Share market highlights: Sensex ends 77 points up, Nifty surges past 10,900; Sun Pharma zooms 3%

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Updated:Dec 18, 2018 4:26:54 pm

Share market Highlights: After opening lower tracking Asian and US markets, Sensex and Nifty reversed losses in the afternoon trade, led by a rally in the shares of Sun Pharma and Vedanta. The 30-share index closed 77 points higher at 36,347.08, while the Nifty ended above the 10,900-mark.

Share market Highlights: Sensex is trading 92 points higher at 36,362.83, while the Nifty 50 is trading above the 10,900-level.

Share market Highlights: After opening lower tracking Asian and US markets, Sensex and Nifty reversed losses in the afternoon trade, led by a rally in the shares of Sun Pharma and Vedanta. The 30-share index closed 77 points higher at 36,347.08, while the broader Nifty 50 surged past the 10,900-mark. Earlier, the Sensex slumped 213 points in the opening trade to 36,047.49 after S&P 500 closed at a 14-month low on concerns about slowing economic growth. Sun Pharma share price gained by more than 3.3% to hit the day’s high at 434.90.  

Earlier, the SGX Nifty was trading 38 points lower indicating a negative start for Sensex and Nifty. Asian share markets slumped on Tuesday as heightened concerns about a slowing global economy sent Wall Street stocks skidding to their lowest levels in more than a year. MSCI’s broadest index of Asia-Pacific shares outside Japan shed 0.3 percent in mid-morning trade while Japan’s Nikkei tumbled 1.2 percent by the midday break. We bring to you live updates.

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Share Market Highlights: Sensex, Nifty, Indian Rupee vs US Dollar, Latest Stock Market News, NSE, BSE

15:44 (IST)18 Dec 2018
BSE Live: Sensex ends 77 points up, Nifty surges past 10,900; Sun Pharma zooms 3%

After opening lower tracking Asian and US markets, Sensex and Nifty reversed losses in the afternoon trade, led by a rally in the shares of Sun Pharma and Vedanta. The 30-share index closed 77 points higher at 36,347.08, while the broader Nifty 50 surged past the 10,900-mark. A look at live heat map.

15:17 (IST)18 Dec 2018
BSE Live:Sensex reverses losses, Nifty above 10,900; Sun Pharma rallies 2.5%

After opening lower, amid weak global cues, Sensex and Nifty reversed losses on Tuesday afternoon led by a rally in the shares of Tata Motors and Sun Pharma. Sensex is trading 92 points higher at 36,362.83, while the Nifty 50 is trading above the 10,900-level.  Sun Pharma share price gained more than 3% to hit Rs 434 on the index. A look at live heatmap.

13:30 (IST)18 Dec 2018
Here’s how to get refund on unclaimed dividends on your physical shares in four easy steps

Even as SEBI continues to lay emphasis on getting investors to convert all their physical shareholdings into demat form in order to facilitate easy transfer and improving transparency of holdings, many investors may be wondering about how to get refund for unclaimed dividends from IEPF account. Notably, in the case investors who hold physical shares have not claimed dividend for seven consecutive years, the shares will be transferred to IEPF (Investor Education and Protection Fund) account. Investor Education and Protection Fund (IEPF) has been set up for the promotion of investors’ awareness and protection of the interests of investors. By following the below mentioned easy steps, the investors can reclaim their dividends from IEPF.

Read full story here: Here’s how to get refund on unclaimed dividends on your physical shares in four easy steps

12:47 (IST)18 Dec 2018
Ola's big plan! To invest $100 million in Vogo

Ride hailing platform Ola Tuesday said it is investing USD 100 million in Vogo, a scooter-sharing platform. 'Ola will boost Vogo's supply by investing in 1,00,000 scooters on the Vogo platform, worth USD 100 million. This infusion will give Vogo a strategic supply advantage without having to incur significant capital expenditure,' Ola said in a statement. Additionally, Vogo's offerings will also be available for Ola's over 150 million customers, directly from the Ola app soon, it added. Ola has also invested in Vogo as part of the latter's series A fundraising that saw participation from Matrix Partners India and Stellaris Venture Partners.

12:06 (IST)18 Dec 2018
IL&FS group stocks gain up to 9.5% on asset monetisation plan

Shares of beleaguered group IL&FS gained in trade on Tuesday afternoon, after it announced an asset monetisation plan. IL&FS group said on Monday it initiated steps for monetisation of its domestic roads vertical. Following the development, IL&FS Engineering and Construction Co Ltd , IL&FS Transportation Networks Ltd and IL&FS Investment Managers rose between 4.8% and 9.3%. The group, which is under severe cash crunch, has defaulted on multiple debt paymentsILFS' stock posted it’s biggest intra-day pct gain since October 3rd, while that of ILFT recorded its biggest daily percentage gain since October 4th.

11:46 (IST)18 Dec 2018
Infibeam Avenues share price gains 3.5% after alliance with Suvidhaa Infoserve

Shares of Infibeam Avenues gained in trade on Tuesday morning after the firm announced an alliance with Suvidhaa Infoserve for last-mile delivery of financial products and services. Infibeam Avenues share price gained by more than 3.5% to Rs 50.50 on BSE. In a statement yesterday, Infibeam Avenues said that both companies are planning to develop an omni-channel marketplace, whereby Infibeam.com will be connected to Suvidhaa's vast network of 91,000 outlets under 4,500 pin codes, a statement said.

11:37 (IST)18 Dec 2018
Infibeam Avenues share price gains 3.5% after alliance with Suvidhaa Infoserve

Shares of Infibeam Avenues gained in trade on Tuesday morning after the firm announced an alliance with Suvidhaa Infoserve for last-mile delivery of financial products and services. Infibeam Avenues share price gained by more than 3.5% to Rs 50.50 on BSE. In a statement yesterday, Infibeam Avenues said that both companies are planning to develop an omni-channel marketplace, whereby Infibeam.com will be connected to Suvidhaa's vast network of 91,000 outlets under 4,500 pin codes, a statement said.

11:22 (IST)18 Dec 2018
BSE Live: Glenmark Pharma share price gains 1% after USFDA approval for for Fluocinolone Acetonide Oil

Shares of drugmaker Glenmark Pharma gained in trade on Tuesday morning, after the firm announced that it has received USFDA approval for or Fluocinolone Acetonide Oil, used to treat eczema of the ear. Glenmark Pharma share price gained by more than 1.3% to ht the day's high at Rs 693. "Glenmark Pharmaceuticals Inc, USA (Glenmark) has been granted final approval by the United States Food & Drug Administration (USFDA) for Fluocinolone Acetonide Oil, 0.01 per cent (ear drops), a generic version of DermOtic Oil, 0.01 per cent of Hill Dermaceuticals, Inc," the company said in a BSE filing. Quoting IQVIA sales data for the 12 month period ending October 2018, Glenmark said, the DermaOtic Oil, 0.01 per cent market achieved annual sales of approximately USD 18.1 million. 

11:07 (IST)18 Dec 2018
BSE Live: Sterlite Technologies share price zooms 6.8% after pledged shares with JPMorgan got released

Shares of Sterlite Technolgies gained in trade on Tuesday morning, after pledged shares of the firm with JPMorgan got released. Sterlite Technologies share price rallied by more than 6.8% to hit the day's high at Rs 306.90. Last week, the company had announced that it has strengthened its technology leadershipwith two crucial appointments. "We wish to inform you that the Company has on-boarded two industry technology leaders - Mr. Ayush Sharma and Mr. Rajesh Gangadhar as it continues to design, build and manage smarter programmable networks. A copy of the Company's Press Release in this behalf, is enclosed herewith," the firm said last week in a regulatory filing.

10:38 (IST)18 Dec 2018
Warren Buffett advises investors to read this India-born poet’s masterpiece to overcome stock market jitters

Warren Buffett’s advice: The global stock markets, including India’s, have seen volatility throughout the year so far. After stellar Sensex and Nifty gains last year, even as a tumultuous 2018 comes to an end Berkshire Hathaway founder Warren Buffett has an advice for the investors: “heed these lines” from the classic 19th century Rudyard Kipling poem. The ‘Oracle of Omaha’ had written this in his 2017 Berkshire Hathaway shareholder letter:

If you can keep your head when all about you are losing theirs …

If you can wait and not be tired by waiting …

If you can think – and not make thoughts your aim …

If you can trust yourself when all men doubt you …

Yours is the Earth and everything that’s in it.

Read full story here:  Warren Buffett advises investors to read this India-born poet’s masterpiece to overcome stock market jitters

10:18 (IST)18 Dec 2018
US dollar on back foot before Fed, markets eye policy outlook

The dollar remained under pressure on Tuesday as markets counted down to a crucial Federal Reserve meeting amid speculation it will soon hit the pause button to its monetary tightening cycle in the face of rising risks to global growth. A sell-off in equities overnight extended into the Asian morning as investors fretted over a drum roll of weak data globally, reinforcing bets the Fed’s widely expected rate hike on Wednesday would usher in a slowdown, or even a pause, to three years steady rate increases.

Also read: US dollar on back foot before Fed, markets eye policy outlook

09:44 (IST)18 Dec 2018
Rupee rises 37 paise to 71.19 against US dollar on falling crude prices

The rupee appreciated 37 paise to 71.19 against the US dollar in early trade at the interbank foreign exchange Tuesday after crude prices fell to a 14-month low level in international market. The rise in the rupee was also supported by dollar-selling by exporters and banks and the US unit's weakness against some currencies overseas ahead of US Federal Reserve Monetary policy decision Wednesday, traders said. At the interbank forex market, the rupee commenced with strength at 71.34 and appreciated further to quote 37 paise higher at 71.19 against the US dollar.The rupee had gained 34 paise to close at 71.56 against the US dollar Monday as forex market sentiments were driven by the country's narrowing trade deficit in November as also smart gains in domestic equities, PTI reported.

09:30 (IST)18 Dec 2018
BSE Live: Sensex down 200 pts, Nifty below 10,850; Tata Motors zooms 2%, Jet Airways down 2.5%

The domestic stock market--Sensex and Nifty--opened lower tracking weak  global cues, after S&P 500 closed at a 14-month low on concerns about slowing economic growth. The 30-share Sensex slumped 213 points in the opening trade to 36,047.49, while the broader Nifty 50 was trading firmly below 10,850-level. Tata Motors share price gained by more than 2% to hit the day's high at Rs 177.60. Notably, the firm's subsidiary JLR has reportedly hired Boston Consulting Group for its $3.2 billion turnaround plan. Jet Airways share price slumped by more than 3.9% to hit the day's low at Rs 240, after the company confirmed that SBI has ordered a forensic audit from 2014-2018. A look at live heatmap.

09:08 (IST)18 Dec 2018
Sensex may zoom to 47,000 by December 2019, if this happens: Morgan Stanley

Even as we continue to witness heightened volatility in the stock markets given a confluence of domestic and global factors, global firm Morgan Stanley’s bull case scenario estimates that Sensex could top the 47,000-mark by December 2019. Notably, Morgan Stanley has Sensex target at 42,000 as it’s base case scenario. “After a volatile 2018, on balance equities could be poised for better returns in 2019 with the caveat that the Indian electorate does not deliver a shock verdict in the forthcoming 2019 elections by delivering a fragmented coalition government,” Morgan Stanley said in the report.  

Read full story here: Sensex may zoom to 47,000 by December 2019, if this happens: Morgan Stanley

09:05 (IST)18 Dec 2018
Oil price update: U.S. oil prices drop 1% on oversupply fears

U.S. oil prices fell 1 percent on Tuesday after slipping below $50 a barrel in the previous session, with reports of a big climb in U.S. inventories and forecasts of record shale output stoking worries about oversupply. Concerns around future oil demand amid weakening global economic growth and doubts on the impact of planned OPEC-led production cuts were also hurting prices, traders said. U.S. West Texas Intermediate (WTI) crude futures were at $49.35 per barrel at 0035 GMT, down 1.06 percent, or 53 cents, from their last settlement. U.S. crude prices have tumbled more than 35 percent since early October and are currently at levels not seen since October 2017, Reuters reported.

09:03 (IST)18 Dec 2018
Global shares: Stocks slide as global growth worries deepen

Asian share markets stumbled on Tuesday as heightened concerns about a slowing global economy sent Wall Street stocks skidding to their lowest levels in more than a year. MSCI's broadest index of Asia-Pacific shares outside Japan shed 0.25 percent in early trade while Japan's Nikkei tumbled 1.5 percent. On Monday, MSCI's broadest gauge of the world's stock markets, ACWI, slumped to its weakest level since May 2017, having declined 16 percent from a top hit on Jan. 29, Reuters reported.

09:02 (IST)18 Dec 2018
S&P 500 hits 14-month low on economic jitters ahead of Fed meeting

Wall Street's major indexes all slid more than 2 percent on Monday, with the benchmark S&P 500 closing at its lowest in 14 months, on concerns about slowing economic growth ahead of a highly anticipated decision from the Federal Reserve this week on the course of U.S. interest-rate hikes. The S&P 500 hit its lowest since October 2017 to breach lows reached during its sell-off in February, having wiped out about $3.4 trillion of market value since late September. The small-cap Russell 2000 index confirmed a bear market, having fallen more than 20 percent from its Aug. 31 closing high, Reuters reported.

Share market on Monday: The domestic headline indices– Sensex and Nifty– started off the week on a postive note despite weak macro cues with the stabilization of crude and rupee providing more confidence to global investors. Sensex closed 307.14 pts higher at 36,270.07, while the Nifty 50 closed 15 pts shy of the crucial 10,900-mark. Kotak Mahindra Bank share price slumped by more than 3.3% to hit intra-day low of Rs 1,214.10, after  the Bombay High Court refused to grant stay on December 31 deadline given by the Reserve Bank of India to Kotak Mahindra Bank for promoter stake dilution.
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