MARKET WRAP: Sensex dips 495 pts; Nifty below 11,600; RIL, financials drag

All that happened in the markets today

2:37 PM

Mahindra Life Q4 results: Net profit down 34.5% at Rs 31.3 crore YoY

2:36 PM

Mahindra Life Q4 results: EBITDA margin at 3.5% vs 14.1% YoY

2:36 PM

Mahindra Life Q4 results: EBITDA down 64.4% at 8.1 cr YoY

2:27 PM

Trump administration to eliminate Iran oil waivers after May 2 expiration

The Trump administration won’t renew the waivers that let countries buy Iranian crude oil without facing U.S. sanctions, according to four people familiar with the matter, a move that could roil energy markets and risks upsetting major importers such as India and China. Secretary of State Michael Pompeo will announce the decision on Monday morning along with announcing commitments from other suppliers, including Saudi Arabia and the United Arab Emirates, that will offset the loss of Iranian crude on the market, according to two of the people. READ MORE

2:18 PM

Stock Alert | KPR MIlls up nearly 5% after Co is likely to consider buyback

2:13 PM

Rupee check | Domestic currency trades at day's high, appreciates to Rs 69.5 per Dollar

One of the reasons why the rupee is appreciating against the dollar is because the RBI has minimised its intervention in the currency markets

2:01 PM

ICICI Securities on Wipro

Continued strength in digital and healthy deal pipeline commentary would act as the main growth drivers for Wipro. Additionally, room for margin revision, healthy capital allocation policy and reasonable valuation prompt us to recommend BUY on Wipro. Hence, we revise target price to Rs 315 per share (~16x FY21E EPS).

1:59 PM

Dun and Bradstreet Business Optimism Index Report

Key Highlights:

 

1.       Dun & Bradstreet Composite Business Optimism Index stands at 78.4 during Q2 2019, an increase of 6.3% as compared to Q1 2019.

 

2.       Optimism for net profits stands at 69% - an increase of 6 percentage points as compared to Q1 2019

 

3.       Optimism for new orders stands at 63% - the same level as in Q1 2019

 

4.       Optimism for volume of sales stands at 74% - an increase of 3 percentage points as compared to Q1 2019

 

5.       Optimism for selling prices stands at 23% - an increase of 4 percentage points as compared to Q1 2019.

1:57 PM

DHFL plunges 19% in two days after CRISIL's credit rating downgrade

Dewan Housing Finance Corporation (DHFL) shares plunged 11 per cent to Rs 139 on BSE in intra-day trade on Monday, extending its Thursday’s 8 per cent decline after rating agency CRISIL downgraded credit rating of the company's commercial paper and continued on watch negative. At 01:28 pm, the stock was top loser among S&P BSE 500 index constituents. In comparison, the benchmark S&P BSE Sensex was down 0.88 per cent at 38,795 points. READ MORE

1:46 PM

NEWS ALERT | Piccadily Agro Industries said Haryana State Pollution Control Board has ordered closure of its distillery unit for making the compliance of certain pollution norms.

1:33 PM

Market check | Nifty IT gains on back of depreciated rupee, all other indices fall over 1%

1:18 PM

DHFL tumbles almost 9%

1:09 PM

HPCL falls more than 6%

1:01 PM

BSE Sensex gainers and losers

12:57 PM

Market check | Sensex sheds over 300 points