MARKET WRAP: Sensex ends 209 pts up, Nifty at 10,843 post Trump-Kim meeting

Among sectoral indices, the Nifty Pharma index ended over 2.5% higher led by a rise in the shares of Lupin, Dr. Reddy's Laboratories and Glenmark Pharmaceuticals.

1:49 PM

US-North Korea Summit

Kim Jong Un taking first step towards bright future for his people: Donald Trump 

1:46 PM

Bitcoin at 2-month low after cryptocurrency exchange hack in South Korea

A South Korean cryptocurrency exchange has said hackers have stolen about one-third of the coins traded on its market, an announcement that sent bitcoin prices tumbling to a two-month low. READ MORE

1:35 PM

Top BSE500 gainers

COMPANY	PRICE()	CHG()	CHG(%)	VOLUME
DCM SHRIRAM	299.15	28.30	10.45	210913
TAKE SOLUTIONS	270.05	17.15	6.78	236911
JYOTHY LAB.	465.50	26.65	6.07	44828
LUPIN	854.35	46.70	5.78	894960
QUESS CORP	1266.00	65.25	5.43	12824

1:21 PM

Nifty Pharma index up for fifth straight day; Sun Pharma rises 14% on week

Shares of pharmaceutical companies were trading higher for the fifth straight trading day with Nifty Pharma index gaining 8% as compared to 2% rise in the Nifty 50 index.
 

Sun Pharmaceutical Industries, Marksans Pharma, Alembic Pharmaceuticals, Caplin Point Laboratories, Ajanta Pharma, Bliss GVS Pharma, Granules India, Aurobindo Pharma and Wockhardt have risen in the range of 10% to 30% in past one week. READ MORE

1:05 PM

Kim promises complete denuclearisation of Korean Peninsula in return for security guarantees from Trump

North Korean leader Kim Jong-un today promised to leave the past behind and work toward "complete denuclearisation of the Korean Peninsula" in return for security guarantees from US President Donald Trump as they signed a joint statement wrapping up their historic summit here. Trump and Kim conducted a comprehensive, in-depth, and sincere exchange of opinions on the issues related to the establishment of new relations between the two countries and the building of a lasting and robust peace regime on the Korean Peninsula, according to the statement. READ MORE

12:44 PM

Why India is a preferred destination amid turmoil in emerging markets

As the threat of a trade war grows and emerging-market central banks sacrifice growth to protect their currencies, equity investors have their backs to the wall. But in their search for a haven, one name keeps cropping up: India. READ MORE

12:32 PM

Ratan Tata's investment in Xiaomi is likely to yield healthy returns

Ratan Tata’s investment in smartphone maker Xiaomi is likely to yield healthy returns as the Chinese firm heads for multi-billion-dollar maiden offering. In April 2015, the former head of Tata group had picked stake in the fast-growing–yet little-known beyond urban centres–smartphone company in his personal capacity. READ MORE

12:18 PM

Fund houses eye debt-focused investment products to gain traction

 

With bond yields hardening and equity market returns narrowing, fund houses are pinning their hopes on debt-focused investment products to gain traction. While most of them have started pushing for fixed-income products, some are launching new fund offers (NFOs) to fill the product lacunae.

 

Edelweiss AMC, for instance, is set to launch a ‘dynamic bond’ fund soon. “Fixed-income products such as dynamic bond funds have disappointed investors, especially at the long end of the yield curve. READ MORE

12:06 PM

US-North Korea meet

US, North Korea to corporate for development of relations: Agencies

12:05 PM

US-North Korea meet

North Korea pledged to work towards 'complete denuclearisation': Agencies

12:03 PM

Market Check

 

S&P BSE Sensex	35,654.32		0.59%
Nifty 50	10,831.30		0.59%
S&P BSE 200	4,692.26		0.56%
Nifty 500	9,370.00		0.58%
S&P BSE Mid-Cap	16,089.34		0.42%
S&P BSE Small-Cap	17,043.00		0.92%

11:55 AM

Global market check

INDEX	DATE	LATEST	PREV CLOSE	CHG(PTS)	CHG(%)
JAKARTA COMPOSITE	08-06-2018	5993.63	6106.70	-113.07	-1.85
BOVESPA	12-06-2018	72307.77	72942.07	-634.30	-0.87
SHANGHAI COMPOSITE	11-06-2018	3052.78	3067.14	-14.36	-0.47
ALL ORDINARIES	11-06-2018	6156.77	6169.43	-12.66	-0.21
ASX 200	08-06-2018	6045.18	6057.29	-12.11	-0.20

Click here for more global indices

11:46 AM

Retail investors might get custodians, all you need to know about them

 

The Securities and Exchange Board of India (Sebi) is planning to tighten the rules for trading settlement and introduce custodians for retail investors in order to protect their interests from defaulting brokers, according to reports. These proposals were discussed in Sebi’s Secondary Market Advisory Committee meeting recently, reports suggest.

 

Custodians, like intermediaries for foreign portfolio investors (FPIs), will manage the back-end operations of investors after a trade is done. The idea is to ensure that brokers do not misuse clients’ accounts and sell shares without their permission, unless the client has defaulted. READ MORE

Photo: Reuters

11:31 AM

Godrej Properties, Oberoi Realty may see lumpy revenues starting Q1FY19

 

With the transition from Ind AS11 reporting for revenue recognition based on percentage completion method to Ind AS 115 of project completion (100 per cent) from April 1, 2018, real estate developers will witness a fluctuating trend of revenues. So far, developers could start recognising revenues if at least 25 per cent of the project was completed.

 

Among the listed developers, Godrej Properties, Sobha and Oberoi Realty will be among the major players impacted. READ MORE

11:20 AM

Trump-Kim meet

It worked out better than anyone expected: US President