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Closing Bell: Market closes largely flat with positive bias; TCS gains after board approves share buyback approval

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Closing Bell: Market closes largely flat with positive bias; TCS gains after board approves share buyback approval
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  • Market closes flat with a positive bias, Nifty reclaims 10,800.

    The market closed largely flat, with a positive bias, after recovering in the last trading hour with the BSE Sensex closing at 35,622 points and the NSE Nifty closing at 10,817 points. TCS gained more than 3% in trade after the board approved the buyback proposal of shares worth up to Rs 16,000 crore. The stock, along with Infosys, lifted the Nifty by 31 points towards the close. Pharma stocks surged in trade for the fifth day in a row. Idea Cellular, Hindalco, Yes Bank, SBI and UltraTech dragged the Nifty. 

  • The market is trading flat with a positive bias towards the close.

  • Here's the latest on ICICI Bank probe against Chanda Kochhar.

    Closing Bell: Market closes largely flat with positive bias; TCS gains after board approves share buyback approval
  • Market trades in the green towards the close, TCS lifts Nifty by 31 points.

    The market bounced back into the green with the BSE Sensex trading at 35,640 points and the NSE Nifty trading at 10,823 points towards the close. This is after the TCS board approved the share buyback proposal of up to Rs 16,000 crore. TCS is gaining more than three percent after the announcement. 

  • TCS surges after buyback approval. 

    Closing Bell: Market closes largely flat with positive bias; TCS gains after board approves share buyback approval
  • Just in: TCS Board approves share buyback of up to Rs 16,000 crore.

  • Just in: Fitch revises the outlook on Axis Bank to negative.

  • The market is now trading off lows, remains volatile in trade today.

  • The market remains in the red, the Nifty trades at 10,782 points. 

  • The state-run banks are extending losses in trade. 

  • Market trades lower, Nifty falls 10,800.


     

    The market is trading lower with the BSE Sensex trading at 35,458 points and the NSE Nifty trading at 10,772 points. The pharma stocks continue to rally for the fifth consecutive day and are the top index gainers along with UPL. Idea Cellular, Hindalco, Axis Bank, Yes Bank and ONGC are the top index losers. 

  • India's trade deficit widens to $14.62 billion in May.##India's trade deficit widens to $14.62 billion in May.

    India's merchandise exports in May rose 20.2 percent year-on-year, the trade ministry said on Friday, but the trade deficit widened to $14.62 billion driven mainly by a 50 percent surge in oil imports despite higher global prices.

    Merchandise exports last month rose to $28.86 billion from a year ago, while imports rose 14.85 percent on year to $43.48 billion, the Ministry of Commerce and Industry said in a statement.

  • The market has slipped to the day's low. 

  • The market is trading in the red, erasing gains. The Nifty falls below 10,800.

  • The rupee is trading at 67.94 against the US dollar. 

  • Here's a snapshot of India's May trade data.

    Closing Bell: Market closes largely flat with positive bias; TCS gains after board approves share buyback approval
  • Just in: India's exports rose 9.8% in FY18, highest growth rate in last 6 years.

  • Gold slips on stronger dollar; US-China trade war fears loom.##Gold slips on stronger dollar; US-China trade war fears loom.

    Gold prices slipped on Friday from a one-month high hit in the previous session as investors booked profits and the dollar strengthened, while worries over U.S.-China trade dispute capped losses.

    Spot gold fell 0.3 percent to $1,298.25 per ounce at 0704 GMT, after reaching its highest since May 15 at $1,309.30 an ounce on Thursday.

    US gold futures for August delivery were down 0.5 percent at $1,301.50 per ounce.

    The dollar index, which measures the greenback against a basket of six major currencies, rose 0.3 percent to 95.079. It hit its highest in over seven months earlier in the session

    (From Reuters)

  • Market edges lower, Nifty falls below 10,800.


     

    The market is edging lower in trade with the BSE Sensex trades at 35,507 points and the NSE Nifty trading at 10,782 points amid mixed global cues. The market has been trading largely flat since morning trade. The pharma stocks continue to rally for the fifth consecutive day.

  • ZTE's shares slide on trade war jitters, lost 30% of market value this week.##ZTE's shares slide on trade war jitters, lost 30% of market value this week.

    Shares of ZTE Corp plummeted on Friday on renewed worries of a trade war and the Chinese telecommunications giant has now lost 30 percent of its market value since share trading resumed this week.

    US President Donald Trump is due to unveil revisions to his initial tariff list targeting $50 billion of Chinese goods on Friday, reigniting concerns of a full-blown trade war.

    ZTE was crippled when the United States imposed a seven-year supplier ban on it in April after it broke an agreement to discipline executives who conspired to evade US sanctions on Iran and North Korea.

    The stock slid as much as 10 percent in both Hong Kong and Shenzhen, bringing its total market value loss to $5.8 billion since trade resumed on Wednesday in the wake of a deal with Washington.

    (From Reuters)

  • Here's what Nomura has to say on India's macroeconomic status. 

  • Market trades flat with a negative bias; pharma stocks continue to gain.


     

    The market is trading flat with a negative bias with the BSE Sensex trading at 35,542 points and the NSE Nifty trading at 10,795 points ahead of the expected outcome of the US administration announcement on imposing import tariffs for Chinese goods. The pharma stocks continue to gain in trade along with UPL while Idea Cellular, HPCO, NTPC, Yes Bank and IndusInd Bank are the top index losers. 

  • The market is trading off highs, the Nifty breached 10,800 levels. 

  • SBI to stop handling Iran oil payments, IOC said.##SBI to stop handling Iran oil payments, IOC said.

    India's oil imports from Iran will be hit from the end of August as the State Bank of India (SBI) has informed refiners it will not handle payments for crude from the Middle Eastern nation from November, the finance head of Indian Oil Corp said on Friday.

    Such a move from the Indian state-controlled bank would come after US President Donald Trump pulled out of an international nuclear deal with Iran on May 8 and said he would reimpose sanctions within 180 days.

    "(Oil) loading will be affected from end-August under the current mechanism unless a new payment route is established," IOC's AK Sharma told Reuters.

    Read the full story here

  • The market is steadily inching higher, trade largely flat. 

  • The rupee breached 68/$ for the first time since May 25.