Share Market highlights: Sensex ends 76 points up, Nifty above 11,000; Yes Bank, Tata Motors top gainers

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Updated:Sep 11, 2019 3:40:22 pm

Share Market highlights: The headline indices Sensex and Nifty extended gains on Wednesday afternoon, tracking mixed global cues.

Sensex, equity markets, FMCG, NSE benchmark, US, China, Asian markets, Nifty, foreign portfolio investors, BSE sensexThe Sensex was up 130 points to 37,227, while the Nifty was trading above the 11,000-mark.

Share Market highlights: The headline indices Sensex and Nifty extended gains on Wednesday afternoon, tracking mixed global cues. The Sensex closed 76 points up to 37,221.80, while the Nifty ended above the 11,000-mark at 3.30 pm. Yes Bank, Tata Motors, VEDL shares were among the biggest gainers, surging up to 13%. ONGC, HCL tech emerged among the biggest losers, shedding up to 4%. Asian stock markets held firm and bond yields rose on Wednesday as hopes of diminishing US-China tensions and reduced risk of no-deal Brexit prompted investors to take profit in risk-off trade ahead of key central bank policy meetings. In early trade, MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.10% while Japan’s Nikkei rose 0.32%, Reuters reported.

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    15:40 (IST)11 Sep 2019
    BSE live: Sensex ends 76 points up, Nifty above 11,000; Yes Bank, Tata Motors top gainers

    The headline indices Sensex and Nifty extended gains on Wednesday afternoon, tracking mixed global cues. The Sensex closed 76 points up to 37,221.80, while the Nifty ended above the 11,000-mark at 3.30 pm. Yes Bank, Tata Motors, VEDL shares were among the biggest gainers, surging up to 13%. ONGC, HCL tech emerged among the biggest losers, shedding up to 4%. A look at LIVE Sensex heatmap.

    15:26 (IST)11 Sep 2019
    Borrowing from NBFCs? Here’s checklist of 5 must-haves for MSMEs before selecting right lender

    Despite MSMEs key contribution to the Indian economy, their contribution remains well below the true potential. Indians MSMEs share in total GDP is around 29 per cent even as the global average stands at 49 per cent. One of the key reasons for this below par contribution is the lack of formal credit available for SMEs. Over the last couple of decades, Non-Banking Financial Institutions (NBFCs) have emerged as a convenient, affordable, and quick source of borrowing for SMEs particularly in remote areas where banks may not be in abundance. Due to RBI regulations and market dynamics, their interest rates are also very competitive, and way below informal lenders. 

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    14:17 (IST)11 Sep 2019
    Jobs are coming: Significant hiring on cards next quarter; check which sectors will hire most people

    Despite the ongoing economic slowdown, companies in India are optimistic about generating more jobs in the near-term. India has ranked fourth-highest globally in the strongest sentiment for hiring in the fourth quarter of 2019, according to the ManpowerGroup Employment Outlook Survey. One-fifth of employers surveyed in India believe that there will be significant hiring in the forthcoming quarter. The top three countries ahead of India in the hiring sentiment are Japan, Taiwan, and the US. Within India, the strongest labor market is anticipated in the eastern parts, where the net employment outlook is 38 per cent, that reflects robust hiring prospects.

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    13:01 (IST)11 Sep 2019
    Double blow for stock market: Credit Suisse downgrades India two steps in model portfolio

    In what could be a blow to the stock market, global firm Credit Suisse has downgraded India amid the ongoing economic slowdown. Credit Suisse has downgraded Indian market to number 8th position from 6th spot earlier. "We downgrade India on a fall in our scorecard and macro disappointment. India falls to number 8 from 6 in model portfolio," Dan Fineman, Co-Head of Equity Strategy, Asia Pacific, Credit Suisse said in a note. Following the development, India's weight in now down to 'marketweight.' In August, Credit Suisse had upgraded Indian market to a ‘small overweight’ from ‘marketweight’ owing to improvement in valuations relative to Asian markets. “Falling inflation opens ample policy space for rate cuts and EPS is proving more resilient than for the region as a whole,” said Credit Suisse had said.

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    12:35 (IST)11 Sep 2019
    BSE live: Sensex extends gains, Nifty above 11,000; Yes Bank, Tata Motors surge up to 13%

    The headline indices Sensex and Nifty extended gains on Wednesday afternoon, tracking mixed global cues. The Sensex was up 130 points to 37,227, while the Nifty was trading above the 11,000-mark at 12.30 pm. Yes Bank, Tata Motors, VEDL shares were among the biggest gainers, surging up to 13%. Infosys, Kotak Mahindra Bank emerged among the biggest losers, shedding up to 1%. A look at live Sensex heatmap.

    10:59 (IST)11 Sep 2019
    Yes Bank share price surges after reports of Rana Kapoor selling stake to Paytm

    Shares of private sector lender Yes Bank surged on Wednesday morning after reports that founder Rana Kapoor is in talks with Vijay Shekhar Sharma-led Paytm to sell stake. Yes Bank shares gained more than 8.5% to hit the day's high at Rs 68.50 on BSE. Rana Kapoor has approached Paytm's boss Vijay Sharma to sell his family members’ and his own stake in Yes Bank for Rs 1,800-2,000 crore, CNBC TV-18 reported citing sources as saying. The companies are still negotiating on the price and other issues, the news channel added.  Interestingly, Yes Bank CEO Ravneet Gill told news agency Reuters that the firm is close to securing a deal to sell a minority stake to a global technology company to help boost the private lender’s capital.

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    10:07 (IST)11 Sep 2019
    Reliance Industries to infuse Rs 140.35 crore into JioSaavn

    JioSaavn has received capital infusion of Rs 140.35 crore from parent firm Reliance Industries, according to documents sourced from business signals platform paper.vc. In 2018, Reliance Industries had announced the merger of its digital music service JioMusic with audio over-the-top (OTT) platform Saavn. The valuation of the combined entity is pegged at over $1 billion, the company had said. JioSaavn competes with Gaana, Spotify, Wynk and YouTube Music. Digital audio streaming has gained ground due to increased proliferation of smartphones and cheap data. In India, more than 4,440 million monthly streams are running across leading OTT players, according to a Deloitte-IMI report.

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    09:59 (IST)11 Sep 2019
    Flipkart India gets Rs 1,616 crore fresh capital from parent

    Flipkart India has received Rs 1,616.12 crore in fresh capital from its Singapore-based parent company Flipkart Private Ltd, according to documents sourced from business signals platform paper.vc. In January, the Singapore entity had injected Rs 1,431.3 crore in Flipkart India, the wholesale arm of the e-commerce major. The cash infusion comes ahead of a month-long festive season in India when consumers loosen their purse strings — spending on fashion to white goods and electronic items.

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    09:50 (IST)11 Sep 2019
    Tata Motors shares among top Sensex gainers

    Shares of auto major Tata Motors have emerged among the top gainers in Sensex this morning. Tata Motors share price jumped more than 5.5% to hit the day's high at Rs 127.40 on BSE.

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    09:45 (IST)11 Sep 2019
    Yes Bank shares jump 7% after reports of Paytm picking up stake

    Shares of Yes Bank shares jumped 7% to hit the day's high at Rs 68 after reports that Yes Bank co-founder Rana Kapoor is in talks with Paytm founder Vijay Shekhar Sharma to sell stake in the bank. Rana Kapoor approached Sharma to sell his family members’ and his own stake in Yes Bank for Rs 1,800-2,000 crore, CNBC TV-18 cited sources as saying. The companies are still negotiating on the price and other issues, the news channel added. Interestingly, Yes Bank CEO Ravneet Gill told Reuters that the firm is close to securing a deal to sell a minority stake to a global technology company to help boost the private lender’s capital.

    Check live stock price: Yes Bank

    09:24 (IST)11 Sep 2019
    BSE live: Sensex up 100 points, Nifty above 11,000; Yes Bank, Tata Motors top gainers

    The headline indices Sensex and Nifty opened higher on Wednesday morning, tracking mixed global cues. The Sensex was up 100 points to 37,239, while the Nifty was trading above the 11,000-mark at 9.20 am. Yes Bank, Tata Motors, VEDL shares were among the biggest gainers, surging up to 5%. Infosys, Kotak Mahindra Bank emerged among the biggest losers, shedding up to 1%. A look at LIVE Sensex heatmap.

    09:01 (IST)11 Sep 2019
    Rana Kapoor may sell Yes Bank stake to Vijay Shekhar Sharma’s Paytm

    Yes Bank co-founder Rana Kapoor is in talks with Paytm founder Vijay Shekhar Sharma to sell stake in the bank, according to various media reports. Rana Kapoor approached Sharma to sell his family members’ and his own stake in Yes Bank for Rs 1,800-2,000 crore, CNBC TV-18 cited sources as saying. The companies are still negotiating on the price and other issues, the news channel added. Interestingly, Yes Bank CEO Ravneet Gill told Reuters that the firm is close to securing a deal to sell a minority stake to a global technology company to help boost the private lender’s capital. “We are in fairly advanced level of talks right now and it is close to being a done deal,” Ravneet Gill, chief executive and managing director of the corporate and retail bank, told Reuters in an interview.

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    08:57 (IST)11 Sep 2019
    Zee starts repaying lenders ahead of deadline; HDFC, ICICI other MFs get up to 60% money back

    Billionaire Subhash Chandra-promoted Zee Enterprises has reportedly started repaying its lenders ahead of the Sep 30 deadline as a part of its Rs 11,000 crore debt reduction programme. Notably, lenders including HDFC MF, ICICI Pru MF, Kotak Mahindra MF, ABSL mutual fund have received between 45-60% of the total outstanding dues, CNBC TV18 reported citing sources. HDFC Mutual Fund has received Rs 580 crore or 50% of the total outstanding amount. Aditya Birla Sun Life MF has received about 760 crore or 49% of the amount outstanding, the channel reported. ICICI Prudential MF has received the highest Rs 435 crore or 60% of the amount due, while Zee has paid Rs 599 crore to Kotak MF, which is 52% of its amount due.

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    08:54 (IST)11 Sep 2019
    Good news amid slowdown gloom: PE/VC investments in India at all-time high

    Private equity/Venture Capital (PE/VC) investments in India stands at an all-time high of $36.70 billion in 2019 having surpassed the previous high of $36.5 billion recorded in 2018, said the IVCA-EY report. August 2019 recorded investments worth $4.4 billion across 82 deals, on the back of 16 large deals of value greater than $100 million and strong investment activity in infrastructure and real estate asset classes. Exits recorded $691 million across 11 deals on account of large secondary exits.

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    08:43 (IST)11 Sep 2019
    $15 trillion in 2017: Phantom capital surges, skews global FDI data

    About $15 trillion, or 38%, of the world’s foreign direct investment (FDI) in 2017 was “phantom capital” that was tailor-made to trim tax bills of multinational corporations, and tax havens were being used to funnel these investments, according a study put out by the International Monetary Fund. The share of such investments in reported FDI has shot up by roughly seven percentage points since 2010 and serves to skew the global FDI data, shows the study by the IMF and the University of Copenhagen. To put it in perspective, phantom capital in 2017 was equivalent of the combined GDP of China and Germany in that year.

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    08:42 (IST)11 Sep 2019
    PSU Banks on hiring spree, on the lookout for specialists for lateral entry

    Public sector banks (PSBs) continue to make lateral hires in specialised positions as they pivot to an era of increased digitisation and focused lending to small enterprises. State Bank of India on Tuesday sought applications to fill vacancies for 477 information technology (IT) roles. Its smaller peer Bank of Baroda (BoB) has also advertised 15 vacancies for specialist product managers to work on an Uttar Pradesh government scheme for micro, small and medium enterprises (MSMEs). BoB is also on the lookout for an executive to head its new MSME business vertical.

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    08:35 (IST)11 Sep 2019
    Oil prices rise after data shows big drop in US inventories

    Oil prices rose on Wednesday after an industry report showed that crude stockpiles in the U.S. fell last week by more than twice the amount that analysts had forecast. Brent crude futures rose 43 cents, or 0.7%, to $62.81 a barrel by 0053 GMT, while WTI futures were up 47 cents, or 0.8%, to $57.87 a barrel. Prices had ended lower on Tuesday, squeezed by speculation of a return of sanctions-hit Iranian crude exports to the market following United States President Donald Trump’s move to fire national security adviser John Bolton, a noted Iran policy hawk. But they rebounded after American Petroleum Institute (API) data released late on Tuesday showed U.S. crude and gasoline stocks fell last week, while distillate stocks built.

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    08:35 (IST)11 Sep 2019
    Gold prices inch up amid cautious mood; investors eye European Central Bank meet

    Gold prices edged up on Wednesday, but hovered near a four-week low hit in the previous session as risk appetite improved amid hopes of an interest rate cut by the European Central Bank and fiscal stimulus measures from Germany, Europe’s largest economy.  Spot gold was up 0.4% at $1,491.60 per ounce, as of 0120 GMT. In the previous session, prices fell to their lowest since Aug. 13 at $1,483.90.  U.S. gold futures were flat at $1,499.3 an ounce.

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    Share Market Live Updates: BSE/NSE Sensex, Nifty Share Price Live