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Closing Bell: Sensex ends below 39000, Nifty sheds 151 points as Reliance Industries, metals, banks drag indexes

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Indian equity markets ended sharply lower on Monday as trade war fears gripped the street, extending Friday's losses as benchmark indices ended trade at one-month's closing lows. The Sensex gave up 39,000 mark, while the Nifty also slipped below its 50-day moving average of 11,681. Broader and sectoral indices also fell sharply with all sectoral gauges down, particularly metals. Only four Nifty stocks closed in the green with Yes Bank as top gainer. Here are the main highlights and developments from the stock markets today:

Closing Bell: Sensex ends below 39000, Nifty sheds 151 points as Reliance Industries, metals, banks drag indexes
  • Only 4 Nifty stocks close in the green, Yes Bank top Nifty gainer##Only 4 Nifty stocks close in the green, Yes Bank top Nifty gainer

  • Market extends Friday’s losses, Sensex, Nifty at 1-month closing low##Market extends Friday’s losses, Sensex, Nifty at 1-month closing low

  • Closing Bell: Sensex, Nifty fall sharply as Reliance Industries, metal, bank shares drag##Closing Bell: Sensex, Nifty fall sharply as Reliance Industries, metal, bank shares drag


    The BSE Sensex dropped 491 points, or 1.25 percent, to close at 38960. The NSE Nifty50 fell more than 151 points, or 1.28 percent, to settle belo1 11,700, at 11,672. The Nifty MidCap index also fell sharply by 1.17 percent. All 43 sectors on both bourses ended in the red with BSE Metal, Nifty Metal, BSE Energy and BSE Telecom among the worst performing sectors. Tata Steel, JSW Steel, Tata Motors, Vedanta, Axis Bank, ONGC and Sun Pharma declined by up to 6 percent. Gainers included Yes Bank, ZEEL, Wipro, Coal India and Infosys, rising by up to a percent. 

  • Modi government bringing new policy to improve efficiency of discoms, says power secretary##Modi government bringing new policy to improve efficiency of discoms, says power secretary

    After connecting over 2.62 crore households with power supply connection under Saubhagya scheme, the Narendra Modi-led government has now advanced its goal to provide 24-hour quality and reliable power supply across India. However, state-run power distribution companies are yet to meet the operational and financial targets set under the scheme UDAY (Ujjwal Discom Assurance Yojna). READ MORE

  • Here's what has so far happened in the markets today##Here's what has so far happened in the markets today

    -The BSE Sensex has shed 453 points, or 1.15 percent, to trade at 38,997 at 3.08 pm. The NSE Nifty50 is down 136 points, or 1.15 percent, to trade at 11,687.

    -Tata Steel, JSW Steel, Vedanta, Axis Bank, Bharti Airtel and Reliance Industries fell between 1 and 5 percent. 

    -Broader markets have fallen in tandem with both NSE and BSE midcap indexes falling well over over a percent. 

    -Yes Bank, Bharti Infratel, Infosys, Coal India and Wipro gained by up to 1.22 percent.

    -All 43 gagues are trdaing in the red with BSE Metal, BSE Energy and Nifty Media among the worst falling sectors.

    Click here to read full report

  • Cement stocks down on likely fall in prices in monsoon##Cement stocks down on likely fall in prices in monsoon

    Shares of most cement companies were down as investors were cautious on likely slowdown in demand as construction activity crawls during the monsoon season. Monsoon rains had hit Kerala coast on June 8. Shares of ACC, Ambuja Cement UltraTech Cement, Shree Cement, India Cements and JK Lakshmi Cement were down 0.6-3.2 percent at 2.40 pm.

  • Airtel Africa expects London IPO to be priced between 80-100 pence a share##Airtel Africa expects London IPO to be priced between 80-100 pence a share


    Airtel Africa Ltd, a unit of India's Bharti Airtel Ltd, on Monday set a price range of 80 to 100 pence per share for its planned initial public offering on the London Stock Exchange. The IPO is expected to raise 595 million pounds ($749.05 million) from the issuance of about 595.2 million to 744 million new shares. READ MORE

  • Top midcap stocks recommended by HDFC Securities for short trade opportunities
    The NSE midcap sector signals a near-term top reversal pattern, and after witnessing high volatility in the last week, the sector has declined in this week, said HDFC Securities in its report.
    Closing Bell: Sensex ends below 39000, Nifty sheds 151 points as Reliance Industries, metals, banks drag indexes
  • PC Jeweller tanks 19% as CRISIL downgrades debt rating##PC Jeweller tanks 19% as CRISIL downgrades debt rating


    Shares of PC Jewellers tanked 19 percent to a six-month low of Rs 47.65 as ratings agency CRISIL downgraded its rating for the company's bank loan facilities. The downgrade comes as the company's balance sheet saw a rise in receivables as on Mar 31, as against the management's stance of reducing the total receivables, CRISIL said. The jewellery maker's long-term rating has been cut to 'BB+/Negative' from 'BBB+/Negative', while the short-term rating has been slashed to 'A4+' from 'A2'. Shares quoted at Rs 49.65, down by 15.27 percent on NSE. 

  • This stock turned Rakesh Jhunjhunwala's Rs 13 crore investment in 2014 into Rs 102 crore in 2019
    SpiceJet, which has been a long-term bet of Rakesh Jhunjhunwala, has delivered strong returns in the last 5 years.
    Closing Bell: Sensex ends below 39000, Nifty sheds 151 points as Reliance Industries, metals, banks drag indexes
  • Reliance Infra confident of fulfilling debt obligations, says CEO Punit Garg##Reliance Infra confident of fulfilling debt obligations, says CEO Punit Garg

    A loss of whopping of Rs 3,300 crore, disclaimer of opinion from the auditors and impairment taken for assets of Reliance Naval and Engineering and Reliance Power—that was what Reliance Infrastructure of the Anil Ambani group had to report in its fourth-quarter earnings. READ MORE

  • Shriram Transport Finance shares fall 6% after Piramal Enterprises sells entire 10% stake in company##Shriram Transport Finance shares fall 6% after Piramal Enterprises sells entire 10% stake in company

    Shriram Transport Finance shares fell over 6 percent on Monday after Piramal Enterprises sold its entire stake in the company. CNBC-TV18 reported that about 10 percent equity worth Rs 2,305 crore exchanged hands on NSE at around Rs 1,000-1,023 per share. Piramal Enterprises, in an exchange filing said, "The company has sold its entire direct investment of 9.96 percent in the fully paid-up share capital of Shriram Transport Finance Company Ltd to third party investors on the floor of the stock exchange." READ MORE

  • Divi's Lab up 3% as US FDA clears Andhra Pradesh unit##Divi's Lab up 3% as US FDA clears Andhra Pradesh unit


    Shares of Divi's Laboratories rose over 3 percent to Rs 1,573.25 as the US Food and Drug Administration cleared the company's Chippada unit in Andhra Pradesh with zero observation. The US regulator had conducted an inspection at the unit on June 10-15. 

  • Metal companies down on trade war, weak data from China##Metal companies down on trade war, weak data from China

    Metal shares took beating on Monday amid reports that the ongoing US-China trade tariff war will hurt margins. Weak economic data from China, the world's largest consumer of metals, also adversely impacted sentiment. China's industrial production grew only 5 percent in May, the lowest increase since 2002, furthering slowdown concerns.  The Nifty Metal was down 2.35 percent at 2875 points, the worst performer among sectoral indices. Tata Steel and JSW Steel were the top two drags on the index falling between 3 and 4 percent.

  • Metal stocks under pressure amid trade tensions, Tata Steels falls over 4%##Metal stocks under pressure amid trade tensions, Tata Steels falls over 4%

  • VK Sharma of HDFC Securities recommends a buy on ICICI Bank, L&T, & Manappuram##VK Sharma of HDFC Securities recommends a buy on ICICI Bank, L&T, & Manappuram

    The latest analysis and commentary by stock market guru VK Sharma of HDFC Securities on what is moving the markets today. Check out his top stock recommendations.

  • Indian market not very sensitive to trade issues, says Geosphere Capital Management's Arvind Sanger##Indian market not very sensitive to trade issues, says Geosphere Capital Management's Arvind Sanger

    The Indian market is not very sensitive to trade issues, said Arvind Sanger, managing partner at Geosphere Capital Management, adding that the impact on major Indian companies of trade tensions was modestly negative. “I think that the Indian market is not that sensitive to these trade tensions. So it is not a big deal... the bigger concern is the bigger trade moves going on globally are likely to be a headwind for global growth and that is a negative for the Indian market,” said Sanger in an interview with CNBC-TV18. READ MORE

  • ASM Tech falls 7% as stock trades ex-dividend##ASM Tech falls 7% as stock trades ex-dividend 


    Shares of ASM Technologies fell over 7 percent today as the stock traded ex-dividend. The micro-cap IT firm had announced a final dividend of Rs 3 per share. Shares of the company were down 3.4 percent at Rs 103.10 on BSE. Meanwhile, the Sensex traded lower by 178 points, or 0.45 percent, at 39,274.

  • Kiran Mazumdar Shaw, Chairperson of Biocon, expects $370-400 million of revenue from biosimilars by FY21##Kiran Mazumdar Shaw, Chairperson of Biocon, expects $370-400 million of revenue from biosimilars by FY21

  • VK Sharma of HDFC Securities recommends a buy on ICICI Bank, L&T, & Manappuram##VK Sharma of HDFC Securities recommends a buy on ICICI Bank, L&T, & Manappuram

    The latest analysis and commentary by stock market guru VK Sharma of HDFC Securities on what is moving the markets today. Check out his top stock recommendations. READ MORE

  • Be selective in NBFCs, invest in top performers, says Equirus Securities' Ashutosh Tiwari
    In an interview with CNBCTV18.com, Ashutosh Tiwari, Head of Research at Equirus Securities talks about markets' expectations from Budget 2019 and the ongoing NBFC crisis.
    Closing Bell: Sensex ends below 39000, Nifty sheds 151 points as Reliance Industries, metals, banks drag indexes
  • Jet Airways shares decline 15% after PMO calls for a review on the airline##Jet Airways shares decline 15% after PMO calls for a review on the airline


    Extending losses for the eighth straight session, shares of Jet Airways fell 15 percent in opening trade on Monday after the PMO called for a review on the debt-laden airline. The stock fell as much as 14.9 percent to hit a new low of Rs 69.75 per share on the BSE. At 9:35 AM, the stock was trading 13.4 percent lower at 71.05 per share as compared to 0.30 percent (120 points) fall in the BSE Sensex at 39,331. READ MORE

  • Reliance Infra shares tank 14% post disappointing Q4 earnings##Reliance Infra shares tank 14% post disappointing Q4 earnings

    Shares of Reliance Infrastructure plunged 14 percent intraday after the Anil Ambani-led company reported a consolidated net loss of Rs 3,301 crore in the fourth quarter of 2018-19, its biggest ever loss. In its press release, the company said, "Net loss is largely a result of one-time impairment of Reliance Naval and Engineering Ltd acquired  in 2016 which was already NPA (non-performing asset ) company." READ MORE

  • Edelweiss expects food inflation to rise towards 4% in next 4-5 months##Edelweiss expects food inflation to rise towards 4% in next 4-5 months

    Expect overall food inflation is likely to rise towards 4 percent over the coming four-five months, outpacing Reserve Bank of India's (RBI) indicative trajectory, said Edelweiss in its research report. The report further added that food inflation is expected to rise, although core should moderate further. The rise in headline CPI (Consumer Price Index) is seen to be normalization of food inflation rather than a deteriorating dynamic. READ MORE

  • Shriram Transport Finance fall 6% after Piramal stake sale via block deal##Shriram Transport Finance fall 6% after Piramal stake sale via block deal

    Shriram Transport Finance shares fell over 6 percent on Monday after Piramal Enterprises sold its entire stake in the company. Piramal Enterprises sold 10 percent equity worth Rs 2,305 at Rs 1,000-1,023 per share.The stock fell as much as 6.5 percent in opening trade at Rs 1,011 per share on BSE. At 10:05 AM, the stock was trading 3.8 percent lower at Rs 1,039.95 as compared to 0.5 percent (199 points) fall in BSE Sensex at 39,253.

  • Piramal Enterprises likely to have exited Shriram Transport, sells 10% of its stake##Piramal Enterprises likely to have exited Shriram Transport, sells 10% of its stake


    Block deal: Shriram Transport sees 10 percent equity worth Rs 2,305 crore exchnaged on NSE at Rs 1,000-1,023 per share. As of March 31,  Piramal Enterprises holds 9.96 percent stake as of March 31. The company had bought 10 percent stake at Rs 723 per share in 2013. 

  • CNBCTV18 exclusive: PMO calls for a review on Jet Airways##CNBCTV18 exclusive: PMO calls for a review on Jet Airways

  • Opening Bell: Sensex, Nifty slip after flat start, Yes Bank, Indiabulls Housing gain, BPCL dips##Opening Bell: Sensex, Nifty slip after flat start, Yes Bank, Indiabulls Housing gain, BPCL dips


    Indian shares slipped after a flat start amid concerns over rising oil prices, delayed monsoon and trade dispute with the US. Benchmark indices, the BSE Sensex and the NSE Nifty50, started the week on a tepid note. The Sensex was down by 47.78 points, or 0.12 percent, to trade at 39404.29 at 9.17 am. The Nifty was down 22.90 points, or 0.19 percent, to trade at 11800.40. Cadila Healthcare, Aurobindo Pharma, Asian Paints, L&T, Titan Company, ICICI Bank, M&M were major gainers in early trade, while losers included JSW Steel, Tata Steel, Axis Bank, BPCL and IndusInd Bank. All other sectoral indices traded lower barring Infra.

  • Indian rupee opens unchanged at 69.80 against the US dollar##Indian rupee opens unchanged at 69.80 against the US dollar

    The Indian rupee opened unchanged at 69.80 against the US dollar on Monday. On Friday, the home currency had closed at 69.80 against the greenback.

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

    Ashwani Gujral - ashwanigujral.com

    - Sell Balkrishna Industries with a stop loss of Rs 770, target at Rs 740.

    - Sell Torrent Pharma with a stop loss of Rs 1,510, target at Rs 1,465.

    - Sell Biocon with a stop loss of Rs 253, target at Rs 240.

    - Buy Manappuram Finance with a stop loss of Rs 138, target at Rs 150.

    - Buy Tata Consultancy Services with a stop loss of Rs 2,230, target at Rs 2,300.

    Click here to check more buy-sell calls by Sudarshan Sukhani and Mitessh Thakkar for today