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Share Market Update: Sensex ends 80 points lower, Nifty closes below 11,600; Maruti Suzuki, Yes Bank, Tata Steel top losers

Share Market Updates: Overall 22 stocks out of 30 stocks closed in the red on Sensex and 30 out of 50 stocks closed in the red on NIFTY 50.

twitter-logo BusinessToday.In        Last Updated: April 23, 2019  | 16:14 IST
Share Market Update: Sensex ends 80 points lower, Nifty closes below 11,600; Maruti Suzuki, Yes Bank, Tata Steel top losers
Share Market Updates: BSE SENSEX closed at 38564.88, down by 80.3 points or by 0.21 % and NSE Nifty failed to hold 11,600 to close at 11578.8 down by 15.65 points or by 0.13 %.

Closing Bell

BSE Sensex closed at 38564.88, down by 80.3 points or by 0.21 % and NSE Nifty failed to hold 11,600 to close at 11578.8 down by 15.65 points or by 0.13 %. Overall 22 stocks out of 30 stocks closed in the red on Sensex and 30 out of 50 stocks closed in the red on Nifty 50.

The BSE Midcap closed at 15153.1 up by 5.26 points or 0.03 %. The BSE Smallcap ended the day at 14785.28 down by 18.99 points or 0.13 %.

The BSE Sensex touched intraday high of 38832.61 and intraday low of 38518.26. The NSE Nifty touched intraday high of 11645.95 and intraday low of 11564.8.

On the sectoral front, BSE Auto index was at 19582.28 down by 262.51 points or by 1.32%. Maruti Suzuki India, Hero MotoCorp, Tata Motors, Mahindra & Mahindra, Motherson Sumi Systems. On the other hand, BSE_CDS index was at 23810.49 up by 227.04 points or by 0.96%. Rajesh Exports, Symphony, Crompton Greaves Consumer Electricals, Voltas, Blue Star Ltd.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2867, shares advanced were 1230 while 1465 shares declined and 172 were unchanged. Meanwhile, the Indian rupee is trading 7 paise lower at 69.74 per dollar versus previous close 69.67.

3:30 pm

NSE and BSE Losers

  • The top losers of the BSE Sensex pack were Maruti Suzuki India, YES Bank, Tata Steel, IndusInd Bank, Hero MotoCorp, among others.
  • The top losers of the NSE Nifty pack were Maruti Suzuki India, IndusInd Bank, YES Bank, Tata Steel, Hero MotoCorp, among others.

3:25 pm

Market Update

BSE SENSEX was at 38560.47 down by 84.71 points or by 0.22 % and NSE Nifty was at 11581.35 down by 13.1 points or by 0.11 %.

The BSE MIDCAP was at 15165.03 up by 17.19 points or by 0.11 %. The BSE SMLCAP was at 14789.62 down by-14.65 points or by 0.1 %.

The BSE Sensex touched intraday high of 38832.61 and intraday low of 38518.26. The NSE Nifty touched intraday high of 11645.95 and intraday low of 11564.8.

Globally, European markets are mixed. The FTSE 100 is higher by 0.40%, while the DAX is leading the CAC 40 lower. They are down 0.23% and 0.20% respectively.

3:15 pm

P&G India guilty of profiteering Rs 250 cr

P&G India has been charged guilty by the GST profiteering investigation arm for not passing on GST rate cut benefits to the tune of about Rs 250 crore by commensurate reduction in prices. The stock has fallen 2.08% to touch an intraday low of Rs 10,371.35. P&G Hygiene is curently trading at Rs 10, 510, down 0,76 % or 88 points.

Read full report here: GST investigation arm finds FMCG firm P&G India guilty of profiteering Rs 250 crore

3:00 pm

Zee Entertainment jumps 6%

Zee Entertainment gained over 6.1 % to hit an intraday high of Rs 420 on Tuesday after global brokerage firm Macquarie said it expects a 36 % upside in the stock amid the stake sale buzz. and maintained an 'outperform' call on the stock with the target price of Rs 540 apiece. The stock currently trades at Rs 409, up 3.24 %.

2:45 pm

Reliance Capital shares jump 5% after a 3-day slide

After losing for three successive sessions, shares of Reliance Capital jumped 5% in Tuesday's trade. The stock opened at a loss of 4.43% and later gained almost 10 % to the intraday high of Rs 149. It currently trades 6.75 % up at Rs 144.

2:35 pm

Capacit'e Infraprojects bags orders worth Rs 342.38 cr

The company has received two orders aggregating to Rs 342.38 crore from private sector clienti for construction of commercial and restdential buildings at Mumbai.

The stock has jumped over 2% to day's high at Rs 243.70 against the previous close of Rs. 228.90. I tis currently trading at Rs 231.10 , up 0.90%.

2:15 pm

Stocks rise ahead of results

  • ACC Ltd was trading 0.6% higher at Rs 1,671 apiece.
  • Indiabulls Integrated Services was trading 1.87 per cent higher at Rs 341.
  • Tata Global Beverages was trading 0.19 per cent lower at Rs 208.

1:55 pm

Indian junk bond issuances soar to 5-year high

Sales of Indian junk bonds have made a big comeback in 2019, almost tripling to hit a five-year high, boosted by a risk-on rally prompted by a dovish U.S. Federal Reserve that has given the Asia market a record start to the year, reported Reuters.

As per Refinitiv data, Indian companies have sold $3.7 billion in high-yield, or junk-rated, bonds so far this year, an increase of 187 % from 2018.

1:35 pm

Bharti Airtel ex-date of right issue on 23rd April

Bharti Airtel has already fixed April 24 as the 'record date' to determine shareholders' eligibility to apply for the equity shares. Its biggest rights issue of Rs 25,000 crore will open on May 3 and close on May 17, the company said in a regulatory filing.

Shares of Bharti Airtel opened at Rs 325, up 1.22 per cent and fell to days low at Rs 315.50 today.

Read full report here: Bharti Airtel's Rs 25,000-crore rights issue to open on May 3

1:15 pm

Jet Airways shares up 13 %

Shares of Jet Airways (India) Ltd halted its decline after three-straight sessions and surged almost 13 per cent on Tuesday.

Jet Airways' shares opened today with gain of 2.72 per cent and surged  up 11.58 per cent, on the BSE to Rs 172.50

At the NSE, shares surged 13 per cent to Rs 174.95.

Read full report here: Jet Airways shares surge 13 %; halts 3-day slide

12:55 pm

Tejas Networks gains after Q4 results

Share price of Tejas Networks jumped 10.6 percent intraday Tuesday after company reported strong numbers for the quarter ended March 2019.

The company posted 23% rise in consolidated net profit for March quarter at Rs 35.89 crore and a net profit of Rs 29.07 crore in the year-ago period.

The stock opened with a gain of 4.64% and surged 10.6% to the intraday high of Rs 206.20.

12:30 pm

Lupin Jumps as Morgan Stanley upgrade stock

Lupin rose in today's trade and touched an intraday high of Rs 868.50 (4.44%) and posted their biggest intraday percentage gain since October 29 as Morgan Stanley upgraded its recommendation on the stock to 'Overweight' from 'Equal-Weight'.

Yesterday, the company also submitted its annual report for the financial year ended 31 December 2018. The drugmaker's profit has increased by 79 % year-on-year.

There has been a surge of volume traded by 1.29 times, as per BSE notification.

12:11 pm

Afternoon Session:

BSE SENSEX was at 38771.92 up by 126.74 points or by 0.33 % and NSE Nifty was trading at 11637.9 up by 43.45 points or by 0.37 %.

The BSE MIDCAP was at 15204.19 up by 56.35 points or by 0.37 % and the BSE SMLCAP was at 14836.78 up by 32.51 points or by 0.22 %.

The BSE Sensex touched intraday high of 38832.61 and intraday low of 38612.23. The NSE Nifty touched intraday high of 11645.95 and intraday low of 11582.95.

Globally, Asian markets are trading higher as Chinese and Hong Kong shares show gains. The Shanghai Composite is up 0.45% while the Hang Seng is up 0.04%. The Nikkei 225 is not trading.

Back home, the top gainers of the BSE Sensex pack were YES Bank , Reliance Industries, Bajaj Finance, Sun Pharmaceutical Industries , Oil And Natural Gas Corporation, among others.

The top losers of the BSE Sensex pack were NTPC, Tata Steel, Tata Consultancy Services, Bharti Airte, Power Grid Corporation of India, among others.

On the sectoral front, BSE_CDS index was at 23877.74 up by 294.29 points or by 1.25%. Rajesh Exports, Crompton Greaves Consumer Electricals, Voltas, Titan Company, VIP Industries.

On the other hand, BSE_CGS index was at 18199.42 down by 23.14 points or by 0.13%. HEG Ltd. , Graphite India, BEML Ltd., Suzlon Energy, Finolex Cables.

11:55 am

GAIL hits near 2-month low after emerging as the highest bidder for IL&FS' wind assets

Shares of GAIL traded 3.6 % per cent to touch the day's low at Rs 332.05 today. Debt-laden Infrastructure Leasing & Financial Services (IL&FS) Monday said GAIL (India) has emerged as the highest bidder for its seven operating wind power plants.

"Gail's offer of approximately Rs 4,800 crore for 100 percent enterprise value contemplates no hair-cut to the debt of the SPVs, aggregating to nearly Rs 3,700 crore,' the company said in a release.

Read full report here: GAIL emerges as highest bidder for IL&FS wind power plants

11:30 am

JSPL Completes Delivery Of Its First-ever Rail Order To Railways: Record 4-month Ahead Of Schedule

Jindal Steel and Power Ltd (JSPL) Tuesday said it has completed delivery of the first ever rail order to supply rails to Indian Railways. In July 2018, JSPL bagged 20 per cent of the Rs 2,500 crore global tender by the Indian Railways to supply long rails.

"It is indeed a historic moment and a matter of great pride for JSPL" said Naushad Akhter Ansari, Joint MD of JSPL "We are proud to have contributed to government's Make-In-India initiatives and complete such a challenging project far ahead of schedule. "

Stock has gained after 2 days of consecutive fall and currently trades at Rs 177, 0.37 % up.

Read full report here: Jindal Steel completes first-ever rail order ahead of schedule

11:15 am

Gainers and Losers

The top gainers of the BSE Sensex pack were Oil And Natural Gas Corporation, YES Bank, Hero MotoCorp, Sun Pharmaceutical Industries, Reliance Industries, among others. Whereas Tata Steel, Infibeam Avenues, Reliance Communications, HEG Ltd and BEML are among the top losers for the day.

The top gainers of the NSE Nifty pack were Zee Entertainment Enterprises, Sun Pharmaceutical Industries, Oil And Natural Gas Corporation, YES Bank, Indiabulls Housing Finance, among others. While Gil, Adani Ports, Tata Steel, BPCL and NTPC are among the top losers for today's trading session.

10:55 am

Market Update

BSE Sensex was at 38709.28 up by 64.1 points or by 0.17 % and NSE Nifty was at 11619.15 up by 24.7 points or by 0.21 %.

The BSE Midcap was at 15151.12 up by 3.28 points or by 0.02 %, while the BSE SMLCAP was at 14809.75 up by 5.48 points or by 0.04 %.

The BSE Sensex touched intraday high of 38832.61 and intraday low of 38612.23. On the other hand, the NSE Nifty touched intraday high of 11645.95 and intraday low of 11582.95.

10:40 am

RBI's second round of dollar-rupee swap auction

The Reserve Bank of India (RBI) is set to inject long-term liquidity worth USD 5 billion into the banking system through dollar-rupee buy-sell swap for a tenure of three years, the second such auction within a month. The regulator will conduct a dollar-rupee swap auction of $5 billion for the tenor of three years on April 23. According to the dealers, the RBI's dollar-rupee swap auction would help absorb dollar inflows that could make the rupee stronger.

Read full report here: Why rupee is once again under pressure

10:15 am

Market erase gains

The market has fallen 0.08% while volumes have fallen by 6.70%. Nifty is trading down by 4.80 points and Sensex is up by 36.91 points.

10:00 am

Jet Airways shares up

Buying returns in Jet Airways after yesterday's sharp uptick in last hour of trade. On Monday the stock closed at Rs 154.60 against the day's low of Rs 132.20.

Jet's stock has gained after 3 days of consecutive fall. The stock opened with a gain of 2.72%  and touched an intraday high of Rs 168 (8.67%).

9:45 am

Essel Propack jumps 2.5%

Shares of Essel Propack gains after promoters announce selling majority stake to Blackstone Group. Global buyout major Blackstone Monday announced acquisition of a majority 51 percent stake in the troubled Essel group arm Essel Propack for over USD 460 million or about Rs 3,200 crore.

The stock has been gaining for the last 7 days and has risen 14.40% in the period. It has gained every month in the last 6 months and has generated 14.40% returns in the period.

There has been a spurt in volume traded by more than 3.39 times, as per BSE notification.

Read full report here: Blackstone to acquire 51% stake in Essel Propack for Rs 3,200 cr

9:20 am

Opening Bell

The Indian equity market opened on a positive note on Tuesday. The S&P BSE Sensex opens 0.15 percent or up 50 points at 38,705.5 level and the NSE Nifty 50 rose as much as 0.08 percent to 11,600.65.

9:10 am

Indian Rupee

The Indian rupee opened marginally higher at 69.62 per dollar on Tuesday against the previous close 69.67. The rupee had declined by 32 paise to a two-week low of 69.67 against the US dollar Monday.

9:05 am

Pre-Open Session

Sensex gains 100 points, Nifty50 above 11,600.

9:00 am

Companies to report March Quarter results today

Tata Global Beverages (TGBL), ACC, ICICI Securities, Indiabulls Real Estate, Coromandel International, Indiabulls Integrated Services, Sasken Technologies, Nucleus Software Exports and Shiva Cement.

8:50 am

3rd phase of the Lok Sabha election 2019 is being held today

Trading is likely to be cautious as the third phase of voting in the 2019 Lok Sabha elections begins today.

States going to poll in the Lok Sabha election Phase 3 are Uttar Pradesh, Tripura, Kerala, Maharashtra, Karnataka, Chhattisgarh, Odisha, Gujarat, West Bengal, Bihar, Assam, Goa, Jammu & Kashmir and Union Territories Daman and Diu and Dadra and Nagar Haveli.

Read full report here: Lok Sabha Election 2019 Phase 3 Live Updates: EVM glitches mar polls in UP, Kerala, Goa; Sunny Deol joins BJP

8:45 am

NSE excludes 34 scrips from F&O trade

NSE said it will exclude 34 securities from the F&O trading as these were found to be ineligible based on its selection criteria from June 28. Stocks such as Allahabad Bank, Syndicate Bank, Jet Airways, CG Power and Industrial Solutions, Suzlon Energy, IDFC Ltd and Wockhardt among others will be excluded.

8:30 am

Oil jumps on end of Iran waivers

Oil prices surged to a 6-month high above $74/bbl, in early trading on Tuesday after Washington abruptly moved to end all Iran sanctions waivers by May, pressuring importers to stop buying from Tehran. US on Monday demanded buyers of Iranian oil, including India and China to stop purchases by May 1 or face sanctions.

India, the second biggest buyer of Iranian oil, has lined up alternate sources to make up for the likely shortfall in supplies after the US decided not to give waiver from its sanctions for buying oil from the Persian Gulf nation, as per the sources.

8:25 am

Market on Monday

Indian benchmark indices closed lower for the second straight session on Monday, weighed down by sharp selling across oil and gas and realty stocks. The market sentiments were dented by mixed corporate earnings and rising crude oil prices. The BSE Sensex closed at 39,645, down by 495 points, and the NSE Nifty ended at 11,594, down by 158 points.

Read full report here: Share Market Update: Sensex slips 495 points, Nifty closes below 11,600; OMC, IT stocks drag

8:15 am

Global Markets

Asian markets have opened on a soft note. Hong Kong, China and Nikkei Index declined 0.3% each. US Dow Futures declined 37 pts or 0.2%. US Dow Jones also fell by 48 pts or 0.2% yesterday with thin volumes. European markets were closed yesterday on account of Easter Monday Holiday.

SGX Nifty on the Singapore Exchanges was trading flat (up 4 pts), indicating a sideways start for the Nifty50.

8:00 am

Foreign institutional investors (FIIs)

Foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in Rs 73.08 crore on Monday, provisional exchange data showed.

(Edited by Rupa Burman Roy)

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