Share market highlights: Sensex ends 150 points up, Nifty below 10,800; Yes Bank down 6%, PC Jeweller zooms 14%

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Updated:Dec 13, 2018 5:56:47 pm

Share market Highlights: The Sensex ended Thursday's session higher, but could not hold on to the morning gains completely. Sensex closed the session 150,57 pts higher to 35,929.64, while the Nifty 50 closed below the psychological 10,800-mark.

Share market Highlights: SGX Nifty was trading at levels around 10, 830, about 41.50 points higher indicating a positive start for the domestic markets.

Share market Highlights: The Sensex ended Thursday’s session higher, but could not hold on to the morning gains completely. Sensex closed the session 150,57 pts higher to 35,929.64, while the Nifty 50 closed below the psychological 10,800-level. PC Jeweller share price rocketed 14% in the afternoon trade. Sun Pharma share price slumped 3% after SEBI Chairman Ajay Tyagi said yesterday that the regulator is examining a whistle blower complaint.

Earlier, the SGX Nifty was trading at levels around 10, 830, about 41.50 points higher indicating a positive start for the domestic markets. Dow rose more than 150 points on trade-deal hopes, but closes well off session highs in yesterday’s session.  Asian shares and the pound moved higher on Thursday as investors breathed a sigh of relief after British Prime Minister Theresa May survived a no-confidence vote, and as China appeared to be taking more steps to meet U.S. demands to open its markets, Reuters reported. We bring to you live updates from today’s session.

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

Highlights

    15:52 (IST)13 Dec 2018
    BSE Live:Sensex ends 150 pts up, Yes Bank slumps 6%

    The Sensex ended Thursday's session higher, but could not hold on to the morning gains completely. Sensex closed the session 150,57 pts higher to 35,929.64, while the Nifty 50 closed below the psychological 10,800-level. PC Jeweller share price rocketed 14% in the afternoon trade. Yes Bank shares have plunged by more than 7%, after the fiirm is yet to finalise the name of MD & CEO. The Next Board meeting is scheduled for January 9 to take a call on MD & CEO to replace Rana Kapoor.  A look at Sensex live heatmap.

    15:20 (IST)13 Dec 2018
    BSE Live: Sensex up 143 points, Infosys share price rallies 3.1%

    The 30-share Sensex is holding on to morning gains, and is up about 143 pts. Yes Bank shares have plunged by more than 7%, after the fiirm is yet to finalise the name of MD & CEO. The Next Board meeting is scheduled for January 9 to take a call on MD & CEO to replace Rana Kapoor. "The Search & Selection Committee (SSC) and the Board of Directors are on track to complete the said process within the stipulated timelines of the Reserve Bank of India. The SSC has discussed and deliberated on the final shortlisted external and internal candidates presented by Korn Ferry post their comprehensive interviews and assessment," Yes Bank said in a release. A look at Sensex heat map.

    13:22 (IST)13 Dec 2018
    PC Jeweller share price rockets 14%

    Shares of major gems and jeweller maker PC Jeweller surged more than 14% in trade on Thursday afternoon. PC Jeweller share price zoomed more than 14.2% to hit an intra-day high of Rs 76.20 on BSE. Notably, the shares are still trading at 80% below their 52-week highs of Rs 600.65 on BSE. The shares came under heavy pressure after the firm cancelled its Rs 424 crore share buyback offer owing to bankers denial with respect to cash flowing out of the company. PC Jeweller informed exchanges in July this year that for the current year its bankers have recommended that company should continue to focus on growth and give priority to further reduce its interest expense to the maximum extent possible. 

    12:06 (IST)13 Dec 2018
    Patanjali IPO in next 1-month? Here’s what Baba Ramdev says about listing

    In news that may take IPO market by storm, Baba Ramdev may have plans to list Patanjali Ayurveda. In a cryptic message, Yoga guru Baba Ramdev just gave a glimpse of his intention on listing his flagship FMCG brand Patanjali on stock exchanges. When asked about his plans on Patanjali Ayurved’s listing,  Baba Ramdev said he he would be able to share some “good news” related to this in a month’s time, PTI reported yoga guru as saying at an event. Speaking further, Ramdev said that the country could turn up into a manufacturing hub if necessary facilities were offered at affordable rates and a few areas are marked for manufacturing industries. Considering crisis faced by several industries, the banks should come out to help them, he further said.

    Also read: Patanjali IPO in next 1-month? Here’s what Baba Ramdev says about listing

    11:35 (IST)13 Dec 2018
    Baba Ramdev’s clarion call! Patanjali to overtake Hindustan Unilever by FY20; yoga guru explains strategy

    Patanjali Ayurved targets to topple Hindustan Unilever Limited (HUL) from the top spot, in terms of turnover, by FY20, and become world’s largest FMCG brand by 2025, Baba Ramdev said at an event. Patanjali would acquire a few bankrupt firms, will grow its own business, work on its manufacturing and supply chain and also let good professionals join it, yoga guru explained how homegrown FMCG major plans to emerge as a leader in the country’s FMCG space. Yoga guru Baba Ramdev also talked on farm distress issue at the India Economic Conclave 2018. He said that the Indian farmer wouldn’t need loan-waivers if they can avail cheaper electricity, improved irrigation facilities, fertilisers and right MSP for their crops.

    Read full story here: Baba Ramdev’s clarion call! Patanjali to overtake Hindustan Unilever by FY20; yoga guru explains strategy

    11:26 (IST)13 Dec 2018
    BSE Live: Sensex up 150 pts, SBI gains 3% after Morgan Stanley raises share price target

    Shares of state-run lender SBI gained in trade on Thursday morning, after global brokerage firm Morgan Stanley raised its share price target. Notably, the global research and brokerage firm has raised the share price target to Rs 375. The house expects over Rs 30,000 crore profit in FY20 and over Rs 37,000 crore profit in FY21. Morgan Stanley expects a turnaround on bad loans by FY20.

    11:05 (IST)13 Dec 2018
    Expert take: Market to shift focus to Lok Sabha Election 2019, says UBS

    "After taking a negative turn, the market has recovered from its low, despite the state election results and the RBI Governor's resignation event on Monday. Our interactions with investors (especially overseas ones) and valuation multiples suggest BJP coming back in 2019 is being priced in. With today's outcome, we expect the market focus to shift towards the upcoming general election in a more granular way, including evaluating various outcome possibilities," UBS said in a note. 

    10:53 (IST)13 Dec 2018
    Rupee rises 42 paise to 71.59 per US dollar in early trade

    The rupee Thursday appreciated by 42 paise to 71.59 in early trade after the new RBIgovernor Shaktikanta Das took charge and stressed on the need of a consultative approach to tackle pressing economic issues. Forex traders said a higher opening of domestic equity markets and weakening of the US dollar against some currencies overseas boosted the local unit. 

    Also read: Rupee rises 42 paise to 71.59 per US dollar in early trade

    10:43 (IST)13 Dec 2018
    Anil Ambani-group shares gai, Reliance Infra, RCom surge up to 3%

    Shares of Anil Ambani group firms Reliance Infra, Reliance Communications zoomed in trade in the morning trade on Thursday. Reliance Infrastructure shares gained more than 3.2% in the morning trade to Rs 306.10. Reliance Communications share price gained more than 2.55% to Rs 16.05.  

    10:31 (IST)13 Dec 2018
    BSE Live: Sensex up 250 pts, Sun Pharma shares among top drags

    Sensex is holding on to morning gains, up about 250 pts. Yes Bank share price gained more than 4% to hit Rs 194.30, ahead of its board meet scheduled later today. Sun Pharma share price slumped 3% after SEBI Chairman Ajay Tyagi said yesterday that the regulator is examining a whistle blower complaint. A look at live heat map.

    10:17 (IST)13 Dec 2018
    NSE Live: Sun Pharma share price slumps 3% after SEBI says examining whistleblower compalint

    Shares of India's major drug-maker Sun Pharma slumped in trade on Thursday morning, after SEBI chairman Ajay Tyagi said yesrerday that the capital market regulator is examining the whistleblower complaint against Dilip Shanghvi-led firm. Sun Pharma share price slumped more than 3% to intra-day low of Rs 418. A whistleblower had approached Sebi with a document alleging various irregularities by the company, its promoter Shanghvi and others. "There is a whistleblower complaint which we are examining. I have nothing more to add," Sebi Chairman Ajay Tyagi told reporters after its board meeting.

    10:11 (IST)13 Dec 2018
    SEBI board meet outcome: 3 big reforms from mutual fund risk management to start up listing

    In a series of reforms, market regulator SEBI has allowed mutual funds “to allow mutual funds to create segregated portfolios with respect to debt and money market instruments subject to various safeguards”. The creation of segregated portfolios is a mechanism which is followed to separate distressed, illiquid and hard-to-value assets from other more liquid assets in a portfolio. SEBI has also cleared easing of norms to start startup listings. The market regulator also proposed to extend offer-for-sale mechanism to reduce stake in listed firms. It also relaxed putting together of investment limit norms for well-regulated foreign investors, it added.

    Read full story here: SEBI board meet outcome: 3 big reforms from mutual fund risk management to start up listing

    10:01 (IST)13 Dec 2018
    Bandhan Bank share price rallies 8% after bank announces opening of new braches

    Shares of micro-finance lender Bandhan Bank zoomed in trade on Thursday morning after the firm announced opening of new branches by year end. Bandhan Bank share price gained more than 7.8% to hit intra-day high of Rs 509. Notably, The Reserve Bank of India allowed Bandhan Bank to open as many as 40 new branches, the first time since it put a restriction on the bank's branch opening spree three months back.

    09:51 (IST)13 Dec 2018
    Yes Bank share price zooms more than 4% ahead of its board meet later today

    Yes Bank shares advanced 4.04% to hit intra-day high of Rs 194.30.According to a filing by Yes Bank on the exchanges as on 21 November, the board meeting will be held on 13 December to consider appointment of a new chairman, two independent directors to replace departing directors, and the CEO search panel’s recommendation to appoint a successor to the current MD and CEO Rana Kapoor. The bank also said that its promoters are seeking a mutual resolution to ensure better support and coordination for outstanding issues.

    09:30 (IST)13 Dec 2018
    Sensex opens 245 pts higher, Nifty above 10,800; Yes Bank share price zooms 4%

    The domestic stock markets opened higher, tracking positive global and domestic cues, after the appointment of the new RBI governor and uncertainty surrounding state election outcome receded. The 30-share Sensex rallied 245 points to 36,025.81, while the Nifty 50 opened above the psychological 10,800-level.  Yes Bank share price gained more than 4% to hit Rs 194.30, ahead of its board meet scheduled later today. A look at Sensex live heatmap.

    09:11 (IST)13 Dec 2018
    US stocks: Wall Street closes up, investors optimistic on China trade

    U.S. stocks closed up on Wednesday afternoon, though well below their session highs as investors pulled back in the last few minutes of trading despite optimism about U.S.-China trade relations and some reassuring signs in British politics. U.S. President Donald Trump, in an interview with Reuters on Tuesday, said trade talks were under way with China. Traders said China made the first major purchase of U.S. soybeans since Washington and Beijing agreed to a temporary trade truce this month, Reuters reported.

    09:05 (IST)13 Dec 2018
    Asian shares, sterling up on pause in Brexit, trade fears

    Asian shares and the pound moved higher on Thursday as investors breathed a sigh of relief after British Prime Minister Theresa May survived a no-confidence vote, and as China appeared to be taking more steps to meet U.S. demands to open its markets. Sterling rallied from a 20-month low after the vote, and was holding onto gains early in the Asian trading day, trading at $1.2629. Any respite for sterling was expected to be brief, however, as May appeared no closer to getting her EU divorce agreement through parliament, raising the risk of a chaotic exit in March, Reuters reported.

    09:03 (IST)13 Dec 2018
    U.S. oil prices inch up amid stockpile drop, signs of easing trade tensions

    U.S. oil prices edged up on Thursday, buoyed by a drawdown in inventories and by signs of easing trade tensions between Washington and Beijing.Oil prices have also been supported by OPEC-led supply curbs announced last week, although gains have been muted after the producer group lowered its 2019 demand forecast. U.S. West Texas Intermediate (WTI) crude futures were at $51.27 per barrel at 0020 GMT, up 0.23 percent from their last settlement.International Brent crude oil futures had yet to trade, Reuters reported.

    09:02 (IST)13 Dec 2018
    Brexit deal: UK Prime Minister Theresa May wins vote of confidence

    British Prime Minister Theresa May has survived a political crisis over her Brexit deal, winning a crucial vote of confidence in her leadership of the Conservative Party. May is now immune from a leadership challenge for at least a year. She secured 63 per cent votes with 200 in favour of her and 117 against, out of a total of 317 of her Conservative Party MPs. The vote had been triggered earlier in the day after the required 48 MPs from her Tory party filed letters of no-confidence with the influential 1922 Committee. 

    Read full story:  Brexit deal: UK Prime Minister Theresa May wins vote of confidence

    Share market on Wednesday: In a stellar performance, benchmark equity indices — Sensex and Nifty — posted biggest 1-day gains in 5 weeks Wednesday. While 30-share BSE Sensex surged 629.06 points to end at 35,779.07, Nifty jumped 188.45 points to 10,737.60. It was the second session in a row that equity benchmarks recorded handsome gains. Former Economic Affairs Secretary Shaktikanta Das Wednesday assumed charge as the RBI Governor. He replaced Urjit Patel who abruptly resigned amid a face-off with the government over issues related to governance and autonomy of the central bank. The swift appointment instilled positivity in the markets.