Share market highlights: Sensex ends 36 points down, Nifty below 11,750; Yes Bank, IndusInd Bank shares plunge

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Updated:Apr 30, 2019 3:42:32 pm

Stock market highlights: After extending losses from the morning, the Sensex and Nifty made a smart rebound in the afternoon trade, but closed in the red. The Sensex closed 36 points lower at 39,031.55, while the Nifty ended below the 11,750-mark.

Kazakhstan, interest in the startups, BSE, बीएसई, startups, स्टार्टअप्स, कजाखस्तानShare market highlights: Yes Bank shares closed 30% down at Rs 166.55, while IndusInd Bank shares closed 5.7% down at Rs 1,600.25, to emerge among the biggest Sensex losers.

Stock market highlights: After extending losses from the morning, the Sensex and Nifty made a smart rebound in the afternoon trade, but closed in the red. The Sensex closed 36 points lower at 39,031.55, while the Nifty ended below the 11,750-mark. Yes Bank shares closed 30% down at Rs 166.55, while IndusInd Bank shares closed 5.7% down at Rs 1,600.25, to emerge among the biggest Sensex losers. 

Shares in Asia fell on Tuesday as readings on China’s manufacturing activity failed to meet expectations,  underscoring weakness in the world’s second-largest economy despite Beijing’s attempts to spur growth. Both official and private business surveys pointed to slower Chinese factory growth this month, dashing hopes for a steady reading or even a faster expansion. Data also showed a slower expansion in its services sector, adding to economic uncertainty, Reuters reported. 

Shares of Yes Bank will assume focus after the private sector lender reported its first ever quarterly loss for the Jan-Mar period. Notably, Macquarie has double downgraded the stock with a 40 per cent cut in target price. Shares of HDFC Life will also be in focus, as Macquarie has maintained a neutral rating with a target price of Rs 400. We bring to you Live updates.

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15:42 (IST)30 Apr 2019
BSE live: Sensex ends 36 points down, Nifty below 11,750; Yes Bank, IndusInd Bank shares plunge

After extending losses from the morning, the Sensex and Nifty made a smart rebound in the afternoon trade, but closed in the red. The Sensex closed 36 points lower at 39,031.55, while the Nifty ended below the 11,750-mark. Yes Bank shares closed 30% down at Rs 166.55, while IndusInd Bank shares closed 5.7% down at Rs 1,600.25, to emerge among the biggest Sensex losers. A look at LIVE Sensex heatmap.

11:21 (IST)30 Apr 2019
Global investors in talks with Mukesh Ambani’s RIL to invest in Jio’s towers, fibre

Global investors are in talks with Reliance Industries Ltd to invest in two infrastructure investment trusts set up to own Reliance Jio’s tower and fibre assets, a business daily reported on Tuesday, citing people aware of the matter. Reliance, once dependent on its industrial businesses, reshaped the Indian telecoms industry when it launched its Jio telecoms unit in 2016, taking on rivals such as Bharti Airtel and Vodafone Idea with its cut-throat pricing.

Also read: Global investors in talks with Mukesh Ambani’s RIL to invest in Jio’s towers, fibre

11:00 (IST)30 Apr 2019
Yes Bank stock sees worst fall in 7 months after Q4 shocker loss, shares down 27%; worst not yet over

Shares of India’s major private sector lender Yes Bank plunged in trade on Tuesday morning, after the firm reported its first ever quarterly loss. Yes Bank share price plunged by more than 27% to hit the day’s low at Rs 173. The represents Yes Bank’s worst fall in more than 7 months. After taking into account today’s plunge, the shares are down by more than 50% in the last one year. The private sector lender has reported a loss Rs 1,607 crore in the latest Jan-Mar 19 period on the back of a fall in non-interest income and a sharp increase in provisioning for bad loans, mainly due to defaults by the Infrastructure Leasing & Financial Services (IL&FS) group and Jet Airways. In the comparable period previous fiscal, Yes Bank had reported a net profit of Rs 1,179 crore in the fourth quarter of FY18. 

Also read: Yes Bank stock sees worst fall in 7 months after Q4 shocker loss, shares down 27%; worst not yet over

09:57 (IST)30 Apr 2019
BSE live: Sensex extends losses, Nifty below 11,700; Yes Bank plunges 27%

After opening lower, the Sensex and Nifty extended losses in the late morning trade, tracking weak global cues. The Sensex is down 300 points to 38,668.02 while the Nifty is trading below the 11,700-mark. Shares of Yes Bank plunged by 27% to hit the day's low at Rs 173 on BSE, after the firm reported a massive quarterly loss for the first time ever. A look at LIVE Sensex heatmap.

09:49 (IST)30 Apr 2019
What will drive the market today: Crude oil prices, Q4 earnings and other key things to watch out for

Crude oil prices: Oil prices fell on account of expectations that OPEC will increase output to compensate for a reduction in supplies from Iran following the ending of sanction waivers on Iranian oil importers. While the Brent crude futures were at $71.86 per barrel at 0103 GMT, down 18 cents from their previous close, the US WTI crude futures were at $63.42 per barrel, down 8 cents from their last close.

FII and DII: The net value of FIIs was in negative at Rs 70.73 crore, whereas that of DII was at Rs 920.88 crore on April 26.

Also read: What will drive the market today: Crude oil prices, Q4 earnings and other key things to watch out for

09:42 (IST)30 Apr 2019
Yes Bank share price plunges 27% after bank's Q4 shocker loss

Shares of India's major private sector lender Yes Bank plunged in trade on Tuesday morning after the bank reported a shocking loss in the latest quarter. Yes Bank share price plunged 27% to hit the day's low at Rs 173 on BSE. After Yes Bank reported it’s first ever quarterly loss of Rs 1,607 crore, analysts say that the path ahead remains challenging. Notably, Yes Bank posted its loss on the back of a fall in non-interest income and a sharp increase in provisioning for bad loans, mainly due to defaults by the Infrastructure Leasing & Financial Services (IL&FS) group and Jet Airways. In the same period previous fiscal, it had reported a net profit of Rs 1,179 crore in the fourth quarter of FY18.

09:27 (IST)30 Apr 2019
BSE live: Sensex down 40 points, Nifty below 11,750; Yes Bank plunges 30%

The Sensex and Nifty opened lower on Tuesday morning, tracking weak global cues. The Sensex is down 43 points to 39,9024, while the Nifty is trading below the 11,750-mark. Shares of Yes Bank plunged by 27% to hit the day’s low at Rs 173 on BSE, after the firm reported a massive quarterly loss for the first time ever. IndusInd Bank shares slumped 4% to Rs 1,631.35, to emerge among the biggest Sensex losers. 

09:07 (IST)30 Apr 2019
Sensex, Nifty will correct without doubt if Modi doesn’t return, says CLSA’s Chris Wood

Even as the stock markets continue to remain volatile ahead of the election results, CLSA’s Chris Wood says that the Sensex and Nifty will go down without a doubt in case current prime minister Narenda Modi doesn’t return to power. “If Modi loses, the stock market is going down without a doubt. But, obviously if it goes down too much, then it’s attractive as India is still going to grow at 7%. The precedent is what we saw in 2004,” Chris Wood, Chief Equity Strategist at CLSA told in an interview to ET Now.  

Also read: Sensex, Nifty will correct without doubt if Modi doesn’t return, says CLSA’s Chris Wood

09:00 (IST)30 Apr 2019
Electoral bonds worth Rs 1,366 crore purchased in March

A whopping `1,366 crore worth of electoral bonds were purchased in March this year, which is approximately the same as bought in the previous seven tranches since March 2018. Further, over 77% of the bonds in terms of value was redeemed in designated State Bank of India branch in New Delhi, an RTI response to FE query revealed. Experts said that the spurt in purchase of electoral bond was primarily due to the general election that commenced earlier this month. Moreover, a buyer can claim nil income tax on the contribution under Sections 80GGC/80GGB of the Income-Tax Act, which further accelerated the purchase given March is the last month of a fiscal year.

Also read: Electoral bonds worth Rs 1,366 crore purchased in March

08:48 (IST)30 Apr 2019
IBC success: Most insolvent firms wound up — a report card

Nearly 53% of the CIRPs (corporate insolvency resolution processes) completed till the end of March have ended in liquidation and solutions have been found for just 13% of the troubled companies. Moreover, the average realisation by financial creditors as a share of the admitted claims was just 43%, according to data from the Insolvency and Bankruptcy Board of India (IBBI), for the period till March 31. Worryingly for lenders, nearly a third of the insolvency cases being processed have already taken over 270 days.

Also read: IBC success: Most insolvent firms wound up — a report card

08:47 (IST)30 Apr 2019
Personal care: Wipro arm acquires Philippines firm Splash

After a gap of almost three years, Wipro Consumer care, part of Azim Premji’s Wipro Group, on Monday struck a new deal in the consumer goods space. The company said that it has acquired Philippines-based personal care company Splash Corporation for an undisclosed amount. The transaction strengthens Wipro’s consumer care portfolio in personal care and completes its south-east Asian footprint. This is Wipro’s 11th acquisition in the consumer line business and the ninth in the personal care segment. The company has already made five acquisitions in the domestic market in the consumer line business and several other in the overseas market.

Also read: Personal care: Wipro arm acquires Philippines firm Splash

08:46 (IST)30 Apr 2019
Google shares slump as ad revenue growth slows

Alphabet Inc.’s first-quarter revenue missed analysts’ estimates, sparking concern that advertisers are shifting some spending to digital rivals. Shares of Google’s parent company fell more than 7 percent following the results. Sales came in at $29.5 billion, excluding payments to distribution partners, Alphabet said in a statement on Monday. Wall Street was looking for $30.04 billion, according to the average of analysts’ estimates compiled by Bloomberg. Revenue from Google advertising rose 15 percent, the slowest pace since 2015. That was a stark contrast to scandal-plagued Facebook Inc., which last week reported a 26 percent jump in ad sales.

Also read: Google shares slump as ad revenue growth slows

08:45 (IST)30 Apr 2019
Asian shares fall as China manufacturing data disappoints

Shares in Asia fell on Tuesday as readings on China’s manufacturing activity failed to meet expectations, underscoring weakness in the world’s second-largest economy despite Beijing’s attempts to spur growth. Both official and private business surveys pointed to slower Chinese factory growth this month, dashing hopes for a steady reading or even a faster expansion. Data also showed a slower expansion in its services sector, adding to economic uncertainty.

Also read: Asian shares fall as China manufacturing data disappoints

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