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Business News/ Markets / Live Blog/  Markets end positive for the third consecutive day, Sensex slips below 40K-mark
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Markets end positive for the third consecutive day, Sensex slips below 40K-mark

Nifty closed above 11,950-mark at 11,962.65 rising 39.95 points
  • Gains in the metal and bank segment helped the indices to end higher
  •  (Bloomberg)Premium
    (Bloomberg)

    The equity benchmark indices on Tuesday ended positive for the third consecutive session but both Sensex and Nifty were off-days high.

    Sensex closed 165.94 points, or 0.42%, higher at 39,950.46 while Nifty settled at 11,962.65 rising 39.95 points, 0.34%.

    The broader market also closed positive with both the BSE Midcap and Smallcap indices advancing 0.79% and 0.24% respectively.

    Tata Motors, Yes Bank, IndusInd Bank, ONGC and Vedanta were top contributing stocks on BSE rising as much as 4.32%.

    Sector-wise, BSE Metal (1.33%), Oil and Gas (0.91%), Bankex (0.87%), Energy (0.77%) and Telecom (0.74%) were the top performing sectors.

    On NSE, Nifty PSU Banks toke the pole position among the sectors rising 1.69% followed by Metal (1.32%), Media (1.31%), Private Bank (0.79%) and Nifty Bank (0.75%).

    32 out of 50 stocks on NSE ended with gains with Yes Bank, Tata Motors, IndusInd Bank, Zee Entertainment and JSW Steel being the top performing stocks surging as much as 2.83%.

    11 Jun 2019, 03:24:43 PM IST

    Market at close

    The benchmark equity indices are set to close positive for the third straight session but both Nifty and Sensex are off day's high. Sensex is up 193.73 points, or 0.49%, at 39,978.25 while Nifty is at 11,967.55 rising 44.85 points, or 0.38%.

    11 Jun 2019, 03:19:57 PM IST

    Moody's places Yes Bank's ratings under review for downgrade

    Moody's placed Yes Bank Limited's foreign currency issuer rating of Ba1 under review for downgrade.

    "We have also placed the bank's long-term foreign and local currency bank deposit ratings of Ba1, foreign currency senior unsecured MTN program rating of (P)Ba1, and Baseline Credit Assessment (BCA) and adjusted BCA of ba2 under review for downgrade," the company said in a report.

    11 Jun 2019, 02:45:26 PM IST

    Indiabulls Housing Finance down almost 8%

    Shares of Indiabulls Housing Finance slipped almost 8% during the afternoon trade after a plea was filed in the Supreme Court on Monday by Abhay Yadav seeking legal action against IBHFL, its Chairman and directors for alleged mis-appropriation of ₹98,000 crore of public money, as reported by PTI. During the morning trade, the stock was down 10%.

    On BSE, the shares of the company is at ₹675.90 down 7.80%, while on NSE it is down 7.78% at ₹676.30.

    11 Jun 2019, 02:28:22 PM IST

    Bharat Dynamic signs deal to supply torpedoes; shares up 3.7%

    Shares of Bharat Dynamics rose 3.7% on BSE at ₹296.70 after the company announced it has signed a contract of ₹1,187.82 crore for supply of heavy weight torpedoes. The company said that the contract has to be executed in next 42 months.

    On NSE, the company trades at ₹294.65 up 3.20%.

    11 Jun 2019, 02:23:01 PM IST

    Nifty PSU Bank top gainer among sectors

    Nifty PSU Bank rises 1.92% becoming the best performing sector on NSE. Nifty Bank (1.11%) and Nifty Private Banks (1.18%) also trades higher.

    Canara Bank, Allahabad Bank, Bank of Baroda, Union Bank and Indian Bank were the most contributors on the sector surging as much as 3.89%.

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    11 Jun 2019, 02:05:36 PM IST

    ADAG stocks trade low

    Shares of ADAG stocks slipped on BSE after Anil Ambani, chairman of Anil Dhirubhai Ambani Group (ADAG) said in a telephonic conference that the group in the past 14 months has serviced debt liability of ₹35,000 crore comprising ₹24,800 crore as principal payment and ₹10,600 crore as interest repayment.

    1) Reliance Infrastructure down 2.96% at ₹62.30

    2) Reliance Communication trades at 52-week low of ₹1.66 falling 4.60%

    3) Reliance Power down 1.57% at ₹5.66

    11 Jun 2019, 12:28:35 PM IST

    Markets at day's high

    The equity benchmark indices are trading at day's high as Sensex nears 40,000-mark. The 30-share index up 168.62 points, or 0.43%, at 39,784.52 while the broader Nifty is at 11,951.10 rising 28.40 points, or 0.24%.

    Gains in Sensex is led by ONGC, Tata Motors, HCL Technologies and Yes Bank advancing as much as 2.58%. On NSE, Zee Entertainment (2.50%) and Vedanta (2.18%) were among top five gainers along with the above stocks.

    11 Jun 2019, 11:39:33 AM IST

    Sun Pharma shares tumbles 4% on Goldman downgrade

    Shares of drug major Sun Pharma shredded 4% to ₹383.85 in the morning after Goldman Sachs downgraded the company to 'sell' changing the target price to ₹355 from ₹437.

    The company is trading at ₹387.20 down 3.65% on BSE while on NSE it has lost 3.76% at ₹386.95%.

    11 Jun 2019, 11:07:48 AM IST

    Passenger vehicle sales drop 20% in May

    Domestic passenger vehicle sales declined 20.55% to 2,39,347 units in May.

    Domestic car sales were down 26.03% to 1,47,546 units, according to data released by the Society of Indian Automobile Manufacturers (SIAM) on Tuesday.

    Motorcycle sales last month declined 4.89% to 11,62,373 units as against 12,22,164 units a year earlier. Total two-wheeler sales in May declined 6.73% to 17,26,206 units (M-o-M).

    Sales of commercial vehicles were down 10.02% to 68,847 units in May, SIAM said. Vehicle sales across categories registered a decline of 8.62% to 20,86,358 units from 22,83,262 units in May 2018.

    11 Jun 2019, 10:46:58 AM IST

    JSW Steel crude steel production rises 4%

    JSW Steel reported a growth of 4% in crude steel production to 14.53 lakh tonnes in May 2019 as against 13.99 lakh tonnes in May 2018.

    11 Jun 2019, 10:39:21 AM IST

    Nifty Pharma worst performer among sectors

    With eight out of 10 stocks compiled on Nifty Pharma trading low, the sector slips 1%.

    It is the worst performing sector on Nifty so far. Sun Pharma and Cadila Healthcare are the biggest laggards on the sector falling 3.77% and 1.62%.

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    11 Jun 2019, 10:11:50 AM IST

    Eveready Industries falls on rating downgrade

    Shares of Eveready Industries trading at ₹87.80 down 3.62% on NSE post downgrade of its long term credit rating to IND BBB from IND A+ by India Ratings. The company's rating was maintained to negative.

    On BSE, the scrip was down 2.59% at ₹88.55.

    11 Jun 2019, 10:04:26 AM IST

    Jet Airways slips 13%

    Shares of debt-laden Jet Airways slipped 13% on both the indices after the company filed for NCLT on Monday.

    On BSE, Jet Airways shares had touched 52-week low and trading at ₹109.30 down 12.95% while on NSE the shares plunged 12.94% at ₹108.65.

    Meanwhile, Hinduja Group and Etihad Airways PJSC may not proceed with plans to resurrect Jet Airways, dealing a severe blow to efforts aimed at rescuing the airline that has suspended flights for nearly two months.

    London-based Hinduja Group has decided to halt negotiations to buy a stake in Jet Airways, while Etihad Airways of Abu Dhabi has put on hold a plan to add more investments in the Mumbai-based airline, said two people familiar with the matter, requesting anonymity.

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    11 Jun 2019, 09:57:21 AM IST

    Bank of India and OBC cuts MCLR rates

    Bank of India cuts 1-year MCLR by 5 bps to 8.65%. Oriental Bank of Commerce have cut it lending rates by 5-10 bps.

    11 Jun 2019, 09:47:58 AM IST

    Sterlite Tech rises 7% on release of entire pledge shares by promoters

    The optical fibre maker firm, Sterlite Technologies zoomed over 7% on BSE to ₹185.35 during the early trade after the promoters released entire pledged shares. The company’s Promoter Twin Star Overseas released entire pledge of 20.74 crore Sterlite Technologies’ shares (52.01%) of on 10 June, according to an exchange filing.

    11 Jun 2019, 09:42:34 AM IST

    Rupee, bond check

    Rupee opens higher at 69.45/$ vs its previous close of 69.65/$ on Monday. The 10-year government bond yield opens at 7.10%.

    11 Jun 2019, 09:31:42 AM IST

    Analysts warn caution on midcap funds

    Even as investors bet on a resurgence for medium-sized Indian companies after Prime Minister Narendra Modi’s return to power, one of the country’s top mid-cap fund manager advises caution. Read more here.

    11 Jun 2019, 09:27:34 AM IST

    Essel group stocks likely to be in focus

    The debt-ridden Essel group is looking to sell a minority stake in broadcaster Zee Entertainment Enterprises Ltd (ZEEL) to a financial investor by the end of July to meet immediate payment obligations.

    11 Jun 2019, 09:13:56 AM IST

    Nikkei edges higher in choppy trade

    Japan's Nikkei edged higher in choppy trade on Tuesday morning as investors took profits from sharp gains on the previous day, while a weaker yen underpinned cyclical stocks such as exporters.

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