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Share market HIGHLIGHTS: Sensex slides 184 points; Nifty ends below 12,050 mark; Yes Bank gains around 3%

June 4, 2019

Share Market Live, Stock Market Live, Nifty Live, NSE live, BSE live, Live Market Update, Market Today, Indian Share Market Live, Indian Stock Market Live, स्टॉक मार्केट, शेयर बाजार

The Indian headline indices- Sensex and Nifty ended lower on Tuesday as investors booked profit after the Sensex, Nifty hit record highs on Monday. While Sensex settled 184 points lower than the previous close at 40,083.54, Nifty ended at a level of 12,021.65, down 65 points from the last close. The benchmark indices hit a record high on Monday ahead of Reserve Bank of India meet on June 6. On BSE, among the top gainers are Yes Bank, NTPC, Axis Bank and Bajaj Finance, while the top losers are Hero MotoCorp, TCS, Asian Paints and Bajaj Auto.

ICICI Bank and Axis Bank shares fell on Tuesday after the rating firm Fitch downgraded both the banks on account of the weak financial health of private sector banks. On BSE, while Axis Bank shares turned green, ICICI Bank shares ended in red at Rs 481.95 per share, 0.92 per cent lower than the previous close. Shares of Axis Bank ended at Rs 821.40 per share, 1.12 per cent higher from the last close.

LIVE BLOG

15:32 (IST)04 JUN 2019
Economist view on expectations from RBI Policy

Our analysis suggests that the current liquidity concerns in the economy can be broadly attributed to the structural factors, which we together call the three 3Ds – namely, high ‘deficit’ of the public sector, low ‘deposit’ growth and high ‘demand’ for credit. These factors will intensify the competition for deposits and make it difficult for banks to cut deposit rates due to the fear of losing liabilities. This will, thus, limit the monetary transmission. It also proposes that significant monetary easing (short-term relief) without a clear restructuring of the financial system (long-term strategy) could actually aggravate the current imbalances by boosting consumption/investments and discouraging savers.

Considering the intense pressure and the absence of fiscal space, the monetary authority may decide to provide short term relief, but it also must ensure the natural economic tendencies address the excesses created in the economy. Then, the process will lead to controlled pain in the short-term, but will set the stage for sustained long-term growth. Productive and efficient use of resources, self-discipline and ability to eliminate excesses are the most important virtues that will determine the future of an economy over a longer period of time, according to Nikhil Gupta, Chief Economist, Motilal Oswal Financial Services.

14:46 (IST)04 JUN 2019
FIIs in india, here’s what expert says

There was a lot of excitement within the investor community related to the elections. They are just happy that there is a strong mandate and stable government for five years and are choosing big names and not so many midcaps, said Pankaj Vaish, global head of local markets rates and treasury at Citi in an interaction with CNBC TV18.

13:57 (IST)04 JUN 2019
What SEBI show cause notices to HDFC MF, Kotak MF mean for FMP investors in Essel securities

After SEBI sent separate show cause notices to HDFC Mutual Fund and Kotak Mutual Fund seeking details of the terms of investments and extension of maturity of fixed maturity plan (FMP) due to Essel Group inability to repay has brought the issue in focus once again. The two mutual fund houses made news in April after they couldn’t make complete repayment to the FMP investors.

Read more: What SEBI show cause notices to HDFC MF, Kotak MF mean for FMP investors in Essel securities

12:32 (IST)04 JUN 2019
IOC, BPCL, HPCL to form JV

Indian Oil Corp, Bharat Petroleum Corp and Hindustan Petroleum Corp have signed a pact to form a joint venture for implementation and operation of 2757 Km long LPG Pipeline from Kandla, Gujarat to Gorakhpur, UP. IOC, BPCL and HPCL would have 50%, 25% and 25% equity holding in the JV company.

12:07 (IST)04 JUN 2019
HPCL, IOC shares tumble about 1 per cent on Tuesday

Shares of Hindustan Petroleum Corp and Indian Oil Corp fell following reports that the Director General of GST Intelliegence has booked cases against both the companies for evasion of excise duty. While the IOC shares fell more than 1 per cent on BSE, the HPCL shares were also around 1 per cent at Rs 321.50 per share.

11:49 (IST)04 JUN 2019
RBI should increase liquidity in the NBFC sector, Piramal Group head says

The Reserve Bank of India will have to increase the liquidity in the NBFC sector and a special window for the NBFC sector should be opened, Ajay Piramal, chairman of Piramal Group said in an interaction with ET Now. The central bank needs to rebuild confidence in the financial system which is currently reeling under pressure due to NBFC and liquidity crisis.

11:26 (IST)04 JUN 2019
Trump trade talks with UK

US President Donald Trump meets outgoing Prime Minister Theresa May on Tuesday for trade-centred talks during his three day-visit To UK, with protesters set to gather outside the gates. Trump’s visit comes at a crucial time when the UK’s Prime Minister Theresa May is due to step down this Friday.

11:11 (IST)04 JUN 2019
PSU banks trade higher on Tuesday

The PSU banks shares are trading higher on Tuesday. On BSE,  Bank of Baroda, PNB and Canara Bank, are trading higher by 2 per cent on BSE. IDBI Bank shares are up around 7 per cent. State Bank of India or SBI shares are 0. 30 points up from the previous close.

10:58 (IST)04 JUN 2019
Infosys begins to review contracts with sanctions-hit Huawei

Tech-giant Infosys has resumed reviewing contracts with the US sanctions-hit Chinese telecom equipment maker Huawei, The  Economic Times reported Tuesday. The other IT firms are also likely to follow the move of Infosys so that their businesses don’t get affected due to US restrictions on Chinese company.

10:14 (IST)04 JUN 2019
Bharti Airtel’s arm IPO

Bharti Airtel’s arm- Airtel Africa, will proceed with its plan to launch an initial public offering for admission and listing of its shares on the main market of the London Stock Exchange. The offer is targeted to raise USD 750 million and the funds will be used to reduce its debt. Besides that, Airtel Africa is also considering a listing of its shares on the Nigerian Stock Exchange.

10:00 (IST)04 JUN 2019
BSE Heatmap

09:49 (IST)04 JUN 2019
US-Mexico trade war

Mexico launched a counteroffensive Monday against the threat of U.S. tariffs, warning not only that it would hurt the economies of both countries but also could cause a quarter-million more Central Americans to migrate north. A high-level delegation from the Mexican government held a news conference at the embassy in Washington, making the case against President Donald Trump’s threat of imposing a 5% tariff on Mexican imports by June 10, as Associated Press reported.

09:09 (IST)04 JUN 2019
Markets hit all time high on Monday; here’s what brokerage says

Naveen Kulkarni, Head of Research, Reliance Securities:

“Market has hit new all time high on  expectation that the Reserve Bank of India in the forthcoming monetary policy on JUNE 6 might cut rate by 50 basis point.”

09:06 (IST)04 JUN 2019
Rupee opens stronger on Tuesday against previous close

The rupee opened stronger amid falling global crude oil prices and strong FII inflows. The Indian currency opened at 69.15 per dollar against the previous close of 69.25 per dollar.  The Rupee is likely to trade in the range of 69.02-70.05 per dollar on Tuesday, according to Kedia Advisory.

09:02 (IST)04 JUN 2019
Crude oil prices fall on global slowdown concerns

Crude oil prices fell on Tuesday amid US-China trade war and fresh threats by the US President to Mexico of imposing trade tariffs. According to Kedia Advisory, the crude oil is likely to trade in the range of Rs 3,606 per barrel to Rs 3,848 per barrel. US crude oil production rose 241,000 barrels per day (bpd), or 2.1 per cent in March to 11.905 million bpd, just below its record high.

[“source=financialexpress”]


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