Business Today

Sensex ends 193 points down, Nifty at 11,906; Indiabulls Housing, J&K bank worst performers

BusinessToday.In, | 12 June 2019

Share Market Update: After three straight sessions of gains, benchmark equities closed on a negative note Wednesday, tracking global cues as trade war damage and a softening in global demand kept markets subdued and investors cautious.

 

Except, FMCG and Metal, all the sectoral indices closed on the red, with major declines seen in Realty, which slipped over 2 % and Auto down over 1%, followed by other major indices like Pharma, Bank, Media and Financial stocks, each declining over 0.50%.

 

 

While Nifty touched the day's low to almost 11,866.35 level today, Sensex reached 39,623.53 level.

 

 

 

 

 

Check Latest Updates

  • While Sensex is trading 158 points down at 39,791, with 23 out of 30 stocks declining, Nifty is trading at 11,925, down by40 points, with 33 out of 50 components trading on the red.
  • 15:53 IST

    Market Analysis by Mr. Umesh Mehta, Head of Research, Samco Securities


    "Market is falling on its own weight given that there are no triggers, news for the markets to get any direction and therefore now valuation is what is weighing the bourses. Nifty50 is trading at a P/E multiple 29x which is highest in decades. Statistically, this high valuation sustains for less than 5% of the time in a bull cycle. FIIs too have scaled down their purchases after a euphoric Modi Government win. All these factors along with negative international news took the bourses down and across the board selling was witnessed in the market. A post-election victory range of 11600-11400 looks reasonable in reality for Nifty. "

  • 15:53 IST:
    "Market is falling on its own weight given that there are no triggers, news for the markets to get any direction and therefore now valuation is what is weighing the bourses. Nifty50 is trading at a P/E multiple 29x which is highest in decades. Statistically, this high valuation sustains for less than 5% of the time in a bull cycle. FIIs too have scaled down their purchases after a euphoric Modi Government win. All these factors along with negative international news took the bourses down and across the board selling was witnessed in the market. A post-election victory range of 11600-11400 looks reasonable in reality for Nifty. "

  • 15:49 IST

    Closing Bell

    S&P Sensex declined by 193 points to close at 39,756, with 22 components declining, while broader index Nifty was down by 55 points to 11,906 level, with 35 stocks declining on the closing bell.

  • 15:49 IST: S&P Sensex declined by 193 points to close at 39,756, with 22 components declining, while broader index Nifty was down by 55 points to 11,906 level, with 35 stocks declining on the closing bell.

  • 15:25 IST

    Crude extends losses, Brent trades around $60.50/bbl





    World oil markets have undergone a U-turn, switching from supply-side risks like OPEC's production cuts or U.S. sanctions against producers Iran and Venezuela, analysts said, to concerns of slowing consumption amid fears of a global recession.


    Brent Crude, today, was trading down at $60.62/bbl, down 2.68%, whereas NYMEX, was at 51.73, down by almost 3%

  • 15:25 IST:



    World oil markets have undergone a U-turn, switching from supply-side risks like OPEC's production cuts or U.S. sanctions against producers Iran and Venezuela, analysts said, to concerns of slowing consumption amid fears of a global recession.


    Brent Crude, today, was trading down at $60.62/bbl, down 2.68%, whereas NYMEX, was at 51.73, down by almost 3%

  • 15:00 IST

    European shares retreat from 3-week highs




    European shares pulled back from three-week highs on Wednesday after the United States toughened its stance on trade with China and data from Beijing showed factory inflation slowed in May, deepening fears of a global economic slowdown.

    Trump also took aim at the Federal Reserve, saying interest rates were "way too high", ahead of a reading on U.S. inflation that could shift the odds for an early cut in rates.

  • 15:00 IST:


    European shares pulled back from three-week highs on Wednesday after the United States toughened its stance on trade with China and data from Beijing showed factory inflation slowed in May, deepening fears of a global economic slowdown.

    Trump also took aim at the Federal Reserve, saying interest rates were "way too high", ahead of a reading on U.S. inflation that could shift the odds for an early cut in rates.

  • 14:53 IST

    Gainers/Losers in last hour of trade

    On NSE, Indiabulls Housing Finance, YES Bank, Bharti Infratel, Tech Mahindra and Kotak Bank were among the top losers of today's trading session while, Tata Steel, GAIL, Cipla, Sun Pharma and ONGC were among the gainers in the trading platforms.

    DCM Shriram, Delta Corp, DHFL, Motherson Sumi, Tata Steel were among the top gainers on BSE in today's trading session, whereas, J&K Bank, Indiabulls Integrated Services, Indiabulls Housing Finance, Lakshmi Vilas Bank, Jain Irrigation Systems were among the top losers in the last hour of trade.

  • 14:53 IST:
    On NSE, Indiabulls Housing Finance, YES Bank, Bharti Infratel, Tech Mahindra and Kotak Bank were among the top losers of today's trading session while, Tata Steel, GAIL, Cipla, Sun Pharma and ONGC were among the gainers in the trading platforms.

    DCM Shriram, Delta Corp, DHFL, Motherson Sumi, Tata Steel were among the top gainers on BSE in today's trading session, whereas, J&K Bank, Indiabulls Integrated Services, Indiabulls Housing Finance, Lakshmi Vilas Bank, Jain Irrigation Systems were among the top losers in the last hour of trade.

  • 14:32 IST

    Market update

    Equity market made a mild recovery ahead of last hour, with Sensex trading at 39,786, down by 160 points and Nifty50 trading down by 50 points at 11,913 level.

  • 14:32 IST: Equity market made a mild recovery ahead of last hour, with Sensex trading at 39,786, down by 160 points and Nifty50 trading down by 50 points at 11,913 level.

  • 14:22 IST

    Asian Market




    Asian share markets were in a defensive crouch on Wednesday as the White House took a tough line on trade talks with China, while a looming reading on U.S. inflation could scramble the odds for an early cut in interest rates there.

  • 14:22 IST:



    Asian share markets were in a defensive crouch on Wednesday as the White House took a tough line on trade talks with China, while a looming reading on U.S. inflation could scramble the odds for an early cut in interest rates there.

  • 14:16 IST

    Sectors

    On the sectoral front, except FMCG and Metal, all the major indices are trading in the red, with Realty, Infra, Pharma, Auto and Financial services declining over 1% each.

  • 14:16 IST: On the sectoral front, except FMCG and Metal, all the major indices are trading in the red, with Realty, Infra, Pharma, Auto and Financial services declining over 1% each.

  • 14:10 IST

    Advance-Decline Ratio of NSE/BSE

    On the NSE trading platform, almost 1038 stocks were declining against 578 advancing and 92 unchanged stocks, at an advance decline ratio of 0.56, implying that more stocks have shown negative movements.

    On BSE, the ratio stood at 0.70, with 1364 stocks declining against 949 advancing and 145 unchanged stocks.

  • 14:10 IST:
    On the NSE trading platform, almost 1038 stocks were declining against 578 advancing and 92 unchanged stocks, at an advance decline ratio of 0.56, implying that more stocks have shown negative movements.

    On BSE, the ratio stood at 0.70, with 1364 stocks declining against 949 advancing and 145 unchanged stocks.

  • 13:55 IST

    52 week high/low stocks

    Titan, UPL, Atul ltd, Sobha ltd, Maharashtra Scooters, NESCO were among the stocks that hit 52-week new high today, while share prices of Central Bank of India, Coffe Day Enterprises, Monsanto India, Radico Khaitan , Jet Airways and Indiabulls Integrate hit new 52-week low as of today.

  • 13:55 IST: Titan, UPL, Atul ltd, Sobha ltd, Maharashtra Scooters, NESCO were among the stocks that hit 52-week new high today, while share prices of Central Bank of India, Coffe Day Enterprises, Monsanto India, Radico Khaitan , Jet Airways and Indiabulls Integrate hit new 52-week low as of today.

  • 13:42 IST

    Infosys Selected by Posti as Key Digital Transformation Technology Partner


    Infosys informed the exchanges that the co. has been selected by Finnish postal service Posti as a strategic partner for the digital transformation of its business and IT services. Through this engagement, Infosys will drive the modernisation of Posti's IT applications and infrastructure, helping it move to a flexible IT service model. This will also strengthen Posti's ability to respond to changes in customer needs with agility and provide a seamless customer user experience through a dedicated command centre.

  • 13:42 IST:
    Infosys informed the exchanges that the co. has been selected by Finnish postal service Posti as a strategic partner for the digital transformation of its business and IT services. Through this engagement, Infosys will drive the modernisation of Posti's IT applications and infrastructure, helping it move to a flexible IT service model. This will also strengthen Posti's ability to respond to changes in customer needs with agility and provide a seamless customer user experience through a dedicated command centre.

  • 13:13 IST

    Mr. Haigreve Khaitan and Ms. Shikha Sharma to be appointed as Independent Directors on the Board of M&M

    The Board of Directors has based on the recommendation of the Governance, Nomination and Remuneration Committee proposed to the Members of the Company, the appointment of Mr. Haigreve Khaitan and Ms. Shikha Sharma as Independent Directors on the Board of Directors of the Company to hold office for a term of 5 (five) consecutive years each commencing from 8th August, 2019 to 7th August, 2024.

  • 13:13 IST: The Board of Directors has based on the recommendation of the Governance, Nomination and Remuneration Committee proposed to the Members of the Company, the appointment of Mr. Haigreve Khaitan and Ms. Shikha Sharma as Independent Directors on the Board of Directors of the Company to hold office for a term of 5 (five) consecutive years each commencing from 8th August, 2019 to 7th August, 2024.

  • 12:51 IST

    Indian Rupee


    The rupee appreciated by 8 paise to 69.38 against the US dollar in opening trade Wednesday, driven by easing crude oil prices and foreign fund inflows.

    Forex traders said the weakening of the greenback vis-a-vis some major currencies overseas aided the local unit. However, a weak opening in domestic equities weighed on the domestic currency.

    The local unit however, pared some gains and was trading at 69.38, up 6 paise from its previous close at 1005 hrs.The rupee had settled at 69.44 against the US dollar Tuesday.

  • 12:51 IST:
    The rupee appreciated by 8 paise to 69.38 against the US dollar in opening trade Wednesday, driven by easing crude oil prices and foreign fund inflows.

    Forex traders said the weakening of the greenback vis-a-vis some major currencies overseas aided the local unit. However, a weak opening in domestic equities weighed on the domestic currency.

    The local unit however, pared some gains and was trading at 69.38, up 6 paise from its previous close at 1005 hrs.The rupee had settled at 69.44 against the US dollar Tuesday.

  • 12:44 IST

    IDC of Mindtree find L&T's Open Offer 'Fair and Reasonable'


    The Independent Directors Committee (IDC) of Mindtree is in opinion that the open offer of Larsen & Toubro Ltd's (L&T) "appears to be fair and reasonable and in accordance with SEBI's takeover rules (Substantial Acquisition of Shares and Takeovers).

    Open Offer for the acquisition of up to 5.13 crore fully paid up equity shares having a face value Rs. 10·each at a price of Rs. 980 per equity share, representing 31% of the total voting equity share capital of the Mindtree, the target co.

  • 12:44 IST:
    The Independent Directors Committee (IDC) of Mindtree is in opinion that the open offer of Larsen & Toubro Ltd's (L&T) "appears to be fair and reasonable and in accordance with SEBI's takeover rules (Substantial Acquisition of Shares and Takeovers).

    Open Offer for the acquisition of up to 5.13 crore fully paid up equity shares having a face value Rs. 10·each at a price of Rs. 980 per equity share, representing 31% of the total voting equity share capital of the Mindtree, the target co.

  • 12:24 IST

    NTPC gets Investment approval of 100 MW Ramagundam Floating Solar PV Project, Phase-I

    NTPC, a Govt. Of India enterprise, informed the exchanges today that the firm has got investment approval for 100 MW Ramagundam floating solar PV Project, Phase-I in District Peddapelli, Telangana.

  • 12:24 IST: NTPC, a Govt. Of India enterprise, informed the exchanges today that the firm has got investment approval for 100 MW Ramagundam floating solar PV Project, Phase-I in District Peddapelli, Telangana.

  • 12:02 IST

    European Commission prohibits proposed JV between Tata Steel and thyssenkrupp





    The European Commission formally announced its decision to prohibit the proposed European steel joint venture between Tata Steel and thyssenkrupp AG.

    Both entities had anticipated that the European Commission would not clear the proposed joint venture despite both parties offering a comprehensive package of remedies addressing the concerns of the Commission. Tata Steel noted with deep disappointment the conclusions of the Commission.


  • 12:02 IST:




    The European Commission formally announced its decision to prohibit the proposed European steel joint venture between Tata Steel and thyssenkrupp AG.

    Both entities had anticipated that the European Commission would not clear the proposed joint venture despite both parties offering a comprehensive package of remedies addressing the concerns of the Commission. Tata Steel noted with deep disappointment the conclusions of the Commission.


  • 11:52 IST

    Global and Domestic Cues






    In broader Asia, investors worried about Washington's tough stance on the trade talks with China.

    In Wall Street, U.S. stocks ended near flat and the Dow snapped a six-day winning streak on Tuesday, as investors paused following a run of gains and fresh worries emerged over the U.S. trade war with China.

    Meanwhile, weak demand and a liquidity crisis at India's shadow banks put the brakes on automobile sales in the domestic market. Passenger vehicle sales in May declined over 20%, data from the Society of Indian Automobile Manufacturers (SIAM) showed.

  • 11:52 IST:





    In broader Asia, investors worried about Washington's tough stance on the trade talks with China.

    In Wall Street, U.S. stocks ended near flat and the Dow snapped a six-day winning streak on Tuesday, as investors paused following a run of gains and fresh worries emerged over the U.S. trade war with China.

    Meanwhile, weak demand and a liquidity crisis at India's shadow banks put the brakes on automobile sales in the domestic market. Passenger vehicle sales in May declined over 20%, data from the Society of Indian Automobile Manufacturers (SIAM) showed.

  • 11:45 IST

    YES BANK's Ratings placed under 'Review for Downgrade' by Moody's

    Yes Bank Ltd fell 2.7% and dragged the Nifty Bank index lower by about 0.5%, after ratings agency Moody's put the bank's rating "under review for downgrade".

    YES Bank's stock, that currently trades at Rs 135, almost 3 % down, opened at a loss of 2.08% and touched an intraday low of Rs 134.15, falling 3.70% against the last clos

  • 11:45 IST: Yes Bank Ltd fell 2.7% and dragged the Nifty Bank index lower by about 0.5%, after ratings agency Moody's put the bank's rating "under review for downgrade".

    YES Bank's stock, that currently trades at Rs 135, almost 3 % down, opened at a loss of 2.08% and touched an intraday low of Rs 134.15, falling 3.70% against the last clos

  • 11:33 IST

    Market Update

    While Sensex is trading 225 points down at 39,725, with 22 out of 30 stocks declining, Nifty is trading at 11,897, down by 67 points, with 36 out of 50 components trading on the red. On the sectoral front, except Metal, all the major indices are trading in the red, with realty and financial services declinng over 1% each.

    Indiabulls Housing Finance, YES Bank, Bharti Infratel, UPL and Kotak Bank were among the top losers of today's trading session while, Tata Steel, Vedanta, GAIL, sun Pharma and ONGC were among the gainers in the trading platforms.

  • 11:33 IST:
    While Sensex is trading 225 points down at 39,725, with 22 out of 30 stocks declining, Nifty is trading at 11,897, down by 67 points, with 36 out of 50 components trading on the red. On the sectoral front, except Metal, all the major indices are trading in the red, with realty and financial services declinng over 1% each.

    Indiabulls Housing Finance, YES Bank, Bharti Infratel, UPL and Kotak Bank were among the top losers of today's trading session while, Tata Steel, Vedanta, GAIL, sun Pharma and ONGC were among the gainers in the trading platforms.

  • 11:24 IST

    Varun Beverages to consider bonus issue on June 17


    The company has informed closure trading window for trading in securities, from Wednesday, June 12, 2019 till Wednesday, June 19, 2019, due to Board meet on Monday, June 17, 2019, to consider proposal for declaration of Bonus Issue of Equity Shares.

  • 11:24 IST:
    The company has informed closure trading window for trading in securities, from Wednesday, June 12, 2019 till Wednesday, June 19, 2019, due to Board meet on Monday, June 17, 2019, to consider proposal for declaration of Bonus Issue of Equity Shares.

  • 10:57 IST

    Reliance Capital dips 7% in early trade as statutory auditor PwC resigns

    Reliance Capital's statutory auditor Price Waterhouse & Co Chartered Accountants LLP (PwC) resigned on June, 11 2019.The filing added that the company did not agree with the reasons given by PWC for the resignation.

    The company has duly responded to the various queries and letters of PWC and expected PWC to have participated in the meeting of the Audit Committee and not resigned on the eve thereof.

    "The company has also duly furnished all requisite and satisfactory details as required by PWC, especially including certification and confirmations of the transactions in question on multiple occasions by PWC themselves", the filing said.

  • 10:57 IST: Reliance Capital's statutory auditor Price Waterhouse & Co Chartered Accountants LLP (PwC) resigned on June, 11 2019.The filing added that the company did not agree with the reasons given by PWC for the resignation.

    The company has duly responded to the various queries and letters of PWC and expected PWC to have participated in the meeting of the Audit Committee and not resigned on the eve thereof.

    "The company has also duly furnished all requisite and satisfactory details as required by PWC, especially including certification and confirmations of the transactions in question on multiple occasions by PWC themselves", the filing said.

  • 10:09 IST

    Happy Birthday Nifty Future


    Today Nifty futures is completing 19 years. Nifty future was launched on 12 June 2000. The Nifty future index had then opened at 1461 and has moved nearly 8.25 times in the past 19 years

  • 10:09 IST:
    Today Nifty futures is completing 19 years. Nifty future was launched on 12 June 2000. The Nifty future index had then opened at 1461 and has moved nearly 8.25 times in the past 19 years

  • 10:04 IST

    Previous closing



    On Tuesday, Sensex ended higher at 39,950, up by 165 points with 23 out of 30 components on the green, while the broader Nifty, with 34 out of 50 constituents advancing, closed at 11,965, up by 42 points against previous close. While Nifty touched the day's high at 12,000.35 level today, Sensex reached 40,066.31 level intraday.

  • 10:04 IST:

    On Tuesday, Sensex ended higher at 39,950, up by 165 points with 23 out of 30 components on the green, while the broader Nifty, with 34 out of 50 constituents advancing, closed at 11,965, up by 42 points against previous close. While Nifty touched the day's high at 12,000.35 level today, Sensex reached 40,066.31 level intraday.

  • 09:51 IST

    FII and DII

    On a net basis, foreign portfolio investors (FPIs) bought shares worth a net of Rs 95.79 crore on Tuesday, and domestic institutional investors (DIIs) were net sellers to the tune of Rs 151 crore, provisional data available with BSE showed.

  • 09:51 IST: On a net basis, foreign portfolio investors (FPIs) bought shares worth a net of Rs 95.79 crore on Tuesday, and domestic institutional investors (DIIs) were net sellers to the tune of Rs 151 crore, provisional data available with BSE showed.

  • 09:49 IST

    Losers/Gainers

    Indiabulls Housing Finance, YES Bank, ONGC, HCL Tech and Bharti Infratel were among th etop losers of the eaarly trading session while, Tata Steel, Asian Paints, Vedanta, Tata Motors and JSW Steel were among the early gainers in the trading platforms.

  • 09:49 IST: Indiabulls Housing Finance, YES Bank, ONGC, HCL Tech and Bharti Infratel were among th etop losers of the eaarly trading session while, Tata Steel, Asian Paints, Vedanta, Tata Motors and JSW Steel were among the early gainers in the trading platforms.

  • 09:42 IST

    Indian Rupee

    Rupee, opens flat at 69.45 against the dollar versus Tuesday's close of 69.44

  • 09:42 IST: Rupee, opens flat at 69.45 against the dollar versus Tuesday's close of 69.44

  • 09:40 IST

    Market Update

    On the sectoral front, except Media and Metal, all the major indices are trading in the red, led by pressured selling interest in Financial Services, IT, Banking and Realty stocks.

  • 09:40 IST: On the sectoral front, except Media and Metal, all the major indices are trading in the red, led by pressured selling interest in Financial Services, IT, Banking and Realty stocks.

  • 09:37 IST

    Opening Bell


    Financials drag market in opening trade, with Nifty opening at 11,933, down 31 points & Sensex down 120 points at 39,830.

  • 09:37 IST:
    Financials drag market in opening trade, with Nifty opening at 11,933, down 31 points & Sensex down 120 points at 39,830.