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Market LIVE: Sensex nears 400 points drop, Nifty at 11,700 level; Jet Airways falls over 16%

BusinessToday.In, | 14 June 2019

Equity benchmark indices extended losses in the last hour of trade to close into bearish territory on Friday. Sensex ended down by 298.82 points at 38,452, while Nifty fell down by 90 points to close at 11,823.

 

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  • According to experts, market mood was negative tracking weak cues from global markets amid rising crude oil prices after attacks on two oil tankers in the Gulf of Oman on Thursday, and continued uncertainty over trade talks between the US and China.
  • 16:05 IST

    Closing Bell

    Benchmark indices Sensex and Nifty, fell over 0.70 % to close into bearish territory. Major indices on Friday, fell in the last few minutes of trade after sources said that India will impose retaliatory tariffs on 29 US products. Sensex ended down by 298.82 points at 38,452, while Nifty fell down by 90 points to close at 11,823.

  • 16:05 IST: Benchmark indices Sensex and Nifty, fell over 0.70 % to close into bearish territory. Major indices on Friday, fell in the last few minutes of trade after sources said that India will impose retaliatory tariffs on 29 US products. Sensex ended down by 298.82 points at 38,452, while Nifty fell down by 90 points to close at 11,823.

  • 15:48 IST

    India is preparing to impose higher tariffs on 29 U.S. goods




    As per sources, India has decided to impose higher retaliatory tariffs on 29 US products, including almond, apples, walnut and pulses, next week after a delay of about a year, after Washington last week withdrew duty-free benefits for Indian exporters.

    Although the U.S. has warned that any retaliatory tariffs by India would not be "appropriate" under WTO rules.

    "The matter will be notified by the finance ministry tonight or tomorrow, before the Sunday deadline," a government official with knowledge of the matter said.

  • 15:48 IST:


    As per sources, India has decided to impose higher retaliatory tariffs on 29 US products, including almond, apples, walnut and pulses, next week after a delay of about a year, after Washington last week withdrew duty-free benefits for Indian exporters.

    Although the U.S. has warned that any retaliatory tariffs by India would not be "appropriate" under WTO rules.

    "The matter will be notified by the finance ministry tonight or tomorrow, before the Sunday deadline," a government official with knowledge of the matter said.

  • 15:08 IST

    Market Update

    On the sectoral front,Metal, PSU Bank and Cap goods indices were trading marginally bullish in today' trade, however most indices continued to fall, with biggest losses in Media, which was down nearly 2% and Realty, FMCG, and Private banks, each declining around 1%.Overall 22 are trading in the red out of 30 stocks on Sensex and 35 out of the 50 stocks are bearish on Nifty.In all this however, shares of Bajaj Finance, Wipro, Titan and co., City Union Bank, PI Industries and Mannapuram Finance hit 52-week new high in today's trade. Stocks that new hit 52-week low today were Biocon, Oracle Finance Services, YES Bank, Emami, Glanmark Pharma and MRPL.

  • 15:08 IST: On the sectoral front,Metal, PSU Bank and Cap goods indices were trading marginally bullish in today' trade, however most indices continued to fall, with biggest losses in Media, which was down nearly 2% and Realty, FMCG, and Private banks, each declining around 1%.Overall 22 are trading in the red out of 30 stocks on Sensex and 35 out of the 50 stocks are bearish on Nifty.In all this however, shares of Bajaj Finance, Wipro, Titan and co., City Union Bank, PI Industries and Mannapuram Finance hit 52-week new high in today's trade. Stocks that new hit 52-week low today were Biocon, Oracle Finance Services, YES Bank, Emami, Glanmark Pharma and MRPL.

  • 14:57 IST

    Tata Communications' subsidiary, TCIPL disvests 26% stake in STT Tai Seng Pte Ltd(Singapore)



    Tata Communications today announced that it has divested remaining 26% stake in the Singapore Data Centre Business.

    Tata Communications International Pte Ltd (TCIPL), a wholly owned subsidiary of the Company in Singapore,  has divested its 26% stake in STT Tai Seng Pte Ltd, a wholly-owned subsidiary of STT GDC Pte Ltd(STT GDC), at an agreed consideration based on fair market value and changing market conditions.

    The co. informed that Tata Communications continues to maintain 26% stake in the India Data Centre business of STT GDC.

    The co. added that the divestment decision was in line with co.'s strategy to evolve the business portfolio by focussing on offering digital infrastructure services through the Growth and Innovation Services portfolio, complementing an asset light growth model.

  • 14:57 IST:

    Tata Communications today announced that it has divested remaining 26% stake in the Singapore Data Centre Business.

    Tata Communications International Pte Ltd (TCIPL), a wholly owned subsidiary of the Company in Singapore,  has divested its 26% stake in STT Tai Seng Pte Ltd, a wholly-owned subsidiary of STT GDC Pte Ltd(STT GDC), at an agreed consideration based on fair market value and changing market conditions.

    The co. informed that Tata Communications continues to maintain 26% stake in the India Data Centre business of STT GDC.

    The co. added that the divestment decision was in line with co.'s strategy to evolve the business portfolio by focussing on offering digital infrastructure services through the Growth and Innovation Services portfolio, complementing an asset light growth model.

  • 14:24 IST

    Sun Pharma announces late-breaking phase 2 data showing potential of ILUMYA



    Sun Pharma in its disclosure to exchanges, states that interim results of phase II study of Ilumya has shown that over 71% patients suffering from psoriatic arthritis & treated with the drug have shown 20% improvement in joint & skin symptoms.

    "The interim results showed ILUMYA™ was well tolerated with a low rate of serious treatment-emergent adverse events," the filing added.  

    The Phase 2 study interim results showed that across all patients receiving ILUMYA™, 75.3 percent experienced a 20 percent improvement in symptoms of psoriatic arthritis (ACR20) at week 24 compared to 50.6 percent of patients on placebo.

  • 14:24 IST:

    Sun Pharma in its disclosure to exchanges, states that interim results of phase II study of Ilumya has shown that over 71% patients suffering from psoriatic arthritis & treated with the drug have shown 20% improvement in joint & skin symptoms.

    "The interim results showed ILUMYA™ was well tolerated with a low rate of serious treatment-emergent adverse events," the filing added.  

    The Phase 2 study interim results showed that across all patients receiving ILUMYA™, 75.3 percent experienced a 20 percent improvement in symptoms of psoriatic arthritis (ACR20) at week 24 compared to 50.6 percent of patients on placebo.

  • 14:19 IST

    Canara Bank floats RFP to select BRLMs/merchant bankers to raise equity through QIP




    In regards to funds raising through Qualified Institutional Placement (QIP), Canara Bank has annouced that to float RFP to select BRLMs/merchant bankers to raise equity through QIP.

  • 14:19 IST:


    In regards to funds raising through Qualified Institutional Placement (QIP), Canara Bank has annouced that to float RFP to select BRLMs/merchant bankers to raise equity through QIP.

  • 14:08 IST

    Maruti changes its vehicle portfolio




    Maruti has informed the exchanges today about changes its vehicle portfolio. The automobile giant has launched BS-VI compliant flagship models, with introduction of CNG variant in New Alto at the price range of Rs. 4.10 and Rs. 4.14 lakh, introduction of safety compliant Swift (petrol and Diesel) & BS-VI compliant (Petrol), compliant to "AIS-145 Safety Norms" at the cost of Rs 5.14-8.89 lakh ex-Showroom Delhi. the co. has also introduced BS-VI compliant WagonR (1.2 Ltr)with revision in prices to range of Rs 5.10-5.96 lakh.

  • 14:08 IST:


    Maruti has informed the exchanges today about changes its vehicle portfolio. The automobile giant has launched BS-VI compliant flagship models, with introduction of CNG variant in New Alto at the price range of Rs. 4.10 and Rs. 4.14 lakh, introduction of safety compliant Swift (petrol and Diesel) & BS-VI compliant (Petrol), compliant to "AIS-145 Safety Norms" at the cost of Rs 5.14-8.89 lakh ex-Showroom Delhi. the co. has also introduced BS-VI compliant WagonR (1.2 Ltr)with revision in prices to range of Rs 5.10-5.96 lakh.

  • 13:32 IST

    Federal Bank to consider issue of bonds worth Rs 500 crore


    Federal Bank announced that the bank is to consider issue of bonds worth Rs 500 crore on private placement basis on bank's board meet, that is to be held on June 20. Of this, approve allotment of rated, unsecured, listed, redeemable Basel III Compliant Tier II bonds is worth Rs 100 crore and another option to retain over subscription of rated, unsecured, listed, redeemable Basel III Compliant Tier II bonds is for Rs 400 crores.

  • 13:32 IST:

    Federal Bank announced that the bank is to consider issue of bonds worth Rs 500 crore on private placement basis on bank's board meet, that is to be held on June 20. Of this, approve allotment of rated, unsecured, listed, redeemable Basel III Compliant Tier II bonds is worth Rs 100 crore and another option to retain over subscription of rated, unsecured, listed, redeemable Basel III Compliant Tier II bonds is for Rs 400 crores.

  • 13:09 IST

    May WPI inflation comes in at 2.45%



    Wholesale price-based inflation slipped to about two-year low at 2.45 per cent (provisional) in May compared to 3.07 per cent (provisional) for the previous month and 4.78 per cent during the corresponding month of the previous year. The major fall in inflation has been due to falling prices of food articles, fuel and power items, says official data.

    Read more: Wholesale inflation slips to 2-year low at 2.45% in May

  • 13:09 IST:

    Wholesale price-based inflation slipped to about two-year low at 2.45 per cent (provisional) in May compared to 3.07 per cent (provisional) for the previous month and 4.78 per cent during the corresponding month of the previous year. The major fall in inflation has been due to falling prices of food articles, fuel and power items, says official data.

    Read more: Wholesale inflation slips to 2-year low at 2.45% in May

  • 13:06 IST

    Hexaware 2% higher after announcing acquisition of Mobiquity for up to $182 m



    Hexaware Technoogies annoounced that Hexaware Technologies Inc., its wholly owned subsidiary, has acquired 100% shares of Mobiquity Inc. and Hexaware Technologies Limited has acquired 100% shares of Mobiquity Softech Private Limited (wholly owned subsidiary of Mobiquity Inc.).

    The corporate added that this acquisition would help gain traction in banking and Pharma verticals, which are the focus areas for Hexaware. It also, brings in valued partnerships particularly with A WS and Backbase.

    The cost of acquisition totalled to US$ 182 Mn, from which, upfront payout up to US$ 131 Mn has been made and another US$ 51 Mn deferred consideration is contingent on earnouts.

  • 13:06 IST:

    Hexaware Technoogies annoounced that Hexaware Technologies Inc., its wholly owned subsidiary, has acquired 100% shares of Mobiquity Inc. and Hexaware Technologies Limited has acquired 100% shares of Mobiquity Softech Private Limited (wholly owned subsidiary of Mobiquity Inc.).

    The corporate added that this acquisition would help gain traction in banking and Pharma verticals, which are the focus areas for Hexaware. It also, brings in valued partnerships particularly with A WS and Backbase.

    The cost of acquisition totalled to US$ 182 Mn, from which, upfront payout up to US$ 131 Mn has been made and another US$ 51 Mn deferred consideration is contingent on earnouts.

  • 12:40 IST

    Tech Mahindra appoints Haigreve Khaitan and Shikha Sharma as independent directors



    Tech Mahindra, today announced in the disclosure made through filing that "The BoD of the firm , based on the recommendation of the Nomination and Remuneration Committee proposed to the Members of the Company. the appointment of Mr. Haigreve Khaitan and Ms. Shikha Shanna as Independent Directors on the BoD of the Company". The term of appointment is for 5 years.

    Mr. Haigreve Khaitan, age 48 years is a Bachelor of Law and is a Partner of Khaitan & Co.

    Ms. Shikha Sharma, age 60 years is a BA (Hons) in Economics. PGD in Software Technology and PGD from IIM, Ahmedabad. She was also the Managing Director and CEO of Axis Bank from June 2009 till December 2018.

  • 12:40 IST:

    Tech Mahindra, today announced in the disclosure made through filing that "The BoD of the firm , based on the recommendation of the Nomination and Remuneration Committee proposed to the Members of the Company. the appointment of Mr. Haigreve Khaitan and Ms. Shikha Shanna as Independent Directors on the BoD of the Company". The term of appointment is for 5 years.

    Mr. Haigreve Khaitan, age 48 years is a Bachelor of Law and is a Partner of Khaitan & Co.

    Ms. Shikha Sharma, age 60 years is a BA (Hons) in Economics. PGD in Software Technology and PGD from IIM, Ahmedabad. She was also the Managing Director and CEO of Axis Bank from June 2009 till December 2018.

  • 12:12 IST

    Paper production at all-time low



    Domestic paper production (excluding newsprint) touched an all-time low of 6.9 million tonnes during 2018/19. Data collated from CMIE shows that this is the second consecutive year of double-digit fall in the paper output-- (-)11.5 per cent in 2017/18 and (-)31 per cent in 2018/19.

    The rapidly falling demand for paper is expected to remain weak owing to the shift in consumption pattern from paper to digital technologies. Consumption of all kinds of paper (excluding newsprint) declined for the first time in 2017/18 by 16.4 per cent and stood at 10.9 million tonnes.

    Read more: Slowdown Blues: Paper production at all-time low, book publishing sector takes a hit

  • 12:12 IST:

    Domestic paper production (excluding newsprint) touched an all-time low of 6.9 million tonnes during 2018/19. Data collated from CMIE shows that this is the second consecutive year of double-digit fall in the paper output-- (-)11.5 per cent in 2017/18 and (-)31 per cent in 2018/19.

    The rapidly falling demand for paper is expected to remain weak owing to the shift in consumption pattern from paper to digital technologies. Consumption of all kinds of paper (excluding newsprint) declined for the first time in 2017/18 by 16.4 per cent and stood at 10.9 million tonnes.

    Read more: Slowdown Blues: Paper production at all-time low, book publishing sector takes a hit

  • 12:06 IST

    Mike Pompeo pushes Delhi to further open its economy and drop trade barriers



    Ahead of his visit to India, US Secretary of State Mike Pompeo has pushed New Delhi to further open its economy and drop the trade barriers, saying countries that have provided American companies access to their markets have seen "real opportunity".

    Speaking at the India Ideas Summit of US-India Business Council here on Wednesday, he also said America is "open" to dialogue on trade issues.

    Read More: Mike Pompeo pushes India to drop trade barriers, give access to US in local markets

  • 12:06 IST:

    Ahead of his visit to India, US Secretary of State Mike Pompeo has pushed New Delhi to further open its economy and drop the trade barriers, saying countries that have provided American companies access to their markets have seen "real opportunity".

    Speaking at the India Ideas Summit of US-India Business Council here on Wednesday, he also said America is "open" to dialogue on trade issues.

    Read More: Mike Pompeo pushes India to drop trade barriers, give access to US in local markets

  • 11:41 IST

    RITES board to consider bonus issue on June 24'

    RITES Ltd, the engineering consultancy, has announced today that the firm is to consider the proposal for issuance of Bonus Share at the BoD meet, that is scheduled to be held on Monday, June 24, 2019. Following the disclosure, the share price of RITES, rose 6.36% to intraday high of Rs 294.50 on BSE. the stock currently trades 5% up at Rs 290.

  • 11:41 IST: RITES Ltd, the engineering consultancy, has announced today that the firm is to consider the proposal for issuance of Bonus Share at the BoD meet, that is scheduled to be held on Monday, June 24, 2019. Following the disclosure, the share price of RITES, rose 6.36% to intraday high of Rs 294.50 on BSE. the stock currently trades 5% up at Rs 290.

  • 11:07 IST

    Dr Reddy's opened lower after Co announces sale of its neurology branded products

    Dr. Reddy's Laboratories announced today that it entered into a definitive agreement with Upsher-Smith Laboratories, LLC for selling its neurology branded products.
    Dr.Reddy's will receive U.S.$70 million as upfront consideration, U.S.$40.5 million in near term milestones and additional financial considerations including, existing contractual obligation and inventory. Subsequently, Dr. Reddy's will receive sales based royalties on a quarterly basis.

  • 11:07 IST:
    Dr. Reddy's Laboratories announced today that it entered into a definitive agreement with Upsher-Smith Laboratories, LLC for selling its neurology branded products.
    Dr.Reddy's will receive U.S.$70 million as upfront consideration, U.S.$40.5 million in near term milestones and additional financial considerations including, existing contractual obligation and inventory. Subsequently, Dr. Reddy's will receive sales based royalties on a quarterly basis.

  • 10:47 IST

    Oil tankers attack update

    According to experts, market mood was negative tracking weak cues from global markets amid rising crude oil prices after attacks on two oil tankers in the Gulf of Oman on Thursday, and continued uncertainty over trade talks between the US and China.The United States has blamed Iran for the attacks as the incident came amid spiralling tensions between Tehran and Washington which has pointed the finger at Iran over earlier tanker attacks in May. U.S. stocks rose on Thursday after two days of declines, with energy shares rebounding on the back of crude oil’s surge.(Reuters)

  • 10:47 IST: According to experts, market mood was negative tracking weak cues from global markets amid rising crude oil prices after attacks on two oil tankers in the Gulf of Oman on Thursday, and continued uncertainty over trade talks between the US and China.The United States has blamed Iran for the attacks as the incident came amid spiralling tensions between Tehran and Washington which has pointed the finger at Iran over earlier tanker attacks in May. U.S. stocks rose on Thursday after two days of declines, with energy shares rebounding on the back of crude oil’s surge.(Reuters)

  • 10:41 IST

    Jet Airways 11% down today



    On both the exchange platforms, the stock of Jet Airways is trading at Rs 81, down over 11%. Jet Airways today was down 10% at opening after sliding 20% yesterday after NSE announced to close daily trading on the stock, effective June28.

  • 10:41 IST:

    On both the exchange platforms, the stock of Jet Airways is trading at Rs 81, down over 11%. Jet Airways today was down 10% at opening after sliding 20% yesterday after NSE announced to close daily trading on the stock, effective June28.

  • 10:27 IST

    Wockhardt gets zero observation for Aurangabad facility by USFDA

    The company has announced that after the inspection of Bioequivalence Centre located at R&D Centre, Aurangabad from 10th - 12th June by the USFDA (U. S. Food and Drug Administration), there was Nil observation (i.e. zero 483 observation), signifying that best practices were followed, in compliance to regulations.

  • 10:27 IST: The company has announced that after the inspection of Bioequivalence Centre located at R&D Centre, Aurangabad from 10th - 12th June by the USFDA (U. S. Food and Drug Administration), there was Nil observation (i.e. zero 483 observation), signifying that best practices were followed, in compliance to regulations.

  • 09:45 IST

    Brent Crude

    Oil rallied nearly 5% on escalating Middle East tensions. Brent Crude, the global Oil Benchmark is hovering at $61.2/bbl after it has touched intra-day low of below $60/bbl yesterday.
    On the contrary, Petrol price decrease in the range of 16 to 18 paise & diesel price decrease in the range of 16 to 17 paise across four major cities.(Reuters)

  • 09:45 IST:
    Oil rallied nearly 5% on escalating Middle East tensions. Brent Crude, the global Oil Benchmark is hovering at $61.2/bbl after it has touched intra-day low of below $60/bbl yesterday.
    On the contrary, Petrol price decrease in the range of 16 to 18 paise & diesel price decrease in the range of 16 to 17 paise across four major cities.(Reuters)

  • 09:41 IST

    Global Update


    Asian markets like Hong Kong and China Index declined marginally (0.2%) while Nikkei Index is up 0.3%. On the Singapore Exchange, SGX Nifty declined 0.2% or 17 pts to levels around 11,890 Vs Nifty June Fut's Thursday's close of 11,928, indicating a lower opening on Dalal Street.

    While on the Wall-Street, US Stocks have had a strong run in June so far on hopes the Federal Reserve will act to counter a slowing global economy.

  • 09:41 IST:
    Asian markets like Hong Kong and China Index declined marginally (0.2%) while Nikkei Index is up 0.3%. On the Singapore Exchange, SGX Nifty declined 0.2% or 17 pts to levels around 11,890 Vs Nifty June Fut's Thursday's close of 11,928, indicating a lower opening on Dalal Street.

    While on the Wall-Street, US Stocks have had a strong run in June so far on hopes the Federal Reserve will act to counter a slowing global economy.

  • 09:28 IST

    Market update

    Benchmark indices, after opening with positive bias, turned negative to trade marginally lower in today's trade. Sensex is down by 75 points to 39,667 level, with  18 components trading in red, while Nifty is trading down by 28 points, 11,885, with 34 out of 50 declining stocks.

  • 09:28 IST: Benchmark indices, after opening with positive bias, turned negative to trade marginally lower in today's trade. Sensex is down by 75 points to 39,667 level, with  18 components trading in red, while Nifty is trading down by 28 points, 11,885, with 34 out of 50 declining stocks.

  • 09:24 IST

    Gainers/Losers

    YES Bank, UPL, GAIL, Bajaj Finance and Maruti were among the top gainers on NSE, while Grasim, IOC, BPCL, Dr. Reddy and Reliance Industries were the leading losers at the opening bell.

  • 09:24 IST: YES Bank, UPL, GAIL, Bajaj Finance and Maruti were among the top gainers on NSE, while Grasim, IOC, BPCL, Dr. Reddy and Reliance Industries were the leading losers at the opening bell.

  • 09:23 IST

    Opening Bell

    Sexsex opens at 55 points up at 39797 against yesterday close of 39741.36 while Nifty started at 11,910 level,with 17 advances. 11,910.10.

  • 09:23 IST: Sexsex opens at 55 points up at 39797 against yesterday close of 39741.36 while Nifty started at 11,910 level,with 17 advances. 11,910.10.

  • 09:15 IST

    FII and DII

    Foreign institutional investors bought equity worth Rs 172.35 crore, while domestic institutional investors sold shares to the tune of Rs 444.87 crore, provisional data available with stock exchanges showed on Wednesday.

  • 09:15 IST: Foreign institutional investors bought equity worth Rs 172.35 crore, while domestic institutional investors sold shares to the tune of Rs 444.87 crore, provisional data available with stock exchanges showed on Wednesday.

  • 09:14 IST

    Rupee opens flat today



    On the currency front, the Indian rupee opened flat Friday morning, at 69.51 against the dollar, same as yesterday's close.

  • 09:14 IST:

    On the currency front, the Indian rupee opened flat Friday morning, at 69.51 against the dollar, same as yesterday's close.

  • 09:12 IST

    Thursday's close

    Yesterday, benchmark indices showed recovery off from day's low in the last hour of trade, with Sensex closing at 39,741, at a decline of mere 15 points and Nifty, that closed on the green, up by 7 points to close at 11,914 level. On Sensex, 17 stocks out of 30 closed in the red, while on Nifty 26 out of 50 components closed in the green.

  • 09:12 IST:
    Yesterday, benchmark indices showed recovery off from day's low in the last hour of trade, with Sensex closing at 39,741, at a decline of mere 15 points and Nifty, that closed on the green, up by 7 points to close at 11,914 level. On Sensex, 17 stocks out of 30 closed in the red, while on Nifty 26 out of 50 components closed in the green.