Share market highlights: Sensex ends 126 points higher, Nifty above 11,600; ITC, Maruti Suzuki top gainers

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Updated:Apr 12, 2019 3:36:19 pm

Share market highlights: The stock market--Sensex and Nifty--closed higher on Friday afternoon, even as India Inc's Q4 results season begins. The Sensex ended 125 points higher at 38,731, while the Nifty closed 35 points higher at 11,632.

Brokerage House, Brokerage Favourite Stocks, Stock Tips, Stock Market, Invest In Stocks, ब्रोकरेज हाउस, स्टॉक, शेयर, High Return, वोलैटिलिटी, VolatilityStock market highlights: The Sensex ended 125 points higher at 38,731, while the Nifty closed 35 points higher at 11,632. 

Stock market highlights: The stock market–Sensex and Nifty–closed higher on Friday afternoon, even as India Inc’s Q4 results season begins. The Sensex ended 125 points higher at 38,731, while the Nifty closed 35 points higher at 11,632. ITC shares closed 3.3% higher at Rs 306.20, while Maruti Suzuki shares ended the session 2.2% higher at Rs 7,332, to emerge among the biggest Sensex gainers.

Asian shares were flat and US Treasury yields pulled back on Friday as investor caution prevailed ahead of the release of first-quarter corporate earnings, although stronger US economic data helped offset some concerns about global growth. Early in the trading day, MSCI’s broadest index of Asia-Pacific shares outside Japan was barely higher, up 0.03 percent, Reuters reported. We bring to you Live updates.

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    10:07 (IST)12 Apr 2019
    Uber unveils IPO with warning it may never make a profit

    Uber Technologies Inc has 91 million users, but growth is slowing and it may never make a profit, the ride-hailing company said on Thursday in its IPO filing. The document gave the first comprehensive financial picture of the decade-old company which was started after its founders struggled to get a cab on a snowy night and has changed the way much of the world travels.

    Also read: Uber unveils IPO with warning it may never make a profit

    09:46 (IST)12 Apr 2019
    Jet Airways crisis: Aviation minister Suresh Prabhu directs review of passenger issues

    Aviation Minister Suresh Prabhu on Friday directed civil aviation secretary Pradeep Singh Kharola to review issues concerning Jet Airways, which has been operating with less than 10 planes. “Directed Secretary MoCA to review issues related to Jet Airways. Asked him to take necessary steps to minimise passenger inconvenience and ensure their safety,” Prabhu tweeted in the morning.

    Also read: Jet Airways crisis: Aviation minister Suresh Prabhu directs review of passenger issues

    09:25 (IST)12 Apr 2019
    BSE live: Sensex up 90 points, Nifty above 11,600; TCS, Infosys rise ahead of Q4 results

    The stock market--Sensex and Nifty--opened marginally higher on Friday morning, tracking global cues. The Sensex is up about 80 points to 38,684.29, while the Nifty is trading above the 11,600-mark. TCS shares are trading 1% higher at Rs 2,035.30, while Infosys shares are up 0.7% to Rs 747.75, ahead of Q3 results scheduled to be reported later today. A look at LIVE Sensex heatmap.

    09:11 (IST)12 Apr 2019
    Jet Airways cancels all international flights

    Cash-strapped Jet Airways has cancelled all international flights which were scheduled Thursday midnight onwards, sources in the airline said. The development comes in the midst of the airline grounding more than three-fourth of its 119-aircraft fleet. In what is a clear sign of the crisis deepening even as the lenders wait for April 12 for bids to come to take over the carrier, Jet on Thursday said 10 more aircraft have been grounded due to non-payment of lease rentals, taking the total number of such planes to 81.

    Also read: Jet Airways cancels all international flights

    09:11 (IST)12 Apr 2019
    Morgan Stanley’s 22 picks: HDFC Bank, ICICI Bank, others to have strong earnings in 2 years

    Global investment bank Morgan Stanley has identified 22 large Indian companies including marquee names such as HDFC Bank, ICICI Bank, Mahindra & Mahindra, among others, which are slated to report strong earnings over the next two years. The earnings of these 22 companies will improve due to less overvalued rupee, increased government spending, softer real interest rates and positive growth outlook, Morgan Stanley said.

    Also read: Morgan Stanley’s 22 picks: HDFC Bank, ICICI Bank, others to have strong earnings in 2 years

    08:56 (IST)12 Apr 2019
    Global Markets: Asian shares tread water amid mixed growth signals

    Asian shares were flat and U.S. Treasury yields pulled back on Friday as investor caution prevailed ahead of the release of first-quarter corporate earnings, although stronger U.S. economic data helped offset some concerns about global growth. Early in the trading day, MSCI’s broadest index of Asia-Pacific shares outside Japan was barely higher, up 0.03 percent. Higher Chinese iron ore prices helped Australian shares outpace regional markets, pushing Australia’s S&P/ASX 200 index up 0.7 percent. Japan’s Nikkei stock index gained 0.1 percent. The weak gains in Asian markets followed a choppy session on Wall Street that left major indexes treading water, hemmed in by anxiety ahead of corporate earnings and worries about a global economic slowdown, which capped gains from upbeat U.S. economic data.

    Also read: Global Markets: Asian shares tread water amid mixed growth signals

    08:53 (IST)12 Apr 2019
    Good news on growth front: Non-food credit grows 13.75%, deposits up 10%

    Non-food credit, or loans to individuals and companies, grew 13.75% y-o-y during the fortnight ended March 29, slower than the 14.4% y-o-y growth in the previous fortnight. During the comparable fortnight a year ago, the non-food credit growth of the scheduled commercial banks stood at 10.54%, data from the Reserve Bank of India (RBI) showed. Meanwhile, deposits in the banking system grew 10% y-o-y during the fortnight ended March 29, similar to the growth reported in the fortnight ended March 15. The bank deposit growth in the fortnight ended February 15 was at 10.2%, the highest in at least one-and-a-half years, showed RBI data. The modest increase in deposits has been a cause for concern.

    Also read: Good news on growth front: Non-food credit grows 13.75%, deposits up 10%

    08:48 (IST)12 Apr 2019
    An MSME-focused credit risk database will help both lenders and enterprises

    The micro, small, and medium enterprise (MSME) sector is estimated to comprise of over 63 million enterprises and contributes 28.8% to the GDP of the country. Most importantly, the sector employs around 111 million people, 26% of the total workforce. Yet, according to a 2018 report by TransUnion CIBIL-SIDBI, credit to MSME entities accounts for only 14% of total formal credit in India. As per the report, an additional 10% of loans go to MSME owners in their individual capacity, often against collateral of property and vehicles. 

    Also read: An MSME-focused credit risk database will help both lenders and enterprises

    08:42 (IST)12 Apr 2019
    75 BSE 500 companies can pay Rs 1.1 lakh crore more to shareholders

    A study by proxy advisory firm, Institutional Investor Advisory Services (IiAS) has identified 75 companies with large cash holdings which can return Rs 1.1 lakh crore to shareholders in the form of dividends or buybacks. Based on FY18 financial statements of the BSE 500 companies, the study has identified 75 companies that can distribute about half of their on-balance-sheet cash (including cash equivalents) to shareholders, as dividends or buybacks. The cash available for distribution approximates one year’s profit after tax for these companies.

    Also read: 75 BSE 500 companies can pay Rs 1.1 lakh crore more to shareholders

    08:41 (IST)12 Apr 2019
    Oil prices firm amid OPEC supply cuts, US sanctions on Iran and Venezuela

    Oil prices were firm on Friday, supported by ongoing supply cuts led by producer club OPEC and by U.S. sanctions on petroleum exporters Iran and Venezuela. International Brent crude oil futures were at $71.01 per barrel at 0042 GMT, up 18 cents, or 0.3 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $63.78 per barrel, up 20 cents, or 0.3 percent, from their previous settlement.

    Also read: Oil prices firm amid OPEC supply cuts, US sanctions on Iran and Venezuela

    08:41 (IST)12 Apr 2019
    Gold prices steady after steep fall, biggest daily decline in two weeks

    Gold prices steadied on Friday, having posted their biggest daily decline in two weeks in the previous session after robust U.S. economic data lifted the dollar. Spot gold was up about 0.1 percent at $1,293.19 per ounce as of 0123 GMT, after slipping more than one percent on Thursday. For the week, gold is up about 0.1 percent, on track to eke out its first weekly gain in three.

    Also read: Gold prices steady after steep fall, biggest daily decline in two weeks

    Share market on Thursday: The stock markets ended flat on Thursday, ahead of earnings season and even as polling began. The Sensex ended 22 points higher at 38,607, while the Nifty closed below the 11,600-mark. Bharti Airtel shares ended 2.2% higher at Rs 347.50, while Bajaj Auto shares closed 2% higher at Rs 2,896.90. Infosys, Vedanta shares closed up to 4% lower in the Sensex.