Sensex tumbles 363 pts, Nifty below 11,600 on Trump's trade threat to China

All that happened in the markets today

11:17 AM

Buzzing | Morepen Industries rallies over 12% in trade

11:13 AM

Vodafone Idea's revenue market share to slip below 25% by FY21: Analysts

As telecom operators race to roll out 4G network to subscribers and repair pricing across the country, analysts have been concerned about the fate of top players. In fact, some analysts feel that Vodafone Idea's revenue market share could slip below 25 per cent over the next 18 months. READ MORE

11:04 AM

Foreign investors have good appetite for InvITs, says India Inc

With private equity player KKR becoming a co-sponsor in the India Grid Trust InvIT (infrastructure investment trust) over the weekend, Reliance Jio transferring fibre and telecom assets to two InvITs, and Brookfield’s India Infrastructure Trust investing in a gas pipeline, this specialised investment vehicle is in the spotlight. InvITs, first allowed in 2016, are seen as good option for infra firms to hive off specified assets into a special purpose vehicle, which will get the benefits of owning the asset. READ MORE

10:55 AM

Deepak Nitrite soars 8% on stellar March quarter earnings

Shares of Deepak Nitrite soared 8 per cent intra-day Monday to Rs 296 apiece, after the company reported robust 179 per cent growth in standalone net profit at Rs 56.6 crore in March quarter (Q4FY19). It had a profit of Rs 20.3 crore in year-ago quarter.
 

Revenue from operations rose 23.6 per cent during Q4FY19 at Rs 486 crore against Rs 393 crore in the corresponding quarter of the previous fiscal. READ MORE

10:50 AM

ICICI Bank Q4 preview: Analysts see up to 90% rise in PAT, fewer slippages

ICICI Bank is scheduled to announce its March 2019 quarter earnings for the financial year 2018-19 (Q4FY19) on Monday. Hopes are high that the bank will report strong net interest income (NII) on the back of healthy loan growth coupled with a decline in slippages.

 

Sector analysts believe that the ICICI Bank could achieve this owing to strong credit growth in its retail and SME (small and medium enterprises) portfolio. READ MORE

10:41 AM

Nikkei India Services PMI

Falling from 52.0 in March to 51.0 at the start of the 2019 financial year, the seasonally adjusted Nikkei India Services Business Activity Index pointed to the weakest upturn in output since last September. Moreover, the headline figure dipped below the average seen over 2018 (51.6). Growth was linked to greater bookings, improved facilities and effective marketing, though curbed by competitive pressures and the elections.

 

With growth of manufacturing production also softening to a seven-month low, the seasonally adjusted Nikkei India Composite PMI Output Index fell from 52.7 in to 51.7 in April. The latest figure was indicative of a slight pace of expansion in aggregate activity that was weaker than seen on average over the series history.

Photo: Reuters

10:24 AM

Nifty Fin Services index down nearly 1%

10:20 AM

NEWS ALERT | China considering canceling trade talks with the United States: WSJ

- The Wall Street Journal, quoting sources, said that the decision on whether talks will be canceled depends on whether Vice Premier Liu He goes to Washington as planned.
- Canceling talks would conform to China’s strategy of not negotiating under threat

10:18 AM

YES Bank falls 5% as ICRA downgrades bonds rating

Shares of YES Bank slipped 5 per cent to Rs 167 early morning trade on the BSE on Monday, after rating agency Icra downgraded the bank's tier-I and tier-II bonds and infrastructure debt on deterioration in the credit quality of large ticket borrowers. READ MORE

10:16 AM

Sheela Foam down over 2%

10:14 AM

Birla Corp gains 3%

10:08 AM

ONGC is trading 1% lower

10:00 AM

MARKET CHECK

9:59 AM

Market outlook by SAMCO Securities

Markets are expected to remain choppy the next few weeks due to the quarterly numbers of companies and the result outcome overhang. Among the various sectors, IT is expected to witness some cool down as it has run up a lot. Private sector banks and cement companies especially Ultratech and Shree Cement can also experience some profit booking while PSU banks led by SBI can bounce back. Small and midcap space is more likely to experience an uptick as the sentiment towards the likelihood of yet another term by the ruling party is building stronger. On the commodity front, avoid metals as the commodity prices internationally are correcting. Investors should start looking for stocks in small cap space and keep them on their watch-list till the election outcome on May 23. Nifty 50 closed the week at 11,712 down by 0.35 per cent compared to the previous week.

9:58 AM

Motherson Sumi slips nearly 4%