Share Market highlights: Sensex ends lower from record high, Nifty near 12,000; RIL zooms to all-time high

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Updated:Nov 20, 2019 4:06:55 pm

Share Market News Today | Sensex, Nifty, Share Prices LIVE: The Sensex receded from record high on Wednesday afternoon, to end below its previous closing high.

Share Market Live, Stock Market Live, Nifty Live, stock market news in hindi, NSE live, BSE live, Live Market Update, Market Today, स्टॉक मार्केट, शेयर बाजार, Indian Share Market Live, Indian Stock Market LiveThe Sensex closed 181 points higher at 40,651.54, while the Nifty reclaimed the crucial 12,000-mark.

Share Market News Today | Sensex, Nifty, Share Prices LIVE: The Sensex receded from record high on Wednesday afternoon, to end below its previous closing high. The Sensex closed 181 points higher at 40,651.54, while the Nifty reclaimed the crucial 12,000-mark. Intra-day, the Sensex gained more than 347 points to hit a fresh record high of 40,816.38. Sensex’s surge to record high came after Reliance Industries shares soared to a fresh record high on Wednesday morning, after the firm announced yesterday that Reliance Jio will also hike tariffs. Reliance Industries share price gained by more than 4% to hit the day’s high at Rs 1,571.85 on BSE. The stock closed at 1,571.85. The firm is now kissing distance away from the Rs 10 lakh crore mcap figure. Sun Pharma, IndusInd Bank, Reliance Industries, Yes Bank, Maruti Suzuki were among the biggest gainers in the Sensex pack, jumping up to 5.8%. Kotak Mahindra Bank, Tata Steel, HDFC, HUL were among the biggest losers, shedding up to 1.5%. We bring to you LIVE updates.

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Highlights

    16:06 (IST)20 Nov 2019
    BSE live: Sensex ends lower from record high, Nifty near 12,000; RIL zooms to all-time high

    The Sensex receded from record high on Wednesday afternoon, to end below its previous closing high. The Sensex closed 181 points higher at 40,651.54, while the Nifty reclaimed the crucial 12,000-mark. Intra-day, the Sensex gained more than 347 points to hit a fresh record high of 40,816.38. Sensex's surge to record high came after Reliance Industries shares soared to a fresh record high on Wednesday morning, after the firm announced yesterday that Reliance Jio will also hike tariffs. A look at LIVE Sensex heatmap.

    15:01 (IST)20 Nov 2019
    PSU banks beat private sector lenders; show substantial improvement on this metric

    PSU bank saw a dip in bad loans in the second quarter of FY20, even as private-sector peers posted a rise with the RBI getting strict on under-reporting of NPAs, a report said. The bad loans for government banks fell by nearly Rs 80,000 crore during the 12-month period ended September 2019, CARE Ratings said. The NPAs fell from Rs 9,92,964 crore in the second quarter of last year to Rs 9,18,487 crore in September 2019 on account of considerable narrowing in loan slippages and boost recoveries, it added. In Q2FY19, the gross NPAs for PSU banks rose by nearly 19 per cent.

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    14:06 (IST)20 Nov 2019
    Rana Kapoor sells remaining stake in Yes Bank

    Founder and former managing director of Yes Bank Rana Kapoor on Tuesday sold his remaining 0.8% stake in the bank, the private sector bank announced in an exchange filing on Tuesday. These transactions were done via promoter firms Yes Capital (India) and Morgan Credits. The promoters sold 2.04 crore shares , which account for 0.80% of the total shares of the bank in the open market during November 13-14, 2019. After selling the shares, the promoter group now holds only 900 shares in Yes Bank. In September 2018, Kapoor had taken to Twitter to say that his shares of the bank are invaluable and will remain with him forever like diamonds.

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    13:46 (IST)20 Nov 2019
    More than 50% of delayed housing projects in 9 residential markets of India are in MMR: Report

    More than half of the housing projects that have been delayed by over 5 years and are likely to reach completion post-2020 are in the Mumbai Metropolitan Region (MMR), data available with PropTiger.com show. According to an analysis that covers 9 prime residential markets of the country, as many as 1,665 RERA-registered housing projects are delayed by over 5 years across India and are likely to see completing only after 2020. Of these, 880 projects constituting of over 2 lakh units are concentrated in the MMR market, counted as the most expensive property markets in India. On the other hand, a total of 125 projects are delayed across Noida, Greater Noida and Gurugram markets, consisting of over 1 lakh housing units.

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    12:59 (IST)20 Nov 2019
    Rs 2000 notes being hoarded less and less; could this be real reason

    The hoarding of Rs 2,000 currency notes has fallen as the seizure of unaccounted cash stocked in this denomination has seen a marked decline over the last three financial years, the government said. While cash seized was over 60 per cent in FY18 and FY19, it fell to just over 43 per cent so far in the current financial year, Finance Minister Nirmala Sitharaman said in a written reply to a question in the Rajya Sabha on Tuesday. “The percentage of unaccounted cash seized in the denomination of Rs 2,000, out of the total cash seized, is 67.91%, 65.93% and 43.22% in financial years 2017-18, 2018-19 and the current financial year till date, respectively,” Nirmala Sitharaman said.

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    12:39 (IST)20 Nov 2019
    Not paid Credit Card dues? HDFC Bank can withdraw from your savings account – NCDRC Order

    HDFC Bank can recover credit card dues of its customers by withdrawing from their savings account. The bank doesn’t even need to inform the customer regarding the withdrawal, according to an order of the National Consumer Disputed Redressal Commission (NCDRC), New Delhi. The terms and conditions of HDFC Bank credit card mentions: “The bank, at any time and without notice, will have lien and right to set-off on all monies belonging to the Cardmember and/or add on Cardmember standing to their credit in any account/custody of the bank, if upon demand by the bank, the balance amount on the card account is not repaid within the prescribed time.” This was also held valid in an order of the National Commission in HDFC Bank vs Anish Munjal on January 23, 2019.

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    12:34 (IST)20 Nov 2019
    Reliance Industries at Rs 10 lakh crore soon: Mukesh Ambani firm now needs only this much more in mcap

    Billionaire Mukesh Ambani-led Reliance Industries is just kissing distance away from the Rs 10 lakh crore in market capitalisation, even as the shares soar to all-time high. Reliance Industries shares gained by more than 4% to hit the day’s high at Rs 1,571.75 on BSE. The firm now commands a market capitlisation of Rs 9.90 lakh crore, making it potentially the first Indian firm to top the Rs 10 lakh crore mcap figure soon. At such a value, Reliance Industries remains India’s most valued company in terms of market value. IT giant TCS comes at a distant second with a market value of Rs 7.88 lakh crore. Interestingly, HDFC Bank has joined the top three recently, with its mcap crossing the landmark figure of Rs 7 lakh crore. Reliance Industries shares have returned a whopping 40% in the year so far. The rise in shares this morning comes after Reliance Jio on Tuesday said that it will increase tariffs in the next few weeks, in a bid to strengthen the financially stressed industry.

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    11:48 (IST)20 Nov 2019
    Gold Storage Limit: How much gold you can keep at home without fearing Income Tax raid

    Gold storage limit in India as per Income Tax act 1961: The Union government is said to be mulling a plan to put a limit on the amount of unaccounted gold one can hold. Reports claimed recently that the government was planning to introduce a gold amnesty scheme and that those holding unaccounted gold beyond a certain limit would be penalised. In the days following the reports, scores of readers were concerned about the amount of gold they can keep at home without worrying about an Income Tax raid as per the current rules. FE Online asked experts for details on these concerns of readers.

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    11:19 (IST)20 Nov 2019
    ITC frauds behind GST shortfall, need more than short-term steps: WB finance minister

    Attributing the dip in the Goods and Service Tax (GST) collections to ‘frauds’ and the ‘flaws in the system’ that led to incessant leakage of revenue, West Bengal finance minister Amit Mitra urged the Union finance minister Nirmala Sitharaman to convene a meeting urgently to discuss revenue augmentation and the setting up of an effective mechanism to detect and avert such tax frauds. In a letter to Sitharaman, Mitra said that the ‘short-term measures’ likely to be suggested by a committee of officers set up in the wake of the GST collections hitting a 19-month low in September might not suffice to boost the revenue.

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    11:05 (IST)20 Nov 2019
    Yawning revenue deficit: Now, Centre fails to give GST aid to states in time

    For the first time since the goods and services tax (GST) was launched, the Centre has started ‘defaulting’ in payment of the constitutionally guaranteed compensation amounts to several state governments for their GST revenue shortfall. This reflects a big and yawning revenue deficit and the growing inadequacy of the stagnant proceeds from the relevant cesses to bridge it. Finance ministers or people in charge of tax revenue from at least half a dozen states namely West Bengal, Kerala, Punjab and Puducherry have confirmed that their latest claims for compensation haven’t been addressed in time.

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    10:33 (IST)20 Nov 2019
    India heading for economic growth below 5%; SBI, others lower forecast

    India’s economic growth probably hit a new low last quarter, with early forecasts showing expansion below 5%. Economists at State Bank of India, Nomura Holdings Inc. and Capital Economics Ltd. lowered their growth forecasts for the quarter ended September to between 4.2% to 4.7%. The government is scheduled to publish the data on Nov. 29. Growth of 4.2% would be the lowest since authorities adopted a new base year for gross domestic product data in 2012. The economy expanded 5% in the three months through June.

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    10:26 (IST)20 Nov 2019
    Sensex soars to fresh record high, Nifty reclaims 12,000; RIL shares hit all-time high

    The headline Sensex soared to a fresh record high on Wednesday morning, led by a rally in index heavyweight Reliance Industries. The Sensex gained more than 295 points to hit a new all-time high of 40,769, while the Nifty reclaimed the crucial 12,000-mark. Sensex's surge to record high came after Reliance Industries shares soared to a fresh record high on Wednesday morning, after the firm announced yesterday that Reliance Jio will also hike tariffs. A look at LIVE Sensex heatmap.

    10:17 (IST)20 Nov 2019
    Mukesh Ambani breaks into club of six oil elites after RIL beats this firm

    Reliance Industries Ltd., run by Asia’s richest man Mukesh Ambani, has eclipsed BP Plc to break into an elite club of energy supermajors. The Indian conglomerate’s market capitalization was about $133 billion, overtaking the British energy giant’s $132 billion value at the close of trading on Tuesday. Reliance’s shares have increased at three times the pace of India’s benchmark index this year after its billionaire owner in August announced plans to cut the company’s net debt to zero in 18 months through measures including a stake sale in the oil-to-chemicals business to Saudi Aramco.

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    09:49 (IST)20 Nov 2019
    Tax-free Senior Citizens Savings Scheme (SCSS): SBI Research proposal

    SBI Research has proposed that the government should make the Senior Citizens Savings Scheme (SCSS) completely tax-free for the benefit of senior citizens. Currently, SCSS provides 8.6 per cent interest with a maximum deposit limit of Rs 15 lakh. Senior citizens can make only one deposit in the account in multiple of Rs 1000. The SCSS account can be opened by an individual of 60 years or more. SCSS account is also open to individuals who have retired on superannuation or taken VRS at the age of 55 or more but less than 60 years. Such persons need to open the account within one month of receiving the retirement benefits, provided the amount deposited in SCSS account is not more than his/her retirement benefits. Senior citizens are allowed to operate more than one SCSS account individually or jointly with spouse.

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    09:35 (IST)20 Nov 2019
    BSE live: RIL share price soars to fresh record high after Jio tariff hike announcement, Sensex up

    Shares of billionaire Mukesh Ambani-led Reliance Industries soared to a fresh record high on Wednesday morning, after the firm announced yesterday that Reliance Jio will also hike tariffs. Reliance Industries share price gained by more than 3.5% to hit the day's high at Rs 1,569 on BSE. The firm is noe kissing distance away from the Rs 10 lakh crore mcap figure. The headline indices Sensex and Nifty opened higher on Wednesday morning, tracking weak domestic and global cues. The Sensex was up about 186 points to 40,636, while the Nifty was trading near the 11,900-mark. Billionaire Mukesh Ambani-led Reliance Jio will join telecom rivals in raising tariffs. Telecom tariffs are finally set to rise with Reliance Jio stating that to strengthen the industry it will take measures like increasing tariffs in the next few weeks.

    09:17 (IST)20 Nov 2019
    This PSU bank stock is up over 60% in November after Essar Steel judgment

    Corporation Bank shares are up 61 per cent so far this month to trade at 4-month high of Rs 26.45 on Tuesday after the Supreme Court judgment on Essar Steel. The scrip zoomed 68 per cent in the last three trading days. The PSU bank’s stock surged 94 per cent from the 52-week low of Rs 13.60 on October 15, 2019. Shares of Corporation Bank were trading at Rs 26.45, up 4.40 points, or 19.95 per cent on NSE at the time of reporting. Last week, the Supreme Court ruled out the October order on Essar Steel resolution by the NCLAT and said that decisions of the committee of creditors (CoC) hold primacy in the case.

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    09:12 (IST)20 Nov 2019
    Recap: Why rival telecom firms Bharti Airtel, Reliance Industries hit record high today?

    Shares of rival telecom firms Bharti Airtel and Reliance Industries soared to a fresh record high on Tuesday afternoon, even as the industry moves towards higher tariffs in the coming days, easing their financial burden. Reliance Industries soared by more than 3.8% to hit the day’s high at Rs 1,514 on BSE. The Mukesh Ambani-led firm achieved a major milestone as Reliance Industries became the first Indian firm to cross Rs 9.5 lakh crore in market capitalisation. Bharti Airtel shares gained by more than 9% to hit the day’s high at Rs 445 on BSE. Notably, Bharti Airtel and Vodafone Idea have announced that they will raise mobile services tariffs from the month of December 2019 to remain viable and recoup from financial stress.

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    09:10 (IST)20 Nov 2019
    Bill Gates breaks silence on awarding Modi for Swachh Bharat; says others must learn from India

    Microsoft founder and currently the world’s richest man Bill Gates recently defended his decision to award Prime Minister Narendra Modi for his ambitious Swachh Bharat Mission. “It is very brave of the Prime Minister to talk about the sanitation problem and he set ambitious goals for improving those. We thought that was praiseworthy because we are very involved in sanitation,” Bill Gates told Times Now in an interview. He added that other countries should also follow India’s example of solving the issue while acknowledging that a lot more still needs to be done. Bill Gates had conferred the ‘Global Goalkeeper’ award to Prime Minister in September following which, he had to face backlash from nobel prize laureates, activists and philanthropist communities.

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    09:09 (IST)20 Nov 2019
    GST collection hit by slowdown, but no need to worry; govt must soon plug this gap

    Even as the economic slowdown is expected to impact goods and services tax (GST) collection, there is no need to panic, said tax experts. The need of the hour is stability, not more turbulence, Pratik Jain, partner, PwC India told CNBC TV-18. Even increasing the compensation cess may not be the best decision to raise revenues and compensate for the shortfall, he added. GST collection in November dropped to Rs 97,637 crore, lower than Rs 1 lakh crore collected previous month. Of the Rs 97,637 crore collected, central GST (CGST) collection is Rs 16,812 crore, state GST (SGST) is Rs 23,070 crore, integrated GST (IGST) is Rs 49,726 crore (including Rs 24,133 crore collected on imports) and cess is Rs 8,031 crore.

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    09:08 (IST)20 Nov 2019
    Sebi issues directions on margins collection in cash segment

    Markets regulator Sebi on Tuesday said trading and clearing members should compulsorily collect upfront certain margins from their clients in the cash segment. The watchdog has issued a circular on ‘Collection and reporting of margins by Trading Member (TM) /Clearing Member (CM) in Cash Segment’ and certain provisions would come into force from January 1, 2020, and the rest from April 1, 2020. “Henceforth, like in derivatives segment, the TMs/CMs in cash segment are also required to mandatorily collect upfront VaR margins and ELM from their clients,” it said. TMs and CMs would have time till ‘T+2’ (trading day plus two) working days to collect margins from their clients.

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    09:06 (IST)20 Nov 2019
    Global markets: Asia shares numbed by trade noise, oil takes a spill

    Asian shares lumbered lower on Wednesday as the Sino-U.S. trade talks produced nothing but a stream of conflicting messages, while concerns about a glut of supply saw oil prices suffer their biggest spill in seven weeks. Figures from the American Petroleum Institute out late Tuesday showed a far larger rise in crude stocks than expected. That followed reports Russia was unlikely to deepen its cuts to crude output. Brent crude futures stood at $60.91 a barrel early on Wednesday, after sliding 2.6% overnight, while U.S. crude recouped a single cent to $55.22.

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    09:05 (IST)20 Nov 2019
    Oil prices steady after two-day drop as growth concerns weigh

    Oil prices were steady on Wednesday, after falling the past two days, as a surge in U.S. stockpiles reinforced concerns about lacklustre global economic growth amid the trade war between the United States and China, the world’s two biggest oil consumers. West Texas Intermediate (WTI) crude futures rose 11 cents, or 0.2%, to $55.32 a barrel by 0252 GMT, after falling 4.3% during the previous two sessions. Brent crude futures were at $60.93 a barrel, up 2 cents, or 0.03%. Brent dropped 3.8% during the prior two sessions.

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    09:04 (IST)20 Nov 2019
    India’s economic growth is leaving its people behind

    The employment has lagged behind growth in GDP from FY15 to FY19, implying that the two have not moved in commensurate terms during the period, a rating agency said. In fact, there has been a slowdown in growth in the last 2 fiscal years after a sharp recovery in FY17, CARE Ratings said. While headcount or employment was 2.5 per cent in 2015-16, 4.1 per cent in 3.9 per cent and 2.8 per cent in the following years, the GDP grew at a CAGR of 7.5 per cent during this period. The study is based on a set of nearly 2,000 companies across all sectors. Talking about sectors, negative growth has been seen in terms of employment for the core industries, the report said, adding only crude oil maintained the employment to a certain level. 

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    09:03 (IST)20 Nov 2019
    Reliance Jio joins Airtel, Vodafone Idea to raise tariffs

    Telecom tariffs are finally set to rise with Reliance Jio also on Tuesday stating that to strengthen the industry it will take measures like increasing tariffs in the next few weeks. On Monday, Vodafone Idea and Bharti Airtel had said that they will increase tariffs from December. This will be the first time since September 2016 — when Reliance Jio launched its services — that tariffs will be revised upwards by the telecom companies. However, none of the companies have said by how much will the tariffs be raised and whether the hike will be an increase in headline rates or realisations will improve by way of reducing the validity of pre-paid vouchers, etc.

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    09:02 (IST)20 Nov 2019
    Reliance Jio to raise call, data charges after Vodafone Idea, Bharti Airtel; check details

    Day after Vodafone Idea and Bharti Airtel announced tariff hikes, Reliance Jio said that it will also follow suit in the next few weeks. The company may take measures including tariff hikes in such a manner that it will not adversely impact data consumption or growth, Mukesh Ambani-led Reliance Jio said in a statement. Adding, the telecom operator said that it will work with the government and comply with the regulatory regime. On Monday, both Vodafone Idea and Bharti Airtel announced a rise in rates of calls and data, amid ongoing financial troubles.

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