Share Market Highlights: Sensex closes 320 points down, Nifty below 10,650; TCS, Yes Bank down up to 3%

By: | Updated:Feb 18, 2019 3:58 pm

Track Share Market Highlights: The headline indices- Sensex and Nifty extended losses in the afternoon trade on Monday, tracking mixed global cues. The Sensex closed 311 points down to 35,498.44, while the Nifty ended 95 points down at 10,630.15.

Share Market Live, Stock Market Live Hindi, Nifty Live, NSE live, BSE live, Live Market Update, Market Today, Indian Share Market Live, Indian Stock Market LiveStock Market Highlights: Yes Bank shares closed 2.24% lower at Rs 213.80 on BSE.

Stock Market Highlights: The headline indices- Sensex and Nifty extended losses in the afternoon trade on Monday, tracking mixed global cues. The Sensex closed 311 points down to 35,498.44, while the Nifty ended 95 points down at 10,630.15. Yes Bank shares closed 2.24% lower at Rs 213.80 on BSE, after the Reserve Bank of India warned of regulatory action for disclosure of nil divergence report in violation of the confidentiality clause. TCS shares closed 3% lower at Rs 1,969.50, emerging among the biggest Sensex losers.

Asian share markets bounced broadly on Monday as investors dared to hope for both progress at Sino-U.S. trade talks in Washington this week and more policy stimulus from major central banks. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1 percent, recovering from a sharp fall last Friday. Japan’s Nikkei climbed 1.8 percent to its highest level of the year so far, while Australia’s main index rose 0.7 percent, Reuters reported. We bring to you live updates.

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

15:47 (IST)18 Feb 2019
BSE Live: A look at top 10 firms by market capitlisation; RIL tops list

At the end of Monday, billionaire Mukesh Ambani-led Reliance Industries retained the top spot in terms of markep capitalisation at Rs 7.88 lakh crore, followed by TCS at Rs 7.62 lakh crore. HDFC Bank ranks third in the list with an overall market capitalisation of Rs 5,71 lakh crore. HUL shares price closed at 1,773 taking its overall mcap to Rs 3.83 lakh crore, ranking fourth in the list. The next in the list is FMCG ginat ITC with an mcap of Rs 3.42 lakh crore. A look at India's top 10 firms in terms of value. 

15:37 (IST)18 Feb 2019
BSE Live: Sensex closes 320 points down, Nifty below 10,650; TCS, Yes Bank down up to 3%

The headline indices- Sensex and Nifty extended losses in the afternoon trade on Monday, tracking mixed global cues. The Sensex closed 311 points down to 35,498.44, while the Nifty ended 95 points down at 10,630.15. Yes Bank shares closed 2.24% lower at Rs 213.80 on BSE, after the Reserve Bank of India warned of regulatory action for disclosure of nil divergence report in violation of the confidentiality clause. TCS shares closed 3% lower at Rs 1,969.50, emerging among the biggest Sensex losers. A look at LIVE Sensex heatmap.

15:11 (IST)18 Feb 2019
Punjab budget gives fuel relief! Petrol prices cut by Rs 5, diesel down by Rs 1

In a welcome move, Punjab government on Monday reduced petrol and diesel prices from midnight as it slashed value added tax (VAT) on fuel selling in the state in the budget. After the revision, price of petrol in Punjab stands reduced by Rs 5 per litre and diesel by Rs 1 per litre post the cut. On Monday, State Finance Minister Manpreet Singh Badal presented the state budget for FY20 with a total outlay of Rs 1,58,493 crore with no new taxes.

Also read: Punjab budget gives fuel relief! Petrol prices cut by Rs 5, diesel down by Rs 1

15:02 (IST)18 Feb 2019
Why Apple-Netflix deal hinges on much more than just strategic fit

Among the world’s most high-profile technology deals in recent times, Apple’s rumoured acquisition of Netflix is regarded as the “best strategic fit” for the company in its content business, as J.P. Morgan analyst Samik Chatterjee wrote earlier this month, according to Bloomberg. Of course, it has to be since Apple already has significant experience in the content business. Its co-founder Steve Jobs helped animation company Pixar to turn around its business into a great success, Enrique Dans, senior advisor for innovation and digital transformation at Spain’s IE University said in a column on Forbes.

Also read: Why Apple-Netflix deal hinges on much more than just strategic fit

14:37 (IST)18 Feb 2019
Anil Ambani’s Reliance Group shares surge after agreement with lenders

Shares of Reliance ADAG companies on Monday surged after an agreement was sealed with 90 per cent of the lenders to avoid selling any stock pledged by the promoters until September 30 in view of lower collateral cover or reduced margin due to the recent decline in share prices. The shares of Reliance Infrastructure, Reliance Power and Reliance Capital jumped  between 11.3 to 19.9 per cent. While Reliance Infrastructure (which surged nearly 19.88 per cent) posted the biggest intraday percentage gain since May 2009, Reliance Power saw its strongest intraday performance since January previous year.

Also read: Anil Ambani’s Reliance Group shares surge after agreement with lenders

13:20 (IST)18 Feb 2019
Apple, Amazon, Google mutual funds on anvil? Soon, tech giants may enter investment management

After Alibaba’s disruptive foray into the investment management, tech giants Apple, Amazon, Google may soon enter the space, say experts. Alibaba's Ant Financial Group is already the largest money market fund in the world. As investing becomes more tech driven, Amazon, Apple and Alphabet could bring their expertise to an industry plagued by distribution challenges, Dave Nadig from ETF.com told CNBC earlier this month.

Also read: Apple, Amazon, Google mutual funds on anvil? Soon, tech giants may enter investment management

12:47 (IST)18 Feb 2019
Retail investors should continue to invest through SIPs

"Retail investors have to understand that returns from equity as an asset class, while, will outperform in the long-run, its returns will continue to be non-linear with bouts of volatility. One should stay invested and add if possible through SIP during volatile times to get the best out of the market cycles," ArunaGiri N., Founder CEO & Fund Manager, TrustLine Holdings told FE Online.

12:01 (IST)18 Feb 2019
BSE live: Sensex extends losses, Nifty below 10,750; TCS, Asian Paints shed up to 3%

The headline indices- Sensex and Nifty extended losses in the afternoon trade Monday, tracking mixed global cues. The Sensex is down 233 points to 35,575.23, while the Nifty is trading below the 10,650-mark. TCS shares are trading 2.5% lower at Rs 1,980.10, while Asian Paints tanked by more than 3.5% to Rs 1,933, to emerge among the biggest Sensex losers. A look at LIVE Sensex heatmap.

11:45 (IST)18 Feb 2019
Why credit rating agencies are real threat to financial markets

n recent weeks, many large-scale disasters in the financial market like ILFS, DHFL, and now Zee Group is due to the lack of prudent rating by rating agencies. This is the classic case when private rating agencies are going all out to retain their fee by leading reports to please the promoters. Once again, I am saying this is not the end of bad news. We must take a proactive stand and force the rating agencies to review the rating of all their clients in the next 30 days.

Also read:  Why credit rating agencies are real threat to financial markets

11:15 (IST)18 Feb 2019
Expert take: Nifty no longer a Play on the Indian Economy, says Saurabh Mukherjea of Marcellus Investment Managers

"To understand why the Nifty no longer captures the dynamism of the Indian economy a good place to start is the index as it stood ten years ago. On the face of it, the ten year share price return from investing in the Nifty is a very respectable 14% but that is a deceptively flattering figure. A better way to understand the quality (or lack thereof) of the Nifty is to look at the return from investing in the underlying fifty stocks which were in the Nifty ten years ago – such a portfolio (equal weighted) would give you a return of negative 1% per annum (CAGR over ten years). [Note: by starting the measurement in February 2009, when the market was close to its post-Lehman lows, we are giving the Nifty every chance to benefit from an unusually low base.]," Mukherjea said.

10:23 (IST)18 Feb 2019
Rupee slides 15 paise against US Dollar in early trade

The rupee weakened by 15 paise to trade at 71.38 against the US dollar in early trade Monday amid heavy foreign fund outflows and subdued domestic equity markets.  At the forex market, the domestic unit opened weak at 71.35 and slipped further to 71.46. However, it pared some losses to trade at 71.38. The rupee had closed 7 paise lower against the greenback Friday at 71.23. On a weekly basis, it had registered a loss of 8 paise. Foreign portfolio investors (FPIs) sold shares worth a net Rs 966.43 crore, while domestic institutional investors (DIIs) bought equities to the tune of Rs 853.25 crore Friday, provisional data showed.

09:53 (IST)18 Feb 2019
Yes Bank shares emerge as top Sensex loser are RBI pulls up bank for NIL divergence report

Shares of India's major private sector lender Yes Bank tanked in trade on Monday morning, after the RBI pulled up the bank for disclosing "confidential" information. Yes Bank share price slumped by more than 8.2% to Rs 201 in the morning trade on Monday. "As the RAR report was marked "confidential", it was expected that no part of the report and information contained therein be divulged except for the information in the form and manner of disclosure prescribed by Regulations. Therefore, the Press Release breaches confidentiality and violates regulatory guidelines," RBI said in a letter to Yes Bank, according to a stock exchange filing by the lender. 

09:26 (IST)18 Feb 2019
BSE Live: Sensex down 50 points, Nifty above 10,750; Yes Bank, HCL Tech down up to 5%

The stock markets- Sensex and Nifty opened mildly higher, but soon turned choppy, tracking mixed global cues. The Sensex is down 42 points to 35,766.65, while the Nifty is trading above the 10,750-mark. Yes Bank shares are trading 5% lower at Rs 208 on NSE, after the Reserve Bank of India warned of regulatory action for disclosure of nil divergence report in violation of the confidentiality clause. HCL Tech shares too are trading 2% lower. A look at LIVE Sensex heatmap.

09:13 (IST)18 Feb 2019
GDP and productivity statistics viewed overlooking much of what we truly value

At a session on ‘More than GDP’ at the 2019 World Economic Forum in Davos, New Zealand PM Jacinda Ardern argued what, of late, has been advocated by many leading economists that, while countries measure their economic growth, several other factors impacting quality of life go unmeasured. “We need to address the societal well-being of our nation, not just the economic well-being,” Ardern said.

Also read: GDP and productivity statistics viewed overlooking much of what we truly value

09:12 (IST)18 Feb 2019
Earnings season: India Inc stressed over poor demand, high raw material costs

It’s been a season of many misses and very few hits. Weak demand and keen competition have left companies with limited pricing power while higher raw material prices have driven up costs. It’s not just smaller businesses that are finding it hard to pass on the higher costs, which are both commodity-driven and regulation driven. Heavyweights too have not been able protect their margins; from BHEL to HeroMotoCorp and Bharti Airtel, it has been a string of disappointments.

Also read: Earnings season: India Inc stressed over poor demand, high raw material costs

09:10 (IST)18 Feb 2019
Right time to invest? Equities appear less risky, higher returns in long-run

The first month of 2019 was positive for Indian equities as the S&P BSE Sensex rose 0.5% during January. However, S&P BSE Midcap and S&P BSE Smallcap index had declined by 5.7% and 5.3%, respectively in January. Sector such as IT, consumer durable and banking performed well during the month. Auto, capital goods and metal stocks were laggards. Foreign institutional investors (FIIs) in the month of January were inactive with sell orders of $75 million. Domestic institutions were net buyers during the month to the tune of $300 million approximately. Mutual funds were buyers of $1.2 billion while insurance companies sold stocks worth $880 million. The rupee depreciated 1.9% during the month.

Also read: Right time to invest? Equities appear less risky, higher returns in long-run

09:09 (IST)18 Feb 2019
Patanjali’s fashion foray: Baba Ramdev’s company turns to apparel after creating ripples in FMCG

After creating ripples in the FMCG category, Patanjali Ayurved, promoted by spiritual leader Baba Ramdev, turned its focus on fashion with the launch of Patanjali Paridhan in November last year. Its maiden apparel store in New Delhi houses three sub-brands — a menswear brand Sanskar, womenswear brand Aastha and a unisex sportswear brand Livfit.

Also read: Patanjali’s fashion foray: Baba Ramdev’s company turns to apparel after creating ripples in FMCG

09:08 (IST)18 Feb 2019
Oil hits 3-month high on OPEC cuts, US sanctions on Iran, Venezuela

Oil prices rose to their highest levels since November last year on Monday, lifted by OPEC-led supply cuts and U.S. sanctions on Iran and Venezuela. U.S. West Texas Intermediate (WTI) crude oil futures pushed through $56 per barrel for the first time this year, hitting $56.13 a barrel before edging back to $56.02 a barrel by 0112 GMT, still up 0.8 percent from their last settlement.

Also read: Oil hits 3-month high on OPEC cuts, US sanctions on Iran, Venezuela

09:07 (IST)18 Feb 2019
India-bound: Hedge fund operator plans $1 billion ESG fund

Avendus Capital Ltd. has started accepting money for one of India’s first funds to base investment decisions on environment, social and governance parameters as investor concerns about governance at Indian companies surge. “Traditionally, university endowments and pension funds tend to participate in ESG. But we are now seeing a lot of appetite also from millennial, high net-worth investors and family offices,” Abhay Laijawala, managing director at Avendus Capital Public Markets Alternate Strategies LLP, said in an interview at his office in Mumbai. “The compelling newsflow around climate change and work-related issues is driving this shift.”

Also read: India-bound: Hedge fund operator plans $1 billion ESG fund

09:06 (IST)18 Feb 2019
Rupee vs Rupiah: Indonesian currency holds edge as polls near

Two of Asia’s biggest emerging economies will soon elect leaders, and wagers are already being placed on their currencies. The consensus: Indonesia’s rupiah will trump India’s rupee. It boils down to who retains power among the two pro-business incumbents. Opinion polls show Indonesian President Joko Widodo is set to win the April 17 vote, while Indian Prime Minister Narendra Modi’s position appears less secure following regional defeats for his party late last year.

Also read: Rupee vs Rupiah: Indonesian currency holds edge as polls near

09:05 (IST)18 Feb 2019
Morning briefing: Five things you need to know to start your day

Trade talks continue amid hopes of a resolution, Asian markets look set to start the week upbeat and a parade of central bankers will be closely watched as global economic data disappoints. Here’s what’s moving markets this morning. China-U.S. trade talks resume in Washington this week, after last week’s negotiations yielded claims of progress with few public details. Beijing claimed a “consensus in principle.” President Trump called the meetings “very productive,” and reiterated his willingness to extend a March 1 deadline for increasing tariffs on Chinese goods.

Also read: Morning briefing: Five things you need to know to start your day

Share market on Friday: Benchmark indices reeled under selling pressure for the seventh straight session Friday as pharma, metal, auto and banking stocks led losses amid sustained foreign fund outflows and muted earnings season. The Sensex after slumping 365 points to hit a low of 35,510.97 intra-day, recouped most of the lost ground on fag-end buying, and finally settled with a modest fall of 67.27 points, or 0.19 per cent down at 35,808.95. The broader NSE Nifty, after shuttling between 10,620.40 and 10,785.75, settled at 10,724.40 points, down by 21.65 points, or 0.20 per cent.
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