Share market Highlights: Sensex ends 180 points up, Nifty above 10,700; Bharti Airtel, HDFC twins rally

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Updated:Dec 26, 2018 5:02:51 pm

Share market Highlights: The domestic stock markets made a smart recovery on Wednesday afternoon, recovering more than 639 points from the day's lows. The 30-share Sensex closed 179.79 points higher to 35,649.94, while the Nifty closed above the 10,700-mark.

stock market live updates, BSE, NSE, sensex, nifty, market cap, Indian Stock MarketShare market Highlights: The 30-share Sensex closed 179.79 points higher to 35,649.94, while the Nifty closed above the 10,700-mark.

Share market Highlights: The domestic stock markets made a smart recovery on Wednesday afternoon, recovering more than 639 points from the day’s lows. The 30-share Sensex closed 179.79 points higher to 35,649.94, while the Nifty closed above the 10,700-mark. The recovery in the indices was led by bluechips Bharti Airtel and HDFC twins. Bharti Airtel closed 4.2% higher at Rs 322 on BSE, while HDFC Bank and HDFC shares gained by more than 2% each. Earlier, the Sensex had plunged 459 points to intra-day low of 35,010.82, while the Nifty was trading below 10,550 level. Yes Bank share price plunged by nearly 4% to Rs 174.25.

Earlier, President Donald Trump’s attacks on the Federal Reserve spooked the stock market on Christmas Eve, and efforts by his Treasury secretary to calm investors’ fears only seemed to make matters worse, contributing to another day of heavy losses on Wall Street on Monday. He had also ruled out an end to the partial government shutdown till the Congress approve funds for building a wall along the Mexican border to prevent entry of illegal immigrants.

The major stock indexes fell more than 2 percent Monday, nudging the market closer to its worst year since 2008. Stocks are also on track for their worst December since 1931, during the depths of the Great Depression, Reuters reported. We bring to you LIVE updates.

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16:36 (IST)26 Dec 2018
Anil Ambani’s RCom says committed to pay outstanding spectrum dues, as deal with Jio hangs in balance

Anil Ambani-led Reliance Communications Ltd said on Wednesday that it remains committed to paying its outstanding dues, even as the telco’s proposed deal with Mukesh Ambani-controlled Reliance Jio remains uncertain. RCom said it hopes to get long-awaited consent from DoT for its spectrum sale to Reliance Jio Infocomm. “RCOM being a continuing licensee remains committed to discharge any outstanding or disputed amount subject to final adjudication,” RCom said in a notice to the stock exchanges. The move comes in a response to various media reports, saying that the Department of Communications (DoT) has rejected the deal as it does not conform to its guidelines.

Read full story here: Anil Ambani’s RCom says committed to pay outstanding spectrum dues, as deal with Jio hangs in balance

15:44 (IST)26 Dec 2018
BSE Live: Sensex ends 180 points up, Nifty above 10,700; Bharti Airtel, HDFC twins rally

The domestic stock markets made a smart recovery on Wednesday afternoon, recovering more than 639 points from the day's lows. The 30-share Sensex closed 179.79 points higher to 35,649.94, while the Nifty closed above the 10,700-mark. The recovery in the indices was led by bluechips Bharti Airtel and HDFC twins. Bharti Airtel closed 4.2% higher at Rs 322 on BSE, while HDFC Bank and HDFC shares gained by more than 2% each. A look at LIVE Sensex heat map.

15:25 (IST)26 Dec 2018
Revisiting IBC in 2018: Why bank recoveries are likely to improve next year; but these challenges remain

As insolvency resolutions of large cases including Essar Steel and Bhushan Power are expected to speed up, recoveries from banks and financial institutions may improve under the Insolvency and Bankruptcy Code (IBC) in 2019. Of the total claims of Rs 1,26,303 crore, the creditors could recover Rs 58,385.23 crore on the cases that were successfully resolved under IBC, data analysed by The Indian Express showed. However, the analysed data doesn’t include the insolvency cases for which liquidation orders have already been passed as it’s difficult to evaluate the recovery made in these cases until their completion.

Also read: Revisiting IBC in 2018: Why bank recoveries are likely to improve next year; but these challenges remain

14:58 (IST)26 Dec 2018
BSE Live: Sensex zooms 200 points, Nifty near 10,750; HDFC twins rally

The domestic stock markets made a smart recovery in the afternoon trade, on Wednesday. The 30-share Sensex has recovered more than 670 points from the day's low to 35,682.28, while the Nifty is trading near 10,750. The recovery in the indices is being led by HDFC Bank and HDFC shares, which are up more than 1.5% each. A look at Live heatmap. 

14:18 (IST)26 Dec 2018
Asian stocks lose whopping $5.6 trillion in 2018; investors brace for more volatility ahead

With about four days of Asia equity trading left for the year and low volumes across the board, traders don’t seem to be taking any chances. About $5.6 trillion of equity value has been obliterated in the region this year as the global carnage shows no let-up. And investors are bracing for volatile days ahead. The MSCI Asia Pacific Index, which climbed as much as 0.6 percent earlier Wednesday, swung between gains and losses and sat 0.2 percent higher as of 2:10 p.m. in Hong Kong. Japan’s Nikkei 225 Stock Average also had a choppy day but ultimately closed up 0.9 percent after entering a bear market on Christmas Day. And U.S. stock-index futures swung between gains and losses, with the S&P 500 Index on the brink of entering a bear market. Hong Kong and Australia remain closed for a holiday.

Read full story here: Asian stocks lose whopping $5.6 trillion in 2018; investors brace for more volatility ahead

13:04 (IST)26 Dec 2018
Investment through P-notes rises to Rs 79,247 crore in November

Investments in the Indian capital market through participatory notes climbed to Rs 79,247 crore in November after hitting a nine-and-a-half year low at the end of preceding month. P-notes are issued by registered foreign portfolio investors (FPIs) to overseas investors who wish to be part of the Indian stock market without registering themselves directly. They, however, need to go through a due diligence process. According to Sebi data, the total value of P-note investments in Indian markets — equity, debt, and derivatives — rose to Rs 79,247 crore till November-end from Rs 66,587 crore at October-end. (PTI reported).

Read full story here: Investment through P-notes rises to Rs 79,247 crore in November

12:54 (IST)26 Dec 2018
Gold price update: Gold climbs to six-month peak on waning risk appetite

Gold prices hit a six-month high on Wednesday as concerns over global growth and a partial government shutdown in the United States fuelled risk aversion, prompting investors to seek refuge in the metal. Spot gold climbed 0.3 percent to $1,271.85 per ounce as at 0429 GMT. The metal hit $1272.56 in early trade, its highest since June 20. U.S. gold futures were up 0.3 percent at $1,275.8 per ounce. Investors are uneasy about global economical growth and are seeking gold as a safe-haven, said Yuichi Ikemizu, Tokyo branch manager at ICBC Standard Bank, adding the sharp sell-off in stock markets has also lent support. (Reuters reported)

12:51 (IST)26 Dec 2018
BSE Live: Sensex recovers from lows, Nifty above 10,600; Yes Bank, IndusInd Bank stocks plunge

The domestic stock markets have recovered from the day's lows in the afternoon trade on Wednesday. The 30-share Sensex is now trading at 35,220.86, about 210 points up from intra-day low while the Nifty is above the 10,600 mark. Yes Bank shares are trading 3% down to Rs 176.45, while private sector lender IndusInd Bank share price is also trading 2.3% lower at Rs 1,527. A look at Sensex live hatmap. 

12:07 (IST)26 Dec 2018
India’s exports performance good despite global headwinds; but here’s why Suresh Prabhu isn’t happy

India is preparing a specific strategy for exports to each geography as part of plans to make 2019 a year when outward shipments would start driving the country’s overall economic growth, Commerce and Industry Minister Suresh Prabhu has said. The minister said India’s exports performance has been “extremely good” in the past 14 months, but he is not fully satisfied as yet and the plans for 2019 also include a special focus on boosting shipments to the African continent and Latin America given huge growth potential there. He said the Indian exports are growing at a time when the global trade is witnessing worst ever headwinds, countries are fighting at import duty front and there is increasing protectionism and slowdown in demand.

Also read: India’s exports performance good despite global headwinds; but here’s why Suresh Prabhu isn’t happy

11:44 (IST)26 Dec 2018
Global market update: Asian stocks retreat as US political tumult adds to growth worry

Asian stock markets retreated again on Wednesday, extending a rout that began last week as U.S. political uncertainty exacerbated worries over slowing global economic growth. Investors were unnerved by the U.S. federal government partial shutdown and President Donald Trump's hostile stance towards the Federal Reserve chairman. U.S. Treasury Secretary Steven Mnuchin had also raised market concerns by convening a crisis group amid the pullback in stocks. S&P 500 emini futures were last down 0.6 percent, pointing towards a lower start for Wall Street when the U.S. market reopens after Christmas Day, when many of the world's financial markets were shut, Reuters reported.

11:09 (IST)26 Dec 2018
BSE Live:Maruti Suzuki share price slumps 1.7% after firm recalls 5,900 Super Carry units to fix faulty fuel filter

Shares of India's largest car maker Maruti Suzuki plunged in trade on Wedndesday morning after the firm announced that it will recall 5,900 units of its light commercial vehicle Super Carry to replace faulty fuel filter. Maruti Suzuki share price slumped by more than 1.7% to Rs 7,402. Maruti Suzuki India (MSI) said it is recalling 5,900 units of its light commercial vehicle Super Carry to replace faulty fuel filter. The company will inspect a possible defect in fuel filter of 5,900 Super Carry vehicles manufactured between April 26, 2018, and August 1, 2018, MSI said in a regulatory filing. The recall also includes vehicles in which fuel filter has been replaced in field during this period, it added. 

10:50 (IST)26 Dec 2018
After Arun Jaitley says moving towards standard GST rate, Chidambaram asks why govt’s goals are changing

Just two after Finance Minister Arun Jaitley said that the GST framework is moving towards single standard rate, veteran Congress leader P Chidambaram on Wednesday raised questions on what’s leading to this change in government’s stance. “Until yesterday a single standard rate of GST was a stupid idea. Since yesterday, it is the declared goal of the government!”, former Finance Minister said in a series of tweets. “Until yesterday capping GST at 18 per cent was impracticable. Since yesterday, the Congress party’s original demand of an 18 per cent cap is the declared goal of the government!”, he added.

Also read: After Arun Jaitley says moving towards standard GST rate, Chidambaram asks why govt’s goals are changing

10:36 (IST)26 Dec 2018
BSE Live: Sensex plunges 450 pts, Nifty below 10,550; Yes Bank, Sun Pharma down up to 4%

After opening lower, the domestic stock markets extended losses in the morning trade on Wednesday, as investors turned jittery over political uncertainty in the US and fears of a global economic slowdown amid heavy selloff by foreign investors. The Sensex is down about 459 points to 35,010.82, while the Nifty is trading below 10,55 level. Yes Bank share price plunged by nearly 4% to Rs 174.25. Top losers include Yes Bank, TCS, HUL, Kotak Bank, M&M, Sun Pharma, Tata Motors, Infosys, Bajaj Auto, Tata Steel, Reliance, ICICI Bank and SBI, falling up to 3 per cent.  A look at Sensex heat map.

10:16 (IST)26 Dec 2018
Rupee rises 36 paise to 69.78 per US dollar in morning trade on falling crude prices

The rupee opened strong at 69.93 per US dollar on Wednesday from the previous close of 70.13 per US dollar on Monday, mainly on account of sharp fall in crude oil prices. The domestic currency gained further strength and was trading at 69.78 a dollar, up 36 paise from the previous close in the early morning trading, according to data available on Bloomberg. On Monday, the rupee recovered by 4 paise to close at 70.14, on lower crude oil prices and dollar’s losses in global markets due to political uncertainty in the US.

Also read: Rupee rises 36 paise to 69.78 per US dollar in morning trade on falling crude prices

10:01 (IST)26 Dec 2018
Bank strike: Bank workers at it again: Second nation-wide strike within a week

Banking operations will be affected Wednesday as close to 10 lakh employees of various public sector and some of the private and foreign banks are on a day-long strike to protest against the proposed merger of Vijaya Bank and Dena Bank with Bank of Baroda. The nation-wide strike would impact banking services like deposits and withdrawal at branches, cheque clearances and issuance of demand drafts, among others. In September, the government had announced merger of state-owned Vijaya Bank and Dena Bank with the larger peer Bank of Baroda. The merged entity will have a combined business of Rs 14.82 trillion, making it the third largest bank after State Bank of India (SBI) and HDFC Bank. (PTI reported)

09:42 (IST)26 Dec 2018
BSE Live: HUL share price down 2.3% after Rs 535 crore fine by anti-profiteering body

Shares of India's major FMCG player Hindustan Unilever plunged in trade on Wednesday morning after the firm was asked to pay a fine of Rs 585 crore by the NAA. HUL share price tanked by more 2.3% to hit the day's low at Rs 1,784. The National Anti-Profiteering Authority (NAA) has been probing HUL among other firms for allegedly not passing the GST rate cut benefit to consumers. According to a report by CNBC TV18, the NAA report concluded that HUL profiteered Rs 495 crore by not passing the benefit of the rate cut to consumers. The company said that it is yet to receive NAA order but maintained that it has passed the rate cut benefit either through discounts, price cuts or through the increase in grammage, the channel reported.

Also read: Hindustan Unilever slapped Rs 380 crore fine by anti-profiteering body – Here are the findings of NAA

09:23 (IST)26 Dec 2018
BSE Live:Sensex down 200 pts, Nifty near 10,600; HUL shares tank 2%

The domestic stock markets– Sensex and Nifty –opened lower on Wednesday morning tracking weak global cues. Sensex tanked 211 points to 35,258.97, while the broader Nifty 50 was trading near 10,600. HUL share price plunged by nearly 2% to 1,750.80, and Sun Pharma share price tanked by more than 1.2%. A look at Sensex heat map.

09:10 (IST)26 Dec 2018
Global stock markets under cloud as US political tumult adds to growth anxiety

Global stock markets headed into the year-end under a heavy cloud after another rout this week as U.S. political uncertainty added to heightened concerns over slowing global economic growth. Asian equities were shaky on Wednesday following a Christmas eve Wall Street plunge, as investors were unnerved by U.S. political developments including a U.S. federal government shutdown and President Donald Trump’s hostile stance towards the Federal Reserve chairman.

Read full story here: Global stock markets under cloud as US political tumult adds to growth anxiety

09:09 (IST)26 Dec 2018
US stock futures slide as S&P 500 verges on a bear market

U.S. stock-index futures extended their losses, signaling that the benchmark for American equities could enter a bear market when cash markets reopen on Dec. 26. March contracts on the S&P 500 Index slipped 0.4 percent as of 10:48 a.m. in Singapore, after plunging as much as 1.1 percent and rising as much as 0.5 percent in volatile trading. Futures on the Nasdaq 100 Index and Dow Jones Industrial Average fell 0.5 percent each. The benchmark gauge for American equities is 7 points away from completing a full-blown bear market drop.

Read full story here: US stock futures slide as S&P 500 verges on a bear market

09:07 (IST)26 Dec 2018
US dollar slips to 4-month low vs yen amid turmoil in Washington

The dollar fell against the safe-haven yen and Swiss franc on Tuesday as investors cut their exposure to riskier assets amid the partial U.S. government shutdown and signs of confrontation between the White House and the Federal Reserve. The dollar fell 0.39 percent to 110.00 yen, its lowest level since late August and is set to fall for an eighth straight session against the Japanese currency, with London and New York shut for Christmas. The yen also hit a 16-month high against the British pound, trading at 139.90 yen and a four-month high against the euro, at 125.60 yen. The Swiss franc rose 0.2 percent against the dollar to a 12-week high of 0.98355 to the dollar, extending its 0.9 percent rise on Monday, its biggest daily gain in 11 months.

Also read: US dollar slips to 4-month low vs yen amid turmoil in Washington

09:06 (IST)26 Dec 2018
US crude oil prices rebound after tumbling to lowest since June 2017 on economy fears

Oil prices were mixed in thin trading on Wednesday as the U.S. benchmark rebounded from steep losses in the previous session, even though concern over the health of the global economy continued to overshadow the market in the longer term. U.S. West Texas Intermediate (WTI) crude futures, were up 35 cents, or 0.82 percent, at $42.88 per barrel, at 0152 GMT, having at one point risen as high as 2 percent from the last close. They had slumped 6.7 percent in the previous session to $42.53 a barrel – the lowest since June 2017.

Read full story here: US crude oil prices rebound after tumbling to lowest since June 2017 on economy fears

Share market on Monday: The domestic stock markets ended lower on Monday, after turning choppy late afternoon, tracking mixed global cues. The Sensex closed 271.92 points lower at 35,470.15, while the Nifty 50 closed  below the 10,700 level. Heromotocorp and Bajaj Auto shares emerged among top losers, tanking up to 4.5%. Shares of Infosys gained by more than 1.1% to Rs 658, while shares of Bharti Airtel were up by more nearly 1.1% to Rs 312.30 on the BSE. TCS share price gained by 1.7% to Rs 1,929.30. Shares of Bandhan Bank plunged by 4% to Rs 506, after the bank clarified saying that it is not aware of talks with HDFC to pick up a controlling stake in Gruh Finance.
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