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Sensex ends down by 95 points, Nifty at 11,278; Tata Steel, HCL Tech, YES Bank top losers

Share Market Updates: The Indian equities ended lower in choppy trade for the eighth stright session on Friday, tracking weak cues from Asian peers.

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Sensex ends down by 95 points, Nifty at 11,278; Tata Steel, HCL Tech, YES Bank top losers
22 stocks closed in the red on Sensex and 34 out of Nifty were declining at the closing bell.

Share Market Updates: The Indian equities ended lower in choppy trade for the eighth stright session on Friday, tracking weak cues from Asian peers. Out of 30 stocks, 22 closed in the red on Sensex and 34 out of 50 ended in negative terrain on the NSE Nifty.

On the global front, Asian stocks were trading marginally lower, following negative closing at Wall Street in overnight trade as investors weighed US President Donald Trump's decision to increase 25 per cent traffic on USD 200 billion worth of Chinese goods.

On the sectoral front, top declining index was Metal index, that closed at 10701.18, down by 167.35 points or by 1.54%, followed by BSE IT index which closed at 15502.46 down by 177.17 points or by 1.13%. The top gaining indices was BSE CDS index, ending at 23312.86, up by 346.76 points or by 1.51%, followed by BSE Bankex index, that closed at 32385.11 up by 137.68 points or by 0.43%.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2869 , shares advanced were 1309 while 1366 shares declined and 194 were unchanged.

Companies like Eicher Motors, Merck, Tata investment, Relaxo Footwear, Quick Heal Technologies, Larsen and Toubro, Dilip Buildcon, Oberoi Realty, Vakrangee, Venky's India, V-Mart Retail are sheduled to post Q4 results for the last year.

Here's a look at live updates for the Indian share market today:

Sensex is trading down by 95 points at 37,462 level and Nifty is trading down by 22 points at 11,278.

Top Gainers & Losers

4: 05 pm

The top gainers of the BSE Sensex pack were State Bank of India, Bharti Airtel, ICICI Bank, Housing Development Finance Corporation, Mahindra & Mahindra.

The top losers of the BSE Sensex pack were Tata Steel, HCL Technologies, YES Bank, IndusInd Bank, Oil And Natural Gas Corporation.

The top gainers of the NSE Nifty pack were Zee Entertainment Enterprises, State Bank of India, Bharti Airtel, Titan Company, Indiabulls Housing Finance.

The top losers of the NSE Nifty pack were Tata Steel, HCL Technologies, YES Bank, IndusInd Bank Ltd. , Indian Oil Corporation.

Canara Bank Posts Q4 Results

3: 15 pm

The Bank has posted a loss of Rs 551 cr in the fourth quarter against the profit of Rs 4,859 in the corresponding quarter a year ago. th abanck also posted loan growth, at 12.1% YoY.

Canara Bank's non-performing assets see decline in absolute as well as percentage terms compared to the previous quarter, with the Gross NPA declining 12 % and Net NPA declining 13 % q-o-q. Canara Bank Q4 net interest income sees a growth 17.2 % YoY from Rs 2,988 cr to Rs 3,500 cr.

Despite weak figures, the stock is trading up 3.50 per cent at Rs 266.20 currently. The stock has been consequtively gaining for 2 days at 3.70 %. Today the stock has touched day's high at Rs 268.40, up 4.43 % against the previous close of Rs 257.20.

Market Update

2: 55 pm

In the last hour of trade, market breadth was positive, indicated by 1.21 advance-decline ratio on NSE, with 877 advances against 732 declines and 98 unchanged stocks. Similarly BSE AD ratio stood at 1, indicating 1180 advancing stocks against 1181 declining ones while 150 stocks were unchanged.

SBI Results Out

2: 45 pm

Net profit stands at Rs 838.4, against Rs 7,718 cr of Q4 FY18. SBI's asset quality improved for the quarter-ended March. The Gross NPA id down by 8.5 % to Rs 1.72 lakh from Rs 1.88 lakh

While net interest income jumped 15% to Rs 22,953.83 cr versus Rs 19,974.28 cr last year. Non-interest income was at Rs 12,685.12 cr, up 1% from Rs 12,494.78 cr a year ago. Provisions and contingencies surged 174.75% to Rs 16,501.89 cr in the quarter from Rs 6,006.22 cr a quarter ago.

Following the announcement, SBI shares made a comeback from days's low of Rs 292.20 to Rs 302.8, up 1.18 per cent the previous close of Rs 299.25, despite the weak performance. The stock is currently trading up 0.75 points at Rs 300.

PVR Q4 Results out

2: 20 pm

Profit in the Q4FY19 is down 10% q-o-q from Rs 51 cr to Rs 46.4 cr.Revenvue is down from Rs 843 cr to Rs 837.6 cr. EBITDA is down by 2% from Rs 164 cr to Rs 160 cr PVR Cinemas' YoY numbers arent comparable due to SPI acquisition.

Market Update

2: 15 pm

With a trend reversal today, Sensex is trading up by 99 points at 37,658 level and Nifty is trading up by 23 points at 11,324.95. Of the 30 stocks in Sensex, 15 are trading in the green and 25 out of Nifty50 are advancing.

Except FMCG and IT, all the other indices are trading in the green. The top gaining sectors are Nifty Realty up 1.19 per cent, followed by Media up 1.19% and PSU Banks, against the top loser, Nifty IT, down by 0.33%.

Aditya Birla entities increases stake in Vodafone idea ltd to 27.18%

2: 00 pm

The stake of Aditya Birla group has risen to 27.18 per cent in Vodafone Idea Ltd, post the recently-concluded rights issue of the telecom operator. Vodafone Idea had recently concluded over Rs 25,000 cr rights issue, that was oversubscribed nearly 1.08 times.

According to a regulatory filing by Grasim Industries Ltd, the holding of the various Group entities rose from 26.04% (prior to the rights issue) to 27.18%.The entities include Grasim Industries, Birla TMT Holdings, Hindalco Industries, Pilani Investments and Industries, IGH Holdings, Oriana Investments, Elaine Investments, and Aditya Birla Group Chairman Kumar Mangalam Birla.

Asian Paints Q4 misses estimates; global brokerages slash target price

1: 45 pm

Consolidated profit was lower by 1.7 percent year-on-year at Rs 487 cr in the quarter ended March 2019. Revenue from operations increased 11.7 percent YoY to Rs 5,018 cr in Q4 from Rs 4,492.30 cr.

Where CLSA maintained its sell rating on Asian Paints after cutting target to Rs 1285 from Rs 1400,Macquarie has kept 'Outperform' with slashing target to Rs 1,470 from Rs 1,580 earlier, while Credit Suisse has kept the rating 'Neutral' and slashed target to Rs 1,425 from Rs 1,500.

Global Market Update

1: 30 pm

Asian Market are witnessing smart rally on hope of trade negotiation between US and China. Both China and Hong Kong Index gained 3 per cent and 2 per cent respectively. US Future is trading flat after a intra-day fall of 120 points. European indices are in-line with Asia as well, followed by Germany that has outperformed peers after opening with gains of more than 1 per cent.

L&T acquires another 2% stake in Mindtree, holding reaches 25.9%

1: 15 pm

Infrastructure major Larsen and Toubro (L&T) has acquired another 2 per cent stake in Mindtree by purchasing shares from the open market, taking its overall holding in the mid-sized IT company to 25.93 per cent, according to a regulatory filing. Earlier this month, Larsen and Toubro had purchased around 20 per cent stake of V G Siddhartha and Coffee Day in Mindtree through a block deal for about Rs 3,210 crore.

J&K Bank consider the raising of capital to Rs 1600 cr

1: 00 pm

The stock price of Jammu & Kashmir Bank Ltd. rose 9.17 per cent intraday to Rs 57.75 and was ranking in top gainers on the BSE after the company submitted BSE filing quoting, "the Board of Directors shall inter alia consider the raising of capital (ATI/Tier II) to the tune of INR 1600 Crores during the Financial Year 2019-2020, in the meeting scheduled for 15th May, 2019."

The stock is currently trading at Rs 54, up 2 per cent.

HCL Tech down 5% intraday post Q4 results

12: 45 pm

HCL Technologies posted a 14.3 per cent increase in its consolidated net profit to Rs 2,550 crore for the quarter ended March 2019, against Rs 2,230 crore in the year-ago period.The company's revenue grew 21.3 per cent to Rs 15,990 crore in the quarter from Rs 13,178 crore in the January-March 2018 quarter.

Despite the positive figures, the stcok price of the IT major touched an intraday low of Rs 1,074.45, falling 5.09 per cent. The company announced a 100 basis point (bps) cut in the estimated operating margin (OM) for FY20 as against FY19.

Rupee slips 13 paise to 70.07 against the dollar

12: 30 pm

The rupee depreciated by 13 paise to 70.07 against the US dollar in early trade Friday as US-China trade related concerns and foreign fund outflows weighed on investor sentiments.

Tata Motors posts JLR sales figure

12: 15 pm

Jaguar Land Rover retail sales in April 2019 were 39,185 vehicles, down 13.3% compared to April 2018 .

The introduction of the all-electric Jaguar I-PACE and the sales ramp up of the new Range Rover Evoque continue to be encouraging, however, retail sales of other models were lower primarily reflecting the continuing weaker market conditions in China.

Retail sales were up again in the UK (12.1 %) and in North America (9.6%), but were offset by lower sales in China (-45.7%) and in Overseas markets (-22.3%) with retails in Europe also down (-5.5%). Jaguar retail sales in April 2019 were 11 ,462 vehicles, down 13.7% year-on-year and Land Rover retailed 27,723 vehicles, down 13.1% compared to April 2018.

Jaguar Land Rover total retail sales for the calendar year to date (January- April 2019) were 198,101 vehicles, down 9.1 % compared to the same period last year.

Maruti Suzuki releases production figures for month of April

12: 00 pm

Maruti Production is down by 9.6 per cent, from 163, 368 units achieved in April 2018 against 147, 669 units produced in April 2019.

Utility vehicles production is at gain of 8.4 per cent from 22,607 in April 2018 to 24,516 units this April. Total Passenger vehicle production is decreased from 161,370 units to 144,702 units and light commercial vehicle production is up 48 per cent, from 1,998 units to 2,967 units this April.

Maruti shares are trading at Rs 6647, up 15.25 points or 0.23 per cent on BSE.

South Indian Bank shares falls post Q4 results

11: 45 am

Shares of South Indian Bank fell as much as 5.9 per cent to Rs 14.35 against the previous close of Rs 15.30 as the bank posted a 38 per cent plunge in March-quarter profit to Rs 7051 lakh yesterday. The stock is currently trading down by 4.58 per cent at Rs 14.60.

Global Update

11: 30 pm

On the global front, Asian stocks were trading marginally lower, following negative closing at Wall Street in overnight trade as investors weighed US President Donald Trump's decision to increase 25 per cent traffic on USD 200 billion worth of Chinese goods.

PNB Housing Finance up 9.34% post Q4 results

11: 20 am

The housing finance company reported a net profit of Rs 379.7 crore in Q4FY19 as opposed to Rs 251.6 crore in the same quarter last fiscal.

The stock, after opening with a gain of 3.57 per cent to opening price of Rs 723, and later rose 9.34 per cent to the intraday high of Rs 763.25. It currently trades at Rs 758.60 , up 8.67 per cent.

Top Gainers

11: 00 am

Top gainers of BSE are PNB Housing Finance, PC jeweller, Reliance Communications, Sundaram-Clayton Ltd and J&K Bank.

The top gainers on NSE are Indiabulls Housing Finance, Bharti Airtel, Zee Entertainment, Adani Ports and ICICI Bank.

RIL share up 2 per cent on acquisition of Hamleys

10: 45 am

Reliance Brands Limited, a subsidiary of Reliance Industries, announced yesterday that it will acquire Hamleys Global Holdings Limited, the owner of British toy brand Hamleys, for an undisclosed amount.

Following the news, the stock rose almost 2 per cent to Rs 1277.90 against the previous close of Rs 1255.15 and currently trades at Rs 1270, up 1.20 per cent.

SBI Q4 results, expectations of Rs 4000 cr profit

10: 30 am

State Bank of India is among the stocks to watch today since the lender will be announcing its fourth quarter results for the last fiscal. And market experts say that the outlook is good.

According to HDFC Securities, the country's largest lender is expected to report profit after tax of around Rs 4,000 crore "as LLPs [loan loss provisions] trend downwards".

Welspun Corp board to consider buyback

10: 15 am

The company's board meeting is scheduled on May 14 to consider proposal of buyback of the fully paid-up equity shares of the company. The board will also consider the financial results for the year ended March 31, 2019 and recommendation of dividend on equity shares.

Following the announcement, the stock opened with a gain of 2.21 per cent and rose 3.5 percent to Rs 144. It is currently trading at Rs  143, up 3.45 poinst or 2.46 per cent.

Results today

10: 00 am

SBI, Relaxo Footwear, Quick Heal Technologies, PVR Ltd, Punjab Chemicals, Tata investment, Syndicate Bank, Strides Pharma, Oberoi Realty, Vakrangee, Venky's India, V-Mart Retail, Larsen and Toubro, Dilip Buildcon, Canara Bank, BCPL Railway Infrastructure, Equitas Holdings, Eicher Motors, Capital India Finance, Allahabad Bank, Asian Hotels, Adani Hotels & Resorts, Automobile Corporation Of Goa, Merck Ltd, V.S.T Tillers Tractors, Walchand Peoplefirst, V2 Retail, Refnol Resins, Rajratan Global Wire, Oriental Carbon, Ocean Agro, NOCIL, Prism Jhonson, Poly Medicure, Palash Securities, Udaipur Cement, Triton Valves, Trigyn Technologies, Transwarranty Finance, Southern Magnesium & Chemicals, SIL Investment, Shree Metalloys, Shakti Pumps and Menon Pistons Ltd. are the companies that are to post Q4 results today, as per the result calender on BSE.

Market Update

9: 45 am

At the opening hour of trade, market breadth was positive, indicated by 2.61 advance-decline ratio on NSE, with 850 advances against 326 declines and 61 unchanged stocks. Similarly BSE AD ratio stood at 0.78, indicating 637 advancing stocks against 297 declining ones while 33 stocks were unchanged.

Gainers and Losers

9: 30 am

Top gainers of are Bharti Airtel, YES Bank, Zee Entertainment, PNB Housing, Reliance Communications and Jet Airways.

Top losers of the morning session are Kotak Bank, JSW Steel, Asian Paints, Cipla, PowerGrid, HCL Tech, Idea and Voltas.

Opening Bell

9: 15 am

Indian benchmark indices opened higher on Friday, snapping seven straight sessions of fall, as investors took cues from the US President Donald Trump comment that reaching trade negotiations with China is still possible. The S&P BSE Sensex rose 0.37 percent to 37,698.23 and the NSE Nifty 50 opened to 11,340.55, up 0.34 percent.

Global Market Update

9: 10 am

Markets are expected to open flat on account of global cues. US Futures is up 50 pts and US Dow Jones declined half a percent ahead of critical trade negotiations between the US and China. Traders are advised to keep light position. Brent crude surged above $71/barrel.

Asian market bounced back into positive territory. SGX Nifty is down by 16 pts. Indan Rupee closed near 70 against the dollar.

Thursday's Close

9: 00 am

Growing concerns over the trade talks between China and US coupled with Lok Sabha elections have led to nearly 1,500 points decline on the Bombay Stock Exchange in last 7 sessions.

Continuing its losing streak, the BSE Sensex closed at 37,558.91, down by 230.22 points and NSE Nifty settled in the red by declining 57.65 points down to 11,301.80 yesterday.

Read full report here: Sensex closes 230 pts down, Nifty at 11,301; NTPC, Reliance Communications, BPCL top losers

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