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Closing Bell: Sensex, Nifty end lower for third straight session dragged by financials, only 8 Nifty stocks end in the green

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Indian benchmark indices, the BSE Sensex and the NSE Nifty50, fell for yet another session on Friday amid rising geopolitical tensions and volatile crude oil prices. The Sensex trades above 39,500 zone, while the Nifty50 gave up 11,850. Among shares, Indiabulls Housing, Yes Bank, IndusInd Bank are the main drag on indexes along with oil marketing companies' stocks. This blog will keep you posted on the latest updates and developments from the stock markets today:

Closing Bell: Sensex, Nifty end lower for third straight session dragged by financials, only 8 Nifty stocks end in the green
  • Sensex slips 289 points today, down over 600 points from this week’s high of 40,066##Sensex slips 289 points today, down over 600 points from this week’s high of 40,066

  • Closing Bell: Sensex, Nifty fall sharply, financials, consumer, pharma drag indexes##Closing Bell: Sensex, Nifty fall sharply, financials, consumer, pharma drag indexes

    Indian shares fell sharply in the last hour of trade with the Nifty50 ending belwo the 11,850 level. The 30-share BSE Sensex was down 289.29 points at 39,452.07 at close, while the broader NSE Nifty50 was down 90.70 points at 11,823.30. IndusInd Bank, Zee Entertainment, Indiabulls Housing, Bharti Airtel and Axis Bank were the top losers on the Nifty, while gainers were Bharti Infratel, Sun Pharma, Power Grid, L&T and Vedanta. Barring BSE Capital Goods, all the sectoral indices ended lower led by FMCG, bank, auto, pharma, infra, metal, IT and energy.

  • Market fails to sustain recovery after sources say India will impose retaliatory tariffs on 29 US products##Market fails to sustain recovery after sources say India will impose retaliatory tariffs on 29 US products

  • HDFC confirms selling 4.2% stake in Gruh finance, stock depressed, Sensex, Nifty fall sharply##HDFC confirms selling 4.2% stake in Gruh finance, stock depressed, Sensex, Nifty fall sharply

    HDFC confirmed selling 3,10,00,000 equity shared representing 4.2% stake of the issue and paid up share capital of Gruh Finance. Shares quoted at Rs 2,185.75, down by 0.53 percent on NSE at 3.23 pm. Meanwhile, the NSE Nifty50 dropped over 100 points to trade at 11,813.35. The Sensex also declined by over 336 points, or 0.85 percent, to trade at 39,404.

  • Here's a quick round up of what has happened in the markets so far##Here's a quick round up of what has happened in the markets so far

    -Benchmark indices continue to trade under pressure, extending losses after a flat start on Friday. 

    -At 14.57 pm, the Sensex was lower by 143 points, or 0.36 percent, to trade at 39,596.71. The Nifty was lower by 45.65 points, or 0.38 percent, to trade at 11,868.40.

    -Midcap indexes on both NSE and BSE have also fallen in tandem with the Nifty MidCap and the BSE MidCap index fallen over half a percent.

    -As many as 36 sectors have fallen with Nifty Media declining the most by 2.41 percent. Pharma, Media and Healthcare counters among top losing sectors. Nifty PUS Banks leads the 7 advancing sectors.

    -ZEEL, IndusInd Bank, Bharti Airtel, Axis Bank and Bajaj Auto among top Nifty losers.

    -IndusInd Bank, Kotak Bank, Axis Bank and Bharti Airtel among top drag on the Sensex.

  • IndusInd Bank, Bharat Financial boards likely to meet next week to finalise merger, says Romesh Sobti##IndusInd Bank, Bharat Financial boards likely to meet next week to finalise merger, says Romesh Sobti

    The boards of IndusInd Bank and Bharat Financial Inclusion could meet next week, hopefully, to complete the formalities of the proposed merger, said Romesh Sobti, managing director and CEO of IndusInd Bank, adding that the June-quarter results will include consolidated financial statements of the two banks.

    “The liability profile is an important part of the synergy. They have 9-9.5 million customers, 115,000 villages, 1,800 branches and each one of these customers will have a savings bank account. So, over the next 2-3 years this will become an additional low cost source of raising liabilities,” added Sobti. READ MORE

  • Five reasons why BofAML expects RBI to cut rates by another 50 bps by March 2020##Five reasons why BofAML expects RBI to cut rates by another 50 bps by March 2020


    Bank of America Merrill Lynch (BofAML) is confident that the Reserve Bank of India will reduce lending rates by another 50 basis points by March 2020 as the investment bank expects the Indian economy to remain weak for the next couple of quarters. READ MORE

  • Jet Airways shares continue downward trend; tanks 15 percent##Jet Airways shares continue downward trend; tanks 15 percent


    Shares of Jet Airways further plunged nearly 15 percent on Friday after stock exchanges decided to impose restrictions on its stock trading from June 28 earlier this week. The scrip tumbled 13.37 percent to Rs 79.65 - its multi-year low - on the BSE. On NSE, the shares tanked 14.96 percent to a multi-year low of Rs 78.15. Shares of Jet Airways had on Thursday also cracked nearly 18 percent. Stock exchanges will impose restrictions on trading in Jet Airways shares from June 28 as part of preventive surveillance measures to curb excessive volatility, according to a circular. The cash-starved company suspended operations in April and lenders are working on ways for revival of the airline.

  • Manpasand Beverages falls for 14th day##Manpasand Beverages falls for 14th day

    Shares of Manpasand Beverages were locked in a 5 percent lower circuit and hit a fresh lifetime low of Rs 32.60 as investors continued to sell shares following corporate governance issues at the company. The stock fell for the 14th session in a row today after reports of irregularities at the firm and arrest of top management officials. So far this year, the stock has lost 63 percent of its value.

  • Here's a quick round up of what has happened in the markets so far##Here's a quick round up of what has happened in the markets so far

    -Benchmark indices continue to trade under pressure, extending losses after a flat start on Friday. 

    -At 1.47 pm, the Sensex was lower by 174 points, or 0.44 percent, to trade at 39,567. The Nifty was lower by 58 points, or 0.49 percent, to trade at 11,855.

    -Midcap indexes on both NSE and BSE have also fallen in tandem with the Nifty MidCap and the BSE MidCap index fallen over half a percent.

    -As many as 31 sectors have fallen with Nifty Media declining the most by 2.4 percent. Pharma, Media and Healthcare counters among top losing sectors. Nifty PUS Banks leads the 12 advancing sectors.

    -ZEEL, IndusInd Bank, Bharti Airtel, Indiabulls Housing Finance and Kotak Bank among top Nifty losers.

    -Reliance Industries, IndusInd Bank, Kotak Bank and Axis Bank among top drag on the Sensex.

  • This stock, which gave 5700% returns in 9 years, has fallen 60% in last 15 months. Here's why
    Venky's (India), which gave massive returns in 9 years until April 2018 (from 2009), has fallen 60 percent in the last 15 months - from April 2018 to June 2019.
    Closing Bell: Sensex, Nifty end lower for third straight session dragged by financials, only 8 Nifty stocks end in the green
  • Adani Green Energy trades lower, promoter sells 6% stake##Adani Green Energy trades lower, promoter sells 6% stake


    Adani Green Energy ltd shares trade under pressure, quoting at Rs 43.10, down by 0.69 percent on NSE at 1 pm. Adani Green promoter sells 5.98 percent stake via offer for sale to meet minimum public shareholding norm. Promoter stake now stands at 74.92 percent. 

  • Wholesale inflation slips to 2.45 percent in May##Wholesale inflation slips to 2.45 percent in May

    India's wholesale inflation, as measured by the Wholesale Price Index (WPI), slipped to 2.45 percent in May, as against 3.07 percent in April, the lowest level since July 2017, data published by the Ministry of Commerce and Industry showed on Friday. May WPI was expected to slide to 3.06 percent from 3.07 percent in March, as per a CNBC-TV18's poll. The wholesale inflation is expected to be in the range of 2.96 percent to 3.18 percent. READ MORE

  • Intellect Design up 5% as company sells arm for Rs 20.5 crore##Intellect Design up 5% as company sells arm for Rs 20.5 crore


    Shares of Intellect Design Arena surged nearly 5 percent to a seven-month high of Rs 278 after the company sold its subsidiary SFL Properties for Rs 20.5 crore. Shares of the company were up almost 3 percent at Rs 272.80 at 12.37 pm on NSE.

  • Krish Subramanyam of Altamount Capital recommends to buy Larsen & Toubro##Krish Subramanyam of Altamount Capital recommends to buy Larsen & Toubro

    Krish Subramanyam F&O stock recommendations are, “Put option in Larsen & Toubro (L&T), the stock has been seeing selling pressure on that higher levels so one could possibly see a buy of 1520 Put that is quoting at around Rs 15-16 keeping a target of Rs 27 and stop loss of Rs 8. A Covered Call on Tata Steel the metals have been a strong feature and even in a market which is sliding they seen to be holding on. Buy the futures and sell 510 Call that is quoting at around keeping a very bonus target of Rs 518 and stop loss of Rs 495.” READ MORE

  • Bharat Dynamics marginally up as defence PSU signs Rs 1187 crore contract with Indian Navy
    Bharat Dynamics shares traded marginally higher on Friday, a day after the public sector defence company signed a contract worth nearly Rs 1188 crore for supply of heavy weight torpedoes to the Indian Navy.
    Closing Bell: Sensex, Nifty end lower for third straight session dragged by financials, only 8 Nifty stocks end in the green
  • Dr Reddys Labs slips 2% on agreement to sell neurology branded products##Dr Reddys Labs slips 2% on agreement to sell neurology branded products


    Dr Reddy's Laboratories shares fell 1.7 percent intraday on June 14 despite company entered into a definitive agreement to sell its neurology branded products. "We have entered into a definitive asset purchase agreement with Upsher-Smith Laboratories, LLC (Upsher-Smith), pursuant to which we would sell US and select territory rights for Zembrace Symtouch (sumatriptan injection) 3 mg and Tosymra (sumatriptan nasal spray) 10 mg," the drug maker said in its filing. The company will commercialise these products through its wholly owned subsidiary, Promius Pharma, LLC, it added. Shares quoted at Rs 2,537.65, down by 2 percent on NSE at 11.32 am. 

  • Kumar Mangalam Birla: Believe we can do a lot more on ease of doing business##Kumar Mangalam Birla: Believe we can do a lot more on ease of doing business

  • Here's a quick round up of what has happened in the markets so far##Here's a quick round up of what has happened in the markets so far

    -Benchmark indices extended losses after opening flat on Friday with the NSE frontline index falling below 11,900. 

    -At 11.16 am, the Sensex fell 176 points, or 0.44 percent, to trade at 39,565. The Nifty was lower by 60 points, or 0.51 percent, to trade at 11,853.

    -Midcap indexes on both NSE and BSE have also fallen in tandem with the Nifty MidCap and the BSE MidCap index fallen over half a percent.

    -As many as 28 sectors have fallen with BSE Realty declining the most by 2 percent. Pharma, Media and Healthcare counters among top losing sectors. BSE Capital Goods leads the 15 advancing sectors.

    -Indiabulls Housing, ZEEL, Yes Bank, Dr Reddy's and IndusInd Bank among top Nifty losers.

    -Reliance Industries, IndusInd Bank, Kotak Bank, HDFC among top drag on the Sensex.

  • RITES at 3-month high as PSU mulls bonus share issue on June 24##RITES at 3-month high as PSU mulls bonus share issue on June 24


    Shares of RITES rose 7.4 percent in early trade to hit a three-month high of Rs 296.50, as the company's board will consider a bonus share issue on Jun 24. The PSU is issuing bonus shares for the first time since its listing in July 2018. RITES shares were up nearly 6 percent at Rs 291.95 at 10.47 on NSE.

  • Gruh Finance shares dive 7% after block deals; HDFC likely seller##Gruh Finance shares dive 7% after block deals; HDFC likely seller


    Shares of Gruh Finance fell nearly 7 percent on Friday following multiple block deals on stock exchanges. According to NSE data, over 3.24 crore Gurh Finance shares, representing a 4.42 percent stake, were exchanged in multiple block deals earlier today for a total value of about Rs 940 crore. READ MORE

  • Housing crisis: Over 150 builders facing legal action##Housing crisis: Over 150 builders facing legal action

    The real estate sector in the country is currently going through a tough phase. The number of stuck housing projects has gone up since April  2019 and hundreds of developers are behind bars or are out on bail for not delivering homes on time, according to a recent report released by Propequity. Sources from Nasscom and Credai have also confirmed to CNBC-TV18 that the number of builders facing legal action has crossed 150 across India. READ MORE

  • Sebi tightens disclosure norms for credit rating agencies##Sebi tightens disclosure norms for credit rating agencies


    Markets watchdog Sebi on Thursday came out with a strict disclosure framework for credit rating agencies wherein they will be required to provide the probability of default for various rated instruments. READ MORE

  • Market update: Sensex, Nifty edge lower as Banks, financials, auto and realty shares drag##Market update: Sensex, Nifty edge lower as Banks, financials, auto and realty shares drag

    The BSE Sensex edged 131 points lower, or 0.33 percent, to trade at 39,610 at 9.59 am. The Nifty50 slipped 56 points, or 0.46 percent, to trade at 11,859. Broader market indices fared comparatively better with the Nifty MidCap down 0.08 percent. The BSE MidCap dipped 0.20 percent. As many as 33 sectors declined while BSE Metal was leading among 10 advancing sectors. Among gainers, Vedanta, Bharti Infratel, L&T, Wipro, Power Grid, ONGC and Tata Steel, rose by up to 2 percent. Indiabulls Housing, Yes Bank, ZEEL, Dr Reddy's Labs, IndusInd Bank, Bajaj Auto, Kotak Mahindra and Sun Pharma fell by up to 3 percent.

  • Power Grid, Yes Bank among top index gainers this morning##Power Grid, Yes Bank among top index gainers this morning

  • Indiabulls Housing Finance dips over 2% and other index losers this morning##Indiabulls Housing Finance dips over 2% and other index losers this morning

  • Opening Bell: Sensex, Nifty start flat, Yes Bank top gainer##Opening Bell: Sensex, Nifty start flat, Yes Bank top gainer


    Indian shares opened little changed on Friday with major indices largely trading flat. The 30-share benchmark S&P BSE Sensex started 32.56 points higher, or by 0.08 percent up, at 39,774 in initial tick. The broader 50-share NSE Nifty50 slipped by 12 points, or 0.10 percent, to trade at 11902.20. Broader market indices were also flat with the Nifty MidCap down by just 0.12 percent. Banking gauge Nifty Bank was in the red. Among top Nifty gainers, Power Grid, Yes Bank, GAIL, UPL and Maruti surged by up to 1.2 percent. Downstream oil marketing companies slipped over a percent. IOC, IndusInd bank, BPCL, Dr Reddy, and Grasim fell by up to 1.09 percent.

  • Indian rupee opened unchanged at 69.51 against the US dollar on Friday##Indian rupee opened unchanged at 69.51 against the US dollar on Friday

  • Will strong Q4 numbers help revive sugar industries' fortunes##Will strong Q4 numbers help revive sugar industries' fortunes

    Following the government’s initiatives over the last year to revive the sugar industry in the country, sugar companies have reported a strong fourth quarter numbers, an indication that the Centre’s measures are bearing fruits.Almost all sugar companies reported strong Q4FY19 numbers backed by sugar business and additional revenues coming from their distillery and ethanol businesses. READ MORE

  • Hexaware Technologies buys U.S.-based Mobiquity for $182 million##Hexaware Technologies buys U.S.-based Mobiquity for $182 million

    Indian IT services company Hexaware Technologies Ltd said on Friday it bought privately owned Mobiquity Inc for $182 million, to expand its cloud and automation service offerings. The deal will help Mumbai-based Hexaware gain traction in its banking and pharmaceutical verticals, through Mobiquity's digital products. ​Hexaware will pay $131 million upfront to Mobiquity and a deferred consideration of $51 million will be paid based on earnouts, the company said. US-based Mobiquity makes products for partners including Amazon's AWS and Netherlands-headquartered software company Bankbase.