Share market Highlights: Sensex ends 119 points down, Nifty below 10,800; ONGC, SBI among top losers

By: |
Updated:Feb 13, 2019 5:20:12 pm

Track Share market Highlights: After opening higher, the domestic stock markets-- Sensex and Nifty-- turned choppy in the afternoon trade on Wednesday. The Sensex closed 119 points down at 36,034.11, while the Nifty closed below the 10,800-mark.

Best Stock Picks, Stock Performance, Top Gainers Stock, Invest In Stocks, Best Stocks For Invest, Stock Market, BSE, NSE, Sensex, NiftyShare market Highlights: Shares of SBI and ONGC emerged as the biggest losers in the Sensex, shedding more than 1.5% each.

Stock market Highlights: After opening higher, the domestic stock markets– Sensex and Nifty– turned choppy in the afternoon trade on Wednesday. The Sensex closed 119 points down at 36,034.11, while the Nifty closed below the 10,800-mark. Shares of SBI and ONGC emerged as the biggest losers in the Sensex, shedding more than 1.5% each.

Asian equities traded higher, after Dow snapped 4-day losing streak. The Nikkei was fast approaching high point of the day after Japan’s domestic CGPI for January grew compared to Reuters’ expectation of a decline, on sequential basis. We bring to you live updates.

Live Blog

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

16:07 (IST)13 Feb 2019
BSE Live: Sensex ends 120 points down, Nifty below 10,800; ONGC, SBI among top losers

After opening higher, the domestic stock markets-- Sensex and Nifty-- turned choppy in the afternoon trade on Wednesday. The Sensex closed 119 points down at 36,034.11, while the Nifty closed below the 10,800-mark. Shares of SBI and ONGC emerged as the biggest losers in the Sensex, shedding more than 1.5% each. A look at LIVE Sensex heatmap.

15:24 (IST)13 Feb 2019
US firms rule Indian digital space, but Chinese tech is closing in

A nation of 1.3 billion people. 450 million (35%) of them connected to the internet. Rising incomes, cheapest internet access in the world, and increasing interest from the population in going online. This makes India a formidable market for all kinds of businesses who are either digital, internet first, or want a piece of the pie. Broadly speaking, there are three major players competing for the ₹₹₹ that Indian consumers represent when it comes to their wallets, time spent on internet, or their data. These players are Indian internet companies, US based internet companies, and Chinese internet companies. We aren’t talking about VC firms here — they are investing someone else’s money and hoping that it works. We are talking about companies willing to invest their own money.

Also read: US firms rule Indian digital space, but Chinese tech is closing in

14:17 (IST)13 Feb 2019
Golden opportunity for mutual fund investors? Bharat 22 ETF opens just for 1 day tomorrow

The equity mutual fund investors looking for bargains in the market may expect a field day tomorrow. The government will launch an Additional Offering Period (AOP) of ICICI Prudential Mutual Fund managed Bharat 22 ETF (Exchange Traded Fund) on February 14, 2019. It’s an AOP only for one day and applications supported by cheques or demand drafts, Transfer requests, RTGS and NEFT will be accepted till 8 p.m. on February 14, 2019.

Also read: Golden opportunity for mutual fund investors? Bharat 22 ETF opens just for 1 day tomorrow

13:59 (IST)13 Feb 2019
Bihar Budget 2019: Education gets most spending by Nitish Kumar government

Bihar Finance Minister and Deputy Chief Minister, Sushil Modi on Tuesday presented his tenth budget of the state for the fiscal year 2019-20 in the Legislative Assembly. Sushil Modi in his speech claimed that Bihar has achieved highest growth rate among all the states and the size of this budget at Rs 2 lakh crore is nine times more than the budget of 2004-05. Energy, education and roads continue to remain in focus of the government.

Also read: Bihar Budget 2019: Education gets most spending by Nitish Kumar government

13:05 (IST)13 Feb 2019
Paytm's latest punch: Vijay Shekhar Sharma explains why cashbacks make sense

Even as we continue to see immense competition among mobile wallets with each vying for greater market share, Paytm's Vijay Shekhar Sharma says that cashbacks work to retain customers. According to Vijay Shekhar Sharma, offering cashbacks makes the "customer pull out phone and try the product once." Notably, Vijay Shekhar Sharma's response came after UTV Group founder Ronnie Screwvala tweeted that he received a Rs 75 cashback after spending Rs 210 for a ice-cream. "At the airport and paying a single scoop of ice cream for Rs 210.  BUT if I pay with PayTM I get Rs 75/- Back !!!! Mad mad when will this funding revenues with cash back and discounts and paying out of Equity money end," asked Screwvala tagging Paytm in the post.

12:58 (IST)13 Feb 2019
Invest in defensive stocks: HEM Securities

"In such a scenario it is better to sit on cash or invest in defensive spaces like FMCG, Consumer Discretionary , high quality private sector bank with focus on corporate lending & well established capital goods manufacturing companies (in hope of pick up in private capex as capacity utilisation in most of the companies has reached to its optimum level ) with strong order book," Astha Jain, Senior Analyst, HEM Securities told in a note to FE Online.

12:53 (IST)13 Feb 2019
Will Narendra Modi’s pension scheme kill or complement Atal Pension Yojana?

Pradhan Mantri Shram Yogi Maandhan (PMSYM), a new pension scheme announced by Finance Minister Piyush Goyal in Budget 2019, has raised concerns about the existence and continuity of the Atal Pension Yojana (APY), which was launched in 2015 targeting the same population. The new scheme PMSYM is available to all unorganised sector workers up to 40 years of age and is envisaged to become the world’s biggest scheme for the unorganised sector in coming five years. It has been launched as a tribute to the 42 crore workers in the unorganised sector, who contribute to around half of the India’s GDP and constitute 85 per cent of the total workforce in the country.

Also read: Will Narendra Modi’s pension scheme kill or complement Atal Pension Yojana?

11:46 (IST)13 Feb 2019
BSE Live: Sensex off highs, Nifty near 10,850; HDFC, Tata Motors shares up

After opening higher, the domestic stock markets-- Sensex and Nifty-- have pared gains. The Sensex is up about 86 points to 36,240.01, while the Nifty is trading near the 10,850-mark. HDFC, Tata Motors shares are trading more than 1% higher in the morning trade. Sun Pharma shares gained by more than 4.2% to hit Rs 455 in the early trade, after the margin adjusted for gains came in at 23.7% as compared to 21.84% on-year. ITC shares are trading more than 3% higher at Rs 283.90 this morning. A look at LIVE Sensex heatmap.

10:37 (IST)13 Feb 2019
Dish TV share price plunges 12% after disclosure by Zee Entertainment

Shares of Dish TV tumbled in trade on Wednesday morning, after a disclosure by Subhash Chandra-backed Zee Entertainment. Dish TV shares plunged by more than 13% to hit the day's low at Rs 29.35. Zee Entertaiment promoter has sold 8.3 lakh shares in open market from February 5-7. Last week, DishTV reported a consolidated net profit of Rs 152.69 crore for the December 2018 quarter.  The company, whose board on Tuesday approved an investment of up to Rs 3,000 crore in its wholly owned subsidiary Dish Infra Services Private Ltd, had posted a net loss of Rs 168.29 crore in the year-ago quarter, DishTV said in a BSE filing on Tuesday.

10:28 (IST)13 Feb 2019
Rupee gains 26 paise against US dollar in opening trade

The rupee appreciated by another 26 paise to 70.44 against the US dollar in opening trade Wednesday after retail inflation fell to a 19-month low of 2.05 per cent in January. The weakness in the dollar against some currencies overseas as investors shifted their focus to riskier asset amid the US-China trade truce hopes, also supported the rupee's upmove. Besides, retail inflation falling to a 19-month low of 2.05 per cent in January over the previous month, and selling of the American currency by exporters supported the rupee, forex dealers said. Industrial output growth remained subdued at 2.4 per cent in December 2018 on account of contraction in the mining segment and poor show by the manufacturing sector. (PTI reported)

10:07 (IST)13 Feb 2019
NPS annuity is not going away anytime soon: PFRDA Chairman EXCLUSIVE

While PFRDA has worked to promote its flagship National Pension Scheme since its inception in 2009, Hemant G Contractor, Chairman, Pension Fund Regulatory Development Authority, says that there are still miles to go as the NPS subscriber base is yet miles away from the desired number. Contractor attributes this to the lack of financial awareness among people while stressing the need to have a pension plan considering growing life expectancy. In a recent interview with Financial Express Online, Hemant Contractor spoke about various issues ailing the smooth growth of the National Pension Scheme. He discusses PFRDA’s future plans and challenges. He also answers why the annuity component in the withdrawal of NPS corpus may not be going away any sooner.

Also read: NPS annuity is not going away anytime soon: PFRDA Chairman EXCLUSIVE

09:29 (IST)13 Feb 2019
BSE Live: Sensex up 200 points, Nifty near 10,900; Sun Pharma, ITC shares rally

The domestic stock markets-- Sensex and Nifty-- opened higher on Wednesday morning, tracking positive global cues. The Sensex is up about 200 points to 36,354.07, while the Nifty is trading near the 10,900-mark. Sun Pharma shares gained by more than 4.2% to hit Rs 455 in the early trade, after the margin adjusted for gains came in at 23.7% as compared to 21.84% on-year. ITC shares are trading more than 3% higher at Rs 283.90 this morning. A look at LIVE Sensex heatmap.

09:16 (IST)13 Feb 2019
Every $10 per barrel rise in crude oil price increases India’s inflation by this much

Prime Minister Narendra Modi’s call to producers for responsible pricing of crude oil this week is not without its merits. Crude oil, which fueled the growth of industrial revolution 2.0, is still one of the crucial factor in determining India’s growth. Crude oil makes up for around 25 percent of India’s total imports in a year, which fulfils 80 percent of the country’s energy requirements. A $10 per barrel rise in crude oil prices would increase inflation by roughly 49 basis points, or it would increase the fiscal deficit by 43 bps (as a percentage of GDP) if the government decides to absorb the entire crude oil price shock rather than passing it to the end users, a recent study by the Reserve Bank of India said.

Also read: Every $10 per barrel rise in crude oil price increases India’s inflation by this much

09:15 (IST)13 Feb 2019
I-T assessment error caused loss of Rs 6,000 cr in real estate taxes, reveals CAG report

In its report tabled in Parliament on Tuesday, the Comptroller and Auditor General (CAG) found that the income tax department (ITD) caused a loss of Rs 6,093 crore to the exchequer due to 1,183 mistakes made in assessing the income-tax returns (ITRs) of real estate companies between financial years 2013-14 and 2016-17. The CAG scrutinised only 22% of the 78,647 assessments made during this period, and said ITD needed to internally audit the remaining assessments to pin down reasons for errors. Further, CAG found that out of 923 real estate transactions involving more than Rs 1 crore, ITD failed to bring 142 transactions into the tax net.

Also read: I-T assessment error caused loss of Rs 6,000 cr in real estate taxes, reveals CAG report

09:14 (IST)13 Feb 2019
CPI inflation at 19-month low on falling food prices, IIP growth recovers

Retail inflation hits a 19-month trough of 2.05% in January, as a deflation in food articles persisted and price pressure in fuel eased, showed the data released by the Central Statistics Organisation on Tuesday. Industrial output growth touched 2.4% in December 2018, having recovered from a 17-month trough of 0.3% (revised) hit in the previous month. However, industrial growth still trails the average rise of 4.6% witnessed in the April-December period, and is expected to remain subdued, at least until February, due to an unfavourable base effect.

Also read: CPI inflation at 19-month low on falling food prices, IIP growth recovers

09:13 (IST)13 Feb 2019
Global markets: Asian stocks lifted by US-China trade talk hopes

Asian stocks pulled ahead and safe-haven government bonds came under further pressure on Wednesday on optimism the United States and China might be able to hammer out a deal to resolve their nearly year-long trade dispute. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.2 percent. South Korea’s KOSPI gained 0.5 percent and Japan’s Nikkei climbed 1 percent. Asia took its cue from Wall Street, where the Dow and Nasdaq each rallied about 1.5 percent overnight on optimism over U.S.-China trade negotiations and a tentative U.S. congressional spending deal to avert another partial government shutdown. U.S. President Donald Trump said on Tuesday that he could see letting the March 1 deadline for reaching a trade agreement with China slide a little if the two sides were close to a complete deal.

Also read: Global markets: Asian stocks lifted by US-China trade talk hopes

09:12 (IST)13 Feb 2019
Oil prices rise 1 percent amid OPEC supply cuts, US sanctions on Venezuela’s oil exports

Oil prices rose by around 1 percent on Wednesday as producer club OPEC said it had deeply cut supply in January and as U.S. sanctions hit Venezuela’s oil exports. U.S. West Texas Intermediate (WTI) crude oil futures were at $53.64 per barrel at 0138 GMT, up 54 cents, or 1 percent, from their last close. International Brent crude futures were up 0.9 percent, or 53 cents, at $62.95 per barrel. Jeffrey Halley, senior market analyst at futures brokerage OANDA in Singapore said oil prices were boosted after “Saudi Arabia announced it was cutting daily production and exports by a further 500,000 barrels per day (bpd) on top of its agreed OPEC quota cut”.

Also read: Oil prices rise 1 percent amid OPEC supply cuts, US sanctions on Venezuela’s oil exports

Share market on Tuesday: The domestic stock markets– Sensex and Nifty– extended losses in the afternoon trade on Tuesday, tracking weak global cues. The Sensex closed 241 points down to 36,153.62, while the Nifty ended 57 points lower at 10,831.40. Zee Entertainment, JSW Steel shares jumped as much as 4% each to emerge among the top gainers in the Nifty.
Switch to Hindi Edition