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Share market highlights: Sensex ends 136 points down, Nifty above 11,750; Jet Airways plunges 34%

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Updated:Apr 18, 2019 3:52:31 pm

Share market highlights: After surging to new highs, the Sensex and Nifty remain choppy in the afternoon trade on Thursday. The Sensex closed 136 points down to 39,140, while Nifty ended above the 11,750-mark.

The BSE Sensex can be tracked for specific months before and after the elections to ascertain any such patterns. (Representational image)Share market highlights: The Nifty touched a new high of 11,856.15.

Stock market highlights: After surging to new highs, the Sensex and Nifty remain choppy in the afternoon trade on Thursday. The Sensex closed 136 points down to 39,140, while Nifty ended above the 11,750-mark. Earlier, the Sensex hit a new all-time high of 39,487.45, up 212 points from previous close. The Nifty touched a new high of 11,856.15. Jet Airways shares plunged by more than 34% to Rs 168.60 on NSE. RIL shares closed 2.8% to Rs 1,382.90, while Tata Motors shares closed 2.3% higher at Rs 235.90. 

Asian shares were subdued on Thursday after a negative performance on Wall Street, with caution ahead of business surveys in Europe and Japan, and the Good Friday and Easter holidays keeping investors on the sidelines. MSCI’s broadest index of Asia-Pacific shares outside Japan inched up 0.08 per cent, trading just below its highest since late July 2018 brushed on Wednesday. Australian shares advanced a quarter of a per cent while Japan’s Nikkei was a shade lower. We bring to you live updates.

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Share market highlights

12:10 (IST)18 Apr 2019
BSE live: Sensex under pressure after hitting record high, Nifty near 11,750; Jet Airways plunges 34%

After surging to new highs, the Sensex and Nifty remain choppy in the afternoon trade on Thursday. The Sensex is down about 90 points to 39,186, while Nifty is trading near the 11,750-mark. Earlier, the Sensex hit a new all-time high of 39,487.45, up 212 points from previous close. The Nifty touched a new high of 11,856.15. Jet Airways shares plunged by more than 34% to Rs 168.60 on NSE. A look at LIVE Sensex heatmap.

11:09 (IST)18 Apr 2019
BSE live: Sensex turns choppy after hitting record high, Nifty near 11,750; RIL, Wipro up

After surging to new highs, the Sensex and Nifty turned choppy in the late morning trade on Thursday. The Sensex is down about 55 points to 39,221, while Nifty is trading near the 11,750-mark. Earlier, the Sensex hit a new all-time high of 39,487.45, up 212 points from previous close. The Nifty touched a new high of 11,856.15. Shares of billionaire Mukesh Ambani-led Reliance Industries jumped by more than 2% at Rs 1,375.50, ahead of its Q4 results scheduled to be reported today. Wipro shares are trading 2% higher at Rs 286.60. A look at Sensex heatmap.

10:00 (IST)18 Apr 2019
As Mukesh Ambani’s RIL looks at Saudi Aramaco’s billions, India’s trade hangs in balance

It’s funny how friendly someone gets when they’re trying to sell you something. Saudi Arabian Oil Co. is doing its best to make nice with one of its biggest customers. With the ink barely dry on the takeover of 70 percent of the country’s chemical giant Saudi Basic Industries Corp. and the issuance of its first-ever corporate bond, Aramco is looking to buy a stake in the world’s biggest oil refinery. Indian billionaire Mukesh Ambani’s Reliance Industries Ltd. is seeking to sell as much as a quarter of its refining business for at least $10 billion and is entertaining offers from Aramco and Abu Dhabi National Oil Co., people with knowledge of the matter told Bloomberg News this week.

Also read: As Mukesh Ambani’s RIL looks at Saudi Aramaco’s billions, India’s trade hangs in balance

09:41 (IST)18 Apr 2019
Jet Airways shares plunge 34% after firm shuts all domestic and international operations

Shares of private sector airline Jet Airways plunged in trade on Tuesday morning, after the firm shut all domestic as well as international operations temporarily, owing to lack of funds. Jet Airways shares slumped 34% to hit the day's low at Rs 158.70 on NSE. After groundings spanned over weeks, Jet Airways on Wednesday finally suspended all operations temporarily after its lenders refused plea for emergency funds. The grounding of one of India’s premier airlines is sure to throw up challenges before the industry, with the immediate ones being to take care of the stranded passengers, and employees left without a livelihood. The last flight left Amritsar airport yesterday at 10:30 pm for New Delhi, per its flight schedule.

09:33 (IST)18 Apr 2019
Reliance Industries shares jump 2.5% ahead of Q4 results, Saudi Aramco deal buzz

Shares of billionaire Mukesh Ambani-led Reliance Industries surged in trade on Wednesday mornining, ahead of the firm's Q4 results scheduled to be reported today and the buzz around deal with world's most profitable firm Saudi Aramco. Reliance Industries shares gained nearly 3% to hit the day's high at Rs 1,381.90 on NSE. Oil giant Saudi Aramco is in talks to buy a minority stake in the refining and petrochemicals businesses of Reliance Industries, Reuters reported earlier citing sources familiar with the development. According to the report, Saudi Aramco is looking to pick up a 25% stake. The source told the agency that discussions were “serious.” With an annual profit of $110 billion in 2018 or Rs 7.7 lakh crore, Saudi Aramco remains the world’s most profitable firm.  

Also read: RIL-Saudi Aramco deal: Mukesh Ambani firm responds to reports of deal with world’s most profitable company

09:24 (IST)18 Apr 2019
BSE live: Sensex, Nifty hit new record highs; Reliance Industries up 2%, Jet Airways down 10%

The Sensex and Nifty moved to fresh record highs on Thursday morning, tracking positive global cues. The Sensex hit a new all-time high of 39,487.45, up 212 points from previous close. The Nifty touched a new high of 11,856.15. Shares of billionaire Mukesh Ambani-led Reliance Industries jumped by more than 2% at Rs 1,375.50, ahead of its Q4 results scheduled to be reported today. A look at LIVE Sensex heatmap.

09:13 (IST)18 Apr 2019
How to boost exports: Suggestion to Modi govt as full fiscal trade deficit hits record high

Although exports performed well despite major challenges such as protectionism, global slowdown, constraints on the domestic front, more is needed to further boost exports as trade deficit of India worsened in the fiscal 2018-19. “We demand for immediate support like augmenting flow of credit, higher tax deduction for Research & Development, outright exemption from Goods and Services Tax (GST), interest equalisation support to agriculture exports, benefits on sales to foreign tourists to further boost exports,” said Federation of Indian Export Organisations (FIEO) President Ganesh Kumar Gupta, reported PTI.Also read: How to boost exports: Suggestion to Modi govt as full fiscal trade deficit hits record high

09:03 (IST)18 Apr 2019
RIL to sell six very large ethane carriers to Japan firm

Reliance Industries (RIL) on Wednesday said it has signed a binding definitive agreement with Japan’s Mitsui OSK Lines (MOL) and an unnamed strategic minority investor to sell its stakes in firms that own RIL’s fleet of very large ethane carriers (VLECs). The VLECs are currently owned by RIL’s Singapore-incorporated 100% subsidiary Reliance Ethane Holding Pte (REHPL) through six limited liability companies which are special purpose vehicles. RIL did not reveal financial details of the deal. “Transaction closing is subject to regulatory approvals. Post-closing, SPVs shall be jointly controlled by REHPL and MOL,” RIL said in a statement. MOL is the operator of the six VLECs.

Also read: RIL to sell six very large ethane carriers to Japan firm

09:01 (IST)18 Apr 2019
Upcoming elections, uncertainty around Brexit among factors leading to subdued deal activity in Jan-Mar: Grant Thornton

Delays in deal execution, growing complexity in deal structures and macroeconomic factors like upcoming elections, global economic conditions and the uncertainty around Brexit dampening investor sentiment led to a tepid January-March quarter, both in terms of deal value and deal volume, a report by Grant Thornton said. The first quarter of the calendar year 2019 (Q12019) saw 292 mergers and acquisitions (M&As) and private equity (PE) transactions worth $21 billion, which is a 10% and 8% decline both in terms of deal volume and value, the report stated. M&A activity by itself declined by 33% at $12.461 billion compared to the same period last year.

Also read: Upcoming elections, uncertainty around Brexit among factors leading to subdued deal activity in Jan-Mar: Grant Thornton

08:53 (IST)18 Apr 2019
Mindtree board proposes special dividend of Rs 20/share amid L&T takeover bid

Ahead of a potential takeover of the company by L&T, Mindtree’s board on Wednesday proposed to pay a special dividend of `20 per share translating into a total payout of over Rs 320 crore to its shareholders, including promoters. The company said the move was in line with its capital allocation policy and did not go against corporate governance norms. Mindtree will, however, seek the approval for its proposal at the forthcoming annual general meeting likely to take place in June or July, but there will be no extraordinary general meeting for the same.

Also read: Mindtree board proposes special dividend of Rs 20/share amid L&T takeover bid

08:44 (IST)18 Apr 2019
Jet Airways grounding throws up new challenges; new owner won’t find it easy, industry must mend ways

After groundings spanned over weeks, Jet Airways on Wednesday finally suspended all operations temporarily after its lenders refused plea for emergency funds. The grounding of one of India’s premier airlines is sure to throw up challenges before the industry, with the immediate ones being to take care of the stranded passengers, and employees left without a livelihood. The entire aviation sector is in a complex situation now with Jet Airways’ operations coming to a standstill, Parvez Damania, former director Kingfisher Airlines and founder of erstwhile Damania Airways, said. “Even if a new buyer comes, she may have a new strategy and new plan. She won’t be able to absorb all the people currently with Jet Airways. There is a very high chance that people will end up losing jobs,” Parvez Damania told Financial Express Online.

Also read: Jet Airways grounding throws up new challenges; new owner won’t find it easy, industry must mend ways

08:43 (IST)18 Apr 2019
Oil on boil: Brent crude hits high of 2019; key factors behind surge

Hitting a 2019 high, brent crude on Wednesday reached above $72 level on account of robust China growth numbers and decline in US crude stocks, even as global supply remained tight.International benchmark Brent crude futures were up 20 cents, or 0.28 percent, at $71.92 by 1320 GMT, having hit an intraday peak of $72.27, Reuters reported. Similarly, US West Texas Intermediate (WTI) crude futures were at $64.39 per barrel, up 34 cents or 0.53 percent and just shy of a 2019 high of $64.79 hit last week.

Also read: Oil on boil: Brent crude hits high of 2019; key factors behind surge

08:42 (IST)18 Apr 2019
Why Ericsson may be asked to return Rs 580 crore to RCom; all that happened so far, and what’s next

Anil Ambani’s Reliance Communications, which recently had to pay Ericsson dues worth Rs 580 crore, saving its chairman from going to jail, may get the money back if it moves to insolvency proceedings, the NCLAT (National Company Law Appellate Tribunal) had said earlier last week. Since financial creditors get preference over operational creditors under the Insolvency and Bankruptcy Code of 2016, and Ericsson being an operational creditor, it will be expected to return the money it got in dues.

Also read: Why Ericsson may be asked to return Rs 580 crore to RCom; all that happened so far, and what’s next

08:41 (IST)18 Apr 2019
Recap: Jet Airways last flight at 10:30 pm; ailing airline to shut down operations tonight

After lenders refused Jet Airways request for Rs 400 crore infusion, the debt-ridden airline on Wednesday decided to shut down the operations temporarily, the company said in a regulatory filing. The last flight of the airline would be operated at 10:30 pm tonight. The airline was expecting the funding to come through, even as the lenders didn’t take a final decision yesterday on providing it with the emergency funds. “Since no emergency funding from the lenders or any other source is forthcoming, the  airline will not be able to pay for fuel or other critical services to keep the operations  going. Consequently, with immediate effect, Jet Airways is compelled to cancel all its  international and domestic flights. The last flight will operate today”, Jet Airways said in an exchange filing.

Also read: Jet Airways last flight at 10:30 pm; ailing airline to shut down operations tonight

Share market on Tueasday: 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.
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