Share Market, Rupee, Gold, Petrol, Diesel Price/Rate highlights: Benchmark indices ended higher on Friday. (Express photo by Nirmal Harindran)
Share Market, Rupee, Gold, Petrol, Diesel Price/Rate Today Highlights: The benchmark indices on the BSE and National Stock Exchange (NSE) ended with modest gains on Friday following a selloff in the last hour of trade.
The S&P BSE Sensex settled at 40,356.69, up 70.21 points or 0.17 per cent. The broader Nifty 50 index gained 23.20 points or 0.20 per cent to end the day at 11,895.30. Both the topline indices had risen around 0.7 per cent higher during the day’s trade.
In sectoral indices, the Nifty PSU Bank index was the top gainer on Friday. The index settled 3.50 per cent higher led by sharp gains in the shares of Central Bank of India, State Bank of India (SBI) and Bank of India. The Nifty Pharma index was the second-biggest gainer, ending 1.64 per cent higher led by Glenmark Pharmaceuticals and Divi’s Laboratories.
The broader market indices however ended on a mixed note on Friday. The S&P BSE MidCap rose 93.05 points or 0.63 per cent to end at 14,772.99, while the S&P BSE SmallCap index slipped 17.28 points or 0.13 per cent to settle for 13,326.40.
In individual stocks, Vodafone Idea rallied 24.75 per cent to settle at Rs 3.68 on the BSE on Friday. The stock surged 27.12 per cent to end at Rs 3.75 on NSE. Earlier in the day, it had crashed by 11.52 per cent to hit a fresh record low of Rs 2.61 apiece on BSE, while on the NSE, it touched a fresh record low of Rs 2.40, down 18.64 per cent after the telecom giant announced a record loss of Rs 50,922 crore for the September quarter.
Global Markets
Asian stocks jumped on Friday, lifted by White House comments that suggested the possibility of an imminent trade deal between Washington and Beijing, which revived hopes that their tariff war may be nearing an end.
The buoyant mood looked set to extend to Europe, where pan-region Euro Stoxx 50 futures rose 0.57 per cent to 3,705, German DAX futures climbed 0.53 per cent to 13,253.5, and FTSE futures inched up 0.36 per cent to 7,322.
US S&P 500 e-mini stock futures also rose, adding 0.35 per cent to 3,107.8 after the S&P 500 index finished at a record closing high on Thursday. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.57 per cent. Japan’s Nikkei added 0.7 per cent and Australian shares gained 0.87 per cent.
(Global market inputs from Reuters)
The S&P BSE Sensex settled at 40,356.69, up 70.21 points or 0.17 per cent. The broader Nifty 50 index gained 23.20 points or 0.20 per cent to end the day at 11,895.30.
GMR Infrastructure Limited’s consolidated net loss for the quarter ended September 30 widened to Rs 457 crore against Rs 334 crore in the July-September period last fiscal, a filing with the bourses said Thursday night.
The consolidated gross revenues for the quarter under discussion was Rs 2,018 crore. It was Rs 1,904 crore in Q2FY19, it said. Click here to read
Vodafone Idea shares crashed by 11.52 per cent to hit a fresh record low of Rs 2.61 apiece on BSE, while on the National Stock Exchange, the scrip touched a fresh record low of Rs 2.40.
However, as the day progressed, the stock recovered from its record lows, swinging 35.42 per cent on the NSE and 24.52 per cent on BSE to hit an intraday high of Rs 3.25 on both the bourses. Click here to read
Bullion prices fell in the benchmark markets on Friday with prices of gold slipping up to Rs 187 and silver declining by Rs 515.
The opening price for gold of 999 purity was Rs 38,196 per 10 grams, down Rs 187 from Thursday's closing price of Rs 38,383, while that of 995 purity gold was Rs 38,043, down Rs 186 from Rs 38,229 on Thursday, according to the data published by India Bullion and Jewellers Association (IBJA).
Price of silver fell by Rs 515 in the early trade on Friday. The precious metal of 999 purity was at Rs 44,360 a kg, down by Rs 515 from Rs 44,875 on Thursday, the IBJA data showed.
State-owned Union Bank of India on Thursday reported a net loss of Rs 1,194 crore for the July-September quarter as against a net profit of Rs 139 crore in the same quarter of 2018-19 as provisioning increased during the quarter.
Total income for the September quarter rose to Rs 10,556.57 crore from Rs 9,438.26 crore in the same period a year ago, the bank said in a regulatory filing. Click here to read
With long-term liabilities of Rs 104,402 crore and short term borrowings of Rs 4,120 crore as of March 2019, Vodafone Idea Limited may throw up a new challenge for banks and financial institutions saddled with recovery of huge non-performing assets (NPAs).
Sources in the banking and mutual fund (MF) industry say that if the telco fails to recover from the lows it has hit, it may put additional burden on banks and other financial institutions and it is time forthe government to look at the issue as the issue of India’s telecom industry. Click here to read further
Delhi:
Petrol- 73.63 per litre
Diesel- 65.79 per litre
Kolkata:
Petrol- 76.33 per litre
Diesel- 68.20 per litre
Mumbai:
Petrol- 79.30 per litre
Diesel- 69.01 per litre
Chennai:
Petrol- 76.53 per litre
Diesel- 69.54 per litre
Bengaluru:
Petrol- 75.96 per litre
Diesel- 68.03 per litre
Source: IOCL
India’s telecom crisis has deepened with two leading companies — Vodafone Idea and Bharti Airtel — coming out with a huge combined loss of Rs 73,967 crore for the September quarter of the fiscal 2019-20, threatening the ability of the two firms to “continue as a going concern”.
Vodafone Idea (VIL) alone posted a net loss of Rs 50,922 crore for the second quarter, the highest ever net loss reported by a company in India. Bharti Airtel on Thursday posted its biggest consolidated net loss at Rs 23,045 crore for the July-September quarter. Click here to read the entire report
The rupee was trading on a firm note in early trade on Friday. The domestic currency had risen to 71.78 against the US dollar in the opening hour of trade on Friday against Thursday's close of 71.97 against the greenback.
At 9:30 am, the S&P BSE Sensex was up 247.72 points or 0.61 per cent at 40,534.20, while the broader Nifty 50 was trading at 11,942.20, up 70.10 points or 0.59 per cent.