Sensex Today: Sensex ends 488 points higher, Nifty at 11,831, Jet Airways rises 93%

Tech Mahindra Signs Contract with Airbus for Cabin and Cargo Design Engineering

Tech Mahindra today announced signing of a multi-year contract with Airbus for Cabin and Cargo design engineering.

As per the press release, Karthikeyan Natarajan, Global Head of Engineering and IoT, Tech Mahindra commented on the matter that," This will strengthen our aerospace engineering portfolio especially, in areas like cabin engineering and customer services.”

The filing on the co. official webiste further added that the provider of digital transformation, consulting and business re-engineering services and solutions, aims to capitalize on the specialized skills and competencies in growing Cabin Engineering business over the next few years.

Sectors Update

Sectorally, all the sectors trading bullish, with most gains in Pharma at 2% gain, followed by 1% gains in Realty and Metal stocks. IT and Media are the only indices declining in today's trade.

Yes Bank hits new 52 week low at Rs 98.70

Yes Bank share price has fallen to double digits for first time in five years, to its new 52 week low at Rs 98.70. Recently, many credit rating agencies have slashed its long term outlookWhile UBS cut its target price, HSBC downgraded the stock. Additionally, Macquarie has raised questions about the bank's governance standards.Yes Bank stock was in turmoil since August 2018, when the RBI rejected the board’s proposal to have the sixth three-year term for Rana Kapoor In another recent news, Yes Bank CEO Ravneet Gill announced that the bank plans to raise $1.2 billion over 18 months to bolster its capital buffer through a mix of public and private share sales.Contrary to the news, the stock is trading as the top gainer on NSE at Rs 108, with 5% gain above its last close.

India's 10-year bond yields drops to 20-month low on US Fed rate cut hints

India's benchmark 10-year bond yields dropped to their lowest in 20 months on Thursday after the US Federal Reserve signalled possible interest rate cuts later this year, while buying from state-run banks also aided.

The benchmark 10-year bond yield was at 6.75 per cent, as of 0345 GMT, its lowest level since Oct. 17, 2017, and down 9 basis points from its previous close.

(Reuters)

Rupee Update

The rupee witnessed high volatility against the US dollar in opening trade Thursday, after the US central bank left key interest rates unchanged.

The rupee opened strong at 69.47 at the interbank forex market, but lost ground and touched 69.67 per dollar, displaying gains of just 1 paise against the greenback.

Forex dealers said foreign fund outflows, weak opening of domestic equities and rising crude oil prices weighed on the local unit.

India will not permit foreign firms in multi-brand retail: Piyush Goyal

The government will not allow foreign companies to operate in multi-brand segment and necessary action will be taken against people indulging in predatory pricing, Commerce and Industry Minister Piyush Goyal said Wednesday.

According to FDI policy, India permits foreign direct investment in the multi-brand retail sector with a cap of 51 per cent ownership by overseas players.

Experts Opinion

According to experts, investors were cautious despite strong cues from global markets, amid concerns over weakening economic data, lack of liquidity and deficit in monsoon.

FII and DII

Meanwhile, on a net basis, foreign institutional investors sold equity worth Rs 97.05 crore, and domestic institutional investors offloaded shares to the tune of Rs 104.91 crore, provisional data available with stock exchanges showed on Wednesday.

Brent Crude

The global oil benchmark Brent crude futures were trading 1.29 per cent higher at 62.62 per barrel.

Gainers/Losers

Top losers in the Sensex pack included Yes Bank, IndusInd Bank, TCS, Maruti, Infosys, Asian Paints, Tata Steel, Tata Motors, Axis Bank and HCL Tech, shedding up to 1.43 per cent.

On the other hand, Bharti Airtel, Kotak Bank, Coal India, RIL, L&T, PowerGrid and HDFC gained up to 1.10 per cent.

Jain irrigation clarifies to exchanges

Jain iriigation in a clarification note, informed the bourses that the company is moving forward with normal operations and is confident of fulfilling it's agenda while making serious efforts to deleverage it's balance-sheet. the clarification filing added that the co. promoters have are in touch with all their lenders for pledged shares and working on solutions for current scenario, and that company's management will further actively engage with shareholders and other stakeholders to regain their confidence


Earlier India Ratings and Research lowered its long-term issuer rating to 'IND BBB' from 'IND A-' while placing it on 'Rating Watch Negative' (RWN).

Read more: Jain Irrigation Systems share price extends losses on debt downgrade, hits fresh 52-week low

IT Stocks Down after US-Inida Fued on HB1 Visa

Shares of IT companies like Wipro, Infosys, Tech Mahindra and other IT stocks led the losses in the morning trade after the United States has told India it is considering caps on H-1B work visas for nations that force foreign companies to store data locally

Sectors update

On sectoral front, all the major indices are trading in bearish territory on NSE. Media is the most declining sector of the morning session, at a fall of 1.70%, followed 1% decline in IT stocks. More than 0.50% decline can be seen in Auto, Realty and Pharma stocks.

Opening Session

Sensex opened 109 points or 0.28% lower at 39,003 and Nifty50 started today's trade at 11,657, down by 34 points or 0.30%. Nifty Bank was down by 0.12% and Nifty Midcap was down at 0.20%

Pre-Opening Session

Sensex is down at 39,012.73 by 100.01 or 0.26% and nifty is tradng down currently at 11,668, down by 23 points.

Five stocks under F&O ban period on NSE

Previous Session

Global Market Update

US FOMC Meet outcome

US to consider caps on HB1 visa to deter data rules

The United States has told India it is considering caps on H-1B work visas for nations that force foreign companies to store data locally, three sources with knowledge of the matter told Reuters, widening the two countries’ row over tariffs and trade.

The warning comes as trade tensions between the United States and India have resulted in tit-for-tat tariff actions in recent weeks. From Sunday, India imposed higher tariffs on some U.S. goods, days after Washington withdrew a key trade privilege for New Delhi.