Share market Highlights: Sensex ends 146 points down, Nifty holds 10,600; TCS, Infosys among top losers

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Updated:Aug 16, 2019 9:19:04 am

Track share market Highlights: The headline indices--Sensex and Nifty-- turned choppy in the afternoon trade on Tuesday, tracking mixed cues. The Sensex is down 180 points to 35,317.70, while the Nifty is trading below the 10,600-mark.

sensex, nifty, mid cap, nse, bseIndian Share Market Live Highlights: TCS shares closed 3.5% lower at Rs 1,902.30 on BSE.

Share Market Highlights: After opening mildly higher, the headline indices–Sensex and Nifty– turned choppy in the afternoon trade on Tuesday, tracking mixed cues. The Sensex closed 146 points lower at 35,352.61, while the Nifty ended below the 10,600-mark. TCS shares closed 3.5% lower at Rs 1,902.30 on BSE, while Infosys shares ended the session 2.1% lower at Rs 724.55 The IT majors have emerged among the top losers in Sensex for the day.

Asian shares hovered near four-month highs on Tuesday, supported by hopes that Sino-U.S. trade talks were making progress and expectations of policy stimulus from central banks. Investor confidence was bolstered by mild gains in European stocks as U.S. markets were shut on Monday for a public holiday, Reuters reported. Chinese shares were little changed, too, with the blue-chip index up 0.1 percent after surging in the previous session. We bring to you Highlights from today’s session.

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Highlights

    09:19 (IST)16 Aug 2019
    Jal Jeevan: Modi launches new mission for clean water on Independence Day

    Stressing on the need to conserve water, Prime Minister Narendra Modi on Thursday said that the centre and the states will have to work together to save water and provide it to every household. He said that under the Jal Jeevan Mission, clean water will be provided to all. Addressing the nation on the occasion of the 73rd Independence Day from the ramparts of the Red Fort in the national capital, Prime Minister Modi said that the government had allocated Rs 3.5 lakh crore for the project and the work on the Jal Jeevan Mission will progress with great vigour in the years to come.

    Full story

    15:48 (IST)19 Feb 2019
    UP budget 2019: Religion, cows among Yogi Adityanath’s 4 point development formula

    Religion and cows are among the four major areas that have gained a substantial attention in the Yogi Adityanath’s development plan for Uttar Pradesh. The state budget 2019 has laid stress on four key points – rural livelihood and cows, women welfare, religious tourism and infrastructure, noted a recent SBI report. After presenting a massive budget of Rs 4.28 lakh crore last fiscal, Uttar Pradesh Government has increased the budget to Rs 4.80 lakh crore for FY20, which is a 6.7 per cent increase over FY19, said SBI in its Ecowrap report.

    Also read: UP budget 2019: Religion, cows among Yogi Adityanath’s 4 point development formula

    15:38 (IST)19 Feb 2019
    BSE live: Sensex ends 146 points down, Nifty holds 10,600; TCS, Infosys among top losers

    After opening mildly higher, the headline indices--Sensex and Nifty-- turned choppy in the afternoon trade on Tuesday, tracking mixed cues. The Sensex closed 146 points lower at 35,352.61, while the Nifty ended below the 10,600-mark. TCS shares closed 3.5% lower at Rs 1,902.30 on BSE, while Infosys shares ended the session 2.1% lower at Rs 724.55 The IT majors have emerged among the top losers in Sensex for the day. A look at LIVE Sensen heatmap.

    15:23 (IST)19 Feb 2019
    BSE Live: Sensex down 200 points, Nifty below 10,600; TCS, Infosys among top losers

    The headline indices--Sensex and Nifty-- turned choppy in the afternoon trade on Tuesday, tracking mixed cues. The Sensex is down 180 points to 35,317.70, while the Nifty is trading below the 10,600-mark. TCS shares slumped by more than 3.2% to Rs 1,907.65 on BSE, while Infosys shares are trading 2.3% lower at Rs 724.30 on NSE. The IT majors have emerged among the top losers in Sensex in the afternoon trade. A look at LIVE Sensex heatmap.

    15:15 (IST)19 Feb 2019
    Sachin Bansal invests Rs 650 crore in Ola

    Flipkart co-founder Sachin Bansal has invested about Rs 650 crore in Ola, giving the Indian ride-hailing company more ammunition to compete with rival Uber.    The investment is in Sachin's personal capacity and is also the largest financing by an individual in Ola till date, Ola said in a statement. In January, Ola had issued shares worth Rs 150 crore to Sachin as part of series J round of funding. (PTI reported)

    15:02 (IST)19 Feb 2019
    Robert Vadra skips ED appearance, cites bad health

    Robert Vadra, brother-in-law of Congress president Rahul Gandhi, Tuesday skipped his scheduled appearance before the Enforcement Directorate in a money laundering case probe, citing his bad health, officials said. They said Vadra’s lawyers informed the investigating officer (IO) of the case their client is unwell and hence will be unable to join the probe related to allegations of money laundering to purchase assets abroad.

    Also read: Robert Vadra skips ED appearance, cites bad health

    14:53 (IST)19 Feb 2019
    Pakistan no longer in a financial crisis thanks to ‘friendly countries’, claims central bank governor

    Pakistan has come out of the financial crisis with the help of friendly countries and the economy has been set on the right path, the governor of the cash-strapped country’s central bank has claimed. Governor of the State Bank of Pakistan Tariq Bajwa’s remarks coincided with the announcement by Saudi Arabia that it would invest USD 20 billion in Pakistan under various projects.

    14:31 (IST)19 Feb 2019
    Emami share price jumps 15% after promoters sell stake to reduce debt

    Shares of Emami surged as much as 15 per cent to Rs 416 on BSE Tuesday after promoters of the FMCG company sold a 10 per cent stake, raising nearly Rs 1,600 crore, to pare debt. The promoter holding in the FMCG major will now come down to 62.74 per cent. “The stake sale proceeds will reduce promoter debt which was used in creation of assets like cement, solar power etc," Emami said in a statement.

    14:09 (IST)19 Feb 2019
    RPower promoters aim Rs 2,500 cr from stake sale

    Sovereign wealth funds of Qatar and Abu Dhabi as well as private equity major KKR have evinced interest in investing in Reliance Power, where promoters plan to sell part of their direct holdings to raise Rs 2,500 crore, investment banking sources said Tuesday.  Part of the diversified Anil Ambani group, Reliance Power has appointed J P Morgan as the banker for the proposed stake sale, the sources said. (PTI reported)

    13:00 (IST)19 Feb 2019
    Road ahead for automobiles sector is full of speed bumps; here’s why future looks bleak

    Automobiles sector will continue to move in the slow lane for some time with sluggish sales here to stay, as even the demand for commercial vehicles gets limited, on top of the ongoing difficult times for passenger vehicles and two & three wheelers, a research report said. he automobiles sector, which has emerged as one of the important sectors of the Indian economy, continued to post sluggish sales in January 2019 due to high interest rates, price hikes and weak consumer sentiments, CARE Ratings said in the report.

    Also read: Road ahead for automobiles sector is full of speed bumps; here’s why future looks bleak

    12:54 (IST)19 Feb 2019
    New Startup rules: Suresh Prabhu says definition of startups widened

    Definition of has been widened. An entity shall be considered a Startup upto 10 years from its date of incorporation/registration instead of the existing period of 7 years.

    12:44 (IST)19 Feb 2019
    Vedanta share price jumps after reports that firm may be in talks for Essar Steel last minute bid

    Shares of mining company Vedanta surged in trade on Tuesday, after media reports said that the Anil Agarwal-led Vedantamay make another attempt at buying Essar Steel. Vedanta share price gained by more than 3% to Rs 152.70 on NSE in the morning trade on Tuesday. Yesterday, the Supreme Court has refused to allow the firm to restart the contentious Tuticorin copper, which was at the centre of massive protests over pollution concerns, but directed it to approach the Madras High Court for reprieve. 

    12:37 (IST)19 Feb 2019
    Govt relaxes norms, investment limit for angel tax concession to startups

    Giving a major relief to startups, the government has decided to relax angel tax norms for startups, including increasing the investment limit to Rs 25 crore for availing income tax concessions by startups, an official said Tuesday.  Currently, startups avail tax concession only if total investment, including funding from angel investors, does not exceed Rs 10 crore. A notification regarding simplifying the process for startups to get exemptions on investments under section 56(2)(viib) of Income Tax Act, 1961, will be issued shortly, the official said. (PTI reported)

    11:59 (IST)19 Feb 2019
    Expert take: US-China trade war, global growth will not be major concerns, says Gaurav Misra of Mirae Asset Management

    "Markets could be volatile in the near term. There are domestic political events which are to unfold which might  cause short term volatility. There can be unfavourable global cues as well, however at the current moment it looks like global concerns on trade wars, growth outlook in US and China, etc. will not be a cause of major concern for the next few quarters at least," told in an interview to FE Online.

    11:32 (IST)19 Feb 2019
    Relax, your Google account is not going anywhere, but Google+ is

    When Google sent an email in February to its users with the title, “Your personal Google+ account is going away on April 2, 2019,” things could not have been clearer. Or, so they thought! The subject line of the email has left many confused over the shutdown with many speculating if their Google account was being shut down altogether.

    Also read: Relax, your Google account is not going anywhere, but Google+ is

    11:13 (IST)19 Feb 2019
    BSE live: Sensex extends gains, Nifty above 10,650; Bharti Airtel, M&M among top gainers

    The headline indices--Sensex and Nifty-- extended gains in the morning trade on Tuesday, tracking global cues. The Sensex is up 167 points to 35,656.56, while the Nifty is trading above the 10,650-mark. Bharti Airtel shares gained more than 3% to Rs 312 in the morning, trade while M&M shares are trading 2.5% higher at Rs 638 on BSE, to emerge among the top Sensex gainers. A look at LIVE Sensex heatmap.

    11:05 (IST)19 Feb 2019
    Income Tax Planning: How should the salaried plan their taxes now

    The Union Interim Budget 2019 saw tax proposals that would touch the lives of about three crore salary earners and pensioners. Although there are no changes in the tax slabs, this budget will allow a complete tax rebate for those earning an annual salary within Rs 5 lakh. For the ones earning above Rs 5 lakh, there are other amendments to lower your tax burden.

    Also read: Income Tax Planning: How should the salaried plan their taxes now

    10:11 (IST)19 Feb 2019
    Currency derivatives market closed for Chhatrapati Shivaji Jayanti

    The domestic currency derivatives markets are closed Tuesday on account of Chhatrapati Shivaji Jayanti.

    09:55 (IST)19 Feb 2019
    CIC pulls up RBI for non-disclosure of demonetisation records

    The Central Information Commission (CIC) has pulled up the Reserve Bank of India (RBI) for “perfunctory handling” of an RTI application seeking records of its board meetings where the issue of demonetisation was deliberated, and issued a show-cause notice to its central public information officer. Activist Venkatesh Nayak had sought records of all meetings of the RBI central board of directors along with the papers, presentations or other documents placed before it, which led to the decision of demonetisation announced by Prime Minister Narendra Modi on November 8, 2016.

    Also read: CIC pulls up RBI for non-disclosure of demonetisation records

    09:26 (IST)19 Feb 2019
    BSE live: Sensex up 75 points, Nifty below 10,650; Yes Bank, ICICI Bank among top gainers

    The headline indices--Sensex and Nifty-- opened mildly higher tracking mixed global cues. The Sensex is up 100 points to 35,598.65, while the Nifty is trading below the 10,650-mark. Yes Bank shares gained by more than 2% to Rs 218.10, while ICICI Bank shares are up 342.15, to emerge among the top Sensex gainers. A look at LIVE Sensex heatmap.

    09:12 (IST)19 Feb 2019
    Asian shares near 4-month high, buoyed by trade optimism

    Asian shares hovered near four-month highs on Tuesday, supported by hopes that Sino-U.S. trade talks were making progress and expectations of policy stimulus from central banks. Investor confidence was bolstered by mild gains in European stocks as U.S. markets were shut on Monday for a public holiday. MSCI's broadest index of Asia-Pacific shares outside Japan was a shade firmer, while Japan's Nikkei was almost flat. (Reuters reported)

    09:11 (IST)19 Feb 2019
    Hedge fund operator Avendus Capital plans $1 billion India-focused ESG fund

    Avendus Capital 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, said. 

    Also read: Hedge fund operator Avendus Capital plans $1 billion India-focused ESG fund

    09:09 (IST)19 Feb 2019
    Recap: Monday blues! Falling for eight day in a row, Sensex drops 311 points

    Poor corporate earnings, a shortage of liquidity and uncertainty ahead of the elections have left the Indian stock markets in a weak spot. The Sensex fell for the eighth straight session on Monday while the broader markets continued to be in the grip of the bears; a clutch of 128 top companies have lost more than Rs 5,000 crore in market capitalisation since January 2018. The combined erosion in market cap is a colossal Rs 20 lakh crore.

    Also read: Monday blues! Falling for eight day in a row, Sensex drops 311 points

    09:07 (IST)19 Feb 2019
    RBI to transfer Rs 28,000 crore to government as interim dividend

    The Reserve Bank of India (RBI) on Monday decided to offer an interim dividend of Rs 28,000 crore to the Centre, driving up its total transfer in the current fiscal to Rs 68,000 crore, as estimated by the interim Budget. The highest surplus transfer by the central bank in at least a decade would help a poll-bound government contain its FY19 fiscal deficit at 3.4% of GDP (against the targeted 3.3%), at a time when goods and services tax revenues are expected to trail the budgeted goal by as much as Rs 1 lakh crore.

    Also read: RBI to transfer Rs 28,000 crore to government as interim dividend

    09:06 (IST)19 Feb 2019
    Up the value chain: IOC first Indian refiner to sign oil supply deal with US

    To ensure a steady inflow of crude oil at a time imports from Iran are falling, state-run Indian Oil Corp (IOC) has become the first domestic company to sign a long-term supply contract with the US. The oil marketing company, in a statement released on Monday, said the annual deal is worth $1.5 billion and will be effective for FY20. “IOC has finalised a term contract for import of up to 3 million tonne of crude oil of US origin grades as a part of its strategy to diversify term crude sources,” the company said, adding the contract was finalised on February 15.

    Also read: Up the value chain: IOC first Indian refiner to sign oil supply deal with US

    09:06 (IST)19 Feb 2019
    Reliance Jio serves another ace: Mukesh Ambani-owned telco sells close to 50 million 4G feature phones

    Reliance Jio, which has been the fastest in utilising the opportunity of bringing 2G feature phone users to its 4G network with the 4G feature phone, has acquired around 50 million Jio Phone users since late 2017. Counterpoint Research, in its latest report, said that Jio has been the fastest to see the opportunity and adopt the platform to acquire tens of millions of 2G feature phone users to its 4G network with its KaiOS-powered 4G smart feature phone.

    Also read: Reliance Jio serves another ace: Mukesh Ambani-owned telco sells close to 50 million 4G feature phones

    09:05 (IST)19 Feb 2019
    Losing currency? Rupee worst performer in Asia as oil prices, Kashmir concerns linger

    India’s rupee has gone from being the best-performing Asian currency last quarter to the worst this year as rising crude prices and tensions over Kashmir weigh on sentiment. The currency has slumped 2.4 percent since the end of December, missing the rally in its regional peers on optimism over US-China trade talks. It slid to 71.515 per dollar Monday, from as strong as 69.23 in early January, and traded at 71.4450 at 3:15 pm in Mumbai. The S&P BSE Sensex index of stocks extended its biggest weekly loss in four months.

    Also read: Losing currency? Rupee worst performer in Asia as oil prices, Kashmir concerns linger

    Share market on Monday: 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.