Share Market updates: Sensex falls 161 points, Nifty ends at 11,604; YES Bank, Bajaj Finance, Vedanta top losers
BusinessToday.In April 8, 2019
Benchmark indices Sensex and Nifty settled lower today amid BJP announcing its manifesto for Lok Sabha Elections 2019. While Sensex closed 161 points lower at 38,700, Nifty fell 61 points to 11,604.
Here's a look at live updates for the Indian share market today.
3: 45 pm: Infosys (1.44%), M&M (1.07%) and ONGC (1.05%) were the top Sensex gainers.
3: 40 pm: Of 30 Sensex stocks, 20 closed in the red.
3: 35 pm: Top Sensex losers were YES Bank (2.66%), Bajaj Finance (2.57%) and Vedanta (2.51%).
3: 30 pm: Sensex drops 161.70 points to close at 38,700.53; Nifty down 61.45 points at 11,604.50.2: 30 pm: The initial public offering (IPO) of wires and cables manufacturer Polycab India was subscribed 1.18 times so far on the second day of bidding Monday. The IPO to raise about Rs 1,345 crore received bids for 2,08,89,765 shares as against the total issue size of 1,76,37,777 shares, according to the National Stock Exchange's data till 1430 hours. Till Friday, the issue was subscribed 71 per cent.
1: 00 pm: Auto major Mahindra & Mahindra on Monday said its pick up vehicles' domestic sale crossed 1.5 lakh units in domestic marker during the fiscal ended March this year. The pick up range has sold 1,62,000 vehicles in FY-2019, compared to 1,49,121 vehicles in FY-2018, logging a 9 per cent growth, thereby posting the highest-ever annual sales growth in the segment since the launch, the company said in a release.
12: 45 pm: SBI has invited expression of interest from asset reconstruction companies and financial institutions to sell two non-performing accounts to recover dues of over Rs 423 crore. The e-auction for the NPA accounts -- Kamachi Industries and SNS Starch --is scheduled for April 25, 2019, SBI said in an expression of interest (EoI) invite. "In terms of the bank's policy on sale of financial assets, in line with the regulatory guidelines, we place these accounts for sale to banks/ ARCs/NBFCs/ FIs," SBI said.
12: 30 pm: India's GDP growth is expected to accelerate moderately to 7.5 per cent in Fiscal Year 19-20, driven by continued investment strengthening, particularly private-improved export performance and resilient consumption, the World Bank has said.
The real GDP growth is estimated at 7.2 per cent in FY18/19, the World Bank said in its latest report on South Asia on Sunday ahead of the spring meeting of the World Bank and the International Monetary Fund.
11:45 am: 23 Sectors declined (Top loser: BSE Energy 0.85 %) while 20 Sectors advanced (Top gainer: BSE Power 0.83%)
11:30 am: IT shares tarding green in the morning session; Mindtree, Wipro among top gainers. Tata Consultancy Services (up 0.23 per cent) and Tata Elxsi (up 0.15 per cent) were also among the top performers in the index.
11:25 am: Realty shares were trading with gains; Indiabulls Real Estate up 9%, Oberoi Realty up 1.93%, Sobha Ltd. up 1.19 %. Among the 50 stocks in the Nifty index, 22 were trading in the green, while 27 were in the red.
11:15 am: Small Caps has led the market with Nifty Small 100 gained by 0.42%.
11:00 am: Sobha Ltd. annouced Real Estate Operations Update for the quarter ended March 31, 2019. The company achieved pre-sales of 4.03 million square feet valued at Rs. 31.23 billion in the FY 18-19, the highest ever new sales booking in the history of the company. Sales volume are also up by 24 % QoQ. Sobha Ltd share price opened at Rs. 496.25 against the previous close of Rs.493 and touched day's high at Rs. 506 by climbing 2.64%.
10:50 am: Tata Steel Ltd.'s shares hit upper circuit as the company declared its 4QFY19 and FY19 - Key Production and Sales Figure. India operations achieved the highest ever Crude Steel production as well as recorded the highest ever sales volume in 4QFY19. 4QFY19 production grew by 46%YoY to 4.47 mn tons, while the sales' volumes increased by 56%YoY and 22%QoQ to 4.73 mn tons during the quarter. The shares of Tata Steel opened 9 % above the previous close and climbed 9.96% to days high of Rs. 92.20, which is also the LTP of the stock.
10:40 am: Indiabulls Housing Finance leads the top index losers list after announcing merger with Lakshmi Vilas Bank on Friday. The share price of Indiabulls Housing Finance opened 1.8 % below the previous close of Rs. 903.15 and touched an intraday low of Rs 866.75 diving 4.03%. On the contrary, Lakshmi Vilas Bank shares hit upper circuit and currently trades at day's high at Rs. 97, which is same as the day's low and opening price against the previous close of Rs. 92.75.
10:30 am: Lenders of Korba West Power Company Limited (KWPCL), a company undergoing insolvency resolution process has approved the Resolution Plan submitted by Adani Power Limited. The stock currently trades at Rs. 50.15.
10:15 am: NIIT Ltd share price hits upper circuit of 19.96% at 114.50 after the firm says Baring Private Equity Asia to acquire 30% stake in NIIT Technologies Limited from NIIT Limited and other promoter entities and make an open offer to public shareholders'.
9: 56 am: Nifty too cut gains to a mere 2 points to 11,668.
9: 54 am: Sensex pares some gains, trading 55 points higher at 38,918.
9: 34 am: Bharti Airtel (1.64%), PowerGrid (1.63%) and Infosys (1.29%) were the top Sensex gainers.
9: 30 am: Top Sensex losers were YES Bank (0.77%), RIL (0.52%) and Tata Motors (0.49%).
9: 27 am: On Friday, Sensex closed 177 points or 0.46% higher at 38,862 level and Nifty rose 67 points to 11,665 level.
9: 25 am: Mid cap and small cap indices were trading 38 points and 66 points higher in early trade.
9: 21 am : Market breadth was positive with 1013 stocks trading higher compared to 636 falling on the BSE.
9: 20 am : Capital goods and metal stocks led the gains with their indices rising 132 points and 87 points, respectively.
9: 15 am: While Sensex rallied 100 points to 38,962 points in early trade, Nifty climbed 19 points to 11,685.
9: 05 am: The rupee opened lower by 11 paise at 69.33 per dollar on Monday compared to Friday's close of 69.22.
9:00 am: On a net basis, foreign portfolio investors (FPIs) bought shares worth a net of Rs 797.9 crore on Friday, and domestic institutional investors (DIIs) were net sellers to the tune of Rs 325.38 crore, provisional data available with BSE showed.