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As on Feb 22, 2019 12:00 AM Your results on : End Session    
Sensex, Nifty end near flat line
22-Feb-2019 (16:42)

The Sensex and the Nifty ended near flat line amid mixed cues from other Asian shares. Selling in Kotak Mahindra Bank, HDFC Bank and Reliance Industries capped gains. The indices opened lower, but bounced back in morning trade. The recovery was short lived as indices slipped once again in mid-morning trade. Benchmarks firmed up again in mid-afternoon trade and ended near flat line. The Nifty briefly crossed 10,800 mark in intraday trade.

The Sensex fell 26.87 points or 0.07% to settle at 35,871.48. The index rose 43.34 points, or 0.12% at the day's high of 35,941.69. The index fell 102.56 points, or 0.29% at the day's low of 35,795.79.

The Nifty 50 index rose 1.80 points or 0.02% to settle at 10,791.65. The index rose 11.70 points, or 0.11% at the day's high of 10,801.55. The index fell 31.45 points, or 0.29% at the day's low of 10,758.40.

Among secondary barometers, the BSE Mid-Cap index rose 0.38%. The BSE Small-Cap index rose 0.77%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was strong. On BSE, 1622 shares rose and 910 shares fell. A total of 153 shares were unchanged.

Among the sectoral indices on BSE, the S&P BSE Metal index (up 1.62%), the S&P BSE Realty index (up 1.38%), the S&P BSE Auto index (up 1.55%) outperformed the Sensex. The S&P BSE Energy index (down 0.17%), the S&P BSE Finance index (down 0.31%), the S&P BSE Bankex (down 0.43%) underperformed the Sensex.

Auto shares advanced. Tata Motors (up 2.86%), Mahindra & Mahindra (up 2.01%), Maruti Suzuki India (up 1.76%), Hero MotoCorp (up 1.65%), TVS Motor Company (up 1.52%), Ashok Leyland (up 0.92%), Eicher Motors (up 0.39%) and Bajaj Auto (up 0.25%), edged higher. Escorts fell 0.02%.

Among index pivotals, HDFC Bank (down 1.11%), Reliance Industries (down 1.11%), HDFC (down 0.35%) and ITC (down 0.22%), edged lower.

Yes Bank rose 3.23%. The bank clarified during trading hours today, 22 February 2019, that its disclosure with regard to 'Divergence' was in line with the practice followed by the peer banks, wherein apart from the disclosure on 'Divergence', no mention is made on the rest of the RAR due to the reasons of confidentiality, i.e. no part of the RAR can be disclosed without prior approval of RBI. However, after receipt of the letter from RBI dated February 15, 2019, in response to the disclosure made by the bank on February 13, 2019, the Bank disseminated the contents of the said RBI letter on February 15, 2019, in which it was clearly disclosed to the stock exchanges that there are other lapses and regulatory breaches in various areas of the Bank's functioning in the RAR. Therefore, the bank has fully complied with the disclosure requirements in line with Regulations and also the directives of the RBI.

Kotak Mahindra Bank fell 3.71% at Rs 1241.05, following a series of bulk deals on the stock exchanges. Media reported on Thursday that ING Group could sell around 1.20% stake in the private sector lender through block deals at an offer price of in the range of Rs 1,125-1,250 per share. ING Mauritius Investments held a 3.06% stake in Kotak Mahindra Bank as of 31 December 2018.

Dr Reddy's Laboratories rose 2.01% at Rs 2637.40 after the company said that the audit of its formulations Shrevepmi plant, Louisiana, USA, by the USFDA, has been completed with zero observations. The announcement was made during market hours today, 22 February 2019.

Tata Steel rose 0.81% at Rs 501.95. The company informed that the meeting of the board of directors of the company is scheduled on 26 February 2019, inter alia, to consider and approve the issuance of unsecured Non-Convertible Debentures on private placement basis. The announcement was made after market hours yesterday, 21 February 2019.

Reliance Nippon Life Asset Management jumped 6.09% to Rs 198.45. Reliance Capital announced yesterday, 21 February 2019, that it has invited its partner, Nippon Life Insurance Co. to make an offer to acquire up to 42.88% stake held by Reliance Capital in Reliance Nippon Life Asset Management (RNAM). Nippon Life Insurance Co. already holds 42.88% stake in RNAM.

Suzlon Energy surged 30.93% to Rs 5.80. The stock hit an intraday high of Rs 6.15.

Meanwhile, the Reserve Bank of India (RBI) on Thursday released the minutes of the Monetary Policy Committee's meeting held on February 5-7. Governor Shaktikanta Das has said that the neutral stance of the central bank will provide flexibility and the room to address challenges to sustained growth of the Indian economy over the coming months, as long as the inflation outlook remains benign.

In his statement, Das said that global growth was losing traction amidst lingering trade tensions and uncertainty around Brexit. On the positive side, crude oil prices remain soft, though the benefit for net exports could be restricted due to slowing global demand. GDP growth for 2019-20 is projected at 7.4% - in the range of 7.2-7.4% in H1, and 7.5% in Q3 - with risks evenly balanced.

Das noted that the CPI inflation print of December at 2.2% continued to surprise on the downside. The RBI Governor also believed that the outlook for food inflation was expected to be benign in the backdrop of excess domestic supply conditions in many food items. CPI inflation is projected at below 4% in the remaining four quarters - 2.8% in Q4:2018-19, 3.2-3.4% in H1:2019-20 and 3.9% in Q3:2019-20 - with risks broadly balanced.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 71.17, compared with closing of 71.24 during the previous trading session.

In global commodities markets, Brent crude oil futures edged higher. Brent for April 2019 settlement was up 16 cents at $67.23 a barrel.

Overseas, European stocks were trading higher Friday, as market participants closely monitored signs of progress in trade talks between the world's two largest economies.

Asian shares ended mixed, following a negative closing in the US stocks after the release of a stream of disappointing global economic data on Thursday. Investors continue to closely watch high-level talks between US and Chinese trade negotiators in Washington, with little more than a week left before a US-imposed deadline for an agreement expires, triggering higher tariffs.

US stocks finished lower Thursday as fresh economic data out of Europe and Japan suggest further slowing in global growth. Concerns about slowing global growth were underscored by the release of surveys from Europe and Japan that showed manufacturing contracting in February, with export-dependent German manufacturers reporting the worst drop in activity in more than six years.

In US, December's durable goods data showed a surprise slowdown in business spending. The Philadelphia Fed manufacturing survey fell to minus 4.1, the first negative number since May 2016 and the biggest drop since August 2011. Markit PMI data also showed manufacturing activity at the slowest pace in 17 months.

Quick Wrap: Nifty Metal Index records a surge of 1.65%
22-Feb-2019 (16:00)
Sensex, Nifty gain for second straight session
21-Feb-2019 (16:27)
Quick Wrap: Nifty Pharma Index records a surge of 1.16%
21-Feb-2019 (16:00)
Sensex, Nifty rally on upbeat global stocks
20-Feb-2019 (16:36)
Quick Wrap: Nifty Metal Index records a surge of 2.80%, NIFTY climbs 1.24%
20-Feb-2019 (16:00)
Indices settle with modest losses
19-Feb-2019 (16:29)
Quick Wrap: Nifty IT Index declines 2.08%
19-Feb-2019 (16:00)
Market drops sharply as pivotals slide
18-Feb-2019 (16:36)
Quick Wrap: Nifty Energy Index declines 1.26%
18-Feb-2019 (16:00)
Market slips in volatile trade
15-Feb-2019 (16:37)
Quick Wrap: Nifty Pharma Index falls 3.11%
15-Feb-2019 (16:00)
Sensex ends below 36,000 mark
14-Feb-2019 (16:39)
Quick Wrap: Nifty Media Index records a surge of 3.91%
14-Feb-2019 (16:00)
Volatile session ends with losses; Nifty settles below 10,800
13-Feb-2019 (16:30)
Quick Wrap: Nifty PSE Index registers a drop of 2.30%
13-Feb-2019 (16:01)
Sensex slides over 240 pts, Nifty ends at 10,831.40
12-Feb-2019 (16:19)
Quick Wrap: Nifty PSU Bank Index registers a drop of 1.61%
12-Feb-2019 (16:00)
Benchmarks decline for 2nd straight session
11-Feb-2019 (16:35)
Quick Wrap: Nifty PSU Bank Index declines 1.74%
11-Feb-2019 (16:00)
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