Closing Bell: Sensex ends marginally higher, Nifty flat; IOC, Coal India, Wipro drags##Closing Bell: Sensex ends marginally higher, Nifty flat; IOC, Coal India, Wipro drags
Sensex ended marginally higher on Thursday while Nifty50 settled flat but held 11,050-levels amid mixed global cues. Asian shares were sluggish as investors showed caution over the outlook for global growth as they awaited the outcome of US-China trade negotiations.
The S&P BSE Sensex settled at 36,725, up 89 points, while the broader NSE Nifty50 ended at 11,058, up 5 points. Meanwhile, broader markets underperformed frontline indices with the Nifty MidCap and Nifty Smallcap falling 0.3 percent each.
L&T, Axis Bank, M&M, SBI and ITC were the top performers on Nifty, however, Coal India, IOC, Wipro, Zee ans Sun Pharma fell by up to 3.4 percent. Among sectors, Nifty Pharma, Nifty Metal and Nifty IT fell in trade while Nifty Bank, Nifty PSU Bank, Nifty Fin service and Nifty FMCG held the gains.
Domino Effect: 5 ways the troubles of Jet Airways will impact Indian aviation##Domino Effect: 5 ways the troubles of Jet Airways will impact Indian aviation
India’s second largest airline, Jet Airways, continues to grapple with financial challenges. The airline has had to ground several aircraft due to non-payment of lease rentals, forward bookings have declined and the regulator is reviewing its flight schedule every 15 days. The approvals for debt restructuring are delayed, the working capital situation is challenging and the equity infusion is yet to materialize. Multiple negative news reports are only adding to the airlines woes. Regardless of the outcome, these challenges carry a systemic impact for Indian aviation as a whole. Click here to find out what are these?
Timeline: DHFL's recent woes##Timeline: DHFL's recent woes
Indian home loan provider Dewan Housing Finance Corp Ltd (DHFL) has been beset by problems for over five months now amid wider sectoral worries, which were further exacerbated by a media report alleging financial mismanagement.
A string of defaults at Infrastructure Leasing and Financial Services Ltd triggered widespread selling in the non-banking finance sector in September.
Will bulls march on Dalal Street this March? Historical data suggests it's likely##Will bulls march on Dalal Street this March? Historical data suggests it's likely
March started on a bullish note and if the momentum continues it is possible for the Sensex to hit 37,000 and for Nifty to go up to 11,100-11,200.
Historical data suggests that in six out of the last 10 years during the month of March, benchmark indices closed in the green. Sensex witnessed strong gains in March 2009 when it recorded an upswing of 12 percent followed by over 6 percent rise in 2014 and 2016.
Meanwhile, Nifty recorded maximum gains for the month in 2016 when it rose 10 percent, followed by 9.3 percent gain in 2011, and 6 percent rise in 2010.
Cabinet allocates Rs 2,790 crore to support sugar, ethanol production##Cabinet allocates Rs 2,790 crore to support sugar, ethanol production
The Cabinet approves the provision of additional funds for sugar mills and allocates additional funds of Rs 2,790 crore to augment ethanol production.
The news brings in negative sentiment for the sugar industry as the expectations were to receive soft loans of Rs 15,000 crore with a subsidy of Rs 3,355 crore on loans to sugar mills. READ MORE
For the next two quarters, GDP growth will be around 6-6.5%: DBS Bank##For the next two quarters, GDP growth will be around 6-6.5%: DBS Bank
Radhika Rao, an economist at DBS Bank, spoke to CNBC-TV18 about her expectations from the RBI policy, inflation and the bond markets.
With regards to the GDP growth, Rao said, "The December quarter numbers were largely in line with estimates but the growth engines are running at different speed. For the next two quarters, the GDP growth would be around 6-6.5 percent".
FIIs flock to Indian stocks with $2.37 billion inflows in Feb##FIIs flock to Indian stocks with $2.37 billion inflows in Feb
After months of aggressive selling, foreign institutional investors (FIIs) have finally returned to the Indian equities amid expectations of a rate cut by the Reserve Bank of India.
As per the Securities and Exchange Board of India’s (SEBI) data, FIIs bought $2.37 billion worth of equity in February, the biggest purchase since November 2017, reported Mint. READ MORE
Reliance Capital claims stake sale to halve its debt soon##Reliance Capital claims stake sale to halve its debt soon
Reliance Capital on Thursday claimed that it is hopeful of pairing its debt by around Rs 12,000 crore over the next three to four months, by when it expects to complete the stake sale in Reliance Nippon Life Asset Management and Reliance General Insurance.
The company has also lined up a few more non-core assets to monetise. The Anil Ambani group-run company is sitting on a debt of over Rs 18,000 crore. Read More