Share market highlights: Sensex closes at record high; Nifty ends near 11,800; IndusInd Bank, ICICI Bank surge

By: | Updated:Apr 16, 2019 3:50 pm

Share market highlights: Sensex and Nifty surged to record highs on Tuesday on the back of robust monsoon, earnings forecast. The Sensex closed about 370 points higher to hit a new closing high of 39,276, while Nifty moved to its highest close of 11, 787.15.

The BSE Sensex can be tracked for specific months before and after the elections to ascertain any such patterns. (Representational image)Share market highlights: After hitting a fresh all-time high of 39,364, the Sensex closed about 370 points higher to hit a new closing high of 39,276.

Share market highlights: Sensex and Nifty surged to fresh record highs on Tuesday on the back of robust monsoon outlook, earnings forecast, and positive trade data. After hitting a fresh all-time high of 39,364, the Sensex closed about 370 points higher to hit a new closing high of 39,276. The Nifty surged to a fresh record high of 11,810.95, and ended at its highest ever close of 11,787.15. IndusInd Bank, ICICI Bank shares emerged as top gainers, jumping nearly 4% each on Tuesday afternoon.

Asian stocks hovered below a nine-month peak on Tuesday after disappointing bank earnings dented Wall Street, though recent signs the global economy is likely to avoid a sharper downturn helped limit the losses. MSCI’s broadest index of Asia-Pacific shares outside Japan stood little changed. We bring to you live updates.

Live Blog

15:50 (IST)16 Apr 2019
BSE live: Sensex, Nifty near 11,800; IndusInd Bank, ICICI Bank surge

Sensex and Nifty surged to fresh record highs on Tuesday on the back of robust monsoon outlook, earnings forecast, and positive trade data. After hitting a fresh all-time high of 39,364, the Sensex closed about 370 points higher to hit a new closing high of 39,276. The Nifty surged to a fresh record high of 11,810.95, and ended at its highest ever close of 11,787.15. A look at LIVE Sensex heatmap. 

14:15 (IST)16 Apr 2019
BSE live: Nifty hits 11,800 for first time ever; Sensex hits fresh high

After reclaiming record highs, Sensex and Nifty extended gains in the afternoon trade on Tuesday. The Sensex hit a fresh high of 39,337, up 420 points, while the Nifty hit the 11,800-mark for the first time ever. IndusInd Bank shares are trading 3.7% higher at Rs 1,811.40, while ICICI Bank shares are up 3.63% to Rs 407. Jet Airways shares are trading 13% down at Rs 228 on BSE. A look at LIVE Sensex heatmap.

13:16 (IST)16 Apr 2019
BSE LIVE: Sensex extends gains to fresh highs, Nifty near 11,800; IndusInd Bank, ICICI Bank jump

After reclaiming record highs, Sensex and Nifty extended gains in the afternoon trade on Tuesday. The Sensex hit a fresh high of 39,297, up 380 points, while the Nifty is nearing the 11,800-mark. IndusInd Bank shares are trading 3.3% higher at Rs 1,805, while ICICI Bank shares are up 3.3% to Rs 405.45.  A look at LIVE Sensex heatmap.

13:07 (IST)16 Apr 2019
Jet Airways share price slumps 10% amid reports that firm has decided to shut operations temporarily

Shares of India's major private sector airline Jet Airways slumped in the afternoon trade on Tuesday, after reports that that the firm may temporarily halt operations. Jet Airways shares are trading 9.7% lower at Rs 235 on BSE. According to media reports, Naresh Goyal is not eligible to bid for the airline. Jet Airways is running out of fuel to fly its planes, literally, adding to the woes of cash-strapped airline which is reportedly staring at shutdown in the absence of funds. Jet Airways has only enough fuel supply to last till today afternoon, IANS reported citing sources. “The fuel supply is expected to run out from Tuesday afternoon as fresh payments would be required for vendors,” the report said quoting a source.   

10:50 (IST)16 Apr 2019
Share market LIVE: Sensex, Nifty hit fresh record highs; ICICI Bank, L&T top gainers

After opening higher, Sensex and Nifty extended gains in the morning trade on Tuesday, to hit new record highs. The Sensex zoomed 372 points to 39,278 points, while the Nifty is trading at 11,782. ICICI Bank shares are trading 3% higher at Rs 405, while L&T shares are up 2% to Rs 1,386.15. Tata Motors shares are trading 1.3% lower at Rs 228.25. A look at LIVE Sensex heatmap.

10:28 (IST)16 Apr 2019
What is driving the market today: IMD forecast, trade data and other key things to watch out for

After opening higher, Sensex and Nifty extended gains in the morning trade on Tuesday, tracking positive global cues. The Sensex is up 265 points to 39,171.20, while the Nifty is back at record high of 11,761. IMD forecast, trade data are among the factors driving the markets today.  India Meteorological Department expects India to receive near-normal monsoon rains in 2019, it said on Monday in its forecast on south-west monsoon.   It said that El-Nino conditions would weaken after summers. The IMD doesn’t expect any adverse effect on monsoon due to EI-Nino.

Also read: What is driving the market today: IMD forecast, trade data and other key things to watch out for

10:10 (IST)16 Apr 2019
Stellar debut for Polycab as shares list at 18% premium; should you buy, sell or hold?

Shares of wires and cables major Polycab made a stellar debut on the exchanges on Tuesday, after its IPO had seen a massive response. Polycab shares listed at Rs 633, implying a premium of 18% from its issue price of Rs 538. Earlier, Polycab India’s IPO saw a stellar response on the last day of bidding, and closed on April 9 with a massive 51 times oversubscription, mainly due to heavy bidding by institutional investors and HNIs. 

09:29 (IST)16 Apr 2019
BSE live: Sensex up 200 points, Nifty nears 11,750; ICICI Bank, Coal India top gainers

The stock markets-- Sensex and Nifty--opened higher on Tuesday morning, tracking positive global cues. The Sensex is up 202 points to 39,108, while the Nifty is nearing the 11,750-mark. ICICI Bank shares are trading 2.5% higher at Rs 402.45, while VEDL shares are up 2% to Rs 188.70 on BSE. Tata Motors, Infosys shares are trading 1% lower each in the morning trade on Tuesday. A look at LIVE Sensex heatmap.

09:11 (IST)16 Apr 2019
Your money: Room for another 25 bps rate cut in first half of FY20

Even as Consumer Price Index-based inflation (CPI) firms up, near-flat Index of Industrial Production (IIP) growth continues to underscore the cyclical slowdown. CPI inflation continues to remain comfortably below the RBI’s target of 4% and thus we continue to see room for another 25 basis points (bps) rate cut in the first half of FY20. We assign a higher probability of a rate cut in August as uncertainties surrounding the outcome of election, monsoon and Union Budget would have partly abated by then.

Also read: Your money: Room for another 25 bps rate cut in first half of FY20

09:10 (IST)16 Apr 2019
Retail sector may see moderate growth in Q4

With a limited end-of-season sales (EOSS) period during the three months ended March 2019, the retail sector will see a moderate growth. Revenue, earnings before interest, tax, depreciation and amortisation (Ebitda) and the profit after tax (PAT) for Q4FY19 is estimated to grow by 17%, 17.7% and 11.8% year-on-year, respectively, analysts from Edelweiss said. However, new store additions remained strong during the March 2019 quarter. The retail sector recorded revenue growth of 23.1% y-o-y, Ebitda at 21.5% and PAT at 22% during three months ended December 2018 due to the shift in the festive season from September to October and the early onset of the EOSS in December.

Also read: Retail sector may see moderate growth in Q4

08:55 (IST)16 Apr 2019
Delay in repayment by 2 Essel firms: HDFC AMC gets nod to roll over FMPs

HDFC Asset Management Company (AMC) has received the approval of over 90% of the investors to roll over the fixed maturity plans (FMPs), which have seen a delay in repayments by two Essel Group companies. The HDFC Fixed Maturity Plan – 1168 Days – February 2016 (1) which matured on Monday has been extended by over a year to April 29, 2020. According to disclosures as on March 2019, HDFC Fixed Maturity Plan – 1168 Days – February 2016 (1) had invested around Rs 66.49 crore in Edisons Infrapower & Multiventures and Spirit Infrapower & Multiventures. The total assets of the scheme as on March 2019 stood at approximately `338.60 crore.

Also read: Delay in repayment by 2 Essel firms: HDFC AMC gets nod to roll over FMPs

08:54 (IST)16 Apr 2019
Jet Airways crisis: Airline fails to raise funds, extends cancellation of international ops

Cash-strapped Jet Airways is staring at a closure after the airline on Monday failed to find financial support from lenders. Chief operating officer Vinay Dube said lenders headed by State Bank of India (SBI) were yet to commit interim working capital. The full-service carrier operated just 6-7 planes of its fleet of 119 aircraft on Monday. Civil aviation rules in India require an airline to operate a minimum of five aircraft to keep its operating permit valid. “As you are aware, we have been working with the lenders to secure interim funding for our operations. The interim funding has not been forthcoming thus far,” Dube said in a letter to employees.

Also read: Jet Airways crisis: Airline fails to raise funds, extends cancellation of international ops

08:43 (IST)16 Apr 2019
Vodafone Idea to leverage asset base to boost revenue per user

Unsure of when the telecom industry will see the return of rational pricing, Vodafone Idea will leverage its asset base to improve market penetration and drive up the average revenue per user (ARPU), CEO Balesh Sharma said on Monday. Sharma added the telco would partner content providers to help push up revenues. The country’s largest telco, with 387 million subscribers, has launched a `35 minimum recharge plan to drive ARPUs and is open to raising the price but only after doing full due diligence.

Also read: Vodafone Idea to leverage asset base to boost revenue per user

08:42 (IST)16 Apr 2019
Trade deficit narrows: Exports up 11% in March, 9% in FY19

India’s exports rose to a five-month high of 11% in March on account of higher growth mainly in pharma, chemicals and engineeringsectors, marking the outbound shipments at $331 billion for FY18-19, official data showed on Monday. Merchandise exports in March stood at $32.55 billion against $29.32 billion in the same month last year. This is the best growth rate for exports since October 2018, when shipments grew by 17.86%. Imports rose by 1.44% to $43.44 billion in March 2019.

Also read: Trade deficit narrows: Exports up 11% in March, 9% in FY19

08:41 (IST)16 Apr 2019
Apple seeks $27 billion from chip supplier Qualcomm in illegal patent licensing case

Apple Inc and its allies on Monday will kick off a jury trial against chip supplier Qualcomm Inc in San Diego, alleging that Qualcomm engaged in illegal patent licensing practices and seeking up to $27 billion in damages. Qualcomm, for its part, alleges that Apple forced its longtime business partners to quit paying some royalties and is seeking up to $15 billion. Filed by Apple in early 2017, the lawsuit in federal court revolves around the modem chips that connect devices like the iPhone or Apple Watch to wireless data networks. Qualcomm has spent the past two years mounting a pressure campaign of smaller legal skirmishes against Apple, seeking – and in some cases obtaining – iPhone sales bans for violating its patents.

Also read: Apple seeks $27 billion from chip supplier Qualcomm in illegal patent licensing case

08:41 (IST)16 Apr 2019
Asia stocks hover below 9-month peak after Wall Street stalls

Asian stocks hovered below a nine-month peak on Tuesday after disappointing bank earnings dented Wall Street, though recent signs the global economy is likely to avoid a sharper downturn helped limit the losses. MSCI’s broadest index of Asia-Pacific shares outside Japan stood little changed. The index had risen to its highest level since July 2018 the previous day after strong data from China eased investor concerns about the health of the global economy. Expectations that Chinese and U.S. trade negotiators would strike a deal soon also lifted confidence. Japan’s Nikkei nudged up 0.25 percent.

Also read: Asia stocks hover below 9-month peak after Wall Street stalls

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