Share market Highlights: Sensex ends 8 points down; Nifty above 10,850; Tata Steel, VEDL among top gainers

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Updated: December 31, 2018 4:54:28 pm

Share market Highlights: After opening higher on Monday tracking positive global cues, Sensex and Nifty turned negative in the afternoon trade. The Sensex ended 8 points down to 36,068.37, while the Nifty 50 closed above 10,850.

Share Market Live, Stock Market Live, Nifty Live, NSE live, BSE live, Live Market Update, Market Today, Indian Share Market Live, Indian Stock Market LiveShare market Highlights: Jet Airways share price rallied by more than 2.75% to hit the day’s high at Rs 278, after reports of talks with SBI for Rs 1,500 crore loan.

Share market Highlights: After opening higher on Monday tracking positive global cues, Sensex and Nifty turned negative in the afternoon trade. The Sensex ended 8 points down to 36,068.37, while the Nifty 50 closed above 10,850. Jet Airways share price rallied by more than 2.75% to hit the day’s high at Rs 278, after reports of talks with SBI for Rs 1,500 crore loan. Earlier, Sensex rallied by more than 182 points to 36,285.46 in the opening trade while the Nifty 50 is trading above the 10,850 mark. Kotak Mahindra Bank shares slumped about 0.5% to Rs 1,237.20, as December 31st is the last day according to RBI for Uday Kotak’s to cut stake in the bank. Jewellery-maker Titan shares gained by more than 4% to hit the day’s high at Rs 925.75.

Earlier,  Singaporean and Malaysian stocks rose on Monday in thin year-end trading as a phone call between U.S. and Chinese leaders spurred hopes that the two economic heavyweights would reach a deal that could ease their damaging trade standoff, Reuters reported. Here’s a look at the highlights.

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Highlights

    15:46 (IST)31 Dec 2018
    BSE Live: Sensex ends 8 points down; Nifty above 10,850; Tata Steel, VEDL among top gainers

    After opening higher on Monday tracking positive global cues, Sensex and Nifty turned negative in the afternoon trade. The Sensex ended 8 points down to 36,068.37, while the Nifty 50 closed above 10,850. Jet Airways share price rallied by more than 2.75% to hit the day's high at Rs 278, after reports of talks with SBI for Rs 1,500 crore loan. A look at Sensex heat map.

    15:15 (IST)31 Dec 2018
    These startups may turn unicorns in 2019

    Fundraising activity in startups again picked up pace in the year 2018 in mid and late stage deals, after slowing down in 2016-2017 from the frantic deal-making in 2015 and early 2016. Consequently, eight new startups were catapulted to the hallowed unicorn (valuation of a privately held company at over $1 billion) club in 2018 — highest number in any year so far. FE Online digs through existing startups in India that have seen their valuation jumping anywhere from 2x to 7x in their last funding rounds.

    Also read: These startups may turn unicorns in 2019

    14:31 (IST)31 Dec 2018
    How Modi govt fared so far? Track govt’s real time performance using this website

    After the ruling BJP-led government completed its four years of stay in centre earlier this year, it came out with a digital dashboard to showcase its achievements. The performance dashword on the website, MyGov.in, as the Modi government named it, shows the “real time updates” on its flagship schemes. The website, which is dense on infographics, also lists the number of beneficiaries of each of the schemes launched by the government to date.

    Also read: How Modi govt fared so far? Track govt’s real time performance using this website

    13:14 (IST)31 Dec 2018
    Amid rising cyber-attacks, data breach, here’s how cyber risk insurance can help firms mitigate risk

    Continuous advancement in technology and hyper-connectedness of users and systems over the internet and social media have transformed business models, deepened existing customer relations and created opportunities for organisations to tap into potentially profitable markets. Whilst these improvements bring success to organisations, they also widen the scope for cyberattacks having serious implications on the working of an organization.

    Read full story here:  Amid rising cyber-attacks, data breach, here’s how cyber risk insurance can help firms mitigate risk

    12:55 (IST)31 Dec 2018
    India in 2018: Airlines survive mid-air scares amid oil shocks, policy promises, high passenger growth

    Navigating through tail winds and air pockets, the country’s aviation space imbibed high passenger growth, battled oil shocks as well as survived mid-air scares in 2018, with the government focused on making flying “as good as possible” in the new year. From spiralling costs and cut-throat competition pushing airlines into the red to government initiatives aimed at boosting the fast-growing sector, a mixed baggage greeted the stakeholders. India remained the world’s fastest growing domestic aviation market with 51 straight months of doubled-digit traffic growth but the woes of passengers as well as carriers manifested in myriad forms.

    Also read: India in 2018: Airlines survive mid-air scares amid oil shocks, policy promises, high passenger growth

    12:45 (IST)31 Dec 2018
    BSE Live: Sensex turns negative; Nifty nears 10,850; Jet Airways, Titan zoom up to 4%

    After opening higher tracking positive global cues, the Sensex and Nifty turned negative in the afternoon trade. The Sensex is down about 25 points to 36,056.77, while the Nifty 50 is trading near the 10,850-level. Jet Airways share price rallied by more than 2.75% to hit the day's high at Rs 278, after reports of talks with SBI for Rs 1,500 crore loan. A look at live heatmap.

    12:12 (IST)31 Dec 2018
    Massive jump in bank frauds! Banks lost this much to frauds in fiscal 2017-18, shows RBI data

    Frauds in Indian banking system rose 72% in the financial year 2017-18 as the fraudsters looted a whopping Rs 41,167.7 crore from the banks as against Rs 23,933 crore in the year-ago period, according to latest data by the Reserve Bank of India (RBI). This happened despite stringent monitoring and vigilance by banks. However, the rise in fraud cases is also due to Rs 13,000-crore Punjab National Bank (PNB) fraud case, involving diamantaires Nirav Modi and his maternal uncle and partner Mehul Choksi. 

    Read full story here: Massive jump in bank frauds! Banks lost this much to frauds in fiscal 2017-18, shows RBI data

    11:49 (IST)31 Dec 2018
    National polls, trade war and crude oil: A cautious new year ahead for Dalal Street

    Stock market is expecting a volatile year ahead with a host of domestic and international factors expected to drive its movement and these include national elections, a pre-poll union budget, trade war issues and crude oil prices. Experts believe the overall movement for the benchmark Sensex may also end up in 2019 at around 5 per cent, the same as 2018. “The first few months of 2019 are likely to be volatile as it will be very event-heavy. Markets like certainty and continuity and post the events, markets should stabilise,” Essel Mutual Fund CEO Viral Berawala said. 

    Read full story here: National polls, trade war and crude oil: A cautious new year ahead for Dalal Street

    11:36 (IST)31 Dec 2018
    EPFO may give subscribers option to increase stock investments in new year

    Subscribers of the retirement fund body EPFO may get an option in the new year to invest more of their savings in equity market, besides a host of other social security benefits and digital tools to manage their funds. At present, the Employees’ Provident Fund Organisation (EPFO) invests up to 15 per cent of its investible deposits into the exchange traded funds (ETFs) and so far such investments total about Rs 55,000 crore. However, the ETF investments do not reflect in members’ account and they do not have an option to increase the proportion of their retirement savings to be invested into stocks.

    Read full story here: EPFO may give subscribers option to increase stock investments in new year

    11:07 (IST)31 Dec 2018
    Expert take: Stock markets in 2019: How mobile apps, internet growth may sharply shore up number of equity investors

    It seems, circa 2018 would go down as one of the most unpredictable years in the recent history of Indian markets. It is one of those years, when almost everyone failed to some extent in their views about the market. This proved the often used phrase “market has its own mind” and any amount of understanding and long-term analysis could be demolished at a single stroke. My good friend says, “the market drama this year was written by a Bollywood script writer who knows how to defy logic and produce last minute surprises and just when things go steady, there would be another twist.” The good thing is that despite the volatility and multiple turns on the road, no one disagrees that Indian equity remains one of the best wealth creation opportunities in the world in the long-run.

    Also read: Stock markets in 2019: How mobile apps, internet growth may sharply shore up number of equity investors

    10:42 (IST)31 Dec 2018
    RCom extends agreements with Mukesh Ambani's Reliance Jio Infocomm

    'Reliance Communications Ltd. (RCOM) today announced that RCOM and Reliance Jio Infocomm Ltd. have extended the validity of the agreements signed on 28th December 2017 for sale of Towers, Fiber, MCNs and Spectrum of RCOM and its affiliates to 28th June 2019. The transactions are to be consummated subject to various approvals that are presently in progress,' RCom announced in a stock exchange filing.

    10:26 (IST)31 Dec 2018
    2019 stock market outlook: Invest in largecaps, midcaps; IT, pharma, FMCG, infra stocks offer good bets

    In the year that has gone by, markets faced many events like potential threat of trade wars, rising of interest rates in the US, very sharp spikes in Crude Oil prices, volatile domestic currency, regional conflicts in the Asia Pacific getting escalated between the US and the North Korea at one point of time, the State Elections in India and more. All of these factors kept the markets on tenterhooks for couple of times in the year. Importantly, the year that has gone by, has also remained important from the technical perspective.

    Read full story here: 2019 stock market outlook: Invest in largecaps, midcaps; IT, pharma, FMCG, infra stocks offer good bets

    10:09 (IST)31 Dec 2018
    Jet Airways share price zooms 3% after reports of talks for Rs 1,500 crore loan from SBI

    Shares of India's major private sector airline Jet Airways gained in trade on Monday morning after reports of the carrier being in talks with SBI for a Rs 1,500 crore loan. Jet Airways share price rallied by more than 2.75% to hit the day's high at Rs 278. Jet Airways is in discussions with the State Bank of India for raising Rs 1,500 crore short-term loan to meet its working capital requirement and some payment obligations, PTI reported on Saturday, qouting a source as saying. Jet Airways strategic partner and Middle-east carrier Etihad, which holds 24 per cent stake in the Indian full service carrier, is likely to provide guarantee for the loan, the a agency report added, citing the same source.

    Also read: Jet Airways in talks with SBI for Rs 1,500-cr loan

    09:41 (IST)31 Dec 2018
    Rupee opens higher at 69.78 per US dollar; 10-year bond yield falls to 7.37%

    After appreciating about 40 paise on Friday to close the day 69.93 against the US currency, the rupee gained further strength and opened 15 paise at 69.78 per US dollar from the previous close. On the other hand, in bond markets, the 10-year government yield started at 7.37% against a previous close of 7.39%. On Friday, the domestic currency rose 40 paise to finish at an over one-week high of 69.95 per US dollar on strong dollar buying by banks and exporters amid the US currency’s weakness overseas.’

    Read full article here: Rupee opens higher at 69.78 per US dollar; 10-year bond yield falls to 7.37%

    09:30 (IST)31 Dec 2018
    BSE Live: Sensex up 100 pts, Nifty above 10,850

    The domestic stock markets-- Sensex and Nifty --opened higher tracking positive gobal cues from Asian markets. The 30-share Sensex rallied by more than 182 points to 36,285.46 in the opening trade while the Nifty 50 is trading above the 10,850 mark. Kotak Mahindra Bank shares slumped about 0.5% to Rs 1,237.20, as December 31st is the last day according to RBI for Uday Kotak's to cut stake in the bank.

    09:12 (IST)31 Dec 2018
    Oil prices rise, but set for first annual decline since 2015

    Oil prices edged higher on the last trading day of the year on Monday, taking a cue from firmer stock markets, but remain on track for the first yearly decline in three years amid concerns of a supply glut. Hints of progress on a possible U.S.-China trade deal helped bolster sentiment, which has been battered by concerns over a weaker global economic outlook. Brent crude futures – the international benchmark for oil prices – rose 17 cents, or 0.3 percent, to $53.38 a barrel by 0115 GMT. Brent has shed about 20 percent in 2018 following two years of successive growth.

    Also read: Oil prices rise, but set for first annual decline since 2015

    09:11 (IST)31 Dec 2018
    Asian stocks pin hopes on Sino-US talk, as year ends deep in the red

    Asian stocks crept higher on Monday as hints of progress on the Sino-U.S. trade standoff provided a rare glimmer of optimism in what has been a rough year-end for equities globally. Survey data out of China, however, proved unhelpfully mixed with manufacturing activity contracting for the first time in two years even as the service sector improved. Sentiment had brightened just a touch when U.S. President Donald Trump said he held a “very good call” with China’s President Xi Jinping on Saturday to discuss trade and claimed “big progress” was being made.

    Also read: Asian stocks pin hopes on Sino-US talk, as year ends deep in the red

    09:09 (IST)31 Dec 2018
    Gold inches lower as US-China trade talks boost risk appetite

    old prices fell slightly on Monday as Asian equities benefited from hints of progress on the long-drawn China-U.S. trade spat, while the dollar held steady in a narrow range.  Spot gold inched marginally lower to $1,280.20 per ounce at 0048 GMT, but was not far off Friday’s six-month high of $1,282.09. U.S. gold futures dipped 0.1 percent to $1,282 per ounce.

    Read full story here: Gold inches lower as US-China trade talks boost risk appetite

    09:08 (IST)31 Dec 2018
    Dollar steady; Aussie gains on US-China trade developments

    The dollar traded narrowly against its peers on Monday, as risk sentiment remained fragile over heightened concerns of slowing global growth and a partial U.S. government shutdown. Markets will be closely watching the progress of trade talks between Washington and Beijing in the new year. In a tweet which would come as a sigh of relief to the markets, U.S. President Donald Trump said on Sunday that he had a “long and very good call” with his Chinese counterpart Xi Jinping and that a possible trade deal between the United States and China was progressing well.

    Also read: Dollar steady; Aussie gains on US-China trade developments

    09:07 (IST)31 Dec 2018
    Wall Street may gain Monday but unlikely to mute December losses

    Investors could see one last boost to Wall Street stocks in the final trading session of the year on Monday, but they do not expect gains to offset losses in the worst December since the 1930s. “I think there’s a chance that the market could rally into the end of the year,” said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma. Potential for positive news on a trade dispute with China and anticipation of coming remarks from Federal Reserve Chairman Jerome Powell could lift the market, Dollarhide said. Still, no matter how strong any potential rally is, market unease is expected to remain.

    Also read: Wall Street may gain Monday but unlikely to mute December losses

    Share market on Friday: After opening higher on Friday, Sensex and Nifty managed to hold gains on the back of a strong rally in financials and auto stocks. Sensex closed 269.44 points up, while Nifty closed above the 10,850-mark. Sun Pharma shares ended 3% higher to Rs 424.55. Bajaj Finance shares ended 2.1% higher at Rs 2,636.75. ICICI Bank share price zoomed by more than 2% intra-day to Rs 362.80. Lemon Tree Hotels share price gained by more than 14% intra-day to hit the day’s high at Rs 77.80, after joint venture with Warburg Pincus associate. Yes Bank share price gained by more than 2.1% to Rs 182, while ICICI Bank shares zoomed 1.3% to Rs 360.20. The rally was being led by financials, pharma and auto stocks.
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