Share market LIVE: Sensex ends above 41,000, Nifty above 12,100; Yes Bank soars 8%

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Updated:Nov 27, 2019 3:38:17 pm

Share Market News Today | Sensex, Nifty, Share Prices LIVE: The headline index Sensex ended above the 41,000-mark for the first time ever, backed by a rally in auto heavyweights.

stock market live: BSE sensex, NSE nifty newsImage: PTI

Share Market News Today | Sensex, Nifty, Share Prices LIVE: The headline index Sensex ended above the 41,000-mark for the first time ever, backed by a rally in auto heavyweights. The Nifty closed the session above the 12,100-mark. The buzz around new scrappage policy lifted auto stocks, leading the Sensex and Nifty higher. The Ministry of Road Transport and Highways has issued a fresh new draft for Vehicle Scrappage Policy which will enable setting up vehicle scrapping facilities in India. The automobile industry in India, especially commercial vehicle makers, have been lobbying for a scrappage policy that puts a cap on the age of vehicles beyond which they must be scrapped. This would create demand for newer vehicles in the market, thus aiding the industry amid the ongoing slowdown. The headline indices Sensex and Nifty opened higher on Wednesday morning, led by gains in auto heavyweights. Tata Motors, M&M, Maruti Suzuki were among the major gainers, jumping up to 3%. The Sensex was up about 225 points, while the Nifty was trading above the 12,000-mark. Billionaire Mukesh Ambani-led Reliance Industries is just kissing distance away from hitting Rs 10 lakh crore in market capitalisation. The US stock markets soared to a fresh all-time high on Tuesday. Shares of private sector lender ICICI Bank hit a lifetime high, after global brokerages firm Morgan retained upbeat call on the stock. We bring to you LIVE updates.

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Highlights

    15:38 (IST)27 Nov 2019
    Share market LIVE: Sensex ends above 41,000, Nifty above 12,100; Yes Bank soars 8%

    The headline index Sensex ended above the 41,000-mark for the first time ever, backed by a rally in auto heavyweights. The Nifty closed the session above the 12,100-mark. The buzz around new scrappage policy lifted auto stocks, leading the Sensex and Nifty higher. A look at LIVE Sensex heatmap . 

    12:52 (IST)27 Nov 2019
    Yes Bank shares rise 8% after firm says will consider fundraising on Friday; key things to know

    Shares of private sector lender Yes Bank gained on Wednesday morning, after the firm said that its board will meet on Friday to consider and approve fund raising. Yes Bank share price gained more than 8.5% to hit the day's high at Rs 68.85 on BSE. In a statement to the exchanges, Yes Bank said that its board will meet on Friday to consider and approve raising funds by issue of equity or equity linked securities. However, the bank has not mentioned the intended figure that it looks to raise.

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    12:12 (IST)27 Nov 2019
    Modi govt’s Mudra scheme adds concerns for banks; here’s what RBI points out

    Reserve Bank of India Deputy Governor MK Jain on Tuesday warned bankers about the growing stress in Mudra (Micro Units Development and Refinance Agency Ltd) loans and asked them to monitor such loans closely as unsustainable credit growth in the sector can risk the system. “Mudra loans are a case in point. While such a massive push would have lifted many beneficiaries out of poverty, there has been some concerns at the growing level of non-performing assets among these borrowers,” Jain said at a Sidbi conference on microfinance. Banks need to focus on the repayment capacity at the appraisal stage itself and monitor loans through the life cycle of the account much more closely, Jain said.

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    10:51 (IST)27 Nov 2019
    Bill Gates no longer 2nd richest person; Jeff Bezos may also lose crown to this fashion mogul

    Bernard Arnault, chairman and CEO of luxury goods brand LVMH, has outshone Microsoft founder Bill Gates as the world’s second-wealthiest person. Within two days of announcing the acquisition of the iconic jewellery brand Tiffany and Co by LVMH, the French businessman added an estimated $2.8 billion to his fortune, according to Forbes’ Real-Time Billionaires List. His net worth boomed by 2.7% to a total of $107.6 billion, putting Bernard Arnault behind only Amazon founder and CEO Jeff Bezos. Jeff Bezos, who had just beat Bill Gates as the world’s richest person has a net worth of $110.5 billion, according to the Forbes list. Meanwhile, Bill Gates’ fortunes go up to $107 billion.

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    10:14 (IST)27 Nov 2019
    Is it better to invest in large-cap funds for the long run?

    Choose equity mutual funds if you can remain invested for long periods (five years or more). Within these, the choice of the category is a matter of individual choice. The NAV of large-cap funds is less volatile than their mid or small-cap peers. However, exclusively choosing one market-cap category over another may deprive you of opportunities. Hence, invest in multi-cap funds as they offer a combination of stocks across categories (and even sectors and geographies). 

    Read full interview here

    09:52 (IST)27 Nov 2019
    IndiGo facing cost pressures from ageing fleet, weakening rupee

    Indigo, which recently announced induction of 300 Airbus A320neos, could see some slowdown in capacity addition in the near term as a result of the directive from the Directorate General of Civil Aviation (DGCA).The DGCA mandated that IndiGo must replace its A320neos with older engines with new planes which are delivered. India’s largest airline by market share, could also continue to face cost pressures due to maintenance of older aircraft and the weakening rupee, according to industry analysts.

    09:32 (IST)27 Nov 2019
    Stock Market Investment: When do you make money on quality stocks?

    Equity markets are witnessing polarised behaviour. While Nifty 50 is rising, broader markets encompassing small and midcaps are 40% and 23% lower from respective peaks. This is causing individual investors to feel aggrieved because they have exposure to broad markets where they have lost money, albeit it is just for now, while the “market”, as they willy-nilly call the Nifty is at all-time highs. Within Nifty again, the upmove is with 10 stocks while the rest are languishing way below recent highs. The economy is starved for growth and companies that are still growing, sustaining growth through this phase are getting a premium. Can’t complain about tall pigmies! Can you? This is called a “quality bubble” in some quarters. I am calling it ‘quality conundrum’ because equity investing, as is often portrayed, is not about black or white, right or wrong or similar other definitive conclusions—it’s about context, perspective and evolving ideas.

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    09:26 (IST)27 Nov 2019
    Buzz around scrappage policy lifts auto stocks; RIL kissing distance away from Rs 10 lakh crore mcap

    The buzz around new scrappage policy lifted auto stocks, leading the Sensex and Nifty higher. The Ministry of Road Transport and Highways has issued a fresh new draft for Vehicle Scrappage Policy which will enable setting up vehicle scrapping facilities in India. The automobile industry in India, especially commercial vehicle makers, have been lobbying for a scrappage policy that puts a cap on the age of vehicles beyond which they must be scrapped. A look at LIVE Sensex heatmap.

    09:09 (IST)27 Nov 2019
    Global markets: Stocks, oil prices edge up on trade talk optimism

    Oil prices and a gauge of global stock markets edged higher on Tuesday, lifted by fresh record highs on Wall Street after US President Donald Trump said the United States and China were close to agreeing on the first phase of a trade deal. Investor sentiment took heart in a steady patter of encouraging news about the prolonged trade talks, providing hope the on-again, off-again talks after 16 months of negotiations appeared to be drawing nearer to conclusion.

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    09:08 (IST)27 Nov 2019
    Global markets: Asian shares climb on prospects of trade progress, low rates

    Asian shares ticked higher on Wednesday as more upbeat signals from Sino-U.S. trade talks fanned hopes of an imminent end to tariff hostilities, which helped offset concerns about a slowing U.S. economy. The positive mood pushed Wall Street indexes to fresh record closing highs on Tuesday and stoked confidence in early Asian trade with MSCI’s broadest index of Asia-Pacific shares outside Japan up 0.14%. Australian shares added 0.46% and Japan’s Nikkei rose 0.41%. U.S. President Donald Trump said on Tuesday that the United States and China are close to agreement on the first phase of a trade deal after top negotiators from the two countries spoke by telephone and agreed to keep working on remaining issues.

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    09:07 (IST)27 Nov 2019
    Oil gains, bolstered again by US-China trade talks

    Oil prices rose on Tuesday after news that U.S. and Chinese officials discussed trade, while predictions for a weekly draw on U.S. crude stockpiles lent some support as well. Brent crude futures gained 62 cents to settle at $64.27 a barrel, while West Texas Intermediate crude rose 40 cents to end at $58.41 a barrel. The United States and China are close to agreement on the first phase of a trade deal, U.S. President Donald Trump said on Tuesday, after top negotiators from the two countries spoke by telephone and agreed to keep working on remaining issues.

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    09:02 (IST)27 Nov 2019
    Blockbuster IPO: CSB Bank asked for Rs 410 crore, investors gave it Rs 35,000 crore

    CSB Bank IPO has turned out to be a mega hit, after the Rs 410 crore public offer got oversubscribed by more than 86.80 times on the last day of issue. The issue received bids for a total of 100.25 crore shares as against the issue size of 1.15 crore implying, implying total subscription of 86.80 times. Retail investors bid for a total of 9.20 crore shares as against the 20.29 lakh shares reserved for them, implying a demand of more than 44 times. The non-institutional investors (NII) portion saw the highest demand, with thir portion being subscribed 165 times. The QIBs bid for a total of 39.18 crore, as against the 63 lakh shares reserved in this category, implying a subscription of 165 times.

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    09:01 (IST)27 Nov 2019
    India is not REALLY open-defecation free, but again, people may have lied: NSO report

    An overwhelming number of Indians have claimed that they don’t have access to toilets, poking holes in Prime Minister Narendra Modi’s assertion of India having become open-defecation free under Swachh Bharat. But the NSO, which conducted the survey, also said that the respondents could not be fully trusted, and that they may have lied to underreport the access to toilets. About 30% of rural households lacked access to toilets in October 2018 even when the government said that over 95% of the target of Swachh Bharat Rural mission had been accomplished till then.

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    08:58 (IST)27 Nov 2019
    Uber’s loss Ola’s gain? Here’s how Ola sweeping into Uber’s territory in London

    Ride-hailing company Ola on Tuesday said it has started registering licenced drivers in London on its platform ahead of the launch of its operations in the city. Ola, which received an operating licence from Transport for London (TFL) earlier this year, said that “over 50,000 licenced drivers will now be assured that they can continue to provide mobility services in London.” Ola was launched last year in August in the UK with Cardiff and has since then expanded to Birmingham, Liverpool, Exeter, Reading, Bristol, Bath, Coventry, and Warwick. Ola competes with Uber in its home market India, and others such as the UK, Australia, and New Zealand. 

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    08:57 (IST)27 Nov 2019
    Now book bus tickets on Amazon as Jeff Bezos company turns into mother of all apps

    After exiting the China market, internet billionaire Jeff Bezos company is doing everything to ensure that the India business continues to do “extremely well” as Bezos reportedly said recently about Amazon India’s growth. The company, which sells almost everything under 17 broad categories, is swiftly adding one service after another — gradually becoming a super app — one app housing several apps. After adding flight ticket booking in May this year and movie tickets earlier this month, Flipkart’s rival on Tuesday added bus ticket booking in collaboration with the MakeMyTrip-owned redBus.

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