Closing Bell: Nifty snaps 9 day losing streak, Sensex up 228 points; Bharti Airtel gains 6%

Sectoral Trend: All indices except Nifty IT ended the day in green##Sectoral Trend: All indices except Nifty IT ended the day in green

Top Nifty gainers and losers: Bharti Airtel, Indiabulls Housing top gainers##Top Nifty gainers and losers: Bharti Airtel, Indiabulls Housing top gainers

Closing Bell: Nifty ends higher, snapping 9 sessions of losses, Sensex up 228 points; Bharti Airtel gains 6%##Closing Bell: Nifty ends higher, snapping 9 sessions of losses, Sensex up 228 points; Bharti Airtel gains 6%

Indian Shares ended higher on Tuesday, snapping nine sessions of losses, led by gains in index heavyweights like Reliance Industries, ITC, ICICI Bank and HDFC. However, negative sentiment in the Asian peers capped the gains.  The Sensex settled 228 points higher at 37,318, while the Nifty50 added 74 points to end at 11,222. Among broader markets, Nifty Midcap and Nifty Smallcap were up 0.5 and 0.7 percent, respectively.  Bharti Airtel rose over 6 percent after CNBC-TV18 reported that the telecom operator has scrapped its postpaid plan of Rs 299 and made Rs 349/399 plans as minimum offers for postpaid. Indiabulls Housing Finance, Sun Pharma, Vedanta, and GAIL were the other top gainer on Nifty. Meanwhile, IT stocks like Tech Mahindra, Wipro, TCS, and HCL Tech were among the top losers on Nifty, down up to 3 percent. All sectoral indices, except Nifty IT, ended the day in green. Buying was seen in Nifty PSU Bank and Nifty Pharma indices, gaining 2.8 percent and 1.5 percent, respectively. Nifty FMCG and Nifty Bank also rose over half a percent each.

UCO Bank Q4: 14th consecutive session of losses##UCO Bank Q4: 14th consecutive session of losses

UCO Bank Q4 net loss at Rs 1,552 crore against loss of Rs 2,134 core; Net interest income up 60% at Rs 1,292 crore against Rs 808 crore (YoY)

Sources says NBCC's resolution plan for Jaypee Infra to be put to vote on May 16##Sources says NBCC's resolution plan for Jaypee Infra to be put to vote on May 16

Indian Bank reports a net loss in Q4, asset quality improves slightly##Indian Bank reports a net loss in Q4, asset quality improves slightly

11,085 is key level for Nifty, says Rohit Shrivastava of Sharekhan##11,085 is key level for Nifty, says Rohit Shrivastava of Sharekhan

The selloff has made people think about the big scenario all over again, said Rohit Shrivastava, fund manager PMS at Sharekhan. However, in the short term, it does look like an oversold condition in the market, he said. “Ahead of the elections season, most people were anticipating that you would get some kind of upside and if that is to happen, 11,085 is the key support level that I am watching. If it holds, then you get some kind of a rally into the election results,” he said in an interview with CNBC-TV18. READ MORE

Crisil downgrades DHFL commercial papers worth Rs 850 crore##Crisil downgrades DHFL commercial papers worth Rs 850 crore

Crisil Ratings has downgraded commercial paper worth Rs 850 crore of Dewan Housing Finance Corporation (DHFL) driven by weak liquidity condition of the company. DHFL's commercial papers were downgraded to A4+ from A3+. Its rating also continues to be on 'Rating Watch with Negative Implications'. The mortgage lender's liquidity dropped to Rs 2,775 crore as of end-April.

"The downgrade is driven by a more-than-expected reduction in the company's liquidity because of further delays in fundraising from sell down of project finance loans and lower inflows from securitisation of non-housing loans," the agency said in a note last week. READ MORE

Airtel scraps Rs 299 postpaid plan; makes Rs 349/399 plans minimum offers for postpaid##Airtel scraps Rs 299 postpaid plan; makes Rs 349/399 plans minimum offers for postpaid

India VIX climbs 21% in May on elections, global cues##India VIX climbs 21% in May on elections, global cues

Indian benchmark indices fell for the ninth straight session on Tuesday in a longest losing streak in eight years following a selloff in global markets amid trade war fears. The Volatility Index (VIX) climbed 21 percent in May so far as uncertainty around Lok Sabha election results, March-quarter earnings and oil prices weighed on the market. In last one year, the index has escalated by 90 percent to current levels. And in one whole month, it has gone up about 28 percent. READ MORE

Vodafone Idea shares fall 6% as CLSA cuts target price post Q4 numbers##Vodafone Idea shares fall 6% as CLSA cuts target price post Q4 numbers

Shares of Vodafone Idea tumbled nearly 6 percent in intra-day trade on Tuesday after global brokerage firm CLSA maintained a 'sell' rating on the stock and cut its target to Rs 12.50 from Rs 27 per share post it's Q4 earnings. The telecom operator's consolidated loss narrowed sequentially to Rs 4,881.9 crore in Q4 from Rs 5,004.6 crore in Q3, aided by a 3.4 percent drop in total expenses. Strategic initiatives to improve revenue and average realisation from subscribers helped financials, the company said in a statement. READ MORE

Market at day's high, Nifty back at 11,200, Sensex gains more than 150 points##Market at day's high, Nifty back at 11,200, Sensex gains more than 150 points

Public sector banks gain in trade##Public sector banks gain in trade

Passenger vehicle sales dip 17 percent in April, log steepest decline in nearly 8 years##Passenger vehicle sales dip 17 percent in April, log steepest decline in nearly 8 years

Passenger vehicle (PV) sales in India dropped by 17.07 percent in April, the steepest fall since October 2011, as weak customer sentiment led by liquidity crunch, uncertainty revolving elections and high product prices hit sales. The domestic sales declined for a sixth straight month in April to 2,47,541 units against 2,98,504 units in the year-ago month. It is the worst dip in PV sales since October 2011 when sales had dropped by 19.87 percent. READ MORE

Sebi issues show-cause notices to HDFC, Kotak mutual funds on Essel Group exposure##Sebi issues show-cause notices to HDFC, Kotak mutual funds on Essel Group exposure

Sebi has issued show-cause notices to HDFC and Kotak Mahindra mutual fund houses seeking details about their investments in the debt instruments of Essel Group companies. In the wake of Essel Group companies grappling with debt woes, many mutual funds have come under redemption pressure. In April, HDFC AMC and Kotak Mahindra AMC sought more time for payouts with respect to their Fixed Maturity Plans (FMPs).

Sources said Sebi, which regulates mutual funds, has served show-cause notices to the two asset management companies (AMCs) regarding their dealings in shares of Essel group companies. HDFC AMC on Monday said it has received two show-cause notices from Sebi and is in the process of responding to them. READ MORE