Share market highlights: Sensex, Nifty end in deep red after hitting record high; Tata Motors top loser

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Updated:May 21, 2019 3:56:41 pm

Share market highlights: After soaring to a fresh record high on Tuesday morning following Narendra Modi's exit poll win, the Sensex and Nifty ended the session in deep red. The Sensex closed 382 points down at 38,969.80.

The number of securities that hit the upper circuit limit was 115, while 119 scrips touched their respective lower circuits, according to BSE. (File photo)The Sensex hit a new record high of 39,571.13, while the Nifty soared to a new high of 11,883.55 on Tuesday.

Share market highlights: After soaring to a fresh record high on Tuesday morning following Narendra Modi’s exit poll win, the Sensex and Nifty ended the session in deep red. The Sensex closed 382 points down at 38,969.80, while the Nifty closed 119 points down at 11,709.10. Tata Motors share price plunged by more than 6.7% to close at Rs 177.30, while IndusInd Bank shares closed down by more than 3.3% to Rs 1,443, to emerge among the biggest Sensex losers.

Earlier, continuing its robust gain from Monday, the Sensex and Nifty swelled to a new record high of 39,571.13, while the Nifty soared to a new high of 11,883.55. Asian shares wobbled near four-month lows on Tuesday on mounting worries the White House’s black-listing of Chinese telecom giant Huawei Technologies could further inflame already tense relations between Washington and Beijing. MSCI’s broadest index of Asia-Pacific shares outside Japan was flat in early trade but stayed close to a four-month low touched on Friday. It has fallen about 8% from a nine-month peak hit just over a month ago. Japan’s Nikkei fell 0.5%, Reuters reported.

Live Blog

15:46 (IST)21 May 2019
BSE live: Sensex, Nifty end in deep red after hitting record high; Tata Motors top loser

After soaring to a fresh record high on Tuesday morning following Narendra Modi's exit poll win, the Sensex and Nifty ended the session in deep red. The Sensex closed 382 points down at 38,969.80, while the Nifty closed 119 points down at 11,709.10. Tata Motors share price plunged by more than 6.7% to close at Rs 177.30, while IndusInd Bank shares closed down by more than 3.3% to Rs 1,443, to emerge among the biggest Sensex losers. A look at live Sensex heatmap.

14:57 (IST)21 May 2019
BSE live: Sensex down 400 points, Nifty nears 11,700

The stock markets extended decline in the last hour of the trade on Tuesday afternoon, receding from fresh highs hit in the morning. The Sensex is down about 420 points to 38,982.83, while the Nifty is trading near the 11,700-mark. Tata Motors, Bharti Airtel, M&M shares are down up to 8%, emerging among the biggest losers in the Sensex this afternoon. A look at live Sensex heatmap. 

14:44 (IST)21 May 2019
Mukesh Ambani among most trusted Indians, but these businessmen outrank RIL boss

Reliance Industries Chairman Mukesh Ambani, the richest man in India and Asia, is one of the most trusted personalities in India. However, he is outranked by other business magnates such as Microsoft’s Bill Gates, Disney’s Walt Disney and Tata group’s Ratan Tata, says a research report. Tata group’s chairman Ratan Tata is the most trusted personality in the business category in India, followed by Bill Gates and Walt Disney, according to TRA Research’s findings.

Also read: Mukesh Ambani among most trusted Indians, but these businessmen outrank RIL boss

13:57 (IST)21 May 2019
BSE live: Sensex, Nifty remain choppy after touching record levels

The Sensex and Nifty continue to trade in deep red on Tuesday afternoon, after soaring to fresh highs in the morning. The Sensex is down about 181 points to 39,170.83, while the Nifty is trading 63 points down at 11,766. Tata Motors, Tata Steel and IndusInd Bank are the biggest losers in the Sensex, tanking uo to 6%. Tata Motors shares are trading 7% down at Rs 176.50, after the firm cut its guidance for the upcoming fiscal year. A look at LIVE Sensex heatmap.

13:36 (IST)21 May 2019
Sensex, Nifty are going deeper and deeper into the red

Investors seem to be pulling out some gains on Tuesday afternoon, with both the Sensex and the Nifty benchmark indices slipping deeper into the red. BSE Sensex is down more than 230 points from the previous close, while the Nifty has fallen about 75 points on Tuesday afternoon.

13:02 (IST)21 May 2019
Rakesh Jhunjhunwala says Modi's NDA could win 300 seats, but don't expect 2014-like returns in stock market

After the Sensex and Nifty soared to fresh record highs following exit polls indicating an easy victory for PM Narendra Modi, stock market veteran Rakesh Jhunjhunwala said that the NDA could win up to 300 seats. The ace investor said that after seeing the range in the exit polls, the BJP could get 250 seats, and the allies could get another 50, so in all, would be 300 seats for the NDA, plus or minus 10. Sharing his view on the direction of the stock market going forward, Rakesh Jhunjhunwala said that if NDA gets a clear majority, 10,750 to 11,000 would be the bottom for stock markets. 

Also read: Rakesh Jhunjhunwala says Modi's NDA could win 300 seats, but don't expect 2014-like returns in stock market

12:32 (IST)21 May 2019
Mid-cap stocks may be headed to revival of fortunes as Modi shines in exit polls

A battered corner of India’s $2.1 trillion stock market — mid-cap shares — may be ready to shine after exit polls in India signalled a second term for Prime Minister Narendra Modi. While the benchmark Nifty 50 Index rallied 3.7% to a fresh peak, the Nifty MidCap 100 Index advanced 4.1% as the strength of the projected victory boosted the broader market. The outperformance may continue if Modi does indeed emerge victorious, analysts say.

Also read: Mid-cap stocks may be headed to revival of fortunes as Modi shines in exit polls

11:41 (IST)21 May 2019
Amul’s milk price hike was 2 years in making; MD Sodhi explains why milk has to get costlier

Amul, India’s forerunner in the dairy industry, has increased milk prices by Rs 2 per litre, stating that the cooperative has farmer interest in mind. As the milk prices have been stable for two years, the price increase was impending for long now. The same was hinted at by Amul MD RS Sodhi earlier this month, who had said that the farmers were not incentivised to produce more since last two years while the milk production costs have been high. While farmers were getting Rs 28 per litre for cow milk in 2014-15, these prices were hit by recession and the raw milk prices declined to Rs 18 in 2015-16, RS Sodhi said on 7 May 2019.

Also read: Amul’s milk price hike was 2 years in making; MD Sodhi explains why milk has to get costlier

11:24 (IST)21 May 2019
HDFC twins, Axis Bank, Kotak Mahindra Bank at lifetime high levels today

Continuing their robust gains from yesterday, private sector lenders Axis Bank, HDFC Bank, Kotak Mahindra Bank are at fresh record high levels on Tuesday. HDFC Bank shares hit a fresh record high of Rs 2,449.45, while HDFC shares gained nearly 3% to hit a fresh record high of Rs 2,178 on BSE. Axis Bank gained as much as 1.15% to hit a new peak of Rs 791.80. Kotak Mahindra Bank shares gained about 0.5% to touch thier record level of Rs 1,511.25. 

11:03 (IST)21 May 2019
Amazon to soon have its own presence on Internet with ‘.amazon’ domain

E-commerce giant Amazon was on its way to running its own online neighbourhood Monday after the internet’s address keeper granted the “.amazon” domain to the company. After waiting in vain for years for the US online retail colossus and an alliance of South American countries to resolve their battle over the right to web addresses ending with “.amazon,” the Internet Corporation for Assigned Names and Numbers (ICANN) this month sided with the Seattle-based company. In 2012, Amazon applied for “.amazon” and two internationalized versions of the name. Brazil and several other countries put the US company on notice that they were opposed to the idea.

Also read: Amazon to soon have its own presence on Internet with ‘.amazon’ domain

10:46 (IST)21 May 2019
Stock markets may not return 30% in 2019, says Rakesh Jhunjhunwala

Following the exit polls predicting an easy win for the Narendra Modi-led government, stock market veteran Rakesh Jhunjhunwala said that he expects the final tally to be around 300 (including the allies) plus or minus 10. Taking stock of the ongoing rally, the ace investor noted that Nifty has made a bottom at 11,000. "The stock markets have already priced in some kind of dispute between US- China. I think Nifty made a bottom at about 11,000. How high will it go, how long will it take, that only posterity can tell. We can know the direction, and an approximate high or bottom, we cannot predict other things. I don’t think the market will return 30% this year. But, markets are going to be good,"  ace investor Rakesh Jhunjhunwala said in an interview to CNBC TV18.

10:26 (IST)21 May 2019
Stock corner: Maintain ‘sell’ rating on Endurance Technologies – Kotak Institutional Equities

Endurance Technologies reported consolidated EBITDA of `320 crore (+26% yoy) in 4QFY19, 18% above our estimatesmainly due to sharp improvement in gross margins and government incentives. We maintain ‘sell’ rating as we believe near-term opportunities arising from stricter safety norms in India are already priced in. Revise fair value to `900 (from `925) on expensive valuations. Endurance Technologies reported consolidated EBITDA of Rs 320 crore (+26% yoy) in 4QFY19, which was 18% above our estimates, led by (1) sharp improvement in gross margins due to a decline in commodity prices, (2) market share gains in India and Europe and (3) government incentives.

Also read: Stock corner: Maintain ‘sell’ rating on Endurance Technologies – Kotak Institutional Equities

10:16 (IST)21 May 2019
Dollar near 2-1/2-week peak on higher yields, trade tensions; Aussie slips

The dollar was steady near a 2-1/2-week high on Tuesday, supported by higher U.S.-yields and its safe-haven status, with growing worries that the U.S.-China trade war could worsen following Washington’s crackdown on China’s Huawei Technologies. The dollar index against a basket of six major currencies was a shade higher at 97.965 after brushing 98.036 overnight, its highest since May 3. Global equities have taken a hit this week, with share prices in chipmakers falling in the wake of the U.S. moves against Huawei.

Also read: Dollar near 2-1/2-week peak on higher yields, trade tensions; Aussie slips

10:00 (IST)21 May 2019
Rupee opens flat at 69.74 per dollar against the previous close of 69.73

The Indian rupee opened flat at 69.74 per dollar on Tuesday morning against the previous close of 69.73. Yesterday, it opened higher after the exit polls predicted victory for Modi-led Bharatiya Janata Party (BJP) in Lok Sabha elections 2019 with a vast majority. The final results will be announced this week on Thursday. According to market experts, the market gains would be kept in check ahead of election results on Thursday. The global tensions between the US and China, geopolitical tensions in the Middle East  and foreign investment flows will also steer the rupee apart from election results.

Also read: Rupee opens flat at 69.74 per dollar against the previous close of 69.73

09:36 (IST)21 May 2019
Worry over slippages: Private banks’ provisions rise 13% in FY19

Banks may be apprehending larger slippages in the quarters ahead, with provisions made by a clutch of private sector banks during FY19 rising nearly 13% year-on-year (y-o-y), even as the value of gross non-performing assets (NPAs) remained nearly flat at the end of March 2019. The value of provisions made by the 16 private sector banks that have so far reported their March quarter results stood at Rs 54,447 crore in FY19, up from Rs 48,298 crore in FY18, show data compiled by FE. On the other hand, gross NPAs at the same set of banks inched up only 0.7% between March 2018 and March 2019 to Rs 1.25 lakh crore.

Also read: Worry over slippages: Private banks’ provisions rise 13% in FY19

09:30 (IST)21 May 2019
Nifty surpasses previous high hit on April 18

Continuing its robust gains from yesterday, the Nifty zoomed past its previous record high of 11,856.15 hit on April 18th. The 50-share index has now scaled a fresh peak of 11,883.55. In case of Sensex, the fresh peak stands at 39,571.73. Currently, the indices have retreated mildly from peaks, and the Sensex is trading 135 points higher at 39,487.23, while the Nifty is trading at 36 points higher at 11,864.30. A look at top 5 Nifty gainers and losers. 

09:21 (IST)21 May 2019
BSE live: Sensex, Nifty hit fresh record high on Modi's exit poll win; HDFC, RIL top gainers

 After registering their best ever day in 10 years yesterday, the Sensex and Nifty scaled fresh record highs on Tuesday even as investors remain upbeat following Narendra Modi's exit poll. The Sensex hit a new record high of 39,512.59, while the Nifty soared to a new high of 11,866.90. HDFC, RIL were top gainers jumping up to 3%. Yesterday, the Sensex ended 1,421.90 points higher at 39,352.67, while the Nifty closed 421.10 points higher at 11,828.25, both at their respective closing highs. Notably, the Sensex is just 135 points away from hitting its highest ever mark, while the Nifty is about 28 points away from its highest ever mark of 11,856.15. A look at LIVE Sensex heatmap.

09:07 (IST)21 May 2019
Oil rises on escalating US-Iran tensions; trade war concerns weigh

Oil prices edged up on Tuesday on escalating tensions between the United States and Iran and on signs that producer club OPEC will continue withholding supply this year. However, gains were checked by concerns that a prolonged Sino-U.S. trade war could lead to a global economic slowdown. Brent crude futures, the international benchmark for oil prices, were at $72.03 per barrel at 0118 GMT, up 6 cents, or 0.1 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were up by 12 cents, or 0.2 percent, at $63.22 per barrel. Prices were driven up by rising tensions between the United States and Iran.

Also read: Oil rises on escalating US-Iran tensions; trade war concerns weigh

09:06 (IST)21 May 2019
Gold eases as dollar steals safe-haven thunder

Gold eased on Tuesday after touching a more than two-week low in the previous session, as a strong dollar diminished bullion’s safe-haven appeal amid heightening Sino-U.S. trade tensions. Spot gold edged 0.1% lower to $1,276.02 per ounce at 0106 GMT.  U.S. gold futures also eased 0.1% to $1,276.10 an ounce.  The dollar held near a 2-1/2-week high on Tuesday, supported by higher U.S.-yields and as intensifying trade frictions between the United States and China boosted appetite for the safe-haven greenback.

Also read: Gold eases as dollar steals safe-haven thunder

09:05 (IST)21 May 2019
Huawei founder Ren Zhengfei says US underestimates company

Huawei founder Ren Zhengfei struck a defiant tone Tuesday against American attempts to block his company’s global ambitions, saying the US “underestimates” the telecom giant’s strength. Ren spoke to Chinese state media days after President Donald Trump issued orders aimed at thwarting Huawei’s business in the United States, the latest salvo in a months-long effort to stop the company’s charge to the top of the leaderboard in next-generation 5G technology.

Also read: Huawei founder Ren Zhengfei says US underestimates company

08:55 (IST)21 May 2019
US companies are looking for transparency and consistency in policy framework: Experts

Exploring the possibility of developing India as an alternative in the midst of a US-China trade war, the American corporate sector eagerly looks forward to the election results and hopes that the new government adopts a “consultative process” in framing policies, experts say. “US companies are looking for transparency and consistency in policy framework. They would appreciate a consultative process (in) framing policies,” Mukesh Aghi, president of the US-India Strategic and Partnership Forum told PTI, ahead of the declaration of the election results on May 23.

Also read: US companies are looking for transparency and consistency in policy framework: Experts

08:50 (IST)21 May 2019
Recap: Ten blue chip heavyweight stocks which hit their 52-week high today; check details

After the exit poll results indicated Bharatiya Janata Party’s victory in the Lok Sabha Elections with a thumping majority, the Indian headline indices- Sensex and Nifty surged more than 1400 points and 400 points respectively on Monday. Both of the indices opened higher in the morning ahead of vote counting scheduled on Thursday this week. We take a look at a top ten blue chip stocks which hit their 52-week high today. Most of the banking stocks hit their 52-week high in Monday’s trading session. State Bank of India, ICICI Bank, Kotak Bank and HDFC Bank touched their year’s peak  on NSE. The other stocks which saw a massive and hit their 52-week high are Adani Ports, Larsen & Toubro, HDFC, UltraTech Cement, Titan and Bajaj Finance.

Also read: Ten blue chip heavyweight stocks which hit their 52-week high today; check details

08:50 (IST)21 May 2019
Nifty Bank posts biggest gain in history; Kotak Mahindra, ICICI, HDFC Bank hit record highs

Following exit polls predicting an easy win for Narendra Modi’s BJP, Sensex and Nifty posted their biggest intra-day gain in 10 years, while Nifty Bank index saw its biggest jump in history. Notably, Nifty Bank Index soared more than 1,230-points to hit its life-time high of 30,779.90. Notably, a robust rally in the shares of private sector lenders ICICI Bank, HDFC Bank, Kotak Mahindra Bank, IDFC helped the index to achieve this feat. State-run lender SBI spurted more than 7.75% to hit a fresh high of Rs 345.80. ICICI Bank (5.04%) , Federal Bank (4.67%), Axis Bank (4.14%),  RBL (4.09%) , Kotak Mahindra Bank  (2.45%) were among the stock which soared to a fresh 52-week high on Monday.

Also read: Nifty Bank posts biggest gain in history; Kotak Mahindra, ICICI, HDFC Bank hit record highs

08:49 (IST)21 May 2019
Missed out on Monday's Sensex, Nifty rally; should you wait or put in money now in share market?

After the Indian stock market spurted on Monday morning following exit polls predicting an easy victory for the Narendra Modi-led government, experts say that the rally is likely to continue if the actual numbers on May 23rd come as expected. Notably, the 30-share Sensex zoomed 1,134 points to hit the day’s high at 39,064.23, while the Nifty raced to hit the 11,700-mark. Among the indices, Nifty Bank index surged over 1,000 points the most since May 2009. Notably, shares of banking majors ICICI Bank, HDFC Bank and Kotak MahindraBank surged to fresh record high, surging up to 6 per cent.

Also read: Missed out on today’s Sensex, Nifty rally; should you wait or put in money now in share market?

08:48 (IST)21 May 2019
Sensex, Nifty see best day in 10 years on Modi’s exit poll win, Nifty Bank hits record; key things to know

The Sensex and Nifty posted their biggest intra-day gains in 10 years on Monday, after exit polls indicated an easy win for current PM Narendra Modi. The Sensex ended 1,421.90 points higher at 39,352.67, while the Nifty closed 421.10 points higher at 11,828.25, both at their respective closing highs. Notably, the Sensex is just 135 points away from hitting its highest ever mark, while the Nifty is about 28 points away from its highest ever mark of 11,856.15. Notably, Nifty Bank index saw its best ever day in history, surging more than 1,310 points to 30,759.70.

Also read: Sensex, Nifty see best day in 10 years on Modi’s exit poll win, Nifty Bank hits record; key things to know

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