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BSE Sensex and NSE's Nifty 50 fell on Friday. Photo: mint
- Mumbai: BSE Sensex and NIF's Nifty 50 erased all morning gains and traded lower at the noon trading session, driven mainly by financial stocks. The Indian rupee also trimmed its first gains to trade around the 72-bar. Asian stocks increased their gains after US stocks hit new historic highs, while the dollar slid as investors have removed trade tensions between China and the United States. In addition, a recovery in emerging market assets has also boosted market confidence. Oil prices fell after US President Donald Trump urged OPEC to increase production at its meeting in Algeria.Meanwhile, the FII sold Wednesday shares for an amount of Rs 2184.55 crore, while the DII have bought shares with a value of Rs 1201.3 crore, according to provisional data. The stock market was closed Thursday because of Muharram. Here are the latest market updates:
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1:10 pm IST Market updates: Sensex slips 900 pointsBSE Sensex has traded down 965.91 points, or 2.60%, to 36,155.31, while the Nifty 50 has fallen 289.30 points, or 2.58%, to 10,945 .05. BSE MidCap and SmallCap fell by 6.72% and 6.36% respectively.
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12:58 pm IST Stocks of housing finance companiesShares of housing finance companies have fallen. Shares of Dewan Housing Finance fell by 47.63% to Rs 319.75, Indiabulls Housing Finance down 16.77% to Rs 962.55. Can Fin Homes decreased by 6.82% to Rs 286.80. PNB Housing Finance fell 4.24% to Rs 1181.55. LIC Housing Finance was down 14.10% to Rs 396.45. The HDFC dropped 0.69% to 1818.45 Rs.
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12:35 PM IST Mahindra shares exchange higherThe shares of Mahindra and Mahindra Ltd. increased by 3.08% to Rs 976.50 The company renews its goal of introducing larger SUVs and multipurpose vehicles as it seeks to avoid entering the market more and more crowded compact SUVs, said Mint, citing four people aware of these projects. The shift in strategy follows the moderate demand for compact SUVs introduced by Mahindra in recent years, the report added. Read more
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12:18 PM IST Sun Pharma obtains drug approval from Australian regulatorSun Pharmaceutical Industries Ltd has received approval from the Australian Therapeutic Goods Administration for its specialized product, ILUMYA (tildrakizumab), for the treatment of adults with moderate-to-severe plaque psoriasis who are candidates for treatment. systemic. Sun Pharma shares traded down 1.12% to Rs 640.05.
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11:55 am IST The shares of oil trading companies are trading higherShares of Petroleum Marketing Companies (MOCs) Bharat Petroleum Corp. Ltd, Hindustan Petroleum Corp. Ltd. and Indian Oil Co. Ltd have been traded to a higher level. The government plans to ask the state oil companies to lock in crude oil prices, anticipating a spike when US sanctions against Iran resume in November, the statement said. Reuters, citing a government source. BPCL shares rose 1.93% to Rs 372.15. HPCL was up 2.58% to 58.30 Rs. IOC shares gained 3.32% to Rs 158.50.
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11:35 am IST Shares of sweets fall after the fine of the ICCShares of Bajaj Hindusthan Sugar, Dalmia Bharat Sugar and Industries and Balrampur Chini Mills fell after the Indian Competition Commission (ICC) on Thursday imposed a penalty of Rs 38.05 billion to sweets and their associations for bidding Petroleum marketing companies for the purchase of ethanol to mix with gasoline. Bajaj Hindusthan said after market hours on Wednesday that CCI had imposed a penalty of Rs 12.35 crore. The company said it would appeal the decision.Bajaj Hindusthan shares fell 9.16% to Rs.10.51, their largest intraday percentage since May 14th. The shares of Dalmia Bharat Sugar and Industries fell from Rs 5.645 to Rs 86.05.The shares of Balrampur Chini Mills were down 3.02% to Rs 84.90. Reuters
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11:13 am IST Mega banks merger: all eyes are now turned to the exchange ratio of sharesThe Nifty PSU Bank index rose 2.05%, led by SBI, up 2.38%, Bank of Baroda 1.80%, Oriental Bank 1.52% and Canara Bank 1.48%.
A stock swap ratio of 1: 8.5 prior to the announcement of the bank merger appears more appropriate given the financial statements of Dena Bank. Https://t.co/3CfcaXOwnW
– Livemint (@livemint) September 21, 2018
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10:55 am IST Market Updates: Sensex, Higher Nifty TradeBSE Sensex opened 37,278.89, up 157 points, up 0.42% from the previous close. It jumped 368 points to a high of 37,489.24. The Nifty 50 opened at 11,271.30, up 36.95 points, or 0.32%, from its previous close. The 50-share index jumped 112.45 points to a record high of 11,346.80.At 10:50, the Sensex traded 265.02 points, or 0.71%, to 37,386.24, while the Nifty 50 rose 81.35 points, or 0.72%, to 11,315.70. MidCap BSE was up 0.46%. SmallCap increased by 0.13%.All sector indices on BSE, with the exception of IT and Teck, traded up, mainly metal, which rose 2.10%, oil and gas, energy and basic materials.Axis Bank, ICICI Bank, Tata Steel, IOC and Mahindra were among the top winners, while Yes Bank, Infosys, Hindustan Unilever and Sun Pharma were among the biggest losers. In the Sensex basket of 30 stocks, 24 stocks advanced, 7 fell and 1 unchanged. In the Nifty 50, 37 advanced, 12 declined and 1 unchanged.
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10:20 am IST ICICI Bank shares up nearly 4% on the fundraising planShares of ICICI Bank rose 3.91% to Rs 333.40 after the bank said on Wednesday it was planning to raise offshore funds via debt bond issues. Meanwhile, India's Securities and Exchange Board said on Tuesday that ICICI Bank responded to its opinion regarding an investigation into alleged regulatory breaches involving its managing director, Chanda Kochhar, her husband and NuPower Renewables promoter Deepak Kochhar. . .
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10:08 am IST SBI says oversold rupee could recover to 68 / dollar as oil spikesThe Indian rupee may recover as oil reaches its peak and investors realize the currency has been sold too heavily due to the emerging market debacle, according to State Bank of India or SBI. The currency's recent slide is also expected to be self-correcting to some extent, as its weakness will help boost exports, said Shantanu Shukla, vice president of global markets at SBI in Singapore."In the short term, the rupee is suffering from market sentiment," Shukla said in an interview. "Right now, it's contagion. Everything is painted with the same brush. I do not think that beyond 70 is a figure that the Indian rupee should negotiate.
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9:37 am IST ILFS Transportation Networks drops 6%The shares of ILFS Transportation Networks Ltd fell 6.49% to Rs 22.30. Infrastructure Leasing and Financial Services Ltd. (IL & FS) plans to sell a majority stake in their financial services unit and additional assets worth 4,500 crores to repay their debts by avoiding bankruptcy. familiar with the development says, asking for anonymity.
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9:30 am IST Jet Airways shares down 8%Jet Airways shares fell 8% to Rs 224.70. On Thursday, a Jet Airways flight to Jaipur had to return to Mumbai on Thursday for failing to maintain cabin pressure, resulting in a haemorrhage. nose and ears in several passengers.In addition, a consortium of foreign lenders to Jet Airways (India) Ltd. could ask the airline to accelerate the repayment of loans worth $ 150 million, said Mint, quoting two people directly aware of the 'anonymity.
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9:22 am IST Shares of Yes Bank rise to 34% while RBI asks the bank to find a new CEOYes Bank shares fell 34.03% to Rs 210.10 as many brokerages downgraded equities and lowered the target price after the three-year extension of Indian central bank Rana Kapoor. Brokerage firms Goldman Sachs, Nomura Research, Citigroup and IDFC Securities downgraded the stock and reduced its target price. Among the analysts who cover the title, 39 have a "buy" rating, nine have a "hold" rating, while four have a "sell" rating. Bloomberg The data.Goldman Sachs reduced its rating to neutral and reduced its target price to 300 Rs against 383 Rs per share. Nomura Research downgraded the purchase of the share to Neutral and reduced its target price to Rs. 345 against 500 previously. Citigroup reduced its sales to buy and reduced its target price to Rs 270, down 39% from its previous target. IDFC Securities Ltd gave a rating lower than its benchmark and lowered its target price to Rs 230 per share against Rs 350 per share.Broker Jefferies India believes that "we do not agree with the view that without Rana Kapoor there is no future for this large systemic bank or that its finances have been prepared. CET 1 is weak, but we do not see a slowdown in material growth. More clarity is needed, and we have questions, but we do not panic. " The company has maintained its purchase note but has reduced its target price to Rs 365 per share, compared to Rs 445. Read more
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9:08 am IST Rupee strengthens against the US dollarThe Indian rupee advanced against the US dollar, following gains from Asian currencies due to the lack of further escalation of trade tensions between the United States and China. At 9:08, the rupee was trading at 71.92 against the dollar, up 0.80% from Wednesday's close of 72.38. The national currency opened at 71.86 dollars per dollar. The 10-year gilts return was 8.031%, below its previous close of 8.07%. Bond yields and prices move in opposite directions. The rupee fell 11.5 percent in 2018, while foreign investors sold $ 923.80 million and $ 6.51 billion, respectively, in the equity and debt markets.
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8:53 am IST How are IPOs indexed in 2018 performing well?Shares of more than half of the companies that went public this year are trading below their issue price, due to volatile markets, aggressive pricing and sometimes equity and sector-specific issues.
Bandhan Bank and Rites are the highest-performing IPOs in 2018, while ICICI Securities and Apollo Microsystems are among the worst. https://t.co/cWs3lYVBhM
– Livemint (@livemint) September 21, 2018
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8:45 am IST Commodities corner: gold prices up, oil gainsGold prices hit a new high in a week as the dollar weakened following the fear of a Sino-US trade war, with the yellow metal leading for the first time in four weeks. Spot gold rose 0.2% to $ 1,209.38, after hitting its highest since September 13th at $ 1,210.01. It has risen by 1.3% so far this week. US gold futures rose 0.3% to $ 1,214.30 an ounce.Oil Prices fell on Friday after falling in the previous session as US President Donald Trump urged OPEC to lower crude prices before meeting in Algeria this weekend. The international benchmark Brent for delivery in November lost 3 cents to 78.67 dollars a barrel at 7:37 am. US crude West Texas Intermediate for October delivery fell 16 cents to 70.16 dollars a barrel.Metals: London copper advanced on Friday and was on track to post its strongest weekly gain in four weeks, as investors felt that commercial rates would have a smaller impact on global growth than expected. London Metal Exchange copper rose 1% to $ 6,140 per tonne, up nearly 3% this week. Zinc premiums climbed to $ 345 per tonne, the highest level in at least six years amid a tightening of supply in China. Reuters
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8:32 am IST Opening bell: clues to watch before trading today■ US markets closed with gains that sent key benchmarks to reach highs. S & P 500 was up 0.78% at 2,930. Tracking gains, Asian markets opened higher.■ Keep an eye on Yes Bank Ltd. The Reserve Bank of India has authorized the bank's chief executive, Rana Kapoor, to remain in office until 31 January 2019. According to Standard of the company, some brokerages have reduced their rating on the stock.■ The passengers of a Jet Airways flight suffered a haemorrhage of the nose and ears after the crew had forgotten to activate the cabin air pressure controls. According to some reports, some passengers threaten to sue and get compensation.■ Hotel Leelaventure, cash-strapped, fails to pay quarterly interest to LIC, reports Standard of the company.■ Lenders with stressed energy assets may decide, before October 10, to reconfigure debt, sell assets and make ad-hoc payments, otherwise they may go forward. to bankruptcy courts. mint.■ Power Grid Corporation of India has obtained shareholder approval to raise up to Rs 20,000 through bonds or debentures on a private placement basis in 2019-20, reports PTI.■ Finally, the government plans to ask state-owned oil companies to lock in crude oil prices, reports Reuters. According to the report, the move would be another step to tackle the rupee problem. R Sree RamWith contributions from Reuters
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