MARKET WRAP: Sensex slips 174 pts, Nifty below 11,500; IndiGo crashes 11%

In the broader market, the S&P BSE Mid-Cap slipped 110 points, or 0.75 per cent, to close at 14,414 levels while the S&P BSE Small-Cap ended 103 points, or 0.75 per cent, lower at 13,699 levels.

2:13 PM

PSBs losing lead bank relationships to private counterparts, says study

“As of 2016, 20 per cent of large Indian corporates participating in the Greenwich Associates annual Corporate Banking Study said they used at least one public sector bank as a lead corporate bank. By 2018, that share had fallen to just 15 per cent. The bulk of those relationships went to private sector banks”, the study pointed out. READ MORE

2:08 PM

Prabhudas Lilladher on Axis Bank

2:03 PM

Tata Global Beverages tumbles over 2%

1:53 PM

DLF skids over 3%

1:52 PM

Axis Bank slips 2%

1:37 PM

Stocks that hit 52-week low on BSE500

COMPANY	PRICE(rs)	52 WK LOW	CHG(rs)	CHG(%)
ASAHI INDIA GLAS	207.10	205.35	-2.90	-1.38
BLUE DART EXP.	2607.00	2600.00	-2.00	-0.08
BOSCH	15857.10	15807.60	-118.55	-0.74
C P C L	184.50	183.30	-4.80	-2.54
CARE RATINGS	882.50	880.00	-9.90	-1.11

1:35 PM

NEWS ALERT | US, Chinese negotiators hold 'constructive' phone talks on trade: US Official, reports Reuters

-- White House economic adviser Larry Kudlow said the talks “went well” and were constructive.

-- He said the two sides were talking about a face-to-face meeting, but warned that there was not a magic way to reach what has so far been an elusive deal.

-- US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin spoke with Chinese Vice Premier Liu He and Commerce Minister Zhong Shan

1:31 PM

NEWS ALERT | CBI recovers cash of Rs 57 lakh during searches in two separate cases related to alleged illegal Mining: CNBC TV18

-- Searches at 12 locations including Bulandshahar, Lucknow, Fatehpur, Azamgarh, Allahabad, Noida, Gorakhpur, Deoria

1:25 PM

Little headway on EV rollout deadline as govt, auto makers stick to guns

Late last month, a meeting between established auto makers and newer players in the electric vehicle segment continued well past the fixed time.

 

Participants said that the closed-door meeting, called to find a way out to meet the 2022 deadline for conversion of three-wheelers into electric vehicles and the 2025 deadline for two-wheelers was stormy, to put it mildly. READ MORE

1:12 PM

Budget impact: Companies bat for Customs duty rollback on ACs, TVs

The government might roll back the hike in Customs duty on ACs and TVs as pressure from companies grows. Finance Minister Nirmala Sitharaman, in the Budget presented last Friday, had hiked the Customs duty on indoor units and outdoor units of ACs by 10 per cent, taking the total to 20 per cent each. READ MORE

1:01 PM

Market check

1:01 PM

Market check | Sensex sees sudden fall

12:59 PM

NEWS ALERT | Will launch 2&3-wheeler EVs just before April 2020: Rajiv Bajaj, MD, Bajaj Auto to CNBC TV18

-- Says, not in favour of any incentive given to EVs; products should be sustainable 

-- Against any blanket ban on 2/3 wheelers IC engines 

-- Transition to EVs must be in phases and not via ban on IC engines

12:52 PM

Metal shares under pressure; JSW Steel, Hindustan Zinc hit 52-week lows

Shares of metal companies were under pressure, with most of the frontline sector companies trading lower by up to 4 per cent on the National Stock Exchange (NSE) amid subdued demand. Jindal Steel and Power (JSPL), Tata Steel, JSW Steel, Steel Authority of India (SAIL), Hindustan Zinc and Vedanta were down in the range of 3 per cent to 4 per cent on the NSE. READ MORE

12:51 PM

Market check