6 min read.Updated: 04 Jan 2019, 04:10 PM ISTLivemint
The BSE Sensex closed 181.39 points, or 0.51%, up at 35,695.10, and the Nifty 50 ended 55.10 points, or 0.52%, higher at 10,727.35. Here are the latest updates from the markets.
Mumbai: Indian shares rose on Friday, snapping a two-day losing streak, led by bank and auto stocks amid positive sentiment from the global equity markets. However, losses in market heavyweight IT stocks such as Infosys, TCS and HCL Tech limited gains. Moreover, in India, investors turned cautious ahead of corporate earnings season beginning next week, with TCS and Infosys reporting December quarter results in the first round. Shares of state-run banks rallied, with the Nifty PSU Bank Index surging over 2%, following a nearly Rs 27,000 crore recapitalisation drive by the government.The BSE Sensex closed 181.39 points, or 0.51%, up at 35,695.10, and the Nifty 50 ended 55.10 points, or 0.52%, higher at 10,727.35.The BSE midcap and smallcap indices added 0.48% and 0.10%, respectively. Among the sectoral indices on BSE, telecom rallied 2.7% followed by metal, utilities, finance and bankex, which rose 0.9% to 1.4%. IT, teck, consumer durables, FMCG and capital goods declined.“We’re currently seeing tussle between the bulls and bears and indications are in the favour of further slide. Global cues will continue to dictate the trend in absence of domestic trigger thus participants should keep a close watch on world markets,” said Jayant Manglik, President, Religare Broking Ltd.In global markets, European stocks advanced along with US equity futures as US and China scheduled fresh trade negotiations next week. Asian shares were mixed. Oil prices built on recent gains, heading for its biggest weekly advance since June as OPEC applied production cuts. Here are the latest updates from the markets:
The BSE Sensex closed 181.39 points, or 0.51%, up at 35,695.10, and the Nifty 50 ended 55.10 points, or 0.52%, higher at 10,727.35.
04 Jan 2019, 02:58:00 PM IST
Bank of Maharashtra shares gain 2%
Bank of Maharashtra Ltd said it will raise upto Rs 4,498 crore by issuing shares to the government. Bank of Maharashtra shares traded 2.18% up at Rs 15.45 per share.
04 Jan 2019, 02:32:00 PM IST
Repco Home Finance to sell Kotak insurance product
Repco Home Finance said it has entered into an agreement with Kotak Mahindra General Insurance Co and Kotak Mahindra Life Insurance Co for the purpose of distribution of their insurance products.
04 Jan 2019, 01:45:00 PM IST
European stock markets rebound at open
Europe’s main stock markets rebounded at the start of trading on Friday, with all eyes on key US jobs data. London’s benchmark FTSE 100 index jumped 1.0 percent to 6,761.76 points compared with the close on Thursday. In the eurozone, Frankfurt’s DAX 30 grew 1.1 percent to 10,533.94 points and the Paris CAC 40 won 0.8 percent to 4,649.63. AFP
04 Jan 2019, 01:27:00 PM IST
RBI PCA banks: Queue to check out of Hotel California is slowly forming
The government's capital infusion seeks to mend the capital ratios of the weak banks under the prompt corrective action (PCA) framework. The fresh money should enable banks to get the numbers to exit PCA, writes @aparnaviyer02https://t.co/zu7fgYp39U
The BSE Sensex gains 218.35 points, or 0.61%, to 35,732.06, and the Nifty 50 rose 60.70 points, or 0.57%, to 10,732.95.
04 Jan 2019, 12:31:00 PM IST
CMI gets Rs 21 crore order, shares down 3%
CMI Ltd said it has received a letter of intent for the maiden order worth Rs 20.93 crore from East Central railway for supply of 1144.64 Kms of Railway signalling cables. CMI shares traded 3.18% down at Rs 173.50 per share.
04 Jan 2019, 12:05:00 PM IST
Oil prices rise on China-U.S. trade talks, OPEC cuts
Oil prices rose on Friday, shaking off early losses after China said it would hold talks with the U.S. government on Jan. 7-8 to look for solutions to a trade dispute between the world’s two biggest economies. Brent crude futures were at $56.33 per barrel, up 38 cents, or 0.7%, from their last close. U.S. West Texas Intermediate (WTI) crude oil futures were at $47.73 per barrel, up 64 cents, or 1.4%.
04 Jan 2019, 11:38:00 AM IST
ICICI Bank recovers after announces tie up with NBFC
ICICI Bank erased losses and traded 0.18% up at Rs 363.90 per share after the bank said it has signed an MoU with Small Business FinCredit India to jointly provide credit to MSMEs. The agreement is in line with RBI’s circular that allowed banks to engage with a non-banking financial company to co-originate loans for the creation of priority sector assets.
04 Jan 2019, 10:16:00 AM IST
Market Update: Sensex, Nifty erase gains
The BSE Sensex fell 41.75 points, or 0.12%, to 35,471.96, and the Nifty 50 was down 10.85 points, or 0.10%, to 10,661.40.The Sensex opened at 35,590.79 and rose 191 points to a high of 35,704.85. The Nifty opened at 10,699.70 and jumped 44.6 points to a peak of 10,716.85.The BSE midcap and smallcap indices declined 0.04% and 0.25%, respectively. Among the sectoral indices on BSE, telecom gained most at over 1% followed by utilities, power and oil and gas. IT and teck fell over 1%. Consumer durables, basic materials and energy also fell.Tata Motors, Bharti Airtel, NTPC, ONGC and Axis Bank were among the top gainers on the key indices, whereas TCS, HCL Tech, Infosys, ICICI Bank, Reliance and Yes Bank were major losers.
04 Jan 2019, 09:54:00 AM IST
GM Breweries fall 10% on earnings
GM Breweries Ltd fell 10% to Rs 651.15 after the company said its profit for December quarter dropped by around 25% from a year ago to Rs 16.71 crore from Rs 22.30 crore a year ago.
04 Jan 2019, 09:26:00 AM IST
Jet Airways shares down over 3%
Jet Airways shares fell as much as 3.34% to Rs 238.60 per share after the Economic Times reported the company has proposed to its lenders that revenue from ticket sales be securitised against outstanding debt.
04 Jan 2019, 09:11:00 AM IST
Rupee gains against US dollar
The Indian rupee strengthened marginally against the US dollar, tracking gains in Asian currencies as dollar fell on weak US manufacturing data. At 9.10am, the rupee was trading at 69.95 a dollar, up 0.33% from previous close of 70.18. It opened at 69.97 and touched a high and a low of 69.90 and 69.99 respectively. The 10-year gilt yield was trading at 7.406% from its previous close of 7.427%.
04 Jan 2019, 09:06:00 AM IST
2019 elections will not impact markets: Credit Suisse’ Neelkanth Mishra
04 Jan 2019, 09:00:00 AM IST
Sensex, Nifty down over 2% in last two sessions
04 Jan 2019, 08:53:00 AM IST
Commodity corner: Oil prices fall, gold at over 6-month high, metals gain
Oil prices fell after the US followed most other major economies into a manufacturing downturn, although supply cuts by producer club OPEC kept declines in check. International Brent crude futures were down 39 cents, or 0.7% at $55.56 a barrel. US WTI crude oil futures were at $46.93 per barrel, down 16 cents, or 0.3%.Metals: London copper rose more than 1% on bargain buying although the market is poised for its biggest weekly decline in almost two months on worries over slowing consumption in top consumer China. Three-month LME copper rose 1.1% to $5,801.5 a tonne and the most-traded copper contract in Shanghai slid 1.1% to $6,806.63 a tonne.Gold prices rose to a fresh 6-1/2 month high as tumbling share markets on the back of weak US data fanned fears of a global economic slowdown, putting the safe haven metal on track for a third weekly gain. Spot gold gained 0.3% to $1,297.20 per ounce, having earlier touched its highest since mid-June at $1,298.34. The metal has risen more than 1% so far this week. US gold futures were up 0.3% at $1,298.70 per ounce. Reuters
04 Jan 2019, 08:43:00 AM IST
Asian stocks trade lower, Japan down 4%
Japan stocks slumped on its first trading day of the year, leading Asian stocks lower, after weak economic data added to anxiety about global growth and Apple Inc.’s sales outlook cut sunk U.S. stocks. Yen slipped after Thursday’s shock surge. The Nikkei 225 Stock Average dropped as much as 3.9 percent as traders returned from an extended new-year break, while Australian shares also slipped. The S&P 500 Index slid 2.5 percent on Thursday for the steepest sell-off since Christmas Eve as Apple tumbled after citing an unforeseen slowdown in China.Japan’s Topix index fell 2.3 percent as of 11:29 a.m. in Tokyo. Australia’s S&P/ASX 200 Index slipped 0.9 percent. Hong Kong’s Hang Seng Index climbed 0.8 percent. S&P 500 futures edged up 0.1 percent. Bloomberg