.S. President Donald Trump looks forward to speaking with Indian Prime Minister Narendra Modi about a recent increase in its already high tariffs against the United States, he said on the social network Twitter on Thursday.

09:34 (IST)27 Jun 2019
All sectoral indices in green except metal and pharma

09:27 (IST)27 Jun 2019
Major gainers and losers on BSE

09:10 (IST)27 Jun 2019
Analyst call on UltraTech Cement

The acquisition of Century’s cement asset and Binani has led to UltraTech Cement or UTCEM increasing its capacity market share and take its pan-India capacity market share to 20%. The acquisition of Binani’s asset by UTCEM is attractive as it provides scope for further brownfield expansion by 4-5mt. The ramp-up of Binani’s assets and the INR740/t improvement in profitability has been attractive. The company trades at 17.7x/14x EV on FY20/21E EBITDA. We value UTCEM at 14.5x Sept' 21 EV/EBITDA and arrive at a TP of INR5,280 (implied EV/t of USD 215 on FY21 capacity), said Motilal Oswal in a report. 

09:02 (IST)27 Jun 2019
Rupee opens lower at 69.26 per dollar

The Indian currency Rupee opened lower at 69.26 per dollar against the previous close of 69.15 per dollar on Thursday.

08:52 (IST)27 Jun 2019
Should you Buy IndusInd Bank?

IndusInd Bank (IIB) has got the final approval to merge Bharat Financial Inclusion (BFIL) with itself effective 4th July 2019 and is also likely to get additional capital from the promoters. Post-merger, the promoter stake will drop to 13%, which they would like to retain at 15% by infusing capital through warrants. As per media news/scheme of arrangement, the promoters will infuse Rs 27 bn through 15.7 mn warrants (25% to be paid upfront and 75% over next 18 months) at a price of Rs 1,709 a share (premium of 17% to last closing price). We believe both these developments are positive for the stock and will be value accretive from day one. BFIL business is much more profitable than the bank along with high levels of capitalisation that will help improve both leverage and profitability. Maintain BUY. (a) CAR for the merged entity to inch up by 2%+ postmerger/ capital infusion (current CAR at 14.2%); (b) MFI business is highly profitable with 10% spread and additional capital will aid in margin expansion of 30 bps for the merged entity; (c) merger with BFIL will add granularity to IIB’s loan book and increase the share of retail loans in the bank to 48%; (d) return ratios are set to improve as capital requirements for banks are lower than NBFC-MFIs; also risk weights for microfinance are lower at 75% for banks vs. 100% for MFIs thus providing higher leverage; and (e) IIB likely to earn 1-1.5% fee income on the excess PSL generated, said Axis Capital in a report.

Read more: Analyst Corner: Maintain ‘buy’ for IndusInd Bank

08:48 (IST)27 Jun 2019
Rating agency on Edelweiss Financial Services

Rating agency Icra on Wednesday downgraded Rs 466-crore long-term non-convertible debentures (NCD) of Edelweiss Financial Services (EFSL) citing vulnerability in the company’s lending book. The rating agency has revised the ratings to AA- with a negative outlook from AA for NCDs amounting to the total of Rs 466 crore and withdrew the long-term rating of the same along with short-term rating of the Rs 100 crore short-term NCD and Rs 6,350-crore commercial paper of EFSL.

Read more: Rating agency on Edelweiss Financial Services

08:47 (IST)27 Jun 2019
NBFC crisis: Icra cuts Piramal Cap’s long-term rating to AA

Rating agency ICRA on Tuesday downgraded the long-term rating of Piramal Capital & Housing Finance (PCHFL). The agency cut ratings of non-convertible debentures, subordinated (Tier-II) bonds, long-term funds-based limits and long-term loans to AA from AA+, amounting to Rs 20,867 crore. The rating on commercial paper (CP) programme remained unchanged at A1+, amounting to Rs 9,000 crore.

Read more: NBFC crisis: Icra cuts Piramal Cap’s long-term rating to AA

08:46 (IST)27 Jun 2019
Global markets: Asian shares going nowhere as G20 summit looms large

Asian markets were busy going nowhere on Thursday as confusion shrouded the chances of any progress in the Sino-U.S. trade standoff, while bulls scaled back wagers for a drastic cut in U.S. interest rates. President Donald Trump said on Wednesday that a trade deal with Chinese President Xi Jinping was possible this weekend but warned he was prepared to impose U.S. tariffs on virtually all remaining Chinese imports if talks fail.

Read more: Global markets: Asian shares going nowhere as G20 summit looms large

08:45 (IST)27 Jun 2019
Oil prices fall as market awaits G20 summit, OPEC

Oil fell on Thursday, erasing some of the previous session’s strong gains, as traders eye the G20 summit in Japan and a meeting of OPEC and other oil producers to decide on an extension of output cuts. Brent crude futures were down 44 cents, or 0.7%, at $66.05 by 0059 GMT. U.S.

Read more : Oil prices fall as market awaits G20 summit, OPEC

08:44 (IST)27 Jun 2019
Gold steady as investors await US-China trade talks

Gold traded steady on Thursday after the previous session’s sharp fall, as investors looked forward to trade talks between Washington and Beijing later this week in Japan.

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