Closing Bell: Sensex ends marginally lower, Nifty below 11,600 as banks, auto stocks drag

Sectoral Trend: Nifty Auto was the worst performing index, while Nifty Pharma gained the most##Sectoral Trend: Nifty Auto was the worst performing index, while Nifty Pharma gained the most

Top Nifty gainers and loser: Maruti Suzuki, Yes Bank were top losers##Top Nifty gainers and loser: Maruti Suzuki, Yes Bank were top losers

Closing Bell: Sensex ends marginally lower, Nifty below 11,600 as banks, auto stocks drag##Closing Bell: Sensex ends marginally lower, Nifty below 11,600 as banks, auto stocks drag

Indian shares erased gains to end lower on Tuesday, dragged by banking and auto stocks as investors awaited cues from corporate results. Muted trades in Asian markets and rising crude oil prices also capped gains. Investors also remained cautious ahead of the expiry of derivative contracts this week.  The BSE Sensex settled at 38,565, down 80 points, while the broader NSE Nifty50 ended at 11,576, slipping 18 points. Nifty Midcap was flat while Nifty Smallcap fell 0.6 percent. ONGC, Zee, Sun Pharma, Coal India and Bajaj Finance were the top gainers on the Nifty, while, Maruti Suzuki, Yes Bank, Tata Steel, IndusInd Bank, and HeroMoto Corp fell the most on the index.  Sectoral indices traded mixed during the day. The Nifty Auto fell the most, down 1.5 percent. Meanwhile, the banking indices also pared morning gains to settle the day in red. Nifty Bank and Nifty Private Bank fell 0.7 percent each. 

Maruti Suzuki sees a sharp fall in trade; slips nearly 4%##Maruti Suzuki sees a sharp fall in trade; slips nearly 4%

Bitcoin jumps to a six-month high as 2019 rally grows##Bitcoin jumps to a six-month high as 2019 rally grows

Bitcoin jumped on Tuesday to its highest in six months, pulling smaller cryptocurrencies up with it in a move that traders and analysts ascribed to technical forces with no apparent news catalysts at play. The original and biggest virtual coin climbed as much as 4.5 percent in early trading to top $5,600 briefly, touching its highest since November 18. Other major cryptocurrencies that tend be correlated to bitcoin such as ethereum and Ripple's XRP also gained. 

Mirae Asset Focused Fund: All you need to know##Mirae Asset Focused Fund: All you need to know

Mirae Asset Mutual Fund has launched its first open-ended equity-focused fund, Mirae Asset Focused Fund, which will be investing in a maximum of 30 stocks. The fund will have the leverage of investing in smallcap, multicap and largecap stocks and across sectors.

The aim of the fund is to generate long term capital appreciation or income by investing in equity and equity-related instruments of up to 30 companies. The company has not assured that the investment objective of the scheme will be realised. READ MORE

NSE to exclude 34 stocks from F&O trading: Here's what experts have to say##NSE to exclude 34 stocks from F&O trading: Here's what experts have to say

34 stocks will be out of the Futures & Options (F&O) market post the June series expiry. Rajesh Baheti, MD of Crosseas Capital Services, spoke to CNBC-TV18 about the exclusion. Baheti said that there was some report by Sebi that said that the F&O segment is getting too big and there was a need to control it.

“I do not know why that should be an issue because if we are going to moral police, the investing public saying this is what you should be doing and this is what you ought not to be doing then Sebi can make a model portfolio and tell everybody to invest in it,” Baheti said on Tuesday. READ MORE

Investors need to be cautious from a near-term perspective, says UTI MF##Investors need to be cautious from a near-term perspective, says UTI MF

In the last six months, the market has risen more than 12 percent and with the event of election outcome still looming, one needs to be cautious in the near-term, said Sanjay Dongre, executive vice president and senior fund manager-equity, UTI Mutual Funds.

"However, the election outcomes do not matter as far as the long term return generation potential of the market is concerned. As always the market is a slave to earnings, which will deliver market returns," Dongre said. READ MORE

ACC faring slightly higher ahead of results##ACC faring slightly higher ahead of results

Thomas Cook plc stock up 20% on London Stock Exchange on reports of buyout##Thomas Cook plc stock up 20% on London Stock Exchange on reports of buyout

Broader global trends to determine market direction, says Tata Mutual Fund##Broader global trends to determine market direction, says Tata Mutual Fund

The market trajectory is dependent on ongoing global trends such as emerging market flows and where India stacks up in terms of relative valuations to other EMs, according to Rahul Singh, CIO-Equities, Tata Mutual Fund. 

“So instead of getting bogged down by our earnings, and elections, the broader trends globally are what are determining the market moves and we saw that in January to March period where January to February, we did not participate and March we participated wholeheartedly because some of the risks relating elections went away and that led to our participation with emerging markets rally,” he said, in an interview with CNBC-TV18. Therefore one should put the whole rally in that perspective and look at it in that sense, he added. READ MORE

Jet Airways shares surge 13%, snapping 3-day losing streak##Jet Airways shares surge 13%, snapping 3-day losing streak

Jet Airways jumped 13 percent on Tuesday recovering from its downfall witnessed in last three consecutive trading sessions. It has fallen nearly 35 percent since last week. The stock price is currently trading to its March 2009 level. Yesterday, the stock fell more than 23 percent to their lowest since March 2009 as uncertainties over the future dogged the airline after it suspended all operations temporarily last week.

Jet Airways CEO Vinay Dube on Saturday met finance minister Arun Jaitley and said the minister had assured to look into the issues that forced the cash-strapped airline to halt operations temporarily. READ MORE

Zee Entertainment jumps 6%; Macquarie says it expects 36% upside amid stake sale buzz##Zee Entertainment jumps 6%; Macquarie says it expects 36% upside amid stake sale buzz

Zee Entertainment gained over 6 percent on Tuesday after global brokerage firm Macquarie said it expects a 36 percent upside in the stock amid stake sale buzz. The brokerage maintained an 'outperform' call on the stock with the target price of Rs 540 apiece. The stock hit an intraday high of Rs 420, up 6.2 percent from its previous close.

According to the brokerage, the announcement on the stake sale promoters is imminent and the stake sale deal is likely in the next 1-2 weeks. READ MORE