Sensex, Nifty end lower amid Indo-Pak tensions; Bharti Airtel gains 2%
27 February 2019
Market at close: Benchmark indices ended lower as they remained volatile throughout the day amid tension on LoC.
At close, the Sensex was down 68.28 points at 35905.43, while Nifty was down 28.60 points at 10806.70. About 1141 shares have advanced, 1359 shares declined, and 170 shares are unchanged.
Bajaj Auto, Sun Pharma, Bharti Airtel, L&T, TCS, UltraTech Cement and UPL were among top gainers on the indices, while losers were Tata Motors, Vedanta, Kotak Mahindra Bank, HUL, NTPC, Bharti Infratel, Wipro and Titan Company.
Among sectors, selling was seen in the IT, metal, FMCG and bank space, while buying seen in the auto, infra and pharma space.
Rain Industries Q3 result: Company reported Q3 net loss at Rs 139.1 crore against profit of Rs 307.2 crore. Revenue was up 9.5% at Rs 3,444 crore versus Rs 3,146 crore, YoY.
Brigade Enterprises signs MoU: The company has signed aa MoU with Technopark, government of Kerala for developing World Trade Center, Thiruvanthapuram.
HG Infra bags order: Company has bagged an EPC order worth Rs 189.49 crore from Megawide Construction DMCC for Flexible & Rigid Pavement (Runway, Taxiway & Apron) at Greenfield International Airport at MOPA, GOA.
IAF Jet Damage
There are no reports of any Indian Air Force (IAF) jet suffering damage in action by India's adversaries, PTI said quoting defence sources.
They added that they were verifying reports that an F16 Pakistani jet had crashed in Lam Valley across the Line of Control.
Earlier in the day, Pakistan claimed it shot down two Indian military aircraft over Pakistani air space and arrested at least one of the pilots.
Military spokesperson Major General Asif Ghafoor claimed in a tweet that one of the aircraft crashed in Pakistan occupied Kashmir while the other fell in Jammu and Kashmir.
Fund Infusion Into PSBs Not Sufficient To Support Lending Growth:
Fitch Ratings said government's $7 billion (around Rs 48,000 crore) fund infusion into public sector banks (PSBs) would not be sufficient to support significantly stronger lending growth.
Fitch estimates that banks will need an additional $23 billion (around Rs 1.6 lakh crore) in 2019, after these latest injections, to sufficiently meet minimum capital standards.
Stating that the Indian authorities' approach to the banking sector has clearly shifted towards spurring lending in recent months, Fitch said these steps, along with capital injections, have eased but not removed capital constraints on state banks' growth. Source: PTI
Dhanlaxmi Bank to BSE: Reserve Bank of India has decided to take Dhanlaxmi Bank Limited out of the Prompt Corrective Action (PCA) Framework, subject to certain conditions and continuous monitoring, as the Bank is found to be not breaching any of the Risk Thresholds of the PCA Framework. The stock has surged 10% intraday and has hit the upper circuit.
RBI lifts restrictions from banks: Shares of Allahabad Bank, Corporation Bank and Dhanlaxmi Bank rose 4-10 percent in the early trade on Wednesday after RBI lifted restrictions imposed on the banks under RBI PCA framework.
GMR bags airport project: Share price of GMR Infrastructure rose 2 percent in the early trade on Wednesday after company emerged highest bidder for airport in Andhra Pradesh.
GMR Airports (GAL), a subsidiary of GMR Infrastructure, has emerged as the highest bidder for the development, operations and management of greenfield international airport at Bhogapuram, Andhra Pradesh (AP) on a PPP basis.
Market Opens: Benchmark indices opened on higher note on Wednesday with Nifty hovering around 10,900 level.
The Sensex is up 216.17 points at 36189.88, while Nifty is up 52.20 points at 10887.50. About 510 shares have advanced, 98 shares declined, and 21 shares are unchanged.
Yes Bank, Adani Ports, UltraTech, HPCL, ICICI Bank, RIL, JSW Steel are among major gainers, while Wipro, HCL Tech, TCS, Tech Mahindra are trading lower.
Among the sectors, except IT, all other indices are trading in green. Midcap and smallcap also trading with 0.5 percent gain.
Market at pre-open: Benchmark indices are trading mixed in the pre-opening session with Nifty above 10,800 level.
The Sensex is up 95.46 points at 36069.17, while Nifty is down 14.90 points at 10820.40.
Major gainers includes IOB, Time Technoplast, Bharti Airtel, Tata Steel, Yes Bank, while losers are MGL, RIL, Allahabad Bank in the pre-opening.
Crude Update: Oil prices rose on Wednesday after a report of declining crude inventories in the country and as producer club OPEC seemed to stick to its supply cuts despite pressure from US President Donald Trump.
Market Headstart: Nifty likely to open higher; 3 stocks which could give 8-9% return
Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 42 points or 0.39 percent. Nifty futures were trading around 10,865-level on the Singaporean Exchange.
Asian shares trade firm: Asian shares edged higher on Wednesday and the dollar fell to a three-week low after Federal Reserve Chairman Jerome Powell reinforced the US central bank's recent shift towards a more "patient" approach on policy in the face of a slowing economy.
Wall Street ends lower: Wall Street's three major indexes fell slightly after a choppy session on Tuesday as investors eyed mixed U.S. economic data and corporate news and waited for clarity on issues such as the U.S.-China trade talks.
SGX Nifty: Trends on SGX Nifty indicate a positive opening for the broader index in India, a gain of 37 points or 0.34 percent. Nifty futures were trading around 10,860-level on the Singaporean Exchange.