MARKET WRAP: Sensex slips 354 pts on weak global cues, Nifty ends at 11,584

All thay happened in markets today.

3:40 PM

Sectoral gainers and losers on NSE

3:39 PM

Top gainers and losers on S&P BSE Sensex

3:37 PM

MARKET AT CLOSE

The S&P BSE Sensex fell 354 points or 0.91 per cent to close at 38,585, while the NSE's Nifty50 index dropped 88 points or 0.75 per cent to settle at 11,584.

3:23 PM

NEWS ALERT | Cargo agent seizes Jet Airways planes in Amsterdam for dues

3:22 PM

MARKET CHECK

S&P BSE SENSEX	38,568.71	-370.51	-0.95
S&P BSE SENSEX 50	12,056.41	-96.96	-0.80
S&P BSE SENSEX Next 50	33,421.73	-171.82	-0.51
S&P BSE 100	11,761.51	-89.84	-0.76
S&P BSE Bharat 22 Index	3,603.34	-18.09	-0.50

3:00 PM

Vodafone Idea's Rs 25,000 crore rights issue opens. Is it worth your money?

Vodafone Idea’s Rs 25,000 crore rights issue opened on Wednesday. The country's largest telecom firm is offering 2,000 crore shares at a price of Rs 12.50 apiece. The entitlement ratio of the issue, which will close on April 24, has been fixed at 87 rights shares for every 38 currently held by shareholders. On Tuesday, the stock settled at Rs 16.90 apiece on BSE. READ MORE

2:50 PM

Heatmap: S&P BSE Sensex

2:47 PM

NEWS ALERT | Australia's Wollongong Coal, owned by Jindal Steel & Power, shuts down last operating mine

2:04 PM

Nifty Pharma index is trading 1.5% higher

2:01 PM

Market check

1:48 PM

Best start to financial year for the primary market in three years

The financial year 2019–20 (FY20) has seen the best start for the primary market in the last three years, with the initial public offers (IPOs) of Metropolis Healthcare and Polycab India raising Rs 2,550 crore on the back of strong response from institutional investors. The fund mobilisation in April 2019 is highest in the last nine months, since July 2018, when two companies had raised Rs 3,925 crore from the primary market. READ MORE

1:37 PM

Info Edge hits new high, gains 3% after investments in Bizcrum Infotech

Shares of Info Edge, which runs Naukri.com, hit a new high of Rs 1,940, up 3 per cent, in intra-day trade on the BSE on Wednesday, after the company said it has invested about Rs 6 crore in Bizcrum Infotech (ShoeKonnect). The stock surpassed its previous high of Rs 1,927, touched on March 25, 2019, in intra-day trade. READ MORE

1:27 PM

United Bank is not a candidate for merger, says MD & CEO A K Pradhan

The Kolkata-based United Bank of India (United Bank), which has been struggling with losses and dud-loans hopes to come out of the prompt corrective action (PCA) framework by the end of Q2 of fiscal’20. And the infusion of capital has come as a great relief after a long wait. The bank has suggested the Centre reduce its stake through disinvestment; and is clear it is not a candidate for a merger given its unique geographical and demographical positioning.  READ MORE

1:12 PM

Stocks that hit 52-week high on BSE500

COMPANY	PRICE(rs)	52 WK HIGH	CHG(rs)	CHG(%)
INFO EDG.(INDIA)	1928.70	1940.00	37.95	2.01
SKF INDIA	2117.00	2125.00	60.80	2.96

12:57 PM

NEWS ALERT | Bharti Airtel selects Ericsson to supply VoLTE equipment to co

12:54 PM

Healthcare Q4 preview by Elara Capital

We expect EBITDA growth of 22.2 per cent YoY and down 4.2 per cent QoQ for our pharma universe in Q4FY19E, driven by steady domestic business. Further, currency tailwinds (barring ZAR, Real & Rouble) are also to lift exports growth. In US dollar terms, US sales is likely to be steady QoQ, led by new launches and stabilization in the base business. Among our coverage universe, all companies are expected to post healthy EBITDA YoY, barring Cadila Healthcare, which is likely to see a decline of 2 per cent YoY given lower India business.

12:53 PM

NEWS ALERT | Congress president Rahul Gandhi files nomination from Amethi

12:49 PM

Nifty Pharma index is trading 1.3% higher

12:35 PM

Vikas EcoTech gains 11.5%

12:25 PM

Tata Motors climbs over 4%

12:15 PM

Land bank monetisation, demand uptick key triggers for Sobha Developers

Even as the realty sector is struggling to improve its volumes, Bengaluru-based developer Sobha has been able to post record sales in the March quarter. The firm achieved highest ever new sales of over a million square feet for the second consecutive quarter enabling it to reach four million square feet in FY19. READ MORE

12:05 PM

Sectoral trends on NSE

11:54 AM

Market check

11:42 AM

Lakshmi Vilas Bank dips almost 5%

11:32 AM

Tata Motors hits 6-month high; rises 25% in two weeks

Shares of Tata Motors hit a six-month high of Rs 212, up 3 per cent, on Wednesday in an otherwise subdued market on the expectation of margin expansion due to an improvement in Jaguar Land Rover (JLR’s) businesses. READ MORE

11:31 AM

Hurdle is high for India's stock market even if Modi wins a second term

A survey of 21 global funds and strategists show most expect him to return, an outcome that may be baked into asset prices. With valuations already high, the disappointment if he fails to get a majority, needs to form another coalition -- or loses the poll -- may deflate the rally that’s made India the first among markets valued at more than a $1 trillion to hit a new peak this year. READ MORE

11:18 AM

YES Securities on sectors and stocks which are likely to do well

Sectors which can outperform the index from current scenario are BankNifty & Energy. Revival is likely in Autos. Interestingly, in previous two election years (2009 & 2014), Auto index had recorded impressive returns in both Q2 & Q3. Stock ideas: HDFC & Siemens

11:00 AM

Fertilizer stocks in the green

COMPANY NAME	LATEST	HIGH	LOW	CHG (rs)	CHG(%)	VALUE (rs CR)	VOLUME
R C F	61.50	62.15	59.15	1.55	2.59	0.98	159165
G S F C	105.50	106.50	103.30	1.45	1.39	1.00	94949
NATL.FERTILIZER	35.45	35.65	34.75	0.70	2.01	0.15	41379
G N F C	329.65	333.70	323.50	6.95	2.15	0.87	26289
MADRAS FERT.	21.35	21.75	20.60	0.85	4.15	0.03	15375
F A C T	37.10	37.95	36.70	0.40	1.09	0.03	8700
CHAMBAL FERT.	166.00	166.10	161.15	3.75	2.31	0.12	6950

10:50 AM

Dish TV slips almost 3%

10:43 AM

Demand concerns, monsoon forecast weigh on FY20 outlook for FMCG companies

The downgrade cycle for fast-moving consumer goods (FMCG) seems to have started with CLSA assigning ‘sell’ rating to Asian Paints from ‘outperform’ earlier, due to initial signs of demand distress The firm highlighted its concerns over the demand situation for discretionary space which are non-essential commodities such as watches, perfumes, house painting as well as for staples. READ MORE