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

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Indian shares erased gains to end marginally lower on Tuesday, dragged by banking and auto stocks, as investors awaited cues from corporate results, ahead of April F&O expiry.

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

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

  • India's monetary policy cycle: How close are we to the terminal repo rate?
    While the rate cut in August will be highly dependent on the realised outcomes of food and fuel, we also concede that the window of a rate cut is narrowingGet latest Finance online at cnbctv18.com
    Closing Bell: Sensex ends marginally lower, Nifty below 11,600 as banks, auto stocks drag
  • 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

  • Bombay HC adjourns Kotak Mahindra Bank vs RBI case to January 9, 2020 citing paucity of time
    The Bombay High Court on Monday adjourned hearing in the Kotak Mahindra Bank versus Reserve Bank of India (RBI) case to January 9, 2020, citing
    Closing Bell: Sensex ends marginally lower, Nifty below 11,600 as banks, auto stocks drag
  • 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

  • Tejas Networks gains 11% on posting strong quarterly earnings##Tejas Networks gains 11% on posting strong quarterly earnings

    Tejas Networks rallied about 11 percent on Tuesday after the domestic telecom gear maker posted 9.2 percent increase in consolidated net profit for January-March 2019 quarter at Rs 35.89 crore on account of sales growth in international business and to local private sector players. The company's total income for the quarter ended March jumped to Rs 280 crore from Rs 112.19 crore in the corresponding quarter of the previous fiscal. READ MORE

  • DHFL spikes in trade##DHFL spikes in trade

  • India to get extra oil from major producers to make up for Iran oil loss, says Dharmendra Pradhan##India to get extra oil from major producers to make up for Iran oil loss, says Dharmendra Pradhan


    India will get additional supplies from other major oil producing countries to compensate for the loss of Iranian oil, Petroleum and Natural Gas Minister Dharmendra Pradhan tweeted on Tuesday. Pradhan said India has put in place a robust plan for an adequate supply of crude oil to refineries. "Indian refineries are fully prepared to meet the national demand for petrol, diesel and other petroleum products," he said.

  • Not in hurry to sell remaining stake in Essel Propack following Blackstone deal, says MD Goel##Not in hurry to sell remaining stake in Essel Propack following Blackstone deal, says MD Goel

    Blackstone, one of the world’s leading investment firms, is buying 51 percent from promoters of Essel Propack Limited (EPL) for Rs 1,142 crore. Ashok Goel, VC & MD of Essel Propack, spoke to CNBC-TV18 about the deal. According to Goel, the deal would take 2-4 months before it gets consummated. He also said that he was in no hurry to sell the remaining stake following the deal. Goel will retain 6 percent stake in the company and will get Rs 16 crore per year for five years as advisor of the company. READ MORE

  • ACC Q1 results today: Key things to watch out for

    Cement maker ACC will be reporting its March-quarter results after the bell on Tuesday and analysts are expecting strong earnings this time around.Get latest Infrastructure online at cnbctv18.com
    Closing Bell: Sensex ends marginally lower, Nifty below 11,600 as banks, auto stocks drag
  • LIC New Jeevan Nidhi (818) Review: Should you invest in this pension plan?##LIC New Jeevan Nidhi (818) Review: Should you invest in this pension plan?


    LIC New Jeevan Nidhi: Key points

    Two premium payment options: Single Premium and Regular Premium

    As the name suggests, under single premium variant, you need to pay a premium just once. Under regular premium variant, you need to pay the premium every year during the policy term.

    LIC New Jeevan Nidhi (Plan 818): Tax Benefits

    You get tax benefit up to Rs. 1.5 lakh on investment under Section 80CCC of the Income Tax Act. The benefit under Section 80CCC comes under the overall tax benefit limit of Rs 1.5 lakh under Section 80C.

    Lumpsum withdrawal is exempt from tax at the time of maturity. Since you can’t take out more than 1/3rdas lumpsum under IRDA rules, you can say that lumpsum withdrawal up to 1/3rd of the accumulated corpus is exempt from tax.

    Click here to read more

  • Reserve Bank may tweak February 12 circular norm to 30-day grace, says report##Reserve Bank may tweak February 12 circular norm to 30-day grace, says report


    As part of the revision in February 12 circular, the Reserve Bank of India (RBI) is likely to replace the one-day default norm with a 30-days grace period to identify the early stress of borrowers, reported Business Standard.


    February 12 circular which was struck down and termed ultra vires by the Supreme Court mentioned that even a single day default on the payment of the principal or the interest, or any other amount, wholly or partly, would lead the banks to classify the account as a special mention account (SMA). READ MORE

  • Lok Sabha Elections 2019 LIVE: Weapon of terrorism is IED, the strength of democracy is voter ID, says PM Modi after casting his vote in Ahmedabad

    Lok Sabha Elections 2019 Live Updates: The stage is set for polling in the third phase of Lok Sabha elections. As many as 117 constituencies, spread over 13 States and two Union Territories, are going to polls today.
    Closing Bell: Sensex ends marginally lower, Nifty below 11,600 as banks, auto stocks drag
  • Indian junk bonds make a comeback, issuance soars##Indian junk bonds make a comeback, issuance soars


    Sales of Indian junk bonds have made a big comeback in 2019, almost tripling to hit a five-year high, boosted by a risk-on rally prompted by a dovish US Federal Reserve that has given the Asia market a record start to the year. Indian companies have sold $3.7 billion in high-yield, or junk-rated, bonds so far this year, an increase of 187 percent from 2018, Refinitiv data show. The last time Indian companies sold more junk bonds was in 2014, when total volumes for the year were $4.1 billion, the data showed. READ MORE

  • Top stock recommendations by Ashwani Gujral, Sudarshan Sukhani, Mitessh Thakkar for Tuesday##Top stock recommendations by Ashwani Gujral, Sudarshan Sukhani, Mitessh Thakkar for Tuesday


    Ashwani Gujral

    - Buy Tata Consultancy Services with a stop loss of Rs 2,050, target at Rs 2,150

    - Buy Kotak Mahindra Bank with a stop loss of Rs 1,345, target at Rs 1,550

    Sudarshan Sukhani

    - Sell M&M Financial Services with a stop loss of Rs 416, target at Rs 406

    - Sell Reliance Capital with a stop loss of Rs 136, target at Rs 128

    Mitessh Thakkar

    - Buy Hindustan Unilever with a stop loss of Rs 1,717, target at Rs 1,770

    - Sell Apollo Tyres with a stop loss of Rs 213.5, target at Rs 200

    Click here for more

  • Buying returns in Jet Airways after yesterday's sharp uptick##Buying returns in Jet Airways after yesterday's sharp uptick

  • Top Nifty gainers and losers this morning##Top Nifty gainers and losers this morning

    Closing Bell: Sensex ends marginally lower, Nifty below 11,600 as banks, auto stocks drag
  • Opening Bell: Sensex opens higher, Nifty above 11,600 ahead of F&O expiry##Opening Bell: Sensex opens higher, Nifty above 11,600 ahead of F&O expiry

    Indian benchmark indices opened on a higher note on Tuesday on higher rupee despite rising crude oil prices. The investors, however, remained cautious amid third phase polling and Q4 results, ahead of F&O expiry.  At 9:20 am, the BSE Sensex was trading at 38,813, up 168 points, while the broader NSE Nifty50 was ruling at 11,635, adding 41 points. Broader markets underperformed benchmark indices, with Nifty Midcap and Nifty Smallcap up 0.1 percent each. Zee, Bharti AIrtel, Bharti Infratel, HDFC Bank, and ICICI Bank were the top gainers on the Nifty, while, GAIL, BPCL, Indiabulls Housing Finance, IOC and PowerGrid fell the most on the index.  All sectoral indices were trading in the green. The Nifty Realty and Nifty Pharma were top performers among sectoral indices. 

  • Rupee opens slightly higher against Monday's close##Rupee opens slightly higher against Monday's close

  • 10 things you need to know before the opening bell on April 23##10 things you need to know before the opening bell on April 23


    FIIs & DIIs: Foreign institutional investors (FIIs) bought shares worth Rs 73 crore on a net basis, while domestic institutional investors (DIIs) sold shares worth Rs 68 crore on April 22.


    US-Iran Sanctions: The Trump administration on Monday said it will not renew exemptions granted last year to buyers of Iranian oil, a more stringent than the expected decision that caught several key importers who have been pleading with Washington to continue buying Iranian oil sanctions-free. 

    Phase 3 Lok Sabha Elections: People in 15 states will vote on Tuesday in the third phase of Lok Sabha elections scheduled for Tuesday which will see a maximum of 117 seats going to the polls in a single phase of the seven-phased election. 

    Click here for more

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